American renal associates holdings, inc. (ARA)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Operating activities
Net loss

28,962

26,145

28,196

23,681

10,158

22,467

13,464

27,624

52,398

58,136

85,986

95,360

92,011

101,666

99,365

86,915

97,054

93,077

0

0

0

Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, amortization and impairment

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation, amortization and impairment

-

-

-

-

-

39,802

39,200

38,615

38,183

37,634

37,140

36,389

35,259

33,862

33,620

32,603

31,782

31,846

0

0

0

Amortization of discounts, fees and deferred financing costs

3,149

2,825

2,675

2,197

1,970

1,981

1,881

1,955

1,998

2,031

1,697

1,853

2,328

2,595

3,169

3,263

2,970

2,888

0

0

0

Stock-based compensation

6,067

4,745

4,777

5,045

5,858

5,721

5,284

5,068

7,048

15,872

31,809

43,451

49,987

40,285

23,629

11,393

1,503

1,400

0

0

0

Premium paid for interest rate cap agreements

-

-

-

-

-

-

-

-

-

1,186

1,186

1,186

1,186

0

0

0

0

-

-

-

-

Deferred taxes

1,557

121

13,726

7,949

3,133

2,350

4,685

4,833

10,057

11,299

-9,332

-10,072

-17,964

-18,570

-6,604

-4,736

3,255

5,003

0

0

0

Income Tax Receivable, Changes In Fair Value, Gain (Loss)

238

221

6,786

3,336

5,376

2,673

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash rent charges

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash received on derivative settlement

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash rent charges

-

-

-

-

-

-

-

-

-

-

1,015

1,702

1,968

2,191

1,937

1,483

1,362

917

0

0

0

Loss (gain) on disposal of assets

-1,351

-529

682

297

303

-80

0

0

0

-

-

-

-914

-857

0

0

0

-

-

-

-

Income Tax Receivable Agreement Income

-

-

-

-

-

-

-

-

-

-

-

10,997

5,803

1,286

0

0

0

-

-

-

-

Other non-cash charges, net

0

-

0

0

0

-

0

0

-1

-

-157

204

-23

-473

257

-442

-309

-86

0

0

0

Change in operating assets and liabilities, net of acquisitions:
Accounts receivable

2,519

2,624

4,679

2,656

-11,011

-13,118

-31,640

-22,035

-16,249

-17,568

20,994

17,950

18,677

21,221

604

1,993

-344

5,987

0

0

0

Inventories

669

-3,659

1,550

909

833

6,799

1,709

1,575

1,481

-11

204

170

-867

385

-254

-46

824

-538

0

0

0

Prepaid expenses and other current assets

5,204

-2,072

9,814

11,799

1,063

2,340

-2,333

-9,622

2,649

6,353

5,022

15,710

8,486

4,768

5,756

-2,326

3,083

843

0

0

0

Other assets

8,088

5,377

-6,211

-1,746

1,596

5,712

8,058

9,506

5,575

1,325

821

1,463

264

219

1,022

-963

75

966

0

0

0

Right-of-use assets and operating lease liabilities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

10,838

-9,543

4,031

4,799

5,530

25,661

20,160

24,665

16,280

2,294

10,586

4,669

748

8,556

329

2,147

2,807

519

0

0

0

Accrued compensation and benefits

2,673

2,609

2,984

3,946

3,017

5,602

2,891

2,227

1,068

-118

2,675

3,185

4,596

6,599

1,589

1,771

362

4,032

0

0

0

Accrued expenses and other liabilities

-18,059

-28,134

-19,665

-12,823

5,669

7,027

979

14,633

-198

-1,797

-4,820

4,907

11,123

16,863

25,499

15,987

8,959

5,232

0

0

0

Cash provided by (used in) operating activities

62,492

38,821

57,636

55,673

75,402

106,404

115,047

134,667

133,035

128,548

127,675

135,337

152,152

172,206

170,979

161,006

142,578

133,595

0

0

0

Investing activities
Purchases of property, equipment and intangible assets

20,394

23,122

33,791

40,711

43,609

44,960

40,367

40,438

39,518

36,073

39,553

41,264

51,442

61,432

55,035

52,602

51,672

46,273

0

0

0

Proceeds from sale of clinics

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from asset sales

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Cash paid for acquisitions

0

6,590

6,978

6,978

6,978

388

0

0

0

-

-

-

-

-

-

-

-

2,642

0

0

0

Cash used in investing activities

-14,294

-20,312

-34,469

-44,387

-47,285

-42,846

-38,170

-37,168

-36,248

-35,303

-38,518

-44,971

-55,949

-65,939

-61,544

-55,444

-53,714

-48,915

0

0

0

Financing activities
Proceeds from revolving credit facility and term loans, net of discounts and fees

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds on term loans, net of discounts and fees

-

-

-

-

-

82,389

67,755

66,876

55,546

49,921

50,626

42,817

63,189

70,590

59,625

49,442

50,550

44,163

0

0

0

Payments on long-term debt

53,545

54,069

71,508

80,299

90,029

90,428

74,434

74,004

330,702

327,331

322,003

305,962

277,470

275,243

271,884

267,286

28,178

24,891

0

0

0

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5

0

0

0

Dividends and dividend equivalents paid

44

50

56

79

86

332

334

327

8,715

8,729

8,733

8,745

30,512

30,241

0

0

0

-

-

-

-

Proceeds from exercise of stock options

94

10

294

1,069

1,132

1,398

2,854

2,240

2,686

2,380

853

706

200

170

0

0

0

-

-

-

-

Common stock repurchases for tax withholdings of net settlement of equity awards

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Repurchase of vested restricted stock awards withheld on net share settlement

457

368

362

392

392

421

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments of deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Common stock repurchases for tax withholdings of net settlement equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Distributions to noncontrolling interests

68,985

62,987

56,078

58,400

58,992

70,960

74,100

75,125

77,152

79,478

87,992

89,037

92,072

94,468

86,462

82,166

82,408

79,125

0

0

0

Contributions from noncontrolling interests

-874

0

1,268

1,644

909

229

-136

-301

86

66

-2,502

-1,327

53

227

4,534

3,861

2,370

1,836

0

0

0

Purchases of equity of noncontrolling interests

8,276

8,499

8,841

8,460

6,131

9,066

10,415

28,634

28,152

29,540

27,854

17,627

12,943

8,397

9,230

1,110

1,685

4,159

0

0

0

Sales of additional noncontrolling interests

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

0

0

0

Cash provided by financing activities

-50,690

-39,315

-24,939

-10,693

-27,619

-79,869

-82,597

-103,028

-116,506

-122,539

-126,618

-108,606

-108,070

-96,344

-94,134

-86,725

-53,002

-55,167

0

0

0

(Decrease) increase in cash and restricted cash

-2,492

-20,806

-1,772

593

498

-16,311

-5,720

-5,529

-19,719

-29,294

-37,461

-18,240

-11,867

9,923

15,301

18,837

35,862

29,513

0

0

0

Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes

2,162

2,159

1,488

1,283

3,011

2,635

2,466

2,090

1,479

1,885

5,810

12,039

16,029

16,095

13,258

8,029

6,715

6,915

0

0

0

Cash paid for interest

36,410

34,152

33,703

33,131

29,833

30,504

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

0

28,750

-

36,612

40,181

42,645

42,339

0

0

0

Supplemental Disclosure of Non-Cash Financing Activities
Contributions from noncontrolling interests in the form of a receivable

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash equity impacts of the sale or closure of clinics

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash equity contributions

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued offering expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Change in liability accrued for dividend equivalent payments

37

45

54

66

79

-478

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Liability for accrued dividend equivalent payments, net

-

-

-

-

-

-

-

-

-

-

0

0

8,251

-

0

0

0

-

-

-

-