| Dec'19 | Dec'18 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income (loss) | ||||||
-12,885 | 24,337 | |||||
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||||||
Depreciation, including patient equipment depreciation | ||||||
62,566 | 47,876 | |||||
Equity-based compensation | ||||||
11,070 | 883 | |||||
Deferred income tax | ||||||
895 | -2,875 | |||||
Change in fair value of interest rate swaps, net of reclassification adjustment | ||||||
-11,425 | 546 | |||||
Change in fair value of contingent consideration | ||||||
150 | - | |||||
Provision for doubtful accounts | ||||||
- | 15,775 | |||||
Amortization of deferred financing costs | ||||||
1,311 | 477 | |||||
Write-off of deferred financing costs | ||||||
2,121 | 1,219 | |||||
Forgiveness of employee loan | ||||||
965 | - | |||||
Gain on debt extinguishment | ||||||
- | 800 | |||||
Changes in operating assets and liabilities, net of effects from acquisitions: | ||||||
Accounts receivable | ||||||
20,197 | 22,042 | |||||
Due from affiliates and related parties | ||||||
- | -700 | |||||
Inventory | ||||||
1,305 | -2,309 | |||||
Prepaid and other assets | ||||||
9,558 | 1,579 | |||||
Accounts payable and accrued expenses | ||||||
14,157 | 2,691 | |||||
Net cash provided by operating activities | ||||||
60,417 | 68,426 | |||||
Cash flows from investing activities: | ||||||
Purchases of equipment and other fixed assets | ||||||
21,331 | 9,949 | |||||
Payments for business acquisitions, net of cash acquired | ||||||
63,538 | 86,334 | |||||
Net cash used in investing activities | ||||||
-84,869 | -96,283 | |||||
Cash flows from financing activities: | ||||||
Proceeds from borrowings on long-term debt and lines of credit | ||||||
305,000 | 140,000 | |||||
Repayments on long-term debt and lines of credit | ||||||
194,071 | 24,830 | |||||
Payments on capital leases | ||||||
37,271 | 27,936 | |||||
Proceeds from issuance of promissory note payable | ||||||
100,000 | - | |||||
Increase in cash from the Business Combination | ||||||
43,911 | - | |||||
Proceed from sale of Class A Common Stock | ||||||
125,000 | - | |||||
Proceeds from issuance of members' interests | ||||||
20,000 | - | |||||
Payments for equity issuance costs | ||||||
837 | - | |||||
Payments for redemption of Class B Common Stock | ||||||
20,000 | - | |||||
Payments of deferred financing costs | ||||||
9,027 | 2,715 | |||||
Borrowings on lines of credit | ||||||
55,500 | 24,750 | |||||
Payments on lines of credit | ||||||
43,500 | 59,218 | |||||
Distributions to members | ||||||
250,000 | - | |||||
Payment of contingent consideration | ||||||
13,000 | - | |||||
Payments for redemption of members' interest | ||||||
3,713 | - | |||||
Payments for debt prepayment penalties | ||||||
- | 979 | |||||
Payments for tax withholdings from equity-based compensation activity, net | ||||||
507 | - | |||||
Distributions to noncontrolling interest | ||||||
1,338 | 300 | |||||
Net cash provided by (used in) financing activities | ||||||
76,144 | 48,768 | |||||
Net change in cash and cash equivalents | ||||||
51,692 | 20,911 | |||||
Supplemental disclosures: | ||||||
Cash paid for interest | ||||||
23,074 | 7,327 | |||||
Cash paid for income taxes | ||||||
1,318 | 405 | |||||
Noncash investing and financing activities: | ||||||
Equipment acquired under capital lease obligations | ||||||
36,267 | 27,079 | |||||
Unpaid equipment and other fixed asset purchases at end of year | ||||||
8,514 | 12,557 | |||||
Seller note issued in connection with an acquisition | ||||||
2,000 | - | |||||
Contingent purchase price in connection with acquisitions | ||||||
12,625 | 15,250 | |||||
Deferred purchase price in connection with acquisitions | ||||||
1,572 | 500 | |||||
Conversion of equity to debt | ||||||
43,500 | 16,845 | |||||