Envision Healthcare (EVHC) annual cash flow statement covering fiscal 2014 through 2017, as reported to the SEC.
Net cash from operating activities has grown 23.4% a year on average since fiscal 2014, from $424.8M to $797.4M.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'17 | Dec'16 | Dec'15 | Dec'14 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||||||||||
Net earnings (loss) | |||||||||||||||||||
-26,000 | 205,500 | 381,200 | 244,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net earnings (loss) | -26,000 | 205,500 | 381,200 | 244,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net loss to net cash flows provided by operating activities: | |||||||||||||||||||
Depreciation and amortization | |||||||||||||||||||
434,000 | 149,900 | 97,500 | 60,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization | 434,000 | 149,900 | 97,500 | 60,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of deferred loan costs | |||||||||||||||||||
17,200 | 9,200 | 8,400 | 17,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of deferred loan costs | 17,200 | 9,200 | 8,400 | 17,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for uncollectibles | |||||||||||||||||||
5,276,200 | 917,200 | 287,400 | 139,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for uncollectibles | 5,276,200 | 917,200 | 287,400 | 139,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net loss on disposals and deconsolidations | |||||||||||||||||||
-2,400 | 5,700 | 36,700 | 3,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net loss on disposals and deconsolidations | -2,400 | 5,700 | 36,700 | 3,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Share-based compensation | |||||||||||||||||||
48,700 | 29,400 | 15,000 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Share-based compensation | 48,700 | 29,400 | 15,000 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Share-based compensation | |||||||||||||||||||
40,900 | 28,600 | 15,000 | 10,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Share-based compensation | 40,900 | 28,600 | 15,000 | 10,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income taxes | |||||||||||||||||||
-481,400 | -78,900 | 19,000 | 30,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income taxes | -481,400 | -78,900 | 19,000 | 30,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Equity in earnings of unconsolidated affiliates | |||||||||||||||||||
22,700 | 23,700 | 16,200 | 7,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Equity in earnings of unconsolidated affiliates | 22,700 | 23,700 | 16,200 | 7,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Debt extinguishment costs | |||||||||||||||||||
- | -30,300 | - | -16,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Debt extinguishment costs | - | -30,300 | - | -16,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Impairment charges | |||||||||||||||||||
500,300 | 221,300 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Impairment charges | 500,300 | 221,300 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in fair value of contingent consideration | |||||||||||||||||||
100 | -2,600 | 8,800 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in fair value of contingent consideration | 100 | -2,600 | 8,800 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loss on assets held for sale | |||||||||||||||||||
515,200 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss on assets held for sale | 515,200 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other, net | |||||||||||||||||||
- | 3,900 | 4,000 | 300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other, net | - | 3,900 | 4,000 | 300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Increases (decreases) in cash, cash equivalents, restricted cash, and restricted cash equivalents net of acquisitions and dispositions: | |||||||||||||||||||
Accounts receivable | |||||||||||||||||||
5,455,500 | 1,003,000 | 326,200 | 137,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable | 5,455,500 | 1,003,000 | 326,200 | 137,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Supplies inventory | |||||||||||||||||||
-1,000 | 900 | 300 | 200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Supplies inventory | -1,000 | 900 | 300 | 200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid and other current assets | |||||||||||||||||||
13,800 | 42,300 | -25,900 | 9,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid and other current assets | 13,800 | 42,300 | -25,900 | 9,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable | |||||||||||||||||||
-12,100 | -1,600 | 3,100 | -8,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable | -12,100 | -1,600 | 3,100 | -8,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued expenses and other liabilities | |||||||||||||||||||
9,400 | 2,300 | 66,600 | 66,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued expenses and other liabilities | 9,400 | 2,300 | 66,600 | 66,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other, net | |||||||||||||||||||
-4,400 | -17,300 | -8,500 | -4,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other, net | -4,400 | -17,300 | -8,500 | -4,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash flows provided by operating activities | |||||||||||||||||||
797,400 | 419,800 | 538,000 | 424,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash flows provided by operating activities | 797,400 | 419,800 | 538,000 | 424,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from investing activities: | |||||||||||||||||||
Acquisitions and related expenses, net of cash acquired | |||||||||||||||||||
757,800 | 394,300 | 962,700 | 2,184,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisitions and related expenses, net of cash acquired | 757,800 | 394,300 | 962,700 | 2,184,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Acquisition of property and equipment | |||||||||||||||||||
208,900 | 99,500 | 60,300 | 40,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisition of property and equipment | 208,900 | 99,500 | 60,300 | 40,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Increase in cash due to merger (see Notes 1 and 4) | |||||||||||||||||||
- | 165,800 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Increase in cash due to merger (see Notes 1 and 4) | - | 165,800 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Increase in cash due to consolidation of previously unconsolidated affiliates | |||||||||||||||||||
- | 31,400 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Increase in cash due to consolidation of previously unconsolidated affiliates | - | 31,400 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of marketable securities | |||||||||||||||||||
24,500 | 1,600 | 3,900 | 6,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of marketable securities | 24,500 | 1,600 | 3,900 | 6,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Maturities of marketable securities | |||||||||||||||||||
15,000 | 3,800 | 4,200 | 3,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Maturities of marketable securities | 15,000 | 3,800 | 4,200 | 3,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other, net | |||||||||||||||||||
5,900 | 9,300 | -5,900 | -2,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other, net | 5,900 | 9,300 | -5,900 | -2,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash flows provided by (used in) investing activities | |||||||||||||||||||
-982,100 | -303,700 | -1,016,800 | -2,225,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash flows provided by (used in) investing activities | -982,100 | -303,700 | -1,016,800 | -2,225,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from financing activities: | |||||||||||||||||||
Proceeds from long-term borrowings | |||||||||||||||||||
801,900 | 4,509,200 | 560,100 | 2,049,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from long-term borrowings | 801,900 | 4,509,200 | 560,100 | 2,049,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment on long-term borrowings | |||||||||||||||||||
341,700 | 4,062,100 | 392,600 | 408,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment on long-term borrowings | 341,700 | 4,062,100 | 392,600 | 408,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Distributions to noncontrolling interests | |||||||||||||||||||
229,800 | 227,900 | 214,900 | 190,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Distributions to noncontrolling interests | 229,800 | 227,900 | 214,900 | 190,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from preferred stock offering | |||||||||||||||||||
- | - | - | 172,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from preferred stock offering | - | - | - | 172,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from common stock offering | |||||||||||||||||||
- | - | 466,800 | 439,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from common stock offering | - | - | 466,800 | 439,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of common stock upon exercise of stock options | |||||||||||||||||||
5,400 | 700 | 2,600 | 2,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of common stock upon exercise of stock options | 5,400 | 700 | 2,600 | 2,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repurchase of common stock | |||||||||||||||||||
9,500 | 6,100 | 3,700 | 4,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repurchase of common stock | 9,500 | 6,100 | 3,700 | 4,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments of equity issuance costs | |||||||||||||||||||
- | - | 19,100 | 24,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments of equity issuance costs | - | - | 19,100 | 24,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Financing costs incurred | |||||||||||||||||||
3,500 | 103,400 | 1,100 | 78,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Financing costs incurred | 3,500 | 103,400 | 1,100 | 78,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other, net | |||||||||||||||||||
-17,500 | -1,600 | -20,700 | -500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other, net | -17,500 | -1,600 | -20,700 | -500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash flows provided by (used in) financing activities | |||||||||||||||||||
205,300 | 108,800 | 377,400 | 1,957,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash flows provided by (used in) financing activities | 205,300 | 108,800 | 377,400 | 1,957,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net increase (decrease) in cash, cash equivalents, and restricted cash | |||||||||||||||||||
20,600 | 224,900 | -101,400 | 157,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net increase (decrease) in cash, cash equivalents, and restricted cash | 20,600 | 224,900 | -101,400 | 157,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Supplemental cash flow information: | |||||||||||||||||||
Interest payments | |||||||||||||||||||
- | - | - | 38,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest payments | - | - | - | 38,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income tax payments, net of refunds | |||||||||||||||||||
- | - | - | 19,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income tax payments, net of refunds | - | - | - | 19,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||