Hms holdings corp (HMSY)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Operating activities:
Net income

12,682

17,346

21,136

29,100

19,642

33,391

18,574

-3,367

6,391

25,723

6,372

6,517

1,442

9,150

14,047

9,879

4,560

8,725

6,862

5,418

3,522

-2,394

6,950

6,038

3,353

11,093

11,508

10,420

6,976

19,986

10,507

12,980

7,043

11,131

14,415

12,423

9,816

12,355

11,046

9,112

7,579

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, equipment and software

8,024

8,574

8,730

8,059

7,930

8,923

7,573

9,413

7,345

7,125

7,672

6,692

6,235

6,007

6,091

6,207

6,577

7,100

7,226

7,839

8,163

8,405

8,206

8,250

8,003

8,086

8,046

1,070

14,158

-13,938

13,969

13,470

13,401

7,505

5,125

4,968

4,837

4,430

4,171

3,627

3,680

Amortization of intangible assets

3,700

2,700

2,300

2,400

2,300

5,400

6,100

6,679

6,121

6,653

6,207

5,413

4,327

5,063

5,015

5,043

5,043

5,044

5,072

5,077

5,077

5,162

5,279

5,146

5,147

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

141

141

141

141

141

141

141

141

141

695

521

521

521

520

521

521

521

521

521

521

521

521

521

521

521

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

13,510

3,186

2,934

4,802

10,979

3,862

3,437

4,714

9,494

7,382

7,381

3,994

5,386

2,530

2,102

4,405

4,240

4,089

3,140

3,823

3,245

4,261

2,865

3,290

2,940

3,248

2,627

3,094

3,028

-1,078

3,099

3,405

3,690

2,492

1,918

1,930

2,036

2,210

1,906

1,667

1,761

Deferred income taxes

940

963

1,739

3,363

1,225

4,078

-3,682

-3,123

-777

-19,683

-1,991

1,017

248

-1,466

-2,767

-4,443

1,308

-5,095

-5,442

-3,257

-226

-2,968

-5,326

-3,029

-967

1,824

-3,647

-1,681

-850

-551

-2,536

-2,236

-1,000

310

669

497

342

1,770

1,328

-253

-529

Excess tax benefit from exercised stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21

8

1,448

-

16

0

854

79

910

1,223

3,021

574

5,017

1,326

5,516

3,894

1,197

3,696

3,264

-

-

-

-

Noncash lease expense

949

1,178

589

1,170

1,196

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of assets

-

-

-

-

-

-

-

-

-72

-

-

-

0

-22

1,014

-34

-10

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

534

-6

-5

-6

-12

-3

23

-43

-

-

-

-

-118

-8

269

130

-

-

-

-

Release of estimated liability for appeals, net

-

-

-

-

-

0

0

0

8,436

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Allowance for doubtful accounts and bad debt write-offs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-87

-2,303

-4,159

-

2,140

2,931

3,383

1,577

505

404

1,265

-

-

-

-

-

-

-

-

Loss on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-10

-

-

-

-

-245

-2

-138

-46

-228

-3

-57

-2

-262

-3

0

-2

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

9,910

16,800

-2,570

4,039

-1,977

4,274

9,384

5,982

-2,328

12,606

-14,669

16,017

-6,978

12,088

8,273

-13,457

-3,350

-5,006

6,890

817

9,344

-28,679

9,004

4,560

490

-8,228

6,412

15,253

1,519

24,099

8,116

13,621

-5,601

21,560

4,774

13,498

-7,901

-363

10,851

1,560

-2,391

Prepaid expenses and other current assets

-8,694

10,559

-450

-1,758

2,136

3,070

-222

2,476

-2,539

2,055

-608

-2,826

2,677

494

1,777

-2,234

2,362

637

-558

-1,611

983

1,534

-634

-740

-1,292

-166

703

-1,709

-169

2,744

-1,269

-45

6,240

242

-167

549

457

-120

-678

4,557

-4,423

Prepaid income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-92

-354

-4,216

-2,049

4,217

-351

-4,482

-2,829

5,719

-6,902

-119

2,861

-9,516

1,258

-4,111

-1,957

-2,598

-4,589

-1,822

-5,279

-

-

-

-

Other current assets

-

-

-

-

-

-

-

-101

-469

-

-186

-93

-433

513

73

-2,324

-328

574

-157

46

-51

-39

2,208

-61

42

83

16

-298

371

-117

43

-256

-337

150

399

-31

20

-

-

-

-

Other assets

4,469

427

546

434

766

-311

37

4

25

39

-14

-65

-84

-272

-282

371

-51

-239

-431

513

147

4

-170

-80

125

-12

-9

-41

34

39

-13

-51

152

-56

-211

-442

596

595

-3

-604

-78

Income taxes receivable

2,686

5,681

540

8,197

1,189

-14,220

2,619

-8,243

2,919

4,193

3,449

-5,446

-734

8,141

-12,195

416

-3,589

-309

4,182

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable, accrued expenses and other liabilities

-19,126

8,720

3,259

8,760

-15,995

6,787

6,940

11,569

-14,115

15,117

-7,261

11,450

-19,646

14,700

7,606

6,773

-16,963

7,924

3,305

-707

-10,772

9,061

10,171

1,864

-3,057

-916

8,977

-871

-6,140

3,522

3,006

412

-8,280

1,907

4,252

1,779

-8,156

4,121

5,015

2,691

-7,749

Operating lease liabilities

-1,042

-1,388

-975

-1,433

-1,519

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Liability for appeals

336

1,016

-394

-1,715

2,320

-461

-68

-370

271

33

-519

-271

789

573

-404

-27

-2,465

-1,814

878

-2,972

187

-21,322

3,706

5,636

6,927

2,647

4,700

4,215

2,946

9,352

4,108

3,115

3,390

-

-

-

-

-

-

-

-

Net cash provided by operating activities

17,094

20,313

34,793

49,604

28,522

40,921

31,845

8,954

14,737

31,366

34,358

17,354

3,386

32,417

9,161

46,452

609

31,832

20,363

20,185

-95

20,761

32,246

26,225

21,324

25,977

39,333

19,918

15,953

29,209

17,209

21,123

15,498

7,639

24,896

6,344

17,850

26,860

12,761

10,670

11,634

Acquisition of businesses, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,788

0

0

1,605

350,239

500

0

-161

-

-

-

-

Purchases of property and equipment

1,678

2,436

4,895

576

369

6,931

1,878

1,664

791

5,662

2,775

2,599

6,282

4,907

6,674

1,552

570

2,717

881

2,509

2,513

6,093

6,279

6,107

4,208

3,855

5,538

3,634

9,100

6,681

2,752

7,267

8,522

5,385

4,106

4,193

4,793

5,115

5,058

2,308

3,122

Investment in capitalized software

3,339

2,585

3,298

3,844

3,621

4,049

4,927

5,210

4,963

5,061

4,038

4,420

2,206

2,406

2,158

1,567

1,185

1,212

645

619

721

788

1,417

660

649

705

955

1,262

734

685

553

575

431

355

442

592

468

511

506

465

541

Repayment of revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

35,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-5,017

-161,678

-34,971

-4,420

-3,990

-10,980

-6,805

-6,874

-5,754

-10,870

-6,813

-178,193

-8,488

-7,081

-27,246

-3,119

-1,755

-3,929

-1,526

-3,128

-3,234

-6,881

-7,696

-6,767

-4,857

16,900

-27,953

-5,396

-9,834

-18,154

1,504

-10,866

-10,558

-355,979

-4,548

-10,094

-5,100

-5,979

-18,565

-25,454

-3,663

Financing activities:
Proceeds from exercise of stock options

100

100

12,200

3,900

23,100

24,800

11,200

2,256

144

120

594

1,984

1

0

1,744

1,170

26

-1

776

139

3,273

831

203

544

2,532

1,879

1,072

934

5,375

982

3,538

1,751

5,702

3,731

1,250

1,483

6,280

3,642

1,773

2,533

1,180

Excess tax benefit from exercised stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21

8

1,448

-

16

0

854

79

910

1,223

3,021

574

5,017

1,326

5,516

3,894

1,197

3,696

3,264

4,278

3,331

3,588

1,384

Payments of tax withholdings on behalf of employees for net-share settlements

3,335

18

23

179

6,768

21

113

97

2,587

263

24

266

2,608

385

23

65

1,002

394

7

32

596

530

40

0

1,088

424

0

15

1,483

657

0

5

1,122

253

0

6

897

-

-

-

-

Payments on capital lease obligations

102

102

129

-28

-8

-

-

-

-

138

0

3

2

1

1

5

37

225

252

289

366

388

415

413

413

420

453

551

287

304

305

233

154

-

-

-

-

-

-

-

-

Payments on contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

428

-

-

-

-

0

0

0

250

-

-

-

-

-

-

-

-

Purchases of treasury stock

-

-

-

-

-

0

0

0

5,955

14,137

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

8,750

-

-

-

4,375

-

-

-

-

-

-

-

-

Net cash (used in)/provided by financing activities

-3,312

37

12,097

3,636

16,379

24,708

11,130

2,149

-8,398

-16,667

570

43,919

-2,608

-20,856

1,720

1,100

-1,013

-27,097

-24,462

-174

3,759

-957

-236

131

-33,543

-58,886

-33,471

-22,278

-2,124

-3,780

3,875

-12,153

5,317

304,892

2,447

5,173

8,647

7,920

5,104

6,121

2,564

Net increase in cash and cash equivalents

8,765

-141,328

11,919

48,820

40,911

54,649

36,170

4,229

585

3,829

28,115

-116,920

-7,710

4,480

-16,365

44,433

-2,159

806

-5,625

16,883

430

12,923

24,314

19,589

-17,076

-16,009

-22,091

-7,756

3,995

7,275

22,588

-1,896

10,257

-43,448

22,795

1,423

21,397

28,801

-700

-8,663

10,535

Supplemental disclosure of cash flow information:
Cash paid for income taxes/(refunds received), net of refunds

585

5

1,206

-2,221

-4,288

6,724

4,029

10,846

626

5,678

1,661

9,922

734

848

6,028

8,398

5,052

9,259

5,393

7,570

656

17,603

38

3,084

419

10,832

4,209

8,044

11,837

345

9,833

6,782

3,530

5,927

4,520

5,979

1,048

-320

3,602

7,095

572

Cash paid for interest

2,134

2,339

2,594

2,753

2,771

2,557

2,853

2,861

2,055

4,125

2,368

1,765

1,686

1,599

1,581

1,570

1,446

399

1,427

1,042

2,826

20

1,900

1,350

1,188

1,854

3,358

1,429

2,879

3,143

3,160

3,197

3,736

20

42

24

23

-

-

-

-

Supplemental disclosure of non-cash activities:
Change in balance of accrued property and equipment purchases

-2,824

-3,594

2,041

451

-201

767

-544

201

881

465

899

-69

-1,244

860

514

-812

122

337

238

-805

959

636

-659

1,049

584

685

-615

527

1,128

4,172

-920

-308

1,495

4,856

-574

532

480

2,130

172

319

183

Equipment purchased through capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

205

570

1,626

434

64

1,444

185

-

-

-

-

-

-

-

-

Decrease in appeals liability for lost appeals offset with a reduction in accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,511

4,923

13,772

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-