Hanger, inc. (HNGR)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows used in operating activities
Net loss

27,525

-858

-104,671

-106,471

-327,091

-18,966

40,511

48,024

54,477

20,896

36,093

Income from discontinued operations, net of income taxes

-

-

-

935

-7,974

-15,946

-5,368

-235

-

-

-

Loss from continuing operations

-

-

-

-107,406

-319,117

-3,020

45,879

48,259

-

-

-

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

35,925

36,455

39,259

44,887

46,343

38,929

34,185

32,589

30,969

18,809

16,319

Provision (benefit) for doubtful accounts

1,131

-733

9,422

13,727

12,854

11,639

5,053

4,423

9,396

20,276

16,128

Impairment of intangible assets

-

183

54,735

86,164

-

-

-

-

-

-

-

Loss (gain) on interest rate swap and disposal of auction rate securities

-

-

-

-

-

-

-

-

-

-1,798

167

(Gain)/Loss on disposal of assets

-

-

-

-

-

-

-

-

-7

-828

-506

Reduction of seller notes and earnouts

-

-

-

-

-

-

-

-

-541

-

-

Share-based compensation expense

13,414

13,065

12,930

9,763

11,134

9,642

9,346

8,213

8,088

9,596

7,430

Deferred income taxes

-3,226

3,452

26,248

4,031

-48,926

-39,214

-14,499

-13,812

8,439

752

1,074

Amortization of right-of-use assets

312

-

-

-

-

-

-

-

-

-

-

Impairment of long-lived and intangible assets

-

-

-

-

385,807

2,425

-

-

-

-

-

Amortization of debt discounts and issuance costs

1,623

2,837

8,876

4,921

3,371

2,663

3,218

3,891

3,334

1,893

1,822

Loss on extinguishment of debt

-

-16,998

-

-6,031

-7,237

-

-6,645

-

-

-13,985

-

Gain on sale and disposal of fixed assets

1,614

2,713

2,059

5,055

2,384

293

6,258

2,019

-

-

-

Contingent consideration gains

-

-

-

-

-

85

1,461

1,388

-

-

-

Changes in operating assets and liabilities
Accounts receivable, net

-

-

-

-

13,625

28,797

8,855

15,534

26,583

31,041

20,069

Inventories

-

-

-

-

-2,520

-6,917

3,493

-322

14,072

4,522

4,424

Other current assets

-

-

-

-

-3,913

-2,917

-

-

-

-

-

Income taxes

-

-

-

-

40,152

-6,434

-

-

-

-

-

Other current assets and other assets

-

-

-

-

-

-

-7,009

-1,498

-796

9,590

336

Accounts payable

-

-

-

-

8,084

-777

5,096

1,264

-5,902

-190

3,287

Accrued expenses and other current liabilities

-

-

-

-

-6,264

40,186

687

3,451

-1,424

5,299

5,893

Accrued compensation related costs

-

-

-

-

6,877

-483

-6,566

2,807

-7,404

5,599

3,365

Other liabilities

-

-

-

-

6,940

-978

-4,148

169

-2,224

188

-4,903

Changes in operating assets and liabilities:

15,932

-9,841

14,635

-13,458

-

-

-

-

-

-

-

Net cash provided by operating activities - continuing operations

-

-

-

70,521

64,612

50,061

80,134

73,795

61,804

54,200

71,824

Net cash used in operating activities - discontinued operations

-

-

-

-1,425

-5,098

-442

-3,102

-3,037

-

-

-

Net cash used in operating activities

58,846

78,527

30,105

69,096

59,514

49,619

77,032

70,758

-

-

-

Cash flows used in investing activities
Purchase of property, plant, and equipment

26,433

18,984

16,355

21,148

27,620

27,096

25,907

24,503

25,300

30,593

21,270

Purchase of therapeutic program equipment leased to third parties under operating leases

6,672

9,835

6,000

2,476

4,632

4,012

4,103

2,763

3,374

-

-

Acquisitions, net of cash acquired

36,585

1,978

-

-

10,215

38,097

10,295

61,401

14,842

162,250

11,511

Restricted cash

-

-

-

-

54

-

-3,120

3,120

-

-

-

Proceeds from sale of marketable securities

-

-

-

-

-

-

-

-

-

6,495

-

Proceeds from company-owned life insurance investment

-

-

17,135

-

-

-

-

-

-

-

-

Purchase of company-owned life insurance investment

66

598

555

2,543

2,544

2,294

-

2,000

4,000

-

2,000

Proceeds from sale of property, plant, and equipment

2,598

4,237

4,909

5,960

4,954

2,518

9,066

3,231

646

373

629

Other investing activities, net

-

-

-

10

50

-

-

-

-

-

-

Net cash used in investing activities - continuing operations

-

-

-

-20,217

-40,161

-68,981

-28,119

-90,556

-46,870

-185,975

-34,152

Net cash provided by investing activities - discontinued operations

-

-

-

1,425

4,987

2,507

-1,438

-1,118

-

-

-

Net cash used in investing activities

-67,158

-27,158

-866

-18,792

-35,174

-66,474

-29,557

-91,674

-

-

-

Cash flows provided by (used in) financing activities
Borrowings under term loan, net of discount

-

501,467

420

-

-

-

-

-

-

-

-

Repayment of term loan

5,050

435,660

28,545

-

-

-

-

-

-

-

-

Proceeds on senior notes due 2018

-

-

-

-

-

-

-

-

-

200,000

-

Borrowings under term loan, net of discount

-

-

-

274,400

-

-

225,000

-

-

300,000

-

Repayment of term loan

-

-

-

19,688

14,063

8,438

296,113

3,700

3,000

221,956

1,109

Borrowings under revolving credit agreement

-

3,000

156,965

23,000

155,000

331,000

249,000

-

10,000

-

-

Repayments under revolving credit agreement

-

8,000

151,965

155,000

93,000

286,000

224,000

-

10,000

-

15,253

Payment of senior notes

-

-

-

200,000

-

-

-

-

-

-

-

Payment of employee taxes on share-based compensation

4,137

2,906

1,477

288

2,212

-

-

-

-

-

-

Payment on seller notes

3,821

2,599

5,197

9,128

13,561

10,260

8,656

4,904

4,151

3,810

2,828

Payment of financing lease obligations

474

1,207

1,210

979

1,110

1,687

1,367

1,104

-

-

-

Repayment of senior notes

-

-

-

-

-

-

-

-

-

184,831

-

Payment of contingent consideration

-

-

-

-

-

-

2,590

2,915

-

-

-

Payment of fees associated with debt modifications and extinguishments

-

-

-

-

-

-

3,665

-

-

-

-

Proceeds from line of credit

-

-

-

-

-

-

-

-

-

-

3,600

Repayment of line of credit

-

-

-

-

-

-

-

-

-

3,628

-

Payment of debt issuance costs

-

6,757

2,863

15,832

-

-

-

-

-

-

-

Payment of debt extinguishment costs

-

8,436

-

-

-

-

-

-

-

-

-

Proceeds from exercise of options

1,099

64

-

-

-

-

-

-

-

-

-

Deferred financing costs

-

-

-

-

-

-

-

-

4,230

16,976

-

Excess tax benefit from stock-based compensation

-

-

-

-

-

2,249

3,348

1,489

2,462

2,342

1,307

Proceeds from issuance of common stock

-

-

-

-

-

87

2,437

3,560

2,680

12,384

2,756

Purchase and retirement of common stock

-

-

-

-

-

-

2,374

1,350

2,107

-

-

Payment of debt issuance costs and fees

-

-

-

-

8,340

-

-

-

-

-

-

Net cash (used in) provided by financing activities - continuing operations

-

-

-

-

-

26,951

-58,980

-8,924

-8,346

83,525

-11,527

Net cash used in financing activities - discontinued operations

-

-

-

-

-

-10

-12

-353

-

-

-

Net cash provided by (used in) financing activities

-12,383

38,966

-33,872

-103,515

22,714

26,941

-58,992

-9,277

-

-

-

(Decrease) increase in cash, cash equivalents, and restricted cash

-20,695

90,335

-4,633

-53,211

47,054

10,086

-11,517

-30,193

6,588

-48,250

26,145

SUPPLEMENTAL CASH FLOW FINANCIAL INFORMATION: