MAGELLAN HEALTH, INC. MGLN Cash Flow

Magellan health, inc. (MGLN)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
18,250	20,584	21,274	13,613	431	-27,967	27,145	13,551	11,452	54,509	33,236	4,927	17,469	35,777	25,309	1,312	13,391	24,981	-7,761	4,293	7,194	19,746	25,778	4,327	24,380	18,491	47,232	31,480	28,058	37,002	66,262	26,973	20,790	29,739	31,355	34,231	34,298	32,928	44,784	35,428	25,519
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization
28,684	33,154	34,157	33,490	30,708	35,358	33,047	33,848	30,407	32,810	28,189	27,731	26,976	28,574	26,885	25,580	25,007	27,605	26,721	25,022	23,496	24,405	23,956	22,480	20,229	21,224	17,654	16,946	16,170	15,316	15,239	15,152	14,781	15,335	15,069	14,267	13,952	13,075	13,950	14,235	13,422
Non-cash interest expense
585	468	390	353	326	302	305	307	307	1,637	2,542	325	253	180	181	102	102	102	100	98	99	99	2,316	1,388	184	184	184	184	184	184	184	183	177	713	107	106	107	106	102	142	219
Non-cash stock compensation expense
6,057	5,669	4,811	5,414	9,607	2,067	9,320	10,439	7,646	7,282	10,323	11,371	10,140	9,849	9,176	9,510	8,887	9,791	12,897	13,795	13,901	14,601	11,961	9,550	4,472	6,488	4,524	4,602	5,638	3,848	4,468	4,365	5,102	4,010	4,425	4,205	4,778	3,272	3,596	3,706	4,528
Non-cash income tax (benefit) provision
7,802	2,485	3,541	1,276	-250	-3,539	1,914	-162	62	-28,821	-640	-510	-1,010	1,712	1,428	2,108	-538	-25,981	2,305	-1,060	-2,263	-5,104	2,371	2,175	-3,733	-1,048	-1,499	1,965	-630	4,911	5,489	4,210	2,696	1,026	374	7,357	-472	9,991	14,221	10,159	7,880
Non-cash amortization on investments
-325	-76	182	135	192	60	-233	-362	-809	-872	-958	-982	-1,112	-1,014	-1,077	-1,303	-1,844	-2,012	-2,140	-1,427	-1,539	-1,430	-967	-1,042	-1,611	-1,834	-2,389	-2,376	-2,508	-1,820	-1,653	-1,960	-1,760	-2,649	-3,012	-3,420	-3,228	-	-	-	-
Changes in assets and liabilities, net of effects from acquisitions of businesses:
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,045	-74,265	-9,739	-	-2,147	-97,253	27,870	20,229	19,099	-32,322	-4,764	-19,017	36,932	23,697	-852	30,235	52,522	1,926	-15,623	19,488	-26,457	2,252	-38,208
Accounts receivable, net
33,291	79,738	2,717	27,740	23,804	-61,609	-18,446	92,172	87,178	27,371	-8,320	-5,840	27,699	102,163	-42,504	60,892	13,538	10,966	9,364	33,489	-1,425	55,112	3,740	50,595	-34,843	21,573	-8,130	19,002	8,359	17,015	824	-13,534	12,106	7,170	-68,592	70,887	6,144	7,017	-12,724	1,681	764
Pharmaceutical inventory
-2,629	-3,411	2,762	-1,540	6,333	-3,217	-6,298	12,455	-3,067	-7,996	-10,797	-2,191	3,379	-2,179	-1,821	7,125	5,121	6,097	2,358	7,689	-4,770	-1,524	-3,378	-2,828	-2,504	2,202	-2,470	2,146	2,004	4,158	3,215	-4,715	3,502	7,960	-13,420	-761	17,878	-	-	-	-
Other assets
41,862	-55,206	11,824	13,055	10,835	-34,234	2,610	19,484	37,914	-10,916	-6,493	20,802	1,172	-58,474	15,914	20,621	35,839	-52,802	17,102	4,332	27,219	-14,821	-5,297	10,402	17,273	-488	1,500	6,242	2,039	-4,632	-89	10,375	-6,068	-1,124	-6,704	18,472	-14,448	10,762	9,759	-1,457	-4,217
Accounts payable and accrued liabilities
52,746	-27,133	63,155	422	20,399	22,920	-64,103	23,793	26,529	-14,439	-10,634	-6,534	-52,838	28,600	9,348	3,116	11,406	9,992	26,404	-46,552	-25,887	34,348	-23,027	-35,778	30,344	-3,092	36,328	-14,358	-15,285	9,533	2,168	6,702	-26,724	2,965	16,882	-1,306	-25,792	13,558	25,939	-3,489	-21,561
Medical claims payable and other medical liabilities
-13,622	-40,966	7,668	-15,342	19,671	-1,320	-16,265	-17,637	107,569	657	19,600	11,138	-5,160	9,975	16,443	3,832	-38,292	-23,632	14,275	21,881	23,663	15,730	21,283	8,854	9,803	1,722	9,760	-9,368	15,752	-6,130	17,214	1,007	19,201	7,558	-3,073	-2,268	-10,122	17,723	-6,447	5,759	-13,397
Contingent consideration
-	-123	4	-2,149	-1,609	856	148	70	233	1,327	-834	252	-49	-614	313	-51,638	734	-4,188	22,978	21,276	14,969	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax contingencies
925	-1,101	-861	527	83	1,703	-621	273	448	1,523	-606	258	506	784	-758	358	289	1,269	-1,712	209	-787	224	-16,343	363	801	21	-24,330	748	601	-760	-36,094	788	690	-	-	-	-	-	-	-	-
Deferred credits and other long-term liabilities
3,003	-1,102	-2,137	-4,540	-2,889	1,523	-387	-801	17,685	810	526	-2,268	4,150	-191	-6,056	890	-227	1,404	-51	-579	-480	105	574	833	2,533	8,767	1,848	151	222	-	-	-	-	-	-	-	-	-	-	-	-
Other
505	-533	-547	-261	-111	76	-24	-159	90	115	-574	-57	421	-109	80	11	-34	-197	-22	45	3	-144	-273	94	1	-804	-282	-1,372	-299	465	-924	54	216	3,216	-903	644	-3,242	-319	4,328	-2,453	-2,001
Net cash provided by operating activities
31,726	-28,577	115,064	-6,065	35,424	130,827	12,894	-59,909	81,032	49,593	108,844	34,958	-31,122	74,259	111,677	-87,376	-31,861	-20,668	65,449	68,520	44,156	-4,569	57,191	54,224	82,827	11,879	84,373	41,030	45,879	69,636	36,625	45,463	29,569	15,884	98,007	-31,156	29,268	54,662	128,090	65,917	60,272
Cash flows from investing activities:
Capital expenditures
15,719	16,168	16,430	15,162	12,642	17,031	14,112	17,630	19,502	14,529	15,906	15,858	10,939	16,536	13,823	14,911	15,611	16,980	16,951	16,257	21,396	11,740	18,590	20,948	11,059	22,451	15,056	15,653	11,382	16,500	16,172	22,372	14,505	15,926	11,775	16,603	10,090	13,961	10,520	11,676	10,005
Acquisitions and investments in businesses, net of cash acquired
369	407	0	0	320	-	-	-	-	229,203	0	3,000	200	72,306	111,454	-164	15,641	0	-125	42,303	13,640	-	-	-	-	-	-	-	-	-	-	-	-	0	102	0	274	-	-	-	-
Purchases of investments
164,311	123,262	95,294	123,002	172,766	104,225	118,757	191,364	142,886	108,593	102,466	97,382	141,432	112,956	154,460	54,041	157,020	78,308	98,437	164,497	128,851	124,003	104,870	35,540	76,548	87,307	70,574	98,776	66,596	124,016	54,370	81,178	61,977	48,662	23,083	8,035	179,772	55,869	138,905	65,573	30,942
Proceeds from maturities and sales of investments
152,394	121,467	146,203	159,542	128,748	97,349	173,237	108,447	118,999	103,073	86,902	101,303	131,840	120,562	126,908	101,884	144,902	120,689	67,635	123,485	92,499	56,255	73,659	72,108	74,424	105,705	94,655	91,421	47,647	66,598	64,260	53,722	97,168	99,490	108,050	50,028	73,015	71,978	70,020	47,924	37,035
Net cash used in investing activities
-28,005	-18,370	34,479	21,378	-56,980	-24,463	39,966	-100,547	-43,389	-249,252	-31,470	-14,937	-20,731	-81,236	-152,829	33,096	-43,370	25,401	-47,628	-99,572	-71,388	-75,555	-57,016	-109,375	-13,183	-103,694	9,025	-30,908	-30,331	-75,143	-6,282	-49,828	20,686	34,902	73,090	25,390	-117,121	2,148	-79,405	-29,325	-3,912
Cash flows from financing activities:
Proceeds from borrowings on revolving line of credit
80,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of debt
-	-	-	-	-	-	-	-	-	92,497	749,239	0	200,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to acquire treasury stock
-	1	0	0	4,124	-	-	-	-	-	-	-	-	0	81,348	17,466	7,992	55,281	81,980	36,671	32,112	58,217	74,062	48,284	16,970	11,215	0	24,632	24,830	-	-	-	-	79,759	116,435	89,380	122,071	75,378	0	15,148	59,279
Proceeds from exercise of stock options
10,903	12,055	6	18,602	2,045	477	1,111	4,579	16,897	16,027	22,382	1,001	4,945	14,212	1,242	1,907	7,784	3,419	904	12,270	36,900	11,309	7,488	27,017	7,180	22,981	8,438	6,435	9,675	7,394	10,089	806	2,197	7,041	5,913	20,826	8,016	69,755	5,973	2,638	14,510
Payments on debt, finance lease and deferred financing obligations
34,774	16,561	35,407	8,220	7,323	47,196	41,131	-21,983	55,895	5,034	607,381	8,240	182,738	7,322	4,168	5,247	4,154	4,373	4,366	4,637	3,662	5,439	519	970	1,117	-	-	-	-	-	-	-	-	-	-	-	-	532	0	89	499
Payments on contingent consideration
-	0	0	0	6,247	-	-	-	-	-	-	-	-	0	601	37,958	2,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefit from exercise of stock options and vesting of stock awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	186	113	813	2,961	413	421	1,867	517	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	494	1,402	414	-	-	-	-	-	-	-	-	-	-	-	-
Other
-1,136	0	2,209	1,256	-1,702	0	2,031	0	-3,051	-1,555	-6,694	-36	-1,275	-44	1,368	-22	-72	1	1,024	191	-807	-2,283	-1,007	-2	-1,141	-1,077	1,231	275	-1,022	-867	870	8	-743	-2,050	448	954	-563	764	-107	-173	-1,331
Proceeds from issuance of equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	20,000	-	-	-	-
Net cash (used in) provided by financing activities
54,993	-4,507	-33,192	11,638	-17,351	-68,320	-64,705	12,239	-42,049	93,627	146,057	-12,275	20,932	91,846	-18,507	166,214	-6,434	-67,878	-88,798	-32,473	3,280	-54,217	182,321	-20,372	-11,531	13,210	9,175	-19,324	-16,591	-14,351	10,959	814	1,454	-73,289	-110,074	-67,600	-94,618	-4,270	5,866	-12,772	-46,599
Net (decrease) increase in cash and cash equivalents
58,714	-51,454	116,351	26,951	-38,907	38,044	-11,845	-148,217	-4,406	-106,032	223,431	7,746	-30,921	84,869	-59,659	111,934	-81,665	-63,145	-70,977	-63,525	-23,952	-134,341	182,496	-75,523	58,113	-78,605	102,573	-9,202	-1,043	-19,858	41,302	-3,551	51,709	-22,503	61,023	-73,366	-182,471	52,540	54,551	23,820	9,761
Supplemental Cash Flow Information [Abstract]
Non-cash investing activities:
Assets acquired under finance leases and deferred financing obligations
3,599	0	0	0	3,302	1,031	14,922	4,572	51	0	0	1,512	906	-	183	2,717	1,293	-	-	-	-	-	-	-	-	-	0	487	28,836	-	-	-	-	-	-	-	-	-	-	-	-