MOLINA HEALTHCARE, INC. MOH Cash Flow

Molina healthcare, inc. (MOH)

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
Operating activities:
Net income
178,000	168,000	175,000	196,000	198,000	201,000	197,000	202,000	107,000	-262,000	-97,000	-230,000	77,000	-47,000	42,000	33,000	24,000	30,000	46,000	39,000	28,000	33,569	16,122	7,811	4,498	-9,055	7,569	24,571	29,915	25,643	3,364	-37,306	18,089	-32,960	18,950	17,440	17,388
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
20,000	21,000	21,000	22,000	25,000	23,000	31,000	36,000	37,000	39,000	43,000	47,000	49,000	47,000	46,000	45,000	44,000	33,000	31,000	29,000	33,000	34,536	33,810	32,660	32,994	25,965	24,128	22,108	21,799	20,475	20,279	19,671	18,339	21,969	17,812	16,508	18,094
Deferred income taxes
-14,000	-3,000	12,000	-4,000	-15,000	-26,000	26,000	0	6,000	26,000	27,000	36,000	5,000	-2,000	19,000	-9,000	-30,000	-5,000	19,000	-6,000	-1,000	-8,705	12,397	-2,362	670	-6,442	16,287	22,139	16	10,410	-1,787	9,527	-8,263	-5,767	-10,908	4,458	-1,619
Share-based compensation
12,000	10,000	10,000	10,000	9,000	7,000	7,000	7,000	6,000	8,000	3,000	29,000	6,000	2,000	8,000	9,000	7,000	7,000	7,000	3,000	6,000	5,885	5,659	4,860	5,596	8,346	8,504	7,729	4,421	4,570	5,636	5,146	4,666	4,329	4,349	4,310	4,064
Gain on debt repayment
0	0	-2,000	14,000	3,000	3,000	-10,000	-5,000	-10,000	-14,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash restructuring charges
-	-	-	-	-	0	0	0	17,000	11,000	49,000	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of premium/discount on investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,796	-1,502	-	-1,551	-1,765	-1,850	-1,942	-1,861	-1,795	-1,644
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,118	1,248	-	310	257	258	367	1,444	504	503
Change in fair value of derivatives, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,503	119	-	-184	-1,086	0	-	-	-	-
Change in fair value of contingent consideration liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Gain on disposal of property and equipment, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Tax deficiency from employee stock compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4	42	-	109	19	31	67	158	225	264
Gain on sale of subsidiary
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,747	-	-	-	-
Amortization of convertible senior notes and lease financing obligations
-	-	-	-	-	4,000	5,000	6,000	7,000	8,000	8,000	8,000	8,000	8,000	8,000	7,000	8,000	8,000	7,000	8,000	7,000	6,805	6,740	6,781	6,674	6,872	6,440	5,965	3,723	1,528	1,499	1,472	1,443	1,417	1,384	1,371	1,340
Other, net
-3,000	0	-8,000	-3,000	6,000	-2,000	2,000	2,000	2,000	8,000	6,000	4,000	3,000	2,000	3,000	5,000	6,000	6,000	4,000	6,000	3,000	3,125	2,152	3,271	-1,548	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Receivables
197,000	126,000	41,000	-120,000	29,000	23,000	192,000	232,000	83,000	-131,000	-4,000	0	32,000	-79,000	12,000	149,000	266,000	-79,000	-12,000	140,000	-105,000	171,252	-47,831	135,282	39,297	4,715	80,191	63,525	569	-7,227	-4,098	-61,247	54,356	5,059	21,588	-7,611	-19,388
Prepaid expenses and other current assets
229,000	-34,000	24,000	2,000	-20,000	-123,000	-64,000	-58,000	239,000	3,000	15,000	26,000	12,000	-47,000	-27,000	-59,000	202,000	-28,000	-34,000	-40,000	137,000	-31,582	-15,305	-11,136	78,023	-4,552	4,696	13,900	8,956	-1,616	222	4,712	5,640	-5,127	-961	-5,289	8,069
Medical claims and benefits payable
127,000	-121,000	208,000	-228,000	34,000	-82,000	123,000	-104,000	-163,000	-286,000	401,000	151,000	-3,000	58,000	86,000	-173,000	255,000	123,000	67,000	44,000	248,000	76,941	199,664	104,641	149,754	36,824	167,219	-25,658	-3,385	-41,933	10,925	69,705	53,357	41,421	19,442	-9,769	-2,974
Amounts due government agencies
113,000	52,000	-372,000	52,000	-35,000	-63,000	-716,000	33,000	172,000	219,000	-520,000	269,000	373,000	-30,000	-6,000	328,000	181,000	-251,000	155,000	203,000	95,000	129,225	220,903	76,607	43,265	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable, accrued liabilities and other
247,000	-35,000	98,000	-31,000	-30,000	-353,000	49,000	30,000	319,000	-102,000	108,000	-68,000	50,000	-5,000	-146,000	-58,000	205,000	50,000	-124,000	-31,000	189,000	37,384	-84,009	-1,327	58,952	12,009	37,959	14,879	-31,847	17,108	13,952	11,814	-34,796	2,532	8,961	17,081	-25,796
Deferred revenue
-206,000	42,000	177,000	-177,000	-4,000	34,000	-13,000	-172,000	130,000	-187,000	185,000	-178,000	146,000	-65,000	276,000	10,000	-129,000	153,000	9,000	-112,000	-26,000	5,360	144,911	-100,331	24,060	-2,590	78,439	-89,855	-5,994	-1,503	-33,072	80,883	44,543	-33,554	-12,675	-24,541	62,616
Income taxes
60,000	-19,000	7,000	-46,000	43,000	-67,000	-9,000	49,000	78,000	6,000	8,000	-89,000	59,000	-58,000	42,000	14,000	-24,000	-52,000	29,000	-1,000	2,000	16,937	9,047	11,374	4,642	-37,988	-9,988	552	8,424	40,050	-2,141	-16,074	-3,663	-5,898	-11,386	-2,141	-5,430
Net cash provided by operating activities
136,000	29,000	242,000	-93,000	249,000	-123,000	-505,000	-80,000	394,000	-153,000	285,000	-47,000	719,000	40,000	355,000	139,000	139,000	219,000	258,000	94,000	554,000	218,802	605,738	24,563	210,897	78,256	223,492	-131,852	20,104	83,760	28,041	185,408	50,575	70,232	40,265	30,775	84,123
Investing activities:
Purchases of investments
578,000	598,000	776,000	977,000	185,000	242,000	288,000	525,000	389,000	803,000	258,000	903,000	733,000	485,000	470,000	363,000	611,000	612,000	318,000	555,000	438,000	336,676	248,020	226,159	142,145	142,047	95,802	456,139	76,012	71,972	90,117	56,149	88,199	87,759	74,562	78,663	104,984
Proceeds from sales and maturities of investments
493,000	412,000	1,099,000	425,000	366,000	375,000	735,000	792,000	543,000	223,000	662,000	441,000	433,000	454,000	700,000	464,000	348,000	263,000	322,000	286,000	255,000	159,164	147,188	179,278	147,370	172,200	78,380	73,773	75,647	84,341	76,893	71,005	65,767	76,254	104,979	60,159	61,275
Purchases of property, equipment and capitalized software
21,000	27,000	10,000	14,000	6,000	6,000	10,000	10,000	4,000	1,000	25,000	34,000	26,000	33,000	41,000	56,000	46,000	31,000	35,000	41,000	25,000	43,229	34,101	19,882	17,788	33,574	29,197	24,062	11,167	25,597	19,247	19,796	13,505	14,660	15,055	15,925	14,941
Increase in restricted investments held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	5,000	-	1,000	-9,000	4,000	1,000	-9,000	9,000	5,000	9,699	8,679	1,241	14,381	-2,124	8,290	1,818	11,016	-387	880	1,661	493	-4,330	164	1,023	7,207
Proceeds from sale of subsidiary, net of cash surrendered
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	9,162	-	-	-	-
Net cash paid in business combinations
-	-	-	-	-	-	-	-	-	-	-	-	-	0	40,000	6,000	2,000	373,000	69,000	0	8,000	36,500	7,500	0	0	4,316	57,684	0	0	-	-	-	-	81,000	0	0	3,253
Other, net
-3,000	0	0	-2,000	4,000	-5,000	14,000	4,000	5,000	5,000	9,000	18,000	6,000	7,000	6,000	7,000	-1,000	1,000	17,000	10,000	7,000	7,780	7,832	6,841	547	-4,029	-9,983	7,604	408	8,748	392	1,926	2,457	1,365	2,723	-3,200	1,010
Proceeds from sale of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Change in deferred contract costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,238	-1,756	-	-4,256	10,062	12,993	10,065	16,360	6,770	9,635
Net cash (used in) provided by investing activities
-103,000	-213,000	313,000	-564,000	171,000	322,000	423,000	253,000	145,000	-586,000	370,000	-509,000	-337,000	-75,000	142,000	41,000	-314,000	-755,000	-108,000	-329,000	-228,000	-274,720	-158,944	-74,845	-27,491	-1,584	-109,604	-410,612	-21,200	-2,790	-29,487	-18,589	-42,718	-114,265	-3,885	-39,022	-79,755
Financing activities:
Proceeds from borrowings under term loan facility
-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	50,000	10,000	-	-	-	-
Purchase of call option
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-331	0	0	149,331	0	0	0	0	-	-	-	-
Proceeds from issuance of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-74	0	0	75,074	0	0	0	0	-	-	-	-
Contingent consideration liabilities settled
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-349	0	12,230	38,119	-	-	-	-	-	-	-	-	-	-	-	-
Payments for Repurchase of Common Stock
453,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	0	0	50,000	3,000	0	0	0	-	-	-	-
Cash paid for financing transaction fees
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from senior notes offerings, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27	0	0	537,973	0	0	0	0	-	-	-	-
Proceeds from borrowings under term loan facility
380,000	-	-	-	100,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for Repurchase of Warrants
30,000	0	90,000	321,000	103,000	130,000	306,000	113,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of principal amount of 1.125% Convertible Notes
-	-	-	-	-	-	-	89,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for partial settlement of conversion option
27,000	0	105,000	358,000	115,000	146,000	343,000	134,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash received for partial settlement of call option
27,000	0	105,000	358,000	115,000	146,000	343,000	134,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of principal amount of convertible senior notes
12,000	-	-	-	46,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	529	0	47,180	291	283	273	272	301	-	-	-	-
Repayment of amount borrowed under credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	40,000	0	10,000	10,000	0	-	-	-	-
Proceeds from employee stock plans
-	-	-	-	-	-	-	-	-	-	-	-	1,000	-	0	10,000	0	10,000	0	7,000	1,000	6,372	11	6,287	1,330	3,844	304	4,617	235	2,634	86	2,737	2,748	1,707	0	3,178	2,462
Excess tax benefits from employee stock compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	367	1,177	-	21	85	3,592	61	24	490	1,076
Other, net
-3,000	5,000	-3,000	26,000	1,000	11,000	8,000	4,000	-5,000	4,000	-1,000	10,000	-2,000	18,000	0	-1,000	2,000	2,000	0	-1,000	4,000	-117	1,053	207	857	1,637	363	0	0	-	-	-	-	-	-	-	-
Net cash used in financing activities
-118,000	-42,000	-148,000	-314,000	-48,000	-181,000	-509,000	-498,000	-5,000	4,000	299,000	334,000	-1,000	8,000	0	9,000	2,000	701,000	0	379,000	5,000	-3,783	124,451	-5,736	-35,932	2,542	-2	115,623	374,837	-680	-10,166	42,550	16,039	50,368	-8,101	3,668	3,538
Net (decrease) increase in cash, cash equivalents, and restricted cash and cash equivalents
-85,000	-226,000	407,000	-971,000	372,000	18,000	-591,000	-325,000	534,000	-735,000	954,000	-222,000	381,000	-27,000	497,000	189,000	-173,000	165,000	150,000	144,000	331,000	-59,701	571,245	-56,018	147,474	79,214	113,886	-426,841	373,741	80,290	-11,612	209,369	23,896	6,335	28,279	-4,579	7,906
Supplemental cash flow information:
Cash paid during the period for:
Income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,844	30,749	26,695	14,712	-5,708	0	17	1,057	11,113	12,687	16,795	14,068
Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,965	6,102	4,868	17,065	4,436	944	3,920	799	6,373	641	4,116	269
Schedule of non-cash investing and financing activities:
Common stock issued in exchange for convertible senior notes
-	-	-	-	-	0	0	0	131,000	193,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Component of convertible senior notes allocated to additional paid-in capital, net of income taxes
-	-	-	-	-	0	0	0	-23,000	-32,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase to additional paid-in capital
-	-	-	-	-	0	0	0	108,000	161,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retirement of treasury stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	0	0	53,000	0	0	0	0	-	-	-	-
Increase in non-cash lease financing obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	159	1,394	4,672	7,775	7,778	19,222	0	0	-	-	-	-	-	-	-	-
Common stock used for share-based compensation
7,000	0	0	0	7,000	0	0	1,000	5,000	1,000	0	15,000	6,000	0	1,000	0	7,000	6,000	0	0	9,000	405	142	236	8,217	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	0	55,000	-3,000	134,000	320,000	69,000	0	0	44,500	7,500	0	0	-	-	-	-	0	-30,942	0	30,942	-	-	-	-
Fair value of liabilities assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-23,527	0	23,527	-	-	-	-
Payable to seller
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-13,000	-9,000	30,000	8,000	0	0	-8,000	8,000	0	0	0	-	-	-	-	0	-1,747	0	1,747	-	-	-	-
Amounts advanced for acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	102,000	-102,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash paid in business combinations
-	-	-	-	-	-	-	-	-	-	-	-	-	0	40,000	6,000	2,000	373,000	69,000	0	8,000	36,500	7,500	0	0	4,316	57,684	0	0	-	-	-	-	81,000	0	0	3,253
Common stock used for stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	998	1,025	4,644	-	462	622	8,768	-	37	553	3,161
Details of change in fair value of derivatives, net:
Change in fair value of derivatives, net
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-8	-2	8	2	-617	1	-3,503	119	-	-	-	-	-	-	-	-
Proceeds from sale of subsidiary, net of cash surrendered
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	9,162	-	-	-	-
1.125% Call Option
Change in fair value of derivatives, net
-2,000	8,000	-42,000	11,000	155,000	256,000	186,000	72,000	63,000	97,000	-15,000	259,000	-86,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Embedded Derivative Financial Instruments [Member]
Change in fair value of derivatives, net
2,000	-8,000	42,000	-11,000	-155,000	-256,000	-186,000	-72,000	-63,000	-97,000	15,000	-259,000	86,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-