Premier, inc. (PINC)
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'13
Operating activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

73,217

92,189

71,329

23,493

73,802

104,811

81,973

100,636

76,549

19,769

60,616

73,860

71,338

246,184

58,095

50,356

71,557

60,995

52,253

32,061

72,029

65,808

64,887

66,632

101,980

51,477

112,528

Adjustments to reconcile net income to net cash provided by operating activities:
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

5

614

390

-46,736

-1,463

-1,000

-1,399

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

7,026

55,353

-1,985

2,029

5,749

-1,013

5,113

-10,268

7,902

227,350

8,298

14,711

-2,744

31,631

17,074

3,369

1,014

8,134

13,197

18,563

-1,186

-3,492

4,409

6,987

240

132

2,461

Depreciation, Depletion and Amortization

39,743

37,316

37,579

36,848

35,369

34,717

33,230

29,067

32,466

31,127

30,405

26,242

29,182

25,349

23,227

22,924

21,850

21,470

17,912

14,617

14,091

14,403

11,211

10,713

10,198

9,955

8,957

Income (Loss) from Equity Method Investments

4,442

2,989

3,607

971

553

1,444

2,690

604

-4,939

1,257

4,252

-44

83

5,127

9,579

5,645

6,627

4,785

4,590

6,473

5,197

4,749

4,866

4,805

3,566

4,491

4,114

Stock-based compensation

7,569

7,775

3,704

8,647

6,667

7,596

6,091

3,914

7,231

8,884

8,815

6,972

7,059

6,266

5,800

11,885

11,763

11,475

13,547

7,369

7,285

7,405

6,439

6,358

6,299

6,494

325

Remeasurement of tax receivable agreement liabilities

902

28,356

-4,674

0

0

0

0

-

-

-

-

2,493

-2,768

0

5,722

0

0

9,636

-4,818

0

-1,073

0

1,073

-

-

0

0

Gain (Loss) on Disposition of Assets

-

-

-

-

-

-

-

-

-5

-400

-1,320

-

-725

0

-1,518

-

0

0

0

-

-

-

-

-

-

-

-

Loss on FFF put and call rights

-

-

7,839

-

-

-

3,283

3,362

3,067

15,627

-20

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable, inventories, prepaid expenses and other assets

90,201

12,724

-6,972

-23,569

15,560

7,936

6,772

10,032

3,091

-8,281

8,748

4,311

-18,925

3,769

8,119

10,179

826

6,106

20,139

-4,681

12,369

-6,314

17,590

3,874

426

6,042

8,582

Contract assets

19,563

578

8,768

8,493

-10,514

5,294

33,276

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

-

-

-

-

-

-

-

6,045

-4,837

4,463

7,178

2,911

-17,139

31,005

827

-186

-937

-1,645

-1,169

3,200

2,181

5,197

1,657

1,543

3,164

3,375

0

Other assets

-

-

-

-

-

-

-

1,103

682

319

-1,379

3,708

-131

-1,386

1,112

-135

-1,080

-1,433

12,286

606

-2,624

3,882

-128

-69

-2

1,741

10

Accounts payable, accrued expenses and other current liabilities

-2,894

3,383

-23,830

-

24,268

26,983

-27,133

-

29,928

1,695

-21,933

-

-6,946

34,327

-38,463

28,863

33,826

20,334

-32,710

25,164

24,424

28,978

-17,732

-5,268

16,467

79,003

-44,205

Long-term liabilities

-

-

-

-

-

-

-

5,451

49

1,398

-111

361

2,879

-4,422

322

-2,949

2,697

-3,662

-281

374

1,743

1,699

-1,025

-3,577

313

269

-590

Other operating activities

-893

409

2,562

1,744

611

25

382

-418

19

204

6,402

3,503

-4,438

376

-387

1,588

-1,061

1,075

-535

690

670

555

596

2,046

-320

45

22

Net cash provided by operating activities from continuing operations

31,061

120,942

96,079

155,304

146,439

148,595

61,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities from discontinued operations

-690

-1,168

11,196

-18,101

9,388

-613

2,727

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities from continuing operations

30,371

119,774

107,275

137,203

155,827

147,982

64,327

137,972

163,219

131,482

75,033

118,036

135,847

96,537

41,827

100,533

136,210

112,008

22,719

108,483

101,860

107,842

45,873

79,431

90,173

131,726

66,792

Investing activities
Payments to Acquire Property, Plant, and Equipment

24,558

22,785

21,983

23,479

22,797

22,047

25,062

27,165

26,638

21,976

16,646

19,480

17,567

17,359

16,966

22,306

15,802

21,741

17,141

19,670

18,653

18,051

14,360

15,898

13,823

13,720

12,299

Acquisition of businesses, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

398,261

-

-

-

-

-

-

-

-

Acquisition of Medpricer.com, Inc., net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-360

0

64,634

-

-

-

-

-

-

-

-

Investments in unconsolidated affiliates

0

5,500

4,665

0

0

-4,000

4,000

-

-

-

-

0

0

0

65,660

0

2,250

0

1,000

5,000

0

0

0

-

-

-

-

Purchase of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

19,211

155,520

116,246

89,124

34,412

131,713

138,001

211,970

19,151

Acquisition of Acro Pharmaceuticals, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-1,608

-4,245

0

68,745

-

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sale of assets

0

0

3,632

22,731

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of marketable securities

-

-

-

-

-

-

-

-

-

-

-

0

0

0

48,013

18,772

27,926

31,940

307,734

87,031

108,023

52,074

138,660

76,560

33,770

18,715

18,974

Distributions received on equity investments in unconsolidated affiliates

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,550

5,050

5,300

6,293

5,450

5,000

3,850

5,000

5,050

5,000

3,850

6,800

0

Other investing activities

0

-5,501

5,250

-11,524

2,914

8,500

0

-

-

-

-

0

1

-21

-5

21

1

439

-434

-443

796

128

-481

0

0

0

0

Net cash used in investing activities

-86,177

-57,511

-28,266

2,915

-25,670

-77,653

-29,062

-27,420

-26,638

-21,976

-16,646

-17,872

-110,823

-239,555

-96,803

1,495

15,533

9,965

-186,629

-82,716

-38,340

-50,229

-60,588

-71,671

-76,356

-207,860

-41,216

Financing activities
Proceeds from credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

150,000

0

0

0

0

-

-

-

63,800

Payments made on notes payable

1

532

1,513

676

0

0

0

5

1,139

1,884

4,974

2,150

1,998

1,120

218

296

511

1,006

330

357

362

362

322

4,176

3,195

451

1,475

Proceeds from Lines of Credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

207

600

200

0

800

5,200

0

Repayments of Lines of Credit

50,000

75,000

25,000

-

0

0

0

-

0

0

50,000

-

57,500

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments made in connection with the IPO

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,822

Proceeds from issuance of PSHI common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

300

Proceeds from exercise of stock options under equity incentive plan

-

4,244

1,754

-

-

4,651

7,472

4,404

807

156

2,652

5,846

413

592

2,317

1,033

2,282

40

197

432

630

446

0

-

-

-

-

Repurchase of vested restricted units for employee tax-withholding

-

47

8,311

-

-

1,082

6,948

49

173

14

5,729

39

49

194

17,435

7,800

17

8

38

45

59

12

19

7

2

2

0

Distributions to limited partners of Premier LP

12,689

13,699

13,202

13,079

14,288

14,993

15,465

13,157

20,395

20,752

24,951

23,071

22,733

22,137

22,493

24,742

22,504

23,029

22,432

23,412

23,701

22,691

22,408

21,299

17,419

72,645

208,324

Payments to limited partners of Premier LP related to tax receivable agreements

0

0

17,400

0

0

0

17,975

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of Class A common stock (held as treasury stock)

1,527

117,443

31,123

-

144,552

91,975

12,313

-

129,285

70,844

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

193

-174

-

-

0

0

-

-

-

-

Net cash provided by (used in) financing activities

185,970

-75,937

-94,820

-136,575

-103,229

-102,167

-45,229

-107,576

-150,185

-78,612

-83,002

-179,647

-7,698

205,898

-37,829

-91,595

-70,769

-74,398

127,223

-34,881

-37,500

-22,519

-22,549

-28,014

-19,836

158,842

-148,521

Net increase (decrease) in cash and cash equivalents

130,164

-13,674

-15,811

3,543

26,928

-31,838

-9,964

2,976

-13,604

30,894

-24,615

-79,483

17,326

62,880

-92,805

10,433

80,974

47,575

-36,687

-9,114

26,020

35,094

-37,264

-20,254

-6,019

82,708

-122,945

Supplemental schedule of non-cash investing and financing activities:
Decrease in redeemable limited partners' capital for adjustment to fair value, with offsetting increase in additional paid-in-capital and accumulated deficit

302,569

908,465

-694,309

-60,846

235,394

-764,677

708,193

-668,882

1,149,641

-317,916

-320,424

-259,390

-100,506

335,264

61,808

-1,462,399

1,086,889

65,561

-466,801

92,066

387,062

42,250

382,657

-482,510

-495,714

3,719,812

0

Decrease in redeemable limited partners' capital, with offsetting decrease in common stock and additional paid-in capital related to quarterly exchanges by member owners

169,193

223,946

50,792

14,462

147,441

441,344

30,536

21,198

32,659

119,289

42,976

33,590

16,568

64,141

43,072

7,083

51,049

206,281

3,268

10,407

8,261

156,394

0

-

-

-

-

Decrease in redeemable limited partners' capital for limited partners' distribution payable

9,313

12,689

13,699

-29,224

13,145

14,288

14,993

-38,840

13,157

20,396

20,752

-42,990

23,071

22,733

22,137

-2,250

2,238

-523

23,028

-966

-354

1,061

22,691

999

3,933

17,419

0

Reduction in redeemable limited partners' capital to reduce outstanding receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

28,009

Distributions utilized to reduce subscriptions, notes, interest and accounts receivable from member owners

70

70

69

68

80

416

437

494

494

492

492

488

487

516

558

594

1,439

1,761

1,613

1,622

1,619

153

3,112

27

14

0

6,186

Net increase in additional paid-in capital related to departures and quarterly exchanges by member owners and other adjustments

-84,943

25,647

-12,272

49,015

-39,234

14,379

373

150

2,753

2,783

-11,452

11,255

-4,400

21,709

6,577

1,236

13,716

19,600

879

1,301

826

15,970

0

-

-

-

-

Increase in treasury stock related to a payable as a result of applying trade date accounting when recording the repurchase of Class A common stock

0

-4,526

4,526

-

-3,931

5,224

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in deferred tax assets related to quarterly exchanges by member owners and other adjustments

14,327

42,491

7,140

2,796

27,974

94,195

6,554

4,544

6,246

47,154

28,844

20,011

16,956

60,775

16,863

2,452

15,883

75,089

1,415

9,526

3,535

67,054

0

-

-

-

-

Net increase in tax receivable agreement liability related to quarterly exchanges by member owners and other adjustments

-43,866

31,488

5,132

2,745

18,244

79,816

6,181

4,394

3,493

44,371

40,296

8,755

21,356

39,066

10,286

1,215

1,584

55,596

1,013

1,377

2,709

51,084

0

-

-

-

-

Reduction in deferred tax assets related to departed member owners

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

71

312

-

0

0

0

-

-

-

-

Issuance of limited partnership interest for notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,860

Payable to member owners incurred upon repurchase of ownership interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

668

2,336

179

373

0

531

0

1,515

129

0

0

1,652

Reduction in tax receivable agreement liability related to departed member owners

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

178

789

-

507

0

1,073

-

-

-

-

Reduction in prepaid expenses and other current assets for IPO costs capitalized to additional paid-in capital

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,822