Providence service corp (PRSC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Operating activities
Net income

966

-18,825

53,820

89,846

83,194

20,275

19,438

8,482

16,940

23,626

21,125

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation

10,582

18,769

18,542

21,699

20,234

14,051

7,738

7,537

5,921

4,952

4,689

Amortization

-

-

-

26,026

38,067

15,437

7,134

7,486

7,735

7,699

8,162

Provision for doubtful accounts

4,078

6,062

1,372

3,759

2,539

2,589

3,245

2,305

3,131

4,899

4,479

Stock-based compensation

5,414

8,993

7,543

5,136

26,622

7,562

3,079

3,873

3,675

1,694

302

Deferred income taxes

71

-545

-22,996

-14,130

-10

-5,208

-3,282

-816

-530

1,369

2,299

Amortization of deferred financing costs and debt discount

293

512

682

1,754

2,041

5,561

960

-

-

-

-

Write off of Deferred Debt Issuance Cost

-

-

-

2,302

0

0

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-

-525

-

-2,463

0

0

Amortization of deferred financing costs

-

-

-

-

-

-

-

1,138

1,695

2,445

2,979

Excess tax benefit upon exercise of stock options

-

-

-

-

-

2,722

1,120

91

17

66

140

Gains on remeasurement of contingent consideration

-

-

-

-

2,469

16,314

0

-

-

-

-

Asset impairment charge

0

23,378

0

21,003

1,593

6,915

492

2,506

-

0

-

Equity in net loss of investee

-29,685

-6,072

12,054

-10,287

-10,970

0

0

-

-

-

-

Gain on sale of equity investment

0

0

12,377

0

0

-

-

-

-

-

-

Loss on sale of business

0

-53,692

0

167,895

123,129

0

0

-

-

-

-

Gain on remeasurement of cost method investment

0

6,577

0

0

-

-

-

-

-

-

-

Deferred income taxes and income taxes receivable on sale of business

0

-51,861

0

58,492

22,797

0

0

-

-

-

-

Other non-cash (credits) charges

0

353

-296

1,323

419

-3,088

364

158

645

87

109

Gain on bargain purchase

-

-

-

-

-

-

-

-

2,711

0

0

Changes in operating assets and liabilities:
Accounts receivable and other receivables

29,928

30,997

-5,715

19,332

86,627

17,208

-7,186

16,589

9,019

-28

10,542

Management fee receivable

-

-

-

-

-

-

-

-

-2,302

-1,320

-542

Other receivables

-

-

-

-

-

-

-1,199

-556

-2,334

-97

1,109

Restricted cash

-

-

-

-

-

-

141

-163

80

-5

-112

Prepaid expenses and other

-631

-14,253

-15,457

4,058

-14,654

7,361

856

-256

680

3,387

-3,005

Self-funded insurance programs

809

-2,743

-5,731

-4,110

-611

3,761

-19

1,034

-431

1,511

4,114

Accounts payable and accrued expenses

-4,144

-21,799

-9,064

33,365

-21,900

28,483

18,863

2,412

-5,342

-906

7,046

Income taxes on gain from sale of business

30,822

0

0

-30,153

0

0

-

-

-

-

-

Accrued transportation costs

2,175

1,301

11,232

8,654

9,045

530

-6,354

13,660

5,788

961

8,856

Deferred revenue

-1,298

-1,975

-4,691

-4,019

19,043

-3,454

-3,366

4,862

-3,179

-3,011

4,885

Other long-term liabilities

4,550

1,634

-629

4,462

463

-790

152

3,556

398

697

183

Net cash provided by operating activities

60,940

7,899

55,044

41,765

16,097

55,195

55,237

42,488

31,038

44,025

61,101

Investing activities
Purchase of property and equipment

10,858

17,521

19,923

41,216

35,072

23,242

10,183

9,522

11,306

10,265

3,699

Net increase from short-term investments

-

-

-

-

-

19

-177

-444

113

120

194

Proceeds from sale of property

-

-

-

1,039

0

0

-

-

-

-

-

Proceeds from sale of equity investment

0

0

15,593

0

0

-

-

-

-

-

-

Acquisitions, net of cash acquired

0

43,711

0

0

3,433

416,986

989

190

4,889

0

1,037

Dispositions or sale of business, net of cash sold

0

12,780

0

371,580

199,943

0

0

-

-

-

-

Purchase of equity investment

-

-

-

13,663

16,072

0

0

-

-

-

-

Cost method investments

0

0

3,000

0

0

-

-

-

-

-

-

Proceeds from note receivable

0

3,130

0

0

-

-

-

-

-

-

599

Acquisition of management agreement

-

-

-

-

-

-

-

-

-

-

100

Restricted cash for reinsured claims losses

-

-

-

-

2,058

3,108

2,848

-2,633

-1,692

2,303

1,196

Other investing activities

0

0

-310

-239

18

-

-

-

-

-

-

Net cash used in investing activities

-10,858

-45,322

-7,020

317,979

143,290

-443,355

-13,843

-6,635

-14,616

-12,690

-5,628

Financing activities
Excess tax benefit upon exercise of stock options

-

-

-

-

-

2,722

1,120

91

17

66

140

Proceeds from debt

12,000

42,000

0

52,500

34,000

501,200

76,000

-

115,000

0

0

Proceeds from issuance of preferred stock, net of issuance costs

-

-

-

-

80,667

0

0

-

-

-

-

Preferred stock dividends

4,403

4,413

4,418

4,419

3,928

0

0

-

-

-

-

Repurchase of common stock, for treasury

6,797

56,088

29,364

70,378

36,838

524

547

3,658

51

0

0

Proceeds from common stock issued pursuant to stock option exercise

11,142

12,413

1,921

4,108

4,894

11,019

10,069

949

56

470

149

Repayment of debt

12,000

42,000

0

357,450

305,125

48,625

82,500

20,493

146,811

21,909

33,545

Other financing activities

-

-

-

-

-

73

9

23

15

13

69

Payment of contingent consideration

-

-

-

-

7,496

0

0

-

-

-

-

Debt financing costs

-

-

-

-

-

12,769

2,082

65

2,651

61

802

Other financing activities

-718

-3,467

-1,927

-1,182

-286

-

-

-

-

-

-

Net cash provided by financing activities

-776

-51,555

-33,788

-376,821

-234,112

453,096

2,051

-23,199

-34,455

-21,446

-34,127

Effect of exchange rate changes on cash

0

-261

978

-1,357

-911

-3,525

-313

25

-44

215

447

Net change in cash, cash equivalents and restricted cash

49,306

-89,239

15,214

-18,434

-75,636

61,411

43,132

12,679

-18,077

10,103

21,793

Gain on remeasurement of cost method investment

0

0

12,377

-

-

-

-

-

-

-

-

Supplemental cash flow information
Cash paid for interest

1,261

1,162

987

9,768

-

10,726

5,839

6,505

8,605

14,581

17,789

Cash (received) paid for income taxes

-30,037

12,054

18,128

55,827

-

18,389

13,395

8,877

11,294

19,820

7,066

Purchases of equipment in accounts payable and accrued liabilities

0

0

1,362

983

-

-

-

-

-

-

-

Significant noncash investing activities:
Accrued unfunded future equity investment capital contributions

-

-

-

-

-

0

0

-

-

-

-

Note receivable issued for sale of property

-

-

-

3,130

-

0

-

-

-

-

-

Purchase of equipment through capital lease obligation

0

724

1,474

4,547

-

0

-

-

-

-

-

Acquisitions:
PSC of Canada Exchange Corp. shares exchanged

-

-

-

-

-

6,961

0

-

-

-

305

PSC of Canada Exchange Corp. shares converted to treasury shares for fulfillment of obligation by sellersof WCG related to dispute with British Columbia

-

-

-

-

-

1,521

0

-

-

-

-

Purchase price

0

54,700

0

0

-

525,596

989

190

8,573

-

-

Less:
Cash acquired

0

1,302

0

0

-

37,159

0

-

-3,684

-

-

Cash acquired

0

110

0

0

-

-

-

-

-

-

-

Value of existing ownership in Circulation

0

9,577

0

0

-

-

-

-

-

-

-

Common stock issued for acquistions of business

-

-

-

-

-

38,570

0

-

-

-

-

Contingent consideration

-

-

-

-

-

30,095

0

-

-

-

-

Note payable to former shareholder

-

-

-

-

-

600

0

-

-

-

-

Working capital adjustments to purchase price

-

-

-

-

-

0

0

-

-

-

-

Change in fair value of derivative and impact of de-designation

-

-

-

-

-

-

-

-

-

170

820

Cash paid for working capital adjustment

-

-

-

-

-

-

-

-

-

-

269

Acquisitions, net of cash acquired

0

43,711

0

0

3,433

416,986

989

190

4,889

0

1,037

Other Depreciation and Amortization

6,234

8,908

7,927

-

-

-

-

-

-

-

-