Providence Service Corp PRSC Cash Flow

Providence service corp (PRSC)

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
16,098	-6,058	8,153	-1,711	582	-20,481	7,333	-11,403	5,726	39,084	14,947	3,740	-3,951	82,771	952	3,994	2,129	75,781	-5,411	6,575	6,249	7,051	265	6,672	6,287	3,357	3,527	5,876	6,678	2,865	1,157	1,418	3,042	2,953	1,950	7,565	4,469
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
2,231	2,282	2,590	2,794	2,916	4,552	4,652	4,837	4,728	4,740	4,557	4,939	4,306	4,660	5,521	5,997	5,521	4,947	5,122	5,076	5,089	5,113	4,030	2,805	2,103	1,936	1,929	1,939	1,934	1,959	2,136	1,713	1,729	1,720	1,479	1,400	1,321
Amortization
1,559	-	-	-	1,559	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization
-	-	-	-	-	-	1,988	2,042	2,070	-	1,990	1,961	1,963	1,886	6,508	8,817	8,815	8,910	9,465	9,881	9,811	7,469	4,005	2,338	1,625	1,748	1,795	1,796	1,795	1,810	1,883	1,896	1,897	1,956	1,922	1,928	1,927
Provision for doubtful accounts
827	3,545	252	194	87	4,447	1,418	181	16	114	176	884	198	1,563	258	1,444	494	521	649	770	599	819	681	532	557	675	962	1,050	558	887	791	820	-193	753	843	698	835
Stock-based compensation
1,045	1,167	855	1,289	2,103	2,784	1,931	3,345	933	2,957	1,565	1,555	1,466	1,932	1,257	1,335	612	17,800	2,764	3,194	2,864	2,187	3,975	992	408	677	657	827	918	287	1,086	1,433	1,067	942	923	1,119	690
Deferred income taxes
11,590	-1,922	3,339	-578	-768	57	2,063	-2,218	-447	-15,934	-329	-3,938	-2,795	1,316	-5,352	-6,140	-3,954	7,801	-2,996	-3,303	-1,512	-1,394	-4,021	1,540	-1,333	-4,677	-799	2,215	-21	-396	-1,148	1,169	-441	-101	-305	895	-1,019
Amortization of deferred financing costs and debt discount
33	21	71	100	101	104	100	142	166	166	167	174	175	181	520	521	532	430	540	532	539	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-2,463
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	197	196	214	-	223	259	264	273	298	281	286	294	445	475	479
Excess tax benefit upon exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	125	250	1,989	-113	489	2,023	323	121	359	482	158	31	12	27	21	14	0	0	1
Equity in net loss of investee
-2,550	-23,526	-3,188	-1,315	-1,656	-2,046	-1,558	-147	-2,321	13,045	-461	1,530	-2,060	-4,594	-1,517	-1,459	-2,717	-2,962	-4,466	-1,059	-2,483	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reduction of right of use assets
2,248	-	-	-	2,332	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes and income taxes receivable on sale of business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,797	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-cash (credits) charges
-	-	-	-	-	238	-490	-6	611	258	-151	-464	61	44	473	763	43	-	-	-544	319	-2,623	-425	-75	35	12	267	63	22	191	-12	-3	-18	-59	321	3	380
Changes in operating assets and liabilities:
Accounts receivable and other receivables
-7,484	-14,446	36,985	9,020	-1,631	-517	-2,479	21,579	12,414	-16,362	1,698	10,012	-1,063	-2,784	15,585	29,051	-22,520	-1,196	26,915	11,209	49,699	-88	-4,440	9,202	12,534	-2,153	-3,177	7,049	-8,905	6,285	388	1,634	8,282	6,595	3,154	-7,840	7,108
Management fee receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	87	-466	-470	-301	-753	-1,365	117
Other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,794	2,694	-77	-	-983	497	-984	-857	-347	15	-10	-1,065	-480	761	228	-393	-658	-840	-442
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	-175	106	-	37	-316	111	-114	153	-308	410	-149	-34	-195	215	-103	148	-367	401
Prepaid expenses and other
21,463	27,038	-32,142	7,999	-3,526	-10	-25,210	7,735	3,232	-7,940	-11,002	1,579	1,906	-5,842	-16,009	24,174	1,735	-1,935	-21,453	15,098	-6,364	7,446	-4,629	10,593	-6,049	-5,175	-4,833	10,577	287	-3,812	-5,688	9,689	-445	-2,514	-4,415	8,824	-1,214
Self-funded insurance programs
-388	-1,702	3,746	76	-1,311	-2,195	746	-474	-820	-807	-50	-3,470	-1,404	-5,094	-1,800	4,512	-1,728	-5,785	-4,517	10,812	-1,121	-234	-653	6,598	-1,950	-2,739	-1,998	6,666	-1,948	-739	-1,086	4,670	-1,811	-1,039	-2,858	4,250	-782
Income taxes on gain from sale of business
-22	-	-	-3,120	-5,103	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
36,317	5,240	-19,159	15,778	-6,003	4,452	-21,386	-7,115	2,250	-5,657	-1,691	-14,055	12,339	835	-11,522	39,981	4,071	-11,344	-28,311	3,672	14,083	15,008	6,303	-1,690	8,862	3,119	26	4,369	11,349	-628	2,063	385	592	-5,245	543	-2,770	2,130
Income taxes on gain from sale of business
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-1,816	0	-28,337	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued transportation costs
-19,285	-25,347	24,586	-23,704	26,640	-29,587	20,399	-6,194	16,683	-17,607	17,383	-7,143	18,599	-23,281	19,816	-7,811	19,930	-14,581	17,604	-11,808	17,830	-5,798	-7,226	13,652	-98	-1,448	669	-3,516	-2,059	-3,241	5,588	5,154	6,159	457	2,932	-3,955	6,353
Deferred revenue
338	-812	-53	-72	-361	-507	-12,248	3,120	7,660	-154	-7,433	889	2,007	3,441	-8,908	932	516	1,147	3,341	11,676	2,879	-4,082	680	-183	131	-1,574	-131	-3,983	2,322	1,223	1,946	463	1,230	-420	-630	-1,504	-623
Other long-term liabilities
-2,374	1,143	937	3,432	-962	1,330	232	-517	589	-2,028	-926	186	2,139	-780	600	2,027	2,615	215	-33	-350	631	4,459	-1,240	-949	-3,060	100	85	38	-71	199	-88	-1	3,446	204	-34	218	9
Net cash provided by operating activities
38,832	20,871	16,998	-15,760	38,831	-14,573	30,388	-33,534	25,618	18,115	27,666	-26,935	36,198	-3,492	7,502	3,080	34,675	-9,708	2,249	8,166	15,390	20,823	16,097	10,429	7,846	9,578	15,582	276	29,801	2,551	22,835	7,948	9,154	-884	10,058	9,201	12,662
Investing activities
Purchase of property and equipment
1,574	3,556	3,025	2,595	1,682	4,327	4,402	3,805	4,987	4,630	4,548	5,007	5,738	7,288	10,292	13,822	9,814	11,238	10,712	6,728	6,394	11,619	3,356	5,544	2,723	3,770	2,919	2,056	1,438	1,957	1,236	2,161	4,168	2,630	2,145	4,711	1,818
Net increase from short-term investments
-	-	-	-	-	-	-	-	-	-	-	-303	3	-	-251	4	5	-	5	4	5	5	5	4	5	-200	7	8	8	8	9	-486	25	27	27	29	28
Loan to joint venture
-	-	-	-	-	-	-	-	-	-	-	0	566	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,768	0	1,665	-	-	-	-	-	-	-	-	0	0	0	190	-389	-1,183	6,462	0
Purchase of equity investment
-	-	-	-	-	-	-	-	-	-	-	-	-	7,282	0	3,152	3,229	2,287	1	13,784	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash for reinsured claims losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,068	-1,335	-2,514	606	1,039	1,107	-694	-704	-932	6,269	-1,525	-2,192	-3,510	8,596	-46	-1,364	-289	573	-1,553	-256	-10	-1,063	-361
Net cash used in investing activities
-1,574	-3,556	-3,025	-2,595	-1,682	12,671	-52,331	-675	-4,987	-4,860	8,851	-4,704	-6,307	353,129	-8,973	-15,643	-10,534	185,808	-13,525	-21,623	-7,370	-368,240	-2,429	-71,483	-1,203	-2,367	584	-10,660	-1,400	-601	-956	-2,248	-2,830	-2,011	-979	-10,139	-1,485
Financing activities
Excess tax benefit upon exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	125	250	1,989	-113	489	2,023	323	121	359	482	158	31	12	27	21	14	0	0	1
Proceeds from debt
162,000	0	0	12,000	0	-	-	-	-	-	-	-	-	9,000	21,000	7,500	15,000	34,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	5,000	10,000	100,000
Proceeds from issuance of preferred stock, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	80,667	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends
1,095	1,108	1,110	1,098	1,087	1,111	1,112	1,101	1,089	1,113	1,114	1,101	1,090	1,110	1,112	1,098	1,099	1,114	1,116	1,104	594	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common stock, for treasury
7,299	434	5,991	155	217	79	-419	19,261	37,167	10,601	9	1	18,753	17,164	20,680	12,955	19,579	36,100	4	13	721	23	0	31	470	93	0	70	384	0	3,489	51	118	-0	0	51	0
Proceeds from common stock issued pursuant to stock option exercise
2,054	4,257	502	3,826	2,557	0	8	3,104	9,301	393	500	929	99	9	3,312	611	176	404	2,113	178	2,199	139	1,730	8,644	506	825	2,595	4,771	1,878	691	36	142	80	22	0	31	2
Restricted stock surrendered for employee tax payment
37	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	334,200	7,750	7,750	7,750	212,187	5,813	15,813	71,312	-	-	-	-	0	76,000	3,750	2,750	10,500	4,993	2,500	2,500	2,500	19,531	12,476	112,303
Other financing activities
77	-	75	421	145	-	736	489	1,304	-	973	68	670	-	0	-47	0	-	-	-	-	-	-	-	-	1	3	2	3	3	3	3	14	3	3	3	3
Payment of contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	7,496	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0	45	0	2,606
Other financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	-259	-30	1	-	44	-6	-2	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
155,546	2,638	-6,674	2,152	1,108	-37,699	34,150	-17,747	-30,259	-11,441	-1,596	-337	-20,414	-344,600	-5,230	-13,739	-13,252	-217,359	-4,954	-16,532	4,733	373,074	2,235	77,430	357	853	868	1,431	-1,101	-9,793	-8,461	-2,414	-2,531	-2,466	-14,580	-2,498	-14,909
Effect of exchange rate changes on cash
-	-	-	-	-	-280	72	-168	115	514	-142	58	548	-1,318	494	-91	-442	-448	-2,454	5,020	-3,029	-2,149	-2,005	784	-155	-172	95	-153	-83	-51	160	-162	78	40	-159	-14	89
Net change in cash, cash equivalents and restricted cash
192,804	19,953	7,299	-16,203	38,257	-39,881	12,279	-52,124	-9,513	2,328	34,779	-31,918	10,025	3,719	-6,207	-26,393	10,447	-41,707	-18,684	-24,969	9,724	23,508	13,898	17,160	6,845	7,892	17,129	-9,106	27,217	-7,894	13,578	3,124	3,871	-5,321	-5,660	-3,450	-3,643
Supplemental cash flow information
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	460	254	895	2,790	2,918	3,165	-	3,928	4,555	4,439	6,796	1,147	2,164	619	2,335	510	2,262	732	2,372	880	2,428	825	2,625	1,003	3,152	1,822
Cash (received) paid for income taxes
-	-	-	-	-	-	-	-	-	-	-	7,282	454	5,790	4,772	16,701	28,564	-	4,116	10,771	1,713	2,675	2,972	10,526	2,216	2,604	745	8,276	1,770	2,710	419	2,758	2,990	1,682	1,846	3,606	4,158
Significant noncash investing activities:
Accrued unfunded future equity investment capital contributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,531	-	-827	9,328	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of equipment through capital lease obligation
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less:
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,768	0	1,665	-	-	-	-	-	-	-	-	0	0	0	190	-389	-1,183	6,462	0