Providence Service Corp PRSC Cash Flow

Providence service corp (PRSC)

CashFlow / TTM

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
16,482	966	-13,457	-14,277	-23,969	-18,825	40,740	48,354	63,497	53,820	97,507	83,512	83,766	89,846	82,856	76,493	79,074	83,194	14,464	20,140	20,237	20,275	16,581	19,843	19,047	19,438	18,946	16,576	12,118	8,482	8,570	9,364	15,512	16,940	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
9,897	10,582	12,852	14,914	16,957	18,769	18,957	18,862	18,964	18,542	18,462	19,426	20,484	21,699	21,986	21,587	20,666	20,234	20,400	19,308	17,037	14,051	10,874	8,773	7,907	7,738	7,761	7,968	7,742	7,537	7,298	6,641	6,328	5,921	0	0	0
Amortization
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization
-	-	-	-	-	-	0	0	8,034	-	7,800	12,318	19,174	26,026	33,050	36,007	37,071	38,067	36,626	31,166	23,623	15,437	9,716	7,506	6,964	7,134	7,196	7,284	7,384	7,486	7,632	7,671	7,704	7,735	0	0	0
Provision for doubtful accounts
4,818	4,078	4,980	6,146	6,133	6,062	1,729	487	1,190	1,372	2,821	2,903	3,463	3,759	2,717	3,108	2,434	2,539	2,837	2,869	2,631	2,589	2,445	2,726	3,244	3,245	3,457	3,286	3,056	2,305	2,171	2,224	2,102	3,131	0	0	0
Stock-based compensation
4,356	5,414	7,031	8,107	10,163	8,993	9,166	8,800	7,010	7,543	6,518	6,210	5,990	5,136	21,004	22,511	24,370	26,622	11,009	12,220	10,018	7,562	6,052	2,734	2,569	3,079	2,689	3,118	3,724	3,873	4,528	4,365	4,051	3,675	0	0	0
Deferred income taxes
12,429	71	2,050	774	-866	-545	-16,536	-18,928	-20,648	-22,996	-5,746	-10,769	-12,971	-14,130	-7,645	-5,289	-2,452	-10	-9,205	-10,230	-5,387	-5,208	-8,491	-5,269	-4,594	-3,282	999	650	-396	-816	-521	321	48	-530	0	0	0
Amortization of deferred financing costs and debt discount
225	293	376	405	447	512	574	641	673	682	697	1,050	1,397	1,754	2,003	2,023	2,034	2,041	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,463	0	0	0
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	1,019	1,094	1,116	1,138	1,159	1,307	1,501	1,695	0	0	0
Excess tax benefit upon exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,251	2,615	4,388	2,722	2,956	2,826	1,285	1,120	1,030	683	228	91	74	62	36	17	0	0	0
Equity in net loss of investee
-30,579	-29,685	-8,205	-6,575	-5,407	-6,072	9,019	10,116	11,793	12,054	-5,585	-6,641	-9,630	-10,287	-8,655	-11,604	-11,204	-10,970	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reduction of right of use assets
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes and income taxes receivable on sale of business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,797	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-cash (credits) charges
-	-	-	-	-	353	373	712	254	-296	-510	114	1,341	1,323	0	0	0	-	-	-3,273	-2,804	-3,088	-453	239	377	364	543	264	198	158	-92	240	246	645	0	0	0
Changes in operating assets and liabilities:
Accounts receivable and other receivables
24,075	29,928	43,857	4,393	16,952	30,997	15,152	19,329	7,762	-5,715	7,863	21,750	40,789	19,332	20,920	32,250	14,408	86,627	87,735	56,380	54,373	17,208	15,143	16,406	14,253	-7,186	1,252	4,817	-598	16,589	16,899	19,666	10,192	9,019	0	0	0
Management fee receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,150	-1,990	-2,889	-2,302	0	0	0
Other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-2,327	-1,691	-2,173	-1,199	-1,407	-1,540	-794	-556	115	-62	-1,663	-2,334	0	0	0
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-282	-166	-158	141	106	-81	32	-163	-117	65	-106	80	0	0	0
Prepaid expenses and other
24,358	-631	-27,679	-20,747	-21,011	-14,253	-22,183	-7,975	-14,131	-15,457	-13,359	-18,366	4,229	4,058	7,965	2,521	-6,555	-14,654	-5,273	11,551	7,046	7,361	-5,260	-5,464	-5,480	856	2,219	1,364	476	-256	1,041	2,314	1,449	680	0	0	0
Self-funded insurance programs
1,732	809	316	-2,684	-3,234	-2,743	-1,355	-2,151	-5,147	-5,731	-10,018	-11,768	-3,786	-4,110	-4,801	-7,518	-1,218	-611	4,940	8,804	4,590	3,761	1,256	-89	-21	-19	1,981	2,893	897	1,034	733	-1,039	-1,459	-431	0	0	0
Income taxes on gain from sale of business
0	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
38,176	-4,144	-4,932	-7,159	-30,052	-21,799	-31,908	-12,213	-19,153	-9,064	-2,572	-12,403	41,633	33,365	21,186	4,397	-31,912	-21,900	4,452	39,066	33,704	28,483	16,594	10,317	16,376	18,863	15,116	17,153	13,169	2,412	-2,205	-3,724	-6,880	-5,342	0	0	0
Income taxes on gain from sale of business
-	-	-	-	-	-	-	-	-	-	-	-	-	-30,153	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued transportation costs
-43,750	2,175	-2,065	-6,252	11,258	1,301	13,281	10,265	9,316	11,232	5,558	7,991	7,323	8,654	17,354	15,142	11,145	9,045	17,828	-7,002	18,458	530	4,880	12,775	-4,393	-6,354	-8,147	-3,228	5,442	13,660	17,358	14,703	5,593	5,788	0	0	0
Deferred revenue
-599	-1,298	-993	-13,188	-9,996	-1,975	-1,622	3,193	962	-4,691	-1,096	-2,571	-2,528	-4,019	-6,313	5,936	16,680	19,043	13,814	11,153	-706	-3,454	-946	-1,757	-5,557	-3,366	-569	1,508	5,954	4,862	3,218	641	-1,325	-3,179	0	0	0
Other long-term liabilities
3,138	4,550	4,737	4,032	83	1,634	-1,724	-2,882	-2,179	-629	619	2,145	3,986	4,462	5,457	4,824	2,447	463	4,707	3,500	2,901	-790	-5,149	-3,824	-2,837	152	251	78	39	3,556	3,561	3,614	3,834	398	0	0	0
Net cash provided by operating activities
60,941	60,940	25,496	38,886	21,112	7,899	40,587	37,865	44,464	55,044	33,437	13,273	43,288	41,765	35,549	30,296	35,382	16,097	46,628	60,476	62,739	55,195	43,950	43,435	33,282	55,237	48,210	55,463	63,135	42,488	39,052	26,276	27,529	31,038	0	0	0
Investing activities
Purchase of property and equipment
10,750	10,858	11,629	13,006	14,216	17,521	17,824	17,970	19,172	19,923	22,581	28,325	37,140	41,216	45,166	45,586	38,492	35,072	35,453	28,097	26,913	23,242	15,393	14,956	11,468	10,183	8,370	6,687	6,792	9,522	10,195	11,105	13,655	11,306	0	0	0
Net increase from short-term investments
-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	18	-	19	19	19	19	-186	-184	-180	-177	31	33	-461	-444	-424	-406	109	113	0	0	0
Loan to joint venture
-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,433	0	0	0	-	-	-	-	-	-	-	-	190	-199	-1,383	5,079	4,889	0	0	0
Purchase of equity investment
-	-	-	-	-	-	-	-	-	-	-	-	-	13,663	8,668	8,669	19,301	16,072	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash for reinsured claims losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,311	-2,204	238	2,058	748	-1,223	3,939	3,108	1,620	-958	1,369	2,848	3,676	6,897	-1,126	-2,633	-1,525	-1,246	-2,883	-1,692	0	0	0
Net cash used in investing activities
-10,750	-10,858	5,369	-43,937	-42,017	-45,322	-62,853	-1,671	-5,700	-7,020	350,969	333,145	322,206	317,979	150,658	146,106	140,126	143,290	-410,758	-399,662	-449,522	-443,355	-77,482	-74,469	-13,646	-13,843	-12,077	-13,617	-5,205	-6,635	-8,045	-8,069	-15,960	-14,616	0	0	0
Financing activities
Excess tax benefit upon exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,251	2,615	4,388	2,722	2,956	2,826	1,285	1,120	1,030	683	228	91	74	62	36	17	0	0	0
Proceeds from debt
174,000	12,000	0	0	0	-	-	-	-	-	-	-	-	52,500	77,500	56,500	49,000	34,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	115,000	0	0	0
Proceeds from issuance of preferred stock, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	80,667	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends
4,411	4,403	4,406	4,408	4,411	4,413	4,415	4,417	4,417	4,418	4,415	4,413	4,410	4,419	4,423	4,427	4,433	3,928	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common stock, for treasury
13,879	6,797	6,442	32	19,138	56,088	66,610	67,038	47,778	29,364	35,927	56,598	69,552	70,378	89,314	68,638	55,696	36,838	761	757	775	524	594	594	633	547	454	3,943	3,924	3,658	3,657	168	169	51	0	0	0
Proceeds from common stock issued pursuant to stock option exercise
10,639	11,142	6,885	6,391	5,669	12,413	12,806	13,298	11,123	1,921	1,537	4,349	4,031	4,108	4,503	3,304	2,871	4,894	4,629	4,246	12,712	11,019	11,705	12,570	8,697	10,069	9,935	7,376	2,747	949	280	244	133	56	0	0	0
Restricted stock surrendered for employee tax payment
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	357,450	235,437	233,500	241,563	305,125	0	0	0	-	-	-	-	82,500	93,000	21,993	20,743	20,493	12,493	27,031	37,007	146,811	0	0	0
Other financing activities
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	9	11	11	12	23	23	24	25	15	0	0	0
Payment of contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,496	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,651	0	0	0
Other financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-286	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
153,662	-776	-41,113	-289	-20,188	-51,555	-25,297	-61,043	-43,633	-33,788	-366,947	-370,581	-383,983	-376,821	-249,580	-249,304	-252,097	-234,112	356,321	363,510	457,472	453,096	80,875	79,508	3,509	2,051	-8,595	-17,924	-21,769	-23,199	-15,872	-21,991	-22,076	-34,455	0	0	0
Effect of exchange rate changes on cash
-	-	-	-	-	-261	533	319	545	978	-854	-218	-367	-1,357	-487	-3,435	1,676	-911	-2,612	-2,163	-6,399	-3,525	-1,548	552	-385	-313	-192	-127	-136	25	116	-203	-55	-44	0	0	0
Net change in cash, cash equivalents and restricted cash
203,853	49,306	-10,528	-5,548	-41,469	-89,239	-47,030	-24,530	-4,324	15,214	16,605	-24,381	-18,856	-18,434	-63,860	-76,337	-74,913	-75,636	-10,421	22,161	64,290	61,411	45,795	49,026	22,760	43,132	27,346	23,795	36,025	12,679	15,251	-3,987	-10,562	-18,077	0	0	0
Supplemental cash flow information
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	4,399	6,857	9,768	0	0	15,425	-	19,718	16,937	14,546	10,726	6,265	5,628	5,726	5,839	5,876	6,246	6,412	6,505	6,758	6,882	7,607	8,605	0	0	0
Cash (received) paid for income taxes
-	-	-	-	-	-	-	-	-	-	-	18,298	27,717	55,827	0	0	48,406	-	19,275	18,131	17,886	18,389	18,318	16,091	13,841	13,395	13,501	13,175	7,657	8,877	7,849	9,276	10,125	11,294	0	0	0
Significant noncash investing activities:
Accrued unfunded future equity investment capital contributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,185	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of equipment through capital lease obligation
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less:
Acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,433	0	0	0	-	-	-	-	-	-	-	-	190	-199	-1,383	5,079	4,889	0	0	0