Radnet, inc. (RDNT)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss

23,440

38,133

2,075

8,004

8,638

10,662

11,542

12,392

8,012

8,388

-2,175

Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization

80,607

72,899

66,796

66,610

60,611

4,718

4,728

4,607

3,856

3,703

53,800

Amortization of operating lease right-of-use assets

66,842

-

-

-

-

-

-

-

-

-

-

Provision for bad debts

0

0

46,555

45,387

36,033

2,832

2,777

2,752

2,211

2,112

32,704

Equity in earnings of joint ventures, net of dividends

-248

-13,469

4,864

-

-

-

-

-

-

-

-

Deferred rent amortization

-

-

-

-

-

-206

-155

-122

-112

1,048

1,094

Loss on sale and disposal of equipment

-

-

-

-

-

-19

143

35

-195

125

523

Gain on return from common stock

-

-

-

5,032

0

-

-

-

-

-

-

Equity in earnings of joint ventures

-

-

-

9,767

8,927

-

-

-

-

-

-5,209

Proceeds from Equity Method Investment, Distribution

-

-

-

2,926

7,731

-

-

-

-

-

4,420

Amortization of deferred financing costs and loan discount

4,184

3,898

3,483

5,045

5,369

-

-

-

-

-

2,678

Loss on sale and disposal of equipment and other

-2,383

2,054

-1,142

-767

-866

-

-

-

-

-

-

Gain on bargain purchase

-

-

-

-

-

-

-

-

-

-

1,387

Gain on sale of imaging centers

0

0

3,146

0

5,434

-

-

-

-

-

-

Gain on re-measurement of pre-existing interest

768

39,539

0

0

-

-

-

-

-

-

-

Loss on impairment

0

3,937

0

0

-

-

-

-

-

-

-

Amortization of cash flow hedge

-

-

-

-

-

-

-

-

-

-

6,119

Stock-based compensation

8,730

7,662

6,787

5,826

7,647

-

-

-

-

-

3,607

Other noncash items included in cost of operations

559

0

0

-

-

-

-

-

-

-

-

Non cash severance

188

0

1,047

0

0

-

-

-

-

-

-

Change in fair value of contingent consideration

-3,123

1,749

0

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in purchase transactions:
Accounts receivable

17,482

-2,145

37,164

47,055

34,514

1,669

2,783

3,022

3,036

-2,415

-24,432

Other current assets

3,557

9,248

-1,461

-11,038

14,198

-537

69

264

31

748

51

Other assets

2,326

1,687

801

-1,267

3,813

-

-

-

-

-

4,206

Deferred taxes

3,888

6,935

-19,504

-3,446

-4,036

-

-

-

-

-

-

Operating lease liability

66,831

-

-

-

-

-

-

-

-

-

-

Due from affiliates

-

-

-

-

-

2,718

1,668

-1,293

372

4,110

-

Deferred rent

0

6,312

2,135

-1,668

7,011

-

-

-

-

-

-

Deferred revenue

-1,082

-208

1,034

-82

-366

-

-

-

-

-

-

Accounts payable, accrued expenses and other

17,316

26,221

36,181

4,929

-3,653

-459

-84

-1,424

878

517

619

Net cash provided by operating activities

104,322

116,754

142,225

91,641

67,037

13,716

14,145

16,177

11,601

18,336

76,618

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of imaging facilities

27,150

73,192

27,612

6,641

90,792

0

-

2,935

0

133

6,085

Equity investments at fair value

143

2,200

500

0

-

-

-

-

-

-

315

Purchase of property and equipment

74,153

72,180

61,336

59,251

42,964

669

1,965

1,091

2,576

2,495

30,752

Proceeds from sale of equipment

1,160

2,575

852

481

1,282

1

30

35

0

305

219

Proceeds from sale of imaging facilities

-

-

-

-

-

-

-

-

-

-

650

Proceeds from the sale of equity interests in a joint venture

132

0

0

0

35,500

-

-

-

-

-

-

Proceeds from sale of imaging and medical practice assets

0

0

8,429

-

-

-

-

-

-

-

-

Proceeds from sale of internal use software

0

248

492

301

443

-

-

-

-

-

-

Nulogix return of capital

792

0

0

-

-

-

-

-

-

-

-

Cash contribution from partner in JV formation

0

0

1,473

994

0

-

-

-

-

-

-

Equity contributions in existing and purchase of interest in joint ventures

103

2,000

1,118

1,374

265

-

-

-

-

-

-

Net cash used in investing activities

-99,465

-146,749

-79,320

-65,490

-96,796

-668

-1,935

-3,991

-2,576

-2,323

-36,283

CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on notes and leases payable

6,494

6,072

6,836

11,880

9,773

835

1,200

2,976

2,764

2,576

23,660

Payments on term loan debt

40,742

33,830

196,666

469,086

23,727

-

-

-

-

-

-

Payments on deferred financing costs and debt discount

-

-

-

945

0

-

-

-

-

-

-

Proceeds from debt issuance, net of issuance costs

97,144

0

164,938

476,504

73,869

-

-

-

-

-

-

Payments on interest rate swaps, net of amounts received

-

-

-

-

-

-

-

-

-

-

-4,739

Distributions paid to noncontrolling interests

3,057

1,427

1,528

492

729

12,498

12,500

11,821

5,980

13,085

116

Proceeds from sale of noncontrolling interest

5,275

0

7,720

992

5,005

-

-

2,300

0

0

-

Contribution from noncontrolling partner

750

2,640

125

0

0

-

-

-

-

-

-

Proceeds from revolving credit facility

261,200

204,300

200,800

435,900

248,400

-

-

-

-

-

-1,742

Payments on revolving credit facility

289,200

176,300

200,800

435,900

263,700

-

-

-

-

-

-

Purchase of noncontrolling interests

0

200

0

1,153

0

-

-

-

-

-

-

Proceeds from issuance of common stock upon exercise of options

75

20

0

150

594

-

-

-

-

-

16

Net cash provided by financing activities

24,951

-10,869

-32,247

-5,910

29,939

-13,333

-13,700

-12,497

-8,744

-15,661

-30,241

EFFECT OF EXCHANGE RATE CHANGES ON CASH

-32

-69

26

-49

-41

-

-

-

-

-

-

NET INCREASE IN CASH AND CASH EQUIVALENTS

29,776

-40,933

30,684

20,192

139

-285

-1,490

-311

281

352

10,094

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for interest

46,254

37,016

34,197

37,487

36,028

60

86

245

381

702

40,092

Cash paid during the period for income taxes

5,884

4,933

4,939

2,798

1,781

-

-

-

-

-

348

Equipment acquired and leasehold improvements

51,700

47,800

18,500

28,800

32,400

-

-

-

-

-

-

Capital lease debt

51

6,700

5,500

1,300

7,800

-

-

-

-

-

-

Gain (loss) on equity method investment

-134

-

-

-

-

-

-

-

-

-

-

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

-3,123

1,749

0

-

-

-

-

-

-

-

-

Noncontrolling Interest
Net income

8,684

5,890

2,022

774

-

-

-

-

-

-

-

Special distribution from noncontrolling interest

9,200

-

-

-

-

-

-

-

-

-

-

Radnet, Inc. Stockholders' Equity
Net income

14,756

32,243

53

7,230

-

-

-

-

-

-

-

Special distribution from noncontrolling interest

3,000

-

-

-

-

-

-

-

-

-

-

Medical Arts Radiology
Change in value of contingent consideration

-

1,700

-

-

-

-

-

-

-

-

-

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

-

1,700

-

-

-

-

-

-

-

-

-