RadNet, Inc. RDNT Cash Flow

Radnet, inc. (RDNT)

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
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss
-13,998	12,680	5,092	7,590	-1,922	31,347	5,773	6,467	-5,454	-6,537	3,849	5,623	-860	3,744	1,988	3,379	-1,107	1,260	8,291	3,563	-4,476	13,272	4,509	5,256	-12,375	10,514	-367	2,761	-1,366	4,664	4,981	2,899	-152	5,166	48	3,606	-808
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization
21,934	20,414	20,490	20,083	19,620	19,477	17,480	18,086	17,856	16,477	17,053	16,612	16,654	17,069	17,318	15,811	16,412	16,775	14,601	14,941	14,294	-40,475	14,423	15,199	15,571	-39,322	14,762	14,528	14,760	-38,547	13,369	14,893	14,892	-38,670	14,309	14,296	13,921
Amortization of operating lease right-of-use assets
17,259	16,894	17,011	16,937	16,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for bad debts
-	-	-	-	-	-	-	-	-	11,368	11,687	11,854	11,646	11,504	11,253	12,326	10,304	10,738	9,433	8,387	7,475	-19,113	7,532	7,520	6,893	-18,033	7,033	6,955	6,822	-16,701	6,574	6,395	6,484	-14,049	5,558	5,671	5,031
Deferred rent amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	925	-	-	-	343	-3,048	1,049	1,411	433	-3,112	408	2,294	288	-2,031	609	1,205	105
Write off of deferred loan costs due to refinance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Amortization of bond and term loan discounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	626	625	400	-	1,175	-235	-234	-	-61	-61	-58
Loss on sale and disposal of equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-246	500	5	-192	-170	-220	-45	276	24	1,733	-331	-1,856	259
Equity in earnings of joint ventures
1,955	-	1,955	2,244	1,873	-	2,822	3,748	2,977	-	3,450	2,994	1,928	1,638	2,576	3,274	2,279	2,626	1,992	3,207	1,102	-	2,009	1,646	1,067	-	1,617	1,658	1,206	-	-909	-1,986	-1,262	-	-1,038	-1,267	-1,484
Proceeds from Equity Method Investment, Distribution
-	-	-	-	-	-	14,700	4,262	2,821	-	2,792	1,670	2,323	-3	831	60	2,038	1,476	60	3,154	3,041	-	2,317	3,175	1,866	-	1,653	2,050	1,921	-	2,151	1,800	1,575	-	1,698	606	1,764
Amortization of deferred financing costs and loan discount
1,081	1,081	1,082	1,046	975	974	975	975	974	974	873	822	814	801	1,506	1,370	1,368	1,369	1,369	1,343	1,288	-	1,288	1,323	1,833	-	610	609	457	-	598	603	602	-	719	719	748
Loss on sale and disposal of equipment and other
-771	-393	-917	-102	-971	-150	373	-105	1,936	-314	-420	-453	45	-392	66	-441	0	-92	-738	-74	38	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on early extinguishment of Senior Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-15,456	-	0	0	0	-	-	-	-	-	-	-	-
Amortization of cash flow hedge
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	276	275	276	-	306	306	306
Stock-based compensation
6,622	1,767	1,381	1,044	4,538	1,105	1,667	1,145	3,745	945	1,528	1,038	3,276	908	1,157	1,028	2,733	1,170	906	2,017	3,554	-	433	611	1,025	-	463	630	952	-	433	531	1,175	-	709	742	1,048
Other noncash items included in cost of operations
0	0	0	-1	560	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of contingent consideration
0	-1,374	204	-1,313	-640	1,749	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in purchase transactions:
Accounts receivable
-10,504	14,015	-8,575	2,556	9,486	-11,786	2,528	981	6,132	-1,606	9,325	12,471	16,974	-6,222	28,404	-418	25,291	2,029	13,117	6,870	12,498	-41,218	15,526	13,438	13,923	-22,313	1,925	11,389	11,782	21,384	-4,265	-2,074	-12,023	43,900	-10,350	-17,907	-12,607
Other current assets
-5,164	1,988	5,900	-5,515	1,184	3,568	5,112	1,571	-1,003	1,520	1,572	-510	-4,043	-618	-1,966	-3,166	-5,288	-1,430	12,570	5,845	-2,787	-5,291	1,877	-1,626	4,503	241	18	-295	105	315	-22	35	-64	495	-237	-278	51
Other assets
-677	-3,444	7,839	-815	-1,254	478	309	-1,815	2,715	1,110	-1,144	843	-8	-516	-531	636	-856	2,559	-2,433	3,398	289	-	127	-630	575	-	1,081	-4,676	5,099	-	1,454	-1,204	-683	-	-949	982	-2,345
Deferred taxes
11,413	-342	688	2,061	1,481	8,466	-1,609	-2,681	2,759	-17,473	-91	-3,030	1,090	-2,020	-1,416	-1,622	1,612	-1,286	-4,604	-1,724	3,578	-	-1,656	-419	4,536	-	-117	692	0	-	-	-	-	-	-	-	-
Operating lease liability
17,345	17,110	17,453	16,405	15,863	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	3,915	609	486	1,302	-2	307	-146	1,976	-990	-1,730	609	443	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
28	-592	176	-226	-440	-561	200	48	105	606	-17	387	58	-142	60	70	-70	275	-77	-362	-202	-	472	171	-39	-	100	72	3	-	140	-154	86	-	-147	-44	-186
Accounts payable, accrued expenses and other
21,584	-2,033	16,489	-14,129	16,989	5,835	9,041	-7,135	18,480	29,324	-157	-3,981	10,995	-4,110	-1,944	-897	11,880	-2,051	821	-8,711	6,288	7,766	-248	3,098	-11,075	5,273	-7,433	-6,785	8,861	1,831	-7,802	568	3,979	-9,506	220	829	9,335
Net cash provided by operating activities
40,913	21,719	38,068	17,635	26,900	28,896	40,910	22,635	24,313	66,641	25,425	19,263	30,896	36,911	3,306	30,461	20,963	26,972	12,109	10,487	17,469	-20,327	14,365	24,538	-4,860	-28,365	13,733	13,556	15,221	-39,441	14,801	25,386	15,431	-22,451	11,185	7,671	15,196
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of imaging facilities
4,300	-	-	-	3,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of imaging facilities
51,538	0	1	-5,791	32,940	55,799	3,299	8,275	5,819	4,708	13,000	6,750	3,154	38	0	1,596	5,007	49,555	6,830	34,407	0	-9,428	7,617	1,451	360	-	2,293	0	3,625	-7,682	700	9,337	580	-13,686	2,157	5,186	6,343
Proceeds from sale of joint venture interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2,640	-	-	-	-	-	-	-	-
Equity investments at fair value
0	0	0	0	143	0	0	0	2,200	0	0	0	500	0	0	0	0	-	0	265	0	-	261	111	789	-	0	1,079	724	-	1,836	0	920	-	0	0	1,500
Purchase of property and equipment
-	-	-	-	-	9,585	17,462	21,187	23,946	8,529	10,160	12,276	30,371	7,141	11,843	17,767	22,500	4,228	7,087	11,823	19,826	-33,226	7,097	9,751	17,047	-37,326	10,942	15,423	12,926	-34,188	9,932	11,385	13,962	-31,707	9,368	9,299	15,616
Proceeds from sale of equipment
779	400	0	4	756	-12	263	208	2,116	-	-	-	-	-	-	63	0	634	443	0	205	-765	762	0	4	-480	5	235	270	-806	395	36	410	-310	19	56	235
Proceeds from sale of noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Proceeds from sale of imaging facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2,300	-	-	-	-
Proceeds from the sale of equity interests in a joint venture
0	0	0	0	132	0	0	0	0	-8,429	2,802	5,568	59	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity contributions in existing and purchase of interest in joint ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	0	640	440	294	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-55,059	-5,484	-17,136	-41,650	-35,195	-65,148	-20,498	-31,254	-29,849	-13,502	-19,850	-12,002	-33,966	-6,460	-12,483	-18,746	-27,801	-53,149	22,469	-46,495	-19,621	43,246	-14,409	-11,313	-18,192	38,637	-13,860	-12,347	-14,365	39,720	-10,273	-20,686	-12,752	43,843	-11,235	-11,960	-23,224
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on notes and leases payable
914	1,716	1,458	1,607	1,713	1,698	981	1,657	1,736	1,539	1,528	1,611	2,158	2,661	2,909	3,144	3,166	3,128	2,676	1,939	2,030	-15,898	7,365	7,439	1,929	-6,276	2,265	2,514	2,697	-8,204	3,164	3,537	4,479	-11,633	3,795	4,112	6,490
Payments on term loan debt
10,824	10,824	10,449	10,449	9,020	9,020	8,270	8,270	8,270	8,270	176,271	6,062	6,063	6,064	450,665	6,179	6,178	6,179	6,179	6,179	5,190	-	0	6,876	204,468	-	-	-	-	-	-	-	-	-	-	-	-
Payments on deferred financing costs and debt discount
-	-	-	-	-	-	-	-	-	-	4,497	0	570	0	945	0	0	-	-	-	-	-	4,263	-4,263	6,650	-	0	432	0	-	-	-	-	-	0	-1	218
Proceeds from debt issuance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,263	-4,263	210,000	-	0	35,122	0	-	-	-	-	-	-	-	-
Payments on interest rate swaps, net of amounts received
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-1,541	-1,546	-1,500	-	-1,655	-1,608	-1,611
Distributions paid to noncontrolling interests
-	-	-	-	-	514	0	154	759	463	410	170	485	0	335	-1	158	116	0	145	468	12,350	9	6	133	-	-	-	-	11,754	3	38	26	5,869	40	38	33
Proceeds from sale of noncontrolling interest
0	0	0	0	5,275	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contribution from noncontrolling partner
0	0	0	0	750	2,640	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on Senior Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Proceeds from revolving credit facility
215,900	10,000	15,000	91,300	144,900	160,300	24,200	19,800	0	61,400	0	34,300	105,100	91,300	109,100	109,300	126,200	-	-	-	9,400	-	6,120	880	18,100	-	2,400	-33,500	1,500	-	-	-	2,700	-	5,600	9,800	15,900
Payments on revolving credit facility
135,900	10,000	15,000	132,300	131,900	132,300	24,200	19,800	0	61,400	0	34,300	105,100	92,900	121,300	111,800	109,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock upon exercise of options
0	25	0	0	50	10	10	0	0	-	-	-	-	-	-	-	-	0	0	270	324	-	760	757	29	-	0	0	469	-	0	0	0	-	0	143	99
Net cash provided by financing activities
68,262	-13,754	-13,725	44,088	8,342	19,418	-9,441	-10,081	-10,765	-10,273	-9,830	-2,868	-9,276	-10,135	9,099	-11,672	6,798	-9,424	-3,850	41,177	2,036	-15,104	-494	-12,684	14,949	-11,772	131	-1,331	-728	1,537	-4,408	-6,321	-3,305	-20,687	110	4,186	7,647
EFFECT OF EXCHANGE RATE CHANGES ON CASH
1	-4	-23	3	-8	-4	4	-91	22	-12	16	20	2	-36	3	-20	4	-7	7	-4	-37	-	-19	-1	-18	-	13	-58	-59	-	34	21	5	-	16	22	13
NET INCREASE IN CASH AND CASH EQUIVALENTS
54,117	2,477	7,184	20,076	39	-16,838	10,975	-18,791	-16,279	42,854	-4,239	4,413	-12,344	20,280	-75	23	-36	-35,608	30,735	5,165	-153	7,853	-557	540	-8,121	-1,396	17	-180	69	1,756	154	-1,600	-621	654	76	-81	-368
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for interest
9,934	10,196	12,766	12,996	10,296	9,880	9,627	8,459	9,050	5,063	10,111	7,988	11,035	10,668	8,274	9,460	9,085	-	-	-	8,624	-32,329	8,925	8,956	14,508	-26,528	4,822	16,261	5,531	-31,829	7,623	17,610	6,841	-30,466	7,618	16,899	6,330
Equipment acquired and leasehold improvements
30,800	37,600	100	-18,600	32,600	33,600	600	-22,500	36,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease debt
-	-	-	-	-	2,700	0	0	4,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability
0	-	-	-	-640	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equipment and leasehold improvements not yet paid for
-	-	-	-	-	-	-	-	-	-	-3,100	-1,500	19,000	-	-700	-5,100	20,500	-	4,900	-1,500	12,300	-	2,800	8,800	5,000	-	-2,000	5,600	7,700	-	-	-	-	-	-	-	-
Capital lease debt incurred
-	-	-	-	-	-	-	-	-	-	200	5,200	0	-	0	1,300	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in joint venture, capital contribution
-	-	-	-	-	-	-	-	-	-	0	3,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fixed assets transferred from Beach Imaging LLC
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of fixed assets to new joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease debt relating to radiology equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-