Radnet, inc. (RDNT)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss

11,364

23,440

42,107

42,788

41,665

38,133

249

-1,675

-2,519

2,075

12,356

10,495

8,251

8,004

5,520

11,823

12,007

8,638

20,650

16,868

18,561

10,662

7,904

3,028

533

11,542

5,692

11,040

11,178

12,392

12,894

7,961

8,668

8,012

0

0

0

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

82,921

80,607

79,670

76,660

74,663

72,899

69,899

69,472

67,998

66,796

67,388

67,653

66,852

66,610

66,316

63,599

62,729

60,611

3,361

3,183

3,441

4,718

5,871

6,210

5,539

4,728

5,503

4,110

4,475

4,607

4,484

5,424

4,827

3,856

0

0

0

Amortization of operating lease right-of-use assets

68,101

66,842

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for bad debts

-

-

-

-

-

-

-

-

-

46,555

46,691

46,257

46,729

45,387

44,621

42,801

38,862

36,033

6,182

4,281

3,414

2,832

3,912

3,413

2,848

2,777

4,109

3,650

3,090

2,752

5,404

4,388

3,664

2,211

0

0

0

Deferred rent amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-245

-155

-219

-860

23

-122

959

1,160

71

-112

0

0

0

Write off of deferred loan costs due to refinance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Amortization of bond and term loan discounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

Loss on sale and disposal of equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

67

143

-577

-627

-159

35

1,988

1,702

-430

-195

0

0

0

Equity in earnings of joint ventures

0

-

0

0

0

-

0

0

14,603

-

10,010

9,136

9,416

9,767

10,755

10,171

10,104

8,927

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Proceeds from Equity Method Investment, Distribution

-

-

-

-

-

-

0

0

9,188

-

6,782

4,821

3,211

2,926

4,405

3,634

6,728

7,731

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Amortization of deferred financing costs and loan discount

4,290

4,184

4,077

3,970

3,899

3,898

3,898

3,796

3,643

3,483

3,310

3,943

4,491

5,045

5,613

5,476

5,449

5,369

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Loss on sale and disposal of equipment and other

-2,183

-2,383

-2,140

-850

-853

2,054

1,890

1,097

749

-1,142

-1,220

-734

-722

-767

-467

-1,271

-904

-866

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on early extinguishment of Senior Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

-

-

-

-

-

-

-

Amortization of cash flow hedge

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Stock-based compensation

10,814

8,730

8,068

8,354

8,455

7,662

7,502

7,363

7,256

6,787

6,750

6,379

6,369

5,826

6,088

5,837

6,826

7,647

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Other noncash items included in cost of operations

-1

559

559

559

560

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of contingent consideration

-2,483

-3,123

0

-204

1,109

1,749

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-2,508

17,482

-8,319

2,784

1,209

-2,145

8,035

14,832

26,322

37,164

32,548

51,627

38,738

47,055

55,306

40,019

47,307

34,514

-8,733

-6,324

244

1,669

20,574

6,973

4,924

2,783

46,480

40,290

26,827

3,022

25,538

19,453

3,620

3,036

0

0

0

Other current assets

-2,791

3,557

5,137

4,349

11,435

9,248

7,200

3,660

1,579

-1,461

-3,599

-7,137

-9,793

-11,038

-11,850

2,686

11,697

14,198

10,337

-356

-7,827

-537

4,995

3,136

4,467

69

143

103

433

264

444

229

-84

31

0

0

0

Other assets

2,903

2,326

6,248

-1,282

-2,282

1,687

2,319

866

3,524

801

-825

-212

-419

-1,267

1,808

-94

2,668

3,813

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Deferred taxes

13,820

3,888

12,696

10,399

5,657

6,935

-19,004

-17,486

-17,835

-19,504

-4,051

-5,376

-3,968

-3,446

-2,712

-5,900

-6,002

-4,036

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Operating lease liability

68,313

66,831

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

6,312

2,395

2,093

1,461

2,135

1,147

-890

-135

-1,668

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-614

-1,082

-1,051

-1,027

-753

-208

959

742

1,081

1,034

286

363

46

-82

335

198

-234

-366

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Accounts payable, accrued expenses and other

21,911

17,316

25,184

17,736

24,730

26,221

49,710

40,512

43,666

36,181

2,747

960

4,044

4,929

6,988

9,753

1,939

-3,653

6,164

5,095

16,904

-459

-2,952

-10,137

-20,020

-84

-3,526

-3,895

3,458

-1,424

-12,761

-4,739

-4,478

878

0

0

0

Net cash provided by operating activities

118,335

104,322

111,499

114,341

119,341

116,754

154,499

139,014

135,642

142,225

112,495

90,376

101,574

91,641

81,702

90,505

70,531

67,037

19,738

21,994

36,045

13,716

5,678

5,046

-5,936

14,145

3,069

4,137

15,967

16,177

33,167

29,551

11,836

11,601

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of imaging facilities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of imaging facilities

45,748

27,150

82,949

86,247

100,313

73,192

22,101

31,802

30,277

27,612

22,942

9,942

4,788

6,641

56,158

62,988

95,799

90,792

31,809

32,596

-360

0

0

0

0

-

-1,764

-3,357

5,980

2,935

-3,069

-1,612

-5,763

0

0

0

0

Proceeds from sale of joint venture interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Equity investments at fair value

0

143

143

143

143

2,200

2,200

2,200

2,200

500

500

500

500

0

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Purchase of property and equipment

-

-

-

-

-

72,180

71,124

63,822

54,911

61,336

59,948

61,631

67,122

59,251

56,338

51,582

45,638

42,964

5,510

5,520

3,448

669

-3,431

414

6,086

1,965

5,103

4,093

55

1,091

3,572

3,008

922

2,576

0

0

0

Proceeds from sale of equipment

1,183

1,160

748

1,011

1,215

2,575

0

0

0

-

-

-

-

-

-

1,140

1,077

1,282

-117

202

202

1

286

-471

-236

30

-296

94

-105

35

531

155

175

0

0

0

0

Proceeds from sale of noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Proceeds from sale of imaging facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Proceeds from the sale of equity interests in a joint venture

0

132

132

132

132

0

-8,429

-5,627

-59

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity contributions in existing and purchase of interest in joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

1,374

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-119,329

-99,465

-159,129

-162,491

-152,095

-146,749

-95,103

-94,455

-75,203

-79,320

-72,278

-64,911

-71,655

-65,490

-112,179

-77,227

-104,976

-96,796

-401

-37,279

-2,097

-668

-5,277

-4,728

-5,762

-1,935

-852

2,735

-5,604

-3,991

132

-830

7,896

-2,576

0

0

0

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

5,695

6,494

6,476

5,999

6,049

6,072

5,913

6,460

6,414

6,836

7,958

9,339

10,872

11,880

12,347

12,114

10,909

9,773

-9,253

-4,564

936

835

10,457

5,357

432

1,200

-728

171

1,194

2,976

-453

178

753

2,764

0

0

0

Payments on term loan debt

42,546

40,742

38,938

36,759

34,580

33,830

33,080

201,081

198,873

196,666

194,460

468,854

468,971

469,086

469,201

24,715

24,715

23,727

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments on deferred financing costs and debt discount

-

-

-

-

-

-

-

-

-

-

5,067

1,515

1,515

945

0

0

0

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

0

0

0

Proceeds from debt issuance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Payments on interest rate swaps, net of amounts received

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

0

0

0

Distributions paid to noncontrolling interests

-

-

-

-

-

1,427

1,376

1,786

1,802

1,528

1,065

990

819

492

608

273

419

729

12,963

12,972

12,833

12,498

0

0

0

-

-

-

-

11,821

5,936

5,973

5,973

5,980

0

0

0

Proceeds from sale of noncontrolling interest

0

5,275

5,275

5,275

5,275

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contribution from noncontrolling partner

0

750

3,390

3,390

3,390

2,640

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on Senior Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Proceeds from revolving credit facility

332,200

261,200

411,500

420,700

349,200

204,300

105,400

81,200

95,700

200,800

230,700

339,800

414,800

435,900

0

0

0

-

-

-

0

-

0

0

0

-

0

0

0

-

-

-

0

-

0

0

0

Payments on revolving credit facility

293,200

289,200

411,500

420,700

308,200

176,300

105,400

81,200

95,700

200,800

232,300

353,600

431,100

435,900

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock upon exercise of options

25

75

60

70

70

20

0

0

0

-

-

-

-

-

-

-

-

594

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Net cash provided by financing activities

84,871

24,951

58,123

62,407

8,238

-10,869

-40,560

-40,949

-33,736

-32,247

-32,109

-13,180

-21,984

-5,910

-5,199

-18,148

34,701

29,939

24,259

27,615

-26,246

-13,333

-10,001

-9,376

1,977

-13,700

-391

-4,930

-9,920

-12,497

-34,721

-30,203

-19,696

-8,744

0

0

0

EFFECT OF EXCHANGE RATE CHANGES ON CASH

-23

-32

-32

-5

-99

-69

-77

-65

46

26

2

-11

-51

-49

-20

-16

0

-41

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

NET INCREASE IN CASH AND CASH EQUIVALENTS

83,854

29,776

10,461

14,252

-24,615

-40,933

18,759

3,545

26,749

30,684

8,110

12,274

7,884

20,192

-35,696

-4,886

256

139

43,600

12,308

7,683

-285

-9,534

-8,960

-9,680

-1,490

1,662

1,799

379

-311

-1,413

-1,491

28

281

0

0

0

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

45,892

46,254

45,938

42,799

38,262

37,016

32,199

32,683

32,212

34,197

39,802

37,965

39,437

37,487

0

0

0

-

-

-

-5,824

60

5,861

1,758

9,063

86

-5,215

-2,414

-1,065

245

1,608

1,603

892

381

0

0

0

Equipment acquired and leasehold improvements

49,900

51,700

47,700

48,200

44,300

47,800

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital lease debt

-

-

-

-

-

6,700

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equipment and leasehold improvements not yet paid for

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Capital lease debt incurred

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in joint venture, capital contribution

-

-

-

-

-

-

-

-

-

-

0

0

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

-

-

-

-

-

-

-

-