U s physical therapy inc /nv (USPH)
CashFlow / Quarterly
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
OPERATING ACTIVITIES
Net income including non-controlling interests

3,338

12,015

13,069

19,800

12,375

13,673

11,879

13,236

10,054

8,706

6,594

6,390

6,034

6,510

6,134

7,671

5,953

6,265

6,974

7,957

5,293

2,153

7,418

9,420

6,323

5,754

2,259

7,374

5,609

5,793

6,298

7,314

6,812

10,142

5,853

7,603

6,185

Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities:
Depreciation and amortization

2,607

2,718

2,419

2,558

2,400

2,420

2,469

2,398

2,468

2,441

2,480

2,433

2,356

2,569

2,052

2,067

2,091

2,296

1,982

1,867

1,807

2,058

1,857

1,438

1,387

1,381

1,451

1,378

1,352

1,271

1,370

1,312

1,334

1,341

1,356

1,422

1,330

Provision for doubtful accounts

1,361

1,450

962

1,240

1,206

1,501

890

1,151

1,061

956

930

888

898

1,078

917

956

1,089

1,051

1,067

1,062

990

1,018

1,090

1,054

950

1,007

1,095

1,193

1,089

1,210

1,241

1,280

1,117

1,224

1,426

504

624

Equity-based awards compensation expense

1,886

1,723

1,704

1,830

1,728

1,486

1,516

1,556

1,381

1,622

1,065

1,065

1,280

1,214

1,264

1,263

1,221

1,123

1,162

1,215

991

907

863

858

735

651

722

731

639

513

546

496

547

541

528

519

444

Loss on sale and disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-18

-32

-33

-

-31

-19

19

-

-16

30

-17

-15

14

-15

-19

-102

-7,149

-70

-14

-304

46

25

58

-42

-65

-19

-56

Excess tax benefit from equity-based rewards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

131

386

159

271

422

311

89

126

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-1,369

971

-1,741

3,303

2,118

7,912

-1,363

-574

-1,162

-5,155

1,276

-735

-250

-259

735

680

1,823

3,035

862

1,583

473

1,218

1,466

842

1,580

2,912

253

-577

-219

1,203

1,489

-564

1,610

2,401

482

585

365

Write-off of goodwill - closed clinics

1,900

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

129

-24

99

9

12

39

34

40

54

-

-

-

-

-

-

-

-

84

69

77

34

-

-

-

-

-

-

0

33

-

-

-

-

1,208

-180

-217

-374

Write-off of goodwill - closed clinic

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
(Decrease) Increase in patient accounts receivable

-3,209

-1,795

3,215

58

4,898

2,342

-1,049

-641

2,782

1,533

-2,092

2,464

1,542

727

99

264

2,185

1,371

1,268

695

2,185

436

510

1,440

3,002

2,071

776

-887

3,429

365

-315

-566

2,179

1,336

83

-46

3,774

Increase in accounts receivable - other

1,752

1,493

-1,462

1,973

495

-2,867

1,020

2,085

849

-1,714

1,330

-291

3,697

516

-63

-10

-43

707

310

-40

-125

-403

-18

226

-146

-36

45

70

-74

79

82

-26

426

-287

165

703

409

Increase (Decrease) in other assets

-2,846

-866

-15

1,865

894

-112

-373

-1,098

1,238

-2,873

-1,555

3,099

-757

-3,580

2,536

161

2,282

-110

1,472

119

-106

-2,958

3,343

-805

-735

-655

2,719

-1,772

-2,095

1,056

-170

-263

-38

-55

776

1,606

-355

Increase in accounts payable and accrued expenses

2,027

-3,769

4,340

-5,054

274

-4,866

4,897

-2,544

7,389

-1,147

3,083

-272

5,315

-588

-3,021

2,746

3,857

-3,245

192

2,018

-5,976

3,607

-965

4,467

-5,241

5,732

-1,581

3,142

-2,460

1,369

-1,016

3,035

-3,728

2,684

-946

-1,233

685

Amount of increase (decrease) in mandatorily redeemable non-controlling interests.

-

-

-

-

-

-

-

-

-

4,510

668

3,490

2,911

226

1,344

1,450

2,578

1,826

593

-316

406

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in other liabilities

239

-577

258

-438

-263

-1,956

2,660

173

-845

170

209

1

76

-1,154

1,059

82

365

1,016

-547

262

665

-3,985

203

220

184

195

645

-37

56

982

369

43

-12

-882

192

207

208

Net cash provided by operating activities

16,380

15,984

17,843

15,058

13,563

19,000

23,384

15,090

15,531

15,695

18,640

8,020

14,171

12,054

7,943

16,519

14,534

11,349

8,934

14,762

2,475

12,565

7,772

17,364

3,690

15,936

8,143

15,863

4,853

9,899

10,383

13,796

5,171

12,062

7,752

7,146

5,695

INVESTING ACTIVITIES
Purchase of fixed assets

2,754

2,761

2,552

2,379

2,497

1,886

2,037

1,866

1,404

1,519

2,331

1,658

1,587

2,640

2,167

1,715

1,738

1,573

1,817

1,454

1,419

1,255

1,780

1,283

849

1,179

1,064

1,124

1,270

1,286

1,005

1,047

896

794

944

624

860

Cash paid, net of cash acquired

11,633

232

12,126

18,239

0

-

-

-

-

2,942

75

17,995

15,670

10,665

0

59

12,899

4,531

-33

8,022

6,445

30

1,490

10,625

125

36,500

130

5,783

4,215

527

222

6,090

1,090

-

-

-

-

The cash outflow associated with the acquisition of a redeemable non-controlling interest.

1,852

2,952

3,646

0

2,053

0

0

-761

761

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of non-controlling interest, permanent equity

0

290

0

-1

139

78

27

-1

246

0

0

0

0

6

414

-138

388

26

-26

609

359

-

-

2,112

2,833

208

604

108

956

930

588

161

565

1,504

3,050

15,870

15

Proceeds on sale of fixed assets

316

0

-1

6

59

-1

1

1

0

14

5

0

62

19

0

0

42

0

-1

64

8

4

5

22

16

11

433

1

14

-

-

22

6

1

1

1

3

Net cash used in investing activities

-15,923

-6,028

-6,724

-20,611

-4,630

-2,029

-9,248

-10,221

-2,411

-4,326

-2,401

-19,653

-17,195

-13,292

-2,581

-1,636

-14,983

-6,130

-1,759

-10,021

-8,215

3,490

-3,318

-13,998

-3,791

-37,643

-1,365

-7,014

-6,427

-2,737

-1,546

-7,276

-2,545

-2,099

-12,142

-16,493

-872

FINANCING ACTIVITIES
Distributions to non-controlling interests, permanent and temporary equity

2,341

5,373

2,928

5,358

2,576

5,176

3,735

4,527

2,208

1,874

1,033

1,728

937

1,277

1,548

1,780

1,113

1,744

1,244

1,859

1,045

-1,104

2,085

3,569

1,413

2,576

2,178

2,816

1,594

2,482

2,099

2,832

1,919

2,485

2,685

2,608

1,989

Cash dividends paid to shareholders

-

-

-

-

-

-

-

-

-

-

-

-

-

2,128

2,128

2,129

2,125

-

-

-

-

-

-

-

-

1,210

1,210

1,211

1,207

5,834

1,066

1,059

1,058

946

953

947

943

Proceeds from revolving line of credit

88,000

35,000

30,000

61,000

19,000

24,000

24,000

36,000

19,000

30,000

14,000

17,000

32,000

40,000

35,000

44,000

49,000

28,000

24,000

17,000

34,000

22,000

35,300

48,000

29,000

62,350

25,900

31,950

30,600

24,000

23,500

24,000

8,400

24,900

51,700

38,300

4,000

Payments on revolving line of credit

20,000

40,000

41,000

28,000

28,000

40,000

26,000

22,000

31,000

32,000

27,000

6,000

20,000

30,000

41,500

54,000

40,500

30,000

19,000

17,500

27,000

34,000

33,800

48,500

23,500

36,500

27,500

36,600

27,600

22,700

27,400

28,200

7,700

27,800

41,100

27,300

4,700

Payments to settle mandatorily redeemable non-controlling interests

-

-

-

-

-

0

0

0

265

131

0

0

2,230

126

0

0

1,136

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on notes payable

114

24

352

575

482

1,750

396

1,075

823

451

-1

75

702

208

59

283

250

268

8

408

200

250

0

325

250

0

225

184

50

-

-

-

-

150

0

0

100

Tax benefit from equity-based rewards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

131

386

159

271

422

311

89

126

418

244

0

33

970

197

126

58

-

-

-

-

Excess tax benefit from stock options exercised

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

395

Other

1

-35

-10

-2

-5

0

6

-104

56

121

0

40

0

0

0

0

1

-

-

-

-

-177

177

44

1

0

27

15

5

22

3

0

50

-

0

1

1

Net cash provided by (used in) financing activities

65,546

-14,264

-18,122

20,174

-12,063

-25,844

-9,043

2,466

-15,240

-6,854

-19,063

6,721

8,131

6,261

-10,791

-13,636

3,877

-9,999

411

-6,326

6,026

-17,608

-1,564

-7,193

3,964

22,482

-4,942

-8,846

187

-6,174

-6,965

-8,149

-2,169

-9,455

4,873

7,673

-3,336

Net increase in cash and cash equivalents

66,003

-4,308

-7,003

14,621

-3,130

-8,873

5,093

7,335

-2,120

4,515

-2,824

-4,912

5,107

5,023

-5,429

1,247

3,428

-4,780

7,586

-1,585

286

-1,553

2,890

-3,827

3,863

775

1,836

3

-1,387

988

1,872

-1,629

457

508

483

-1,674

1,487

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash Paid During Period For [Abstract]
Income taxes

242

398

5,119

4,026

313

226

1,474

4,542

2,941

484

543

7,430

86

533

4,538

3,248

2,265

2,120

1,824

2,560

1,275

1,333

4,685

2,993

242

-291

2,403

1,822

177

1,161

1,314

3,310

576

1,156

4,514

2,752

615

Interest

349

478

510

559

343

652

599

580

526

497

1,512

-495

599

14

258

264

248

268

156

225

235

246

200

312

345

0

115

118

119

101

116

139

283

10

127

95

93

Non-cash investing and financing transactions during the period:
Purchase of business - seller financing portion in noncash investing or financing activities.

300

0

300

4,000

0

0

400

400

150

500

0

750

900

500

0

0

500

450

0

850

500

0

0

400

0

500

0

400

400

0

0

250

100

-

-

-

-

Acquisition of non-controlling interest - seller financing portion in noncash investing or financing activities.

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

0

0

388

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

The amount of payment to settle redeemable non-controlling interest related to financing portion during the period.

-

-

-

-

-

-

-

-

-

-

-

-

-

1

0

0

126

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revaluation of redeemable non-controlling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

202

1,639

-

-

-

-

-

-

-

-

-

-

-

-