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

48,222

57,259

58,917

57,727

51,163

48,842

43,875

38,590

31,744

27,724

25,528

25,068

26,349

26,268

26,023

26,863

27,149

26,489

22,377

22,821

24,284

25,314

28,915

23,756

21,710

20,996

21,035

25,074

25,014

26,217

30,566

30,121

30,410

29,783

0

0

0

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

10,302

10,095

9,797

9,847

9,687

9,755

9,776

9,787

9,822

9,710

9,838

9,410

9,044

8,779

8,506

8,436

8,236

7,952

7,714

7,589

7,160

6,740

6,063

5,657

5,597

5,562

5,452

5,371

5,305

5,287

5,357

5,343

5,453

5,449

0

0

0

Provision for doubtful accounts

5,013

4,858

4,909

4,837

4,748

4,603

4,058

4,098

3,835

3,672

3,794

3,781

3,849

4,040

4,013

4,163

4,269

4,170

4,137

4,160

4,152

4,112

4,101

4,106

4,245

4,384

4,587

4,733

4,820

4,848

4,862

5,047

4,271

3,778

0

0

0

Equity-based awards compensation expense

7,143

6,985

6,748

6,560

6,286

5,939

6,075

5,624

5,133

5,032

4,624

4,823

5,021

4,962

4,871

4,769

4,721

4,491

4,275

3,976

3,619

3,363

3,107

2,966

2,839

2,743

2,605

2,429

2,194

2,102

2,130

2,112

2,135

2,032

0

0

0

Loss on sale and disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-18

12

-33

-35

-122

-7,285

-7,340

-7,335

-7,537

-342

-247

-175

87

-24

-68

-182

0

0

0

Excess tax benefit from equity-based rewards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

947

1,238

1,163

1,093

948

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

1,164

4,651

11,592

11,970

8,093

4,813

-8,254

-5,615

-5,776

-4,864

32

-509

906

2,979

6,273

6,400

7,303

5,953

4,136

4,740

3,999

5,106

6,800

5,587

4,168

2,369

660

1,896

1,909

3,738

4,936

3,929

5,078

3,833

0

0

0

Write-off of goodwill - closed clinics

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

213

96

159

94

125

167

0

0

0

-

-

-

-

-

-

-

-

264

0

0

0

-

-

-

-

-

-

0

0

-

-

-

-

437

0

0

0

Write-off of goodwill - closed clinic

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

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

-1,731

6,376

10,513

6,249

5,550

3,434

2,625

1,582

4,687

3,447

2,641

4,832

2,632

3,275

3,919

5,088

5,519

5,519

4,584

3,826

4,571

5,388

7,023

7,289

4,962

5,389

3,683

2,592

2,913

1,663

2,634

3,032

3,552

5,147

0

0

0

Increase in accounts receivable - other

3,756

2,499

-1,861

621

733

1,087

2,240

2,550

174

3,022

5,252

3,859

4,140

400

591

964

934

852

-258

-586

-320

-341

26

89

-67

5

120

157

61

561

195

278

1,007

990

0

0

0

Increase (Decrease) in other assets

-1,862

1,878

2,632

2,274

-689

-345

-3,106

-4,288

-91

-2,086

-2,793

1,298

-1,640

1,399

4,869

3,805

3,763

1,375

-1,473

398

-526

-1,155

1,148

524

-443

-1,803

-92

-2,981

-1,472

585

-526

420

2,289

1,972

0

0

0

Increase in accounts payable and accrued expenses

-2,456

-4,209

-5,306

-4,749

-2,239

4,876

8,595

6,781

9,053

6,979

7,538

1,434

4,452

2,994

337

3,550

2,822

-7,011

-159

-1,316

1,133

1,868

3,993

3,377

2,052

4,833

470

1,035

928

-340

975

1,045

-3,223

1,190

0

0

0

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

-

-

-

-

-

-

-

-

-

11,579

7,295

7,971

5,931

5,598

7,198

6,447

4,681

2,509

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in other liabilities

-518

-1,020

-2,399

3

614

32

2,158

-293

-465

456

-868

-18

63

352

2,522

916

1,096

1,396

-3,605

-2,855

-2,897

-3,378

802

1,244

987

859

1,646

1,370

1,450

1,382

-482

-659

-495

-275

0

0

0

Net cash provided by operating activities

65,265

62,448

65,464

71,005

71,037

73,005

69,700

64,956

57,886

56,526

52,885

42,188

50,687

51,050

50,345

51,336

49,579

37,520

38,736

37,574

40,176

41,391

44,762

45,133

43,632

44,795

38,758

40,998

38,931

39,249

41,412

38,781

32,131

32,655

0

0

0

INVESTING ACTIVITIES
Purchase of fixed assets

10,446

10,189

9,314

8,799

8,286

7,193

6,826

7,120

6,912

7,095

8,216

8,052

8,109

8,260

7,193

6,843

6,582

6,263

5,945

5,908

5,737

5,167

5,091

4,375

4,216

4,637

4,744

4,685

4,608

4,234

3,742

3,681

3,258

3,222

0

0

0

Cash paid, net of cash acquired

42,230

30,597

0

0

0

-

-

-

-

36,682

44,405

44,330

26,394

23,623

17,489

17,456

25,419

18,965

14,464

15,987

18,590

12,270

48,740

47,380

42,538

46,628

10,655

10,747

11,054

7,929

0

0

0

-

-

-

-

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

8,450

8,651

5,699

2,053

1,292

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of non-controlling interest, permanent equity

289

428

216

243

243

350

272

245

246

0

6

420

282

670

690

250

997

968

0

0

0

-

-

5,757

3,753

1,876

2,598

2,582

2,635

2,244

2,818

5,280

20,989

20,439

0

0

0

Proceeds on sale of fixed assets

321

64

63

65

60

1

16

20

19

81

86

81

81

61

42

41

105

71

75

81

39

47

54

482

461

459

0

0

0

-

-

30

9

6

0

0

0

Net cash used in investing activities

-49,286

-37,993

-33,994

-36,518

-26,128

-23,909

-26,206

-19,359

-28,791

-43,575

-52,541

-52,721

-34,704

-32,492

-25,330

-24,508

-32,893

-26,125

-16,505

-18,064

-22,041

-17,617

-58,750

-56,797

-49,813

-52,449

-17,543

-17,724

-17,986

-14,104

-13,466

-24,062

-33,279

-31,606

0

0

0

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

16,000

16,235

16,038

16,845

16,014

15,646

12,344

9,642

6,843

5,572

4,975

5,490

5,542

5,718

6,185

5,881

5,960

5,892

3,044

3,885

5,595

5,963

9,643

9,736

8,983

9,164

9,070

8,991

9,007

9,332

9,335

9,921

9,697

9,767

0

0

0

Cash dividends paid to shareholders

-

-

-

-

-

-

-

-

-

-

-

-

-

8,510

0

0

0

-

-

-

-

-

-

-

-

4,838

9,462

9,318

9,166

9,017

4,129

4,016

3,904

3,789

0

0

0

Proceeds from revolving line of credit

214,000

145,000

134,000

128,000

103,000

103,000

109,000

99,000

80,000

93,000

103,000

124,000

151,000

168,000

156,000

145,000

118,000

103,000

97,000

108,300

139,300

134,300

174,650

165,250

149,200

150,800

112,450

110,050

102,100

79,900

80,800

109,000

123,300

118,900

0

0

0

Payments on revolving line of credit

129,000

137,000

137,000

122,000

116,000

119,000

111,000

112,000

96,000

85,000

83,000

97,500

145,500

166,000

166,000

143,500

107,000

93,500

97,500

112,300

143,300

139,800

142,300

136,000

124,100

128,200

114,400

114,300

105,900

86,000

91,100

104,800

103,900

100,900

0

0

0

Payments to settle mandatorily redeemable non-controlling interests

-

-

-

-

-

265

396

396

396

2,361

2,356

2,356

2,356

1,262

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on notes payable

1,065

1,433

3,159

3,203

3,703

4,044

2,745

2,348

1,348

1,227

984

1,044

1,252

800

860

809

934

884

866

858

775

825

575

800

659

459

0

0

0

-

-

-

-

250

0

0

0

Tax benefit from equity-based rewards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

947

1,238

1,163

1,093

948

944

877

788

695

1,247

1,200

1,326

1,351

0

0

0

-

-

-

-

Excess tax benefit from stock options exercised

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Other

-46

-52

-17

-1

-103

-42

79

73

217

161

40

40

0

1

0

0

0

-

-

-

-

45

222

72

43

47

69

45

30

75

0

0

0

-

0

0

0

Net cash provided by (used in) financing activities

53,334

-24,275

-35,855

-26,776

-44,484

-47,661

-28,671

-38,691

-34,436

-11,065

2,050

10,322

-10,035

-14,289

-30,549

-19,347

-12,037

-9,888

-17,497

-19,472

-20,339

-22,401

17,689

14,311

12,658

8,881

-19,775

-21,798

-21,101

-23,457

-26,738

-14,900

922

-245

0

0

0

Net increase in cash and cash equivalents

69,313

180

-4,385

7,711

425

1,435

14,823

6,906

-5,341

1,886

2,394

-211

5,948

4,269

-5,534

7,481

4,649

1,507

4,734

38

-2,204

1,373

3,701

2,647

6,477

1,227

1,440

1,476

-156

1,688

1,208

-181

-226

804

0

0

0

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

9,785

9,856

9,684

6,039

6,555

9,183

9,441

8,510

11,398

8,543

8,592

12,587

8,405

10,584

12,171

9,457

8,769

7,779

6,992

9,853

10,286

9,253

7,629

5,347

4,176

4,111

5,563

4,474

5,962

6,361

6,356

9,556

8,998

9,037

0

0

0

Interest

1,896

1,890

2,064

2,153

2,174

2,357

2,202

3,115

2,040

2,113

1,630

376

1,135

784

1,038

936

897

884

862

906

993

1,103

857

772

578

352

453

454

475

639

548

559

515

325

0

0

0

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

4,600

4,300

4,300

4,400

800

950

1,450

1,050

1,400

2,150

2,150

2,150

1,400

1,000

950

950

1,800

1,800

1,350

1,350

900

400

900

900

900

1,300

800

800

650

350

0

0

0

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

387

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

127

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revaluation of redeemable non-controlling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-