WELLCARE HEALTH PLANS, INC. WCG Cash Flow

Wellcare health plans, inc. (WCG)

CashFlow / Yearly

Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Cash flows from operating activities:
Net income
439,800	373,700	242,100	118,600	63,700	175,300	184,700	264,200	-53,400	39,871	-36,833
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization
179,700	120,400	87,600	72,600	59,900	44,100	31,600	26,400	23,946	23,336	21,324
Gain on divestiture of business
-	-	-	-	-	0	-	-	-	-	-
Bargain purchase gain
-	-	-	-	29,500	0	0	-	-	-	-
Asset impairment and other charges
-	-	-	-	-	-	0	-	-	-	-
Loss on extinguishment of debt
0	-26,100	0	0	-	-	0	10,800	0	0	-
Goodwill impairment
-	-	-	-	-	-	-	-	-	-	78,339
Stock-based compensation expense
70,800	59,800	35,500	20,200	15,700	12,500	14,900	19,500	14,801	44,149	38,614
Loss on disposal of fixed assets and asset impairment charges
-	-	-	-	-	-	-	0	-	-	-
Incremental tax benefit from stock-based compensation
-	-	-	-	-	3,600	3,800	2,800	0	0	-3,686
Deferred taxes, net
1,100	-47,100	11,600	44,600	-6,800	15,500	18,800	98,200	-61,204	10,443	-46,350
Provision for doubtful receivables
-	-	-	-	15,200	10,600	16,600	11,100	-6,889	1,945	27,313
Other, net
23,000	18,200	16,800	26,100	23,500	11,800	-2,000	-1,400	10,332	14,821	-41,405
Changes in operating accounts, net of effects from acquisitions:
Premiums receivable, net
399,900	-136,400	-95,200	8,500	46,200	77,300	180,300	96,800	-158,124	74,014	70,513
Pharmacy rebates receivable, net
104,700	44,100	25,500	-106,400	161,200	38,700	12,400	24,700	551	-	-
Prepaid expenses and other current assets, net
-	-	-	-	-	-	-	-	-	-	-4,780
Medical benefits payable
216,800	328,300	117,200	68,600	423,400	148,800	-38,600	1,800	-59,525	36,336	228,033
Unearned premiums
-94,100	63,900	-26,600	-55,600	82,400	100	0	-67,200	-23,113	9,299	-61,359
Accounts payable and other accrued expenses
-	-	-	-	-	-	14,900	14,000	752	-69,440	-38,617
Other receivables/payables to government partners
129,100	8,000	69,800	241,700	-106,000	-51,000	-12,100	51,600	8,458	30,047	-110,913
Prepaid and other current assets
-	-	-	-	-	-	29,000	37,300	3,083	-28,022	-16,663
Amount payable related to investigation resolution
-	-	-	35,200	35,100	35,200	45,800	73,800	-256,207	-	50,000
Accrued liabilities and other, net
-182,600	6,400	124,600	113,100	300	-34,000	-	-	-	-	-
Income taxes receivable/payable, net
-	-	-	-	-	-	7,800	-12,800	-21,134	-15,645	20,179
Net cash provided by operating activities
279,000	1,050,000	748,300	712,600	299,300	178,900	-30,700	162,000	223,057	57,925	296,427
Cash flows from investing activities:
Cash advanced for acquisitions
-	-	-	-	-	-	0	0	-	-	-
Purchases of investments
1,832,700	1,395,500	156,700	165,700	416,700	462,500	465,600	386,200	219,961	16,115	135,607
Proceeds from sales and maturities of investments
1,561,100	515,700	392,000	195,700	367,900	408,100	436,800	277,500	163,993	27,466	260,413
Acquisitions and acquisition-related settlements
2,142,900	728,300	68,900	17,200	-48,000	174,100	126,600	0	0	-	-
Purchases of restricted investments
-	-	-	-	-	-	36,600	34,800	21,820	-65,299	-120,116
Proceeds from maturities of restricted investments
-	-	-	-	-	-	30,500	81,500	44,800	133,665	10,274
Additions to property, equipment and capitalized software, net
153,500	128,400	105,300	137,000	74,800	62,000	61,300	49,600	27,516	16,078	19,559
Funds receivable for the benefit of members
-	-	-	-	-	-	-	-	-	-	-86,542
Net cash used in investing activities
-2,568,000	-1,736,500	61,100	-124,200	-75,600	-290,500	-222,800	-111,600	-60,504	63,639	-91,137
Cash flows from financing activities:
Borrowings on Revolving Credit Facility, net of financing costs paid
221,300	0	0	-	-	-	-	-	-	-	-
Payments on debt
25,000	1,026,100	400,000	0	0	365,000	11,300	3,800	0	152,800	2,000
Proceeds from Issuance of Common Stock
1,342,300	0	0	-	-	-	-	-	-	-	-
Proceeds from issuance of debt, net of financing costs paid
739,000	1,182,200	196,900	308,900	298,600	816,400	-600	147,500	0	0	-
Proceeds from exercises of stock options
-	-	-	-	-	10,300	9,400	6,300	1,443	1,167	1,039
Incremental tax benefit from stock-based compensation
-	-	-	-	-	3,600	3,800	2,800	0	0	3,686
Repurchase and retirement of shares to satisfy employee tax withholding requirements
23,400	15,200	7,000	7,000	3,100	4,100	6,500	3,700	6,237	-2,413	-2,720
Repurchase of subordinated notes
-	-	-	-	-	-	-	101,700	0	0	-
Payments on capital leases
-	-	-	-	-	1,600	2,200	2,700	1,011	0	0
Funds received for the benefit of members, net
-520,600	671,600	1,031,100	201,100	-687,900	34,000	-36,300	129,600	44,669	8,691	-31,782
Other, net
9,000	15,700	12,100	2,100	-300	-	-	-	-	-	-
Net cash (used in) provided by financing activities
1,742,600	828,200	833,100	505,100	-392,700	493,600	28,900	-84,900	38,864	-145,355	-31,777
(Decrease) increase in cash, cash equivalents and restricted cash and cash equivalents
-546,400	141,700	1,642,500	1,093,500	-169,000	382,000	-224,600	-34,500	201,417	-23,791	173,513
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for taxes, net of refunds
221,300	167,200	222,300	217,900	100,900	80,500	101,000	69,800	75,962	80,621	53,911
Cash paid for interest
68,200	57,000	57,300	51,900	36,900	6,300	3,600	5,900	228	2,642	10,150
SUPPLEMENTAL DISCLOSURES OF NON-CASH TRANSACTIONS:
Non-cash issuance of subordinated notes
-	-	-	-	-	-	-	112,500	0	0	-
Non-cash additions to property, equipment, and capitalized software
13,800	3,500	6,200	6,100	11,700	2,900	3,300	2,500	2,354	923	2,084
Equipment acquired through capital leases
-	-	-	-	-	-	-	-	8,868	805	0