WELLCARE HEALTH PLANS, INC. WCG Cash Flow

Wellcare health plans, inc. (WCG)

CashFlow / TTM

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
631,100	520,700	489,500	439,800	444,600	485,600	408,100	373,700	357,900	254,900	271,600	242,100	210,200	178,000	138,900	118,600	113,400	96,300	37,100	63,700	98,800	143,500	197,900	175,300	181,139	155,426	154,968	184,700	220,976	270,944	294,102	264,200	205,322	159,983	-38,488	-53,400	0	0	0
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization
260,200	246,500	212,900	179,700	152,900	138,100	132,900	120,400	107,300	98,300	90,700	87,600	84,400	80,200	76,600	72,600	69,000	65,200	62,100	59,900	56,300	52,900	48,600	44,100	40,696	37,889	34,730	31,600	29,280	27,541	26,895	26,400	26,000	25,669	24,665	23,946	0	0	0
Bargain purchase gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	29,500	31,600	39,400	28,300	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred ACA fee amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
78,200	82,500	81,500	70,800	78,500	66,400	62,300	59,800	44,100	44,000	38,600	35,500	30,900	26,500	22,600	20,200	20,000	18,200	18,600	15,700	9,300	11,700	10,000	12,500	13,766	12,359	12,219	14,900	19,874	19,166	21,032	19,500	19,306	22,197	18,508	14,801	0	0	0
Incremental tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	900	1,300	1,700	3,600	3,134	3,772	3,369	3,800	3,948	4,291	5,331	2,800	0	0	0	-	-	-	-
Deferred taxes, net
-14,100	37,000	27,200	1,100	-17,900	-49,500	-40,800	-47,100	-2,100	-27,900	-29,600	11,600	-20,000	16,000	46,300	44,600	33,900	30,000	1,000	-6,800	5,000	-100	11,800	15,500	12,604	43,198	42,045	18,800	86,464	60,914	62,974	98,200	33,214	26,997	-56,344	-61,204	0	0	0
Provision for doubtful receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,000	14,600	15,200	15,200	14,800	12,900	11,300	10,600	13,328	13,702	15,986	16,600	13,062	13,958	11,944	11,100	0	0	0	-	-	-	-
Other, net
21,000	35,000	28,000	23,000	17,900	18,600	19,000	18,200	17,700	15,200	16,000	16,800	45,000	36,400	31,200	26,100	28,000	22,500	24,200	23,500	1,100	11,600	11,100	11,800	254	-1,978	578	-2,000	-6,094	-3,900	-4,847	-1,400	17,660	20,806	18,726	10,332	0	0	0
Changes in operating accounts, net of effects from acquisitions:
Premiums receivable, net
488,100	220,100	560,500	399,900	66,100	-366,000	-69,300	-136,400	13,400	-42,200	-120,500	-95,200	-227,800	65,100	24,500	8,500	93,700	21,900	143,200	46,200	66,200	306,300	96,800	77,300	28,568	-49,242	-14,900	180,300	177,092	405,272	240,444	96,800	-29,594	-40,003	-116,749	-158,124	0	0	0
Pharmacy rebates receivable, net
-59,900	-6,600	148,500	104,700	130,100	91,500	95,300	44,100	38,500	-10,600	-124,500	25,500	-30,300	24,200	-11,200	-106,400	-900	23,800	175,800	161,200	146,100	132,000	80,000	38,700	18,654	-11,291	13,245	12,400	0	0	0	-	-	-	-	-	-	-	-
Prepaid expenses and other current assets, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Medical benefits payable
456,200	340,100	468,000	216,800	296,600	341,000	294,600	328,300	286,500	220,900	205,200	117,200	163,100	222,700	107,500	68,600	11,600	45,100	343,100	423,400	395,200	369,200	122,900	148,800	195,434	138,625	60,230	-38,600	-85,946	-69,606	-67,664	1,800	53,438	63,522	83,799	-59,525	0	0	0
Unearned premiums
27,900	-576,900	-605,600	-94,100	-585,200	40,400	159,100	63,900	175,300	535,000	422,200	-26,600	384,800	-500	9,300	-55,600	14,300	-4,400	1,000	82,400	300	7,800	-400	100	23	-240,540	-206,968	0	-275,597	174,529	122,619	-67,200	209,765	66,080	84,389	-23,113	0	0	0
Accounts payable and other accrued expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-28,205	-9,812	5,623	14,900	5,072	35,957	20,952	14,000	41,420	2,410	-24,257	752	0	0	0
Other receivables/payables to government partners
-211,900	-172,000	177,100	129,100	36,200	81,000	4,200	8,000	-25,000	9,100	36,700	69,800	261,000	231,200	247,900	241,700	104,200	76,400	8,600	-106,000	-126,200	-162,200	-128,500	-51,000	-55,172	-33,393	-24,839	-12,100	41,705	45,658	36,565	51,600	34,225	17,188	9,485	8,458	0	0	0
Prepaid and other current assets
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	33,438	40,073	27,065	29,000	23,412	35,336	32,412	37,300	0	0	0	-	-	-	-
Amount payable related to investigation resolution
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35,200	34,900	34,600	34,400	35,100	34,900	34,700	57,300	35,200	34,896	34,582	21,165	45,800	39,655	74,922	61,766	73,800	-425,373	-456,532	-206,249	-256,207	0	0	0
Accrued liabilities and other, net
123,400	-266,300	-262,800	-182,600	-34,600	143,700	101,700	6,400	-22,400	-85,000	-74,800	124,600	149,500	33,100	36,600	113,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes receivable/payable, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	69,889	12,746	-51,363	7,800	-66,084	-28,686	47,875	-12,800	8,267	8,861	-14,745	-21,134	0	0	0
Net cash provided by operating activities
988,600	8,900	-196,700	279,000	2,500	1,491,700	1,133,800	1,050,000	913,500	1,143,400	1,221,600	748,300	1,555,000	727,100	701,100	712,600	357,800	471,200	213,300	299,300	128,600	-19,100	133,900	178,900	333,394	114,284	-7,891	-30,700	-291,407	-290	214,233	162,000	614,054	436,377	349,659	223,057	0	0	0
Cash flows from investing activities:
Purchases of investments
5,459,900	3,836,300	2,423,800	1,832,700	1,655,900	1,352,300	1,348,600	1,395,500	880,300	702,600	571,000	156,700	403,500	273,500	151,800	165,700	158,300	173,500	360,500	416,700	467,100	494,300	408,600	462,500	462,986	525,924	498,212	465,600	410,480	337,392	299,783	386,200	434,992	504,096	418,149	219,961	0	0	0
Proceeds from sales and maturities of investments
4,025,700	2,985,600	1,919,200	1,561,100	1,014,400	716,900	657,900	515,700	346,000	350,200	375,600	392,000	456,600	329,100	211,300	195,700	143,500	192,200	290,100	367,900	437,700	437,300	377,800	408,100	397,837	492,003	500,913	436,800	411,705	293,480	266,544	277,500	258,025	299,007	236,714	163,993	0	0	0
Acquisitions and acquisition-related settlements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-48,000	16,600	-3,600	-29,300	174,100	167,100	167,100	165,800	126,600	0	0	0	-	-	-	-	-	-	-	-
Purchases of restricted investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	47,327	42,785	37,978	36,600	39,655	70,404	42,334	34,800	66,324	12,808	18,097	21,820	0	0	0
Proceeds from maturities of restricted investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	34,079	30,568	31,956	30,500	37,609	41,212	79,343	81,500	89,214	93,591	50,033	44,800	0	0	0
Additions to property, equipment and capitalized software, net
223,700	208,500	167,400	153,500	123,300	126,500	128,800	128,400	136,400	122,100	112,300	105,300	103,900	111,000	118,000	137,000	123,000	110,500	97,400	74,800	59,500	59,000	59,300	62,000	62,535	57,608	61,769	61,300	66,492	67,006	56,316	49,600	42,097	37,830	31,996	27,516	0	0	0
Net cash used in investing activities
-1,773,700	-3,210,700	-2,814,900	-2,568,000	-2,800,300	-772,300	-1,547,800	-1,736,500	-1,444,300	-1,240,200	-376,600	61,100	-74,600	-76,500	-75,700	-124,200	-224,000	-198,200	-278,000	-75,600	-92,200	-100,700	-66,800	-290,500	-308,032	-270,846	-230,890	-222,800	-67,313	-108,532	-44,522	-111,600	-159,402	-180,160	-188,941	-60,504	0	0	0
Cash flows from financing activities:
Payments on debt
-	-	-	-	-	-	-	1,026,100	1,026,100	1,126,100	200,000	400,000	400,000	300,000	300,000	0	0	0	0	-	-	-	-	365,000	32,300	26,550	18,925	11,300	9,425	7,550	5,675	3,800	940	-138	-58	0	0	0	0
Proceeds from issuance of debt, net of financing costs paid
-	-	-	-	-	-	-	1,182,200	1,182,200	1,182,200	1,182,200	196,900	196,900	196,900	505,800	308,900	0	0	0	-	-	-	-	816,400	228,485	227,900	227,900	-600	0	0	0	-	-	-	-	-	-	-	-
Proceeds from exercises of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,900	5,500	6,500	10,300	8,773	5,919	4,920	9,400	10,903	10,272	13,746	6,300	4,976	4,963	1,707	1,443	0	0	0
Incremental tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	900	1,300	1,700	3,600	3,134	3,772	3,369	3,800	3,948	4,291	5,331	2,800	0	0	0	-	-	-	-
Repurchase and retirement of shares to satisfy employee tax withholding requirements
39,700	40,300	40,000	23,400	24,900	21,900	22,000	15,200	13,700	15,000	14,900	7,000	6,900	6,700	7,300	7,000	7,700	6,600	6,100	3,100	2,400	3,700	3,600	4,100	4,256	5,281	5,242	6,500	6,506	6,945	8,402	3,700	14,195	10,302	8,523	6,237	0	0	0
Payments on capital leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,700	1,600	1,700	1,600	1,662	1,985	1,908	2,200	2,232	2,438	2,896	2,700	0	0	0	-	-	-	-
Funds received for the benefit of members, net
-745,500	-981,500	-766,100	-520,600	-55,600	328,700	520,400	671,600	1,347,400	1,547,200	1,402,400	1,031,100	1,191,600	646,500	394,000	201,100	0	0	0	-	-	-57,300	149,500	34,000	-100,722	-222,161	-282,410	-36,300	112,765	218,793	252,004	129,600	96,137	19,184	48,456	44,669	0	0	0
Other, net
-8,900	2,200	-11,100	9,000	31,800	39,600	55,300	15,700	32,300	6,200	-6,200	12,100	-6,700	-2,700	2,000	2,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by financing activities
-894,100	1,208,000	1,460,400	1,742,600	2,228,900	346,400	-372,400	828,200	1,522,100	1,594,500	2,363,500	833,100	974,900	534,000	593,300	505,100	-261,200	-47,700	-420,700	-392,700	123,500	38,900	213,000	493,600	302,896	201,414	172,104	28,900	-366,723	3,023	42,196	-84,900	242,066	19,514	44,863	38,864	0	0	0
(Decrease) increase in cash, cash equivalents and restricted cash and cash equivalents
-1,679,200	-1,993,800	-1,551,200	-546,400	-568,900	1,065,800	-786,400	141,700	991,300	1,497,700	3,208,500	1,642,500	2,455,300	1,184,600	1,218,700	1,093,500	-127,400	225,300	-485,400	-169,000	159,900	-80,900	280,100	382,000	328,258	44,852	-66,677	-224,600	-725,443	-105,799	211,907	-34,500	696,718	275,731	205,581	201,417	0	0	0
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for taxes, net of refunds
148,100	222,700	226,000	221,300	192,300	159,200	105,300	167,200	218,700	247,600	284,700	222,300	209,500	217,600	198,700	217,900	194,200	121,700	118,300	100,900	126,400	126,100	82,700	80,500	23,290	31,202	101,938	101,000	123,701	139,388	69,516	69,800	86,385	68,947	68,247	75,962	0	0	0
Cash paid for interest
115,200	93,500	90,700	68,200	66,200	67,300	87,800	57,000	83,000	51,100	57,000	57,300	58,500	59,200	50,800	51,900	42,800	40,500	39,400	36,900	19,100	21,600	5,800	6,300	6,193	4,165	3,224	3,600	7,910	7,662	6,902	5,900	742	401	295	228	0	0	0
SUPPLEMENTAL DISCLOSURES OF NON-CASH TRANSACTIONS:
Non-cash additions to property, equipment, and capitalized software
14,100	14,400	16,600	13,800	-4,100	4,900	3,200	3,500	11,600	5,100	2,000	6,200	-3,400	-500	11,200	6,100	24,800	21,600	12,000	11,700	2,800	2,900	1,100	2,900	3,802	3,600	6,556	3,300	2,502	2,379	2,332	2,500	0	0	0	-	-	-	-
Equipment acquired through capital leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,868	0	0	0