v3.22.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 22,664 $ 73,988
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,725 8,434
Amortization of debt issuance cost 474 741
Share-based compensation 6,975 2,902
Gain on sale of equity securities (2,272) 0
Unrealized loss (gain) from investment in equity securities 13,659 (83,769)
(Income) loss from equity method investments (2,945) 3,812
Impairment of beneficial interest 0 15,723
Unrealized (gain) loss on interest rate swaps (2,830) 1,195
Deferred tax 2,706 10,283
Other 0 189
Changes in operating assets and liabilities, net of business combinations:    
Receivables, net (56,202) (9,975)
Receivables, net – related parties (12,151) (19,508)
Other receivables (3,580) (266)
Prepaid expenses and other current assets 4,109 4,613
Right-of-use assets 2,290 1,646
Other assets 1,790 (426)
Accounts payable and accrued expenses 14,181 16,984
Fiduciary accounts payable (4,464) (550)
Medical liabilities 55,106 8,977
Income taxes payable (13,292) (2,009)
Operating lease liabilities (2,254) (1,698)
Other long-term liabilities 370 0
Net cash provided by operating activities 33,059 31,286
Cash flows from investing activities    
Payments for business acquisition, net of cash acquired (858) (117)
Proceeds from repayment of loans receivable – related parties 4,030 31
Prepayment for investment purchase 0 (4,450)
Purchase of marketable securities (1,750) (670)
Purchase of investment – equity method 0 (1,660)
Purchases of property and equipment (18,845) (7,364)
Cash received from consolidation of VIE 0 3,322
Proceeds from sale of marketable securities 6,480 1,106
Distribution from investment - equity method 400 0
Contribution to investment - equity method (1,685) 0
Net cash used in investing activities (12,228) (9,802)
Cash flows from financing activities    
Dividends paid (12,556) (21,110)
Repayment of long-term debt (200) (238,208)
Payment of finance lease obligations (283) (54)
Proceeds from the exercise of stock options and warrants 1,738 4,816
Repurchase of shares (9,480) (2,981)
Proceeds from sale of non-controlling interest 38 38
Purchase of non-controlling interest (199) (75)
Borrowings on loans 1,237 180,000
Proceeds from sale of shares 0 40,134
Payment of debt issuance costs 0 (727)
Net cash used in financing activities (19,705) (38,167)
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,126 (16,683)
Cash, cash equivalents, and restricted cash, beginning of period 233,097 193,970
Cash, cash equivalents, and restricted cash, end of period 234,223 177,287
Supplementary disclosures of cash flow information    
Cash paid for income taxes 22,311 23,324
Cash paid for interest 2,231 2,507
Supplemental disclosures of non-cash investing and financing activities    
Dividend declared included in dividend payable 0 50
Fixed asset obtained in exchange for finance lease liabilities 398 0
Common stock issued in business combination 1,000 0
Cancellation of restricted stock awards 0 144
Mortgage loan 16,275 0
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 234,223  
Cash, cash equivalents, restricted cash total $ 234,223 $ 177,287

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