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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF THE COMPANY AND SUBSIDIARIES (Tables) | 9 Months Ended
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Sep. 30, 2014
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET As of September 30, 2014 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 10,334 |  |  | $ | 38,513 |  |  | $ | — |  |  | $ | 48,847 |
Accounts receivable, net of allowance |  |  | 184,445 |  |  |  | 240,877 |  |  |  | (132,856 | ) |  |  | 292,466 |
Current deferred tax assets |  |  | — |  |  |  | 11,443 |  |  |  | (13 | ) |  |  | 11,430 |
Prepaid expenses and other current assets |  |  | 74,107 |  |  |  | 31,423 |  |  |  | (78,605 | ) |  |  | 26,925 |
Assets held for sale |  |  | 4,145 |  |  |  | — |  |  |  | — |  |  |  | 4,145 |
Total current assets |  |  | 273,031 |  |  |  | 322,256 |  |  |  | (211,474 | ) |  |  | 383,813 |
Property and equipment, net |  |  | 2,458,764 |  |  |  | 155,500 |  |  |  | — |  |  |  | 2,614,264 |
Restricted cash |  |  | 1,116 |  |  |  | 1,591 |  |  |  | — |  |  |  | 2,707 |
Investment in direct financing lease |  |  | 3,811 |  |  |  | — |  |  |  | — |  |  |  | 3,811 |
Goodwill |  |  | — |  |  |  | 16,110 |  |  |  | — |  |  |  | 16,110 |
Non-current deferred tax assets |  |  | — |  |  |  | 5,055 |  |  |  | (518 | ) |  |  | 4,537 |
Other assets |  |  | 261,040 |  |  |  | 47,451 |  |  |  | (232,583 | ) |  |  | 75,908 |
Total assets |  | $ | 2,997,762 |  |  | $ | 547,963 |  |  | $ | (444,575 | ) |  | $ | 3,101,150 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 253,266 |  |  | $ | 135,422 |  |  | $ | (140,926 | ) |  | $ | 247,762 |
Income taxes payable |  |  | 84 |  |  |  | 805 |  |  |  | — |  |  |  | 889 |
Current deferred tax liabilities |  |  | 13 |  |  |  | — |  |  |  | (13 | ) |  |  | — |
Note payable to an affiliate |  |  | — |  |  |  | 70,500 |  |  |  | (70,500 | ) |  |  | — |
Current liabilities of discontinued operations |  |  | — |  |  |  | 53 |  |  |  | — |  |  |  | 53 |
Total current liabilities |  |  | 253,363 |  |  |  | 206,780 |  |  |  | (211,439 | ) |  |  | 248,704 |
Long-term debt |  |  | 1,240,000 |  |  |  | 115,000 |  |  |  | (115,000 | ) |  |  | 1,240,000 |
Non-current deferred tax liabilities |  |  | 518 |  |  |  | — |  |  |  | (518 | ) |  |  | — |
Other liabilities |  |  | 1,588 |  |  |  | 108,565 |  |  |  | — |  |  |  | 110,153 |
Total liabilities |  |  | 1,495,469 |  |  |  | 430,345 |  |  |  | (326,957 | ) |  |  | 1,598,857 |
Total stockholders’ equity |  |  | 1,502,293 |  |  |  | 117,618 |  |  |  | (117,618 | ) |  |  | 1,502,293 |
Total liabilities and stockholders’ equity |  | $ | 2,997,762 |  |  | $ | 547,963 |  |  | $ | (444,575 | ) |  | $ | 3,101,150 |
CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2013 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 31,647 |  |  | $ | 46,262 |  |  | $ | — |  |  | $ | 77,909 |
Accounts receivable, net of allowance |  |  | 203,018 |  |  |  | 178,894 |  |  |  | (136,955 | ) |  |  | 244,957 |
Current deferred tax assets |  |  | 2 |  |  |  | 9,239 |  |  |  | — |  |  |  | 9,241 |
Prepaid expenses and other current assets |  |  | 7,580 |  |  |  | 22,856 |  |  |  | (9,824 | ) |  |  | 20,612 |
Current assets of discontinued operations |  |  | — |  |  |  | 15 |  |  |  | — |  |  |  | 15 |
Total current assets |  |  | 242,247 |  |  |  | 257,266 |  |  |  | (146,779 | ) |  |  | 352,734 |
Property and equipment, net |  |  | 2,450,028 |  |  |  | 96,585 |  |  |  | — |  |  |  | 2,546,613 |
Restricted cash |  |  | 1,016 |  |  |  | 4,573 |  |  |  | — |  |  |  | 5,589 |
Investment in direct financing lease |  |  | 5,473 |  |  |  | — |  |  |  | — |  |  |  | 5,473 |
Goodwill |  |  | — |  |  |  | 16,110 |  |  |  | — |  |  |  | 16,110 |
Non-current deferred tax assets |  |  | — |  |  |  | 3,633 |  |  |  | (555 | ) |  |  | 3,078 |
Other assets |  |  | 245,028 |  |  |  | 45,149 |  |  |  | (212,349 | ) |  |  | 77,828 |
Total assets |  | $ | 2,943,792 |  |  | $ | 423,316 |  |  | $ | (359,683 | ) |  | $ | 3,007,425 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 234,277 |  |  | $ | 164,745 |  |  | $ | (146,745 | ) |  | $ | 252,277 |
Income taxes payable |  |  | — |  |  |  | 1,243 |  |  |  | — |  |  |  | 1,243 |
Current liabilities of discontinued operations |  |  | — |  |  |  | 886 |  |  |  | — |  |  |  | 886 |
Total current liabilities |  |  | 234,277 |  |  |  | 166,874 |  |  |  | (146,745 | ) |  |  | 254,406 |
Long-term debt |  |  | 1,205,000 |  |  |  | 115,000 |  |  |  | (115,000 | ) |  |  | 1,205,000 |
Deferred tax liabilities |  |  | 555 |  |  |  | — |  |  |  | (555 | ) |  |  | — |
Other liabilities |  |  | 1,453 |  |  |  | 44,059 |  |  |  | — |  |  |  | 45,512 |
Total liabilities |  |  | 1,441,285 |  |  |  | 325,933 |  |  |  | (262,300 | ) |  |  | 1,504,918 |
Total stockholders’ equity |  |  | 1,502,507 |  |  |  | 97,383 |  |  |  | (97,383 | ) |  |  | 1,502,507 |
Total liabilities and stockholders’ equity |  | $ | 2,943,792 |  |  | $ | 423,316 |  |  | $ | (359,683 | ) |  | $ | 3,007,425 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended September 30, 2014 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 319,127 |  |  | $ | 310,597 |  |  | $ | (221,250 | ) |  | $ | 408,474 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 226,820 |  |  |  | 277,142 |  |  |  | (221,250 | ) |  |  | 282,712 |
General and administrative |  |  | 8,719 |  |  |  | 18,916 |  |  |  | — |  |  |  | 27,635 |
Depreciation and amortization |  |  | 20,389 |  |  |  | 7,888 |  |  |  | — |  |  |  | 28,277 |
|  |  | 255,928 |  |  |  | 303,946 |  |  |  | (221,250 | ) |  |  | 338,624 |
OPERATING INCOME |  |  | 63,199 |  |  |  | 6,651 |  |  |  | — |  |  |  | 69,850 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 8,821 |  |  |  | 1,555 |  |  |  | — |  |  |  | 10,376 |
Other (income) expense |  |  | 250 |  |  |  | (61 | ) |  |  | (332 | ) |  |  | (143 | )
|  |  | 9,071 |  |  |  | 1,494 |  |  |  | (332 | ) |  |  | 10,233 |
INCOME FROM CONTINUING |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OPERATIONS BEFORE INCOME TAXES |  |  | 54,128 |  |  |  | 5,157 |  |  |  | 332 |  |  |  | 59,617 |
Income tax expense |  |  | (208 | ) |  |  | (1,863 | ) |  |  | — |  |  |  | (2,071 | )
INCOME FROM CONTINUING OPERATIONS |  |  | 53,920 |  |  |  | 3,294 |  |  |  | 332 |  |  |  | 57,546 |
Income from equity in subsidiaries |  |  | 3,626 |  |  |  | — |  |  |  | (3,626 | ) |  |  | — |
NET INCOME |  | $ | 57,546 |  |  | $ | 3,294 |  |  | $ | (3,294 | ) |  | $ | 57,546 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended September 30, 2013 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 312,837 |  |  | $ | 337,548 |  |  | $ | (228,919 | ) |  | $ | 421,466 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 232,380 |  |  |  | 298,028 |  |  |  | (228,919 | ) |  |  | 301,489 |
General and administrative |  |  | 6,954 |  |  |  | 16,616 |  |  |  | — |  |  |  | 23,570 |
Depreciation and amortization |  |  | 19,268 |  |  |  | 8,883 |  |  |  | — |  |  |  | 28,151 |
Asset impairments |  |  | — |  |  |  | 985 |  |  |  | — |  |  |  | 985 |
|  |  | 258,602 |  |  |  | 324,512 |  |  |  | (228,919 | ) |  |  | 354,195 |
OPERATING INCOME |  |  | 54,235 |  |  |  | 13,036 |  |  |  | — |  |  |  | 67,271 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 8,877 |  |  |  | 1,501 |  |  |  | — |  |  |  | 10,378 |
Other (income) expense |  |  | (275 | ) |  |  | 111 |  |  |  | (20 | ) |  |  | (184 | )
|  |  | 8,602 |  |  |  | 1,612 |  |  |  | (20 | ) |  |  | 10,194 |
INCOME FROM CONTINUING |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OPERATIONS BEFORE INCOME TAXES |  |  | 45,633 |  |  |  | 11,424 |  |  |  | 20 |  |  |  | 57,077 |
Income tax expense |  |  | (217 | ) |  |  | (4,354 | ) |  |  | — |  |  |  | (4,571 | )
INCOME FROM CONTINUING OPERATIONS |  |  | 45,416 |  |  |  | 7,070 |  |  |  | 20 |  |  |  | 52,506 |
Income from equity in subsidiaries |  |  | 6,427 |  |  |  | — |  |  |  | (6,427 | ) |  |  | — |
Loss from discontinued operations, net of taxes |  |  | — |  |  |  | (663 | ) |  |  | — |  |  |  | (663 | )
NET INCOME |  | $ | 51,843 |  |  | $ | 6,407 |  |  | $ | (6,407 | ) |  | $ | 51,843 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the nine months ended September 30, 2014 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 939,686 |  |  | $ | 936,352 |  |  | $ | (652,648 | ) |  | $ | 1,223,390 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 671,914 |  |  |  | 838,436 |  |  |  | (652,648 | ) |  |  | 857,702 |
General and administrative |  |  | 25,648 |  |  |  | 53,938 |  |  |  | — |  |  |  | 79,586 |
Depreciation and amortization |  |  | 60,266 |  |  |  | 25,147 |  |  |  | — |  |  |  | 85,413 |
Asset impairments |  |  | 2,238 |  |  |  | — |  |  |  | — |  |  |  | 2,238 |
|  |  | 760,066 |  |  |  | 917,521 |  |  |  | (652,648 | ) |  |  | 1,024,939 |
OPERATING INCOME |  |  | 179,620 |  |  |  | 18,831 |  |  |  | — |  |  |  | 198,451 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 26,232 |  |  |  | 2,856 |  |  |  | — |  |  |  | 29,088 |
Other (income) expense |  |  | 87 |  |  |  | (589 | ) |  |  | (641 | ) |  |  | (1,143 | )
|  |  | 26,319 |  |  |  | 2,267 |  |  |  | (641 | ) |  |  | 27,945 |
INCOME FROM CONTINUING |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OPERATIONS BEFORE INCOME TAXES |  |  | 153,301 |  |  |  | 16,564 |  |  |  | 641 |  |  |  | 170,506 |
Income tax expense |  |  | (342 | ) |  |  | (5,148 | ) |  |  | — |  |  |  | (5,490 | )
INCOME FROM CONTINUING OPERATIONS |  |  | 152,959 |  |  |  | 11,416 |  |  |  | 641 |  |  |  | 165,016 |
Income from equity in subsidiaries |  |  | 12,057 |  |  |  | — |  |  |  | (12,057 | ) |  |  | — |
NET INCOME |  | $ | 165,016 |  |  | $ | 11,416 |  |  | $ | (11,416 | ) |  | $ | 165,016 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the nine months ended September 30, 2013 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 945,213 |  |  | $ | 1,007,279 |  |  | $ | (689,298 | ) |  | $ | 1,263,194 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 704,221 |  |  |  | 888,789 |  |  |  | (689,298 | ) |  |  | 903,712 |
General and administrative |  |  | 24,649 |  |  |  | 55,513 |  |  |  | — |  |  |  | 80,162 |
Depreciation and amortization |  |  | 56,855 |  |  |  | 26,348 |  |  |  | — |  |  |  | 83,203 |
Asset impairments |  |  | — |  |  |  | 985 |  |  |  | — |  |  |  | 985 |
|  |  | 785,725 |  |  |  | 971,635 |  |  |  | (689,298 | ) |  |  | 1,068,062 |
OPERATING INCOME |  |  | 159,488 |  |  |  | 35,644 |  |  |  | — |  |  |  | 195,132 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 29,593 |  |  |  | 5,263 |  |  |  | — |  |  |  | 34,856 |
Expenses associated with debt refinancing transactions |  |  | 28,563 |  |  |  | 7,965 |  |  |  | — |  |  |  | 36,528 |
Other (income) expense |  |  | 45 |  |  |  | (107 | ) |  |  | (58 | ) |  |  | (120 | )
|  |  | 58,201 |  |  |  | 13,121 |  |  |  | (58 | ) |  |  | 71,264 |
INCOME FROM CONTINUING |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OPERATIONS BEFORE INCOME TAXES |  |  | 101,287 |  |  |  | 22,523 |  |  |  | 58 |  |  |  | 123,868 |
Income tax benefit (expense) |  |  | 137,981 |  |  |  | (4,728 | ) |  |  | — |  |  |  | 133,253 |
INCOME FROM CONTINUING OPERATIONS |  |  | 239,268 |  |  |  | 17,795 |  |  |  | 58 |  |  |  | 257,121 |
Income from equity in subsidiaries |  |  | 14,096 |  |  |  | — |  |  |  | (14,096 | ) |  |  | — |
Loss from discontinued operations, net of taxes |  |  | — |  |  |  | (3,757 | ) |  |  | — |  |  |  | (3,757 | )
NET INCOME |  | $ | 253,364 |  |  | $ | 14,038 |  |  | $ | (14,038 | ) |  | $ | 253,364 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2014 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by (used in) operating activities |  | $ | 253,232 |  |  | $ | (4,543 | ) |  | $ | — |  |  | $ | 248,689 |
Net cash used in investing activities |  |  | (130,102 | ) |  |  | (81,892 | ) |  |  | 70,500 |  |  |  | (141,494 | )
Net cash provided by (used in) financing activities |  |  | (144,443 | ) |  |  | 78,676 |  |  |  | (70,500 | ) |  |  | (136,267 | )
Net decrease in cash and cash equivalents |  |  | (21,313 | ) |  |  | (7,759 | ) |  |  | — |  |  |  | (29,072 | )
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 31,647 |  |  |  | 46,272 |  |  |  | — |  |  |  | 77,919 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 10,334 |  |  | $ | 38,513 |  |  | $ | — |  |  | $ | 48,847 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2013 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 165,603 |  |  | $ | 118,001 |  |  | $ | — |  |  | $ | 283,604 |
Net cash provided by (used in) investing activities |  |  | (52,887 | ) |  |  | (44,681 | ) |  |  | 15,000 |  |  |  | (82,568 | )
Net cash used in financing activities |  |  | (61,708 | ) |  |  | (117,002 | ) |  |  | (15,000 | ) |  |  | (193,710 | )
Net increase (decrease) in cash and cash equivalents |  |  | 51,008 |  |  |  | (43,682 | ) |  |  | — |  |  |  | 7,326 |
CASH AND CASH EQUIVALENTS, beginning of period |  |  | — |  |  |  | 62,897 |  |  |  | — |  |  |  | 62,897 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 51,008 |  |  | $ | 19,215 |  |  | $ | — |  |  | $ | 70,223 |

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