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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF THE COMPANY AND SUBSIDIARIES (Tables) | 3 Months Ended
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Mar. 31, 2015
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET As of March 31, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 20,456 |  |  | $ | 53,566 |  |  | $ | — |  |  | $ | 74,022 |
Restricted cash |  |  | 662 |  |  |  | 1,592 |  |  |  | — |  |  |  | 2,254 |
Accounts receivable, net of allowance |  |  | 172,348 |  |  |  | 149,751 |  |  |  | (95,824 | ) |  |  | 226,275 |
Current deferred tax assets |  |  | 152 |  |  |  | 11,262 |  |  |  | — |  |  |  | 11,414 |
Prepaid expenses and other current assets |  |  | 3,888 |  |  |  | 33,514 |  |  |  | (8,189 | ) |  |  | 29,213 |
Total current assets |  |  | 197,506 |  |  |  | 249,685 |  |  |  | (104,013 | ) |  |  | 343,178 |
Property and equipment, net |  |  | 2,485,077 |  |  |  | 235,005 |  |  |  | — |  |  |  | 2,720,082 |
Restricted cash |  |  | 105 |  |  |  | — |  |  |  | — |  |  |  | 105 |
Investment in direct financing lease |  |  | 2,617 |  |  |  | — |  |  |  | — |  |  |  | 2,617 |
Goodwill |  |  | — |  |  |  | 15,155 |  |  |  | — |  |  |  | 15,155 |
Non-current deferred tax assets |  |  | — |  |  |  | 3,892 |  |  |  | (413 | ) |  |  | 3,479 |
Other assets |  |  | 239,176 |  |  |  | 45,874 |  |  |  | (209,895 | ) |  |  | 75,155 |
Total assets |  | $ | 2,924,481 |  |  | $ | 549,611 |  |  | $ | (314,321 | ) |  | $ | 3,159,771 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 209,626 |  |  | $ | 210,502 |  |  | $ | (103,979 | ) |  | $ | 316,149 |
Income taxes payable |  |  | 1 |  |  |  | 658 |  |  |  | — |  |  |  | 659 |
Total current liabilities |  |  | 209,627 |  |  |  | 211,160 |  |  |  | (103,979 | ) |  |  | 316,808 |
Long-term debt |  |  | 1,240,000 |  |  |  | 115,000 |  |  |  | (115,000 | ) |  |  | 1,240,000 |
Non-current deferred tax liabilities |  |  | 413 |  |  |  | — |  |  |  | (413 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 91,607 |  |  |  | — |  |  |  | 91,607 |
Other liabilities |  |  | 825 |  |  |  | 36,915 |  |  |  | — |  |  |  | 37,740 |
Total liabilities |  |  | 1,450,865 |  |  |  | 454,682 |  |  |  | (219,392 | ) |  |  | 1,686,155 |
Total stockholders’ equity |  |  | 1,473,616 |  |  |  | 94,929 |  |  |  | (94,929 | ) |  |  | 1,473,616 |
Total liabilities and stockholders’ equity |  | $ | 2,924,481 |  |  | $ | 549,611 |  |  | $ | (314,321 | ) |  | $ | 3,159,771 |
CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2014 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 12,337 |  |  | $ | 62,056 |  |  | $ | — |  |  | $ | 74,393 |
Accounts receivable, net of allowance |  |  | 167,626 |  |  |  | 178,911 |  |  |  | (97,949 | ) |  |  | 248,588 |
Current deferred tax assets |  |  | — |  |  |  | 13,241 |  |  |  | (12 | ) |  |  | 13,229 |
Prepaid expenses and other current assets |  |  | 17,060 |  |  |  | 34,705 |  |  |  | (21,990 | ) |  |  | 29,775 |
Total current assets |  |  | 197,023 |  |  |  | 288,913 |  |  |  | (119,951 | ) |  |  | 365,985 |
Property and equipment, net |  |  | 2,459,053 |  |  |  | 199,575 |  |  |  | — |  |  |  | 2,658,628 |
Restricted cash |  |  | 1,267 |  |  |  | 1,591 |  |  |  | — |  |  |  | 2,858 |
Investment in direct financing lease |  |  | 3,223 |  |  |  | — |  |  |  | — |  |  |  | 3,223 |
Goodwill |  |  | — |  |  |  | 16,110 |  |  |  | — |  |  |  | 16,110 |
Non-current deferred tax assets |  |  | — |  |  |  | 2,778 |  |  |  | (477 | ) |  |  | 2,301 |
Other assets |  |  | 241,690 |  |  |  | 47,046 |  |  |  | (210,650 | ) |  |  | 78,086 |
Total assets |  | $ | 2,902,256 |  |  | $ | 556,013 |  |  | $ | (331,078 | ) |  | $ | 3,127,191 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 218,403 |  |  | $ | 205,213 |  |  | $ | (106,050 | ) |  | $ | 317,566 |
Income taxes payable |  |  | 195 |  |  |  | 1,173 |  |  |  | — |  |  |  | 1,368 |
Current deferred tax liabilities |  |  | 13 |  |  |  | — |  |  |  | (13 | ) |  |  | — |
Note payable to an affiliate |  |  | — |  |  |  | 13,854 |  |  |  | (13,854 | ) |  |  | — |
Current liabilities of discontinued operations |  |  | — |  |  |  | 54 |  |  |  | — |  |  |  | 54 |
Total current liabilities |  |  | 218,611 |  |  |  | 220,294 |  |  |  | (119,917 | ) |  |  | 318,988 |
Long-term debt |  |  | 1,200,000 |  |  |  | 115,000 |  |  |  | (115,000 | ) |  |  | 1,200,000 |
Non-current deferred tax liabilities |  |  | 477 |  |  |  | — |  |  |  | (477 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 87,227 |  |  |  | — |  |  |  | 87,227 |
Other liabilities |  |  | 1,668 |  |  |  | 37,808 |  |  |  | — |  |  |  | 39,476 |
Total liabilities |  |  | 1,420,756 |  |  |  | 460,329 |  |  |  | (235,394 | ) |  |  | 1,645,691 |
Total stockholders’ equity |  |  | 1,481,500 |  |  |  | 95,684 |  |  |  | (95,684 | ) |  |  | 1,481,500 |
Total liabilities and stockholders’ equity |  | $ | 2,902,256 |  |  | $ | 556,013 |  |  | $ | (331,078 | ) |  | $ | 3,127,191 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended March 31, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 303,040 |  |  | $ | 335,223 |  |  | $ | (212,263 | ) |  | $ | 426,000 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 221,677 |  |  |  | 291,248 |  |  |  | (212,263 | ) |  |  | 300,662 |
General and administrative |  |  | 8,800 |  |  |  | 18,072 |  |  |  | — |  |  |  | 26,872 |
Depreciation and amortization |  |  | 20,069 |  |  |  | 8,616 |  |  |  | — |  |  |  | 28,685 |
Asset impairments |  |  | — |  |  |  | 955 |  |  |  | — |  |  |  | 955 |
|  |  | 250,546 |  |  |  | 318,891 |  |  |  | (212,263 | ) |  |  | 357,174 |
OPERATING INCOME |  |  | 52,494 |  |  |  | 16,332 |  |  |  | — |  |  |  | 68,826 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 8,427 |  |  |  | 1,763 |  |  |  | — |  |  |  | 10,190 |
Other (income) expense |  |  | 171 |  |  |  | (121 | ) |  |  | (76 | ) |  |  | (26 | )
|  |  | 8,598 |  |  |  | 1,642 |  |  |  | (76 | ) |  |  | 10,164 |
INCOME BEFORE INCOME TAXES |  |  | 43,896 |  |  |  | 14,690 |  |  |  | 76 |  |  |  | 58,662 |
Income tax expense |  |  | (176 | ) |  |  | (1,209 | ) |  |  | — |  |  |  | (1,385 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 43,720 |  |  |  | 13,481 |  |  |  | 76 |  |  |  | 57,277 |
Income from equity in subsidiaries |  |  | 13,557 |  |  |  | — |  |  |  | (13,557 | ) |  |  | — |
NET INCOME |  | $ | 57,277 |  |  | $ | 13,481 |  |  | $ | (13,481 | ) |  | $ | 57,277 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended March 31, 2014 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 306,248 |  |  | $ | 311,247 |  |  | $ | (213,273 | ) |  | $ | 404,222 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 219,705 |  |  |  | 280,948 |  |  |  | (213,273 | ) |  |  | 287,380 |
General and administrative |  |  | 8,676 |  |  |  | 16,716 |  |  |  | — |  |  |  | 25,392 |
Depreciation and amortization |  |  | 19,769 |  |  |  | 8,615 |  |  |  | — |  |  |  | 28,384 |
|  |  | 248,150 |  |  |  | 306,279 |  |  |  | (213,273 | ) |  |  | 341,156 |
OPERATING INCOME |  |  | 58,098 |  |  |  | 4,968 |  |  |  | — |  |  |  | 63,066 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 8,602 |  |  |  | 1,746 |  |  |  | — |  |  |  | 10,348 |
Other (income) expense |  |  | (38 | ) |  |  | (79 | ) |  |  | (270 | ) |  |  | (387 | )
|  |  | 8,564 |  |  |  | 1,667 |  |  |  | (270 | ) |  |  | 9,961 |
INCOME BEFORE INCOME TAXES |  |  | 49,534 |  |  |  | 3,301 |  |  |  | 270 |  |  |  | 53,105 |
Income tax expense |  |  | (220 | ) |  |  | (1,147 | ) |  |  | — |  |  |  | (1,367 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 49,314 |  |  |  | 2,154 |  |  |  | 270 |  |  |  | 51,738 |
Income from equity in subsidiaries |  |  | 2,424 |  |  |  | — |  |  |  | (2,424 | ) |  |  | — |
NET INCOME |  | $ | 51,738 |  |  | $ | 2,154 |  |  | $ | (2,154 | ) |  | $ | 51,738 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 65,048 |  |  | $ | 52,138 |  |  | $ | — |  |  | $ | 117,186 |
Net cash used in investing activities |  |  | (32,119 | ) |  |  | (32,463 | ) |  |  | (26,999 | ) |  |  | (91,581 | )
Net cash provided by (used in) financing activities |  |  | (24,810 | ) |  |  | (28,165 | ) |  |  | 26,999 |  |  |  | (25,976 | )
Net increase (decrease) in cash and cash equivalents |  |  | 8,119 |  |  |  | (8,490 | ) |  |  | — |  |  |  | (371 | )
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 12,337 |  |  |  | 62,056 |  |  |  | — |  |  |  | 74,393 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 20,456 |  |  | $ | 53,566 |  |  | $ | — |  |  | $ | 74,022 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2014 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by (used in) operating activities |  | $ | 86,628 |  |  | $ | (20,046 | ) |  | $ | — |  |  | $ | 66,582 |
Net cash used in investing activities |  |  | (24,008 | ) |  |  | (2,718 | ) |  |  | — |  |  |  | (26,726 | )
Net cash provided by (used in) financing activities |  |  | (66,062 | ) |  |  | 968 |  |  |  | — |  |  |  | (65,094 | )
Net decrease in cash and cash equivalents |  |  | (3,442 | ) |  |  | (21,796 | ) |  |  | — |  |  |  | (25,238 | )
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 31,647 |  |  |  | 46,272 |  |  |  | — |  |  |  | 77,919 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 28,205 |  |  | $ | 24,476 |  |  | $ | — |  |  | $ | 52,681 |

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