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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF THE COMPANY AND SUBSIDIARIES (Tables) | 6 Months Ended
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Jun. 30, 2016
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET As of June 30, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 20,641 |  |  | $ | 50,202 |  |  | $ | — |  |  | $ | 70,843 |
Accounts receivable, net of allowance |  |  | 262,953 |  |  |  | 234,914 |  |  |  | (276,440 | ) |  |  | 221,427 |
Prepaid expenses and other current assets |  |  | 3,836 |  |  |  | 35,345 |  |  |  | (6,186 | ) |  |  | 32,995 |
Total current assets |  |  | 287,430 |  |  |  | 320,461 |  |  |  | (282,626 | ) |  |  | 325,265 |
Property and equipment, net |  |  | 2,506,346 |  |  |  | 363,804 |  |  |  | — |  |  |  | 2,870,150 |
Restricted cash |  |  | 218 |  |  |  | — |  |  |  | — |  |  |  | 218 |
Goodwill |  |  | 23,260 |  |  |  | 15,155 |  |  |  | — |  |  |  | 38,415 |
Non-current deferred tax assets |  |  | — |  |  |  | 8,085 |  |  |  | (311 | ) |  |  | 7,774 |
Other assets |  |  | 305,404 |  |  |  | 59,140 |  |  |  | (278,616 | ) |  |  | 85,928 |
Total assets |  | $ | 3,122,658 |  |  | $ | 766,645 |  |  | $ | (561,553 | ) |  | $ | 3,327,750 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 218,944 |  |  | $ | 396,542 |  |  | $ | (282,627 | ) |  | $ | 332,859 |
Income taxes payable |  |  | 908 |  |  |  | 231 |  |  |  | — |  |  |  | 1,139 |
Current portion of long-term debt |  |  | 7,500 |  |  |  | — |  |  |  | — |  |  |  | 7,500 |
Total current liabilities |  |  | 227,352 |  |  |  | 396,773 |  |  |  | (282,627 | ) |  |  | 341,498 |
Long-term debt, net |  |  | 1,449,270 |  |  |  | 113,872 |  |  |  | (115,000 | ) |  |  | 1,448,142 |
Non-current deferred tax liabilities |  |  | 311 |  |  |  | — |  |  |  | (311 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 45,608 |  |  |  | — |  |  |  | 45,608 |
Other liabilities |  |  | 1,098 |  |  |  | 46,777 |  |  |  | — |  |  |  | 47,875 |
Total liabilities |  |  | 1,678,031 |  |  |  | 603,030 |  |  |  | (397,938 | ) |  |  | 1,883,123 |
Total stockholders’ equity |  |  | 1,444,627 |  |  |  | 163,615 |  |  |  | (163,615 | ) |  |  | 1,444,627 |
Total liabilities and stockholders’ equity |  | $ | 3,122,658 |  |  | $ | 766,645 |  |  | $ | (561,553 | ) |  | $ | 3,327,750 |
CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 15,666 |  |  | $ | 49,625 |  |  | $ | — |  |  | $ | 65,291 |
Restricted cash |  |  | 637 |  |  |  | 240 |  |  |  | — |  |  |  | 877 |
Accounts receivable, net of allowance |  |  | 300,632 |  |  |  | 159,286 |  |  |  | (225,462 | ) |  |  | 234,456 |
Prepaid expenses and other current assets |  |  | 3,760 |  |  |  | 43,706 |  |  |  | (6,032 | ) |  |  | 41,434 |
Total current assets |  |  | 320,695 |  |  |  | 252,857 |  |  |  | (231,494 | ) |  |  | 342,058 |
Property and equipment, net |  |  | 2,526,278 |  |  |  | 356,782 |  |  |  | — |  |  |  | 2,883,060 |
Restricted cash |  |  | 131 |  |  |  | — |  |  |  | — |  |  |  | 131 |
Investment in direct financing lease |  |  | 684 |  |  |  | — |  |  |  | — |  |  |  | 684 |
Goodwill |  |  | 20,402 |  |  |  | 15,155 |  |  |  | — |  |  |  | 35,557 |
Non-current deferred tax assets |  |  | — |  |  |  | 10,217 |  |  |  | (393 | ) |  |  | 9,824 |
Other assets |  |  | 241,510 |  |  |  | 57,120 |  |  |  | (213,926 | ) |  |  | 84,704 |
Total assets |  | $ | 3,109,700 |  |  | $ | 692,131 |  |  | $ | (445,813 | ) |  | $ | 3,356,018 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 191,600 |  |  | $ | 357,569 |  |  | $ | (231,494 | ) |  | $ | 317,675 |
Income taxes payable |  |  | — |  |  |  | 1,920 |  |  |  | — |  |  |  | 1,920 |
Current portion of long-term debt |  |  | 5,000 |  |  |  | — |  |  |  | — |  |  |  | 5,000 |
Total current liabilities |  |  | 196,600 |  |  |  | 359,489 |  |  |  | (231,494 | ) |  |  | 324,595 |
Long-term debt, net |  |  | 1,448,316 |  |  |  | 113,761 |  |  |  | (115,000 | ) |  |  | 1,447,077 |
Non-current deferred tax liabilities |  |  | 393 |  |  |  | — |  |  |  | (393 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 63,289 |  |  |  | — |  |  |  | 63,289 |
Other liabilities |  |  | 1,643 |  |  |  | 56,666 |  |  |  | — |  |  |  | 58,309 |
Total liabilities |  |  | 1,646,952 |  |  |  | 593,205 |  |  |  | (346,887 | ) |  |  | 1,893,270 |
Total stockholders’ equity |  |  | 1,462,748 |  |  |  | 98,926 |  |  |  | (98,926 | ) |  |  | 1,462,748 |
Total liabilities and stockholders’ equity |  | $ | 3,109,700 |  |  | $ | 692,131 |  |  | $ | (445,813 | ) |  | $ | 3,356,018 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended June 30, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 293,314 |  |  | $ | 386,740 |  |  | $ | (216,723 | ) |  | $ | 463,331 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 224,689 |  |  |  | 308,480 |  |  |  | (216,723 | ) |  |  | 316,446 |
General and administrative |  |  | 8,832 |  |  |  | 18,532 |  |  |  | — |  |  |  | 27,364 |
Depreciation and amortization |  |  | 21,055 |  |  |  | 21,290 |  |  |  | — |  |  |  | 42,345 |
|  |  | 254,576 |  |  |  | 348,302 |  |  |  | (216,723 | ) |  |  | 386,155 |
OPERATING INCOME |  |  | 38,738 |  |  |  | 38,438 |  |  |  | — |  |  |  | 77,176 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 12,868 |  |  |  | 3,928 |  |  |  | — |  |  |  | 16,796 |
Other (income) expense |  |  | 289 |  |  |  | (153 | ) |  |  | (4 | ) |  |  | 132 |
|  |  | 13,157 |  |  |  | 3,775 |  |  |  | (4 | ) |  |  | 16,928 |
INCOME BEFORE INCOME TAXES |  |  | 25,581 |  |  |  | 34,663 |  |  |  | 4 |  |  |  | 60,248 |
Income tax expense |  |  | (515 | ) |  |  | (2,150 | ) |  |  | — |  |  |  | (2,665 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 25,066 |  |  |  | 32,513 |  |  |  | 4 |  |  |  | 57,583 |
Income from equity in subsidiaries |  |  | 32,517 |  |  |  | — |  |  |  | (32,517 | ) |  |  | — |
NET INCOME |  | $ | 57,583 |  |  | $ | 32,513 |  |  | $ | (32,513 | ) |  | $ | 57,583 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended June 30, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 302,374 |  |  | $ | 372,948 |  |  | $ | (216,027 | ) |  | $ | 459,295 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 221,956 |  |  |  | 312,106 |  |  |  | (216,027 | ) |  |  | 318,035 |
General and administrative |  |  | 6,699 |  |  |  | 16,408 |  |  |  | — |  |  |  | 23,107 |
Depreciation and amortization |  |  | 20,275 |  |  |  | 18,125 |  |  |  | — |  |  |  | 38,400 |
Asset impairments |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 248,930 |  |  |  | 346,639 |  |  |  | (216,027 | ) |  |  | 379,542 |
OPERATING INCOME |  |  | 53,444 |  |  |  | 26,309 |  |  |  | — |  |  |  | 79,753 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 8,254 |  |  |  | 3,507 |  |  |  | — |  |  |  | 11,761 |
Other (income) expense |  |  | (211 | ) |  |  | 111 |  |  |  | 136 |  |  |  | 36 |
|  |  | 8,043 |  |  |  | 3,618 |  |  |  | 136 |  |  |  | 11,797 |
INCOME BEFORE INCOME TAXES |  |  | 45,401 |  |  |  | 22,691 |  |  |  | (136 | ) |  |  | 67,956 |
Income tax expense |  |  | (345 | ) |  |  | (2,308 | ) |  |  | — |  |  |  | (2,653 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 45,056 |  |  |  | 20,383 |  |  |  | (136 | ) |  |  | 65,303 |
Income from equity in subsidiaries |  |  | 20,247 |  |  |  | — |  |  |  | (20,247 | ) |  |  | — |
NET INCOME |  | $ | 65,303 |  |  | $ | 20,383 |  |  | $ | (20,383 | ) |  | $ | 65,303 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the six months ended June 30, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 578,038 |  |  | $ | 764,217 |  |  | $ | (431,539 | ) |  | $ | 910,716 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 446,753 |  |  |  | 615,150 |  |  |  | (431,539 | ) |  |  | 630,364 |
General and administrative |  |  | 18,026 |  |  |  | 35,818 |  |  |  | — |  |  |  | 53,844 |
Depreciation and amortization |  |  | 41,946 |  |  |  | 42,458 |  |  |  | — |  |  |  | 84,404 |
|  |  | 506,725 |  |  |  | 693,426 |  |  |  | (431,539 | ) |  |  | 768,612 |
OPERATING INCOME |  |  | 71,313 |  |  |  | 70,791 |  |  |  | — |  |  |  | 142,104 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 25,870 |  |  |  | 8,470 |  |  |  | — |  |  |  | 34,340 |
Other (income) expense |  |  | 401 |  |  |  | (344 | ) |  |  | (8 | ) |  |  | 49 |
|  |  | 26,271 |  |  |  | 8,126 |  |  |  | (8 | ) |  |  | 34,389 |
INCOME BEFORE INCOME TAXES |  |  | 45,042 |  |  |  | 62,665 |  |  |  | 8 |  |  |  | 107,715 |
Income tax expense |  |  | (881 | ) |  |  | (2,944 | ) |  |  | — |  |  |  | (3,825 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 44,161 |  |  |  | 59,721 |  |  |  | 8 |  |  |  | 103,890 |
Income from equity in subsidiaries |  |  | 59,729 |  |  |  | — |  |  |  | (59,729 | ) |  |  | — |
NET INCOME |  | $ | 103,890 |  |  | $ | 59,721 |  |  | $ | (59,721 | ) |  | $ | 103,890 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the six months ended June 30, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 605,414 |  |  | $ | 708,171 |  |  | $ | (428,290 | ) |  | $ | 885,295 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 443,633 |  |  |  | 603,354 |  |  |  | (428,290 | ) |  |  | 618,697 |
General and administrative |  |  | 15,499 |  |  |  | 34,480 |  |  |  | — |  |  |  | 49,979 |
Depreciation and amortization |  |  | 40,344 |  |  |  | 26,741 |  |  |  | — |  |  |  | 67,085 |
Asset impairments |  |  | — |  |  |  | 955 |  |  |  | — |  |  |  | 955 |
|  |  | 499,476 |  |  |  | 665,530 |  |  |  | (428,290 | ) |  |  | 736,716 |
OPERATING INCOME |  |  | 105,938 |  |  |  | 42,641 |  |  |  | — |  |  |  | 148,579 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 16,681 |  |  |  | 5,270 |  |  |  | — |  |  |  | 21,951 |
Other (income) expense |  |  | (40 | ) |  |  | (10 | ) |  |  | 60 |  |  |  | 10 |
|  |  | 16,641 |  |  |  | 5,260 |  |  |  | 60 |  |  |  | 21,961 |
INCOME BEFORE INCOME TAXES |  |  | 89,297 |  |  |  | 37,381 |  |  |  | (60 | ) |  |  | 126,618 |
Income tax expense |  |  | (521 | ) |  |  | (3,517 | ) |  |  | — |  |  |  | (4,038 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 88,776 |  |  |  | 33,864 |  |  |  | (60 | ) |  |  | 122,580 |
Income from equity in subsidiaries |  |  | 33,804 |  |  |  | — |  |  |  | (33,804 | ) |  |  | — |
NET INCOME |  | $ | 122,580 |  |  | $ | 33,864 |  |  | $ | (33,864 | ) |  | $ | 122,580 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 158,035 |  |  | $ | 55,291 |  |  | $ | — |  |  | $ | 213,326 |
Net cash used in investing activities |  |  | (20,643 | ) |  |  | (51,899 | ) |  |  | — |  |  |  | (72,542 | )
Net cash used in financing activities |  |  | (132,417 | ) |  |  | (2,815 | ) |  |  | — |  |  |  | (135,232 | )
Net increase in cash and cash equivalents |  |  | 4,975 |  |  |  | 577 |  |  |  | — |  |  |  | 5,552 |
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 15,666 |  |  |  | 49,625 |  |  |  | — |  |  |  | 65,291 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 20,641 |  |  | $ | 50,202 |  |  | $ | — |  |  |  | 70,843 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 100,465 |  |  | $ | 114,782 |  |  | $ | — |  |  | $ | 215,247 |
Net cash used in investing activities |  |  | (19,214 | ) |  |  | (55,143 | ) |  |  | (84,999 | ) |  |  | (159,356 | )
Net cash provided by (used in) financing activities |  |  | (92,032 | ) |  |  | (82,182 | ) |  |  | 84,999 |  |  |  | (89,215 | )
Net decrease in cash and cash equivalents |  |  | (10,781 | ) |  |  | (22,543 | ) |  |  | — |  |  |  | (33,324 | )
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 12,337 |  |  |  | 62,056 |  |  |  | — |  |  |  | 74,393 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 1,556 |  |  | $ | 39,513 |  |  | $ | — |  |  | $ | 41,069 |

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