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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF THE COMPANY AND SUBSIDIARIES (Tables) | 9 Months Ended
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Sep. 30, 2016
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET As of September 30, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 22,704 |  |  | $ | 20,027 |  |  | $ | — |  |  | $ | 42,731 |
Accounts receivable, net of allowance |  |  | 241,507 |  |  |  | 284,022 |  |  |  | (303,109 | ) |  |  | 222,420 |
Prepaid expenses and other current assets |  |  | 3,020 |  |  |  | 35,832 |  |  |  | (6,110 | ) |  |  | 32,742 |
Total current assets |  |  | 267,231 |  |  |  | 339,881 |  |  |  | (309,219 | ) |  |  | 297,893 |
Property and equipment, net |  |  | 2,499,353 |  |  |  | 350,866 |  |  |  | — |  |  |  | 2,850,219 |
Restricted cash |  |  | 218 |  |  |  | — |  |  |  | — |  |  |  | 218 |
Goodwill |  |  | 23,231 |  |  |  | 15,155 |  |  |  | — |  |  |  | 38,386 |
Non-current deferred tax assets |  |  | — |  |  |  | 12,295 |  |  |  | (322 | ) |  |  | 11,973 |
Other assets |  |  | 343,811 |  |  |  | 60,626 |  |  |  | (317,614 | ) |  |  | 86,823 |
Total assets |  | $ | 3,133,844 |  |  | $ | 778,823 |  |  | $ | (627,155 | ) |  | $ | 3,285,512 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 256,522 |  |  | $ | 382,143 |  |  | $ | (309,219 | ) |  | $ | 329,446 |
Income taxes payable |  |  | 1,374 |  |  |  | 253 |  |  |  | — |  |  |  | 1,627 |
Current portion of long-term debt |  |  | 8,750 |  |  |  | — |  |  |  | — |  |  |  | 8,750 |
Total current liabilities |  |  | 266,646 |  |  |  | 382,396 |  |  |  | (309,219 | ) |  |  | 339,823 |
Long-term debt, net |  |  | 1,421,228 |  |  |  | 113,927 |  |  |  | (115,000 | ) |  |  | 1,420,155 |
Non-current deferred tax liabilities |  |  | 322 |  |  |  | — |  |  |  | (322 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 36,257 |  |  |  | — |  |  |  | 36,257 |
Other liabilities |  |  | 1,455 |  |  |  | 43,629 |  |  |  | — |  |  |  | 45,084 |
Total liabilities |  |  | 1,689,651 |  |  |  | 576,209 |  |  |  | (424,541 | ) |  |  | 1,841,319 |
Total stockholders’ equity |  |  | 1,444,193 |  |  |  | 202,614 |  |  |  | (202,614 | ) |  |  | 1,444,193 |
Total liabilities and stockholders’ equity |  | $ | 3,133,844 |  |  | $ | 778,823 |  |  | $ | (627,155 | ) |  | $ | 3,285,512 |
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 September 30, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 298,659 |  |  | $ | 398,617 |  |  | $ | (222,341 | ) |  | $ | 474,935 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 230,244 |  |  |  | 318,446 |  |  |  | (222,341 | ) |  |  | 326,349 |
General and administrative |  |  | 9,326 |  |  |  | 18,373 |  |  |  | — |  |  |  | 27,699 |
Depreciation and amortization |  |  | 21,321 |  |  |  | 21,603 |  |  |  | — |  |  |  | 42,924 |
Restructuring charges |  |  | 197 |  |  |  | 3,813 |  |  |  | — |  |  |  | 4,010 |
|  |  | 261,088 |  |  |  | 362,235 |  |  |  | (222,341 | ) |  |  | 400,982 |
OPERATING INCOME |  |  | 37,571 |  |  |  | 36,382 |  |  |  | — |  |  |  | 73,953 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 12,975 |  |  |  | 3,962 |  |  |  | — |  |  |  | 16,937 |
Other (income) expense |  |  | 115 |  |  |  | (57 | ) |  |  | (4 | ) |  |  | 54 |
|  |  | 13,090 |  |  |  | 3,905 |  |  |  | (4 | ) |  |  | 16,991 |
INCOME BEFORE INCOME TAXES |  |  | 24,481 |  |  |  | 32,477 |  |  |  | 4 |  |  |  | 56,962 |
Income tax expense |  |  | (512 | ) |  |  | (1,110 | ) |  |  | — |  |  |  | (1,622 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 23,969 |  |  |  | 31,367 |  |  |  | 4 |  |  |  | 55,340 |
Income from equity in subsidiaries |  |  | 31,371 |  |  |  | — |  |  |  | (31,371 | ) |  |  | — |
NET INCOME |  | $ | 55,340 |  |  | $ | 31,367 |  |  | $ | (31,367 | ) |  | $ | 55,340 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended September 30, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 294,578 |  |  | $ | 384,840 |  |  | $ | (219,461 | ) |  | $ | 459,957 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 226,020 |  |  |  | 319,941 |  |  |  | (219,461 | ) |  |  | 326,500 |
General and administrative |  |  | 8,226 |  |  |  | 18,565 |  |  |  | — |  |  |  | 26,791 |
Depreciation and amortization |  |  | 20,623 |  |  |  | 20,607 |  |  |  | — |  |  |  | 41,230 |
|  |  | 254,869 |  |  |  | 359,113 |  |  |  | (219,461 | ) |  |  | 394,521 |
OPERATING INCOME |  |  | 39,709 |  |  |  | 25,727 |  |  |  | — |  |  |  | 65,436 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 7,739 |  |  |  | 4,025 |  |  |  | — |  |  |  | 11,764 |
Expenses associated with debt refinancing transactions |  |  | 701 |  |  |  | — |  |  |  | — |  |  |  | 701 |
Other (income) expense |  |  | 131 |  |  |  | (469 | ) |  |  | (25 | ) |  |  | (363 | )
|  |  | 8,571 |  |  |  | 3,556 |  |  |  | (25 | ) |  |  | 12,102 |
INCOME BEFORE INCOME TAXES |  |  | 31,138 |  |  |  | 22,171 |  |  |  | 25 |  |  |  | 53,334 |
Income tax expense |  |  | (480 | ) |  |  | (2,178 | ) |  |  | — |  |  |  | (2,658 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 30,658 |  |  |  | 19,993 |  |  |  | 25 |  |  |  | 50,676 |
Income from equity in subsidiaries |  |  | 20,018 |  |  |  | — |  |  |  | (20,018 | ) |  |  | — |
NET INCOME |  | $ | 50,676 |  |  | $ | 19,993 |  |  | $ | (19,993 | ) |  | $ | 50,676 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the nine months ended September 30, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 876,697 |  |  | $ | 1,162,834 |  |  | $ | (653,880 | ) |  | $ | 1,385,651 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 676,997 |  |  |  | 933,596 |  |  |  | (653,880 | ) |  |  | 956,713 |
General and administrative |  |  | 27,352 |  |  |  | 54,191 |  |  |  | — |  |  |  | 81,543 |
Depreciation and amortization |  |  | 63,267 |  |  |  | 64,061 |  |  |  |  |  |  |  | 127,328 |
Restructuring charges |  |  | 197 |  |  |  | 3,813 |  |  |  | — |  |  |  | 4,010 |
|  |  | 767,813 |  |  |  | 1,055,661 |  |  |  | (653,880 | ) |  |  | 1,169,594 |
OPERATING INCOME |  |  | 108,884 |  |  |  | 107,173 |  |  |  | — |  |  |  | 216,057 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 38,845 |  |  |  | 12,432 |  |  |  | — |  |  |  | 51,277 |
Other (income) expense |  |  | 516 |  |  |  | (401 | ) |  |  | (12 | ) |  |  | 103 |
|  |  | 39,361 |  |  |  | 12,031 |  |  |  | (12 | ) |  |  | 51,380 |
INCOME BEFORE INCOME TAXES |  |  | 69,523 |  |  |  | 95,142 |  |  |  | 12 |  |  |  | 164,677 |
Income tax expense |  |  | (1,393 | ) |  |  | (4,054 | ) |  |  | — |  |  |  | (5,447 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 68,130 |  |  |  | 91,088 |  |  |  | 12 |  |  |  | 159,230 |
Income from equity in subsidiaries |  |  | 91,100 |  |  |  | — |  |  |  | (91,100 | ) |  |  | — |
NET INCOME |  | $ | 159,230 |  |  | $ | 91,088 |  |  | $ | (91,088 | ) |  | $ | 159,230 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the nine months ended September 30, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 899,992 |  |  | $ | 1,093,011 |  |  | $ | (647,751 | ) |  | $ | 1,345,252 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 669,653 |  |  |  | 923,295 |  |  |  | (647,751 | ) |  |  | 945,197 |
General and administrative |  |  | 23,725 |  |  |  | 53,045 |  |  |  | — |  |  |  | 76,770 |
Depreciation and amortization |  |  | 60,967 |  |  |  | 47,348 |  |  |  | — |  |  |  | 108,315 |
Asset impairments |  |  | — |  |  |  | 955 |  |  |  | — |  |  |  | 955 |
|  |  | 754,345 |  |  |  | 1,024,643 |  |  |  | (647,751 | ) |  |  | 1,131,237 |
OPERATING INCOME |  |  | 145,647 |  |  |  | 68,368 |  |  |  | — |  |  |  | 214,015 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 24,420 |  |  |  | 9,295 |  |  |  | — |  |  |  | 33,715 |
Expenses associated with debt refinancing transactions |  |  | 701 |  |  |  | — |  |  |  | — |  |  |  | 701 |
Other (income) expense |  |  | 91 |  |  |  | (479 | ) |  |  | 35 |  |  |  | (353 | )
|  |  | 25,212 |  |  |  | 8,816 |  |  |  | 35 |  |  |  | 34,063 |
INCOME BEFORE INCOME TAXES |  |  | 120,435 |  |  |  | 59,552 |  |  |  | (35 | ) |  |  | 179,952 |
Income tax expense |  |  | (1,001 | ) |  |  | (5,695 | ) |  |  | — |  |  |  | (6,696 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 119,434 |  |  |  | 53,857 |  |  |  | (35 | ) |  |  | 173,256 |
Income from equity in subsidiaries |  |  | 53,822 |  |  |  | — |  |  |  | (53,822 | ) |  |  | — |
NET INCOME |  | $ | 173,256 |  |  | $ | 53,857 |  |  | $ | (53,857 | ) |  | $ | 173,256 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 271,286 |  |  | $ | 29,901 |  |  | $ | — |  |  | $ | 301,187 |
Net cash used in investing activities |  |  | (35,510 | ) |  |  | (60,453 | ) |  |  | — |  |  |  | (95,963 | )
Net cash provided by (used in) financing activities |  |  | (228,738 | ) |  |  | 954 |  |  |  | — |  |  |  | (227,784 | )
Net increase (decrease) in cash and cash equivalents |  |  | 7,038 |  |  |  | (29,598 | ) |  |  | — |  |  |  | (22,560 | )
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 15,666 |  |  |  | 49,625 |  |  |  | — |  |  |  | 65,291 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 22,704 |  |  | $ | 20,027 |  |  | $ | — |  |  |  | 42,731 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 182,363 |  |  | $ | 123,378 |  |  | $ | — |  |  | $ | 305,741 |
Net cash used in investing activities |  |  | (82,731 | ) |  |  | (75,349 | ) |  |  | (67,599 | ) |  |  | (225,679 | )
Net cash provided by (used in) financing activities |  |  | (79,552 | ) |  |  | (64,100 | ) |  |  | 67,599 |  |  |  | (76,053 | )
Net increase (decrease) in cash and cash equivalents |  |  | 20,080 |  |  |  | (16,071 | ) |  |  | — |  |  |  | 4,009 |
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 12,337 |  |  |  | 62,056 |  |  |  | — |  |  |  | 74,393 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 32,417 |  |  | $ | 45,985 |  |  | $ | — |  |  | $ | 78,402 |

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