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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF THE COMPANY AND SUBSIDIARIES (Tables) | 3 Months Ended
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Mar. 31, 2017
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET As of March 31, 2017 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 16,482 |  |  | $ | 26,682 |  |  | $ | — |  |  | $ | 43,164 |
Accounts receivable, net of allowance |  |  | 218,412 |  |  |  | 279,745 |  |  |  | (285,130 | ) |  |  | 213,027 |
Prepaid expenses and other current assets |  |  | 2,890 |  |  |  | 28,606 |  |  |  | (6,105 | ) |  |  | 25,391 |
Total current assets |  |  | 237,784 |  |  |  | 335,033 |  |  |  | (291,235 | ) |  |  | 281,582 |
Property and equipment, net |  |  | 2,487,309 |  |  |  | 335,496 |  |  |  | — |  |  |  | 2,822,805 |
Goodwill |  |  | 23,231 |  |  |  | 14,896 |  |  |  | — |  |  |  | 38,127 |
Non-current deferred tax assets |  |  | — |  |  |  | 12,365 |  |  |  | (497 | ) |  |  | 11,868 |
Other assets |  |  | 358,111 |  |  |  | 62,692 |  |  |  | (334,567 | ) |  |  | 86,236 |
Total assets |  | $ | 3,106,435 |  |  | $ | 760,482 |  |  | $ | (626,299 | ) |  | $ | 3,240,618 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 207,007 |  |  | $ | 324,814 |  |  | $ | (291,235 | ) |  | $ | 240,586 |
Income taxes payable |  |  | 2,826 |  |  |  | (225 | ) |  |  | — |  |  |  | 2,601 |
Current portion of long-term debt |  |  | 10,000 |  |  |  | — |  |  |  | — |  |  |  | 10,000 |
Total current liabilities |  |  | 219,833 |  |  |  | 324,589 |  |  |  | (291,235 | ) |  |  | 253,187 |
Long-term debt, net |  |  | 1,422,144 |  |  |  | 114,038 |  |  |  | (115,000 | ) |  |  | 1,421,182 |
Non-current deferred tax liabilities |  |  | 497 |  |  |  | — |  |  |  | (497 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 50,006 |  |  |  | — |  |  |  | 50,006 |
Other liabilities |  |  | 800 |  |  |  | 52,282 |  |  |  | — |  |  |  | 53,082 |
Total liabilities |  |  | 1,643,274 |  |  |  | 540,915 |  |  |  | (406,732 | ) |  |  | 1,777,457 |
Total stockholders’ equity |  |  | 1,463,161 |  |  |  | 219,567 |  |  |  | (219,567 | ) |  |  | 1,463,161 |
Total liabilities and stockholders’ equity |  | $ | 3,106,435 |  |  | $ | 760,482 |  |  | $ | (626,299 | ) |  | $ | 3,240,618 |
CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 11,378 |  |  | $ | 26,333 |  |  | $ | — |  |  | $ | 37,711 |
Accounts receivable, net of allowance |  |  | 237,495 |  |  |  | 270,952 |  |  |  | (278,562 | ) |  |  | 229,885 |
Prepaid expenses and other current assets |  |  | 7,582 |  |  |  | 30,123 |  |  |  | (6,477 | ) |  |  | 31,228 |
Total current assets |  |  | 256,455 |  |  |  | 327,408 |  |  |  | (285,039 | ) |  |  | 298,824 |
Property and equipment, net |  |  | 2,493,025 |  |  |  | 344,632 |  |  |  | — |  |  |  | 2,837,657 |
Goodwill |  |  | 23,231 |  |  |  | 15,155 |  |  |  | — |  |  |  | 38,386 |
Non-current deferred tax assets |  |  | — |  |  |  | 14,056 |  |  |  | (321 | ) |  |  | 13,735 |
Other assets |  |  | 339,391 |  |  |  | 57,873 |  |  |  | (314,262 | ) |  |  | 83,002 |
Total assets |  | $ | 3,112,102 |  |  | $ | 759,124 |  |  | $ | (599,622 | ) |  | $ | 3,271,604 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 203,074 |  |  | $ | 342,072 |  |  | $ | (285,039 | ) |  | $ | 260,107 |
Income taxes payable |  |  | 1,850 |  |  |  | 236 |  |  |  | — |  |  |  | 2,086 |
Current portion of long-term debt |  |  | 10,000 |  |  |  | — |  |  |  | — |  |  |  | 10,000 |
Total current liabilities |  |  | 214,924 |  |  |  | 342,308 |  |  |  | (285,039 | ) |  |  | 272,193 |
Long-term debt, net |  |  | 1,436,186 |  |  |  | 113,983 |  |  |  | (115,000 | ) |  |  | 1,435,169 |
Non-current deferred tax liabilities |  |  | 321 |  |  |  | — |  |  |  | (321 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 53,437 |  |  |  | — |  |  |  | 53,437 |
Other liabilities |  |  | 1,708 |  |  |  | 50,134 |  |  |  | — |  |  |  | 51,842 |
Total liabilities |  |  | 1,653,139 |  |  |  | 559,862 |  |  |  | (400,360 | ) |  |  | 1,812,641 |
Total stockholders’ equity |  |  | 1,458,963 |  |  |  | 199,262 |  |  |  | (199,262 | ) |  |  | 1,458,963 |
Total liabilities and stockholders’ equity |  | $ | 3,112,102 |  |  | $ | 759,124 |  |  | $ | (599,622 | ) |  | $ | 3,271,604 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended March 31, 2017 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 299,515 |  |  | $ | 364,750 |  |  | $ | (218,581 | ) |  | $ | 445,684 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 226,637 |  |  |  | 307,247 |  |  |  | (218,581 | ) |  |  | 315,303 |
General and administrative |  |  | 8,336 |  |  |  | 16,490 |  |  |  | — |  |  |  | 24,826 |
Depreciation and amortization |  |  | 21,348 |  |  |  | 14,909 |  |  |  | — |  |  |  | 36,257 |
Asset impairments |  |  | — |  |  |  | 259 |  |  |  |  |  |  |  | 259 |
|  |  | 256,321 |  |  |  | 338,905 |  |  |  | (218,581 | ) |  |  | 376,645 |
OPERATING INCOME |  |  | 43,194 |  |  |  | 25,845 |  |  |  | — |  |  |  | 69,039 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 13,436 |  |  |  | 3,054 |  |  |  | — |  |  |  | 16,490 |
Other (income) expense |  |  | (29 | ) |  |  | 36 |  |  |  | 10 |  |  |  | 17 |
|  |  | 13,407 |  |  |  | 3,090 |  |  |  | 10 |  |  |  | 16,507 |
INCOME BEFORE INCOME TAXES |  |  | 29,787 |  |  |  | 22,755 |  |  |  | (10 | ) |  |  | 52,532 |
Income tax expense |  |  | (720 | ) |  |  | (1,765 | ) |  |  | — |  |  |  | (2,485 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 29,067 |  |  |  | 20,990 |  |  |  | (10 | ) |  |  | 50,047 |
Income from equity in subsidiaries |  |  | 20,980 |  |  |  | — |  |  |  | (20,980 | ) |  |  | — |
NET INCOME |  | $ | 50,047 |  |  | $ | 20,990 |  |  | $ | (20,990 | ) |  | $ | 50,047 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended March 31, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 284,724 |  |  | $ | 377,477 |  |  | $ | (214,816 | ) |  | $ | 447,385 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 222,064 |  |  |  | 306,670 |  |  |  | (214,816 | ) |  |  | 313,918 |
General and administrative |  |  | 9,194 |  |  |  | 17,286 |  |  |  | — |  |  |  | 26,480 |
Depreciation and amortization |  |  | 20,891 |  |  |  | 21,168 |  |  |  | — |  |  |  | 42,059 |
|  |  | 252,149 |  |  |  | 345,124 |  |  |  | (214,816 | ) |  |  | 382,457 |
OPERATING INCOME |  |  | 32,575 |  |  |  | 32,353 |  |  |  | — |  |  |  | 64,928 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 13,002 |  |  |  | 4,542 |  |  |  | — |  |  |  | 17,544 |
Other (income) expense |  |  | 112 |  |  |  | (191 | ) |  |  | (4 | ) |  |  | (83 | )
|  |  | 13,114 |  |  |  | 4,351 |  |  |  | (4 | ) |  |  | 17,461 |
INCOME BEFORE INCOME TAXES |  |  | 19,461 |  |  |  | 28,002 |  |  |  | 4 |  |  |  | 47,467 |
Income tax expense |  |  | (366 | ) |  |  | (794 | ) |  |  | — |  |  |  | (1,160 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 19,095 |  |  |  | 27,208 |  |  |  | 4 |  |  |  | 46,307 |
Income from equity in subsidiaries |  |  | 27,212 |  |  |  | — |  |  |  | (27,212 | ) |  |  | — |
NET INCOME |  | $ | 46,307 |  |  | $ | 27,208 |  |  | $ | (27,208 | ) |  | $ | 46,307 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2017 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 84,226 |  |  | $ | 7,265 |  |  | $ | — |  |  | $ | 91,491 |
Net cash used in investing activities |  |  | (13,642 | ) |  |  | (5,688 | ) |  |  | — |  |  |  | (19,330 | )
Net cash used in financing activities |  |  | (65,480 | ) |  |  | (1,228 | ) |  |  | — |  |  |  | (66,708 | )
Net increase (decrease) in cash and cash equivalents |  |  | 5,104 |  |  |  | 349 |  |  |  | — |  |  |  | 5,453 |
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 11,378 |  |  |  | 26,333 |  |  |  | — |  |  |  | 37,711 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 16,482 |  |  | $ | 26,682 |  |  | $ | — |  |  | $ | 43,164 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 117,248 |  |  | $ | 3,061 |  |  | $ | — |  |  | $ | 120,309 |
Net cash used in investing activities |  |  | (9,174 | ) |  |  | (5,043 | ) |  |  | — |  |  |  | (14,217 | )
Net cash used in financing activities |  |  | (113,751 | ) |  |  | (2,816 | ) |  |  | — |  |  |  | (116,567 | )
Net decrease in cash and cash equivalents |  |  | (5,677 | ) |  |  | (4,798 | ) |  |  | — |  |  |  | (10,475 | )
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 15,666 |  |  |  | 49,625 |  |  |  | — |  |  |  | 65,291 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 9,989 |  |  | $ | 44,827 |  |  | $ | — |  |  | $ | 54,816 |

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