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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF THE COMPANY AND SUBSIDIARIES (Tables) | 6 Months Ended
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Jun. 30, 2017
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET As of June 30, 2017 (in thousands)
ASSETS |  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
Cash and cash equivalents |  | $ | 16,078 |  |  | $ | 30,506 |  |  | $ | — |  |  | $ | 46,584 |
Accounts receivable, net of allowance |  |  | 189,181 |  |  |  | 309,411 |  |  |  | (291,744 | ) |  |  | 206,848 |
Prepaid expenses and other current assets |  |  | 2,445 |  |  |  | 29,385 |  |  |  | (6,210 | ) |  |  | 25,620 |
Total current assets |  |  | 207,704 |  |  |  | 369,302 |  |  |  | (297,954 | ) |  |  | 279,052 |
Property and equipment, net |  |  | 2,477,862 |  |  |  | 328,216 |  |  |  | — |  |  |  | 2,806,078 |
Goodwill |  |  | 25,506 |  |  |  | 14,896 |  |  |  | — |  |  |  | 40,402 |
Non-current deferred tax assets |  |  | — |  |  |  | 12,096 |  |  |  | (559 | ) |  |  | 11,537 |
Other assets |  |  | 382,649 |  |  |  | 64,038 |  |  |  | (359,440 | ) |  |  | 87,247 |
Total assets |  | $ | 3,093,721 |  |  | $ | 788,548 |  |  | $ | (657,953 | ) |  | $ | 3,224,316 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 209,271 |  |  | $ | 332,658 |  |  | $ | (297,954 | ) |  | $ | 243,975 |
Income taxes payable |  |  | 1,370 |  |  |  | (517 | ) |  |  | — |  |  |  | 853 |
Current portion of long-term debt |  |  | 10,000 |  |  |  | — |  |  |  | — |  |  |  | 10,000 |
Total current liabilities |  |  | 220,641 |  |  |  | 332,141 |  |  |  | (297,954 | ) |  |  | 254,828 |
Long-term debt, net |  |  | 1,408,102 |  |  |  | 114,094 |  |  |  | (115,000 | ) |  |  | 1,407,196 |
Non-current deferred tax liabilities |  |  | 559 |  |  |  | — |  |  |  | (559 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 46,574 |  |  |  | — |  |  |  | 46,574 |
Other liabilities |  |  | 1,075 |  |  |  | 51,299 |  |  |  | — |  |  |  | 52,374 |
Total liabilities |  |  | 1,630,377 |  |  |  | 544,108 |  |  |  | (413,513 | ) |  |  | 1,760,972 |
Total stockholders’ equity |  |  | 1,463,344 |  |  |  | 244,440 |  |  |  | (244,440 | ) |  |  | 1,463,344 |
Total liabilities and stockholders’ equity |  | $ | 3,093,721 |  |  | $ | 788,548 |  |  | $ | (657,953 | ) |  | $ | 3,224,316 |
CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2016 (in thousands)
ASSETS |  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
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 June 30, 2017 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 287,900 |  |  | $ | 361,548 |  |  | $ | (213,055 | ) |  | $ | 436,393 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 221,293 |  |  |  | 299,659 |  |  |  | (213,055 | ) |  |  | 307,897 |
General and administrative |  |  | 8,471 |  |  |  | 17,946 |  |  |  | — |  |  |  | 26,417 |
Depreciation and amortization |  |  | 21,711 |  |  |  | 15,089 |  |  |  | — |  |  |  | 36,800 |
|  |  | 251,475 |  |  |  | 332,694 |  |  |  | (213,055 | ) |  |  | 371,114 |
OPERATING INCOME |  |  | 36,425 |  |  |  | 28,854 |  |  |  | — |  |  |  | 65,279 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 13,737 |  |  |  | 2,885 |  |  |  | — |  |  |  | 16,622 |
Other (income) expense |  |  | (123 | ) |  |  | 52 |  |  |  | 11 |  |  |  | (60 | )
|  |  | 13,614 |  |  |  | 2,937 |  |  |  | 11 |  |  |  | 16,562 |
INCOME BEFORE INCOME TAXES |  |  | 22,811 |  |  |  | 25,917 |  |  |  | (11 | ) |  |  | 48,717 |
Income tax expense |  |  | (450 | ) |  |  | (2,792 | ) |  |  | — |  |  |  | (3,242 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 22,361 |  |  |  | 23,125 |  |  |  | (11 | ) |  |  | 45,475 |
Income from equity in subsidiaries |  |  | 23,114 |  |  |  | — |  |  |  | (23,114 | ) |  |  | — |
NET INCOME |  | $ | 45,475 |  |  | $ | 23,125 |  |  | $ | (23,125 | ) |  | $ | 45,475 |
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 six months ended June 30, 2017 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 587,415 |  |  | $ | 726,298 |  |  | $ | (431,636 | ) |  | $ | 882,077 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 447,930 |  |  |  | 606,906 |  |  |  | (431,636 | ) |  |  | 623,200 |
General and administrative |  |  | 16,807 |  |  |  | 34,436 |  |  |  | — |  |  |  | 51,243 |
Depreciation and amortization |  |  | 43,059 |  |  |  | 29,998 |  |  |  | — |  |  |  | 73,057 |
Asset impairments |  |  | — |  |  |  | 259 |  |  |  | — |  |  |  | 259 |
|  |  | 507,796 |  |  |  | 671,599 |  |  |  | (431,636 | ) |  |  | 747,759 |
OPERATING INCOME |  |  | 79,619 |  |  |  | 54,699 |  |  |  | — |  |  |  | 134,318 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 27,173 |  |  |  | 5,939 |  |  |  | — |  |  |  | 33,112 |
Other (income) expense |  |  | (152 | ) |  |  | 88 |  |  |  | 21 |  |  |  | (43 | )
|  |  | 27,021 |  |  |  | 6,027 |  |  |  | 21 |  |  |  | 33,069 |
INCOME BEFORE INCOME TAXES |  |  | 52,598 |  |  |  | 48,672 |  |  |  | (21 | ) |  |  | 101,249 |
Income tax expense |  |  | (1,170 | ) |  |  | (4,557 | ) |  |  | — |  |  |  | (5,727 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 51,428 |  |  |  | 44,115 |  |  |  | (21 | ) |  |  | 95,522 |
Income from equity in subsidiaries |  |  | 44,094 |  |  |  | — |  |  |  | (44,094 | ) |  |  | — |
NET INCOME |  | $ | 95,522 |  |  | $ | 44,115 |  |  | $ | (44,115 | ) |  | $ | 95,522 |
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 CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 2017 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 168,002 |  |  | $ | 14,781 |  |  | $ | — |  |  | $ | 182,783 |
Net cash used in investing activities |  |  | (32,647 | ) |  |  | (10,544 | ) |  |  | — |  |  |  | (43,191 | )
Net cash used in financing activities |  |  | (130,655 | ) |  |  | (64 | ) |  |  | — |  |  |  | (130,719 | )
Net increase in cash and cash equivalents |  |  | 4,700 |  |  |  | 4,173 |  |  |  | — |  |  |  | 8,873 |
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 11,378 |  |  |  | 26,333 |  |  |  | — |  |  |  | 37,711 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 16,078 |  |  | $ | 30,506 |  |  | $ | — |  |  |  | 46,584 |
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 |

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