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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF THE COMPANY AND SUBSIDIARIES (Tables) | 9 Months Ended
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Sep. 30, 2017
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET As of September 30, 2017 (in thousands)
ASSETS |  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
Cash and cash equivalents |  | $ | 20,122 |  |  | $ | 22,613 |  |  | $ | — |  |  | $ | 42,735 |
Accounts receivable, net of allowance |  |  | 190,866 |  |  |  | 347,066 |  |  |  | (296,789 | ) |  |  | 241,143 |
Prepaid expenses and other current assets |  |  | 2,583 |  |  |  | 23,597 |  |  |  | (6,002 | ) |  |  | 20,178 |
Total current assets |  |  | 213,571 |  |  |  | 393,276 |  |  |  | (302,791 | ) |  |  | 304,056 |
Property and equipment, net |  |  | 2,477,110 |  |  |  | 322,366 |  |  |  | — |  |  |  | 2,799,476 |
Goodwill |  |  | 23,832 |  |  |  | 14,896 |  |  |  | — |  |  |  | 38,728 |
Non-current deferred tax assets |  |  | — |  |  |  | 15,955 |  |  |  | (495 | ) |  |  | 15,460 |
Other assets |  |  | 405,683 |  |  |  | 64,472 |  |  |  | (385,109 | ) |  |  | 85,046 |
Total assets |  | $ | 3,120,196 |  |  | $ | 810,965 |  |  | $ | (688,395 | ) |  | $ | 3,242,766 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 235,716 |  |  | $ | 333,480 |  |  | $ | (302,791 | ) |  | $ | 266,405 |
Income taxes payable |  |  | 1,945 |  |  |  | (777 | ) |  |  | — |  |  |  | 1,168 |
Current portion of long-term debt |  |  | 10,000 |  |  |  | — |  |  |  | — |  |  |  | 10,000 |
Total current liabilities |  |  | 247,661 |  |  |  | 332,703 |  |  |  | (302,791 | ) |  |  | 277,573 |
Long-term debt, net |  |  | 1,412,060 |  |  |  | 114,150 |  |  |  | (115,000 | ) |  |  | 1,411,210 |
Non-current deferred tax liabilities |  |  | 495 |  |  |  | — |  |  |  | (495 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 43,143 |  |  |  | — |  |  |  | 43,143 |
Other liabilities |  |  | 1,299 |  |  |  | 50,860 |  |  |  | — |  |  |  | 52,159 |
Total liabilities |  |  | 1,661,515 |  |  |  | 540,856 |  |  |  | (418,286 | ) |  |  | 1,784,085 |
Total stockholders' equity |  |  | 1,458,681 |  |  |  | 270,109 |  |  |  | (270,109 | ) |  |  | 1,458,681 |
Total liabilities and stockholders' equity |  | $ | 3,120,196 |  |  | $ | 810,965 |  |  | $ | (688,395 | ) |  | $ | 3,242,766 |
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 September 30, 2017 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 297,856 |  |  | $ | 368,507 |  |  | $ | (223,518 | ) |  | $ | 442,845 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 231,528 |  |  |  | 308,855 |  |  |  | (223,518 | ) |  |  | 316,865 |
General and administrative |  |  | 9,823 |  |  |  | 18,480 |  |  |  | — |  |  |  | 28,303 |
Depreciation and amortization |  |  | 22,147 |  |  |  | 14,360 |  |  |  | — |  |  |  | 36,507 |
Asset impairments |  |  | 300 |  |  |  | 55 |  |  |  | — |  |  |  | 355 |
|  |  | 263,798 |  |  |  | 341,750 |  |  |  | (223,518 | ) |  |  | 382,030 |
OPERATING INCOME |  |  | 34,058 |  |  |  | 26,757 |  |  |  | — |  |  |  | 60,815 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 14,046 |  |  |  | 2,983 |  |  |  | — |  |  |  | 17,029 |
Other (income) expense |  |  | (96 | ) |  |  | 21 |  |  |  | 10 |  |  |  | (65 | )
|  |  | 13,950 |  |  |  | 3,004 |  |  |  | 10 |  |  |  | 16,964 |
INCOME BEFORE INCOME TAXES |  |  | 20,108 |  |  |  | 23,753 |  |  |  | (10 | ) |  |  | 43,851 |
Income tax expense |  |  | (541 | ) |  |  | (2,132 | ) |  |  | — |  |  |  | (2,673 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 19,567 |  |  |  | 21,621 |  |  |  | (10 | ) |  |  | 41,178 |
Income from equity in subsidiaries |  |  | 21,611 |  |  |  | — |  |  |  | (21,611 | ) |  |  | — |
NET INCOME |  | $ | 41,178 |  |  | $ | 21,621 |  |  | $ | (21,621 | ) |  | $ | 41,178 |
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 nine months ended September 30, 2017 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 885,271 |  |  | $ | 1,094,805 |  |  | $ | (655,154 | ) |  | $ | 1,324,922 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 679,458 |  |  |  | 915,761 |  |  |  | (655,154 | ) |  |  | 940,065 |
General and administrative |  |  | 26,630 |  |  |  | 52,916 |  |  |  | — |  |  |  | 79,546 |
Depreciation and amortization |  |  | 65,206 |  |  |  | 44,358 |  |  |  | — |  |  |  | 109,564 |
Asset impairments |  |  | 300 |  |  |  | 314 |  |  |  | — |  |  |  | 614 |
|  |  | 771,594 |  |  |  | 1,013,349 |  |  |  | (655,154 | ) |  |  | 1,129,789 |
OPERATING INCOME |  |  | 113,677 |  |  |  | 81,456 |  |  |  | — |  |  |  | 195,133 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 41,219 |  |  |  | 8,922 |  |  |  | — |  |  |  | 50,141 |
Other (income) expense |  |  | (248 | ) |  |  | 109 |  |  |  | 31 |  |  |  | (108 | )
|  |  | 40,971 |  |  |  | 9,031 |  |  |  | 31 |  |  |  | 50,033 |
INCOME BEFORE INCOME TAXES |  |  | 72,706 |  |  |  | 72,425 |  |  |  | (31 | ) |  |  | 145,100 |
Income tax expense |  |  | (1,711 | ) |  |  | (6,689 | ) |  |  | — |  |  |  | (8,400 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 70,995 |  |  |  | 65,736 |  |  |  | (31 | ) |  |  | 136,700 |
Income from equity in subsidiaries |  |  | 65,705 |  |  |  | — |  |  |  | (65,705 | ) |  |  | — |
NET INCOME |  | $ | 136,700 |  |  | $ | 65,736 |  |  | $ | (65,736 | ) |  | $ | 136,700 |
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 CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2017 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 239,662 |  |  | $ | 24,473 |  |  | $ | — |  |  | $ | 264,135 |
Net cash used in investing activities |  |  | (50,216 | ) |  |  | (31,544 | ) |  |  | — |  |  |  | (81,760 | )
Net cash provided by (used in) financing activities |  |  | (180,702 | ) |  |  | 3,351 |  |  |  | — |  |  |  | (177,351 | )
Net increase (decrease) in cash and cash equivalents |  |  | 8,744 |  |  |  | (3,720 | ) |  |  | — |  |  |  | 5,024 |
CASH AND CASH EQUIVALENTS, beginning of period |  |  | 11,378 |  |  |  | 26,333 |  |  |  | — |  |  |  | 37,711 |
CASH AND CASH EQUIVALENTS, end of period |  | $ | 20,122 |  |  | $ | 22,613 |  |  | $ | — |  |  |  | 42,735 |
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 |

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