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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF THE COMPANY AND SUBSIDIARIES (Tables) | 9 Months Ended
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Sep. 30, 2018
CONDENSED CONSOLIDATING BALANCE SHEET (Unaudited) | CONDENSED CONSOLIDATING BALANCE SHEET As of September 30, 2018 (Unaudited and in thousands)
ASSETS |  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
Cash and cash equivalents |  | $ | 68,599 |  |  | $ | 24,664 |  |  | $ | 362 |  |  | $ | — |  |  | $ | 93,625 |
Restricted cash |  |  | — |  |  |  | — |  |  |  | 11,103 |  |  |  | — |  |  |  | 11,103 |
Accounts receivable, net of allowance |  |  | 143,538 |  |  |  | 449,928 |  |  |  | 2,802 |  |  |  | (362,106 | ) |  |  | 234,162 |
Prepaid expenses and other current assets |  |  | 2,929 |  |  |  | 27,498 |  |  |  | 2,943 |  |  |  | (5,405 | ) |  |  | 27,965 |
Total current assets |  |  | 215,066 |  |  |  | 502,090 |  |  |  | 17,210 |  |  |  | (367,511 | ) |  |  | 366,855 |
Property and equipment, net |  |  | 2,470,164 |  |  |  | 314,981 |  |  |  | 238,818 |  |  |  | — |  |  |  | 3,023,963 |
Goodwill |  |  | 33,057 |  |  |  | 10,939 |  |  |  | — |  |  |  | — |  |  |  | 43,996 |
Non-current deferred tax assets |  |  | — |  |  |  | 14,780 |  |  |  | — |  |  |  | (471 | ) |  |  | 14,309 |
Other assets |  |  | 608,586 |  |  |  | 51,269 |  |  |  | 38,669 |  |  |  | (563,615 | ) |  |  | 134,909 |
Total assets |  | $ | 3,326,873 |  |  | $ | 894,059 |  |  | $ | 294,697 |  |  | $ | (931,597 | ) |  | $ | 3,584,032 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 312,080 |  |  | $ | 352,062 |  |  | $ | 11,023 |  |  | $ | (367,476 | ) |  | $ | 307,689 |
Income taxes payable |  |  | 321 |  |  |  | 1,054 |  |  |  | — |  |  |  | — |  |  |  | 1,375 |
Current portion of long-term debt |  |  | 7,456 |  |  |  | — |  |  |  | 5,339 |  |  |  | — |  |  |  | 12,795 |
Total current liabilities |  |  | 319,857 |  |  |  | 353,116 |  |  |  | 16,362 |  |  |  | (367,476 | ) |  |  | 321,859 |
Long-term debt, net |  |  | 1,569,543 |  |  |  | 114,373 |  |  |  | 183,269 |  |  |  | (115,000 | ) |  |  | 1,752,185 |
Non-current deferred tax liabilities |  |  | 471 |  |  |  | — |  |  |  | — |  |  |  | (471 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 29,510 |  |  |  | — |  |  |  | — |  |  |  | 29,510 |
Other liabilities |  |  | 14,927 |  |  |  | 43,476 |  |  |  | — |  |  |  | — |  |  |  | 58,403 |
Total liabilities |  |  | 1,904,798 |  |  |  | 540,475 |  |  |  | 199,631 |  |  |  | (482,947 | ) |  |  | 2,161,957 |
Total stockholders' equity |  |  | 1,422,075 |  |  |  | 353,584 |  |  |  | 95,066 |  |  |  | (448,650 | ) |  |  | 1,422,075 |
Total liabilities and stockholders' equity |  | $ | 3,326,873 |  |  | $ | 894,059 |  |  | $ | 294,697 |  |  | $ | (931,597 | ) |  | $ | 3,584,032 |
CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2017 (in thousands)
ASSETS |  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
Cash and cash equivalents |  | $ | 25,745 |  |  | $ | 26,438 |  |  | $ | — |  |  | $ | 52,183 |
Accounts receivable, net of allowance |  |  | 211,673 |  |  |  | 372,755 |  |  |  | (330,240 | ) |  |  | 254,188 |
Prepaid expenses and other current assets |  |  | 1,835 |  |  |  | 24,986 |  |  |  | (5,702 | ) |  |  | 21,119 |
Total current assets |  |  | 239,253 |  |  |  | 424,179 |  |  |  | (335,942 | ) |  |  | 327,490 |
Property and equipment, net |  |  | 2,467,166 |  |  |  | 335,283 |  |  |  | — |  |  |  | 2,802,449 |
Goodwill |  |  | 26,031 |  |  |  | 14,896 |  |  |  | — |  |  |  | 40,927 |
Non-current deferred tax assets |  |  | — |  |  |  | 13,193 |  |  |  | (379 | ) |  |  | 12,814 |
Other assets |  |  | 421,474 |  |  |  | 69,117 |  |  |  | (401,873 | ) |  |  | 88,718 |
Total assets |  | $ | 3,153,924 |  |  | $ | 856,668 |  |  | $ | (738,194 | ) |  | $ | 3,272,398 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 251,011 |  |  | $ | 362,701 |  |  | $ | (335,908 | ) |  | $ | 277,804 |
Income taxes payable |  |  | 1,443 |  |  |  | 1,591 |  |  |  | — |  |  |  | 3,034 |
Current portion of long-term debt |  |  | 10,000 |  |  |  | — |  |  |  | — |  |  |  | 10,000 |
Total current liabilities |  |  | 262,454 |  |  |  | 364,292 |  |  |  | (335,908 | ) |  |  | 290,838 |
Long-term debt, net |  |  | 1,437,982 |  |  |  | 114,205 |  |  |  | (115,000 | ) |  |  | 1,437,187 |
Non-current deferred tax liabilities |  |  | 379 |  |  |  | — |  |  |  | (379 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 39,735 |  |  |  | — |  |  |  | 39,735 |
Other liabilities |  |  | 1,501 |  |  |  | 51,529 |  |  |  | — |  |  |  | 53,030 |
Total liabilities |  |  | 1,702,316 |  |  |  | 569,761 |  |  |  | (451,287 | ) |  |  | 1,820,790 |
Total stockholders' equity |  |  | 1,451,608 |  |  |  | 286,907 |  |  |  | (286,907 | ) |  |  | 1,451,608 |
Total liabilities and stockholders' equity |  | $ | 3,153,924 |  |  | $ | 856,668 |  |  | $ | (738,194 | ) |  | $ | 3,272,398 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (Unaudited) | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended September 30, 2018 (Unaudited and in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 322,872 |  |  | $ | 381,594 |  |  | $ | 2,497 |  |  | $ | (244,235 | ) |  | $ | 462,728 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 253,267 |  |  |  | 323,765 |  |  |  | 962 |  |  |  | (244,235 | ) |  |  | 333,759 |
General and administrative |  |  | 8,686 |  |  |  | 16,399 |  |  |  | — |  |  |  | — |  |  |  | 25,085 |
Depreciation and amortization |  |  | 23,475 |  |  |  | 15,349 |  |  |  | 641 |  |  |  | — |  |  |  | 39,465 |
|  |  | 285,428 |  |  |  | 355,513 |  |  |  | 1,603 |  |  |  | (244,235 | ) |  |  | 398,309 |
OPERATING INCOME |  |  | 37,444 |  |  |  | 26,081 |  |  |  | 894 |  |  |  | — |  |  |  | 64,419 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 16,962 |  |  |  | 2,825 |  |  |  | 747 |  |  |  | — |  |  |  | 20,534 |
Other (income) expense |  |  | 42 |  |  |  | (20 | ) |  |  | 27 |  |  |  | — |  |  |  | 49 |
|  |  | 17,004 |  |  |  | 2,805 |  |  |  | 774 |  |  |  | — |  |  |  | 20,583 |
INCOME BEFORE INCOME TAXES |  |  | 20,440 |  |  |  | 23,276 |  |  |  | 120 |  |  |  | — |  |  |  | 43,836 |
Income tax expense |  |  | (332 | ) |  |  | (2,510 | ) |  |  | — |  |  |  | — |  |  |  | (2,842 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 20,108 |  |  |  | 20,766 |  |  |  | 120 |  |  |  | — |  |  |  | 40,994 |
Income from equity in subsidiaries |  |  | 20,886 |  |  |  | — |  |  |  | — |  |  |  | (20,886 | ) |  |  | — |
NET INCOME |  | $ | 40,994 |  |  | $ | 20,766 |  |  | $ | 120 |  |  | $ | (20,886 | ) |  | $ | 40,994 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the three months ended September 30, 2017 (Unaudited and 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 nine months ended September 30, 2018 (Unaudited and in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 944,064 |  |  | $ | 1,119,524 |  |  | $ | 2,497 |  |  | $ | (712,512 | ) |  | $ | 1,353,573 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 739,305 |  |  |  | 945,694 |  |  |  | 962 |  |  |  | (712,512 | ) |  |  | 973,449 |
General and administrative |  |  | 26,618 |  |  |  | 50,976 |  |  |  | — |  |  |  | — |  |  |  | 77,594 |
Depreciation and amortization |  |  | 68,921 |  |  |  | 46,552 |  |  |  | 641 |  |  |  | — |  |  |  | 116,114 |
Asset impairments |  |  | 1,580 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,580 |
|  |  | 836,424 |  |  |  | 1,043,222 |  |  |  | 1,603 |  |  |  | (712,512 | ) |  |  | 1,168,737 |
OPERATING INCOME |  |  | 107,640 |  |  |  | 76,302 |  |  |  | 894 |  |  |  | — |  |  |  | 184,836 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 49,705 |  |  |  | 8,156 |  |  |  | 747 |  |  |  | — |  |  |  | 58,608 |
Expenses associated with debt refinancing transactions |  |  | 1,016 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,016 |
Other (income) expense |  |  | 62 |  |  |  | (107 | ) |  |  | 84 |  |  |  | — |  |  |  | 39 |
|  |  | 50,783 |  |  |  | 8,049 |  |  |  | 831 |  |  |  | — |  |  |  | 59,663 |
INCOME BEFORE INCOME TAXES |  |  | 56,857 |  |  |  | 68,253 |  |  |  | 63 |  |  |  | — |  |  |  | 125,173 |
Income tax expense |  |  | (1,097 | ) |  |  | (6,108 | ) |  |  | — |  |  |  | — |  |  |  | (7,205 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 55,760 |  |  |  | 62,145 |  |  |  | 63 |  |  |  | — |  |  |  | 117,968 |
Income from equity in subsidiaries |  |  | 62,208 |  |  |  | — |  |  |  | — |  |  |  | (62,208 | ) |  |  | — |
NET INCOME |  | $ | 117,968 |  |  | $ | 62,145 |  |  | $ | 63 |  |  | $ | (62,208 | ) |  | $ | 117,968 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the nine months ended September 30, 2017 (Unaudited and 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 CASH FLOWS (Unaudited) | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2018 (Unaudited and in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 255,765 |  |  | $ | 19,472 |  |  | $ | 9,334 |  |  | $ | — |  |  | $ | 284,571 |
Net cash used in investing activities |  |  | (178,280 | ) |  |  | (23,098 | ) |  |  | (124,178 | ) |  |  | 94,920 |  |  |  | (230,636 | )
Net cash provided by (used in) financing activities |  |  | (34,631 | ) |  |  | 1,852 |  |  |  | 126,309 |  |  |  | (94,920 | ) |  |  | (1,390 | )
Net increase (decrease) in cash, cash equivalents and restricted cash |  |  | 42,854 |  |  |  | (1,774 | ) |  |  | 11,465 |  |  |  | — |  |  |  | 52,545 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period |  |  | 25,745 |  |  |  | 26,438 |  |  |  | — |  |  |  | — |  |  |  | 52,183 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period |  | $ | 68,599 |  |  | $ | 24,664 |  |  | $ | 11,465 |  |  | $ | — |  |  |  | 104,728 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2017 (Unaudited and 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, cash equivalents and restricted cash |  |  | 8,744 |  |  |  | (3,720 | ) |  |  | — |  |  |  | 5,024 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period |  |  | 11,378 |  |  |  | 26,333 |  |  |  | — |  |  |  | 37,711 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period |  | $ | 20,122 |  |  | $ | 22,613 |  |  | $ | — |  |  | $ | 42,735 |

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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