XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities    
Net income $ 58,095 $ 52,253
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,227 17,912
Equity in net income of unconsolidated affiliates (9,579) (4,590)
Deferred income taxes 17,074 13,197
Stock-based compensation 5,800 13,547
Adjustment to tax receivable agreement liability (5,722) (4,818)
Loss on disposal of long-lived assets 1,518 0
Changes in operating assets and liabilities:    
Accounts receivable, prepaid expenses and other current assets (8,119) (20,139)
Other assets (1,112) (12,286)
Inventories (827) 1,169
Accounts payable, accrued expenses and other current liabilities (38,463) (32,710)
Long-term liabilities 322 (281)
Other operating activities (387) (535)
Net cash provided by operating activities 41,827 22,719
Investing activities    
Purchase of marketable securities 0 (19,211)
Proceeds from sale of marketable securities 48,013 307,734
Acquisition of Acro Pharmaceutical Services LLC and Community Pharmacy Services, LLC, net of cash acquired (68,745) 0
Acquisition of CECity.com, Inc., net of cash acquired 0 (398,261)
Acquisition of Healthcare Insights, LLC, net of cash acquired 0 (64,634)
Investment in unconsolidated affiliates (65,660) (1,000)
Distributions received on equity investment 6,550 5,450
Purchases of property and equipment (16,966) (17,141)
Other investing activities 5 434
Net cash used in investing activities (96,803) (186,629)
Financing activities    
Payments made on notes payable (218) (330)
Proceeds from credit facility 0 150,000
Proceeds from exercise of stock options under equity incentive plan 2,317 197
Repurchase of vested restricted units for employee tax-withholding (17,435) (38)
Distributions to limited partners of Premier LP (22,493) (22,432)
Other financing activities 0 (174)
Net cash (used in) provided by financing activities (37,829) 127,223
Net decrease in cash and cash equivalents (92,805) (36,687)
Cash and cash equivalents at beginning of year 248,817 146,522
Cash and cash equivalents at end of year 156,012 109,835
Supplemental schedule of non cash investing and financing activities:    
Decrease in redeemable limited partners' capital for adjustment to fair value, with offsetting decrease in additional paid-in-capital and accumulated deficit (61,808) (466,801)
Reduction in redeemable limited partners' capital, with offsetting increase in common stock and additional paid-in capital related to quarterly exchange by member owners (43,072) (3,268)
Reduction in redeemable limited partners' capital for limited partners' distribution payable 22,137 23,028
Distributions utilized to reduce subscriptions, notes, interest and accounts receivable from member owners 558 1,613
Increase in deferred tax assets related to quarterly exchange by member owners 16,863 1,415
Increase in tax receivable agreement liability related to quarterly exchange by member owners 10,286 1,013
Increase in additional paid-in capital related to quarterly exchange by member owners 6,577 879
Reduction in deferred tax assets related to departed member owners 0 312
Payable to member owners incurred upon repurchase of ownership interest 0 373
Reduction in tax receivable agreement liability related to departed member owners $ 0 $ 789