XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.3
UNAUDITED CONDENSED COMBINED/CONSOLIDATED STATEMENTS OF CASH FLOWS (Statement) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 19,153 $ 78,745
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 27,893 18,350
Amortization and write-off of deferred financing fees 2,333 4,831
Stock-based compensation 103,240 0
Loss on investment in partnership 3,572 7
Gain on insurance subsidiary deposits and investments (2,200) 0
Deferred taxes (45,250) (9,136)
Noncash lease expense 22,973 15,888
Other noncash operating activities, net 843 447
Change in operating assets and liabilities    
Accounts receivable, net (26,835) (116,603)
Other receivables 2,934 (17,413)
Prepaid expenses and other current assets (5,112) (12,264)
Other assets (14,879) (15,962)
Escrow funds (7,935) (68)
Operating lease liabilities (20,913) (1,529)
Accounts payable 10,339 16,832
Accrued payroll and benefits 61,651 30,725
Accrued self-insurance liabilities 48,593 50,200
Refund liability 83,987 0
Other accrued expenses 37,294 (25,975)
Other liabilities 1,070 56,323
NET CASH PROVIDED BY OPERATING ACTIVITIES 302,751 73,398
Cash flows from investing activities    
Investment in partnerships (30,426) 0
Non-operating distributions from investment in partnership 2,216 1,391
Purchase of available-for-sale securities (45,000) 0
Acquisition of facilities (224,761) (84,435)
Purchase of property and equipment (41,874) (30,550)
Proceeds from the sale of assets 1,500 750
NET CASH USED IN INVESTING ACTIVITIES (338,345) (112,844)
Cash flows from financing activities    
Borrowing on lines of credit, net of deferred financing fees 402,000 262,065
Payments on lines of credit (922,000) (275,012)
Borrowings of long-term debt, net of deferred financing fees 70,116 397,152
Payments on long-term debt (13,839) (284,402)
Contributions from noncontrolling interest 502 587
Dividends on common stock (33,721) (68,993)
Proceeds from initial public offering, net of issuance costs 414,157 0
Proceeds from common stock offering, net of issuance costs 95,285 0
Taxes paid related to net share settlement of stock-based compensation awards (33,598) 0
NET CASH (USED IN)/PROVIDED BY FINANCING ACTIVITIES (21,098) 31,397
Net change in cash (56,692) (8,049)
Cash, cash equivalents, and restricted cash - beginning of period 118,704 98,206
Cash, cash equivalents, and restricted cash - end of period 62,012 90,157
Supplemental disclosures of cash flow information    
Interest 39,346 35,390
Income taxes 77,540 51,842
Non-cash financing and investing activity    
Accrued capital expenditures 6,458 4,466
Assets acquired in operation expansions $ 500 $ 0