XML 26 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities:    
Net income $ 53,357,000 $ 27,202,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,924,000 20,131,000
Equity in earnings of unconsolidated investments (651,000) (1,756,000)
Distributions from unconsolidated investments 512,000 469,000
Unrealized gains on marketable equity securities (23,523,000) (6,036,000)
Realized (gains)/losses on sale of marketable securities (350,000) 561,000
Gain on sale of unconsolidated company (1,024,000) 0
Deferred income taxes (6,041,000) (1,197,000)
Stock–based compensation 1,969,000 1,411,000
Changes in operating assets and liabilities:    
Accounts receivable (842,000) (1,274,000)
Inventories 754,000 93,000
Prepaid expenses and other assets 4,489,000 (13,000)
Operating lease obligations 120,000 (623,000)
Trade accounts payable 2,588,000 (2,438,000)
Accrued payroll (1,873,000) (5,181,000)
Amounts due to third party payors (151,000) (972,000)
Accrued risk reserves 5,995,000 3,751,000
Other current liabilities 1,300,000 9,786,000
Other noncurrent liabilities (8,328,000) 6,870,000
Net cash provided by operating activities 60,307,000 53,178,000
Cash Flows From Investing Activities:    
Purchases of property and equipment (13,788,000) (12,789,000)
Acquisition of skilled nursing facility 0 (2,700,000)
Proceeds from the sale of unconsolidated company 2,100,000 0
Investments in notes receivable (210,000) (403,000)
Investments in unconsolidated companies (4,856,000) 0
Purchases of marketable securities (18,898,000) (14,406,000)
Proceeds from sale of marketable securities 34,662,000 28,051,000
Net cash used in investing activities (990,000) (2,247,000)
Cash Flows From Financing Activities:    
Principal payments under finance lease obligations (860,000) (2,455,000)
Dividends paid to common stockholders (18,137,000) (17,481,000)
Issuance of common shares 11,239,000 6,000
Repurchase of common shares (11,402,000) (2,482,000)
Entrance fee refunds (520,000) (479,000)
Net cash used in financing activities (19,680,000) (22,891,000)
Net Increase in Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents 39,637,000 28,040,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning of Period 125,968,000 74,865,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, End of Period 165,605,000 102,905,000
Balance Sheet Classifications:    
Cash and cash equivalents 136,214,000 78,492,000
Restricted Cash and Cash Equivalents 29,391,000 24,413,000
Total Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents $ 165,605,000 $ 102,905,000