XML 45 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net income $ 68,589us-gaap_ProfitLoss $ 63,660us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 13,612us-gaap_DepreciationDepletionAndAmortization 10,370us-gaap_DepreciationDepletionAndAmortization
Net change in fair value of contingent consideration liabilities 289us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 346us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
Stock-based compensation expense 7,836us-gaap_ShareBasedCompensation 8,071us-gaap_ShareBasedCompensation
Equity in earnings of unconsolidated affiliate (821)us-gaap_IncomeLossFromEquityMethodInvestments  
Distribution of earnings from unconsolidated affiliate 2,062md_DistributionsOfEarningsFromUnconsolidatedEntities  
Deferred income taxes 2,023us-gaap_DeferredIncomeTaxExpenseBenefit (387)us-gaap_DeferredIncomeTaxExpenseBenefit
Changes in assets and liabilities:    
Accounts receivable (8,683)us-gaap_IncreaseDecreaseInAccountsReceivable (30,292)us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses and other assets 1,999us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (1,480)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Other assets 705us-gaap_IncreaseDecreaseInOtherOperatingAssets 341us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable and accrued expenses (169,622)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (131,370)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Income taxes payable 19,552us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 26,076us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Payments of contingent consideration liabilities (34)md_PaymentOfContingentConsiderationLiabilityOperating (2,779)md_PaymentOfContingentConsiderationLiabilityOperating
Long-term professional liabilities 4,945us-gaap_MalpracticeLossContingencyPeriodIncreaseDecrease 6,419us-gaap_MalpracticeLossContingencyPeriodIncreaseDecrease
Other liabilities 3,864us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 1,203us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash used in operating activities (53,684)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (49,822)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:    
Acquisition payments, net of cash acquired (37,724)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (69,375)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Purchases of investments (3,719)us-gaap_PaymentsToAcquireInvestments (3,904)us-gaap_PaymentsToAcquireInvestments
Proceeds from sales or maturities of investments 3,265us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments 3,635us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments
Purchases of property and equipment (5,388)us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment (4,570)us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment
Net cash used in investing activities (43,566)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (74,214)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:    
Borrowings on credit facility 634,500us-gaap_ProceedsFromLinesOfCredit 371,500us-gaap_ProceedsFromLinesOfCredit
Payments on credit facility (306,500)us-gaap_RepaymentsOfLinesOfCredit (150,500)us-gaap_RepaymentsOfLinesOfCredit
Payments of contingent consideration liabilities (371)md_PaymentOfContingentConsiderationLiabilityFinancing (645)md_PaymentOfContingentConsiderationLiabilityFinancing
Payments on capital lease obligations (159)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations (25)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations
Excess tax benefit from exercises of stock options and vesting of restricted stock 1,076us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 1,935us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Proceeds from issuance of common stock 4,596us-gaap_ProceedsFromIssuanceOfCommonStock 7,398us-gaap_ProceedsFromIssuanceOfCommonStock
Repurchases of common stock (233,601)us-gaap_PaymentsForRepurchaseOfCommonStock (116,989)us-gaap_PaymentsForRepurchaseOfCommonStock
Net cash provided from financing activities 99,541us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 112,674us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net increase (decrease) in cash and cash equivalents 2,291us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (11,362)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 47,928us-gaap_CashAndCashEquivalentsAtCarryingValue 31,137us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period $ 50,219us-gaap_CashAndCashEquivalentsAtCarryingValue $ 19,775us-gaap_CashAndCashEquivalentsAtCarryingValue