XML 52 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
OPERATING ACTIVITIES    
Net income including non-controlling interests $ 6,151us-gaap_ProfitLoss $ 6,323us-gaap_ProfitLoss
Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities:    
Depreciation and amortization 1,807us-gaap_DepreciationDepletionAndAmortization 1,387us-gaap_DepreciationDepletionAndAmortization
Provision for doubtful accounts 991usph_ProvisionForDoubtfulAccountsOfContinuingAndDiscontinuedOperations 950usph_ProvisionForDoubtfulAccountsOfContinuingAndDiscontinuedOperations
Equity-based awards compensation expense 990us-gaap_ShareBasedCompensation 735us-gaap_ShareBasedCompensation
Loss on sale of business and sale or abandonment of assets, net 17usph_GainLossOnSaleOfBusinessAndSaleOrAbandonmentOfAssetsNet 19usph_GainLossOnSaleOfBusinessAndSaleOrAbandonmentOfAssetsNet
Excess tax benefit from shared-based compensation (271)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (126)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Deferred income tax 565us-gaap_DeferredIncomeTaxExpenseBenefit 1,580us-gaap_DeferredIncomeTaxExpenseBenefit
Write-off of goodwill - closed clinic 34usph_GoodwillWrittenOff 0usph_GoodwillWrittenOff
Changes in operating assets and liabilities:    
Increase in patient accounts receivable (2,185)usph_IncreaseDecreaseInPatientAccountsReceivable (3,002)usph_IncreaseDecreaseInPatientAccountsReceivable
Decrease in accounts receivable - other 125us-gaap_IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets 146us-gaap_IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
Decrease in other assets 106us-gaap_IncreaseDecreaseInOtherOperatingAssets 735us-gaap_IncreaseDecreaseInOtherOperatingAssets
(Decrease) in accounts payable and accrued expenses (5,976)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (5,241)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Increase in other Long term liabilities 665us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 184us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash provided by operating activities 3,019us-gaap_NetCashProvidedByUsedInOperatingActivities 3,690us-gaap_NetCashProvidedByUsedInOperatingActivities
INVESTING ACTIVITIES    
Purchase of fixed assets (1,419)us-gaap_PaymentsToAcquireProductiveAssets (849)us-gaap_PaymentsToAcquireProductiveAssets
Purchase of businesses, net of cash acquired (6,445)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (125)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Acquisitions of non-controlling interests (359)usph_AcquisitionsOfNoncontrollingInterests (2,833)usph_AcquisitionsOfNoncontrollingInterests
Proceeds on sale of business and fixed assets, net 8us-gaap_ProceedsFromSaleOfProductiveAssets 16us-gaap_ProceedsFromSaleOfProductiveAssets
Net cash used in investing activities (8,215)us-gaap_NetCashProvidedByUsedInInvestingActivities (3,791)us-gaap_NetCashProvidedByUsedInInvestingActivities
FINANCING ACTIVITIES    
Distributions to non-controlling interests (including redeemable non-controlling interests) (1,589)us-gaap_PaymentsOfDividendsMinorityInterest (1,413)us-gaap_PaymentsOfDividendsMinorityInterest
Proceeds from revolving line of credit 34,000us-gaap_ProceedsFromLinesOfCredit 29,000us-gaap_ProceedsFromLinesOfCredit
Payments on revolving line of credit (27,000)us-gaap_RepaymentsOfLinesOfCredit (23,500)us-gaap_RepaymentsOfLinesOfCredit
Payment of notes payable (200)us-gaap_RepaymentsOfNotesPayable (250)us-gaap_RepaymentsOfNotesPayable
Tax benefit from share-based compensation 271us-gaap_DeferredTaxExpenseFromStockOptionsExercised 126us-gaap_DeferredTaxExpenseFromStockOptionsExercised
Other 0us-gaap_ProceedsFromPaymentsForOtherFinancingActivities 1us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash provided by financing activities 5,482us-gaap_NetCashProvidedByUsedInFinancingActivities 3,964us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase in cash and cash equivalents 286us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 3,863us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents - beginning of period 14,271us-gaap_CashAndCashEquivalentsAtCarryingValue 12,898us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash - end of period 14,557us-gaap_CashAndCashEquivalentsAtCarryingValue 16,761us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid during the period for:    
Income taxes 1,275us-gaap_IncomeTaxesPaidNet 242us-gaap_IncomeTaxesPaidNet
Interest 235us-gaap_InterestPaidNet 345us-gaap_InterestPaidNet
Non-cash investing and financing transactions during the period:    
Purchase of business - seller financing portion 500usph_PurchaseOfBusinessSellerFinancingPortion 0usph_PurchaseOfBusinessSellerFinancingPortion
Revaluation of redeemable non-controlling interests $ 0usph_RevaluationOfRedeemableNonControllingInterests $ 1,639usph_RevaluationOfRedeemableNonControllingInterests