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UNAUDITED CONDENSED COMBINED/CONSOLIDATED STATEMENTS OF CASH FLOWS (Statement) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 38,232 $ 58,818
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 16,678 11,988
Amortization and write-off of deferred financing fees 1,551 4,279
Stock-based compensation 90,936 0
Loss on disposition of property and equipment 343 516
Loss on investment in partnership 4,288 0
Gain on other investments (476) 0
Deferred taxes (15,969) (7,253)
Noncash lease expense 15,185 9,093
Change in operating assets and liabilities    
Accounts receivable, net (62,770) (76,563)
Other receivables 1,863 (9,925)
Prepaid expenses and other current assets (18,286) 378
Other assets (1,021) (12,009)
Escrow funds (3,882) 2,130
Operating lease obligations (9,859) (1,320)
Accounts payable (17,203) 33,467
Accrued payroll and benefits 14,843 7,092
Accrued self-insurance liabilities 29,660 40,413
Other accrued expenses 5,492 (36,367)
Other liabilities 3,995 33,475
NET CASH PROVIDED BY OPERATING ACTIVITIES 93,600 58,212
Cash flows from investing activities    
Investment in partnership (5,081) 0
Non-operating distributions from investment in partnership 1,190 945
Purchase of investments (35,000) 0
Acquisition of facilities (174,650) (52,365)
Purchase of property and equipment (26,093) (16,591)
Cash proceeds from the sale of assets 0 750
NET CASH USED IN INVESTING ACTIVITIES (239,634) (67,261)
Cash flows from financing activities    
Borrowing on lines-of-credit, net of deferred financing fees 288,000 178,905
Payments on lines-of-credit (560,000) (222,002)
Dividends on common stock (33,721) (43,728)
Contributions from non-controlling interest 502 0
Borrowings of long-term debt, net of deferred financing fees 39,757 315,167
Payments on long-term debt (9,913) (236,969)
Proceeds from initial public offering, net of issuance costs 414,157 0
Taxes paid related to net share settlement of stock-based compensation awards (33,598) 0
NET CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES 105,184 (8,627)
Net change in cash (40,850) (17,676)
Cash, cash equivalents, and restricted cash - beginning of period 118,704 98,206
Cash, cash equivalents, and restricted cash - end of period 77,854 80,530
Supplemental disclosures of cash flow information    
Interest 25,550 28,004
Income taxes 43,455 16,540
Non-cash financing and investing activity    
Accrued capital expenditures 5,154 2,552
Assets acquired in operation expansions in exchange for notes payable    
Non-cash financing and investing activity    
Assets acquired in operation expansions 0 3,635
Assets acquired in operation expansions through settlement of notes receivable    
Non-cash financing and investing activity    
Assets acquired in operation expansions $ 500 $ 0

Source

10-Q PDF
XBRL