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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net income $ 99,938 $ 92,409
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,440 9,882
Non-cash compensation 18,451 12,653
401(k) employer match 7,545 6,934
Amortization and impairment of operating lease right of use assets 27,014 0
Loss on disposal of property and equipment 6 738
Deferred income taxes 17,798 14,916
Equity in earnings from equity method investments (4,120) (6,461)
Amortization of deferred debt issuance costs/debt discount 653 596
Return on equity investment 3,727 4,373
Changes in operating assets and liabilities, net of impact of acquisitions:    
Patient accounts receivable (39,469) 6,166
Other current assets (10,194) (32)
Other assets 202 726
Accounts payable (8,145) (670)
Accrued expenses 27,903 14,758
Other long-term obligations (231) 2,462
Operating lease liabilities (24,116) 0
Operating lease right of use assets (2,622) 0
Net cash provided by operating activities 126,780 159,450
Cash Flows from Investing Activities:    
Proceeds from sale of deferred compensation plan assets 287 563
Proceeds from the sale of property and equipment 158 51
Investments in equity method investees (210) (3,477)
Purchases of property and equipment (6,337) (5,684)
Acquisitions of businesses, net of cash acquired (345,460) (4,074)
Net cash used in investing activities (351,562) (12,621)
Cash Flows from Financing Activities:    
Proceeds from issuance of stock upon exercise of stock options 3,388 2,749
Proceeds from issuance of stock to employee stock purchase plan 2,384 1,787
Shares withheld upon stock vesting (9,385) (5,421)
Noncontrolling interest distribution (910) (530)
Proceeds from borrowings under term loan 175,000 0
Proceeds from borrowings under revolving line of credit 192,500 127,500
Repayments of borrowings under revolving line of credit (133,000) (70,000)
Principal payments of long-term obligations (3,820) (91,071)
Debt issuance costs (847) (2,433)
Purchase of company stock 0 (181,402)
Repurchase of noncontrolling interest 0 (361)
Net cash provided by (used in) financing activities 225,310 (219,182)
Net increase (decrease) in cash and cash equivalents 528 (72,353)
Cash and cash equivalents at beginning of period 20,229 86,363
Cash and cash equivalents at end of period 20,757 14,010
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 7,756 2,989
Cash paid for income taxes, net of refunds received $ 17,656 $ 11,017