v3.21.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net (loss) income $ (12,705) $ 72,013
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Gain and transaction costs recognized on sale of business 0 (111,611)
Depreciation and amortization of assets 32,123 30,886
Stock-based compensation 2,349 1,627
Amortization of debt issuance costs and discounts 1,607 1,798
Debt extinguishment and modification costs 2,580 1,523
Deferred income tax provision (benefit) (160) 6,695
Payment-in-kind interest (23,715)  
Payment-in-kind interest 0 6,643
Other non-cash items, net (39) 211
Change in operating assets and liabilities (net of acquisitions):    
Accounts receivable (10,847) (3,962)
Prepaid expenses and other current assets (1,947) (296)
Income taxes (receivable) payable (1,541) 6,026
Notes receivable (190) (398)
Accounts payable and other accrued liabilities 9,192 287
Customer deposits and advance payments 713 (1,479)
Other assets and liabilities, net 13 (512)
Net cash (used in) provided by operating activities (2,567) 10,431
Cash flows from investing activities:    
Acquisitions of businesses, net of cash acquired (407,129) 0
Proceeds from sale of business 0 179,416
Additions to property, equipment and software (7,530) (6,011)
Acquisitions of intangible assets (48,219) (4,415)
Net cash (used in) provided by investing activities (462,878) 168,990
Cash flows from financing activities:    
Proceeds from issuance of long-term debt, net of issue discount 607,318 0
Debt issuance and modification costs paid (9,073) (2,749)
Repayments of long-term debt (359,875) (109,505)
Borrowings under revolving credit facility 30,000 7,000
Repayments under revolving credit facility 0 (7,505)
Proceeds from issuance of senior preferred equity, net of issue discount 219,062 0
Senior preferred equity issuance fees and costs (8,098) 0
Redemption of redeemable non-controlling interest of subsidiary 0 (5,654)
Repurchases of common stock (1,023) 0
Dividends paid to redeemable senior preferred stockholders (4,015) 0
Profit distributions to redeemable non-controlling interests of subsidiaries (814) (45,348)
Proceeds from exercise of stock options 1,190 0
Settlement and customer accounts obligations, net 396,338 (7,295)
Net cash provided by (used in) financing activities 871,010 (171,056)
Net increase in cash and cash equivalents, and restricted cash 405,565 8,365
Cash and cash equivalents, and restricted cash at beginning of period 88,120 50,465
Cash and cash equivalents, and restricted cash at end of period 493,685 58,830
Supplemental cash flow information:    
Cash paid for interest 17,043 26,828
Non-cash investing and financing activities:    
Payment-in-kind interest added to principal of debt obligations 0 6,643
Payment of accrued contingent consideration for asset acquisition from offset of account receivable 0 1,686
Accruals for asset acquisition contingent consideration 6,833 0
Notes receivable from sellers used as partial consideration for acquisitions 3,499 0
Reconciliation of cash and cash equivalents, and restricted cash:    
Cash and cash equivalents 16,974 21,695
Restricted cash 17,258 37,135
Customer accounts balances 459,453 0
Total cash and cash equivalents, and restricted cash $ 493,685 $ 58,830

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