Financial Information for the Company and Its Subsidiaries | 9 Months Ended |
Sep. 30, 2013 |
Text Block [Abstract] | |
Financial Information for the Company and Its Subsidiaries | 14. Financial Information for the Company and Its Subsidiaries |
The Company conducts substantially all of its business through its subsidiaries. Presented below is consolidating financial information for the Company and its subsidiaries as of September 30, 2013 and December 31, 2012, and for the three and nine months ended September 30, 2013 and 2012. The information segregates the parent company (Acadia Healthcare Company, Inc.), the combined wholly-owned subsidiary guarantors, the combined non-guarantor subsidiaries and eliminations. All of the subsidiary guarantees are full and unconditional and joint and several. |
Acadia Healthcare Company, Inc. |
Condensed Consolidating Balance Sheets |
September 30, 2013 |
(In thousands) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Combined | | | Combined | | | Consolidating | | | Total | |
Subsidiary | Subsidiary | Adjustments | Consolidated |
Guarantors | Non- | | Amounts |
| Guarantors | | |
Current assets: | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | — | | | $ | 5,350 | | | $ | (1,316 | ) | | $ | 4,034 | |
Accounts receivable, net | | | — | | | | 85,376 | | | | 7,935 | | | | — | | | | 93,311 | |
Deferred tax assets | | | — | | | | 12,705 | | | | 314 | | | | — | | | | 13,019 | |
Other current assets | | | — | | | | 31,504 | | | | 1,012 | | | | — | | | | 32,516 | |
| | | | | | | | | | | | | | | | | | | | |
Total current assets | | | — | | | | 129,585 | | | | 14,611 | | | | (1,316 | ) | | | 142,880 | |
Property and equipment, net | | | — | | | | 299,219 | | | | 30,516 | | | | — | | | | 329,735 | |
Goodwill | | | — | | | | 549,721 | | | | 97,289 | | | | — | | | | 647,010 | |
Intangible assets, net | | | — | | | | 17,193 | | | | 1,990 | | | | — | | | | 19,183 | |
Investment in subsidiaries | | | 983,456 | | | | — | | | | — | | | | (983,456 | ) | | | — | |
Other assets | | | 14,158 | | | | 7,699 | | | | 2,321 | | | | — | | | | 24,178 | |
| | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 997,614 | | | $ | 1,003,417 | | | $ | 146,727 | | | $ | (984,772 | ) | | $ | 1,162,986 | |
| | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | |
Current portion of long-term debt | | $ | 13,125 | | | $ | — | | | $ | 180 | | | $ | — | | | $ | 13,305 | |
Accounts payable | | | — | | | | 26,573 | | | | 1,192 | | | | (1,316 | ) | | | 26,449 | |
Accrued salaries and benefits | | | — | | | | 31,037 | | | | 1,247 | | | | — | | | | 32,284 | |
Other accrued liabilities | | | 5,692 | | | | 21,524 | | | | 2,019 | | | | — | | | | 29,235 | |
| | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 18,817 | | | | 79,134 | | | | 4,638 | | | | (1,316 | ) | | | 101,273 | |
Long-term debt | | | 513,996 | | | | — | | | | 57,959 | | | | — | | | | 571,955 | |
Deferred tax liabilities – noncurrent | | | (1,732 | ) | | | 12,842 | | | | (6,131 | ) | | | — | | | | 4,979 | |
Other liabilities | | | — | | | | 18,246 | | | | — | | | | — | | | | 18,246 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | 531,081 | | | | 110,222 | | | | 56,466 | | | | (1,316 | ) | | | 696,453 | |
| | | | | | | | | | | | | | | | | | | | |
Total equity | | | 466,533 | | | | 893,195 | | | | 90,261 | | | | (983,456 | ) | | | 466,533 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | 997,614 | | | $ | 1,003,417 | | | $ | 146,727 | | | $ | (984,772 | ) | | $ | 1,162,986 | |
| | | | | | | | | | | | | | | | | | | | |
|
Acadia Healthcare Company, Inc. |
Condensed Consolidating Balance Sheets |
December 31, 2012 |
(In thousands) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Combined | | | Combined | | | Consolidating | | | Total | |
Subsidiary | Subsidiary | Adjustments | Consolidated |
Guarantors | Non- | | Amounts |
| Guarantors | | |
Current assets: | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 49,307 | | | $ | 92 | | | $ | — | | | $ | 49,399 | |
Accounts receivable, net | | | — | | | | 61,359 | | | | 2,511 | | | | — | | | | 63,870 | |
Deferred tax assets | | | — | | | | 11,323 | | | | 57 | | | | — | | | | 11,380 | |
Other current assets | | | — | | | | 16,074 | | | | 258 | | | | — | | | | 16,332 | |
| | | | | | | | | | | | | | | | | | | | |
Total current assets | | | — | | | | 138,063 | | | | 2,918 | | | | — | | | | 140,981 | |
Property and equipment, net | | | — | | | | 218,716 | | | | 18,226 | | | | — | | | | 236,942 | |
Goodwill | | | — | | | | 537,296 | | | | 20,106 | | | | — | | | | 557,402 | |
Intangible assets, net | | | — | | | | 14,953 | | | | 1,035 | | | | — | | | | 15,988 | |
Investment in subsidiaries | | | 868,165 | | | | — | | | | — | | | | (868,165 | ) | | | — | |
Other assets | | | 13,562 | | | | 16,217 | | | | 2,321 | | | | — | | | | 32,100 | |
| | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 881,727 | | | $ | 925,245 | | | $ | 44,606 | | | $ | (868,165 | ) | | $ | 983,413 | |
| | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | |
Current portion of long-term debt | | $ | 7,500 | | | $ | — | | | $ | 180 | | | $ | — | | | $ | 7,680 | |
Accounts payable | | | — | | | | 18,048 | | | | 1,033 | | | | — | | | | 19,081 | |
Accrued salaries and benefits | | | — | | | | 28,285 | | | | 464 | | | | — | | | | 28,749 | |
Other accrued liabilities | | | 3,259 | | | | 12,853 | | | | 229 | | | | — | | | | 16,341 | |
| | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 10,759 | | | | 59,186 | | | | 1,906 | | | | | | | | 71,851 | |
Long-term debt | | | 440,257 | | | | — | | | | 25,381 | | | | — | | | | 465,638 | |
Deferred tax liabilities – noncurrent | | | (1,839 | ) | | | 3,793 | | | | (956 | ) | | | — | | | | 998 | |
Other liabilities | | | — | | | | 12,376 | | | | — | | | | — | | | | 12,376 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | 449,177 | | | | 75,355 | | | | 26,331 | | | | — | | | | 550,863 | |
| | | | | | | | | | | | | | | | | | | | |
Total equity | | | 432,550 | | | | 849,890 | | | | 18,275 | | | | (868,165 | ) | | | 432,550 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | 881,727 | | | $ | 925,245 | | | $ | 44,606 | | | $ | (868,165 | ) | | $ | 983,413 | |
| | | | | | | | | | | | | | | | | | | | |
|
Acadia Healthcare Company, Inc. |
Condensed Consolidating Statement of Operations |
Three Months Ended September 30, 2013 |
(In thousands) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Combined | | | Combined | | | Consolidating | | | Total | |
Subsidiary | Subsidiary | Adjustments | Consolidated |
Guarantors | Non- | | Amounts |
| Guarantors | | |
Revenue before provision for doubtful accounts | | $ | — | | | $ | 179,560 | | | $ | 11,014 | | | $ | — | | | $ | 190,574 | |
Provision for doubtful accounts | | | — | | | | (5,660 | ) | | | (212 | ) | | | — | | | | (5,872 | ) |
| | | | | | | | | | | | | | | | | | | | |
Revenue | | | — | | | | 173,900 | | | | 10,802 | | | | — | | | | 184,702 | |
Salaries, wages and benefits | | | 1,331 | | | | 98,166 | | | | 4,292 | | | | — | | | | 103,789 | |
Professional fees | | | — | | | | 7,954 | | | | 1,002 | | | | — | | | | 8,956 | |
Supplies | | | — | | | | 9,170 | | | | 636 | | | | — | | | | 9,806 | |
Rents and leases | | | — | | | | 2,394 | | | | 262 | | | | — | | | | 2,656 | |
Other operating expenses | | | — | | | | 19,896 | | | | 2,449 | | | | — | | | | 22,345 | |
Depreciation and amortization | | | — | | | | 4,072 | | | | 342 | | | | — | | | | 4,414 | |
Interest expense, net | | | 8,542 | | | | — | | | | 923 | | | | — | | | | 9,465 | |
Transaction-related expenses | | | — | | | | 984 | | | | — | | | | — | | | | 984 | |
| | | | | | | | | | | | | | | | | | | | |
Total expenses | | | 9,873 | | | | 142,636 | | | | 9,906 | | | | — | | | | 162,415 | |
(Loss) income from continuing operations before income taxes | | | (9,873 | ) | | | 31,264 | | | | 896 | | | | — | | | | 22,287 | |
Equity in earnings of subsidiaries | | | 21,087 | | | | — | | | | — | | | | (21,087 | ) | | | — | |
(Benefit from) provision for income taxes | | | (3,150 | ) | | | 10,680 | | | | 211 | | | | — | | | | 7,741 | |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations | | | 14,364 | | | | 20,584 | | | | 685 | | | | (21,087 | ) | | | 14,546 | |
Loss from discontinued operations, net of income taxes | | | — | | | | (182 | ) | | | — | | | | — | | | | (182 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 14,364 | | | $ | 20,402 | | | $ | 685 | | | $ | (21,087 | ) | | $ | 14,364 | |
| | | | | | | | | | | | | | | | | | | | |
|
Acadia Healthcare Company, Inc. |
Condensed Consolidating Statement of Operations |
Three Months Ended September 30, 2012 |
(In thousands) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Combined | | | Combined | | | Consolidating | | | Total | |
Subsidiary | Subsidiary | Adjustments | Consolidated |
Guarantors | Non- | | Amounts |
| Guarantors | | |
Revenue before provision for doubtful accounts | | $ | — | | | $ | 104,618 | | | $ | — | | | $ | — | | | $ | 104,618 | |
Provision for doubtful accounts | | | — | | | | (1,502 | ) | | | — | | | | — | | | | (1,502 | ) |
| | | | | | | | | | | | | | | | | | | | |
Revenue | | | — | | | | 103,116 | | | | — | | | | — | | | | 103,116 | |
Salaries, wages and benefits | | | 521 | | | | 59,367 | | | | — | | | | — | | | | 59,888 | |
Professional fees | | | — | | | | 4,690 | | | | — | | | | — | | | | 4,690 | |
Supplies | | | — | | | | 4,831 | | | | — | | | | — | | | | 4,831 | |
Rents and leases | | | — | | | | 1,775 | | | | — | | | | — | | | | 1,775 | |
Other operating expenses | | | — | | | | 11,380 | | | | — | | | | — | | | | 11,380 | |
Depreciation and amortization | | | — | | | | 2,076 | | | | — | | | | — | | | | 2,076 | |
Interest expense, net | | | 7,433 | | | | — | | | | — | | | | — | | | | 7,433 | |
Transaction-related expenses | | | — | | | | 732 | | | | — | | | | — | | | | 732 | |
| | | | | | | | | | | | | | | | | | | | |
Total expenses | | | 7,954 | | | | 84,851 | | | | — | | | | — | | | | 92,805 | |
(Loss) income from continuing operations before income taxes | | | (7,954 | ) | | | 18,265 | | | | — | | | | — | | | | 10,311 | |
Equity in earnings of subsidiaries | | | 11,532 | | | | — | | | | — | | | | (11,532 | ) | | | — | |
(Benefit from) provision for income taxes | | | (2,872 | ) | | | 6,595 | | | | — | | | | — | | | | 3,723 | |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations | | | 6,450 | | | | 11,670 | | | | — | | | | (11,532 | ) | | | 6,588 | |
Loss from discontinued operations, net of income taxes | | | — | | | | (138 | ) | | | — | | | | — | | | | (138 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 6,450 | | | $ | 11,532 | | | $ | — | | | $ | (11,532 | ) | | $ | 6,450 | |
| | | | | | | | | | | | | | | | | | | | |
|
Acadia Healthcare Company, Inc. |
Condensed Consolidating Statement of Operations |
Nine Months Ended September 30, 2013 |
(In thousands) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Combined | | | Combined | | | Consolidating | | | Total | |
Subsidiary | Subsidiary | Adjustments | Consolidated |
Guarantors | Non- | | Amounts |
| Guarantors | | |
Revenue before provision for doubtful accounts | | $ | — | | | $ | 516,467 | | | $ | 22,763 | | | $ | — | | | $ | 539,230 | |
Provision for doubtful accounts | | | — | | | | (14,932 | ) | | | (889 | ) | | | — | | | | (15,821 | ) |
| | | | | | | | | | | | | | | | | | | | |
Revenue | | | — | | | | 501,535 | | | | 21,874 | | | | — | | | | 523,409 | |
Salaries, wages and benefits | | | 3,744 | | | | 285,760 | | | | 9,400 | | | | — | | | | 298,904 | |
Professional fees | | | — | | | | 25,447 | | | | 1,847 | | | | — | | | | 27,294 | |
Supplies | | | — | | | | 26,718 | | | | 1,299 | | | | — | | | | 28,017 | |
Rents and leases | | | — | | | | 6,872 | | | | 505 | | | | — | | | | 7,377 | |
Other operating expenses | | | — | | | | 53,922 | | | | 5,502 | | | | — | | | | 59,424 | |
Depreciation and amortization | | | — | | | | 11,379 | | | | 869 | | | | — | | | | 12,248 | |
Interest expense, net | | | 25,570 | | | | — | | | | 2,102 | | | | — | | | | 27,672 | |
Debt extinguishment costs | | | 9,350 | | | | — | | | | — | | | | — | | | | 9,350 | |
Transaction-related expenses | | | — | | | | 3,813 | | | | — | | | | — | | | | 3,813 | |
| | | | | | | | | | | | | | | | | | | | |
Total expenses | | | 38,664 | | | | 413,911 | | | | 21,524 | | | | — | | | | 474,099 | |
(Loss) income from continuing operations before income taxes | | | (38,664 | ) | | | 87,624 | | | | 350 | | | | — | | | | 49,310 | |
Equity in earnings of subsidiaries | | | 54,340 | | | | — | | | | — | | | | (54,340 | ) | | | — | |
(Benefit from) provision for income taxes | | | (14,623 | ) | | | 33,143 | | | | (81 | ) | | | — | | | | 18,439 | |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations | | | 30,299 | | | | 54,481 | | | | 431 | | | | (54,340 | ) | | | 30,871 | |
Loss from discontinued operations, net of income taxes | | | — | | | | (572 | ) | | | — | | | | — | | | | (572 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 30,299 | | | $ | 53,909 | | | $ | 431 | | | $ | (54,340 | ) | | $ | 30,299 | |
| | | | | | | | | | | | | | | | | | | | |
|
Acadia Healthcare Company, Inc. |
Condensed Consolidating Statement of Operations |
Nine Months Ended September 30, 2012 |
(In thousands) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Combined | | | Combined | | | Consolidating | | | Total | |
Subsidiary | Subsidiary | Adjustments | Consolidated |
Guarantors | Non- | | Amounts |
| Guarantors | | |
Revenue before provision for doubtful accounts | | $ | — | | | $ | 298,638 | | | $ | — | | | $ | — | | | $ | 298,638 | |
Provision for doubtful accounts | | | — | | | | (5,429 | ) | | | — | | | | — | | | | (5,429 | ) |
| | | | | | | | | | | | | | | | | | | | |
Revenue | | | — | | | | 293,209 | | | | — | | | | — | | | | 293,209 | |
Salaries, wages and benefits | | | 1,691 | | | | 171,899 | | | | — | | | | — | | | | 173,590 | |
Professional fees | | | — | | | | 13,521 | | | | — | | | | — | | | | 13,521 | |
Supplies | | | — | | | | 14,148 | | | | — | | | | — | | | | 14,148 | |
Rents and leases | | | — | | | | 6,244 | | | | — | | | | — | | | | 6,244 | |
Other operating expenses | | | — | | | | 30,768 | | | | — | | | | — | | | | 30,768 | |
Depreciation and amortization | | | — | | | | 5,332 | | | | — | | | | — | | | | 5,332 | |
Interest expense, net | | | 22,186 | | | | — | | | | — | | | | — | | | | 22,186 | |
Transaction-related expenses | | | — | | | | 2,097 | | | | — | | | | — | | | | 2,097 | |
| | | | | | | | | | | | | | | | | | | | |
Total expenses | | | 23,877 | | | | 244,009 | | | | — | | | | — | | | | 267,886 | |
(Loss) income from continuing operations before income taxes | | | (23,877 | ) | | | 49,200 | | | | — | | | | — | | | | 25,323 | |
Equity in earnings of subsidiaries | | | 31,139 | | | | — | | | | — | | | | (31,139 | ) | | | — | |
(Benefit from) provision for income taxes | | | (8,776 | ) | | | 18,083 | | | | — | | | | — | | | | 9,307 | |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations | | | 16,038 | | | | 31,117 | | | | — | | | | (31,139 | ) | | | 16,016 | |
Income from discontinued operations, net of income taxes | | | — | | | | 22 | | | | — | | | | — | | | | 22 | |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 16,038 | | | $ | 31,139 | | | $ | — | | | $ | (31,139 | ) | | $ | 16,038 | |
| | | | | | | | | | | | | | | | | | | | |
|
Acadia Healthcare Company, Inc. |
Condensed Consolidating Statement of Cash Flows |
Nine Months Ended September 30, 2013 |
(In thousands) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Combined | | | Combined | | | Consolidating | | | Total | |
Subsidiary | Subsidiary | Adjustments | Consolidated |
Guarantors | Non- | | Amounts |
| Guarantors | | |
Operating activities: | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 30,299 | | | $ | 53,909 | | | $ | 431 | | | $ | (54,340 | ) | | $ | 30,299 | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) continuing operating activities: | | | | | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | — | | | | 11,379 | | | | 869 | | | | — | | | | 12,248 | |
Amortization of debt issuance costs | | | 1,686 | | | | — | | | | — | | | | — | | | | 1,686 | |
Equity-based compensation expense | | | 3,744 | | | | — | | | | — | | | | — | | | | 3,744 | |
Deferred income tax expense | | | (70 | ) | | | 10,797 | | | | (182 | ) | | | — | | | | 10,545 | |
Loss from discontinued operations, net of taxes | | | — | | | | 572 | | | | — | | | | — | | | | 572 | |
Debt extinguishment costs | | | 9,350 | | | | — | | | | — | | | | — | | | | 9,350 | |
Other | | | — | | | | 16 | | | | — | | | | — | | | | 16 | |
Change in operating assets and liabilities, net of effect of acquisitions: | | | | | | | | | | | | | | | | | | | | |
Equity in earnings of subsidiaries | | | 54,340 | | | | — | | | | — | | | | (54,340 | ) | | | — | |
Accounts receivable, net | | | — | | | | (18,920 | ) | | | 542 | | | | — | | | | (18,378 | ) |
Other current assets | | | — | | | | (5,638 | ) | | | (19 | ) | | | — | | | | (5,657 | ) |
Other assets | | | — | | | | (1,676 | ) | | | — | | | | — | | | | (1,676 | ) |
Accounts payable and other accrued liabilities | | | — | | | | 2,763 | | | | (167 | ) | | | — | | | | 2,596 | |
Accrued salaries and benefits | | | — | | | | (3,660 | ) | | | 193 | | | | — | | | | (3,467 | ) |
Other liabilities | | | — | | | | 7,693 | | | | (4,155 | ) | | | — | | | | 3,538 | |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) continuing operating activities | | | 99,349 | | | | 57,235 | | | | (2,488 | ) | | | (108,680 | ) | | | 45,416 | |
Net cash used in discontinued operating activities | | | — | | | | (541 | ) | | | — | | | | — | | | | (541 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | | 99,349 | | | | 56,694 | | | | (2,488 | ) | | | (108,680 | ) | | | 44,875 | |
Investing activities: | | | | | | | | | | | | | | | | | | | | |
Cash paid for acquisitions, net of cash acquired | | | — | | | | (135,605 | ) | | | — | | | | — | | | | (135,605 | ) |
Cash paid for capital expenditures | | | — | | | | (50,378 | ) | | | (300 | ) | | | — | | | | (50,678 | ) |
Cash paid for real estate acquisitions | | | — | | | | (4,676 | ) | | | — | | | | — | | | | (4,676 | ) |
Other | | | — | | | | (1,088 | ) | | | — | | | | — | | | | (1,088 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | (191,747 | ) | | | (300 | ) | | | — | | | | (192,047 | ) |
Financing activities: | | | | | | | | | | | | | | | | | | | | |
Borrowings on long-term debt | | | 150,000 | | | | — | | | | — | | | | — | | | | 150,000 | |
Net increase in revolving credit facility | | | 19,500 | | | | — | | | | — | | | | — | | | | 19,500 | |
Principal payments on long-term debt | | | (5,625 | ) | | | — | | | | — | | | | — | | | | (5,625 | ) |
Repayment of long-term debt | | | (52,500 | ) | | | — | | | | — | | | | — | | | | (52,500 | ) |
Payment of debt issuance costs | | | (4,307 | ) | | | — | | | | — | | | | — | | | | (4,307 | ) |
Payment of premium on note redemption | | | (6,759 | ) | | | — | | | | — | | | | — | | | | (6,759 | ) |
Proceeds from stock option exercises | | | 233 | | | | — | | | | — | | | | — | | | | 233 | |
Excess tax benefit from equity awards | | | 1,265 | | | | — | | | | — | | | | — | | | | 1,265 | |
Cash (used in) provided by intercompany activity | | | (201,156 | ) | | | 85,746 | | | | 8,046 | | | | 107,364 | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by financing activities | | | (99,349 | ) | | | 85,746 | | | | 8,046 | | | | 107,364 | | | | 101,807 | |
| | | | | | | | | | | | | | | | | | | | |
Net (decrease) increase in cash and cash equivalents | | | — | | | | (49,307 | ) | | | 5,258 | | | | (1,316 | ) | | | (45,365 | ) |
Cash and cash equivalents at beginning of the period | | | — | | | | 49,307 | | | | 92 | | | | — | | | | 49,399 | |
| | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of the period | | $ | — | | | $ | — | | | $ | 5,350 | | | $ | (1,316 | ) | | $ | 4,034 | |
| | | | | | | | | | | | | | | | | | | | |
|
Acadia Healthcare Company, Inc. |
Condensed Consolidating Statement of Cash Flows |
Nine Months Ended September 30, 2012 |
(In thousands) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Combined | | | Combined | | | Consolidating | | | Total | |
Subsidiary | Subsidiary | Adjustments | Consolidated |
Guarantors | Non- | | Amounts |
| Guarantors | | |
Operating activities: | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 16,038 | | | $ | 31,139 | | | $ | — | | | $ | (31,139 | ) | | $ | 16,038 | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) continuing operating activities: | | | | | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | — | | | | 5,332 | | | | — | | | | — | | | | 5,332 | |
Amortization of debt issuance costs | | | 1,869 | | | | — | | | | — | | | | — | | | | 1,869 | |
Equity-based compensation expense | | | 1,691 | | | | — | | | | — | | | | — | | | | 1,691 | |
Deferred income tax expense | | | (439 | ) | | | 8,577 | | | | — | | | | — | | | | 8,138 | |
Loss from discontinued operations, net of taxes | | | — | | | | (22 | ) | | | — | | | | — | | | | (22 | ) |
Other | | | — | | | | (9 | ) | | | — | | | | — | | | | (9 | ) |
Change in operating assets and liabilities, net of effect of acquisitions: | | | | | | | | | | | | | | | | | | | | |
Equity in earnings of subsidiaries | | | 31,139 | | | | — | | | | — | | | | (31,139 | ) | | | — | |
Accounts receivable, net | | | — | | | | (13,597 | ) | | | — | | | | — | | | | (13,597 | ) |
Other current assets | | | — | | | | (3,677 | ) | | | — | | | | — | | | | (3,677 | ) |
Other assets | | | — | | | | 1,029 | | | | — | | | | — | | | | 1,029 | |
Accounts payable and other accrued liabilities | | | — | | | | 4,817 | | | | — | | | | — | | | | 4,817 | |
Accrued salaries and benefits | | | — | | | | 527 | | | | — | | | | — | | | | 527 | |
Other liabilities | | | — | | | | 1,527 | | | | — | | | | — | | | | 1,527 | |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) continuing operating activities | | | 50,298 | | | | 35,643 | | | | — | | | | (62,278 | ) | | | 23,663 | |
Net cash used in discontinued operating activities | | | — | | | | (328 | ) | | | — | | | | — | | | | (328 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | | 50,298 | | | | 35,315 | | | | — | | | | (62,278 | ) | | | 23,335 | |
Investing activities: | | | | | | | | | | | | | | | | | | | | |
Cash paid for acquisitions, net of cash acquired | | | — | | | | (165,981 | ) | | | — | | | | — | | | | (165,981 | ) |
Cash paid for capital expenditures | | | — | | | | (14,511 | ) | | | — | | | | — | | | | (14,511 | ) |
Cash paid for real estate acquisitions | | | — | | | | (50,745 | ) | | | — | | | | — | | | | (50,745 | ) |
Other | | | — | | | | 1,231 | | | | — | | | | — | | | | 1,231 | |
| | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | (230,006 | ) | | | — | | | | — | | | | (230,006 | ) |
Financing activities: | | | | | | | | | | | | | | | | | | | | |
Borrowings on long-term debt | | | 25,000 | | | | — | | | | — | | | | — | | | | 25,000 | |
Principal payments on long-term debt | | | (6,000 | ) | | | — | | | | — | | | | — | | | | (6,000 | ) |
Payment of debt issuance costs | | | (1,197 | ) | | | — | | | | — | | | | — | | | | (1,197 | ) |
Issuance of common stock | | | 138,954 | | | | — | | | | — | | | | — | | | | 138,954 | |
Proceeds from stock option exercises | | | 515 | | | | — | | | | — | | | | — | | | | 515 | |
Cash (used in) provided by intercompany activity | | | (207,570 | ) | | | 145,292 | | | | — | | | | 62,278 | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by financing activities | | | (50,298 | ) | | | 145,292 | | | | — | | | | 62,278 | | | | 157,272 | |
| | | | | | | | | | | | | | | | | | | | |
Net decrease in cash and cash equivalents | | | — | | | | (49,399 | ) | | | — | | | | — | | | | (49,399 | ) |
Cash and cash equivalents at beginning of the period | | | — | | | | 61,118 | | | | — | | | | — | | | | 61,118 | |
| | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of the period | | $ | — | | | $ | 11,719 | | | $ | — | | | $ | — | | | $ | 11,719 | |