Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 30, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'ACHC | ' |
Entity Registrant Name | 'Acadia Healthcare Company, Inc. | ' |
Entity Central Index Key | '0001520697 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 59,918,574 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $42,179 | $4,569 |
Accounts receivable, net of allowance for doubtful accounts of $21,730 and $18,345, respectively | 130,253 | 95,885 |
Deferred tax assets | 19,782 | 15,703 |
Other current assets | 37,626 | 28,969 |
Total current assets | 229,840 | 145,126 |
Property and equipment, net | 1,026,378 | 370,109 |
Goodwill | 804,647 | 661,549 |
Intangible assets, net | 21,621 | 20,568 |
Deferred tax assets - noncurrent | 15,933 | ' |
Other assets | 42,049 | 27,307 |
Total assets | 2,140,468 | 1,224,659 |
Current liabilities: | ' | ' |
Current portion of long-term debt | 13,320 | 15,195 |
Accounts payable | 43,260 | 36,026 |
Accrued salaries and benefits | 56,213 | 37,721 |
Other accrued liabilities | 29,747 | 25,748 |
Total current liabilities | 142,540 | 114,690 |
Long-term debt | 1,016,002 | 601,941 |
Deferred tax liabilities - noncurrent | 64,771 | 7,971 |
Other liabilities | 30,579 | 19,347 |
Total liabilities | 1,253,892 | 743,949 |
Equity: | ' | ' |
Preferred stock, $0.01 par value; 10,000,000 shares authorized, no shares issued | ' | ' |
Common stock, $0.01 par value; 90,000,000 shares authorized; 59,182,578 and 50,070,980 issued and outstanding as of September 30, 2014 and December 31, 2013, respectively | 592 | 501 |
Additional paid-in capital | 843,528 | 461,807 |
Accumulated other comprehensive loss | -36,857 | 0 |
Retained earnings | 79,313 | 18,402 |
Total equity | 886,576 | 480,710 |
Total liabilities and equity | $2,140,468 | $1,224,659 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Receivable, allowance for doubtful accounts | $21,730 | $18,345 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, authorized | 10,000,000 | 10,000,000 |
Preferred stock, issued | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 90,000,000 | 90,000,000 |
Common stock, shares issued | 59,182,578 | 50,070,980 |
Common stock, shares outstanding | 59,182,578 | 50,070,980 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Revenue before provision for doubtful accounts | $303,001 | $190,574 | $729,784 | $539,230 |
Provision for doubtful accounts | -8,522 | -5,872 | -20,084 | -15,821 |
Revenue | 294,479 | 184,702 | 709,700 | 523,409 |
Salaries, wages and benefits (including equity-based compensation expense of $2,805, $1,331, $6,975 and $3,744, respectively) | 168,632 | 103,789 | 408,680 | 298,904 |
Professional fees | 14,878 | 8,956 | 36,151 | 27,294 |
Supplies | 14,062 | 9,806 | 34,722 | 28,017 |
Rents and leases | 3,214 | 2,656 | 8,872 | 7,377 |
Other operating expenses | 31,432 | 22,345 | 79,188 | 59,424 |
Depreciation and amortization | 10,325 | 4,414 | 21,696 | 12,248 |
Interest expense, net | 14,068 | 9,465 | 33,505 | 27,672 |
Debt extinguishment costs | ' | ' | ' | 9,350 |
Gain on foreign currency derivatives | -1,527 | ' | -15,262 | ' |
Transaction-related expenses | 6,239 | 984 | 10,834 | 3,813 |
Total expenses | 261,323 | 162,415 | 618,386 | 474,099 |
Income from continuing operations before income taxes | 33,156 | 22,287 | 91,314 | 49,310 |
Provision for income taxes | 7,703 | 7,741 | 30,383 | 18,439 |
Income (loss) from continuing operations | 25,453 | 14,546 | 60,931 | 30,871 |
Loss from discontinued operations, net of income taxes | -51 | -182 | -20 | -572 |
Net income | $25,402 | $14,364 | $60,911 | $30,299 |
Basic earnings per share: | ' | ' | ' | ' |
Income from continuing operations | $0.43 | $0.29 | $1.14 | $0.62 |
Loss from discontinued operations | ' | ' | ' | ($0.01) |
Net income | $0.43 | $0.29 | $1.14 | $0.61 |
Diluted earnings per share: | ' | ' | ' | ' |
Income from continuing operations | $0.43 | $0.29 | $1.13 | $0.61 |
Loss from discontinued operations | ' | ' | ' | ($0.01) |
Net income | $0.43 | $0.29 | $1.13 | $0.60 |
Weighted-average shares outstanding: | ' | ' | ' | ' |
Basic | 59,175 | 50,040 | 53,670 | 49,987 |
Diluted | 59,409 | 50,343 | 53,922 | 50,213 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Income (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Equity-based compensation expense | $2,805 | $1,331 | $6,975 | $3,744 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $25,402 | $14,364 | $60,911 | $30,299 |
Other comprehensive loss: | ' | ' | ' | ' |
Foreign currency translation loss | -36,857 | ' | -36,857 | ' |
Other comprehensive loss | -36,857 | ' | -36,857 | ' |
Comprehensive (loss) income | ($11,455) | $14,364 | $24,054 | $30,299 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statement of Equity (Unaudited) (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Retained Earnings [Member] |
In Thousands, except Share data | |||||
Balance at Dec. 31, 2013 | $480,710 | $501 | $461,807 | ' | $18,402 |
Balance, shares at Dec. 31, 2013 | ' | 50,071,000 | ' | ' | ' |
Common stock issued under stock incentive plans | 570 | 2 | 568 | ' | ' |
Common stock issued under stock incentive plans, shares , shares | 182,888 | 230,000 | ' | ' | ' |
Common stock withheld for minimum statutory taxes | -4,047 | ' | -4,047 | ' | ' |
Equity-based compensation expense | 6,975 | ' | 6,975 | ' | ' |
Excess tax benefit from equity awards | 3,779 | ' | 3,779 | ' | ' |
Issuance of common stock, net | 374,431 | 89 | 374,342 | ' | ' |
Issuance of common stock, net, shares | ' | 8,882,000 | ' | ' | ' |
Other | 104 | ' | 104 | ' | ' |
Other comprehensive loss | -36,857 | ' | ' | -36,857 | ' |
Net income | 60,911 | ' | ' | ' | 60,911 |
Balance at Sep. 30, 2014 | $886,576 | $592 | $843,528 | ($36,857) | $79,313 |
Balance, shares at Sep. 30, 2014 | ' | 59,183,000 | ' | ' | ' |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Operating activities: | ' | ' |
Net income | $60,911 | $30,299 |
Adjustments to reconcile net income to net cash provided by continuing operating activities: | ' | ' |
Depreciation and amortization | 21,696 | 12,248 |
Amortization of debt issuance costs | 2,229 | 1,686 |
Equity-based compensation expense | 6,975 | 3,744 |
Deferred income tax expense | 4,645 | 10,545 |
Loss from discontinued operations, net of taxes | 20 | 572 |
Debt extinguishment costs | ' | 9,350 |
Gain on foreign currency derivatives | -15,262 | ' |
Other | 163 | 16 |
Change in operating assets and liabilities, net of effect of acquisitions: | ' | ' |
Accounts receivable, net | -25,395 | -18,378 |
Other current assets | 1,322 | -5,657 |
Other assets | -2,086 | -1,676 |
Accounts payable and other accrued liabilities | 1,078 | 2,596 |
Accrued salaries and benefits | 8,972 | -2,114 |
Other liabilities | 3,805 | 3,538 |
Net cash (used in) provided by continuing operating activities | 69,073 | 46,769 |
Net cash used in discontinued operating activities | -27 | -541 |
Net cash provided by operating activities | 69,046 | 46,228 |
Investing activities: | ' | ' |
Cash paid for acquisitions, net of cash acquired | -722,797 | -135,605 |
Cash paid for capital expenditures | -70,680 | -50,678 |
Cash paid for real estate acquisitions | -22,247 | -4,676 |
Settlement of foreign currency derivatives | 15,262 | ' |
Other | -733 | -1,088 |
Net cash used in investing activities | -801,195 | -192,047 |
Financing activities: | ' | ' |
Borrowings on long-term debt | 307,500 | 150,000 |
Borrowings on revolving credit facility | 230,500 | 27,500 |
Principal payments on revolving credit facility | -120,000 | -8,000 |
Principal payments on long-term debt | -5,625 | -5,625 |
Repayment of long-term debt | ' | -52,500 |
Payment of debt issuance costs | -10,909 | -4,307 |
Payment of premium on note redemption | ' | -6,759 |
Issuance of common stock, net | 374,431 | ' |
Common stock withheld for minimum statutory taxes, net | -3,477 | -1,120 |
Excess tax benefit from equity awards | 3,779 | 1,265 |
Cash paid for contingent consideration | -5,000 | ' |
Net cash provided by (used in) financing activities | 771,199 | 100,454 |
Effect of exchange rate changes on cash | -1,440 | ' |
Net increase (decrease) in cash and cash equivalents | 37,610 | -45,365 |
Cash and cash equivalents at beginning of the period | 4,569 | 49,399 |
Cash and cash equivalents at end of the period | 42,179 | 4,034 |
Effect of acquisitions: | ' | ' |
Assets acquired, excluding cash | 802,767 | 163,706 |
Liabilities assumed | -78,003 | -16,417 |
Prior year deposits paid for acquisitions | -500 | -11,684 |
Contingent consideration issued in connection with acquisition | -1,467 | ' |
Cash paid for acquisitions, net of cash acquired | $722,797 | $135,605 |
Description_of_Business_and_Ba
Description of Business and Basis of Presentation | 9 Months Ended | |
Sep. 30, 2014 | ||
Accounting Policies [Abstract] | ' | |
Description of Business and Basis of Presentation | ' | |
1 | Description of Business and Basis of Presentation | |
Description of Business | ||
Acadia Healthcare Company, Inc. (the “Company”) develops and operates inpatient psychiatric facilities, residential treatment centers, group homes, substance abuse facilities and facilities providing outpatient behavioral healthcare services to serve the behavioral health and recovery needs of communities throughout the United States. At September 30, 2014, the Company operated 76 behavioral healthcare facilities with approximately 5,800 licensed beds in 24 states, the United Kingdom and Puerto Rico. | ||
Basis of Presentation | ||
The business of the Company is conducted through limited liability companies and C-corporations, each of which is a direct or indirect wholly-owned subsidiary of the Company. The Company’s consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, all of which are 100% owned. All intercompany accounts and transactions have been eliminated in consolidation. | ||
The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation of our financial position and results of operations have been included. The Company’s fiscal year ends on December 31 and interim results are not necessarily indicative of results for a full year or any other interim period. The condensed consolidated balance sheet at December 31, 2013 has been derived from the audited financial statements as of that date. The information contained in these condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto for the fiscal year ended December 31, 2013 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 21, 2014. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. | ||
Certain reclassifications have been made to prior years to conform to the current year presentation. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||
2 | Earnings Per Share | ||||||||||||||||
Basic and diluted earnings per share are calculated in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 260, “Earnings Per Share,” based on the weighted-average number of shares outstanding in each period and dilutive stock options, unvested shares and warrants, to the extent such securities have a dilutive effect on earnings per share. | |||||||||||||||||
The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2014 and 2013 (in thousands except per share amounts): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator: | |||||||||||||||||
Basic and diluted earnings per share: | |||||||||||||||||
Income from continuing operations | $ | 25,453 | $ | 14,546 | $ | 60,931 | $ | 30,871 | |||||||||
Loss from discontinued operations | (51 | ) | (182 | ) | (20 | ) | (572 | ) | |||||||||
Net income | $ | 25,402 | $ | 14,364 | $ | 60,911 | $ | 30,299 | |||||||||
Denominator: | |||||||||||||||||
Weighted average shares outstanding for basic earnings per share | 59,175 | 50,040 | 53,670 | 49,987 | |||||||||||||
Effect of dilutive instruments | 234 | 303 | 252 | 226 | |||||||||||||
Shares used in computing diluted earnings per common share | 59,409 | 50,343 | 53,922 | 50,213 | |||||||||||||
Basic earnings per share: | |||||||||||||||||
Income from continuing operations | $ | 0.43 | $ | 0.29 | $ | 1.14 | $ | 0.62 | |||||||||
Loss from discontinued operations | — | — | — | (0.01 | ) | ||||||||||||
Net income | $ | 0.43 | $ | 0.29 | $ | 1.14 | $ | 0.61 | |||||||||
Diluted earnings per share: | |||||||||||||||||
Income from continuing operations | $ | 0.43 | $ | 0.29 | $ | 1.13 | $ | 0.61 | |||||||||
Loss from discontinued operations | — | — | — | (0.01 | ) | ||||||||||||
Net income | $ | 0.43 | $ | 0.29 | $ | 1.13 | $ | 0.6 | |||||||||
Approximately 0.5 million and 0.4 million shares of common stock issuable upon exercise of outstanding stock option awards were excluded from the calculation of diluted earnings per share for the three months ended September 30, 2014 and 2013, respectively, because their effect would have been anti-dilutive. Approximately 0.7 million shares of common stock issuable upon exercise of outstanding stock option awards were excluded from the calculation of diluted earnings per share for both the nine months ended September 30, 2014 and 2013, respectively, because their effect would have been anti-dilutive. |
Acquisitions
Acquisitions | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Acquisitions | ' | ||||||||||||||||
3 | Acquisitions | ||||||||||||||||
McCallum | |||||||||||||||||
On September 3, 2014, the Company acquired for $37.4 million the assets of McCallum Place (“McCallum”), an eating disorder treatment facility with 85 beds offering residential, partial hospitalization and intensive outpatient treatment programs located in St. Louis, Missouri, and Austin, Texas. The Company may make a cash payment under an earn-out agreement of up to $6.0 million, contingent upon achievement by McCallum of certain operating performance targets for the one-year period ending October 31, 2015. | |||||||||||||||||
Partnerships in Care | |||||||||||||||||
On July 1, 2014, the Company acquired Partnerships in Care for cash consideration of $661.7 million, which is net of cash acquired of $12.0 million and the gain on settlement of the foreign currency derivatives of $15.3 million. The Company used $300.0 million of proceeds from the July 1, 2014 sale of 5.125% Senior Notes due 2022 (the “5.125% Senior Notes”) (described in Note 7), $374.3 million of proceeds from the June 2014 sale of Acadia common stock (described in Note 8) and borrowings under the Company’s Amended and Restated Senior Secured Credit Facility to fund the acquisition. Partnerships in Care is the second largest independent provider of inpatient behavioral healthcare services in the United Kingdom, operating 23 inpatient behavioral healthcare facilities with over 1,200 beds. | |||||||||||||||||
Pacific Grove | |||||||||||||||||
On January 1, 2014, the Company acquired the assets of Pacific Grove Hospital (“Pacific Grove”), an inpatient psychiatric facility with 68 licensed beds located in Riverside, California, for cash consideration of $10.5 million. | |||||||||||||||||
2013 Acquisitions | |||||||||||||||||
On December 1, 2013, the Company acquired the assets of Cascade Behavioral Hospital (“Cascade”). On October 1, 2013, the Company acquired the assets of Longleaf Hospital (“Longleaf”). On August 1, 2013, the Company acquired The Refuge, a Healing Place (“The Refuge”). On May 1, 2013, the Company acquired two facilities from United Medical Corporation (the “UMC Facilities”). On January 31, 2013, the Company acquired DMC-Memphis, Inc. d/b/a Delta Medical Center (“Delta”). On January 1, 2013, the Company acquired the assets of Greenleaf Center (“Greenleaf”). | |||||||||||||||||
Summary of Acquisitions | |||||||||||||||||
The Company selectively seeks opportunities to expand and diversify its base of operations by acquiring additional facilities. The majority of the goodwill associated with the acquisitions completed in 2014 and 2013 is deductible for federal income tax purposes. The fair values assigned to certain assets and liabilities assumed by the Company have been estimated on a preliminary basis and are subject to change as new facts and circumstances emerge that were present at the date of acquisition. Specifically, the Company is further assessing the valuation of certain tax matters as well as certain receivables and assumed liabilities of McCallum, Partnerships in Care, Pacific Grove, and Cascade. The assumed liabilities of Partnerships in Care include a pension liability under a frozen noncontributory defined benefit pension plan (with an estimated unfunded obligation of approximately $6.3 million), which the Company expects to fund based upon actuarial assumptions and estimates (which are subject to periodic adjustment). The Company expects to finalize its analyses as the necessary information becomes available to complete the measurement process. Once finalized, the Company will adjust the application of the acquisition method of accounting to reflect its final valuations. | |||||||||||||||||
The preliminary fair values of assets acquired and liabilities assumed, at the corresponding acquisition dates, during the nine months ended September 30, 2014 in connection with the McCallum, Partnerships in Care and Pacific Grove acquisitions were as follows (in thousands): | |||||||||||||||||
Partnerships in Care | Other | Total | |||||||||||||||
Cash | $ | 11,674 | $ | — | $ | 11,674 | |||||||||||
Accounts receivable | 7,684 | 2,072 | 9,756 | ||||||||||||||
Prepaid expenses and other current assets | 13,570 | 169 | 13,739 | ||||||||||||||
Property and equipment | 610,477 | 11,565 | 622,042 | ||||||||||||||
Goodwill | 117,297 | 31,586 | 148,883 | ||||||||||||||
Intangible assets | 651 | 204 | 855 | ||||||||||||||
Other assets | 4,268 | 3,224 | 7,492 | ||||||||||||||
Total assets acquired | 765,621 | 48,820 | 814,441 | ||||||||||||||
Accounts payable | 3,958 | 93 | 4,051 | ||||||||||||||
Accrued salaries and benefits | 10,422 | — | 10,422 | ||||||||||||||
Other accrued expenses | 6,206 | 840 | 7,046 | ||||||||||||||
Deferred tax liabilities – noncurrent | 50,182 | — | 50,182 | ||||||||||||||
Other liabilities | 6,302 | — | 6,302 | ||||||||||||||
Total liabilities assumed | 77,070 | 933 | 78,003 | ||||||||||||||
Net assets acquired | $ | 688,551 | $ | 47,887 | $ | 736,438 | |||||||||||
The fair values of assets acquired and liabilities assumed during 2013, at the corresponding acquisition dates, were as follows (in thousands): | |||||||||||||||||
UMC Facilities | Other | Total | |||||||||||||||
Cash | $ | 52 | $ | 873 | $ | 925 | |||||||||||
Accounts receivable | 4,961 | 5,840 | 10,801 | ||||||||||||||
Prepaid expenses and other current assets | 691 | 3,062 | 3,753 | ||||||||||||||
Property and equipment | 22,347 | 42,672 | 65,019 | ||||||||||||||
Goodwill | 67,589 | 37,619 | 105,208 | ||||||||||||||
Intangible assets | 1,505 | 1,910 | 3,415 | ||||||||||||||
Other assets | 4,712 | 29 | 4,741 | ||||||||||||||
Total assets acquired | 101,857 | 92,005 | 193,862 | ||||||||||||||
Accounts payable | 1,535 | 7,487 | 9,022 | ||||||||||||||
Accrued salaries and benefits | 588 | 3,079 | 3,667 | ||||||||||||||
Other accrued expenses | 315 | 2,289 | 2,604 | ||||||||||||||
Other liabilities | — | 2,360 | 2,360 | ||||||||||||||
Total liabilities assumed | 2,438 | 15,215 | 17,653 | ||||||||||||||
Net assets acquired | $ | 99,419 | $ | 76,790 | $ | 176,209 | |||||||||||
Other | |||||||||||||||||
The qualitative factors comprising the goodwill acquired through September 30, 2104 in the McCallum, Partnerships in Care, Pacific Grove, Cascade, Longleaf, The Refuge, the UMC Facilities, Delta and Greenleaf acquisitions (collectively the “2013 and 2014 Acquisitions”) include efficiencies derived through synergies expected by the elimination of certain redundant corporate functions and expenses, the ability to leverage call center referrals to a broader provider base, coordination of services provided across the combined network of facilities, achievement of operating efficiencies by benchmarking performance, and applying best practices throughout the combined companies. | |||||||||||||||||
Transaction-related expenses comprised the following costs for the three and nine months ended September 30, 2014 and 2013 (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Legal, accounting and other costs | $ | 5,935 | $ | 841 | $ | 10,071 | $ | 2,644 | |||||||||
Severance and contract termination costs | 304 | 143 | 763 | 1,169 | |||||||||||||
$ | 6,239 | $ | 984 | $ | 10,834 | $ | 3,813 | ||||||||||
Pro Forma Information | |||||||||||||||||
The condensed consolidated statements of income for the three and nine months ended September 30, 2014 include revenue of $117.1 million and $184.7 million, respectively, and income from continuing operations before income taxes of $12.2 million and $16.9 million, respectively, related to acquisitions completed in 2014 and 2013. The condensed consolidated statements of income for the three and nine months ended September 30, 2013 include revenue of $24.3 million and $52.5 million, respectively, and income (loss) from continuing operations before income taxes of $0.9 million and $(1.4) million, respectively, related to acquisitions completed in 2013. | |||||||||||||||||
The following table provides certain pro forma financial information for the Company as if the 2013 and 2014 Acquisitions had occurred as of January 1, 2013 (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenue | $ | 296,479 | $ | 261,409 | $ | 860,151 | $ | 764,605 | |||||||||
Income from continuing operations, before income taxes | $ | 33,406 | $ | 12,044 | $ | 64,607 | $ | 19,707 | |||||||||
Other_Intangible_Assets
Other Intangible Assets | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Other Intangible Assets | ' | ||||||||||||||||
4 | Other Intangible Assets | ||||||||||||||||
Other identifiable intangible assets and related accumulated amortization consisted of the following as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | ||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Intangible assets subject to amortization: | |||||||||||||||||
Contract intangible assets | $ | 2,100 | $ | 2,100 | $ | (1,225 | ) | $ | (910 | ) | |||||||
Non-compete agreements | 1,247 | 1,247 | (1,121 | ) | (1,021 | ) | |||||||||||
3,347 | 3,347 | (2,346 | ) | (1,931 | ) | ||||||||||||
Intangible assets not subject to amortization: | |||||||||||||||||
Licenses and accreditations | 9,211 | 8,391 | — | — | |||||||||||||
Trade names | 3,000 | 3,000 | — | — | |||||||||||||
Certificates of need | 8,409 | 7,761 | — | — | |||||||||||||
20,620 | 19,152 | — | — | ||||||||||||||
Total | $ | 23,967 | $ | 22,499 | $ | (2,346 | ) | $ | (1,931 | ) | |||||||
In connection with the Pacific Grove acquisition, the Company acquired a license and accreditation intangible asset with a fair value of $0.2 million. In connection with the Partnerships in Care acquisition, the Company acquired a license and accreditation intangible asset with a fair value of $0.7 million. | |||||||||||||||||
In connection with the Greenleaf acquisition, the Company acquired a certificate of need with a fair value of $0.6 million. In connection with the Delta acquisition, the Company acquired intangible assets with a fair value of $0.8 million consisting of licenses and accreditations of $0.2 million and a certificate of need of $0.6 million. In connection with the UMC Facilities’ acquisition, the Company acquired intangible assets with a fair value of $1.5 million consisting of licenses and accreditations of $0.2 million and certificates of need of $1.3 million. In connection with the Longleaf acquisition, the Company acquired a license and accreditation intangible asset with a fair value of $0.2 million. In connection with the Cascade acquisition, the Company acquired a certificate of need with a fair value of $0.3 million. The Company incurred and capitalized $0.4 million and $0.3 million during the nine months ended September 30, 2014 and 2013, respectively, related to costs to obtain certificates of need. | |||||||||||||||||
The non-compete agreements are being amortized on a straight-line basis over the term of the agreements. The contract intangible is amortized on a straight-line basis over the estimated five-year term of the related contract. | |||||||||||||||||
Amortization expense related to definite-lived intangible assets was $0.1 million and $0.2 million for the three months ended September 30, 2014 and 2013, respectively, and $0.4 million and $0.6 million for the nine months ended September 30, 2014 and 2013, respectively. Estimated amortization expense for the years ending December 31, 2014, 2015, 2016, 2017 and 2018 is $0.5 million, $0.5 million, $0.4 million, $0 and $0, respectively. The Company’s licenses and accreditations, trade names and certificate of need intangible assets have indefinite lives and are, therefore, not subject to amortization. |
Property_and_Equipment
Property and Equipment | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
5 | Property and Equipment | ||||||||
Property and equipment consists of the following as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||
September 30, 2014 | December 31, 2013 | ||||||||
Land | $ | 132,114 | $ | 58,947 | |||||
Building and improvements | 829,078 | 259,523 | |||||||
Equipment | 69,538 | 36,742 | |||||||
Construction in progress | 45,885 | 44,186 | |||||||
1,076,615 | 399,398 | ||||||||
Less accumulated depreciation | (50,237 | ) | (29,289 | ) | |||||
Property and equipment, net | $ | 1,026,378 | $ | 370,109 | |||||
Discontinued_Operations
Discontinued Operations | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||||||
Discontinued Operations | ' | ||||||||||||||||
6 | Discontinued Operations | ||||||||||||||||
In June 2012, the Company disposed of its PsychSolutions facility located in Miami, Florida and recognized a pretax loss on disposal of $0.2 million, which had been included in loss from discontinued operations on the consolidated statements of income. The results of operations of this facility has been reported as discontinued operations in the accompanying consolidated financial statements. | |||||||||||||||||
A summary of results from discontinued operations is as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenue | $ | — | $ | — | $ | — | $ | — | |||||||||
Loss from discontinued operations, net of income taxes | $ | (51 | ) | $ | (182 | ) | $ | (20 | ) | $ | (572 | ) | |||||
LongTerm_Debt
Long-Term Debt | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
7 | Long-Term Debt | ||||||||
Long-term debt consisted of the following (in thousands): | |||||||||
September 30, 2014 | December 31, 2013 | ||||||||
Amended and Restated Senior Credit Facility: | |||||||||
Senior Secured Term Loans | $ | 294,375 | $ | 292,500 | |||||
Senior Secured Revolving Line of Credit | 164,000 | 53,500 | |||||||
12.875% Senior Notes due 2018 | 96,366 | 96,216 | |||||||
6.125% Senior Notes due 2021 | 150,000 | 150,000 | |||||||
5.125% Senior Notes due 2022 | 300,000 | — | |||||||
9.0% and 9.5% Revenue Bonds | 24,581 | 24,920 | |||||||
1,029,322 | 617,136 | ||||||||
Less: current portion | (13,320 | ) | (15,195 | ) | |||||
Long-term debt | $ | 1,016,002 | $ | 601,941 | |||||
Amended and Restated Senior Credit Facility | |||||||||
The Company entered into a senior secured credit facility (the “Senior Secured Credit Facility”), administered by Bank of America, N.A., on April 1, 2011. On December 31, 2012, the Company entered into an Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement”) which amended and restated the Senior Secured Credit Facility (“Amended and Restated Senior Credit Facility”). | |||||||||
On February 13, 2014, the Company entered into a Fourth Amendment (the “Fourth Amendment”) to the Amended and Restated Credit Agreement, to increase the size of the Amended and Restated Senior Credit Facility and extend the maturity date thereof, which resulted in the Company having a revolving line of credit of up to $300.0 million and term loans of $300.0 million. The Fourth Amendment also reduced the interest rates applicable to the Amended and Restated Senior Credit Facility and provided increased flexibility to the Company in terms of the financial and other restrictive covenants. The Fourth Amendment also provides for a $150.0 million incremental credit facility, with the potential for unlimited additional incremental amounts, provided the Company meets certain financial ratios, in each case subject to customary conditions precedent to borrowing. | |||||||||
On June 16, 2014, the Company entered into a Fifth Amendment (the “Fifth Amendment”) to the Amended and Restated Credit Agreement. The Fifth Amendment specifically permitted the Company’s acquisition of Partnerships in Care, gave the Company the ability to incur a tranche of term loan B debt in the future through its incremental credit facility, and modified certain of the restrictive covenants on miscellaneous investments and incurrence of miscellaneous liens. The restrictive covenants on investments in joint ventures and foreign subsidiaries were also amended such that the Company may now invest, in any given fiscal year, up to five percent (5%) of its total assets in both joint ventures and foreign subsidiaries, respectively; provided that the aggregate amount of investments in both joint ventures and foreign subsidiaries, respectively, may not exceed ten percent (10%) of its total assets over the life of the Amended and Restated Senior Credit Facility; provided further that the aggregate amount of investments made in both joint ventures and foreign subsidiaries collectively pursuant to the foregoing may not exceed fifteen percent (15%) of its total assets. Finally, the Fifth Amendment provided increased flexibility to the Company in terms of its financial covenants. | |||||||||
The Company had $135.6 million of availability under the revolving line of credit as of September 30, 2014. Borrowings under the revolving line of credit are subject to customary conditions precedent to borrowing. The term loans require quarterly principal payments of $1.9 million for September 30, 2014 to December 31, 2014, $3.8 million for March 31, 2015 to December 31, 2015, $5.6 million for March 31, 2016 to December 31, 2016, $7.5 million for March 31, 2017 to December 31, 2017, and $9.4 million for March 31, 2018 to December 31, 2018, with the remaining principal balance due on the maturity date of February 13, 2019. | |||||||||
Borrowings under the Amended and Restated Senior Credit Facility are guaranteed by each of the Company’s wholly-owned domestic subsidiaries (other than Park Royal and certain other excluded subsidiaries) and are secured by a lien on substantially all of the assets of the Company and such subsidiaries. Borrowings under the Amended and Restated Senior Credit Facility bear interest at a rate tied to Acadia’s Consolidated Leverage Ratio (defined as consolidated funded debt net of up to $20,000,000 of unrestricted and unencumbered cash to consolidated EBITDA, in each case as defined in the Amended and Restated Credit Agreement). The Applicable Rate (as defined in the Amended and Restated Credit Agreement) for borrowings under the Amended and Restated Senior Credit Facility was 2.75% for Eurodollar Rate Loans (as defined in the Amended and Restated Credit Agreement) and 1.75% for Base Rate Loans (as defined in the Amended and Restated Credit Agreement) at September 30, 2014. Eurodollar Rate Loans bear interest at the Applicable Rate plus the Eurodollar Rate (as defined in the Amended and Restated Credit Agreement) (based upon the LIBOR Rate (as defined in the Amended and Restated Credit Agreement) prior to commencement of the interest rate period). Base Rate Loans bear interest at the Applicable Rate plus the highest of (i) the federal funds rate plus 0.50%, (ii) the prime rate and (iii) the Eurodollar Rate plus 1.0%. As of September 30, 2014, borrowings under the Senior Secured Credit Facility bore interest at a rate of LIBOR plus 2.75%. In addition, we are required to pay a commitment fee on undrawn amounts under the revolving line of credit. We paid a commitment fee of 0.50% for undrawn amounts for the period from January 1, 2013 through February 12, 2014 and 0.40% for undrawn amounts for the period from February 13, 2014 through September 30, 2014. The Amended and Restated Senior Credit Facility matures on February 13, 2019. | |||||||||
The Amended and Restated Credit Agreement requires the Company and its subsidiaries to comply with customary affirmative, negative and financial covenants, including a fixed charge coverage ratio, consolidated leverage ratio and senior secured leverage ratio. The Company may be required to pay all of its indebtedness immediately if it defaults on any of the numerous financial or other restrictive covenants contained in any of its material debt agreements. As of September 30, 2014, the Company was in compliance with such covenants. | |||||||||
12.875% Senior Notes due 2018 | |||||||||
On November 1, 2011, the Company issued $150.0 million of 12.875% Senior Notes due 2018 (the “12.875% Senior Notes”) at 98.323% of the aggregate principal amount of $150.0 million, a discount of $2.5 million. The notes bear interest at a rate of 12.875% per annum. The Company pays interest on the notes semi-annually, in arrears, on November 1 and May 1 of each year. | |||||||||
The indenture governing the 12.875% Senior Notes contains covenants that, among other things, limit the Company’s ability and the ability of its restricted subsidiaries to: (i) pay dividends, redeem stock or make other distributions or investments; (ii) incur additional debt or issue certain preferred stock; (iii) transfer or sell assets; (iv) engage in certain transactions with affiliates; (v) create restrictions on dividends or other payments by the restricted subsidiaries; (vi) merge, consolidate or sell substantially all of the Company’s assets; and (vii) create liens on assets. | |||||||||
The 12.875% Senior Notes issued by the Company are guaranteed by each of the Company’s subsidiaries that guarantee the Company’s obligations under the Amended and Restated Senior Credit Facility. The guarantees are full and unconditional and joint and several. | |||||||||
On March 12, 2013, the Company redeemed $52.5 million in principal amount of the 12.875% Senior Notes using a portion of the net proceeds of its December 2012 equity offering pursuant to the provision in the indenture permitting an optional redemption with equity proceeds of up to 35% of the principal amount of 12.875% Senior Notes. The 12.875% Senior Notes were redeemed at a redemption price of 112.875% of the principal amount thereof plus accrued and unpaid interest to, but not including, the redemption date in accordance with the provisions of the indenture governing the 12.875% Senior Notes. As part of the redemption of 35% of the 12.875% Senior Notes, the Company recorded a debt extinguishment charge of $9.4 million, including the premium and write-off of deferred financing costs, which was recorded in debt extinguishment costs in the consolidated statements of income. | |||||||||
6.125% Senior Notes due 2021 | |||||||||
On March 12, 2013, the Company issued $150.0 million of 6.125% Senior Notes due 2021 (the “6.125% Senior Notes”). The 6.125% Senior Notes mature on March 15, 2021 and bear interest at a rate of 6.125% per annum, payable semi-annually in arrears on March 15 and September 15 of each year. | |||||||||
The indenture governing the 6.125% Senior Notes contains covenants that, among other things, limit the Company’s ability and the ability of its restricted subsidiaries to: (i) pay dividends, redeem stock or make other distributions or investments; (ii) incur additional debt or issue certain preferred stock; (iii) transfer or sell assets; (iv) engage in certain transactions with affiliates; (v) create restrictions on dividends or other payments by the restricted subsidiaries; (vi) merge, consolidate or sell substantially all of the Company’s assets; and (vii) create liens on assets. | |||||||||
The 6.125% Senior Notes issued by the Company are guaranteed by each of the Company’s subsidiaries that guarantee the Company’s obligations under the Amended and Restated Credit Facility. The guarantees are full and unconditional and joint and several. | |||||||||
The Company may redeem the 6.125% Senior Notes at its option, in whole or part, at any time prior to March 15, 2016, at a price equal to 100% of the principal amount of the 6.125% Senior Notes redeemed, plus accrued and unpaid interest to the redemption date and plus an applicable premium. The Company may redeem the 6.125% Senior Notes, in whole or in part, on or after March 15, 2016, at the redemption prices set forth in the indenture governing the 6.125% Senior Notes plus accrued and unpaid interest to the redemption date. At any time on or before March 15, 2016, the Company may elect to redeem up to 35% of the aggregate principal amount of the 6.125% Senior Notes at a redemption price equal to 106.125% of the principal amount thereof, plus accrued and unpaid interest to the redemption date, with the net proceeds of one or more equity offerings. | |||||||||
5.125% Senior Notes due 2022 | |||||||||
On July 1, 2014, the Company issued $300.0 million of 5.125% Senior Notes. The 5.125% Senior Notes mature on July 1, 2022 and bear interest at a rate of 5.125% per annum, payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2015. | |||||||||
The indenture governing the 5.125% Senior Notes contains covenants that limit, among other things, the Company’s ability and the ability of its restricted subsidiaries to: (i) pay dividends, redeem stock or make other distributions or investments; (ii) incur additional debt or issue certain preferred stock; (iii) transfer or sell assets; (iv) engage in certain transactions with affiliates; (v) create restrictions on dividends or other payments by the restricted subsidiaries; (vi) merge, consolidate or sell substantially all of the Company’s assets and (vii) create liens on assets. | |||||||||
The 5.125% Senior Notes issued by the Company are guaranteed by each of the Company’s subsidiaries that guarantee the Company’s obligations under the Amended and Restated Credit Facility. The guarantees are full and unconditional and joint and several. | |||||||||
The Company may redeem the 5.125% Senior Notes at its option, in whole or part, at any time prior to July 1, 2017, at a price equal to 100% of the principal amount of the 5.125% Senior Notes redeemed, plus accrued and unpaid interest to the redemption date and plus an applicable premium. The Company may redeem the 5.125% Senior Notes, in whole or in part, on or after July 1, 2017, at the redemption prices set forth in the indenture governing the 5.125% Senior Notes plus accrued and unpaid interest to the redemption date. At any time on or before July 1, 2017, the Company may elect to redeem up to 35% of the aggregate principal amount of the 5.125% Senior Notes at a redemption price equal to 105.125% of the principal amount thereof, plus accrued and unpaid interest to the redemption date, with the net proceeds of one or more equity offerings. | |||||||||
9.0% and 9.5% Revenue Bonds | |||||||||
On November 11, 2012, in connection with the acquisition of Park Royal, the Company assumed debt of $23.0 million. The fair market value of the debt assumed was $25.6 million and resulted in a debt premium balance being recorded as of the acquisition date. The debt consisted of $7.5 million and $15.5 million of Lee County (Florida) Industrial Development Authority Healthcare Facilities Revenue Bonds, Series 2010 with stated interest rates of 9.0% and 9.5% (“9.0% and 9.5% Revenue Bonds”), respectively. The 9.0% bonds in the amount of $7.5 million have a maturity date of December 1, 2030 and require yearly principal payments beginning in 2013. The 9.5% bonds in the amount of $15.5 million have a maturity date of December 1, 2040 and require yearly principal payments beginning in 2031. The principal payments establish a bond sinking fund to be held with the trustee and shall be sufficient to redeem the principal amounts of the 9.0% and 9.5% Revenue Bonds on their respective maturity dates. As of September 30, 2014 and December 31, 2013, $2.3 million was recorded within other assets on the balance sheet related to the debt service reserve fund requirements. The yearly principal payments, which establish a bond sinking fund, will increase the debt service reserve fund requirements. The bond premium amount of $2.6 million is amortized as a reduction of interest expense over the life of the revenue bonds using the effective interest method. |
Equity
Equity | 9 Months Ended | |
Sep. 30, 2014 | ||
Equity [Abstract] | ' | |
Equity | ' | |
8 | Equity | |
Preferred Stock | ||
The Company’s amended and restated certificate of incorporation provides that up to 10,000,000 shares of preferred stock may be issued. The Board of Directors has the authority to issue preferred stock in one or more series and to fix for each series the voting powers (full, limited or none), and the designations, preferences and relative participating, optional or other special rights and qualifications, limitations or restrictions on the stock and the number of shares constituting any series and the designations of this series, without any further vote or action by the stockholders. | ||
Common Stock | ||
The Company’s amended and restated certificate of incorporation provides that up to 90,000,000 shares of common stock may be issued. Holders of the Company’s common stock are entitled to one vote for each share held of record on all matters on which stockholders may vote. There are no preemptive, conversion, redemption or sinking fund provisions applicable to shares of the Company’s common stock. In the event of liquidation, dissolution or winding up, holders of the Company’s common stock are entitled to share ratably in the assets available for distribution, subject to any prior rights of any holders of preferred stock then outstanding. Delaware law prohibits the Company from paying any dividends unless it has capital surplus or net profits available for this purpose. In addition, the Amended and Restated Senior Credit Facility imposes restrictions on the Company’s ability to pay dividends. | ||
Equity Offering | ||
On June 17, 2014, the Company completed the offering of 8,881,794 shares of common stock (including shares sold pursuant to the exercise of the over-allotment option that the Company granted to the underwriters as part of the offering) at a price of $44.00 per share. The net proceeds to the Company from the sale of the shares, after deducting the underwriting discount of $15.6 million and additional offering-related expenses of $0.8 million, were $374.3 million. The Company used the net offering proceeds to partially fund the purchase price for the acquisition of Partnerships in Care on July 1, 2014. |
EquityBased_Compensation
Equity-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Equity-Based Compensation | ' | ||||||||||||||||
9 | Equity-Based Compensation | ||||||||||||||||
Equity Incentive Plans | |||||||||||||||||
The Company issues stock-based awards, including stock options, restricted stock and restricted stock units, to certain officers, employees and non-employee directors under the Acadia Healthcare Company, Inc. Incentive Compensation Plan (the “Equity Incentive Plan”). As of September 30, 2014, a maximum of 4,700,000 shares of the Company’s common stock were authorized for issuance as stock options, restricted stock and restricted stock units or other share-based compensation under the Equity Incentive Plan, of which 2,664,749 were available for future grant. Stock options may be granted for terms of up to ten years. The Company recognizes expense on all share-based awards on a straight-line basis over the requisite service period of the entire award. Grants to employees generally vest in annual increments of 25% each year, commencing one year after the date of grant. The exercise prices of stock options are equal to the most recent closing price of the Company’s common stock on the date of grant. | |||||||||||||||||
The Company recognized $2.8 million and $1.3 million in equity-based compensation expense for the three months ended September 30, 2014 and 2013, respectively, and $7.0 million and $3.7 million for the nine months ended September 30, 2014 and 2013, respectively. As of September 30, 2014, there was $33.6 million of unrecognized compensation expense related to unvested options, restricted stock and restricted stock units, which is expected to be recognized over the remaining weighted average vesting period of 1.6 years. | |||||||||||||||||
As of September 30, 2014, there were no warrants outstanding and exercisable. The Company recognized a deferred income tax benefit of $1.1 million and $0.6 million for the three months ended September 30, 2014 and 2013, respectively, related to equity-based compensation expense. The Company recognized a deferred income tax benefit of $2.8 million and $1.5 million for the nine months ended September 30, 2014 and 2013, respectively, related to equity-based compensation expense. The actual tax benefit realized from stock options exercised during the three months ended September 30, 2014 and 2013 was $0.3 million and $0.1 million, respectively. The actual tax benefit realized from stock options exercised during the nine months ended September 30, 2014 and 2013 was $3.8 million and $1.3 million, respectively. | |||||||||||||||||
Stock option activity during 2013 and 2014 was as follows (aggregate intrinsic value in thousands): | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Options | Average | Average | Intrinsic | ||||||||||||||
Exercise Price | Remaining | Value | |||||||||||||||
Contractual | |||||||||||||||||
Term (in years) | |||||||||||||||||
Options outstanding at January 1, 2013 | 555,097 | $ | 13.13 | 7.53 | $ | 5,632 | |||||||||||
Options granted | 411,800 | 30.55 | 9.3 | 2,059 | |||||||||||||
Options exercised | (126,662 | ) | 9.36 | N/A | 2,803 | ||||||||||||
Options cancelled | (41,426 | ) | 23.5 | N/A | N/A | ||||||||||||
Options outstanding at December 31, 2013 | 798,809 | 21.93 | 8.2 | 10,700 | |||||||||||||
Options granted | 218,263 | 49.68 | 9.26 | 97 | |||||||||||||
Options exercised | (182,888 | ) | 15.31 | N/A | 4,994 | ||||||||||||
Options cancelled | (55,889 | ) | 33.65 | N/A | N/A | ||||||||||||
Options outstanding at September 30, 2014 | 778,295 | 31.92 | 8.01 | 14,349 | |||||||||||||
Options exercisable at December 31, 2013 | 133,647 | $ | 11.15 | 4.81 | $ | 3,472 | |||||||||||
Options exercisable at September 30, 2014 | 118,008 | $ | 29.04 | 5.42 | $ | 3,840 | |||||||||||
Restricted stock activity during 2013 and 2014 was as follows: | |||||||||||||||||
Number of | Weighted | ||||||||||||||||
Shares | Average | ||||||||||||||||
Grant-Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Unvested at January 1, 2013 | 318,063 | $ | 15.73 | ||||||||||||||
Granted | 290,845 | 31.31 | |||||||||||||||
Cancelled | (53,056 | ) | 21.27 | ||||||||||||||
Vested | (94,155 | ) | 15.52 | ||||||||||||||
Unvested at December 31, 2013 | 461,697 | $ | 24.96 | ||||||||||||||
Granted | 456,384 | 48.89 | |||||||||||||||
Cancelled | (68,769 | ) | 36 | ||||||||||||||
Vested | (113,376 | ) | 23.84 | ||||||||||||||
Unvested at September 30, 2014 | 735,936 | $ | 38.95 | ||||||||||||||
Restricted stock unit activity during 2013 and 2014 was as follows: | |||||||||||||||||
Number of | Weighted | ||||||||||||||||
Units | Average | ||||||||||||||||
Grant-Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Unvested at January 1, 2013 | 68,628 | $ | 16.11 | ||||||||||||||
Granted | 72,876 | 29.39 | |||||||||||||||
Cancelled | — | — | |||||||||||||||
Vested | (45,753 | ) | 16.11 | ||||||||||||||
Unvested at December 31, 2013 | 95,751 | $ | 23.05 | ||||||||||||||
Granted | 108,449 | 50.75 | |||||||||||||||
Cancelled | — | — | |||||||||||||||
Vested | (79,087 | ) | 21.81 | ||||||||||||||
Unvested at September 30, 2014 | 125,113 | $ | 38.73 | ||||||||||||||
The grant-date fair value of the Company’s stock options is estimated using the Black-Scholes option pricing model. The following table summarizes the grant-date fair value of options and the assumptions used to develop the fair value estimates for options granted during the nine months ended September 30, 2014 and year ended December 31, 2013: | |||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||
Weighted average grant-date fair value of options | $ | 17.8 | $ | 11.62 | |||||||||||||
Risk-free interest rate | 1.7 | % | 1 | % | |||||||||||||
Expected volatility | 36 | % | 40 | % | |||||||||||||
Expected life (in years) | 5.5 | 5.5 | |||||||||||||||
The Company’s estimate of expected volatility for stock options is based upon the volatility of guideline companies given the lack of sufficient historical trading experience of the Company’s common stock. The risk-free interest rate is the approximate yield on United States Treasury Strips having a life equal to the expected option life on the date of grant. The expected life is an estimate of the number of years an option will be held before it is exercised. |
Income_Taxes
Income Taxes | 9 Months Ended | |
Sep. 30, 2014 | ||
Income Tax Disclosure [Abstract] | ' | |
Income Taxes | ' | |
10 | Income Taxes | |
The provision for income taxes for continuing operations for the three months ended September 30, 2014 and 2013 reflects effective tax rates of 23.2% and 34.7%, respectively. The provision for income taxes for continuing operations for the nine months ended September 30, 2014 and 2013 reflects effective tax rates of 33.3% and 37.4%, respectively. The decrease in the tax rate for the three and nine months ended September 30, 2014 was primarily attributable to the Company’s acquisition of Partnerships in Care, which is located in a lower taxing jurisdiction and for which earnings are permanently reinvested. |
Derivatives
Derivatives | 9 Months Ended | |
Sep. 30, 2014 | ||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |
Derivatives | ' | |
11 | Derivatives | |
The Company entered into two foreign currency forward contracts in June 2014 in connection with the Partnerships in Care acquisition. The foreign currency forward contracts limited the economic risk of changes in the foreign exchange rate between US Dollars (“USD”) and British Pounds (“GBP”) associated with the payment of the purchase price in GBP on July 1, 2014. These foreign currency forward contracts did not meet the hedge accounting criteria under Accounting Standards Codification 815, Derivatives and Hedging. As such, gains associated with changes in fair value of $1.5 million and $15.3 million for the three and nine months ended September 30, 2014, respectively, have been recorded in the consolidated statements of income. The final fair value of the foreign currency forward contracts settled on July 1, 2014. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
12 | Fair Value Measurements | ||||||||||||||||
The carrying amounts reported for cash and cash equivalents, accounts receivable, other current assets, accounts payable and other current liabilities approximate fair value because of the short-term maturity of these instruments. | |||||||||||||||||
The carrying amounts and fair values of the Company’s Amended and Restated Senior Credit Facility, 12.875% Senior Notes, 6.125% Senior Notes, 5.125% Senior Notes, 9.0% and 9.5% Revenue Bonds, contingent consideration liability and foreign currency derivatives as of September 30, 2014 and December 31, 2013 were as follows (in thousands): | |||||||||||||||||
Carrying Amount | Fair Value | ||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Amended and Restated Senior Credit Facility | $ | 458,375 | $ | 346,000 | $ | 458,375 | $ | 346,000 | |||||||||
12.875% Senior Notes due 2018 | $ | 96,366 | $ | 96,216 | $ | 111,881 | $ | 118,706 | |||||||||
6.125% Senior Notes due 2021 | $ | 150,000 | $ | 150,000 | $ | 152,625 | $ | 155,625 | |||||||||
5.125% Senior Notes due 2022 | $ | 300,000 | — | $ | 290,250 | — | |||||||||||
9.0% and 9.5% Revenue Bonds | $ | 24,581 | $ | 24,920 | $ | 24,581 | $ | 24,920 | |||||||||
Contingent consideration liabilities | $ | 3,467 | $ | 6,500 | $ | 3,467 | $ | 6,500 | |||||||||
The Company’s Amended and Restated Senior Credit Facility, 12.875% Senior Notes, 6.125% Senior Notes, 5.125% Senior Notes and 9.0% and 9.5% Revenue Bonds were categorized as Level 2 in the GAAP fair value hierarchy. Fair values were based on trading activity among the Company’s lenders and the average bid and ask price as determined using published rates. | |||||||||||||||||
The fair value of the contingent consideration liabilities at September 30, 2014 were categorized as Level 3 in the GAAP fair value hierarchy. The contingent consideration liabilities were valued using a probability-weighted discounted cash flow method. This analysis reflected the contractual terms of the purchase agreements and utilized assumptions with regard to future earnings, probabilities of achieving such future earnings and a discount rate. Significant increases with respect to assumptions as to future earnings and probabilities of achieving such future earnings would result in higher fair value measurement while an increase in the discount rate would result in a lower fair value measurement. During the nine months ended September 30, 2014, the Company changed its projections of the timing of future payments for the Park Royal contingent consideration liability. This change resulted in a $0.5 million increase in the fair value of the contingent consideration liability, which was recorded in transaction-related expenses in the consolidated statements of income. During the nine months ended September 30, 2014, the Company paid $5.0 million of the estimated $7.0 million Park Royal contingent consideration liability due to the facility achieving certain earnings targets. The Company may make a cash earn-out payment of up to $6.0 million, contingent upon achievement by McCallum of certain operating performance targets for the one-year period ending October 31, 2015. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |
Sep. 30, 2014 | ||
Commitments and Contingencies Disclosure [Abstract] | ' | |
Commitments and Contingencies | ' | |
13 | Commitments and Contingencies | |
The Company is, from time to time, subject to various claims and legal actions that arise in the ordinary course of the Company’s business, including claims for damages for personal injuries, medical malpractice, breach of contract, tort and employment related claims. In these actions, plaintiffs request a variety of damages, including, in some instances, punitive and other types of damages that may not be covered by insurance. In the opinion of management, the Company is not currently a party to any proceeding that would individually or in the aggregate have a material adverse effect on the Company’s business, financial condition or results of operations. |
Recently_Issued_Accounting_Sta
Recently Issued Accounting Standards | 9 Months Ended | |
Sep. 30, 2014 | ||
Accounting Changes and Error Corrections [Abstract] | ' | |
Recently Issued Accounting Standards | ' | |
14 | Recently Issued Accounting Standards | |
In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity” (“ASU 2014-08”). ASU 2014-08 raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. ASU 2014-08 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. Early adoption is permitted. Management is evaluating the impact of ASU 2014-08 on the Company’s consolidated financial statements and does not expect ASU 2014-08 to have a significant impact on the Company’s consolidated financial statements. | ||
In May 2014, the FASB and the International Accounting Standards Board issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09’s core principal is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early adoption is not permitted. Management is evaluating the impact of ASU 2014-09 on the Company’s consolidated financial statements. |
Subsequent_Events
Subsequent Events | 9 Months Ended | |
Sep. 30, 2014 | ||
Subsequent Events [Abstract] | ' | |
Subsequent Events | ' | |
15 | Subsequent Events | |
On October 29, 2014, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) among the Company, Copper Acquisition Co., Inc., a newly formed Delaware corporation wholly owned by the Company (the “Merger Subsidiary”), and CRC Health Group, Inc., a Delaware corporation (“CRC”), pursuant to which, among other things, the Merger Subsidiary will be merged with and into CRC with CRC surviving as a wholly owned subsidiary of the Company (the “Merger”). CRC is a leading provider of treatment services related to substance abuse, troubled youth, and other addiction diseases and behavioral disorders. At September 30, 2014, CRC operated 120 facilities in 30 states. | ||
Pursuant to the Merger Agreement, among other things, at the effective time of the Merger (i) the Company will issue up to 6.3 million shares of the Company’s common stock, $0.01 par value per share, in the aggregate to certain holders of CRC common stock in exchange therefor; (ii) all other CRC securities and the equity awards of CRC will be cancelled and the holder of such other securities and equity awards will be entitled to receive an amount in cash in exchange therefor based on the market value of the Company’s common stock, and (iii) all outstanding indebtedness of CRC will be repaid. The estimated aggregate consideration to be paid by the Company under the Merger Agreement is approximately $1.175 billion (of which a portion will be used for the repayment of net indebtedness of CRC and its subsidiaries at the closing of the Merger). |
Segment_Information
Segment Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Information | ' | ||||||||||||||||
16 | Segment Information | ||||||||||||||||
The Company operates in one line of business, which is operating inpatient psychiatric facilities, residential treatment centers, group homes, substance abuse facilities and facilities providing outpatient behavioral healthcare services. As management reviews the operating results of its facilities in the United States (the U.S. Facilities) and its facilities in the United Kingdom (the U.K. Facilities) separately to assess performance and make decisions, the Company’s operating segments include its U.S. Facilities and U.K. Facilities. At September 30, 2014, the U.S. Facilities included 53 behavioral healthcare facilities with over 4,500 licensed beds in 24 states and Puerto Rico, and the U.K. Facilities included 23 behavioral healthcare facilities with over 1,200 licensed beds in the United Kingdom. | |||||||||||||||||
The following tables set forth the financial information by operating segment, including a reconciliation of Segment EBITDA to income from continuing operations before income taxes (in thousands): | |||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||
U.S. Facilities | U.K. Facilities | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Revenue | $ | 217,427 | $ | 76,026 | $ | 1,026 | $ | 294,479 | |||||||||
Segment EBITDA (1) | 53,814 | 20,253 | (9,001 | ) | 65,066 | ||||||||||||
Plus (less): | |||||||||||||||||
Equity-based compensation expense | — | — | (2,805 | ) | (2,805 | ) | |||||||||||
Gain on foreign currency derivatives | — | — | 1,527 | 1,527 | |||||||||||||
Transaction-related expenses | — | (811 | ) | (5,428 | ) | (6,239 | ) | ||||||||||
Interest expense, net | (517 | ) | (9,451 | ) | (4,100 | ) | (14,068 | ) | |||||||||
Depreciation and amortization | (5,475 | ) | (4,094 | ) | (756 | ) | (10,325 | ) | |||||||||
Income (loss) from continuing operations before income taxes | $ | 47,822 | $ | 5,897 | $ | (20,563 | ) | $ | 33,156 | ||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||
U.S. Facilities | U.K. Facilities | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Revenue | $ | 184,071 | $ | — | $ | 631 | $ | 184,702 | |||||||||
Segment EBITDA (1) | 45,115 | — | (6,634 | ) | 38,481 | ||||||||||||
Plus (less): | |||||||||||||||||
Equity-based compensation expense | — | — | (1,331 | ) | (1,331 | ) | |||||||||||
Transaction-related expenses | — | — | (984 | ) | (984 | ) | |||||||||||
Interest expense, net | (926 | ) | — | (8,539 | ) | (9,465 | ) | ||||||||||
Depreciation and amortization | (3,727 | ) | — | (687 | ) | (4,414 | ) | ||||||||||
Income (loss) from continuing operations before income taxes | $ | 40,462 | $ | — | $ | (18,175 | ) | $ | 22,287 | ||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||
U.S. Facilities | U.K. Facilities | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Revenue | $ | 630,825 | $ | 76,026 | $ | 2,849 | $ | 709,700 | |||||||||
Segment EBITDA (1) | 154,377 | 20,253 | (25,568 | ) | 149,062 | ||||||||||||
Plus (less): | |||||||||||||||||
Equity-based compensation expense | — | — | (6,975 | ) | (6,975 | ) | |||||||||||
Gain on foreign currency derivatives | — | — | 15,262 | 15,262 | |||||||||||||
Transaction-related expenses | — | (811 | ) | (10,023 | ) | (10,834 | ) | ||||||||||
Interest expense, net | (1,665 | ) | (9,451 | ) | (22,389 | ) | (33,505 | ) | |||||||||
Depreciation and amortization | (15,381 | ) | (4,094 | ) | (2,221 | ) | (21,696 | ) | |||||||||
Income (loss) from continuing operations before income taxes | $ | 137,331 | $ | 5,897 | $ | (51,914 | ) | $ | 91,314 | ||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||
U.S. Facilities | U.K. Facilities | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Revenue | $ | 521,368 | $ | — | $ | 2,041 | $ | 523,409 | |||||||||
Segment EBITDA (1) | 126,017 | — | (19,880 | ) | 106,137 | ||||||||||||
Plus (less): | |||||||||||||||||
Equity-based compensation expense | — | — | (3,744 | ) | (3,744 | ) | |||||||||||
Debt extinguishment costs | — | — | (9,350 | ) | (9,350 | ) | |||||||||||
Transaction-related expenses | — | — | (3,813 | ) | (3,813 | ) | |||||||||||
Interest expense, net | (2,114 | ) | — | (25,558 | ) | (27,672 | ) | ||||||||||
Depreciation and amortization | (10,375 | ) | — | (1,873 | ) | (12,248 | ) | ||||||||||
Income (loss) from continuing operations before income taxes | $ | 113,528 | $ | — | $ | (64,218 | ) | $ | 49,310 | ||||||||
U.S. Facilities | U.K. Facilities | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Goodwill: | |||||||||||||||||
Balance at January 1, 2014 | $ | 661,549 | $ | — | $ | — | $ | 661,549 | |||||||||
Increase from 2014 acquisitions | 31,586 | 117,297 | — | 148,883 | |||||||||||||
Foreign currency translation loss | — | (6,199 | ) | — | (6,199 | ) | |||||||||||
Other | 414 | — | — | 414 | |||||||||||||
Balance at September 30, 2014 | $ | 693,549 | $ | 111,098 | $ | — | $ | 804,647 | |||||||||
September 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Assets: | |||||||||||||||||
U.S. Facilities | $ | 1,291,961 | $ | 1,155,813 | |||||||||||||
U.K. Facilities | 743,288 | — | |||||||||||||||
Corporate and Other | 105,219 | 68,846 | |||||||||||||||
$ | 2,140,468 | $ | 1,224,659 | ||||||||||||||
-1 | Segment EBITDA is defined as income from continuing operations before provision for income taxes, equity-based compensation expense, debt extinguishment costs, gain on foreign currency derivatives, transaction-related expenses, interest expense and depreciation and amortization. The Company uses Segment EBITDA as an analytical indicator to measure the performance of the Company’s segments and to develop strategic objectives and operating plans for those segments. Segment EBITDA is commonly used as an analytical indicator within the health care industry, and also serves as a measure of leverage capacity and debt service ability. Segment EBITDA should not be considered as a measure of financial performance under generally accepted accounting principles, and the items excluded from Segment EBITDA are significant components in understanding and assessing financial performance. Because Segment EBITDA is not a measurement determined in accordance with generally accepted accounting principles and is thus susceptible to varying calculations, Segment EBITDA, as presented, may not be comparable to other similarly titled measures of other companies. |
Partnerships_in_Care_Pension_P
Partnerships in Care Pension Plan | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||
Partnerships in Care Pension Plan | ' | ||||
17 | Partnerships in Care Pension Plan | ||||
As part of the acquisition of Partnerships in Care on July 1, 2014, the Company assumed a frozen noncontributory defined benefit retirement plan (“Partnerships in Care Pension Plan”) covering substantially all of the employees of Partnerships in Care and its subsidiaries prior to May 1, 2005. The benefits under the Partnerships in Care Pension Plan are primarily based on years of service and final average earnings. | |||||
The Partnerships in Care Pension Plan pension liability was $6.3 million as of July 1, 2014. The fair value of the liabilities and assets as of September 30, 2014 were approximately $62.8 million and $57.0 million, respectively. | |||||
The following table summarizes changes in the Partnerships in Care Pension Plan pension liability (in thousands): | |||||
Pension liability at July 1, 2014 | $ | 6,302 | |||
Employer contributions | (1,097 | ) | |||
Net pension benefit expense | 897 | ||||
Foreign currency translation loss | (327 | ) | |||
Pension liability at September 30, 2014 | $ | 5,775 | |||
A pension liability of $5.8 million is recorded within other liabilities on the consolidated balance sheet as of September 30, 2014. |
Financial_Information_for_the_
Financial Information for the Company and Its Subsidiaries | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||
Financial Information for the Company and Its Subsidiaries | ' | ||||||||||||||||||||
18 | Financial Information for the Company and Its Subsidiaries | ||||||||||||||||||||
The Company conducts substantially all of its business through its subsidiaries. The 12.875% Senior Notes, 6.125% Senior Notes and 5.125% Senior Notes are jointly and severally guaranteed on an unsecured senior basis by all of the Company’s subsidiaries that guarantee the Company’s obligations under the Amended and Restated Credit Facility. Presented below is condensed consolidating financial information for the Company and its subsidiaries as of September 30, 2014 and December 31, 2013, and for the three and nine months ended September 30, 2014 and 2013. The information segregates the parent company (Acadia Healthcare Company, Inc.), the combined wholly-owned subsidiary guarantors, the combined non-guarantor subsidiaries and eliminations. | |||||||||||||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 10,421 | $ | 31,758 | $ | — | $ | 42,179 | |||||||||||
Accounts receivable, net | — | 111,706 | 18,547 | — | 130,253 | ||||||||||||||||
Deferred tax assets | — | 18,894 | 888 | — | 19,782 | ||||||||||||||||
Other current assets | — | 31,772 | 5,854 | — | 37,626 | ||||||||||||||||
Total current assets | — | 172,793 | 57,047 | — | 229,840 | ||||||||||||||||
Property and equipment, net | — | 412,958 | 613,420 | — | 1,026,378 | ||||||||||||||||
Goodwill | — | 596,214 | 208,433 | — | 804,647 | ||||||||||||||||
Intangible assets, net | — | 19,015 | 2,606 | — | 21,621 | ||||||||||||||||
Deferred tax assets – noncurrent | 3,347 | — | 16,916 | (4,330 | ) | 15,933 | |||||||||||||||
Investment in subsidiaries | 1,693,275 | — | — | (1,693,275 | ) | — | |||||||||||||||
Other assets | 204,562 | 17,926 | 2,321 | (182,760 | ) | 42,049 | |||||||||||||||
Total assets | $ | 1,901,184 | $ | 1,218,906 | $ | 900,743 | $ | (1,880,365 | ) | $ | 2,140,468 | ||||||||||
Current liabilities: | |||||||||||||||||||||
Current portion of long-term debt | $ | 13,125 | $ | — | $ | 195 | $ | — | $ | 13,320 | |||||||||||
Accounts payable | — | 34,774 | 8,486 | — | 43,260 | ||||||||||||||||
Accrued salaries and benefits | — | 42,515 | 13,698 | — | 56,213 | ||||||||||||||||
Other accrued liabilities | 9,867 | 12,620 | 7,260 | — | 29,747 | ||||||||||||||||
Total current liabilities | 22,992 | 89,909 | 29,639 | — | 142,540 | ||||||||||||||||
Long-term debt | 991,616 | — | 207,146 | (182,760 | ) | 1,016,002 | |||||||||||||||
Deferred tax liabilities – noncurrent | — | 19,512 | 49,589 | (4,330 | ) | 64,771 | |||||||||||||||
Other liabilities | — | 24,361 | 6,218 | — | 30,579 | ||||||||||||||||
Total liabilities | 1,014,608 | 133,782 | 292,592 | (187,090 | ) | 1,253,892 | |||||||||||||||
Total equity | 886,576 | 1,085,124 | 608,151 | (1,693,275 | ) | 886,576 | |||||||||||||||
Total liabilities and equity | $ | 1,901,184 | $ | 1,218,906 | $ | 900,743 | $ | (1,880,365 | ) | $ | 2,140,468 | ||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 6,494 | $ | (1,925 | ) | $ | 4,569 | ||||||||||
Accounts receivable, net | — | 86,597 | 9,288 | — | 95,885 | ||||||||||||||||
Deferred tax assets | — | 15,284 | 419 | — | 15,703 | ||||||||||||||||
Other current assets | — | 27,886 | 1,083 | — | 28,969 | ||||||||||||||||
Total current assets | — | 129,767 | 17,284 | (1,925 | ) | 145,126 | |||||||||||||||
Property and equipment, net | — | 340,175 | 29,934 | — | 370,109 | ||||||||||||||||
Goodwill | — | 564,539 | 97,010 | — | 661,549 | ||||||||||||||||
Intangible assets, net | — | 18,578 | 1,990 | — | 20,568 | ||||||||||||||||
Investment in subsidiaries | 1,034,160 | — | — | (1,034,160 | ) | — | |||||||||||||||
Other assets | 46,236 | 11,675 | 8,082 | (38,686 | ) | 27,307 | |||||||||||||||
Total assets | $ | 1,080,396 | $ | 1,064,734 | $ | 154,300 | $ | (1,074,771 | ) | $ | 1,224,659 | ||||||||||
Current liabilities: | |||||||||||||||||||||
Current portion of long-term debt | $ | 15,000 | $ | — | $ | 195 | $ | — | $ | 15,195 | |||||||||||
Accounts payable | — | 36,289 | 1,662 | (1,925 | ) | 36,026 | |||||||||||||||
Accrued salaries and benefits | — | 36,027 | 1,694 | — | 37,721 | ||||||||||||||||
Other accrued liabilities | 4,876 | 19,982 | 890 | — | 25,748 | ||||||||||||||||
Total current liabilities | 19,876 | 92,298 | 4,441 | (1,925 | ) | 114,690 | |||||||||||||||
Long-term debt | 577,216 | — | 57,650 | (32,925 | ) | 601,941 | |||||||||||||||
Deferred tax liabilities – noncurrent | 2,594 | 11,138 | — | (5,761 | ) | 7,971 | |||||||||||||||
Other liabilities | — | 19,347 | — | — | 19,347 | ||||||||||||||||
Total liabilities | 599,686 | 122,783 | 62,091 | (40,611 | ) | 743,949 | |||||||||||||||
Total equity | 480,710 | 941,951 | 92,209 | (1,034,160 | ) | 480,710 | |||||||||||||||
Total liabilities and equity | $ | 1,080,396 | $ | 1,064,734 | $ | 154,300 | $ | (1,074,771 | ) | $ | 1,224,659 | ||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Loss | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Revenue before provision for doubtful accounts | $ | — | $ | 212,376 | $ | 90,625 | $ | — | $ | 303,001 | |||||||||||
Provision for doubtful accounts | — | (7,444 | ) | (1,078 | ) | — | (8,522 | ) | |||||||||||||
Revenue | — | 204,932 | 89,547 | — | 294,479 | ||||||||||||||||
Salaries, wages and benefits | 2,805 | 117,261 | 48,566 | — | 168,632 | ||||||||||||||||
Professional fees | — | 9,816 | 5,062 | — | 14,878 | ||||||||||||||||
Supplies | — | 10,784 | 3,278 | — | 14,062 | ||||||||||||||||
Rents and leases | — | 2,419 | 795 | — | 3,214 | ||||||||||||||||
Other operating expenses | — | 18,979 | 12,453 | — | 31,432 | ||||||||||||||||
Depreciation and amortization | — | 5,874 | 4,451 | — | 10,325 | ||||||||||||||||
Interest expense, net | 4,096 | 6,439 | 3,533 | — | 14,068 | ||||||||||||||||
Gain on foreign currency derivatives | (1,527 | ) | — | — | — | (1,527 | ) | ||||||||||||||
Transaction-related expenses | — | 5,428 | 811 | — | 6,239 | ||||||||||||||||
Total expenses | 5,374 | 177,000 | 78,949 | — | 261,323 | ||||||||||||||||
(Loss) income from continuing operations before income taxes | (5,374 | ) | 27,932 | 10,598 | — | 33,156 | |||||||||||||||
Equity in earnings of subsidiaries | 28,607 | — | — | (28,607 | ) | — | |||||||||||||||
Provision for income taxes | (2,169 | ) | 12,517 | (2,645 | ) | — | 7,703 | ||||||||||||||
Income (loss) from continuing operations | 25,402 | 15,415 | 13,243 | (28,607 | ) | 25,453 | |||||||||||||||
Loss from discontinued operations, net of income taxes | — | (51 | ) | — | — | (51 | ) | ||||||||||||||
Net income (loss) | $ | 25,402 | $ | 15,364 | $ | 13,243 | $ | (28,607 | ) | $ | 25,402 | ||||||||||
Other comprehensive loss: | |||||||||||||||||||||
Foreign currency translation loss | — | — | (36,857 | ) | — | (36,857 | ) | ||||||||||||||
Other comprehensive loss | — | — | (36,857 | ) | — | (36,857 | ) | ||||||||||||||
Comprehensive income (loss) | $ | 25,402 | $ | 15,364 | $ | (23,614 | ) | $ | (28,607 | ) | $ | (11,455 | ) | ||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
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 | ) | — | |||||||||||||||
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 | ||||||||||
Comprehensive income (loss) | $ | 14,364 | $ | 20,402 | $ | 685 | $ | (21,087 | ) | $ | 14,364 | ||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Revenue before provision for doubtful accounts | $ | — | $ | 612,801 | $ | 116,983 | $ | — | $ | 729,784 | |||||||||||
Provision for doubtful accounts | — | (17,908 | ) | (2,176 | ) | — | (20,084 | ) | |||||||||||||
Revenue | — | 594,893 | 114,807 | — | 709,700 | ||||||||||||||||
Salaries, wages and benefits | 6,975 | 342,890 | 58,815 | — | 408,680 | ||||||||||||||||
Professional fees | — | 28,760 | 7,391 | — | 36,151 | ||||||||||||||||
Supplies | — | 30,137 | 4,585 | — | 34,722 | ||||||||||||||||
Rents and leases | — | 7,527 | 1,345 | — | 8,872 | ||||||||||||||||
Other operating expenses | — | 62,579 | 16,609 | — | 79,188 | ||||||||||||||||
Depreciation and amortization | — | 16,540 | 5,156 | — | 21,696 | ||||||||||||||||
Interest expense, net | 22,409 | 6,439 | 4,657 | — | 33,505 | ||||||||||||||||
Gain on foreign currency derivatives | (15,262 | ) | — | — | — | (15,262 | ) | ||||||||||||||
Transaction-related expenses | — | 10,023 | 811 | — | 10,834 | ||||||||||||||||
Total expenses | 14,122 | 504,895 | 99,369 | — | 618,386 | ||||||||||||||||
(Loss) income from continuing operations before income taxes | (14,122 | ) | 89,998 | 15,438 | — | 91,314 | |||||||||||||||
Equity in earnings of subsidiaries | 69,446 | — | — | (69,446 | ) | — | |||||||||||||||
Provision for income taxes | (5,587 | ) | 36,766 | (796 | ) | — | 30,383 | ||||||||||||||
Income (loss) from continuing operations | 60,911 | 53,232 | 16,234 | (69,446 | ) | 60,931 | |||||||||||||||
Loss from discontinued operations, net of income taxes | — | (20 | ) | — | — | (20 | ) | ||||||||||||||
Net income (loss) | $ | 60,911 | $ | 53,212 | $ | 16,234 | $ | (69,446 | ) | $ | 60,911 | ||||||||||
Other comprehensive loss: | |||||||||||||||||||||
Foreign currency translation loss | — | — | (36,857 | ) | — | (36,857 | ) | ||||||||||||||
Other comprehensive loss | — | — | (36,857 | ) | — | (36,857 | ) | ||||||||||||||
Comprehensive income (loss) | $ | 60,911 | $ | 53,212 | $ | (20,623 | ) | $ | (69,446 | ) | $ | 24,054 | |||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
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 | ) | — | |||||||||||||||
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 | ||||||||||
Comprehensive income (loss) | $ | 30,299 | $ | 53,909 | $ | 431 | $ | (54,340 | ) | $ | 30,299 | ||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Operating activities: | |||||||||||||||||||||
Net income (loss) | $ | 60,911 | $ | 53,212 | $ | 16,234 | $ | (69,446 | ) | $ | 60,911 | ||||||||||
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | |||||||||||||||||||||
Equity in earnings of subsidiaries | (69,446 | ) | — | — | 69,446 | — | |||||||||||||||
Depreciation and amortization | — | 16,540 | 5,156 | — | 21,696 | ||||||||||||||||
Amortization of debt issuance costs | 1,891 | — | 338 | — | 2,229 | ||||||||||||||||
Equity-based compensation expense | 6,975 | — | — | — | 6,975 | ||||||||||||||||
Deferred income tax expense | (754 | ) | 3,218 | 2,181 | — | 4,645 | |||||||||||||||
Loss from discontinued operations, net of taxes | — | 20 | — | — | 20 | ||||||||||||||||
Gain on foreign currency derivatives | (15,262 | ) | — | — | — | (15,262 | ) | ||||||||||||||
Other | — | 134 | 29 | — | 163 | ||||||||||||||||
Change in operating assets and liabilities, net of effect of acquisitions: | |||||||||||||||||||||
Accounts receivable, net | — | (23,347 | ) | (2,048 | ) | — | (25,395 | ) | |||||||||||||
Other current assets | — | 1,067 | 255 | — | 1,322 | ||||||||||||||||
Other assets | 165 | (2,086 | ) | — | (165 | ) | (2,086 | ) | |||||||||||||
Accounts payable and other accrued liabilities | — | (2,752 | ) | 3,830 | — | 1,078 | |||||||||||||||
Accrued salaries and benefits | — | 6,546 | 2,426 | — | 8,972 | ||||||||||||||||
Other liabilities | — | 3,549 | 256 | — | 3,805 | ||||||||||||||||
Net cash (used in) provided by continuing operating activities | (15,520 | ) | 56,101 | 28,657 | (165 | ) | 69,073 | ||||||||||||||
Net cash used in discontinued operating activities | — | (27 | ) | — | — | (27 | ) | ||||||||||||||
Net cash (used in) provided by operating activities | (15,520 | ) | 56,074 | 28,657 | (165 | ) | 69,046 | ||||||||||||||
Investing activities: | |||||||||||||||||||||
Cash paid for acquisitions, net of cash acquired | — | (722,797 | ) | — | — | (722,797 | ) | ||||||||||||||
Cash paid for capital expenditures | — | (60,223 | ) | (10,457 | ) | — | (70,680 | ) | |||||||||||||
Cash paid for real estate acquisitions | — | (22,247 | ) | — | — | (22,247 | ) | ||||||||||||||
Settlement of foreign currency derivatives | 15,262 | — | — | — | 15,262 | ||||||||||||||||
Other | — | (733 | ) | — | — | (733 | ) | ||||||||||||||
Net cash used in investing activities | 15,262 | (806,000 | ) | (10,457 | ) | — | (801,195 | ) | |||||||||||||
Financing activities: | |||||||||||||||||||||
Borrowings on long-term debt | 307,500 | — | — | — | 307,500 | ||||||||||||||||
Borrowings on revolving credit facility | 230,500 | — | — | — | 230,500 | ||||||||||||||||
Principal payments on revolving credit facility | (120,000 | ) | — | — | — | (120,000 | ) | ||||||||||||||
Principal payments on long-term debt | (5,625 | ) | — | (165 | ) | 165 | (5,625 | ) | |||||||||||||
Payment of debt issuance costs | (10,909 | ) | — | — | — | (10,909 | ) | ||||||||||||||
Issuance of common stock, net | 374,431 | — | — | — | 374,431 | ||||||||||||||||
Common stock withheld for minimum statutory taxes, net | (3,477 | ) | — | — | — | (3,477 | ) | ||||||||||||||
Excess tax benefit from equity awards | 3,779 | — | — | — | 3,779 | ||||||||||||||||
Cash paid for contingent consideration | — | (5,000 | ) | — | — | (5,000 | ) | ||||||||||||||
Cash (used in) provided by intercompany activity | (775,941 | ) | 765,347 | 8,669 | 1,925 | — | |||||||||||||||
Net cash provided by financing activities | 258 | 760,347 | 8,504 | 2,090 | 771,199 | ||||||||||||||||
Effect of exchange rate changes on cash | — | — | (1,440 | ) | — | (1,440 | ) | ||||||||||||||
Net increase in cash and cash equivalents | — | 10,421 | 25,264 | 1,925 | 37,610 | ||||||||||||||||
Cash and cash equivalents at beginning of the period | — | — | 6,494 | (1,925 | ) | 4,569 | |||||||||||||||
Cash and cash equivalents at end of the period | $ | — | $ | 10,421 | $ | 31,758 | $ | — | $ | 42,179 | |||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Operating activities: | |||||||||||||||||||||
Net income (loss) | $ | 30,299 | $ | 53,909 | $ | 431 | $ | (54,340 | ) | $ | 30,299 | ||||||||||
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | |||||||||||||||||||||
Equity in earnings of subsidiaries | (54,340 | ) | — | — | 54,340 | — | |||||||||||||||
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: | |||||||||||||||||||||
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 | — | (2,307 | ) | 193 | — | (2,114 | ) | ||||||||||||||
Other liabilities | — | 7,693 | (4,155 | ) | — | 3,538 | |||||||||||||||
Net cash (used in) provided by continuing operating activities | (9,331 | ) | 58,588 | (2,488 | ) | — | 46,769 | ||||||||||||||
Net cash used in discontinued operating activities | — | (541 | ) | — | — | (541 | ) | ||||||||||||||
Net cash (used in) provided by operating activities | (9,331 | ) | 58,047 | (2,488 | ) | — | 46,228 | ||||||||||||||
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 | ||||||||||||||||
Borrowings on revolving credit facility | 27,500 | — | — | — | 27,500 | ||||||||||||||||
Principal payments on revolving credit facility | (8,000 | ) | — | — | — | (8,000 | ) | ||||||||||||||
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 | ) | ||||||||||||||
Common stock withheld for minimum statutory taxes, net | (1,120 | ) | — | — | — | (1,120 | ) | ||||||||||||||
Excess tax benefit from equity awards | 1,265 | — | — | — | 1,265 | ||||||||||||||||
Cash (used in) provided by intercompany activity | (91,123 | ) | 84,393 | 8,046 | (1,316 | ) | — | ||||||||||||||
Net cash provided by (used in) financing activities | 9,331 | 84,393 | 8,046 | (1,316 | ) | 100,454 | |||||||||||||||
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 | ||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Computation of Basic and Diluted Earnings Per Share | ' | ||||||||||||||||
The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2014 and 2013 (in thousands except per share amounts): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator: | |||||||||||||||||
Basic and diluted earnings per share: | |||||||||||||||||
Income from continuing operations | $ | 25,453 | $ | 14,546 | $ | 60,931 | $ | 30,871 | |||||||||
Loss from discontinued operations | (51 | ) | (182 | ) | (20 | ) | (572 | ) | |||||||||
Net income | $ | 25,402 | $ | 14,364 | $ | 60,911 | $ | 30,299 | |||||||||
Denominator: | |||||||||||||||||
Weighted average shares outstanding for basic earnings per share | 59,175 | 50,040 | 53,670 | 49,987 | |||||||||||||
Effect of dilutive instruments | 234 | 303 | 252 | 226 | |||||||||||||
Shares used in computing diluted earnings per common share | 59,409 | 50,343 | 53,922 | 50,213 | |||||||||||||
Basic earnings per share: | |||||||||||||||||
Income from continuing operations | $ | 0.43 | $ | 0.29 | $ | 1.14 | $ | 0.62 | |||||||||
Loss from discontinued operations | — | — | — | (0.01 | ) | ||||||||||||
Net income | $ | 0.43 | $ | 0.29 | $ | 1.14 | $ | 0.61 | |||||||||
Diluted earnings per share: | |||||||||||||||||
Income from continuing operations | $ | 0.43 | $ | 0.29 | $ | 1.13 | $ | 0.61 | |||||||||
Loss from discontinued operations | — | — | — | (0.01 | ) | ||||||||||||
Net income | $ | 0.43 | $ | 0.29 | $ | 1.13 | $ | 0.6 | |||||||||
Acquisitions_Tables
Acquisitions (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Preliminary Fair Values of Assets Acquired and Liabilities Assumed at Corresponding Acquisition Date | ' | ||||||||||||||||
The preliminary fair values of assets acquired and liabilities assumed, at the corresponding acquisition dates, during the nine months ended September 30, 2014 in connection with the McCallum, Partnerships in Care and Pacific Grove acquisitions were as follows (in thousands): | |||||||||||||||||
Partnerships in Care | Other | Total | |||||||||||||||
Cash | $ | 11,674 | $ | — | $ | 11,674 | |||||||||||
Accounts receivable | 7,684 | 2,072 | 9,756 | ||||||||||||||
Prepaid expenses and other current assets | 13,570 | 169 | 13,739 | ||||||||||||||
Property and equipment | 610,477 | 11,565 | 622,042 | ||||||||||||||
Goodwill | 117,297 | 31,586 | 148,883 | ||||||||||||||
Intangible assets | 651 | 204 | 855 | ||||||||||||||
Other assets | 4,268 | 3,224 | 7,492 | ||||||||||||||
Total assets acquired | 765,621 | 48,820 | 814,441 | ||||||||||||||
Accounts payable | 3,958 | 93 | 4,051 | ||||||||||||||
Accrued salaries and benefits | 10,422 | — | 10,422 | ||||||||||||||
Other accrued expenses | 6,206 | 840 | 7,046 | ||||||||||||||
Deferred tax liabilities – noncurrent | 50,182 | — | 50,182 | ||||||||||||||
Other liabilities | 6,302 | — | 6,302 | ||||||||||||||
Total liabilities assumed | 77,070 | 933 | 78,003 | ||||||||||||||
Net assets acquired | $ | 688,551 | $ | 47,887 | $ | 736,438 | |||||||||||
The fair values of assets acquired and liabilities assumed during 2013, at the corresponding acquisition dates, were as follows (in thousands): | |||||||||||||||||
UMC Facilities | Other | Total | |||||||||||||||
Cash | $ | 52 | $ | 873 | $ | 925 | |||||||||||
Accounts receivable | 4,961 | 5,840 | 10,801 | ||||||||||||||
Prepaid expenses and other current assets | 691 | 3,062 | 3,753 | ||||||||||||||
Property and equipment | 22,347 | 42,672 | 65,019 | ||||||||||||||
Goodwill | 67,589 | 37,619 | 105,208 | ||||||||||||||
Intangible assets | 1,505 | 1,910 | 3,415 | ||||||||||||||
Other assets | 4,712 | 29 | 4,741 | ||||||||||||||
Total assets acquired | 101,857 | 92,005 | 193,862 | ||||||||||||||
Accounts payable | 1,535 | 7,487 | 9,022 | ||||||||||||||
Accrued salaries and benefits | 588 | 3,079 | 3,667 | ||||||||||||||
Other accrued expenses | 315 | 2,289 | 2,604 | ||||||||||||||
Other liabilities | — | 2,360 | 2,360 | ||||||||||||||
Total liabilities assumed | 2,438 | 15,215 | 17,653 | ||||||||||||||
Net assets acquired | $ | 99,419 | $ | 76,790 | $ | 176,209 | |||||||||||
Transaction Related Expenses as Incurred | ' | ||||||||||||||||
Transaction-related expenses comprised the following costs for the three and nine months ended September 30, 2014 and 2013 (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Legal, accounting and other costs | $ | 5,935 | $ | 841 | $ | 10,071 | $ | 2,644 | |||||||||
Severance and contract termination costs | 304 | 143 | 763 | 1,169 | |||||||||||||
$ | 6,239 | $ | 984 | $ | 10,834 | $ | 3,813 | ||||||||||
Pro Forma Financial Information for Acquisitions Occurred | ' | ||||||||||||||||
The following table provides certain pro forma financial information for the Company as if the 2013 and 2014 Acquisitions had occurred as of January 1, 2013 (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenue | $ | 296,479 | $ | 261,409 | $ | 860,151 | $ | 764,605 | |||||||||
Income from continuing operations, before income taxes | $ | 33,406 | $ | 12,044 | $ | 64,607 | $ | 19,707 | |||||||||
Other_Intangible_Assets_Tables
Other Intangible Assets (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Other Identifiable Intangible Assets and Related Accumulated Amortization | ' | ||||||||||||||||
Other identifiable intangible assets and related accumulated amortization consisted of the following as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | ||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Intangible assets subject to amortization: | |||||||||||||||||
Contract intangible assets | $ | 2,100 | $ | 2,100 | $ | (1,225 | ) | $ | (910 | ) | |||||||
Non-compete agreements | 1,247 | 1,247 | (1,121 | ) | (1,021 | ) | |||||||||||
3,347 | 3,347 | (2,346 | ) | (1,931 | ) | ||||||||||||
Intangible assets not subject to amortization: | |||||||||||||||||
Licenses and accreditations | 9,211 | 8,391 | — | — | |||||||||||||
Trade names | 3,000 | 3,000 | — | — | |||||||||||||
Certificates of need | 8,409 | 7,761 | — | — | |||||||||||||
20,620 | 19,152 | — | — | ||||||||||||||
Total | $ | 23,967 | $ | 22,499 | $ | (2,346 | ) | $ | (1,931 | ) | |||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Summary of Property and Equipment | ' | ||||||||
Property and equipment consists of the following as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||
September 30, 2014 | December 31, 2013 | ||||||||
Land | $ | 132,114 | $ | 58,947 | |||||
Building and improvements | 829,078 | 259,523 | |||||||
Equipment | 69,538 | 36,742 | |||||||
Construction in progress | 45,885 | 44,186 | |||||||
1,076,615 | 399,398 | ||||||||
Less accumulated depreciation | (50,237 | ) | (29,289 | ) | |||||
Property and equipment, net | $ | 1,026,378 | $ | 370,109 | |||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||||||
Summary of Results from Discontinued Operations | ' | ||||||||||||||||
A summary of results from discontinued operations is as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenue | $ | — | $ | — | $ | — | $ | — | |||||||||
Loss from discontinued operations, net of income taxes | $ | (51 | ) | $ | (182 | ) | $ | (20 | ) | $ | (572 | ) | |||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Components of Long Term Debt | ' | ||||||||
Long-term debt consisted of the following (in thousands): | |||||||||
September 30, 2014 | December 31, 2013 | ||||||||
Amended and Restated Senior Credit Facility: | |||||||||
Senior Secured Term Loans | $ | 294,375 | $ | 292,500 | |||||
Senior Secured Revolving Line of Credit | 164,000 | 53,500 | |||||||
12.875% Senior Notes due 2018 | 96,366 | 96,216 | |||||||
6.125% Senior Notes due 2021 | 150,000 | 150,000 | |||||||
5.125% Senior Notes due 2022 | 300,000 | — | |||||||
9.0% and 9.5% Revenue Bonds | 24,581 | 24,920 | |||||||
1,029,322 | 617,136 | ||||||||
Less: current portion | (13,320 | ) | (15,195 | ) | |||||
Long-term debt | $ | 1,016,002 | $ | 601,941 | |||||
EquityBased_Compensation_Table
Equity-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Stock Option Activity | ' | ||||||||||||||||
Stock option activity during 2013 and 2014 was as follows (aggregate intrinsic value in thousands): | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Options | Average | Average | Intrinsic | ||||||||||||||
Exercise Price | Remaining | Value | |||||||||||||||
Contractual | |||||||||||||||||
Term (in years) | |||||||||||||||||
Options outstanding at January 1, 2013 | 555,097 | $ | 13.13 | 7.53 | $ | 5,632 | |||||||||||
Options granted | 411,800 | 30.55 | 9.3 | 2,059 | |||||||||||||
Options exercised | (126,662 | ) | 9.36 | N/A | 2,803 | ||||||||||||
Options cancelled | (41,426 | ) | 23.5 | N/A | N/A | ||||||||||||
Options outstanding at December 31, 2013 | 798,809 | 21.93 | 8.2 | 10,700 | |||||||||||||
Options granted | 218,263 | 49.68 | 9.26 | 97 | |||||||||||||
Options exercised | (182,888 | ) | 15.31 | N/A | 4,994 | ||||||||||||
Options cancelled | (55,889 | ) | 33.65 | N/A | N/A | ||||||||||||
Options outstanding at September 30, 2014 | 778,295 | 31.92 | 8.01 | 14,349 | |||||||||||||
Options exercisable at December 31, 2013 | 133,647 | $ | 11.15 | 4.81 | $ | 3,472 | |||||||||||
Options exercisable at September 30, 2014 | 118,008 | $ | 29.04 | 5.42 | $ | 3,840 | |||||||||||
Restricted Stock Activity | ' | ||||||||||||||||
Restricted stock activity during 2013 and 2014 was as follows: | |||||||||||||||||
Number of | Weighted | ||||||||||||||||
Shares | Average | ||||||||||||||||
Grant-Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Unvested at January 1, 2013 | 318,063 | $ | 15.73 | ||||||||||||||
Granted | 290,845 | 31.31 | |||||||||||||||
Cancelled | (53,056 | ) | 21.27 | ||||||||||||||
Vested | (94,155 | ) | 15.52 | ||||||||||||||
Unvested at December 31, 2013 | 461,697 | $ | 24.96 | ||||||||||||||
Granted | 456,384 | 48.89 | |||||||||||||||
Cancelled | (68,769 | ) | 36 | ||||||||||||||
Vested | (113,376 | ) | 23.84 | ||||||||||||||
Unvested at September 30, 2014 | 735,936 | $ | 38.95 | ||||||||||||||
Restricted Stock Unit Activity | ' | ||||||||||||||||
Restricted stock unit activity during 2013 and 2014 was as follows: | |||||||||||||||||
Number of | Weighted | ||||||||||||||||
Units | Average | ||||||||||||||||
Grant-Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Unvested at January 1, 2013 | 68,628 | $ | 16.11 | ||||||||||||||
Granted | 72,876 | 29.39 | |||||||||||||||
Cancelled | — | — | |||||||||||||||
Vested | (45,753 | ) | 16.11 | ||||||||||||||
Unvested at December 31, 2013 | 95,751 | $ | 23.05 | ||||||||||||||
Granted | 108,449 | 50.75 | |||||||||||||||
Cancelled | — | — | |||||||||||||||
Vested | (79,087 | ) | 21.81 | ||||||||||||||
Unvested at September 30, 2014 | 125,113 | $ | 38.73 | ||||||||||||||
Schedule of Stock Options Valuation Assumptions | ' | ||||||||||||||||
The following table summarizes the grant-date fair value of options and the assumptions used to develop the fair value estimates for options granted during the nine months ended September 30, 2014 and year ended December 31, 2013: | |||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||
Weighted average grant-date fair value of options | $ | 17.8 | $ | 11.62 | |||||||||||||
Risk-free interest rate | 1.7 | % | 1 | % | |||||||||||||
Expected volatility | 36 | % | 40 | % | |||||||||||||
Expected life (in years) | 5.5 | 5.5 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Carrying Amounts and Fair Values of Company's Amended and Restated Senior Credit Facilities and Contingent Consideration Liability | ' | ||||||||||||||||
The carrying amounts and fair values of the Company’s Amended and Restated Senior Credit Facility, 12.875% Senior Notes, 6.125% Senior Notes, 5.125% Senior Notes, 9.0% and 9.5% Revenue Bonds, contingent consideration liability and foreign currency derivatives as of September 30, 2014 and December 31, 2013 were as follows (in thousands): | |||||||||||||||||
Carrying Amount | Fair Value | ||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Amended and Restated Senior Credit Facility | $ | 458,375 | $ | 346,000 | $ | 458,375 | $ | 346,000 | |||||||||
12.875% Senior Notes due 2018 | $ | 96,366 | $ | 96,216 | $ | 111,881 | $ | 118,706 | |||||||||
6.125% Senior Notes due 2021 | $ | 150,000 | $ | 150,000 | $ | 152,625 | $ | 155,625 | |||||||||
5.125% Senior Notes due 2022 | $ | 300,000 | — | $ | 290,250 | — | |||||||||||
9.0% and 9.5% Revenue Bonds | $ | 24,581 | $ | 24,920 | $ | 24,581 | $ | 24,920 | |||||||||
Contingent consideration liabilities | $ | 3,467 | $ | 6,500 | $ | 3,467 | $ | 6,500 |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Assets [Member] | ' | ||||||||||||||||
Summary of Financial Information by Operating Segment | ' | ||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Assets: | |||||||||||||||||
U.S. Facilities | $ | 1,291,961 | $ | 1,155,813 | |||||||||||||
U.K. Facilities | 743,288 | — | |||||||||||||||
Corporate and Other | 105,219 | 68,846 | |||||||||||||||
$ | 2,140,468 | $ | 1,224,659 | ||||||||||||||
Goodwill [Member] | ' | ||||||||||||||||
Summary of Financial Information by Operating Segment | ' | ||||||||||||||||
U.S. Facilities | U.K. Facilities | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Goodwill: | |||||||||||||||||
Balance at January 1, 2014 | $ | 661,549 | $ | — | $ | — | $ | 661,549 | |||||||||
Increase from 2014 acquisitions | 31,586 | 117,297 | — | 148,883 | |||||||||||||
Foreign currency translation loss | — | (6,199 | ) | — | (6,199 | ) | |||||||||||
Other | 414 | — | — | 414 | |||||||||||||
Balance at September 30, 2014 | $ | 693,549 | $ | 111,098 | $ | — | $ | 804,647 | |||||||||
Operating Income (Loss) [Member] | ' | ||||||||||||||||
Summary of Financial Information by Operating Segment | ' | ||||||||||||||||
The following tables set forth the financial information by operating segment, including a reconciliation of Segment EBITDA to income from continuing operations before income taxes (in thousands): | |||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||
U.S. Facilities | U.K. Facilities | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Revenue | $ | 217,427 | $ | 76,026 | $ | 1,026 | $ | 294,479 | |||||||||
Segment EBITDA (1) | 53,814 | 20,253 | (9,001 | ) | 65,066 | ||||||||||||
Plus (less): | |||||||||||||||||
Equity-based compensation expense | — | — | (2,805 | ) | (2,805 | ) | |||||||||||
Gain on foreign currency derivatives | — | — | 1,527 | 1,527 | |||||||||||||
Transaction-related expenses | — | (811 | ) | (5,428 | ) | (6,239 | ) | ||||||||||
Interest expense, net | (517 | ) | (9,451 | ) | (4,100 | ) | (14,068 | ) | |||||||||
Depreciation and amortization | (5,475 | ) | (4,094 | ) | (756 | ) | (10,325 | ) | |||||||||
Income (loss) from continuing operations before income taxes | $ | 47,822 | $ | 5,897 | $ | (20,563 | ) | $ | 33,156 | ||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||
U.S. Facilities | U.K. Facilities | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Revenue | $ | 184,071 | $ | — | $ | 631 | $ | 184,702 | |||||||||
Segment EBITDA (1) | 45,115 | — | (6,634 | ) | 38,481 | ||||||||||||
Plus (less): | |||||||||||||||||
Equity-based compensation expense | — | — | (1,331 | ) | (1,331 | ) | |||||||||||
Transaction-related expenses | — | — | (984 | ) | (984 | ) | |||||||||||
Interest expense, net | (926 | ) | — | (8,539 | ) | (9,465 | ) | ||||||||||
Depreciation and amortization | (3,727 | ) | — | (687 | ) | (4,414 | ) | ||||||||||
Income (loss) from continuing operations before income taxes | $ | 40,462 | $ | — | $ | (18,175 | ) | $ | 22,287 | ||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||
U.S. Facilities | U.K. Facilities | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Revenue | $ | 630,825 | $ | 76,026 | $ | 2,849 | $ | 709,700 | |||||||||
Segment EBITDA (1) | 154,377 | 20,253 | (25,568 | ) | 149,062 | ||||||||||||
Plus (less): | |||||||||||||||||
Equity-based compensation expense | — | — | (6,975 | ) | (6,975 | ) | |||||||||||
Gain on foreign currency derivatives | — | — | 15,262 | 15,262 | |||||||||||||
Transaction-related expenses | — | (811 | ) | (10,023 | ) | (10,834 | ) | ||||||||||
Interest expense, net | (1,665 | ) | (9,451 | ) | (22,389 | ) | (33,505 | ) | |||||||||
Depreciation and amortization | (15,381 | ) | (4,094 | ) | (2,221 | ) | (21,696 | ) | |||||||||
Income (loss) from continuing operations before income taxes | $ | 137,331 | $ | 5,897 | $ | (51,914 | ) | $ | 91,314 | ||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||
U.S. Facilities | U.K. Facilities | Corporate | Consolidated | ||||||||||||||
and Other | |||||||||||||||||
Revenue | $ | 521,368 | $ | — | $ | 2,041 | $ | 523,409 | |||||||||
Segment EBITDA (1) | 126,017 | — | (19,880 | ) | 106,137 | ||||||||||||
Plus (less): | |||||||||||||||||
Equity-based compensation expense | — | — | (3,744 | ) | (3,744 | ) | |||||||||||
Debt extinguishment costs | — | — | (9,350 | ) | (9,350 | ) | |||||||||||
Transaction-related expenses | — | — | (3,813 | ) | (3,813 | ) | |||||||||||
Interest expense, net | (2,114 | ) | — | (25,558 | ) | (27,672 | ) | ||||||||||
Depreciation and amortization | (10,375 | ) | — | (1,873 | ) | (12,248 | ) | ||||||||||
Income (loss) from continuing operations before income taxes | $ | 113,528 | $ | — | $ | (64,218 | ) | $ | 49,310 | ||||||||
-1 | Segment EBITDA is defined as income from continuing operations before provision for income taxes, equity-based compensation expense, debt extinguishment costs, gain on foreign currency derivatives, transaction-related expenses, interest expense and depreciation and amortization. The Company uses Segment EBITDA as an analytical indicator to measure the performance of the Company’s segments and to develop strategic objectives and operating plans for those segments. Segment EBITDA is commonly used as an analytical indicator within the health care industry, and also serves as a measure of leverage capacity and debt service ability. Segment EBITDA should not be considered as a measure of financial performance under generally accepted accounting principles, and the items excluded from Segment EBITDA are significant components in understanding and assessing financial performance. Because Segment EBITDA is not a measurement determined in accordance with generally accepted accounting principles and is thus susceptible to varying calculations, Segment EBITDA, as presented, may not be comparable to other similarly titled measures of other companies. |
Partnerships_in_Care_Pension_P1
Partnerships in Care Pension Plan (Tables) | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||
Summary of Changes in Partnerships in Care Pension Plan Pension Liability | ' | ||||
The following table summarizes changes in the Partnerships in Care Pension Plan pension liability (in thousands): | |||||
Pension liability at July 1, 2014 | $ | 6,302 | |||
Employer contributions | (1,097 | ) | |||
Net pension benefit expense | 897 | ||||
Foreign currency translation loss | (327 | ) | |||
Pension liability at September 30, 2014 | $ | 5,775 | |||
Financial_Information_for_the_1
Financial Information for the Company and Its Subsidiaries (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||
Summary of Condensed Consolidating Balance Sheets | ' | ||||||||||||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 10,421 | $ | 31,758 | $ | — | $ | 42,179 | |||||||||||
Accounts receivable, net | — | 111,706 | 18,547 | — | 130,253 | ||||||||||||||||
Deferred tax assets | — | 18,894 | 888 | — | 19,782 | ||||||||||||||||
Other current assets | — | 31,772 | 5,854 | — | 37,626 | ||||||||||||||||
Total current assets | — | 172,793 | 57,047 | — | 229,840 | ||||||||||||||||
Property and equipment, net | — | 412,958 | 613,420 | — | 1,026,378 | ||||||||||||||||
Goodwill | — | 596,214 | 208,433 | — | 804,647 | ||||||||||||||||
Intangible assets, net | — | 19,015 | 2,606 | — | 21,621 | ||||||||||||||||
Deferred tax assets – noncurrent | 3,347 | — | 16,916 | (4,330 | ) | 15,933 | |||||||||||||||
Investment in subsidiaries | 1,693,275 | — | — | (1,693,275 | ) | — | |||||||||||||||
Other assets | 204,562 | 17,926 | 2,321 | (182,760 | ) | 42,049 | |||||||||||||||
Total assets | $ | 1,901,184 | $ | 1,218,906 | $ | 900,743 | $ | (1,880,365 | ) | $ | 2,140,468 | ||||||||||
Current liabilities: | |||||||||||||||||||||
Current portion of long-term debt | $ | 13,125 | $ | — | $ | 195 | $ | — | $ | 13,320 | |||||||||||
Accounts payable | — | 34,774 | 8,486 | — | 43,260 | ||||||||||||||||
Accrued salaries and benefits | — | 42,515 | 13,698 | — | 56,213 | ||||||||||||||||
Other accrued liabilities | 9,867 | 12,620 | 7,260 | — | 29,747 | ||||||||||||||||
Total current liabilities | 22,992 | 89,909 | 29,639 | — | 142,540 | ||||||||||||||||
Long-term debt | 991,616 | — | 207,146 | (182,760 | ) | 1,016,002 | |||||||||||||||
Deferred tax liabilities – noncurrent | — | 19,512 | 49,589 | (4,330 | ) | 64,771 | |||||||||||||||
Other liabilities | — | 24,361 | 6,218 | — | 30,579 | ||||||||||||||||
Total liabilities | 1,014,608 | 133,782 | 292,592 | (187,090 | ) | 1,253,892 | |||||||||||||||
Total equity | 886,576 | 1,085,124 | 608,151 | (1,693,275 | ) | 886,576 | |||||||||||||||
Total liabilities and equity | $ | 1,901,184 | $ | 1,218,906 | $ | 900,743 | $ | (1,880,365 | ) | $ | 2,140,468 | ||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 6,494 | $ | (1,925 | ) | $ | 4,569 | ||||||||||
Accounts receivable, net | — | 86,597 | 9,288 | — | 95,885 | ||||||||||||||||
Deferred tax assets | — | 15,284 | 419 | — | 15,703 | ||||||||||||||||
Other current assets | — | 27,886 | 1,083 | — | 28,969 | ||||||||||||||||
Total current assets | — | 129,767 | 17,284 | (1,925 | ) | 145,126 | |||||||||||||||
Property and equipment, net | — | 340,175 | 29,934 | — | 370,109 | ||||||||||||||||
Goodwill | — | 564,539 | 97,010 | — | 661,549 | ||||||||||||||||
Intangible assets, net | — | 18,578 | 1,990 | — | 20,568 | ||||||||||||||||
Investment in subsidiaries | 1,034,160 | — | — | (1,034,160 | ) | — | |||||||||||||||
Other assets | 46,236 | 11,675 | 8,082 | (38,686 | ) | 27,307 | |||||||||||||||
Total assets | $ | 1,080,396 | $ | 1,064,734 | $ | 154,300 | $ | (1,074,771 | ) | $ | 1,224,659 | ||||||||||
Current liabilities: | |||||||||||||||||||||
Current portion of long-term debt | $ | 15,000 | $ | — | $ | 195 | $ | — | $ | 15,195 | |||||||||||
Accounts payable | — | 36,289 | 1,662 | (1,925 | ) | 36,026 | |||||||||||||||
Accrued salaries and benefits | — | 36,027 | 1,694 | — | 37,721 | ||||||||||||||||
Other accrued liabilities | 4,876 | 19,982 | 890 | — | 25,748 | ||||||||||||||||
Total current liabilities | 19,876 | 92,298 | 4,441 | (1,925 | ) | 114,690 | |||||||||||||||
Long-term debt | 577,216 | — | 57,650 | (32,925 | ) | 601,941 | |||||||||||||||
Deferred tax liabilities – noncurrent | 2,594 | 11,138 | — | (5,761 | ) | 7,971 | |||||||||||||||
Other liabilities | — | 19,347 | — | — | 19,347 | ||||||||||||||||
Total liabilities | 599,686 | 122,783 | 62,091 | (40,611 | ) | 743,949 | |||||||||||||||
Total equity | 480,710 | 941,951 | 92,209 | (1,034,160 | ) | 480,710 | |||||||||||||||
Total liabilities and equity | $ | 1,080,396 | $ | 1,064,734 | $ | 154,300 | $ | (1,074,771 | ) | $ | 1,224,659 | ||||||||||
Summary of Condensed Consolidating Statement of Comprehensive Loss | ' | ||||||||||||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Loss | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Revenue before provision for doubtful accounts | $ | — | $ | 212,376 | $ | 90,625 | $ | — | $ | 303,001 | |||||||||||
Provision for doubtful accounts | — | (7,444 | ) | (1,078 | ) | — | (8,522 | ) | |||||||||||||
Revenue | — | 204,932 | 89,547 | — | 294,479 | ||||||||||||||||
Salaries, wages and benefits | 2,805 | 117,261 | 48,566 | — | 168,632 | ||||||||||||||||
Professional fees | — | 9,816 | 5,062 | — | 14,878 | ||||||||||||||||
Supplies | — | 10,784 | 3,278 | — | 14,062 | ||||||||||||||||
Rents and leases | — | 2,419 | 795 | — | 3,214 | ||||||||||||||||
Other operating expenses | — | 18,979 | 12,453 | — | 31,432 | ||||||||||||||||
Depreciation and amortization | — | 5,874 | 4,451 | — | 10,325 | ||||||||||||||||
Interest expense, net | 4,096 | 6,439 | 3,533 | — | 14,068 | ||||||||||||||||
Gain on foreign currency derivatives | (1,527 | ) | — | — | — | (1,527 | ) | ||||||||||||||
Transaction-related expenses | — | 5,428 | 811 | — | 6,239 | ||||||||||||||||
Total expenses | 5,374 | 177,000 | 78,949 | — | 261,323 | ||||||||||||||||
(Loss) income from continuing operations before income taxes | (5,374 | ) | 27,932 | 10,598 | — | 33,156 | |||||||||||||||
Equity in earnings of subsidiaries | 28,607 | — | — | (28,607 | ) | — | |||||||||||||||
Provision for income taxes | (2,169 | ) | 12,517 | (2,645 | ) | — | 7,703 | ||||||||||||||
Income (loss) from continuing operations | 25,402 | 15,415 | 13,243 | (28,607 | ) | 25,453 | |||||||||||||||
Loss from discontinued operations, net of income taxes | — | (51 | ) | — | — | (51 | ) | ||||||||||||||
Net income (loss) | $ | 25,402 | $ | 15,364 | $ | 13,243 | $ | (28,607 | ) | $ | 25,402 | ||||||||||
Other comprehensive loss: | |||||||||||||||||||||
Foreign currency translation loss | — | — | (36,857 | ) | — | (36,857 | ) | ||||||||||||||
Other comprehensive loss | — | — | (36,857 | ) | — | (36,857 | ) | ||||||||||||||
Comprehensive income (loss) | $ | 25,402 | $ | 15,364 | $ | (23,614 | ) | $ | (28,607 | ) | $ | (11,455 | ) | ||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
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 | ) | — | |||||||||||||||
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 | ||||||||||
Comprehensive income (loss) | $ | 14,364 | $ | 20,402 | $ | 685 | $ | (21,087 | ) | $ | 14,364 | ||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Revenue before provision for doubtful accounts | $ | — | $ | 612,801 | $ | 116,983 | $ | — | $ | 729,784 | |||||||||||
Provision for doubtful accounts | — | (17,908 | ) | (2,176 | ) | — | (20,084 | ) | |||||||||||||
Revenue | — | 594,893 | 114,807 | — | 709,700 | ||||||||||||||||
Salaries, wages and benefits | 6,975 | 342,890 | 58,815 | — | 408,680 | ||||||||||||||||
Professional fees | — | 28,760 | 7,391 | — | 36,151 | ||||||||||||||||
Supplies | — | 30,137 | 4,585 | — | 34,722 | ||||||||||||||||
Rents and leases | — | 7,527 | 1,345 | — | 8,872 | ||||||||||||||||
Other operating expenses | — | 62,579 | 16,609 | — | 79,188 | ||||||||||||||||
Depreciation and amortization | — | 16,540 | 5,156 | — | 21,696 | ||||||||||||||||
Interest expense, net | 22,409 | 6,439 | 4,657 | — | 33,505 | ||||||||||||||||
Gain on foreign currency derivatives | (15,262 | ) | — | — | — | (15,262 | ) | ||||||||||||||
Transaction-related expenses | — | 10,023 | 811 | — | 10,834 | ||||||||||||||||
Total expenses | 14,122 | 504,895 | 99,369 | — | 618,386 | ||||||||||||||||
(Loss) income from continuing operations before income taxes | (14,122 | ) | 89,998 | 15,438 | — | 91,314 | |||||||||||||||
Equity in earnings of subsidiaries | 69,446 | — | — | (69,446 | ) | — | |||||||||||||||
Provision for income taxes | (5,587 | ) | 36,766 | (796 | ) | — | 30,383 | ||||||||||||||
Income (loss) from continuing operations | 60,911 | 53,232 | 16,234 | (69,446 | ) | 60,931 | |||||||||||||||
Loss from discontinued operations, net of income taxes | — | (20 | ) | — | — | (20 | ) | ||||||||||||||
Net income (loss) | $ | 60,911 | $ | 53,212 | $ | 16,234 | $ | (69,446 | ) | $ | 60,911 | ||||||||||
Other comprehensive loss: | |||||||||||||||||||||
Foreign currency translation loss | — | — | (36,857 | ) | — | (36,857 | ) | ||||||||||||||
Other comprehensive loss | — | — | (36,857 | ) | — | (36,857 | ) | ||||||||||||||
Comprehensive income (loss) | $ | 60,911 | $ | 53,212 | $ | (20,623 | ) | $ | (69,446 | ) | $ | 24,054 | |||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
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 | ) | — | |||||||||||||||
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 | ||||||||||
Comprehensive income (loss) | $ | 30,299 | $ | 53,909 | $ | 431 | $ | (54,340 | ) | $ | 30,299 | ||||||||||
Summary of Condensed Consolidating Statement of Cash Flows | ' | ||||||||||||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Operating activities: | |||||||||||||||||||||
Net income (loss) | $ | 60,911 | $ | 53,212 | $ | 16,234 | $ | (69,446 | ) | $ | 60,911 | ||||||||||
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | |||||||||||||||||||||
Equity in earnings of subsidiaries | (69,446 | ) | — | — | 69,446 | — | |||||||||||||||
Depreciation and amortization | — | 16,540 | 5,156 | — | 21,696 | ||||||||||||||||
Amortization of debt issuance costs | 1,891 | — | 338 | — | 2,229 | ||||||||||||||||
Equity-based compensation expense | 6,975 | — | — | — | 6,975 | ||||||||||||||||
Deferred income tax expense | (754 | ) | 3,218 | 2,181 | — | 4,645 | |||||||||||||||
Loss from discontinued operations, net of taxes | — | 20 | — | — | 20 | ||||||||||||||||
Gain on foreign currency derivatives | (15,262 | ) | — | — | — | (15,262 | ) | ||||||||||||||
Other | — | 134 | 29 | — | 163 | ||||||||||||||||
Change in operating assets and liabilities, net of effect of acquisitions: | |||||||||||||||||||||
Accounts receivable, net | — | (23,347 | ) | (2,048 | ) | — | (25,395 | ) | |||||||||||||
Other current assets | — | 1,067 | 255 | — | 1,322 | ||||||||||||||||
Other assets | 165 | (2,086 | ) | — | (165 | ) | (2,086 | ) | |||||||||||||
Accounts payable and other accrued liabilities | — | (2,752 | ) | 3,830 | — | 1,078 | |||||||||||||||
Accrued salaries and benefits | — | 6,546 | 2,426 | — | 8,972 | ||||||||||||||||
Other liabilities | — | 3,549 | 256 | — | 3,805 | ||||||||||||||||
Net cash (used in) provided by continuing operating activities | (15,520 | ) | 56,101 | 28,657 | (165 | ) | 69,073 | ||||||||||||||
Net cash used in discontinued operating activities | — | (27 | ) | — | — | (27 | ) | ||||||||||||||
Net cash (used in) provided by operating activities | (15,520 | ) | 56,074 | 28,657 | (165 | ) | 69,046 | ||||||||||||||
Investing activities: | |||||||||||||||||||||
Cash paid for acquisitions, net of cash acquired | — | (722,797 | ) | — | — | (722,797 | ) | ||||||||||||||
Cash paid for capital expenditures | — | (60,223 | ) | (10,457 | ) | — | (70,680 | ) | |||||||||||||
Cash paid for real estate acquisitions | — | (22,247 | ) | — | — | (22,247 | ) | ||||||||||||||
Settlement of foreign currency derivatives | 15,262 | — | — | — | 15,262 | ||||||||||||||||
Other | — | (733 | ) | — | — | (733 | ) | ||||||||||||||
Net cash used in investing activities | 15,262 | (806,000 | ) | (10,457 | ) | — | (801,195 | ) | |||||||||||||
Financing activities: | |||||||||||||||||||||
Borrowings on long-term debt | 307,500 | — | — | — | 307,500 | ||||||||||||||||
Borrowings on revolving credit facility | 230,500 | — | — | — | 230,500 | ||||||||||||||||
Principal payments on revolving credit facility | (120,000 | ) | — | — | — | (120,000 | ) | ||||||||||||||
Principal payments on long-term debt | (5,625 | ) | — | (165 | ) | 165 | (5,625 | ) | |||||||||||||
Payment of debt issuance costs | (10,909 | ) | — | — | — | (10,909 | ) | ||||||||||||||
Issuance of common stock, net | 374,431 | — | — | — | 374,431 | ||||||||||||||||
Common stock withheld for minimum statutory taxes, net | (3,477 | ) | — | — | — | (3,477 | ) | ||||||||||||||
Excess tax benefit from equity awards | 3,779 | — | — | — | 3,779 | ||||||||||||||||
Cash paid for contingent consideration | — | (5,000 | ) | — | — | (5,000 | ) | ||||||||||||||
Cash (used in) provided by intercompany activity | (775,941 | ) | 765,347 | 8,669 | 1,925 | — | |||||||||||||||
Net cash provided by financing activities | 258 | 760,347 | 8,504 | 2,090 | 771,199 | ||||||||||||||||
Effect of exchange rate changes on cash | — | — | (1,440 | ) | — | (1,440 | ) | ||||||||||||||
Net increase in cash and cash equivalents | — | 10,421 | 25,264 | 1,925 | 37,610 | ||||||||||||||||
Cash and cash equivalents at beginning of the period | — | — | 6,494 | (1,925 | ) | 4,569 | |||||||||||||||
Cash and cash equivalents at end of the period | $ | — | $ | 10,421 | $ | 31,758 | $ | — | $ | 42,179 | |||||||||||
Acadia Healthcare Company, Inc. | |||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Parent | Combined | Combined | Consolidating | Total | |||||||||||||||||
Subsidiary | Non- | Adjustments | Consolidated | ||||||||||||||||||
Guarantors | Guarantors | Amounts | |||||||||||||||||||
Operating activities: | |||||||||||||||||||||
Net income (loss) | $ | 30,299 | $ | 53,909 | $ | 431 | $ | (54,340 | ) | $ | 30,299 | ||||||||||
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | |||||||||||||||||||||
Equity in earnings of subsidiaries | (54,340 | ) | — | — | 54,340 | — | |||||||||||||||
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: | |||||||||||||||||||||
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 | — | (2,307 | ) | 193 | — | (2,114 | ) | ||||||||||||||
Other liabilities | — | 7,693 | (4,155 | ) | — | 3,538 | |||||||||||||||
Net cash (used in) provided by continuing operating activities | (9,331 | ) | 58,588 | (2,488 | ) | — | 46,769 | ||||||||||||||
Net cash used in discontinued operating activities | — | (541 | ) | — | — | (541 | ) | ||||||||||||||
Net cash (used in) provided by operating activities | (9,331 | ) | 58,047 | (2,488 | ) | — | 46,228 | ||||||||||||||
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 | ||||||||||||||||
Borrowings on revolving credit facility | 27,500 | — | — | — | 27,500 | ||||||||||||||||
Principal payments on revolving credit facility | (8,000 | ) | — | — | — | (8,000 | ) | ||||||||||||||
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 | ) | ||||||||||||||
Common stock withheld for minimum statutory taxes, net | (1,120 | ) | — | — | — | (1,120 | ) | ||||||||||||||
Excess tax benefit from equity awards | 1,265 | — | — | — | 1,265 | ||||||||||||||||
Cash (used in) provided by intercompany activity | (91,123 | ) | 84,393 | 8,046 | (1,316 | ) | — | ||||||||||||||
Net cash provided by (used in) financing activities | 9,331 | 84,393 | 8,046 | (1,316 | ) | 100,454 | |||||||||||||||
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 | ||||||||||
Description_of_Business_and_Ba1
Description of Business and Basis of Presentation - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Facility | |
Beds | |
Business And Basis Of Presentation [Line Items] | ' |
Number of states covered under inpatient psychiatric facilities | 24 |
Percentage of ownership in subsidiaries | 100.00% |
Behavioral Healthcare Facilities [Member] | ' |
Business And Basis Of Presentation [Line Items] | ' |
Number of inpatient psychiatric facilities | 76 |
Number of inpatient psychiatric beds | 5,800 |
Earnings_Per_Share_Computation
Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Basic and diluted earnings per share: | ' | ' | ' | ' |
Income from continuing operations | $25,453 | $14,546 | $60,931 | $30,871 |
Loss from discontinued operations | -51 | -182 | -20 | -572 |
Net income | $25,402 | $14,364 | $60,911 | $30,299 |
Denominator: | ' | ' | ' | ' |
Weighted average shares outstanding for basic earnings per share | 59,175 | 50,040 | 53,670 | 49,987 |
Effect of dilutive instruments | 234 | 303 | 252 | 226 |
Shares used in computing diluted earnings per common share | 59,409 | 50,343 | 53,922 | 50,213 |
Basic earnings per share: | ' | ' | ' | ' |
Income from continuing operations | $0.43 | $0.29 | $1.14 | $0.62 |
Loss from discontinued operations | ' | ' | ' | ($0.01) |
Net income | $0.43 | $0.29 | $1.14 | $0.61 |
Diluted earnings per share: | ' | ' | ' | ' |
Income from continuing operations | $0.43 | $0.29 | $1.13 | $0.61 |
Loss from discontinued operations | ' | ' | ' | ($0.01) |
Net income | $0.43 | $0.29 | $1.13 | $0.60 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Excluded common stock for computation of diluted earnings per share | 0.5 | 0.4 | 0.7 | 0.7 |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | |||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jul. 01, 2014 | Sep. 30, 2014 | Jul. 01, 2014 | Jan. 01, 2014 | Jan. 01, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | 1-May-13 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 03, 2014 | Sep. 30, 2014 | Sep. 03, 2014 | Jul. 01, 2014 | Jul. 01, 2014 | Jul. 01, 2014 | Jul. 01, 2014 | |
Pro Forma Information [Member] | Pro Forma Information [Member] | Pro Forma Information [Member] | Pro Forma Information [Member] | 5.125% Senior Notes due 2022 [Member] | 5.125% Senior Notes due 2022 [Member] | 5.125% Senior Notes due 2022 [Member] | Pacific Grove [Member] | Pacific Grove [Member] | Cascade Behavioral Hospital [Member] | Longleaf Hospital [Member] | The Refuge [Member] | UMC Facilities [Member] | UMC Facilities [Member] | Delta Medical Center [Member] | Greenleaf Center [Member] | McCallum [Member] | McCallum [Member] | McCallum [Member] | Partnerships In Care [Member] | Partnerships In Care [Member] | Partnerships In Care [Member] | Partnerships In Care [Member] | |||||
Behavioral Healthcare Facilities [Member] | Behavioral Healthcare Facilities [Member] | Behavioral Healthcare Facilities [Member] | Facility | Beds | 5.125% Senior Notes due 2022 [Member] | Foreign Exchange Contract [Member] | |||||||||||||||||||||
Beds | Facility | Beds | Beds | ||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition cash paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | $37,400,000 | ' | ' | ' | ' | ' | ' |
Number of acute inpatient psychiatric beds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 68 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85 | ' | 1,200 | ' | ' |
Cash payments for earn-out agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | 6,000,000 | ' | ' | ' | ' | ' |
Acquisition completion date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Dec-13 | 1-Oct-13 | 1-Aug-13 | 1-May-13 | ' | 31-Jan-13 | 1-Jan-13 | ' | ' | ' | 1-Jul-14 | ' | ' | ' |
Total consideration related to acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 661,700,000 | ' | ' | ' |
Cash consideration related to acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 | ' | ' |
Fair value of the foreign currency derivative | 1,527,000 | ' | 15,262,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,300,000 |
Proceeds from issuance of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' |
Senior notes interest percentage | ' | ' | 374,431,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 374,300,000 | ' | ' | ' |
Debt instrument maturity date | ' | ' | ' | ' | ' | ' | ' | ' | 1-Jul-22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Jul-22 | ' | ' | ' |
Senior notes interest percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.13% | 5.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.13% | ' | ' |
Number of facilities acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | 23 | ' | ' | ' |
Pension liability under defined benefit pension plan | 6,300,000 | ' | 6,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | 296,479,000 | 261,409,000 | 860,151,000 | 764,605,000 | 117,100,000 | 24,300,000 | 184,700,000 | 52,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (loss) from continuing operations, before income taxes | $33,406,000 | $12,044,000 | $64,607,000 | $19,707,000 | $12,200,000 | $900,000 | $16,900,000 | ($1,400,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Preliminary_Fair_
Acquisitions - Preliminary Fair Values of Assets Acquired and Liabilities Assumed at Corresponding Acquisition Date (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Jul. 01, 2014 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | 2013 Acquisitions [Member] | 2014 Acquisitions [Member] | UMC Facilities [Member] | Other [Member] | Other [Member] | Partnerships In Care [Member] | Partnerships In Care [Member] | ||
2013 Acquisitions [Member] | 2013 Acquisitions [Member] | 2014 Acquisitions [Member] | 2014 Acquisitions [Member] | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | $925 | $11,674 | $52 | $873 | ' | $12,000 | $11,674 |
Accounts receivable | ' | ' | 10,801 | 9,756 | 4,961 | 5,840 | 2,072 | ' | 7,684 |
Prepaid expenses and other current assets | ' | ' | 3,753 | 13,739 | 691 | 3,062 | 169 | ' | 13,570 |
Property and equipment | ' | ' | 65,019 | 622,042 | 22,347 | 42,672 | 11,565 | ' | 610,477 |
Goodwill | 804,647 | 661,549 | 105,208 | 148,883 | 67,589 | 37,619 | 31,586 | ' | 117,297 |
Intangible assets | ' | ' | 3,415 | 855 | 1,505 | 1,910 | 204 | ' | 651 |
Other assets | ' | ' | 4,741 | 7,492 | 4,712 | 29 | 3,224 | ' | 4,268 |
Total assets acquired | ' | ' | 193,862 | 814,441 | 101,857 | 92,005 | 48,820 | ' | 765,621 |
Accounts payable | ' | ' | 9,022 | 4,051 | 1,535 | 7,487 | 93 | ' | 3,958 |
Accrued salaries and benefits | ' | ' | 3,667 | 10,422 | 588 | 3,079 | ' | ' | 10,422 |
Other accrued expenses | ' | ' | 2,604 | 7,046 | 315 | 2,289 | 840 | ' | 6,206 |
Deferred tax liabilities - noncurrent | ' | ' | ' | 50,182 | ' | ' | ' | ' | 50,182 |
Other liabilities | ' | ' | 2,360 | 6,302 | ' | 2,360 | ' | ' | 6,302 |
Total liabilities assumed | ' | ' | 17,653 | 78,003 | 2,438 | 15,215 | 933 | ' | 77,070 |
Net assets acquired | ' | ' | $176,209 | $736,438 | $99,419 | $76,790 | $47,887 | ' | $688,551 |
Acquisitions_Transaction_Relat
Acquisitions - Transaction Related Expenses as Incurred (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Business Combinations [Abstract] | ' | ' | ' | ' |
Legal, accounting and other costs | $5,935 | $841 | $10,071 | $2,644 |
Severance and contract termination costs | 304 | 143 | 763 | 1,169 |
Transaction-related expenses | $6,239 | $984 | $10,834 | $3,813 |
Acquisitions_Pro_Forma_Financi
Acquisitions - Pro Forma Financial Information for Acquisitions Occurred (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Business Combinations [Abstract] | ' | ' | ' | ' |
Revenue | $296,479 | $261,409 | $860,151 | $764,605 |
Income from continuing operations, before income taxes | $33,406 | $12,044 | $64,607 | $19,707 |
Other_Intangible_Assets_Other_
Other Intangible Assets - Other Identifiable Intangible Assets and Related Accumulated Amortization (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' |
Intangible assets subject to amortization, Gross Carrying Amount | $3,347 | $3,347 |
Intangible assets not subject to amortization, Gross Carrying Amount | 20,620 | 19,152 |
Total | 23,967 | 22,499 |
Intangible assets subject to amortization, Accumulated Amortization | -2,346 | -1,931 |
Intangible assets not subject to amortization, Accumulated Amortization | ' | ' |
Total | -2,346 | -1,931 |
Contract Intangible Assets [Member] | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' |
Intangible assets subject to amortization, Gross Carrying Amount | 2,100 | 2,100 |
Intangible assets subject to amortization, Accumulated Amortization | -1,225 | -910 |
Non-Compete Agreements [Member] | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' |
Intangible assets subject to amortization, Gross Carrying Amount | 1,247 | 1,247 |
Intangible assets subject to amortization, Accumulated Amortization | -1,121 | -1,021 |
Licenses and Accreditations [Member] | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' |
Intangible assets not subject to amortization, Gross Carrying Amount | 9,211 | 8,391 |
Intangible assets not subject to amortization, Accumulated Amortization | ' | ' |
Trade Names [Member] | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' |
Intangible assets not subject to amortization, Gross Carrying Amount | 3,000 | 3,000 |
Intangible assets not subject to amortization, Accumulated Amortization | ' | ' |
Certificates of Need [Member] | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' |
Intangible assets not subject to amortization, Gross Carrying Amount | 8,409 | 7,761 |
Intangible assets not subject to amortization, Accumulated Amortization | ' | ' |
Other_Intangible_Assets_Additi
Other Intangible Assets - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Capitalized costs incurred to obtain certificates of need | ' | ' | $0.40 | $0.30 |
Amortization expense | 0.1 | 0.2 | 0.4 | 0.6 |
Estimated amortization expense, 2014 | 0.5 | ' | 0.5 | ' |
Estimated amortization expense, 2015 | 0.5 | ' | 0.5 | ' |
Estimated amortization expense, 2016 | 0.4 | ' | 0.4 | ' |
Estimated amortization expense, 2017 | 0 | ' | 0 | ' |
Estimated amortization expense, 2018 | 0 | ' | 0 | ' |
Contract Intangible Assets [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Non-compete agreement term | ' | ' | '5 years | ' |
Greenleaf Center [Member] | Certificates of Need [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | 0.6 | ' |
Delta Medical Center [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | 0.8 | ' |
Delta Medical Center [Member] | Certificates of Need [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | 0.6 | ' |
Delta Medical Center [Member] | Licenses and Accreditations [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | 0.2 | ' |
UMC Facilities [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | 1.5 | ' |
UMC Facilities [Member] | Certificates of Need [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | 1.3 | ' |
UMC Facilities [Member] | Licenses and Accreditations [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | 0.2 | ' |
Longleaf Hospital [Member] | Licenses and Accreditations [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | 0.2 | ' |
Cascade Behavioral Hospital [Member] | Certificates of Need [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | 0.3 | ' |
Pacific Grove [Member] | Licenses and Accreditations [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | 0.2 | ' |
Partnerships In Care [Member] | Licenses and Accreditations [Member] | ' | ' | ' | ' |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ' | ' | ' | ' |
Acquisition of intangible assets with a preliminary fair value | ' | ' | $0.70 | ' |
Property_and_Equipment_Summary
Property and Equipment - Summary of Property and Equipment (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $1,076,615 | $399,398 |
Less accumulated depreciation | -50,237 | -29,289 |
Property and equipment, net | 1,026,378 | 370,109 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 132,114 | 58,947 |
Building and Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 829,078 | 259,523 |
Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 69,538 | 36,742 |
Construction in Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $45,885 | $44,186 |
Discontinued_Operations_Additi
Discontinued Operations - Additional Information (Detail) (USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2012 |
Discontinued Operations and Disposal Groups [Abstract] | ' |
Loss on disposal of entity | $0.20 |
Discontinued_Operations_Summar
Discontinued Operations - Summary of Results from Discontinued Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Discontinued Operations and Disposal Groups [Abstract] | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' |
Loss from discontinued operations, net of income taxes | ($51) | ($182) | ($20) | ($572) |
LongTerm_Debt_Components_of_Lo
Long-Term Debt - Components of Long Term Debt (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Nov. 01, 2011 |
In Thousands, unless otherwise specified | |||
Line of Credit Facility [Line Items] | ' | ' | ' |
Aggregate senior note principal amount | $1,029,322 | $617,136 | $150,000 |
Less: current portion | -13,320 | -15,195 | ' |
Long-term debt | 1,016,002 | 601,941 | ' |
Senior Secured Term Loans [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Aggregate senior note principal amount | 294,375 | 292,500 | ' |
Senior Secured Revolving Line of Credit [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Aggregate senior note principal amount | 164,000 | 53,500 | ' |
12.875% Senior Notes Due 2018 [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Aggregate senior note principal amount | 96,366 | 96,216 | ' |
6.125% Senior Notes Due 2021 [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Aggregate senior note principal amount | 150,000 | 150,000 | ' |
5.125% Senior Notes due 2022 [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Aggregate senior note principal amount | 300,000 | ' | ' |
9.0% and 9.5% Revenue Bonds [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Aggregate senior note principal amount | $24,581 | $24,920 | ' |
LongTerm_Debt_Components_of_Lo1
Long-Term Debt - Components of Long Term Debt (Parenthetical) (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
12.875% Senior Notes Due 2018 [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Debt instrument interest rate | 12.88% | 12.88% |
Senior notes maturity date | '2018 | '2018 |
6.125% Senior Notes Due 2021 [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Debt instrument interest rate | 6.13% | 6.13% |
Senior notes maturity date | '2021 | '2021 |
5.125% Senior Notes due 2022 [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Debt instrument interest rate | 5.13% | 5.13% |
Senior notes maturity date | '2022 | '2022 |
9.0% Revenue Bonds [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Debt instrument interest rate | 9.00% | 9.00% |
9.5% Revenue Bonds [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Debt instrument interest rate | 9.50% | 9.50% |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Nov. 01, 2011 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Nov. 11, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Nov. 11, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Nov. 11, 2012 | Sep. 30, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 12, 2013 | Sep. 30, 2014 | Nov. 01, 2011 | Mar. 12, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Jul. 01, 2014 | Sep. 30, 2014 | Jul. 01, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
Park Royal [Member] | Park Royal [Member] | 9.0% and 9.5% Revenue Bonds [Member] | 9.0% and 9.5% Revenue Bonds [Member] | 9.0% and 9.5% Revenue Bonds [Member] | 9.0% Revenue Bonds [Member] | 9.0% Revenue Bonds [Member] | 9.0% Revenue Bonds [Member] | 9.0% Revenue Bonds [Member] | 9.5% Revenue Bonds [Member] | 9.5% Revenue Bonds [Member] | 9.5% Revenue Bonds [Member] | 9.5% Revenue Bonds [Member] | Base Rate Loans [Member] | Revolving Credit Facility [Member] | Term Loans [Member] | Eurodollar Rate Loans [Member] | Senior Secured Credit Facility [Member] | Senior Secured Credit Facility [Member] | Senior Secured Credit Facility [Member] | Senior Secured Credit Facility [Member] | 12.875% Senior Notes Due 2018 [Member] | 12.875% Senior Notes Due 2018 [Member] | 12.875% Senior Notes Due 2018 [Member] | 6.125% Senior Notes Due 2021 [Member] | 6.125% Senior Notes Due 2021 [Member] | 6.125% Senior Notes Due 2021 [Member] | 6.125% Senior Notes Due 2021 [Member] | 5.125% Senior Notes due 2022 [Member] | 5.125% Senior Notes due 2022 [Member] | 5.125% Senior Notes due 2022 [Member] | 5.125% Senior Notes due 2022 [Member] | 5.125% Senior Notes due 2022 [Member] | March 31, 2014 to December 31, 2014 [Member] | March 31, 2015 to December 31, 2015 [Member] | March 31, 2016 to December 31, 2016 [Member] | March 31, 2017 to December 31, 2017 [Member] | March 31, 2018 to December 31, 2018 [Member] | Amended and Restated Senior Credit Facility [Member] | |||||
Park Royal [Member] | Park Royal [Member] | Park Royal [Member] | Park Royal [Member] | Park Royal [Member] | Amended and Restated Credit Facility [Member] | Amended and Restated Credit Facility [Member] | January 1, 2013 through February 12, 2014 [Member] | February 13, 2014 through March 31, 2014 [Member] | London Interbank Offered Rate (LIBOR) [Member] | Prior to March 15, 2016 [Member] | Prior To March Fifteen Two Thousand Sixteen Thirty Five Percent Redemption [Member] | Prior To July One Two Thousand And Seventeen [Member] | Prior To July One Two Thousand And Seventeen Thirty Five Percent Redemption [Member] | ||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior secured credit facility initiation date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Apr-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount under revolving line of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000,000 | $300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in credit facility | 150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restrictive covenants on investments, Description | 'The Company may now invest, in any given fiscal year, up to five percent (5%) of its total assets in both joint ventures and foreign subsidiaries, respectively; provided that the aggregate amount of investments in both joint ventures and foreign subsidiaries, respectively, may not exceed ten percent (10%) of its total assets over the life of the Amended and Restated Senior Credit Facility; provided further that the aggregate amount of investments made in both joint ventures and foreign subsidiaries collectively pursuant to the foregoing may not exceed fifteen percent (15%) of its total assets. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount available under revolving line of credit | 135,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term loan principal payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,900,000 | 3,800,000 | 5,600,000 | 7,500,000 | 9,400,000 | ' |
Debt instrument maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Dec-30 | ' | ' | ' | 1-Dec-40 | ' | ' | ' | ' | ' | 13-Feb-19 | ' | ' | ' | ' | ' | ' | 15-Mar-21 | ' | ' | ' | 1-Jul-22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13-Feb-19 |
Interest on borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | ' | 2.75% | ' | ' | ' | 2.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Debt Default, Amount | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest on undrawn loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | ' | ' | 15,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000,000 | 150,000,000 | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Issue rate of senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 98.32% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount value on principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | 9.00% | ' | 9.00% | 9.50% | 9.50% | ' | 9.50% | ' | ' | ' | ' | ' | ' | ' | ' | 12.88% | 12.88% | 12.88% | 6.13% | 6.13% | ' | ' | ' | 5.13% | 5.13% | ' | ' | ' | ' | ' | ' | ' | ' |
Interest on the notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Semi-annually, in arrears, on November 1 and May 1 of each year | ' | ' | 'Payable semi-annually in arrears on March 15 and September 15 of each year. | ' | ' | ' | 'Payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2015. | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate senior note principal amount | 1,029,322,000 | ' | 617,136,000 | 150,000,000 | ' | ' | 24,581,000 | 24,920,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, maximum redemption amount | ' | 9,350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, redemption price percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 112.88% | ' | ' | ' | ' | 100.00% | 106.13% | ' | ' | ' | 100.00% | 105.13% | ' | ' | ' | ' | ' | ' |
Redemption percentage of senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | 35.00% | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt extinguishment charge | ' | -9,350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The Company may redeem the 6.125% Senior Notes at its option, in whole or part, at any time prior to March 15, 2016, at a price equal to 100% of the principal amount of the 6.125% Senior Notes redeemed, plus accrued and unpaid interest to the redemption date and plus an applicable premium. The Company may redeem the 6.125% Senior Notes, in whole or in part, on or after March 15, 2016, at the redemption prices set forth in the indenture governing the 6.125% Senior Notes plus accrued and unpaid interest to the redemption date. At any time on or before March 15, 2016, the Company may elect to redeem up to 35% of the aggregate principal amount of the 6.125% Senior Notes at a redemption price equal to 106.125% of the principal amount thereof, plus accrued and unpaid interest to the redemption date, with the net proceeds of one or more equity offerings. | ' | ' | ' | 'The Company may redeem the 5.125% Senior Notes at its option, in whole or part, at any time prior to July 1, 2017, at a price equal to 100% of the principal amount of the 5.125% Senior Notes redeemed, plus accrued and unpaid interest to the redemption date and plus an applicable premium. The Company may redeem the 5.125% Senior Notes, in whole or in part, on or after July 1, 2017, at the redemption prices set forth in the indenture governing the 5.125% Senior Notes plus accrued and unpaid interest to the redemption date. At any time on or before July 1, 2017, the Company may elect to redeem up to 35% of the aggregate principal amount of the 5.125% Senior Notes at a redemption price equal to 105.125% of the principal amount thereof, plus accrued and unpaid interest to the redemption date, with the net proceeds of one or more equity offerings. | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assumed debt on acquisition | ' | ' | ' | ' | ' | ' | ' | ' | 23,000,000 | ' | ' | ' | 7,500,000 | ' | ' | ' | 15,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair market value of the debt assumed | ' | ' | ' | ' | ' | ' | ' | ' | 25,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt service reserve fund within other assets | ' | ' | ' | ' | 2,300,000 | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument premium | ' | ' | ' | ' | ' | ' | ' | ' | $2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity_Additional_Information_
Equity - Additional Information (Detail) (USD $) | 0 Months Ended | 9 Months Ended | |
Jun. 17, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | |
Equity [Line Items] | ' | ' | ' |
Preferred stock, number of shares proposed to be issued | ' | 10,000,000 | 10,000,000 |
Common stock, number of shares proposed to be issued | ' | 90,000,000 | 90,000,000 |
Common stock voting rights | ' | 'One vote for each share | ' |
Common stock offered | 8,881,794 | 59,182,578 | 50,070,980 |
Common stock offer price | $44 | $0.01 | $0.01 |
Underwriting discount amount | $15,600,000 | ' | ' |
Additional offering-related expenses | 800,000 | ' | ' |
Net proceeds from sale of shares | ' | 374,431,000 | ' |
Equity [Member] | ' | ' | ' |
Equity [Line Items] | ' | ' | ' |
Net proceeds from sale of shares | $374,300,000 | ' | ' |
Maximum [Member] | ' | ' | ' |
Equity [Line Items] | ' | ' | ' |
Preferred stock, number of shares proposed to be issued | ' | 10,000,000 | ' |
Common stock, number of shares proposed to be issued | ' | 90,000,000 | ' |
EquityBased_Compensation_Addit
Equity-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Authorized common stock | 4,700,000 | ' | 4,700,000 | ' |
Equity incentive plan available for future grant | ' | ' | 2,664,749 | ' |
Annual increments in employee grants | ' | ' | 25.00% | ' |
Stock options, contractual term | ' | ' | '10 years | ' |
Equity-based compensation expense | $2,805,000 | $1,331,000 | $6,975,000 | $3,744,000 |
Unrecognized compensation expense related to unvested options | ' | ' | 33,600,000 | ' |
Vesting period | ' | ' | '1 year 7 months 6 days | ' |
Warrants outstanding and exercisable | 0 | ' | 0 | ' |
Deferred income tax benefit | ' | ' | 4,645,000 | 10,545,000 |
Tax realized from stock options exercised | 300,000 | 100,000 | 3,800,000 | 1,300,000 |
Stock Compensation Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Deferred income tax benefit | $1,100,000 | $600,000 | $2,800,000 | $1,500,000 |
EquityBased_Compensation_Stock
Equity-Based Compensation - Stock Option Activity (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Options outstanding, Beginning balance | 798,809 | 555,097 | ' |
Options granted | 218,263 | 411,800 | ' |
Options exercised | -182,888 | -126,662 | ' |
Options cancelled | -55,889 | -41,426 | ' |
Options outstanding, Ending balance | 778,295 | 798,809 | 555,097 |
Options outstanding, Weighted Average Exercise Price, Beginning balance | $21.93 | $13.13 | ' |
Options exercisable, Ending balance | 118,008 | 133,647 | ' |
Options granted, Weighted Average Exercise Price | $49.68 | $30.55 | ' |
Options exercised, Weighted Average Exercise Price | $15.31 | $9.36 | ' |
Options cancelled, Weighted Average Exercise Price | $33.65 | $23.50 | ' |
Options outstanding, Weighted Average Exercise Price, Ending balance | $31.92 | $21.93 | $13.13 |
Options outstanding, Aggregate Intrinsic Value, Beginning balance | $10,700 | $5,632 | ' |
Options exercisable, Weighted Average Exercise Price, Ending balance | $29.04 | $11.15 | ' |
Options granted, Aggregate Intrinsic Value | 97 | 2,059 | ' |
Options granted, Weighted Average Remaining Contractual Term | '9 years 3 months 4 days | '9 years 3 months 18 days | ' |
Options exercised, Aggregate Intrinsic Value | 4,994 | 2,803 | ' |
Options outstanding, Weighted Average Remaining Contractual Term | '8 years 4 days | '8 years 2 months 12 days | '7 years 6 months 11 days |
Options cancelled, Aggregate Intrinsic Value | ' | ' | ' |
Options exercisable, Weighted Average Remaining Contractual Term, Ending balance | '5 years 5 months 1 day | '4 years 9 months 22 days | ' |
Options outstanding, Aggregate Intrinsic Value, Ending balance | 14,349 | 10,700 | 5,632 |
Options exercisable, Aggregate Intrinsic Value, Ending balance | $3,840 | $3,472 | ' |
EquityBased_Compensation_Restr
Equity-Based Compensation - Restricted Stock Activity (Detail) (Restricted Stock Award [Member], USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Restricted Stock Award [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Unvested, Number of Shares/Units, Beginning balance | 461,697 | 318,063 |
Granted, Number of Shares | 456,384 | 290,845 |
Cancelled, Number of Shares | -68,769 | -53,056 |
Vested, Number of Shares | -113,376 | -94,155 |
Unvested, Number of Shares/Units, Ending balance | 735,936 | 461,697 |
Unvested, Weighted Average Grant-Date Fair Value, Beginning balance | $24.96 | $15.73 |
Granted, Weighted Average Grant-Date Fair Value | $48.89 | $31.31 |
Cancelled, Weighted Average Grant-Date Fair Value | $36 | $21.27 |
Vested, Weighted Average Grant-Date Fair Value | $23.84 | $15.52 |
Unvested , Weighted Average Grant-Date Fair Value, Ending balance | $38.95 | $24.96 |
EquityBased_Compensation_Restr1
Equity-Based Compensation - Restricted Stock Unit Activity (Detail) (Restricted Stock Units [Member], USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Restricted Stock Units [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Unvested, Number of Shares/Units, Beginning balance | 95,751 | 68,628 |
Granted, Number of Units | 108,449 | 72,876 |
Cancelled, Number of Units | ' | ' |
Vested, Number of Units | -79,087 | -45,753 |
Unvested, Number of Shares/Units, Ending balance | 125,113 | 95,751 |
Unvested, Weighted Average Grant-Date Fair Value, Beginning balance | $23.05 | $16.11 |
Granted, Weighted Average Grant-Date Fair Value | $50.75 | $29.39 |
Cancelled, Weighted Average Grant-Date Fair Value | ' | ' |
Vested, Weighted Average Grant-Date Fair Value | $21.81 | $16.11 |
Unvested , Weighted Average Grant-Date Fair Value, Ending balance | $38.73 | $23.05 |
EquityBased_Compensation_Sched
Equity-Based Compensation - Schedule of Stock Options Valuation Assumptions (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Weighted average grant-date fair value of options | $17.80 | $11.62 |
Risk-free interest rate | 1.70% | 1.00% |
Expected volatility | 36.00% | 40.00% |
Expected life (in years) | '5 years 6 months | '5 years 6 months |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Effective tax rates | 23.20% | 34.70% | 33.30% | 37.40% |
Derivatives_Additional_Informa
Derivatives - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Jun. 30, 2014 |
Contract | |||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' | ' |
Number of foreign currency forward contracts | ' | ' | 2 |
Gain associated with changes in fair value of the foreign currency forward contracts | $1.50 | $15.30 | ' |
Fair_Value_Measurements_Carryi
Fair Value Measurements - Carrying Amounts and Fair Values of Company's Amended and Restated Senior Credit Facilities and Contingent Consideration Liability (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Nov. 01, 2011 |
In Thousands, unless otherwise specified | |||
Disclosures Regarding Financial Instruments [Line Items] | ' | ' | ' |
Senior credit facility, carrying amount | $1,029,322 | $617,136 | $150,000 |
Business acquisition contingent consideration, carrying amount | 3,467 | 6,500 | ' |
Business acquisition contingent consideration, at fair value | 3,467 | 6,500 | ' |
Amended and Restated Senior Credit Facility [Member] | ' | ' | ' |
Disclosures Regarding Financial Instruments [Line Items] | ' | ' | ' |
Senior credit facility, carrying amount | 458,375 | 346,000 | ' |
Senior credit facility, fair value | 458,375 | 346,000 | ' |
12.875% Senior Notes Due 2018 [Member] | ' | ' | ' |
Disclosures Regarding Financial Instruments [Line Items] | ' | ' | ' |
Senior credit facility, carrying amount | 96,366 | 96,216 | ' |
Senior credit facility, fair value | 111,881 | 118,706 | ' |
6.125% Senior Notes Due 2021 [Member] | ' | ' | ' |
Disclosures Regarding Financial Instruments [Line Items] | ' | ' | ' |
Senior credit facility, carrying amount | 150,000 | 150,000 | ' |
Senior credit facility, fair value | 152,625 | 155,625 | ' |
5.125% Senior Notes due 2022 [Member] | ' | ' | ' |
Disclosures Regarding Financial Instruments [Line Items] | ' | ' | ' |
Senior credit facility, carrying amount | 300,000 | ' | ' |
Senior credit facility, fair value | 290,250 | ' | ' |
9.0% and 9.5% Revenue Bonds [Member] | ' | ' | ' |
Disclosures Regarding Financial Instruments [Line Items] | ' | ' | ' |
Senior credit facility, carrying amount | 24,581 | 24,920 | ' |
Senior credit facility, fair value | $24,581 | $24,920 | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 9 Months Ended | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 03, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Nov. 11, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Nov. 11, 2012 | |
Park Royal [Member] | McCallum [Member] | McCallum [Member] | 12.875% Senior Notes Due 2018 [Member] | 12.875% Senior Notes Due 2018 [Member] | 6.125% Senior Notes Due 2021 [Member] | 6.125% Senior Notes Due 2021 [Member] | 5.125% Senior Notes due 2022 [Member] | 5.125% Senior Notes due 2022 [Member] | 9.0% Revenue Bonds [Member] | 9.0% Revenue Bonds [Member] | 9.0% Revenue Bonds [Member] | 9.5% Revenue Bonds [Member] | 9.5% Revenue Bonds [Member] | 9.5% Revenue Bonds [Member] | |||
Park Royal [Member] | Park Royal [Member] | ||||||||||||||||
Disclosures Regarding Financial Instruments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument interest rate | ' | ' | ' | ' | ' | 12.88% | 12.88% | 6.13% | 6.13% | 5.13% | 5.13% | 9.00% | 9.00% | 9.00% | 9.50% | 9.50% | 9.50% |
Increase in fair value of contingent consideration liability | $500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration, Paid | 5,000,000 | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration liability | 3,467,000 | 6,500,000 | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash payments for earn-out agreement | ' | ' | ' | $6,000,000 | $6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Jun. 17, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Oct. 29, 2014 | Oct. 29, 2014 |
In Millions, except Share data, unless otherwise specified | State | CRC Health Group, Inc [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||
Facilities | ||||||
State | ||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' |
Number of facilities operated by CRC | ' | ' | ' | 120 | ' | ' |
Number of states covered under treatment services CRC | 24 | ' | ' | 30 | ' | ' |
Common stock, shares issued | 59,182,578 | 8,881,794 | 50,070,980 | ' | ' | 6,300,000 |
Common stock, par value per share | $0.01 | $44 | $0.01 | ' | ' | $0.01 |
Aggregate consideration to be paid under merger agreement | ' | ' | ' | ' | $1,175 | ' |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Facility | |
Beds | |
Segment Reporting Information [Line Items] | ' |
Number of states covered under inpatient psychiatric facilities | 24 |
Behavioral Healthcare Facilities [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Number of inpatient psychiatric facilities | 76 |
Number of licensed beds | 5,800 |
Behavioral Healthcare Facilities [Member] | U.S. Facilities [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Number of inpatient psychiatric facilities | 53 |
Number of states covered under inpatient psychiatric facilities | 24 |
Behavioral Healthcare Facilities [Member] | U.S. Facilities [Member] | Minimum [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Number of licensed beds | 4,500 |
Behavioral Healthcare Facilities [Member] | U.K. Facilities [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Number of inpatient psychiatric facilities | 23 |
Behavioral Healthcare Facilities [Member] | U.K. Facilities [Member] | Minimum [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Number of licensed beds | 1,200 |
Segment_Information_Summary_of
Segment Information - Summary of Financial Information by Operating Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | $294,479 | $184,702 | $709,700 | $523,409 |
Segment EBITDA | 65,066 | 38,481 | 149,062 | 106,137 |
Equity-based compensation expense | -2,805 | -1,331 | -6,975 | -3,744 |
Gain on foreign currency derivatives | 1,527 | ' | 15,262 | ' |
Debt extinguishment costs | ' | ' | ' | -9,350 |
Transaction-related expenses | -6,239 | -984 | -10,834 | -3,813 |
Interest expense, net | -14,068 | -9,465 | -33,505 | -27,672 |
Depreciation and amortization | -10,325 | -4,414 | -21,696 | -12,248 |
Income from continuing operations before income taxes | 33,156 | 22,287 | 91,314 | 49,310 |
U.S. Facilities [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 217,427 | 184,071 | 630,825 | 521,368 |
Segment EBITDA | 53,814 | 45,115 | 154,377 | 126,017 |
Equity-based compensation expense | ' | ' | ' | ' |
Gain on foreign currency derivatives | ' | ' | ' | ' |
Debt extinguishment costs | ' | ' | ' | ' |
Transaction-related expenses | ' | ' | ' | ' |
Interest expense, net | -517 | -926 | -1,665 | -2,114 |
Depreciation and amortization | -5,475 | -3,727 | -15,381 | -10,375 |
Income from continuing operations before income taxes | 47,822 | 40,462 | 137,331 | 113,528 |
U.K. Facilities [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 76,026 | ' | 76,026 | ' |
Segment EBITDA | 20,253 | ' | 20,253 | ' |
Equity-based compensation expense | ' | ' | ' | ' |
Gain on foreign currency derivatives | ' | ' | ' | ' |
Debt extinguishment costs | ' | ' | ' | ' |
Transaction-related expenses | -811 | ' | -811 | ' |
Interest expense, net | -9,451 | ' | -9,451 | ' |
Depreciation and amortization | -4,094 | ' | -4,094 | ' |
Income from continuing operations before income taxes | 5,897 | ' | 5,897 | ' |
Corporate and Other [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 1,026 | 631 | 2,849 | 2,041 |
Segment EBITDA | -9,001 | -6,634 | -25,568 | -19,880 |
Equity-based compensation expense | -2,805 | -1,331 | -6,975 | -3,744 |
Gain on foreign currency derivatives | 1,527 | ' | 15,262 | ' |
Debt extinguishment costs | ' | ' | ' | -9,350 |
Transaction-related expenses | -5,428 | -984 | -10,023 | -3,813 |
Interest expense, net | -4,100 | -8,539 | -22,389 | -25,558 |
Depreciation and amortization | -756 | -687 | -2,221 | -1,873 |
Income from continuing operations before income taxes | ($20,563) | ($18,175) | ($51,914) | ($64,218) |
Segment_Information_Summary_of1
Segment Information - Summary of Financial Information by Operating Segment, Goodwill (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Goodwill: | ' |
Beginning balance | $661,549 |
Increase from 2014 acquisitions | 148,883 |
Foreign currency translation loss | -6,199 |
Other | 414 |
Ending balance | 804,647 |
U.S. Facilities [Member] | ' |
Goodwill: | ' |
Beginning balance | 661,549 |
Increase from 2014 acquisitions | 31,586 |
Foreign currency translation loss | ' |
Other | 414 |
Ending balance | 693,549 |
U.K. Facilities [Member] | ' |
Goodwill: | ' |
Beginning balance | ' |
Increase from 2014 acquisitions | 117,297 |
Foreign currency translation loss | -6,199 |
Other | ' |
Ending balance | 111,098 |
Corporate and Other [Member] | ' |
Goodwill: | ' |
Beginning balance | ' |
Increase from 2014 acquisitions | ' |
Foreign currency translation loss | ' |
Other | ' |
Ending balance | ' |
Segment_Information_Summary_of2
Segment Information - Summary of Financial Information by Operating Segment, Assets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Assets | $2,140,468 | $1,224,659 |
U.S. Facilities [Member] | ' | ' |
Assets: | ' | ' |
Assets | 1,291,961 | 1,155,813 |
U.K. Facilities [Member] | ' | ' |
Assets: | ' | ' |
Assets | 743,288 | ' |
Corporate and Other [Member] | ' | ' |
Assets: | ' | ' |
Assets | $105,219 | $68,846 |
Partnerships_in_Care_Pension_P2
Partnerships in Care Pension Plan - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Jul. 01, 2014 |
Defined Benefit Plan, Funded Status of Plan [Abstract] | ' | ' |
Pension liability under defined benefit pension plan | $5,775,000 | $6,302,000 |
Fair value of plan assets | $62,800,000 | ' |
Partnerships_in_Care_Pension_P3
Partnerships in Care Pension Plan - Summary of Changes in Partnerships in Care Pension Plan Pension Liability (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Defined Benefit Plan, Funded Status of Plan [Abstract] | ' |
Pension liability at July 1, 2014 | $6,302 |
Employer contributions | -1,097 |
Net pension benefit expense | 897 |
Foreign currency translation loss | -327 |
Pension liability at September 30, 2014 | $5,775 |
Financial_Information_for_the_2
Financial Information for the Company and Its Subsidiaries - Additional Information (Detail) | Sep. 30, 2014 | Mar. 12, 2013 | Nov. 01, 2011 | Sep. 30, 2014 | Mar. 12, 2013 | Sep. 30, 2014 | Jul. 01, 2014 |
12.875% Senior Notes Due 2018 [Member] | 12.875% Senior Notes Due 2018 [Member] | 12.875% Senior Notes Due 2018 [Member] | 6.125% Senior Notes Due 2021 [Member] | 6.125% Senior Notes Due 2021 [Member] | 5.125% Senior Notes due 2022 [Member] | 5.125% Senior Notes due 2022 [Member] | |
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Debt instrument interest rate | 12.88% | 12.88% | 12.88% | 6.13% | 6.13% | 5.13% | 5.13% |
Financial_Information_for_the_3
Financial Information for the Company and Its Subsidiaries - Summary of Condensed Consolidating Balance Sheets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $42,179 | $4,569 | $4,034 | $49,399 |
Accounts receivable, net | 130,253 | 95,885 | ' | ' |
Deferred tax assets | 19,782 | 15,703 | ' | ' |
Other current assets | 37,626 | 28,969 | ' | ' |
Total current assets | 229,840 | 145,126 | ' | ' |
Property and equipment, net | 1,026,378 | 370,109 | ' | ' |
Goodwill | 804,647 | 661,549 | ' | ' |
Intangible assets, net | 21,621 | 20,568 | ' | ' |
Deferred tax assets - noncurrent | 15,933 | ' | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | ' |
Other assets | 42,049 | 27,307 | ' | ' |
Total assets | 2,140,468 | 1,224,659 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of long-term debt | 13,320 | 15,195 | ' | ' |
Accounts payable | 43,260 | 36,026 | ' | ' |
Accrued salaries and benefits | 56,213 | 37,721 | ' | ' |
Other accrued liabilities | 29,747 | 25,748 | ' | ' |
Total current liabilities | 142,540 | 114,690 | ' | ' |
Long-term debt | 1,016,002 | 601,941 | ' | ' |
Deferred tax liabilities - noncurrent | 64,771 | 7,971 | ' | ' |
Other liabilities | 30,579 | 19,347 | ' | ' |
Total liabilities | 1,253,892 | 743,949 | ' | ' |
Total equity | 886,576 | 480,710 | ' | ' |
Total liabilities and equity | 2,140,468 | 1,224,659 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable, net | 0 | 0 | ' | ' |
Deferred tax assets | 0 | 0 | ' | ' |
Other current assets | 0 | 0 | ' | ' |
Total current assets | 0 | 0 | ' | ' |
Property and equipment, net | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangible assets, net | 0 | 0 | ' | ' |
Deferred tax assets - noncurrent | 3,347 | ' | ' | ' |
Investment in subsidiaries | 1,693,275 | 1,034,160 | ' | ' |
Other assets | 204,562 | 46,236 | ' | ' |
Total assets | 1,901,184 | 1,080,396 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of long-term debt | 13,125 | 15,000 | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Accrued salaries and benefits | 0 | 0 | ' | ' |
Other accrued liabilities | 9,867 | 4,876 | ' | ' |
Total current liabilities | 22,992 | 19,876 | ' | ' |
Long-term debt | 991,616 | 577,216 | ' | ' |
Deferred tax liabilities - noncurrent | 0 | 2,594 | ' | ' |
Other liabilities | 0 | 0 | ' | ' |
Total liabilities | 1,014,608 | 599,686 | ' | ' |
Total equity | 886,576 | 480,710 | ' | ' |
Total liabilities and equity | 1,901,184 | 1,080,396 | ' | ' |
Combined Subsidiary Guarantors [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 10,421 | 0 | 0 | 49,307 |
Accounts receivable, net | 111,706 | 86,597 | ' | ' |
Deferred tax assets | 18,894 | 15,284 | ' | ' |
Other current assets | 31,772 | 27,886 | ' | ' |
Total current assets | 172,793 | 129,767 | ' | ' |
Property and equipment, net | 412,958 | 340,175 | ' | ' |
Goodwill | 596,214 | 564,539 | ' | ' |
Intangible assets, net | 19,015 | 18,578 | ' | ' |
Deferred tax assets - noncurrent | 0 | ' | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | ' |
Other assets | 17,926 | 11,675 | ' | ' |
Total assets | 1,218,906 | 1,064,734 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Accounts payable | 34,774 | 36,289 | ' | ' |
Accrued salaries and benefits | 42,515 | 36,027 | ' | ' |
Other accrued liabilities | 12,620 | 19,982 | ' | ' |
Total current liabilities | 89,909 | 92,298 | ' | ' |
Long-term debt | 0 | 0 | ' | ' |
Deferred tax liabilities - noncurrent | 19,512 | 11,138 | ' | ' |
Other liabilities | 24,361 | 19,347 | ' | ' |
Total liabilities | 133,782 | 122,783 | ' | ' |
Total equity | 1,085,124 | 941,951 | ' | ' |
Total liabilities and equity | 1,218,906 | 1,064,734 | ' | ' |
Combined Non-Guarantors [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 31,758 | 6,494 | 5,350 | 92 |
Accounts receivable, net | 18,547 | 9,288 | ' | ' |
Deferred tax assets | 888 | 419 | ' | ' |
Other current assets | 5,854 | 1,083 | ' | ' |
Total current assets | 57,047 | 17,284 | ' | ' |
Property and equipment, net | 613,420 | 29,934 | ' | ' |
Goodwill | 208,433 | 97,010 | ' | ' |
Intangible assets, net | 2,606 | 1,990 | ' | ' |
Deferred tax assets - noncurrent | 16,916 | ' | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | ' |
Other assets | 2,321 | 8,082 | ' | ' |
Total assets | 900,743 | 154,300 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of long-term debt | 195 | 195 | ' | ' |
Accounts payable | 8,486 | 1,662 | ' | ' |
Accrued salaries and benefits | 13,698 | 1,694 | ' | ' |
Other accrued liabilities | 7,260 | 890 | ' | ' |
Total current liabilities | 29,639 | 4,441 | ' | ' |
Long-term debt | 207,146 | 57,650 | ' | ' |
Deferred tax liabilities - noncurrent | 49,589 | 0 | ' | ' |
Other liabilities | 6,218 | 0 | ' | ' |
Total liabilities | 292,592 | 62,091 | ' | ' |
Total equity | 608,151 | 92,209 | ' | ' |
Total liabilities and equity | 900,743 | 154,300 | ' | ' |
Consolidating Adjustments [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | -1,925 | -1,316 | 0 |
Accounts receivable, net | 0 | 0 | ' | ' |
Deferred tax assets | 0 | 0 | ' | ' |
Other current assets | 0 | 0 | ' | ' |
Total current assets | 0 | -1,925 | ' | ' |
Property and equipment, net | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangible assets, net | 0 | 0 | ' | ' |
Deferred tax assets - noncurrent | -4,330 | ' | ' | ' |
Investment in subsidiaries | -1,693,275 | -1,034,160 | ' | ' |
Other assets | -182,760 | -38,686 | ' | ' |
Total assets | -1,880,365 | -1,074,771 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Accounts payable | 0 | -1,925 | ' | ' |
Accrued salaries and benefits | 0 | 0 | ' | ' |
Other accrued liabilities | 0 | 0 | ' | ' |
Total current liabilities | 0 | -1,925 | ' | ' |
Long-term debt | -182,760 | -32,925 | ' | ' |
Deferred tax liabilities - noncurrent | -4,330 | -5,761 | ' | ' |
Other liabilities | 0 | 0 | ' | ' |
Total liabilities | -187,090 | -40,611 | ' | ' |
Total equity | -1,693,275 | -1,034,160 | ' | ' |
Total liabilities and equity | ($1,880,365) | ($1,074,771) | ' | ' |
Financial_Information_for_the_4
Financial Information for the Company and Its Subsidiaries - Summary of Condensed Consolidating Statement of Statement of Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Revenue before provision for doubtful accounts | $303,001 | $190,574 | $729,784 | $539,230 |
Provision for doubtful accounts | -8,522 | -5,872 | -20,084 | -15,821 |
Revenue | 294,479 | 184,702 | 709,700 | 523,409 |
Salaries, wages and benefits | 168,632 | 103,789 | 408,680 | 298,904 |
Professional fees | 14,878 | 8,956 | 36,151 | 27,294 |
Supplies | 14,062 | 9,806 | 34,722 | 28,017 |
Rents and leases | 3,214 | 2,656 | 8,872 | 7,377 |
Other operating expenses | 31,432 | 22,345 | 79,188 | 59,424 |
Depreciation and amortization | 10,325 | 4,414 | 21,696 | 12,248 |
Interest expense, net | 14,068 | 9,465 | 33,505 | 27,672 |
Gain on foreign currency derivatives | -1,527 | ' | -15,262 | ' |
Debt extinguishment costs | ' | ' | ' | 9,350 |
Transaction-related expenses | 6,239 | 984 | 10,834 | 3,813 |
Total expenses | 261,323 | 162,415 | 618,386 | 474,099 |
Income from continuing operations before income taxes | 33,156 | 22,287 | 91,314 | 49,310 |
Equity in earnings of subsidiaries | 0 | 0 | 0 | 0 |
Provision for income taxes | 7,703 | 7,741 | 30,383 | 18,439 |
Income (loss) from continuing operations | 25,453 | 14,546 | 60,931 | 30,871 |
Loss from discontinued operations, net of income taxes | -51 | -182 | -20 | -572 |
Net income (loss) | 25,402 | 14,364 | 60,911 | 30,299 |
Other comprehensive loss: | ' | ' | ' | ' |
Foreign currency translation loss | -36,857 | ' | -36,857 | ' |
Other comprehensive loss | -36,857 | ' | -36,857 | ' |
Comprehensive (loss) income | -11,455 | 14,364 | 24,054 | 30,299 |
Comprehensive (loss) income | -11,455 | 14,364 | 24,054 | 30,299 |
Parent [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Revenue before provision for doubtful accounts | 0 | 0 | 0 | 0 |
Provision for doubtful accounts | 0 | 0 | 0 | 0 |
Revenue | 0 | 0 | 0 | 0 |
Salaries, wages and benefits | 2,805 | 1,331 | 6,975 | 3,744 |
Professional fees | 0 | 0 | 0 | 0 |
Supplies | 0 | 0 | 0 | 0 |
Rents and leases | 0 | 0 | 0 | 0 |
Other operating expenses | 0 | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 | 0 |
Interest expense, net | 4,096 | 8,542 | 22,409 | 25,570 |
Gain on foreign currency derivatives | -1,527 | ' | -15,262 | ' |
Debt extinguishment costs | ' | ' | ' | 9,350 |
Transaction-related expenses | 0 | 0 | 0 | 0 |
Total expenses | 5,374 | 9,873 | 14,122 | 38,664 |
Income from continuing operations before income taxes | -5,374 | -9,873 | -14,122 | -38,664 |
Equity in earnings of subsidiaries | 28,607 | 21,087 | 69,446 | 54,340 |
Provision for income taxes | -2,169 | -3,150 | -5,587 | -14,623 |
Income (loss) from continuing operations | 25,402 | 14,364 | 60,911 | 30,299 |
Loss from discontinued operations, net of income taxes | 0 | 0 | 0 | 0 |
Net income (loss) | 25,402 | 14,364 | 60,911 | 30,299 |
Other comprehensive loss: | ' | ' | ' | ' |
Foreign currency translation loss | 0 | ' | 0 | ' |
Other comprehensive loss | 0 | ' | 0 | ' |
Comprehensive (loss) income | 25,402 | 14,364 | 60,911 | 30,299 |
Comprehensive (loss) income | 25,402 | 14,364 | 60,911 | 30,299 |
Combined Subsidiary Guarantors [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Revenue before provision for doubtful accounts | 212,376 | 179,560 | 612,801 | 516,467 |
Provision for doubtful accounts | -7,444 | -5,660 | -17,908 | -14,932 |
Revenue | 204,932 | 173,900 | 594,893 | 501,535 |
Salaries, wages and benefits | 117,261 | 98,166 | 342,890 | 285,760 |
Professional fees | 9,816 | 7,954 | 28,760 | 25,447 |
Supplies | 10,784 | 9,170 | 30,137 | 26,718 |
Rents and leases | 2,419 | 2,394 | 7,527 | 6,872 |
Other operating expenses | 18,979 | 19,896 | 62,579 | 53,922 |
Depreciation and amortization | 5,874 | 4,072 | 16,540 | 11,379 |
Interest expense, net | 6,439 | 0 | 6,439 | 0 |
Gain on foreign currency derivatives | 0 | ' | 0 | ' |
Debt extinguishment costs | ' | ' | ' | 0 |
Transaction-related expenses | 5,428 | 984 | 10,023 | 3,813 |
Total expenses | 177,000 | 142,636 | 504,895 | 413,911 |
Income from continuing operations before income taxes | 27,932 | 31,264 | 89,998 | 87,624 |
Equity in earnings of subsidiaries | 0 | 0 | 0 | 0 |
Provision for income taxes | 12,517 | 10,680 | 36,766 | 33,143 |
Income (loss) from continuing operations | 15,415 | 20,584 | 53,232 | 54,481 |
Loss from discontinued operations, net of income taxes | -51 | -182 | -20 | -572 |
Net income (loss) | 15,364 | 20,402 | 53,212 | 53,909 |
Other comprehensive loss: | ' | ' | ' | ' |
Foreign currency translation loss | 0 | ' | 0 | ' |
Other comprehensive loss | 0 | ' | 0 | ' |
Comprehensive (loss) income | 15,364 | 20,402 | 53,212 | 53,909 |
Comprehensive (loss) income | 15,364 | 20,402 | 53,212 | 53,909 |
Combined Non-Guarantors [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Revenue before provision for doubtful accounts | 90,625 | 11,014 | 116,983 | 22,763 |
Provision for doubtful accounts | -1,078 | -212 | -2,176 | -889 |
Revenue | 89,547 | 10,802 | 114,807 | 21,874 |
Salaries, wages and benefits | 48,566 | 4,292 | 58,815 | 9,400 |
Professional fees | 5,062 | 1,002 | 7,391 | 1,847 |
Supplies | 3,278 | 636 | 4,585 | 1,299 |
Rents and leases | 795 | 262 | 1,345 | 505 |
Other operating expenses | 12,453 | 2,449 | 16,609 | 5,502 |
Depreciation and amortization | 4,451 | 342 | 5,156 | 869 |
Interest expense, net | 3,533 | 923 | 4,657 | 2,102 |
Gain on foreign currency derivatives | 0 | ' | 0 | ' |
Debt extinguishment costs | ' | ' | ' | 0 |
Transaction-related expenses | 811 | 0 | 811 | 0 |
Total expenses | 78,949 | 9,906 | 99,369 | 21,524 |
Income from continuing operations before income taxes | 10,598 | 896 | 15,438 | 350 |
Equity in earnings of subsidiaries | 0 | 0 | 0 | 0 |
Provision for income taxes | -2,645 | 211 | -796 | -81 |
Income (loss) from continuing operations | 13,243 | 685 | 16,234 | 431 |
Loss from discontinued operations, net of income taxes | 0 | 0 | 0 | 0 |
Net income (loss) | 13,243 | 685 | 16,234 | 431 |
Other comprehensive loss: | ' | ' | ' | ' |
Foreign currency translation loss | -36,857 | ' | -36,857 | ' |
Other comprehensive loss | -36,857 | ' | -36,857 | ' |
Comprehensive (loss) income | -23,614 | 685 | -20,623 | 431 |
Comprehensive (loss) income | -23,614 | 685 | -20,623 | 431 |
Consolidating Adjustments [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Revenue before provision for doubtful accounts | 0 | 0 | 0 | 0 |
Provision for doubtful accounts | 0 | 0 | 0 | 0 |
Revenue | 0 | 0 | 0 | 0 |
Salaries, wages and benefits | 0 | 0 | 0 | 0 |
Professional fees | 0 | 0 | 0 | 0 |
Supplies | 0 | 0 | 0 | 0 |
Rents and leases | 0 | 0 | 0 | 0 |
Other operating expenses | 0 | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 | 0 |
Interest expense, net | 0 | 0 | 0 | 0 |
Gain on foreign currency derivatives | 0 | ' | 0 | ' |
Debt extinguishment costs | ' | ' | ' | 0 |
Transaction-related expenses | 0 | 0 | 0 | 0 |
Total expenses | 0 | 0 | 0 | 0 |
Income from continuing operations before income taxes | 0 | 0 | 0 | 0 |
Equity in earnings of subsidiaries | -28,607 | -21,087 | -69,446 | -54,340 |
Provision for income taxes | 0 | 0 | ' | 0 |
Income (loss) from continuing operations | -28,607 | -21,087 | -69,446 | -54,340 |
Loss from discontinued operations, net of income taxes | 0 | 0 | 0 | 0 |
Net income (loss) | -28,607 | -21,087 | -69,446 | -54,340 |
Other comprehensive loss: | ' | ' | ' | ' |
Foreign currency translation loss | 0 | ' | 0 | ' |
Other comprehensive loss | 0 | ' | 0 | ' |
Comprehensive (loss) income | -28,607 | -21,087 | -69,446 | -54,340 |
Comprehensive (loss) income | ($28,607) | ($21,087) | ($69,446) | ($54,340) |
Financial_Information_for_the_5
Financial Information for the Company and Its Subsidiaries - Summary of Condensed Consolidating Statement of Cash Flows (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Operating activities: | ' | ' |
Net income (loss) | $60,911 | $30,299 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | ' | ' |
Equity in earnings of subsidiaries | 0 | 0 |
Depreciation and amortization | 21,696 | 12,248 |
Amortization of debt issuance costs | 2,229 | 1,686 |
Equity-based compensation expense | 6,975 | 3,744 |
Deferred income tax expense | 4,645 | 10,545 |
Loss from discontinued operations, net of taxes | 20 | 572 |
Gain on foreign currency derivatives | -15,262 | ' |
Debt extinguishment costs | ' | 9,350 |
Other | 163 | 16 |
Change in operating assets and liabilities, net of effect of acquisitions: | ' | ' |
Accounts receivable, net | -25,395 | -18,378 |
Other current assets | 1,322 | -5,657 |
Other assets | -2,086 | -1,676 |
Accounts payable and other accrued liabilities | 1,078 | 2,596 |
Accrued salaries and benefits | 8,972 | -2,114 |
Other liabilities | 3,805 | 3,538 |
Net cash (used in) provided by continuing operating activities | 69,073 | 46,769 |
Net cash used in discontinued operating activities | -27 | -541 |
Net cash (used in) provided by operating activities | 69,046 | 46,228 |
Investing activities: | ' | ' |
Cash paid for acquisitions, net of cash acquired | -722,797 | -135,605 |
Cash paid for capital expenditures | -70,680 | -50,678 |
Cash paid for real estate acquisitions | -22,247 | -4,676 |
Settlement of foreign currency derivatives | 15,262 | ' |
Other | -733 | -1,088 |
Net cash used in investing activities | -801,195 | -192,047 |
Financing activities: | ' | ' |
Borrowings on long-term debt | 307,500 | 150,000 |
Borrowings on revolving credit facility | 230,500 | 27,500 |
Principal payments on revolving credit facility | -120,000 | -8,000 |
Principal payments on long-term debt | -5,625 | -5,625 |
Repayment of long-term debt | ' | -52,500 |
Payment of debt issuance costs | -10,909 | -4,307 |
Issuance of common stock, net | 374,431 | ' |
Payment of premium on note redemption | ' | -6,759 |
Common stock withheld for minimum statutory taxes, net | -3,477 | -1,120 |
Excess tax benefit from equity awards | 3,779 | 1,265 |
Cash paid for contingent consideration | -5,000 | ' |
Cash (used in) provided by intercompany activity | 0 | 0 |
Net cash provided by (used in) financing activities | 771,199 | 100,454 |
Effect of exchange rate changes on cash | -1,440 | ' |
Net increase (decrease) in cash and cash equivalents | 37,610 | -45,365 |
Cash and cash equivalents at beginning of the period | 4,569 | 49,399 |
Cash and cash equivalents at end of the period | 42,179 | 4,034 |
Parent [Member] | ' | ' |
Operating activities: | ' | ' |
Net income (loss) | 60,911 | 30,299 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | ' | ' |
Equity in earnings of subsidiaries | -69,446 | -54,340 |
Depreciation and amortization | 0 | 0 |
Amortization of debt issuance costs | 1,891 | 1,686 |
Equity-based compensation expense | 6,975 | 3,744 |
Deferred income tax expense | -754 | -70 |
Loss from discontinued operations, net of taxes | 0 | 0 |
Gain on foreign currency derivatives | -15,262 | ' |
Debt extinguishment costs | ' | 9,350 |
Other | 0 | 0 |
Change in operating assets and liabilities, net of effect of acquisitions: | ' | ' |
Accounts receivable, net | 0 | 0 |
Other current assets | 0 | 0 |
Other assets | 165 | 0 |
Accounts payable and other accrued liabilities | 0 | 0 |
Accrued salaries and benefits | 0 | 0 |
Other liabilities | 0 | 0 |
Net cash (used in) provided by continuing operating activities | -15,520 | -9,331 |
Net cash used in discontinued operating activities | 0 | 0 |
Net cash (used in) provided by operating activities | -15,520 | -9,331 |
Investing activities: | ' | ' |
Cash paid for acquisitions, net of cash acquired | 0 | 0 |
Cash paid for capital expenditures | 0 | 0 |
Cash paid for real estate acquisitions | 0 | 0 |
Settlement of foreign currency derivatives | 15,262 | ' |
Other | 0 | 0 |
Net cash used in investing activities | 15,262 | 0 |
Financing activities: | ' | ' |
Borrowings on long-term debt | 307,500 | 150,000 |
Borrowings on revolving credit facility | 230,500 | 27,500 |
Principal payments on revolving credit facility | -120,000 | -8,000 |
Principal payments on long-term debt | -5,625 | -5,625 |
Repayment of long-term debt | ' | -52,500 |
Payment of debt issuance costs | -10,909 | -4,307 |
Issuance of common stock, net | 374,431 | ' |
Payment of premium on note redemption | ' | -6,759 |
Common stock withheld for minimum statutory taxes, net | -3,477 | -1,120 |
Excess tax benefit from equity awards | 3,779 | 1,265 |
Cash paid for contingent consideration | 0 | ' |
Cash (used in) provided by intercompany activity | -775,941 | -91,123 |
Net cash provided by (used in) financing activities | 258 | 9,331 |
Effect of exchange rate changes on cash | 0 | ' |
Net increase (decrease) in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents at beginning of the period | 0 | 0 |
Cash and cash equivalents at end of the period | 0 | 0 |
Combined Subsidiary Guarantors [Member] | ' | ' |
Operating activities: | ' | ' |
Net income (loss) | 53,212 | 53,909 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | ' | ' |
Equity in earnings of subsidiaries | 0 | 0 |
Depreciation and amortization | 16,540 | 11,379 |
Amortization of debt issuance costs | 0 | 0 |
Equity-based compensation expense | 0 | 0 |
Deferred income tax expense | 3,218 | 10,797 |
Loss from discontinued operations, net of taxes | 20 | 572 |
Gain on foreign currency derivatives | 0 | ' |
Debt extinguishment costs | ' | 0 |
Other | 134 | 16 |
Change in operating assets and liabilities, net of effect of acquisitions: | ' | ' |
Accounts receivable, net | -23,347 | -18,920 |
Other current assets | 1,067 | -5,638 |
Other assets | -2,086 | -1,676 |
Accounts payable and other accrued liabilities | -2,752 | 2,763 |
Accrued salaries and benefits | 6,546 | -2,307 |
Other liabilities | 3,549 | 7,693 |
Net cash (used in) provided by continuing operating activities | 56,101 | 58,588 |
Net cash used in discontinued operating activities | -27 | -541 |
Net cash (used in) provided by operating activities | 56,074 | 58,047 |
Investing activities: | ' | ' |
Cash paid for acquisitions, net of cash acquired | -722,797 | -135,605 |
Cash paid for capital expenditures | -60,223 | -50,378 |
Cash paid for real estate acquisitions | -22,247 | -4,676 |
Settlement of foreign currency derivatives | 0 | ' |
Other | -733 | -1,088 |
Net cash used in investing activities | -806,000 | -191,747 |
Financing activities: | ' | ' |
Borrowings on long-term debt | 0 | 0 |
Borrowings on revolving credit facility | 0 | 0 |
Principal payments on revolving credit facility | 0 | 0 |
Principal payments on long-term debt | 0 | 0 |
Repayment of long-term debt | ' | 0 |
Payment of debt issuance costs | 0 | 0 |
Issuance of common stock, net | 0 | ' |
Payment of premium on note redemption | ' | 0 |
Common stock withheld for minimum statutory taxes, net | 0 | 0 |
Excess tax benefit from equity awards | 0 | 0 |
Cash paid for contingent consideration | -5,000 | ' |
Cash (used in) provided by intercompany activity | 765,347 | 84,393 |
Net cash provided by (used in) financing activities | 760,347 | 84,393 |
Effect of exchange rate changes on cash | 0 | ' |
Net increase (decrease) in cash and cash equivalents | 10,421 | -49,307 |
Cash and cash equivalents at beginning of the period | 0 | 49,307 |
Cash and cash equivalents at end of the period | 10,421 | 0 |
Combined Non-Guarantors [Member] | ' | ' |
Operating activities: | ' | ' |
Net income (loss) | 16,234 | 431 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | ' | ' |
Equity in earnings of subsidiaries | 0 | 0 |
Depreciation and amortization | 5,156 | 869 |
Amortization of debt issuance costs | 338 | 0 |
Equity-based compensation expense | 0 | 0 |
Deferred income tax expense | 2,181 | -182 |
Loss from discontinued operations, net of taxes | 0 | 0 |
Gain on foreign currency derivatives | 0 | ' |
Debt extinguishment costs | ' | 0 |
Other | 29 | 0 |
Change in operating assets and liabilities, net of effect of acquisitions: | ' | ' |
Accounts receivable, net | -2,048 | 542 |
Other current assets | 255 | -19 |
Other assets | 0 | 0 |
Accounts payable and other accrued liabilities | 3,830 | -167 |
Accrued salaries and benefits | 2,426 | 193 |
Other liabilities | 256 | -4,155 |
Net cash (used in) provided by continuing operating activities | 28,657 | -2,488 |
Net cash used in discontinued operating activities | 0 | 0 |
Net cash (used in) provided by operating activities | 28,657 | -2,488 |
Investing activities: | ' | ' |
Cash paid for acquisitions, net of cash acquired | 0 | 0 |
Cash paid for capital expenditures | -10,457 | -300 |
Cash paid for real estate acquisitions | 0 | 0 |
Settlement of foreign currency derivatives | 0 | ' |
Other | 0 | 0 |
Net cash used in investing activities | -10,457 | -300 |
Financing activities: | ' | ' |
Borrowings on long-term debt | 0 | 0 |
Borrowings on revolving credit facility | 0 | 0 |
Principal payments on revolving credit facility | 0 | 0 |
Principal payments on long-term debt | -165 | 0 |
Repayment of long-term debt | ' | 0 |
Payment of debt issuance costs | 0 | 0 |
Issuance of common stock, net | 0 | ' |
Payment of premium on note redemption | ' | 0 |
Common stock withheld for minimum statutory taxes, net | 0 | 0 |
Excess tax benefit from equity awards | 0 | 0 |
Cash paid for contingent consideration | 0 | ' |
Cash (used in) provided by intercompany activity | 8,669 | 8,046 |
Net cash provided by (used in) financing activities | 8,504 | 8,046 |
Effect of exchange rate changes on cash | -1,440 | ' |
Net increase (decrease) in cash and cash equivalents | 25,264 | 5,258 |
Cash and cash equivalents at beginning of the period | 6,494 | 92 |
Cash and cash equivalents at end of the period | 31,758 | 5,350 |
Consolidating Adjustments [Member] | ' | ' |
Operating activities: | ' | ' |
Net income (loss) | -69,446 | -54,340 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | ' | ' |
Equity in earnings of subsidiaries | 69,446 | 54,340 |
Depreciation and amortization | 0 | 0 |
Amortization of debt issuance costs | 0 | 0 |
Equity-based compensation expense | 0 | 0 |
Deferred income tax expense | 0 | 0 |
Loss from discontinued operations, net of taxes | 0 | 0 |
Gain on foreign currency derivatives | 0 | ' |
Debt extinguishment costs | ' | 0 |
Other | 0 | 0 |
Change in operating assets and liabilities, net of effect of acquisitions: | ' | ' |
Accounts receivable, net | 0 | 0 |
Other current assets | 0 | 0 |
Other assets | -165 | 0 |
Accounts payable and other accrued liabilities | 0 | 0 |
Accrued salaries and benefits | 0 | 0 |
Other liabilities | 0 | 0 |
Net cash (used in) provided by continuing operating activities | -165 | 0 |
Net cash used in discontinued operating activities | 0 | 0 |
Net cash (used in) provided by operating activities | -165 | 0 |
Investing activities: | ' | ' |
Cash paid for acquisitions, net of cash acquired | 0 | 0 |
Cash paid for capital expenditures | 0 | 0 |
Cash paid for real estate acquisitions | 0 | 0 |
Settlement of foreign currency derivatives | 0 | ' |
Other | 0 | 0 |
Net cash used in investing activities | 0 | 0 |
Financing activities: | ' | ' |
Borrowings on long-term debt | 0 | 0 |
Borrowings on revolving credit facility | 0 | 0 |
Principal payments on revolving credit facility | 0 | 0 |
Principal payments on long-term debt | 165 | 0 |
Repayment of long-term debt | ' | 0 |
Payment of debt issuance costs | 0 | 0 |
Issuance of common stock, net | 0 | ' |
Payment of premium on note redemption | ' | 0 |
Common stock withheld for minimum statutory taxes, net | 0 | 0 |
Excess tax benefit from equity awards | 0 | 0 |
Cash paid for contingent consideration | 0 | ' |
Cash (used in) provided by intercompany activity | 1,925 | -1,316 |
Net cash provided by (used in) financing activities | 2,090 | -1,316 |
Effect of exchange rate changes on cash | 0 | ' |
Net increase (decrease) in cash and cash equivalents | 1,925 | -1,316 |
Cash and cash equivalents at beginning of the period | -1,925 | 0 |
Cash and cash equivalents at end of the period | $0 | ($1,316) |