Financial Information for the Company and Its Subsidiaries | 6 Months Ended |
Jun. 30, 2014 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' |
Financial Information for the Company and Its Subsidiaries | ' |
Financial Information for the Company and Its Subsidiaries |
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The 2020 Senior Unsecured Notes are senior unsecured obligations of the Company and are guaranteed by its existing and subsequently acquired or organized wholly-owned domestic subsidiaries. The 2020 Senior Unsecured Notes are guaranteed on a full and unconditional and joint and several basis, with limited exceptions considered customary for such guarantees, including the release of the guarantee when a subsidiary's assets are sold. The following condensed consolidating financial statements present the Company (as parent issuer), the subsidiary guarantors, the subsidiary non-guarantors and consolidating adjustments. These condensed consolidating financial statements have been prepared and presented in accordance with Rule 3-10 of Regulation S-X "Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered." The operating and investing activities of the separate legal entities are fully interdependent and integrated. Accordingly, the results of the separate legal entities are not representative of what the operating results would be on a stand-alone basis. |
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Condensed Consolidating Balance Sheet - June 30, 2014 (In thousands) |
| | Parent Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Total Consolidated |
Assets | | | | | | | | | | |
Current assets: | | | | | | | | | | |
Cash and cash equivalents | | $ | 3,836 | | | $ | — | | | $ | 41,075 | | | $ | — | | | $ | 44,911 | |
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Accounts receivable, net | | — | | | — | | | 110,538 | | | — | | | 110,538 | |
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Supplies inventory | | — | | | — | | | 18,808 | | | — | | | 18,808 | |
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Deferred income taxes | | 3,386 | | | — | | | — | | | — | | | 3,386 | |
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Prepaid and other current assets | | 26,784 | | | — | | | 12,393 | | | (4,519 | ) | | 34,658 | |
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Total current assets | | 34,006 | | | — | | | 182,814 | | | (4,519 | ) | | 212,301 | |
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Property and equipment, net | | 9,837 | | | — | | | 159,002 | | | — | | | 168,839 | |
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Investments in unconsolidated affiliates and other | | 1,514,925 | | | 1,479,602 | | | 932 | | | (2,968,913 | ) | | 26,546 | |
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Goodwill and intangible assets, net | | 19,990 | | | — | | | 839 | | | 1,794,493 | | | 1,815,322 | |
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Total assets | | $ | 1,578,758 | | | $ | 1,479,602 | | | $ | 343,587 | | | $ | (1,178,939 | ) | | $ | 2,223,008 | |
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Liabilities and Equity | | | | | | | | | | | | | | | |
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Current liabilities: | | | | | | | | | | | | | | | |
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Current portion of long-term debt | | $ | 10,714 | | | $ | — | | | $ | 9,494 | | | $ | — | | | $ | 20,208 | |
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Accounts payable | | 3,269 | | | — | | | 27,163 | | | (4,079 | ) | | 26,353 | |
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Accrued liabilities | | 23,849 | | | — | | | 16,211 | | | (440 | ) | | 39,620 | |
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Total current liabilities | | 37,832 | | | — | | | 52,868 | | | (4,519 | ) | | 86,181 | |
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Long-term debt | | 535,071 | | | — | | | 54,118 | | | (32,396 | ) | | 556,793 | |
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Deferred income taxes | | 194,181 | | | — | | | — | | | — | | | 194,181 | |
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Other long-term liabilities | | 7,372 | | | — | | | 18,323 | | | — | | | 25,695 | |
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Noncontrolling interests – redeemable | | — | | | — | | | 63,070 | | | 113,993 | | | 177,063 | |
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Equity: | | | | | | | | | | | |
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Total AmSurg Corp. equity | | 804,302 | | | 1,479,602 | | | 114,690 | | | (1,594,292 | ) | | 804,302 | |
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Noncontrolling interests – non-redeemable | | — | | | — | | | 40,518 | | | 338,275 | | | 378,793 | |
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Total equity | | 804,302 | | | 1,479,602 | | | 155,208 | | | (1,256,017 | ) | | 1,183,095 | |
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Total liabilities and equity | | $ | 1,578,758 | | | $ | 1,479,602 | | | $ | 343,587 | | | $ | (1,178,939 | ) | | $ | 2,223,008 | |
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Condensed Consolidating Balance Sheet - December 31, 2013 (In thousands) |
| | Parent Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Total Consolidated |
Assets | | | | | | | | | | |
Current assets: | | | | | | | | | | |
Cash and cash equivalents | | $ | 6,710 | | | $ | — | | | $ | 44,130 | | | $ | — | | | $ | 50,840 | |
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Accounts receivable, net | | — | | | — | | | 105,072 | | | — | | | 105,072 | |
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Supplies inventory | | 33 | | | — | | | 18,381 | | | — | | | 18,414 | |
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Deferred income taxes | | 3,097 | | | — | | | — | | | — | | | 3,097 | |
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Prepaid and other current assets | | 23,993 | | | — | | | 13,971 | | | (4,362 | ) | | 33,602 | |
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Total current assets | | 33,833 | | | — | | | 181,554 | | | (4,362 | ) | | 211,025 | |
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Property and equipment, net | | 9,829 | | | — | | | 160,066 | | | — | | | 169,895 | |
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Investments in unconsolidated affiliates and other | | 1,484,974 | | | 1,453,596 | | | — | | | (2,922,178 | ) | | 16,392 | |
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Goodwill and intangible assets, net | | 20,684 | | | — | | | 978 | | | 1,758,970 | | | 1,780,632 | |
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Total assets | | $ | 1,549,320 | | | $ | 1,453,596 | | | $ | 342,598 | | | $ | (1,167,570 | ) | | $ | 2,177,944 | |
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Liabilities and Equity | | | | | | | | | | | | | | | |
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Current liabilities: | | | | | | | | | | | | | | | |
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Current portion of long-term debt | | $ | 10,714 | | | $ | — | | | $ | 10,130 | | | $ | — | | | $ | 20,844 | |
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Accounts payable | | 1,972 | | | — | | | 29,487 | | | (3,958 | ) | | 27,501 | |
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Accrued liabilities | | 27,419 | | | — | | | 14,510 | | | (404 | ) | | 41,525 | |
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Total current liabilities | | 40,105 | | | — | | | 54,127 | | | (4,362 | ) | | 89,870 | |
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Long-term debt | | 561,429 | | | — | | | 53,246 | | | (31,377 | ) | | 583,298 | |
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Deferred income taxes | | 176,020 | | | — | | | — | | | — | | | 176,020 | |
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Other long-term liabilities | | 7,569 | | | — | | | 17,934 | | | — | | | 25,503 | |
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Noncontrolling interests – redeemable | | — | | | — | | | 63,704 | | | 113,993 | | | 177,697 | |
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Equity: | | | | | | | | | | | | | | | |
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Total AmSurg Corp. equity | | 764,197 | | | 1,453,596 | | | 114,671 | | | (1,568,267 | ) | | 764,197 | |
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Noncontrolling interests – non-redeemable | | — | | | — | | | 38,916 | | | 322,443 | | | 361,359 | |
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Total equity | | 764,197 | | | 1,453,596 | | | 153,587 | | | (1,245,824 | ) | | 1,125,556 | |
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Total liabilities and equity | | $ | 1,549,320 | | | $ | 1,453,596 | | | $ | 342,598 | | | $ | (1,167,570 | ) | | $ | 2,177,944 | |
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Condensed Consolidating Statement of Earnings and Comprehensive Income - For the Three Months Ended June 30, 2014 (In thousands) |
| | Parent Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Total Consolidated |
Revenues | | $ | 6,364 | | | $ | — | | | $ | 279,518 | | | $ | (4,777 | ) | | $ | 281,105 | |
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Operating expenses: | | | | | | | | | | |
Salaries and benefits | | 15,282 | | | — | | | 69,708 | | | (124 | ) | | 84,866 | |
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Supply cost | | — | | | — | | | 41,283 | | | — | | | 41,283 | |
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Other operating expenses | | 8,427 | | | — | | | 56,557 | | | (4,653 | ) | | 60,331 | |
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Depreciation and amortization | | 815 | | | — | | | 7,735 | | | — | | | 8,550 | |
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Total operating expenses | | 24,524 | | | — | | | 175,283 | | | (4,777 | ) | | 195,030 | |
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Gain on deconsolidation | | 1,366 | | | 1,366 | | | — | | | (1,366 | ) | | 1,366 | |
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Equity in earnings of unconsolidated affiliates | | 54,639 | | | 54,639 | | | — | | | (108,739 | ) | | 539 | |
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Operating income | | 37,845 | | | 56,005 | | | 104,235 | | | (110,105 | ) | | 87,980 | |
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Interest expense | | 6,342 | | | — | | | 552 | | | — | | | 6,894 | |
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Earnings from continuing operations before income taxes | | 31,503 | | | 56,005 | | | 103,683 | | | (110,105 | ) | | 81,086 | |
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Income tax expense | | 12,549 | | | — | | | 372 | | | — | | | 12,921 | |
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Net earnings from continuing operations | | 18,954 | | | 56,005 | | | 103,311 | | | (110,105 | ) | | 68,165 | |
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Net earnings from discontinued operations | | 7 | | | — | | | — | | | — | | | 7 | |
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Net earnings and comprehensive income | | 18,961 | | | 56,005 | | | 103,311 | | | (110,105 | ) | | 68,172 | |
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Less net earnings and comprehensive income attributable to noncontrolling interests: | | | | | | | | | | |
Net earnings from continuing operations | | — | | | — | | | 49,211 | | | — | | | 49,211 | |
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Net earnings from discontinued operations | | — | | | — | | | — | | | — | | | — | |
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Total net earnings and comprehensive income attributable to noncontrolling interests | | — | | | — | | | 49,211 | | | — | | | 49,211 | |
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Net earnings and comprehensive income attributable to AmSurg Corp. common shareholders | | $ | 18,961 | | | $ | 56,005 | | | $ | 54,100 | | | $ | (110,105 | ) | | $ | 18,961 | |
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Amounts attributable to AmSurg Corp. common shareholders: | | | | | | | | | | |
Earnings from continuing operations, net of income tax | | $ | 18,954 | | | $ | 56,005 | | | $ | 54,100 | | | $ | (110,105 | ) | | $ | 18,954 | |
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Discontinued operations, net of income tax | | 7 | | | — | | | — | | | — | | | 7 | |
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Net earnings and comprehensive income attributable to AmSurg Corp. common shareholders | | $ | 18,961 | | | $ | 56,005 | | | $ | 54,100 | | | $ | (110,105 | ) | | $ | 18,961 | |
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Condensed Consolidating Statement of Earnings and Comprehensive Income - For the Six Months Ended June 30, 2014 (In thousands) |
| | Parent Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Total Consolidated |
Revenues | | $ | 12,491 | | | $ | — | | | $ | 541,107 | | | $ | (9,386 | ) | | $ | 544,212 | |
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Operating expenses: | | | | | | | | | | |
Salaries and benefits | | 29,767 | | | — | | | 138,539 | | | (246 | ) | | 168,060 | |
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Supply cost | | — | | | — | | | 80,003 | | | — | | | 80,003 | |
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Other operating expenses | | 12,594 | | | — | | | 112,146 | | | (9,140 | ) | | 115,600 | |
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Depreciation and amortization | | 1,640 | | | — | | | 15,284 | | | — | | | 16,924 | |
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Total operating expenses | | 44,001 | | | — | | | 345,972 | | | (9,386 | ) | | 380,587 | |
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Gain on deconsolidation | | 3,411 | | | 3,411 | | | — | | | (3,411 | ) | | 3,411 | |
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Equity in earnings of unconsolidated affiliates | | 102,691 | | | 102,691 | | | — | | | (204,079 | ) | | 1,303 | |
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Operating income | | 74,592 | | | 106,102 | | | 195,135 | | | (207,490 | ) | | 168,339 | |
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Interest expense | | 12,793 | | | — | | | 1,064 | | | — | | | 13,857 | |
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Earnings from continuing operations before income taxes | | 61,799 | | | 106,102 | | | 194,071 | | | (207,490 | ) | | 154,482 | |
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Income tax expense | | 25,253 | | | — | | | 725 | | | — | | | 25,978 | |
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Net earnings from continuing operations | | 36,546 | | | 106,102 | | | 193,346 | | | (207,490 | ) | | 128,504 | |
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Net earnings (loss) from discontinued operations | | (390 | ) | | — | | | 172 | | | — | | | (218 | ) |
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Net earnings and comprehensive income | | 36,156 | | | 106,102 | | | 193,518 | | | (207,490 | ) | | 128,286 | |
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Less net earnings and comprehensive income attributable to noncontrolling interests: | | | | | | | | | | |
Net earnings from continuing operations | | — | | | — | | | 92,046 | | | — | | | 92,046 | |
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Net earnings from discontinued operations | | — | | | — | | | 84 | | | — | | | 84 | |
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Total net earnings and comprehensive income attributable to noncontrolling interests | | — | | | — | | | 92,130 | | | — | | | 92,130 | |
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Net earnings and comprehensive income attributable to AmSurg Corp. common shareholders | | $ | 36,156 | | | $ | 106,102 | | | $ | 101,388 | | | $ | (207,490 | ) | | $ | 36,156 | |
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Amounts attributable to AmSurg Corp. common shareholders: | | | | | | | | | | |
Earnings from continuing operations, net of income tax | | $ | 36,546 | | | $ | 106,102 | | | $ | 101,300 | | | $ | (207,490 | ) | | $ | 36,458 | |
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Discontinued operations, net of income tax | | (390 | ) | | — | | | 88 | | | — | | | (302 | ) |
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Net earnings and comprehensive income attributable to AmSurg Corp. common shareholders | | $ | 36,156 | | | $ | 106,102 | | | $ | 101,388 | | | $ | (207,490 | ) | | $ | 36,156 | |
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Condensed Consolidating Statement of Earnings and Comprehensive Income - For the Three Months Ended June 30, 2013 (In thousands) |
| | Parent Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Total Consolidated |
Revenues | | $ | 5,460 | | | $ | — | | | $ | 265,995 | | | $ | (4,353 | ) | | $ | 267,102 | |
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Operating expenses: | | | | | | | | | | |
Salaries and benefits | | 14,431 | | | — | | | 66,771 | | | (117 | ) | | 81,085 | |
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Supply cost | | — | | | — | | | 38,989 | | | — | | | 38,989 | |
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Other operating expenses | | 5,171 | | | — | | | 52,990 | | | (4,236 | ) | | 53,925 | |
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Depreciation and amortization | | 760 | | | — | | | 7,365 | | | — | | | 8,125 | |
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Total operating expenses | | 20,362 | | | — | | | 166,115 | | | (4,353 | ) | | 182,124 | |
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Gain on deconsolidation | | — | | | — | | | — | | | — | | | — | |
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Equity in earnings of unconsolidated affiliates | | 52,926 | | | 52,926 | | | — | | | (105,156 | ) | | 696 | |
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Operating income | | 38,024 | | | 52,926 | | | 99,880 | | | (105,156 | ) | | 85,674 | |
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Interest expense | | 7,026 | | | — | | | 486 | | | — | | | 7,512 | |
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Earnings from continuing operations before income taxes | | 30,998 | | | 52,926 | | | 99,394 | | | (105,156 | ) | | 78,162 | |
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Income tax expense | | 12,332 | | | — | | | 378 | | | — | | | 12,710 | |
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Net earnings from continuing operations | | 18,666 | | | 52,926 | | | 99,016 | | | (105,156 | ) | | 65,452 | |
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Net earnings (loss) from discontinued operations | | (103 | ) | | — | | | 487 | | | — | | | 384 | |
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Net earnings and comprehensive income | | 18,563 | | | 52,926 | | | 99,503 | | | (105,156 | ) | | 65,836 | |
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Less net earnings and comprehensive income attributable to noncontrolling interests: | | | | | | | | | | |
Net earnings from continuing operations | | — | | | — | | | 47,035 | | | — | | | 47,035 | |
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Net earnings from discontinued operations | | — | | | — | | | 238 | | | — | | | 238 | |
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Total net earnings and comprehensive income attributable to noncontrolling interests | | — | | | — | | | 47,273 | | | — | | | 47,273 | |
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Net earnings and comprehensive income attributable to AmSurg Corp. common shareholders | | $ | 18,563 | | | $ | 52,926 | | | $ | 52,230 | | | $ | (105,156 | ) | | $ | 18,563 | |
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Amounts attributable to AmSurg Corp. common shareholders: | | | | | | | | | | |
Earnings from continuing operations, net of income tax | | $ | 18,666 | | | $ | 52,926 | | | $ | 51,981 | | | $ | (105,156 | ) | | $ | 18,417 | |
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Discontinued operations, net of income tax | | (103 | ) | | — | | | 249 | | | — | | | 146 | |
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Net earnings and comprehensive income attributable to AmSurg Corp. common shareholders | | $ | 18,563 | | | $ | 52,926 | | | $ | 52,230 | | | $ | (105,156 | ) | | $ | 18,563 | |
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Condensed Consolidating Statement of Earnings and Comprehensive Income - For the Six Months Ended June 30, 2013 (In thousands) |
| | Parent Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Total Consolidated |
Revenues | | $ | 11,176 | | | $ | — | | | $ | 522,706 | | | $ | (8,591 | ) | | $ | 525,291 | |
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Operating expenses: | | | | | | | | | | |
Salaries and benefits | | 29,852 | | | — | | | 132,421 | | | (230 | ) | | 162,043 | |
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Supply cost | | — | | | — | | | 76,202 | | | — | | | 76,202 | |
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Other operating expenses | | 10,231 | | | — | | | 104,782 | | | (8,361 | ) | | 106,652 | |
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Depreciation and amortization | | 1,532 | | | — | | | 14,601 | | | — | | | 16,133 | |
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Total operating expenses | | 41,615 | | | — | | | 328,006 | | | (8,591 | ) | | 361,030 | |
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Gain on deconsolidation | | 2,237 | | | 2,237 | | | — | | | (2,237 | ) | | 2,237 | |
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Equity in earnings of unconsolidated affiliates | | 102,881 | | | 102,881 | | | — | | | (204,664 | ) | | 1,098 | |
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Operating income | | 74,679 | | | 105,118 | | | 194,700 | | | (206,901 | ) | | 167,596 | |
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Interest expense | | 13,949 | | | — | | | 1,105 | | | — | | | 15,054 | |
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Earnings from continuing operations before income taxes | | 60,730 | | | 105,118 | | | 193,595 | | | (206,901 | ) | | 152,542 | |
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Income tax expense | | 24,210 | | | — | | | 769 | | | — | | | 24,979 | |
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Net earnings from continuing operations | | 36,520 | | | 105,118 | | | 192,826 | | | (206,901 | ) | | 127,563 | |
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Net earnings (loss) from discontinued operations | | (146 | ) | | — | | | 692 | | | — | | | 546 | |
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Net earnings and comprehensive income | | 36,374 | | | 105,118 | | | 193,518 | | | (206,901 | ) | | 128,109 | |
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Less net earnings and comprehensive income attributable to noncontrolling interests: | | | | | | | | | | |
Net earnings from continuing operations | | — | | | — | | | 91,396 | | | — | | | 91,396 | |
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Net earnings from discontinued operations | | — | | | — | | | 339 | | | — | | | 339 | |
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Total net earnings and comprehensive income attributable to noncontrolling interests | | — | | | — | | | 91,735 | | | — | | | 91,735 | |
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Net earnings and comprehensive income attributable to AmSurg Corp. common shareholders | | $ | 36,374 | | | $ | 105,118 | | | $ | 101,783 | | | $ | (206,901 | ) | | $ | 36,374 | |
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Amounts attributable to AmSurg Corp. common shareholders: | | | | | | | | | | |
Earnings from continuing operations, net of income tax | | $ | 36,520 | | | $ | 105,118 | | | $ | 101,430 | | | $ | (206,901 | ) | | $ | 36,167 | |
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Discontinued operations, net of income tax | | (146 | ) | | — | | | 353 | | | — | | | 207 | |
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Net earnings and comprehensive income attributable to AmSurg Corp. common shareholders | | $ | 36,374 | | | $ | 105,118 | | | $ | 101,783 | | | $ | (206,901 | ) | | $ | 36,374 | |
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Condensed Consolidating Statement of Cash Flows - For the Six Months Ended June 30, 2014 (In thousands) |
| | Parent Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Total Consolidated |
Cash flows from operating activities: | | | | | | | | | | | |
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Net cash flows provided by operating activities | | $ | 27,919 | | | $ | 102,284 | | | $ | 202,508 | | | $ | (179,130 | ) | | $ | 153,581 | |
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Cash flows from investing activities: | | | | | | | | | | |
Acquisition of interests in surgery centers and related transactions | | — | | | (26,880 | ) | | — | | | 2,443 | | | (24,437 | ) |
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Acquisition of property and equipment | | (1,949 | ) | | — | | | (14,126 | ) | | — | | | (16,075 | ) |
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Proceeds from sale of interests in surgery centers | | — | | | 2,092 | | | — | | | — | | | 2,092 | |
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Other | | (1,259 | ) | | (122 | ) | | — | | | — | | | (1,381 | ) |
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Net cash flows used in investing activities | | (3,208 | ) | | (24,910 | ) | | (14,126 | ) | | 2,443 | | | (39,801 | ) |
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Cash flows from financing activities: | | | | | | | | | | |
Proceeds from long-term borrowings | | 70,000 | | | — | | | 4,246 | | | — | | | 74,246 | |
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Repayment on long-term borrowings | | (96,358 | ) | | — | | | (5,968 | ) | | — | | | (102,326 | ) |
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Distributions to owners, including noncontrolling interests | | — | | | (76,846 | ) | | (194,294 | ) | | 179,130 | | | (92,010 | ) |
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Changes in intercompany balances with affiliates, net | | (1,020 | ) | | — | | | 1,020 | | | — | | | — | |
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Other financing activities, net | | (207 | ) | | (528 | ) | | 3,559 | | | (2,443 | ) | | 381 | |
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Net cash flows used in financing activities | | (27,585 | ) | | (77,374 | ) | | (191,437 | ) | | 176,687 | | | (119,709 | ) |
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Net decrease in cash and cash equivalents | | (2,874 | ) | | — | | | (3,055 | ) | | — | | | (5,929 | ) |
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Cash and cash equivalents, beginning of period | | 6,710 | | | — | | | 44,130 | | | — | | | 50,840 | |
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Cash and cash equivalents, end of period | | $ | 3,836 | | | $ | — | | | $ | 41,075 | | | $ | — | | | $ | 44,911 | |
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Condensed Consolidating Statement of Cash Flows - For the Six Months Ended June 30, 2013 (In thousands) |
| | Parent Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Total Consolidated |
Cash flows from operating activities: | | | | | | | | | | | |
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Net cash flows provided by operating activities | | $ | 32,189 | | | $ | 102,630 | | | $ | 205,224 | | | $ | (187,493 | ) | | $ | 152,550 | |
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Cash flows from investing activities: | | | | | | | | | | |
Acquisition of interests in surgery centers and related transactions | | — | | | (18,424 | ) | | — | | | 78 | | | (18,346 | ) |
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Acquisition of property and equipment | | (1,189 | ) | | — | | | (11,283 | ) | | — | | | (12,472 | ) |
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Other | | — | | | 55 | | | — | | | — | | | 55 | |
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Net cash flows used in investing activities | | (1,189 | ) | | (18,369 | ) | | (11,283 | ) | | 78 | | | (30,763 | ) |
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Cash flows from financing activities: | | | | | | | | | | |
Proceeds from long-term borrowings | | 66,700 | | | — | | | 4,222 | | | — | | | 70,922 | |
|
Repayment on long-term borrowings | | (89,224 | ) | | — | | | (6,998 | ) | | — | | | (96,222 | ) |
|
Distributions to owners, including noncontrolling interests | | — | | | (84,863 | ) | | (194,156 | ) | | 187,493 | | | (91,526 | ) |
|
Changes in intercompany balances with affiliates, net | | 1,431 | | | — | | | (1,431 | ) | | — | | | — | |
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Other financing activities, net | | (12,371 | ) | | 602 | | | 411 | | | (78 | ) | | (11,436 | ) |
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Net cash flows used in financing activities | | (33,464 | ) | | (84,261 | ) | | (197,952 | ) | | 187,415 | | | (128,262 | ) |
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Net decrease in cash and cash equivalents | | (2,464 | ) | | — | | | (4,011 | ) | | — | | | (6,475 | ) |
|
Cash and cash equivalents, beginning of period | | 7,259 | | | — | | | 39,139 | | | — | | | 46,398 | |
|
Cash and cash equivalents, end of period | | $ | 4,795 | | | $ | — | | | $ | 35,128 | | | $ | — | | | $ | 39,923 | |
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