MODVQ · As filed with the SEC
ModivCare cash flow statement, by fiscal year
The statement as ModivCare presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Cash Flows · USD thousands
| USD thousands | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 |
|---|---|---|---|---|
| Operating activities | ||||
| Net loss | (201,278) | (204,460) | (31,806) | (6,585) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||
| Depreciation | 30,927 | 25,038 | 20,055 | 12,747 |
| Amortization | 78,538 | 79,233 | 80,360 | 44,251 |
| Provision for doubtful accounts | — | — | — | (2,296) |
| Stock-based compensation | 6,682 | 6,456 | 6,872 | 5,904 |
| Deferred income taxes | (26,027) | (17,652) | (36,663) | (17,691) |
| Impairment of goodwill | 105,302 | 183,100 | — | — |
| Loss on debt extinguishment | 11,797 | — | — | — |
| Amortization of deferred financing costs and debt discount | 6,668 | 5,246 | 5,125 | 2,730 |
| Other assets | — | (8,719) | — | — |
| Equity in net loss (income) of investee | 9,645 | (398) | 40,916 | 53,092 |
| Reduction of right-of-use assets | 11,444 | 12,344 | 11,640 | 11,330 |
| Changes in operating assets and liabilities: | ||||
| Accounts receivable and other receivables | (7,436) | (5,268) | (55,781) | (11,453) |
| Contract receivables | 26,164 | (72,828) | — | — |
| Prepaid expenses and other assets | 1,828 | 6,830 | (11,571) | (7,587) |
| Income tax refunds on sale of business | — | — | 0 | 0 |
| Insurance programs | — | — | — | 5,426 |
| Accrued contract payables | (94,849) | (76,798) | (87,299) | 107,698 |
| Accounts payable and accrued expenses | 39,101 | (7,677) | 57,249 | (23,460) |
| Accrued transportation costs | — | — | (6,443) | 23,620 |
| Deferred revenue | — | — | — | 1,239 |
| Accrued transportation costs | (500) | 394 | — | — |
| Other changes in operating assets and liabilities | — | (7,812) | (3,096) | (12,125) |
| Other changes in operating assets and liabilities | (4,414) | — | — | — |
| Net cash used in operating activities | (6,408) | (82,971) | (10,442) | 186,840 |
| Investing activities | ||||
| Purchase of property and equipment | (27,630) | (42,288) | (33,004) | (21,316) |
| Acquisitions, net of cash acquired | 0 | 0 | (78,809) | (664,309) |
| Net cash used in investing activities | (27,630) | (42,288) | (111,813) | (685,625) |
| Financing activities | ||||
| Net proceeds from short-term borrowings | 155,200 | 113,800 | — | — |
| Proceeds from issuance of long-term debt | 525,000 | 0 | 114,000 | 625,000 |
| Repurchase of common stock, for treasury | — | 0 | 0 | (39,994) |
| Repayment of long-term debt | (509,970) | — | (114,000) | (125,000) |
| Payment of debt issuance costs | (25,786) | (376) | (2,415) | (13,486) |
| Restricted stock surrendered for employee tax payment | (620) | (899) | (792) | (896) |
| Preferred stock redemption payment | — | — | 0 | 0 |
| Preferred stock dividends | — | — | 0 | 0 |
| Proceeds from common stock issued pursuant to stock option exercise | 0 | 31 | 6,789 | 3,227 |
| Other financing activities | 548 | 510 | 226 | 0 |
| Net cash provided by financing activities | 144,372 | 113,066 | 3,808 | 448,851 |
| Net change in cash, cash equivalents and restricted cash | 110,334 | (12,193) | (118,447) | (49,934) |
| Cash, cash equivalents and restricted cash at beginning of year | 2,782 | 14,975 | 133,422 | 183,356 |
| Cash, cash equivalents and restricted cash at end of year | 113,116 | 2,782 | 14,975 | 133,422 |
| Supplemental cash flow information | ||||
| Cash paid for interest | 76,767 | 64,200 | 59,392 | 32,178 |
| Cash paid for income taxes | 9,106 | 9,078 | 15,660 | 13,021 |
| Assets acquired under operating leases | 8,265 | 12,715 | 7,295 | 24,152 |
| Acquisitions: | ||||
| Purchase price | 0 | 0 | 79,200 | 678,655 |
| Less: | ||||
| Cash acquired | 0 | 0 | (391) | (14,346) |
| Acquisitions, net of cash acquired | 0 | 0 | 78,809 | 664,309 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.