SEM · As filed with the SEC
Select Medical Holdings cash flow statement, by fiscal year
The statement as Select Medical Holdings 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 | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 |
|---|---|---|---|---|
| Operating activities | ||||
| Net income | 214,533 | 296,704 | 299,731 | 198,026 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Distributions from unconsolidated subsidiaries | 52,970 | 39,178 | 23,417 | 21,911 |
| Depreciation and amortization | 140,303 | 203,894 | 208,742 | 205,825 |
| Provision for expected credit losses | 2,362 | 4,279 | 1,030 | 174 |
| Equity in earnings of unconsolidated subsidiaries | (54,521) | (60,228) | (40,813) | (26,407) |
| Loss on extinguishment of debt | 0 | 19,038 | 175 | — |
| Gain on sale of assets and businesses | — | — | (57) | (2,714) |
| (Gain) loss on sale or disposal of assets | 8 | (1,063) | — | — |
| Stock compensation expense | 16,702 | 100,670 | 43,809 | 37,755 |
| Amortization of debt discount, premium and issuance costs | 3,136 | 2,963 | 2,647 | 2,272 |
| Deferred income taxes | — | — | (16,119) | 7,521 |
| Deferred income taxes | 30,652 | (32,434) | — | — |
| Changes in operating assets and liabilities, net of effects of business combinations: | ||||
| Accounts receivable | (45,185) | (95,845) | 1,156 | (52,183) |
| Other current assets | 413 | 18,072 | (29,374) | (4,866) |
| Other assets | (8,808) | 12,933 | 10,031 | 16,491 |
| Accounts payable | (854) | (16,789) | (6,412) | (48,042) |
| Accrued expenses | (5,244) | 26,492 | 84,095 | 12,839 |
| Government advances | — | 0 | 0 | (83,790) |
| Unearned government assistance | — | — | 0 | 13 |
| Net cash provided by operating activities | 346,467 | 517,864 | 582,058 | 284,825 |
| Investing activities | ||||
| Business combinations, net of cash acquired | (9,197) | (13,097) | (29,567) | (26,987) |
| Purchases of property, equipment, and other assets | (229,225) | (222,177) | (229,200) | (190,372) |
| Investment in businesses | (1,455) | 0 | (9,873) | (17,323) |
| Proceeds from sale of assets and businesses | — | 4,263 | 163 | 8,343 |
| Proceeds from sales and exchanges of assets and sale of business | 23,391 | — | — | — |
| Net cash used in investing activities | (216,486) | (231,011) | (268,477) | (226,339) |
| Financing activities | ||||
| Borrowings on revolving facilities | 1,290,000 | 1,240,000 | 905,000 | 1,120,000 |
| Payments on revolving facilities | (1,295,000) | (1,415,000) | (1,070,000) | (835,000) |
| Proceeds from term loans, net of issuance costs | 0 | 1,880,052 | 2,092,232 | — |
| Payments on term loans | (10,500) | (2,092,485) | (2,113,952) | 0 |
| Payment on senior notes, including call premium | 0 | (1,237,764) | — | — |
| Proceeds from senior notes, net of issuance costs | 0 | 1,176,598 | — | — |
| Borrowings of other debt | 101,218 | 24,892 | 31,399 | 25,666 |
| Principal payments on other debt | (34,328) | (65,280) | (46,946) | (35,594) |
| Dividends paid to common stockholders | (31,435) | (64,617) | (63,904) | (64,589) |
| Repurchase of common stock | (100,077) | (37,905) | (12,759) | (195,528) |
| Decrease in overdrafts | (9,052) | (4,471) | (1,687) | (10,392) |
| Proceeds from issuance of non-controlling interests | 15,904 | 15,713 | 22,935 | 9,530 |
| Distributions to and purchases of non-controlling interests | (89,882) | (60,001) | (63,531) | (43,107) |
| Purchase of membership interests of Concentra Group Holdings Parent | 0 | 0 | (6,268) | (5,876) |
| Proceeds from Concentra initial public offering | 0 | 511,198 | — | — |
| Cash transferred to Concentra at separation | 0 | (182,095) | — | — |
| Net cash used in financing activities | (163,152) | (311,165) | (327,481) | (34,890) |
| Net decrease in cash and cash equivalents | (33,171) | (24,312) | (13,900) | 23,596 |
| Cash and cash equivalents at beginning of period | — | 84,006 | 97,906 | — |
| Cash and cash equivalents at beginning of period | 59,694 | 84,006 | 97,906 | 74,310 |
| Cash and cash equivalents at end of period | 26,523 | — | 84,006 | 97,906 |
| Supplemental information: | ||||
| Cash paid for interest, excluding amounts received of $82,818 and $68,069 under the interest rate cap contract for the years ended December 31, 2023 and 2024, respectively. | 120,624 | 256,229 | 272,261 | 183,453 |
| Cash paid for taxes | 26,022 | 133,187 | 88,510 | 32,290 |
| Non-cash investing and financing activities: | ||||
| Liabilities for purchases of property and equipment | 36,268 | 21,784 | 18,403 | 51,529 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.