Addus HomeCare Corp
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 25, 2025
ADUS$126.29+3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
(amounts in thousands)
| For the Years | |||
|---|---|---|---|
| Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $73,598 | $62,516 | $46,025 |
| Adjustments to reconcile net income to net cash provided by operating activities, net of acquisitions: | |||
| Depreciation and amortization | 13,530 | 14,126 | 14,060 |
| Deferred income taxes | 13,192 | 2,819 | 3,908 |
| Stock-based compensation | 11,165 | 10,319 | 10,625 |
| Amortization of debt issuance costs under the credit facility | 1,050 | 860 | 860 |
| Provision for credit losses | 1,121 | 731 | 678 |
| Gain on disposal of assets | (13) | — | — |
| Impairment of operating lease assets | 4,968 | 13 | 1,174 |
| (Gain) loss on termination of operating leases | 42 | (23) | — |
| Gain on divestiture of business | (3,725) | — | — |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | 22,137 | 15,666 | 20,592 |
| Prepaid expenses and other current assets | (19,065) | (3,113) | 1,471 |
| Government stimulus advances | 5,474 | (7,577) | 8,739 |
| Accounts payable | (1,909) | 2,025 | 2,514 |
| Accrued payroll | (146) | 9,176 | (918) |
| Accrued expenses and other liabilities | (4,985) | 4,709 | (4,618) |
| Net cash provided by operating activities | 116,434 | 112,247 | 105,110 |
| Cash flows from investing activities: | |||
| Acquisition of businesses, net of cash acquired | (353,946) | (109,797) | (98,290) |
| Purchases of property and equipment | (6,050) | (9,454) | (8,300) |
| Proceeds received from disposal of assets | 29 | 15 | — |
| Proceeds received from divestiture of business | 5,357 | — | — |
| Net cash used in investing activities | (354,610) | (119,236) | (106,590) |
| Cash flows from financing activities: | |||
| Proceeds from borrowings on revolver — credit facility | 233,000 | 110,000 | 47,000 |
| Payments on revolver loan — credit facility | (136,353) | (118,500) | (137,000) |
| Proceeds from public offering | 175,600 | — | — |
| Payments for debt issuance costs under the credit facility | (3,386) | — | — |
| Cash received from exercise of stock options | 3,435 | 319 | 2,546 |
| Net cash (used in) provided by financing activities | 272,296 | (8,181) | (87,454) |
| Net change in cash | 34,120 | (15,170) | (88,934) |
| Cash, at beginning of period | 64,791 | 79,961 | 168,895 |
| Cash, at end of period | $98,911 | $64,791 | $79,961 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest | $6,520 | $10,254 | $7,985 |
| Cash paid for income taxes | 26,251 | 14,985 | 1,483 |
| Supplemental disclosures of non-cash investing and financing activities | |||
| Leasehold improvements acquired through tenant allowances | 130 | — | 295 |
| Licensing fees included in Fixed assets | — | 4,000 | 4,000 |
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