Ardent Health Partners Inc

For the period ended Dec 31, 2024. Filed Feb 27, 2025.

About this filing

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 27, 2025

ARDT$17.93-0.2%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows for the Years Ended

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

	Years Ended December 31,
	2024	2023	2022
Cash flows from operating activities:
Net income	$299,708	$128,977	$265,371
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	146,288	140,842	138,173
Other non-operating gains	(4,702)	(45)	(3,354)
Other non-operating gains, related party	—	—	(157,808)
Loss on extinguishment and modification of debt	2,158	—	—
Amortization of deferred financing costs and debt discounts	5,468	4,988	5,702
Deferred income taxes	24,044	3,996	46,115
Equity-based compensation	17,978	904	611
Loss (income) from non-consolidated affiliates	5,835	(1,653)	(7,515)
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
Accounts receivable	40,001	(181,099)	(17,184)
Inventories	(9,407)	1,665	4,671
Prepaid expenses and other current assets	(136,009)	(36,606)	8,348
Accounts payable and other accrued expenses and liabilities	(103,860)	136,824	14,423
Accrued salaries and benefits	27,524	22,905	(18,891)
Refundable advances of government stimulus income	—	—	(1,106)
Medicare accelerated payments	—	—	(315,915)
Net cash provided by (used in) operating activities	315,026	221,698	(38,359)
Cash flows from investing activities:
Investment in acquisitions, net of cash acquired	(35,542)	—	—
Purchases of property and equipment	(187,508)	(137,408)	(151,107)
Proceeds from divestitures	4,297	—	4,321
Proceeds from divestitures, related party	—	—	202,050
Other	(1,707)	(575)	(8,686)
Net cash (used in) provided by investing activities	(220,460)	(137,983)	46,578
Cash flows from financing activities:
Proceeds from initial public offering, net of underwriting discounts and commissions	208,656	—	—
Proceeds from revolving line of credit	—	125,000	—
Proceeds from insurance financing arrangements	10,797	24,749	4,337
Proceeds from long-term debt	3,600	6,619	878
Proceeds from deferred financing obligations, related party	—	—	204,000
Payments of principal on revolving line of credit	—	(125,000)	—
Payments of principal on insurance financing arrangements	(10,443)	(22,877)	(3,789)
Payments of principal on long-term debt	(108,371)	(13,645)	(17,287)
Payments of deferred financing obligations, related party	—	—	(202,050)
Debt issuance costs	(2,450)	—	—
Payments of initial public offering costs	(9,534)	—	(1,950)
Distributions to noncontrolling interests	(72,856)	(63,875)	(69,371)
Redemption of equity attributable to noncontrolling interests	—	(26,024)	—
Distributions to common unit holders	—	—	(174,811)
Other	5,243	(7,209)	(10,288)
Net cash provided by (used in) financing activities	24,642	(102,262)	(270,331)
Net increase (decrease) in cash and cash equivalents	119,208	(18,547)	(262,112)
Cash and cash equivalents at beginning of year	437,577	456,124	718,236
Cash and cash equivalents at end of year	$556,785	$437,577	$456,124

	Years Ended December 31,
	2024	2023	2022
Supplemental Cash Flow Information:
Interest payments, net of capitalized interest	$74,976	$81,610	$81,377
Interest payments, related party	$—	$—	$9,470
Non-cash purchases of property and equipment	$9,276	$16,392	$9,732
Offering costs not yet paid	$330	$—	$—
Income tax payments, net	$41,603	$19,433	$55,818

ContentsView on SEC.gov

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