MultiPlan Corp
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
CTEV$28.67+19.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net (loss) income | $(539,689) | $209 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 20,989 | 18,206 |
| Amortization of intangible assets | 85,971 | 85,127 |
| Amortization of the right-of-use asset | 1,264 | 1,403 |
| Loss on impairment of goodwill and intangible assets | 519,050 | — |
| Stock-based compensation | 5,694 | 3,695 |
| Deferred income taxes | (56,874) | 3,438 |
| Amortization of debt issuance costs and discounts | 2,885 | 2,603 |
| Gain on extinguishment of debt | (5,913) | (36,778) |
| Loss on disposal of property and equipment | 106 | 172 |
| (Gain) loss on change in fair value of Private Placement Warrants and Unvested Founder Shares | (130) | 1,631 |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | (5,885) | 11,875 |
| Prepaid expenses and other assets | (4,223) | (144) |
| Prepaid taxes | 1,364 | (4,566) |
| Operating lease obligation | (1,296) | (1,737) |
| Accounts payable, accrued taxes, accrued expenses, legal contingencies and other | 26,403 | (20,919) |
| Net cash provided by operating activities | 49,716 | 64,215 |
| Investing activities: | ||
| Purchases of property and equipment | (30,544) | (23,101) |
| Net cash used in investing activities | (30,544) | (23,101) |
| Financing activities: | ||
| Repurchase of 5.750% Notes | — | (99,954) |
| Repayments of Term Loan B | (3,313) | (3,313) |
| Repurchase of Senior Convertible PIK Notes | (14,886) | — |
| Taxes paid on settlement of vested share awards | (3,352) | (452) |
| Purchase of treasury stock | (10,370) | (5,718) |
| Proceeds from issuance of common stock under Employee Stock Purchase Plan | 433 | — |
| Net cash used in financing activities | (31,488) | (109,437) |
| Net decrease in cash, cash equivalents and restricted cash | (12,316) | (68,323) |
| Cash, cash equivalents and restricted cash at beginning of period | 81,494 | 340,559 |
| Cash, cash equivalents and restricted cash at end of period | $69,178 | $272,236 |
| Cash and cash equivalents | $58,695 | $265,728 |
| Restricted cash | 10,483 | 6,508 |
| Cash, cash equivalents and restricted cash at end of period | $69,178 | $272,236 |
| Noncash investing and financing activities: | ||
| Purchases of property and equipment not yet paid | $9,692 | $6,105 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid during the period for: | ||
| Interest | $(60,742) | $(61,717) |
| Income taxes, net of refunds | $(2,260) | $(3,133) |
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