For the year ending 2025-12-31, SGRY had -$29,600K decrease in cash & cash equivalents over the period. $195,600K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 98,900 | 12,500 | 135,300 | 87,000 |
| Depreciation and amortization | 176,000 | 152,600 | 118,100 | 114,800 |
| Non-cash lease expense | 37,800 | 38,900 | 35,200 | 34,800 |
| Non-cash interest expense, net | -9,600 | -6,500 | -25,000 | -25,900 |
| Equity-based compensation expense | 14,800 | 33,300 | 17,700 | 18,400 |
| Net loss on disposals, consolidations and deconsolidations | -30,400 | -40,600 | -14,400 | -11,100 |
| Loss on debt extinguishment | -1,300 | -5,100 | -15,500 | -14,900 |
| Deferred income taxes | 16,700 | 131,500 | -1,700 | 21,900 |
| Equity in earnings of unconsolidated affiliates, net of distributions received | 800 | 2,000 | 2,200 | 1,800 |
| Impairment charges | - | - | - | 0 |
| Other non-cash income | - | 0 | 0 | 7,500 |
| Accounts receivable | 53,800 | 72,100 | 47,200 | 35,300 |
| Medicare accelerated payments and deferred governmental grants | - | 0 | -1,200 | -58,400 |
| Doj settlement payments | - | - | 0 | 0 |
| Other operating assets and liabilities | 56,600 | 46,800 | 15,100 | 67,000 |
| Net cash provided by operating activities | 274,300 | 300,100 | 293,800 | 158,800 |
| Purchases of property and equipment | 78,700 | 90,400 | 88,800 | 80,600 |
| Payments for acquisitions, net of cash acquired | 162,100 | 378,800 | 80,000 | 146,400 |
| Proceeds from disposals of facilities and other assets | 46,500 | 2,600 | 25,800 | 12,900 |
| Purchases of equity investments | 13,300 | 1,700 | 50,300 | 95,100 |
| Proceeds from sales of equity investments | 1,500 | 4,600 | 1,400 | 12,800 |
| Other investing activities | 40,500 | 24,800 | 33,700 | 11,500 |
| Net cash used in investing activities | -246,600 | -488,500 | -225,600 | -307,900 |
| Principal payments on long-term debt | 1,039,800 | 1,279,300 | 807,100 | 862,000 |
| Payments related to ownership transactions with non-controlling interest holders | - | - | - | 3,400 |
| Borrowings of long-term debt | 1,202,600 | 1,729,700 | 826,600 | 217,800 |
| Payments of debt issuance costs | 4,100 | 14,900 | 24,300 | 0 |
| Payment of premium on debt extinguishment | - | 0 | 0 | 11,300 |
| Proceeds from equity offerings | - | 0 | 0 | 882,900 |
| Payments of equity offering costs | - | 0 | 0 | 25,200 |
| Distributions to non-controlling interest holders | 226,000 | 170,500 | 146,100 | 146,800 |
| Proceeds (payments) related to ownership transactions with non-controlling interest holders | 600 | 9,600 | 8,200 | - |
| Payments of preferred dividends | - | - | 0 | 0 |
| Other financing activities | 9,400 | -12,600 | -12,500 | -9,900 |
| Net cash (used in) provided by financing activities | -57,300 | 262,000 | -155,200 | 42,100 |
| Net (decrease) increase in cash and cash equivalents | -29,600 | 73,600 | -87,000 | -107,000 |
| Cash and cash equivalents at beginning of period | 269,500 | 195,900 | 282,900 | 389,900 |
| Cash and cash equivalents at end of period | 239,900 | 269,500 | 195,900 | 282,900 |
Surgery Partners, Inc. (SGRY)
Surgery Partners, Inc. (SGRY)