SEC Filings

10-Q
AMSURG CORP filed this Form 10-Q on 11/12/1997
Entire Document
 
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                                  AMSURG CORP.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS



<TABLE>
<CAPTION>
                                                                                 NINE MONTHS ENDED SEPTEMBER 30,
                                                                                 -------------------------------
                                                                                       1997            1996
                                                                                  ------------    ------------

<S>                                                                               <C>             <C>
Cash flows from operating activities:
    Net income (loss)                                                             $   (282,590)   $    999,950
       Income tax expense                                                            1,279,000         665,000
       Minority interest                                                             6,447,445       3,755,799
                                                                                  ------------    ------------

    Income before minority interest and income taxes                                 7,443,855       5,420,749
    Noncash expense, revenues, losses and gains included in net income (loss):
       Depreciation and amortization                                                 3,510,515       2,095,566
       Net loss on sale of assets                                                    1,494,333              --
       Increase in working capital items                                            (1,111,679)       (269,050)
       Other noncash transactions                                                       45,840          71,222
                                                                                  ------------    ------------

                                                                                    11,382,864       7,318,487
    Increase in other assets                                                          (686,388)       (152,301)
    Income taxes paid                                                                 (983,097)       (774,750)
                                                                                  ------------    ------------

           Net cash flows provided by operating activities                           9,713,379       6,391,436
                                                                                  ------------    ------------

Cash flows from investing activities:
    Acquisition of majority interest in surgery centers and physician practices    (12,626,007)     (8,535,956)
    Acquisition of property and equipment                                           (7,737,744)     (2,438,419)
    Proceeds from sale of assets                                                     1,978,462              --
    Decrease in long-term receivables                                                   35,118         102,939
                                                                                  ------------    ------------

           Net cash flows used in investing activities                             (18,350,171)    (10,871,436)
                                                                                  ------------    ------------

Cash flows from financing activities:
    Additions to long-term debt                                                     15,533,041       6,639,000
    Payments on long-term debt                                                      (2,903,616)     (2,091,237)
    Distributions to minority partners                                              (6,342,236)     (3,666,597)
    Issuance of common stock, net of issuance costs                                    494,006       1,670,510
    Capital contributions by minority partners                                       2,288,990         779,602
                                                                                  ------------    ------------

           Net cash flows provided by financing activities                           9,070,185       3,331,278
                                                                                  ------------    ------------

Net increase (decrease) in cash and cash equivalents                                   433,393      (1,148,722)
Cash and cash equivalents, beginning of period                                       3,192,408       3,469,661
                                                                                  ------------    ------------

Cash and cash equivalents, end of period                                          $  3,625,801    $  2,320,939
                                                                                  ============    ============
</TABLE>



See accompanying notes to the consolidated financial statements.



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