In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 |
| 10-K | 10-K | 10-K |
Cash Flows (used in) from Operating Activities: | | | |
Net loss | -428.4 | -116.7 | -71.1 |
Adjustments to reconcile net loss to net cash (used in) from operating activities: | | | |
Depreciation and amortization expense | 90.6 | 49.4 | 18.5 |
Change in fair value of contingent consideration | -5.0 | -11.7 | 0.1 |
Change in fair value of warrant liabilities | -72.8 | -82.9 | |
Loss on extinguishment of debt | 1.4 | 13.1 | 23.3 |
Amortization of debt issuance costs | 3.8 | 4.9 | 6.7 |
Non-cash lease expense | 6.5 | 0.7 | |
Stock-based compensation, net | 54.8 | 28.0 | 0.5 |
Paid in kind interest expense | | | 7.3 |
Changes in operating assets and liabilities: | | | |
Accounts receivable, net | -106.7 | -15.1 | -30.3 |
Other assets | 10.1 | -16.6 | -2.8 |
Prepaid expenses and other current assets | -51.7 | -11.8 | -5.4 |
Interest accrued due to sellers | 0.1 | 1.5 | 1.7 |
Accounts payable and accrued expenses | 32.6 | 33.7 | 27.3 |
Other liabilities | -7.6 | 5.5 | 8.9 |
Net cash (used in) provided by operating activities | -146.3 | -118.0 | -9.2 |
|
Cash Flows (used in) from Investing Activities: | | | |
Purchase of property and equipment | -49.5 | -34.4 | -12.1 |
Acquisitions of subsidiaries including non-compete intangibles, net of cash acquired | -5.8 | -1,070.3 | -207.6 |
Payments to sellers | -8.8 | -26.6 | -53.2 |
Net cash (used in) provided by investing activities | -64.2 | -1,131.2 | -268.4 |
|
Cash Flows (used in) from Financing Activities: | | | |
Payments of long-term debt | -6.4 | -657.9 | -318.8 |
Debt issuance costs | -0.1 | -17.4 | -31.1 |
Proceeds from long-term debt | | 1,120.0 | 664.1 |
Proceeds from CS Revolving Line of Credit | 109.0 | | 9.7 |
Repayments of CS Revolving Line of Credit | -25.0 | | -9.7 |
Proceeds from insurance financing arrangements | 2.5 | 1.7 | 2.9 |
Payments of principal on insurance financing arrangements | -2.5 | -1.7 | -2.9 |
Other | | 0.1 | |
Net cash (used in) provided by financing activities | 74.7 | 1,378.6 | 282.2 |
Net increase (decrease) in cash, cash equivalents and restricted cash | -135.8 | 129.4 | 4.6 |
|
Cash, cash equivalents and restricted cash at beginning of year | | | |
Cash, cash equivalents and restricted cash at end of period | | | |
Supplemental cash flow information: | | | |
Interest paid | 61.2 | 41.8 | 22.6 |
Income taxes paid | 0.6 | 1.2 | |
Non-cash investing and financing activities: | | | |
Right-of-use assets obtained in exchange of lease liabilities | 71.9 | 152.6 | |
Issuance of Class A common stock for acquisitions | 39.3 | 64.5 | |