CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Consolidated net (loss) income	$ (94,852)	$ (14,556)	$ 72,631
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	16,794	18,200	18,347
Provision for allowances	(999)	20,787	17,355
Deferred income tax expense (benefit)	10,068	(1,944)	1,304
Non-cash lease expense	1,025	992	1,111
Impairment charges	77,851	2,888	719
Loss on early extinguishment of debt	0	0	1,723
Equity-related severance and compensation	7,144	6,025	6,579
Other non-cash costs	755	99	1,252
Changes in operating assets and liabilities:
Accounts receivable	56,726	128,327	251,427
Prepaid expenses and other assets	(2,334)	(4,990)	268
Income taxes	7,176	(2,278)	6,955
Accounts payable and accrued expenses	(34,570)	(29,753)	(126,611)
Operating lease liabilities	(2,189)	(2,791)	(4,371)
Other	5,656	(890)	(191)
Net cash provided by operating activities	48,251	120,116	248,498
Cash flows from investing activities
Acquisition-related settlements	0	0	199
Purchases of property and equipment	(8,161)	(8,714)	(13,974)
Net cash used in investing activities	(8,161)	(8,714)	(13,775)
Cash flows from financing activities
Principal payments on term loan	0	0	(73,875)
Borrowings under Senior Secured Asset-Based revolving credit facility	1,449	18,024	720,991
Repayments on Senior Secured Asset-Based revolving credit facility	(1,449)	(18,024)	(797,791)
Cash paid for shares withheld for taxes	(1,762)	(2,960)	(4,904)
Payment of contingent consideration	(4,411)	(6,579)	(7,500)
Stock repurchase and retirement	(6,833)	(37,310)	(57,654)
Other	0	0	(508)
Net cash used in financing activities	(13,006)	(46,849)	(221,241)
Effect of exchange rate changes on cash	21	(14)	8
Change in cash and cash equivalents	27,105	64,539	13,490
Cash and cash equivalents at beginning of year	81,633	17,094	3,604
Cash and cash equivalents at end of year	108,738	81,633	17,094
Supplemental disclosure of cash flow information:
Interest paid	1,397	1,373	7,534
Income taxes (received) paid	$ (5,687)	$ 2,427	$ 21,986

CROSS COUNTRY HEALTHCARE INC 10-K