Variable Interest Entities (VIEs) (Tables)

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Assets and Liabilities, Variable Interest Entities

The following table includes assets that can only be used to settle the liabilities of APC and its consolidated entities and VIEs, including Alpha Care and Accountable Health Care, and to which the creditors of ApolloMed have no recourse, and liabilities to which the creditors of APC, including Alpha Care and Accountable Health Care, have no recourse to the general credit of ApolloMed, as the primary beneficiary of the VIEs. These assets and liabilities, with the exception of the investment in a privately held entity that does not report net asset value per share and amounts due to affiliates, which are eliminated upon consolidation with NMM, are included in the accompanying consolidated balance sheets (in thousands). The assets and liabilities of the Company’s other consolidated VIEs were not considered significant.


	September 30, 2022		December 31, 2021
Assets

Current assets
Cash and cash equivalents	$	106,477	$	161,762
Investment in marketable securities	32,467		49,066
Receivables, net	24,172		7,251
Receivables, net – related party	87,737		62,180
Income taxes receivable	12,456		1,342
Other receivables	2,106		1,833
Prepaid expenses and other current assets	7,662		11,734
Loan receivable – related party	—		4,000
Amount due from affiliate	37,770		6,598
Total current assets	310,847		305,766

Non-current assets
Land, property, and equipment, net	102,152		49,547
Intangible assets, net	56,296		58,282
Goodwill	118,891		109,656
Loan receivable, net of current portion	38		—
Loans receivable – related parties	2,125		89
Investment in affiliates	435,852		802,821
Investments in other entities – equity method	26,470		41,715
Investment in privately held entities	405		405

Operating lease right-of-use assets	6,944		4,953
Other assets	4,282		3,219

Total non-current assets	753,455		1,070,687

Total assets	$	1,064,302	$	1,376,453


	September 30, 2022		December 31, 2021
Current liabilities
Accounts payable and accrued expenses	$	19,686	$	11,591
Fiduciary accounts payable	6,506		10,534
Medical liabilities	53,563		44,000

Dividends payable	556		556
Current portion of long-term debt	3,162		780
Finance lease liabilities	509		110
Operating lease liabilities	1,846		1,250

Total current liabilities	85,828		68,821

Non-current liabilities
Long-term debt, net of current portion and deferred financing costs	22,642		7,114
Deferred tax liability	3,325		1,982
Finance lease liabilities, net of current portion	931		193
Operating lease liabilities, net of current portion	7,916		3,950
Other long-term liabilities	8,542		9,614

Total non-current liabilities	43,356		22,853

Total liabilities	$	129,184	$	91,674

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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