XML 33 R2.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 293,921 $ 288,027
Restricted cash 345 0
Investments in marketable securities 3,789 5,567
Other receivables 1,201 1,834
Prepaid expenses and other current assets 15,087 14,798
Total current assets 465,063 428,125
Non-current assets    
Land, property, and equipment, net 123,859 108,536
Intangible assets, net 74,421 76,861
Goodwill 274,029 269,053
Income taxes receivable, non-current 15,943 15,943
Investments in other entities – equity method 45,831 40,299
Investments in privately held entities 2,896 896
Operating lease right-of-use assets 17,905 20,444
Other assets 7,229 6,056
Total non-current assets 562,113 538,088
Total assets [1] 1,027,176 966,213
Current liabilities    
Accounts payable and accrued expenses 49,904 49,562
Fiduciary accounts payable 8,603 8,065
Medical liabilities 100,047 81,255
Income taxes payable 20,354 4,279
Dividend payable 638 664
Finance lease liabilities 591 594
Operating lease liabilities 3,027 3,572
Current portion of long-term debt 2,630 619
Total current liabilities 185,794 148,610
Non-current liabilities    
Deferred tax liability 12,335 14,217
Finance lease liabilities, net of current portion 1,078 1,275
Operating lease liabilities, net of current portion 17,852 19,915
Long-term debt, net of current portion and deferred financing costs 205,136 203,389
Other long-term liabilities 21,383 20,260
Total non-current liabilities 257,784 259,056
Total liabilities [1] 443,578 407,666
Commitments and contingencies (Note 12)
Mezzanine equity    
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation 13,845 14,237
Stockholders’ equity    
Common stock, $0.001 par value per share; 100,000,000 shares authorized, 46,553,517 and 46,575,699 shares issued and outstanding, excluding 10,569,340 and 10,299,259 treasury shares, as of June 30, 2023 and December 31, 2022, respectively 47 47
Additional paid-in capital 357,246 360,097
Retained earnings 208,719 182,417
Total stockholders’ equity 566,012 542,561
Non-controlling interest 3,741 1,749
Total equity 569,753 544,310
Total liabilities, mezzanine equity and equity 1,027,176 966,213
Series A Preferred Stock    
Stockholders’ equity    
Preferred stock 0 0
Series B Preferred Stock    
Stockholders’ equity    
Preferred stock 0 0
Nonrelated Party    
Current assets    
Receivables, net 66,927 49,631
Loans receivable 973 996
Related Party    
Current assets    
Receivables, net 82,820 65,147
Loans receivable $ 0 $ 2,125
[1] The Company’s consolidated balance sheets include the assets and liabilities of its consolidated VIEs. The consolidated balance sheets include total assets that can be used only to settle obligations of the Company’s consolidated VIEs totaling $520.8 million and $523.7 million as of June 30, 2023 and December 31, 2022, respectively, and total liabilities of the Company’s consolidated VIEs for which creditors do not have recourse to the general credit of the primary beneficiary of $136.2 million and $131.8 million as of June 30, 2023 and December 31, 2022, respectively. The VIE balances do not include $325.5 million of investment in affiliates and $5.4 million of amounts due to affiliates as of June 30, 2023 and $304.8 million of investment in affiliates and $30.3 million of amounts due from affiliates as of December 31, 2022 as these are eliminated upon consolidation and not presented within the consolidated balance sheets. See Note 16 — “Variable Interest Entities (VIEs)” for further detail.