v3.24.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 293,807 $ 288,027
Investment in marketable securities 2,498 5,567
Income taxes receivable 10,657 0
Other receivables 1,335 1,834
Prepaid expenses and other current assets 17,450 14,798
Total current assets 461,507 428,125
Non-current assets    
Land, property and equipment, net 7,171 108,536
Intangible assets, net 71,648 76,861
Goodwill 278,831 269,053
Income taxes receivable 15,943 15,943
Loans receivable, non-current 26,473 0
Investments in other entities – equity method 25,774 40,299
Investments in privately held entities 6,396 2,396
Restricted cash 345 0
Operating lease right-of-use assets 37,396 20,444
Other assets 1,877 4,556
Total non-current assets 471,854 538,088
Total assets [1] 933,361 966,213
Current liabilities    
Accounts payable and accrued expenses 59,949 49,562
Fiduciary accounts payable 7,737 8,065
Medical liabilities 106,657 81,255
Income taxes payable 0 4,279
Dividend payable 638 664
Finance lease liabilities 646 594
Operating lease liabilities 4,607 3,572
Current portion of long-term debt 19,500 619
Other liabilities 18,940 0
Total current liabilities 218,674 148,610
Non-current liabilities    
Deferred tax liability 4,072 14,217
Finance lease liabilities, net of current portion 1,033 1,275
Operating lease liabilities, net of current portion 36,289 19,915
Long-term debt, net of current portion and deferred financing costs 258,939 203,389
Other long-term liabilities 3,586 20,260
Total non-current liabilities 303,919 259,056
Total liabilities [1] 522,593 407,666
Commitments and contingencies (Note 14)
Mezzanine (deficit) equity    
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation (“APC”) (205,883) 14,237
Stockholders’ equity    
Common stock, par value $0.001; 100,000,000 shares authorized, 46,843,743 and 46,575,699 shares outstanding, excluding 10,584,340 and 10,299,259 treasury shares, at December 31, 2023 and 2022, respectively 47 47
Additional paid-in capital 371,037 360,097
Retained earnings 243,134 182,417
Stockholders' equity attributable to parent 614,218 542,561
Non-controlling interest 2,433 1,749
Total stockholders’ equity 616,651 544,310
Total liabilities, mezzanine equity (deficit), and stockholders’ equity 933,361 966,213
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 76,780 49,631
Loans receivable, net 0 996
Related Party    
Current assets    
Receivables, net 58,980 65,147
Loans receivable, net $ 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 $540.8 million and $579.8 million as of December 31, 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 $146.0 million and $149.6 million as of December 31, 2023 and December 31, 2022, respectively. These VIE balances do not include $273.2 million of investment in affiliates and $107.3 million of amounts due to affiliates as of December 31, 2023 and $304.8 million of investment in affiliates and $11.6 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 18 – “Variable Interest Entities (VIEs)” for further detail.

Source

10-K PDF
XBRL