v3.22.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 237,942 $ 233,097
Investments in marketable securities 42,893 53,417
Receivables, net 55,280 10,608
Receivables, net – related parties 76,410 69,376
Other receivables 13,260 9,647
Prepaid expenses and other current assets 14,631 18,637
Loan receivable – related party 4,000 4,000
Total current assets 444,416 398,782
Non-current assets    
Land, property, and equipment, net 70,366 53,186
Intangible assets, net 80,148 82,807
Goodwill 252,379 253,039
Loans receivable 549 569
Investments in other entities – equity method 44,383 41,715
Investments in privately held entities 896 896
Operating lease right-of-use assets 14,770 15,441
Other assets 4,424 5,928
Total non-current assets 467,915 453,581
Total assets [1] 912,331 852,363
Current liabilities    
Accounts payable and accrued expenses 48,252 43,951
Fiduciary accounts payable 6,305 10,534
Medical liabilities 95,758 55,783
Income taxes payable 4,894 652
Dividend payable 556 556
Finance lease liabilities 543 486
Operating lease liabilities 2,625 2,629
Current portion of long-term debt 1,503 780
Total current liabilities 160,436 115,371
Non-current liabilities    
Deferred tax liability 9,686 9,127
Finance lease liabilities, net of current portion 1,172 973
Operating lease liabilities, net of current portion 12,558 13,198
Long-term debt, net of current portion and deferred financing costs 183,101 182,917
Other long-term liabilities 13,706 14,777
Total non-current liabilities 220,223 220,992
Total liabilities [1] 380,659 336,363
Commitments and contingencies (Note 12)
Mezzanine equity    
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation 52,151 55,510
Stockholders’ equity    
Common stock, $0.001 par value per share; 100,000,000 shares authorized, 44,845,059 and 44,630,873 shares issued and outstanding, excluding 10,925,702 and 10,925,702 treasury shares, as of March 31, 2022 and December 31, 2021, respectively 45 45
Additional paid-in capital 316,047 310,876
Retained earnings 157,893 143,629
Total stockholders' equity, parent 473,985 454,550
Non-controlling interest 5,536 5,940
Total stockholders’ equity 479,521 460,490
Total liabilities, mezzanine equity, and stockholders’ equity 912,331 852,363
Series A Preferred Stock    
Stockholders’ equity    
Preferred stock 0 0
Series B Preferred Stock    
Stockholders’ equity    
Preferred stock $ 0 $ 0
[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 $585.9 million and $567.0 million as of March 31, 2022 and December 31, 2021, 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 $111.0 million and $91.7 million as of March 31, 2022 and December 31, 2021, respectively. The VIE balances do not include $529.6 million of investment in affiliates and $25.2 million of amounts due from affiliates as of March 31, 2022 and $802.8 million of investment in affiliates and $6.6 million of amounts due to affiliates as of December 31, 2021 as these are eliminated upon consolidation and not presented within the consolidated balance sheets. See Note 16 – Variable Interest Entities (VIEs) for further detail.

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