v3.22.2.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 184,016 $ 233,097
Investments in marketable securities 33,281 53,417
Receivables, net 69,386 10,608
Receivables, net – related parties 91,208 69,376
Income taxes receivable 12,224 0
Other receivables 41,799 9,647
Prepaid expenses and other current assets 11,702 18,637
Loan receivable – related party 0 4,000
Total current assets 443,616 398,782
Non-current assets    
Land, property, and equipment, net 104,149 53,186
Intangible assets, net 73,231 82,807
Goodwill 257,482 253,039
Loans receivable 518 569
Loans receivable – related parties 2,125 0
Investments in other entities – equity method 38,954 41,715
Investments in privately held entities 896 896
Operating lease right-of-use assets 16,338 15,441
Other assets 6,097 5,928
Total non-current assets 499,790 453,581
Total assets [1] 943,406 852,363
Current liabilities    
Accounts payable and accrued expenses 47,366 43,951
Fiduciary accounts payable 6,506 10,534
Medical liabilities 94,884 55,783
Income taxes payable 0 652
Dividend payable 556 556
Finance lease liabilities 509 486
Operating lease liabilities 3,208 2,629
Current portion of long-term debt 3,162 780
Total current liabilities 156,191 115,371
Non-current liabilities    
Deferred tax liability 4,701 9,127
Finance lease liabilities, net of current portion 931 973
Operating lease liabilities, net of current portion 16,143 13,198
Long-term debt, net of current portion and deferred financing costs 199,150 182,917
Other long-term liabilities 12,964 14,777
Total non-current liabilities 233,889 220,992
Total liabilities [1] 390,080 336,363
Commitments and contingencies (Note 12)
Mezzanine equity    
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation 39,820 55,510
Stockholders’ equity    
Common stock, $0.001 par value per share; 100,000,000 shares authorized, 44,884,522 and 44,630,873 shares issued and outstanding, excluding 11,175,702 and 10,925,702 treasury shares, as of September 30, 2022 and December 31, 2021, respectively 45 45
Additional paid-in capital 315,115 310,876
Retained earnings 195,278 143,629
Total stockholders' equity, parent 510,438 454,550
Non-controlling interest 3,068 5,940
Total stockholders’ equity 513,506 460,490
Total liabilities, mezzanine equity, and stockholders’ equity 943,406 852,363
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 $590.7 million and $567.0 million as of September 30, 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 $129.2 million and $91.7 million as of September 30, 2022 and December 31, 2021, respectively. The VIE balances do not include $435.9 million of investment in affiliates and $37.8 million of amounts due from affiliates as of September 30, 2022 and $802.8 million of investment in affiliates and $6.6 million of amounts due from 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.

Source