v3.22.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 234,223 $ 233,097
Investments in marketable securities 39,490 53,417
Receivables, net 67,263 10,608
Receivables, net – related parties 81,526 69,376
Income taxes receivable 12,639 0
Other receivables 13,227 9,647
Prepaid expenses and other current assets 12,670 18,637
Loan receivable – related party 0 4,000
Total current assets 461,038 398,782
Non-current assets    
Land, property, and equipment, net 87,146 53,186
Intangible assets, net 76,651 82,807
Goodwill 253,310 253,039
Loans receivable 539 569
Loans receivable – related parties 2,125 0
Investments in other entities – equity method 43,820 41,715
Investments in privately held entities 896 896
Operating lease right-of-use assets 19,638 15,441
Other assets 5,901 5,928
Total non-current assets 490,026 453,581
Total assets [1] 951,064 852,363
Current liabilities    
Accounts payable and accrued expenses 59,922 43,951
Fiduciary accounts payable 6,071 10,534
Medical liabilities 112,499 55,783
Income taxes payable 0 652
Dividend payable 556 556
Finance lease liabilities 524 486
Operating lease liabilities 3,253 2,629
Current portion of long-term debt 2,413 780
Total current liabilities 185,238 115,371
Non-current liabilities    
Deferred tax liability 9,257 9,127
Finance lease liabilities, net of current portion 1,049 973
Operating lease liabilities, net of current portion 16,904 13,198
Long-term debt, net of current portion and deferred financing costs 199,068 182,917
Other long-term liabilities 13,706 14,777
Total non-current liabilities 239,984 220,992
Total liabilities [1] 425,222 336,363
Commitments and contingencies (Note 12)
Mezzanine equity    
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation 39,997 55,510
Stockholders’ equity    
Common stock, $0.001 par value per share; 100,000,000 shares authorized, 44,719,710 and 44,630,873 shares issued and outstanding, excluding 11,175,702 and 10,925,702 treasury shares, as of June 30, 2022 and December 31, 2021, respectively 45 45
Additional paid-in capital 310,629 310,876
Retained earnings 169,292 143,629
Total stockholders' equity, parent 479,966 454,550
Non-controlling interest 5,879 5,940
Total stockholders’ equity 485,845 460,490
Total liabilities, mezzanine equity, and stockholders’ equity 951,064 852,363
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 $599.7 million and $567.0 million as of June 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 $143.7 million and $91.7 million as of June 30, 2022 and December 31, 2021, respectively. The VIE balances do not include $431.3 million of investment in affiliates and $36.0 million of amounts due from affiliates as of June 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.

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