Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 204,768 $ 193,470
Investments in marketable securities 128,558 67,695
Receivables, net 18,753 7,058
Receivables, net – related parties 53,626 49,260
Other receivables 5,773 4,297
Prepaid expenses and other current assets 11,734 16,797
Loan receivable – related party 4,000 0
Total current assets 427,212 338,577
Noncurrent assets    
Land, property, and equipment, net 49,280 29,890
Intangible assets, net 83,594 86,985
Goodwill 243,353 239,053
Loans receivable 584 480
Loans receivable – related party 0 4,145
Investments in other entities – equity method 45,046 43,292
Investments in privately held entities 896 37,075
Restricted cash 0 500
Operating lease right-of-use assets 16,134 18,574
Other assets 5,195 18,915
Total noncurrent assets 444,082 478,909
Total assets [1] 871,294 817,486
Current liabilities    
Accounts payable and accrued expenses 57,505 36,143
Fiduciary accounts payable 8,827 9,642
Medical liabilities 42,872 50,330
Income taxes payable 4,024 4,224
Dividend payable 556 485
Finance lease liabilities 110 102
Operating lease liabilities 2,658 3,177
Current portion of long-term debt 207 10,889
Total current liabilities 116,759 114,992
Noncurrent liabilities    
Deferred tax liability 19,592 10,959
Finance lease liabilities, net of current portion 221 311
Operating lease liabilities, net of current portion 13,856 15,865
Long-term debt, net of current portion and deferred financing costs 182,813 230,211
Other long-term liabilities 6,232 0
Total noncurrent liabilities 222,714 257,346
Total liabilities [1] 339,473 372,338
Commitments and contingencies (Note 12)
Mezzanine equity    
Noncontrolling interest in Allied Physicians of California, a Professional Medical Corporation 91,500 114,237
Stockholders’ equity    
Common stock, $0.001 par value per share; 100,000,000 shares authorized, 44,397,050 and 42,249,137 shares issued and outstanding, excluding 10,925,702 and 12,323,164 treasury shares, as of September 30, 2021 and December 31, 2020, respectively 44 42
Additional paid-in capital 305,994 261,011
Retained earnings 129,859 69,771
Total stockholders' equity, parent 435,897 330,824
Noncontrolling interest 4,424 87
Total stockholders’ equity 440,321 330,911
Total liabilities, mezzanine equity, and stockholders’ equity 871,294 817,486
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 $601.8 million and $576.1 million as of September 30, 2021 and December 31, 2020, 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 $92.8 million and $88.6 million as of September 30, 2021 and December 31, 2020, respectively. The VIE balances do not include $994.8 million of investment in affiliates and $15.8 million of amounts due from affiliates as of September 30, 2021 and $225.1 million of investment in affiliates and $22.7 million of amounts due to affiliates as of December 31, 2020 as these are eliminated upon consolidation and not presented within the consolidated balance sheets. See Note 16 – Variable Interest Entities (VIEs) for further detail.