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Business Combinations and Discontinued Operations | 9 Months Ended
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Sep. 30, 2022
Business Combination And Discontinued Operations [Abstract] |
Business Combination and Discontinued Operations | 6. Business Combinations and Discontinued Operations: Business Combinations During the nine months ended September 30, 2022, the Company completed the acquisition of one multi-location pediatric urgent care practice and one pediatric gastroenterology and gynecology practice for total consideration of $31.3 million, of which $26.5 million was paid in cash at closing and $4.8 million is recorded as contingent consideration liabilities. These acquisitions expanded the Company’s national network of physician practices across women’s and children’s services and particularly its entry into the pediatric primary and urgent care service line. In connection with these acquisitions, the Company recorded tax deductible goodwill of $26.7 million, other intangible assets consisting primarily of physician and hospital agreements of $2.3 million, fixed assets of $2.2 million and other non-current assets of $0.1 million. Discontinued Operations The Company divested its anesthesiology services medical group in May 2020. During the nine months ended September 30, 2022, the Company recorded a net increase to the loss on sale of $0.9 million, primarily for certain transaction related true ups. During the nine months ended September 30, 2021, the Company recorded a net decrease to the loss on sale of $19.0 million. The decrease to the loss on sale during the nine months ended September 30, 2021 primarily related to an adjustment to the sales proceeds and book values of net assets sold resulting from a mutual agreement between the buyer and seller to treat a portion of the divestiture as an asset sale for tax purposes and the disposal of the single anesthesia practice that remained after the divestiture of the anesthesiology medical group in May 2020. The net changes to the loss on sale are reflected as a component of discontinued operations, net of income taxes, in the Company’s Consolidated Statements of Income for the three and nine months ended September 30, 2022 and 2021 as relevant. The Company’s continuing operations financial statements for the nine months ended September 30, 2021 reflect the Company’s best estimate of the income tax effects associated with the asset sale change. These estimates include an increase in income tax receivable of $24.0 million, of which $9.0 million is related to loss carryback provisions enacted under the CARES Act, an increase in deferred tax assets of $17.0 million and a reduction to capital loss carryforwards and offsetting valuation allowance of $37.0 million. The Company divested its radiology services medical group in December 2020. During the nine months ended September 30, 2022 and 2021, the Company recorded net increases of $1.0 million and $3.3 million to the loss on sale, respectively, primarily for certain transaction related true ups, with the loss for the nine months ended September 30, 2022 representing the Company's best estimate of the final working capital true up that is expected to be settled during 2022. The net changes to the loss on sale are reflected as a component of discontinued operations, net of income taxes, in the Company’s Consolidated Statements of Income for the three and nine months ended September 30, 2022 and 2021 as relevant.

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