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Variable Interest Entities (VIEs) (Tables)
3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Assets and Liabilities, Variable Interest Entities

The following table includes assets that can only be used to settle the liabilities of the Company’s VIEs, and to which the creditors of Astrana have no recourse, and liabilities to which the creditors of the Company’s VIEs have no recourse to the general credit of Astrana, as the primary beneficiary of the VIEs. These assets and liabilities, with the exception of investments in affiliates and amounts due to, or from, affiliates, which are eliminated upon consolidation, are included in the accompanying condensed consolidated balance sheets (in thousands).

 

 

March 31, 2025

 

 

December 31, 2024

 

Assets

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

150,013

 

 

$

158,922

 

Investment in marketable securities

 

 

2,283

 

 

 

2,259

 

Receivables, net

 

 

71,820

 

 

 

83,977

 

Receivables, net – related party

 

 

54,873

 

 

 

48,251

 

Other receivables

 

 

22

 

 

 

15,303

 

Prepaid expenses and other current assets

 

 

6,917

 

 

 

10,161

 

Total current assets

 

 

285,928

 

 

 

318,873

 

 

 

 

 

 

 

 

Non-current assets

 

 

 

 

 

 

Property and equipment, net

 

 

6,528

 

 

 

5,875

 

Intangible assets, net

 

 

83,582

 

 

 

87,840

 

Goodwill

 

 

241,531

 

 

 

243,283

 

Income taxes receivable, non-current

 

 

15,943

 

 

 

15,943

 

Investments in other entities – equity method

 

 

15,063

 

 

 

15,442

 

Investment in a privately held entity

 

 

405

 

 

 

405

 

Investment in affiliates*

 

 

190,178

 

 

 

224,894

 

Restricted cash

 

 

40

 

 

 

40

 

Operating lease right-of-use assets

 

 

26,033

 

 

 

21,585

 

Other assets

 

 

3,055

 

 

 

3,019

 

 

 

 

 

 

 

 

Total non-current assets

 

 

582,358

 

 

 

618,326

 

 

 

 

 

 

 

 

Total assets

 

$

868,286

 

 

$

937,199

 

 

 

 

 

 

 

 

 

March 31, 2025

 

 

December 31, 2024

 

Current liabilities

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$

37,804

 

 

$

43,800

 

Fiduciary accounts payable

 

 

4,840

 

 

 

8,223

 

Medical liabilities

 

 

100,547

 

 

 

105,486

 

Dividend payable

 

 

638

 

 

 

638

 

Income tax payable

 

 

14,140

 

 

 

11,041

 

Finance lease liabilities

 

 

451

 

 

 

520

 

Operating lease liabilities

 

 

4,076

 

 

 

3,487

 

Other liabilities

 

 

6,348

 

 

 

1,351

 

Amount due to affiliates*

 

 

4,548

 

 

 

48,142

 

 

 

 

 

 

 

 

Total current liabilities

 

 

173,392

 

 

 

222,688

 

 

 

 

 

 

 

 

Non-current liabilities

 

 

 

 

 

 

Deferred tax liability

 

 

10,905

 

 

 

11,237

 

Finance lease liabilities, net of current portion

 

 

451

 

 

 

520

 

Operating lease liabilities, net of current portion

 

 

25,006

 

 

 

21,012

 

Other long-term liabilities

 

 

6,890

 

 

 

619

 

 

 

 

 

 

 

 

Total non-current liabilities

 

 

43,252

 

 

 

33,388

 

 

 

 

 

 

 

 

Total liabilities

 

$

216,644

 

 

$

256,076

 

 

*Investment in affiliates includes the Company’s VIEs’ investment in Astrana, which is reflected as treasury shares and eliminated upon consolidation. Amounts due to, or from, affiliates are receivables with Astrana’s subsidiaries. As a result, these balances are eliminated upon consolidation and are not reflected on Astrana’s condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024, respectively.