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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 32,918 $ 23,548
Patient accounts receivable, less allowance for credit losses of $2,008 and $2,698, respectively 41,906 46,228
Accounts receivable - other 9,039 9,823
Other current assets 3,773 5,787
Total current assets 87,636 85,386
Fixed assets:    
Furniture and equipment 55,426 54,942
Leasehold improvements 35,320 33,247
Fixed assets, gross 90,746 88,189
Less accumulated depreciation and amortization 69,081 66,099
Fixed assets, net 21,665 22,090
Operating lease right-of-use assets 81,595 81,586
Goodwill 345,646 317,676
Other identifiable intangible assets, net 56,280 52,588
Other assets 1,539 1,519
Total assets 594,361 560,845
Current liabilities:    
Accounts payable - trade 1,335 2,494
Accrued expenses 59,746 30,855
Current portion of operating lease liabilities 27,512 26,486
Current portion of notes payable 4,899 728
Total current liabilities 93,492 60,563
Notes payable, net of current portion 596 4,361
Revolving line of credit 16,000 46,000
Deferred taxes 7,779 10,071
Operating lease liabilities, net of current portion 61,985 60,258
Other long-term liabilities 4,539 141
Total liabilities 184,391 181,394
Redeemable non-controlling interests - temporary equity 132,340 137,750
Commitments and Contingencies (Note 17)
U.S. Physical Therapy, Inc. ("USPH") shareholders' equity:    
Preferred stock, $.01 par value, 500,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $.01 par value, 20,000,000 shares authorized, 15,066,282 and 14,989,337 shares issued, respectively 151 150
Additional paid-in capital 95,622 87,383
Retained earnings 212,015 184,352
Treasury stock at cost, 2,214,737 shares (31,628) (31,628)
Total USPH shareholders' equity 276,160 240,257
Non-controlling interests - permanent equity 1,470 1,444
Total USPH shareholders' equity and non-controlling interests 277,630 241,701
Total liabilities, redeemable non-controlling interests, USPH shareholders' equity and non-controlling interests $ 594,361 $ 560,845