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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 17,937 $ 32,918
Patient accounts receivable, less allowance for credit losses of $2,120 and $2,008, respectively 45,394 41,906
Accounts receivable - other 8,621 9,039
Other current assets 3,846 3,773
Total current assets 75,798 87,636
Fixed assets:    
Furniture and equipment 56,754 55,426
Leasehold improvements 35,492 35,320
Fixed assets, gross 92,246 90,746
Less accumulated depreciation and amortization 70,485 69,081
Fixed assets, net 21,761 21,665
Operating lease right-of-use assets 81,553 81,595
Goodwill 360,176 345,646
Other identifiable intangible assets, net 57,593 56,280
Other assets 1,509 1,539
Total assets 598,390 594,361
Current liabilities:    
Accounts payable - trade 1,955 1,335
Accounts payable - purchase of non-controlling interest 4,828 0
Accrued expenses 51,671 59,746
Current portion of operating lease liabilities 27,292 27,512
Current portion of notes payable 5,079 4,899
Total current liabilities 90,825 93,492
Notes payable, net of current portion 571 596
Revolving line of credit 16,000 16,000
Deferred taxes 8,212 7,779
Operating lease liabilities, net of current portion 62,068 61,985
Other long-term liabilities 4,549 4,539
Total liabilities 182,225 184,391
Redeemable non-controlling interests - temporary equity 138,924 132,340
Commitments and Contingencies
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, 15,111,309 and 15,066,282 shares issued, respectively 151 151
Additional paid-in capital 97,286 95,622
Retained earnings 210,375 212,015
Treasury stock at cost, 2,214,737 shares (31,628) (31,628)
Total USPH shareholders' equity 276,184 276,160
Non-controlling interests - permanent equity 1,057 1,470
Total USPH shareholders' equity and non-controlling interests - permanent equity 277,241 277,630
Total liabilities, redeemable non-controlling interests, USPH shareholders' equity and non-controlling interests - permanent equity $ 598,390 $ 594,361