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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 20,419 $ 32,918
Patient accounts receivable, less allowance for credit losses of $2,435 and $2,008, respectively 45,144 41,906
Accounts receivable - other 9,025 9,039
Other current assets 5,111 3,773
Total current assets 79,699 87,636
Fixed assets:    
Furniture and equipment 57,538 55,426
Leasehold improvements 35,986 35,320
Fixed assets, gross 93,524 90,746
Less accumulated depreciation and amortization 71,964 69,081
Fixed assets, net 21,560 21,665
Operating lease right-of-use assets 87,090 81,595
Goodwill 373,887 345,646
Other identifiable intangible assets, net 59,216 56,280
Other assets 1,506 1,539
Total assets 622,958 594,361
Current liabilities:    
Accounts payable - trade 1,782 1,335
Accrued expenses 44,720 59,746
Current portion of operating lease liabilities 27,860 27,512
Current portion of notes payable 1,017 4,899
Total current liabilities 75,379 93,492
Notes payable, net of current portion 821 596
Revolving line of credit 38,000 16,000
Deferred taxes 8,281 7,779
Operating lease liabilities, net of current portion 66,887 61,985
Other long-term liabilities 5,442 4,539
Total liabilities 194,810 184,391
Redeemable non-controlling interests - temporary equity 143,337 132,340
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, 15,121,669 and 15,066,282 shares issued, respectively 151 151
Additional paid-in capital 99,039 95,622
Retained earnings 216,286 212,015
Treasury stock at cost, 2,214,737 shares (31,628) (31,628)
Total USPH shareholders' equity 283,848 276,160
Non-controlling interests - permanent equity 963 1,470
Total USPH shareholders' equity and non-controlling interests - permanent equity 284,811 277,630
Total liabilities, redeemable non-controlling interests, USPH shareholders' equity and non-controlling interests - permanent equity $ 622,958 $ 594,361