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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 19,188 $ 32,918
Patient accounts receivable, less allowance for credit losses of $2,728 and $2,008, respectively 46,456 41,906
Accounts receivable - other 10,093 9,039
Other current assets 3,687 3,773
Total current assets 79,424 87,636
Fixed assets:    
Furniture and equipment 58,179 55,426
Leasehold improvements 37,413 35,320
Fixed assets, gross 95,592 90,746
Less accumulated depreciation and amortization 73,556 69,081
Fixed assets, net 22,036 21,665
Operating lease right-of-use assets 92,952 81,595
Goodwill 374,047 345,646
Other identifiable intangible assets, net 60,086 56,280
Other assets 1,553 1,539
Total assets 630,098 594,361
Current liabilities:    
Accounts payable - trade 1,532 1,335
Accrued expenses 50,267 59,746
Current portion of operating lease liabilities 29,197 27,512
Current portion of notes payable 672 4,899
Total current liabilities 81,668 93,492
Notes payable, net of current portion 2,265 596
Revolving line of credit 33,000 16,000
Deferred taxes 6,682 7,779
Operating lease liabilities, net of current portion 71,209 61,985
Other long-term liabilities 6,440 4,539
Total liabilities 201,264 184,391
Redeemable non-controlling interest - temporary equity 138,217 132,340
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, 15,126,345 and 15,066,282 shares issued, respectively 151 151
Additional paid-in capital 101,922 95,622
Retained earnings 219,338 212,015
Treasury stock at cost, 2,214,737 shares (31,628) (31,628)
Total USPH shareholders' equity 289,783 276,160
Non-controlling interest - permanent equity 834 1,470
Total USPH shareholders' equity and non-controlling interest - permanent equity 290,617 277,630
Total liabilities, redeemable non-controlling interest, USPH shareholders' equity and non-controlling interest - permanent equity $ 630,098 $ 594,361