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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 28,567 $ 32,918
Patient accounts receivable, less allowance for credit losses of $2,768 and $2,008, respectively 46,272 41,906
Accounts receivable - other 16,144 9,039
Other current assets 4,183 3,773
Total current assets 95,166 87,636
Fixed assets:    
Furniture and equipment 58,743 55,426
Leasehold improvements 39,194 35,320
Fixed assets, gross 97,937 90,746
Less accumulated depreciation and amortization 74,958 69,081
Fixed assets, net 22,979 21,665
Operating lease right-of-use assets 96,427 81,595
Investment in unconsolidated affiliate 12,215 0
Goodwill 434,679 345,646
Other identifiable intangible assets, net 86,382 56,280
Other assets 1,578 1,539
Total assets 749,426 594,361
Current liabilities:    
Accounts payable - trade 3,268 1,335
Accounts payable - due to seller of acquired business 3,203 0
Accrued expenses 45,705 59,746
Current portion of operating lease liabilities 30,475 27,512
Current portion of notes payable 830 4,899
Total current liabilities 83,481 93,492
Notes payable, net of current portion 3,587 596
Revolving line of credit 114,000 16,000
Deferred taxes 14,385 7,779
Operating lease liabilities, net of current portion 74,185 61,985
Other long-term liabilities 7,345 4,539
Total liabilities 296,983 184,391
Redeemable non-controlling interest - temporary equity 155,262 132,340
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, 15,126,160 and 15,066,282 shares issued, respectively 151 151
Additional paid-in capital 102,688 95,622
Retained earnings 224,395 212,015
Treasury stock at cost, 2,214,737 shares (31,628) (31,628)
Total USPH shareholders' equity 295,606 276,160
Non-controlling interest - permanent equity 1,575 1,470
Total USPH shareholders' equity and non-controlling interest - permanent equity 297,181 277,630
Total liabilities, redeemable non-controlling interest, USPH shareholders' equity and non-controlling interest - permanent equity $ 749,426 $ 594,361