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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 48,572 $ 28,567
Patient accounts receivable, less allowance for credit losses of $2,948 and $2,768, respectively 50,549 46,272
Accounts receivable - other 18,915 16,144
Other current assets 3,810 4,183
Total current assets 121,846 95,166
Fixed assets:    
Furniture and equipment 60,379 58,743
Leasehold improvements 41,038 39,194
Fixed assets, gross 101,417 97,937
Less accumulated depreciation and amortization 77,188 74,958
Fixed assets, net 24,229 22,979
Operating lease right-of-use assets 101,274 96,427
Investment in unconsolidated affiliate 12,346 12,215
Goodwill 442,761 434,679
Other identifiable intangible assets, net 92,655 86,382
Other assets 1,333 1,578
Total assets 796,444 749,426
Current liabilities:    
Accounts payable - trade 3,793 3,268
Accounts payable - due to seller of acquired business 3,203 3,203
Accrued expenses 41,246 45,705
Current portion of operating lease liabilities 32,083 30,475
Current portion of term loan and notes payable 4,780 830
Total current liabilities 85,105 83,481
Notes payable, net of current portion 4,258 3,587
Revolving line of credit 0 114,000
Term Loan, net of current portion and deferred financing costs 144,631 0
Deferred taxes 19,483 14,385
Operating lease liabilities, net of current portion 77,776 74,185
Other long-term liabilities 4,858 7,345
Total liabilities 336,111 296,983
Redeemable non-controlling interest - temporary equity 151,400 155,262
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, 15,218,982 and 15,126,160 shares issued, respectively 152 151
Additional paid-in capital 106,801 102,688
Accumulated other comprehensive loss (395) 0
Retained earnings 232,247 224,395
Treasury stock at cost, 2,214,737 shares (31,628) (31,628)
Total USPH shareholders' equity 307,177 295,606
Non-controlling interest - permanent equity 1,756 1,575
Total USPH shareholders' equity and non-controlling interest - permanent equity 308,933 297,181
Total liabilities, redeemable non-controlling interest, USPH shareholders' equity and non-controlling interest - permanent equity $ 796,444 $ 749,426