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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 37,914 $ 28,567
Patient accounts receivable, less allowance for credit losses of $2,964 and $2,768, respectively 49,747 46,272
Accounts receivable - other 19,146 16,144
Other current assets 6,085 4,183
Total current assets 112,892 95,166
Fixed assets:    
Furniture and equipment 62,006 58,743
Leasehold improvements 41,961 39,194
Fixed assets, gross 103,967 97,937
Less accumulated depreciation and amortization 78,960 74,958
Fixed assets, net 25,007 22,979
Operating lease right-of-use assets 100,967 96,427
Investment in unconsolidated affiliate 11,978 12,215
Goodwill 449,548 434,679
Other identifiable intangible assets, net 93,697 86,382
Other assets 5,619 1,578
Total assets 799,708 749,426
Current liabilities:    
Accounts payable - trade 4,471 3,268
Accounts payable - due to seller of acquired business 3,203 3,203
Accrued expenses 33,784 45,705
Current portion of operating lease liabilities 32,540 30,475
Current portion of term loan and notes payable 7,490 830
Total current liabilities 81,488 83,481
Notes payable, net of current portion 2,912 3,587
Revolving line of credit 0 114,000
Term Loan, net of current portion and deferred financing costs 143,778 0
Deferred taxes 23,838 14,385
Operating lease liabilities, net of current portion 76,907 74,185
Other long-term liabilities 4,026 7,345
Total liabilities 332,949 296,983
Redeemable non-controlling interest - temporary equity 148,155 155,262
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, 15,216,326 and 15,126,160 shares issued, respectively 152 151
Additional paid-in capital 108,515 102,688
Accumulated other comprehensive gain 4,424 0
Retained earnings 235,683 224,395
Treasury stock at cost, 2,214,737 shares (31,628) (31,628)
Total USPH shareholders' equity 317,146 295,606
Non-controlling interest - permanent equity 1,458 1,575
Total USPH shareholders' equity and non-controlling interest - permanent equity 318,604 297,181
Total liabilities, redeemable non-controlling interest, USPH shareholders' equity and non-controlling interest - permanent equity $ 799,708 $ 749,426