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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 31,594 $ 28,567
Patient accounts receivable, less allowance for credit losses of $2,829 and $2,768, respectively 51,934 46,272
Accounts receivable - other 16,671 16,144
Other current assets 11,067 4,183
Total current assets 111,266 95,166
Fixed assets:    
Furniture and equipment 62,074 58,743
Leasehold improvements 42,877 39,194
Fixed assets, gross 104,951 97,937
Less accumulated depreciation and amortization 80,203 74,958
Fixed assets, net 24,748 22,979
Operating lease right-of-use assets 103,004 96,427
Investment in unconsolidated affiliate 12,131 12,215
Goodwill 494,101 434,679
Other identifiable intangible assets, net 108,755 86,382
Other assets 4,149 1,578
Total assets 858,154 749,426
Current liabilities:    
Accounts payable - trade 3,300 3,268
Accounts payable - due to seller of acquired business 3,204 3,203
Accrued expenses 37,413 45,705
Current portion of operating lease liabilities 33,709 30,475
Current portion of term loan and notes payable 7,863 830
Total current liabilities 85,489 83,481
Notes payable, net of current portion 1,913 3,587
Revolving line of credit 31,000 114,000
Term Loan, net of current portion and deferred financing costs 142,918 0
Deferred taxes 21,303 14,385
Operating lease liabilities, net of current portion 77,934 74,185
Other long-term liabilities 13,029 7,345
Total liabilities 373,586 296,983
Redeemable non-controlling interest - temporary equity 167,515 155,262
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 110,317 102,688
Accumulated other comprehensive gain 4,004 0
Retained earnings 232,948 224,395
Treasury stock at cost, 2,214,737 shares (31,628) (31,628)
Total USPH shareholders' equity 315,793 295,606
Non-controlling interest - permanent equity 1,260 1,575
Total USPH shareholders' equity and non-controlling interest - permanent equity 317,053 297,181
Total liabilities, redeemable non-controlling interest, USPH shareholders' equity and non-controlling interest - permanent equity $ 858,154 $ 749,426