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Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments [Abstract]

Impacts of Derivative Instruments on Consolidated Statements of Comprehensive Income

The impacts of the Company’s derivative instruments on the accompanying Consolidated Statements of Comprehensive Income for the year ended December 31, 2022, and 2021 are presented in the table below (in thousands):

		For the Year Ended
		December 31, 2022				December 31, 2021
Net income		$	43,407			$	57,924
Other comprehensive loss
Unrealized gain on cash flow hedge			5,378				-
Tax effect at statutory rate (federal and state) of 25.55%			(1,374	)			-
Comprehensive income		$	47,411			$	57,924
Comprehensive income attributable to non-controlling interest			(11,249	)			(17,093	)
Comprehensive income attributable to USPH shareholders		$	36,162			$	40,831

Carrying and Fair Value of Interest Rate Derivatives

The carrying and fair value of the Company’s interest rate derivatives (included in Other current assets and Other assets) were as follows:

		December 31, 2022				December 31, 2021
Interest rate swap:
Other current assets		$	2,858			$	-
Other assets		$	2,520			$	-

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- References

No definition available.

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- Definition

Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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- Definition

Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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