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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 132,290 $ 152,825
Patient accounts receivable, less provision for credit losses of $2,936 and $2,736, respectively 55,363 51,866
Accounts receivable - other 21,774 17,854
Other current assets 11,715 10,830
Total current assets 221,142 233,375
Fixed assets:    
Furniture and equipment 65,550 63,982
Leasehold improvements 47,458 46,941
Fixed assets, gross 113,008 110,923
Less accumulated depreciation and amortization (86,757) (84,821)
Fixed assets, net 26,251 26,102
Operating lease right-of-use assets 102,113 103,431
Investment in unconsolidated affiliate 12,160 12,256
Goodwill 534,271 509,571
Other identifiable intangible assets, net 116,888 109,682
Other assets 4,431 2,821
Total assets 1,017,256 997,238
Current liabilities:    
Accounts payable - trade 4,866 3,898
Accrued expenses 53,749 55,344
Current portion of operating lease liabilities 34,699 35,252
Current portion of term loan and notes payable 9,222 7,691
Total current liabilities 102,536 102,185
Notes payable, net of current portion 804 1,289
Term loan, net of current portion and deferred financing costs 135,945 137,702
Deferred taxes 27,337 24,815
Operating lease liabilities, net of current portion 75,680 76,653
Other long-term liabilities 2,988 2,356
Total liabilities 345,290 345,000
Redeemable non-controlling interest - temporary equity 190,733 174,828
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, 17,282,822 and 17,202,291 shares issued, respectively 172 172
Additional paid-in capital 283,546 281,096
Accumulated other comprehensive gain 4,108 2,782
Retained earnings 223,573 223,772
Treasury stock at cost, 2,214,737 shares (31,628) (31,628)
Total USPH shareholders' equity 479,771 476,194
Non-controlling interest - permanent equity 1,462 1,216
Total USPH shareholders' equity and non-controlling interest - permanent equity 481,233 477,410
Total liabilities, redeemable non-controlling interest, USPH shareholders' equity and non-controlling interest - permanent equity $ 1,017,256 $ 997,238