XML 19 R2.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 41,362 $ 152,825
Patient accounts receivable, less provision for credit losses of $3,506 and $2,736, respectively 59,040 51,866
Accounts receivable - other 26,626 17,854
Other current assets 10,555 10,830
Total current assets 137,583 233,375
Fixed assets:    
Furniture and equipment 68,128 63,982
Leasehold improvements 51,105 46,941
Fixed assets, gross 119,233 110,923
Less accumulated depreciation and amortization (87,093) (84,821)
Fixed assets, net 32,140 26,102
Operating lease right-of-use assets 133,936 103,431
Investment in unconsolidated affiliate 12,190 12,256
Goodwill 667,152 509,571
Other identifiable intangible assets, net 179,311 109,682
Other assets 5,155 2,821
Total assets 1,167,467 997,238
Current liabilities:    
Accounts payable - trade 5,936 3,898
Accrued expenses 59,513 55,344
Current portion of operating lease liabilities 39,835 35,252
Current portion of term loan and notes payable 10,999 7,691
Total current liabilities 116,283 102,185
Notes payable, net of current portion 903 1,289
Revolving facility 11,000 0
Term loan, net of current portion and deferred financing costs 130,627 137,702
Deferred taxes 29,465 24,815
Operating lease liabilities, net of current portion 101,868 76,653
Other long-term liabilities 18,275 2,356
Total liabilities 408,421 345,000
Redeemable non-controlling interest - temporary equity 269,025 174,828
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, 17,309,120 and 17,202,291 shares issued, respectively 172 172
Additional paid-in capital 290,321 281,096
Accumulated other comprehensive gain 2,799 2,782
Retained earnings 227,265 223,772
Treasury stock at cost, 2,214,737 shares (31,628) (31,628)
Total USPH shareholders' equity 488,929 476,194
Non-controlling interest - permanent equity 1,092 1,216
Total USPH shareholders' equity and non-controlling interest - permanent equity 490,021 477,410
Total liabilities, redeemable non-controlling interest, USPH shareholders' equity and non-controlling interest - permanent equity $ 1,167,467 $ 997,238