Quarterly report pursuant to Section 13 or 15(d)

Variable Interest Entities - Balance Sheet (Details)

v3.23.1
Variable Interest Entities - Balance Sheet (Details) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Cash $ 7,183 $ 17,537
Clinic fees and insurance receivables, net 318 822
Prepaid expenses and other current assets 2,824 2,643
Other receivables 4,640 6,678
Property and equipment, net 8,947 8,839
Other long-term assets [1] 18,944 15,990
TOTAL ASSETS 867,422 876,571
LIABILITIES AND MEMBERS’ DEFICIT    
Accounts payable 15,798 11,542
Accrued expenses and other current liabilities 21,330 16,647
Accrued payroll 7,401 8,224
Claims payable 164,897 151,207
TOTAL LIABILITIES [1] 396,384 353,912
TOTAL LIABILITIES, MEZZANINE EQUITY & STOCKHOLDERS’ (DEFICIT) EQUITY 867,422 876,571
Variable Interest Entity, Primary Beneficiary    
ASSETS    
Cash 0 1,759
Clinic fees and insurance receivables, net 639 323
Prepaid expenses and other current assets 1,229 121
Other receivables 13 855
Property and equipment, net 43 44
Other long-term assets 114 0
Due from consolidated entities of P3 10,123 3,012
TOTAL ASSETS 12,161 6,114
LIABILITIES AND MEMBERS’ DEFICIT    
Accounts payable 5,725 7,800
Accrued expenses and other current liabilities 546 262
Accrued payroll 2,381 1,885
Claims payable 7,087 0
Other long-term liabilities 1,023 0
Due to consolidated entities of P3 41,540 36,025
TOTAL LIABILITIES 58,302 45,972
MEMBERS’ DEFICIT (46,141) (39,858)
TOTAL LIABILITIES, MEZZANINE EQUITY & STOCKHOLDERS’ (DEFICIT) EQUITY $ 12,161 $ 6,114
[1] The Company’s condensed consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 13 “Variable Interest Entities,” P3 LLC is itself a VIE. P3 LLC represents substantially all the assets and liabilities of the Company. As a result, the language and amounts below refer only to VIEs held at the P3 LLC level. The condensed consolidated balance sheets include total assets that can be used only to settle obligations of the P3 LLC’s VIEs totaling $2.0 million and $3.1 million as of March 31, 2023 and December 31, 2022, respectively, and total liabilities of the P3 LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $16.8 million and $9.9 million as of March 31, 2023 and December 31, 2022, respectively. These VIE assets and liabilities do not include $31.4 million and $33.0 million of net amounts due to affiliates as of March 31, 2023 and December 31, 2022, respectively, as these are eliminated in consolidation and not presented within the condensed consolidated balance sheets. See Note 13 “Variable Interest Entities.”