Post-effective amendment to a registration statement that is not immediately effective upon filing

Variable Interest Entities - Assets and liabilities (Details)

v3.23.1
Variable Interest Entities - Assets and liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 03, 2021
Dec. 02, 2021
Dec. 31, 2020
ASSETS            
Cash $ 7,183 $ 17,537 $ 140,478   $ 5,301  
Clinic fees and insurance receivable, net of contractual allowances of $5,683 and $5,755, respectively 318 822 1,090      
Prepaid expenses and other current assets 2,824 2,643 6,959      
Property and equipment, net 8,947 8,839 8,048      
Goodwill     1,309,750 $ 1,278,453    
TOTAL ASSETS 867,422 876,571 [1] 2,364,109 [1]      
LIABILITIES AND MEMBERS' DEFICIT            
Accounts payable 15,798 11,542 5,469      
Accrued expenses and other current liabilities   16,647 12,261      
Accrued payroll   8,224 6,304      
TOTAL LIABILITIES 396,384 [2] 353,912 [1],[2] 299,940 [1]      
MEMBERS' DEFICIT   5,854 273,552   $ (272,917) $ (130,218)
TOTAL LIABILITIES AND MEMBERS' DEFICIT 867,422 $ 876,571 2,364,109      
Prime rate            
Variable Interest Entity            
Advances interest rate spread (as a percent)   2.00%        
VIE            
ASSETS            
Cash   $ 1,759 7,570      
Clinic fees and insurance receivable, net of contractual allowances of $5,683 and $5,755, respectively 639 323 61      
Prepaid expenses and other current assets 1,229 121 407      
Other Receivable   855        
Property and equipment, net 43 44 36      
Goodwill   0 0      
Due from consolidated entities of P3   3,012        
Investment in Other P3 Entities 10,123 3,012 6,000      
TOTAL ASSETS 12,161 6,114 14,074      
LIABILITIES AND MEMBERS' DEFICIT            
Accounts payable 5,725 7,800 4,779      
Accrued expenses and other current liabilities   262 26      
Accrued payroll   1,885 1,303      
Due to Consolidated Entities of P3 41,540 36,025 24,111      
TOTAL LIABILITIES 58,302 45,972 30,219      
MEMBERS' DEFICIT (46,141) (39,858) (16,145)      
TOTAL LIABILITIES AND MEMBERS' DEFICIT $ 12,161 $ 6,114 $ 14,074      
[1] The Company’s consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 23: 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 numbers below refer only to VIEs held at the P3 LLC level. The consolidated balance sheets include total assets that can be used only to settle obligations of P3 LLC’s consolidated VIEs totaling $3.1 million and $8.1 million as of December 31, 2022 and 2021, respectively, and total liabilities of P3 LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $9.9 million and $6.1 million as of December 31, 2022 and 2021, respectively. These VIE assets and liabilities do not include $33.0 million of net amounts due to affiliates as of December 31, 2022 and $6.0 million of investment in affiliates and $24.1 million of amounts due to affiliates as of December 31, 2021 as these are eliminated in consolidation and not presented within the consolidated balance sheets.
[2] 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.”