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

Intangible Assets

v3.22.2.2
Intangible Assets
6 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2021
P3 Health Partners Inc.    
Finite-Lived Intangible Assets [Line Items]    
Intangible Assets

Note 12: Intangible Assets

The follow tables provide changes in other intangible assets for the six months ended June 30, 2022.

    

Customer

    

    

Provider

Medical

    

Relationships

    

Trademarks

    

Payor Contracts

    

Network

    

Licenses

    

Total

Balance at December 31, 2021

$

678,300,000

$

147,369,167

$

4,700,271

$

4,769,167

$

700,000

$

835,838,605

Amortization

 

(34,200,000)

 

(7,610,000)

 

(235,014)

 

(240,000)

 

 

(42,285,014)

Balance at June 30, 2022

$

644,100,000

139,759,167

4,465,257

 

4,529,167

 

700,000

 

793,553,591

Amortization of intangible assets is anticipated to be approximately $84 million in each of the years 2022 through 2026. The weighted average remaining useful life of definite lived intangible assets is 9.4 years.

Note 12: Intangible Assets

The follow tables provide changes in intangible assets for the periods indicated.

Predecessor

Customer

    

Relationships

    

Total

Balance at December 31, 2020

 

$

 

$

Acquisitions

 

2,045,604

 

2,045,604

Amortization

 

(34,396)

 

(34,396)

Balance at December 2, 2021

 

$

2,011,208

 

$

2,011,208

Successor

Customer

Payor

Provider

Medical

    

Relationships

    

Trademarks

    

Contracts

    

Network

    

Licenses

    

Total

Balance at December 3, 2021(1)

$

684,000,000

$

147,700,000

$

$

3,700,000

$

$

835,400,000

Acquisitions

 

 

900,000

 

4,700,271

 

1,100,000

 

700,000

 

7,400,271

Amortization

 

(5,700,000)

 

(1,230,833)

 

 

(30,833)

 

 

(6,961,666)

Balance at December 31, 2021

$

678,300,000

$

147,369,167

$

4,700,271

$

4,769,167

$

700,000

$

835,838,605

(1)

Represents the opening balance of intangibles as of December 3, 2021 due to the Business Combination

Customer relationships recorded in the Predecessor Period of 2021 were associated with the acquisition of two medical practices. The opening balance of intangible assets at December 3, 2021 reflects the Business Combinations. Intangible assets recorded in the Successor Period of 2021 was associated with the Medcore Acquisition. See Note 7 “Business Combinations.”

Amortization of intangible assets is anticipated to be approximately $84.6 million in 2022 and 2023 and $84.1 million for each of the years 2024 through 2026. The weighted average remaining useful life of definite lived intangible assets is as below:

    

Customer

    

    

Payor

    

Provider

Relationships

Trademarks

Contracts

Network

Weighted average remaining useful life

 

9.9 years

 

9.9 years

 

10 years

 

9.9 years