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

Restatement of Previously Issued Financial Statements (Details)

v3.22.2.2
Restatement of Previously Issued Financial Statements (Details) - USD ($)
 1 Months Ended 3 Months Ended 4 Months Ended 6 Months Ended 9 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2021
Jun. 30, 2022
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2020
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 02, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Consolidated Balance Sheet                                    
Total Current Assets                 $ 179,512           $ 456,123 $ 179,512    
Total Assets                 394,960           316,723,259 394,960    
Accumulated Deficit (formerly Accumulated Loss from Controlling Interests)                 (2,286)           (34,190,624) (2,286)    
Total Liabilities, Mezzanine Equity & Members' Equity (Deficit)                 394,960           316,723,259 394,960    
Consolidated Statement of Operations                                    
Operating Loss                 (2,286)           (22,747,817)      
Total Other Income (Expense)                             2,057,307      
Net Loss (formerly Net Loss Attributable to Controlling Interests)                 (2,286)           (24,805,124)      
P3 Health Partners Inc.                                    
Consolidated Balance Sheet                                    
Health Plan Receivables, Net $ 50,251,004 $ 99,806,410             44,962,787 $ 99,806,410           44,962,787    
Total Current Assets 199,860,950 170,979,084             90,880,587 170,979,084           90,880,587    
Total Assets 2,364,108,460 [1],[2] 1,444,209,840 [1]             106,435,206 [2] 1,444,209,840 [1]           106,435,206 [2]    
Accumulated Deficit (formerly Accumulated Loss from Controlling Interests) (39,418,124) (204,345,577)             (130,485,179) (204,345,577)           (130,485,179)    
Total Member's Deficit 273,551,441 108,624,475   $ (183,308,520) $ (154,407,902)       (130,217,705) 108,624,475 $ (183,308,520)       (272,916,391) (130,217,705) $ (99,073,637) $ (55,684,119)
Total Liabilities, Mezzanine Equity & Members' Equity (Deficit) 2,364,108,460 1,444,209,840             106,435,206 1,444,209,840           106,435,206    
Consolidated Statement of Operations                                    
Total Operating Revenue 58,762,397 269,453,971   144,586,444           542,998,305 295,884,386       578,602,418 491,063,525 145,482,112  
Medical Expenses 66,877,005 267,448,368   150,380,517           533,269,170 297,005,022       592,465,049 484,502,423 141,029,737  
Total Operating Expenses 117,650,063 1,181,641,128   170,557,507           1,507,353,190 334,843,877       707,660,010 519,651,203 185,017,783  
Operating Loss (58,887,666) (912,187,157)   (25,971,063)           (964,354,885) (38,959,491)       (129,057,592) (28,587,678) (39,535,671)  
Interest Expense, net (1,321,922) (2,733,875)   (2,369,764)           (5,495,125) (4,494,049)       (9,677,477) (2,533,180) (2,533,842)  
Total Other Income (Expense) 949,737 9,081,218   (3,493,347)           458,692 (15,155,628)       (17,342,346) (2,823,864) (2,435,887)  
Add: Net loss and tax effect attributable to Non-controlling interest (47,856,729) (748,755,990)               (798,968,740)                
Net Loss (formerly Net Loss Attributable to Controlling Interests) (10,081,200) (154,349,949)   (29,464,410)           (164,927,453) (54,115,119)       (146,399,938) (31,411,542) (41,971,558)  
Consolidated Statements of Changes in Members' Deficit                                    
Total Member's Deficit 273,551,441 108,624,475   (183,308,520) (154,407,902)       (130,217,705) 108,624,475 (183,308,520)       (272,916,391) (130,217,705) (99,073,637) (55,684,119)
Net Loss 57,937,929 903,105,939   29,464,410 24,650,712         963,896,193 54,115,119       146,399,938 31,411,542 41,971,558  
Redemption of Units                               (180,000)    
Modification                                 (1,892,002)  
Consolidated Statements of Cash Flows                                    
Net Loss 57,937,929 903,105,939   29,464,410 24,650,712         963,896,193 54,115,119       146,399,938 31,411,542 41,971,558  
P3 Health Partners Inc. | Capitated Revenue                                    
Restatement of Previously Issued Financial Statements                                    
Total RAF adjustments                   6,532,954           6,532,954    
Consolidated Balance Sheet                                    
Health Plan Receivables, Net 50,251,004 99,806,410             44,962,787 99,806,410           44,962,787    
Consolidated Statement of Operations                                    
Total Operating Revenue 57,224,539 267,102,466   141,560,867           536,787,281 290,525,057       567,735,297 480,739,577 139,332,707  
P3 Health Partners Inc. | Other Patient Service Revenue                                    
Consolidated Statement of Operations                                    
Total Operating Revenue $ 1,537,858 $ 2,351,505   3,025,577           $ 6,211,024 5,359,329       10,867,121 $ 10,323,948 $ 6,149,405  
P3 Health Partners Inc. | Class A and Class D Units                                    
Consolidated Statements of Changes in Members' Deficit                                    
Preferred return                   8.00%           8.00% 8.00%  
P3 Health Partners Inc. | Class A Units Subject to Possible Redemption                                    
Consolidated Balance Sheet                                    
Units Subject to Possible Redemption (Predecessor)                 43,656,270             $ 43,656,270    
P3 Health Partners Inc. | Class D Units Subject To Possible Redemption                                    
Consolidated Balance Sheet                                    
Units Subject to Possible Redemption (Predecessor)                 47,041,554             47,041,554    
P3 Health Partners Inc. | Class A Preferred Units                                    
Consolidated Balance Sheet                                    
Units Subject to Possible Redemption (Predecessor)       $ 43,656,270 $ 43,656,270       43,656,270   $ 43,656,270         43,656,270    
Consolidated Statements of Changes in Members' Deficit                                    
Preferred return       8.00% 8.00%           8.00%           8.00%  
P3 Health Partners Inc. | Class D Units Subject To Possible Redemption                                    
Consolidated Balance Sheet                                    
Units Subject to Possible Redemption (Predecessor)                 47,041,554           $ 47,041,554 47,041,554 $ 47,041,554  
P3 Health Partners Inc. | As Previously Reported                                    
Consolidated Balance Sheet                                    
Health Plan Receivables, Net         $ 3,687,918       38,429,833             38,429,833    
Total Current Assets         78,762,484       84,347,633             84,347,633    
Total Assets         94,189,692       99,902,252             99,902,252    
Contributed Capital     $ 41,764,270 $ 41,764,270 41,764,270       41,764,270   $ 41,764,270   $ 41,764,270     41,764,270 41,764,270  
Class A Preferred Returns     6,594,660 5,632,496 4,705,644       3,815,034   5,632,496   6,594,660     3,815,034 430,230  
Accumulated Equity-Based Compensation     2,747,960 2,392,875 1,829,084       1,368,567   2,392,875   2,747,960     1,368,567 921,092  
Accumulated Loss from Controlling Interests       (23,429,094)             (23,429,094)              
Retained Loss from Non-Controlling Interests     (26,231,059)   (21,469,673)       (18,187,381)       (26,231,059)     (18,187,381) (13,880,310)  
Accumulated Deficit (formerly Accumulated Loss from Controlling Interests)     (203,942,517) (172,576,003) (149,567,493)       (126,242,225)   (172,576,003)   (203,942,517)     (126,242,225) (85,167,716)  
Total Member's Deficit     (179,246,686) (146,395,455) (122,918,168) $ (84,110,848) $ (69,173,164) $ 63,212,106 (97,661,735)   (146,395,455) $ (69,173,164) (179,246,686) $ (84,110,848)   (97,661,735) (55,932,434) (13,868,589)
Total Liabilities, Mezzanine Equity & Members' Equity (Deficit)         94,189,692       99,902,252             99,902,252    
Consolidated Statement of Operations                                    
Total Operating Revenue     156,520,255 151,418,598 151,564,380 128,840,991 116,864,492 114,958,796     302,982,979 231,823,288 459,503,232 360,664,280   485,541,291 145,894,832  
Medical Expenses     161,662,423 150,679,717 146,890,945 127,015,976 105,777,973 115,464,322     297,570,662 221,242,295 459,233,085 348,258,272   485,513,143 141,442,457  
Total Operating Expenses       170,856,707             335,409,517         520,661,923 185,430,503  
Operating Loss       (19,438,108)             (32,426,538)   (60,550,077)     (35,120,632)    
Interest Expense, net       (4,406,240)             (8,487,374)         (9,970,260) (3,479,139)  
Total Other Income (Expense)       (5,529,823)             (19,148,953)         (10,260,944) (3,381,184)  
Add: Net loss and tax effect attributable to Non-controlling interest     (2,801,965) (1,959,421) (3,282,292) 875,560 (2,774,562) (1,550,953)     (5,241,713) (4,325,515) (8,043,678) (3,449,955)   (4,307,071) (7,907,592)  
Net Loss (formerly Net Loss Attributable to Controlling Interests)       (23,008,510)             (46,333,778)         (41,074,505) (35,009,263)  
Consolidated Statements of Changes in Members' Deficit                                    
Total Member's Deficit     (179,246,686) (146,395,455) (122,918,168) (84,110,848) (69,173,164) 63,212,106 (97,661,735)   (146,395,455) (69,173,164) (179,246,686) (84,110,848)   (97,661,735) (55,932,434) (13,868,589)
Net Loss       (24,967,931) (26,607,560)           (51,575,491)         (45,381,576) (42,916,855)  
Consolidated Statements of Cash Flows                                    
Net Loss       (24,967,931) (26,607,560)           (51,575,491)         (45,381,576) (42,916,855)  
Health Plan Settlements Receivable/Premiums Receivable                     (5,320,861)         (20,974,286)    
Class A and Class D Preferred Returns         1,956,848     (1,859,271)     3,993,325 3,718,542 6,107,441 5,577,812   7,437,080 945,297  
P3 Health Partners Inc. | As Previously Reported | Capitated Revenue                                    
Consolidated Statement of Operations                                    
Total Operating Revenue     152,276,992 147,159,665 147,700,465 124,461,275 114,042,681 112,514,334     294,860,130 226,557,015 447,137,121 351,018,290   471,551,241 138,727,943  
P3 Health Partners Inc. | As Previously Reported | Other Patient Service Revenue                                    
Consolidated Statement of Operations                                    
Total Operating Revenue     4,243,263 4,258,933 3,863,915 4,379,716 2,821,811 2,444,462     8,122,849 5,266,273 12,366,111 9,645,990   13,990,050 7,166,889  
P3 Health Partners Inc. | As Previously Reported | Class A and Class D Units                                    
Consolidated Statements of Changes in Members' Deficit                                    
Preferred Return(s) at 8%                               7,437,080 945,298  
Consolidated Statements of Cash Flows                                    
Class A and Class D Preferred Returns                     3,993,325              
P3 Health Partners Inc. | As Previously Reported | Class D Units Subject To Possible Redemption                                    
Consolidated Balance Sheet                                    
Units Subject to Possible Redemption (Predecessor)     54,936,716 53,784,760 52,675,137       51,608,900   53,784,760   54,936,716     51,608,900 47,556,622  
P3 Health Partners Inc. | As Previously Reported | Class A Preferred Units                                    
Consolidated Statements of Changes in Members' Deficit                                    
Preferred Return(s) at 8%       926,852 890,612           1,817,564              
Conversion of Debt to Units                                 3,764,025  
Units Issued                                 11,184,468  
Redemption of Units                                 (15,000,000)  
P3 Health Partners Inc. | Network Adjustments                                    
Consolidated Balance Sheet                                    
Accumulated Loss from Controlling Interests       23,429,094             23,429,094              
Retained Loss from Non-Controlling Interests     26,231,059   21,469,673       18,187,381       26,231,059     18,187,381 13,880,310  
Accumulated Deficit (formerly Accumulated Loss from Controlling Interests)     (26,231,059) (23,429,094) (21,469,673)       (18,187,381)   (23,429,094)   (26,231,059)     (18,187,381) (13,880,310)  
Consolidated Statement of Operations                                    
Add: Net loss and tax effect attributable to Non-controlling interest     2,801,965 1,959,421 3,282,292 (875,560) 2,774,562 1,550,953     5,241,713 4,325,515 8,043,678 3,449,955   4,307,071 7,907,592  
Net Loss (formerly Net Loss Attributable to Controlling Interests)       (1,959,421)             (5,241,713)         (4,307,071) (7,907,592)  
P3 Health Partners Inc. | Preferred Returns Adjustments                                    
Consolidated Balance Sheet                                    
Class A Preferred Returns     (6,594,660) (5,632,496) (4,705,644)       (3,815,034)   (5,632,496)   (6,594,660)     (3,815,034) (430,230)  
Accumulated Deficit (formerly Accumulated Loss from Controlling Interests)     14,489,765 12,375,705 10,339,227       8,382,381   12,375,705   14,489,765     8,382,381 945,297  
Total Member's Deficit     7,895,167 6,743,106 5,633,581 3,558,027 2,539,562 (1,527,340) 4,567,346   6,743,106 2,539,562 7,895,167 3,558,027   4,567,346 515,068  
Consolidated Statement of Operations                                    
Interest Expense, net       2,036,476             3,993,325         7,437,080 945,297  
Total Other Income (Expense)       2,036,476             3,993,325         7,437,080 945,297  
Net Loss (formerly Net Loss Attributable to Controlling Interests)       2,036,476             3,993,325         7,437,080 945,297  
Consolidated Statements of Changes in Members' Deficit                                    
Total Member's Deficit     7,895,167 6,743,106 5,633,581 3,558,027 2,539,562 (1,527,340) 4,567,346   6,743,106 2,539,562 7,895,167 3,558,027   4,567,346 515,068  
Net Loss       2,036,476 1,956,848           3,993,325         7,437,080 945,297  
Consolidated Statements of Cash Flows                                    
Net Loss       2,036,476 1,956,848           3,993,325         7,437,080 945,297  
Class A and Class D Preferred Returns         (1,956,848)     1,859,271     (3,993,325) (3,718,542) (6,107,441) (5,577,812)   (7,437,080) (945,297)  
P3 Health Partners Inc. | Preferred Returns Adjustments | Class A and Class D Units                                    
Consolidated Statements of Changes in Members' Deficit                                    
Preferred Return(s) at 8%                               (7,437,080) (945,298)  
Consolidated Statements of Cash Flows                                    
Class A and Class D Preferred Returns                     (3,993,325)              
P3 Health Partners Inc. | Preferred Returns Adjustments | Class D Units Subject To Possible Redemption                                    
Consolidated Balance Sheet                                    
Units Subject to Possible Redemption (Predecessor)     (7,895,162) (6,743,207) (5,633,583)       (4,567,346)   (6,743,207)   (7,895,162)     (4,567,346) (515,068)  
P3 Health Partners Inc. | Preferred Returns Adjustments | Class A Preferred Units                                    
Consolidated Statements of Changes in Members' Deficit                                    
Preferred Return(s) at 8%       (926,852) (890,612)           (1,817,564)              
P3 Health Partners Inc. | Class A Units Adjustments                                    
Consolidated Balance Sheet                                    
Contributed Capital     (41,764,270) (41,764,270) (41,764,270)       (41,764,270)   (41,764,270)   (41,764,270)     (41,764,270) (41,764,270)  
Accumulated Equity-Based Compensation     (921,092) (921,092) (921,092)       (921,092)   (921,092)   (921,092)     (921,092) (921,092)  
Accumulated Deficit (formerly Accumulated Loss from Controlling Interests)     (970,908) (970,908) (970,908)       (970,908)   (970,908)   (970,908)     (970,908) (970,908)  
Total Member's Deficit     (43,656,331) (43,656,170) (43,656,269) (43,656,271) (43,656,272) 43,656,272 (43,656,270)   (43,656,170) (43,656,272) (43,656,331) (43,656,271)   (43,656,270) (43,656,271) (41,815,530)
Consolidated Statements of Changes in Members' Deficit                                    
Total Member's Deficit     (43,656,331) (43,656,170) (43,656,269) (43,656,271) (43,656,272) 43,656,272 (43,656,270)   (43,656,170) (43,656,272) (43,656,331) (43,656,271)   (43,656,270) (43,656,271) (41,815,530)
P3 Health Partners Inc. | Class A Units Adjustments | Class A Units Subject to Possible Redemption                                    
Consolidated Balance Sheet                                    
Units Subject to Possible Redemption (Predecessor)     43,656,270 43,656,270 43,656,270       43,656,270   43,656,270   43,656,270     43,656,270 43,656,270  
P3 Health Partners Inc. | Class A Units Adjustments | Class A Preferred Units                                    
Consolidated Statements of Changes in Members' Deficit                                    
Conversion of Debt to Units                                 (3,764,025)  
Units Issued                                 (11,184,468)  
Redemption of Units                                 15,000,000  
Modification                                 (1,892,002)  
P3 Health Partners Inc. | Revenue Adjustments                                    
Consolidated Balance Sheet                                    
Health Plan Receivables, Net         6,532,954       6,532,954             6,532,954    
Total Current Assets         6,532,954       6,532,954             6,532,954    
Total Assets         6,532,954       6,532,954             6,532,954    
Accumulated Deficit (formerly Accumulated Loss from Controlling Interests)         6,532,954       6,532,954             6,532,954    
Total Member's Deficit         6,532,954       6,532,954             6,532,954    
Total Liabilities, Mezzanine Equity & Members' Equity (Deficit)         6,532,954       6,532,954             6,532,954    
Consolidated Statement of Operations                                    
Total Operating Revenue     (334,300) (6,832,155) (266,440) (297,500) (152,040) (150,800)     (7,098,593) (302,840) (7,432,894) (600,340)   5,522,234 (412,720)  
Medical Expenses     (334,300) (299,200) (266,440) (297,500) (152,040) (150,800)     (565,640) (302,840) (899,940) (600,340)   (1,010,720) (412,720)  
Total Operating Expenses       (299,200)             (565,640)         (1,010,720) (412,720)  
Operating Loss       (6,532,955)             (6,532,953)   (6,532,954)     6,532,954    
Net Loss (formerly Net Loss Attributable to Controlling Interests)       (6,532,955)             (6,532,953)         6,532,954    
Consolidated Statements of Changes in Members' Deficit                                    
Total Member's Deficit         6,532,954       6,532,954             6,532,954    
Net Loss       (6,532,955)             (6,532,953)         6,532,954    
Consolidated Statements of Cash Flows                                    
Net Loss       (6,532,955)             (6,532,953)         6,532,954    
Health Plan Settlements Receivable/Premiums Receivable                     6,532,953         (6,532,954)    
P3 Health Partners Inc. | Revenue Adjustments | Capitated Revenue                                    
Consolidated Statement of Operations                                    
Total Operating Revenue     796,003 (5,598,799) 1,263,725 721,351 472,742 436,017     (4,335,073) 908,759 (3,539,071) 1,630,111   9,188,336 604,764  
P3 Health Partners Inc. | Revenue Adjustments | Other Patient Service Revenue                                    
Consolidated Statement of Operations                                    
Total Operating Revenue     (1,130,303) (1,233,356) (1,530,165) (1,018,851) (624,782) (586,817)     (2,763,520) (1,211,599) (3,893,823) (2,230,451)   (3,666,102) (1,017,484)  
P3 Health Partners Inc. | As Restated                                    
Consolidated Balance Sheet                                    
Health Plan Receivables, Net         10,220,872       44,962,787             44,962,787    
Total Current Assets         85,295,438       90,880,587             90,880,587    
Total Assets         100,722,646       106,435,206             106,435,206    
Accumulated Equity-Based Compensation     1,826,868 1,471,783 907,992       447,475   1,471,783   1,826,868     447,475    
Accumulated Deficit (formerly Accumulated Loss from Controlling Interests)     (216,654,719) (184,600,300) (155,135,893)       (130,485,179)   (184,600,300)   (216,654,719)     (130,485,179) (99,073,637)  
Total Member's Deficit     (215,007,850) (183,308,519) (154,407,902) (124,209,092) (110,289,874) 105,341,038 (130,217,705)   (183,308,519) (110,289,874) (215,007,850) (124,209,092)   (130,217,705) (99,073,637) (55,684,119)
Total Liabilities, Mezzanine Equity & Members' Equity (Deficit)         100,722,646       106,435,206             106,435,206    
Consolidated Statement of Operations                                    
Total Operating Revenue     156,185,955 144,586,443 151,297,940 128,543,491 116,712,452 114,807,996     295,884,386 231,520,448 452,070,338 360,063,940   491,063,525 145,482,112  
Medical Expenses     161,328,123 150,380,517 146,624,505 126,718,476 105,625,933 115,313,522     297,005,022 220,939,455 458,333,145 347,657,932   484,502,423 141,029,737  
Total Operating Expenses       170,557,507             334,843,877         519,651,203 185,017,783  
Operating Loss       (25,971,063)             (38,959,491)   (67,083,031)     (28,587,678)    
Interest Expense, net       (2,369,764)             (4,494,049)         (2,533,180) (2,533,842)  
Total Other Income (Expense)       (3,493,347)             (15,155,628)         (2,823,864) (2,435,887)  
Net Loss (formerly Net Loss Attributable to Controlling Interests)       (29,464,410)             (54,115,119)         (31,411,542) (41,971,558)  
Consolidated Statements of Changes in Members' Deficit                                    
Total Member's Deficit     (215,007,850) (183,308,519) (154,407,902) (124,209,092) (110,289,874) 105,341,038 (130,217,705)   (183,308,519) (110,289,874) (215,007,850) (124,209,092)   (130,217,705) (99,073,637) $ (55,684,119)
Net Loss       (29,464,410) (24,650,712)           (54,115,119)         (31,411,542) (41,971,558)  
Consolidated Statements of Cash Flows                                    
Net Loss       (29,464,410) (24,650,712)           (54,115,119)         (31,411,542) (41,971,558)  
Health Plan Settlements Receivable/Premiums Receivable                     1,212,092         (27,507,240)    
P3 Health Partners Inc. | As Restated | Capitated Revenue                                    
Consolidated Statement of Operations                                    
Total Operating Revenue     153,072,995 141,560,866 148,964,190 125,182,626 114,515,423 112,950,351     290,525,057 227,465,774 443,598,050 352,648,401   480,739,577 139,332,707  
P3 Health Partners Inc. | As Restated | Other Patient Service Revenue                                    
Consolidated Statement of Operations                                    
Total Operating Revenue     3,112,960 3,025,577 2,333,750 $ 3,360,865 $ 2,197,029 $ 1,857,645     5,359,329 $ 4,054,674 8,472,288 $ 7,415,539   10,323,948 6,149,405  
P3 Health Partners Inc. | As Restated | Class A Units Subject to Possible Redemption                                    
Consolidated Balance Sheet                                    
Units Subject to Possible Redemption (Predecessor)     43,656,270 43,656,270 43,656,270       43,656,270   43,656,270   43,656,270     43,656,270 43,656,270  
P3 Health Partners Inc. | As Restated | Class D Units Subject To Possible Redemption                                    
Consolidated Balance Sheet                                    
Units Subject to Possible Redemption (Predecessor)     $ 47,041,554 $ 47,041,553 $ 47,041,554       $ 47,041,554   $ 47,041,553   $ 47,041,554     $ 47,041,554 47,041,554  
P3 Health Partners Inc. | As Restated | Class A Preferred Units                                    
Consolidated Statements of Changes in Members' Deficit                                    
Modification                                 $ (1,892,002)  
[1] The Company’s condensed consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 25: 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 condensed consolidated balance sheets include total assets that can be used only to settle obligations of the P3 LLC’s VIEs totaling $9.2 million and $8.1 million as of June 30, 2022 and December 31, 2021, respectively, and total liabilities of the P# LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $7.8 million and $6.1 million as of June 30, 2022 and December 31, 2021, respectively. These VIE assets and liabilities do not include $6.0 million of investment in affiliates as of June 30, 2022 and December 31, 2021, and $28.6 million and $24.1 million of amounts due to affiliates as of June 30, 2022 and December 31, 2021, respectively, as these are eliminated in consolidation and not presented within the condensed consolidated balance sheets. See Note 25 “Variable Interest Entities.”
[2] The Company’s consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 28: 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 $8.1 million and $0.8 million as of December 31, 2021 and December 31, 2020, 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 $6.1 million and $1.7 million as of December 31, 2021 and December 31, 2020, respectively. These VIE assets and liabilities do not include $6.0 million of investment in affiliates and $24.1 million of amounts due to affiliates as of December 31, 2021 and $19.4 million of amounts due to affiliates as of December 31, 2020 as these are eliminated in consolidation and not presented within the consolidated balance sheets. See Note 28 “Variable Interest Entities.”