Quarterly report pursuant to Section 13 or 15(d)

Variable Interest Entities - Balance Sheet (Details)

v3.23.2
Variable Interest Entities - Balance Sheet (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash $ 59,924 $ 17,537
Clinic fees, insurance and other receivable 1,937 7,500
Prepaid expenses and other current assets 2,231 2,643
Property and equipment, net 9,521 8,839
Other long-term assets 18,271 15,990
TOTAL ASSETS [1] 908,959 876,571
LIABILITIES AND MEMBERS’ DEFICIT    
Accounts payable 9,196 11,542
Accrued expenses and other current liabilities 22,471 16,647
Accrued payroll 5,138 8,224
Claims payable 158,528 151,207
TOTAL LIABILITIES [1] 377,890 353,912
TOTAL LIABILITIES, MEZZANINE EQUITY & STOCKHOLDERS’ (DEFICIT) EQUITY $ 908,959 $ 876,571
Accounts Payable, Noncurrent, Related Party, Type [Extensible Enumeration] Affiliated Entity [Member] Affiliated Entity [Member]
Variable Interest Entity, Primary Beneficiary    
ASSETS    
Cash $ 9,073 $ 1,759
Clinic fees, insurance and other receivable 114 1,178
Prepaid expenses and other current assets 1,256 121
Property and equipment, net 7 44
Other long-term assets 107 0
Due from consolidated entities of P3 76 3,012
TOTAL ASSETS 10,633 6,114
LIABILITIES AND MEMBERS’ DEFICIT    
Accounts payable 4,140 7,800
Accrued expenses and other current liabilities 771 262
Accrued payroll 2,221 1,885
Claims payable 6,409 0
Other long-term liabilities 969 0
Due to consolidated entities of P3 44,630 36,025
TOTAL LIABILITIES 59,140 45,972
MEMBERS’ DEFICIT (48,507) (39,858)
TOTAL LIABILITIES, MEZZANINE EQUITY & STOCKHOLDERS’ (DEFICIT) EQUITY $ 10,633 $ 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 $10.6 million and $3.1 million as of June 30, 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 $14.5 million and $9.9 million as of June 30, 2023 and December 31, 2022, respectively. These VIE assets and liabilities do not include $44.6 million and $33.0 million of net amounts due to affiliates as of June 30, 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.”