Variable Interest Entities (VIEs)

3 Months Ended

Mar. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities (VIEs)

Variable Interest Entities (VIEs)

A VIE is defined as a legal entity whose equity owners do not have sufficient equity at risk, or, as a group, the holders of the equity investment at risk lack any of the following three characteristics: decision-making rights, the obligation to absorb losses, or the right to receive the expected residual returns of the entity. The primary beneficiary is identified as the variable interest holder that has both the power to direct the activities of the VIE that most significantly affect the entity’s economic performance and the obligation to absorb expected losses or the right to receive benefits from the entity that could potentially be significant to the VIE.

The Company follows guidance on the consolidation of VIEs that requires companies to utilize a qualitative approach to determine whether it is the primary beneficiary of a VIE. See Note 2 – “Basis of Presentation and Summary of Significant Accounting Policies - Variable Interest Entities” to the accompanying consolidated financial statements for information on how the Company determines VIEs and their treatment.

The following table includes assets that can only be used to settle the liabilities of APC and its VIEs, including Alpha Care and Accountable Health Care, and to which the creditors of APC, including Alpha Care and Accountable Health Care, have no recourse to the Company, nor do creditors of the Company have recourse against the assets of APC, including Alpha Care and Accountable Health Care. These assets and liabilities, with the exception of the investment in a privately held entity that does not report net asset value per share and amounts due to affiliates, which are eliminated upon consolidation with NMM, are included in the accompanying consolidated balance sheets (in thousands).

	March 31, 2021		December 31, 2020
Assets
Current assets
Cash and cash equivalents	$	128,341	$	126,158
Investment in marketable securities	66,862		67,637
Receivables, net	14,911		5,155
Receivables, net – related party	64,699		46,718
Other receivables	734		1,084
Prepaid expenses and other current assets	7,711		14,863
Total current assets	283,258		261,615
Noncurrent assets
Land, property and equipment, net	27,439		27,599
Intangible assets, net	66,342		69,250
Goodwill	109,460		109,460
Loans receivable – related parties	4,129		4,145
Investment in affiliates	336,611		225,144
Investments in other entities – equity method	42,838		43,516
Investment in privately held entities	36,584		36,584
Restricted cash – long term	—		500
Operating lease right-of-use assets	5,950		6,298
Other assets	17,335		17,177
Total noncurrent assets	646,688		539,673
Total assets	$	929,946	$	801,288
Current liabilities
Accounts payable and accrued expenses	$	11,260	$	12,963
Fiduciary accounts payable	6,871		9,642
Medical liabilities	38,134		37,684

	March 31, 2021		December 31, 2020
Income taxes payable	7,581		4,225
Dividends payable	481		485
Amount due to affiliate	27,742		22,698
Current portion of long term debt	203		201
Finance lease liabilities	109		102
Operating lease liabilities	1,287		1,242
Total current liabilities	93,668		89,242
Noncurrent liabilities
Long-term debt	7,328		7,379
Deferred tax liability	9,128		9,144
Finance lease liabilities, net of current portion	277		311
Operating lease liabilities, net of current portion	4,870		5,242
Total noncurrent liabilities	21,603		22,076
Total liabilities	$	115,271	$	111,318

The assets of the Company’s other consolidated VIEs were not considered significant.