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Restatement of Prior Financial Information
 12 Months Ended
Dec. 31, 2022
Accounting Changes and Error Corrections [Abstract]  
Restatement of Prior Financial Information Restatement of Prior Financial Information
In connection with a review of Apollo Medical Holdings, Inc.’s (the “Company” or “ApolloMed”) tax implications of intercompany dividends and the rationale for conclusions with respect to which entities were (or should have been) included in consolidated tax returns, and related accounting matters, the Company identified errors in its accounting for the income tax effects of certain intercompany dividends and certain net operating losses. Specifically, the Company failed to accrue for income tax expense on certain intercompany dividends. Although the Company accrued taxes on the income generated by the subsidiary that made the intercompany dividend, the additional taxes due by the subsidiary entitled to the dividend were not accrued. Also, based on a review of historical tax filings, the Company concluded that its previous determination regarding the realizability of certain net operating losses was incorrect resulting in an overstatement of the valuation allowance with respect to such net operating losses. The errors resulted in a net understatement of income tax expense in prior periods and also had an impact on purchase accounting (goodwill) as a portion of the deferred tax assets affected by the errors pertained to acquisitions made in 2019. The Company has restated herein its consolidated financial statements at December 31, 2022 and 2021 and for each of the years ended December 31, 2022, 2021 and 2020, in accordance with Accounting Standards Codification (“ASC”) Topic 250, Accounting Changes and Error Corrections, for the matters discussed above as well as other immaterial items.
The effect of the error corrections are as follows (in thousands, except per share amounts):

December 31, 2022AdjustmentsDecember 31, 2022
As previously reportedAs restated
CONSOLIDATED BALANCE SHEETS
Receivables, net$52,629 $(2,998)$49,631 
Income taxes receivable$4,015 $(4,015)$— 
Total current assets$435,138 $(7,013)$428,125 
Goodwill$275,675 $(6,622)$269,053 
Income taxes receivable, non-current$— $15,943 $15,943 
Total non-current assets$528,767 $9,321 $538,088 
Total assets$963,905 $2,308 $966,213 
 Medical liabilities $84,253 $(2,998)$81,255 
 Income taxes payable $— $4,279 $4,279 
Total current liabilities$147,329 $1,281 $148,610 
Deferred tax liability$3,042 $11,175 $14,217 
Total non-current liabilities$247,881 $11,175 $259,056 
Total liabilities$395,210 $12,456 $407,666 
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation ("APC")$13,682 $555 $14,237 
Retained earnings$192,678 $(10,261)$182,417 
Non-controlling interest$2,191 $(442)$1,749 
Total stockholders' equity$555,013 $(10,703)$544,310 
2022Adjustments2022
As previously reportedAs restated
CONSOLIDATED STATEMENTS OF INCOME
Provision for income taxes$36,085 $4,790 $40,875 
Net income$50,531 $(4,790)$45,741 
Net income attributable to noncontrolling interests$1,482 $(912)$570 
Net income attributable to Apollo Medical Holdings, Inc.$49,049 $(3,878)$45,171 
Earnings per share – basic$1.09 $(0.09)$1.00 
Earnings per share – diluted$1.08 $(0.09)$0.99 
December 31, 2022AdjustmentsDecember 31, 2022
As previously reportedAs restated
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY
Mezzanine Equity – Non-controlling Interest in APC - Net loss$(2,725)$(470)$(3,195)
Retained Earnings (Accumulated Deficit) - Net income$49,049 $(3,878)$45,171 
Non-controlling Interest – Net income$4,207 $(442)$3,765 
Mezzanine Equity – Non-controlling Interest in APC$13,682 $555 $14,237 
Retained Earnings (Accumulated Deficit)$192,678 $(10,261)$182,417 
Non-controlling Interest$2,191 $(442)$1,749 
Stockholders’ Equity$555,013 $(10,703)$544,310 
2022Adjustments2022
As previously reportedAs restated
CONSOLIDATED STATEMENTS OF CASH FLOWS
Net income$50,531 $(4,790)$45,741 
Deferred tax$(7,681)$(6,597)$(14,278)
Receivable, net$(41,192)$2,998 $(38,194)
Medical liabilities$25,784 $(2,998)$22,786 
Income taxes payable/receivable$(4,470)$11,387 $6,917 
December 31, 2021AdjustmentsDecember 31, 2021
As previously reportedAs restated
CONSOLIDATED BALANCE SHEETS
Income taxes receivable$— $5,678 $5,678 
Total current assets$398,782 $5,678 $404,460 
Goodwill$253,039 $(6,623)$246,416 
Income taxes receivable, non-current$— $15,943 $15,943 
Total non-current assets$453,581 $9,320 $462,901 
Total assets$852,363 $14,998 $867,361 
Income taxes payable$652 $(652)$— 
Total current liabilities$115,371 $(652)$114,719 
Deferred tax liability$9,127 $21,008 $30,135 
Total non-current liabilities$220,992 $21,008 $242,000 
Total liabilities$336,363 $20,356 $356,719 
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation ("APC")$55,510 $1,025 $56,535 
Retained earnings$143,629 $(6,383)$137,246 
Total stockholders’ equity$460,490 $(6,383)$454,107 

2021Adjustments2021
As previously reportedAs restated
CONSOLIDATED STATEMENTS OF INCOME
Provision for income taxes$28,454 $3,239 $31,693 
Net income$49,294 $(3,239)$46,055 
Net loss attributable to noncontrolling interests$(24,564)$1,696 $(22,868)
Net income attributable to Apollo Medical Holdings, Inc.$73,858 $(4,935)$68,923 
Earnings per share – basic$1.69 $(0.12)$1.57 
Earnings per share – diluted$1.63 $(0.11)$1.52 
December 31, 2021AdjustmentsDecember 31, 2021
As previously reportedAs restated
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY
Mezzanine Equity – Non-controlling Interest in APC - Net loss$(27,331)$1,696 $(25,635)
Retained Earnings (Accumulated Deficit) - Net income$73,858 $(4,935)$68,923 
Mezzanine Equity – Non-controlling Interest in APC$55,510 $1,025 $56,535 
Retained Earnings (Accumulated Deficit)$143,629 $(6,383)$137,246 
Stockholders’ Equity$460,490 $(6,383)$454,107 

2021Adjustments2021
As previously reportedAs restated
CONSOLIDATED STATEMENTS OF CASH FLOWS
Net income$49,294 $(3,239)$46,055 
Deferred tax$(5,952)$13,623 $7,671 
Income taxes payable/receivable$(3,621)$(10,384)$(14,005)
2020Adjustments2020
As previously reportedAs restated
CONSOLIDATED STATEMENTS OF INCOME
Provision for income taxes$56,107 $237 $56,344 
Net income$122,320 $(237)$122,083 
Net income attributable to noncontrolling interests$84,454 $(59)$84,395 
Net income attributable to Apollo Medical Holdings, Inc.$37,866 $(178)$37,688 
Earnings per share – basic$1.04 $(0.01)$1.03 
Earnings per share – diluted$1.01 $— $1.01 
December 31, 2020AdjustmentsDecember 30, 2020
As previously reportedAs restated
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY
Mezzanine Equity – Non-controlling Interest in APC - Net income$83,621 $(59)$83,562 
Retained Earnings (Accumulated Deficit) - Net income$37,866 $(178)$37,688 
Mezzanine Equity – Non-controlling Interest in APC$114,237 $(671)$113,566 
Retained Earnings (Accumulated Deficit)$69,771 $(1,448)$68,323 
Stockholders’ Equity$330,911 $(1,448)$329,463 
2020Adjustments2020
As previously reportedAs restated
CONSOLIDATED STATEMENTS OF CASH FLOWS
Net income$122,320 $(237)$122,083 
Deferred tax$(6,620)$7,016 $396 
Income taxes payable/receivable$(304)$(6,779)$(7,083)

With respect to the consolidated statements of cash flows for 2022, 2021 and 2020, all adjustments are to line items within operating cash flows and there was no impact to the subtotal of operating, investing or financing cash flows for such periods.
The remainder of the notes to the Company’s consolidated financial statements have been updated and restated, as applicable, to reflect the impacts of the restatement described above