XML 53 R42.htm IDEA: XBRL DOCUMENT v3.23.2
Restatement of Prior Financial Information - Schedule of Effect of Error Correction (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS        
Receivables, net $ 76,005   $ 49,631  
Income taxes receivable 0   0  
Total current assets 454,681   428,125  
Goodwill 269,406   269,053  
Income taxes receivable 15,943   15,943  
Total non-current assets 544,261   538,088  
Total assets [1] 998,942   966,213  
Medical liabilities 98,396 $ 95,758 81,255 $ 55,783
Income taxes payable 11,289   4,279  
Current liabilities 173,245   148,610  
Deferred tax liability (restated) 14,363   14,217  
Total non-current liabilities 260,413   259,056  
Liabilities [1] 433,658   407,666  
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation 14,277   14,237  
Retained earnings 195,549 151,010 182,417  
Non-controlling interest 2,714 1,749  
Total stockholders’ equity 551,007 472,638 544,310 454,107
Statement of Operations        
Provision for income taxes 6,921 6,818    
Net (loss) income 12,488 11,450    
Net income (loss) attributable to noncontrolling interest (644) (2,314)    
Net income attributable to ApolloMed $ 13,132 $ 13,764    
Earnings per share - basic attributable to common stock (in dollars per share) $ 0.28 $ 0.31    
Earnings per share - diluted attributable to common stock (in dollars per share) $ 0.28 $ 0.30    
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY        
Net (loss) income (restated) $ 14,217 $ 14,702    
CONSOLIDATED STATEMENTS OF CASH FLOWS        
Deferred tax 283 2,179    
Medical liabilities 17,141 39,974    
Income taxes payable/receivable 6,333 4,671    
Retained Earnings        
CONSOLIDATED BALANCE SHEETS        
Total stockholders’ equity 195,549 151,010 182,417 137,246
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY        
Net (loss) income (restated) 13,132 13,764    
Non-controlling Interest        
CONSOLIDATED BALANCE SHEETS        
Total stockholders’ equity 2,714 5,536 1,749 5,940
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY        
Net (loss) income (restated) 1,085 938    
Mezzanine | Non-controlling Interest        
CONSOLIDATED BALANCE SHEETS        
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation 14,277 53,053 14,237 $ 56,535
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY        
Net (loss) income (restated) (1,729) (3,252)    
Previously Reported        
CONSOLIDATED BALANCE SHEETS        
Receivables, net 79,003   52,629  
Income taxes receivable 9   4,015  
Total current assets 457,688   435,138  
Goodwill 276,028   275,675  
Income taxes receivable 0   0  
Total non-current assets 534,940   528,767  
Total assets 992,628   963,905  
Medical liabilities 101,394   84,253  
Income taxes payable 0   0  
Current liabilities 164,954   147,329  
Deferred tax liability (restated) 3,695   3,042  
Total non-current liabilities 249,745   247,881  
Liabilities 414,699   395,210  
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation 14,729   13,682  
Retained earnings 207,300 157,893 192,678  
Non-controlling interest 3,156 2,191  
Total stockholders’ equity 563,200 479,521 555,013  
Statement of Operations        
Provision for income taxes 5,102 6,195    
Net (loss) income 14,307 12,073    
Net income (loss) attributable to noncontrolling interest (315) (2,191)    
Net income attributable to ApolloMed $ 14,622 $ 14,264    
Earnings per share - basic attributable to common stock (in dollars per share) $ 0.31 $ 0.32    
Earnings per share - diluted attributable to common stock (in dollars per share) $ 0.31 $ 0.31    
CONSOLIDATED STATEMENTS OF CASH FLOWS        
Deferred tax $ 790 $ 1,985    
Income taxes payable/receivable 4,007 4,241    
Previously Reported | Retained Earnings        
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY        
Net (loss) income (restated) 14,622 14,264    
Previously Reported | Mezzanine | Non-controlling Interest        
CONSOLIDATED BALANCE SHEETS        
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation 14,729 52,151    
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY        
Net (loss) income (restated) (1,400) (3,129)    
Revision of Prior Period, Error Correction, Adjustment        
CONSOLIDATED BALANCE SHEETS        
Receivables, net (2,998)   (2,998)  
Income taxes receivable (9)   (4,015)  
Total current assets (3,007)   (7,013)  
Goodwill (6,622)   (6,622)  
Income taxes receivable 15,943   15,943  
Total non-current assets 9,321   9,321  
Total assets 6,314   2,308  
Medical liabilities (2,998)   (2,998)  
Income taxes payable 11,289   4,279  
Current liabilities 8,291   1,281  
Deferred tax liability (restated) 10,668   11,175  
Total non-current liabilities 10,668   11,175  
Liabilities 18,959   12,456  
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation (452)   555  
Retained earnings (11,751) (6,883) (10,261)  
Non-controlling interest (442) (442)  
Total stockholders’ equity (12,193) (6,883) $ (10,703)  
Statement of Operations        
Provision for income taxes 1,819 623    
Net (loss) income (1,819) (623)    
Net income (loss) attributable to noncontrolling interest (329) (123)    
Net income attributable to ApolloMed $ (1,490) $ (500)    
Earnings per share - basic attributable to common stock (in dollars per share) $ (0.03) $ (0.01)    
Earnings per share - diluted attributable to common stock (in dollars per share) $ (0.03) $ (0.01)    
CONSOLIDATED STATEMENTS OF CASH FLOWS        
Deferred tax $ (507) $ 194    
Income taxes payable/receivable 2,326 430    
Revision of Prior Period, Error Correction, Adjustment | Retained Earnings        
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY        
Net (loss) income (restated) (1,490) (500)    
Revision of Prior Period, Error Correction, Adjustment | Mezzanine | Non-controlling Interest        
CONSOLIDATED BALANCE SHEETS        
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation (452) 902    
CONSOLIDATED STATEMENTS OF MEZZANINE AND STOCKHOLDERS’ EQUITY        
Net (loss) income (restated) $ (329) $ (123)    
[1] The Company’s consolidated balance sheets include the assets and liabilities of its consolidated VIEs. The consolidated balance sheets include total assets that can be used only to settle obligations of the Company’s consolidated VIEs totaling $529.3 million and $523.7 million as of March 31, 2023 and December 31, 2022, respectively, and total liabilities of the Company’s consolidated VIEs for which creditors do not have recourse to the general credit of the primary beneficiary of $129.4 million and $131.8 million as of March 31, 2023 and December 31, 2022, respectively. The VIE balances do not include $375.6 million of investment in affiliates and $34.0 million of amounts due from affiliates as of March 31, 2023 and $304.8 million of investment in affiliates and $30.3 million of amounts due from affiliates as of December 31, 2022 as these are eliminated upon consolidation and not presented within the consolidated balance sheets. See Note 17 — “Variable Interest Entities (VIEs)” for further detail.