Variable Interest Entities (VIEs) (Tables)

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Assets and Liabilities, Variable Interest Entities

The following table includes assets that can only be used to settle the liabilities of the Company’s VIEs, and to which the creditors of Astrana have no recourse, and liabilities to which the creditors of the Company’s VIEs have no recourse to the general credit of Astrana, as the primary beneficiary of the VIEs. These assets and liabilities, with the exception of investments in affiliates and amounts due to, or from, affiliates, which are eliminated upon consolidation, are included in the accompanying consolidated balance sheets (in thousands).


	March 31, 2024		December 31, 2023

Assets

Current assets
Cash and cash equivalents	$	212,134	$	184,078
Investment in marketable securities	50		—
Receivables, net	47,169		21,120
Receivables, net – related party	61,870		58,707
Income taxes receivable	—		1,600
Other receivables	997		454
Prepaid expenses and other current assets	11,891		9,991



Total current assets	334,111		275,950

Non-current assets
Land, property and equipment, net	5,084		5,306
Intangible assets, net	85,058		60,906
Goodwill	236,961		140,157
Income taxes receivable, non-current	15,943		15,943

Investments in other entities – equity method	12,560		12,114
Investment in affiliates*	299,502		273,182
Investment in a privately held entity	405		405
Restricted cash	40		40
Operating lease right-of-use assets	26,082		28,796
Other assets	1,214		1,149

Total non-current assets	682,849		537,998

Total assets	$	1,016,960	$	813,948

Current liabilities
Accounts payable and accrued expenses	$	44,058	$	32,707


	March 31, 2024		December 31, 2023

Fiduciary accounts payable	7,792		7,737
Medical liabilities	69,611		55,157
Dividend payable	638		638
Income tax payable	8,431		—
Finance lease liabilities	602		646
Operating lease liabilities	3,092		3,305
Current portion of long-term debt	—		8,542
Amount due to affiliates*	110,117		107,340
Other liabilities	9,387		—

Total current liabilities	253,728		216,072

Non-current liabilities
Finance lease liabilities, net of current portion	905		1,033
Operating lease liabilities, net of current portion	26,186		28,675

Deferred tax liability	7,166		7,284
Other long-term liabilities	1,690		230

Total non-current liabilities	35,947		37,222

Total liabilities	$	289,675	$	253,294

*Investment in affiliates includes the Company’s VIEs’ investment in Astrana, which is reflected as treasury shares and eliminated upon consolidation. Amounts due to, or from, affiliates are receivables with Astrana’s subsidiaries. As a result, these balances are eliminated upon consolidation and are not reflected on Astrana’s condensed consolidated balance sheets as of March 31, 2024, and December 31, 2023.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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