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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2026

The total liabilities of VIEs included in the Company's unaudited condensed consolidated balance sheets are shown below (in

thousands):


	September 30, 2026	December 31, 2025
Current liabilities:
Current installments of long-term debt	$3,551	$3,635
Accounts payable	81,548	102,482
Accrued salaries and benefits	27,302	36,900
Other accrued expenses and liabilities	43,939	67,419
Liabilities held for sale	55,262	—
Total current liabilities	211,602	210,436
Long-term debt, less current installments	6,988	9,734
Long-term operating lease liability	78,594	101,153
Long-term operating lease liability, related party	2,301	9,313
Self-insured liabilities	680	677
Other long-term liabilities	1,552	3,826
Total liabilities	$301,717	$335,139

Disaggregation of Revenue

The Company's total revenue is presented in the following table (dollars in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
	Amount	% of Total	Amount	% of Total	Amount	% of Total Revenue	Amount	% of Total Revenue
Medicare	$641,667	39.5%	$599,491	38.0%	$1,962,379	40.5%	$1,838,885	38.9%
Medicaid	152,185	9.4%	154,120	9.8%	470,686	9.7%	463,196	9.9%
Other managed care	715,870	44.1%	701,279	44.5%	2,088,882	43.1%	2,070,484	43.9%
Self-pay and other	87,129	5.3%	86,307	5.4%	254,740	5.2%	259,390	5.5%
Net patient service revenue	$1,596,851	98.3%	$1,541,197	97.7%	$4,776,687	98.5%	$4,631,955	98.2%
Other revenue	28,005	1.7%	35,549	2.3%	72,284	1.5%	87,305	1.8%
Total revenue	$1,624,856	100.0%	$1,576,746	100.0%	$4,848,971	100.0%	$4,719,260	100.0%

Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue

The following is an analysis by state of revenue as a percentage of the Company's total revenue

for those states in which the Company generates significant revenue:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Oklahoma	23.6%	23.8%	23.1%		23.6%
New Mexico	16.8%	17.0%	17.5%		17.1%
Texas	35.9%	35.3%	35.5%		35.8%
New Jersey	10.2%	10.3%	10.3%		10.2%
Other	13.5%	13.6%	13.6%		13.3%
Total	100.0%	100.0%	100.0%		100.0%

Disposal Groups, Including Discontinued Operations

The following table

presents the major classes of assets and liabilities of the held for sale disposal group (in thousands):


	September 30, 2026
Accounts receivable	$34,132
Other current assets	19,871
Property and equipment, net	29,729
Operating lease right of use assets	10,194
Operating lease right of use assets, related party	8,604
Goodwill	17,406
Other classes of assets that are not major	13,713
Total assets held for sale	$133,649

Accounts payable	18,021
Accrued salaries and benefits	8,062
Other accrued expenses and liabilities	10,203
Long-term operating lease liability	9,968
Long-term operating lease liability, related party	6,920
Other classes of liabilities that are not major	2,088
Total liabilities held for sale	$55,262

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying amounts and fair values of the Company’s senior secured term loan facility and its 5.75% Senior Notes due

2029 (the "5.75% Senior Notes") were as follows (in thousands):


	Carrying Amount		Fair Value
	September 30, 2026	December 31, 2025	September 30, 2026	December 31, 2025
Senior secured term loan facility	$765,230	$770,499	$766,187	$770,499
5.75% Senior Notes	$299,753	$299,686	$291,885	$295,191

Equity Securities without Readily Determinable Fair Value

The following is a summary of unrealized and realized gains on the Investment recognized during the three and nine months

ended September 30, 2026 and 2025 (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Net gain recognized during the period on equity securities	$4,363	$—	$15,263	$—
Less: Net gain recognized during the period on equity securities sold during the period	$1,336	$—	$6,106	$—
Unrealized gains recognized during the period on equity securities still held at the reporting date	$3,027	$—	$9,157	$—

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 102
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483474/205-20-55-102

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-11

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483474/205-20-55-103

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480781/205-20-S99-3

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-1

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-1

+ Details

- 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.

+ References + Details