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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

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

thousands):


	September 30, 2024	December 31, 2023
Current liabilities
Current installments of long-term debt	$2,222	$2,386
Accounts payable	86,521	103,274
Accrued salaries and benefits	32,480	34,730
Other accrued expenses and liabilities	48,116	53,684
Total current liabilities	169,339	194,074
Long-term debt, less current installments	7,679	8,044
Long-term operating lease liability	111,449	120,056
Long-term operating lease liability, related party	9,449	9,520
Self-insured liabilities	659	651
Other long-term liabilities	4,606	5,437
Total liabilities	$303,181	$337,782

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,
	2024		2023		2024		2023
	Amount	% of Revenue	Amount	% of Revenue	Amount	% of Revenue	Amount	% of Revenue
Medicare	$561,491	38.7%	$537,884	39.0%	$1,709,137	39.3%	$1,608,041	39.6%
Medicaid	148,448	10.2%	151,401	11.0%	460,060	10.6%	459,244	11.3%
Other managed care	627,112	43.3%	587,802	42.7%	1,874,705	43.0%	1,713,964	42.2%
Self-pay and other	79,390	5.5%	75,761	5.5%	234,522	5.2%	210,338	5.1%
Net patient service revenue	$1,416,441	97.7%	$1,352,848	98.2%	$4,278,424	98.1%	$3,991,587	98.2%
Other revenue	33,376	2.3%	24,879	1.8%	81,359	1.9%	71,862	1.8%
Total revenue	$1,449,817	100.0%	$1,377,727	100.0%	$4,359,783	100.0%	$4,063,449	100.0%

Revenue from External Customers by Geographic Areas

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,
	2024	2023	2024	2023
Oklahoma	24.7%	24.7%	24.8%		24.3%
New Mexico	13.7%	15.2%	14.6%		15.7%
Texas	37.4%	37.2%	36.4%		35.9%
New Jersey	10.1%	10.1%	10.2%		10.4%
Other	14.1%	12.8%	14.0%		13.7%
Total	100.0%	100.0%	100.0%		100.0%

Schedule of Carrying Amounts and 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, 2024	December 31, 2023	September 30, 2024	December 31, 2023
Senior Secured Term Loan Facility	$773,515	$874,262	$773,515	$876,448
5.75% Senior Notes	$299,574	$299,506	$293,582	$259,822

- 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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