Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Schedule of Company's Condensed Consolidated Statement of Comprehensive Income and Cash Flows

The effect of the changes made to the Company's Condensed Consolidated Statements of Comprehensive Income was as follows:

Three Months Ended March 31, 2022	As Reported		Effect of Change		As Adjusted
	(in thousands)
Premium deficiency reserve benefit	$	(27,657)	$	181	$	(27,476)
Total operating expenses	961,679		181		961,860
Loss from operations	(87,300)		(181)		(87,481)
Net loss	$	(75,309)	$	(181)	$	(75,490)
Per share data:
Net loss per share attributable to Class A and B common stockholders - basic and diluted	$	(0.16)	$	—	$	(0.16)

The cumulative effect of the changes made to the Company's Condensed Consolidated Balance Sheets was as follows:

December 31, 2022	As Reported		Effect of Change		As Adjusted
	(in thousands)
Premium deficiency reserve	$	16,388	$	(9,149)	$	7,239
Total current liabilities	440,656		(9,149)		431,507
Total liabilities	460,882		(9,149)		451,733
Accumulated deficit	(1,955,582)		9,149		(1,946,433)
Total stockholders' equity	347,738		9,149		356,887
Total liabilities and stockholders' equity	808,620		—		808,620

December 31, 2021	As Reported		Effect of Change		As Adjusted
	(in thousands)
Premium deficiency reserve	$	110,628	$	(723)	$	109,905
Total current liabilities	372,624		(723)		371,901
Total liabilities	411,487		(723)		410,764
Accumulated deficit	(1,616,738)		723		(1,616,015)
Total stockholders' equity	539,317		723		540,040
Total liabilities and stockholders' equity	950,804		—		950,804

There was no impact on total net cash used in operating activities.

The following table compares the amounts currently reported to amounts that would have been reported where the determination of the premium deficiency reserves excludes anticipated net investment income in the Condensed Consolidated Statements of Comprehensive Income.

Three Months Ended March 31, 2023	As Reported		As computed excluding anticipated net investment income		Effect of Change
	(in thousands)
Premium deficiency reserve benefit	$	(1,810)	$	(4,097)	$	2,287
Total operating expenses	600,381		598,094		2,287
Loss from operations	(72,606)		(70,319)		(2,287)
Net loss	$	(72,606)	$	(70,319)	$	(2,287)
Per share data:
Net loss per share attributable to Class A and B common stockholders - basic and diluted	$	(0.15)	$	(0.15)	$	—

The following table compares the amounts currently reported to amounts that would have been reported where the determination of the premium deficiency reserves excludes anticipated net investment income in the Condensed Consolidated Balance Sheets.

March 31, 2023	As Reported		As computed excluding anticipated net investment income		Effect of Change
	(in thousands)
Premium deficiency reserve	$	5,430	$	12,292	$	(6,862)
Total current liabilities	1,110,374		1,117,236		(6,862)
Total liabilities	1,130,482		1,137,344		(6,862)
Accumulated deficit	(2,019,039)		(2,025,901)		6,862
Total stockholders' equity	323,107		316,245		6,862
Total liabilities and stockholders' equity	1,453,589		1,453,589		—

There was no impact on the Condensed Consolidated Statements of Cash Flows.