SCHEDULE I - Agilon health, inc.

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Schedule I: Condensed Financial Information Of Registrant

agilon health, inc.

(Parent Company Only)

CONDENSED BALANCE SHEETS

(in thousands, except per share data)

	December 31,
	2022			2021
ASSETS
Prepaid expenses and other current assets, net	$	467		$	481
Total current assets		467			481
Investment in wholly owned subsidiary		977,883			1,015,564
Loans receivable		69,383			76,614
Total assets	$	1,047,733		$	1,092,659
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Other liabilities	$	953		$	763
Stockholders' equity (deficit):
Common stock, $0.01 par value: 2,000,000 shares authorized;    412,385 and 400,095 shares issued and outstanding, respectively		4,124			4,001
Additional paid-in capital		2,106,886			2,045,572
Accumulated deficit		(1,064,230	)		(957,677	)
Total stockholders' equity (deficit)		1,046,780			1,091,896
Total liabilities and stockholders’ equity (deficit)	$	1,047,733		$	1,092,659

See accompanying Notes to the Condensed Financial Statements.

agilon health, inc.

(Parent Company Only)

CONDENSED STATEMENTS OF OPERATIONS

(in thousands)

	Year Ended December 31,
	2022			2021			2020
Equity in net income (loss) of subsidiary	$	(107,281	)	$	(406,936	)	$	(60,052	)
Interest income		728			449			—
Net income (loss) attributable to common shares	$	(106,553	)	$	(406,487	)	$	(60,052	)

See accompanying Notes to the Condensed Financial Statements.

agilon health, inc.

(Parent Company Only)

NOTES TO CONDENSED FINANCIAL STATEMENTS

NOTE 1. Description of agilon health, inc.

agilon health, inc., formerly Agilon Health Topco, Inc., (“Parent”) was incorporated in Delaware and indirectly owns 100% of the equity interest in agilon health management, inc. (“agilon”). Parent has no significant operations or assets other than its indirect ownership of the equity of agilon. Accordingly, Parent is dependent upon distributions from agilon to fund its obligations. However, under the terms of the agreements governing agilon’s borrowings, agilon’s ability to pay dividends or lend to Parent is restricted. While certain exceptions to the paying of dividends or lending funds restrictions exist, these restrictions have resulted in the restricted net assets (as defined in Rule 4-08(e)(3) of Regulation S-X) of Parent’s subsidiaries exceeding 25% of the consolidated net assets of Parent and its subsidiaries. agilon has no obligation to pay dividends to Parent.

Condensed statements of cash flows have not been presented, as agilon health, inc. did not have any cash as of, or for the years ended December 31, 2022, 2021 and 2020; see Note 3 for issuance of common stock.

NOTE 2. Basis of Presentation

The accompanying condensed Parent-only financial statements include the amounts of Parent and its investment in agilon under the equity method, and do not present the financial statements of Parent and agilon on a consolidated basis. Under the equity method, Parent’s investment in agilon is stated at cost plus contributions and equity in undistributed income (loss) of agilon less distributions received since the date of acquisition.

These condensed Parent-only financial statements have been prepared using the same accounting principles and policies described in the notes to the agilon health, inc. consolidated financial statements, with the only exception being that Parent accounts for its subsidiaries using the equity method. These condensed Parent-only financial statements should be read in conjunction with the agilon health, inc. consolidated financial statements and their accompanying notes.

NOTE 3. Equity

A discussion of Parent’s contingently redeemable common stock and stockholders’ equity activities for the years ended December 31, 2022, 2021 and 2020 can be found in Note 13 in “Notes to the Consolidated Financial Statements” of the consolidated financial statements of agilon health, inc.

There were no cash dividends paid to Parent from agilon’s consolidated subsidiaries for the years ended December 31, 2022, 2021 and 2020.

Supplemental Cash Flow Information

The following table provides supplemental cash flow information (in thousands):

	Year Ended December 31,
	2022		2021		2020
Supplemental disclosure of non-cash financing activities:
Reclassification of contingently redeemable common stock    in connection with IPO		—		309,500		—
Issuance of common stock under partner physician group    equity agreements upon IPO		—		268,467		—
Non-cash investment in unconsolidated subsidiaries		190		763		—
Settlement of stock-based liabilities		—		—		1,500

NOTE 4. Stock Incentive Plan

A discussion of Parent’s Stock Incentive Plan for the years ended December 31, 2022, 2021 and 2020 can be found in Note 14 in the section, “Notes to the Consolidated Financial Statements” of the consolidated financial statements of agilon health, inc.