XML 60 R46.htm IDEA: XBRL DOCUMENT

Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2022

Variable Interest Entities [Abstract]

Summary of Consolidated Asset and Liabilities Include VIE Assets and Liabilities

agilon health, inc.’s consolidated assets and liabilities include VIE assets and liabilities as follows (in thousands):


	December 31,
	2022		2021
Assets(1)
Cash and cash equivalents	$	155,819	$	104,741
Restricted cash equivalents		10,610		13,210
Receivables, net		492,077		276,590
Prepaid expenses and other current assets, net		15,515		7,046
Property and equipment, net		1,567		1,147
Intangible assets, net		17,347		7,220
Other assets, net		10,371		10,580
Liabilities(1)
Medical claims and related payables		300,798		195,812
Accounts payable and accrued expenses		159,526		81,702
Other liabilities		2,059		4,521

(1)

Assets and liabilities of VIEs presented above include the assets and liabilities of the Company’s Independent Practice Associations in California, which are consolidated VIEs and whose operations are reflected in the consolidated financial statements as discontinued operations.

Schedule of Equity Method Investments

The following table summarizes the Company’s equity method investments (in thousands):


	December 31,
	2022			2021
Equity method investments - Other(1)	$	8,329		$	6,690
Equity method investments - DCEs(1)		9,023			—
Equity method liabilities - DCEs(2)		(4,657	)		(6,380	)

(1)

Included in Other assets, net in the consolidated balance sheets.

(2)

Included in Other liabilities in the consolidated balance sheets.

Summary of Operating Results

The combined summarized operating results of the Company’s DCEs, which are recognized as equity income (loss), are as follows (in thousands):


	Year Ended December 31,
	2022			2021
Medical services revenue	$	1,071,302		$	437,081
Medical services expense		(991,565	)		(424,816	)
Other medical expenses(1)		(52,041	)		(12,219	)
Income (loss) from operations		14,294			(6,737	)
Net income (loss)(2)		10,556			(7,143	)

(1)

For the years ended December 31, 2022 and 2021, includes physician compensation expenses of $27.1 million and $1.0 million, respectively.

(2)

Included in Other income (expense), net in the consolidated statement of operations.

Summarized balance sheet

The combined summarized balance sheet of the Company’s DCEs are as follows (in thousands):


	December 31,
	2022		2021
Current and total assets	$	70,625	$	80,890
Current and total liabilities		67,343		88,033

- 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