Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Summary of Financial Statements Related to Discontinued Operations

The following is a summary of the assets and liabilities related to discontinued operations (in thousands):

	December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents	$	31,768
Receivables, net	5,210
Prepaid expenses and other current assets, net	2,547
Total current assets	39,525
Property and equipment, net	113
Intangible assets, net	49,232
Goodwill	39,027
Other assets, net	11,063
Total assets	$	138,960
LIABILITIES
Current liabilities:
Medical claims and related payables	$	45,929
Accounts payable and accrued expenses	5,936
Total current liabilities	51,865
Other liabilities	794
Total liabilities	52,659
Net assets	$	86,301

The results of discontinued operations are as follows (in thousands):

	Year Ended December 31,
	2023		2022		2021
Revenues:
Medical services revenue	$	266,279	$	320,018	$	317,821
Other operating revenue	414		498		688
Total revenues	266,693		320,516		318,509
Expenses:
Medical services expense	270,223		305,972		289,468
Other medical expenses	8,731		13,127		13,802
General and administrative	4,151		11,156		34,238
Depreciation and amortization	4,118		4,823		4,186
Income (loss) from operations	(20,530)		(14,562)		(23,185)
Other income (expense), net	646		75		(1,763)
Gain (loss) on sales of assets, net	(47,548)		—		473
Interest expense	(118)		(41)		(137)
Income (loss) before income taxes and noncontrolling interests	(67,550)		(14,528)		(24,612)
Income tax benefit (expense)	—		(26)		1,687
Net income (loss) from discontinued operations attributable to common shares	$	(67,550)	$	(14,554)	$	(22,925)

The following table provides significant non-cash operating items for discontinued operations that are included in the consolidated statements of cash flows (in thousands):

	Year Ended December 31,
	2023		2022		2021
Non-cash operating activities from discontinued operations:
Depreciation and amortization	$	4,118	$	4,823	$	4,186
Stock-based compensation expense	169		312		722
Deferred income taxes and uncertain tax positions	—		—		(1,697)
Release of indemnification assets	—		—		1,705
Other non-cash items	169		326		733
Cash flows from investing activities:
Purchase of property and equipment	—		(12)		(111)
Purchase of intangible assets	—		(7,000)		—