DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2023

DERIVATIVE INSTRUMENTS [Abstract]

Impacts of Derivative Instruments on Consolidated Statements of Comprehensive Income

The impacts of the Company’s derivative instruments on the accompanying Consolidated Statements of Comprehensive Income for the three months ended March 31, 2023 are presented in the table below (in thousands):

	For the Three Months Ended
	March 31, 2023			March 31, 2022
Net income	$	11,427		$	11,982
Other comprehensive loss
Unrealized loss on cash flow hedge		(1,817	)		-
Tax effect at statutory rate (federal and state)		464			-
Comprehensive income	$	10,074		$	11,982
Comprehensive income attributable to non-controlling interest		(4,017	)		(3,183	)
Comprehensive income attributable to USPH shareholders	$	6,057		$	8,799

Carrying and Fair Value of Interest Rate Derivatives

The carrying and fair value of the Company’s interest rate derivatives (included in Other current assets and Other assets) were as follows:

	March 31, 2023		March 31, 2022
Interest rate swap:
Other current assets	$	2,614	$	-
Other assets	$	947	$	-