CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 152,825	$ 31,594
Patient accounts receivable, less provision for credit losses of $2,736 and $2,829, respectively	51,866	51,934
Accounts receivable - other	17,854	16,671
Other current assets	10,830	11,067
Total current assets	233,375	111,266
Fixed assets:
Furniture and equipment	63,982	62,074
Leasehold improvements	46,941	42,877
Fixed assets, gross	110,923	104,951
Less accumulated depreciation and amortization	(84,821)	(80,203)
Fixed assets, net	26,102	24,748
Operating lease right-of-use assets	103,431	103,004
Investment in unconsolidated affiliate	12,256	12,131
Goodwill	509,571	494,101
Other identifiable intangible assets, net	109,682	108,755
Other assets	2,821	4,149
Total assets	997,238	858,154
Current liabilities:
Accounts payable - trade	3,898	3,300
Accounts payable - due to seller of acquired business	0	3,204
Accrued expenses	55,344	37,413
Current portion of operating lease liabilities	35,252	33,709
Current portion of term loan and notes payable	7,691	7,863
Total current liabilities	102,185	85,489
Notes payable, net of current portion	1,289	1,913
Revolving facility	0	31,000
Term loan, net of current portion and deferred financing costs	137,702	142,918
Deferred taxes	24,815	21,303
Operating lease liabilities, net of current portion	76,653	77,934
Other long-term liabilities	2,356	13,029
Total liabilities	345,000	373,586
Redeemable non-controlling interest - temporary equity	174,828	167,515
Commitments and Contingencies
U.S. Physical Therapy, Inc. ("USPH") shareholders' equity:
Preferred stock, $.01 par value, 500,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $.01 par value, 20,000,000 shares authorized, 17,202,291 and 15,216,326 shares issued, respectively	172	152
Additional paid-in capital	281,096	110,317
Accumulated other comprehensive gain	2,782	4,004
Retained earnings	223,772	232,948
Treasury stock at cost, 2,214,737 shares	(31,628)	(31,628)
Total USPH shareholders' equity	476,194	315,793
Non-controlling interest - permanent equity	1,216	1,260
Total USPH shareholders' equity and non-controlling interest - permanent equity	477,410	317,053
Total liabilities, redeemable non-controlling interest, USPH shareholders' equity and non-controlling interest - permanent equity	$ 997,238	$ 858,154