U S PHYSICAL THERAPY INC NV
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
USPH$99.49+2.4%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets as of June 30, 2024, and December 31, 2023
CONSOLIDATED BALANCESHEETS
(IN THOUSANDS, EXCEPT SHAREAND PER SHARE AMOUNTS)
| June 30, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS · (unaudited) | ||
| Current assets: | ||
| Cash and cash equivalents | $112,911 | $152,825 |
| Patient accounts receivable, less provision for credit losses of $3,184 and $2,736, respectively | 54,659 | 51,866 |
| Accounts receivable - other | 21,669 | 17,854 |
| Other current assets | 12,438 | 10,830 |
| Total current assets | 201,677 | 233,375 |
| Fixed assets: | ||
| Furniture and equipment | 65,775 | 63,982 |
| Leasehold improvements | 48,730 | 46,941 |
| Fixed assets, gross | 114,505 | 110,923 |
| Less accumulated depreciation and amortization | (88,277) | (84,821) |
| Fixed assets, net | 26,228 | 26,102 |
| Operating lease right-of-use assets | 105,484 | 103,431 |
| Investment in unconsolidated affiliate | 12,243 | 12,256 |
| Goodwill | 548,970 | 509,571 |
| Other identifiable intangible assets, net | 123,903 | 109,682 |
| Other assets | 4,629 | 2,821 |
| Total assets | $1,023,134 | $997,238 |
| LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, USPH SHAREHOLDERS’ EQUITY AND NON-CONTROLLING INTEREST | ||
| Current liabilities: | ||
| Accounts payable - trade | $4,100 | $3,898 |
| Accrued expenses | 58,056 | 55,344 |
| Current portion of operating lease liabilities | 35,243 | 35,252 |
| Current portion of term loan and notes payable | 9,700 | 7,691 |
| Total current liabilities | 107,099 | 102,185 |
| Notes payable, net of current portion | 1,511 | 1,289 |
| Term loan, net of current portion and deferred financing costs | 134,188 | 137,702 |
| Deferred taxes | 26,531 | 24,815 |
| Operating lease liabilities, net of current portion | 78,329 | 76,653 |
| Other long-term liabilities | 5,507 | 2,356 |
| Total liabilities | 353,165 | 345,000 |
| Redeemable non-controlling interest - temporary equity | 184,354 | 174,828 |
| Commitments and Contingencies | ||
| U.S. Physical Therapy, Inc. (“USPH”) shareholders’ equity: | ||
| Preferred stock, $0.01 par value, 500,000 shares authorized, no shares issued and outstanding | - | - |
| Common stock, $0.01 par value, 20,000,000 shares authorized, 17,291,366 and 17,202,291 shares issued, respectively | 172 | 172 |
| Additional paid-in capital | 285,462 | 281,096 |
| Accumulated other comprehensive gain | 4,084 | 2,782 |
| Retained earnings | 226,482 | 223,772 |
| Treasury stock at cost, 2,214,737 shares | (31,628) | (31,628) |
| Total USPH shareholders’ equity | 484,572 | 476,194 |
| Non-controlling interest - permanent equity | 1,043 | 1,216 |
| Total USPH shareholders’ equity and non-controlling interest - permanent equity | 485,615 | 477,410 |
| Total liabilities, redeemable non-controlling interest, USPH shareholders’ equity and non-controlling interest - permanent equity | $1,023,134 | $997,238 |
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