Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2024 and 2023
(Dollar amounts in thousands)
| Assets |
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
81,105 |
|
$ |
41,177 |
| Investments |
|
|
144,505 |
|
|
153,572 |
| Receivables, net |
|
|
293,255 |
|
|
282,832 |
| Property and equipment, net |
|
|
52,841 |
|
|
38,419 |
| Operating lease right of use asset |
|
|
95,802 |
|
|
43,850 |
| Restricted investments |
|
|
95,775 |
|
|
90,667 |
| Federal program receivable |
|
|
2,174 |
|
|
1,597 |
| Alternative investments |
|
|
1,894 |
|
|
2,389 |
| Goodwill, net |
|
|
58,118 |
|
|
66,420 |
| Other assets |
|
|
30,982 |
|
|
26,494 |
| Total assets |
|
$ |
855,451 |
|
$ |
747,417 |
| Liabilities |
|
|
|
|
|
|
| Claims payable |
|
$ |
411,315 |
|
$ |
297,677 |
| Reserve for claims adjustment expenses |
|
|
7,024 |
|
|
6,398 |
| Premium deficiency reserves |
|
|
63,613 |
|
|
10,915 |
| Accounts payable and accrued expenses |
|
|
73,580 |
|
|
81,302 |
| Due to related party |
|
|
17,395 |
|
|
3,524 |
| Financial lease liabilities |
|
|
12,115 |
|
|
406 |
| Operating lease liabilities |
|
|
99,286 |
|
|
44,397 |
| Physicians' withholding |
|
|
45 |
|
|
33,722 |
| Premiums received in advance |
|
|
8,343 |
|
|
3,570 |
| Lease incentives |
|
|
- |
|
|
2,999 |
| Federal program payable |
|
|
3,073 |
|
|
5,941 |
| Surplus note payable to parent |
|
|
70,102 |
|
|
- |
| Total liabilities |
|
|
765,891 |
|
|
490,851 |
| Net Assets |
|
|
|
|
|
|
| Net assets |
|
|
89,560 |
|
|
256,566 |
| Total net assets |
|
|
89,560 |
|
|
256,566 |
| Total liabilities and net assets |
|
$ |
855,451 |
|
$ |
747,417 |