$ATIP
ATI Physical Therapy, Inc.

2021 Q2 Form 10-Q Financial Statement

#000181584921000018 Filed on August 16, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $164.0M $107.8M
YoY Change 52.23%
Cost Of Revenue $248.9M
YoY Change
Gross Profit $64.15M
YoY Change
Gross Profit Margin 39.11%
Selling, General & Admin $26.39M $24.79M
YoY Change 6.45%
% of Gross Profit 41.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.052M $9.718M
YoY Change -6.85%
% of Gross Profit 14.11%
Operating Expenses $26.39M $24.79M
YoY Change 6.45%
Operating Profit -$444.3M -$13.65M
YoY Change 3154.25%
Interest Expense -$41.81M
YoY Change
% of Operating Profit
Other Income/Expense, Net -$5.626M $44.10M
YoY Change -112.76%
Pretax Income -$487.2M -$15.62K
YoY Change 3118914.08%
Income Tax -$19.73M $3.600M
% Of Pretax Income
Net Earnings -$435.4M $2.741M
YoY Change -15983.14%
Net Earnings / Revenue -265.41% 2.54%
Basic Earnings Per Share -$3.12 $0.02
Diluted Earnings Per Share -$3.12 $0.02
COMMON SHARES
Basic Shares Outstanding 139.6M shares 128.3M shares
Diluted Shares Outstanding 139.6M shares 128.3M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $90.57M $25.00K
YoY Change 362176.0%
Cash & Equivalents $90.57M $142.0M
Short-Term Investments
Other Short-Term Assets $7.541M
YoY Change
Inventory
Prepaid Expenses
Receivables $87.59M
Other Receivables $0.00
Total Short-Term Assets $185.7M $25.00K
YoY Change 742688.0%
LONG-TERM ASSETS
Property, Plant & Equipment $134.0M
YoY Change
Goodwill $910.7M
YoY Change
Intangibles $611.5M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.871M $84.27K
YoY Change 2120.24%
Total Long-Term Assets $1.915B $84.27K
YoY Change 2272002.3%
TOTAL ASSETS
Total Short-Term Assets $185.7M $25.00K
Total Long-Term Assets $1.915B $84.27K
Total Assets $2.100B $109.3K
YoY Change 1922092.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.26M $99.89K
YoY Change 12168.5%
Accrued Expenses $101.5M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $8.167M
YoY Change
Total Short-Term Liabilities $128.9M $99.89K
YoY Change 128926.38%
LONG-TERM LIABILITIES
Long-Term Debt $546.8M $0.00
YoY Change
Other Long-Term Liabilities $7.530M
YoY Change
Total Long-Term Liabilities $554.3M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $128.9M $99.89K
Total Long-Term Liabilities $554.3M $0.00
Total Liabilities $1.265B $99.89K
YoY Change 1265963.67%
SHAREHOLDERS EQUITY
Retained Earnings -$523.3M -$15.62K
YoY Change 3350015.24%
Common Stock $20.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $825.5M $0.00
YoY Change
Total Liabilities & Shareholders Equity $2.100B $109.3K
YoY Change 1922092.83%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$435.4M $2.741M
YoY Change -15983.14%
Depreciation, Depletion And Amortization $9.052M $9.718M
YoY Change -6.85%
Cash From Operating Activities -$25.93M $0.00
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$19.21M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $240.1K
YoY Change
Cash From Investing Activities -$18.97M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $25.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.507M $25.00K
YoY Change -22128.0%
NET CHANGE
Cash From Operating Activities -25.93M $0.00
Cash From Investing Activities -18.97M
Cash From Financing Activities -5.507M $25.00K
Net Change In Cash -50.41M $25.00K
YoY Change -201732.32%
FREE CASH FLOW
Cash From Operating Activities -$25.93M $0.00
Capital Expenditures -$19.21M
Free Cash Flow -$6.719M
YoY Change

Facts In Submission

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Overview of the Company<div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ATI Physical Therapy, Inc., together with its subsidiaries (herein referred to as “we”, “the Company”, “ATI Physical Therapy” and “ATI”), is a nationally recognized healthcare company, specializing in outpatient rehabilitation and adjacent healthcare services. The Company provides outpatient physical therapy services under the name ATI Physical Therapy and, as of June 30, 2021, had 889 clinics (as well as 23 clinics under management service agreements) located in 24 states. The Company offers a variety of services within its clinics, including physical therapy to treat spine, shoulder, knee and neck injuries or pain; work injury rehabilitation services, including work conditioning and work hardening; hand therapy; and other specialized treatment services. The Company’s direct and indirect wholly-owned subsidiaries include, but are not limited to, Wilco Holdco, Inc., ATI Holdings Acquisition, Inc. and ATI Holdings, LLC.</span></div><div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 16, 2021 (the “Closing Date”), a Business Combination transaction (the “Business Combination”) was finalized pursuant to the Agreement and Plan of Merger ("Merger Agreement"), dated February 21, 2021 between the operating company, Wilco Holdco, Inc. (“Wilco Holdco”), and Fortress Value Acquisition Corp. II ("FAII"), a special purpose acquisition company. In connection with the closing of the Business Combination, the Company changed its name from Fortress Value Acquisition Corp. II to ATI Physical Therapy, Inc. The Company’s common stock is listed on the New York Stock Exchange ("NYSE") under the symbol “ATIP.”</span></div><div style="margin-bottom:12pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Business Combination is accounted for as a reverse recapitalization in accordance with U.S. generally accepted accounting principles ("GAAP"). Under </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">this method of accounting, FAII is treated as the acquired company and Wilco Holdco is treated as the acquirer for financial statement reporting and accounting purposes. As a result, the historical operations of Wilco Holdco are deemed to be those of the Company. Therefore, the financial statements included in this report reflect (i) the historical operating results of Wilco Holdco prior to the Business Combination; (ii) the combined results of the FAII and Wilco Holdco following the Business Combination on June 16, 2021; (iii) the assets and liabilities of Wilco Holdco at their historical cost; and (iv) the Company’s equity structure for all periods presented. The recapitalization of the number of shares of common stock attributable to the Business Combination is reflected retroactively to the earliest period presented and will be utilized for calculating earnings per share in all prior periods presented. No step-up basis of intangible assets or goodwill was recorded in the Business Combination consistent with the treatment of the transaction as a reverse recapitalization of Wilco Holdco, Inc. Refer to “Note 3 - </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combination</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">” for additional information.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Impact of COVID-19 and CARES Act</span></div><div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The coronavirus ("COVID-19") pandemic in the United States resulted in changes to our operating environment. We continue to closely monitor the impact of COVID-19 on all aspects of our business, and our priorities remain protecting the health and safety of employees and patients, maximizing the availability of services to satisfy patient needs and preserving the operational and financial stability of our business. While we expect the disruption caused by COVID-19 to be temporary, we cannot predict the length of such disruption, and if such disruption continues for an extended period, it could have a material impact on the Company’s results of operations, financial condition and cash flows.</span></div><div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law providing reimbursement, grants, waivers and other funds to assist health care providers during the COVID-19 pandemic. The Company has realized benefits under the CARES Act including, but not limited to, the following: </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In 2020, the Company received approximately $91.5 million of general distribution payments under the Provider Relief Fund. These payments have been recognized as other income in the consolidated statements of operations throughout 2020 in a manner commensurate with the reporting and eligibility requirements issued by HHS. Based on the terms and conditions of the program, including reporting guidance issued by HHS in 2021, the Company believes that it has met the applicable terms and conditions. This includes, but is not limited to, the fact that the Company’s COVID-19 related expenses and lost revenues for the year ended December 31, 2020 exceeded the amount of funds received. To the extent that reporting requirements and terms and conditions are subsequently modified, it may affect the Company’s ability to comply and ability to retain the funds. The following table summarizes the quarterly recognition of general distribution payments recognized in other expense (income), net in the Company's 2020 statements of operations (in millions):</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="margin-bottom:0.08pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.519%"><tr><td style="width:1.0%"/><td style="width:18.384%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.444%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.384%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.444%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.384%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.444%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.384%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.444%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.388%"/><td style="width:0.1%"/></tr><tr><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Three Months Ended</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">March 31, 2020</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">June 30, 2020</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">September 30, 2020</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2020</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccecff;padding:0 1pt"/><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">44.3 </span></td><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccecff;padding:0 1pt"/><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.1 </span></td><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccecff;padding:0 1pt"/><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">24.1 </span></td><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccecff;padding:0 1pt"/><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">91.5 </span></td><td style="background-color:#ccecff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The Company applied for and attained approval to receive $26.7 million of Medicare Accelerated and Advance Payment Program ("MAAPP") funds during the quarter ended June 30, 2020. During the quarter ended June 30, 2021, the Company repaid $3.8 million in MAAPP funds. Because the Company has not yet met all required performance obligations or performed the services related to the remaining funds, as of June 30, 2021 and December 31, 2020, $22.6 million and $15.5 million of the funds are recorded in accrued expenses and other liabilities, respectively, and $0.3 million and $11.2 million of the funds are recorded in other non-current liabilities, respectively.</span></div>•The Company elected to defer depositing the employer portion of Social Security taxes for payments due from March 27, 2020 through December 31, 2020, interest-free and penalty-free. Related to these payments, as of June 30, 2021 and December 31, 2020, $5.5 million is included in accrued expenses and other liabilities and $5.5 million is included in other non-current liabilities.
CY2021Q2 us-gaap Number Of Stores
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889 clinic
CY2021Q2 ati Number Of Stores Under Management Service Agreements
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23 clinic
CY2021Q2 us-gaap Number Of States In Which Entity Operates
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24 state
us-gaap Number Of Operating Segments
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1 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2021Q2 ati Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
136.7
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
207300000 shares
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
196600000 shares
CY2021Q2 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
34137000 shares
CY2021Q2 ati Stock Converted Reverse Recapitalization Shares
StockConvertedReverseRecapitalizationShares
130300000 shares
CY2021Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
30000000 shares
CY2021Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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12845000 shares
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
207282000 shares
CY2021Q2 ati Common Stock Shares Issued Vesting Shares
CommonStockSharesIssuedVestingShares
8625000 shares
CY2021Q2 ati Common Stock Shares Issued Restricted
CommonStockSharesIssuedRestricted
2014000 shares
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
196643000 shares
CY2021Q2 ati Fair Value Disclosure Warrant Liability
FairValueDisclosureWarrantLiability
22400000 USD
CY2021Q2 ati Fair Value Disclosure Warrant Liability
FairValueDisclosureWarrantLiability
26900000 USD
CY2021Q2 us-gaap Fair Value Adjustment Of Warrants
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4500000 USD
CY2021Q2 ati Cash Acquired Through Reverse Recapitalization
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345036000 USD
CY2021Q2 us-gaap Payments For Repurchase Of Equity
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89877000 USD
CY2021Q2 ati Payments Of Reverse Recapitalization Transaction Costs
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25821000 USD
CY2021Q2 ati Proceeds From Reverse Recapitalization
ProceedsFromReverseRecapitalization
229338000 USD
CY2021Q2 ati Reverse Recapitalization Transaction Cost Offset Against Proceeds
ReverseRecapitalizationTransactionCostOffsetAgainstProceeds
19233000 USD
CY2021Q2 ati Proceeds From Reverse Recapitalization Transaction Net Of Transaction Cost
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210105000 USD
CY2021Q2 us-gaap Proceeds From Issuance Of Private Placement
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300000000 USD
CY2021Q2 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
59000000 USD
ati Reverse Recapitalization Transaction Cost
ReverseRecapitalizationTransactionCost
5543000 USD
ati Net Increase Decrease In Cash Related To Reverse Recapitalization
NetIncreaseDecreaseInCashRelatedToReverseRecapitalization
-2473000 USD
CY2021Q2 ati Reverse Recapitalization Transaction Cost
ReverseRecapitalizationTransactionCost
3200000 USD
ati Reverse Recapitalization Transaction Cost
ReverseRecapitalizationTransactionCost
5500000 USD
CY2021Q2 ati Adjustments To Additional Paid In Capital Recapitalization Transaction Costs
AdjustmentsToAdditionalPaidInCapitalRecapitalizationTransactionCosts
19200000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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164033000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
107754000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
313095000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
290492000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
1330085000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
1330085000 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
433193000 USD
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 USD
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 USD
CY2021Q2 us-gaap Goodwill
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896892000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
1330085000 USD
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
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611512000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
644339000 USD
CY2021Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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643700000 USD
CY2021Q2 us-gaap Goodwill Impairment Loss
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433200000 USD
CY2021Q1 us-gaap Goodwill
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1300000000 USD
CY2021Q2 us-gaap Property Plant And Equipment Gross
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314356000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
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300081000 USD
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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180385000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
162907000 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
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133971000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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137174000 USD
CY2021Q2 us-gaap Depreciation
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9052000 USD
CY2020Q2 us-gaap Depreciation
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9718000 USD
us-gaap Depreciation
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18616000 USD
us-gaap Depreciation
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19657000 USD
CY2021Q2 ati Medicare Accelerated And Advance Payment Funds And Deferred Employer Social Security Tax Cares Act Current
MedicareAcceleratedAndAdvancePaymentFundsAndDeferredEmployerSocialSecurityTaxCARESActCurrent
28075000 USD
CY2020Q4 ati Medicare Accelerated And Advance Payment Funds And Deferred Employer Social Security Tax Cares Act Current
MedicareAcceleratedAndAdvancePaymentFundsAndDeferredEmployerSocialSecurityTaxCARESActCurrent
21031000 USD
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
16970000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
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21387000 USD
CY2021Q2 ati Transaction Related Amount Due To Former Owners Current
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3611000 USD
CY2020Q4 ati Transaction Related Amount Due To Former Owners Current
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3611000 USD
CY2021Q2 us-gaap Health Care Organization Accounts Payable To Third Party Payor
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2742000 USD
CY2020Q4 us-gaap Health Care Organization Accounts Payable To Third Party Payor
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9635000 USD
CY2021Q2 ati Revenue Cycle Management Costs Current
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1295000 USD
CY2020Q4 ati Revenue Cycle Management Costs Current
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2469000 USD
CY2021Q2 ati Accrued Transaction Related Cost Current
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521000 USD
CY2020Q4 ati Accrued Transaction Related Cost Current
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2547000 USD
CY2021Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
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6969000 USD
CY2020Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
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10010000 USD
CY2021Q2 us-gaap Accrued Liabilities And Other Liabilities
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60183000 USD
CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
70690000 USD
CY2021Q2 us-gaap Debt Instrument Unamortized Discount
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2627000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
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8933000 USD
CY2021Q2 us-gaap Deferred Finance Costs Net
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1560000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
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2732000 USD
CY2021Q2 us-gaap Long Term Debt
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554945000 USD
CY2020Q4 us-gaap Long Term Debt
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8167000 USD
CY2020Q4 us-gaap Long Term Debt Current
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8167000 USD
CY2021Q2 us-gaap Long Term Debt Noncurrent
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546778000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
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991418000 USD
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
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-5500000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-5500000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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4083000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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8167000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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546882000 USD
CY2021Q2 us-gaap Debt Instrument Carrying Amount
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559132000 USD
CY2021Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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4187000 USD
CY2021Q2 us-gaap Long Term Debt
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554945000 USD
CY2021Q2 us-gaap Preferred Stock Shares Authorized
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1000000.0 shares
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.0001
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q2 us-gaap Common Stock Shares Authorized
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470000000.0 shares
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
207300000 shares
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
196600000 shares
CY2021Q2 ati Recapitalization Exchange Ratio
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136.7
CY2020Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
56234000 shares
ati Class Of Warrant Or Right Expiration Period
ClassOfWarrantOrRightExpirationPeriod
P5Y
CY2021Q2 ati Gain Loss On Cash Settlement For Outstanding Preferred Stock
GainLossOnCashSettlementForOutstandingPreferredStock
-14000000.0 USD
CY2021Q2 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount Noncurrent
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0.0 USD
CY2020Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount Noncurrent
SharesSubjectToMandatoryRedemptionSettlementTermsAmountNoncurrent
163300000 USD
CY2021Q2 ati Warrant Liability Noncurrent
WarrantLiabilityNoncurrent
26936000 USD
CY2021Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
4539000 USD
CY2021Q2 ati Warrant Liability Noncurrent
WarrantLiabilityNoncurrent
22397000 USD
CY2021Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
ati Class Of Warrant Or Right Exercise Period
ClassOfWarrantOrRightExercisePeriod
P30D
CY2021Q2 ati Class Of Warrant Or Right Period Warrants Are Not Transferable Assignable Or Salable After Business Combination
ClassOfWarrantOrRightPeriodWarrantsAreNotTransferableAssignableOrSalableAfterBusinessCombination
P30D
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.043
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-20200000 USD
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.437
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3600000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.061
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-30700000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-1.024
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1800000 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-20200000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-30700000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3600000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1800000 USD
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
15903000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
16080000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
31726000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
32122000 USD
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
5000000 USD
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
4511000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
9936000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
8982000 USD
CY2021Q2 us-gaap Lease Cost
LeaseCost
20903000 USD
CY2020Q2 us-gaap Lease Cost
LeaseCost
20591000 USD
us-gaap Lease Cost
LeaseCost
41662000 USD
us-gaap Lease Cost
LeaseCost
41104000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
32583000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
30807000 USD
ati Payments For Lease Terminations
PaymentsForLeaseTerminations
4570000 USD
ati Payments For Lease Terminations
PaymentsForLeaseTerminations
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
12638000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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7789000 USD
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
6.5
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
6.5
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
32232000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
65708000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
60138000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
53020000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
44150000 USD
CY2021Q2 ati Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
116718000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
371966000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
72458000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
299508000 USD
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
48273000 USD
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
251235000 USD
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-452461000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
4596000 USD
us-gaap Profit Loss
ProfitLoss
-470279000 USD
us-gaap Profit Loss
ProfitLoss
-3510000 USD
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3769000 USD
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1855000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2460000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3185000 USD
CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
CY2020Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
274000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-448692000 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-448692000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2467000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2467000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-467819000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-467819000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6695000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-6695000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
139553000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139553000 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
128286000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
128286000 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.22
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.22
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
128286000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133951000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133951000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
128286000 shares
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.49
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.49
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11881000 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11881000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares

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