2021 Q3 Form 10-Q Financial Statement

#000181584921000025 Filed on November 17, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2021 Q1
Revenue $159.0M $164.0M $149.1M
YoY Change 6.97% 52.23%
Cost Of Revenue $132.6M $248.9M $124.0M
YoY Change
Gross Profit $26.41M $64.15M $25.11M
YoY Change
Gross Profit Margin 16.61% 39.11% 16.85%
Selling, General & Admin $30.80M $26.39M $24.73M
YoY Change 18.32% 6.45%
% of Gross Profit 116.6% 41.14% 98.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.095M $9.052M $9.619M
YoY Change -7.52% -6.85%
% of Gross Profit 34.44% 14.11% 38.3%
Operating Expenses $30.80M $26.39M $24.73M
YoY Change 18.32% 6.45%
Operating Profit -$516.9M -$444.3M -$6.785M
YoY Change -21034.43% 3154.25%
Interest Expense -$7.386M -$41.81M -$21.40M
YoY Change -59954.13%
% of Operating Profit
Other Income/Expense, Net -$52.00K -$5.626M -$153.0K
YoY Change -100.22% -112.76%
Pretax Income -$362.1M -$487.2M -$28.33M
YoY Change 29499.87% 3118914.08%
Income Tax -$35.30M -$19.73M -$10.50M
% Of Pretax Income
Net Earnings -$324.7M -$435.4M -$19.13M
YoY Change -268418.18% -15983.14% 102.7%
Net Earnings / Revenue -204.18% -265.41% -12.83%
Basic Earnings Per Share -$1.65 -$3.12 -$0.15
Diluted Earnings Per Share -$1.65 -$3.12 -$0.15
COMMON SHARES
Basic Shares Outstanding 197.0M shares 139.6M shares 128.3M shares
Diluted Shares Outstanding 197.0M shares 139.6M shares 128.3M shares

Balance Sheet

Concept 2021 Q3 2021 Q2 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.09M $90.57M $162.5K
YoY Change 4409.18% 362176.0%
Cash & Equivalents $66.09M $90.57M $97.68M
Short-Term Investments
Other Short-Term Assets $12.32M $7.541M $347.6K
YoY Change 2473.23%
Inventory
Prepaid Expenses $347.6K
Receivables $85.00M $87.59M
Other Receivables $0.00 $0.00
Total Short-Term Assets $163.4M $185.7M $510.2K
YoY Change 8304.23% 742688.0%
LONG-TERM ASSETS
Property, Plant & Equipment $134.9M $134.0M
YoY Change
Goodwill $603.3M $910.7M $1.300B
YoY Change
Intangibles $411.1M $611.5M
YoY Change
Long-Term Investments $345.0M
YoY Change
Other Assets $1.941M $1.871M
YoY Change 2120.24%
Total Long-Term Assets $1.405B $1.915B $345.0M
YoY Change 307.23% 2272002.3%
TOTAL ASSETS
Total Short-Term Assets $163.4M $185.7M $510.2K
Total Long-Term Assets $1.405B $1.915B $345.0M
Total Assets $1.568B $2.100B $345.5M
YoY Change 352.05% 1922092.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.02M $12.26M $5.508M
YoY Change 610.17% 12168.5%
Accrued Expenses $98.51M $101.5M $49.32K
YoY Change 159433.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.167M $8.167M
YoY Change
Total Short-Term Liabilities $125.2M $128.9M $5.557M
YoY Change 7657.81% 128926.38%
LONG-TERM LIABILITIES
Long-Term Debt $545.3M $546.8M $0.00
YoY Change
Other Long-Term Liabilities $7.231M $7.530M $32.87M
YoY Change -40.12%
Total Long-Term Liabilities $552.5M $554.3M $32.87M
YoY Change 4475.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $125.2M $128.9M $5.557M
Total Long-Term Liabilities $552.5M $554.3M $32.87M
Total Liabilities $1.066B $1.265B $38.43M
YoY Change 7689.61% 1265963.67%
SHAREHOLDERS EQUITY
Retained Earnings -$855.0M -$523.3M -$5.809M
YoY Change 68909.58% 3350015.24%
Common Stock $20.00K $20.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $495.2M $825.5M $5.000M
YoY Change
Total Liabilities & Shareholders Equity $1.568B $2.100B $345.5M
YoY Change 352.05% 1922092.83%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2021 Q1
OPERATING ACTIVITIES
Net Income -$324.7M -$435.4M -$19.13M
YoY Change -268418.18% -15983.14% 102.7%
Depreciation, Depletion And Amortization $9.095M $9.052M $9.619M
YoY Change -7.52% -6.85%
Cash From Operating Activities -$11.55M -$25.93M -$30.07M
YoY Change 2463.68%
INVESTING ACTIVITIES
Capital Expenditures -$9.865M -$19.21M $8.376M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $105.0K $240.1K $27.90K
YoY Change -100.03%
Cash From Investing Activities -$9.760M -$18.97M -$8.762M
YoY Change -97.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.042M
YoY Change
Cash From Financing Activities -3.163M -5.507M -$5.617M
YoY Change -100.91% -22128.0%
NET CHANGE
Cash From Operating Activities -11.55M -25.93M -$30.07M
Cash From Investing Activities -9.760M -18.97M -$8.762M
Cash From Financing Activities -3.163M -5.507M -$5.617M
Net Change In Cash -24.48M -50.41M -$44.45M
YoY Change -1798.93% -201732.32%
FREE CASH FLOW
Cash From Operating Activities -$11.55M -$25.93M -$30.07M
Capital Expenditures -$9.865M -$19.21M $8.376M
Free Cash Flow -$1.689M -$6.719M -$38.45M
YoY Change

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us-gaap Paid In Kind Interest
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ati Increase Decrease In Medicare Accelerated And Advance Payment Funds
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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 September 30, 2021, had 900 clinics (as well as 26 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 (herein referred to as "FAII" and "FVAC"), 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 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 and resulting impacts to diminish over time, we cannot predict the length of such impacts, and if such impacts continue for an extended period, it could have a continued effect on the Company’s results of operations, financial condition and cash flows, which could be material.</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 nine months ended September 30, 2021, the Company repaid $8.5 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 September 30, 2021 and December 31, 2020, $18.2 million and $15.5 million of the funds are recorded in accrued expenses and other liabilities, respectively, and zero and $11.2 million of the funds are recorded in other non-current liabilities, respectively.</span></div><div style="margin-bottom:14pt;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 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 September 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.</span></div>
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CY2021Q3 ati Number Of Stores Under Management Service Agreements
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CY2021Q2 us-gaap Stock Issued During Period Shares Acquisitions
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CY2021Q2 ati Common Stock Shares Issued Restricted
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CY2021Q2 ati Fair Value Disclosure Warrant Liability
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CY2021Q2 us-gaap Payments For Repurchase Of Equity
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CY2021Q2 ati Payments Of Reverse Recapitalization Transaction Costs
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CY2021Q2 ati Proceeds From Reverse Recapitalization
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229338000 USD
CY2021Q2 ati Reverse Recapitalization Transaction Cost Offset Against Proceeds
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19233000 USD
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210105000 USD
CY2021Q2 us-gaap Proceeds From Issuance Of Private Placement
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59000000 USD
ati Reverse Recapitalization Transaction Cost
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5543000 USD
ati Net Increase Decrease In Cash Related To Reverse Recapitalization
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-2473000 USD
ati Reverse Recapitalization Transaction Cost
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5500000 USD
CY2021Q2 ati Adjustments To Additional Paid In Capital Recapitalization Transaction Costs
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19200000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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159013000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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148655000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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472108000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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439147000 USD
CY2020Q4 us-gaap Goodwill
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CY2019Q4 us-gaap Goodwill
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us-gaap Goodwill Impairment Loss
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726798000 USD
CY2020 us-gaap Goodwill Impairment Loss
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us-gaap Goodwill Acquired During Period
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CY2020 us-gaap Goodwill Acquired During Period
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CY2021Q3 us-gaap Goodwill
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CY2020Q4 us-gaap Goodwill
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CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2021Q2 us-gaap Goodwill Impairment Loss
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433200000 USD
CY2021Q1 us-gaap Goodwill
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1300000000 USD
CY2021Q3 us-gaap Goodwill Impairment Loss
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307400000 USD
CY2021Q2 us-gaap Goodwill
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CY2021Q2 us-gaap Goodwill
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CY2021Q2 us-gaap Assets
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CY2021Q2 us-gaap Liabilities
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CY2021Q2 us-gaap Stockholders Equity
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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162907000 USD
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CY2020Q4 us-gaap Property Plant And Equipment Net
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CY2021Q3 us-gaap Depreciation
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CY2020Q3 us-gaap Depreciation
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us-gaap Depreciation
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us-gaap Depreciation
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CY2021Q3 ati Medicare Accelerated And Advance Payment Funds And Deferred Employer Social Security Tax Cares Act Current
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CY2020Q4 ati Medicare Accelerated And Advance Payment Funds And Deferred Employer Social Security Tax Cares Act Current
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CY2021Q3 us-gaap Employee Related Liabilities Current
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21387000 USD
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CY2020Q4 us-gaap Accrued Professional Fees Current
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CY2021Q3 us-gaap Health Care Organization Accounts Payable To Third Party Payor
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CY2020Q4 us-gaap Health Care Organization Accounts Payable To Third Party Payor
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CY2021Q3 ati Revenue Cycle Management Costs Current
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CY2020Q4 ati Revenue Cycle Management Costs Current
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2469000 USD
CY2021Q3 ati Accrued Transaction Related Cost Current
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207000 USD
CY2021Q3 us-gaap Long Term Debt Current
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CY2021Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
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CY2020Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
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CY2021Q3 us-gaap Accrued Liabilities And Other Liabilities
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CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
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CY2021Q3 us-gaap Debt Instrument Unamortized Discount
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CY2020Q4 us-gaap Debt Instrument Unamortized Discount
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8933000 USD
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CY2021Q3 us-gaap Long Term Debt
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CY2020Q4 us-gaap Long Term Debt
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2041000 USD
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8167000 USD
CY2021Q3 us-gaap Long Term Debt Noncurrent
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545283000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
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991418000 USD
us-gaap Gains Losses On Extinguishment Of Debt
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CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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546882000 USD
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3640000 USD
CY2021Q3 us-gaap Long Term Debt
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553450000 USD
CY2021Q3 us-gaap Preferred Stock Shares Authorized
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0.0001
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0 shares
CY2021Q3 us-gaap Preferred Stock Shares Issued
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470000000 shares
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
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0.0001
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
207300000 shares
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
197300000 shares
CY2021Q2 ati Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
136.7
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
55623000 shares
CY2021Q2 ati Gain Loss On Cash Settlement For Outstanding Preferred Stock
GainLossOnCashSettlementForOutstandingPreferredStock
-14000000 USD
CY2021Q3 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount Noncurrent
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0 USD
CY2020Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount Noncurrent
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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
CY2021Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-15885000 USD
CY2021Q3 ati Warrant Liability Noncurrent
WarrantLiabilityNoncurrent
6512000 USD
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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11.50
ati Class Of Warrant Or Right Exercise Period
ClassOfWarrantOrRightExercisePeriod
P30D
ati Class Of Warrant Or Right Expiration Period
ClassOfWarrantOrRightExpirationPeriod
P5Y
CY2021Q2 ati Class Of Warrant Or Right Period Warrants Are Not Transferable Assignable Or Salable After Business Combination
ClassOfWarrantOrRightPeriodWarrantsAreNotTransferableAssignableOrSalableAfterBusinessCombination
P30D
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-28300000 USD
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.694
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2300000 USD
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.078
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.069
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-58500000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
2.545
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4100000 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-28300000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-58500000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2300000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4100000 USD
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
3000000 USD
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
16096000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
15874000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
47822000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
47996000 USD
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
4425000 USD
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
4537000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
14361000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
13519000 USD
CY2021Q3 us-gaap Lease Cost
LeaseCost
20521000 USD
CY2020Q3 us-gaap Lease Cost
LeaseCost
20411000 USD
us-gaap Lease Cost
LeaseCost
62183000 USD
us-gaap Lease Cost
LeaseCost
61515000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
48918000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
45625000 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
19370000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11416000 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2021Q3 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
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
15639000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
66396000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
61723000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
54841000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
46081000 USD
CY2021Q3 ati Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
124184000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
368864000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
71400000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
297464000 USD
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
48499000 USD
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
248965000 USD
CY2021Q3 us-gaap Profit Loss
ProfitLoss
-333820000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
1022000 USD
us-gaap Profit Loss
ProfitLoss
-790764000 USD
us-gaap Profit Loss
ProfitLoss
-2488000 USD
CY2021Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2109000 USD
CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
901000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-4569000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4086000 USD
CY2021Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
CY2020Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
12000 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
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-331711000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-331711000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
109000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
109000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-786195000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-786195000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-6574000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6574000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
196996000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
196996000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
128286000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
128286000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
155197000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
155197000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
128286000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
128286000 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.68
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.68
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11270000 shares
CY2020Q3 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
11270000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares

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