Misc
This is the Company's federal statutory income tax rate.
What is 21%?
The Company will be required to pay this amount in cash over the remaining term of its operating leases.
What is $117.8 million?
The Company recorded this new asset in 2022 related to the adoption of the new lease standard ASC 842, Leases.
What is an operating right of use asset?
The Company records this non-cash expense related to the reduction in net value of property, plant and equipment and definite lived intangible assets.
What is depreciation and amortization?
KPMG opined that CHG financials statements are presented fairly, in all material respect, in accordance with this authoritative standard.
What is GAAP?
The only cash proceeds received as a financing activity in 2022 was this.
What are proceeds from derivative asset?
The Company records an estimated liability when management believes an adverse outcome from a loss contingency is both probable and the amount can be reasonably estimated. The Company accrued this amount for expected loss contingency primary related to California wage suit for period ending 12/31/22.
What is $4.05 million?
The Company recorded $13.9 million in Restricted Cash at 12/31/22. This cash is restricted to due obligations payable to this CHG Subsidiary's VMS customers.
What is LocumSmart?
The Company records revenue based on services rendered to the customer net of these items.
What are variable consideration credits, sales allowances, and rebates?
The Company's interest costs are currently based on LIBOR. In 2023, LIBOR rates will be discontinued and the Company will pay interest costs based on this variable rate index.
What is SOFR (Secured Overnight Financing Rate)?
The Company expects to adopt this new standard in 2023.
What is ASU 2016-13, Financial Instruments – Credit Losses, Measurement of Credit Losses on Financial Instruments?
The Company self insures our locums and allied providers for Malpractice coverage up to this dollar amount per occurrence.
What is $1 million?
The Company is required to capitalize interest which represents interest cost that theoretically could have been avoided if expenditures for qualifying assets had not been made should be capitalized. Capitalizing interest recorded to measure of cost that more closely reflects the Company's total investment in the asset. The Company capitalized this amount of interest in 2022?
What is $1.2 Million?
The Company reported a one-time loss in Income from Operations related to this item.
What is Loss on lease termination (Building 3)?
KPMG included an Emphasis of Matter in the 2022 Audit Opinion for the Company's adoption of this new standard.
What is Leases (Topic 842)?
The Company recorded a permanent difference between book net income and taxable net income for these 2 items which are non-deductible for tax?
What are meals and incidentals and share-based compensation?
The Company has several cash flow needs following period cut-off including debt service on the second lien, payment on WEX credit card, and payroll tax obligations. The Company drew this balance as of 12/31/22 on the revolving line of credit to meet these needs.
What is $0?
The Company records these 2 assets based on their fair value measurement at year end. One is a Level 1 asset with fair value based on identical asset in the market and one is a Level 2 asset based on observable inputs from similar assets in the market.
What are money market funds and derivative asset?
The Company reported an unrealized gain of $35 million related to the purchase of this instrument in 2022.
What is the Derivate asset (Interest Rate Cap?)
The Company has a letters of credit to Malpractice insurance carrier to secure its obligation to pay claims. The company secured this amounts in LOC from our lenders as of 12/31/22.
What is $41.4 M?
The Company paid $110.9 million in debt service costs in 2022 which is based on variable LIBOR rate plus a fixed margin. The Company's average interest rate in 2022 from all outstanding borrowings was this.
What is 5.92%?
The Company entered into a termination agreement to terminate construction for additional office space at HQ. The Company wrote of $8.5 million in fees already paid to the landlord and agreed to pay additional lease termination costs which were accrued in 2022 of this amount?
What is $8.3M ($6.6 million and $1.6 million)?
The Company has recorded deferred tax assets (DTA) in the amount of $66.6M and has recorded an allowance/reserve against this asset of this amount.
What is $0.
Reimbursements, including those related to travel and outof-pocket expenses, are recorded on a gross basis and included in both of these financial statement captions.
What is Revenue and Cost of Services?
The Company recorded an allowance related to potential credit and settlement to customer of this amount as of 12/31/22.
What is $3.9 million?