Company: PIII
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015305
Chunk: 186

Company: P3 Health Partners Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 186
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 Definite lived intangible assets:      Customer relationships671,819 (206,951)464,868 684,000 (142,500)541,500 Trademarks148,635 (46,427)102,208 148,635 (31,671)116,964 Payor contracts4,700 (1,410)3,290 4,700 (940)3,760 Provider network4,734 (1,450)3,284 4,800 (991)3,809 Total$830,588 $(256,238)$574,350 $842,835 $(176,102)$666,733 

Amortization of intangible assets was $83.7 million and $84.3 million during the years ended December 31, 2024 and 2023, respectively. Estimated future amortization of intangible assets is $82.0 million for each of the years 2025 through 2029.

P3 Health Partners Inc. | 2024 Form 10-K | 97

Note 8: Claims Payable

Activity in the liability for claims payable was as follows:December 31,20242023(in thousands)Claims unpaid, beginning of period$178,009 $151,207 Incurred, related to:Current period1,341,031 1,064,341 Prior period(s)(1,588)(2,617)Total incurred1,339,443 1,061,724 Paid, related to:Current period1,093,866 893,092 Prior period(s)168,497 141,830 Total paid1,262,363 1,034,922 Claims unpaid, end of period$255,089 $178,009 

Note 9: Retirement Plan

The Company maintains a retirement savings 401(k) Plan (the “401(k) Plan”) for full-time employees. Participants may elect to contribute to the 401(k) Plan, through payroll deductions, subject to Internal Revenue Service limitations. At its discretion, the Company can make a matching contribution to the 401(k) Plan. The Company recognized expense related to its contributions to the 401(k) Plan of $1.1 million and $1.2 million during the years ended December 31, 2024 and 2023, respectively. 

Note 10: Debt

Long-term Debt