Company: AMWL
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000950170-25-019024
Chunk: 38

Company: American Well Corp
Filing Date: 2025-02-12
Form: 10-K
Item: Item 16
Chunk 38
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 the Company’s stockholders. The aggregate carrying value of total assets and total liabilities included on the consolidated balance sheets for the PCs after elimination of intercompany transactions were $34,050 and $2,053, respectively, as of December 31, 2024 and $33,842 and $1,803, respectively as of December 31, 2023. 

Total revenue included on the consolidated statements of operations and comprehensive loss for the PCs after elimination of intercompany transactions was $61,357, $72,349 and $74,389 for the years ended December 31, 2024, 2023 and 2022, respectively. Net loss included on the consolidated statements of operations and comprehensive was not material for the years ended December 31, 2024, 2023 and 2022. 

6. National Telehealth Network In 2012, the Company and an affiliate of Elevance Health, Inc. formed NTN to expand the availability and adoption of telemedicine. The Company did not have a controlling financial interest in NTN, but it had the ability to exercise significance influence over the operating and financial policies of NTN. Therefore, the Company accounted for its investment in NTN using the equity method of accounting through December 31, 2015. On January 1, 2016, the Company made an additional investment in NTN, which increased its ownership percentage above 50%. The Company also obtained the right to elect the Chairman of NTN who has the ability to cast the tie-breaking vote in all decisions. Therefore, on January 1, 2016, the Company obtained control over NTN and has the power to direct the activities that most significantly impact NTN’s economic performance. This step-acquisition was accounted for as a business combination and the results of the operations of NTN from January 1, 2016, have been included in the Company’s consolidated financial statements. However, because the Company owns less than 100% of NTN, the Company recognizes net income (loss) attributable to non-controlling interest in the consolidated statements of operations and comprehensive loss equal to the percentage of the ownership interest retained in NTN by the respective non-controlling party. The proportionate share of the loss attributed to the non-controlling interest amounted to $4,495, $4,007 and $1,643 for the years ended December 31, 2024, 2023 and 2022, respectively. The carrying value of the non-controlling interest was $11,472 and $15,967