Company: PIII
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015305
Chunk: 83

Company: P3 Health Partners Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 83
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, the Company’s consolidated financial position could be impacted by such changes.LeasesThe Company leases real estate in the form of corporate office space and operating facilities. The Company’s real estate leases have noncancelable terms expiring in 2025 to 2033, certain of which have one to two renewal options of five to 10 years.Operating lease right-of-use assets of $12.9 million and $15.3 million were included within other long-term assets on the Company’s consolidated balance sheets as of December 31, 2024 and 2023, respectively.Operating lease costs are included within operating expenses on the consolidated statements of operations and were $4.6 million and $4.5 million for the years ended December 31, 2024 and 2023, respectively.Lease terms and discount rates consisted of the following as of:December 31,20242023Weighted average remaining lease term (years)4.85.8Weighted average discount rate12.4 %11.4 %

P3 Health Partners Inc. | 2024 Form 10-K | 107

Maturities of operating lease liabilities as of December 31, 2024 are as follows (in thousands):Year Ending December 31,2025$3,996 20263,565 20273,297 20283,144 20292,817 Thereafter2,793 Total undiscounted future cash flows19,612 Less: interest (5,781)Present value of operating lease liabilities $13,831 The current portions of operating right-of-use liabilities of $2.5 million and $2.7 million are included in accrued expenses and other current liabilities in the Company’s consolidated balance sheets as of December 31, 2024 and 2023, respectively.Supplemental cash flows and other information related to leases are as follows:Year Ended December 31,20242023(in thousands)Operating cash flows paid for operating leases$4,551 $4,204 

Note 14: Capitalization

As of December 31, 2024, under the Company’s amended and restated certificate of incorporation dated August 20, 2020, the Company is authorized to issue: (i) 800 million shares of Class A common stock with a par value of $0.0001 per share, (ii) 205 million shares of Class V common stock with a par value of $0.0001 per share, and