Variable Interest Entities (VIEs) (Tables)

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Assets and Liabilities, Variable Interest Entities

The following table presents assets that may only be used to settle VIE obligations, to which the creditors of Astrana have no recourse, and liabilities for which the creditors of the Company’s VIEs have no recourse to the general credit of Astrana. These assets and liabilities of the Company’s VIEs, with the exception of investments in affiliates and amounts due to, or from, affiliates, which are eliminated upon consolidation, are included in the accompanying condensed consolidated balance sheets (in thousands).


	June 30, 2026		December 31, 2025
Assets

Current assets
Cash and cash equivalents	$	199,454	$	202,164
Receivables, net (including amounts from related parties)		195,449		208,929
Other receivables		11,387		8,907
Prepaid expenses and other current assets		10,946		12,946
Loans receivable		762		753
Amount due from affiliates (1)		25,050		58,265

Total current assets		443,048		491,964

Non-current assets
Property and equipment, net		44,192		41,646
Intangible assets, net		195,368		216,594
Goodwill		545,674		524,751
Income taxes receivable, net of current portion		12,405		12,405
Loans receivable, net of current portion		111		194
Investments in other entities – equity method		18,355		17,069
Investment in affiliates (1)		284,623		152,155
Operating lease right-of-use assets		29,687		26,499
Other assets		5,154		3,692

Total non-current assets		1,135,569		995,005

Total assets	$	1,578,617	$	1,486,969

Current liabilities
Accounts payable and accrued expenses	$	127,107	$	108,309
Fiduciary accounts payable		3,771		3,524
Medical liabilities		173,017		198,919
Income tax payable		16,145		15,007
Operating lease liabilities		6,426		5,473
Other liabilities		4,601		6,505

Total current liabilities		331,067		337,737


	June 30, 2026		December 31, 2025

Non-current liabilities
Deferred tax liability		7,418		7,159
Operating lease liabilities, net of current portion		26,571		24,241
Other long-term liabilities		1,832		6,855

Total non-current liabilities		35,821		38,255

Total liabilities	$	366,888	$	375,992

(1)

Investment in affiliates includes APC’s investment in Astrana. While such shares of Astrana’s common stock are legally issued to APC and outstanding, they are treated as treasury shares for accounting purposes and excluded from shares of common stock outstanding in the accompanying condensed consolidated financial statements. Amounts due to, or from, affiliates are receivables or payables with Astrana’s subsidiaries. As a result, these balances are eliminated upon consolidation and are not reflected on Astrana’s condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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