amn-20220630
000114275012/312022Q2false00011427502022-01-012022-06-3000011427502022-08-03xbrli:shares00011427502022-06-30iso4217:USD00011427502021-12-31iso4217:USDxbrli:shares00011427502022-04-012022-06-3000011427502021-04-012021-06-3000011427502021-01-012021-06-300001142750us-gaap:CommonStockMember2020-12-310001142750us-gaap:AdditionalPaidInCapitalMember2020-12-310001142750us-gaap:TreasuryStockMember2020-12-310001142750us-gaap:RetainedEarningsMember2020-12-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-3100011427502020-12-310001142750us-gaap:CommonStockMember2021-01-012021-03-310001142750us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-3100011427502021-01-012021-03-310001142750us-gaap:RetainedEarningsMember2021-01-012021-03-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310001142750us-gaap:CommonStockMember2021-03-310001142750us-gaap:AdditionalPaidInCapitalMember2021-03-310001142750us-gaap:TreasuryStockMember2021-03-310001142750us-gaap:RetainedEarningsMember2021-03-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-3100011427502021-03-310001142750us-gaap:CommonStockMember2021-04-012021-06-300001142750us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001142750us-gaap:RetainedEarningsMember2021-04-012021-06-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001142750us-gaap:CommonStockMember2021-06-300001142750us-gaap:AdditionalPaidInCapitalMember2021-06-300001142750us-gaap:TreasuryStockMember2021-06-300001142750us-gaap:RetainedEarningsMember2021-06-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-3000011427502021-06-300001142750us-gaap:CommonStockMember2021-12-310001142750us-gaap:AdditionalPaidInCapitalMember2021-12-310001142750us-gaap:TreasuryStockMember2021-12-310001142750us-gaap:RetainedEarningsMember2021-12-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001142750us-gaap:TreasuryStockMember2022-01-012022-03-3100011427502022-01-012022-03-310001142750us-gaap:CommonStockMember2022-01-012022-03-310001142750us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310001142750us-gaap:RetainedEarningsMember2022-01-012022-03-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001142750us-gaap:CommonStockMember2022-03-310001142750us-gaap:AdditionalPaidInCapitalMember2022-03-310001142750us-gaap:TreasuryStockMember2022-03-310001142750us-gaap:RetainedEarningsMember2022-03-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-3100011427502022-03-310001142750us-gaap:TreasuryStockMember2022-04-012022-06-300001142750us-gaap:CommonStockMember2022-04-012022-06-300001142750us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300001142750us-gaap:RetainedEarningsMember2022-04-012022-06-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300001142750us-gaap:CommonStockMember2022-06-300001142750us-gaap:AdditionalPaidInCapitalMember2022-06-300001142750us-gaap:TreasuryStockMember2022-06-300001142750us-gaap:RetainedEarningsMember2022-06-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-3000011427502021-01-012022-06-30amn:acquisition0001142750amn:ConneticsCommunicationsLLCMember2022-05-132022-05-130001142750amn:ConneticsCommunicationsLLCMember2022-05-130001142750us-gaap:CustomerRelationshipsMemberamn:ConneticsCommunicationsLLCMember2022-05-130001142750us-gaap:CustomerRelationshipsMemberamn:ConneticsCommunicationsLLCMember2022-05-132022-05-130001142750amn:StaffingDatabaseMemberamn:ConneticsCommunicationsLLCMember2022-05-130001142750amn:StaffingDatabaseMemberamn:ConneticsCommunicationsLLCMember2022-05-132022-05-130001142750amn:ConneticsCommunicationsLLCMemberus-gaap:TrademarksAndTradeNamesMember2022-05-130001142750amn:ConneticsCommunicationsLLCMemberus-gaap:TrademarksAndTradeNamesMember2022-05-132022-05-130001142750amn:SynziMember2021-04-072021-04-070001142750us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2018-02-090001142750amn:SynziMember2021-04-012021-06-300001142750amn:SynziMember2022-04-012022-06-300001142750amn:SynziMember2022-06-300001142750amn:SynziMemberus-gaap:DevelopedTechnologyRightsMember2022-06-300001142750amn:SynziMemberus-gaap:TrademarksMember2022-06-30amn:segment0001142750us-gaap:OperatingSegmentsMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750us-gaap:OperatingSegmentsMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750us-gaap:OperatingSegmentsMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750us-gaap:OperatingSegmentsMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750us-gaap:OperatingSegmentsMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750us-gaap:OperatingSegmentsMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750us-gaap:OperatingSegmentsMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750us-gaap:OperatingSegmentsMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750us-gaap:OperatingSegmentsMemberamn:TechnologyAndWorkforceSolutionsMember2022-04-012022-06-300001142750us-gaap:OperatingSegmentsMemberamn:TechnologyAndWorkforceSolutionsMember2021-04-012021-06-300001142750us-gaap:OperatingSegmentsMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750us-gaap:OperatingSegmentsMemberamn:TechnologyAndWorkforceSolutionsMember2021-01-012021-06-300001142750us-gaap:OperatingSegmentsMember2022-04-012022-06-300001142750us-gaap:OperatingSegmentsMember2021-04-012021-06-300001142750us-gaap:OperatingSegmentsMember2022-01-012022-06-300001142750us-gaap:OperatingSegmentsMember2021-01-012021-06-300001142750us-gaap:CorporateNonSegmentMember2022-04-012022-06-300001142750us-gaap:CorporateNonSegmentMember2021-04-012021-06-300001142750us-gaap:CorporateNonSegmentMember2022-01-012022-06-300001142750us-gaap:CorporateNonSegmentMember2021-01-012021-06-300001142750amn:TravelNurseStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TravelNurseStaffingMember2022-04-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TravelNurseStaffingMember2022-04-012022-06-300001142750amn:TravelNurseStaffingMember2022-04-012022-06-300001142750amn:LaborDisruptionServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:LaborDisruptionServicesMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:LaborDisruptionServicesMemberamn:TechnologyAndWorkforceSolutionsMember2022-04-012022-06-300001142750amn:LaborDisruptionServicesMember2022-04-012022-06-300001142750amn:LocalStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:LocalStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:LocalStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-04-012022-06-300001142750amn:LocalStaffingMember2022-04-012022-06-300001142750amn:AlliedStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:AlliedStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:AlliedStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-04-012022-06-300001142750amn:AlliedStaffingMember2022-04-012022-06-300001142750amn:LocalTenensStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:LocalTenensStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:LocalTenensStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-04-012022-06-300001142750amn:LocalTenensStaffingMember2022-04-012022-06-300001142750amn:InterimLeadershipStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:InterimLeadershipStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:InterimLeadershipStaffingMember2022-04-012022-06-300001142750amn:InterimLeadershipStaffingMember2022-04-012022-06-300001142750amn:TemporaryStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:TemporaryStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:TemporaryStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-04-012022-06-300001142750amn:TemporaryStaffingMember2022-04-012022-06-300001142750amn:PermanentPlacementMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:PermanentPlacementMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:PermanentPlacementMember2022-04-012022-06-300001142750amn:PermanentPlacementMember2022-04-012022-06-300001142750amn:LanguageServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LanguageServicesMember2022-04-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LanguageServicesMember2022-04-012022-06-300001142750amn:LanguageServicesMember2022-04-012022-06-300001142750amn:VendorManagementSystemsMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:VendorManagementSystemsMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:VendorManagementSystemsMemberamn:TechnologyAndWorkforceSolutionsMember2022-04-012022-06-300001142750amn:VendorManagementSystemsMember2022-04-012022-06-300001142750amn:OtherTechnologyMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:OtherTechnologyMember2022-04-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:OtherTechnologyMember2022-04-012022-06-300001142750amn:OtherTechnologyMember2022-04-012022-06-300001142750amn:TechnologyEnabledServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:TechnologyEnabledServicesMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:TechnologyEnabledServicesMemberamn:TechnologyAndWorkforceSolutionsMember2022-04-012022-06-300001142750amn:TechnologyEnabledServicesMember2022-04-012022-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:TechnologyAndWorkforceSolutionsMember2022-04-012022-06-300001142750amn:TalentPlanningAndAcquisitionsMember2022-04-012022-06-300001142750amn:NurseAndAlliedHealthcareStaffingMember2022-04-012022-06-300001142750amn:PhysicianAndLeadershipSolutionsMember2022-04-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMember2022-04-012022-06-300001142750amn:TravelNurseStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TravelNurseStaffingMember2021-04-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TravelNurseStaffingMember2021-04-012021-06-300001142750amn:TravelNurseStaffingMember2021-04-012021-06-300001142750amn:LaborDisruptionServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:LaborDisruptionServicesMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:LaborDisruptionServicesMemberamn:TechnologyAndWorkforceSolutionsMember2021-04-012021-06-300001142750amn:LaborDisruptionServicesMember2021-04-012021-06-300001142750amn:LocalStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:LocalStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:LocalStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2021-04-012021-06-300001142750amn:LocalStaffingMember2021-04-012021-06-300001142750amn:AlliedStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:AlliedStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:AlliedStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2021-04-012021-06-300001142750amn:AlliedStaffingMember2021-04-012021-06-300001142750amn:LocalTenensStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:LocalTenensStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:LocalTenensStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2021-04-012021-06-300001142750amn:LocalTenensStaffingMember2021-04-012021-06-300001142750amn:InterimLeadershipStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:InterimLeadershipStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:InterimLeadershipStaffingMember2021-04-012021-06-300001142750amn:InterimLeadershipStaffingMember2021-04-012021-06-300001142750amn:TemporaryStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:TemporaryStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:TemporaryStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2021-04-012021-06-300001142750amn:TemporaryStaffingMember2021-04-012021-06-300001142750amn:PermanentPlacementMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:PermanentPlacementMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:PermanentPlacementMember2021-04-012021-06-300001142750amn:PermanentPlacementMember2021-04-012021-06-300001142750amn:LanguageServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LanguageServicesMember2021-04-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LanguageServicesMember2021-04-012021-06-300001142750amn:LanguageServicesMember2021-04-012021-06-300001142750amn:VendorManagementSystemsMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:VendorManagementSystemsMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:VendorManagementSystemsMemberamn:TechnologyAndWorkforceSolutionsMember2021-04-012021-06-300001142750amn:VendorManagementSystemsMember2021-04-012021-06-300001142750amn:OtherTechnologyMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:OtherTechnologyMember2021-04-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:OtherTechnologyMember2021-04-012021-06-300001142750amn:OtherTechnologyMember2021-04-012021-06-300001142750amn:TechnologyEnabledServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:TechnologyEnabledServicesMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:TechnologyEnabledServicesMemberamn:TechnologyAndWorkforceSolutionsMember2021-04-012021-06-300001142750amn:TechnologyEnabledServicesMember2021-04-012021-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:TechnologyAndWorkforceSolutionsMember2021-04-012021-06-300001142750amn:TalentPlanningAndAcquisitionsMember2021-04-012021-06-300001142750amn:NurseAndAlliedHealthcareStaffingMember2021-04-012021-06-300001142750amn:PhysicianAndLeadershipSolutionsMember2021-04-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMember2021-04-012021-06-300001142750amn:TravelNurseStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TravelNurseStaffingMember2022-01-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TravelNurseStaffingMember2022-01-012022-06-300001142750amn:TravelNurseStaffingMember2022-01-012022-06-300001142750amn:LaborDisruptionServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:LaborDisruptionServicesMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:LaborDisruptionServicesMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:LaborDisruptionServicesMember2022-01-012022-06-300001142750amn:LocalStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:LocalStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:LocalStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:LocalStaffingMember2022-01-012022-06-300001142750amn:AlliedStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:AlliedStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:AlliedStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:AlliedStaffingMember2022-01-012022-06-300001142750amn:LocalTenensStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:LocalTenensStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:LocalTenensStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:LocalTenensStaffingMember2022-01-012022-06-300001142750amn:InterimLeadershipStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:InterimLeadershipStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:InterimLeadershipStaffingMember2022-01-012022-06-300001142750amn:InterimLeadershipStaffingMember2022-01-012022-06-300001142750amn:TemporaryStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:TemporaryStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:TemporaryStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:TemporaryStaffingMember2022-01-012022-06-300001142750amn:PermanentPlacementMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:PermanentPlacementMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:PermanentPlacementMember2022-01-012022-06-300001142750amn:PermanentPlacementMember2022-01-012022-06-300001142750amn:LanguageServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LanguageServicesMember2022-01-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LanguageServicesMember2022-01-012022-06-300001142750amn:LanguageServicesMember2022-01-012022-06-300001142750amn:VendorManagementSystemsMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:VendorManagementSystemsMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:VendorManagementSystemsMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:VendorManagementSystemsMember2022-01-012022-06-300001142750amn:OtherTechnologyMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:OtherTechnologyMember2022-01-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:OtherTechnologyMember2022-01-012022-06-300001142750amn:OtherTechnologyMember2022-01-012022-06-300001142750amn:TechnologyEnabledServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:TechnologyEnabledServicesMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:TechnologyEnabledServicesMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:TechnologyEnabledServicesMember2022-01-012022-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:TalentPlanningAndAcquisitionsMember2022-01-012022-06-300001142750amn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:TravelNurseStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TravelNurseStaffingMember2021-01-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TravelNurseStaffingMember2021-01-012021-06-300001142750amn:TravelNurseStaffingMember2021-01-012021-06-300001142750amn:LaborDisruptionServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:LaborDisruptionServicesMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:LaborDisruptionServicesMemberamn:TechnologyAndWorkforceSolutionsMember2021-01-012021-06-300001142750amn:LaborDisruptionServicesMember2021-01-012021-06-300001142750amn:LocalStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:LocalStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:LocalStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2021-01-012021-06-300001142750amn:LocalStaffingMember2021-01-012021-06-300001142750amn:AlliedStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:AlliedStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:AlliedStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2021-01-012021-06-300001142750amn:AlliedStaffingMember2021-01-012021-06-300001142750amn:LocalTenensStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:LocalTenensStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:LocalTenensStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2021-01-012021-06-300001142750amn:LocalTenensStaffingMember2021-01-012021-06-300001142750amn:InterimLeadershipStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:InterimLeadershipStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:InterimLeadershipStaffingMember2021-01-012021-06-300001142750amn:InterimLeadershipStaffingMember2021-01-012021-06-300001142750amn:TemporaryStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:TemporaryStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:TemporaryStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2021-01-012021-06-300001142750amn:TemporaryStaffingMember2021-01-012021-06-300001142750amn:PermanentPlacementMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:PermanentPlacementMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:PermanentPlacementMember2021-01-012021-06-300001142750amn:PermanentPlacementMember2021-01-012021-06-300001142750amn:LanguageServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LanguageServicesMember2021-01-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LanguageServicesMember2021-01-012021-06-300001142750amn:LanguageServicesMember2021-01-012021-06-300001142750amn:VendorManagementSystemsMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:VendorManagementSystemsMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:VendorManagementSystemsMemberamn:TechnologyAndWorkforceSolutionsMember2021-01-012021-06-300001142750amn:VendorManagementSystemsMember2021-01-012021-06-300001142750amn:OtherTechnologyMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:OtherTechnologyMember2021-01-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:OtherTechnologyMember2021-01-012021-06-300001142750amn:OtherTechnologyMember2021-01-012021-06-300001142750amn:TechnologyEnabledServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:TechnologyEnabledServicesMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:TechnologyEnabledServicesMemberamn:TechnologyAndWorkforceSolutionsMember2021-01-012021-06-300001142750amn:TechnologyEnabledServicesMember2021-01-012021-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:TechnologyAndWorkforceSolutionsMember2021-01-012021-06-300001142750amn:TalentPlanningAndAcquisitionsMember2021-01-012021-06-300001142750amn:NurseAndAlliedHealthcareStaffingMember2021-01-012021-06-300001142750amn:PhysicianAndLeadershipSolutionsMember2021-01-012021-06-300001142750amn:TechnologyAndWorkforceSolutionsMember2021-01-012021-06-300001142750amn:NurseAndAlliedHealthcareStaffingMember2021-12-310001142750amn:PhysicianAndLeadershipSolutionsMember2021-12-310001142750amn:TechnologyAndWorkforceSolutionsMember2021-12-310001142750amn:SynziAndSnapMDMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:SynziAndSnapMDMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:SynziAndSnapMDMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:SynziAndSnapMDMember2022-01-012022-06-300001142750amn:ConneticsCommunicationsLLCMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-06-300001142750amn:ConneticsCommunicationsLLCMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-06-300001142750amn:ConneticsCommunicationsLLCMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-06-300001142750amn:ConneticsCommunicationsLLCMember2022-01-012022-06-300001142750amn:NurseAndAlliedHealthcareStaffingMember2022-06-300001142750amn:PhysicianAndLeadershipSolutionsMember2022-06-300001142750amn:TechnologyAndWorkforceSolutionsMember2022-06-300001142750us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel2Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel3Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750amn:DeferredCompensationMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750amn:DeferredCompensationMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750amn:DeferredCompensationMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750amn:DeferredCompensationMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750amn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel1Memberamn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel2Memberamn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001142750us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:FairValueInputsLevel2Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:FairValueInputsLevel3Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750amn:DeferredCompensationMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750amn:DeferredCompensationMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750amn:DeferredCompensationMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750amn:DeferredCompensationMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001142750us-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001142750amn:ConneticsCommunicationsLLCMemberus-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMember2022-04-012022-06-300001142750amn:ConneticsCommunicationsLLCMemberus-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMember2021-04-012021-06-300001142750us-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-300001142750us-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001142750us-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001142750amn:B4healthLLCMemberus-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-06-300001142750amn:B4healthLLCMemberus-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-012021-06-300001142750amn:ConneticsCommunicationsLLCMemberus-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMember2022-01-012022-06-300001142750amn:ConneticsCommunicationsLLCMemberus-gaap:FairValueInputsLevel3Memberamn:ContingentConsiderationMember2021-01-012021-06-300001142750us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-06-300001142750us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310001142750amn:A4.625SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2020-08-13xbrli:pure0001142750us-gaap:SeniorNotesMemberamn:A4000SeniorNotesDue2029Member2020-10-200001142750amn:A4.625SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2022-06-300001142750amn:A4.625SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2021-12-310001142750us-gaap:SeniorNotesMemberamn:A4000SeniorNotesDue2029Member2022-06-300001142750us-gaap:SeniorNotesMemberamn:A4000SeniorNotesDue2029Member2021-12-310001142750us-gaap:PendingLitigationMemberamn:WageAndHourClaimsMember2022-06-30


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM 10-Q
____________________
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2022
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                       to                      
Commission File No.: 001-16753

https://cdn.kscope.io/d0aaf7274688868914a85ffe12acc485-amn-20220630_g1.jpg
AMN HEALTHCARE SERVICES, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
06-1500476
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer
Identification No.)
8840 Cypress Waters BoulevardSuite 300
DallasTexas75019
(Address of Principal Executive Offices)(Zip Code)

Registrant’s Telephone Number, Including Area Code: (866871-8519
____________________

Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading SymbolName of each exchange on which registered
Common Stock, $0.01 par valueAMNNew York Stock Exchange
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes  x  No  o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes  x No  o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer   Non-accelerated filer
Smaller reporting companyEmerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act).  Yes    No  x
As of August 3, 2022, there were 43,272,573 shares of common stock, $0.01 par value, outstanding.

Auditor Name: KPMG LLP        Auditor Location: San Diego, California        Auditor Firm ID: 185



TABLE OF CONTENTS
 
Item Page
PART I - FINANCIAL INFORMATION
1.
2.
3.
4.
PART II - OTHER INFORMATION
1.
1A.
2.
3.
4.
5.
6.



Table of Contents
PART I - FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

AMN HEALTHCARE SERVICES, INC.
 
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited and in thousands, except par value)
June 30, 2022December 31, 2021
ASSETS
Current assets:
Cash and cash equivalents$79,357 $180,928 
Accounts receivable, net of allowances of $7,522 and $6,838 at June 30, 2022 and December 31, 2021, respectively
781,404 789,131 
Accounts receivable, subcontractor247,707 239,719 
Prepaid expenses27,430 72,460 
Other current assets54,324 66,830 
Total current assets1,190,222 1,349,068 
Restricted cash, cash equivalents and investments61,744 64,482 
Fixed assets, net of accumulated depreciation of $204,384 and $189,954 at June 30, 2022 and December 31, 2021, respectively
136,490 127,114 
Operating lease right-of-use assets20,318 27,771 
Other assets148,570 156,670 
Goodwill935,675 892,341 
Intangible assets, net of accumulated amortization of $318,208 and $278,249 at June 30, 2022 and December 31, 2021, respectively
515,761 514,460 
Total assets$3,008,780 $3,131,906 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses$458,985 $425,257 
Accrued compensation and benefits416,375 354,381 
Current portion of operating lease liabilities7,429 11,383 
Deferred revenue15,942 15,950 
Other current liabilities58,648 162,419 
Total current liabilities957,379 969,390 
Notes payable, net of unamortized fees and premium842,914 842,322 
Deferred income taxes, net51,010 47,814 
Operating lease liabilities12,486 13,364 
Other long-term liabilities105,647 96,989 
Total liabilities1,969,436 1,969,879 
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; 10,000 shares authorized; none issued and outstanding at June 30, 2022 and December 31, 2021
  
Common stock, $0.01 par value; 200,000 shares authorized; 50,032 issued and 43,272 outstanding at June 30, 2022 and 49,849 issued and 47,263 outstanding at December 31, 2021
500 498 
Additional paid-in capital496,682 486,709 
Treasury stock, at cost; 6,760 and 2,586 shares at June 30, 2022 and December 31, 2021
(523,722)(121,831)
Retained earnings1,066,754 796,946 
Accumulated other comprehensive loss(870)(295)
Total stockholders’ equity1,039,344 1,162,027 
Total liabilities and stockholders’ equity$3,008,780 $3,131,906 

See accompanying notes to unaudited condensed consolidated financial statements.
1

Table of Contents
AMN HEALTHCARE SERVICES, INC.
 
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited and in thousands, except per share amounts)
 
 Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Revenue$1,426,607 $857,445 $2,979,145 $1,743,390 
Cost of revenue966,370 576,902 2,022,740 1,173,979 
Gross profit460,237 280,543 956,405 569,411 
Operating expenses:
Selling, general and administrative244,430 156,629 502,009 317,841 
Depreciation and amortization (exclusive of depreciation included in cost of revenue)32,274 24,740 62,930 47,994 
Total operating expenses276,704 181,369 564,939 365,835 
Income from operations183,533 99,174 391,466 203,576 
Interest expense, net, and other10,080 10,111 19,669 19,055 
Income before income taxes173,453 89,063 371,797 184,521 
Income tax expense49,653 22,293 101,989 47,373 
Net income$123,800 $66,770 $269,808 $137,148 
Other comprehensive income (loss):
Unrealized gains (losses) on available-for-sale securities, net, and other332 3 (575)(21)
Other comprehensive income (loss)332 3 (575)(21)
Comprehensive income$124,132 $66,773 $269,233 $137,127 
Net income per common share:
Basic$2.78 $1.40 $5.90 $2.88 
Diluted$2.77 $1.39 $5.87 $2.86 
Weighted average common shares outstanding:
Basic44,504 47,659 45,702 47,629 
Diluted44,740 48,019 45,972 47,976 
 
See accompanying notes to unaudited condensed consolidated financial statements.

2

Table of Contents
AMN HEALTHCARE SERVICES, INC.
 
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(Unaudited and in thousands)
 Common StockAdditional
Paid-in
Capital
Treasury StockRetained EarningsAccumulated Other Comprehensive IncomeTotal
 SharesAmountSharesAmount
Balance, December 31, 202049,614 $496 $468,726 (2,561)$(119,143)$469,558 $40 $819,677 
Equity awards vested, net of shares withheld for payroll taxes132 1 (5,259)— — — — (5,258)
Share-based compensation— — 9,287 — — — — 9,287 
Comprehensive income (loss)— — — — — 70,378 (24)70,354 
Balance, March 31, 202149,746 $497 $472,754 (2,561)$(119,143)$539,936 $16 $894,060 
Equity awards vested, net of shares withheld for payroll taxes78 1 (471)— — — — (470)
Share-based compensation— — 6,019 — — — — 6,019 
Comprehensive income— — — — — 66,770 3 66,773 
Balance, June 30, 202149,824 $498 $478,302 (2,561)$(119,143)$606,706 $19 $966,382 


 Common StockAdditional
Paid-in
Capital
Treasury StockRetained EarningsAccumulated Other Comprehensive LossTotal
 SharesAmountSharesAmount
Balance, December 31, 202149,849 $498 $486,709 (2,586)$(121,831)$796,946 $(295)$1,162,027 
Repurchase of common stock into treasury— — — (2,298)(228,024)— — (228,024)
Equity awards vested, net of shares withheld for payroll taxes164 2 (9,433)— — — — (9,431)
Share-based compensation— — 11,259 — — — — 11,259 
Comprehensive income (loss)— — — — — 146,008 (907)145,101 
Balance, March 31, 202250,013 $500 $488,535 (4,884)$(349,855)$942,954 $(1,202)$1,080,932 
Repurchase of common stock into treasury— — — (1,876)(173,867)— — (173,867)
Equity awards vested, net of shares withheld for payroll taxes19 — (366)— — — — (366)
Share-based compensation— — 8,513 — — — — 8,513 
Comprehensive income— — — — — 123,800 332 124,132 
Balance, June 30, 202250,032 $500 $496,682 (6,760)$(523,722)$1,066,754 $(870)$1,039,344 

See accompanying notes to unaudited condensed consolidated financial statements.

3

Table of Contents
AMN HEALTHCARE SERVICES, INC.
 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited and in thousands)
 
Six Months Ended June 30,
 
20222021
Cash flows from operating activities:
Net income$269,808 $137,148 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (inclusive of depreciation included in cost of revenue)64,757 49,081 
Non-cash interest expense and other953 (251)
Write-off of fees on credit facilities and senior notes 158 
Change in fair value of contingent consideration580  
Increase (decrease) in allowance for credit losses and sales credits13,803 (526)
Provision for deferred income taxes3,421 (1,390)
Share-based compensation19,772 15,306 
Loss on disposal or sale of fixed assets479 383 
Net loss (gain) on investments in available-for-sale securities536 (35)
Net loss (gain) on deferred compensation balances(39)245 
Non-cash lease expense3,542 (794)
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable(3,535)(91,911)
Accounts receivable, subcontractor(7,988)(56,424)
Income taxes receivable(1,022)4,791 
Prepaid expenses45,083 (4,186)
Other current assets15,338 3,308 
Other assets1,002 962 
Accounts payable and accrued expenses29,461 91,823 
Accrued compensation and benefits73,349 65,101 
Other liabilities(104,729)(5,765)
Deferred revenue106 3,582 
Restricted investments balance 19 
Net cash provided by operating activities424,677 210,625 
Cash flows from investing activities:
Purchase and development of fixed assets(30,811)(23,069)
Purchase of investments(10,659)(17,995)
Proceeds from sale and maturity of investments9,085 30,700 
Purchase of equity investment (500)
Proceeds from sale of equity investment68  
Payments to fund deferred compensation plan(12,584)(1,391)
Cash paid for acquisitions, net of cash and restricted cash received(69,801)(41,264)
Cash paid for other intangibles(1,060)(90)
Net cash used in investing activities(115,762)(53,609)
4

Table of Contents
 
Six Months Ended June 30,
 
20222021
Cash flows from financing activities:
Payments on term loans (21,875)
Payments on revolving credit facility (70,000)
Proceeds from revolving credit facility 70,000 
Repurchase of common stock(401,891) 
Earn-out payments to settle contingent consideration liabilities for prior acquisitions (3,100)
Cash paid for shares withheld for taxes(9,797)(5,728)
Net cash used in financing activities(411,688)(30,703)
Effect of exchange rate changes on cash (21)
Net increase (decrease) in cash, cash equivalents and restricted cash(102,773)126,292 
Cash, cash equivalents and restricted cash at beginning of period246,714 83,990 
Cash, cash equivalents and restricted cash at end of period$143,941 $210,282 
Supplemental disclosures of cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities$7,922 $9,740 
Cash paid for interest (net of $254 and $195 capitalized for the six months ended June 30, 2022 and 2021, respectively)
$18,887 $19,028 
Cash paid for income taxes$120,660 $44,061 
Acquisitions:
Fair value of tangible assets acquired in acquisitions, net of cash and restricted cash received$2,731 $1,910 
Goodwill43,301 27,726 
Intangible assets40,200 12,440 
Liabilities assumed(8,431)(812)
Contingent consideration liabilities(8,000) 
Net cash paid for acquisitions$69,801 $41,264 
Supplemental disclosures of non-cash investing and financing activities:
Purchase of fixed assets recorded in accounts payable and accrued expenses$7,562 $3,665 

See accompanying notes to unaudited condensed consolidated financial statements.
5

Table of Contents
AMN HEALTHCARE SERVICES, INC.
 
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(in thousands, except per share amounts)
 
1. BASIS OF PRESENTATION
The condensed consolidated balance sheets and related condensed consolidated statements of comprehensive income and cash flows contained in this Quarterly Report on Form 10-Q (this “Quarterly Report”), which are unaudited, include the accounts of AMN Healthcare Services, Inc. and its wholly-owned subsidiaries (collectively, the “Company”). All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all entries necessary for a fair presentation of such unaudited condensed consolidated financial statements have been included. These entries consisted of all normal recurring items. The results of operations for the interim period are not necessarily indicative of the results to be expected for any other interim period or for the entire fiscal year or for any future period.
The unaudited condensed consolidated financial statements do not include all information and notes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”). Please refer to the Company’s audited consolidated financial statements and the related notes for the fiscal year ended December 31, 2021, contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the Securities and Exchange Commission on February 24, 2022 (the “2021 Annual Report”).
The preparation of financial statements in conformity with U.S. GAAP requires management to make a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. On an ongoing basis, the Company evaluates its estimates, including those related to intangible assets purchased in a business combination, asset impairments, accruals for self-insurance, compensation and related benefits, accounts receivable, contingencies and litigation, contingent consideration liabilities associated with acquisitions, and income taxes. Actual results could differ from those estimates under different assumptions or conditions.
Cash, Cash Equivalents and Restricted Cash
The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents include currency on hand, deposits with financial institutions, money market funds, commercial paper and other highly liquid investments. Restricted cash and cash equivalents primarily includes cash, corporate bonds and commercial paper that serve as collateral for the Company’s captive insurance subsidiary claim payments. See Note (6), “Fair Value Measurement” for additional information.
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the accompanying condensed consolidated balance sheets and related notes to the amounts presented in the accompanying condensed consolidated statements of cash flows.
 June 30, 2022December 31, 2021
Cash and cash equivalents$79,357 $180,928 
Restricted cash and cash equivalents (included in other current assets)31,041 29,262 
Restricted cash, cash equivalents and investments61,744 64,482 
Total cash, cash equivalents and restricted cash and investments172,142 274,672 
Less restricted investments(28,201)(27,958)
Total cash, cash equivalents and restricted cash$143,941 $246,714 
Accounts Receivable

The Company records accounts receivable at the invoiced amount. Accounts receivable are non-interest bearing. The Company maintains an allowance for expected credit losses based on the Company’s historical write-off experience, an assessment of its customers’ financial conditions and available information that is relevant to assessing the collectability of cash flows, which includes current conditions and forecasts about future economic conditions.
The following table provides a reconciliation of activity in the allowance for credit losses for accounts receivable:
6

Table of Contents
20222021
Balance as of January 1,$6,838 $7,043 
Provision for expected credit losses1,280 (1,213)
Amounts written off charged against the allowance(596)(317)
Balance as of June 30,$7,522 $5,513 

7

Table of Contents
2. ACQUISITIONS
As set forth below, the Company completed two acquisitions during the period of January 1, 2021 through June 30, 2022, which were accounted for using the acquisition method of accounting. Accordingly, the Company recorded the tangible and intangible assets acquired and liabilities assumed at their estimated fair values as of the applicable date of acquisition. Since the applicable date of acquisition, the Company has revised the allocation of the purchase price to the tangible and intangible assets acquired and liabilities assumed based on analysis of information that has been made available through June 30, 2022. The allocations will continue to be updated through the measurement period, if necessary. The goodwill recognized for these acquisitions is attributable to expected growth as the Company leverages its brand and diversifies its services offered to clients, including potential revenue growth and margin expansion. For each acquisition, the Company did not incur any material acquisition-related costs.
Connetics Acquisition
On May 13, 2022, the Company completed its acquisition of Connetics Communications, LLC (“Connetics”), which specializes in the direct hire recruitment and permanent placement of international nurse and allied health professionals with healthcare facilities in the United States. The initial purchase price of $78,764 included (1) $70,764 cash consideration paid upon acquisition, funded through cash on hand, and (2) a contingent earn-out payment of up to $12,500 with an estimated fair value of $8,000 as of the acquisition date. The contingent earn-out payment is based on the operating results of Connetics for the twelve months ending May 31, 2023. The results of Connetics have been included in the Company’s nurse and allied solutions segment since the date of acquisition.
The preliminary allocation of the $78,764 consisted of (1) $3,694 of fair value of tangible assets acquired, which included $963 cash received, (2) $8,431 of liabilities assumed, (3) $40,200 of identified intangible assets, and (4) $43,301 of goodwill, of which $35,317 is deductible for tax purposes. The intangible assets acquired have a weighted average useful life of approximately thirteen years. The following table summarizes the fair value and useful life of each intangible asset acquired as of the acquisition date:
Fair ValueUseful Life
(in years)
Identifiable intangible assets
Customer relationships$32,800 15
Staffing database4,200 5
Tradenames and trademarks3,200 5
$40,200 
Synzi and SnapMD Acquisition
On April 7, 2021, the Company completed its acquisition of Synzi Holdings, Inc. (“Synzi”) and its wholly-owned subsidiary, SnapMD, LLC (“SnapMD”). Synzi is a virtual care communication platform that enables organizations to conduct virtual visits and use secure messaging, text, and email for clinician-to-patient and clinician-to-clinician communications. SnapMD is a full-service virtual care management company, specializing in providing software to enable healthcare providers to better engage with their patients. The initial purchase price of $42,240 consisted entirely of cash consideration paid upon acquisition. The acquisition was funded primarily through borrowings under the Company’s $400,000 senior secured revolving credit facility (the “Senior Credit Facility”). See additional information regarding the Senior Credit Facility in Part II, Item 8, “Financial Statements and Supplementary Data—Notes to Consolidated Financial Statements—Note (8), Notes Payable and Credit Agreement” of the 2021 Annual Report. The results of Synzi and SnapMD have been included in the Company’s technology and workforce solutions segment since the date of acquisition. During the second quarter of 2021, $92 was returned to the Company in respect of the final working capital settlement.
The allocation of the $42,148 purchase price, which was reduced by the final working capital settlement and was finalized during the second quarter of 2022, consisted of (1) $2,757 of fair value of tangible assets acquired, which included $884 cash received, (2) $275 of liabilities assumed, (3) $12,440 of identified intangible assets, and (4) $27,226 of goodwill, of which $6,044 is deductible for tax purposes. The fair value of intangible assets primarily includes $10,890 of developed technology and $1,220 of trademarks with a weighted average useful life of approximately seven years.

3. REVENUE RECOGNITION
8

Table of Contents
Revenue primarily consists of fees earned from the temporary staffing and permanent placement of healthcare professionals, executives, and leaders (clinical and operational). The Company also generates revenue from technology-enabled services, including language interpretation and vendor management systems, and talent planning and acquisition services, including recruitment process outsourcing. The Company recognizes revenue when control of its services is transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those services. Revenue from temporary staffing services is recognized as the services are rendered by clinical and non-clinical healthcare professionals. Under the Company’s managed services program (“MSP”) arrangements, the Company manages all or a part of a customer’s supplemental workforce needs utilizing its own network of healthcare professionals along with those of third-party subcontractors. Revenue and the related direct costs under MSP arrangements are recorded in accordance with the accounting guidance on reporting revenue gross as a principal versus net as an agent. When the Company uses subcontractors and acts as an agent, revenue is recorded net of the related subcontractor’s expense. Revenue from permanent placement and recruitment process outsourcing services is recognized as the services are rendered. Depending on the arrangement, the Company’s technology-enabled service revenue is recognized either as the services are rendered or ratably over the applicable arrangement’s service period.
The Company’s customers are primarily billed as services are rendered. Any fees billed in advance of being earned are recorded as deferred revenue. While payment terms vary by the type of customer and the services rendered, the term between invoicing and when payment is due is not significant.
The Company has elected to apply the following practical expedients and optional exemptions related to contract costs and revenue recognition:
Recognize incremental costs of obtaining a contract with amortization periods of one year or less as expense when incurred. These costs are recorded within selling, general and administrative expenses.
Recognize revenue in the amount of consideration that the Company has a right to invoice the customer if that amount corresponds directly with the value to the customer of the Company’s services completed to date.
Exemptions from disclosing the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts for which revenue is recognized in the amount of consideration that the Company has a right to invoice for services performed and (iii) contracts for which variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct service that forms part of a single performance obligation.
See Note (5), “Segment Information,” for additional information regarding the Company’s revenue disaggregated by service type.

4. NET INCOME PER COMMON SHARE
Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the reporting period. The following table sets forth the computation of basic and diluted net income per common share:
 Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Net income$123,800 $66,770 $269,808 $137,148 
Net income per common share - basic $2.78 $1.40 $5.90 $2.88 
Net income per common share - diluted $2.77 $1.39 $5.87 $2.86 
Weighted average common shares outstanding - basic44,504 47,659 45,702 47,629 
Plus dilutive effect of potential common shares236 360 270 347 
Weighted average common shares outstanding - diluted44,740 48,019 45,972 47,976 
Share-based awards to purchase 60 and 48 shares of common stock were not included in the above calculation of diluted net income per common share for the three and six months ended June 30, 2022, respectively, because the effect of these instruments was anti-dilutive. Share-based awards to purchase 4 and 24 shares of common stock were not included in the above calculation of diluted net income per common share for the three and six months ended June 30, 2021, respectively, because the effect of these instruments was anti-dilutive.

9

Table of Contents
5. SEGMENT INFORMATION
The Company’s operating segments are identified in the same manner as they are reported internally and used by the Company’s chief operating decision maker for the purpose of evaluating performance and allocating resources. The Company has three reportable segments: (1) nurse and allied solutions, (2) physician and leadership solutions, and (3) technology and workforce solutions. The nurse and allied solutions segment includes the Company’s travel nurse staffing (including international nurse staffing and rapid response nurse staffing), labor disruption staffing, local staffing, international nurse and allied permanent placement, allied staffing and revenue cycle solutions businesses. The physician and leadership solutions segment includes the Company’s locum tenens staffing, healthcare interim leadership staffing, executive search, and physician permanent placement businesses. The technology and workforce solutions segment includes the Company’s language services, vendor management systems, workforce optimization, virtual care, credentialing solutions, and outsourced solutions businesses.
The Company’s chief operating decision maker relies on internal management reporting processes that provide revenue and operating income by reportable segment for making financial decisions and allocating resources. Segment operating income represents income before income taxes plus depreciation, amortization of intangible assets, share-based compensation, interest expense, net, and other, and unallocated corporate overhead. The Company’s management does not evaluate, manage or measure performance of segments using asset information; accordingly, asset information by segment is not prepared or disclosed.

The following table provides a reconciliation of revenue and operating income by reportable segment to consolidated results and was derived from each segment’s internal financial information as used for corporate management purposes:
 Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Revenue
Nurse and allied solutions$1,101,478 $624,485 $2,329,517 $1,281,146 
Physician and leadership solutions175,697 139,104 355,203 279,860 
Technology and workforce solutions149,432 93,856 294,425 182,384 
$1,426,607 $857,445 $2,979,145 $1,743,390 
Segment operating income
Nurse and allied solutions$160,870 $89,674 $355,959 $191,204 
Physician and leadership solutions19,995 21,849 40,376 43,065 
Technology and workforce solutions82,501 42,653 161,381 84,742 
263,366 154,176 557,716 319,011 
Unallocated corporate overhead38,073 23,627 81,721 51,048 
Depreciation and amortization32,274 24,740 62,930 47,994 
Depreciation (included in cost of revenue)973 616 1,827 1,087 
Share-based compensation8,513 6,019 19,772 15,306 
Interest expense, net, and other10,080 10,111 19,669 19,055 
Income before income taxes$173,453 $89,063 $371,797 $184,521 

10

Table of Contents
The following tables present the Company’s revenue disaggregated by service type. Prior period amounts have been reclassified to conform with current period presentation. These reclassifications have no impact on total revenue by reportable segment.
Three Months Ended June 30, 2022
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Travel nurse staffing$775,668 $ $ $775,668 
Labor disruption services83,070   83,070 
Local staffing33,394   33,394 
Allied staffing207,309   207,309 
Locum tenens staffing 105,936  105,936 
Interim leadership staffing 47,606  47,606 
Temporary staffing1,099,441 153,542  1,252,983 
Permanent placement2,037 22,155  24,192 
Language services  53,291 53,291 
Vendor management systems  75,144 75,144 
Other technologies  6,839 6,839 
Technology-enabled services  135,274 135,274 
Talent planning and acquisition  14,158 14,158 
Total revenue$1,101,478 $175,697 $149,432 $1,426,607 
Three Months Ended June 30, 2021
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Travel nurse staffing$457,551 $ $ $457,551 
Labor disruption services1,934   1,934 
Local staffing29,975   29,975 
Allied staffing135,025   135,025 
Locum tenens staffing 77,841  77,841 
Interim leadership staffing 43,911  43,911 
Temporary staffing624,485 121,752