amn-20230930
000114275012/312023Q3false00011427502023-01-012023-09-3000011427502023-11-01xbrli:shares00011427502023-09-30iso4217:USD00011427502022-12-31iso4217:USDxbrli:shares00011427502023-07-012023-09-3000011427502022-07-012022-09-3000011427502022-01-012022-09-300001142750us-gaap:CommonStockMember2021-12-310001142750us-gaap:AdditionalPaidInCapitalMember2021-12-310001142750us-gaap:TreasuryStockCommonMember2021-12-310001142750us-gaap:RetainedEarningsMember2021-12-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-3100011427502021-12-310001142750us-gaap:TreasuryStockCommonMember2022-01-012022-03-3100011427502022-01-012022-03-310001142750us-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:TreasuryStockCommonMember2022-03-310001142750us-gaap:RetainedEarningsMember2022-03-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-3100011427502022-03-310001142750us-gaap:TreasuryStockCommonMember2022-04-012022-06-3000011427502022-04-012022-06-300001142750us-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:TreasuryStockCommonMember2022-06-300001142750us-gaap:RetainedEarningsMember2022-06-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-3000011427502022-06-300001142750us-gaap:CommonStockMember2022-07-012022-09-300001142750us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300001142750us-gaap:RetainedEarningsMember2022-07-012022-09-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300001142750us-gaap:CommonStockMember2022-09-300001142750us-gaap:AdditionalPaidInCapitalMember2022-09-300001142750us-gaap:TreasuryStockCommonMember2022-09-300001142750us-gaap:RetainedEarningsMember2022-09-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-3000011427502022-09-300001142750us-gaap:CommonStockMember2022-12-310001142750us-gaap:AdditionalPaidInCapitalMember2022-12-310001142750us-gaap:TreasuryStockCommonMember2022-12-310001142750us-gaap:RetainedEarningsMember2022-12-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001142750us-gaap:TreasuryStockCommonMember2023-01-012023-03-3100011427502023-01-012023-03-310001142750us-gaap:CommonStockMember2023-01-012023-03-310001142750us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310001142750us-gaap:RetainedEarningsMember2023-01-012023-03-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310001142750us-gaap:CommonStockMember2023-03-310001142750us-gaap:AdditionalPaidInCapitalMember2023-03-310001142750us-gaap:TreasuryStockCommonMember2023-03-310001142750us-gaap:RetainedEarningsMember2023-03-310001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-3100011427502023-03-310001142750us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300001142750us-gaap:TreasuryStockCommonMember2023-04-012023-06-3000011427502023-04-012023-06-300001142750us-gaap:CommonStockMember2023-04-012023-06-300001142750us-gaap:RetainedEarningsMember2023-04-012023-06-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300001142750us-gaap:CommonStockMember2023-06-300001142750us-gaap:AdditionalPaidInCapitalMember2023-06-300001142750us-gaap:TreasuryStockCommonMember2023-06-300001142750us-gaap:RetainedEarningsMember2023-06-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-3000011427502023-06-300001142750us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300001142750us-gaap:TreasuryStockCommonMember2023-07-012023-09-300001142750us-gaap:CommonStockMember2023-07-012023-09-300001142750us-gaap:RetainedEarningsMember2023-07-012023-09-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300001142750us-gaap:CommonStockMember2023-09-300001142750us-gaap:AdditionalPaidInCapitalMember2023-09-300001142750us-gaap:TreasuryStockCommonMember2023-09-300001142750us-gaap:RetainedEarningsMember2023-09-300001142750us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300001142750amn:ConneticsCommunicationsLLCMember2022-05-132022-05-130001142750amn:ConneticsCommunicationsLLCMember2022-05-130001142750amn:ConneticsCommunicationsLLCMember2023-07-012023-09-300001142750amn:ConneticsCommunicationsLLCMember2022-10-012022-12-310001142750amn:ConneticsCommunicationsLLCMember2023-04-012023-06-300001142750amn:ConneticsCommunicationsLLCMember2023-06-300001142750amn:ConneticsCommunicationsLLCMemberus-gaap:CustomerRelationshipsMember2022-05-130001142750amn:ConneticsCommunicationsLLCMemberamn:StaffingDatabaseMember2022-05-130001142750amn:ConneticsCommunicationsLLCMemberus-gaap:TrademarksAndTradeNamesMember2022-05-130001142750amn:AcceleratedShareRepurchaseAgreementMember2023-05-080001142750amn:AcceleratedShareRepurchaseAgreementMember2023-05-082023-05-08xbrli:pure0001142750amn:AcceleratedShareRepurchaseAgreementMember2023-08-102023-08-100001142750amn:AcceleratedShareRepurchaseAgreementMember2023-05-082023-08-10amn:segment0001142750amn:NurseAndAlliedHealthcareStaffingMemberus-gaap:OperatingSegmentsMember2023-07-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberus-gaap:OperatingSegmentsMember2023-01-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberus-gaap:OperatingSegmentsMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberus-gaap:OperatingSegmentsMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberus-gaap:OperatingSegmentsMember2023-07-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberus-gaap:OperatingSegmentsMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001142750us-gaap:OperatingSegmentsMember2023-07-012023-09-300001142750us-gaap:OperatingSegmentsMember2022-07-012022-09-300001142750us-gaap:OperatingSegmentsMember2023-01-012023-09-300001142750us-gaap:OperatingSegmentsMember2022-01-012022-09-300001142750us-gaap:CorporateNonSegmentMember2023-07-012023-09-300001142750us-gaap:CorporateNonSegmentMember2022-07-012022-09-300001142750us-gaap:CorporateNonSegmentMember2023-01-012023-09-300001142750us-gaap:CorporateNonSegmentMember2022-01-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMember2022-12-310001142750amn:PhysicianAndLeadershipSolutionsMember2022-12-310001142750amn:TechnologyAndWorkforceSolutionsMember2022-12-310001142750amn:ConneticsCommunicationsLLCMemberamn:NurseAndAlliedHealthcareStaffingMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:ConneticsCommunicationsLLCMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:ConneticsCommunicationsLLCMember2023-01-012023-09-300001142750amn:ConneticsCommunicationsLLCMember2023-01-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMember2023-09-300001142750amn:PhysicianAndLeadershipSolutionsMember2023-09-300001142750amn:TechnologyAndWorkforceSolutionsMember2023-09-300001142750amn:TravelNurseStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2023-07-012023-09-300001142750amn:TravelNurseStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2023-07-012023-09-300001142750amn:TravelNurseStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2023-07-012023-09-300001142750amn:TravelNurseStaffingMember2023-07-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:LaborDisruptionServicesMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LaborDisruptionServicesMember2023-07-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LaborDisruptionServicesMember2023-07-012023-09-300001142750amn:LaborDisruptionServicesMember2023-07-012023-09-300001142750amn:LocalStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LocalStaffingMember2023-07-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LocalStaffingMember2023-07-012023-09-300001142750amn:LocalStaffingMember2023-07-012023-09-300001142750amn:AlliedStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:AlliedStaffingMember2023-07-012023-09-300001142750amn:AlliedStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2023-07-012023-09-300001142750amn:AlliedStaffingMember2023-07-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:LocalTenensStaffingMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LocalTenensStaffingMember2023-07-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LocalTenensStaffingMember2023-07-012023-09-300001142750amn:LocalTenensStaffingMember2023-07-012023-09-300001142750amn:InterimLeadershipStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2023-07-012023-09-300001142750amn:InterimLeadershipStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2023-07-012023-09-300001142750amn:InterimLeadershipStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2023-07-012023-09-300001142750amn:InterimLeadershipStaffingMember2023-07-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:TemporaryStaffingMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TemporaryStaffingMember2023-07-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TemporaryStaffingMember2023-07-012023-09-300001142750amn:TemporaryStaffingMember2023-07-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:PermanentPlacementMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:PermanentPlacementMember2023-07-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:PermanentPlacementMember2023-07-012023-09-300001142750amn:PermanentPlacementMember2023-07-012023-09-300001142750amn:LanguageServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LanguageServicesMember2023-07-012023-09-300001142750amn:LanguageServicesMemberamn:TechnologyAndWorkforceSolutionsMember2023-07-012023-09-300001142750amn:LanguageServicesMember2023-07-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:VendorManagementSystemsMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:VendorManagementSystemsMember2023-07-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:VendorManagementSystemsMember2023-07-012023-09-300001142750amn:VendorManagementSystemsMember2023-07-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:OtherTechnologyMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:OtherTechnologyMember2023-07-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:OtherTechnologyMember2023-07-012023-09-300001142750amn:OtherTechnologyMember2023-07-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:TechnologyEnabledServicesMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TechnologyEnabledServicesMember2023-07-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TechnologyEnabledServicesMember2023-07-012023-09-300001142750amn:TechnologyEnabledServicesMember2023-07-012023-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:NurseAndAlliedHealthcareStaffingMember2023-07-012023-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:PhysicianAndLeadershipSolutionsMember2023-07-012023-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:TechnologyAndWorkforceSolutionsMember2023-07-012023-09-300001142750amn:TalentPlanningAndAcquisitionsMember2023-07-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMember2023-07-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMember2023-07-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMember2023-07-012023-09-300001142750amn:TravelNurseStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-07-012022-09-300001142750amn:TravelNurseStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-07-012022-09-300001142750amn:TravelNurseStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-07-012022-09-300001142750amn:TravelNurseStaffingMember2022-07-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:LaborDisruptionServicesMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LaborDisruptionServicesMember2022-07-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LaborDisruptionServicesMember2022-07-012022-09-300001142750amn:LaborDisruptionServicesMember2022-07-012022-09-300001142750amn:LocalStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LocalStaffingMember2022-07-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LocalStaffingMember2022-07-012022-09-300001142750amn:LocalStaffingMember2022-07-012022-09-300001142750amn:AlliedStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:AlliedStaffingMember2022-07-012022-09-300001142750amn:AlliedStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-07-012022-09-300001142750amn:AlliedStaffingMember2022-07-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:LocalTenensStaffingMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LocalTenensStaffingMember2022-07-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LocalTenensStaffingMember2022-07-012022-09-300001142750amn:LocalTenensStaffingMember2022-07-012022-09-300001142750amn:InterimLeadershipStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-07-012022-09-300001142750amn:InterimLeadershipStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-07-012022-09-300001142750amn:InterimLeadershipStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-07-012022-09-300001142750amn:InterimLeadershipStaffingMember2022-07-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:TemporaryStaffingMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TemporaryStaffingMember2022-07-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TemporaryStaffingMember2022-07-012022-09-300001142750amn:TemporaryStaffingMember2022-07-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:PermanentPlacementMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:PermanentPlacementMember2022-07-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:PermanentPlacementMember2022-07-012022-09-300001142750amn:PermanentPlacementMember2022-07-012022-09-300001142750amn:LanguageServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LanguageServicesMember2022-07-012022-09-300001142750amn:LanguageServicesMemberamn:TechnologyAndWorkforceSolutionsMember2022-07-012022-09-300001142750amn:LanguageServicesMember2022-07-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:VendorManagementSystemsMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:VendorManagementSystemsMember2022-07-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:VendorManagementSystemsMember2022-07-012022-09-300001142750amn:VendorManagementSystemsMember2022-07-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:OtherTechnologyMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:OtherTechnologyMember2022-07-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:OtherTechnologyMember2022-07-012022-09-300001142750amn:OtherTechnologyMember2022-07-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:TechnologyEnabledServicesMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TechnologyEnabledServicesMember2022-07-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TechnologyEnabledServicesMember2022-07-012022-09-300001142750amn:TechnologyEnabledServicesMember2022-07-012022-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:NurseAndAlliedHealthcareStaffingMember2022-07-012022-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:PhysicianAndLeadershipSolutionsMember2022-07-012022-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:TechnologyAndWorkforceSolutionsMember2022-07-012022-09-300001142750amn:TalentPlanningAndAcquisitionsMember2022-07-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMember2022-07-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMember2022-07-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMember2022-07-012022-09-300001142750amn:TravelNurseStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2023-01-012023-09-300001142750amn:TravelNurseStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2023-01-012023-09-300001142750amn:TravelNurseStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2023-01-012023-09-300001142750amn:TravelNurseStaffingMember2023-01-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:LaborDisruptionServicesMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LaborDisruptionServicesMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LaborDisruptionServicesMember2023-01-012023-09-300001142750amn:LaborDisruptionServicesMember2023-01-012023-09-300001142750amn:LocalStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LocalStaffingMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LocalStaffingMember2023-01-012023-09-300001142750amn:LocalStaffingMember2023-01-012023-09-300001142750amn:AlliedStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:AlliedStaffingMember2023-01-012023-09-300001142750amn:AlliedStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2023-01-012023-09-300001142750amn:AlliedStaffingMember2023-01-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:LocalTenensStaffingMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LocalTenensStaffingMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LocalTenensStaffingMember2023-01-012023-09-300001142750amn:LocalTenensStaffingMember2023-01-012023-09-300001142750amn:InterimLeadershipStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2023-01-012023-09-300001142750amn:InterimLeadershipStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2023-01-012023-09-300001142750amn:InterimLeadershipStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2023-01-012023-09-300001142750amn:InterimLeadershipStaffingMember2023-01-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:TemporaryStaffingMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TemporaryStaffingMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TemporaryStaffingMember2023-01-012023-09-300001142750amn:TemporaryStaffingMember2023-01-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:PermanentPlacementMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:PermanentPlacementMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:PermanentPlacementMember2023-01-012023-09-300001142750amn:PermanentPlacementMember2023-01-012023-09-300001142750amn:LanguageServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LanguageServicesMember2023-01-012023-09-300001142750amn:LanguageServicesMemberamn:TechnologyAndWorkforceSolutionsMember2023-01-012023-09-300001142750amn:LanguageServicesMember2023-01-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:VendorManagementSystemsMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:VendorManagementSystemsMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:VendorManagementSystemsMember2023-01-012023-09-300001142750amn:VendorManagementSystemsMember2023-01-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:OtherTechnologyMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:OtherTechnologyMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:OtherTechnologyMember2023-01-012023-09-300001142750amn:OtherTechnologyMember2023-01-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:TechnologyEnabledServicesMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TechnologyEnabledServicesMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TechnologyEnabledServicesMember2023-01-012023-09-300001142750amn:TechnologyEnabledServicesMember2023-01-012023-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:NurseAndAlliedHealthcareStaffingMember2023-01-012023-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:PhysicianAndLeadershipSolutionsMember2023-01-012023-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:TechnologyAndWorkforceSolutionsMember2023-01-012023-09-300001142750amn:TalentPlanningAndAcquisitionsMember2023-01-012023-09-300001142750amn:NurseAndAlliedHealthcareStaffingMember2023-01-012023-09-300001142750amn:PhysicianAndLeadershipSolutionsMember2023-01-012023-09-300001142750amn:TechnologyAndWorkforceSolutionsMember2023-01-012023-09-300001142750amn:TravelNurseStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-09-300001142750amn:TravelNurseStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-09-300001142750amn:TravelNurseStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-09-300001142750amn:TravelNurseStaffingMember2022-01-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:LaborDisruptionServicesMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LaborDisruptionServicesMember2022-01-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LaborDisruptionServicesMember2022-01-012022-09-300001142750amn:LaborDisruptionServicesMember2022-01-012022-09-300001142750amn:LocalStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LocalStaffingMember2022-01-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LocalStaffingMember2022-01-012022-09-300001142750amn:LocalStaffingMember2022-01-012022-09-300001142750amn:AlliedStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:AlliedStaffingMember2022-01-012022-09-300001142750amn:AlliedStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-09-300001142750amn:AlliedStaffingMember2022-01-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:LocalTenensStaffingMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LocalTenensStaffingMember2022-01-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:LocalTenensStaffingMember2022-01-012022-09-300001142750amn:LocalTenensStaffingMember2022-01-012022-09-300001142750amn:InterimLeadershipStaffingMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-09-300001142750amn:InterimLeadershipStaffingMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-09-300001142750amn:InterimLeadershipStaffingMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-09-300001142750amn:InterimLeadershipStaffingMember2022-01-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:TemporaryStaffingMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TemporaryStaffingMember2022-01-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TemporaryStaffingMember2022-01-012022-09-300001142750amn:TemporaryStaffingMember2022-01-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:PermanentPlacementMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:PermanentPlacementMember2022-01-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:PermanentPlacementMember2022-01-012022-09-300001142750amn:PermanentPlacementMember2022-01-012022-09-300001142750amn:LanguageServicesMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:LanguageServicesMember2022-01-012022-09-300001142750amn:LanguageServicesMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-09-300001142750amn:LanguageServicesMember2022-01-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:VendorManagementSystemsMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:VendorManagementSystemsMember2022-01-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:VendorManagementSystemsMember2022-01-012022-09-300001142750amn:VendorManagementSystemsMember2022-01-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:OtherTechnologyMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:OtherTechnologyMember2022-01-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:OtherTechnologyMember2022-01-012022-09-300001142750amn:OtherTechnologyMember2022-01-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMemberamn:TechnologyEnabledServicesMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMemberamn:TechnologyEnabledServicesMember2022-01-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMemberamn:TechnologyEnabledServicesMember2022-01-012022-09-300001142750amn:TechnologyEnabledServicesMember2022-01-012022-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:PhysicianAndLeadershipSolutionsMember2022-01-012022-09-300001142750amn:TalentPlanningAndAcquisitionsMemberamn:TechnologyAndWorkforceSolutionsMember2022-01-012022-09-300001142750amn:TalentPlanningAndAcquisitionsMember2022-01-012022-09-300001142750amn:NurseAndAlliedHealthcareStaffingMember2022-01-012022-09-300001142750amn:PhysicianAndLeadershipSolutionsMember2022-01-012022-09-300001142750amn:TechnologyAndWorkforceSolutionsMember2022-01-012022-09-300001142750us-gaap:LineOfCreditMemberus-gaap:LetterOfCreditMember2023-02-100001142750us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPaperMemberamn:RestrictedCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPaperMemberamn:RestrictedCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:FairValueInputsLevel2Memberamn:RestrictedCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2023-09-300001142750us-gaap:FairValueInputsLevel2Memberamn:RestrictedCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2022-12-310001142750us-gaap:FairValueInputsLevel2Memberamn:RestrictedCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:FairValueInputsLevel2Memberamn:RestrictedCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:FairValueInputsLevel2Memberamn:RestrictedInvestmentsMemberus-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:FairValueInputsLevel2Memberamn:RestrictedInvestmentsMemberus-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:FairValueInputsLevel2Memberamn:RestrictedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2023-09-300001142750us-gaap:FairValueInputsLevel2Memberamn:RestrictedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2022-12-310001142750us-gaap:FairValueInputsLevel2Memberamn:RestrictedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:FairValueInputsLevel2Memberamn:RestrictedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-09-300001142750us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001142750us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:FairValueInputsLevel1Memberamn:DeferredCompensationMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:FairValueInputsLevel2Memberamn:DeferredCompensationMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750amn:DeferredCompensationMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-09-300001142750amn:DeferredCompensationMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:FairValueInputsLevel1Memberamn:DeferredCompensationMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:FairValueInputsLevel2Memberamn:DeferredCompensationMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750amn:DeferredCompensationMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001142750amn:DeferredCompensationMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-09-300001142750us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001142750us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:FairValueInputsLevel1Memberus-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-09-300001142750us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300001142750us-gaap:FairValueInputsLevel1Memberus-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001142750us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001142750us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberamn:ContingentConsiderationMember2023-09-300001142750us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberamn:ContingentConsiderationMember2023-09-300001142750us-gaap:FairValueMeasurementsRecurringMemberamn:ContingentConsiderationMemberus-gaap:FairValueInputsLevel3Member2023-09-300001142750us-gaap:FairValueMeasurementsRecurringMemberamn:ContingentConsiderationMember2023-09-300001142750us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberamn:ContingentConsiderationMember2022-12-310001142750us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberamn:ContingentConsiderationMember2022-12-310001142750us-gaap:FairValueMeasurementsRecurringMemberamn:ContingentConsiderationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001142750us-gaap:FairValueMeasurementsRecurringMemberamn:ContingentConsiderationMember2022-12-310001142750us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-09-300001142750us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-12-310001142750us-gaap:SeniorNotesMemberamn:A4.625SeniorNotesDue2027Member2020-08-130001142750amn:A4000SeniorNotesDue2029Memberus-gaap:SeniorNotesMember2020-10-200001142750us-gaap:SeniorNotesMemberamn:A4.625SeniorNotesDue2027Member2023-09-300001142750us-gaap:SeniorNotesMemberamn:A4.625SeniorNotesDue2027Member2022-12-310001142750amn:A4000SeniorNotesDue2029Memberus-gaap:SeniorNotesMember2023-09-300001142750amn:A4000SeniorNotesDue2029Memberus-gaap:SeniorNotesMember2022-12-310001142750amn:WageAndHourClaimsMemberus-gaap:PendingLitigationMember2023-09-300001142750srt:OfficeBuildingMember2022-03-310001142750srt:OfficeBuildingMember2023-06-300001142750us-gaap:SubsequentEventMemberamn:MedicalSearchInternationalAndDrWantedHealthcareStaffingMember2023-10-23amn:company0001142750us-gaap:SubsequentEventMemberamn:MedicalSearchInternationalAndDrWantedHealthcareStaffingMember2023-10-232023-10-23


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 September 30, 2023
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/086c014d1552f3b4de0c44653d4d0e90-Cover page photo.10Q.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.)
2999 Olympus BoulevardSuite 500
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 November 1, 2023, there were 37,789,140 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)
September 30, 2023December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents$29,377 $64,524 
Accounts receivable, net of allowances of $34,426 and $31,910 at September 30, 2023 and December 31, 2022, respectively
565,724 675,650 
Accounts receivable, subcontractor175,976 268,726 
Prepaid expenses18,364 18,708 
Other current assets41,679 66,037 
Total current assets831,120 1,093,645 
Restricted cash, cash equivalents and investments69,995 61,218 
Fixed assets, net of accumulated depreciation of $268,131 and $227,617 at September 30, 2023 and December 31, 2022, respectively
187,557 149,276 
Other assets220,512 172,016 
Goodwill935,779 935,364 
Intangible assets, net of accumulated amortization of $423,780 and $361,327 at September 30, 2023 and December 31, 2022, respectively
409,803 476,832 
Total assets$2,654,766 $2,888,351 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses$362,907 $476,452 
Accrued compensation and benefits263,697 333,244 
Other current liabilities80,522 48,237 
Total current liabilities707,126 857,933 
Revolving credit facility95,000  
Notes payable, net of unamortized fees and premium844,393 843,505 
Deferred income taxes, net31,296 22,713 
Other long-term liabilities159,782 120,566 
Total liabilities1,837,597 1,844,717 
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; 10,000 shares authorized; none issued and outstanding at September 30, 2023 and December 31, 2022
  
Common stock, $0.01 par value; 200,000 shares authorized; 50,387 issued and 37,774 outstanding at September 30, 2023 and 50,109 issued and 41,879 outstanding at December 31, 2022
504 501 
Additional paid-in capital505,170 501,674 
Treasury stock, at cost; 12,613 and 8,230 shares at September 30, 2023 and December 31, 2022, respectively
(1,127,081)(698,598)
Retained earnings1,439,186 1,240,996 
Accumulated other comprehensive loss(610)(939)
Total stockholders’ equity817,169 1,043,634 
Total liabilities and stockholders’ equity$2,654,766 $2,888,351 

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 September 30,Nine Months Ended September 30,
 2023202220232022
Revenue$853,463 $1,138,586 $2,970,985 $4,117,731 
Cost of revenue563,957 753,560 1,982,352 2,776,300 
Gross profit289,506 385,026 988,633 1,341,431 
Operating expenses:
Selling, general and administrative163,405 215,419 570,775 717,428 
Depreciation and amortization (exclusive of depreciation included in cost of revenue)39,175 33,239 113,599 96,169 
Total operating expenses202,580 248,658 684,374 813,597 
Income from operations86,926 136,368 304,259 527,834 
Interest expense, net, and other11,541 8,961 33,975 28,630 
Income before income taxes75,385 127,407 270,284 499,204 
Income tax expense22,211 34,962 72,094 136,951 
Net income$53,174 $92,445 $198,190 $362,253 
Other comprehensive income (loss):
Unrealized gains (losses) on available-for-sale securities, net, and other133 (219)329 (794)
Other comprehensive income (loss)133 (219)329 (794)
Comprehensive income$53,307 $92,226 $198,519 $361,459 
Net income per common share:
Basic$1.39 $2.11 $5.01 $8.04 
Diluted$1.39 $2.10 $4.99 $7.99 
Weighted average common shares outstanding:
Basic38,147 43,785 39,547 45,056 
Diluted38,325 44,039 39,734 45,332 
 
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 LossTotal
 SharesAmountSharesAmount
Balance, December 31, 202149,849 $498 $486,709 (2,586)$(121,831)$796,946 $(295)$1,162,027 
Repurchase of common stock— — — (2,298)(228,024)— — (228,024)
Equity awards vested, net of shares withheld for 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— — — (1,876)(173,867)— — (173,867)
Equity awards vested, net of shares withheld for 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 
Equity awards vested, net of shares withheld for taxes55 1 (3,836)— — — — (3,835)
Share-based compensation— — 4,898 — — — — 4,898 
Comprehensive income (loss)— — — — — 92,445 (219)92,226 
Balance, September 30, 202250,087 $501 $497,744 (6,760)$(523,722)$1,159,199 $(1,089)$1,132,633 


 Common StockAdditional
Paid-in
Capital
Treasury StockRetained EarningsAccumulated Other Comprehensive LossTotal
 SharesAmountSharesAmount
Balance, December 31, 202250,109 $501 $501,674 (8,230)$(698,598)$1,240,996 $(939)$1,043,634 
Repurchase of common stock— — — (1,768)(176,300)— — (176,300)
Equity awards vested, net of shares withheld for taxes127 1 (6,135)— — — — (6,134)
Share-based compensation— — 10,318 — — — — 10,318 
Comprehensive income— — — — — 84,110 146 84,256 
Balance, March 31, 202350,236 $502 $505,857 (9,998)$(874,898)$1,325,106 $(793)$955,774 
Repurchase of common stock— — (40,000)(2,354)(211,964)— — (251,964)
Equity awards vested, net of shares withheld for taxes103 1 (3,288)— — — — (3,287)
Share-based compensation— — 4,818 — — — — 4,818 
Comprehensive income— — — — — 60,906 50 60,956 
Balance, June 30, 202350,339 $503 $467,387 (12,352)$(1,086,862)$1,386,012 $(743)$766,297 
Repurchase of common stock
— — 40,000 (261)(40,219)— — (219)
Equity awards vested, net of shares withheld for taxes48 1 (2,523)— — — — (2,522)
Share-based compensation— — 306 — — — — 306 
Comprehensive income— — — — — 53,174 133 53,307 
Balance, September 30, 202350,387 $504 $505,170 (12,613)$(1,127,081)$1,439,186 $(610)$817,169 

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)
 
Nine Months Ended September 30,
 
20232022
Cash flows from operating activities:
Net income$198,190 $362,253 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (inclusive of depreciation included in cost of revenue)117,795 99,087 
Non-cash interest expense and other1,587 1,427 
Change in fair value of contingent consideration liabilities2,430 (1,190)
Increase in allowance for credit losses and sales credits31,968 22,199 
Provision for deferred income taxes8,495 (5,364)
Share-based compensation15,442 24,670 
Loss on disposal or impairment of long-lived assets1,793 571 
Net loss on investments in available-for-sale securities228 652 
Net gain on deferred compensation balances(300)(1,324)
Non-cash lease expense1,146 4,818 
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable77,572 44,532 
Accounts receivable, subcontractor92,750 (14,235)
Income taxes receivable8,875 (1,426)
Prepaid expenses344 55,495 
Other current assets3,793 12,399 
Other assets(1,103)(608)
Accounts payable and accrued expenses(122,763)31,855 
Accrued compensation and benefits(78,290)2,937 
Other liabilities52,503 (99,534)
Deferred revenue840 (809)
Net cash provided by operating activities413,295 538,405 
Cash flows from investing activities:
Purchase and development of fixed assets(73,831)(51,229)
Purchase of investments (13,152)
Proceeds from sale and maturity of investments9,894 12,549 
Proceeds from sale of equity investment77 68 
Payments to fund deferred compensation plan(24,902)(21,411)
Cash paid for acquisitions, net of cash and restricted cash received (69,801)
Cash paid for other intangibles (5,091)
Net cash used in investing activities(88,762)(148,067)
4

Table of Contents
 
Nine Months Ended September 30,
 
20232022
Cash flows from financing activities:
Payments on revolving credit facility(330,000) 
Proceeds from revolving credit facility425,000  
Repurchase of common stock (1)
(424,744)(401,891)
Payment of financing costs(3,579) 
Earn-out payments to settle contingent consideration liabilities for prior acquisitions(7,500) 
Cash paid for shares withheld for taxes(11,943)(13,632)
Net cash used in financing activities(352,766)(415,523)
Net decrease in cash, cash equivalents and restricted cash(28,233)(25,185)
Cash, cash equivalents and restricted cash at beginning of period137,872 246,714 
Cash, cash equivalents and restricted cash at end of period$109,639 $221,529 
Supplemental disclosures of cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities$6,891 $10,700 
Cash paid for interest (net of $1,026 and $452 capitalized for the nine months ended September 30, 2023 and 2022, respectively)
$25,087 $18,950 
Cash paid for income taxes$10,833 $164,757 
Acquisitions:
Fair value of tangible assets acquired in acquisitions, net of cash and restricted cash received$ $2,731 
Goodwill 43,301 
Intangible assets 40,200 
Liabilities assumed (8,431)
Contingent consideration liabilities (8,000)
Net cash paid for acquisitions$ $69,801 
Supplemental disclosures of non-cash investing and financing activities:
Purchase of fixed assets recorded in accounts payable and accrued expenses$14,841 $5,187 
Excise tax payable on share repurchases$3,739 $ 
Right-of-use assets obtained in exchange for operating lease liabilities$25,794 $5,017 
(1) The difference between the amount reported for the nine months ended September 30, 2023 and the corresponding amounts presented in the condensed consolidated statements of stockholders’ equity is due to accrued excise tax payable on share repurchases recorded within treasury stock.

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, stockholders’ equity 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, 2022, contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Securities and Exchange Commission on February 22, 2023 (the “2022 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.
Recently Adopted Accounting Pronouncements
In October 2021, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” The new guidance requires companies to apply the definition of a performance obligation under Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers, to recognize and measure contract assets and contract liabilities, such as deferred revenue, relating to contracts with customers that are acquired in a business combination. Under prior guidance, an acquirer generally recognized assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at their acquisition-date fair values in accordance with ASC Subtopic 820-10, Fair Value Measurements—Overall. Generally, this new guidance will result in the acquirer recognizing acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree prior to the acquisition under ASC Topic 606. The Company adopted this standard effective January 1, 2023 on a prospective basis, and the adoption did not have a material effect on the Company’s consolidated financial statements.
Cash, Cash Equivalents and Restricted Cash
The Company considers all highly liquid investments and restricted investments with an original maturity of three months or less to be cash equivalents and restricted cash equivalents, respectively. Cash and cash equivalents include currency on hand, deposits with financial institutions, money market funds 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 (7), “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.
6

Table of Contents
 September 30, 2023December 31, 2022
Cash and cash equivalents$29,377 $64,524 
Restricted cash and cash equivalents (included in other current assets)25,634 37,225 
Restricted cash, cash equivalents and investments69,995 61,218 
Total cash, cash equivalents and restricted cash and investments125,006 162,967 
Less restricted investments(15,367)(25,095)
Total cash, cash equivalents and restricted cash$109,639 $137,872 
The Company maintains its cash and restricted cash in bank deposit accounts primarily at large, national financial institutions, which typically exceed federally insured limits. The Company has not experienced any losses in such accounts.
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:
20232022
Balance as of January 1,$31,910 $6,838 
Provision for expected credit losses5,464 10,129 
Amounts written off charged against the allowance(2,948)(1,773)
Balance as of September 30,$34,426 $15,194 
Reclassifications
To conform to the current year presentation, certain reclassifications have been made to prior year balances in the condensed consolidated balance sheets and accompanying Note (10), “Balance Sheet Details.”
7

Table of Contents
2. ACQUISITIONS
The Company accounted for the acquisition set forth below 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 date of acquisition. The goodwill recognized for the acquisition 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. 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) contingent consideration (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, which resulted in a payment of $7,500 in the third quarter of 2023. The results of Connetics have been included in the Company’s nurse and allied solutions segment since the date of acquisition. During the fourth quarter of 2022, $231 was returned to the Company in respect of the final working capital settlement.
The allocation of the $78,533 purchase price, which was reduced by the final working capital settlement and was finalized during the second quarter of 2023, consisted of (1) $3,172 of fair value of tangible assets acquired, which included $963 cash received, (2) $8,244 of liabilities assumed, (3) $40,200 of identified intangible assets, and (4) $43,405 of goodwill, of which $42,905 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 

8

Table of Contents
3. REVENUE RECOGNITION
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.

9

Table of Contents
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 September 30,Nine Months Ended September 30,
 2023202220232022
Net income$53,174 $92,445 $198,190 $362,253 
Net income per common share - basic $1.39 $2.11 $5.01 $8.04 
Net income per common share - diluted $1.39 $2.10 $4.99 $7.99 
Weighted average common shares outstanding - basic38,147 43,785 39,547 45,056 
Plus dilutive effect of potential common shares178 254 187 276 
Weighted average common shares outstanding - diluted38,325 44,039 39,734 45,332 
Share-based awards to purchase 43 and 84 shares of common stock were not included in the above calculation of diluted net income per common share for the three and nine months ended September 30, 2023, respectively, because the effect of these instruments was anti-dilutive. Share-based awards to purchase 14 and 15 shares of common stock were not included in the above calculation of diluted net income per common share for the three and nine months ended September 30, 2022, respectively, because the effect of these instruments was anti-dilutive.
Accelerated Share Repurchase
On May 8, 2023, the Company entered into an accelerated share repurchase (“ASR”) agreement with a counterparty whereupon the Company prepaid $200,000 and received an initial delivery of 1,760 shares of its common stock, which was 80% of the prepayment amount based on a price of $90.89 per share. On August 10, 2023, the Company received a final delivery of approximately 261 additional shares of its common stock, representing the remaining 20% of the prepayment amount and final settlement of the ASR agreement. The total number of shares received and average price per share of $98.97 was based on the volume-weighted average price over the term of the ASR agreement, less an agreed upon discount.
During the second quarter of 2023, the prepayment was recognized as a reduction to stockholders’ equity, consisting of (1) an increase in treasury stock, which reflected the fair value of the shares received upon initial delivery, and (2) a reduction in additional paid-in capital, which reflected the pending settlement of the ASR agreement. The reduction in additional paid-in capital was reclassified to treasury stock during the three months ended September 30, 2023 upon final settlement.

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, 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:
10

Table of Contents
 Three Months Ended September 30,Nine Months Ended September 30,
 2023202220232022
Revenue
Nurse and allied solutions$573,426 $828,317 $2,086,921 $3,157,834 
Physician and leadership solutions159,554 175,152 501,540 530,355 
Technology and workforce solutions120,483 135,117 382,524 429,542 
$853,463 $1,138,586 $2,970,985 $4,117,731 
Segment operating income
Nurse and allied solutions$82,882 $115,182 $299,320 $471,141 
Physician and leadership solutions21,609 23,904 73,165 64,280 
Technology and workforce solutions50,664 71,145 173,297 232,526 
155,155 210,231 545,782 767,947 
Unallocated corporate overhead27,196 34,635 108,286 116,356 
Depreciation and amortization39,175 33,239 113,599 96,169 
Depreciation (included in cost of revenue)1,552 1,091 4,196 2,918 
Share-based compensation306 4,898 15,442 24,670 
Interest expense, net, and other11,541 8,961 33,975 28,630 
Income before income taxes$75,385 $127,407 $270,284 $499,204 

The following table summarizes the activity related to the carrying value of goodwill by reportable segment:
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Balance, January 1, 2023$382,005 $152,800 $400,559 $935,364 
Goodwill adjustment for Connetics acquisition415   415 
Balance, September 30, 2023$382,420 $152,800 $400,559 $935,779 
Accumulated impairment loss as of December 31, 2022 and September 30, 2023$154,444 $60,495 $ $214,939 

11

Table of Contents
Disaggregation of Revenue
The following tables present the Company’s revenue disaggregated by service type:
Three Months Ended September 30, 2023
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Travel nurse staffing$384,102 $ $ $384,102 
Labor disruption services777   777 
Local staffing16,991   16,991 
Allied staffing167,622   167,622 
Locum tenens staffing 112,514  112,514 
Interim leadership staffing 30,910  30,910 
Temporary staffing569,492 143,424  712,916 
Permanent placement3,934 16,130  20,064 
Language services  66,406 66,406 
Vendor management systems  38,116 38,116 
Other technologies  5,052 5,052 
Technology-enabled services  109,574 109,574 
Talent planning and acquisition  10,909 10,909 
Total revenue$573,426 $159,554 $120,483 $853,463 
Three Months Ended September 30, 2022
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Travel nurse staffing$583,463 $ $ $583,463 
Labor disruption services19,479   19,479 
Local staffing31,814   31,814 
Allied staffing190,044   190,044 
Locum tenens staffing 106,055  106,055 
Interim leadership staffing 47,559  47,559 
Temporary staffing824,800 153,614  978,414 
Permanent placement3,517 21,538  25,055 
Language services  55,502 55,502 
Vendor management systems  60,304 60,304 
Other technologies  7,290 7,290 
Technology-enabled services  123,096 123,096 
Talent planning and acquisition  12,021 12,021 
Total revenue$828,317 $175,152 $135,117 $1,138,586 
12

Table of Contents
Nine Months Ended September 30, 2023
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Travel nurse staffing$1,453,988 $ $ $1,453,988 
Labor disruption services11,515   11,515 
Local staffing61,038   61,038 
Allied staffing545,959   545,959 
Locum tenens staffing 341,129  341,129 
Interim leadership staffing 107,553  107,553 
Temporary staffing2,072,500 448,682  2,521,182 
Permanent placement14,421 52,858  67,279 
Language services  191,732 191,732 
Vendor management systems  138,843 138,843 
Other technologies  18,191 18,191 
Technology-enabled services  348,766 348,766 
Talent planning and acquisition  33,758 33,758 
Total revenue$2,086,921 $501,540 $382,524 $2,970,985 
Nine Months Ended September 30, 2022
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Travel nurse staffing$2,329,240 $ $ $2,329,240 
Labor disruption services102,549   102,549 
Local staffing109,265   109,265 
Allied staffing611,226   611,226 
Locum tenens staffing 324,663  324,663 
Interim leadership staffing 139,519  139,519 
Temporary staffing3,152,280 464,182  3,616,462 
Permanent placement5,554 66,173  71,727 
Language services  158,031 158,031 
Vendor management systems  210,470 210,470 
Other technologies  21,787 21,787 
Technology-enabled services  390,288 390,288 
Talent planning and acquisition  39,254 39,254 
Total revenue$3,157,834 $530,355 $429,542 $4,117,731 
13

Table of Contents
6. NOTES PAYABLE AND CREDIT AGREEMENT
On February 10, 2023, the Company entered into the third amendment to its credit agreement (the “Third Amendment”). The Third Amendment provides for, among other things, the following: (i) an extension of the maturity date of the secured revolving credit facility (the “Senior Credit Facility”) to February 10, 2028, (ii) an increase of the revolving commitments to $750,000, and (iii) a transition from LIBOR to a SOFR-based interest rate. The obligations of the Company under the amended credit agreement are secured by substantially all of the assets of the Company. Additional information regarding the credit agreement, Senior Credit Facility and Third Amendment is disclosed in Part II, Item 8, “Financial Statements and Supplementary Data—Notes to Consolidated Financial Statements—Note (8), Notes Payable and Credit Agreement” of the 2022 Annual Report.

7. FAIR VALUE MEASUREMENT
The Company’s valuation techniques and inputs used to measure fair value and the definition of the three levels (Level 1, Level 2, and Level 3) of the fair value hierarchy are disclosed in Part II, Item 8, “Financial Statements and Supplementary Data—Notes to Consolidated Financial Statements—Note (3), Fair Value Measurement” of the 2022 Annual Report. The Company has not changed the valuation techniques or inputs it uses for its fair value measurement during the nine months ended September 30, 2023.
Assets and Liabilities Measured on a Recurring Basis
The Company invests a portion of its cash and cash equivalents in non-federally insured money market funds that are measured at fair value based on quoted prices, which are Level 1 inputs.
The Company has a deferred compensation plan for certain executives and employees, which is composed of deferred compensation and all related income and losses attributable thereto. The Company’s obligation under its deferred compensation plan is measured at fair value based on quoted market prices of the participants’ elected investments, which are Level 1 inputs.
The Company’s restricted cash equivalents and investments that serve as collateral for the Company’s captive insurance company include commercial paper and corporate bonds. The commercial paper is measured at observable market prices for identical securities that are traded in less active markets, which are Level 2 inputs. The corporate bonds are measured using readily available pricing sources that utilize observable market data, including the current interest rate for comparable instruments, which are Level 2 inputs. The following table presents the fair value of commercial paper and corporate bonds issued and outstanding:
 As of September 30, 2023As of December 31, 2022
Commercial paper$47,618 $31,536 
Corporate bonds  
Total classified as restricted cash equivalents$47,618 $31,536 
Commercial paper$ $ 
Corporate bonds15,367 25,095 
Total classified as restricted investments$15,367 $25,095 
The Company’s contingent consideration liabilities associated with acquisitions are measured at fair value using a probability-weighted discounted cash flow analysis or a simulation-based methodology for the acquired companies, which are Level 3 inputs. The Company recognizes changes to the fair value of its contingent consideration liabilities in selling, general and administrative expenses in the condensed consolidated statements of comprehensive income.
The following table presents information about the above-referenced assets and liabilities and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value:
14

Table of Contents
 Fair Value Measurements as of September 30, 2023Fair Value Measurements as of December 31, 2022
Assets (Liabilities)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Money market funds$657 $ $ $657 $36,895 $ $ $36,895 
Deferred compensation(150,074)  (150,074)(128,465)  (128,465)
Corporate bonds 15,367  15,367  25,095  25,095 
Commercial paper 47,618  47,618  31,536  31,536 
Acquisition contingent consideration liabilities      (5,070)(5,070)
Assets Measured on a Non-Recurring Basis
The Company applies fair value techniques on a non-recurring basis associated with valuing potential impairment losses related to its goodwill, long-lived assets, and equity investments.
The Company evaluates goodwill and indefinite-lived intangible assets annually for impairment and whenever events or changes in circumstances indicate that it is more likely than not that an impairment exists. The Company determines the fair value of its reporting units based on a combination of inputs, including the market capitalization of the Company, as well as Level 3 inputs such as discounted cash flows, which are not observable from the market, directly or indirectly. The Company determines the fair value of its indefinite-lived intangible assets using the income approach (relief-from-royalty method) based on Level 3 inputs.
The Company’s equity investment represents an investment in a non-controlled corporation without a readily determinable market value. The Company has elected to measure the investment at cost minus impairment, if any, plus or minus changes resulting from observable price changes. The fair value is determined by using quoted prices for identical or similar investments of the same issuer, which are Level 2 inputs, and other information available to the Company such as the rights and obligations of the securities. The Company recognizes changes to the fair value of its equity investment in interest expense, net, and other in the condensed consolidated statements of comprehensive income. The balance of the equity investment was $