MultiPlan (MPLN) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 04, 2022
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-39228
Entity Registrant Name	MULTIPLAN CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3536151
Entity Address, Address Line One	115 Fifth Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10003
City Area Code	212
Local Phone Number	780-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		639,013,168
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001793229
Current Fiscal Year End Date	--12-31
Common Class A
Class of Stock [Line Items]
Title of 12(b) Security	Shares of Class A common stock, $0.0001 par value per share
Trading Symbol	MPLN
Security Exchange Name	NYSE
Warrants
Class of Stock [Line Items]
Title of 12(b) Security	Warrants
Trading Symbol	MPLN.WS
Security Exchange Name	NYSE

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 350,830,000	$ 185,328,000
Restricted cash	2,958,000	3,051,000
Trade accounts receivable, net	78,206,000	99,905,000
Prepaid expenses	21,872,000	24,910,000
Prepaid taxes	0	5,064,000
Other current assets, net	909,000	999,000
Total current assets	454,775,000	319,257,000
Property and equipment, net	221,047,000	213,238,000
Operating lease right-of-use assets	27,715,000	30,104,000
Goodwill	4,363,121,000	4,363,070,000
Other intangibles, net	3,199,883,000	3,285,037,000
Other assets	9,227,000	9,701,000
Total assets	8,275,768,000	8,220,407,000
Current liabilities:
Accounts payable	10,939,000	13,005,000
Accrued interest	78,147,000	55,685,000
Accrued taxes	41,983,000	0
Operating lease obligation, short-term	7,219,000	6,883,000
Current portion of long-term debt	13,250,000	13,250,000
Accrued compensation	24,558,000	25,419,000
Other accrued expenses	25,872,000	27,666,000
Total current liabilities	201,968,000	141,908,000
Long-term debt	4,878,386,000	4,879,144,000
Operating lease obligation, long-term	24,037,000	26,725,000
Private Placement Warrants and unvested founder shares	61,259,000	74,000,000
Deferred income taxes	718,533,000	753,825,000
Other liabilities	109,000	135,000
Total liabilities	5,884,292,000	5,875,737,000
Commitments and contingencies (Note 5)
Shareholders’ equity:
Preferred stock, $0.0001 par value — 10,000,000 shares authorized; no shares issued	0	0
Common stock, $0.0001 par value — 1,500,000,000 shares authorized; 666,045,694 and 665,456,180 issued; 638,928,288 and 638,338,774 shares outstanding	67,000	67,000
Additional paid-in capital	2,314,488,000	2,311,660,000
Retained earnings	269,090,000	225,112,000
Treasury stock — 27,117,406 and 27,117,406 shares	(192,169,000)	(192,169,000)
Total shareholders’ equity	2,391,476,000	2,344,670,000
Total liabilities and shareholders’ equity	$ 8,275,768,000	$ 8,220,407,000

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,500,000,000	1,500,000,000
Common stock, shares issued (in shares)	666,045,694	665,456,180
Common stock, shares outstanding (in shares)	638,928,288	638,338,774
Treasury stock (in shares)	27,117,406	27,117,406

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues	$ 298,046	$ 254,864
Costs of services (exclusive of depreciation and amortization of intangible assets shown below)	47,072	39,730
General and administrative expenses	32,588	31,996
Depreciation	16,596	16,165
Amortization of intangible assets	85,154	84,708
Total expenses	181,410	172,599
Operating income	116,636	82,265
Interest expense	71,445	63,717
Interest income	(12)	(4)
Gain on investments	(289)	0
Change in fair value of Private Placement Warrants and unvested founder shares	(12,741)	(40,375)
Net income before taxes	58,233	58,927
Provision for income taxes	14,255	13,050
Net income	$ 43,978	$ 45,877
Weighted average shares outstanding – Basic (in shares)	638,497,587	655,113,523
Weighted average shares outstanding – Diluted (in shares)	639,015,094	655,113,653
Net income per share – Basic (in usd per share)	$ 0.07	$ 0.07
Net income per share – Diluted (in usd per share)	$ 0.07	$ 0.07
Comprehensive income	$ 43,978	$ 45,877

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock Issued	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Treasury stock
Beginning balance (in shares) at Dec. 31, 2020			664,183,318					(9,107,963)
Balance at beginning of period at Dec. 31, 2020	$ 2,557,865	$ (227,841)	$ 66	$ 2,530,410	$ (233,874)	$ 116,999	$ 6,033	$ (89,610)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
2020 Omnibus Incentive Plan (in shares)			93,750
2020 Omnibus Incentive Plan	968			968
Tax withholding related to vesting of equity awards (in shares)								(36,498)
Tax withholding related to vesting of equity awards	(264)							$ (264)
Net income	45,877					45,877
Ending balance (in shares) at Mar. 31, 2021			664,277,068					(9,144,461)
Balance at end of period at Mar. 31, 2021	$ 2,376,605		$ 66	2,297,504		168,909		$ (89,874)
Beginning balance (in shares) at Dec. 31, 2021	638,338,774		665,456,180					(27,117,406)
Balance at beginning of period at Dec. 31, 2021	$ 2,344,670		$ 67	2,311,660		225,112		$ (192,169)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
2020 Omnibus Incentive Plan (in shares)			589,514
2020 Omnibus Incentive Plan	4,785			4,785
Tax withholding related to vesting of equity awards	(1,957)			(1,957)
Net income	$ 43,978					43,978
Ending balance (in shares) at Mar. 31, 2022	638,928,288		666,045,694					(27,117,406)
Balance at end of period at Mar. 31, 2022	$ 2,391,476		$ 67	$ 2,314,488		$ 269,090		$ (192,169)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities:
Net income	$ 43,978,000	$ 45,877,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	16,596,000	16,165,000
Amortization of intangible assets	85,154,000	84,708,000
Amortization of the right-of-use asset	1,683,000	1,779,000
Stock-based compensation	3,130,000	968,000
Deferred income taxes	(35,343,000)	(47,049,000)
Non-cash interest costs	2,577,000	2,884,000
Gain on equity investments	(289,000)	0
Loss on disposal of property and equipment	49,000	630,000
Change in fair value of Private Placement Warrants and unvested founder shares	(12,741,000)	(40,375,000)
Changes in assets and liabilities, net of assets acquired and liabilities assumed from acquisitions:
Accounts receivable, net	21,699,000	11,960,000
Prepaid expenses and other assets	3,602,000	(3,555,000)
Prepaid taxes	5,064,000	0
Operating lease obligation	(1,646,000)	(150,000)
Accounts payable and accrued expenses and other	61,424,000	97,065,000
Net cash provided by operating activities	194,937,000	170,907,000
Investing activities:
Purchases of property and equipment	(24,454,000)	(18,113,000)
Proceeds from sale of investment	289,000	5,616,000
HST Acquisition, net of cash acquired	0	(28,000)
DHP Acquisition, net of cash acquired	0	(149,873,000)
Net cash used in investing activities	(24,165,000)	(162,398,000)
Financing activities:
Repayments of Term Loan B	(3,313,000)	0
Taxes paid on settlement of vested share awards	(1,957,000)	(264,000)
Borrowings on finance leases, net	0	32,000
Net cash used in financing activities	(5,270,000)	(232,000)
Net increase in cash and cash equivalents	165,502,000	8,277,000
Cash and cash equivalents at beginning of period	185,328,000	126,755,000
Cash and cash equivalents at end of period	350,830,000	135,032,000
Cash and cash equivalents	350,830,000	135,032,000
Restricted cash	2,958,000	0
Cash, cash equivalents and restricted cash at end of period	353,788,000	135,032,000
Noncash investing and financing activities:
Purchases of property and equipment not yet paid	4,918,000	5,056,000
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	40,000	0
Supplemental disclosure of cash flow information:
Interest	(46,197,000)	(22,279,000)
Income taxes, net of refunds	$ (2,833,000)	$ (3,000,000)

General Information and Basis o

General Information and Basis of Accounting	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
General Information and Basis of Accounting	General Information and Basis of Accounting General Information We are a provider of data analytics and technology-enabled solutions designed to bring affordability, efficiency and fairness to the U.S. healthcare industry. We do so through services focused on reducing medical cost and improving payment accuracy for the payors of healthcare, which are health insurers, self-insured employers and other health plan sponsors (typically through their health plan administrators), and, indirectly, the plan members who are the consumers of healthcare services. Throughout the notes to the unaudited condensed consolidated financial statements, unless otherwise noted, "we," "us," "our", "MultiPlan", and the "Company" and similar terms refer to Polaris and its subsidiaries prior to the consummation of the Transactions, and MultiPlan and its subsidiaries after the Transactions. Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements of MultiPlan Corporation have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Certain information and disclosures required by accounting principles generally accepted in the United States (GAAP) for complete consolidated financial statements have been condensed or omitted pursuant to the SEC’s rules and regulations, although management believes that the disclosures are adequate and make the information presented not misleading. The unaudited condensed consolidated financial statements and notes herein should be read in conjunction with the audited consolidated financial statements of MultiPlan Corporation and the notes thereto, included in the Company’s 2021 Annual Report. In the opinion of management, all adjustments, which are of a normal and recurring nature (except as otherwise noted), necessary for a fair statement of the Company’s financial position as of March 31, 2022 and December 31, 2021, and its results of operations for the three months ended March 31, 2022 and 2021 and cash flows for the three months ended March 31, 2022 and 2021 have been included. Summary of Significant Accounting Policies Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from the Company's estimates. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, revenue recognition, recoverability of long-lived assets, goodwill, valuation of Private Placement Warrants and unvested founder shares, valuation of stock-based compensation awards and income taxes. COVID-19 COVID-19 has negatively impacted our business, results of operations and financial condition since the first quarter of 2020 as various federal, state, and local governments and private entities mandated, and in some cases continue to mandate, restrictions on travel, restrictions on public gatherings, closure of non-essential commerce, and shelter in place orders. For the three months ended March 31, 2022, the Company’s revenues continue to be negatively impacted as a result of the medical charges received on non-COVID claims from customers not yet reaching pre-COVID-19 pandemic levels due to fewer elective medical procedures and non-essential medical services. Such negative impacts, however, have been to a lesser extent compared to the same period in 2020 and 2021 as vaccination rates have increased and restrictions on medical services have been lifted. The extent of the ultimate impact of COVID-19 will depend on the severity and duration of the evolving pandemic. Future developments remain uncertain, including the number of confirmed cases, the emergence of highly contagious variants, and any actions taken by federal, state and local governments such as economic relief efforts, as well as U.S. and global economies, consumer behavior and healthcare utilization patterns. Segment Reporting Operating segments are defined as components of an entity for which separate financial information is available and regularly reviewed by the chief operating decision maker. The Company manages its operations as a single segment for the purposes of assessing performance and making decisions. The Company's singular focus is being a leading value-added provider of data analytics and technology-enabled end-to-end cost management, payment and revenue integrity solutions to the U.S. healthcare industry. In addition, all of the Company's revenues and long-lived assets are attributable to operations in the United States for all periods presented. Revenue Recognition Disaggregation of Revenue The following table presents revenues disaggregated by services and contract types: Three Months Ended March 31, (in thousands) 2022 2021 Revenues Network-Based Services $ 68,624 $ 69,365 PSAV 51,963 54,242 PEPM 14,938 13,515 Other 1,723 1,608 Analytics-Based Services 196,118 157,160 PSAV 190,292 153,078 PEPM 5,826 4,082 Payment and Revenue Integrity Services 33,304 28,339 PSAV 33,184 28,280 PEPM 120 59 Total Revenues $ 298,046 $ 254,864 Due to the nature of our arrangements, certain estimates may be constrained if it is probable that a significant reversal of revenue will occur when the uncertainty is resolved. For our percentage of savings contracts, portions of revenue that is recognized and collected in a reporting period may be returned or credited in subsequent periods. These credits are the result of payers not utilizing the discounts that were initially calculated, or differences between the Company’s estimates of savings achieved for a customer and the amounts self-reported in the following month by that same customer. Significant judgment is used in constraining estimates of variable consideration, and is based upon both client-specific and aggregated factors that include historical billing and adjustment data, client contract terms, and performance guarantees. We update our estimates at the end of each reporting period as additional information becomes available. There have not been any material changes to estimates of variable consideration for performance obligations satisfied prior to the three months ended March 31, 2022. The timing of payments from customers from time to time generates contract assets or contract liabilities, however these amounts are immaterial in all periods presented.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt As of March 31, 2022, and December 31, 2021, long-term debt consisted of the following: Key Terms March 31, 2022 December 31, 2021 (in thousands) Character Priority Maturity Coupon Term Loan B Term Loan Senior Secured 9/1/2028 (1) Variable (2) $ 1,318,375 $ 1,321,688 5.50% Senior Secured Notes Notes Senior Secured 9/1/2028 5.50% 1,050,000 1,050,000 5.750% Notes Notes Senior Unsecured 11/1/2028 5.750% 1,300,000 1,300,000 Senior Convertible PIK Notes Convertible Notes (3) Senior Unsecured 10/15/2027 Cash Interest 6.00%, PIK Interest 7.00% 1,300,000 1,300,000 Finance lease obligations, non-current Other Senior Secured 2022-2024 3.38% - 20.31% 49 71 Long-term debt 4,968,424 4,971,759 Less: current portion of long-term debt (13,250) (13,250) Discount - Term Loan B (12,436) (12,864) Discount – Senior Convertible PIK Notes (26,711) (27,715) Less: debt discounts, net (39,147) (40,579) Debt issuance costs - Term Loan B (6,775) (7,008) Debt issuance costs - 5.50% Senior Secured Notes (13,801) (14,188) Debt issuance costs - 5.750% Notes (17,065) (17,590) Less: debt issuance costs, net (37,641) (38,786) Long-term debt, net $ 4,878,386 $ 4,879,144 (1) Beginning December 31, 2021 and quarterly thereafter, we shall repay a principal amount of the Term Loan B equal to 0.25% of the initial aggregate principal of $1,325.0 million. These scheduled principal repayments may be reduced by any voluntary or mandatory prepayments made in accordance with the credit agreement. (2) Interest on Term Loan B and Revolver B is calculated, at MPH's option, as (a) LIBOR (or, with respect to the term loan facility only, 0.50%, whichever is higher), plus the applicable margin, or (b) the highest rate of (1) prime rate, (2) the federal funds effective rate, plus 0.50%, (3) the LIBOR for an interest period of one month, plus 1.00% and (4) 0.50% for Term Loan B and 1.00% for Revolver B, in each case, plus an applicable margin of 4.25% for Term Loan B and between 3.50% and 4.00% for Revolver B, depending on MPH's first lien debt to consolidated EBITDA ratio. The interest rate in effect for Term Loan B was 4.76% as of March 31, 2022. (3) The Senior Convertible PIK Notes are convertible into shares of Class A common stock based on a $13.00 conversion price, subject to customary anti-dilution adjustments.

Private Placement Warrants and

Private Placement Warrants and Unvested Founder Shares	3 Months Ended
	Mar. 31, 2022
Warrants and Rights Note Disclosure [Abstract]
Private Placement Warrants and Unvested Founder Shares	Private Placement Warrants and Unvested Founder SharesThe Company classifies the Private Placement Warrants and unvested founder shares as a liability on its unaudited condensed consolidated balance sheets as these instruments are precluded from being indexed to our own stock given the terms allow for a settlement that does not meet the scope of the fixed-for-fixed exception in Accounting Standards Codification 815. The Private Placement Warrants and unvested founder shares were initially recorded at fair value on the date of consummation of the Transactions and are subsequently adjusted to fair value at each subsequent reporting date. The fair value of the unvested founder shares and unvested Private Placement Warrants is obtained using a Monte Carlo model and the fair value of the remaining Private Placement Warrants using a Black Scholes model, together referenced as the "option pricing" model. The Company will continue to adjust the liability for changes in fair value for the founder shares until the earlier of the re-vesting or forfeiture of these instruments. The Company will continue to adjust the liability for changes in fair value for the Private Placement Warrants until the warrant is equity classified. As of March 31, 2022 and December 31, 2021, the fair value of the Private Placement Warrants were $29.3 million and $38.0 million, respectively, and the fair value of the unvested founder shares were $32.0 million and $36.0 million, respectively. For the three months ended March 31, 2022, and primarily as a result of the variations in the price of the Company's Class A common stock over those periods, the fair value of the Private Placement Warrants decreased by $8.7 million and the fair value of the unvested founder shares decreased by $4.0 million. The corresponding gain is recognized within change in fair value of Private Placement Warrants and unvested founder shares in the unaudited condensed consolidated statements of income and comprehensive income.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value measurements are based on the premise that fair value represents an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the following three-tier fair value hierarchy has been used in determining the inputs used in measuring fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities on the reporting date. • Level 2 — Inputs, other than quoted prices in active markets (Level 1), that are observable for the asset or liability, either directly or indirectly. • Level 3 — Unobservable inputs in which there is little or no market data, which require the entity to develop its own assumptions Financial instruments Certain financial instruments which are not measured at fair value on a recurring basis include cash and cash equivalents, accounts receivable and accounts payable, which approximate fair value due to their short-term nature. The financial instrument that potentially subjects the Company to concentrations of credit risk consists primarily of accounts receivable. As of March 31, 2022 and December 31, 2021, the Company's carrying amount and fair value of long-term debt consisted of the following: March 31, 2022 December 31, 2021 (in thousands) Carrying Fair Value Carrying Fair Value Liabilities: Term Loan B, net of discount $ 1,305,939 $ 1,270,026 $ 1,308,824 $ 1,294,312 5.50% Senior Secured Notes 1,050,000 1,008,420 1,050,000 1,029,680 5.750% Notes 1,300,000 1,177,800 1,300,000 1,245,436 Senior Convertible PIK Notes, net of discount 1,273,289 968,336 1,272,285 1,245,958 Finance lease obligations 49 49 71 71 Total Liabilities $ 4,929,277 $ 4,424,631 $ 4,931,180 $ 4,815,457 As of March 31, 2022, the fair value of long-term debt, including current maturities of finance lease obligations, was obtained using quoted prices in active markets. As such, this is considered a Level 1 fair value measurement. As of December 31, 2021, we estimated the fair value of long-term debt, including current maturities of finance lease obligations, based on estimates using present value techniques that were significantly affected by the assumptions used concerning the amount and timing of estimated future cash flows and discount rates that reflect varying degrees of risk. Assumptions included interest rates currently available for instruments with similar terms as well as the five, seven, and eight-year Treasury bill rates. As such, this was considered a Level 2 fair value measurement. Recurring fair value measurements The Private Placement Warrants and unvested founder shares are measured at fair value on a recurring basis. The fair value of these instruments was determined based on significant inputs not observable in the market which would represent a level 3 measurement within the fair value hierarchy. The Company uses an option pricing simulation to estimate the fair value of these instruments. Non-recurring fair value measurements We also measure certain non-financial assets at fair value on a nonrecurring basis, primarily goodwill and long-lived tangible and intangible assets, in connection with periodic evaluations for potential impairment. We estimate the fair value of these assets using primarily unobservable inputs and, as such, these are considered Level 3 fair value measurements. There were no material impairment charges for these assets for fiscal years 2022 and 2021.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company has certain irrevocable letters of credit used to satisfy real estate lease agreements for three of our offices in lieu of security deposits in the amount of $1.8 million outstanding as of March 31, 2022 and December 31, 2021. Claims and Litigation The Company is a defendant in various lawsuits and other pending and threatened litigation and other adversarial matters as well as regulatory investigations, all of which have arisen in the ordinary course of business. While the ultimate outcome with respect to such proceedings cannot be predicted with certainty, the Company does not believe they will result, individually or in the aggregate, in a material adverse effect upon our financial condition or results of operations, or cash flows. On March 25, 2021 and April 9, 2021, we were named as a defendant in two putative class action lawsuits relating to the Transactions that have since been consolidated under the caption In Re MultiPlan Corp. Stockholders Litigation, Consolidated C.A. No. 2021-0300-LWW (Del.Ch) ("Delaware Stockholder Litigation"). The Delaware Stockholder Litigation asserts breach of fiduciary duty claims and aiding and abetting breach of fiduciary duty claims against the former directors of the Churchill board, the Sponsor, KG and M. Klein (collectively, the "Churchill Defendants") and the Company. The Delaware Stockholder Litigation complaint alleges that the Transactions were a product of an unfair process by Churchill, which was allegedly impacted by conflicts of interest, resulting in mispricing of the Transactions. The complaint seeks, among other things, damages, certain equitable relief including the reopening of redemptions, and attorneys’ fees and costs. The Company and the Churchill Defendants filed motions to dismiss the complaint. On January 3, 2022, the Chancery Court issued a ruling granting in part the Company’s motion to dismiss and denying the motion to dismiss filed by the Churchill Defendants. The Company is therefore dismissed from the Delaware Stockholder Litigation, which is proceeding against the Churchill Defendants. Certain of the Churchill Defendants have contractual indemnification rights to the Company. We accrue for costs associated with certain contingencies, including, but not limited to, settlement of legal proceedings, regulatory compliance matters and self-insurance exposures when such costs are probable and reasonably estimable. Such accruals are included in other accrued expenses on the accompanying unaudited condensed consolidated balance sheets. In addition, we accrue for legal fees incurred in defense of asserted litigation and regulatory matters as such legal fees are incurred. To the extent it is probable under our existing insurance coverage that we are able to recover losses and legal fees related to contingencies, we record such recoveries concurrently with the accrual of the related loss or legal fees. Significant management judgment is required to estimate the amounts of such contingent liabilities and the related insurance recoveries. In our determination of the probability and ability to estimate contingent liabilities and related insurance recoveries we consider the following: litigation exposure based on currently available information, consultations with external legal counsel, adequacy and applicability of existing insurance coverage and other pertinent facts and circumstances regarding the contingency. Liabilities established to provide for contingencies are adjusted as further information develops, circumstances change, or contingencies are resolved; and such changes are recorded in the accompanying unaudited condensed consolidated statements of income and comprehensive income during the period of the change and appropriately reflected in other accrued liabilities on the accompanying unaudited condensed consolidated balance sheets.

Basic and Diluted Earnings Per

Basic and Diluted Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	Basic and Diluted Earnings Per Share Basic and diluted earnings per share was calculated as follows: Three Months Ended March 31, ($ in thousands, except number of shares and per share data) 2022 2021 Numerator for earnings per share calculation Net Income $ 43,978 $ 45,877 Denominator for earnings per share calculation Weighted average number of shares outstanding – basic 638,497,587 655,113,523 Effect of stock-based compensation 517,507 130 Weighted average number of shares outstanding – diluted 639,015,094 655,113,653 Income per share – basic and diluted: Net income per share – basic $ 0.07 $ 0.07 Net income per share – diluted $ 0.07 $ 0.07 As of the three months ended March 31, 2022 and 2021, we have excluded from the calculation of diluted net income per share the instruments whose effect would have been anti-dilutive, including (i) 58,500,000 warrants outstanding, (ii) 100,000,000 shares which may be issued upon conversion of the Senior Convertible PIK Notes, and (iii) 12,404,080 unvested founder shares. Additionally, we have excluded from the calculation of diluted net income per share awards within the 2020 Omnibus Incentive Plan, whose effect would have been anti-dilutive of 13,066,509 and 4,303,074 for the three months ended March 31, 2022 and 2021, respectively.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The accompanying unaudited condensed consolidated statements of income and comprehensive income include expenses and revenues to and from related parties for the three months ended March 31, 2022 and 2021 as follows: Three Months Ended March 31, (in thousands) 2022 2021 Revenues $ 643 $ 567 Total revenues from related parties 643 567 Cost of services (612) (690) General and administrative — (265) Total expense from related parties $ (612) $ (955) The accompanying unaudited condensed consolidated balance sheets include accruals from related parties as of March 31, 2022 and December 31, 2021 as follows: (in thousands) March 31, 2022 December 31, 2021 Current liabilities: Accounts payable $ 2,015 $ 2,297 Total liabilities from related parties $ 2,015 $ 2,297 In 2022 and 2021, the related party transactions included the following: • The Company purchased PPO network services from a company controlled by Hellman & Friedman LLC, an affiliate of H&F, to supplement our provider network. We also recognize revenues from that same company for the use of our provider network and other claims processing services. • The Company has obtained insurance brokered through a company controlled by Hellman & Friedman LLC. • The Company reimburses Hellman & Friedman LLC for reasonable out of pocket expenses that include travel, lodging, meals, and any similar expenses.

General Information and Basis_2

General Information and Basis of Accounting (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements of MultiPlan Corporation have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Certain information and disclosures required by accounting principles generally accepted in the United States (GAAP) for complete consolidated financial statements have been condensed or omitted pursuant to the SEC’s rules and regulations, although management believes that the disclosures are adequate and make the information presented not misleading. The unaudited condensed consolidated financial statements and notes herein should be read in conjunction with the audited consolidated financial statements of MultiPlan Corporation and the notes thereto, included in the Company’s 2021 Annual Report. In the opinion of management, all adjustments, which are of a normal and recurring nature (except as otherwise noted), necessary for a fair statement of the Company’s financial position as of March 31, 2022 and December 31, 2021, and its results of operations for the three months ended March 31, 2022 and 2021 and cash flows for the three months ended March 31, 2022 and 2021 have been included.
Consolidation	Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements of MultiPlan Corporation have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Certain information and disclosures required by accounting principles generally accepted in the United States (GAAP) for complete consolidated financial statements have been condensed or omitted pursuant to the SEC’s rules and regulations, although management believes that the disclosures are adequate and make the information presented not misleading. The unaudited condensed consolidated financial statements and notes herein should be read in conjunction with the audited consolidated financial statements of MultiPlan Corporation and the notes thereto, included in the Company’s 2021 Annual Report. In the opinion of management, all adjustments, which are of a normal and recurring nature (except as otherwise noted), necessary for a fair statement of the Company’s financial position as of March 31, 2022 and December 31, 2021, and its results of operations for the three months ended March 31, 2022 and 2021 and cash flows for the three months ended March 31, 2022 and 2021 have been included.
Use of Estimates	Use of EstimatesThe preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from the Company's estimates. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, revenue recognition, recoverability of long-lived assets, goodwill, valuation of Private Placement Warrants and unvested founder shares, valuation of stock-based compensation awards and income taxes.
COVID-19	COVID-19COVID-19 has negatively impacted our business, results of operations and financial condition since the first quarter of 2020 as various federal, state, and local governments and private entities mandated, and in some cases continue to mandate, restrictions on travel, restrictions on public gatherings, closure of non-essential commerce, and shelter in place orders. For the three months ended March 31, 2022, the Company’s revenues continue to be negatively impacted as a result of the medical charges received on non-COVID claims from customers not yet reaching pre-COVID-19 pandemic levels due to fewer elective medical procedures and non-essential medical services. Such negative impacts, however, have been to a lesser extent compared to the same period in 2020 and 2021 as vaccination rates have increased and restrictions on medical services have been lifted. The extent of the ultimate impact of COVID-19 will depend on the severity and duration of the evolving pandemic. Future developments remain uncertain, including the number of confirmed cases, the emergence of highly contagious variants, and any actions taken by federal, state and local governments such as economic relief efforts, as well as U.S. and global economies, consumer behavior and healthcare utilization patterns.
Segment Reporting	Segment Reporting Operating segments are defined as components of an entity for which separate financial information is available and regularly reviewed by the chief operating decision maker. The Company manages its operations as a single segment for the purposes of assessing performance and making decisions. The Company's singular focus is being a leading value-added provider of data analytics and technology-enabled end-to-end cost management, payment and revenue integrity solutions to the U.S. healthcare industry. In addition, all of the Company's revenues and long-lived assets are attributable to operations in the United States for all periods presented.
Revenue Recognition	Due to the nature of our arrangements, certain estimates may be constrained if it is probable that a significant reversal of revenue will occur when the uncertainty is resolved. For our percentage of savings contracts, portions of revenue that is recognized and collected in a reporting period may be returned or credited in subsequent periods. These credits are the result of payers not utilizing the discounts that were initially calculated, or differences between the Company’s estimates of savings achieved for a customer and the amounts self-reported in the following month by that same customer. Significant judgment is used in constraining estimates of variable consideration, and is based upon both client-specific and aggregated factors that include historical billing and adjustment data, client contract terms, and performance guarantees. We update our estimates at the end of each reporting period as additional information becomes available. There have not been any material changes to estimates of variable consideration for performance obligations satisfied prior to the three months ended March 31, 2022. The timing of payments from customers from time to time generates contract assets or contract liabilities, however these amounts are immaterial in all periods presented.

General Information and Basis_3

General Information and Basis of Accounting (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Disaggregation of Revenue	The following table presents revenues disaggregated by services and contract types: Three Months Ended March 31, (in thousands) 2022 2021 Revenues Network-Based Services $ 68,624 $ 69,365 PSAV 51,963 54,242 PEPM 14,938 13,515 Other 1,723 1,608 Analytics-Based Services 196,118 157,160 PSAV 190,292 153,078 PEPM 5,826 4,082 Payment and Revenue Integrity Services 33,304 28,339 PSAV 33,184 28,280 PEPM 120 59 Total Revenues $ 298,046 $ 254,864

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of March 31, 2022, and December 31, 2021, long-term debt consisted of the following: Key Terms March 31, 2022 December 31, 2021 (in thousands) Character Priority Maturity Coupon Term Loan B Term Loan Senior Secured 9/1/2028 (1) Variable (2) $ 1,318,375 $ 1,321,688 5.50% Senior Secured Notes Notes Senior Secured 9/1/2028 5.50% 1,050,000 1,050,000 5.750% Notes Notes Senior Unsecured 11/1/2028 5.750% 1,300,000 1,300,000 Senior Convertible PIK Notes Convertible Notes (3) Senior Unsecured 10/15/2027 Cash Interest 6.00%, PIK Interest 7.00% 1,300,000 1,300,000 Finance lease obligations, non-current Other Senior Secured 2022-2024 3.38% - 20.31% 49 71 Long-term debt 4,968,424 4,971,759 Less: current portion of long-term debt (13,250) (13,250) Discount - Term Loan B (12,436) (12,864) Discount – Senior Convertible PIK Notes (26,711) (27,715) Less: debt discounts, net (39,147) (40,579) Debt issuance costs - Term Loan B (6,775) (7,008) Debt issuance costs - 5.50% Senior Secured Notes (13,801) (14,188) Debt issuance costs - 5.750% Notes (17,065) (17,590) Less: debt issuance costs, net (37,641) (38,786) Long-term debt, net $ 4,878,386 $ 4,879,144 (1) Beginning December 31, 2021 and quarterly thereafter, we shall repay a principal amount of the Term Loan B equal to 0.25% of the initial aggregate principal of $1,325.0 million. These scheduled principal repayments may be reduced by any voluntary or mandatory prepayments made in accordance with the credit agreement. (2) Interest on Term Loan B and Revolver B is calculated, at MPH's option, as (a) LIBOR (or, with respect to the term loan facility only, 0.50%, whichever is higher), plus the applicable margin, or (b) the highest rate of (1) prime rate, (2) the federal funds effective rate, plus 0.50%, (3) the LIBOR for an interest period of one month, plus 1.00% and (4) 0.50% for Term Loan B and 1.00% for Revolver B, in each case, plus an applicable margin of 4.25% for Term Loan B and between 3.50% and 4.00% for Revolver B, depending on MPH's first lien debt to consolidated EBITDA ratio. The interest rate in effect for Term Loan B was 4.76% as of March 31, 2022. (3) The Senior Convertible PIK Notes are convertible into shares of Class A common stock based on a $13.00 conversion price, subject to customary anti-dilution adjustments.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	As of March 31, 2022 and December 31, 2021, the Company's carrying amount and fair value of long-term debt consisted of the following: March 31, 2022 December 31, 2021 (in thousands) Carrying Fair Value Carrying Fair Value Liabilities: Term Loan B, net of discount $ 1,305,939 $ 1,270,026 $ 1,308,824 $ 1,294,312 5.50% Senior Secured Notes 1,050,000 1,008,420 1,050,000 1,029,680 5.750% Notes 1,300,000 1,177,800 1,300,000 1,245,436 Senior Convertible PIK Notes, net of discount 1,273,289 968,336 1,272,285 1,245,958 Finance lease obligations 49 49 71 71 Total Liabilities $ 4,929,277 $ 4,424,631 $ 4,931,180 $ 4,815,457

Basic and Diluted Earnings Pe_2

Basic and Diluted Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	Basic and diluted earnings per share was calculated as follows: Three Months Ended March 31, ($ in thousands, except number of shares and per share data) 2022 2021 Numerator for earnings per share calculation Net Income $ 43,978 $ 45,877 Denominator for earnings per share calculation Weighted average number of shares outstanding – basic 638,497,587 655,113,523 Effect of stock-based compensation 517,507 130 Weighted average number of shares outstanding – diluted 639,015,094 655,113,653 Income per share – basic and diluted: Net income per share – basic $ 0.07 $ 0.07 Net income per share – diluted $ 0.07 $ 0.07

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The accompanying unaudited condensed consolidated statements of income and comprehensive income include expenses and revenues to and from related parties for the three months ended March 31, 2022 and 2021 as follows: Three Months Ended March 31, (in thousands) 2022 2021 Revenues $ 643 $ 567 Total revenues from related parties 643 567 Cost of services (612) (690) General and administrative — (265) Total expense from related parties $ (612) $ (955) The accompanying unaudited condensed consolidated balance sheets include accruals from related parties as of March 31, 2022 and December 31, 2021 as follows: (in thousands) March 31, 2022 December 31, 2021 Current liabilities: Accounts payable $ 2,015 $ 2,297 Total liabilities from related parties $ 2,015 $ 2,297

General Information and Basis_4

General Information and Basis of Accounting - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 298,046	$ 254,864
Network-Based Services
Disaggregation of Revenue [Line Items]
Revenues	68,624	69,365
Network-Based Services | PSAV
Disaggregation of Revenue [Line Items]
Revenues	51,963	54,242
Network-Based Services | PEPM
Disaggregation of Revenue [Line Items]
Revenues	14,938	13,515
Network-Based Services | Other
Disaggregation of Revenue [Line Items]
Revenues	1,723	1,608
Analytics-Based Services
Disaggregation of Revenue [Line Items]
Revenues	196,118	157,160
Analytics-Based Services | PSAV
Disaggregation of Revenue [Line Items]
Revenues	190,292	153,078
Analytics-Based Services | PEPM
Disaggregation of Revenue [Line Items]
Revenues	5,826	4,082
Payment and Revenue Integrity Services
Disaggregation of Revenue [Line Items]
Revenues	33,304	28,339
Payment and Revenue Integrity Services | PSAV
Disaggregation of Revenue [Line Items]
Revenues	33,184	28,280
Payment and Revenue Integrity Services | PEPM
Disaggregation of Revenue [Line Items]
Revenues	$ 120	$ 59

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long Term Debt (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Cash interest rate	6.00%
Paid-in-kind interest rate	7.00%
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt
Finance lease obligations, non-current	$ 49,000	$ 71,000
Long-term debt	4,968,424,000	4,971,759,000
Less: current portion of long-term debt	(13,250,000)	(13,250,000)
Less: debt discounts, net	(39,147,000)	(40,579,000)
Less: debt issuance costs, net	(37,641,000)	(38,786,000)
Long-term debt	$ 4,878,386,000	4,879,144,000
Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	20.31%
Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	3.38%
Term Loan B | Variable Rate Option 2
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	4.25%
Term Loan B | Variable Rate Option 2 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Term Loan B | Variable Rate Option 2 | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread, base rate	0.50%
Term Loan B | Variable Rate Option 1
Debt Instrument [Line Items]
Debt instrument, basis spread, base rate	0.50%
5.750% Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	5.75%
Revolver B | Variable Rate Option 2 | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	4.00%
Revolver B | Variable Rate Option 2 | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.50%
Revolver B | Variable Rate Option 2 | Fed Funds Effective Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Revolver B | Variable Rate Option 2 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Revolver B | Variable Rate Option 2 | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread, base rate	1.00%
Term loans | Term Loan B
Debt Instrument [Line Items]
Long-term debt	$ 1,318,375,000	1,321,688,000
Less: debt discounts, net	(12,436,000)	(12,864,000)
Less: debt issuance costs, net	$ (6,775,000)	$ (7,008,000)
Periodic payment, percentage of principal		0.25%
Debt instrument, face amount		$ 1,325,000,000
Debt instrument, effective interest rate, percentage	4.76%
Senior notes | 5.50% Senior Secured Notes
Debt Instrument [Line Items]
Long-term debt	$ 1,050,000,000	1,050,000,000
Interest rate, stated percentage	5.50%
Less: debt issuance costs, net	$ (13,801,000)	(14,188,000)
Senior notes | 5.750% Notes
Debt Instrument [Line Items]
Long-term debt	$ 1,300,000,000	1,300,000,000
Interest rate, stated percentage	5.75%
Less: debt issuance costs, net	$ (17,065,000)	(17,590,000)
PIK Note | Senior Convertible PIK Notes
Debt Instrument [Line Items]
Long-term debt	1,300,000,000	1,300,000,000
Less: debt discounts, net	$ (26,711,000)	$ (27,715,000)
PIK Note | Senior Convertible PIK Notes | Common Class A
Debt Instrument [Line Items]
Debt instrument, convertible, conversion price (in USD per share)	$ 13

Private Placement Warrants an_2

Private Placement Warrants and Unvested Founder Shares (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Private Placement Warrants
Class of Warrant or Right [Line Items]
Fair value of warrants or unvested founder shares	$ 29.3	$ 38
Gain on fair value of warrants or unvested founder shares	8.7
Unvested Founder Shares
Class of Warrant or Right [Line Items]
Fair value of warrants or unvested founder shares	32	$ 36
Gain on fair value of warrants or unvested founder shares	$ 4

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
5.750% Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest rate, stated percentage	5.75%
Senior notes | 5.50% Senior Secured Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest rate, stated percentage	5.50%
Senior notes | 5.750% Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest rate, stated percentage	5.75%
Carrying Amount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	$ 4,929,277	$ 4,931,180
Carrying Amount | Term loans | Term Loan B, net of discount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,305,939	1,308,824
Carrying Amount | Senior notes | 5.50% Senior Secured Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,050,000	1,050,000
Carrying Amount | Senior notes | 5.750% Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,300,000	1,300,000
Carrying Amount | Convertible notes, net of discount | Senior Convertible PIK Notes, net of discount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,273,289	1,272,285
Carrying Amount | Finance lease obligations
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	49	71
Fair Value
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	4,424,631	4,815,457
Fair Value | Term loans | Term Loan B, net of discount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,270,026	1,294,312
Fair Value | Senior notes | 5.50% Senior Secured Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,008,420	1,029,680
Fair Value | Senior notes | 5.750% Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,177,800	1,245,436
Fair Value | Convertible notes, net of discount | Senior Convertible PIK Notes, net of discount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	968,336	1,245,958
Fair Value | Finance lease obligations
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	$ 49	$ 71

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Letters of credit outstanding	$ 1.8	$ 1.8

Basic and Diluted Earnings Pe_3

Basic and Diluted Earnings Per Share - Reconciliation of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator for earnings per share calculation
Net Income	$ 43,978	$ 45,877
Denominator for earnings per share calculation
Weighted average number of shares outstanding – basic (in shares)	638,497,587	655,113,523
Effect of stock-based compensation (in shares)	517,507	130
Weighted average number of shares outstanding – diluted (in shares)	639,015,094	655,113,653
Income per share – basic and diluted:
Net income per share – basic (in usd per share)	$ 0.07	$ 0.07
Net income per share – diluted (in usd per share)	$ 0.07	$ 0.07

Basic and Diluted Earnings Pe_4

Basic and Diluted Earnings Per Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Warrants Outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share (in shares)	58,500,000	58,500,000
Convertible PIK Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share (in shares)	100,000,000	100,000,000
Unvested Founder Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share (in shares)	12,404,080	12,404,080
Unvested Incentive Plan Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share (in shares)	13,066,509	4,303,074

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Related Party Transactions [Abstract]
Total revenues from related parties	$ 643	$ 567
Cost of services	(612)	(690)
General and administrative	0	(265)
Total expense from related parties	(612)	$ (955)
Current liabilities:
Accounts payable	2,015		$ 2,297
Total liabilities from related parties	$ 2,015		$ 2,297

Uncategorized Items - mpln-2022

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]