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Segment Information | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
Segment Information | Note 21. SEgment information The Company has combined the leadership responsibility and full accountability for two of its operating segments. As a result, beginning in 2022, the information for the legacy Industrial Services segment was combined with the legacy Specialty Services segment to form a new operating and reportable segment called Specialty Services. Accordingly, the Company presents financial information for the Safety Services and Specialty Services segments, the two operating segments and also the reportable segments. Refer to Note 2 - "Basis of Presentation and Significant Accounting Policies" for more information. The information in the tables below has been retroactively adjusted to reflect these changes in reporting segments. The Company manages its operations under two operating segments which represent the Company’s two reportable segments: Safety Services and Specialty Services. This structure is generally focused on various businesses related to contracting services and maintenance of industrial and commercial facilities. Both reportable segments derive their revenues from installation, inspection, maintenance, service and repair, retrofitting and upgrading, engineering and design, distribution, fabrication, and various types of other services in approximately 20 countries. The Safety Services segment focuses on end-to-end integrated occupancy systems (fire protection solutions, HVAC and entry systems), including design, installation, inspection and service of these integrated systems. The work performed within this segment spans across industries and facilities and includes commercial, education, healthcare, high tech, industrial and special-hazard settings. The Specialty Services segment provides a variety of infrastructure services and specialized industrial plant services, which includes maintenance and repair of critical infrastructure such as underground electric, gas, water, sewer and telecommunications infrastructure. This segment’s services include engineering and design, fabrication, installation, maintenance service and repair, retrofitting and upgrading, pipeline infrastructure, access and road construction, supporting facilities, and performing ongoing integrity management and maintenance to customers within the energy industry. Customers within this segment vary from private and public utilities, communications, healthcare, education, transportation, manufacturing, industrial plants and governmental agencies throughout North America. The accounting policies of the reportable segments are the same as those described in Note 2 – “Basis of Presentation and Significant Accounting Policies.” All intercompany transactions and balances are eliminated in consolidation. Intercompany revenues and costs between entities within a reportable segment are eliminated to arrive at segment totals and eliminations between segments are separately presented. Corporate results include amounts related to corporate functions such as administrative costs, professional fees, acquisition-related transaction costs (exclusive of acquisition integration costs, which are included within the segment results of the acquired businesses), and other discrete items. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is the measure of profitability used by management to manage its segments and, accordingly, in its segment reporting. As appropriate, the Company supplements the reporting of consolidated financial information determined in accordance with U.S. GAAP with certain non-U.S. GAAP financial measures, including EBITDA. The Company believes these non-U.S. GAAP measures provide meaningful information and help investors understand the Company’s financial results and assess its prospects for future performance. The Company uses EBITDA to evaluate its performance, both internally and as compared with its peers, because it excludes certain items that may not be indicative of the Company’s core operating results for its reportable segments. Segment EBITDA is calculated in a manner consistent with consolidated EBITDA. Summarized financial information for the Company’s reportable segments is presented and reconciled to consolidated financial information in the following tables, including a reconciliation of consolidated operating income (loss) to EBITDA. The tables below may contain slight summation differences due to rounding:
|  | Three Months Ended June 30, 2022 |
|  | Safety Services |  |  | Specialty Services |  |  | Corporate and Eliminations |  |  | Consolidated |
Net revenues |  | $ | 1,146 |  |  | $ | 518 |  |  | $ | (15 | ) |  | $ | 1,649 |
EBITDA Reconciliation |  |  |  |  |  |  |  |  |  |  |  |
Operating income (loss) |  | $ | 63 |  |  | $ | 32 |  |  | $ | (36 | ) |  | $ | 59 |
Plus: |  |  |  |  |  |  |  |  |  |  |  |
Investment income and other, net |  |  | 1 |  |  |  | 2 |  |  |  | (1 | ) |  |  | 2 |
Non-service pension benefit |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | 11 |
Depreciation |  |  | 5 |  |  |  | 11 |  |  |  | 3 |  |  |  | 19 |
Amortization |  |  | 41 |  |  |  | 15 |  |  |  | 1 |  |  |  | 57 |
EBITDA |  | $ | 121 |  |  | $ | 60 |  |  | $ | (33 | ) |  | $ | 148 |
Total assets |  | $ | 6,156 |  |  | $ | 1,305 |  |  | $ | 593 |  |  | $ | 8,054 |
Capital expenditures |  |  | 5 |  |  |  | 15 |  |  |  | 2 |  |  |  | 22 |
|  | Three Months Ended June 30, 2021 |
|  | Safety Services |  |  | Specialty Services |  |  | Corporate and Eliminations |  |  | Consolidated |
Net revenues |  | $ | 512 |  |  | $ | 476 |  |  | $ | (10 | ) |  | $ | 978 |
EBITDA Reconciliation |  |  |  |  |  |  |  |  |  |  |  |
Operating income (loss) |  | $ | 52 |  |  | $ | 24 |  |  | $ | (29 | ) |  | $ | 47 |
Plus: |  |  |  |  |  |  |  |  |  |  |  |
Investment income and other, net |  |  | 2 |  |  |  | 3 |  |  |  | 1 |  |  |  | 6 |
Loss on extinguishment of debt |  |  | — |  |  |  | — |  |  |  | (9 | ) |  |  | (9 | )
Depreciation |  |  | 1 |  |  |  | 17 |  |  |  | 2 |  |  |  | 20 |
Amortization |  |  | 18 |  |  |  | 14 |  |  |  | — |  |  |  | 32 |
EBITDA |  | $ | 73 |  |  | $ | 58 |  |  | $ | (35 | ) |  | $ | 96 |
Total assets |  | $ | 2,141 |  |  | $ | 1,285 |  |  | $ | 817 |  |  | $ | 4,243 |
Capital expenditures |  |  | 1 |  |  |  | 15 |  |  |  | — |  |  |  | 16 |
|  | Six Months Ended June 30, 2022 |
|  | Safety Services |  |  | Specialty Services |  |  | Corporate and Eliminations |  |  | Consolidated |
Net revenues |  | $ | 2,220 |  |  | $ | 930 |  |  | $ | (30 | ) |  | $ | 3,120 |
EBITDA Reconciliation |  |  |  |  |  |  |  |  |  |  |  |
Operating income (loss) |  | $ | 126 |  |  | $ | 25 |  |  | $ | (99 | ) |  | $ | 52 |
Plus: |  |  |  |  |  |  |  |  |  |  |  |
Investment income and other, net |  |  | 1 |  |  |  | 3 |  |  |  | (2 | ) |  |  | 2 |
Non-service pension benefit |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  | 22 |
Depreciation |  |  | 12 |  |  |  | 23 |  |  |  | 3 |  |  |  | 38 |
Amortization |  |  | 83 |  |  |  | 29 |  |  |  | 2 |  |  |  | 114 |
EBITDA |  | $ | 244 |  |  | $ | 80 |  |  | $ | (96 | ) |  | $ | 228 |
Total assets |  | $ | 6,156 |  |  | $ | 1,305 |  |  | $ | 593 |  |  | $ | 8,054 |
Capital expenditures |  |  | 11 |  |  |  | 21 |  |  |  | 2 |  |  |  | 34 |
|  | Six Months Ended June 30, 2021 |
|  | Safety Services |  |  | Specialty Services |  |  | Corporate and Eliminations |  |  | Consolidated |
Net revenues |  | $ | 978 |  |  | $ | 820 |  |  | $ | (17 | ) |  | $ | 1,781 |
EBITDA Reconciliation |  |  |  |  |  |  |  |  |  |  |  |
Operating income (loss) |  | $ | 97 |  |  | $ | 6 |  |  | $ | (58 | ) |  | $ | 45 |
Plus: |  |  |  |  |  |  |  |  |  |  |  |
Investment income and other, net |  |  | 5 |  |  |  | 4 |  |  |  | — |  |  |  | 9 |
Loss on extinguishment of debt |  |  | — |  |  |  | — |  |  |  | (9 | ) |  |  | (9 | )
Depreciation |  |  | 3 |  |  |  | 33 |  |  |  | 3 |  |  |  | 39 |
Amortization |  |  | 33 |  |  |  | 29 |  |  |  | 1 |  |  |  | 63 |
EBITDA |  | $ | 138 |  |  | $ | 72 |  |  | $ | (63 | ) |  | $ | 147 |
Total assets |  | $ | 2,141 |  |  | $ | 1,285 |  |  | $ | 817 |  |  | $ | 4,243 |
Capital expenditures |  |  | 2 |  |  |  | 32 |  |  |  | — |  |  |  | 34 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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