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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Schedule of Segment Revenue and Operating Income | The following tables present financial information for each reportable segment (in millions):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Revenues: |  |  |  |  |  |  |  |
Surgical Facility Services |  | $ | 542.1 |  |  | $ | 478.6 |  |  | $ | 1,563.7 |  |  | $ | 1,262.8 |
Ancillary Services |  | 17.1 |  |  | 16.7 |  |  | 51.2 |  |  | 46.9 |
Optical Services |  | — |  |  | 0.8 |  |  | — |  |  | 2.1 |
Total |  | $ | 559.2 |  |  | $ | 496.1 |  |  | $ | 1,614.9 |  |  | $ | 1,311.8 |
Adjusted EBITDA: |  |  |  |  |  |  |  |
Surgical Facility Services |  | $ | 96.9 |  |  | $ | 82.5 |  |  | $ | 287.5 |  |  | $ | 229.7 |
Ancillary Services |  | — |  |  | (0.6) |  |  | (1.0) |  |  | (3.9) |
Optical Services |  | — |  |  | 0.4 |  |  | — |  |  | 1.0 |
All other |  | (20.5) |  |  | (21.2) |  |  | (61.3) |  |  | (61.0) |
Total |  | $ | 76.4 |  |  | $ | 61.1 |  |  | $ | 225.2 |  |  | $ | 165.8 |
Reconciliation of Adjusted EBITDA: |  |  |  |  |  |  |  |
Income (loss) before income taxes |  | $ | 9.4 |  |  | $ | (33.0) |  |  | $ | 26.5 |  |  | $ | (61.1) |
Net income attributable to non-controlling interests |  | (31.1) |  |  | (27.3) |  |  | (98.6) |  |  | (75.0) |
Depreciation and amortization |  | 25.2 |  |  | 24.1 |  |  | 76.1 |  |  | 69.3 |
Interest expense, net |  | 54.2 |  |  | 51.5 |  |  | 160.9 |  |  | 147.8 |
Equity-based compensation expense |  | 4.1 |  |  | 3.0 |  |  | 13.4 |  |  | 9.9 |
Transaction, integration and acquisition costs (1) |  | 10.2 |  |  | 7.5 |  |  | 31.0 |  |  | 30.2 |
Impairment charges |  | — |  |  | 33.5 |  |  | — |  |  | 33.5 |
Loss on disposals and deconsolidations, net |  | 1.9 |  |  | 0.7 |  |  | 2.0 |  |  | 7.1 |
Litigation settlement and other litigation costs (2) |  | 2.5 |  |  | 1.1 |  |  | 4.3 |  |  | 4.9 |
(Gain) loss on debt extinguishment |  | (0.5) |  |  | — |  |  | 9.1 |  |  | — |
Gain on escrow release (3) |  | — |  |  | — |  |  | — |  |  | (0.8) |
Hurricane-related operating losses (4) |  | 0.5 |  |  | — |  |  | 0.5 |  |  | — |
Adjusted EBITDA |  | $ | 76.4 |  |  | $ | 61.1 |  |  | $ | 225.2 |  |  | $ | 165.8 |
(1)This amount includes transaction and integration costs of $10.2 million and $5.4 million for the three months ended September 30, 2021 and 2020, respectively. This amount further includes start-up costs related to a de novo surgical hospital of $2.1 million for the three months ended September 30, 2020. This amount includes transaction and integration costs of $24.7 million and $15.8 million for the nine months ended September 30, 2021 and 2020, respectively. This amount further includes start-up costs related to a de novo surgical hospital of $6.3 million and $14.4 million for the nine months ended September 30, 2021 and 2020, respectively. (2)This amount includes other litigation costs of $2.5 million and $1.1 million for the three months ended September 30, 2021 and 2020, respectively. This amount includes other litigation costs of $4.3 million and $3.7 million for the nine months ended September 30, 2021 and 2020, respectively. This amount further includes litigation settlement costs of $1.2 million for the nine months ended September 30, 2020, with no comparable costs for the nine months ended September 30, 2021. (3)Included in other income in the condensed consolidated statement of operations for the nine months ended September 30, 2020. (4)Reflects losses incurred in the month of September 2021 at a surgical facility that was closed following Hurricane Ida.
Schedule of Reconciliation of Assets from Segment to Consolidated |
|  | September 30, 2021 |  | December 31, 2020
Assets: |  |  |  |
Surgical Facility Services |  | $ | 5,124.4 |  |  | $ | 4,962.4 |
Ancillary Services |  | 32.5 |  |  | 35.0 |
All other |  | 474.7 |  |  | 415.8 |
Total assets |  | $ | 5,631.6 |  |  | $ | 5,413.2 |
Schedule of Financial Information by Reportable Segment |
|  | Nine Months Ended September 30,
|  | 2021 |  | 2020
Cash purchases of property and equipment: |  |  |  |
Surgical Facility Services |  | $ | 42.0 |  |  | $ | 24.1 |
Ancillary Services |  | 0.4 |  |  | 0.3 |
All other |  | 1.1 |  |  | 3.4 |
Total cash purchases of property and equipment |  | $ | 43.5 |  |  | $ | 27.8 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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