XML 70 R4.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Revenues $ 667,600,000 $ 615,400,000 $ 1,333,800,000 $ 1,211,600,000
Operating expenses:        
Salaries and benefits 195,200,000 181,900,000 397,400,000 360,800,000
Supplies 182,200,000 173,500,000 370,600,000 345,100,000
Professional and medical fees 72,900,000 66,700,000 147,500,000 130,300,000
Lease expense 21,800,000 20,200,000 43,200,000 40,200,000
Other operating expenses 41,400,000 38,500,000 87,000,000.0 75,800,000
Cost of revenues 513,500,000 480,800,000 1,045,700,000 952,200,000
General and administrative expenses 31,200,000 26,100,000 63,200,000 55,600,000
Depreciation and amortization 24,400,000 28,000,000.0 58,100,000 55,400,000
Transaction and integration costs 12,000,000.0 8,200,000 24,500,000 15,300,000
Grant funds 0 (100,000) (1,100,000) (1,300,000)
Net (gain) loss on disposals, consolidations and deconsolidations (8,800,000) 1,100,000 1,700,000 1,000,000.0
Equity in earnings of unconsolidated affiliates (2,600,000) (2,600,000) (5,900,000) (5,700,000)
Litigation settlements 1,500,000 0 4,500,000 (32,800,000)
Other income, net (1,200,000) (2,600,000) (900,000) (5,000,000.0)
Total operating expenses 570,000,000.0 538,900,000 1,189,800,000 1,034,700,000
Operating income 97,600,000 76,500,000 144,000,000.0 176,900,000
Interest expense, net (47,700,000) (56,900,000) (94,500,000) (113,200,000)
Income before income taxes 49,900,000 19,600,000 49,500,000 63,700,000
Income tax benefit (expense) 7,800,000 (4,300,000) 9,400,000 (5,600,000)
Net income 57,700,000 15,300,000 58,900,000 58,100,000
Less: Net income attributable to non-controlling interests (38,800,000) (33,700,000) (64,900,000) (64,300,000)
Net income (loss) attributable to Surgery Partners, Inc. $ 18,900,000 $ (18,400,000) $ (6,000,000.0) $ (6,200,000)
Net income (loss) per share attributable to common stockholders        
Basic (in USD per share) $ 0.15 $ (0.21) $ (0.05) $ (0.07)
Diluted (in USD per share) [1] $ 0.15 $ (0.21) $ (0.05) $ (0.07)
Weighted average common shares outstanding        
Basic (shares) 125,718 88,900 125,463 88,450
Diluted (shares) [1] 127,370 88,900 125,463 88,450
[1] The impact of potentially dilutive securities for the three months ended June 30, 2022 and the six months ended June 30, 2023 and 2022, was not considered because the effect would be anti-dilutive.