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Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31,
						2024						2023
Revenues:
Surgical Facility Services						$	692.7					$	649.0
Ancillary Services						24.7						17.2
Total						$	717.4					$	666.2
Adjusted EBITDA:
Surgical Facility Services						$	126.7					$	118.8
Ancillary Services						(1.4)						(1.4)
All other						(27.8)						(27.3)
Total						$	97.5					$	90.1
Reconciliation of Adjusted EBITDA:
Income (loss) before income taxes						$	28.7					$	(0.4)
Net income attributable to non-controlling interests						(36.7)						(26.1)
Interest expense, net						47.3						46.8
Depreciation and amortization						33.7						33.7
Equity-based compensation expense						4.9						4.2
Transaction, integration and acquisition costs (1)						18.9						12.8
Net loss on disposals, consolidations and deconsolidations						1.5						10.5
Litigation settlements and regulatory change impact (2)						(1.2)						8.0
Undesignated derivative activity						—						0.6
Other						0.4						—
Adjusted EBITDA						$	97.5					$	90.1

(1)This amount includes transaction and integration costs of $17.4 million and $12.5 million for the three months ended March 31, 2024 and 2023, respectively. This amount further includes start-up costs related to de novo surgical facilities of $1.5 million and $0.3 million for the three months ended March 31, 2024 and 2023, respectively.

(2)This amount includes a litigation settlements gain of $1.8 million and a loss of $3.0 million for the three months ended March 31, 2024 and 2023, respectively. This amount also includes other litigation costs of $0.6 million and $0.6 million for the three months ended March 31, 2024 and 2023, respectively. Additionally, the three months ended March 31, 2023, includes $4.4 million related to the impact of recent changes in Florida law regarding the use of letters of protection.

Schedule of Reconciliation of Assets from Segment to Consolidated

						March 31, 2024						December 31, 2023
Assets:
Surgical Facility Services						$	6,420.9					$	6,347.4
Ancillary Services						60.6						36.3
All other						494.1						493.0
Total assets						$	6,975.6					$	6,876.7

Schedule of Financial Information by Reportable Segment

						Three Months Ended March 31,
						2024						2023
Cash purchases of property and equipment:
Surgical Facility Services						$	16.3					$	23.8
Ancillary Services						—						0.5
All other						4.7						—
Total cash purchases of property and equipment						$	21.0					$	24.3

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

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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.

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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.

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