XML 20 R5.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cost of revenues   $ 259,920 $ 238,520 $ 235,874   $ 259,007 $ 237,883 $ 245,565   $ 301,079 $ 262,051 $ 253,732 $ 474,394 $ 483,448 $ 515,783 $ 734,314 $ 742,455 $ 816,862 $ 1,037,594 $ 1,015,200 $ 1,107,378
Gross profit $ 190,649 196,633 188,185 174,952 $ 178,556 168,056 167,616 160,492 $ 164,882 172,861 165,206 146,482 363,137 328,108 311,688 559,770 496,164 484,548 750,419 674,720 649,431
Other income (expense):                                          
Interest expense, net   (31,620) (29,596) (25,267)   (28,851) (27,717) (26,963)   (23,238) (17,830) (17,864) (54,863) (54,680) (35,695) (86,483) (83,531) (58,932) (122,802) (109,892) (85,259)
Amortization of debt issuance costs   (1,005) (1,004) (1,005)   (1,005) (1,024) (1,005)   (1,004) (865) (866) (2,009) (2,029) (1,731) (3,014) (3,034) (2,735) (4,018) (4,038) (3,740)
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal   388 (24,606)                   (24,606)     (24,218)     (24,218) 0 0
Loss on debt extinguishment                   (534)               (534) 0 0 (534)
Other income (expense), net (refer to Note O)   (37,769) (40,642) (47,442)   (35,113) (18,213) (14,288)   (14,262) (10,805) (23,402) (88,084) (32,501) (34,206) (125,853) (67,614) (48,468) (143,304) (83,114) (68,847)
Income Before Income Taxes   (61,686) (88,368) (85,821)   (89,897) (38,383) (37,338)   (21,052) 2,723 (25,749) (174,189) (75,721) (23,026) (235,875) (165,618) (44,078) (309,210) (266,453) (113,936)
Operating expenses:                                          
Selling, general and administrative expense   145,959 137,581 137,724   121,185 121,470 118,527   119,361 102,656 97,082 275,305 239,997 199,738 421,264 361,182 319,099 587,521 502,013 441,628
Management fees   18,633 18,739 17,942   18,346 16,670 16,145   16,342 14,651 14,186 36,681 32,815 28,837 55,314 51,161 45,179 74,767 67,945 62,104
Amortization expense   23,721 24,385 23,211   20,885 20,905 20,902   19,172 15,676 15,952 47,596 41,807 31,628 71,317 62,692 50,800 94,817 83,574 72,653
Impairment expense   0 0 8,182   32,568       0 0 2,879 8,182   2,879 8,182 32,568 2,879 8,182 90,597 28,602
Operating income (loss) (18,561) 8,320 7,480 (12,107) (57,970) (24,928) 8,571 4,918 (22,148) 17,986 32,223 16,383 (4,627) 13,489 48,606 3,693 (11,439) 66,591 (14,868) (69,409) 44,444
Provision for income taxes   2,772 15,593 3,110   300 1,775 4,088   18,837 5,415 5,193 18,703 5,863 10,607 21,475 6,163 29,445 18,612 8,198 29,493
Loss from continuing operations   (64,458) (103,961) (88,931)   (90,197) (40,158) (41,426)   (39,889) (2,692) (30,942) (192,892) (81,584) (33,633) (257,350) (171,781) (73,523) (327,822) (274,651) (143,429)
Income from continuing operations before income taxes   (1,088) 872 317   10,858 5,437 10,939   11,160 7,476 12,380 1,189 16,376 19,856 101 27,234 31,016 (6,905) 24,208 25,831
Gain on sale of discontinued operations, net of income tax   0 0 3,345   1,274 4,232 97,989   1,479 (579) 5,993 3,345 102,221 5,414 3,345 103,495 6,893 11,957 283,025 9,393
Net income (loss)   (65,546) (103,089) (85,269)   (78,065) (30,489) 67,502   (27,250) 4,205 (12,569) (188,358) 37,013 (8,363) (253,904) (41,052) (35,614) (322,770) 32,582 (108,205)
Less: Net loss from continuing operations attributable to noncontrolling interest   (28,922) (29,802) (28,756)   (24,032) (15,672) (12,488)   (8,531) (7,212) (12,312) (58,558) (28,160) (19,524) (87,480) (52,192) (28,055) (111,025) (75,761) (50,240)
Less: Net income (loss) from discontinued operations attributable to noncontrolling interest   (592) (235) (336)   625 89 (194)   923 1,071 1,320 (571) (105) 2,391 (1,163) 520 3,314 (2,884) (304) 1,258
Net income (loss) attributable to Holdings (43,600) (36,032) (73,052) (56,177) 98,027 (54,658) (14,906) 80,184 (48,350) (19,642) 10,346 (1,577) (129,229) 65,278 8,770 (165,261) 10,620 (10,873) (208,861) 108,647 (59,223)
Amounts attributable to common shares of Holdings:                                          
Loss from continuing operations (46,927) (35,536) (74,159) (60,175) (79,301) (66,165) (24,486) (28,938) (47,721) (31,358) 4,520 (18,630) (134,334) (53,424) (14,109) (169,870) (119,589) (45,468) (216,797) (198,890) (93,189)
Income (loss) from discontinued operations, net of income tax $ (5,285) (496) 1,107 653 $ (2,202) 10,233 5,348 11,133 $ (3,129) 10,237 6,405 11,060 1,760 16,481 17,465 1,264 26,714 27,702 (4,021) 24,512 24,573
Gain on sale of discontinued operations, net of income tax   $ 0 $ 0 $ 3,345   $ 1,274 $ 4,232 $ 97,989   $ 1,479 $ (579) $ 5,993 $ 3,345 $ 102,221 $ 5,414 $ 3,345 $ 103,495 $ 6,893 $ 11,957 $ 283,025 $ 9,393
Basic and fully diluted income (loss) per share attributable to Holdings (refer to Note K)                                          
Continuing operations (in dollars per share) $ (0.78) $ (0.61) $ (1.13) $ (1.57) $ (1.25) $ (1.07) $ (0.85) $ (0.53) $ (0.80) $ (0.60) $ (0.11) $ (0.42) $ (2.66) $ (1.34) $ (0.49) $ (3.22) $ (2.36) $ (1.05) $ (3.94) $ (3.57) $ (1.81)
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share 0.04 (0.01) 0.01 0.05 2.45 0.15 0.13 1.49 (0.02) 0.15 0.07 0.23 0.07 1.63 0.31 0.06 1.79 0.47 0.11 4.27 0.44
Weighted average number of shares outstanding - basic and fully diluted $ (0.74) $ (0.62) $ (1.12) $ (1.52) $ 1.20 $ (0.92) $ (0.72) $ 0.96 $ (0.82) $ (0.45) $ (0.04) $ (0.19) $ (2.59) $ 0.29 $ (0.18) $ (3.16) $ (0.57) $ (0.58) $ (3.83) $ 0.70 $ (1.37)
Weighted Average Number of Shares Outstanding, Diluted                                     75,454,000 72,105,000 70,715,000
Cash distribution declared per share (refer to Note K)                                     $ 1.00 $ 1.00 $ 1.00
Revenue from Contract with Customer, Excluding Assessed Tax $ 493,929 $ 456,553 $ 426,705 $ 410,826 $ 451,301 $ 427,063 $ 405,499 $ 406,057 $ 455,398 $ 473,940 $ 427,257 $ 400,214 $ 837,531 $ 811,556 $ 827,471 $ 1,294,084 $ 1,238,619 $ 1,301,410 $ 1,788,013 $ 1,689,920 $ 1,756,809