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Operating Segments and Related Information | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Operating Segments and Related Information | 17. Operating Segments and Related Information The Company currently has one primary reportable geographic segment - United States, and primarily all revenue is derived in the United States. The Company has three reportable operating segments, plus our Other segment, based on management’s organization of the enterprise - Infrastructure, Life Sciences, Spectrum, and Other. The Company also has a Non-Operating Corporate segment. All inter-segment transactions are eliminated on consolidation. There are no inter-segment revenues. The Company's revenue concentrations of 10% and greater were as follows:
|  |  |  |  | Three Months Ended March 31,
| Segment |  |  |  |  |  | 2024 |  | 2023
Customer A | Infrastructure |  |  |  |  |  | 27.6% |  | 28.1%
Summarized financial information with respect to the Company’s operating segments is as follows (in millions):
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
Revenue |  |  |  |  |  |  |  |
Infrastructure |  |  |  |  |  | $ | 307.9 |  |  | $ | 311.7 |
Life Sciences |  |  |  |  |  | 1.0 |  |  | 0.5 |
Spectrum |  |  |  |  |  | 6.3 |  |  | 5.7 |
Total revenue |  |  |  |  |  | $ | 315.2 |  |  | $ | 317.9 |
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
Income (loss) from operations |  |  |  |  |  |  |  |
Infrastructure |  |  |  |  |  | $ | 9.3 |  |  | $ | 6.3 |
Life Sciences |  |  |  |  |  | (3.2) |  |  | (4.4) |
Spectrum |  |  |  |  |  | 0.2 |  |  | (0.5) |
Other |  |  |  |  |  | — |  |  | (1.4) |
Non-Operating Corporate |  |  |  |  |  | (3.5) |  |  | (4.0) |
Total income (loss) from operations |  |  |  |  |  | $ | 2.8 |  |  | $ | (4.0) |
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
Reconciliation of the consolidated segment income (loss) from operations to consolidated loss from operations before income taxes: |  |  |  |  |  |  |  |
Income (loss) from operations |  |  |  |  |  | $ | 2.8 |  |  | $ | (4.0) |
Interest expense |  |  |  |  |  | (17.2) |  |  | (15.6) |
Loss from equity investees |  |  |  |  |  | (1.2) |  |  | (4.0) |
Other (expense) income, net |  |  |  |  |  | (1.2) |  |  | 16.5 |
Loss from operations before income taxes |  |  |  |  |  | $ | (16.8) |  |  | $ | (7.1) |
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
Depreciation and Amortization |  |  |  |  |  |  |  |
Infrastructure |  |  |  |  |  | $ | 3.0 |  |  | $ | 4.9 |
Infrastructure recognized within cost of revenue |  |  |  |  |  | 4.0 |  |  | 3.9 |
Total Infrastructure |  |  |  |  |  | 7.0 |  |  | 8.8 |
Life Sciences |  |  |  |  |  | 0.1 |  |  | 0.1 |
Spectrum |  |  |  |  |  | 1.3 |  |  | 1.3 |
Total depreciation and amortization |  |  |  |  |  | $ | 8.4 |  |  | $ | 10.2 |
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
Capital Expenditures (*) |  |  |  |  |  |  |  |
Infrastructure |  |  |  |  |  | $ | 5.2 |  |  | $ | 3.0 |
Life Sciences |  |  |  |  |  | 0.1 |  |  | 0.1 |
Spectrum |  |  |  |  |  | 0.3 |  |  | 0.3 |
Non-Operating Corporate |  |  |  |  |  | — |  |  | 0.3 |
Total |  |  |  |  |  | $ | 5.6 |  |  | $ | 3.7 |
(*) The above capital expenditures exclude assets acquired under finance lease and other financing obligations.
| March 31, 2024 |  | December 31, 2023
Investments |  |  |
Life Sciences | $ | 1.8 |  |  | $ | 1.8 |
Total | $ | 1.8 |  |  | $ | 1.8 |
The Company's equity method investments in the Life Sciences segment included in the table above totaled $0.9 million as of both March 31, 2024 and December 31, 2023.
|  | March 31, 2024 |  | December 31, 2023
Total Assets |  |  |  |
Infrastructure |  | $ | 746.6 |  |  | $ | 851.4 |
Life Sciences |  | 8.2 |  |  | 8.3 |
Spectrum |  | 175.5 |  |  | 176.6 |
Non-Operating Corporate |  | 13.2 |  |  | 7.3 |
Total |  | $ | 943.5 |  |  | $ | 1,043.6 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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