XML 13 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Income Statements - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue $ 1,019.8 $ 411.5 $ 2,638.7 $ 1,289.9
Operating expenses:        
Selling, general and administrative 203.5 133.2 546.2 404.1
Acquisition-related and integration costs 23.1 2.0 195.6 15.1
Depreciation and amortization 101.1 24.3 246.9 72.8
Total operating expenses 874.5 348.3 2,342.6 1,072.6
Gain on disposition of property, plant and equipment 0.5 0.3 4.4 170.5
Operating income 145.8 63.5 300.5 387.8
Interest expense (63.7) (9.2) (149.6) (48.3)
Interest income 4.5 1.8 15.8 3.2
Change in fair value of derivatives, net 0.0 0.0 0.0 1.3
Other income, net 0.4 1.1 3.0 2.2
Foreign exchange (loss) gain (0.7) 0.4 (1.4) 0.8
Income before income taxes 86.3 57.6 168.3 347.0
Income tax expense 23.1 14.7 46.5 72.6
Net income 63.2 42.9 121.8 274.4
Net income attributable to:        
Controlling interests 63.4 42.9 122.2 274.4
Redeemable non-controlling interests (0.2) 0.0 (0.4) 0.0
Net income 63.2 42.9 121.8 274.4
Net income attributable to controlling interests 63.4 42.9 122.2 274.4
Cumulative dividends on Series A Senior Preferred Shares (6.7) 0.0 (17.6) 0.0
Allocated earnings to Series A Senior Preferred Shares (2.0) 0.0 (5.5) 0.0
Net income available to common stockholders $ 54.7 $ 42.9 $ 99.1 $ 274.4
Earnings per share available to common stockholders:        
Basic (usd per share) $ 0.30 $ 0.39 $ 0.61 $ 2.48
Diluted (usd per share) $ 0.30 $ 0.38 $ 0.61 $ 2.45
Weighted average number of shares outstanding:        
Basic (in shares) 182,148,717 110,838,237 161,724,677 110,750,021
Diluted (in shares) 183,601,601 112,209,535 162,916,593 111,858,095
Service revenue        
Revenue:        
Total revenue $ 773.8 $ 246.7 $ 1,923.4 $ 778.0
Operating expenses:        
Direct expenses 316.8 41.5 680.5 125.6
Inventory sales revenue        
Revenue:        
Total revenue 246.0 164.8 715.3 511.9
Operating expenses:        
Direct expenses $ 230.0 $ 147.3 $ 673.4 $ 455.0