Segments (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Financial Information Attributable to the Company's Business Segments

The following table sets forth certain financial information from operations attributable to the Company’s business segments for the three months ended March 31, 2024 and 2023 (in thousands):


	Three months ended March 31, 2024
	NEMT		PCS		RPM		Corporate and Other		Total
Service revenue, net	$	479,306	$	183,568	$	20,102	$	1,475	$	684,451

Service expense	423,657		149,438		8,363		2,108		583,566
General and administrative expense	31,820		24,432		5,440		15,485		77,177
Depreciation and amortization	7,359		12,795		6,674		275		27,103
Operating income (loss)	$	16,470	$	(3,097)	$	(375)	$	(16,393)	$	(3,395)

Equity in net loss of investee, net of tax	$	(28)	$	—	$	—	$	(734)	$	(762)
Equity investment	$	1,616	$	—	$	—	$	38,631	$	40,247
Goodwill	$	135,186	$	415,444	$	234,894	$	30	$	785,554
Total assets	$	535,830	$	757,949	$	343,190	$	127,079	$	1,764,048


	Three months ended March 31, 2023
	NEMT		PCS		RPM		Corporate and Other		Total
Service revenue, net	$	469,463	$	174,131	$	18,712	$	—	$	662,306
Grant income(1)	—		1,464		—		—		1,464

Service expense	407,686		136,090		6,490		—		550,266
General and administrative expense	33,875		22,663		5,769		17,406		79,713
Depreciation and amortization	6,766		12,868		5,854		205		25,693
Operating income (loss)	$	21,136	$	3,974	$	599	$	(17,611)	$	8,098

Equity in net income of investee, net of tax	$	653	$	—	$	—	$	1,372	$	2,025
Equity investment	$	1,092	$	—	$	—	$	42,606	$	43,698
Goodwill	$	135,186	$	552,775	$	280,663	$	30	$	968,654
Total assets	$	505,823	$	924,880	$	394,076	$	116,750	$	1,941,529

(1) Grant income for the PCS segment includes funding received on a periodic basis from the PRF in relation to relief under the CARES Act and funding received from the SLFRF under ARPA in relation to economic recovery to combat health and economic impacts of the COVID-19 pandemic. See Note 2, Significant Accounting Policies and Recent Accounting Pronouncements.