XML 28 R18.htm IDEA: XBRL DOCUMENT v3.23.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s reportable segments are comprised of (1) full service center-based child care, (2) back-up care, and (3) educational advisory and other services. The full service center-based child care segment includes the traditional center-based early education and child care, preschool, and elementary education. The Company’s back-up care segment consists of center-based back-up child care, in-home care for children and adult/elder dependents, school-age camps, tutoring, pet care and self-sourced reimbursed care. The Company’s educational advisory and other services segment consists of tuition assistance and student loan repayment program management, workforce education, related educational advising, college advisory services, and Sittercity, an online marketplace for families and caregivers, which have been aggregated. The Company and its chief operating decision maker evaluate performance based on revenue and income from operations. Intercompany activity is eliminated in the segment results. The assets and liabilities of the Company are managed centrally and are reported internally in the same manner as the consolidated financial statements; therefore, no segment asset information is produced or included herein.
Revenue and income from operations by reportable segment were as follows:
Full service
center-based
child care		Back-up careEducational
advisory and
other services		Total
(In thousands)
Three months ended September 30, 2023
Revenue$444,747 $169,117 $31,923 $645,787 
Income from operations6,990 51,684 8,150 66,824 
Three months ended September 30, 2022
Revenue$380,556 $128,606 $31,053 $540,215 
Income (loss) from operations (1)
(9,834)40,405 8,478 39,049 
(1)For the three months ended September 30, 2022, loss from operations for the full service center-based child care segment included $6.7 million of transaction costs related to acquisitions.
Full service
center-based
child care		Back-up careEducational
advisory and
other services		Total
(In thousands)
Nine months ended September 30, 2023
Revenue$1,333,469 $381,850 $87,290 $1,802,609 
Income from operations (1)
28,493 95,963 18,545 143,001 
Nine months ended September 30, 2022
Revenue$1,105,804 $301,164 $83,997 $1,490,965 
Income from operations (2)
17,049 85,982 15,004 118,035 
(1)For the nine months ended September 30, 2023, income from operations included a value-added-tax expense of $6.0 million related to prior periods, of which $4.3 million was associated with the back-up care segment and $1.7 million was associated with the full service center-based child care segment. Refer to Note 1, Organization and Basis of Presentation, for additional information.
(2)For the nine months ended September 30, 2022, income from operations for the full service center-based child care segment included $9.2 million of transaction costs related to acquisitions.