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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2019
Summary of Reconciliation of Segment EBITDA to Income before Income Taxes

The following tables set forth the financial information by operating segment, including a reconciliation of Segment EBITDA to income before income taxes (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Facilities

 

$

2,008,381

 

 

$

1,904,695

 

 

$

1,809,844

 

U.K. Facilities

 

 

1,099,081

 

 

 

1,107,747

 

 

 

1,026,472

 

Corporate and Other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

3,107,462

 

 

$

3,012,442

 

 

$

2,836,316

 

Segment EBITDA (1) :

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Facilities

 

$

503,358

 

 

$

488,207

 

 

$

475,260

 

U.K. Facilities

 

 

166,693

 

 

 

185,755

 

 

 

198,566

 

Corporate and Other

 

 

(84,168

)

 

 

(80,386

)

 

 

(69,467

)

 

 

$

585,883

 

 

$

593,576

 

 

$

604,359

 

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Segment EBITDA(1)

 

$

585,883

 

 

$

593,576

 

 

$

604,359

 

Plus (less):

 

 

 

 

 

 

 

 

 

 

 

 

Equity-based compensation expense

 

 

(17,307

)

 

 

(22,001

)

 

 

(23,467

)

Debt extinguishment costs

 

 

—

 

 

 

(1,815

)

 

 

(810

)

Legal settlements expense

 

 

—

 

 

 

(22,076

)

 

 

—

 

Loss on impairment

 

 

(54,386

)

 

 

(337,889

)

 

 

—

 

Transaction-related expenses

 

 

(27,064

)

 

 

(34,507

)

 

 

(24,267

)

Interest expense, net

 

 

(187,094

)

 

 

(185,410

)

 

 

(176,007

)

Depreciation and amortization

 

 

(164,044

)

 

 

(158,832

)

 

 

(143,010

)

Income (loss) before income taxes

 

$

135,988

 

 

$

(168,954

)

 

$

236,798

 
Summary of Assets by Operating Segment

 

 

December 31,

 

 

 

2019

 

 

2018

 

Assets (2) :

 

 

 

 

 

 

 

 

U.S. Facilities

 

$

4,037,968

 

 

$

3,779,040

 

U.K. Facilities

 

 

2,610,357

 

 

 

2,175,809

 

Corporate and Other

 

 

230,817

 

 

 

217,655

 

 

 

$

6,879,142

 

 

$

6,172,504

 

 

(1)

Segment EBITDA is defined as income before provision for income taxes, equity-based compensation expense, debt extinguishment costs, legal settlements expense, loss on impairment, transaction-related expenses, interest expense and depreciation and amortization. The Company uses Segment EBITDA as an analytical indicator to measure the performance of the Company’s segments and to develop strategic objectives and operating plans for those segments. Segment EBITDA is commonly used as an analytical indicator within the health care industry, and also serves as a measure of leverage capacity and debt service ability. Segment EBITDA should not be considered as a measure of financial performance under GAAP, and the items excluded from Segment EBITDA are significant components in understanding and assessing financial performance. Because Segment EBITDA is not a measurement determined in accordance with GAAP and is thus susceptible to varying calculations, Segment EBITDA, as presented, may not be comparable to other similarly titled measures of other companies.

(2)

Assets include property and equipment for the U.S. Facilities of $1.4 billion, U.K. Facilities of $1.7 billion and corporate and other of $50.9 million at December 31, 2019. Assets include property and equipment for the U.S. Facilities of $1.4 billion, U.K. Facilities of $1.7 billion and corporate and other of $44.9 million at December 31, 2018.
Goodwill [Member]  
Summary of Assets by Operating Segment

 

 

 

U.S.

Facilities

 

 

U.K.

Facilities

 

 

Corporate

and Other

 

 

Consolidated

 

Goodwill:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

2,042,592

 

 

$

708,582

 

 

$

—

 

 

$

2,751,174

 

Accumulated impairment loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net goodwill at January 1, 2018

 

 

2,042,592

 

 

 

708,582

 

 

 

—

 

 

 

2,751,174

 

Loss on impairment

 

 

—

 

 

 

(325,875

)

 

 

—

 

 

 

(325,875

)

Increase from contribution of redeemable

      noncontrolling interests

 

 

2,245

 

 

 

—

 

 

 

—

 

 

 

2,245

 

Foreign currency translation loss

 

 

—

 

 

 

(31,894

)

 

 

—

 

 

 

(31,894

)

Prior year purchase price adjustments

 

 

—

 

 

 

762

 

 

 

—

 

 

 

762

 

Balance at December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

2,044,837

 

 

 

677,450

 

 

 

—

 

 

 

2,722,287

 

Accumulated impairment loss

 

 

—

 

 

 

(325,875

)

 

 

—

 

 

 

(325,875

)

Net goodwill at December 31, 2018

 

 

2,044,837

 

 

 

351,575

 

 

 

—

 

 

 

2,396,412

 

Increase from contribution of redeemable

      noncontrolling interests

 

 

3,300

 

 

 

—

 

 

 

—

 

 

 

3,300

 

Increase from 2019 acquisitions

 

 

36,967

 

 

 

—

 

 

 

—

 

 

 

36,967

 

Foreign currency translation gain

 

 

—

 

 

 

12,452

 

 

 

—

 

 

 

12,452

 

Balance at December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

2,085,104

 

 

 

689,902

 

 

 

—

 

 

 

2,775,006

 

Accumulated impairment loss

 

 

—

 

 

 

(325,875

)

 

 

—

 

 

 

(325,875

)

Net goodwill at December 31, 2019

 

$

2,085,104

 

 

$

364,027

 

 

$

—

 

 

$

2,449,131