XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Revenues $ 615.4 $ 543.3 $ 1,211.6 $ 1,055.7
Operating expenses:        
Salaries and benefits 181.9 155.3 360.8 307.0
Supplies 173.5 157.5 345.1 304.8
Professional and medical fees 66.7 57.4 130.3 112.9
Lease expense 20.2 22.6 40.2 45.4
Other operating expenses 38.5 32.2 75.8 63.8
Cost of revenues 480.8 425.0 952.2 833.9
General and administrative expenses 26.1 24.5 55.6 51.3
Depreciation and amortization 28.0 25.2 55.4 50.9
Transaction and integration costs 8.2 9.2 15.3 14.5
Grant funds (0.1) (4.9) (1.3) (20.0)
Loss on disposals and deconsolidations, net 1.1 1.0 1.0 0.1
Equity in earnings of unconsolidated affiliates (2.6) (3.0) (5.7) (5.6)
Litigation settlement 0.0 0.0 (32.8) 0.0
Loss on debt extinguishment 0.0 9.6 0.0 9.6
Other income, net (2.6) (2.8) (5.0) (2.8)
Total operating expenses 538.9 483.8 1,034.7 931.9
Operating income 76.5 59.5 176.9 123.8
Interest expense, net (56.9) (53.4) (113.2) (106.7)
Income before income taxes 19.6 6.1 63.7 17.1
Income tax (expense) benefit (4.3) 2.7 (5.6) 2.5
Net income 15.3 8.8 58.1 19.6
Less: Net income attributable to non-controlling interests (33.7) (35.7) (64.3) (67.5)
Net loss attributable to Surgery Partners, Inc. (18.4) (26.9) (6.2) (47.9)
Less: Amounts attributable to participating securities 0.0 0.0 0.0 (10.3)
Net loss attributable to common stockholders $ (18.4) $ (26.9) $ (6.2) $ (58.2)
Net loss per share attributable to common stockholders        
Basic (in USD per share) $ (0.21) $ (0.39) $ (0.07) $ (0.94)
Diluted (in USD per share) [1] $ (0.21) $ (0.39) $ (0.07) $ (0.94)
Weighted average common shares outstanding        
Basic (shares) 88,900 69,267 88,450 62,060
Diluted (shares) [1] 88,900 69,267 88,450 62,060
[1] The impact of potentially dilutive securities for all periods presented was not considered because the effect would be anti-dilutive.