Business Segments (Tables)
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12 Months Ended |
Dec. 31, 2022 |
Business Segments |
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Schedule of Segment Reporting Information |
| | | | | | | | | | | | | | | | | | | 2022 | | | | | | | | | | | | | | | | | | | | | HFS – South | | HFS – Midwest | | Government | | TCPL Keystone | | All Other | | Total | Revenue | | $ | 132,373 | | $ | 6,168 | | $ | 360,294 | | $ | - | | $ | 3,150 | (a) | $ | 501,985 | Adjusted gross profit | | $ | 54,558 | | $ | (258) | | $ | 246,598 | | $ | - | | $ | (937) | | $ | 299,961 | Capital expenditures | | $ | 8,686 | | $ | 214 | | $ | 130,871 | | $ | - | | $ | 125 | | | | Total Assets | | $ | 176,637 | | $ | 30,152 | | $ | 217,029 | | $ | 3,007 | | $ | 1,563 | | $ | 428,388 |
| | | | | | | | | | | | | | | | | | | 2021 | | | | | | | | | | | | | | | | | | | | | HFS – South | | HFS – Midwest | | Government | | TCPL Keystone | | All Other | | Total | Revenue | | $ | 116,958 | | $ | 4,150 | | $ | 156,250 | | $ | 12,283 | | $ | 1,696 | (a) | $ | 291,337 | Adjusted gross profit | | $ | 52,344 | | $ | (711) | | $ | 94,801 | | $ | 9,161 | | $ | (636) | | $ | 154,959 | Capital expenditures | | $ | 8,835 | | $ | 150 | | $ | 27,525 | | $ | - | | $ | 57 | | | | Total Assets | | $ | 206,774 | | $ | 43,504 | | $ | 87,308 | | $ | 3,007 | | $ | 2,412 | | $ | 343,005 |
| | | | | | | | | | | | | | | | | | | 2020 | | | | | | | | | | | | | | | | | | | | | HFS – South | | HFS – Midwest | | Government | | TCPL Keystone | | All Other | | Total | Revenue | | $ | 112,126 | | $ | 6,605 | | $ | 63,259 | | $ | 41,911 | | $ | 1,247 | (a) | $ | 225,148 | Adjusted gross profit | | $ | 51,518 | | $ | 161 | | $ | 47,523 | | $ | 8,617 | | $ | (699) | | $ | 107,120 | Capital expenditures | | $ | 8,160 | | $ | 67 | | $ | 24 | | $ | 164 | | $ | 656 | | | |
(a) | Revenues from segments below the quantitative thresholds are attributable to operating segments of the Company and are reported in the “All Other” category previously described. |
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Schedule of reconciliation of total segment adjusted gross profit |
| | | | | | | | | | | | December 31, 2022 | | December 31, 2021 | | December 31, 2020 | Total reportable segment adjusted gross profit | | $ | 300,898 | | $ | 155,595 | | $ | 107,819 | Other adjusted gross profit | | | (937) | | | (636) | | | (699) | Depreciation and amortization | | | (67,665) | | | (70,519) | | | (65,614) | Selling, general, and administrative expenses | | | (57,893) | | | (46,461) | | | (38,128) | Other income (expense), net | | | (36) | | | (880) | | | 723 | Interest expense, net | | | (36,323) | | | (38,704) | | | (40,034) | Change in fair value of warrant liabilities | | | (31,735) | | | (1,067) | | | 2,347 | Consolidated income (loss) before income taxes | | $ | 106,309 | | $ | (2,672) | | $ | (33,586) |
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Schedule of reconciliation of total segment assets to total combined assets |
| | | | | | | | | 2022 | | 2021 | Total reportable segment assets | | $ | 426,825 | | $ | 340,593 | Other assets | | | 3,240 | | | 3,489 | Other unallocated amounts | | | 341,662 | | | 169,310 | Total Assets | | $ | 771,727 | | $ | 513,392 |
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Schedule of unallocated assets consist of the following as reported in the combined balance sheets |
| | | | | | | | | December 31, | | December 31, | | | 2022 | | 2021 | Total current assets | | $ | 236,379 | | $ | 60,536 | Other intangible assets, net | | | 75,182 | | | 88,485 | Operating lease right-of-use assets, net | | | 27,298 | | | - | Deferred tax asset | | | - | | | 14,710 | Deferred financing costs revolver, net | | | 896 | | | 2,159 | Other non-current assets | | | 1,907 | | | 3,420 | Total other unallocated amounts of assets | | $ | 341,662 | | $ | 169,310 |
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