Business Segments (Tables)
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12 Months Ended |
Dec. 31, 2023 |
Business Segments |
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Schedule of segment reporting information |
| | | | | | | | | | | | | 2023 | | | | | | | | | | | | | | | HFS – South | | Government | | All Other | | Total | Revenue | | $ | 148,677 | | $ | 403,724 | | $ | 11,207 | (a) | $ | 563,608 | Adjusted gross profit | | $ | 51,444 | | $ | 332,480 | | $ | (1,974) | | $ | 381,950 | Capital expenditures | | $ | 33,729 | | $ | 30,363 | | $ | 514 | | | | Total Assets | | $ | 184,453 | | $ | 207,409 | | $ | 30,987 | | $ | 422,849 |
| | | | | | | | | | | | | 2022 | | | | | | | | | | | | | | | HFS – South | | Government | | All Other | | Total | Revenue | | $ | 132,373 | | $ | 360,294 | | $ | 9,318 | (a) | $ | 501,985 | Adjusted gross profit | | $ | 54,558 | | $ | 246,598 | | $ | (1,195) | | $ | 299,961 | Capital expenditures | | $ | 8,686 | | $ | 130,871 | | $ | 339 | | | | Total Assets | | $ | 176,637 | | $ | 217,029 | | $ | 34,722 | | $ | 428,388 |
| | | | | | | | | | | | | 2021 | | | | | | | | | | | | | | | HFS – South | | Government | | All Other | | Total | Revenue | | $ | 116,958 | | $ | 156,250 | | $ | 18,129 | (a) | $ | 291,337 | Adjusted gross profit | | $ | 52,344 | | $ | 94,801 | | $ | 7,814 | | $ | 154,959 | Capital expenditures | | $ | 8,835 | | $ | 27,525 | | $ | 207 | | | |
(a) | Revenues from operating segments below the quantitative thresholds are reported in the “All Other” category previously described. |
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Schedule of reconciliation of total segment adjusted gross profit |
| | | | | | | | | | | | December 31, 2023 | | December 31, 2022 | | December 31, 2021 | Total reportable segment adjusted gross profit | | $ | 383,924 | | $ | 301,156 | | $ | 147,145 | Other adjusted gross profit | | | (1,974) | | | (1,195) | | | 7,814 | Depreciation and amortization | | | (83,977) | | | (67,665) | | | (70,519) | Selling, general, and administrative expenses | | | (56,126) | | | (57,893) | | | (46,461) | Other income (expense), net | | | (1,241) | | | (36) | | | (880) | Loss on extinguishment of debt | | | (2,279) | | | - | | | - | Interest expense, net | | | (22,639) | | | (36,323) | | | (38,704) | Change in fair value of warrant liabilities | | | 9,062 | | | (31,735) | | | (1,067) | Consolidated income (loss) before income taxes | | $ | 224,750 | | $ | 106,309 | | $ | (2,672) |
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Schedule of reconciliation of total segment assets to total combined assets |
| | | | | | | | | 2023 | | 2022 | Total reportable segment assets | | $ | 391,862 | | $ | 393,666 | Other assets | | | 32,871 | | | 36,399 | Other unallocated amounts | | | 269,620 | | | 341,662 | Total Assets | | $ | 694,353 | | $ | 771,727 |
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Schedule of unallocated assets consist of the following as reported in the combined balance sheets |
| | | | | | | | | December 31, | | December 31, | | | 2023 | | 2022 | Total current assets | | $ | 180,500 | | $ | 236,379 | Other intangible assets, net | | | 66,282 | | | 75,182 | Operating lease right-of-use assets, net | | | 19,698 | | | 27,298 | Deferred financing costs revolver, net | | | 2,479 | | | 896 | Other non-current assets | | | 661 | | | 1,907 | Total other unallocated amounts of assets | | $ | 269,620 | | $ | 341,662 |
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