← Surgery Partners, Inc.
| Annual Trend | FY 2015 | FY 2016 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income From Continuing Operations | $72.8m | $85.1m | ($95.6m) | $45.1m | $1.3m | $70.7m | $87.0m | $135.3m | $12.5m | $98.9m | $97.1m | |
| Net loss on disposals, consolidations and deconsolidations | — | $2.4m | $31.8m | ($4.4m) | $5.7m | $2.2m | $11.1m | $14.4m | $40.6m | $30.4m | — | |
| Net Income (Loss) Attributable to Parent | $1.4m |
$9.5m
+561.51%
|
($205.7m)
-2276.09%
|
($74.8m)
+63.64%
|
($116.1m)
-55.21%
|
($70.9m)
+38.93%
|
($54.6m)
+22.99%
|
($11.9m)
+78.21%
|
($168.1m)
-1312.61%
|
($77.9m)
+53.66%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | $72.8m |
$85.1m
+16.80%
|
($238.1m)
-379.88%
|
($110.5m)
+53.60%
|
($155.6m)
-40.81%
|
($81.2m)
+47.81%
|
($54.6m)
+32.76%
|
($11.9m)
+78.21%
|
$12.5m
+205.04%
|
$98.9m
+691.20%
|
— | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $71.4m | $75.6m | $110.1m | $119.9m | $117.4m | $141.6m | $141.6m | $147.2m | $180.6m | $176.8m | — | |
| Depreciation, Depletion and Amortization | $34.5m | $39.6m | $67.4m | $76.5m | $94.8m | $98.8m | $114.8m | $118.1m | $152.6m | $176.0m | $178.2m | |
| Depreciation | $34.5m | $39.6m | $62.5m | $71.9m | $90.5m | $94.5m | $112.1m | $112.8m | $144.8m | $170.2m | $178.2m | |
| Amortization of Debt Issuance Costs and Discounts | $6.3m | $7.2m | ($3.0m) | ($8.9m) | ($8.5m) | ($11.7m) | $0 | ($24.3m) | ($14.9m) | ($4.1m) | — | |
| Amortization of Intangible Assets | $9.1m | $9.6m | $4.9m | $4.6m | $4.3m | $4.3m | $6.4m | $7.6m | $8.7m | $6.1m | — | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $114.8m | $118.1m | $152.6m | $176.0m | $178.2m | |
| Deferred Income Tax Expense (Benefit) | ($149.9m) | $6.9m | $25.3m | $8.5m | ($21.9m) | $8.9m | $21.9m | ($1.7m) | $131.5m | $16.7m | $15.7m | |
| Deferred Tax | — | — | — | — | — | — | $21.9m | ($1.7m) | $131.5m | $16.7m | $15.7m | |
| Share-based Payment Arrangement, Noncash Expense | $7.5m | $2.0m | $9.3m | $10.2m | $13.2m | $17.4m | $18.4m | $17.7m | $33.3m | $14.8m | $13.0m | |
| Share-based Payment Arrangement, Expense | — | — | $9.3m | $10.2m | $13.2m | $17.4m | $18.4m | $17.7m | $33.3m | $14.8m | $13.0m | |
| Goodwill, Impairment Loss | $0 | $0 | — | $5.4m | $5.4m | $0 | $0 | $0 | $0 | $0 | $0 | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | $74.4m | $2.5m | $33.5m | $0 | — | — | — | — | — | |
| Asset Impairment Charge | — | — | — | — | — | $0 | $0 | — | — | — | $0 | |
| Equity Method Investment, Realized Gain (Loss) on Disposal | — | — | — | — | — | — | — | — | ($10.0m) | — | — | |
| Income (Loss) from Equity Method Investments | $3.8m | $4.8m | $8.9m | $10.2m | $10.8m | $11.3m | $12.5m | $14.2m | $19.5m | $22.9m | — | |
| Other Nonoperating Income (Expense) | — | — | — | — | — | — | — | $8.6m | — | — | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | ($1.8m) | ($2.2m) | ($2.0m) | ($800k) | $700k | |
| Purchases of equity investments | — | — | $0 | ($15.2m) | $0 | $0 | ($95.1m) | ($50.3m) | ($1.7m) | ($13.3m) | — | |
| Proceeds from sales of equity investments | — | — | — | — | $0 | $5.4m | $12.8m | $1.4m | $4.6m | $1.5m | — | |
| Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | $543k | $846k | ($243k) | ($300k) | ($500k) | ($200k) | $1.8m | $2.2m | $2.0m | $800k | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Change In Working Capital | — | — | — | — | — | — | ($102.3m) | ($63.5m) | ($118.9m) | ($110.4m) | ($103.1m) | |
| Increase (Decrease) in Accounts Receivable | $48.8m | $60.6m | $22.8m | $23.5m | $46.6m | $32.1m | $35.3m | $47.2m | $72.1m | $53.8m | ($55.0m) | |
| Change In Receivables | — | — | — | — | — | — | ($35.3m) | ($47.2m) | ($72.1m) | ($53.8m) | ($55.0m) | |
| Changes In Account Receivables | — | — | — | — | — | — | ($35.3m) | ($47.2m) | ($72.1m) | ($53.8m) | ($55.0m) | |
| Accounts receivable | ($48.8m) | ($60.6m) | ($22.8m) | ($23.5m) | ($46.6m) | ($32.1m) | ($35.3m) | ($47.2m) | ($72.1m) | ($53.8m) | ($55.0m) | |
| Other operating assets and liabilities | $4.4m | $17.2m | $56.0m | ($45.3m) | ($12.7m) | ($43.4m) | ($67.0m) | ($15.1m) | ($46.8m) | ($56.6m) | — | |
| Proceeds from disposals of facilities and other assets | — | — | $19.2m | $17.6m | $58.5m | $6.0m | $12.9m | $25.8m | $2.6m | $46.5m | — | |
| Net Cash Provided by (Used in) Operating Activities | $84.5m |
$125.2m
+48.25%
|
$144.6m
+15.46%
|
$129.5m
-10.44%
|
$246.9m
+90.66%
|
$87.1m
-64.72%
|
$158.8m
+82.32%
|
$293.8m
+85.01%
|
$300.1m
+2.14%
|
$274.3m
-8.60%
|
$280.0m
+2.08%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $33.4m | $39.1m | $39.8m | $73.6m | $42.9m | $57.6m | $80.6m | $88.8m | $90.4m | $78.7m | ($72.0m) | |
| Payments for acquisitions, net of cash acquired | ($112.6m) | ($146.4m) | ($106.8m) | ($13.8m) | ($104.6m) | ($285.8m) | ($146.4m) | ($80.0m) | ($378.8m) | ($162.1m) | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | $112.6m | $146.4m | $106.8m | $13.8m | $104.6m | $285.8m | $146.4m | $80.0m | $378.8m | $162.1m | ($131.8m) | |
| Payments for (Proceeds from) Other Investing Activities | — | — | $1.5m | $200k | ($600k) | ($300k) | $11.5m | $33.7m | $24.8m | $40.5m | — | |
| Net Other Investing Changes | — | — | — | — | — | — | ($11.5m) | ($33.7m) | ($24.8m) | ($40.5m) | ($23.9m) | |
| Other investing activities | — | $0 | ($1.5m) | ($200k) | $600k | $300k | ($11.5m) | ($33.7m) | ($24.8m) | ($40.5m) | — | |
| Net Cash Provided by (Used in) Investing Activities | ($134.8m) | ($184.7m) | ($128.9m) | ($85.2m) | ($88.4m) | ($331.7m) | ($307.9m) | ($225.6m) | ($488.5m) | ($246.6m) | ($183.6m) | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | ($16.1m) | ($11.9m) | $0 | ($11.7m) | $0 | ($9.1m) | ($14.9m) | ($15.5m) | ($5.1m) | ($1.3m) | — | |
| Loss on debt extinguishment | $16.1m | $11.9m | $0 | $11.7m | $0 | $9.1m | $14.9m | $15.5m | $5.1m | $1.3m | — | |
| Borrowings of long-term debt | $196.4m | $650.7m | $282.7m | $506.9m | $429.4m | $299.4m | $217.8m | $826.6m | $1.7b | $1.2b | — | |
| Proceeds from Issuance of Long-term Debt | $196.4m | $650.7m | $282.7m | $506.9m | $429.4m | $299.4m | $217.8m | $826.6m | $1.7b | $1.2b | $1.2b | |
| Issuance Of Debt | — | — | — | — | — | — | $217.8m | $826.6m | $1.7b | $1.2b | $1.2b | |
| Long Term Debt Issuance | — | — | — | — | — | — | $217.8m | $826.6m | $1.7b | $1.2b | $1.2b | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | ($644.2m) | $19.5m | $450.4m | $162.8m | $70.1m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($644.2m) | $19.5m | $450.4m | $162.8m | $70.1m | |
| Payments of debt issuance costs | $0 | ($14.3m) | ($3.0m) | ($8.9m) | ($8.5m) | ($11.7m) | $0 | ($24.3m) | ($14.9m) | ($4.1m) | — | |
| Repayments of Long-term Debt | $328.3m | $473.4m | $157.6m | $490.8m | $216.3m | $343.2m | $862.0m | $807.1m | $1.3b | $1.0b | ($1.1b) | |
| Long Term Debt Payments | — | — | — | — | — | — | ($862.0m) | ($807.1m) | ($1.3b) | ($1.0b) | ($1.1b) | |
| Repayment Of Debt | — | — | — | — | — | — | ($862.0m) | ($807.1m) | ($1.3b) | ($1.0b) | ($1.1b) | |
| Principal payments on long-term debt | ($328.3m) | ($473.4m) | ($157.6m) | ($490.8m) | ($216.3m) | ($343.2m) | ($862.0m) | ($807.1m) | ($1.3b) | ($1.0b) | — | |
| Issuance Of Capital Stock | — | — | — | — | — | $581.8m | $882.9m | $0 | $0 | — | $0 | |
| Proceeds from Issuance of Common Stock | — | — | — | — | — | $581.8m | $882.9m | $0 | $0 | — | $0 | |
| Common Stock Issuance | — | — | — | — | — | $581.8m | $882.9m | $0 | $0 | — | $0 | |
| Payments for Repurchase of Common Stock | $0 | $0 | $2.0m | $0 | $0 | — | — | — | — | — | — | |
| Dividends Payable | — | — | $0 | $0 | $0 | — | — | — | — | — | — | |
| Cash Dividends Paid | — | — | — | — | — | ($5.1m) | $0 | $0 | — | — | — | |
| Preferred Stock Dividend Paid | — | — | — | — | — | ($5.1m) | $0 | $0 | — | — | — | |
| Proceeds from (Payments for) Other Financing Activities | $3.6m | ($924k) | ($1.2m) | ($900k) | ($900k) | ($17.9m) | ($9.9m) | ($12.5m) | ($12.6m) | $9.4m | — | |
| Net Other Financing Charges | — | — | — | — | — | — | ($196.6m) | ($174.7m) | ($188.4m) | ($220.1m) | ($213.5m) | |
| Net cash (used in) provided by financing activities | $33.4m |
$71.3m
+113.57%
|
($6.3m)
-108.90%
|
($135.9m)
-2042.18%
|
$66.7m
+149.08%
|
$316.3m
+374.21%
|
$42.1m
-86.69%
|
($155.2m)
-468.65%
|
$262.0m
+268.81%
|
($57.3m)
-121.87%
|
— | |
| Net Cash Provided by (Used in) Financing Activities | $33.4m |
$71.3m
+113.57%
|
($6.3m)
-108.90%
|
($135.9m)
-2042.18%
|
$66.7m
+149.08%
|
$316.3m
+374.21%
|
$42.1m
-86.69%
|
($155.2m)
-468.65%
|
$262.0m
+268.81%
|
($57.3m)
-121.87%
|
($143.4m)
-150.26%
|
|
| Net (decrease) increase in cash and cash equivalents | ($17.0m) | $11.8m | $9.4m | ($91.6m) | $225.2m | $71.7m | ($107.0m) | ($87.0m) | $73.6m | ($29.6m) | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($17.0m) | $11.8m | $9.4m | ($91.6m) | $225.2m | $71.7m | ($107.0m) | ($87.0m) | $73.6m | ($29.6m) | $182.3m | |
| Beginning Cash Position | — | — | — | — | — | — | $389.9m | $282.9m | $195.9m | $269.5m | $229.3m | |
| Cash and cash equivalents at beginning of period | $74.9m | $57.9m | $184.6m | $93.0m | $318.2m | $389.9m | $282.9m | $195.9m | $269.5m | $239.9m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $184.6m | $93.0m | $318.2m | $389.9m | $282.9m | $195.9m | $269.5m | $239.9m | $182.3m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Gain (Loss) on Disposition of Assets | $2.1m | ($2.4m) | ($31.8m) | — | — | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | ($149.0m) | $7.1m | $26.5m | $9.5m | ($20.1m) | $10.5m | $23.3m | ($300k) | $134.6m | $18.0m | — | |
| Operating Lease, Expense | — | — | — | — | $39.4m | $39.1m | $34.8m | $35.2m | $38.9m | $37.8m | — | |
| Non-cash interest expense, net | — | $7.9m | ($1.4m) | $2.5m | $4.5m | $22.0m | $25.9m | $25.0m | $6.5m | $9.6m | — | |
| Additional Financial Items | ||||||||||||
| Gain (Loss) Related to Litigation Settlement | — | $14.1m | ($46.0m) | ($200k) | ($1.2m) | $0 | $29.3m | ($10.6m) | $800k | ($7.3m) | — | |
| General and Administrative Expense | $56.0m | $60.2m | $93.6m | $88.6m | $97.1m | $104.0m | $102.2m | $120.9m | $138.7m | $118.2m | — | |
| Goodwill | $1.4b | $1.6b | $3.4b | $3.4b | $3.5b | $3.9b | $4.1b | $4.3b | $5.1b | $5.2b | $0 | |
| Operating Costs and Expenses | — | — | — | — | $1.5b | $1.7b | $2.0b | $2.1b | $2.4b | $2.5b | — | |
| Operating Expenses | $815.1m | $949.0m | $1.7b | — | $1.7b | $1.9b | $2.2b | $2.4b | $2.8b | $2.9b | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | $1.8b | $1.8b | $1.9b | $2.2b | $2.5b | $2.7b | $3.1b | $3.3b | — | |
| Operating Cash Flow | $84.5m |
$125.2m
+48.25%
|
$144.6m
+15.46%
|
$129.5m
-10.44%
|
$246.9m
+90.66%
|
$87.1m
-64.72%
|
$158.8m
+82.32%
|
$293.8m
+85.01%
|
$300.1m
+2.14%
|
$274.3m
-8.60%
|
$280.0m
+2.08%
|
|
| Cash Flow From Continuing Operating Activities | $84.5m | $125.2m | $144.6m | $129.5m | $246.9m | $87.1m | $158.8m | $293.8m | $300.1m | $274.3m | $280.0m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $42.1m | ($155.2m) | $262.0m | ($57.3m) | ($143.4m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($307.9m) | ($225.6m) | ($488.5m) | ($246.6m) | ($183.6m) | |
| Change In Other Working Capital | — | — | — | — | — | — | ($67.0m) | ($16.3m) | ($46.8m) | ($56.6m) | ($48.1m) | |
| Changes In Cash | — | — | — | — | — | — | ($107.0m) | ($87.0m) | $73.6m | ($29.6m) | ($47.0m) | |
| End Cash Position | — | — | — | — | — | — | $282.9m | $195.9m | $269.5m | $239.9m | $182.3m | |
| Financing Cash Flow | — | — | — | — | — | — | $42.1m |
($155.2m)
-468.65%
|
$262.0m
+268.81%
|
($57.3m)
-121.87%
|
($143.4m)
-150.26%
|
|
| Free Cash Flow | — | — | — | — | — | — | $78.2m | $205.0m | $209.7m | $195.6m | $208.0m | |
| Gain Loss On Sale Of Business | — | — | — | — | — | — | $11.1m | $14.4m | $40.6m | $30.4m | $28.3m | |
| Investing Cash Flow | — | — | — | — | — | — | ($307.9m) | ($225.6m) | ($488.5m) | ($246.6m) | ($183.6m) | |
| Net Business Purchase And Sale | — | — | — | — | — | — | ($228.7m) | ($128.9m) | ($375.9m) | ($173.9m) | ($129.4m) | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($67.7m) | ($63.0m) | ($87.8m) | ($32.2m) | ($30.3m) | |
| Operating Gains Losses | — | — | — | — | — | — | $24.2m | $27.7m | $43.7m | $30.9m | $30.3m | |
| Other Non Cash Items | — | — | — | — | — | — | ($5.2m) | $60.2m | $45.4m | $47.4m | — | |
| Purchase Of Business | — | — | — | — | — | — | ($241.5m) | ($130.3m) | ($380.5m) | ($175.4m) | ($131.8m) | |
| Purchase Of PPE | — | — | — | — | — | — | ($80.6m) | ($88.8m) | ($90.4m) | ($78.7m) | ($72.0m) | |
| Sale Of Business | — | — | — | — | — | — | $12.8m | $1.4m | $4.6m | $1.5m | $1.5m | |
| Sale Of PPE | — | — | — | — | — | — | $12.9m | $25.8m | $2.6m | $46.5m | $41.7m | |
| Stock Based Compensation | — | — | — | — | — | — | $18.4m | $17.7m | $33.3m | $14.8m | $13.0m | |
| Non-cash lease expense | — | — | $0 | $40.0m | $39.4m | $39.1m | $34.8m | $35.2m | $38.9m | $37.8m | — | |
| Equity-based compensation expense | $7.5m | $2.0m | $9.3m | $10.2m | $13.2m | $17.4m | $18.4m | $17.7m | $33.3m | $14.8m | — | |
| Equity in earnings of unconsolidated affiliates, net of distributions received | ($543k) | ($846k) | $243k | $300k | $500k | $200k | ($1.8m) | ($2.2m) | ($2.0m) | ($800k) | — | |
| Distributions to non-controlling interest holders | ($69.7m) | ($65.8m) | ($109.0m) | ($121.2m) | ($109.6m) | ($131.0m) | ($146.8m) | ($146.1m) | ($170.5m) | ($226.0m) | — | |
| Proceeds (payments) related to ownership transactions with non-controlling interest holders | ($12.2m) | ($20.1m) | ($2.2m) | ($3.2m) | — | ($28.4m) | ($3.4m) | $8.2m | $9.6m | $600k | — | |
| Proceeds from (Payments to) Noncontrolling Interests | $12.2m | $20.1m | ($2.2m) | ($3.2m) | — | $28.4m | $3.4m | $8.2m | $9.6m | $600k | — | |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($107.0m) | ($87.0m) | $73.6m | ($29.6m) | — | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $96.8m | $79.3m | $145.4m | $180.3m | $203.6m | $194.3m | $218.7m | $169.6m | $199.7m | $256.8m | — | |
| Income Taxes Paid, Net | $1.1m | $661k | $2.2m | $1.6m | $1.7m | $1.5m | $1.8m | $1.4m | $1.6m | $1.2m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.