v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Segment information is prepared on the same basis that our Chief Executive Officer, who is our Chief Operating Decision Maker ("CODM"), manages our segments, evaluates financial results, and makes key operating decisions. We have one reportable segment: Surgical Facilities.
The Surgical Facilities reportable segment is comprised of two operating segments, which we have aggregated to a single reportable segment in consideration of the aggregation criteria set forth in ASC 280.
The Surgical Facilities reportable segment includes the operation of ASCs, surgical hospitals, anesthesia services, and multi-specialty physician practices, which earns revenues primarily from contracts with patients in which the performance obligations are to provide health care services. The "All other" line item primarily consists of amounts attributable to the Company's corporate general and administrative
functions. The Company defines its segments on the basis of the way in which its internally reported financial information is regularly reviewed by the CODM to assess performance and allocate resources.
The Company’s CODM uses Adjusted EBITDA to assess performance and allocate resources. The CODM considers budget-to-actual and actual versus prior period variances on a periodic basis as a means of assessing performance. The following segment information, including significant segment expenses, is presented in millions:

Three Months Ended March 31,
20262025
Surgical Facilities Revenues$810.9 $776.0 
Less:
Salaries and benefits
247.4 238.6 
Supplies
220.2 215.8 
Professional and medical fees
101.3 95.3 
Lease expense23.0 20.8 
Other segment items (1)
84.2 73.5 
676.1 644.0 
Adjusted Surgical Facilities EBITDA$134.8 $132.0 
Reconciliation:
Add back: Net income attributable to non-controlling interests(33.8)(37.4)
Unallocated amounts:
General and administrative expenses39.3 36.0 
Transaction and integration costs15.6 24.7 
Other corporate expenses9.4 10.5 
Depreciation and amortization38.5 36.3 
Interest expense, net69.1 62.2 
Income (loss) before income taxes
$(3.3)$(0.3)
(1)Other segment items includes equity in earnings of unconsolidated affiliates, net income attributable to non-controlling interests and other expenses, net.
Three Months Ended March 31,
20262025
Depreciation and amortization:
Surgical Facilities$35.9 $33.8 
All other2.6 2.5 
Total depreciation and amortization expense$38.5 $36.3 
March 31, 2026December 31, 2025
Assets:
Surgical Facilities
$7,608.0 $7,643.9 
All other434.1 475.8 
Total assets$8,042.1 $8,119.7 
Three Months Ended March 31,
20262025
Cash purchases of property and equipment:
Surgical Facilities
$16.0 $21.8 
All other— 0.9 
Total cash purchases of property and equipment$16.0 $22.7