| Summary of the Financial Results, Aggregate Carrying Amounts of Assets and Liabilities Held for Sale and Significant Non-cash Items and Purchases of Property and Equipment |
The following table presents the financial results of the Community Living business (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended |
|
|
For the Nine Months Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Services revenue |
|
$ |
314,605 |
|
|
$ |
305,594 |
|
|
$ |
921,394 |
|
|
$ |
888,422 |
|
Cost of services |
|
|
212,251 |
|
|
|
220,574 |
|
|
|
628,048 |
|
|
|
649,645 |
|
Gross profit |
|
|
102,354 |
|
|
|
85,020 |
|
|
|
293,346 |
|
|
|
238,777 |
|
Selling, general, and administrative expenses |
|
|
70,940 |
|
|
|
57,277 |
|
|
|
195,423 |
|
|
|
163,871 |
|
Operating income of discontinued operations |
|
|
31,414 |
|
|
|
27,743 |
|
|
|
97,923 |
|
|
|
74,906 |
|
Interest expense, net |
|
|
7,404 |
|
|
|
9,447 |
|
|
|
22,901 |
|
|
|
29,154 |
|
Income of discontinued operations before incomes taxes |
|
|
24,010 |
|
|
|
18,296 |
|
|
|
75,022 |
|
|
|
45,752 |
|
Income tax expense of discontinued operations |
|
|
6,257 |
|
|
|
1,605 |
|
|
|
18,474 |
|
|
|
8,464 |
|
Income from discontinued operations, net of income taxes |
|
$ |
17,753 |
|
|
$ |
16,691 |
|
|
$ |
56,548 |
|
|
$ |
37,288 |
|
The following table presents the aggregate carrying amounts of assets and liabilities held for sale for the Community Living business in the unaudited condensed consolidated balance sheets (in thousands):
|
|
|
|
|
|
|
|
|
|
|
September 30, 2025 |
|
|
December 31, 2024 |
|
Assets |
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
956 |
|
|
$ |
299 |
|
Accounts receivable, net of allowance for credit losses |
|
|
129,707 |
|
|
|
125,872 |
|
Inventories |
|
|
3,652 |
|
|
|
4,007 |
|
Prepaid expenses and other current assets |
|
|
3,112 |
|
|
|
1,269 |
|
Total current assets held for sale |
|
|
137,427 |
|
|
|
131,447 |
|
Property and equipment, net of accumulated depreciation of $104,774 and $110,417 at
September 30, 2025 and December 31, 2024, respectively |
|
|
78,145 |
|
|
|
69,715 |
|
Goodwill |
|
|
307,640 |
|
|
|
307,640 |
|
Intangible assets, net of accumulated amortization |
|
|
216,192 |
|
|
|
216,258 |
|
Operating lease right-of-use assets, net |
|
|
121,676 |
|
|
|
88,717 |
|
Deferred income taxes, net |
|
|
287 |
|
|
|
287 |
|
Other assets |
|
|
2,479 |
|
|
|
5,343 |
|
Total assets held for sale |
|
$ |
863,846 |
|
|
$ |
819,407 |
|
Liabilities |
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Trade accounts payable |
|
$ |
20,860 |
|
|
$ |
17,366 |
|
Accrued expenses |
|
|
61,296 |
|
|
|
60,791 |
|
Current portion of obligations under operating leases |
|
|
33,095 |
|
|
|
30,755 |
|
Current portion of obligations under financing leases |
|
|
7,716 |
|
|
|
8,651 |
|
Total current liabilities held for sale |
|
|
122,967 |
|
|
|
117,563 |
|
Obligations under operating leases, net of current portion |
|
|
60,056 |
|
|
|
58,147 |
|
Obligations under financing leases, net of current portion |
|
|
13,068 |
|
|
|
18,461 |
|
Long-term liabilities |
|
|
522 |
|
|
|
569 |
|
Total liabilities held for sale |
|
$ |
196,613 |
|
|
$ |
194,740 |
|
The following table presents the significant non-cash items and purchases of property and equipment for the discontinued operations that are included in the accompanying unaudited condensed consolidated statements of cash flows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
For the Nine Months Ended |
|
|
|
September 30, |
|
|
|
2025 |
|
|
2024 |
|
Cash flows from discontinued operations operating activities: |
|
|
|
|
|
|
Depreciation and amortization |
|
$ |
1,329 |
|
|
$ |
30,132 |
|
Share-based compensation |
|
|
9,578 |
|
|
|
5,402 |
|
Impairment of long-lived assets |
|
|
— |
|
|
|
3,020 |
|
|
|
|
|
|
|
|
Cash flows from discontinued operations investing activities: |
|
|
|
|
|
|
Purchases of property and equipment |
|
|
8,755 |
|
|
|
7,708 |
|
|