← Surgery Partners, Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and Cash Equivalents, at Carrying Value | $69.7m | $174.9m | $184.3m | $92.7m | $317.9m | $389.9m | $282.9m | $195.9m | $269.5m | $239.9m | |
| Prepaid Expense and Other Assets, Current | $32.0m | $55.3m | — | — | — | — | — | — | — | — | |
| Accounts Receivable | — | — | — | — | — | — | $456.3m | $496.4m | $579.1m | $602.2m | |
| Cash And Cash Equivalents | — | — | — | — | — | — | $282.9m | $195.9m | $269.5m | $239.9m | |
| Cash Cash Equivalents And Short Term Investments | — | — | — | — | — | — | $282.9m | $195.9m | $269.5m | $239.9m | |
| Other Current Assets | — | — | — | — | — | — | $110.4m | $127.5m | $182.4m | $212.0m | |
| Prepaid Assets | — | — | — | — | — | $25.6m | $31.4m | $31.0m | — | — | |
| Cash and cash equivalents | $69.7m | $174.9m | $184.3m | $92.7m | $317.9m | $389.9m | $282.9m | $195.9m | $269.5m | $239.9m | |
| Accounts receivable | $220.6m | $288.0m | $307.6m | $326.9m | $382.2m | $430.2m | $456.3m | $496.4m | $579.1m | $602.2m | |
| Prepaid expenses | — | $16.8m | $16.2m | $17.8m | $17.6m | $25.6m | $31.4m | $31.0m | $36.4m | $41.1m | |
| Other current assets | — | $38.5m | $36.8m | $41.8m | $27.4m | $39.3m | $79.0m | $96.5m | $146.0m | $170.9m | |
| Inventory, Net | $28.8m | $45.0m | $43.4m | $46.3m | $56.4m | $61.1m | $71.4m | $75.2m | $88.4m | $96.6m | |
| Assets, Current | $362.0m | $563.2m | $588.3m | $525.5m | $801.5m | $946.1m | $921.0m | $895.0m | $1.1b | $1.2b | |
| Total current assets | $362.0m | $563.2m | $588.3m | $525.5m | $801.5m | $946.1m | $921.0m | $895.0m | $1.1b | $1.2b | |
| Property and equipment, net | $204.3m | $398.5m | $426.3m | $523.3m | $544.6m | $629.7m | $876.6m | $968.7m | $1.1b | $1.2b | |
| Goodwill | $1.6b | $3.3b | $3.4b | $3.4b | $3.5b | $3.9b | $4.1b | $4.3b | $5.1b | $5.2b | |
| Intangible Assets, Net (Excluding Goodwill) | $48.0m | $58.9m | $54.3m | $47.3m | $46.9m | $43.7m | $42.3m | $54.8m | $45.7m | $41.0m | |
| Goodwill And Other Intangible Assets | — | — | — | — | — | — | $4.2b | $4.4b | $5.1b | $5.2b | |
| Other Intangible Assets | — | — | — | — | — | — | $42.3m | $54.8m | $45.7m | $41.0m | |
| Intangible assets, net | $48.0m | $58.9m | $54.3m | $47.3m | $46.9m | $43.7m | $42.3m | $54.8m | $45.7m | $41.0m | |
| Operating Lease, Right-of-Use Asset | — | — | — | $297.7m | $310.1m | $324.1m | $279.1m | $255.3m | $295.7m | $289.2m | |
| Other Assets, Noncurrent | $16.4m | $48.4m | $36.9m | $328.5m | $27.0m | $59.1m | $144.2m | $103.3m | $57.5m | $56.8m | |
| Right-of-use operating lease assets | — | — | — | $297.7m | $310.1m | $324.1m | $279.1m | $255.3m | $295.7m | $289.2m | |
| Other long-term assets | $16.4m | $48.4m | $36.9m | $328.5m | $27.0m | $59.1m | $144.2m | $103.3m | $57.5m | $56.8m | |
| Right-of-use operating lease liabilities | — | — | — | $283.1m | $300.9m | $315.6m | $271.4m | $248.9m | $292.1m | $279.9m | |
| Additional Financial Items | |||||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $220.6m | $288.0m | $307.6m | $326.9m | $382.2m | $430.2m | $456.3m | $496.4m | $579.1m | $602.2m | |
| Accumulated Depreciation | — | — | — | — | — | — | ($374.3m) | ($454.4m) | ($553.9m) | ($651.2m) | |
| Buildings And Improvements | — | — | — | — | — | — | $164.0m | $225.3m | $258.7m | $274.9m | |
| Capital Lease Obligations | — | — | — | — | — | — | $307.9m | $286.5m | $333.1m | $322.6m | |
| Construction In Progress | — | — | — | — | — | — | $58.1m | $24.2m | $54.7m | $49.2m | |
| Current Accrued Expenses | — | — | — | — | — | — | $158.3m | $192.5m | $216.7m | $213.5m | |
| Current Capital Lease Obligation | — | — | — | — | — | — | $36.5m | $37.6m | $41.0m | $42.7m | |
| Current Debt | — | — | — | — | — | — | $62.8m | $73.3m | $101.4m | $99.3m | |
| Current Debt And Capital Lease Obligation | — | — | — | — | — | — | $99.3m | $110.9m | $142.4m | $142.0m | |
| Current Deferred Liabilities | — | — | — | — | — | $64.4m | $3.2m | — | — | — | |
| Gross PPE | — | — | — | — | — | — | $1.5b | $1.7b | $1.9b | $2.1b | |
| Interest Payable | — | — | — | — | — | — | $19.4m | $17.8m | $13.4m | $19.5m | |
| Invested Capital | — | — | — | — | — | — | $4.6b | $4.8b | $5.2b | $5.4b | |
| Investments And Advances | — | — | — | — | — | — | $190.3m | $184.1m | $215.4m | $234.0m | |
| Investments In Other Ventures Under Equity Method | — | — | — | — | — | — | $190.3m | $184.1m | $215.4m | $234.0m | |
| Land And Improvements | — | — | — | — | — | — | $11.1m | $9.2m | $9.7m | $5.9m | |
| Long Term Capital Lease Obligation | — | — | — | — | — | — | $271.4m | $248.9m | $292.1m | $279.9m | |
| Long Term Equity Investment | — | — | — | — | — | — | $190.3m | $184.1m | $215.4m | $234.0m | |
| Machinery Furniture Equipment | — | — | — | — | — | — | $123.3m | $138.0m | $152.7m | $163.2m | |
| Net Debt | — | — | — | — | — | — | $2.3b | $2.6b | $3.1b | $3.5b | |
| Net PPE | — | — | — | — | — | — | $1.2b | $1.2b | $1.4b | $1.4b | |
| Net Tangible Assets | — | — | — | — | — | — | ($2.2b) | ($2.4b) | ($3.3b) | ($3.5b) | |
| Non Current Deferred Assets | — | — | — | — | — | $114.4m | $91.5m | $89.5m | $0 | — | |
| Non Current Deferred Liabilities | — | — | — | — | — | — | — | $0 | $39.2m | $53.4m | |
| Non Current Deferred Taxes Assets | — | — | — | — | — | $114.4m | $91.5m | $89.5m | $0 | — | |
| Ordinary Shares Number | — | — | — | — | — | — | $126.0m | $126.6m | $127.1m | $129.3m | |
| Other Current Borrowings | — | — | — | — | — | — | $62.8m | $73.3m | $101.4m | $99.3m | |
| Other Current Liabilities | — | — | — | — | — | — | $52.3m | $23.9m | $24.8m | $4.7m | |
| Other Equity Adjustments | — | — | — | — | — | — | $76.2m | $57.5m | $4.8m | ($13.8m) | |
| Other Non Current Assets | — | — | — | — | — | — | $144.2m | $103.3m | $57.5m | $56.8m | |
| Other Non Current Liabilities | — | — | — | — | — | — | $75.4m | $41.1m | $30.2m | $41.2m | |
| Other Payable | — | — | — | — | — | — | $31.9m | $23.9m | $31.8m | $46.6m | |
| Other Properties | — | — | — | — | — | — | $1.2b | $1.3b | $1.5b | $1.6b | |
| Properties | — | — | — | — | — | — | $0 | $0 | $0 | $0 | |
| Share Issued | — | — | — | — | — | — | $126.0m | $126.6m | $127.1m | $129.3m | |
| Tangible Book Value | — | — | — | — | — | — | ($2.2b) | ($2.4b) | ($3.3b) | ($3.5b) | |
| Working Capital | — | — | — | — | — | — | $427.6m | $372.0m | $495.0m | $535.2m | |
| Investments in and advances to affiliates | $35.0m | $74.3m | $78.5m | $93.2m | $90.3m | $88.7m | $190.3m | $184.1m | $215.4m | $234.0m | |
| Other current liabilities | $69.0m | $109.9m | $155.2m | $191.2m | $217.0m | $210.0m | $206.9m | $204.1m | $253.9m | $242.6m | |
| Non-controlling interests—redeemable | $180.5m | $299.3m | $326.6m | $321.0m | $306.8m | $330.2m | $342.0m | $327.4m | $438.8m | $395.5m | |
| Retained deficit | ($311.4m) | ($41.3m) | ($247.0m) | ($315.7m) | ($431.8m) | ($502.7m) | ($557.3m) | ($569.2m) | ($737.3m) | ($815.2m) | |
| Non-controlling interests—non-redeemable | $315.0m | $681.9m | $694.3m | $686.6m | $766.5m | $880.6m | $942.7m | $1.0b | $1.4b | $1.4b | |
| Total Capitalization | — | — | — | — | — | — | $4.6b | $4.7b | $5.1b | $5.3b | |
| Total Debt | — | — | — | — | — | — | $2.9b | $3.1b | $3.7b | $4.0b | |
| Total Non Current Assets | — | — | — | — | — | — | $5.8b | $6.0b | $6.8b | $7.0b | |
| Total Surgery Partners, Inc. stockholders' equity | $9.7m | $654.7m | $404.6m | $296.8m | $115.6m | $1.1b | $2.0b | $2.0b | $1.8b | $1.7b | |
| Assets | $2.3b | $4.6b | $4.7b | $5.0b | $5.4b | $6.1b | $6.7b | $6.9b | $7.9b | $8.1b | |
| Total Assets | $2.3b | $4.6b | $4.7b | $5.0b | $5.4b | $6.1b | $6.7b | $6.9b | $7.9b | $8.1b | |
| Total assets | $2.3b | $4.6b | $4.7b | $5.0b | $5.4b | $6.1b | $6.7b | $6.9b | $7.9b | $8.1b | |
| LIABILITIES AND EQUITY | |||||||||||
| Total liabilities and stockholders' equity | $2.3b | $4.6b | $4.7b | $5.0b | $5.4b | $6.1b | $6.7b | $6.9b | $7.9b | $8.1b | |
| Current liabilities: | |||||||||||
| Operating Lease, Liability, Current | — | — | — | $37.3m | $39.2m | $40.1m | $36.5m | $37.6m | $41.0m | $42.7m | |
| Accounts Payable, Current | $49.8m | $84.7m | $83.3m | $96.7m | $100.2m | $124.9m | $151.6m | $171.8m | $208.7m | $208.7m | |
| Operating Lease, Liability, Noncurrent | — | — | — | $283.1m | $300.9m | $315.6m | $271.4m | $248.9m | $292.1m | $279.9m | |
| Dividends Payable | — | $3.9m | $0 | $0 | $0 | — | — | — | — | — | |
| Current Deferred Revenue | — | — | — | — | — | $64.4m | $3.2m | — | — | — | |
| Payables And Accrued Expenses | — | — | — | — | — | — | $341.8m | $388.2m | $457.2m | $468.8m | |
| Accrued payroll and benefits | $29.3m | $49.6m | $55.2m | $54.2m | $65.4m | $77.1m | $68.9m | $73.8m | $60.4m | $64.9m | |
| Current maturities of long-term debt | $27.8m | $58.7m | $55.6m | $56.0m | $64.4m | $60.4m | $62.8m | $73.3m | $101.4m | $99.3m | |
| Long-term debt, less current maturities | $1.4b | $2.1b | $2.3b | $2.5b | $2.8b | $2.9b | $2.6b | $2.7b | $3.3b | $3.6b | |
| Liabilities, Current | $186.7m | $303.0m | $349.3m | $398.1m | $556.8m | $536.8m | $493.4m | $523.0m | $624.4m | $615.5m | |
| Total current liabilities | $186.7m | $303.0m | $349.3m | $398.1m | $556.8m | $536.8m | $493.4m | $523.0m | $624.4m | $615.5m | |
| Deferred Income Tax Liabilities, Net | — | $65.1m | $64.6m | $60.1m | — | — | — | $0 | $39.2m | $53.4m | |
| Other Liabilities, Noncurrent | $76.3m | $178.7m | $271.2m | $396.7m | $139.7m | $87.0m | $75.4m | $41.1m | $30.2m | $41.2m | |
| Long-term Debt | $1.5b | $2.2b | $2.3b | $2.6b | $2.9b | $3.0b | $2.6b | $2.8b | $3.4b | $3.7b | |
| Long Term Debt And Capital Lease Obligation | — | — | — | — | — | — | $2.8b | $3.0b | $3.6b | $3.9b | |
| Non Current Deferred Taxes Liabilities | — | — | — | — | — | — | — | $0 | $39.2m | $53.4m | |
| Long-term deferred tax liabilities | — | — | — | — | — | — | — | $0 | $39.2m | $53.4m | |
| Other long-term liabilities | $76.3m | $178.7m | $271.2m | $396.7m | $139.7m | $87.0m | $75.4m | $41.1m | $30.2m | $41.2m | |
| Deferred Tax Liabilities, Net | — | — | — | — | — | — | — | $0 | $39.2m | $53.4m | |
| Total Liabilities Net Minority Interest | — | — | — | — | — | — | $3.4b | $3.5b | $4.3b | $4.6b | |
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | $180.5m | $299.3m | $326.6m | $321.0m | $306.8m | $330.2m | $342.0m | $327.4m | $438.8m | $395.5m | |
| Stockholders’ equity: | |||||||||||
| Preferred Stock, Value, Issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Additional Paid in Capital | $320.5m | $695.6m | $673.6m | $662.7m | $607.9m | $1.6b | $2.5b | $2.5b | $2.5b | $2.5b | |
| Retained Earnings (Accumulated Deficit) | ($311.4m) | ($41.3m) | ($247.0m) | ($315.7m) | ($431.8m) | ($502.7m) | ($557.3m) | ($569.2m) | ($737.3m) | ($815.2m) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | — | $0 | ($22.4m) | ($50.7m) | ($61.0m) | ($31.5m) | $76.2m | $57.5m | $4.8m | ($13.8m) | |
| Common Stock Equity | — | — | — | — | — | — | $2.0b | $2.0b | $1.8b | $1.7b | |
| Capital Stock | — | — | — | — | — | — | $1.3m | $1.3m | $1.3m | $1.3m | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | — | — | — | $76.2m | $57.5m | $4.8m | ($13.8m) | |
| Preferred Stock | — | — | — | — | — | — | $0 | $0 | $0 | $0 | |
| Preferred stock, $0.01 par value; shares authorized - 20,310,000; shares issued or outstanding - none | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.01 par value; shares authorized - 300,000,000; shares issued and outstanding - 129,321,144 and 127,109,383, respectively | 485k | 487k | 489k | 500k | 500k | 900k | 1.3m | 1.3m | 1.3m | 1.3m | |
| Accumulated other comprehensive (loss) income | — | $0 | ($22.4m) | ($50.7m) | ($61.0m) | ($31.5m) | $76.2m | $57.5m | $4.8m | ($13.8m) | |
| Stockholders' Equity Attributable to Parent | $9.7m | $654.7m | $404.6m | $296.8m | $115.6m | $1.1b | $2.0b | $2.0b | $1.8b | $1.7b | |
| Stockholders' Equity Attributable to Noncontrolling Interest | $315.0m | $681.9m | $694.3m | $686.6m | $766.5m | $880.6m | $942.7m | $1.0b | $1.4b | $1.4b | |
| Minority Interest | — | — | — | — | — | — | $1.3b | $1.4b | $1.8b | $1.8b | |
| Total Equity Gross Minority Interest | — | — | — | — | — | — | $3.3b | $3.4b | $3.6b | $3.5b | |
| Total Non Current Liabilities Net Minority Interest | — | — | — | — | — | — | $2.9b | $3.0b | $3.6b | $4.0b | |
| Total stockholders' equity | $324.7m | $1.3b | $1.1b | $983.4m | $882.1m | $2.0b | $2.9b | $3.0b | $3.2b | $3.1b | |
| Liabilities and Equity | $2.3b | $4.6b | $4.7b | $5.0b | $5.4b | $6.1b | $6.7b | $6.9b | $7.9b | $8.1b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.