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Condensed Consolidated Income Statements - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Total revenue $ 981.8 $ 1,019.8 $ 3,142.6 $ 2,638.7
Operating expenses:        
Selling, general and administrative 177.8 203.5 584.5 546.2
Acquisition-related and integration costs 6.0 23.1 22.9 195.6
Depreciation and amortization 111.9 101.1 329.9 246.9
Total operating expenses 828.9 874.5 2,591.6 2,342.6
Gain on disposition of property, plant and equipment 0.5 0.5 3.2 4.4
Operating income 153.4 145.8 554.2 300.5
Interest expense (57.2) (63.7) (181.0) (149.6)
Interest income 6.9 4.5 20.3 15.8
Other income (loss), net (1.2) 0.4 (2.2) 3.0
Foreign exchange gain (loss) 0.3 (0.7) (1.6) (1.4)
Income before income taxes 102.2 86.3 389.7 168.3
Income tax expense 26.2 23.1 95.3 46.5
Net income 76.0 63.2 294.4 121.8
Net income (loss) attributable to:        
Controlling interests 76.1 63.4 294.6 122.2
Redeemable non-controlling interests (0.1) (0.2) (0.2) (0.4)
Net income 76.0 63.2 294.4 121.8
Net income attributable to controlling interests 76.1 63.4 294.6 122.2
Cumulative dividends on Series A Senior Preferred Shares (6.7) (6.7) (20.1) (17.6)
Allocated earnings to Series A Senior Preferred Shares (2.5) (2.0) (9.8) (5.5)
Net income available to common stockholders $ 66.9 $ 54.7 $ 264.7 $ 99.1
Earnings per share available to common stockholders:        
Basic (usd per share) $ 0.36 $ 0.30 $ 1.44 $ 0.61
Diluted (usd per share) $ 0.36 $ 0.30 $ 1.43 $ 0.61
Weighted average number of shares outstanding:        
Basic (in shares) 184,304,993 182,148,717 183,752,510 161,724,677
Diluted (in shares) 185,499,988 183,601,601 184,999,899 162,916,593
Service revenue        
Revenue:        
Total revenue $ 779.9 $ 773.8 $ 2,488.1 $ 1,923.4
Operating expenses:        
Direct expenses 339.7 316.8 1,041.5 680.5
Inventory sales revenue        
Revenue:        
Total revenue 201.9 246.0 654.5 715.3
Operating expenses:        
Direct expenses $ 193.5 $ 230.0 $ 612.8 $ 673.4