Segment Information (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Schedule of selected financial data for the Company's reportable segments

The following tables summarize selected financial data for the Company’s reportable segments. Prior year results presented herein have been changed to conform to the current presentation.

		Three Months Ended March 31,
		2019			2020
	(in thousands)
Net operating revenues:(1)
Critical illness recovery hospital		$	457,534		$	500,521
Rehabilitation hospital		154,558			182,019
Outpatient rehabilitation		246,905			255,249
Concentra		396,321			398,535
Other		69,313			78,308
Total Company		$	1,324,631		$	1,414,632
Adjusted EBITDA:
Critical illness recovery hospital		$	72,998		$	88,570
Rehabilitation hospital		25,797			38,569
Outpatient rehabilitation		28,991			27,122
Concentra		66,258			61,466
Other		(23,927		)	(28,394		)
Total Company		$	170,117		$	187,333
Total assets:
Critical illness recovery hospital		$	2,062,659		$	2,148,779
Rehabilitation hospital		1,089,391			1,127,267
Outpatient rehabilitation		1,250,015			1,285,449
Concentra		2,464,317			2,354,169
Other		155,110			199,903
Total Company		$	7,021,492		$	7,115,567
Purchases of property and equipment:
Critical illness recovery hospital		$	10,160		$	8,965
Rehabilitation hospital		13,183			3,325
Outpatient rehabilitation		9,040			8,384
Concentra		15,698			15,586
Other		992			2,948
Total Company		$	49,073		$	39,208

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(1)

Prior to the quarter ended June 30, 2019, the financial results of employee leasing services provided to non-consolidating subsidiaries were included with the Company’s reportable segments. These results are now reported as part of the Company’s other activities. Net operating revenues have been conformed to the current presentation for the three months ended March 31, 2019.

Schedule of reconciliation of Adjusted EBITDA to income before income taxes

A reconciliation of Adjusted EBITDA to income before income taxes is as follows:

	Three Months Ended March 31, 2019
	Critical Illness Recovery Hospital			Rehabilitation Hospital			Outpatient Rehabilitation			Concentra			Other			Total
	(in thousands)
Adjusted EBITDA	$	72,998		$	25,797		$	28,991		$	66,258		$	(23,927	)
Depreciation and amortization	(11,451		)	(6,402		)	(7,032		)	(24,904		)	(2,349		)
Stock compensation expense	—			—			—			(767		)	(5,488		)
Income (loss) from operations	$	61,547		$	19,395		$	21,959		$	40,587		$	(31,764	)	$	111,724
Equity in earnings of unconsolidated subsidiaries																4,366
Gain on sale of businesses																6,532
Interest expense																(50,811		)
Income before income taxes																$	71,811

	Three Months Ended March 31, 2020
	Critical Illness Recovery Hospital			Rehabilitation Hospital			Outpatient Rehabilitation			Concentra			Other			Total
	(in thousands)
Adjusted EBITDA	$	88,570		$	38,569		$	27,122		$	61,466		$	(28,394	)
Depreciation and amortization	(12,336		)	(6,887		)	(7,218		)	(22,887		)	(2,424		)
Stock compensation expense	—			—			—			(767		)	(6,136		)
Income (loss) from operations	$	76,234		$	31,682		$	19,904		$	37,812		$	(36,954	)	$	128,678
Equity in earnings of unconsolidated subsidiaries																2,588
Gain on sale of businesses																7,201
Interest expense																(46,107		)
Income before income taxes																$	92,360