Segment Information (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of selected financial data for reportable segments

The following tables summarize selected financial data for the Company’s reportable segments.


	Three Months Ended March 31,
		2021		2022
		(in thousands)
Revenue:
Critical illness recovery hospital		$	594,872	$	601,755
Rehabilitation hospital		207,804		220,634
Outpatient rehabilitation		251,961		271,940
Concentra		422,840		423,423
Other		68,986		81,795
Total Company		$	1,546,463	$	1,599,547
Adjusted EBITDA:
Critical illness recovery hospital		$	113,272	$	35,967
Rehabilitation hospital		50,534		42,379
Outpatient rehabilitation		26,329		26,596
Concentra		82,015		89,469
Other(1)		(13,809)		(30,564)
Total Company		$	258,341	$	163,847
Total assets:
Critical illness recovery hospital		$	2,233,067	$	2,367,490
Rehabilitation hospital		1,188,387		1,187,118
Outpatient rehabilitation		1,321,268		1,350,374
Concentra		2,468,157		2,339,940
Other		709,902		291,022
Total Company		$	7,920,781	$	7,535,944
Purchases of property and equipment:
Critical illness recovery hospital		$	14,385	$	19,569
Rehabilitation hospital		665		6,274
Outpatient rehabilitation		7,335		9,414
Concentra		12,680		10,240
Other		4,654		1,348
Total Company		$	39,719	$	46,845

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(1) For the three months ended March 31, 2021, Adjusted EBITDA included other operating income of $16.1 million related to the recognition of payments received under the Provider Relief Fund for health care related expenses and loss of revenue attributable to the coronavirus disease 2019 (“COVID-19”).

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, 2021
	Critical Illness Recovery Hospital		Rehabilitation Hospital		Outpatient Rehabilitation		Concentra		Other		Total
	(in thousands)
Adjusted EBITDA	$	113,272	$	50,534	$	26,329	$	82,015	$	(13,809)
Depreciation and amortization	(13,050)		(7,060)		(7,191)		(19,898)		(2,421)
Stock compensation expense	—		—		—		(536)		(6,173)
Income (loss) from operations	$	100,222	$	43,474	$	19,138	$	61,581	$	(22,403)	$	202,012

Equity in earnings of unconsolidated subsidiaries											9,919

Interest income											4,749
Interest expense											(34,402)
Income before income taxes											$	182,278


	Three Months Ended March 31, 2022
	Critical Illness Recovery Hospital		Rehabilitation Hospital		Outpatient Rehabilitation		Concentra		Other		Total
	(in thousands)
Adjusted EBITDA	$	35,967	$	42,379	$	26,596	$	89,469	$	(30,564)
Depreciation and amortization	(14,618)		(6,802)		(8,029)		(18,812)		(2,778)
Stock compensation expense	—		—		—		(535)		(8,288)
Income (loss) from operations	$	21,349	$	35,577	$	18,567	$	70,122	$	(41,630)	$	103,985

Equity in earnings of unconsolidated subsidiaries											5,397


Interest expense											(35,514)
Income before income taxes											$	73,868