Segments (Tables)

3 Months Ended

Dec. 31, 2024

Summary of Certain Financial Data For Each of Segments

The following is a summary of certain financial data for each of the segments:


	Three Months Ended December 31,
	2024			2023
Maintenance Services	$	409.3		$	442.3
Development Services		191.8			185.4
Eliminations		(1.9	)		(1.0	)
Net Service Revenues	$	599.2		$	626.7
Maintenance Services	$	41.7		$	8.6
Development Services		17.0			1.5
Capital Expenditures	$	58.7		$	10.1
Maintenance Services	$	34.6		$	31.4
Development Services		17.5			15.3
Segment Adjusted EBITDA(1)	$	52.1		$	46.7

(1)

Presented below is a reconciliation of (Loss) before income taxes to Segment Adjusted EBITDA:


	Three Months Ended December 31,
	2024			2023
Segment Adjusted EBITDA	$	52.1		$	46.7
Interest expense, net		14.2			17.1
Depreciation expense		30.4			25.6
Amortization expense		8.1			10.1
Business transformation and integration costs (a)		9.2			10.7
Equity-based compensation (b)		4.8			5.3
(Loss) before income taxes	$	(14.6	)	$	(22.1	)

(a)

Business transformation and integration costs consist of severance and related costs, information technology, infrastructure, transformation, and other costs. These costs represent expenses related to distinct initiatives, typically significant enterprise-wide changes, including actions taken as part of the Company's One BrightView initiative. Such expenses are excluded from Segment Adjusted EBITDA disclosed above since such expenses vary in amount based on occurrence as well as factors specific to each of the activities, are outside of the normal operations of the business, and create a lack of comparability between periods.

(b)

Represents equity-based compensation expense and related taxes recognized for equity incentive plans outstanding.