XML 40 R33.htm IDEA: XBRL DOCUMENT v3.25.4
Segments (Tables)
3 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Summary of Certain Financial Data For Each of Segments and Reconciliation of Segment Adjusted EBITDA to (Loss) Before Income Taxes

The following is a summary of certain financial data for each of the segments and reconciliation of Segment Adjusted EBITDA to (Loss) before income taxes:

 

 

Three Months Ended December 31, 2025

 

 

 

Maintenance

 

 

Development

 

 

Eliminations

 

 

Total

 

Net Service Revenues

 

$

436.4

 

 

$

179.2

 

 

$

(0.9

)

 

$

614.7

 

Less segment expenses

 

 

 

 

 

 

 

 

 

 

 

 

Direct costs(a)

 

 

252.9

 

 

 

132.9

 

 

 

(0.9

)

 

 

 

Other segment items(b)

 

 

148.1

 

 

 

28.2

 

 

 

 

 

 

 

Segment Adjusted EBITDA

 

 

35.4

 

 

 

18.1

 

 

 

 

 

 

53.5

 

Reconciliation of total segment Adjusted EBITDA

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

13.5

 

Depreciation expense

 

 

 

 

 

 

 

 

 

 

 

42.9

 

Amortization expense

 

 

 

 

 

 

 

 

 

 

 

6.2

 

Business transformation and integration costs (c)

 

 

 

 

 

 

 

 

 

 

 

7.0

 

Equity-based compensation (d)

 

 

 

 

 

 

 

 

 

 

 

4.3

 

(Loss) before income taxes

 

 

 

 

 

 

 

 

 

 

$

(20.4

)

 

 

 

Three Months Ended December 31, 2024

 

 

 

Maintenance

 

 

Development

 

 

Eliminations

 

 

Total

 

Net Service Revenues

 

$

409.3

 

 

$

191.8

 

 

$

(1.9

)

 

$

599.2

 

Less segment expenses

 

 

 

 

 

 

 

 

 

 

 

 

Direct costs(a)

 

 

230.1

 

 

 

146.0

 

 

 

(1.8

)

 

 

 

Other segment items(b)

 

 

144.6

 

 

 

28.3

 

 

 

(0.1

)

 

 

 

Segment Adjusted EBITDA

 

 

34.6

 

 

 

17.5

 

 

 

 

 

 

52.1

 

Reconciliation of total segment Adjusted EBITDA

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

14.2

 

Depreciation expense

 

 

 

 

 

 

 

 

 

 

 

30.4

 

Amortization expense

 

 

 

 

 

 

 

 

 

 

 

8.1

 

Business transformation and integration costs (c)

 

 

 

 

 

 

 

 

 

 

 

9.2

 

Equity-based compensation (d)

 

 

 

 

 

 

 

 

 

 

 

4.8

 

(Loss) before income taxes

 

 

 

 

 

 

 

 

 

 

$

(14.6

)

 

 

 

Three Months Ended December 31,

 

Capital Expenditures

 

2025

 

 

2024

 

Maintenance Services

 

$

48.7

 

 

$

41.7

 

Development Services

 

 

6.0

 

 

 

17.0

 

Capital Expenditures

 

$

54.7

 

 

$

58.7

 

 

(a)
The Company's significant segment expense, direct costs, aligns with the segment level information that is regularly provided to our CODM. Direct costs include direct labor, materials, and other costs that are directly incurred as a result of the delivery of services. Direct costs do not include costs of sales that are allocated to services including fuel and depreciation. Intersegment expenses are included within the amounts shown.
(b)
Other segment items for both segments primarily include indirect compensation costs, auto and equipment costs, selling, general, and administrative costs and allocation of corporate expenses.
(c)
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.
(d)
Represents equity-based compensation expense and related taxes recognized for equity incentive plans outstanding