The operations of the Company are conducted through two operating segments: Maintenance Services and Development Services, which are also its reportable segments.

Maintenance Services primarily consists of recurring landscape maintenance services and snow removal services as well as supplemental landscape enhancement services.

Development Services primarily consists of landscape architecture and development services for new construction and large scale redesign projects. Development Services also includes our tree and nursery division, which grows and sells trees as well as manages removal and installation of specimen trees as part of many development projects.

The operating segments identified above are determined based on the services provided, and they reflect the manner in which operating results are regularly reviewed by the Chief Operating Decision Maker (“CODM”) to allocate resources and assess performance. The CODM is the Company’s Chief Executive Officer. The CODM evaluates the performance of the Company’s operating segments based upon Net Service Revenues, Adjusted EBITDA and Capital Expenditures. Management uses Adjusted EBITDA to evaluate performance and profitability of each operating segment.

The accounting policies of the segments are the same as those described in Note 2 “Summary of Significant Accounting Policies” in the notes to our consolidated financial statements in the Annual Report on Form 10-K for the fiscal year ended September 30, 2018. Corporate includes corporate executive compensation, finance, legal and information technology which are not allocated to the segments. Eliminations represent eliminations of intersegment revenues. The Company does not currently provide asset information by segment, as this information is not used by management when allocating resources or evaluating performance. The following is a summary of certain financial data for each of the segments:

	Three Months Ended March 31,						Six Months Ended March 31,
	2019			2018			2019			2018
Maintenance Services	$	473,314		$	460,105		$	865,847		$	866,795
Development Services		123,977			131,018			258,373			276,241
Eliminations		(654	)		(741	)		(1,570	)		(1,565	)
Net service revenues	$	596,637		$	590,382		$	1,122,650		$	1,141,471
Maintenance Services	$	64,957		$	58,282		$	113,663		$	118,892
Development Services		11,033			12,881			28,051			33,331
Corporate		(14,888	)		(19,542	)		(30,491	)		(34,180	)
Adjusted EBITDA⁽¹⁾	$	61,102		$	51,621		$	111,223		$	118,043
Maintenance Services	$	18,932		$	12,805		$	30,014		$	19,467
Development Services		3,466			862			6,660			1,773
Corporate		2,883			640			5,936			22,855
Capital expenditures	$	25,281		$	14,307		$	42,610		$	44,095

(1)	Presented below is a reconciliation of Net loss to Adjusted EBITDA:

	Three Months Ended						Six Months Ended
	March 31, 2019			March 31, 2018			March 31, 2019			March 31, 2018
Net loss	$	(3,606	)	$	(22,064	)	$	(12,433	)	$	(2,740	)
Interest expense		18,945			25,069			36,069			49,982
Income tax benefit		(1,315	)		(7,858	)		(4,451	)		(59,397	)
Depreciation expense		21,687			17,731			40,968			38,803
Amortization expense		13,807			29,318			28,938			60,364
Establish public company financial reporting compliance (a)		1,308			185			1,692			2,816
Business transformation and integration costs (b)		4,664			2,125			8,921			18,934
Expenses related to initial public offering (c)		—			2,130			—			2,130
Equity-based compensation (d)		5,612			4,276			11,519			5,802
Management fees (e)		—			709			—			1,348
Adjusted EBITDA	$	61,102		$	51,621		$	111,223		$	118,043

(a)

Represents costs incurred to establish public company financial reporting compliance, including costs to comply with the requirements of Sarbanes-Oxley and the accelerated adoption of the new revenue recognition standard (ASU 2014-09 – Revenue from Contracts with Customers) and other miscellaneous costs.

(b)	Business transformation and integration costs consist of (i) severance and related costs; (ii) rebranding of vehicle fleet; (iii) business integration costs and (iv) information technology infrastructure transformation costs and other.

(c)	Represents expenses incurred for the IPO.

(d)	Represents equity-based compensation expense recognized for equity incentive plans outstanding, including $3,058 and $7,015 related to the IPO during the three and six months ended March 31, 2019, respectively.

(e)	Represents management fees paid pursuant to a monitoring agreement terminated on July 2, 2018 in connection with the completion of the IPO.