Segments (Tables)

6 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

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 March 31,						Six Months Ended March 31,
	2020			2019			2020			2019
Maintenance Services	$	416.2		$	473.3		$	835.1		$	865.8
Development Services		143.6			124.0			296.4			258.4
Eliminations		(0.7	)		(0.7	)		(1.7	)		(1.5	)
Net service revenues	$	559.1		$	596.6		$	1,129.8		$	1,122.7
Maintenance Services	$	41.2		$	65.0		$	88.9		$	113.7
Development Services		13.7			11.0			32.8			28.1
Corporate		(16.0	)		(14.9	)		(31.2	)		(30.6	)
Adjusted EBITDA(1)	$	38.9		$	61.1		$	90.5		$	111.2
Maintenance Services	$	14.3		$	18.9		$	26.1		$	30.0
Development Services		5.9			3.5			7.9			6.7
Corporate		0.4			2.9			1.1			5.9
Capital expenditures	$	20.6		$	25.3		$	35.1		$	42.6

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

	Three Months Ended March 31,						Six Months Ended March 31,
	2020			2019			2020			2019
Net (loss)	$	(20.5	)	$	(3.6	)	$	(33.1	)	$	(12.4	)
Interest expense		17.1			18.9			34.5			36.1
Income tax (benefit)		(6.7	)		(1.3	)		(11.6	)		(4.5	)
Depreciation expense		19.3			21.7			39.5			41.0
Amortization expense		13.6			13.8			27.1			28.9
Establish public company financial reporting compliance (a)		—			1.3			0.9			1.7
Business transformation and integration costs (b)		8.9			4.7			17.3			8.9
Offering-related expenses (c)		1.2			—			1.5			—
Equity-based compensation (d)		4.9			5.6			13.3			11.5
COVID-19 related expenses (e)		1.1			—			1.1			—
Adjusted EBITDA	$	38.9		$	61.1		$	90.5		$	111.2

(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 revenue recognition standard (ASC 606 – 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 IPO related litigation and subsequent registration statements. No related expenses were incurred during the three months or six months ended March 31, 2019.

(d) Represents equity-based compensation expense and related taxes recognized for equity incentive plans outstanding, including $1.9 and $3.9 million of equity based compensation expense related to the IPO in the three and six months ended March 31, 2020, respectively.

(e) Represents expenses related to the Company’s response to the COVID-19 pandemic, primarily for purchases of additional supplies.