Segment Reporting

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company operates in two major lines of business - the operation of ambulatory surgery centers and providing outsourced physician services, which have been identified as its operating and reportable segments. Through the ambulatory services segment, the Company acquires, develops and operates ambulatory surgery centers in partnership with physicians. Through the physician services segment, the Company provides outsourced physician services in multiple specialties to hospitals, ambulatory surgery centers and other healthcare facilities, primarily in the areas of anesthesiology, radiology, children’s services, and emergency medicine.

The Company’s financial information by operating segment is prepared on an internal management reporting basis and includes allocations of corporate overhead to each segment. This financial information is used by the chief operating decision maker to allocate resources and assess the performance of the operating segments. The Company’s operating segments have been defined based on the separate financial information that is regularly produced and reviewed by the Company’s chief operating decision maker which is its Chief Executive Officer.

The following table presents financial information for each reportable segment (in thousands):

	Three Months Ended March 31,
	2016			2015
Net Revenue:
Ambulatory Services	$	307,134		$	283,910
Physician Services	417,544			286,535
Total	$	724,678		$	570,445
Adjusted EBITDA:
Ambulatory Services	$	53,626		$	47,308
Physician Services	66,474			46,447
Total	$	120,100		$	93,755
Adjusted EBITDA:	$	120,100		$	93,755
Earnings attributable to noncontrolling interests	53,841			47,717
Interest expense, net	(30,810		)	(30,247		)
Depreciation and amortization	(29,072		)	(22,818		)
Share-based compensation	(7,168		)	(3,709		)
Transaction costs	(1,390		)	(1,471		)
Net loss on deconsolidations	—			(223		)
Earnings before income taxes	$	105,501		$	83,004
Acquisition and Capital Expenditures:
Ambulatory Services	$	8,371		$	54,096
Physician Services	10,310			87,265
Total	$	18,681		$	141,361