2016 Q4 Form 10-K Financial Statement

#000163883317000007 Filed on March 10, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2016
Revenue $306.0M $282.7M $1.145B
YoY Change 16.21% 17.98% 19.33%
Cost Of Revenue $214.2M $201.4M $821.2M
YoY Change 16.96% 19.29% 22.69%
Gross Profit $91.75M $81.29M $324.2M
YoY Change 14.48% 14.85% 11.59%
Gross Profit Margin 29.98% 28.76% 28.31%
Selling, General & Admin $39.80M $36.70M $136.6M
YoY Change -1.0% 29.68% 9.81%
% of Gross Profit 43.38% 45.15% 42.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.60M $9.713M $39.55M
YoY Change 17.78% 12.8% 14.49%
% of Gross Profit 11.55% 11.95% 12.2%
Operating Expenses $50.40M $239.8M $949.0M
YoY Change 2.65% 22.79% 16.42%
Operating Profit $41.35M $42.85M $196.5M
YoY Change 33.19% -3.22% 35.74%
Interest Expense -$23.90M -$26.48M -$100.6M
YoY Change 10.65% -0.37% -0.41%
% of Operating Profit -57.79% -61.79% -51.19%
Other Income/Expense, Net $700.0K -$4.100M -$3.400M
YoY Change -100.59% -1466.67% -97.11%
Pretax Income $42.70M $12.64M $92.18M
YoY Change -135.2% -28.59% -221.07%
Income Tax $4.600M -$1.694M $7.095M
% Of Pretax Income 10.77% -13.4% 7.7%
Net Earnings $16.86M -$2.338M $9.453M
YoY Change 0.73% -25.11% 561.51%
Net Earnings / Revenue 5.51% -0.83% 0.83%
Basic Earnings Per Share $0.35 -$0.05 $0.20
Diluted Earnings Per Share $0.35 -$0.05 $0.20
COMMON SHARES
Basic Shares Outstanding 48.49M shares 48.02M shares 48.02M shares
Diluted Shares Outstanding 48.02M shares 48.19M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.70M $55.20M $69.70M
YoY Change 20.38% -2.82% 20.38%
Cash & Equivalents $69.70M $55.21M $69.70M
Short-Term Investments
Other Short-Term Assets $11.34M $10.39M $33.40M
YoY Change 34.75% 7.51% 12.08%
Inventory $28.78M $26.87M $28.80M
Prepaid Expenses $11.16M $11.52M
Receivables $220.6M $206.0M $220.6M
Other Receivables $9.500M $9.500M $9.500M
Total Short-Term Assets $362.0M $328.7M $362.0M
YoY Change 16.4% 14.14% 16.4%
LONG-TERM ASSETS
Property, Plant & Equipment $204.3M $199.6M $204.3M
YoY Change 10.67% 14.84% 10.67%
Goodwill $1.555B $1.531B
YoY Change 10.46% 15.14%
Intangibles $48.02M $48.67M
YoY Change -10.35% -8.4%
Long-Term Investments $39.50M $39.40M $39.50M
YoY Change 7.05% 7.65% 7.05%
Other Assets $16.44M $13.83M $95.30M
YoY Change 56.39% 84.15% -13.6%
Total Long-Term Assets $1.943B $1.920B $1.943B
YoY Change 8.34% 19.74% 8.34%
TOTAL ASSETS
Total Short-Term Assets $362.0M $328.7M $362.0M
Total Long-Term Assets $1.943B $1.920B $1.943B
Total Assets $2.305B $2.249B $2.305B
YoY Change 9.53% 18.88% 9.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.77M $44.45M $49.80M
YoY Change 9.76% 8.93% 9.93%
Accrued Expenses $71.00M $69.80M $71.00M
YoY Change 31.73% 36.59% 31.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $27.80M $29.10M $27.80M
YoY Change 2.21% 5.05% 2.21%
Total Short-Term Liabilities $186.7M $178.7M $186.7M
YoY Change 3.0% 1.41% 2.98%
LONG-TERM LIABILITIES
Long-Term Debt $1.467B $1.411B $1.467B
YoY Change 14.44% -1.01% 14.44%
Other Long-Term Liabilities $76.27M $87.43M $146.0M
YoY Change -10.92% 4.36% -8.58%
Total Long-Term Liabilities $76.27M $87.43M $1.613B
YoY Change -10.92% 4.36% 11.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $186.7M $178.7M $186.7M
Total Long-Term Liabilities $76.27M $87.43M $1.613B
Total Liabilities $263.0M $266.1M $2.295B
YoY Change -1.47% 2.36% 8.86%
SHAREHOLDERS EQUITY
Retained Earnings -$311.4M -$328.2M
YoY Change -2.95% -2.76%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.677M -$8.331M $9.700M
YoY Change
Total Liabilities & Shareholders Equity $2.305B $2.249B $2.305B
YoY Change 9.53% 18.88% 9.53%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2016
OPERATING ACTIVITIES
Net Income $16.86M -$2.338M $9.453M
YoY Change 0.73% -25.11% 561.51%
Depreciation, Depletion And Amortization $10.60M $9.713M $39.55M
YoY Change 17.78% 12.8% 14.49%
Cash From Operating Activities $32.30M $18.90M $125.2M
YoY Change 33.47% -35.49% 48.25%
INVESTING ACTIVITIES
Capital Expenditures -$10.70M -$8.000M $39.11M
YoY Change -30.07% 21.21% 16.96%
Acquisitions $146.4M
YoY Change 30.03%
Other Investing Activities -$19.60M -$13.00M -$145.6M
YoY Change -75.5% -35.64% 43.59%
Cash From Investing Activities -$30.30M -$21.00M -$184.7M
YoY Change -68.21% -21.64% 37.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $473.4M
YoY Change 44.2%
Cash From Financing Activities 12.50M 5.800M $71.28M
YoY Change -82.71% -9.38% 113.57%
NET CHANGE
Cash From Operating Activities 32.30M 18.90M $125.2M
Cash From Investing Activities -30.30M -21.00M -$184.7M
Cash From Financing Activities 12.50M 5.800M $71.28M
Net Change In Cash 14.50M 3.700M $11.77M
YoY Change 1108.33% -58.43% -169.26%
FREE CASH FLOW
Cash From Operating Activities $32.30M $18.90M $125.2M
Capital Expenditures -$10.70M -$8.000M $39.11M
Free Cash Flow $43.00M $26.90M $86.13M
YoY Change 8.86% -25.07% 68.74%

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543000 USD
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846000 USD
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354000 USD
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32263000 USD
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13207000 USD
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24996000 USD
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26470000 USD
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
0 USD
CY2015 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
0 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-200000 USD
CY2014 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
381000 USD
CY2015 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
181000 USD
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
188000 USD
CY2014 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-4419000 USD
CY2015 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-1574000 USD
CY2016 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
1635000 USD
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1402000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1059000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-86000 USD
CY2014 us-gaap Income Tax Reconciliation Tax Contingencies Other
IncomeTaxReconciliationTaxContingenciesOther
589000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Contingencies Other
IncomeTaxReconciliationTaxContingenciesOther
-10000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Contingencies Other
IncomeTaxReconciliationTaxContingenciesOther
-262000 USD
CY2014 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
676000 USD
CY2015 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1093000 USD
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
661000 USD
CY2014 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
20161000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
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48783000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
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60622000 USD
CY2014 us-gaap Increase Decrease In Other Operating Capital Net
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-418000 USD
CY2015 us-gaap Increase Decrease In Other Operating Capital Net
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-4439000 USD
CY2016 us-gaap Increase Decrease In Other Operating Capital Net
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-17203000 USD
CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
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54888000 USD
CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
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53568000 USD
CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
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48023000 USD
CY2014 us-gaap Interest Income Expense Nonoperating Net
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-62101000 USD
CY2015 us-gaap Interest Income Expense Nonoperating Net
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-100980000 USD
CY2016 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-100571000 USD
CY2014 us-gaap Interest Paid Net
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50377000 USD
CY2015 us-gaap Interest Paid Net
InterestPaidNet
96799000 USD
CY2016 us-gaap Interest Paid Net
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79262000 USD
CY2015Q4 us-gaap Interest Payable Current
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5410000 USD
CY2016Q4 us-gaap Interest Payable Current
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19206000 USD
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25591000 USD
CY2016Q4 us-gaap Inventory Net
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28777000 USD
CY2015Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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34103000 USD
CY2016Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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34980000 USD
CY2014 us-gaap Labor And Related Expense
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101976000 USD
CY2015 us-gaap Labor And Related Expense
LaborAndRelatedExpense
261685000 USD
CY2016 us-gaap Labor And Related Expense
LaborAndRelatedExpense
357175000 USD
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
18800000 USD
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
40100000 USD
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
47300000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
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2104443000 USD
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186725000 USD
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125239000 USD
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-65897000 USD
CY2015Q1 us-gaap Net Income Loss
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-6762000 USD
CY2015Q2 us-gaap Net Income Loss
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CY2015Q3 us-gaap Net Income Loss
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-3122000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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2304958000 USD
CY2015Q4 us-gaap Net Income Loss
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16739000 USD
CY2015 us-gaap Net Income Loss
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1429000 USD
CY2016Q1 us-gaap Net Income Loss
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181289000 USD
CY2016Q2 us-gaap Net Income Loss
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2120000 USD
CY2016Q3 us-gaap Net Income Loss
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-2338000 USD
CY2016Q4 us-gaap Net Income Loss
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16862000 USD
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-134842000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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-184749000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
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21949000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
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84481000 USD
CY2016 us-gaap Net Income Loss
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9453000 USD
CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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38845000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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17250000 USD
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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17905000 USD
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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16906000 USD
CY2015Q4 us-gaap Long Term Accounts Notes And Loans Receivable Net Noncurrent
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212000 USD
CY2016Q4 us-gaap Long Term Accounts Notes And Loans Receivable Net Noncurrent
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716000 USD
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1474517000 USD
CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations
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1228112000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1414421000 USD
CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
27247000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
27822000 USD
CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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1255359000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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1442243000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
3950000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
27823000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
402852000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
909993000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
103871000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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26028000 USD
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301955000 USD
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314997000 USD
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32414000 USD
CY2015 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
49784000 USD
CY2016 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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48618000 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
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310961000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
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33374000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
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71276000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
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-271016000 USD
CY2015Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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19355000 USD
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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20173000 USD
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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16672000 USD
CY2015 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
71416000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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17547000 USD
CY2016Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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21238000 USD
CY2016 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
75630000 USD
CY2015 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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17616000 USD
CY2016 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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18023000 USD
CY2014 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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-31131000 USD
CY2015 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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55229000 USD
CY2016 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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67060000 USD
CY2014 us-gaap Notes Issued1
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0 USD
CY2015 us-gaap Notes Issued1
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7430000 USD
CY2016 us-gaap Notes Issued1
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325000 USD
CY2016 us-gaap Number Of Businesses Acquired
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1 Entity
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3 segment
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5 reporting_unit
CY2016Q4 us-gaap Number Of States In Which Entity Operates
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29 state
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1996000 USD
CY2016Q4 us-gaap Off Market Lease Unfavorable
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1671000 USD
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352482000 USD
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815137000 USD
CY2016 us-gaap Operating Expenses
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948956000 USD
CY2014 us-gaap Operating Income Loss
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50807000 USD
CY2015 us-gaap Operating Income Loss
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144754000 USD
CY2016 us-gaap Operating Income Loss
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196482000 USD
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335316000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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46517000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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28728000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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34415000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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39181000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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42917000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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143558000 USD
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19389000 USD
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44848000 USD
CY2016 us-gaap Operating Leases Rent Expense Net
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52147000 USD
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22133000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
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22552000 USD
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8414000 USD
CY2016Q4 us-gaap Other Assets Current
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11338000 USD
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235000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous Noncurrent
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1475000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
10509000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
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16435000 USD
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0 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
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0 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
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0 USD
CY2014 us-gaap Other Cost And Expense Operating
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20561000 USD
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
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14296000 USD
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-278000 USD
CY2015 us-gaap Payments Of Distributions To Affiliates
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12175000 USD
CY2016 us-gaap Payments Of Distributions To Affiliates
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20096000 USD
CY2014 us-gaap Payments Of Dividends Minority Interest
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35182000 USD
CY2015 us-gaap Payments Of Dividends Minority Interest
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69720000 USD
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54127000 USD
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61450000 USD
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68410000 USD
CY2016Q4 us-gaap Other Liabilities Current
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68993000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
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85613000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
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76266000 USD
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-6000 USD
CY2015 us-gaap Other Nonrecurring Income Expense
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-525000 USD
CY2016 us-gaap Other Nonrecurring Income Expense
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55000 USD
CY2015Q4 us-gaap Other Sundry Liabilities Noncurrent
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7694000 USD
CY2016Q4 us-gaap Other Sundry Liabilities Noncurrent
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9764000 USD
CY2014 us-gaap Other Tax Expense Benefit
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0 USD
CY2015 us-gaap Other Tax Expense Benefit
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119911000 USD
CY2016 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
3733000 USD
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11424000 USD
CY2016Q4 us-gaap Payables To Customers
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12221000 USD
CY2014 us-gaap Payments For Repurchase Of Common Stock
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3143000 USD
CY2015 us-gaap Payments For Repurchase Of Common Stock
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0 USD
CY2016 us-gaap Payments For Repurchase Of Common Stock
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0 USD
CY2014 us-gaap Payments Of Debt Extinguishment Costs
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17840000 USD
CY2015 us-gaap Payments Of Debt Extinguishment Costs
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7305000 USD
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0 USD
CY2014 us-gaap Payments Of Debt Issuance Costs
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7496000 USD
CY2015 us-gaap Payments Of Debt Issuance Costs
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0 USD
CY2016 us-gaap Payments Of Dividends Minority Interest
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65778000 USD
CY2014 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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263280000 USD
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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112596000 USD
CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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146405000 USD
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
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7736000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
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33439000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
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39109000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
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20000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Authorized
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20000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Value
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0 USD
CY2015Q4 us-gaap Profit Loss
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36094000 USD
CY2015 us-gaap Profit Loss
ProfitLoss
72845000 USD
CY2016Q1 us-gaap Profit Loss
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10357000 USD
CY2016Q2 us-gaap Profit Loss
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22293000 USD
CY2015Q3 us-gaap Profit Loss
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13784000 USD
CY2016Q4 us-gaap Preferred Stock Value
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0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
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34620000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
32014000 USD
CY2015Q4 us-gaap Prepaid Expense Current
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7409000 USD
CY2016Q4 us-gaap Prepaid Expense Current
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11158000 USD
CY2014 us-gaap Proceeds From Divestiture Of Businesses
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0 USD
CY2015 us-gaap Proceeds From Divestiture Of Businesses
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11193000 USD
CY2016 us-gaap Proceeds From Divestiture Of Businesses
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765000 USD
CY2014 us-gaap Proceeds From Issuance Initial Public Offering
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0 USD
CY2015 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
250979000 USD
CY2016 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2014 us-gaap Proceeds From Issuance Of Long Term Debt
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1477288000 USD
CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
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196366000 USD
CY2016 us-gaap Proceeds From Issuance Of Long Term Debt
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650707000 USD
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-70000 USD
CY2015 us-gaap Proceeds From Payments For Other Financing Activities
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3558000 USD
CY2016 us-gaap Proceeds From Payments For Other Financing Activities
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-924000 USD
CY2014 us-gaap Professional Fees
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18028000 USD
CY2015 us-gaap Professional Fees
ProfessionalFees
66583000 USD
CY2016 us-gaap Professional Fees
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81185000 USD
CY2014 us-gaap Profit Loss
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-27052000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
10488000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
12479000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
14334000 USD
CY2016Q4 us-gaap Profit Loss
ProfitLoss
38100000 USD
CY2016 us-gaap Profit Loss
ProfitLoss
85083000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross Excluding Capital Leased Assets
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254788000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross Excluding Capital Leased Assets
PropertyPlantAndEquipmentGrossExcludingCapitalLeasedAssets
290640000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net Excluding Capital Leased Assets
PropertyPlantAndEquipmentNetExcludingCapitalLeasedAssets
184550000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net Excluding Capital Leased Assets
PropertyPlantAndEquipmentNetExcludingCapitalLeasedAssets
204253000 USD
CY2014 us-gaap Provision For Doubtful Accounts
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9509000 USD
CY2015 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
23578000 USD
CY2016 us-gaap Provision For Doubtful Accounts
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24212000 USD
CY2014Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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192589000 USD
CY2015Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
183439000 USD
CY2016Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
180521000 USD
CY2014 us-gaap Repayments Of Long Term Debt
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1009874000 USD
CY2015 us-gaap Repayments Of Long Term Debt
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328329000 USD
CY2016 us-gaap Repayments Of Long Term Debt
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473437000 USD
CY2015Q4 us-gaap Restricted Cash And Investments Noncurrent
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316000 USD
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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7779 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0 shares
CY2016Q4 us-gaap Restricted Cash And Investments Noncurrent
RestrictedCashAndInvestmentsNoncurrent
315000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-320804000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-311351000 USD
CY2014 us-gaap Revenues
Revenues
403289000 USD
CY2015Q1 us-gaap Revenues
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CY2016 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;text-align:left;padding-left:24px;text-indent:-24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">Surgery Partners, Inc.</font><font style="font-family:inherit;font-size:9pt;">,</font><font style="font-family:inherit;font-size:10pt;"> a </font><font style="font-family:inherit;font-size:9pt;">Delaware corporation (together with its subsidiaries, the &#8220;Company&#8221;), was formed April 2, 2015, as a holding company for the purpose of facilitating an initial public offering (the &#8220;IPO&#8221;) of shares of common stock. Prior to September 30, 2015, the Company conducted business through Surgery Center Holdings, Inc. and its subsidiaries. Surgery Center Holdings, LLC was and is the sole direct owner of the equity interests of Surgery Center Holdings, Inc. and had no other material assets. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">On September 30, 2015, Surgery Partners, Inc. became the direct parent and sole member of Surgery Center Holdings, LLC (the "Reorganization"). In the Reorganization, all of the equity interests held by the pre-IPO Owners of Surgery Center Holdings, LLC were contributed to Surgery Partners, Inc. in exchange for </font><font style="font-family:inherit;font-size:9pt;">33,871,990</font><font style="font-family:inherit;font-size:9pt;"> shares of common stock of Surgery Partners, Inc. and certain rights to additional payments under a tax receivable agreement. After giving effect to the Reorganization, Surgery Partners, Inc. is a holding company, and its sole material asset is an equity interest in Surgery Center Holdings, LLC. The Company's consolidated financial statements for periods prior to the Reorganization represent the historical operating results and financial position of Surgery Center Holdings, Inc. and certain of its subsidiaries.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;text-indent:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">On </font><font style="font-family:inherit;font-size:9pt;">October&#160;1, 2015</font><font style="font-family:inherit;font-size:9pt;">, the Company completed its IPO of </font><font style="font-family:inherit;font-size:9pt;">14,285,000</font><font style="font-family:inherit;font-size:9pt;"> shares of common stock at an offering price of </font><font style="font-family:inherit;font-size:9pt;">$19.00</font><font style="font-family:inherit;font-size:9pt;"> per share. On </font><font style="font-family:inherit;font-size:9pt;">October&#160;6, 2015</font><font style="font-family:inherit;font-size:9pt;">, the Company received net proceeds from the sale of common stock in this offering of </font><font style="font-family:inherit;font-size:9pt;">$255.8 million</font><font style="font-family:inherit;font-size:9pt;">, after deducting underwriting discounts and other fees of </font><font style="font-family:inherit;font-size:9pt;">$15.6 million</font><font style="font-family:inherit;font-size:9pt;">. These net proceeds were used to repay a portion of the borrowings outstanding under the 2014 Second Lien and to pay fees associated with this offering. The Company also incurred an additional </font><font style="font-family:inherit;font-size:9pt;">$4.8 million</font><font style="font-family:inherit;font-size:9pt;"> in costs directly related to the IPO.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">On </font><font style="font-family:inherit;font-size:9pt;">November&#160;3, 2014</font><font style="font-family:inherit;font-size:9pt;">, the Company completed the acquisition of Symbion Holdings Corp. ("Symbion") ("the Merger"), which added </font><font style="font-family:inherit;font-size:9pt;">55</font><font style="font-family:inherit;font-size:9pt;"> surgical facilities, including </font><font style="font-family:inherit;font-size:9pt;">49</font><font style="font-family:inherit;font-size:9pt;"> ambulatory surgery centers ("ASCs") and </font><font style="font-family:inherit;font-size:9pt;">six</font><font style="font-family:inherit;font-size:9pt;"> surgical hospitals, to its network of existing facilities. The Company acquired Symbion for a purchase price of </font><font style="font-family:inherit;font-size:9pt;">$792.0 million</font><font style="font-family:inherit;font-size:9pt;"> pursuant to the terms of an Agreement and Plan of Merger dated as of </font><font style="font-family:inherit;font-size:9pt;">June&#160;13, 2014</font><font style="font-family:inherit;font-size:9pt;">. The Symbion acquisition was financed&#160;through the issuance of approximately </font><font style="font-family:inherit;font-size:9pt;">$1.4 billion</font><font style="font-family:inherit;font-size:9pt;"> under the Company's Term Loans and Revolving Facility. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">As of </font><font style="font-family:inherit;font-size:9pt;">December&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;">, the Company owned and operated a national network of surgical facilities and ancillary services in </font><font style="font-family:inherit;font-size:9pt;">29</font><font style="font-family:inherit;font-size:9pt;"> states.&#160; The surgical facilities, which include ASCs and surgical hospitals, primarily provide non-emergency surgical procedures across many specialties, including, among others, gastroenterology</font><font style="font-family:inherit;font-size:10pt;">&#160;("</font><font style="font-family:inherit;font-size:9pt;">GI"), general surgery, ophthalmology, orthopedics and pain management.&#160;The Company's surgical hospitals provide services such as diagnostic imaging, laboratory, obstetrics, oncology, pharmacy, physical therapy and wound care. Ancillary services are comprised of a diagnostic laboratory, multi-specialty physician practices, urgent care facilities, anesthesia services, optical services and specialty pharmacy services. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"> As of </font><font style="font-family:inherit;font-size:9pt;">December&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;">, the Company owned or operated a portfolio of </font><font style="font-family:inherit;font-size:9pt;">104</font><font style="font-family:inherit;font-size:9pt;"> surgical facilities, comprised of </font><font style="font-family:inherit;font-size:9pt;">99</font><font style="font-family:inherit;font-size:9pt;"> ASCs and </font><font style="font-family:inherit;font-size:9pt;">five</font><font style="font-family:inherit;font-size:9pt;"> surgical hospitals. The Company owns these facilities in partnership with physicians and, in some cases, healthcare systems in the markets and communities it serves.&#160;The Company owned a majority interest in </font><font style="font-family:inherit;font-size:9pt;">74</font><font style="font-family:inherit;font-size:9pt;"> of the surgical facilities and consolidated </font><font style="font-family:inherit;font-size:9pt;">94</font><font style="font-family:inherit;font-size:9pt;"> of these facilities for financial reporting purposes.&#160;In addition, the Company owned or operated a network of </font><font style="font-family:inherit;font-size:9pt;">56</font><font style="font-family:inherit;font-size:9pt;"> physician practices.</font></div></div>
CY2016 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Certain reclassifications have been made to the comparative periods' financial statements to conform to the current year presentation. </font></div></div>
CY2016 us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-indent:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;">Patient service revenues.</font><font style="font-family:inherit;font-size:9pt;">&#160; The fee charged for healthcare procedures performed in surgical facilities varies depending on the type of service provided, but usually includes all charges for usage of an operating room, a recovery room, special equipment, medical supplies, nursing staff and medications.&#160; The fee does not normally include professional fees charged by the patient&#8217;s surgeon, anesthesiologist or other attending physician, which are billed directly by such physicians to the patient or third-party payor.&#160; However, in several surgical facilities, the Company charges for anesthesia services. Ancillary service revenues include fees for patient visits to the Company's physician practices, pharmacy services and diagnostic tests ordered by physicians. Patient service revenues are recognized on the date of service, net of estimated contractual adjustments and discounts from third-party payors, including Medicare and Medicaid.&#160; Changes in estimated contractual adjustments and discounts are recorded in the period of change.</font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Revenues</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">The Company recognizes revenues in the period in which the services are performed. Patient service revenues and receivables from third-party payors are recorded net of estimated contractual adjustments and allowances, which the Company estimates based on the historical trend of its cash collections and contractual write-offs, accounts receivable agings, established fee schedules, contracts with payors and procedure statistics.</font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;">Other service revenues.</font><font style="font-family:inherit;font-size:9pt;font-style:italic;font-weight:bold;"> </font><font style="font-family:inherit;font-size:9pt;"> Optical service revenues consist of product sales from the Company's optical laboratories as well as handling charges billed to the members of the Company's optical products purchasing organization. The Company's optical products purchasing organization negotiates volume buying discounts with optical products manufacturers. The buying discounts and any handling charges billed to the members of the buying group represent the revenue recognized for financial reporting purposes. Revenue is recognized as orders are shipped to members. The Company bases its estimates for sales returns and discounts on historical experience and has not experienced significant fluctuations between estimated and actual return activity and discounts given. The Company's optical laboratories manufacture and distribute corrective lenses and eyeglasses to ophthalmologists and optometrists. Revenue is recognized when product is shipped, net of allowance for discounts. The Company's marketing products and services businesses recognize revenue when product is shipped or services are rendered. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other revenues include management and administrative service fees derived from the non-consolidated facilities that the Company accounts for under the equity method, management of surgical facilities in which it does not own an interest, and management services provided to physician practices for which the Company is not required to provide capital or additional assets. The fees derived from these management arrangements are based on a predetermined percentage of the revenues of each facility or practice and are recognized in the period in which services are rendered.</font></div></div>
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and footnotes. Examples include, but are not limited to, estimates of accounts receivable allowances, professional and general liabilities and the estimate of deferred tax assets or liabilities. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All adjustments are of a normal, recurring nature. Actual results could differ from those estimates.</font></div></div>

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