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Income Statement
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AdaptHealth Corp. (AHCO)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18
   10-K10-K10-K10-K10-K
Net revenue  2,970.62,454.51,056.4529.6345.3
            Net revenue growth  21.0%132.4%99.5%53.4% 
Revenue, Product and Service [Extensible Enumeration]       
Costs and expenses:       
Cost of net revenue  2,553.22,008.9898.6440.7293.4
   
Cost, Product and Service [Extensible Enumeration]       
General and administrative expenses  162.1167.589.356.518.1
Depreciation and amortization, excluding patient equipment depreciation  64.963.111.43.1 
    Total costs and expenses  5,846.24,731.22,142.91,099.9682.2
    Operating income  190.4225.671.329.431.1
            Operating margin  6.4%9.2%6.8%5.5%9.0%
Interest expense, net  -109.4-95.2-41.4-39.3-7.5
Change in fair value of warrant liability (note 10)  -17.2-53.2135.47.7 
Other loss, net  0.31.8-3.4-0.3 
    Income before income taxes  97.9191.0-206.0-21.922.2
Income tax expense  24.832.8-12.00.7-2.1
    Net income  73.1158.2-194.1-22.624.3
Income attributable to noncontrolling interest  3.82.0-32.5-1.31.1
    Net income attributable to AdaptHealth Corp.  69.3156.2-161.6-21.323.3
   
Weighted average common shares outstanding - basic (in shares)  134.2126.352.522.611.9
Weighted average common shares outstanding - diluted (in shares)  139.0133.052.522.6 
   
Basic net income per share (note 11) (in dollars per share)  $0.47$1.12($3.08)($0.95)$1.95
Diluted net income per share (note 11) (in dollars per share)  $0.33$0.67($3.08)($0.95)$1.95

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