Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 06, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | ACHC | |
Entity Registrant Name | Acadia Healthcare Company, Inc. | |
Entity Central Index Key | 1,520,697 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 88,256,115 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 48,928 | $ 67,290 |
Accounts receivable, net | 345,659 | 296,925 |
Other current assets | 96,146 | 107,335 |
Total current assets | 490,733 | 471,550 |
Property and equipment, net | 3,126,642 | 3,048,130 |
Goodwill | 2,729,941 | 2,751,174 |
Intangible assets, net | 91,259 | 87,348 |
Deferred tax assets | 3,630 | 3,731 |
Derivative instrument assets | 33,084 | 12,997 |
Other assets | 54,295 | 49,572 |
Total assets | 6,529,584 | 6,424,502 |
Current liabilities: | ||
Current portion of long-term debt | 33,264 | 34,830 |
Accounts payable | 133,914 | 102,299 |
Accrued salaries and benefits | 109,151 | 99,047 |
Other accrued liabilities | 114,414 | 141,213 |
Total current liabilities | 390,743 | 377,389 |
Long-term debt | 3,181,962 | 3,205,058 |
Deferred tax liabilities | 82,269 | 80,333 |
Other liabilities | 165,663 | 166,434 |
Total liabilities | 3,820,637 | 3,829,214 |
Redeemable noncontrolling interests | 28,698 | 22,417 |
Equity: | ||
Preferred stock, $0.01 par value; 10,000,000 shares authorized, no shares issued | ||
Common stock, $0.01 par value; 180,000,000 shares authorized; 87,363,357 and 87,060,114 issued and outstanding at September 30, 2018 and December 31, 2017, respectively | 874 | 871 |
Additional paid-in capital | 2,535,377 | 2,517,545 |
Accumulated other comprehensive loss | (440,462) | (374,118) |
Retained earnings | 584,460 | 428,573 |
Total equity | 2,680,249 | 2,572,871 |
Total liabilities and equity | $ 6,529,584 | $ 6,424,502 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
Statement Of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, authorized | 10,000,000 | 10,000,000 |
Preferred stock, issued | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 180,000,000 | 180,000,000 |
Common stock, shares issued | 87,363,357 | 87,060,114 |
Common stock, shares outstanding | 87,363,357 | 87,060,114 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Income Statement [Abstract] | ||||
Revenue before provision for doubtful accounts | $ 760,916 | $ 728,712 | $ 2,268,895 | $ 2,143,696 |
Provision for doubtful accounts | (11,998) | (31,892) | ||
Revenue | 760,916 | 716,714 | 2,268,895 | 2,111,804 |
Salaries, wages and benefits (including equity-based compensation expense of $5,225, $4,175, $19,273 and $19,007, respectively) | 417,917 | 385,562 | 1,246,186 | 1,145,578 |
Professional fees | 59,509 | 53,042 | 166,988 | 142,772 |
Supplies | 29,461 | 28,652 | 88,958 | 85,000 |
Rents and leases | 19,866 | 19,049 | 60,390 | 57,455 |
Other operating expenses | 90,464 | 82,328 | 265,977 | 249,161 |
Depreciation and amortization | 39,659 | 36,442 | 119,360 | 105,256 |
Interest expense, net | 46,651 | 44,515 | 137,706 | 130,777 |
Debt extinguishment costs | 940 | 810 | ||
Transaction-related expenses | 2,353 | 5,665 | 10,008 | 18,836 |
Total expenses | 705,880 | 655,255 | 2,096,513 | 1,935,645 |
Income before income taxes | 55,036 | 61,459 | 172,382 | 176,159 |
Provision for income taxes | 8,757 | 15,970 | 16,339 | 46,259 |
Net income | 46,279 | 45,489 | 156,043 | 129,900 |
Net (income) loss attributable to noncontrolling interests | (47) | 129 | (156) | 306 |
Net income attributable to Acadia Healthcare Company, Inc. | $ 46,232 | $ 45,618 | $ 155,887 | $ 130,206 |
Earnings per share attributable to Acadia Healthcare Company, Inc. stockholders: | ||||
Basic | $ 0.53 | $ 0.52 | $ 1.79 | $ 1.50 |
Diluted | $ 0.53 | $ 0.52 | $ 1.78 | $ 1.50 |
Weighted-average shares outstanding: | ||||
Basic | 87,344 | 87,017 | 87,233 | 86,912 |
Diluted | 87,537 | 87,172 | 87,386 | 87,038 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Income Statement [Abstract] | ||||
Equity-based compensation expense | $ 5,225 | $ 4,175 | $ 19,273 | $ 19,007 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 46,279 | $ 45,489 | $ 156,043 | $ 129,900 |
Other comprehensive (loss) income: | ||||
Foreign currency translation (loss) gain | (31,959) | 69,622 | (82,778) | 188,744 |
Gain (loss) on derivative instruments, net of tax of $2.4 million, $(6.7) million, $5.6 million and $(18.8) million, respectively | 7,380 | (9,402) | 16,434 | (24,354) |
Other comprehensive (loss) income | (24,579) | 60,220 | (66,344) | 164,390 |
Comprehensive income | 21,700 | 105,709 | 89,699 | 294,290 |
Comprehensive (gain) loss attributable to noncontrolling interests | (47) | 129 | (156) | 306 |
Comprehensive income attributable to Acadia Healthcare Company, Inc. | $ 21,653 | $ 105,838 | $ 89,543 | $ 294,596 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Loss on derivative instruments, tax | $ 2.4 | $ (6.7) | $ 5.6 | $ (18.8) |
Condensed Consolidated Statem_5
Condensed Consolidated Statement of Equity (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Other Comprehensive Loss [Member] | Earnings (Accumulated Deficit) [Member] |
Balance at Dec. 31, 2017 | $ 2,572,871 | $ 871 | $ 2,517,545 | $ (374,118) | $ 428,573 |
Balance, shares at Dec. 31, 2017 | 87,060,114 | 87,060 | |||
Common stock issued under stock incentive plans | $ 244 | $ 3 | 241 | ||
Common stock issued under stock incentive plans, shares | 9,889 | 303 | |||
Common stock withheld for minimum statutory taxes | $ (2,516) | (2,516) | |||
Equity-based compensation expense | 19,273 | 19,273 | |||
Other comprehensive loss | (66,344) | (66,344) | |||
Other | 834 | 834 | |||
Net income attributable to Acadia Healthcare Company, Inc. | 155,887 | 155,887 | |||
Balance at Sep. 30, 2018 | $ 2,680,249 | $ 874 | $ 2,535,377 | $ (440,462) | $ 584,460 |
Balance, shares at Sep. 30, 2018 | 87,363,357 | 87,363 |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Operating activities: | ||
Net income | $ 156,043 | $ 129,900 |
Adjustments to reconcile net income to net cash provided by continuing operating activities: | ||
Depreciation and amortization | 119,360 | 105,256 |
Amortization of debt issuance costs | 7,763 | 7,340 |
Equity-based compensation expense | 19,273 | 19,007 |
Deferred income taxes | (1,738) | 29,416 |
Debt extinguishment costs | 940 | 810 |
Other | 3,025 | 10,672 |
Change in operating assets and liabilities: | ||
Accounts receivable, net | (43,252) | (28,681) |
Other current assets | 3,021 | 26,099 |
Other assets | 3,868 | (566) |
Accounts payable and other accrued liabilities | 9,230 | (26,381) |
Accrued salaries and benefits | 11,049 | (7,937) |
Other liabilities | 149 | 7,677 |
Net cash provided by continuing operating activities | 288,731 | 272,612 |
Net cash used in discontinued operating activities | (2,548) | (1,261) |
Net cash provided by operating activities | 286,183 | 271,351 |
Investing activities: | ||
Cash paid for capital expenditures | (249,989) | (193,817) |
Cash paid for real estate acquisitions | (9,391) | (33,297) |
Other | (3,114) | (6,062) |
Net cash used in investing activities | (262,494) | (233,176) |
Financing activities: | ||
Principal payments on long-term debt | (31,492) | (25,913) |
Common stock withheld for minimum statutory taxes, net | (2,272) | (3,278) |
Other | (6,973) | 1,649 |
Net cash used in financing activities | (40,737) | (27,542) |
Effect of exchange rate changes on cash | (1,314) | 7,965 |
Net (decrease) increase in cash and cash equivalents | (18,362) | 18,598 |
Cash and cash equivalents at beginning of the period | 67,290 | 57,063 |
Cash and cash equivalents at end of the period | $ 48,928 | $ 75,661 |
Description of Business and Bas
Description of Business and Basis of Presentation | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Description of Business and Basis of Presentation | 1. Description of Business and Basis of Presentation Description of Business Acadia Healthcare Company, Inc. (the “Company”) develops and operates inpatient psychiatric facilities, residential treatment centers, group homes, substance abuse facilities and facilities providing outpatient behavioral healthcare services to serve the behavioral health and recovery needs of communities throughout the United States (“U.S.”), the United Kingdom (“U.K.”) and Puerto Rico. At September 30, 2018, the Company operated 586 behavioral healthcare facilities with approximately 18,000 beds in 40 states, the U.K. and Puerto Rico. Basis of Presentation The business of the Company is conducted through limited liability companies, partnerships and C-corporations. The Company’s consolidated financial statements include the accounts of the Company and all subsidiaries controlled by the Company through its’ direct or indirect ownership of majority interests and exclusive rights granted to the Company as the controlling member of an entity. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation of our financial position and results of operations have been included. The Company’s fiscal year ends on December 31 and interim results are not necessarily indicative of results for a full year or any other interim period. The condensed consolidated balance sheet at December 31, 2017 has been derived from the audited financial statements as of that date. The information contained in these condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto for the fiscal year ended December 31, 2017 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2018. 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 accompanying notes. Actual results could differ from those estimates. Certain reclassifications have been made to prior years to conform to the current year presentation. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Changes And Error Corrections [Abstract] | |
Recently Issued Accounting Standards | 2. Recently Issued Accounting Standards In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” In January 2017, the FASB issued ASU 2017-04, “Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” In March 2016, the FASB issued ASU 2016-02, “Leases” In January 2016, the FASB issued ASU 2016-01, “Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” In May 2014, the FASB and the International Accounting Standards Board issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” |
Revenue
Revenue | 9 Months Ended |
Sep. 30, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Revenue | 3. Revenue ASU 2014-09 requires companies to exercise more judgment and recognize revenue using a five-step process. The Company adopted ASU 2014-09 using the modified retrospective method for all contracts effective January 1, 2018 and is using a portfolio approach to group contracts with similar characteristics and analyze historical cash collections trends. Modified retrospective adoption requires entities to apply the standard retrospectively to the most current period presented in the financial statements, requiring the cumulative effect of the retrospective application as an adjustment to the opening balance of retained earnings at the date of initial application. Prior periods have not been adjusted. No cumulative-effect adjustment in retained earnings was recorded as the adoption of ASU 2014-09 did not significantly impact the Company’s reported historical revenue. As a result of certain changes required by ASU 2014-09, the majority of the Company’s provision for doubtful accounts are recorded as a direct reduction to revenue instead of being presented as a separate line item on the condensed consolidated statements of income. The adoption of ASU 2014-09 has no impact on the Company’s accounts receivable as it was historically recorded net of allowance for doubtful accounts and contractual adjustments, and the Company has eliminated the presentation of allowance for doubtful accounts on the condensed consolidated balance sheets. The adoption of ASU 2014-09 did not have a significant impact on the Company’s condensed consolidated statements of income. The impact of adopting ASU 2014-09 on the condensed consolidated statements of income for the three and nine months ended September 30, 2018 was as follows (in thousands): Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 As Reported Prior to Adopting ASU 2014-09 As Reported Prior to Adopting ASU 2014-09 Revenue before provision for doubtful accounts $ 760,916 $ 772,380 $ 2,268,895 $ 2,298,084 Provision for doubtful accounts — (11,464 ) — (29,189 ) Revenue $ 760,916 $ 760,916 $ 2,268,895 $ 2,268,895 The Company evaluated the nature, amount, timing and uncertainty of revenue and cash flows using the five-step process provided within ASU 2014-09. Revenue is primarily derived from services rendered to patients for inpatient psychiatric and substance abuse care, outpatient psychiatric care and adolescent residential treatment. The services provided by the Company have no fixed duration and can be terminated by the patient or the facility at any time, and therefore, each treatment is its own stand-alone contract. Services ordered by a healthcare provider in an episode of care are not separately identifiable and therefore have been combined into a single performance obligation for each contract. The Company recognizes revenue as its performance obligations are completed. The performance obligation is satisfied over time as the customer simultaneously receives and consumes the benefits of As our performance obligations relate to contracts with a duration of one year or less, the Company elected the optional exemption in ASC 606-10-50-14(a). Therefore, the Company is not required to disclose the transaction price for the remaining performance obligations at the end of the reporting period or when the Company expects to recognize the revenue. The Company has minimal unsatisfied performance obligations at the end of the reporting period as our patients typically are under no obligation to remain admitted in our facilities. The Company disaggregates revenue from contracts with customers by service type and by payor within each of the Company’s segments. U.S. Facilities The Company’s facilities in the United States (the “U.S. Facilities”) and services provided by the U.S. Facilities can generally be classified into the following categories: acute inpatient psychiatric facilities; specialty treatment facilities; residential treatment centers; and outpatient community-based services. Acute inpatient psychiatric facilities. Acute inpatient psychiatric facilities provide a high level of care in order to stabilize patients that are either a threat to themselves or to others. The acute setting provides 24-hour observation, daily intervention and monitoring by psychiatrists. Specialty treatment facilities . Specialty treatment facilities include residential recovery facilities, eating disorder facilities and comprehensive treatment centers. The Company provides a comprehensive continuum of care for adults with addictive disorders and co-occurring mental disorders. Inpatient, including detoxification and rehabilitation, partial hospitalization and outpatient treatment programs give patients access to the least restrictive level of care. Residential treatment centers . Residential treatment centers treat patients with behavioral disorders in a non-hospital setting, including outdoor programs. The facilities balance therapy activities with social, academic and other activities. Outpatient community-based services . Outpatient community-based programs are designed to provide therapeutic treatment to children and adolescents who have a clinically-defined emotional, psychiatric or chemical dependency disorder while enabling the youth to remain at home and within their community. The table below presents total U.S. revenue attributed to each category (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Acute inpatient psychiatric facilities $ 208,885 $ 187,497 $ 608,311 $ 566,173 Specialty treatment facilities 198,107 183,290 575,536 543,079 Residential treatment centers 72,351 72,677 218,041 213,300 Outpatient community-based services 9,283 10,214 30,613 32,763 Revenue $ 488,626 $ 453,678 $ 1,432,501 $ 1,355,315 The Company receives payments from the following sources for services rendered in our U.S. Facilities: (i) state governments under their respective Medicaid and other programs; (ii) commercial insurers; (iii) the federal government under the Medicare program administered by the Centers for Medicare and Medicaid Services (“CMS”); and (iv) individual patients and clients. As the period between the time of service and time of payment is typically one year or less, the Company elected the practical expedient under ASC 606-10-32-18 and did not adjust for the effects of a significant financing component. The Company determines the transaction price based on established billing rates reduced by contractual adjustments provided to third-party payors, discounts provided to uninsured patients and implicit price concessions. Contractual adjustments and discounts are based on contractual agreements, discount policies and historical experience. Implicit price concessions are based on historical collection experience. Most of our U.S. Facilities have contracts containing variable consideration. However, it is unlikely a significant reversal of revenue will occur when the uncertainty is resolved, and therefore, the Company has included the variable consideration in the estimated transaction price. Subsequent changes resulting from a patient’s ability to pay are recorded as bad debt expense, which is included as a component of other operating expenses in the condensed consolidating statements of income. Bad debt expense for the three and nine months ended September 30, 2018 was not significant. The Company derives a significant portion of its revenue from Medicare, Medicaid and other payors that receive discounts from established billing rates. The Medicare and Medicaid regulations and various managed care contracts under which these discounts must be calculated are complex, subject to interpretation and adjustment, and may include multiple reimbursement mechanisms for different types of services provided in the Company’s inpatient facilities and cost settlement provisions. Management estimates the transaction price on a payor-specific basis given its interpretation of the applicable regulations or contract terms. The services authorized and provided and related reimbursement are often subject to interpretation that could result in payments that differ from the Company’s estimates. Additionally, updated regulations and contract renegotiations occur frequently, necessitating regular review and assessment of the estimation process by management. Settlements under cost reimbursement agreements with third-party payors are estimated and recorded in the period in which the related services are rendered and are adjusted in future periods as final settlements are determined. Final determination of amounts earned under the Medicare and Medicaid programs often occurs in subsequent years because of audits by such programs, rights of appeal and the application of numerous technical provisions. In the opinion of management, adequate provision has been made for any adjustments and final settlements. However, there can be no assurance that any such adjustments and final settlements will not have a material effect on the Company’s financial condition or results of operations. The Company’s cost report receivables were $10.9 million at both September 30, 2018 and December 31, 2017, respectively, and were included in other current assets in the condensed consolidated balance sheets. Management believes that these receivables are properly stated and are not likely to be settled for a significantly different amount. The net adjustments to estimated cost report settlements were not significant for the three and nine months ended September 30, 2018. Management believes that we comply in all material respects with applicable laws and regulations and is not aware of any material pending or threatened investigations involving allegations of wrongdoing. Compliance with such laws and regulations can be subject to future government review and interpretation, as well as significant regulatory action including fines, penalties and exclusion from the Medicare and Medicaid programs. The Company provides care without charge to patients who are financially unable to pay for the healthcare services they receive based on Company policies and federal and state poverty thresholds. Such amounts determined to qualify as charity care are not reported as revenue. The cost of providing charity care services were $1.0 million and $1.3 million for the three months ended September 30, 2018 and 2017, respectively. The cost of providing charity care services were $3.8 million and $4.2 million for the nine months ended September 30, 2018 and 2017, respectively. The estimated cost of charity care services was determined using a ratio of cost to gross charges determined from our most recently filed Medicare cost reports and applying that ratio to the gross charges associated with providing charity care for the period. The following table presents revenue generated by each payor type (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Commercial $ 146,439 $ 142,870 $ 431,337 $ 431,818 Medicare 73,528 73,593 210,307 212,992 Medicaid 229,390 199,592 668,236 587,705 Self-Pay 33,559 43,685 103,845 130,928 Other 5,710 5,936 18,776 23,758 Revenue before provision for doubtful accounts 488,626 465,676 1,432,501 1,387,201 Provision for doubtful accounts — (11,998 ) — (31,886 ) Revenue $ 488,626 $ 453,678 $ 1,432,501 $ 1,355,315 U.K. Facilities The Company’s facilities located in the United Kingdom (the “U.K. Facilities”) and services provided by the U.K. Facilities can generally be classified into the following categories: healthcare facilities, education and children’s services, adult care facilities and elderly care facilities. Healthcare facilities . Healthcare facilities provide psychiatric treatment and nursing for sufferers of mental disorders, including for patients whose risk of harm to others and risk of escape from hospitals cannot be managed safely within other mental health settings. In order to manage the risks involved with treating patients, the facility is managed through the application of a range of security measures depending on the level of dependency and risk exhibited by the patient. Education and children’s services. Education and children’s services provide specialist education for children and young people with special educational needs, including autism, Asperger’s Syndrome, social, emotional and mental health, and specific learning difficulties, such as dyslexia. The division also offers standalone children’s homes for children that require 52-week residential care to support complex and challenging behavior and fostering services. Adult care facilities . Adult care focuses on care of individuals with a variety of learning difficulties, mental health illnesses and adult autism spectrum disorders. It also includes long-term, short-term and respite nursing care to high-dependency elderly individuals who are physically frail or suffering from dementia. Care is provided in a number of settings, including in residential care homes and through supported living. The table below presents total U.K. revenue attributed to each category (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Healthcare facilities $ 150,871 $ 146,264 $ 464,731 $ 419,549 Education and Children’s Services 46,966 42,441 145,609 124,337 Adult Care facilities 74,453 74,331 226,054 212,603 Revenue $ 272,290 $ 263,036 $ 836,394 $ 756,489 The Company receives payments from approximately 500 public funded sources in the U.K. (including the National Health Service (“NHS”), Clinical Commissioning Groups (“CCGs”) and local authorities in England, Scotland and Wales) and individual patients and clients. The Company determines the transaction price based on established billing rates by payor and is reduced by implicit price concessions. Implicit price concessions are insignificant in our U.K. Facilities. There is no significant variable consideration in our U.K. Facilities’ contracts. As the period between the time of service and time of payment is typically one year or less, the Company elected the practical expedient under ASC 606-10-32-18 and did not adjust for the effects of a significant financing component. The following table presents revenue generated by each payor type (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 U.K. public funded sources $ 245,919 $ 236,778 $ 756,094 $ 678,623 Self-Pay 26,159 24,572 78,499 70,662 Other 212 1,686 1,801 7,210 Revenue before provision for doubtful accounts 272,290 263,036 836,394 756,495 Provision for doubtful accounts — — — (6 ) Revenue $ 272,290 $ 263,036 $ 836,394 $ 756,489 The Company’s contract liabilities primarily consist of unearned revenue in our U.K. Facilities due to the timing of payments received mainly in our education and children’s services and healthcare facilities. Contract liabilities are included in other accrued liabilities on the condensed consolidated balance sheets. A summary of the activity in unearned revenue in the U.K. Facilities is as follows (in thousands): Balance at December 31, 2017 $ 30,812 Payments received 126,506 Revenue recognized (124,894 ) Foreign currency translation loss (1,687 ) Balance at September 30, 2018 $ 30,737 |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 4. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2018 and 2017 (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Numerator: Net income attributable to Acadia Healthcare Company, Inc. $ 46,232 $ 45,618 $ 155,887 $ 130,206 Denominator: Weighted average shares outstanding for basic earnings per share 87,344 87,017 87,233 86,912 Effect of dilutive instruments 193 155 153 126 Shares used in computing diluted earnings per common share 87,537 87,172 87,386 87,038 Earnings per share attributable to Acadia Healthcare Company, Inc. stockholders: Basic $ 0.53 $ 0.52 $ 1.79 $ 1.50 Diluted $ 0.53 $ 0.52 $ 1.78 $ 1.50 Approximately 1.6 million and 1.0 million shares of common stock issuable upon exercise of outstanding stock option awards were excluded from the calculation of diluted earnings per share for the three months ended September 30, 2018 and 2017, respectively, because their effect would have been anti-dilutive. Approximately 1.9 million and 1.5 million shares of common stock issuable upon exercise of outstanding stock option awards were excluded from the calculation of diluted earnings per share for the nine months ended September 30, 2018 and 2017, respectively, because their effect would have been anti-dilutive. |
Other Intangible Assets
Other Intangible Assets | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Other Intangible Assets | 5. Other Intangible Assets Other identifiable intangible assets and related accumulated amortization consisted of the following at September 30, 2018 and December 31, 2017 (in thousands): Gross Carrying Amount Accumulated Amortization September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Intangible assets subject to amortization: Contract intangible assets $ 2,100 $ 2,100 $ (2,100 ) $ (2,100 ) Non-compete agreements 1,147 1,147 (1,147 ) (1,147 ) 3,247 3,247 (3,247 ) (3,247 ) Intangible assets not subject to amortization: Licenses and accreditations 12,766 12,266 — — Trade names 61,675 60,586 — — Certificates of need 16,818 14,496 — — 91,259 87,348 — — Total $ 94,506 $ 90,595 $ (3,247 ) $ (3,247 ) All the Company’s defined-lived intangible assets are fully amortized. The Company’s licenses and accreditations, trade names and certificate of need intangible assets have indefinite lives and are, therefore, not subject to amortization. |
Property and Equipment
Property and Equipment | 9 Months Ended |
Sep. 30, 2018 | |
Property Plant And Equipment [Abstract] | |
Property and Equipment | 6. Property and Equipment Property and equipment consists of the following at September 30, 2018 and December 31, 2017 (in thousands): September 30, 2018 December 31, 2017 Land $ 444,579 $ 450,342 Building and improvements 2,443,980 2,370,918 Equipment 434,205 400,596 Construction in progress 249,001 173,693 3,571,765 3,395,549 Less accumulated depreciation (445,123 ) (347,419 ) Property and equipment, net $ 3,126,642 $ 3,048,130 |
Long-Term Debt
Long-Term Debt | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | 7. Long-Term Debt Long-term debt consisted of the following (in thousands): September 30, 2018 December 31, 2017 Amended and Restated Senior Credit Facility: Senior Secured Term A Loans $ 370,500 $ 380,000 Senior Secured Term B Loans 1,376,408 1,398,400 Senior Secured Revolving Line of Credit — — 6.125% Senior Notes due 2021 150,000 150,000 5.125% Senior Notes due 2022 300,000 300,000 5.625% Senior Notes due 2023 650,000 650,000 6.500% Senior Notes due 2024 390,000 390,000 9.0% and 9.5% Revenue Bonds 21,920 21,920 Less: unamortized debt issuance costs, discount and premium (43,602 ) (50,432 ) 3,215,226 3,239,888 Less: current portion (33,264 ) (34,830 ) Long-term debt $ 3,181,962 $ 3,205,058 Amended and Restated Senior Credit Facility The Company entered into a senior secured credit facility (the “Senior Secured Credit Facility”) on April 1, 2011. On December 31, 2012, the Company entered into an Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement”) which amended and restated the Senior Secured Credit Facility (the “Amended and Restated Senior Credit Facility”). The Company has amended the Amended and Restated Credit Agreement from time to time as described in the Company’s prior filings with the SEC. On May 10, 2017, the Company entered into a Third Repricing Amendment (the “Third Repricing Amendment”) to the Amended and Restated Credit Agreement. The Third Repricing Amendment reduced the Applicable Rate with respect to the Term Loan B facility Tranche B-1 (the “Tranche B-1 Facility”) and the Term Loan B facility Tranche B-2 (the “Tranche B-2 Facility”) from 3.00% to 2.75% in the case of Eurodollar Rate loans and from 2.00% to 1.75% in the case of Base Rate Loans. In connection with the Third Repricing Amendment, the Company recorded a debt extinguishment charge of $0.8 million, including the discount and write-off of deferred financing costs, which was recorded in debt extinguishment costs in the condensed consolidated statements of income. On March 22, 2018, the Company entered into a Second Repricing Facilities Amendment (the “Second Repricing Facilities Amendment”) to the Amended and Restated Credit Agreement. The Second Repricing Facilities Amendment (i) replaced the Tranche B-1 Facility and the Tranche B-2 Facility with a new Term Loan B facility Tranche B-3 (the “Tranche B-3 Facility”) and a new Term Loan B facility Tranche B-4 (the “Tranche B-4 Facility”), respectively, and (ii) reduced the Applicable Rate from 2.75% to 2.50% in the case of Eurodollar Rate loans and reduced the Applicable Rate from 1.75% to 1.50% in the case of Base Rate Loans. On March 29, 2018, the Company entered into a Third Repricing Facilities Amendment to the Amended and Restated Credit Agreement (the “Third Repricing Facilities Amendment”, and together with the Second Repricing Facilities Amendment, the “Repricing Facilities Amendments”). The Third Repricing Facilities Amendment replaced the existing revolving credit facility and Term Loan A facility (“TLA Facility”) with a new revolving credit facility and TLA Facility, respectively. The Company’s line of In connection with the Repricing Facilities Amendments, the Company recorded a debt extinguishment charge of $0.9 million, including the discount and write-off of deferred financing costs, which was recorded in debt extinguishment costs in the condensed consolidated statements of income. The Company had $494.1 million of availability under the revolving line of credit and had standby letters of credit outstanding of $5.9 million related to security for the payment of claims required by its workers’ compensation insurance program at September 30, 2018. Borrowings under the revolving line of credit are subject to customary conditions precedent to borrowing. The Amended and Restated Credit Agreement requires quarterly term loan principal repayments of our TLA Facility of $4.8 million for December 31, 2018 to December 31, 2019, $7.1 million for March 31, 2020 to December 31, 2020, and $9.5 million for March 31, 2021 to September 30, 2021, with the remaining principal balance of the TLA Facility due on the maturity date of November 30, 2021. The Company is required to repay the Tranche B-3 Facility in equal quarterly installments of $1.2 million on the last business day of each March, June, September and December, with the outstanding principal balance of the Tranche B-3 Facility due on February 11, 2022. The Company is required to repay the Tranche B-4 Facility in equal quarterly installments of approximately $2.3 million on the last business day of each March, June, September and December, with the outstanding principal balance of the Tranche B-4 Facility due on February 16, 2023. On December 29, 2017, the Company made an additional payment of $22.5 million, including $7.7 million on the Tranche B-1 Facility and $14.8 million on the Tranche B-2 Facility. On April 17, 2018, the Company made an additional payment of $15.0 million, including $5.1 million on the Tranche B-3 Facility and $9.9 million on the Tranche B-4 Facility. Borrowings under the Amended and Restated Senior Credit Facility are guaranteed by each of the Company’s wholly-owned domestic subsidiaries (other than certain excluded subsidiaries) and are secured by a lien on substantially all of the assets of the Company and such subsidiaries. Borrowings with respect to the TLA Facility and the Company’s revolving credit facility (collectively, “Pro Rata Facilities”) under the Amended and Restated Credit Agreement bear interest at a rate tied to Acadia’s Consolidated Leverage Ratio (defined as consolidated funded debt net of up to $40.0 million of unrestricted and unencumbered cash to consolidated EBITDA, in each case as defined in the Amended and Restated Credit Agreement). The Applicable Rate (as defined in the Amended and Restated Credit Agreement) for the Pro Rata Facilities was 2.50% for Eurodollar Rate Loans (as defined in the Amended and Restated Credit Agreement) and 1.50% for Base Rate Loans (as defined in the Amended and Restated Credit Agreement) at September 30, 2018. Eurodollar Rate Loans with respect to the Pro Rata Facilities bear interest at the Applicable Rate plus the Eurodollar Rate (as defined in the Amended and Restated Credit Agreement) (based upon the LIBOR Rate (as defined in the Amended and Restated Credit Agreement) prior to commencement of the interest rate period). Base Rate Loans with respect to the Pro Rata Facilities bear interest at the Applicable Rate plus the highest of (i) the federal funds rate plus 0.50%, (ii) the prime rate and (iii) the Eurodollar Rate plus 1.00%. At September 30, 2018, the Pro Rata Facilities bore interest at a rate of LIBOR plus 2.50%. In addition, the Company is required to pay a commitment fee on undrawn amounts under the revolving line of credit. The Amended and Restated Credit Agreement requires the Company and its subsidiaries to comply with customary affirmative, negative and financial covenants, including a fixed charge coverage ratio, consolidated leverage ratio and senior secured leverage ratio. The Company may be required to pay all of its indebtedness immediately if it defaults on any of the numerous financial or other restrictive covenants contained in any of its material debt agreements. At September 30, 2018, the Company was in compliance with such covenants. Senior Notes 6.125% Senior Notes due 2021 On March 12, 2013, the Company issued $150.0 million of 6.125% Senior Notes due 2021 (the “6.125% Senior Notes”). The 6.125% Senior Notes mature on March 15, 2021 and bear interest at a rate of 6.125% per annum, payable semi-annually in arrears on March 15 and September 15 of each year. 5.125% Senior Notes due 2022 On July 1, 2014, the Company issued $300.0 million of 5.125% Senior Notes due 2022 (the “5.125% Senior Notes”). The 5.125% Senior Notes mature on July 1, 2022 and bear interest at a rate of 5.125% per annum, payable semi-annually in arrears on January 1 and July 1 of each year. 5.625% Senior Notes due 2023 On February 11, 2015, the Company issued $375.0 million of 5.625% Senior Notes due 2023 (the “5.625% Senior Notes”). On September 21, 2015, the Company issued $275.0 million of additional 5.625% Senior Notes. The additional notes formed a single class of debt securities with the 5.625% Senior Notes issued in February 2015. Giving effect to this issuance, the Company has outstanding an aggregate of $650.0 million of 5.625% Senior Notes. The 5.625% Senior Notes mature on February 15, 2023 and bear interest at a rate of 5.625% per annum, payable semi-annually in arrears on February 15 and August 15 of each year. 6.500% Senior Notes due 2024 On February 16, 2016, the Company issued $390.0 million of 6.500% Senior Notes due 2024 (the “6.500% Senior Notes”). The 6.500% Senior Notes mature on March 1, 2024 and bear interest at a rate of 6.500% per annum, payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2016. The indentures governing the 6.125% Senior Notes, 5.125% Senior Notes, 5.625% Senior Notes and 6.500% Senior Notes (together, the “Senior Notes”) contain covenants that, among other things, limit the Company’s ability and the ability of its restricted subsidiaries to: (i) pay dividends, redeem stock or make other distributions or investments; (ii) incur additional debt or issue certain preferred stock; (iii) transfer or sell assets; (iv) engage in certain transactions with affiliates; (v) create restrictions on dividends or other payments by the restricted subsidiaries; (vi) merge, consolidate or sell substantially all of the Company’s assets; and (vii) create liens on assets. The Senior Notes issued by the Company are guaranteed by each of the Company’s subsidiaries that guarantee the Company’s obligations under the Amended and Restated Senior Credit Facility. The guarantees are full and unconditional and joint and several. The Company may redeem the Senior Notes at its option, in whole or part, at the dates and amounts set forth in the indentures. 9.0% and 9.5% Revenue Bonds On November 11, 2012, in connection with the acquisition of The Pavilion at HealthPark, LLC (“Park Royal”), the Company assumed debt of $23.0 million. The fair market value of the debt assumed was $25.6 million and resulted in a debt premium balance being recorded as of the acquisition date. The debt consisted of $7.5 million and $15.5 million of Lee County (Florida) Industrial Development Authority Healthcare Facilities Revenue Bonds, Series 2010 with stated interest rates of 9.0% and 9.5% (“9.0% and 9.5% Revenue Bonds”), respectively. The 9.0% bonds in the amount of $7.5 million have a maturity date of December 1, 2030 and require yearly principal payments beginning in 2013. The 9.5% bonds in the amount of $15.5 million have a maturity date of December 1, 2040 and require yearly principal payments beginning in 2031. The principal payments establish a bond sinking fund to be held with the trustee and shall be sufficient to redeem the principal amounts of the 9.0% and 9.5% Revenue Bonds on their respective maturity dates. At September 30, 2018 and December 31, 2017, $2.3 million was recorded within other assets on the condensed consolidated balance sheets related to the debt service reserve fund requirements. The yearly principal payments, which establish a bond sinking fund, will increase the debt service reserve fund requirements. The bond premium amount of $2.6 million is amortized as a reduction of interest expense over the life of the revenue bonds using the effective interest method. |
Equity-Based Compensation
Equity-Based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity-Based Compensation | 8 . Equity-Based Compensation Equity Incentive Plans The Company issues stock-based awards, including stock options, restricted stock and restricted stock units, to certain officers, employees and non-employee directors under the Acadia Healthcare Company, Inc. Incentive Compensation Plan (the “Equity Incentive Plan”). At September 30, 2018, a maximum of 8,200,000 shares of the Company’s common stock were authorized for issuance as stock options, restricted stock and restricted stock units or other share-based compensation under the Equity Incentive Plan, of which 3,233,738 were available for future grant. Stock options may be granted for terms of up to ten years. The Company recognizes expense on all share-based awards on a straight-line basis over the requisite service period of the entire award. Grants to employees generally vest in annual increments of 25% each year, commencing one year after the date of grant. The exercise prices of stock options are equal to the most recent closing price of the Company’s common stock on the date of grant. The Company recognized $5.2 million and $4.2 million in equity-based compensation expense for the three months ended September 30, 2018 and 2017, respectively, and $19.3 million and $19.0 million for the nine months ended September 30, 2018 and 2017. At September 30, 2018, there was $47.8 million of unrecognized compensation expense related to unvested options, restricted stock and restricted stock units, which is expected to be recognized over the remaining weighted average vesting period of 1.2 years. At September 30, 2018, there were no warrants outstanding. The Company recognized a deferred income tax benefit of $1.4 million and $1.5 million for the three months ended September 30, 2018 and 2017, respectively, related to equity-based compensation expense. The Company recognized a deferred income tax benefit of $5.2 million and $7.3 million for the nine months ended September 30, 2018 and 2017, respectively, related to equity-based compensation expense. Stock Options Stock option activity during 2017 and 2018 was as follows (aggregate intrinsic value in thousands): Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Options outstanding at January 1, 2017 1,000,946 $ 49.42 7.80 $ 8,166 Options granted 259,300 42.25 9.30 205 Options exercised (87,367 ) 25.92 N/A 1,636 Options cancelled (198,313 ) 54.71 N/A N/A Options outstanding at December 31, 2017 974,566 47.89 7.46 3,802 Options granted 353,800 37.36 9.42 475 Options exercised (9,889 ) 24.67 N/A 165 Options cancelled (102,787 ) 51.23 N/A N/A Options outstanding at September 30, 2018 1,215,690 $ 44.69 7.43 $ 3,536 Options exercisable at December 31, 2017 405,634 $ 41.20 6.05 $ 3,549 Options exercisable at September 30, 2018 543,139 $ 44.65 5.87 $ 2,835 Fair values are estimated using the Black-Scholes option pricing model. The following table summarizes the grant-date fair value of options and the assumptions used to develop the fair value estimates for options granted during the nine months ended September 30, 2018 and year ended December 31, 2017: September 30, 2018 December 31, 2017 Weighted average grant-date fair value of options $ 13.61 $ 14.39 Risk-free interest rate 2.2 % 2.0 % Expected volatility 37 % 33 % Expected life (in years) 5.0 5.5 The Company’s estimate of expected volatility for stock options is based upon the volatility of our stock price over the expected life of the award. The risk-free interest rate is the approximate yield on U. S. Treasury Strips having a life equal to the expected option life on the date of grant. The expected life is an estimate of the number of years an option will be held before it is exercised. Other Stock-Based Awards Restricted stock activity during 2017 and 2018 was as follows: Number of Shares Weighted Average Grant-Date Fair Value Unvested at January 1, 2017 844,419 $ 55.76 Granted 404,224 42.38 Cancelled (145,981 ) 55.03 Vested (292,794 ) 53.07 Unvested at December 31, 2017 809,868 $ 50.19 Granted 441,837 36.51 Cancelled (71,067 ) 48.36 Vested (283,077 ) 53.24 Unvested at September 30, 2018 897,561 $ 42.64 Restricted stock unit activity during 2017 and 2018 was as follows: Number of Units Weighted Average Grant-Date Fair Value Unvested at January 1, 2017 273,599 $ 59.68 Granted 219,840 43.23 Cancelled — — Vested (132,530 ) 58.67 Unvested at December 31, 2017 360,909 $ 50.04 Granted 285,358 42.26 Cancelled (87,173 ) 55.44 Vested (72,983 ) 49.64 Unvested at September 30, 2018 486,111 $ 44.52 Restricted stock awards are time-based vesting awards that vest over a period of three or four years and are subject to continuing service of the employee or non-employee director over the ratable vesting periods. The fair values of the restricted stock awards were determined based on the closing price of the Company’s common stock on the trading date immediately prior to the grant date. Restricted stock units are granted to employees and are subject to Company performance compared to pre-established targets and, in the case of the 2018 awards, Company performance compared to peers. In addition to Company performance, these performance-based restricted stock units are subject to the continuing service of the employee during the two- or three-year period covered by the awards. The performance condition for the restricted stock units is based on the Company’s achievement of annually established targets for diluted earnings per share. Additionally, the number of shares issuable pursuant to restricted stock units granted during 2018 is subject to adjustment based on the Company’s three-year annualized total stockholder return relative to a peer group consisting of S&P 1500 companies within the Healthcare Providers & Services 6 digit GICS industry group and selected other companies deemed to be peers. The number of shares issuable at the end of the applicable vesting period of restricted stock units ranges from 0% to 200% of the targeted units based on the Company’s actual performance compared to the targets and, for 2018 awards, performance compared to peers. The fair values of restricted stock units were determined based on the closing price of the Company’s common stock on the trading date immediately prior to the grant date for units subject to performance conditions, or at its Monte-Carlo simulation value for units subject to market conditions. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 9. Income Taxes The provision for income taxes for the three months ended September 30, 2018 and 2017 reflects effective tax rates of 15.9% and 26.0%, respectively. The provision for income taxes for the nine months ended September 30, 2018 and 2017 reflects effective tax rates of 9.5% and 26.3%, respectively. The decrease in the effective tax rate for the three and nine months ended September 30, 2018 and 2017 was primarily attributable to the application of Public Law 115-97, informally referred to as the Tax Cuts and Jobs Act (the “Tax Act”) and a discrete benefit of $10.5 million recorded in the nine months ended September 30, 2018 related to a change in the Company’s provisional amount recorded at December 31, 2017. The Company adopted ASU 2016-09, “Improvements to Employee Share-Based Payment Accounting” U.S. Tax Reform On December 22, 2017, the Tax Act was enacted into law. The Tax Act provides for significant changes to the U.S. tax code that impact businesses. Effective January 1, 2018, the Tax Act reduces the U.S. federal tax rate for corporations from 35% to 21%, for U.S. taxable income. The Tax Act requires a one-time remeasurement of deferred taxes to reflect their value at a lower tax rate of 21%. The Tax Act includes other changes, including, but not limited to, requiring a one-time transition tax on certain repatriated earnings of foreign subsidiaries that is payable over eight years, a general elimination of U.S. federal income taxes on dividends from foreign subsidiaries, a new provision designed to tax global intangible low-taxed income, a limitation of the deduction for net operating losses, elimination of net operating loss carrybacks, immediate deductions for depreciation expense for certain qualified property, additional limitations on the deductibility of executive compensation and limitations on the deductibility of interest. Accounting Standards Codification (“ASC”) 740 “Income Taxes” At September 30, 2018, the Company had not completed its accounting for the tax effects of enactment of the Tax Act; however, in certain cases, as described below, the Company has made a reasonable estimate of the effects on its existing deferred tax balances. The Company has recognized a cumulative provisional amount of $19.3 million at September 30, 2018 related to the remeasurement of its deferred tax balance. In addition, the Company has recorded a one-time transition tax lability in relation to its foreign subsidiaries of $0.0 million at September 30, 2018. The amount may change when the calculation of post-1986 foreign earnings and profits previously deferred from U.S. federal taxation is finalized. Provisional Amounts Deferred Tax Assets and Liabilities The Company remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21%. As a result of the reduction in the corporate income tax rate, the Company is required to revalue its net deferred tax assets and liabilities to account for the future impact of lower corporate tax rates on this deferred amount and record any change in the value of such asset or liability as a one-time non-cash charge or benefit on its income statement. However, the Company is still analyzing certain aspects of the Tax Act, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. The Company has recognized a cumulative provisional amount of $19.3 million at September 30, 2018 related to the remeasurement of its deferred tax balance. U.S. Tax on Foreign Earnings The one-time transition tax is based on total post-1986 earnings and profits that the Company previously deferred from U.S. income taxes. The Company has made sufficient progress on the earnings and profits analysis for its foreign subsidiaries to reasonably estimate the effects of the one-time transition tax and has recorded a provisional amount of $0.0 million at September 30, 2018. This amount may change when the Company finalizes the calculation of post-1986 foreign earnings and profit. As part of the analysis of the Tax Act, the Company made an adjustment regarding the treatment of foreign dividends of $10.9 million during the nine months ended September 30, 2018. The change in the provisional estimate recorded at December 31, 2017 was recognized under the law that existed prior to December 22, 2017. The Company has estimated the impacts for Global Intangible Low-Taxed Income, Foreign-Derived Intangible Income, the Base Erosion and Anti-Abuse Tax and any remaining impacts of the foreign income provisions of the Tax Act. The Company has made sufficient progress to reasonably estimate the effects of the aforementioned items and has recorded a provisional amount of $0.0 million at September 30, 2018. |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives | 10. Derivatives The Company entered into foreign currency forward contracts during the three and nine months ended September 30, 2018 and 2017 in connection with certain transfers of cash between the U.S. and U.K. under the Company’s cash management and foreign currency risk management programs. Foreign currency forward contracts limit the economic risk of changes in the exchange rate between U.S. Dollars (“USD”) and British Pounds (“GBP”) associated with cash transfers. In May 2016, the Company entered into multiple cross currency swap agreements with an aggregate notional amount of $650.0 million to manage foreign currency risk by effectively converting a portion of its fixed-rate USD-denominated senior notes, including the semi-annual interest payments thereunder, to fixed-rate GBP-denominated debt of £449.3 million. During the term of the swap agreements, the Company will receive semi-annual interest payments in USD from the counterparties at fixed interest rates, and the Company will make semi-annual interest payments in GBP to the counterparties at fixed interest rates. The interest payments under the cross-currency swap agreements result in £24.7 million of annual cash flows, from the Company’s U.K. business being converted to $35.8 million (at a 1.45 exchange rate). The Company has designated the cross currency swap agreements and forward contracts entered into during 2017 and the nine months ended September 30, 2018 as qualifying hedging instruments and is accounting for these as net investment hedges. The fair value of these derivatives of $33.1 million is recorded as derivative instrument assets on the condensed consolidated balance sheets. The gains and losses resulting from fair value adjustments to the cross currency swap agreements are recorded in accumulated other comprehensive loss as the swaps are effective in hedging the designated risk. Cash flows related to the cross currency swap derivatives are included in operating activities in the condensed consolidated statements of cash flows. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 11. Fair Value Measurements The carrying amounts reported for cash and cash equivalents, accounts receivable, other current assets, accounts payable and other current liabilities approximate fair value because of the short-term maturity of these instruments. The carrying amounts and fair values of the Company’s Amended and Restated Senior Credit Facility, 6.125% Senior Notes, 5.125% Senior Notes, 5.625% Senior Notes, 6.500% Senior Notes, 9.0% and 9.5% Revenue Bonds and derivative instruments at September 30, 2018 and December 31, 2017 were as follows (in thousands): Carrying Amount Fair Value September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Amended and Restated Senior Credit Facility $ 1,722,010 $ 1,749,185 $ 1,722,010 $ 1,749,185 6.125% Senior Notes due 2021 $ 148,514 $ 148,098 $ 149,257 $ 150,134 5.125% Senior Notes due 2022 $ 296,750 $ 296,174 $ 296,008 $ 296,914 5.625% Senior Notes due 2023 $ 642,932 $ 641,891 $ 647,561 $ 651,519 6.500% Senior Notes due 2024 $ 383,033 $ 382,251 $ 395,960 $ 397,541 9.0% and 9.5% Revenue Bonds $ 21,987 $ 22,289 $ 21,987 $ 22,289 Derivative instrument assets $ 33,084 $ 12,997 $ 33,084 $ 12,997 The Company’s Amended and Restated Senior Credit Facility, 6.125% Senior Notes, 5.125% Senior Notes, 5.625% Senior Notes, 6.500% Senior Notes and 9.0% and 9.5% Revenue Bonds were categorized as Level 2 in the GAAP fair value hierarchy. Fair values were based on trading activity among the Company’s lenders and the average bid and ask price as determined using published rates. The fair values of the derivative instruments were categorized as Level 2 in the GAAP fair value hierarchy and were based on observable market inputs including applicable exchange rates and interest rates. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 12. Commitments and Contingencies Professional and General Liability A portion of the Company’s professional liability risks are insured through a wholly-owned insurance subsidiary. The Company is self-insured for professional liability claims up to $3.0 million per claim and has obtained reinsurance coverage from a third party to cover claims in excess of the retention limit. The reinsurance policy has a coverage limit of $75.0 million in the aggregate. The Company’s reinsurance receivables are recognized consistent with the related liabilities and include known claims and any incurred but not reported claims that are covered by current insurance policies in place. Legal Proceedings The Company is, from time to time, subject to various claims, lawsuits, governmental investigations and regulatory actions, including claims for damages for personal injuries, medical malpractice, overpayments, breach of contract, securities law violations, tort and employment related claims. In these actions, plaintiffs request a variety of damages, including, in some instances, punitive and other types of damages that may not be covered by insurance. In addition, healthcare companies are subject to numerous investigations by various governmental agencies. Certain of the Company’s individual facilities have received, and from time to time, other facilities may receive, subpoenas, civil investigative demands, audit requests and other inquiries from, and may be subject to investigation by, federal and state agencies. These investigations can result in repayment obligations, and violations of the False Claims Act can result in substantial monetary penalties and fines, the imposition of a corporate integrity agreement and exclusion from participation in governmental health programs. In addition, the federal False Claims Act permits private parties to bring qui tam, or “whistleblower,” suits against companies that submit false claims for payments to, or improperly retain overpayments from, the government. Some states have adopted similar state whistleblower and false claims provisions. During the third quarter of 2018, the U.S. Attorney’s Office for the Southern District of West Virginia served subpoenas on seven of our comprehensive treatment centers located in West Virginia requesting various documents from January 2012 to present. The U.S. Attorney’s Office has advised us that the civil aspect of the investigation is a False Claims Act investigation focused on claims submitted by the centers for certain lab services. The Company is cooperating with the government’s investigation but is not able to quantify any potential liability in connection with this investigation. |
Noncontrolling Interests
Noncontrolling Interests | 9 Months Ended |
Sep. 30, 2018 | |
Noncontrolling Interest [Abstract] | |
Noncontrolling Interests | 13. Noncontrolling Interests Noncontrolling interests in the consolidated financial statements represents the portion of equity held by noncontrolling partners in non-wholly owned subsidiaries the Company controls. At September 30, 2018, certain of these non-wholly owned subsidiaries operated four facilities. The Company owns between 60% and 80% of the equity interests in the entity that owns each facility, and noncontrolling partners own the remaining equity interests. The initial value of the noncontrolling interests is based on the fair value of contributions, and the Company consolidates the operations of each facility based on its equity ownership and its control of the entity. The noncontrolling interests are reflected as redeemable noncontrolling interests on the condensed consolidated balance sheets based on put rights that could require the Company to purchase the noncontrolling interests upon the occurrence of a change in control. The components of redeemable noncontrolling interests are as follows (in thousands): Balance at December 31, 2017 $ 22,417 Contribution of redeemable noncontrolling interests 6,125 Net income attributable to noncontrolling interests 156 Balance at September 30, 2018 $ 28,698 |
Other Current Assets
Other Current Assets | 9 Months Ended |
Sep. 30, 2018 | |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |
Other Current Assets | 14. Other Current Assets Other current assets consisted of the following (in thousands): September 30, 2018 December 31, 2017 Prepaid expenses $ 35,682 $ 27,320 Other receivables 30,203 30,455 Income taxes receivable 11,326 15,056 Workers’ compensation deposits – current portion 10,000 10,000 Inventory 5,021 4,787 Insurance receivable-current portion 2,049 17,588 Other 1,865 2,129 Other current assets $ 96,146 $ 107,335 |
Other Accrued Liabilities
Other Accrued Liabilities | 9 Months Ended |
Sep. 30, 2018 | |
Other Liabilities Disclosure [Abstract] | |
Other Accrued Liabilities | 15. Other Accrued Liabilities Other accrued liabilities consisted of the following (in thousands): September 30, 2018 December 31, 2017 Accrued expenses $ 42,876 $ 37,268 Unearned income 31,581 31,342 Accrued interest 12,835 36,370 Income taxes payable 11,312 1,012 Insurance liability – current portion 4,956 22,788 Accrued property taxes 5,570 3,945 Other 5,284 8,488 Other accrued liabilities $ 114,414 $ 141,213 |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Segment Information | 16. Segment Information The Company operates in one line of business, which is operating acute inpatient psychiatric facilities, specialty treatment facilities, residential treatment centers and facilities providing outpatient behavioral healthcare services. As management reviews the operating results of its facilities in the U.S. and its facilities in the U.K. separately to assess performance and make decisions, the Company’s operating segments include our U.S. Facilities and U.K. Facilities. At September 30, 2018, the U.S. Facilities segment included 215 behavioral healthcare facilities with approximately 9,200 beds in 40 states and Puerto Rico, and the U.K. Facilities segment included 371 behavioral healthcare facilities with approximately 8,800 beds in the U.K. The following tables set forth the financial information by operating segment, including a reconciliation of Segment EBITDA to income before income taxes (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Revenue: U.S. Facilities $ 488,626 $ 453,678 $ 1,432,501 $ 1,355,315 U.K. Facilities 272,290 263,036 836,394 756,489 Corporate and Other — — — — $ 760,916 $ 716,714 $ 2,268,895 $ 2,111,804 Segment EBITDA (1): U.S. Facilities $ 128,537 $ 118,744 $ 375,663 $ 359,250 U.K. Facilities 40,735 50,665 146,081 146,941 Corporate and Other (20,348 ) (17,153 ) (62,075 ) (55,346 ) $ 148,924 $ 152,256 $ 459,669 $ 450,845 Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Segment EBITDA (1) $ 148,924 $ 152,256 $ 459,669 $ 450,845 Plus (less): Equity-based compensation expense (5,225 ) (4,175 ) (19,273 ) (19,007 ) Transaction-related expenses (2,353 ) (5,665 ) (10,008 ) (18,836 ) Debt extinguishment costs — — (940 ) (810 ) Interest expense, net (46,651 ) (44,515 ) (137,706 ) (130,777 ) Depreciation and amortization (39,659 ) (36,442 ) (119,360 ) (105,256 ) Income before income taxes $ 55,036 $ 61,459 $ 172,382 $ 176,159 U.S. Facilities U.K. Facilities Corporate and Other Consolidated Goodwill: Balance at January 1, 2018 $ 2,042,592 $ 708,582 $ — $ 2,751,174 Increase from contribution of redeemable noncontrolling interests 2,244 — — 2,244 Foreign currency translation loss — (24,239 ) — (24,239 ) Prior year purchase price adjustments — 762 — 762 Balance at September 30, 2018 $ 2,044,836 $ 685,105 $ — $ 2,729,941 September 30, 2018 December 31, 2017 Assets (2): U.S. Facilities $ 3,753,345 $ 3,567,126 U.K. Facilities 2,568,318 2,647,150 Corporate and Other 207,921 210,226 $ 6,529,584 $ 6,424,502 (1) Segment EBITDA is defined as income before provision for income taxes, equity-based compensation expense, transaction-related expenses, debt extinguishment costs, interest expense and depreciation and amortization. The Company uses Segment EBITDA as an analytical indicator to measure the performance of the Company’s segments and to develop strategic objectives and operating plans for those segments. Segment EBITDA is commonly used as an analytical indicator within the health care industry, and also serves as a measure of leverage capacity and debt service ability. Segment EBITDA should not be considered as a measure of financial performance under GAAP, and the items excluded from Segment EBITDA are significant components in understanding and assessing financial performance. Because Segment EBITDA is not a measurement determined in accordance with GAAP and is thus susceptible to varying calculations, Segment EBITDA, as presented, may not be comparable to other similarly titled measures of other companies. (2) Assets include property and equipment for the U.S. Facilities of $1.3 billion, U.K. Facilities of $1.8 billion and corporate and other of $53.9 million at September 30, 2018. Assets include property and equipment for the U.S. Facilities of $1.2 billion, U.K. Facilities of $1.8 billion and corporate and other of $49.2 million at December 31, 2017. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | 17. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss are as follows (in thousands): Foreign Currency Translation Adjustments Change in Fair Value of Derivative Instruments Pension Plan Total Balance at December 31, 2017 $ (376,740 ) $ 7,167 $ (4,545 ) $ (374,118 ) Foreign currency translation (loss) gain (82,935 ) — 157 (82,778 ) Gain on derivative instruments, net of tax of $5.6 million — 16,434 — 16,434 Balance at September 30, 2018 $ (459,675 ) $ 23,601 $ (4,388 ) $ (440,462 ) |
Financial Information for the C
Financial Information for the Company and Its Subsidiaries | 9 Months Ended |
Sep. 30, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Financial Information for the Company and Its Subsidiaries | 18. Financial Information for the Company and Its Subsidiaries The Company conducts substantially all of its business through its subsidiaries. The 6.125% Senior Notes, 5.125% Senior Notes, 5.625% Senior Notes and 6.500% Senior Notes are jointly and severally guaranteed on an unsecured senior basis by all of the Company’s subsidiaries that guarantee the Company’s obligations under the Amended and Restated Senior Credit Facility. Presented below is condensed consolidating financial information for the Company and its subsidiaries at September 30, 2018 and December 31, 2017, and for the three and nine months ended September 30, 2018 and 2017. The information segregates the parent company (Acadia Healthcare Company, Inc.), the combined wholly-owned subsidiary guarantors, the combined non-guarantor subsidiaries and eliminations. Acadia Healthcare Company, Inc. Condensed Consolidating Balance Sheets September 30, 2018 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Current assets: Cash and cash equivalents $ — $ 32,298 $ 16,630 $ — $ 48,928 Accounts receivable, net — 270,535 75,124 — 345,659 Other current assets — 70,260 25,886 — 96,146 Total current assets — 373,093 117,640 — 490,733 Property and equipment, net — 1,197,218 1,929,424 — 3,126,642 Goodwill — 1,936,057 793,884 — 2,729,941 Intangible assets, net — 58,405 32,854 — 91,259 Deferred tax assets 2,296 — 3,630 (2,296 ) 3,630 Derivative instruments assets 33,084 — — — 33,084 Investment in subsidiaries 5,523,816 — — (5,523,816 ) — Other assets 326,442 42,688 8,833 (323,668 ) 54,295 Total assets $ 5,885,638 $ 3,607,461 $ 2,886,265 $ (5,849,780 ) $ 6,529,584 Current liabilities: Current portion of long-term debt $ 32,984 $ — $ 280 $ — $ 33,264 Accounts payable — 90,497 43,417 — 133,914 Accrued salaries and benefits — 80,156 28,995 — 109,151 Other accrued liabilities 12,150 34,908 67,356 — 114,414 Total current liabilities 45,134 205,561 140,048 — 390,743 Long-term debt 3,160,255 — 345,375 (323,668 ) 3,181,962 Deferred tax liabilities — 31,180 53,385 (2,296 ) 82,269 Other liabilities — 109,181 56,482 — 165,663 Total liabilities 3,205,389 345,922 595,290 (325,964 ) 3,820,637 Redeemable noncontrolling interests — — 28,698 — 28,698 Total equity 2,680,249 3,261,539 2,262,277 (5,523,816 ) 2,680,249 Total liabilities and equity $ 5,885,638 $ 3,607,461 $ 2,886,265 $ (5,849,780 ) $ 6,529,584 Acadia Healthcare Company, Inc. Condensed Consolidating Balance Sheets December 31, 2017 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Current assets: Cash and cash equivalents $ — $ 46,860 $ 20,430 $ — $ 67,290 Accounts receivable, net — 230,890 66,035 — 296,925 Other current assets — 85,746 21,589 — 107,335 Total current assets — 363,496 108,054 — 471,550 Property and equipment, net — 1,086,802 1,961,328 — 3,048,130 Goodwill — 1,936,057 815,117 — 2,751,174 Intangible assets, net — 57,628 29,720 — 87,348 Deferred tax assets 2,370 — 3,731 (2,370 ) 3,731 Derivative instruments assets 12,997 — — — 12,997 Investment in subsidiaries 5,429,386 — — (5,429,386 ) — Other assets 381,913 38,860 7,807 (379,008 ) 49,572 Total assets $ 5,826,666 $ 3,482,843 $ 2,925,757 $ (5,810,764 ) $ 6,424,502 Current liabilities: Current portion of long-term debt $ 34,550 $ — $ 280 $ — $ 34,830 Accounts payable — 70,767 31,532 — 102,299 Accrued salaries and benefits — 69,057 29,990 — 99,047 Other accrued liabilities 36,196 27,676 77,341 — 141,213 Total current liabilities 70,746 167,500 139,143 — 377,389 Long-term debt 3,183,049 — 401,017 (379,008 ) 3,205,058 Deferred tax liabilities — 27,975 54,728 (2,370 ) 80,333 Other liabilities — 103,112 63,322 — 166,434 Total liabilities 3,253,795 298,587 658,210 (381,378 ) 3,829,214 Redeemable noncontrolling interests — — 22,417 — 22,417 Total equity 2,572,871 3,184,256 2,245,130 (5,429,386 ) 2,572,871 Total liabilities and equity $ 5,826,666 $ 3,482,843 $ 2,925,757 $ (5,810,764 ) $ 6,424,502 Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Comprehensive Income (Loss) Three Months Ended September 30, 2018 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Revenue $ — $ 458,061 $ 302,855 $ — $ 760,916 Salaries, wages and benefits 5,225 245,599 167,093 — 417,917 Professional fees — 24,152 35,357 — 59,509 Supplies — 19,139 10,322 — 29,461 Rents and leases — 8,294 11,572 — 19,866 Other operating expenses — 57,495 32,969 — 90,464 Depreciation and amortization — 18,857 20,802 — 39,659 Interest expense, net 17,225 22,768 6,658 — 46,651 Transaction-related expenses — 702 1,651 — 2,353 Total expenses 22,450 397,006 286,424 — 705,880 (Loss) income before income taxes (22,450 ) 61,055 16,431 — 55,036 Equity in earnings of subsidiaries 62,854 — — (62,854 ) — (Benefit from) provision for income taxes (5,875 ) 11,666 2,966 — 8,757 Net income (loss) 46,279 49,389 13,465 (62,854 ) 46,279 Net gain attributable to noncontrolling interests — — (47 ) — (47 ) Net income (loss) attributable to Acadia Healthcare Company, Inc. $ 46,279 $ 49,389 $ 13,418 $ (62,854 ) $ 46,232 Other comprehensive (loss) income: Foreign currency translation loss — — (31,959 ) — (31,959 ) Gain on derivative instruments 7,380 — — — 7,380 Other comprehensive income (loss) 7,380 — (31,959 ) — (24,579 ) Comprehensive income (loss) attributable to Acadia Healthcare Company, Inc. $ 53,659 $ 49,389 $ (18,541 ) $ (62,854 ) $ 21,653 Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Comprehensive Income (Loss) Three Months Ended September 30, 2017 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Revenue before provision for doubtful accounts $ — $ 440,423 $ 288,289 $ — $ 728,712 Provision for doubtful accounts — (10,310 ) (1,688 ) — (11,998 ) Revenue — 430,113 286,601 — 716,714 Salaries, wages and benefits 4,175 225,001 156,386 — 385,562 Professional fees — 24,385 28,657 — 53,042 Supplies — 18,843 9,809 — 28,652 Rents and leases — 8,127 10,922 — 19,049 Other operating expenses — 55,077 27,251 — 82,328 Depreciation and amortization — 16,963 19,479 — 36,442 Interest expense, net 15,933 19,304 9,278 — 44,515 Transaction-related expenses — 2,211 3,454 — 5,665 Total expenses 20,108 369,911 265,236 — 655,255 (Loss) income before income taxes (20,108 ) 60,202 21,365 — 61,459 Equity in earnings of subsidiaries 55,925 — — (55,925 ) — (Benefit from) provision for income taxes (9,672 ) 21,202 4,440 — 15,970 Net income (loss) 45,489 39,000 16,925 (55,925 ) 45,489 Net loss attributable to noncontrolling interests — — 129 — 129 Net income (loss) attributable to Acadia Healthcare Company, Inc. $ 45,489 $ 39,000 $ 17,054 $ (55,925 ) $ 45,618 Other comprehensive (loss) income: Foreign currency translation gain — — 69,622 — 69,622 Loss on derivative instruments (9,402 ) — — — (9,402 ) Other comprehensive (loss) income (9,402 ) — 69,622 — 60,220 Comprehensive income (loss) attributable to Acadia Healthcare Company, Inc. $ 36,087 $ 39,000 $ 86,676 $ (55,925 ) $ 105,838 Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Comprehensive Income (Loss) Nine Months Ended September 30, 2018 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Revenue $ — $ 1,347,468 $ 921,427 $ — $ 2,268,895 Salaries, wages and benefits 19,273 724,650 502,263 — 1,246,186 Professional fees — 73,100 93,888 — 166,988 Supplies — 57,143 31,815 — 88,958 Rents and leases — 24,844 35,546 — 60,390 Other operating expenses — 168,923 97,054 — 265,977 Depreciation and amortization — 55,640 63,720 — 119,360 Interest expense, net 47,307 69,954 20,445 — 137,706 Debt extinguishment costs 940 — — — 940 Transaction-related expenses — 7,382 2,626 — 10,008 Total expenses 67,520 1,181,636 847,357 — 2,096,513 (Loss) income before income taxes (67,520 ) 165,832 74,070 — 172,382 Equity in earnings of subsidiaries 206,204 — — (206,204 ) — (Benefit from) provision for income taxes (17,359 ) 22,985 10,713 — 16,339 Net income (loss) 156,043 142,847 63,357 (206,204 ) 156,043 Net gain attributable to noncontrolling interests — — (156 ) — (156 ) Net income (loss) attributable to Acadia Healthcare Company, Inc. $ 156,043 $ 142,847 $ 63,201 $ (206,204 ) $ 155,887 Other comprehensive (loss) income: Foreign currency translation loss — — (82,778 ) — (82,778 ) Gain on derivative instruments 16,434 — — — 16,434 Other comprehensive income (loss) 16,434 — (82,778 ) — (66,344 ) Comprehensive income (loss) attributable to Acadia Healthcare Company, Inc. $ 172,477 $ 142,847 $ (19,577 ) $ (206,204 ) $ 89,543 Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Comprehensive Income (Loss) Nine Months Ended September 30, 2017 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Revenue before provision for doubtful accounts $ — $ 1,311,937 $ 831,759 $ — $ 2,143,696 Provision for doubtful accounts — (28,007 ) (3,885 ) — (31,892 ) Revenue — 1,283,930 827,874 — 2,111,804 Salaries, wages and benefits 19,007 675,206 451,365 — 1,145,578 Professional fees — 69,796 72,976 — 142,772 Supplies — 56,502 28,498 — 85,000 Rents and leases — 25,139 32,316 — 57,455 Other operating expenses — 164,596 84,565 — 249,161 Depreciation and amortization — 48,918 56,338 — 105,256 Interest expense, net 46,392 57,054 27,331 — 130,777 Debt extinguishment costs 810 — — — 810 Transaction-related expenses — 6,219 12,617 — 18,836 Total expenses 66,209 1,103,430 766,006 — 1,935,645 (Loss) income before income taxes (66,209 ) 180,500 61,868 — 176,159 Equity in earnings of subsidiaries 163,931 — — (163,931 ) — (Benefit from) provision for income taxes (32,178 ) 66,124 12,313 — 46,259 Net income (loss) 129,900 114,376 49,555 (163,931 ) 129,900 Net loss attributable to noncontrolling interests — — 306 — 306 Net income (loss) attributable to Acadia Healthcare Company, Inc. $ 129,900 $ 114,376 $ 49,861 $ (163,931 ) $ 130,206 Other comprehensive (loss) income: Foreign currency translation gain — — 188,744 — 188,744 Loss on derivative instruments (24,354 ) — — — (24,354 ) Other comprehensive (loss) income (24,354 ) — 188,744 — 164,390 Comprehensive income (loss) attributable to Acadia Healthcare Company, Inc. $ 105,546 $ 114,376 $ 238,605 $ (163,931 ) $ 294,596 Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2018 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Operating activities: Net income (loss) $ 156,043 $ 142,847 $ 63,357 $ (206,204 ) $ 156,043 Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: Equity in earnings of subsidiaries (206,204 ) — — 206,204 — Depreciation and amortization — 55,640 63,720 — 119,360 Amortization of debt issuance costs 8,065 — (302 ) — 7,763 Equity-based compensation expense 19,273 — — — 19,273 Deferred income taxes 74 (2,398 ) 586 — (1,738 ) Debt extinguishment costs 940 — — — 940 Other 1,948 1,219 (142 ) — 3,025 Change in operating assets and liabilities: Accounts receivable, net — (39,644 ) (3,608 ) — (43,252 ) Other current assets — 7,898 (4,877 ) — 3,021 Other assets 4,596 3,763 105 (4,596 ) 3,868 Accounts payable and other accrued liabilities — 7,835 1,395 — 9,230 Accrued salaries and benefits — 11,100 (51 ) — 11,049 Other liabilities — 4,548 (4,399 ) — 149 Net cash (used in) provided by continuing operating activities (15,265 ) 192,808 115,784 (4,596 ) 288,731 Net cash used in discontinued operating activities — (2,548 ) — — (2,548 ) Net cash (used in) provided by operating activities (15,265 ) 190,260 115,784 (4,596 ) 286,183 Investing activities: Cash paid for capital expenditures — (149,402 ) (100,587 ) — (249,989 ) Cash paid for real estate acquisitions — (9,391 ) — — (9,391 ) Other — (5,718 ) 2,604 — (3,114 ) Net cash used in investing activities — (164,511 ) (97,983 ) — (262,494 ) Financing activities: Principal payments on long-term debt (31,492 ) (169 ) (4,427 ) 4,596 (31,492 ) Common stock withheld for minimum statutory taxes, net (2,272 ) — — — (2,272 ) Other (1,742 ) (2,885 ) (2,346 ) — (6,973 ) Cash provided by (used in) intercompany activity 50,771 (37,257 ) (13,514 ) — — Net provided by (used in) in financing activities 15,265 (40,311 ) (20,287 ) 4,596 (40,737 ) Effect of exchange rate changes on cash — — (1,314 ) — (1,314 ) Net decrease in cash and cash equivalents — (14,562 ) (3,800 ) — (18,362 ) Cash and cash equivalents at beginning of the period — 46,860 20,430 — 67,290 Cash and cash equivalents at end of the period $ — $ 32,298 $ 16,630 $ — $ 48,928 Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2017 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Operating activities: Net income (loss) $ 129,900 $ 114,376 $ 49,555 $ (163,931 ) $ 129,900 Adjustments to reconcile net income (loss) to net cash provided by (used in) continuing operating activities: Equity in earnings of subsidiaries (163,931 ) — — 163,931 — Depreciation and amortization — 48,918 56,338 — 105,256 Amortization of debt issuance costs 7,652 — (312 ) — 7,340 Equity-based compensation expense 19,007 — — — 19,007 Deferred income taxes 156 22,401 6,859 — 29,416 Debt extinguishment costs 810 — — — 810 Other 4,216 1,727 4,729 — 10,672 Change in operating assets and liabilities: Accounts receivable, net — (21,183 ) (7,498 ) — (28,681 ) Other current assets — 1,126 24,973 — 26,099 Other assets 3,479 (705 ) 139 (3,479 ) (566 ) Accounts payable and other accrued liabilities — (22,372 ) (4,009 ) — (26,381 ) Accrued salaries and benefits — (4,759 ) (3,178 ) — (7,937 ) Other liabilities — 4,084 3,593 — 7,677 Net cash provided by (used in) continuing operating activities 1,289 143,613 131,189 (3,479 ) 272,612 Net cash used in discontinued operating activities — (1,261 ) — — (1,261 ) Net cash provided by (used in) operating activities 1,289 142,352 131,189 (3,479 ) 271,351 Investing activities: Cash paid for capital expenditures — (114,130 ) (79,687 ) — (193,817 ) Cash paid for real estate acquisitions — (33,297 ) — — (33,297 ) Other — (7,984 ) 1,922 — (6,062 ) Net cash used in investing activities — (155,411 ) (77,765 ) — (233,176 ) Financing activities: Principal payments on long-term debt (25,913 ) — (3,479 ) 3,479 (25,913 ) Common stock withheld for minimum statutory taxes, net (3,278 ) — — — (3,278 ) Other — 1,649 — — 1,649 Cash provided by (used in) intercompany activity 27,902 39,443 (67,345 ) — — Net (used in) provided by in financing activities (1,289 ) 41,092 (70,824 ) 3,479 (27,542 ) Effect of exchange rate changes on cash — — 7,965 — 7,965 Net increase (decrease) in cash and cash equivalents — 28,033 (9,435 ) — 18,598 Cash and cash equivalents at beginning of the period — 15,681 41,382 — 57,063 Cash and cash equivalents at end of the period $ — $ 43,714 $ 31,947 $ — $ 75,661 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | 19. Subsequent Events On October 22, 2018, the Company sent a notice of conditional redemption to the trustee of the 9.0% and 9.5% Revenue Bonds indicating that the Company is conditionally exercising its option to redeem in whole the 9.0% and 9.5% Revenue Bonds on December 1, 2018 (the “Redemption Date”) at a redemption price equal to the sum of 104% of the principal amount of the 9.0% and 9.5% Revenue Bonds plus accrued and unpaid interest (the “Redemption Price”). The redemption is expressly conditional on the Company depositing sufficient moneys with the trustee on or prior to the Redemption Date, which amounts, together with funds already on deposit with the trustee, are sufficient to satisfy the Redemption Price. The Company expects to borrow the funds needed for the redemption under its revolving line of credit pursuant to the Amended and Restated Credit Agreement. On October 23, 2018 the Company signed a definitive agreement for the acquisition of Mission Treatment (“Mission Treatment”) for cash consideration of approximately $22.5 million and a working capital settlement. Mission Treatment operates nine comprehensive treatment centers in California, Nevada, Arizona and Oklahoma. On October 31, 2018 the Company signed a definitive agreement for the acquisition of Whittier Pavilion (“Whittier”), an inpatient psychiatric facility with 71 beds located in Haverhill, Massachusetts, for cash consideration of approximately $17.9 million. Whittier is part of the Whitter Health Network, a family owned and operated healthcare system that has provided hospital and community services since 1982. |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Summary of the Activity in Unearned Revenue in the U.K. Facilities | A summary of the activity in unearned revenue in the U.K. Facilities is as follows (in thousands): Balance at December 31, 2017 $ 30,812 Payments received 126,506 Revenue recognized (124,894 ) Foreign currency translation loss (1,687 ) Balance at September 30, 2018 $ 30,737 |
U.S. Facilities [Member] | |
Schedule of Revenue Attributed to Each Category | The table below presents total U.S. revenue attributed to each category (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Acute inpatient psychiatric facilities $ 208,885 $ 187,497 $ 608,311 $ 566,173 Specialty treatment facilities 198,107 183,290 575,536 543,079 Residential treatment centers 72,351 72,677 218,041 213,300 Outpatient community-based services 9,283 10,214 30,613 32,763 Revenue $ 488,626 $ 453,678 $ 1,432,501 $ 1,355,315 |
Schedule of Revenue Generated by Each Payor Type | The following table presents revenue generated by each payor type (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Commercial $ 146,439 $ 142,870 $ 431,337 $ 431,818 Medicare 73,528 73,593 210,307 212,992 Medicaid 229,390 199,592 668,236 587,705 Self-Pay 33,559 43,685 103,845 130,928 Other 5,710 5,936 18,776 23,758 Revenue before provision for doubtful accounts 488,626 465,676 1,432,501 1,387,201 Provision for doubtful accounts — (11,998 ) — (31,886 ) Revenue $ 488,626 $ 453,678 $ 1,432,501 $ 1,355,315 |
U.K. Facilities [Member] | |
Schedule of Revenue Attributed to Each Category | The table below presents total U.K. revenue attributed to each category (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Healthcare facilities $ 150,871 $ 146,264 $ 464,731 $ 419,549 Education and Children’s Services 46,966 42,441 145,609 124,337 Adult Care facilities 74,453 74,331 226,054 212,603 Revenue $ 272,290 $ 263,036 $ 836,394 $ 756,489 |
Schedule of Revenue Generated by Each Payor Type | The following table presents revenue generated by each payor type (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 U.K. public funded sources $ 245,919 $ 236,778 $ 756,094 $ 678,623 Self-Pay 26,159 24,572 78,499 70,662 Other 212 1,686 1,801 7,210 Revenue before provision for doubtful accounts 272,290 263,036 836,394 756,495 Provision for doubtful accounts — — — (6 ) Revenue $ 272,290 $ 263,036 $ 836,394 $ 756,489 |
Accounting Standards Update 2014-09 [Member] | |
Summary of Impact of Adoption of Accounting Standards | The impact of adopting ASU 2014-09 on the condensed consolidated statements of income for the three and nine months ended September 30, 2018 was as follows (in thousands): Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 As Reported Prior to Adopting ASU 2014-09 As Reported Prior to Adopting ASU 2014-09 Revenue before provision for doubtful accounts $ 760,916 $ 772,380 $ 2,268,895 $ 2,298,084 Provision for doubtful accounts — (11,464 ) — (29,189 ) Revenue $ 760,916 $ 760,916 $ 2,268,895 $ 2,268,895 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2018 and 2017 (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Numerator: Net income attributable to Acadia Healthcare Company, Inc. $ 46,232 $ 45,618 $ 155,887 $ 130,206 Denominator: Weighted average shares outstanding for basic earnings per share 87,344 87,017 87,233 86,912 Effect of dilutive instruments 193 155 153 126 Shares used in computing diluted earnings per common share 87,537 87,172 87,386 87,038 Earnings per share attributable to Acadia Healthcare Company, Inc. stockholders: Basic $ 0.53 $ 0.52 $ 1.79 $ 1.50 Diluted $ 0.53 $ 0.52 $ 1.78 $ 1.50 |
Other Intangible Assets (Tables
Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Other Identifiable Intangible Assets and Related Accumulated Amortization | Other identifiable intangible assets and related accumulated amortization consisted of the following at September 30, 2018 and December 31, 2017 (in thousands): Gross Carrying Amount Accumulated Amortization September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Intangible assets subject to amortization: Contract intangible assets $ 2,100 $ 2,100 $ (2,100 ) $ (2,100 ) Non-compete agreements 1,147 1,147 (1,147 ) (1,147 ) 3,247 3,247 (3,247 ) (3,247 ) Intangible assets not subject to amortization: Licenses and accreditations 12,766 12,266 — — Trade names 61,675 60,586 — — Certificates of need 16,818 14,496 — — 91,259 87,348 — — Total $ 94,506 $ 90,595 $ (3,247 ) $ (3,247 ) |
Property and Equipment (Tables)
Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Property Plant And Equipment [Abstract] | |
Summary of Property and Equipment | Property and equipment consists of the following at September 30, 2018 and December 31, 2017 (in thousands): September 30, 2018 December 31, 2017 Land $ 444,579 $ 450,342 Building and improvements 2,443,980 2,370,918 Equipment 434,205 400,596 Construction in progress 249,001 173,693 3,571,765 3,395,549 Less accumulated depreciation (445,123 ) (347,419 ) Property and equipment, net $ 3,126,642 $ 3,048,130 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Components of Long-Term Debt | Long-term debt consisted of the following (in thousands): September 30, 2018 December 31, 2017 Amended and Restated Senior Credit Facility: Senior Secured Term A Loans $ 370,500 $ 380,000 Senior Secured Term B Loans 1,376,408 1,398,400 Senior Secured Revolving Line of Credit — — 6.125% Senior Notes due 2021 150,000 150,000 5.125% Senior Notes due 2022 300,000 300,000 5.625% Senior Notes due 2023 650,000 650,000 6.500% Senior Notes due 2024 390,000 390,000 9.0% and 9.5% Revenue Bonds 21,920 21,920 Less: unamortized debt issuance costs, discount and premium (43,602 ) (50,432 ) 3,215,226 3,239,888 Less: current portion (33,264 ) (34,830 ) Long-term debt $ 3,181,962 $ 3,205,058 |
Equity-Based Compensation (Tabl
Equity-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock Option Activity | Stock option activity during 2017 and 2018 was as follows (aggregate intrinsic value in thousands): Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Options outstanding at January 1, 2017 1,000,946 $ 49.42 7.80 $ 8,166 Options granted 259,300 42.25 9.30 205 Options exercised (87,367 ) 25.92 N/A 1,636 Options cancelled (198,313 ) 54.71 N/A N/A Options outstanding at December 31, 2017 974,566 47.89 7.46 3,802 Options granted 353,800 37.36 9.42 475 Options exercised (9,889 ) 24.67 N/A 165 Options cancelled (102,787 ) 51.23 N/A N/A Options outstanding at September 30, 2018 1,215,690 $ 44.69 7.43 $ 3,536 Options exercisable at December 31, 2017 405,634 $ 41.20 6.05 $ 3,549 Options exercisable at September 30, 2018 543,139 $ 44.65 5.87 $ 2,835 |
Schedule of Stock Options Valuation Assumptions | The following table summarizes the grant-date fair value of options and the assumptions used to develop the fair value estimates for options granted during the nine months ended September 30, 2018 and year ended December 31, 2017: September 30, 2018 December 31, 2017 Weighted average grant-date fair value of options $ 13.61 $ 14.39 Risk-free interest rate 2.2 % 2.0 % Expected volatility 37 % 33 % Expected life (in years) 5.0 5.5 |
Restricted Stock Activity | Restricted stock activity during 2017 and 2018 was as follows: Number of Shares Weighted Average Grant-Date Fair Value Unvested at January 1, 2017 844,419 $ 55.76 Granted 404,224 42.38 Cancelled (145,981 ) 55.03 Vested (292,794 ) 53.07 Unvested at December 31, 2017 809,868 $ 50.19 Granted 441,837 36.51 Cancelled (71,067 ) 48.36 Vested (283,077 ) 53.24 Unvested at September 30, 2018 897,561 $ 42.64 |
Restricted Stock Unit Activity | Restricted stock unit activity during 2017 and 2018 was as follows: Number of Units Weighted Average Grant-Date Fair Value Unvested at January 1, 2017 273,599 $ 59.68 Granted 219,840 43.23 Cancelled — — Vested (132,530 ) 58.67 Unvested at December 31, 2017 360,909 $ 50.04 Granted 285,358 42.26 Cancelled (87,173 ) 55.44 Vested (72,983 ) 49.64 Unvested at September 30, 2018 486,111 $ 44.52 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Carrying Amounts and Fair Values of Company's Amended and Restated Senior Credit Facilities and Contingent Consideration Liabilities | The carrying amounts and fair values of the Company’s Amended and Restated Senior Credit Facility, 6.125% Senior Notes, 5.125% Senior Notes, 5.625% Senior Notes, 6.500% Senior Notes, 9.0% and 9.5% Revenue Bonds and derivative instruments at September 30, 2018 and December 31, 2017 were as follows (in thousands): Carrying Amount Fair Value September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Amended and Restated Senior Credit Facility $ 1,722,010 $ 1,749,185 $ 1,722,010 $ 1,749,185 6.125% Senior Notes due 2021 $ 148,514 $ 148,098 $ 149,257 $ 150,134 5.125% Senior Notes due 2022 $ 296,750 $ 296,174 $ 296,008 $ 296,914 5.625% Senior Notes due 2023 $ 642,932 $ 641,891 $ 647,561 $ 651,519 6.500% Senior Notes due 2024 $ 383,033 $ 382,251 $ 395,960 $ 397,541 9.0% and 9.5% Revenue Bonds $ 21,987 $ 22,289 $ 21,987 $ 22,289 Derivative instrument assets $ 33,084 $ 12,997 $ 33,084 $ 12,997 |
Noncontrolling Interests (Table
Noncontrolling Interests (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Noncontrolling Interest [Abstract] | |
Summary of Redeemable Noncontrolling Interests | The components of redeemable noncontrolling interests are as follows (in thousands): Balance at December 31, 2017 $ 22,417 Contribution of redeemable noncontrolling interests 6,125 Net income attributable to noncontrolling interests 156 Balance at September 30, 2018 $ 28,698 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |
Other Current Assets | Other current assets consisted of the following (in thousands): September 30, 2018 December 31, 2017 Prepaid expenses $ 35,682 $ 27,320 Other receivables 30,203 30,455 Income taxes receivable 11,326 15,056 Workers’ compensation deposits – current portion 10,000 10,000 Inventory 5,021 4,787 Insurance receivable-current portion 2,049 17,588 Other 1,865 2,129 Other current assets $ 96,146 $ 107,335 |
Other Accrued Liabilities (Tabl
Other Accrued Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Other Liabilities Disclosure [Abstract] | |
Summary of Other Accrued Liabilities | Other accrued liabilities consisted of the following (in thousands): September 30, 2018 December 31, 2017 Accrued expenses $ 42,876 $ 37,268 Unearned income 31,581 31,342 Accrued interest 12,835 36,370 Income taxes payable 11,312 1,012 Insurance liability – current portion 4,956 22,788 Accrued property taxes 5,570 3,945 Other 5,284 8,488 Other accrued liabilities $ 114,414 $ 141,213 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Summary of Reconciliation of Segment EBITDA to Income from Continuing Operations | The following tables set forth the financial information by operating segment, including a reconciliation of Segment EBITDA to income before income taxes (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Revenue: U.S. Facilities $ 488,626 $ 453,678 $ 1,432,501 $ 1,355,315 U.K. Facilities 272,290 263,036 836,394 756,489 Corporate and Other — — — — $ 760,916 $ 716,714 $ 2,268,895 $ 2,111,804 Segment EBITDA (1): U.S. Facilities $ 128,537 $ 118,744 $ 375,663 $ 359,250 U.K. Facilities 40,735 50,665 146,081 146,941 Corporate and Other (20,348 ) (17,153 ) (62,075 ) (55,346 ) $ 148,924 $ 152,256 $ 459,669 $ 450,845 Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Segment EBITDA (1) $ 148,924 $ 152,256 $ 459,669 $ 450,845 Plus (less): Equity-based compensation expense (5,225 ) (4,175 ) (19,273 ) (19,007 ) Transaction-related expenses (2,353 ) (5,665 ) (10,008 ) (18,836 ) Debt extinguishment costs — — (940 ) (810 ) Interest expense, net (46,651 ) (44,515 ) (137,706 ) (130,777 ) Depreciation and amortization (39,659 ) (36,442 ) (119,360 ) (105,256 ) Income before income taxes $ 55,036 $ 61,459 $ 172,382 $ 176,159 |
Summary of Assets by Operating Segment | September 30, 2018 December 31, 2017 Assets (2): U.S. Facilities $ 3,753,345 $ 3,567,126 U.K. Facilities 2,568,318 2,647,150 Corporate and Other 207,921 210,226 $ 6,529,584 $ 6,424,502 (1) Segment EBITDA is defined as income before provision for income taxes, equity-based compensation expense, transaction-related expenses, debt extinguishment costs, interest expense and depreciation and amortization. The Company uses Segment EBITDA as an analytical indicator to measure the performance of the Company’s segments and to develop strategic objectives and operating plans for those segments. Segment EBITDA is commonly used as an analytical indicator within the health care industry, and also serves as a measure of leverage capacity and debt service ability. Segment EBITDA should not be considered as a measure of financial performance under GAAP, and the items excluded from Segment EBITDA are significant components in understanding and assessing financial performance. Because Segment EBITDA is not a measurement determined in accordance with GAAP and is thus susceptible to varying calculations, Segment EBITDA, as presented, may not be comparable to other similarly titled measures of other companies. (2) Assets include property and equipment for the U.S. Facilities of $1.3 billion, U.K. Facilities of $1.8 billion and corporate and other of $53.9 million at September 30, 2018. Assets include property and equipment for the U.S. Facilities of $1.2 billion, U.K. Facilities of $1.8 billion and corporate and other of $49.2 million at December 31, 2017. |
Goodwill [Member] | |
Summary of Assets by Operating Segment | U.S. Facilities U.K. Facilities Corporate and Other Consolidated Goodwill: Balance at January 1, 2018 $ 2,042,592 $ 708,582 $ — $ 2,751,174 Increase from contribution of redeemable noncontrolling interests 2,244 — — 2,244 Foreign currency translation loss — (24,239 ) — (24,239 ) Prior year purchase price adjustments — 762 — 762 Balance at September 30, 2018 $ 2,044,836 $ 685,105 $ — $ 2,729,941 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Components Of Accumulated Other Comprehensive Loss | The components of accumulated other comprehensive loss are as follows (in thousands): Foreign Currency Translation Adjustments Change in Fair Value of Derivative Instruments Pension Plan Total Balance at December 31, 2017 $ (376,740 ) $ 7,167 $ (4,545 ) $ (374,118 ) Foreign currency translation (loss) gain (82,935 ) — 157 (82,778 ) Gain on derivative instruments, net of tax of $5.6 million — 16,434 — 16,434 Balance at September 30, 2018 $ (459,675 ) $ 23,601 $ (4,388 ) $ (440,462 ) |
Financial Information for the_2
Financial Information for the Company and Its Subsidiaries (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Summary of Condensed Consolidating Balance Sheets | Acadia Healthcare Company, Inc. Condensed Consolidating Balance Sheets September 30, 2018 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Current assets: Cash and cash equivalents $ — $ 32,298 $ 16,630 $ — $ 48,928 Accounts receivable, net — 270,535 75,124 — 345,659 Other current assets — 70,260 25,886 — 96,146 Total current assets — 373,093 117,640 — 490,733 Property and equipment, net — 1,197,218 1,929,424 — 3,126,642 Goodwill — 1,936,057 793,884 — 2,729,941 Intangible assets, net — 58,405 32,854 — 91,259 Deferred tax assets 2,296 — 3,630 (2,296 ) 3,630 Derivative instruments assets 33,084 — — — 33,084 Investment in subsidiaries 5,523,816 — — (5,523,816 ) — Other assets 326,442 42,688 8,833 (323,668 ) 54,295 Total assets $ 5,885,638 $ 3,607,461 $ 2,886,265 $ (5,849,780 ) $ 6,529,584 Current liabilities: Current portion of long-term debt $ 32,984 $ — $ 280 $ — $ 33,264 Accounts payable — 90,497 43,417 — 133,914 Accrued salaries and benefits — 80,156 28,995 — 109,151 Other accrued liabilities 12,150 34,908 67,356 — 114,414 Total current liabilities 45,134 205,561 140,048 — 390,743 Long-term debt 3,160,255 — 345,375 (323,668 ) 3,181,962 Deferred tax liabilities — 31,180 53,385 (2,296 ) 82,269 Other liabilities — 109,181 56,482 — 165,663 Total liabilities 3,205,389 345,922 595,290 (325,964 ) 3,820,637 Redeemable noncontrolling interests — — 28,698 — 28,698 Total equity 2,680,249 3,261,539 2,262,277 (5,523,816 ) 2,680,249 Total liabilities and equity $ 5,885,638 $ 3,607,461 $ 2,886,265 $ (5,849,780 ) $ 6,529,584 Acadia Healthcare Company, Inc. Condensed Consolidating Balance Sheets December 31, 2017 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Current assets: Cash and cash equivalents $ — $ 46,860 $ 20,430 $ — $ 67,290 Accounts receivable, net — 230,890 66,035 — 296,925 Other current assets — 85,746 21,589 — 107,335 Total current assets — 363,496 108,054 — 471,550 Property and equipment, net — 1,086,802 1,961,328 — 3,048,130 Goodwill — 1,936,057 815,117 — 2,751,174 Intangible assets, net — 57,628 29,720 — 87,348 Deferred tax assets 2,370 — 3,731 (2,370 ) 3,731 Derivative instruments assets 12,997 — — — 12,997 Investment in subsidiaries 5,429,386 — — (5,429,386 ) — Other assets 381,913 38,860 7,807 (379,008 ) 49,572 Total assets $ 5,826,666 $ 3,482,843 $ 2,925,757 $ (5,810,764 ) $ 6,424,502 Current liabilities: Current portion of long-term debt $ 34,550 $ — $ 280 $ — $ 34,830 Accounts payable — 70,767 31,532 — 102,299 Accrued salaries and benefits — 69,057 29,990 — 99,047 Other accrued liabilities 36,196 27,676 77,341 — 141,213 Total current liabilities 70,746 167,500 139,143 — 377,389 Long-term debt 3,183,049 — 401,017 (379,008 ) 3,205,058 Deferred tax liabilities — 27,975 54,728 (2,370 ) 80,333 Other liabilities — 103,112 63,322 — 166,434 Total liabilities 3,253,795 298,587 658,210 (381,378 ) 3,829,214 Redeemable noncontrolling interests — — 22,417 — 22,417 Total equity 2,572,871 3,184,256 2,245,130 (5,429,386 ) 2,572,871 Total liabilities and equity $ 5,826,666 $ 3,482,843 $ 2,925,757 $ (5,810,764 ) $ 6,424,502 |
Summary of Condensed Consolidating Statement of Comprehensive Income (Loss) | Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Comprehensive Income (Loss) Three Months Ended September 30, 2018 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Revenue $ — $ 458,061 $ 302,855 $ — $ 760,916 Salaries, wages and benefits 5,225 245,599 167,093 — 417,917 Professional fees — 24,152 35,357 — 59,509 Supplies — 19,139 10,322 — 29,461 Rents and leases — 8,294 11,572 — 19,866 Other operating expenses — 57,495 32,969 — 90,464 Depreciation and amortization — 18,857 20,802 — 39,659 Interest expense, net 17,225 22,768 6,658 — 46,651 Transaction-related expenses — 702 1,651 — 2,353 Total expenses 22,450 397,006 286,424 — 705,880 (Loss) income before income taxes (22,450 ) 61,055 16,431 — 55,036 Equity in earnings of subsidiaries 62,854 — — (62,854 ) — (Benefit from) provision for income taxes (5,875 ) 11,666 2,966 — 8,757 Net income (loss) 46,279 49,389 13,465 (62,854 ) 46,279 Net gain attributable to noncontrolling interests — — (47 ) — (47 ) Net income (loss) attributable to Acadia Healthcare Company, Inc. $ 46,279 $ 49,389 $ 13,418 $ (62,854 ) $ 46,232 Other comprehensive (loss) income: Foreign currency translation loss — — (31,959 ) — (31,959 ) Gain on derivative instruments 7,380 — — — 7,380 Other comprehensive income (loss) 7,380 — (31,959 ) — (24,579 ) Comprehensive income (loss) attributable to Acadia Healthcare Company, Inc. $ 53,659 $ 49,389 $ (18,541 ) $ (62,854 ) $ 21,653 Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Comprehensive Income (Loss) Three Months Ended September 30, 2017 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Revenue before provision for doubtful accounts $ — $ 440,423 $ 288,289 $ — $ 728,712 Provision for doubtful accounts — (10,310 ) (1,688 ) — (11,998 ) Revenue — 430,113 286,601 — 716,714 Salaries, wages and benefits 4,175 225,001 156,386 — 385,562 Professional fees — 24,385 28,657 — 53,042 Supplies — 18,843 9,809 — 28,652 Rents and leases — 8,127 10,922 — 19,049 Other operating expenses — 55,077 27,251 — 82,328 Depreciation and amortization — 16,963 19,479 — 36,442 Interest expense, net 15,933 19,304 9,278 — 44,515 Transaction-related expenses — 2,211 3,454 — 5,665 Total expenses 20,108 369,911 265,236 — 655,255 (Loss) income before income taxes (20,108 ) 60,202 21,365 — 61,459 Equity in earnings of subsidiaries 55,925 — — (55,925 ) — (Benefit from) provision for income taxes (9,672 ) 21,202 4,440 — 15,970 Net income (loss) 45,489 39,000 16,925 (55,925 ) 45,489 Net loss attributable to noncontrolling interests — — 129 — 129 Net income (loss) attributable to Acadia Healthcare Company, Inc. $ 45,489 $ 39,000 $ 17,054 $ (55,925 ) $ 45,618 Other comprehensive (loss) income: Foreign currency translation gain — — 69,622 — 69,622 Loss on derivative instruments (9,402 ) — — — (9,402 ) Other comprehensive (loss) income (9,402 ) — 69,622 — 60,220 Comprehensive income (loss) attributable to Acadia Healthcare Company, Inc. $ 36,087 $ 39,000 $ 86,676 $ (55,925 ) $ 105,838 Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Comprehensive Income (Loss) Nine Months Ended September 30, 2018 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Revenue $ — $ 1,347,468 $ 921,427 $ — $ 2,268,895 Salaries, wages and benefits 19,273 724,650 502,263 — 1,246,186 Professional fees — 73,100 93,888 — 166,988 Supplies — 57,143 31,815 — 88,958 Rents and leases — 24,844 35,546 — 60,390 Other operating expenses — 168,923 97,054 — 265,977 Depreciation and amortization — 55,640 63,720 — 119,360 Interest expense, net 47,307 69,954 20,445 — 137,706 Debt extinguishment costs 940 — — — 940 Transaction-related expenses — 7,382 2,626 — 10,008 Total expenses 67,520 1,181,636 847,357 — 2,096,513 (Loss) income before income taxes (67,520 ) 165,832 74,070 — 172,382 Equity in earnings of subsidiaries 206,204 — — (206,204 ) — (Benefit from) provision for income taxes (17,359 ) 22,985 10,713 — 16,339 Net income (loss) 156,043 142,847 63,357 (206,204 ) 156,043 Net gain attributable to noncontrolling interests — — (156 ) — (156 ) Net income (loss) attributable to Acadia Healthcare Company, Inc. $ 156,043 $ 142,847 $ 63,201 $ (206,204 ) $ 155,887 Other comprehensive (loss) income: Foreign currency translation loss — — (82,778 ) — (82,778 ) Gain on derivative instruments 16,434 — — — 16,434 Other comprehensive income (loss) 16,434 — (82,778 ) — (66,344 ) Comprehensive income (loss) attributable to Acadia Healthcare Company, Inc. $ 172,477 $ 142,847 $ (19,577 ) $ (206,204 ) $ 89,543 Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Comprehensive Income (Loss) Nine Months Ended September 30, 2017 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Revenue before provision for doubtful accounts $ — $ 1,311,937 $ 831,759 $ — $ 2,143,696 Provision for doubtful accounts — (28,007 ) (3,885 ) — (31,892 ) Revenue — 1,283,930 827,874 — 2,111,804 Salaries, wages and benefits 19,007 675,206 451,365 — 1,145,578 Professional fees — 69,796 72,976 — 142,772 Supplies — 56,502 28,498 — 85,000 Rents and leases — 25,139 32,316 — 57,455 Other operating expenses — 164,596 84,565 — 249,161 Depreciation and amortization — 48,918 56,338 — 105,256 Interest expense, net 46,392 57,054 27,331 — 130,777 Debt extinguishment costs 810 — — — 810 Transaction-related expenses — 6,219 12,617 — 18,836 Total expenses 66,209 1,103,430 766,006 — 1,935,645 (Loss) income before income taxes (66,209 ) 180,500 61,868 — 176,159 Equity in earnings of subsidiaries 163,931 — — (163,931 ) — (Benefit from) provision for income taxes (32,178 ) 66,124 12,313 — 46,259 Net income (loss) 129,900 114,376 49,555 (163,931 ) 129,900 Net loss attributable to noncontrolling interests — — 306 — 306 Net income (loss) attributable to Acadia Healthcare Company, Inc. $ 129,900 $ 114,376 $ 49,861 $ (163,931 ) $ 130,206 Other comprehensive (loss) income: Foreign currency translation gain — — 188,744 — 188,744 Loss on derivative instruments (24,354 ) — — — (24,354 ) Other comprehensive (loss) income (24,354 ) — 188,744 — 164,390 Comprehensive income (loss) attributable to Acadia Healthcare Company, Inc. $ 105,546 $ 114,376 $ 238,605 $ (163,931 ) $ 294,596 |
Summary of Condensed Consolidating Statement of Cash Flows | Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2018 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Operating activities: Net income (loss) $ 156,043 $ 142,847 $ 63,357 $ (206,204 ) $ 156,043 Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: Equity in earnings of subsidiaries (206,204 ) — — 206,204 — Depreciation and amortization — 55,640 63,720 — 119,360 Amortization of debt issuance costs 8,065 — (302 ) — 7,763 Equity-based compensation expense 19,273 — — — 19,273 Deferred income taxes 74 (2,398 ) 586 — (1,738 ) Debt extinguishment costs 940 — — — 940 Other 1,948 1,219 (142 ) — 3,025 Change in operating assets and liabilities: Accounts receivable, net — (39,644 ) (3,608 ) — (43,252 ) Other current assets — 7,898 (4,877 ) — 3,021 Other assets 4,596 3,763 105 (4,596 ) 3,868 Accounts payable and other accrued liabilities — 7,835 1,395 — 9,230 Accrued salaries and benefits — 11,100 (51 ) — 11,049 Other liabilities — 4,548 (4,399 ) — 149 Net cash (used in) provided by continuing operating activities (15,265 ) 192,808 115,784 (4,596 ) 288,731 Net cash used in discontinued operating activities — (2,548 ) — — (2,548 ) Net cash (used in) provided by operating activities (15,265 ) 190,260 115,784 (4,596 ) 286,183 Investing activities: Cash paid for capital expenditures — (149,402 ) (100,587 ) — (249,989 ) Cash paid for real estate acquisitions — (9,391 ) — — (9,391 ) Other — (5,718 ) 2,604 — (3,114 ) Net cash used in investing activities — (164,511 ) (97,983 ) — (262,494 ) Financing activities: Principal payments on long-term debt (31,492 ) (169 ) (4,427 ) 4,596 (31,492 ) Common stock withheld for minimum statutory taxes, net (2,272 ) — — — (2,272 ) Other (1,742 ) (2,885 ) (2,346 ) — (6,973 ) Cash provided by (used in) intercompany activity 50,771 (37,257 ) (13,514 ) — — Net provided by (used in) in financing activities 15,265 (40,311 ) (20,287 ) 4,596 (40,737 ) Effect of exchange rate changes on cash — — (1,314 ) — (1,314 ) Net decrease in cash and cash equivalents — (14,562 ) (3,800 ) — (18,362 ) Cash and cash equivalents at beginning of the period — 46,860 20,430 — 67,290 Cash and cash equivalents at end of the period $ — $ 32,298 $ 16,630 $ — $ 48,928 Acadia Healthcare Company, Inc. Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2017 (In thousands) Parent Combined Subsidiary Guarantors Combined Non- Guarantors Consolidating Adjustments Total Consolidated Amounts Operating activities: Net income (loss) $ 129,900 $ 114,376 $ 49,555 $ (163,931 ) $ 129,900 Adjustments to reconcile net income (loss) to net cash provided by (used in) continuing operating activities: Equity in earnings of subsidiaries (163,931 ) — — 163,931 — Depreciation and amortization — 48,918 56,338 — 105,256 Amortization of debt issuance costs 7,652 — (312 ) — 7,340 Equity-based compensation expense 19,007 — — — 19,007 Deferred income taxes 156 22,401 6,859 — 29,416 Debt extinguishment costs 810 — — — 810 Other 4,216 1,727 4,729 — 10,672 Change in operating assets and liabilities: Accounts receivable, net — (21,183 ) (7,498 ) — (28,681 ) Other current assets — 1,126 24,973 — 26,099 Other assets 3,479 (705 ) 139 (3,479 ) (566 ) Accounts payable and other accrued liabilities — (22,372 ) (4,009 ) — (26,381 ) Accrued salaries and benefits — (4,759 ) (3,178 ) — (7,937 ) Other liabilities — 4,084 3,593 — 7,677 Net cash provided by (used in) continuing operating activities 1,289 143,613 131,189 (3,479 ) 272,612 Net cash used in discontinued operating activities — (1,261 ) — — (1,261 ) Net cash provided by (used in) operating activities 1,289 142,352 131,189 (3,479 ) 271,351 Investing activities: Cash paid for capital expenditures — (114,130 ) (79,687 ) — (193,817 ) Cash paid for real estate acquisitions — (33,297 ) — — (33,297 ) Other — (7,984 ) 1,922 — (6,062 ) Net cash used in investing activities — (155,411 ) (77,765 ) — (233,176 ) Financing activities: Principal payments on long-term debt (25,913 ) — (3,479 ) 3,479 (25,913 ) Common stock withheld for minimum statutory taxes, net (3,278 ) — — — (3,278 ) Other — 1,649 — — 1,649 Cash provided by (used in) intercompany activity 27,902 39,443 (67,345 ) — — Net (used in) provided by in financing activities (1,289 ) 41,092 (70,824 ) 3,479 (27,542 ) Effect of exchange rate changes on cash — — 7,965 — 7,965 Net increase (decrease) in cash and cash equivalents — 28,033 (9,435 ) — 18,598 Cash and cash equivalents at beginning of the period — 15,681 41,382 — 57,063 Cash and cash equivalents at end of the period $ — $ 43,714 $ 31,947 $ — $ 75,661 |
Description of Business and B_2
Description of Business and Basis of Presentation - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2018FacilityBedState | |
Accounting Policies [Abstract] | |
Number of facilities | Facility | 586 |
Number of beds | Bed | 18,000 |
Number of operating states | State | 40 |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Cost report receivables | $ 10,900,000 | $ 10,900,000 | $ 10,900,000 | ||
Costs of providing charity care services | $ 1,000,000 | $ 1,300,000 | 3,800,000 | $ 4,200,000 | |
Accounting Standards Update 2014-09 [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Cumulative-effect adjustment in retained earnings | $ 0 |
Revenue - Summary of Impact of
Revenue - Summary of Impact of Adoption of Accounting Standards (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||
Revenue before provision for doubtful accounts | $ 760,916 | $ 728,712 | $ 2,268,895 | $ 2,143,696 |
Provision for doubtful accounts | (11,998) | (31,892) | ||
Revenue | 760,916 | $ 716,714 | 2,268,895 | $ 2,111,804 |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||
Revenue before provision for doubtful accounts | 772,380 | 2,298,084 | ||
Provision for doubtful accounts | (11,464) | (29,189) | ||
Revenue | $ 760,916 | $ 2,268,895 |
Revenue - Schedule of U.S. Reve
Revenue - Schedule of U.S. Revenue Attributed to Each Category (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 760,916 | $ 716,714 | $ 2,268,895 | $ 2,111,804 |
U.S. Facilities [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 488,626 | 453,678 | 1,432,501 | 1,355,315 |
U.S. Facilities [Member] | Acute Inpatient Psychiatric Facilities [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 208,885 | 187,497 | 608,311 | 566,173 |
U.S. Facilities [Member] | Specialty Treatment Facilities [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 198,107 | 183,290 | 575,536 | 543,079 |
U.S. Facilities [Member] | Residential Treatment Centers [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 72,351 | 72,677 | 218,041 | 213,300 |
U.S. Facilities [Member] | Outpatient Community-Based Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 9,283 | $ 10,214 | $ 30,613 | $ 32,763 |
Revenue - Schedule of U.S. Re_2
Revenue - Schedule of U.S. Revenue Generated by Each Payor Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | $ 760,916 | $ 728,712 | $ 2,268,895 | $ 2,143,696 |
Provision for doubtful accounts | (11,998) | (31,892) | ||
Revenue | 760,916 | 716,714 | 2,268,895 | 2,111,804 |
U.S. Facilities [Member] | ||||
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | 488,626 | 465,676 | 1,432,501 | 1,387,201 |
Provision for doubtful accounts | (11,998) | (31,886) | ||
Revenue | 488,626 | 453,678 | 1,432,501 | 1,355,315 |
U.S. Facilities [Member] | Commercial [Member] | ||||
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | 146,439 | 142,870 | 431,337 | 431,818 |
U.S. Facilities [Member] | Medicare [Member] | ||||
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | 73,528 | 73,593 | 210,307 | 212,992 |
U.S. Facilities [Member] | Medicaid [Member] | ||||
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | 229,390 | 199,592 | 668,236 | 587,705 |
U.S. Facilities [Member] | Self-Pay [Member] | ||||
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | 33,559 | 43,685 | 103,845 | 130,928 |
U.S. Facilities [Member] | Other [Member] | ||||
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | $ 5,710 | $ 5,936 | $ 18,776 | $ 23,758 |
Revenue - Schedule of U.K. Reve
Revenue - Schedule of U.K. Revenue Attributed to Each Category (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 760,916 | $ 716,714 | $ 2,268,895 | $ 2,111,804 |
U.K. Facilities [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 272,290 | 263,036 | 836,394 | 756,489 |
U.K. Facilities [Member] | Health Care Facilities [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 150,871 | 146,264 | 464,731 | 419,549 |
U.K. Facilities [Member] | Education and Children's Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 46,966 | 42,441 | 145,609 | 124,337 |
U.K. Facilities [Member] | Adult Care Facilities [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 74,453 | $ 74,331 | $ 226,054 | $ 212,603 |
Revenue - Schedule of U.K. Re_2
Revenue - Schedule of U.K. Revenue Generated by Each Payor Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | $ 760,916 | $ 728,712 | $ 2,268,895 | $ 2,143,696 |
Provision for doubtful accounts | (11,998) | (31,892) | ||
Revenue | 760,916 | 716,714 | 2,268,895 | 2,111,804 |
U.K. Facilities [Member] | ||||
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | 272,290 | 263,036 | 836,394 | 756,495 |
Provision for doubtful accounts | (6) | |||
Revenue | 272,290 | 263,036 | 836,394 | 756,489 |
U.K. Facilities [Member] | U.K. Public Funded Sources [Member] | ||||
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | 245,919 | 236,778 | 756,094 | 678,623 |
U.K. Facilities [Member] | Self-Pay [Member] | ||||
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | 26,159 | 24,572 | 78,499 | 70,662 |
U.K. Facilities [Member] | Other [Member] | ||||
Health Care Organization, Receivable and Revenue Disclosures [Line Items] | ||||
Revenue before provision for doubtful accounts | $ 212 | $ 1,686 | $ 1,801 | $ 7,210 |
Revenue - Summary of the Activi
Revenue - Summary of the Activity in Unearned Revenue (Detail) - U.K. Facilities [Member] - Unearned Revenue [Member] $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Disaggregation of Revenue [Line Items] | |
Beginning Balance | $ 30,812 |
Payments received | 126,506 |
Revenue recognized | (124,894) |
Foreign currency translation loss | (1,687) |
Ending Balance | $ 30,737 |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Numerator: | ||||
Net income attributable to Acadia Healthcare Company, Inc. | $ 46,232 | $ 45,618 | $ 155,887 | $ 130,206 |
Denominator: | ||||
Weighted average shares outstanding for basic earnings per share | 87,344 | 87,017 | 87,233 | 86,912 |
Effect of dilutive instruments | 193 | 155 | 153 | 126 |
Shares used in computing diluted earnings per common share | 87,537 | 87,172 | 87,386 | 87,038 |
Earnings per share attributable to Acadia Healthcare Company, Inc. stockholders: | ||||
Basic | $ 0.53 | $ 0.52 | $ 1.79 | $ 1.50 |
Diluted | $ 0.53 | $ 0.52 | $ 1.78 | $ 1.50 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Earnings Per Share [Abstract] | ||||
Excluded common stock for computation of diluted earnings per share | 1.6 | 1 | 1.9 | 1.5 |
Other Intangible Assets - Other
Other Intangible Assets - Other Identifiable Intangible Assets and Related Accumulated Amortization (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ||
Intangible assets subject to amortization, Gross Carrying Amount | $ 3,247 | $ 3,247 |
Intangible assets not subject to amortization, Gross Carrying Amount | 91,259 | 87,348 |
Total | 94,506 | 90,595 |
Intangible assets subject to amortization, Accumulated Amortization | (3,247) | (3,247) |
Intangible assets not subject to amortization, Accumulated Amortization | 0 | 0 |
Total | (3,247) | (3,247) |
Contract Intangible Assets [Member] | ||
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ||
Intangible assets subject to amortization, Gross Carrying Amount | 2,100 | 2,100 |
Intangible assets subject to amortization, Accumulated Amortization | (2,100) | (2,100) |
Non-Compete Agreements [Member] | ||
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ||
Intangible assets subject to amortization, Gross Carrying Amount | 1,147 | 1,147 |
Intangible assets subject to amortization, Accumulated Amortization | (1,147) | (1,147) |
Licenses and Accreditations [Member] | ||
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ||
Intangible assets not subject to amortization, Gross Carrying Amount | 12,766 | 12,266 |
Intangible assets not subject to amortization, Accumulated Amortization | 0 | 0 |
Trade Names [Member] | ||
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ||
Intangible assets not subject to amortization, Gross Carrying Amount | 61,675 | 60,586 |
Intangible assets not subject to amortization, Accumulated Amortization | 0 | 0 |
Certificates of Need [Member] | ||
Schedule Of Finite and Indefinite Lived Other Intangible Assets [Line Items] | ||
Intangible assets not subject to amortization, Gross Carrying Amount | 16,818 | 14,496 |
Intangible assets not subject to amortization, Accumulated Amortization | $ 0 | $ 0 |
Property and Equipment - Summar
Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 3,571,765 | $ 3,395,549 |
Less accumulated depreciation | (445,123) | (347,419) |
Property and equipment, net | 3,126,642 | 3,048,130 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 444,579 | 450,342 |
Building and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 2,443,980 | 2,370,918 |
Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 434,205 | 400,596 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 249,001 | $ 173,693 |
Long-Term Debt - Components of
Long-Term Debt - Components of Long-Term Debt (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 21, 2015 |
Debt Instrument [Line Items] | |||
Less: unamortized debt issuance costs, discount and premium | $ (43,602) | $ (50,432) | |
Long-term debt | 3,215,226 | 3,239,888 | |
Less: current portion | (33,264) | (34,830) | |
Long-term debt | 3,181,962 | 3,205,058 | |
Amended and Restated Senior Credit Facility [Member] | Senior Secured Term A Loans [Member] | |||
Debt Instrument [Line Items] | |||
Senior Secured | 370,500 | 380,000 | |
Amended and Restated Senior Credit Facility [Member] | Senior Secured Term B Loans [Member] | |||
Debt Instrument [Line Items] | |||
Senior Secured | 1,376,408 | 1,398,400 | |
6.125% Senior Notes Due 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Senior Notes | 150,000 | 150,000 | |
5.125% Senior Notes Due 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Senior Notes | 300,000 | 300,000 | |
5.625% Senior Notes Due 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Senior Notes | 650,000 | 650,000 | $ 650,000 |
6.500% Senior Notes Due 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Senior Notes | 390,000 | 390,000 | |
9.0% and 9.5% Revenue Bonds [Member] | |||
Debt Instrument [Line Items] | |||
9.0% and 9.5% Revenue Bonds | $ 21,920 | $ 21,920 |
Long-Term Debt - Components o_2
Long-Term Debt - Components of Long-Term Debt (Parenthetical) (Detail) | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2018 | Dec. 31, 2017 | Feb. 16, 2016 | Sep. 21, 2015 | Feb. 11, 2015 | Jul. 01, 2014 | Mar. 12, 2013 | |
6.125% Senior Notes Due 2021 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 6.125% | 6.125% | 6.125% | ||||
Senior notes maturity year | 2,021 | 2,021 | |||||
5.125% Senior Notes Due 2022 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 5.125% | 5.125% | 5.125% | ||||
Senior notes maturity year | 2,022 | 2,022 | |||||
5.625% Senior Notes Due 2023 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 5.625% | 5.625% | 5.625% | 5.625% | |||
Senior notes maturity year | 2,023 | 2,023 | |||||
6.500% Senior Notes Due 2024 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 6.50% | 6.50% | 6.50% | ||||
Senior notes maturity year | 2,024 | 2,024 | |||||
9.0% Revenue Bonds [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 9.00% | 9.00% | |||||
9.5% Revenue Bonds [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 9.50% | 9.50% |
Long-Term Debt (Amended and Res
Long-Term Debt (Amended and Restated Senior Credit Facility) - Additional Information (Detail) - USD ($) | Apr. 17, 2018 | Mar. 29, 2018 | Mar. 22, 2018 | Mar. 21, 2018 | Dec. 29, 2017 | May 10, 2017 | May 09, 2017 | Dec. 15, 2015 | Dec. 31, 2012 | Apr. 01, 2011 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 15, 2014 |
Debt Instrument [Line Items] | ||||||||||||||||||
Debt extinguishment costs | $ (940,000) | $ (810,000) | ||||||||||||||||
Term loan repayments | $ 15,000,000 | $ 22,500,000 | ||||||||||||||||
Consolidated funded debt, unrestricted and unencumbered cash to consolidated EBITDA | $ 40,000,000 | |||||||||||||||||
Term Loan A- Facility [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Line of credit | $ 400,000,000 | |||||||||||||||||
Tranche B-1 Repricing Amendment [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan repayments | 7,700,000 | |||||||||||||||||
Tranche B-2 Repricing Amendment [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan repayments | $ 14,800,000 | |||||||||||||||||
Tranche B-3 Facility [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan repayments | 5,100,000 | |||||||||||||||||
Tranche B-4 Facilities [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan repayments | $ 9,900,000 | |||||||||||||||||
Eurodollar [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest on borrowings | 2.50% | |||||||||||||||||
Base Rate Loans [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest on borrowings | 1.50% | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Date entered into an agreement | Dec. 31, 2012 | Apr. 1, 2011 | ||||||||||||||||
Amount available under revolving line of credit | $ 494,100,000 | |||||||||||||||||
Debt instrument maturity date | Nov. 30, 2021 | Feb. 11, 2022 | ||||||||||||||||
Term loan repayments | $ 1,200,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | December 31, 2018 to December 31, 2019 [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan principal repayments | $ 4,800,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | March 31, 2020 to December 31, 2020 [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan principal repayments | 7,100,000 | |||||||||||||||||
Term loan repayments | $ 1,200,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | March 31, 2021 to September 30, 2021 [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan principal repayments | $ 9,500,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | September 30, 2018 to December 31, 2019 [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan repayments | $ 1,200,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | September 30, 2015 to December 31, 2015 [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan repayments | $ 1,200,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Standby Letters of Credit [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Standby letters of credit outstanding | $ 5,900,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | TLB Facility Due on February 16, 2023 [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan repayments | $ 2,300,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | TLB Facility Due on February 16, 2023 [Member] | March 31, 2020 to December 31, 2020 [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan repayments | $ 2,300,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | TLB Facility Due on February 16, 2023 [Member] | September 30, 2018 to December 31, 2019 [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan repayments | $ 2,300,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | TLB Facility Due on February 16, 2023 [Member] | September 30, 2015 to December 31, 2015 [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Term loan repayments | $ 2,300,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Third Repricing Amendment [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt extinguishment costs | $ 800,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Repricing Facilities Amendments [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt extinguishment costs | $ 900,000 | |||||||||||||||||
Revolving credit facility applicable rate | 0.25% | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Repricing Facilities Amendments [Member] | Senior Secured Revolving Line of Credit [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Line of credit | $ 500,000,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Repricing Facilities Amendments [Member] | Term Loan A- Facility [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Line of credit | $ 380,000,000 | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Eurodollar [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 1.00% | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Eurodollar [Member] | Third Repricing Amendment [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest on borrowings | 2.75% | 3.00% | ||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Eurodollar [Member] | Repricing Facilities Amendments [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest on borrowings | 2.50% | 2.75% | ||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Base Rate Loans [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.50% | |||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Base Rate Loans [Member] | Third Repricing Amendment [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest on borrowings | 1.75% | 2.00% | ||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | Base Rate Loans [Member] | Repricing Facilities Amendments [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest on borrowings | 1.50% | 1.75% | ||||||||||||||||
Amended and Restated Senior Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest on borrowings | 2.50% |
Long-Term Debt (6.125% Senior N
Long-Term Debt (6.125% Senior Notes due 2021) - Additional Information (Detail) - 6.125% Senior Notes Due 2021 [Member] - USD ($) | Mar. 12, 2013 | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | |||
Issued Senior Notes | $ 150,000,000 | ||
Debt instrument interest rate | 6.125% | 6.125% | 6.125% |
Debt instrument maturity date | Mar. 15, 2021 | ||
Interest on the notes | Payable semi-annually in arrears on March 15 and September 15 of each year. |
Long-Term Debt (5.125% Senior N
Long-Term Debt (5.125% Senior Notes due 2022) - Additional Information (Detail) - 5.125% Senior Notes Due 2022 [Member] - USD ($) | Jul. 01, 2014 | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | |||
Issued Senior Notes | $ 300,000,000 | ||
Debt instrument interest rate | 5.125% | 5.125% | 5.125% |
Debt instrument maturity date | Jul. 1, 2022 | ||
Interest on the notes | Payable semi-annually in arrears on January 1 and July 1 of each year. |
Long-Term Debt (5.625% Senior N
Long-Term Debt (5.625% Senior Notes due 2023) - Additional Information (Detail) - 5.625% Senior Notes Due 2023 [Member] - USD ($) | 9 Months Ended | |||
Sep. 30, 2018 | Dec. 31, 2017 | Sep. 21, 2015 | Feb. 11, 2015 | |
Debt Instrument [Line Items] | ||||
Issued Senior Notes | $ 275,000,000 | $ 375,000,000 | ||
Debt instrument interest rate | 5.625% | 5.625% | 5.625% | 5.625% |
Senior Notes | $ 650,000,000 | $ 650,000,000 | $ 650,000,000 | |
Debt instrument maturity date | Feb. 15, 2023 | |||
Interest on the notes | Payable semi-annually in arrears on February 15 and August 15 of each year. |
Long-Term Debt (6.500% Senior N
Long-Term Debt (6.500% Senior Notes due 2024) - Additional Information (Detail) - 6.500% Senior Notes Due 2024 [Member] - USD ($) | Feb. 16, 2016 | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | |||
Issued Senior Notes | $ 390,000,000 | ||
Debt instrument interest rate | 6.50% | 6.50% | 6.50% |
Debt instrument maturity date | Mar. 1, 2024 | ||
Interest on the notes | Payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2016. |
Long-Term Debt (9.0% and 9.5% R
Long-Term Debt (9.0% and 9.5% Revenue Bonds) - Additional Information (Detail) - USD ($) $ in Thousands | Nov. 11, 2012 | Sep. 30, 2018 | Dec. 31, 2017 |
9.0% and 9.5% Revenue Bonds [Member] | |||
Debt Instrument [Line Items] | |||
9.0% and 9.5% Revenue Bonds | $ 21,920 | $ 21,920 | |
9.0% and 9.5% Revenue Bonds [Member] | Park Royal [Member] | |||
Debt Instrument [Line Items] | |||
9.0% and 9.5% Revenue Bonds | $ 23,000 | ||
Debt service reserve fund within other assets | $ 2,300 | $ 2,300 | |
Debt instrument premium | 2,600 | ||
9.0% and 9.5% Revenue Bonds [Member] | Fair Value [Member] | Park Royal [Member] | |||
Debt Instrument [Line Items] | |||
9.0% and 9.5% Revenue Bonds | 25,600 | ||
9.0% Revenue Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 9.00% | 9.00% | |
9.0% Revenue Bonds [Member] | Park Royal [Member] | |||
Debt Instrument [Line Items] | |||
9.0% and 9.5% Revenue Bonds | $ 7,500 | ||
Debt instrument interest rate | 9.00% | ||
Debt instrument maturity date | Dec. 1, 2030 | ||
9.5% Revenue Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 9.50% | 9.50% | |
9.5% Revenue Bonds [Member] | Park Royal [Member] | |||
Debt Instrument [Line Items] | |||
9.0% and 9.5% Revenue Bonds | $ 15,500 | ||
Debt instrument interest rate | 9.50% | ||
Debt instrument maturity date | Dec. 1, 2040 |
Equity-Based Compensation - Add
Equity-Based Compensation - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Authorized common stock | 8,200,000 | 8,200,000 | ||
Equity incentive plan available for future grant | 3,233,738 | 3,233,738 | ||
Annual increments in employee grants | 25.00% | |||
Stock options, contractual term | 10 years | |||
Equity-based compensation expense | $ 5,225,000 | $ 4,175,000 | $ 19,273,000 | $ 19,007,000 |
Unrecognized compensation expense related to unvested options | $ 47,800,000 | |||
Vesting period | 1 year 2 months 12 days | |||
Warrant outstanding | 0 | $ 0 | ||
Deferred income tax benefit | (1,738,000) | 29,416,000 | ||
Stock Compensation Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Deferred income tax benefit | $ 1,400,000 | $ 1,500,000 | $ 5,200,000 | $ 7,300,000 |
Restricted Stock Award [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
Restricted Stock Award [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 4 years | |||
Restricted Stock Units [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 2 years | |||
Number of shares issuable at the end of the vesting period, percentage | 0.00% | |||
Restricted Stock Units [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
Number of shares issuable at the end of the vesting period, percentage | 200.00% |
Equity-Based Compensation - Sto
Equity-Based Compensation - Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||
Options outstanding, Beginning balance | 974,566 | 1,000,946 | |
Options granted | 353,800 | 259,300 | |
Options exercised | (9,889) | (87,367) | |
Options cancelled | (102,787) | (198,313) | |
Options outstanding, Ending balance | 1,215,690 | 974,566 | 1,000,946 |
Options exercisable, Ending balance | 543,139 | 405,634 | |
Options outstanding, Weighted Average Exercise Price, Beginning balance | $ 47.89 | $ 49.42 | |
Options granted, Weighted Average Exercise Price | 37.36 | 42.25 | |
Options exercised, Weighted Average Exercise Price | 24.67 | 25.92 | |
Options cancelled, Weighted Average Exercise Price | 51.23 | 54.71 | |
Options outstanding, Weighted Average Exercise Price, Ending balance | 44.69 | 47.89 | $ 49.42 |
Options exercisable, Weighted Average Exercise Price, Ending balance | $ 44.65 | $ 41.20 | |
Options outstanding, Weighted Average Remaining Contractual Term | 7 years 5 months 4 days | 7 years 5 months 15 days | 7 years 9 months 18 days |
Options granted, Weighted Average Remaining Contractual Term | 9 years 5 months 1 day | 9 years 3 months 18 days | |
Options exercisable, Weighted Average Remaining Contractual Term, Ending balance | 5 years 10 months 13 days | 6 years 18 days | |
Options outstanding, Aggregate Intrinsic Value | $ 3,536 | $ 3,802 | $ 8,166 |
Options granted, Aggregate Intrinsic Value | 475 | 205 | |
Options exercised, Aggregate Intrinsic Value | 165 | 1,636 | |
Options cancelled, Aggregate Intrinsic Value | 0 | 0 | |
Options exercisable, Aggregate Intrinsic Value, Ending balance | $ 2,835 | $ 3,549 |
Equity-Based Compensation - Sch
Equity-Based Compensation - Schedule of Stock Options Valuation Assumptions (Detail) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Weighted average grant-date fair value of options | $ 13.61 | $ 14.39 |
Risk-free interest rate | 2.20% | 2.00% |
Expected volatility | 37.00% | 33.00% |
Expected life (in years) | 5 years | 5 years 6 months |
Equity-Based Compensation - Res
Equity-Based Compensation - Restricted Stock Activity (Detail) - Restricted Stock Award [Member] - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unvested, Number of Shares/Units, Beginning balance | 809,868 | 844,419 |
Granted, Number of Shares | 441,837 | 404,224 |
Cancelled, Number of Shares | (71,067) | (145,981) |
Vested, Number of Shares | (283,077) | (292,794) |
Unvested, Number of Shares/Units, Ending balance | 897,561 | 809,868 |
Unvested, Weighted Average Grant-Date Fair Value, Beginning balance | $ 50.19 | $ 55.76 |
Granted, Weighted Average Grant-Date Fair Value | 36.51 | 42.38 |
Cancelled, Weighted Average Grant-Date Fair Value | 48.36 | 55.03 |
Vested, Weighted Average Grant-Date Fair Value | 53.24 | 53.07 |
Unvested, Weighted Average Grant-Date Fair Value, Ending balance | $ 42.64 | $ 50.19 |
Equity-Based Compensation - R_2
Equity-Based Compensation - Restricted Stock Unit Activity (Detail) - Restricted Stock Units [Member] - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unvested, Number of Shares/Units, Beginning balance | 360,909 | 273,599 |
Granted, Number of Units | 285,358 | 219,840 |
Cancelled, Number of Units | (87,173) | |
Vested, Number of Units | (72,983) | (132,530) |
Unvested, Number of Shares/Units, Ending balance | 486,111 | 360,909 |
Unvested, Weighted Average Grant-Date Fair Value, Beginning balance | $ 50.04 | $ 59.68 |
Granted, Weighted Average Grant-Date Fair Value | 42.26 | 43.23 |
Cancelled, Weighted Average Grant-Date Fair Value | 55.44 | |
Vested, Weighted Average Grant-Date Fair Value | 49.64 | 58.67 |
Unvested, Weighted Average Grant-Date Fair Value, Ending balance | $ 44.52 | $ 50.04 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Income Tax Examination [Line Items] | |||||
Effective tax rates | 15.90% | 26.00% | 9.50% | 26.30% | |
Discrete tax benefit recorded | $ (8,757) | $ (15,970) | $ (16,339) | $ (46,259) | |
Increase in income tax provision due to adoption of ASU 2016-09 | $ 1,200 | $ 1,700 | |||
Percentage increase in income tax provision due to adoption of ASU 2016-09 | 0.70% | 1.00% | |||
U.S. federal statutory rate on income before income taxes | 21.00% | 35.00% | |||
Transition tax on certain repatriated earnings of foreign subsidiaries payable period | 8 years | ||||
Provisional tax amount | $ 19,300 | ||||
One-time transition tax liability, foreign earnings | 0 | 0 | |||
Deferred tax balance | $ 19,300 | 19,300 | |||
Provisional amount of transition tax liability, foreign subsidiaries | 0 | ||||
Foreign dividends | 10,900 | ||||
Change in Accounting Method Accounted for as Change in Estimate [Member] | |||||
Income Tax Examination [Line Items] | |||||
Discrete tax benefit recorded | $ 10,500 |
Derivatives - Additional Inform
Derivatives - Additional Information (Detail) | 1 Months Ended | |||
May 31, 2016USD ($) | May 31, 2016GBP (£) | Sep. 30, 2018USD ($) | May 31, 2016GBP (£) | |
Derivative [Line Items] | ||||
Cross currency swap assets | $ 33,100,000 | |||
Cross Currency Swap Assets [Member] | ||||
Derivative [Line Items] | ||||
Notional amount | $ 650,000,000 | £ 449,300,000 | ||
Cross currency swap agreement cash flow due to interest payment | $ 35,800,000 | £ 24,700,000 | ||
Derivative exchange rate | 1.45 | 1.45 |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Fair Values of Company's Amended and Restated Senior Credit Facilities and Contingent Consideration Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative instrument assets | $ 33,084 | $ 12,997 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative instrument assets | 33,084 | 12,997 |
Carrying Amount [Member] | Amended and Restated Senior Credit Facility [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior Secured | 1,722,010 | 1,749,185 |
Carrying Amount [Member] | 6.125% Senior Notes Due 2021 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior Notes | 148,514 | 148,098 |
Carrying Amount [Member] | 5.125% Senior Notes Due 2022 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior Notes | 296,750 | 296,174 |
Carrying Amount [Member] | 5.625% Senior Notes Due 2023 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior Notes | 642,932 | 641,891 |
Carrying Amount [Member] | 6.500% Senior Notes due 2024 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior Notes | 383,033 | 382,251 |
Carrying Amount [Member] | 9.0% and 9.5% Revenue Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
9.0% and 9.5% Revenue Bonds | 21,987 | 22,289 |
Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative instrument assets | 33,084 | 12,997 |
Fair Value [Member] | Amended and Restated Senior Credit Facility [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Amended and Restated Senior Credit Facility | 1,722,010 | 1,749,185 |
Fair Value [Member] | 6.125% Senior Notes Due 2021 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior Notes | 149,257 | 150,134 |
Fair Value [Member] | 5.125% Senior Notes Due 2022 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior Notes | 296,008 | 296,914 |
Fair Value [Member] | 5.625% Senior Notes Due 2023 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior Notes | 647,561 | 651,519 |
Fair Value [Member] | 6.500% Senior Notes due 2024 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior Notes | 395,960 | 397,541 |
Fair Value [Member] | 9.0% and 9.5% Revenue Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
9.0% and 9.5% Revenue Bonds | $ 21,987 | $ 22,289 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) | Sep. 30, 2018 | Dec. 31, 2017 | Feb. 16, 2016 | Sep. 21, 2015 | Feb. 11, 2015 | Jul. 01, 2014 | Mar. 12, 2013 |
6.125% Senior Notes Due 2021 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 6.125% | 6.125% | 6.125% | ||||
5.125% Senior Notes Due 2022 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 5.125% | 5.125% | 5.125% | ||||
5.625% Senior Notes Due 2023 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 5.625% | 5.625% | 5.625% | 5.625% | |||
6.500% Senior Notes Due 2024 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 6.50% | 6.50% | 6.50% | ||||
9.0% Revenue Bonds [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 9.00% | 9.00% | |||||
9.5% Revenue Bonds [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument interest rate | 9.50% | 9.50% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2018Facility | Sep. 30, 2018USD ($) | |
Loss Contingencies [Line Items] | ||
Maximum professional liability aggregate policy limit | $ 75,000,000 | |
West Virginia [Member] | ||
Loss Contingencies [Line Items] | ||
Number of comprehensive treatment centers operate | Facility | 7 | |
Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Maximum self insured professional liability limit per claim | 3,000,000 | |
Minimum [Member] | ||
Loss Contingencies [Line Items] | ||
Maximum professional liability retention limit | $ 3,000,000 |
Noncontrolling Interests - Addi
Noncontrolling Interests - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2018Facility | |
Noncontrolling Interest [Line Items] | |
Number of facilities operated by non-wholly owned subsidiaries | 4 |
Minimum [Member] | |
Noncontrolling Interest [Line Items] | |
Equity ownership interests percentage in the facility | 60.00% |
Maximum [Member] | |
Noncontrolling Interest [Line Items] | |
Equity ownership interests percentage in the facility | 80.00% |
Noncontrolling Interests - Summ
Noncontrolling Interests - Summary of Redeemable Noncontrolling Interests (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Noncontrolling Interest [Abstract] | |
Beginning Balance | $ 22,417 |
Contribution of redeemable noncontrolling interests | 6,125 |
Net income attributable to noncontrolling interests | 156 |
Ending Balance | $ 28,698 |
Other Current Assets - Other Cu
Other Current Assets - Other Current Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ||
Prepaid expenses | $ 35,682 | $ 27,320 |
Other receivables | 30,203 | 30,455 |
Income taxes receivable | 11,326 | 15,056 |
Workers’ compensation deposits – current portion | 10,000 | 10,000 |
Inventory | 5,021 | 4,787 |
Insurance receivable-current portion | 2,049 | 17,588 |
Other | 1,865 | 2,129 |
Other current assets | $ 96,146 | $ 107,335 |
Other Accrued Liabilities - Sum
Other Accrued Liabilities - Summary of Other Accrued Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts Payable And Accrued Liabilities Current [Abstract] | ||
Accrued expenses | $ 42,876 | $ 37,268 |
Unearned income | 31,581 | 31,342 |
Accrued interest | 12,835 | 36,370 |
Income taxes payable | 11,312 | 1,012 |
Insurance liability – current portion | 4,956 | 22,788 |
Accrued property taxes | 5,570 | 3,945 |
Other | 5,284 | 8,488 |
Other accrued liabilities | $ 114,414 | $ 141,213 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2018FacilityBedState | |
Segment Reporting Information [Line Items] | |
Number of facilities | Facility | 586 |
Number of beds | Bed | 18,000 |
Number of operating states | State | 40 |
U.S. Facilities [Member] | |
Segment Reporting Information [Line Items] | |
Number of facilities | Facility | 215 |
Number of beds | Bed | 9,200 |
Number of operating states | State | 40 |
U.K. Facilities [Member] | |
Segment Reporting Information [Line Items] | |
Number of facilities | Facility | 371 |
Number of beds | Bed | 8,800 |
Segment Information - Summary o
Segment Information - Summary of Reconciliation of Segment EBITDA to Income from Continuing Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 760,916 | $ 716,714 | $ 2,268,895 | $ 2,111,804 |
Segment EBITDA | 148,924 | 152,256 | 459,669 | 450,845 |
Equity-based compensation expense | (5,225) | (4,175) | (19,273) | (19,007) |
Transaction-related expenses | (2,353) | (5,665) | (10,008) | (18,836) |
Debt extinguishment costs | (940) | (810) | ||
Interest expense, net | (46,651) | (44,515) | (137,706) | (130,777) |
Depreciation and amortization | (39,659) | (36,442) | (119,360) | (105,256) |
Income before income taxes | 55,036 | 61,459 | 172,382 | 176,159 |
U.S. Facilities [Member] | Operating Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 488,626 | 453,678 | 1,432,501 | 1,355,315 |
Segment EBITDA | 128,537 | 118,744 | 375,663 | 359,250 |
U.K. Facilities [Member] | Operating Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 272,290 | 263,036 | 836,394 | 756,489 |
Segment EBITDA | 40,735 | 50,665 | 146,081 | 146,941 |
Corporate and Other [Member] | Corporate Reconciling Items and Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment EBITDA | $ (20,348) | $ (17,153) | $ (62,075) | $ (55,346) |
Segment Information - Summary_2
Segment Information - Summary of Financial Information by Operating Segment, Goodwill (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Goodwill: | |
Beginning balance | $ 2,751,174 |
Increase from contribution of redeemable noncontrolling interests | 2,244 |
Foreign currency translation loss | (24,239) |
Prior year purchase price adjustments | 762 |
Ending balance | 2,729,941 |
U.S. Facilities [Member] | Operating Segment [Member] | |
Goodwill: | |
Beginning balance | 2,042,592 |
Increase from contribution of redeemable noncontrolling interests | 2,244 |
Ending balance | 2,044,836 |
U.K. Facilities [Member] | Operating Segment [Member] | |
Goodwill: | |
Beginning balance | 708,582 |
Foreign currency translation loss | (24,239) |
Prior year purchase price adjustments | 762 |
Ending balance | $ 685,105 |
Segment Information - Summary_3
Segment Information - Summary of Financial Information by Operating Segment, Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets: | ||
Assets | $ 6,529,584 | $ 6,424,502 |
U.S. Facilities [Member] | Operating Segment [Member] | ||
Assets: | ||
Assets | 3,753,345 | 3,567,126 |
U.K. Facilities [Member] | Operating Segment [Member] | ||
Assets: | ||
Assets | 2,568,318 | 2,647,150 |
Corporate and Other [Member] | Corporate Reconciling Items and Eliminations [Member] | ||
Assets: | ||
Assets | $ 207,921 | $ 210,226 |
Segment Information - Summary_4
Segment Information - Summary of Financial Information by Operating Segment, Assets (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Property and equipment, net | $ 3,126,642 | $ 3,048,130 |
Operating Segment [Member] | U.S. Facilities [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Property and equipment, net | 1,300,000 | 1,200,000 |
Operating Segment [Member] | U.K. Facilities [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Property and equipment, net | 1,800,000 | 1,800,000 |
Corporate Reconciling Items and Eliminations [Member] | Corporate and Other [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Property and equipment, net | $ 53,900 | $ 49,200 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss - Components Of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | $ 2,572,871 | |||
Foreign currency translation (loss) gain | $ (31,959) | $ 69,622 | (82,778) | $ 188,744 |
Gain on derivative instruments, net of tax of $5.6 million | 7,380 | $ (9,402) | 16,434 | $ (24,354) |
Balance | 2,680,249 | 2,680,249 | ||
Foreign Currency Translation Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | (376,740) | |||
Foreign currency translation (loss) gain | (82,935) | |||
Balance | (459,675) | (459,675) | ||
Change in Fair Value of Derivative Instruments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | 7,167 | |||
Gain on derivative instruments, net of tax of $5.6 million | 16,434 | |||
Balance | 23,601 | 23,601 | ||
Pension Plan [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | (4,545) | |||
Foreign currency translation (loss) gain | 157 | |||
Balance | (4,388) | (4,388) | ||
Other Comprehensive Loss [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | (374,118) | |||
Balance | $ (440,462) | $ (440,462) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Loss - Components Of Accumulated Other Comprehensive Loss (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] | ||||
Gain (Loss) on derivative instruments, tax | $ 2.4 | $ (6.7) | $ 5.6 | $ (18.8) |
Financial Information for the_3
Financial Information for the Company and Its Subsidiaries - Additional Information (Detail) | Sep. 30, 2018 | Dec. 31, 2017 | Feb. 16, 2016 | Sep. 21, 2015 | Feb. 11, 2015 | Jul. 01, 2014 | Mar. 12, 2013 |
6.125% Senior Notes Due 2021 [Member] | |||||||
Line of Credit Facility [Line Items] | |||||||
Debt instrument interest rate | 6.125% | 6.125% | 6.125% | ||||
5.125% Senior Notes Due 2022 [Member] | |||||||
Line of Credit Facility [Line Items] | |||||||
Debt instrument interest rate | 5.125% | 5.125% | 5.125% | ||||
5.625% Senior Notes Due 2023 [Member] | |||||||
Line of Credit Facility [Line Items] | |||||||
Debt instrument interest rate | 5.625% | 5.625% | 5.625% | 5.625% | |||
6.500% Senior Notes Due 2024 [Member] | |||||||
Line of Credit Facility [Line Items] | |||||||
Debt instrument interest rate | 6.50% | 6.50% | 6.50% |
Financial Information for the_4
Financial Information for the Company and Its Subsidiaries - Summary of Condensed Consolidating Balance Sheets (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 |
Current assets: | ||||
Cash and cash equivalents | $ 48,928 | $ 67,290 | $ 75,661 | $ 57,063 |
Accounts receivable, net | 345,659 | 296,925 | ||
Other current assets | 96,146 | 107,335 | ||
Total current assets | 490,733 | 471,550 | ||
Property and equipment, net | 3,126,642 | 3,048,130 | ||
Goodwill | 2,729,941 | 2,751,174 | ||
Intangible assets, net | 91,259 | 87,348 | ||
Deferred tax assets | 3,630 | 3,731 | ||
Derivative instruments assets | 33,084 | 12,997 | ||
Other assets | 54,295 | 49,572 | ||
Total assets | 6,529,584 | 6,424,502 | ||
Current liabilities: | ||||
Current portion of long-term debt | 33,264 | 34,830 | ||
Accounts payable | 133,914 | 102,299 | ||
Accrued salaries and benefits | 109,151 | 99,047 | ||
Other accrued liabilities | 114,414 | 141,213 | ||
Total current liabilities | 390,743 | 377,389 | ||
Long-term debt | 3,181,962 | 3,205,058 | ||
Deferred tax liabilities | 82,269 | 80,333 | ||
Other liabilities | 165,663 | 166,434 | ||
Total liabilities | 3,820,637 | 3,829,214 | ||
Redeemable noncontrolling interests | 28,698 | 22,417 | ||
Total equity | 2,680,249 | 2,572,871 | ||
Total liabilities and equity | 6,529,584 | 6,424,502 | ||
Consolidating Adjustments [Member] | ||||
Current assets: | ||||
Deferred tax assets | (2,296) | (2,370) | ||
Investment in subsidiaries | (5,523,816) | (5,429,386) | ||
Other assets | (323,668) | (379,008) | ||
Total assets | (5,849,780) | (5,810,764) | ||
Current liabilities: | ||||
Long-term debt | (323,668) | (379,008) | ||
Deferred tax liabilities | (2,296) | (2,370) | ||
Total liabilities | (325,964) | (381,378) | ||
Total equity | (5,523,816) | (5,429,386) | ||
Total liabilities and equity | (5,849,780) | (5,810,764) | ||
Parent [Member] | ||||
Current assets: | ||||
Deferred tax assets | 2,296 | 2,370 | ||
Derivative instruments assets | 33,084 | 12,997 | ||
Investment in subsidiaries | 5,523,816 | 5,429,386 | ||
Other assets | 326,442 | 381,913 | ||
Total assets | 5,885,638 | 5,826,666 | ||
Current liabilities: | ||||
Current portion of long-term debt | 32,984 | 34,550 | ||
Other accrued liabilities | 12,150 | 36,196 | ||
Total current liabilities | 45,134 | 70,746 | ||
Long-term debt | 3,160,255 | 3,183,049 | ||
Total liabilities | 3,205,389 | 3,253,795 | ||
Total equity | 2,680,249 | 2,572,871 | ||
Total liabilities and equity | 5,885,638 | 5,826,666 | ||
Combined Subsidiary Guarantors [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 32,298 | 46,860 | 43,714 | 15,681 |
Accounts receivable, net | 270,535 | 230,890 | ||
Other current assets | 70,260 | 85,746 | ||
Total current assets | 373,093 | 363,496 | ||
Property and equipment, net | 1,197,218 | 1,086,802 | ||
Goodwill | 1,936,057 | 1,936,057 | ||
Intangible assets, net | 58,405 | 57,628 | ||
Other assets | 42,688 | 38,860 | ||
Total assets | 3,607,461 | 3,482,843 | ||
Current liabilities: | ||||
Accounts payable | 90,497 | 70,767 | ||
Accrued salaries and benefits | 80,156 | 69,057 | ||
Other accrued liabilities | 34,908 | 27,676 | ||
Total current liabilities | 205,561 | 167,500 | ||
Deferred tax liabilities | 31,180 | 27,975 | ||
Other liabilities | 109,181 | 103,112 | ||
Total liabilities | 345,922 | 298,587 | ||
Total equity | 3,261,539 | 3,184,256 | ||
Total liabilities and equity | 3,607,461 | 3,482,843 | ||
Combined Non-Guarantors [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 16,630 | 20,430 | $ 31,947 | $ 41,382 |
Accounts receivable, net | 75,124 | 66,035 | ||
Other current assets | 25,886 | 21,589 | ||
Total current assets | 117,640 | 108,054 | ||
Property and equipment, net | 1,929,424 | 1,961,328 | ||
Goodwill | 793,884 | 815,117 | ||
Intangible assets, net | 32,854 | 29,720 | ||
Deferred tax assets | 3,630 | 3,731 | ||
Other assets | 8,833 | 7,807 | ||
Total assets | 2,886,265 | 2,925,757 | ||
Current liabilities: | ||||
Current portion of long-term debt | 280 | 280 | ||
Accounts payable | 43,417 | 31,532 | ||
Accrued salaries and benefits | 28,995 | 29,990 | ||
Other accrued liabilities | 67,356 | 77,341 | ||
Total current liabilities | 140,048 | 139,143 | ||
Long-term debt | 345,375 | 401,017 | ||
Deferred tax liabilities | 53,385 | 54,728 | ||
Other liabilities | 56,482 | 63,322 | ||
Total liabilities | 595,290 | 658,210 | ||
Redeemable noncontrolling interests | 28,698 | 22,417 | ||
Total equity | 2,262,277 | 2,245,130 | ||
Total liabilities and equity | $ 2,886,265 | $ 2,925,757 |
Financial Information for the_5
Financial Information for the Company and Its Subsidiaries - Summary of Condensed Consolidating Statement of Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Condensed Financial Statements, Captions [Line Items] | ||||
Revenue before provision for doubtful accounts | $ 760,916 | $ 728,712 | $ 2,268,895 | $ 2,143,696 |
Provision for doubtful accounts | (11,998) | (31,892) | ||
Revenue | 760,916 | 716,714 | 2,268,895 | 2,111,804 |
Salaries, wages and benefits | 417,917 | 385,562 | 1,246,186 | 1,145,578 |
Professional fees | 59,509 | 53,042 | 166,988 | 142,772 |
Supplies | 29,461 | 28,652 | 88,958 | 85,000 |
Rents and leases | 19,866 | 19,049 | 60,390 | 57,455 |
Other operating expenses | 90,464 | 82,328 | 265,977 | 249,161 |
Depreciation and amortization | 39,659 | 36,442 | 119,360 | 105,256 |
Interest expense, net | 46,651 | 44,515 | 137,706 | 130,777 |
Debt extinguishment costs | 940 | 810 | ||
Transaction-related expenses | 2,353 | 5,665 | 10,008 | 18,836 |
Total expenses | 705,880 | 655,255 | 2,096,513 | 1,935,645 |
(Loss) income before income taxes | 55,036 | 61,459 | 172,382 | 176,159 |
(Benefit from) provision for income taxes | 8,757 | 15,970 | 16,339 | 46,259 |
Net income | 46,279 | 45,489 | 156,043 | 129,900 |
Net gain (loss) attributable to noncontrolling interests | (47) | 129 | (156) | 306 |
Net income attributable to Acadia Healthcare Company, Inc. | 46,232 | 45,618 | 155,887 | 130,206 |
Other comprehensive (loss) income: | ||||
Foreign currency translation (loss) gain | (31,959) | 69,622 | (82,778) | 188,744 |
Gain on derivative instruments, net of tax of $5.6 million | 7,380 | (9,402) | 16,434 | (24,354) |
Other comprehensive (loss) income | (24,579) | 60,220 | (66,344) | 164,390 |
Comprehensive income attributable to Acadia Healthcare Company, Inc. | 21,653 | 105,838 | 89,543 | 294,596 |
Consolidating Adjustments [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Equity in earnings of subsidiaries | (62,854) | (55,925) | (206,204) | (163,931) |
Net income | (62,854) | (55,925) | (206,204) | (163,931) |
Net income attributable to Acadia Healthcare Company, Inc. | (62,854) | (55,925) | (206,204) | (163,931) |
Other comprehensive (loss) income: | ||||
Comprehensive income attributable to Acadia Healthcare Company, Inc. | (62,854) | (55,925) | (206,204) | (163,931) |
Parent [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Salaries, wages and benefits | 5,225 | 4,175 | 19,273 | 19,007 |
Interest expense, net | 17,225 | 15,933 | 47,307 | 46,392 |
Debt extinguishment costs | 940 | 810 | ||
Total expenses | 22,450 | 20,108 | 67,520 | 66,209 |
(Loss) income before income taxes | (22,450) | (20,108) | (67,520) | (66,209) |
Equity in earnings of subsidiaries | 62,854 | 55,925 | 206,204 | 163,931 |
(Benefit from) provision for income taxes | (5,875) | (9,672) | (17,359) | (32,178) |
Net income | 46,279 | 45,489 | 156,043 | 129,900 |
Net income attributable to Acadia Healthcare Company, Inc. | 46,279 | 45,489 | 156,043 | 129,900 |
Other comprehensive (loss) income: | ||||
Gain on derivative instruments, net of tax of $5.6 million | 7,380 | (9,402) | 16,434 | (24,354) |
Other comprehensive (loss) income | 7,380 | (9,402) | 16,434 | (24,354) |
Comprehensive income attributable to Acadia Healthcare Company, Inc. | 53,659 | 36,087 | 172,477 | 105,546 |
Combined Subsidiary Guarantors [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Revenue before provision for doubtful accounts | 440,423 | 1,311,937 | ||
Provision for doubtful accounts | (10,310) | (28,007) | ||
Revenue | 458,061 | 430,113 | 1,347,468 | 1,283,930 |
Salaries, wages and benefits | 245,599 | 225,001 | 724,650 | 675,206 |
Professional fees | 24,152 | 24,385 | 73,100 | 69,796 |
Supplies | 19,139 | 18,843 | 57,143 | 56,502 |
Rents and leases | 8,294 | 8,127 | 24,844 | 25,139 |
Other operating expenses | 57,495 | 55,077 | 168,923 | 164,596 |
Depreciation and amortization | 18,857 | 16,963 | 55,640 | 48,918 |
Interest expense, net | 22,768 | 19,304 | 69,954 | 57,054 |
Transaction-related expenses | 702 | 2,211 | 7,382 | 6,219 |
Total expenses | 397,006 | 369,911 | 1,181,636 | 1,103,430 |
(Loss) income before income taxes | 61,055 | 60,202 | 165,832 | 180,500 |
(Benefit from) provision for income taxes | 11,666 | 21,202 | 22,985 | 66,124 |
Net income | 49,389 | 39,000 | 142,847 | 114,376 |
Net income attributable to Acadia Healthcare Company, Inc. | 49,389 | 39,000 | 142,847 | 114,376 |
Other comprehensive (loss) income: | ||||
Comprehensive income attributable to Acadia Healthcare Company, Inc. | 49,389 | 39,000 | 142,847 | 114,376 |
Combined Non-Guarantors [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Revenue before provision for doubtful accounts | 288,289 | 831,759 | ||
Provision for doubtful accounts | (1,688) | (3,885) | ||
Revenue | 302,855 | 286,601 | 921,427 | 827,874 |
Salaries, wages and benefits | 167,093 | 156,386 | 502,263 | 451,365 |
Professional fees | 35,357 | 28,657 | 93,888 | 72,976 |
Supplies | 10,322 | 9,809 | 31,815 | 28,498 |
Rents and leases | 11,572 | 10,922 | 35,546 | 32,316 |
Other operating expenses | 32,969 | 27,251 | 97,054 | 84,565 |
Depreciation and amortization | 20,802 | 19,479 | 63,720 | 56,338 |
Interest expense, net | 6,658 | 9,278 | 20,445 | 27,331 |
Transaction-related expenses | 1,651 | 3,454 | 2,626 | 12,617 |
Total expenses | 286,424 | 265,236 | 847,357 | 766,006 |
(Loss) income before income taxes | 16,431 | 21,365 | 74,070 | 61,868 |
(Benefit from) provision for income taxes | 2,966 | 4,440 | 10,713 | 12,313 |
Net income | 13,465 | 16,925 | 63,357 | 49,555 |
Net gain (loss) attributable to noncontrolling interests | (47) | 129 | (156) | 306 |
Net income attributable to Acadia Healthcare Company, Inc. | 13,418 | 17,054 | 63,201 | 49,861 |
Other comprehensive (loss) income: | ||||
Foreign currency translation (loss) gain | (31,959) | 69,622 | (82,778) | 188,744 |
Other comprehensive (loss) income | (31,959) | 69,622 | (82,778) | 188,744 |
Comprehensive income attributable to Acadia Healthcare Company, Inc. | $ (18,541) | $ 86,676 | $ (19,577) | $ 238,605 |
Financial Information for the_6
Financial Information for the Company and Its Subsidiaries - Summary of Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Operating activities: | ||||
Net income | $ 46,279 | $ 45,489 | $ 156,043 | $ 129,900 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | ||||
Depreciation and amortization | 39,659 | 36,442 | 119,360 | 105,256 |
Amortization of debt issuance costs | 7,763 | 7,340 | ||
Equity-based compensation expense | 5,225 | 4,175 | 19,273 | 19,007 |
Deferred income taxes | (1,738) | 29,416 | ||
Debt extinguishment costs | 940 | 810 | ||
Other | 3,025 | 10,672 | ||
Change in operating assets and liabilities: | ||||
Accounts receivable, net | (43,252) | (28,681) | ||
Other current assets | 3,021 | 26,099 | ||
Other assets | 3,868 | (566) | ||
Accounts payable and other accrued liabilities | 9,230 | (26,381) | ||
Accrued salaries and benefits | 11,049 | (7,937) | ||
Other liabilities | 149 | 7,677 | ||
Net cash provided by continuing operating activities | 288,731 | 272,612 | ||
Net cash used in discontinued operating activities | (2,548) | (1,261) | ||
Net cash provided by operating activities | 286,183 | 271,351 | ||
Investing activities: | ||||
Cash paid for capital expenditures | (249,989) | (193,817) | ||
Cash paid for real estate acquisitions | (9,391) | (33,297) | ||
Other | (3,114) | (6,062) | ||
Net cash used in investing activities | (262,494) | (233,176) | ||
Financing activities: | ||||
Principal payments on long-term debt | (31,492) | (25,913) | ||
Common stock withheld for minimum statutory taxes, net | (2,272) | (3,278) | ||
Other | (6,973) | 1,649 | ||
Net cash used in financing activities | (40,737) | (27,542) | ||
Effect of exchange rate changes on cash | (1,314) | 7,965 | ||
Net (decrease) increase in cash and cash equivalents | (18,362) | 18,598 | ||
Cash and cash equivalents at beginning of the period | 67,290 | 57,063 | ||
Cash and cash equivalents at end of the period | 48,928 | 75,661 | 48,928 | 75,661 |
Consolidating Adjustments [Member] | ||||
Operating activities: | ||||
Net income | (62,854) | (55,925) | (206,204) | (163,931) |
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | ||||
Equity in earnings of subsidiaries | 62,854 | 55,925 | 206,204 | 163,931 |
Change in operating assets and liabilities: | ||||
Other assets | (4,596) | (3,479) | ||
Net cash provided by continuing operating activities | (4,596) | (3,479) | ||
Net cash provided by operating activities | (4,596) | (3,479) | ||
Financing activities: | ||||
Principal payments on long-term debt | 4,596 | 3,479 | ||
Net cash used in financing activities | 4,596 | 3,479 | ||
Parent [Member] | ||||
Operating activities: | ||||
Net income | 46,279 | 45,489 | 156,043 | 129,900 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | ||||
Equity in earnings of subsidiaries | (62,854) | (55,925) | (206,204) | (163,931) |
Amortization of debt issuance costs | 8,065 | 7,652 | ||
Equity-based compensation expense | 19,273 | 19,007 | ||
Deferred income taxes | 74 | 156 | ||
Debt extinguishment costs | 940 | 810 | ||
Other | 1,948 | 4,216 | ||
Change in operating assets and liabilities: | ||||
Other assets | 4,596 | 3,479 | ||
Net cash provided by continuing operating activities | (15,265) | 1,289 | ||
Net cash provided by operating activities | (15,265) | 1,289 | ||
Financing activities: | ||||
Principal payments on long-term debt | (31,492) | (25,913) | ||
Common stock withheld for minimum statutory taxes, net | (2,272) | (3,278) | ||
Other | (1,742) | |||
Cash provided by (used in) intercompany activity | 50,771 | 27,902 | ||
Net cash used in financing activities | 15,265 | (1,289) | ||
Combined Subsidiary Guarantors [Member] | ||||
Operating activities: | ||||
Net income | 49,389 | 39,000 | 142,847 | 114,376 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | ||||
Depreciation and amortization | 18,857 | 16,963 | 55,640 | 48,918 |
Deferred income taxes | (2,398) | 22,401 | ||
Other | 1,219 | 1,727 | ||
Change in operating assets and liabilities: | ||||
Accounts receivable, net | (39,644) | (21,183) | ||
Other current assets | 7,898 | 1,126 | ||
Other assets | 3,763 | (705) | ||
Accounts payable and other accrued liabilities | 7,835 | (22,372) | ||
Accrued salaries and benefits | 11,100 | (4,759) | ||
Other liabilities | 4,548 | 4,084 | ||
Net cash provided by continuing operating activities | 192,808 | 143,613 | ||
Net cash used in discontinued operating activities | (2,548) | (1,261) | ||
Net cash provided by operating activities | 190,260 | 142,352 | ||
Investing activities: | ||||
Cash paid for capital expenditures | (149,402) | (114,130) | ||
Cash paid for real estate acquisitions | (9,391) | (33,297) | ||
Other | (5,718) | (7,984) | ||
Net cash used in investing activities | (164,511) | (155,411) | ||
Financing activities: | ||||
Principal payments on long-term debt | (169) | |||
Other | (2,885) | 1,649 | ||
Cash provided by (used in) intercompany activity | (37,257) | 39,443 | ||
Net cash used in financing activities | (40,311) | 41,092 | ||
Net (decrease) increase in cash and cash equivalents | (14,562) | 28,033 | ||
Cash and cash equivalents at beginning of the period | 46,860 | 15,681 | ||
Cash and cash equivalents at end of the period | 32,298 | 43,714 | 32,298 | 43,714 |
Combined Non-Guarantors [Member] | ||||
Operating activities: | ||||
Net income | 13,465 | 16,925 | 63,357 | 49,555 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by continuing operating activities: | ||||
Depreciation and amortization | 20,802 | 19,479 | 63,720 | 56,338 |
Amortization of debt issuance costs | (302) | (312) | ||
Deferred income taxes | 586 | 6,859 | ||
Other | (142) | 4,729 | ||
Change in operating assets and liabilities: | ||||
Accounts receivable, net | (3,608) | (7,498) | ||
Other current assets | (4,877) | 24,973 | ||
Other assets | 105 | 139 | ||
Accounts payable and other accrued liabilities | 1,395 | (4,009) | ||
Accrued salaries and benefits | (51) | (3,178) | ||
Other liabilities | (4,399) | 3,593 | ||
Net cash provided by continuing operating activities | 115,784 | 131,189 | ||
Net cash provided by operating activities | 115,784 | 131,189 | ||
Investing activities: | ||||
Cash paid for capital expenditures | (100,587) | (79,687) | ||
Other | 2,604 | 1,922 | ||
Net cash used in investing activities | (97,983) | (77,765) | ||
Financing activities: | ||||
Principal payments on long-term debt | (4,427) | (3,479) | ||
Other | (2,346) | |||
Cash provided by (used in) intercompany activity | (13,514) | (67,345) | ||
Net cash used in financing activities | (20,287) | (70,824) | ||
Effect of exchange rate changes on cash | (1,314) | 7,965 | ||
Net (decrease) increase in cash and cash equivalents | (3,800) | (9,435) | ||
Cash and cash equivalents at beginning of the period | 20,430 | 41,382 | ||
Cash and cash equivalents at end of the period | $ 16,630 | $ 31,947 | $ 16,630 | $ 31,947 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) $ in Millions | Oct. 31, 2018USD ($)Bed | Oct. 23, 2018USD ($)Facility | Oct. 22, 2018 | Sep. 30, 2018Bed | Dec. 31, 2017 |
Subsequent Event [Line Items] | |||||
Number of beds | Bed | 18,000 | ||||
Subsequent Event [Member] | Mission Treatment [Member] | |||||
Subsequent Event [Line Items] | |||||
Business acquisition cash consideration | $ | $ 22.5 | ||||
Subsequent Event [Member] | Mission Treatment [Member] | California, Nevada, Arizona and Oklahoma [Member] | |||||
Subsequent Event [Line Items] | |||||
Number of comprehensive treatment centers operate | Facility | 9 | ||||
Subsequent Event [Member] | Whittier Pavilion [Member] | |||||
Subsequent Event [Line Items] | |||||
Business acquisition cash consideration | $ | $ 17.9 | ||||
Subsequent Event [Member] | Whittier Pavilion [Member] | Massachusetts [Member] | |||||
Subsequent Event [Line Items] | |||||
Number of beds | Bed | 71 | ||||
9.0% Revenue Bonds [Member] | |||||
Subsequent Event [Line Items] | |||||
Debt instrument interest rate | 9.00% | 9.00% | |||
9.0% Revenue Bonds [Member] | Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | |||||
Debt instrument interest rate | 9.00% | ||||
Debt instrument, redemption price percentage of principal amount | 104.00% | ||||
Debt instrument, Redemption date | Dec. 1, 2018 | ||||
9.5% Revenue Bonds [Member] | |||||
Subsequent Event [Line Items] | |||||
Debt instrument interest rate | 9.50% | 9.50% | |||
9.5% Revenue Bonds [Member] | Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | |||||
Debt instrument interest rate | 9.50% | ||||
Debt instrument, redemption price percentage of principal amount | 104.00% | ||||
Debt instrument, Redemption date | Dec. 1, 2018 |