Aveanna Healthcare (AVAH) 10-Q 11 May 23 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 01, 2023	May 05, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 01, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-30
Entity Registrant Name	Aveanna Healthcare Holdings Inc.
Entity Central Index Key	0001832332
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		185,859,165
Entity File Number	001-40362
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-4717209
Entity Address, Address Line One	400 Interstate North Parkway SE
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30339
City Area Code	770
Local Phone Number	441-1580
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	AVAH
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 34,433	$ 19,217
Patient accounts receivable	241,832	221,237
Receivables under insured programs	4,802	4,395
Prepaid expenses	16,589	15,089
Other current assets	10,840	9,813
Total current assets	308,496	269,751
Property and equipment, net	21,451	22,752
Operating lease right of use assets	51,679	54,601
Goodwill	1,159,688	1,159,688
Intangible assets, net	97,531	95,863
Receivables under insured programs	24,491	22,865
Other long-term assets	67,559	86,240
Total assets	1,730,895	1,711,760
Current liabilities:
Accounts payable and other accrued liabilities	42,581	44,624
Accrued payroll and employee benefits	62,152	43,836
Current portion of insurance reserves - insured programs	4,802	4,395
Current portion of insurance reserves	28,275	27,531
Securitization obligations	155,000	140,000
Current portion of long-term obligations	9,200	9,200
Current portion of operating lease liabilities	16,110	13,070
Other current liabilities	57,626	43,841
Total current liabilities	375,746	326,497
Long-term obligations, less current portion	1,279,864	1,281,082
Long-term insurance reserves - insured programs	24,491	22,865
Long-term insurance reserves	36,686	35,470
Operating lease liabilities, less current portion	43,087	45,818
Deferred income taxes	4,438	3,844
Other long-term liabilities	314	359
Total liabilities	1,764,626	1,715,935
Commitments and contingencies (Note 10)
Deferred restricted stock units	2,135	2,135
Stockholders' deficit:
Preferred stock, $0.01 par value as of April 1, 2023 and December 31, 2022 5,000,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value, 1,000,000,000 shares authorized;188,859,165 and 188,859,165 issued and outstanding, respectively	1,888	1,888
Additional paid-in capital	1,230,954	1,228,512
Accumulated deficit	(1,268,708)	(1,236,710)
Total stockholders' deficit	(35,866)	(6,310)
Total liabilities, deferred restricted stock units, and stockholders' deficit	$ 1,730,895	$ 1,711,760

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Apr. 01, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	0	0
Preferred stock,outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	1,000,000,000	1,000,000,000
Common stock, issued	188,859,165	188,859,165
Common stock, outstanding	188,859,165	188,859,165

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Income Statement [Abstract]
Revenue	$ 466,413	$ 450,534
Cost of revenue, excluding depreciation and amortization	321,948	305,708
Branch and regional administrative expenses	91,708	88,743
Corporate expenses	30,935	36,567
Depreciation and amortization	4,041	5,819
Acquisition-related costs	70	91
Other operating expense (income)	72	(170)
Operating income	17,639	13,776
Interest income	75	62
Interest expense	(35,958)	(22,364)
Other (expense) income	(12,188)	36,457
(Loss) income before income taxes	(30,432)	27,931
Income tax expense	(1,566)	(2,597)
Net (loss) income	$ (31,998)	$ 25,334
Net (loss) income per share:
Net (loss) income per share, basic	$ (0.17)	$ 0.14
Weighted average shares of common stock outstanding, basic	189,054	184,927
Net (loss) income per share, diluted	$ (0.17)	$ 0.14
Weighted average shares of common stock outstanding, diluted	189,054	185,427

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning Balance at Jan. 01, 2022	$ 635,816	$ 1,847	$ 1,208,645	$ (574,676)
Beginning Balance (shares) at Jan. 01, 2022		184,732,268
Non-cash compensation	4,815		4,815
Net (loss) income	25,334			25,334
Ending Balance at Apr. 02, 2022	665,965	$ 1,847	1,213,460	(549,342)
Ending Balance (in shares) at Apr. 02, 2022		184,732,268
Beginning Balance at Dec. 31, 2022	(6,310)	$ 1,888	1,228,512	(1,236,710)
Beginning Balance (shares) at Dec. 31, 2022		188,859,165
Non-cash compensation	2,442		2,442
Net (loss) income	(31,998)			(31,998)
Ending Balance at Apr. 01, 2023	$ (35,866)	$ 1,888	$ 1,230,954	$ (1,268,708)
Ending Balance (in shares) at Apr. 01, 2023		188,859,165

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Cash Flows From Operating Activities:
Net (loss) income	$ (31,998)	$ 25,334
Adjustments to reconcile net (loss) income to net cash from operating activities:
Depreciation and amortization	4,041	5,819
Amortization of deferred debt issuance costs	1,421	1,740
Amortization and impairment of operating lease right of use assets	4,236	4,193
Non-cash share-based compensation	2,442	4,815
Loss (gain) on disposal or impairment of licenses, property and equipment, and software	68	(282)
Fair value adjustments on interest rate derivatives	18,537	(38,256)
Deferred income taxes	594	1,414
Changes in operating assets and liabilities, net of impact of acquisitions:
Patient accounts receivable	(20,595)	(22,552)
Prepaid expenses	(1,500)	(1,253)
Other current and long-term assets	(4,441)	3,554
Accounts payable and other accrued liabilities	(1,763)	5,199
Accrued payroll and employee benefits	18,316	(1,546)
Insurance reserves	1,960	3,836
Operating lease liabilities	(1,005)	(4,370)
Other current and long-term liabilities	17,182	2,879
Net cash provided by (used in) operating activities	7,495	(9,476)
Cash Flows From Investing Activities:
Acquisitions of businesses, net of cash acquired		(1,394)
Proceeds from sale of businesses		460
Payment for interest rate cap		(11,725)
Purchase of certificates of need	2,678
Purchases of property and equipment, and software	(2,122)	(3,984)
Net cash used in investing activities	(4,800)	(16,643)
Cash Flows From Financing Activities:
Proceeds from securitization obligation	35,000	30,000
Repayment of securitization obligation	(20,000)	(10,000)
Proceeds from revolving credit facility	20,000
Repayments on revolving credit facility	(20,000)
Principal payments on term loans	(2,300)	(2,150)
Principal payments on notes payable	(3,192)	(2,551)
Principal payments on financing lease obligations	(206)	(181)
Settlements with interest rate swap counterparties	3,219	(2,050)
Net cash provided by financing activities	12,521	13,068
Net change in cash and cash equivalents	15,216	(13,051)
Cash and cash equivalents at beginning of period	19,217	30,490
Cash and cash equivalents at end of period	34,433	17,439
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	24,196	16,136
Cash paid for income taxes, net of refunds received	$ (386)	$ (161)

Description of Business

Description of Business	3 Months Ended
	Apr. 01, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. DESCRIPTION OF BUSINESS Aveanna Healthcare Holdings Inc. (together with its consolidated subsidiaries, referred to herein as the “Company”) is headquartered in Atlanta, Georgia and has locations in 33 states with concentrations in California, Texas and Pennsylvania, providing a broad range of pediatric and adult healthcare services including nursing, hospice, rehabilitation services, occupational nursing in schools, therapy services, day treatment centers for medically fragile and chronically ill children and adults, as well as delivery of enteral nutrition and other products to patients. The Company also provides case management services in order to assist families and patients by coordinating the provision of services between insurers or other payers, physicians, hospitals, and other healthcare providers. In addition, the Company provides respite healthcare services, which are temporary care provider services provided in relief of the patient’s normal caregiver. The Company’s services are designed to provide a high quality, lower cost alternative to prolonged hospitalization.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Apr. 01, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The accompanying interim unaudited consolidated financial statements include the accounts of Aveanna Healthcare Holdings Inc. and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in the accompanying interim unaudited consolidated financial statements, and business combinations accounted for as purchases have been included in the accompanying interim unaudited consolidated financial statements from their respective dates of acquisition. Basis of Presentation The accompanying interim consolidated financial statements are unaudited and have been prepared by the Company in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim unaudited consolidated financial statements do not include all the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, these interim unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the Company’s financial position as of April 1, 2023 and the results of operations for the three-month periods ended April 1, 2023 and April 2, 2022, respectively. The results reported in these interim unaudited consolidated financial statements should not be regarded as indicative of results that may be expected for any other period or the entire year. These interim unaudited consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements and related notes for the fiscal year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 16, 2023. Our fiscal year ends on the Saturday that is closest to December 31 of a given year, resulting in either a 52 or 53-week fiscal year. The accompanying interim unaudited consolidated balance sheets reflect the accounts of the Company as of April 1, 2023 and December 31, 2022. For the three-month periods ended April 1, 2023 and April 2, 2022, the accompanying interim unaudited consolidated statements of operations, stockholders’ (deficit) equity and cash flows reflect the accounts of the Company from January 1, 2023 through April 1, 2023 and January 2, 2022 through April 2, 2022 , respectively. Use of Estimates The Company’s accounting and reporting policies conform with U.S. GAAP. In preparing the consolidated financial statements, the Company is required to make estimates and assumptions that impact the amounts reported in these consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This ASU is effective as of March 12, 2020 through December 31, 2024. An entity may adopt this ASU as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020. Additionally, in January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope , to clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. This ASU is effective immediately and should be adopt ed in conjunction with ASU 2020-04. The Company is currently evaluating the impact of adopting these standards.

Revenue

Revenue	3 Months Ended
	Apr. 01, 2023
Revenue from Contract with Customer [Abstract]
Revenue	3. REVENUE The Company evaluates the nature, amount, timing and uncertainty of revenue and cash flows using the five-step process . The Company uses a portfolio approach to group contracts with similar characteristics and analyze historical cash collection trends. Revenue is primarily derived from (i) pediatric healthcare services provided to patients including private duty nursing and therapy services; (ii) adult home health and hospice services (collectively “patient revenue”); and (iii) from the delivery of enteral nutrition and other products to patients (“product revenue”). 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 service provided is its own stand-alone contract. Incremental costs of obtaining a contract are expensed as incurred due to the short-term nature of the contracts. 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. For patient revenue, the performance obligation is satisfied over time as the customer simultaneously receives and consumes the benefits of the healthcare services provided. For product revenue, the performance obligation is satisfied at the point in time of delivery of the product to the patient. The Company recognizes patient revenue equally over the number of treatments provided in a single episode of care. Typically, patients and third-party payers are billed within several days of the service being performed, and payments are due based on contract terms. The Company’s lines of business are generally classified into the following categories: private duty services; home health and hospice; and medical solutions. Private Duty Services (“PDS”). The PDS business includes a broad range of pediatric and adult healthcare services including private duty skilled nursing, non-clinical services which include employer of record support services and personal care services, pediatric therapy services, rehabilitation services, and nursing services in schools and pediatric day healthcare centers. Home Health & Hospice (“HHH”) . The HHH business provides home health, hospice, and personal care services to predominately elderly patients. Medical Solutions (“MS”). The MS business includes the delivery of enteral nutrition and other products to patients. For the PDS, HHH, and MS businesses, the Company receives payments from the following sources for services rendered: (i) state governments under their respective Medicaid programs (“Medicaid”); (ii) Managed Care providers of state government Medicaid programs (“Medicaid MCO”); (iii) commercial insurers; (iv) other government programs including Medicare, Tricare and ChampVA (“Medicare”); and (v) individual patients. As the period between the time of service and time of payment is typically one year or less, the Company 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 and discounts provided to third-party payers and implicit price concessions. Contractual adjustments and discounts are based on contractual agreements and historical experience. Implicit price concessions are based on historical collection experience. As of April 1, 2023 and December 31, 2022, estimated explicit and implicit price concessions of $ 50.3 million and $ 52.6 million, respectively, were recorded as reductions to patient accounts receivable balances to arrive at the estimated collectible revenue and patient accounts receivable. Most contracts contain 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 operating expenses in the consolidated statements of operations. The Company did no t record any bad debt expense for the three-month periods ended April 1, 2023 and April 2, 2022, respectively. The Company derives a significant portion of its revenue from Medicaid, Medicaid MCO, Medicare and other payers that receive discounts from established billing rates. The regulations and various managed care contracts under which these discounts must be estimated are complex and subject to interpretation. Management estimates the transaction price on a payer-specific basis given its interpretation of the applicable regulations or contract terms. Updated regulations and contract negotiations occur frequently, necessitating regular review and assessment of the estimation process by management; however, there were no material revenue adjustments recognized from performance obligations satisfied or partially satisfied in previous periods for the three-month periods ended April 1, 2023 and April 2, 2022, respectively. The following table presents revenue by payer type as a percentage of total revenue for the three-month periods ended April 1, 2023 and April 2, 2022, respectively: For the three-month periods ended April 1, 2023 April 2, 2022 Medicaid MCO 54.6 % 49.5 % Medicaid 22.5 % 22.0 % Commercial 10.2 % 10.1 % Medicare 12.6 % 18.3 % Self-pay 0.1 % 0.1 % Total revenue 100.0 % 100.0 %

Long-Term Obligations

Long-Term Obligations	3 Months Ended
	Apr. 01, 2023
Debt Disclosure [Abstract]
Long-Term Obligations	4. LONG-TERM OBLIGATIONS Long-term obligations consisted of the following as of April 1, 2023 and December 31, 2022, respectively (dollar amounts in thousands): Instrument Stated Contractual Interest Rate Interest Rate April 1, 2023 December 31, 2022 2021 Extended Term Loan (1) 07/2028 L + 3.75 % 8.70 % $ 906,650 $ 908,950 Second Lien Term Loan (1) 12/2029 L + 7.00 % 11.95 % 415,000 415,000 Revolving Credit Facility (1) 04/2026 L + 3.75 % 8.70 % - - Total principal amount of long-term obligations 1,321,650 1,323,950 Less: unamortized debt issuance costs ( 32,586 ) ( 33,668 ) Total amount of long-term obligations, net of unamortized debt issuance costs 1,289,064 1,290,282 Less: current portion of long-term obligations ( 9,200 ) ( 9,200 ) Total amount of long-term obligations, net of unamortized debt issuance costs, less current portion $ 1,279,864 $ 1,281,082 (1) L = Greater of 0.50% or one-month LIBOR The 2021 Extended Term Loan and Revolving Credit Facility bear interest, at the Company’s election, at a variable interest rate based on either LIBOR (subject to a minimum of 0.50 % ), or ABR (subject to a minimum of 2.00 % ) for the interest period relevant to such borrowing, plus an applicable margin of 3.75 % for loans accruing interest based on LIBOR and an applicable margin of 2.75 % for loans accruing interest based on ABR. As of April 1, 2023, the principal amount of the 2021 Extended Term Loan and borrowings under the Revolving Credit Facility accrued interest at a rate of 8.70 % . On March 23, 2023, the Company amended the agreement governing the Revolving Credit Facility to increase the sublimit for letters of credit to $ 40.0 million from $ 30.0 million. The other terms of the Revolving Credit Facility remained unchanged. The Second Lien Term Loan bears interest at a rate per annum equal to, at the Company’s option, either (1) an applicable margin (equal to 6.00 %) plus a base rate determined by reference to the highest of (a) 0.50 % per annum plus the Federal Funds Effective Rate, (b) the Prime Rate and (c) the LIBOR rate determined by reference to the cost of funds for U.S. dollar deposits for an interest period of one month adjusted for certain additional costs, plus 1.00 %; or (2) an applicable margin (equal to 7.00 %) plus LIBOR determined by reference to the cost of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs; provided that such rate is not lower than a floor of 0.50 %. As of April 1, 2023, the principal amount of the Second Lien Term Loan accrued interest at a rate of 11.95 %. Debt issuance costs related to the term loans are recorded as a direct deduction from the carrying amount of the debt. The balance for debt issuance costs related to the term loans as of April 1, 2023 and December 31, 2022 was $ 32.6 million and $ 33.3 million, respectively. Debt issuance costs related to the Revolving Credit Facility are recorded within other long-term assets. The balance for debt issuance costs related to the Revolving Credit Facility as of April 1, 2023 and December 31, 2022 was $ 0.0 million and $ 0.2 million , respectively. The Company recognized interest expense related to the amortization of debt issuance costs of $ 1.4 million and $ 1.7 million during the three-month periods ended April 1, 2023 and April 2, 2022, respectively. Issued letters of credit as of April 1, 2023 and December 31, 2022 were $ 38.0 million and $ 19.7 million, respectively. There were no swingline loans outstanding as of April 1, 2023 or December 31, 2022. Borrowing capacity under the Company's Revolving Credit Facility was approximately $ 162.0 million as of April 1, 2023 and $ 180.3 million as of December 31, 2022. Available borrowing capacity under the Revolving Credit Facility is subject to a maintenance leverage covenant that becomes effective if more than 30 % of the total commitment is utilized . The fair value of the Company's long-term obligations was estimated using market-observable inputs from the Company’s comparable peers with public debt, including quoted prices in active markets, which are considered Level 2 inputs. The aggregate fair value of the Company's long-term obligations was $ 1,023.8 million at April 1, 2023. The Company was in compliance with all financial covenants and restrictions under the foregoing instruments at April 1, 2023 .

Securitization Facility

Securitization Facility	3 Months Ended
	Apr. 01, 2023
Securitization Facility [Abstract]
Securitization Facility	5. SECURITIZATION FACILITY On November 12, 2021, the Company (through a wholly owned special purpose entity, Aveanna SPV I, LLC) (the “special purpose entity”) entered into a Receivables Financing Agreement (as amended, the “Securitization Facility”) with a lending institution with a termination date of November 12, 2024 . The maximum amount available under the Securitization Facility is $ 175.0 million, subject to certain borrowing base requirements. The Company incurred debt issuance costs of $ 1.4 million in connection with the Securitization Facility, which were capitalized and included in other long-term assets. The Company recognized interest expense related to the amortization of debt issuance costs of $ 0.1 million and $ 0.1 million for the three-month periods ended April 1, 2023 and April 2, 2022, respectively. Pursuant to two separate sale agreements dated November 12, 2021, each of which is among Aveanna Healthcare, LLC, as initial servicer, certain of the Company's subsidiaries and the special purpose entity, the subsidiaries sold substantially all of their existing and future accounts receivable balances to the special purpose entity. The special purpose entity uses the accounts receivable balances to collateralize loans made under the Securitization Facility. The Company retains the responsibility of servicing the accounts receivable balances pledged as collateral under the Securitization Facility and provides a performance guaranty. The outstanding balance under the Securitization Facility was $ 155.0 million and $ 140.0 million at April 1, 2023 and December 31, 2022, respectively. The balance accrues interest at a rate tied to the Bloomberg Short-term Bank Yield Index (“BSBY”) plus an applicable margin, which can increase or decrease based upon the Company's credit rating. The interest rate under the Securitization Facility was 7.16 % at April 1, 2023. The Securitization Facility is accounted for as a collateralized financing activity, rather than a sale of assets, and therefore: (i) accounts receivable balances pledged as collateral are presented as assets and the borrowings are presented as liabilities in the accompanying consolidated balance sheets; (ii) the accompanying consolidated statements of operations reflect the interest expense associated with the collateralized borrowings; and (iii) receipts from customers related to the underlying accounts receivable are reflected as operating cash flows and borrowings and repayments under the collateralized loans are reflected as financing cash flows within the accompanying consolidated statements of cash flows. The Securitization Facility is included within current liabilities on the accompanying consolidated balance sheets as it is collateralized by current patient accounts receivable and not because payments are due within one year of the balance sheet date.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 01, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. FAIR VALUE MEASUREMENTS The carrying amounts of cash and cash equivalents, patient accounts receivable, accounts payable, accrued expenses and other current liabilities approximate their fair values due to the short-term maturities of the instruments. The Company’s other assets measured at fair value were as follows (amounts in thousands): Fair Value Measurements at April 1, 2023 Level 1 Level 2 Level 3 Total Assets: Interest rate cap agreements $ - $ 36,423 $ - $ 36,423 Interest rate swap agreements - 26,790 - 26,790 Total derivative assets $ - $ 63,213 $ - $ 63,213 Fair Value Measurements at December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Interest rate cap agreements $ - $ 47,459 $ - $ 47,459 Interest rate swap agreements - 34,291 - 34,291 Total derivative assets $ - $ 81,750 $ - $ 81,750 The fair values of the interest rate swap and cap agreements are based on the estimated net proceeds or costs to settle the transactions as of the respective balance sheet dates. The valuations are based on commercially reasonable industry and market practices for valuing similar financial instruments. See Note 7 – Derivative Financial Instruments for further details on the Company’s interest rate swap and cap agreements.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Apr. 01, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	7. DERIVATIVE FINANCIAL INSTRUMENTS The Company’s earnings and cash flows are subject to fluctuations due to changes in interest rates, and the Company seeks to mitigate a portion of this risk by entering into derivative contracts. The derivatives the Company currently uses are interest rate swaps and interest rate caps. The Company recognizes derivatives as either assets or liabilities at fair value on the accompanying consolidated balance sheets and does not designate the derivatives as hedging instruments. Changes in the fair value of derivatives are therefore recorded in earnings throughout the term of the respective derivatives. The Company currently has two interest rate swap agreements intended to limit its exposure to interest rate risk on its variable rate debt. These swaps expire on June 30, 2026 . Under the swaps, the Company pays a fixed rate of 2.08 % and receives the one-month LIBOR rate, subject to a 0.50 % floor. The aggregate notional amount of the interest rate swaps remained unchanged at $ 520.0 million at April 1, 2023 and December 31, 2022, respectively. The fair value of the interest rate swaps was $ 26.8 million at April 1, 2023 and $ 34.3 million at December 31, 2022 and is included in other long-term assets in the accompanying consolidated balance sheets. The Company does not apply hedge accounting to these agreements and records all mark-to-market adjustments directly to other income in the accompanying consolidated statements of operations, which are included within cash flows from operating activities in the accompanying consolidated statements of cash flows. The net settlements incurred with swap counterparties under the swap agreements are recognized through cash flows from financing activities in the accompanying consolidated statements of cash flows due to an other-than-insignificant financing element on the interest rate swaps. On February 9, 2022, the Company entered into interest rate cap agreements for an aggregate notional amount of $ 880.0 million and a cap rate of 3.00 %. The premium paid for the interest rate cap agreements was $ 11.7 million. The cap agreements have an expiration date of February 28, 2027 , and provide that the counterparty will pay the Company the amount by which LIBOR exceeds 3.00 % in a given measurement period. The fair value of the interest rate cap agreements was $ 36.4 million at April 1, 2023 and $ 47.5 million at December 31, 2022 and is included in other long-term assets on the accompanying consolidated balance sheets. The Company does not apply hedge accounting to interest rate cap agreements and records all mark-to-market adjustments directly to other income in the accompanying consolidated statements of operations, which are included within cash flows from operating activities in the consolidated statement of cash flows. Proceeds from settlements with cap counterparties are included within cash flows from operating activities in the consolidated statement of cash flows. The premium payments on the interest rate caps were recognized through cash flows from investing activities. The following losses and gains from these derivatives not designated as hedging instruments were recognized in the Company’s accompanying consolidated statements of operations for the three-month periods ended April 1, 2023 and April 2, 2022, respectively (amounts in thousands): Statement of Operations For the three-month periods ended Classification April 1, 2023 April 2, 2022 Interest rate cap agreements Other (expense) income $ ( 11,036 ) $ 12,545 Interest rate swap agreements Other (expense) income $ ( 7,501 ) $ 25,711 The Company does not utilize financial instruments for trading or other speculative purposes.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 01, 2023
Income Tax Disclosure [Abstract]
Income Taxes	8. INCOME TAXES The Company’s provision for income taxes is recorded on an interim basis based upon the Company’s estimate of the annual effective income tax rate for the full year applied to “ordinary” income or loss, adjusted each quarter for discrete items. The Company recorded income tax expense of $ 1.6 million and $ 2.6 million for the three-month periods ended April 1, 2023, and April 2, 2022, respectively. The Company’s effective tax rate was - 4.9 % and 8.7 % for the three-month periods ended April 1, 2023 and April 2, 2022, respectively. The effective tax rates for the three-month periods ended April 1, 2023 and April 2, 2022 differ from the statutory rate of 21 % primarily due to the changes in the valuation allowance recorded against certain deferred tax assets, and separate state and local income taxes on taxable subsidiaries. For the three-month period ended April 1, 2023, there were no material changes to the Company's uncertain tax positions. There has been no change to the Company's policy that recognizes potential interest and penalties related to uncertain tax positions in income tax expense in the accompanying consolidated statements of operations.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Apr. 01, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	9. SHARE-BASED COMPENSATION Time-Vesting Options The Company recorded compensation expense, net of forfeitures, of $ 0.2 million and $ 0.4 million for the three-month periods ended April 1, 2023 and April 2, 2022, respectively, which is included in corporate and branch and regional administrative expenses in the accompanying consolidated statements of operations. Unrecognized compensation expense as of April 1, 2023 associated with outstanding performance-vesting options was $ 2.2 mi llion. Performance-Vesting Options The Company recorded compensation expense, net of forfeitures, of ($ 0.4 ) million and $ 1.9 million for the three-month periods ended April 1, 2023 and April 2, 2022 , respectively, which is included in corporate and branch and regional administrative expenses in the accompanying consolidated statements of operations. There is no remaining unrecognized compensation expense associated with performance-vesting options . Director Restricted Stock Units During the three-month period ended April 1, 2023, the Compensation Committee of the Company's Board of Directors approved grants of 634,923 restricted stock units, with a grant date per share fair value of $ 1.26 , to certain independent Directors ("Director RSUs"). Director RSUs vest over a one year period. In connection with such Director RSUs, together with the Director RSUs granted in the prior year, the Company recorded total compensation expense of $ 0.3 million and $ 0.2 million for the three-month periods ended April 1, 2023 and April 2, 2022, respectively, which is included in corporate expenses in the accompanying consolidated statements of operations. Unrecognized compensation expense as of April 1, 2023 associated with outstanding performance-vesting options was $ 0.9 m illion. Management Restricted Stock Units The Company recorded compensation expense, net of forfeitures, of $ 0.7 million and $ 1.0 million for the three-month periods ended April 1, 2023 and April 2, 2022, respectively, which is included in corporate expenses in the accompanying consolidated statements of operations. Unrecognized compensation expense as of April 1, 2023 associated with outstanding management restricted stock units was $ 10.1 mill ion. Employee Stock Purchase Plan Eligible participants contributed $ 0.9 million during the three-month period ended April 1, 2023, which is included in accrued payroll and employee benefits in the accompanying consolidated balance sheets as of April 1, 2023 . The Company recorded compensation expense of $ 0.2 million and $ 0.6 million for the three-month periods ended April 1, 2023 and April 2, 2022, respectively, which is included in corporate expenses, branch and regional administrative expenses and cost of revenue, excluding depreciation and amortization in the accompanying consolidated statements of operations. Unrecognized compensation expense as of April 1, 2023 associated with the remaining ESPP purchase period through June 30, 2022 was $ 0.2 million. Long-Term Incentive Plan ("LTIP") During the three-month period ended April 1, 2023, the Compensation Committee of the Company's Board of Directors approved grants of restricted stock units ("RSUs") and performance stock units ("PSUs") under the Company's 2021 Omnibus Incentive Plan. The RSUs are subject to a three-year service-based cliff vesting schedule commencing on the date of grant. Compensation cost for the RSUs is measured based on the grant date fair value of each share and the number of shares granted and is recognized over the applicable vesting period on a straight-line basis. During the three-month period ended April 1, 2023, the Company granted 4,073,186 RSUs with a grant date per share fair value of $ 1.26 . The Company recorded compensation expense of $ 0.2 million which is included in corporate expenses and branch and regional administrative expenses in the accompanying consolidated statements of operations for the three-month period ended April 1, 2023. Unrecognized compensation expense as of April 1, 2023 associated with the remaining RSUs was $ 4.8 million. The PSUs contain a performance criteria based on an adjusted EBITDA target over a three-year performance period. The PSUs are also subject to a three-year service-based cliff vesting schedule commencing on the date of grant. The PSUs have a service and a performance condition and compensation cost is initially measured based on the grant date fair value of each share. Cumulative compensation cost is subsequently adjusted at the end of each reporting period to reflect the current estimation of achieving the performance condition. During the three-month period ended April 1, 2023, the Company granted 4,073,108 PSUs with a weighted average grant date per share fair value of $ 1.26 . The Company recorded compensation expense of $ 0.2 million which is included in corporate expenses and branch and regional administrative expenses in the accompanying consolidated statements of operations for the three-month period ended April 1, 2023. Unrecognized compensation expense as of April 1, 2023 associated with the remaining PSUs was $ 4.8 million. The Company also granted awards under the LTIP during the three-month period ended April 2, 2022. Compensation expense, net of forfeitures for previously granted awards was $ 1.0 million and $ 0.8 million for the three-month periods ended April 1, 2023 and April 2, 2022, respectively. Unrecognized compensation expense associated with awards previously granted under the LTIP was $ 8.2 million as of April 1, 2023.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. COMMITMENTS AND CONTINGENCIES Insurance Reserves As is typical in the healthcare industry, the Company is subject to claims that its services have resulted in patient injury or other adverse effects. The accrued insurance reserves included in the accompanying consolidated balance sheets include estimates of the ultimate costs, including third-party legal defense costs, in the event the Company was unable to receive funds from claims made under commercial insurance policies, for claims that have been reported but not paid and claims that have been incurred but not reported at the balance sheet dates. Although substantially all reported claims are paid directly by the Company’s commercial insurance carriers (after the Company satisfies the applicable policy deductible and/or retention), the Company is ultimately responsible for payment of these claims in the event its insurance carriers become insolvent or otherwise do not honor the contractual obligations under the malpractice policies. The Company is required under U.S. GAAP to recognize these estimated liabilities in its consolidated financial statements on a gross basis; with a corresponding receivable from the insurance carriers reflecting the contractual indemnity provided by the carriers under the related malpractice policies. Since October 1, 2022, the Company has m aintained primary commercial insurance coverage on a claims-made basis for professional malpractice claims with a $ 1.5 million per claim deductible and $ 5.0 million per claim and annual aggregate limits. Prior to October 1, 2022, the Company maintained primary commercial insurance coverage on a claims made basis for professional malpractice claims with varying deductibles by policy year from $ 0.5 million to $ 1.0 million on a per claim basis and $ 5.5 million to $ 6.0 million per claim and annual aggregate limits. Moreover, the Company maintains excess insurance coverage for professional malpractice claims. In addition, the Company maintains workers’ compensation insurance with a $ 0.5 million per claim deductible and statutory limits. The Company reimburses insurance carriers for deductible losses under these policies. The Company’s insurance carriers require collateral to secure the Company’s obligation to reimburse insurance carriers for these deductible payments. Collateral as of April 1, 2023 was comprised of $ 23.0 million of issued letters of credit and $ 1.9 million in cash collateral. Collateral as of December 31, 2022 was comprised of $ 19.7 million of issued letters of credit, $ 1.9 million in cash collateral, and $ 2.9 million in surety bonds. As of April 1, 2023, insurance reserves totaling $ 94.3 million were included on the accompanying consolidated balance sheets, representing $ 43.8 million and $ 50.5 million of reserves for professional malpractice claims and workers’ compensation claims, respectively. At December 31, 2022, insurance reserves totaling $ 90.3 million were included on the accompanying consolidated balance sheets, representing $ 41.8 million and $ 48.5 million of reserves for professional malpractice claims and workers’ compensation claims, respectively. Litigation and Other Current Liabilities On December 24, 2018, Aveanna Healthcare LLC, an indirect wholly owned subsidiary of the Company, entered into a Stock Purchase Agreement (the “Agreement”) to acquire a pediatric home health company (the “Seller”). The agreement contained a provision whereby a $ 75.0 million transaction termination fee (the “Break-up Fee”) could be payable to the Seller under certain circumstances. On December 20, 2019, Aveanna Healthcare LLC terminated the Agreement, and the Seller demanded payment of the Break-up Fee. The Company believes the Agreement was terminated for cause, no payment of the Break-up Fee is due to the Seller and all potential claims and counterclaims related to the termination of the Agreement and payment of the Break-up Fee by either party are time barred. On August 6, 2020, the Company sued Epic/Freedom, LLC (“Seller”), Webster Capital Corporation, and Webster Equity Partners (collectively, the “Defendants”) in the Delaware Superior Court. The Company asserted that the Defendants made fraudulent representations and warranties in connection with the Epic acquisition. The Company is seeking damages ranging fro m $ 24.0 million to $ 50.0 million. The Company also requested a declaratory judgment holding that the Defendants waived any claim to the Company’s continued possession of $ 7.1 million in escrow funds (the “Escrow Funds”) that were delivered to the Company in January 2018 by the Epic acquisition escrow agent. In response, the Defendants asserted four counterclaims: (1) specific performance of an alleged right to control a tax audit; (2) advancement of litigation fees and expenses for certain individual Defendants; (3) a declaratory judgment; and (4) breach of contract claim concerning the Escrow Funds. The Company subsequently reached an agreement with the Defendants, which (1) allowed the Defendants to take a principal role in the applicable tax audit, though the Company will continue to communicate with the Internal Revenue Service and retain the ability to make strategic decisions with respect to the audit and (2) dismissed claims against certain individual Defendants mooting Defendants’ claims for advancement of litigation fees and expenses. On March 10, 2023, the parties entered into a confidential settlement agreement releasing all claims related to this matter and ending all related litigation. The settlement had no material impact on the consolidated results of operations. See Note 15 - Subsequent Event for additional disclosure. On November 23, 2022, a judgment in the amount of $ 19.8 million was rendered against the Company related to a civil litigation matter in Texas. In March 2023, the plaintiffs attempted to enforce the judgment by seeking a writ of garnishment, and $ 18.4 million was garnished from the Company’s cash accounts. The Company promptly obtained and recorded an $ 18.4 million cash collateralized appellate bond with the state trial court, and such court dissolved the writ of garnishment and ordered the return of the previously garnished funds. All previously garnished funds have been returned to the Company. The Company is vigorously defending this matter, has appealed the judgment to the Texas Court of Appeals, and intends to avail itself of all appellate options. On January 18, 2023, an arbitration award in the amount of $ 7.9 million was rendered against the Company related to a claim under the Company's Texas non-subscriber benefit plan. The Company intends to avail itself of all appellate options. The ultimate resolution of these litigated matters is not expected to have a material impact on the consolidated financial statements. The Company is currently a party to various routine litigation incidental to the business. While management currently believes that the ultimate outcome of such proceedings, individually and in the aggregate, will not have a material adverse effect on the Company’s financial position or overall trends in results of operations, litigation is subject to inherent uncertainties. Management has established provisions within other current liabilities in the accompanying consolidated balance sheets, which in the opinion of management represents the best estimate of exposure and adequately provides for such losses that may occur from asserted claims related to the provision of professional services and which may not be covered by the Company’s insurance policies. Management believes that any additional unfavorable provisions would not be material to the Company’s results of operations or financial position; however, if an unfavorable ruling on any asserted or unasserted claim were to occur, there exists the possibility of a material adverse impact on the Company’s net earnings or financial position. The estimate of the potential impact from legal proceedings on the Company’s financial position or overall results of operations could change in the future. Healthcare Regulatory Matters Starting on October 30, 2019 the Company has received grand jury subpoenas issued by the U.S. Department of Justice, Antitrust Division (the “Antitrust Division”) requiring the production of documents and information pertaining to nurse wages, reimbursement rates, and hiring activities in a few of its local markets. The Company is fully cooperating with the Antitrust Division with respect to this investigation and management believes that it is not probable that this matter will materially impact the Company’s business, results of operations or financial condition. However, based on the information currently available to the Company, management cannot predict the timing or outcome of this investigation or predict the possible loss or range of loss, if any, associated with the resolution of this litigation. Laws and regulations governing the government payer programs are complex and subject to interpretation. Compliance with such laws and regulations can be subject to future governmental review and interpretation as well as significant regulatory action. From time to time, governmental regulatory agencies conduct inquiries and audits of the Company’s practices. It is the Company’s practice to cooperate fully with such inquiries. In addition to laws and regulations governing the Medicaid, Medicaid Managed Care, and Tricare programs, there are a number of federal and state laws and regulations governing matters such as the corporate practice of medicine, fee splitting arrangements, anti-kickback statues, physician self-referral laws, false or fraudulent claims filing and patient privacy requirements. Failure to comply with any such laws or regulations could have an adverse impact on the Company’s operations and financial results. The Company believes that it is in material compliance with all applicable laws and regulations and is not aware of any pending or threatened investigations involving allegations of wrongdoing.

Covid-19

Covid-19	3 Months Ended
	Apr. 01, 2023
Covid19 C A R E S Act [Abstract]
Covid-19	11. COVID-19 In March 2020, the World Health Organization declared COVID-19 a pandemic. The COVID-19 outbreak adversely impacted economic activity and conditions worldwide, including workforces, liquidity, capital markets, consumer behavior, supply chains and macroeconomic conditions. American Rescue Plan Act (“ARPA”): On March 11, 2021 President Biden signed ARPA into law. ARPA is a federal stimulus bill designed to aid public health and economic recovery from the COVID-19 pandemic. ARPA includes $ 350 billion in emergency funding for state, local, territorial and tribal governments, known as the Coronavirus State and Local Fiscal Recovery Funds (“ARPA Recovery Funds”). States must obligate the ARPA Recovery Funds by December 31, 2024 and spend such funds by December 31, 2026. Usage of the ARPA Recovery Funds is subject to the requirements specified in the United States Treasury Department’s Final Rule issued on January 6, 2022 . The Final Rule provides states with substantial flexibility in utilizing ARPA Relief Funds, including the ability to use such funds to support public health expenditures, such as vaccination programs and testing, and PPE purchases, as well as providing premium pay for essential workers, including those in home-care settings, among other things. States may not use ARPA Recovery Funds to fund tax cuts, fund budget deficits, or to support public employee pensions. For the three-month periods ended April 1, 2023 and April 2, 2022, we recognized $ 2.7 million and $ 3.1 million, respectively, of ARPA Recovery Funds from various states in the PDS segment as revenue in our accompanying consolidated statements of operations.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Apr. 01, 2023
Related Party Transactions [Abstract]
Related Party Transactions	12. RELATED PARTY TRANSACTIONS As of April 1, 2023, one of the Company’s stockholders owned 6.7 % of the Company’s 2021 Extended Term Loan.

Segment Information

Segment Information	3 Months Ended
	Apr. 01, 2023
Segment Reporting [Abstract]
Segment Information	13. SEGMENT INFORMATION The Company’s operating segments have been identified based upon how management has organized the business by services provided to customers and how the chief operating decision maker (“CODM”) manages the business and allocates resources. The Company has three operating segments and three reportable segments, Private Duty Services, Home Health & Hospice, and Medical Solutions. The PDS segment predominantly includes private duty skilled nursing services, non-clinical and personal care services, and pediatric therapy services. The HHH segment provides home health and hospice services to predominately elderly patients. Through the MS segment, the Company provides enteral nutrition and other products to adults and children, delivered on a periodic or as-needed basis. The CODM evaluates performance using gross margin (and gross margin percentage). Gross margin includes revenue less all costs of revenue, excluding depreciation and amortization, but excludes branch and regional administrative expenses, corporate expenses and other non-field expenses. The CODM does not evaluate a measure of assets when assessing performance. Results shown for the three-month periods ended April 1, 2023 and April 2, 2022 are not necessarily those which would be achieved if each segment was an unaffiliated business enterprise. There are no intersegment transactions. The following tables summarize the Company’s segment information for the three-month periods ended April 1, 2023 and April 2, 2022, respectively (amounts in thousands): For the three-month period ended April 1, 2023 PDS HHH MS Total Revenue $ 372,947 $ 56,126 $ 37,340 $ 466,413 Cost of revenue, excluding depreciation and amortization 268,763 31,095 22,090 321,948 Gross margin $ 104,184 $ 25,031 $ 15,250 $ 144,465 Gross margin percentage 27.9 % 44.6 % 40.8 % 31.0 % For the three-month period ended April 2, 2022 PDS HHH MS Total Revenue $ 350,190 $ 66,623 $ 33,721 $ 450,534 Cost of revenue, excluding depreciation and amortization 251,874 34,168 $ 19,666 305,708 Gross margin $ 98,316 $ 32,455 $ 14,055 $ 144,826 Gross margin percentage 28.1 % 48.7 % 41.7 % 32.1 % For the three-month periods ended Segment Reconciliation: April 1, 2023 April 2, 2022 Total segment gross margin $ 144,465 $ 144,826 Branch and regional administrative expenses 91,708 88,743 Corporate expenses 30,935 36,567 Depreciation and amortization 4,041 5,819 Acquisition-related costs 70 91 Other operating expense (income) 72 ( 170 ) Operating income 17,639 13,776 Interest income 75 62 Interest expense ( 35,958 ) ( 22,364 ) Other (expense) income ( 12,188 ) 36,457 (Loss) income before income taxes $ ( 30,432 ) $ 27,931

Net (Loss) Income Per Share

Net (Loss) Income Per Share	3 Months Ended
	Apr. 01, 2023
Earnings Per Share [Abstract]
Net (Loss) Income Per Share	14. NET (LOSS) INCOME PER SHARE Basic net (loss) income per share is calculated by dividing net (loss) income by the weighted average number of shares of common stock outstanding for the period. Diluted net (loss) income per share is calculated by dividing net (loss) income by the diluted weighted average number of shares of common stock outstanding for the period. For purposes of this calculation, outstanding stock options are considered potential dilutive shares of common stock. The following is a computation of basic and diluted net (loss) income per share (amounts in thousands, except per share amounts): For the three-month periods ended April 1, 2023 April 2, 2022 Numerator: Net (loss) income $ ( 31,998 ) $ 25,334 Denominator: Weighted average shares of common stock outstanding (1) , basic 189,054 184,927 Net (loss) income per share, basic $ ( 0.17 ) $ 0.14 Weighted average shares of common stock outstanding (1) , diluted 189,054 185,427 Net (loss) income per share, diluted $ ( 0.17 ) $ 0.14 Dilutive securities outstanding not included in the computation of diluted net loss per share as their effect is antidilutive: RSUs 8,570 4,394 PSUs 4,620 1,390 Stock options 14,236 9,347 (1) The calculation of weighted average shares of common stock outstanding includes all vested deferred restricted stock units.

Subsequent Events

Subsequent Events	3 Months Ended
	Apr. 01, 2023
Subsequent Events [Abstract]
Subsequent Events	15. SUBSEQUENT EVENT In April 2023, as part of a confidential settlement with Seller and Defendants (each as defined in Note 10), the Company funded approximately $ 6.8 million to an escrow account for the purposes of settling certain tax audits with the IRS, which are currently under appeal with the IRS. See Note 10 - Commitments and Contingencies for additional disclosure.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 01, 2023
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying interim unaudited consolidated financial statements include the accounts of Aveanna Healthcare Holdings Inc. and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in the accompanying interim unaudited consolidated financial statements, and business combinations accounted for as purchases have been included in the accompanying interim unaudited consolidated financial statements from their respective dates of acquisition.
Basis of Presentation	Basis of Presentation The accompanying interim consolidated financial statements are unaudited and have been prepared by the Company in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim unaudited consolidated financial statements do not include all the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, these interim unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the Company’s financial position as of April 1, 2023 and the results of operations for the three-month periods ended April 1, 2023 and April 2, 2022, respectively. The results reported in these interim unaudited consolidated financial statements should not be regarded as indicative of results that may be expected for any other period or the entire year. These interim unaudited consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements and related notes for the fiscal year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 16, 2023. Our fiscal year ends on the Saturday that is closest to December 31 of a given year, resulting in either a 52 or 53-week fiscal year. The accompanying interim unaudited consolidated balance sheets reflect the accounts of the Company as of April 1, 2023 and December 31, 2022. For the three-month periods ended April 1, 2023 and April 2, 2022, the accompanying interim unaudited consolidated statements of operations, stockholders’ (deficit) equity and cash flows reflect the accounts of the Company from January 1, 2023 through April 1, 2023 and January 2, 2022 through April 2, 2022 , respectively.
Use of Estimates	Use of Estimates The Company’s accounting and reporting policies conform with U.S. GAAP. In preparing the consolidated financial statements, the Company is required to make estimates and assumptions that impact the amounts reported in these consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This ASU is effective as of March 12, 2020 through December 31, 2024. An entity may adopt this ASU as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020. Additionally, in January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope , to clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. This ASU is effective immediately and should be adopt ed in conjunction with ASU 2020-04. The Company is currently evaluating the impact of adopting these standards.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Apr. 01, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Revenue by Payer Type as a Percentage of Revenue	The following table presents revenue by payer type as a percentage of total revenue for the three-month periods ended April 1, 2023 and April 2, 2022, respectively: For the three-month periods ended April 1, 2023 April 2, 2022 Medicaid MCO 54.6 % 49.5 % Medicaid 22.5 % 22.0 % Commercial 10.2 % 10.1 % Medicare 12.6 % 18.3 % Self-pay 0.1 % 0.1 % Total revenue 100.0 % 100.0 %

Long-Term Obligations (Tables)

Long-Term Obligations (Tables)	3 Months Ended
	Apr. 01, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Obligations	Long-term obligations consisted of the following as of April 1, 2023 and December 31, 2022, respectively (dollar amounts in thousands): Instrument Stated Contractual Interest Rate Interest Rate April 1, 2023 December 31, 2022 2021 Extended Term Loan (1) 07/2028 L + 3.75 % 8.70 % $ 906,650 $ 908,950 Second Lien Term Loan (1) 12/2029 L + 7.00 % 11.95 % 415,000 415,000 Revolving Credit Facility (1) 04/2026 L + 3.75 % 8.70 % - - Total principal amount of long-term obligations 1,321,650 1,323,950 Less: unamortized debt issuance costs ( 32,586 ) ( 33,668 ) Total amount of long-term obligations, net of unamortized debt issuance costs 1,289,064 1,290,282 Less: current portion of long-term obligations ( 9,200 ) ( 9,200 ) Total amount of long-term obligations, net of unamortized debt issuance costs, less current portion $ 1,279,864 $ 1,281,082 (1) L = Greater of 0.50% or one-month LIBOR

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 01, 2023
Fair Value Disclosures [Abstract]
Summary of Other Assets and Other Liabilities Measured at Fair Value	The Company’s other assets measured at fair value were as follows (amounts in thousands): Fair Value Measurements at April 1, 2023 Level 1 Level 2 Level 3 Total Assets: Interest rate cap agreements $ - $ 36,423 $ - $ 36,423 Interest rate swap agreements - 26,790 - 26,790 Total derivative assets $ - $ 63,213 $ - $ 63,213 Fair Value Measurements at December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Interest rate cap agreements $ - $ 47,459 $ - $ 47,459 Interest rate swap agreements - 34,291 - 34,291 Total derivative assets $ - $ 81,750 $ - $ 81,750

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Apr. 01, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Losses and Gains from Derivatives	The following losses and gains from these derivatives not designated as hedging instruments were recognized in the Company’s accompanying consolidated statements of operations for the three-month periods ended April 1, 2023 and April 2, 2022, respectively (amounts in thousands): Statement of Operations For the three-month periods ended Classification April 1, 2023 April 2, 2022 Interest rate cap agreements Other (expense) income $ ( 11,036 ) $ 12,545 Interest rate swap agreements Other (expense) income $ ( 7,501 ) $ 25,711

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 01, 2023
Segment Reporting [Abstract]
Summary of Segment Information	The following tables summarize the Company’s segment information for the three-month periods ended April 1, 2023 and April 2, 2022, respectively (amounts in thousands): For the three-month period ended April 1, 2023 PDS HHH MS Total Revenue $ 372,947 $ 56,126 $ 37,340 $ 466,413 Cost of revenue, excluding depreciation and amortization 268,763 31,095 22,090 321,948 Gross margin $ 104,184 $ 25,031 $ 15,250 $ 144,465 Gross margin percentage 27.9 % 44.6 % 40.8 % 31.0 % For the three-month period ended April 2, 2022 PDS HHH MS Total Revenue $ 350,190 $ 66,623 $ 33,721 $ 450,534 Cost of revenue, excluding depreciation and amortization 251,874 34,168 $ 19,666 305,708 Gross margin $ 98,316 $ 32,455 $ 14,055 $ 144,826 Gross margin percentage 28.1 % 48.7 % 41.7 % 32.1 % For the three-month periods ended Segment Reconciliation: April 1, 2023 April 2, 2022 Total segment gross margin $ 144,465 $ 144,826 Branch and regional administrative expenses 91,708 88,743 Corporate expenses 30,935 36,567 Depreciation and amortization 4,041 5,819 Acquisition-related costs 70 91 Other operating expense (income) 72 ( 170 ) Operating income 17,639 13,776 Interest income 75 62 Interest expense ( 35,958 ) ( 22,364 ) Other (expense) income ( 12,188 ) 36,457 (Loss) income before income taxes $ ( 30,432 ) $ 27,931

Net (Loss) Income Per (Tables)

Net (Loss) Income Per (Tables)	3 Months Ended
	Apr. 01, 2023
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net (Loss) Income Per Share	The following is a computation of basic and diluted net (loss) income per share (amounts in thousands, except per share amounts): For the three-month periods ended April 1, 2023 April 2, 2022 Numerator: Net (loss) income $ ( 31,998 ) $ 25,334 Denominator: Weighted average shares of common stock outstanding (1) , basic 189,054 184,927 Net (loss) income per share, basic $ ( 0.17 ) $ 0.14 Weighted average shares of common stock outstanding (1) , diluted 189,054 185,427 Net (loss) income per share, diluted $ ( 0.17 ) $ 0.14 Dilutive securities outstanding not included in the computation of diluted net loss per share as their effect is antidilutive: RSUs 8,570 4,394 PSUs 4,620 1,390 Stock options 14,236 9,347 (1) The calculation of weighted average shares of common stock outstanding includes all vested deferred restricted stock units.

Description of Business - Addit

Description of Business - Additional Information (Details)	Apr. 01, 2023 State
Subsidiary, Sale of Stock [Line Items]
Number of states in which entity locations	33

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($)	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022	Dec. 31, 2022
Revenue Disclosure [Line Items]
Estimated price concession	$ 50,300,000		$ 52,600,000
Bad debt expense	$ 0	$ 0
Maximum
Revenue Disclosure [Line Items]
Revenue, performance obligation, expected timing of satisfaction, period	1 year

Revenue - Schedule of Revenue b

Revenue - Schedule of Revenue by Payer Type as a Percentage of Revenue (Detail) - Customer Concentration Risk - Total revenue	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	100%	100%
Medicaid MCO
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	54.60%	49.50%
Medicaid
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	22.50%	22%
Commercial
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	10.20%	10.10%
Medicare
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	12.60%	18.30%
Self-pay
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	0.10%	0.10%

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 1,159,688		$ 1,159,688
Acquisition-related costs	$ 70	$ 91

Acquisitions - Summary of Preli

Acquisitions - Summary of Preliminary Purchase Price Allocations (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 1,159,688	$ 1,159,688

Long-Term Obligations - Schedul

Long-Term Obligations - Schedule of Long-Term Obligations and Notes Payable (Details) - USD ($) $ in Thousands		3 Months Ended
	Dec. 10, 2021	Apr. 01, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total principal amount of long-term obligations		$ 1,321,650	$ 1,323,950
Less: unamortized debt issuance costs		(32,586)	(33,668)
Total amount of long-term obligations, net of unamortized debt issuance costs		1,289,064	1,290,282
Less: current portion of long-term obligations		(9,200)	(9,200)
Total amount of long-term obligations, net of unamortized debt issuance costs, less current portion		1,279,864	1,281,082
Second Lien Term Loan
Debt Instrument [Line Items]
Total principal amount of long-term obligations		$ 415,000	415,000
Stated Maturity Date		2029-12
Contractual Interest Rate		L + 7.00%
Interest Rate		11.95%
Second Lien Term Loan | LIBOR
Debt Instrument [Line Items]
Interest rate margin on borrowings	7%	7%
2021 Extended Term Loan
Debt Instrument [Line Items]
Total principal amount of long-term obligations		$ 906,650	$ 908,950
Stated Maturity Date		2028-07
Contractual Interest Rate		L + 3.75%
Interest Rate		8.70%
2021 Extended Term Loan | LIBOR
Debt Instrument [Line Items]
Interest rate margin on borrowings		3.75%
Revolving Credit Facility
Debt Instrument [Line Items]
Stated Maturity Date		2026-04
Contractual Interest Rate		L + 3.75%
Interest Rate		8.70%
Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate margin on borrowings		3.75%

Long-Term Obligations - Sched_2

Long-Term Obligations - Schedule of Long-Term Obligations and Notes Payable (Parenthetical) (Details)	3 Months Ended
	Apr. 01, 2023
Second Lien Term Loan
Debt Instrument [Line Items]
Debt instrument, description of contractual interest rate	L = Greater of 0.50% or one-month LIBOR
2021 Extended Term Loan
Debt Instrument [Line Items]
Debt instrument, description of contractual interest rate	L = Greater of 0.50% or one-month LIBOR
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, description of contractual interest rate	L = Greater of 0.50% or one-month LIBOR

Long-Term Obligations - Additio

Long-Term Obligations - Additional Information (Details) - USD ($)			3 Months Ended
	Dec. 10, 2021	Jul. 15, 2021	Apr. 01, 2023	Apr. 02, 2022	Mar. 23, 2023	Mar. 22, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Debt issuance costs			$ 32,586,000				$ 33,668,000
Interest expense related to amortization of debt issuance costs			1,400,000	$ 1,700,000
Fair value of long-term obligations			1,023,800,000
Swingline loans			0				0
Sublimit for letters of credit					$ 30,000,000	$ 40,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			162,000,000				180,300,000
Debt issuance costs			$ 0				200,000
Finance leverage covenant minimum percentage utilization of commitment			30%
Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate margin on borrowings			3.75%
Letter of Credit
Debt Instrument [Line Items]
Issued letter of credit			$ 38,000,000				19,700,000
Term Loan
Debt Instrument [Line Items]
Debt issuance costs			$ 32,600,000				$ 33,300,000
Second Lien Term Loan
Debt Instrument [Line Items]
Debt instrument, interest Rate			11.95%
Debt instrument minimum floor rate percentage	0.50%
Second Lien Term Loan | LIBOR
Debt Instrument [Line Items]
Interest rate margin on borrowings	7%		7%
Second Lien Term Loan | Annual Base Rate
Debt Instrument [Line Items]
Interest rate margin on borrowings	6%
Second Lien Term Loan | Federal Funds Effective Rate
Debt Instrument [Line Items]
Interest rate margin on borrowings	0.50%
Second Lien Term Loan | One Month LIBOR Rate
Debt Instrument [Line Items]
Interest rate margin on borrowings	1%
2021 Extended Term Loan
Debt Instrument [Line Items]
Debt instrument, interest Rate		8.70%
2021 Extended Term Loan | LIBOR
Debt Instrument [Line Items]
Interest rate margin on borrowings			3.75%
2021 Extended Term Loan and Delayed Draw Term Loan Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Debt instruments, variable interest rate		0.50%
2021 Extended Term Loan and Delayed Draw Term Loan Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Interest rate margin on borrowings		3.75%
2021 Extended Term Loan and Delayed Draw Term Loan Facility | Annual Base Rate | Minimum
Debt Instrument [Line Items]
Debt instruments, variable interest rate		2%
Interest rate margin on borrowings		2.75%

Securitization Facility - Addit

Securitization Facility - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Nov. 12, 2021	Apr. 01, 2023	Apr. 02, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Interest expense related to amortization of debt issuance costs		$ 1,400	$ 1,700
Outstanding balance		1,321,650		$ 1,323,950
Securitization Facility
Debt Instrument [Line Items]
Termination date of agreement	Nov. 12, 2024
Maximum amount available under securitization facility	$ 175,000
Debt issuance costs	$ 1,400
Interest expense related to amortization of debt issuance costs		100	$ 100
Outstanding balance		$ 155,000		$ 140,000
Securitization Facility | Bloomberg Short-term Bank Yield Index
Debt Instrument [Line Items]
Interest rate under facility		7.16%

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Other Assets and Other Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Assets:
Total derivative assets	$ 63,213	$ 81,750
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Level 2
Assets:
Total derivative assets	$ 63,213	$ 81,750
Interest Rate Cap Agreements
Assets:
Total derivative assets	36,423	47,459
Interest Rate Cap Agreements | Level 2
Assets:
Total derivative assets	36,423	47,459
Interest Rate Swap Agreements
Assets:
Total derivative assets	26,790	34,291
Interest Rate Swap Agreements | Level 2
Assets:
Total derivative assets	$ 26,790	$ 34,291

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details)		1 Months Ended
	Feb. 09, 2022 USD ($)	Jul. 31, 2021	Apr. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 31, 2018 Swap
Other Long-Term Assets
Derivative [Line Items]
Fair value of interest rate swaps			$ 26,800,000	$ 34,300,000
Amended Interest Rate Swap Agreements
Derivative [Line Items]
Aggregate notional amount			520,000,000	520,000,000
Derivative expiration date		Jun. 30, 2026
Derivative, fixed interest rate		2.08%
Derivative, floor interest rate		0.50%
Interest Rate Swap Agreements
Derivative [Line Items]
Number of interest rate swap agreement | Swap					2
Interest Rate Cap Agreements
Derivative [Line Items]
Aggregate notional amount	$ 880,000,000
Fair value of interest rate swaps			$ 36,400,000	$ 47,500,000
Derivative expiration date	Feb. 28, 2027
Derivative, cap interest rate	3%
One-time premium paid	$ 11,700,000

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Losses and Gains from Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Derivative Instruments Gain Loss [Line Items]
Derivative gain (loss)	$ (18,537)	$ 38,256
Interest Rate Cap Agreements | Not Designated as Hedging Instruments
Derivative Instruments Gain Loss [Line Items]
Derivative gain (loss)	$ (11,036)	$ 12,545
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Interest Rate Swap Agreement | Not Designated as Hedging Instruments
Derivative Instruments Gain Loss [Line Items]
Derivative gain (loss)	$ 7,501	$ 25,711
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 1,566	$ 2,597
Effective tax rate	(4.90%)	8.70%
Statutory tax rate	21%	21%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($)	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Time Vesting Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense, net of forfeitures	$ 200,000	$ 400,000
Unrecognized compensation expense	2,200,000
Performance-Vesting Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense, net of forfeitures	400,000	1,900,000
Unrecognized compensation expense	0
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	900,000
Restricted Stock Units | Director
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense	$ 300,000	200,000
Shares awarded	634,923
Weighted average grant date fair value of options granted	$ 1.26
Vesting period	1 year
Restricted Stock Units | Management
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense	$ 700,000	1,000,000
Unrecognized compensation expense	10,100,000
Long-Term Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense, net of forfeitures	1,000,000	800,000
Unrecognized compensation expense	8,200,000
Long-Term Incentive Plan | Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense	200,000
Unrecognized compensation expense	$ 4,800,000
Shares granted	4,073,186
Fair value of shares granted	$ 1.26
Long-Term Incentive Plan | Performance Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense	$ 200,000
Unrecognized compensation expense	$ 4,800,000
Shares granted	4,073,108
Fair value of shares granted	$ 1.26
Term of award	The PSUs contain a performance criteria based on an adjusted EBITDA target over a three-year performance period. The PSUs are also subject to a three-year service-based cliff vesting schedule commencing on the date of grant.
Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 200,000
Cash contribution to plan	900,000
Employee Stock Purchase Plan | Corporate Expenses and Branch and Regional Administrative Expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense	$ 200,000	$ 600,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)					1 Months Ended	3 Months Ended
	Jan. 18, 2023	Nov. 23, 2022	Oct. 01, 2022	Aug. 06, 2020	Mar. 16, 2023	Apr. 01, 2023	Dec. 31, 2022	Dec. 20, 2019	Dec. 24, 2018
Loss Contingencies [Line Items]
Insurance, per claims deductible			$ 1,500,000
Professional malpractice claims, per claim and annual aggregate limits			$ 5,000,000
Insurance reserves						$ 94,300,000	$ 90,300,000
Provision for transaction termination fee									$ 75,000,000
Break-up fee due to Seller								$ 0
Litigation Settlement, Amount	$ 7,900,000
Escrow funds				$ 7,100,000
Name of defendants						Epic/Freedom, LLC (“Seller”), Webster Capital Corporation, and Webster Equity Partners (collectively, the “Defendants”)
Texas
Loss Contingencies [Line Items]
Litigation Settlement, Amount		$ 19,800,000
Litigation settlement, garnishment of cash					$ 18,400,000
Minimum
Loss Contingencies [Line Items]
Insurance, per claims deductible						$ 500,000
Professional malpractice claims, per claim and annual aggregate limits						5,500,000
Damages sought value				24,000,000
Maximum
Loss Contingencies [Line Items]
Insurance, per claims deductible						1,000,000
Professional malpractice claims, per claim and annual aggregate limits						6,000,000
Damages sought value				$ 50,000,000
Professional Malpractice Claims
Loss Contingencies [Line Items]
Insurance reserves						43,800,000	41,800,000
Surety Bonds
Loss Contingencies [Line Items]
Collaterals							2,900,000
Cash Collateral
Loss Contingencies [Line Items]
Collaterals						1,900,000	1,900,000
Appellate Bond | Texas
Loss Contingencies [Line Items]
Cash collateralized					$ 18,400,000
Letters of Credit
Loss Contingencies [Line Items]
Collaterals						23,000,000	19,700,000
Workers Compensation Insurance
Loss Contingencies [Line Items]
Insurance, per claims deductible						500,000
Insurance reserves						$ 50,500,000	$ 48,500,000

Covid-19 - Additional Informati

Covid-19 - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended
	Mar. 11, 2021	Apr. 01, 2023	Apr. 02, 2022
Covid 19 CARES Act [Line Items]
ARPA Recovery Funds	$ 350,000	$ 2.7	$ 3.1

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details)	Apr. 01, 2023
2021 Extended Term Loan
Related Party Transaction [Line Items]
Shareholders ownership percentage	6.70%

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended
	Apr. 01, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	3
Number of reportable segments	3

Segment Information - Summary o

Segment Information - Summary of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Segment Reporting Information [Line Items]
Revenue	$ 466,413	$ 450,534
Cost of revenue, excluding depreciation and amortization	321,948	305,708
Gross margin	$ 144,465	$ 144,826
Gross margin percentage	31%	32.10%
PDS
Segment Reporting Information [Line Items]
Revenue	$ 372,947	$ 350,190
Cost of revenue, excluding depreciation and amortization	268,763	251,874
Gross margin	$ 104,184	$ 98,316
Gross margin percentage	27.90%	28.10%
HHH
Segment Reporting Information [Line Items]
Revenue	$ 56,126	$ 66,623
Cost of revenue, excluding depreciation and amortization	31,095	34,168
Gross margin	$ 25,031	$ 32,455
Gross margin percentage	44.60%	48.70%
MS
Segment Reporting Information [Line Items]
Revenue	$ 37,340	$ 33,721
Cost of revenue, excluding depreciation and amortization	22,090	19,666
Gross margin	$ 15,250	$ 14,055
Gross margin percentage	40.80%	41.70%

Segment Information - Summary_2

Segment Information - Summary of Segment Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Segment Reconciliation:
Total segment gross margin	$ 144,465	$ 144,826
Branch and regional administrative expenses	91,708	88,743
Corporate expenses	30,935	36,567
Depreciation and amortization	4,041	5,819
Acquisition-related costs	70	91
Other operating expense (income)	72	(170)
Operating income	17,639	13,776
Interest income	75	62
Interest expense	(35,958)	(22,364)
Other (expense) income	(12,188)	36,457
(Loss) income before income taxes	$ (30,432)	$ 27,931

Net (Loss) Income Per Share - S

Net (Loss) Income Per Share - Summary of Computation of Basic and Diluted Net (Loss) Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Numerator:
Net (loss) income	$ (31,998)	$ 25,334
Denominator:
Weighted average shares of common stock outstanding, basic	189,054	184,927
Net (loss) income per share, basic	$ (0.17)	$ 0.14
Weighted average shares of common stock outstanding, diluted	189,054	185,427
Net (loss) income per share, diluted	$ (0.17)	$ 0.14
RSUs
Denominator:
Dilutive securities outstanding not included in the computation of diluted net loss per share as their effect is antidilutive:	8,570	4,394
PSUs
Denominator:
Dilutive securities outstanding not included in the computation of diluted net loss per share as their effect is antidilutive:	4,620	1,390
Stock Options
Denominator:
Dilutive securities outstanding not included in the computation of diluted net loss per share as their effect is antidilutive:	14,236	9,347

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - USD ($) $ in Millions	Apr. 30, 2023	Aug. 06, 2020
Subsequent Event [Line Items]
Escrow funds		$ 7.1
Subsequent Event
Subsequent Event [Line Items]
Escrow funds	$ 6.8