Schedule of Revisions on the Prior Period Financial Statements | The effects of the restatement on the Consolidated Balance Sheet as of December 31, 2022 are summarized in the following table: As of December 31, 2022 As Previously Reported Adjustment As Restated In millions Assets Current assets: Cash and cash equivalents $ 110.1 $ — $ 110.1 Accounts receivable, net of $15.1 million allowance 235.2 — 235.2 Accounts receivable - related party, net of $0.1 million allowance 25.0 — 25.0 Current portion of contract assets, net 83.9 — 83.9 Prepaid expenses and other current assets 110.3 — 110.3 Total current assets 564.5 — 564.5 Property, equipment and software, net 164.8 — 164.8 Operating lease right-of-use assets 80.5 — 80.5 Non-current portion of contract assets, net 32.0 — 32.0 Non-current portion of deferred contract costs 26.7 — 26.7 Intangible assets, net 1,514.5 — 1,514.5 Goodwill 2,658.2 (17.9) 2,640.3 Non-current deferred tax assets 10.4 — 10.4 Other assets 88.2 (0.1) 88.1 Total assets $ 5,139.8 $ (18.0) $ 5,121.8 Liabilities Current liabilities: Accounts payable $ 33.4 $ — $ 33.4 Current portion of customer liabilities 57.5 — 57.5 Current portion of customer liabilities - related party 7.4 — 7.4 Accrued compensation and benefits 109.0 — 109.0 Current portion of operating lease liabilities 18.0 — 18.0 Current portion of long-term debt 53.9 — 53.9 Accrued expenses and other current liabilities 70.6 (0.1) 70.5 Total current liabilities 349.8 (0.1) 349.7 Non-current portion of customer liabilities 5.0 — 5.0 Non-current portion of customer liabilities - related party 13.7 — 13.7 Non-current portion of operating lease liabilities 94.4 — 94.4 Long-term debt 1,732.6 — 1,732.6 Non-current deferred tax liabilities 200.7 0.1 200.8 Other non-current liabilities 23.1 — 23.1 Total liabilities 2,419.3 — 2,419.3 Stockholders’ equity: Common stock, $0.01 par value, 750,000,000 shares authorized, 439,950,125 shares issued and 416,597,885 shares outstanding at December 31, 2022 4.4 — 4.4 Additional paid-in capital 3,123.2 0.1 3,123.3 Accumulated deficit (121.9) (18.1) (140.0) Accumulated other comprehensive loss (3.4) — (3.4) Treasury stock, at cost, 23,352,240 shares as of December 31, 2022 (281.8) — (281.8) Total stockholders’ equity 2,720.5 (18.0) 2,702.5 Total liabilities and stockholders’ equity $ 5,139.8 $ (18.0) $ 5,121.8 The effects of the restatement on the Consolidated Statement of Operations and Comprehensive Loss for the year ended December 31, 2022 are summarized in the following table: For the year ended December 31, 2022 As Previously Reported Adjustment As Restated In millions, except per share data Net services revenue ($881.0 million from related party for the year ended December 31, 2022) $ 1,806.4 $ — $ 1,806.4 Operating expenses: Cost of services 1,445.1 1.8 1,446.9 Selling, general and administrative 174.8 (2.3) 172.5 Other expenses 183.5 6.3 189.8 Total operating expenses 1,803.4 5.8 1,809.2 Income (loss) from operations 3.0 (5.8) (2.8) Net interest expense (64.0) — (64.0) Loss before income tax benefit (61.0) (5.8) (66.8) Income tax benefit (3.4) (0.1) (3.5) Net loss $ (57.6) $ (5.7) $ (63.3) Net loss per common share: Basic $ (0.16) $ (0.02) $ (0.18) Diluted $ (0.16) $ (0.02) $ (0.18) Weighted average shares used in calculating net loss per common share: Basic 352,337,767 — 352,337,767 Diluted 352,337,767 — 352,337,767 Consolidated statements of comprehensive loss Net loss $ (57.6) $ (5.7) $ (63.3) Other comprehensive income (loss): Net change on derivatives designated as cash flow hedges, net of tax 9.2 — 9.2 Foreign currency translation adjustments (7.3) — (7.3) Total other comprehensive income, net of tax $ 1.9 $ — $ 1.9 Comprehensive loss $ (55.7) $ (5.7) $ (61.4) Basic: Net loss $ (57.6) $ (5.7) $ (63.3) Less dividends on preferred shares — — — Less income allocated to preferred shareholders — — — Net loss available/allocated to common shareholders - basic $ (57.6) $ (5.7) $ (63.3) Diluted: Net loss $ (57.6) $ (5.7) $ (63.3) Less dividends on preferred shares — — — Less income allocated to preferred shareholders — — — Net loss available/allocated to common shareholders - diluted $ (57.6) $ (5.7) $ (63.3) The effects of the restatement on the Consolidated Statement of Stockholders’ Equity for the year ended December 31, 2022 are summarized in the following table: Common Stock Treasury Stock Additional Accumulated Accumulated Total Shares Amount Shares Amount As Previously Reported Balance at December 31, 2021 298,320,928 $ 3.0 (20,094,686) $ (215.2) $ 628.5 $ (64.3) $ (5.3) $ 346.7 Share-based compensation expense — — — — 62.3 — — 62.3 CoyCo 2 share-based compensation expense — — — — 5.1 — — 5.1 Issuance of common stock related to share-based compensation plans 2,954,694 — — — — — — — Issuance of common stock 137,389,275 1.4 — — 2,411.4 — — 2,412.8 Replacement awards issued in conjunction with acquisitions — — — — 11.3 — — 11.3 Exercise of vested stock options 1,285,228 — (2,282) (0.1) 4.6 — — 4.5 Acquisition of treasury stock related to share-based compensation plans — — (1,174,754) (27.6) — — — (27.6) Repurchases of common stock — — (2,080,518) (38.9) — — — (38.9) Net change on derivatives designated as cash flow hedges, net of tax of $3.1 million — — — — — — 9.2 9.2 Foreign currency translation adjustment — — — — — — (7.3) (7.3) Net loss — — — — — (57.6) — (57.6) Balance at December 31, 2022 439,950,125 $ 4.4 (23,352,240) $ (281.8) $ 3,123.2 $ (121.9) $ (3.4) $ 2,720.5 Adjustments Beginning balance as of January 1, 2021 — $ — — $ — $ — $ (2.5) $ — $ (2.5) Share-based compensation expense — — — — 2.4 — — 2.4 Net income — — — — — (9.9) — (9.9) Balance at December 31, 2021 (adjustment impacts) — $ — — $ — $ 2.4 $ (12.4) $ — $ (10.0) Share-based compensation expense — — — — (2.3) — — (2.3) Net loss — — — — — (5.7) — (5.7) Balance at December 31, 2022 (adjustment impacts) — $ — — $ — $ 0.1 $ (18.1) $ — $ (18.0) As Restated Balance at December 31, 2021 298,320,928 $ 3.0 (20,094,686) $ (215.2) $ 630.9 $ (76.7) $ (5.3) $ 336.7 Share-based compensation expense — — — — 60.0 — — 60.0 CoyCo 2 share-based compensation expense — — — — 5.1 — — 5.1 Issuance of common stock related to share-based compensation plans 2,954,694 — — — — — — — Issuance of common stock 137,389,275 1.4 — — 2,411.4 — — 2,412.8 Replacement awards issued in conjunction with acquisitions — — — — 11.3 — — 11.3 Exercise of vested stock options 1,285,228 — (2,282) (0.1) 4.6 — — 4.5 Acquisition of treasury stock related to share-based compensation plans — — (1,174,754) (27.6) — — — (27.6) Repurchases of common stock — — (2,080,518) (38.9) — — — (38.9) Net change on derivatives designated as cash flow hedges, net of tax of $3.1 million — — — — — — 9.2 9.2 Foreign currency translation adjustment — — — — — — (7.3) (7.3) Net loss — — — — — (63.3) — (63.3) Balance at December 31, 2022 439,950,125 $ 4.4 (23,352,240) $ (281.8) $ 3,123.3 $ (140.0) $ (3.4) $ 2,702.5 The effects of the restatement on the Consolidated Statement of Cash Flows for the year ended December 31, 2022 are summarized in the following table: For the year ended December 31, 2022 As Previously Reported Adjustment As Restated In millions Operating activities Net loss $ (57.6) $ (5.7) $ (63.3) Adjustments to reconcile net loss to net cash used in operations: Depreciation and amortization 172.0 — 172.0 Amortization of debt issuance costs 3.6 — 3.6 Share-based compensation 62.0 (2.2) 59.8 CoyCo 2 share-based compensation 5.1 — 5.1 Loss on disposal and right-of-use asset write-downs 21.1 — 21.1 Provision for credit losses 11.8 — 11.8 Deferred income taxes (6.8) — (6.8) Non-cash lease expense 14.0 — 14.0 Other 6.5 — 6.5 Changes in operating assets and liabilities: Accounts receivable and related party accounts receivable (51.8) — (51.8) Contract assets (24.1) — (24.1) Prepaid expenses and other assets (39.4) (1.1) (40.5) Accounts payable (16.0) — (16.0) Accrued compensation and benefits (77.7) 8.2 (69.5) Lease liabilities (18.9) — (18.9) Other liabilities (1.5) (0.2) (1.7) Customer liabilities and customer liabilities - related party (12.2) 1.0 (11.2) Net cash used in operating activities (9.9) — (9.9) Investing activities Purchases of property, equipment, and software (93.5) — (93.5) Payment for business acquisitions, net of cash acquired (847.7) — (847.7) Other (8.3) — (8.3) Net cash used in investing activities (949.5) — (949.5) Financing activities Issuance of senior secured debt, net of discount and issuance costs 1,016.6 — 1,016.6 Borrowings on revolver 50.0 — 50.0 Payment of debt issuance costs (1.0) — (1.0) Repayment of senior secured debt (25.5) — (25.5) Repayments on revolver (30.0) — (30.0) Payment of equity issuance costs (2.0) — (2.0) Exercise of vested stock options 4.6 — 4.6 Purchase of treasury stock (39.3) — (39.3) Shares withheld for taxes (30.2) — (30.2) Other (0.2) — (0.2) Net cash provided by financing activities 943.0 — 943.0 Effect of exchange rate changes in cash (3.6) — (3.6) Net decrease in cash, cash equivalents, and restricted cash (20.0) — (20.0) Cash, cash equivalents, and restricted cash at beginning of period 130.1 — 130.1 Cash and cash equivalents, end of year $ 110.1 $ — $ 110.1 Supplemental disclosures of cash flow information Accrued dividends payable to preferred stockholders $ — $ — $ — Property, equipment and software purchases not paid $ 26.9 $ — $ 26.9 Assets obtained in exchange for common stock $ 24.3 $ — $ 24.3 Interest paid $ 61.0 $ — $ 61.0 Income taxes paid $ 8.6 $ — $ 8.6 Income taxes refunded $ — $ — $ — As of and for the year ended December 31, 2021 The effects of the restatement on the Consolidated Balance Sheet as of December 31, 2021 are summarized in the following table: As of December 31, 2021 As Previously Reported Adjustment As Restated In millions Assets Current assets: Cash and cash equivalents $ 130.1 $ — $ 130.1 Accounts receivable, net of $2.4 million allowance 131.3 — 131.3 Accounts receivable - related party, net of $0.1 million allowance 26.1 — 26.1 Prepaid expenses and other current assets 77.2 — 77.2 Total current assets 364.7 — 364.7 Property, equipment and software, net 94.7 — 94.7 Operating lease right-of-use assets 48.9 — 48.9 Non-current portion of deferred contract costs 23.4 — 23.4 Intangible assets, net 265.4 — 265.4 Goodwill 554.7 (10.1) 544.6 Non-current deferred tax assets 51.8 (0.1) 51.7 Other assets 45.7 (1.0) 44.7 Total assets $ 1,449.3 $ (11.2) $ 1,438.1 Liabilities Current liabilities: Accounts payable $ 17.7 $ — $ 17.7 Current portion of customer liabilities 41.5 (1.0) 40.5 Current portion of customer liabilities - related party 7.9 — 7.9 Accrued compensation and benefits 97.0 (0.4) 96.6 Current portion of operating lease liabilities 13.5 — 13.5 Current portion of long-term debt 17.5 — 17.5 Accrued expenses and other current liabilities 59.1 0.2 59.3 Total current liabilities 254.2 (1.2) 253.0 Non-current portion of customer liabilities 3.3 — 3.3 Non-current portion of customer liabilities - related party 15.4 — 15.4 Non-current portion of operating lease liabilities 53.4 — 53.4 Long-term debt 754.9 — 754.9 Non-current deferred tax liabilities 4.2 — 4.2 Other non-current liabilities 17.2 — 17.2 Total liabilities 1,102.6 (1.2) 1,101.4 Stockholders’ equity: Common stock, $0.01 par value, 500,000,000 shares authorized, 298,320,928 shares issued and 278,226,242 shares outstanding at December 31, 2021 3.0 — 3.0 Additional paid-in capital 628.5 2.4 630.9 Accumulated deficit (64.3) (12.4) (76.7) Accumulated other comprehensive loss (5.3) — (5.3) Treasury stock, at cost, 20,094,686 shares as of December 31, 2021 (215.2) — (215.2) Total stockholders’ equity 346.7 (10.0) 336.7 Total liabilities and stockholders’ equity $ 1,449.3 $ (11.2) $ 1,438.1 The effects of the restatement on the Consolidated Statement of Operations and Comprehensive Income for the year ended December 31, 2021 are summarized in the following table: For the year ended December 31, 2021 As Previously Reported Adjustment As Restated In millions, except per share data Net services revenue ($893.5 million from related party for the year ended December 31, 2021) $ 1,474.6 $ — $ 1,474.6 Operating expenses: Cost of services 1,162.8 (1.9) 1,160.9 Selling, general and administrative 120.0 2.0 122.0 Other expenses 46.1 9.4 55.5 Total operating expenses 1,328.9 9.5 1,338.4 Income from operations 145.7 (9.5) 136.2 Net interest expense (18.9) — (18.9) Income before income tax provision 126.8 (9.5) 117.3 Income tax provision 29.6 0.4 30.0 Net income $ 97.2 $ (9.9) $ 87.3 Net loss per common share: Basic $ (1.86) $ (0.04) $ (1.90) Diluted $ (1.86) $ (0.04) $ (1.90) Weighted average shares used in calculating net loss per common share: Basic 266,183,565 — 266,183,565 Diluted 266,183,565 — 266,183,565 Consolidated statements of comprehensive income Net income $ 97.2 $ (9.9) $ 87.3 Other comprehensive income (loss): Net change on derivatives designated as cash flow hedges, net of tax 2.1 — 2.1 Foreign currency translation adjustments (0.9) — (0.9) Total other comprehensive income, net of tax $ 1.2 $ — $ 1.2 Comprehensive income $ 98.4 $ (9.9) $ 88.5 Basic: Net income $ 97.2 $ (9.9) $ 87.3 Less dividends on preferred shares (592.3) — (592.3) Less income allocated to preferred shareholders — — — Net income (loss) available/allocated to common shareholders - basic $ (495.1) $ (9.9) $ (505.0) Diluted: $ — Net income $ 97.2 $ (9.9) $ 87.3 Less dividends on preferred shares (592.3) — (592.3) Less income allocated to preferred shareholders — — — Net income (loss) available/allocated to common shareholders - diluted $ (495.1) $ (9.9) $ (505.0) The effects of the restatement on the Consolidated Statement of Stockholders’ Equity for the year ended December 31, 2021 are summarized in the following table: Common Stock Treasury Stock Additional Accumulated Accumulated Total Shares Amount Shares Amount As Previously Reported Balance at December 31, 2020 137,812,559 $ 1.4 (16,668,521) $ (139.2) $ 393.7 $ (161.5) $ (6.5) $ 87.9 Share-based compensation expense — — — — 74.9 — — 74.9 Issuance of common stock related to share-based compensation plans 2,325,918 — — — — — — — Issuance of common stock 324,212 — — — 7.0 — — 7.0 Exercise of vested stock options 1,819,039 — — — 8.0 — — 8.0 Acquisition of treasury stock related to share-based compensation plans — — (796,908) (19.1) — — — (19.1) Repurchase of common stock — — (2,629,257) (56.9) — — — (56.9) Net change on derivatives designated as cash flow hedges, net of tax of $0.7 million — — — — — — 2.1 2.1 Foreign currency translation adjustment — — — — — — (0.9) (0.9) Conversion of preferred shares 117,706,400 1.2 — — 250.3 — — 251.5 Inducement dividend — — — — (592.3) — — (592.3) Issuance of common stock related to inducement 21,582,800 0.2 — — 487.1 — — 487.3 Exercise of warrants pursuant to cashless provisions 16,750,000 0.2 — — (0.2) — — — Net income — — — — — 97.2 — 97.2 Balance at December 31, 2021 298,320,928 $ 3.0 (20,094,686) $ (215.2) $ 628.5 $ (64.3) $ (5.3) $ 346.7 Adjustments Beginning balance as of January 1, 2020 — $ — — $ — $ — $ (0.6) $ — $ (0.6) Net income — — — — — (1.9) — (1.9) Balance at December 31, 2020 (adjustment impacts) — $ — — $ — $ — $ (2.5) $ — $ (2.5) Share-based compensation expense — — — — 2.4 — — 2.4 Net income — — — — — (9.9) — (9.9) Balance at December 31, 2021 (adjustment impacts) — $ — — $ — $ 2.4 $ (12.4) $ — $ (10.0) As Restated Balance at December 31, 2020 137,812,559 $ 1.4 (16,668,521) $ (139.2) $ 393.7 $ (164.0) $ (6.5) $ 85.4 Share-based compensation expense — — — — 77.3 — — 77.3 Issuance of common stock related to share-based compensation plans 2,325,918 — — — — — — — Issuance of common stock 324,212 — — — 7.0 — — 7.0 Exercise of vested stock options 1,819,039 — — — 8.0 — — 8.0 Acquisition of treasury stock related to share-based compensation plans — — (796,908) (19.1) — — — (19.1) Repurchase of common stock — — (2,629,257) (56.9) — — — (56.9) Net change on derivatives designated as cash flow hedges, net of tax of $0.7 million — — — — — — 2.1 2.1 Foreign currency translation adjustment — — — — — — (0.9) (0.9) Conversion of preferred shares 117,706,400 1.2 — — 250.3 — — 251.5 Inducement dividend — — — — (592.3) — — (592.3) Issuance of common stock related to inducement 21,582,800 0.2 — — 487.1 — — 487.3 Exercise of warrants pursuant to cashless provisions 16,750,000 0.2 — — (0.2) — — — Net income — — — — — 87.3 — 87.3 Balance at December 31, 2021 298,320,928 $ 3.0 (20,094,686) $ (215.2) $ 630.9 $ (76.7) $ (5.3) $ 336.7 The effects of the restatement on the Consolidated Statement of Cash Flows for the year ended December 31, 2021 are summarized in the following table: For the year ended December 31, 2021 As Previously Reported Adjustment As Restated In millions Operating activities Net income $ 97.2 $ (9.9) $ 87.3 Adjustments to reconcile net income to net cash provided by operations: Depreciation and amortization 77.5 — 77.5 Amortization of debt issuance costs 1.2 — 1.2 Share-based compensation 74.3 2.3 76.6 Gain on disposal and right-of-use asset write-downs (0.4) — (0.4) Provision for credit losses 0.7 — 0.7 Deferred income taxes 23.0 0.3 23.3 Non-cash lease expense 9.7 — 9.7 Other (1.9) — (1.9) Changes in operating assets and liabilities: Accounts receivable and related party accounts receivable (33.2) — (33.2) Prepaid expenses and other assets (18.0) 0.2 (17.8) Accounts payable 0.1 — 0.1 Accrued compensation and benefits 42.0 (0.4) 41.6 Lease liabilities (12.7) — (12.7) Other liabilities (13.3) (0.2) (13.5) Customer liabilities and customer liabilities - related party 18.6 (0.6) 18.0 Net cash provided by operating activities 264.8 (8.3) 256.5 Investing activities Purchases of property, equipment, and software (51.7) — (51.7) Payment for business acquisitions, net of cash acquired (294.7) 8.3 (286.4) Other 6.0 — 6.0 Net cash used in investing activities (340.4) 8.3 (332.1) Financing activities Issuance of senior secured debt, net of discount and issuance costs 698.6 — 698.6 Borrowings on revolver 120.0 — 120.0 Payment of debt issuance costs (1.9) — (1.9) Repayment of senior secured debt (488.9) — (488.9) Repayments on revolver (110.0) — (110.0) Payment of contingent consideration liability (4.8) — (4.8) Deferred payment related to acquisition of RevWorks (12.5) — (12.5) Inducement of preferred stock conversion (105.0) — (105.0) Exercise of vested stock options 8.9 — 8.9 Purchase of treasury stock (56.5) — (56.5) Shares withheld for taxes (16.3) — (16.3) Other (0.2) — (0.2) Net cash provided by financing activities 31.4 — 31.4 Effect of exchange rate changes in cash (0.5) — (0.5) Net decrease in cash, cash equivalents, and restricted cash (44.7) — (44.7) Cash, cash equivalents, and restricted cash at beginning of period 174.8 — 174.8 Cash and cash equivalents, end of year $ 130.1 $ — $ 130.1 Supplemental disclosures of cash flow information Accrued dividends payable to preferred stockholders $ — $ — $ — Property, equipment and software purchases not paid $ 19.5 $ — $ 19.5 Assets obtained in exchange for common stock $ 7.0 $ — $ 7.0 Interest paid $ 17.3 $ — $ 17.3 Income taxes paid $ 5.2 $ — $ 5.2 Income taxes refunded $ 0.2 $ — $ 0.2 For the year ended December 31, 2020 The effects of the revision on the Consolidated Statement of Operations and Comprehensive Income for the year ended December 31, 2020 are summarized in the following table: For the year ended December 31, 2020 As Previously Reported Adjustment As Revised In millions, except per share data Net services revenue ($808.8 million from related party for the year ended December 31, 2020) $ 1,270.8 $ (0.7) $ 1,270.1 Operating expenses: Cost of services 1,021.1 — 1,021.1 Selling, general and administrative 102.4 (1.1) 101.3 Other expenses 67.3 2.3 69.6 Total operating expenses 1,190.8 1.2 1,192.0 Income from operations 80.0 (1.9) 78.1 Gain on business disposition 55.7 — 55.7 Net interest expense (17.3) — (17.3) Income before income tax provision 118.4 (1.9) 116.5 Income tax provision 1.3 — 1.3 Net income $ 117.1 $ (1.9) $ 115.2 Net income per common share: Basic $ 0.41 $ (0.01) $ 0.40 Diluted $ 0.33 $ (0.01) $ 0.32 Weighted average shares used in calculating net income per common share: Basic 115,729,645 — 115,729,645 Diluted 174,573,270 — 174,573,270 Consolidated statements of comprehensive income Net income $ 117.1 $ (1.9) $ 115.2 Other comprehensive loss: Net change on derivatives designated as cash flow hedges, net of tax (1.7) — (1.7) Foreign currency translation adjustments (0.3) — (0.3) Total other comprehensive loss, net of tax $ (2.0) $ — $ (2.0) Comprehensive income $ 115.1 $ (1.9) $ 113.2 Basic: Net income $ 117.1 $ (1.9) $ 115.2 Less dividends on preferred shares (22.4) — (22.4) Less income allocated to preferred shareholders (47.3) 1.0 (46.3) Net income available/allocated to common shareholders - basic $ 47.4 $ (0.9) $ 46.5 Diluted: Net income $ 117.1 $ (1.9) $ 115.2 Less dividends on preferred shares (22.4) — (22.4) Less income allocated to preferred shareholders (37.7) 0.8 (36.9) Net income available/allocated to common shareholders - diluted $ 57.0 $ (1.1) $ 55.9 The effects of the revision on the Consolidated Statement of Stockholders’ Equity for the year ended December 31, 2020 are summarized in the following table: Common Stock Treasury Stock Additional Accumulated Accumulated Total Shares Amount Shares Amount As Previously Reported Balance at January 1, 2020 127,807,546 $ 1.3 (13,786,266) $ (73.6) $ 372.7 $ (277.8) (1) $ (4.5) $ 18.1 Impact of credit-loss — — — — — (0.8) — (0.8) Adjusted balance at January 1, 2020 127,807,546 1.3 (13,786,266) (73.6) 372.7 (278.6) (4.5) 17.3 Share-based compensation expense — — — — 24.2 — — 24.2 Issuance of common stock and stock warrants 6,848,859 0.1 — — (0.1) — — — Exercise of vested stock options 3,156,154 — — — 19.3 — — 19.3 Dividends paid/accrued on preferred stock — — — — (22.4) — — (22.4) Acquisition of treasury stock related to share-based compensation plans — — (2,882,255) (65.6) — — — (65.6) Net change on derivatives designated as cash flow hedges, net of tax of $0.6 million — — — — — — (1.7) (1.7) Foreign currency translation adjustments — — — — — — (0.3) (0.3) Net income — — — — — 117.1 — 117.1 Balance at December 31, 2020 137,812,559 $ 1.4 (16,668,521) $ (139.2) $ 393.7 $ (161.5) $ (6.5) $ 87.9 Adjustments Beginning balance as of January 1, 2020 — $ — — $ — $ — $ (0.6) (1) $ — $ (0.6) Net income — — — — — (1.9) — (1.9) Balance at December 31, 2020 (adjustment impacts) — $ — — $ — $ — $ (2.5) $ — $ (2.5) As Revised Balance at January 1, 2020 127,807,546 $ 1.3 (13,786,266) $ (73.6) $ 372.7 $ (278.4) $ (4.5) $ 17.5 Impact of credit-loss — — — — — (0.8) — (0.8) Adjusted balance at January 1, 2020 127,807,546 1.3 (13,786,266) (73.6) 372.7 (279.2) (4.5) 16.7 Share-based compensation expense — — — — 24.2 — — 24.2 Issuance of common stock and stock warrants 6,848,859 0.1 — — (0.1) — — — Exercise of vested stock options 3,156,154 — — — 19.3 — — 19.3 Dividends paid/accrued on preferred stock — — — — (22.4) — — (22.4) Acquisition of treasury stock related to share-based compensation plans — — (2,882,255) (65.6) — — — (65.6) Net change on derivatives designated as cash flow hedges, net of tax of $0.6 million — — — — — — (1.7) (1.7) Foreign currency translation adjustments — — — — — — (0.3) (0.3) Net income — — — — — 115.2 — 115.2 Balance at December 31, 2020 137,812,559 $ 1.4 (16,668,521) $ (139.2) $ 393.7 $ (164.0) $ (6.5) $ 85.4 (1) Immaterial adjustment of $0.6 million to beginning balance as of January 1, 2020. The effects of the revision on the Consolidated Statement of Cash Flows for the year ended December 31, 2020 are summarized in the following table For the year ended December 31, 2020 As Previously Reported Adjustment As Revised In millions Operating activities Net income $ 117.1 $ (1.9) $ 115.2 Adjustments to reconcile net income to net cash provided by operations: Depreciation and amortization 68.7 — 68.7 Amortization of debt issuance costs 1.0 — 1.0 Share-based compensation 24.1 — 24.1 Gain on sale of Emergency Medical Services business (55.7) — (55.7) Loss on disposal and right-of-use asset write-downs 17.0 — 17.0 Provision for credit losses 0.6 — 0.6 Deferred income taxes (1.2) (0.1) (1.3) Non-cash lease expense 7.3 — 7.3 Other 4.7 — 4.7 Changes in operating assets and liabilities: Accounts receivable and related party accounts receivable (56.5) 0.7 (55.8) Prepaid expenses and other assets (12.9) (0.1) (13.0) Accounts payable (3.4) — (3.4) Accrued compensation and benefits (40.3) — (40.3) Lease liabilities (13.6) — (13.6) Other liabilities 25.3 (0.1) 25.2 Customer liabilities and customer liabilities - related party (20.4) (0.4) (20.8) Net cash provided by operating activities 61.8 (1.9) 59.9 Investing activities Purchases of property, equipment, and software (49.3) — (49.3) Payment for business acquisitions, net of cash acquired (196.0) 1.9 (194.1) Proceeds from sale of Emergency Medical Services business, net of cash disposed 128.3 — 128.3 Net cash used in investing activities (117.0) 1.9 (115.1) Financing activities Issuance of senior secured debt, net of discount and issuance costs 190.6 — 190.6 Borrowings on revolver 50.0 — 50.0 Repayment of senior secured debt (23.4) — (23.4) Repayments on revolver (20.0) — (20.0) Exercise of vested stock options 18.4 — 18.4 Shares withheld for taxes (71.9) — (71.9) Other (5.8) — (5.8) Net cash provided by financing activities 137.9 — 137.9 Effect of exchange rate changes in cash (0.4) — (0.4) Net increase in cash, cash equivalents, and restricted cash 82.3 — 82.3 Cash, cash equivalents, and restricted cash at beginning of period 92.5 — 92.5 Cash and cash equivalents, end of year $ 174.8 $ — $ 174.8 Supplemental disclosures of cash flow information Accrued dividends payable to preferred stockholders $ 5.8 $ — $ 5.8 Property, equipment and software purchases not paid $ 11.0 $ — $ 11.0 Assets obtained in exchange for common stock $ — $ — $ — Interest paid $ 15.8 $ — $ 15.8 Income taxes paid $ 4.2 $ — $ 4.2 Income taxes refunded $ 0.4 $ — $ 0.4 The effects of the restatement on the Consolidated Balance Sheet as of March 31, 2021 are summarized in the following table: As of March 31, 2021 As Previously Reported Adjustment As Restated In millions Assets Current assets: Cash and cash equivalents $ 103.5 $ — $ 103.5 Accounts receivable, net of $3.8 million allowance 97.6 — 97.6 Accounts receivable - related party, net of $0.1 million allowance 31.8 — 31.8 Prepaid expenses and other current assets 65.7 — 65.7 Total current assets 298.6 — 298.6 Property, equipment and software, net 89.0 (0.8) 88.2 Operating lease right-of-use assets 59.8 — 59.8 Intangible assets, net 166.7 — 166.7 Goodwill 375.5 (1.8) 373.7 Non-current deferred tax assets 68.5 0.4 68.9 Non-current portion of restricted cash equivalents 0.5 — 0.5 Other assets 75.9 (0.6) 75.3 Total assets $ 1,134.5 $ (2.8) $ 1,131.7 Liabilities Current liabilities: Accounts payable $ 22.8 $ — $ 22.8 Current portion of customer liabilities 23.0 0.1 23.1 Current portion of customer liabilities - related party 10.6 — 10.6 Accrued compensation and benefits 61.2 — 61.2 Current portion of operating lease liabilities 11.8 — 11.8 Current portion of long-term debt 35.5 — 35.5 Accrued expenses and other current liabilities 56.6 — 56.6 Total current liabilities 221.5 0.1 221.6 Non-current portion of customer liabilities - related party 15.4 — 15.4 Non-current portion of operating lease liabilities 68.7 — 68.7 Long-term debt 510.2 — 510.2 Other non-current liabilities 35.1 — 35.1 Total liabilities 850.9 0.1 851.0 Stockholders’ equity: Common stock, $0.01 par value, 500,000,000 shares authorized, 277,972,263 shares issued and 261,301,541 shares outstanding at March 31, 2021 2.8 — 2.8 Additional paid-in capital 562.1 2.4 564.5 Accumulated deficit (135.7) (5.3) (141.0) Accumulated other comprehensive loss (6.4) — (6.4) Treasury stock, at cost, 16,670,722 shares as of March 31, 2021 (139.2) — (139.2) Total stockholders’ equity 283.6 (2.9) 280.7 Total liabilities and stockholders’ equity $ 1,134.5 $ (2.8) $ 1,131.7 The effects of the restatement on the Consolidated Statement of Operations and Comprehensive Income for the three months ended March 31, 2021 are summarized in the following table: For the three months ended March 31, 2021 As Previously Reported Adjustment As Restated In millions, except per share data Net services revenue ($215.5 million for the three months ended March 31, 2021 from related party) $ 342.6 $ — $ 342.6 Operating expenses: Cost of services 267.2 (0.2) 267.0 Selling, general and administrative 25.6 2.3 27.9 Other expenses 13.0 0.9 13.9 Total operating expenses 305.8 3.0 308.8 Income from operations 36.8 (3.0) 33.8 Net interest expense 3.9 — 3.9 Income before income tax provision 32.9 (3.0) 29.9 Income tax provision 7.1 (0.2) 6.9 Net income $ 25.8 $ (2.8) $ 23.0 Net loss per common share: Basic $ (2.37) $ (0.01) $ (2.38) Diluted $ (2.37) $ (0.01) $ (2.38) Weighted average shares used in calculating net loss per common share: Basic 239,290,145 — 239,290,145 Diluted 239,290,145 — 239,290,145 Consolidated statements of comprehensive income Net income $ 25.8 $ (2.8) $ 23.0 Other comprehensive income (loss): Net change on derivatives designated as cash flow hedges, net of tax 0.5 — 0.5 Foreign currency translation adjustments (0.4) — (0.4) Total other comprehensive income, net of tax $ 0.1 $ — $ 0.1 Comprehensive income $ 25.9 $ (2.8) $ 23.1 Basic: Net income $ 25.8 $ (2.8) $ 23.0 Less dividends on preferred shares (592.3) — (592.3) Less income allocated to preferred shareholders — — — Net income (loss) available/allocated to common shareholders - basic $ (566.5) $ (2.8) $ (569.3) Diluted: Net income $ 25.8 $ (2.8) $ 23.0 Less dividends on preferred shares (592.3) — (592.3) Less income allocated to preferred shareholders — — — Net income (loss) available/allocated to common shareholders - diluted $ (566.5) $ (2.8) $ (569.3) The effects of the restatement on the Consolidated Statement of Cash Flows for the three months ended March 31, 2021 are summarized in the following table: For the three months ended March 31, 2021 As Previously Reported Adjustment As Restated In millions Operating activities Net income $ 25.8 $ (2.8) $ 23.0 Adjustments to reconcile net income to net cash provided by operations: Depreciation and amortization 17.9 — 17.9 Amortization of debt issuance costs 0.3 — 0.3 Share-based compensation 12.7 2.4 15.1 Loss on disposal and right-of-use asset write-downs 0.6 — 0.6 Provision for credit losses 0.1 — 0.1 Deferred income taxes 4.9 (0.2) 4.7 Non-cash lease expense 2.9 — 2.9 Change in value of contingent consideration 0.5 — 0.5 Other — 0.8 0.8 Changes in operating assets and liabilities: Accounts receivable and related party accounts receivable (7.3) — (7.3) Prepaid expenses and other assets (19.4) (0.2) (19.6) Accounts payable 5.2 — 5.2 Accrued compensation and benefits 9.4 — 9.4 Lease liabilities (4.1) — (4.1) Other liabilities (4.2) (0.4) (4.6) Customer liabilities and customer liabilities - related party 0.7 0.4 1.1 Net cash provided by operating activities 46.0 — 46.0 Investing activities Purchases of property, equipment, and software (9.6) — (9.6) Net cash used in investing activities (9.6) — (9.6) Financing activities Repayment of senior secured debt (6.5) — (6.5) Inducement of preferred stock conversion (105.0) — (105.0) Exercise of vested stock options 4.4 — 4.4 Net cash used in financing activities (107.1) — (107.1) Effect of exchange rate changes in cash (0.1) — (0.1) Net decrease in cash, cash equivalents, and restricted cash (70.8) — (70.8) Cash, cash equivalents, and restricted cash at beginning of period 174.8 — 174.8 Cash and cash equivalents, end of year $ 104.0 $ — $ 104.0 Supplemental disclosures of cash flow information Property, equipment and software purchases not paid $ 10.3 $ — $ 10.3 As of and for the three and six months ended June 30, 2021 The effects of the restatement on the Consolidated Balance Sheet as of June 30, 2021 are summarized in the following table: As of June 30, 2021 As Previously Reported Adjustment As Restated In millions Assets Current assets: Cash and cash equivalents $ 164.9 $ — $ 164.9 Accounts receivable, net of $2.2 million allowance 96.8 — 96.8 Accounts receivable - related party, net of $0.1 million allowance 31.9 — 31.9 Prepaid expenses and other current assets 59.7 0.1 59.8 Total current assets 353.3 0.1 353.4 Property, equipment and software, net 89.8 — 89.8 Operating lease right-of-use assets 56.5 — 56.5 Intangible assets, net 162.2 — 162.2 Goodwill 375.5 (1.8) 373.7 Non-current deferred tax assets 62.6 (0.1) 62.5 Non-current portion of restricted cash equivalents 0.5 — 0.5 Other assets 77.4 |