Exhibit 99.2
Financial Information of Consolidated Subsidiary
Change Healthcare LLC
EXPLANATORY NOTE
During the first quarter of fiscal year 2021, the Company decided to allocate all administrative and certain other corporate expenses to the respective reportable segments. This allocation methodology differs from the methodology utilized by the Joint Venture in prior fiscal years. The financial results of the Joint Venture’s reportable segments were presented for periods prior to the Merger in the notes to the Change Healthcare LLC financial statements that were included as an exhibit the Company’s financial statements. Therefore, the adjusted EBITDA of the Joint Venture’s reportable segments has been retrospectively adjusted for those periods to be consistent with the Company’s current allocation methodology as presented in the tables below.
SEGMENT ADJUSTED EBITDA
(unaudited, amounts in thousands)
Software and Analytics | Network Solutions | Technology- Enabled Services | Postage and Eliminations | Total | ||||||||||||||||
Fiscal Year 2020: | ||||||||||||||||||||
First Quarter | $ | 176,501 | $ | 79,222 | $ | 25,333 | $ | — | $ | 281,056 | ||||||||||
Second Quarter | 110,993 | 79,526 | 27,174 | — | 217,693 | |||||||||||||||
Third Quarter | 127,793 | 87,571 | 17,262 | — | 232,626 | |||||||||||||||
Fourth Quarter | 150,341 | 85,340 | 28,677 | — | 264,358 | |||||||||||||||
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Total | $ | 565,629 | $ | 331,659 | $ | 98,445 | $ | — | $ | 995,733 | ||||||||||
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Fiscal Year 2019: | ||||||||||||||||||||
First Quarter | $ | 121,098 | $ | 76,852 | $ | 29,798 | $ | — | $ | 227,749 | ||||||||||
Second Quarter | 117,132 | 78,775 | 20,045 | — | 215,952 | |||||||||||||||
Third Quarter | 126,416 | 83,367 | 24,294 | — | 234,077 | |||||||||||||||
Fourth Quarter | 154,434 | 78,191 | 24,556 | — | 257,180 | |||||||||||||||
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Total | $ | 519,081 | $ | 317,185 | $ | 98,693 | $ | — | $ | 934,958 | ||||||||||
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