Item 2.02 Results of Operations and Financial Condition.
On
Certain information contained in the Earnings Release refers to non-GAAP financial measures and other definitions specific to Genesis' businesses. For an explanation of the adjustments and a description of Genesis' uses of, and the limitations associated with, non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDAR, EBITDA and EBITDAR (each as defined below), see "Reasons for Non-GAAP Financial Disclosure" in the Earnings Release.
The following is a glossary of terms for some key performance and valuation indicators and non-GAAP measures used in reference to Genesis:
"Actual
"Adjusted EBITDA" is defined as EBITDA adjusted for certain excluded items to provide a supplemental performance measure.
"Adjusted EBITDAR" is defined as EBITDAR adjusted for certain excluded items to provide a supplemental valuation measure.
"Available
"Average Daily Census" or "ADC" is the number of residents occupying a bed (or units in the case of an assisted/senior living center) over a period of time, divided by the number of calendar days in that period.
"EBITDAR" is defined as net income or loss attributed to
"EBITDA" is defined as EBITDAR less lease expense.
"Insurance" refers collectively to commercial insurance and managed care payor sources, including Medicare Advantage beneficiaries, but does not include managed care payors serving Medicaid residents, which are included in the Medicaid category.
"Occupancy Percentage" is measured as the percentage of Actual
"Skilled Mix" refers collectively to Medicare and Insurance payor sources.
"Therapist Efficiency" is computed by dividing billable labor minutes related to patient care and customer value added services by total labor minutes for the period.
This information and the information contained in the press release shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K is not incorporated by reference into any filings of the Company made under the Securities Act of 1933, as amended, whether made before or after the date of this Current Report on Form 8-K, regardless of any general incorporation language in the filing, unless specifically stated so therein.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit Description 99.1 Earnings Release datedAugust 10, 2020 2
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