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Business Combinations (Tables) | 6 Months Ended
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Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract] |
Schedule of Assets Acquired and Liabilities Assumed at the Acquisition Date | The fair value of the assets acquired at the acquisition date were as follows (in millions):
Identifiable intangible assets: |
Noncompete agreement (useful life of 3 years) | $ | 0.4 |
Trade name (useful life of 20 years) | 0.3 |
Goodwill | 3.5 |
Other long-term assets | 0.1 |
Total assets acquired | $ | 4.3 |
The preliminary fair value of the assets acquired and liabilities assumed at the acquisition date were as follows (in millions):
Cash and cash equivalents | $ | 0.8 |
Accounts receivable, net | 0.9 |
Prepaid expenses and other current assets | 0.2 |
Property and equipment | 0.1 |
Operating lease right-of-use-assets | 0.9 |
Identifiable intangible assets: |
Noncompete agreement (useful life of 5 years) | 1.7 |
Trade name (useful life of 3 months) | 0.2 |
Certificates of need (useful lives of 10 years) | 3.1 |
Licenses (useful lives of 10 years) | 4.8 |
Goodwill | 90.1 |
Total assets acquired | 102.8 |
Liabilities assumed: |
Current operating lease liabilities | 0.3 |
Accounts payable | 0.2 |
Accrued payroll | 0.8 |
Other current liabilities | 0.7 |
Long-term operating lease liabilities | 0.7 |
Total liabilities assumed | 2.7 |
Noncontrolling interests | 1.6 |
Net assets acquired | $ | 98.5 |
Schedule of Business Acquisitions, by Acquisition | Information regarding the net cash paid for the inpatient rehabilitation acquisitions during each period presented is as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Fair value of assets acquired | $ | 0.8 |  |  | $ | 1.4 |  |  | $ | 0.8 |  |  | $ | 1.7 |
Goodwill | 3.5 |  |  | 6.6 |  |  | 3.5 |  |  | 9.2 |
Fair value of noncontrolling interest owned by joint venture partner | (3.2) |  |  | (8.0) |  |  | (3.2) |  |  | (10.9) |
Net cash paid for acquisitions | $ | 1.1 |  |  | $ | — |  |  | $ | 1.1 |  |  | $ | — |
Information regarding the net cash paid for the home health and hospice acquisitions during each period presented is as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Fair value of assets acquired, net of $0.8 million of cash acquired | $ | 11.9 |  |  | $ | — |  |  | $ | 11.9 |  |  | $ | 0.1 |
Goodwill | 90.1 |  |  | — |  |  | 90.1 |  |  | 1.0 |
Fair value of liabilities assumed | (2.7) |  |  | — |  |  | (2.7) |  |  | — |
Fair value of noncontrolling interest owned by joint venture partner | (1.6) |  |  | — |  |  | (1.6) |  |  | — |
Net cash paid for acquisitions | $ | 97.7 |  |  | $ | — |  |  | $ | 97.7 |  |  | $ | 1.1 |
Summary of Actual and Pro Forma Results of Operations for Acquisitions | The following table summarizes the results of operations of the above mentioned acquisitions from their respective dates of acquisition included in our consolidated results of operations and the unaudited pro forma results of operations of the combined entity had the date of the acquisitions been January 1, 2020 (in millions):
| Net Operating Revenues |  | Net (Loss) Income Attributable to Encompass Health
Acquired entities only: Actual from acquisition date to June 30, 2021 |  |  |
Inpatient Rehabilitation | $ | — |  |  | $ | — |
Home Health and Hospice | 3.2 |  |  | (0.3) |
Combined entity: Supplemental pro forma from 04/01/2021-06/30/2021 | 1,295.0 |  |  | 113.8 |
Combined entity: Supplemental pro forma from 04/01/2020-06/30/2020 | 1,085.2 |  |  | 34.1 |
Combined entity: Supplemental pro forma from 01/01/2021-06/30/2021 | 2,537.2 |  |  | 221.9 |
Combined entity: Supplemental pro forma from 01/01/2020-06/30/2020 | 2,278.2 |  |  | 121.7 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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