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Earnings per Common Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings per Common Share | Earnings per Common Share: The following table sets forth the computation of basic and diluted earnings per common share (in millions, except per share amounts):
| For the Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Basic: |  |  |  |  |
Numerator: |  |  |  |  |
Income from continuing operations | $ | 599.4 |  |  | $ | 475.0 |  |  | $ | 350.7 |
Less: Net income attributable to noncontrolling interests included in continuing operations | (140.9) |  |  | (111.0) |  |  | (93.6) |
Less: Income from continuing operations allocated to participating securities | (2.8) |  |  | (2.4) |  |  | (1.1) |
Income from continuing operations attributable to Encompass Health common shareholders | 455.7 |  |  | 361.6 |  |  | 256.0 |
(Loss) income from discontinued operations, net of tax | (2.8) |  |  | (12.0) |  |  | 15.2 |
Less: Net income attributable to noncontrolling interests included in discontinued operations | — |  |  | — |  |  | (1.3) |
Less: Income from discontinued operations allocated to participating securities | — |  |  | — |  |  | (0.1) |
(Loss) income from discontinued operations attributable to Encompass Health common shareholders | (2.8) |  |  | (12.0) |  |  | 13.8 |
Net income attributable to Encompass Health common shareholders | $ | 452.9 |  |  | $ | 349.6 |  |  | $ | 269.8 |
Denominator: |  |  |  |  |
Basic weighted average common shares outstanding | 99.9 |  |  | 99.5 |  |  | 99.2 |
Basic earnings per share attributable to Encompass Health common shareholders: |  |  |  |  |
Continuing operations | $ | 4.56 |  |  | $ | 3.63 |  |  | $ | 2.58 |
Discontinued operations | (0.03) |  |  | (0.12) |  |  | 0.14 |
Net income | $ | 4.53 |  |  | $ | 3.51 |  |  | $ | 2.72 |
Diluted: |  |  |  |  |
Numerator: |  |  |  |  |
Income from continuing operations | $ | 599.4 |  |  | $ | 475.0 |  |  | $ | 350.7 |
Less: Net income attributable to noncontrolling interests included in continuing operations | (140.9) |  |  | (111.0) |  |  | (93.6) |
Income from continuing operations attributable to Encompass Health common shareholders | 458.5 |  |  | 364.0 |  |  | 257.1 |
(Loss) income from discontinued operations, net of tax | (2.8) |  |  | (12.0) |  |  | 15.2 |
Less: Net income attributable to noncontrolling interests included in discontinued operations | — |  |  | — |  |  | (1.3) |
(Loss) income from discontinued operations attributable to Encompass Health common shareholders | (2.8) |  |  | (12.0) |  |  | 13.9 |
Net income attributable to Encompass Health common shareholders | $ | 455.7 |  |  | $ | 352.0 |  |  | $ | 271.0 |
Denominator: |  |  |  |  |
Diluted weighted average common shares outstanding | 102.2 |  |  | 101.3 |  |  | 100.4 |
Diluted earnings per share attributable to Encompass Health common shareholders: |  |  |  |  |
Continuing operations | $ | 4.49 |  |  | $ | 3.59 |  |  | $ | 2.56 |
Discontinued operations | (0.03) |  |  | (0.12) |  |  | 0.14 |
Net income | $ | 4.46 |  |  | $ | 3.47 |  |  | $ | 2.70 |
The following table sets forth the reconciliation between basic weighted average common shares outstanding and diluted weighted average common shares outstanding (in millions):
| For the Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Basic weighted average common shares outstanding | 99.9 |  |  | 99.5 |  |  | 99.2 |
Restricted stock awards, dilutive stock options, and restricted stock units | 2.3 |  |  | 1.8 |  |  | 1.2 |
Diluted weighted average common shares outstanding | 102.2 |  |  | 101.3 |  |  | 100.4 |
Options to purchase shares of common stock outstanding during December 31, 2024 were immaterial. Options to purchase approximately 0.3 million and 0.4 million shares of common stock were outstanding during December 31, 2023 and 2022, respectively, but were not included in the computation of diluted weighted-average shares because to do so would have been antidilutive. On October 28, 2013, we announced our board of directors authorized the repurchase of up to $200 million of our common stock, which has been amended from time to time. Most recently, on July 24, 2024, our board of directors approved resetting the aggregate common stock repurchase authorization to $500 million. As of December 31, 2024, approximately $489 million remained under this authorization. The repurchase authorization does not require the repurchase of a specific number of shares, has an indefinite term, and is subject to termination at any time by our board of directors. During 2024, we repurchased 0.4 million shares of our common stock in the open market for $31.1 million. There were no repurchases of our common stock during 2023 or 2022. In July 2019, our board of directors approved an increase in our quarterly dividend and declared a cash dividend of $0.28 per share. The cash dividend of $0.28 per common share was declared and paid in each quarter through July 2022. In July 2022, our board of directors revised our quarterly dividend in response to the Spin Off and declared a cash dividend of $0.15 per share. The cash dividend of $0.15 per common share was declared and paid in each quarter through July 2024. In July 2024, our board of directors approved an increase in our quarterly dividend and declared a cash dividend of $0.17 per share. Subsequent to July 2024, the cash dividend of $0.17 per common share was declared and paid in each quarter through January 2025. Future dividend payments are subject to declaration by our board of directors.

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