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Marketable Securities | 6 Months Ended
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Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | Marketable Securities Restricted marketable securities at both balance sheet dates represent restricted assets held at HCS, Ltd (“HCS”), our consolidated wholly owned offshore captive insurance company. HCS insures a substantial portion of Encompass Health’s professional liability, workers’ compensation, and other insurance claims. These funds are committed for payment of claims incurred, and the classification of these marketable securities as current or noncurrent depends on the classification of the corresponding claims liability. As of June 30, 2025, $33.2 million of restricted marketable securities are included in Other current assets and $94.9 million of restricted marketable securities are included in Other long-term assets in our condensed consolidated balance sheet. As of December 31, 2024, $39.0 million of restricted marketable securities are included in Other current assets and $91.9 million are included in Other long-term assets in our condensed consolidated balance sheet. During the three and six months ended June 30, 2025, $0.8 million of unrealized net gains (losses) were recognized in our condensed consolidated statements of operations on equity securities still held at the reporting date. During the three and six months ended June 30, 2024, $(0.5) million and $(0.1) million, respectively, of unrealized net gains (losses) were recognized in our condensed consolidated statements of operations on equity securities still held at the reporting date. A summary of our debt securities as of June 30, 2025 is as follows (in millions):
| Amortized Cost |  | Gross Unrealized Gains |  |  |  | Fair Value
Available-for-sale debt securities: |  |  |  |  |  |  |
U.S. government and agency securities | $ | 48.6 |  |  | $ | 0.3 |  |  |  |  | $ | 48.9 |
Corporate bonds and notes | 39.2 |  |  | 0.2 |  |  |  |  | 39.4 |
During the three and six months ended June 30, 2025, we did not record any impairment charges related to our debt securities. We did not have any debt securities during the three and six months ended June 30, 2024. Investing information related to our available-for-sale debt securities is as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Proceeds from sales and maturities | $ | 8.7 |  |  | $ | — |  |  | $ | 8.7 |  |  | $ | — |
The contractual maturities of our available-for-sale debt securities as of June 30, 2025 are as follows (in millions):
| Amortized Cost |  | Fair Value
Due in one year or less | $ | 19.7 |  |  | $ | 19.8 |
Due after one year through five years | 59.5 |  | 59.7
Due after five years through ten years | 3.6 |  | 3.7
Due after ten years | 5.0 |  | 5.1
Total | $ | 87.8 |  |  | $ | 88.3 |

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