XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.25.1

Leases | 3 Months Ended
--- | ---
Mar. 31, 2025
Leases [Abstract] |
Leases | 7. Leases Chemed and each of its operating subsidiaries are service companies. As such, real estate leases comprise the largest lease obligation (and conversely, right of use asset) in our lease portfolio. VITAS has leased office space, as well as space for inpatient units (“IPUs”) and/or contract beds within hospitals. Roto-Rooter mainly has leased office space. Our leases have remaining terms of under 1 year to 12 years, some of which include options to extend the lease for up to 5 years, and some of which include options to terminate the lease within 1 year. Roto-Rooter purchases equipment and leases it to certain of its independent contractors. We analyzed these leases in accordance with ASC 842 and determined they are operating leases. As a result, Roto-Rooter capitalizes the equipment underlying these leases, depreciates the equipment and recognizes rental income. We do no t currently have any finance leases, therefore all lease information disclosed is related to operating leases. The components of balance sheet information related to leases were as follows:
| March 31, |  | ‎December 31,
| 2025 |  | 2024
Assets |  |  |  |  |
Operating lease assets | $ | 131,150 |  | $ | 127,323
Liabilities |  |  |  |  |
Current operating leases |  | 42,976 |  |  | 42,306
Noncurrent operating leases |  | 102,082 |  |  | 98,538
Total operating lease liabilities | $ | 145,058 |  | $ | 140,844
The components of lease expense for the first quarter are as follows (in thousands):
| Three months ended March 31,
| 2025 |  | 2024
Lease Expense (a) |  |  |  |  |
Operating lease expense | $ | 16,875 |  | $ | 15,582
Sublease income |  | (36) |  |  | (23)
Net lease expense | $ | 16,839 |  | $ | 15,559
(a)Includes short-term leases and variable lease costs, which are immaterial. Included in both cost of services provided and goods sold and selling, general and administrative expenses. ‎ The components of cash flow information related to leases were as follows:
| Three months ended March 31,
| 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |
Operating cash flows from leases | $ | 13,571 |  | $ | 12,453
Leased assets obtained in exchange for new operating lease liabilities | $ | 15,988 |  | $ | 16,559
Weighted Average Remaining Lease Term at March 31, 2025 |  |  |
Operating leases |  | 4.64 | years
Weighted Average Discount Rate at March 31, 2025 |  |  |
Operating leases |  | 3.86 | %
Maturity of Operating Lease Liabilities (in thousands) |  |  |  |  |
2025 |  |  |  | $ | 38,146
2026 |  |  |  |  | 40,178
2027 |  |  |  |  | 26,945
2028 |  |  |  |  | 20,385
2029 |  |  |  |  | 14,967
Thereafter |  |  |  |  | 19,139
Total lease payments |  |  |  | $ | 159,760
Less: interest |  |  |  |  | (14,702)
Total liability recognized on the balance sheet |  |  |  | $ | 145,058
For leases commencing prior to April 2019, minimum rental payments exclude payments to landlords for real estate taxes and common area maintenance. Operating lease payments include $3.1 million related to extended lease terms that are reasonably certain of being exercised and exclude $1.3 million of lease payments for leases signed but not yet commenced.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration