XML 28 R17.htm IDEA: XBRL DOCUMENT v3.22.2
Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Information

11. Segment Information

Operating segments are defined as components of a company that engage in business activities from which it may earn revenues and incur expenses, and for which separate financial information is available and is regularly reviewed by the Company’s chief operating decision makers, to assess the performance of the individual segments and make decisions about resources to be allocated to the segments. The Company operates as a multi-state provider of three distinct but related business segments providing in-home services.

In its personal care segment, the Company provides non-medical assistance with activities of daily living, primarily to persons who are at increased risk of hospitalization or institutionalization, such as the elderly, chronically ill or disabled. In its hospice segment, the Company provides physical, emotional and spiritual care for people who are terminally ill as well as related services for their families. In its home health segment, the Company provides services that are primarily medical in nature to individuals who may require assistance during an illness or after hospitalization and include skilled nursing and physical, occupational and speech therapy.

The tables below set forth information about the Company’s reportable segments, along with the items necessary to reconcile the segment information to the totals reported in the accompanying Unaudited Condensed Consolidated Financial Statements. Segment assets are not reviewed by the Company’s chief operating decision maker function and therefore are not disclosed below.

Segment operating income consists of revenue generated by a segment, less the direct costs of service revenues and general and administrative expenses that are incurred directly by the segment. Unallocated general and administrative costs are those costs for functions performed in a centralized manner and therefore not attributable to a particular segment. These costs include accounting, finance, human resources, legal, information technology, corporate office support and facility costs and overall corporate management.

 

 

 

For the Three Months Ended June 30, 2022

 

 

 

(Amounts in Thousands)

 

 

 

Personal Care

 

 

Hospice

 

 

Home Health

 

 

Total

 

Net service revenues

 

$

174,330

 

 

$

52,074

 

 

$

10,536

 

 

$

236,940

 

Cost of services revenues

 

 

128,682

 

 

 

25,522

 

 

 

7,138

 

 

 

161,342

 

Gross profit

 

 

45,648

 

 

 

26,552

 

 

 

3,398

 

 

 

75,598

 

General and administrative expenses

 

 

15,447

 

 

 

13,036

 

 

 

2,501

 

 

 

30,984

 

Segment operating income

 

$

30,201

 

 

$

13,516

 

 

$

897

 

 

$

44,614

 

 

 

 

For the Three Months Ended June 30, 2021

 

 

 

(Amounts in Thousands)

 

 

 

Personal Care

 

 

Hospice

 

 

Home Health

 

 

Total

 

Net service revenues

 

$

176,267

 

 

$

36,909

 

 

$

4,717

 

 

$

217,893

 

Cost of services revenues

 

 

127,258

 

 

 

18,912

 

 

 

2,913

 

 

 

149,083

 

Gross profit

 

 

49,009

 

 

 

17,997

 

 

 

1,804

 

 

 

68,810

 

General and administrative expenses

 

 

16,358

 

 

 

8,673

 

 

 

968

 

 

 

25,999

 

Segment operating income

 

$

32,651

 

 

$

9,324

 

 

$

836

 

 

$

42,811

 

 

 

 

For the Three Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

 

(Amounts in Thousands)

 

Segment reconciliation:

 

 

 

 

 

 

 

 

Total segment operating income

 

$

44,614

 

 

$

42,811

 

 

 

 

 

 

 

 

 

 

Items not allocated at segment level:

 

 

 

 

 

 

 

 

Other general and administrative expenses

 

 

24,111

 

 

 

22,176

 

Depreciation and amortization

 

 

3,609

 

 

 

3,587

 

Interest income

 

 

(108

)

 

 

(31

)

Interest expense

 

 

1,986

 

 

 

1,262

 

Income before income taxes

 

$

15,016

 

 

$

15,817

 

 

 

 

 

 

 

For the Six Months Ended June 30, 2022

 

 

 

(Amounts in Thousands)

 

 

 

Personal Care

 

 

Hospice

 

 

Home Health

 

 

Total

 

Net service revenues

 

$

343,962

 

 

$

99,801

 

 

$

19,811

 

 

$

463,574

 

Cost of services revenues

 

 

254,973

 

 

 

48,963

 

 

 

13,854

 

 

 

317,790

 

Gross profit

 

 

88,989

 

 

 

50,838

 

 

 

5,957

 

 

 

145,784

 

General and administrative expenses

 

 

30,451

 

 

 

24,748

 

 

 

4,860

 

 

 

60,059

 

Segment operating income

 

$

58,538

 

 

$

26,090

 

 

$

1,097

 

 

$

85,725

 

 

 

 

 

 

For the Six Months Ended June 30, 2021

 

 

 

(Amounts in Thousands)

 

 

 

Personal Care

 

 

Hospice

 

 

Home Health

 

 

Total

 

Net service revenues

 

$

341,135

 

 

$

73,003

 

 

$

9,057

 

 

$

423,195

 

Cost of services revenues

 

 

250,097

 

 

 

37,508

 

 

 

5,583

 

 

 

293,188

 

Gross profit

 

 

91,038

 

 

 

35,495

 

 

 

3,474

 

 

 

130,007

 

General and administrative expenses

 

 

31,641

 

 

 

17,136

 

 

 

1,933

 

 

 

50,710

 

Segment operating income

 

$

59,397

 

 

$

18,359

 

 

$

1,541

 

 

$

79,297

 

 

 

 

 

 

For the Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

 

(Amounts in Thousands)

 

Segment reconciliation:

 

 

 

 

 

 

 

 

Total segment operating income

 

$

85,725

 

 

$

79,297

 

 

 

 

 

 

 

 

 

 

Items not allocated at segment level:

 

 

 

 

 

 

 

 

Other general and administrative expenses

 

 

48,188

 

 

 

42,891

 

Depreciation and amortization

 

 

7,130

 

 

 

7,188

 

Interest income

 

 

(166

)

 

 

(53

)

Interest expense

 

 

3,806

 

 

 

2,478

 

Income before income taxes

 

$

26,767

 

 

$

26,793