Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

5. Goodwill and Intangible Assets

A summary of the goodwill and related adjustments is provided below:


	Hospice			Personal Care		Home Health		Total
	(Amounts in Thousands)
Goodwill as of December 31, 2021	$	328,334		$	152,688	$	23,370	$	504,392
Additions for acquisitions		70,724							70,724
Adjustments to previously recorded goodwill		(52	)				141		89
Goodwill as of September 30, 2022	$	399,006		$	152,688	$	23,511	$	575,205

In connection with the JourneyCare acquisition, the Company recognized goodwill in its hospice segment of $70.7 million, during the nine months ended September 30, 2022. See Note 4 for additional information regarding the acquisition.

The Company’s identifiable intangible assets consist of customer and referral relationships, trade names and trademarks, non-competition agreements and state licenses. Amortization is computed using straight-line and accelerated methods based upon the estimated useful lives of the respective assets, which range from five to twenty-five years. Customer and referral relationships are amortized systematically over the periods of expected economic benefit, which range from five to ten years.

The carrying amount and accumulated amortization of each identifiable intangible asset category consisted of the following as of September 30, 2022:


	Customer and referral relationships			Trade names and trademarks			Non- competition agreements			State Licenses			Total
	(Amounts in Thousands)
Intangible assets with indefinite lives		—			—			—			25,891			25,891
Intangible assets subject to amortization:
Gross carrying amount		44,672			51,941			6,785			12,517			115,915
Accumulated amortization		(37,652	)		(20,402	)		(4,581	)		(6,516	)		(69,151	)
Intangible assets subject to amortization, net		7,020			31,539			2,204			6,001			46,764
Total intangible assets at September 30, 2022	$	7,020		$	31,539		$	2,204		$	31,892		$	72,655

In connection with the JourneyCare acquisition, the Company recognized a trade name of $9.0 million and indefinite lived state licenses of $4.8 million in its hospice segment during the three months ended March 31, 2022. See Note 4 for additional information regarding the acquisition.

Amortization expense related to the intangible assets was $1.8 million and $5.4 million for the three and nine months ended September 30, 2022, respectively, and $1.9 million and $6.2 million for the three and nine months ended September 30, 2021, respectively. The weighted average remaining useful lives of identifiable intangible assets as of September 30, 2022 was 10.0 years.