Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

4. 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, 2022	$	397,728	$	152,688	$	32,421	$	582,837
Additions for acquisitions		—		599				599
Adjustments to previously recorded goodwill		—		—		220		220
Goodwill as of June 30, 2023	$	397,728	$	153,287	$	32,641	$	583,656

On January 1, 2023, the Company completed the acquisition of Coastal Nursecare of Florida, Inc. (“CareStaff”) for approximately $1.0 million. With the purchase of CareStaff, the Company expanded its personal care services segment in Florida. In connection with the Carestaff acquisition, the Company recognized goodwill in its personal care segment of $0.6 million during the six months ended June 30, 2023.

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 one 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 June 30, 2023:


	Customer and referral relationships			Trade names and trademarks			Non- competition agreements			State Licenses			Total
	(Amounts in Thousands)
Intangible assets with indefinite lives		—			—			—			27,108			27,108
Intangible assets subject to amortization:
Gross carrying amount		44,672			52,046			6,785			12,670			116,174
Accumulated amortization		(38,840	)		(22,366	)		(5,193	)		(8,023	)		(74,423	)
Intangible assets subject to amortization, net		5,832			29,680			1,592			4,647			41,751
Total intangible assets at June 30, 2023	$	5,832		$	29,680		$	1,592		$	31,755		$	68,859

Amortization expense related to the intangible assets was $1.7 million and $3.5 million for the three and six months ended June 30, 2023, respectively, and $1.8 million and $3.6 million for the three and six months ended June 30, 2022, respectively. The weighted average remaining useful lives of identifiable intangible assets as of June 30, 2023 was 9.6 years.