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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2024
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 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, 2023 |  | $ | 432,799 |  |  | $ | 153,276 |  |  | $ | 76,920 |  |  | $ | 662,995 |
Additions for acquisition |  |  | — |  |  |  | 400 |  |  |  | — |  |  |  | 400 |
Adjustments to previously recorded goodwill |  |  | (54 | ) |  |  | — |  |  |  | 50 |  |  |  | (4 | )
Goodwill as of March 31, 2024 |  | $ | 432,745 |  |  | $ | 153,676 |  |  | $ | 76,970 |  |  | $ | 663,391 |
On March 9, 2024, the Company completed its acquisition of the operations of Upstate Home Care Solutions (“Upstate”) for $0.4 million. With the purchase of Upstate, the Company expanded its personal care services segment in South Carolina. In connection with the Upstate acquisition, the Company recognized goodwill in its personal care segment of $0.4 million during the three months ended March 31, 2024. 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 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:
|  |  |  | March 31, 2024 |  |  | December 31, 2023 |
|  |  |  | (Amounts in Thousands) |  |  | (Amounts in Thousands) |
|  | Estimated Useful Life |  | Gross carrying value |  |  | Accumulated amortization |  |  | Net carrying value |  |  | Gross carrying value |  |  | Accumulated amortization |  |  | Net carrying value |
Customer and referral relationships |  | 5-10 years |  | $ | 44,672 |  |  | $ | (39,907 | ) |  | $ | 4,765 |  |  | $ | 44,672 |  |  | $ | (39,566 | ) |  | $ | 5,106 |
Trade names and trademarks |  | 1-20 years |  |  | 59,566 |  |  |  | (24,608 | ) |  |  | 34,958 |  |  |  | 59,566 |  |  |  | (23,857 | ) |  |  | 35,709 |
Non-competition agreement |  | 3-5 years |  |  | 6,785 |  |  |  | (5,805 | ) |  |  | 980 |  |  |  | 6,785 |  |  |  | (5,601 | ) |  |  | 1,184 |
State Licenses |  | 6-10 years |  |  | 12,671 |  |  |  | (9,511 | ) |  |  | 3,160 |  |  |  | 12,671 |  |  |  | (9,015 | ) |  |  | 3,656 |
State Licenses |  | Indefinite |  |  | 46,328 |  |  |  | — |  |  |  | 46,328 |  |  |  | 46,328 |  |  |  | — |  |  |  | 46,328 |
Total intangible assets |  |  |  | $ | 170,022 |  |  | $ | (79,831 | ) |  | $ | 90,191 |  |  | $ | 170,022 |  |  | $ | (78,039 | ) |  | $ | 91,983 |
Amortization expense related to the intangible assets w as $1.8 million a nd $1.7 million for the three months ended March 31, 2024 and 2023, respectively. The weighted average remaining useful lives of identifiable intangible assets as of March 31, 2024 wa s 10.14 ye ars.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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