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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 6. 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 acquisitions |  |  | — |  |  |  | 400 |  |  |  | — |  |  |  | 400 |
Adjustments to previously recorded goodwill |  |  | 38 |  |  |  | — |  |  |  | 418 |  |  |  | 456 |
Goodwill as of June 30, 2024 |  | $ | 432,837 |  |  | $ | 153,676 |  |  | $ | 77,338 |  |  | $ | 663,851 |
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 six months ended June 30, 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:
|  |  |  | June 30, 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 |  |  | $ | (40,248 | ) |  | $ | 4,424 |  |  | $ | 44,672 |  |  | $ | (39,566 | ) |  | $ | 5,106 |
Trade names and trademarks |  | 1-20 years |  |  | 59,566 |  |  |  | (25,360 | ) |  |  | 34,206 |  |  |  | 59,566 |  |  |  | (23,857 | ) |  |  | 35,709 |
Non-competition agreement |  | 3-5 years |  |  | 6,785 |  |  |  | (6,009 | ) |  |  | 776 |  |  |  | 6,785 |  |  |  | (5,601 | ) |  |  | 1,184 |
State Licenses |  | 6-10 years |  |  | 12,671 |  |  |  | (10,007 | ) |  |  | 2,664 |  |  |  | 12,671 |  |  |  | (9,015 | ) |  |  | 3,656 |
State Licenses |  | Indefinite |  |  | 46,328 |  |  |  | — |  |  |  | 46,328 |  |  |  | 46,328 |  |  |  | — |  |  |  | 46,328 |
Total intangible assets |  |  |  | $ | 170,022 |  |  | $ | (81,624 | ) |  | $ | 88,398 |  |  | $ | 170,022 |  |  | $ | (78,039 | ) |  | $ | 91,983 |
Amortization expense related to the intangible assets was $1.8 million and $3.6 million for the three and six months ended June 30, 2024, respectively, and $1.7 million and $3.5 million for the three and six months ended June 30, 2023, respectively. The weighted average remaining useful lives of identifiable intangible assets as of June 30, 2024 was 10.1 years.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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