XML 27 R20.htm IDEA: XBRL DOCUMENT
v3.24.3

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Information | 12. 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 CODM, 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 CODM 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 September 30, 2024 |
|  | (Amounts in Thousands) |
|  | Personal Care |  |  | Hospice |  |  | Home Health |  |  | Total |
Net service revenues |  | $ | 215,433 |  |  | $ | 57,309 |  |  | $ | 17,045 |  |  | $ | 289,787 |
Cost of services revenues |  |  | 156,273 |  |  |  | 30,469 |  |  |  | 10,841 |  |  |  | 197,583 |
Gross profit |  |  | 59,160 |  |  |  | 26,840 |  |  |  | 6,204 |  |  |  | 92,204 |
General and administrative expenses |  |  | 17,489 |  |  |  | 14,070 |  |  |  | 4,338 |  |  |  | 35,897 |
Segment operating income |  | $ | 41,671 |  |  | $ | 12,770 |  |  | $ | 1,866 |  |  | $ | 56,307 |
|  | For the Three Months Ended September 30, 2023 |
|  | (Amounts in Thousands) |
|  | Personal Care |  |  | Hospice |  |  | Home Health |  |  | Total |
Net service revenues |  | $ | 201,882 |  |  | $ | 53,121 |  |  | $ | 15,718 |  |  | $ | 270,721 |
Cost of services revenues |  |  | 145,808 |  |  |  | 28,155 |  |  |  | 10,028 |  |  |  | 183,991 |
Gross profit |  |  | 56,074 |  |  |  | 24,966 |  |  |  | 5,690 |  |  |  | 86,730 |
General and administrative expenses |  |  | 16,096 |  |  |  | 13,246 |  |  |  | 4,131 |  |  |  | 33,473 |
Segment operating income |  | $ | 39,978 |  |  | $ | 11,720 |  |  | $ | 1,559 |  |  | $ | 53,257 |
|  | For the Three Months Ended September 30, |
|  | 2024 |  |  | 2023 |
|  | (Amounts in Thousands) |
Segment reconciliation: |  |  |  |  |  |
Total segment operating income |  | $ | 56,307 |  |  | $ | 53,257 |
Items not allocated at segment level: |  |  |  |  |  |
Other general and administrative expenses |  |  | 26,908 |  |  |  | 26,798 |
Depreciation and amortization |  |  | 3,446 |  |  |  | 3,620 |
Interest income |  |  | (1,908 | ) |  |  | (580 | )
Interest expense |  |  | 573 |  |  |  | 3,199 |
Income before income taxes |  | $ | 27,288 |  |  | $ | 20,220 |
|  | For the Nine Months Ended September 30, 2024 |
|  | (Amounts in Thousands) |
|  | Personal Care |  |  | Hospice |  |  | Home Health |  |  | Total |
Net service revenues |  | $ | 636,253 |  |  | $ | 169,202 |  |  | $ | 52,000 |  |  | $ | 857,455 |
Cost of services revenues |  |  | 461,564 |  |  |  | 89,166 |  |  |  | 33,186 |  |  |  | 583,916 |
Gross profit |  |  | 174,689 |  |  |  | 80,036 |  |  |  | 18,814 |  |  |  | 273,539 |
General and administrative expenses |  |  | 49,907 |  |  |  | 40,975 |  |  |  | 13,447 |  |  |  | 104,329 |
Segment operating income |  | $ | 124,782 |  |  | $ | 39,061 |  |  | $ | 5,367 |  |  | $ | 169,210 |
|  | For the Nine Months Ended September 30, 2023 |
|  | (Amounts in Thousands) |
|  | Personal Care |  |  | Hospice |  |  | Home Health |  |  | Total |
Net service revenues |  | $ | 590,227 |  |  | $ | 152,414 |  |  | $ | 39,659 |  |  | $ | 782,300 |
Cost of services revenues |  |  | 428,163 |  |  |  | 82,028 |  |  |  | 24,646 |  |  |  | 534,837 |
Gross profit |  |  | 162,064 |  |  |  | 70,386 |  |  |  | 15,013 |  |  |  | 247,463 |
General and administrative expenses |  |  | 48,299 |  |  |  | 39,028 |  |  |  | 9,653 |  |  |  | 96,980 |
Segment operating income |  | $ | 113,765 |  |  | $ | 31,358 |  |  | $ | 5,360 |  |  | $ | 150,483 |
|  | For the Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |
|  | (Amounts in Thousands) |
Segment reconciliation: |  |  |  |  |  |
Total segment operating income |  | $ | 169,210 |  |  | $ | 150,483 |
Items not allocated at segment level: |  |  |  |  |  |
Other general and administrative expenses |  |  | 83,115 |  |  |  | 77,048 |
Depreciation and amortization |  |  | 10,316 |  |  |  | 10,449 |
Interest income |  |  | (2,805 | ) |  |  | (977 | )
Interest expense |  |  | 5,445 |  |  |  | 7,991 |
Income before income taxes |  | $ | 73,139 |  |  | $ | 55,972 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration