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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information

14. 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 chief operating decision makers (“CODM”). The Company identifies its Chief Executive Officer and Chief Operating Officer together as 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 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 Company’s method for measuring profitability on each reportable segment basis is the same as those described in the summary of significant accounting policies and its CODM frequently reviews the actual result to budget variance to allocate resources to the segment and assess its performance. 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.

The CODM does not review disaggregated assets by segment. The measure of segment assets is reported on the balance sheet as total consolidated assets.

The tables below set forth information about the Company’s reportable segments, including significant expenses, for the years ended December 31, 2024, 2023 and 2022 along with the items necessary to reconcile the segment information to the totals reported in the accompanying consolidated financial statements.

 

 

 

For the Year Ended December 31, 2024

 

 

 

(Amounts in Thousands)

 

 

 

Personal Care

 

 

Hospice

 

 

Home Health

 

 

Total

 

Net service revenues

 

$

856,581

 

 

$

228,191

 

 

$

69,827

 

 

$

1,154,599

 

Direct service personnel

 

 

613,160

 

 

 

97,128

 

 

 

42,631

 

 

 

752,919

 

General and administrative salaries, wages and benefits

 

 

48,485

 

 

 

41,370

 

 

 

14,349

 

 

 

104,204

 

Other segment items 1

 

 

20,719

 

 

 

37,762

 

 

 

4,913

 

 

 

63,394

 

Segment operating income

 

 

174,217

 

 

 

51,931

 

 

 

7,934

 

 

 

234,082

 

Segment reconciliation:

 

 

 

 

 

 

 

 

 

 

 

 

Items not allocated at segment level:

 

 

 

 

 

 

 

 

 

 

 

 

Other general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

117,861

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

13,530

 

Interest income

 

 

 

 

 

 

 

 

 

 

 

(4,394

)

Interest expense

 

 

 

 

 

 

 

 

 

 

 

7,732

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

99,353

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(2)
Other segment items include other costs for direct service personnel, office expense, licenses & taxes, communication, medical director fees, travel and bad debt expense.

 

 

 

For the Year Ended December 31, 2023

 

 

 

(Amounts in Thousands)

 

 

 

Personal Care

 

 

Hospice

 

 

Home Health

 

 

Total

 

Net service revenues

 

$

794,718

 

 

$

207,155

 

 

$

56,778

 

 

$

1,058,651

 

Direct service personnel

 

 

571,445

 

 

 

87,851

 

 

 

34,244

 

 

 

693,540

 

General and administrative salaries, wages and benefits

 

 

47,302

 

 

 

38,843

 

 

 

11,501

 

 

 

97,646

 

Other segment items 1

 

 

18,442

 

 

 

35,608

 

 

 

4,021

 

 

 

58,071

 

Segment operating income

 

 

157,529

 

 

 

44,853

 

 

 

7,012

 

 

 

209,394

 

Segment reconciliation:

 

 

 

 

 

 

 

 

 

 

 

 

Items not allocated at segment level:

 

 

 

 

 

 

 

 

 

 

 

 

Other general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

104,312

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

14,126

 

Interest income

 

 

 

 

 

 

 

 

 

 

 

(1,476

)

Interest expense

 

 

 

 

 

 

 

 

 

 

 

11,106

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

81,326

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(1)
Other segment items include other costs for direct service personnel, office expense, licenses & taxes, communication, medical director fees, travel and bad debt expense.

 

 

 

For the Year Ended December 31, 2022

 

 

 

(Amounts in Thousands)

 

 

 

Personal Care

 

 

Hospice

 

 

Home Health

 

 

Total

 

Net service revenues

 

$

706,507

 

 

$

201,772

 

 

$

42,841

 

 

$

951,120

 

Direct service personnel

 

 

519,249

 

 

 

80,033

 

 

 

28,579

 

 

 

627,861

 

General and administrative salaries, wages and benefits

 

 

45,089

 

 

 

36,443

 

 

 

8,369

 

 

 

89,901

 

Other segment items 1

 

 

16,811

 

 

 

34,222

 

 

 

3,111

 

 

 

54,144

 

Segment operating income

 

 

125,358

 

 

 

51,074

 

 

 

2,782

 

 

 

179,214

 

Segment reconciliation:

 

 

 

 

 

 

 

 

 

 

 

 

Items not allocated at segment level:

 

 

 

 

 

 

 

 

 

 

 

 

Other general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

96,417

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

14,060

 

Interest income

 

 

 

 

 

 

 

 

 

 

 

(341

)

Interest expense

 

 

 

 

 

 

 

 

 

 

 

8,907

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

60,171

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(1)
Other segment items include other costs for direct service personnel, office expense, licenses & taxes, communication, medical director fees, travel and bad debt expense.