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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2025
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 5. Goodwill and Intangible Assets A summary of the goodwill by segment and related adjustments is provided below:
|  | Hospice |  |  | Personal Care |  |  | Home Health |  |  | Total |
|  | (Amounts in Thousands) |
Goodwill as of December 31, 2024 |  | $ | 432,840 |  |  | $ | 442,526 |  |  | $ | 95,192 |  |  | $ | 970,558 |
Additions for acquisitions |  |  | — |  |  |  | 3,350 |  |  |  | — |  |  |  | 3,350 |
Adjustments to previously recorded goodwill |  |  |  |  |  | (1,414 | ) |  |  | (147 | ) |  |  | (1,561 | )
Goodwill as of March 31, 2025 |  | $ | 432,840 |  |  | $ | 444,462 |  |  | $ | 95,045 |  |  | $ | 972,347 |
On January 1, 2025, the Company completed its acquisition of its Jacksonville affiliate for approximately $0.8 million (the “Jacksonville Acquisition”), with funding provided by available cash. With the Jacksonville Acquisition, the Company expanded its personal care segment in Florida and recorded goodwill of $0.8 million. On March 1, 2025, the Company completed its acquisition of the assets of Great Lakes Home Care Unlimited, LLC for $2.6 million (the “Great Lakes Acquisition”) with funding provided by available cash. With the Great Lakes Acquisition, the Company expanded its personal care segment in Michigan and recognized goodwill in its personal care segment of $2.6 million during the three months ended March 31, 2025. 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 fifteen 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, 2025 |  |  | December 31, 2024 |
|  |  |  | (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 |  | $ | 34,201 |  |  | $ | (33,364 | ) |  | $ | 837 |  |  | $ | 34,201 |  |  | $ | (33,255 | ) |  | $ | 946 |
Trade names and trademarks |  | 1-15 years |  |  | 59,366 |  |  |  | (23,059 | ) |  |  | 36,307 |  |  |  | 59,366 |  |  |  | (21,900 | ) |  |  | 37,466 |
Non-competition agreement |  | 3-5 years |  |  | 6,728 |  |  |  | (6,369 | ) |  |  | 359 |  |  |  | 6,728 |  |  |  | (6,263 | ) |  |  | 465 |
State Licenses |  | 6-10 years |  |  | 24,981 |  |  |  | (1,868 | ) |  |  | 23,113 |  |  |  | 24,981 |  |  |  | (1,243 | ) |  |  | 23,738 |
State Licenses |  | Indefinite |  |  | 47,028 |  |  |  | — |  |  |  | 47,028 |  |  |  | 47,028 |  |  |  | — |  |  |  | 47,028 |
Total intangible assets |  |  |  | $ | 172,304 |  |  | $ | (64,660 | ) |  | $ | 107,644 |  |  | $ | 172,304 |  |  | $ | (62,661 | ) |  | $ | 109,643 |
Amortization expense related to intangible assets w as $2.0 million a nd $1.8 million for the three months ended March 31, 2025 and 2024, respectively. The weighted average remaining useful lives of identifiable intangible assets as of March 31, 2025 wa s 9.63 ye ars.

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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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