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Acquisitions and Dispositions (Tables) | 12 Months Ended
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Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of discontinued operations | Certain key selected financial information included in Income from discontinued operations, net of tax, for Concentra is as follows:
| For the Year Ended December 31,
| 2023 |  | 2024 |  |
Revenue | $ | 1,838,081 |  |  | $ | 1,738,411 |  |  |
Costs and expenses: |  |  |  |  |
Cost of services, exclusive of depreciation and amortization | 1,477,648 |  |  | 1,374,783 |  |  |
General and administrative | — |  |  | 1,620 |  |  |
Depreciation and amortization | 73,051 |  |  | 61,028 |  |  |
Total costs and expenses | 1,550,699 |  |  | 1,437,431 |  |  |
Other operating income | 250 |  |  | 284 |  |  |
Income from operations | 287,632 |  |  | 301,264 |  |  |
Other income and expense: |  |  |  |  |
Equity in earnings of unconsolidated subsidiaries | (526) |  |  | (3,676) |  |  |
Interest expense(1) | (44,474) |  |  | (59,513) |  |  |
Income from discontinued operations before income taxes | 242,632 |  |  | 238,075 |  |  |
Income tax expense | 53,372 |  |  | 56,756 |  |  |
Income from discontinued operations, net of tax | 189,260 |  |  | 181,319 |  |  |
Less: Net income attributable to non-controlling interests | 4,796 |  |  | 18,152 |  |  |
Income from discontinued operations, net of tax, attributable to Select Medical Holdings Corporation’s common stockholders | $ | 184,464 |  |  | $ | 163,167 |  |  |
_______________________________________________________________________________ (1) For the years ended December 31, 2023 and 2024, interest expense includes allocated interest expense of $44.3 million and $22.0 million, respectively. Interest was allocated in accordance with the terms of an intercompany promissory note in place between the Company and Concentra prior to the separation.
Supplemental cash flow information | The following is selected financial information included on the Consolidated Statements of Cash Flows for Concentra:
| For the Year Ended December 31,
| 2023 |  | 2024 |  |
Depreciation and amortization | 73,051 |  |  | 61,028 |  |  |
Cash flows from investing activities: |  |  |  |  |
Purchases of property, equipment, and other assets | $ | 69,340 |  |  | $ | 63,269 |  |  |
Supplemental cash flow information related to leases is as follows:
| For the Year Ended December 31,
| 2023 |  | 2024 |  | 2025
| (in thousands)
Cash paid for amounts included in the measurement of lease liabilities (1): |  |  |  |  |
Operating cash flows for operating leases | $ | 317,256 |  |  | $ | 321,271 |  |  | $ | 244,623 |
Operating cash flows for finance leases | 1,239 |  |  | 1,104 |  |  | 1,081 |
Financing cash flows for finance leases | 1,617 |  |  | 1,347 |  |  | 652 |
Right-of-use assets obtained in exchange for lease liabilities: |  |  |  |  |
Operating leases | 171,569 |  |  | 299,111 |  |  | 238,495 |
Finance leases | — |  |  | — |  |  | 56,676 |
_______________________________________________________________________________ (1) Cash flows include cash paid for operating and finance leases of discontinued operations for the years ended December 31, 2023 and 2024. The Company’s net cash paid for income taxes consisted of the following:
|  |  |  |  | For the Year Ended December 31, 2025
|  |  |  |  | (in thousands)
Federal |  |  |  |  | $ | 10,745 |
Aggregated state and local jurisdictions |  |  |  |  | 5,731 |
Disaggregated state and local jurisdictions |  |  |  |  |
Florida |  |  |  |  | 1,284 |
New Jersey |  |  |  |  | 1,474 |
Ohio |  |  |  |  | 1,171 |
Pennsylvania |  |  |  |  | 5,617 |
Net cash paid for income taxes |  |  |  |  | $ | 26,022 |

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