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Variable Interest Entities (VIEs)

6 Months Ended

Jun. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities (VIEs)

Variable Interest Entities (“VIEs”)

As of June 30, 2025 and December 31, 2024, Enhabit consolidated two joint venture entities that are VIEs and of which the Company is the primary beneficiary. The Company’s ownership percentages in these entities range from 60% and 90% as of June 30, 2025. Through partnership and management agreements with or governing these entities, Enhabit manages these entities and handles all day-to-day operating decisions. Accordingly, management has the decision-making power over the activities that most significantly impact the economic performance of the VIEs and the Company has an obligation to absorb losses or receive benefits from the VIEs that could potentially be significant to the VIEs. These decisions and significant activities include, but are not limited to, marketing efforts, oversight of patient admissions, medical training, nurse and therapist scheduling, provision of healthcare services, billing, collections, and creation and maintenance of medical records. The terms of the agreements governing the VIEs prohibit the Company from using the assets of the VIEs to satisfy the obligations of other entities.

The carrying amounts and classifications of the consolidated VIEs’ assets and liabilities, which are included in Enhabit’s unaudited Condensed Consolidated Balance Sheets, are as follows (in millions):

			As of June 30, 2025						As of December 31, 2024
Assets
Current assets:
Restricted cash			$	1.5					$	1.4
Accounts receivable, net of allowances			2.1						2.1
Total current assets			3.6						3.5
Operating lease right-of-use assets			0.1						0.1
Goodwill			12.4						12.4
Intangible assets, net			0.6						0.7
Total assets			$	16.7					$	16.7
Liabilities
Current liabilities:
Current operating lease liabilities			$	0.1					$	0.1
Accrued payroll			0.2						0.2
Other current liabilities			0.7						0.9
Total current liabilities			1.0						1.2
Other long-term liabilities			—						0.1
Total liabilities			$	1.0					$	1.3

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- Definition

The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/810/tableOfContent

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