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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:      
Net income $ 139,087,000 $ 41,990,000 $ 67,976,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 40,672,000 42,018,000 42,419,000
Equity in earnings of unconsolidated investments (5,111,000) (12,342,000) (9,744,000)
Distributions from unconsolidated investments 6,314,000 10,050,000 3,902,000
Unrealized losses (gains) on marketable equity securities 13,863,000 23,966,000 (12,230,000)
Gains on sale of marketable securities (1,042,000) (195,000) (127,000)
Gains on acquisitions of equity method investments (95,202,000) (1,707,000) (1,975,000)
Gain on sale of skilled nursing facility 0 (2,784,000) 0
Deferred income taxes 6,294,000 10,593,000 (4,052,000)
Impairment of assets 8,225,000 0 0
Stock–based compensation 2,620,000 2,453,000 1,878,000
Changes in operating assets and liabilities:      
Accounts receivable 4,090,000 4,529,000 4,299,000
Federal income tax receivable 0 0 (2,560,000)
Inventories 199,000 (1,249,000) 29,000
Prepaid expenses and other assets (3,298,000) 4,727,000 (287,000)
Trade accounts payable (2,083,000) 1,429,000 (856,000)
Accrued payroll 17,292,000 15,948,000 2,208,000
Amounts due to third party payors 649,000 1,200,000 (1,000,000)
Accrued risk reserves (1,489,000) 3,454,000 540,000
Provider relief funds (6,625,000) 16,068,000 0
Contract liabilities (36,231,000) 51,253,000 0
Other current liabilities (1,380,000) 5,898,000 780,000
Other noncurrent liabilities (11,862,000) 7,146,000 799,000
Net cash provided by operating activities 62,394,000 203,259,000 100,103,000
Cash Flows From Investing Activities:      
Purchases of property and equipment (39,399,000) (21,873,000) (26,400,000)
Proceeds from the sale of skilled nursing facility 0 6,750,000 0
Investments in unconsolidated companies (350,000) (305,000) (222,000)
Acquisitions of equity method investments (28,713,000) (6,648,000) (15,589,000)
Investments in notes receivable 0 (425,000) (5,462,000)
Collections of notes receivable 8,840,000 2,483,000 1,379,000
Purchases of marketable securities (108,187,000) (84,854,000) (12,471,000)
Sale of marketable securities 101,920,000 40,994,000 44,500,000
Net cash used in investing activities (65,889,000) (63,878,000) (14,265,000)
Cash Flows From Financing Activities:      
Borrowings under credit facility 0 40,000,000 0
Principal payments under credit facility 0 (50,000,000) (45,000,000)
Principal payments under finance lease obligations (4,423,000) (4,166,000) (3,923,000)
Dividends paid to common stockholders (32,030,000) (31,921,000) (31,208,000)
Issuance of common shares 3,441,000 1,756,000 2,346,000
Repurchase of common shares (836,000) (53,000) (872,000)
Noncontrolling interest contributions (distributions) (964,000) 2,488,000 (468,000)
Entrance fee deposits (refunds) (452,000) 7,000 (623,000)
Net cash used in financing activities (35,264,000) (41,889,000) (79,748,000)
Net Increase (Decrease) in Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents (38,759,000) 97,492,000 6,090,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning of Period 158,502,000 61,010,000 54,920,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, End of Period 119,743,000 158,502,000 61,010,000
Balance Sheet Classifications:      
Cash and cash equivalents 107,607,000 147,093,000 50,334,000
Restricted Cash and Cash Equivalents 12,136,000 11,409,000 10,676,000
Total Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents 119,743,000 158,502,000 61,010,000
Supplemental Information:      
Cash payments for interest 845,000 1,425,000 3,118,000
Cash payments for income taxes 22,881,000 16,524,000 20,889,000
Non-cash activities include:      
Noncontrolling interest contribution of land $ 2,840,000 $ 0 $ 0