XML 62 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
Equity
3 Months Ended
Mar. 31, 2014
Stockholders' Equity Note [Abstract]  
Equity
Equity
Changes in equity for the three months ended March 31, 2014 and 2013 were as follows (in thousands, except share amounts): 
 
Gentiva Shareholders
 
 
 
 
 
Common Stock
 
Additional
Paid-in Capital
 
Retained
Earnings
(Deficit)
 
Treasury Stock
 
Noncontrolling Interests
 
 
 
Shares
 
Amount
 
 
 
 
 
Total
Balance at December 31, 2012
32,009,286

 
$
3,201

 
$
399,148

 
$
(151,335
)
 
$
(17,852
)
 
$
1,538

 
$
234,700

Comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income

 

 

 
(207,177
)
 

 
121

 
(207,056
)
Total comprehensive (loss) income

 

 

 
(207,177
)
 

 
121

 
(207,056
)
Income tax expense associated with the exercise of non-qualified stock options

 

 
(304
)
 

 

 

 
(304
)
Equity-based compensation expense

 

 
1,813

 

 

 

 
1,813

Net issuance of stock upon exercise of stock options and under stock plans for employees and directors
501,401

 
50

 
942

 

 
(261
)
 

 
731

Distribution to partnership interests

 

 

 

 

 
(240
)
 
(240
)
Balance at March 31, 2013
32,510,687

 
$
3,251

 
$
401,599

 
$
(358,512
)
 
$
(18,113
)
 
$
1,419

 
$
29,644

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2013
37,713,302

 
$
3,771

 
$
462,262

 
$
(750,329
)
 
$
(18,773
)
 
$
2,875

 
$
(300,194
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)

 

 

 
314

 

 
184

 
498

Total comprehensive income (loss)

 

 

 
314

 

 
184

 
498

Income tax expense associated with the exercise of non-qualified stock options

 

 
(1,359
)
 

 

 

 
(1,359
)
Equity-based compensation expense

 

 
2,221

 

 

 

 
2,221

Net issuance of stock upon exercise of stock options and under stock plans for employees and directors
420,460

 
43

 
554

 

 

 

 
597

Minority interest capital contribution

 

 

 

 

 
1,160

 
1,160

Distribution to partnership interests

 

 

 

 

 
(115
)
 
(115
)
Treasury shares:
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock withheld (32,662 shares) for payroll tax withholdings related to equity-based compensation

 

 

 

 
(392
)
 

 
(392
)
Balance at March 31, 2014
38,133,762

 
$
3,814

 
$
463,678

 
$
(750,015
)
 
$
(19,165
)
 
$
4,104

 
$
(297,584
)
Comprehensive income amounted to $0.5 million for the first quarter of 2014 as compared to comprehensive loss of $207.1 million for the first quarter of 2013.
The Company has an outstanding stock repurchase plan authorized by its Board of Directors to repurchase of up to $5,000,000 of shares of the Company’s outstanding common stock (the "2012 Repurchase Program"). During the three months ended March 31, 2014 and 2013, the Company did not repurchase shares of its outstanding common stock. As of March 31, 2014, the Company had remaining authorization under the 2012 Repurchase Program to repurchase common stock with an aggregate purchase price of up to $1.5 million, subject to the additional limitations set forth below.
The Company’s Credit Agreement provides for repurchases of the Company’s common stock not to exceed $7.5 million per year, and not to exceed $25.0 million per year if the consolidated leverage ratio is less than or equal to 3.5:1.0 immediately after giving effect on a pro forma basis to the repurchase. The indenture governing the Company’s Senior Notes also contains limitations on the Company’s repurchases of its common stock.