Summary of Goodwill by Segment and Related Adjustments |
A summary of goodwill by segment and related adjustments is provided below:
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Goodwill |
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Hospice |
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|
Personal Care |
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|
Home Health |
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Total |
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|
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(Amounts In Thousands) |
|
Goodwill at December 31, 2021 |
|
$ |
328,334 |
|
|
$ |
152,688 |
|
|
$ |
23,370 |
|
|
$ |
504,392 |
|
Additions for acquisitions |
|
|
69,446 |
|
|
|
— |
|
|
|
8,910 |
|
|
|
78,356 |
|
Adjustments to previously recorded goodwill |
|
|
(52 |
) |
|
|
— |
|
|
|
141 |
|
|
|
89 |
|
Goodwill at December 31, 2022 |
|
|
397,728 |
|
|
|
152,688 |
|
|
|
32,421 |
|
|
|
582,837 |
|
Additions for acquisitions |
|
|
35,071 |
|
|
|
601 |
|
|
|
44,274 |
|
|
|
79,946 |
|
Adjustments to previously recorded goodwill |
|
|
— |
|
|
|
(13 |
) |
|
|
225 |
|
|
|
212 |
|
Goodwill at December 31, 2023 |
|
$ |
432,799 |
|
|
$ |
153,276 |
|
|
$ |
76,920 |
|
|
$ |
662,995 |
|
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Schedule of Carrying Amount and Accumulated Amortization of Intangible Asset |
The carrying amount and accumulated amortization of each identifiable intangible asset category consisted of the following at December 31, 2023 and 2022:
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|
|
December 31, 2023 |
|
|
December 31, 2022 |
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|
|
|
(Amounts in Thousands) |
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|
(Amounts in Thousands) |
|
|
|
Estimated Useful Life |
|
Gross carrying value |
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|
Accumulated amortization |
|
|
Net carrying value |
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|
Gross carrying value |
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|
Accumulated amortization |
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|
Net carrying value |
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Customer and referral relationships |
|
5-10 years |
|
$ |
44,672 |
|
|
$ |
(39,566 |
) |
|
$ |
5,106 |
|
|
$ |
44,672 |
|
|
$ |
(38,088 |
) |
|
$ |
6,584 |
|
Trade names and trademarks |
|
1-20 years |
|
|
59,566 |
|
|
|
(23,857 |
) |
|
|
35,709 |
|
|
|
52,046 |
|
|
|
(21,058 |
) |
|
|
30,988 |
|
Non-competition agreement |
|
3-5 years |
|
|
6,785 |
|
|
|
(5,601 |
) |
|
|
1,184 |
|
|
|
6,785 |
|
|
|
(4,785 |
) |
|
|
2,000 |
|
State Licenses |
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6-10 years |
|
|
12,671 |
|
|
|
(9,015 |
) |
|
|
3,656 |
|
|
|
12,517 |
|
|
|
(7,009 |
) |
|
|
5,508 |
|
State Licenses |
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Indefinite |
|
|
46,328 |
|
|
|
— |
|
|
|
46,328 |
|
|
|
27,108 |
|
|
|
— |
|
|
|
27,108 |
|
Total intangible assets |
|
|
|
$ |
170,022 |
|
|
$ |
(78,039 |
) |
|
$ |
91,983 |
|
|
$ |
143,128 |
|
|
$ |
(70,940 |
) |
|
$ |
72,188 |
|
|
Schedule of Future Amortization of Intangible Assets |
The estimated future intangible amortization expense is as follows:
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|
|
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For the year ended December 31, |
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Total (Amount in Thousands) |
|
2024 |
|
$ |
7,047 |
|
2025 |
|
|
5,424 |
|
2026 |
|
|
4,800 |
|
2027 |
|
|
4,178 |
|
2028 |
|
|
3,285 |
|
Thereafter |
|
|
20,921 |
|
Total, intangible assets subject to amortization |
|
$ |
45,655 |
|
|