XML 42 R23.htm IDEA: XBRL DOCUMENT v3.24.0.1
SEGMENT INFORMATION
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Our operations involve servicing patients through our three reportable business segments: home health, hospice and high acuity care. We divested our personal care business on March 31, 2023. Our home health segment delivers a wide range of services in the homes of individuals who may be recovering from surgery, have a chronic disability or terminal illness or need assistance with completing important tasks. Our hospice segment provides palliative care and comfort to terminally ill patients and their families. Our high acuity care segment delivers the essential elements of inpatient hospital, palliative and SNF care to patients in their homes. Our personal care segment provided patients with assistance with the essential activities of daily living. The “other” column in the following tables consists of costs relating to executive management and administrative support functions, primarily information services, accounting, finance, billing and collections, legal, compliance, risk management, procurement, marketing, clinical administration, training, human resources and administration.
In connection with our reorganization initiatives, management has revised its measurement of our reportable segments' operating income (loss). Effective January 1, 2023, we transitioned corporate functions that were previously included within our high acuity care segment to the corporate support function in order to realize operational efficiencies. Additionally, effective January 1, 2023, we transitioned from the high acuity care segment to the home health segment the operations of a home health care center that was contributed to the high acuity care segment by one of our health system partners during 2022. Prior periods have been recast to conform to the current year presentation.
Management evaluates performance and allocates resources based on the operating income of the reportable segments, which includes an allocation of corporate expenses attributable to the specific segment and includes revenues and all other costs directly attributable to the specific segment. Segment assets are not reviewed by the company’s chief operating decision maker and therefore are not disclosed below (amounts in millions).
For the Year Ended December 31, 2023
Home HealthHospice
Personal 
Care(1)
High Acuity Care
Other(2)
Total
Net service revenue$1,403.6 $798.8 $15.0 $19.0 $— $2,236.4 
Cost of service, inclusive of depreciation801.1 412.2 11.1 21.1 — 1,245.5 
General and administrative expenses363.5 193.1 2.3 20.4 237.5 816.8 
Depreciation and amortization6.0 3.0 — 3.1 5.6 17.7 
Operating expenses1,170.6 608.3 13.4 44.6 243.1 2,080.0 
Operating income (loss)$233.0 $190.5 $1.6 $(25.6)$(243.1)$156.4 
(1)We divested our personal care business on March 31, 2023.
(2)General and administrative expenses for our corporate support function includes $36.7 million in merger-related expenses.
For the Year Ended December 31, 2022
Home HealthHospicePersonal CareHigh Acuity CareOtherTotal
Net service revenue$1,361.7 $787.8 $61.4 $12.3 $— $2,223.2 
Cost of service773.9 426.5 46.7 13.3 — 1,260.4 
General and administrative expenses351.1 203.3 9.2 19.7 170.8 754.1 
Depreciation and amortization4.0 2.3 0.1 3.3 15.2 24.9 
Investment impairment— — — 3.0 — 3.0 
Operating expenses1,129.0 632.1 56.0 39.3 186.0 2,042.4 
Operating income (loss)$232.7 $155.7 $5.4 $(27.0)$(186.0)$180.8 
For the Year Ended December 31, 2021
Home HealthHospicePersonal CareHigh Acuity CareOtherTotal
Net service revenue$1,353.8 $791.8 $65.0 $3.5 $— $2,214.1 
Other operating income7.3 6.0 — — — 13.3 
Cost of service756.6 425.2 49.1 2.5 — 1,233.4 
General and administrative expenses328.5 198.4 11.2 6.6 166.5 711.2 
Depreciation and amortization4.3 2.7 0.2 1.3 22.4 30.9 
Operating expenses1,089.4 626.3 60.5 10.4 188.9 1,975.5 
Operating income (loss)$271.7 $171.5 $4.5 $(6.9)$(188.9)$251.9