Note 5 - Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2026

Notes to Financial Statements

Intangible Asset and Goodwill [Text Block]

5. Goodwill and Intangible Assets

A summary of the goodwill by segment and related adjustments is provided below:

		*Hospice*				*Personal Care*				*Home Health*				*Total*
		(Amounts in Thousands)
Goodwill as of December 31, 2025		$	432,866			$	468,981			$	94,849			$	996,696
Additions for acquisitions			—				11,332				—				11,332
Adjustments to previously recorded goodwill			(14	)			41				(2	)			25
Goodwill as of June 30, 2026		$	432,852			$	480,354			$	94,847			$	1,008,053

On May 1, 2026, the Company completed its acquisition of substantially all of the assets of an Indiana limited liability company doing business as HomeCourt Home Care for $12.2 million (the “HomeCourt Acquisition”), with funding provided by available cash. With the HomeCourt Acquisition, the Company expanded its personal care segment to Indiana and recognized goodwill in its personal care segment of $11.3 million.

The Company’s identifiable intangible assets consist of customer and referral relationships, trade names and trademarks, non-competition agreements, and state licenses. Amortization is computed using straight-line and accelerated methods based upon the estimated useful lives of the respective assets, which range from one to twenty years. Customer and referral relationships are amortized systematically over the periods of expected economic benefit, which range from three to fifteen years.

The carrying amount and accumulated amortization of each identifiable intangible asset category consisted of the following:

					*June 30, 2026*												*December 31, 2025*
					(Amounts in Thousands)												(Amounts in Thousands)
		*Estimated Useful*			*Gross*				*Accumulated*				*Net*				*Gross*				*Accumulated*				*Net*
		*Life (years)*			*carrying value*				*amortization*				*carrying value*				*carrying value*				*amortization*				*carrying value*
Customer and referral relationships		3 - 15			$	34,026			$	(33,643	)		$	383			$	34,201			$	(33,656	)		$	545
Trade names and trademarks		1 - 20				57,987				(27,472	)			30,515				59,366				(26,535	)			32,831
Non-competition agreement		3 - 5				7,038				(6,729	)			309				6,728				(6,663	)			65
State Licenses		6 - 10				27,069				(5,508	)			21,561				26,529				(4,190	)			22,339
State Licenses		Indefinite				46,630				—				46,630				46,630				—				46,630
Total intangible assets					$	172,750			$	(73,352	)		$	99,398			$	173,454			$	(71,044	)		$	102,410

During the six months ended June 30, 2026, the Company acquired state licenses and a non-competition agreement of $0.6 million and $0.3 million, respectively, in its personal care services segment related to the HomeCourt Acquisition.

Amortization expense related to the intangible assets was $2.0 million and $3.9 million for the three and six months ended June 30, 2026, respectively, and $2.0 million and $4.0 million for the three and six months ended June 30, 2025, respectively. The weighted average remaining useful lives of identifiable intangible assets as of June 30, 2026 was 8.76 years.