Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 08, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'GENTIVA HEALTH SERVICES INC | ' |
Entity Central Index Key | '0001096142 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 36,895,586 |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $106,155 | $86,957 |
Accounts receivable, less allowance for doubtful accounts of $11,990 and $10,680 at June 30, 2014 and December 31, 2013, respectively | 280,731 | 289,905 |
Deferred tax assets, net | 24,287 | 28,153 |
Prepaid expenses and other current assets | 54,773 | 64,746 |
Total current assets | 465,946 | 469,761 |
Note receivable from CareCentrix | 28,471 | 28,471 |
Fixed assets, net | 44,948 | 49,375 |
Intangible assets, net | 253,178 | 256,282 |
Goodwill | 390,081 | 390,081 |
Other assets | 67,927 | 68,647 |
Total assets | 1,250,551 | 1,262,617 |
Current liabilities: | ' | ' |
Current portion of long-term debt | 49,200 | 45,325 |
Accounts payable | 14,585 | 15,659 |
Payroll and related taxes | 55,239 | 64,857 |
Deferred revenue | 48,936 | 43,864 |
Medicare liabilities | 17,360 | 23,894 |
Obligations under insurance programs | 76,605 | 82,634 |
Accrued nursing home costs | 20,554 | 22,219 |
Accrued interest expense | 17,010 | 17,239 |
Other accrued expenses | 54,295 | 59,779 |
Total current liabilities | 353,784 | 375,470 |
Long-term debt | 1,111,972 | 1,124,432 |
Deferred tax liabilities, net | 15,701 | 9,825 |
Other liabilities | 54,822 | 53,084 |
Gentiva shareholders' equity: | ' | ' |
Common stock, $0.10 par value; authorized 100,000,000 shares; issued 38,216,282 and 37,713,302 shares at June 30, 2014 and December 31, 2013, respectively | 3,822 | 3,771 |
Additional paid-in capital | 465,643 | 462,262 |
Treasury stock, 1,370,544 and 1,337,882 shares at June 30, 2014 and December 31, 2013, respectively | -19,165 | -18,773 |
Accumulated deficit | -740,004 | -750,329 |
Total Gentiva shareholders' deficit | -289,704 | -303,069 |
Noncontrolling interests | 3,976 | 2,875 |
Total deficit | -285,728 | -300,194 |
Total liabilities and shareholders' deficit | $1,250,551 | $1,262,617 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Accounts receivables, allowance for doubtful accounts | $11,990 | $10,680 |
Common stock, par value | $0.10 | $0.10 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 38,216,282 | 37,713,302 |
Treasury stock, shares | 1,370,544 | 1,337,882 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Income Statement [Abstract] | ' | ' | ' | ' | |
Net revenues | $498,040 | $414,424 | $985,545 | $830,015 | |
Cost of services sold | 267,350 | 218,947 | 540,418 | 440,520 | |
Gross profit | 230,690 | 195,477 | 445,127 | 389,495 | |
Selling, general and administrative expenses | -189,103 | -161,937 | -378,123 | -321,814 | |
Goodwill and other long-lived asset impairment | 0 | 0 | 0 | -224,320 | [1] |
Interest income | 633 | 642 | 1,266 | 1,427 | |
Interest expense and other | -25,322 | -22,790 | -50,453 | -45,868 | |
Income (loss) before income taxes | 16,898 | 11,392 | 17,817 | -201,080 | |
Income tax (expense) benefit | -6,899 | -4,829 | -7,320 | 587 | |
Net income (loss) | 9,999 | 6,563 | 10,497 | -200,493 | |
Less: Net income attributable to noncontrolling interests | 12 | -216 | -172 | -337 | |
Net income (loss) attributable to Gentiva shareholders | 10,011 | 6,347 | 10,325 | -200,830 | |
Comprehensive income (loss) | $9,999 | $6,563 | $10,497 | ($200,493) | |
Net income (loss) attributable to Gentiva shareholders: | ' | ' | ' | ' | |
Basic | $0.28 | $0.21 | $0.28 | ($6.51) | |
Diluted | $0.27 | $0.20 | $0.28 | ($6.51) | |
Weighted average shares outstanding: | ' | ' | ' | ' | |
Basic | 36,298 | 30,941 | 36,243 | 30,863 | |
Diluted | 36,927 | 31,239 | 36,790 | 30,863 | |
[1] | (2)At March 31, 2013, the Company performed an interim impairment test of its Hospice reporting unit. Based on the results of the interim impairment test, the Company recorded a non-cash impairment charge relating to goodwill of approximately $220.8 million. As part of that analysis, the Company reviewed the valuation of its owned real estate utilized in the Hospice business. The analysis indicated that two of the Company's hospice inpatient units had estimated fair values lower than their carrying values and, as such, the Company recorded a non-cash impairment charge of approximately $1.9 million. See Note 9.In addition, the Company conducted an evaluation of the various systems used to support its field operations. In connection with that review, the Company made a strategic decision to replace its business intelligence software platform and, as such, recorded a non-cash impairment charge, related to developed software, of approximately $1.6 million.Hospice and corporate assets were reduced by $220.8 million and $3.5 million, respectively, as a result of the impairment. |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | |
OPERATING ACTIVITIES: | ' | ' | |
Net income (loss) | $10,497 | ($200,493) | |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | |
Depreciation and amortization | 12,815 | 9,511 | |
Amortization of debt issuance costs | 3,181 | 6,463 | |
Provision for doubtful accounts | 3,800 | 2,680 | |
Equity-based compensation expense | 4,387 | 3,969 | |
Windfall tax benefits associated with equity-based compensation | -21 | -82 | |
Goodwill and other long-lived asset impairment | 0 | 224,320 | [1] |
Deferred income tax expense (benefit) | 6,192 | -7,983 | |
Changes in assets and liabilities, net of effects from acquisitions and dispositions: | ' | ' | |
Accounts receivable | 5,374 | -3,919 | |
Prepaid expenses and other current assets | 9,973 | 1,727 | |
Accounts payable | -1,074 | -739 | |
Payroll and related taxes | -9,618 | -3,346 | |
Deferred revenue | 5,072 | 619 | |
Medicare liabilities | -6,534 | -11,087 | |
Obligations under insurance programs | -6,029 | 1,010 | |
Accrued nursing home costs | -1,665 | 1,438 | |
Other accrued expenses | -4,394 | -15,600 | |
Other, net | 678 | 1,678 | |
Net cash (used in) provided by operating activities | 32,634 | 10,166 | |
INVESTING ACTIVITIES: | ' | ' | |
Purchase of fixed assets | -6,032 | -7,521 | |
Proceeds from sale of businesses, net of cash transferred | 0 | 508 | |
Net cash used in investing activities | -6,032 | -7,013 | |
FINANCING ACTIVITIES: | ' | ' | |
Proceeds from issuance of common stock | 1,276 | 1,852 | |
Windfall tax benefits associated with equity-based compensation | 21 | 82 | |
Payment of contingent consideration accrued at acquisition date | 0 | -1,500 | |
Repayment of long-term debt | -9,163 | -25,000 | |
Minority interest capital contribution | 1,160 | 0 | |
Distribution to minority interests | -231 | -356 | |
Other | -467 | -161 | |
Net cash used in financing activities | -7,404 | -25,083 | |
Net change in cash and cash equivalents | 19,198 | -21,930 | |
Cash and cash equivalents at beginning of period | 86,957 | 207,052 | |
Cash and cash equivalents at end of period | 106,155 | 185,122 | |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ' | ' | |
Interest paid | 47,224 | 39,069 | |
Income taxes paid | $341 | $522 | |
[1] | (2)At March 31, 2013, the Company performed an interim impairment test of its Hospice reporting unit. Based on the results of the interim impairment test, the Company recorded a non-cash impairment charge relating to goodwill of approximately $220.8 million. As part of that analysis, the Company reviewed the valuation of its owned real estate utilized in the Hospice business. The analysis indicated that two of the Company's hospice inpatient units had estimated fair values lower than their carrying values and, as such, the Company recorded a non-cash impairment charge of approximately $1.9 million. See Note 9.In addition, the Company conducted an evaluation of the various systems used to support its field operations. In connection with that review, the Company made a strategic decision to replace its business intelligence software platform and, as such, recorded a non-cash impairment charge, related to developed software, of approximately $1.6 million.Hospice and corporate assets were reduced by $220.8 million and $3.5 million, respectively, as a result of the impairment. |
Background_and_Basis_of_Presen
Background and Basis of Presentation | 6 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Background and Basis of Presentation | ' |
Background and Basis of Presentation | |
Gentiva Health Services, Inc. (“Gentiva” or the “Company”) provides home health, hospice and community care services throughout most of the United States. The Company’s operations involve servicing its patients and customers through its (i) Home Health segment, (ii) Hospice segment and (iii) Community Care segment. | |
The accompanying interim consolidated financial statements are unaudited and have been prepared by the Company using accounting principles consistent with those described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of management, include all adjustments necessary for a fair statement of financial position, results of operations and cash flows for each period presented. Certain information and disclosures normally included in the consolidated statements of financial position, comprehensive income and cash flows prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") have been condensed or omitted as permitted by such rules and regulations. Results for interim periods are not necessarily indicative of results for a full year. The year-end balance sheet data was derived from audited financial statements. | |
The Company’s consolidated financial statements include the accounts and operations of the Company and its subsidiaries in which the Company owns more than a 50 percent interest. Noncontrolling interests, which relate to the minority ownership held by third party investors in certain of the Company’s hospice and home health programs, are reported below net income (loss) under the heading “Net loss (income) attributable to noncontrolling interests” in the Company’s consolidated statements of comprehensive income and presented as a component of equity in the Company’s consolidated balance sheets. All balances and transactions between the consolidated entities have been eliminated. |
Accounting_Policies
Accounting Policies | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Accounting Policies | ' |
Accounting Policies | |
Cash and Cash Equivalents | |
The Company considers all investments with a maturity date three months or less from their date of acquisition to be cash equivalents, including money market funds invested in U.S. Treasury securities, short-term treasury bills and commercial paper. Cash and cash equivalents also included amounts on deposit with several major financial institutions in excess of the maximum amount insured by the Federal Deposit Insurance Corporation. Management believes that these major financial institutions are viable entities. | |
The Company had operating funds of approximately $2.9 million and $5.5 million at June 30, 2014 and December 31, 2013, respectively, which relate exclusively to a non-profit hospice operation managed in Florida. | |
Investments | |
As of June 30, 2014 and December 31, 2013, the Company held an investment, at cost, in CareCentrix Holdings Inc. of $0.9 million for shares that it expects to receive in settlement of certain tax amounts owed to the Company as set forth in the stock purchase agreement. | |
At June 30, 2014 and December 31, 2013, the Company had assets of $36.8 million and $34.7 million, respectively, held in a Rabbi Trust for the benefit of participants in the Company’s non-qualified defined contribution retirement plan. The corresponding amounts payable to the plan participants are equivalent to the underlying value of the assets held in the Rabbi Trust. Assets held in a Rabbi Trust and amounts payable to plan participants are classified in other assets and other liabilities, respectively, in the Company’s consolidated balance sheets. | |
Debt Issuance Costs | |
The Company amortizes deferred debt issuance costs over the term of its credit agreement and senior notes. As of June 30, 2014 and December 31, 2013, the Company had unamortized debt issuance costs of $25.7 million and $28.3 million, respectively, recorded in other assets in the Company’s consolidated balance sheets. | |
Fixed Assets | |
Fixed assets, including costs of Company developed software, are stated at cost and depreciated over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized over the shorter of the life of the lease or the life of the improvement. Repairs and maintenance costs are expensed as incurred. As of June 30, 2014 and December 31, 2013, fixed assets, net were $44.9 million and $49.4 million, respectively. | |
At March 31, 2013, the Company performed an interim impairment test of its Hospice reporting unit. As part of that analysis, the Company reviewed the valuation of its owned real estate utilized in the Hospice business. The analysis indicated that two of the Company's hospice inpatient units had estimated fair values lower than their carrying values and, as such, the Company recorded a non-cash impairment charge of approximately $1.9 million. These charges are recorded in goodwill and other long-lived asset impairment in the Company's consolidated financial statements for the six months ended June 30, 2013. | |
In addition, the Company conducted an evaluation of the various systems used to support its field operations. In connection with that review, the Company made a strategic decision to replace its business intelligence software platform and, as such, recorded a non-cash impairment charge related to developed software, of approximately $1.6 million, which is reflected in goodwill and other long-lived asset impairment in the Company's consolidated financial statements for the six months ended June 30, 2013. | |
Goodwill and Other Indefinite-Lived Intangible Assets | |
The Company is required to test goodwill and other indefinite-lived intangible assets for impairment on an annual basis and between annual tests if current events or circumstances require an interim impairment assessment. The Company allocates goodwill to its various reporting units upon the acquisition of the assets or stock of another third party business operation. The Company compares the fair value of each reporting unit to its carrying amount to determine if there is a potential impairment of goodwill and other indefinite-lived intangible assets. If the fair value of a reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the operating unit is less than the carrying value of its goodwill. To determine the fair value of the Company's reporting units, the Company uses a present value (discounted cash flow) technique corroborated by market multiples when available, a reconciliation to market capitalization or other valuation methodologies, and reasonableness tests, as appropriate. | |
If the carrying amount of an indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized. Fair values of other indefinite-lived intangible assets are determined based on discounted cash flows or appraised values, as appropriate. | |
At March 31, 2013, the Company performed an interim impairment test of its Hospice reporting unit. Based on the results of the interim impairment test, the Company recorded a non-cash impairment charge relating to goodwill of approximately $220.8 million, which is reflected in goodwill and other long-lived asset impairment in the Company's consolidated financial statements for the six months ended June 30, 2013. See Note 9 for additional information. | |
Obligations Under Self Insurance Programs | |
As of June 30, 2014 and December 31, 2013, the Company’s obligations under insurance programs were $76.6 million and $82.6 million, respectively. Workers’ compensation and professional and general liability expenses were $3.6 million and $10.0 million for the second quarter and first six months of 2014, respectively, as compared to $5.9 million and $12.6 million for the corresponding periods of 2013. Employee health and welfare expenses were $23.0 million and $46.4 million for the second quarter and first six months of 2014, respectively, as compared to $22.4 million and $43.0 million for the corresponding periods of 2013. | |
Nursing Home Costs | |
For patients receiving nursing home care under a state Medicaid program who elect hospice care under Medicare or Medicaid, the Company contracts with nursing homes for the nursing homes to provide patients’ room and board services. The state must pay the Company, in addition to the applicable Medicare or Medicaid hospice daily or hourly rate, an amount equal to at least 95 percent of the Medicaid daily nursing home rate for room and board furnished to the patient by the nursing home. Under the Company’s standard nursing home contracts, the Company pays the nursing home for these room and board services at the Medicaid daily nursing home rate. Nursing home costs are partially offset by nursing home net revenue, and the net amount is included in cost of services sold in the Company’s consolidated statements of comprehensive income. Net nursing home costs for the second quarter and first six months of 2014 were $2.6 million and $4.4 million, respectively, as compared to $2.8 million and $5.4 million for the corresponding periods of 2013. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
On May 28. 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for reporting periods beginning after December 15, 2016. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. | |
On July 18, 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740) (ASU 2013-11), which provides final guidance that requires an entity to net its liability for unrecognized tax positions against a net operating loss carryforward, a similar tax loss or a tax credit carryforward when settlement in this manner is available under the tax law. The provisions of this new guidance were effective as of the beginning of the Company's 2014 year. The adoption of this new guidance did not have a material impact on the Company’s consolidated financial statements. |
Acquisitions_and_Dispositions
Acquisitions and Dispositions | 6 Months Ended |
Jun. 30, 2014 | |
Business Combinations [Abstract] | ' |
Acquisitions and Dispositions | ' |
Acquisitions and Dispositions | |
Wake Forest Baptist Health Care at Home, LLC | |
Effective February 2014, the Company sold its Wilkesboro, North Carolina branch to Wake Forest Baptist Health Care at Home, LLC for $2.9 million. Total Care Home Health of North Carolina, LLC, a wholly-owned subsidiary of the Company, owns a 60 percent interest in Wake Forest Baptist Health Care at Home, LLC, which provides home health services in the Winston-Salem and Wilkesboro, North Carolina geographical areas. | |
Harden Healthcare Holdings, Inc. | |
Effective October 18, 2013, the Company completed the acquisition of certain net assets relating to the home health, hospice and community care businesses of Harden Healthcare Holdings, Inc. ("Harden") pursuant to an Agreement and Plan of Merger dated as of September 18, 2013. The Company completed the acquisition as an entrance into the community care business, primarily throughout Texas, Oklahoma and Missouri, and to expand its geographic coverage for its home health and hospice businesses. Total consideration for the acquisition was $426.8 million, exclusive of transaction costs, consisting of approximately $365.0 million in cash, $53.8 million in shares of Gentiva's common stock and additional contingent consideration of $9.5 million, recorded at estimated fair value of approximately $8.1 million. The contingent consideration includes (i) a consulting agreement entered into with Capstar Partners, LLC, (ii) a sub-lease termination agreement entered into with Capstar Investment Partners, L.P., both which carry performance criteria tied to certain levels of community care program reimbursement rates in the State of Texas, as defined in the agreements, and (iii) a consulting agreement entered into with a former executive of Harden. | |
Hope Hospice, Inc. | |
Effective April 30, 2013, the Company completed its acquisition of the assets and business, pursuant to an asset purchase agreement, of Hope Hospice, Inc., a provider of hospice services located in Rochester, Indiana. Total non-cash consideration of $1.0 million consisted of the assumption of Hope Hospice's outstanding debt and existing liabilities as of the closing date. The purchase price was allocated to Medicare licenses ($0.5 million), accounts receivable ($0.3 million) and goodwill ($0.2 million). |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | ' | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
The Company’s financial instruments are measured and recorded at fair value on a recurring basis, except for the notes receivable from CareCentrix and long-term debt. The fair values for the notes receivable from CareCentrix and non-financial assets, such as fixed assets, intangible assets and goodwill, are measured periodically and adjustments recorded only if an impairment charge is required. The carrying amount of the Company’s accounts receivable, accounts payable and certain other current liabilities approximates fair value due to their short maturities. | ||||||||||||||||||||||||||||||||
Fair value is defined under authoritative guidance as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The three levels of inputs are as follows: | ||||||||||||||||||||||||||||||||
• | Level 1—Quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||||||||||||||||
• | Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||||||||||||||||
• | Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||||||||||||||||||
Financial Instruments Recorded at Fair Value | ||||||||||||||||||||||||||||||||
The Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis was as follows (in thousands): | ||||||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Money market funds | $ | 23,087 | $ | — | $ | — | $ | 23,087 | $ | 23,695 | $ | — | $ | — | $ | 23,695 | ||||||||||||||||
Rabbi Trust: | ||||||||||||||||||||||||||||||||
Mutual funds | 31,446 | — | — | 31,446 | 28,945 | — | — | 28,945 | ||||||||||||||||||||||||
Money market funds | 5,315 | — | — | 5,315 | 5,737 | — | — | 5,737 | ||||||||||||||||||||||||
Total assets | $ | 59,848 | $ | — | $ | — | $ | 59,848 | $ | 58,377 | $ | — | $ | — | $ | 58,377 | ||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Payables to plan participants | $ | 36,761 | $ | — | $ | — | $ | 36,761 | $ | 34,682 | $ | — | $ | — | $ | 34,682 | ||||||||||||||||
Acquisition contingent liability | — | — | 8,232 | 8,232 | — | — | 8,110 | 8,110 | ||||||||||||||||||||||||
Total liabilities | $ | 36,761 | $ | — | $ | 8,232 | $ | 44,993 | $ | 34,682 | $ | — | $ | 8,110 | $ | 42,792 | ||||||||||||||||
Assets held in the Rabbi Trust are held for the benefit of participants in the Company’s non-qualified defined contribution retirement plan. The value of assets held in the Rabbi Trust is based on quoted market prices of securities and investments, including money market accounts and mutual funds, maintained within the Rabbi Trust. The corresponding amounts payable to plan participants are equivalent to the underlying value of assets held in the Rabbi Trust. Assets held in the Rabbi Trust and amounts payable to plan participants are classified in other assets and other liabilities, respectively, in the Company’s consolidated balance sheets. Money market funds held in the Company’s account represent cash equivalents and were classified in cash and cash equivalents in the Company’s consolidated balance sheets at June 30, 2014 and December 31, 2013. | ||||||||||||||||||||||||||||||||
The estimated fair value of the acquisition contingent liabilities were determined using a discounted cash flow approach utilizing level 2 and level 3 inputs which included observable market discount rates, fixed payment schedules, and assumptions based on achieving certain pre-defined performance criteria. See Note 4 for further information. | ||||||||||||||||||||||||||||||||
The following table provides a summary of changes in fair value of the Company's Level 3 financial assets (in thousands): | ||||||||||||||||||||||||||||||||
Estimated Fair Value | ||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 8,110 | ||||||||||||||||||||||||||||||
Payment of contingent liability | (63 | ) | ||||||||||||||||||||||||||||||
Included in earnings | 185 | (1) | ||||||||||||||||||||||||||||||
Balance at June 30, 2014 | $ | 8,232 | ||||||||||||||||||||||||||||||
-1 | Accretion of the present value of the contingent liability is recorded in interest expense and other in the Company's consolidated statements of comprehensive income. A 1 percent change in the discount rate would have an impact on the fair value of the contingent liability of approximately $0.2 million. | |||||||||||||||||||||||||||||||
Other Financial Instruments | ||||||||||||||||||||||||||||||||
The carrying amount and estimated fair value of the Company’s other financial instruments were as follows (in thousands): | ||||||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||||||||||||
Amount | Fair Value | Amount | Fair Value | |||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Note receivable from CareCentrix | $ | 25,000 | $ | 25,661 | $ | 25,000 | $ | 26,403 | ||||||||||||||||||||||||
Seller financing note receivable from CareCentrix | 3,471 | 3,471 | 3,471 | 3,471 | ||||||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Long-term obligations | $ | 1,167,838 | $ | 1,187,735 | $ | 1,177,000 | $ | 1,183,863 | ||||||||||||||||||||||||
The estimated fair value of the note receivable from CareCentrix was determined from Level 3 inputs based on an income approach using the discounted cash flow method. The fair value represents the net present value of (i) the after tax cash flows relating to the note's annual income stream plus (ii) the return of the invested principal using a maturity date of March 19, 2017, after considering assumptions relating to risk factors and economic conditions. The estimated fair value of the seller financing note receivable from CareCentrix approximates its carrying amount due to the expected pay-off of the note as part of a proposed settlement with the owners of CareCentrix. See Note 7 for additional information. | ||||||||||||||||||||||||||||||||
In determining the estimated fair value of long-term debt, Level 2 inputs based on the use of bid and ask prices were considered. Due to the infrequent number of transactions that occur related to the long-term debt, the Company does not believe an active market exists for purposes of this disclosure. |
Net_Revenues_and_Accounts_Rece
Net Revenues and Accounts Receivable | 6 Months Ended | |||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||
Net Revenues and Accounts Receivable [Abstract] | ' | |||||||||||||||||||||
Net Revenues And Accounts Receivable | ' | |||||||||||||||||||||
Net Revenues and Accounts Receivable | ||||||||||||||||||||||
Net revenues in the Home Health and Hospice segments were derived from all major payer classes, while Community Care segment net revenues were derived primarily from Medicaid and Insurance payer classes. Net revenue by major payer classes were as follows (in millions): | ||||||||||||||||||||||
Second Quarter | First Six Months | |||||||||||||||||||||
2014 | 2013 | Percentage | 2014 | 2013 | Percentage | |||||||||||||||||
Variance | Variance | |||||||||||||||||||||
Medicare: | ||||||||||||||||||||||
Home Health | $ | 218.4 | $ | 192.7 | 13.3 | % | $ | 427.2 | $ | 385.9 | 10.7 | % | ||||||||||
Hospice | 161.5 | 167.8 | (3.7 | )% | 324.7 | 335 | (3.1 | )% | ||||||||||||||
Total Medicare | 379.9 | 360.5 | 5.4 | % | 751.9 | 720.9 | 4.3 | % | ||||||||||||||
Medicaid and Local Government | 70.7 | 18.7 | 279 | % | 141.8 | 36.9 | 284.1 | % | ||||||||||||||
Commercial Insurance and Other: | ||||||||||||||||||||||
Paid at episodic rates | 17.8 | 14 | 27.9 | % | 33.4 | 28.2 | 18.6 | % | ||||||||||||||
Other | 29.6 | 21.2 | 39 | % | 58.4 | 44 | 32.8 | % | ||||||||||||||
Total Commercial Insurance and Other | 47.4 | 35.2 | 34.6 | % | 91.8 | 72.2 | 27.2 | % | ||||||||||||||
Total net revenues | $ | 498 | $ | 414.4 | 20.2 | % | $ | 985.5 | $ | 830 | 18.7 | % | ||||||||||
For the second quarter and first six months of 2014, the Company recorded hospice Medicare cap expense of $0.9 million and $1.0 million, respectively, as compared to hospice Medicare cap credits of $1.4 million and $1.5 million for the second quarter and first six months of 2013, respectively, which are reflected in net revenues in the Company’s consolidated statements of comprehensive income. For the Medicare cap year 2014, which began November 1, 2013, the Company has recorded $1.4 million in Medicare cap expense and has six hospice providers currently estimated to be in excess of Medicare cap limits. | ||||||||||||||||||||||
The Medicare payment cap, which is calculated for each provider by the Medicare fiscal intermediary at the end of the hospice cap period, is determined under the proportional method. The proportional method allocates each beneficiary's Medicare payment cap based on the ratio of the number of days the beneficiary received hospice services from the Company over the total number of days the beneficiary received hospice services from all providers. The Medicare payment cap amount is then further allocated between the hospice cap periods based on the ratio of the number of days the Company provided hospices services during each cap period. The sum of each beneficiary's Medicare cap payment, as determined above, represents the aggregate Medicare payment cap. Medicare revenue paid to a provider during the hospice cap period cannot exceed the aggregate Medicare payment cap. As of June 30, 2014 and December 31, 2013, the Company had Medicare cap liabilities of $4.1 million and $6.5 million, respectively, which are reflected in Medicare liabilities in the Company’s consolidated balance sheets. | ||||||||||||||||||||||
Odyssey HealthCare, Inc. ("Odyssey"), prior to its acquisition by Gentiva, filed appeals with Centers for Medicare & Medicaid Services ("CMS") to change the methodology previously used to calculate the Medicare payment cap in order to utilize the proportional method of determining the payment cap, as described above. This method allocates the Medicare payment cap over the cap years that the beneficiary is on service. In connection with those appeals, the Company has received final settlement letters for many of its providers and recorded approximately $2.4 million as net revenue for the second quarter and first six months of 2013 in the Company's consolidated statements of comprehensive income. | ||||||||||||||||||||||
Corporate Integrity Agreement | ||||||||||||||||||||||
Under Odyssey's five-year Corporate Integrity Agreement ("CIA") with the Office of Inspector General of the United States Department of Health and Human Services ("OIG"), which became effective on February 15, 2012, Odyssey must engage a third party to perform verification and unallowable cost reviews. In addition, Odyssey's eligibility review team must review the eligibility of Odyssey's Medicare beneficiaries for the hospice services those beneficiaries received and prepare an eligibility review report. Odyssey must submit to the OIG annually a report with respect to the status of, and findings regarding, Odyssey's compliance activities. Any overpayments identified by Odyssey are paid back to the various Medicare administrative contractors by April 1st of the following year. If Odyssey fails to comply with the terms of the CIA, it will be subject to penalties. In connection with these eligibility reviews, the Company recorded reserves of approximately $1.1 million and $2.3 million for the second quarter and first six months of 2014, respectively, and $0.8 million and $1.6 million for the second quarter and first six months of 2013, respectively, which are reflected as a reduction of net revenues in the Company's consolidated statements of comprehensive income. | ||||||||||||||||||||||
Accounts Receivable | ||||||||||||||||||||||
Accounts receivable attributable to major payer sources of reimbursement were as follows (in thousands): | ||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||
Medicare | $ | 208,023 | $ | 214,366 | ||||||||||||||||||
Medicaid and Local Government | 48,251 | 48,183 | ||||||||||||||||||||
Commercial Insurance and Other | 36,447 | 38,036 | ||||||||||||||||||||
Gross accounts receivable | 292,721 | 300,585 | ||||||||||||||||||||
Less: Allowance for doubtful accounts | (11,990 | ) | (10,680 | ) | ||||||||||||||||||
Net accounts receivable | $ | 280,731 | $ | 289,905 | ||||||||||||||||||
As of June 30, 2014 and December 31, 2013, the Commercial Insurance and Other payer group included self-pay accounts receivable relating to patient co-payments of $2.3 million and $2.4 million, respectively. |
Investment_in_and_Notes_Receiv
Investment in and Notes Receivable from CareCentrix | 6 Months Ended |
Jun. 30, 2014 | |
Note Receivable from and Investment in Entity [Abstract] | ' |
Note Receivable from and Investment from CareCentrix | ' |
Investment in and Notes Receivable from CareCentrix | |
The Company holds a $25.0 million subordinated promissory note from CareCentrix, Inc. In connection with the sale of the Company’s ownership interest in CareCentrix Holdings on September 19, 2011, the maturity date of the note was extended to the earlier of March 19, 2017 or a sale of CareCentrix Holdings. The note bears interest at a fixed rate of 10 percent, which is payable quarterly, provided that CareCentrix remains in compliance with its senior debt covenants. Interest on the CareCentrix promissory note, which is included in interest income in the Company’s consolidated statements of comprehensive income, amounted to $0.6 million and $1.3 million for the second quarter and first six months, respectively, of both 2014 and 2013. | |
Pursuant to the terms of the stock purchase agreement, approximately $10.6 million of the sale price due to the Company was placed into an escrow fund for future indemnification claims. As of June 30, 2014, approximately $0.7 million of the escrow fund was paid out to cover expenses related to an indemnified claim. | |
On August 24, 2012, the Company received notification from CareCentrix of its election to draw seller financing from the escrow fund pursuant to the terms of the stock purchase agreement. As such, the Company reclassified its escrow receivable of approximately $9.9 million from prepaid expenses and other current assets to a seller financing note from CareCentrix on the Company's consolidated balance sheet as of September 30, 2012. The seller financing note receivable, which bears interest at 18 percent, matures on the earlier of March 19, 2017 or upon the sale of CareCentrix Holdings. Interest on this note is payable quarterly, in kind, and will accrete as additional principal on the note. The Company expects to record interest income at the time of receipt as the note is part of the proposed settlement discussed below. | |
On September 17, 2012, the Company received a formal notice of claims for indemnification from CareCentrix. In the notice, CareCentrix asserted that the total claimed amounts exceed the total amount in escrow and demanded that the entire principal amount of the seller financing note receivable be reduced to zero. In anticipation of a settlement of claims alleged by the owner of CareCentrix and working capital adjustments as set forth in the stock purchase agreement, during the fourth quarter of 2012, the Company recorded a $6.5 million adjustment to the seller financing note receivable to reflect its revised estimated fair value of $3.4 million. The Company also established an investment in CareCentrix of $0.9 million for shares that it may receive as part of any settlement. | |
The Company’s financing receivables consist of the previously described $25.0 million subordinated promissory note from CareCentrix, Inc. dated September 19, 2011 and a $3.4 million seller financing note receivable from CareCentrix, Inc. dated August 24, 2012. The Company measures impairment based on the present value of expected cash flows after considering assumptions relating to risk factors and economic conditions. On an ongoing basis, the Company assesses the credit quality based on the Company’s review of CareCentrix, Inc.’s financial position and receipt of interest payments when due. Based on the Company’s analysis, as of June 30, 2014 and December 31, 2013, the Company had no allowances for credit losses. |
Cost_Savings_Initiatives_and_A
Cost Savings Initiatives and Acquisition and Integration Activities | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||
Cost Savings Initiatives and Acquisition and Integration Activities | ' | |||||||||||
Cost Savings Initiatives and Acquisition and Integration Activities | ||||||||||||
The Company recorded net charges relating to cost savings initiatives and acquisition and integration activities of $4.7 million and $10.0 million for the second quarter and first six months of 2014, respectively, and $0.8 million and $0.9 million for the second quarter and first six months of 2013, respectively, which were recorded in selling, general and administrative expenses in the Company’s consolidated statements of comprehensive income. | ||||||||||||
Cost Savings Initiatives | ||||||||||||
During the fourth quarter of 2013, the Company undertook a corporate restructuring initiative, referred to as "One Gentiva", to better align its home health, hospice and community care businesses under a common regional management structure. In addition, the Company undertook a branch rationalization initiative to review under performing branches. As a result of this review, the Company closed or consolidated 94 branches through the second quarter of 2014. As such, the Company recorded charges of $1.4 million and $4.1 million for the second quarter and first six months of 2014, respectively, primarily related to severance and facility lease costs. | ||||||||||||
For both the second quarter and first six months of 2013, the Company recorded charges related to cost saving initiatives of $0.2 million. The Company completed its cost savings initiatives during the second quarter of 2014. | ||||||||||||
Acquisition and Integration Activities | ||||||||||||
The Company recorded charges of $3.3 million and $5.9 million for the second quarter and first six months of 2014, respectively, primarily related to the Company's acquisition of Harden. These costs consisted of (i) severance and lease costs associated with consolidation of branches in overlapping markets and consolidation of back office functions and (ii) legal, accounting and other professional fees and expenses associated with the transaction. The Company expects to complete its integration activities in early 2015. | ||||||||||||
During the second quarter and first six months of 2013, the Company recorded charges of $0.6 million and $0.7 million, respectively, primarily related to acquisition and integration activities associated with the Company's acquisition of Hope Hospice, Inc. | ||||||||||||
The costs incurred and cash expenditures associated with these activities by component were as follows (in thousands): | ||||||||||||
Cost Savings Initiatives | Acquisition & | Total | ||||||||||
Integration | ||||||||||||
Balance at December 31, 2012 | $ | 1,685 | $ | 1,011 | $ | 2,696 | ||||||
Charge in first quarter 2013 | 47 | 94 | 141 | |||||||||
Cash expenditures | (1,104 | ) | (322 | ) | (1,426 | ) | ||||||
Ending balance at March 31, 2013 | 628 | 783 | 1,411 | |||||||||
Charge in second quarter 2013 | 138 | 606 | 744 | |||||||||
Cash expenditures | (685 | ) | (234 | ) | (919 | ) | ||||||
Ending balance at June 30, 2013 | $ | 81 | $ | 1,155 | $ | 1,236 | ||||||
Balance at December 31, 2013 | $ | 6,722 | $ | 9,703 | $ | 16,425 | ||||||
Charge in first quarter 2014 | 2,713 | 2,628 | 5,341 | |||||||||
Cash expenditures | (3,443 | ) | (3,472 | ) | (6,915 | ) | ||||||
Non-cash expenditures | (60 | ) | (86 | ) | (146 | ) | ||||||
Ending balance at March 31, 2014 | 5,932 | 8,773 | 14,705 | |||||||||
Charge in second quarter 2014 | 1,409 | 3,250 | 4,659 | |||||||||
Cash expenditures | (2,994 | ) | (3,717 | ) | (6,711 | ) | ||||||
Non-cash expenditures | (276 | ) | 5 | (271 | ) | |||||||
Ending balance at June 30, 2014 | $ | 4,071 | $ | 8,311 | $ | 12,382 | ||||||
The balance of unpaid charges relating to cost savings initiatives and other restructuring costs and acquisition and integration activities approximated $12.4 million at June 30, 2014 and $16.4 million at December 31, 2013, which were included in other accrued expenses in the Company’s consolidated balance sheets. |
Identifiable_Intangible_Assets
Identifiable Intangible Assets and Goodwill | 6 Months Ended | |||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||
Identifiable Intangible Assets and Goodwill | ' | |||||||||||||||||||||||||||||||||
Identifiable Intangible Assets and Goodwill | ||||||||||||||||||||||||||||||||||
The Company is required to test goodwill and other indefinite-lived intangible assets for impairment on an annual basis and between annual tests if current events or circumstances require an interim impairment assessment. The Company allocates goodwill to its various reporting units upon the acquisition of the assets or stock of another third party business operation. The Company compares the fair value of each reporting unit to the carrying amount of their allocated net assets to determine if there is a potential impairment of goodwill. If the fair value of a reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than the carrying value of its goodwill. | ||||||||||||||||||||||||||||||||||
To determine the fair value of the Company's reporting units, the Company uses a present value (discounted cash flow) technique corroborated by market multiples when available, a reconciliation to market capitalization or other valuation methodologies and reasonableness tests, as appropriate. Determining the fair value of a reporting unit is judgmental in nature and requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates and future market conditions, among others. The future occurrence of a potential indicator of impairment, such as, but not limited to, a significant adverse change in legal factors or business climate, reductions of projected patient census, an adverse action or assessment by a regulator, as well as other unforeseen factors, would require an interim assessment for some or all of the reporting units. | ||||||||||||||||||||||||||||||||||
If the carrying amount of an indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized. Fair values of other indefinite-lived intangible assets are determined based on discounted cash flows or appraised values, as appropriate. | ||||||||||||||||||||||||||||||||||
The Company's operations include three reporting units: Home Health, Hospice and Community Care. At March 31, 2013, the Company determined that a triggering event had occurred due to lower than expected average daily census and higher than expected discharge rates during the quarter and performed an interim impairment test of its Hospice reporting unit. For purposes of the interim impairment test, the Company applied certain assumptions that included, but were not limited to, patient census projections, gross margin assumptions, operating efficiencies and economies of scale. To determine fair value, the Company considered the income approach, which determines fair value based on estimated future cash flows of the reporting unit, discounted by an estimated weighted-average cost of capital (“discount rate”), which reflects the overall level of inherent risk of a reporting unit and the rate of return an outside investor would expect to earn. The Company used a discount rate of 9.5 percent to calculate the fair value of its Hospice reporting unit. Based on the results of the interim impairment test, the Company's Hospice reporting unit had an estimated fair value of approximately $555 million. As such, the Company recorded a non-cash impairment charge relating to goodwill of approximately $220.8 million, which is reflected in goodwill and other long-lived asset impairment in the Company's consolidated comprehensive statement of income for the six months ended June 30, 2013. The impairment charge of $220.8 million previously reported in the first quarter of 2013 was overstated by $26.5 million and the impairment charge of $379.8 million previously reported in the fourth quarter of 2013 was understated by $26.5 million. For the year ended December 31, 2013, the total impairment charge of $600.6 million previously reported was appropriately stated. The Company assessed the materiality of this amount on previously issued financial statements and concluded that it was not material to any interim period. As a result, the Company has not revised or restated any prior periods. | ||||||||||||||||||||||||||||||||||
The gross carrying amount and accumulated amortization of each category of identifiable intangible assets as of June 30, 2014 and December 31, 2013 were as follows (in thousands): | ||||||||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | Useful | ||||||||||||||||||||||||||||||||
Life | ||||||||||||||||||||||||||||||||||
Home | Hospice | Community Care | Total | Home | Hospice | Community Care | Total | |||||||||||||||||||||||||||
Health | Health | |||||||||||||||||||||||||||||||||
Amortized intangible assets: | ||||||||||||||||||||||||||||||||||
Covenants not to compete | $ | 2,157 | $ | 16,183 | $ | 1,029 | $ | 19,369 | $ | 2,157 | $ | 16,183 | $ | 1,029 | $ | 19,369 | 2-5 Yrs | |||||||||||||||||
Less: accumulated amortization | (1,659 | ) | (15,795 | ) | (241 | ) | (17,695 | ) | (1,553 | ) | (15,720 | ) | (91 | ) | (17,364 | ) | ||||||||||||||||||
Net covenants not to compete | 498 | 388 | 788 | 1,674 | 604 | 463 | 938 | 2,005 | ||||||||||||||||||||||||||
Customer relationships | 27,196 | 910 | — | 28,106 | 27,196 | 910 | — | 28,106 | 5-10 Yrs | |||||||||||||||||||||||||
Less: accumulated amortization | (21,170 | ) | (526 | ) | — | (21,696 | ) | (19,997 | ) | (481 | ) | — | (20,478 | ) | ||||||||||||||||||||
accumulated impairment losses | (27 | ) | — | — | (27 | ) | (27 | ) | — | — | (27 | ) | ||||||||||||||||||||||
Net customer relationships | 5,999 | 384 | — | 6,383 | 7,172 | 429 | — | 7,601 | ||||||||||||||||||||||||||
Tradenames | 19,267 | 17,528 | 11,922 | 48,717 | 19,267 | 17,528 | 11,922 | 48,717 | 5-10 Yrs | |||||||||||||||||||||||||
Less: accumulated amortization | (12,532 | ) | (4,168 | ) | (837 | ) | (17,537 | ) | (11,992 | ) | (3,763 | ) | (227 | ) | (15,982 | ) | ||||||||||||||||||
accumulated impairment losses | (6,421 | ) | (13,122 | ) | — | (19,543 | ) | (6,421 | ) | (13,122 | ) | — | (19,543 | ) | ||||||||||||||||||||
Net tradenames | 314 | 238 | 11,085 | 11,637 | 854 | 643 | 11,695 | 13,192 | ||||||||||||||||||||||||||
Amortized intangible assets | 6,811 | 1,010 | 11,873 | 19,694 | 8,630 | 1,535 | 12,633 | 22,798 | ||||||||||||||||||||||||||
Indefinite-lived intangible assets: | ||||||||||||||||||||||||||||||||||
Medicare licenses and certificates of need | 245,545 | 113,399 | 26,011 | 384,955 | 245,545 | 113,399 | 26,011 | 384,955 | ||||||||||||||||||||||||||
Less: accumulated impairment | (144,672 | ) | (6,799 | ) | — | (151,471 | ) | (144,672 | ) | (6,799 | ) | — | (151,471 | ) | ||||||||||||||||||||
losses | ||||||||||||||||||||||||||||||||||
Net Medicare licenses and certificates of need | 100,873 | 106,600 | 26,011 | 233,484 | 100,873 | 106,600 | 26,011 | 233,484 | ||||||||||||||||||||||||||
Total identifiable intangible assets | $ | 107,684 | $ | 107,610 | $ | 37,884 | $ | 253,178 | $ | 109,503 | $ | 108,135 | $ | 38,644 | $ | 256,282 | ||||||||||||||||||
The Company recorded amortization expense of approximately $1.6 million and $3.1 million for the second quarter and first six months of 2014, respectively, and $1.3 million and $2.5 million for the second quarter and first six months of 2013, respectively. The estimated amortization expense for the remainder of 2014 is $2.6 million and for each of the next five succeeding years approximates $4.1 million for 2015, $3.1 million for 2016, $2.4 million for 2017, $1.6 million for 2018, and $1.3 million for 2019. | ||||||||||||||||||||||||||||||||||
The gross carrying amount of goodwill as of June 30, 2014 and December 31, 2013 and activity during the first six months of 2014 were as follows (in thousands): | ||||||||||||||||||||||||||||||||||
Goodwill, Gross | Accumulated Impairment Losses | |||||||||||||||||||||||||||||||||
Home Health | Hospice | Community Care | Total | Home Health | Hospice | Total | Net | |||||||||||||||||||||||||||
Balance at December 31, 2013: | $ | 386,824 | $ | 944,285 | $ | 116,645 | $ | 1,447,754 | $ | (263,370 | ) | $ | (794,303 | ) | $ | (1,057,673 | ) | $ | 390,081 | |||||||||||||||
Goodwill acquired during 2014 | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Balance at June 30, 2014: | $ | 386,824 | $ | 944,285 | $ | 116,645 | $ | 1,447,754 | $ | (263,370 | ) | $ | (794,303 | ) | $ | (1,057,673 | ) | $ | 390,081 | |||||||||||||||
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
Earnings Per Share | ||||||||||||||||
Basic and diluted earnings per share for each period presented have been computed by dividing net income (loss) attributable to Gentiva shareholders by the weighted average number of shares outstanding for each respective period. The computations of the basic and diluted per share amounts were as follows (in thousands, except per share amounts): | ||||||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||||||
30-Jun-14 | 30-Jun-13 | 30-Jun-14 | 30-Jun-13 | |||||||||||||
Net income (loss) attributable to Gentiva shareholders | $ | 10,011 | $ | 6,347 | $ | 10,325 | $ | (200,830 | ) | |||||||
Basic weighted average common shares outstanding | 36,298 | 30,941 | 36,243 | 30,863 | ||||||||||||
Shares issuable upon the assumed exercise of stock options and under stock plans for employees and directors using the treasury stock method | 629 | 298 | 547 | — | ||||||||||||
Diluted weighted average common shares outstanding | 36,927 | 31,239 | 36,790 | 30,863 | ||||||||||||
Earnings per share: | ||||||||||||||||
Basic | $ | 0.28 | $ | 0.21 | $ | 0.28 | $ | (6.51 | ) | |||||||
Diluted | $ | 0.27 | $ | 0.2 | $ | 0.28 | $ | (6.51 | ) | |||||||
Anti-dilutive shares by type: | ||||||||||||||||
Stock options | 3,122 | 3,106 | 3,025 | 2,866 | ||||||||||||
Performance share units | — | 80 | — | 80 | ||||||||||||
Restricted stock | 1 | 558 | — | 470 | ||||||||||||
Total anti-dilutive shares | 3,123 | 3,744 | 3,025 | 3,416 | ||||||||||||
For the second quarter and first six months of 2014, approximately 3.1 million and 3.0 million, respectively, of stock options and restricted stock awards were excluded from the computations of diluted earnings per share, as their inclusion would be anti-dilutive. For the second quarter and first six months of 2013, approximately 3.7 million and 3.4 million, respectively, of stock options, performance share units and restricted stock awards were excluded from the computations of diluted earnings per share as their inclusion would be anti-dilutive. |
LongTerm_Debt
Long-Term Debt | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Long-term Debt, Unclassified [Abstract] | ' | |||||||||||
Long-Term Debt | ' | |||||||||||
Long-Term Debt | ||||||||||||
Credit Arrangements | ||||||||||||
At June 30, 2014, the the Company’s credit arrangements included a senior secured credit agreement providing (i) a six-year $670 million Term Loan B facility, (ii) a five-year $155 million Term Loan C facility and (iii) a five-year $100 million revolving credit facility (collectively, the “Credit Agreement”), and $325 million aggregate principal amount of 11.5 percent Senior Notes due 2018 (the “Senior Notes”). The Credit Agreement’s revolving credit facility also includes borrowing capacity of $80 million available for letters of credit and $15 million for borrowings on same-day notice, referred to as swing line loans. | ||||||||||||
As of June 30, 2014 and December 31, 2013, the Company’s long-term debt consisted of the following (in thousands): | ||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||
Credit Agreement: | ||||||||||||
Term Loan B, maturing October 18, 2019, net of unamortized discount of $6,028 and $6,508 as of June 30, 2014 and December 31, 2013, respectively | $ | 660,622 | $ | 663,492 | ||||||||
Term Loan C, maturing October 18, 2018, net of unamortized discount of $638 and $735 as of June 30, 2014 and December 31, 2013, respectively | 148,550 | 154,265 | ||||||||||
11.5% Senior Notes due 2018 | 325,000 | 325,000 | ||||||||||
Revolving Credit Facility | 27,000 | 27,000 | ||||||||||
Total debt | 1,161,172 | 1,169,757 | ||||||||||
Less: current portion of long-term debt | (49,200 | ) | (45,325 | ) | ||||||||
Total long-term debt | $ | 1,111,972 | $ | 1,124,432 | ||||||||
As of June 30, 2014, advances under the revolving credit facility could be made, and letters of credit could be issued, up to the $100 million borrowing capacity of the facility at any time prior to the facility expiration date of October 18, 2018. Outstanding letters of credit were $53.2 million and $52.0 million at June 30, 2014 and December 31, 2013, respectively. The letters of credit were issued to guarantee payments under the Company’s workers’ compensation program and for certain other commitments. As of June 30, 2014, the Company’s unused and available borrowing capacity under the Credit Agreement was $19.8 million. As governed by the indenture covering the unsecured Senior Notes, the Company has a maximum permitted borrowing capacity, as defined, which may limit the Company's ability to borrow up to the full capacity of the revolving credit facility. | ||||||||||||
The Term Loan B facility is subject to mandatory principal payments of $6.7 million per year, payable in equal quarterly installments, with the remaining balance of the original $670 million loan payable on October 18, 2019. The Term Loan C facility is subject to mandatory principal payments, payable in quarterly installments. The mandatory principal payments for 2014 are $11.6 million and increase each year through the maturity date of the loan, October 18, 2018. | ||||||||||||
As of June 30, 2014, the mandatory aggregate principal payments of long-term debt were $49.2 million due during the twelve months ending June 30, 2015, $28.0 million due during the twelve months ending June 30, 2016, $33.8 million due during the twelve months ending June 30, 2017, $53.2 million due during the twelve months ending June 30, 2018, $45.5 million due during the twelve months ending June 30, 2019 and $633.1 million thereafter under the Credit Agreement, and $325.0 million due in September 2018 under the Senior Notes. The weighted average cash interest rate on outstanding borrowings was 7.8 percent per annum at June 30, 2014 and 8.2 percent per annum at December 31, 2013. | ||||||||||||
The Company may voluntarily repay outstanding loans under the revolving credit facility or the term loans at any time without premium or penalty, other than customary “breakage” costs with respect to LIBOR loans. Prepayment and commitment reductions will be required in connection with (i) certain asset sales, (ii) certain extraordinary receipts such as certain insurance proceeds, (iii) cash proceeds from the issuance of debt and (iv) 75 percent of “Excess Cash Flow” (as defined in the Credit Agreement) with two step-downs based on the Company’s leverage ratio. | ||||||||||||
The interest rate per annum on borrowings under the Credit Agreement is based on, at the option of the Company, (i) the Eurodollar Rate, adjusted for certain costs plus an Applicable Margin or (ii) the Base Rate, plus an Applicable Rate. The Base Rate represents the highest of (x) the Barclays Bank prime rate, (y) the federal funds rate plus 0.50 percent or (z) the Eurodollar Rate adjusted for certain costs plus 1.00 percent. In connection with determining the interest rates on the Term Loan B and Term Loan C facilities, in no event shall the Eurodollar Rate be less than 1.25 percent and the Base Rate be less than 2.25 percent. The Company may select interest periods of one, two, three or six months for Eurodollar Rate loans. Interest is payable at the end of the selected interest period. The Company must also pay a fee of 0.50 percent per annum on unused commitments under the revolving credit facility. As of June 30, 2014, the interest rate on Term Loan B borrowings was 6.50 percent, on Term Loan C borrowings was 5.75 percent and on revolving credit borrowings was 4.76 percent. | ||||||||||||
The Applicable Rate component of the interest rate under the Company's Credit Agreement is based on the Company's consolidated leverage ratio as follows: | ||||||||||||
Applicable Rates | ||||||||||||
Eurodollar Rate for Revolving Credit Facility and Letter of Credit Fees | Base Rate for Revolving Credit Facility | Term Loan B | Term Loan C | |||||||||
Consolidated | Eurodollar Rate | Base Rate | Eurodollar Rate | Base Rate | ||||||||
Leverage Ratio | ||||||||||||
> 4.0:1 | 4.50% | 3.50% | 5.25% | 4.25% | 4.50% | 3.50% | ||||||
< 4.0:1 | 4.25% | 3.25% | 5.25% | 4.25% | 4.50% | 3.50% | ||||||
Debt Covenants | ||||||||||||
The Credit Agreement contains a number of covenants that, among other things, restrict, subject to certain exceptions, the Company’s and its subsidiaries’ ability to incur additional indebtedness or issue certain preferred stock, create liens on assets, enter into sale and leaseback transactions, engage in mergers or consolidations with other companies, sell assets, pay dividends, repurchase capital stock, make investments, loans and advances, make certain acquisitions, engage in certain transactions with affiliates, amend material agreements, repay certain indebtedness, change the nature of the Company’s business, change accounting policies and practices, grant negative pledges and incur capital expenditures. The Credit Agreement also requires the Company to maintain a maximum consolidated leverage ratio, as calculated based on provisions in the Credit Agreement that provide for certain defined adjustments to consolidated EBITDA, and contains certain customary affirmative covenants and events of default. | ||||||||||||
Gentiva’s permitted maximum consolidated leverage ratio is set forth in the following table: | ||||||||||||
Four Quarters Ending | Maximum Consolidated | |||||||||||
Leverage Ratio | ||||||||||||
March 31, 2014 to March 31, 2015 | ≤ 6.75:1 | |||||||||||
June 30, 2015 to March 31, 2016 | ≤ 6.50:1 | |||||||||||
June 30, 2016 to March 31, 2017 | ≤ 6.25:1 | |||||||||||
June 30, 2017 to December 31, 2017 | ≤ 6.00:1 | |||||||||||
March 31, 2018 and each fiscal quarter thereafter | ≤ 5.75:1 | |||||||||||
As of June 30, 2014, the Company’s consolidated leverage ratio was 5.9x. As of June 30, 2014, the Company was in compliance with all covenants in the Credit Agreement. | ||||||||||||
Guaranty Agreement and Security Agreement | ||||||||||||
Gentiva and substantially all of its subsidiaries (the “Guarantor Subsidiaries”) entered into a guaranty agreement pursuant to which the Guarantor Subsidiaries have agreed, jointly and severally, fully and unconditionally to guarantee all of the Company’s obligations under the Credit Agreement. Additionally, Gentiva and its Guarantor Subsidiaries entered into a security agreement pursuant to which a first-priority security interest was granted in substantially all of the Company’s and its Guarantor Subsidiaries’ present and future real, personal and intangible assets, including the pledge of 100 percent of all outstanding capital stock of substantially all of the Company’s domestic subsidiaries to secure full payment of all of the Company’s obligations for the ratable benefit of the lenders. | ||||||||||||
Senior Notes | ||||||||||||
The Senior Notes are unsecured, senior subordinated obligations of the Company. The Senior Notes are guaranteed by all of Gentiva’s subsidiaries that are guarantors under the Credit Agreement. Interest on the Senior Notes accrues at a rate of 11.5 percent per annum and is payable semi-annually in arrears on March 1 and September 1. Gentiva will make each interest payment to the holders of record on the immediately preceding February 15 and August 15. | ||||||||||||
The Senior Notes mature on September 1, 2018 and are generally free to be transferred. Gentiva may redeem the Senior Notes, in whole or in part, at any time prior to the first interest payment of 2014, at a price equal to 100 percent of the principal amount of the Senior Notes redeemed plus an applicable make-whole premium based on the present value of the remaining payments discounted at the treasury rate plus 50 basis points plus accrued and unpaid interest, if any, to the date of redemption. | ||||||||||||
On or after September 1, 2014, Gentiva may redeem all or part of the Senior Notes at redemption prices set forth below plus accrued and unpaid interest and Additional Interest, if any, as defined in the indenture relating to the Senior Notes during the twelve month period beginning on September 1 of the years indicated below: | ||||||||||||
Year | Redemption Percentage | |||||||||||
2014 | 105.75% | |||||||||||
2015 | 102.88% | |||||||||||
2016 and thereafter | 100.00% |
Equity
Equity | 6 Months Ended | ||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||||||||||||
Equity | ' | ||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||
Changes in equity for the six months ended June 30, 2014 and 2013 were as follows (in thousands, except share amounts): | |||||||||||||||||||||||||||
Gentiva Shareholders | |||||||||||||||||||||||||||
Common Stock | Additional | Retained | Treasury Stock | Noncontrolling Interests | |||||||||||||||||||||||
Paid-in Capital | Earnings | ||||||||||||||||||||||||||
Shares | Amount | Accumulated (Deficit) | 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 | — | — | — | (200,830 | ) | — | 337 | (200,493 | ) | ||||||||||||||||||
Total comprehensive (loss) income | — | — | — | (200,830 | ) | — | 337 | (200,493 | ) | ||||||||||||||||||
Income tax expense associated with the exercise of non-qualified stock options | — | — | (340 | ) | — | — | — | (340 | ) | ||||||||||||||||||
Equity-based compensation expense | — | — | 3,969 | — | — | — | 3,969 | ||||||||||||||||||||
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors | 566,478 | 56 | 1,793 | — | — | — | 1,849 | ||||||||||||||||||||
Distribution to partnership interests | — | — | — | — | — | (356 | ) | (356 | ) | ||||||||||||||||||
Treasury shares: | |||||||||||||||||||||||||||
Stock withheld (25,801 shares) for payroll tax withholdings related to equity-based compensation | 25,801 | 3 | — | — | (278 | ) | — | (275 | ) | ||||||||||||||||||
Balance at June 30, 2013 | 32,601,565 | $ | 3,260 | $ | 404,570 | $ | (352,165 | ) | $ | (18,130 | ) | $ | 1,519 | $ | 39,054 | ||||||||||||
Balance at December 31, 2013 | 37,713,302 | $ | 3,771 | $ | 462,262 | $ | (750,329 | ) | $ | (18,773 | ) | $ | 2,875 | $ | (300,194 | ) | |||||||||||
Comprehensive income: | |||||||||||||||||||||||||||
Net income | — | — | — | 10,325 | — | 172 | 10,497 | ||||||||||||||||||||
Total comprehensive income | — | — | — | 10,325 | — | 172 | 10,497 | ||||||||||||||||||||
Income tax expense associated with the exercise of non-qualified stock options | — | — | (2,231 | ) | — | — | — | (2,231 | ) | ||||||||||||||||||
Equity-based compensation expense | — | — | 4,387 | — | — | — | 4,387 | ||||||||||||||||||||
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors | 502,980 | 51 | 1,225 | — | — | — | 1,276 | ||||||||||||||||||||
Minority interest capital contribution | — | — | — | — | — | 1,160 | 1,160 | ||||||||||||||||||||
Distribution to partnership interests | — | — | — | — | — | (231 | ) | (231 | ) | ||||||||||||||||||
Treasury shares: | |||||||||||||||||||||||||||
Stock withheld (32,662 shares) for payroll tax withholdings related to equity-based compensation | — | — | — | — | (392 | ) | — | (392 | ) | ||||||||||||||||||
Balance at June 30, 2014 | 38,216,282 | $ | 3,822 | $ | 465,643 | $ | (740,004 | ) | $ | (19,165 | ) | $ | 3,976 | $ | (285,728 | ) | |||||||||||
Comprehensive income amounted to $10.0 million and $10.5 million for the second quarter and first six months of 2014, respectively, as compared to comprehensive income of $6.6 million and comprehensive loss of $200.5 million for the second quarter and first six months of 2013, respectively. | |||||||||||||||||||||||||||
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 six months ended June 30, 2014 and June 30, 2013, the Company did not repurchase shares of its outstanding common stock. As of June 30, 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 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. |
EquityBased_Compensation_Plans
Equity-Based Compensation Plans | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||
Equity-Based Compensation Plans | ' | ||||||||||||
Equity-Based Compensation Plans | |||||||||||||
The Company provides several equity-based compensation plans under which the Company’s officers, employees and non-employee directors may participate, including (i) the 2004 Equity Incentive Plan (amended and restated as of March 16, 2011, as further amended by Amendment Nos. 1 and 2 thereto) (“2004 Plan”), (ii) the Stock & Deferred Compensation Plan for Non-Employee Directors (“DSU Plan”) and (iii) the Employee Stock Purchase Plan (“ESPP”). Collectively, these equity-based compensation plans permit the grants of (i) incentive stock options, (ii) non-qualified stock options, (iii) stock appreciation rights, (iv) restricted stock, (v) performance units, (vi) stock units and (vii) cash, as well as allow employees to purchase shares of the Company’s common stock under the ESPP at a pre-determined discount. | |||||||||||||
For the second quarter and first six months of 2014, the Company recorded equity-based compensation expense, as calculated on a straight-line basis over the vesting periods of the related equity instruments, of $2.2 million and $4.4 million, respectively, as compared to $2.2 million and $4.0 million for the corresponding periods of 2013, which were reflected as selling, general and administrative expense in the consolidated statements of comprehensive income. | |||||||||||||
Stock Options | |||||||||||||
The weighted average fair values of the Company’s stock options granted during the first six months of 2014 and 2013 calculated using the Black-Scholes option pricing model and other assumptions were as follows: | |||||||||||||
Six Months Ended | |||||||||||||
June 30, 2014 | June 30, 2013 | ||||||||||||
Weighted average fair value of options granted | $ | 5.08 | $ | 10.73 | |||||||||
Risk-free interest rate | 0.46% - 0.51% | 0.29% - 0.60% | |||||||||||
Expected volatility | 60% - 63% | 66% - 77% | |||||||||||
Contractual life | 7 years | 7 years | |||||||||||
Expected life | 3.4 - 5.4 years | 3.4 - 6.0 years | |||||||||||
Expected dividend yield | — | % | — | % | |||||||||
During the first six months of 2014, the Company issued 375,000 stock options that are both time-vesting (one-third each year) and carry a market vesting feature based on the average 30-day closing stock price of the Company's common stock based on stock price thresholds of $14, $16, and $18 (each covering one-third of the options granted). The fair value of the stock options granted ranged from $5.15 to $5.88 and was determined using the Monte Carlo stock option valuation model. Assumptions used in the model included volatility of 63 percent, risk-free interest rate of 1.32 percent, zero percent dividend yield, a forfeiture rate based on the Company's historical experience and a contractual life of seven years. | |||||||||||||
Stock option grants in 2011 through 2014 vest over a three-year period based on a vesting schedule that provides for one-third vesting after each year. In addition, the Company also issued stock options in 2013 and 2014 that are both time-vesting (one-third each year) and carry a market vesting feature based on the average 30-day closing stock price of the Company's common stock. Stock option grants in 2010 fully vest over a four-year period based on a vesting schedule that provides for one-half vesting after year two and an additional one-fourth vesting after each of years three and four. The Company’s expected volatility assumptions are based on the historical volatility of the Company’s stock price over a period corresponding to the expected term of the stock option. Forfeitures are estimated utilizing the Company’s historical forfeiture experience. The expected life of the Company’s stock options is based on the Company’s historical experience of the exercise patterns associated with its stock options. | |||||||||||||
A summary of Gentiva stock option activity as of June 30, 2014 and changes during the six months then ended is presented below: | |||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||
Options | Average | Average | Intrinsic | ||||||||||
Exercise | Remaining | Value | |||||||||||
Price | Contractual | ||||||||||||
Life (Years) | |||||||||||||
Balance as of December 31, 2013 | 4,005,589 | $ | 15.4 | ||||||||||
Granted | 737,500 | 10.9 | |||||||||||
Exercised | (14,001 | ) | 5.9 | ||||||||||
Cancelled | (701,974 | ) | 19.54 | ||||||||||
Balance as of June 30, 2014 | 4,027,114 | $ | 13.89 | 4.6 | $ | 16,389,635 | |||||||
Exercisable options | 2,434,902 | $ | 16.73 | 3.9 | $ | 7,625,105 | |||||||
Shares expected to vest as of June 30, 2014 | 1,516,839 | $ | 9.49 | 5.8 | $ | 8,441,952 | |||||||
The total intrinsic value of options exercised during the six months ended June 30, 2014 and June 30, 2013 was $0.1 million and $0.4 million, respectively. For both periods ending June 30, 2014 and 2013, the Company had $5.2 million of total unrecognized compensation cost related to nonvested stock options. This compensation expense is expected to be recognized over a weighted-average period of 1.5 years for both years. The total fair value of options that vested during the first six months of 2014 was $2.4 million. | |||||||||||||
Performance Based Awards | |||||||||||||
The Company may grant performance based awards under its 2004 Plan that are either settled in shares of the Company's common stock or settled in cash depending on the individual award type. Performance based awards may result in the issuance of a range of shares of common stock or cash based on the achievement of defined levels of performance criteria. Performance based awards also carry a three-year service period requirement from the date of grant to vest. Forfeitures are estimated utilizing the Company’s historical forfeiture experience. | |||||||||||||
A summary of Gentiva's performance based cash award activity by grant year as of June 30, 2014 is presented below: | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Service period to vest: | 3 years | 3 years | 3 years | ||||||||||
Performance range of target: | 0% - 200% | 0% - 240% | 0% - 240% | ||||||||||
Performance measured on: | EPS | EPS | EPS | ||||||||||
Performance measurement period: | 1/2 based on 2012 results | 30% based on 2013 results | 100% based on 2016 results | ||||||||||
1/2 based on 2014 results | 70% based on 2015 results | ||||||||||||
Performance target achieved: | 2012 - 85% | 2013 - 0% | |||||||||||
Performance cash: | |||||||||||||
Balance at December 31, 2013 - Earned | $ | 1,804,656 | $ | — | $ | — | |||||||
Cancellations | (28,688 | ) | — | — | |||||||||
Balance at June 30, 2014 - Earned | $ | 1,775,968 | $ | — | $ | — | |||||||
Balance at December 31, 2013 - Unearned | $ | 2,123,125 | $ | 4,638,750 | $ | — | |||||||
Granted | — | — | 5,795,250 | ||||||||||
Performance target not achieved | — | (1,076,250 | ) | — | |||||||||
Cancellations | (33,750 | ) | — | (60,000 | ) | ||||||||
Balance at June 30, 2014 - Unearned | $ | 2,089,375 | $ | 3,562,500 | $ | 5,735,250 | |||||||
For the second quarter and first six months of 2014, the Company recorded $1.0 million and $2.0 million, respectively, of compensation expense associated with its performance based cash awards as compared to $0.2 million and $0.9 million for the corresponding periods of 2013. As of June 30, 2014, the Company had unrecognized compensation cost at target of $6.3 million to be recognized over a weighted-average period of 2.1 years. | |||||||||||||
Restricted Stock | |||||||||||||
A summary of Gentiva restricted stock activity as of June 30, 2014 is presented below: | |||||||||||||
Number of | Weighted- | Aggregate | |||||||||||
Restricted | Average | Intrinsic | |||||||||||
Shares | Exercise | Value | |||||||||||
Price | |||||||||||||
Balance as of December 31, 2013 | 635,400 | $ | 18.27 | ||||||||||
Granted | 366,000 | 10.79 | |||||||||||
Exercised | (88,900 | ) | 26.58 | ||||||||||
Cancelled | (10,300 | ) | 11.37 | ||||||||||
Balance as of June 30, 2014 | 902,200 | $ | 14.53 | $ | 13,587,132 | ||||||||
Nonvested shares expected to vest as of June 30, 2014 | 834,741 | $ | 14.78 | $ | 12,571,196 | ||||||||
The restricted stock fully vests at the end of a three-year or five-year period, depending on the individual grants. Forfeitures are estimated utilizing the Company’s historical forfeiture experience. | |||||||||||||
As of June 30, 2014, the aggregate intrinsic value of the restricted stock awards was $13.6 million. The Company had $7.1 million and $6.6 million of total unrecognized compensation cost related to restricted stock as of June 30, 2014 and 2013, respectively. This compensation expense is expected to be recognized over a weighted-average period of 2.1 years and 2.4, respectively. | |||||||||||||
Directors Deferred Share Units | |||||||||||||
Under the Company’s DSU Plan, each non-employee director receives an annual deferred stock unit award credited quarterly and paid in shares of the Company’s common stock following termination of the director’s service on the Board of Directors. The total number of shares of common stock reserved for issuance under this plan is 650,000, of which 171,823 shares were available for future grants as of June 30, 2014. During the first six months of 2014 and 2013, the Company granted 35,014 and 34,224 stock units, respectively, under the DSU Plan at a grant date weighted-average fair value of $11.99 and $10.52 per stock unit, respectively. Under the DSU Plan, 367,790 stock units were outstanding as of June 30, 2014. | |||||||||||||
Employee Stock Purchase Plan | |||||||||||||
The Company provides an ESPP under which the offering period is three months and the purchase price of shares is equal to 85 percent of the fair market value of the Company’s common stock on the last day of the three-month offering period. All employees of the Company are eligible to purchase stock under the ESPP regardless of their actual or scheduled hours of service. Under the Company’s ESPP, compensation expense is equal to the 15 percent discount from the fair market value of the Company’s common stock on the date of purchase. During the first six months of 2014 and 2013, the Company issued 126,535 and 156,535 shares of common stock, respectively, under its ESPP. |
Legal_Matters
Legal Matters | 6 Months Ended | |
Jun. 30, 2014 | ||
Commitments and Contingencies Disclosure [Abstract] | ' | |
Legal Matters | ' | |
Legal Matters | ||
Litigation | ||
In addition to the matters referenced in this Note 14, the Company is party to certain legal actions arising in the ordinary course of business, including legal actions arising out of services rendered by its various operations, personal injury and employment disputes. Management does not expect that these other legal actions will have a material adverse effect on the business, financial condition, results of operations, liquidity or capital resources of the Company. | ||
On May 10, 2010, a collective and class action complaint entitled Lisa Rindfleisch et al. v. Gentiva Health Services, Inc. was filed in the United States District Court for the Eastern District of New York against the Company in which five former employees ("Plaintiffs") alleged wage and hour law violations. The former employees claimed they were paid pursuant to “an unlawful hybrid” compensation plan that paid them on both a per visit and an hourly basis, thereby voiding their exempt status and entitling them to overtime pay. Plaintiffs alleged continuing violations of federal and state law and sought damages under the Fair Labor Standards Act (“FLSA”), as well as under the New York Labor Law and North Carolina Wage and Hour Act (“NCWHA”). On October 8, 2010, the Court granted the Company’s motion to transfer the venue of the lawsuit to the United States District Court for the Northern District of Georgia. On April 13, 2011, the Court granted Plaintiffs’ motion for conditional certification of the FLSA claims as a collective action. On May 26, 2011, the Court bifurcated the FLSA portion of the suit into a liability phase, in which discovery closed on January 15, 2013, and a potential damages phase, to be scheduled pending outcome of the liability phase. Following a motion for partial summary judgment by the Company regarding the New York state law claims, Plaintiffs agreed voluntarily to dismiss those claims in a filing on December 12, 2011. Plaintiffs filed a motion for certification of a North Carolina state law class for NCWHA claims on January 20, 2012. On August 29, 2012, the Court denied Plaintiffs' motion for certification of a North Carolina state law class. The Company filed a motion for partial summary judgment on Plaintiffs’ claims under the NCWHA on March 22, 2012, which the Court granted on January 16, 2013. On February 14, 2013, the Company filed two motions for partial summary judgment with regard to the Company's liability for Plaintiffs' FLSA claims. On the same day, Plaintiffs filed a motion for partial summary judgment in their favor with regard to the Company's liability. On July 26, 2013, the Court denied the Company's motion for summary judgment with regard to the Company's liability for Plaintiffs' FLSA claims and granted Plaintiffs' motion for summary judgment. On November 4, 2013, the Court denied the Company's motion to amend the District Court's July 26 Order to certify two legal issues for immediate interlocutory appeal to the Eleventh Circuit Court of Appeals. In its Order, the Court established a 30-day deadline for the Company to file its motion for decertification of the FLSA collective action class, which the Company then filed on December 4, 2013. On April 18, 2014, the Court issued an Order granting the Company's motion for decertification and dismissing the opt-in plaintiffs from the lawsuit without prejudice. On the same day, Plaintiffs filed a motion to amend the Court's Order to delay the effective date of the dismissal of the opt-in plaintiffs' claims for 60 days, until June 17, 2014. On May 8, 2014, the Court entered an Order granting Plaintiffs’ motion to amend, thereby extending the effective date of dismissal through June 17, 2014. On June 17, 2014, approximately 194 of the former 999 opt-in plaintiffs who had been dismissed from this case filed a new Complaint against the Company in the United States District Court for the Northern District of Georgia as a separate, follow-on lawsuit with identical claims captioned Cynthia Bailey et al. v. Gentiva Health Services, Inc. These were some of the individuals who had been dismissed from the Rindfleisch lawsuit and who wished to continue to pursue their claims. Given the filing of the follow-on lawsuit, at the June 19, 2014 settlement conference in respect of the Rindfleisch lawsuit, it was determined that this case would be stayed and administratively closed pending the outcome of global mediation of both lawsuits, which currently is scheduled for September 12, 2014. Because of this, the trial date that had been scheduled for July was reset. Accordingly, on June 24, 2014, the District Judge administratively closed this case. If there is no settlement which resolves all issues in the Rindfleisch lawsuit as a result of the September 12 mediation, this lawsuit will be re-opened upon the request of either party, so long as the request is made within 90 days of the September 12, 2014 mediation. Plaintiffs in this lawsuit are seeking attorneys' fees, back wages and liquidated damages going back three years from the filing of the complaint under the FLSA. | ||
Based on the information the Company has at this time in the Rindfleisch and Bailey lawsuits, the Company is unable to assess the probable outcome or potential liability, if any, arising from these proceedings on the business, financial condition, results of operations, liquidity or capital resources of the Company. The Company does not believe that an estimate of a reasonably possible loss or range of loss can be made for these lawsuits at this time. The Company intends to defend itself vigorously in these lawsuits. | ||
On June 11, 2010, a collective and class action complaint entitled Catherine Wilkie, individually and on behalf of all others similarly situated v. Gentiva Health Services, Inc. was filed in the United States District Court for the Eastern District of California against the Company in which a former employee alleged wage and hour violations under the FLSA and California law. The complaint alleged that the Company paid some of its employees on both a per visit and hourly basis, thereby voiding their exempt status and entitling them to overtime pay. The complaint further alleged that California employees were subject to violations of state laws requiring meal and rest breaks, overtime pay, accurate wage statements and timely payment of wages. The plaintiff sought class certification, attorneys’ fees, back wages, penalties and damages going back three years on the FLSA claim and four years on the state wage and hour claims. The Company denies the plaintiff's allegations but, following a March 2012 mediation, agreed to pay a total settlement amount of $5 million to settle the collective and class action claims. The federal district court granted final approval of the settlement on March 26, 2013, and funds were disbursed to the participating class members, 99 percent of whom timely negotiated their settlement checks. The unclaimed wages will escheat to the State of California, and any balance remaining will be distributed to a cy pres beneficiary at the conclusion of the escheat process. A status conference is scheduled for June 22, 2015, at which time the parties will present a final accounting of the settlement fund, and the court is expected to approve distribution of the residual to the cy pres beneficiary and dismiss the case. | ||
On July 10, 2013, the Company was served with a complaint captioned United States ex rel. Vicky White v. Gentiva Health Services, Inc., which had been filed on September 8, 2010 as a qui tam action in United States District Court for the Eastern District of Tennessee by a former employee, Vicky White, as relator. The United States had declined to intervene in this action on April 5, 2013. Relator seeks treble damages and civil penalties under the federal False Claims Act for alleged violations by the Company in presenting false claims for payment and receiving Medicare reimbursement for certain home health services it had provided and also seeks damages relating to her alleged retaliatory discharge by the Company. On September 6, 2013, the Company filed a motion to dismiss the action in its entirety. On June 25, 2014, the court granted in part the Company's motion to dismiss and dismissed four of the five fraudulent schemes alleged by relator. The court denied the Company's motion to dismiss as to the remaining alleged fraudulent scheme of recertifying psychiatric patients and as to relator's claim of alleged retaliatory discharge. The Company filed its answer to the complaint on July 23, 2014. Given the preliminary stage of this action and the limited information that the Company has regarding this matter, the Company is unable to assess the probable outcome or potential liability, if any, arising from this action. The Company intends to defend itself vigorously in this lawsuit. | ||
Federal Securities Class Action Litigation | ||
Between November 2, 2010 and October 25, 2011, five shareholder class actions were filed against Gentiva and certain of its current and former officers and directors in the United States District Court for the Eastern District of New York. Each of these actions asserted claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "1934 Act") in connection with the Company’s participation in the Medicare Home Health Prospective Payment System (“HH PPS”). Following consolidation of the actions and the appointment of Los Angeles City Employees’ Retirement System as lead plaintiff, on April 16, 2012, a consolidated shareholder class action complaint, captioned In re Gentiva Securities Litigation, Civil Action No. 10-CV-5064, was filed in the United States District Court for the Eastern District of New York. The complaint, which named Gentiva and certain current and former officers and directors as defendants, asserted claims under Sections 10(b) and 20(a) of the 1934 Act, as well as Sections 11 and 15 of the Securities Act of 1933 (the "1933 Act"), in connection with the Company’s participation in the HH PPS. The complaint alleged, among other things, that the Company’s public disclosures misrepresented and failed to disclose that the Company improperly increased the number of in-home therapy visits to patients for the purposes of triggering higher reimbursement rates under the HH PPS, which caused an artificial inflation in the price of Gentiva’s common stock during the period between July 31, 2008 and October 4, 2011. On June 15, 2012, defendants filed a motion to dismiss the complaint. On March 25, 2013, the court granted defendants' motion to dismiss with leave to amend the complaint in accordance with the court's rulings as set forth in its March 25 order. On May 10, 2013, lead plaintiff filed a consolidated amended class action complaint, and, on June 24, 2013, defendants filed a motion to dismiss. On September 19, 2013, the court granted in part and denied in part defendants’ motion to dismiss. As a result of the court’s decision, the named current officers and directors were dismissed from the action, and certain claims against Gentiva and a former officer and a former officer/director remained. On October 3, 2013, the remaining defendants moved for partial reconsideration of the court’s September 19 order. On December 10, 2013, the court granted in part and denied in part the remaining defendants' motion for partial reconsideration. As a result of the court's decision, Gentiva and the former officer were dismissed from the action, and only a Section 10(b) claim against the former officer/director remains. On January 9, 2014, the former officer/director filed an answer to the consolidated amended class action complaint. On January 28, 2014, lead plaintiff filed a motion for the entry of final judgment under Rule 54(b) of the Federal Rules of Civil Procedure. On March 3, 2014, the court granted in part and denied in part lead plaintiff's motion under Rule 54(b), granting the motion to the extent lead plaintiff sought final judgment for the claims brought pursuant to the 1933 Act as to all defendants, and denying the motion to the extent lead plaintiff sought final judgment for the claims brought pursuant to the 1934 Act as to all defendants other than the former officer/director. As a result of the court's decision, on March 6, 2014, the court entered final judgment in favor of all defendants on lead plaintiff's claims under Sections 11 and 15 of the 1933 Act. | ||
Given the preliminary stage of the action, the Company is unable to assess the probable outcome or potential liability, if any, arising from the action on the business, financial condition, results of operations, liquidity or capital resources of the Company. The Company does not believe that an estimate of a reasonably possible loss or range of loss can be made for the action at this time. The defendants intend to defend themselves vigorously in the action. | ||
Shareholder Derivative Litigation | ||
On January 4, 2011 and October 31, 2011, two actions were filed against certain of Gentiva’s current and former directors in Superior Court of DeKalb County in the State of Georgia, alleging, among other things, that Gentiva’s board of directors breached its fiduciary duties to the Company. The actions were consolidated and, on February 9, 2012, plaintiffs filed a consolidated complaint (the “Georgia State Court Action”). The Georgia State Court Action, which named certain of Gentiva’s current and former directors as defendants, alleged, among other things, that Gentiva’s board of directors had actual or constructive knowledge that the Company’s public disclosures misrepresented and failed to disclose that the Company improperly increased the number of in-home therapy visits to patients for the purpose of triggering higher reimbursement rates under HH PPS, which caused an artificial inflation in the price of Gentiva’s common stock. On March 26, 2012, defendants filed a motion to dismiss the Georgia State Court Action and further requested a transfer to the Superior Court of Cobb County. On October 12, 2012, the Cobb County court granted defendants' motion to dismiss the consolidated complaint with prejudice. On November 30, 2012, one of the plaintiffs in the Georgia State Court Action made a demand on Gentiva's board of directors to take action to remedy the breaches of fiduciary duty alleged in the Georgia State Court Action. The board of directors formed a committee (the “Committee”) to consider the demand. | ||
On October 7 and October 13, 2011, two actions were filed against certain of Gentiva’s current and former directors and officers in the United States District Court for the Northern District of Georgia, alleging, among other things, that Gentiva’s board of directors breached its fiduciary duties to the Company. The actions also asserted a claim under Section 14(a) of the Securities Exchange Act of 1934. The actions were consolidated and, on March 5, 2012, plaintiffs filed a consolidated complaint (the “Georgia Federal Court Action”). The Georgia Federal Court Action, which named certain of Gentiva’s current and former directors and officers as defendants, alleged, among other things, that Gentiva’s board of directors had actual or constructive knowledge that the Company’s public disclosures misrepresented and failed to disclose that the Company improperly increased the number of in-home therapy visits to patients for the purpose of triggering higher reimbursement rates under the HH PPS, which caused an artificial inflation in the price of Gentiva’s common stock. The complaint further alleged that the Company’s Proxy Statement for its 2010 Annual Meeting of Shareholders was materially false and misleading. On April 16, 2012, defendants filed a motion to dismiss the Georgia Federal Court Action and, on February 11, 2013, the court granted defendants' motion to dismiss with prejudice. On March 11, 2013, one of the plaintiffs in the Georgia Federal Court Action filed a notice of appeal to the United States Court of Appeals for the Eleventh Circuit. On April 10, 2013, that plaintiff and defendants filed a joint motion to dismiss the appeal with prejudice in the Eleventh Circuit. On April 30, 2013, that motion was granted. On August 2, 2013 and September 24, 2013, respectively, each of the plaintiffs in the Georgia Federal Court Action made a demand on Gentiva’s board of directors to take action to remedy the breaches of fiduciary duty alleged in the Georgia Federal Court Action. The demands were considered by the Committee along with the November 30, 2012 demand, and, after conducting an investigation of the allegations contained in each of the three demands, the Committee and the Board determined that taking any or all of the demanded actions would not serve the best interests of Gentiva and its shareholders. Accordingly, the Board voted unanimously to reject the demands. | ||
Government Matters | ||
PRRB Appeal | ||
In connection with the audit of the Company’s 1997 cost reports, the Medicare fiscal intermediary made certain audit adjustments related to the methodology used by the Company to allocate a portion of its residual overhead costs. The Company filed cost reports for years subsequent to 1997 using the fiscal intermediary’s methodology. The Company believed the methodology it used to allocate such overhead costs was accurate and consistent with past practice accepted by the fiscal intermediary; as such, the Company filed appeals with the Provider Reimbursement Review Board (“PRRB”) concerning this issue with respect to cost reports for the years 1997, 1998 and 1999. The Company’s consolidated financial statements for the years 1997, 1998 and 1999 had reflected use of the methodology mandated by the fiscal intermediary. In June 2003, the Company and its Medicare fiscal intermediary signed an Administrative Resolution relating to the issues covered by the appeals pending before the PRRB. Under the terms of the Administrative Resolution, the fiscal intermediary agreed to reopen and adjust the Company’s cost reports for the years 1997, 1998 and 1999 using a modified version of the methodology used by the Company prior to 1997. This modified methodology will also be applied to cost reports for the year 2000, which are finalized and being settled. The Administrative Resolution required that the process to (i) reopen all 1997 cost reports, (ii) determine the adjustments to allowable costs through the issuance of Notices of Program Reimbursement and (iii) make appropriate payments to the Company, be completed in early 2004. Cost reports relating to years subsequent to 1997 were to be reopened after the process for the 1997 cost reports was completed. | ||
The fiscal intermediary completed the reopening of all 1997, 1998 and 1999 cost reports and determined that the adjustment to allowable costs aggregated $15.9 million which the Company has received and recorded as adjustments to net revenues in the fiscal years 2004 through 2006. The 2000 cost reports are now finalized and being settled by the Centers for Medicare & Medicaid Services. In connection with the settlements, the Company recorded approximately $4.0 million as a positive adjustment to net revenues in the third quarter of 2013. | ||
Investigations | ||
Odyssey | ||
On May 5, 2008, Odyssey HealthCare, Inc. (“Odyssey”) received a letter from the U.S. Department of Justice (“DOJ”) notifying Odyssey that the DOJ was conducting an investigation of VistaCare, Inc. (“VistaCare”) and requesting that Odyssey provide certain information and documents related to the DOJ’s investigation of claims submitted by VistaCare to Medicare, Medicaid and the U.S. government health insurance plan for active military members, their families and retirees, formerly the Civilian Health and Medical Program of the Uniformed Services (“TRICARE”), from January 1, 2003 through March 6, 2008, the date Odyssey completed the acquisition of VistaCare. Odyssey has been informed by the DOJ and the Medicaid Fraud Control Unit of the Texas Attorney General’s Office that they are reviewing allegations that VistaCare may have billed the federal Medicare, Medicaid and TRICARE programs for hospice services that were not reasonably or medically necessary or performed as claimed. The basis of the investigation is a qui tam lawsuit filed in the United States District Court for the Northern District of Texas by a former employee of VistaCare. The lawsuit alleges, among other things, that VistaCare submitted false claims to Medicare and Medicaid for hospice services that were not medically necessary and for hospice services that were referred in violation of the anti-kickback statute. The court unsealed the lawsuit on October 5, 2009 and Odyssey was served on January 28, 2010. In connection with the unsealing of the complaint, the DOJ filed a notice with the court declining to intervene in the qui tam action at such time. The Texas Attorney General also filed a notice of non-intervention with the court. These actions should not be viewed as a final assessment by the DOJ or the Texas Attorney General of the merits of this qui tam action. Odyssey continues to cooperate with the DOJ and the Texas Attorney General in their investigation. The relator has continued to pursue the qui tam lawsuit. Odyssey and VistaCare filed motions to dismiss the relator’s complaint on March 30, 2010 and April 2, 2012. The court issued orders on the motions to dismiss on March 9, 2011 and July 23, 2012. Consistent with the court’s orders, relator’s false claims act claims based on alleged medically unnecessary hospice services and for hospice services referred in violation of the anti-kickback statute are permitted to proceed to discovery. On or about September 6, 2013, relator filed her fourth amended complaint. This pleading only alleged wrongdoing against VistaCare from January 1, 2003 through December 31, 2012 and did not allege any wrongdoing against Odyssey or the Company and only asserted claims against them as purported successors in interest. On or about September 27, 2013, VistaCare answered the fourth amended complaint, and the Company and Odyssey moved to dismiss the allegations made against them. That motion to dismiss as to the Company and Odyssey was granted by the court on July 23, 2014. The case has been set for trial on September 21, 2015. VistaCare, Odyssey, and the Company deny the allegations made in this qui tam action and will vigorously defend against them. Based on the information available at this time, the Company cannot predict the outcome of the qui tam lawsuit, the governments’ continuing investigation, the DOJ’s or Texas Attorney General’s views of the issues being investigated, other than the DOJ’s and Texas Attorney General’s notice declining to intervene in the qui tam action, or any actions that the DOJ or Texas Attorney General may take. | ||
On February 23, 2010, Odyssey received a subpoena from the Department of Health and Human Services, Office of Inspector General (“OIG”), requesting various documents and certain patient records of one of Odyssey’s hospice programs relating to services performed from January 1, 2006 through December 31, 2009. Odyssey is cooperating with the OIG and has completed its subpoena production. Based on the limited information that Odyssey has at this time, the Company cannot predict the outcome of the investigation, the OIG’s views of the issues being investigated or any actions that the OIG may take. | ||
The Company does not believe that an estimate of a reasonably possible loss or range of loss can be made at this time with regard to the above investigations involving Odyssey. Based on the limited information that Odyssey has at this time regarding such investigations, the Company is unable to predict the impact, if any, that such investigations may have on Odyssey’s and the Company’s business, financial condition, results of operations, liquidity or capital resources. | ||
Harden | ||
On or about June 19, 2014, the Company received a Civil Investigative Demand from the U.S. Department of Justice, Western District of Missouri, under the federal False Claims Act requesting complete medical records for 14 hospice patients and other documents of Hospice Care of the Midwest, L.L.C., a subsidiary of Harden Healthcare Holdings, LLC (“Harden Holdings”), for the period from January 1, 2009 through June 19, 2014. The Company is in the process of complying with the demand for documents and is cooperating with the investigation. The Company acquired Harden Holdings on October 18, 2013 and in general matters occurring prior to such date are subject to indemnification provisions in the related Merger Agreement. | ||
On or about June 9, 2014, Iowa Hospice, L.L.C., a subsidiary of Harden Holdings, received a Subpoena Duces Tecum (“Subpoena”) from the Office of Investigations, Kansas City Regional Office of the Office of Inspector General of the Department of Health and Human Services. The Subpoena requests complete medical records for 17 hospice patients and other documents of Iowa Hospice, L.L.C. for the period from January 1, 2007 through June 9, 2014. Harden Holdings is in the process of complying with the Subpoena and is cooperating with the investigation. The Company acquired Harden Holdings on October 18, 2013 and in general matters occurring prior to such date are subject to indemnification provisions in the related Merger Agreement. | ||
Based on the limited information that the Company has at this time, the Company is unable to predict the financial impact, if any, arising from the above investigations. | ||
Other | ||
On May 16, 2014, the Company received a letter from the U.S. Department of Justice, Civil Division, Commercial Litigation Branch and the United States Attorney’s Office of the Eastern District of Pennsylvania notifying it of an investigation under the federal False Claims Act regarding Gentiva Health Services, Inc. and related entities. The letter requested various documents related to the Company’s home health business for the time period January 1, 2008 through May 16, 2014 including documents related to chart audits of Medicare claims. The Company is cooperating with the investigation and is continuing to produce documents in response to the letter request. Based on the limited information that the Company has at this time, the Company is unable to predict the financial impact, if any, arising from this investigation. |
Income_Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
The Company recorded an income tax provision of $6.9 million and $7.3 million for the second quarter and first six months of 2014, respectively. The Company’s effective income tax rate for the first six months of 2014 was a 41.1 percent. The difference between the federal statutory income tax rate of 35 percent and the Company’s effective rate of 41.1 percent for the first six months of 2014 is primarily due to state income taxes, net of federal benefit (approximately 3.6 percent) and other items (approximately 2.5 percent). | |
The Company recorded an income tax provision of $4.8 million and an income tax benefit of $0.6 million for the second quarter and first six months of 2013, respectively. The Company's effective income tax rate for the first six months of 2013 was 0.3 percent. The difference between the federal statutory income tax rate of 35 percent and the Company’s effective rate of 0.3 percent for the first six months of 2013 is primarily due to the impact of goodwill (approximately 34.5 percent) and other items (approximately 0.2 percent). | |
As of June 30, 2014 and December 31, 2013, the Company had tax refund receivables of $14.7 million and $21.2 million, respectively. Tax refund receivables are classified in prepaid expenses and other current assets in the Company’s consolidated balance sheets. |
Business_Segment_Information
Business Segment Information | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||
Business Segment Information | ' | |||||||||||||||||||||||||||
Business Segment Information | ||||||||||||||||||||||||||||
The Company’s operations involve servicing its patients and customers through its Home Health, Hospice and Community Care segments. | ||||||||||||||||||||||||||||
Home Health | ||||||||||||||||||||||||||||
The Home Health segment is comprised of direct home nursing and therapy services operations, including specialty programs. The Company conducts direct home nursing and therapy services operations through licensed and Medicare-certified agencies, located in 38 states, from which the Company provides various combinations of skilled nursing and therapy services and paraprofessional nursing services to adult and elder patients. The Company’s direct home nursing and therapy services operations also deliver services to its customers through focused specialty programs that include: | ||||||||||||||||||||||||||||
• | Gentiva Orthopedics, which provides individualized home orthopedic rehabilitation services to patients recovering from joint replacement or other major orthopedic surgery; | |||||||||||||||||||||||||||
• | Gentiva Safe Strides®, which provides therapies for patients with balance issues who are prone to injury or immobility as a result of falling; | |||||||||||||||||||||||||||
• | Gentiva Cardiopulmonary, which helps patients and their physicians manage heart and lung health in a home-based environment; | |||||||||||||||||||||||||||
• | Gentiva Neurorehabilitation, which helps patients who have experienced a neurological injury or condition by removing the obstacles to healing in the patient’s home; and | |||||||||||||||||||||||||||
• | Gentiva Senior Health, which addresses the needs of patients with age-related diseases and issues to effectively and safely stay in their homes. | |||||||||||||||||||||||||||
Hospice | ||||||||||||||||||||||||||||
The Hospice segment serves terminally ill patients and their families through Medicare-certified providers operating in 30 states. Comprehensive management of the healthcare services and products needed by hospice patients and their families are provided through the use of an interdisciplinary team. Depending on a patient’s needs, each hospice patient is assigned an interdisciplinary team comprised of a physician, nurse(s), home health aide(s), medical social worker(s), chaplain, dietary counselor and bereavement coordinator, as well as other care professionals. | ||||||||||||||||||||||||||||
The Hospice segment also delivers services through focused specialty programs that include: | ||||||||||||||||||||||||||||
• | Memory Care Specialty Program, which provides an individualized disease management program addressing the physical needs specific to Alzheimer's and dementia patients and support mechanisms for their caregivers; and | |||||||||||||||||||||||||||
• | Cardiac Specialty Program, which helps patients and their physicians aggressively manage symptoms associated with heart disease, focusing on quality of life and pain control. | |||||||||||||||||||||||||||
Community Care | ||||||||||||||||||||||||||||
The Community Care segment serves patients who have chronic or long-term disabilities and need help with routine personal care operating in 4 states: Texas, Missouri, Oklahoma and North Carolina. These services include help with personal needs, such as bathing and dressing, and household activities, such as laundry and shopping, all of which help enable the patient to remain at home. Community Care services are funded primarily through state Medicaid programs which vary state to state. | ||||||||||||||||||||||||||||
Corporate Expenses | ||||||||||||||||||||||||||||
Corporate expenses consist of costs relating to executive management and corporate and administrative support functions that are not directly attributable to a specific segment, including equity-based compensation expense. Corporate and administrative support functions represent primarily information services, accounting and finance, tax compliance, risk management, procurement, marketing, clinical administration, training, legal and human resource benefits and administration. | ||||||||||||||||||||||||||||
Other Information | ||||||||||||||||||||||||||||
The Company’s senior management evaluates performance and allocates resources based on operating contributions of the reportable segments, which exclude corporate expenses, depreciation, amortization and net interest costs, but include revenues and all other costs (including special items) directly attributable to the specific segment. Segment assets represent net accounts receivable, identifiable intangible assets, goodwill, and certain other assets associated with segment activities. All other assets are assigned to corporate assets for the benefit of all segments for the purposes of segment disclosure. | ||||||||||||||||||||||||||||
Segment net revenues by major payer source were as follows (in millions): | ||||||||||||||||||||||||||||
Second Quarter | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Home | Hospice | Community Care | Total | Home | Hospice | Total | ||||||||||||||||||||||
Health | Health | |||||||||||||||||||||||||||
Medicare | $ | 218.4 | $ | 161.5 | $ | — | $ | 379.9 | $ | 192.7 | $ | 167.8 | $ | 360.5 | ||||||||||||||
Medicaid and Local Government | 8.6 | 6.3 | 55.8 | 70.7 | 11.2 | 7.5 | 18.7 | |||||||||||||||||||||
Commercial Insurance and Other: | ||||||||||||||||||||||||||||
Paid at episodic rates | 17.8 | — | — | 17.8 | 14 | — | 14 | |||||||||||||||||||||
Other | 24.2 | 4.5 | 0.9 | 29.6 | 17.3 | 3.9 | 21.2 | |||||||||||||||||||||
Total net revenues | $ | 269 | $ | 172.3 | $ | 56.7 | $ | 498 | $ | 235.2 | $ | 179.2 | $ | 414.4 | ||||||||||||||
First Six Months | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Home | Hospice | Community Care | Total | Home | Hospice | Total | ||||||||||||||||||||||
Health | Health | |||||||||||||||||||||||||||
Medicare | $ | 427.2 | $ | 324.7 | $ | — | $ | 751.9 | $ | 385.9 | $ | 335 | $ | 720.9 | ||||||||||||||
Medicaid and Local Government | 17.1 | 12.5 | 112.2 | 141.8 | 22.4 | 14.5 | 36.9 | |||||||||||||||||||||
Commercial Insurance and Other: | ||||||||||||||||||||||||||||
Paid at episodic rates | 33.4 | — | — | 33.4 | 28.2 | — | 28.2 | |||||||||||||||||||||
Other | 47.3 | 9.5 | 1.6 | 58.4 | 34.8 | 9.2 | 44 | |||||||||||||||||||||
Total net revenues | $ | 525 | $ | 346.7 | $ | 113.8 | $ | 985.5 | $ | 471.3 | $ | 358.7 | $ | 830 | ||||||||||||||
Segment information about the Company’s operations is as follows (in thousands): | ||||||||||||||||||||||||||||
Home Health | Hospice | Community Care | Total | |||||||||||||||||||||||||
For the three months ended June 30, 2014 | ||||||||||||||||||||||||||||
Net revenue | $ | 269,068 | $ | 172,322 | $ | 56,650 | $ | 498,040 | ||||||||||||||||||||
Operating contribution | $ | 41,027 | $ | 22,087 | -1 | $ | 8,507 | -1 | $ | 71,621 | ||||||||||||||||||
Corporate expenses | (23,666 | ) | -1 | |||||||||||||||||||||||||
Depreciation and amortization | (6,368 | ) | ||||||||||||||||||||||||||
Interest expense and other, net | (24,689 | ) | ||||||||||||||||||||||||||
Income before income taxes | $ | 16,898 | ||||||||||||||||||||||||||
For the three months ended June 30, 2013 | ||||||||||||||||||||||||||||
Net revenue | $ | 235,216 | $ | 179,208 | $ | — | $ | 414,424 | ||||||||||||||||||||
Operating contribution | $ | 29,917 | $ | 26,437 | -1 | $ | — | $ | 56,354 | |||||||||||||||||||
Corporate expenses | (18,084 | ) | -1 | |||||||||||||||||||||||||
Depreciation and amortization | (4,730 | ) | ||||||||||||||||||||||||||
Interest expense and other, net | (22,148 | ) | ||||||||||||||||||||||||||
Income before income taxes | $ | 11,392 | ||||||||||||||||||||||||||
For the six months ended June 30, 2014 | ||||||||||||||||||||||||||||
Net revenue | $ | 525,044 | $ | 346,724 | $ | 113,777 | $ | 985,545 | ||||||||||||||||||||
Operating contribution | $ | 70,630 | -1 | $ | 39,631 | -1 | $ | 17,786 | -1 | $ | 128,047 | |||||||||||||||||
Corporate expenses | (48,228 | ) | -1 | |||||||||||||||||||||||||
Depreciation and amortization | (12,815 | ) | ||||||||||||||||||||||||||
Interest expense and other, net | (49,187 | ) | ||||||||||||||||||||||||||
Income before income taxes | $ | 17,817 | ||||||||||||||||||||||||||
Segment assets | $ | 396,674 | $ | 357,206 | $ | 170,111 | $ | 923,991 | ||||||||||||||||||||
Corporate assets | 326,560 | |||||||||||||||||||||||||||
Total assets | $ | 1,250,551 | ||||||||||||||||||||||||||
For the six months ended June 30, 2013 | ||||||||||||||||||||||||||||
Net revenue | $ | 471,277 | $ | 358,738 | $ | — | $ | 830,015 | ||||||||||||||||||||
Operating contribution | $ | 60,105 | $ | 53,858 | -1 | $ | — | $ | 113,963 | |||||||||||||||||||
Corporate expenses | (36,771 | ) | -1 | |||||||||||||||||||||||||
Goodwill and other long-lived asset impairment | (224,320 | ) | -2 | |||||||||||||||||||||||||
Depreciation and amortization | (9,511 | ) | ||||||||||||||||||||||||||
Interest expense and other, net | (44,441 | ) | ||||||||||||||||||||||||||
Loss before income taxes | $ | (201,080 | ) | |||||||||||||||||||||||||
Segment assets | $ | 247,164 | $ | 632,773 | -2 | $ | — | $ | 879,937 | |||||||||||||||||||
Corporate assets | 376,287 | -2 | ||||||||||||||||||||||||||
Total assets | $ | 1,256,224 | ||||||||||||||||||||||||||
-1 | For the second quarter and first six months of 2014, the Company recorded charges relating to cost savings initiatives and acquisition and integration activities of $4.7 million and $10.0 million, respectively. For the second quarter and first six months of 2013, the Company recorded charges relating to cost savings initiatives and acquisition and integration activities of $0.8 million and $0.9 million, respectively. | |||||||||||||||||||||||||||
The charges were reflected as follows for segment reporting purposes (in millions): | ||||||||||||||||||||||||||||
Second Quarter | First Six Months | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Home Health | $ | — | $ | — | $ | 0.6 | $ | — | ||||||||||||||||||||
Hospice | 2.5 | 0.7 | 5.4 | 0.7 | ||||||||||||||||||||||||
Community Care | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||
Corporate expenses | 2.1 | 0.1 | 3.9 | 0.2 | ||||||||||||||||||||||||
Total | $ | 4.7 | $ | 0.8 | $ | 10 | $ | 0.9 | ||||||||||||||||||||
-2 | At March 31, 2013, the Company performed an interim impairment test of its Hospice reporting unit. Based on the results of the interim impairment test, the Company recorded a non-cash impairment charge relating to goodwill of approximately $220.8 million. As part of that analysis, the Company reviewed the valuation of its owned real estate utilized in the Hospice business. The analysis indicated that two of the Company's hospice inpatient units had estimated fair values lower than their carrying values and, as such, the Company recorded a non-cash impairment charge of approximately $1.9 million. See Note 9. | |||||||||||||||||||||||||||
In addition, the Company conducted an evaluation of the various systems used to support its field operations. In connection with that review, the Company made a strategic decision to replace its business intelligence software platform and, as such, recorded a non-cash impairment charge, related to developed software, of approximately $1.6 million. | ||||||||||||||||||||||||||||
Hospice and corporate assets were reduced by $220.8 million and $3.5 million, respectively, as a result of the impairment. |
Supplemental_Guarantor_and_Non
Supplemental Guarantor and Non-Guarantor Financial Information | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Supplemental Guarantor and Non-Guarantor Financial Information [Abstract] | ' | |||||||||||||||||||
Supplemental Guarantor and Non-Guarantor Financial Information | ' | |||||||||||||||||||
Supplemental Guarantor and Non-Guarantor Financial Information | ||||||||||||||||||||
Gentiva’s guarantor subsidiaries are guarantors to the Company’s debt securities which are registered under the Securities Act of 1933, as amended. The condensed consolidating financial statements presented below are provided pursuant to Rule 3-10 of Regulation S-X. Separate financial statements of each subsidiary guaranteeing Gentiva’s debt securities are not presented because the guarantor subsidiaries are jointly and severally, fully and unconditionally liable under the guarantees, and 100 percent owned by the Company. There are no restrictions on the ability to obtain funds from these subsidiaries by dividends or other means. | ||||||||||||||||||||
The following condensed consolidating financial statements include the balance sheets as of June 30, 2014 and December 31, 2013, statements of comprehensive income for the three months and six months ended June 30, 2014 and 2013 and statements of cash flows for the six months ended June 30, 2014 and 2013 of (i) Gentiva Health Services, Inc. and (ii) its guarantor subsidiaries (in each case, reflecting investments in its consolidated subsidiaries under the equity method of accounting) and its non-guarantor subsidiaries along with eliminations necessary to arrive at the information for the Company on a consolidated basis. | ||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 77,132 | $ | — | $ | 29,023 | $ | — | $ | 106,155 | ||||||||||
Receivables, net | — | 272,841 | 42,317 | (34,427 | ) | 280,731 | ||||||||||||||
Deferred tax assets, net | — | 21,540 | 2,747 | — | 24,287 | |||||||||||||||
Prepaid expenses and other current assets | — | 39,517 | 15,256 | — | 54,773 | |||||||||||||||
Total current assets | 77,132 | 333,898 | 89,343 | (34,427 | ) | 465,946 | ||||||||||||||
Notes receivable from CareCentrix | — | 28,471 | — | — | 28,471 | |||||||||||||||
Fixed assets, net | — | 44,426 | 522 | — | 44,948 | |||||||||||||||
Intangible assets, net | — | 250,578 | 2,600 | — | 253,178 | |||||||||||||||
Goodwill | — | 381,150 | 8,931 | — | 390,081 | |||||||||||||||
Investment in subsidiaries | 776,831 | 29,582 | — | (806,413 | ) | — | ||||||||||||||
Other assets | 25,737 | 42,184 | 6 | — | 67,927 | |||||||||||||||
Total assets | $ | 879,700 | $ | 1,110,289 | $ | 101,402 | $ | (840,840 | ) | $ | 1,250,551 | |||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of long-term debt | $ | 49,200 | $ | — | $ | — | $ | — | $ | 49,200 | ||||||||||
Accounts payable | — | 14,436 | 149 | — | 14,585 | |||||||||||||||
Other current liabilities | 1,937 | 254,794 | 67,695 | (34,427 | ) | 289,999 | ||||||||||||||
Total current liabilities | 51,137 | 269,230 | 67,844 | (34,427 | ) | 353,784 | ||||||||||||||
Long-term debt | 1,111,972 | — | — | — | 1,111,972 | |||||||||||||||
Deferred tax liabilities, net | — | 15,701 | — | — | 15,701 | |||||||||||||||
Other liabilities | 6,295 | 48,527 | — | — | 54,822 | |||||||||||||||
Total Gentiva shareholders’ (deficit) equity | (289,704 | ) | 776,831 | 29,582 | (806,413 | ) | (289,704 | ) | ||||||||||||
Noncontrolling interests | — | — | 3,976 | — | 3,976 | |||||||||||||||
Total (deficit) equity | (289,704 | ) | 776,831 | 33,558 | (806,413 | ) | (285,728 | ) | ||||||||||||
Total liabilities and equity (deficit) | $ | 879,700 | $ | 1,110,289 | $ | 101,402 | $ | (840,840 | ) | $ | 1,250,551 | |||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 55,076 | $ | — | $ | 31,881 | $ | — | $ | 86,957 | ||||||||||
Receivables, net | — | 284,379 | 34,136 | (28,610 | ) | 289,905 | ||||||||||||||
Deferred tax assets, net | — | 25,845 | 2,308 | — | 28,153 | |||||||||||||||
Prepaid expenses and other current assets | — | 50,890 | 13,856 | — | 64,746 | |||||||||||||||
Total current assets | 55,076 | 361,114 | 82,181 | (28,610 | ) | 469,761 | ||||||||||||||
Notes receivable from CareCentrix | — | 28,471 | — | — | 28,471 | |||||||||||||||
Fixed assets, net | — | 48,824 | 551 | — | 49,375 | |||||||||||||||
Intangible assets, net | — | 253,682 | 2,600 | — | 256,282 | |||||||||||||||
Goodwill | — | 384,017 | 6,064 | — | 390,081 | |||||||||||||||
Investment in subsidiaries | 791,456 | 28,382 | — | (819,838 | ) | — | ||||||||||||||
Other assets | 28,266 | 40,370 | 11 | — | 68,647 | |||||||||||||||
Total assets | $ | 874,798 | $ | 1,144,860 | $ | 91,407 | $ | (848,448 | ) | $ | 1,262,617 | |||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of long-term debt | $ | 45,325 | $ | — | $ | — | $ | — | $ | 45,325 | ||||||||||
Accounts payable | — | 15,377 | 282 | — | 15,659 | |||||||||||||||
Other current liabilities | 188 | 283,040 | 59,868 | (28,610 | ) | 314,486 | ||||||||||||||
Total current liabilities | 45,513 | 298,417 | 60,150 | (28,610 | ) | 375,470 | ||||||||||||||
Long-term debt | 1,124,432 | — | — | — | 1,124,432 | |||||||||||||||
Deferred tax liabilities, net | — | 9,825 | — | — | 9,825 | |||||||||||||||
Other liabilities | 7,922 | 45,162 | — | — | 53,084 | |||||||||||||||
Total Gentiva shareholders’ (deficit) equity | (303,069 | ) | 791,456 | 28,382 | (819,838 | ) | (303,069 | ) | ||||||||||||
Noncontrolling interests | — | — | 2,875 | — | 2,875 | |||||||||||||||
Total (deficit) equity | (303,069 | ) | 791,456 | 31,257 | (819,838 | ) | (300,194 | ) | ||||||||||||
Total liabilities and equity (deficit) | $ | 874,798 | $ | 1,144,860 | $ | 91,407 | $ | (848,448 | ) | $ | 1,262,617 | |||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||
For the Three Months Ended June 30, 2014 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
Net revenues | $ | — | $ | 484,431 | $ | 16,165 | $ | (2,556 | ) | $ | 498,040 | |||||||||
Cost of services sold | — | 260,433 | 9,473 | (2,556 | ) | 267,350 | ||||||||||||||
Gross profit | — | 223,998 | 6,692 | — | 230,690 | |||||||||||||||
Selling, general and administrative expenses | — | (183,542 | ) | (5,561 | ) | — | (189,103 | ) | ||||||||||||
Interest (expense) and other, net | (24,742 | ) | — | 53 | — | (24,689 | ) | |||||||||||||
Equity in earnings of subsidiaries | 24,777 | 773 | — | (25,550 | ) | — | ||||||||||||||
Income before income taxes | 35 | 41,229 | 1,184 | (25,550 | ) | 16,898 | ||||||||||||||
Income tax benefit (expense) | 9,976 | (16,452 | ) | (423 | ) | — | (6,899 | ) | ||||||||||||
Net income | 10,011 | 24,777 | 761 | (25,550 | ) | 9,999 | ||||||||||||||
Noncontrolling interests | — | — | 12 | — | 12 | |||||||||||||||
Net income attributable to Gentiva shareholders | $ | 10,011 | $ | 24,777 | $ | 773 | $ | (25,550 | ) | $ | 10,011 | |||||||||
Total comprehensive income | $ | 10,011 | $ | 24,777 | $ | 761 | $ | (25,550 | ) | $ | 9,999 | |||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||
For the Three Months Ended June 30, 2013 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
Net revenues | $ | — | $ | 402,068 | $ | 16,442 | $ | (4,086 | ) | $ | 414,424 | |||||||||
Cost of services sold | — | 212,699 | 10,334 | (4,086 | ) | 218,947 | ||||||||||||||
Gross profit | — | 189,369 | 6,108 | — | 195,477 | |||||||||||||||
Selling, general and administrative expenses | — | (157,232 | ) | (4,705 | ) | — | (161,937 | ) | ||||||||||||
Interest (expense) and other, net | (22,163 | ) | — | 15 | — | (22,148 | ) | |||||||||||||
Equity in earnings of subsidiaries | 19,113 | 835 | — | (19,948 | ) | — | ||||||||||||||
(Loss) income before income taxes | (3,050 | ) | 32,972 | 1,418 | (19,948 | ) | 11,392 | |||||||||||||
Income tax benefit (expense) | 9,397 | (13,859 | ) | (367 | ) | — | (4,829 | ) | ||||||||||||
Net income | 6,347 | 19,113 | 1,051 | (19,948 | ) | 6,563 | ||||||||||||||
Noncontrolling interests | — | — | (216 | ) | — | (216 | ) | |||||||||||||
Net income attributable to Gentiva shareholders | $ | 6,347 | $ | 19,113 | $ | 835 | $ | (19,948 | ) | $ | 6,347 | |||||||||
Total comprehensive income | $ | 6,347 | $ | 19,113 | $ | 1,051 | $ | (19,948 | ) | $ | 6,563 | |||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||
For the Six Months Ended June 30, 2014 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
Net revenues | $ | — | $ | 959,126 | $ | 34,109 | $ | (7,690 | ) | $ | 985,545 | |||||||||
Cost of services sold | — | 526,526 | 21,582 | (7,690 | ) | 540,418 | ||||||||||||||
Gross profit | — | 432,600 | 12,527 | — | 445,127 | |||||||||||||||
Selling, general and administrative expenses | — | (367,431 | ) | (10,692 | ) | — | (378,123 | ) | ||||||||||||
Interest (expense) and other, net | (49,291 | ) | — | 104 | — | (49,187 | ) | |||||||||||||
Equity in earnings of subsidiaries | 40,047 | 1,027 | — | (41,074 | ) | — | ||||||||||||||
(Loss) income before income taxes | (9,244 | ) | 66,196 | 1,939 | (41,074 | ) | 17,817 | |||||||||||||
Income tax benefit (expense) | 19,569 | (26,149 | ) | (740 | ) | — | (7,320 | ) | ||||||||||||
Net income | 10,325 | 40,047 | 1,199 | (41,074 | ) | 10,497 | ||||||||||||||
Noncontrolling interests | — | — | (172 | ) | — | (172 | ) | |||||||||||||
Net income attributable to Gentiva shareholders | $ | 10,325 | $ | 40,047 | $ | 1,027 | $ | (41,074 | ) | $ | 10,325 | |||||||||
Total comprehensive income | $ | 10,325 | $ | 40,047 | $ | 1,199 | $ | (41,074 | ) | $ | 10,497 | |||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||
For the Six Months Ended June 30, 2013 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
Net revenues | $ | — | $ | 805,213 | $ | 32,067 | $ | (7,265 | ) | $ | 830,015 | |||||||||
Cost of services sold | — | 425,901 | 21,884 | (7,265 | ) | 440,520 | ||||||||||||||
Gross profit | — | 379,312 | 10,183 | — | 389,495 | |||||||||||||||
Selling, general and administrative expenses | — | (312,482 | ) | (9,332 | ) | — | (321,814 | ) | ||||||||||||
Goodwill and other long-lived asset impairment | — | (224,320 | ) | — | — | (224,320 | ) | |||||||||||||
Interest (expense) and other, net | (44,473 | ) | — | 32 | — | (44,441 | ) | |||||||||||||
Equity in earnings of subsidiaries | (174,013 | ) | 509 | — | 173,504 | — | ||||||||||||||
(Loss) income before income taxes | (218,486 | ) | (156,981 | ) | 883 | 173,504 | (201,080 | ) | ||||||||||||
Income tax benefit (expense) | 17,656 | (17,032 | ) | (37 | ) | — | 587 | |||||||||||||
Net (loss) income | (200,830 | ) | (174,013 | ) | 846 | 173,504 | (200,493 | ) | ||||||||||||
Noncontrolling interests | — | — | (337 | ) | — | (337 | ) | |||||||||||||
Net (loss) income attributable to Gentiva shareholders | $ | (200,830 | ) | $ | (174,013 | ) | $ | 509 | $ | 173,504 | $ | (200,830 | ) | |||||||
Total comprehensive (loss) income | $ | (200,830 | ) | $ | (174,013 | ) | $ | 846 | $ | 173,504 | $ | (200,493 | ) | |||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||
For the Six Months Ended June 30, 2014 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
OPERATING ACTIVITIES: | ||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (22,175 | ) | $ | 57,856 | $ | (2,404 | ) | $ | (643 | ) | $ | 32,634 | |||||||
INVESTING ACTIVITIES: | ||||||||||||||||||||
Purchase of fixed assets | — | (5,980 | ) | (52 | ) | — | (6,032 | ) | ||||||||||||
Capital contribution | — | (1,740 | ) | — | 1,740 | — | ||||||||||||||
Proceeds from sale of businesses | — | 2,900 | — | (2,900 | ) | — | ||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | (2,900 | ) | 2,900 | — | ||||||||||||||
Net cash used in investing activities | — | (4,820 | ) | (2,952 | ) | 1,740 | (6,032 | ) | ||||||||||||
FINANCING ACTIVITIES: | ||||||||||||||||||||
Proceeds from issuance of common stock | 1,276 | — | — | — | 1,276 | |||||||||||||||
Windfall tax benefits associated with equity-based compensation | 21 | — | — | — | 21 | |||||||||||||||
Repayment of long-term debt | (9,163 | ) | — | — | — | (9,163 | ) | |||||||||||||
Minority interest capital contributions | — | — | 1,160 | — | 1,160 | |||||||||||||||
Majority interest capital contributions | — | — | 1,740 | (1,740 | ) | — | ||||||||||||||
Distribution to minority interests | — | — | (231 | ) | — | (231 | ) | |||||||||||||
Distribution to majority interests | — | — | (643 | ) | 643 | — | ||||||||||||||
Other | (908 | ) | (31 | ) | 472 | — | (467 | ) | ||||||||||||
Net payments related to intercompany financing | 53,005 | (53,005 | ) | — | — | — | ||||||||||||||
Net cash provided by (used in) financing activities | 44,231 | (53,036 | ) | 2,498 | (1,097 | ) | (7,404 | ) | ||||||||||||
Net change in cash and cash equivalents | 22,056 | — | (2,858 | ) | — | 19,198 | ||||||||||||||
Cash and cash equivalents at beginning of period | 55,076 | — | 31,881 | — | 86,957 | |||||||||||||||
Cash and cash equivalents at end of period | $ | 77,132 | $ | — | $ | 29,023 | $ | — | $ | 106,155 | ||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||
For the Six Months Ended June 30, 2013 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
OPERATING ACTIVITIES: | ||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (16,467 | ) | $ | 24,443 | $ | 2,190 | $ | — | $ | 10,166 | |||||||||
INVESTING ACTIVITIES: | ||||||||||||||||||||
Purchase of fixed assets | — | (7,357 | ) | (164 | ) | — | (7,521 | ) | ||||||||||||
Proceeds from sale of businesses | — | 508 | — | — | 508 | |||||||||||||||
Net cash used in investing activities | — | (6,849 | ) | (164 | ) | — | (7,013 | ) | ||||||||||||
FINANCING ACTIVITIES: | ||||||||||||||||||||
Proceeds from issuance of common stock | 1,852 | — | — | — | 1,852 | |||||||||||||||
Windfall tax benefits associated with equity-based compensation | 82 | — | — | — | 82 | |||||||||||||||
Payment of contingent consideration accrued at acquisition date | — | (1,500 | ) | — | — | (1,500 | ) | |||||||||||||
Repayment of long-term debt | (25,000 | ) | — | — | — | (25,000 | ) | |||||||||||||
Distribution to minority interests | — | — | (356 | ) | — | (356 | ) | |||||||||||||
Other | 733 | (28 | ) | (866 | ) | — | (161 | ) | ||||||||||||
Net payments related to intercompany financing | 16,066 | (16,066 | ) | — | — | — | ||||||||||||||
Net cash used in financing activities | (6,267 | ) | (17,594 | ) | (1,222 | ) | — | (25,083 | ) | |||||||||||
Net change in cash and cash equivalents | (22,734 | ) | — | 804 | — | (21,930 | ) | |||||||||||||
Cash and cash equivalents at beginning of period | 166,140 | — | 40,912 | — | 207,052 | |||||||||||||||
Cash and cash equivalents at end of period | $ | 143,406 | $ | — | $ | 41,716 | $ | — | $ | 185,122 | ||||||||||
Accounting_Policies_Policies
Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
The Company considers all investments with a maturity date three months or less from their date of acquisition to be cash equivalents, including money market funds invested in U.S. Treasury securities, short-term treasury bills and commercial paper. Cash and cash equivalents also included amounts on deposit with several major financial institutions in excess of the maximum amount insured by the Federal Deposit Insurance Corporation. Management believes that these major financial institutions are viable entities. | |
The Company had operating funds of approximately $2.9 million and $5.5 million at June 30, 2014 and December 31, 2013, respectively, which relate exclusively to a non-profit hospice operation managed in Florida. | |
Investments | ' |
Investments | |
As of June 30, 2014 and December 31, 2013, the Company held an investment, at cost, in CareCentrix Holdings Inc. of $0.9 million for shares that it expects to receive in settlement of certain tax amounts owed to the Company as set forth in the stock purchase agreement. | |
At June 30, 2014 and December 31, 2013, the Company had assets of $36.8 million and $34.7 million, respectively, held in a Rabbi Trust for the benefit of participants in the Company’s non-qualified defined contribution retirement plan. The corresponding amounts payable to the plan participants are equivalent to the underlying value of the assets held in the Rabbi Trust. Assets held in a Rabbi Trust and amounts payable to plan participants are classified in other assets and other liabilities, respectively, in the Company’s consolidated balance sheets. | |
Debt Issuance Costs | ' |
Debt Issuance Costs | |
The Company amortizes deferred debt issuance costs over the term of its credit agreement and senior notes. As of June 30, 2014 and December 31, 2013, the Company had unamortized debt issuance costs of $25.7 million and $28.3 million, respectively, recorded in other assets in the Company’s consolidated balance sheets. | |
Fixed Assets | ' |
Fixed Assets | |
Fixed assets, including costs of Company developed software, are stated at cost and depreciated over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized over the shorter of the life of the lease or the life of the improvement. Repairs and maintenance costs are expensed as incurred. As of June 30, 2014 and December 31, 2013, fixed assets, net were $44.9 million and $49.4 million, respectively. | |
At March 31, 2013, the Company performed an interim impairment test of its Hospice reporting unit. As part of that analysis, the Company reviewed the valuation of its owned real estate utilized in the Hospice business. The analysis indicated that two of the Company's hospice inpatient units had estimated fair values lower than their carrying values and, as such, the Company recorded a non-cash impairment charge of approximately $1.9 million. These charges are recorded in goodwill and other long-lived asset impairment in the Company's consolidated financial statements for the six months ended June 30, 2013. | |
In addition, the Company conducted an evaluation of the various systems used to support its field operations. In connection with that review, the Company made a strategic decision to replace its business intelligence software platform and, as such, recorded a non-cash impairment charge related to developed software, of approximately $1.6 million, which is reflected in goodwill and other long-lived asset impairment in the Company's consolidated financial statements for the six months ended June 30, 2013. | |
Goodwill and Other Indefinite-Lived Intangible Assets | ' |
Goodwill and Other Indefinite-Lived Intangible Assets | |
The Company is required to test goodwill and other indefinite-lived intangible assets for impairment on an annual basis and between annual tests if current events or circumstances require an interim impairment assessment. The Company allocates goodwill to its various reporting units upon the acquisition of the assets or stock of another third party business operation. The Company compares the fair value of each reporting unit to its carrying amount to determine if there is a potential impairment of goodwill and other indefinite-lived intangible assets. If the fair value of a reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the operating unit is less than the carrying value of its goodwill. To determine the fair value of the Company's reporting units, the Company uses a present value (discounted cash flow) technique corroborated by market multiples when available, a reconciliation to market capitalization or other valuation methodologies, and reasonableness tests, as appropriate. | |
If the carrying amount of an indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized. Fair values of other indefinite-lived intangible assets are determined based on discounted cash flows or appraised values, as appropriate. | |
At March 31, 2013, the Company performed an interim impairment test of its Hospice reporting unit. Based on the results of the interim impairment test, the Company recorded a non-cash impairment charge relating to goodwill of approximately $220.8 million, which is reflected in goodwill and other long-lived asset impairment in the Company's consolidated financial statements for the six months ended June 30, 2013. See Note 9 for additional information. | |
Obligations Under Self Insurance Programs | ' |
Obligations Under Self Insurance Programs | |
As of June 30, 2014 and December 31, 2013, the Company’s obligations under insurance programs were $76.6 million and $82.6 million, respectively. Workers’ compensation and professional and general liability expenses were $3.6 million and $10.0 million for the second quarter and first six months of 2014, respectively, as compared to $5.9 million and $12.6 million for the corresponding periods of 2013. Employee health and welfare expenses were $23.0 million and $46.4 million for the second quarter and first six months of 2014, respectively, as compared to $22.4 million and $43.0 million for the corresponding periods of 2013. | |
Nursing Home Costs | ' |
Nursing Home Costs | |
For patients receiving nursing home care under a state Medicaid program who elect hospice care under Medicare or Medicaid, the Company contracts with nursing homes for the nursing homes to provide patients’ room and board services. The state must pay the Company, in addition to the applicable Medicare or Medicaid hospice daily or hourly rate, an amount equal to at least 95 percent of the Medicaid daily nursing home rate for room and board furnished to the patient by the nursing home. Under the Company’s standard nursing home contracts, the Company pays the nursing home for these room and board services at the Medicaid daily nursing home rate. Nursing home costs are partially offset by nursing home net revenue, and the net amount is included in cost of services sold in the Company’s consolidated statements of comprehensive income. Net nursing home costs for the second quarter and first six months of 2014 were $2.6 million and $4.4 million, respectively, as compared to $2.8 million and $5.4 million for the corresponding periods of 2013. |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | ' | |||||||||||||||||||||||||||||||
Financial assets measured at fair value on a recurring basis | ' | |||||||||||||||||||||||||||||||
The Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis was as follows (in thousands): | ||||||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Money market funds | $ | 23,087 | $ | — | $ | — | $ | 23,087 | $ | 23,695 | $ | — | $ | — | $ | 23,695 | ||||||||||||||||
Rabbi Trust: | ||||||||||||||||||||||||||||||||
Mutual funds | 31,446 | — | — | 31,446 | 28,945 | — | — | 28,945 | ||||||||||||||||||||||||
Money market funds | 5,315 | — | — | 5,315 | 5,737 | — | — | 5,737 | ||||||||||||||||||||||||
Total assets | $ | 59,848 | $ | — | $ | — | $ | 59,848 | $ | 58,377 | $ | — | $ | — | $ | 58,377 | ||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Payables to plan participants | $ | 36,761 | $ | — | $ | — | $ | 36,761 | $ | 34,682 | $ | — | $ | — | $ | 34,682 | ||||||||||||||||
Acquisition contingent liability | — | — | 8,232 | 8,232 | — | — | 8,110 | 8,110 | ||||||||||||||||||||||||
Total liabilities | $ | 36,761 | $ | — | $ | 8,232 | $ | 44,993 | $ | 34,682 | $ | — | $ | 8,110 | $ | 42,792 | ||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The following table provides a summary of changes in fair value of the Company's Level 3 financial assets (in thousands): | ||||||||||||||||||||||||||||||||
Estimated Fair Value | ||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 8,110 | ||||||||||||||||||||||||||||||
Payment of contingent liability | (63 | ) | ||||||||||||||||||||||||||||||
Included in earnings | 185 | (1) | ||||||||||||||||||||||||||||||
Balance at June 30, 2014 | $ | 8,232 | ||||||||||||||||||||||||||||||
-1 | Accretion of the present value of the contingent liability is recorded in interest expense and other in the Company's consolidated statements of comprehensive income. A 1 percent change in the discount rate would have an impact on the fair value of the contingent liability of approximately $0.2 million. | |||||||||||||||||||||||||||||||
Carrying amount and estimated fair value of financial instruments | ' | |||||||||||||||||||||||||||||||
The carrying amount and estimated fair value of the Company’s other financial instruments were as follows (in thousands): | ||||||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||||||||||||
Amount | Fair Value | Amount | Fair Value | |||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Note receivable from CareCentrix | $ | 25,000 | $ | 25,661 | $ | 25,000 | $ | 26,403 | ||||||||||||||||||||||||
Seller financing note receivable from CareCentrix | 3,471 | 3,471 | 3,471 | 3,471 | ||||||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Long-term obligations | $ | 1,167,838 | $ | 1,187,735 | $ | 1,177,000 | $ | 1,183,863 | ||||||||||||||||||||||||
Net_Revenues_and_Accounts_Rece1
Net Revenues and Accounts Receivable (Tables) | 6 Months Ended | |||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||
Net Revenues and Accounts Receivable [Abstract] | ' | |||||||||||||||||||||
Net revenues by major payer classification | ' | |||||||||||||||||||||
Net revenue by major payer classes were as follows (in millions): | ||||||||||||||||||||||
Second Quarter | First Six Months | |||||||||||||||||||||
2014 | 2013 | Percentage | 2014 | 2013 | Percentage | |||||||||||||||||
Variance | Variance | |||||||||||||||||||||
Medicare: | ||||||||||||||||||||||
Home Health | $ | 218.4 | $ | 192.7 | 13.3 | % | $ | 427.2 | $ | 385.9 | 10.7 | % | ||||||||||
Hospice | 161.5 | 167.8 | (3.7 | )% | 324.7 | 335 | (3.1 | )% | ||||||||||||||
Total Medicare | 379.9 | 360.5 | 5.4 | % | 751.9 | 720.9 | 4.3 | % | ||||||||||||||
Medicaid and Local Government | 70.7 | 18.7 | 279 | % | 141.8 | 36.9 | 284.1 | % | ||||||||||||||
Commercial Insurance and Other: | ||||||||||||||||||||||
Paid at episodic rates | 17.8 | 14 | 27.9 | % | 33.4 | 28.2 | 18.6 | % | ||||||||||||||
Other | 29.6 | 21.2 | 39 | % | 58.4 | 44 | 32.8 | % | ||||||||||||||
Total Commercial Insurance and Other | 47.4 | 35.2 | 34.6 | % | 91.8 | 72.2 | 27.2 | % | ||||||||||||||
Total net revenues | $ | 498 | $ | 414.4 | 20.2 | % | $ | 985.5 | $ | 830 | 18.7 | % | ||||||||||
Accounts receivable attributable to major payer sources of reimbursement | ' | |||||||||||||||||||||
Accounts receivable attributable to major payer sources of reimbursement were as follows (in thousands): | ||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||
Medicare | $ | 208,023 | $ | 214,366 | ||||||||||||||||||
Medicaid and Local Government | 48,251 | 48,183 | ||||||||||||||||||||
Commercial Insurance and Other | 36,447 | 38,036 | ||||||||||||||||||||
Gross accounts receivable | 292,721 | 300,585 | ||||||||||||||||||||
Less: Allowance for doubtful accounts | (11,990 | ) | (10,680 | ) | ||||||||||||||||||
Net accounts receivable | $ | 280,731 | $ | 289,905 | ||||||||||||||||||
Cost_Savings_Initiatives_and_A1
Cost Savings Initiatives and Acquisition and Integration Activities (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||
Costs incurred and cash expenditures | ' | |||||||||||
The costs incurred and cash expenditures associated with these activities by component were as follows (in thousands): | ||||||||||||
Cost Savings Initiatives | Acquisition & | Total | ||||||||||
Integration | ||||||||||||
Balance at December 31, 2012 | $ | 1,685 | $ | 1,011 | $ | 2,696 | ||||||
Charge in first quarter 2013 | 47 | 94 | 141 | |||||||||
Cash expenditures | (1,104 | ) | (322 | ) | (1,426 | ) | ||||||
Ending balance at March 31, 2013 | 628 | 783 | 1,411 | |||||||||
Charge in second quarter 2013 | 138 | 606 | 744 | |||||||||
Cash expenditures | (685 | ) | (234 | ) | (919 | ) | ||||||
Ending balance at June 30, 2013 | $ | 81 | $ | 1,155 | $ | 1,236 | ||||||
Balance at December 31, 2013 | $ | 6,722 | $ | 9,703 | $ | 16,425 | ||||||
Charge in first quarter 2014 | 2,713 | 2,628 | 5,341 | |||||||||
Cash expenditures | (3,443 | ) | (3,472 | ) | (6,915 | ) | ||||||
Non-cash expenditures | (60 | ) | (86 | ) | (146 | ) | ||||||
Ending balance at March 31, 2014 | 5,932 | 8,773 | 14,705 | |||||||||
Charge in second quarter 2014 | 1,409 | 3,250 | 4,659 | |||||||||
Cash expenditures | (2,994 | ) | (3,717 | ) | (6,711 | ) | ||||||
Non-cash expenditures | (276 | ) | 5 | (271 | ) | |||||||
Ending balance at June 30, 2014 | $ | 4,071 | $ | 8,311 | $ | 12,382 | ||||||
Identifiable_Intangible_Assets1
Identifiable Intangible Assets and Goodwill (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||
Gross carrying amount and accumulated amortization of identifiable intangible assets | ' | |||||||||||||||||||||||||||||||||
The gross carrying amount and accumulated amortization of each category of identifiable intangible assets as of June 30, 2014 and December 31, 2013 were as follows (in thousands): | ||||||||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | Useful | ||||||||||||||||||||||||||||||||
Life | ||||||||||||||||||||||||||||||||||
Home | Hospice | Community Care | Total | Home | Hospice | Community Care | Total | |||||||||||||||||||||||||||
Health | Health | |||||||||||||||||||||||||||||||||
Amortized intangible assets: | ||||||||||||||||||||||||||||||||||
Covenants not to compete | $ | 2,157 | $ | 16,183 | $ | 1,029 | $ | 19,369 | $ | 2,157 | $ | 16,183 | $ | 1,029 | $ | 19,369 | 2-5 Yrs | |||||||||||||||||
Less: accumulated amortization | (1,659 | ) | (15,795 | ) | (241 | ) | (17,695 | ) | (1,553 | ) | (15,720 | ) | (91 | ) | (17,364 | ) | ||||||||||||||||||
Net covenants not to compete | 498 | 388 | 788 | 1,674 | 604 | 463 | 938 | 2,005 | ||||||||||||||||||||||||||
Customer relationships | 27,196 | 910 | — | 28,106 | 27,196 | 910 | — | 28,106 | 5-10 Yrs | |||||||||||||||||||||||||
Less: accumulated amortization | (21,170 | ) | (526 | ) | — | (21,696 | ) | (19,997 | ) | (481 | ) | — | (20,478 | ) | ||||||||||||||||||||
accumulated impairment losses | (27 | ) | — | — | (27 | ) | (27 | ) | — | — | (27 | ) | ||||||||||||||||||||||
Net customer relationships | 5,999 | 384 | — | 6,383 | 7,172 | 429 | — | 7,601 | ||||||||||||||||||||||||||
Tradenames | 19,267 | 17,528 | 11,922 | 48,717 | 19,267 | 17,528 | 11,922 | 48,717 | 5-10 Yrs | |||||||||||||||||||||||||
Less: accumulated amortization | (12,532 | ) | (4,168 | ) | (837 | ) | (17,537 | ) | (11,992 | ) | (3,763 | ) | (227 | ) | (15,982 | ) | ||||||||||||||||||
accumulated impairment losses | (6,421 | ) | (13,122 | ) | — | (19,543 | ) | (6,421 | ) | (13,122 | ) | — | (19,543 | ) | ||||||||||||||||||||
Net tradenames | 314 | 238 | 11,085 | 11,637 | 854 | 643 | 11,695 | 13,192 | ||||||||||||||||||||||||||
Amortized intangible assets | 6,811 | 1,010 | 11,873 | 19,694 | 8,630 | 1,535 | 12,633 | 22,798 | ||||||||||||||||||||||||||
Indefinite-lived intangible assets: | ||||||||||||||||||||||||||||||||||
Medicare licenses and certificates of need | 245,545 | 113,399 | 26,011 | 384,955 | 245,545 | 113,399 | 26,011 | 384,955 | ||||||||||||||||||||||||||
Less: accumulated impairment | (144,672 | ) | (6,799 | ) | — | (151,471 | ) | (144,672 | ) | (6,799 | ) | — | (151,471 | ) | ||||||||||||||||||||
losses | ||||||||||||||||||||||||||||||||||
Net Medicare licenses and certificates of need | 100,873 | 106,600 | 26,011 | 233,484 | 100,873 | 106,600 | 26,011 | 233,484 | ||||||||||||||||||||||||||
Total identifiable intangible assets | $ | 107,684 | $ | 107,610 | $ | 37,884 | $ | 253,178 | $ | 109,503 | $ | 108,135 | $ | 38,644 | $ | 256,282 | ||||||||||||||||||
Gross carrying amount of goodwill | ' | |||||||||||||||||||||||||||||||||
The gross carrying amount of goodwill as of June 30, 2014 and December 31, 2013 and activity during the first six months of 2014 were as follows (in thousands): | ||||||||||||||||||||||||||||||||||
Goodwill, Gross | Accumulated Impairment Losses | |||||||||||||||||||||||||||||||||
Home Health | Hospice | Community Care | Total | Home Health | Hospice | Total | Net | |||||||||||||||||||||||||||
Balance at December 31, 2013: | $ | 386,824 | $ | 944,285 | $ | 116,645 | $ | 1,447,754 | $ | (263,370 | ) | $ | (794,303 | ) | $ | (1,057,673 | ) | $ | 390,081 | |||||||||||||||
Goodwill acquired during 2014 | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Balance at June 30, 2014: | $ | 386,824 | $ | 944,285 | $ | 116,645 | $ | 1,447,754 | $ | (263,370 | ) | $ | (794,303 | ) | $ | (1,057,673 | ) | $ | 390,081 | |||||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Computations of the basic and diluted per share amounts | ' | |||||||||||||||
The computations of the basic and diluted per share amounts were as follows (in thousands, except per share amounts): | ||||||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||||||
30-Jun-14 | 30-Jun-13 | 30-Jun-14 | 30-Jun-13 | |||||||||||||
Net income (loss) attributable to Gentiva shareholders | $ | 10,011 | $ | 6,347 | $ | 10,325 | $ | (200,830 | ) | |||||||
Basic weighted average common shares outstanding | 36,298 | 30,941 | 36,243 | 30,863 | ||||||||||||
Shares issuable upon the assumed exercise of stock options and under stock plans for employees and directors using the treasury stock method | 629 | 298 | 547 | — | ||||||||||||
Diluted weighted average common shares outstanding | 36,927 | 31,239 | 36,790 | 30,863 | ||||||||||||
Earnings per share: | ||||||||||||||||
Basic | $ | 0.28 | $ | 0.21 | $ | 0.28 | $ | (6.51 | ) | |||||||
Diluted | $ | 0.27 | $ | 0.2 | $ | 0.28 | $ | (6.51 | ) | |||||||
Anti-dilutive shares by type: | ||||||||||||||||
Stock options | 3,122 | 3,106 | 3,025 | 2,866 | ||||||||||||
Performance share units | — | 80 | — | 80 | ||||||||||||
Restricted stock | 1 | 558 | — | 470 | ||||||||||||
Total anti-dilutive shares | 3,123 | 3,744 | 3,025 | 3,416 | ||||||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Long-term Debt, Unclassified [Abstract] | ' | |||||||||||
Long-term debt | ' | |||||||||||
As of June 30, 2014 and December 31, 2013, the Company’s long-term debt consisted of the following (in thousands): | ||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||
Credit Agreement: | ||||||||||||
Term Loan B, maturing October 18, 2019, net of unamortized discount of $6,028 and $6,508 as of June 30, 2014 and December 31, 2013, respectively | $ | 660,622 | $ | 663,492 | ||||||||
Term Loan C, maturing October 18, 2018, net of unamortized discount of $638 and $735 as of June 30, 2014 and December 31, 2013, respectively | 148,550 | 154,265 | ||||||||||
11.5% Senior Notes due 2018 | 325,000 | 325,000 | ||||||||||
Revolving Credit Facility | 27,000 | 27,000 | ||||||||||
Total debt | 1,161,172 | 1,169,757 | ||||||||||
Less: current portion of long-term debt | (49,200 | ) | (45,325 | ) | ||||||||
Total long-term debt | $ | 1,111,972 | $ | 1,124,432 | ||||||||
Applicable Rate for Term Loans | ' | |||||||||||
The Applicable Rate component of the interest rate under the Company's Credit Agreement is based on the Company's consolidated leverage ratio as follows: | ||||||||||||
Applicable Rates | ||||||||||||
Eurodollar Rate for Revolving Credit Facility and Letter of Credit Fees | Base Rate for Revolving Credit Facility | Term Loan B | Term Loan C | |||||||||
Consolidated | Eurodollar Rate | Base Rate | Eurodollar Rate | Base Rate | ||||||||
Leverage Ratio | ||||||||||||
> 4.0:1 | 4.50% | 3.50% | 5.25% | 4.25% | 4.50% | 3.50% | ||||||
< 4.0:1 | 4.25% | 3.25% | 5.25% | 4.25% | 4.50% | 3.50% | ||||||
Gentiva's permitted maximum consolidated leverage ratio | ' | |||||||||||
Gentiva’s permitted maximum consolidated leverage ratio is set forth in the following table: | ||||||||||||
Four Quarters Ending | Maximum Consolidated | |||||||||||
Leverage Ratio | ||||||||||||
March 31, 2014 to March 31, 2015 | ≤ 6.75:1 | |||||||||||
June 30, 2015 to March 31, 2016 | ≤ 6.50:1 | |||||||||||
June 30, 2016 to March 31, 2017 | ≤ 6.25:1 | |||||||||||
June 30, 2017 to December 31, 2017 | ≤ 6.00:1 | |||||||||||
March 31, 2018 and each fiscal quarter thereafter | ≤ 5.75:1 | |||||||||||
Senior Notes at redemption prices set forth below plus accrued and unpaid interest and Additional Interest | ' | |||||||||||
On or after September 1, 2014, Gentiva may redeem all or part of the Senior Notes at redemption prices set forth below plus accrued and unpaid interest and Additional Interest, if any, as defined in the indenture relating to the Senior Notes during the twelve month period beginning on September 1 of the years indicated below: | ||||||||||||
Year | Redemption Percentage | |||||||||||
2014 | 105.75% | |||||||||||
2015 | 102.88% | |||||||||||
2016 and thereafter | 100.00% |
Equity_Tables
Equity (Tables) | 6 Months Ended | ||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||||||||||||
Changes in Equity | ' | ||||||||||||||||||||||||||
Changes in equity for the six months ended June 30, 2014 and 2013 were as follows (in thousands, except share amounts): | |||||||||||||||||||||||||||
Gentiva Shareholders | |||||||||||||||||||||||||||
Common Stock | Additional | Retained | Treasury Stock | Noncontrolling Interests | |||||||||||||||||||||||
Paid-in Capital | Earnings | ||||||||||||||||||||||||||
Shares | Amount | Accumulated (Deficit) | 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 | — | — | — | (200,830 | ) | — | 337 | (200,493 | ) | ||||||||||||||||||
Total comprehensive (loss) income | — | — | — | (200,830 | ) | — | 337 | (200,493 | ) | ||||||||||||||||||
Income tax expense associated with the exercise of non-qualified stock options | — | — | (340 | ) | — | — | — | (340 | ) | ||||||||||||||||||
Equity-based compensation expense | — | — | 3,969 | — | — | — | 3,969 | ||||||||||||||||||||
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors | 566,478 | 56 | 1,793 | — | — | — | 1,849 | ||||||||||||||||||||
Distribution to partnership interests | — | — | — | — | — | (356 | ) | (356 | ) | ||||||||||||||||||
Treasury shares: | |||||||||||||||||||||||||||
Stock withheld (25,801 shares) for payroll tax withholdings related to equity-based compensation | 25,801 | 3 | — | — | (278 | ) | — | (275 | ) | ||||||||||||||||||
Balance at June 30, 2013 | 32,601,565 | $ | 3,260 | $ | 404,570 | $ | (352,165 | ) | $ | (18,130 | ) | $ | 1,519 | $ | 39,054 | ||||||||||||
Balance at December 31, 2013 | 37,713,302 | $ | 3,771 | $ | 462,262 | $ | (750,329 | ) | $ | (18,773 | ) | $ | 2,875 | $ | (300,194 | ) | |||||||||||
Comprehensive income: | |||||||||||||||||||||||||||
Net income | — | — | — | 10,325 | — | 172 | 10,497 | ||||||||||||||||||||
Total comprehensive income | — | — | — | 10,325 | — | 172 | 10,497 | ||||||||||||||||||||
Income tax expense associated with the exercise of non-qualified stock options | — | — | (2,231 | ) | — | — | — | (2,231 | ) | ||||||||||||||||||
Equity-based compensation expense | — | — | 4,387 | — | — | — | 4,387 | ||||||||||||||||||||
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors | 502,980 | 51 | 1,225 | — | — | — | 1,276 | ||||||||||||||||||||
Minority interest capital contribution | — | — | — | — | — | 1,160 | 1,160 | ||||||||||||||||||||
Distribution to partnership interests | — | — | — | — | — | (231 | ) | (231 | ) | ||||||||||||||||||
Treasury shares: | |||||||||||||||||||||||||||
Stock withheld (32,662 shares) for payroll tax withholdings related to equity-based compensation | — | — | — | — | (392 | ) | — | (392 | ) | ||||||||||||||||||
Balance at June 30, 2014 | 38,216,282 | $ | 3,822 | $ | 465,643 | $ | (740,004 | ) | $ | (19,165 | ) | $ | 3,976 | $ | (285,728 | ) | |||||||||||
EquityBased_Compensation_Plans1
Equity-Based Compensation Plans (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||
Weighted-average fair values of the Company's stock options granted | ' | ||||||||||||
The weighted average fair values of the Company’s stock options granted during the first six months of 2014 and 2013 calculated using the Black-Scholes option pricing model and other assumptions were as follows: | |||||||||||||
Six Months Ended | |||||||||||||
June 30, 2014 | June 30, 2013 | ||||||||||||
Weighted average fair value of options granted | $ | 5.08 | $ | 10.73 | |||||||||
Risk-free interest rate | 0.46% - 0.51% | 0.29% - 0.60% | |||||||||||
Expected volatility | 60% - 63% | 66% - 77% | |||||||||||
Contractual life | 7 years | 7 years | |||||||||||
Expected life | 3.4 - 5.4 years | 3.4 - 6.0 years | |||||||||||
Expected dividend yield | — | % | — | % | |||||||||
Summary of stock option activity | ' | ||||||||||||
A summary of Gentiva stock option activity as of June 30, 2014 and changes during the six months then ended is presented below: | |||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||
Options | Average | Average | Intrinsic | ||||||||||
Exercise | Remaining | Value | |||||||||||
Price | Contractual | ||||||||||||
Life (Years) | |||||||||||||
Balance as of December 31, 2013 | 4,005,589 | $ | 15.4 | ||||||||||
Granted | 737,500 | 10.9 | |||||||||||
Exercised | (14,001 | ) | 5.9 | ||||||||||
Cancelled | (701,974 | ) | 19.54 | ||||||||||
Balance as of June 30, 2014 | 4,027,114 | $ | 13.89 | 4.6 | $ | 16,389,635 | |||||||
Exercisable options | 2,434,902 | $ | 16.73 | 3.9 | $ | 7,625,105 | |||||||
Shares expected to vest as of June 30, 2014 | 1,516,839 | $ | 9.49 | 5.8 | $ | 8,441,952 | |||||||
Summary of restricted stock activity | ' | ||||||||||||
A summary of Gentiva restricted stock activity as of June 30, 2014 is presented below: | |||||||||||||
Number of | Weighted- | Aggregate | |||||||||||
Restricted | Average | Intrinsic | |||||||||||
Shares | Exercise | Value | |||||||||||
Price | |||||||||||||
Balance as of December 31, 2013 | 635,400 | $ | 18.27 | ||||||||||
Granted | 366,000 | 10.79 | |||||||||||
Exercised | (88,900 | ) | 26.58 | ||||||||||
Cancelled | (10,300 | ) | 11.37 | ||||||||||
Balance as of June 30, 2014 | 902,200 | $ | 14.53 | $ | 13,587,132 | ||||||||
Nonvested shares expected to vest as of June 30, 2014 | 834,741 | $ | 14.78 | $ | 12,571,196 | ||||||||
Performance Cash Award [Member] | ' | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||
Summary of performance share unit | ' | ||||||||||||
A summary of Gentiva's performance based cash award activity by grant year as of June 30, 2014 is presented below: | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Service period to vest: | 3 years | 3 years | 3 years | ||||||||||
Performance range of target: | 0% - 200% | 0% - 240% | 0% - 240% | ||||||||||
Performance measured on: | EPS | EPS | EPS | ||||||||||
Performance measurement period: | 1/2 based on 2012 results | 30% based on 2013 results | 100% based on 2016 results | ||||||||||
1/2 based on 2014 results | 70% based on 2015 results | ||||||||||||
Performance target achieved: | 2012 - 85% | 2013 - 0% | |||||||||||
Performance cash: | |||||||||||||
Balance at December 31, 2013 - Earned | $ | 1,804,656 | $ | — | $ | — | |||||||
Cancellations | (28,688 | ) | — | — | |||||||||
Balance at June 30, 2014 - Earned | $ | 1,775,968 | $ | — | $ | — | |||||||
Balance at December 31, 2013 - Unearned | $ | 2,123,125 | $ | 4,638,750 | $ | — | |||||||
Granted | — | — | 5,795,250 | ||||||||||
Performance target not achieved | — | (1,076,250 | ) | — | |||||||||
Cancellations | (33,750 | ) | — | (60,000 | ) | ||||||||
Balance at June 30, 2014 - Unearned | $ | 2,089,375 | $ | 3,562,500 | $ | 5,735,250 | |||||||
Business_Segment_Information_T
Business Segment Information (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||
Segment net revenues by major payer source | ' | |||||||||||||||||||||||||||
Segment net revenues by major payer source were as follows (in millions): | ||||||||||||||||||||||||||||
Second Quarter | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Home | Hospice | Community Care | Total | Home | Hospice | Total | ||||||||||||||||||||||
Health | Health | |||||||||||||||||||||||||||
Medicare | $ | 218.4 | $ | 161.5 | $ | — | $ | 379.9 | $ | 192.7 | $ | 167.8 | $ | 360.5 | ||||||||||||||
Medicaid and Local Government | 8.6 | 6.3 | 55.8 | 70.7 | 11.2 | 7.5 | 18.7 | |||||||||||||||||||||
Commercial Insurance and Other: | ||||||||||||||||||||||||||||
Paid at episodic rates | 17.8 | — | — | 17.8 | 14 | — | 14 | |||||||||||||||||||||
Other | 24.2 | 4.5 | 0.9 | 29.6 | 17.3 | 3.9 | 21.2 | |||||||||||||||||||||
Total net revenues | $ | 269 | $ | 172.3 | $ | 56.7 | $ | 498 | $ | 235.2 | $ | 179.2 | $ | 414.4 | ||||||||||||||
First Six Months | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Home | Hospice | Community Care | Total | Home | Hospice | Total | ||||||||||||||||||||||
Health | Health | |||||||||||||||||||||||||||
Medicare | $ | 427.2 | $ | 324.7 | $ | — | $ | 751.9 | $ | 385.9 | $ | 335 | $ | 720.9 | ||||||||||||||
Medicaid and Local Government | 17.1 | 12.5 | 112.2 | 141.8 | 22.4 | 14.5 | 36.9 | |||||||||||||||||||||
Commercial Insurance and Other: | ||||||||||||||||||||||||||||
Paid at episodic rates | 33.4 | — | — | 33.4 | 28.2 | — | 28.2 | |||||||||||||||||||||
Other | 47.3 | 9.5 | 1.6 | 58.4 | 34.8 | 9.2 | 44 | |||||||||||||||||||||
Total net revenues | $ | 525 | $ | 346.7 | $ | 113.8 | $ | 985.5 | $ | 471.3 | $ | 358.7 | $ | 830 | ||||||||||||||
Segment information about the Company's operations | ' | |||||||||||||||||||||||||||
Segment information about the Company’s operations is as follows (in thousands): | ||||||||||||||||||||||||||||
Home Health | Hospice | Community Care | Total | |||||||||||||||||||||||||
For the three months ended June 30, 2014 | ||||||||||||||||||||||||||||
Net revenue | $ | 269,068 | $ | 172,322 | $ | 56,650 | $ | 498,040 | ||||||||||||||||||||
Operating contribution | $ | 41,027 | $ | 22,087 | -1 | $ | 8,507 | -1 | $ | 71,621 | ||||||||||||||||||
Corporate expenses | (23,666 | ) | -1 | |||||||||||||||||||||||||
Depreciation and amortization | (6,368 | ) | ||||||||||||||||||||||||||
Interest expense and other, net | (24,689 | ) | ||||||||||||||||||||||||||
Income before income taxes | $ | 16,898 | ||||||||||||||||||||||||||
For the three months ended June 30, 2013 | ||||||||||||||||||||||||||||
Net revenue | $ | 235,216 | $ | 179,208 | $ | — | $ | 414,424 | ||||||||||||||||||||
Operating contribution | $ | 29,917 | $ | 26,437 | -1 | $ | — | $ | 56,354 | |||||||||||||||||||
Corporate expenses | (18,084 | ) | -1 | |||||||||||||||||||||||||
Depreciation and amortization | (4,730 | ) | ||||||||||||||||||||||||||
Interest expense and other, net | (22,148 | ) | ||||||||||||||||||||||||||
Income before income taxes | $ | 11,392 | ||||||||||||||||||||||||||
For the six months ended June 30, 2014 | ||||||||||||||||||||||||||||
Net revenue | $ | 525,044 | $ | 346,724 | $ | 113,777 | $ | 985,545 | ||||||||||||||||||||
Operating contribution | $ | 70,630 | -1 | $ | 39,631 | -1 | $ | 17,786 | -1 | $ | 128,047 | |||||||||||||||||
Corporate expenses | (48,228 | ) | -1 | |||||||||||||||||||||||||
Depreciation and amortization | (12,815 | ) | ||||||||||||||||||||||||||
Interest expense and other, net | (49,187 | ) | ||||||||||||||||||||||||||
Income before income taxes | $ | 17,817 | ||||||||||||||||||||||||||
Segment assets | $ | 396,674 | $ | 357,206 | $ | 170,111 | $ | 923,991 | ||||||||||||||||||||
Corporate assets | 326,560 | |||||||||||||||||||||||||||
Total assets | $ | 1,250,551 | ||||||||||||||||||||||||||
For the six months ended June 30, 2013 | ||||||||||||||||||||||||||||
Net revenue | $ | 471,277 | $ | 358,738 | $ | — | $ | 830,015 | ||||||||||||||||||||
Operating contribution | $ | 60,105 | $ | 53,858 | -1 | $ | — | $ | 113,963 | |||||||||||||||||||
Corporate expenses | (36,771 | ) | -1 | |||||||||||||||||||||||||
Goodwill and other long-lived asset impairment | (224,320 | ) | -2 | |||||||||||||||||||||||||
Depreciation and amortization | (9,511 | ) | ||||||||||||||||||||||||||
Interest expense and other, net | (44,441 | ) | ||||||||||||||||||||||||||
Loss before income taxes | $ | (201,080 | ) | |||||||||||||||||||||||||
Segment assets | $ | 247,164 | $ | 632,773 | -2 | $ | — | $ | 879,937 | |||||||||||||||||||
Corporate assets | 376,287 | -2 | ||||||||||||||||||||||||||
Total assets | $ | 1,256,224 | ||||||||||||||||||||||||||
-1 | For the second quarter and first six months of 2014, the Company recorded charges relating to cost savings initiatives and acquisition and integration activities of $4.7 million and $10.0 million, respectively. For the second quarter and first six months of 2013, the Company recorded charges relating to cost savings initiatives and acquisition and integration activities of $0.8 million and $0.9 million, respectively. | |||||||||||||||||||||||||||
The charges were reflected as follows for segment reporting purposes (in millions): | ||||||||||||||||||||||||||||
Second Quarter | First Six Months | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Home Health | $ | — | $ | — | $ | 0.6 | $ | — | ||||||||||||||||||||
Hospice | 2.5 | 0.7 | 5.4 | 0.7 | ||||||||||||||||||||||||
Community Care | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||
Corporate expenses | 2.1 | 0.1 | 3.9 | 0.2 | ||||||||||||||||||||||||
Total | $ | 4.7 | $ | 0.8 | $ | 10 | $ | 0.9 | ||||||||||||||||||||
-2 | At March 31, 2013, the Company performed an interim impairment test of its Hospice reporting unit. Based on the results of the interim impairment test, the Company recorded a non-cash impairment charge relating to goodwill of approximately $220.8 million. As part of that analysis, the Company reviewed the valuation of its owned real estate utilized in the Hospice business. The analysis indicated that two of the Company's hospice inpatient units had estimated fair values lower than their carrying values and, as such, the Company recorded a non-cash impairment charge of approximately $1.9 million. See Note 9. | |||||||||||||||||||||||||||
In addition, the Company conducted an evaluation of the various systems used to support its field operations. In connection with that review, the Company made a strategic decision to replace its business intelligence software platform and, as such, recorded a non-cash impairment charge, related to developed software, of approximately $1.6 million. | ||||||||||||||||||||||||||||
Hospice and corporate assets were reduced by $220.8 million and $3.5 million, respectively, as a result of the impairment. | ||||||||||||||||||||||||||||
Schedule of segment reporting cost allocation to segment | ' | |||||||||||||||||||||||||||
The charges were reflected as follows for segment reporting purposes (in millions): | ||||||||||||||||||||||||||||
Second Quarter | First Six Months | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Home Health | $ | — | $ | — | $ | 0.6 | $ | — | ||||||||||||||||||||
Hospice | 2.5 | 0.7 | 5.4 | 0.7 | ||||||||||||||||||||||||
Community Care | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||
Corporate expenses | 2.1 | 0.1 | 3.9 | 0.2 | ||||||||||||||||||||||||
Total | $ | 4.7 | $ | 0.8 | $ | 10 | $ | 0.9 | ||||||||||||||||||||
Supplemental_Guarantor_and_Non1
Supplemental Guarantor and Non-Guarantor Financial Information (Tables) | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Supplemental Guarantor and Non-Guarantor Financial Information [Abstract] | ' | |||||||||||||||||||
Condensed Consolidating Balance Sheet | ' | |||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 77,132 | $ | — | $ | 29,023 | $ | — | $ | 106,155 | ||||||||||
Receivables, net | — | 272,841 | 42,317 | (34,427 | ) | 280,731 | ||||||||||||||
Deferred tax assets, net | — | 21,540 | 2,747 | — | 24,287 | |||||||||||||||
Prepaid expenses and other current assets | — | 39,517 | 15,256 | — | 54,773 | |||||||||||||||
Total current assets | 77,132 | 333,898 | 89,343 | (34,427 | ) | 465,946 | ||||||||||||||
Notes receivable from CareCentrix | — | 28,471 | — | — | 28,471 | |||||||||||||||
Fixed assets, net | — | 44,426 | 522 | — | 44,948 | |||||||||||||||
Intangible assets, net | — | 250,578 | 2,600 | — | 253,178 | |||||||||||||||
Goodwill | — | 381,150 | 8,931 | — | 390,081 | |||||||||||||||
Investment in subsidiaries | 776,831 | 29,582 | — | (806,413 | ) | — | ||||||||||||||
Other assets | 25,737 | 42,184 | 6 | — | 67,927 | |||||||||||||||
Total assets | $ | 879,700 | $ | 1,110,289 | $ | 101,402 | $ | (840,840 | ) | $ | 1,250,551 | |||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of long-term debt | $ | 49,200 | $ | — | $ | — | $ | — | $ | 49,200 | ||||||||||
Accounts payable | — | 14,436 | 149 | — | 14,585 | |||||||||||||||
Other current liabilities | 1,937 | 254,794 | 67,695 | (34,427 | ) | 289,999 | ||||||||||||||
Total current liabilities | 51,137 | 269,230 | 67,844 | (34,427 | ) | 353,784 | ||||||||||||||
Long-term debt | 1,111,972 | — | — | — | 1,111,972 | |||||||||||||||
Deferred tax liabilities, net | — | 15,701 | — | — | 15,701 | |||||||||||||||
Other liabilities | 6,295 | 48,527 | — | — | 54,822 | |||||||||||||||
Total Gentiva shareholders’ (deficit) equity | (289,704 | ) | 776,831 | 29,582 | (806,413 | ) | (289,704 | ) | ||||||||||||
Noncontrolling interests | — | — | 3,976 | — | 3,976 | |||||||||||||||
Total (deficit) equity | (289,704 | ) | 776,831 | 33,558 | (806,413 | ) | (285,728 | ) | ||||||||||||
Total liabilities and equity (deficit) | $ | 879,700 | $ | 1,110,289 | $ | 101,402 | $ | (840,840 | ) | $ | 1,250,551 | |||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 55,076 | $ | — | $ | 31,881 | $ | — | $ | 86,957 | ||||||||||
Receivables, net | — | 284,379 | 34,136 | (28,610 | ) | 289,905 | ||||||||||||||
Deferred tax assets, net | — | 25,845 | 2,308 | — | 28,153 | |||||||||||||||
Prepaid expenses and other current assets | — | 50,890 | 13,856 | — | 64,746 | |||||||||||||||
Total current assets | 55,076 | 361,114 | 82,181 | (28,610 | ) | 469,761 | ||||||||||||||
Notes receivable from CareCentrix | — | 28,471 | — | — | 28,471 | |||||||||||||||
Fixed assets, net | — | 48,824 | 551 | — | 49,375 | |||||||||||||||
Intangible assets, net | — | 253,682 | 2,600 | — | 256,282 | |||||||||||||||
Goodwill | — | 384,017 | 6,064 | — | 390,081 | |||||||||||||||
Investment in subsidiaries | 791,456 | 28,382 | — | (819,838 | ) | — | ||||||||||||||
Other assets | 28,266 | 40,370 | 11 | — | 68,647 | |||||||||||||||
Total assets | $ | 874,798 | $ | 1,144,860 | $ | 91,407 | $ | (848,448 | ) | $ | 1,262,617 | |||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of long-term debt | $ | 45,325 | $ | — | $ | — | $ | — | $ | 45,325 | ||||||||||
Accounts payable | — | 15,377 | 282 | — | 15,659 | |||||||||||||||
Other current liabilities | 188 | 283,040 | 59,868 | (28,610 | ) | 314,486 | ||||||||||||||
Total current liabilities | 45,513 | 298,417 | 60,150 | (28,610 | ) | 375,470 | ||||||||||||||
Long-term debt | 1,124,432 | — | — | — | 1,124,432 | |||||||||||||||
Deferred tax liabilities, net | — | 9,825 | — | — | 9,825 | |||||||||||||||
Other liabilities | 7,922 | 45,162 | — | — | 53,084 | |||||||||||||||
Total Gentiva shareholders’ (deficit) equity | (303,069 | ) | 791,456 | 28,382 | (819,838 | ) | (303,069 | ) | ||||||||||||
Noncontrolling interests | — | — | 2,875 | — | 2,875 | |||||||||||||||
Total (deficit) equity | (303,069 | ) | 791,456 | 31,257 | (819,838 | ) | (300,194 | ) | ||||||||||||
Total liabilities and equity (deficit) | $ | 874,798 | $ | 1,144,860 | $ | 91,407 | $ | (848,448 | ) | $ | 1,262,617 | |||||||||
Condensed Consolidating Statement of Comprehensive Income | ' | |||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||
For the Three Months Ended June 30, 2014 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
Net revenues | $ | — | $ | 484,431 | $ | 16,165 | $ | (2,556 | ) | $ | 498,040 | |||||||||
Cost of services sold | — | 260,433 | 9,473 | (2,556 | ) | 267,350 | ||||||||||||||
Gross profit | — | 223,998 | 6,692 | — | 230,690 | |||||||||||||||
Selling, general and administrative expenses | — | (183,542 | ) | (5,561 | ) | — | (189,103 | ) | ||||||||||||
Interest (expense) and other, net | (24,742 | ) | — | 53 | — | (24,689 | ) | |||||||||||||
Equity in earnings of subsidiaries | 24,777 | 773 | — | (25,550 | ) | — | ||||||||||||||
Income before income taxes | 35 | 41,229 | 1,184 | (25,550 | ) | 16,898 | ||||||||||||||
Income tax benefit (expense) | 9,976 | (16,452 | ) | (423 | ) | — | (6,899 | ) | ||||||||||||
Net income | 10,011 | 24,777 | 761 | (25,550 | ) | 9,999 | ||||||||||||||
Noncontrolling interests | — | — | 12 | — | 12 | |||||||||||||||
Net income attributable to Gentiva shareholders | $ | 10,011 | $ | 24,777 | $ | 773 | $ | (25,550 | ) | $ | 10,011 | |||||||||
Total comprehensive income | $ | 10,011 | $ | 24,777 | $ | 761 | $ | (25,550 | ) | $ | 9,999 | |||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||
For the Three Months Ended June 30, 2013 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
Net revenues | $ | — | $ | 402,068 | $ | 16,442 | $ | (4,086 | ) | $ | 414,424 | |||||||||
Cost of services sold | — | 212,699 | 10,334 | (4,086 | ) | 218,947 | ||||||||||||||
Gross profit | — | 189,369 | 6,108 | — | 195,477 | |||||||||||||||
Selling, general and administrative expenses | — | (157,232 | ) | (4,705 | ) | — | (161,937 | ) | ||||||||||||
Interest (expense) and other, net | (22,163 | ) | — | 15 | — | (22,148 | ) | |||||||||||||
Equity in earnings of subsidiaries | 19,113 | 835 | — | (19,948 | ) | — | ||||||||||||||
(Loss) income before income taxes | (3,050 | ) | 32,972 | 1,418 | (19,948 | ) | 11,392 | |||||||||||||
Income tax benefit (expense) | 9,397 | (13,859 | ) | (367 | ) | — | (4,829 | ) | ||||||||||||
Net income | 6,347 | 19,113 | 1,051 | (19,948 | ) | 6,563 | ||||||||||||||
Noncontrolling interests | — | — | (216 | ) | — | (216 | ) | |||||||||||||
Net income attributable to Gentiva shareholders | $ | 6,347 | $ | 19,113 | $ | 835 | $ | (19,948 | ) | $ | 6,347 | |||||||||
Total comprehensive income | $ | 6,347 | $ | 19,113 | $ | 1,051 | $ | (19,948 | ) | $ | 6,563 | |||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||
For the Six Months Ended June 30, 2014 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
Net revenues | $ | — | $ | 959,126 | $ | 34,109 | $ | (7,690 | ) | $ | 985,545 | |||||||||
Cost of services sold | — | 526,526 | 21,582 | (7,690 | ) | 540,418 | ||||||||||||||
Gross profit | — | 432,600 | 12,527 | — | 445,127 | |||||||||||||||
Selling, general and administrative expenses | — | (367,431 | ) | (10,692 | ) | — | (378,123 | ) | ||||||||||||
Interest (expense) and other, net | (49,291 | ) | — | 104 | — | (49,187 | ) | |||||||||||||
Equity in earnings of subsidiaries | 40,047 | 1,027 | — | (41,074 | ) | — | ||||||||||||||
(Loss) income before income taxes | (9,244 | ) | 66,196 | 1,939 | (41,074 | ) | 17,817 | |||||||||||||
Income tax benefit (expense) | 19,569 | (26,149 | ) | (740 | ) | — | (7,320 | ) | ||||||||||||
Net income | 10,325 | 40,047 | 1,199 | (41,074 | ) | 10,497 | ||||||||||||||
Noncontrolling interests | — | — | (172 | ) | — | (172 | ) | |||||||||||||
Net income attributable to Gentiva shareholders | $ | 10,325 | $ | 40,047 | $ | 1,027 | $ | (41,074 | ) | $ | 10,325 | |||||||||
Total comprehensive income | $ | 10,325 | $ | 40,047 | $ | 1,199 | $ | (41,074 | ) | $ | 10,497 | |||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||
For the Six Months Ended June 30, 2013 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
Net revenues | $ | — | $ | 805,213 | $ | 32,067 | $ | (7,265 | ) | $ | 830,015 | |||||||||
Cost of services sold | — | 425,901 | 21,884 | (7,265 | ) | 440,520 | ||||||||||||||
Gross profit | — | 379,312 | 10,183 | — | 389,495 | |||||||||||||||
Selling, general and administrative expenses | — | (312,482 | ) | (9,332 | ) | — | (321,814 | ) | ||||||||||||
Goodwill and other long-lived asset impairment | — | (224,320 | ) | — | — | (224,320 | ) | |||||||||||||
Interest (expense) and other, net | (44,473 | ) | — | 32 | — | (44,441 | ) | |||||||||||||
Equity in earnings of subsidiaries | (174,013 | ) | 509 | — | 173,504 | — | ||||||||||||||
(Loss) income before income taxes | (218,486 | ) | (156,981 | ) | 883 | 173,504 | (201,080 | ) | ||||||||||||
Income tax benefit (expense) | 17,656 | (17,032 | ) | (37 | ) | — | 587 | |||||||||||||
Net (loss) income | (200,830 | ) | (174,013 | ) | 846 | 173,504 | (200,493 | ) | ||||||||||||
Noncontrolling interests | — | — | (337 | ) | — | (337 | ) | |||||||||||||
Net (loss) income attributable to Gentiva shareholders | $ | (200,830 | ) | $ | (174,013 | ) | $ | 509 | $ | 173,504 | $ | (200,830 | ) | |||||||
Total comprehensive (loss) income | $ | (200,830 | ) | $ | (174,013 | ) | $ | 846 | $ | 173,504 | $ | (200,493 | ) | |||||||
Condensed Consolidating Statement of Cash Flows | ' | |||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||
For the Six Months Ended June 30, 2014 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
OPERATING ACTIVITIES: | ||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (22,175 | ) | $ | 57,856 | $ | (2,404 | ) | $ | (643 | ) | $ | 32,634 | |||||||
INVESTING ACTIVITIES: | ||||||||||||||||||||
Purchase of fixed assets | — | (5,980 | ) | (52 | ) | — | (6,032 | ) | ||||||||||||
Capital contribution | — | (1,740 | ) | — | 1,740 | — | ||||||||||||||
Proceeds from sale of businesses | — | 2,900 | — | (2,900 | ) | — | ||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | (2,900 | ) | 2,900 | — | ||||||||||||||
Net cash used in investing activities | — | (4,820 | ) | (2,952 | ) | 1,740 | (6,032 | ) | ||||||||||||
FINANCING ACTIVITIES: | ||||||||||||||||||||
Proceeds from issuance of common stock | 1,276 | — | — | — | 1,276 | |||||||||||||||
Windfall tax benefits associated with equity-based compensation | 21 | — | — | — | 21 | |||||||||||||||
Repayment of long-term debt | (9,163 | ) | — | — | — | (9,163 | ) | |||||||||||||
Minority interest capital contributions | — | — | 1,160 | — | 1,160 | |||||||||||||||
Majority interest capital contributions | — | — | 1,740 | (1,740 | ) | — | ||||||||||||||
Distribution to minority interests | — | — | (231 | ) | — | (231 | ) | |||||||||||||
Distribution to majority interests | — | — | (643 | ) | 643 | — | ||||||||||||||
Other | (908 | ) | (31 | ) | 472 | — | (467 | ) | ||||||||||||
Net payments related to intercompany financing | 53,005 | (53,005 | ) | — | — | — | ||||||||||||||
Net cash provided by (used in) financing activities | 44,231 | (53,036 | ) | 2,498 | (1,097 | ) | (7,404 | ) | ||||||||||||
Net change in cash and cash equivalents | 22,056 | — | (2,858 | ) | — | 19,198 | ||||||||||||||
Cash and cash equivalents at beginning of period | 55,076 | — | 31,881 | — | 86,957 | |||||||||||||||
Cash and cash equivalents at end of period | $ | 77,132 | $ | — | $ | 29,023 | $ | — | $ | 106,155 | ||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||
For the Six Months Ended June 30, 2013 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Gentiva Health | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Services, Inc. | Subsidiaries | Subsidiaries | Total | |||||||||||||||||
OPERATING ACTIVITIES: | ||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (16,467 | ) | $ | 24,443 | $ | 2,190 | $ | — | $ | 10,166 | |||||||||
INVESTING ACTIVITIES: | ||||||||||||||||||||
Purchase of fixed assets | — | (7,357 | ) | (164 | ) | — | (7,521 | ) | ||||||||||||
Proceeds from sale of businesses | — | 508 | — | — | 508 | |||||||||||||||
Net cash used in investing activities | — | (6,849 | ) | (164 | ) | — | (7,013 | ) | ||||||||||||
FINANCING ACTIVITIES: | ||||||||||||||||||||
Proceeds from issuance of common stock | 1,852 | — | — | — | 1,852 | |||||||||||||||
Windfall tax benefits associated with equity-based compensation | 82 | — | — | — | 82 | |||||||||||||||
Payment of contingent consideration accrued at acquisition date | — | (1,500 | ) | — | — | (1,500 | ) | |||||||||||||
Repayment of long-term debt | (25,000 | ) | — | — | — | (25,000 | ) | |||||||||||||
Distribution to minority interests | — | — | (356 | ) | — | (356 | ) | |||||||||||||
Other | 733 | (28 | ) | (866 | ) | — | (161 | ) | ||||||||||||
Net payments related to intercompany financing | 16,066 | (16,066 | ) | — | — | — | ||||||||||||||
Net cash used in financing activities | (6,267 | ) | (17,594 | ) | (1,222 | ) | — | (25,083 | ) | |||||||||||
Net change in cash and cash equivalents | (22,734 | ) | — | 804 | — | (21,930 | ) | |||||||||||||
Cash and cash equivalents at beginning of period | 166,140 | — | 40,912 | — | 207,052 | |||||||||||||||
Cash and cash equivalents at end of period | $ | 143,406 | $ | — | $ | 41,716 | $ | — | $ | 185,122 | ||||||||||
Background_and_Basis_of_Presen1
Background and Basis of Presentation (Details Textual) | Jun. 30, 2014 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Noncontrolling Interest, ownership percentage by parent | 50.00% |
Accounting_Policies_Details
Accounting Policies (Details) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | |
CareCentrix [Member] | CareCentrix [Member] | CareCentrix [Member] | Hospice [Member] | Hospice [Member] | Hospice [Member] | Hospice [Member] | Hospice [Member] | Non-profit hospice [Member] | Non-profit hospice [Member] | ||||||
Schedule of Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating funds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,900,000 | $5,500,000 |
Cost method investments | ' | ' | ' | ' | ' | 900,000 | 900,000 | 900,000 | ' | ' | ' | ' | ' | ' | ' |
Assets held in rabbi trust | 36,800,000 | ' | 36,800,000 | ' | 34,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized debt issuance costs | 25,700,000 | ' | 25,700,000 | ' | 28,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed assets, net | 44,948,000 | ' | 44,948,000 | ' | 49,375,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, impairment loss | ' | ' | ' | ' | ' | ' | ' | ' | 379,800,000 | 220,800,000 | ' | 220,800,000 | 600,600,000 | ' | ' |
Obligations under insurance programs | 76,605,000 | ' | 76,605,000 | ' | 82,634,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Workers compensation and professional and general liability expenses | 3,600,000 | 5,900,000 | 10,000,000 | 12,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee health and welfare expenses | 23,000,000 | 22,400,000 | 46,400,000 | 43,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Medicaid daily nursing home rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95.00% | ' | ' | ' | ' |
Net nursing home expense | $2,600,000 | $2,800,000 | $4,400,000 | $5,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounting_Policies_Accounting
Accounting Policies Accounting Policies (Fixed Assets) (Details) (USD $) | 6 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2013 |
Land and Building [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Asset impairment charges | $1.90 |
Software Development [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Asset impairment charges | $1.60 |
Acquisitions_and_Dispositions_
Acquisitions and Dispositions (Details Textual) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Oct. 18, 2013 | Feb. 28, 2014 | Jun. 30, 2014 | Oct. 18, 2013 | Apr. 30, 2013 |
Harden Healthcare Holdings Inc. [Member] | NORTH CAROLINA | NORTH CAROLINA | UNITED STATES | INDIANA | |||
Wake Forest Baptist Health Care at Home, LLC [Member] | Wake Forest Baptist Health Care at Home, LLC [Member] | Harden Healthcare Holdings Inc. [Member] | Hope Hospice Inc [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Equity Method Investments | ' | ' | ' | $2,900,000 | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | 50.00% | ' | ' | ' | 60.00% | ' | ' |
Effective date of acquisition | ' | ' | ' | ' | ' | 18-Oct-13 | 30-Apr-13 |
Name of acquired entity | ' | ' | ' | ' | ' | 'Harden Healthcare Holdings, Inc. | 'Hope Hospice, Inc. |
Purchase price | ' | ' | ' | ' | ' | 426,800,000 | 1,000,000 |
Cost of acquired entity, cash paid | ' | ' | 365,000,000 | ' | ' | ' | ' |
Issuance of stock in connection with Harden acquisition, value | ' | ' | 53,800,000 | ' | ' | ' | ' |
Contingent consideration arrangements, range of outcomes, value, high | ' | ' | 9,500,000 | ' | ' | ' | ' |
Contingent consideration, liability | ' | ' | 8,100,000 | ' | ' | ' | ' |
Purchase price allocation, intangible assets not amortizable | ' | ' | ' | ' | ' | ' | 500,000 |
Purchase price allocation, current assets, receivables | ' | ' | ' | ' | ' | ' | 300,000 |
Goodwill | $390,081,000 | $390,081,000 | ' | ' | ' | ' | $200,000 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Inputs, Level 3 [Member] | Accrued Liabilities [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $8,232 | $8,110 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 59,848 | 58,377 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 44,993 | 42,792 |
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 23,087 | 23,695 |
Fair Value, Measurements, Recurring [Member] | Accounts Payable [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 36,761 | 34,682 |
Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 8,232 | 8,110 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 59,848 | 58,377 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 36,761 | 34,682 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 23,087 | 23,695 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Accounts Payable [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 36,761 | 34,682 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Accrued Liabilities [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Accounts Payable [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Accrued Liabilities [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 8,232 | 8,110 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Accounts Payable [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Accrued Liabilities [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 8,232 | 8,110 |
Fair Value, Measurements, Recurring [Member] | Rabbi Trust [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 5,315 | 5,737 |
Fair Value, Measurements, Recurring [Member] | Rabbi Trust [Member] | Equity Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 31,446 | 28,945 |
Fair Value, Measurements, Recurring [Member] | Rabbi Trust [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 5,315 | 5,737 |
Fair Value, Measurements, Recurring [Member] | Rabbi Trust [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 31,446 | 28,945 |
Fair Value, Measurements, Recurring [Member] | Rabbi Trust [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Rabbi Trust [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Rabbi Trust [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Rabbi Trust [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Funds [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Assets, Fair Value Disclosure | $0 | $0 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments Fair Value of Financial Instruments (Details 1) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | |
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Discount Rate | $200,000 | |
Fair Value, Inputs, Level 3 [Member] | Accrued Liabilities [Member] | ' | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | |
Beginning Balance | 8,110,000 | |
Payment of contingent liability | -63,000 | |
Included in Earnings | 185,000 | [1] |
Ending Balance | $8,232,000 | |
[1] | (1)Accretion of the present value of the contingent liability is recorded in interest expense and other in the Company's consolidated statements of comprehensive income. A 1 percent change in the discount rate would have an impact on the fair value of the contingent liability of approximately $0.2 million. |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments (Details 2) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Carrying Amount [Member] | ' | ' |
Assets: | ' | ' |
Note receivable from CareCentrix | $25,000 | $25,000 |
Seller financing note receivable from CareCentrix | 3,471 | 3,471 |
Liabilities: | ' | ' |
Long-term obligation | 1,167,838 | 1,177,000 |
Estimate Fair Value [Member] | ' | ' |
Assets: | ' | ' |
Note receivable from CareCentrix | 25,661 | 26,403 |
Seller financing note receivable from CareCentrix | 3,471 | 3,471 |
Liabilities: | ' | ' |
Long-term obligation | $1,187,735 | $1,183,863 |
Net_Revenues_and_Accounts_Rece2
Net Revenues and Accounts Receivable (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | $498,040 | $414,424 | $985,545 | $830,015 |
Percentage variance | 20.20% | ' | 18.70% | ' |
Home Health [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 269,000 | 235,200 | 525,000 | 471,300 |
Hospice [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 172,300 | 179,200 | 346,700 | 358,700 |
Medicare [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 379,900 | 360,500 | 751,900 | 720,900 |
Percentage variance | 5.40% | ' | 4.30% | ' |
Medicare [Member] | Home Health [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 218,400 | 192,700 | 427,200 | 385,900 |
Percentage variance | 13.30% | ' | 10.70% | ' |
Medicare [Member] | Hospice [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 161,500 | 167,800 | 324,700 | 335,000 |
Percentage variance | -3.70% | ' | -3.10% | ' |
Medicaid and Local Government [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 70,700 | 18,700 | 141,800 | 36,900 |
Percentage variance | 279.00% | ' | 284.10% | ' |
Medicaid and Local Government [Member] | Home Health [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 8,600 | 11,200 | 17,100 | 22,400 |
Medicaid and Local Government [Member] | Hospice [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 6,300 | 7,500 | 12,500 | 14,500 |
Commercial Insurance and Other [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 47,400 | 35,200 | 91,800 | 72,200 |
Percentage variance | 34.60% | ' | 27.20% | ' |
Commercial Insurance and Other [Member] | Paid at Episodic Rates [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 17,800 | 14,000 | 33,400 | 28,200 |
Percentage variance | 27.90% | ' | 18.60% | ' |
Commercial Insurance and Other [Member] | Commercial Insurance Other [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 29,600 | 21,200 | 58,400 | 44,000 |
Percentage variance | 39.00% | ' | 32.80% | ' |
Commercial Insurance and Other [Member] | Home Health [Member] | Paid at Episodic Rates [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 17,800 | 14,000 | 33,400 | 28,200 |
Commercial Insurance and Other [Member] | Home Health [Member] | Commercial Insurance Other [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 24,200 | 17,300 | 47,300 | 34,800 |
Commercial Insurance and Other [Member] | Hospice [Member] | Paid at Episodic Rates [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | 0 | 0 | 0 | 0 |
Commercial Insurance and Other [Member] | Hospice [Member] | Commercial Insurance Other [Member] | ' | ' | ' | ' |
Net revenues by major payer classification | ' | ' | ' | ' |
Net revenues | $4,500 | $3,900 | $9,500 | $9,200 |
Net_Revenues_and_Accounts_Rece3
Net Revenues and Accounts Receivable (Details 1) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts receivable attributable to major payer sources of reimbursement | ' | ' |
Gross Accounts Receivable | $292,721 | $300,585 |
Less: Allowance for doubtful accounts | -11,990 | -10,680 |
Net Accounts Receivable | 280,731 | 289,905 |
Medicare [Member] | ' | ' |
Accounts receivable attributable to major payer sources of reimbursement | ' | ' |
Gross Accounts Receivable | 208,023 | 214,366 |
Medicaid and Local Government [Member] | ' | ' |
Accounts receivable attributable to major payer sources of reimbursement | ' | ' |
Gross Accounts Receivable | 48,251 | 48,183 |
Commercial Insurance and Other [Member] | ' | ' |
Accounts receivable attributable to major payer sources of reimbursement | ' | ' |
Gross Accounts Receivable | $36,447 | $38,036 |
Net_Revenues_and_Accounts_Rece4
Net Revenues and Accounts Receivable (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Schedule of Health Care Revenue Adjustment [Line Items] | ' | ' | ' | ' | ' |
Medicare Hospice Cap (income) expense | $0.90 | ($1.40) | $1 | ($1.50) | ' |
Medicare Hospice Cap Liabilities | 4.1 | ' | 4.1 | ' | 6.5 |
Commercials Insurance self pay accounts receivables related to patient | 2.3 | ' | 2.3 | ' | 2.4 |
Medicare Cap Year 2014 [Member] | ' | ' | ' | ' | ' |
Schedule of Health Care Revenue Adjustment [Line Items] | ' | ' | ' | ' | ' |
Medicare Hospice Cap (income) expense | ' | ' | 1.4 | ' | ' |
Hospice programs exceeding Medicare Payment Cap | 6 | ' | 6 | ' | ' |
Prior Year Medicare Cap Settlement [Member] | ' | ' | ' | ' | ' |
Schedule of Health Care Revenue Adjustment [Line Items] | ' | ' | ' | ' | ' |
Medicare Hospice Cap (income) expense | ' | 2.4 | ' | 2.4 | ' |
Hospice [Member] | Eligibility Review [Member] | ' | ' | ' | ' | ' |
Schedule of Health Care Revenue Adjustment [Line Items] | ' | ' | ' | ' | ' |
Patient service revenue adjustments | $1.10 | $0.80 | $2.30 | $1.60 | ' |
Investment_in_and_Notes_Receiv1
Investment in and Notes Receivable from CareCentrix (Details Textual) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||
Aug. 24, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 24, 2012 | Dec. 31, 2012 | |
CareCentrix [Member] | CareCentrix [Member] | CareCentrix [Member] | Escrow fund, reclass to note receivable [Member] | Escrow fund, indemnified claims [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Promissory note | ' | $25,000,000 | ' | ' | $25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Investment maturity date | 19-Mar-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed interest rate on promissory note | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Investment income, nonoperating | ' | 625,000 | 625,000 | ' | 1,250,000 | 1,250,000 | ' | ' | ' | ' | ' | ' | ' |
Escrow fund receivable | ' | ' | ' | ' | ' | ' | ' | 10,600,000 | ' | ' | ' | ' | ' |
Reduction in escrow fund receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,900,000 | 700,000 |
Seller financing note receivable | 9,900,000 | 3,400,000 | ' | ' | 3,400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on promissory note, thereafter | 18.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in notes receivable | ' | ' | ' | 6,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost method investments | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | 900,000 | 900,000 | ' | ' |
Allowance for credit losses | ' | $0 | ' | ' | $0 | ' | $0 | ' | ' | ' | ' | ' | ' |
Cost_Savings_Initiatives_and_A2
Cost Savings Initiatives and Acquisition and Integration Activities (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Costs incurred and cash expenditures | ' | ' | ' | ' | ' | ' |
Beginning Balance | $14,705 | $16,425 | $1,411 | $2,696 | $16,425 | $2,696 |
Restructuring charges | 4,659 | 5,341 | 744 | 141 | 10,000 | 900 |
Cash Expenditure | -6,711 | -6,915 | -919 | -1,426 | ' | ' |
Non-cash expenditures | -271 | -146 | ' | ' | ' | ' |
Ending Balance | 12,382 | 14,705 | 1,236 | 1,411 | 12,382 | 1,236 |
Cost Savings and Other Restructuring [Member] | ' | ' | ' | ' | ' | ' |
Costs incurred and cash expenditures | ' | ' | ' | ' | ' | ' |
Beginning Balance | 5,932 | 6,722 | 628 | 1,685 | 6,722 | 1,685 |
Restructuring charges | 1,409 | 2,713 | 138 | 47 | 4,100 | 185 |
Cash Expenditure | -2,994 | -3,443 | -685 | -1,104 | ' | ' |
Non-cash expenditures | -276 | -60 | ' | ' | ' | ' |
Ending Balance | 4,071 | 5,932 | 81 | 628 | 4,071 | 81 |
Acquisition & Integration [Member] | ' | ' | ' | ' | ' | ' |
Costs incurred and cash expenditures | ' | ' | ' | ' | ' | ' |
Beginning Balance | 8,773 | 9,703 | 783 | 1,011 | 9,703 | 1,011 |
Restructuring charges | 3,250 | 2,628 | 606 | 94 | 5,900 | 700 |
Cash Expenditure | -3,717 | -3,472 | -234 | -322 | ' | ' |
Non-cash expenditures | 5 | -86 | ' | ' | ' | ' |
Ending Balance | $8,311 | $8,773 | $1,155 | $783 | $8,311 | $1,155 |
Cost_Savings_Initiatives_and_A3
Cost Savings Initiatives and Acquisition and Integration Activities (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | $4,659 | $5,341 | $744 | $141 | $10,000 | $900 | ' | ' |
Restructuring reserve | 12,382 | 14,705 | 1,236 | 1,411 | 12,382 | 1,236 | 16,425 | 2,696 |
Cost Savings Initiative [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | 1,409 | 2,713 | 138 | 47 | 4,100 | 185 | ' | ' |
Number of Branches closed, consolidated or divested | ' | ' | ' | ' | 94 | ' | ' | ' |
Restructuring reserve | 4,071 | 5,932 | 81 | 628 | 4,071 | 81 | 6,722 | 1,685 |
Acquisition Integration [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | 3,250 | 2,628 | 606 | 94 | 5,900 | 700 | ' | ' |
Restructuring reserve | $8,311 | $8,773 | $1,155 | $783 | $8,311 | $1,155 | $9,703 | $1,011 |
Identifiable_Intangible_Assets2
Identifiable Intangible Assets and Goodwill (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | Home Health [Member] | Home Health [Member] | Hospice [Member] | Hospice [Member] | Community Care [Member] | Community Care [Member] | Medicare licenses and certificates of need [Member] | Medicare licenses and certificates of need [Member] | Medicare licenses and certificates of need [Member] | Medicare licenses and certificates of need [Member] | Medicare licenses and certificates of need [Member] | Medicare licenses and certificates of need [Member] | Medicare licenses and certificates of need [Member] | Medicare licenses and certificates of need [Member] | Covenants not to compete [Member] | Covenants not to compete [Member] | Covenants not to compete [Member] | Covenants not to compete [Member] | Covenants not to compete [Member] | Covenants not to compete [Member] | Covenants not to compete [Member] | Covenants not to compete [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Trade Names [Member] | Trade Names [Member] | Trade Names [Member] | Trade Names [Member] | Trade Names [Member] | Trade Names [Member] | Trade Names [Member] | Trade Names [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | ||
Home Health [Member] | Home Health [Member] | Hospice [Member] | Hospice [Member] | Community Care [Member] | Community Care [Member] | Home Health [Member] | Home Health [Member] | Hospice [Member] | Hospice [Member] | Community Care [Member] | Community Care [Member] | Home Health [Member] | Home Health [Member] | Hospice [Member] | Hospice [Member] | Community Care [Member] | Community Care [Member] | Home Health [Member] | Home Health [Member] | Hospice [Member] | Hospice [Member] | Community Care [Member] | Community Care [Member] | Covenants not to compete [Member] | Customer Relationships [Member] | Trade Names [Member] | Covenants not to compete [Member] | Customer Relationships [Member] | Trade Names [Member] | |||||||||||||||||
Amortized intangible assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $19,369 | $19,369 | $2,157 | $2,157 | $16,183 | $16,183 | $1,029 | $1,029 | $28,106 | $28,106 | $27,196 | $27,196 | $910 | $910 | $0 | $0 | $48,717 | $48,717 | $19,267 | $19,267 | $17,528 | $17,528 | $11,922 | $11,922 | ' | ' | ' | ' | ' | ' |
Less: Accumulated Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -17,695 | -17,364 | -1,659 | -1,553 | -15,795 | -15,720 | -241 | -91 | -21,696 | -20,478 | -21,170 | -19,997 | -526 | -481 | 0 | 0 | -17,537 | -15,982 | -12,532 | -11,992 | -4,168 | -3,763 | -837 | -227 | ' | ' | ' | ' | ' | ' |
Finite Lived Intangible Assets, Accumulated Impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -27 | -27 | -27 | -27 | 0 | 0 | 0 | 0 | -19,543 | -19,543 | -6,421 | -6,421 | -13,122 | -13,122 | 0 | 0 | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net | 19,694 | 22,798 | 6,811 | 8,630 | 1,010 | 1,535 | 11,873 | 12,633 | ' | ' | ' | ' | ' | ' | ' | ' | 1,674 | 2,005 | 498 | 604 | 388 | 463 | 788 | 938 | 6,383 | 7,601 | 5,999 | 7,172 | 384 | 429 | 0 | 0 | 11,637 | 13,192 | 314 | 854 | 238 | 643 | 11,085 | 11,695 | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '10 years | '10 years | '2 years | '5 years | '5 years |
Indefinite-lived intangible assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indefinite-Lived Intangible Assets | ' | ' | ' | ' | ' | ' | ' | ' | 384,955 | 384,955 | 245,545 | 245,545 | 113,399 | 113,399 | 26,011 | 26,011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indefinite Lived Intangible Assets, Accumulated Impairment | ' | ' | ' | ' | ' | ' | ' | ' | -151,471 | -151,471 | -144,672 | -144,672 | -6,799 | -6,799 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indefinite Lived Intangible Assets, Net | ' | ' | ' | ' | ' | ' | ' | ' | 233,484 | 233,484 | 100,873 | 100,873 | 106,600 | 106,600 | 26,011 | 26,011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total identifiable intangible assets | $253,178 | $256,282 | $107,684 | $109,503 | $107,610 | $108,135 | $37,884 | $38,644 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable_Intangible_Assets3
Identifiable Intangible Assets and Goodwill (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' |
Goodwill, Gross | $1,447,754,000 | ' | $1,447,754,000 | ' | $1,447,754,000 |
Goodwill, Impaired, Accumulated Impairment Loss | -1,057,673,000 | ' | -1,057,673,000 | ' | -1,057,673,000 |
Goodwill | 390,081,000 | ' | 390,081,000 | ' | 390,081,000 |
Goodwill, Acquired During Period | ' | ' | 0 | ' | ' |
Home Health [Member] | ' | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' |
Goodwill, Gross | 386,824,000 | ' | 386,824,000 | ' | 386,824,000 |
Goodwill, Impaired, Accumulated Impairment Loss | -263,370,000 | ' | -263,370,000 | ' | -263,370,000 |
Goodwill, Acquired During Period | ' | ' | 0 | ' | ' |
Hospice [Member] | ' | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' |
Goodwill, Gross | 944,285,000 | ' | 944,285,000 | ' | 944,285,000 |
Goodwill, Impaired, Accumulated Impairment Loss | -794,303,000 | ' | -794,303,000 | ' | -794,303,000 |
Goodwill, Acquired During Period | ' | ' | 0 | ' | ' |
Goodwill, Impairment Loss | -379,800,000 | -220,800,000 | ' | -220,800,000 | -600,600,000 |
Community Care [Member] | ' | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' |
Goodwill, Gross | 116,645,000 | ' | 116,645,000 | ' | 116,645,000 |
Goodwill, Acquired During Period | ' | ' | $0 | ' | ' |
Identifiable_Intangible_Assets4
Identifiable Intangible Assets and Goodwill (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | ||||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 |
Hospice [Member] | Hospice [Member] | Hospice [Member] | Hospice [Member] | Hospice [Member] | Hospice [Member] | |||||
Overstated [Member] | Understated [Member] | |||||||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount rate | ' | ' | ' | ' | ' | ' | 9.50% | ' | ' | ' |
Goodwill impairment test, net book value of reporting unit | ' | ' | ' | ' | ' | $555 | ' | ' | ' | ' |
Goodwill, impairment loss | ' | ' | ' | ' | 379.8 | 220.8 | 220.8 | 600.6 | 26.5 | 26.5 |
Amortization expense | 1.6 | 1.3 | 3.1 | 2.5 | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for the remainder of 2014 | 2.6 | ' | 2.6 | ' | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for 2015 | 4.1 | ' | 4.1 | ' | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for 2016 | 3.1 | ' | 3.1 | ' | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for 2017 | 2.4 | ' | 2.4 | ' | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for 2018 | 1.6 | ' | 1.6 | ' | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for 2019 | $1.30 | ' | $1.30 | ' | ' | ' | ' | ' | ' | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Computations of the basic and diluted per share amounts | ' | ' | ' | ' |
Net income (loss) attributable to Gentiva shareholders | $10,011 | $6,347 | $10,325 | ($200,830) |
Basic weighted average common shares outstanding | 36,298 | 30,941 | 36,243 | 30,863 |
Shares issuable upon the assumed exercise of stock options and under stock plans for employees and directors using the treasury stock method | 629 | 298 | 547 | 0 |
Diluted weighted average common shares outstanding | 36,927 | 31,239 | 36,790 | 30,863 |
Basic earnings per common share | ' | ' | ' | ' |
Net income (loss) attributable to Gentiva shareholders | $0.28 | $0.21 | $0.28 | ($6.51) |
Diluted earnings per common share: | ' | ' | ' | ' |
Net income (loss) attributable to Gentiva shareholders | $0.27 | $0.20 | $0.28 | ($6.51) |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares | 3,123 | 3,744 | 3,025 | 3,416 |
Employee Stock Option [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares | 3,122 | 3,106 | 3,025 | 2,866 |
Performance Shares [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares | 0 | 80 | 0 | 80 |
Restricted Stock [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares | 1 | 558 | 0 | 470 |
Earnings_Per_Share_Details_Tex
Earnings Per Share (Details Textual) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, amount | 3,123 | 3,744 | 3,025 | 3,416 |
LongTerm_Debt_Details
Long-Term Debt (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Long-term debt | ' | ' |
Total debt | $1,161,172 | $1,169,757 |
Less: current portion of long-term debt | -49,200 | -45,325 |
Total long-term debt | 1,111,972 | 1,124,432 |
Senior Subordinated Notes [Member] | ' | ' |
Long-term debt | ' | ' |
Senior notes, noncurrent | 325,000 | 325,000 |
Revolving Credit Facility [Member] | ' | ' |
Long-term debt | ' | ' |
Line of Credit Facility, Amount Outstanding | 27,000 | 27,000 |
Term Loan B, dated October 18, 2013 [Member] | Loans Payable [Member] | ' | ' |
Long-term debt | ' | ' |
Total debt | 660,622 | 663,492 |
Term Loan C, Dated October 18, 2013 [Member] | Loans Payable [Member] | ' | ' |
Long-term debt | ' | ' |
Total debt | $148,550 | $154,265 |
LongTerm_Debt_LongTerm_Debt_Pa
Long-Term Debt Long-Term Debt (Parenthetical) (Details) (Loans Payable [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Term Loan B, dated October 18, 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt Instrument, Unamortized Discount | $6,028 | $6,508 |
Term Loan C, Dated October 18, 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt Instrument, Unamortized Discount | $638 | $735 |
LongTerm_Debt_Details_1
Long-Term Debt (Details 1) | Jun. 30, 2014 |
Eurodollar Rate [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 1.00% |
Revolver, Dated October 18, 2013 [Member] | Eurodollar Rate [Member] | Leverage Ratio Range greater than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 4.50% |
Revolver, Dated October 18, 2013 [Member] | Eurodollar Rate [Member] | Leverage Ratio Range less than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 4.25% |
Revolver, Dated October 18, 2013 [Member] | Base Rate [Member] | Leverage Ratio Range greater than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 3.50% |
Revolver, Dated October 18, 2013 [Member] | Base Rate [Member] | Leverage Ratio Range less than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 3.25% |
Term Loan B, dated October 18, 2013 [Member] | Eurodollar Rate [Member] | Leverage Ratio Range greater than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 5.25% |
Term Loan B, dated October 18, 2013 [Member] | Eurodollar Rate [Member] | Leverage Ratio Range less than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 5.25% |
Term Loan B, dated October 18, 2013 [Member] | Base Rate [Member] | Leverage Ratio Range greater than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 4.25% |
Term Loan B, dated October 18, 2013 [Member] | Base Rate [Member] | Leverage Ratio Range less than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 4.25% |
Term Loan C, Dated October 18, 2013 [Member] | Eurodollar Rate [Member] | Leverage Ratio Range greater than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 4.50% |
Term Loan C, Dated October 18, 2013 [Member] | Eurodollar Rate [Member] | Leverage Ratio Range less than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 4.50% |
Term Loan C, Dated October 18, 2013 [Member] | Base Rate [Member] | Leverage Ratio Range greater than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 3.50% |
Term Loan C, Dated October 18, 2013 [Member] | Base Rate [Member] | Leverage Ratio Range less than 4.0:1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Effective interest rate | 3.50% |
LongTerm_Debt_Details_2
Long-Term Debt (Details 2) (Scenario, Forecast [Member]) | 9 Months Ended | 12 Months Ended | 15 Months Ended | ||
Dec. 31, 2017 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2019 | Mar. 31, 2015 | |
Scenario, Forecast [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Maximum leverage ratio permitted for future period | 6 | 6.25 | 6.5 | 5.75 | 6.75 |
LongTerm_Debt_Details_3
Long-Term Debt (Details 3) | 6 Months Ended |
Jun. 30, 2014 | |
Senior Notes at redemption prices set forth below plus accrued and unpaid interest and Additional Interest | ' |
2014 | 105.75% |
2015 | 102.88% |
2016 and thereafter | 100.00% |
LongTerm_Debt_Details_Textual
Long-Term Debt (Details Textual) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Outstanding letter of credit | $53,200,000 | $52,000,000 |
Weighted average cash interest rate on outstanding borrowings | 7.80% | 8.20% |
Excess cash flow with two step downs based on company leverage ratio | 75.00% | ' |
Consolidated leverage ratio | 5.9 | ' |
Pledge of capital stock to lenders percentage | 100.00% | ' |
Revolving Credit Facility [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Line of credit facility, maximum borrowing capacity | 100,000,000 | ' |
Unused and available borrowing capacity under the Credit Agreement | 19,800,000 | ' |
Federal Funds [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Effective interest rate | 0.50% | ' |
Eurodollar Rate [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Effective interest rate | 1.00% | ' |
Eurodollar Rate [Member] | Minimum [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Effective interest rate | 1.25% | ' |
Base Rate [Member] | Minimum [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Effective interest rate | 2.25% | ' |
Loans Payable [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Maturity, repayments of principal for 12 months ending June 30, 2015 | 49,200,000 | ' |
Maturity, repayments of principal for 12 months ending June 30, 2016 | 28,000,000 | ' |
Maturity, repayments of principal for 12 months ending June 30, 2017 | 33,800,000 | ' |
Maturity, repayments of principal for 12 months ending June 30, 2018 | 53,200,000 | ' |
Maturity, repayments of principal for 12 months ending June 30, 2019 | 45,500,000 | ' |
Maturity, repayments of principal thereafter | 633,100,000 | ' |
Senior Subordinated Notes [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Senior notes, noncurrent | 325,000,000 | 325,000,000 |
Effective interest rate | 11.50% | ' |
Maturity, repayments of principal for 12 months ending June 30, 2019 | 325,000,000 | ' |
Debt instrument redemption price terms | 'Gentiva may redeem the Senior Notes, in whole or in part, at any time prior to the first interest payment of 2014, at a price equal to 100 percent of the principal amount of the Senior Notes redeemed plus an applicable make-whole premium based on the present value of the remaining payments discounted at the treasury rate plus 50 basis points plus accrued and unpaid interest, if any, to the date of redemption. | ' |
Term Loan B, dated October 18, 2013 [Member] | Loans Payable [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Debt instrument, face amount | 670,000,000 | ' |
Effective interest rate | 6.50% | ' |
Annual principal payment | 6,700,000 | ' |
Term Loan C, Dated October 18, 2013 [Member] | Loans Payable [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Debt instrument, face amount | 155,000,000 | ' |
Effective interest rate | 5.75% | ' |
Annual principal payment | 11,600,000 | ' |
Revolver, Dated October 18, 2013 [Member] | Letter of Credit [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Line of credit facility, maximum borrowing capacity | 80,000,000 | ' |
Revolver, Dated October 18, 2013 [Member] | Revolving Credit Facility [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Line of credit facility, maximum borrowing capacity | 100,000,000 | ' |
Effective interest rate | 4.76% | ' |
Line of Credit Facility, Expiration Date | 18-Oct-18 | ' |
Line of Credit Facility, unused commitment fee percentage | 0.50% | ' |
Revolver, Dated October 18, 2013 [Member] | Same-Day Borrowing [Member] | ' | ' |
Long-Term Debt (Textual) [Abstract] | ' | ' |
Line of credit facility, maximum borrowing capacity | $15,000,000 | ' |
Equity_Details
Equity (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Comprehensive (loss) income: | ' | ' | ' | ' |
Beginning Balance | ' | ' | ($300,194) | $234,700 |
Comprehensive Income | ' | ' | ' | ' |
Net income (loss) | 9,999 | 6,563 | 10,497 | -200,493 |
Total comprehensive income (loss) | 9,999 | 6,563 | 10,497 | -200,493 |
Income tax benefits associated with the exercise of non-qualified stock options | ' | ' | -2,231 | -340 |
Equity-based compensation expense | ' | ' | 4,387 | 3,969 |
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors | ' | ' | 1,276 | 1,849 |
Minority interest capital contribution | ' | ' | 1,160 | ' |
Distribution to partnership interests | ' | ' | -231 | -356 |
Treasury shares: | ' | ' | ' | ' |
Treasury Stock, Value, Acquired, Cost Method | ' | ' | -392 | -275 |
Ending Balance | -285,728 | 39,054 | -285,728 | 39,054 |
Common Stock [Member] | ' | ' | ' | ' |
Comprehensive (loss) income: | ' | ' | ' | ' |
Shares, Beginning Balance | ' | ' | 37,713,302 | 32,009,286 |
Beginning Balance | ' | ' | 3,771 | 3,201 |
Comprehensive Income | ' | ' | ' | ' |
Net income (loss) | ' | ' | 0 | 0 |
Total comprehensive income (loss) | ' | ' | 0 | 0 |
Income tax benefits associated with the exercise of non-qualified stock options | ' | ' | 0 | 0 |
Equity-based compensation expense | ' | ' | 0 | 0 |
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors, Shares | ' | ' | 502,980 | 566,478 |
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors | ' | ' | 51 | 56 |
Minority interest capital contribution | ' | ' | 0 | ' |
Distribution to partnership interests | ' | ' | 0 | 0 |
Treasury shares: | ' | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | ' | 0 | 25,801 |
Treasury Stock, Value, Acquired, Cost Method | ' | ' | 0 | 3 |
Shares, Ending Balance | 38,216,282 | 32,601,565 | 38,216,282 | 32,601,565 |
Ending Balance | 3,822 | 3,260 | 3,822 | 3,260 |
Additional Paid-in Capital [Member] | ' | ' | ' | ' |
Comprehensive (loss) income: | ' | ' | ' | ' |
Beginning Balance | ' | ' | 462,262 | 399,148 |
Comprehensive Income | ' | ' | ' | ' |
Net income (loss) | ' | ' | 0 | 0 |
Total comprehensive income (loss) | ' | ' | 0 | 0 |
Income tax benefits associated with the exercise of non-qualified stock options | ' | ' | -2,231 | -340 |
Equity-based compensation expense | ' | ' | 4,387 | 3,969 |
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors | ' | ' | 1,225 | 1,793 |
Minority interest capital contribution | ' | ' | 0 | ' |
Distribution to partnership interests | ' | ' | 0 | 0 |
Treasury shares: | ' | ' | ' | ' |
Treasury Stock, Value, Acquired, Cost Method | ' | ' | 0 | 0 |
Ending Balance | 465,643 | 404,570 | 465,643 | 404,570 |
Retained Earnings / Accumulated (deficit) [Member] | ' | ' | ' | ' |
Comprehensive (loss) income: | ' | ' | ' | ' |
Beginning Balance | ' | ' | -750,329 | -151,335 |
Comprehensive Income | ' | ' | ' | ' |
Net income (loss) | ' | ' | 10,325 | -200,830 |
Total comprehensive income (loss) | ' | ' | 10,325 | -200,830 |
Income tax benefits associated with the exercise of non-qualified stock options | ' | ' | 0 | 0 |
Equity-based compensation expense | ' | ' | 0 | 0 |
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors | ' | ' | 0 | 0 |
Minority interest capital contribution | ' | ' | 0 | ' |
Distribution to partnership interests | ' | ' | 0 | 0 |
Treasury shares: | ' | ' | ' | ' |
Treasury Stock, Value, Acquired, Cost Method | ' | ' | 0 | 0 |
Ending Balance | -740,004 | -352,165 | -740,004 | -352,165 |
Treasury Stock [Member] | ' | ' | ' | ' |
Comprehensive (loss) income: | ' | ' | ' | ' |
Beginning Balance | ' | ' | -18,773 | -17,852 |
Comprehensive Income | ' | ' | ' | ' |
Net income (loss) | ' | ' | 0 | 0 |
Total comprehensive income (loss) | ' | ' | 0 | 0 |
Income tax benefits associated with the exercise of non-qualified stock options | ' | ' | 0 | 0 |
Equity-based compensation expense | ' | ' | 0 | 0 |
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors | ' | ' | 0 | 0 |
Minority interest capital contribution | ' | ' | 0 | ' |
Distribution to partnership interests | ' | ' | 0 | 0 |
Treasury shares: | ' | ' | ' | ' |
Treasury Stock, Value, Acquired, Cost Method | ' | ' | -392 | -278 |
Ending Balance | -19,165 | -18,130 | -19,165 | -18,130 |
Noncontrolling Interests [Member] | ' | ' | ' | ' |
Comprehensive (loss) income: | ' | ' | ' | ' |
Beginning Balance | ' | ' | 2,875 | 1,538 |
Comprehensive Income | ' | ' | ' | ' |
Net income (loss) | ' | ' | 172 | 337 |
Total comprehensive income (loss) | ' | ' | 172 | 337 |
Income tax benefits associated with the exercise of non-qualified stock options | ' | ' | 0 | 0 |
Equity-based compensation expense | ' | ' | 0 | 0 |
Net issuance of stock upon exercise of stock options and under stock plans for employees and directors | ' | ' | 0 | 0 |
Minority interest capital contribution | ' | ' | 1,160 | ' |
Distribution to partnership interests | ' | ' | -231 | -356 |
Treasury shares: | ' | ' | ' | ' |
Treasury Stock, Value, Acquired, Cost Method | ' | ' | 0 | 0 |
Ending Balance | $3,976 | $1,519 | $3,976 | $1,519 |
Equity_Equity_Parenthetical_De
Equity Equity (Parenthetical) (Details) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Stockholders' Equity Note [Abstract] | ' | ' |
Stock withheld for payroll tax withholdings related to equity-based compensation, shares | 32,662 | 25,801 |
Equity_Details_Textual
Equity (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Mar. 13, 2012 | |
2012 Repurchase Program [Member] | 2012 Repurchase Program [Member] | |||||
Equity (Textual) [Abstract] | ' | ' | ' | ' | ' | ' |
Repurchase Limitations | ' | ' | ' | ' | ' | 5,000,000 |
Remaining authorization to repurchase common stock under | ' | ' | ' | ' | $1,500,000 | ' |
Equity (Additional Textual) [Abstract] | ' | ' | ' | ' | ' | ' |
Comprehensive income (loss) | 9,999,000 | 6,563,000 | 10,497,000 | -200,493,000 | ' | ' |
Senior note governing repurchases of the Company's common stock limitations per year | 7,500,000 | ' | 7,500,000 | ' | ' | ' |
Limitations per year for leverage ratio less than or equal to 3.5:1.0 | $25,000,000 | ' | $25,000,000 | ' | ' | ' |
Consolidated leverage ratio | ' | ' | 'less than or equal to 3.5:1 | ' | ' | ' |
EquityBased_Compensation_Plans2
Equity-Based Compensation Plans (Details) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Weighted-average fair values of the Company's stock options granted | ' | ' |
Weighted average fair value of options granted | $5.08 | $10.73 |
Contractual life | '7 years | '7 years |
Expected dividend yield | 0.00% | 0.00% |
Minimum [Member] | ' | ' |
Weighted-average fair values of the Company's stock options granted | ' | ' |
Risk-free interest rate | 0.46% | 0.29% |
Expected volatility | 60.00% | 66.00% |
Expected life | ' | '3 years 4 months 24 days |
Maximum [Member] | ' | ' |
Weighted-average fair values of the Company's stock options granted | ' | ' |
Risk-free interest rate | 0.51% | 0.60% |
Expected volatility | 63.00% | 77.00% |
Expected life | '5 years 4 months 12 days | '6 years 0 months 0 days |
EquityBased_Compensation_Plans3
Equity-Based Compensation Plans (Details 1) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Summary of stock option activity | ' |
Number of options, Beginning balance | 4,005,589 |
Weighted Average Exercise Price, Beginning balance | $15.40 |
Number of Options, Granted | 737,500 |
Weighted Average Exercise Price, Granted | $10.90 |
Number of Options, Exercised | -14,001 |
Weighted Average Exercise Price, Exercised | $5.90 |
Number of Options, Cancelled | -701,974 |
Weighted Average Exercise Price, Cancelled | $19.54 |
Number of options, Ending balance | 4,027,114 |
Weighted Average Exercise Price, Ending balance | $13.89 |
Weighted Average Remaining Contractual Life-Years | '4 years 7 months 16 days |
Aggregate intrinsic value, Ending balance | $16,389,635 |
Number of Options, Exercisable options | 2,434,902 |
Weighted Average Exercise Price, Exercisable options | $16.73 |
Weighted Average Remaining Contractual Term, Exercisable options | '3 years 10 months 10 days |
Aggregate Intrinsic Value, Exercisable options | 7,625,105 |
Number of Options, Expected to vest | 1,516,839 |
Weighted Average Exercise Price, Expected to vest options | $9.49 |
Weighted Average Remaining Contractual Term, Expected to vest options | '5 years 9 months 10 days |
Aggregate Intrinsic Value, Expected to vest | $8,441,952 |
EquityBased_Compensation_Plans4
Equity-Based Compensation Plans (Details 2) (USD $) | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2014 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
Performance Cash Award 2012 [Member] | Performance Cash Award 2012 [Member] | Performance Cash Award 2012 [Member] | Performance Cash Award 2012 [Member] | Performance Cash Award 2013 [Member] | Performance Cash Award 2013 [Member] | Performance Cash Award 2013 [Member] | Performance Cash Award 2013 [Member] | Performance Cash Award 2014 [Member] | Performance Cash Award 2014 [Member] | Performance Cash Award 2014 [Member] | |
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Requisite Service Period | ' | '3 years | ' | ' | ' | '3 years | ' | ' | '3 years | ' | ' |
Share Based Compensation Arrangement by Share Based Payment Award Equity Instrument Other Than Option Stock Issuance Percentage Multiplier | ' | ' | 0.00% | 200.00% | ' | ' | 0.00% | 240.00% | ' | 0.00% | 240.00% |
Percent allocated to performance year one | 50.00% | ' | ' | ' | 30.00% | ' | ' | ' | 0.00% | ' | ' |
Percent allocated to performance year two | 0.00% | ' | ' | ' | 0.00% | ' | ' | ' | 0.00% | ' | ' |
Percent allocated to performance year three | 50.00% | ' | ' | ' | 70.00% | ' | ' | ' | 100.00% | ' | ' |
Performance percent target achieved year one | ' | 85.00% | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' |
Performance Cash Earned: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance Long-term incentives, Settled in Cash, Earned | $1,804,656 | ' | ' | ' | $0 | ' | ' | ' | $0 | ' | ' |
Long Term Incentives, Settled in Cash Earned - Cancelled | -28,688 | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' |
Ending Balance Long-term incentives, Settled in Cash, Earned | 1,775,968 | ' | ' | ' | 0 | 0 | ' | ' | 0 | ' | ' |
Performance cash Unearned: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance Long-term incentives, Settled in Cash, Unearned | 2,123,125 | ' | ' | ' | 4,638,750 | ' | ' | ' | 0 | ' | ' |
Long Term Incentive, Settled in Cash Granted | 0 | ' | ' | ' | 0 | ' | ' | ' | 5,795,250 | ' | ' |
Long Term Incentives, Settled in Cash Performance target not achieved | 0 | ' | ' | ' | -1,076,250 | ' | ' | ' | 0 | ' | ' |
Long-Term Incentive Award, Settled in Cash Unearned Cancelled | -33,750 | ' | ' | ' | 0 | ' | ' | ' | -60,000 | ' | ' |
Ending Balance Long-term incentives, Settled in Cash, Unearned | $2,089,375 | ' | ' | ' | $3,562,500 | $4,638,750 | ' | ' | $5,735,250 | ' | ' |
EquityBased_Compensation_Plans5
Equity-Based Compensation Plans Equity-Based Compensation Plans (Details 3) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Summary of restricted Stock activity | ' |
Nonvested shares, Expected to vest | 1,516,839 |
Weighted Average Exercise Price, Nonvested shares Expected to vest | $9.49 |
Aggregate Intrinsic Value, Nonvested shares Expected to vest | $8,441,952 |
Restricted Stock [Member] | ' |
Summary of restricted Stock activity | ' |
Number of Shares, Beginning Balance | 635,400 |
Weighted Average Exercise Price, Beginning Balance | $18.27 |
Number of Restricted Shares, Granted | 366,000 |
Weighted Average Exercise Price, Granted | $10.79 |
Number of Restricted Shares, Exercised | -88,900 |
Weighted Average Exercise Price, Exercised | $26.58 |
Number of Restricted Shares, Cancelled | -10,300 |
Weighted Average Exercise Price, Cancelled | $11.37 |
Number of Share Units, Ending Balance | 902,200 |
Weighted Average Exercise Price, Ending Balance | $14.53 |
Aggregate Intrinsic Value, Ending Balance | 13,587,132 |
Nonvested shares, Expected to vest | 834,741 |
Weighted Average Exercise Price, Nonvested shares Expected to vest | $14.78 |
Aggregate Intrinsic Value, Nonvested shares Expected to vest | $12,571,196 |
EquityBased_Compensation_Plans6
Equity-Based Compensation Plans (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Equity-based compensation expense | ' | ' | $4,387,000 | $3,969,000 |
Number of Options, Granted | ' | ' | 737,500 | ' |
Weighted average fair value of options granted | ' | ' | $5.08 | $10.73 |
Expected dividend yield | ' | ' | 0.00% | 0.00% |
Contractual Life | ' | ' | '3 years 10 months 10 days | ' |
Stock option grants in 2011 through 2014 [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Stock option vesting rights | ' | ' | 'three-year period | ' |
Stock option grants 2010 [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Stock option vesting rights | ' | ' | 'four-year period | ' |
Employee Stock Option Market vesting feature [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Number of Options, Granted | ' | ' | 375,000 | ' |
Expected volatility | ' | ' | 63.00% | ' |
Risk-free interest rate | ' | ' | 1.32% | ' |
Expected dividend yield | ' | ' | 0.00% | ' |
Contractual Life | ' | ' | '7 years | ' |
Employee Stock Option [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Intrinsic value of options | ' | ' | 100,000 | 400,000 |
Unrecognized compensation expense | 5,200,000 | 5,200,000 | 5,200,000 | 5,200,000 |
Compensation expense recognized over a weighted-average period | ' | ' | '1 year 6 months 6 days | ' |
Fair Value of Vested Options | ' | ' | 2,400,000 | ' |
Performance Shares [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Requisite Service Period | ' | ' | '3 years | ' |
Performance Cash Award [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Compensation expense recognized over a weighted-average period | ' | ' | '2 years 0 months 22 days | ' |
Share-based Compensation Arrangement by Award Type, Performance Cash Award, Expense | 1,000,000 | 200,000 | 2,000,000 | 900,000 |
Unrecognized compensation cost total | 6,300,000 | ' | 6,300,000 | ' |
Restricted Stock Units R S U [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Number of shares of common stock available for issuance | 650,000 | ' | 650,000 | ' |
Deferred Compensation Arrangement with Individual, Common Stock Reserved for Future Issuance | 171,823 | ' | 171,823 | ' |
Stock & Deferred Compensation Plan for Non-Employee, Granted | ' | ' | 35,014 | 34,224 |
Weighted-average fair value | ' | ' | $11.99 | $10.52 |
Share units outstanding under the plan | 367,790 | ' | 367,790 | ' |
Restricted Stock [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Compensation expense recognized over a weighted-average period | ' | ' | '2 years 0 months 24 days | '2 years 5 months |
Unrecognized compensation cost total | 7,100,000 | 6,600,000 | 7,100,000 | 6,600,000 |
Intrinsic Value of restricted stock awards | 13,587,132 | ' | 13,587,132 | ' |
Employee Stock [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Offering Period of Employee Stock Purchase Plan | ' | ' | '3 months | ' |
ESPP under which the offering purchase price of shares | ' | ' | 85.00% | ' |
Company issued common stock under its ESPP | ' | ' | 15.00% | ' |
Stock issued under ESPP | ' | ' | 126,535 | 156,535 |
Minimum [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Expected volatility | ' | ' | 60.00% | 66.00% |
Risk-free interest rate | ' | ' | 0.46% | 0.29% |
Minimum [Member] | Employee Stock Option Market vesting feature [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Weighted average fair value of options granted | ' | ' | $5.15 | ' |
Minimum [Member] | Restricted Stock [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Requisite Service Period | ' | ' | '3 years | ' |
Maximum [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Expected volatility | ' | ' | 63.00% | 77.00% |
Risk-free interest rate | ' | ' | 0.51% | 0.60% |
Maximum [Member] | Employee Stock Option Market vesting feature [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Weighted average fair value of options granted | ' | ' | $5.88 | ' |
Maximum [Member] | Restricted Stock [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Stock option vesting Period | ' | ' | '5 years | ' |
Selling, General and Administrative Expenses [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Equity-based compensation expense | $2,200,000 | $2,200,000 | $4,400,000 | $4,000,000 |
Market Vesting Feature Stock Price Threshold 1 [Member] | Employee Stock Option Market vesting feature [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Share-based compensation arrangement by award type, market condition target | ' | ' | $14 | ' |
Market Vesting Feature Stock Price Threshold 2 [Member] | Employee Stock Option Market vesting feature [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Share-based compensation arrangement by award type, market condition target | ' | ' | $16 | ' |
Market Vesting Feature Stock Price Threshold 3 [Member] | Employee Stock Option Market vesting feature [Member] | ' | ' | ' | ' |
Equity-Based Compensation Plans (Textual) [Abstract] | ' | ' | ' | ' |
Share-based compensation arrangement by award type, market condition target | ' | ' | $18 | ' |
Legal_Matters_Legal_Matters_De
Legal Matters Legal Matters (Details Textual) (USD $) | 0 Months Ended | 6 Months Ended | 12 Months Ended | 36 Months Ended | 3 Months Ended | 0 Months Ended | ||
In Millions, unless otherwise specified | Jun. 17, 2014 | 10-May-10 | Jun. 30, 2014 | Oct. 25, 2011 | Dec. 31, 2006 | Sep. 30, 2013 | Jun. 19, 2014 | Jun. 09, 2014 |
Plaintiffs | Plaintiffs | Plaintiffs | PRRB Appeal [Member] | Patient Medical Records [Member] | Patient Medical Records [Member] | |||
Home Health [Member] | ||||||||
Legal Matters [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Patient service revenue adjustments | ' | ' | ' | ' | ' | $4 | ' | ' |
Request for information | ' | ' | ' | ' | ' | ' | '14 | '17 |
Legal Matters (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Number of plaintiffs | 194 | 5 | ' | ' | ' | ' | ' | ' |
Number of opt in plaintiffs | ' | 999 | ' | ' | ' | ' | ' | ' |
Settlement of damages claims | ' | ' | 5 | ' | ' | ' | ' | ' |
Shareholder class actions filed against company | ' | ' | ' | 5 | ' | ' | ' | ' |
Legal Matters Aggregate Adjustment To Allowable Costs | ' | ' | ' | ' | $15.90 | ' | ' | ' |
Income_Taxes_Income_Taxes_Deta
Income Taxes Income Taxes (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Income tax (expense) benefit | ($6,899,000) | ($4,829,000) | ($7,320,000) | $587,000 | ' |
Income Taxes Receivable | $14,700,000 | ' | $14,700,000 | ' | $21,200,000 |
Income_Taxes_Rate_Reconciliati
Income Taxes (Rate Reconciliation) (Details Textual) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ' | ' |
Effective federal tax rate | 35.00% | 35.00% |
Impairment of goodwill and other long-lived assets | ' | -34.50% |
State income taxes, net of federal benefit | 3.60% | ' |
Other items | 2.50% | -0.20% |
Company's effective rate | -41.10% | -0.30% |
Business_Segment_Information_D
Business Segment Information (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | $498,040 | $414,424 | $985,545 | $830,015 |
Medicare [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 379,900 | 360,500 | 751,900 | 720,900 |
Medicaid and Local Government [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 70,700 | 18,700 | 141,800 | 36,900 |
Commercial Insurance and Other [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 47,400 | 35,200 | 91,800 | 72,200 |
Commercial Insurance and Other [Member] | Paid at Episodic Rates [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 17,800 | 14,000 | 33,400 | 28,200 |
Commercial Insurance and Other [Member] | Other [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 29,600 | 21,200 | 58,400 | 44,000 |
Home Health [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 269,000 | 235,200 | 525,000 | 471,300 |
Home Health [Member] | Medicare [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 218,400 | 192,700 | 427,200 | 385,900 |
Home Health [Member] | Medicaid and Local Government [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 8,600 | 11,200 | 17,100 | 22,400 |
Home Health [Member] | Commercial Insurance and Other [Member] | Paid at Episodic Rates [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 17,800 | 14,000 | 33,400 | 28,200 |
Home Health [Member] | Commercial Insurance and Other [Member] | Other [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 24,200 | 17,300 | 47,300 | 34,800 |
Hospice [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 172,300 | 179,200 | 346,700 | 358,700 |
Hospice [Member] | Medicare [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 161,500 | 167,800 | 324,700 | 335,000 |
Hospice [Member] | Medicaid and Local Government [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 6,300 | 7,500 | 12,500 | 14,500 |
Hospice [Member] | Commercial Insurance and Other [Member] | Paid at Episodic Rates [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 0 | 0 | 0 | 0 |
Hospice [Member] | Commercial Insurance and Other [Member] | Other [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 4,500 | 3,900 | 9,500 | 9,200 |
Community Care [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 56,700 | ' | 113,800 | ' |
Community Care [Member] | Medicare [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 0 | ' | 0 | ' |
Community Care [Member] | Medicaid and Local Government [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 55,800 | ' | 112,200 | ' |
Community Care [Member] | Commercial Insurance and Other [Member] | Paid at Episodic Rates [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | 0 | ' | 0 | ' |
Community Care [Member] | Commercial Insurance and Other [Member] | Other [Member] | ' | ' | ' | ' |
Segment net revenues by major payer source | ' | ' | ' | ' |
Total net revenues | $900 | ' | $1,600 | ' |
Business_Segment_Information_D1
Business Segment Information (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | |||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | ||||
Segment information about the Company's operations | ' | ' | ' | ' | ' | ||||
Total net revenues | $498,040 | $414,424 | $985,545 | $830,015 | ' | ||||
Operating contribution | 71,621 | 56,354 | 128,047 | 113,963 | ' | ||||
Goodwill and other long-lived asset impairment | 0 | 0 | 0 | -224,320 | [1] | ' | |||
Depreciation and amortization | -6,368 | -4,730 | -12,815 | -9,511 | ' | ||||
Interest expense and other, net | -24,689 | -22,148 | -49,187 | -44,441 | ' | ||||
Income (loss) before income taxes | 16,898 | 11,392 | 17,817 | -201,080 | ' | ||||
Assets | 1,250,551 | 1,256,224 | 1,250,551 | 1,256,224 | 1,262,617 | ||||
Home Health [Member] | ' | ' | ' | ' | ' | ||||
Segment information about the Company's operations | ' | ' | ' | ' | ' | ||||
Total net revenues | 269,068 | 235,216 | 525,044 | 471,277 | ' | ||||
Operating contribution | 41,027 | 29,917 | 70,630 | [2] | 60,105 | ' | |||
Assets | 396,674 | 247,164 | 396,674 | 247,164 | ' | ||||
Hospice [Member] | ' | ' | ' | ' | ' | ||||
Segment information about the Company's operations | ' | ' | ' | ' | ' | ||||
Total net revenues | 172,322 | 179,208 | 346,724 | 358,738 | ' | ||||
Operating contribution | 22,087 | [2] | 26,437 | [2] | 39,631 | [2] | 53,858 | [2] | ' |
Assets | 357,206 | 632,773 | [1] | 357,206 | 632,773 | [1] | ' | ||
Community Care [Member] | ' | ' | ' | ' | ' | ||||
Segment information about the Company's operations | ' | ' | ' | ' | ' | ||||
Total net revenues | 56,650 | 0 | 113,777 | 0 | ' | ||||
Operating contribution | 8,507 | [2] | 0 | 17,786 | [2] | 0 | ' | ||
Assets | 170,111 | 0 | 170,111 | 0 | ' | ||||
Home Health, Hospice and Community Care [Member] | ' | ' | ' | ' | ' | ||||
Segment information about the Company's operations | ' | ' | ' | ' | ' | ||||
Assets | 923,991 | 879,937 | 923,991 | 879,937 | ' | ||||
Corporate [Member] | ' | ' | ' | ' | ' | ||||
Segment information about the Company's operations | ' | ' | ' | ' | ' | ||||
Corporate expenses | -23,666 | [2] | -18,084 | [2] | -48,228 | [2] | -36,771 | [2] | ' |
Assets | $326,560 | $376,287 | [1] | $326,560 | $376,287 | [1] | ' | ||
[1] | (2)At March 31, 2013, the Company performed an interim impairment test of its Hospice reporting unit. Based on the results of the interim impairment test, the Company recorded a non-cash impairment charge relating to goodwill of approximately $220.8 million. As part of that analysis, the Company reviewed the valuation of its owned real estate utilized in the Hospice business. The analysis indicated that two of the Company's hospice inpatient units had estimated fair values lower than their carrying values and, as such, the Company recorded a non-cash impairment charge of approximately $1.9 million. See Note 9.In addition, the Company conducted an evaluation of the various systems used to support its field operations. In connection with that review, the Company made a strategic decision to replace its business intelligence software platform and, as such, recorded a non-cash impairment charge, related to developed software, of approximately $1.6 million.Hospice and corporate assets were reduced by $220.8 million and $3.5 million, respectively, as a result of the impairment. | ||||||||
[2] | (1)For the second quarter and first six months of 2014, the Company recorded charges relating to cost savings initiatives and acquisition and integration activities of $4.7 million and $10.0 million, respectively. For the second quarter and first six months of 2013, the Company recorded charges relating to cost savings initiatives and acquisition and integration activities of $0.8 million and $0.9 million, respectively.The charges were reflected as follows for segment reporting purposes (in millions): Second QuarterB First Six MonthsB 2014B 2013B 2014B 2013Home Health$bB $bB $0.6B $bHospice2.5B 0.7B 5.4B 0.7Community Care0.1B bB 0.1B bCorporate expenses2.1B 0.1B 3.9B 0.2Total$4.7B $0.8B $10.0B $0.9 |
Business_Segment_Information_D2
Business Segment Information (Details 2) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Charges reflecting for segment reporting purposes | ' | ' | ' | ' |
Restructuring and Acquisition and Integration Provisions | $4.70 | $0.80 | $10 | $0.90 |
Home Health [Member] | ' | ' | ' | ' |
Charges reflecting for segment reporting purposes | ' | ' | ' | ' |
Restructuring and Acquisition and Integration Provisions | 0 | 0 | 0.6 | 0 |
Hospice [Member] | ' | ' | ' | ' |
Charges reflecting for segment reporting purposes | ' | ' | ' | ' |
Restructuring and Acquisition and Integration Provisions | 2.5 | 0.7 | 5.4 | 0.7 |
Community Care [Member] | ' | ' | ' | ' |
Charges reflecting for segment reporting purposes | ' | ' | ' | ' |
Restructuring and Acquisition and Integration Provisions | 0.1 | 0 | 0.1 | 0 |
Corporate expenses [Member] | ' | ' | ' | ' |
Charges reflecting for segment reporting purposes | ' | ' | ' | ' |
Restructuring and Acquisition and Integration Provisions | $2.10 | $0.10 | $3.90 | $0.20 |
Business_Segment_Information_D3
Business Segment Information (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | ||||||||||
Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | |
Home Health [Member] | Hospice [Member] | Hospice [Member] | Hospice [Member] | Hospice [Member] | Hospice [Member] | Community Care [Member] | Corporate expenses [Member] | Land and Building [Member] | Software Development [Member] | |||||||
State | State | State | ||||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of states in certified providers serving | ' | ' | ' | ' | ' | ' | 38 | ' | ' | ' | ' | 30 | 4 | ' | ' | ' |
Restructuring charges | $4,659,000 | $5,341,000 | $744,000 | $141,000 | $10,000,000 | $900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, impairment loss | ' | ' | ' | ' | ' | ' | ' | 379,800,000 | 220,800,000 | 220,800,000 | 600,600,000 | ' | ' | ' | ' | ' |
Asset impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,500,000 | $1,900,000 | $1,600,000 |
Supplemental_Guarantor_and_Non2
Supplemental Guarantor and Non-Guarantor Financial Information (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $106,155 | $86,957 | $185,122 | $207,052 |
Receivables, net | 280,731 | 289,905 | ' | ' |
Deferred tax assets, net | 24,287 | 28,153 | ' | ' |
Prepaid expenses and other current assets | 54,773 | 64,746 | ' | ' |
Total current assets | 465,946 | 469,761 | ' | ' |
Note receivable from CareCentrix | 28,471 | 28,471 | ' | ' |
Fixed assets, net | 44,948 | 49,375 | ' | ' |
Intangible assets, net | 253,178 | 256,282 | ' | ' |
Goodwill | 390,081 | 390,081 | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | ' |
Other assets | 67,927 | 68,647 | ' | ' |
Total assets | 1,250,551 | 1,262,617 | 1,256,224 | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of long-term debt | 49,200 | 45,325 | ' | ' |
Accounts payable | 14,585 | 15,659 | ' | ' |
Other current liabilities | 289,999 | 314,486 | ' | ' |
Total current liabilities | 353,784 | 375,470 | ' | ' |
Long-term debt | 1,111,972 | 1,124,432 | ' | ' |
Deferred tax liabilities, net | 15,701 | 9,825 | ' | ' |
Other liabilities | 54,822 | 53,084 | ' | ' |
Total Gentiva shareholders' deficit | -289,704 | -303,069 | ' | ' |
Noncontrolling interests | 3,976 | 2,875 | ' | ' |
Total deficit | -285,728 | -300,194 | 39,054 | 234,700 |
Total liabilities and shareholders' deficit | 1,250,551 | 1,262,617 | ' | ' |
Gentiva Health Services, Inc. [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 77,132 | 55,076 | 143,406 | 166,140 |
Receivables, net | 0 | 0 | ' | ' |
Deferred tax assets, net | 0 | 0 | ' | ' |
Prepaid expenses and other current assets | 0 | 0 | ' | ' |
Total current assets | 77,132 | 55,076 | ' | ' |
Note receivable from CareCentrix | 0 | 0 | ' | ' |
Fixed assets, net | 0 | 0 | ' | ' |
Intangible assets, net | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Investment in subsidiaries | 776,831 | 791,456 | ' | ' |
Other assets | 25,737 | 28,266 | ' | ' |
Total assets | 879,700 | 874,798 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of long-term debt | 49,200 | 45,325 | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Other current liabilities | 1,937 | 188 | ' | ' |
Total current liabilities | 51,137 | 45,513 | ' | ' |
Long-term debt | 1,111,972 | 1,124,432 | ' | ' |
Deferred tax liabilities, net | 0 | 0 | ' | ' |
Other liabilities | 6,295 | 7,922 | ' | ' |
Total Gentiva shareholders' deficit | -289,704 | -303,069 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total deficit | -289,704 | -303,069 | ' | ' |
Total liabilities and shareholders' deficit | 879,700 | 874,798 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables, net | 272,841 | 284,379 | ' | ' |
Deferred tax assets, net | 21,540 | 25,845 | ' | ' |
Prepaid expenses and other current assets | 39,517 | 50,890 | ' | ' |
Total current assets | 333,898 | 361,114 | ' | ' |
Note receivable from CareCentrix | 28,471 | 28,471 | ' | ' |
Fixed assets, net | 44,426 | 48,824 | ' | ' |
Intangible assets, net | 250,578 | 253,682 | ' | ' |
Goodwill | 381,150 | 384,017 | ' | ' |
Investment in subsidiaries | 29,582 | 28,382 | ' | ' |
Other assets | 42,184 | 40,370 | ' | ' |
Total assets | 1,110,289 | 1,144,860 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Accounts payable | 14,436 | 15,377 | ' | ' |
Other current liabilities | 254,794 | 283,040 | ' | ' |
Total current liabilities | 269,230 | 298,417 | ' | ' |
Long-term debt | 0 | 0 | ' | ' |
Deferred tax liabilities, net | 15,701 | 9,825 | ' | ' |
Other liabilities | 48,527 | 45,162 | ' | ' |
Total Gentiva shareholders' deficit | 776,831 | 791,456 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total deficit | 776,831 | 791,456 | ' | ' |
Total liabilities and shareholders' deficit | 1,110,289 | 1,144,860 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 29,023 | 31,881 | 41,716 | 40,912 |
Receivables, net | 42,317 | 34,136 | ' | ' |
Deferred tax assets, net | 2,747 | 2,308 | ' | ' |
Prepaid expenses and other current assets | 15,256 | 13,856 | ' | ' |
Total current assets | 89,343 | 82,181 | ' | ' |
Note receivable from CareCentrix | 0 | 0 | ' | ' |
Fixed assets, net | 522 | 551 | ' | ' |
Intangible assets, net | 2,600 | 2,600 | ' | ' |
Goodwill | 8,931 | 6,064 | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | ' |
Other assets | 6 | 11 | ' | ' |
Total assets | 101,402 | 91,407 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Accounts payable | 149 | 282 | ' | ' |
Other current liabilities | 67,695 | 59,868 | ' | ' |
Total current liabilities | 67,844 | 60,150 | ' | ' |
Long-term debt | 0 | 0 | ' | ' |
Deferred tax liabilities, net | 0 | 0 | ' | ' |
Other liabilities | 0 | 0 | ' | ' |
Total Gentiva shareholders' deficit | 29,582 | 28,382 | ' | ' |
Noncontrolling interests | 3,976 | 2,875 | ' | ' |
Total deficit | 33,558 | 31,257 | ' | ' |
Total liabilities and shareholders' deficit | 101,402 | 91,407 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables, net | -34,427 | -28,610 | ' | ' |
Deferred tax assets, net | 0 | 0 | ' | ' |
Prepaid expenses and other current assets | 0 | 0 | ' | ' |
Total current assets | -34,427 | -28,610 | ' | ' |
Note receivable from CareCentrix | 0 | 0 | ' | ' |
Fixed assets, net | 0 | 0 | ' | ' |
Intangible assets, net | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Investment in subsidiaries | -806,413 | -819,838 | ' | ' |
Other assets | 0 | 0 | ' | ' |
Total assets | -840,840 | -848,448 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Other current liabilities | -34,427 | -28,610 | ' | ' |
Total current liabilities | -34,427 | -28,610 | ' | ' |
Long-term debt | 0 | 0 | ' | ' |
Deferred tax liabilities, net | 0 | 0 | ' | ' |
Other liabilities | 0 | 0 | ' | ' |
Total Gentiva shareholders' deficit | -806,413 | -819,838 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total deficit | -806,413 | -819,838 | ' | ' |
Total liabilities and shareholders' deficit | ($840,840) | ($848,448) | ' | ' |
Supplemental_Guarantor_and_Non3
Supplemental Guarantor and Non-Guarantor Financial Information (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' | |
Total net revenues | $498,040 | $414,424 | $985,545 | $830,015 | |
Cost of services sold | 267,350 | 218,947 | 540,418 | 440,520 | |
Gross profit | 230,690 | 195,477 | 445,127 | 389,495 | |
Selling, general and administrative expenses | -189,103 | -161,937 | -378,123 | -321,814 | |
Goodwill and other long-lived asset impairment | 0 | 0 | 0 | -224,320 | [1] |
Interest expense and other, net | -24,689 | -22,148 | -49,187 | -44,441 | |
Equity in earnings (loss) of subsidiaries | 0 | 0 | 0 | 0 | |
Income (loss) before income taxes | 16,898 | 11,392 | 17,817 | -201,080 | |
Income tax (expense) benefit | -6,899 | -4,829 | -7,320 | 587 | |
Net income (loss) | 9,999 | 6,563 | 10,497 | -200,493 | |
Less: Net income attributable to noncontrolling interests | 12 | -216 | -172 | -337 | |
Net income (loss) attributable to Gentiva shareholders | 10,011 | 6,347 | 10,325 | -200,830 | |
Comprehensive income (loss) | 9,999 | 6,563 | 10,497 | -200,493 | |
Gentiva Health Services, Inc. [Member] | ' | ' | ' | ' | |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' | |
Total net revenues | 0 | 0 | 0 | 0 | |
Cost of services sold | 0 | 0 | 0 | 0 | |
Gross profit | 0 | 0 | 0 | 0 | |
Selling, general and administrative expenses | 0 | 0 | 0 | 0 | |
Goodwill and other long-lived asset impairment | ' | ' | ' | 0 | |
Interest expense and other, net | -24,742 | -22,163 | -49,291 | -44,473 | |
Equity in earnings (loss) of subsidiaries | 24,777 | 19,113 | 40,047 | -174,013 | |
Income (loss) before income taxes | 35 | -3,050 | -9,244 | -218,486 | |
Income tax (expense) benefit | 9,976 | 9,397 | 19,569 | 17,656 | |
Net income (loss) | 10,011 | 6,347 | 10,325 | -200,830 | |
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | |
Net income (loss) attributable to Gentiva shareholders | 10,011 | 6,347 | 10,325 | -200,830 | |
Comprehensive income (loss) | 10,011 | 6,347 | 10,325 | -200,830 | |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' | |
Total net revenues | 484,431 | 402,068 | 959,126 | 805,213 | |
Cost of services sold | 260,433 | 212,699 | 526,526 | 425,901 | |
Gross profit | 223,998 | 189,369 | 432,600 | 379,312 | |
Selling, general and administrative expenses | -183,542 | -157,232 | -367,431 | -312,482 | |
Goodwill and other long-lived asset impairment | ' | ' | ' | -224,320 | |
Interest expense and other, net | 0 | 0 | 0 | 0 | |
Equity in earnings (loss) of subsidiaries | 773 | 835 | 1,027 | 509 | |
Income (loss) before income taxes | 41,229 | 32,972 | 66,196 | -156,981 | |
Income tax (expense) benefit | -16,452 | -13,859 | -26,149 | -17,032 | |
Net income (loss) | 24,777 | 19,113 | 40,047 | -174,013 | |
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | |
Net income (loss) attributable to Gentiva shareholders | 24,777 | 19,113 | 40,047 | -174,013 | |
Comprehensive income (loss) | 24,777 | 19,113 | 40,047 | -174,013 | |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' | |
Total net revenues | 16,165 | 16,442 | 34,109 | 32,067 | |
Cost of services sold | 9,473 | 10,334 | 21,582 | 21,884 | |
Gross profit | 6,692 | 6,108 | 12,527 | 10,183 | |
Selling, general and administrative expenses | -5,561 | -4,705 | -10,692 | -9,332 | |
Goodwill and other long-lived asset impairment | ' | ' | ' | 0 | |
Interest expense and other, net | 53 | 15 | 104 | 32 | |
Equity in earnings (loss) of subsidiaries | 0 | 0 | 0 | 0 | |
Income (loss) before income taxes | 1,184 | 1,418 | 1,939 | 883 | |
Income tax (expense) benefit | -423 | -367 | -740 | -37 | |
Net income (loss) | 761 | 1,051 | 1,199 | 846 | |
Less: Net income attributable to noncontrolling interests | 12 | -216 | -172 | -337 | |
Net income (loss) attributable to Gentiva shareholders | 773 | 835 | 1,027 | 509 | |
Comprehensive income (loss) | 761 | 1,051 | 1,199 | 846 | |
Eliminations [Member] | ' | ' | ' | ' | |
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ' | ' | |
Total net revenues | -2,556 | -4,086 | -7,690 | -7,265 | |
Cost of services sold | -2,556 | -4,086 | -7,690 | -7,265 | |
Gross profit | 0 | 0 | 0 | 0 | |
Selling, general and administrative expenses | 0 | 0 | 0 | 0 | |
Goodwill and other long-lived asset impairment | ' | ' | ' | 0 | |
Interest expense and other, net | 0 | 0 | 0 | 0 | |
Equity in earnings (loss) of subsidiaries | -25,550 | -19,948 | -41,074 | 173,504 | |
Income (loss) before income taxes | -25,550 | -19,948 | -41,074 | 173,504 | |
Income tax (expense) benefit | 0 | 0 | 0 | 0 | |
Net income (loss) | -25,550 | -19,948 | -41,074 | 173,504 | |
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | |
Net income (loss) attributable to Gentiva shareholders | -25,550 | -19,948 | -41,074 | 173,504 | |
Comprehensive income (loss) | ($25,550) | ($19,948) | ($41,074) | $173,504 | |
[1] | (2)At March 31, 2013, the Company performed an interim impairment test of its Hospice reporting unit. Based on the results of the interim impairment test, the Company recorded a non-cash impairment charge relating to goodwill of approximately $220.8 million. As part of that analysis, the Company reviewed the valuation of its owned real estate utilized in the Hospice business. The analysis indicated that two of the Company's hospice inpatient units had estimated fair values lower than their carrying values and, as such, the Company recorded a non-cash impairment charge of approximately $1.9 million. See Note 9.In addition, the Company conducted an evaluation of the various systems used to support its field operations. In connection with that review, the Company made a strategic decision to replace its business intelligence software platform and, as such, recorded a non-cash impairment charge, related to developed software, of approximately $1.6 million.Hospice and corporate assets were reduced by $220.8 million and $3.5 million, respectively, as a result of the impairment. |
Supplemental_Guarantor_and_Non4
Supplemental Guarantor and Non-Guarantor Financial Information (Details 2) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
OPERATING ACTIVITIES: | ' | ' |
Net cash (used in) provided by operating activities | $32,634 | $10,166 |
INVESTING ACTIVITIES: | ' | ' |
Purchase of fixed assets | -6,032 | -7,521 |
Capital contribution | 0 | ' |
Proceeds from sale of businesses | 0 | 508 |
Acquisition of businesses, net of cash acquired | 0 | ' |
Net cash used in investing activities | -6,032 | -7,013 |
FINANCING ACTIVITIES: | ' | ' |
Proceeds from issuance of common stock | 1,276 | 1,852 |
Windfall tax benefits associated with equity-based compensation | 21 | 82 |
Payment of contingent consideration accrued at acquisition date | 0 | -1,500 |
Repayment of long-term debt | -9,163 | -25,000 |
Minority interest capital contribution | 1,160 | 0 |
Majority interest capital contributions | 0 | ' |
Distribution to minority interests | -231 | -356 |
Distribution to majority interests | 0 | ' |
Other | -467 | -161 |
Net payments related to intercompany financing | 0 | 0 |
Net cash used in financing activities | -7,404 | -25,083 |
Net change in cash and cash equivalents | 19,198 | -21,930 |
Cash and cash equivalents at beginning of period | 86,957 | 207,052 |
Cash and cash equivalents at end of period | 106,155 | 185,122 |
Gentiva Health Services, Inc. [Member] | ' | ' |
OPERATING ACTIVITIES: | ' | ' |
Net cash (used in) provided by operating activities | -22,175 | -16,467 |
INVESTING ACTIVITIES: | ' | ' |
Purchase of fixed assets | 0 | 0 |
Capital contribution | 0 | ' |
Proceeds from sale of businesses | 0 | 0 |
Acquisition of businesses, net of cash acquired | 0 | ' |
Net cash used in investing activities | 0 | 0 |
FINANCING ACTIVITIES: | ' | ' |
Proceeds from issuance of common stock | 1,276 | 1,852 |
Windfall tax benefits associated with equity-based compensation | 21 | 82 |
Payment of contingent consideration accrued at acquisition date | ' | 0 |
Repayment of long-term debt | -9,163 | -25,000 |
Minority interest capital contribution | 0 | ' |
Majority interest capital contributions | 0 | ' |
Distribution to minority interests | 0 | 0 |
Distribution to majority interests | 0 | ' |
Other | -908 | 733 |
Net payments related to intercompany financing | 53,005 | 16,066 |
Net cash used in financing activities | 44,231 | -6,267 |
Net change in cash and cash equivalents | 22,056 | -22,734 |
Cash and cash equivalents at beginning of period | 55,076 | 166,140 |
Cash and cash equivalents at end of period | 77,132 | 143,406 |
Guarantor Subsidiaries [Member] | ' | ' |
OPERATING ACTIVITIES: | ' | ' |
Net cash (used in) provided by operating activities | 57,856 | 24,443 |
INVESTING ACTIVITIES: | ' | ' |
Purchase of fixed assets | -5,980 | -7,357 |
Capital contribution | -1,740 | ' |
Proceeds from sale of businesses | 2,900 | 508 |
Acquisition of businesses, net of cash acquired | 0 | ' |
Net cash used in investing activities | -4,820 | -6,849 |
FINANCING ACTIVITIES: | ' | ' |
Proceeds from issuance of common stock | 0 | 0 |
Windfall tax benefits associated with equity-based compensation | 0 | 0 |
Payment of contingent consideration accrued at acquisition date | ' | -1,500 |
Repayment of long-term debt | 0 | 0 |
Minority interest capital contribution | 0 | ' |
Majority interest capital contributions | 0 | ' |
Distribution to minority interests | 0 | 0 |
Distribution to majority interests | 0 | ' |
Other | -31 | -28 |
Net payments related to intercompany financing | -53,005 | -16,066 |
Net cash used in financing activities | -53,036 | -17,594 |
Net change in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 |
Cash and cash equivalents at end of period | 0 | 0 |
Non-Guarantor Subsidiaries [Member] | ' | ' |
OPERATING ACTIVITIES: | ' | ' |
Net cash (used in) provided by operating activities | -2,404 | 2,190 |
INVESTING ACTIVITIES: | ' | ' |
Purchase of fixed assets | -52 | -164 |
Capital contribution | 0 | ' |
Proceeds from sale of businesses | 0 | 0 |
Acquisition of businesses, net of cash acquired | -2,900 | ' |
Net cash used in investing activities | -2,952 | -164 |
FINANCING ACTIVITIES: | ' | ' |
Proceeds from issuance of common stock | 0 | 0 |
Windfall tax benefits associated with equity-based compensation | 0 | 0 |
Payment of contingent consideration accrued at acquisition date | ' | 0 |
Repayment of long-term debt | 0 | 0 |
Minority interest capital contribution | 1,160 | ' |
Majority interest capital contributions | 1,740 | ' |
Distribution to minority interests | -231 | -356 |
Distribution to majority interests | -643 | ' |
Other | 472 | -866 |
Net payments related to intercompany financing | 0 | 0 |
Net cash used in financing activities | 2,498 | -1,222 |
Net change in cash and cash equivalents | -2,858 | 804 |
Cash and cash equivalents at beginning of period | 31,881 | 40,912 |
Cash and cash equivalents at end of period | 29,023 | 41,716 |
Eliminations [Member] | ' | ' |
OPERATING ACTIVITIES: | ' | ' |
Net cash (used in) provided by operating activities | -643 | 0 |
INVESTING ACTIVITIES: | ' | ' |
Purchase of fixed assets | 0 | 0 |
Capital contribution | 1,740 | ' |
Proceeds from sale of businesses | -2,900 | 0 |
Acquisition of businesses, net of cash acquired | 2,900 | ' |
Net cash used in investing activities | 1,740 | 0 |
FINANCING ACTIVITIES: | ' | ' |
Proceeds from issuance of common stock | 0 | 0 |
Windfall tax benefits associated with equity-based compensation | 0 | 0 |
Payment of contingent consideration accrued at acquisition date | ' | 0 |
Repayment of long-term debt | 0 | 0 |
Minority interest capital contribution | 0 | ' |
Majority interest capital contributions | -1,740 | ' |
Distribution to minority interests | 0 | 0 |
Distribution to majority interests | 643 | ' |
Other | 0 | 0 |
Net payments related to intercompany financing | 0 | 0 |
Net cash used in financing activities | -1,097 | 0 |
Net change in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 |
Cash and cash equivalents at end of period | $0 | $0 |