The Ensign Group, Inc. (ENSG) 10-Q 25 Jul 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 22, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-33757
Entity Registrant Name	ENSIGN GROUP, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-0861263
Entity Address, Address Line One	29222 Rancho Viejo Road, Suite 127
Entity Address, City or Town	San Juan Capistrano
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92675
City Area Code	949
Local Phone Number	487-9500
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	ENSG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		57,113,703
Entity Central Index Key	0001125376
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--12-31

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 477,336	$ 509,626
Accounts receivable—less allowance for doubtful accounts of $9,460 and $9,348 at June 30, 2024 and December 31, 2023, respectively	547,121	485,039
Investments—current	24,126	17,229
Prepaid income taxes	18,798	3,830
Prepaid expenses and other current assets	47,699	31,206
Total current assets	1,115,080	1,046,930
Property and equipment, net	1,177,822	1,090,771
Right-of-use assets	1,842,613	1,756,430
Insurance subsidiary deposits and investments	112,756	92,687
Deferred tax assets	66,572	67,124
Restricted and other assets	38,551	40,205
Intangible assets, net	6,703	6,525
Goodwill	77,241	76,869
TOTAL ASSETS	4,437,338	4,177,541
Current liabilities:
Accounts payable	88,652	92,811
Accrued wages and related liabilities	322,928	332,568
Lease liabilities—current	89,176	82,526
Accrued self-insurance liabilities—current	61,356	54,664
Other accrued liabilities	164,640	168,228
Current maturities of long-term debt	4,017	3,950
Total current liabilities	730,769	734,747
Long-term debt—less current maturities	143,559	145,497
Long-term lease liabilities—less current portion	1,720,250	1,639,326
Accrued self-insurance liabilities—less current portion	123,835	111,246
Other long-term liabilities	55,854	49,408
TOTAL LIABILITIES	2,774,267	2,680,224
Commitments and contingencies (Notes 15 and 20)
Ensign Group, Inc. stockholders' equity:
Common stock: $0.001 par value; 150,000 shares authorized; 60,449 and 57,049 shares issued and shares outstanding at June 30, 2024, respectively, and 59,987 and 56,597 shares issued and shares outstanding at December 31, 2023, respectively	61	60
Additional paid-in capital	499,411	465,707
Retained earnings	1,275,657	1,142,653
Common stock in treasury, at cost, 3,400 and 3,390 shares at June 30, 2024 and December 31, 2023, respectively	(117,764)	(116,555)
Total Ensign Group, Inc. stockholders' equity	1,657,365	1,491,865
Non-controlling interest	5,706	5,452
Total equity	1,663,071	1,497,317
TOTAL LIABILITIES AND EQUITY	$ 4,437,338	$ 4,177,541

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 9,460	$ 9,348
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common shares authorized (in shares)	150,000	150,000
Common shares issued (in shares)	60,449	59,987
Common shares outstanding (in shares)	57,049	56,597
Common shares in treasury, at cost (in shares)	3,400	3,390

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
TOTAL REVENUE	$ 1,036,285	$ 921,345	$ 2,046,457	$ 1,808,186
Expense:
Cost of services	820,360	722,685	1,619,623	1,419,011
Rent—cost of services	53,272	49,760	105,148	96,397
General and administrative expense	56,194	53,430	113,352	105,321
Depreciation and amortization	20,488	17,596	40,145	34,708
TOTAL EXPENSES	950,314	843,471	1,878,268	1,655,437
Income from operations	85,971	77,874	168,189	152,749
Other income (expense):
Interest expense	(2,040)	(2,023)	(4,004)	(4,059)
Interest income	7,084	3,542	13,544	7,526
Other income	1,049	1,660	3,933	3,219
Other income, net	6,093	3,179	13,473	6,686
Income before provision for income taxes	92,064	81,053	181,662	159,435
Provision for income taxes	20,883	16,963	41,521	35,376
NET INCOME	71,181	64,090	140,141	124,059
Less:
Net income attributable to noncontrolling interests	174	97	299	214
Net income attributable to The Ensign Group, Inc.	$ 71,007	$ 63,993	$ 139,842	$ 123,845
NET INCOME PER SHARE ATTRIBUTABLE TO THE ENSIGN GROUP INC.
Basic (in dollars per share)	$ 1.26	$ 1.15	$ 2.48	$ 2.23
Diluted (in dollars per share)	$ 1.22	$ 1.12	$ 2.41	$ 2.17
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	56,544	55,611	56,441	55,456
Diluted (in shares)	58,013	57,260	57,969	57,190
Service revenue
TOTAL REVENUE	$ 1,030,574	$ 916,101	$ 2,035,059	$ 1,798,019
Rental revenue
TOTAL REVENUE	$ 5,711	$ 5,244	$ 11,398	$ 10,167

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Non-Controlling Interest
Common stock, balance at beginning of period (in shares) at Dec. 31, 2022		55,661
Balance at beginning of period at Dec. 31, 2022	$ 1,248,800	$ 59	$ 415,560	$ 946,339	$ (114,626)	$ 1,468
Treasury stock, balance at beginning of period (in shares) at Dec. 31, 2022					3,368
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock to employees and directors resulting from the exercise of stock options (in shares)		145
Issuance of common stock to employees and directors resulting from the exercise of stock options	2,654	$ 1	2,653
Issuance of restricted stock, net of forfeitures (in shares)		102
Issuance of restricted stock, net of forfeitures	5,068		5,068
Shares of common stock used to satisfy tax withholding obligations (in shares)		1			1
Shares of common stock used to satisfy tax withholding obligations	(20)				$ (20)
Dividends declared	(3,215)			(3,215)
Employee stock award compensation	6,573		6,573
Acquisition of noncontrolling interest shares	(77)		(77)
Net income attributable to noncontrolling interest	117					117
Noncontrolling interests attributable to subsidiary equity plan	2		6			(4)
Net income attributable to the Ensign Group, Inc.	59,852			59,852
Common stock, balance at end of period (in shares) at Mar. 31, 2023		55,907
Balance at end of period at Mar. 31, 2023	1,319,754	$ 60	429,783	1,002,976	$ (114,646)	1,581
Treasury stock, balance at end of period (in shares) at Mar. 31, 2023					3,369
Common stock, balance at beginning of period (in shares) at Dec. 31, 2022		55,661
Balance at beginning of period at Dec. 31, 2022	1,248,800	$ 59	415,560	946,339	$ (114,626)	1,468
Treasury stock, balance at beginning of period (in shares) at Dec. 31, 2022					3,368
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interest	214
Net income attributable to the Ensign Group, Inc.	123,845
Common stock, balance at end of period (in shares) at Jun. 30, 2023		56,193
Balance at end of period at Jun. 30, 2023	1,393,393	$ 60	440,532	1,063,738	$ (116,555)	5,618
Treasury stock, balance at end of period (in shares) at Jun. 30, 2023					3,390
Common stock, balance at beginning of period (in shares) at Mar. 31, 2023		55,907
Balance at beginning of period at Mar. 31, 2023	1,319,754	$ 60	429,783	1,002,976	$ (114,646)	1,581
Treasury stock, balance at beginning of period (in shares) at Mar. 31, 2023					3,369
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock to employees and directors resulting from the exercise of stock options (in shares)		253
Issuance of common stock to employees and directors resulting from the exercise of stock options	5,905		5,905
Issuance of restricted stock, net of forfeitures (in shares)		54
Shares of common stock used to satisfy tax withholding obligations (in shares)		21			21
Shares of common stock used to satisfy tax withholding obligations	(1,909)				$ (1,909)
Dividends declared	(3,231)			(3,231)
Employee stock award compensation	8,881		8,881
Acquisition of noncontrolling interest shares	(100)		(100)
Net income attributable to noncontrolling interest	97					97
Noncontrolling interests attributable to subsidiary equity plan	3		(3,937)			3,940
Net income attributable to the Ensign Group, Inc.	63,993			63,993
Common stock, balance at end of period (in shares) at Jun. 30, 2023		56,193
Balance at end of period at Jun. 30, 2023	$ 1,393,393	$ 60	440,532	1,063,738	$ (116,555)	5,618
Treasury stock, balance at end of period (in shares) at Jun. 30, 2023					3,390
Common stock, balance at beginning of period (in shares) at Dec. 31, 2023	56,597	56,597
Balance at beginning of period at Dec. 31, 2023	$ 1,497,317	$ 60	465,707	1,142,653	$ (116,555)	5,452
Treasury stock, balance at beginning of period (in shares) at Dec. 31, 2023	3,390				3,390
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock to employees and directors resulting from the exercise of stock options (in shares)		219
Issuance of common stock to employees and directors resulting from the exercise of stock options	$ 6,229		6,229
Issuance of restricted stock, net of forfeitures (in shares)		88
Issuance of restricted stock, net of forfeitures	6,165		6,165
Shares of common stock used to satisfy tax withholding obligations	(14)				$ (14)
Dividends declared	(3,414)			(3,414)
Employee stock award compensation	8,231		8,231
Acquisition of noncontrolling interest shares	(10)		(10)
Net income attributable to noncontrolling interest	125					125
Noncontrolling interests attributable to subsidiary equity plan	3		14			(11)
Net income attributable to the Ensign Group, Inc.	68,835			68,835
Common stock, balance at end of period (in shares) at Mar. 31, 2024		56,904
Balance at end of period at Mar. 31, 2024	$ 1,583,467	$ 60	486,336	1,208,074	$ (116,569)	5,566
Treasury stock, balance at end of period (in shares) at Mar. 31, 2024					3,390
Common stock, balance at beginning of period (in shares) at Dec. 31, 2023	56,597	56,597
Balance at beginning of period at Dec. 31, 2023	$ 1,497,317	$ 60	465,707	1,142,653	$ (116,555)	5,452
Treasury stock, balance at beginning of period (in shares) at Dec. 31, 2023	3,390				3,390
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interest	$ 299
Net income attributable to the Ensign Group, Inc.	$ 139,842
Common stock, balance at end of period (in shares) at Jun. 30, 2024	57,049	57,049
Balance at end of period at Jun. 30, 2024	$ 1,663,071	$ 61	499,411	1,275,657	$ (117,764)	5,706
Treasury stock, balance at end of period (in shares) at Jun. 30, 2024	3,400				3,400
Common stock, balance at beginning of period (in shares) at Mar. 31, 2024		56,904
Balance at beginning of period at Mar. 31, 2024	$ 1,583,467	$ 60	486,336	1,208,074	$ (116,569)	5,566
Treasury stock, balance at beginning of period (in shares) at Mar. 31, 2024					3,390
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock to employees and directors resulting from the exercise of stock options (in shares)		117
Issuance of common stock to employees and directors resulting from the exercise of stock options	4,090	$ 1	4,089
Issuance of restricted stock, net of forfeitures (in shares)		38
Shares of common stock used to satisfy tax withholding obligations (in shares)		10			10
Shares of common stock used to satisfy tax withholding obligations	(1,195)				$ (1,195)
Dividends declared	(3,424)			(3,424)
Employee stock award compensation	8,978		8,978
Acquisition of noncontrolling interest shares	(29)		(29)
Net income attributable to noncontrolling interest	174					174
Noncontrolling interests attributable to subsidiary equity plan	3		37			(34)
Net income attributable to the Ensign Group, Inc.	$ 71,007			71,007
Common stock, balance at end of period (in shares) at Jun. 30, 2024	57,049	57,049
Balance at end of period at Jun. 30, 2024	$ 1,663,071	$ 61	$ 499,411	$ 1,275,657	$ (117,764)	$ 5,706
Treasury stock, balance at end of period (in shares) at Jun. 30, 2024	3,400				3,400

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.0600	$ 0.0600	$ 0.0575	$ 0.0575

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 140,141	$ 124,059
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	40,145	34,708
Amortization of deferred financing fees	531	536
Non-cash leasing arrangement	385	481
Impairment of long-lived assets	1,849	0
Deferred income taxes	552	47
Provision for doubtful accounts	718	2,250
Stock-based compensation	17,222	15,454
Cash received from insurance proceeds	199	750
Loss (Gain) on insurance claims and asset disposals	254	(749)
Litigation adjustment	(3,734)	(818)
Change in operating assets and liabilities
Accounts receivable	(62,813)	(39,433)
Prepaid income taxes	(14,968)	4,186
Prepaid expenses and other assets	(15,538)	(516)
Cash surrender value of life insurance policy premiums	(10,725)	(12,132)
Deferred compensation liability	10,707	12,170
Operating lease obligations	400	(6,411)
Accounts payable	(5,559)	1,020
Accrued wages and related liabilities	(8,343)	(991)
Income taxes payable	0	25,240
Other accrued liabilities	650	(578)
Accrued self-insurance liabilities	19,568	8,832
Other long-term liabilities	608	(23)
NET CASH PROVIDED BY OPERATING ACTIVITIES	112,249	168,082
Cash flows from investing activities:
Purchase of property and equipment	(64,635)	(51,614)
Cash payments for business acquisitions	(494)	0
Cash payments for asset acquisitions	(64,896)	(399)
Escrow deposits	(646)	(1,202)
Cash from insurance proceeds	961	913
Cash proceeds from the sale of assets	1,988	18
Purchases of investments	(35,508)	(18,425)
Maturities of investments	19,267	7,862
Other restricted assets	(601)	412
NET CASH USED IN INVESTING ACTIVITIES	(144,564)	(62,435)
Cash flows from financing activities:
Payments on debt	(1,958)	(1,958)
Issuance of common stock upon exercise of options	10,319	8,559
Repurchase of shares of common stock to satisfy tax withholding obligations	(1,209)	(1,929)
Dividends paid	(6,810)	(6,415)
Non-controlling interest distribution	(278)	(4)
Purchase of non-controlling interest	(39)	(177)
Payments of deferred financing costs	0	(19)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	25	(1,943)
Net (decrease) increase in cash and cash equivalents	(32,290)	103,704
Cash and cash equivalents beginning of period	509,626	316,270
Cash and cash equivalents end of period	477,336	419,974
Cash paid during the period for:
Interest	3,488	3,534
Income taxes	56,062	6,030
Lease liabilities	104,749	95,938
Non-cash financing and investing activity
Accrued capital expenditures	6,000	5,000
Accrued dividends declared	3,424	3,231
Right-of-use assets obtained in exchange for new and modified operating lease obligations	$ 124,133	$ 352,131

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS The Company — The Ensign Group, Inc. (collectively, Ensign or the Company), is a holding company with no direct operating assets, employees or revenue. The Company's independent subsidiaries provide health care services across the post-acute care continuum and engage in the ownership, acquisition, development and leasing of skilled nursing, senior living and other healthcare-related properties and ancillary businesses. As of June 30, 2024, the Company's independent subsidiaries operated 312 facilities and other ancillary operations located in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin. The Company's independent subsidiaries have a collective capacity of approximately 31,800 operational skilled nursing beds and 3,300 senior living units. As of June 30, 2024, the Company's independent subsidiaries operated 222 facilities under long-term lease arrangements and had options to purchase 12 of those 222 facilities. The Company's real estate portfolio consists of 120 owned real estate properties, which includes 90 facilities operated and managed by the Company's independent subsidiaries, 30 operations leased to and operated by third-party operators and the Service Center (defined below) location. Of those 30 third-party operations, one senior living operation is located on the same real estate property as a skilled nursing operation that an independent subsidiary operates. Certain of the Company’s wholly-owned independent subsidiaries, collectively referred to as the Service Center, provide specific accounting, payroll, human resources, information technology, legal, risk management and other centralized services to the other independent subsidiaries. The Company also has a wholly-owned captive insurance subsidiary that provides some claims-made coverage to the Company’s independent subsidiaries for general and professional liabilities, as well as coverage for certain workers’ compensation insurance liabilities. In 2022, the Company formed a captive real estate investment trust (REIT), which owns and manages its real estate business, called Standard Bearer Healthcare REIT, Inc. (Standard Bearer). The REIT structure provides the Company with an efficient vehicle for future acquisitions of properties that could be operated by Ensign's independent subsidiaries or other third parties. Standard Bearer has elected to be taxed as a REIT for U.S. federal income tax purposes. Refer to Note 6, Standard Bearer for additional information on Standard Bearer. Each of the Company's independent subsidiaries are operated by wholly-owned subsidiaries that have their own management, employees and assets. References herein to the consolidated “Company” and “its” assets and activities in this Quarterly Report are not meant to imply, nor should it be construed as meaning that The Ensign Group, Inc. has direct operating assets, employees or revenue, or that any of the subsidiaries are operated by The Ensign Group, Inc. Other Information — The accompanying condensed consolidated financial statements as of June 30, 2024 and for the three and six months ended June 30, 2024 and 2023 (collectively, the Interim Financial Statements) are unaudited. Certain information and note disclosures normally included in the annual consolidated financial statements have been condensed or omitted, as permitted under applicable rules and regulations. Readers of the Interim Financial Statements should refer to the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2023, which are included in the Company’s Annual Report on Form 10-K, File No. 001-33757 (the Annual Report) filed with the Securities and Exchange Commission (SEC). Management believes that the Interim Financial Statements reflect all adjustments which are of a normal and recurring nature necessary to present fairly the Company’s financial position and results of operations in all material respects. The results of operations presented in the Interim Financial Statements are not necessarily representative of operations for the entire year.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation — The accompanying Interim Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). The Company is the sole member or stockholder of various consolidated limited liability companies and corporations established to operate various acquired skilled nursing operations, senior living operations and related ancillary services. All intercompany transactions and balances have been eliminated in consolidation. The Company presents noncontrolling interests within the equity section of its condensed consolidated balance sheets and the amount of consolidated net income that is attributable to The Ensign Group, Inc. and the noncontrolling interests in its condensed consolidated statements of income. The Interim Financial Statements include the accounts of all independent subsidiaries controlled by the Company through its ownership of a majority voting interest. The preparation of the Interim Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Interim Financial Statements and the reported amounts of revenue and expenses during the reporting periods. The most significant estimates in the Company’s Interim Financial Statements relate to revenue, acquired property and equipment, goodwill, right-of-use assets, impairment of long-lived assets, lease liabilities, general and professional liabilities, workers' compensation and healthcare claims included in accrued self-insurance liabilities and income taxes. Actual results could differ from those estimates. Certain amounts in the prior period condensed balance sheet and statement of income have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported net income or total assets. Recently Issued Accounting Pronouncements — In October 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-06 "Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative," which amends U.S. GAAP to include 14 disclosure requirements that are currently required under SEC Regulation S-X or Regulation S-K. Each amendment will be effective on the date on which the SEC removes the related disclosure requirement from SEC Regulation S-X or Regulation S-K. The adoption is not expected to have a material impact on the Company's Interim Financial Statements as these requirements were previously incorporated under the SEC Regulations. In November 2023, the FASB issued ASU 2023-07 " Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, " which requires the Company to expand the breadth and frequency of segment disclosures to include additional information about significant segment expenses, the chief operating decision maker (CODM) and other items, and also require the annual disclosures on an interim basis. This guidance is effective for annual periods beginning after December 15, 2023, which will be the Company's fiscal year 2024, and in interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of the ASU on its Quarterly and Annual Reports. In December 2023, the FASB issued ASU 2023-09 " Income Taxes (Topic 740): Improvements to Income Tax Disclosures,

REVENUE AND ACCOUNTS RECEIVABLE

REVENUE AND ACCOUNTS RECEIVABLE	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE AND ACCOUNTS RECEIVABLE	REVENUE AND ACCOUNTS RECEIVABLE The Company's service revenue is derived primarily from providing healthcare services to its patients. Revenue is recognized when services are provided to patients at the amount that reflects the consideration that the Company expects to be entitled from patients and third-party payors, including Medicaid, Medicare and insurers (private and Medicare replacement plans), in exchange for providing patient care. Disaggregation of Revenue The Company disaggregates revenue from contracts with its patients by payors. The Company has determined that disaggregating revenue into these categories achieves the disclosure objectives to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Revenue by Payor The Company’s revenue is derived primarily from providing healthcare services to patients and is recognized on the date services are provided at amounts billable to individual patients, adjusted for estimates for variable consideration. For patients under reimbursement arrangements with third-party payors, including Medicaid, Medicare and private insurers, revenue is recorded based on contractually agreed-upon amounts or rates, adjusted for estimates for variable consideration, on a per patient, daily basis or as services are performed. Revenue from the Medicare and Medicaid programs accounted for 71.2% and 71.4% of all service revenue for the three and six months ended June 30, 2024, respectively, and 73.1% and 73.2% of all service revenue for the three and six months ended June 30, 2023, respectively. Settlements with Medicare and Medicaid payors for retroactive adjustments due to audits and reviews are considered variable consideration and are included in the determination of the estimated transaction price. These settlements are estimated based on the terms of the payment agreement with the payor, correspondence from the payor and the Company’s historical settlement activity. Consistent with healthcare industry practices, any changes to these revenue estimates are recorded in the period the change or adjustment becomes known based on the final settlement. The Company recorded adjustments to revenue which were not material to the Company's revenue for the three and six months ended June 30, 2024 and 2023. Service revenue for the three and six months ended June 30, 2024 and 2023 is summarized in the following tables: Three Months Ended June 30, 2024 2023 Revenue % of Revenue Revenue % of Revenue Medicaid (1)(2) $ 411,760 40.0 % $ 359,781 39.3 % Medicare 258,869 25.1 248,081 27.1 Medicaid — skilled 62,969 6.1 62,015 6.7 Total Medicaid and Medicare 733,598 71.2 669,877 73.1 Managed care 191,022 18.5 161,101 17.6 Private and other (3) 105,954 10.3 85,123 9.3 SERVICE REVENUE $ 1,030,574 100.0 % $ 916,101 100.0 % (1) Medicaid payor includes revenue for senior living operations. (2) Medicaid payor includes revenue related to state relief funding during the three months ended June 30, 2023. (3) Private and other also includes revenue from senior living operations and all revenue generated in other an cillary services. Six Months Ended June 30, 2024 2023 Revenue % of Revenue Revenue % of Revenue Medicaid (1)(2) $ 801,923 39.4 % $ 700,045 38.9 % Medicare 524,452 25.8 495,804 27.6 Medicaid — skilled 126,278 6.2 119,942 6.7 Total Medicaid and Medicare 1,452,653 71.4 1,315,791 73.2 Managed care 379,126 18.6 317,764 17.7 Private and other (3) 203,280 10.0 164,464 9.1 SERVICE REVENUE $ 2,035,059 100.0 % $ 1,798,019 100.0 % (1) Medicaid payor includes revenue for senior living operations. (2) Medicaid payor includes revenue related to state relief funding during the six months ended June 30, 2023. (3) Private and other also includes revenue from senior living operations and all revenue generated in other an cillary services. In addition to the service revenue above, the Company's rental revenue derived from triple-net lease arrangements with third parties are $5,711 and $11,398, respectively, for the three and six months ended June 30, 2024 and $5,244 and $10,167, respectively, for the three and six months ended June 30, 2023. State relief funding In 2023, the Company received state relief funding through Medicaid programs from various states, including healthcare relief funding under the American Rescue Plan Act (ARPA), increases in the Federal Medical Assistance Percentage (FMAP) under the Families First Coronavirus Response Act (FFCRA) and other state specific relief programs. The funding generally incorporates specific use requirements primarily for direct patient care including labor related expenses that are attributable to the COVID-19 pandemic or are associated with providing patient care. Due to the expiration of the COVID-19 Public Health Emergency in May 2023, the Company did not receive additional funding during the three and six months ended June 30, 2024. During the three and six months ended June 30, 2023, the Company received $17,580 and $44,844 in state relief funding and recognized $18,453 and $44,811, respectively, as revenue. Balance Sheet Impact Included in the Company’s condensed consolidated balance sheets are contract balances, comprised of billed accounts receivable and unbilled receivables, which are the result of the timing of revenue recognition, billings and cash collections, as well as contract liabilities, which primarily represent payments the Company receives in advance of services provided. The Company had no material contract liabilities and contract assets as of June 30, 2024 and December 31, 2023, or activity during the three and six months ended June 30, 2024 and 2023. Accounts receivable consist primarily of amounts due from Medicare and Medicaid programs, other government programs, managed care health plans and private payor sources, net of estimates for variable consideration. Accounts receivable as of June 30, 2024 and December 31, 2023, is summarized in the following table: June 30, 2024 December 31, 2023 Medicaid $ 208,584 $ 178,285 Managed care 139,200 125,907 Medicare 86,496 85,512 Private and other payors 122,301 104,683 556,581 494,387 Less: allowance for doubtful accounts (9,460) (9,348) ACCOUNTS RECEIVABLE, NET $ 547,121 $ 485,039

COMPUTATION OF NET INCOME PER C

COMPUTATION OF NET INCOME PER COMMON SHARE	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
COMPUTATION OF NET INCOME PER COMMON SHARE	COMPUTATION OF NET INCOME PER COMMON SHARE Basic net income per share is computed by dividing income from operations attributable to stockholders of The Ensign Group, Inc. by the weighted average number of outstanding common shares for the period. The computation of diluted net income per share is similar to the computation of basic net income per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued. A reconciliation of the numerator and denominator used in the calculation of basic net income per common share follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 NUMERATOR: Net income $ 71,181 $ 64,090 $ 140,141 $ 124,059 Less: net income attributable to noncontrolling interests 174 97 299 214 Net income attributable to The Ensign Group, Inc. $ 71,007 $ 63,993 $ 139,842 $ 123,845 DENOMINATOR: Weighted average shares outstanding for basic net income per share 56,544 55,611 56,441 55,456 Basic net income per common share: $ 1.26 $ 1.15 $ 2.48 $ 2.23 A reconciliation of the numerator and denominator used in the calculation of diluted net income per common share follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 NUMERATOR: Net income $ 71,181 $ 64,090 $ 140,141 $ 124,059 Less: net income attributable to noncontrolling interests 174 97 299 214 Net income attributable to The Ensign Group, Inc. $ 71,007 $ 63,993 $ 139,842 $ 123,845 DENOMINATOR: Weighted average common shares outstanding 56,544 55,611 56,441 55,456 Plus: incremental shares from assumed conversion (1) 1,469 1,649 1,528 1,734 Adjusted weighted average common shares outstanding 58,013 57,260 57,969 57,190 Diluted net income per common share: $ 1.22 $ 1.12 $ 2.41 $ 2.17 (1) Options outstanding which are anti-dilutive and therefore not factored into the weighted average common shares amount above were 1,368 and 1,252 for the three and six months ended June 30, 2024, respectively, and 1,419 and 1,317 for the three and six months ended June 30, 2023, respectivel

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company's financial assets include the captive insurance subsidiary's deposits and investments designated to support long-term insurance subsidiary liabilities and are carried at amortized cost basis of $63,826 and $59,530 as of June 30, 2024 and December 31, 2023, respectively. As of June 30, 2024 and December 31, 2023, the amortized cost basis of the Company's financial assets included in the captive insurance subsidiary's investments are considered to approximate the fair value of these financial assets and are derived using Level 2 inputs. Also included are contracts insuring the lives of certain employees who are eligible to participate in non-qualified deferred compensation plans that are held in a rabbi trust. The cash surrender value of these contracts is based on funds that shadow the investment allocations specified by participants in the deferred compensation plan and are held at fair value. As of June 30, 2024, and December 31, 2023, the fair value of the investment funds was $51,941 and $41,216, respectively, which are derived using Level 2 inputs. Additionally, the Company has other investments held at historical cost basis, which are not material, for which the fair value is derived using Level 3 inputs. The Company believes its amortized cost basis investments that were in an unrealized loss position as of June 30, 2024 and December 31, 2023 do not require an allowance for expected credit losses, nor has any event occurred through the filing date of this report that would indicate differently.

STANDARD BEARER

STANDARD BEARER	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
STANDARD BEARER	STANDARD BEARER Standard Bearer's real estate portfolio consists of 115 of the Company's 120 owned real estate properties, of which 86 are operated and managed by the Company's independent subsidiaries and 30 are leased to and operated by third-party operators. Of those 30 operations, one senior living operation is located on the same real estate property as a skilled nursing operation that an independent subsidiary operates. During the six months ended June 30, 2024, Standard Bearer acquired the real estate of five stand-alone skilled nursing operations and two campus operations for an aggregate purchase price of $63,412. These new additions are operated by seven of the Company's independent subsidiaries . Refer to Note 7, Operation Expansions , for additional information. As part of the formation of Standard Bearer, certain of the Company's independent subsidiaries , Standard Bearer and Standard Bearer's independent real estate subsidiaries entered into several agreements that include leasing, management services and debt arrangements between the operations . All intercompany transactions have been eliminated in consolidation. Refer to Note 8, Business Segments , for additional information related to these intercompany eliminations as well as Standard Bearer as a reportable segment. Intercompany master lease agreements Certain of the Company's independent subsidiaries and 86 Standard Bearer independent real estate subsidiaries have entered into six triple-net master lease agreements (collectively, the Standard Bearer Master Leases). The lease periods range from 15 to 19 years with three five-year renewal options beyond the initial term, on the same terms and conditions. The rent structure under the Standard Bearer Master Leases includes a fixed component, subject to annual escalation equal to the lesser of (1) the percentage change in the Consumer Price Index (but not less than zero) or (2) 2.5%. In addition to rent, the independent subsidiaries are required to pay the following: (1) all impositions and taxes levied on or with respect to the leased properties; (2) all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties; (3) all insurance required in connection with the leased properties and the business conducted on the leased properties; (4) all facility maintenance and repair costs; and (5) all fees in connection with any licenses or authorizations necessary or appropriate for the leased properties and the business conducted on the leased properties. Rental revenue generated from Ensign affiliated operations was $19,156 and $37,162, respectively, for the three and six months ended June 30, 2024 and $16,128 and $32,059, respectively, for the three and six months ended June 30, 2023. Intercompany management agreement Standard Bearer has no employees. The Service Center provides personnel and services to Standard Bearer pursuant to the management agreement between Standard Bearer and the Service Center. The management agreement provides for a base management fee that is equal to 5% of total rental revenue and an incentive management fee that is equal to 5% of funds from operations (FFO) and is capped at 1% of total rental revenue, for a total of 6%. Management fee generated between Standard Bearer and the Service Center for the three and six months ended June 30, 2024 was $1,401 and $2,733, respectively. Management fees generated between Standard Bearer and the Service Center for the three and six months ended June 30, 2023 was $1,195 and $2,377, respectively. Intercompany debt arrangements Standard Bearer obtains its funding through various sources including operating cash flows, access to debt arrangements and intercompany loans. The intercompany debt arrangements include mortgage loans and the Credit Facility to fund acquisitions and working capital needs. The interest rate under the Credit Facility is a base rate plus a margin ranging from 0.25% to 1.25% per annum or SOFR plus a margin ranging from 1.25% to 2.25% per annum. In addition, as the Department of Housing and Urban Development (HUD) mortgage loans and promissory note are entered into by real estate subsidiaries of Standard Bearer, the interest expense incurred from these debts are included in Standard Bearer's segment income. Refer to Note 15, Debt , for additional information related to these debts. Equity Instrument Denominated in the Shares of a Subsidiary As part of the formation of Standard Bearer in 2022, the Company established the Standard Bearer Healthcare REIT, Inc. 2022 Omnibus Incentive Plan (Standard Bearer Equity Plan). The Company may grant stock options and restricted stock awards under the Standard Bearer Equity Plan to employees and management of Ensign's independent subsidiaries. These awards generally vest over a period of five years or upon the occurrence of certain prescribed events. The value of the stock options and restricted stock awards is tied to the value of the common stock of Standard Bearer, which is determined based on an independent valuation of Standard Bearer. The awards can be put to Standard Bearer at various prescribed dates, which in no event is earlier than six months after vesting of the restricted awards or exercise of the stock options. The Company can also call the awards, generally upon employee termination. During the six months ended June 30, 2024 and 2023, the Company did not grant any stock options nor restricted shares under the Standard Bearer Equity Plan.

OPERATION EXPANSIONS

OPERATION EXPANSIONS	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
OPERATION EXPANSIONS	OPERATION EXPANSIONS The expansion focus of the Company's independent subsidiaries is to purchase or lease operations that are complementary to the current operations, accretive to the business, or otherwise advance the Company's strategy. The results of all independent subsidiaries are included in the Interim Financial Statements subsequent to the date of acquisition. Acquisitions are accounted for using the acquisition method of accounting. The Company's independent subsidiaries also enter into long-term leases that may include options to purchase the facilities. As a result, from time to time, an independent real estate subsidiary will acquire the property of facilities that have previously been operated under third-party leases. 2024 Expansions During the six months ended June 30, 2024, the Company expanded its operations and real estate portfolio through a combination of long-term leases and real estate purchases , with the addition of 13 stand-alone skilled nursing operations and two campus operations. One of the stand-alone skilled nursing operations includes a long-term acute care hospital. Of these additions, Standard Bearer acquired the real estate of seven of these operations, all of which were leased back to the Company's independent subsidiaries. Refer to Note 6, Standard Bearer, for additional information on the purchase of real estate properties. These new operations added a total of 1,369 operational skilled nursing beds and 202 operational senior living units to be operated by the Company's independent subsidiaries. Included within the operational skilled nursing beds are 43 long-term acute care beds. In connection with the new operations obtained through long-term leases, the Company did not acquire any material assets or assume any liabilities other than the tenant's post-assumption rights and obligations under the long-term lease. The Company entered into a separate operations transfer agreement with each prior operator as part of each transaction. The Company also invested in new ancillary services that are complementary to its existing businesses. 2023 Expansions During the six months ended June 30, 2023, the Company expanded its operations through long-term leases , with the addition of 19 stand-alone skilled nursing operations. These new operations added a total of 1,764 operational skilled nursing beds operated by the Company's independent subsidiaries. In connection with the new operations obtained through long-term leases, the Company did not acquire any material assets or assume any liabilities other than the tenant's post-assumption rights and obligations under the long-term lease. The Company entered into a separate operations transfer agreement with each prior operator as part of each transaction. The Company’s acquisition strategy has been focused on identifying both opportunistic and strategic acquisitions within its target markets that offer strong opportunities for return. The operations added by the Company are frequently underperforming financially and can have regulatory and clinical challenges to overcome. Financial information, especially with underperforming operations, is often inadequate, inaccurate or unavailable. Consequently, the Company believes that prior operating results are not a meaningful representation of the Company’s current operating results or indicative of the integration potential of its newly acquired independent subsidiaries . The assets added during the six months ended June 30, 2024 were not material operations to the Company individually or in the aggregate. Accordingly, pro forma financial information is not presented. These additions have been included in the condensed consolidated balance sheets of the Company, and the operating results have been included in the condensed consolidated statements of income of the Company since the date the Company gained effective control.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS The Company has two reportable segments: (1) skilled services, which includes the operation of skilled nursing facilities and rehabilitation therapy services and (2) Standard Bearer, which is comprised of selected real estate properties owned by Standard Bearer and leased to skilled nursing and senior living operators. As of June 30, 2024, the skilled services segment includes 272 skilled nursing and 29 campus operations that provide both skilled nursing and rehabilitative care services and senior living services. The Company's Standard Bearer segment consists of 115 owned real estate properties. The Company also reports an “All Other” category that includes results from its senior living operations, which includes 11 stand-alone senior living operations and the senior living operations at 29 campus operations that provide both skilled nursing and rehabilitative care services and senior living services. In addition, the "All Other" category includes mobile diagnostics, medical transportation, other real estate and other ancillary operations. Services included in the “All Other” category are insignificant individually, and therefore do not constitute a reportable segment. The Company’s reportable segments are significant operating segments that offer differentiated services. The Company's CODM reviews financial information for each operating segment to evaluate performance and allocate capital resources. This structure reflects its current operational and financial management and provides the best structure to maximize the quality of care and investment strategy provided, while maintaining financial discipline. The Company's CODM does not review assets by segment in his resource allocation and therefore assets by segment are not disclosed below. Intercompany revenue is eliminated in consolidation, along with corresponding intercompany expenses. Segment income and loss is defined as profit or loss from operations before provision for income taxes, excluding gain or loss from sale of real estate, real estate insurance recoveries and impairment of long-lived assets. Included in segment income for Standard Bearer is expense for intercompany services provided by the Service Center as described in Note 6, Standard Bearer , as it is part of the CODM financial information. The following tables set forth financial information for the segments: Three Months Ended June 30, 2024 Skilled Services Standard Bearer All Other (1) Intercompany Elimination Total Service revenue (2) $ 991,285 $ — $ 44,340 $ (5,051) $ 1,030,574 Rental revenue (3) — 23,354 2,999 (20,642) 5,711 TOTAL REVENUE $ 991,285 $ 23,354 $ 47,339 $ (25,693) $ 1,036,285 Segment income (loss) 122,185 7,360 (37,481) — 92,064 Income before provision for income taxes $ 92,064 Depreciation and amortization 10,911 7,166 2,411 — 20,488 Interest expense (4) $ — $ 6,699 $ 339 $ (4,998) $ 2,040 (1) All Other primarily includes all ancillary operations, stand-alone senior living operations and the Service Center. (2) Intercompany service revenue represents service revenue generated by ancillary operations provided to the Company's independent subsidiaries and management service revenue generated by the Service Center with Standard Bearer. Intercompany service revenue is eliminated in consolidation along with corresponding intercompany cost of service. (3) All Other rental revenue includes rental revenue associated with the Company's subleases to third parties of $1,089 for the three months ended June 30, 2024. Intercompany rental revenue represents rental income generated by both Standard Bearer and other real estate properties with the Company's independent subsidiaries. Intercompany rental revenue is eliminated in consolidation along with corresponding intercompany rent expense. (4) Included in interest expense in Standard Bearer is interest expense incurred from intercompany debt arrangements between Standard Bearer and The Ensign Group, Inc. Intercompany interest expense is eliminated in the "Intercompany Elimination" column. Three Months Ended June 30, 2023 Skilled Services Standard Bearer All Other (1) Intercompany Elimination Total Service revenue (2) $ 884,200 $ — $ 35,535 $ (3,634) $ 916,101 Rental revenue (3) — 19,914 2,819 (17,489) 5,244 TOTAL REVENUE $ 884,200 $ 19,914 $ 38,354 $ (21,123) $ 921,345 Segment income (loss) 117,008 7,133 (42,988) — 81,153 Loss on insurance recoveries from real estate $ (100) Income before provision for income taxes $ 81,053 Depreciation and amortization 9,417 6,133 2,046 — 17,596 Interest expense (4) $ — $ 4,575 $ 304 $ (2,856) $ 2,023 (1) All Other primarily includes all ancillary operations, stand-alone senior living operations and the Service Center. (2) Intercompany service revenue represents service revenue generated by ancillary operations provided to the Company's affiliated wholly owned healthcare facilities and management service revenue generated by the Service Center with Standard Bearer. Intercompany service revenue is eliminated in consolidation along with corresponding intercompany cost of service. (3) All Other rental revenue includes rental revenue associated with the Company's subleases to third parties of $1,063 for the three months ended June 30, 2023. Intercompany rental revenue represents rental income generated by both Standard Bearer and other real estate properties with the Company's independent subsidiaries. Intercompany rental revenue is eliminated in consolidation along with corresponding intercompany rent expense. (4) Included in interest expense in Standard Bearer is interest expense incurred from intercompany debt arrangements between Standard Bearer and The Ensign Group, Inc. Intercompany interest expense is eliminated in the "Intercompany Elimination" column. Six Months Ended June 30, 2024 Skilled Services Standard Bearer All Other (1) Intercompany Elimination Total Service revenue (2) $ 1,960,887 $ — $ 83,966 $ (9,794) $ 2,035,059 Rental revenue (3) — 45,555 5,945 (40,102) 11,398 TOTAL REVENUE $ 1,960,887 $ 45,555 $ 89,911 $ (49,896) $ 2,046,457 Segment income (loss) 248,994 14,618 (80,101) — 183,511 Impairment of long-lived assets (1,849) Income before provision for income taxes $ 181,662 Depreciation and amortization 21,447 13,995 4,703 — 40,145 Interest expense (4) $ — $ 12,676 $ 611 $ (9,283) $ 4,004 (1) All Other primarily includes all ancillary operations, stand-alone senior living operations and the Service Center. (2) Intercompany service revenue represents service revenue generated by ancillary operations provided to the Company's independent subsidiaries and management service revenue generated by the Service Center with Standard Bearer. Intercompany service revenue is eliminated in consolidation along with corresponding intercompany cost of service. (3) All Other rental revenue includes rental revenue associated with the Company's subleases to third parties of $2,169 for the six months ended June 30, 2024. Intercompany rental revenue represents rental income generated by both Standard Bearer and other real estate properties with the Company's independent subsidiaries. Intercompany rental revenue is eliminated in consolidation along with corresponding intercompany rent expense. (4) Included in interest expense in Standard Bearer is interest expense incurred from intercompany debt arrangements between Standard Bearer and The Ensign Group, Inc. Intercompany interest expense is eliminated in the "Intercompany Elimination" column. Six Months Ended June 30, 2023 Skilled Services Standard Bearer All Other (1) Intercompany Elimination Total Service revenue (2) $ 1,735,123 $ — $ 70,068 $ (7,172) $ 1,798,019 Rental revenue (3) — 39,631 5,382 (34,846) 10,167 TOTAL REVENUE $ 1,735,123 $ 39,631 $ 75,450 $ (42,018) $ 1,808,186 Segment income (loss) 230,353 14,352 (85,170) — 159,535 Loss on insurance recoveries from real estate (100) Income before provision for income taxes $ 159,435 Depreciation and amortization 18,481 12,099 4,128 — 34,708 Interest expense (4) $ — $ 9,144 $ 615 $ (5,700) $ 4,059 (1) All Other primarily includes all ancillary operations, stand-alone senior living operations and the Service Center. (2) Intercompany service revenue represents service revenue generated by ancillary operations provided to the Company's affiliated wholly owned healthcare facilities and management service revenue generated by the Service Center with Standard Bearer. Intercompany service revenue is eliminated in consolidation along with corresponding intercompany cost of service. (3) All Other rental revenue includes rental revenue associated with the Company's subleases to third parties of $1,771 for the six months ended June 30, 2023. Intercompany rental revenue represents rental income generated by both Standard Bearer and other real estate properties with the Company's independent subsidiaries. Intercompany rental revenue is eliminated in consolidation along with corresponding intercompany rent expense. (4) Included in interest expense in Standard Bearer is interest expense incurred from intercompany debt arrangements between Standard Bearer and The Ensign Group, Inc. Intercompany interest expense is eliminated in the "Intercompany Elimination" column. Service revenue by major payor source were as follows: Three Months Ended June 30, 2024 Skilled Services All Other (3) Total Service Revenue Revenue % Medicaid (1) $ 403,127 $ 8,633 $ 411,760 40.0 % Medicare 258,869 — 258,869 25.1 Medicaid-skilled 62,969 — 62,969 6.1 Subtotal 724,965 8,633 733,598 71.2 Managed care 191,022 — 191,022 18.5 Private and other (2) 75,298 30,656 105,954 10.3 TOTAL SERVICE REVENUE $ 991,285 $ 39,289 $ 1,030,574 100.0 % (1) Medicaid payor includes revenue generated from senior living operations. (2) Private and other also includes revenue from senior living operations and all revenue generated in other ancillary services. (3) All Other incorporates intercompany eliminations. Three Months Ended June 30, 2023 Skilled Services All Other (3) Total Service Revenue Revenue % Medicaid (1) $ 352,380 $ 7,401 $ 359,781 39.3 % Medicare 248,081 — 248,081 27.1 Medicaid-skilled 62,015 — 62,015 6.7 Subtotal 662,476 7,401 669,877 73.1 Managed care 161,101 — 161,101 17.6 Private and other (2) 60,623 24,500 85,123 9.3 TOTAL SERVICE REVENUE $ 884,200 $ 31,901 $ 916,101 100.0 % (1) Medicaid payor includes revenue generated from senior living operations and revenue related to state relief funding. (2) Private and other also includes revenue from senior living operations and all revenue generated in other ancillary services. (3) All Other incorporates intercompany eliminations. Six Months Ended June 30, 2024 Skilled Services All Other (3) Total Service Revenue Revenue % Medicaid (1) $ 785,245 $ 16,678 $ 801,923 39.4 % Medicare 524,452 — 524,452 25.8 Medicaid-skilled 126,278 — 126,278 6.2 Subtotal 1,435,975 16,678 1,452,653 71.4 Managed care 379,126 — 379,126 18.6 Private and other (2) 145,786 57,494 203,280 10.0 TOTAL SERVICE REVENUE $ 1,960,887 $ 74,172 $ 2,035,059 100.0 % (1) Medicaid payor includes revenue generated from senior living operations. (2) Private and other payors also includes revenue from senior living operations and all revenue generated in other ancillary services. (3) All Other incorporates intercompany eliminations. Six Months Ended June 30, 2023 Skilled Services All Other (3) Total Service Revenue Revenue % Medicaid (1) $ 685,825 $ 14,220 $ 700,045 38.9 % Medicare 495,804 — 495,804 27.6 Medicaid-skilled 119,942 — 119,942 6.7 Subtotal 1,301,571 14,220 1,315,791 73.2 Managed care 317,764 — 317,764 17.7 Private and other (2) 115,788 48,676 164,464 9.1 TOTAL SERVICE REVENUE $ 1,735,123 $ 62,896 $ 1,798,019 100.0 % (1) Medicaid payor includes revenue generated from senior living operations and revenue related to state relief funding. (2) Private and other payors also includes revenue from senior living operations and all revenue generated in other ancillary services. (3) All Other incorporates intercompany eliminations.

PROPERTY AND EQUIPMENT_ NET

PROPERTY AND EQUIPMENT— NET	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT— NET	PROPERTY AND EQUIPMENT - NET Property and equipment, net consists of the following: June 30, 2024 December 31, 2023 Land $ 157,147 $ 142,656 Buildings and improvements 858,472 803,155 Leasehold improvements 185,060 172,064 Equipment 366,891 339,383 Furniture and fixtures 4,241 4,192 Construction in progress 37,623 25,563 1,609,434 1,487,013 Less: accumulated depreciation (431,612) (396,242) PROPERTY AND EQUIPMENT, NET $ 1,177,822 $ 1,090,771 Management evaluated its long-lived assets and recorded an impairment charge of $1,849 during the six months ended June 30, 2024. The Company determined there was no impairment during the three months ended June 30, 2024 and during the three and six months ended June 30, 2023. See also Note 6, Standard Bearer and Note 7, Operation Expansions for information on acquisitions during the six months ended June 30, 2024.

INTANGIBLE ASSETS _ NET

INTANGIBLE ASSETS — NET	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS — NET	INTANGIBLE ASSETS - NET June 30, 2024 December 31, 2023 Weighted Average Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Intangible Assets Net Net Assembled occupancy 0.4 $ 1,158 $ (955) $ 203 $ 781 $ (742) $ 39 Facility trade name 30.0 733 (452) 281 733 (439) 294 Customer relationships 18.4 4,582 (2,797) 1,785 4,582 (2,692) 1,890 TOTAL $ 6,473 $ (4,204) $ 2,269 $ 6,096 $ (3,873) $ 2,223 During the three and six months ended June 30, 2024, amortization expense was $536 and $937, respectively, of which $303 and $606 was related to the amortization of right-of-use assets, respectively. Amortization expense for the three and six months ended June 30, 2023 was $357 and $761, respectively, of which $298 and $596 was related to the amortization of right-of-use assets, respectively. Estimated amortization expense for each of the years ending December 31 is as follows: Year Amount 2024 (remainder) $ 320 2025 234 2026 234 2027 234 2028 234 2029 234 Thereafter 779 $ 2,269 Other indefinite-lived intangible assets consist of the following: June 30, 2024 December 31, 2023 Trade name $ 889 $ 889 Medicare and Medicaid licenses 3,545 3,413 TOTAL $ 4,434 $ 4,302

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Goodwill is subject to annual testing for impairment during the fourth quarter of each year. In addition, goodwill is tested for impairment if events occur or circumstances indicate that its carrying value may not be recoverable. There were no indicators of goodwill impairment noted during the three and six months ended June 30, 2024. The Company anticipates that the majority of goodwill recognized will be fully deductible for tax purposes as of June 30, 2024. Provided that goodwill corresponds to the acquisition of a business and not merely the acquisition of real estate property, the Company's Standard Bearer segment appropriately does not carry a goodwill balance. The following table represents activity in goodwill by the skilled services segment and "all other" category as of and for the six months ended June 30, 2024: Goodwill Skilled Services All Other Total January 1, 2024 $ 67,886 $ 8,983 $ 76,869 Additions — 372 372 June 30, 2024 $ 67,886 $ 9,355 $ 77,241

RESTRICTED AND OTHER ASSETS

RESTRICTED AND OTHER ASSETS	6 Months Ended
	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
RESTRICTED AND OTHER ASSETS	RESTRICTED AND OTHER ASSETS Restricted and other assets consist of the following: June 30, 2024 December 31, 2023 Debt issuance costs, net $ 2,439 $ 2,883 Long-term insurance losses recoverable asset 15,626 15,913 Capital improvement reserves with landlords and lenders 5,376 4,870 Deposits with landlords 2,690 2,661 Escrow deposits 646 1,216 Other 11,774 12,662 RESTRICTED AND OTHER ASSETS $ 38,551 $ 40,205 Included in restricted and other assets as of June 30, 2024 and December 31, 2023 are anticipated insurance recoveries related to the Company's workers' compensation and general and professional liability claims that are recorded on a gross, rather than net, basis.

OTHER ACCRUED LIABILITIES

OTHER ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
OTHER ACCRUED LIABILITIES	OTHER ACCRUED LIABILITIES Other accrued liabilities consist of the following: June 30, 2024 December 31, 2023 Quality assurance fee $ 14,490 $ 14,035 Refunds payable 56,809 51,248 Resident advances 7,152 10,834 Cash held in trust for patients 6,222 6,215 Dividends payable 3,424 3,396 Property taxes 9,825 12,875 Accrued litigation (Note 20) 48,000 51,734 Other 18,718 17,891 OTHER ACCRUED LIABILITIES $ 164,640 $ 168,228 Quality assurance fee represents the aggregate of amounts payable to Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, Tennessee, Utah, Washington and Wisconsin as a result of a mandated fee based on patient days or licensed beds. Refunds payable includes payables related to overpayments, duplicate payments and credit balances from various payor sources. Resident advances occur when the Company receives payments in advance of services provided. Cash held in trust for patients reflects monies received from or on behalf of patients. Maintaining a trust account for patients is a regulatory requirement and, while the trust assets offset the liabilities, the Company assumes a fiduciary responsibility for these funds. The cash balance related to this liability is included in other current assets in the condensed consolidated balance sheets.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recorded income tax expense of $41,521 and $35,376 during the six months ended June 30, 2024 and 2023, respectively, or 22.9% of earnings before income taxes for the six months ended June 30, 2024, compared to 22.2% for the six months ended June 30, 2023. The effective tax rate for both periods is driven by the impact of excess tax benefits from stock-based compensation, offset by non-deductible expenses including non-deductible compensation. The Company is not currently under examination by any major income tax jurisdiction. During 2024, the statutes of limitations will lapse on the Company's 2020 federal tax year and certain 2019 and 2020 state tax years. The Company does not believe the federal or state statute lapses or any other event will significantly impact the balance of unrecognized tax benefits in the next twelve months. The net balance of unrecognized tax benefits was not material to the Interim Financial Statements for the six months ended June 30, 2024 and 2023.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT Debt consists of the following: June 30, 2024 December 31, 2023 Mortgage loans and promissory note $ 150,430 $ 152,388 Less: current maturities (4,017) (3,950) Less: debt issuance costs, net (2,854) (2,941) LONG-TERM DEBT LESS CURRENT MATURITIES $ 143,559 $ 145,497 Credit Facility with a Lending Consortium Arranged by Truist The Company maintains a revolving credit facility between the Company and its independent subsidiaries, including Standard Bearer as co-borrowers, and Truist Securities (Truist) (the Credit Facility) with a revolving line of credit of up to $600,000 in aggregate principal amount with a maturity date of April 8, 2027. Borrowings are supported by a lending consortium arranged by Truist. The interest rates applicable to loans under the Credit Facility are, at the Company's option, equal to either a base rate plus a margin ranging from 0.25% to 1.25% per annum or SOFR plus a margin ranging from 1.25% to 2.25% per annum, based on the Consolidated Total Net Debt to Consolidated EBITDA ratio (as defined in the Credit Facility). In addition, there is a commitment fee on the unused portion of the commitments that ranges from 0.20% to 0.40% per annum, depending on the Consolidated Total Net Debt to Consolidated EBITDA ratio. Borrowings made under the Credit Facility are guaranteed, jointly and severally, by certain of the Company’s wholly-owned subsidiaries, and are secured by a pledge of stock of the Company's material independent subsidiaries as well as a first lien on substantially all of such independent subsidiaries' personal property. The Credit Facility contains customary covenants that, among other things, restrict, subject to certain exceptions, the ability of the Company and its independent subsidiaries to grant liens on their assets, incur indebtedness, sell assets, make investments, engage in acquisitions, mergers or consolidations, amend certain material agreements and pay certain dividends and other restricted payments. Under the terms of the Credit Facility, the Company must comply with financial maintenance covenants to be tested quarterly, consisting of (i) a maximum consolidated total net debt to consolidated EBITDA ratio (which shall not be greater than 3.75:1.00; provided that if the aggregate consideration for approved acquisitions in a six month period is greater than $50,000, then the ratio can be increased at the election of the Company with notice to the administrative agent to 4.25:1.00 for the first fiscal quarter and the immediately following three fiscal quarters), and (ii) a minimum interest/rent coverage ratio (which cannot be less than 1.50:1.00). As of June 30, 2024, there was no outstanding debt under the Credit Facility. The Company was in compliance with all loan covenants as of June 30, 2024. Mortgage Loans and Promissory Note As of June 30, 2024, the Company has 23 subsidiaries that have mortgage loans insured with HUD in the aggregate amount of $148,583, which subjects these subsidiaries to HUD oversight and periodic inspections. The mortgage loans bear effective interest rates in a range of 3.1% to 4.2%, including fixed interest rates in a range of 2.4% to 3.3% per annum. In addition to the interest rate, the Company incurs other fees for HUD placement, including but not limited to audit fees. Amounts borrowed under the mortgage loans may be prepaid, subject to prepayment fees based on the principal balance on the date of prepayment. For the majority of the loans, during the first three years, the prepayment fee is 10.0% and is reduced by 3.0% in the fourth year of the loan, and reduced by 1.0% per year for years five through ten of the loan. There is no prepayment penalty after year ten. The terms for all the mortgage loans are 25 to 35 years. In addition to the HUD mortgage loans above, the Company has a promissory note of $1,847 that bears a fixed interest rate of 5.3% per annum and has a term of 12 years. The note, which was assumed as part of an acquisition, is secured by the real property comprising the facility and the rent, issues and profits thereof, as well as all personal property used in the operation of the facility. Based on Level 2 inputs, the carrying value of the Company's long-term debt is considered to approximate the fair value of such debt for all periods presented based upon the interest rates that the Company believes it can currently obtain for similar debt. Off-Balance Sheet Arrangements As of June 30, 2024, the Company had approximately $26,895 of borrowing capacity under the Credit Facility pledged as collateral to secure outstanding letters of credit, which increased by $20,640 from December 31, 2023. The Company believes that its outstanding letters of credit as of June 30, 2024 do not require an allowance for expected credit losses, nor has any event occurred through the filing date of this report that would indicate differently.

OPTIONS AND AWARDS

OPTIONS AND AWARDS	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
OPTIONS AND AWARDS	OPTIONS AND AWARDS Stock-based compensation expense consists of stock-based payment awards made to employees and directors, including employee stock options and restricted stock awards, based on estimated fair values. As stock-based compensation expense recognized in the Company’s condensed consolidated statements of income for the three and six months ended June 30, 2024 and 2023 was based on awards expected to vest, it has been reduced for estimated forfeitures. The Company estimates forfeitures at the time of grant and, if necessary, revises the estimate in subsequent periods if actual forfeitures differ. 2022 Omnibus Incentive Plan (2022 Plan) — The Company has one stock incentive plan, the 2022 Omnibus Incentive Plan (the 2022 Plan), pursuant to which grants of the Company's securities may currently be made. Including the shares rolled over from the 2017 Omnibus Incentive Plan, the 2022 Plan provides for the issuance of 3,452 shares of common stock. The number of shares available to be issued under the 2022 Plan will be reduced by (i) one share for each share that relates to an option or stock appreciation right award and (ii) two shares for each share which relates to an award other than a stock option or stock appreciation right award (a full-value award). Non-employee director options, to the extent granted, will vest and become exercisable in three equal annual installments, or the length of the term if less than three years, on the completion of each year of service measured from the grant date. All other options generally vest over five years at 20% per year on the anniversary of the grant date. Options expire ten years from the date of grant. At June 30, 2024, the total number of shares available for issuance under the 2022 Plan was 860. The Company uses the Black-Scholes option-pricing model to recognize the value of stock-based compensation expense for stock option awards. Determining the appropriate fair-value model and calculating the fair value of stock option awards at the grant date requires judgment, including estimating stock price volatility, expected option life, and forfeiture rates. The fair-value of the restricted stock awards at the grant date is based on the market price on the grant date, adjusted for forfeiture rates. The Company develops estimates based on historical data and market information, which can change significantly over time. Stock Options The Company used the following assumptions for stock options granted during the three months ended June 30, 2024 and 2023: Grant Year Options Granted Weighted Average Risk-Free Rate Expected Life Weighted Average Volatility Weighted Average Dividend Yield 2024 173 4.4% 6.1 years 40.6% 0.2% 2023 191 3.7% 6.3 years 41.4% 0.3% The Company used the following assumptions for stock options granted during the six months ended June 30, 2024 and 2023: Grant Year Options Granted Weighted Average Risk-Free Rate Expected Life Weighted Average Volatility Weighted Average Dividend Yield 2024 354 4.4% 6.1 years 40.8% 0.2% 2023 413 3.9% 6.3 years 41.5% 0.3% For the six months ended June 30, 2024 and 2023, the following represents the exercise price and fair value displayed at grant date for stock option grants: Grant Year Granted Weighted Average Exercise Price Weighted Average Fair Value of Options 2024 354 $ 120.98 $ 55.39 2023 413 $ 90.31 $ 41.46 The weighted average exercise price equaled the weighted average fair value of common stock on the grant date for all options granted during the periods ended June 30, 2024 and 2023 and therefore, the intrinsic value was $0 at the date of grant. The following table represents the employee stock option activity during the six months ended June 30, 2024: Number of Options Outstanding Weighted Average Number of Weighted Average Exercise Price of Options Vested January 1, 2024 3,991 $ 62.65 1,887 $ 39.58 Granted 354 120.98 Forfeited (42) 82.22 Exercised (336) 30.75 June 30, 2024 3,967 $ 70.34 1,881 $ 46.34 The aggregate intrinsic value of options outstanding, vested, expected to vest and exercised as of June 30, 2024 and December 31, 2023 is as follows: Options June 30, 2024 December 31, 2023 Outstanding $ 211,650 $ 197,819 Vested 145,531 137,048 Expected to vest 61,779 56,759 The intrinsic value is calculated as the difference between the market value of the underlying common stock and the exercise price of the options . The aggregate intrinsic value of options that vested during the six months ended June 30, 2024 and 2023 was $18,073 and $13,639, respectively. The total intrinsic value of options exercised during the six months ended June 30, 2024 and 2023 was $29,894 and $29,741, respectively. Restricted Stock Awards The Company granted 42 and 137 restricted stock awards during the three and six months ended June 30, 2024, respectively. The Company granted 61 and 166 restricted stock awards during the three and six months ended June 30, 2023, respectively. All awards were granted at an issue price of $0 and generally vest over five years. The fair value per share of restricted awards granted during the six months ended June 30, 2024 and 2023 ranged from $116.65 to $122.69 and $89.83 to $98.31, respectively. The fair value per share includes quarterly stock awards to non-employee directors. Included in the restricted stock award grants are $6,165 and $5,068 of annual bonuses that were settled in vested restricted stock awards d uring the six months ended June 30, 2024 and 2023, respectively. A summary of the status of the Company's non-vested restricted stock awards as of June 30, 2024 and changes during the six months ended June 30, 2024 is presented below: Non-Vested Restricted Awards Weighted Average Grant Date Fair Value Nonvested at January 1, 2024 431 $ 78.91 Granted 137 119.44 Vested (147) 88.54 Forfeited (11) 80.17 Nonvested at June 30, 2024 410 $ 88.91 During the three and six months ended June 30, 2024, the Company granted 5 and 9 , respectively, automatic quarterly stock awards to non-employee directors for their service on the Company's board of directors. The fair value per share of these stock awards ranged from $116.65 to $118.69 based on the market price on the grant date. Long-Term Incentive Plan On August 27, 2019, the Board approved the Long-Term Incentive Plan (the 2019 LTI Plan). The 2019 LTI Plan provides that certain employees of the Company who assisted in the consummation of the spin-off of The Pennant Group, Inc. (Pennant) from the Company in 2019 (spin-off) were granted shares of restricted stock upon successful completion of the spin-off. The 2019 LTI Plan provides for the issuance of 500 shares of Pennant restricted stock. The shares are vested over five years at 20% per year on the anniversary of the grant date. If a recipient is terminated or voluntarily leaves the Company, all shares subject to restriction or not yet vested are entirely forfeited. The total stock-based compensation related to the 2019 LTI Plan was approximately $208 and $414 for the three and six months ended June 30, 2024, respectively, compared to $211 and $402 for the three and six months ended June 30, 2023, respectively. Stock-based compensation expense Stock-based compensation expense recognized for the Company's equity incentive plans and long-term incentive plan for the three and six months ended June 30, 2024 and 2023 was as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock-based compensation expense related to stock options $ 5,518 $ 4,963 $ 10,506 $ 8,388 Stock-based compensation expense related to restricted stock awards 2,936 3,481 5,663 6,209 Stock-based compensation expense related to restricted stock awards to non-employee directors 524 437 1,040 857 TOTAL $ 8,978 $ 8,881 $ 17,209 $ 15,454 In future periods, the Company expects to recognize approximately $75,356 and $31,859 in stock-based compensation expense for unvested options and unvested restricted stock awards, respectively, that were outstanding as of June 30, 2024. Future stock-based compensation expense will be recognized over 3.9 and 3.6 weighted average years for unvested options and restricted stock awards, respectively. There were 2,086 unvested and outstanding options as of June 30, 2024, of which 1,916 shares are expected to vest. The weighted average contractual life for options outstanding, vested and expected to vest as of June 30, 2024 was 6.8 years.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
LEASES	LEASES The Company leases from CareTrust REIT, Inc. (CareTrust) real property associated with 99 independent skilled nursing and senior living facilities used in the Company’s operations, 98 of which are under nine “triple-net” master lease agreements (collectively, the Master Leases), which range in terms from 13 to 20 years. At the Company’s option, the Master Leases may be extended for two or three five-year renewal terms beyond the initial term, on the same terms and conditions. The extension of the term of any of the Master Leases is subject to the following conditions: (1) no event of default under any of the Master Leases having occurred and continuing; and (2) the tenants providing timely notice of their intent to renew. The term of the Master Leases is subject to termination prior to the expiration of the current term upon default by the tenants in their obligations, if not cured within any applicable cure periods set forth in the Master Leases. If the Company elects to renew the term of a Master Lease, the renewal will be effective to all, but not less than all, of the leased property then subject to the Master Lease. Additionally, four of the 99 facilities leased from CareTrust include an option to purchase that the Company can exercise starting on December 1, 2024. In the first quarter of 2024, the Company added two operations and extended the term for one of the Master Leases to 20 years. As a result, the total lease liabilities and right-of-use assets increased by $48,112 to reflect the new lease obligations. The Company does not have the ability to terminate the obligations under a Master Lease prior to its expiration without CareTrust’s consent. If a Master Lease is terminated prior to its expiration other than with CareTrust’s consent, the Company may be liable for damages and incur charges such as continued payment of rent through the end of the lease term as well as maintenance and repair costs for the leased property. The rent structure under the Master Leases includes a fixed component, subject to annual escalation equal to the lesser of (1) the percentage change in the Consumer Price Index (but not less than zero) or (2) 2.5%. In addition to rent, the Company is required to pay the following: (1) all impositions and taxes levied on or with respect to the leased properties (other than taxes on the income of the lessor); (2) all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties; (3) all insurance required in connection with the leased properties and the business conducted on the leased properties; (4) all facility maintenance and repair costs; and (5) all fees in connection with any licenses or authorizations necessary or appropriate for the leased properties and the business conducted on the leased properties. The terms and conditions of the one stand-alone lease are substantially the same as those for the master leases described above. Total rent expense under the Master Leases was approximately $17,272 and $34,072 for the three and six months ended June 30, 2024, respectively, and $16,674 and $32,957 for the three and six months ended June 30, 2023, respectively. Among other things, under the Master Leases, the Company must maintain compliance with specified financial covenants measured on a quarterly basis, including a portfolio coverage ratio and a minimum rent coverage ratio. The Master Leases also include certain reporting, legal and authorization requirements. The Company is in compliance with requirements of the Master Leases as of June 30, 2024. In connection with the spin-off that occurred in 2019, the Company guaranteed certain leases of Pennant based on the underlying terms of the leases. The Company does not consider performance under these guarantees to be probable and the likelihood of Pennant defaulting is remote, and therefore no liabilities have been accrued. The Company leases facilities where its independent subsidiaries operate and certain administrative offices under non-cancelable operating leases, most of which have initial lease terms ranging from five three Eighty-two of the Company’s independent subsidiaries, excluding the subsidiaries that are operated under the Master Leases with CareTrust, are operated under 13 separate master lease arrangements. In the first quarter of 2024, the Company amended one of the separate master lease arrangements to add two stand-alone skilled nursing operations operated by the Company's independent subsidiaries. The amended master lease increased the lease liabilities and right-of-use assets by $30,980 to reflect the new lease obligations and extended the term to 20 years. Under the master leases, a default at a single facility could subject one or more of the other facilities covered by the same master lease to the same default risk. Failure to comply with Medicare and Medicaid provider requirements is a default under several of the Company’s leases, master lease agreements and debt financing instruments. In addition, other potential defaults related to an individual facility may cause a default of an entire master lease portfolio and could trigger cross-default provisions in the Company’s outstanding debt arrangements and other leases. With an indivisible lease, it is difficult to restructure the composition of the portfolio or economic terms of the lease without the consent of the landlord. The components of operating lease expense are as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Rent - cost of services (1) $ 53,272 $ 49,760 $ 105,148 $ 96,397 General and administrative expense 181 125 334 249 Depreciation and amortization (2) 303 298 606 596 Variable lease costs (3) 5,649 5,154 11,419 9,986 $ 59,405 $ 55,337 $ 117,507 $ 107,228 (1) Rent - cost of services includes deferred rent expense adju stments of $190 and $385 for the three and six months ended June 30, 2024, respectively, and $218 and $481 for the three and six months ended June 30, 2023, respectively. Additionally, rent - cost of services includes other variable lease costs such as CPI increases and short-term leases of $3,300 and $6,357 for the three and six months ended June 30, 2024, respectively, and $2,398 and $4,458 for the three and six months ended June 30, 2023, respectively. (2) Depreciation and amortization is related to the amortization of favorable and direct lease costs. (3) Variable lease costs, including property taxes and insurance, are classified in cost of services in the Company's condensed consolidated statements of income. Future minimum lease payments for all third-party leases as of June 30, 2024 are as follows: Year Amount 2024 (remainder) $ 100,614 2025 201,246 2026 201,024 2027 200,353 2028 199,265 2029 195,553 Thereafter 1,691,806 TOTAL LEASE PAYMENTS 2,789,861 Less: present value adjustment (980,435) PRESENT VALUE OF TOTAL LEASE LIABILITIES 1,809,426 Less: current lease liabilities (89,176) LONG-TERM OPERATING LEASE LIABILITIES $ 1,720,250 Operating lease liabilities are based on the net present value of the remaining lease payments over the remaining lease term. In determining the present value of lease payments, the Company used its incremental borrowing rate based on the information available at the lease commencement date. As of June 30, 2024, the weighted average remaining lease term is 14.9 years and the weighted average discount rate used to determine the operating lease liabilities is 6.4%. Lessor Activities The Company leases its owned real estate properties to third-party operators, of which 29 senior living operations are operated by Pennant. All of these properties are triple-net leases, whereby the respective tenants are responsible for all costs at the properties including: (1) all impositions and taxes levied on or with respect to the leased properties (other than taxes on the income of the lessor); (2) all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties; (3) all insurance required in connection with the leased properties and the business conducted on the leased properties; (4) all facility maintenance and repair costs; and (5) all fees in connection with any licenses or authorizations necessary or appropriate for the leased properties and the business conducted on the leased properties. The initial terms range from 14 to 16 years. During the first quarter of 2023, the Company entered into a sublease agreement for three stand-alone skilled nursing operations with a third-party operator with an initial lease term of 18 years. Total rental income from all third-party sources for the three and six months ended June 30, 2024 and 2023 is as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Pennant (1) $ 3,824 $ 3,742 $ 7,644 $ 7,484 Other third-party (2) 1,887 1,502 3,754 2,683 TOTAL $ 5,711 $ 5,244 $ 11,398 $ 10,167 (1) Pennant rental income includes variable rent such as property taxes of $314 and $632 during the three and six months ended June 30, 2024 and $325 and $650 for the three and six months ended June 30, 2023, respectively. (2) Other third-party includes rental revenue associated with the Company's subleases to third parties of $1,089 and $2,169 for the three and six months ended June 30, 2024, and $1,063 and $1,771 for the three and six months ended June 30, 2023, respectively. Future annual rental income for all third-party leases as of June 30, 2024 were as follows: Year Amount (1) 2024 (remainder) $ 10,844 2025 21,427 2026 21,216 2027 21,216 2028 21,216 2029 21,216 Thereafter 109,635 TOTAL $ 226,770
LEASES	LEASES The Company leases from CareTrust REIT, Inc. (CareTrust) real property associated with 99 independent skilled nursing and senior living facilities used in the Company’s operations, 98 of which are under nine “triple-net” master lease agreements (collectively, the Master Leases), which range in terms from 13 to 20 years. At the Company’s option, the Master Leases may be extended for two or three five-year renewal terms beyond the initial term, on the same terms and conditions. The extension of the term of any of the Master Leases is subject to the following conditions: (1) no event of default under any of the Master Leases having occurred and continuing; and (2) the tenants providing timely notice of their intent to renew. The term of the Master Leases is subject to termination prior to the expiration of the current term upon default by the tenants in their obligations, if not cured within any applicable cure periods set forth in the Master Leases. If the Company elects to renew the term of a Master Lease, the renewal will be effective to all, but not less than all, of the leased property then subject to the Master Lease. Additionally, four of the 99 facilities leased from CareTrust include an option to purchase that the Company can exercise starting on December 1, 2024. In the first quarter of 2024, the Company added two operations and extended the term for one of the Master Leases to 20 years. As a result, the total lease liabilities and right-of-use assets increased by $48,112 to reflect the new lease obligations. The Company does not have the ability to terminate the obligations under a Master Lease prior to its expiration without CareTrust’s consent. If a Master Lease is terminated prior to its expiration other than with CareTrust’s consent, the Company may be liable for damages and incur charges such as continued payment of rent through the end of the lease term as well as maintenance and repair costs for the leased property. The rent structure under the Master Leases includes a fixed component, subject to annual escalation equal to the lesser of (1) the percentage change in the Consumer Price Index (but not less than zero) or (2) 2.5%. In addition to rent, the Company is required to pay the following: (1) all impositions and taxes levied on or with respect to the leased properties (other than taxes on the income of the lessor); (2) all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties; (3) all insurance required in connection with the leased properties and the business conducted on the leased properties; (4) all facility maintenance and repair costs; and (5) all fees in connection with any licenses or authorizations necessary or appropriate for the leased properties and the business conducted on the leased properties. The terms and conditions of the one stand-alone lease are substantially the same as those for the master leases described above. Total rent expense under the Master Leases was approximately $17,272 and $34,072 for the three and six months ended June 30, 2024, respectively, and $16,674 and $32,957 for the three and six months ended June 30, 2023, respectively. Among other things, under the Master Leases, the Company must maintain compliance with specified financial covenants measured on a quarterly basis, including a portfolio coverage ratio and a minimum rent coverage ratio. The Master Leases also include certain reporting, legal and authorization requirements. The Company is in compliance with requirements of the Master Leases as of June 30, 2024. In connection with the spin-off that occurred in 2019, the Company guaranteed certain leases of Pennant based on the underlying terms of the leases. The Company does not consider performance under these guarantees to be probable and the likelihood of Pennant defaulting is remote, and therefore no liabilities have been accrued. The Company leases facilities where its independent subsidiaries operate and certain administrative offices under non-cancelable operating leases, most of which have initial lease terms ranging from five three Eighty-two of the Company’s independent subsidiaries, excluding the subsidiaries that are operated under the Master Leases with CareTrust, are operated under 13 separate master lease arrangements. In the first quarter of 2024, the Company amended one of the separate master lease arrangements to add two stand-alone skilled nursing operations operated by the Company's independent subsidiaries. The amended master lease increased the lease liabilities and right-of-use assets by $30,980 to reflect the new lease obligations and extended the term to 20 years. Under the master leases, a default at a single facility could subject one or more of the other facilities covered by the same master lease to the same default risk. Failure to comply with Medicare and Medicaid provider requirements is a default under several of the Company’s leases, master lease agreements and debt financing instruments. In addition, other potential defaults related to an individual facility may cause a default of an entire master lease portfolio and could trigger cross-default provisions in the Company’s outstanding debt arrangements and other leases. With an indivisible lease, it is difficult to restructure the composition of the portfolio or economic terms of the lease without the consent of the landlord. The components of operating lease expense are as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Rent - cost of services (1) $ 53,272 $ 49,760 $ 105,148 $ 96,397 General and administrative expense 181 125 334 249 Depreciation and amortization (2) 303 298 606 596 Variable lease costs (3) 5,649 5,154 11,419 9,986 $ 59,405 $ 55,337 $ 117,507 $ 107,228 (1) Rent - cost of services includes deferred rent expense adju stments of $190 and $385 for the three and six months ended June 30, 2024, respectively, and $218 and $481 for the three and six months ended June 30, 2023, respectively. Additionally, rent - cost of services includes other variable lease costs such as CPI increases and short-term leases of $3,300 and $6,357 for the three and six months ended June 30, 2024, respectively, and $2,398 and $4,458 for the three and six months ended June 30, 2023, respectively. (2) Depreciation and amortization is related to the amortization of favorable and direct lease costs. (3) Variable lease costs, including property taxes and insurance, are classified in cost of services in the Company's condensed consolidated statements of income. Future minimum lease payments for all third-party leases as of June 30, 2024 are as follows: Year Amount 2024 (remainder) $ 100,614 2025 201,246 2026 201,024 2027 200,353 2028 199,265 2029 195,553 Thereafter 1,691,806 TOTAL LEASE PAYMENTS 2,789,861 Less: present value adjustment (980,435) PRESENT VALUE OF TOTAL LEASE LIABILITIES 1,809,426 Less: current lease liabilities (89,176) LONG-TERM OPERATING LEASE LIABILITIES $ 1,720,250 Operating lease liabilities are based on the net present value of the remaining lease payments over the remaining lease term. In determining the present value of lease payments, the Company used its incremental borrowing rate based on the information available at the lease commencement date. As of June 30, 2024, the weighted average remaining lease term is 14.9 years and the weighted average discount rate used to determine the operating lease liabilities is 6.4%. Lessor Activities The Company leases its owned real estate properties to third-party operators, of which 29 senior living operations are operated by Pennant. All of these properties are triple-net leases, whereby the respective tenants are responsible for all costs at the properties including: (1) all impositions and taxes levied on or with respect to the leased properties (other than taxes on the income of the lessor); (2) all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties; (3) all insurance required in connection with the leased properties and the business conducted on the leased properties; (4) all facility maintenance and repair costs; and (5) all fees in connection with any licenses or authorizations necessary or appropriate for the leased properties and the business conducted on the leased properties. The initial terms range from 14 to 16 years. During the first quarter of 2023, the Company entered into a sublease agreement for three stand-alone skilled nursing operations with a third-party operator with an initial lease term of 18 years. Total rental income from all third-party sources for the three and six months ended June 30, 2024 and 2023 is as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Pennant (1) $ 3,824 $ 3,742 $ 7,644 $ 7,484 Other third-party (2) 1,887 1,502 3,754 2,683 TOTAL $ 5,711 $ 5,244 $ 11,398 $ 10,167 (1) Pennant rental income includes variable rent such as property taxes of $314 and $632 during the three and six months ended June 30, 2024 and $325 and $650 for the three and six months ended June 30, 2023, respectively. (2) Other third-party includes rental revenue associated with the Company's subleases to third parties of $1,089 and $2,169 for the three and six months ended June 30, 2024, and $1,063 and $1,771 for the three and six months ended June 30, 2023, respectively. Future annual rental income for all third-party leases as of June 30, 2024 were as follows: Year Amount (1) 2024 (remainder) $ 10,844 2025 21,427 2026 21,216 2027 21,216 2028 21,216 2029 21,216 Thereafter 109,635 TOTAL $ 226,770

DEFINED CONTRIBUTION PLANS

DEFINED CONTRIBUTION PLANS	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
DEFINED CONTRIBUTION PLANS	DEFINED CONTRIBUTION PLANS The Company has a 401(k) defined contribution plan (the 401(k) Plan), whereby eligible employees may contribute up to 90% of their annual basic earnings, subject to applicable annual Internal Revenue Code limits. Additionally, the 401(k) Plan provides for discretionary matching contributions (as defined in the 401(k) Plan) by the Company. The Company has a non-qualified deferred compensation plan (DCP), whereby certain highly compensated employees who are otherwise ineligible to participate in the Company's 401(k) plan, may defer the receipt of a portion of their base compensation and, for certain employees, up to 100% of their eligible bonuses. Additionally, the DCP allows for the employee deferrals to be deposited into a rabbi trust and the funds are generally invested in individual variable life insurance contracts owned by the Company that are specifically designed to fund savings plans of this nature. The Company paid for related administrative costs, which were not significant during the three and six months ended June 30, 2024 and 2023. As of June 30, 2024 and December 31, 2023, the Company accrued $55,041 and $49,201, respectively, as long term deferred compensation in other long term liabilities on the consolidated balance sheet. Cash surrender value of the contracts is based on investment funds that shadow the investment allocations specified by participants in the deferred compensation plan. Refer to Note 5, Fair Value Measurements for more information on the funds. For the three and six months ended June 30, 2024, the Company recorded gains related to its DCP of $527 and $2,921, respectively, which are included in other income, and recorded offsetting expenses of $628 and $3,116, which are allocated between cost of services and general and administrative expenses.

SELF INSURANCE LIABILITIES

SELF INSURANCE LIABILITIES	6 Months Ended
	Jun. 30, 2024
Insurance [Abstract]
SELF INSURANCE LIABILITIES	SELF INSURANCE LIABILITIES The Company is partially self-insured for general and professional liability claims up to a base amount per claim (the self-insured retention) with an aggregate, one-time deductible above this limit. Losses beyond these amounts are insured through third-party policies with coverage limits per claim, per location and on an aggregate basis for the Company. The combined self-insured retention for the Company's independent subsidiaries in California is $750 per claim, subject to an additional one-time deductible of $1,500. For the independent subsidiaries not in California, the self-insured claim is $650 per claim, subject to an additional one-time, deductible of $1,400. For all independent subsidiaries, except those located in Colorado, the third-party coverage above these limits is $1,000 per claim, $3,000 per operation, with a $10,000 blanket aggregate limit and an additional state-specific aggregate where required by state law. In Colorado, the third-party coverage above these limits is $1,000 per claim and $3,000 per operation, which is independent of the aforementioned blanket aggregate limits that apply outside of Colorado. The majority of the self-insured retention and deductible limits for general and professional liabilities and workers' compensation liabilities are self-insured through the captive insurance subsidiary, the related assets and liabilities of which are included in the accompanying condensed consolidated balance sheets. The captive insurance subsidiary is subject to certain statutory requirements as an insurance provider. The Company’s policy is to accrue amounts equal to the actuarial estimated costs to settle open claims of insureds, as well as an estimate of the cost of insured claims that have been incurred but not reported. The Company develops information about the size of the ultimate claims based on historical experience, current industry information and actuarial analysis, and evaluates the estimates for claim loss exposure on a quarterly basis. The Company uses actuarial valuations to estimate the liability based on historical experience and industry information. Accrued general liability and professional malpractice liabilities on an undiscounted basis, net of anticipated insurance recoveries, were $123,278 and $105,729 as of June 30, 2024 and December 31, 2023, respectively. The Company’s independent subsidiaries are self-insured for workers’ compensation liabilities in California. To protect itself against loss exposure in California with this policy, the Company has purchased individual specific excess insurance coverage that insures individual claims that exceed $625 per occurrence. In Texas, the independent subsidiaries have elected non-subscriber status for workers’ compensation claims and the Company has purchased individual stop-loss coverage that insures individual claims that exceed $750 per occurrence. The Company’s independent subsidiaries in all other states, with the exception of Washington, are under a loss sensitive plan that insures individual claims that exceed $350 per occurrence. In the state of Washington, the Company is self-insured and has purchased individual specific excess insurance coverage that insures individual claims that exceed $500 per occurrence. For all of the self-insured plans and retention, the Company accrues amounts equal to the estimated costs to settle open claims, as well as an estimate of the cost of claims that have been incurred but not reported. The Company uses actuarial valuations to estimate the liability based on historical experience and industry information. Accrued workers’ compensation liabilities are recorded on an undiscounted basis in the accompanying condensed consolidated balance sheets and were $31,585 and $29,454 as of June 30, 2024 and December 31, 2023, respectively. In addition, the Company has recorded an asset and corresponding liability of $15,626 and $15,913 as of June 30, 2024 and December 31, 2023, respectively, in order to present the ultimate costs of malpractice and workers' compensation claims and the anticipated insurance recoveries on a gross basis. See Note 12, Restricted and Other Assets. The Company self-funds medical (including prescription drugs) and dental healthcare benefits for the majority of its employees. The Company is fully liable for all financial and legal aspects of these benefit plans. To protect itself against loss exposure with this policy, the Company has purchased individual stop-loss insurance coverage that insures individual claims that exceed $525 for each covered person for fiscal year 2024. As of June 30, 2024 and December 31, 2023, the Company’s accrued liability under these plans recorded on an undiscounted basis in the accompanying condensed consolidated balance sheets was $14,702 and $14,814, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Indemnities — From time to time, the Company enters into certain types of contracts that contingently require the Company to indemnify parties against third-party claims. These contracts primarily include (i) certain real estate leases, under which the Company may be required to indemnify property owners or prior facility operators for post-transfer environmental obligations or other liabilities and other claims arising from the Company’s use of the applicable premises, (ii) operations transfer agreements, in which the Company agrees to indemnify past operators of facilities the Company acquires against certain liabilities arising from the transfer of the operation and/or the operation thereof after the transfer to the Company's independent subsidiary, (iii) certain lending agreements, under which the Company may be required to indemnify the lender against various claims and liabilities, and (iv) certain agreements with the Company’s officers, directors and others, under which the Company may be required to indemnify such persons for liabilities based on the nature of their relationship to the Company. The terms of such obligations vary by contract and, in most instances, do not expressly state or include a specific or maximum dollar amount. Generally, amounts under these contracts cannot be reasonably estimated until a specific claim is asserted. Consequently, because no claims have been asserted, no liabilities have been recorded for these obligations on the Company’s consolidated balance sheets for any of the periods presented. In connection with the spin-off in 2019, certain landlords required, in exchange for their consent to the transaction, that the Company's lease guarantees remain in place for a certain period of time following the transaction. These guarantees could result in significant additional liabilities and obligations for the Company if Pennant were to default on their obligations under their leases with respect to these properties. Litigation and Regulatory Matters — Laws and regulations governing Medicare and Medicaid programs are complex and subject to review and interpretation. Compliance with such laws and regulations is evaluated regularly, the results of which can be subject to future governmental review and interpretation, and can include significant regulatory action including fines, penalties, and exclusion from certain governmental programs. Included in these laws and regulations is monitoring performed by the Office of Civil Rights which covers the Health Insurance Portability and Accountability Act of 1996, the terms of which require healthcare providers (among other things) to safeguard the privacy and security of certain patient protected health information. Both government and private pay sources have instituted cost-containment measures designed to limit payments made to providers of healthcare services, and there can be no assurance that future measures designed to limit payments made to providers will not adversely affect us. The Company and its independent subsidiaries are party to various legal actions and administrative proceedings and are subject to various claims arising in the ordinary course of business, including claims that services provided to patients by the Company’s independent subsidiaries have resulted in injury or death, and claims related to employment and commercial matters. For example, in a four-week medical negligence trial in the State of Arizona, the jury returned a verdict against one of the Company’s independent subsidiaries in late November 2023. The Company is in the process of appealing the jury verdict. The Company has in the past appealed similar decisions and has, in some circumstances, received decisions in its favor. Although the Company intends to vigorously defend against these claims and in general these types of claims and cases, there can be no assurance that the outcomes of these matters will not have a material adverse effect on operational results and financial condition. Additionally, in certain states in which the Company has or has had independent subsidiaries, insurance coverage for the risk of punitive damages arising from general and professional liability litigation may not be available due to state law and/or public policy prohibitions. There can be no assurance that the Company or its independent subsidiaries will not be liable for punitive damages awarded in litigation arising in states for which punitive damage insurance coverage is not available. The skilled nursing and post-acute care industry is heavily regulated. As such, the Company and its independent subsidiaries are continuously subject to state and federal regulatory scrutiny, supervision and control in the ordinary course of business. Such regulatory scrutiny often includes inquiries, investigations, examinations, audits, site visits and surveys, some of which are non-routine. In addition to being subject to direct regulatory oversight from state and federal agencies, the skilled nursing and post-acute care industry is also subject to regulatory requirements which, if noncompliance is identified, could result in civil, administrative or criminal fines, penalties or restitutionary relief, and reimbursement; authorities could also seek the suspension or exclusion of the provider or individual from participation in their programs. The Company believes that there has been, and will continue to be, an increase in governmental investigations of post-acute providers, particularly in the area of Medicare/Medicaid false claims, as well as an increase in enforcement actions resulting from these investigations. Adverse determinations in civil legal proceedings or governmental investigations, whether currently asserted or arising in the future, could have a material adverse effect on the Company’s financial position, results of operations, and cash flows. Additionally, such proceedings and/or investigation can be a distraction to the business. For example, in 2020, the U.S. House of Representatives Select Subcommittee on the Coronavirus Crisis launched a nation-wide investigation into the COVID-19 pandemic, which included the impact of the coronavirus on residents and employees in nursing homes. In June 2020, the Company and its independent subsidiaries received a document and information request from the House Select Subcommittee. The Company and its independent subsidiaries cooperated in responding to this inquiry. In July 2022 and thereafter, the Company and its independent subsidiaries received follow up requests for additional documents and information. The Company and its independent subsidiaries responded to these requests and cooperated with the House Select Subcommittee in connection with its investigation. On December 9, 2022, the House Select Subcommittee issued its final report summarizing its investigation and related recommendations designed "to strengthen the nation's ability to prevent and respond to public health and economic emergencies." According to the information provided by the House Select Subcommittee, the issuance of this report was the House Select Subcommittee's final official act in connection with their assigned responsibilities. Also , the Company, on behalf of its independent subsidiaries, received a Civil Investigative Demand (CID) from the U.S. Department of Justice (DOJ) in January of 2024 indicating that the DOJ is investigating the Company to determine whether it has caused the submission of claims to Medicare and Texas Medicaid for services which were unnecessary or otherwise not consistent with existing reimbursement requirements. The CID covers the period from January 1, 2016, to the present. As a general matter, the Company's independent subsidiaries maintain policies and procedures to promote compliance with all applicable Medicare and Medicaid requirements, including but not limited to those relating to the presentation of claims for reimbursement for services provided . The Company is fully cooperating with the DOJ in response to the CID. However, the Company cannot predict the outcome of the investigation or its potential impact on the consolidated financial statements. In addition to the potential lawsuits and claims described above, the Company and its independent subsidiaries are also subject to potential lawsuits under the FCA and comparable state laws alleging submission of fraudulent claims for services to any healthcare program (such as Medicare or Medicaid) or other payor. A violation may provide the basis for exclusion from federally funded healthcare programs. Such exclusions could have a correlative negative impact on the Company’s financial performance. In addition, and pursuant to the qui tam or "whistleblower" provisions of the FCA, a private individual with knowledge of fraud or potential fraud may bring a claim on behalf of the federal government and receive a percentage of the federal government's recovery. Due to these whistleblower incentives, qui tam lawsuits have become more frequent. For example, on May 31, 2018, the Company, on behalf of its independent subsidiaries, received a CID from the DOJ stating that it was investigating to determine whether there had been a violation of the False Claims Act (FCA) and/or the Anti-Kickback Statute (AKS) with respect to the relationships between certain of the Company’s independent subsidiaries and persons who serve or have served as medical directors. The Company fully cooperated with the DOJ and promptly responded to its requests for information. In April 2020, the Company was advised that the DOJ declined to intervene in any subsequent action filed in connection with the subject matter of this investigation. Despite the decision of the DOJ to decline to participate in litigation based on the subject matter of its previously issued CID, the involved qui tam relator moved forward with the complaint in December 2020. From that time until December 2023, and notwithstanding the Company's success in early pre-trial motions, the Company continued to incur legal defense costs and fees, including significant amounts as part of discovery in the fourth quarter of 2023. In early January 2024, the Company entered into mediation with the involved parties and on January 19, 2024, the parties agreed to settle the civil case for $48,000, subject to the review of the DOJ and other relevant government entities. The settlement does not include admissions on the part of the Company or its independent subsidiaries and the Company maintains that it has and continues to comply with all applicable State and Federal statutes (including but not limited to the FCA and the AKS). The settlement documents are in the process of being finalized and, following payment of the settlement funds, the qui tam complaint will be dismissed and the matter will be resolved. In addition to the FCA, some states, including California, Arizona and Texas, have enacted similar whistleblower and false claims laws and regulations. Further, the Deficit Reduction Act of 2005 created incentives for states to enact anti-fraud legislation modeled on the FCA. As such, the Company and its independent subsidiaries could face increased scrutiny, potential liability and legal expenses and costs based on claims under state false claims acts in markets in which its independent subsidiaries do business. Under the Fraud Enforcement and Recovery Act of 2009 (FERA), health care providers face significant penalties for the knowing retention of government overpayments, even if no false claim was involved. Health care providers can now be liable for knowingly and improperly avoiding or decreasing an obligation to pay money or property to the government. This includes the retention of any government overpayment. The government can argue, therefore, that an FCA violation can occur without any affirmative fraudulent action or statement, as long as the action or statement is knowingly improper. In addition, FERA extended protections against retaliation for whistleblowers, including protections not only for employees, but also contractors and agents. Thus, an employment relationship is generally not required in order to qualify for protection against retaliation for whistleblowing. Healthcare litigation (including class action litigation) is common and is filed based upon a wide variety of claims and theories, and the Company's independent subsidiaries are routinely subjected to varying types of claims, including class action "staffing" suits where the allegation is understaffing at the facility level. These class-action “staffing” suits have the potential to result in large jury verdicts and settlements and may result in significant legal costs. The Company expects the plaintiffs' bar to continue to be aggressive in their pursuit of these staffing and similar claims. While the Company has been able to settle these claims without an ongoing material adverse effect on its business, future claims could be brought that may materially affect its business, financial condition and results of operations. Other claims and suits, including class actions, continue to be filed against the Company and other companies in its industry. The Company and its independent subsidiaries have been subjected to, and are currently involved in, class action litigation alleging violations (alone or in combination) of state and federal wage and hour laws as related to the alleged failure to pay wages, to timely provide and authorize meal and rest breaks, and related causes of action. The Company does not believe that the ultimate resolution of these actions will have an ongoing material adverse effect on the Company’s business, cash flows, financial condition or results of operations. The Company and its independent subsidiaries are also subject to requests for information and investigations by other state and federal governmental entities (e.g., Offices of the Attorney General and Offices of the Inspector General). The Company cannot predict or provide any assurance as to the possible outcome of any inquiry, investigation or litigation. If any such inquiry, investigation or litigation were to proceed, and the Company and its independent subsidiaries are subjected to, alleged to be liable for, or agree to a settlement of, claims or obligations under federal Medicare statutes, the FCA, or similar state and federal statutes and related regulations, or if the Company or its independent subsidiaries are alleged or found to be liable on theories of general or professional negligence or wage and hour violations, the Company's business, financial condition and results of operations and cash flows could be materially and adversely affected and its stock price could be adversely impacted. Among other things, any settlement or litigation could involve the payment of substantial sums to settle any alleged violations and may also include the assumption of specific procedural and financial obligations by the Company or its independent subsidiaries under a Corporate Integrity Agreement and/or other such arrangement. Cost-Containment Measures — Both government and private pay sources have instituted cost-containment measures designed to limit payments made to providers of healthcare services, and there can be no assurance that future measures designed to limit payments made to providers will not adversely affect the Company. Medicare Revenue Recoupments — The Company's independent subsidiaries are subject to regulatory reviews relating to the provision of Medicare services, billings and potential overpayments as a result of Recovery Audit Contractors (RAC), Program Safeguard Contractors, and Medicaid Integrity Contractors programs (collectively referred to as Reviews). For several months during the COVID-19 pandemic, the Centers for Medicare and Medicaid Services (CMS) suspended its Targeted Probe and Educate (TPE) Program. Beginning in August 2020, CMS resumed TPE Program activity. If an operation fails a Review and/or subsequent Reviews, the operation could then be subject to extended review or an extrapolation of the identified error rate to billings in the same time period. The Company anticipates that these Reviews could increase in frequency in the future. As of June 30, 2024 and through the filing date of this report, 11 of the Company's independent subsidiaries had Reviews scheduled or in process. In June 2023, CMS announced a new nationwide audit, the “SNF 5-Claim Probe & Educate Review,” in which the Medicare Administrative Contractors (MACs) will review five claims from each SNF to check for compliance. In implementing this SNF 5-Claim Probe & Educate Review, CMS acknowledged that the increase in observed improper payments from 2021 to 2022 may have arisen from a "misunderstanding" by SNFs about how to appropriately bill for claims of service after October 1, 2019. All facilities that are not undergoing TPE reviews, or have not recently passed a TPE review, will be subject to the nationwide audit. MACs will complete only one round of probe-and-educate for each SNF, rather than three rounds that typically occur in the TPE. Additionally, CMS's education for each SNF will be individualized and based on observed claim review errors, with rationales for denial explained to the SNF on a claim-by-claim basis. This program applies only to claims submitted after October 1, 2019, and will exclude claims containing a COVID-19 diagnosis. Concentrations Credit Risk — The Company has significant accounts receivable balances, the collectability of which is dependent on the availability of funds from certain governmental programs, primarily Medicare and Medicaid. These receivables represent the only significant concentration of credit risk for the Company. The Company does not believe there are significant credit risks associated with these governmental programs. The Company believes that an appropriate allowance has been recorded for the possibility of these receivables proving uncollectible, and continually monitors and adjusts these allowances as necessary. The Company’s receivables from Medicare and Medicaid payor programs accounted for 53.0% and 53.4% of its total accounts receivable as of June 30, 2024 and December 31, 2023, respectively. Revenue from reimbursement under the Medicare and Medicaid programs accounted for 71.2% and 71.4% of the Company's revenue for the three and six months ended June 30, 2024, respectively, and 73.1% and 73.2% for the three and six months ended June 30, 2023, respectively.

COMMON STOCK REPURCHASE PROGRAM

COMMON STOCK REPURCHASE PROGRAM	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
COMMON STOCK REPURCHASE PROGRAM	COMMON STOCK REPURCHASE PROGRAM On May 16, 2024, the Board of Directors approved a stock repurchase program pursuant to which the Company may repurchase up to $20,000 of its common stock under the program for a period of approximately 12 months from September 1, 2024. Under this program, the Company is authorized to repurchase its issued and outstanding common shares from time to time in open-market and privately negotiated transactions and block trades in accordance with federal securities laws. The share repurchase program does not obligate the Company to acquire any specific number of shares. On August 29, 2023, the Board of Directors approved a stock repurchase program pursuant to which the Company may repurchase up to $20,000 of its common stock under the program for a period of approximately 12 months from September 1, 2023. Under this program, the Company is authorized to repurchase its issued and outstanding common shares from time to time in open-market and privately negotiated transactions and block trades in accordance with federal securities laws. The share repurchase program does not obligate the Company to acquire any specific number of shares. The Company did not purchase any shares pursuant to this stock repurchase program during the six months ended June 30, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 71,007	$ 68,835	$ 63,993	$ 59,852	$ 139,842	$ 123,845

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Barry R. Port [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Barry R. Port, Chief Executive Officer and Director, entered into a Rule 10b5-1 trading arrangement on May 6, 2024. Mr. Port's 10b5-1 Plan provides for the potential exercise of vested stock options and the associated sale of up to 16,517 shares of the Company's common stock between August 5, 2024 and August 31, 2026.
Name	Barry R. Port
Title	Chief Executive Officer and Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 6, 2024
Arrangement Duration	756 days
Aggregate Available	16,517	16,517
Daren J. Shaw [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Daren J. Shaw, a member of our Board of Directors, entered into a Rule 10b5-1 trading arrangement on May 6, 2024. Mr. Shaw's 10b5-1 Plan provides for the potential sale of up to 8,000 shares of the Company's common stock between August 15, 2024 and May 30, 2025.
Name	Daren J. Shaw
Title	a member of our Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 6, 2024
Arrangement Duration	288 days
Aggregate Available	8,000	8,000
Swati B. Abbott [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Swati B. Abbott, a member of our Board of Directors, entered into a Rule 10b5-1 trading arrangement on June 11, 2024. Ms. Abbott's 10b5-1 Plan provides for the potential sale of up to 1,000 shares of the Company's common stock between September 13, 2024 and June 13, 2025.
Name	Swati B. Abbott
Title	a member of our Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 11, 2024
Arrangement Duration	273 days
Aggregate Available	1,000	1,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation —
Estimates and Assumptions	The preparation of the Interim Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Interim Financial Statements and the reported amounts of revenue and expenses during the reporting periods. The most significant estimates in the Company’s Interim Financial Statements relate to revenue, acquired property and equipment, goodwill, right-of-use assets, impairment of long-lived assets, lease liabilities, general and professional liabilities, workers' compensation and healthcare claims included in accrued self-insurance liabilities and income taxes. Actual results could differ from those estimates. Certain amounts in the prior period condensed balance sheet and statement of income have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported net income or total assets.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements — In October 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-06 "Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative," which amends U.S. GAAP to include 14 disclosure requirements that are currently required under SEC Regulation S-X or Regulation S-K. Each amendment will be effective on the date on which the SEC removes the related disclosure requirement from SEC Regulation S-X or Regulation S-K. The adoption is not expected to have a material impact on the Company's Interim Financial Statements as these requirements were previously incorporated under the SEC Regulations. In November 2023, the FASB issued ASU 2023-07 " Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, " which requires the Company to expand the breadth and frequency of segment disclosures to include additional information about significant segment expenses, the chief operating decision maker (CODM) and other items, and also require the annual disclosures on an interim basis. This guidance is effective for annual periods beginning after December 15, 2023, which will be the Company's fiscal year 2024, and in interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of the ASU on its Quarterly and Annual Reports. In December 2023, the FASB issued ASU 2023-09 " Income Taxes (Topic 740): Improvements to Income Tax Disclosures,

REVENUE AND ACCOUNTS RECEIVAB_2

REVENUE AND ACCOUNTS RECEIVABLE (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Service revenue for the three and six months ended June 30, 2024 and 2023 is summarized in the following tables: Three Months Ended June 30, 2024 2023 Revenue % of Revenue Revenue % of Revenue Medicaid (1)(2) $ 411,760 40.0 % $ 359,781 39.3 % Medicare 258,869 25.1 248,081 27.1 Medicaid — skilled 62,969 6.1 62,015 6.7 Total Medicaid and Medicare 733,598 71.2 669,877 73.1 Managed care 191,022 18.5 161,101 17.6 Private and other (3) 105,954 10.3 85,123 9.3 SERVICE REVENUE $ 1,030,574 100.0 % $ 916,101 100.0 % (1) Medicaid payor includes revenue for senior living operations. (2) Medicaid payor includes revenue related to state relief funding during the three months ended June 30, 2023. (3) Private and other also includes revenue from senior living operations and all revenue generated in other an cillary services. Six Months Ended June 30, 2024 2023 Revenue % of Revenue Revenue % of Revenue Medicaid (1)(2) $ 801,923 39.4 % $ 700,045 38.9 % Medicare 524,452 25.8 495,804 27.6 Medicaid — skilled 126,278 6.2 119,942 6.7 Total Medicaid and Medicare 1,452,653 71.4 1,315,791 73.2 Managed care 379,126 18.6 317,764 17.7 Private and other (3) 203,280 10.0 164,464 9.1 SERVICE REVENUE $ 2,035,059 100.0 % $ 1,798,019 100.0 % (1) Medicaid payor includes revenue for senior living operations. (2) Medicaid payor includes revenue related to state relief funding during the six months ended June 30, 2023. (3) Private and other also includes revenue from senior living operations and all revenue generated in other an cillary services.
Schedule of Accounts Receivable	Accounts receivable as of June 30, 2024 and December 31, 2023, is summarized in the following table: June 30, 2024 December 31, 2023 Medicaid $ 208,584 $ 178,285 Managed care 139,200 125,907 Medicare 86,496 85,512 Private and other payors 122,301 104,683 556,581 494,387 Less: allowance for doubtful accounts (9,460) (9,348) ACCOUNTS RECEIVABLE, NET $ 547,121 $ 485,039

COMPUTATION OF NET INCOME PER_2

COMPUTATION OF NET INCOME PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of the Numerator and Denominator Used in the Calculation of Basic Net Income Per Common Share	A reconciliation of the numerator and denominator used in the calculation of basic net income per common share follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 NUMERATOR: Net income $ 71,181 $ 64,090 $ 140,141 $ 124,059 Less: net income attributable to noncontrolling interests 174 97 299 214 Net income attributable to The Ensign Group, Inc. $ 71,007 $ 63,993 $ 139,842 $ 123,845 DENOMINATOR: Weighted average shares outstanding for basic net income per share 56,544 55,611 56,441 55,456 Basic net income per common share: $ 1.26 $ 1.15 $ 2.48 $ 2.23
Schedule of Reconciliation of the Numerator and Denominator Used in the Calculation of Diluted Net Income Per Common Share	A reconciliation of the numerator and denominator used in the calculation of diluted net income per common share follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 NUMERATOR: Net income $ 71,181 $ 64,090 $ 140,141 $ 124,059 Less: net income attributable to noncontrolling interests 174 97 299 214 Net income attributable to The Ensign Group, Inc. $ 71,007 $ 63,993 $ 139,842 $ 123,845 DENOMINATOR: Weighted average common shares outstanding 56,544 55,611 56,441 55,456 Plus: incremental shares from assumed conversion (1) 1,469 1,649 1,528 1,734 Adjusted weighted average common shares outstanding 58,013 57,260 57,969 57,190 Diluted net income per common share: $ 1.22 $ 1.12 $ 2.41 $ 2.17 (1) Options outstanding which are anti-dilutive and therefore not factored into the weighted average common shares amount above were 1,368 and 1,252 for the three and six months ended June 30, 2024, respectively, and 1,419 and 1,317 for the three and six months ended June 30, 2023, respectivel

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Financial Information	The following tables set forth financial information for the segments: Three Months Ended June 30, 2024 Skilled Services Standard Bearer All Other (1) Intercompany Elimination Total Service revenue (2) $ 991,285 $ — $ 44,340 $ (5,051) $ 1,030,574 Rental revenue (3) — 23,354 2,999 (20,642) 5,711 TOTAL REVENUE $ 991,285 $ 23,354 $ 47,339 $ (25,693) $ 1,036,285 Segment income (loss) 122,185 7,360 (37,481) — 92,064 Income before provision for income taxes $ 92,064 Depreciation and amortization 10,911 7,166 2,411 — 20,488 Interest expense (4) $ — $ 6,699 $ 339 $ (4,998) $ 2,040 (1) All Other primarily includes all ancillary operations, stand-alone senior living operations and the Service Center. (2) Intercompany service revenue represents service revenue generated by ancillary operations provided to the Company's independent subsidiaries and management service revenue generated by the Service Center with Standard Bearer. Intercompany service revenue is eliminated in consolidation along with corresponding intercompany cost of service. (3) All Other rental revenue includes rental revenue associated with the Company's subleases to third parties of $1,089 for the three months ended June 30, 2024. Intercompany rental revenue represents rental income generated by both Standard Bearer and other real estate properties with the Company's independent subsidiaries. Intercompany rental revenue is eliminated in consolidation along with corresponding intercompany rent expense. (4) Included in interest expense in Standard Bearer is interest expense incurred from intercompany debt arrangements between Standard Bearer and The Ensign Group, Inc. Intercompany interest expense is eliminated in the "Intercompany Elimination" column. Three Months Ended June 30, 2023 Skilled Services Standard Bearer All Other (1) Intercompany Elimination Total Service revenue (2) $ 884,200 $ — $ 35,535 $ (3,634) $ 916,101 Rental revenue (3) — 19,914 2,819 (17,489) 5,244 TOTAL REVENUE $ 884,200 $ 19,914 $ 38,354 $ (21,123) $ 921,345 Segment income (loss) 117,008 7,133 (42,988) — 81,153 Loss on insurance recoveries from real estate $ (100) Income before provision for income taxes $ 81,053 Depreciation and amortization 9,417 6,133 2,046 — 17,596 Interest expense (4) $ — $ 4,575 $ 304 $ (2,856) $ 2,023 (1) All Other primarily includes all ancillary operations, stand-alone senior living operations and the Service Center. (2) Intercompany service revenue represents service revenue generated by ancillary operations provided to the Company's affiliated wholly owned healthcare facilities and management service revenue generated by the Service Center with Standard Bearer. Intercompany service revenue is eliminated in consolidation along with corresponding intercompany cost of service. (3) All Other rental revenue includes rental revenue associated with the Company's subleases to third parties of $1,063 for the three months ended June 30, 2023. Intercompany rental revenue represents rental income generated by both Standard Bearer and other real estate properties with the Company's independent subsidiaries. Intercompany rental revenue is eliminated in consolidation along with corresponding intercompany rent expense. (4) Included in interest expense in Standard Bearer is interest expense incurred from intercompany debt arrangements between Standard Bearer and The Ensign Group, Inc. Intercompany interest expense is eliminated in the "Intercompany Elimination" column. Six Months Ended June 30, 2024 Skilled Services Standard Bearer All Other (1) Intercompany Elimination Total Service revenue (2) $ 1,960,887 $ — $ 83,966 $ (9,794) $ 2,035,059 Rental revenue (3) — 45,555 5,945 (40,102) 11,398 TOTAL REVENUE $ 1,960,887 $ 45,555 $ 89,911 $ (49,896) $ 2,046,457 Segment income (loss) 248,994 14,618 (80,101) — 183,511 Impairment of long-lived assets (1,849) Income before provision for income taxes $ 181,662 Depreciation and amortization 21,447 13,995 4,703 — 40,145 Interest expense (4) $ — $ 12,676 $ 611 $ (9,283) $ 4,004 (1) All Other primarily includes all ancillary operations, stand-alone senior living operations and the Service Center. (2) Intercompany service revenue represents service revenue generated by ancillary operations provided to the Company's independent subsidiaries and management service revenue generated by the Service Center with Standard Bearer. Intercompany service revenue is eliminated in consolidation along with corresponding intercompany cost of service. (3) All Other rental revenue includes rental revenue associated with the Company's subleases to third parties of $2,169 for the six months ended June 30, 2024. Intercompany rental revenue represents rental income generated by both Standard Bearer and other real estate properties with the Company's independent subsidiaries. Intercompany rental revenue is eliminated in consolidation along with corresponding intercompany rent expense. (4) Included in interest expense in Standard Bearer is interest expense incurred from intercompany debt arrangements between Standard Bearer and The Ensign Group, Inc. Intercompany interest expense is eliminated in the "Intercompany Elimination" column. Six Months Ended June 30, 2023 Skilled Services Standard Bearer All Other (1) Intercompany Elimination Total Service revenue (2) $ 1,735,123 $ — $ 70,068 $ (7,172) $ 1,798,019 Rental revenue (3) — 39,631 5,382 (34,846) 10,167 TOTAL REVENUE $ 1,735,123 $ 39,631 $ 75,450 $ (42,018) $ 1,808,186 Segment income (loss) 230,353 14,352 (85,170) — 159,535 Loss on insurance recoveries from real estate (100) Income before provision for income taxes $ 159,435 Depreciation and amortization 18,481 12,099 4,128 — 34,708 Interest expense (4) $ — $ 9,144 $ 615 $ (5,700) $ 4,059 (1) All Other primarily includes all ancillary operations, stand-alone senior living operations and the Service Center. (2) Intercompany service revenue represents service revenue generated by ancillary operations provided to the Company's affiliated wholly owned healthcare facilities and management service revenue generated by the Service Center with Standard Bearer. Intercompany service revenue is eliminated in consolidation along with corresponding intercompany cost of service. (3) All Other rental revenue includes rental revenue associated with the Company's subleases to third parties of $1,771 for the six months ended June 30, 2023. Intercompany rental revenue represents rental income generated by both Standard Bearer and other real estate properties with the Company's independent subsidiaries. Intercompany rental revenue is eliminated in consolidation along with corresponding intercompany rent expense. (4) Included in interest expense in Standard Bearer is interest expense incurred from intercompany debt arrangements between Standard Bearer and The Ensign Group, Inc. Intercompany interest expense is eliminated in the "Intercompany Elimination" column.
Schedule of Service Revenue by Major Payor Source	Service revenue by major payor source were as follows: Three Months Ended June 30, 2024 Skilled Services All Other (3) Total Service Revenue Revenue % Medicaid (1) $ 403,127 $ 8,633 $ 411,760 40.0 % Medicare 258,869 — 258,869 25.1 Medicaid-skilled 62,969 — 62,969 6.1 Subtotal 724,965 8,633 733,598 71.2 Managed care 191,022 — 191,022 18.5 Private and other (2) 75,298 30,656 105,954 10.3 TOTAL SERVICE REVENUE $ 991,285 $ 39,289 $ 1,030,574 100.0 % (1) Medicaid payor includes revenue generated from senior living operations. (2) Private and other also includes revenue from senior living operations and all revenue generated in other ancillary services. (3) All Other incorporates intercompany eliminations. Three Months Ended June 30, 2023 Skilled Services All Other (3) Total Service Revenue Revenue % Medicaid (1) $ 352,380 $ 7,401 $ 359,781 39.3 % Medicare 248,081 — 248,081 27.1 Medicaid-skilled 62,015 — 62,015 6.7 Subtotal 662,476 7,401 669,877 73.1 Managed care 161,101 — 161,101 17.6 Private and other (2) 60,623 24,500 85,123 9.3 TOTAL SERVICE REVENUE $ 884,200 $ 31,901 $ 916,101 100.0 % (1) Medicaid payor includes revenue generated from senior living operations and revenue related to state relief funding. (2) Private and other also includes revenue from senior living operations and all revenue generated in other ancillary services. (3) All Other incorporates intercompany eliminations. Six Months Ended June 30, 2024 Skilled Services All Other (3) Total Service Revenue Revenue % Medicaid (1) $ 785,245 $ 16,678 $ 801,923 39.4 % Medicare 524,452 — 524,452 25.8 Medicaid-skilled 126,278 — 126,278 6.2 Subtotal 1,435,975 16,678 1,452,653 71.4 Managed care 379,126 — 379,126 18.6 Private and other (2) 145,786 57,494 203,280 10.0 TOTAL SERVICE REVENUE $ 1,960,887 $ 74,172 $ 2,035,059 100.0 % (1) Medicaid payor includes revenue generated from senior living operations. (2) Private and other payors also includes revenue from senior living operations and all revenue generated in other ancillary services. (3) All Other incorporates intercompany eliminations. Six Months Ended June 30, 2023 Skilled Services All Other (3) Total Service Revenue Revenue % Medicaid (1) $ 685,825 $ 14,220 $ 700,045 38.9 % Medicare 495,804 — 495,804 27.6 Medicaid-skilled 119,942 — 119,942 6.7 Subtotal 1,301,571 14,220 1,315,791 73.2 Managed care 317,764 — 317,764 17.7 Private and other (2) 115,788 48,676 164,464 9.1 TOTAL SERVICE REVENUE $ 1,735,123 $ 62,896 $ 1,798,019 100.0 % (1) Medicaid payor includes revenue generated from senior living operations and revenue related to state relief funding. (2) Private and other payors also includes revenue from senior living operations and all revenue generated in other ancillary services. (3) All Other incorporates intercompany eliminations.

PROPERTY AND EQUIPMENT_ NET (Ta

PROPERTY AND EQUIPMENT— NET (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following: June 30, 2024 December 31, 2023 Land $ 157,147 $ 142,656 Buildings and improvements 858,472 803,155 Leasehold improvements 185,060 172,064 Equipment 366,891 339,383 Furniture and fixtures 4,241 4,192 Construction in progress 37,623 25,563 1,609,434 1,487,013 Less: accumulated depreciation (431,612) (396,242) PROPERTY AND EQUIPMENT, NET $ 1,177,822 $ 1,090,771

INTANGIBLE ASSETS _ NET (Tables

INTANGIBLE ASSETS — NET (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	June 30, 2024 December 31, 2023 Weighted Average Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Intangible Assets Net Net Assembled occupancy 0.4 $ 1,158 $ (955) $ 203 $ 781 $ (742) $ 39 Facility trade name 30.0 733 (452) 281 733 (439) 294 Customer relationships 18.4 4,582 (2,797) 1,785 4,582 (2,692) 1,890 TOTAL $ 6,473 $ (4,204) $ 2,269 $ 6,096 $ (3,873) $ 2,223
Schedule of Estimated Amortization Expense	Estimated amortization expense for each of the years ending December 31 is as follows: Year Amount 2024 (remainder) $ 320 2025 234 2026 234 2027 234 2028 234 2029 234 Thereafter 779 $ 2,269
Schedule of Indefinite-lived Intangible Assets	Other indefinite-lived intangible assets consist of the following: June 30, 2024 December 31, 2023 Trade name $ 889 $ 889 Medicare and Medicaid licenses 3,545 3,413 TOTAL $ 4,434 $ 4,302

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table represents activity in goodwill by the skilled services segment and "all other" category as of and for the six months ended June 30, 2024: Goodwill Skilled Services All Other Total January 1, 2024 $ 67,886 $ 8,983 $ 76,869 Additions — 372 372 June 30, 2024 $ 67,886 $ 9,355 $ 77,241

RESTRICTED AND OTHER ASSETS (Ta

RESTRICTED AND OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Restricted and Other Assets	Restricted and other assets consist of the following: June 30, 2024 December 31, 2023 Debt issuance costs, net $ 2,439 $ 2,883 Long-term insurance losses recoverable asset 15,626 15,913 Capital improvement reserves with landlords and lenders 5,376 4,870 Deposits with landlords 2,690 2,661 Escrow deposits 646 1,216 Other 11,774 12,662 RESTRICTED AND OTHER ASSETS $ 38,551 $ 40,205

OTHER ACCRUED LIABILITIES (Tabl

OTHER ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of Other Accrued Liabilities	Other accrued liabilities consist of the following: June 30, 2024 December 31, 2023 Quality assurance fee $ 14,490 $ 14,035 Refunds payable 56,809 51,248 Resident advances 7,152 10,834 Cash held in trust for patients 6,222 6,215 Dividends payable 3,424 3,396 Property taxes 9,825 12,875 Accrued litigation (Note 20) 48,000 51,734 Other 18,718 17,891 OTHER ACCRUED LIABILITIES $ 164,640 $ 168,228

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Debt consists of the following: June 30, 2024 December 31, 2023 Mortgage loans and promissory note $ 150,430 $ 152,388 Less: current maturities (4,017) (3,950) Less: debt issuance costs, net (2,854) (2,941) LONG-TERM DEBT LESS CURRENT MATURITIES $ 143,559 $ 145,497

OPTIONS AND AWARDS (Tables)

OPTIONS AND AWARDS (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Assumptions for Stock Options Granted	The Company used the following assumptions for stock options granted during the three months ended June 30, 2024 and 2023: Grant Year Options Granted Weighted Average Risk-Free Rate Expected Life Weighted Average Volatility Weighted Average Dividend Yield 2024 173 4.4% 6.1 years 40.6% 0.2% 2023 191 3.7% 6.3 years 41.4% 0.3% The Company used the following assumptions for stock options granted during the six months ended June 30, 2024 and 2023: Grant Year Options Granted Weighted Average Risk-Free Rate Expected Life Weighted Average Volatility Weighted Average Dividend Yield 2024 354 4.4% 6.1 years 40.8% 0.2% 2023 413 3.9% 6.3 years 41.5% 0.3%
Schedule of Exercise Price and Fair Value Displayed at Grant Date for Stock Option Grants	For the six months ended June 30, 2024 and 2023, the following represents the exercise price and fair value displayed at grant date for stock option grants: Grant Year Granted Weighted Average Exercise Price Weighted Average Fair Value of Options 2024 354 $ 120.98 $ 55.39 2023 413 $ 90.31 $ 41.46
Schedule of Employee Stock Option Roll Forward	The following table represents the employee stock option activity during the six months ended June 30, 2024: Number of Options Outstanding Weighted Average Number of Weighted Average Exercise Price of Options Vested January 1, 2024 3,991 $ 62.65 1,887 $ 39.58 Granted 354 120.98 Forfeited (42) 82.22 Exercised (336) 30.75 June 30, 2024 3,967 $ 70.34 1,881 $ 46.34
Schedule of Aggregate Intrinsic Value of Options	The aggregate intrinsic value of options outstanding, vested, expected to vest and exercised as of June 30, 2024 and December 31, 2023 is as follows: Options June 30, 2024 December 31, 2023 Outstanding $ 211,650 $ 197,819 Vested 145,531 137,048 Expected to vest 61,779 56,759
Schedule of Nonvested Restricted Stock Awards	A summary of the status of the Company's non-vested restricted stock awards as of June 30, 2024 and changes during the six months ended June 30, 2024 is presented below: Non-Vested Restricted Awards Weighted Average Grant Date Fair Value Nonvested at January 1, 2024 431 $ 78.91 Granted 137 119.44 Vested (147) 88.54 Forfeited (11) 80.17 Nonvested at June 30, 2024 410 $ 88.91
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense recognized for the Company's equity incentive plans and long-term incentive plan for the three and six months ended June 30, 2024 and 2023 was as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock-based compensation expense related to stock options $ 5,518 $ 4,963 $ 10,506 $ 8,388 Stock-based compensation expense related to restricted stock awards 2,936 3,481 5,663 6,209 Stock-based compensation expense related to restricted stock awards to non-employee directors 524 437 1,040 857 TOTAL $ 8,978 $ 8,881 $ 17,209 $ 15,454

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Operating Lease Expenses	The components of operating lease expense are as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Rent - cost of services (1) $ 53,272 $ 49,760 $ 105,148 $ 96,397 General and administrative expense 181 125 334 249 Depreciation and amortization (2) 303 298 606 596 Variable lease costs (3) 5,649 5,154 11,419 9,986 $ 59,405 $ 55,337 $ 117,507 $ 107,228 (1) Rent - cost of services includes deferred rent expense adju stments of $190 and $385 for the three and six months ended June 30, 2024, respectively, and $218 and $481 for the three and six months ended June 30, 2023, respectively. Additionally, rent - cost of services includes other variable lease costs such as CPI increases and short-term leases of $3,300 and $6,357 for the three and six months ended June 30, 2024, respectively, and $2,398 and $4,458 for the three and six months ended June 30, 2023, respectively. (2) Depreciation and amortization is related to the amortization of favorable and direct lease costs. (3) Variable lease costs, including property taxes and insurance, are classified in cost of services in the Company's condensed consolidated statements of income.
Schedule of Future Minimum Lease Payments	Future minimum lease payments for all third-party leases as of June 30, 2024 are as follows: Year Amount 2024 (remainder) $ 100,614 2025 201,246 2026 201,024 2027 200,353 2028 199,265 2029 195,553 Thereafter 1,691,806 TOTAL LEASE PAYMENTS 2,789,861 Less: present value adjustment (980,435) PRESENT VALUE OF TOTAL LEASE LIABILITIES 1,809,426 Less: current lease liabilities (89,176) LONG-TERM OPERATING LEASE LIABILITIES $ 1,720,250
Schedule of Rental Income from Third-Party Sources	Total rental income from all third-party sources for the three and six months ended June 30, 2024 and 2023 is as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Pennant (1) $ 3,824 $ 3,742 $ 7,644 $ 7,484 Other third-party (2) 1,887 1,502 3,754 2,683 TOTAL $ 5,711 $ 5,244 $ 11,398 $ 10,167 (1) Pennant rental income includes variable rent such as property taxes of $314 and $632 during the three and six months ended June 30, 2024 and $325 and $650 for the three and six months ended June 30, 2023, respectively. (2) Other third-party includes rental revenue associated with the Company's subleases to third parties of $1,089 and $2,169 for the three and six months ended June 30, 2024, and $1,063 and
Schedule of Annual Rental Income	Future annual rental income for all third-party leases as of June 30, 2024 were as follows: Year Amount (1) 2024 (remainder) $ 10,844 2025 21,427 2026 21,216 2027 21,216 2028 21,216 2029 21,216 Thereafter 109,635 TOTAL $ 226,770

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details)	Jun. 30, 2024 property operation facility bed senior_living_unit	Jun. 30, 2023 bed
Real Estate Properties [Line Items]
Health care facilities	312
Operational skilled nursing beds | bed	31,800
Operational senior living units | senior_living_unit	3,300
Number of real estate properties leased	222
Number of real estate properties leased with an option to purchase	12
Number of real estate properties | property	120
Standard Bearer Healthcare REIT, Inc.
Real Estate Properties [Line Items]
Number of real estate properties | property	115
Third Party Operators | Standard Bearer Healthcare REIT, Inc.
Real Estate Properties [Line Items]
Number of real estate properties | operation	30
Number of real estate operations operated by third parties | operation	30
Captive Insurance Subsidiary
Real Estate Properties [Line Items]
Operational skilled nursing beds | bed	1,369	1,764
Operational senior living units | senior_living_unit	202
Number of senior living operations sharing property with skilled nursing operations | operation	1
Owned Properties
Real Estate Properties [Line Items]
Number of facilities	90
Owned Properties | Standard Bearer Healthcare REIT, Inc.
Real Estate Properties [Line Items]
Number of real estate properties | property	86

REVENUE AND ACCOUNTS RECEIVAB_3

REVENUE AND ACCOUNTS RECEIVABLE - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 1,036,285,000	$ 921,345,000	$ 2,046,457,000	$ 1,808,186,000
Stat relief funding received	0	17,580,000	0	44,844,000
Stat relief funding recognized as revenue		18,453,000		44,811,000
Service revenue
Disaggregation of Revenue [Line Items]
Revenue	1,030,574,000	916,101,000	2,035,059,000	1,798,019,000
Rental revenue
Disaggregation of Revenue [Line Items]
Revenue	5,711,000	5,244,000	11,398,000	10,167,000
Total Medicare and Medicaid | Service revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 733,598,000	$ 669,877,000	$ 1,452,653,000	$ 1,315,791,000
Revenue | Customer Concentration Risk | Service revenue
Disaggregation of Revenue [Line Items]
% of Revenue	100%	100%	100%	100%
Revenue | Customer Concentration Risk | Total Medicare and Medicaid | Service revenue
Disaggregation of Revenue [Line Items]
% of Revenue	71.20%	73.10%	71.40%	73.20%

REVENUE AND ACCOUNTS RECEIVAB_4

REVENUE AND ACCOUNTS RECEIVABLE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 1,036,285	$ 921,345	$ 2,046,457	$ 1,808,186
Service revenue
Disaggregation of Revenue [Line Items]
Revenue	1,030,574	916,101	2,035,059	1,798,019
Service revenue | Total Medicaid and Medicare
Disaggregation of Revenue [Line Items]
Revenue	733,598	669,877	1,452,653	1,315,791
Service revenue | Medicaid
Disaggregation of Revenue [Line Items]
Revenue	411,760	359,781	801,923	700,045
Service revenue | Medicare
Disaggregation of Revenue [Line Items]
Revenue	258,869	248,081	524,452	495,804
Service revenue | Medicaid — skilled
Disaggregation of Revenue [Line Items]
Revenue	62,969	62,015	126,278	119,942
Service revenue | Managed care
Disaggregation of Revenue [Line Items]
Revenue	191,022	161,101	379,126	317,764
Service revenue | Private and other
Disaggregation of Revenue [Line Items]
Revenue	$ 105,954	$ 85,123	$ 203,280	$ 164,464
Service revenue | Revenue | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
% of Revenue	100%	100%	100%	100%
Service revenue | Revenue | Customer Concentration Risk | Total Medicaid and Medicare
Disaggregation of Revenue [Line Items]
% of Revenue	71.20%	73.10%	71.40%	73.20%
Service revenue | Revenue | Customer Concentration Risk | Medicaid
Disaggregation of Revenue [Line Items]
% of Revenue	40%	39.30%	39.40%	38.90%
Service revenue | Revenue | Customer Concentration Risk | Medicare
Disaggregation of Revenue [Line Items]
% of Revenue	25.10%	27.10%	25.80%	27.60%
Service revenue | Revenue | Customer Concentration Risk | Medicaid — skilled
Disaggregation of Revenue [Line Items]
% of Revenue	6.10%	6.70%	6.20%	6.70%
Service revenue | Revenue | Customer Concentration Risk | Managed care
Disaggregation of Revenue [Line Items]
% of Revenue	18.50%	17.60%	18.60%	17.70%
Service revenue | Revenue | Customer Concentration Risk | Private and other
Disaggregation of Revenue [Line Items]
% of Revenue	10.30%	9.30%	10%	9.10%

REVENUE AND ACCOUNTS RECEIVAB_5

REVENUE AND ACCOUNTS RECEIVABLE - Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 556,581	$ 494,387
Less: allowance for doubtful accounts	(9,460)	(9,348)
ACCOUNTS RECEIVABLE, NET	547,121	485,039
Medicaid
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	208,584	178,285
Managed care
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	139,200	125,907
Medicare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	86,496	85,512
Private and other payors
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 122,301	$ 104,683

COMPUTATION OF NET INCOME PER_3

COMPUTATION OF NET INCOME PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
NUMERATOR:
Net income	$ 71,181		$ 64,090		$ 140,141	$ 124,059
Less: net income attributable to noncontrolling interests	174		97		299	214
Net income attributable to The Ensign Group, Inc.	$ 71,007	$ 68,835	$ 63,993	$ 59,852	$ 139,842	$ 123,845
DENOMINATOR:
Weighted average shares outstanding for basic net income per share (in shares)	56,544		55,611		56,441	55,456
Plus: incremental shares from assumed conversion (in shares)	1,469		1,649		1,528	1,734
Adjusted weighted average common shares outstanding (in shares)	58,013		57,260		57,969	57,190
Basic net income per common share (in dollars per share)	$ 1.26		$ 1.15		$ 2.48	$ 2.23
Diluted net income per common share (in dollars per share)	$ 1.22		$ 1.12		$ 2.41	$ 2.17
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1,368		1,419		1,252	1,317

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Fair Value, Inputs, Level 2 - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred rent receivable	$ 51,941	$ 41,216
Captive Insurance Subsidiary
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Insurance subsidiary deposits and investments	$ 63,826	$ 59,530

STANDARD BEARER (Details)

STANDARD BEARER (Details) $ in Thousands	3 Months Ended		6 Months Ended										12 Months Ended
	Jun. 30, 2024 USD ($) operation property renewal subsidiary shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2024 operation property renewal subsidiary	Jun. 30, 2024 operation property renewal subsidiary	Jun. 30, 2024 operation property skilledNursingOperation renewal subsidiary	Jun. 30, 2024 operation property campusOperation renewal subsidiary	Jun. 30, 2024 USD ($) operation property renewal subsidiary	Jun. 30, 2024 operation property lease renewal subsidiary	Jun. 30, 2024 operation property renewal subsidiary	Jun. 30, 2024 operation property renewal subsidiary shares	Jun. 30, 2024 operation property acuteCareHospital renewal subsidiary	Jun. 30, 2023 USD ($) skilledNursingOperation shares	Dec. 31, 2022
Segment Reporting Information [Line Items]
Number of real estate properties | property	120		120	120	120	120	120	120	120	120	120
Number of master lease arrangements | lease								6
Granted (in shares)	173,000	191,000								354,000		413,000
Restricted Stock Awards
Segment Reporting Information [Line Items]
Award vesting period			5 years
Granted restricted shares (in shares)	42,000	61,000								137,000		166,000
Standard Bearer Equity Plan
Segment Reporting Information [Line Items]
Award vesting period													5 years
Threshold event period after vesting of restricted awards or exercise of stock options													6 months
Granted (in shares)										0		0
Standard Bearer Equity Plan | Restricted Stock Awards
Segment Reporting Information [Line Items]
Granted restricted shares (in shares)										0		0
Standard Bearer Master Leases
Segment Reporting Information [Line Items]
Rental revenue | $	$ 19,156	$ 16,128					$ 37,162					$ 32,059
Minimum | Revolving credit facility with Truist | Truist | Base Rate
Segment Reporting Information [Line Items]
Interest rate margin									0.25%
Minimum | Revolving credit facility with Truist | Truist | Secured Overnight Financing Rate (SOFR)
Segment Reporting Information [Line Items]
Interest rate margin									1.25%
Maximum | Revolving credit facility with Truist | Truist | Base Rate
Segment Reporting Information [Line Items]
Interest rate margin									1.25%
Maximum | Revolving credit facility with Truist | Truist | Secured Overnight Financing Rate (SOFR)
Segment Reporting Information [Line Items]
Interest rate margin									2.25%
Standard Bearer Master Leases
Segment Reporting Information [Line Items]
Lessee leasing arrangements, operating leases, number of renewal terms | renewal	3		3	3	3	3	3	3	3	3	3
Extended lease term	5 years		5 years	5 years	5 years	5 years	5 years	5 years	5 years	5 years	5 years
Operating leases of lessee, contingent rentals, basis spread on variable rate	2.50%		2.50%	2.50%	2.50%	2.50%	2.50%	2.50%	2.50%	2.50%	2.50%
Standard Bearer Master Leases | Base Management Fee
Segment Reporting Information [Line Items]
Management fees, as a percentage of total revenues									5%
Management fees | $	$ 1,401	$ 1,195					$ 2,733					$ 2,377
Standard Bearer Master Leases | Incentive Management Fee
Segment Reporting Information [Line Items]
Management fees, as a percentage of total revenues									1%
Management fees, as a percentage of funds from operations									5%
Standard Bearer Master Leases | Total Management Fee
Segment Reporting Information [Line Items]
Management fees, as a percentage of total revenues									6%
Standard Bearer Master Leases | Minimum
Segment Reporting Information [Line Items]
Lease term	15 years		15 years	15 years	15 years	15 years	15 years	15 years	15 years	15 years	15 years
Operating leases of lessee, contingent rentals, basis spread on variable rate	0%		0%	0%	0%	0%	0%	0%	0%	0%	0%
Standard Bearer Master Leases | Maximum
Segment Reporting Information [Line Items]
Lease term	19 years		19 years	19 years	19 years	19 years	19 years	19 years	19 years	19 years	19 years
Owned Properties
Segment Reporting Information [Line Items]
Number of real estate properties acquired					13	2					1	19
Captive Insurance Subsidiary
Segment Reporting Information [Line Items]
Number of senior living operations sharing property with skilled nursing operations | operation	1		1	1	1	1	1	1	1	1	1
Standard Bearer Healthcare REIT, Inc.
Segment Reporting Information [Line Items]
Number of real estate properties | property	115		115	115	115	115	115	115	115	115	115
Standard Bearer Healthcare REIT, Inc. | Owned Properties
Segment Reporting Information [Line Items]
Number of real estate properties acquired				7	5	2
Asset acquisition, purchase price | $							$ 63,412
Standard Bearer Healthcare REIT, Inc. | Third Party Operators
Segment Reporting Information [Line Items]
Number of real estate properties | operation	30		30	30	30	30	30	30	30	30	30
Number of real estate operations operated by third parties | operation	30		30	30	30	30	30	30	30	30	30
Standard Bearer Healthcare REIT, Inc. | Captive Insurance Subsidiary | Owned Properties
Segment Reporting Information [Line Items]
Number of operating subsidiaries | subsidiary	7		7	7	7	7	7	7	7	7	7
Standard Bearer Healthcare REIT, Inc. | Owned Properties
Segment Reporting Information [Line Items]
Number of real estate properties | property	86		86	86	86	86	86	86	86	86	86

OPERATION EXPANSIONS (Details)

OPERATION EXPANSIONS (Details)	6 Months Ended
	Jun. 30, 2024 bed senior_living_unit skilledNursingOperation	Jun. 30, 2024 bed campusOperation senior_living_unit	Jun. 30, 2024 bed senior_living_unit acuteCareHospital	Jun. 30, 2024 bed senior_living_unit operation	Jun. 30, 2023 bed skilledNursingOperation
Business Acquisition [Line Items]
Operational skilled nursing beds	31,800	31,800	31,800	31,800
Operational senior living units | senior_living_unit	3,300	3,300	3,300	3,300
Captive Insurance Subsidiary
Business Acquisition [Line Items]
Operational skilled nursing beds	1,369	1,369	1,369	1,369	1,764
Operational senior living units | senior_living_unit	202	202	202	202
Long-term acute care beds included within operational skilled nursing beds	43	43	43	43
Owned Properties
Business Acquisition [Line Items]
Number of real estate properties acquired	13	2	1		19
Owned Properties | Standard Bearer Healthcare REIT, Inc.
Business Acquisition [Line Items]
Number of real estate properties acquired	5	2		7

BUSINESS SEGMENTS - Narrative (

BUSINESS SEGMENTS - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 operation property segment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Number of skilled service nursing operations	272
Number of skilled service campus operations	29
Number of real estate properties | property	120
Senior living facilities	11
Standard Bearer Healthcare REIT, Inc.
Segment Reporting Information [Line Items]
Number of real estate properties | property	115

BUSINESS SEGMENTS - Schedule of

BUSINESS SEGMENTS - Schedule of Segment Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
TOTAL REVENUE	$ 1,036,285	$ 921,345	$ 2,046,457	$ 1,808,186
Segment income (loss)	92,064	81,153	183,511	159,535
Loss on insurance recoveries from real estate		(100)		(100)
Impairment of long-lived assets			(1,849)	0
Income before provision for income taxes	92,064	81,053	181,662	159,435
Depreciation and amortization	20,488	17,596	40,145	34,708
Interest expense	2,040	2,023	4,004	4,059
Service revenue
Segment Reporting Information [Line Items]
TOTAL REVENUE	1,030,574	916,101	2,035,059	1,798,019
Rental revenue
Segment Reporting Information [Line Items]
TOTAL REVENUE	5,711	5,244	11,398	10,167
Operating Segments | Skilled Services
Segment Reporting Information [Line Items]
TOTAL REVENUE	991,285	884,200	1,960,887	1,735,123
Segment income (loss)	122,185	117,008	248,994	230,353
Depreciation and amortization	10,911	9,417	21,447	18,481
Interest expense	0	0	0	0
Operating Segments | Skilled Services | Service revenue
Segment Reporting Information [Line Items]
TOTAL REVENUE	991,285	884,200	1,960,887	1,735,123
Operating Segments | Skilled Services | Rental revenue
Segment Reporting Information [Line Items]
TOTAL REVENUE	0	0	0	0
Operating Segments | Standard Bearer
Segment Reporting Information [Line Items]
TOTAL REVENUE	23,354	19,914	45,555	39,631
Segment income (loss)	7,360	7,133	14,618	14,352
Depreciation and amortization	7,166	6,133	13,995	12,099
Interest expense	6,699	4,575	12,676	9,144
Operating Segments | Standard Bearer | Service revenue
Segment Reporting Information [Line Items]
TOTAL REVENUE	0	0	0	0
Operating Segments | Standard Bearer | Rental revenue
Segment Reporting Information [Line Items]
TOTAL REVENUE	23,354	19,914	45,555	39,631
Operating Segments | All Other
Segment Reporting Information [Line Items]
TOTAL REVENUE	47,339	38,354	89,911	75,450
Segment income (loss)	(37,481)	(42,988)	(80,101)	(85,170)
Depreciation and amortization	2,411	2,046	4,703	4,128
Interest expense	339	304	611	615
Operating Segments | All Other | Service revenue
Segment Reporting Information [Line Items]
TOTAL REVENUE	44,340	35,535	83,966	70,068
Operating Segments | All Other | Rental revenue
Segment Reporting Information [Line Items]
TOTAL REVENUE	2,999	2,819	5,945	5,382
Sublease income	1,089	1,063	2,169	1,771
Intercompany Elimination
Segment Reporting Information [Line Items]
TOTAL REVENUE	(25,693)	(21,123)	(49,896)	(42,018)
Segment income (loss)	0	0	0	0
Depreciation and amortization	0	0	0	0
Interest expense	(4,998)	(2,856)	(9,283)	(5,700)
Intercompany Elimination | Service revenue
Segment Reporting Information [Line Items]
TOTAL REVENUE	(5,051)	(3,634)	(9,794)	(7,172)
Intercompany Elimination | Rental revenue
Segment Reporting Information [Line Items]
TOTAL REVENUE	$ (20,642)	$ (17,489)	$ (40,102)	$ (34,846)

BUSINESS SEGMENTS - Schedule _2

BUSINESS SEGMENTS - Schedule of Service Revenue by Major Payor Source (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 1,036,285	$ 921,345	$ 2,046,457	$ 1,808,186
Operating Segments | Skilled Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	991,285	884,200	1,960,887	1,735,123
Service revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 1,030,574	$ 916,101	$ 2,035,059	$ 1,798,019
Service revenue | Revenue | Customer Concentration Risk
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue %	100%	100%	100%	100%
Service revenue | Operating Segments | Skilled Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 991,285	$ 884,200	$ 1,960,887	$ 1,735,123
Service revenue | All Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	39,289	31,901	74,172	62,896
Service revenue | Total Medicaid and Medicare
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 733,598	$ 669,877	$ 1,452,653	$ 1,315,791
Service revenue | Total Medicaid and Medicare | Revenue | Customer Concentration Risk
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue %	71.20%	73.10%	71.40%	73.20%
Service revenue | Total Medicaid and Medicare | Operating Segments | Skilled Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 724,965	$ 662,476	$ 1,435,975	$ 1,301,571
Service revenue | Total Medicaid and Medicare | All Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	8,633	7,401	16,678	14,220
Service revenue | Medicaid
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 411,760	$ 359,781	$ 801,923	$ 700,045
Service revenue | Medicaid | Revenue | Customer Concentration Risk
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue %	40%	39.30%	39.40%	38.90%
Service revenue | Medicaid | Operating Segments | Skilled Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 403,127	$ 352,380	$ 785,245	$ 685,825
Service revenue | Medicaid | All Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	8,633	7,401	16,678	14,220
Service revenue | Medicare
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 258,869	$ 248,081	$ 524,452	$ 495,804
Service revenue | Medicare | Revenue | Customer Concentration Risk
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue %	25.10%	27.10%	25.80%	27.60%
Service revenue | Medicare | Operating Segments | Skilled Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 258,869	$ 248,081	$ 524,452	$ 495,804
Service revenue | Medicare | All Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	0	0	0	0
Service revenue | Medicaid-skilled
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 62,969	$ 62,015	$ 126,278	$ 119,942
Service revenue | Medicaid-skilled | Revenue | Customer Concentration Risk
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue %	6.10%	6.70%	6.20%	6.70%
Service revenue | Medicaid-skilled | Operating Segments | Skilled Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 62,969	$ 62,015	$ 126,278	$ 119,942
Service revenue | Medicaid-skilled | All Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	0	0	0	0
Service revenue | Managed care
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 191,022	$ 161,101	$ 379,126	$ 317,764
Service revenue | Managed care | Revenue | Customer Concentration Risk
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue %	18.50%	17.60%	18.60%	17.70%
Service revenue | Managed care | Operating Segments | Skilled Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 191,022	$ 161,101	$ 379,126	$ 317,764
Service revenue | Managed care | All Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	0	0	0	0
Service revenue | Private and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 105,954	$ 85,123	$ 203,280	$ 164,464
Service revenue | Private and other | Revenue | Customer Concentration Risk
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue %	10.30%	9.30%	10%	9.10%
Service revenue | Private and other | Operating Segments | Skilled Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 75,298	$ 60,623	$ 145,786	$ 115,788
Service revenue | Private and other | All Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Service Revenue	$ 30,656	$ 24,500	$ 57,494	$ 48,676

PROPERTY AND EQUIPMENT_ NET (De

PROPERTY AND EQUIPMENT— NET (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,609,434	$ 1,487,013
Less: accumulated depreciation	(431,612)	(396,242)
PROPERTY AND EQUIPMENT, NET	1,177,822	1,090,771
Land
Property, Plant and Equipment [Line Items]
Property and equipment	157,147	142,656
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment	858,472	803,155
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	185,060	172,064
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment	366,891	339,383
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	4,241	4,192
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment	$ 37,623	$ 25,563

PROPERTY AND EQUIPMENT_ NET - N

PROPERTY AND EQUIPMENT— NET - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Impairment of long lived assets	$ 0	$ 0	$ 1,849,000	$ 0

INTANGIBLE ASSETS _ NET - Sched

INTANGIBLE ASSETS — NET - Schedule of Finite Lived Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 6,473	$ 6,096
Accumulated Amortization	(4,204)	(3,873)
Net	$ 2,269	2,223
Assembled occupancy
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	4 months 24 days
Gross Carrying Amount	$ 1,158	781
Accumulated Amortization	(955)	(742)
Net	$ 203	39
Facility trade name
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	30 years
Gross Carrying Amount	$ 733	733
Accumulated Amortization	(452)	(439)
Net	$ 281	294
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	18 years 4 months 24 days
Gross Carrying Amount	$ 4,582	4,582
Accumulated Amortization	(2,797)	(2,692)
Net	$ 1,785	$ 1,890

INTANGIBLE ASSETS _ NET - Narra

INTANGIBLE ASSETS — NET - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 536	$ 357	$ 937	$ 761
Depreciation and Amortization
Finite-Lived Intangible Assets [Line Items]
Operating lease expense	$ 303	$ 298	$ 606	$ 596

INTANGIBLE ASSETS _ NET - Futur

INTANGIBLE ASSETS — NET - Future Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (remainder)	$ 320
2025	234
2026	234
2027	234
2028	234
2029	234
Thereafter	779
Net	$ 2,269	$ 2,223

INTANGIBLE ASSETS _ NET - Sch_2

INTANGIBLE ASSETS — NET - Schedule of Indefinite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Indefinite-lived Intangible Assets [Line Items]
Other indefinite-lived intangibles	$ 4,434	$ 4,302
Trade name
Indefinite-lived Intangible Assets [Line Items]
Other indefinite-lived intangibles	889	889
Medicare and Medicaid licenses
Indefinite-lived Intangible Assets [Line Items]
Other indefinite-lived intangibles	$ 3,545	$ 3,413

GOODWILL (Details)

GOODWILL (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 76,869
Additions	372
Goodwill, ending balance	77,241
Operating Segments | Skilled Services
Goodwill [Roll Forward]
Goodwill, beginning balance	67,886
Additions	0
Goodwill, ending balance	67,886
All Other
Goodwill [Roll Forward]
Goodwill, beginning balance	8,983
Additions	372
Goodwill, ending balance	$ 9,355

RESTRICTED AND OTHER ASSETS (De

RESTRICTED AND OTHER ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Debt issuance costs, net	$ 2,439	$ 2,883
Long-term insurance losses recoverable asset	15,626	15,913
Capital improvement reserves with landlords and lenders	5,376	4,870
Deposits with landlords	2,690	2,661
Escrow deposits	646	1,216
Other	11,774	12,662
RESTRICTED AND OTHER ASSETS	$ 38,551	$ 40,205

OTHER ACCRUED LIABILITIES (Deta

OTHER ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Payables and Accruals [Abstract]
Quality assurance fee	$ 14,490	$ 14,035
Refunds payable	56,809	51,248
Resident advances	7,152	10,834
Cash held in trust for patients	6,222	6,215
Dividends payable	3,424	3,396	$ 3,231
Property taxes	9,825	12,875
Accrued litigation (Note 20)	48,000	51,734
Other	18,718	17,891
OTHER ACCRUED LIABILITIES	$ 164,640	$ 168,228

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 20,883	$ 16,963	$ 41,521	$ 35,376
Effective income tax rate			22.90%	22.20%

DEBT - Schedule of Long-term De

DEBT - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Less: current maturities	$ (4,017)	$ (3,950)
Less: debt issuance costs, net	(2,854)	(2,941)
LONG-TERM DEBT LESS CURRENT MATURITIES	143,559	145,497
Mortgage loans and promissory note
Debt Instrument [Line Items]
Mortgage loans and promissory note	$ 150,430	$ 152,388

DEBT - Credit Facility with a L

DEBT - Credit Facility with a Lending Consortium Arranged by Truist (Details) - Revolving credit facility with Truist - Truist	6 Months Ended
	Jun. 30, 2024 USD ($)
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600,000,000
Total net debt ratio, maximum	3.75
Long-term debt threshold for EBITDA ratio increase election period	6 months
Long-term debt, threshold for EBITDA ratio increase election	$ 50,000,000
Total net debt ratio, maximum after increase election	4.25
Total net debt ratio, minimum	1.50
Outstanding debt	$ 0
Minimum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.20%
Maximum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.40%
Base Rate | Minimum
Debt Instrument [Line Items]
Interest rate margin	0.25%
Base Rate | Maximum
Debt Instrument [Line Items]
Interest rate margin	1.25%
Secured Overnight Financing Rate (SOFR) | Minimum
Debt Instrument [Line Items]
Interest rate margin	1.25%
Secured Overnight Financing Rate (SOFR) | Maximum
Debt Instrument [Line Items]
Interest rate margin	2.25%

DEBT - Mortgage Loans and Promi

DEBT - Mortgage Loans and Promissory Notes and Off-Balance Sheet Arrangements (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) subsidiary	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding, pledged amount	$ 26,895
Letter of Credit
Debt Instrument [Line Items]
Letter of credit increase	20,640
Mortgage loans and promissory note
Debt Instrument [Line Items]
Outstanding debt	$ 150,430	$ 152,388
Mortgage loans and promissory note | HUD Insured Mortgages | First Three Years
Debt Instrument [Line Items]
Prepayment penalty	10%
Mortgage loans and promissory note | HUD Insured Mortgages | In The Fourth Year
Debt Instrument [Line Items]
Reduction in prepayment penalty	3%
Mortgage loans and promissory note | HUD Insured Mortgages | Years Five Through Ten
Debt Instrument [Line Items]
Reduction in prepayment penalty	1%
Mortgage loans and promissory note | HUD Insured Mortgages | After Year Ten
Debt Instrument [Line Items]
Prepayment penalty	0%
Mortgage loans and promissory note | HUD Insured Mortgages | Minimum
Debt Instrument [Line Items]
Debt instrument, interest rate, effective percentage	3.10%
Debt instrument, interest rate, stated percentage	2.40%
Debt instrument, term	25 years
Mortgage loans and promissory note | HUD Insured Mortgages | Maximum
Debt Instrument [Line Items]
Debt instrument, interest rate, effective percentage	4.20%
Debt instrument, interest rate, stated percentage	3.30%
Debt instrument, term	35 years
Mortgage loans and promissory note | HUD Insured Mortgages | Twenty Three Subsidiaries
Debt Instrument [Line Items]
Number of operating subsidiaries | subsidiary	23
Outstanding debt	$ 148,583
Mortgage loans and promissory note | 5.3% Promissory Note
Debt Instrument [Line Items]
Outstanding debt	$ 1,847
Debt instrument, interest rate, stated percentage	5.30%
Debt instrument, term	12 years

OPTIONS AND AWARDS - Stock Opti

OPTIONS AND AWARDS - Stock Options, Narrative (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) installment plan $ / shares shares	Jun. 30, 2023 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans | plan	1
Grant date intrinsic value (in dollars per share) | $ / shares	$ 0	$ 0
Intrinsic value of options exercised in period | $	$ 29,894	$ 29,741
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of options that vested in period | $	$ 18,073	$ 13,639
2022 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) | shares	3,452
Conversion to reduce shares availability	1
Other than options, conversion to reduce shares availability	2
Award vesting period	5 years
Award vesting rights, percentage	20%
Expiration period	10 years
Number of shares available for grant (in shares) | shares	860
2022 Plan | Non-employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of installments | installment	3
Award requisite service period	3 years

OPTIONS AND AWARDS - Valuation

OPTIONS AND AWARDS - Valuation Assumptions (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Options Granted (in shares)	173	191	354	413
Weighted Average Risk-Free Rate	4.40%	3.70%	4.40%	3.90%
Expected Life	6 years 1 month 6 days	6 years 3 months 18 days	6 years 1 month 6 days	6 years 3 months 18 days
Weighted Average Volatility	40.60%	41.40%	40.80%	41.50%
Weighted Average Dividend Yield	0.20%	0.30%	0.20%	0.30%

OPTIONS AND AWARDS - Exercise P

OPTIONS AND AWARDS - Exercise Price and Fair Value (Details) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Granted (in shares)	173	191	354	413
Weighted Average Exercise Price (in dollars per share)			$ 120.98	$ 90.31
Weighted Average Fair Value of Options (in dollars per share)			$ 55.39	$ 41.46

OPTIONS AND AWARDS - Options Ou

OPTIONS AND AWARDS - Options Outstanding Rollforward (Details) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Number of Options Outstanding
Balance at beginning of period, (in shares)			3,991
Granted (in shares)	173	191	354	413
Forfeited (in shares)			(42)
Exercised (in shares)			(336)
Balance at end of period, (in shares)	3,967		3,967
Weighted Average Exercise Price
Balance at beginning of period (in dollars per share)			$ 62.65
Granted (in dollars per share)			120.98	$ 90.31
Forfeited (in dollars per share)			82.22
Exercised (in dollars per share)			30.75
Balance at end of period (in dollars per share)	$ 70.34		$ 70.34
Number of Options Vested (in shares)	1,881		1,881		1,887
Weighted Average Exercise Price of Options Vested (in dollars per share)	$ 46.34		$ 46.34		$ 39.58

OPTIONS AND AWARDS - Intrinsic

OPTIONS AND AWARDS - Intrinsic Values (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Outstanding	$ 211,650	$ 197,819
Vested	145,531	137,048
Expected to vest	$ 61,779	$ 56,759

OPTIONS AND AWARDS - Restricted

OPTIONS AND AWARDS - Restricted Stock Awards, Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, restricted awards, exercise price (in dollars per share)			$ 0
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	42	61	137	166
Award vesting period			5 years
Granted (in dollars per share)			$ 119.44
Annual bonuses, included in equity instruments other than options, grants in period			$ 6,165	$ 5,068
Restricted Stock Awards | Non-employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	5		9
Restricted Stock Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)			$ 116.65	$ 89.83
Restricted Stock Awards | Minimum | Non-employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)			116.65
Restricted Stock Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)			122.69	$ 98.31
Restricted Stock Awards | Maximum | Non-employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)			$ 118.69

OPTIONS AND AWARDS - Restrict_2

OPTIONS AND AWARDS - Restricted Award Rollforward (Details) - Restricted Stock Awards - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Non-Vested Restricted Awards
Nonvested at beginning of period (in shares)			431
Granted (in shares)	42	61	137	166
Vested (in shares)			(147)
Forfeited (in shares)			(11)
Nonvested at end of period (in shares)	410		410
Weighted Average Grant Date Fair Value
Nonvested at beginning of period (in dollars per share)			$ 78.91
Granted (in dollars per share)			119.44
Vested (in dollars per share)			88.54
Forfeited (in dollars per share)			80.17
Nonvested at end of period (in dollars per share)	$ 88.91		$ 88.91

OPTIONS AND AWARDS - Long-Term

OPTIONS AND AWARDS - Long-Term Incentive Plan, Narrative (Details) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
	Aug. 27, 2019	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation		$ 8,978	$ 8,881	$ 17,209	$ 15,454
Spinoff | 2019 LTI Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	500
Award vesting period	5 years
Award vesting rights, percentage	20%
Share-based compensation		$ 208	$ 211	$ 414	$ 402

OPTIONS AND AWARDS - Compensati

OPTIONS AND AWARDS - Compensation Expense (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense related to stock options	$ 8,978	$ 8,881	$ 17,209	$ 15,454
Share-based compensation, options outstanding, weighted average remaining contractual term			6 years 9 months 18 days
Stock-based compensation expense related to stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense related to stock options	5,518	4,963	$ 10,506	8,388
Share-based compensation, nonvested awards, cost not yet recognized	$ 75,356		$ 75,356
Share-based compensation, nonvested awards, cost not yet recognized, period for recognition			3 years 10 months 24 days
Share-based compensation, nonvested awards (in shares)	2,086		2,086
Share-based compensation, options expected to vest, number (in shares)	1,916		1,916
Stock-based compensation expense related to restricted stock awards
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense related to stock options	$ 2,936	3,481	$ 5,663	6,209
Share-based compensation, nonvested awards, cost not yet recognized	31,859		$ 31,859
Share-based compensation, nonvested awards, cost not yet recognized, period for recognition			3 years 7 months 6 days
Stock-based compensation expense related to restricted stock awards to non-employee directors
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense related to stock options	$ 524	$ 437	$ 1,040	$ 857

LEASES - Lessee Narrative (Deta

LEASES - Lessee Narrative (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2024 USD ($) subsidiary facility renewal agreement	Mar. 31, 2024 USD ($) agreement operation	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) subsidiary facility renewal agreement lease	Jun. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease, weighted average remaining lease term	14 years 10 months 24 days			14 years 10 months 24 days
Operating lease, weighted average discount rate, percent	6.40%			6.40%
Net of lease liability	$ 1,809,426			$ 1,809,426
Amended Master Lease Agreement
Lessee, Lease, Description [Line Items]
Increase in lease liabilities		$ 30,980
Right-of-use assets		$ 30,980
Term of operating lease		20 years
Amended Master Lease Agreement | Skilled Nursing Operations
Lessee, Lease, Description [Line Items]
Number of real estate properties acquired | operation		2
CareTrust REIT
Lessee, Lease, Description [Line Items]
Skilled nursing, assisted living and independent living facilities | facility	99			99
Consumer price index	0%			0%
Operating leases of lessee, contingent rentals, basis spread on variable rate	2.50%			2.50%
Number of stand-alone leases | lease				1
Rent expense	$ 17,272		$ 16,674	$ 34,072	$ 32,957
CareTrust REIT | Triple Net Lease Arrangements
Lessee, Lease, Description [Line Items]
Skilled nursing, assisted living and independent living facilities | facility	98			98
Master lease agreements | agreement	9			9
Extended lease term	5 years			5 years
CareTrust REIT | Triple Net Lease Arrangements | Minimum
Lessee, Lease, Description [Line Items]
Lease term	13 years			13 years
Lessee leasing arrangements, operating leases, number of renewal terms | renewal	2			2
CareTrust REIT | Triple Net Lease Arrangements | Maximum
Lessee, Lease, Description [Line Items]
Lease term	20 years			20 years
Lessee leasing arrangements, operating leases, number of renewal terms | renewal	3			3
CareTrust REIT | Purchase Option
Lessee, Lease, Description [Line Items]
Skilled nursing, assisted living and independent living facilities | facility	4			4
CareTrust REIT | New Master Lease Agreeement
Lessee, Lease, Description [Line Items]
Master lease agreements | agreement		1
Number of real estate properties acquired | operation		2
Lessee, operating lease, term extension		20 years
Increase in lease liabilities		$ 48,112
Right-of-use assets		$ 48,112
Various Landlords
Lessee, Lease, Description [Line Items]
Master lease agreements | agreement	13			13
Subsidiaries under master lease arrangement | subsidiary	82			82
Various Landlords | Minimum
Lessee, Lease, Description [Line Items]
Lease term	5 years			5 years
Various Landlords | Minimum | Equipment
Lessee, Lease, Description [Line Items]
Lease term	3 years			3 years
Various Landlords | Maximum
Lessee, Lease, Description [Line Items]
Lease term	20 years			20 years
Various Landlords | Maximum | Equipment
Lessee, Lease, Description [Line Items]
Lease term	5 years			5 years
Various Landlords | Amended Master Lease Agreement
Lessee, Lease, Description [Line Items]
Master lease agreements | agreement		1

LEASES - Lessee Lease Cost (Det

LEASES - Lessee Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Variable lease, costs	$ 5,649	$ 5,154	$ 11,419	$ 9,986
Lease, cost	59,405	55,337	117,507	107,228
Amortization of deferred rent	190	218	385	481
Rent - cost of services
Lessee, Lease, Description [Line Items]
Operating lease expense	53,272	49,760	105,148	96,397
CPI increases and short term-lease cost	3,300	2,398	6,357	4,458
General and administrative expense
Lessee, Lease, Description [Line Items]
Operating lease expense	181	125	334	249
Depreciation and amortization
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 303	$ 298	$ 606	$ 596

LEASES - Lessee Future Minimum

LEASES - Lessee Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Year
2024 (remainder)	$ 100,614
2025	201,246
2026	201,024
2027	200,353
2028	199,265
2029	195,553
Thereafter	1,691,806
TOTAL LEASE PAYMENTS	2,789,861
Less: present value adjustment	(980,435)
PRESENT VALUE OF TOTAL LEASE LIABILITIES	1,809,426
Less: current lease liabilities	(89,176)	$ (82,526)
LONG-TERM OPERATING LEASE LIABILITIES	$ 1,720,250	$ 1,639,326

LEASES - Lessor Narrative (Deta

LEASES - Lessor Narrative (Details)	3 Months Ended
	Mar. 31, 2023 lease	Jun. 30, 2024 seniorLivingOperation
Leases To Third Party Operators | Minimum
Lessor, Lease, Description [Line Items]
Term of operating lease		14 years
Leases To Third Party Operators | Maximum
Lessor, Lease, Description [Line Items]
Term of operating lease		16 years
Leases To Third Party Operators | The Pennant Group, Inc.
Lessor, Lease, Description [Line Items]
Number of senior living operations leased | seniorLivingOperation		29
Sublease Of Stand Along Skilled Nursing Operations
Lessor, Lease, Description [Line Items]
Term of operating lease	18 years
Number of leases | lease	3

LEASES - Lessor Rental Income (

LEASES - Lessor Rental Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lessor, Lease, Description [Line Items]
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	TOTAL REVENUE	TOTAL REVENUE	TOTAL REVENUE	TOTAL REVENUE
Operating Segments | Rental revenue | All Other
Lessor, Lease, Description [Line Items]
Sublease income	$ 1,089	$ 1,063	$ 2,169	$ 1,771
Leases To Third Party Operators
Lessor, Lease, Description [Line Items]
Rental revenue	5,711	5,244	11,398	10,167
The Pennant Group, Inc. | Leases To Third Party Operators
Lessor, Lease, Description [Line Items]
Rental revenue	3,824	3,742	7,644	7,484
Operating lease, variable lease income	314	325	632	650
Other third-party | Leases To Third Party Operators
Lessor, Lease, Description [Line Items]
Rental revenue	$ 1,887	$ 1,502	$ 3,754	$ 2,683

LEASES - Lessor Future Minimum

LEASES - Lessor Future Minimum Lease Payments Receivable (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Leases [Abstract]
2024 (remainder)	$ 10,844
2025	21,427
2026	21,216
2027	21,216
2028	21,216
2029	21,216
Thereafter	109,635
TOTAL	$ 226,770

DEFINED CONTRIBUTION PLANS (Det

DEFINED CONTRIBUTION PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Defined Contribution Plan Disclosure [Line Items]
Deferred compensation liability, noncurrent	$ 55,041		$ 55,041		$ 49,201
Gain (loss) on deferral investment	527	$ 1,250	2,921	$ 2,489
Offsetting expense (income)	$ 628	$ 1,332	$ 3,116	$ 2,612
Qualified Plan
Defined Contribution Plan Disclosure [Line Items]
Maximum annual contributions per employee			90%
Nonqualified Plan
Defined Contribution Plan Disclosure [Line Items]
Maximum annual contributions per employee			100%

SELF INSURANCE LIABILITIES (Det

SELF INSURANCE LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Long-term insurance losses recoverable asset	$ 15,626	$ 15,913
General and Professional Liability
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Malpractice loss contingency, accrual, undiscounted	123,278	105,729
Workers' Compensation
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	31,585	29,454
Health
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	14,702	$ 14,814
Workers' Compensation
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	625
Workers' Compensation | Texas
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	750
Self-Insurance Retention Per Claim | General Liability
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	500
Loss-Sensitive Limit Per Claim | Workers' Compensation | Other States, Except California, Texas and Washington
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	350
Stop-Loss Insurance Limit Per Claim | Health Liability Insurance
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	525
Parent Company | Self-Insurance Retention Per Claim | General Liability | California
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	750
Parent Company | Self-Insurance Retention Per Claim | General Liability | Non-california
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	650
Parent Company | Aggregate Deductible | General Liability | California
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	1,500
Parent Company | Aggregate Deductible | General Liability | Non-california
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	1,400
Third-Party Payor | Per Occurence | General Liability | All States Except Colorado
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	1,000
Third-Party Payor | Per Occurence | General Liability | Colorado
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	1,000
Third-Party Payor | Per Facility | General Liability | All States Except Colorado
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	3,000
Third-Party Payor | Per Facility | General Liability | Colorado
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	3,000
Third-Party Payor | Blanket Aggregate | General Liability | All States Except Colorado
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Self insurance reserve	$ 10,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 19, 2024 USD ($)	Jun. 30, 2024 subsidiary	Jun. 30, 2023 claim	Jun. 30, 2024 subsidiary	Jun. 30, 2023 claim	Dec. 31, 2023
Concentration Risk [Line Items]
Litigation settlement, amount awarded to other party | $	$ 48,000
Facilities under medicare probe reviews | subsidiary		11		11
Number of claims from each SNF reviewed by CMS in compliance audit | claim			5		5
Accounts Receivable | Customer Concentration Risk | Total Medicaid and Medicare
Concentration Risk [Line Items]
Concentration percentage				53%		53.40%
Revenue | Customer Concentration Risk | Service revenue
Concentration Risk [Line Items]
Concentration percentage		100%	100%	100%	100%
Revenue | Customer Concentration Risk | Total Medicaid and Medicare | Service revenue
Concentration Risk [Line Items]
Concentration percentage		71.20%	73.10%	71.40%	73.20%

COMMON STOCK REPURCHASE PROGR_2

COMMON STOCK REPURCHASE PROGRAM (Details) - USD ($)			6 Months Ended
	May 16, 2024	Aug. 29, 2023	Jun. 30, 2024
May 2024 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 20,000,000
Stock repurchase program, period in force	12 months
August 2023 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount		$ 20,000,000
Stock repurchase program, period in force		12 months
Repurchase of common stock (in shares)			0