Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 04, 2016 | Jun. 30, 2015 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | AMED | ||
Entity Registrant Name | AMEDISYS INC | ||
Entity Central Index Key | 896,262 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 33,329,102 | ||
Entity Public Float | $ 679,670,884 | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Well-known Seasoned Issuer | Yes |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $ 27,502 | $ 8,032 |
Patient accounts receivable, net of allowance for doubtful accounts of $16,526, and $14,317 | 125,010 | 99,325 |
Prepaid expenses | 8,110 | 8,493 |
Other current assets | 14,641 | 19,708 |
Total current assets | 175,263 | 135,558 |
Property and equipment, net of accumulated depreciation of $141,793 and $146,438 | 42,695 | 137,455 |
Goodwill | 261,663 | 205,587 |
Intangible assets, net of accumulated amortization of $25,386 and $25,374 | 44,047 | 33,193 |
Deferred income taxes | 125,245 | 124,788 |
Other assets, net | 36,172 | 33,161 |
Total assets | 685,085 | 669,742 |
Current liabilities: | ||
Accounts payable | 25,682 | 16,056 |
Payroll and employee benefits | 72,546 | 75,553 |
Accrued expenses | 71,965 | 56,329 |
Current portion of long-term obligations | 5,000 | 12,000 |
Current portion of deferred income taxes | 0 | 2,385 |
Total current liabilities | 175,193 | 162,323 |
Long-term obligations, less current portion | 95,000 | 104,372 |
Other long-term obligations | 4,456 | 5,285 |
Total liabilities | 274,649 | 271,980 |
Commitments and Contingencies - Note 10 | 0 | 0 |
Equity: | ||
Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued or outstanding | 0 | 0 |
Common Stock, $0.001 par value, 60,000,000 shares authorized; 34,786,966, and 34,569,526 shares issued; and 33,607,282 and 33,594,572 shares outstanding | 35 | 35 |
Additional paid-in capital | 504,290 | 481,762 |
Treasury Stock at cost 1,179,684, and 974,954 shares of common stock | (26,966) | (19,860) |
Accumulated other comprehensive income | 15 | 15 |
Retained earnings | (67,806) | (64,785) |
Total Amedisys, Inc. stockholders' equity | 409,568 | 397,167 |
Noncontrolling interests | 868 | 595 |
Total equity | 410,436 | 397,762 |
Total liabilities and equity | $ 685,085 | $ 669,742 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Patient accounts receivable, allowance for doubtful accounts | $ 16,526 | $ 14,317 |
Property and equipment, accumulated depreciation | 141,793 | 146,438 |
Intangible assets, accumulated amortization | $ 25,386 | $ 25,374 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common Stock, par value | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 60,000,000 | 60,000,000 |
Common Stock, shares issued | 34,786,966 | 34,569,526 |
Common Stock, shares outstanding | 33,607,282 | 33,594,572 |
Treasury Stock at cost, shares | 1,179,684 | 974,954 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net service revenue | $ 1,280,541 | $ 1,204,554 | $ 1,249,344 |
Cost of service, excluding depreciation and amortization | 725,915 | 691,061 | 717,996 |
General and administrative expenses: | |||
Salaries and benefits | 279,425 | 292,497 | 302,564 |
Non-cash compensation | 11,824 | 5,597 | 6,519 |
Other | 161,186 | 143,644 | 164,991 |
Provision for doubtful accounts | 14,053 | 16,294 | 15,882 |
Depreciation and amortization | 20,036 | 28,307 | 36,871 |
U.S. Department of Justice settlement | 0 | 0 | 150,000 |
Asset impairment charge | 77,268 | 3,107 | 9,492 |
Operating expenses | 1,289,707 | 1,180,507 | 1,404,315 |
Operating (loss) income | (9,166) | 24,047 | (154,971) |
Other income (expense): | |||
Interest income | 71 | 94 | 54 |
Interest expense | (10,783) | (8,217) | (4,412) |
Equity in earnings from equity method investments | 9,823 | 2,991 | 1,520 |
Miscellaneous, net | 9,747 | 2,061 | 4,334 |
Total other income (expense), net | 8,858 | (3,071) | 1,496 |
(Loss) income before income taxes | (308) | 20,976 | (153,475) |
Income tax (expense) benefit | (2,004) | (7,671) | 58,773 |
(Loss) income from continuing operations | (2,312) | 13,305 | (94,702) |
Discontinued operations, net of tax | 0 | (216) | (3,073) |
Net (loss) income | (2,312) | 13,089 | (97,775) |
Net loss (income) attributable to noncontrolling interests | (709) | (313) | 1,597 |
Net (loss) income attributable to Amedisys, Inc. | $ (3,021) | $ 12,776 | $ (96,178) |
Basic earnings per common share: | |||
(Loss) income from continuing operations attributable to Amedisys, Inc. common stockholders | $ (0.09) | $ 0.40 | $ (2.98) |
Discontinued operations, net of tax | 0 | (0.01) | (0.10) |
(Loss) income attributable to Amedisys, Inc. common stockholders | $ (0.09) | $ 0.39 | $ (3.08) |
Weighted average shares outstanding | 33,018 | 32,301 | 31,247 |
Diluted earnings per common share: | |||
(Loss) income from continuing operations attributable to Amedisys, Inc. common stockholders | $ (0.09) | $ 0.40 | $ (2.98) |
Discontinued operations, net of tax | 0 | (0.01) | (0.10) |
(Loss) income attributable to Amedisys, Inc. common stockholders | $ (0.09) | $ 0.39 | $ (3.08) |
Weighted average shares outstanding | 33,018 | 32,823 | 31,247 |
Amounts attributable to Amedisys, Inc. common stockholders: | |||
(Loss) income from continuing operations | $ (3,021) | $ 12,992 | $ (93,105) |
Discontinued operations, net of tax | 0 | (216) | (3,073) |
Net (loss) income attributable to Amedisys, Inc. | $ (3,021) | $ 12,776 | $ (96,178) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Other Comprehensive Income [Abstract] | |||
Net (loss) income | $ (2,312) | $ 13,089 | $ (97,775) |
Other comprehensive income | |||
Other comprehensive income (loss) | 0 | 0 | 0 |
Comprehensive (loss) income | (2,312) | 13,089 | (97,775) |
Net loss (income) attributable to noncontrolling interests | (709) | (313) | 1,597 |
Comprehensive (loss) income attributable to Amedisys, Inc. | $ (3,021) | $ 12,776 | $ (96,178) |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] |
Balance, Stockholders Equity at Dec. 31, 2012 | $ 454,233 | $ 32 | $ 450,792 | $ (17,116) | $ 15 | $ 18,617 | $ 1,893 |
Balance (in shares) at Dec. 31, 2012 | 31,876,508 | ||||||
Issuance of stock - employee stock purchase plan | 3,181 | $ 0 | 3,181 | 0 | 0 | 0 | 0 |
Issuance of stock - employee stock purchase plan (in shares) | 303,989 | ||||||
Issuance of stock - 401 (k) plan | 8,581 | $ 1 | 8,580 | 0 | 0 | 0 | 0 |
Issuance of stock - 401 (k) plan (in shares) | 702,391 | ||||||
Exercise of stock options | 261 | $ 0 | 261 | 0 | 0 | 0 | 0 |
Exercise of stock options (in shares) | 37,558 | ||||||
Issuance/(cancellation) of non-vested stock | 0 | $ 0 | 0 | 0 | 0 | 0 | 0 |
Issuance/(cancellation) of non-vested stock (in shares) | 493,524 | ||||||
Non-cash compensation | 6,519 | $ 0 | 6,519 | 0 | 0 | 0 | 0 |
Tax deficit from stock options exercised and restricted stock vesting | (2,152) | 0 | (2,152) | 0 | 0 | 0 | 0 |
Surrendered shares | (1,060) | 0 | 0 | (1,060) | 0 | 0 | 0 |
Acquired noncontrolling interest | 145 | 0 | 0 | 0 | 0 | 0 | 145 |
Noncontrolling interest distribution | (163) | 0 | 0 | 0 | 0 | 0 | (163) |
Assets contributed to equity investment | 709 | 0 | 709 | 0 | 0 | 0 | 0 |
Net (loss) income | (97,775) | 0 | 0 | 0 | 0 | (96,178) | (1,597) |
Other comprehensive income (loss) | 0 | ||||||
Balance, Stockholders Equity at Dec. 31, 2013 | 372,479 | $ 33 | 467,890 | (18,176) | 15 | (77,561) | 278 |
Balance (in shares) at Dec. 31, 2013 | 33,413,970 | ||||||
Issuance of stock - employee stock purchase plan | 2,433 | $ 0 | 2,433 | 0 | 0 | 0 | 0 |
Issuance of stock - employee stock purchase plan (in shares) | 176,796 | ||||||
Issuance of stock - 401 (k) plan | 7,062 | $ 1 | 7,061 | 0 | 0 | 0 | 0 |
Issuance of stock - 401 (k) plan (in shares) | 430,919 | ||||||
Exercise of stock options | 564 | $ 0 | 564 | 0 | 0 | 0 | 0 |
Exercise of stock options (in shares) | 28,229 | ||||||
Issuance/(cancellation) of non-vested stock | 0 | $ 1 | (1) | 0 | 0 | 0 | 0 |
Issuance/(cancellation) of non-vested stock (in shares) | 519,612 | ||||||
Non-cash compensation | 5,597 | $ 0 | 5,597 | 0 | 0 | 0 | 0 |
Tax deficit from stock options exercised and restricted stock vesting | (579) | 0 | (579) | 0 | 0 | 0 | 0 |
Surrendered shares | (1,684) | 0 | 0 | (1,684) | 0 | 0 | 0 |
Acquired noncontrolling interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Sale of noncontrolling interest | (1,549) | 0 | (493) | 0 | 0 | 0 | (1,056) |
Decrease in noncontrolling interest | (350) | 0 | 710 | 0 | 0 | 0 | (1,060) |
Net (loss) income | 13,089 | 0 | 0 | 0 | 0 | 12,776 | 313 |
Other comprehensive income (loss) | 0 | ||||||
Balance, Stockholders Equity at Dec. 31, 2014 | 397,762 | $ 35 | 481,762 | (19,860) | 15 | (64,785) | 595 |
Balance (in shares) at Dec. 31, 2014 | 34,569,526 | ||||||
Issuance of stock - employee stock purchase plan | $ 2,204 | $ 0 | 2,204 | 0 | 0 | 0 | 0 |
Issuance of stock - employee stock purchase plan (in shares) | 2,977,712 | 79,323 | |||||
Issuance of stock - 401 (k) plan | $ 6,032 | $ 0 | 6,032 | 0 | 0 | 0 | 0 |
Issuance of stock - 401 (k) plan (in shares) | 184,412 | ||||||
Exercise of stock options | 399 | $ 0 | 399 | 0 | 0 | 0 | 0 |
Exercise of stock options (in shares) | 15,380 | ||||||
Issuance/(cancellation) of non-vested stock | 0 | $ 0 | 0 | 0 | 0 | 0 | 0 |
Issuance/(cancellation) of non-vested stock (in shares) | (61,675) | ||||||
Non-cash compensation | 11,824 | $ 0 | 11,824 | 0 | 0 | 0 | 0 |
Tax benefit from stock options exercised and restricted stock vesting | 2,073 | 0 | 2,073 | 0 | 0 | 0 | 0 |
Tax deficit from stock options exercised and restricted stock vesting | (4) | 0 | (4) | 0 | 0 | 0 | 0 |
Surrendered shares | (2,525) | 0 | 0 | (2,525) | 0 | 0 | 0 |
Shares repurchased | (4,581) | 0 | 0 | (4,581) | 0 | 0 | 0 |
Noncontrolling interest distribution | (436) | 0 | 0 | 0 | 0 | 0 | (436) |
Net (loss) income | (2,312) | 0 | 0 | 0 | 0 | (3,021) | 709 |
Other comprehensive income (loss) | 0 | ||||||
Balance, Stockholders Equity at Dec. 31, 2015 | $ 410,436 | $ 35 | $ 504,290 | $ (26,966) | $ 15 | $ (67,806) | $ 868 |
Balance (in shares) at Dec. 31, 2015 | 34,786,966 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash Flows from Operating Activities: | |||
Net (loss) income | $ (2,312) | $ 13,089 | $ (97,775) |
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 20,036 | 28,347 | 37,383 |
Provision for doubtful accounts | 14,053 | 16,369 | 16,461 |
Non-cash compensation | 11,824 | 5,597 | 6,519 |
401(k) employer match | 6,089 | 6,216 | 7,998 |
Loss on disposal of property and equipment | 775 | 4,592 | 2,742 |
Gain on sale of care centers | (184) | (2,967) | (1,752) |
Deferred income taxes | (677) | 22,561 | (57,095) |
Write off of deferred debt issuance costs/debt discount | 2,512 | 488 | 121 |
Equity in earnings from equity method investments | (9,823) | (2,991) | (1,520) |
Amortization of deferred debt issuance costs/debt discount | 959 | 797 | 699 |
Return on equity investment | 5,610 | 2,025 | 1,650 |
Asset impairment charge | 77,268 | 3,107 | 9,492 |
Changes in operating assets and liabilities, net of impact of acquisitions: | |||
Patient accounts receivable | (36,493) | (5,290) | 41,578 |
Other current assets | 6,455 | (6,269) | (501) |
Other assets | (3,523) | 1,694 | (1,596) |
Accounts payable | 7,639 | (3,168) | (9,876) |
U.S. Department of Justice settlement | 0 | (150,000) | 150,000 |
Accrued expenses | 8,406 | 3,495 | (6,104) |
Other long-term obligations | (829) | (3,226) | 3,839 |
Net cash provided by (used in) operating activities | 107,785 | (65,534) | 102,263 |
Cash Flows from Investing Activities: | |||
Proceeds from sale of deferred compensation plan assets | 1,229 | 11 | 128 |
Proceeds from the sale of property and equipment | 20,000 | 3 | 1,809 |
Purchases of deferred compensation plan assets | (19) | (132) | (111) |
Purchases of property and equipment | (21,429) | (12,008) | (41,736) |
Purchase of investments | (3,485) | (6,407) | (10,067) |
Proceeds from sale of investment | 5,000 | 0 | 0 |
Acquisitions of businesses, net of cash acquired | (69,130) | 0 | (1,627) |
Proceeds from disposition of care centers | 413 | 4,233 | 5,146 |
Net cash used in investing activities | (67,421) | (14,300) | (46,458) |
Cash Flows from Financing Activities: | |||
Proceeds from issuance of stock upon exercise of stock options and warrants | 399 | 564 | 261 |
Proceeds from issuance of stock to employee stock purchase plan | 2,204 | 2,433 | 3,181 |
Tax benefit from stock options exercised and restricted stock vesting | 2,073 | 0 | 57 |
Non-controlling interest distribution | (436) | 0 | (163) |
Proceeds from revolving line of credit | 63,400 | 241,800 | 25,500 |
Repayments of revolving line of credit | (78,400) | (226,800) | (25,500) |
Proceeds from issuance of long-term obligations | 100,000 | 68,250 | 0 |
Debt issuance costs | (2,553) | (1,780) | (576) |
Principal payments of long-term obligations | (103,000) | (13,904) | (55,807) |
Purchase of company stock | (4,581) | 0 | 0 |
Net cash (used in) provided by financing activities | (20,894) | 70,563 | (53,047) |
Net increase (decrease) in cash and cash equivalents | 19,470 | (9,271) | 2,758 |
Cash and cash equivalents at beginning of period | 8,032 | 17,303 | 14,545 |
Cash and cash equivalents at end of period | 27,502 | 8,032 | 17,303 |
Supplemental Disclosures of Cash Flow Information: | |||
Cash paid for interest | 6,175 | 7,602 | 3,990 |
Cash paid for income taxes, net of refunds received | (12,185) | (1,766) | 3,385 |
Supplemental Disclosures of Non-Cash Financing and Investing Activities | |||
(Sale) acquistion of noncontrolling interests | $ 0 | $ (1,549) | $ 145 |
NATURE OF OPERATIONS, CONSOLIDA
NATURE OF OPERATIONS, CONSOLIDATION AND PRESENTATION OF FINANCIAL STATEMENTS | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS, CONSOLIDATION AND PRESENTATION OF FINANCIAL STATEMENTS | 1 . NATURE OF OPERATIONS , CONSOLIDATION AND PRESENTATION OF FINANCIAL STATEMENTS Amedisys, Inc., a Delaware corporation, and its consolidated subsidiaries (“Amedisys,” “we,” “us,” or “our”) are a multi-state provider of home health and hospice services with approximately 80% , 82% and 84% of our revenue derived from Medicare for 2015 , 2014 and 2013 , respectively . As of December 31, 2015 , we owned and operated 329 Medicare-certified home health care centers and 79 Medicare-certified hospice care centers in 34 states within the United States and the District of Columbia . Use of Estimates Our accounting and reporting policies conform with U.S. G enerally Accepted Accounting Principles (“U.S. G AAP ”) . In preparing the consolidated financial statements, we are required to make estimates and assumptions that impact the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Reclassifications and Comparability Certain reclassifications have been made to prior periods' financial statements in order to conform to the current period' s presentation . Our exit activity during the last three years may affect the comparability of our operating results . I n accordance with applicable accounting guidance , the results of operations for the care centers closed, sold or classified as held for sale during 2013 are presented in discontinued operations in our consolidated financial statements. See Note 4 – Discontinued Operations and Assets Held for Sale for additional information regarding our discontinued operations. Principles of Consolidation These consolidated financial statements include the accounts of Amedisys, Inc. , and our wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in our accompanying consolidated financial statements, and business combinations accounted for as purchases have been included in our consolidated financial statements from their respective dates of acquisition. In addition to our wholly owned subsidiaries, we also have certain equity investments that are accounted for as set forth below . Equity Investments We consolidate investments when the entity is a variable interest entity and we are the primary beneficiary or if we have controlling interests in the entity, which is generally ownership in excess of 50 %. During 2013, we recorded a $1.3 million goodwill impairment charge related to an investment that was consolidated . Third party equity interests in our consolidated joint ventures are reflected as noncontrolling interests in our consolidated financial statements. We account for investments in entities in which we have the ability to exercise significant influence under the equity method if we hold 50 % or less of the voting stock and the entity is not a variable interest entity in which we are the primary beneficiary. The book value of investments that we accounted for under the equity method of accounting was $ 25.7 million as of December 31 , 2015 and $ 18.8 m illion as of December 31, 2014 . During 2015, our investment in the Heritage Healthcare Innovation Fund, LP (“Heritage”), one of our equity method investees with a carrying value of $19.9 million as of December 31, 2015, became a significant subsidiary. Summarized financial information of Heritage as of and for the twelve-month period ended September 30, 2015, is as follows: current assets of $3.5 million, total assets of $170.4 million, current and total liabilities of less than $0.1 million, total investment income of $72.5 million, total expenses of $3.5 million and net increase in partners' capital from operations of $69.0 million. We record our share of the investment on a one quarter lag. We account for investments in entities in which we have less than a 20 % ownership interest under the cost method of accounting if we do not have the ability to exercise significant influence over the investee. The aggregate carrying amount of our cost method investment which was sold during 2015 was $ 5.0 million as of December 31 , 2014. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2 . Summary of Significant Accounting Policies Revenue Recognition We earn net service revenue through our home health and hospice care center s by providing a variety of services almost exclusively in the homes of our patients. This net service revenue is earned and billed either on an episode of care basis, on a per visit basis or on a daily basis depending upon the payment terms and conditions established with each payor for services provided. We refer to home health revenue earned and billed on a 60 -day episode of care as episodic-based revenue. When we record our service revenue, we record it net of estimated revenue adjustments and contractual adjustments to reflect amounts we estimate to be realizable for services provided, as discussed below. We believe, based on information currently available to us and based on our judgment, that changes to one or more factors that impact the accounting estimates (such as our estimates related to revenue adjustments, contractual adjustments and episodes in progress) we make in determining net service revenue, which changes are likely to occur from period to period, will not materially impact our reported consolidated financial condition, results of operations, cash flows or our future financial results. Home Health Revenue Recognition Medicare Revenue Net service revenue is recorded under the Medicare prospective payment system (“PPS”) based on a 60-day episode payment rate that is subject to adjustment based on certain variables including, but not limited to: (a) an outlier payment if our patient's care was unusually costly (capped at 10% of total reimbursement per provider number); (b) a low utilization payment adjustment (“LUPA”) if the number of visits was fewer than five; (c) a partial payment if our patient transferred to another provider or we received a patient from another provider before completing the episode; (d) a payment adjustment based upon the level of therapy services required (with various incremental adjustments made for additional visits, with larger payment increases associated with the sixth, fourteenth and twentieth visit thresholds); (e) adjustments to payments if we are unable to perform periodic therapy assessments; (f) the number of episodes of care provided to a patient, regardless of whether the same home health provider provided care for the entire series of episodes; (g) changes in the base episode payments established by the Medicare Program; (h) adjustments to the base episode payments for case mix and geographic wages; and ( i ) recoveries of overpayments. In addition, we make adjustments to Medicare revenue if we find that we are unable to produce appropriate documentation of a face to face encounter between the patient and physician. We make adjustments to Medicare revenue to reflect differences between estimated and actual payment amounts, our discovered inability to obtain appropriate billing documentation or authorizations and other reasons unrelated to credit risk. We estimate the impact of such adjustments based on our historical experience, which primarily includes a historical collection rate of over 99 % on Medicare claims, and record this estimate during the period in which services are rendered as an estimated revenue adjustment and a corresponding reduction to patient accounts receivable. Therefore, we believe that our reported net service revenue and patient accounts receivable will be the net amounts to be realized from Medicare for services rendered. In addition to revenue recognized on completed episodes, we also recognize a portion of revenue associated with episodes in progress. Episodes in progress are 60 -day episodes of care that begin during the reporting period, but were not completed as of the end of the period. We estimate this revenue on a monthly basis based upon historical trends. The primary factors underlying this estimate are the number of episodes in progress at the end of the reporting period, expected Medicare revenue per episode and our estimate of the average percentage complete based on visits performed. As of December 31, 2015 and 2014 , the difference between the cash received from Medicare for a request for anticipated payment (“RAP”) on episodes in progress and the associated estimated revenue was immaterial and, therefore, the resulting credits were recorded as a reduction to our outstanding pa tient accounts receivable in our consolidated balance sheets for such periods. Non-Medicare Revenue Episodic-based Revenue. We recognize revenue in a similar manner as we recognize Medicare revenue for episodic-based rates that are paid by other insurance carriers, including Medicare Advantage programs; however, these rates can vary based upon the negotiated terms. Non-episodic b ased Revenue. Gross revenue is recorded on an accrual basis based upon the date of service at amounts equal to our established or estimated per-visit rates, as applicable. Contractual adjustments are recorded for the difference between our standard rates and the contracted rates to be realized from patients, third parties and others for services provided and are deducted from gross revenue to determine net service revenue and are also recorded as a reduction to our outstanding patient accounts receivable. In addition, we receive a minimal amount of our net service revenue from patients who are either self-insured or are obligated for an insurance co-payment. Hospice Revenue Recognition Hospice Medicare Revenue Gross revenue is recorded on an accrual basis based upon the date of service at amounts equal to the estimated payment rates. The estimated payment rates are daily or hourly rates for each of the four levels of care we deliver. The four levels of care are routine care, general inpatient care, continuo us home care and respite care. Routine care accounts for 99 %, 98 %, and 99% of our total net Medic are hospice service revenue for 2015 , 2014 and 2013, respectively . We make adjustments to Medicare revenue for an inability to obtain appropriate billing documentation or acceptable authorizations and other reasons unrelated to credit risk. We estimate the impact of these adjustments based on our historical experience, which primarily includes our historical collection rate on Medicare claims, and record it during the period services are rendered as an estimated revenue adjustment and as a reduction to our outstanding patient accounts receivable. Additionally, as Medicare hospice revenue is subject to an inpatient cap limit and an overall payment cap for each provider number, we monitor these caps and estimate amounts due back to Medicare if we estimate a cap has been exceeded. We record these adjustments as a reduction to revenue and an increase in other accrued liabilities. Beginning for the cap year ending October 31, 2014, providers are required to self-report and pay their estimated cap liability by March 31 st of the following year. As of December 31, 2015, we have settled our Medicare hospice reimbursements for all fiscal years through October 31, 20 12 and we have recorded $ 1.4 million for estimated amounts due back to Medicare in other accrued liabilities for the Federal cap years ended October 31, 201 3 through October 31, 201 6 . As of December 31, 201 4 , we had recorded $ 2 . 8 million for estimated amounts due back to Medicare in other accrued liabilities for the Federal cap years ended October 31, 201 3 through October 31, 201 5 . Hospice Non-Medicare Revenue We record gross revenue on an accrual basis based upon the date of service at amounts equal to our established rates or estimated per day rates, as applicable. Contractual adjustments are recorded for the difference between our established rates and the amounts estimated to be realizable from patients, third parties and others for services provided and are deducted from gross revenue to determine our net service revenue and patient accounts receiv able. Cash and Cash Equivalents Cash and cash equivalents include certificates of deposit and all highly liquid debt instruments with maturities of three months or less when purchased . Patient Accounts Receivable Our patient accounts receivable are uncollateralized and consist of amounts due from Medicare, Medicaid, other t hird-party payors and patients. As of December 31, 2015, there is one s ingle payor , other than Medicare, that accounts for more than 10 % of our total outstanding patient receivables (approximately 10.5 %). T hus , we believe there are no other significant concentrations of receivables that would subject us to any significant credit risk in the collection of our patient accounts receivable. We fully reserve for accounts which are aged at 36 5 days or greater. We write off accounts on a monthly basis once we have exhausted our collection efforts and deem an account to be uncollectible. We believe the credit risk associated with our Medicare accounts , which represent 6 4 % and 6 9 % of our net patient accounts receivable at December 31, 2015 and December 31, 2014 , respectively, is limited due to our historical collection rate of over 99 % from Medicare and the fact that Medicare is a U.S. government payor . Accordingly, we do not record an allowance for doubtful accounts for our Medicare patient accounts receivable, which are recorded at their net realizable value after recording estimated revenue adjustments as discussed above. During 2015 , 2014 and 2013 , we recorded $ 6. 1 million, $ 5.1 million and $ 9. 0 million, respectively, in estimated revenue adjustments to Medicare revenue. We believe there is a certain level of credit risk associated with non-Medicare payors . To provide for our non-Medicare patient accounts receivable that could become uncollectible in the future, we establish an allowance for doubtful accounts to reduce the carrying amount to its estimated net realizable value. Medicare Home Health For our home health patients, our pre-billing process includes verifying that we are eligible for payment from Medicare for the services that we provide to our patients. Our Medicare billing begins with a process to ensure that our billings are accurate through the utilization of an electronic Medicare claim review. We submit a RAP for 60 % of our estimated payment for the initial episode at the start of care or 50 % of the estimated payment for any subsequent episodes of care contiguous with the first episode for a particular patient. The full amount of the episode is billed after the episode has been completed (“final billed”). The RAP received for that particular episode is then deducted from our final payment. If a final bill is not submitted within the greater of 120 days from the start of the episode, or 60 days from the date the RAP was paid, any RAPs received for that episode will be recouped by Medicare from any other claims in process for that particular provider number. The RAP and final claim must then be resubmitted. Medicare Hospice For our hospice patients, our pre-billing process includes verifying that we are eligible for payment from Medicare for the services t hat we provide to our patients. Our Medicare billing begins with a process to ensure that our billings are accurate through the utilization of an electronic Medicare claim review. Once each patient has been confirmed for eligibility, we will bill Medicare on a monthly basis for the services provided to the patient. Non-Medicare Home Health and Hospice For our non-Medicare patients, our pre-billing process primarily begins with verifying a patient's eligibility for services with the applicable payor . Once the patient has been confirmed for eligibility, we will provide services to the patient and bill the applicable payor . Our review and evaluation of non-Medicare accounts receivable includes a detailed review of outstanding balances and special consideration to concentrations of receivables from particular payors or groups of payors with similar characteristics that would subject us to any significant credit risk. We estimate an allowance for doubtful accounts based upon our assessment of historical and expected net collections, business and economic conditions, trends in payment and an evaluation of collectability based upon the date that the service was provided. Based upon our best judgment, we believe the allowance for doubtful accounts adequately provides for accounts that will not be collected due to credit risk . Property and Equipment Property and equipment is stated at cost and we depreciate it on a straight-line basis over the estimated useful lives of the assets. Additionally, we have internally developed c omputer software for our own use . Additions and improvements (including interest costs for construction of qualifying long-lived assets) are capitalized. Maintenance and repair expenses are charged to expense as incurred. The cost of property and equipment sold or disposed of and the related accumulated depreciation are eliminated from the property and related accumulated depreciation accounts, and any gain or loss is credited or charged to other general and administrative expenses . We consider our reporting units to represent asset groups for purposes of testing long-lived assets for impairment. We assess the impairment of a long-lived asset group whenever events or changes in circumstances indicate that the asset's carrying value may not be recoverable. Factors we consider important that could trigger an impairment review include but are not limited to the following: A significant change in the extent or manner in which the long-lived asset group is being used . A significant change in the business climate that could affect the value of the long-lived asset group . A significant change in the market value of the assets included in the asset group . If we determine that the carrying value of long-lived assets may not be recoverable, we compare the carrying value of the asset group to the undiscounted cash flows expected to be generated by the asset group. If the carrying value exceeds the undiscounted cash flows, an impairment charge is indicated. An impairment charge is recognized to the extent that the carrying value of the asset group exceeds its fair value. We generally provide for depreciation over the following estimated useful service lives . Years Building 39 Leasehold improvements Lesser of life or lease or expected useful life Equipment and furniture 3 to 7 Vehicles 5 Computer software 3 to 7 As of December 31, 2014, we had $ 7 5 . 8 million of internally developed software costs related to the development of AMS3 Home Health and Hospice. Expanded beta testing to additional sites in February of 2015 demonstrated that AMS3 was disruptive to operations. Additional analysis of the system determined that the system was not ready to be fully implemented and would require significant time and investment to redesign. Therefore, during the three-month period ended March 31, 2015, we made the decision to discontinue AMS3 and recorded a non-cash asset impairment charge of $ 75.2 million to write-off the software costs incurred related to the development of AMS3 Home Health and Hospice . During the three-month period ended September 30, 2015, we commenced an active program to sell our corporate headquarters located in Baton Rouge, Louisiana. In accordance with U.S. GAAP, we classified this asset as held for sale and reduced the carrying value of the asset to its estimated fair value less estimated costs to sell the asset; no further depreciation expense for the asset was recorded. As a result, we recorded a non-cash asset impairment charge of $ 2.1 million during the three-month period ended September 30, 2015 . The asset was sold during the three-month period ended December 31, 2015 and the Company now leases relevant office space . The following table summarizes the balances related to our property and equipment for 2015 and 2014 (amounts in millions): As of December 31, 2015 2014 Land $ 0.0 $ 3.2 Building and leasehold improvements 2.3 25.3 Equipment and furniture 89.6 97.2 Computer software 92.6 158.2 184.5 283.9 Less: accumulated depreciation (141.8) (146.4) $ 42.7 $ 137.5 Depreciation expense for 2015, 2014 and 2013 was $20.0 million, $28.0 million and $35.2 million, respectively. Goodwill and Other Intangible Assets Goodwill represents the amount of the purchase price in excess of the fair values assigned to the underlying identifiable net assets of acquired businesses. Goodwill is not amortized, but is subject to an annual impairment test. Tests are performed more frequently if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. These events or circumstances include but are not limited to, a significant adverse change in the business environment; regulatory environment or legal factors; or a substantial decline in market capitalization of our stock. To determine whether goodwill is impaired, we perform a two-step impairment test. In the first step of the test, the fair values of the reporting units are compared to their aggregate carrying values, including goodwill. If the fair value of the reporting unit is greater than its carrying amount, goodwill is not considered impaired and no further testing is required. If the fair value of the reporting unit is less than its carrying amount, we would proceed to step two of the test. In step two of the test, the implied fair value of the goodwill of the reporting unit is determined by a hypothetical allocation of the fair value calculated in step one to all of the assets and liabilities of that reporting unit (including any recognized and unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value was reflective of the price paid to acquire the reporting unit. The implied fair value of goodwill is the excess, if any, of the calculated fair value after hypothetical allocation to the reporting unit's assets and liabilities. If the implied fair value of the goodwill is greater than the carrying amount of the goodwill at the analysis date, goodwill is not impaired and the analysis is complete. If the implied fair value of the goodwill is less than the carrying value of goodwill at the analysis date, goodwill is deemed impaired by the amount of that variance. We calculate the estimated fair value of our reporting units using discounted cash flows as well as a market approach that compares our reporting units' earnings and revenue multiples to those of comparable public companies. To determine fair value we must make assumptions about a wide variety of internal and external factors. Significant assumptions used in the impairment analysis include financial projections of free cash flow (including significant assumptions about operations , in particular expected organic growth rates, future Medicare reimbursement rates , capital requirements and income taxes), long-term growth rates for determining terminal value, and discount rates. Our estimates of discounted cash flows may differ from actual cash flows due to, among other things, economic conditions, changes to our business model or changes in operating performance. These factors increase the risk of differences between projected and actual performance that could impact future estimates of fair value of all reporting units. Significant differences between these estimates and actual cash flows could result in additional impairment in future periods. Each of our operating segments described in Note 1 5 – Segment Information is considered to represent an individual reporting unit for goodwill impairment testing purposes. We consider each of our home health care centers to constitute an individual business for which discrete financial information is available. However, since these care centers have substantially similar operating and economic characteristics and resource allocation and significant investment decisions concerning these businesses are centralized and the benefits broadly distributed, we have aggregated these care centers and deemed them to constitute a single reporting unit. We have applied this same aggregation principle to our hospice care centers and have also deemed them to be a single reporting unit. During 201 5 , we did not record any goodwill impairment charges as a result of our annual impairment test and none of the goodwill associated with our various reporting units w as considered at risk of impairment as of October 31, 201 5 . Since the date of our last annual goodwill impairment test, there have been no material developments, events, changes in operating performance or other circumstances that would cause management to believe it is more likely than not that the fair value of any of our reporting units would be less than its carrying amount. Intangible assets consist of Certificates of Need, licenses, acquired names, non-compete agreements and reacquired franchise rights. We amortize non-compete agreements, acquired names that we do not intend to use in the future and reacquired franchise rights on a straight-line basis over their estimated useful lives, which is generally three years for non-compete agreements and up to five years for reacquired franchise rights and acquired names. Debt Issuance Costs We amortize deferred debt issuance costs related to our long-term obligations over its term through interest expense, unless the debt is extinguished, in which case unamortized balances are immediately expensed. We amortized $ 0.8 million, $0.7 million and $ 0.7 million in deferred debt issuance costs in 2015 , 2014 and 2013 , respectively. As of December 31, 2015 and 2014 , we had unamortized debt issuance costs of $ 3.4 million and $ 2. 8 million , respectively , recorded as other assets in our accompanying consolidated balance sheets. During the third quarter of 201 5 , we expensed $ 1.0 million of unamortized debt issuance costs when we entered into our new Credit Agreement. In connection with the new Credit Agreement we recorded an additional $ 2.4 million in deferred debt issuance costs as other assets in our consolidated balance sheet. The unamortized debt issuance costs of $ 3.4 million at December 31, 2015 , will be amortized over a weighted-average amortization period of 4.6 years. Fair Value of Financial Instruments The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The three levels of inputs are as follows: Level 1 – Quoted prices in active markets for identical assets and liabilities. Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Our deferred compensation plan assets are recorded at fair value and are considered a level 2 measurement. For our other financial instruments, including our cash and cash equivalents, patient accounts receivable, accounts payable , payroll and employee benefits and accrued expenses , we estimate the carrying amounts' approximate fair value . As of December 31, 2015, the carrying amount of our long-term debt is subject to a variable rate of interest based on current market rates, and as such, the carrying value approximates fair value . Income Taxes We use the asset and liability approach for measuring deferred tax assets and liabilities based on temporary differences existing at each balance sheet date using currently enacted tax rates. Our deferred tax calculation requires us to make certain estimates about future operations. Deferred tax assets are reduced by a valuation allowance when we believe it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect of a change in tax rate is recognized as income or expense in the period that includes the enactment date. As of December 31, 201 5 and 201 4 our net deferred tax asset s w ere $ 125.2 million and $ 122.4 million, respectively . Management regularly assesses the ability to realize deferred tax assets recorded in the Company's entities based upon the weight of available evidence, including such factors as the recent earnings history and expected future taxable income . In the event future taxable income is below management's estimates or is generated in tax jurisdictions different than projected, we could be required to increase the valuation allowance for deferred tax assets. This would result in an increase in our effective tax rate. Share-Based Compensation We record all share-based compensation as expense in the financial statements measured at the fair value of the award. We recognize compensation cost on a straight-line basis over the requisite service period for each separately vesting portion of the award. We reflect the excess tax benefits related to stock option exercises as financing cash flows. Share-based compensation expense for 2015 , 2014 and 2013 was $ 11.8 million, $ 5.6 million and $ 6.5 million, respectively, and the total income tax benefit recognized for these expenses was $ 4 . 7 million, $ 2. 0 million and $ 2.5 million, respectively. Weighted-Average Shares Outstanding Net ( loss ) income per share attributable to Amedisys , Inc. common stockholders, calculated on the treasury stock method, is based on the weighted average number of shares outstanding during the period. The following table sets forth, for the periods indicated, shares used in our computation of the weighted-average shares outstanding, which are used to calc ulate our basic and diluted net earnings attributable to Amedisys , Inc. common stockholders (amounts in thousands): For the Years Ended December 31, 2015 2014 2013 Weighted average number of shares outstanding - basic 33,018 32,301 31,247 Effect of dilutive securities: Stock options 0 1 0 Non-vested stock and stock units 0 521 0 Weighted average number of shares outstanding - diluted 33,018 32,823 31,247 Anti-dilutive securities 922 106 688 Advertising Costs We expense advertising costs as incurred. Advertising expense for 2015 , 2014 and 2013 was $ 6.9 million, $ 4.7 million and $ 3.9 million , respectively. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) , which requires an entity to recognize the amount of revenue for which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , to defer the effective date of the standard from January 1, 2017, to January 1, 2018, with an option that permits companies to adopt the standard as early as the original effective date. The new ASU reflects the decisions reached by the FASB at its meeting in July 2015. Early application prior to the original effective date is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 and ASU 2015-14 will have on its consolidated financial statements and related disclosures, its transition method and the effect of the standard on its ongoing financial reporting. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. ASU 2015-03 is effective for annual and interim periods beginning on or after December 15, 2015. As of December 31 , 2015, we have $ 3. 4 million of unamortized debt issuance costs that would be reclassified from a long-term asset to a reduction in the carrying amount of our debt . In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes (Topic 740) , which simplifies the presentation of deferred income taxes. This ASU requires that deferred tax assets and liabilities be classified as noncurrent in the balance sheet . The current requirement that deferred tax assets and liabilities be offset and presented as a single amount was not affected by the amendments in ASU 2015-17. The ASU is effective for annual and interim periods beginning on or after December 15, 201 6 . Early adoption is permitted. We have chosen to early adopt this ASU on a prospective basis. Adoption of this ASU resulted in a reclassification of our net current deferred tax liability to the net noncurrent deferred tax asset in our consolidated balance sheet as of December 31, 2015 . Prior periods were not retrospectively adjusted . In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842 ), whic h will require lessees to recognize a lease liability and right-of-use asset for all leases (with the exception of short-term leases) at the commencement date . The ASU is effective for annual and interim periods beginning on or after December 15, 2018. Early adoption is permitted. The standard requires a modified retrospective transition method which requires application of the new guidance for all periods presented. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures and the effect of the standard on its ongoing financial reporting . |
ACQUISITIONS
ACQUISITIONS | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
ACQUISITIONS | 3. ACQUISITIONS We complete acquisitions from time to time in order to pursue our strategy of increasing our market presence by expanding our service base and enhancing our position in certain geographic areas as a leading provider of home health and hospice services. The purchase price paid for acquisitions is negotiated through arm's length transactions, with consideration based on our analysis of, among other things, comparable acquisitions and expected cash flows for each transaction. Acquisitions are accounted for as purchases and are included in our consolidated financial statements from their respective acquisition dates. Goodwill generated from acquisitions is recognized for the excess of the purchase price over tangible and identifiable intangible assets because of the expected contributions of the acquisitions to our overall corporate strategy . On July 24, 2015, we acquired one hospice care center in Tennessee for a total purchase price of $5.8 million. The purchase price was paid with cash on hand on the date of the transaction. In connection with the acquisition, we recorded goodwill ($5.5 million) and other intangibles ($0.3 million) . On O ctober 2, 2015, we acquired the regulatory assets of home health care center in Georgia for a total purchase price of $0.3 million. The purchase price was paid with cash on hand on the date of the transaction. In connection with the acquisition, we recorded goodwill ($0.3 million). On December 31, 2015, we acquired Infinity HomeCare (“Infinity”) for a total purchase price of $63 million, net of cash acquired (subject to certain adjustments ) , of which $ 3 . 2 million was placed in escrow for indemnification purposes and working capital price adjustments. The purchase price was paid with cash on hand on the date of the transaction. Infinity owned and operated 15 home health care centers servicing the state of Florida. In connection with the acquisition, we recorded goodwill ($ 50. 2 million), other intangibles ($ 10 . 9 million) and other assets and liabilities, net ($ 1 . 9 million). Approximately $ 47. 6 million of the $ 50. 2 recorded as goodwill is expected to be deductible for income tax purposes over approximately 15 years . The following table contains unaudited pro forma condensed consolidated statement of operation s information assuming that the Infinity transaction closed on January 1, 201 4 , for the years ended December 31, 2015 and 201 4 (amounts in millions, except per share data ): 2015 2014 Net service revenue $ 1,327.3 $ 1,247.6 Operating (loss) income (7.9) 21.0 Net income 0.2 10.9 Basic earnings per share $ 0.01 $ 0.34 Diluted earnings per share $ 0.01 $ 0.33 The pro forma information presented above includes adjustments for (i) interest expense, (ii) amortization of identifiable intangible assets and (iii) income tax provision using the Company’s statutory tax rate. This pro forma information is presented for illustrative purposes only and may not be indicative of the results of operations that would have actually occurred. In addition, future results may vary significantly from the results reflected in the pro forma information. |
DISCONTINUED OPERATIONS AND ASS
DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE | 12 Months Ended |
Dec. 31, 2015 | |
Discontinued Operation, Additional Disclosures [Abstract] | |
DISCONTINUED OPERATIONS | 4. DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE As part of our ongoing management of our portfolio of care centers, we review each care center's current financial performance, market penetration, forecasted market growth and the impact of proposed CMS payment revisions. If the review indicates a care center should be closed, we first determine whether we can consolidate the care center with a care center servicing the same market. I f a consolidation is not viable, we evaluate whether we have the opportunity to sell the care center or must close the care center. As a result of our review, we consolidated 41 home health care centers and five hospice care centers with care centers servicing the same markets, sold 19 home health care centers and one hospice care center and closed 10 home health care centers during 2013. We had previously classified 28 of these care centers as held for sale during 2013 and three care centers remain ed classified as held for sale at December 31, 2013. During 2014, we sold assets associated with two of these care centers and consolidated one of these care centers with a care center servicing the same m arket. There were no care centers classified as held for sale as of December 31, 2014 . As we exited certain geographical areas and in accordance with applicable accounting guidance, the care centers which were closed, sold or classified as held for sale in 2013 (32 home health care centers and one hospice care center) are presented as discontinued operations in our consolidated financial statements. The care centers consolidated with care centers servicing the same markets are presented in continuing operations as we expect continuing cash flows from these markets. For additional information on the care centers consolidated with care centers servicing the same markets and the care centers sold , see Note 1 3 – Exit Activities and Restructuring Activities . Net revenues and operating results for the periods presented for those care centers classified as discontinued operations are as follows (dollars in millions): For the Years Ended December 31, 2015 2014 2013 Net revenues $ 0.0 $ (0.3) $ 31.2 (Loss) before income taxes 0.0 (0.3) (5.3) Income tax benefit 0.0 0.1 2.2 Discontinued operations, net of tax $ 0.0 $ (0.2) $ (3.1) |
GOODWILL AND OTHER INTANGIBLE A
GOODWILL AND OTHER INTANGIBLE ASSETS, NET | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL AND OTHER INTANGIBLE ASSETS, NET | 5. GOODWILL AND OTHER INTANGIBLE ASSETS, NET During 201 5 , we did not record any goodwill impairment charges as a result of our annual impairment test and none of the goodwill associated with our various reporting units were considered at risk of impairment as of October 31, 201 5 . Since the date of our last annual goodwill impairment test, there have been no material developments, events, changes in operating performance or other circumstances that would cause management to believe it is more likely than not that the fair value of any of our reporting units would b e less than its carrying amount. During the fiscal year 201 4 , we recognized a non-cash other intangible impairment charge of $ 0.9 million during step one of our 2014 annual goodwill impairment test . In addition, we recorded non-cash impairment charges of $ 2.2 million related to those care centers that were closed or consolidated during 2014 as discussed in Note 1 3 – Exit and Restructuring Activities. During the fiscal year 2013, we recognized the following: a non-cash goodwill impairment charge of $1.3 million and a non-cash other intangibles impairment charge of $8.2 million. The non-cash goodwill impairment charge related to an investment that was consolidate d as discussed in Note 1- Nature of Operations, Consolidation and Presentation of Financial Statements. Included in the non-cash other intangibles impairment charge discussed above is $ 4.6 million recognized during step one of our 2013 annual goodwill impairment test and $ 3.6 million related to intangibles associated with those care centers that were closed or consolidated during 2013 as discussed in Note 1 3 – Exit and Restructuring Activities . The following table summarizes the activity related to our goodwill for the 2015, 2014 and 2013 (amounts in millions): Goodwill Home Health Hospice Total Balances at December 31, 2012 $ 18.2 $ 191.4 $ 209.6 Additions 0.1 0.9 1.0 Write-off (1) (0.4) 0.0 (0.4) Impairment (1.3) 0.0 (1.3) Balances at December 31, 2013 16.6 192.3 208.9 Write-off (1) (0.1) (3.2) (3.3) Balances at December 31, 2014 16.5 189.1 205.6 Additions 50.6 5.5 56.1 Balances at December 31, 2015 $ 67.1 $ 194.6 $ 261.7 Write-off of goodwill r elated to the sale of care centers as discussed in Note 1 3 – Exit and Restructuring Activities . The following table summarizes the activity related to our other intangible assets, net for 2015, 2014 and 2013 (amounts in millions): Other Intangible Assets, Net Non-Compete Agreements & Certificates of Acquired Reacquired Need and Names of Franchise Licenses Business Rights Total Balances at December 31, 2012 $ 33.7 $ 11.5 $ 1.8 $ 47.0 Additions 0.6 0.0 0.0 0.6 Write-off (1) (1.1) 0.0 0.0 (1.1) Impairment (7.8) (0.4) 0.0 (8.2) Amortization 0.0 0.0 (1.6) (1.6) Balances at December 31, 2013 25.4 11.1 0.2 36.7 Write-off (1) (0.2) 0.0 0.0 (0.2) Impairment (2.1) (1.0) 0.0 (3.1) Amortization 0.0 0.0 (0.2) (0.2) Balances at December 31, 2014 23.1 10.1 0.0 33.2 Additions 1.1 4.1 5.9 11.1 Write-off (1) (0.3) 0.0 0.0 (0.3) Balances at December 31, 2015 $ 23.9 $ 14.2 $ 5.9 $ 44.0 Write-off of intangible assets related to the sale of care centers as discussed in Note 1 3 – Exit and Restructuring Activities . The weighted average amortization period of our non-compete agreements is 3.0 years . See Note 3 – Acquisitions for further details on additions to goodwill and other intangible assets, net . The estimated aggregate amortization expense for each of the five succeeding years is as follows (amounts in millions): 2016 $ 2.0 2017 2.0 2018 1.9 2019 0.0 2020 0.0 $ 5.9 |
DETAILS OF CERTAIN BALANCE SHEE
DETAILS OF CERTAIN BALANCE SHEET ACCOUNTS | 12 Months Ended |
Dec. 31, 2015 | |
Details Of Certain Balance Sheet Accounts [Abstract] | |
DETAILS OF CERTAIN BALANCE SHEET ACCOUNTS | 6. DETAILS OF CERTAIN BALANCE SHEET ACCOUNTS Additional information regarding certain balance sheet accounts is presented below (amounts in millions): As of December 31, 2015 2014 Other current assets: Payroll tax escrow $ 6.2 $ 1.0 Medicare withholds 0.0 0.1 Income tax receivable 0.5 15.0 Due from joint ventures 1.8 1.4 Other 6.1 2.2 $ 14.6 $ 19.7 Other assets: Workers' compensation deposits $ 0.3 $ 0.3 Health insurance deposits 1.2 1.2 Other miscellaneous deposits 1.5 0.7 Deferred financing fees 3.4 2.8 Investments 25.7 23.8 Other 4.1 4.4 $ 36.2 $ 33.2 Accrued expenses: Health insurance $ 11.7 $ 11.2 Workers' compensation 23.9 19.8 Legal and other settlements 10.5 5.2 Lease liability 0.6 0.8 Charity care 0.7 0.7 Estimated Medicare cap liability 1.4 2.8 Hospice cost of revenue 6.8 5.7 OIG self-disclosure accrual 4.7 0.0 Patient liability 5.1 4.3 Other 6.6 5.8 $ 72.0 $ 56.3 Other long-term obligations: Reserve for uncertain tax positions $ 0.7 $ 0.5 Deferred compensation plan liability 2.8 3.3 Other 0.9 1.5 $ 4.4 $ 5.3 |
LONG-TERM OBLIGATIONS
LONG-TERM OBLIGATIONS | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
LONG-TERM OBLIGATIONS | 7. LONG-TERM OBLIGATIONS Long-term debt consisted of the following for the periods indicated (amounts in millions): As of December 31, 2015 2014 $100.0 million Term Loan; principal payments plus accrued interest payable quarterly; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage (2.42% at December 31, 2015); due August 28, 2020 $ 100.0 $ 0.0 $60.0 million Term Loan; $3.0 million principal payments plus accrued interest payable quarterly; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage; due October 26, 2017 0.0 33.0 $120.0 million Revolving Credit Facility; interest only quarterly payments; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage; due October 26, 2017 0.0 15.0 $70.0 million Second Lien Loan; interest only quarterly payments; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage; due July 28, 2020 0.0 70.0 Discount on Second Lien Loan - (1.6) 100.0 116.4 Current portion of long-term obligations (5.0) (12.0) Total $ 95.0 $ 104.4 Maturities of debt as of December 31, 2015 are as follows (amounts in millions): Long-term obligations 2016 $ 5.0 2017 5.0 2018 10.0 2019 10.0 2020 70.0 $ 100.0 Credit Agreement On August 28, 2015, we entered into a Credit Agreement that provides for senior secured facilities in an initial aggregate principal amount of up to $300 million (the “Credit Facilities”). The Credit Facilities are comprised of (a) a term loan facility in an initial aggregate principal amount of $100 million (the “Term Loan”); and (b) a revolving credit facility in an initial aggregate principal amount of up to $200 million (the “Revolving Credit Facility”). The Revolving Credit Facility provides for and includes within its $200 million limit a $25 million swingline facility and commitments for up to $50 million in letters of credit. Upon lender approval, we may increase the aggregate loan amount under the Credit Facilities by a maximum amount of $150 million. The net proceeds of the Term Loan and existing cash on hand were used to pay off (i) our existing term loan under our prior Credit Agreement, dated as of October 22, 2012, as amended (the “Prior Credit Agreement”) with a principal balance of $27 million and (ii) our existing term loan under our prior Second Lien Credit Agreement dated July 28, 2014 (the “Second Lien Credit Agreement”), with a principal balance of $70 million. The final maturity of the Term Loan is August 28, 2020. The Term Loan will amortize beginning on March 31, 2016 in 18 quarterly installments (eight quarterly installments of $1.25 million followed by eight quarterly installments of $2.5 million, followed by two quarterly installments of $3.1 million, subject to adjustment for prepayments), with the remaining balance due upon maturity. The Revolving Credit Facility may be used to provide ongoing working capital and for general corporate purposes of the Company and our subsidiaries, including permitted acquisitions, as defined in the Credit Agreement. The final maturity of the Revolving Credit Facility is August 28, 2020 and will be payable in full at that time. The interest rate in connection with the Credit Facilities shall be selected from the following by us: (i) the Base Rate plus the Applicable Rate or (ii) the Eurodollar Rate plus the Applicable Rate. The “Base Rate” means a fluctuating rate per annum equal to the highest of (a) the federal funds rate plus 0.50% per annum, (b) the prime rate of interest established by the Administrative Agent, and (c) the Eurodollar Rate for an interest period of one month plus 1% per annum. The “Eurodollar Rate” means the rate at which Eurodollar deposits in the London interbank market for an interest period of one, two, three or six months (as selected by us) are quoted. The “Applicable Rate” is based on the consolidated leverage ratio and is presented in the table below. As of December 31, 2015, the Applicable Rate is 1 . 00 % per annum for Base Rate Loans and 2 . 0 0 % per annum for Eurodollar Rate Loans. We are also subject to a commitment fee and letter of credit fee under the terms of the Credit Facilities, as presented in the table below . Consolidated Leverage Ratio Margin for ABR Loans Margin for Eurodollar Loans Commitment Fee Letter of Credit Fee ≥ 2.75 to 1.0 2.00% 3.00% 0.40% 3.00% < 2.75 to 1.0 but ≥ 1.75 to 1.0 1.50% 2.50% 0.35% 2.50% < 1.75 to 1.0 but ≥ 0.75 to 1.0 1.00% 2.00% 0.30% 2.00% < 0.75 to 1.0 0.50% 1.50% 0.25% 1.50% Our weighted average interest r ate for our $100.0 million Term Loan, under our Credit Agreement, was 2.7 % for the period August 28, 2015 to December 31, 2015 . As of December 31, 2015, our availability under our $200.0 million Revolving Credit Facility was $179.0 million as we had $21.0 million outstanding in letters of credit. The Credit Agreement requires maintenance of two financial covenants: (i) a consolidated leverage ratio of funded indebtedness to EBITDA, as defined in the Credit Agreement, and (ii) a consolidated fixed charge coverage ratio of EBITDA plus rent expense (less cash taxes less capital expenditures) to scheduled debt repayments plus interest expense plus rent expense, all as defined in the Credit Agreement. Each of these covenants is calculated over rolling four-quarter periods and also is subject to certain exceptions and baskets. As of December 31 , 2015, our consolidated leverage ratio was 0.9 and our consolidated fixed charge coverage ratio was 3.7 and we are in compliance with the Credit Agreement. The Credit Agreement also contains customary covenants, including, but not limited to, restrictions on: incurrence of liens; incurrence of additional debt; sales of assets and other fundamental corporate changes; investments; and declarations of dividends. These covenants contain customary exclusions and baskets. The Credit Facilities are guaranteed by substantially all of our wholly-owned direct and indirect subsidiaries. The Credit Agreement requires at all times that we (i) provide guarantees from wholly-owned subsidiaries that in the aggregate represent not less than 95% of our consolidated net revenues and adjusted EBITDA from all wholly-owned subsidiaries and (ii) provide guarantees from subsidiaries that in the aggregate represent not less than 70% of consolidated adjusted EBITDA, subject to certain exceptions. In connection with entering into the Credit Agreement, we entered into (i) a Security Agreement with the Administrative Agent dated August 28, 2015 and (ii) a Pledge Agreement with the Administrative Agent dated as of August 28, 2015 for the purpose of securing the payment of our obligations under the Credit Agreement. Pursuant to the Security Agreement and the Pledge Agreement, as of the effective date of the Credit Agreement, our obligations under the Credit Agreement are secured by (i) the grant of a first lien security interest in the non-real estate assets of substantially all of our direct and indirect, wholly-owned subsidiaries (subject to exceptions) and (ii) the pledge of the equity interests in (a) substantially all of our direct and indirect, wholly-owned corporate, limited liability company and limited partnership subsidiaries and (b) those joint ventures which constitute subsidiaries under the Credit Agreement (subject, in the case of the Pledge Agreement, to exceptions). In connection with our entry into the Credit Agreement, on August 28, 2015, each of the Prior Credit Agreement and the Second Lien Credit Agreement were terminated. The Company paid a call premium of $700,000 associated with the termination of the Second Lien Credit Agreement and the voluntary prepayment of the amounts owed thereunder as of August 28, 2015, and expensed $2.5 million in deferred debt issuance costs during the three-month period ended September 30 , 2015. Also in connection with our entry into the Credit Agreement, we recorded $2.4 million in deferred debt issuance costs as other assets in our consolidated balance sheet . |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 8. INCOME TAXES Income taxes attributable to continuing operations consist of the following (amounts in millions): For the Years Ended December 31, 2015 2014 2013 Current income tax expense/(benefit): Federal $ 2.2 $ (13.9) $ (2.0) State and local 0.5 (1.1) 0.3 2.7 (15.0) (1.7) Deferred income tax expense/(benefit): Federal (0.5) 21.0 (43.2) State and local (0.1) 1.6 (13.9) Foreign (0.1) 0.1 0.0 (0.7) 22.7 (57.1) Income tax expense/(benefit) from continuing operations $ 2.0 $ 7.7 $ (58.8) Total income tax expense for the years ended December 31, 2015, 2014 and 2013 was allocated as follows (amounts in millions): For the Years Ended December 31, 2015 2014 2013 Income from continuing operations $ 2.0 $ 7.7 $ (58.8) Income from discontinued operations 0.0 (0.1) (2.2) Interest expense 0.2 (0.1) 0.1 Goodwill (0.1) 0.0 0.0 Stockholders' equity (2.1) 0.6 2.2 $ 0.0 $ 8.1 $ (58.7) A reconciliation of significant differences between the reported amount of income tax expense and the expected amount of income tax expense that would result from applying the U.S. federal statutory income tax rate of 35 percent to income before taxes from continuing operations is as follo ws: For the Years Ended December 31, 2015 (1) 2014 2013 Income tax expense/(benefit) at U.S. federal statutory rate 35.0 % 35.0 % (35.0) % State and local income taxes, net of federal income tax benefit (7.1) 5.8 (4.4) Valuation allowance 79.1 1.5 0.0 Tax credits 136.0 (8.4) (1.2) Uncertain tax positions (230.3) 0.6 2.3 Other items, net (2) (663.3) 2.1 0.0 Income tax expense/(benefit) (650.6) % 36.6 % (38.3) % The information provided for the year ended December 31, 2015 does not provide a meaningful reconciliation of the effective tax rate or comparable to other periods. The effective tax rate for the year is influenced by the relationship of the amount of “effective tax rate drivers” (i.e. non-deductible expenses, non-taxable income, tax credits, valuation allowance, uncertain tax positions, etc.) to income or loss before taxes. A significant asset impairment was recorded in the first quarter, resulting in a scenario where the company's loss before tax for the year was near zero. Consequently, for 2015, the relationship between the “effective tax rate drivers” and loss before taxes is distorted. Includes various items such as, non-deductible expenses, non-taxable income, return-to-accrual adjustments, and foreign tax rate differential. As of December 31, 2015 and 2014 , the Company had income taxes receivable of $ 0.5 million and $ 15.0 million, respectively, included in other current assets. The $15. 0 million receivable at December 31, 201 4 , primarily includes a U.S. federal tax receivable of $ 14.3 million from the carry back of U.S. federal net operating losses to December 31, 201 2 and 201 1 . During 2015, the Company received the $14.3 million U.S. federal refund from the carry back claims . Deferred tax assets (liabilities) consist of the following components (amounts in millions): As of December 31, 2015 2014 Deferred tax assets: Allowance for doubtful accounts $ 6.4 $ 5.6 Accrued expenses 0.0 1.2 Accrued bonus 4.0 0.0 Workers' compensation 9.8 8.1 Amortization of intangible assets 72.2 89.2 Share-based compensation 5.0 3.3 Net operating loss carryforwards (1) 48.5 59.3 Tax credit carryforwards (2) 4.7 2.6 Other 5.1 1.8 Gross deferred tax assets 155.7 171.1 Less: valuation allowance (0.3) (0.6) Net deferred tax assets 155.4 170.5 Deferred tax (liabilities): Property and equipment (9.5) (31.3) Deferred revenue (18.5) (16.8) Other liabilities (2.2) 0.0 Gross deferred tax (liabilities) (30.2) (48.1) Net deferred tax assets (liabilities) $ 125.2 $ 122.4 (1) The net operating loss ("NOL") carry forwards in the income tax returns include unrecognized tax benefits resulting from uncertain tax positions. Accordingly, the deferred tax assets recognized for the NOL carry forwards, as of December 31, 2015 and 2014, are presented net of unrecognized tax benefits of $3.1 million. (2) The tax credit carry forwards in the income tax returns include unrecognized tax benefits resulting from uncertain tax positions. Accordingly, the deferred tax assets recognized for the tax credit carry forwards, as of December 31, 2015 and 2014, are presented net of unrecognized tax benefits of $0.7 million and $0.3 million, respectively. Classification in the consolidated balance sheet (amounts in millions): As of December 31, 2015 (1) 2014 Current deferred tax liabilities 0.0 (2.4) Noncurrent deferred tax assets 125.2 124.8 Net deferred tax assets (liabilities) $ 125.2 $ 122.4 (1) In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes (Topic 740) , which required that deferred tax liabilities and assets be classified as noncurrent. Since early adoption is permitted, the Company has decided to apply ASU 2015-17 to the current period, resulting in a classification of all December 31, 2015 deferred tax assets and liabilities as noncurrent. The Company has not, however, retrospectively adjusted the prior period balances. As of December 31, 201 5 , we have U.S. NOL carry forward s of $ 116.3 million that are available to reduce future taxable income and begins to expire in 2034 . In addition, we have r esearch and d evelopment tax credits, employment tax credits, and alternative minimum tax credits of $1.9 million, $0.4 million and $ 1 . 0 million, respectively, available to reduce future U.S. federal income taxes. The r esearch and d evelopment tax credits and employment tax credits begin to expire in 2032, and the alternative minimum tax credits are available indefinitely . As of December 31, 201 5 , we have state NOL carry forwards of $ 254.3 million that are available to reduce future taxable income. In addition, we have $ 3.1 million of various state tax credits available to reduce future taxable income. The state NOL and tax credit carry forwards begin to expire at various times. The valuation allowance for deferred tax assets as of December 31, 2015 and 2014 was $0.3 million and $0.6 million, respectively. The net change in the total valuation allowance for the year ended December 31, 201 5 and December 31 , 2014 was a decrease of $ 0.3 million and an increase of $ 0.3 million, respectively . The valuation allowance during 2015 and 2014 was primarily related to certain state NOL and state tax credit carry forwards . In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in those jurisdictions during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carry back and carry forward periods), projected future taxable income, and tax-planning strategies in making this assessment. In order to fully realize the deferred tax assets, the Company will need to generate future taxable income before the expiration of the carry forwards governed by the tax code. Based on the current level of pretax earnings (excluding the significant asset impairment recorded during the three-month period ended March 31, 2015) and estimates of future taxable income , the Company will generate the minimum amount of future taxable income to support the realization of the deferred tax assets. As a result, management believes that it is more likely than not that we will realize the benefits of these deferred tax assets, net of the existing valuation allowances at December 31, 201 5 . The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced . Uncertain Tax Positions We account for uncertain tax positions in accordance with the authoritative guidance for uncertain tax positions. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (amounts in millions): For the Years Ended December 31, 2015 2014 Balance at beginning of period $ 4.0 $ 3.9 Additions for tax positions related to current year 0 0.3 Additions for tax positions related to prior year 1.0 0 Reductions for tax positions related to prior years 0 0 Lapse of statute of limitations (0.3) (0.2) Settlements 0 0 Balance at end of period $ 4.7 $ 4.0 As of De cember 31, 201 5 , there are $ 0. 2 million , $0.7 million and $ 3.8 million of unrecognized tax benefits recorded in accrued expenses, other long-term obligations and deferred income taxes, respectively, within the consolidated balance sheet . Included in the balance of unrecognized tax benefits at December 31, 201 5 is $ 4. 7 million of tax benefits that, if recognized in future periods, would impact our effective tax rate. During the years ended December 31, 201 5 and 201 4 , we recognized interest and penalties of $ 0.2 million and $0.1 million, respectively, as components of penalties or interest expense in connection with our reserve for uncertain tax positions. Interest and penalties, related to uncertain tax positions, included in the consolidated balance sheet at December 31, 201 5 and 201 4 were less than $0. 2 million for each year . We are subject to income taxes in the U.S. and in many of the 50 individual states, with significant operations in Louisiana, Alabama, Georgia, and Tennessee. We are open to examination in the U.S. and in various individual states for tax years ended December 31, 201 2 through December 31, 201 5 . We are also open to examination in various states for the years ended 200 1 – 201 5 resulting from net operating losses generated and available for carry forward from those years . We believe that it is reasonab ly possible that decrease s of up to $0.6 million in unrecognized tax benefits, each of which are individually insignificant, may be recognized by the end of December 31, 2016 as a result of an anticipated settlement and lapse of the statute of limitations . |
CAPITAL STOCK AND SHARE-BASED C
CAPITAL STOCK AND SHARE-BASED COMPENSATION | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
CAPITAL SOCK AND SHARE-BASED COMPENSATION | 9. CAPITAL STOCK AND SHARE-BASED COMPENSATION We are authorized by our Certificate of Incorporation to issue 60,000,000 shares of common stock, $0.001 par value and 5,000,000 shares of preferred stock, $0.001 par value . As of December 31, 2015 , there were 34, 786,966 and 3 3, 607,282 shares of common stock issued and outstanding, respectively , and no shares of preferred stock issued or outstanding. Our Board of Directors is authorized to fix the dividend rights and terms, conversion and voting rights, redemption rights and other privileges and restrictions applicable to our preferred stock. Share-Based Awards Our 2008 Omnibus Incentive Compensation Plan (the “Plan”) authorizes the grant of various types of equity-based awards, such as stock awards, restricted stock units, stock appreciation rights and stock options to eligible participants, which include all of our employees and all employees of our 50 % or more owned subsidiaries, our non-employee directors and certain consultants. The vesting terms of the awards may be tied to continued employment (or, for our non-employee directors, continued service on the Board of Directors) and/or achievement of certain pre-determined performance goals. We refer to stock awards subject to service-based vesting conditions as “non-vested stock” and restricted stock units subject to service-based and performance-based or market-based vesting conditions as “non-vested stock units.” The Plan is administered by the Compensation Committee of our Board of Directors, which determines, within the provisions of the Plan, those eligible employees to whom, and the times at which, awards shall be granted. The Compensation Committee, in its discretion, may delegate its authority and duties under the Plan to specified officers; however, only the Compensation Committee may approve the terms of awards to our executive officers. Equity-based awards may be granted for a number of shares not to exceed, in the aggregate, approximately 5 . 5 million shares of common stock, and we had approximately 1 .3 million shares available at December 31, 2015 . The price per share for stock options shall be of no less than the greater of (a) 100 % of the fair value of a share of common stock on the date the option is granted or (b) the aggregate par value of the shares of our common stock on the date the option is granted. If a stock option is granted to any owner of 10 % or more of our total combined voting power of us and our subsidiaries, the price is to be at least 110 % of the fair value of a share of our common stock on the date the award is granted. Each equity-based award vests ratably over a 12 month-to- six year period, with the exception of those issued under contractual arrangements that specify otherwise, that may be exercised during a period as determined by our Compensation Committee or as otherwise approved by our Compensation Committee. The contractual terms of stock options exercised shall not exceed ten years from the date such option is granted. Employee Stock Purchase Plan (“ESPP”) We have a plan whereby our eligible employees may purchase our common stock at 85 % of the market price at the time of purchase. On June 7, 20 12 , our stockholders ratified an amendment adopted by our Board of Directors to increase the total number of shares of our common stock authorized for the issuance under our ESPP from 2 , 500 , 000 shares to 4 ,500,000 shares, and as of December 31, 2015 , there were 1, 522,28 8 shares available for future issuance. The following is a detail of the purchases that were made or pending Board of Director approval under the plan: Employee Stock Purchase Plan Period Shares Issued Price 2013 and Prior 2,755,337 $ 13.67 January 1, 2014 to March 31, 2014 52,718 12.66 April 1, 2014 to June 30, 2014 38,679 14.23 July 1, 2014 to September 30, 2014 32,573 17.14 October 1, 2014 to December 31, 2014 20,221 24.95 January 1, 2015 to March 31, 2015 24,368 22.76 April 1, 2015 to June 30, 2015 15,750 33.77 July 1, 2015 to September 30, 2015 18,984 32.27 October 1, 2015 to December 31, 2015 19,082 33.42 2,977,712 ESPP expense included in general and administrative expense in our accompanying consolidated statements of operations was $ 0.4 million, $0. 4 million and $ 0. 5 million for 201 5 , 201 4 and 201 3 , res pectively. Stock Options We use the Black-Scholes option pricing model to estimate the fair value of our stock options. There were no stock options granted during 2013; there were 590,647 and 250,000 options granted during 2015 and 2014, respectively. Stock option compensation expense included in general and administrative expense in our accompanying consolidated statements of operations was $3.8 million and $0.1 million for 2015 and 2014, respectively. The fair value of the 2015 awards were estimated using the following assumptions: Risk Free Rate 1.46% - 1.93% Expected Volatility 53.87 % - 58.05% Expected Term 5.50 - 6.76 years Weighted Average Fair Value $13.45 - $23.21 We used the simplified method to estimate the expected term for the stock options granted during 2015. The following table presents our stock option activity for 2015: Number of Shares Weighted Average Exercise Price Weighted Average Contractual Life (Years) Outstanding options at January 1, 2015 277,536 $ 26.40 8.99 Granted 590,647 31.73 Exercised (15,380) 25.93 Canceled, forfeited or expired (14,309) 25.16 Outstanding options at December 31, 2015 838,494 $ 30.18 9.31 Exercisable options at December 31, 2015 62,500 $ 26.65 8.96 The aggregate intrinsic value of our outstanding options and exercisable options at December 31, 2015 was $8.1 million and $0.8 million, respectively. Total intrinsic value of options exercised was $0.2 million, $0.1 million and $0.2 million for 2015, 2014 and 2013, respectively. The following table presents our non-vested stock option award activity for 2015: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock options at January 1, 2015 250,000 $ 26.65 Granted 590,647 31.73 Vested (62,500) 26.65 Forfeited (2,153) 43.63 Non-vested stock options at December 31, 2015 775,994 $ 30.47 At December 31, 2015, there was $9.8 million of unrecognized compensation cost related to stock options that we expect to be recognized over a weighted-average period of 2.6 years. Non-Vested Stock We issue shares of non-vested stock with vesting terms ranging from one to six years. The compensation expense is determined based on the market price of our common stock at the date of grant applied to the total number of shares that are anticipated to fully vest. Non-vested stock compensation expense included in general and administrative expenses in our accompanying consolidated statements of operations was $5.0 million, $4.6 million and $5.2 million for 2015, 2014 and 2013, respectively. The following table presents our non-vested stock award activity for 2015: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock at January 1, 2015 917,959 $ 15.17 Granted 93,256 28.48 Vested (355,396) 14.69 Canceled, forfeited or expired (154,931) 14.34 Non-vested stock at December 31, 2015 500,888 $ 18.24 The weighted average grant date fair value of non-vested stock granted was $28.48, $16.38 and $10.91 in 2015, 2014, and 2013, respectively. At December 31, 2015, there was $4.1 million of unrecognized compensation cost related to non-vested stock award payments that we expect to be recognized over a weighted average period of 1.4 years. Non-Vested Stock Units - Service-Based We issue non-vested stock unit awards that are service-based, performance-based or a combination of both with vesting terms ranging from one to six years. Based on the terms and conditions of these awards, we determine if the awards should be recorded as either equity or liability instruments. The compensation expense is determined based on the market price of our common stock at the date of grant, applied to the total number of units that are anticipated to vest, unless the award specifies differently. We account for such awards similar to our non-vested stock awards; however, no shares of stock are issued to the recipient until the stock unit awards have vested and after the pre-determined delivery date has occurred. Service-based non-vested stock unit compensation expense included in general and administrative expenses in our accompanying consolidated statements of operations was $1.0 million for 2015. The following table presents our service-based non-vested stock units activity for 2015: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock units at January 1, 2015 - $ 0.00 Granted 186,314 37.98 Vested 0 0 Canceled, forfeited or expired (2,982) 43.63 Non-vested stock units at December 31, 2015 183,332 $ 37.89 The weighted average grant date fair value of service-based non-vested stock units granted was $37.98 in 2015. At December 31, 2015, there was $5.9 million of unrecognized compensation cost related to our service-based non-vested stock units that we expect to be recognized over a weighted average period of 2.7 years. Non- V ested Stock Units – Service- B ased and Performance- B ased Awards During 2015, we awarded performance-based awards to certain employees. The target level established by the award, which is based on the Company's 2015 adjusted earnings before interest, taxes and depreciation (“EBITDA”), provided for the recipients to receive 154,732 non-vested stock units if the target was achieved. The target number of shares to be potentially awarded has been reduced by forfeitures as indicated in the table below. Performance-based non-vested stock units compensation expense included in general and administrative expenses in our consolidated statements of operations was $1.3 million for 2015. The following table presents our performance-based non-vested stock units activity for 2015: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock units at January 1, 2015 - $ 0.00 Granted 154,732 39.54 Vested - - Canceled, forfeited or expired (3,669) 43.63 Non-vested stock units at December 31, 2015 151,063 $ 39.44 The weighted average grant date fair value of performance-based non-vested stock units granted was $ 39.5 4 in 201 5 . At December 31, 2015 , there were $ 4.6 million in unrecognized compensation cost s related to our performance -based non-vested stock units that we expect to be recognized over a weighted average period of 2.2 years . Non- Vested Stock Units – Service-Based and Market-Based Awards During 2013 , we awarded market-based awards to certain employees. The target level established by the award, which is based on our average December 2015 stock price, provide d for the recipients to receive 417,330 non-vested stock units if the target is achieved. If the target objective is surpassed to the point of achieving the projected maximum payout, the recipients would receive 667,728 non-vested stock units. The target number of shares to be potentially awarded has been reduced by forfeitures as indicated in the table below. For market-based awards, the effect of the market condition is reflected in the fair value of the awards at the date of grant using a Monte-Carlo simulation model. A Monte-Carlo simulation model estimates the fair value of the market-based award based upon the expected term, risk-free interest rate and expected volatility. Compensation expense for market-based awards is recognized over the vesting period regardless of whether the market conditions are expected to be achieved. Market-based n on- vested stock units compensation expense included in general and administrative expenses in our accompanying consolidated statements of operations was $ 0.3 million, $0. 5 million and $0.8 million for 201 5 , 2014 and 201 3 , respectively . The fair value of the 2013 award was estimated using the following assumptions : Forward Interest Rate 0.327 % - 1.460% Expected Volatility 54.38% Requisite Service Period 3 years Fair Value $ 10.51 The following table presents our market-based non-vested stock units activity for 2015: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock units at January 1, 2015 225,745 $ 10.51 Granted - - Vested - - Canceled, forfeited or expired (61,211) 10.51 Non-vested stock units at December 31, 2015 164,534 $ 10.51 The weighted average grant date fair value of market-based non-vested stock units granted was $ 10. 51 in 201 3 . At December 31, 2015 , there were $ 0.2 million in unrecognized compensation cost s related to our market-based non-vested stock units that we expect to be recognized over a weighted average period of 0.3 years . |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 10 . COMMITMENTS AND CONTINGENCIES Legal Proceedings – Ongoing We are involved in the following legal actions: Securities Class Action Lawsuits On June 10, 2010, a putative securities class action complaint was filed in the United States District Court for the Middle District of Louisiana (the “District Court”) against the Company and certain of our current and former senior executives. Additional putative securities class actions were filed in the District Court on July 14, July 16, and July 28, 2010. On January 18, 2011, the Co-Lead Plaintiffs filed an amended, consolidated class action complaint (the “Securities Complaint”) which supersedes the earlier-filed securities class action complaints. The Securities Complaint alleges that the defendants made false and/or misleading statements and failed to disclose material facts about our business, financial condition, operations and prospects, particularly relating to our policies and practices regarding home therapy visits under the Medicare home health prospective payment system and the related alleged impact on our business, financial condition, operations and prospects. The Securities Complaint seeks a determination that the action may be maintained as a class action on behalf of all persons who purchased the Company's securities between August 2, 2005 and September 28, 2010 and an unspecified amount of damages. All defendants moved to dismiss the Securities Complaint. On June 28, 2012, the District Court granted the defendants' motion to dismiss the Securities Complaint. On July 26, 2012, the Co-Lead Plaintiffs filed a motion for reconsideration, which the District Court denied on April 9, 2013. On May 3, 2013, the Co-Lead Plaintiffs appealed the dismissal of the Securities Complaint to the United States Court of Appeals for the Fifth Circuit (the “Fifth Circuit”). On October 2, 2014, a three-judge panel of the Fifth Circuit issued a decision reversing the District Court's dismissal of the Securities Complaint. On October 16, 2014, all defendants filed a petition with the Fifth Circuit to review the three-judge panel's decision en banc , or as a whole court. On December 29, 2014, the Fifth Circuit denied the defendants' motion for en banc review of the Fifth Circuit panel's decision reversing the District Court's dismissal of the Securities Complaint. The case then returned to the District Court for further proceedings. On March 30, 2015, the defendants filed a Petition for Writ of Certiorari (the “Petition”) with the United States Supreme Court asking the Supreme Court to consider whether the Fifth Circuit erred in reversing the District Court's dismissal of the Securities Complaint. The Supreme Court denied the Petition on June 29, 2015, which did not affect the ongoing proceedings before the District Court, including the District Court's consideration of a motion filed on April 3, 2015, by the Co-Lead Plaintiffs for leave to amend the Securities Complaint, which motion was granted by the District Court. On December 15, 2015, the defendants filed a motion to dismiss the Co-Lead Plaintiffs' First Amended Consolidated Complaint. All discovery in the case is currently stayed pursuant to federal law. No assurances can be given about the timing or outcome of this matter. Wage and Hour Litigation On July 25, 2012, a putative collective and class action complaint was filed in the United States District Court for the District of Connecticut against us in which three former employees allege wage and hour law violations. The former employees claim that they were not paid overtime for all hours worked over 40 hours in violation of the Federal Fair Labor Standards Act (“FLSA”), as well as the Pennsylvania Minimum Wage Act. More specifically, they allege they were paid on both a per-visit and an hourly basis, and that such a pay scheme resulted in their misclassification as exempt employees, thereby denying them overtime pay. Moreover, in response to a Company motion arguing that plaintiffs' complaint was deficient in that it was ambiguous and failed to provide fair notice of the claims asserted and plaintiffs' opposition thereto, the Court, on April 8, 2013, held that the complaint adequately raises general allegations that the plaintiffs were not paid overtime for all hours worked in a week over 40, which may include claims for unpaid overtime under other theories of liability, such as alleged off-the-clock work, in addition to plaintiffs' more clearly stated allegations based on misclassification. On behalf of themselves and a class of current and former employees they allege are similarly situated, plaintiffs seek attorneys' fees, back wages and liquidated damages going back three years under the FLSA and three years under the Pennsylvania statute. On October 8, 2013, the Court granted plaintiffs' motion for equitable tolling requesting that the statute of limitations for claims under the FLSA for plaintiffs who opt-in to the lawsuit be tolled from September 24, 2012, the date upon which plaintiffs filed their original motion for conditional certification, until 90 days after any notice of this lawsuit is issued following conditional certification. Following a motion for reconsideration filed by the Company, on December 3, 2013, the Court modified this order, holding that putative class members' FLSA claims are tolled from October 29, 2012 through the date of the Court's order on plaintiffs' motion for conditional certification. On January 13, 2014, the Court granted plaintiffs' July 10, 2013 motion for conditional certification of their FLSA claims and authorized issuance of notice to putative class members to provide them an opportunity to opt in to the action. On April 17, 2014, that notice was mailed to putative class members. The period within which putative class members were permitted to opt into the action expired on July 16, 2014. On September 10, 2014, the plaintiffs in the Connecticut case filed a motion for leave to amend their complaint to add a new claim under the Kentucky Wage and Hour Act (“KWHA”) alleging that the Company did not pay certain home health clinicians working in the Commonwealth of Kentucky all of the overtime wages they were owed, either because the Company misclassified them as exempt from overtime or, while treating them as overtime eligible, did not properly pay them overtime for all hours worked over 40 in a week. On behalf of themselves and a class of current and former employees they allege are similarly situated, plaintiffs seek attorneys' fees, back wages and liquidated damages going back five years before the filing of their original complaint under the KWHA. On October 1, 2014, the Company filed an opposition to the plaintiffs' motion to amend. On October 15, 2014, plaintiffs filed a reply brief in support of their motion. On December 12, 2014, the Court granted the plaintiffs' motion to amend the complaint to add the claims under the KWHA. The Company and the plaintiffs agreed to explore the possibility of a mediated settlement of the Connecticut case, and on February 23, 2015 filed a joint motion to stay proceedings for six months to pursue that process, which was granted by the Court on February 24, 2015. On June 10, 2015, the Company and plaintiffs participated in a mediation whereby they agreed to fully resolve all of plaintiffs' claims in the lawsuit for $8.0 million, subject to approval by the Court. The settlement agreement will be submitted to the Court for preliminary approval and plaintiffs will request certification of Pennsylvania and Kentucky classes for the sole purpose of this proposed settlement. If the Court grants preliminary approval, notice will be issued to members of the settlement classes to provide them with an opportunity to object to the settlement and, in the case of members of the Pennsylvania and Kentucky classes, opt out of the settlement. Following this notice period, the Court will hold a final fairness hearing for the purpose of considering objections and deciding whether to grant final approval of the settlement. As of September 30 , 2015, we ha d an accrual of $8.0 million for this matter. On January 29, 2016, the Court approved the final settlement of this case. The settlement became effective on February 26, 2016. As a result of the final amount calculated by the settlement administrator based on claims timely submitted, we have reduced our accrual to $5.3 million as of December 31, 2015. On September 13, 2012, a putative collective and class action complaint was filed in the United States District Court for the Northern District of Illinois against us in which a former employee alleges wage and hour law violations. The former employee claims she was paid on both a per-visit and an hourly basis, and that such a pay scheme resulted in her misclassification as an exempt employee, thereby denying her overtime. The plaintiff alleges violations of f ederal and state law and seeks damages under the FLSA and the Illinois Minimum Wage Law. Plaintiff seeks class certification of similar employees who were or are employed in Illinois and seeks attorneys' fees, back wages and liquidated damages going back three years under the FLSA and three years under the Illinois statute. On May 28, 2013, the Court granted the Company's motion to stay the case pending resolution of class certification issues and dispositive motions in the earlier-filed Co nnecticut case referenced above. On December 23, 2015 the parties agreed to explore the possibility of a mediated settlement of the Illinois case, and a mediation is scheduled to occur on April 18, 2016. We are unable to assess the probable outcome or reasonably estimate the potential liability, if any, arising from the securities litigation described above. The Company intends to continue to vigorously defend itself in the securities litigation matter but, if decided adverse to the C ompany, its impact could be material. No assurances can be given as to the timing or outcome of the securities matter described above or the impact of any of the inquiry or litigation matters on the Company, its consolidated financial condition, results of operations or cash flows, which could be material, individually or in the aggregate. Frontier Litigation On April 2, 2015, Frontier Home Health and Hospice, L.L.C. (“Frontier”) filed a complaint against us in the United States District Court for the District of Connecticut alleging breach of contract, negligent misrepresentation and unfair and deceptive trade practices under Conn. Gen. Stat. §42-110b. Frontier acquired our interest in five home health and four hospice care centers in Wyoming and Idaho in April 2014. The complaint alleges that certain of the hospice patients on service at the time of the acquisition did not meet Medicare eligibility requirements and that we breached certain of the representations and warranties under the purchase agreement and therefore, the businesses were worth less than the purchase price. Under the complaint, Frontier seeks declaratory judgment from the District Court that, under the terms of the purchase agreement with Frontier, we are obligated to determine the amount of the alleged Medicare overpayments and reimburse the government for the same in a timely manner, as well as unspecified compensatory and punitive damages, attorneys' fees and pre- and post-judgment interest. We are unable to assess the probable outcome or reasonably estimate the potential liability, if any, arising from the Frontier litigation described above. The Company has engaged an independent auditing firm to perform a clinical audit of the hospice locations in question and intends to defend itself in the Frontier litigation matter. No assurances can be given as to the timing or outcome of the audit, the Frontier litigation matter described above or the impact of any of the audit or litigation matters on the Company, its consolidated financial condition, results of operations or cash flows, which could be material, individually or in the aggregate. In accordance with our corporate integrity agreement (“ CIA ”) with the Office of Inspector General-HHS (“OIG”) as discussed below under “Other Investigative Matters – Corporate Integrity Agreement” , we have notified the OIG of this matter. Subpoena Duces Tecum Issued by the U.S. Department of Justice On May 21, 2015, we received a Subpoena Duces Tecum (“Subpoena”) issued by the U.S. Department of Justice. The Subpoena requests the delivery of information regarding 53 identified hospice patients to the United States Attorney's Office for the District of Massachusetts. It also requests the delivery of documents relating to our hospice clinical and business operations and related compliance activities. The Subpoena generally covers the period from January 1, 2011, through the present. We are fully cooperating with the U.S. Department of Justice with respect to this investigation. No assurance can be given as to the timing or outcome of this investigation. Civil Investigative Demand Issued by the U.S. Department of Justice On November 3, 2015, we received a civil investigative demand (“CID”) issued by the U.S. Department of Justice pursuant to the federal False Claims Act relating to claims submitted to Medicare and/or Medicaid for hospice services provided through designated facilities in the Morgantown, West Virginia area. The CID requests the delivery of information to the United States Attorney's Office for the Northern District of West Virginia regarding 66 identified hospice patients, as well as documents relating to our hospice clinical and business operations in the Morgantown area. The CID generally covers the period from January 1, 2009 through August 31, 2015. We are fully cooperating with the U.S. Department of Justice with respect to this investigation. No assurance can be given as to the timing or outcome of this investigation . In addition to the matters referenced in this note, we are involved in legal actions in the normal course of business, some of which seek monetary damages, including claims for punitive damages. We do not believe that these normal course actions, when finally concluded and determined, will have a material impact on our consolidated financial condition, results of operations or cash flows. Legal Proceedings – Settled Shareholder Derivative Action On August 24, 2015, Michael Bonhette , an alleged shareholder of the Company filed a derivative lawsuit in the United States District Court for the Middle District of Louisiana, purporting to assert claims on behalf of the Company against certain of our officers and directors. We were named as a nominal defendant in this action. The derivative complaint alleged that certain of our officers and directors breached their fiduciary duties to the Company by agreeing to allegedly unlawful provisions in the Company's Credit Agreement dated as of October 22, 2012, as amended (the “Prior Credit Agreement”), and the Company's Second Lien Credit Agreement dated as of July 28, 2014 (the “Second Lien Credit Agreement”). Each of the Prior Credit Agreement and the Second Lien Credit Agreement were terminated on August 28, 2015. On October 14, 2015, the United Stated District Court for the Middle District of Louisiana issued an order granting a motion for dismissal voluntarily filed by the plaintiffs in this matter. Effective as of such date, the derivative lawsuit was dismissed without prejudice and at the cost of the plaintiffs. Other Investigative Matters Corporate Integrity Agreement On April 23, 2014, with no admissions of liability on our part, we entered into a settlement agreement with the U.S. Department of Justice relating to certain of our clinical and business operations. Concurrently with our entry into th is agreement, we entered into a corporate integrity agreement (“ CIA ”) with the Office of Inspector General-HHS (“OIG”) . The CIA formalizes various aspects of our already existing ethics and compliance programs and contains other requirements designed to help ensure our ongoing compliance with federal health care program requirements. Among other things, the CIA requires us to maintain our existing compliance program, executive compliance committee and compliance committee of the Board of Directors; provide certain compliance training; continue screening new and current employees to ensure they are eligible to participate in federal health care programs; engage an independent review organization to perform certain auditing and reviews and prepare certain reports regarding our compliance with federal health care programs, our billing submissions to federal health care programs and our compliance and risk mitigation programs; and provide certain reports and management certifications to the OIG. Additionally, the CIA specifically requires that we report substantial overpayments that we discover we have received from federal health care programs, as well as probable violations of federal health care laws. Upon breach of the CIA, we could become liable for payment of certain stipulated penalties, or could be excluded from participation in federal health care programs. The corporate integrity agreement has a term of five years. During the course of our compliance with the CIA we have identified several such reportable events and have notified the OIG as required. The final resolution of these matters is still pending. As of December 31, 2015, we have an accrual in the amount of $4.7 million to cover all repayments of extrapolated overpayments, damages and penalties that we believe could be assessed. Computer Inventory and Data Security Reporting On March 1 and March 2, 2015, we provided official notice under f ederal and state data privacy laws concerning the outcome of an extensive risk management process to locate and verify our large computer inventory. The process identified approximately 142 encrypted computers and laptops for which reports were required under f ederal and state data privacy laws. The devices at issue were originally assigned to Company clinicians and other team members who left the Company between 2011 and 2014. We reported these devices to the U.S. Department of Health and Human Services, state agencies, and individuals whose information may be involved, as required under applicable law because we could not rule out unauthorized access to patient data on the devices. The Office of Civil Rights, U.S. Department of Health and Human Services (“OCR”) is reviewing our compliance with applicable laws, as is typical for any data breach involving more than 500 individuals. We are cooperating with OCR in its review and if any other regulatory reviews are formally commenced, will cooperate with applicable regulatory authorities. In accordance with our CIA, we have notified the OIG of this matter. Third Party Audits From time to time, in the ordinary course of business, we are subject to audits under various governmental programs in which third party firms engaged by CMS conduct extensive review of claims data to identify potential improper payments under the Medicare program. In January 2010, our subsidiary that provides home health services in Dayton, Ohio received from a Medicare Program Safeguard Contractor (“PSC”) a request for records regarding 137 claims submitted by the subsidiary paid from January 2, 2008 through November 10, 2009 (the “Claim Period”) to determine whether the underlying services met pertinent Medicare payment requirements. Based on the PSC's findings for 114 of the claims, which were extrapolated to all claims for home health services provided by the Dayton subsidiary paid during the Claim Period, on March 9, 2011, the Medicare Administrative Contractor (“MAC”) for the subsidiary issued a notice of overpayment seeking recovery from our subsidiary of an alleged overpayment of approximately $5.6 million. We dispute these findings, and our Dayton subsidiary has filed appeals through the Original Medicare Standard Appeals Process, in which we are seeking to have those findings overturned. A consolidated administrative law judge (“ALJ”) hearing was held in late March 2013. In January 2014, the ALJ found fully in favor of our Dayton subsidiary on 74 appeals and partially in favor of our Dayton subsidiary on eight appeals. Taking into account the ALJ's decision, certain determinations that our Dayton subsidiary decided not to appeal as well as certain determinations made by the MAC, of the 114 claims that were originally extrapolated by the MAC, 76 claims have now been decided in favor of our Dayton subsidiary in full, 10 claims have been decided in favor of our Dayton subsidiary in part, and 28 claims have been decided against or not appealed by our Dayton subsidiary. The ALJ has ordered the MAC to recalculate the extrapolation amount based on the ALJ's decision. The Medicare Appeals Council can decide on its own motion to review the ALJ's decisions. As of December 31, 2015 , we have recorded no liability with respect to the pending appeals as we do not believe that an estimate of a reasonably possible loss or range of loss can be made at this time. In July 2010, our subsidiary that provides hospice services in Florence, South Carolina received from a Zone Program Integrity Contractor (“ZPIC”) a request for records regarding a sample of 30 beneficiaries who received services from the subsidiary during the period of January 1, 2008 through March 31, 2010 (the “Review Period”) to determine whether the underlying services met pertinent Medicare payment requirements. We acquired the hospice operations subject to this review on August 1, 2009; the Review Period covers time periods both before and after our ownership of these hospice operations. Based on the ZPIC's findings for 16 beneficiaries, which were extrapolated to all claims for hospice services provided by the Florence subsidiary billed during the Review Period, on June 6, 2011, the MAC for the subsidiary issued a notice of overpayment seeking recovery from our subsidiary of an alleged overpayment. We dispute these findings, and our Florence subsidiary has filed appeals through the Original Medicare Standard Appeals Process, in which we are seeking to ha ve those findings overturned. A n ALJ hearing was held in early January 2015. On January 18, 2016 we received a letter dated January 6, 2016 referencing the ALJ hearing decision for the overpayment issued on June 6, 2011. The decision was partially favorable with a new overpayment amount of $3.7 million with a balance owed of $5.6 million including interest based on 9 disputed claims (originally 16). We filed an appeal to the Medicare Appeals Council on the remaining 9 disputed claims and also argued that the statistical method used to select the sample was not valid. No assurances can be given as to the timing or outcome of the Medicare Appeals Council decision. In the event we pay any amount of this alleged overpayment, we are indemnified by the prior owners of the hospice operations for amounts relating to the period prior to August 1, 2009. As of December 31, 2015 , we have recorded no liability for this claim as we do not believe that an estimate of a reasonably possible loss or range of loss can be made at this time . Operating Leases We have leased office space at various locations under non-cancelable agreements that expire between 201 6 and 20 2 6 , and require various minimum annual rentals. Our typical operating leases are for lease terms of one to seven years and may include, in addition to base rental amounts, certain landlord pass-through costs for our pro-rata share of the lessor's real estate taxes, utilities and common area maintenance costs. Some of our operating leases contain escalation clauses, in which annual minimum base rentals increase over the term of the lease. Total minimum rental commitments as of December 31, 2015 are as follows (amounts in millions): 2016 $ 23.5 2017 16.0 2018 11.2 2019 7.4 2020 4.3 Future years 5.5 Total $ 67.9 Rent expense for non-cancelable operating leases was $23.7 million, $26.5 million and $29.8 million for 2015, 2014 and 2013. Insurance We are obligated for certain costs associated with our insurance programs, including employee health, workers' compensation and professional liability. While we maintain various insurance programs to cover these risks, we are self-insured for a substantial portion of our potential claims. We recognize our obligations associated with these costs , up to specified deductible limits in the period in which a claim is incurred, including with respect to both reported claims and claims incurred but not reported . These costs have generally been estimated based on historical data of our claims experience. Such estimates, and the resulting reserves, are reviewed and updated by us on a quarterly basis. The following table presents details of our insurance programs, including amounts accrued for the periods indicated (amounts in millions) in accrued expenses in our accompanying balance sheets. The amounts accrued below represent our total estimated liability for individual claims that are less than our noted insurance coverage amounts, which can include outstanding claims and claims incurred but not reported. As of December 31, Type of Insurance 2015 2014 Health insurance $ 11.7 $ 11.2 Workers' compensation 23.9 20.8 Professional liability 4.1 3.9 39.7 35.9 Less: long-term portion (0.9) (1.0) $ 38.8 $ 34.9 The retention limit per claim for our health insurance, worker's compensation and professional liability is $0.9 million, $0.5 million and $0.3 million, respectively. Employment Contracts We have commitments related to employment contracts with a number of our senior executives. These contracts generally commit us to pay severance benefits under certain circumstances. Other We are subject to various other types of claims and disputes arising in the ordinary course of our business. While the resolution of such issues is not presently determinable, we believe that the ultimate resolution of such matters will not have a significant effect on our consolidated financial condition, results of operations and cash flows. |
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS | 12 Months Ended |
Dec. 31, 2015 | |
Pension and Other Postretirement Benefits Disclosure [Abstract] | |
EMPLOYEE BENEFIT PLANS | 11. EMPLOYEE BENEFIT PLANS 401(K) Benefit Plan We maintain a plan qualified under Section 401(k) of the Internal Revenue Code for all employees who have reached 21 years of age, effective the first month after hire date. Under the plan, eligible employees may elect to defer a portion of their compensation, subject to Internal Revenue Service limits. During 2015 , 2014 and 2013 , our match of contributions to be made to each eligible employee contribution is $0.375 for every $1.00 of contribution made up to the first 6% of their salary. The match is discretionary and thus is subject to change at the discretion of management. These contributions are made in the form of our common stock, valued based upon the fair value of the stock as of the end of each calendar quarter end. We expensed approximately $ 6.1 m illion, $ 6.2 million and $ 7.8 million for 2015 , 2014 and 2013 , respectively. Deferred Compensation Plan We h ad a Deferred Compensation Plan for additional tax-deferred savings to a select group of management or highly compensated employees. Amounts credited under the Deferred Compensation Plan were funded into a rabbi trust, which is managed by a trustee. The trustee has the discretion to manage the assets of the Deferred Compensation Plan as deemed fit, thus the assets are not necessarily reflective of the same investment choices made by the participants. Effective January 1, 2015, all prospective salary deferrals ceased . Participants will be allowed to make transactions with any remaining account balances as they wish per plan guidelines. |
SHARE REPURCHASE PROGRAM
SHARE REPURCHASE PROGRAM | 12 Months Ended |
Dec. 31, 2015 | |
EquityAbstract | |
Treasury Stock | 12. S TOCK REPURCHASE PROGRAM On September 9, 2015 , we announced that our Board of Directors authorized a stock repurchase program, under which we may repurchase up to $ 75 million of our outstanding common stock. Purchases may be made from time to time in open market transactions, block purchases or in private transactions in accordance with applicable federal securities laws and other legal requirements. We may enter into Rule 10b5-1 plans to effect some or all of the repurchases. The stock repurchase program is scheduled to expire on September 6, 2016. The timing and the amount of the repurchases, if any, will be determined by management based on a number of factors, including but not limited to share price, trading volume and general market conditions, as well as on working capital requirements, general business conditions and other factors. During 2015 , pursuant to this program, we repurchased 116,859 shares of our common stock at a weighted average price of $ 39.20 per share and a total cost of approximately $ 4.6 million. The repurchased shares are classified as treasury shares. |
EXIT ACTIVITIES
EXIT ACTIVITIES | 12 Months Ended |
Dec. 31, 2015 | |
Restructuring and Related Activities | |
EXIT ACTIVITIES | 13 . EXIT AND RESTRUCTURING ACTIVITIES As of December 31, 201 3 , we reported three home health care centers as held for sale. During 201 4 , we sold assets associated with two of these care centers for cash consideration of approximately $0.8 million and recognized a gain of approximately $0.8 million which is included in discontinued operations. The remaining care center classified as held for sale was consolidated with a care center servicing the same market during 201 4 . During 201 4 , the Company sold its interest in five home health and four hospice care c enters in Wyoming and Idaho for approximately $5.0 million and recognized a gain of $2.1 million. We also exited our hospice inpatient unit in New Hampshire and recognized a loss of $0.5 million. In addition to the exit activity related to the care centers mentioned above, we consolidated 21 operating home health care centers and four operating hospice care centers with care centers servicing the same markets and closed 22 home health care centers and four hospice care centers during 201 4 . In connection with these care centers, we recorded non-cash charges of $2.2 million in other intangibles impairment expense related to the write-off of intangible assets, $2.1 million in other general and administrative expenses related to lease termination costs and $2.1 million in salaries and benefits related to severance costs. These care centers were not concentrated in certain selected geographical areas and did not meet the criteria to be classified as discontinued operations in accordance with applicable accounting guidance. D uring 2013 , we sold assets associated with two home health care centers in Alaska and Washington, as well as a hospice care center in Washington for cash consideration of approximately $1.6 million and recognized a gain of approximately $1.0 million which is included in discontinued operations. We also sold our membership interest in one of our unconsolidated joint ventures for cash consideration of approximately $0.5 million and recognized a loss of approximately $0.7 million, which is included in other income (expense). We also reported 28 care centers as held for sale and sold assets associated with 17 of these home health care centers for cash consideration of approximately $1.4 million and recognized a gain of approximately $0.7 million which is included in discontinued operations. We closed eight of our home health care centers previously classified as held for sale and recorded charges of $0.1 million for the write-off of intangible assets and $0.5 million related to lease termination costs which are included in discontinued operations. Three of these home health care centers remained classified as held for sale as of December 31, 2013. In addition to the sale and available for sale care centers mentioned above, we consolidated 41 operating home health care center s and five operating hospice care center s with care centers servicing the same markets and closed two home health care centers as of December 31, 2013. In connection with these care centers, we recorded charges of $3.6 million in goodwill and other intangibles impairment expense related to the write-off of intangible assets, $1.5 million in other general and administrative expenses related to lease termination costs and $1.8 million in salaries and benefits related to severance costs during 2013. The care centers that were closed or sold in 2013 are presented in discontinued operations in our consolidated financial statements. See Note 4 – Discontinued Operations and Assets Held For Sale for additional information. Restructuring Activity During 201 4 , we restructured our regional leadership and corporate support functions. As such, we recorded charges of $3.4 million in salaries and benefits related to severance costs. In addition, during 2014 , William F. Borne stepped down from his positions as Chief Executive Officer, Chairman and a member of our Board of Directors and we recorded charges of $2.3 million in salaries and benefits related to severance costs. Our reserve activity for our 2014 and 2013 exit and restructuring activity is as follows (amounts in millions): 2014 Exit Activity 2013 Exit Activity Lease Termination Severance Lease Termination Severance Balances at December 31, 2012 $ 0.0 $ 0.0 $ 0.0 $ 0.0 Charge in 2013 0.0 0.0 2.0 1.8 Cash expenditures in 2013 0.0 0.0 (0.5) (0.5) Balances at December 31, 2013 0.0 0.0 1.5 1.3 Charge in 2014 2.1 7.8 0.0 0.0 Cash expenditures in 2014 (1.6) (5.5) (1.2) (1.3) Balances at December 31, 2014 0.5 2.3 0.3 0.0 Charge in 2015 0.0 0.0 0.0 0.0 Cash expenditures in 2015 (0.4) (1.9) (0.2) 0.0 Balances at December 31, 2015 $ 0.1 $ 0.4 $ 0.1 $ 0.0 |
VALUATION AND QUALIFYING ACCOUN
VALUATION AND QUALIFYING ACCOUNTS | 12 Months Ended |
Dec. 31, 2015 | |
Valuation And Qualifying Accounts [Abstract] | |
VALUATION AND QUALIFYING ACCOUNTS | 14. VALUATION AND QUALIFYING ACCOUNTS The following table summarizes the activity and ending balances in our allowance for doubtful accounts and estimated revenue adjustments (amounts in millions): Allowance for Doubtful Accounts Year End Balance at Beginning of Year Provision for Doubtful Accounts (1) Write-Offs Balance at End of Year 2015 $ 14.3 $ 14.1 $ (11.9) $ 16.5 2014 14.2 16.4 (16.3) 14.3 2013 21.0 16.4 (23.2) 14.2 (1) Includes $0.1 million and $0.6 million from discontinued operations for the years ended December 31, 2014 and 2013, respectively. Estimated Revenue Adjustments Year End Balance at Beginning of Year Provision for Estimated Revenue Adjustments (1) Write-Offs Balance at End of Year 2015 $ 3.1 $ 6.1 $ (5.2) $ 4.0 2014 3.9 5.1 (5.9) 3.1 2013 6.4 9.4 (11.9) 3.9 (1) Includes $0.1 million and $0.4 million from discontinued operations for the years ended December 31, 2014 and 2013, respectively. |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | 15 . Segment Information Our operations involve servicing patients through our two reportable business segments: home health and hospice. Our home health segment delivers a wide range of services in the homes of individuals who may be recovering from surgery, have a chronic disability or terminal illness or need assistance with the essential activities of daily living. Our hospice segment provides palliative care and comfort to terminally ill patients and their families. The “other” column in the following tables consist s of costs relating to executive management and administrative support functions , primarily information services, accounting, finance, billing and collections, legal, compliance, risk management, procurement, marketing, clinical administration, training, human resources and administration . M anagement evaluates performance and allocates resources based on the operating income of the reportable segments, which includes an allocation of corporate expenses directly attribu table to the specific segment and includes revenues and all other costs directly attributable to the specific segment . Segment assets are not reviewed by the company's chief operating decision maker and therefore are not disclosed below (amounts in millions). For the Year Ended December 31, 2015 Home Health Hospice Other Total Net service revenue $ 1,005.1 $ 275.4 $ 0.0 $ 1,280.5 Cost of service, excluding depreciation and amortization 584.2 141.7 0.0 725.9 General and administrative expenses 263.2 62.7 126.5 452.4 Provision for doubtful accounts 12.2 1.9 0.0 14.1 Depreciation and amortization 5.2 1.4 13.4 20.0 Goodwill and other intangibles impairment charge 0.0 0.0 77.3 77.3 Operating expenses 864.8 207.7 217.2 1,289.7 Operating income (loss) $ 140.3 $ 67.7 $ (217.2) $ (9.2) For the Year Ended December 31, 2014 Home Health Hospice Other Total Net service revenue $ 956.9 $ 247.6 $ 0.0 $ 1,204.5 Cost of service, excluding depreciation and amortization 559.4 131.7 0.0 691.1 General and administrative expenses 269.0 58.3 114.4 441.7 Provision for doubtful accounts 14.8 1.5 0.0 16.3 Depreciation and amortization 9.0 2.1 17.2 28.3 Goodwill and other intangibles impairment charge 1.6 1.5 0.0 3.1 Operating expenses 853.8 195.1 131.6 1,180.5 Operating income (loss) $ 103.1 $ 52.5 $ (131.6) $ 24.0 For the Year Ended December 31, 2013 Home Health Hospice Other Total Net service revenue $ 987.7 $ 261.6 $ 0.0 $ 1,249.3 Cost of service, excluding depreciation and amortization 578.9 139.1 0.0 718.0 General and administrative expenses 304.8 64.7 104.5 474.0 Provision for doubtful accounts 10.2 5.7 0.0 15.9 Depreciation and amortization 10.3 2.1 24.5 36.9 U.S. Department of Justice settlement 0.0 0.0 150.0 150.0 Goodwill and other intangibles impairment charge 8.5 1.0 0.0 9.5 Operating expenses 912.7 212.6 279.0 1,404.3 Operating income (loss) $ 75.0 $ 49.0 $ (279.0) $ (155.0) |
UNAUDITED SUMMARIZED QUARTERLY
UNAUDITED SUMMARIZED QUARTERLY FINANCIAL INFORMATION | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information [Abstract] | |
UNAUDITED SUMMARIZED QUARTERLY FINANCIAL INFORMATION | 16. UNAUDITED SUMMARIZED QUARTERLY FINANCIAL INFORMATION Net Income (Loss) Attributable to Amedisys, Inc. Common Stockholders (1) Revenue Net Income (Loss) Attributable to Amedisys, Inc. Basic Diluted 2015: 1st Quarter (2) (3) $ 301.6 $ (35.0) $ (1.07) $ (1.07) 2nd Quarter (3) 314.1 10.6 0.32 0.32 3rd Quarter (2) (3) (5) 326.4 8.4 0.25 0.25 4th Quarter (3) (4) (5) 338.4 12.9 0.39 0.38 $ 1,280.5 $ (3.0) $ (0.09) $ (0.09) 2014: 1st Quarter (6) (7) $ 298.7 $ (12.4) $ (0.39) $ (0.39) 2nd Quarter (8) (9) 305.0 7.6 0.24 0.23 3rd Quarter (9) (10) 300.3 8.4 0.26 0.26 4th Quarter (6) 300.5 9.1 0.28 0.28 $ 1,204.5 $ 12.8 $ 0.39 $ 0.39 Because of the method used in calculating per share data, the quarterly per share data may not necessarily total to the per share data as computed for the entire year. During the first quarter of 2015, we rec orded a n on-cash asset impairment charge to write-off the software costs incurred related to the development of AMS3 Home Health and Hospice in the amount of $ 45.5 million, net of income taxes. During the third quarter of 2015, we recorded a non-cash asset impairment charge related to our corporate headquarters in the amount of $ 1.2 million, net of income taxes. During each of the four quarters of 2015, we incurred certain costs associate d with various legal matters. Net of income taxes, these costs amounted to $ 1.3 million, $ 4.8 million, $ 0.2 million and $ (1 . 1) million for the three-month periods ended March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015, respectively. During the fourth quarter of 2015, we recorded an accrual related to an OIG Self-Disclosure matter. Net of income taxes, this charge amounted to $ 3 . 4 million. During the third and fourth quarters of 2015, we incurred certain costs associated with the implementation of Homecare Homebase . Net of income taxes, these costs a mounted to $ 1.2 million and $ 1.4 million for the three-month periods ended September 30, 2015 and December 31, 2015, respectively. During the first and fourth quarters of 2014, we recognized non-cash other intangibles impairment charges of $ 1.4 million and $ 0.6 million, net of income tax es . During the first quarter of 2014, we recorded charge s for the accrual of various relators' attorneys' fees and expenses in connection with the settlement agreement to resolve the U.S. Department of Justice investigation and the Stark Law Self-Referral matter and exit and restructuring activity costs . Net of income taxes, th ese charge s amounted to $ 2.4 million and $ 6.1 million, respectively . During the second quarter of 2014, we recorded an accrual related to an OIG Self-Disclosure matter. Net of income taxes, this charge amounted to $ 0. 9 million. Additionally, our results included a software write-off in the amount of $ 0.9 million, net of income taxes. Our results for the second quarter of 2014, included a gain related to the sale of care centers in the amount of $ 1.3 million, net of income taxes. Our results for the three months ended September 30, 2014, included a loss rel ated to the disposal of our in-patient facility in the amount of $0.3 million, net of income taxes . During the third quarter of 2014, we recorded a charge related to the write-off of deferred financing fees in the amount of $ 0.3 million, net of income taxes . |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | On March 1, 2016, we acquired Associated Home Care, a private-duty home healthcare company with nine care centers for a purchase price of $ 28 million . |
NATURE OF OPERATIONS, CONSOLI25
NATURE OF OPERATIONS, CONSOLIDATION AND PRESENTATION OF FINANCIAL STATEMENTS (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Use of Estimates | Use of Estimates Our accounting and reporting policies conform with U.S. G enerally Accepted Accounting Principles (“U.S. G AAP ”) . In preparing the consolidated financial statements, we are required to make estimates and assumptions that impact the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. |
Reclassifications and Comparability | Reclassifications and Comparability Certain reclassifications have been made to prior periods' financial statements in order to conform to the current period' s presentation . Our exit activity during the last three years may affect the comparability of our operating results . I n accordance with applicable accounting guidance , the results of operations for the care centers closed, sold or classified as held for sale during 2013 are presented in discontinued operations in our consolidated financial statements. See Note 4 – Discontinued Operations and Assets Held for Sale for additional information regarding our discontinued operations. |
Principles of Consolidation | Principles of Consolidation These consolidated financial statements include the accounts of Amedisys, Inc. , and our wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in our accompanying consolidated financial statements, and business combinations accounted for as purchases have been included in our consolidated financial statements from their respective dates of acquisition. In addition to our wholly owned subsidiaries, we also have certain equity investments that are accounted for as set forth below . |
Equity Investments | Equity Investments We consolidate investments when the entity is a variable interest entity and we are the primary beneficiary or if we have controlling interests in the entity, which is generally ownership in excess of 50 %. During 2013, we recorded a $1.3 million goodwill impairment charge related to an investment that was consolidated . Third party equity interests in our consolidated joint ventures are reflected as noncontrolling interests in our consolidated financial statements. We account for investments in entities in which we have the ability to exercise significant influence under the equity method if we hold 50 % or less of the voting stock and the entity is not a variable interest entity in which we are the primary beneficiary. The book value of investments that we accounted for under the equity method of accounting was $ 25.7 million as of December 31 , 2015 and $ 18.8 m illion as of December 31, 2014 . During 2015, our investment in the Heritage Healthcare Innovation Fund, LP (“Heritage”), one of our equity method investees with a carrying value of $19.9 million as of December 31, 2015, became a significant subsidiary. Summarized financial information of Heritage as of and for the twelve-month period ended September 30, 2015, is as follows: current assets of $3.5 million, total assets of $170.4 million, current and total liabilities of less than $0.1 million, total investment income of $72.5 million, total expenses of $3.5 million and net increase in partners' capital from operations of $69.0 million. We record our share of the investment on a one quarter lag. We account for investments in entities in which we have less than a 20 % ownership interest under the cost method of accounting if we do not have the ability to exercise significant influence over the investee. The aggregate carrying amount of our cost method investment which was sold during 2015 was $ 5.0 million as of December 31 , 2014. |
Revenue Recognition | Revenue Recognition We earn net service revenue through our home health and hospice care center s by providing a variety of services almost exclusively in the homes of our patients. This net service revenue is earned and billed either on an episode of care basis, on a per visit basis or on a daily basis depending upon the payment terms and conditions established with each payor for services provided. We refer to home health revenue earned and billed on a 60 -day episode of care as episodic-based revenue. When we record our service revenue, we record it net of estimated revenue adjustments and contractual adjustments to reflect amounts we estimate to be realizable for services provided, as discussed below. We believe, based on information currently available to us and based on our judgment, that changes to one or more factors that impact the accounting estimates (such as our estimates related to revenue adjustments, contractual adjustments and episodes in progress) we make in determining net service revenue, which changes are likely to occur from period to period, will not materially impact our reported consolidated financial condition, results of operations, cash flows or our future financial results. Home Health Revenue Recognition Medicare Revenue Net service revenue is recorded under the Medicare prospective payment system (“PPS”) based on a 60-day episode payment rate that is subject to adjustment based on certain variables including, but not limited to: (a) an outlier payment if our patient's care was unusually costly (capped at 10% of total reimbursement per provider number); (b) a low utilization payment adjustment (“LUPA”) if the number of visits was fewer than five; (c) a partial payment if our patient transferred to another provider or we received a patient from another provider before completing the episode; (d) a payment adjustment based upon the level of therapy services required (with various incremental adjustments made for additional visits, with larger payment increases associated with the sixth, fourteenth and twentieth visit thresholds); (e) adjustments to payments if we are unable to perform periodic therapy assessments; (f) the number of episodes of care provided to a patient, regardless of whether the same home health provider provided care for the entire series of episodes; (g) changes in the base episode payments established by the Medicare Program; (h) adjustments to the base episode payments for case mix and geographic wages; and ( i ) recoveries of overpayments. In addition, we make adjustments to Medicare revenue if we find that we are unable to produce appropriate documentation of a face to face encounter between the patient and physician. We make adjustments to Medicare revenue to reflect differences between estimated and actual payment amounts, our discovered inability to obtain appropriate billing documentation or authorizations and other reasons unrelated to credit risk. We estimate the impact of such adjustments based on our historical experience, which primarily includes a historical collection rate of over 99 % on Medicare claims, and record this estimate during the period in which services are rendered as an estimated revenue adjustment and a corresponding reduction to patient accounts receivable. Therefore, we believe that our reported net service revenue and patient accounts receivable will be the net amounts to be realized from Medicare for services rendered. In addition to revenue recognized on completed episodes, we also recognize a portion of revenue associated with episodes in progress. Episodes in progress are 60 -day episodes of care that begin during the reporting period, but were not completed as of the end of the period. We estimate this revenue on a monthly basis based upon historical trends. The primary factors underlying this estimate are the number of episodes in progress at the end of the reporting period, expected Medicare revenue per episode and our estimate of the average percentage complete based on visits performed. As of December 31, 2015 and 2014 , the difference between the cash received from Medicare for a request for anticipated payment (“RAP”) on episodes in progress and the associated estimated revenue was immaterial and, therefore, the resulting credits were recorded as a reduction to our outstanding pa tient accounts receivable in our consolidated balance sheets for such periods. Non-Medicare Revenue Episodic-based Revenue. We recognize revenue in a similar manner as we recognize Medicare revenue for episodic-based rates that are paid by other insurance carriers, including Medicare Advantage programs; however, these rates can vary based upon the negotiated terms. Non-episodic b ased Revenue. Gross revenue is recorded on an accrual basis based upon the date of service at amounts equal to our established or estimated per-visit rates, as applicable. Contractual adjustments are recorded for the difference between our standard rates and the contracted rates to be realized from patients, third parties and others for services provided and are deducted from gross revenue to determine net service revenue and are also recorded as a reduction to our outstanding patient accounts receivable. In addition, we receive a minimal amount of our net service revenue from patients who are either self-insured or are obligated for an insurance co-payment. Hospice Revenue Recognition Hospice Medicare Revenue Gross revenue is recorded on an accrual basis based upon the date of service at amounts equal to the estimated payment rates. The estimated payment rates are daily or hourly rates for each of the four levels of care we deliver. The four levels of care are routine care, general inpatient care, continuo us home care and respite care. Routine care accounts for 99 %, 98 %, and 99% of our total net Medic are hospice service revenue for 2015 , 2014 and 2013, respectively . We make adjustments to Medicare revenue for an inability to obtain appropriate billing documentation or acceptable authorizations and other reasons unrelated to credit risk. We estimate the impact of these adjustments based on our historical experience, which primarily includes our historical collection rate on Medicare claims, and record it during the period services are rendered as an estimated revenue adjustment and as a reduction to our outstanding patient accounts receivable. Additionally, as Medicare hospice revenue is subject to an inpatient cap limit and an overall payment cap for each provider number, we monitor these caps and estimate amounts due back to Medicare if we estimate a cap has been exceeded. We record these adjustments as a reduction to revenue and an increase in other accrued liabilities. Beginning for the cap year ending October 31, 2014, providers are required to self-report and pay their estimated cap liability by March 31 st of the following year. As of December 31, 2015, we have settled our Medicare hospice reimbursements for all fiscal years through October 31, 20 12 and we have recorded $ 1.4 million for estimated amounts due back to Medicare in other accrued liabilities for the Federal cap years ended October 31, 201 3 through October 31, 201 6 . As of December 31, 201 4 , we had recorded $ 2 . 8 million for estimated amounts due back to Medicare in other accrued liabilities for the Federal cap years ended October 31, 201 3 through October 31, 201 5 . Hospice Non-Medicare Revenue We record gross revenue on an accrual basis based upon the date of service at amounts equal to our established rates or estimated per day rates, as applicable. Contractual adjustments are recorded for the difference between our established rates and the amounts estimated to be realizable from patients, third parties and others for services provided and are deducted from gross revenue to determine our net service revenue and patient accounts receiv able. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include certificates of deposit and all highly liquid debt instruments with maturities of three months or less when purchased . |
Patient Accounts Receivable | Patient Accounts Receivable Our patient accounts receivable are uncollateralized and consist of amounts due from Medicare, Medicaid, other t hird-party payors and patients. As of December 31, 2015, there is one s ingle payor , other than Medicare, that accounts for more than 10 % of our total outstanding patient receivables (approximately 10.5 %). T hus , we believe there are no other significant concentrations of receivables that would subject us to any significant credit risk in the collection of our patient accounts receivable. We fully reserve for accounts which are aged at 36 5 days or greater. We write off accounts on a monthly basis once we have exhausted our collection efforts and deem an account to be uncollectible. We believe the credit risk associated with our Medicare accounts , which represent 6 4 % and 6 9 % of our net patient accounts receivable at December 31, 2015 and December 31, 2014 , respectively, is limited due to our historical collection rate of over 99 % from Medicare and the fact that Medicare is a U.S. government payor . Accordingly, we do not record an allowance for doubtful accounts for our Medicare patient accounts receivable, which are recorded at their net realizable value after recording estimated revenue adjustments as discussed above. During 2015 , 2014 and 2013 , we recorded $ 6. 1 million, $ 5.1 million and $ 9. 0 million, respectively, in estimated revenue adjustments to Medicare revenue. We believe there is a certain level of credit risk associated with non-Medicare payors . To provide for our non-Medicare patient accounts receivable that could become uncollectible in the future, we establish an allowance for doubtful accounts to reduce the carrying amount to its estimated net realizable value. Medicare Home Health For our home health patients, our pre-billing process includes verifying that we are eligible for payment from Medicare for the services that we provide to our patients. Our Medicare billing begins with a process to ensure that our billings are accurate through the utilization of an electronic Medicare claim review. We submit a RAP for 60 % of our estimated payment for the initial episode at the start of care or 50 % of the estimated payment for any subsequent episodes of care contiguous with the first episode for a particular patient. The full amount of the episode is billed after the episode has been completed (“final billed”). The RAP received for that particular episode is then deducted from our final payment. If a final bill is not submitted within the greater of 120 days from the start of the episode, or 60 days from the date the RAP was paid, any RAPs received for that episode will be recouped by Medicare from any other claims in process for that particular provider number. The RAP and final claim must then be resubmitted. Medicare Hospice For our hospice patients, our pre-billing process includes verifying that we are eligible for payment from Medicare for the services t hat we provide to our patients. Our Medicare billing begins with a process to ensure that our billings are accurate through the utilization of an electronic Medicare claim review. Once each patient has been confirmed for eligibility, we will bill Medicare on a monthly basis for the services provided to the patient. Non-Medicare Home Health and Hospice For our non-Medicare patients, our pre-billing process primarily begins with verifying a patient's eligibility for services with the applicable payor . Once the patient has been confirmed for eligibility, we will provide services to the patient and bill the applicable payor . Our review and evaluation of non-Medicare accounts receivable includes a detailed review of outstanding balances and special consideration to concentrations of receivables from particular payors or groups of payors with similar characteristics that would subject us to any significant credit risk. We estimate an allowance for doubtful accounts based upon our assessment of historical and expected net collections, business and economic conditions, trends in payment and an evaluation of collectability based upon the date that the service was provided. Based upon our best judgment, we believe the allowance for doubtful accounts adequately provides for accounts that will not be collected due to credit risk . |
Property Plant And Equipment | Property and Equipment Property and equipment is stated at cost and we depreciate it on a straight-line basis over the estimated useful lives of the assets. Additionally, we have internally developed c omputer software for our own use . Additions and improvements (including interest costs for construction of qualifying long-lived assets) are capitalized. Maintenance and repair expenses are charged to expense as incurred. The cost of property and equipment sold or disposed of and the related accumulated depreciation are eliminated from the property and related accumulated depreciation accounts, and any gain or loss is credited or charged to other general and administrative expenses . We consider our reporting units to represent asset groups for purposes of testing long-lived assets for impairment. We assess the impairment of a long-lived asset group whenever events or changes in circumstances indicate that the asset's carrying value may not be recoverable. Factors we consider important that could trigger an impairment review include but are not limited to the following: A significant change in the extent or manner in which the long-lived asset group is being used . A significant change in the business climate that could affect the value of the long-lived asset group . A significant change in the market value of the assets included in the asset group . If we determine that the carrying value of long-lived assets may not be recoverable, we compare the carrying value of the asset group to the undiscounted cash flows expected to be generated by the asset group. If the carrying value exceeds the undiscounted cash flows, an impairment charge is indicated. An impairment charge is recognized to the extent that the carrying value of the asset group exceeds its fair value. We generally provide for depreciation over the following estimated useful service lives . Years Building 39 Leasehold improvements Lesser of life or lease or expected useful life Equipment and furniture 3 to 7 Vehicles 5 Computer software 3 to 7 As of December 31, 2014, we had $ 7 5 . 8 million of internally developed software costs related to the development of AMS3 Home Health and Hospice. Expanded beta testing to additional sites in February of 2015 demonstrated that AMS3 was disruptive to operations. Additional analysis of the system determined that the system was not ready to be fully implemented and would require significant time and investment to redesign. Therefore, during the three-month period ended March 31, 2015, we made the decision to discontinue AMS3 and recorded a non-cash asset impairment charge of $ 75.2 million to write-off the software costs incurred related to the development of AMS3 Home Health and Hospice . During the three-month period ended September 30, 2015, we commenced an active program to sell our corporate headquarters located in Baton Rouge, Louisiana. In accordance with U.S. GAAP, we classified this asset as held for sale and reduced the carrying value of the asset to its estimated fair value less estimated costs to sell the asset; no further depreciation expense for the asset was recorded. As a result, we recorded a non-cash asset impairment charge of $ 2.1 million during the three-month period ended September 30, 2015 . The asset was sold during the three-month period ended December 31, 2015 and the Company now leases relevant office space . The following table summarizes the balances related to our property and equipment for 2015 and 2014 (amounts in millions): As of December 31, 2015 2014 Land $ 0.0 $ 3.2 Building and leasehold improvements 2.3 25.3 Equipment and furniture 89.6 97.2 Computer software 92.6 158.2 184.5 283.9 Less: accumulated depreciation (141.8) (146.4) $ 42.7 $ 137.5 Depreciation expense for 2015, 2014 and 2013 was $20.0 million, $28.0 million and $35.2 million, respectively. |
Goodwill And Intangible Assets | Goodwill and Other Intangible Assets Goodwill represents the amount of the purchase price in excess of the fair values assigned to the underlying identifiable net assets of acquired businesses. Goodwill is not amortized, but is subject to an annual impairment test. Tests are performed more frequently if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. These events or circumstances include but are not limited to, a significant adverse change in the business environment; regulatory environment or legal factors; or a substantial decline in market capitalization of our stock. To determine whether goodwill is impaired, we perform a two-step impairment test. In the first step of the test, the fair values of the reporting units are compared to their aggregate carrying values, including goodwill. If the fair value of the reporting unit is greater than its carrying amount, goodwill is not considered impaired and no further testing is required. If the fair value of the reporting unit is less than its carrying amount, we would proceed to step two of the test. In step two of the test, the implied fair value of the goodwill of the reporting unit is determined by a hypothetical allocation of the fair value calculated in step one to all of the assets and liabilities of that reporting unit (including any recognized and unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value was reflective of the price paid to acquire the reporting unit. The implied fair value of goodwill is the excess, if any, of the calculated fair value after hypothetical allocation to the reporting unit's assets and liabilities. If the implied fair value of the goodwill is greater than the carrying amount of the goodwill at the analysis date, goodwill is not impaired and the analysis is complete. If the implied fair value of the goodwill is less than the carrying value of goodwill at the analysis date, goodwill is deemed impaired by the amount of that variance. We calculate the estimated fair value of our reporting units using discounted cash flows as well as a market approach that compares our reporting units' earnings and revenue multiples to those of comparable public companies. To determine fair value we must make assumptions about a wide variety of internal and external factors. Significant assumptions used in the impairment analysis include financial projections of free cash flow (including significant assumptions about operations , in particular expected organic growth rates, future Medicare reimbursement rates , capital requirements and income taxes), long-term growth rates for determining terminal value, and discount rates. Our estimates of discounted cash flows may differ from actual cash flows due to, among other things, economic conditions, changes to our business model or changes in operating performance. These factors increase the risk of differences between projected and actual performance that could impact future estimates of fair value of all reporting units. Significant differences between these estimates and actual cash flows could result in additional impairment in future periods. Each of our operating segments described in Note 1 5 – Segment Information is considered to represent an individual reporting unit for goodwill impairment testing purposes. We consider each of our home health care centers to constitute an individual business for which discrete financial information is available. However, since these care centers have substantially similar operating and economic characteristics and resource allocation and significant investment decisions concerning these businesses are centralized and the benefits broadly distributed, we have aggregated these care centers and deemed them to constitute a single reporting unit. We have applied this same aggregation principle to our hospice care centers and have also deemed them to be a single reporting unit. During 201 5 , we did not record any goodwill impairment charges as a result of our annual impairment test and none of the goodwill associated with our various reporting units w as considered at risk of impairment as of October 31, 201 5 . Since the date of our last annual goodwill impairment test, there have been no material developments, events, changes in operating performance or other circumstances that would cause management to believe it is more likely than not that the fair value of any of our reporting units would be less than its carrying amount. Intangible assets consist of Certificates of Need, licenses, acquired names, non-compete agreements and reacquired franchise rights. We amortize non-compete agreements, acquired names that we do not intend to use in the future and reacquired franchise rights on a straight-line basis over their estimated useful lives, which is generally three years for non-compete agreements and up to five years for reacquired franchise rights and acquired names. |
Debt Issuance Costs | Debt Issuance Costs We amortize deferred debt issuance costs related to our long-term obligations over its term through interest expense, unless the debt is extinguished, in which case unamortized balances are immediately expensed. We amortized $ 0.8 million, $0.7 million and $ 0.7 million in deferred debt issuance costs in 2015 , 2014 and 2013 , respectively. As of December 31, 2015 and 2014 , we had unamortized debt issuance costs of $ 3.4 million and $ 2. 8 million , respectively , recorded as other assets in our accompanying consolidated balance sheets. During the third quarter of 201 5 , we expensed $ 1.0 million of unamortized debt issuance costs when we entered into our new Credit Agreement. In connection with the new Credit Agreement we recorded an additional $ 2.4 million in deferred debt issuance costs as other assets in our consolidated balance sheet. The unamortized debt issuance costs of $ 3.4 million at December 31, 2015 , will be amortized over a weighted-average amortization period of 4.6 years. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The three levels of inputs are as follows: Level 1 – Quoted prices in active markets for identical assets and liabilities. Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Our deferred compensation plan assets are recorded at fair value and are considered a level 2 measurement. For our other financial instruments, including our cash and cash equivalents, patient accounts receivable, accounts payable , payroll and employee benefits and accrued expenses , we estimate the carrying amounts' approximate fair value . As of December 31, 2015, the carrying amount of our long-term debt is subject to a variable rate of interest based on current market rates, and as such, the carrying value approximates fair value . |
Income Taxes | Income Taxes We use the asset and liability approach for measuring deferred tax assets and liabilities based on temporary differences existing at each balance sheet date using currently enacted tax rates. Our deferred tax calculation requires us to make certain estimates about future operations. Deferred tax assets are reduced by a valuation allowance when we believe it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect of a change in tax rate is recognized as income or expense in the period that includes the enactment date. As of December 31, 201 5 and 201 4 our net deferred tax asset s w ere $ 125.2 million and $ 122.4 million, respectively . Management regularly assesses the ability to realize deferred tax assets recorded in the Company's entities based upon the weight of available evidence, including such factors as the recent earnings history and expected future taxable income . In the event future taxable income is below management's estimates or is generated in tax jurisdictions different than projected, we could be required to increase the valuation allowance for deferred tax assets. This would result in an increase in our effective tax rate. |
Share-Based Compensation | Share-Based Compensation We record all share-based compensation as expense in the financial statements measured at the fair value of the award. We recognize compensation cost on a straight-line basis over the requisite service period for each separately vesting portion of the award. We reflect the excess tax benefits related to stock option exercises as financing cash flows. Share-based compensation expense for 2015 , 2014 and 2013 was $ 11.8 million, $ 5.6 million and $ 6.5 million, respectively, and the total income tax benefit recognized for these expenses was $ 4 . 7 million, $ 2. 0 million and $ 2.5 million, respectively. |
Weighted-Average Shares Outstanding | Weighted-Average Shares Outstanding Net ( loss ) income per share attributable to Amedisys , Inc. common stockholders, calculated on the treasury stock method, is based on the weighted average number of shares outstanding during the period. The following table sets forth, for the periods indicated, shares used in our computation of the weighted-average shares outstanding, which are used to calc ulate our basic and diluted net earnings attributable to Amedisys , Inc. common stockholders (amounts in thousands): For the Years Ended December 31, 2015 2014 2013 Weighted average number of shares outstanding - basic 33,018 32,301 31,247 Effect of dilutive securities: Stock options 0 1 0 Non-vested stock and stock units 0 521 0 Weighted average number of shares outstanding - diluted 33,018 32,823 31,247 Anti-dilutive securities 922 106 688 |
Advertising Costs | Advertising Costs We expense advertising costs as incurred. Advertising expense for 2015 , 2014 and 2013 was $ 6.9 million, $ 4.7 million and $ 3.9 million , respectively. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) , which requires an entity to recognize the amount of revenue for which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , to defer the effective date of the standard from January 1, 2017, to January 1, 2018, with an option that permits companies to adopt the standard as early as the original effective date. The new ASU reflects the decisions reached by the FASB at its meeting in July 2015. Early application prior to the original effective date is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 and ASU 2015-14 will have on its consolidated financial statements and related disclosures, its transition method and the effect of the standard on its ongoing financial reporting. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. ASU 2015-03 is effective for annual and interim periods beginning on or after December 15, 2015. As of December 31 , 2015, we have $ 3. 4 million of unamortized debt issuance costs that would be reclassified from a long-term asset to a reduction in the carrying amount of our debt . In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes (Topic 740) , which simplifies the presentation of deferred income taxes. This ASU requires that deferred tax assets and liabilities be classified as noncurrent in the balance sheet . The current requirement that deferred tax assets and liabilities be offset and presented as a single amount was not affected by the amendments in ASU 2015-17. The ASU is effective for annual and interim periods beginning on or after December 15, 201 6 . Early adoption is permitted. We have chosen to early adopt this ASU on a prospective basis. Adoption of this ASU resulted in a reclassification of our net current deferred tax liability to the net noncurrent deferred tax asset in our consolidated balance sheet as of December 31, 2015 . Prior periods were not retrospectively adjusted . In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842 ), whic h will require lessees to recognize a lease liability and right-of-use asset for all leases (with the exception of short-term leases) at the commencement date . The ASU is effective for annual and interim periods beginning on or after December 15, 2018. Early adoption is permitted. The standard requires a modified retrospective transition method which requires application of the new guidance for all periods presented. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures and the effect of the standard on its ongoing financial reporting . |
SUMMARY OF SIGNIFICANT ACCOUN26
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Estimated Useful Lives Of Property And Equipment | Years Building 39 Leasehold improvements Lesser of life or lease or expected useful life Equipment and furniture 3 to 7 Vehicles 5 Computer software 3 to 7 |
Property Plant and Equipment | The following table summarizes the balances related to our property and equipment for 2015 and 2014 (amounts in millions): As of December 31, 2015 2014 Land $ 0.0 $ 3.2 Building and leasehold improvements 2.3 25.3 Equipment and furniture 89.6 97.2 Computer software 92.6 158.2 184.5 283.9 Less: accumulated depreciation (141.8) (146.4) $ 42.7 $ 137.5 Depreciation expense for 2015, 2014 and 2013 was $20.0 million, $28.0 million and $35.2 million, respectively. |
Weighted-Average Shares Outstanding | For the Years Ended December 31, 2015 2014 2013 Weighted average number of shares outstanding - basic 33,018 32,301 31,247 Effect of dilutive securities: Stock options 0 1 0 Non-vested stock and stock units 0 521 0 Weighted average number of shares outstanding - diluted 33,018 32,823 31,247 Anti-dilutive securities 922 106 688 |
ACQUISITIONS - PRO FORMA CONDEN
ACQUISITIONS - PRO FORMA CONDENSED CONSOLIDATED INCOME STATEMENT (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Acquisition Pro Forma Information [Abstract] | |
Business Acquisition Pro Forma Information Text Block | 2015 2014 Net service revenue $ 1,327.3 $ 1,247.6 Operating (loss) income (7.9) 21.0 Net income 0.2 10.9 Basic earnings per share $ 0.01 $ 0.34 Diluted earnings per share $ 0.01 $ 0.33 The pro forma information presented above includes adjustments for (i) interest expense, (ii) amortization of identifiable intangible assets and (iii) income tax provision using the Company’s statutory tax rate. This pro forma information is presented for illustrative purposes only and may not be indicative of the results of operations that would have actually occurred. In addition, future results may vary significantly from the results reflected in the pro forma information. |
DISCONTINUED OPERATIONS AND A28
DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Discontinued Operation, Additional Disclosures [Abstract] | |
Net Revenues and Operating Results | Net revenues and operating results for the periods presented for those care centers classified as discontinued operations are as follows (dollars in millions): For the Years Ended December 31, 2015 2014 2013 Net revenues $ 0.0 $ (0.3) $ 31.2 (Loss) before income taxes 0.0 (0.3) (5.3) Income tax benefit 0.0 0.1 2.2 Discontinued operations, net of tax $ 0.0 $ (0.2) $ (3.1) |
GOODWILL AND OTHER INTANGIBLE29
GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Activity Related to Goodwill and Other Intangible Assets Net | The following table summarizes the activity related to our goodwill for the 2015, 2014 and 2013 (amounts in millions): Goodwill Home Health Hospice Total Balances at December 31, 2012 $ 18.2 $ 191.4 $ 209.6 Additions 0.1 0.9 1.0 Write-off (1) (0.4) 0.0 (0.4) Impairment (1.3) 0.0 (1.3) Balances at December 31, 2013 16.6 192.3 208.9 Write-off (1) (0.1) (3.2) (3.3) Balances at December 31, 2014 16.5 189.1 205.6 Additions 50.6 5.5 56.1 Balances at December 31, 2015 $ 67.1 $ 194.6 $ 261.7 The following table summarizes the activity related to our other intangible assets, net for 2015, 2014 and 2013 (amounts in millions): Other Intangible Assets, Net Non-Compete Agreements & Certificates of Acquired Reacquired Need and Names of Franchise Licenses Business Rights Total Balances at December 31, 2012 $ 33.7 $ 11.5 $ 1.8 $ 47.0 Additions 0.6 0.0 0.0 0.6 Write-off (1) (1.1) 0.0 0.0 (1.1) Impairment (7.8) (0.4) 0.0 (8.2) Amortization 0.0 0.0 (1.6) (1.6) Balances at December 31, 2013 25.4 11.1 0.2 36.7 Write-off (1) (0.2) 0.0 0.0 (0.2) Impairment (2.1) (1.0) 0.0 (3.1) Amortization 0.0 0.0 (0.2) (0.2) Balances at December 31, 2014 23.1 10.1 0.0 33.2 Additions 1.1 4.1 5.9 11.1 Write-off (1) (0.3) 0.0 0.0 (0.3) Balances at December 31, 2015 $ 23.9 $ 14.2 $ 5.9 $ 44.0 The estimated aggregate amortization expense for each of the five succeeding years is as follows (amounts in millions): 2016 $ 2.0 2017 2.0 2018 1.9 2019 0.0 2020 0.0 $ 5.9 |
DETAILS OF CERTAIN BALANCE SH30
DETAILS OF CERTAIN BALANCE SHEET ACCOUNTS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Details Of Certain Balance Sheet Accounts [Abstract] | |
Other Current Assets | 6. DETAILS OF CERTAIN BALANCE SHEET ACCOUNTS Additional information regarding certain balance sheet accounts is presented below (amounts in millions): As of December 31, 2015 2014 Other current assets: Payroll tax escrow $ 6.2 $ 1.0 Medicare withholds 0.0 0.1 Income tax receivable 0.5 15.0 Due from joint ventures 1.8 1.4 Other 6.1 2.2 $ 14.6 $ 19.7 |
Other Assets | Other assets: Workers' compensation deposits $ 0.3 $ 0.3 Health insurance deposits 1.2 1.2 Other miscellaneous deposits 1.5 0.7 Deferred financing fees 3.4 2.8 Investments 25.7 23.8 Other 4.1 4.4 $ 36.2 $ 33.2 |
Accrued Expenses | Accrued expenses: Health insurance $ 11.7 $ 11.2 Workers' compensation 23.9 19.8 Legal and other settlements 10.5 5.2 Lease liability 0.6 0.8 Charity care 0.7 0.7 Estimated Medicare cap liability 1.4 2.8 Hospice cost of revenue 6.8 5.7 OIG self-disclosure accrual 4.7 0.0 Patient liability 5.1 4.3 Other 6.6 5.8 $ 72.0 $ 56.3 |
Other Liabilities | Other long-term obligations: Reserve for uncertain tax positions $ 0.7 $ 0.5 Deferred compensation plan liability 2.8 3.3 Other 0.9 1.5 $ 4.4 $ 5.3 |
LONG-TERM OBLIGATIONS (Tables)
LONG-TERM OBLIGATIONS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | 7. LONG-TERM OBLIGATIONS Long-term debt consisted of the following for the periods indicated (amounts in millions): As of December 31, 2015 2014 $100.0 million Term Loan; principal payments plus accrued interest payable quarterly; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage (2.42% at December 31, 2015); due August 28, 2020 $ 100.0 $ 0.0 $60.0 million Term Loan; $3.0 million principal payments plus accrued interest payable quarterly; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage; due October 26, 2017 0.0 33.0 $120.0 million Revolving Credit Facility; interest only quarterly payments; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage; due October 26, 2017 0.0 15.0 $70.0 million Second Lien Loan; interest only quarterly payments; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage; due July 28, 2020 0.0 70.0 Discount on Second Lien Loan - (1.6) 100.0 116.4 Current portion of long-term obligations (5.0) (12.0) Total $ 95.0 $ 104.4 |
Maturities of Long-Term Debt | Maturities of debt as of December 31, 2015 are as follows (amounts in millions): Long-term obligations 2016 $ 5.0 2017 5.0 2018 10.0 2019 10.0 2020 70.0 $ 100.0 |
Commitment Fee Under Credit Facilities | Consolidated Leverage Ratio Margin for ABR Loans Margin for Eurodollar Loans Commitment Fee Letter of Credit Fee ≥ 2.75 to 1.0 2.00% 3.00% 0.40% 3.00% < 2.75 to 1.0 but ≥ 1.75 to 1.0 1.50% 2.50% 0.35% 2.50% < 1.75 to 1.0 but ≥ 0.75 to 1.0 1.00% 2.00% 0.30% 2.00% < 0.75 to 1.0 0.50% 1.50% 0.25% 1.50% |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Provision | Income taxes attributable to continuing operations consist of the following (amounts in millions): For the Years Ended December 31, 2015 2014 2013 Current income tax expense/(benefit): Federal $ 2.2 $ (13.9) $ (2.0) State and local 0.5 (1.1) 0.3 2.7 (15.0) (1.7) Deferred income tax expense/(benefit): Federal (0.5) 21.0 (43.2) State and local (0.1) 1.6 (13.9) Foreign (0.1) 0.1 0.0 (0.7) 22.7 (57.1) Income tax expense/(benefit) from continuing operations $ 2.0 $ 7.7 $ (58.8) Total income tax expense for the years ended December 31, 2015, 2014 and 2013 was allocated as follows (amounts in millions): For the Years Ended December 31, 2015 2014 2013 Income from continuing operations $ 2.0 $ 7.7 $ (58.8) Income from discontinued operations 0.0 (0.1) (2.2) Interest expense 0.2 (0.1) 0.1 Goodwill (0.1) 0.0 0.0 Stockholders' equity (2.1) 0.6 2.2 $ 0.0 $ 8.1 $ (58.7) |
Sources of Tax Effects | For the Years Ended December 31, 2015 (1) 2014 2013 Income tax expense/(benefit) at U.S. federal statutory rate 35.0 % 35.0 % (35.0) % State and local income taxes, net of federal income tax benefit (7.1) 5.8 (4.4) Valuation allowance 79.1 1.5 0.0 Tax credits 136.0 (8.4) (1.2) Uncertain tax positions (230.3) 0.6 2.3 Other items, net (2) (663.3) 2.1 0.0 Income tax expense/(benefit) (650.6) % 36.6 % (38.3) % |
Net Deferred Tax Assets | Deferred tax assets (liabilities) consist of the following components (amounts in millions): As of December 31, 2015 2014 Deferred tax assets: Allowance for doubtful accounts $ 6.4 $ 5.6 Accrued expenses 0.0 1.2 Accrued bonus 4.0 0.0 Workers' compensation 9.8 8.1 Amortization of intangible assets 72.2 89.2 Share-based compensation 5.0 3.3 Net operating loss carryforwards (1) 48.5 59.3 Tax credit carryforwards (2) 4.7 2.6 Other 5.1 1.8 Gross deferred tax assets 155.7 171.1 Less: valuation allowance (0.3) (0.6) Net deferred tax assets 155.4 170.5 Deferred tax (liabilities): Property and equipment (9.5) (31.3) Deferred revenue (18.5) (16.8) Other liabilities (2.2) 0.0 Gross deferred tax (liabilities) (30.2) (48.1) Net deferred tax assets (liabilities) $ 125.2 $ 122.4 (1) The net operating loss ("NOL") carry forwards in the income tax returns include unrecognized tax benefits resulting from uncertain tax positions. Accordingly, the deferred tax assets recognized for the NOL carry forwards, as of December 31, 2015 and 2014, are presented net of unrecognized tax benefits of $3.1 million. (2) The tax credit carry forwards in the income tax returns include unrecognized tax benefits resulting from uncertain tax positions. Accordingly, the deferred tax assets recognized for the tax credit carry forwards, as of December 31, 2015 and 2014, are presented net of unrecognized tax benefits of $0.7 million and $0.3 million, respectively. |
Classification of Deferred Tax Assets and Liabilities | Classification in the consolidated balance sheet (amounts in millions): As of December 31, 2015 (1) 2014 Current deferred tax liabilities 0.0 (2.4) Noncurrent deferred tax assets 125.2 124.8 Net deferred tax assets (liabilities) $ 125.2 $ 122.4 (1) In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes (Topic 740) , which required that deferred tax liabilities and assets be classified as noncurrent. Since early adoption is permitted, the Company has decided to apply ASU 2015-17 to the current period, resulting in a classification of all December 31, 2015 deferred tax assets and liabilities as noncurrent. The Company has not, however, retrospectively adjusted the prior period balances. |
Uncertain Tax Positions | Uncertain Tax Positions We account for uncertain tax positions in accordance with the authoritative guidance for uncertain tax positions. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (amounts in millions): For the Years Ended December 31, 2015 2014 Balance at beginning of period $ 4.0 $ 3.9 Additions for tax positions related to current year 0 0.3 Additions for tax positions related to prior year 1.0 0 Reductions for tax positions related to prior years 0 0 Lapse of statute of limitations (0.3) (0.2) Settlements 0 0 Balance at end of period $ 4.7 $ 4.0 |
CAPITAL STOCK AND SHARE-BASED33
CAPITAL STOCK AND SHARE-BASED COMPENSATION (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Employee Stock Purchase Plan Activity | Employee Stock Purchase Plan Period Shares Issued Price 2013 and Prior 2,755,337 $ 13.67 January 1, 2014 to March 31, 2014 52,718 12.66 April 1, 2014 to June 30, 2014 38,679 14.23 July 1, 2014 to September 30, 2014 32,573 17.14 October 1, 2014 to December 31, 2014 20,221 24.95 January 1, 2015 to March 31, 2015 24,368 22.76 April 1, 2015 to June 30, 2015 15,750 33.77 July 1, 2015 to September 30, 2015 18,984 32.27 October 1, 2015 to December 31, 2015 19,082 33.42 2,977,712 |
Stock Options Activity | Stock Options We use the Black-Scholes option pricing model to estimate the fair value of our stock options. There were no stock options granted during 2013; there were 590,647 and 250,000 options granted during 2015 and 2014, respectively. Stock option compensation expense included in general and administrative expense in our accompanying consolidated statements of operations was $3.8 million and $0.1 million for 2015 and 2014, respectively. The fair value of the 2015 awards were estimated using the following assumptions: Risk Free Rate 1.46% - 1.93% Expected Volatility 53.87 % - 58.05% Expected Term 5.50 - 6.76 years Weighted Average Fair Value $13.45 - $23.21 We used the simplified method to estimate the expected term for the stock options granted during 2015. The following table presents our stock option activity for 2015: Number of Shares Weighted Average Exercise Price Weighted Average Contractual Life (Years) Outstanding options at January 1, 2015 277,536 $ 26.40 8.99 Granted 590,647 31.73 Exercised (15,380) 25.93 Canceled, forfeited or expired (14,309) 25.16 Outstanding options at December 31, 2015 838,494 $ 30.18 9.31 Exercisable options at December 31, 2015 62,500 $ 26.65 8.96 The aggregate intrinsic value of our outstanding options and exercisable options at December 31, 2015 was $8.1 million and $0.8 million, respectively. Total intrinsic value of options exercised was $0.2 million, $0.1 million and $0.2 million for 2015, 2014 and 2013, respectively. The following table presents our non-vested stock option award activity for 2015: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock options at January 1, 2015 250,000 $ 26.65 Granted 590,647 31.73 Vested (62,500) 26.65 Forfeited (2,153) 43.63 Non-vested stock options at December 31, 2015 775,994 $ 30.47 At December 31, 2015, there was $9.8 million of unrecognized compensation cost related to stock options that we expect to be recognized over a weighted-average period of 2.6 years. |
Non-Vested Stock Activity | Non-Vested Stock We issue shares of non-vested stock with vesting terms ranging from one to six years. The compensation expense is determined based on the market price of our common stock at the date of grant applied to the total number of shares that are anticipated to fully vest. Non-vested stock compensation expense included in general and administrative expenses in our accompanying consolidated statements of operations was $5.0 million, $4.6 million and $5.2 million for 2015, 2014 and 2013, respectively. The following table presents our non-vested stock award activity for 2015: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock at January 1, 2015 917,959 $ 15.17 Granted 93,256 28.48 Vested (355,396) 14.69 Canceled, forfeited or expired (154,931) 14.34 Non-vested stock at December 31, 2015 500,888 $ 18.24 The weighted average grant date fair value of non-vested stock granted was $28.48, $16.38 and $10.91 in 2015, 2014, and 2013, respectively. At December 31, 2015, there was $4.1 million of unrecognized compensation cost related to non-vested stock award payments that we expect to be recognized over a weighted average period of 1.4 years. |
Non-Vested Stock Unity Activity | Non-Vested Stock Units - Service-Based We issue non-vested stock unit awards that are service-based, performance-based or a combination of both with vesting terms ranging from one to six years. Based on the terms and conditions of these awards, we determine if the awards should be recorded as either equity or liability instruments. The compensation expense is determined based on the market price of our common stock at the date of grant, applied to the total number of units that are anticipated to vest, unless the award specifies differently. We account for such awards similar to our non-vested stock awards; however, no shares of stock are issued to the recipient until the stock unit awards have vested and after the pre-determined delivery date has occurred. Service-based non-vested stock unit compensation expense included in general and administrative expenses in our accompanying consolidated statements of operations was $1.0 million for 2015. The following table presents our service-based non-vested stock units activity for 2015: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock units at January 1, 2015 - $ 0.00 Granted 186,314 37.98 Vested 0 0 Canceled, forfeited or expired (2,982) 43.63 Non-vested stock units at December 31, 2015 183,332 $ 37.89 The weighted average grant date fair value of service-based non-vested stock units granted was $37.98 in 2015. At December 31, 2015, there was $5.9 million of unrecognized compensation cost related to our service-based non-vested stock units that we expect to be recognized over a weighted average period of 2.7 years. The following table presents our performance-based non-vested stock units activity for 2015: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock units at January 1, 2015 - $ 0.00 Granted 154,732 39.54 Vested - - Canceled, forfeited or expired (3,669) 43.63 Non-vested stock units at December 31, 2015 151,063 $ 39.44 Forward Interest Rate 0.327 % - 1.460% Expected Volatility 54.38% Requisite Service Period 3 years Fair Value $ 10.51 The following table presents our market-based non-vested stock units activity for 2015: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock units at January 1, 2015 225,745 $ 10.51 Granted - - Vested - - Canceled, forfeited or expired (61,211) 10.51 Non-vested stock units at December 31, 2015 164,534 $ 10.51 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future Minimum Rental Commitments | Total minimum rental commitments as of December 31, 2015 are as follows (amounts in millions): 2016 $ 23.5 2017 16.0 2018 11.2 2019 7.4 2020 4.3 Future years 5.5 Total $ 67.9 Rent expense for non-cancelable operating leases was $23.7 million, $26.5 million and $29.8 million for 2015, 2014 and 2013. |
Insurance Programs | As of December 31, Type of Insurance 2015 2014 Health insurance $ 11.7 $ 11.2 Workers' compensation 23.9 20.8 Professional liability 4.1 3.9 39.7 35.9 Less: long-term portion (0.9) (1.0) $ 38.8 $ 34.9 The retention limit per claim for our health insurance, worker's compensation and professional liability is $0.9 million, $0.5 million and $0.3 million, respectively. |
EXIT ACTIVITIES (Tables)
EXIT ACTIVITIES (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Restructuring and Related Activities | |
Exit Activity Reserves | Our reserve activity for our 2014 and 2013 exit and restructuring activity is as follows (amounts in millions): 2014 Exit Activity 2013 Exit Activity Lease Termination Severance Lease Termination Severance Balances at December 31, 2012 $ 0.0 $ 0.0 $ 0.0 $ 0.0 Charge in 2013 0.0 0.0 2.0 1.8 Cash expenditures in 2013 0.0 0.0 (0.5) (0.5) Balances at December 31, 2013 0.0 0.0 1.5 1.3 Charge in 2014 2.1 7.8 0.0 0.0 Cash expenditures in 2014 (1.6) (5.5) (1.2) (1.3) Balances at December 31, 2014 0.5 2.3 0.3 0.0 Charge in 2015 0.0 0.0 0.0 0.0 Cash expenditures in 2015 (0.4) (1.9) (0.2) 0.0 Balances at December 31, 2015 $ 0.1 $ 0.4 $ 0.1 $ 0.0 |
VALUATION AND QUALIFYING ACCO36
VALUATION AND QUALIFYING ACCOUNTS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Valuation And Qualifying Accounts [Abstract] | |
Valuation and Qualifying Accounts | 14. VALUATION AND QUALIFYING ACCOUNTS The following table summarizes the activity and ending balances in our allowance for doubtful accounts and estimated revenue adjustments (amounts in millions): Allowance for Doubtful Accounts Year End Balance at Beginning of Year Provision for Doubtful Accounts (1) Write-Offs Balance at End of Year 2015 $ 14.3 $ 14.1 $ (11.9) $ 16.5 2014 14.2 16.4 (16.3) 14.3 2013 21.0 16.4 (23.2) 14.2 (1) Includes $0.1 million and $0.6 million from discontinued operations for the years ended December 31, 2014 and 2013, respectively. Estimated Revenue Adjustments Year End Balance at Beginning of Year Provision for Estimated Revenue Adjustments (1) Write-Offs Balance at End of Year 2015 $ 3.1 $ 6.1 $ (5.2) $ 4.0 2014 3.9 5.1 (5.9) 3.1 2013 6.4 9.4 (11.9) 3.9 (1) Includes $0.1 million and $0.4 million from discontinued operations for the years ended December 31, 2014 and 2013, respectively. |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Operating Income of Reportable Segments | For the Year Ended December 31, 2015 Home Health Hospice Other Total Net service revenue $ 1,005.1 $ 275.4 $ 0.0 $ 1,280.5 Cost of service, excluding depreciation and amortization 584.2 141.7 0.0 725.9 General and administrative expenses 263.2 62.7 126.5 452.4 Provision for doubtful accounts 12.2 1.9 0.0 14.1 Depreciation and amortization 5.2 1.4 13.4 20.0 Goodwill and other intangibles impairment charge 0.0 0.0 77.3 77.3 Operating expenses 864.8 207.7 217.2 1,289.7 Operating income (loss) $ 140.3 $ 67.7 $ (217.2) $ (9.2) For the Year Ended December 31, 2014 Home Health Hospice Other Total Net service revenue $ 956.9 $ 247.6 $ 0.0 $ 1,204.5 Cost of service, excluding depreciation and amortization 559.4 131.7 0.0 691.1 General and administrative expenses 269.0 58.3 114.4 441.7 Provision for doubtful accounts 14.8 1.5 0.0 16.3 Depreciation and amortization 9.0 2.1 17.2 28.3 Goodwill and other intangibles impairment charge 1.6 1.5 0.0 3.1 Operating expenses 853.8 195.1 131.6 1,180.5 Operating income (loss) $ 103.1 $ 52.5 $ (131.6) $ 24.0 For the Year Ended December 31, 2013 Home Health Hospice Other Total Net service revenue $ 987.7 $ 261.6 $ 0.0 $ 1,249.3 Cost of service, excluding depreciation and amortization 578.9 139.1 0.0 718.0 General and administrative expenses 304.8 64.7 104.5 474.0 Provision for doubtful accounts 10.2 5.7 0.0 15.9 Depreciation and amortization 10.3 2.1 24.5 36.9 U.S. Department of Justice settlement 0.0 0.0 150.0 150.0 Goodwill and other intangibles impairment charge 8.5 1.0 0.0 9.5 Operating expenses 912.7 212.6 279.0 1,404.3 Operating income (loss) $ 75.0 $ 49.0 $ (279.0) $ (155.0) |
UNAUDITED SUMMARIZED QUARTERL38
UNAUDITED SUMMARIZED QUARTERLY FINANCIAL INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information [Abstract] | |
Unaudited Summarized Quarterly Financial Information | 16. UNAUDITED SUMMARIZED QUARTERLY FINANCIAL INFORMATION Net Income (Loss) Attributable to Amedisys, Inc. Common Stockholders (1) Revenue Net Income (Loss) Attributable to Amedisys, Inc. Basic Diluted 2015: 1st Quarter (2) (3) $ 301.6 $ (35.0) $ (1.07) $ (1.07) 2nd Quarter (3) 314.1 10.6 0.32 0.32 3rd Quarter (2) (3) (5) 326.4 8.4 0.25 0.25 4th Quarter (3) (4) (5) 338.4 12.9 0.39 0.38 $ 1,280.5 $ (3.0) $ (0.09) $ (0.09) 2014: 1st Quarter (6) (7) $ 298.7 $ (12.4) $ (0.39) $ (0.39) 2nd Quarter (8) (9) 305.0 7.6 0.24 0.23 3rd Quarter (9) (10) 300.3 8.4 0.26 0.26 4th Quarter (6) 300.5 9.1 0.28 0.28 $ 1,204.5 $ 12.8 $ 0.39 $ 0.39 |
Nature of Operations Consolidat
Nature of Operations Consolidation and Presentation of Financial Statements - Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2015USD ($)AgenciesStates | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Organization And Nature Of Operations [Line Items] | ||||
Percent Of Net Services Revenue Provided By Medicare | 80.00% | 82.00% | 84.00% | |
Number Of States With Facilities | States | 34 | |||
Minimum percent ownership for controlling interest percent | 50.00% | |||
Equity Method Investment Aggregate Cost | $ 25.7 | $ 18.8 | ||
Cost Method Investments | 5 | |||
Maximum Percent Ownership For Equity Method Percent | 50.00% | |||
Maximum Percent Ownership For Cost Method Percent | 20.00% | |||
Goodwill, Impairment Loss | 0 | $ (1.3) | ||
Heritage Healthcare Innovation Fund [Member] | ||||
Organization And Nature Of Operations [Line Items] | ||||
Equity Method Investment Aggregate Cost | $ 19.9 | |||
Equity method investment current assets | $ 3.5 | |||
Equity method investment total assets | 170.4 | |||
Equity method investment current liabilities | 0.1 | |||
Equity method investment total liabilities | 0.1 | |||
Equity method investment total investment income | 72.5 | |||
Equity method investment summarized financial information total expenses | 3.5 | |||
Equity method investment summarized financial information net increase in partners' capital from operations | $ 69 | |||
Equity Method Investments [Member] | ||||
Organization And Nature Of Operations [Line Items] | ||||
Goodwill, Impairment Loss | 1.3 | |||
Home Health [Member] | ||||
Organization And Nature Of Operations [Line Items] | ||||
Operating Care Centers | Agencies | 329 | |||
Goodwill, Impairment Loss | 0 | (1.3) | ||
Hospice [Member] | ||||
Organization And Nature Of Operations [Line Items] | ||||
Operating Care Centers | Agencies | 79 | |||
Goodwill, Impairment Loss | $ 0 | $ 0 |
Summary of Significant Accoun40
Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2015USD ($)DNumber_of_Visits | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | |||||
Episode of care as episodic-based revenue, days | D | 60 | ||||
Percentage of total reimbursement of outlier payment | 10.00% | ||||
Low utilization payment adjustment, maximum number of visits | Number_of_Visits | 5 | ||||
First threshold of therapy services required, visits | Number_of_Visits | 6 | ||||
Second threshold of services required, visits | Number_of_Visits | 14 | ||||
Third threshold of therapy services required, visits | Number_of_Visits | 20 | ||||
Historical collection rate from Medicare | 99.00% | ||||
Episodes in progress that begin during reporting period, days | D | 60 | ||||
Hospice Medicare revenue rate accounted for routine care | 99.00% | 98.00% | 99.00% | ||
Percentage of patient receivables outstanding | 10.00% | ||||
Percentage of Patient Receivables Outstanding Over Ten Percent | 10.50% | ||||
Minimum days for accounts receivable outstanding to be fully reserved | D | 365 | ||||
Portion of accounts receivable derived from Medicare | 64.00% | 69.00% | |||
Revenue adjustment to Medicare revenue | $ 6,100 | $ 5,100 | $ 9,000 | ||
Rate of request for anticipated payment submitted for the initial episode of care | 60.00% | ||||
Rate of request for anticipated payment submitted for subsequent episodes of care | 50.00% | ||||
Maximum days to submit final bill from the start of episode | D | 120 | ||||
Maximum days to submit final bill from the date the request for anticipated payment was paid | D | 60 | ||||
Asset Impairment Charges | $ 77,268 | 3,107 | 9,492 | ||
Income Taxes [Line Items] | |||||
Net deferred tax assets (liabilities) | 125,200 | 122,400 | |||
Property Plant And Equipment [Line Items] | |||||
Internally developed computer software | 75,800 | ||||
Depreciation | 20,000 | 28,000 | 35,200 | ||
Debt Issuance Costs [Line Items] | |||||
Amortization of deferred debt issuance costs/debt discount | 959 | 797 | 699 | ||
Write-off of deferred debt issuance cost | $ 2,500 | ||||
Deferred debt issuance cost | 2,400 | ||||
Unamortized debt issuance costs | $ 3,400 | 2,800 | |||
Unamortized debt issuance costs, weighted average amortization period, years | 4 years 7 months | ||||
Non-cash compensation | $ 11,824 | 5,597 | 6,519 | ||
Share-based compensation, tax benefit recognized | 4,700 | 2,000 | 2,500 | ||
Advertising expense | 6,900 | 4,700 | 3,900 | ||
AMS3 Homecare and Hospice [Member] | |||||
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | |||||
Asset Impairment Charges | $ 75,200 | ||||
Corporate Headquarters [Member] | |||||
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | |||||
Asset Impairment Charges | 2,100 | ||||
Home Health [Member] | |||||
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | |||||
Asset Impairment Charges | 0 | 1,600 | 8,500 | ||
Hospice [Member] | |||||
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | |||||
Asset Impairment Charges | 0 | 1,500 | 1,000 | ||
Credit Agreement [Member] | |||||
Debt Issuance Costs [Line Items] | |||||
Deferred debt issuance cost | 2,400 | ||||
Deferred Debt Issuance Costs [Member] | |||||
Debt Issuance Costs [Line Items] | |||||
Amortization of deferred debt issuance costs/debt discount | $ 800 | 700 | $ 700 | ||
Write-off of deferred debt issuance cost | $ 1,000 | ||||
Noncompete Agreements [Member] | |||||
Goodwill and Intangible Assets [Line Items] | |||||
Estimated Useful Life of Intangible Assets | 3 years | ||||
Reacquired Franchise Rights And Acquired Names [Member] | |||||
Goodwill and Intangible Assets [Line Items] | |||||
Estimated Useful Life of Intangible Assets | 5 years | ||||
Cap Year Two Thousand Thirteen Through Two Thousand Sixteen [Member] | |||||
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | |||||
Estimated amounts due back to Medicare | $ 1,400 | ||||
Cap Year Two Thousand Thirteen Through Two Thousand Fifteen [Member] | |||||
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | |||||
Estimated amounts due back to Medicare | $ 2,800 |
Schedule of Estimated Useful Li
Schedule of Estimated Useful Lives of Property and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2015 | |
Building [Member] | |
Property Plant And Equipment [Line Items] | |
Useful Life | 39 years |
Leasehold Improvements [Member] | |
Property Plant And Equipment [Line Items] | |
Estimated Useful Life | Lesser of life or lease or expected useful life |
Equipment And Furniture [Member] | Minimum [Member] | |
Property Plant And Equipment [Line Items] | |
Useful Life | 3 years |
Equipment And Furniture [Member] | Maximum [Member] | |
Property Plant And Equipment [Line Items] | |
Useful Life | 7 years |
Vehicles [Member] | |
Property Plant And Equipment [Line Items] | |
Useful Life | 5 years |
Computer Software [Member] | Minimum [Member] | |
Property Plant And Equipment [Line Items] | |
Useful Life | 3 years |
Computer Software [Member] | Maximum [Member] | |
Property Plant And Equipment [Line Items] | |
Useful Life | 7 years |
Schedule of Balances Related to
Schedule of Balances Related to Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property Plant And Equipment [Abstract] | ||
Land | $ 0 | $ 3,200 |
Building and leasehold improvements | 2,300 | 25,300 |
Equipment and furniture | 89,600 | 97,200 |
Computer software | 92,600 | 158,200 |
Property and Equipment, Gross | 184,500 | 283,900 |
Less accumulated depreciation | (141,793) | (146,438) |
Property and equipment, net | $ 42,695 | $ 137,455 |
Schedule of Weighted Average Sh
Schedule of Weighted Average Shares Outstanding (Detail) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accounting Policies [Abstract] | |||
Weighted average number of shares outstanding - basic | 33,018 | 32,301 | 31,247 |
Stock options | 0 | 1 | 0 |
Non-vested stock and stock units | 0 | 521 | 0 |
Weighted average number of shares outstanding - diluted | 33,018 | 32,823 | 31,247 |
Anti-dilutive securities | 922 | 106 | 688 |
Acquisitions (Detail)
Acquisitions (Detail) $ in Millions | 7 Months Ended | 9 Months Ended | 12 Months Ended | ||
Jul. 24, 2015USD ($)Agencies | Oct. 03, 2015USD ($)Agencies | Dec. 31, 2015USD ($)AgenciesY | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items] | |||||
Additions | $ 56.1 | $ 0 | $ 1 | ||
Home Health [Member] | |||||
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items] | |||||
Additions | 50.6 | 0 | 0.1 | ||
Hospice [Member] | |||||
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items] | |||||
Additions | 5.5 | $ 0 | $ 0.9 | ||
Florida [Member] | Home Health [Member] | |||||
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items] | |||||
Acquisition, total purchase price | $ 63 | ||||
Acquisition, number of care centers acquired | Agencies | 15 | ||||
Additions | $ 50.2 | ||||
Acquisition, other intangibles recorded | 10.9 | ||||
Acquisition, recorded other assets and liabilities | 1.9 | ||||
Goodwill deductible for income tax purposes | $ 47.6 | ||||
Period in which goodwill is expected to be deductible for income tax purposes, in years | Y | 15 | ||||
Escrow deposit for indemnification purposes and working capital price adjustments | $ 3.2 | ||||
Tennessee [Member] | Hospice [Member] | |||||
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items] | |||||
Acquisition, total purchase price | $ 5.8 | ||||
Acquisition, number of care centers acquired | Agencies | 1 | ||||
Additions | $ 5.5 | ||||
Acquisition, other intangibles recorded | $ 0.3 | ||||
Georgia [Member] | Home Health [Member] | |||||
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items] | |||||
Acquisition, total purchase price | $ 0.3 | ||||
Acquisition, number of care centers acquired | Agencies | 1 | ||||
Additions | $ 0.3 |
Acquisitions - Pro Forma Cond45
Acquisitions - Pro Forma Condensed Consolidated Income Statement (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Business Acquisition Pro Forma Information [Abstract] | ||
Net service revenue | $ 1,327.3 | $ 1,247.6 |
Operating (loss) income | (7.9) | 21 |
Net (loss) income | $ 0.2 | $ 10.9 |
Basic (loss) earnings per share | $ 0.01 | $ 0.34 |
Diluted (loss) earnings per share | $ 0.01 | $ 0.33 |
Discontinued Operations and A46
Discontinued Operations and Assets Held For Sale - Additional Information (Detail) - Agencies | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
Home Health [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of care centers consolidated | 21 | 41 | |
Number of care centers closed | 22 | 10 | |
Number of care centers available for sale | 28 | 0 | 3 |
Number of care centers sold | 19 | ||
Number of care centers included in discontinued operations | 32 | ||
Home Health [Member] | Assets Held-for-sale [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of care centers consolidated | 1 | ||
Number of care centers sold | 2 | ||
Hospice [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of care centers consolidated | 4 | 5 | |
Number of care centers closed | 4 | ||
Number of care centers sold | 1 | ||
Number of care centers included in discontinued operations | 1 |
Schedule of Net Revenues and Op
Schedule of Net Revenues and Operating Results (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Discontinued Operation, Additional Disclosures [Abstract] | |||
Net revenues | $ 0 | $ (300) | $ 31,200 |
(Loss) before income taxes | 0 | (300) | (5,300) |
Income tax benefit | 0 | 100 | 2,200 |
Discontinued operations, net of tax | $ 0 | $ (216) | $ (3,073) |
Goodwill and Other Intangible48
Goodwill and Other Intangible Assets, Net (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Goodwill and Intangible Assets [Line Items] | |||
Other intangibles impairment charge | $ 0 | $ (3.1) | $ (8.2) |
Goodwill impairment loss | 0 | (1.3) | |
Home Health [Member] | |||
Goodwill and Intangible Assets [Line Items] | |||
Goodwill impairment loss | 0 | (1.3) | |
Hospice [Member] | |||
Goodwill and Intangible Assets [Line Items] | |||
Goodwill impairment loss | 0 | 0 | |
Equity Method Investments [Member] | |||
Goodwill and Intangible Assets [Line Items] | |||
Goodwill impairment loss | 1.3 | ||
Care Centers Closed Or Consolidated [Member] | |||
Goodwill and Intangible Assets [Line Items] | |||
Other intangibles impairment charge | 2.2 | 3.6 | |
Annual Impairment Test Step One [Member] | |||
Goodwill and Intangible Assets [Line Items] | |||
Other intangibles impairment charge | $ 0.9 | $ 4.6 |
Summary of Activity Related to
Summary of Activity Related to Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Goodwill and Intangible Assets [Line Items] | |||
Beginning balance | $ 205,587 | $ 208,900 | $ 209,600 |
Additions | 56,100 | 0 | 1,000 |
Goodwill, Written off Related to Sale of Business Unit | 0 | (3,300) | (400) |
Goodwill, Impairment Loss | 0 | (1,300) | |
Ending balance | 261,663 | 205,587 | 208,900 |
Home Health [Member] | |||
Goodwill and Intangible Assets [Line Items] | |||
Beginning balance | 16,500 | 16,600 | 18,200 |
Additions | 50,600 | 0 | 100 |
Goodwill, Written off Related to Sale of Business Unit | 0 | (100) | (400) |
Goodwill, Impairment Loss | 0 | (1,300) | |
Ending balance | 67,100 | 16,500 | 16,600 |
Hospice [Member] | |||
Goodwill and Intangible Assets [Line Items] | |||
Beginning balance | 189,100 | 192,300 | 191,400 |
Additions | 5,500 | 0 | 900 |
Goodwill, Written off Related to Sale of Business Unit | 0 | (3,200) | 0 |
Goodwill, Impairment Loss | 0 | 0 | |
Ending balance | $ 194,600 | $ 189,100 | $ 192,300 |
Summary of Activity Related t50
Summary of Activity Related to Other Intangible Assets, Net (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Goodwill and Intangible Assets [Line Items] | |||
Beginning balance | $ 33,193 | $ 36,700 | $ 47,000 |
Additions | 11,100 | 0 | 600 |
Write-off | (300) | (200) | (1,100) |
Other intangibles impairment charge | 0 | (3,100) | (8,200) |
Amortization | 0 | (200) | (1,600) |
Ending balance | 44,047 | 33,193 | 36,700 |
NonCompete Agreements Reacquired Franchise Rights [Member] | |||
Goodwill and Intangible Assets [Line Items] | |||
Beginning balance | 0 | 200 | 1,800 |
Additions | 5,900 | 0 | 0 |
Write-off | 0 | 0 | 0 |
Other intangibles impairment charge | 0 | 0 | 0 |
Amortization | 0 | (200) | (1,600) |
Ending balance | 5,900 | 0 | 200 |
Certificates Of Need And Licenses [Member] | |||
Goodwill and Intangible Assets [Line Items] | |||
Beginning balance | 23,100 | 25,400 | 33,700 |
Additions | 1,100 | 0 | 600 |
Write-off | (300) | (200) | (1,100) |
Other intangibles impairment charge | 0 | (2,100) | (7,800) |
Amortization | 0 | 0 | 0 |
Ending balance | 23,900 | 23,100 | 25,400 |
Acquired Names Of Business [Member] | |||
Goodwill and Intangible Assets [Line Items] | |||
Beginning balance | 10,100 | 11,100 | 11,500 |
Additions | 4,100 | 0 | 0 |
Write-off | 0 | 0 | 0 |
Other intangibles impairment charge | 0 | (1,000) | (400) |
Amortization | 0 | 0 | 0 |
Ending balance | $ 14,200 | $ 10,100 | $ 11,100 |
Summary of Activity Related t51
Summary of Activity Related to Other Intangible Assets, Net (Parenthetical) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Goodwill and Intangible Assets [Line Items] | |
Weighted-average amortization period | 3 years |
2,016 | $ 2 |
2,017 | 2 |
2,018 | 1.9 |
2,019 | 0 |
2,020 | 0 |
Finite Lived Intangible Assets Net | $ 5.9 |
Details of Certain Balance Sh52
Details of Certain Balance Sheet Accounts - Other Current Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Details Of Certain Balance Sheet Accounts [Abstract] | ||
Payroll Tax Escrow | $ 6,200 | $ 1,000 |
Medicare Withholds | 0 | 100 |
Income tax receivable | 500 | 15,000 |
Due from joint ventures | 1,800 | 1,400 |
Other | 6,100 | 2,200 |
Other current assets | $ 14,641 | $ 19,708 |
Details of Certain Balance Sh53
Details of Certain Balance Sheet Accounts - Other Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Details Of Certain Balance Sheet Accounts [Abstract] | ||
Workers compensation deposits | $ 300 | $ 300 |
Health insurance deposits | 1,200 | 1,200 |
Other miscellaneous deposit | 1,500 | 700 |
Deferred financing fees | 3,400 | 2,800 |
Investments | 25,700 | 23,800 |
Other | 4,100 | 4,400 |
Other assets, net | $ 36,172 | $ 33,161 |
Details of Certain Balance Sh54
Details of Certain Balance Sheet Accounts - Accrued Expenses (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Details Of Certain Balance Sheet Accounts [Abstract] | ||
Health insurance | $ 11,700 | $ 11,200 |
Workers' compensation | 23,900 | 19,800 |
Legal and other settlements | 10,500 | 5,200 |
Lease liability | 600 | 800 |
Charity care | 700 | 700 |
Estimated Medicare CAP liability | 1,400 | 2,800 |
Hospice cost of revenue | 6,800 | 5,700 |
OIG Self-Disclsoure Accrual | 4,700 | 0 |
Patient Liability | 5,100 | 4,300 |
Other | 6,600 | 5,800 |
Accrued expenses | $ 71,965 | $ 56,329 |
Details of Certain Balance Sh55
Details of Certain Balance Sheet Accounts - Other Long-Term Obligations (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Details Of Certain Balance Sheet Accounts [Abstract] | ||
Reserve for Uncertain Tax Positions | $ 700 | $ 500 |
Deferred compensation plan liability | 2,800 | 3,300 |
Other | 900 | 1,500 |
Other long-term obligations | $ 4,456 | $ 5,285 |
Long Term Debt (Detail)
Long Term Debt (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Long-term debt including current portion | $ 100,000 | $ 116,400 |
Current portion of long-term obligations | (5,000) | (12,000) |
Total | 95,000 | 104,400 |
Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt including current portion | 0 | 33,000 |
Revolving Credit Facilities [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt including current portion | 0 | 15,000 |
Second Lien Credit Agreement Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt including current portion | 0 | 70,000 |
Discount on long-term debt | 0 | (1,600) |
One Hundred Million Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt including current portion | $ 100,000 | $ 0 |
Long Term Debt - Additional Inf
Long Term Debt - Additional Information (Detail) | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($)Installment | Aug. 28, 2015USD ($) | Dec. 31, 2015USD ($)Installment | Dec. 31, 2014USD ($) | |
Debt Instrument [Line Items] | |||||
Total leverage ratio | 0.9 | 0.9 | |||
Fixed charge coverage ratio | 3.7 | 3.7 | |||
Credit facility, maximum borrowing capacity | $ 300,000,000 | ||||
Deferred debt issuance cost | $ 2,400,000 | ||||
Long-term debt including current portion | $ 100,000,000 | $ 100,000,000 | $ 116,400,000 | ||
Write Off Of Deferred Debt Issuance Cost | 2,500,000 | ||||
First Eight Quarterly Payments [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, number of quarterly installments | Installment | 8 | 8 | |||
Debt Instrument Periodic Payment Principal | $ 1,250,000 | ||||
Second Eight Quarterly Payments [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, number of quarterly installments | Installment | 8 | 8 | |||
Debt Instrument Periodic Payment Principal | $ 2,500,000 | ||||
Final Two Quarterly Payments [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, number of quarterly installments | Installment | 2 | 2 | |||
Debt Instrument Periodic Payment Principal | $ 3,100,000 | ||||
Term Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount | $ 60,000,000 | 27,000,000 | $ 60,000,000 | ||
Maturity date | Oct. 26, 2017 | ||||
Debt Instrument Periodic Payment Principal | $ 3,000,000 | ||||
Long-term debt including current portion | 0 | 0 | 33,000,000 | ||
Revolving Credit Facilities [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount | 120,000,000 | $ 120,000,000 | |||
Maturity date | Oct. 26, 2017 | ||||
Long-term debt including current portion | 0 | $ 0 | 15,000,000 | ||
Swing Line Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Amount of Revolving Credit Facility | 25,000,000 | ||||
Letter Of Credit | |||||
Debt Instrument [Line Items] | |||||
Amount of Revolving Credit Facility | 50,000,000 | ||||
Second Lien Credit Agreement Term Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount | 70,000,000 | 70,000,000 | $ 70,000,000 | ||
Maturity date | Jul. 28, 2020 | ||||
Long-term debt including current portion | $ 0 | $ 0 | 70,000,000 | ||
Call Premium Payment | 700,000 | ||||
Credit Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Deferred debt issuance cost | $ 2,400,000 | ||||
Credit facility, additional interest rate over Federal Funds rate | 0.50% | ||||
Credit Facility, additional interest rate over Eurodollar Rate | 1.00% | ||||
Credit Facility, applicable margin on Base Rate Advances | 1.00% | ||||
Credit Facility, applicable margin on Eurodollar Rate Advances | 2.00% | ||||
Percentage of consolidated revenue and adjusted EBITDA that guarantor wholly-owned subsidiaries represent | 95.00% | ||||
Percentage of adjusted EBITDA that guarantor subsidiaries represent | 70.00% | ||||
Credit Agreement [Member] | One Month [Member] | |||||
Debt Instrument [Line Items] | |||||
Eurodollar deposits interest period | 1 month | ||||
Credit Agreement [Member] | Two Month [Member] | |||||
Debt Instrument [Line Items] | |||||
Eurodollar deposits interest period | 2 months | ||||
Credit Agreement [Member] | Three Month [Member] | |||||
Debt Instrument [Line Items] | |||||
Eurodollar deposits interest period | 3 months | ||||
Credit Agreement [Member] | Six Month [Member] | |||||
Debt Instrument [Line Items] | |||||
Eurodollar deposits interest period | 6 months | ||||
One Hundred Million Term Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted-average interest rate for five year Term Loan | 2.70% | ||||
Principal amount | $ 100,000,000 | $ 100,000,000 | |||
Credit facility, maximum borrowing capacity | 100,000,000 | ||||
Maturity date | Aug. 28, 2020 | ||||
Debt instrument, number of quarterly installments | Installment | 18 | 18 | |||
Long-term debt including current portion | $ 100,000,000 | $ 100,000,000 | $ 0 | ||
Two Hundred Million Revolving Credit Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Availability under the revolving credit facility | 179,000,000 | 179,000,000 | |||
Outstanding letters of credit | $ 21,000,000 | $ 21,000,000 | |||
Amount of Revolving Credit Facility | 200,000,000 | ||||
Credit facility, maximum additional borrowing capacity | $ 150,000,000 |
Long Term Debt (Parenthetical)
Long Term Debt (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Aug. 28, 2015 | |
Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Principal amount | $ 60 | $ 27 |
Maturity date | Oct. 26, 2017 | |
Debt Instrument Periodic Payment Principal | $ 3 | |
Revolving Credit Facilities [Member] | ||
Debt Instrument [Line Items] | ||
Principal amount | $ 120 | |
Maturity date | Oct. 26, 2017 | |
Second Lien Credit Agreement Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Principal amount | $ 70 | $ 70 |
Maturity date | Jul. 28, 2020 | |
One Hundred Million Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Principal amount | $ 100 | |
Eurodollar Rate plus the applicable percentage | 2.42% | |
Maturity date | Aug. 28, 2020 |
Maturities of Debt (Detail)
Maturities of Debt (Detail) $ in Millions | Dec. 31, 2015USD ($) |
Maturities of Long-term Debt [Abstract] | |
2,016 | $ 5 |
2,017 | 5 |
2,018 | 10 |
2,019 | 10 |
2,020 | 70 |
Total longterm and shortterm debt | $ 100 |
Commitment Fee Under Credit Fac
Commitment Fee Under Credit Facilities (Detail) | 12 Months Ended |
Dec. 31, 2015 | |
Range One [Member] | |
Line of Credit Facility [Line Items] | |
Commitment Fee | 0.40% |
Letter Of Credit Fee | 3.00% |
Range One [Member] | Abr Loans [Member] | |
Line of Credit Facility [Line Items] | |
Margin on Loans | 2.00% |
Range One [Member] | Eurodollar Loans [Member] | |
Line of Credit Facility [Line Items] | |
Margin on Loans | 3.00% |
Range Two [Member] | |
Line of Credit Facility [Line Items] | |
Commitment Fee | 0.35% |
Letter Of Credit Fee | 2.50% |
Range Two [Member] | Abr Loans [Member] | |
Line of Credit Facility [Line Items] | |
Margin on Loans | 1.50% |
Range Two [Member] | Eurodollar Loans [Member] | |
Line of Credit Facility [Line Items] | |
Margin on Loans | 2.50% |
Range Three [Member] | |
Line of Credit Facility [Line Items] | |
Commitment Fee | 0.30% |
Letter Of Credit Fee | 2.00% |
Range Three [Member] | Abr Loans [Member] | |
Line of Credit Facility [Line Items] | |
Margin on Loans | 1.00% |
Range Three [Member] | Eurodollar Loans [Member] | |
Line of Credit Facility [Line Items] | |
Margin on Loans | 2.00% |
Range Four [Member] | |
Line of Credit Facility [Line Items] | |
Commitment Fee | 0.25% |
Letter Of Credit Fee | 1.50% |
Range Four [Member] | Abr Loans [Member] | |
Line of Credit Facility [Line Items] | |
Margin on Loans | 0.50% |
Range Four [Member] | Eurodollar Loans [Member] | |
Line of Credit Facility [Line Items] | |
Margin on Loans | 1.50% |
Income Taxes (Detail)
Income Taxes (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($)States | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Income Tax Disclosure [Line Items] | ||||
Income tax receivable | $ 0.5 | $ 15 | ||
Valuation Allowance | 0.3 | 0.6 | ||
Net change in total valuation allowance | (0.3) | 0.3 | ||
Uncertain tax benefits accrued | 4.7 | 4 | $ 3.9 | |
Interest and penalties recognized related to uncertain income tax positions | 0.2 | 0.1 | ||
Interest and penalties accrued related to uncertain income tax positions | $ 0.2 | 0.2 | ||
Number of individual states subject to income taxes | States | 50 | |||
Unrecognized Tax Benefits Period Increase Decrease | $ (0.6) | |||
Net Operating Loss [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Uncertain tax benefits accrued | $ 3.1 | 3.1 | ||
Tax Credit Carryforward [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Uncertain tax benefits accrued | 0.7 | $ 0.3 | ||
Research And Development Tax Credit [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Tax credits | 1.9 | |||
Employment Tax Credit [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Tax credits | 0.4 | |||
Alternative Minimum Tax Credit [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Tax credits | 1 | |||
State Tax Credit [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Tax credits | 3.1 | |||
Other Long Term Obligations [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Uncertain tax benefits accrued | 0.7 | |||
Deferred Income Taxes [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Uncertain tax benefits accrued | 3.8 | |||
Accrued Expenses [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Uncertain tax benefits accrued | $ 0.2 | |||
Minimum [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Tax years open to examination | 2,001 | |||
Maximum [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Tax years open to examination | 2,015 | |||
State and Local Jurisdiction [Member] | Net Operating Loss [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Net operating loss carryforwards | $ 254.3 | |||
Federal [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Income tax receivable | 14.3 | |||
Net operating loss carryforwards | $ 116.3 |
Total Provision For Income Taxe
Total Provision For Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Federal, current | $ 2,200 | $ (13,900) | $ (2,000) |
State and local, current | 500 | (1,100) | 300 |
Current income tax expense/(benefit) | 2,700 | (15,000) | (1,700) |
Federal, deferred | (500) | 21,000 | (43,200) |
State and local, deferred | (100) | 1,600 | (13,900) |
Foreign, deferred | (100) | 100 | 0 |
Deferred income taxes | (700) | 22,700 | (57,100) |
Income tax (expense) benefit | $ 2,004 | $ 7,671 | $ (58,773) |
Income Tax Expense Allocation
Income Tax Expense Allocation - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Income tax (expense) benefit | $ 2,004 | $ 7,671 | $ (58,773) |
Income from discontinued operations | 0 | (100) | (2,200) |
Interest expense | 200 | (100) | 100 |
Goodwill | (100) | 0 | 0 |
Stockholders' equity | (2,100) | 600 | 2,200 |
Total income tax expense | $ 0 | $ 8,100 | $ (58,700) |
Sources of Tax Effect (Detail)
Sources of Tax Effect (Detail) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Statutory Tax Rate | 35.00% | 35.00% | (35.00%) |
State and local income taxes and other, net of federal income tax benefit | (7.10%) | 5.80% | (4.40%) |
Valuation allowance | 79.10% | 1.50% | 0.00% |
Tax credits | 136.00% | (8.40%) | (1.20%) |
Uncertain tax positions | (230.30%) | 0.60% | 2.30% |
Other items, net | (663.30%) | 2.10% | 0.00% |
Continuing operations effective income tax rate | (650.60%) | 36.60% | (38.30%) |
Components of Net Deferred Tax
Components of Net Deferred Tax Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Allowance for doubtful accounts | $ 6.4 | $ 5.6 |
Accrued expenses | 0 | 1.2 |
Accrued bonus | 4 | 0 |
Workers' compensation | 9.8 | 8.1 |
Amortization of intangible assets | (72.2) | (89.2) |
Share-based compensation | 5 | 3.3 |
Net operating loss carryforwards | 48.5 | 59.3 |
Tax credit carryforwards | 4.7 | 2.6 |
Other | 5.1 | 1.8 |
Gross deferred tax assets | 155.7 | 171.1 |
Valuation Allowance | 0.3 | 0.6 |
Net deferred tax assets | 155.4 | 170.5 |
Property and equipment | 9.5 | 31.3 |
Deferred revenue | (18.5) | (16.8) |
Other liabilities | 2.2 | 0 |
Gross deferred tax (liabilities) | 30.2 | 48.1 |
Net deferred tax assets (liabilities) | $ 125.2 | $ 122.4 |
Classification of Deferred Tax
Classification of Deferred Tax Assets and Liabilities - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred Tax Assets Liabilities Net [Abstract] | ||
Current deferred tax liabilities | $ 0 | $ 2,385 |
Noncurrent deferred tax assets | 125,245 | 124,788 |
Net deferred tax assets (liabilities) | $ 125,200 | $ 122,400 |
Reconciliation of Unrecognized
Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | ||
Uncertain tax benefits accrued, beginning balance | $ 4 | $ 3.9 |
Additions for tax positions related to current year | 0 | 0.3 |
Additions for tax positions of prior years | 1 | 0 |
Reductions for tax positions of prior years | 0 | 0 |
Lapse of statute of limitations | (0.3) | (0.2) |
Settlements | 0 | 0 |
Uncertain tax benefits accrued, ending balance | $ 4.7 | $ 4 |
Capital Stock and Share-Based68
Capital Stock and Share-Based Compensation (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 07, 2012 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Common Stock Shares Authorized | 60,000,000 | 60,000,000 | ||
Common Stock Par Or Stated Value Per Share | $ 0.001 | $ 0.001 | ||
Preferred Stock Shares Authorized | 5,000,000 | 5,000,000 | ||
Preferred Stock Par Or Stated Value Per Share | $ 0.001 | $ 0.001 | ||
Common Stock Shares Issued | 34,786,966 | 34,569,526 | ||
Common Stock Shares Outstanding | 33,607,282 | 33,594,572 | ||
Preferred Stock Shares Issued | 0 | 0 | ||
Preferred Stock Shares Outstanding | 0 | 0 | ||
Percentage of Ownership in Subsidiaries | 50.00% | |||
Equity-based Awards, Maximum Number of Shares Granted | 5,500,000 | |||
Equity-based Awards, Shares Available for Grant | 1,300,000 | |||
Percentage of Total Combined Voting Power of the Ccompany and Our Subsidiaries | 10.00% | |||
Percentage of Market Value at Which Eligible Employees May Purchase Shares of Common Stock | 85.00% | |||
Common Stock Shares Authorized For Issuance To Employee Stock Purchase Plan | 1,522,288 | |||
Employee Stock Purchase Plan expense | $ 0.4 | $ 0.4 | $ 0.5 | |
Intrinsic Value of Stock Options Outstanding | 8.1 | |||
Intrinsic Value of Stock Options Exerciseable | 0.8 | |||
Intrinsic Value of Stock Options Exercised | $ 0.2 | 0.1 | $ 0.2 | |
Market-based award, target number of shares to be received | 417,330 | |||
Market-based award, maximum number of shares authorized to be received | 667,728 | |||
Share-Based Awards [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Fair Value of Share of Common Stock, Percentage | 100.00% | |||
Share Based Awards To More Than Ten Percent Owner [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Fair Value of Share of Common Stock, Percentage | 110.00% | |||
Stock Option [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock Compensation Expense | $ 3.8 | 0.1 | ||
Unrecognized compensation expense related to non-vested stock awards | $ 9.8 | |||
Non-vested stock award compensation expense weighted-average period, years | 2 years 7 months 6 days | |||
Non-Vested Stock [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock Compensation Expense | $ 5 | $ 4.6 | $ 5.2 | |
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | $ 28.48 | $ 16.38 | $ 10.91 | |
Unrecognized compensation expense related to non-vested stock awards | $ 4.1 | |||
Non-vested stock award compensation expense weighted-average period, years | 1 year 4 months 24 days | |||
Non-Vested Stock Units - Service-Based and Performance-Based [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock Compensation Expense | $ 1.3 | |||
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | $ 39.54 | |||
Unrecognized compensation expense related to non-vested stock awards | $ 4.6 | |||
Non-vested stock award compensation expense weighted-average period, years | 2 years 2 months 12 days | |||
Performance-based award, target number of shares to be received | 154,732 | |||
Non-Vested Stock Units - Service-Based and Market-Based [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock Compensation Expense | $ 0.3 | $ 0.5 | $ 0.8 | |
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | $ 0 | |||
Unrecognized compensation expense related to non-vested stock awards | $ 0.2 | |||
Non-vested stock award compensation expense weighted-average period, years | 4 months | |||
Non Vested Stock Units Service [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock Compensation Expense | $ 1 | |||
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | $ 37.98 | |||
Unrecognized compensation expense related to non-vested stock awards | $ 5.9 | |||
Non-vested stock award compensation expense weighted-average period, years | 2 years 8 months 12 days | |||
Minimum [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Vesting Period of Equity-based Awards | 12 months | |||
Maximum [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Vesting Period of Equity-based Awards | 6 years | |||
Contractual Term of Stock Options Exercised | ten | |||
Common Stock Shares Authorized For Issuance To Employee Stock Purchase Plan | 4,500,000 | 2,500,000 |
Employee Stock Purchase Plan (D
Employee Stock Purchase Plan (Detail) | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
ESPP Shares Issued | 2,977,712 |
Prior To Two Thousand Thirteen [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
ESPP Shares Issued | 2,755,337 |
Price per ESPP Share Issued | $ / shares | $ 13.67 |
January 1 2014 To March 31 2014 [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
ESPP Shares Issued | 52,718 |
Price per ESPP Share Issued | $ / shares | $ 12.66 |
April 1 2014 To June 30 2014 [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
ESPP Shares Issued | 38,679 |
Price per ESPP Share Issued | $ / shares | $ 14.23 |
July 1 2014 To September 30 2014 [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
ESPP Shares Issued | 32,573 |
Price per ESPP Share Issued | $ / shares | $ 17.14 |
October 1 2014 To December 31 2014 [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
ESPP Shares Issued | 20,221 |
Price per ESPP Share Issued | $ / shares | $ 24.95 |
January 1 2015 To March 31 2015 [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
ESPP Shares Issued | 24,368 |
Price per ESPP Share Issued | $ / shares | $ 22.76 |
April 1 2015 To June 30 2015 [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
ESPP Shares Issued | 15,750 |
Price per ESPP Share Issued | $ / shares | $ 33.77 |
July 1 2015 To September 30 2015 [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
ESPP Shares Issued | 18,984 |
Price per ESPP Share Issued | $ / shares | $ 32.27 |
October 1 2015 To December 31 2015 [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
ESPP Shares Issued | 19,082 |
Price per ESPP Share Issued | $ / shares | $ 33.42 |
Stock Option Activity (Detail)
Stock Option Activity (Detail) - $ / shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Share Based Compensation [Line Items] | ||
Forward Interest Rate, Minimum | 1.46% | |
Forward Interest Rate, Maximum | 1.93% | |
Expected Volatility Rate, Maximum | 58.05% | |
Expected Volatility Rate, Minimum | 53.87% | |
Stock Option [Member] | ||
Share Based Compensation [Line Items] | ||
Number of Options Outstanding, Beginning Balance | 277,536 | |
Stock Options Granted, Number of Shares | 590,647 | 250,000 |
Stock Options Exercised, Number of Shares | (15,380) | |
Stock Options Canceled, Forfeited or Expired, Number of Shares | (14,309) | |
Number of Options Outstanding, Ending Balance | 838,494 | 277,536 |
Stock Options Exerciseable, Number of Shares | 62,500 | |
Options Outstanding, Beginning Balance, Weighted Average Exercise Price | $ 26.40 | |
Stock Options Granted, Weighted Average Exercise Price | 31.73 | |
Stock Options Exercised, Weighted Average Exercise Price | 25.93 | |
Stock Options Canceled, Forfeited or Expired, Weighted Average Exercise Price | 25.16 | |
Options Outstanding, Ending Balance, Weighted Average Exercise Price | $ 30.18 | $ 26.40 |
Options Outstanding, Weighted Average Contractual Life | 9 years 3 months 22 days | 8 years 11 months 26 days |
Stock Options Exerciseable, Weighted Average Exercise Price | $ 26.65 | |
Stock Options Exerciseable, Weighted Average Contractual Life | 8 years 11 months 16 days | |
Stock Option [Member] | Maximum [Member] | ||
Share Based Compensation [Line Items] | ||
Expected Term | 6 years 9 months 4 days | |
Fair Value | $ 23.21 | |
Stock Option [Member] | Minimum [Member] | ||
Share Based Compensation [Line Items] | ||
Expected Term | 5 years 6 months | |
Fair Value | $ 13.45 |
Non-Vested Stock Option Activit
Non-Vested Stock Option Activity (Detail) - Stock Option [Member] | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Share Based Compensation [Line Items] | |
Non-vested stock options beginning balance | shares | 250,000 |
Granted | shares | 590,647 |
Vested | shares | (62,500) |
Forfeited | shares | (2,153) |
Non-vested stock options ending balance | shares | 775,994 |
Non-Vested Stock Options Begining Balance, Weighted Average Grant Date Fair Value | $ / shares | $ 26.65 |
Non-Vested Stock Options Granted, Weighted Average Grant Date Fair Value | $ / shares | 31.73 |
Non-Vested Stock Options Vested, Weighted Average Grant Date Fair Value | $ / shares | 26.65 |
Non-Vested Stock Options Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 43.63 |
Non-Vested Stock Options Ending Balance, Weighted Average Grant Date Fair Value | $ / shares | $ 30.47 |
Non-Vested Stock Activity (Deta
Non-Vested Stock Activity (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Non-Vested Stock [Member] | |||
Share Based Compensation [Line Items] | |||
Non-vested Stock Outstanding, Beginning Balance | 917,959 | ||
Non-vested Stok Granted, Number of Shares | 93,256 | ||
Non-vested Stock Vested, Number of Shares | (355,396) | ||
Non-vested Stock Canceled, Forfeited or Expired, Number of Shares | (154,931) | ||
Non-vested Stock Outstanding, Ending Balance | 500,888 | 917,959 | |
Non-vested Stock Outstanding, Beginning Balance, Weighted Average Grant Date Fair Value | $ 15.17 | ||
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | 28.48 | $ 16.38 | $ 10.91 |
Non-vested Stock Vested, Weighted Average Grant Date Fair Value | 14.69 | ||
Non-vested Stock Canceld, Forfeited or Expired, Weighted Average Grant Date Fair Value | 14.34 | ||
Non-vested Stock Outstanding, Ending Balance, Weighted Average Grant Date Fair Value | $ 18.24 | 15.17 | |
Non-Vested Stock Units - Service-Based and Performance-Based [Member] | |||
Share Based Compensation [Line Items] | |||
Non-vested Stok Granted, Number of Shares | 154,732 | ||
Non-vested Stock Vested, Number of Shares | 0 | ||
Non-vested Stock Canceled, Forfeited or Expired, Number of Shares | (3,669) | ||
Non-vested Stock Outstanding, Ending Balance | 151,063 | ||
Non-vested Stock Outstanding, Beginning Balance, Weighted Average Grant Date Fair Value | $ 0 | ||
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | 39.54 | ||
Non-vested Stock Vested, Weighted Average Grant Date Fair Value | 0 | ||
Non-vested Stock Canceld, Forfeited or Expired, Weighted Average Grant Date Fair Value | 43.63 | ||
Non-vested Stock Outstanding, Ending Balance, Weighted Average Grant Date Fair Value | $ 39.44 | $ 0 | |
Non-Vested Stock Units - Service-Based and Market-Based [Member] | |||
Share Based Compensation [Line Items] | |||
Non-vested Stock Outstanding, Beginning Balance | 225,745 | ||
Non-vested Stok Granted, Number of Shares | 0 | ||
Non-vested Stock Vested, Number of Shares | 0 | ||
Non-vested Stock Canceled, Forfeited or Expired, Number of Shares | (61,211) | ||
Non-vested Stock Outstanding, Ending Balance | 164,534 | 225,745 | |
Non-vested Stock Outstanding, Beginning Balance, Weighted Average Grant Date Fair Value | $ 10.51 | ||
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | 0 | ||
Non-vested Stock Vested, Weighted Average Grant Date Fair Value | 0 | ||
Non-vested Stock Canceld, Forfeited or Expired, Weighted Average Grant Date Fair Value | 10.51 | ||
Non-vested Stock Outstanding, Ending Balance, Weighted Average Grant Date Fair Value | $ 10.51 | $ 10.51 | |
Non Vested Stock Units Service [Member] | |||
Share Based Compensation [Line Items] | |||
Non-vested Stock Outstanding, Beginning Balance | 0 | ||
Non-vested Stok Granted, Number of Shares | 186,314 | ||
Non-vested Stock Vested, Number of Shares | 0 | ||
Non-vested Stock Canceled, Forfeited or Expired, Number of Shares | (2,982) | ||
Non-vested Stock Outstanding, Ending Balance | 183,332 | 0 | |
Non-vested Stock Outstanding, Beginning Balance, Weighted Average Grant Date Fair Value | $ 0 | ||
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | 37.98 | ||
Non-vested Stock Vested, Weighted Average Grant Date Fair Value | 0 | ||
Non-vested Stock Canceld, Forfeited or Expired, Weighted Average Grant Date Fair Value | 43.63 | ||
Non-vested Stock Outstanding, Ending Balance, Weighted Average Grant Date Fair Value | $ 37.89 | $ 0 |
Non-Vested Stock Units (Detail)
Non-Vested Stock Units (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share Based Compensation [Line Items] | |||
Forward Interest Rate, Minimum | 1.46% | ||
Forward Interest Rate, Maximum | 1.93% | ||
Non-Vested Stock [Member] | |||
Share Based Compensation [Line Items] | |||
Non-vested Stock Outstanding, Beginning Balance | 917,959 | ||
Non-vested Stok Granted, Number of Shares | 93,256 | ||
Non-vested Stock Vested, Number of Shares | (355,396) | ||
Non-vested Stock Canceled, Forfeited or Expired, Number of Shares | (154,931) | ||
Non-vested Stock Outstanding, Ending Balance | 500,888 | 917,959 | |
Non-vested Stock Outstanding, Beginning Balance, Weighted Average Grant Date Fair Value | $ 15.17 | ||
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | 28.48 | $ 16.38 | $ 10.91 |
Non-vested Stock Vested, Weighted Average Grant Date Fair Value | 14.69 | ||
Non-vested Stock Canceld, Forfeited or Expired, Weighted Average Grant Date Fair Value | 14.34 | ||
Non-vested Stock Outstanding, Ending Balance, Weighted Average Grant Date Fair Value | $ 18.24 | 15.17 | |
Non-Vested Stock Units - Service-Based and Performance-Based [Member] | |||
Share Based Compensation [Line Items] | |||
Non-vested Stok Granted, Number of Shares | 154,732 | ||
Non-vested Stock Vested, Number of Shares | 0 | ||
Non-vested Stock Canceled, Forfeited or Expired, Number of Shares | (3,669) | ||
Non-vested Stock Outstanding, Ending Balance | 151,063 | ||
Non-vested Stock Outstanding, Beginning Balance, Weighted Average Grant Date Fair Value | $ 0 | ||
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | 39.54 | ||
Non-vested Stock Vested, Weighted Average Grant Date Fair Value | 0 | ||
Non-vested Stock Canceld, Forfeited or Expired, Weighted Average Grant Date Fair Value | 43.63 | ||
Non-vested Stock Outstanding, Ending Balance, Weighted Average Grant Date Fair Value | $ 39.44 | $ 0 | |
Non-Vested Stock Units - Service-Based and Market-Based [Member] | |||
Share Based Compensation [Line Items] | |||
Non-vested Stock Outstanding, Beginning Balance | 225,745 | ||
Non-vested Stok Granted, Number of Shares | 0 | ||
Non-vested Stock Vested, Number of Shares | 0 | ||
Non-vested Stock Canceled, Forfeited or Expired, Number of Shares | (61,211) | ||
Non-vested Stock Outstanding, Ending Balance | 164,534 | 225,745 | |
Non-vested Stock Outstanding, Beginning Balance, Weighted Average Grant Date Fair Value | $ 10.51 | ||
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | 0 | ||
Non-vested Stock Vested, Weighted Average Grant Date Fair Value | 0 | ||
Non-vested Stock Canceld, Forfeited or Expired, Weighted Average Grant Date Fair Value | 10.51 | ||
Non-vested Stock Outstanding, Ending Balance, Weighted Average Grant Date Fair Value | $ 10.51 | $ 10.51 | |
Forward Interest Rate, Minimum | 0.327% | ||
Forward Interest Rate, Maximum | 1.46% | ||
Expected Volatility | 54.38% | ||
Requisite Service Period | 3 years | ||
Fair Value | $ 10.51 | ||
Non Vested Stock Units Service [Member] | |||
Share Based Compensation [Line Items] | |||
Non-vested Stock Outstanding, Beginning Balance | 0 | ||
Non-vested Stok Granted, Number of Shares | 186,314 | ||
Non-vested Stock Vested, Number of Shares | 0 | ||
Non-vested Stock Canceled, Forfeited or Expired, Number of Shares | (2,982) | ||
Non-vested Stock Outstanding, Ending Balance | 183,332 | 0 | |
Non-vested Stock Outstanding, Beginning Balance, Weighted Average Grant Date Fair Value | $ 0 | ||
Non-vested Stock Granted, Weighted Average Grant Date Fair Value | 37.98 | ||
Non-vested Stock Vested, Weighted Average Grant Date Fair Value | 0 | ||
Non-vested Stock Canceld, Forfeited or Expired, Weighted Average Grant Date Fair Value | 43.63 | ||
Non-vested Stock Outstanding, Ending Balance, Weighted Average Grant Date Fair Value | $ 37.89 | $ 0 |
Commitments and Contigencies (D
Commitments and Contigencies (Detail) | Mar. 02, 2015ComputersResidents | Jan. 18, 2016USD ($)Claims | Apr. 30, 2014Agencies | Jan. 31, 2014Claims | Mar. 09, 2011USD ($)Claims | Jun. 10, 2015USD ($) | May. 21, 2015 | Jun. 06, 2011Beneficiary | Jul. 25, 2012Employee | Sep. 13, 2012Employee | Sep. 30, 2015USD ($) | Nov. 03, 2015 | Dec. 31, 2015USD ($) | Dec. 31, 2014 | Dec. 31, 2013Agencies | Nov. 10, 2009Claims | Mar. 31, 2010Beneficiary |
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Health insurance retention limit | $ 900,000 | ||||||||||||||||
Workers' compensation insurance retention limit | 500,000 | ||||||||||||||||
Professional liability insurance retention limit | 300,000 | ||||||||||||||||
Corporate Integrity Agreement Term | 5 years | ||||||||||||||||
Wage and Hour Litigation [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Loss Contingency, Settlement Agreement, Consideration | $ 8,000,000 | ||||||||||||||||
Loss Contingency Accrual | $ 8,000,000 | 5,300,000 | |||||||||||||||
Wage and Hour Litigation [Member] | Illinois [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of former employees who filled a putative collective and class action complaint | Employee | 1 | ||||||||||||||||
Wage and Hour Litigation [Member] | Connecticut [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of former employees who filled a putative collective and class action complaint | Employee | 3 | ||||||||||||||||
OIG Self-Disclosure [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Loss Contingency Accrual | $ 4,700,000 | ||||||||||||||||
Computer Inventory And Data Security Reporting [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of Missing Computers and Laptops | Computers | 142 | ||||||||||||||||
Threshold of Individuals in Data Breach | Residents | 500 | ||||||||||||||||
Computer Inventory And Data Security Reporting [Member] | Minimum [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Year of Departure | 2,011 | ||||||||||||||||
Computer Inventory And Data Security Reporting [Member] | Maximum [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Year of Departure | 2,014 | ||||||||||||||||
Home Health [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number Of Care Centers Sold | Agencies | 19 | ||||||||||||||||
Home Health [Member] | Ohio [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of claims submitted by subsidiary | Claims | 137 | ||||||||||||||||
Home Health [Member] | Extrapolated [Member] | Ohio [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of claims submitted by subsidiary | Claims | 114 | ||||||||||||||||
Recovery amount of the overpayment made to the subsidiary | $ 5,600,000 | ||||||||||||||||
Home Health [Member] | Unfavorable [Member] | Ohio [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of claims submitted by subsidiary | Claims | 28 | ||||||||||||||||
Home Health [Member] | Favorable In Full [Member] | Ohio [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of claims submitted by subsidiary | Claims | 76 | ||||||||||||||||
Number of claims appealed | Claims | 74 | ||||||||||||||||
Home Health [Member] | Favorable In Part [Member] | Ohio [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of claims submitted by subsidiary | Claims | 10 | ||||||||||||||||
Number of claims appealed | Claims | 8 | ||||||||||||||||
Home Health [Member] | Frontier Litigation [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number Of Care Centers Sold | Agencies | 5 | ||||||||||||||||
Hospice [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number Of Care Centers Sold | Agencies | 1 | ||||||||||||||||
Hospice [Member] | South Carolina [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of beneficiaries | Beneficiary | 30 | ||||||||||||||||
Hospice [Member] | Extrapolated [Member] | South Carolina [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of beneficiaries | Beneficiary | 16 | ||||||||||||||||
Hospice [Member] | Unfavorable [Member] | South Carolina [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of claims submitted by subsidiary | Claims | 9 | ||||||||||||||||
Recovery amount of the overpayment made to the subsidiary | $ 3,700,000 | ||||||||||||||||
Recovery amount of overpayment made to subsidiary including interest | $ 5,600,000 | ||||||||||||||||
Hospice [Member] | Frontier Litigation [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number Of Care Centers Sold | Agencies | 4 | ||||||||||||||||
Hospice [Member] | US Department of Justice [Member] | |||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
Number of patients | 53 | 66 |
Future Minimum Rental Commitmen
Future Minimum Rental Commitments - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Lease Obligations [Line Items] | |||
2,016 | $ 23.5 | ||
2,017 | 16 | ||
2,018 | 11.2 | ||
2,019 | 7.4 | ||
2,020 | 4.3 | ||
Future years | 5.5 | ||
Total | 67.9 | ||
Rent expense for non-cancelable operating leases | $ 23.7 | $ 26.5 | $ 29.8 |
Minimum [Member] | |||
Operating Lease Obligations [Line Items] | |||
Operating lease term, years | 1 year | ||
Maximum [Member] | |||
Operating Lease Obligations [Line Items] | |||
Operating lease term, years | 7 years |
Insurance Programs (Details)
Insurance Programs (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ||
Health Insurance | $ 11.7 | $ 11.2 |
Wokers Compensation | 23.9 | 20.8 |
Professional Liability | 4.1 | 3.9 |
Estimated Insurance Total | 39.7 | 35.9 |
Estimated Insurance Long Term Portion | (0.9) | (1) |
Estimated Insurance Excluding Long Term Portion | $ 38.8 | $ 34.9 |
Employee Benefit Plans (Detail)
Employee Benefit Plans (Detail) | 12 Months Ended | ||
Dec. 31, 2015USD ($)Y | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Pension and Other Postretirement Benefits Disclosure [Abstract] | |||
Minimum Eligible Age For Employees To Contribute To Benefit Plan | Y | 21 | ||
Employer Match Amount | $ 0.375 | $ 0.375 | $ 0.375 |
Employee Contribution Amount | $ 1 | $ 1 | $ 1 |
Maximum Percentage of Employee Salary Eligible for Employer Match | 6.00% | 6.00% | 6.00% |
401 (k) Expense Recognized by Company | $ 6,100,000 | $ 6,200,000 | $ 7,800,000 |
Share Repurchase Program (Detai
Share Repurchase Program (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Sep. 09, 2015 | |
EquityAbstract | ||
StockRepurchaseProgramAuthorizedAmount | $ 75,000 | |
Treasury Stock Value Acquired Cost Method | $ (4,581) | |
Treasury Stock Shares Repurchased | 116,859 | |
Treasury Stock Weighted Average Price | $ 39.20 |
Exit Activities (Detail)
Exit Activities (Detail) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2013Agencies | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($)Agencies | Dec. 31, 2013USD ($)Agencies | |
Restructuring Cost and Reserve [Line Items] | ||||
Gains (Losses) on Sales of Assets | $ 184 | $ 2,967 | $ 1,752 | |
Proceeds from Divestiture of Business | $ 413 | $ 4,233 | $ 5,146 | |
Home Health [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of care centers available for sale | Agencies | 28 | 0 | 3 | |
Number of care centers consolidated | Agencies | 21 | 41 | ||
Number of care centers sold | Agencies | 19 | |||
Number of care centers closed | Agencies | 22 | 10 | ||
Hospice [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of care centers consolidated | Agencies | 4 | 5 | ||
Number of care centers sold | Agencies | 1 | |||
Number of care centers closed | Agencies | 4 | |||
Severance For Regional Leadership And Corporate Support [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Other Restructuring Costs | $ 3,400 | |||
Severance For Former Executive [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Other Restructuring Costs | 2,300 | |||
Alaska and Washington Care Centers [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Gains (Losses) on Sales of Assets | $ 1,000 | |||
Proceeds from Divestiture of Business | $ 1,600 | |||
Alaska and Washington Care Centers [Member] | Home Health [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of care centers sold | Agencies | 2 | |||
Alaska and Washington Care Centers [Member] | Hospice [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of care centers sold | Agencies | 1 | |||
Wyoming and Idaho Care Centers [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Gains (Losses) on Sales of Assets | 2,100 | |||
Proceeds from Divestiture of Business | $ 5,000 | |||
Wyoming and Idaho Care Centers [Member] | Home Health [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of care centers sold | Agencies | 5 | |||
Wyoming and Idaho Care Centers [Member] | Hospice [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of care centers sold | Agencies | 4 | |||
Unconsolidated Joint Venture [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Gains (Losses) on Sales of Assets | $ (700) | |||
Proceeds from Divestiture of Business | $ 500 | |||
Number of care centers sold | Agencies | 1 | |||
Available For Sale [Member] | Home Health [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Gains (Losses) on Sales of Assets | $ 800 | $ 700 | ||
Proceeds from Divestiture of Business | $ 800 | $ 1,400 | ||
Number of care centers consolidated | Agencies | 1 | |||
Number of care centers sold | Agencies | 2 | 17 | ||
Number of care centers closed | Agencies | 8 | |||
Not Included In Available For Sale [Member] | Home Health [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of care centers closed | Agencies | 2 | |||
Hospice Inpatient Unit [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Gains (Losses) on Sales of Assets | $ (500) | |||
Number of care centers closed | Agencies | 1 | |||
2013 Exit Activity [Member] | Lease Termination [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Other Restructuring Costs | $ 1,500 | |||
2013 Exit Activity [Member] | Severance [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Other Restructuring Costs | 1,800 | |||
2013 Exit Activity [Member] | Goodwill And Other Intangibles Impairment [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Other Restructuring Costs | 3,600 | |||
2013 Exit Activity [Member] | Available For Sale [Member] | Lease Termination [Member] | Home Health [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Discontinued Operations Liability | 500 | |||
2013 Exit Activity [Member] | Available For Sale [Member] | Intangibles Write Off [Member] | Home Health [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Discontinued Operations Liability | $ 100 | |||
2014 Exit Activity [Member] | Lease Termination [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Other Restructuring Costs | $ 2,100 | |||
2014 Exit Activity [Member] | Severance [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Other Restructuring Costs | 2,100 | |||
2014 Exit Activity [Member] | Intangibles Write Off [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Other Restructuring Costs | $ 2,200 |
Exit Activities - Reserve Activ
Exit Activities - Reserve Activity (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
2013 Exit Activity [Member] | Lease Termination [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | $ 0.1 | $ 0.3 | $ 1.5 | $ 0 |
Charge | 0 | 0 | 2 | |
Cash Expenditure | (0.2) | (1.2) | (0.5) | |
2013 Exit Activity [Member] | Severance [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | 0 | 0 | 1.3 | 0 |
Charge | 0 | 0 | 1.8 | |
Cash Expenditure | 0 | (1.3) | (0.5) | |
2014 Exit Activity [Member] | Lease Termination [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | 0.1 | 0.5 | 0 | 0 |
Charge | 0 | 2.1 | 0 | |
Cash Expenditure | (0.4) | (1.6) | 0 | |
2014 Exit Activity [Member] | Severance [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | 0.4 | 2.3 | 0 | $ 0 |
Charge | 0 | 7.8 | 0 | |
Cash Expenditure | $ (1.9) | $ (5.5) | $ 0 |
Valuation and Qualifying Acco81
Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Provision For Doubtful Accounts | $ 14,053 | $ 16,369 | $ 16,461 |
Allowance for Doubtful Accounts [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Balance, Beginning Balance | 14,300 | 14,200 | 21,000 |
Provision For Doubtful Accounts | 14,100 | 16,400 | 16,400 |
Write-Offs | (11,900) | (16,300) | (23,200) |
Valuation Allowances and Reserves, Balance, Ending Balance | 16,500 | 14,300 | 14,200 |
Allowance for Doubtful Accounts - Discontinued Operations [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Provision For Doubtful Accounts | 100 | 600 | |
Estimated Revenue Adjustments [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Balance, Beginning Balance | 3,100 | 3,900 | 6,400 |
Provision for Estimated Revenue Adjustments | 6,100 | 5,100 | 9,400 |
Write-Offs | (5,200) | (5,900) | (11,900) |
Valuation Allowances and Reserves, Balance, Ending Balance | $ 4,000 | 3,100 | 3,900 |
Estimated Revenue Adjustments, Discontinued Operations [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Provision for Estimated Revenue Adjustments | $ 100 | $ 400 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2015Segments | |
Segment Reporting [Abstract] | |
Number of reportable business segments | 2 |
Operating Income of Reportable
Operating Income of Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Net service revenue | $ 338,400 | $ 326,400 | $ 314,100 | $ 301,600 | $ 300,500 | $ 300,300 | $ 305,000 | $ 298,700 | $ 1,280,541 | $ 1,204,554 | $ 1,249,344 |
Cost of service, excluding depreciation and amortization | 725,915 | 691,061 | 717,996 | ||||||||
General and administrative expenses | 452,400 | 441,700 | 474,000 | ||||||||
Provision for doubtful accounts | 14,053 | 16,294 | 15,882 | ||||||||
Depreciation and amortization | 20,036 | 28,307 | 36,871 | ||||||||
U.S. Department of Justice settlement | 0 | 0 | 150,000 | ||||||||
Asset impairment charge | 77,268 | 3,107 | 9,492 | ||||||||
Operating expenses | 1,289,707 | 1,180,507 | 1,404,315 | ||||||||
Operating (loss) income | (9,166) | 24,047 | (154,971) | ||||||||
Home Health [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net service revenue | 1,005,100 | 956,900 | 987,700 | ||||||||
Cost of service, excluding depreciation and amortization | 584,200 | 559,400 | 578,900 | ||||||||
General and administrative expenses | 263,200 | 269,000 | 304,800 | ||||||||
Provision for doubtful accounts | 12,200 | 14,800 | 10,200 | ||||||||
Depreciation and amortization | 5,200 | 9,000 | 10,300 | ||||||||
U.S. Department of Justice settlement | 0 | ||||||||||
Asset impairment charge | 0 | 1,600 | 8,500 | ||||||||
Operating expenses | 864,800 | 853,800 | 912,700 | ||||||||
Operating (loss) income | 140,300 | 103,100 | 75,000 | ||||||||
Hospice [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net service revenue | 275,400 | 247,600 | 261,600 | ||||||||
Cost of service, excluding depreciation and amortization | 141,700 | 131,700 | 139,100 | ||||||||
General and administrative expenses | 62,700 | 58,300 | 64,700 | ||||||||
Provision for doubtful accounts | 1,900 | 1,500 | 5,700 | ||||||||
Depreciation and amortization | 1,400 | 2,100 | 2,100 | ||||||||
U.S. Department of Justice settlement | 0 | ||||||||||
Asset impairment charge | 0 | 1,500 | 1,000 | ||||||||
Operating expenses | 207,700 | 195,100 | 212,600 | ||||||||
Operating (loss) income | 67,700 | 52,500 | 49,000 | ||||||||
All Other Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net service revenue | 0 | 0 | 0 | ||||||||
Cost of service, excluding depreciation and amortization | 0 | 0 | 0 | ||||||||
General and administrative expenses | 126,500 | 114,400 | 104,500 | ||||||||
Provision for doubtful accounts | 0 | 0 | 0 | ||||||||
Depreciation and amortization | 13,400 | 17,200 | 24,500 | ||||||||
U.S. Department of Justice settlement | 150,000 | ||||||||||
Asset impairment charge | 77,300 | 0 | 0 | ||||||||
Operating expenses | 217,200 | 131,600 | 279,000 | ||||||||
Operating (loss) income | $ (217,200) | $ (131,600) | $ (279,000) |
Unaudited Summarized Quarterl84
Unaudited Summarized Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Quarterly Financial Information [Line Items] | |||||||||||
Net service revenue | $ 338,400 | $ 326,400 | $ 314,100 | $ 301,600 | $ 300,500 | $ 300,300 | $ 305,000 | $ 298,700 | $ 1,280,541 | $ 1,204,554 | $ 1,249,344 |
Net (loss) income attributable to Amedisys, Inc. | $ 12,900 | $ 8,400 | $ 10,600 | $ (35,000) | $ 9,100 | $ 8,400 | $ 7,600 | $ (12,400) | $ (3,021) | $ 12,776 | $ (96,178) |
Earnings Per Share Basic | $ 0.39 | $ 0.25 | $ 0.32 | $ (1.07) | $ 0.28 | $ 0.26 | $ 0.24 | $ (0.39) | $ (0.09) | $ 0.39 | $ (3.08) |
Earnings Per Share Diluted | $ 0.38 | $ 0.25 | $ 0.32 | $ (1.07) | $ 0.28 | $ 0.26 | $ 0.23 | $ (0.39) | $ (0.09) | $ 0.39 | $ (3.08) |
Asset impairment charge | $ 77,268 | $ 3,107 | $ 9,492 | ||||||||
Write Off Of Deferred Debt Issuance Cost | $ 2,500 | ||||||||||
Gain on sale of care centers | 184 | 2,967 | 1,752 | ||||||||
U.S. Department of Justice settlement | 0 | 0 | $ 150,000 | ||||||||
Hospice Inpatient Unit [Member] | |||||||||||
Quarterly Financial Information [Line Items] | |||||||||||
Gain on sale of care centers | $ (500) | ||||||||||
OIG Self-Disclosure [Member] | |||||||||||
Quarterly Financial Information [Line Items] | |||||||||||
Loss Contingency Accrual | $ 4,700 | ||||||||||
Net Of Tax [Member] | |||||||||||
Quarterly Financial Information [Line Items] | |||||||||||
Asset impairment charge | 1,200 | $ 45,500 | $ 600 | $ 1,400 | |||||||
Exit activity costs | 6,100 | ||||||||||
Legal fees | $ (1,100) | 200 | $ 4,800 | $ 1,300 | $ 2,400 | ||||||
Software Write off | $ 900 | ||||||||||
Write Off Of Deferred Debt Issuance Cost | $ 300 | ||||||||||
Gain on sale of care centers | 1,300 | ||||||||||
Software Implementation Costs | 1,400 | $ 1,200 | |||||||||
Net Of Tax [Member] | Hospice Inpatient Unit [Member] | |||||||||||
Quarterly Financial Information [Line Items] | |||||||||||
Gain on sale of care centers | $ (300) | ||||||||||
Net Of Tax [Member] | OIG Self-Disclosure [Member] | |||||||||||
Quarterly Financial Information [Line Items] | |||||||||||
Loss Contingency Accrual | $ 3,400 | $ 900 |
Subsequent Event (Detail)
Subsequent Event (Detail) - Massachusetts [Member] - Private Duty [Member] $ in Millions | 2 Months Ended |
Mar. 01, 2016USD ($)Agencies | |
Subsequent Event [Line Items] | |
Acquisition, total purchase price | $ | $ 28 |
Acquisition, number of care centers acquired | Agencies | 9 |