XML 104 R102.htm IDEA: XBRL DOCUMENT v2.4.0.6
Supplemental Guarantor and Non-Guarantor Financial Information (Details 1) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Sep. 30, 2012
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Condensed Consolidating Statement of Comprehensive Income                        
Total net revenues $ 425,017 $ 424,444 $ 427,691 $ 435,652 $ 449,209 $ 449,748 $ 448,712 $ 451,109   $ 1,712,804 $ 1,798,778 $ 1,414,459
Cost of services sold                   908,741 948,455 680,074
Gross profit 195,763 200,555 204,954 202,791 208,604 206,805 214,561 220,353   804,063 850,323 734,385
Selling, general and administrative expenses                   (655,766) (730,407) (606,864)
Dividend income                   0 8,590 [1] 0
Gain on sale of assets and businesses, net 2,600   5,400           5,447 8,014 1,061 103
Goodwill, intangibles and other long-lived asset impairment         (643,305)         (19,132) (643,305) [2] 0
Interest expense and other, net                   (89,947) [3] (88,610) [3] (39,030)
Equity in earnings (loss) of subsidiaries                   0 0 0
Income (loss) from continuing operations before income taxes and equity in net earnings of CareCentrix 18,510 [4] (2,678) [5] 23,818 [4] 7,582 5,995 (635,830) [5] 6,750 20,737   47,232 (602,348) 88,594
Income tax (expense) benefit                   (17,251) 75,768 (34,076)
Equity in net (loss) earnings of CareCentrix                   (2,301) 68,381 1,298
Income (loss) from continuing operations 8,570 [4],[6],[7] (523) [5],[6] 13,909 [4],[6] 4,840 [6] 3,366 [6] (479,734) [5],[6] 4,523 [6] 13,005 [6]   27,680 (458,199) 55,816
Discontinued operations, net of tax 0 0 0 0 1,219 5,983 666 447   0 8,315 (3,135)
Net income (loss) 8,570 [4],[6],[7] (523) [5],[6] 13,909 [4],[6] 4,840 [6] 4,585 [6] (473,751) [5],[6] 5,189 [6] 13,452 [6]   27,680 (449,884) 52,681
Less: Net income attributable to noncontrolling interests                   (884) (641) (526)
Net income (loss) attributable to Gentiva shareholders                   26,796 (450,525) 52,155
Total comprehensive income (loss)                   27,680 (450,362) 53,159
Gentiva Health Services, Inc. [Member]
                       
Condensed Consolidating Statement of Comprehensive Income                        
Total net revenues                   0 0 0
Cost of services sold                   0 0 0
Gross profit                   0 0 0
Selling, general and administrative expenses                   0 0 0
Dividend income                     0  
Gain on sale of assets and businesses, net                   0 0 0
Goodwill, intangibles and other long-lived asset impairment                   0 0  
Interest expense and other, net                   (90,054) (88,665) (39,097)
Equity in earnings (loss) of subsidiaries                   79,622 (380,176) 75,652
Income (loss) from continuing operations before income taxes and equity in net earnings of CareCentrix                   (10,432) (468,841) 36,555
Income tax (expense) benefit                   37,228 18,316 15,600
Equity in net (loss) earnings of CareCentrix                   0 0 0
Income (loss) from continuing operations                   26,796 (450,525) 52,155
Discontinued operations, net of tax                   0 0 0
Net income (loss)                   26,796 (450,525) 52,155
Less: Net income attributable to noncontrolling interests                   0 0 0
Net income (loss) attributable to Gentiva shareholders                   26,796 (450,525) 52,155
Total comprehensive income (loss)                   26,796 (451,003) 52,633
Guarantor Subsidiaries [Member]
                       
Condensed Consolidating Statement of Comprehensive Income                        
Total net revenues                   1,666,368 1,757,459 1,388,234
Cost of services sold                   884,903 921,826 667,389
Gross profit                   781,465 835,633 720,845
Selling, general and administrative expenses                   (638,975) (715,343) (596,874)
Dividend income                     8,590  
Gain on sale of assets and businesses, net                   8,014 1,061 103
Goodwill, intangibles and other long-lived asset impairment                   (19,132) (643,305)  
Interest expense and other, net                   0 0 0
Equity in earnings (loss) of subsidiaries                   3,038 221 2,033
Income (loss) from continuing operations before income taxes and equity in net earnings of CareCentrix                   134,410 (513,143) 126,107
Income tax (expense) benefit                   (52,487) 56,637 (48,336)
Equity in net (loss) earnings of CareCentrix                   (2,301) 68,381 1,298
Income (loss) from continuing operations                   79,622 (388,125) 79,069
Discontinued operations, net of tax                   0 7,949 (3,417)
Net income (loss)                   79,622 (380,176) 75,652
Less: Net income attributable to noncontrolling interests                   0 0 0
Net income (loss) attributable to Gentiva shareholders                   79,622 (380,176) 75,652
Total comprehensive income (loss)                   79,622 (380,176) 75,652
Non-Guarantor Subsidiaries [Member]
                       
Condensed Consolidating Statement of Comprehensive Income                        
Total net revenues                   61,656 52,404 38,463
Cost of services sold                   39,058 37,714 24,923
Gross profit                   22,598 14,690 13,540
Selling, general and administrative expenses                   (16,791) (15,064) (9,990)
Dividend income                     0  
Gain on sale of assets and businesses, net                   0 0 0
Goodwill, intangibles and other long-lived asset impairment                   0 0  
Interest expense and other, net                   107 55 67
Equity in earnings (loss) of subsidiaries                   0 0 0
Income (loss) from continuing operations before income taxes and equity in net earnings of CareCentrix                   5,914 (319) 3,617
Income tax (expense) benefit                   (1,992) 815 (1,340)
Equity in net (loss) earnings of CareCentrix                   0 0 0
Income (loss) from continuing operations                   3,922 496 2,277
Discontinued operations, net of tax                   0 366 282
Net income (loss)                   3,922 862 2,559
Less: Net income attributable to noncontrolling interests                   (884) (641) (526)
Net income (loss) attributable to Gentiva shareholders                   3,038 221 2,033
Total comprehensive income (loss)                   3,922 862 2,559
Eliminations [Member]
                       
Condensed Consolidating Statement of Comprehensive Income                        
Total net revenues                   (15,220) (11,085) (12,238)
Cost of services sold                   (15,220) (11,085) (12,238)
Gross profit                   0 0 0
Selling, general and administrative expenses                   0 0 0
Dividend income                     0  
Gain on sale of assets and businesses, net                   0 0 0
Goodwill, intangibles and other long-lived asset impairment                   0 0  
Interest expense and other, net                   0 0 0
Equity in earnings (loss) of subsidiaries                   (82,660) 379,955 (77,685)
Income (loss) from continuing operations before income taxes and equity in net earnings of CareCentrix                   (82,660) 379,955 (77,685)
Income tax (expense) benefit                   0 0 0
Equity in net (loss) earnings of CareCentrix                   0 0  
Income (loss) from continuing operations                   (82,660) 379,955 (77,685)
Discontinued operations, net of tax                   0 0 0
Net income (loss)                   (82,660) 379,955 (77,685)
Less: Net income attributable to noncontrolling interests                   0 0 0
Net income (loss) attributable to Gentiva shareholders                   (82,660) 379,955 (77,685)
Total comprehensive income (loss)                   $ (82,660) $ 379,955 $ (77,685)
[1] For the year ended December 31, 2011, the Company recognized dividend income of $8.6 million as a result of the sale of a portion of the Company’s combined common and preferred ownership of CareCentrix.
[2] For the year ended December 31, 2012, the Company recorded non-cash impairment charges associated with a write-off of its trade name intangibles of $19.1 million in connection with the Company's initiative to re-brand its operations under the Gentiva name. Home Health and Hospice assets were reduced by $6.0 million and $13.1 million, respectively, as of December 31, 2012 as a result of the impairment.For the year ended December 31, 2011, the Company recorded non-cash impairment charges associated with goodwill, intangibles and other long-lived assets of $643.3 million. This charge was the result of (i) changes in the Company's business climate, (ii) uncertainties around Medicare reimbursement as the federal government worked to reduce the federal deficit, (iii) a significant decline in the price of the Company's common stock during the fiscal year, (iv) a write-down of software and (v) a change in the estimated fair value of real estate. Home Health, Hospice and corporate assets were reduced by $408.4 million, $193.7 million and $41.2 million, respectively, as of December 31, 2011, as a result of the impairment.
[3] For the year ended December 31, 2012, interest expense and other, net included charges of $0.5 million relating to the write-off of deferred debt issuance costs associated with the revolving credit facility. In addition, interest expense and other, net for the year ended December 31, 2011 included charges of $3.8 million associated with terminating the Company’s interest rate swaps in connection with the refinancing of the Company’s Term Loan A and Term Loan B under the Company’s credit agreement. See Note 10 for additional information.
[4] For the fourth quarter of 2012, income (loss) from continuing operations before income taxes and equity in net earnings of CareCentrix, includes a $2.6 million pre-tax gain related to the sale of the Phoenix area hospice operations. For the second quarter of 2012, Income (loss) from continuing operations before income taxes and equity in net earnings of CareCentrix, includes a $5.4 million pre-tax gain associated with the sale of (i) the Gentiva consulting business and (ii) the sale of eight home health branches and four hospice branches in Louisiana.
[5] For the third quarter of 2012, the Company recorded non-cash impairment charges associated with a write-off of its trade name intangibles of $19.1 million in connection with the Company's initiative to re-brand its operations under the Gentiva name. For the third quarter of 2011, the Company recorded non-cash impairment charges associated with goodwill, intangibles and other long-lived assets of $643.3 million. This charge was the result of (i) changes in the Company's business climate, (ii) uncertainties around Medicare reimbursement as the federal government worked to reduce the federal deficit, (iii) a significant decline in the price of the Company's common stock during the fiscal year, (iv) a write-down of software and (v) a change in the estimated fair value of real estate. See Notes 8 and 9.
[6] Income (loss) from continuing operations before income taxes and equity in net earnings of CareCentrix, including gain on sale for each of the 2012 and 2011 quarters includes charges relating to cost savings initiatives, integration and acquisition activities, other restructuring and legal settlements as follows (in thousands): FirstQuarter SecondQuarter ThirdQuarter FourthQuarterYear ended December 31, 2012$5,391 $25 $53 $201Year ended December 31, 2011$3,765 $21,246 $9,845 $14,282
[7] In anticipation of a settlement of claims alleged by the owner of CareCentrix and working capital adjustments as set forth in the stock purchase agreement, during the fourth quarter, the Company recorded a $6.5 million adjustment to the seller financing note receivable to reflect its revised estimated fair value of $3.4 million, which is recorded in equity in net loss of CareCentrix.