XML 25 R16.htm IDEA: XBRL DOCUMENT v3.22.1
Intangible Assets
 3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
Goodwill
The following table shows changes in the carrying amounts of goodwill by reporting unit for the three months ended March 31, 2022:
 Critical Illness Recovery HospitalRehabilitation HospitalOutpatient
Rehabilitation		ConcentraTotal
 (in thousands)
Balance as of December 31, 2021$1,131,440 $442,155 $654,125 $1,221,192 $3,448,912 
Acquisition of businesses— — 409 2,884 3,293 
Measurement period adjustment13,251 — — — 13,251 
Balance as of March 31, 2022$1,144,691 $442,155 $654,534 $1,224,076 $3,465,456 
Identifiable Intangible Assets
The following table provides the gross carrying amounts, accumulated amortization, and net carrying amounts for the Company’s identifiable intangible assets:
 December 31, 2021March 31, 2022
 Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
 (in thousands)
Indefinite-lived intangible assets:      
Trademarks$166,698 $— $166,698 $166,698 $— $166,698 
Certificates of need21,478 — 21,478 21,625 — 21,625 
Accreditations1,874 — 1,874 1,874 — 1,874 
Finite-lived intangible assets:      
Trademarks5,000 (5,000)— 5,000 (5,000)— 
Customer relationships304,289 (141,111)163,178 305,839 (148,283)157,556 
Non-compete agreements36,746 (15,095)21,651 37,087 (15,990)21,097 
Total identifiable intangible assets$536,085 $(161,206)$374,879 $538,123 $(169,273)$368,850 
The Company’s accreditations and trademarks have renewal terms and the costs to renew these intangible assets are expensed as incurred. At March 31, 2022, the accreditations and trademarks have a weighted average time until next renewal of 1.5 years and 7.5 years, respectively.
The Company’s finite-lived intangible assets amortize over their estimated useful lives. Amortization expense was $7.1 million and $7.6 million for the three months ended March 31, 2021 and 2022, respectively.