Note 14 - Segment Information

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

14. Segment Information

Operating segments are defined as components of a company that engage in business activities from which it may earn revenues and incur expenses, and for which separate financial information is available and is regularly reviewed by the Company’s chief operating decision makers (“CODM”). The Company identifies its Chief Executive Officer and Chief Operating Officer together as CODM to assess the performance of the individual segments and make decisions about resources to be allocated to the segments. The Company operates as a multi-state provider of three business segments providing in-home services.

In its personal care segment, the Company provides non-medical assistance with activities of daily living, primarily to persons who are at increased risk of hospitalization or institutionalization, such as the elderly, chronically ill or disabled. In its hospice segment, the Company provides physical, emotional and spiritual care for people who are terminally ill as well as related services for their families. In its home health segment, the Company provides services that are primarily medical in nature to individuals who may require assistance during an illness or after hospitalization and include skilled nursing and physical, occupational and speech therapy.

The Company’s method for measuring profitability on each reportable segment basis is the same as those described in the summary of significant accounting policies and its CODM frequently reviews the actual result to budget variance to allocate resources to the segment and assess its performance. Segment operating income consists of revenue generated by a segment, less the direct costs of service revenues and general and administrative expenses that are incurred directly by the segment. Unallocated general and administrative costs are those costs for functions performed in a centralized manner and therefore not attributable to a particular segment. These costs include accounting, finance, human resources, legal, information technology, corporate office support and facility costs and overall corporate management.

The CODM does not review disaggregated assets by segment. The measure of segment assets is reported on the balance sheet as total consolidated assets.

The tables below set forth information about the Company’s reportable segments, including significant expenses, for the years ended December 31, 2025, 2024 and 2023 along with the items necessary to reconcile the segment information to the totals reported in the accompanying consolidated financial statements.

	For the Year Ended December 31, 2025
	(Amounts in Thousands)
	Personal Care		Hospice		Home Health		Total
Net service revenues	$	1,089,215	$	262,542	$	70,773	$	1,422,530
Direct service personnel		783,101		109,389		39,708		932,198
General and administrative salaries, wages and benefits		74,161		45,998		13,480		133,639
Other segment items (1)		24,752		39,741		5,134		69,627
Segment operating income		207,201		67,414		12,451		287,066
Segment reconciliation:
Items not allocated at segment level:
Other general and administrative expenses								132,039
Depreciation and amortization								16,412
Interest income								(2,442	)
Interest expense								13,612
Income before income taxes							$	127,445

⁽¹⁾ Other segment items include other costs for direct service personnel, office expense, licenses & taxes, communication, medical director fees, travel and bad debt expense.

	For the Year Ended December 31, 2024
	(Amounts in Thousands)
	Personal Care		Hospice		Home Health		Total
Net service revenues	$	856,581	$	228,191	$	69,827	$	1,154,599
Direct service personnel		613,160		97,128		42,631		752,919
General and administrative salaries, wages and benefits		48,485		41,370		14,349		104,204
Other segment items (1)		20,719		37,762		4,913		63,394
Segment operating income		174,217		51,931		7,934		234,082
Segment reconciliation:
Items not allocated at segment level:
Other general and administrative expenses								117,861
Depreciation and amortization								13,530
Interest income								(4,394	)
Interest expense								7,732
Income before income taxes							$	99,353

⁽¹⁾ Other segment items include other costs for direct service personnel, office expense, licenses & taxes, communication, medical director fees, travel and bad debt expense.

	For the Year Ended December 31, 2023
	(Amounts in Thousands)
	Personal Care		Hospice		Home Health		Total
Net service revenues	$	794,718	$	207,155	$	56,778	$	1,058,651
Direct service personnel		571,445		87,851		34,244		693,540
General and administrative salaries, wages and benefits		47,302		38,843		11,501		97,646
Other segment items (1)		18,442		35,608		4,021		58,071
Segment operating income		157,529		44,853		7,012		209,394
Segment reconciliation:
Items not allocated at segment level:
Other general and administrative expenses								104,312
Depreciation and amortization								14,126
Interest income								(1,476	)
Interest expense								11,106
Income before income taxes							$	81,326

⁽¹⁾ Other segment items include other costs for direct service personnel, office expense, licenses & taxes, communication, medical director fees, travel and bad debt expense.