0000019584-21-000003 | 10-K | XBRL Viewer

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020


	HSW		Oakland		Total
Goodwill	$	56,191	$	10,535	$	66,726
Reacquired franchise rights		52,980		6,190		59,170
Property, plant, and equipment		5,998		675		6,673
Working capital		3,760		22		3,782
Customer relationships		2,220		500		2,720
Non-compete agreements		140		100		240
Other assets and liabilities - net		128		23		151
	$	121,417	$	18,045	$	139,462

Schedule Of Business Acquisitions Revenue And Net Income


	HSW		Oakland		Total
Service revenues and sales	$	20,141	$	5,150	$	25,291
Net income/(loss)		(2,777)		231		(2,546)

Schedule Of Franchise Revenue, Valuation And Amortization Of Reacquired Franchise Rights


					Annualized
			Valuation		Amortization of
	2018 Franchise		of Reacquired		Reacquired
	Revenue		Franchise Rights		Franchise Rights
HSW	$	1,782	$	52,980	$	7,258
Oakland		95		6,190		825
Subtotal		1,877	$	59,170	$	8,083
All other franchise territories		4,505
	$	6,382

Schedule Of Business Acquisitions Pro Forma Of Operations


	For the Years Ended December 31,
	2019		2018
Service revenues and sales	$	1,995,688	$	1,900,218
Net income	$	228,939	$	224,851
Earnings per share	$	14.34	$	14.00
Diluted earnings per share	$	13.85	$	13.38

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated Statements Of Income [Abstract]
Service revenues and sales (Note 2)	$ 2,079,583	$ 1,938,555	$ 1,782,648
Cost of services provided and goods sold (excluding depreciation)	1,378,197	1,321,126	1,227,644
Selling, general and administrative expenses	330,218	305,712	271,209
Depreciation	46,596	40,870	38,464
Amortization	9,987	4,335	399
Other operating (income)/expenses (Note 19)	(75,095)	9,132	1,300
Total costs and expenses	1,689,903	1,681,175	1,539,016
Income from operations	389,680	257,380	243,632
Interest expense	(2,355)	(4,535)	(4,990)
Other income--net (Note 10)	8,665	8,764	958
Income before income taxes	395,990	261,609	239,600
Income taxes (Note 11)	(76,524)	(41,686)	(34,056)
Net income	$ 319,466	$ 219,923	$ 205,544
Earnings Per Share (Note 15)
Net income	$ 20.02	$ 13.77	$ 12.80
Average number of shares outstanding	15,955	15,969	16,059
Diluted Earnings Per Share (Note 15)
Net income	$ 19.48	$ 13.31	$ 12.23
Average number of shares outstanding	16,398	16,527	16,803

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net income	$ 319,466	$ 219,923	$ 205,544
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization	56,583	45,205	38,863
Stock option expense	18,422	14,831	12,611
Deferred payroll taxes	36,350
Noncash portion of long-term incentive compensation	7,208	5,740	5,405
Accrued litigation settlement	2,684	6,000
Provision/(benefit) for deferred income taxes (Note 11)	1,433	(2,770)	5,187
Noncash directors' compensation	1,171	767	766
Amortization of debt issuance costs	306	306	441
Loss on sale of transportation equipment (Note 19)		2,266
Amortization of restricted stock awards			446
Changes in operating assets and liabilities:
Decrease/(increase) in accounts receivable	12,773	(19,247)	(5,570)
Decrease/(increase) in inventories	367	(1,757)	(351)
Increase in prepaid expenses	(3,027)	(3,491)	(2,665)
Increase in accounts payable and other current liabilities	19,096	28,417	8,935
Net change in lease assets and liabilities	1,206	3,108
Change in current income taxes	13,525	161	18,898
Increase in other assets	(11,834)	(11,963)	(5,544)
Increase in other liabilities	12,323	12,354	3,451
Other sources	1,237	1,399	721
Net cash provided by operating activities	489,289	301,249	287,138
Cash Flows from Investing Activities
Capital expenditures	(58,831)	(53,022)	(52,872)
Business combinations, net of cash acquired (Note 7)	(3,600)	(138,010)	(53,177)
Other sources	871	272	824
Net cash used by investing activities	(61,560)	(190,760)	(105,225)
Cash Flows from Financing Activities
Payments on revolving line of credit	(264,900)	(482,100)	(406,550)
Proceeds from revolving line of credit	174,900	482,900	469,550
Purchases of treasury stock	(175,594)	(92,631)	(158,884)
Proceeds from exercise of stock options (Note 4)	50,382	34,380	32,412
Capital stock surrendered to pay taxes on stock-based compensation	(25,328)	(28,474)	(27,548)
Dividends paid	(21,079)	(19,788)	(18,662)
Change in cash overdraft payable	(9,849)	(3,927)	(1,531)
Payments on other long-term debt			(75,000)
Other sources/(uses)	256	478	(1,990)
Net cash used by financing activities	(271,212)	(109,162)	(188,203)
Increase/(decrease) in cash and cash equivalents	156,517	1,327	(6,290)
Cash and cash equivalents at beginning of year	6,158	4,831	11,121
Cash and cash equivalents at end of year	$ 162,675	$ 6,158	$ 4,831

Summary Of Significant Accounting Policies (Weighted Average Lives Of Identifiable, Definite-Lived Intangible Assets) (Details)	12 Months Ended
	Dec. 31, 2020
Non-Compete Agreements [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average lives of identifiable, definite-lived intangible assets	6 years 6 months
Reacquired Franchise Rights [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average lives of identifiable, definite-lived intangible assets	7 years 4 months 24 days
Referral Networks [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average lives of identifiable, definite-lived intangible assets	10 years
Customer Lists [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average lives of identifiable, definite-lived intangible assets	16 years 9 months 18 days

Acquisitions (Schedule Of Business Acquisitions Pro Forma Of Operations) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Acquisitions [Abstract]
Service revenues and sales	$ 1,995,688	$ 1,900,218
Net income	$ 228,939	$ 224,851
Earnings per share	$ 14.34	$ 14.00
Diluted earnings per share	$ 13.85	$ 13.38

Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Summary Of Significant Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

1. Summary of Significant Accounting Policies

NATURE OF OPERATIONS

We operate through our two wholly-owned subsidiaries: VITAS Healthcare Corporation (“VITAS”) and Roto-Rooter Group, Inc. (“Roto-Rooter”). VITAS focuses on hospice care that helps make terminally ill patients' final days as comfortable as possible. Through its team of doctors, nurses, home health aides, social workers, clergy and volunteers, VITAS provides direct medical services to patients, as well as spiritual and emotional counseling to both patients and their families. Roto-Rooter provides plumbing, drain cleaning and water restoration services to both residential and commercial customers. Through its network of company-owned branches, independent contractors and franchisees, Roto-Rooter offers plumbing, drain cleaning service and water restoration to approximately 90% of the U.S. population.

PRINCIPLES OF ACCOUNTING

The consolidated financial statements have been prepared on a going-concern basis. The consolidated financial statements include the accounts of Chemed Corporation and its wholly owned subsidiaries. All intercompany transactions have been eliminated. We have analyzed the provisions of the Financial Accounting Standards Board (“FASB”) authoritative guidance on the consolidation of variable interest entities relative to our contractual relationships with Roto-Rooter’s independent contractors and franchisees. The guidance requires the primary beneficiary of a Variable Interest Entity (“VIE”) to consolidate the accounts of the VIE. We have concluded that neither the independent contractors nor the franchisees are VIEs.

CURRENT EXPECTED CREDIT LOSSES

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments, Credit Losses. The ASU introduces the current expected credit loss (“CECL”) methodology. The CECL methodology utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for financial assets at the time the asset is originated or acquired. This generally results in earlier recognition of credit losses and greater transparency about credit risk. The Company adopted the provisions of ASU No. 2016-13 on January 1, 2020 using the modified retrospective method. The provisions of ASU No. 2016-13 did not significantly impact the method or timing that the Company recognizes expected credit losses and the cumulative effect of adoption was immaterial.

The Company’s only material financial asset subject to ASU No. 2016-13 is accounts receivable, trade and other. The Company recognizes an allowance for credit losses related to accounts receivable to present the net amount expected to be collected as of the balance sheet date. Accounts receivable are written-off when it is determined that the amount is deemed uncollectible. The following presents a detailed discussion of the operating subsidiaries’ accounts receivable and their evaluation of credit risk related to those accounts:

Roto-Rooter’s trade accounts receivable are comprised mainly of amounts due from commercial entities and commercial insurance carriers. Roto-Rooter’s accounts receivable are generally outstanding for 90 days or less and there are no significant amounts outstanding greater than one year. Roto-Rooter historically has not experienced significant write-offs due to credit losses. For amounts due from commercial entities, Roto-Rooter utilizes a provision matrix based on historical credit losses by aging category. For amounts due from commercial insurance carriers, mainly from water restoration revenue, Roto-Rooter periodically reviews published default tables related to commercial insurance carriers and provides an allowance. As further discussed below, Roto-Rooter assesses on a quarterly basis whether the historical rates used are expected to be representative of credit risk over the life of the account taking into consideration existing economic conditions.

In excess of 90% of VITAS’ accounts receivable are from the Federal or state governments under Medicare and Medicaid. VITAS believes that it is reasonable to expect that the risk of non-payment as a result of credit issues from these government entities is zero. As such, there is no allowance for credit losses established related to these accounts. The remainder of VITAS’ accounts are from commercial insurance carriers. VITAS’ accounts are generally outstanding for 90 days or less and there are no significant amounts outstanding greater than one year. VITAS historically has not experienced significant write-offs due to credit losses. VITAS periodically reviews published default tables related to commercial insurance carriers and provides an allowance. VITAS assesses on a quarterly basis whether these default rates are expected to be representative of credit risk over the life of the account taking into consideration existing economic conditions.

As further discussed in Note 3, Chemed has $37.9 million in standby letters of credit outstanding. These letters of credit are with large, highly rated financial institutions. The Company periodically reviews published default tables related to these institutions to assess the need for an allowance. Chemed believes that any expected credit loss related to outstanding letters of credit based on current economic conditions is not material.

In conjunction with its year end December 31, 2020 closing process, subsequent to the adoption of ASU No. 2016-13, Roto-Rooter re-assessed its expected credit losses as a result of COVID-19. In addition to the historical provision matrix described above, and in conjunction with the quarterly assessment of current economic conditions and published default rates to evaluate credit risk over the life of the account, Roto-Rooter analyzed the industries from which the accounts receivable originated. Using available information and judgment, additional expected credit losses were recorded for industries deemed higher risk during the economic shut down, such as restaurants, hotels and bars. The additional charge taken for the year ended December 31, 2020 related to expected credit losses from COVID-19 issues was $657,000. The full economic impact as a result of COVID-19 and the related business shut-downs will not be known for some period of time. The amount recorded for the year ended December 31, 2020 represents management’s current best estimate.


				ADDITIONS
				(CHARGED)
				CREDITED		(CHARGED)
				TO COSTS		CREDITED
		BALANCE AT		AND		TO OTHER						BALANCE AT
DESCRIPTION		1/1/2020		EXPENSES		ACCOUNTS		DEDUCTIONS		OTHER		12/31/2020

December 31, 2020	$	(353)	$	(657)	$	(475)	$	488	$	(25)	$	(1,022)

CORONAVIRUS AID, RELIEF AND ECONOMIC STIMULUS (CARES) ACT

The current COVID-19 pandemic had a material impact on our results of operations, cash flow and financial position as of December 31, 2020. We are closely monitoring the impact of the pandemic on all aspects of our business including impacts to employees, customers, patients, suppliers and vendors. The Company’s two operating subsidiaries have been categorized as critical infrastructure businesses and are not currently materially limited by federal, state or local regulations that restrict movement or operating ability.

The length and severity of the pandemic, coupled with related governmental actions including relief acts and actions relating to our workforce at federal, state and local levels, and underlying economic disruption will determine the ultimate short-term and long-term impact to our business operations and financial results. To date, we have seen shifts in demand and mix of services, changes in referral patterns, and an increase in usage and reliance on our technology infrastructure, among other changes. We are unable to predict the myriad of possible issues that could arise or the ultimate effect to our businesses as a result of the unknown short, medium and long-term impacts that the pandemic will have on the United States economy and society as a whole.

On March 27, 2020, the CARES Act was passed. It is intended to provide economic relief to individuals and businesses affected by the coronavirus pandemic. It also contains provisions related to healthcare providers’ operations and the issues caused by the coronavirus pandemic. The following are significant economic impacts for Chemed and its subsidiaries as a result of specific provisions of the CARES Act:

A portion of the CARES Act provides $100 billion from the Public Health and Social Services Emergency Fund (“Relief Fund”) to healthcare providers on the front lines of the coronavirus response. Of this distribution, $30 billion was designated to be automatically distributed to facilities and healthcare providers based upon their 2019 Medicare fee-for-service revenue.

On April 10, 2020 VITAS received $80.2 million from the Relief Fund based upon VITAS’s 2019 Medicare fee-for-service revenue. The main condition that is attached to the grant is that the money will be used “only for health care related expenses or lost revenues that are attributable to coronavirus”. HHS guidance does not specifically designate what healthcare expenses are related to COVID-19. The guidance to date is general and broad but does provide some examples such as equipment and supplies, workforce training, reporting COVID-19 test results, securing separate facilities for COVID-19 patients and acquiring additional resources to expand or preserve care delivery. VITAS has cared for approximately 5,700 COVID positive patients through December 31, 2020.

The additional conditions to the Relief Fund payment are specific in nature, such as the money cannot be used for gun control advocacy purposes, abortions, embryo research, etc. The Company is in compliance, and intends to maintain compliance, with these specific conditions. Based on this analysis, management believes that there is reasonable assurance that VITAS will comply with the conditions.

Chemed and its subsidiaries have deferred $36.4 million of certain employer payroll taxes as permitted by the CARES Act. $18.2 million is classified as a short-term liability and $18.2 million is classified as a long-term liability.

During the period from May 1, 2020 through December 31, 2020, the 2% Medicare sequestration reimbursement cut is suspended. For the year ended December 31, 2020 approximately $16.8 million was recognized as revenue due to the suspension of sequestration.

On December 27, 2020, a second COVID-19 relief bill was signed into law. Among other things, this bill extended the suspension of the 2% sequestration cut through March 31, 2021.

There is no U.S. GAAP that covers accounting for such government “grants” to for-profit entities. As a result, the Company analogized to International Accounting Standard 20 – Accounting for Government Grants and Disclosures (“IAS 20”). Under IAS 20, once it is reasonably assured that the entity will comply with the conditions of the grant, the grant money should be recognized on a systematic basis over the periods in which the entity recognizes the related expenses or losses.

The components of the amount recognized are as follows, (in thousands):




Lost revenue	$	44,784
Incremental PTO		21,425
Hard costs		14,016
Other operating income	$	80,225

Hard costs are primarily expenses paid to outside vendors for personal protection equipment, COVID testing for front line workers, and deep cleaning of in-patient facilities. In April, VITAS provided an extra two weeks of paid time off (“PTO”) to all frontline workers.

During the year ended December 31, 2020, VITAS recognized $44.8 million for estimated lost revenue as a result of the pandemic. The December 27, 2020 COVID-19 relief bill gave providers multiple options to calculate lost revenue including budget to actual comparisons, 2019 actual to 2020 actual comparisons, or other systematic methods of calculation. We calculated lost revenue using the budget to actual method. Our 2020 budget was compiled, reviewed and approved prior to the start of the pandemic. Lost revenues for 2020 based on our calculation was $61.4 million, however only $44.8 million was recognized for use under the grant received.

All CARES Act funds received have been fully recognized as of December 31, 2020. However, the rules concerning utilization of the funds continue to evolve and we will continue to comply with those applicable to us, subsequent to year end.

CASH EQUIVALENTS

Cash equivalents comprise short-term, highly liquid investments, including money market funds that have original maturities of three months or less.

CONCENTRATION OF RISK

As of December 31, 2020, and 2019, approximately 74% and 71%, respectively, of VITAS’ total accounts receivable balance were from Medicare and 20% and 26%, respectively, of VITAS’ total accounts receivable balance were due from various state Medicaid or managed Medicaid programs. Combined accounts receivable from Medicare, Medicaid, and managed Medicaid represent approximately 80% of the consolidated net accounts receivable in the accompanying consolidated balance sheets as of December 31, 2020.

VITAS has a pharmacy services contract with one service provider for specified pharmacy services related to its hospice operations. A large majority of VITAS’ pharmaceutical purchases are from this vendor. The pharmaceuticals purchased by VITAS are available through many providers in the United States. However, a disruption from VITAS’ main service provider could adversely impact VITAS’ operations, including temporary logistical challenges and increased cost associated with getting medication to our patients.

INVENTORIES

Substantially all of the inventories are either general merchandise or finished goods. Inventories are stated at the lower of cost or net realizable value. For determining the value of inventories, cost methods that reasonably approximate the first-in, first-out (“FIFO”) method are used.

DEPRECIATION AND PROPERTIES AND EQUIPMENT

Depreciation of properties and equipment is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the lesser of the remaining lease terms (excluding option terms) or their useful lives. Expenditures for maintenance, repairs, renewals and betterments that do not materially prolong the useful lives of the assets are expensed as incurred. The cost of property retired or sold and the related accumulated depreciation are removed from the accounts, and the resulting gain or loss is reflected currently in other operating expense or other income, net.

Expenditures for major software purchases and software developed for internal use are capitalized and depreciated using the straight-line method over the estimated useful lives of the assets. For software developed for internal use, external direct costs for materials and services and certain internal payroll and related fringe benefit costs are capitalized in accordance with the FASB’s authoritative guidance on accounting for the costs of computer software developed or obtained for internal use.

The weighted average lives of our property and equipment at December 31, 2020, were:


Buildings and building improvements	14.9	yrs.
Transportation equipment	9.6
Machinery and equipment	5.0
Computer software	4.1
Furniture and fixtures	4.6

GOODWILL AND INTANGIBLE ASSETS

The table below shows a rollforward of Goodwill (in thousands):


			Roto-
	Vitas		Rooter		Total
Balance at December 31, 2018	$	333,331	$	177,239	$	510,570
Business combinations		-		66,726		66,726
Foreign currency adjustments		-		71		71
Balance at December 31, 2019	$	333,331	$	244,036	$	577,367
Business combinations		-		1,193		1,193
Foreign currency adjustments		-		25		25
Balance at December 31, 2020	$	333,331	$	245,254	$	578,585

Identifiable, definite-lived intangible assets arise from purchase business combinations and are amortized using either an accelerated method or the straight-line method over the estimated useful lives of the assets. The selection of an amortization method is based on which method best reflects the economic pattern of usage of the asset. Reacquired franchise rights are amortized over the remaining term of the franchise agreement at the time of acquisition. The weighted average lives of our identifiable, definite-lived intangible assets at December 31, 2020, were:


Covenants not to compete	6.5	yrs.
Reacquired franchise rights	7.4
Referral networks	10.0
Customer lists	16.8

The date of our annual goodwill and indefinite-lived intangible asset impairment analysis is October 1. The VITAS trade name is considered to have an indefinite life. We also capitalize the direct costs of obtaining licenses to operate either hospice programs or plumbing operations subject to a minimum capitalization threshold. These costs are amortized over the life of the license using the straight-line method. Certificates of Need (“CON”), which are required in certain states for hospice operations, are generally granted without expiration and thus, we believe them to be indefinite-lived assets subject to impairment testing.

We consider that Roto-Rooter Corp. (“RRC”), Roto-Rooter Services Co. (“RRSC”) and VITAS are appropriate reporting units for testing goodwill impairment. We consider RRC and RRSC separate reporting units but one operating segment. This is appropriate as they each have their own set of general ledger accounts that can be analyzed at “one level below an operating segment” per the definition of a reporting unit in FASB guidance.

We completed our qualitative analysis for impairment of goodwill and our indefinite-lived intangible assets as of October 1, 2020. Based on our assessment, we do not believe that it is more likely than not that our reporting units or indefinite-lived assets fair values are less than their carrying values.

LONG-LIVED ASSETS

If we believe a triggering event may have occurred that indicates a possible impairment of our long-lived assets, we perform an estimate and valuation of the future benefits of our long-lived assets (other than goodwill, the VITAS trade name and capitalized CON costs) based on key financial indicators. If the projected undiscounted cash flows of a major business unit indicate that properties and equipment or identifiable, definite-lived intangible assets have been impaired, a write-down to fair value is made.

LEASE ACCOUNTING

In February 2016, the FASB issued Accounting Standards Update “ASU No. 2016-02 Leases” which introduced a lessee model that brings most leases onto the balance sheet and updates lessor accounting to align with changes in the lessee model and the revenue recognition standard. This standard is also referred to as Accountings Standards Codification No.842 (“ASC 842”). We adopted ASC 842 effective January 1, 2019, using the optional transition method requiring leases existing at, or entered into January 1, 2019 to be recognized and measured. The transition method selected does not require adjustments to prior period amounts, which continue to be reflected in accordance with historical accounting. In addition, we elected the package of practical expedients permitted under the transition guidance within the new standard which, among other things, allowed us to carry forward the historical lease classification.

Roto-Rooter purchases equipment and leases it to certain of its independent contractors. We analyzed these leases in accordance with ASC 842 and determined they are operating leases. As a result, Roto-Rooter will continue to capitalize the equipment underlying these leases, depreciate the equipment and recognize rental income.

Adoption of the new standard resulted in right of use assets and lease liabilities of $93.1 million and $104.3 million, respectively, as January 1, 2019. In determining the liability, we used our incremental borrowing rate based on the information available at the time of adoption, since the rate implicit in the leases cannot be readily determined. At January 1, 2019, the weighted average rate was 3.47%. The standard did not materially impact our consolidated net income or cash flows. We did not book a cumulative effect adjustment upon adoption of the standard.

CLOUD COMPUTING

On January 1, 2019, we early adopted ASU No. 2018-15, “Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract”. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal use software. We adopted the ASU on a prospective basis.

As of December 31, 2020, we have two cloud computing arrangements that are service contracts. We have capitalized approximately $9.3 million related to implementation of these projects which are included in prepaid assets in the accompanying balance sheets. A VITAS human resource system was placed into service in January 2020 and is being amortized over 5 years. For the year ended December 31, 2020, $1.1 million has been amortized. There has been no other amortization expense associated with the second project, as the software has not yet been placed in service. We anticipate amortizing the assets over the original term of the arrangements plus renewal options that are reasonably certain of being exercised.

OTHER ASSETS

Debt issuance costs are included in other assets. Issuance costs related to revolving credit agreements are amortized using the straight-line method, over the life of the agreement. All other issuance costs are amortized using the effective interest method over the life of the debt. There are no amounts included in other assets that individually exceed 5% of total assets.

SALES TAX

The Roto-Rooter segment collects sales tax from customers when required by state and federal laws. We record the amount of sales tax collected net in the accompanying consolidated statements of income.

OPERATING EXPENSES

Cost of services provided and goods sold (excluding depreciation) includes salaries, wages and benefits of service providers and field personnel, material costs, medical supplies and equipment, pharmaceuticals, insurance costs, service vehicle costs and other expenses directly related to providing service revenues or generating sales. Selling, general and administrative expenses include salaries, wages, stock-based compensation expense and benefits of selling, marketing and administrative employees, advertising expenses, communications and branch telephone expenses, office rent and operating costs, legal, banking and professional fees and other administrative costs. The cost associated with VITAS sales personnel is included in cost of services provided and goods sold (excluding depreciation).

ADVERTISING

We expense the production costs of advertising the first time the advertising takes place. We pay for and expense the cost of internet advertising and placement on a “per click” basis. Similarly, the majority of our telephone directory listings and certain types of internet advertising are paid for and expensed on a “cost per call” basis. For those directories that are not on this billing basis, the cost of the directory is expensed when the directories are placed in circulation. Advertising expense for the year ended December 31, 2020, was $54.4 million (2019 – $49.5 million; 2018 - $47.0 million).

OTHER CURRENT LIABILITIES

There are no amounts included in other current liabilities that individually exceed 5% of total current liabilities, with the exception of the Medicare cap liability, which is discussed further in Note 2.

STOCK-BASED COMPENSATION PLANS

Stock-based compensation cost is measured at the grant date, based on the fair value of the award and recognized as expense over the employee’s requisite service period on a straight-line basis.

NON-EMPLOYEE STOCK COMPENSATION

In June 2018, the FASB issued Accounting Standards Update “ASU No. 2018-07 – Compensation – Stock Compensation”. The ASU expands the scope of current guidance to include all share-based payment arrangements related to the acquisition of goods and services from both non-employees and employees. The guidance in the ASU is effective for the Company in all fiscal years beginning after December 15, 2018. Adoption of this standard had no material impact on our Consolidated Financial Statements.

INSURANCE ACCRUALS

For our Roto-Rooter segment and Corporate Office, we initially self-insure for all casualty insurance claims (workers’ compensation, auto liability and general liability). As a result, we closely monitor and frequently evaluate our historical claims experience to estimate the appropriate level of accrual for self-insured claims. Our third-party administrator (“TPA”) processes and reviews claims on a monthly basis. Currently, our exposure on any single claim is capped by stop-loss coverage at $750,000. In developing our estimates, we accumulate historical claims data for the previous 10 years to calculate loss development factors (“LDF”) by insurance coverage type. LDFs are applied to known claims to estimate the ultimate potential liability for known and unknown claims for each open policy year. LDFs are updated annually. Because this methodology relies heavily on historical claims data, the key risk is whether the historical claims are an accurate predictor of future claims exposure. The risk also exists that certain claims have been incurred and not reported on a timely basis. To mitigate these risks, in conjunction with our TPA, we closely monitor claims to ensure timely accumulation of data and compare claims trends with the industry experience of our TPA.

For the VITAS segment, we initially self-insure for workers’ compensation claims. Currently, VITAS’ exposure on any single claim is capped by stop-loss coverage at $1,000,000. For VITAS’ self-insurance accruals for workers’ compensation, the valuation methods used are similar to those used internally for our other business units. We are also insured for other risks with respect to professional liability with a deductible of $750,000.

Our casualty insurance liabilities are recorded gross before any estimated recovery for amounts exceeding our stop loss limits. Estimated recoveries from insurance carriers are recorded as accounts receivable. Claims experience adjustments to our casualty and workers’ compensation accrual for the years ended December 31, 2020, 2019 and 2018, were net pretax credits of ($4,578,000), ($1,664,000), and ($3,437,000) respectively.

INCOME TAXES

Deferred taxes are provided on an asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amount of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in our opinion, it is more likely than not that some portion or all of the deferred tax assets will not be realized due to insufficient taxable income within the carryback or carryforward period available under the tax laws. Deferred tax assets and liabilities are adjusted for the effects of changes in law and rates on the date of enactment.

We are subject to income taxes in Canada, U.S. federal and most state jurisdictions. Judgement is required to determine our provision for income taxes. Our financial statements reflect expected future tax consequences of such uncertain positions assuming the taxing authorities’ full knowledge of the position and all relevant facts.

Our effective income tax rate was 19.3%, 15.9% and 14.2% for the years ended December 31, 2020, 2019, and 2018, respectively. Excess tax benefit on stock options reduced our income tax expenses by $26.1 million, $24.2 million, and $22.9 million for the years ended December 31, 2020, 2019 and 2018, respectively.

CONTINGENCIES

As discussed in Note 17, we are subject to various lawsuits and claims in the normal course of our business. In addition, we periodically receive communications from governmental and regulatory agencies concerning compliance with Medicare and Medicaid billing requirements at our VITAS subsidiary. We establish reserves for specific, uninsured liabilities in connection with regulatory and legal action that we deem to be probable and reasonably estimable. We record legal fees associated with legal and regulatory actions as the costs are incurred. We disclose material loss contingencies that are probable but not reasonably estimable and those that are at least reasonably possible.

BUSINESS COMBINATIONS

We account for acquired businesses using the acquisition method of accounting. All assets acquired and liabilities assumed are recorded at their respective fair values at the date of acquisition. The determination of fair value involves estimates and the use of valuation techniques when market value is not readily available. We use various techniques to determine fair value in accordance with accepted valuation models, primarily the income approach. The significant assumptions used in developing fair values include, but are not limited to, revenue growth rates, the amount and timing of future cash flows, discount rates, useful lives, royalty rates and future tax rates. The excess of purchase price over the fair value of assets and liabilities acquired is recorded as goodwill. See Note 7 for discussion of recent acquisitions.

ESTIMATES

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

Intangible Assets (Schedule By Year Of Projected Amortization Expense For Definite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Acquisitions [Abstract]
Amortization of definite-lived intangible assets	$ 10,000	$ 4,300	$ 399
2021	10,041
2022	10,016
2023	9,963
2024	9,916
2025	9,902
Thereafter	$ 11,705

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Net operating loss carryforwards	$ 37,300	$ 43,100
Accrued interest payable related to uncertain tax positions	163	$ 159
Undistributed earnings of domestic subsidiaries	35,100
Additional taxes if interest in all businesses is sold rather than to effect a tax-free liquidation	$ 8,400
Maximum [Member]
Income Taxes [Line Items]
Net operating losses expiration year	2040
Minimum [Member]
Income Taxes [Line Items]
Net operating losses expiration year	2025

Summary Of Significant Accounting Policies (Schedule Of Other Operating Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other operating income	$ 75,095	$ (9,132)	$ (1,300)
CARES Act Grant Income [Member]
Other operating income	80,225
Lost Revenue [Member] \| CARES Act Grant Income [Member]
Other operating income	44,784
Incremental PTO [Member] \| CARES Act Grant Income [Member]
Other operating income	21,425
Hard Costs [Member] \| CARES Act Grant Income [Member]
Other operating income	$ 14,016

Discontinued Operations

12 Months Ended

Dec. 31, 2020

Discontinued Operations [Abstract]

Discontinued Operations

8. Discontinued Operations

At December 31, 2020 and 2019, the accrual for our estimated liability for potential environmental cleanup and related costs arising from the 1991 sale of DuBois amounted to $1.7 million. Of the 2020 balance, $826,000 is included in other current liabilities and $901,000 is included in other liabilities (long-term). The estimated amounts and timing of payments of these liabilities follows (in thousands):


2021	$	826
2022		300
Thereafter		601
	$	1,727

We are contingently liable for additional DuBois-related environmental cleanup and related costs up to a maximum of $14.9 million. On the basis of a continuing evaluation of the potential liability, we believe it is not probable this additional liability will be paid. Accordingly, no provision for this contingent liability has been recorded. The potential liability is not insured, and the recorded liability does not assume the recovery of insurance proceeds. Also, the environmental liability has not been discounted because it is not possible to reliably project the timing of payments. We believe that any adjustments to our recorded liability will not materially adversely affect our financial position, results of operations or cash flows.

Stock-Based Compensation Plans (Schedule Of Other Data For Stock Options, Stock Awards And PSUs) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation at the end of the year	$ 44,851
Weighted average period over which unrecognized compensation to be recognized (years)	2 years 3 months 18 days
Actual income tax benefit realized	$ 29,543
Aggregate intrinsic value vested and expected to vest	198,910
Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Actual income tax benefit realized	276
Perfromance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation at the end of the year	$ 8,223
Weighted average period over which unrecognized compensation to be recognized (years)	1 year 8 months 12 days
Actual income tax benefit realized	$ 3,123
Aggregate intrinsic value vested and expected to vest	$ 36,479

Properties And Equipment (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Properties And Equipment [Abstract]
Net book value of computer software	$ 8.9	$ 9.6
Depreciation expense for computer software	$ 5.5	$ 4.6	$ 5.4

Leases (Components Of Cash Flow Information Related To Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from leases	$ 49,932	$ 41,525
Leased assets obtained in exchange for new operating lease liabilities	$ 58,802	$ 150,356
Weighted Average Remaining Lease Term, Operating leases	4 years 11 months 23 days
Weighted Average Discount Rate, Operating leases	2.87%

Income Taxes (Schedule Of Significant Changes To Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Balance at January 1,	$ 1,323	$ 1,348	$ 1,123
Unrecognized tax benefits due to positions taken in current year	200	234	453
Decrease due to expiration of statute of limitations	(219)	(259)	(228)
Balance at December 31,	$ 1,304	$ 1,323	$ 1,348

Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2013
Roto-Rooter [Member]
Revenue Recognition [line items]
Credit payment terms	30 days
Duration of advance notice of cancellation without penalty for both parties	90 days
Term of contract	10 years
Duration of advance notice of cancelation without penatly	60 days
Roto-Rooter [Member] \| Maximum [Member]
Revenue Recognition [line items]
Duration of services provided	5 days
Roto-Rooter [Member] \| Minimum [Member]
Revenue Recognition [line items]
Duration of services provided	3 days
VITAS [Member]
Revenue Recognition [line items]
Period of tier one care rate	60 days
Period of tier two care rate	61 days
Period of services provided after discharge	12 months
Period of service intensity add-on payment	7 days
Reimbursement period per day in 15 min. increments	4 hours
Minimum amount of care per 24-hr period	8 hours
Charity care cost	$ 8.1	$ 9.0	$ 8.2
Percentage of automatic budget reductions				2.00%
Medicare cap liability	$ 15.1	16.3
Percentage of medicaid reimbursement	95.00%
Percentage of expenses	5.00%
VITAS [Member] \| Adoption of ASC 606 [Member]
Revenue Recognition [line items]
Percentage of expenses	5.00%
VITAS [Member] \| Two Program Projected Measurement Period Liability [Member]
Revenue Recognition [line items]
Medicare cap adjustment			$ 4.1
VITAS [Member] \| Three Program Projected Measurement Period Liability [Member]
Revenue Recognition [line items]
Additional Medicare cap adjustment related to prior cap liabilities				$ 8.7
VITAS [Member] \| Four Programs Projected Measurement Period Liability [Member]
Revenue Recognition [line items]
Medicare cap adjustment	$ 6.7	$ 12.4

Acquisitions (Narrative) (Details) $ in Millions				12 Months Ended
Acquisitions (Narrative) (Details) $ in Millions	Jun. 01, 2020 USD ($)	Aug. 02, 2019 USD ($) item	Jul. 01, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) item
Reacquired Franchise Rights [Member]
Goodwill [Line Items]
Average amortization period				7 years 4 months 24 days
Non-Compete Agreements [Member]
Goodwill [Line Items]
Average amortization period				6 years 6 months
Roto-Rooter, Bloomington [Member]
Goodwill [Line Items]
Acquisition date				Jun. 01, 2020
Acquisition, in cash	$ 2.2
Roto-Rooter, Oakland [Member]
Goodwill [Line Items]
Acquisition date				Jul. 01, 2019
Acquisition, in cash			$ 18.0
HSW And Oakland [Member]
Goodwill [Line Items]
Acquisition expense					$ 3.4
HSW And Oakland [Member] \| Customer Relationships [Member]
Goodwill [Line Items]
Average amortization period				20 years 4 months 24 days
HSW And Oakland [Member] \| Non-Compete Agreements [Member]
Goodwill [Line Items]
Average amortization period					4 years
Roto-Rooter [Member]
Goodwill [Line Items]
Number of completed business combinations \| item						4
Acquisition, in cash						$ 42.2
Roto-Rooter [Member] \| HSW RR, Inc [Member]
Goodwill [Line Items]
Acquisition, in cash		$ 120.0
Additional business combination cost		$ 1.4		$ 1.4
Number of owned and operated franchises \| item		14
VITAS [Member]
Goodwill [Line Items]
Number of completed business combinations \| item						1
Acquisition, in cash						$ 11.0
Revolving Credit Facility [Member]
Goodwill [Line Items]
Borrowing amount		$ 450.0

Legal And Regulatory Matters

12 Months Ended

Dec. 31, 2020

Legal And Regulatory Matters [Abstract]

Legal And Regulatory Matters

17. Legal and Regulatory Matters

The VITAS segment of the Company’s business operates in a heavily-regulated industry. As a result, the Company is subjected to inquiries and investigations by various government agencies, which can result in penalties including repayment obligations, funding withholding, or debarment, as well as to lawsuits, including qui tam actions. The following sections describe the various ongoing material lawsuits and investigations of which the Company is currently aware. Other than as described below, it is not possible at this time for us to estimate either the timing or outcome of any of those matters, or whether any potential loss, or range of potential losses, is probable or reasonably estimable.

Regulatory Matters and Litigation

On October 30, 2017, the Company entered into a settlement agreement to resolve civil litigation under the False Claims Act brought by the United States Department of Justice (“DOJ”) on behalf of the OIG and various relators concerning VITAS, filed in the U.S. District Court of the Western District of Missouri. The Company denied any violation of law and agreed to settlement without admission of wrongdoing.

In connection with the settlement, VITAS and certain of its subsidiaries entered into a corporate integrity agreement (“CIA”) on October 30, 2017. The CIA formalizes various aspects of VITAS’ already existing Compliance Program and contains requirements designed to document compliance with federal healthcare program requirements. It has a term of five years during which it imposes monitoring, reporting, certification, oversight, screening and training obligations, certain of which had previously been implemented by VITAS. It also requires VITAS to engage an Independent Review Organization to perform audit and review functions and to prepare reports regarding compliance with federal healthcare programs. In the event of breach of the CIA, VITAS could become liable for payment of stipulated penalties or could be excluded from participation in federal healthcare programs.

The Company entered into a settlement agreement in March 2019 that resolved the California state-wide wage and hour class action claims raised in four separate cases: (1) Jordan A. Seper on behalf of herself and others similarly situated v. VITAS Healthcare Corporation of California, a Delaware corporation; VITAS Healthcare Corp of CA, a business entity unknown; and DOES 1 to 100, inclusive; Los Angeles Superior Court Case Number BC 642857 (“Seper”); (2) Jiwan Chhina v. VITAS Health Services of California, Inc., a California corporation; VITAS Healthcare Corporation of California, a Delaware corporation; VITAS Healthcare Corporation of California, a Delaware corporation dba VITAS Healthcare Inc.; and DOES 1 to 100, inclusive; San Diego Superior Court Case Number 37-2015-00033978-CU-OE-CTL (“Chhina”) (which was subsequently merged with Seper); (3) Chere Phillips and Lady Moore

v. VITAS Healthcare Corporation of California, Sacramento County Superior Court, Case No. 34-2017-0021-2755 (“Phillips and Moore”); and (4) Williams v. VITAS Healthcare Corporation of California, Alameda County Superior Court Case No. RG 17853886 (“Williams”). These actions were brought by both current and former employees including a registered nurse, a licensed vocational nurse (LVN), home health aides and a social worker. Each action stated multiple claims generally including (1) failure to pay minimum wage for all hours worked; (2) failure to provide overtime for all hours worked; (3) failure to pay wages for all hours at the regular rate; (4) failure to provide meal periods; (5) failure to provide rest breaks; (6) failure to provide complete and accurate wage statements; (7) failure to pay for all reimbursement expenses; (8) unfair business practices; and (9) violation of the California Private Attorneys General Act. The cases generally asserted claims on behalf of classes defined to include all current and former non-exempt employees employed with VITAS in California within the four years preceding the filing of each lawsuit.

The settlement amount of $5.75 million plus employment taxes was recorded in the first quarter of 2019. The definition of the class to participate in the settlement is intended to cover claims raised in the consolidated Seper/Chhina matter, claims raised in Phillips and Moore, as well as any class claims in Williams. On January 28, 2020, the court granted preliminary approval of the settlement. The court granted final approval of the settlement hearing on December 8, 2020. Subsequent to year end, the settlement was paid.

Alfred Lax (“Lax”), a former employee of Roto-Rooter Services Company (“RRSC”) filed a class action lawsuit in Santa Clara County Superior Court in November of 2018 alleging (1) failure to provide or compensate for required rest breaks; (2) failure to properly pay for all hours worked; (3) failure to provide accurate wage statements; (4) failure to reimburse for work-related expenses; and (5) unfair business practices. Lax stated these claims as a representative of a class defined as all service technicians employed by RRSC in California during the four years preceding the filing of the complaint. The lawsuit is, Alfred Lax on behalf of himself and all others similarly situated v. Roto-Rooter Services Company, and Does 1 through 50 inclusive; Santa Clara County Superior Court Case Number 18CV338652. The Company entered into a settlement agreement in August 2020 to resolve the allegations, for a settlement amount of $2.6 million plus employment taxes. The settlement includes technicians in its Menlo Park and Bristol locations. The settlement was recorded in the third quarter of 2020. As of December 31, 2020, $3.1 million was accrued in the accompanying Consolidated Balance Sheet. The Court’s preliminary approval of the settlement was granted on November 19, 2020.

On October 16, 2020, VITAS received a Civil Investigative Demand (“CID”) issued by the U.S. Department of Justice pursuant to the False Claims Act concerning allegations of the submission of false claims for hospice services for which reimbursement was sought from federal healthcare programs, including Medicare. The CID has requested information regarding 32 patients from our Florida operations. We are cooperating with the U.S. Department of Justice with respect to this investigation. The Company cannot predict when the investigation will be resolved or the outcome of the investigation.

Please see Note 8 above relating to potential contingent environmental obligations.

Regardless of the outcome of any of the preceding matters, dealing with the various regulatory agencies and opposing parties can adversely affect us through defense costs, potential payments, withholding of governmental funding, diversion of management time, and related publicity. Although the Company intends to defend them vigorously, there can be no assurance that those suits will not have a material adverse effect on the Company.

Capital Stock Transactions (Tables)

12 Months Ended

Dec. 31, 2020

Capital Stock Transactions [Abstract]

Schedule Of Repurchased Capital Stock


		For the Years Ended December 31,
		2020		2019		2018
Total cost of repurchased shares (in thousands):	$	175,594	$	92,631	$	158,884
Shares repurchased		384,252		269,009		561,146
Weighted average price per share	$	456.98	$	344.34	$	283.14

Segments And Nature Of The Business (Segment Data) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net income	$ 319,466	$ 219,923	$ 205,544
Total interest income	757	513	671
Total interest expense	2,355	4,535	4,990
Total income tax provision	76,524	41,686	34,056
Total identifiable assets	1,434,911	1,268,317	975,529
Total additions to long-lived assets	61,793	189,024	105,883
Total depreciation and amortization	56,583	45,205	38,863
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net income	359,176	259,532	237,557
Total interest income	26,897	26,800	20,412
Total interest expense	506	514	494
Total income tax provision	113,511	78,987	69,697
Total identifiable assets	1,171,347	1,170,935	904,979
Total additions to long-lived assets	56,547	188,024	105,755
Total depreciation and amortization	56,447	45,049	38,716
Intercompany Eliminations [Member]
Segment Reporting Information [Line Items]
Total interest income	(26,153)	(26,287)	(19,741)
VITAS [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net income	238,782	155,822	138,846
Total interest income	20,565	18,515	13,412
Total interest expense	166	169	175
Total income tax provision	76,473	48,711	40,847
Total identifiable assets	672,246	663,455	553,949
Total additions to long-lived assets	28,865	25,530	36,969
Total depreciation and amortization	22,239	20,055	19,700
Roto-Rooter [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net income	120,394	103,710	98,711
Total interest income	6,332	8,285	7,000
Total interest expense	340	345	319
Total income tax provision	37,038	30,276	28,850
Total identifiable assets	499,101	507,480	351,030
Total additions to long-lived assets	27,682	162,494	68,786
Total depreciation and amortization	34,208	24,994	19,016
Corporate [Member]
Segment Reporting Information [Line Items]
Net income	(39,710)	(39,609)	(32,013)
Total interest income	13
Total interest expense	1,849	4,021	4,496
Total income tax provision	(36,987)	(37,301)	(35,641)
Total identifiable assets	263,564	97,382	70,550
Total additions to long-lived assets	5,246	1,000	128
Total depreciation and amortization	$ 136	$ 156	$ 147
Sales Revenue [Member] \| VITAS [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	64.00%	66.00%	67.00%
Sales Revenue [Member] \| Roto-Rooter [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	36.00%	34.00%	33.00%

Financial Instruments

12 Months Ended

Dec. 31, 2020

Financial Instruments [Abstract]

Financial Instruments

16. Financial Instruments

FASB’s authoritative guidance on fair value measurements defines a hierarchy which prioritizes the inputs in fair value measurements. Level 1 measurements are measurements using quoted prices in active markets for identical assets or liabilities. Level 2 measurements use significant other observable inputs. Level 3 measurements are measurements using significant unobservable inputs which require a company to develop its own assumptions. In recording the fair value of assets and liabilities, companies must use the most reliable measurement available.

The following shows the carrying value, fair value and the hierarchy for our financial instruments as of December 31, 2020 (in thousands):


				Fair Value Measure
		Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

Investments of deferred compensation plans held in trust	$	88,811	$	88,811	$	-	$	-

The following shows the carrying value, fair value and the hierarchy for our financial instruments as of December 31, 2019 (in thousands):


				Fair Value Measure
		Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

Investments of deferred compensation plans held in trust	$	77,446	$	77,446	$	-	$	-
Long-term debt and current portion of long-term debt		90,000		-		90,000		-

For cash and cash equivalents, accounts receivable and accounts payable, the carrying amount is a reasonable estimate of fair value because of the liquidity and short-term nature of these instruments. As further described in Note 3, our outstanding long-term debt and current portion of long-term debt have floating interest rates that are reset at short-term intervals, generally 30 or 60 days. The interest rate we pay also includes an additional amount based on our current leverage ratio. As such, we believe our borrowings reflect significant nonperformance risks, mainly credit risk. Based on these factors, we believe the fair value of our long-term debt and current portion of long-term debt approximate the carrying value.

Summary Of Significant Accounting Policies (Schedule Of Weighted Average Lives Of Property And Equipment) (Details)	12 Months Ended
	Dec. 31, 2020
Building And Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Weighted average lives of property and equipment	14 years 10 months 24 days
Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Weighted average lives of property and equipment	9 years 7 months 6 days
Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Weighted average lives of property and equipment	5 years
Computer Software [Member]
Property, Plant and Equipment [Line Items]
Weighted average lives of property and equipment	4 years 1 month 6 days
Furniture And Fixtures [Member]
Property, Plant and Equipment [Line Items]
Weighted average lives of property and equipment	4 years 7 months 6 days

Revenue Recognition (Schedule Of Disaggregated Revenue) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subtotal	$ 1,368,489	$ 1,319,851	$ 1,223,524
Net revenue	1,334,667	1,281,184	1,197,562
Roto-Rooter [Member]
Subtotal	762,035	675,091	603,838
Implicit price concessions and credit memos	(17,119)	(17,720)	(18,752)
Net revenue	744,916	657,371	585,086
Roto-Rooter [Member] \| Short-Term Core Service Jobs [Member]
Subtotal	552,500	482,625	425,845
Roto-Rooter [Member] \| Water Restoration [Member]
Subtotal	126,378	115,949	109,484
Roto-Rooter [Member] \| Contractor Revenue [Member]
Subtotal	64,727	58,086	50,169
Roto-Rooter [Member] \| Franchise Fees [Member]
Subtotal	4,893	6,152	6,382
Roto-Rooter [Member] \| All Other [Member]
Subtotal	$ 13,537	$ 12,279	$ 11,958

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Earnings Per Share (Schedule Of Computation Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share[Abstract]
Earnings	$ 319,466	$ 219,923	$ 205,544
Diluted earnings	$ 319,466	$ 219,923	$ 205,544
Earnings, Shares	15,955	15,969	16,059
Dilutive stock options, Shares	368	480	650
Nonvested stock awards, Shares	75	78	94
Diluted earnings, Shares	16,398	16,527	16,803
Earnings, Earnings per Share	$ 20.02	$ 13.77	$ 12.80
Diluted earnings, Earnings per Share	$ 19.48	$ 13.31	$ 12.23

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Long-Term Debt And Lines of Credit (Narrative) (Details) - USD ($)		12 Months Ended
	Jun. 20, 2018	Dec. 31, 2020	Dec. 31, 2019	Aug. 02, 2019
Debt Instrument [Line Items]
Standby letters of credit		$ 37,900,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowing amount				$ 450,000,000
2018 Credit Agreement [Member]
Debt Instrument [Line Items]
Standby letters of credit		$ 37,900,000
2018 Credit Agreement [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate		1.00%	1.00%
2018 Credit Agreement [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility period, years	5 years
Borrowing amount	$ 450,000,000
Deferred financing costs		$ 1,000,000.0
Unused lines of credit		$ 412,100,000
2018 Credit Agreement [Member] \| Expansion Feature [Member]
Debt Instrument [Line Items]
Borrowing amount	$ 150,000,000

Summary Of Significant Accounting Policies (Narrative) (Details)	8 Months Ended	12 Months Ended
	Dec. 31, 2020 USD ($) item	Dec. 31, 2020 USD ($) entity item	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Apr. 10, 2020 USD ($)	Jan. 01, 2019 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of wholly-owned subsidiaries \| entity		2
Standby letters of credit outstanding	$ 37,900,000	$ 37,900,000
Deferred payroll taxes		36,350,000
Deferred payroll taxes - short-term liability		18,200,000
Deferred payroll taxes - Long-term liability		18,200,000
Revenue		2,079,583,000	$ 1,938,555,000	$ 1,782,648,000
Other operating income		75,095,000	(9,132,000)	(1,300,000)
Lease right of use assets	123,448,000	123,448,000	111,652,000
Lease liabilities	$ 135,410,000	$ 135,410,000	125,936,000
Weighted average rate	2.87%	2.87%
Number of cloud computing arrangements \| item	2	2
Advertising expense in continuing operations		$ 54,400,000	49,500,000	47,000,000.0
Adjustments to casualty and workers compensation accrual, net pretax debits/(credits)		$ (4,578,000)	$ (1,664,000)	$ (3,437,000)
Historical claims data, period of time		10 years
Effective income tax rate		19.30%	15.90%	14.20%
Excess tax benefit on stock options reduced income tax expense		$ 26,100,000	$ 24,200,000	$ 22,900,000
CARES Act [Member]
Summary Of Significant Accounting Policies [Line Items]
Relief Fund	$ 100,000,000,000	100,000,000,000
CARES Act - 2019 Medicare Fee-For-Service [Member]
Summary Of Significant Accounting Policies [Line Items]
Relief Fund	$ 30,000,000,000	$ 30,000,000,000
Total Assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		5.00%
Total Current Liabilities [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		5.00%
Roto-Rooter [Member]
Summary Of Significant Accounting Policies [Line Items]
Expected credit losses from COVID-19		$ 657,000
VITAS [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of COVID positive patients cared \| item		5,700
VITAS [Member] \| CARES Act [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of Medicare sequestration reimbursement	2.00%	2.00%
Revenue		$ 16,800,000
VITAS [Member] \| CARES Act - 2019 Medicare Fee-For-Service [Member]
Summary Of Significant Accounting Policies [Line Items]
Relief Fund					$ 80,200,000
Roto Rooter And Corporate Office [Member]
Summary Of Significant Accounting Policies [Line Items]
Exposure on single claim	$ 750,000	$ 750,000
Roto-Rooter [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments \| item		1
Percent of population serviced		90.00%
VITAS [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of service providers \| item		1
Exposure on single claim	1,000,000	$ 1,000,000
Professional liability and other risks, insurance deductible	750,000	$ 750,000
Medicare [Member] \| Accounts Receivable [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		74.00%	71.00%
Medicaid [Member] \| Accounts Receivable [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		20.00%	26.00%
Medicare And Medicaid [Member] \| Accounts Receivable [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		80.00%
ASU 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Lease right of use assets						$ 93,100,000
Lease liabilities						$ 104,300,000
Weighted average rate						3.47%
Cloud Computing [Member] \| ASU No. 2018-15 [Member]
Summary Of Significant Accounting Policies [Line Items]
Capitalized contract cost	$ 9,300,000	$ 9,300,000
Capitalized contract cost, amortization expense		1,100,000
Lost Revenue [Member] \| VITAS [Member]
Summary Of Significant Accounting Policies [Line Items]
Other operating income		44,800,000
Lost Revenue [Member] \| Maximum [Member] \| VITAS [Member]
Summary Of Significant Accounting Policies [Line Items]
Other operating income		$ 61,400,000

Stock-Based Compensation Plans (Schedule Of Total Stock Option, Stock Award And PSU Activity) (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of Options, Granted

298,670

287,010

246,350

Weighted Average Grant-Date Price, Granted

$ 466.43

$ 331.69

$ 333.75

Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of Options, Outstanding at January 1, 2020

1,205,948

Number of Options, Granted

298,670

Number of Options, Exercised/Vested

(419,145)

Number of Options, Canceled/Forfeited

(15,402)

Number of Options, Outstanding at December 31, 2020

1,070,071

1,205,948

Number of Options, Vested and expected to vest at December 31, 2020

1,070,071

Number of Options, Exercisable at December 31, 2020

510,938

Weighted Average Exercise Price, Outstanding at January 1, 2020

$ 252.77

Weighted Average Exercise Price, Granted

471.74

Weighted Average Exercise Price, Exercised/Vested

176.73

Weighted Average Exercise Price, Canceled/Forfeited

369.84

Weighted Average Exercise Price, Outstanding at December 31, 2020

341.99

$ 252.77

Weighted Average Exercise Price, Vested and expected to vest at December 31, 2020

341.99

Weighted Average Exercise Price, Exercisable at December 31, 2020

$ 246.03

Weighted Average Remaining Contractual Life (Years), Outstanding at December 31, 2020

3 years 6 months

Weighted Average Remaining Contractual Life (Years), Vested and expected to vest at December 31, 2020

3 years 6 months

Weighted Average Remaining Contractual Life (Years), Exercisable at December 31, 2020

2 years 8 months 12 days

Aggregate Intrinsic Value, Outstanding at December 31, 2020

$ 198,910

Aggregate Intrinsic Value, Vested and dxpected to vest at December 31, 2020

198,910

Aggregate Intrinsic Value, Exercisable at December 31, 2020

$ 144,003

Stock Awards [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of Awards, Outstanding at January 1, 2020

Number of Awards, Granted

2,511

Number of Awards, Exercised/Vested

(2,511)

Number of Awards, Canceled/ Forfeited

Number of Awards, Outstanding at December 31, 2020

Number of Awards, Vested and expected to vest at December 31, 2020

Weighted Average Grant-Date Price, Outstanding at January 1, 2020

Weighted Average Grant-Date Price, Granted

466.43

Weighted Average Grant-Date Price, Exercised/Vested

466.34

Weighted Average Grant-Date Price, Canceled/Forfeited

Weighted Average Grant-Date Price, Outstanding at December 31, 2020

Weighted Average Exercise Price, Vested and expected to vest at December 31, 2020

^[1]

Perfromance Stock Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of Nonvested Target Units, Outstanding at January 1, 2020

42,978

Number of Nonvested Target Units, Granted

22,378

Number of Nonvested Target Units, Exercised/Vested

(26,454)

Number of Nonvested Target Units, Canceled/Forfeited

(706)

Number of Nonvested Target Units, Outstanding at December 31, 2020

38,196

42,978

Number of Nonvested Target Units, Vested and expected to vest at December 31, 2020

69,106

Weighted Average Grant-Date Price, Outstanding at January 1, 2020

$ 288.78

Weighted Average Grant-Date Price, Granted

365.12

Weighted Average Grant-Date Price, Exercised/Vested

197.02

Weighted Average Grant-Date Price, Canceled/Forfeited

472.68

Weighted Average Grant-Date Price, Outstanding at December 31, 2020

396.93

$ 288.78

Weighted Average Exercise Price, Vested and expected to vest at December 31, 2020

^[1]

$ 386.33

[1]	Amount includes 26,525 share units which vested and were converted to shares of stock and distributed in the first quarter of 2021.

Acquisitions (Schedule Of Franchise Revenue, Valuation And Amortization Of Reacquired Franchise Rights) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Revenue	$ 2,079,583	$ 1,938,555	$ 1,782,648
Annualized Amortization of	$ 10,000	4,300	399
Franchise [Member]
Business Acquisition [Line Items]
Revenue		6,100	6,382
HSW RR, Inc [Member]
Business Acquisition [Line Items]
Revenue		20,141	1,782
Roto-Rooter, Oakland [Member]
Business Acquisition [Line Items]
Revenue		5,150	95
HSW And Oakland [Member]
Business Acquisition [Line Items]
Revenue		$ 25,291	1,877
All Other Franchise Territories [Member]
Business Acquisition [Line Items]
Revenue			4,505
Reacquired Franchise Rights [Member] \| HSW RR, Inc [Member]
Business Acquisition [Line Items]
Valuation of			52,980
Annualized Amortization of			7,258
Reacquired Franchise Rights [Member] \| Roto-Rooter, Oakland [Member]
Business Acquisition [Line Items]
Valuation of			6,190
Annualized Amortization of			825
Reacquired Franchise Rights [Member] \| HSW And Oakland [Member]
Business Acquisition [Line Items]
Valuation of			59,170
Annualized Amortization of			$ 8,083

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Income Taxes

11. Income Taxes

The provision for income taxes comprises the following (in thousands):


		For the Years Ended December 31,
		2020		2019		2018
Current
U.S. federal	$	58,602	$	36,779	$	23,934
U.S. state and local		15,950		7,078		4,484
Foreign		539		600		452
Deferred
U.S. federal, state and local		1,456		(2,773)		5,185
Foreign		(23)		2		1
Total	$	76,524	$	41,686	$	34,056

A summary of the temporary differences that give rise to deferred tax assets/ (liabilities) follows (in thousands):


		December 31,
		2020		2019
Accrued liabilities	$	42,151	$	32,498
Lease liabilities		35,888		32,476
Implicit price concessions		7,031		4,165
Stock compensation expense		4,047		5,425
State net operating loss carryforwards		2,030		2,678
Other		888		592
Deferred income tax assets		92,035		77,834
Amortization of intangible assets		(40,619)		(39,377)
Right of use lease assets		(32,788)		(28,807)
Accelerated tax depreciation		(31,686)		(21,942)
Currents assets		(3,921)		(2,510)
Market valuation of investments		(2,382)		(2,058)
State income taxes		(1,161)		(1,477)
Other		(142)		(167)
Deferred income tax liabilities		(112,699)		(96,338)
Net deferred income tax liabilities	$	(20,664)	$	(18,504)

At December 31, 2020 and 2019, state net operating loss carryforwards were $37.3 million and $43.1 million, respectively. These net operating losses will expire, in varying amounts, between 2025 and 2040. Based on our history of operating earnings, we have determined that our operating income will, more likely than not, be sufficient to ensure realization of our deferred income tax assets.

A reconciliation of the beginning and ending of year amount of our unrecognized tax benefit is as follows (in thousands):


		2020		2019		2018
Balance at January 1,	$	1,323	$	1,348	$	1,123
Unrecognized tax benefits due to positions taken in current year		200		234		453
Decrease due to expiration of statute of limitations		(219)		(259)		(228)
Balance at December 31,	$	1,304	$	1,323	$	1,348

We file tax returns in the U.S. federal jurisdiction and various states. The years ended December 31, 2017 and forward remain open for review for federal income tax purposes. The earliest open year relating to any of our major state jurisdictions is the fiscal year ended December 31, 2015. During the next twelve months, we do not anticipate a material net change in unrecognized tax benefits.

We classify interest related to our accrual for uncertain tax positions in separate interest accounts. As of December 31, 2020, and 2019, we have approximately $163,000 and $159,000, respectively, accrued in interest payable related to uncertain tax positions. These accruals are included in other current liabilities in the accompanying consolidated balance sheet. Net interest expense related to uncertain tax positions included in interest expense in the accompanying consolidated statement of income is not material.

The difference between the actual income tax provision for continuing operations and the income tax provision calculated at the statutory U.S. federal tax rate is explained as follows (in thousands):


		For the Years Ended December 31,
		2020			2019			2018

Income tax provision calculated using the statutory rate of 21%	$	83,158		$	54,938		$	50,316
Excess stock compensation tax benefits		(26,089)			(24,177)			(22,862)
State and local income taxes, less federal income tax effect		13,855			7,880			7,150
Nondeductible expenses		5,377			3,048			2,280
Other--net		223			(3)			(2,828)
Income tax provision	$	76,524		$	41,686		$	34,056
Effective tax rate		19.3	%		15.9	%		14.2	%

Summarized below are the total amounts of income taxes paid during the years ended December 31 (in thousands):


2020	$	61,517
2019		44,063
2018		9,749

Provision has not been made for additional taxes on $35.1 million of undistributed earnings of our domestic subsidiaries. Should we elect to sell our interest in these businesses rather than to affect a tax-free liquidation, additional taxes amounting to approximately $8.4 million would be incurred based on current income tax rates.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Income Taxes (Schedule Of Difference Between Actual Income Tax Provision For Continuing Operations And Income Tax Provision Calculated At Statutory U.S. Federal Tax Rate) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Income tax provision calculated using the statutory rate of 21%	$ 83,158	$ 54,938	$ 50,316
Excess stock compensation tax benefits	(26,089)	(24,177)	(22,862)
State and local income taxes, less federal income tax effect	13,855	7,880	7,150
Nondeductible expenses	5,377	3,048	2,280
Other --net	223	(3)	(2,828)
Income tax provision	$ 76,524	$ 41,686	$ 34,056
Effective tax rate	19.30%	15.90%	14.20%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Summary Of Significant Accounting Policies (Schedule Of Allowance For Doubtful Accounts) (Details) - Roto-Rooter [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
BALANCE AT BEGINNING OF PERIOD	$ (353)
ADDITIONS, (CHARGED) CREDITED TO COSTS AND EXPENSES	(657)
ADDITIONS, (CHARGED) CREDITED TO OTHER ACCOUNTS	(475)
DEDUCTIONS	488
OTHER	(25)
BALANCE AT END OF PERIOD	$ (1,022)

Leases (Narrative) (Details) $ in Thousands	12 Months Ended
Leases (Narrative) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Option to extend the lease, term	up to 5 years
Option to terminate the lease, term	within 1 year
Operating lease payments related to extended lease terms	$ 2,300
Lease payments signed but not yet commenced	$ 1,936
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee Leasing Arrangements, Operating Leases, Term of Contract	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee Leasing Arrangements, Operating Leases, Term of Contract	10 years

Earnings Per Share (Narrative) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share[Abstract]
Excluded stock options, Anti-dilutive	566	287	246

Intangible Assets

12 Months Ended

Dec. 31, 2020

Intangible Assets [Abstract]

Intangible Assets

‎

6. Intangible Assets

Amortization of definite-lived intangible assets for the years ended December 31, 2020, 2019, and 2018, was $10.0 million, $4.3 million and $399,000 respectively. The following is a schedule by year of projected amortization expense for definite-lived intangible assets (in thousands):


2021	$	10,041
2022		10,016
2023		9,963
2024		9,916
2025		9,902
Thereafter		11,705

The balance in identifiable intangible assets comprises the following (in thousands):


		Gross		Accumulated		Net Book
		Asset		Amortization		Value
December 31, 2020
Referral networks	$	21,850	$	(21,294)	$	556
Covenants not to compete		10,076		(9,632)		444
Customer lists		4,746		(1,577)		3,169
Reacquired franchise rights		72,478		(15,104)		57,374
Subtotal - definite-lived intangibles		109,150		(47,607)		61,543
VITAS trade name		51,300		-		51,300
Roto-Rooter trade name		150		-		150
Operating licenses		5,092		-		5,092
Total	$	165,692	$	(47,607)	$	118,085

December 31, 2019
Referral networks	$	21,850	$	(21,223)	$	627
Covenants not to compete		10,036		(9,478)		558
Customer lists		4,746		(1,362)		3,384
Reacquired franchise rights		71,618		(5,557)		66,061
Subtotal - definite-lived intangibles		108,250		(37,620)		70,630
VITAS trade name		51,300		-		51,300
Roto-Rooter trade name		150		-		150
Operating licenses		4,290		-		4,290
Total	$	163,990	$	(37,620)	$	126,370

Leases (Components Of Balance Sheet Information Related To Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Operating lease assets	$ 123,448	$ 111,652
Liabilities
Current operating leases	36,200	39,280
Noncurrent operating leases	99,210	86,656
Total operating lease liabilities	$ 135,410	$ 125,936

Income Taxes (Schedule Of Temporary Differences That Give Rise To Deferred Tax Assets (Liabilities)) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Accrued liabilities	$ 42,151	$ 32,498
Lease liabilities	35,888	32,476
Implicit price concessions	7,031	4,165
Stock compensation expense	4,047	5,425
State net operating loss carryforwards	2,030	2,678
Other	888	592
Deferred income tax assets	92,035	77,834
Amortization of intangible assets	(40,619)	(39,377)
Right of use lease assets	(32,788)	(28,807)
Accelerated tax depreciation	(31,686)	(21,942)
Current assets	(3,921)	(2,510)
Market valuation of investments	(2,382)	(2,058)
State income taxes	(1,161)	(1,477)
Other	(142)	(167)
Deferred income tax liabilities	(112,699)	(96,338)
Net deferred income tax liabilities	$ (20,664)	$ (18,504)

Retirement Plans

12 Months Ended

Dec. 31, 2020

Retirement Plans [Abstract]

Retirement Plans

14. Retirement Plans

Retirement obligations under various plans cover substantially all full-time employees who meet age and/or service eligibility requirements. All plans providing retirement benefits to our employees are defined contribution plans. Expenses for our retirement and profit-sharing plans, excess benefit plans and other similar plans are as follows (in thousands):


For the Years Ended December 31,
	2020		2019		2018

$	27,044	$	25,529	$	16,502

These expenses include the impact of market gains and losses on assets held in deferred compensation plans.

Trust assets invested in shares of our stock are included in treasury stock, and the corresponding liability is included in a separate component of stockholders’ equity. At December 31, 2020, these trusts held 74,262 shares at historical average cost of $2.3 million (2019 – 77,963 shares or $2.3 million).

We have excess benefit plans for key employees whose participation in the qualified plans is limited by U.S. Employee Retirement Income Security Act requirements. Benefits are determined based on theoretical participation in the qualified plans. Benefits are only invested in mutual funds, and participants are not permitted to diversify accumulated benefits in shares of our capital stock.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Leases (Summary Of Maturity Of Operating Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 43,437
2022	31,059
2023	24,174
2024	18,243
2025	12,175
Thereafter	18,614
Total lease payments	147,702
Less: interest	(10,356)
Less: lease obligations signed but not yet commenced	(1,936)
Total liability recognized on the balance sheet	$ 135,410	$ 125,936

Acquisitions

12 Months Ended

Dec. 31, 2020

Acquisitions [Abstract]

Acquisitions

7. Acquisitions

On June 1, 2020, we completed the acquisition of a Roto-Rooter franchise and the related assets in Bloomington, IN for $2.2 million in cash.

On August 2, 2019, we entered into an Asset Purchase Agreement (the “Agreement”) to purchase substantially all of the assets of HSW RR, Inc., a Delaware corporation (“HSW”) and certain related assets of its affiliates, for $120.0 million, subject to a working capital adjustment that resulted in an additional $1.4 million payment to HSW. HSW owned and operated fourteen Roto-Rooter franchises mainly in the southwestern section of the United States, including Los Angeles, Dallas and Phoenix. Included in the assets purchased were the assets of Western Drain Supply, Inc., a plumbing supply company. The purchase was made using a combination of cash on-hand and borrowings under Chemed’s existing $450 million revolving credit facility. On September 16, 2019, we completed the acquisition.

On July 1, 2019, we completed the acquisition of a Roto-Rooter franchise and the related assets in Oakland, CA for $18.0 million in cash.

The acquisitions were made as a continuation of Roto-Rooter’s strategy to re-acquire franchises in large markets in the United States. The allocation for the two acquisitions completed in 2019 is as follows (in thousands):


	HSW		Oakland		Total
Goodwill	$	56,191	$	10,535	$	66,726
Reacquired franchise rights		52,980		6,190		59,170
Property, plant, and equipment		5,998		675		6,673
Working capital		3,760		22		3,782
Customer relationships		2,220		500		2,720
Non-compete agreements		140		100		240
Other assets and liabilities - net		128		23		151
	$	121,417	$	18,045	$	139,462

Included above is $1.4 million related to the HSW acquisition excess working capital. The amount was paid in 2020.

Reacquired franchise rights, included in identifiable intangibles on the Consolidated Balance Sheets, are amortized over the period remaining in each individual franchise agreement. The average amortization period for reacquired franchise rights for the acquisitions made in 2019 is 7.4 years.

Revenue and net income for the two acquisitions completed in 2019 for the period we owned them in 2019 are as follows (in thousands):


	HSW		Oakland		Total
Service revenues and sales	$	20,141	$	5,150	$	25,291
Net income/(loss)		(2,777)		231		(2,546)

Included in 2019 net income for the two acquisitions is $3.4 million of one-time acquisition expense.

The franchise fee revenue, the valuation of reacquired franchise rights and amortization for the acquired franchises are as follows:


					Annualized
			Valuation		Amortization of
	2018 Franchise		of Reacquired		Reacquired
	Revenue		Franchise Rights		Franchise Rights
HSW	$	1,782	$	52,980	$	7,258
Oakland		95		6,190		825
Subtotal		1,877	$	59,170	$	8,083
All other franchise territories		4,505
	$	6,382

As a result of the acquisitions, 2018 is the last full-year of franchise revenue received from HSW and Oakland. Total franchise revenue in 2019 was $6.1 million.

Customer relationships, included in identifiable intangibles on the Consolidated Balance Sheets, are amortized over an average amortization period of 20.4 years. Non-compete agreements are amortized over the period of the agreement. The average amortization period for non-compete agreements for the transactions made in 2019 is 4.0 years.

Goodwill is assessed for impairment on a yearly basis as of October 1. The primary factor that contributed to the purchase price resulting in the recognition of goodwill is operational efficiencies expected as a result of consolidating stand- alone franchises and Roto-Rooter’s network of nationwide branches. All goodwill recognized is deductible for tax purposes.

During 2018, we completed four business combinations of former franchisees within the Roto-Rooter segment for $42.2 million in cash to increase our market penetration. The VITAS segment completed one business combination in Florida for $11.0 million to increase our market penetration.

The pro forma revenue and earnings of the Company, as if all acquisitions made in fiscal 2018 and 2019 were completed on January 1, 2018, are as follows (in thousands, except per share data):


	For the Years Ended December 31,
	2019		2018
Service revenues and sales	$	1,995,688	$	1,900,218
Net income	$	228,939	$	224,851
Earnings per share	$	14.34	$	14.00
Diluted earnings per share	$	13.85	$	13.38

Revenues and expenses for acquisitions made in 2020 are not material.

Cash Overdrafts And Cash Equivalents (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Overdrafts And Cash Equivalents [Abstract]
Capitalized property and equipment were not paid for	$ 3,900	$ 1,800	$ 3,200
Cash overdrafts included in accounts payable	0	9,800
Amount invested	$ 100	$ 100

Revenue Recognition (Schedule Of Patient Care Service Revenue) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	$ 1,368,489	$ 1,319,851	$ 1,223,524
Net revenue	1,334,667	1,281,184	1,197,562
All Other Revenue- Self-pay, Respite Care, Etc. [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	11,164	10,433	7,831
Medicare Cap [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Medicare cap adjustment	(6,678)	(12,415)	(4,123)
Implicit Price Concessions [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Implicit price concessions	(14,970)	(14,893)	(11,785)
Room And Board [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Room and board, net	(12,174)	(11,359)	(10,054)
VITAS [Member] \| Routine Home Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	1,106,358	1,076,025	1,010,518
VITAS [Member] \| Continuous Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	136,011	133,473	122,498
VITAS [Member] \| Inpatient Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	114,956	99,920	82,677
VITAS [Member] \| Care Services Total [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	1,357,325	1,309,418	1,215,693
VITAS [Member] \| Medicare [Member] \| Routine Home Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	1,033,487	1,003,308	939,951
VITAS [Member] \| Medicare [Member] \| Continuous Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	123,696	121,019	110,596
VITAS [Member] \| Medicare [Member] \| Inpatient Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	100,259	84,752	69,354
VITAS [Member] \| Medicare [Member] \| Care Services Total [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	1,257,442	1,209,079	1,119,901
VITAS [Member] \| Medicaid [Member] \| Routine Home Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	48,813	48,420	47,609
VITAS [Member] \| Medicaid [Member] \| Continuous Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	6,344	6,712	6,126
VITAS [Member] \| Medicaid [Member] \| Inpatient Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	9,646	9,102	8,156
VITAS [Member] \| Medicaid [Member] \| Care Services Total [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	64,803	64,234	61,891
VITAS [Member] \| Commercial [Member] \| Routine Home Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	24,058	24,297	22,958
VITAS [Member] \| Commercial [Member] \| Continuous Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	5,971	5,742	5,776
VITAS [Member] \| Commercial [Member] \| Inpatient Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	5,051	6,066	5,167
VITAS [Member] \| Commercial [Member] \| Care Services Total [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Patient care service revenue	$ 35,080	$ 36,105	$ 33,901

Properties And Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Properties And Equipment [Abstract]

Schedule Of Properties And Equipment


		December 31,
		2020		2019
Land	$	9,385	$	8,360
Buildings and building improvements		117,419		109,404
Transportation equipment		68,379		41,897
Machinery and equipment		129,835		123,102
Computer software		62,138		57,508
Furniture and fixtures		78,507		79,792
Projects under development		15,537		25,840
Total properties and equipment		481,200		445,903
Less accumulated depreciation		(293,380)		(270,140)
Net properties and equipment	$	187,820	$	175,763

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Intangible Assets [Abstract]

Schedule By Year Of Projected Amortization Expense For Definite-Lived Intangible Assets


2021	$	10,041
2022		10,016
2023		9,963
2024		9,916
2025		9,902
Thereafter		11,705

Schedule Of Intangible Assets


		Gross		Accumulated		Net Book
		Asset		Amortization		Value
December 31, 2020
Referral networks	$	21,850	$	(21,294)	$	556
Covenants not to compete		10,076		(9,632)		444
Customer lists		4,746		(1,577)		3,169
Reacquired franchise rights		72,478		(15,104)		57,374
Subtotal - definite-lived intangibles		109,150		(47,607)		61,543
VITAS trade name		51,300		-		51,300
Roto-Rooter trade name		150		-		150
Operating licenses		5,092		-		5,092
Total	$	165,692	$	(47,607)	$	118,085

December 31, 2019
Referral networks	$	21,850	$	(21,223)	$	627
Covenants not to compete		10,036		(9,478)		558
Customer lists		4,746		(1,362)		3,384
Reacquired franchise rights		71,618		(5,557)		66,061
Subtotal - definite-lived intangibles		108,250		(37,620)		70,630
VITAS trade name		51,300		-		51,300
Roto-Rooter trade name		150		-		150
Operating licenses		4,290		-		4,290
Total	$	163,990	$	(37,620)	$	126,370

Income Taxes (Schedule Of Income Taxes Paid) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Income taxes paid	$ 61,517	$ 44,063	$ 9,749

Other Operating Expenses/(Income) (Schedule Of Other Operating Expenses/(Income)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Total other operating expenses/(income)	$ (75,095)	$ 9,132	$ 1,300
CARES Act Grant Income [Member]
Total other operating expenses/(income)	(80,225)
Litigation Settlements [Member]
Total other operating expenses/(income)	4,589	6,000	796
Loss On Sale Of Transportation Equipment [Member]
Total other operating expenses/(income)		2,266
Loss On Disposal Of Property And Equipment [Member]
Total other operating expenses/(income)	$ 541	$ 866	$ 504

Capital Stock Transactions (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Mar. 31, 2020
Capital Stock Transactions [Abstract]
Stock repurchase program, amount authorized		$ 250.0
Stock repurchase program, remaining authorized repurchase amount	$ 178.4

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Plans [Abstract]

Schedule Of Expenses For Retirement, Profit-Sharing Plans, Excess Benefit Plans And Other Similar Plans


For the Years Ended December 31,
	2020		2019		2018

$	27,044	$	25,529	$	16,502

Document And Entity Information - USD ($)

12 Months Ended

Dec. 31, 2020

Feb. 12, 2021

Jun. 30, 2020

Document And Entity Information [Abstract]

Document Type

10-K

Document Annual Report

true

Document Fiscal Period Focus

Current Fiscal Year End Date

--12-31

Document Fiscal Year Focus

2020

Document Period End Date

Dec. 31, 2020

Document Transition Report

false

Entity File Number

1-8351

Entity Registrant Name

CHEMED CORPORATION

Entity Incorporation, State or Country Code

Entity Tax Identification Number

31-0791746

Entity Address, Address Line One

Suite 2600

Entity Address, Address Line Two

255 East Fifth Street

Entity Address, City or Town

Cincinnati

Entity Address, State or Province

Entity Address, Postal Zip Code

45202-4726

City Area Code

513

Local Phone Number

762-6690

Title of 12(b) Security

Capital Stock – Par Value $1 Per Share

Trading Symbol

CHE

Security Exchange Name

NYSE

Entity Well-known Seasoned Issuer

Yes

Entity Voluntary Filers

Entity Current Reporting Status

Yes

Entity Interactive Data Current

Yes

Entity Filer Category

Large Accelerated Filer

Entity Small Business

false

Entity Emerging Growth Company

false

ICFR Auditor Attestation Flag

true

Entity Shell Company

false

Entity Public Float

$ 7,056,295,051

Entity Common Stock, Shares Outstanding

16,032,904

Documents Incorporated by Reference

Document

Where Incorporated

2020 Annual Report to Stockholders (specified portions)

Proxy Statement for Annual Meeting to be held May 17, 2021

Parts I, II, and IV

Part III

Amendment Flag

false

Entity Central Index Key

0000019584

Long-Term Debt And Lines of Credit (Tables)

12 Months Ended

Dec. 31, 2020

Long-Term Debt And Lines Of Credit [Abstract]

Debt Outstanding


		December 31,
		2020		2019
Revolver	$	-	$	90,000
Term loan		-		-
Total		-		90,000
Current portion of term loan		-		-
Long-term debt	$	-	$	90,000

Interest Paid During The Years


2020	$	2,028
2019		4,125
2018		4,178

Financial Debt Covenants


		Chemed
Description	Requirement	December 31, 2020


Leverage Ratio (Consolidated Indebtedness/Consolidated Adj. EBITDA)	< 3.50 to 1.00	0.08 to 1.00

Fixed Charge Coverage Ratio (Consolidated Free Cash Flow/Consolidated
Fixed Charges)	> 1.50 to 1.00	5.04 to 1.00

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Name Accounting Standards Codification
-Topic 210
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-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

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+ Details

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

13. Leases

Chemed and each of its operating subsidiaries are service companies. As such, real estate leases comprise the largest lease obligation (and conversely, right of use asset) in our lease portfolio. VITAS has leased office space, as well as space for IPUs and/or contract beds within hospitals. Roto-Rooter has leased office space. Our leases have remaining terms of less than 1 year to 10 years, some of which include options to extend the lease for up to 5 years, and some of which include options to terminate the lease within 1 year.

We made a policy election to exclude leases with a lease term less than 12 month from being recorded on the balance sheet. We adopted the practical expedient related to the combining of lease and non-lease components, which allows us to account for the lease and non-lease components as a single lease component.

We do not currently have any finance leases, all lease information disclosed is related to operating leases.

The components of balance sheet information related to leases were as follows:


	December 31,
	2020		2019
Assets
Operating lease assets	$	123,448	$	111,652

Liabilities
Current operating leases		36,200		39,280
Noncurrent operating leases		99,210		86,656
Total operating lease liabilities	$	135,410	$	125,936

The components of lease expense were as follows:


	December 31,
	2020		2019
Lease Expense (a)
Operating lease expense	$	60,195	$	49,112
Sublease income		(83)		(6)
Net lease expense	$	60,112	$	49,106

(a)Includes short-term leases and variable lease costs, which are immaterial. Included in both cost of services provided and goods sold and selling, general and administrative expenses.

The components of cash flow information related to leases were as follows:


	December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from leases	$	49,932	$	41,525

Leased assets obtained in exchange for new operating lease liabilities	$	58,802	$	150,356


Weighted Average Remaining Lease Term
Operating leases	4.98		years

Weighted Average Discount Rate
Operating leases	2.87	%


Maturity of Operating Lease Liabilities (in thousands)

2021	$	43,437
2022		31,059
2023		24,174
2024		18,243
2025		12,175
Thereafter		18,614
Total lease payments	$	147,702
Less: interest		(10,356)
Less: lease obligations signed but not yet commenced		(1,936)
Total liability recognized on the balance sheet	$	135,410

For leases commencing prior to 2019, minimum rental payments exclude payments to landlords for real estate taxes and common area maintenance. Operating lease payments include $2.3 million related to extended lease terms that are reasonably certain of being exercised and exclude $1.9 million lease payments for leases signed but not yet commenced.

Other Income - Net (Schedule Of Other Income - Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income - Net [Abstract]
Market value gains related to deferred compensation trusts	$ 7,933	$ 8,254	$ 287
Interest income	757	513	671
Other expense--net	(25)	(3)
Total other income	$ 8,665	$ 8,764	$ 958

Capital Stock Transactions (Schedule Of Repurchased Capital Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Capital Stock Transactions [Abstract]
Total cost of repurchased shares	$ 175,594	$ 92,631	$ 158,884
Shares repurchased	384,252	269,009	561,146
Weighted average price per share	$ 456.98	$ 344.34	$ 283.14

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents (Note 9)	$ 162,675	$ 6,158
Accounts receivable	126,853	143,827
Inventories	7,095	7,462
Prepaid income taxes	6,603	10,074
Prepaid expenses	26,177	23,150
Total current assets	329,403	190,671
Investments of deferred compensation plans held in trust (Notes 14 and 16)	88,811	77,446
Properties and equipment, at cost, less accumulated depreciation (Note 12)	187,820	175,763
Lease right of use asset (Note 13)	123,448	111,652
Identifiable intangible assets less accumulated amortization (Note 6)	118,085	126,370
Goodwill	578,585	577,367
Other assets	8,759	9,048
Total Assets	1,434,911	1,268,317
Current liabilities
Accounts payable	54,234	51,101
Income taxes	9,464	131
Accrued insurance	54,703	50,328
Accrued compensation	91,282	70,814
Accrued legal	10,632	6,941
Short-term lease liability (Note 13)	36,200	39,280
Other current liabilities	42,593	43,625
Total current liabilities	299,108	262,220
Deferred income taxes (Note 11)	20,664	18,504
Long-term debt (Note 3)		90,000
Deferred compensation liabilities (Note 14)	88,456	76,446
Long-term lease liability (Note 13)	99,210	86,656
Other liabilities	26,273	7,883
Total Liabilities	533,711	541,709
Commitments and contingencies (Note 17)
STOCKHOLDERS' EQUITY
Capital stock - authorized 80,000,000 shares $1 par; issued 36,258,638 shares (2019 - 35,810,528 shares)	36,259	35,811
Paid-in capital	961,404	860,671
Retained earnings	1,723,777	1,425,752
Treasury stock - 20,351,562 shares (2019 - 19,867,220 shares), at cost	(1,822,579)	(1,597,940)
Deferred compensation payable in Company stock (Note 14)	2,339	2,314
Total Stockholders' Equity	901,200	726,608
Total Liabilities and Stockholders' Equity	$ 1,434,911	$ 1,268,317

Consolidated Statements Of Changes In Stockholders Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated Statements Of Changes In Stockholders Equity [Abstract]
Dividends paid per share	$ 1.32	$ 1.24	$ 1.16

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Schedule Of Provision For Income Taxes


		For the Years Ended December 31,
		2020		2019		2018
Current
U.S. federal	$	58,602	$	36,779	$	23,934
U.S. state and local		15,950		7,078		4,484
Foreign		539		600		452
Deferred
U.S. federal, state and local		1,456		(2,773)		5,185
Foreign		(23)		2		1
Total	$	76,524	$	41,686	$	34,056

Schedule Of Temporary Differences That Give Rise To Deferred Tax Assets (Liabilities)


		December 31,
		2020		2019
Accrued liabilities	$	42,151	$	32,498
Lease liabilities		35,888		32,476
Implicit price concessions		7,031		4,165
Stock compensation expense		4,047		5,425
State net operating loss carryforwards		2,030		2,678
Other		888		592
Deferred income tax assets		92,035		77,834
Amortization of intangible assets		(40,619)		(39,377)
Right of use lease assets		(32,788)		(28,807)
Accelerated tax depreciation		(31,686)		(21,942)
Currents assets		(3,921)		(2,510)
Market valuation of investments		(2,382)		(2,058)
State income taxes		(1,161)		(1,477)
Other		(142)		(167)
Deferred income tax liabilities		(112,699)		(96,338)
Net deferred income tax liabilities	$	(20,664)	$	(18,504)

Schedule Of Significant Changes To Unrecognized Tax Benefits


		2020		2019		2018
Balance at January 1,	$	1,323	$	1,348	$	1,123
Unrecognized tax benefits due to positions taken in current year		200		234		453
Decrease due to expiration of statute of limitations		(219)		(259)		(228)
Balance at December 31,	$	1,304	$	1,323	$	1,348

Schedule Of Difference Between Actual Income Tax Provision For Continuing Operations And Income Tax Provision Calculated At Statutory U.S. Federal Tax Rate


		For the Years Ended December 31,
		2020			2019			2018

Income tax provision calculated using the statutory rate of 21%	$	83,158		$	54,938		$	50,316
Excess stock compensation tax benefits		(26,089)			(24,177)			(22,862)
State and local income taxes, less federal income tax effect		13,855			7,880			7,150
Nondeductible expenses		5,377			3,048			2,280
Other--net		223			(3)			(2,828)
Income tax provision	$	76,524		$	41,686		$	34,056
Effective tax rate		19.3	%		15.9	%		14.2	%

Schedule Of Income Taxes Paid


2020	$	61,517
2019		44,063
2018		9,749

Capital Stock Transactions

12 Months Ended

Dec. 31, 2020

Capital Stock Transactions [Abstract]

Capital Stock Transactions

18. Capital Stock Transactions

We repurchased the following capital stock:


		For the Years Ended December 31,
		2020		2019		2018
Total cost of repurchased shares (in thousands):	$	175,594	$	92,631	$	158,884
Shares repurchased		384,252		269,009		561,146
Weighted average price per share	$	456.98	$	344.34	$	283.14

In March 2020, the Board of Directors authorized an additional $250.0 million for stock repurchase under the February 2011 repurchase program. We currently have $178.4 million of authorization remaining under this share purchase plan.

Segments And Nature Of The Business (Tables)

12 Months Ended

Dec. 31, 2020

Segments And Nature Of The Business [Abstract]

Segment Data


		For the Years Ended December 31,
		2020		2019		2018
After-tax Segment Earnings/(Loss)
VITAS	$	238,782	$	155,822	$	138,846
Roto-Rooter		120,394		103,710		98,711
Total		359,176		259,532		237,557
Corporate		(39,710)		(39,609)		(32,013)
Net income	$	319,466	$	219,923	$	205,544
Interest Income
VITAS	$	20,565	$	18,515	$	13,412
Roto-Rooter		6,332		8,285		7,000
Total		26,897		26,800		20,412
Corporate		13		-		-
Intercompany eliminations		(26,153)		(26,287)		(19,741)
Total interest income	$	757	$	513	$	671
Interest Expense
VITAS	$	166	$	169	$	175
Roto-Rooter		340		345		319
Total		506		514		494
Corporate		1,849		4,021		4,496
Total interest expense	$	2,355	$	4,535	$	4,990
Income Tax Provision
VITAS	$	76,473	$	48,711	$	40,847
Roto-Rooter		37,038		30,276		28,850
Total		113,511		78,987		69,697
Corporate		(36,987)		(37,301)		(35,641)
Total income tax provision	$	76,524	$	41,686	$	34,056
Identifiable Assets
VITAS	$	672,246	$	663,455	$	553,949
Roto-Rooter		499,101		507,480		351,030
Total		1,171,347		1,170,935		904,979
Corporate		263,564		97,382		70,550
Total identifiable assets	$	1,434,911	$	1,268,317	$	975,529
Additions to Long-Lived Assets
VITAS	$	28,865	$	25,530	$	36,969
Roto-Rooter		27,682		162,494		68,786
Total		56,547		188,024		105,755
Corporate		5,246		1,000		128
Total additions to long-lived assets	$	61,793	$	189,024	$	105,883
Depreciation and Amortization
VITAS	$	22,239	$	20,055	$	19,700
Roto-Rooter		34,208		24,994		19,016
Total		56,447		45,049		38,716
Corporate		136		156		147
Total depreciation and amortization	$	56,583	$	45,205	$	38,863

Other Income - Net

12 Months Ended

Dec. 31, 2020

Other Income - Net [Abstract]

Other Income - Net

10. Other Income -- Net

Other income -- net comprises the following (in thousands):


		For the Years Ended December 31,
		2020		2019		2018

Market value gains related to deferred
compensation trusts	$	7,933	$	8,254	$	287
Interest income		757		513		671
Other expense--net		(25)		(3)		-
Total other income	$	8,665	$	8,764	$	958

The market value gain relates to gains on the assets in the deferred compensation trust. There is an offsetting expense in selling, general and administrative expense to reflect the corresponding increase in the liability.

Other Operating Expenses/(Income)

12 Months Ended

Dec. 31, 2020

Other Operating Expenses/(Income) [Abstract]

Other Operating Expenses/(Income)

‎

19. Other Operating Expenses/(Income)


		December 31,
		2020		2019		2018
CARES Act grant income	$	(80,225)	$	-	$	-
Litigation settlements		4,589		6,000		796
Loss on disposal of property and equipment		541		866		504
Loss on sale of transportation equipment		-		2,266		-
Total other operating expenses	$	(75,095)	$	9,132	$	1,300

See Note 1 for further discussion of the accounting for the CARES Act grant income.

Cash Overdrafts And Cash Equivalents

12 Months Ended

Dec. 31, 2020

Cash Overdrafts And Cash Equivalents [Abstract]

Cash Overdrafts And Cash Equivalents

9. Cash Overdrafts and Cash Equivalents

Included in the accompanying Consolidated Balance Sheets are $3.9 million, $1.8 million, and $3.2 million of capitalized property and equipment which were not paid for as of December 31, 2020, December 31, 2019 and December 31, 2018, respectively. These amounts have been excluded from capital expenditures in the accompanying Consolidated Statements of Cash Flow. There are no material non-cash amounts included in interest expense for any period presented.

There are no cash overdrafts included in accounts payable as of December 31, 2020. Included in accounts payable are cash overdrafts of $9.8 million as of December 31, 2019.

From time to time throughout the year, we invest excess cash in money market funds directly with major commercial banks. We closely monitor the creditworthiness of the institutions with which we invest our overnight funds. The amount invested was less than $100,000 for each balance sheet date presented.

Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share[Abstract]

Earnings Per Share

15. Earnings Per Share

The computation of earnings per share follows (in thousands, except per share data):


		Net Income
For the Years Ended December 31,		Net Income		Shares	Earnings per Share
2020
	Earnings	$	319,466	15,955	$	20.02
	Dilutive stock options		-	368
	Nonvested stock awards		-	75
	Diluted earnings	$	319,466	16,398	$	19.48

2019
	Earnings	$	219,923	15,969	$	13.77
	Dilutive stock options		-	480
	Nonvested stock awards		-	78
	Diluted earnings	$	219,923	16,527	$	13.31

2018
	Earnings	$	205,544	16,059	$	12.80
	Dilutive stock options		-	650
	Nonvested stock awards		-	94
	Diluted earnings	$	205,544	16,803	$	12.23

During 2020, 566,000 stock options were excluded from the computation of diluted earnings per share as their exercise prices were greater than the average market price during most of the year. During 2019, 287,000 stock options were also excluded. During 2018, 246,000 stock options were also excluded.

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Consolidated Balance Sheets [Abstract]
Capital stock - authorized	80,000,000	80,000,000
Capital stock - par value	$ 1	$ 1
Capital stock - issued	36,258,638	35,810,528
Treasury stock	20,351,562	19,867,220

Long-Term Debt And Lines Of Credit (Interest Paid During The Years) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-Term Debt And Lines Of Credit [Abstract]
Interest paid	$ 2,028	$ 4,125	$ 4,178

Discontinued Operations (Schedule Of Estimated Timing Of Payments Of Liabilities) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Discontinued Operations [Abstract]
2021	$ 826
2022	300
Thereafter	601
Estimated payments of liabilities related to discontinued operations	$ 1,727

Acquisitions (Schedule Of Business Acquisitions) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 578,585	$ 577,367	$ 510,570
HSW RR, Inc [Member]
Business Acquisition [Line Items]
Goodwill	56,191
Property, plant, and equipment	5,998
Working capital	3,760
Other assets and liabilities - net	128
Purchase price	121,417
Roto-Rooter, Oakland [Member]
Business Acquisition [Line Items]
Goodwill	10,535
Property, plant, and equipment	675
Working capital	22
Other assets and liabilities - net	23
Purchase price	18,045
HSW And Oakland [Member]
Business Acquisition [Line Items]
Goodwill	66,726
Property, plant, and equipment	6,673
Working capital	3,782
Other assets and liabilities - net	151
Purchase price	139,462
Reacquired Franchise Rights [Member] \| HSW RR, Inc [Member]
Business Acquisition [Line Items]
Finite-lived intangibles	52,980
Reacquired Franchise Rights [Member] \| Roto-Rooter, Oakland [Member]
Business Acquisition [Line Items]
Finite-lived intangibles	6,190
Reacquired Franchise Rights [Member] \| HSW And Oakland [Member]
Business Acquisition [Line Items]
Finite-lived intangibles	59,170
Customer Relationships [Member] \| HSW RR, Inc [Member]
Business Acquisition [Line Items]
Finite-lived intangibles	2,220
Customer Relationships [Member] \| Roto-Rooter, Oakland [Member]
Business Acquisition [Line Items]
Finite-lived intangibles	500
Customer Relationships [Member] \| HSW And Oakland [Member]
Business Acquisition [Line Items]
Finite-lived intangibles	2,720
Non-Compete Agreements [Member] \| HSW RR, Inc [Member]
Business Acquisition [Line Items]
Finite-lived intangibles	140
Non-Compete Agreements [Member] \| Roto-Rooter, Oakland [Member]
Business Acquisition [Line Items]
Finite-lived intangibles	100
Non-Compete Agreements [Member] \| HSW And Oakland [Member]
Business Acquisition [Line Items]
Finite-lived intangibles	$ 240

Properties And Equipment

12 Months Ended

Dec. 31, 2020

Properties And Equipment [Abstract]

Properties And Equipment

12. Properties and Equipment

A summary of properties and equipment follows (in thousands):


		December 31,
		2020		2019
Land	$	9,385	$	8,360
Buildings and building improvements		117,419		109,404
Transportation equipment		68,379		41,897
Machinery and equipment		129,835		123,102
Computer software		62,138		57,508
Furniture and fixtures		78,507		79,792
Projects under development		15,537		25,840
Total properties and equipment		481,200		445,903
Less accumulated depreciation		(293,380)		(270,140)
Net properties and equipment	$	187,820	$	175,763

The net book value of computer software at December 31, 2020 and 2019, was $8.9 million and $9.6 million, respectively. Depreciation expense for computer software was $5.5 million, $4.6 million and $5.4 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Stock-Based Compensation Plans (Narrative) (Details)	1 Months Ended				12 Months Ended
Stock-Based Compensation Plans (Narrative) (Details)	May 31, 2020 shares	Feb. 29, 2020	Feb. 28, 2019	Feb. 28, 2018	Dec. 31, 2020 item shares	Dec. 31, 2019 shares	Dec. 31, 2018 shares	Mar. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans \| item					3
Number of shares authorized					5,100,000
Options granted					298,670	287,010	246,350
Perfromance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period, years		3 years	3 years	3 years
Perfromance Stock Units [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage participant can ultimately receive of the targeted PSUs					200.00%
Perfromance Stock Units [Member] \| Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested share units that will be converted								26,525
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period, years					3 years
Shares contractual life					5 years
Options granted					298,670
Stock Options [Member] \| Prior to Year 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares contractual life					10 years
Outside Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted	2,511

Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2020

Summary Of Significant Accounting Policies [Abstract]

Nature Of Operations

NATURE OF OPERATIONS

Principles Of Accounting

PRINCIPLES OF ACCOUNTING

Current Expected Credit Losses

CURRENT EXPECTED CREDIT LOSSES


				ADDITIONS
				(CHARGED)
				CREDITED		(CHARGED)
				TO COSTS		CREDITED
		BALANCE AT		AND		TO OTHER						BALANCE AT
DESCRIPTION		1/1/2020		EXPENSES		ACCOUNTS		DEDUCTIONS		OTHER		12/31/2020

December 31, 2020	$	(353)	$	(657)	$	(475)	$	488	$	(25)	$	(1,022)

Coronavirus Aid, Relief And Economic Stimulus (CARES) Act

CORONAVIRUS AID, RELIEF AND ECONOMIC STIMULUS (CARES) ACT

On December 27, 2020, a second COVID-19 relief bill was signed into law. Among other things, this bill extended the suspension of the 2% sequestration cut through March 31, 2021.

The components of the amount recognized are as follows, (in thousands):




Lost revenue	$	44,784
Incremental PTO		21,425
Hard costs		14,016
Other operating income	$	80,225

Cash Equivalents

CASH EQUIVALENTS

Cash equivalents comprise short-term, highly liquid investments, including money market funds that have original maturities of three months or less.

Concentration Of Risk

CONCENTRATION OF RISK

Inventories

INVENTORIES

Depreciation And Properties And Equipment

DEPRECIATION AND PROPERTIES AND EQUIPMENT

The weighted average lives of our property and equipment at December 31, 2020, were:


Buildings and building improvements	14.9	yrs.
Transportation equipment	9.6
Machinery and equipment	5.0
Computer software	4.1
Furniture and fixtures	4.6

Goodwill And Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

The table below shows a rollforward of Goodwill (in thousands):


			Roto-
	Vitas		Rooter		Total
Balance at December 31, 2018	$	333,331	$	177,239	$	510,570
Business combinations		-		66,726		66,726
Foreign currency adjustments		-		71		71
Balance at December 31, 2019	$	333,331	$	244,036	$	577,367
Business combinations		-		1,193		1,193
Foreign currency adjustments		-		25		25
Balance at December 31, 2020	$	333,331	$	245,254	$	578,585


Covenants not to compete	6.5	yrs.
Reacquired franchise rights	7.4
Referral networks	10.0
Customer lists	16.8

LONG-LIVED ASSETS

LEASE ACCOUNTING

CLOUD COMPUTING

OTHER ASSETS

SALES TAX

OPERATING EXPENSES

ADVERTISING

Other Current Liabilities

OTHER CURRENT LIABILITIES

Stock-Based Compensation Plans

STOCK-BASED COMPENSATION PLANS

Stock-based compensation cost is measured at the grant date, based on the fair value of the award and recognized as expense over the employee’s requisite service period on a straight-line basis.

Non-Employee Stock Compensation

NON-EMPLOYEE STOCK COMPENSATION

Insurance Accruals

INSURANCE ACCRUALS

Income Taxes

INCOME TAXES

Contingencies

CONTINGENCIES

Business Combinations

BUSINESS COMBINATIONS

Estimates

ESTIMATES

Revenue Recognition

12 Months Ended

Dec. 31, 2020

Revenue Recognition [Abstract]

Revenue Recognition

2. Revenue Recognition

In May 2014, the FASB issued Accounting Standards Update “ASU No. 2014-09 – Revenue from Contracts with Customers.” The standard and subsequent amendments are theoretically intended to develop a common revenue standard for removing inconsistencies and weaknesses, improve comparability, provide for more useful information to users through improved disclosure requirements and simplify the preparation of financial statements. The standard is also referred to as Accounting Standards Codification No. 606 (“ASC 606”). We adopted ASC 606 effective January 1, 2018. The required disclosures of ASC 606 and impact of adoption are discussed below for each of our operating subsidiaries.

VITAS

Service revenue for VITAS is reported at the amount that reflects the ultimate consideration we expect to receive in exchange for providing patient care. These amounts are due from third-party payors, primarily commercial health insurers and government programs (Medicare and Medicaid), and includes variable consideration for revenue adjustments due to settlements of audits and reviews, as well as certain hospice-specific revenue capitations. Amounts are generally billed monthly or subsequent to patient discharge. Subsequent changes in the transaction price initially recognized are not significant.

Hospice services are provided on a daily basis and the type of service provided is determined based on a physician’s determination of each patient’s specific needs on that given day. Reimbursement rates for hospice services are on a per diem basis regardless of the type of service provided or the payor. Reimbursement rates from government programs are established by the appropriate governmental agency and are standard across all hospice providers. Reimbursement rates from health insurers are negotiated with each payor and generally structured to closely mirror the Medicare reimbursement model. The types of hospice services provided and associated reimbursement model for each are as follows:

Routine Home Care occurs when a patient receives hospice care in their home, including a nursing home setting. The routine home care rate is paid for each day that a patient is in a hospice program and is not receiving one of the other categories of hospice care. For Medicare patients, the routine home care rate reflects a two-tiered rate, with a higher rate for the first 60 days of a hospice patient’s care and a lower rate for days 61 and after. In addition, there is a Service Intensity Add-on payment which covers direct home care visits conducted by a registered nurse or social worker in the last seven days of a hospice patient’s life, reimbursed up to 4 hours per day in 15 minute increments at the continuous home care rate.

General Inpatient Care occurs when a patient requires services in a controlled setting for a short period of time for pain control or symptom management which cannot be managed in other settings. General inpatient care services must be provided in a Medicare or Medicaid certified hospital or long-term care facility or at a freestanding inpatient hospice facility with the required registered nurse staffing.

Continuous Home Care is provided to patients while at home, including a nursing home setting, during periods of crisis when intensive monitoring and care, primarily nursing care, is required in order to achieve palliation or management of acute medical symptoms. Continuous home care requires a minimum of 8 hours of care within a 24 hour day, which begins at midnight. The care must be predominantly nursing care provided by either a registered nurse or licensed nurse practitioner. While the published Medicare continuous home care rates are daily rates, Medicare pays for continuous home care in 15 minute increments. This 15 minute rate is calculated by dividing the daily rate by 96.

Respite Care permits a hospice patient to receive services on an inpatient basis for a short period of time in order to provide relief for the patient’s family or other caregivers from the demands of caring for the patient. A hospice can receive payment for respite care for a given patient for up to five consecutive days at a time, after which respite care is reimbursed at the routine home care rate.

Each level of care represents a separate promise under the contract of care and is provided independently for each patient contingent upon the patient’s specific medical needs as determined by a physician. However, the clinical criteria used to determine a patient’s level of care is consistent across all patients, given that, each patient is subject to the same payor rules and regulations. As a result, we have concluded that each level of care is capable of being distinct and is distinct in the context of the contract. Furthermore, we have determined that each level of care represents a stand ready service provided as a series of either days or hours of patient care. We believe that the performance obligations for each level of care meet criteria to be satisfied over time. VITAS recognizes revenue based on the service output. VITAS believes this to be the most faithful depiction of the transfer of control of services as the patient simultaneously receives and consumes the benefits provided by our performance. Revenue is recognized on a daily or hourly basis for each patient in accordance with the reimbursement model for each type of service. VITAS’ performance obligations relate to contracts with an expected duration of less than one year. Therefore, VITAS has elected to apply the optional exception provided in ASC 606 and is not required to disclose the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. The unsatisfied or partially satisfied performance obligations referred to above relate to bereavement services provided to patients’ families for at least 12 months after discharge.

Care is provided to patients regardless of their ability to pay. Patients who meet our criteria for charity care are provided care without charge. There is no revenue or associated accounts receivable in the accompanying consolidated financial statements related to charity care. The cost of providing charity care during the years ended December 31, 2020, 2019 and 2018, was $8.1 million, $9.0 million and $8.2 million, respectively and is included in cost of services provided and goods sold. The cost of charity care is calculated by taking the ratio of charity care days to total days of care and multiplying by total cost of care.

Generally, patients who are covered by third-party payors are responsible for related deductibles and coinsurance which vary in amount. VITAS also provides service to patients without a reimbursement source and may offer those patients discounts from standard charges. VITAS estimates the transaction price for patients with deductibles and coinsurance, along with those uninsured patients, based on historical experience and current conditions. The estimate of any contractual adjustments, discounts or implicit price concessions reduces the amount of revenue initially recognized. Subsequent changes to the estimate of the transaction price are recorded as adjustments to patient service revenue in the period of change. Subsequent changes that are determined to be the result of an adverse change in the patients’ ability to pay (i.e. change in credit risk) are recorded as bad debt expense. VITAS has no material adjustments related to subsequent changes in the estimate of the transaction price or subsequent changes as the result of an adverse change in the patient’s ability to pay for any period reported.

Laws and regulations concerning government programs, including Medicare and Medicaid, are complex and subject to varying interpretation. Compliance with such laws and regulations may be subject to future government review and interpretation. Additionally, the contracts we have with commercial health insurance payors provide for retroactive audit and review of claims. Settlement with third party payors for retroactive adjustments due to audits, reviews or investigations are considered variable consideration and are included in the determination of the estimated transaction price for providing patient care. The variable consideration is estimated based on the terms of the payment agreement, existing correspondence from the payor and our historical settlement activity. These estimates are adjusted in future periods, as new information becomes available.

We are subject to certain limitations on Medicare payments for services which are considered variable consideration, as follows:

Inpatient Cap. If the number of inpatient care days any hospice program provides to Medicare beneficiaries exceeds 20% of the total days of hospice care such program provided to all Medicare patients for an annual period beginning September 28, the days in excess of the 20% figure may be reimbursed only at the routine homecare rate. None of VITAS’ hospice programs exceeded the payment limits on inpatient services during the years ended December 31, 2020, 2019 and 2018.

Medicare Cap. We are also subject to a Medicare annual per-beneficiary cap (“Medicare cap”). Compliance with the Medicare cap is measured in one of two ways based on a provider election. The “streamlined” method compares total Medicare payments received under a Medicare provider number with respect to services provided to all Medicare hospice care beneficiaries in the program or programs covered by that Medicare provider number with the product of the per-beneficiary cap amount and the number of Medicare beneficiaries electing hospice care for the first time from that hospice program or programs from September 28 through September 27 of the following year. At December 31, 2020, all our programs except one are using the “streamlined” method.

The “proportional” method compares the total Medicare payments received under a Medicare provider number with respect to services provided to all Medicare hospice care beneficiaries in the program or programs covered by the Medicare provider number between September 28 and September 27 of the following year with the product of the per beneficiary cap amount and a pro-rated number of Medicare beneficiaries receiving hospice services from that program during the same period. The pro-rated number of Medicare beneficiaries is calculated based on the ratio of days the beneficiary received hospice services during the measurement period to the total number of days the beneficiary received hospice services.

We actively monitor each of our hospice programs, by provider number, as to their specific admission, discharge rate and median length of stay data in an attempt to determine whether revenues are likely to exceed the annual per-beneficiary Medicare cap. Should we determine that revenues for a program are likely to exceed the Medicare cap based on projected trends, we attempt to institute corrective actions, which include changes to the patient mix and increased patient admissions. However, should we project our corrective action will not prevent that program from exceeding its Medicare cap, we estimate revenue recognized during the government fiscal year that will require repayment to the Federal government under the Medicare cap and record an adjustment to revenue of an amount equal to a ratable portion of our best estimate for the year.

In 2013, the U.S. government implemented automatic budget reductions of 2.0% for all government payees, including hospice benefits paid under the Medicare program. In 2015, CMS determined that the Medicare cap should be calculated “as if” sequestration did not occur. As a result of this decision, VITAS has received notification from our third-party intermediary that an additional $8.7 million is owed for Medicare cap in three programs arising during the 2013 through 2020 measurement periods. The amounts are automatically deducted from our semi-monthly periodic interim payments (“PIP”). We do not believe that CMS is authorized under the sequestration authority or the statutory methodology for establishing the Medicare cap to the amounts they have withheld and intend to withhold under their current “as if” methodology. We have appealed CMS’s methodology change.

During the year ended December 31, 2020 we recorded $6.7 million in Medicare cap revenue reduction related to four programs’ projected 2020 measurement period liability.

During the year ended December 31, 2019, we recorded $12.4 million in Medicare cap revenue reduction related to four programs’ projected 2020 measurement period liability and four programs’ 2019 measurement period liability.

During the year ended December 31, 2018, we recorded $4.1 million in Medicare cap revenue reduction related to two programs’ 2018 measurement period liability and two programs’ 2019 measurement period liability.

At December 31, 2020 and 2019, the Medicare cap liability included in other current liabilities on the accompanying balance sheets was $15.1 million and $16.3 million, respectively.

For VITAS’ patients in the nursing home setting in which Medicaid pays the nursing home room and board, VITAS serves as a pass-through between Medicaid and the nursing home. We are responsible for paying the nursing home for that patient’s room and

board. Medicaid reimburses us for 95% of the amount we have paid. This results in a 5% net expense for VITAS related to nursing home room and board. This transaction creates a performance obligation in that VITAS is facilitating room and board being delivered to our patient. As a result, the 5% net expense is recognized as a contra-revenue account under ASC 606 in the accompanying financial statements.

The composition of patient care service revenue by payor and level of care for the year ended December 31, 2020 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	1,033,487	$	48,813	$	24,058	$	1,106,358
Continuous care		123,696		6,344		5,971		136,011
Inpatient care		100,259		9,646		5,051		114,956
	$	1,257,442	$	64,803	$	35,080	$	1,357,325

All other revenue - self-pay, respite care, etc.								11,164
Subtotal							$	1,368,489
Medicare cap adjustment								(6,678)
Implicit price concessions								(14,970)
Room and board, net								(12,174)
Net revenue							$	1,334,667

The composition of patient care service revenue by payor and level of care for the year ended December 31, 2019 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	1,003,308	$	48,420	$	24,297	$	1,076,025
Continuous care		121,019		6,712		5,742		133,473
Inpatient care		84,752		9,102		6,066		99,920
	$	1,209,079	$	64,234	$	36,105	$	1,309,418

All other revenue - self-pay, respite care, etc.								10,433
Subtotal							$	1,319,851
Medicare cap adjustment								(12,415)
Implicit price concessions								(14,893)
Room and board, net								(11,359)
Net revenue							$	1,281,184

The composition of patient care service revenue by payor and level of care for the year ended December 31, 2018 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	939,951	$	47,609	$	22,958	$	1,010,518
Continuous care		110,596		6,126		5,776		122,498
Inpatient care		69,354		8,156		5,167		82,677
	$	1,119,901	$	61,891	$	33,901	$	1,215,693

All other revenue - self-pay, respite care, etc.								7,831
Subtotal							$	1,223,524
Medicare cap adjustment								(4,123)
Implicit price concessions								(11,785)
Room and board, net								(10,054)
Net revenue							$	1,197,562

Roto-Rooter

Roto-Rooter provides plumbing, drain cleaning, water restoration and other related services to both residential and commercial customers primarily in the United States. Services are provided through a network of company-owned branches, independent contractors and franchisees. Service revenue for Roto-Rooter is reported at the amount that reflects the ultimate consideration we expect to receive in exchange for providing services.

Roto-Rooter owns and operates branches focusing mainly on large population centers in the United States. Roto-Rooter’s primary lines of business in company-owned branches consist of plumbing, sewer and drain cleaning, excavation and water restoration. For purposes of ASC 606 analysis, plumbing, sewer and drain cleaning, and excavation have been combined into one portfolio and are referred to as “short-term core services”. Water restoration is analyzed as a separate portfolio. The following describes the key characteristics of these portfolios:

Short-term Core Services are plumbing, drain and sewer cleaning and excavation services. These services are provided to both commercial and residential customers. The duration of services provided in this category range from a few hours to a few days. There are no significant warranty costs or on-going obligations to the customer once a service has been completed. For residential customers, payment is usually received at the time of job completion before the Roto-Rooter technician leaves the residence. Commercial customers may be granted credit subject to internally designated authority limits and credit check guidelines. If credit is granted, payment terms are generally 30 days or less.

Each job in this category is a distinct service with a distinct performance obligation to the customer. Revenue is recognized at the completion of each job. Variable consideration consists of pre-invoice discounts and post-invoice discounts. Pre-invoice discounts are given in the form of coupons or price concessions. Post-invoice discounts consist of credit memos generally granted to resolve customer service issues. Variable consideration is estimated based on historical activity and recorded at the time service is completed.

Water Restoration Services involve the remediation of water and humidity after a flood. These services are provided to both commercial and residential customers. The duration of services provided in this category generally ranges from 3 to 5 days. There are no significant warranties or on-going obligations to the customer once service has been completed. The majority of these services are paid in part by the customer’s insurance company. Variable consideration relates primarily to allowances taken by insurance companies upon payment. Variable consideration is estimated based on historical activity and recorded at the time service is completed.

For both short-term core services and water restoration services, Roto-Rooter satisfies its performance obligation at a point in time. The services provided generally involve fixing plumbing, drainage or flood-related issues at the customer’s property. At the time service is complete, the customer acknowledges its obligation to pay for service and its satisfaction with the service performed. This provides evidence that the customer has accepted the service and Roto-Rooter is now entitled to payment. As such, Roto-Rooter recognizes revenue for these services upon completion of the job and receipt of customer acknowledgement. Roto-Rooter’s performance obligations for short-term core services and water restoration services relate to contracts with an expected duration of less than a year. Therefore, Roto-Rooter has elected to apply the optional exception provided in ASC 606 and is not required to disclose the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. Roto-Rooter does not have significant unsatisfied or partially unsatisfied performance obligations at the time of initial revenue recognition for short-term core or water restoration services.

Roto-Rooter owns the rights to certain territories and contracts with independent third-parties to operate the territory under Roto-Rooter’s registered trademarks. The contract is for a specified term but cancellable by either party without penalty with 90 days advance notice. Under the terms of these arrangements, Roto-Rooter provides certain back office support and advertising along with a limited license to use Roto-Rooter’s registered trademarks. The independent contractor is responsible for all day-to-day management of the business including staffing decisions and pricing of services provided. All performance obligations of Roto-Rooter cease at the termination of the arrangement.

Independent contractors pay Roto-Rooter a standard fee calculated as a percentage of their cash collection from weekly sales. The primary value for the independent contractors under these arrangements is the right to use Roto-Rooter’s registered trademarks. Roto-Rooter recognizes revenue from independent contractors over-time (weekly) as the independent contractor’s labor sales are completed and payment from customers are received. Payment from independent contractors is also received on a weekly basis. The use of Roto-Rooter’s registered trademarks and advertising provides immediate value to the independent contractor as a result of Roto-Rooter’s nationally recognized brand. Therefore, over-time recognition provides the most faithful depiction of the transfer of services as the customer simultaneously receives and consumes the benefits provided. There is no significant variable consideration related to these arrangements.

Roto-Rooter has licensed the rights to operate under Roto-Rooter’s registered trademarks in other territories to franchisees. The contract is for a 10 year term but cancellable by Roto-Rooter for cause with 60 day advance notice without penalty. The franchisee may cancel the contract for any reason with 60 days advance notice without penalty. Under the terms of the contract, Roto-Rooter provides national advertising and consultation on various aspects of operating a Roto-Rooter business along with the right to use Roto-Rooter’s registered trademarks. The franchisee is responsible for all day- to-day management of the business including staffing

decisions, pricing of services provided and local advertising spend and placement. All performance obligations of Roto-Rooter cease at the termination of the arrangement.

Franchisees pay Roto-Rooter a standard monthly fee based on the population within the franchise territory. The standard fee is revised on a yearly basis based on changes in the Consumer Price Index for All Urban Consumers. The primary value for the franchisees under this arrangement is the right to use Roto-Rooter’s registered trademarks for plumbing, drain care cleaning and water restoration services. Roto-Rooter recognizes revenue from franchisees over-time (monthly). Payment from franchisees is also received on a monthly basis. The use of Roto-Rooter’s registered trademarks and advertising provides immediate value to the franchisees as a result of Roto-Rooter’s nationally recognized brand. Therefore, over-time recognition provides the most faithful depiction of the transfer of services as the customer simultaneously receives and consumes the benefits provided. There is no significant variable consideration related to these arrangements.

The composition of disaggregated revenue for the years ended December 31, 2020, 2019 and 2018 is as follows (in thousands):


		2020		2019		2018
Short-term core service jobs	$	552,500	$	482,625	$	425,845
Water restoration		126,378		115,949		109,484
Contractor revenue		64,727		58,086		50,169
Franchise fees		4,893		6,152		6,382
All other		13,537		12,279		11,958
Subtotal	$	762,035	$	675,091	$	603,838
Implicit price concessions and credit memos		(17,119)		(17,720)		(18,752)
Net revenue	$	744,916	$	657,371	$	585,086

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Subparagraph (c)
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+ Details

Stock-Based Compensation Plans

12 Months Ended

Dec. 31, 2020

Stock-Based Compensation Plans [Abstract]

Stock-Based Compensation Plans

4. Stock-Based Compensation Plans

We have three stock incentive plans under which a total of 5.1 million shares were able to be issued to key employees and directors through a grant of stock options, stock awards and/or performance stock units (“PSUs”). The Compensation/Incentive Committee (“CIC”) of the Board of Directors administers these plans.

We grant stock options, stock awards and PSUs to our officers, other key employees and directors to better align their long-term interests with those of our shareholders. We grant stock options at an exercise price equal to the market price of our stock on the date of grant. Options vest ratably annually over a three year period. Those granted after 2014 have a contractual life of 5 years; those granted prior to 2014 have a contractual life of 10 years. Unrestricted stock awards generally are granted to our non-employee directors annually at the time of our annual meeting. PSUs are contingent upon achievement of multi-year earnings per share (“EPS”) targets or total shareholder return (“TSR”) targets. Upon achievement of targets, PSUs are converted to unrestricted shares of stock.

We recognize the cost of stock options, stock awards and PSUs on a straight-line basis over the service life of the award, generally the vesting period. We include the cost of all stock-based compensation in selling, general and administrative expense.

In May 2020, the CIC granted 2,511 unrestricted shares of stock to the Company’s outside directors.

PERFORMANCE AWARDS

The CIC determines a targeted number of PSUs to be granted to each participant. A participant can ultimately receive up to 200% of the targeted PSUs based upon exceeding the respective EPS and TSR target.

In February 2018, 2019 and 2020, the CIC granted PSUs contingent upon the achievement of certain TSR targets as compared to the TSR of a group of peer companies for the three year measurement period, at which date the awards may vest. We utilize a Monte Carlo simulation approach in a risk-neutral framework with inputs including historical volatility and the risk-free rate of interest to value these TSR awards. We amortize the total estimated cost over the service period of the award.

In February 2018, 2019 and 2020, the CIC granted PSUs contingent on the achievement of certain EPS targets over the three year measurement period. At the end of each reporting period, we estimate the number of shares of stock we believe will ultimately vest and record that expense over the service period of the award.

‎

Comparative data for the PSUs include:



		2020 Awards			2019 Awards			2018 Awards
TSR Awards
Shares of stock granted - target		5,156			7,029			7,523
Per-share fair value	$	643.44		$	434.51		$	341.20
Volatility		21.4	%		21.4	%		22.9	%
Risk-free interest rate		1.3	%		2.45	%		2.34	%

EPS Awards
Shares of stock granted - target		5,156			7,029			7,523
Per-share fair value	$	487.90		$	322.40		$	256.29

Common Assumptions
Service period (years)		2.9			2.9			2.9
Three-year measurement period ends December 31,		2022			2021			2020

The following table summarizes total stock option, stock award and PSU activity during 2020:


	Stock Options						Stock Awards			Performance Units (PSUs)
									Weighted
			Weighted Average			Aggregate			Average			Weighted
				Remaining		Intrinsic			Grant-Date	Number of		Average
	Number of		Exercise	Contractual		Value	Number of		Per-Share	Target		Grant-Date
	Options		Price	Life (Years)		(thousands)	Awards		Fair Value	Units		Price
Outstanding at January 1, 2020	1,205,948	$	252.77				-	$	-	42,978	$	288.78
Granted	298,670		471.74				2,511		466.43	22,378		365.12
Exercised/Vested	(419,145)		176.73				(2,511)		466.34	(26,454)		197.02
Canceled/ Forfeited	(15,402)		369.84				-		-	(706)		472.68
Outstanding at December 31, 2020	1,070,071	$	341.99	3.5	$	198,910	-	$	-	38,196	$	396.93

Vested and expected to vest
at December 31, 2020	1,070,071	$	341.99	3.5	$	198,910	-	*$	-	69,106	*$	386.33
Exercisable at December 31, 2020	510,938		246.03	2.7		144,003	n.a.		n.a.	n.a.		n.a.
* Amount includes 26,525 share units which vested and were converted to shares of stock and distributed in the first quarter of 2021.

We estimate the fair value of stock options using the Black-Scholes valuation model. We determine expected term, volatility, and dividend yield and forfeiture rate based on our historical experience. We believe that historical experience is the best indicator of these factors.

Comparative data for stock options, stock awards and PSUs include (in thousands, except per-share amounts):


		Years Ended December 31,
		2020		2019		2018
Total compensation expense of stock-based compensation
plans charged against income	$	26,802	$	21,338	$	19,229
Total income tax benefit recognized in income for stock
based compensation expense charged against income		6,904		5,373		4,788
Total intrinsic value of stock options exercised		125,448		106,793		102,144
Total intrinsic value of stock awards vested during the period		1,171		767		4,003
Per-share weighted average grant-date fair value of
stock awards granted		466.43		331.69		333.75

‎

The assumptions we used to value stock option grants are as follows:


		2020			2019			2018
Stock price on date of issuance	$	471.74		$	413.19		$	306.70
Grant date fair value per share	$	97.56		$	78.06		$	67.16
Number of options granted		298,670			287,010			246,350
Expected term (years)		3.5			4.0			4.0
Risk free rate of return		0.24	%		1.65	%		2.99
Volatility		28.41	%		21.25	%		22.42
Dividend yield		0.3	%		0.3	%		0.4
Forfeiture rate		-			-			-

Other data for stock options, stock awards and PSUs for 2020 include (dollar amounts in thousands):


		Stock		Stock
		Options		Awards		PSUs

Total unrecognized compensation at the end of the year	$	44,851	$	-	$	8,223
Weighted average period over which unrecognized compensation to be recognized (years)		2.3		-		1.7
Actual income tax benefit realized	$	29,543	$	276	$	3,123
Aggregate intrinsic value vested and expected to vest	$	198,910	$	-	$	36,479

EMPLOYEE STOCK PURCHASE PLAN (“ESPP”)

The ESPP allows eligible participants to purchase shares of stock through payroll deductions at current market value. We pay administrative and broker fees associated with the ESPP. Shares of stock purchased for the ESPP are purchased on the open market and credited directly to participants’ accounts. In accordance with the FASB’s guidance, the ESPP is non-compensatory.

Long-Term Debt And Lines of Credit (Financial Debt Covenants) (Details)	12 Months Ended
	Dec. 31, 2020
Minimum [Member]
Debt Instrument [Line Items]
Leverage Ratio (Consolidated Indebtedness/Consolidated Adj. EBITDA), Requirement	1.00
Leverage Ratio (Consolidated Indebtedness Consolidated Adj. EBITDA), Chemed	0.08
Fixed Charge Coverage Ratio (Consolidated Free Cash Flow/Consolidated Fixed Charges), Requirement	1.00
Fixed Charge Coverage Ratio (Consolidated Free Cash Flow/Consolidated Fixed Charges), Chemed	1.00
Maximum [Member]
Debt Instrument [Line Items]
Leverage Ratio (Consolidated Indebtedness/Consolidated Adj. EBITDA), Requirement	3.50
Leverage Ratio (Consolidated Indebtedness Consolidated Adj. EBITDA), Chemed	1.00
Fixed Charge Coverage Ratio (Consolidated Free Cash Flow/Consolidated Fixed Charges), Requirement	1.50
Fixed Charge Coverage Ratio (Consolidated Free Cash Flow/Consolidated Fixed Charges), Chemed	5.04

Retirement Plans (Schedule Of Expenses For Retirement, Profit-Sharing Plans, Excess Benefit Plans And Other Similar Plans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Plans [Abstract]
Expenses for retirement and profit-sharing plans, excess benefit plans and other similar plans	$ 27,044	$ 25,529	$ 16,502

Other Operating Expenses/(Income) (Tables)

12 Months Ended

Dec. 31, 2020

Other Operating Expenses/(Income) [Abstract]

Schedule Of Other Operating Expenses/(Income)


		December 31,
		2020		2019		2018
CARES Act grant income	$	(80,225)	$	-	$	-
Litigation settlements		4,589		6,000		796
Loss on disposal of property and equipment		541		866		504
Loss on sale of transportation equipment		-		2,266		-
Total other operating expenses	$	(75,095)	$	9,132	$	1,300

Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Summary Of Significant Accounting Policies [Abstract]

Schedule Of Allowance For Doubtful Accounts


				ADDITIONS
				(CHARGED)
				CREDITED		(CHARGED)
				TO COSTS		CREDITED
		BALANCE AT		AND		TO OTHER						BALANCE AT
DESCRIPTION		1/1/2020		EXPENSES		ACCOUNTS		DEDUCTIONS		OTHER		12/31/2020

December 31, 2020	$	(353)	$	(657)	$	(475)	$	488	$	(25)	$	(1,022)

Schedule Of Other Operating Income




Lost revenue	$	44,784
Incremental PTO		21,425
Hard costs		14,016
Other operating income	$	80,225

Schedule Of Weighted Average Lives Of Property And Equipment


Buildings and building improvements	14.9	yrs.
Transportation equipment	9.6
Machinery and equipment	5.0
Computer software	4.1
Furniture and fixtures	4.6

Schedule Of Movement In Goodwill


			Roto-
	Vitas		Rooter		Total
Balance at December 31, 2018	$	333,331	$	177,239	$	510,570
Business combinations		-		66,726		66,726
Foreign currency adjustments		-		71		71
Balance at December 31, 2019	$	333,331	$	244,036	$	577,367
Business combinations		-		1,193		1,193
Foreign currency adjustments		-		25		25
Balance at December 31, 2020	$	333,331	$	245,254	$	578,585

Weighted Average Lives Of Identifiable, Definite-Lived Intangible Assets


Covenants not to compete	6.5	yrs.
Reacquired franchise rights	7.4
Referral networks	10.0
Customer lists	16.8

Long-Term Debt And Lines of Credit (Debt Outstanding) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Total	$ 90,000
Long-term debt	90,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total	$ 90,000

Recent Accounting Standards

12 Months Ended

Dec. 31, 2020

Recent Accounting Standards [Abstract]

Recent Accounting Standards

20. Recent Accounting Standards

In March 2020, the FASB issued Accounting Standards Update “ASU No. 2020-04 - Reference Rate Reform”. The update provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another rate expected to be discontinued. The update is effective for all entities as of March 12, 2020 and will apply through December 31, 2022. The interest rate charged on borrowings from our existing revolver is based on LIBOR. The credit agreement includes provisions for modifying the interest rate in the instance that LIBOR is discontinued. As a result, no contract modifications will be required when LIBOR is discontinued.

In December 2019, the FASB issued Accounting Standards Update “ASU No. 2019-12 – Simplifying the Accounting for Income Taxes”. The ASU adds new guidance to simplify accounting for income taxes, changes the accounting for certain income tax transactions and makes minor improvements to the codifications. The ASU is effective for the Company on January 1, 2021. There are no material impacts expected from adoption of this ASU.

‎

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
-Paragraph 8
-Subparagraph (e)(3)

+ Details

Financial Instruments (Carrying Value, Fair Value And Hierarchy Of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments of deferred compensation plans held in trust	$ 88,811	$ 77,446
Long-term debt and current portion of long-term debt		90,000
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments of deferred compensation plans held in trust	$ 88,811	77,446
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt and current portion of long-term debt		$ 90,000

Consolidated Statements Of Changes In Stockholders Equity - USD ($) $ in Thousands	Capital Stock [Member]	Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock-At Cost [Member]	Deferred Compensation Payable In Company Stock [Member]	Total
Balance at Dec. 31, 2017	$ 34,732	$ 695,797	$ 1,038,955	$ (1,231,332)	$ 2,202	$ 540,354
Net income			205,544			205,544
Dividends paid			(18,662)			(18,662)
Stock awards and exercise of stock options (Note 4)	579	79,452		(55,939)		24,092
Purchases of treasury stock (Note 18)				(158,884)		(158,884)
Other		(891)	(220)	(141)	142	(1,110)
Balance at Dec. 31, 2018	35,311	774,358	1,225,617	(1,446,296)	2,344	591,334
Net income			219,923			219,923
Dividends paid			(19,788)			(19,788)
Stock awards and exercise of stock options (Note 4)	500	85,788		(59,043)		27,245
Purchases of treasury stock (Note 18)				(92,631)		(92,631)
Other		525		30	(30)	525
Balance at Dec. 31, 2019	35,811	860,671	1,425,752	(1,597,940)	2,314	726,608
Net income			319,466			319,466
Dividends paid			(21,079)			(21,079)
Stock awards and exercise of stock options (Note 4)	448	100,427		(49,020)		51,855
Purchases of treasury stock (Note 18)				(175,594)		(175,594)
Other		306	(362)	(25)	25	(56)
Balance at Dec. 31, 2020	$ 36,259	$ 961,404	$ 1,723,777	$ (1,822,579)	$ 2,339	$ 901,200

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Components Of Balance Sheet Information Related To Leases


	December 31,
	2020		2019
Assets
Operating lease assets	$	123,448	$	111,652

Liabilities
Current operating leases		36,200		39,280
Noncurrent operating leases		99,210		86,656
Total operating lease liabilities	$	135,410	$	125,936

Components Of Lease Expense


	December 31,
	2020		2019
Lease Expense (a)
Operating lease expense	$	60,195	$	49,112
Sublease income		(83)		(6)
Net lease expense	$	60,112	$	49,106

(a)Includes short-term leases and variable lease costs, which are immaterial. Included in both cost of services provided and goods sold and selling, general and administrative expenses.

Components Of Cash Flow Information Related To Leases


	December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from leases	$	49,932	$	41,525

Leased assets obtained in exchange for new operating lease liabilities	$	58,802	$	150,356


Weighted Average Remaining Lease Term
Operating leases	4.98		years

Weighted Average Discount Rate
Operating leases	2.87	%

Summary Of Maturity Of Operating Lease Liabilities


Maturity of Operating Lease Liabilities (in thousands)

2021	$	43,437
2022		31,059
2023		24,174
2024		18,243
2025		12,175
Thereafter		18,614
Total lease payments	$	147,702
Less: interest		(10,356)
Less: lease obligations signed but not yet commenced		(1,936)
Total liability recognized on the balance sheet	$	135,410

Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2020

Stock-Based Compensation Plans [Abstract]

Schedule Of Comparative Date For Performance Stock Units



		2020 Awards			2019 Awards			2018 Awards
TSR Awards
Shares of stock granted - target		5,156			7,029			7,523
Per-share fair value	$	643.44		$	434.51		$	341.20
Volatility		21.4	%		21.4	%		22.9	%
Risk-free interest rate		1.3	%		2.45	%		2.34	%

EPS Awards
Shares of stock granted - target		5,156			7,029			7,523
Per-share fair value	$	487.90		$	322.40		$	256.29

Common Assumptions
Service period (years)		2.9			2.9			2.9
Three-year measurement period ends December 31,		2022			2021			2020

Schedule Of Total Stock Option, Stock Award And PSU Activity


	Stock Options						Stock Awards			Performance Units (PSUs)
									Weighted
			Weighted Average			Aggregate			Average			Weighted
				Remaining		Intrinsic			Grant-Date	Number of		Average
	Number of		Exercise	Contractual		Value	Number of		Per-Share	Target		Grant-Date
	Options		Price	Life (Years)		(thousands)	Awards		Fair Value	Units		Price
Outstanding at January 1, 2020	1,205,948	$	252.77				-	$	-	42,978	$	288.78
Granted	298,670		471.74				2,511		466.43	22,378		365.12
Exercised/Vested	(419,145)		176.73				(2,511)		466.34	(26,454)		197.02
Canceled/ Forfeited	(15,402)		369.84				-		-	(706)		472.68
Outstanding at December 31, 2020	1,070,071	$	341.99	3.5	$	198,910	-	$	-	38,196	$	396.93

Vested and expected to vest
at December 31, 2020	1,070,071	$	341.99	3.5	$	198,910	-	*$	-	69,106	*$	386.33
Exercisable at December 31, 2020	510,938		246.03	2.7		144,003	n.a.		n.a.	n.a.		n.a.
* Amount includes 26,525 share units which vested and were converted to shares of stock and distributed in the first quarter of 2021.

Schedule Of Comparative Data For Stocks Option, Stock Awards And PSUs


		Years Ended December 31,
		2020		2019		2018
Total compensation expense of stock-based compensation
plans charged against income	$	26,802	$	21,338	$	19,229
Total income tax benefit recognized in income for stock
based compensation expense charged against income		6,904		5,373		4,788
Total intrinsic value of stock options exercised		125,448		106,793		102,144
Total intrinsic value of stock awards vested during the period		1,171		767		4,003
Per-share weighted average grant-date fair value of
stock awards granted		466.43		331.69		333.75

Schedule Of Valuation Assumptions


		2020			2019			2018
Stock price on date of issuance	$	471.74		$	413.19		$	306.70
Grant date fair value per share	$	97.56		$	78.06		$	67.16
Number of options granted		298,670			287,010			246,350
Expected term (years)		3.5			4.0			4.0
Risk free rate of return		0.24	%		1.65	%		2.99
Volatility		28.41	%		21.25	%		22.42
Dividend yield		0.3	%		0.3	%		0.4
Forfeiture rate		-			-			-

Schedule Of Other Data For Stock Options, Stock Awards And PSUs


		Stock		Stock
		Options		Awards		PSUs

Total unrecognized compensation at the end of the year	$	44,851	$	-	$	8,223
Weighted average period over which unrecognized compensation to be recognized (years)		2.3		-		1.7
Actual income tax benefit realized	$	29,543	$	276	$	3,123
Aggregate intrinsic value vested and expected to vest	$	198,910	$	-	$	36,479

Properties And Equipment (Schedule Of Properties And Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total properties and equipment	$ 481,200	$ 445,903
Less accumulated depreciation	(293,380)	(270,140)
Net properties and equipment	187,820	175,763
Land [Member]
Property, Plant and Equipment [Line Items]
Total properties and equipment	9,385	8,360
Buildings and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Total properties and equipment	117,419	109,404
Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Total properties and equipment	68,379	41,897
Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Total properties and equipment	129,835	123,102
Computer Software [Member]
Property, Plant and Equipment [Line Items]
Total properties and equipment	62,138	57,508
Furniture And Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total properties and equipment	78,507	79,792
Projects Under Development [Member]
Property, Plant and Equipment [Line Items]
Total properties and equipment	$ 15,537	$ 25,840

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share[Abstract]

Schedule Of Computation Of Earnings Per Share


		Net Income
For the Years Ended December 31,		Net Income		Shares	Earnings per Share
2020
	Earnings	$	319,466	15,955	$	20.02
	Dilutive stock options		-	368
	Nonvested stock awards		-	75
	Diluted earnings	$	319,466	16,398	$	19.48

2019
	Earnings	$	219,923	15,969	$	13.77
	Dilutive stock options		-	480
	Nonvested stock awards		-	78
	Diluted earnings	$	219,923	16,527	$	13.31

2018
	Earnings	$	205,544	16,059	$	12.80
	Dilutive stock options		-	650
	Nonvested stock awards		-	94
	Diluted earnings	$	205,544	16,803	$	12.23

Income Taxes (Schedule Of Provision For Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Current, U.S. federal	$ 58,602	$ 36,779	$ 23,934
Current, U.S. state and local	15,950	7,078	4,484
Current, Foreign	539	600	452
Deferred, U.S. federal, state and local	1,456	(2,773)	5,185
Deferred, Foreign	(23)	2	1
Income tax provision	$ 76,524	$ 41,686	$ 34,056

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Financial Instruments (Narrative) (Details)	12 Months Ended
Financial Instruments (Narrative) (Details)	Dec. 31, 2020
Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Period in which the interest rate will reset	30 days
Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Period in which the interest rate will reset	60 days

Stock-Based Compensation Plans (Schedule Of Valuation Assumptions) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock-Based Compensation Plans [Abstract]
Stock price on date of issuance	$ 471.74	$ 413.19	$ 306.70
Grant date fair value per share	$ 97.56	$ 78.06	$ 67.16
Number of options granted	298,670	287,010	246,350
Expected term (years)	3 years 6 months	4 years	4 years
Risk free rate of return	0.24%	1.65%	2.99%
Volatility	28.41%	21.25%	22.42%
Dividend yield	0.30%	0.30%	0.40%
Forfeiture rate

Legal And Regulatory Matters (Narrative) (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2017	Aug. 31, 2020	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Accrued legal				$ 10,632	$ 6,941
Settlement Agreement [Member]
Loss Contingencies [Line Items]
Term to impose monitoring, reporting, certification, oversight, screening, and training	5 years
Seper/Chhina v. VITAS [Member]
Loss Contingencies [Line Items]
Period of preceding the filing of a lawsuit				4 years
Settlement amount			$ 5,750
Lax v. Roto-Rooter [Member]
Loss Contingencies [Line Items]
Period of preceding the filing of a lawsuit				4 years
Settlement amount		$ 2,600
Accrued legal				$ 3,100

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations [Abstract]

Schedule Of Estimated Timing Of Payments Of Liabilities


2021	$	826
2022		300
Thereafter		601
	$	1,727

Summary Of Significant Accounting Policies (Schedule Of Movement In Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Combination Segment Allocation [Line Items]
Beginning balance	$ 577,367	$ 510,570
Business combinations	1,193	66,726
Foreign currency adjustments	25	71
Ending balance	578,585	577,367
VITAS [Member]
Business Combination Segment Allocation [Line Items]
Beginning balance	333,331	333,331
Business combinations
Foreign currency adjustments
Ending balance	333,331	333,331
Roto-Rooter [Member]
Business Combination Segment Allocation [Line Items]
Beginning balance	244,036	177,239
Business combinations	1,193	66,726
Foreign currency adjustments	25	71
Ending balance	$ 245,254	$ 244,036

Stock-Based Compensation Plans (Schedule of Comparative Date for Performance Stock Units) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Per-share fair value	$ 466.43	$ 331.69	$ 333.75
Volatility	28.41%	21.25%	22.42%
Risk-free interest rate	0.24%	1.65%	2.99%
Service period (years)	2 years 10 months 24 days	2 years 10 months 24 days	2 years 10 months 24 days
Three-year measurement period ends December 31,	2022	2021	2020
Performance Based TSR [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock granted - target	5,156	7,029	7,523
Per-share fair value	$ 643.44	$ 434.51	$ 341.20
Volatility	21.40%	21.40%	22.90%
Risk-free interest rate	1.30%	2.45%	2.34%
Performance Based EPS [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock granted - target	5,156	7,029	7,523
Per-share fair value	$ 487.90	$ 322.40	$ 256.29

Long-Term Debt And Lines Of Credit

12 Months Ended

Dec. 31, 2020

Long-Term Debt And Lines Of Credit [Abstract]

Long-Term Debt And Lines Of Credit

3. Long-Term Debt and Lines of Credit

On June 20, 2018, we replaced our existing credit agreement with the Fourth Amended and Restated Credit Agreement (“2018 Credit Agreement”). Terms of the 2018 Credit Agreement consist of a five year, $450 million revolving credit facility and a $150 million expansion feature, which may consist of term loans or additional revolving commitments. The 2018 Credit Agreement has a floating interest rate that is generally LIBOR plus a tiered additional rate which varies based on our current leverage ratio. For December 31, 2020 and 2019, respectively, the interest rate is LIBOR plus 100 basis points. The 2018 Credit Agreement includes transition provisions in the instance LIBOR is no longer published or used as an industry-accepted rate.

Debt issuance costs associated with the prior credit agreement were not written off as the lenders and their relative percentage participation in the facility did not change. With respect to the 2018 Credit Agreement, deferred financing costs were $1.0 million.

The debt outstanding at December 31, 2020 and 2019 consists of the following (in thousands):


		December 31,
		2020		2019
Revolver	$	-	$	90,000
Term loan		-		-
Total		-		90,000
Current portion of term loan		-		-
Long-term debt	$	-	$	90,000

Capitalized interest was not material for any of the periods shown. Summarized below are the total amounts of interest paid during the years ended December 31 (in thousands):


2020	$	2,028
2019		4,125
2018		4,178

The 2018 Credit Agreement contains the following quarterly financial covenants effective as of December 31, 2020:


		Chemed
Description	Requirement	December 31, 2020


Leverage Ratio (Consolidated Indebtedness/Consolidated Adj. EBITDA)	< 3.50 to 1.00	0.08 to 1.00

Fixed Charge Coverage Ratio (Consolidated Free Cash Flow/Consolidated
Fixed Charges)	> 1.50 to 1.00	5.04 to 1.00

We are in compliance with all debt covenants as of December 31, 2020. We have issued $37.9 million in standby letters of credit as of December 31, 2020 for insurance purposes. Issued letters of credit reduce our available credit under the 2018 Credit Agreement. As of December 31, 2020, we have approximately $412.1 million of unused lines of credit available and eligible to be drawn down under our revolving credit facility.

Other Income - Net (Tables)

12 Months Ended

Dec. 31, 2020

Other Income - Net [Abstract]

Schedule Of Other Income - Net


		For the Years Ended December 31,
		2020		2019		2018

Market value gains related to deferred
compensation trusts	$	7,933	$	8,254	$	287
Interest income		757		513		671
Other expense--net		(25)		(3)		-
Total other income	$	8,665	$	8,764	$	958

Intangible Assets (Schedule Of Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Definite and Indefinite-lived Intangible Assets [Line Items]
Gross Asset, Subtotal- definite-lived intangibles	$ 109,150	$ 108,250
Accumulated Amortization, Subtotal- definite-lived intangibles	(47,607)	(37,620)
Net Book Value, Subtotal - definite-lived intangibles	61,543	70,630
Intangible assets, Gross Asset	165,692	163,990
Intangible assets, Net Book Value	118,085	126,370
VITAS Trade Name [Member]
Definite and Indefinite-lived Intangible Assets [Line Items]
Gross Asset, Subtotal- definite-lived intangibles	51,300	51,300
Net Book Value, Subtotal - definite-lived intangibles	51,300	51,300
Roto-Rooter Trade Name [Member]
Definite and Indefinite-lived Intangible Assets [Line Items]
Gross Asset, Subtotal- definite-lived intangibles	150	150
Net Book Value, Subtotal - definite-lived intangibles	150	150
Operating Licenses [Member]
Definite and Indefinite-lived Intangible Assets [Line Items]
Gross Asset, Subtotal- definite-lived intangibles	5,092	4,290
Net Book Value, Subtotal - definite-lived intangibles	5,092	4,290
Referral Networks [Member]
Definite and Indefinite-lived Intangible Assets [Line Items]
Gross Asset, Subtotal- definite-lived intangibles	21,850	21,850
Accumulated Amortization, Subtotal- definite-lived intangibles	(21,294)	(21,223)
Net Book Value, Subtotal - definite-lived intangibles	556	627
Non-Compete Agreements [Member]
Definite and Indefinite-lived Intangible Assets [Line Items]
Gross Asset, Subtotal- definite-lived intangibles	10,076	10,036
Accumulated Amortization, Subtotal- definite-lived intangibles	(9,632)	(9,478)
Net Book Value, Subtotal - definite-lived intangibles	444	558
Customer Lists [Member]
Definite and Indefinite-lived Intangible Assets [Line Items]
Gross Asset, Subtotal- definite-lived intangibles	4,746	4,746
Accumulated Amortization, Subtotal- definite-lived intangibles	(1,577)	(1,362)
Net Book Value, Subtotal - definite-lived intangibles	3,169	3,384
Reacquired Franchise Rights [Member]
Definite and Indefinite-lived Intangible Assets [Line Items]
Gross Asset, Subtotal- definite-lived intangibles	72,478	71,618
Accumulated Amortization, Subtotal- definite-lived intangibles	(15,104)	(5,557)
Net Book Value, Subtotal - definite-lived intangibles	$ 57,374	$ 66,061

Stock-Based Compensation Plans (Schedule Of Comparative Data For Stocks Option, Stock Awards And PSUs) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock-Based Compensation Plans [Abstract]
Total compensation expense of stock-based compensation plans charged against income	$ 26,802	$ 21,338	$ 19,229
Total income tax benefit recognized in income for stock based compensation expense charged against income	6,904	5,373	4,788
Total intrinsic value of stock options exercised	125,448	106,793	102,144
Total intrinsic value of stock awards vested during the period	$ 1,171	$ 767	$ 4,003
Per-share weighted average grant-date fair value of stock awards granted	$ 466.43	$ 331.69	$ 333.75

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2020

Revenue Recognition [Abstract]

Schedule Of Patient Care Service Revenue

The composition of patient care service revenue by payor and level of care for the year ended December 31, 2020 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	1,033,487	$	48,813	$	24,058	$	1,106,358
Continuous care		123,696		6,344		5,971		136,011
Inpatient care		100,259		9,646		5,051		114,956
	$	1,257,442	$	64,803	$	35,080	$	1,357,325

All other revenue - self-pay, respite care, etc.								11,164
Subtotal							$	1,368,489
Medicare cap adjustment								(6,678)
Implicit price concessions								(14,970)
Room and board, net								(12,174)
Net revenue							$	1,334,667

The composition of patient care service revenue by payor and level of care for the year ended December 31, 2019 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	1,003,308	$	48,420	$	24,297	$	1,076,025
Continuous care		121,019		6,712		5,742		133,473
Inpatient care		84,752		9,102		6,066		99,920
	$	1,209,079	$	64,234	$	36,105	$	1,309,418

All other revenue - self-pay, respite care, etc.								10,433
Subtotal							$	1,319,851
Medicare cap adjustment								(12,415)
Implicit price concessions								(14,893)
Room and board, net								(11,359)
Net revenue							$	1,281,184

The composition of patient care service revenue by payor and level of care for the year ended December 31, 2018 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	939,951	$	47,609	$	22,958	$	1,010,518
Continuous care		110,596		6,126		5,776		122,498
Inpatient care		69,354		8,156		5,167		82,677
	$	1,119,901	$	61,891	$	33,901	$	1,215,693

All other revenue - self-pay, respite care, etc.								7,831
Subtotal							$	1,223,524
Medicare cap adjustment								(4,123)
Implicit price concessions								(11,785)
Room and board, net								(10,054)
Net revenue							$	1,197,562

Schedule Of Disaggregated Revenue


		2020		2019		2018
Short-term core service jobs	$	552,500	$	482,625	$	425,845
Water restoration		126,378		115,949		109,484
Contractor revenue		64,727		58,086		50,169
Franchise fees		4,893		6,152		6,382
All other		13,537		12,279		11,958
Subtotal	$	762,035	$	675,091	$	603,838
Implicit price concessions and credit memos		(17,119)		(17,720)		(18,752)
Net revenue	$	744,916	$	657,371	$	585,086

Segments And Nature Of The Business

12 Months Ended

Dec. 31, 2020

Segments And Nature Of The Business [Abstract]

Segments And Nature Of The Business

5. Segments and Nature of the Business

Our segments include the VITAS segment and the Roto-Rooter segment. Relative contributions of each segment to service revenues and sales were 64% and 36% in 2020, 66% and 34% in 2019 and 67% and 33% in 2018. The vast majority of our service revenues and sales from continuing operations are generated from business within the United States. Service revenues and sales by business segment are shown in Note 2.

The reportable segments have been defined along service lines, which is consistent with the way the businesses are managed. In determining reportable segments, the RRSC and RRC operating units of the Roto-Rooter segment have been aggregated on the basis of possessing similar operating and economic characteristics. The characteristics of these operating segments and the basis for aggregation are reviewed annually.

We report corporate administrative expenses and unallocated investing and financing income and expense not directly related to either segment as “Corporate”. Corporate administrative expense includes the stewardship, accounting and reporting, legal, tax and other costs of operating a publicly held corporation. Corporate investing and financing income and expenses include the costs and income associated with corporate debt and investment arrangements.

‎

Segment data are set forth below (in thousands):


		For the Years Ended December 31,
		2020		2019		2018
After-tax Segment Earnings/(Loss)
VITAS	$	238,782	$	155,822	$	138,846
Roto-Rooter		120,394		103,710		98,711
Total		359,176		259,532		237,557
Corporate		(39,710)		(39,609)		(32,013)
Net income	$	319,466	$	219,923	$	205,544
Interest Income
VITAS	$	20,565	$	18,515	$	13,412
Roto-Rooter		6,332		8,285		7,000
Total		26,897		26,800		20,412
Corporate		13		-		-
Intercompany eliminations		(26,153)		(26,287)		(19,741)
Total interest income	$	757	$	513	$	671
Interest Expense
VITAS	$	166	$	169	$	175
Roto-Rooter		340		345		319
Total		506		514		494
Corporate		1,849		4,021		4,496
Total interest expense	$	2,355	$	4,535	$	4,990
Income Tax Provision
VITAS	$	76,473	$	48,711	$	40,847
Roto-Rooter		37,038		30,276		28,850
Total		113,511		78,987		69,697
Corporate		(36,987)		(37,301)		(35,641)
Total income tax provision	$	76,524	$	41,686	$	34,056
Identifiable Assets
VITAS	$	672,246	$	663,455	$	553,949
Roto-Rooter		499,101		507,480		351,030
Total		1,171,347		1,170,935		904,979
Corporate		263,564		97,382		70,550
Total identifiable assets	$	1,434,911	$	1,268,317	$	975,529
Additions to Long-Lived Assets
VITAS	$	28,865	$	25,530	$	36,969
Roto-Rooter		27,682		162,494		68,786
Total		56,547		188,024		105,755
Corporate		5,246		1,000		128
Total additions to long-lived assets	$	61,793	$	189,024	$	105,883
Depreciation and Amortization
VITAS	$	22,239	$	20,055	$	19,700
Roto-Rooter		34,208		24,994		19,016
Total		56,447		45,049		38,716
Corporate		136		156		147
Total depreciation and amortization	$	56,583	$	45,205	$	38,863

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Financial Instruments [Abstract]

Carrying Value, Fair Value And Hierarchy Of Financial Instruments

The following shows the carrying value, fair value and the hierarchy for our financial instruments as of December 31, 2020 (in thousands):


				Fair Value Measure
		Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

Investments of deferred compensation plans held in trust	$	88,811	$	88,811	$	-	$	-

The following shows the carrying value, fair value and the hierarchy for our financial instruments as of December 31, 2019 (in thousands):


				Fair Value Measure
		Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

Investments of deferred compensation plans held in trust	$	77,446	$	77,446	$	-	$	-
Long-term debt and current portion of long-term debt		90,000		-		90,000		-

Retirement Plans (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Retirement Plans [Abstract]
Number of treasury stock shares held	74,262	77,963
Treasury stock held value	$ 2.3	$ 2.3

Discontinued Operations (Narrative) (Details) - DuBois [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Estimated liability for potential environmental cleanup and related costs from the sale	$ 1,700	$ 1,700
Discontinued operations, amount included in other current liabilities	826
Discontinued operations, amount included in other liabilities (long-term)	901
Maximum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent liability for incurring additional environmental cleanup and related costs	$ 14,900

Leases (Components Of Lease Expense) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Lease Expense

Operating lease expense

^[1]

$ 60,195

$ 49,112

Sublease income

^[1]

(83)

(6)

Net lease expense

^[1]

$ 60,112

$ 49,106

[1]	Includes short-term leases and variable lease costs, which are immaterial. Included in both cost of services provided and goods sold and selling, general and administrative expenses.

Acquisitions (Schedule Of Business Acquisitions Revenue And Net Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Service revenue and sales	$ 2,079,583	$ 1,938,555	$ 1,782,648
Net income/(loss)	$ 319,466	219,923	205,544
HSW RR, Inc [Member]
Business Acquisition [Line Items]
Service revenue and sales		20,141	1,782
Net income/(loss)		(2,777)
Roto-Rooter, Oakland [Member]
Business Acquisition [Line Items]
Service revenue and sales		5,150	95
Net income/(loss)		231
HSW And Oakland [Member]
Business Acquisition [Line Items]
Service revenue and sales		25,291	$ 1,877
Net income/(loss)		$ (2,546)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details