0001562762-23-000299 | 10-Q | XBRL Viewer

Other Income/(Expense) – Net (Tables)

6 Months Ended

Jun. 30, 2023

Other Income/(Expense) – Net [Abstract]

Schedule Of Other Income/(Expense) – Net



	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Market value adjustment on assets held in
deferred compensation trust	$	1,504	$	(5,086)	$	1,184	$	(9,020)
Interest income		113		154		263		226
Other-net		(8)		2		59		2
Total other income/(expense) - net	$	1,609	$	(4,930)	$	1,506	$	(8,792)

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 159,924	$ 74,126
Accounts receivable	120,314	139,408
Inventories	11,684	10,272
Prepaid income taxes	16,666	18,515
Prepaid expenses	28,572	30,291
Total current assets	337,160	272,612
Investments of deferred compensation plans	99,522	93,196
Properties and equipment, at cost, less accumulated depreciation of $341,908 (2022- $335,920)	208,101	199,714
Lease right of use asset	127,215	135,662
Identifiable intangible assets less accumulated amortization of $43,929 (2022 - $67,716)	94,932	99,726
Goodwill	581,542	581,295
Other assets	56,708	59,807
Total Assets	1,505,180	1,442,012
Current liabilities
Accounts payable	41,058	41,884
Current portion of long-term debt		5,000
Accrued insurance	57,461	58,515
Accrued compensation	74,384	87,350
Accrued legal	6,096	4,456
Short-term lease liability	38,779	38,996
Other current liabilities	84,709	61,004
Total current liabilities	302,487	297,205
Deferred income taxes	36,681	38,613
Long-term debt		92,500
Deferred compensation liabilities	98,941	92,330
Long-term lease liability	102,112	110,513
Other liabilities	12,880	12,136
Total Liabilities	553,101	643,297
Commitments and contingencies (Note 10)
STOCKHOLDERS' EQUITY
Capital stock - authorized 80,000,000 shares $1 par; issued 36,996,451 shares (2022 - 36,795,792 shares)	36,996	36,796
Paid-in capital	1,240,415	1,149,899
Retained earnings	2,294,004	2,197,918
Treasury stock - 21,983,002 shares (2022 - 21,920,993 shares)	(2,621,657)	(2,588,145)
Deferred compensation payable in Company stock	2,321	2,247
Total Stockholders' Equity	952,079	798,715
Total Liabilities and Stockholders' Equity	$ 1,505,180	$ 1,442,012

Document And Entity Information	6 Months Ended
Document And Entity Information	Jun. 30, 2023 shares
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Fiscal Period Focus	Q2
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-8351
Entity Registrant Name	CHEMED CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	31-0791746
Entity Address, Address Line One	255 E. Fifth Street
Entity Address, Address Line Two	Suite 2600
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45202
City Area Code	513
Local Phone Number	762-6690
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
Entity Shell Company	false
Title of 12(b) Security	Capital Stock $1 Par Value
Trading Symbol	CHE
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	15,076,619
Amendment Flag	false
Entity Central Index Key	0000019584
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023

Leases (Summary Of Maturity Of Operating Lease Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023	$ 23,620
2024	39,993
2025	32,004
2026	24,785
2027	13,856
Thereafter	16,116
Total lease payments	150,374
Less: interest	(9,483)
Total liability recognized on the balance sheet	$ 140,891	$ 149,509

Revenue Recognition

6 Months Ended

Jun. 30, 2023

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 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”).

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 include 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 for the quarter ended June 30, 2023 and 2022 was $2.2 million and $1.9 million, respectively. The cost of providing charity care during the first six months ended June 30, 2023 and 2022 was $4.2 million and $4.0 million, respectively. The cost of charity care is included in cost of services provided and goods sold and is calculated by taking the ratio of charity care days to total days of care and multiplying by the 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. Medicare and Medicaid programs have broad authority to audit and review compliance with such laws and regulations, and impose payment suspensions when merited. 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 three months ended June 30, 2023 and 2022.

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 June 30, 2023, 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.

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 quarter ended June 30, 2023 is as follows (in thousands):



	Medicare		Medicaid		Commercial		Total
Routine home care	$	260,770	$	11,388	$	5,958	$	278,116
Continuous care		19,403		864		814		21,081
Inpatient care		23,899		1,848		1,654		27,401
	$	304,072	$	14,100	$	8,426	$	326,598

All other revenue - self-pay, respite care, etc.								3,154
Subtotal							$	329,752
Medicare cap adjustment								(2,750)
Implicit price concessions								(3,237)
Room and board, net								(2,904)
Net revenue							$	320,861

The composition of patient care service revenue by payor and level of care for the quarter ended June 30, 2022 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	241,028	$	11,119	$	5,484	$	257,631
Continuous care		18,044		735		759		19,538
Inpatient care		21,595		1,807		1,217		24,619
	$	280,667	$	13,661	$	7,460	$	301,788

All other revenue - self-pay, respite care, etc.								3,213
Subtotal							$	305,001
Medicare cap adjustment								(2,000)
Implicit price concessions								(3,054)
Room and board, net								(2,166)
Net revenue							$	297,781

‎

The composition of patient care service revenue by payor and level of care for six months ended June 30, 2023 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	511,686	$	21,956	$	11,524	$	545,166
Continuous care		37,912		1,514		1,596		41,022
Inpatient care		49,419		4,280		2,795		56,494
	$	599,017	$	27,750	$	15,915	$	642,682

All other revenue - self-pay, respite care, etc.								6,175
Subtotal							$	648,857
Medicare cap adjustment								(5,500)
Implicit price concessions								(6,346)
Room and board, net								(5,672)
Net revenue							$	631,339

The composition of patient care service revenue by payor and level of care for the six months ended June 30, 2022 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	482,365	$	22,026	$	10,876	$	515,267
Continuous care		36,020		1,550		1,546		39,116
Inpatient care		45,022		3,770		2,397		51,189
	$	563,407	$	27,346	$	14,819	$	605,572

All other revenue - self-pay, respite care, etc.								6,220
Subtotal							$	611,792
Medicare cap adjustment								(4,500)
Implicit price concessions								(6,039)
Room and board, net								(4,283)
Net revenue							$	596,970

Roto-Rooter

Roto-Rooter provides plumbing, drain cleaning, excavation, 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 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 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 (“Independent Contractors”). Such contracts are 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. Each such 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. 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 second quarter is as follows (in thousands):


	June 30,
	2023		2022
Drain cleaning	$	60,362	$	64,532
Plumbing		48,719		48,885
Excavation		57,552		55,546
Other		184		155
Subtotal - short term core		166,817		169,118
Water restoration		44,978		43,673
Independent contractors		21,875		21,005
Franchisee fees		1,388		1,370
Other		4,301		4,240
Gross revenue		239,359		239,406
Implicit price concessions and credit memos		(6,404)		(5,899)
Net revenue	$	232,955	$	233,507

The composition of disaggregated revenue for the first six months is as follows (in thousands):


	June 30,
	2023		2022
Drain cleaning	$	126,851	$	131,219
Plumbing		99,172		96,557
Excavation		117,128		110,734
Other		377		321
Subtotal - short term core		343,528		338,831
Water restoration		95,741		84,033
Independent contractors		45,175		42,423
Franchisee fees		2,739		2,688
Other		9,045		8,430
Gross revenue		496,228		476,405
Implicit price concessions and credit memos		(13,594)		(11,538)
Net revenue	$	482,634	$	464,867

- 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 https://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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Cash Overdrafts and Cash Equivalents (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash Overdrafts and Cash Equivalents [Abstract]
Cash overdrafts included in accounts payable	$ 0	$ 0

Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

7. 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 inpatient units (“IPUs”) and/or contract beds within hospitals. Roto-Rooter mainly has leased office space. Our leases have remaining terms of under 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.

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.

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

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


	June 30,		‎December 31,
	2023		2022
Assets
Operating lease assets	$	127,215	$	135,662

Liabilities
Current operating leases		38,779		38,996
Noncurrent operating leases		102,112		110,513
Total operating lease liabilities	$	140,891	$	149,509

‎

The components of lease expense for the second quarter are as follows (in thousands):


	Three months ended June 30,
	2023		2022
Lease Expense (a)
Operating lease expense	$	14,944	$	13,249
Sublease income		(23)		(45)
Net lease expense	$	14,921	$	13,204

The component of lease expense for the first six months is as follows (in thousands):


	Six months ended June 30,
	2023		2022
Lease Expense (a)
Operating lease expense	$	29,813	$	26,300
Sublease income		(46)		(91)
Net lease expense	$	29,767	$	26,209

(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:


	Six months ended June 30,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from leases	$	25,055	$	25,173

Leased assets obtained in exchange for new operating lease liabilities	$	14,340	$	27,589


Weighted Average Remaining Lease Term at June 30, 2023
Operating leases	4.46	years


Weighted Average Discount Rate at June 30, 2023
Operating leases	2.77	%


Maturity of Operating Lease Liabilities (in thousands)

2023	$	23,620
2024		39,993
2025		32,004
2026		24,785
2027		13,856
Thereafter		16,116
Total lease payments	$	150,374
Less: interest		(9,483)
Total liability recognized on the balance sheet	$	140,891

For leases commencing prior to April 2019, minimum rental payments exclude payments to landlords for real estate taxes and common area maintenance. Operating lease payments include $2.7 million related to extended lease terms that are reasonably certain of being exercised and exclude $2.0 million of lease payments for leases signed but not yet commenced.

Concentration Of Risk (Narrative) (Details) - item	6 Months Ended	12 Months Ended
Concentration Of Risk (Narrative) (Details) - item	Jun. 30, 2023	Dec. 31, 2022
VITAS [Member]
Concentration Risk [Line Items]
Number of service providers	1
Medicare [Member] \| Accounts Receivable [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	61.00%	64.00%
Medicaid [Member] \| Accounts Receivable [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	30.00%	29.00%
Medicare, Medicaid, And Managed Medicaid [Member] \| Accounts Receivable [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	71.00%

Acquisitions (Narrative) (Details)		12 Months Ended
Acquisitions (Narrative) (Details)	Jun. 01, 2023 USD ($)	Dec. 31, 2022 USD ($) item
Florida Provider [Member]
Asset Acquisition [Line Items]
Purchase of assets in cash		$ 1,240,000
Franchises, New Jersey [Member]
Asset Acquisition [Line Items]
Number of completed business combinations \| item		3
Franchises, New Jersey [Member] \| Three franchises and the related assets in New Jersey [Member]
Asset Acquisition [Line Items]
Acquisition, in cash		$ 2,290,000
Roto-Rooter [Member] \| One franchise in South Carolina [Member]
Asset Acquisition [Line Items]
Acquisition, in cash	$ 305,000

Capital Stock Repurchase Plan Transactions (Schedule Of Repurchased Capital Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Capital Stock Repurchase Plan Transactions [Abstract]
Total cost of repurchased shares	$ 13,425	$ 49,861	$ 13,425	$ 77,214
Shares repurchased	25,000	100,000	25,000	157,500
Weighted average price per share	$ 536.98	$ 498.61	$ 536.98	$ 491.81

Acquisitions (Schedule Of Movement In Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Line Items]
Beginning balance	$ 581,295
Business combinations	207
Foreign currency adjustments	40
Ending balance	581,542
VITAS [Member]
Goodwill [Line Items]
Beginning balance	334,063
Ending balance	334,063
Roto-Rooter [Member]
Goodwill [Line Items]
Beginning balance	247,232
Business combinations	207
Foreign currency adjustments	40
Ending balance	$ 247,479

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2023

Other Current Liabilities [Abstract]

Schedule of Other Current Liabilities


	June 30,		December 31,
	2023		2022

Healthcare worker retention bonus	$	43,384	$	19,634
Medicare Cap		13,115		14,380
All other		28,210		26,990
	$	84,709	$	61,004

Consolidated Statements Of Changes In Stockholders Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Consolidated Statements Of Changes In Stockholders Equity [Abstract]
Dividends paid per share	$ 0.38	$ 0.36	$ 0.76	$ 0.72

Leases (Narrative) (Details)	6 Months Ended
Leases (Narrative) (Details)	Jun. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Finance Lease, Liability	$ 0
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 0
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	$ 2,700,000
Lease payments for leases signed but not yet commenced	$ 2,000,000.0
Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining terms of leases under operating lease	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining terms of leases under operating lease	10 years

Revenue Recognition (Schedule Of Disaggregated Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Subtotal	$ 329,752	$ 305,001	$ 648,857	$ 611,792
Net revenue	320,861	297,781	631,339	596,970
Roto-Rooter [Member]
Subtotal	239,359	239,406	496,228	476,405
Implicit price concessions and credit memos	(6,404)	(5,899)	(13,594)	(11,538)
Net revenue	232,955	233,507	482,634	464,867
Roto-Rooter [Member] \| Drain cleaning [Member]
Subtotal	60,362	64,532	126,851	131,219
Roto-Rooter [Member] \| Plumbing [Member]
Subtotal	48,719	48,885	99,172	96,557
Roto-Rooter [Member] \| Excavation [Member]
Subtotal	57,552	55,546	117,128	110,734
Roto-Rooter [Member] \| Other [Member]
Subtotal	184	155	377	321
Roto-Rooter [Member] \| Short-Term Core [Member]
Subtotal	166,817	169,118	343,528	338,831
Roto-Rooter [Member] \| Water Restoration [Member]
Subtotal	44,978	43,673	95,741	84,033
Roto-Rooter [Member] \| Independent Contractors [Member]
Subtotal	21,875	21,005	45,175	42,423
Roto-Rooter [Member] \| Franchise Fees [Member]
Subtotal	1,388	1,370	2,739	2,688
Roto-Rooter [Member] \| Other [Member]
Subtotal	$ 4,301	$ 4,240	$ 9,045	$ 8,430

Financial Instruments (Narrative) (Details)	6 Months Ended
Financial Instruments (Narrative) (Details)	Jun. 30, 2023
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

Long-Term Debt And Lines of Credit (Tables)

6 Months Ended

Jun. 30, 2023

Long-Term Debt And Lines Of Credit [Abstract]

Financial Debt Covenants



Description		Requirement

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

Interest Coverage Ratio (Consolidated Adj. EBITDA/Consolidated Interest Expense)		> 3.00 to 1.00

Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Components Of Balance Sheet Information Related To Leases


	June 30,		‎December 31,
	2023		2022
Assets
Operating lease assets	$	127,215	$	135,662

Liabilities
Current operating leases		38,779		38,996
Noncurrent operating leases		102,112		110,513
Total operating lease liabilities	$	140,891	$	149,509

Components Of Lease Expense


	Three months ended June 30,
	2023		2022
Lease Expense (a)
Operating lease expense	$	14,944	$	13,249
Sublease income		(23)		(45)
Net lease expense	$	14,921	$	13,204

The component of lease expense for the first six months is as follows (in thousands):


	Six months ended June 30,
	2023		2022
Lease Expense (a)
Operating lease expense	$	29,813	$	26,300
Sublease income		(46)		(91)
Net lease expense	$	29,767	$	26,209

(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


	Six months ended June 30,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from leases	$	25,055	$	25,173

Leased assets obtained in exchange for new operating lease liabilities	$	14,340	$	27,589


Weighted Average Remaining Lease Term at June 30, 2023
Operating leases	4.46	years


Weighted Average Discount Rate at June 30, 2023
Operating leases	2.77	%

Summary Of Maturity Of Operating Lease Liabilities


Maturity of Operating Lease Liabilities (in thousands)

2023	$	23,620
2024		39,993
2025		32,004
2026		24,785
2027		13,856
Thereafter		16,116
Total lease payments	$	150,374
Less: interest		(9,483)
Total liability recognized on the balance sheet	$	140,891

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, 2021	$ 36,514	$ 1,044,341	$ 1,970,311	$ (2,430,094)	$ 2,201	$ 623,273
Net income			130,625			130,625
Dividends paid			(10,722)			(10,722)
Stock awards and exercise of stock options	137	44,877		(25,926)		19,088
Purchases of treasury stock				(77,214)		(77,214)
Other		(89)		(72)	71	(90)
Balance at Jun. 30, 2022	36,651	1,089,129	2,090,214	(2,533,306)	2,272	684,960
Balance at Mar. 31, 2022	36,579	1,064,448	2,029,158	(2,465,716)	2,236	666,705
Net income			66,456			66,456
Dividends paid			(5,400)			(5,400)
Stock awards and exercise of stock options	72	25,274		(17,693)		7,653
Purchases of treasury stock				(49,861)		(49,861)
Other		(593)		(36)	36	(593)
Balance at Jun. 30, 2022	36,651	1,089,129	2,090,214	(2,533,306)	2,272	684,960
Balance at Dec. 31, 2022	36,796	1,149,899	2,197,918	(2,588,145)	2,247	798,715
Net income			107,498			107,498
Dividends paid			(11,412)			(11,412)
Stock awards and exercise of stock options	200	89,995		(20,014)		70,181
Purchases of treasury stock				(13,425)		(13,425)
Other		521		(73)	74	522
Balance at Jun. 30, 2023	36,996	1,240,415	2,294,004	(2,621,657)	2,321	952,079
Balance at Mar. 31, 2023	36,884	1,186,119	2,246,354	(2,591,588)	2,284	880,053
Net income			53,377			53,377
Dividends paid			(5,727)			(5,727)
Stock awards and exercise of stock options	112	53,657		(16,608)		37,161
Purchases of treasury stock				(13,425)		(13,425)
Other		639		(36)	37	640
Balance at Jun. 30, 2023	$ 36,996	$ 1,240,415	$ 2,294,004	$ (2,621,657)	$ 2,321	$ 952,079

- Definition

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

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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.

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+ Details

Long-Term Debt And Lines Of Credit

6 Months Ended

Jun. 30, 2023

Long-Term Debt And Lines Of Credit [Abstract]

Long-Term Debt And Lines Of Credit

5. Long-Term Debt and Lines of Credit

On June 28, 2022, we replaced our existing credit facility with a fifth amended and restated Credit Agreement (“2022 Credit Facilities”). Terms of the 2022 Credit Facilities consist of a five-year $450.0 million revolver as well as a five-year $100.0 million term loan. Principal payments of $1.25 million on the term loan are due on the last day of each fiscal quarter, with a final payment due at the end of the agreement. The 2022 Credit Facilities have a floating interest rate that is generally the secured overnight financing rate (“SOFR”) plus an additional tiered rate which varies based on our current leverage ratio. As of June 30, 2023, the interest rate is SOFR plus 100 basis points. The 2022 Credit Facilities include an expansion feature that provides the Company the opportunity to increase its revolver and or term loan by an additional $250.0. million.

We made prepayments totaling $75.0 million in the first quarter of 2023, on the $100.0 million term loan. We paid the remaining balance of $21.3 million on April 28, 2023. There are no prepayment penalties associated with this repayment. There are no significant deferred debt issuance costs capitalized related to the term loan. This reduced the borrowing capacity of the 2022 Credit Facilities from $550.0 million to $450.0 million.

The 2022 Credit Facilities contain the following quarterly financial covenants effective as of June 30, 2023:



Description		Requirement

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

Interest Coverage Ratio (Consolidated Adj. EBITDA/Consolidated Interest Expense)		> 3.00 to 1.00

We are in compliance with all debt covenants as of June 30, 2023. We have issued $45.3 million in standby letters of credit as of June 30, 2023, mainly for insurance purposes. Issued letters of credit reduce our available credit under the 2022 Credit Facilities. As of June 30, 2023, we have approximately $404.7 million of unused lines of credit available and eligible to be drawn down under the revolving credit facility.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule Of Computation Of Earnings Per Share


			Net Income
For the Three Months Ended June 30,		Income		Shares	Earnings per Share
2023
	Earnings	$	53,377	15,058	$	3.54
	Dilutive stock options		-	115
	Nonvested stock awards		-	46
	Diluted earnings	$	53,377	15,219	$	3.51

2022
	Earnings	$	66,456	14,932	$	4.45
	Dilutive stock options		-	139
	Nonvested stock awards		-	40
	Diluted earnings	$	66,456	15,111	$	4.40


			Net Income
For the Six Months Ended June 30,		Income		Shares	Earnings per Share
2023
	Earnings	$	107,498	15,013	$	7.16
	Dilutive stock options		-	107
	Nonvested stock awards		-	47
	Diluted earnings	$	107,498	15,167	$	7.09

2022
	Earnings	$	130,625	14,959	$	8.73
	Dilutive stock options		-	152
	Nonvested stock awards		-	41
	Diluted earnings	$	130,625	15,152	$	8.62

Long-Term Debt And Lines of Credit (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Apr. 28, 2023	Mar. 31, 2023	Jun. 30, 2023	Jun. 28, 2022
SOFR [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate			1.00%
2022 Credit Facilities [Member]
Debt Instrument [Line Items]
Borrowing capacity	$ 450,000	$ 550,000
Standby letters of credit			$ 45,300
Unused lines of credit			$ 404,700
2022 Credit Facilities [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility period, years			5 years
Amount outstanding				$ 450,000
2022 Credit Facilities [Member] \| Expansion Feature [Member]
Debt Instrument [Line Items]
Borrowing capacity				250,000
2022 Credit Facilities [Member] \| Term Loan [Member]
Debt Instrument [Line Items]
Credit facility period, years			5 years
Periodic principal payments			$ 1,250
Frequency of principal payments			last day of each fiscal quarter
Repayment of long-term debt (Note 3)	$ 21,300	$ 75,000
Prepayment penalties			$ 0
Amount outstanding				$ 100,000
Deferred financing costs			$ 0

Legal And Regulatory Matters (Narrative) (Details)					6 Months Ended
Legal And Regulatory Matters (Narrative) (Details)	Aug. 29, 2022 USD ($)	Jul. 14, 2022 USD ($) item	Oct. 16, 2020 item	Oct. 17, 2017	Jun. 30, 2023
Audit of provision of elevated level-of-care hospice services [Member]
Loss Contingencies [Line Items]
Loss Contingency, Period of Occurrence					two-year time period
Number of total care claims \| item		50,850
Reimbursement amount over period of occurrence		$ 210,000,000.0
Number of claims selected \| item		100
Amount of reimbursement for claims selected		$ 688,000
Maximum damages sought		$ 140,000,000.0
Loss Contingency, Damages Sought, Value	$ 50,300,000
Difference between the final OAS audit recommendation and damages sought	90,000,000.0
VITAS [Member]
Loss Contingencies [Line Items]
Agreement Term				5 years
Number of Patients \| item			32
Refund of Amount Deposited	$ 2,500,000

Stock-Based Compensation Plans

6 Months Ended

Jun. 30, 2023

Stock-Based Compensation Plans [Abstract]

Stock-Based Compensation Plans

8. Stock-Based Compensation Plans

On February 17, 2023, the Compensation/Incentive Committee of the Board of Directors (“CIC”) granted 6,078 Performance Stock Units (“PSUs”) that vest contingent upon the achievement of certain total shareholder return (“TSR”) targets as compared to the TSR of a group of peer companies for the three-year period ending December 31, 2025, the date at which such awards vest. The cumulative compensation cost of the TSR-based PSU award to be recorded over the three-year service period is $5.1 million.

On February 17, 2023, the CIC also granted 6,078 PSUs that vest contingent upon the achievement of certain earnings per share (“EPS”) targets for the three-year period ending December 31, 2025. At the end of each reporting period, the Company estimates the number of shares that it believes will ultimately be earned and records the corresponding expense over the service period of the award. We currently estimate the cumulative compensation cost of the EPS-based PSUs to be recorded over the three-year service period is $4.2 million.

Stock-Based Compensation Plans (Narrative) (Details) - USD ($) $ in Millions		6 Months Ended
	Feb. 17, 2023	Jun. 30, 2023
Performance Based TSR [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period, years		3 years
Cumulative compensation expense	$ 5.1
Performance Based EPS [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period, years		3 years
Cumulative compensation expense	$ 4.2
Compensation/Incentive Committee [Member] \| Performance Based TSR [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock granted	6,078
Compensation/Incentive Committee [Member] \| Performance Based EPS [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock granted	6,078

Financial Instruments

6 Months Ended

Jun. 30, 2023

Financial Instruments [Abstract]

Financial Instruments

15. 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 June 30, 2023 (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	$	99,522	$	99,522	$	-	$	-

The following shows the carrying value, fair value and the hierarchy for our financial instruments as of December 31, 2022 (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	$	93,196	$	93,196	$	-	$	-
Long-term debt and current portion of long-term debt		97,500		-		97,500		-

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 5, our outstanding long-term debt has a floating interest rate that is 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 approximates its carrying value.

Capital Stock Repurchase Plan Transactions (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Nov. 30, 2021	May 31, 2021
Capital Stock Repurchase Plan Transactions [Abstract]
Stock repurchase program, amount authorized		$ 600.0	$ 600.0
Stock repurchase program, remaining authorized repurchase amount	$ 74.4

Other Income/(Expense) – Net (Schedule Of Other Income/(Expense) – Net) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Income/(Expense) – Net [Abstract]
Market value adjustment on assets held in deferred compensation trust	$ 1,504	$ (5,086)	$ 1,184	$ (9,020)
Interest income	113	154	263	226
Other-net	(8)	2	59	2
Total other income/(expense) - net	$ 1,609	$ (4,930)	$ 1,506	$ (8,792)

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Consolidated Statements Of Income [Abstract]
Service revenues and sales	$ 553,816	$ 531,288	$ 1,113,973	$ 1,061,837
Cost of services provided and goods sold (excluding depreciation)	374,193	336,821	744,898	673,373
Selling, general and administrative expenses	94,987	87,853	195,082	177,807
Depreciation	12,634	12,714	24,920	24,852
Amortization	2,514	2,520	5,027	5,038
Other operating expense/(income)	(18)	(558)	1,721	(545)
Total costs and expenses	484,310	439,350	971,648	880,525
Income from operations	69,506	91,938	142,325	181,312
Interest expense	(771)	(902)	(2,322)	(1,712)
Other expense/(income) - net	1,609	(4,930)	1,506	(8,792)
Income before income taxes	70,344	86,106	141,509	170,808
Income taxes	(16,967)	(19,650)	(34,011)	(40,183)
Net income	$ 53,377	$ 66,456	$ 107,498	$ 130,625
Earnings Per Share:
Net income	$ 3.54	$ 4.45	$ 7.16	$ 8.73
Average number of shares outstanding	15,058	14,932	15,013	14,959
Diluted Earnings Per Share:
Net income	$ 3.51	$ 4.40	$ 7.09	$ 8.62
Average number of shares outstanding	15,219	15,111	15,167	15,152
Cash Dividends Per Share	$ 0.38	$ 0.36	$ 0.76	$ 0.72

Basis Of Presentation

6 Months Ended

Jun. 30, 2023

Basis Of Presentation [Abstract]

Basis Of Presentation

1. Basis of Presentation

As used herein, the terms “We,” “Company” and “Chemed” refer to Chemed Corporation or Chemed Corporation and its consolidated subsidiaries.

We have prepared the accompanying unaudited consolidated financial statements of Chemed in accordance with Rule 10-01 of SEC Regulation S-X. Consequently, we have omitted certain disclosures required under generally accepted accounting principles in the United States (“GAAP”) for complete financial statements. The December 31, 2022 balance sheet data were derived from audited financial statements but do not include all disclosures required by GAAP. However, in our opinion, the financial statements presented herein contain all adjustments, consisting only of normal recurring adjustments, necessary to state fairly our financial position, results of operations and cash flows. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023 or any other future period, and we make no representations related thereto. These financial statements are prepared on the same basis as and should be read in conjunction with the audited Consolidated Financial Statements and related Notes included in our Annual Report on Form 10-K for the year ended December 31, 2022.

CLOUD COMPUTING

As of June 30, 2023, Roto-Rooter has no significant capitalized implementation costs related to cloud computing.

VITAS utilizes a human resources system that is considered a cloud computing arrangement. We have capitalized approximately $5.6 million related to implementation of this project which is included in prepaid assets in the accompanying balance sheets. The VITAS human resource system was placed into service in January 2020 and is being amortized over 5.7 years. For the three months ended June 30, 2023 and 2022, $249,000 has been amortized, respectively. For the six months ended June 30, 2023 and 2022, $497,000 has been amortized, respectively.

INCOME TAXES

Our effective income tax rate was 24.1% in the second quarter of 2023 compared to 22.8% during the second quarter of 2022. Excess tax benefit on stock options exercised reduced our income tax expenses by $1.5 million and $2.5 million for the quarters ended June 30, 2023 and 2022, respectively.

Our effective income tax rate was 24.0% in the first six months of 2023 compared to 23.5% during the first six months of 2022. Excess tax benefit on stock options exercised reduced our income tax expenses by $3.2 million and $3.9 million for the first six months ended June 30, 2023 and 2022, respectively.

NON-CASH TRANSACTIONS

Included in the accompanying Consolidated Balance Sheets are $2.1 million and $1.9 million of capitalized property and equipment which were not paid for as of June 30, 2023 and December 31, 2022, respectively. Accrued property and equipment purchases 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.

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 17 for discussion of recent acquisitions.

Quarterly amortization of intangible assets is mainly driven by two Roto-Rooter franchise acquisitions completed in 2019. The total purchase price of these acquisitions was $138.0 million. As part of the purchase price allocation, approximately $59.2 million was determined to be the value of reacquired franchise rights which are being amortized over the remaining life of each franchise agreement. The average remaining life on the reacquired franchise agreements was approximately seven years. Quarterly amortization of reacquired

franchise rights for these two acquisitions is approximately $2.0 million ($8.1 million annualized through 2026). This contrasts to quarterly franchise fees historically collected from these two franchisees of approximately $470,000 ($1.9 million annualized).

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. Disclosures of after-tax expenses and adjustments are based on estimates of the effective income tax rates for the applicable segments.

Capital Stock Repurchase Plan Transactions (Tables)

6 Months Ended

Jun. 30, 2023

Capital Stock Repurchase Plan Transactions [Abstract]

Schedule Of Repurchased Capital Stock



	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022

Total cost of repurchased shares (in thousands)	$	13,425	$	49,861	$	13,425	$	77,214
Shares repurchased		25,000		100,000		25,000		157,500
Weighted average price per share	$	536.98	$	498.61	$	536.98	$	491.81

Segments

6 Months Ended

Jun. 30, 2023

Segments [Abstract]

Segments

3. Segments

Service revenues and sales by business segment are shown in Note 2. After-tax income/(loss) by business segment are as follows (in thousands):



	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
VITAS	$	26,128	$	35,212	$	50,892	$	71,694
Roto-Rooter		44,374		47,072		92,027		91,009
Total		70,502		82,284		142,919		162,703
Corporate		(17,125)		(15,828)		(35,421)		(32,078)
Net income	$	53,377	$	66,456	$	107,498	$	130,625

We report corporate administrative expenses and unallocated investing and financing income and expense not directly related to either segment as “Corporate”.

- 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.

+ References

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-Name Accounting Standards Codification
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+ Details

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2023

Revenue Recognition [Abstract]

Schedule Of Patient Care Service Revenue

The composition of patient care service revenue by payor and level of care for the quarter ended June 30, 2023 is as follows (in thousands):



	Medicare		Medicaid		Commercial		Total
Routine home care	$	260,770	$	11,388	$	5,958	$	278,116
Continuous care		19,403		864		814		21,081
Inpatient care		23,899		1,848		1,654		27,401
	$	304,072	$	14,100	$	8,426	$	326,598

All other revenue - self-pay, respite care, etc.								3,154
Subtotal							$	329,752
Medicare cap adjustment								(2,750)
Implicit price concessions								(3,237)
Room and board, net								(2,904)
Net revenue							$	320,861

The composition of patient care service revenue by payor and level of care for the quarter ended June 30, 2022 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	241,028	$	11,119	$	5,484	$	257,631
Continuous care		18,044		735		759		19,538
Inpatient care		21,595		1,807		1,217		24,619
	$	280,667	$	13,661	$	7,460	$	301,788

All other revenue - self-pay, respite care, etc.								3,213
Subtotal							$	305,001
Medicare cap adjustment								(2,000)
Implicit price concessions								(3,054)
Room and board, net								(2,166)
Net revenue							$	297,781

‎

The composition of patient care service revenue by payor and level of care for six months ended June 30, 2023 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	511,686	$	21,956	$	11,524	$	545,166
Continuous care		37,912		1,514		1,596		41,022
Inpatient care		49,419		4,280		2,795		56,494
	$	599,017	$	27,750	$	15,915	$	642,682

All other revenue - self-pay, respite care, etc.								6,175
Subtotal							$	648,857
Medicare cap adjustment								(5,500)
Implicit price concessions								(6,346)
Room and board, net								(5,672)
Net revenue							$	631,339

The composition of patient care service revenue by payor and level of care for the six months ended June 30, 2022 is as follows (in thousands):


	Medicare		Medicaid		Commercial		Total
Routine home care	$	482,365	$	22,026	$	10,876	$	515,267
Continuous care		36,020		1,550		1,546		39,116
Inpatient care		45,022		3,770		2,397		51,189
	$	563,407	$	27,346	$	14,819	$	605,572

All other revenue - self-pay, respite care, etc.								6,220
Subtotal							$	611,792
Medicare cap adjustment								(4,500)
Implicit price concessions								(6,039)
Room and board, net								(4,283)
Net revenue							$	596,970

Schedule Of Disaggregated Revenue

The composition of disaggregated revenue for the second quarter is as follows (in thousands):


	June 30,
	2023		2022
Drain cleaning	$	60,362	$	64,532
Plumbing		48,719		48,885
Excavation		57,552		55,546
Other		184		155
Subtotal - short term core		166,817		169,118
Water restoration		44,978		43,673
Independent contractors		21,875		21,005
Franchisee fees		1,388		1,370
Other		4,301		4,240
Gross revenue		239,359		239,406
Implicit price concessions and credit memos		(6,404)		(5,899)
Net revenue	$	232,955	$	233,507

The composition of disaggregated revenue for the first six months is as follows (in thousands):


	June 30,
	2023		2022
Drain cleaning	$	126,851	$	131,219
Plumbing		99,172		96,557
Excavation		117,128		110,734
Other		377		321
Subtotal - short term core		343,528		338,831
Water restoration		95,741		84,033
Independent contractors		45,175		42,423
Franchisee fees		2,739		2,688
Other		9,045		8,430
Gross revenue		496,228		476,405
Implicit price concessions and credit memos		(13,594)		(11,538)
Net revenue	$	482,634	$	464,867

Retirement Plans (Schedule Of Expenses For Retirement, Profit-Sharing Plans, Excess Benefit Plans And Other Similar Plans) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Retirement Plans [Abstract]
Net (losses)/gains for retirement and profit-sharing plans, excess benefit plans and other similar plans	$ 5,550	$ 639	$ 11,424	$ 3,556

Legal And Regulatory Matters

6 Months Ended

Jun. 30, 2023

Legal And Regulatory Matters [Abstract]

Legal And Regulatory Matters

10. 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 with a five-year term. The CIA formalized various aspects of VITAS’ already existing Compliance Program and contained requirements designed to document compliance with federal healthcare program requirements. On June 22, 2023, the OIG confirmed that VITAS has satisfied its requirements under the CIA and that the CIA was concluded.

On October 16, 2020, VITAS received a Civil Investigative Demand (“CID”) issued by the U.S. Department of Justice (“DOJ”) 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 requested information regarding 32 patients from our Florida operations. On November 30, 2022, VITAS received a Letter of Declination from the DOJ, informing VITAS that the United States was declining to intervene in this case giving rise to the CID, United States Ex. Rel. O’Keefe v VITAS Healthcare Corporation, et al. that was unsealed on November 15, 2022. On April 6, 2023, the relator dismissed the case, without prejudice, with the consent of the United States.

VITAS is one of a group of hospice providers selected by the OIG’s Office of Audit Services (“OAS”) for inclusion in an audit of the provision of elevated level-of-care hospice services. On July 14, 2022, VITAS received the final audit report from OAS. Per this report, the OAS audit examined VITAS inpatient and continuous care claims for the period April 2017 to March 2019. The audit covered a total population of 50,850 claims representing total Medicare reimbursement of $210.0 million during this two-year time period. From this population, OAS selected 100 claims, representing $688,000 of reimbursement, for detailed review. The final OAS audit report includes a series of recommendations, including that VITAS repay approximately $140.0 million of the $210.0 million VITAS received from Medicare for hospice services during this two-year period, despite the fact that at the time of the release of the

results of the audit, many of the disputed claims were time-barred from being challenged. VITAS believes that the OAS audit process and related final report contains significant flaws including its methodology, medical reviews, technical reviews, proposed extrapolation methodology, and contravenes the “reasonable physician standard” set forth in the appliable Aseracare precedent.

On August 29, 2022, six weeks subsequent to the OAS finalizing its audit, VITAS received a demand letter from its Medicare Administrative Contractor (“MAC”) seeking repayment of $50.3 million. This demand letter is $90.0 million lower than the final OAS audit recommendation, as a significant portion of the 100 claims reviewed are closed pursuant to applicable law and ineligible to be reopened. VITAS timely filed its initial appeal of the overpayment decision and deposited $50.3 million under the “Immediate Recoupment” process to preserve its appeal rights. After the initial redetermination process, VITAS was refunded $2.5 million of the amount deposited and continues to appeal the remaining claims. The amount deposited has been recorded as an “other long-term asset” in the consolidated balance sheets, as detailed in Note 13.

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.

Other Income/(Expense) – Net

6 Months Ended

Jun. 30, 2023

Other Income/(Expense) – Net [Abstract]

Other Income/(Expense) – Net

6. Other Income/(Expense) – Net

Other income/(expense) – net comprises the following (in thousands):



	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Market value adjustment on assets held in
deferred compensation trust	$	1,504	$	(5,086)	$	1,184	$	(9,020)
Interest income		113		154		263		226
Other-net		(8)		2		59		2
Total other income/(expense) - net	$	1,609	$	(4,930)	$	1,506	$	(8,792)

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Consolidated Balance Sheets [Abstract]
Properties and equipment, at cost, accumulated depreciation	$ 341,908	$ 335,920
Identifiable intangible assets, accumulated amortization	$ 43,929	$ 67,716
Capital stock - authorized	80,000,000	80,000,000
Capital stock - par value	$ 1	$ 1
Capital stock - issued	36,996,451	36,795,792
Treasury stock	21,983,002	21,920,993

Capital Stock Repurchase Plan Transactions

6 Months Ended

Jun. 30, 2023

Capital Stock Repurchase Plan Transactions [Abstract]

Capital Stock Repurchase Plan Transactions

16. Capital Stock Repurchase Plan Transactions

We repurchased the following capital stock:



	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022

Total cost of repurchased shares (in thousands)	$	13,425	$	49,861	$	13,425	$	77,214
Shares repurchased		25,000		100,000		25,000		157,500
Weighted average price per share	$	536.98	$	498.61	$	536.98	$	491.81

In May and November 2021, the Board of Directors authorized a total of $600.0 million for additional stock repurchase under Chemed’s existing share repurchase program. We currently have $74.4 million of authorization remaining under this share repurchase plan.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

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-Name Accounting Standards Codification
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue Recognition (Schedule Of Patient Care Service Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	$ 329,752	$ 305,001	$ 648,857	$ 611,792
Net revenue	320,861	297,781	631,339	596,970
Routine Home Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	278,116	257,631	545,166	515,267
Continuous Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	21,081	19,538	41,022	39,116
Inpatient Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	27,401	24,619	56,494	51,189
Care Services Total [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	326,598	301,788	642,682	605,572
All Other Revenue- Self-pay, Respite Care, Etc. [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	3,154	3,213	6,175	6,220
Medicare Cap Adjustment [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Medicare cap adjustment	(2,750)	(2,000)	(5,500)	(4,500)
Implicit Price Concessions [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Implicit price concessions	(3,237)	(3,054)	(6,346)	(6,039)
Room And Board, Net [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Room and board, net	(2,904)	(2,166)	(5,672)	(4,283)
Medicare [Member] \| Routine Home Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	260,770	241,028	511,686	482,365
Medicare [Member] \| Continuous Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	19,403	18,044	37,912	36,020
Medicare [Member] \| Inpatient Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	23,899	21,595	49,419	45,022
Medicare [Member] \| Care Services Total [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	304,072	280,667	599,017	563,407
Medicaid [Member] \| Routine Home Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	11,388	11,119	21,956	22,026
Medicaid [Member] \| Continuous Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	864	735	1,514	1,550
Medicaid [Member] \| Inpatient Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	1,848	1,807	4,280	3,770
Medicaid [Member] \| Care Services Total [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	14,100	13,661	27,750	27,346
Commercial [Member] \| Routine Home Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	5,958	5,484	11,524	10,876
Commercial [Member] \| Continuous Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	814	759	1,596	1,546
Commercial [Member] \| Inpatient Care [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	1,654	1,217	2,795	2,397
Commercial [Member] \| Care Services Total [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Care service revenue	$ 8,426	$ 7,460	$ 15,915	$ 14,819

Earnings Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

4. Earnings per Share

Earnings per share (“EPS”) are computed using the weighted average number of shares of capital stock outstanding. Earnings and diluted earnings per share are computed as follows (in thousands, except per share data):


			Net Income
For the Three Months Ended June 30,		Income		Shares	Earnings per Share
2023
	Earnings	$	53,377	15,058	$	3.54
	Dilutive stock options		-	115
	Nonvested stock awards		-	46
	Diluted earnings	$	53,377	15,219	$	3.51

2022
	Earnings	$	66,456	14,932	$	4.45
	Dilutive stock options		-	139
	Nonvested stock awards		-	40
	Diluted earnings	$	66,456	15,111	$	4.40


			Net Income
For the Six Months Ended June 30,		Income		Shares	Earnings per Share
2023
	Earnings	$	107,498	15,013	$	7.16
	Dilutive stock options		-	107
	Nonvested stock awards		-	47
	Diluted earnings	$	107,498	15,167	$	7.09

2022
	Earnings	$	130,625	14,959	$	8.73
	Dilutive stock options		-	152
	Nonvested stock awards		-	41
	Diluted earnings	$	130,625	15,152	$	8.62

For the three and six months ended June 30, 2023, there were 311,335 stock options excluded from the computation of dilutive earnings per share because they would have been anti-dilutive.

For the three and six months ended June 30, 2022, there were 596,000 stock options excluded from the computation of dilutive earnings per share because they would have been anti-dilutive.

Cash Overdrafts and Cash Equivalents

6 Months Ended

Jun. 30, 2023

Cash Overdrafts and Cash Equivalents [Abstract]

Cash Overdrafts and Cash Equivalents

12. Cash Overdrafts and Cash Equivalents

There were no cash overdrafts payable included in accounts payable at June 30, 2023 and December 31, 2022.

From time to time throughout the year, we invest excess cash in money market funds with major commercial banks. We closely monitor the creditworthiness of the institutions with which we invest our overnight funds. The amount invested was not material for each balance sheet date presented.

Basis Of Presentation (Policy)	6 Months Ended
Basis Of Presentation (Policy)	Jun. 30, 2023
Basis Of Presentation [Abstract]
Basis Of Presentation	As used herein, the terms “We,” “Company” and “Chemed” refer to Chemed Corporation or Chemed Corporation and its consolidated subsidiaries. We have prepared the accompanying unaudited consolidated financial statements of Chemed in accordance with Rule 10-01 of SEC Regulation S-X. Consequently, we have omitted certain disclosures required under generally accepted accounting principles in the United States (“GAAP”) for complete financial statements. The December 31, 2022 balance sheet data were derived from audited financial statements but do not include all disclosures required by GAAP. However, in our opinion, the financial statements presented herein contain all adjustments, consisting only of normal recurring adjustments, necessary to state fairly our financial position, results of operations and cash flows. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023 or any other future period, and we make no representations related thereto. These financial statements are prepared on the same basis as and should be read in conjunction with the audited Consolidated Financial Statements and related Notes included in our Annual Report on Form 10-K for the year ended December 31, 2022.
Cloud Computing	CLOUD COMPUTING As of June 30, 2023, Roto-Rooter has no significant capitalized implementation costs related to cloud computing. VITAS utilizes a human resources system that is considered a cloud computing arrangement. We have capitalized approximately $5.6 million related to implementation of this project which is included in prepaid assets in the accompanying balance sheets. The VITAS human resource system was placed into service in January 2020 and is being amortized over 5.7 years. For the three months ended June 30, 2023 and 2022, $249,000 has been amortized, respectively. For the six months ended June 30, 2023 and 2022, $497,000 has been amortized, respectively.
Income Taxes	INCOME TAXES Our effective income tax rate was 24.1% in the second quarter of 2023 compared to 22.8% during the second quarter of 2022. Excess tax benefit on stock options exercised reduced our income tax expenses by $1.5 million and $2.5 million for the quarters ended June 30, 2023 and 2022, respectively. Our effective income tax rate was 24.0% in the first six months of 2023 compared to 23.5% during the first six months of 2022. Excess tax benefit on stock options exercised reduced our income tax expenses by $3.2 million and $3.9 million for the first six months ended June 30, 2023 and 2022, respectively.
Non-Cash Transactions	NON-CASH TRANSACTIONS Included in the accompanying Consolidated Balance Sheets are $2.1 million and $1.9 million of capitalized property and equipment which were not paid for as of June 30, 2023 and December 31, 2022, respectively. Accrued property and equipment purchases 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.
Business Combinations	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 17 for discussion of recent acquisitions. Quarterly amortization of intangible assets is mainly driven by two Roto-Rooter franchise acquisitions completed in 2019. The total purchase price of these acquisitions was $138.0 million. As part of the purchase price allocation, approximately $59.2 million was determined to be the value of reacquired franchise rights which are being amortized over the remaining life of each franchise agreement. The average remaining life on the reacquired franchise agreements was approximately seven years. Quarterly amortization of reacquired franchise rights for these two acquisitions is approximately $2.0 million ($8.1 million annualized through 2026). This contrasts to quarterly franchise fees historically collected from these two franchisees of approximately $470,000 ($1.9 million annualized).
Estimates	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. Disclosures of after-tax expenses and adjustments are based on estimates of the effective income tax rates for the applicable segments.

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

Other Current Liabilities

6 Months Ended

Jun. 30, 2023

Other Current Liabilities [Abstract]

Other Current Liabilities

‎

14. Other Current Liabilities


	June 30,		December 31,
	2023		2022

Healthcare worker retention bonus	$	43,384	$	19,634
Medicare Cap		13,115		14,380
All other		28,210		26,990
	$	84,709	$	61,004

There are no individual amounts exceeding 5% of the total current liabilities in the “all other” line item for either period presented.

Basis Of Presentation (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
Basis Of Presentation (Narrative) (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2019	Dec. 31, 2022
Effective tax rate	24.10%	22.80%	24.00%	23.50%
Excess tax benefit on stock options	$ 1,500,000	$ 2,500,000	$ 3,200,000	$ 3,900,000
Capitalized property and equipment	2,100,000		2,100,000			$ 1,900,000
Revenue from Contract with Customer, Including Assessed Tax	329,752,000	305,001,000	648,857,000	611,792,000
VITAS [Member] \| Cloud Computing [Member]
Capitalized contract cost	5,600,000		5,600,000
Capitalized contract cost, amortization expense	$ 249,000	$ 249,000	$ 497,000	$ 497,000
Capitalized contract cost, amortization period	5 years 8 months 12 days		5 years 8 months 12 days
Roto-Rooter [Member]
Total purchase price					$ 138,000,000.0
Reacquired Franchise Rights [Member] \| Roto-Rooter [Member]
Intangible assets acquired					$ 59,200,000
Quarterly amortization of reacquired franchise agreements			$ 2,000,000.0
Average remaining life			7 years
Reacquired Franchise Rights [Member] \| Roto-Rooter [Member] \| Annualized Through 2026 [Member]
Quarterly amortization of reacquired franchise agreements			$ 8,100,000
Reacquired Franchise Rights [Member] \| Franchise Fees [Member] \| Roto-Rooter [Member]
Revenue from Contract with Customer, Including Assessed Tax			470,000
Reacquired Franchise Rights [Member] \| Franchise Fees [Member] \| Roto-Rooter [Member] \| Annualized [Member]
Revenue from Contract with Customer, Including Assessed Tax			$ 1,900,000

Retirement Plans (Tables)

6 Months Ended

Jun. 30, 2023

Retirement Plans [Abstract]

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



Three months ended June 30,				Six months ended June 30,
2023		2022		2023		2022
$	5,550	$	639	$	11,424	$	3,556

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2023

Acquisitions [Abstract]

Schedule Of Movement In Goodwill


	VITAS		Roto-Rooter		Total
Balance at December 31, 2022	$	334,063	$	247,232	$	581,295
Business combinations		-		207		207
Foreign currency adjustments		-		40		40
Balance at June 30, 2023	$	334,063	$	247,479	$	581,542

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Segments (Segment Data) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Segments (Segment Data) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net income	$ 53,377	$ 66,456	$ 107,498	$ 130,625
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net income	70,502	82,284	142,919	162,703
VITAS [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net income	26,128	35,212	50,892	71,694
Roto-Rooter [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net income	44,374	47,072	92,027	91,009
Corporate [Member]
Segment Reporting Information [Line Items]
Net income	$ (17,125)	$ (15,828)	$ (35,421)	$ (32,078)

- Definition

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

+ References

+ Details

Concentration Of Risk

6 Months Ended

Jun. 30, 2023

Concentration Of Risk [Abstract]

Concentration Of Risk

11. Concentration of Risk

As of June 30, 2023, and December 31, 2022, approximately 61% and 64%, respectively, of VITAS’ total accounts receivable balance were from Medicare and 30% and 29%, 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 71% of the consolidated net accounts receivable in the accompanying consolidated balance sheets as of June 30, 2023.

VITAS has a pharmacy services contract with one service provider for specified pharmacy services related to its hospice operations. Similarly, effective January 1, 2022, VITAS obtains the majority of its medical supplies from a single vendor. A large majority of VITAS’ pharmaceutical and medical supplies purchases are from these vendors. The pharmaceutical and medical supplies purchased by VITAS are available through many providers in the United States. However, a disruption from VITAS’ main service providers could adversely impact VITAS’ operations, including temporary logistical challenges and increased cost associated with getting medication and medical supplies to our patients.

Other Current Liabilities (Schedule Of Other Current Liabilities) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Other Current Liabilities [Abstract]
Percentage of individual amounts of total current liabilities	5.00%
Healthcare worker retention bonus	$ 43,384	$ 19,634
Medicare cap	13,115	14,380
All other	28,210	26,990
Other current liabilities	$ 84,709	$ 61,004

Leases (Components Of Balance Sheet Information Related To Leases) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Operating lease assets	$ 127,215	$ 135,662
Liabilities
Current operating leases	38,779	38,996
Noncurrent operating leases	102,112	110,513
Total operating lease liabilities	$ 140,891	$ 149,509

Earnings Per Share (Schedule Of Computation Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings	$ 53,377	$ 66,456	$ 107,498	$ 130,625
Diluted earnings	$ 53,377	$ 66,456	$ 107,498	$ 130,625
Earnings, Shares	15,058	14,932	15,013	14,959
Dilutive stock options, Shares	115	139	107	152
Nonvested stock awards, Shares	46	40	47	41
Diluted earnings, Shares	15,219	15,111	15,167	15,152
Earnings, Earnings per Share	$ 3.54	$ 4.45	$ 7.16	$ 8.73
Diluted earnings, Earnings per Share	$ 3.51	$ 4.40	$ 7.09	$ 8.62

- 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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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.

+ References

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Financial Instruments (Carrying Value, Fair Value And Hierarchy Of Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments of deferred compensation plans held in trust	$ 99,522	$ 93,196
Long-term debt and current portion of long-term debt		97,500
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	$ 99,522	93,196
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		$ 97,500

Other Assets (Tables)

6 Months Ended

Jun. 30, 2023

Other Assets [Abstract]

Schedule of Other Assets



	June 30,		December 31,
	2023		2022

Deposit with OAS	$	47,756	$	50,274
Cash surrender value life insurance		3,643		3,636
Noncurrent advances and deposits		2,251		2,368
Other long-term receivable		1,747		1,826
Deferred debt costs		1,311		1,703
	$	56,708	$	59,807

Acquisitions

6 Months Ended

Jun. 30, 2023

Acquisitions [Abstract]

Acquisitions

17. Acquisitions

On June 1, 2023 Roto-Rooter completed the acquisition of one franchise in South Carolina for $305,000 in cash.

In 2022, VITAS purchased the hospice assets of one Florida provider for $1.24 million in cash. Roto-Rooter completed the acquisition of three franchises and the related assets in New Jersey for a total of $2.29 million in cash.

Goodwill is assessed for impairment on a yearly basis as of October 1. All goodwill recognized is deductible for tax purposes.

Shown below is movement in Goodwill (in thousands):


	VITAS		Roto-Rooter		Total
Balance at December 31, 2022	$	334,063	$	247,232	$	581,295
Business combinations		-		207		207
Foreign currency adjustments		-		40		40
Balance at June 30, 2023	$	334,063	$	247,479	$	581,542

Leases (Components Of Cash Flow Information Related To Leases) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from leases	$ 25,055	$ 25,173
Leased assets obtained in exchange for new operating lease liabilities	$ 14,340	$ 27,589
Weighted Average Remaining Lease Term, Operating leases	4 years 5 months 15 days
Weighted Average Discount Rate, Operating leases	2.77%

Other Assets (Schedule Of Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other Assets [Abstract]
Deposit with OAS	$ 47,756	$ 50,274
Cash surrender value life insurance	3,643	3,636
Noncurrent advances and deposits	2,251	2,368
Other long-term receivable	1,747	1,826
Deferred debt costs	1,311	1,703
Other assets	$ 56,708	$ 59,807

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities
Net income	$ 107,498	$ 130,625
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	29,947	29,890
Stock option expense	16,882	14,667
Noncash long-term incentive compensation	3,493	2,497
Benefit for deferred income taxes	(1,932)	(2,129)
Noncash directors' compensation	1,444	1,170
Amortization of debt issuance costs	420	153
Changes in operating assets and liabilities:
Decrease in accounts receivable	20,100	887
Increase in inventories	(1,412)	(587)
Decrease in prepaid expenses	1,719	3,689
Increase/(decrease) in accounts payable and other current liabilities	8,561	(24,001)
Change in current income taxes	1,865	27
Net change in lease assets and liabilities	(1,046)	705
(Increase)/decrease in other assets	(3,810)	2,071
Increase/(decrease) in other liabilities	7,344	(1,491)
Other sources/(uses)	1,736	(503)
Net cash provided by operating activities	192,809	157,670
Cash Flows from Investing Activities
Capital expenditures	(33,420)	(25,610)
Proceeds from sale of fixed assets	360	1,757
Business combinations, net of cash acquired	(305)	(1,650)
Other uses	(169)	(132)
Net cash used by investing activities	(33,534)	(25,635)
Cash Flows from Financing Activities
Payments on other long-term debt	(97,500)
Proceeds from other long-term debt		100,000
Proceeds from exercise of stock options	53,675	12,869
Purchases of treasury stock	(13,425)	(77,214)
Dividends paid	(11,412)	(10,722)
Capital stock surrendered to pay taxes on stock-based compensation	(5,313)	(12,115)
Payments on revolving line of credit		(263,300)
Proceeds from revolving line of credit		95,100
Change in cash overdraft payable		1,716
Debt issuance costs		(1,510)
Other sources/(uses)	498	(114)
Net cash used by financing activities	(73,477)	(155,290)
Increase/(Decrease) in Cash and Cash Equivalents	85,798	(23,255)
Cash and cash equivalents at beginning of period	74,126	32,895
Cash and cash equivalents at end of period	$ 159,924	$ 9,640

Retirement Plans

6 Months Ended

Jun. 30, 2023

Retirement Plans [Abstract]

Retirement Plans

9. Retirement Plans

All of the Company’s plans that provide retirement and similar benefits are defined contribution plans. These expenses include the impact of market gains and losses on assets held in deferred compensation plans and are recorded in selling, general and administrative expenses. Net gains for the Company’s retirement and profit-sharing plans, excess benefit plans and other similar plans are as follows (in thousands):



Three months ended June 30,				Six months ended June 30,
2023		2022		2023		2022
$	5,550	$	639	$	11,424	$	3,556

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
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-Paragraph 1
-Subparagraph (o)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 70
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI https://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
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-URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-Subparagraph (d)(iv)(03)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (q)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

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

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Lease Expense

Operating lease expense

^[1]

$ 14,944

$ 13,249

$ 29,813

$ 26,300

Sublease income

^[1]

(23)

(45)

(46)

(91)

Net lease expense

^[1]

$ 14,921

$ 13,204

$ 29,767

$ 26,209

[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.

Other Assets

6 Months Ended

Jun. 30, 2023

Other Assets [Abstract]

Other Assets

13. Other Assets

Other assets comprise the following (in thousands):



	June 30,		December 31,
	2023		2022

Deposit with OAS	$	47,756	$	50,274
Cash surrender value life insurance		3,643		3,636
Noncurrent advances and deposits		2,251		2,368
Other long-term receivable		1,747		1,826
Deferred debt costs		1,311		1,703
	$	56,708	$	59,807

Long-Term Debt And Lines of Credit (Financial Debt Covenants) (Details)	6 Months Ended
	Jun. 30, 2023
Minimum [Member]
Debt Instrument [Line Items]
Leverage Ratio (Consolidated Indebtedness/Consolidated Adj. EBITDA), Requirement	1.00
Interest Coverage Ratio (Consolidated Adj. EBITDA/Consolidated Interest Expense)	1.00
Maximum [Member]
Debt Instrument [Line Items]
Leverage Ratio (Consolidated Indebtedness/Consolidated Adj. EBITDA), Requirement	3.50
Interest Coverage Ratio (Consolidated Adj. EBITDA/Consolidated Interest Expense)	3.00

Revenue Recognition (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
Revenue Recognition (Narrative) (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue Recognition [line items]
Charity care cost	$ 2,200,000	$ 1,900,000	$ 4,200,000	$ 4,000,000.0
Service revenue and sales	$ 553,816,000	$ 531,288,000	$ 1,113,973,000	$ 1,061,837,000
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 penalty			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
Percentage of medicaid reimbursement			95.00%
Percentage of expenses			5.00%
Service revenue and sales			$ 0
Accounts Receivable, Sale			$ 0
VITAS [Member] \| Adoption of ASC 606 [Member]
Revenue Recognition [line items]
Percentage of expenses			5.00%
VITAS [Member] \| Maximum [Member]
Revenue Recognition [line items]
Inpatient cap percentage			20.00%

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
Earnings Per Share (Narrative) (Details) - shares	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Excluded stock options, Anti-dilutive	311,335	596,000	311,335	596,000

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

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 June 30, 2023 (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	$	99,522	$	99,522	$	-	$	-

The following shows the carrying value, fair value and the hierarchy for our financial instruments as of December 31, 2022 (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	$	93,196	$	93,196	$	-	$	-
Long-term debt and current portion of long-term debt		97,500		-		97,500		-

Segments (Tables)

6 Months Ended

Jun. 30, 2023

Segments [Abstract]

Segment Data



	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
VITAS	$	26,128	$	35,212	$	50,892	$	71,694
Roto-Rooter		44,374		47,072		92,027		91,009
Total		70,502		82,284		142,919		162,703
Corporate		(17,125)		(15,828)		(35,421)		(32,078)
Net income	$	53,377	$	66,456	$	107,498	$	130,625