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LHC Group, Inc. – ‘10-Q’ for 3/31/21 – ‘R15’

On:  Thursday, 5/6/21, at 4:27pm ET   ·   For:  3/31/21   ·   Accession #:  1303313-21-48   ·   File #:  1-33989

Previous ‘10-Q’:  ‘10-Q’ on 11/5/20 for 9/30/20   ·   Next:  ‘10-Q’ on 8/5/21 for 6/30/21   ·   Latest:  ‘10-Q’ on 11/3/22 for 9/30/22   ·   4 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 5/06/21  LHC Group, Inc.                   10-Q        3/31/21   60:5.9M

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    697K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     22K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     22K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     19K 
11: R1          Cover page                                          HTML     70K 
12: R2          Condensed Consolidated Balance Sheets               HTML    139K 
13: R3          Condensed Consolidated Balance Sheets               HTML     42K 
                (Parenthetical)                                                  
14: R4          Condensed Consolidated Statements of Income         HTML     88K 
15: R5          Condensed Consolidated Statements of Changes in     HTML     78K 
                Equity                                                           
16: R6          Condensed Consolidated Statements of Cash Flows     HTML    122K 
17: R7          Basis of Presentation and Significant Events        HTML     30K 
18: R8          Significant Accounting Policies                     HTML     72K 
19: R9          Divestiture and Joint Venture Activities            HTML     21K 
20: R10         Goodwill and Intangibles                            HTML     80K 
21: R11         Debt                                                HTML     23K 
22: R12         Stockholder's Equity                                HTML     41K 
23: R13         Commitments and Contingencies                       HTML     25K 
24: R14         Noncontrolling interests                            HTML     29K 
25: R15         Leases                                              HTML     40K 
26: R16         Fair Value of Financial Instruments                 HTML     21K 
27: R17         Segment Information                                 HTML    103K 
28: R18         Income Taxes                                        HTML     23K 
29: R19         Significant Accounting Policies (Policies)          HTML     52K 
30: R20         Significant Accounting Policies (Tables)            HTML     53K 
31: R21         Goodwill and Intangibles (Tables)                   HTML    112K 
32: R22         Stockholder's Equity (Tables)                       HTML     37K 
33: R23         Noncontrolling interests (Tables)                   HTML     23K 
34: R24         Leases (Tables)                                     HTML     42K 
35: R25         Segment Information (Tables)                        HTML     99K 
36: R26         Basis of Presentation and Significant Events -      HTML     23K 
                Organization (Details)                                           
37: R27         Basis of Presentation and Significant Events -      HTML     42K 
                COVID-19 (Details)                                               
38: R28         Significant Accounting Policies - Percentage of     HTML     43K 
                Net Service Revenue Earned by Category of Payor                  
                (Details)                                                        
39: R29         Significant Accounting Policies - Additional        HTML     42K 
                Information (Details)                                            
40: R30         Significant Accounting Policies - Shares Used in    HTML     28K 
                Computation of Basic and Diluted Per Share                       
                Information (Details)                                            
41: R31         Divestiture and Joint Venture Activities (Details)  HTML     27K 
42: R32         Goodwill and Intangibles - Schedule of Changes in   HTML     53K 
                Recorded Goodwill by Reporting Unit (Details)                    
43: R33         Goodwill and Intangibles - Additional Information   HTML     36K 
                (Details)                                                        
44: R34         Goodwill and Intangibles - Summary of Changes in    HTML     44K 
                Intangible Assets (Details)                                      
45: R35         Debt - Additional Information (Details)             HTML     54K 
46: R36         Stockholder's Equity - Additional Information       HTML     62K 
                (Details)                                                        
47: R37         Stockholder's Equity - Nonvested Stock Activity     HTML     55K 
                (Details)                                                        
48: R38         Stockholder's Equity - Shares of Common Stock       HTML     24K 
                Issued Under Employee Stock Purchase Plan                        
                (Details)                                                        
49: R39         Commitments and Contingencies - Additional          HTML     21K 
                Information (Details)                                            
50: R40         Noncontrolling interests - Summary of Activity of   HTML     25K 
                Noncontrolling Interest-Redeemable (Details)                     
51: R41         Leases (Details)                                    HTML     24K 
52: R42         Leases - Right of Use and Liabilities (Details)     HTML     23K 
53: R43         Leases - Lease Cost (Details)                       HTML     26K 
54: R44         Leases - Lease Maturities (Details)                 HTML     33K 
55: R45         Segment Information - Summary of segment            HTML     98K 
                Information (Details)                                            
56: R46         Income Taxes - Additional Information (Details)     HTML     22K 
58: XML         IDEA XML File -- Filing Summary                      XML    103K 
10: XML         XBRL Instance -- lhcg-20210331_htm                   XML   1.42M 
57: EXCEL       IDEA Workbook of Financial Reports                  XLSX     74K 
 6: EX-101.CAL  XBRL Calculations -- lhcg-20210331_cal               XML    183K 
 7: EX-101.DEF  XBRL Definitions -- lhcg-20210331_def                XML    351K 
 8: EX-101.LAB  XBRL Labels -- lhcg-20210331_lab                     XML   1.20M 
 9: EX-101.PRE  XBRL Presentations -- lhcg-20210331_pre              XML    664K 
 5: EX-101.SCH  XBRL Schema -- lhcg-20210331                         XSD    121K 
59: JSON        XBRL Instance as JSON Data -- MetaLinks              284±   403K 
60: ZIP         XBRL Zipped Folder -- 0001303313-21-000048-xbrl      Zip    219K

‘R15’   —   Leases

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.21.1
Leases
 3 Months Ended
Leases [Abstract]  
Leases Leases
The Company determines if a contract contains a lease at inception date. The Company's leases are operating leases, primarily for office and office equipment, that expire at various dates over the next five years. The facility based leases have renewal options for periods ranging from one to nine years. As it is not reasonably certain these renewal options will be exercised, the options were not considered in the lease term, and payments associated with the option years are excluded from lease payments.

Payments due under operating leases include fixed and variable payments. These variable payments for the Company's office leases can include operating expenses, utilities, property taxes, insurance, common area maintenance, and other facility-related expense. Additionally, any leases with terms less than one year were not recognized as operating lease right of use assets or payables for short term leases in accordance with the election of ‘package of practical expedient’ under ASU 2016-02.

The Company recognizes operating lease right of use assets and operating lease payable based on the present value of the future minimum lease payments at the lease commencement date. The Company's leases do not provide implicit rates. Therefore, the Company used an incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future payments. As of March 31, 2021, the weighted-average remaining lease term was 4.10 and weighted-average discount rate was 4.42%.

The following table summarizes the operating lease right of use assets and related lease payables in our condensed consolidated balance sheets at March 31, 2021 and December 31, 2020 (amounts in thousands):
March 31, 2021December 31, 2020
Operating lease right of use asset101,193 100,046 
Current operating lease liabilities32,627 32,676 
Long-term operating lease liabilities71,431 70,275 

The components of lease costs for operating leases for the three months ended March 31, 2021 and 2020 were as follows (amounts in thousands):
Three months ended March 31,
20212020
Operating lease cost $12,190 $11,348 
Short-term lease cost855 760 
Variable lease cost1,013 982 
Total lease costs$14,058 $13,090 

Maturities of operating lease liabilities as of March 31, 2021 were as follows (amounts in thousands):
Month ending March 31,
2021$28,148 
202230,115 
202321,877 
202414,296 
Thereafter19,168 
  Total future minimum lease payments113,604 
Less: Imputed interest(9,546)
  Total$104,058 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:5/6/218-K
For Period end:3/31/21
12/31/2010-K
3/31/2010-Q
 List all Filings 

1 Subsequent Filing that References this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/21/21  LHC Group, Inc.                   S-3ASR      5/21/21    4:544K                                   Donnelley … Solutions/FA

3 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/02/18  LHC Group, Inc.                   8-K:1,2,5,8 3/29/18    5:776K                                   Donnelley … Solutions/FA
 5/09/08  LHC Group, Inc.                   10-Q        3/31/08    5:378K                                   Bowne of Atlanta Inc./FA
 2/14/05  LHC Group, Inc.                   S-1/A¶                14:2.3M                                   Bowne of Atlanta Inc./FA
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Filing Submission 0001303313-21-000048   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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