CHEMED CORP

For the period ended Dec 31, 2024. Filed Feb 28, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 28, 2025

CHE$544.49+1.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Unaudited Consolidating Statements of Income

CHEMED CORPORATION AND SUBSIDIARY COMPANIES
UNAUDITED CONSOLIDATING STATEMENTS OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 2024
(in thousands)(unaudited)
Roto- · Chemed
VITAS · Rooter · Corporate · Consolidated
Service revenues and sales		$1,530,978		$900,309	$	-	$2,431,287
Cost of services provided and goods sold		1,146,803		430,136		-	1,576,939
Selling, general and administrative expenses		99,564		232,852		91,944	424,360
Depreciation		20,362		32,452		50	52,864
Amortization		105		10,080		-	10,185
Other operating expenses		178		268		-	446
Total costs and expenses		1,267,012		705,788		91,994	2,064,794
Income/(loss) from operations		263,966		194,521		(91,994)	366,493
Interest expense		(171)		(431)		(1,178)	(1,780)
Intercompany interest income/(expense)		20,211		14,397		(34,608)	-
Other income—net		227		69		34,456	34,752
Income/(loss) before income taxes (a)		284,233		208,556		(93,324)	399,465
Income taxes		(67,414)		(48,510)		18,458	(97,466)
Net income/(loss) (a)		$216,819		$160,046		$(74,866)	$301,999
(a) The following amounts are included in income from continuing operations (in thousands):
Roto- · Chemed
VITAS · Rooter · Corporate · Consolidated
Pretax benefit/(cost):
Stock option expense	$	-	$	-		$(32,033)	$(32,033)
Long-term incentive compensation		-		-		(14,815)	(14,815)
Amortization of reacquired franchise agreements		-		(9,408)		-	(9,408)
Severance arrangement		-		-		(5,337)	(5,337)
Acquisition expense		(1,099)		(34)			(1,133)
Total		$(1,099)		$(9,442)		$(52,185)	$(62,726)
Roto- · Chemed
VITAS · Rooter · Corporate · Consolidated
After-tax benefit/(cost):
Stock option expense	$	-	$	-		$(27,053)	$(27,053)
Long-term incentive compensation		-		-		(13,167)	(13,167)
Amortization of reacquired franchise agreements		-		(7,216)		-	(7,216)
Severance arrangement		-		-		(5,337)	(5,337)
Acquisition expense		(832)		(26)		-	(858)
Excess tax benefits on stock compensation		-		-		4,442	4,442
Total		$(832)		$(7,242)		$(41,115)	$(49,189)

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CHEMED CORPORATION AND SUBSIDIARY COMPANIES
UNAUDITED CONSOLIDATING STATEMENTS OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 2023
(in thousands)(unaudited)
Roto- · Chemed
VITAS · Rooter · Corporate · Consolidated
Service revenues and sales		$1,315,065		$949,352	$	-	$2,264,417
Cost of services provided and goods sold		1,017,623		447,979		-	1,465,602
Selling, general and administrative expenses		93,296		231,587		70,237	395,120
Depreciation		19,959		30,790		53	50,802
Amortization		104		9,959		-	10,063
Other operating expenses/(income)		(12)		2,273		-	2,261
Total costs and expenses		1,130,970		722,588		70,290	1,923,848
Income/(loss) from operations		184,095		226,764		(70,290)	340,569
Interest expense		(180)		(442)		(2,486)	(3,108)
Intercompany interest income/(expense)		19,400		11,918		(31,318)	-
Other income—net		1,309		126		11,471	12,906
Income/(loss) before income taxes (a)		204,624		238,366		(92,623)	350,367
Income taxes		(46,115)		(50,125)		18,382	(77,858)
Net income/(loss) (a)		$158,509		$188,241		$(74,241)	$272,509
(a) The following amounts are included in income from continuing operations (in thousands):
Roto- · Chemed
VITAS · Rooter · Corporate · Consolidated
Pretax benefit/(cost):
Stock option expense	$	-	$	-		$(30,082)	$(30,082)
Long-term incentive compensation		-		-		(11,689)	(11,689)
Amortization of reacquired franchise agreements		-		(9,408)		-	(9,408)
Litigation settlements		-		(2,056)		-	(2,056)
Total	$	-		$(11,464)		$(41,771)	$(53,235)
Roto- · Chemed
VITAS · Rooter · Corporate · Consolidated
After-tax benefit/(cost):
Stock option expense	$	-	$	-		$(25,405)	$(25,405)
Long-term incentive compensation		-		-		(10,379)	(10,379)
Amortization of reacquired franchise agreements		-		(7,216)		-	(7,216)
Impact of deferred rate tax change		1,772		3,559		(1,090)	4,241
Litigation settlements		-		(1,577)		-	(1,577)
Excess tax benefits on stock compensation		-		-		4,330	4,330
Total		$1,772		$(5,234)		$(32,544)	$(36,006)

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CHEMED CORPORATION AND SUBSIDIARY COMPANIES
UNAUDITED CONSOLIDATING STATEMENTS OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 2022
(in thousands)(unaudited)
Roto- · Chemed
VITAS · Rooter · Corporate · Consolidated
Service revenues and sales		$1,201,564		$933,399	$	-	$2,134,963
Cost of services provided and goods sold		931,861		438,016		-	1,369,877
Selling, general and administrative expenses		89,187		222,257		47,283	358,727
Depreciation		21,955		27,075		72	49,102
Amortization		101		9,969		-	10,070
Other operating expenses		3,337		354		-	3,691
Total costs and expenses		1,046,441		697,671		47,355	1,791,467
Income/(loss) from operations		155,123		235,728		(47,355)	343,496
Interest expense		(172)		(396)		(4,016)	(4,584)
Intercompany interest income/(expense)		18,901		9,345		(28,246)	-
Other (expense)/income—net		600		138		(9,971)	(9,233)
Income/(loss) before income taxes (a)		174,452		244,815		(89,588)	329,679
Income taxes		(43,000)		(58,695)		21,640	(80,055)
Net income/(loss) (a)		$131,452		$186,120		$(67,948)	$249,624
(a) The following amounts are included in income from continuing operations (in thousands):
Roto- · Chemed
VITAS · Rooter · Corporate · Consolidated
Pretax benefit/(cost):
Stock option expense	$	-	$	-		$(26,254)	$(26,254)
Amortization of reacquired franchise agreements		-		(9,408)		-	(9,408)
Long-term incentive compensation		-		-		(7,801)	(7,801)
Litigation settlements		(4,000)		-		-	(4,000)
Direct costs related to Covid-19		(310)		(988)		(89)	(1,387)
Medicare cap sequestration adjustment		(138)		-		-	(138)
Total		$(4,448)		$(10,396)		$(34,144)	$(48,988)
Roto- · Chemed
VITAS · Rooter · Corporate · Consolidated
After-tax benefit/(cost):
Stock option expense	$	-	$	-		$(22,028)	$(22,028)
Amortization of reacquired franchise agreements		-		(6,915)		-	(6,915)
Long-term incentive compensation		-		-		(6,858)	(6,858)
Excess tax benefits on stock compensation		-		-		5,928	5,928
Litigation settlements		(2,984)		-		-	(2,984)
Direct costs related to Covid-19		(231)		(726)		(68)	(1,025)
Medicare cap sequestration adjustment		(103)		-		-	(103)
Total		$(3,318)		$(7,641)		$(23,026)	$(33,985)

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.