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AMEDISYS REPORTS FOURTH QUARTER AND YEAR END 2024 FINANCIAL RESULTS

BATON ROUGE, Louisiana (February 26, 2025) — Amedisys, Inc. (NASDAQ: AMED) today reported its financial results for the three-month period and year ended December 31, 2024.
Three-Month Periods Ended December 31, 2024 and 2023

•Net service revenue increased $27.3 million to $598.1 million compared to $570.8 million in 2023.
•Net loss attributable to Amedisys, Inc. of $20.4 million, which is inclusive of merger-related expenses totaling $17.4 million ($15.9 million, net of tax) and a non-cash goodwill and other intangibles impairment charge totaling $48.4 million ($38.4 million, net of noncontrolling interest and tax) compared to net income attributable to Amedisys, Inc. of $19.3 million, which is inclusive of merger-related expenses totaling $11.5 million ($9.6 million, net of tax) in 2023.
•Net loss attributable to Amedisys, Inc. per diluted share of $0.62 compared to net income attributable to Amedisys, Inc. per diluted share of $0.59 in 2023.

Adjusted Quarterly Results*

•Adjusted EBITDA of $54.6 million compared to $56.7 million in 2023.
•Adjusted net income attributable to Amedisys, Inc. of $32.0 million compared to $30.8 million in 2023.
•Adjusted net income attributable to Amedisys, Inc. per diluted share of $0.96 compared to $0.94 in 2023.

Years Ended December 31, 2024 and 2023

•Net service revenue increased $111.9 million to $2,348.3 million compared to $2,236.4 million in 2023.
•Net income attributable to Amedisys, Inc. of $43.2 million, which is inclusive of merger-related expenses totaling $66.6 million ($64.0 million, net of tax) and a non-cash goodwill and other intangibles impairment charge totaling $48.4 million ($38.4 million, net of noncontrolling interest and tax) compared to net loss attributable to Amedisys, Inc. of $9.7 million, which is inclusive of merger-related expenses totaling $142.7 million ($140.5 million, net of tax) in 2023.
•Net income attributable to Amedisys, Inc. per diluted share of $1.31 compared to net loss attributable to Amedisys, Inc. per diluted share of $0.30 in 2023.

Adjusted Year End Results*

•Adjusted EBITDA of $245.8 million compared to $247.0 million in 2023.
•Adjusted net income attributable to Amedisys, Inc. of $142.7 million compared to $140.6 million in 2023.
•Adjusted net income attributable to Amedisys, Inc. per diluted share of $4.32 compared to $4.30 in 2023.



* See pages 2 and 13 - 14 for the definition and reconciliations of non-GAAP financial measures to GAAP measures.
The supplemental slides provided in connection with the fourth quarter and year end 2024 earnings release can be found on the Investor Relations page of our website. In light of the pending merger of the Company with UnitedHealth Group Incorporated, Amedisys will not conduct a quarterly earnings call to discuss the fourth quarter and year end results.
1

Non-GAAP Financial Measures
This press release includes reconciliations of the most comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the U.S. (“GAAP”) to non-GAAP financial measures. The non-GAAP financial measures as defined under SEC rules are as follows: (1) adjusted EBITDA, defined as net (loss) income attributable to Amedisys, Inc. before net interest expense, provision for income taxes and depreciation and amortization, excluding certain items; (2) adjusted net income attributable to Amedisys, Inc., defined as net (loss) income attributable to Amedisys, Inc. calculated in accordance with GAAP excluding certain items; and (3) adjusted net income attributable to Amedisys, Inc. per diluted share, defined as net (loss) income attributable to Amedisys, Inc. common stockholders per diluted share calculated in accordance with GAAP excluding certain items. Certain items include merger-related expenses, impairment charges, acquisition and integration costs, unusual or non-recurring expenses and certain non-operational items. Management believes that these non-GAAP financial measures, when reviewed in conjunction with GAAP financial measures, are useful gauges of our current performance and are also included in internal management reporting. These non-GAAP financial measures should be considered in addition to, and not more meaningful than or as an alternative to, the GAAP financial measures presented in this earnings release and the company’s financial statements. Non-GAAP measures as presented herein may not be comparable to similarly titled measures reported by other companies since not all companies calculate these non-GAAP measures consistently.
Additional Information
Amedisys, Inc. (the “Company”) is a leading healthcare services company, delivering personalized home health, hospice and high acuity care services in the home. Amedisys is focused on delivering the care that is best for our patients, whether that is home-based recovery and rehabilitation after an operation or injury, care focused on empowering our patients to manage a chronic disease, hospice care at the end of life or in-patient hospital, palliative and skilled nursing facility ("SNF") care in their homes. More than 3,300 hospitals and 114,000 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company. With approximately 19,000 employees in 519 care centers within 38 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 499,000 patients every year. For more information about the Company, please visit: www.amedisys.com.
We use our website as a channel of distribution for important company information. Important information, including press releases, investor presentations and financial information regarding our company, is routinely posted on and accessible on the Investor Relations subpage of our website, which is accessible by clicking on the tab labeled “Investors” on our website home page. Visitors to our website can also register to receive automatic e-mail and other notifications alerting them when new information is made available on the Investor Relations subpage of our website.
2

Forward-Looking Statements
When included in this press release, words like “believes,” “belief,” “expects,” “strategy,” “plans,” “anticipates,” “intends,” “projects,” “estimates,” “may,” “might,” “will,” “could,” “would,” “should” and similar expressions are intended to identify forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a variety of risks and uncertainties that could cause actual results to differ materially from those described therein. These risks and uncertainties include, but are not limited to, the following: disruption from the proposed merger with UnitedHealth Group with patient, payor, provider, referral source, supplier or management and employee relationships; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement with UnitedHealth Group or the inability to complete the proposed transaction on the anticipated terms or by the outside date under the merger agreement; the risk that necessary regulatory approvals for the proposed merger with UnitedHealth Group are delayed, are not obtained or are obtained subject to conditions that are not anticipated; the failure of the conditions to the proposed merger to be satisfied; the costs related to the proposed transaction; the diversion of management time on merger-related issues; the risk that termination fees may be payable by the Company in the event that the merger agreement is terminated under certain circumstances; reputational risk related to the proposed merger; the risk of litigation or regulatory action related to the proposed merger, including among other things, the action by the Department of Justice to block the merger; changes in Medicare and other medical payment levels; changes in payments and covered services by federal and state governments; future cost containment initiatives undertaken by third-party payors; changes in the episodic versus non-episodic mix of our payors, the case mix of our patients and payment methodologies; staffing shortages driven by the competitive labor market; our ability to attract and retain qualified personnel; competition in the healthcare industry; our ability to maintain or establish new patient referral sources; changes in or our failure to comply with existing federal and state laws or regulations or the inability to comply with new government regulations on a timely basis; changes in estimates and judgments associated with critical accounting policies; our ability to consistently provide high-quality care; our ability to keep our patients and employees safe; our access to financing; our ability to meet debt service requirements and comply with covenants in debt agreements; business disruptions due to natural or man-made disasters, climate change or acts of terrorism, widespread protests or civil unrest; our ability to open care centers, acquire additional care centers and integrate and operate these care centers effectively; our ability to realize the anticipated benefits of acquisitions, investments and joint ventures; our ability to integrate, manage and keep our information systems secure; the impact of inflation; the impact of new or increased tariffs; uncertainty around, and disruption from, new and emerging technologies, including the adoption and utilization of artificial intelligence ("AI") and generative AI and changes in laws or developments with respect to any litigation relating to the Company, including various other matters, many of which are beyond our control.
Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on any forward-looking statement as a prediction of future events. We expressly disclaim any obligation or undertaking, and we do not intend to release publicly any updates or changes in our expectations concerning the forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based, except as required by law.

Contact:    Investor Contact:                Media Contact:            
Amedisys, Inc.                    Amedisys, Inc.
        Nick Muscato                    Kendra Kimmons
        Chief Strategy Officer             Vice President, Marketing & Communications
    (615) 928- 5452                    (225) 299-3720
        IR@amedisys.com             kendra.kimmons@amedisys.com
    

3

AMEDISYS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data)

 For the Three-Month 
Periods Ended December 31,		For the Years Ended December 31,
 2024202320242023
Net service revenue$598,052 $570,788 $2,348,324 $2,236,382 
Operating expenses:
Cost of service, inclusive of depreciation344,614 321,416 1,330,647 1,245,509 
General and administrative expenses:
Salaries and benefits137,646 135,123 529,748 516,049 
Non-cash compensation7,041 7,114 29,028 26,082 
Merger-related expenses17,401 11,521 66,638 36,672 
Depreciation and amortization4,566 4,143 17,997 17,747 
Impairment48,391 — 48,391 — 
Other58,017 57,462 231,337 237,929 
Total operating expenses617,676 536,779 2,253,786 2,079,988 
Operating (loss) income(19,624)34,009 94,538 156,394 
Other income (expense):
Interest income2,749 818 8,110 3,270 
Interest expense(6,978)(8,234)(30,764)(31,274)
Equity in earnings from equity method investments1,951 1,394 6,267 10,760 
Merger termination fee— — — (106,000)
Miscellaneous, net2,674 1,211 8,065 6,473 
Total other income (expense), net396 (4,811)(8,322)(116,771)
(Loss) income before income taxes(19,228)29,198 86,216 39,623 
Income tax expense(6,291)(10,178)(48,054)(50,559)
Net (loss) income(25,519)19,020 38,162 (10,936)
Net loss attributable to noncontrolling interests5,138 302 5,069 1,189 
Net (loss) income attributable to Amedisys, Inc.$(20,381)$19,322 $43,231 $(9,747)
Basic earnings per common share:
Net (loss) income attributable to Amedisys, Inc. common stockholders$(0.62)$0.59 $1.32 $(0.30)
Weighted average shares outstanding32,751 32,635 32,718 32,599 
Diluted earnings per common share:
Net (loss) income attributable to Amedisys, Inc. common stockholders$(0.62)$0.59 $1.31 $(0.30)
Weighted average shares outstanding32,751 32,913 33,051 32,599 

4

AMEDISYS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except share data)
As of December 31,
20242023
ASSETS
Current assets:
Cash and cash equivalents$303,242 $126,450 
Restricted cash— 12,413 
Patient accounts receivable296,075 313,373 
Prepaid expenses13,072 14,639 
Other current assets19,694 30,060 
Total current assets632,083 496,935 
Property and equipment, net of accumulated depreciation of $100,890 and $92,42242,108 41,845 
Operating lease right of use assets81,500 88,939 
Goodwill1,213,888 1,244,679 
Intangible assets, net of accumulated amortization of $18,787 and $14,00881,155 102,675 
Other assets87,980 85,097 
Total assets$2,138,714 $2,060,170 
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable$39,956 $28,237 
Payroll and employee benefits151,995 136,835 
Accrued expenses152,564 140,049 
Termination fee paid by UnitedHealth Group106,000 106,000 
Current portion of long-term obligations37,968 36,314 
Current portion of operating lease liabilities25,909 26,286 
Total current liabilities514,392 473,721 
Long-term obligations, less current portion339,313 361,862 
Operating lease liabilities, less current portion56,111 62,751 
Deferred income tax liabilities48,051 40,635 
Other long-term obligations882 1,418 
Total liabilities958,749 940,387 
Equity:
Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued or outstanding
— — 
Common stock, $0.001 par value, 60,000,000 shares authorized; 38,307,521 and 38,131,478 shares issued; and 32,776,148 and 32,667,631 shares outstanding
38 38 
Additional paid-in capital818,201 787,177 
Treasury stock at cost, 5,531,373 and 5,463,847 shares of common stock
(474,854)(468,626)
Retained earnings791,156 747,925 
Total Amedisys, Inc. stockholders’ equity1,134,541 1,066,514 
Noncontrolling interests45,424 53,269 
Total equity1,179,965 1,119,783 
Total liabilities and equity$2,138,714 $2,060,170 


5

AMEDISYS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS AND DAYS REVENUE OUTSTANDING
(Amounts in thousands, except statistical information)
 For the Three-Month 
Periods Ended December 31,		For the Years Ended December 31,
 2024202320242023
Cash Flows from Operating Activities:
Net (loss) income$(25,519)$19,020 $38,162 $(10,936)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization (inclusive of depreciation included in cost of service)6,708 5,891 26,039 23,847 
Non-cash compensation8,249 9,400 30,639 29,024 
Amortization and impairment of operating lease right of use assets8,702 8,569 34,422 33,996 
(Gain) loss on disposal of property and equipment(6)(27)(28)319 
Gain on deconsolidation of joint venture(1,626)— (1,626)— 
Deferred income taxes34 5,238 7,416 20,655 
Loss on personal care divestiture— — — 2,186 
Merger termination fee— — — 106,000 
Equity in earnings from equity method investments(1,951)(1,394)(6,267)(10,760)
Amortization of deferred debt issuance costs248 248 991 991 
Return on equity method investments1,471 764 3,631 5,073 
Impairment48,391 — 48,391 — 
Changes in operating assets and liabilities, net of impact of acquisitions:
Patient accounts receivable4,974 6,207 16,477 (26,727)
Other current assets458 8,796 11,700 (6,638)
Operating lease right of use assets(1,061)(983)(4,196)(3,786)
Other assets146 (84)744 189 
Accounts payable8,043 (6,977)12,210 (15,816)
Accrued expenses20,571 13,354 33,066 23,694 
Other long-term obligations(4)(234)(536)(3,390)
Operating lease liabilities(7,551)(7,477)(29,570)(30,733)
Net cash provided by operating activities70,277 60,311 221,665 137,188 
Cash Flows from Investing Activities:
Proceeds from the sale of deferred compensation plan assets34 29 55 54 
Proceeds from the sale of property and equipment— 36 — 136 
Purchases of property and equipment(1,110)(1,892)(6,550)(5,620)
Investments in technology assets(204)(212)(823)(7,093)
Investments in equity method investees— — (1,046)— 
Return of investment— — — 150 
Proceeds from personal care divestiture— — — 47,787 
Acquisitions of businesses, net of cash acquired— — — (350)
Net cash (used in) provided by investing activities(1,280)(2,039)(8,364)35,064 
Cash Flows from Financing Activities:
Proceeds from issuance of stock upon exercise of stock options221 — 309 100 
Proceeds from issuance of stock under employee stock purchase plan— — — 2,602 
Shares withheld to pay taxes on non-cash compensation(1,312)(2,116)(6,152)(6,529)
Noncontrolling interest contributions301 220 2,212 1,452 
Noncontrolling interest distributions(788)(259)(3,362)(1,873)
Purchase of noncontrolling interest— — — (800)
Proceeds from borrowings under revolving line of credit— — — 23,000 
Repayments of borrowings under revolving line of credit — — — (23,000)
Principal payments of long-term obligations(9,627)(8,900)(37,357)(76,013)
Payment of accrued contingent consideration— (2,370)(4,572)(6,461)
Net cash used in financing activities(11,205)(13,425)(48,922)(87,522)
Net increase in cash, cash equivalents and restricted cash57,792 44,847 164,379 84,730 
Cash, cash equivalents and restricted cash at beginning of period245,450 94,016 138,863 54,133 
Cash, cash equivalents and restricted cash at end of period$303,242 $138,863 $303,242 $138,863 
6

For the Three-Month 
Periods Ended December 31,		For the Years Ended December 31,
2024202320242023
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest$6,769 $7,888 $29,989 $29,766 
Cash paid for income taxes, net of refunds received$12,102 $4,809 $40,095 $29,127 
Days revenue outstanding (1)43.0 47.7 43.0 47.7 
(1) Our calculation of days revenue outstanding at December 31, 2024 and 2023 is derived by dividing our ending patient accounts receivable by our average daily patient revenue for the three-month periods ended December 31, 2024 and 2023, respectively.
7

AMEDISYS, INC. AND SUBSIDIARIES
SEGMENT INFORMATION
(Amounts in millions, except statistical information)
(Unaudited)
Segment Information - Home Health
 For the Three-Month Periods
Ended December 31,
 20242023
Financial Information (in millions):
Medicare$212.4 $221.1 
Non-Medicare164.6 137.8 
Net service revenue377.0 358.9 
Cost of service, inclusive of depreciation226.3 208.0 
Gross margin150.7 150.9 
General and administrative expenses95.5 92.8 
Depreciation and amortization2.0 1.9 
Operating income$53.2 $56.2 
Same Store Growth(1):
Medicare revenue(4 %)(1 %)
Non-Medicare revenue19 %15 %
Total admissions8 %7 %
Total volume(2)
7 %5 %
Key Statistical Data - Total(3):
Admissions109,686 101,809 
Recertifications47,051 44,893 
Total volume156,737 146,702 
Medicare completed episodes72,173 73,892 
Average Medicare revenue per completed episode(4)
$3,030 $2,997 
Medicare visits per completed episode(5)
12.0 12.2 
Visiting clinician cost per visit$111.75 $108.64 
Clinical manager cost per visit13.13 12.12 
Total cost per visit$124.88 $120.76 
Visits1,812,048 1,721,985 
8

 For the Years
Ended December 31,
 20242023
Financial Information (in millions):
Medicare$856.4 $874.2 
Non-Medicare634.1 529.4 
Net service revenue1,490.5 1,403.6 
Cost of service, inclusive of depreciation874.9 801.1 
Gross margin615.6 602.5 
General and administrative expenses372.2 363.5 
Depreciation and amortization7.8 6.0 
Operating income$235.6 $233.0 
Same Store Growth(1):
Medicare revenue(2 %)(3 %)
Non-Medicare revenue20 %13 %
Total admissions11 %6 %
Total volume(2)
8 %4 %
Key Statistical Data - Total(3):
Admissions441,945 399,752 
Recertifications184,613 179,719 
Total volume626,558 579,471 
Medicare completed episodes289,289 295,017 
Average Medicare revenue per completed episode(4)
$3,021 $2,998 
Medicare visits per completed episode(5)
12.0 12.4 
Visiting clinician cost per visit$108.01 $103.31 
Clinical manager cost per visit12.41 11.58 
Total cost per visit$120.42 $114.89 
Visits7,265,742 6,972,929 
(1)Same store information represents the percent change in our Medicare, Non-Medicare and Total revenue, admissions or volume for the period as a percent of the Medicare, Non-Medicare and Total revenue, admissions or volume of the prior period. Same store is defined as care centers that we have operated for at least the last twelve months and startups that are an expansion of a same store care center.
(2)Total volume includes all admissions and recertifications.
(3)Total includes acquisitions, start-ups and de novos.
(4)Average Medicare revenue per completed episode is the average Medicare revenue earned for each Medicare completed episode of care.
(5)Medicare visits per completed episode are the home health Medicare visits on completed episodes divided by the home health Medicare episodes completed during the period.


9

Segment Information - Hospice
 For the Three-Month Periods
Ended December 31,
 20242023
Financial Information (in millions):
Medicare$202.4 $194.2 
Non-Medicare10.5 11.8 
Net service revenue212.9 206.0 
Cost of service, inclusive of depreciation112.2 107.8 
Gross margin100.7 98.2 
General and administrative expenses50.6 48.9 
Depreciation and amortization0.8 0.9 
Operating income$49.3 $48.4 
Same Store Growth(1):
Medicare revenue4 %4 %
Hospice admissions(1 %)(3 %)
Average daily census1 %— %
Key Statistical Data - Total(2):
Hospice admissions12,157 12,226 
Average daily census12,925 12,859 
Revenue per day, net$179.02 $174.10 
Cost of service per day$94.38 $91.18 
Average discharge length of stay95 97 
 For the Years
Ended December 31,
 20242023
Financial Information (in millions):
Medicare$783.9 $754.0 
Non-Medicare41.9 44.8 
Net service revenue825.8 798.8 
Cost of service, inclusive of depreciation429.7 412.2 
Gross margin396.1 386.6 
General and administrative expenses197.1 193.1 
Depreciation and amortization3.1 3.0 
Operating income$195.9 $190.5 
Same Store Growth(1):
Medicare revenue4 %1 %
Hospice admissions(2 %)(5 %)
Average daily census— %(1 %)
Key Statistical Data - Total(2):
Hospice admissions48,426 49,587 
Average daily census12,916 12,863 
Revenue per day, net$174.68 $170.14 
Cost of service per day$90.90 $87.80 
Average discharge length of stay94 93 
(1)Same store information represents the percent change in our Medicare revenue, Hospice admissions or average daily census for the period as a percent of the Medicare revenue, Hospice admissions or average daily census of the prior period. Same store is defined as care centers that we have operated for at least the last twelve months and startups that are an expansion of a same store care center.
(2)Total includes acquisitions and de novos.
10


Segment Information - High Acuity Care

 For the Three-Month Periods
Ended December 31,
 20242023
Financial Information (in millions):
Medicare$— $— 
Non-Medicare8.1 5.9 
Net service revenue8.1 5.9 
Cost of service, inclusive of depreciation6.1 5.6 
Gross margin2.0 0.3 
General and administrative expenses5.7 5.4 
Depreciation and amortization0.9 0.8 
Impairment48.4 — 
Operating loss$(53.0)$(5.9)
Key Statistical Data - Total:
Full risk admissions248 105 
Limited risk admissions659 600 
Total admissions907 705 
Full risk revenue per episode$11,327 $10,919 
Limited risk revenue per episode$6,525 $6,901 
Number of admitting joint ventures8 10 
 For the Years
Ended December 31,
 20242023
Financial Information (in millions):
Medicare$— $— 
Non-Medicare32.0 19.0 
Net service revenue32.0 19.0 
Cost of service, inclusive of depreciation26.0 21.1 
Gross margin6.0 (2.1)
General and administrative expenses22.7 20.4 
Depreciation and amortization3.4 3.1 
Impairment48.4 — 
Operating loss$(68.5)$(25.6)
Key Statistical Data - Total:
Full risk admissions761 648 
Limited risk admissions2,612 1,804 
Total admissions3,373 2,452 
Full risk revenue per episode$10,470 $10,565 
Limited risk revenue per episode$6,685 $6,187 
Number of admitting joint ventures8 10 





11



Segment Information - Personal Care (1)

 For the Years
Ended December 31,
 20242023
Financial Information (in millions):
Medicare$— $— 
Non-Medicare— 15.0 
Net service revenue— 15.0 
Cost of service, inclusive of depreciation— 11.1 
Gross margin— 3.9 
General and administrative expenses— 2.3 
Depreciation and amortization— — 
Operating income$— $1.6 
Key Statistical Data - Total:
Billable hours— 440,464 
Clients served— 7,892 
Shifts— 191,379 
Revenue per hour$— $33.97 
Revenue per shift$— $78.19 
Hours per shift— 2.3 
(1) We completed the sale of our personal care business on March 31, 2023.



Segment Information - Corporate
 
 For the Three-Month Periods
Ended December 31,
 20242023
Financial Information (in millions):
General and administrative expenses$68.2 $64.1 
Depreciation and amortization0.9 0.6 
Total operating expenses$69.1 $64.7 
 For the Years
Ended December 31,
 20242023
Financial Information (in millions):
General and administrative expenses$264.8 $237.5 
Depreciation and amortization3.7 5.6 
Total operating expenses$268.5 $243.1 




12

AMEDISYS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES
(Amounts in thousands)
(Unaudited)

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") Reconciliation:
For the Three-Month Periods
Ended December 31, 		For the Years
Ended December 31,
2024202320242023
Net (loss) income attributable to Amedisys, Inc.$(20,381)$19,322 $43,231 $(9,747)
Add:
        Income tax expense6,291 10,178 48,054 50,559 
        Interest expense, net4,229 7,416 22,654 28,004 
        Depreciation and amortization6,708 5,891 26,039 23,847 
        Certain items(1)
57,802 13,846 105,795 154,344 
Adjusted EBITDA(2)(5)
$54,649 $56,653 $245,773 $247,007 

Adjusted Net Income Attributable to Amedisys, Inc Reconciliation:
For the Three-Month Periods
Ended December 31,		For the Years
Ended December 31,
2024202320242023
Net (loss) income attributable to Amedisys, Inc.$(20,381)$19,322 $43,231 $(9,747)
Add:
        Certain items(1)
52,337 11,500 99,458 150,384 
Adjusted net income attributable to Amedisys, Inc.(3)(5)
$31,956 $30,822 $142,689 $140,637 

Adjusted Net Income Attributable to Amedisys, Inc. per Diluted Share Reconciliation:
For the Three-Month Periods
Ended December 31,		For the Years
Ended December 31,
2024202320242023
Net (loss) income attributable to Amedisys, Inc. common stockholders per diluted share$(0.62)$0.59 $1.31 $(0.30)
Add:
        Certain items(1)
1.58 0.35 3.01 4.60 
Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share(4)(5)
$0.96 $0.94 $4.32 $4.30 

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(1)    The following details the certain items for the three-month periods and years ended December 31, 2024 and 2023:

Certain Items (in thousands):
For the Three-Month Period
Ended December 31, 2024		For the Year Ended
December 31, 2024
(Income) Expense(Income) Expense
Certain Items Impacting General and Administrative Expenses:
Merger-related expenses$17,401 $66,638 
Impairment48,391 48,391 
Certain Items Impacting Other Income (Expense):
Other (income) expense, net(2,123)(3,367)
Certain Items Impacting Net Loss Attributable to Noncontrolling Interests:
Impairment(5,867)(5,867)
Total$57,802 $105,795 
Net of tax$52,337 $99,458 
Diluted EPS$1.58 $3.01 

For the Three-Month Period
Ended December 31, 2023		For the Year Ended
December 31, 2023
(Income) Expense(Income) Expense
Certain Items Impacting Cost of Service, Inclusive of Depreciation:
Clinical optimization and reorganization costs$199 $595 
Certain Items Impacting General and Administrative Expenses:
Acquisition and integration costs180 3,286 
CEO transition661 5,940 
Merger-related expenses11,521 36,672 
Clinical optimization and reorganization costs1,819 6,022 
Personal care divestiture— 525 
Certain Items Impacting Other Income (Expense):
Other (income) expense, net*(534)101,304 
Total$13,846 $154,344 
Net of tax$11,500 $150,384 
Diluted EPS$0.35 $4.60 
*Includes $106,000 merger termination fee recorded during the year ended December 31, 2023

(2) Adjusted EBITDA is defined as net (loss) income attributable to Amedisys, Inc. before net interest expense, provision for income taxes and depreciation and amortization, excluding certain items as described in footnote 1.
(3)    Adjusted net income attributable to Amedisys, Inc. is defined as net (loss) income attributable to Amedisys, Inc. calculated in accordance with GAAP excluding certain items as described in footnote 1.
(4)    Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share is defined as diluted (loss) income per share calculated in accordance with GAAP excluding the earnings per share effect of certain items as described in footnote 1.
(5)    Adjusted EBITDA, adjusted net income attributable to Amedisys, Inc. and adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share should not be considered as an alternative to, or more meaningful than, income before income taxes or other measures calculated in accordance with GAAP. These calculations may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate these non-GAAP financial measures in the same manner.
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