Company: EHC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000785161-25-000009
Chunk: 155

Company: Encompass Health Corp
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 155
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 (in millions):

 For the Year Ended December 31, 202420232022Net cash provided by operating activities$1,005.9 $866.8 $653.5 Net cash used in investing activities(653.3)(602.8)(623.5)Net cash used in financing activities(330.6)(197.2)(660.8)Increase (decrease) in cash, cash equivalents, and restricted cash$22.0 $66.8 $(630.8)

2024 Compared to 2023

Operating activities. The increase in Net cash provided by operating activities of continuing operations during 2024 compared to 2023 primarily resulted from an increase in Net income which was driven by growth in Net operating revenues.

Investing activities. The increase in Net cash used in investing activities of continuing operations during 2024 compared to 2023 primarily resulted from increased Purchases of property, equipment, and intangible assets.

Financing activities. The increase in Net cash used in financing activities of continuing operations during 2024 compared to 2023 primarily resulted from higher net debt payments and repurchases of common stock partially offset by higher Contributions from noncontrolling interests of consolidated affiliates. Net debt payments during 2024 included the redemption of $250 million of the outstanding principal balance of our 2025 Notes using cash on hand. See Note 9, Long-term Debt, to the accompanying consolidated financial statements, for additional information related to our debt. Contributions from noncontrolling interests of consolidated affiliates during 2024 included approximately $90 million from Piedmont discussed in the “Current Liquidity” section of this Item. For additional information related to our stock repurchases, see the “Authorizations for Returning Capital to Stakeholders” section of this Item.

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Contractual Obligations

Our consolidated contractual obligations as of December 31, 2024 are as follows (in millions):

 TotalCurrentLong-termLong-term debt obligations:   Long-term debt, excluding revolving credit facility and finance lease obligations (a)$2,159.4 $114.9 $2,044.5 Revolving credit facility20.0 — 20.0 Interest on long-term debt (b)460.7 105.1 355.6 Finance lease obligations (c)458.6 46.7 411.9 Operating lease obligations (d)296.8 38.9 257.9 Purchase obligations