Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2025

Our long-term debt outstanding consists of the following (in millions):


	As of December 31,
	2025		2024
Credit Agreement—
Advances under revolving credit facility	$	130.0	$	20.0

Bonds payable—
5.75% Senior Notes due 2025	—		99.8
4.50% Senior Notes due 2028	792.0		788.4
4.75% Senior Notes due 2030	787.0		784.2
4.625% Senior Notes due 2031	393.6		392.5
Other notes payable	93.6		94.5
Finance lease obligations	294.6		318.4
	2,490.8		2,497.8
Less: Current portion	(43.6)		(138.6)
Long-term debt, net of current portion	$	2,447.2	$	2,359.2

Our notes payable consist of the following (in millions):


	As of December 31,
	2025		2024		Current Interest Rates
Sale/leaseback transactions involving real estate accounted for as financings	$	28.0	$	28.0	9.2% to 13.4%

Construction of new hospitals	41.0		47.6		5.0% to 6.3%
Software contracts	24.6		18.9		4.7% to 6.5%
Other notes payable	$	93.6	$	94.5

Schedule of Debt Maturities

The following chart shows scheduled principal payments due on long-term debt for the next five years and thereafter (in millions):


Year Ending December 31,	Face Amount		Net Amount
2026	$	43.6	$	43.6
2027	177.2		177.2
2028	835.9		827.8
2029	44.7		44.6
2030	850.2		837.1
Thereafter	566.9		560.5
Total	$	2,518.5	$	2,490.8

Schedule of Redemption Prices for Senior Notes

We may redeem the 2030 Notes, in whole or in part, at any time on or after February 1, 2025 at the redemption prices set forth below:


Period	Redemption Price*
2025	102.375	%
2026	101.583	%
2027	100.792	%
2028 and thereafter	100.000	%

* Expressed in percentage of principal amount

We may redeem the 2031 Notes, in whole or in part, at any time on or after April 1, 2026 at the redemption prices set forth below:


Period	Redemption Price*
2026	102.313	%
2027	101.542	%
2028	100.771	%
2029 and thereafter	100.000	%

* Expressed in percentage of principal amount

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Encompass Health Corp 10-K