HCA Healthcare, Inc. - FORM 8-K - EX-99.1 - July 26, 2011

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8-K - FORM 8-K - HCA Healthcare, Inc.g27505e8vk.htm
EX-99.3 - EX-99.3 - HCA Healthcare, Inc.g27505exv99w3.htm
EX-99.2 - EX-99.2 - HCA Healthcare, Inc.g27505exv99w2.htm
EX-23.1 - EX-23.1 - HCA Healthcare, Inc.g27505exv23w1.htm
EX-99.4 - EX-99.4 - HCA Healthcare, Inc.g27505exv99w4.htm
 
EXHIBIT 99.1
Item 6.   Selected Financial Data
 
HCA HOLDINGS, INC.
SELECTED FINANCIAL DATA
AS OF AND FOR THE YEARS ENDED DECEMBER 31
(Dollars in millions, except per share amounts)
 
                                         
    2010     2009     2008     2007     2006  
 
Summary of Operations:
                                       
Revenues
  $ 30,683     $ 30,052     $ 28,374     $ 26,858     $ 25,477  
                                         
Salaries and benefits
    12,484       11,958       11,440       10,714       10,409  
Supplies
    4,961       4,868       4,620       4,395       4,322  
Other operating expenses
    5,004       4,724       4,554       4,233       4,056  
Provision for doubtful accounts
    2,648       3,276       3,409       3,130       2,660  
Equity in earnings of affiliates
    (282 )     (246 )     (223 )     (206 )     (197 )
Gains on sales of investments
    —       —       —       —       (243 )
Depreciation and amortization
    1,421       1,425       1,416       1,426       1,391  
Interest expense
    2,097       1,987       2,021       2,215       955  
Losses (gains) on sales of facilities
    (4 )     15       (97 )     (471 )     (205 )
Impairments of long-lived assets
    123       43       64       24       24  
Transaction costs
    —       —       —       —       442  
                                         
      28,452       28,050       27,204       25,460       23,614  
                                         
Income before income taxes
    2,231       2,002       1,170       1,398       1,863  
Provision for income taxes
    658       627       268       316       626  
                                         
Net income
    1,573       1,375       902       1,082       1,237  
Net income attributable to noncontrolling interests
    366       321       229       208       201  
                                         
Net income attributable to HCA Holdings, Inc. 
  $ 1,207     $ 1,054     $ 673     $ 874     $ 1,036  
                                         
Per common share data:
                                       
Basic earnings per share
  $ 2.83     $ 2.48     $ 1.59     $ 2.07       (a)  
Diluted earnings per share
    2.76       2.44       1.56       2.03       (a)  
Cash dividends declared per share
    9.43       —       —       —       (a)  
Financial Position:
                                       
Assets
  $ 23,852     $ 24,131     $ 24,280     $ 24,025     $ 23,675  
Working capital
    2,650       2,264       2,391       2,356       2,502  
Long-term debt, including amounts due within one year
    28,225       25,670       26,989       27,308       28,408  
Equity securities with contingent redemption rights
    141       147       155       164       125  
Noncontrolling interests
    1,132       1,008       995       938       907  
Stockholders’ deficit
    (10,794 )     (7,978 )     (9,260 )     (9,600 )     (10,467 )
Cash Flow Data:
                                       
Cash provided by operating activities
  $ 3,085     $ 2,747     $ 1,990     $ 1,564     $ 1,988  
Cash used in investing activities
    (1,039 )     (1,035 )     (1,467 )     (479 )     (1,307 )
Capital expenditures
    (1,325 )     (1,317 )     (1,600 )     (1,444 )     (1,865 )
Cash used in financing activities
    (1,947 )     (1,865 )     (451 )     (1,326 )     (383 )


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    2010     2009     2008     2007     2006  
 
Operating Data:
                                       
Number of hospitals at end of period(b)
    156       155       158       161       166  
Number of freestanding outpatient surgical centers at end of period(c)
    97       97       97       99       98  
Number of licensed beds at end of period(d)
    38,827       38,839       38,504       38,405       39,354  
Weighted average licensed beds(e)
    38,655       38,825       38,422       39,065       40,653  
Admissions(f)
    1,554,400       1,556,500       1,541,800       1,552,700       1,610,100  
Equivalent admissions(g)
    2,468,400       2,439,000       2,363,600       2,352,400       2,416,700  
Average length of stay (days)(h)
    4.8       4.8       4.9       4.9       4.9  
Average daily census(i)
    20,523       20,650       20,795       21,049       21,688  
Occupancy(j)
    53 %     53 %     54 %     54 %     53 %
Emergency room visits(k)
    5,706,200       5,593,500       5,246,400       5,116,100       5,213,500  
Outpatient surgeries(l)
    783,600       794,600       797,400       804,900       820,900  
Inpatient surgeries(m)
    487,100       494,500       493,100       516,500       533,100  
Days revenues in accounts receivable(n)
    46       45       49       53       53  
Gross patient revenues(o)
  $ 125,640     $ 115,682     $ 102,843     $ 92,429     $ 84,913  
Outpatient revenues as a % of patient revenues(p)
    38 %     38 %     37 %     37 %     36 %
 
 
(a) Due to our November 2006 Merger and Recapitalization, our capital structure and share-based compensation plans for periods before and after the Recapitalization are not comparable; therefore, we are presenting earnings and dividends declared per share information only for periods subsequent to the Recapitalization.
 
(b) Excludes eight facilities in 2010, 2009, 2008 and 2007 and seven facilities in 2006 that are not consolidated (accounted for using the equity method) for financial reporting purposes.
 
(c) Excludes nine facilities in 2010, 2007 and 2006 and eight facilities in 2009 and 2008 that are not consolidated (accounted for using the equity method) for financial reporting purposes.
 
(d) Licensed beds are those beds for which a facility has been granted approval to operate from the applicable state licensing agency.
 
(e) Represents the average number of licensed beds, weighted based on periods owned.
 
(f) Represents the total number of patients admitted to our hospitals and is used by management and certain investors as a general measure of inpatient volume.
 
(g) Equivalent admissions are used by management and certain investors as a general measure of combined inpatient and outpatient volume. Equivalent admissions are computed by multiplying admissions (inpatient volume) by the sum of gross inpatient revenue and gross outpatient revenue and then dividing the resulting amount by gross inpatient revenue. The equivalent admissions computation “equates” outpatient revenue to the volume measure (admissions) used to measure inpatient volume, resulting in a general measure of combined inpatient and outpatient volume.
 
(h) Represents the average number of days admitted patients stay in our hospitals.
 
(i) Represents the average number of patients in our hospital beds each day.
 
(j) Represents the percentage of hospital licensed beds occupied by patients. Both average daily census and occupancy rate provide measures of the utilization of inpatient rooms.
 
(k) Represents the number of patients treated in our emergency rooms.
 
(l) Represents the number of surgeries performed on patients who were not admitted to our hospitals. Pain management and endoscopy procedures are not included in outpatient surgeries.
 
(m) Represents the number of surgeries performed on patients who have been admitted to our hospitals. Pain management and endoscopy procedures are not included in inpatient surgeries.
 
(n) Revenues per day is calculated by dividing the revenues for the period by the days in the period. Days revenues in accounts receivable is then calculated as accounts receivable, net of the allowance for doubtful accounts, at the end of the period divided by revenues per day.
 
(o) Gross patient revenues are based upon our standard charge listing. Gross charges/revenues typically do not reflect what our hospital facilities are paid. Gross charges/revenues are reduced by contractual adjustments, discounts and charity care to determine reported revenues.
 
(p) Represents the percentage of patient revenues related to patients who are not admitted to our hospitals.


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