EXHIBIT 99.2
Vanguard Health Systems, Inc.
Supplementary Financial Information
Adjusted EBITDA Margin
Presentation of Most Directly Comparable GAAP Financial Measure (Net Loss Attributable to Vanguard
Health Systems, Inc. Stockholders Margin)
and Reconciliation of Adjusted EBITDA to Net Loss Attributable to Vanguard Health Systems, Inc.
Stockholders Margin
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| | | Quarter ended | | | Nine months ended | |
| | | March 31, | | | March 31, | |
| (in millions, unaudited) | | 2010 | | | 2011 | | | 2010 | | | 2011 | |
| Adjusted EBITDA | | $ | 90.5 | | | $ | 128.6 | | | $ | 243.7 | | | $ | 292.7 | |
| Total revenues | | | 858.1 | | | | 1,519.6 | | | | 2,518.5 | | | | 3,394.1 | |
| | | | | | | | | | | | | |
Adjusted EBITDA Margin | | | 10.5 | % | | | 8.5 | % | | | 9.7 | % | | | 8.6 | % |
| |
| Adjusted EBITDA | | $ | 90.5 | | | $ | 128.6 | | | $ | 243.7 | | | $ | 292.7 | |
| Interest, net | | | (29.9 | ) | | | (48.0 | ) | | | (84.7 | ) | | | (117.9 | ) |
| Income tax benefit (expense) | | | 16.5 | | | | (4.4 | ) | | | 18.2 | | | | (11.7 | ) |
| Depreciation and amortization | | | (34.3 | ) | | | (55.8 | ) | | | (101.9 | ) | | | (131.6 | ) |
| Non-controlling interests | | | (0.4 | ) | | | (0.8 | ) | | | (2.1 | ) | | | (2.6 | ) |
| Loss on disposal of assets | | | — | | | | (0.8 | ) | | | (0.4 | ) | | | (0.9 | ) |
| Equity method income | | | 0.3 | | | | — | | | | 0.8 | | | | 0.6 | |
| Stock compensation | | | (0.6 | ) | | | (0.7 | ) | | | (3.5 | ) | | | (3.6 | ) |
| Monitoring fees and expenses | | | (1.2 | ) | | | (1.2 | ) | | | (3.9 | ) | | | (3.7 | ) |
| Realized loss on investments | | | — | | | | — | | | | — | | | | (0.1 | ) |
| Debt extinguishment costs | | | (73.2 | ) | | | — | | | | (73.2 | ) | | | — | |
| Acquisition related expenses | | | — | | | | (6.9 | ) | | | — | | | | (11.9 | ) |
| Impairment and restructuring charges | | | — | | | | (5.1 | ) | | | (43.1 | ) | | | (6.0 | ) |
| Pension credits | | | — | | | | 1.1 | | | | — | | | | 1.1 | |
| Loss from discontinued operations, net of taxes | | | (0.5 | ) | | | (3.2 | ) | | | (1.9 | ) | | | (5.4 | ) |
| | | | | | | | | | | | | |
| Net loss attributable to Vanguard Health Systems, Inc. stockholders | | $ | (32.8 | ) | | $ | 2.8 | | | $ | (52.0 | ) | | $ | (1.0 | ) |
| Total revenues | | $ | 858.1 | | | $ | 1,519.6 | | | $ | 2,518.5 | | | $ | 3,394.1 | |
| | | | | | | | | | | | | |
Net loss attributable to Vanguard Health Systems, Inc. stockholders margin | | | (3.8 | )% | | | 0.2 | % | | | (2.1 | )% | | | (0.0 | )% |
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