Guarantor And Non-Guarantor Supplementary Information | 9 Months Ended |
Sep. 30, 2013 |
Guarantor And Non-Guarantor Supplementary Information [Abstract] | |
Guarantor And Non-Guarantor Supplementary Information | Note 12. Guarantor and Non-Guarantor Supplementary Information |
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The 6.625% Senior Notes are jointly and severally guaranteed on an unsecured senior basis by substantially all of the Company’s existing subsidiaries that guarantee the Senior Credit Agreement. The following presents the condensed consolidating financial information for the parent issuer, guarantor subsidiaries, non-guarantor subsidiaries, certain eliminations and the Company for the three and nine months ended September 30, 2013 and 2012 and as of September 30, 2013 and December 31, 2012: |
LIFEPOINT HOSPITALS, INC. |
Condensed Consolidating Statements of Operations |
For the Three Months Ended September 30, 2013 |
(In millions) |
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| Parent | | | | | Non- | | | | | | |
| Issuer | | Guarantors | | Guarantors | | Eliminations | | Consolidated |
Revenues before provision for | | | | | | | | | | | | | | |
doubtful accounts | $ | - | | $ | 870.7 | | $ | 222.2 | | $ | - | | $ | 1,092.9 |
Provision for doubtful accounts | | - | | | 165.9 | | | 27.3 | | | - | | | 193.2 |
Revenues | | - | | | 704.8 | | | 194.9 | | | - | | | 899.7 |
| | | | | | | | | | | | | | |
Salaries and benefits | | 6.0 | | | 330.3 | | | 85.9 | | | - | | | 422.2 |
Supplies | | - | | | 105.5 | | | 35.1 | | | - | | | 140.6 |
Other operating expenses | | - | | | 180.4 | | | 42.2 | | | - | | | 222.6 |
Other income | | - | | | -16.2 | | | -3.8 | | | - | | | -20 |
Equity in earnings of affiliates | | -46.9 | | | - | | | - | | | 46.9 | | | - |
Depreciation and amortization | | - | | | 45.5 | | | 11.9 | | | - | | | 57.4 |
Interest expense, net | | 5.5 | | | 16.2 | | | 2.3 | | | - | | | 24.0 |
Debt transaction costs | | 0.3 | | | - | | | - | | | - | | | 0.3 |
Management (income) fees | | - | | | -2.2 | | | 2.2 | | | - | | | - |
| | -35.1 | | | 659.5 | | | 175.8 | | | 46.9 | | | 847.1 |
Income from continuing operations | | | | | | | | | | | | | | |
before taxes | | 35.1 | | | 45.3 | | | 19.1 | | | -46.9 | | | 52.6 |
Provision for income taxes | | 2.3 | | | 16.2 | | | - | | | - | | | 18.5 |
Income from continuing operations | | 32.8 | | | 29.1 | | | 19.1 | | | -46.9 | | | 34.1 |
Income from discontinued operations, | | | | | | | | | | | | | | |
net of taxes | | - | | | 0.3 | | | - | | | - | | | 0.3 |
Net income | | 32.8 | | | 29.4 | | | 19.1 | | | -46.9 | | | 34.4 |
Less: Net income attributable to | | | | | | | | | | | | | | |
noncontrolling interests | | - | | | -0.3 | | | -1.3 | | | - | | | -1.6 |
Net income attributable to LifePoint | | | | | | | | | | | | | | |
Hospitals, Inc. | $ | 32.8 | | $ | 29.1 | | $ | 17.8 | | $ | -46.9 | | $ | 32.8 |
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LIFEPOINT HOSPITALS, INC. |
Condensed Consolidating Statements of Operations |
For the Three Months Ended September 30, 2012 |
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(In millions) |
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| | | | | | | | | | | | | | |
| Parent | | | | | Non- | | | | | | |
| Issuer | | Guarantors | | Guarantors | | Eliminations | | Consolidated |
Revenues before provision for | | | | | | | | | | | | | | |
doubtful accounts | $ | - | | $ | 844.1 | | $ | 140.8 | | $ | - | | $ | 984.9 |
Provision for doubtful accounts | | - | | | 142.5 | | | 22.2 | | | - | | | 164.7 |
Revenues | | - | | | 701.6 | | | 118.6 | | | - | | | 820.2 |
| | | | | | | | | | | | | | |
Salaries and benefits | | 7.0 | | | 326.4 | | | 56.9 | | | - | | | 390.3 |
Supplies | | - | | | 107.3 | | | 22.0 | | | - | | | 129.3 |
Other operating expenses | | - | | | 180.8 | | | 24.5 | | | - | | | 205.3 |
Other income | | - | | | -11.7 | | | -0.3 | | | - | | | -12 |
Equity in earnings of affiliates | | -31.7 | | | - | | | - | | | 31.7 | | | - |
Depreciation and amortization | | - | | | 40.8 | | | 6.9 | | | - | | | 47.7 |
Interest expense, net | | 5.3 | | | 17.3 | | | 1.9 | | | - | | | 24.5 |
Debt transaction costs | | 4.4 | | | - | | | - | | | - | | | 4.4 |
Management (income) fees | | - | | | -2 | | | 2.0 | | | - | | | - |
| | -15 | | | 658.9 | | | 113.9 | | | 31.7 | | | 789.5 |
Income from continuing operations | | | | | | | | | | | | | | |
before taxes | | 15.0 | | | 42.7 | | | 4.7 | | | -31.7 | | | 30.7 |
(Benefit) provision for income taxes | | -4.2 | | | 15.6 | | | - | | | - | | | 11.4 |
Net income | | 19.2 | | | 27.1 | | | 4.7 | | | -31.7 | | | 19.3 |
Less: Net (income) loss attributable | | | | | | | | | | | | | | |
to noncontrolling interests | | - | | | -1.1 | | | 1.0 | | | - | | | -0.1 |
Net income attributable to LifePoint | | | | | | | | | | | | | | |
Hospitals, Inc. | $ | 19.2 | | $ | 26.0 | | $ | 5.7 | | $ | -31.7 | | $ | 19.2 |
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LIFEPOINT HOSPITALS, INC. |
Condensed Consolidating Statements of Operations |
For the Nine Months Ended September 30, 2013 |
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(In millions) |
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| Parent | | | | | Non- | | | | | | |
| Issuer | | Guarantors | | Guarantors | | Eliminations | | Consolidated |
Revenues before provision for | | | | | | | | | | | | | | |
doubtful accounts | $ | - | | $ | 2,608.8 | | $ | 660.0 | | $ | - | | $ | 3,268.8 |
Provision for doubtful accounts | | - | | | 459.4 | | | 83.7 | | | - | | | 543.1 |
Revenues | | - | | | 2,149.4 | | | 576.3 | | | - | | | 2,725.7 |
| | | | | | | | | | | | | | |
Salaries and benefits | | 19.1 | | | 993.3 | | | 265.1 | | | - | | | 1,277.5 |
Supplies | | - | | | 320.7 | | | 108.7 | | | - | | | 429.4 |
Other operating expenses | | 0.5 | | | 538.3 | | | 128.2 | | | - | | | 667.0 |
Other income | | - | | | -32.6 | | | -4.1 | | | - | | | -36.7 |
Equity in earnings of affiliates | | -129.8 | | | - | | | - | | | 129.8 | | | - |
Depreciation and amortization | | - | | | 136.0 | | | 33.1 | | | - | | | 169.1 |
Interest expense, net | | 13.6 | | | 50.3 | | | 6.6 | | | - | | | 70.5 |
Gain on settlement of pre-acquisition | | | | | | | | | | | | | | |
contingent obligation | | - | | | - | | | -5.6 | | | - | | | -5.6 |
Debt transaction costs | | 4.7 | | | - | | | - | | | - | | | 4.7 |
Management (income) fees | | - | | | -6.3 | | | 6.3 | | | - | | | - |
| | -91.9 | | | 1,999.7 | | | 538.3 | | | 129.8 | | | 2,575.9 |
Income from continuing operations | | | | | | | | | | | | | | |
before taxes | | 91.9 | | | 149.7 | | | 38.0 | | | -129.8 | | | 149.8 |
(Benefit) provision for income taxes | | -0.7 | | | 56.2 | | | - | | | - | | | 55.5 |
Income from continuing operations | | 92.6 | | | 93.5 | | | 38.0 | | | -129.8 | | | 94.3 |
Income from discontinued operations, | | | | | | | | | | | | | | |
net of taxes | | - | | | 0.7 | | | - | | | - | | | 0.7 |
Net income | | 92.6 | | | 94.2 | | | 38.0 | | | -129.8 | | | 95.0 |
Less: Net income attributable to | | | | | | | | | | | | | | |
noncontrolling interests | | - | | | -0.6 | | | -1.8 | | | - | | | -2.4 |
Net income attributable to LifePoint | | | | | | | | | | | | | | |
Hospitals, Inc. | $ | 92.6 | | $ | 93.6 | | $ | 36.2 | | $ | -129.8 | | $ | 92.6 |
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LIFEPOINT HOSPITALS, INC. |
Condensed Consolidating Statements of Operations |
For the Nine Months Ended September 30, 2012 |
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(In millions) |
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| Parent | | | | | Non- | | | | | | |
| Issuer | | Guarantors | | Guarantors | | Eliminations | | Consolidated |
Revenues before provision for | | | | | | | | | | | | | | |
doubtful accounts | $ | - | | $ | 2,581.7 | | $ | 381.4 | | $ | - | | $ | 2,963.1 |
Provision for doubtful accounts | | - | | | 402.1 | | | 62.5 | | | - | | | 464.6 |
Revenues | | - | | | 2,179.6 | | | 318.9 | | | - | | | 2,498.5 |
| | | | | | | | | | | | | | - |
Salaries and benefits | | 20.3 | | | 973.3 | | | 136.6 | | | - | | | 1,130.2 |
Supplies | | - | | | 325.5 | | | 57.2 | | | - | | | 382.7 |
Other operating expenses | | - | | | 523.9 | | | 65.6 | | | - | | | 589.5 |
Other income | | - | | | -13.4 | | | -1.3 | | | - | | | -14.7 |
Equity in earnings of affiliates | | -152.7 | | | - | | | - | | | 152.7 | | | - |
Depreciation and amortization | | - | | | 119.1 | | | 20.6 | | | - | | | 139.7 |
Interest expense, net | | 18.3 | | | 52.6 | | | 4.8 | | | - | | | 75.7 |
Debt transaction costs | | 4.4 | | | - | | | - | | | - | | | 4.4 |
Impairment charge | | - | | | 3.1 | | | - | | | - | | | 3.1 |
Management (income) fees | | - | | | -6.1 | | | 6.1 | | | - | | | - |
| | -109.7 | | | 1,978.0 | | | 289.6 | | | 152.7 | | | 2,310.6 |
Income from continuing operations | | | | | | | | | | | | | | |
before taxes | | 109.7 | | | 201.6 | | | 29.3 | | | -152.7 | | | 187.9 |
(Benefit) provision for income taxes | | -5.9 | | | 75.7 | | | - | | | - | | | 69.8 |
Income from continuing operations | | 115.6 | | | 125.9 | | | 29.3 | | | -152.7 | | | 118.1 |
Income from discontinued operations, | | | | | | | | | | | | | | |
net of taxes | | - | | | 0.2 | | | - | | | - | | | 0.2 |
Net income | | 115.6 | | | 126.1 | | | 29.3 | | | -152.7 | | | 118.3 |
Less: Net income attributable to | | | | | | | | | | | | | | |
noncontrolling interests | | - | | | -0.9 | | | -1.8 | | | - | | | -2.7 |
Net income attributable to LifePoint | | | | | | | | | | | | | | |
Hospitals, Inc. | $ | 115.6 | | $ | 125.2 | | $ | 27.5 | | $ | -152.7 | | $ | 115.6 |
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LIFEPOINT HOSPITALS, INC. |
Condensed Consolidating Balance Sheets |
30-Sep-13 |
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(In millions) |
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| Parent | | | | | Non- | | | | | | |
| Issuer | | Guarantors | | Guarantors | | Eliminations | | Consolidated |
ASSETS | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | |
Cash and cash equivalents | $ | - | | $ | 138.8 | | $ | 56.0 | | $ | - | | $ | 194.8 |
Accounts receivable, net | | - | | | 460.7 | | | 108.4 | | | - | | | 569.1 |
Inventories | | - | | | 75.7 | | | 20.6 | | | - | | | 96.3 |
Prepaid expenses | | 0.2 | | | 25.8 | | | 3.9 | | | - | | | 29.9 |
Deferred tax assets | | 179.4 | | | - | | | - | | | - | | | 179.4 |
Other current assets | | - | | | 47.8 | | | 14.8 | | | - | | | 62.6 |
| | 179.6 | | | 748.8 | | | 203.7 | | | - | | | 1,132.1 |
Property and equipment: | | | | | | | | | | | | | | |
Land | | - | | | 75.0 | | | 28.1 | | | - | | | 103.1 |
Buildings and improvements | | - | | | 1,537.4 | | | 296.1 | | | - | | | 1,833.5 |
Equipment | | - | | | 1,247.7 | | | 134.7 | | | - | | | 1,382.4 |
Construction in progress | | - | | | 86.0 | | | 5.1 | | | - | | | 91.1 |
| | - | | | 2,946.1 | | | 464.0 | | | - | | | 3,410.1 |
Accumulated depreciation | | - | | | -1,298.10 | | | -110.4 | | | - | | | -1,408.50 |
| | - | | | 1,648.0 | | | 353.6 | | | - | | | 2,001.6 |
Deferred loan costs, net | | 21.6 | | | - | | | - | | | - | | | 21.6 |
Intangible assets, net | | - | | | 42.7 | | | 33.8 | | | - | | | 76.5 |
Investments in subsidiaries | | 1,792.1 | | | - | | | - | | | -1,792.10 | | | - |
Other | | 3.3 | | | 20.7 | | | 14.2 | | | - | | | 38.2 |
Goodwill | | - | | | 1,444.6 | | | 183.1 | | | - | | | 1,627.7 |
Total assets | $ | 1,996.6 | | $ | 3,904.8 | | $ | 788.4 | | $ | -1,792.10 | | $ | 4,897.7 |
LIABILITIES AND EQUITY | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | |
Accounts payable | $ | - | | $ | 79.7 | | $ | 24.2 | | $ | - | | $ | 103.9 |
Accrued salaries | | - | | | 96.2 | | | 24.8 | | | - | | | 121.0 |
Income taxes payable | | 34.9 | | | - | | | - | | | - | | | 34.9 |
Other current liabilities | | 21.2 | | | 154.6 | | | 35.4 | | | - | | | 211.2 |
Current maturities of long-term debt | | 576.1 | | | 0.9 | | | 0.6 | | | - | | | 577.6 |
| | 632.2 | | | 331.4 | | | 85.0 | | | - | | | 1,048.6 |
Long-term debt | | 1,141.9 | | | 6.7 | | | 3.2 | | | - | | | 1,151.8 |
Intercompany | | -2,184.10 | | | 1,978.7 | | | 205.4 | | | - | | | - |
Deferred income tax liabilities | | 230.8 | | | - | | | - | | | - | | | 230.8 |
Long-term portion of reserves for self-insurance claims | | - | | | 121.3 | | | 21.3 | | | - | | | 142.6 |
Other long-term liabilities | | - | | | 56.0 | | | 39.5 | | | - | | | 95.5 |
Long-term income tax liability | | 16.7 | | | - | | | - | | | - | | | 16.7 |
Total liabilities | | -162.5 | | | 2,494.1 | | | 354.4 | | | - | | | 2,686.0 |
Redeemable noncontrolling interests | | - | | | - | | | 30.6 | | | - | | | 30.6 |
Total LifePoint Hospitals, Inc. stockholders' equity | | 2,159.1 | | | 1,409.2 | | | 382.9 | | | -1,792.10 | | | 2,159.1 |
Noncontrolling interests | | - | | | 1.5 | | | 20.5 | | | - | | | 22.0 |
Total equity | | 2,159.1 | | | 1,410.7 | | | 403.4 | | | -1,792.10 | | | 2,181.1 |
Total liabilities and equity | $ | 1,996.6 | | $ | 3,904.8 | | $ | 788.4 | | $ | -1,792.10 | | $ | 4,897.7 |
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LIFEPOINT HOSPITALS, INC. |
Condensed Consolidating Balance Sheets |
December 31, 2012 |
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(In millions) |
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| Parent | | | | | Non- | | | | | | |
| Issuer | | Guarantors | | Guarantors | | Eliminations | | Consolidated |
ASSETS | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | |
Cash and cash equivalents | $ | - | | $ | 26.8 | | $ | 58.2 | | $ | - | | $ | 85.0 |
Accounts receivable, net | | - | | | 410.1 | | | 108.7 | | | - | | | 518.8 |
Inventories | | - | | | 76.9 | | | 20.1 | | | - | | | 97.0 |
Prepaid expenses | | 0.1 | | | 28.0 | | | 3.7 | | | - | | | 31.8 |
Deferred tax assets | | 142.5 | | | - | | | - | | | - | | | 142.5 |
Other current assets | | - | | | 37.9 | | | 12.3 | | | - | | | 50.2 |
| | 142.6 | | | 579.7 | | | 203.0 | | | - | | | 925.3 |
Property and equipment: | | | | | | | | | | | | | | |
Land | | - | | | 74.7 | | | 27.2 | | | - | | | 101.9 |
Buildings and improvements | | - | | | 1,524.2 | | | 291.0 | | | - | | | 1,815.2 |
Equipment | | - | | | 1,172.2 | | | 117.5 | | | - | | | 1,289.7 |
Construction in progress | | - | | | 76.2 | | | 4.8 | | | - | | | 81.0 |
| | - | | | 2,847.3 | | | 440.5 | | | - | | | 3,287.8 |
Accumulated depreciation | | - | | | -1,175.50 | | | -81.4 | | | - | | | -1,256.90 |
| | - | | | 1,671.8 | | | 359.1 | | | - | | | 2,030.9 |
Deferred loan costs, net | | 21.9 | | | - | | | - | | | - | | | 21.9 |
Intangible assets, net | | - | | | 48.0 | | | 36.5 | | | - | | | 84.5 |
Investments in subsidiaries | | 1,663.1 | | | - | | | - | | | -1,663.10 | | | - |
Other | | 1.5 | | | 27.3 | | | 19.0 | | | - | | | 47.8 |
Goodwill | | - | | | 1,440.4 | | | 171.4 | | | - | | | 1,611.8 |
Total assets | $ | 1,829.1 | | $ | 3,767.2 | | $ | 789.0 | | $ | -1,663.10 | | $ | 4,722.2 |
LIABILITIES AND EQUITY | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | |
Accounts payable | $ | - | | $ | 92.9 | | $ | 24.5 | | $ | - | | $ | 117.4 |
Accrued salaries | | - | | | 105.0 | | | 23.2 | | | - | | | 128.2 |
Income taxes payable | | 0.7 | | | - | | | - | | | - | | | 0.7 |
Other current liabilities | | 12.4 | | | 137.4 | | | 35.5 | | | - | | | 185.3 |
Current maturities of long-term debt | | 11.3 | | | 1.3 | | | 0.7 | | | - | | | 13.3 |
| | 24.4 | | | 336.6 | | | 83.9 | | | - | | | 444.9 |
Long-term debt | | 1,688.6 | | | 5.8 | | | 2.1 | | | - | | | 1,696.5 |
Intercompany | | -2,200.50 | | | 1,963.1 | | | 237.4 | | | - | | | - |
Deferred income tax liabilities | | 249.2 | | | - | | | - | | | - | | | 249.2 |
Long-term portion of reserves for self-insurance claims | | - | | | 106.7 | | | 26.3 | | | - | | | 133.0 |
Other long-term liabilities | | - | | | 39.5 | | | 39.7 | | | - | | | 79.2 |
Long-term income tax liability | | 16.9 | | | - | | | - | | | - | | | 16.9 |
Total liabilities | | -221.4 | | | 2,451.7 | | | 389.4 | | | - | | | 2,619.7 |
Redeemable noncontrolling interests | | - | | | - | | | 29.4 | | | - | | | 29.4 |
Total LifePoint Hospitals, Inc. stockholders' equity | | 2,050.5 | | | 1,314.1 | | | 349.0 | | | -1,663.10 | | | 2,050.5 |
Noncontrolling interests | | - | | | 1.4 | | | 21.2 | | | - | | | 22.6 |
Total equity | | 2,050.5 | | | 1,315.5 | | | 370.2 | | | -1,663.10 | | | 2,073.1 |
Total liabilities and equity | $ | 1,829.1 | | $ | 3,767.2 | | $ | 789.0 | | $ | -1,663.10 | | $ | 4,722.2 |
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LIFEPOINT HOSPITALS, INC. |
Condensed Consolidating Statements of Cash Flows |
For the Three Months Ended September 30, 2013 |
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(In millions) |
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| Parent | | | | | Non- | | | | | | |
| Issuer | | Guarantors | | Guarantors | | Eliminations | | Consolidated |
Cash flows from operating activities: | | | | | | | | | | | | | | |
Net income | $ | 32.8 | | $ | 29.4 | | $ | 19.1 | | $ | -46.9 | | $ | 34.4 |
Adjustments to reconcile net income to net cash provided | | | | | | | | | | | | | | |
by operating activities: | | | | | | | | | | | | | | |
Income from discontinued operations | | - | | | -0.3 | | | - | | | - | | | -0.3 |
Equity in earnings of affiliates | | -46.9 | | | - | | | - | | | 46.9 | | | - |
Stock-based compensation | | 6.0 | | | - | | | - | | | - | | | 6.0 |
Depreciation and amortization | | - | | | 45.5 | | | 11.9 | | | - | | | 57.4 |
Amortization of physician minimum revenue guarantees | | - | | | 3.7 | | | 0.4 | | | - | | | 4.1 |
Amortization of debt discounts and deferred loan costs | | 6.8 | | | - | | | - | | | - | | | 6.8 |
Debt transaction costs | | 0.3 | | | - | | | - | | | - | | | 0.3 |
Deferred income tax benefit | | -9.9 | | | - | | | - | | | - | | | -9.9 |
Reserve for self-insurance claims, net of payments | | - | | | -1.3 | | | 2.1 | | | - | | | 0.8 |
Increase (decrease) in cash from operating assets and | | | | | | | | | | | | | | |
liabilities, net of effects of acquisitions and divestitures: | | | | | | | | | | | | | | |
Accounts receivable | | - | | | 2.0 | | | -9.6 | | | - | | | -7.6 |
Inventories and other current assets | | -0.1 | | | -12.4 | | | 3.4 | | | - | | | -9.1 |
Accounts payable and accrued expenses | | 11.2 | | | 11.0 | | | -15.6 | | | - | | | 6.6 |
Income taxes payable/receivable | | 14.7 | | | - | | | - | | | - | | | 14.7 |
Other | | - | | | 0.8 | | | -0.9 | | | - | | | -0.1 |
Net cash provided by operating activities - continuing | | | | | | | | | | | | | | |
operations | | 14.9 | | | 78.4 | | | 10.8 | | | - | | | 104.1 |
Net cash provided by operating activities - discontinued | | | | | | | | | | | | | | |
operations | | - | | | 0.2 | | | - | | | - | | | 0.2 |
Net cash provided by operating activities | | 14.9 | | | 78.6 | | | 10.8 | | | - | | | 104.3 |
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Cash flows from investing activities: | | | | | | | | | | | | | | |
Purchases of property and equipment | | - | | | -24.2 | | | -8.5 | | | - | | | -32.7 |
Acquisitions, net of cash acquired | | - | | | -12.2 | | | - | | | - | | | -12.2 |
Other | | -1.6 | | | - | | | -0.1 | | | - | | | -1.7 |
Net cash used in investing activities | | -1.6 | | | -36.4 | | | -8.6 | | | - | | | -46.6 |
| | | | | | | | | | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | |
Payments of borrowings | | -3.7 | | | - | | | - | | | - | | | -3.7 |
Repurchases of common stock | | -31.3 | | | - | | | - | | | - | | | -31.3 |
Payment of debt financing costs | | -7.3 | | | - | | | - | | | - | | | -7.3 |
Proceeds from exercise of stock options | | 6.2 | | | - | | | - | | | - | | | 6.2 |
Proceeds from (distributions to) noncontrolling interests | | - | | | 0.3 | | | -1.6 | | | - | | | -1.3 |
Change in intercompany balances with affiliates, net | | 22.8 | | | -10.6 | | | -12.2 | | | - | | | - |
Capital lease payments and other | | - | | | -0.3 | | | -0.2 | | | - | | | -0.5 |
Net cash used in financing activities | | -13.3 | | | -10.6 | | | -14 | | | - | | | -37.9 |
| | | | | | | | | | | | | | |
Change in cash and cash equivalents | | - | | | 31.6 | | | -11.8 | | | - | | | 19.8 |
Cash and cash equivalents at beginning of period | | - | | | 107.2 | | | 67.8 | | | - | | | 175.0 |
Cash and cash equivalents at end of period | $ | - | | $ | 138.8 | | $ | 56.0 | | $ | - | | $ | 194.8 |
|
|
|
LIFEPOINT HOSPITALS, INC. |
Condensed Consolidating Statements of Cash Flows |
For the Three Months Ended September 30, 2012 |
|
(In millions) |
|
| | | | | | | | | | | | | | |
| Parent | | | | | Non- | | | | | | |
| Issuer | | Guarantors | | Guarantors | | Eliminations | | Consolidated |
Cash flows from operating activities: | | | | | | | | | | | | | | |
Net income | $ | 19.2 | | $ | 27.1 | | $ | 4.7 | | $ | -31.7 | | $ | 19.3 |
Adjustments to reconcile net income to net cash provided | | | | | | | | | | | | | | |
by operating activities: | | | | | | | | | | | | | | |
Equity in earnings of affiliates | | -31.7 | | | - | | | - | | | 31.7 | | | - |
Stock-based compensation | | 7.0 | | | - | | | - | | | - | | | 7.0 |
Depreciation and amortization | | - | | | 40.8 | | | 6.9 | | | - | | | 47.7 |
Amortization of physician minimum revenue guarantees | | - | | | 4.5 | | | 0.4 | | | - | | | 4.9 |
Amortization of debt discounts and deferred loan costs | | 7.8 | | | - | | | - | | | - | | | 7.8 |
Debt transaction costs | | 4.4 | | | - | | | - | | | - | | | 4.4 |
Deferred income tax benefit | | -9.4 | | | - | | | - | | | - | | | -9.4 |
Reserve for self-insurance claims, net of payments | | - | | | -0.3 | | | 2.1 | | | - | | | 1.8 |
Increase (decrease) in cash from operating assets and | | | | | | | | | | | | | | |
liabilities, net of effects of acquisitions and divestitures: | | | | | | | | | | | | | | |
Accounts receivable | | - | | | -1.3 | | | -5.4 | | | - | | | -6.7 |
Inventories and other current assets | | -0.1 | | | -6.4 | | | -3 | | | - | | | -9.5 |
Accounts payable and accrued expenses | | 9.4 | | | 19.8 | | | 11.1 | | | - | | | 40.3 |
Income taxes payable/receivable | | -22.9 | | | - | | | - | | | - | | | -22.9 |
Other | | - | | | 0.4 | | | -0.8 | | | - | | | -0.4 |
Net cash (used in) provided by operating activities | | -16.3 | | | 84.6 | | | 16.0 | | | - | | | 84.3 |
| | | | | | | | | | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | |
Purchases of property and equipment | | - | | | -44 | | | -3.3 | | | - | | | -47.3 |
Acquisitions, net of cash acquired | | - | | | -26.9 | | | -135.4 | | | - | | | -162.3 |
Other | | - | | | -0.1 | | | - | | | - | | | -0.1 |
Net cash used in investing activities | | - | | | -71 | | | -138.7 | | | - | | | -209.7 |
| | | | | | | | | | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | |
Proceeds from borrowings | | 490.0 | | | - | | | - | | | - | | | 490.0 |
Payments of borrowings | | -443.7 | | | - | | | - | | | - | | | -443.7 |
Repurchases of common stock | | -0.3 | | | - | | | - | | | - | | | -0.3 |
Payment of debt financing costs | | -9.6 | | | - | | | | | | | | | -9.6 |
Proceeds from exercise of stock options | | 15.9 | | | - | | | - | | | - | | | 15.9 |
Proceeds from employee stock purchase plans | | 0.8 | | | - | | | - | | | - | | | 0.8 |
Proceeds from (distributions to) noncontrolling interests | | - | | | 0.3 | | | -1.7 | | | - | | | -1.4 |
Change in intercompany balances with affiliates, net | | -36.8 | | | -107.8 | | | 144.6 | | | - | | | - |
Capital lease payments and other | | - | | | -0.7 | | | - | | | - | | | -0.7 |
Net cash provided by (used in) financing activities | | 16.3 | | | -108.2 | | | 142.9 | | | - | | | 51.0 |
| | | | | | | | | | | | | | |
Change in cash and cash equivalents | | - | | | -94.6 | | | 20.2 | | | - | | | -74.4 |
Cash and cash equivalents at beginning of period | | - | | | 149.8 | | | 22.5 | | | - | | | 172.3 |
Cash and cash equivalents at end of period | $ | - | | $ | 55.2 | | $ | 42.7 | | $ | - | | $ | 97.9 |
|
|
|
|
LIFEPOINT HOSPITALS, INC. |
Condensed Consolidating Statements of Cash Flows |
For the Nine Months Ended September 30, 2013 |
|
(In millions) |
|
| | | | | | | | | | | | | | |
| Parent | | | | | Non- | | | | | | |
| Issuer | | Guarantors | | Guarantors | | Eliminations | | Consolidated |
Cash flows from operating activities: | | | | | | | | | | | | | | |
Net income | $ | 92.6 | | $ | 94.2 | | $ | 38.0 | | $ | -129.8 | | $ | 95.0 |
Adjustments to reconcile net income to net cash provided | | | | | | | | | | | | | | |
by operating activities: | | | | | | | | | | | | | | |
Income from discontinued operations | | - | | | -0.7 | | | - | | | - | | | -0.7 |
Equity in earnings of affiliates | | -129.8 | | | - | | | - | | | 129.8 | | | - |
Stock-based compensation | | 19.1 | | | - | | | - | | | - | | | 19.1 |
Depreciation and amortization | | - | | | 136.0 | | | 33.1 | | | - | | | 169.1 |
Amortization of physician minimum revenue guarantees | | - | | | 12.0 | | | 1.1 | | | - | | | 13.1 |
Amortization of debt discounts and deferred loan costs | | 19.9 | | | - | | | - | | | - | | | 19.9 |
Gain on settlement of pre-acquisition contingent obligation | | - | | | - | | | -5.6 | | | - | | | -5.6 |
Debt transaction costs | | 4.7 | | | - | | | - | | | - | | | 4.7 |
Deferred income tax benefit | | -53.6 | | | - | | | - | | | - | | | -53.6 |
Reserve for self-insurance claims, net of payments | | - | | | 3.6 | | | 3.9 | | | - | | | 7.5 |
Increase (decrease) in cash from operating assets and | | | | | | | | | | | | | | |
liabilities, net of effects of acquisitions and divestitures: | | | | | | | | | | | | | | |
Accounts receivable | | - | | | -31.1 | | | 4.9 | | | - | | | -26.2 |
Inventories and other current assets | | -0.1 | | | -6 | | | 1.8 | | | - | | | -4.3 |
Accounts payable and accrued expenses | | 8.8 | | | -24.2 | | | -4 | | | - | | | -19.4 |
Income taxes payable/receivable | | 34.2 | | | - | | | - | | | - | | | 34.2 |
Other | | - | | | 0.8 | | | -0.2 | | | - | | | 0.6 |
Net cash (used in) provided by operating activities | | -4.2 | | | 184.6 | | | 73.0 | | | - | | | 253.4 |
| | | | | | | | | | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | |
Purchases of property and equipment | | - | | | -88.3 | | | -20.2 | | | - | | | -108.5 |
Acquisitions, net of cash acquired | | - | | | -18.4 | | | - | | | - | | | -18.4 |
Other | | -1.8 | | | 0.6 | | | 0.9 | | | - | | | -0.3 |
Net cash used in investing activities | | -1.8 | | | -106.1 | | | -19.3 | | | - | | | -127.2 |
| | | | | | | | | | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | |
Proceeds from borrowings | | 323.0 | | | - | | | - | | | - | | | 323.0 |
Payments of borrowings | | -320.9 | | | - | | | - | | | - | | | -320.9 |
Repurchases of common stock | | -38.5 | | | - | | | - | | | - | | | -38.5 |
Payment of debt financing costs | | -8.3 | | | - | | | - | | | - | | | -8.3 |
Proceeds from exercise of stock options | | 34.4 | | | - | | | - | | | - | | | 34.4 |
Refunds of employee stock purchase plans | | -0.2 | | | - | | | - | | | - | | | -0.2 |
Proceeds from (distributions to) noncontrolling interests | | - | | | 1.0 | | | -5.1 | | | - | | | -4.1 |
Change in intercompany balances with affiliates, net | | 16.5 | | | 33.7 | | | -50.2 | | | - | | | - |
Capital lease payments and other | | - | | | -1.2 | | | -0.6 | | | - | | | -1.8 |
Net cash provided by (used in) financing activities | | 6.0 | | | 33.5 | | | -55.9 | | | - | | | -16.4 |
| | | | | | | | | | | | | | |
Change in cash and cash equivalents | | - | | | 112.0 | | | -2.2 | | | - | | | 109.8 |
Cash and cash equivalents at beginning of period | | - | | | 26.8 | | | 58.2 | | | - | | | 85.0 |
Cash and cash equivalents at end of period | $ | - | | $ | 138.8 | | $ | 56.0 | | $ | - | | $ | 194.8 |
|
|
|
LIFEPOINT HOSPITALS, INC. |
Condensed Consolidating Statements of Cash Flows |
For the Nine Months Ended September 30, 2012 |
|
(In millions) |
|
| | | | | | | | | | | | | | |
| Parent | | | | | Non- | | | | | | |
| Issuer | | Guarantors | | Guarantors | | Eliminations | | Consolidated |
Cash flows from operating activities: | | | | | | | | | | | | | | |
Net income | $ | 115.6 | | $ | 126.1 | | $ | 29.3 | | $ | -152.7 | | $ | 118.3 |
Adjustments to reconcile net income to net cash provided | | | | | | | | | | | | | | |
by operating activities: | | | | | | | | | | | | | | |
Income from discontinued operations | | - | | | -0.2 | | | - | | | - | | | -0.2 |
Equity in earnings of affiliates | | -152.7 | | | - | | | - | | | 152.7 | | | - |
Stock-based compensation | | 20.3 | | | - | | | - | | | - | | | 20.3 |
Depreciation and amortization | | - | | | 119.1 | | | 20.6 | | | - | | | 139.7 |
Amortization of physician minimum revenue guarantees | | - | | | 13.5 | | | 1.2 | | | - | | | 14.7 |
Amortization of debt discounts and deferred loan costs | | 23.4 | | | - | | | - | | | - | | | 23.4 |
Debt transaction costs | | 4.4 | | | - | | | - | | | - | | | 4.4 |
Impairment charge | | - | | | 3.1 | | | - | | | - | | | 3.1 |
Deferred income tax benefit | | -48 | | | - | | | - | | | - | | | -48 |
Reserve for self-insurance claims, net of payments | | - | | | -2.4 | | | 1.4 | | | - | | | -1 |
Increase (decrease) in cash from operating assets and | | | | | | | | | | | | | | |
liabilities, net of effects of acquisitions and divestitures: | | | | | | | | | | | | | | |
Accounts receivable | | - | | | -27 | | | -15.4 | | | - | | | -42.4 |
Inventories and other current assets | | -0.1 | | | 1.8 | | | -3.9 | | | - | | | -2.2 |
Accounts payable and accrued expenses | | 8.3 | | | 4.6 | | | 9.3 | | | - | | | 22.2 |
Income taxes payable/receivable | | 9.7 | | | - | | | - | | | - | | | 9.7 |
Other | | - | | | 1.0 | | | -0.7 | | | - | | | 0.3 |
Net cash (used in) provided by operating activities - | | | | | | | | | | | | | | |
continuing operations | | -19.1 | | | 239.6 | | | 41.8 | | | - | | | 262.3 |
Net cash used in operating activities - discontinued | | | | | | | | | | | | | | |
operations | | - | | | -0.7 | | | - | | | - | | | -0.7 |
Net cash (used in) provided by operating activities | | -19.1 | | | 238.9 | | | 41.8 | | | - | | | 261.6 |
| | | | | | | | | | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | |
Purchases of property and equipment | | - | | | -146.5 | | | -10.9 | | | - | | | -157.4 |
Acquisitions, net of cash acquired | | - | | | -26.9 | | | -155.5 | | | - | | | -182.4 |
Other | | -0.2 | | | -0.2 | | | - | | | - | | | -0.4 |
Net cash used in investing activities | | -0.2 | | | -173.6 | | | -166.4 | | | - | | | -340.2 |
| | | | | | | | | | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | |
Proceeds from borrowings | | 490.0 | | | - | | | - | | | - | | | 490.0 |
Payments of borrowings | | -443.7 | | | - | | | - | | | - | | | -443.7 |
Repurchases of common stock | | -6.2 | | | - | | | - | | | - | | | -6.2 |
Payment of debt financing costs | | -9.6 | | | - | | | - | | | - | | | -9.6 |
Proceeds from exercise of stock options | | 21.4 | | | - | | | - | | | - | | | 21.4 |
Proceeds from employee stock purchase plans | | 1.3 | | | - | | | - | | | - | | | 1.3 |
Proceeds from (distributions to) noncontrolling interests | | - | | | 0.9 | | | -3.7 | | | - | | | -2.8 |
Sales of redeemable noncontrolling interests | | - | | | - | | | 1.6 | | | - | | | 1.6 |
Change in intercompany balances with affiliates, net | | -33.9 | | | -115.9 | | | 149.8 | | | - | | | - |
Capital lease payments and other | | - | | | -1.3 | | | -0.4 | | | - | | | -1.7 |
Net cash provided by (used in) financing activities | | 19.3 | | | -116.3 | | | 147.3 | | | - | | | 50.3 |
| | | | | | | | | | | | | | |
Change in cash and cash equivalents | | - | | | -51 | | | 22.7 | | | - | | | -28.3 |
Cash and cash equivalents at beginning of period | | - | | | 106.2 | | | 20.0 | | | - | | | 126.2 |
Cash and cash equivalents at end of period | $ | - | | $ | 55.2 | | $ | 42.7 | | $ | - | | $ | 97.9 |
|
|