Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2013 | Apr. 26, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q/A | ' |
Amendment Flag | 'true | ' |
Amendment Description | 'Health Management Associates, Inc. (the "Company") is filing this Amendment No. 1 (this "Amendment") to its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013 (the "Original Form 10-Q") filed with the Securities and Exchange Commission (the "SEC") on May 3, 2013 (the "Original Filing Date") to restate and amend the Company's previously issued consolidated financial statements and related financial information for the quarterly periods ended March 31, 2013 and 2012 included in its Original Form 10-Q to correct an error in the accounting treatment of approximately $31.0 million of incentive payments recognized as income by the Company between July 1, 2011 and June 30, 2013 pursuant to federal Medicare and various state Medicaid Healthcare Information Technology ("HCIT") programs and other individually immaterial errors. Except as described in this Explanatory Note and Effects of Restatement below, the financial statements and financial statement footnote disclosures in the Original Form 10-Q are unchanged. In particular, except for the events described under "Background" and"Effects of Restatement," this Amendment has not been updated to reflect any events that have occurred after the Original Form 10-Q was filed or to modify or update disclosures affected by other subsequent events. Accordingly, forward-looking statements included in this Amendment represent management's views as of the Original Filing Date and should not be assumed to be accurate as of any date thereafter. This Amendment should be read in conjunction with the Form 10-K filed with the SEC on February 27, 2013 and the Company's subsequent filings with the SEC, together with any amendments to those filings. Background The Company participates in HCIT programs pursuant to which Medicare and Medicaid incentive payments are paid to eligible hospitals and physician practices that implement and achieve "meaningful use" of certified electronic health record ("EHR") technology. In October 2013, based on the results of an internal review, the Company determined that it had made an accounting error in applying the requirements for certifying its EHR technology under these programs and, as a result, that 11 of the hospitals it had enrolled in the HCIT programs did not meet the "meaningful use" criteria necessary to qualify for HCIT payments. The Company promptly notified the Centers for Medicare and Medicaid Services ("CMS"), the government agency responsible for administering federal HCIT programs, as well as the agencies that administer the various relevant state HCIT programs, of its determination. On October 30, 2013, the Company withdrew the 11 hospitals from the HCIT programs and repaid the majority of the funds to CMS. The Company is in the process of repaying the balance of the funds to the relevant state programs. The Company expects to re-enroll the hospitals in the HCIT programs and may be able to recoup some portion of the amount repaid. Effects of Restatement This Amendment amends and restates the Original Form 10-Q to correct an error in accounting treatment of HCIT incentive payments as more fully described in Note 2 to the Consolidated Financial Statements and to reflect certain immaterial unrelated adjustments. Revisions to the Original Form 10-Q have been made to the Company's Consolidated Financial Statements and related disclosures in Financial Statements for the quarterly periods ended March 31, 2013 and 2012, and, where necessary, to the following other items to reflect the restatements: • Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations • Item 4 - Controls and Procedures Item 6 of this Amendment has been amended to include as exhibits currently dated certifications from the Company's principal executive officer and principal financial officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. The adjustments to correct the error in accounting treatment of HCIT incentive payments and unrelated adjustments resulted in an increase in income from continuing operations of $0.6 million and $0.1 million in the quarters ended March 31, 2013 and 2012 respectively. The Company concluded that a control deficiency related to the administration, oversight and accounting for the Company's EHR enrollment process constituting a material weakness in its internal control over financial reporting existed at December 31, 2012, March 31, 2013, June 30 and September 30, 2013 and that, due solely to this material weakness, the Company's internal control over financial reporting and its disclosure controls and procedures were not effective as of those dates. The Company has corrected its accounting treatment for HCIT payments and is in the process of implementing new controls that management believes will remediate the material weakness in internal control over financial reporting. The Company will test the operating effectiveness of these controls in future periods. | ' |
Document Period End Date | 31-Mar-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Entity Registrant Name | 'HEALTH MANAGEMENT ASSOCIATES, INC | ' |
Entity Central Index Key | '0000792985 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Common Stock, Shares Outstanding | ' | 259,329,571 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Consolidated Statements Of Income [Abstract] | ' | ' | ||
Net revenue before the provision for doubtful accounts | $1,724,028 | [1] | $1,685,268 | [1] |
Provision for doubtful accounts | -236,199 | [1] | -201,261 | [1] |
Net revenue | 1,487,829 | [1] | 1,484,007 | [1] |
Salaries and benefits | 685,678 | [1] | 658,237 | [1] |
Supplies | 235,768 | [1] | 234,443 | [1] |
Rent expense | 42,081 | [1] | 44,950 | [1] |
Other operating expenses | 324,090 | [1] | 312,201 | [1] |
Medicare and Medicaid HCIT incentive payments | -3,982 | [1] | -4,590 | [1] |
Depreciation and amortization | 93,826 | [1] | 78,347 | [1] |
Interest expense | 71,491 | [1] | 88,865 | [1] |
Other | -1,891 | [1] | 1,640 | [1] |
Total expenses and other, net | 1,447,061 | [1] | 1,414,093 | [1] |
Income from continuing operations before income taxes | 40,768 | [1] | 69,914 | [1] |
Provision for income taxes | -12,415 | [1] | -23,804 | [1] |
Income from continuing operations | 28,353 | [1] | 46,110 | [1] |
Loss from discontinued operations, net of income taxes | ' | [1] | -1,395 | [1] |
Consolidated net income | 28,353 | [1] | 44,715 | [1] |
Net income attributable to noncontrolling interests | -4,665 | [1] | -6,906 | [1] |
Net income attributable to Health Management Associates, Inc. | $23,688 | [1] | $37,809 | [1] |
Basic | ' | ' | ||
Continuing operations | $0.09 | [1] | $0.15 | [1] |
Discontinued operations | ' | [1] | ' | [1] |
Net income | $0.09 | [1] | $0.15 | [1] |
Diluted | ' | ' | ||
Continuing operations | $0.09 | [1] | $0.15 | [1] |
Discontinued operations | ' | [1] | ' | [1] |
Net income | $0.09 | [1] | $0.15 | [1] |
Weighted average number of shares outstanding: | ' | ' | ||
Basic | 256,152 | [1] | 253,316 | [1] |
Diluted | 260,550 | [1] | 255,699 | [1] |
[1] | Restated |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | ' | ' | ||
Consolidated net income | $28,353 | [1] | $44,715 | [1] |
Available-for-sale securities: | ' | ' | ||
Unrealized gains (losses), net | 4,120 | [1] | 5,119 | [1] |
Adjustments for net (gains) losses reclassified into net income | -1,427 | [1] | 264 | [1] |
Net activity attributable to available-for-sale securities | 2,693 | [1] | 5,383 | [1] |
Interest rate swap contract: | ' | ' | ||
Reclassification adjustments for amortization of expense into net income | 18,356 | [1] | 20,453 | [1] |
Other comprehensive income (loss) before income taxes | 21,049 | [1] | 25,836 | [1] |
Income tax expense related to items of other comprehensive income | -8,070 | [1] | -9,824 | [1] |
Other comprehensive income, net | 12,979 | [1] | 16,012 | [1] |
Total consolidated comprehensive income | 41,332 | [1] | 60,727 | [1] |
Total comprehensive income attributable to noncontrolling interests | -4,665 | [1] | -6,906 | [1] |
Total comprehensive income attributable to Health Management Associates, Inc. common stockholders | $36,667 | [1] | $53,821 | [1] |
[1] | Restated |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Mar. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ||
Cash and cash equivalents | $37,358 | [1] | $59,173 | [1] |
Available-for-sale securities | 52,207 | [1] | 121,106 | [1] |
Accounts receivable, less allowances for doubtful accounts of $679,864 and $670,729 at March 31, 2013 and December 31, 2012, respectively | 991,027 | [1] | 957,918 | [1] |
Supplies, prepaid expenses and other assets | 221,505 | [1] | 220,884 | [1] |
Prepaid and recoverable income taxes | 64,498 | [1] | 60,438 | [1] |
Restricted funds | 25,109 | [1] | 26,525 | [1] |
Assets held for sale | 6,250 | [1] | 6,250 | [1] |
Total current assets | 1,397,954 | [1] | 1,452,294 | [1] |
Property, plant and equipment | 5,564,045 | [1] | 5,523,870 | [1] |
Accumulated depreciation and amortization | -2,107,027 | [1] | -2,057,980 | [1] |
Net property, plant and equipment | 3,457,018 | [1] | 3,465,890 | [1] |
Restricted funds | 126,581 | [1] | 125,532 | [1] |
Goodwill | 1,025,823 | [1] | 1,025,137 | [1] |
Deferred charges and other assets | 302,223 | [1] | 317,501 | [1] |
Total assets | 6,309,599 | [1] | 6,386,354 | [1] |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ||
Accounts payable | 169,713 | [1] | 211,387 | [1] |
Accrued expenses and other liabilities | 556,774 | [1] | 609,732 | [1] |
Deferred income taxes | 27,086 | [1] | 29,026 | [1] |
Current maturities of long-term debt and capital lease obligations | 99,093 | [1] | 126,262 | [1] |
Total current liabilities | 852,666 | [1] | 976,407 | [1] |
Deferred income taxes | 324,157 | [1] | 301,237 | [1] |
Long-term debt and capital lease obligations, less current maturities | 3,418,195 | [1] | 3,440,353 | [1] |
Other long-term liabilities | 467,858 | [1] | 460,886 | [1] |
Total liabilities | 5,062,876 | [1] | 5,178,883 | [1] |
Redeemable equity securities | 212,208 | [1] | 212,458 | [1] |
Stockholders' equity: | ' | ' | ||
Preferred stock, $0.01 par value, 5,000 shares authorized, none issued | ' | [1] | ' | [1] |
Common stock, Class A, $0.01 par value, 750,000 shares authorized, 259,084 and 256,394 shares issued at March 31, 2013 and December 31, 2012, respectively | 2,591 | [1] | 2,564 | [1] |
Accumulated other comprehensive income (loss), net of income taxes | -28,961 | [1] | -41,940 | [1] |
Additional paid-in capital | 185,973 | [1] | 173,843 | [1] |
Retained earnings | 867,626 | [1] | 843,938 | [1] |
Total Health Management Associates, Inc. stockholders' equity | 1,027,229 | [1] | 978,405 | [1] |
Noncontrolling interests | 7,286 | [1] | 16,608 | [1] |
Total stockholders' equity | 1,034,515 | [1] | 995,013 | [1] |
Total liabilities and stockholders' equity | $6,309,599 | [1] | $6,386,354 | [1] |
[1] | Restated |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Condensed Consolidated Balance Sheets [Abstract] | ' | ' |
Allowances for doubtful accounts receivable | $679,864 | $670,729 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, Class A, par value | $0.01 | $0.01 |
Common stock, Class A, shares authorized | 750,000,000 | 750,000,000 |
Common stock, Class A, shares issued | 259,084,000 | 256,394,000 |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (USD $) | Common Stock [Member] | Accumulated Other Comprehensive Income (Loss), Net [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Noncontrolling Interests [Member] | Total | ||||
In Thousands | ||||||||||
Balances, value at Dec. 31, 2011 | $2,542 | ($95,440) | $156,859 | [1] | $693,991 | [1] | $15,975 | $773,927 | [1] | |
Balances, shares at Dec. 31, 2011 | 254,156 | ' | ' | ' | ' | ' | ||||
Net income | ' | ' | ' | 37,809 | [1] | 6,906 | 44,715 | [1] | ||
Unrealized gains (losses) on available-for-sale securities and reclassifications into net income, net | ' | 3,499 | ' | ' | ' | 3,499 | [1] | |||
Interest rate swap contract amortization of expense into net income, net | ' | 12,513 | ' | ' | ' | 12,513 | [1] | |||
Issuances of deferred stock and restricted stock and related tax matters, net of forfeitures | 21 | ' | -7,329 | [1] | ' | ' | -7,308 | [1] | ||
Issuances of deferred stock and restricted stock and related tax matters, net of forfeitures, shares | 2,177 | ' | ' | ' | ' | ' | ||||
Stock-based compensation expense | [1] | ' | ' | 6,887 | ' | ' | 6,887 | |||
Distributions to noncontrolling shareholders | ' | ' | ' | ' | -13,529 | -13,529 | [1] | |||
Purchases of subsidiary shares from noncontrolling shareholders | ' | ' | -25 | [1] | ' | -76 | -101 | [1] | ||
Noncontrolling shareholder interests in an acquired business | ' | ' | ' | ' | 1,917 | 1,917 | [1] | |||
Balances, value at Mar. 31, 2012 | 2,563 | -79,428 | 156,392 | [1] | 731,800 | [1] | 11,193 | 822,520 | [1] | |
Balances, shares at Mar. 31, 2012 | 256,333 | ' | ' | ' | ' | ' | ||||
Balances, value at Dec. 31, 2012 | 2,564 | -41,940 | 173,843 | [1] | 843,938 | [1] | 16,608 | 995,013 | [1] | |
Balances, shares at Dec. 31, 2012 | 256,394 | ' | ' | ' | ' | ' | ||||
Net income | ' | ' | ' | 23,688 | [1] | 4,665 | 28,353 | [1] | ||
Unrealized gains (losses) on available-for-sale securities and reclassifications into net income, net | ' | 1,748 | ' | ' | ' | 1,748 | [1] | |||
Interest rate swap contract amortization of expense into net income, net | ' | 11,231 | ' | ' | ' | 11,231 | [1] | |||
Exercises of stock options and related tax matters, value | 14 | ' | 13,181 | [1] | ' | ' | 13,195 | [1] | ||
Exercises of stock options and related tax matters, shares | 1,363 | ' | ' | ' | ' | ' | ||||
Issuances of deferred stock and restricted stock and related tax matters, net of forfeitures | 13 | ' | -8,040 | [1] | ' | ' | -8,027 | [1] | ||
Issuances of deferred stock and restricted stock and related tax matters, net of forfeitures, shares | 1,327 | ' | ' | ' | ' | ' | ||||
Stock-based compensation expense | [1] | ' | ' | 6,989 | ' | ' | 6,989 | |||
Distributions to noncontrolling shareholders | ' | ' | ' | ' | -13,987 | -13,987 | [1] | |||
Balances, value at Mar. 31, 2013 | $2,591 | ($28,961) | $185,973 | [1] | $867,626 | [1] | $7,286 | $1,034,515 | [1] | |
Balances, shares at Mar. 31, 2013 | 259,084 | ' | ' | ' | ' | ' | ||||
[1] | Restated |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Cash flows from operating activities: | ' | ' | ||
Consolidated net income | $28,353 | [1] | $44,715 | [1] |
Adjustments to reconcile consolidated net income to net cash provided by continuing operating activities: | ' | ' | ||
Depreciation and amortization | 97,123 | [1] | 81,109 | [1] |
Amortization related to interest rate swap contract | 18,356 | [1] | 20,453 | [1] |
Fair value adjustments related to interest rate swap contract | -700 | [1] | 16,268 | [1] |
Provision for doubtful accounts | 236,199 | [1] | 201,261 | [1] |
Stock-based compensation expense | 6,989 | [1] | 6,887 | [1] |
(Gains) losses on sales of assets, net | -90 | [1] | 2,337 | [1] |
Gains on sales of available-for-sale securities, net | -2,145 | [1] | -317 | [1] |
Write-off of deferred debt issuance costs | 584 | [1] | ' | |
Deferred income tax expense (benefit) | 12,909 | [1] | -9,636 | [1] |
Changes in assets and liabilities of continuing operations, net of the effects of acquisitions: | ' | ' | ||
Accounts receivable | -280,611 | [1] | -296,532 | [1] |
Supplies, prepaid expenses and other current assets | -621 | [1] | -5,516 | [1] |
Prepaid and recoverable income taxes | -2,851 | [1] | 31,063 | [1] |
Deferred charges and other long-term assets | -5,248 | [1] | -6,425 | [1] |
Accounts payable | -39,673 | [1] | -14,140 | [1] |
Accrued expenses and other liabilities | -44,945 | [1] | -9,462 | [1] |
Equity compensation excess income tax benefits | -4,388 | [1] | -1,400 | [1] |
Loss from discontinued operations, net | ' | [1] | 1,395 | [1] |
Net cash provided by continuing operating activities | 19,241 | [1] | 62,060 | [1] |
Cash flows from investing activities: | ' | ' | ||
Additions to property, plant and equipment | -61,040 | [1] | -80,790 | [1] |
Acquisitions of hospitals and other ancillary health care businesses | -1,525 | [1] | -81,617 | [1] |
Proceeds from sales of assets and insurance recoveries | 572 | [1] | 808 | [1] |
Purchases of available-for-sale securities | -416,776 | [1] | -439,701 | [1] |
Proceeds from sales of available-for-sale securities | 487,627 | [1] | 521,186 | [1] |
Decrease in restricted funds, net | 3,253 | [1] | 782 | [1] |
Net cash provided by (used in) continuing investing activities | 12,111 | [1] | -79,332 | [1] |
Cash flows from financing activities: | ' | ' | ||
Proceeds from long-term debt borrowings | 71,400 | [1] | ' | |
Principal payments on debt and capital lease obligations | -126,328 | [1] | -20,799 | [1] |
Payments for debt issuance costs | -1,588 | [1] | ' | |
Proceeds from exercises of stock options | 13,197 | [1] | ' | |
Cash received from noncontrolling shareholders | ' | 1,786 | [1] | |
Cash payments to noncontrolling shareholders | -14,236 | [1] | -17,886 | [1] |
Equity compensation excess income tax benefits | 4,388 | [1] | 1,400 | [1] |
Net cash used in continuing financing activities | -53,167 | [1] | -35,499 | [1] |
Net decrease in cash and cash equivalents before discontinued operations | -21,815 | [1] | -52,771 | [1] |
Net decreases in cash and cash equivalents from discontinued operations: | ' | ' | ||
Operating activities | ' | -2,960 | [1] | |
Investing activities | ' | -16 | [1] | |
Net decrease in cash and cash equivalents | -21,815 | [1] | -55,747 | [1] |
Cash and cash equivalents at the beginning of the period | 59,173 | [1] | 64,143 | [1] |
Cash and cash equivalents at the end of the period | $37,358 | [1] | $8,396 | [1] |
[1] | Restated |
Business_And_Basis_Of_Presenta
Business And Basis Of Presentation | 3 Months Ended | |
Mar. 31, 2013 | ||
Business And Basis Of Presentation [Abstract] | ' | |
Business And Basis Of Presentation | ' | |
1 | Business and Basis of Presentation | |
Health Management Associates, Inc. by and through its subsidiaries (collectively, “we,” “our” or “us”) provides health care services to patients in hospitals and other health care facilities in non-urban communities located primarily in the southeastern United States. As of March 31, 2013, we operated 70 hospitals in fifteen states with a total of 10,585 licensed beds, including twenty-two hospitals located in Florida, ten hospitals in Mississippi and nine hospitals in Tennessee. See Note 12 for information about an acquisition that we completed subsequent to March 31, 2013. | ||
Unless specifically indicated otherwise, all amounts and percentages presented in the notes below are exclusive of our discontinued operations, which are identified at Note 8. | ||
The condensed consolidated balance sheet as of December 31, 2012 is unaudited; however, it was derived from the audited consolidated financial statements included in our Annual Report on Form 10-K/A for the year ended December 31, 2012 (referred to as our “2012 Form 10-K”). The interim condensed consolidated financial statements as of March 31, 2013 and for the three months ended March 31, 2013 and 2012 are unaudited; however, such interim financial statements reflect all adjustments (consisting only of those of a normal recurring nature) that are, in our opinion, necessary for a fair presentation of our financial position, results of operations and cash flows. Our results of operations and cash flows for the interim periods presented are not necessarily indicative of the results to be expected for the full year due to, among other things, the seasonal nature of our business and changes in the economy and the health care regulatory environment. | ||
The interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Based on the SEC’s guidance, certain information and disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted. The interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in our 2012 Form 10-K. | ||
Our preparation of interim condensed consolidated financial statements requires us to make estimates and assumptions that affect the amounts reported in those financial statements and the accompanying notes. Actual results could differ from those estimates. | ||
Restatement_And_Revision_Of_Pr
Restatement And Revision Of Previously Reported Consolidated Financial Statements | 3 Months Ended | ||||||||
Mar. 31, 2013 | |||||||||
Restatement And Revision Of Previously Reported Consolidated Financial Statements [Abstract] | ' | ||||||||
Restatement And Revision Of Previously Reported Consolidated Financial Statements | ' | ||||||||
2. Restatement and Revision of Previously Reported Consolidated Financial Statements | |||||||||
We have restated our consolidated financial statements for the quarterly periods ended March 31, 2013 and 2012 due to an accounting error in our application of the requirements for certifying our electronic health record (“EHR”) technology under various Medicare and Medicaid HCIT programs. It was determined that 11 of our hospitals did not meet the “meaningful use” criteria necessary to qualify for HCIT incentive payments. We estimate that, between July 1, 2011 and June 30, 2013, we recognized as income HCIT incentive payments totaling approximately $31.0 million for the hospitals that did not meet the “meaningful use” criteria ($8.3 million, $17.3 million and $5.4 million related to 2011, 2012 and 2013, respectively). The impact of correcting the misstatement related to the HCIT payments for these 11 hospitals, as well as correction of unrelated immaterial errors, on our consolidated balance sheets and consolidated statements of income, comprehensive income and cash flows is as follows: | |||||||||
Three Months Ended March 31, 2013 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Statements of Income and Comprehensive Income | |||||||||
Net revenue before the provision for doubtful accounts | $ | 1,723,841 | $ | 187 | $ | 1,724,028 | |||
Provision for doubtful accounts | -240,879 | 4,680 | -236,199 | ||||||
Net revenue | 1,482,962 | 4,867 | 1,487,829 | ||||||
Salaries and benefits | 684,191 | 1,487 | 685,678 | ||||||
Supplies | 235,768 | - | 235,768 | ||||||
Rent expense | 42,156 | -75 | 42,081 | ||||||
Other operating expenses | 325,775 | -1,685 | 324,090 | ||||||
Medicare and Medicaid HCIT incentive programs | -3,826 | -156 | -3,982 | ||||||
Depreciation and amortization | 93,875 | -49 | 93,826 | ||||||
Interest expense | 69,429 | 2,062 | 71,491 | ||||||
Other | -1,891 | - | -1,891 | ||||||
Income from continuing operations before income taxes | 37,485 | 3,283 | 40,768 | ||||||
Provision for income taxes | -9,718 | -2,697 | -12,415 | ||||||
Income from continuing operations | 27,767 | 586 | 28,353 | ||||||
Loss from discontinued operations | - | - | - | ||||||
Consolidated net income | 27,767 | 586 | 28,353 | ||||||
Net income attributable to noncontrolling interests | -4,665 | - | -4,665 | ||||||
Net income attributable to Health Management Associates, Inc. | $ | 23,102 | $ | 586 | $ | 23,688 | |||
Comprehensive income | $ | 40,746 | $ | 586 | $ | 41,332 | |||
Earnings (loss) per share attributable to Health Management | |||||||||
Associates, Inc. common stockholders: | |||||||||
Basic and diluted | |||||||||
Continuing operations | $ | 0.09 | $ | - | $ | 0.09 | |||
Discontinued operations | - | - | - | ||||||
Net income | $ | 0.09 | $ | - | $ | 0.09 | |||
March 31, 2013 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Balance Sheet | |||||||||
Accounts receivable, less allowances for doubtful accounts | $ | 1,003,128 | $ | -12,101 | $ | 991,027 | |||
Prepaid and recoverable income taxes | 64,749 | -251 | 64,498 | ||||||
Other current assets | 342,429 | - | 342,429 | ||||||
Total current assets | 1,410,306 | -12,352 | 1,397,954 | ||||||
Net property, plant and equipment | 3,454,132 | 2,886 | 3,457,018 | ||||||
Goodwill | 1,024,142 | 1,681 | 1,025,823 | ||||||
Other long-term assets | 428,804 | - | 428,804 | ||||||
Total assets | $ | 6,317,384 | $ | -7,785 | $ | 6,309,599 | |||
Accounts payable | $ | 169,713 | - | $ | 169,713 | ||||
Accrued expenses and other liabilities | 531,643 | 25,131 | 556,774 | ||||||
Deferred income taxes | 42,611 | -15,525 | 27,086 | ||||||
Other current liabilities | 98,891 | 202 | 99,093 | ||||||
Total current liabilities | 842,858 | 9,808 | 852,666 | ||||||
Long-term debt and capital lease obligations, less current maturities | 3,411,004 | 7,191 | 3,418,195 | ||||||
Other long-term liabilities | 791,873 | 142 | 792,015 | ||||||
Redeemable equity securities | 212,208 | - | 212,208 | ||||||
Total stockholders’ equity | 1,059,441 | -24,926 | 1,034,515 | ||||||
Total liabilities and stockholders’ equity | $ | 6,317,384 | $ | -7,785 | $ | 6,309,599 | |||
Three Months Ended March 31, 2013 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Statements of Cash Flows | |||||||||
Operating activities: | |||||||||
Consolidated net income | $ | 27,767 | $ | 586 | $ | 28,353 | |||
Depreciation and amortization | 97,172 | -49 | 97,123 | ||||||
Provision for doubtful accounts | 240,879 | -4,680 | 236,199 | ||||||
Deferred tax expense | 12,148 | 761 | 12,909 | ||||||
Accounts receivable | -278,438 | -2,173 | -280,611 | ||||||
Prepaid and recoverable income taxes | -3,102 | 251 | -2,851 | ||||||
Accrued expenses and other liabilities | -50,147 | 5,202 | -44,945 | ||||||
Other cash flows from operating activities | -26,936 | - | -26,936 | ||||||
Net cash provided by continuing operating activities | 19,343 | -102 | 19,241 | ||||||
Investing activities: | |||||||||
Additions to property, plant and equipment | -61,142 | 102 | -61,040 | ||||||
Other cash flows from investing activities | 73,151 | - | 73,151 | ||||||
Net cash provided by continuing investing activities | 12,009 | 102 | 12,111 | ||||||
Net cash used in continuing financing activities | -53,167 | - | -53,167 | ||||||
Net decrease in cash and cash equivalents | -21,815 | - | -21,815 | ||||||
Cash and cash equivalents at the beginning of the year | 59,173 | - | 59,173 | ||||||
Cash and cash equivalents at the end of the year | $ | 37,358 | $ | - | $ | 37,358 | |||
Three Months Ended March 31, 2012 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Statements of Income and Comprehensive Income | |||||||||
Net revenue before the provision for doubtful accounts | $ | 1,686,518 | $ | -1,250 | $ | 1,685,268 | |||
Provision for the doubtful accounts | -201,261 | - | -201,261 | ||||||
Net revenue | 1,485,257 | -1,250 | 1,484,007 | ||||||
Salaries and benefits | 659,084 | -847 | 658,237 | ||||||
Supplies | 234,443 | - | 234,443 | ||||||
Rent expense | 45,025 | -75 | 44,950 | ||||||
Other operating expenses | 311,780 | 421 | 312,201 | ||||||
Medicare and Medicaid HCIT incentive programs | -4,590 | - | -4,590 | ||||||
Depreciation and amortization | 78,394 | -47 | 78,347 | ||||||
Interest expense | 88,763 | 102 | 88,865 | ||||||
Other | 1,640 | - | 1,640 | ||||||
Income from continuing operations before income taxes | 70,718 | -804 | 69,914 | ||||||
Provision for income taxes | -24,727 | 923 | -23,804 | ||||||
Income from continuing operations | 45,991 | 119 | 46,110 | ||||||
Loss from discontinued operations | -1,395 | - | -1,395 | ||||||
Consolidated net income | 44,596 | 119 | 44,715 | ||||||
Net income attributable to noncontrolling interests | -6,906 | - | -6,906 | ||||||
Net income attributable to Health Management Associates, Inc. | $ | 37,690 | $ | 119 | $ | 37,809 | |||
Comprehensive income | $ | 60,608 | $ | 119 | $ | 60,727 | |||
Earnings (loss) per share attributable to Health Management | |||||||||
Associates, Inc. common stockholders: | |||||||||
Basic | |||||||||
Continuing operations | $ | 0.15 | $ | - | $ | 0.15 | |||
Discontinued operations | - | - | - | ||||||
Net income | $ | 0.15 | $ | - | $ | 0.15 | |||
Diluted | |||||||||
Continuing operations | $ | 0.15 | $ | - | $ | 0.15 | |||
Discontinued operations | - | - | - | ||||||
Net income | $ | 0.15 | $ | - | $ | 0.15 | |||
December 31, 2012 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Balance Sheet | |||||||||
Accounts receivable, less allowances for doubtful accounts | $ | 976,872 | $ | -18,954 | $ | 957,918 | |||
Other current assets | 494,376 | - | 494,376 | ||||||
Total current assets | 1,471,248 | -18,954 | 1,452,294 | ||||||
Net property, plant and equipment | 3,463,052 | 2,838 | 3,465,890 | ||||||
Goodwill | 1,023,456 | 1,681 | 1,025,137 | ||||||
Other long-term assets | 443,033 | - | 443,033 | ||||||
Total assets | $ | 6,400,789 | $ | -14,435 | $ | 6,386,354 | |||
Accrued expenses and other liabilities | $ | 469,055 | $ | -5,242 | $ | 463,813 | |||
Due to third party payors | 26,470 | 25,172 | 51,642 | ||||||
Deferred income taxes | 45,170 | -16,144 | 29,026 | ||||||
Other current liabilities | 431,728 | 198 | 431,926 | ||||||
Total current liabilities | 972,423 | 3,984 | 976,407 | ||||||
Long-term debt and capital lease obligations, less current maturities | 3,433,260 | 7,093 | 3,440,353 | ||||||
Other long-term liabilities | 762,123 | - | 762,123 | ||||||
Redeemable equity securities | 212,458 | - | 212,458 | ||||||
Total stockholders’ equity | 1,020,525 | -25,512 | 995,013 | ||||||
Total liabilities and stockholders’ equity | $ | 6,400,789 | $ | -14,435 | $ | 6,386,354 | |||
Three Months Ended March 31, 2012 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Statements of Cash Flows | |||||||||
Operating activities: | |||||||||
Consolidated net income | $ | 44,596 | $ | 119 | $ | 44,715 | |||
Depreciation and amortization | 81,156 | -47 | 81,109 | ||||||
Deferred tax expense | -9,451 | -185 | -9,636 | ||||||
Accounts receivable | -297,782 | 1,250 | -296,532 | ||||||
Prepaid and recoverable income taxes | 31,380 | -317 | 31,063 | ||||||
Accounts payable | -13,293 | -847 | -14,140 | ||||||
Other cash flows from operating activities | 225,481 | - | 225,481 | ||||||
Net cash provided by continuing operating activities | 62,087 | -27 | 62,060 | ||||||
Investing activities: | |||||||||
Additions to property, plant and equipment | -80,817 | 27 | -80,790 | ||||||
Other cash flows from investing activities | 1,458 | - | 1,458 | ||||||
Net cash used in continuing investing activities | -79,359 | 27 | -79,332 | ||||||
Net cash used in continuing financing activities | -35,499 | - | -35,499 | ||||||
Discontinued operations | -2,976 | - | -2,976 | ||||||
Net decrease in cash and cash equivalents | -55,747 | - | -55,747 | ||||||
Cash and cash equivalents at the beginning of the year | 64,143 | - | 64,143 | ||||||
Cash and cash equivalents at the end of the year | $ | 8,396 | $ | - | $ | 8,396 | |||
The notes to the interim condensed consolidated financial statements have been restated for these adjustments as applicable. | |||||||||
Net_Revenue_Provision_For_Doub
Net Revenue, Provision For Doubtful Accounts, Cost Of Revenue And Other | 3 Months Ended | |||||||||||
Mar. 31, 2013 | ||||||||||||
Net Revenue, Provision For Doubtful Accounts, Cost Of Revenue And Other [Abstract] | ' | |||||||||||
Net Revenue, Provision For Doubtful Accounts, Cost Of Revenue And Other | ' | |||||||||||
3. Net Revenue, Provision for Doubtful Accounts, Cost of Revenue and Other | ||||||||||||
Net Revenue. We record gross patient service charges on the accrual basis in the period that the services are rendered. Net revenue before the provision for doubtful accounts represents gross patient service charges less provisions for contractual adjustments and uninsured self-pay patient discounts. Payments for services rendered to patients covered by Medicare, Medicaid and other government programs are generally less than billed charges and, therefore, provisions for contractual adjustments are made to reduce gross patient service charges to the estimated cash receipts based on each program’s principles of payment/reimbursement (i.e., either prospectively determined or retrospectively determined costs). Estimates of contractual allowances for services rendered to patients covered by commercial insurance, including managed care health plans, are primarily based on the payment terms of contractual arrangements, such as predetermined rates per diagnosis, per diem rates or discounted fee for service rates. Revenue and receivables from government programs are significant to our operations; however, we do not believe that there are substantive credit risks associated with such programs. There are no other concentrations of revenue or accounts receivable with any individual payor that subject us to significant credit or other risks. | ||||||||||||
In the ordinary course of business, we provide services to patients who are financially unable to pay for their care. Accounts identified as charity and indigent care are not recognized in net revenue before the provision for doubtful accounts. We maintain a company-wide policy whereby patient account balances are characterized as charity and indigent care only if the patient meets certain percentages of the federal poverty level guidelines. Local hospital personnel and our collection agencies pursue payments on accounts receivable from patients who do not meet such criteria. For uninsured self-pay patients who do not qualify for charity and indigent care treatment, we recognize net revenue before the provision for doubtful accounts using our standard gross patient service charges, less discounts of 60% or more for non-elective procedures. Because a significant portion of uninsured self-pay patients will be unable or unwilling to pay for their care, we record a significant provision for doubtful accounts in the period that the services are provided to those patients. | ||||||||||||
Net revenue before the provision for doubtful accounts, by major payor source, is summarized in the table below (dollars in thousands). | ||||||||||||
Three Months Ended | Three Months Ended | |||||||||||
31-Mar-13 | 31-Mar-12 | |||||||||||
Medicare | $ | 512,401 | 29.7 | % | $ | 503,893 | 29.9 | % | ||||
Medicaid | 177,449 | 10.3 | 180,289 | 10.7 | ||||||||
Commercial insurance | 820,294 | 47.6 | 817,151 | 48.5 | ||||||||
Self-pay | 171,547 | 10.0 | 163,435 | 9.7 | ||||||||
Other | 42,337 | 2.4 | 20,500 | 1.2 | ||||||||
$ | 1,724,028 | 100.0 | % | $ | 1,685,268 | 100.0 | % | |||||
Provision for Doubtful Accounts and Related Other. We grant credit without requiring collateral from our patients, most of whom live near our hospitals and are insured under third party payor agreements. The credit risk for non-governmental accounts receivable, excluding uninsured self-pay patients, is limited due to the large number of insurance companies and other payors that provide payment and reimbursement for patient services. Accounts receivable are reported net of estimated allowances for doubtful accounts. | ||||||||||||
Collection of accounts receivable from third party payors and patients is our primary source of cash and is therefore critical to our successful operating performance. Accordingly, we regularly monitor our cash collection trends and the aging of our accounts receivable by major payor source. Our collection risks principally relate to uninsured self-pay patient accounts and patient accounts for which the primary insurance payor has paid but patient responsibility amounts (generally deductibles and co-payments) remain outstanding. Provisions for doubtful accounts are primarily estimated based on cash collection analyses by major payor classification and accounts receivable aging reports. For accounts receivable associated with services provided to patients who have governmental and/or commercial insurance coverage, we analyze contractually due amounts and record an allowance for doubtful accounts as necessary. For accounts receivable associated with self-pay patients, which includes both patients without insurance and patients with deductible and co-payment balances due for which third party coverage exists for part of the bill, we record a significant provision for doubtful accounts in the period of service because many patients will not pay the portion of their bill for which they are financially responsible. We monitor the aging of accounts receivable from self-pay patients and record supplemental provisions for doubtful accounts when our likelihood of collection deteriorates. | ||||||||||||
When considering the adequacy of the allowance for doubtful accounts, our accounts receivable balances are reviewed in conjunction with historical collection rates, health care industry trends/indicators and other business and economic conditions that might reasonably be expected to affect the collectability of patient accounts. Accounts receivable are written off after collection efforts have been pursued in accordance with our policies and procedures. Accounts written off as uncollectible are deducted from the allowance for doubtful accounts and subsequent recoveries are netted against the provision for doubtful accounts. Changes in payor mix, general economic conditions or federal and state government health care coverage could each have a material adverse effect on our accounts receivable collections, cash flows and results of operations. | ||||||||||||
Cost of Revenue. The presentation of costs and expenses in our consolidated statements of income does not differentiate between costs of revenue and other costs because substantially all such costs and expenses relate to providing health care services. Furthermore, we believe that the natural classification of expenses is the most meaningful presentation of our operations. Amounts that could be classified as general and administrative expenses, which include the costs of our home office as well as our regional service centers, were approximately $82.5 million and $66.2 million during the three months ended March 31, 2013 and 2012, respectively. | ||||||||||||
Electronic Health Record Incentive Programs. Using a gain contingency model, we recognize benefits under the various Medicare and Medicaid Healthcare Information Technology programs (collectively, the “HCIT Programs”) in our consolidated statements of income when the eligible hospitals and physician practices have demonstrated meaningful use of certified electronic health record technology during the period and, if applicable, the cost report information for the full cost report year that will determine the final calculation of the incentive payment is available. In addition, HCIT incentive payments previously recognized as income are subject to audit and potential recoupment if it is determined that we did not meet the applicable meaningful use standards required in connection with such incentive payments. | ||||||||||||
During the three months ended March 31, 2013 and 2012, we recognized benefits in our consolidated statements of income of approximately $4.0 million and $4.6 million, respectively, related to the HCIT Programs. Included in our condensed consolidated balance sheets at March 31, 2013 and December 31, 2012 were receivables under the HCIT Programs of $9.6 million and $11.7 million, respectively. The corresponding deferred incentive payment liabilities were $19.0 million and $19.2 million at March 31, 2013 and December 31, 2012, respectively. See Note 2 for information relating to the restatement of these amounts. | ||||||||||||
LongTerm_Debt_And_Capital_Leas
Long-Term Debt And Capital Lease Obligations | 3 Months Ended | |||||
Mar. 31, 2013 | ||||||
Long-Term Debt And Capital Lease Obligations [Abstract] | ' | |||||
Long-Term Debt And Capital Lease Obligations | ' | |||||
4. Long-Term Debt and Capital Lease Obligations | ||||||
The following discussion of our long-term debt and capital lease obligations should be read in conjunction with Notes 3 and 4 to the audited consolidated financial statements included in our 2012 Form 10-K. The table below summarizes our long-term debt and capital lease obligations by major component (in thousands). | ||||||
31-Mar-13 | 31-Dec-12 | |||||
Bank borrowings: | ||||||
Revolving credit facilities | $ | - | $ | - | ||
Term Loan A (as defined below) | 646,750 | 670,625 | ||||
Term Loan B (as defined below), net of discounts | 1,350,252 | 1,374,318 | ||||
7.375% Senior Notes due 2020 | 875,000 | 875,000 | ||||
6.125% Senior Notes due 2016, net of discounts | 398,877 | 398,785 | ||||
3.75% Convertible Senior Subordinated Notes due 2028, net of discounts | 86,545 | 85,522 | ||||
Installment notes and other long-term debt | 13,482 | 13,988 | ||||
Capital lease obligations | 146,382 | 148,377 | ||||
Long-term debt and capital lease obligations | 3,517,288 | 3,566,615 | ||||
Less current maturities | -99,093 | -126,262 | ||||
Long-term debt and capital lease obligations, less current maturities | $ | 3,418,195 | $ | 3,440,353 | ||
Bank Borrowings. Our bank borrowings include variable rate senior secured credit facilities with a syndicate of banks (collectively, the “Credit Facilities”) that we entered into on November 18, 2011. At that date, the Credit Facilities consisted of: (i) a $500.0 million five-year revolving credit facility (the “Revolving Credit Agreement”); (ii) a $725.0 million five-year term loan (the “Term Loan A”); and (iii) a $1.4 billion seven-year term loan (the “Term Loan B”). On March 20, 2013, we amended the loan agreement underlying the Credit Facilities (the “Amendment”) in order to, among other things, provide for the refinancing of the then outstanding balance under the Term Loan B. The principal payments were unchanged, however, the Term Loan B is now subject to a prepayment premium equal to 1.0% of the principal amount that is repriced or prepaid on or before September 20, 2013. | ||||||
We can elect whether interest on borrowings under the Credit Facilities is determined using LIBOR or the Base Rate (as defined in the loan agreement). The effective interest rates on such borrowings, which fluctuate with market changes, include a spread above the base rate that we select. Through March 20, 2013, the effective interest rate for the Term Loan B was subject to a floor of 1.0% and 2.0% (before consideration of the interest rate spread) when using LIBOR and the Base Rate, respectively. The Amendment reduced both such interest rate floors under the Term Loan B by 0.25%. The amount of the interest rate spread is predicated on, among other things, our Consolidated Leverage Ratio (as defined in the loan agreement). The Amendment reduced the interest rate spread on the Term Loan B by 0.75%. We can elect differing interest rates for each of the debt instruments under the Credit Facilities. As of March 31, 2013, the effective interest rates on the Term Loan A and the Term Loan B were 2.8% and 3.5%, respectively. Those rates remained unchanged as of May 1, 2013. | ||||||
The Revolving Credit Agreement provides that we can borrow, on a revolving basis, up to an aggregate of $500.0 million, as adjusted for outstanding standby letters of credit of up to $75.0 million. During the three months ended March 31, 2013, there were borrowings of $71.4 million under the Revolving Credit Agreement, all of which were repaid prior to March 31, 2013. There were no such borrowings for the three months ended March 31, 2012. On April 1, 2013, we borrowed $210.0 million under the Revolving Credit Agreement to fund the entire purchase price of an acquisition that we completed on that date (see Note 12 for information about such acquisition). As of May 1, 2013, the amount available for borrowing under the Revolving Credit Agreement was approximately $268.6 million, which reflected the then outstanding balance of $178.5 million thereunder and $52.9 million of standby letters of credit in favor of third parties. The effective interest rate on the variable rate Revolving Credit Agreement was approximately 2.8% and 3.0% on March 31, 2013 and May 1, 2013, respectively. | ||||||
The Credit Facilities are subject to mandatory prepayment in amounts equal to 50% of our Excess Cash Flow (as defined in the amended loan agreement) with step-downs of such percentage based on our Consolidated Leverage Ratio. Based on our Excess Cash Flow for the year ended December 31, 2012, we repaid approximately $31.5 million of additional principal under the Credit Facilities during the three months ended March 31, 2013. As a result of such principal repayment, we wrote off $0.4 million of deferred debt issuance costs. | ||||||
Other. Cash paid for interest on our long-term debt and capital lease obligations during the three months ended March 31, 2013 and 2012, including amounts that have been capitalized, was approximately $76.3 million and $50.0 million, respectively. We entered into capital leases and other similar arrangements for real property and equipment aggregating $3.3 million and $6.2 million during the three months ended March 31, 2013 and 2012, respectively. | ||||||
See Note 6 for information regarding the estimated fair values of our long-term debt instruments. Additionally, see Note 13 for summarized financial information in respect of our subsidiaries that provide joint and severable guarantees of payment for certain of our long-term debt obligations. | ||||||
At March 31, 2013, we were in compliance with all of the covenants contained in our debt agreements. | ||||||
Earnings_Per_Share_And_Related
Earnings Per Share And Related Other | 3 Months Ended | |||||
Mar. 31, 2013 | ||||||
Earnings Per Share And Related Other [Abstract] | ' | |||||
Earnings Per Share And Related Other | ' | |||||
5.Earnings Per Share and Related Other | ||||||
Basic earnings per share is computed based on the weighted average number of outstanding common shares. Diluted earnings per share is computed based on the weighted average number of outstanding common shares plus the dilutive effect of common stock equivalents, primarily computed using the treasury stock method. The table below sets forth the computations of basic and diluted earnings per share for the common stockholders of Health Management Associates, Inc. (in thousands, except per share amounts). | ||||||
Three Months Ended March 31, | ||||||
2013 | 2012 | |||||
Numerators: | ||||||
Income from continuing operations | $ | 28,353 | $ | 46,110 | ||
Income attributable to noncontrolling interests | -4,665 | -6,906 | ||||
Income from continuing operations attributable to Health | ||||||
Management Associates, Inc. common stockholders | 23,688 | 39,204 | ||||
Loss from discontinued operations attributable to Health | ||||||
Management Associates, Inc. common stockholders | - | -1,395 | ||||
Net income attributable to Health Management | ||||||
Associates, Inc. common stockholders | $ | 23,688 | $ | 37,809 | ||
Denominators: | ||||||
Denominator for basic earnings per share-weighted | ||||||
average number of outstanding common shares | 256,152 | 253,316 | ||||
Dilutive securities: stock-based compensation arrangements | 4,398 | 2,383 | ||||
Denominator for diluted earnings per share | 260,550 | 255,699 | ||||
Earnings per share: | ||||||
Basic | ||||||
Continuing operations | $ | 0.09 | $ | 0.15 | ||
Discontinued operations | - | - | ||||
Net income | $ | 0.09 | $ | 0.15 | ||
Diluted | ||||||
Continuing operations | $ | 0.09 | $ | 0.15 | ||
Discontinued operations | - | - | ||||
Net income | $ | 0.09 | $ | 0.15 | ||
Securities excluded from diluted earnings per share because they | ||||||
were antidilutive or performance conditions were not met: | ||||||
Stock options | 2,225 | 4,586 | ||||
Deferred stock and restricted stock | 525 | 967 | ||||
During the three months ended March 31, 2013, we granted new deferred stock awards to senior executive officers, key managers and independent directors. Underlying those awards were 3.0 million shares of our common stock that will vest 25% per annum if the individual remains an independent director or employee of ours, subject to, in some circumstances, the satisfactory achievement of certain predetermined performance criteria. | ||||||
Fair_Value_Measurements_Availa
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds | 3 Months Ended | ||||||||||||
Mar. 31, 2013 | |||||||||||||
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds [Abstract] | ' | ||||||||||||
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds | ' | ||||||||||||
6.Fair Value Measurements, Available-For-Sale Securities and Restricted Funds | |||||||||||||
General. GAAP defines fair value as the amount that would be received for an asset or paid to transfer a liability (i.e., an exit price) in the principal market for the asset or liability in an orderly transaction between market participants on the measurement date. GAAP also establishes a hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. GAAP describes the following three levels of inputs that may be used: | |||||||||||||
Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets and liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. | |||||||||||||
Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data. | |||||||||||||
Level 3:Unobservable inputs when there is little or no market data available, thereby requiring an entity to develop its own assumptions. The fair value hierarchy gives the lowest priority to Level 3 inputs. | |||||||||||||
We recognize transfers between levels within the fair value hierarchy on the date of the change in circumstances that requires such transfer. We began classifying all of our fixed income available-for-sale securities as Level 2 in the first quarter of 2013 and have recast $175.4 million of those securities at December 31, 2012. The table below summarizes the estimated fair values of certain of our financial assets (liabilities) (in thousands). | |||||||||||||
Level 1 | Level 2 | Level 3 | Totals | ||||||||||
As of March 31, 2013: | |||||||||||||
Available-for-sale securities, including | |||||||||||||
those in restricted funds | $ | 52,090 | $ | 151,807 | $ | - | $ | 203,897 | |||||
Interest rate swap contract | $ | - | $ | -71,785 | $ | - | $ | -71,785 | |||||
As of December 31, 2012: | |||||||||||||
Available-for-sale securities, including | |||||||||||||
those in restricted funds | $ | 51,156 | $ | 222,007 | $ | - | $ | 273,163 | |||||
Interest rate swap contract | $ | - | $ | -93,045 | $ | - | $ | -93,045 | |||||
The estimated fair values of our Level 1 available-for-sale securities were primarily determined by reference to quoted market prices. Our Level 2 available-for-sale securities primarily consisted of: (i) bonds and notes issued by the United States government and its agencies, domestic and foreign corporations and foreign governments; and (ii) preferred securities issued by domestic and foreign corporations. The estimated fair values of these securities are determined using various valuation techniques, including a multi-dimensional relational model that incorporates standard observable inputs and assumptions such as benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids/offers and other pertinent reference data. | |||||||||||||
The estimated fair value of our interest rate swap contract, which is discussed at Note 3(a) to the audited consolidated financial statements included in our 2012 Form 10-K, was determined using a model that considers various inputs and assumptions, including LIBOR swap rates, cash flow activity, forward yield curves and other relevant economic measures, all of which are observable market inputs that are classified under Level 2 of the fair value hierarchy. The model also incorporates valuation adjustments for credit risk. The table below summarizes our balance sheet classification of the estimated fair values of our interest rate swap contract liabilities (in thousands). | |||||||||||||
31-Mar-13 | 31-Dec-12 | ||||||||||||
Accrued expenses and other liabilities | $ | 71,785 | $ | 84,277 | |||||||||
Other long-term liabilities | - | 8,768 | |||||||||||
Totals | $ | 71,785 | $ | 93,045 | |||||||||
Cash and cash equivalents, net accounts receivable, accounts payable and accrued expenses and other liabilities are reflected in the condensed consolidated balance sheets at their estimated fair values primarily due to their short-term nature. | |||||||||||||
The estimated fair values of our long-term debt instruments, which are discussed at Note 4, are determined by reference to quoted market prices and/or bid and ask prices in the relevant market. The following table summarizes the estimated fair values of our debt securities (in thousands) and indicates their corresponding level within the fair value hierarchy. | |||||||||||||
31-Mar-13 | 31-Dec-12 | ||||||||||||
Level 1: | |||||||||||||
6.125% Senior Notes due 2016 | $ | 441,000 | $ | 434,000 | |||||||||
7.375% Senior Notes due 2020 | 962,500 | 945,000 | |||||||||||
3.75% Convertible Senior Subordinated Notes due 2028 | 120,299 | 100,948 | |||||||||||
Level 2: | |||||||||||||
Term Loan A | 649,143 | 672,704 | |||||||||||
New Term Loan B/Term Loan B | 1,375,681 | 1,397,227 | |||||||||||
The estimated fair values of our other long-term debt instruments reasonably approximate their carrying amounts in the condensed consolidated balance sheets. | |||||||||||||
Available-For-Sale Securities (including those in restricted funds). Supplemental information regarding our available-for-sale securities (all of which had no withdrawal restrictions) is set forth in the table below (in thousands). | |||||||||||||
Gross | Gross | ||||||||||||
Amortized | Unrealized | Unrealized | Estimated | ||||||||||
Cost | Gains | Losses | Fair Values | ||||||||||
As of March 31, 2013: | |||||||||||||
Debt securities and debt-based mutual funds | |||||||||||||
Government | $ | 49,053 | $ | 520 | $ | -307 | $ | 49,266 | |||||
Corporate | 88,939 | 3,501 | -47 | 92,393 | |||||||||
Equity securities and equity-based mutual funds | |||||||||||||
Domestic | 35,379 | 6,598 | -137 | 41,840 | |||||||||
International | 17,122 | 2,168 | -296 | 18,994 | |||||||||
Commodity-based mutual fund | 1,458 | - | -54 | 1,404 | |||||||||
Totals | $ | 191,951 | $ | 12,787 | $ | -841 | $ | 203,897 | |||||
As of December 31, 2012: | |||||||||||||
Debt securities and debt-based mutual funds | |||||||||||||
Government | $ | 120,415 | $ | 692 | $ | -321 | $ | 120,786 | |||||
Corporate | 85,843 | 3,271 | -10 | 89,104 | |||||||||
Equity securities and equity-based mutual funds | |||||||||||||
Domestic | 37,825 | 4,307 | -234 | 41,898 | |||||||||
International | 18,005 | 1,766 | -219 | 19,552 | |||||||||
Commodity-based mutual fund | 1,823 | - | - | 1,823 | |||||||||
Totals | $ | 263,911 | $ | 10,036 | $ | -784 | $ | 273,163 | |||||
As of March 31, 2013 and December 31, 2012, investments with aggregate estimated fair values of approximately $55.1 million (146 investments) and $123.8 million (195 investments), respectively, generated the gross unrealized losses disclosed in the above table. We concluded that other-than-temporary impairment charges were not necessary for such gross unrealized losses at either of the balance sheet dates because of, among other things, recent declines in the value of the affected securities and/or our brief holding period (i.e., most of such securities have been held for less than one year), as well as our ability to hold the securities for a reasonable period of time sufficient for a projected recovery of fair value. We will continue to monitor and evaluate the recoverability of our available-for-sale securities. | |||||||||||||
The contractual maturities of debt-based securities held by us as of March 31, 2013, excluding mutual fund holdings, are set forth in the table below. Expected maturities will differ from contractual maturities because the issuers of the debt securities may have the right to prepay their obligations without prepayment penalties. | |||||||||||||
Amortized | Estimated | ||||||||||||
Cost | Fair Values | ||||||||||||
(in thousands) | |||||||||||||
Within 1 year | $ | 306 | $ | 323 | |||||||||
After 1 year and through year 5 | 9,761 | 10,110 | |||||||||||
After 5 years and through year 10 | 9,804 | 10,386 | |||||||||||
After 10 years | 13,952 | 14,252 | |||||||||||
The weighted average cost method is used to calculate the historical cost basis of securities that are sold. Gross realized gains and losses on sales of available-for-sale securities and other investment income, which includes interest and dividends, are summarized in the table below (in thousands). | |||||||||||||
Three Months Ended March 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Realized gains | $ | 2,342 | $ | 875 | |||||||||
Realized losses | -338 | -558 | |||||||||||
Investment income | 1,565 | 1,422 | |||||||||||
Restricted Funds. Our restricted funds, which consisted solely of available-for-sale securities at both March 31, 2013 and December 31, 2012, are held by a wholly owned captive insurance subsidiary that is domiciled in the Cayman Islands. The assets of such subsidiary are effectively limited to use in its proprietary operations. Supplemental information regarding the available-for-sale securities that are included in restricted funds is set forth in the table below (in thousands). | |||||||||||||
Three Months Ended March 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Proceeds from sales | $ | 15,502 | $ | 10,001 | |||||||||
Purchases | 11,363 | 9,241 | |||||||||||
Acquisitions_Joint_Ventures_An
Acquisitions, Joint Ventures And Other Activity | 3 Months Ended | ||||||
Mar. 31, 2013 | |||||||
Acquisitions, Joint Ventures And Other Activity [Abstract] | ' | ||||||
Acquisitions, Joint Ventures And Other Activity | ' | ||||||
7.Acquisitions, Joint Ventures and Other Activity | |||||||
Acquisition Activity. The acquisitions described below were in furtherance of the part of our business strategy that calls for the acquisition of hospitals and other ancillary health care businesses in non-urban communities. Additionally, see Note 12 for discussion of an acquisition that we completed subsequent to March 31, 2013. Our acquisitions are typically financed using a combination of available cash balances, proceeds from sales of available-for-sale securities, borrowings under revolving credit agreements and other long-term financing arrangements. The operating results of entities that are acquired by our subsidiaries are included in our consolidated financial statements from the date of acquisition. | |||||||
During the three months ended March 31, 2013 and 2012, certain of our subsidiaries acquired ancillary health care businesses for aggregate cash consideration of approximately $1.5 million and $4.5 million, respectively. | |||||||
Effective April 1, 2012, one of our subsidiaries acquired from a subsidiary of INTEGRIS Health, Inc. (“Integris”) an 80% interest in five Oklahoma-based general acute care hospitals with a total of 218 beds and certain related health care operations. A subsidiary of Integris retained a 20% interest in each of these entities. The net purchase price for our 80% interest was approximately $61.9 million in cash. However, the gross purchase price (representing ownership of 100% of the affected entities) and certain other amounts that pertained to this acquisition, all of which aggregated $77.1 million, were deposited by us into an escrow account during March 2012. | |||||||
Other. Our acquisitions are accounted for using the purchase method of accounting. We use estimated exit price fair values as of the date of acquisition to (i) allocate the related purchase price to the assets acquired and liabilities assumed and (ii) record noncontrolling interests. We use a variety of techniques to estimate exit price fair values, including, but not limited to, valuation methodologies that derive fair values using a market approach based on comparable transactions and an approach based on depreciated replacement cost. We recorded incremental goodwill during each of the three months ended March 31, 2013 and 2012 because the final negotiated purchase price in certain of our completed acquisitions exceeded the fair value of the net tangible and intangible assets acquired. Most of the goodwill that was added during those periods is expected to be tax deductible. | |||||||
Acquisition-related costs have been included in other operating expenses in the consolidated statements of income; however, such costs for each of the three months ended March 31, 2013 and 2012 were not material. | |||||||
Joint Ventures and Redeemable Equity Securities. As of March 31, 2013, we had established joint ventures to own/lease and operate 28 of our hospitals. Local physicians and/or other health care entities own minority equity interests in each of the joint ventures and participate in the related hospital’s governance. We own a majority of the equity interests in each joint venture and manage the related hospital’s day-to-day operations. | |||||||
When completing a joint venture transaction, our subsidiary that is a party to the joint venture customarily issues equity securities that provide the noncontrolling shareholders with certain rights to require our subsidiary to redeem such securities. Redeemable equity securities with redemption features that are not solely within our control are classified outside of permanent equity. Those securities are initially recorded at their estimated fair value on the date of issuance. Securities that are currently redeemable or redeemable after the passage of time are adjusted to their redemption value as changes occur. If it is unlikely that a redeemable equity security will ever require redemption then subsequent adjustments to the initially recorded amount will only be recognized in the period that a redemption becomes probable. | |||||||
As recorded in the condensed consolidated balance sheets, redeemable equity securities represent the minimum amounts that can be unilaterally redeemed for cash by noncontrolling shareholders in respect of their subsidiary equity holdings or the initial unadjusted estimated fair values of contingent rights held by certain noncontrolling shareholders. Through May 1, 2013, the mandatory redemptions requested by noncontrolling shareholders in respect of their subsidiary equity holdings have been nominal. A rollforward of our redeemable equity securities is summarized in the table below (in thousands). | |||||||
Three Months Ended March 31, | |||||||
2013 | 2012 | ||||||
Balances at the beginning of the period | $ | 212,458 | $ | 200,643 | |||
Investments by noncontrolling shareholders | - | 1,786 | |||||
Purchases of subsidiary shares from and distributions to noncontrolling shareholders | -250 | -4,256 | |||||
Balances at the end of the period | $ | 212,208 | $ | 198,173 | |||
Upon the occurrence of certain events that are defined in the underlying operating agreements, some noncontrolling shareholders may require our affected subsidiary to purchase their minority equity holdings. We believe that it is not probable that the contingent rights of such noncontrolling shareholders will vest because there are no circumstances known to us that would trigger such equity repurchase obligations of our subsidiaries. Accordingly, insofar as the contingent rights are concerned, the carrying values of the related redeemable equity securities have not been adjusted since being initially recorded. | |||||||
Discontinued_Operations_And_As
Discontinued Operations And Assets Held For Sale | 3 Months Ended | ||
Mar. 31, 2013 | |||
Discontinued Operations And Assets Held For Sale [Abstract] | ' | ||
Discontinued Operations And Assets Held For Sale | ' | ||
8.Discontinued Operations and Assets Held for Sale | |||
Our discontinued operations during the periods presented herein included: (i) the 172-bed Woman’s Center at Dallas Regional Medical Center in Mesquite, Texas, which was closed in 2008 and the related real property of which was sold on May 21, 2012; (ii) 25-bed St. Mary’s Medical Center of Scott County in Oneida, Tennessee, which was returned to the lessor on May 24, 2012; and (iii) the 293-bed idle Riverside hospital campus (“Riverside”) in Knoxville, Tennessee. The operating results and cash flows of discontinued operations are included in our consolidated financial statements up to the date of disposition. Additionally, as required by GAAP, the operating results and cash flows of the abovmentioned entities have been separately presented as discontinued operations in the interim condensed consolidated financial statements. Long-lived assets to be disposed of are reported at the lower of their carrying amount or estimated fair value, less costs to sell. The estimates of fair value are based on recent sales of similar assets, market analyses, pending disposition transactions and market responses based on discussions with, and offers received from, potential buyers (i.e., Level 2 inputs under the GAAP fair value hierarchy described at Note 6). | |||
One of our subsidiaries acquired Riverside on September 30, 2011. The hospital at the Riverside location was closed prior to our acquisition. Although we are currently evaluating various disposal alternatives, the timing of a divestiture of Riverside has not yet been determined. At both March 31, 2013 and December 31, 2012, the assets held for sale in our condensed consolidated balance sheets were comprised of the remaining property, plant and equipment at the location. | |||
The table below sets forth the underlying details of our discontinued operations (in thousands) during the three months ended March 31, 2012 (there was no such activity during the three months ended March 31, 2013). | |||
Net revenue before the provision for doubtful accounts | $ | 4,334 | |
Provision for doubtful accounts | -549 | ||
Net revenue | 3,785 | ||
Salaries and benefits | 2,174 | ||
Depreciation and amortization | 1,373 | ||
Other operating expenses | 2,516 | ||
6,063 | |||
Loss before income taxes | -2,278 | ||
Income tax benefit | 883 | ||
Loss from discontinued operations | $ | -1,395 | |
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2013 | |
Income Taxes [Abstract] | ' |
Income Taxes | ' |
9.Income Taxes | |
Our effective income tax rates were approximately 30.5% and 34.0% during the three months ended March 31, 2013 and 2012, respectively. Net income attributable to noncontrolling interests, which is not tax-effected in our consolidated financial statements, reduced our effective income tax rates by approximately 390 basis points and 370 basis points during the three months ended March 31, 2013 and 2012, respectively. | |
Our provision for income taxes during the three months ended March 31, 2013 was favorably impacted by the satisfactory conclusion of certain state tax audits and examinations. | |
Our net federal and state income tax payments during the three months ended March 31, 2013 and 2012 approximated $3.4 million and $2.8 million, respectively. | |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended | ||||||||
Mar. 31, 2013 | |||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||
10.Accumulated Other Comprehensive Income (Loss) | |||||||||
GAAP defines comprehensive income as the change in equity of a business enterprise from transactions and other events and circumstances that relate to non-owner sources. Rollforwards of our accumulated other comprehensive income (loss) are presented in the table below (in thousands). | |||||||||
Unrealized Gains | |||||||||
(Losses) on | |||||||||
Available-for-Sale | Interest Rate | ||||||||
Securities | Swap Contract | Totals | |||||||
Balances at January 1, 2013, net of income taxes of $27,192 | $ | 6,017 | $ | -47,957 | $ | -41,940 | |||
Unrealized gains (losses) on available-for-sale securities, | |||||||||
net of income taxes of $1,444 | 2,676 | - | 2,676 | ||||||
Adjustments for net (gains) losses reclassified into net | |||||||||
income, net of income taxes of $(499) | -928 | - | -928 | ||||||
Reclassification adjustments for amortization of expense | |||||||||
into net income, net of income taxes of $7,125 | - | 11,231 | 11,231 | ||||||
Balances at March 31, 2013, net of income taxes of $19,122 | $ | 7,765 | $ | -36,726 | $ | -28,961 | |||
Balances at January 1, 2012, net of income taxes of $60,635 | $ | 831 | $ | -96,271 | $ | -95,440 | |||
Unrealized gains (losses) on available-for-sale securities, | |||||||||
net of income taxes of $1,792 | 3,327 | - | 3,327 | ||||||
Adjustments for net (gains) losses reclassified into net | |||||||||
income, net of income taxes of $92 | 172 | - | 172 | ||||||
Reclassification adjustments for amortization of expense | |||||||||
into net income, net of income taxes of $7,940 | - | 12,513 | 12,513 | ||||||
Balances at March 31, 2012, net of income taxes of $50,811 | $ | 4,330 | $ | -83,758 | $ | -79,428 | |||
Supplemental information about our accumulated other comprehensive income (loss) reclassification adjustments is summarized in the table below (in thousands). | |||||||||
Three Months Ended March 31, | Affected Line Item in the | ||||||||
2013 | 2012 | Consolidated Statements of Income | |||||||
Available-for-sale securities | $ | -1,427 | $ | 264 | Other | ||||
Income tax expense | 499 | -92 | Provision for income taxes | ||||||
Available-for-sale securities, net reclassification | $ | -928 | $ | 172 | Consolidated net income | ||||
Interest rate swap contract | $ | 18,356 | $ | 20,453 | Interest expense | ||||
Income tax expense | -7,125 | -7,940 | Provision for income taxes | ||||||
Interest rate swap contract, net reclassification | $ | 11,231 | $ | 12,513 | Consolidated net income | ||||
Prior to a debt restructuring that we completed on November 18, 2011, which is discussed at Note 4 herein and at Note 3 to the audited consolidated financial statements included in our 2012 Form 10-K, our interest rate swap contract had been a perfectly effective cash flow hedge instrument that was used to manage the risk of variable interest rate fluctuation on certain long-term debt. Changes in the estimated fair value of our interest rate swap contract were previously recognized as a component of other comprehensive income (loss). Because of our debt restructuring, the interest rate swap contract is no longer an effective cash flow hedge instrument. Therefore, changes in its estimated fair value subsequent to our debt restructuring are no longer included in other comprehensive income (loss) but are recognized in our consolidated statements of income as a component of interest expense. Future amortization of the accumulated other comprehensive loss attributable to our interest rate swap contract is expected to approximate $60.0 million during the period from April 1, 2013 to the expiration of the interest rate swap contract in February 2014. | |||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 3 Months Ended |
Mar. 31, 2013 | |
Commitments And Contingencies [Abstract] | ' |
Commitments And Contingencies | ' |
11.Commitments and Contingencies | |
Physician and Physician Group Guarantees. We are committed to providing financial assistance to physicians and physician groups practicing in the communities that our hospitals serve through certain recruiting arrangements and professional services agreements. At March 31, 2013, we were committed to guarantees of approximately $198.9 million under such arrangements. The actual amounts advanced will depend on the financial results of each physician’s and physician group’s private practice during the related contractual measurement period, which generally approximates one to two years. We believe that the recorded liabilities for physician and physician group guarantees of $72.9 million and $89.7 million at March 31, 2013 and December 31, 2012, respectively, are adequate and reasonable; however, there can be no assurances that the ultimate liability will not exceed our estimates. | |
Ascension Health Lawsuit. On February 14, 2006, Health Management Associates, Inc. (referred to as “Health Management” for the remainder of this Note 11) announced the termination of non-binding negotiations with Ascension Health (“Ascension”) and the withdrawal of a non-binding offer to acquire Ascension’s St. Joseph Hospital, a general acute care hospital in Augusta, Georgia. On June 8, 2007, certain Ascension subsidiaries filed a lawsuit against Health Management, entitled St. Joseph Hospital, Augusta, Georgia, Inc. et al. v. Health Management Associates, Inc., in Georgia Superior/State Court of Richmond County claiming that Health Management (i) breached an agreement to purchase St. Joseph Hospital and (ii) violated a confidentiality agreement. The plaintiffs claim at least $40 million in damages. Health Management removed the case to the U.S. District Court for the Southern District of Georgia, Augusta Division (Case No. 1:07-CV-00104). On July 13, 2010, the plaintiffs filed a motion for partial summary judgment and Health Management filed a motion for summary judgment. On March 30, 2011, Health Management’s motion for summary judgment was granted as to all of plaintiffs’ claims, except for the breach of confidentiality claim, and plaintiffs’ motion for partial summary judgment was denied. On June 15, 2011, the case was stayed pending resolution of the appellate process. On July 8, 2011, the plaintiffs filed a notice of appeal to the U.S. Court of Appeals for the Eleventh Circuit (Case No. 11-13069). Oral argument was held on May 22, 2012. On January 24, 2013, the U.S. Court of Appeals for the Eleventh Circuit upheld the granting of Health Management’s motion for summary judgment by the U.S. District Court for the Southern District of Georgia, Augusta Division. On February 14, 2013, the plaintiffs filed a petition for a rehearing of their appeal. On March 11, 2013, the U.S. Court of Appeals for the Eleventh Circuit denied plaintiff’s Petition for Rehearing, and the case was remanded back to the U.S. District Court. On April 15, 2013, per the parties’ consent motion, the U.S. District Court issued an order dismissing the remaining claims in the case with prejudice as to plaintiff and entered final judgment. | |
Medicare/Medicaid Billing Lawsuit. On January 11, 2010, Health Management and one of its subsidiaries were named in a qui tam lawsuit entitled United States of America ex rel. J. Michael Mastej v. Health Management Associates, Inc. et al. in the U.S. District Court for the Middle District of Florida, Tampa Division. The plaintiff’s complaint alleged that, among other things, the defendants erroneously submitted claims to Medicare and that those claims were falsely certified to be in compliance with Section 1877 of the Social Security Act of 1935 (commonly known as the “Stark law”) and the Anti-Kickback Statute. The plaintiff’s complaint further alleged that the defendants’ conduct violated the federal False Claims Act of 1863 (the “False Claims Act”). The plaintiff seeks recovery of all Medicare and Medicaid reimbursement that the defendants received as a result of the alleged false certifications and treble damages under the False Claims Act, as well as a civil penalty for each Medicare and Medicaid claim supported by such alleged false certifications. On August 18, 2010, the plaintiff filed a first amended complaint that was similar to the original complaint. On February 23, 2011, the case was transferred to the U.S. District Court for the Middle District of Florida, Fort Myers Division (Case No. 2:11-cv-00089-JES-DNF). On May 5, 2011, the plaintiff filed a second amended complaint, which was similar to the first amended complaint. On May 17, 2011, the defendants moved to dismiss the second amended complaint for failure to state a claim with the particularity required and failure to state a claim upon which relief can be granted. On January 26, 2012, the United States gave notice of its decision not to intervene in this lawsuit. On February 16, 2012, the court granted the defendants’ motion to dismiss, without prejudice. The court’s order permitted the plaintiff to file an amended complaint. On March 8, 2012, the plaintiff filed a third amended complaint, which is similar to the first amended complaint and the second amended complaint. On March 26, 2012, the defendants moved to dismiss the third amended complaint on the same bases set forth in earlier motions to dismiss. On March 19, 2013, the U.S. District Court for the Middle District of Florida, Tampa Division, dismissed the third amended complaint with prejudice. On March 28, 2013, the United States of America filed a motion to clarify that the dismissal with prejudice did not relate to the United States. On April 4, 2013, the defendants filed an opposition to the United States’ motion for clarification. On April 16, 2013, the plaintiff filed a motion for relief from judgment and for leave to amend the complaint, and a proposed fourth amended complaint. On April 18, 2013, the plaintiff filed a notice of appeal. On May 2, 2013, the defendants filed an opposition to the plaintiff’s motion for relief from judgment and for leave to amend the complaing for the fourth time. We intend to vigorously defend Health Management and its subsidiary against the allegations in this matter. We do not believe that the final outcome of this matter will be material. | |
Governmental Matters. Several Health Management hospitals received letters during 2009 requesting information in connection with a U.S. Department of Justice (“DOJ”) investigation relating to kyphoplasty procedures. Kyphoplasty is a minimally invasive spinal procedure used to treat vertebral compression fractures. The DOJ is currently investigating hospitals and hospital operators in multiple states to determine whether certain Medicare claims for kyphoplasty were incorrect when billed as an inpatient service rather than as an outpatient service. We believe that the DOJ’s investigation originated with a False Claims Act lawsuit against Kyphon, Inc., the company that developed the kyphoplasty procedure. The requested information has been provided to the DOJ and we are cooperating with the investigation. To date, the DOJ has not asserted any monetary or other claims against the Health Management hospitals in this matter. Based on the aggregate billings for inpatient kyphoplasty procedures during the period under review that were performed at the Health Management hospitals subject to the DOJ’s inquiry, we do not believe that the final outcome of this matter will be material. | |
During September 2010, Health Management received a letter from the DOJ indicating that an investigation was being conducted to determine whether certain Health Management hospitals improperly submitted claims for the implantation of implantable cardioverter defibrillators (“ICDs”). The DOJ’s investigation covers the period commencing with Medicare’s expansion of coverage for ICDs in 2003 to the present. The letter from the DOJ further indicates that the claims submitted by Health Management’s hospitals for ICDs and related services need to be reviewed to determine if Medicare coverage and payment was appropriate. During 2010, the DOJ sent similar letters and other requests to a large number of unrelated hospitals and hospital operators across the country as part of a nation-wide review of ICD billing under the Medicare program. We are cooperating with the DOJ in its ongoing investigation, which could potentially give rise to claims against Health Management and/or certain of its subsidiary hospitals under the False Claims Act or other statutes, regulations or laws. Additionally, we are conducting an internal review of hospital medical records related to ICDs that are the subject of the DOJ investigation. To date, the DOJ has not asserted any monetary or other claims against Health Management or its hospitals in this matter and, at this time, we are unable to determine the potential impact, if any, that will result from the final resolution of the investigation. | |
The U.S. Department of Health and Human Services, Office of Inspector General (“HHS-OIG”) and the DOJ, including the Civil Division and U.S. Attorney’s Offices in the Eastern District of Pennsylvania, the Middle District of Florida, the Eastern District of Oklahoma, the Middle District of Tennessee, the Western District of North Carolina, the District of South Carolina and the Middle District of Georgia, are currently investigating Health Management and certain of its subsidiaries (HHS-OIG and the DOJ are collectively referred to as “Government Representatives”). We believe that such investigations relate to the Anti-Kickback Statute, the Stark law and the False Claims Act and are focused on: (i) physician referrals, including financial arrangements with our whole-hospital physician joint ventures; (ii) the medical necessity of emergency room tests and patient admissions, including whether the Pro-Med software that we used led to any medically unnecessary tests or admissions; and (iii) the medical necessity of certain surgical procedures. We further believe that the investigations may have originated as a result of qui tam lawsuits filed on behalf of the United States. In connection with the investigations, HHS-OIG has requested certain records through subpoenas, which apply system-wide, that were served on Health Management on May 16, 2011 and July 21, 2011. Additionally, Government Representatives have interviewed certain of our current and former employees. We are conducting internal investigations and have met with Government Representatives on numerous occasions to respond to their inquiries. We intend to cooperate with the Government Representatives during their investigations. At this time, we are unable to determine the potential impact, if any, that will result from the final resolution of these investigations. | |
On February 22, 2012 and February 24, 2012, HHS-OIG served subpoenas on certain Health Management hospitals relating to those hospitals’ relationships with Allegiance Health Management, Inc. (“Allegiance”). Allegiance, which is unrelated to Health Management, is a post acute health care management company that provides intensive outpatient psychiatric (“IOP”) services to patients. The Health Management hospitals that were served subpoenas were: (i) Central Mississippi Medical Center in Jackson, Mississippi; (ii) Crossgates River Oaks Hospital in Brandon, Mississippi; (iii) Davis Regional Medical Center in Statesville, North Carolina; (iv) Lake Norman Regional Medical Center in Mooresville, North Carolina; (v) the Medical Center of Southeastern Oklahoma in Durant, Oklahoma; and (vi) Natchez Community Hospital in Natchez, Mississippi. Each of those hospitals has or had a contract with Allegiance. Among other things, the subpoenas seek: (i) documents related to the hospitals’ financial relationships with Allegiance; (ii) documents related to patients who received IOP services from Allegiance at the Health Management hospitals, including their patient medical records; (iii) documents relating to complaints or concerns regarding Allegiance’s IOP services at the Health Management hospitals; (iv) documents relating to employees, physicians and therapists who were involved with the IOP services provided by Allegiance at the Health Management hospitals; and (v) other documents related to Allegiance, including leases, contracts, policies and procedures, training documents, budgets and financial analyses. The period of time covered by the subpoenas is January 1, 2008 through the date of subpoena compliance. We believe that HHS-OIG has served similar subpoenas on other non-Health Management hospitals that had contracts with Allegiance. We intend to cooperate with the investigations. At this time, we are unable to determine the potential impact that will result from the final resolution of these investigations. | |
On April 25, 2013, Health Management received a subpoena from the SEC, issued pursuant to an investigation, requesting documents related to accounts receivable, billing write-downs, contractual adjustments, reserves for doubtful accounts, and accounts receivable aging and revenue from Medicare, Medicaid and from privately insured or uninsured patients. We are cooperating with the SEC’s investigation. We are unable to determine the potential impact, if any, of this investigation. | |
In addition to the abovementioned subpoenas and investigations, certain of our hospitals have received other requests for information from state and federal agencies. We are cooperating with all of the ongoing investigations by collecting and producing the requested materials. Because a large portion of our government investigations are in their early stages, we are unable to evaluate the outcome of such matters or determine the potential impact, if any, that could result from their final resolution. | |
Class Action Lawsuits. On April 30, 2012, two class action lawsuits that were brought against Health Management and certain of its executive officers, one of whom is a director, were consolidated in the U.S. District Court for the Middle District of Florida under the caption In Re: Health Management Associates, Inc. et al. (Case No. 2:12-cv-00046-JES-DNF) and three pension fund plaintiffs were appointed as lead plaintiffs. On July 30, 2012, the plaintiffs filed an amended consolidated complaint purportedly on behalf of stockholders who purchased our common stock during the period from July 27, 2009 through January 9, 2012. The amended consolidated complaint (i) alleges that Health Management made false and misleading statements in certain public disclosures regarding its business and financial results and (ii) asserts claims for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Among other things, the plaintiffs claim that Health Management inflated its earnings by engaging in fraudulent Medicare billing practices that entailed admitting patients to observation status when they should not have been admitted at all and to inpatient status when they should have been admitted to observation status. The plaintiffs seek unspecified monetary damages. On October 22, 2012, the defendants moved to dismiss the plaintiffs’ amended consolidated complaint for failure to state a claim or plead facts required by the Private Securities Litigation Reform Act. The plaintiffs filed an unopposed stipulation and proposed order to suspend briefing on the defendants’ motion to dismiss because they intended to seek leave of court to file a proposed second amended consolidated complaint. On December 15, 2012, the court entered an order approving the stipulation and providing a schedule for briefing with respect to the proposed amended pleadings. On February 11, 2013, the defendants were served with the second amended consolidated complaint, which asserts the same claims as the amended consolidated complaint. On May 3, 2013, the defendants moved to dismiss the second amended complaint for failure to state a claim and plead facts required by the Private Securities Litigation Reform Act. We intend to vigorously defend against the allegations in this lawsuit. Because this lawsuit is in its early stages, we are unable to predict the outcome or determine the potential impact, if any, that could result from its final resolution. | |
Derivative Action. On January 22, 2013, a putative shareholder derivative action entitled The City of Haverhill Retirement System v. Dauten et al. (Case No. 8:13-cv-00213) was filed in the U.S. District Court for the Middle District of Florida, Tampa Division, purportedly on behalf of Health Management against its directors. Health Management was also named as a nominal defendant. The complaint alleges that, among other things, the defendants breached their fiduciary duties to Health Management and its stockholders by supposedly causing Health Management to undertake a scheme to defraud Medicare by improperly admitting certain emergency room patients as “inpatients” in violation of the False Claims Act and then issuing false and misleading public statements about Health Management’s financial outlook and compliance with laws and regulations. The complaint also alleges that the defendants breached their fiduciary duties by exposing Health Management to potentially significant civil and criminal penalties as a result of the aforementioned investigations by HHS-OIG and the DOJ as well as the stockholder class action and other ongoing litigation. The complaint seeks monetary damages from the defendants, other than Health Management. On February 8, 2013, the case was transferred to the U.S. District Court for the Middle District of Florida, Fort Myers Division (Case No. 2:13-cv-00092). On April 10, 2013 the plaintiffs filed an amended compliant which asserts the same claims as its prior complaint. We intend to vigorously defend against the allegations in this lawsuit. Because this lawsuit is in its early stages, we are unable to predict the outcome or determine the potential impact, if any, that could result from its final resolution. | |
Other. We are also a party to various other legal actions arising out of the normal course of our business. Due to the inherent uncertainties of litigation and dispute resolution, we are unable to estimate the ultimate losses, if any, relating to each of our outstanding legal actions and other loss contingencies. Should an unfavorable outcome occur in some or all of our legal and other related matters, there could be a material adverse effect on our financial position, results of operations and liquidity. | |
Subsequent_Event
Subsequent Event | 3 Months Ended |
Mar. 31, 2013 | |
Subsequent Event [Abstract] | ' |
Subsequent Event | ' |
12.Subsequent Event | |
On April 1, 2013, one of our subsidiaries acquired an 80% interest in Bayfront Health System, which includes Bayfront Medical Center, a tertiary and teaching hospital in St. Petersburg, Florida that is licensed to operate 480 beds, and certain related health care operations. A not-for-profit organization affiliated with Bayfront Health System, Bayfront Health, Education and Research Organization, retained a 20% interest in such entities. The total purchase price for our 80% interest was approximately $162.0 million in cash, plus a working capital adjustment. The acquired assets and assumed liabilities included, among other things, supply inventories, property, plant and equipment and certain long-term lease obligations. We funded the entire purchase price of this acquisition with borrowings under the Revolving Credit Agreement, which is discussed at Note 4. | |
Supplemental_Condensed_Consoli
Supplemental Condensed Consolidating Financial Statements | 3 Months Ended | ||||||||||||||
Mar. 31, 2013 | |||||||||||||||
Supplemental Condensed Consolidating Financial [Abstract] | ' | ||||||||||||||
Supplemental Condensed Consolidating Financial Statements | ' | ||||||||||||||
13.Supplemental Condensed Consolidating Financial Statements | |||||||||||||||
Health Management Associates, Inc. (referred to as the “Parent Issuer” for the remainder of this Note 13) is the primary obligor under the Credit Facilities, as well as our 6.125% Senior Notes due 2016 and our 7.375% Senior Notes due 2020. Certain of the Parent Issuer’s material domestic subsidiaries that are 100% owned (the “Guarantor Subsidiaries”) provide joint and several unconditional guarantees as to payment for borrowings under such long-term debt arrangements; however, other Parent Issuer subsidiaries (the “Non-Guarantor Subsidiaries”) have not been required to provide any such guarantees. See Note 4 herein and Note 3 to the audited consolidated financial statements included in our 2012 Form 10-K for further information regarding our long-term debt arrangements. Below and on the pages that follow are schedules presenting condensed consolidating financial statements as of March 31, 2013 and December 31, 2012, as well as the three months ended March 31, 2013 and 2012. However, this financial information may not necessarily be indicative of the results of operations, cash flows or financial position of the Parent Issuer, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries if they had operated as independent entities. The tables have been updated to reflect the restatement as described in Note 2. | |||||||||||||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Income | |||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Net revenue before the provision for doubtful accounts | $ | - | $ | 1,059,479 | $ | 664,549 | $ | - | $ | 1,724,028 | |||||
Provision for doubtful accounts | - | -144,557 | -91,642 | - | -236,199 | ||||||||||
Net revenue | - | 914,922 | 572,907 | - | 1,487,829 | ||||||||||
Salaries and benefits | - | 337,499 | 348,179 | - | 685,678 | ||||||||||
Supplies | - | 162,788 | 72,980 | - | 235,768 | ||||||||||
Rent expense | - | 21,267 | 20,814 | - | 42,081 | ||||||||||
Other operating expenses | - | 182,697 | 141,393 | - | 324,090 | ||||||||||
Medicare and Medicaid HCIT incentive payments | - | -3,035 | -947 | - | -3,982 | ||||||||||
Equity in the earnings of consolidated subsidiaries | -72,591 | - | - | 72,591 | - | ||||||||||
Depreciation and amortization | 6,611 | 54,971 | 32,244 | - | 93,826 | ||||||||||
Interest expense | 67,239 | 2,713 | 1,539 | - | 71,491 | ||||||||||
Other | 683 | -101 | -2,473 | - | -1,891 | ||||||||||
1,942 | 758,799 | 613,729 | 72,591 | 1,447,061 | |||||||||||
Income from continuing operations before income taxes | -1,942 | 156,123 | -40,822 | -72,591 | 40,768 | ||||||||||
Income tax (expense) benefit | 25,630 | -53,687 | 15,642 | - | -12,415 | ||||||||||
Income from continuing operations | 23,688 | 102,436 | -25,180 | -72,591 | 28,353 | ||||||||||
Loss from discontinued operations, net of | |||||||||||||||
income taxes | - | - | - | - | - | ||||||||||
Consolidated net income | 23,688 | 102,436 | -25,180 | -72,591 | 28,353 | ||||||||||
Net income attributable to noncontrolling interests | - | - | -4,665 | - | -4,665 | ||||||||||
Net income (loss) attributable to Health | |||||||||||||||
Management Associates, Inc. | $ | 23,688 | $ | 102,436 | $ | -29,845 | $ | -72,591 | $ | 23,688 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Consolidated net income | $ | 23,688 | $ | 102,436 | $ | -25,180 | $ | -72,591 | $ | 28,353 | |||||
Components of other comprehensive income | |||||||||||||||
before income taxes attributable to: | |||||||||||||||
Available-for-sale securities: | |||||||||||||||
Unrealized gains (losses), net | - | - | 4,120 | - | 4,120 | ||||||||||
Adjustments for net (gains) losses reclassified | |||||||||||||||
into net income | - | - | -1,427 | - | -1,427 | ||||||||||
Interest rate swap contract: | |||||||||||||||
Reclassification adjustments for amortization | |||||||||||||||
into net income | 18,356 | - | - | - | 18,356 | ||||||||||
Other comprehensive income before income taxes | 18,356 | - | 2,693 | - | 21,049 | ||||||||||
Income tax expense related to items | |||||||||||||||
of other comprehensive income | -7,125 | - | -945 | - | -8,070 | ||||||||||
Other comprehensive income, net | 11,231 | - | 1,748 | - | 12,979 | ||||||||||
Total consolidated comprehensive income | 34,919 | 102,436 | -23,432 | -72,591 | 41,332 | ||||||||||
Total comprehensive income attributable to | |||||||||||||||
noncontrolling interests | - | - | -4,665 | - | -4,665 | ||||||||||
Total comprehensive income attributable to Health | |||||||||||||||
Management Associates, Inc. common stockholders | $ | 34,919 | $ | 102,436 | $ | -28,097 | $ | -72,591 | $ | 36,667 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Income | |||||||||||||||
Three Months Ended March 31, 2012 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Net revenue before the provision for doubtful accounts | $ | - | $ | 1,037,631 | $ | 647,637 | $ | - | $ | 1,685,268 | |||||
Provision for doubtful accounts | - | -124,545 | -76,716 | - | -201,261 | ||||||||||
Net revenue | - | 913,086 | 570,921 | - | 1,484,007 | ||||||||||
Salaries and benefits | - | 343,552 | 314,685 | - | 658,237 | ||||||||||
Supplies | - | 161,453 | 72,990 | - | 234,443 | ||||||||||
Rent expense | - | 23,855 | 21,095 | - | 44,950 | ||||||||||
Other operating expenses | - | 183,206 | 128,995 | - | 312,201 | ||||||||||
Medicare and Medicaid HCIT incentive payments | - | -2,430 | -2,160 | - | -4,590 | ||||||||||
Equity in the earnings of consolidated subsidiaries | -92,423 | - | - | 92,423 | - | ||||||||||
Depreciation and amortization | 2,695 | 47,072 | 28,580 | - | 78,347 | ||||||||||
Interest expense | 85,281 | 2,087 | 1,497 | - | 88,865 | ||||||||||
Other | -202 | -38 | 1,880 | - | 1,640 | ||||||||||
-4,649 | 758,757 | 567,562 | 92,423 | 1,414,093 | |||||||||||
Income from continuing operations before income taxes | 4,649 | 154,329 | 3,359 | -92,423 | 69,914 | ||||||||||
Income tax (expense) benefit | 33,160 | -58,268 | 1,304 | - | -23,804 | ||||||||||
Income from continuing operations | 37,809 | 96,061 | 4,663 | -92,423 | 46,110 | ||||||||||
Loss from discontinued operations, net of | |||||||||||||||
income taxes | - | - | -1,395 | - | -1,395 | ||||||||||
Consolidated net income | 37,809 | 96,061 | 3,268 | -92,423 | 44,715 | ||||||||||
Net income attributable to noncontrolling interests | - | -95 | -6,811 | - | -6,906 | ||||||||||
Net income (loss) attributable to Health | |||||||||||||||
Management Associates, Inc. | $ | 37,809 | $ | 95,966 | $ | -3,543 | $ | -92,423 | $ | 37,809 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||
Three Months Ended March 31, 2012 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Consolidated net income | $ | 37,809 | $ | 96,061 | $ | 3,268 | $ | -92,423 | $ | 44,715 | |||||
Components of other comprehensive income | |||||||||||||||
before income taxes attributable to: | |||||||||||||||
Available-for-sale securities: | |||||||||||||||
Unrealized gains (losses), net | - | - | 5,119 | - | 5,119 | ||||||||||
Adjustments for net (gains) losses reclassified | |||||||||||||||
into net income | - | - | 264 | - | 264 | ||||||||||
Interest rate swap contract: | |||||||||||||||
Reclassification adjustments for amortization | |||||||||||||||
into net income | 20,453 | - | - | - | 20,453 | ||||||||||
Other comprehensive income before income taxes | 20,453 | - | 5,383 | - | 25,836 | ||||||||||
Income tax expense related to items | |||||||||||||||
of other comprehensive income | -7,940 | - | -1,884 | - | -9,824 | ||||||||||
Other comprehensive income, net | 12,513 | - | 3,499 | - | 16,012 | ||||||||||
Total consolidated comprehensive income | 50,322 | 96,061 | 6,767 | -92,423 | 60,727 | ||||||||||
Total comprehensive income attributable to | |||||||||||||||
noncontrolling interests | - | -95 | -6,811 | - | -6,906 | ||||||||||
Total comprehensive income attributable to Health | |||||||||||||||
Management Associates, Inc. common stockholders | $ | 50,322 | $ | 95,966 | $ | -44 | $ | -92,423 | $ | 53,821 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Balance Sheet | |||||||||||||||
31-Mar-13 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Current assets: | |||||||||||||||
Cash and cash equivalents | $ | 19,932 | $ | 9,275 | $ | 8,151 | $ | - | $ | 37,358 | |||||
Available-for-sale securities | - | - | 52,207 | - | 52,207 | ||||||||||
Accounts receivable, net | - | 617,658 | 373,369 | - | 991,027 | ||||||||||
Supplies, prepaid expenses and other assets | 5,311 | 136,294 | 79,900 | - | 221,505 | ||||||||||
Prepaid and recoverable income taxes | 64,498 | - | - | - | 64,498 | ||||||||||
Restricted funds | - | - | 25,109 | - | 25,109 | ||||||||||
Assets held for sale | - | - | 6,250 | - | 6,250 | ||||||||||
Total current assets | 89,741 | 763,227 | 544,986 | - | 1,397,954 | ||||||||||
- | |||||||||||||||
Property, plant and equipment, net | 120,506 | 2,308,208 | 1,028,304 | - | 3,457,018 | ||||||||||
Investments in consolidated subsidiaries | 3,789,842 | - | - | -3,789,842 | - | ||||||||||
Restricted funds | - | - | 126,581 | - | 126,581 | ||||||||||
Intercompany receivables | 834,139 | 118,702 | - | -952,841 | - | ||||||||||
Goodwill | - | 654,500 | 371,323 | - | 1,025,823 | ||||||||||
Deferred charges and other assets | 80,788 | 111,389 | 110,046 | - | 302,223 | ||||||||||
- | |||||||||||||||
Total assets | $ | 4,915,016 | $ | 3,956,026 | $ | 2,181,240 | $ | -4,742,683 | $ | 6,309,599 | |||||
Current liabilities: | |||||||||||||||
Accounts payable | $ | 16,639 | $ | 101,412 | $ | 51,662 | $ | - | $ | 169,713 | |||||
Accrued expenses and other current liabilities | 101,266 | 229,992 | 225,516 | - | 556,774 | ||||||||||
Deferred income taxes | 27,086 | - | - | - | 27,086 | ||||||||||
Current maturities of long-term debt and | - | ||||||||||||||
capital lease obligations | 72,907 | 20,902 | 5,284 | - | 99,093 | ||||||||||
Total current liabilities | 217,898 | 352,306 | 282,462 | - | 852,666 | ||||||||||
- | |||||||||||||||
Deferred income taxes | 324,157 | - | - | - | 324,157 | ||||||||||
Long-term debt and capital lease obligations, | - | ||||||||||||||
less current maturities | 3,284,518 | 83,470 | 50,207 | - | 3,418,195 | ||||||||||
Intercompany payables | - | - | 952,841 | -952,841 | - | ||||||||||
Other long-term liabilities | 61,214 | 95,292 | 311,352 | - | 467,858 | ||||||||||
Total liabilities | 3,887,787 | 531,068 | 1,596,862 | -952,841 | 5,062,876 | ||||||||||
- | |||||||||||||||
Redeemable equity securities | - | - | 212,208 | - | 212,208 | ||||||||||
- | |||||||||||||||
Stockholders' equity: | - | ||||||||||||||
Total Health Management Associates, Inc. | - | ||||||||||||||
stockholders' equity | 1,027,229 | 3,424,958 | 364,884 | -3,789,842 | 1,027,229 | ||||||||||
Noncontrolling interests | - | - | 7,286 | - | 7,286 | ||||||||||
Total stockholders' equity | 1,027,229 | 3,424,958 | 372,170 | -3,789,842 | 1,034,515 | ||||||||||
Total liabilities and stockholders' equity | $ | 4,915,016 | $ | 3,956,026 | $ | 2,181,240 | $ | -4,742,683 | $ | 6,309,599 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Balance Sheet | |||||||||||||||
31-Dec-12 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Current assets: | |||||||||||||||
Cash and cash equivalents | $ | 23,214 | $ | 24,823 | $ | 11,136 | $ | - | $ | 59,173 | |||||
Available-for-sale securities | 65,376 | - | 55,730 | - | 121,106 | ||||||||||
Accounts receivable, net | - | 587,754 | 370,164 | - | 957,918 | ||||||||||
Supplies, prepaid expenses and other assets | 4,459 | 136,078 | 80,347 | - | 220,884 | ||||||||||
Prepaid and recoverable income taxes | 60,438 | - | - | - | 60,438 | ||||||||||
Restricted funds | - | - | 26,525 | - | 26,525 | ||||||||||
Assets held for sale | - | - | 6,250 | - | 6,250 | ||||||||||
Total current assets | 153,487 | 748,655 | 550,152 | - | 1,452,294 | ||||||||||
Property, plant and equipment, net | 118,699 | 2,322,678 | 1,024,513 | - | 3,465,890 | ||||||||||
Investments in consolidated subsidiaries | 3,768,249 | - | - | -3,768,249 | - | ||||||||||
Restricted funds | - | - | 125,532 | - | 125,532 | ||||||||||
Intercompany receivables | 827,770 | 24,838 | - | -852,608 | - | ||||||||||
Goodwill | - | 654,500 | 370,637 | - | 1,025,137 | ||||||||||
Deferred charges and other assets | 80,118 | 125,144 | 112,239 | - | 317,501 | ||||||||||
Total assets | $ | 4,948,323 | $ | 3,875,815 | $ | 2,183,073 | $ | -4,620,857 | $ | 6,386,354 | |||||
Current liabilities: | |||||||||||||||
Accounts payable | $ | 42,093 | $ | 112,643 | $ | 56,651 | $ | - | $ | 211,387 | |||||
Accrued expenses and other current liabilities | 120,598 | 239,281 | 249,853 | - | 609,732 | ||||||||||
Deferred income taxes | 29,026 | - | - | - | 29,026 | ||||||||||
Current maturities of long-term debt and | |||||||||||||||
capital lease obligations | 100,542 | 20,091 | 5,629 | - | 126,262 | ||||||||||
Total current liabilities | 292,259 | 372,015 | 312,133 | - | 976,407 | ||||||||||
Deferred income taxes | 301,237 | - | - | - | 301,237 | ||||||||||
Long-term debt and capital lease obligations, | |||||||||||||||
less current maturities | 3,304,667 | 82,871 | 52,815 | - | 3,440,353 | ||||||||||
Intercompany payables | - | - | 852,608 | -852,608 | - | ||||||||||
Other long-term liabilities | 71,755 | 96,250 | 292,881 | - | 460,886 | ||||||||||
Total liabilities | 3,969,918 | 551,136 | 1,510,437 | -852,608 | 5,178,883 | ||||||||||
Redeemable equity securities | - | - | 212,458 | - | 212,458 | ||||||||||
Stockholders' equity: | |||||||||||||||
Total Health Management Associates, Inc. | |||||||||||||||
stockholders' equity | 978,405 | 3,324,679 | 443,570 | -3,768,249 | 978,405 | ||||||||||
Noncontrolling interests | - | - | 16,608 | - | 16,608 | ||||||||||
Total stockholders' equity | 978,405 | 3,324,679 | 460,178 | -3,768,249 | 995,013 | ||||||||||
Total liabilities and stockholders' equity | $ | 4,948,323 | $ | 3,875,815 | $ | 2,183,073 | $ | -4,620,857 | $ | 6,386,354 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Consolidated | ||||||||||||
Net cash provided by (used in) continuing operating activities | $ | -74,921 | $ | 105,608 | $ | -11,446 | $ | 19,241 | |||||||
Cash flows from investing activities: | |||||||||||||||
Additions to property, plant and equipment | -9,360 | -32,910 | -18,770 | -61,040 | |||||||||||
Acquisitions of hospitals and other ancillary health care businesses | - | - | -1,525 | -1,525 | |||||||||||
Proceeds from sales of assets and insurance recoveries | - | 321 | 251 | 572 | |||||||||||
Purchases of available-for-sale securities | -405,916 | - | -10,860 | -416,776 | |||||||||||
Proceeds from sales of available-for-sale securities | 472,063 | - | 15,564 | 487,627 | |||||||||||
Decrease in restricted funds, net | - | - | 3,253 | 3,253 | |||||||||||
Net cash provided by (used in) continuing investing activities | 56,787 | -32,589 | -12,087 | 12,111 | |||||||||||
Cash flows from financing activities: | |||||||||||||||
Proceeds from long-term debt borrowings | 71,400 | - | - | 71,400 | |||||||||||
Principal payments on debt and capital lease obligations | -120,182 | -4,971 | -1,175 | -126,328 | |||||||||||
Payments of debt issuance costs | -1,588 | - | - | -1,588 | |||||||||||
Proceeds from exercises of stock options | 13,197 | - | - | 13,197 | |||||||||||
Cash payments to noncontrolling shareholders | - | - | -14,236 | -14,236 | |||||||||||
Changes in intercompany balances, net | 47,637 | -83,596 | 35,959 | - | |||||||||||
Equity compensation excess income tax benefits | 4,388 | - | - | 4,388 | |||||||||||
Net cash provided by (used in) continuing financing activities | 14,852 | -88,567 | 20,548 | -53,167 | |||||||||||
Net increase (decrease) in cash and cash equivalents | -3,282 | -15,548 | -2,985 | -21,815 | |||||||||||
Cash and cash equivalents at the beginning of the period | 23,214 | 24,823 | 11,136 | 59,173 | |||||||||||
Cash and cash equivalents at the end of the period | $ | 19,932 | $ | 9,275 | $ | 8,151 | $ | 37,358 | |||||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||
Three Months Ended March 31, 2012 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Consolidated | ||||||||||||
Net cash provided by (used in) continuing operating activities | $ | -9,025 | $ | 87,285 | $ | -16,200 | $ | 62,060 | |||||||
Cash flows from investing activities: | |||||||||||||||
Additions to property, plant and equipment | -13,169 | -52,593 | -15,028 | -80,790 | |||||||||||
Acquisitions of hospitals and other ancillary health care businesses | - | -800 | -80,817 | -81,617 | |||||||||||
Proceeds from sales of assets and insurance recoveries | - | - | 808 | 808 | |||||||||||
Purchases of available-for-sale securities | -431,273 | - | -8,428 | -439,701 | |||||||||||
Proceeds from sales of available-for-sale securities | 512,969 | - | 8,217 | 521,186 | |||||||||||
Decrease in restricted funds, net | - | - | 782 | 782 | |||||||||||
Net cash provided by (used in) continuing investing activities | 68,527 | -53,393 | -94,466 | -79,332 | |||||||||||
Cash flows from financing activities: | |||||||||||||||
Principal payments on debt and capital lease obligations | -17,236 | -2,498 | -1,065 | -20,799 | |||||||||||
Cash received from noncontrolling shareholders | - | - | 1,786 | 1,786 | |||||||||||
Cash payments to noncontrolling shareholders | - | -1,127 | -16,759 | -17,886 | |||||||||||
Changes in intercompany balances, net | -87,354 | -45,154 | 132,508 | - | |||||||||||
Equity compensation excess income tax benefits | 1,400 | - | - | 1,400 | |||||||||||
Net cash provided by (used in) continuing financing activities | -103,190 | -48,779 | 116,470 | -35,499 | |||||||||||
Net increase (decrease) in cash and cash equivalents | |||||||||||||||
before discontinued operations | -43,688 | -14,887 | 5,804 | -52,771 | |||||||||||
Net cash used in discontinued operations | - | - | -2,976 | -2,976 | |||||||||||
Net increase (decrease) in cash and cash equivalents | -43,688 | -14,887 | 2,828 | -55,747 | |||||||||||
Cash and cash equivalents at the beginning of the period | 28,611 | 44,541 | -9,009 | 64,143 | |||||||||||
Cash and cash equivalents at the end of the period | $ | -15,077 | $ | 29,654 | $ | -6,181 | $ | 8,396 | |||||||
Restatement_And_Revision_Of_Pr1
Restatement And Revision Of Previously Reported Consolidated Financial Statements (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2013 | |||||||||
Restatement And Revision Of Previously Reported Consolidated Financial Statements [Abstract] | ' | ||||||||
Revision Of Previously Reported Consolidated Financial Statements | ' | ||||||||
Three Months Ended March 31, 2013 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Statements of Income and Comprehensive Income | |||||||||
Net revenue before the provision for doubtful accounts | $ | 1,723,841 | $ | 187 | $ | 1,724,028 | |||
Provision for doubtful accounts | -240,879 | 4,680 | -236,199 | ||||||
Net revenue | 1,482,962 | 4,867 | 1,487,829 | ||||||
Salaries and benefits | 684,191 | 1,487 | 685,678 | ||||||
Supplies | 235,768 | - | 235,768 | ||||||
Rent expense | 42,156 | -75 | 42,081 | ||||||
Other operating expenses | 325,775 | -1,685 | 324,090 | ||||||
Medicare and Medicaid HCIT incentive programs | -3,826 | -156 | -3,982 | ||||||
Depreciation and amortization | 93,875 | -49 | 93,826 | ||||||
Interest expense | 69,429 | 2,062 | 71,491 | ||||||
Other | -1,891 | - | -1,891 | ||||||
Income from continuing operations before income taxes | 37,485 | 3,283 | 40,768 | ||||||
Provision for income taxes | -9,718 | -2,697 | -12,415 | ||||||
Income from continuing operations | 27,767 | 586 | 28,353 | ||||||
Loss from discontinued operations | - | - | - | ||||||
Consolidated net income | 27,767 | 586 | 28,353 | ||||||
Net income attributable to noncontrolling interests | -4,665 | - | -4,665 | ||||||
Net income attributable to Health Management Associates, Inc. | $ | 23,102 | $ | 586 | $ | 23,688 | |||
Comprehensive income | $ | 40,746 | $ | 586 | $ | 41,332 | |||
Earnings (loss) per share attributable to Health Management | |||||||||
Associates, Inc. common stockholders: | |||||||||
Basic and diluted | |||||||||
Continuing operations | $ | 0.09 | $ | - | $ | 0.09 | |||
Discontinued operations | - | - | - | ||||||
Net income | $ | 0.09 | $ | - | $ | 0.09 | |||
March 31, 2013 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Balance Sheet | |||||||||
Accounts receivable, less allowances for doubtful accounts | $ | 1,003,128 | $ | -12,101 | $ | 991,027 | |||
Prepaid and recoverable income taxes | 64,749 | -251 | 64,498 | ||||||
Other current assets | 342,429 | - | 342,429 | ||||||
Total current assets | 1,410,306 | -12,352 | 1,397,954 | ||||||
Net property, plant and equipment | 3,454,132 | 2,886 | 3,457,018 | ||||||
Goodwill | 1,024,142 | 1,681 | 1,025,823 | ||||||
Other long-term assets | 428,804 | - | 428,804 | ||||||
Total assets | $ | 6,317,384 | $ | -7,785 | $ | 6,309,599 | |||
Accounts payable | $ | 169,713 | - | $ | 169,713 | ||||
Accrued expenses and other liabilities | 531,643 | 25,131 | 556,774 | ||||||
Deferred income taxes | 42,611 | -15,525 | 27,086 | ||||||
Other current liabilities | 98,891 | 202 | 99,093 | ||||||
Total current liabilities | 842,858 | 9,808 | 852,666 | ||||||
Long-term debt and capital lease obligations, less current maturities | 3,411,004 | 7,191 | 3,418,195 | ||||||
Other long-term liabilities | 791,873 | 142 | 792,015 | ||||||
Redeemable equity securities | 212,208 | - | 212,208 | ||||||
Total stockholders’ equity | 1,059,441 | -24,926 | 1,034,515 | ||||||
Total liabilities and stockholders’ equity | $ | 6,317,384 | $ | -7,785 | $ | 6,309,599 | |||
Three Months Ended March 31, 2013 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Statements of Cash Flows | |||||||||
Operating activities: | |||||||||
Consolidated net income | $ | 27,767 | $ | 586 | $ | 28,353 | |||
Depreciation and amortization | 97,172 | -49 | 97,123 | ||||||
Provision for doubtful accounts | 240,879 | -4,680 | 236,199 | ||||||
Deferred tax expense | 12,148 | 761 | 12,909 | ||||||
Accounts receivable | -278,438 | -2,173 | -280,611 | ||||||
Prepaid and recoverable income taxes | -3,102 | 251 | -2,851 | ||||||
Accrued expenses and other liabilities | -50,147 | 5,202 | -44,945 | ||||||
Other cash flows from operating activities | -26,936 | - | -26,936 | ||||||
Net cash provided by continuing operating activities | 19,343 | -102 | 19,241 | ||||||
Investing activities: | |||||||||
Additions to property, plant and equipment | -61,142 | 102 | -61,040 | ||||||
Other cash flows from investing activities | 73,151 | - | 73,151 | ||||||
Net cash provided by continuing investing activities | 12,009 | 102 | 12,111 | ||||||
Net cash used in continuing financing activities | -53,167 | - | -53,167 | ||||||
Net decrease in cash and cash equivalents | -21,815 | - | -21,815 | ||||||
Cash and cash equivalents at the beginning of the year | 59,173 | - | 59,173 | ||||||
Cash and cash equivalents at the end of the year | $ | 37,358 | $ | - | $ | 37,358 | |||
Three Months Ended March 31, 2012 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Statements of Income and Comprehensive Income | |||||||||
Net revenue before the provision for doubtful accounts | $ | 1,686,518 | $ | -1,250 | $ | 1,685,268 | |||
Provision for the doubtful accounts | -201,261 | - | -201,261 | ||||||
Net revenue | 1,485,257 | -1,250 | 1,484,007 | ||||||
Salaries and benefits | 659,084 | -847 | 658,237 | ||||||
Supplies | 234,443 | - | 234,443 | ||||||
Rent expense | 45,025 | -75 | 44,950 | ||||||
Other operating expenses | 311,780 | 421 | 312,201 | ||||||
Medicare and Medicaid HCIT incentive programs | -4,590 | - | -4,590 | ||||||
Depreciation and amortization | 78,394 | -47 | 78,347 | ||||||
Interest expense | 88,763 | 102 | 88,865 | ||||||
Other | 1,640 | - | 1,640 | ||||||
Income from continuing operations before income taxes | 70,718 | -804 | 69,914 | ||||||
Provision for income taxes | -24,727 | 923 | -23,804 | ||||||
Income from continuing operations | 45,991 | 119 | 46,110 | ||||||
Loss from discontinued operations | -1,395 | - | -1,395 | ||||||
Consolidated net income | 44,596 | 119 | 44,715 | ||||||
Net income attributable to noncontrolling interests | -6,906 | - | -6,906 | ||||||
Net income attributable to Health Management Associates, Inc. | $ | 37,690 | $ | 119 | $ | 37,809 | |||
Comprehensive income | $ | 60,608 | $ | 119 | $ | 60,727 | |||
Earnings (loss) per share attributable to Health Management | |||||||||
Associates, Inc. common stockholders: | |||||||||
Basic | |||||||||
Continuing operations | $ | 0.15 | $ | - | $ | 0.15 | |||
Discontinued operations | - | - | - | ||||||
Net income | $ | 0.15 | $ | - | $ | 0.15 | |||
Diluted | |||||||||
Continuing operations | $ | 0.15 | $ | - | $ | 0.15 | |||
Discontinued operations | - | - | - | ||||||
Net income | $ | 0.15 | $ | - | $ | 0.15 | |||
December 31, 2012 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Balance Sheet | |||||||||
Accounts receivable, less allowances for doubtful accounts | $ | 976,872 | $ | -18,954 | $ | 957,918 | |||
Other current assets | 494,376 | - | 494,376 | ||||||
Total current assets | 1,471,248 | -18,954 | 1,452,294 | ||||||
Net property, plant and equipment | 3,463,052 | 2,838 | 3,465,890 | ||||||
Goodwill | 1,023,456 | 1,681 | 1,025,137 | ||||||
Other long-term assets | 443,033 | - | 443,033 | ||||||
Total assets | $ | 6,400,789 | $ | -14,435 | $ | 6,386,354 | |||
Accrued expenses and other liabilities | $ | 469,055 | $ | -5,242 | $ | 463,813 | |||
Due to third party payors | 26,470 | 25,172 | 51,642 | ||||||
Deferred income taxes | 45,170 | -16,144 | 29,026 | ||||||
Other current liabilities | 431,728 | 198 | 431,926 | ||||||
Total current liabilities | 972,423 | 3,984 | 976,407 | ||||||
Long-term debt and capital lease obligations, less current maturities | 3,433,260 | 7,093 | 3,440,353 | ||||||
Other long-term liabilities | 762,123 | - | 762,123 | ||||||
Redeemable equity securities | 212,458 | - | 212,458 | ||||||
Total stockholders’ equity | 1,020,525 | -25,512 | 995,013 | ||||||
Total liabilities and stockholders’ equity | $ | 6,400,789 | $ | -14,435 | $ | 6,386,354 | |||
Three Months Ended March 31, 2012 | |||||||||
As Previously Reported | Adjustment | As Restated | |||||||
Consolidated Statements of Cash Flows | |||||||||
Operating activities: | |||||||||
Consolidated net income | $ | 44,596 | $ | 119 | $ | 44,715 | |||
Depreciation and amortization | 81,156 | -47 | 81,109 | ||||||
Deferred tax expense | -9,451 | -185 | -9,636 | ||||||
Accounts receivable | -297,782 | 1,250 | -296,532 | ||||||
Prepaid and recoverable income taxes | 31,380 | -317 | 31,063 | ||||||
Accounts payable | -13,293 | -847 | -14,140 | ||||||
Other cash flows from operating activities | 225,481 | - | 225,481 | ||||||
Net cash provided by continuing operating activities | 62,087 | -27 | 62,060 | ||||||
Investing activities: | |||||||||
Additions to property, plant and equipment | -80,817 | 27 | -80,790 | ||||||
Other cash flows from investing activities | 1,458 | - | 1,458 | ||||||
Net cash used in continuing investing activities | -79,359 | 27 | -79,332 | ||||||
Net cash used in continuing financing activities | -35,499 | - | -35,499 | ||||||
Discontinued operations | -2,976 | - | -2,976 | ||||||
Net decrease in cash and cash equivalents | -55,747 | - | -55,747 | ||||||
Cash and cash equivalents at the beginning of the year | 64,143 | - | 64,143 | ||||||
Cash and cash equivalents at the end of the year | $ | 8,396 | $ | - | $ | 8,396 | |||
Net_Revenue_Provision_For_Doub1
Net Revenue, Provision For Doubtful Accounts, Cost Of Revenue And Other (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2013 | ||||||||||||
Net Revenue, Provision For Doubtful Accounts, Cost Of Revenue And Other [Abstract] | ' | |||||||||||
Schedule Of Patients Service Revenue, Net Of Contractual Allowances And Discounts | ' | |||||||||||
Three Months Ended | Three Months Ended | |||||||||||
31-Mar-13 | 31-Mar-12 | |||||||||||
Medicare | $ | 512,401 | 29.7 | % | $ | 503,893 | 29.9 | % | ||||
Medicaid | 177,449 | 10.3 | 180,289 | 10.7 | ||||||||
Commercial insurance | 820,294 | 47.6 | 817,151 | 48.5 | ||||||||
Self-pay | 171,547 | 10.0 | 163,435 | 9.7 | ||||||||
Other | 42,337 | 2.4 | 20,500 | 1.2 | ||||||||
$ | 1,724,028 | 100.0 | % | $ | 1,685,268 | 100.0 | % | |||||
LongTerm_Debt_And_Capital_Leas1
Long-Term Debt And Capital Lease Obligations (Tables) | 3 Months Ended | |||||
Mar. 31, 2013 | ||||||
Long-Term Debt And Capital Lease Obligations [Abstract] | ' | |||||
Summary Of Long-Term Debt And Capital Lease Obligations | ' | |||||
31-Mar-13 | 31-Dec-12 | |||||
Bank borrowings: | ||||||
Revolving credit facilities | $ | - | $ | - | ||
Term Loan A (as defined below) | 646,750 | 670,625 | ||||
Term Loan B (as defined below), net of discounts | 1,350,252 | 1,374,318 | ||||
7.375% Senior Notes due 2020 | 875,000 | 875,000 | ||||
6.125% Senior Notes due 2016, net of discounts | 398,877 | 398,785 | ||||
3.75% Convertible Senior Subordinated Notes due 2028, net of discounts | 86,545 | 85,522 | ||||
Installment notes and other long-term debt | 13,482 | 13,988 | ||||
Capital lease obligations | 146,382 | 148,377 | ||||
Long-term debt and capital lease obligations | 3,517,288 | 3,566,615 | ||||
Less current maturities | -99,093 | -126,262 | ||||
Long-term debt and capital lease obligations, less current maturities | $ | 3,418,195 | $ | 3,440,353 | ||
Earnings_Per_Share_And_Related1
Earnings Per Share And Related Other (Tables) | 3 Months Ended | |||||
Mar. 31, 2013 | ||||||
Earnings Per Share And Related Other [Abstract] | ' | |||||
Schedule Of Computations Of Basic And Diluted Earnings (Loss) Per Share | ' | |||||
Three Months Ended March 31, | ||||||
2013 | 2012 | |||||
Numerators: | ||||||
Income from continuing operations | $ | 28,353 | $ | 46,110 | ||
Income attributable to noncontrolling interests | -4,665 | -6,906 | ||||
Income from continuing operations attributable to Health | ||||||
Management Associates, Inc. common stockholders | 23,688 | 39,204 | ||||
Loss from discontinued operations attributable to Health | ||||||
Management Associates, Inc. common stockholders | - | -1,395 | ||||
Net income attributable to Health Management | ||||||
Associates, Inc. common stockholders | $ | 23,688 | $ | 37,809 | ||
Denominators: | ||||||
Denominator for basic earnings per share-weighted | ||||||
average number of outstanding common shares | 256,152 | 253,316 | ||||
Dilutive securities: stock-based compensation arrangements | 4,398 | 2,383 | ||||
Denominator for diluted earnings per share | 260,550 | 255,699 | ||||
Earnings per share: | ||||||
Basic | ||||||
Continuing operations | $ | 0.09 | $ | 0.15 | ||
Discontinued operations | - | - | ||||
Net income | $ | 0.09 | $ | 0.15 | ||
Diluted | ||||||
Continuing operations | $ | 0.09 | $ | 0.15 | ||
Discontinued operations | - | - | ||||
Net income | $ | 0.09 | $ | 0.15 | ||
Securities excluded from diluted earnings per share because they | ||||||
were antidilutive or performance conditions were not met: | ||||||
Stock options | 2,225 | 4,586 | ||||
Deferred stock and restricted stock | 525 | 967 | ||||
Fair_Value_Measurements_Availa1
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2013 | |||||||||||||
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds [Abstract] | ' | ||||||||||||
Schedule Of Estimated Fair Values Of Financial Assets (Liabilities) | ' | ||||||||||||
Level 1 | Level 2 | Level 3 | Totals | ||||||||||
As of March 31, 2013: | |||||||||||||
Available-for-sale securities, including | |||||||||||||
those in restricted funds | $ | 52,090 | $ | 151,807 | $ | - | $ | 203,897 | |||||
Interest rate swap contract | $ | - | $ | -71,785 | $ | - | $ | -71,785 | |||||
As of December 31, 2012: | |||||||||||||
Available-for-sale securities, including | |||||||||||||
those in restricted funds | $ | 51,156 | $ | 222,007 | $ | - | $ | 273,163 | |||||
Interest rate swap contract | $ | - | $ | -93,045 | $ | - | $ | -93,045 | |||||
Schedule Of Estimated Fair Value Of Interest Rate Swap Contract Liabilities | ' | ||||||||||||
31-Mar-13 | 31-Dec-12 | ||||||||||||
Accrued expenses and other liabilities | $ | 71,785 | $ | 84,277 | |||||||||
Other long-term liabilities | - | 8,768 | |||||||||||
Totals | $ | 71,785 | $ | 93,045 | |||||||||
Estimated Fair Values Of Long-Term Debt Instruments | ' | ||||||||||||
31-Mar-13 | 31-Dec-12 | ||||||||||||
Level 1: | |||||||||||||
6.125% Senior Notes due 2016 | $ | 441,000 | $ | 434,000 | |||||||||
7.375% Senior Notes due 2020 | 962,500 | 945,000 | |||||||||||
3.75% Convertible Senior Subordinated Notes due 2028 | 120,299 | 100,948 | |||||||||||
Level 2: | |||||||||||||
Term Loan A | 649,143 | 672,704 | |||||||||||
New Term Loan B/Term Loan B | 1,375,681 | 1,397,227 | |||||||||||
Schedule Of Available-For-Sale Securities | ' | ||||||||||||
Gross | Gross | ||||||||||||
Amortized | Unrealized | Unrealized | Estimated | ||||||||||
Cost | Gains | Losses | Fair Values | ||||||||||
As of March 31, 2013: | |||||||||||||
Debt securities and debt-based mutual funds | |||||||||||||
Government | $ | 49,053 | $ | 520 | $ | -307 | $ | 49,266 | |||||
Corporate | 88,939 | 3,501 | -47 | 92,393 | |||||||||
Equity securities and equity-based mutual funds | |||||||||||||
Domestic | 35,379 | 6,598 | -137 | 41,840 | |||||||||
International | 17,122 | 2,168 | -296 | 18,994 | |||||||||
Commodity-based mutual fund | 1,458 | - | -54 | 1,404 | |||||||||
Totals | $ | 191,951 | $ | 12,787 | $ | -841 | $ | 203,897 | |||||
As of December 31, 2012: | |||||||||||||
Debt securities and debt-based mutual funds | |||||||||||||
Government | $ | 120,415 | $ | 692 | $ | -321 | $ | 120,786 | |||||
Corporate | 85,843 | 3,271 | -10 | 89,104 | |||||||||
Equity securities and equity-based mutual funds | |||||||||||||
Domestic | 37,825 | 4,307 | -234 | 41,898 | |||||||||
International | 18,005 | 1,766 | -219 | 19,552 | |||||||||
Commodity-based mutual fund | 1,823 | - | - | 1,823 | |||||||||
Totals | $ | 263,911 | $ | 10,036 | $ | -784 | $ | 273,163 | |||||
Schedule Of Contractual Maturities Of Debt Securities Excluding Debt-Based Mutual Fund Holdings | ' | ||||||||||||
Amortized | Estimated | ||||||||||||
Cost | Fair Values | ||||||||||||
(in thousands) | |||||||||||||
Within 1 year | $ | 306 | $ | 323 | |||||||||
After 1 year and through year 5 | 9,761 | 10,110 | |||||||||||
After 5 years and through year 10 | 9,804 | 10,386 | |||||||||||
After 10 years | 13,952 | 14,252 | |||||||||||
Schedule Of Gross Realized Gains And Losses On Sales Of Available-For-Sale Securities And Other Investment Income | ' | ||||||||||||
Three Months Ended March 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Realized gains | $ | 2,342 | $ | 875 | |||||||||
Realized losses | -338 | -558 | |||||||||||
Investment income | 1,565 | 1,422 | |||||||||||
Supplemental Information Regarding Available-For-Sale Securities Included In Restricted Funds | ' | ||||||||||||
Three Months Ended March 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Proceeds from sales | $ | 15,502 | $ | 10,001 | |||||||||
Purchases | 11,363 | 9,241 | |||||||||||
Acquisitions_Joint_Ventures_An1
Acquisitions, Joint Ventures And Other Activity (Tables) | 3 Months Ended | ||||||
Mar. 31, 2013 | |||||||
Acquisitions, Joint Ventures And Other Activity [Abstract] | ' | ||||||
Rollforward Of Redeemable Equity Securities | ' | ||||||
Three Months Ended March 31, | |||||||
2013 | 2012 | ||||||
Balances at the beginning of the period | $ | 212,458 | $ | 200,643 | |||
Investments by noncontrolling shareholders | - | 1,786 | |||||
Purchases of subsidiary shares from and distributions to noncontrolling shareholders | -250 | -4,256 | |||||
Balances at the end of the period | $ | 212,208 | $ | 198,173 | |||
Discontinued_Operations_And_As1
Discontinued Operations And Assets Held For Sale (Tables) | 3 Months Ended | ||
Mar. 31, 2013 | |||
Discontinued Operations And Assets Held For Sale [Abstract] | ' | ||
Schedule Of Discontinued Operations | ' | ||
Net revenue before the provision for doubtful accounts | $ | 4,334 | |
Provision for doubtful accounts | -549 | ||
Net revenue | 3,785 | ||
Salaries and benefits | 2,174 | ||
Depreciation and amortization | 1,373 | ||
Other operating expenses | 2,516 | ||
6,063 | |||
Loss before income taxes | -2,278 | ||
Income tax benefit | 883 | ||
Loss from discontinued operations | $ | -1,395 | |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2013 | |||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||
Schedule Of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||
Unrealized Gains | |||||||||
(Losses) on | |||||||||
Available-for-Sale | Interest Rate | ||||||||
Securities | Swap Contract | Totals | |||||||
Balances at January 1, 2013, net of income taxes of $27,192 | $ | 6,017 | $ | -47,957 | $ | -41,940 | |||
Unrealized gains (losses) on available-for-sale securities, | |||||||||
net of income taxes of $1,444 | 2,676 | - | 2,676 | ||||||
Adjustments for net (gains) losses reclassified into net | |||||||||
income, net of income taxes of $(499) | -928 | - | -928 | ||||||
Reclassification adjustments for amortization of expense | |||||||||
into net income, net of income taxes of $7,125 | - | 11,231 | 11,231 | ||||||
Balances at March 31, 2013, net of income taxes of $19,122 | $ | 7,765 | $ | -36,726 | $ | -28,961 | |||
Balances at January 1, 2012, net of income taxes of $60,635 | $ | 831 | $ | -96,271 | $ | -95,440 | |||
Unrealized gains (losses) on available-for-sale securities, | |||||||||
net of income taxes of $1,792 | 3,327 | - | 3,327 | ||||||
Adjustments for net (gains) losses reclassified into net | |||||||||
income, net of income taxes of $92 | 172 | - | 172 | ||||||
Reclassification adjustments for amortization of expense | |||||||||
into net income, net of income taxes of $7,940 | - | 12,513 | 12,513 | ||||||
Balances at March 31, 2012, net of income taxes of $50,811 | $ | 4,330 | $ | -83,758 | $ | -79,428 | |||
Schedule Of Supplemental Information About Accumulated Other Comprehensive Income (Loss) | ' | ||||||||
Three Months Ended March 31, | Affected Line Item in the | ||||||||
2013 | 2012 | Consolidated Statements of Income | |||||||
Available-for-sale securities | $ | -1,427 | $ | 264 | Other | ||||
Income tax expense | 499 | -92 | Provision for income taxes | ||||||
Available-for-sale securities, net reclassification | $ | -928 | $ | 172 | Consolidated net income | ||||
Interest rate swap contract | $ | 18,356 | $ | 20,453 | Interest expense | ||||
Income tax expense | -7,125 | -7,940 | Provision for income taxes | ||||||
Interest rate swap contract, net reclassification | $ | 11,231 | $ | 12,513 | Consolidated net income | ||||
Supplemental_Condensed_Consoli1
Supplemental Condensed Consolidating Financial (Tables) | 3 Months Ended | ||||||||||||||
Mar. 31, 2013 | |||||||||||||||
Supplemental Condensed Consolidating Financial [Abstract] | ' | ||||||||||||||
Schedule Of Supplemental Condensed Consolidating Financial Statements | ' | ||||||||||||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Income | |||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Net revenue before the provision for doubtful accounts | $ | - | $ | 1,059,479 | $ | 664,549 | $ | - | $ | 1,724,028 | |||||
Provision for doubtful accounts | - | -144,557 | -91,642 | - | -236,199 | ||||||||||
Net revenue | - | 914,922 | 572,907 | - | 1,487,829 | ||||||||||
Salaries and benefits | - | 337,499 | 348,179 | - | 685,678 | ||||||||||
Supplies | - | 162,788 | 72,980 | - | 235,768 | ||||||||||
Rent expense | - | 21,267 | 20,814 | - | 42,081 | ||||||||||
Other operating expenses | - | 182,697 | 141,393 | - | 324,090 | ||||||||||
Medicare and Medicaid HCIT incentive payments | - | -3,035 | -947 | - | -3,982 | ||||||||||
Equity in the earnings of consolidated subsidiaries | -72,591 | - | - | 72,591 | - | ||||||||||
Depreciation and amortization | 6,611 | 54,971 | 32,244 | - | 93,826 | ||||||||||
Interest expense | 67,239 | 2,713 | 1,539 | - | 71,491 | ||||||||||
Other | 683 | -101 | -2,473 | - | -1,891 | ||||||||||
1,942 | 758,799 | 613,729 | 72,591 | 1,447,061 | |||||||||||
Income from continuing operations before income taxes | -1,942 | 156,123 | -40,822 | -72,591 | 40,768 | ||||||||||
Income tax (expense) benefit | 25,630 | -53,687 | 15,642 | - | -12,415 | ||||||||||
Income from continuing operations | 23,688 | 102,436 | -25,180 | -72,591 | 28,353 | ||||||||||
Loss from discontinued operations, net of | |||||||||||||||
income taxes | - | - | - | - | - | ||||||||||
Consolidated net income | 23,688 | 102,436 | -25,180 | -72,591 | 28,353 | ||||||||||
Net income attributable to noncontrolling interests | - | - | -4,665 | - | -4,665 | ||||||||||
Net income (loss) attributable to Health | |||||||||||||||
Management Associates, Inc. | $ | 23,688 | $ | 102,436 | $ | -29,845 | $ | -72,591 | $ | 23,688 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Consolidated net income | $ | 23,688 | $ | 102,436 | $ | -25,180 | $ | -72,591 | $ | 28,353 | |||||
Components of other comprehensive income | |||||||||||||||
before income taxes attributable to: | |||||||||||||||
Available-for-sale securities: | |||||||||||||||
Unrealized gains (losses), net | - | - | 4,120 | - | 4,120 | ||||||||||
Adjustments for net (gains) losses reclassified | |||||||||||||||
into net income | - | - | -1,427 | - | -1,427 | ||||||||||
Interest rate swap contract: | |||||||||||||||
Reclassification adjustments for amortization | |||||||||||||||
into net income | 18,356 | - | - | - | 18,356 | ||||||||||
Other comprehensive income before income taxes | 18,356 | - | 2,693 | - | 21,049 | ||||||||||
Income tax expense related to items | |||||||||||||||
of other comprehensive income | -7,125 | - | -945 | - | -8,070 | ||||||||||
Other comprehensive income, net | 11,231 | - | 1,748 | - | 12,979 | ||||||||||
Total consolidated comprehensive income | 34,919 | 102,436 | -23,432 | -72,591 | 41,332 | ||||||||||
Total comprehensive income attributable to | |||||||||||||||
noncontrolling interests | - | - | -4,665 | - | -4,665 | ||||||||||
Total comprehensive income attributable to Health | |||||||||||||||
Management Associates, Inc. common stockholders | $ | 34,919 | $ | 102,436 | $ | -28,097 | $ | -72,591 | $ | 36,667 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Income | |||||||||||||||
Three Months Ended March 31, 2012 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Net revenue before the provision for doubtful accounts | $ | - | $ | 1,037,631 | $ | 647,637 | $ | - | $ | 1,685,268 | |||||
Provision for doubtful accounts | - | -124,545 | -76,716 | - | -201,261 | ||||||||||
Net revenue | - | 913,086 | 570,921 | - | 1,484,007 | ||||||||||
Salaries and benefits | - | 343,552 | 314,685 | - | 658,237 | ||||||||||
Supplies | - | 161,453 | 72,990 | - | 234,443 | ||||||||||
Rent expense | - | 23,855 | 21,095 | - | 44,950 | ||||||||||
Other operating expenses | - | 183,206 | 128,995 | - | 312,201 | ||||||||||
Medicare and Medicaid HCIT incentive payments | - | -2,430 | -2,160 | - | -4,590 | ||||||||||
Equity in the earnings of consolidated subsidiaries | -92,423 | - | - | 92,423 | - | ||||||||||
Depreciation and amortization | 2,695 | 47,072 | 28,580 | - | 78,347 | ||||||||||
Interest expense | 85,281 | 2,087 | 1,497 | - | 88,865 | ||||||||||
Other | -202 | -38 | 1,880 | - | 1,640 | ||||||||||
-4,649 | 758,757 | 567,562 | 92,423 | 1,414,093 | |||||||||||
Income from continuing operations before income taxes | 4,649 | 154,329 | 3,359 | -92,423 | 69,914 | ||||||||||
Income tax (expense) benefit | 33,160 | -58,268 | 1,304 | - | -23,804 | ||||||||||
Income from continuing operations | 37,809 | 96,061 | 4,663 | -92,423 | 46,110 | ||||||||||
Loss from discontinued operations, net of | |||||||||||||||
income taxes | - | - | -1,395 | - | -1,395 | ||||||||||
Consolidated net income | 37,809 | 96,061 | 3,268 | -92,423 | 44,715 | ||||||||||
Net income attributable to noncontrolling interests | - | -95 | -6,811 | - | -6,906 | ||||||||||
Net income (loss) attributable to Health | |||||||||||||||
Management Associates, Inc. | $ | 37,809 | $ | 95,966 | $ | -3,543 | $ | -92,423 | $ | 37,809 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||
Three Months Ended March 31, 2012 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Consolidated net income | $ | 37,809 | $ | 96,061 | $ | 3,268 | $ | -92,423 | $ | 44,715 | |||||
Components of other comprehensive income | |||||||||||||||
before income taxes attributable to: | |||||||||||||||
Available-for-sale securities: | |||||||||||||||
Unrealized gains (losses), net | - | - | 5,119 | - | 5,119 | ||||||||||
Adjustments for net (gains) losses reclassified | |||||||||||||||
into net income | - | - | 264 | - | 264 | ||||||||||
Interest rate swap contract: | |||||||||||||||
Reclassification adjustments for amortization | |||||||||||||||
into net income | 20,453 | - | - | - | 20,453 | ||||||||||
Other comprehensive income before income taxes | 20,453 | - | 5,383 | - | 25,836 | ||||||||||
Income tax expense related to items | |||||||||||||||
of other comprehensive income | -7,940 | - | -1,884 | - | -9,824 | ||||||||||
Other comprehensive income, net | 12,513 | - | 3,499 | - | 16,012 | ||||||||||
Total consolidated comprehensive income | 50,322 | 96,061 | 6,767 | -92,423 | 60,727 | ||||||||||
Total comprehensive income attributable to | |||||||||||||||
noncontrolling interests | - | -95 | -6,811 | - | -6,906 | ||||||||||
Total comprehensive income attributable to Health | |||||||||||||||
Management Associates, Inc. common stockholders | $ | 50,322 | $ | 95,966 | $ | -44 | $ | -92,423 | $ | 53,821 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Balance Sheet | |||||||||||||||
31-Mar-13 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Current assets: | |||||||||||||||
Cash and cash equivalents | $ | 19,932 | $ | 9,275 | $ | 8,151 | $ | - | $ | 37,358 | |||||
Available-for-sale securities | - | - | 52,207 | - | 52,207 | ||||||||||
Accounts receivable, net | - | 617,658 | 373,369 | - | 991,027 | ||||||||||
Supplies, prepaid expenses and other assets | 5,311 | 136,294 | 79,900 | - | 221,505 | ||||||||||
Prepaid and recoverable income taxes | 64,498 | - | - | - | 64,498 | ||||||||||
Restricted funds | - | - | 25,109 | - | 25,109 | ||||||||||
Assets held for sale | - | - | 6,250 | - | 6,250 | ||||||||||
Total current assets | 89,741 | 763,227 | 544,986 | - | 1,397,954 | ||||||||||
- | |||||||||||||||
Property, plant and equipment, net | 120,506 | 2,308,208 | 1,028,304 | - | 3,457,018 | ||||||||||
Investments in consolidated subsidiaries | 3,789,842 | - | - | -3,789,842 | - | ||||||||||
Restricted funds | - | - | 126,581 | - | 126,581 | ||||||||||
Intercompany receivables | 834,139 | 118,702 | - | -952,841 | - | ||||||||||
Goodwill | - | 654,500 | 371,323 | - | 1,025,823 | ||||||||||
Deferred charges and other assets | 80,788 | 111,389 | 110,046 | - | 302,223 | ||||||||||
- | |||||||||||||||
Total assets | $ | 4,915,016 | $ | 3,956,026 | $ | 2,181,240 | $ | -4,742,683 | $ | 6,309,599 | |||||
Current liabilities: | |||||||||||||||
Accounts payable | $ | 16,639 | $ | 101,412 | $ | 51,662 | $ | - | $ | 169,713 | |||||
Accrued expenses and other current liabilities | 101,266 | 229,992 | 225,516 | - | 556,774 | ||||||||||
Deferred income taxes | 27,086 | - | - | - | 27,086 | ||||||||||
Current maturities of long-term debt and | - | ||||||||||||||
capital lease obligations | 72,907 | 20,902 | 5,284 | - | 99,093 | ||||||||||
Total current liabilities | 217,898 | 352,306 | 282,462 | - | 852,666 | ||||||||||
- | |||||||||||||||
Deferred income taxes | 324,157 | - | - | - | 324,157 | ||||||||||
Long-term debt and capital lease obligations, | - | ||||||||||||||
less current maturities | 3,284,518 | 83,470 | 50,207 | - | 3,418,195 | ||||||||||
Intercompany payables | - | - | 952,841 | -952,841 | - | ||||||||||
Other long-term liabilities | 61,214 | 95,292 | 311,352 | - | 467,858 | ||||||||||
Total liabilities | 3,887,787 | 531,068 | 1,596,862 | -952,841 | 5,062,876 | ||||||||||
- | |||||||||||||||
Redeemable equity securities | - | - | 212,208 | - | 212,208 | ||||||||||
- | |||||||||||||||
Stockholders' equity: | - | ||||||||||||||
Total Health Management Associates, Inc. | - | ||||||||||||||
stockholders' equity | 1,027,229 | 3,424,958 | 364,884 | -3,789,842 | 1,027,229 | ||||||||||
Noncontrolling interests | - | - | 7,286 | - | 7,286 | ||||||||||
Total stockholders' equity | 1,027,229 | 3,424,958 | 372,170 | -3,789,842 | 1,034,515 | ||||||||||
Total liabilities and stockholders' equity | $ | 4,915,016 | $ | 3,956,026 | $ | 2,181,240 | $ | -4,742,683 | $ | 6,309,599 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Balance Sheet | |||||||||||||||
31-Dec-12 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||
Current assets: | |||||||||||||||
Cash and cash equivalents | $ | 23,214 | $ | 24,823 | $ | 11,136 | $ | - | $ | 59,173 | |||||
Available-for-sale securities | 65,376 | - | 55,730 | - | 121,106 | ||||||||||
Accounts receivable, net | - | 587,754 | 370,164 | - | 957,918 | ||||||||||
Supplies, prepaid expenses and other assets | 4,459 | 136,078 | 80,347 | - | 220,884 | ||||||||||
Prepaid and recoverable income taxes | 60,438 | - | - | - | 60,438 | ||||||||||
Restricted funds | - | - | 26,525 | - | 26,525 | ||||||||||
Assets held for sale | - | - | 6,250 | - | 6,250 | ||||||||||
Total current assets | 153,487 | 748,655 | 550,152 | - | 1,452,294 | ||||||||||
Property, plant and equipment, net | 118,699 | 2,322,678 | 1,024,513 | - | 3,465,890 | ||||||||||
Investments in consolidated subsidiaries | 3,768,249 | - | - | -3,768,249 | - | ||||||||||
Restricted funds | - | - | 125,532 | - | 125,532 | ||||||||||
Intercompany receivables | 827,770 | 24,838 | - | -852,608 | - | ||||||||||
Goodwill | - | 654,500 | 370,637 | - | 1,025,137 | ||||||||||
Deferred charges and other assets | 80,118 | 125,144 | 112,239 | - | 317,501 | ||||||||||
Total assets | $ | 4,948,323 | $ | 3,875,815 | $ | 2,183,073 | $ | -4,620,857 | $ | 6,386,354 | |||||
Current liabilities: | |||||||||||||||
Accounts payable | $ | 42,093 | $ | 112,643 | $ | 56,651 | $ | - | $ | 211,387 | |||||
Accrued expenses and other current liabilities | 120,598 | 239,281 | 249,853 | - | 609,732 | ||||||||||
Deferred income taxes | 29,026 | - | - | - | 29,026 | ||||||||||
Current maturities of long-term debt and | |||||||||||||||
capital lease obligations | 100,542 | 20,091 | 5,629 | - | 126,262 | ||||||||||
Total current liabilities | 292,259 | 372,015 | 312,133 | - | 976,407 | ||||||||||
Deferred income taxes | 301,237 | - | - | - | 301,237 | ||||||||||
Long-term debt and capital lease obligations, | |||||||||||||||
less current maturities | 3,304,667 | 82,871 | 52,815 | - | 3,440,353 | ||||||||||
Intercompany payables | - | - | 852,608 | -852,608 | - | ||||||||||
Other long-term liabilities | 71,755 | 96,250 | 292,881 | - | 460,886 | ||||||||||
Total liabilities | 3,969,918 | 551,136 | 1,510,437 | -852,608 | 5,178,883 | ||||||||||
Redeemable equity securities | - | - | 212,458 | - | 212,458 | ||||||||||
Stockholders' equity: | |||||||||||||||
Total Health Management Associates, Inc. | |||||||||||||||
stockholders' equity | 978,405 | 3,324,679 | 443,570 | -3,768,249 | 978,405 | ||||||||||
Noncontrolling interests | - | - | 16,608 | - | 16,608 | ||||||||||
Total stockholders' equity | 978,405 | 3,324,679 | 460,178 | -3,768,249 | 995,013 | ||||||||||
Total liabilities and stockholders' equity | $ | 4,948,323 | $ | 3,875,815 | $ | 2,183,073 | $ | -4,620,857 | $ | 6,386,354 | |||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Consolidated | ||||||||||||
Net cash provided by (used in) continuing operating activities | $ | -74,921 | $ | 105,608 | $ | -11,446 | $ | 19,241 | |||||||
Cash flows from investing activities: | |||||||||||||||
Additions to property, plant and equipment | -9,360 | -32,910 | -18,770 | -61,040 | |||||||||||
Acquisitions of hospitals and other ancillary health care businesses | - | - | -1,525 | -1,525 | |||||||||||
Proceeds from sales of assets and insurance recoveries | - | 321 | 251 | 572 | |||||||||||
Purchases of available-for-sale securities | -405,916 | - | -10,860 | -416,776 | |||||||||||
Proceeds from sales of available-for-sale securities | 472,063 | - | 15,564 | 487,627 | |||||||||||
Decrease in restricted funds, net | - | - | 3,253 | 3,253 | |||||||||||
Net cash provided by (used in) continuing investing activities | 56,787 | -32,589 | -12,087 | 12,111 | |||||||||||
Cash flows from financing activities: | |||||||||||||||
Proceeds from long-term debt borrowings | 71,400 | - | - | 71,400 | |||||||||||
Principal payments on debt and capital lease obligations | -120,182 | -4,971 | -1,175 | -126,328 | |||||||||||
Payments of debt issuance costs | -1,588 | - | - | -1,588 | |||||||||||
Proceeds from exercises of stock options | 13,197 | - | - | 13,197 | |||||||||||
Cash payments to noncontrolling shareholders | - | - | -14,236 | -14,236 | |||||||||||
Changes in intercompany balances, net | 47,637 | -83,596 | 35,959 | - | |||||||||||
Equity compensation excess income tax benefits | 4,388 | - | - | 4,388 | |||||||||||
Net cash provided by (used in) continuing financing activities | 14,852 | -88,567 | 20,548 | -53,167 | |||||||||||
Net increase (decrease) in cash and cash equivalents | -3,282 | -15,548 | -2,985 | -21,815 | |||||||||||
Cash and cash equivalents at the beginning of the period | 23,214 | 24,823 | 11,136 | 59,173 | |||||||||||
Cash and cash equivalents at the end of the period | $ | 19,932 | $ | 9,275 | $ | 8,151 | $ | 37,358 | |||||||
Health Management Associates, Inc. | |||||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||
Three Months Ended March 31, 2012 | |||||||||||||||
(in thousands) | |||||||||||||||
Parent Issuer | Guarantor Subsidiaries | Non- Guarantor Subsidiaries | Consolidated | ||||||||||||
Net cash provided by (used in) continuing operating activities | $ | -9,025 | $ | 87,285 | $ | -16,200 | $ | 62,060 | |||||||
Cash flows from investing activities: | |||||||||||||||
Additions to property, plant and equipment | -13,169 | -52,593 | -15,028 | -80,790 | |||||||||||
Acquisitions of hospitals and other ancillary health care businesses | - | -800 | -80,817 | -81,617 | |||||||||||
Proceeds from sales of assets and insurance recoveries | - | - | 808 | 808 | |||||||||||
Purchases of available-for-sale securities | -431,273 | - | -8,428 | -439,701 | |||||||||||
Proceeds from sales of available-for-sale securities | 512,969 | - | 8,217 | 521,186 | |||||||||||
Decrease in restricted funds, net | - | - | 782 | 782 | |||||||||||
Net cash provided by (used in) continuing investing activities | 68,527 | -53,393 | -94,466 | -79,332 | |||||||||||
Cash flows from financing activities: | |||||||||||||||
Principal payments on debt and capital lease obligations | -17,236 | -2,498 | -1,065 | -20,799 | |||||||||||
Cash received from noncontrolling shareholders | - | - | 1,786 | 1,786 | |||||||||||
Cash payments to noncontrolling shareholders | - | -1,127 | -16,759 | -17,886 | |||||||||||
Changes in intercompany balances, net | -87,354 | -45,154 | 132,508 | - | |||||||||||
Equity compensation excess income tax benefits | 1,400 | - | - | 1,400 | |||||||||||
Net cash provided by (used in) continuing financing activities | -103,190 | -48,779 | 116,470 | -35,499 | |||||||||||
Net increase (decrease) in cash and cash equivalents | |||||||||||||||
before discontinued operations | -43,688 | -14,887 | 5,804 | -52,771 | |||||||||||
Net cash used in discontinued operations | - | - | -2,976 | -2,976 | |||||||||||
Net increase (decrease) in cash and cash equivalents | -43,688 | -14,887 | 2,828 | -55,747 | |||||||||||
Cash and cash equivalents at the beginning of the period | 28,611 | 44,541 | -9,009 | 64,143 | |||||||||||
Cash and cash equivalents at the end of the period | $ | -15,077 | $ | 29,654 | $ | -6,181 | $ | 8,396 | |||||||
Business_And_Basis_Of_Presenta1
Business And Basis Of Presentation (Details) | 3 Months Ended |
Mar. 31, 2013 | |
state | |
entity | |
item | |
Business And Basis Of Presentation [Line Items] | ' |
Number of hospitals in operation | 70 |
Number of states in which hospitals operate | 15 |
Number of licensed beds | 10,585 |
Florida [Member] | ' |
Business And Basis Of Presentation [Line Items] | ' |
Number of hospitals | 22 |
Mississippi [Member] | ' |
Business And Basis Of Presentation [Line Items] | ' |
Number of hospitals | 10 |
Tennessee [Member] | ' |
Business And Basis Of Presentation [Line Items] | ' |
Number of hospitals | 9 |
Restatement_And_Revision_Of_Pr2
Restatement And Revision Of Previously Reported Consolidated Financial Statements (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 24 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 |
item | |||||
Restatement And Revision Of Previously Reported Consolidated Financial Statements [Abstract] | ' | ' | ' | ' | ' |
Number of hospitals that did not meet the HCIT meaningful use criteria payments | 11 | ' | ' | ' | ' |
Required payment to repay Centers for Medicare and Medicaid Services | ' | $5.40 | $17.30 | $8.30 | $31 |
Restatement_And_Revision_Of_Pr3
Restatement And Revision Of Previously Reported Consolidated Financial Statements (Consolidated Statements Of Income And Comprehensive) (Details) (USD $) | 3 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Net revenue before the provision for doubtful accounts | $1,724,028 | [1] | $1,685,268 | [1] |
Provision for doubtful accounts | -236,199 | [1] | -201,261 | [1] |
Net revenue | 1,487,829 | [1] | 1,484,007 | [1] |
Salaries and benefits | 685,678 | [1] | 658,237 | [1] |
Supplies | 235,768 | [1] | 234,443 | [1] |
Rent expense | 42,081 | [1] | 44,950 | [1] |
Other operating expenses | 324,090 | [1] | 312,201 | [1] |
Medicare and Medicaid HCIT incentive payments | -3,982 | [1] | -4,590 | [1] |
Depreciation and amortization | 93,826 | [1] | 78,347 | [1] |
Interest expense | 71,491 | [1] | 88,865 | [1] |
Other | -1,891 | [1] | 1,640 | [1] |
Income from continuing operations before income taxes | 40,768 | [1] | 69,914 | [1] |
Provision for income taxes | -12,415 | [1] | -23,804 | [1] |
Income from continuing operations | 28,353 | [1] | 46,110 | [1] |
Loss from discontinued operations, net of income taxes | ' | [1] | -1,395 | [1] |
Consolidated net income | 28,353 | [1] | 44,715 | [1] |
Net income attributable to noncontrolling interests | -4,665 | [1] | -6,906 | [1] |
Net income attributable to Health Management Associates, Inc. | 23,688 | [1] | 37,809 | [1] |
Total consolidated comprehensive income | 41,332 | [1] | 60,727 | [1] |
Basic and diluted | ' | ' | ||
Continuing operations | $0.09 | [1] | ' | |
Net income | $0.09 | [1] | ' | |
Basic | ' | ' | ||
Continuing operations | $0.09 | [1] | $0.15 | [1] |
Discontinued operations | ' | [1] | ' | [1] |
Net income | $0.09 | [1] | $0.15 | [1] |
Diluted | ' | ' | ||
Continuing operations | $0.09 | [1] | $0.15 | [1] |
Discontinued operations | ' | [1] | ' | [1] |
Net income | $0.09 | [1] | $0.15 | [1] |
As Previously Reported [Member] | ' | ' | ||
Net revenue before the provision for doubtful accounts | 1,723,841 | 1,686,518 | ||
Provision for doubtful accounts | -240,879 | -201,261 | ||
Net revenue | 1,482,962 | 1,485,257 | ||
Salaries and benefits | 684,191 | 659,084 | ||
Supplies | 235,768 | 234,443 | ||
Rent expense | 42,156 | 45,025 | ||
Other operating expenses | 325,775 | 311,780 | ||
Medicare and Medicaid HCIT incentive payments | -3,826 | -4,590 | ||
Depreciation and amortization | 93,875 | 78,394 | ||
Interest expense | 69,429 | 88,763 | ||
Other | -1,891 | 1,640 | ||
Income from continuing operations before income taxes | 37,485 | 70,718 | ||
Provision for income taxes | -9,718 | -24,727 | ||
Income from continuing operations | 27,767 | 45,991 | ||
Loss from discontinued operations, net of income taxes | ' | -1,395 | ||
Consolidated net income | 27,767 | 44,596 | ||
Net income attributable to noncontrolling interests | -4,665 | -6,906 | ||
Net income attributable to Health Management Associates, Inc. | 23,102 | 37,690 | ||
Total consolidated comprehensive income | 40,746 | 60,608 | ||
Basic and diluted | ' | ' | ||
Continuing operations | $0.09 | ' | ||
Net income | $0.09 | ' | ||
Basic | ' | ' | ||
Continuing operations | ' | $0.15 | ||
Net income | ' | $0.15 | ||
Diluted | ' | ' | ||
Continuing operations | ' | $0.15 | ||
Net income | ' | $0.15 | ||
Adjustment [Member] | ' | ' | ||
Net revenue before the provision for doubtful accounts | 187 | -1,250 | ||
Provision for doubtful accounts | 4,680 | ' | ||
Net revenue | 4,867 | -1,250 | ||
Salaries and benefits | 1,487 | -847 | ||
Rent expense | -75 | -75 | ||
Other operating expenses | -1,685 | 421 | ||
Medicare and Medicaid HCIT incentive payments | -156 | ' | ||
Depreciation and amortization | -49 | -47 | ||
Interest expense | 2,062 | 102 | ||
Income from continuing operations before income taxes | 3,283 | -804 | ||
Provision for income taxes | -2,697 | 923 | ||
Income from continuing operations | 586 | 119 | ||
Consolidated net income | 586 | 119 | ||
Net income attributable to Health Management Associates, Inc. | 586 | 119 | ||
Total consolidated comprehensive income | $586 | $119 | ||
[1] | Restated |
Restatement_And_Revision_Of_Pr4
Restatement And Revision Of Previously Reported Consolidated Financial Statements (Consolidated Balance Sheet) (Details) (USD $) | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | ||||
In Thousands, unless otherwise specified | ||||||||
Accounts receivable, less allowance for doubtful accounts | $991,027 | [1] | $957,918 | [1] | ' | ' | ||
Prepaid and recoverable income taxes | 64,498 | [1] | 60,438 | [1] | ' | ' | ||
Other current assets | 342,429 | 494,376 | [1] | ' | ' | |||
Total current assets | 1,397,954 | [1] | 1,452,294 | [1] | ' | ' | ||
Net property, plant and equipment | 3,457,018 | [1] | 3,465,890 | [1] | ' | ' | ||
Goodwill | 1,025,823 | [1] | 1,025,137 | [1] | ' | ' | ||
Other long-term assets | 428,804 | 443,033 | [1] | ' | ' | |||
Total assets | 6,309,599 | [1] | 6,386,354 | [1] | ' | ' | ||
Accounts payable | 169,713 | [1] | 211,387 | [1] | ' | ' | ||
Accrued expenses and other liabilities | 556,774 | [1] | 609,732 | [1] | ' | ' | ||
Accrued expenses and accrued liabilities | ' | 463,813 | [1] | ' | ' | |||
Due to third party payors | ' | 51,642 | [1] | ' | ' | |||
Deferred income taxes | 27,086 | [1] | 29,026 | [1] | ' | ' | ||
Other current liabilities | 99,093 | 431,926 | [1] | ' | ' | |||
Total current liabilities | 852,666 | [1] | 976,407 | [1] | ' | ' | ||
Long-term debt and capital lease obligations, less current maturities | 3,418,195 | [1] | 3,440,353 | [1] | ' | ' | ||
Other long-term liabilities | 792,015 | 762,123 | [1] | ' | ' | |||
Redeemable equity securities | 212,208 | [1] | 212,458 | [1] | 198,173 | 200,643 | ||
Total stockholders' equity | 1,034,515 | [1] | 995,013 | [1] | 822,520 | [1] | 773,927 | [1] |
Total liabilities and stockholders' equity | 6,309,599 | [1] | 6,386,354 | [1] | ' | ' | ||
As Previously Reported [Member] | ' | ' | ' | ' | ||||
Accounts receivable, less allowance for doubtful accounts | 1,003,128 | 976,872 | ' | ' | ||||
Prepaid and recoverable income taxes | 64,749 | ' | ' | ' | ||||
Other current assets | 342,429 | 494,376 | ' | ' | ||||
Total current assets | 1,410,306 | 1,471,248 | ' | ' | ||||
Net property, plant and equipment | 3,454,132 | 3,463,052 | ' | ' | ||||
Goodwill | 1,024,142 | 1,023,456 | ' | ' | ||||
Other long-term assets | 428,804 | 443,033 | ' | ' | ||||
Total assets | 6,317,384 | 6,400,789 | ' | ' | ||||
Accounts payable | 169,713 | ' | ' | ' | ||||
Accrued expenses and other liabilities | 531,643 | ' | ' | ' | ||||
Accrued expenses and accrued liabilities | ' | 469,055 | ' | ' | ||||
Due to third party payors | ' | 26,470 | ' | ' | ||||
Deferred income taxes | 42,611 | 45,170 | ' | ' | ||||
Other current liabilities | 98,891 | 431,728 | ' | ' | ||||
Total current liabilities | 842,858 | 972,423 | ' | ' | ||||
Long-term debt and capital lease obligations, less current maturities | 3,411,004 | 3,433,260 | ' | ' | ||||
Other long-term liabilities | 791,873 | 762,123 | ' | ' | ||||
Redeemable equity securities | 212,208 | 212,458 | ' | ' | ||||
Total stockholders' equity | 1,059,441 | 1,020,525 | ' | ' | ||||
Total liabilities and stockholders' equity | 6,317,384 | 6,400,789 | ' | ' | ||||
Adjustment [Member] | ' | ' | ' | ' | ||||
Accounts receivable, less allowance for doubtful accounts | -12,101 | -18,954 | ' | ' | ||||
Prepaid and recoverable income taxes | -251 | ' | ' | ' | ||||
Total current assets | -12,352 | -18,954 | ' | ' | ||||
Net property, plant and equipment | 2,886 | 2,838 | ' | ' | ||||
Goodwill | 1,681 | 1,681 | ' | ' | ||||
Total assets | -7,785 | -14,435 | ' | ' | ||||
Accrued expenses and other liabilities | 25,131 | ' | ' | ' | ||||
Accrued expenses and accrued liabilities | ' | -5,242 | ' | ' | ||||
Due to third party payors | ' | 25,172 | ' | ' | ||||
Deferred income taxes | -15,525 | -16,144 | ' | ' | ||||
Other current liabilities | 202 | 198 | ' | ' | ||||
Total current liabilities | 9,808 | 3,984 | ' | ' | ||||
Long-term debt and capital lease obligations, less current maturities | 7,191 | 7,093 | ' | ' | ||||
Other long-term liabilities | 142 | ' | ' | ' | ||||
Total stockholders' equity | -24,926 | -25,512 | ' | ' | ||||
Total liabilities and stockholders' equity | ($7,785) | ($14,435) | ' | ' | ||||
[1] | Restated |
Restatement_And_Revision_Of_Pr5
Restatement And Revision Of Previously Reported Consolidated Financial Statements (Consolidated Statements Of Cash Flows) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Cash flows from operating activities: | ' | ' | ||
Consolidated net income | $28,353 | [1] | $44,715 | [1] |
Depreciation and amortization | 97,123 | [1] | 81,109 | [1] |
Provision for doubtful accounts | 236,199 | [1] | 201,261 | [1] |
Deferred income tax expense | 12,909 | [1] | -9,636 | [1] |
Accounts receivable | -280,611 | [1] | -296,532 | [1] |
Prepaid and recoverable income taxes | -2,851 | [1] | 31,063 | [1] |
Accounts payable | -39,673 | [1] | -14,140 | [1] |
Accrued expenses and other liabilities | -44,945 | [1] | -9,462 | [1] |
Other cash flows from operating activities | -26,936 | [1] | 225,481 | |
Net cash provided by continuing operating activities | 19,241 | [1] | 62,060 | [1] |
Cash flows from investing activities: | ' | ' | ||
Additions to property, plant and equipment | -61,040 | [1] | -80,790 | [1] |
Other cash flows from investing activities | 73,151 | [1] | 1,458 | |
Net cash provided by (used in) continuing investing activities | 12,111 | [1] | -79,332 | [1] |
Cash flows from financing activities: | ' | ' | ||
Net cash used in continuing financing activities | -53,167 | [1] | -35,499 | [1] |
Net decreases in cash and cash equivalents from discontinued operations: | ' | ' | ||
Discontinued operations | ' | -2,976 | ||
Net decrease in cash and cash equivalents | -21,815 | [1] | -55,747 | [1] |
Cash and cash equivalents at the beginning of the period | 59,173 | [1] | 64,143 | [1] |
Cash and cash equivalents at the end of the period | 37,358 | [1] | 8,396 | [1] |
As Previously Reported [Member] | ' | ' | ||
Cash flows from operating activities: | ' | ' | ||
Consolidated net income | 27,767 | 44,596 | ||
Depreciation and amortization | 97,172 | 81,156 | ||
Provision for doubtful accounts | 240,879 | 201,261 | ||
Deferred income tax expense | 12,148 | -9,451 | ||
Accounts receivable | -278,438 | -297,782 | ||
Prepaid and recoverable income taxes | -3,102 | 31,380 | ||
Accounts payable | ' | -13,293 | ||
Accrued expenses and other liabilities | -50,147 | ' | ||
Other cash flows from operating activities | -26,936 | 225,481 | ||
Net cash provided by continuing operating activities | 19,343 | 62,087 | ||
Cash flows from investing activities: | ' | ' | ||
Additions to property, plant and equipment | -61,142 | -80,817 | ||
Other cash flows from investing activities | 73,151 | 1,458 | ||
Net cash provided by (used in) continuing investing activities | 12,009 | -79,359 | ||
Cash flows from financing activities: | ' | ' | ||
Net cash used in continuing financing activities | -53,167 | -35,499 | ||
Net decreases in cash and cash equivalents from discontinued operations: | ' | ' | ||
Discontinued operations | ' | -2,976 | ||
Net decrease in cash and cash equivalents | -21,815 | -55,747 | ||
Cash and cash equivalents at the beginning of the period | 59,173 | 64,143 | ||
Cash and cash equivalents at the end of the period | 37,358 | 8,396 | ||
Adjustment [Member] | ' | ' | ||
Cash flows from operating activities: | ' | ' | ||
Consolidated net income | 586 | 119 | ||
Depreciation and amortization | -49 | -47 | ||
Provision for doubtful accounts | -4,680 | ' | ||
Deferred income tax expense | 761 | -185 | ||
Accounts receivable | -2,173 | 1,250 | ||
Prepaid and recoverable income taxes | 251 | -317 | ||
Accounts payable | ' | -847 | ||
Accrued expenses and other liabilities | 5,202 | ' | ||
Net cash provided by continuing operating activities | -102 | -27 | ||
Cash flows from investing activities: | ' | ' | ||
Additions to property, plant and equipment | 102 | 27 | ||
Net cash provided by (used in) continuing investing activities | $102 | $27 | ||
[1] | Restated |
Net_Revenue_Provision_For_Doub2
Net Revenue, Provision For Doubtful Accounts, Cost Of Revenue And Other (Narrative) (Details) (USD $) | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Dec. 31, 2012 | |||
Self-Pay Uninsured patent Accounts [Member] | Self-Pay Uninsured patent Accounts [Member] | Government Payors, Manage Care Health Plans, And Other Commercial Payors [Member] | Government Payors, Manage Care Health Plans, And Other Commercial Payors [Member] | HCIT Programs [Member] | HCIT Programs [Member] | ||||||
Percentage discount of gross charges to uninsured self-pay patients for non-elective procedures | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ||
Percentage of allowance for doubtful accounts of total accounts receivable balance | ' | ' | ' | 74.40% | 72.60% | 6.50% | 6.30% | ' | ' | ||
Write-offs of patient accounts receivable | $233,700,000 | $183,900,000 | ' | ' | ' | ' | ' | ' | ' | ||
General and administrative expenses for home office | 82,500,000 | 66,200,000 | ' | ' | ' | ' | ' | ' | ' | ||
Medicare And Medicaid HCIT Incentive Payments | -3,982,000 | [1] | -4,590,000 | [1] | ' | ' | ' | ' | ' | ' | ' |
Receivables, Net, Current | ' | ' | ' | ' | ' | ' | ' | 9,600,000 | 11,700,000 | ||
Deferred incentive payment liabilities | $19,000,000 | ' | $19,200,000 | ' | ' | ' | ' | ' | ' | ||
[1] | Restated |
Net_Revenue_Provision_For_Doub3
Net Revenue, Provision For Doubtful Accounts, Cost Of Revenue And Other (Schedule Of Patients Service Revenue, Net Of Contractual Allowances And Discounts) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Revenue From Third-Party Payors [Line Items] | ' | ' | ||
Patients service revenue | $1,724,028 | [1] | $1,685,268 | [1] |
Patients service revenue, percentage | 100.00% | 100.00% | ||
Medicare [Member] | ' | ' | ||
Revenue From Third-Party Payors [Line Items] | ' | ' | ||
Patients service revenue | 512,401 | 503,893 | ||
Patients service revenue, percentage | 29.70% | 29.90% | ||
Medicaid [Member] | ' | ' | ||
Revenue From Third-Party Payors [Line Items] | ' | ' | ||
Patients service revenue | 177,449 | 180,289 | ||
Patients service revenue, percentage | 10.30% | 10.70% | ||
Commercial Insurance [Member] | ' | ' | ||
Revenue From Third-Party Payors [Line Items] | ' | ' | ||
Patients service revenue | 820,294 | 817,151 | ||
Patients service revenue, percentage | 47.60% | 48.50% | ||
Self-Pay [Member] | ' | ' | ||
Revenue From Third-Party Payors [Line Items] | ' | ' | ||
Patients service revenue | 171,547 | 163,435 | ||
Patients service revenue, percentage | 10.00% | 9.70% | ||
Other [Member] | ' | ' | ||
Revenue From Third-Party Payors [Line Items] | ' | ' | ||
Patients service revenue | $42,337 | $20,500 | ||
Patients service revenue, percentage | 2.40% | 1.20% | ||
[1] | Restated |
LongTerm_Debt_And_Capital_Leas2
Long-Term Debt And Capital Lease Obligations (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | ||||||||||
Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2012 | 1-May-13 | 1-May-13 | Nov. 18, 2011 | Mar. 31, 2013 | Nov. 18, 2011 | Nov. 18, 2011 | 1-May-13 | Mar. 31, 2013 | Nov. 18, 2011 | Mar. 31, 2013 | 1-May-13 | Mar. 20, 2013 | ||
Revolving Credit Agreement [Member] | Revolving Credit Agreement [Member] | Revolving Credit Agreement [Member] | 2020 Senior Notes [Member] | Term Loan A [Member] | Term Loan A [Member] | Term Loan A [Member] | New Term Loan B/Term Loan B [Member] | New Term Loan B/Term Loan B [Member] | New Term Loan B/Term Loan B [Member] | New Term Loan B/Term Loan B [Member] | ||||||
Long-Term Debt And Capital Lease Obligations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revolving credit facility, maximum borrowing capacity | ' | ' | ' | ' | ' | $500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Debt instrument, face amount | ' | ' | ' | ' | ' | ' | ' | ' | 725,000,000 | ' | ' | 1,400,000,000 | ' | ' | ' | |
Revolving credit facilities, term | ' | ' | ' | ' | ' | '5 years | ' | ' | '5 years | ' | ' | '7 years | ' | ' | ' | |
Debt instrument, interest rate | ' | ' | ' | ' | 3.00% | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | |
The floor percentage for the reference rate when the LIBOR rate is selected | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | |
The floor percentage for the reference rate when the Base Rate is selected | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | |
Reduction in interest rate floors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | |
Reduction in interest rate spread | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | |
Effective interest rate | ' | ' | ' | ' | ' | ' | 2.80% | ' | ' | 2.80% | 2.80% | ' | 3.50% | 3.50% | ' | |
Standby letters of credit maximum limit amount | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | |
Revolving credit agreement, current amount available for borrowing | ' | ' | ' | 178,500,000 | 268,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revolving credit facilities, outstanding standby letters of credit | ' | ' | ' | 52,900,000 | ' | ' | 71,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | |
Amount borrowed and repaid | 71,400,000 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount repaid under credit agreement | ' | ' | 31,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Credit facilities percentage of excess cash flow mandatory prepayment | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Amount borrowed | ' | ' | ' | ' | 210,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Payments for debt issuance costs | -1,588,000 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid for interest on long-term debt instrument, including amounts that have been capitalized | 76,300,000 | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Capital leases and other similar arrangements for real property and equipment | 3,300,000 | 6,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Write-offs of deferred debt issuance costs | $400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | Restated |
LongTerm_Debt_And_Capital_Leas3
Long-Term Debt And Capital Lease Obligations (Summary Of Long-Term Debt And Capital Lease Obligations) (Details) (USD $) | Mar. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Long-Term Debt And Capital Lease Obligations [Line Items] | ' | ' | ||
Long-term debt and capital lease obligations | $3,517,288 | $3,566,615 | ||
Less current maturities | -99,093 | [1] | -126,262 | [1] |
Long-term debt and capital lease obligations, less current maturities | 3,418,195 | [1] | 3,440,353 | [1] |
Revolving Credit Facilities [Member] | ' | ' | ||
Long-Term Debt And Capital Lease Obligations [Line Items] | ' | ' | ||
Long-term debt and capital lease obligations | ' | ' | ||
Term Loan A [Member] | ' | ' | ||
Long-Term Debt And Capital Lease Obligations [Line Items] | ' | ' | ||
Long-term debt and capital lease obligations | 646,750 | 670,625 | ||
Term Loan B, Net Of Discounts [Member] | ' | ' | ||
Long-Term Debt And Capital Lease Obligations [Line Items] | ' | ' | ||
Long-term debt and capital lease obligations | 1,350,252 | 1,374,318 | ||
7.375% Senior Notes Due 2020 [Member] | ' | ' | ||
Long-Term Debt And Capital Lease Obligations [Line Items] | ' | ' | ||
Long-term debt and capital lease obligations | 875,000 | 875,000 | ||
Debt instrument, interest rate | 7.38% | ' | ||
Debt maturity date | '2020 | ' | ||
6.125% Senior Notes Due 2016, Net Of Discounts [Member] | ' | ' | ||
Long-Term Debt And Capital Lease Obligations [Line Items] | ' | ' | ||
Long-term debt and capital lease obligations | 398,877 | 398,785 | ||
Debt instrument, interest rate | 6.13% | ' | ||
Debt maturity date | '2016 | ' | ||
3.75% Convertible Senior Subordinated Notes Due 2028, Net Of Discounts [Member] | ' | ' | ||
Long-Term Debt And Capital Lease Obligations [Line Items] | ' | ' | ||
Long-term debt and capital lease obligations | 86,545 | 85,522 | ||
Installment Notes And Other Unsecured Long-Term Debt [Member] | ' | ' | ||
Long-Term Debt And Capital Lease Obligations [Line Items] | ' | ' | ||
Long-term debt and capital lease obligations | 13,482 | 13,988 | ||
Capital Lease Obligations [Member] | ' | ' | ||
Long-Term Debt And Capital Lease Obligations [Line Items] | ' | ' | ||
Long-term Debt and capital lease obligations | $146,382 | $148,377 | ||
[1] | Restated |
Earnings_Per_Share_And_Related2
Earnings Per Share And Related Other (Narrative) (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2013 |
Earnings Per Share And Related Other [Abstract] | ' |
Deferred stock awards | $3 |
Vesting per annum | 25.00% |
Earnings_Per_Share_And_Related3
Earnings Per Share And Related Other (Schedule Of Computations Of Basic And Diluted Earnings (Loss) Per Share) (Details) (USD $) | 3 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ||
Income from continuing operations | $28,353 | [1] | $46,110 | [1] |
Income attributable to noncontrolling interests | -4,665 | -6,906 | ||
Income from continuing operations attributable to Health Management Associates, Inc. common stockholders | 23,688 | 39,204 | ||
Loss from discontinued operations attributable to Health Management Associates, Inc. common stockholders | ' | -1,395 | ||
Net income attributable to Health Management Associates, Inc. | $23,688 | [1] | $37,809 | [1] |
Denominator for basic earnings per share-weighted average number of outstanding common shares | 256,152 | [1] | 253,316 | [1] |
Dilutive securities: stock-based compensation arrangements | 4,398 | 2,383 | ||
Denominator for diluted earnings per share | 260,550 | [1] | 255,699 | [1] |
Continuing operations, Basic | $0.09 | [1] | $0.15 | [1] |
Discontinued operations, Basic | ' | [1] | ' | [1] |
Net income, Basic | $0.09 | [1] | $0.15 | [1] |
Continuing operations, Diluted | $0.09 | [1] | $0.15 | [1] |
Discontinued operations, Diluted | ' | [1] | ' | [1] |
Net income, Diluted | $0.09 | [1] | $0.15 | [1] |
Stock Options [Member] | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ||
Securities excluded from diluted earnings per share because they were antidilutive or performance conditions were not met: Stock options | 2,225 | 4,586 | ||
Deferred Stock And Restricted Stock [Member] | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ||
Securities excluded from diluted earnings per share because they were antidilutive or performance conditions were not met: Stock options | 525 | 967 | ||
[1] | Restated |
Fair_Value_Measurements_Availa2
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2013 | Dec. 31, 2012 | |
item | item | |
Available-for-sale securities, including those in restricted funds | $203,897,000 | $273,163,000 |
Available-for-sale securities | 203,897,000 | 273,163,000 |
Estimated available-for-sale securities in unrealized losses positions | 55,100,000 | 123,800,000 |
Number of mutual funds investments in a gross unrealized losses position | 146 | 195 |
Level 2 [Member] | ' | ' |
Available-for-sale securities, including those in restricted funds | 151,807,000 | 222,007,000 |
Available-for-sale securities | 151,807,000 | 222,007,000 |
Level 2 [Member] | Fixed Income Securities [Member] | ' | ' |
Available-for-sale securities, including those in restricted funds | ' | 175,400,000 |
Available-for-sale securities | ' | $175,400,000 |
Fair_Value_Measurements_Availa3
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds (Schedule Of Estimated Fair Values Of Financial Assets (Liabilities)) (Details) (USD $) | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale securities, including those in restricted funds | $203,897 | $273,163 |
Interest rate swap contract | -71,785 | -93,045 |
Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale securities, including those in restricted funds | 52,090 | 51,156 |
Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available-for-sale securities, including those in restricted funds | 151,807 | 222,007 |
Interest rate swap contract | ($71,785) | ($93,045) |
Fair_Value_Measurements_Availa4
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds (Schedule Of Estimated Fair Value Of Interest Rate Swap Contract Liabilities) (Details) (USD $) | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds [Abstract] | ' | ' |
Accrued expenses and other liabilities | $71,785 | $84,277 |
Other long-term liabilities | ' | 8,768 |
Totals | $71,785 | $93,045 |
Fair_Value_Measurements_Availa5
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds (Estimated Fair Values Of Long-Term Debt Instruments) (Details) (USD $) | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
2016 Senior Notes [Member] | ' | ' |
Debt instrument, interest rate | 6.13% | ' |
Debt maturity date | '2016 | ' |
2020 Senior Notes [Member] | ' | ' |
Debt instrument, interest rate | 7.38% | ' |
Debt maturity date | '2020 | ' |
2028 Convertible Senior Subordinated Note [Member] | ' | ' |
Debt instrument, interest rate | 3.75% | ' |
Debt maturity date | '2028 | ' |
Level 1 [Member] | 2016 Senior Notes [Member] | ' | ' |
Estimated fair values of long-term debt instruments | $441,000 | $434,000 |
Level 1 [Member] | 2020 Senior Notes [Member] | ' | ' |
Estimated fair values of long-term debt instruments | 962,500 | 945,000 |
Level 1 [Member] | 2028 Convertible Senior Subordinated Note [Member] | ' | ' |
Estimated fair values of long-term debt instruments | 120,299 | 100,948 |
Level 2 [Member] | Term Loan A [Member] | ' | ' |
Estimated fair values of long-term debt instruments | 649,143 | 672,704 |
Level 2 [Member] | New Term Loan B/Term Loan B [Member] | ' | ' |
Estimated fair values of long-term debt instruments | $1,375,681 | $1,397,227 |
Fair_Value_Measurements_Availa6
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds (Schedule Of Available-For-Sale Securities) (Details) (USD $) | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $191,951 | $263,911 |
Gross Unrealized Gains | 12,787 | 10,036 |
Gross Unrealized Losses | -841 | -784 |
Estimated Fair Values | 203,897 | 273,163 |
Government Debt Securities And Debt-Based Mutual Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 49,053 | 120,415 |
Gross Unrealized Gains | 520 | 692 |
Gross Unrealized Losses | -307 | -321 |
Estimated Fair Values | 49,266 | 120,786 |
Corporate Debt Securities And Debt-Based Mutual Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 88,939 | 85,843 |
Gross Unrealized Gains | 3,501 | 3,271 |
Gross Unrealized Losses | -47 | -10 |
Estimated Fair Values | 92,393 | 89,104 |
Domestic Equity Securities And Equity-Based Mutual Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 35,379 | 37,825 |
Gross Unrealized Gains | 6,598 | 4,307 |
Gross Unrealized Losses | -137 | -234 |
Estimated Fair Values | 41,840 | 41,898 |
International Equity Securities And Equity-Based Mutual Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 17,122 | 18,005 |
Gross Unrealized Gains | 2,168 | 1,766 |
Gross Unrealized Losses | -296 | -219 |
Estimated Fair Values | 18,994 | 19,552 |
Commodity-Based Mutual Fund [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,458 | 1,823 |
Gross Unrealized Gains | ' | ' |
Gross Unrealized Losses | -54 | ' |
Estimated Fair Values | $1,404 | $1,823 |
Fair_Value_Measurements_Availa7
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds (Schedule Of Contractual Maturities Of Debt Securities Excluding Debt-Based Mutual Fund Holdings) (Details) (USD $) | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds [Abstract] | ' |
Amortized Cost, Within 1 year | $306 |
Amortized Cost, After 1 year and through year 5 | 9,761 |
Amortized Cost, After 5 years and through year 10 | 9,804 |
Amortized Cost, After 10 years | 13,952 |
Estimated Fair Value, Within 1 year | 323 |
Estimated Fair Value, After 1 year and through year 5 | 10,110 |
Estimated Fair Value, After 5 years and through year 10 | 10,386 |
Estimated Fair Value, After 10 years | $14,252 |
Fair_Value_Measurements_Availa8
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds (Schedule Of Gross Realized Gains And Losses On Sales Of Available-For-Sale Securities And Other Investment Income) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 |
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds [Abstract] | ' | ' |
Realized gains | $2,342 | $875 |
Realized losses | -338 | -558 |
Investment income | $1,565 | $1,422 |
Fair_Value_Measurements_Availa9
Fair Value Measurements, Available-For-Sale Securities And Restricted Funds (Supplemental Information Regarding Available-For-Sale Securities Included In Restricted Funds) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Proceeds from sales | $487,627 | [1] | $521,186 | [1] |
Purchases | 416,776 | [1] | 439,701 | [1] |
Restricted Funds [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Proceeds from sales | 15,502 | 10,001 | ||
Purchases | $11,363 | $9,241 | ||
[1] | Restated |
Acquisitions_Joint_Ventures_An2
Acquisitions, Joint Ventures And Other Activity (Narrative) (Details) (USD $) | 3 Months Ended | 0 Months Ended | ||||||
Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2012 | Apr. 01, 2012 | Mar. 31, 2013 | |||
agreement | Ancillary Health Care Businesses [Member] | Ancillary Health Care Businesses [Member] | General Acute Care Hospitals In Oklahoma [Member] | General Acute Care Hospitals In Oklahoma [Member] | ||||
item | entity | item | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ||
Acquired interest | ' | ' | ' | ' | 80.00% | ' | ||
Combined ownership percentage of a parent and noncontrolling shareholders | ' | ' | ' | ' | 100.00% | ' | ||
Combined cash consideration | ' | ' | ' | ' | $77,100,000 | ' | ||
Number of licensed beds | 10,585 | ' | ' | ' | ' | 218 | ||
Ownership interest percentage by noncontrolling interest | ' | ' | ' | ' | 20.00% | ' | ||
Payment of cash consideration for businesses acquired | $1,525,000 | [1] | $81,617,000 | [1] | $1,500,000 | $4,500,000 | $61,900,000 | ' |
Number of established joint ventures at the end of the reporting period | 28 | ' | ' | ' | ' | ' | ||
Number of general acute care hospitals, assets acquired | ' | ' | ' | ' | 5 | ' | ||
[1] | Restated |
Acquisitions_Joint_Ventures_An3
Acquisitions, Joint Ventures And Other Activity (Rollforward Of Redeemable Equity Securities) (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | |
Acquisitions, Joint Ventures And Other Activity [Abstract] | ' | ' | |
Balances at the beginning of the period | $212,458 | [1] | $200,643 |
Investments by noncontrolling shareholders | ' | 1,786 | |
Purchases of subsidiary shares from adn distributions to noncontrolling shareholders | -250 | -4,256 | |
Balances at the end of the period | $212,208 | [1] | $198,173 |
[1] | Restated |
Discontinued_Operations_And_As2
Discontinued Operations And Assets Held For Sale (Narrative) (Details) | Mar. 31, 2013 |
item | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Number of licensed beds | 10,585 |
Woman's Center [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Number of licensed beds | 172 |
St. Mary's Medical Center [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Number of licensed beds | 25 |
Riverside Hospital [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Number of licensed beds | 293 |
Discontinued_Operations_And_As3
Discontinued Operations And Assets Held For Sale (Schedule Of Discontinued Operations) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Discontinued Operations And Assets Held For Sale [Abstract] | ' | ' | ||
Net revenue before the provision for doubtful accounts | ' | $4,334 | ||
Provision for doubtful accounts | ' | -549 | ||
Net revenue | ' | 3,785 | ||
Salaries and benefits | ' | 2,174 | ||
Depreciation and amortization | ' | 1,373 | ||
Other operating expenses | ' | 2,516 | ||
Total operating expenses and other | ' | 6,063 | ||
Loss before income taxes | ' | -2,278 | ||
Income tax benefit | ' | 883 | ||
Income (loss) from discontinued operations | ' | [1] | ($1,395) | [1] |
[1] | Restated |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 |
Income Taxes [Abstract] | ' | ' |
Effective income tax rates | 30.50% | 34.00% |
Reduced effective income tax rate impact from noncontrolling interests | 3.90% | 3.70% |
Net federal and state income tax payments | $3.40 | $2.80 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Narrative) (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' |
Future amortization of accumulated other loss attributable to interest rate swap agreement | $60 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended | |||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' | ||
Beginning balance, Unrealized Gains (Losses) on Available-for-Sale Securities | $6,017 | $831 | ' | ' | ||
Beginning balance, Interest Rate Swap Contract | -47,957 | -96,271 | ' | ' | ||
Beginning Balance, Total Accumulated Other Comprehensive Income (Loss) | -41,940 | [1] | -95,440 | ' | ' | |
Unrealized gains (losses) on available-for-sale securities, net of income taxes | 2,676 | 3,327 | ' | ' | ||
Unrealized gains (losses) on available-for-sale securities, net of income taxes | ' | ' | ' | ' | ||
Adjustments for net (gains) losses reclassified into net income, net of income taxes | -928 | 172 | ' | ' | ||
Change in fair value of interest rate swap contract, net of income taxes | ' | ' | ' | ' | ||
Reclassification adjustments for amortization of expense into net income, net of income taxes | 11,231 | 12,513 | ' | ' | ||
Ending balance, Unrealized Gains (Losses) on Available-for-Sale Securities | 7,765 | 4,330 | ' | ' | ||
Ending balance, Interest Rate Swap Contract | -36,726 | -83,758 | ' | ' | ||
Ending Balance, Total Accumulated Other Comprehensive Income (Loss) | -28,961 | [1] | -79,428 | ' | ' | |
Accumulated other comprehensive income (loss), tax | 19,122 | 50,811 | 27,192 | 60,635 | ||
Unrealized gain (losses) on available-for-sale securities, tax | 1,444 | 1,792 | ' | ' | ||
Adjustments for net (gains) losses reclassified into net income, tax | -499 | 92 | ' | ' | ||
Reclassification adjustments for amortization of expense into net income, tax | $7,125 | $7,940 | ' | ' | ||
[1] | Restated |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Income (Loss) (Schedule Of Supplemental Information About Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ||
Other | $1,891 | [1] | ($1,640) | [1] |
Interest expense | 71,491 | [1] | 88,865 | [1] |
Provision for income taxes | -12,415 | [1] | -23,804 | [1] |
Consolidated net income | 28,353 | [1] | 44,715 | [1] |
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | Available-For-Sale Securities [Member] | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ||
Other | -1,427 | 264 | ||
Provision for income taxes | 499 | -92 | ||
Consolidated net income | -928 | 172 | ||
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Swap Contract [Member] | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ||
Interest expense | 18,356 | 20,453 | ||
Provision for income taxes | -7,125 | -7,940 | ||
Consolidated net income | $11,231 | $12,513 | ||
[1] | Restated |
Commitments_And_Contingencies_
Commitments And Contingencies (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2013 | Dec. 31, 2012 |
Loss Contingencies [Line Items] | ' | ' |
Non-cancelable guarantees | $198.90 | ' |
Recorded liabilities | 72.9 | 89.7 |
Plaintiffs claim for damages | $40 | ' |
Minimum [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Contractual measurement period, years | 'one | ' |
Maximum [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Contractual measurement period, years | 'two | ' |
Subsequent_Event_Details
Subsequent Event (Details) (USD $) | 3 Months Ended | 0 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Apr. 01, 2013 | Apr. 01, 2013 | ||
item | Bayfront Health System [Member] | Bayfront Health, Education And Research Organization [Member] | ||||
Subsequent Event [Member] | Bayfront Health System [Member] | |||||
item | Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ||
Acquired interest | ' | ' | 80.00% | ' | ||
Number of licensed beds | 10,585 | ' | 480 | ' | ||
Ownership interest percentage | ' | ' | ' | 20.00% | ||
Payments to Acquire Businesses, Net of Cash Acquired | $1,525 | [1] | $81,617 | [1] | $162,000 | ' |
[1] | Restated |
Supplemental_Condensed_Consoli2
Supplemental Condensed Consolidating Financial Statements (Narrative) (Details) | Mar. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2012 |
6.125% Senior Notes Due 2016, Net Of Discounts [Member] | 7.375% Senior Notes Due 2020 [Member] | Guarantor Subsidiaries [Member] | |
Ownership interest percentage by parent | ' | ' | 100.00% |
Debt instrument, interest rate | 6.13% | 7.38% | ' |
Debt maturity date | '2016 | '2020 | ' |
Supplemental_Condensed_Consoli3
Supplemental Condensed Consolidating Financial Statements (Schedule Of Condensed Consolidating Statement Of Income) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Net revenue before the provision for doubtful accounts | $1,724,028 | [1] | $1,685,268 | [1] |
Provision for doubtful accounts | -236,199 | [1] | -201,261 | [1] |
Net revenue | 1,487,829 | [1] | 1,484,007 | [1] |
Salaries and benefits | 685,678 | [1] | 658,237 | [1] |
Supplies | 235,768 | [1] | 234,443 | [1] |
Rent expense | 42,081 | [1] | 44,950 | [1] |
Other operating expenses | 324,090 | [1] | 312,201 | [1] |
Medicare and Medicaid HCIT incentive payments | -3,982 | [1] | -4,590 | [1] |
Depreciation and amortization | 93,826 | [1] | 78,347 | [1] |
Interest expense | 71,491 | [1] | 88,865 | [1] |
Other | -1,891 | [1] | 1,640 | [1] |
Total expenses and other, net | 1,447,061 | [1] | 1,414,093 | [1] |
Income from continuing operations before income taxes | 40,768 | [1] | 69,914 | [1] |
Income tax (expense) benefit | -12,415 | [1] | -23,804 | [1] |
Income from continuing operations | 28,353 | [1] | 46,110 | [1] |
Income (loss) from discontinued operations, including gains/losses on disposals, net of income taxes | ' | [1] | -1,395 | [1] |
Consolidated net income | 28,353 | [1] | 44,715 | [1] |
Net income attributable to noncontrolling interests | -4,665 | [1] | -6,906 | [1] |
Net income attributable to Health Management Associates, Inc. | 23,688 | [1] | 37,809 | [1] |
Parent Issuer [Member] | ' | ' | ||
Equity in the earnings of consolidated subsidiaries | -72,591 | -92,423 | ||
Depreciation and amortization | 6,611 | 2,695 | ||
Interest expense | 67,239 | 85,281 | ||
Other | 683 | -202 | ||
Total expenses and other, net | 1,942 | -4,649 | ||
Income from continuing operations before income taxes | -1,942 | 4,649 | ||
Income tax (expense) benefit | 25,630 | 33,160 | ||
Income from continuing operations | 23,688 | 37,809 | ||
Consolidated net income | 23,688 | 37,809 | ||
Net income attributable to Health Management Associates, Inc. | 23,688 | 37,809 | ||
Guarantor Subsidiaries [Member] | ' | ' | ||
Net revenue before the provision for doubtful accounts | 1,059,479 | 1,037,631 | ||
Provision for doubtful accounts | -144,557 | -124,545 | ||
Net revenue | 914,922 | 913,086 | ||
Salaries and benefits | 337,499 | 343,552 | ||
Supplies | 162,788 | 161,453 | ||
Rent expense | 21,267 | 23,855 | ||
Other operating expenses | 182,697 | 183,206 | ||
Medicare and Medicaid HCIT incentive payments | -3,035 | -2,430 | ||
Depreciation and amortization | 54,971 | 47,072 | ||
Interest expense | 2,713 | 2,087 | ||
Other | -101 | -38 | ||
Total expenses and other, net | 758,799 | 758,757 | ||
Income from continuing operations before income taxes | 156,123 | 154,329 | ||
Income tax (expense) benefit | -53,687 | -58,268 | ||
Income from continuing operations | 102,436 | 96,061 | ||
Consolidated net income | 102,436 | 96,061 | ||
Net income attributable to noncontrolling interests | ' | -95 | ||
Net income attributable to Health Management Associates, Inc. | 102,436 | 95,966 | ||
Non-Guarantor Subsidiaries [Member] | ' | ' | ||
Net revenue before the provision for doubtful accounts | 664,549 | 647,637 | ||
Provision for doubtful accounts | -91,642 | -76,716 | ||
Net revenue | 572,907 | 570,921 | ||
Salaries and benefits | 348,179 | 314,685 | ||
Supplies | 72,980 | 72,990 | ||
Rent expense | 20,814 | 21,095 | ||
Other operating expenses | 141,393 | 128,995 | ||
Medicare and Medicaid HCIT incentive payments | -947 | -2,160 | ||
Depreciation and amortization | 32,244 | 28,580 | ||
Interest expense | 1,539 | 1,497 | ||
Other | -2,473 | 1,880 | ||
Total expenses and other, net | 613,729 | 567,562 | ||
Income from continuing operations before income taxes | -40,822 | 3,359 | ||
Income tax (expense) benefit | 15,642 | 1,304 | ||
Income from continuing operations | -25,180 | 4,663 | ||
Income (loss) from discontinued operations, including gains/losses on disposals, net of income taxes | ' | -1,395 | ||
Consolidated net income | -25,180 | 3,268 | ||
Net income attributable to noncontrolling interests | -4,665 | -6,811 | ||
Net income attributable to Health Management Associates, Inc. | -29,845 | -3,543 | ||
Eliminations [Member] | ' | ' | ||
Equity in the earnings of consolidated subsidiaries | 72,591 | 92,423 | ||
Total expenses and other, net | 72,591 | 92,423 | ||
Income from continuing operations before income taxes | -72,591 | -92,423 | ||
Income from continuing operations | -72,591 | -92,423 | ||
Consolidated net income | -72,591 | -92,423 | ||
Net income attributable to Health Management Associates, Inc. | ($72,591) | ($92,423) | ||
[1] | Restated |
Supplemental_Condensed_Consoli4
Supplemental Condensed Consolidating Financial Statements (Schedule Of Condensed Consolidating Statement Of Comprehensive Income) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Consolidated net income | $28,353 | [1] | $44,715 | [1] |
Available-for-sale securities: | ' | ' | ||
Unrealized gains (losses), net | 4,120 | [1] | 5,119 | [1] |
Adjustments for net (gains) losses reclassified into net income | -1,427 | [1] | 264 | [1] |
Reclassification adjustments for amortization of expense into net income | 18,356 | [1] | 20,453 | [1] |
Other comprehensive income before income taxes | 21,049 | [1] | 25,836 | [1] |
Income tax expense related to items of other comprehensive income | -8,070 | [1] | -9,824 | [1] |
Other comprehensive income, net | 12,979 | [1] | 16,012 | [1] |
Total consolidated comprehensive income (loss) | 41,332 | [1] | 60,727 | [1] |
Total comprehensive income attributable to noncontrolling interests | -4,665 | [1] | -6,906 | [1] |
Total comprehensive income attributable to Health Management Associates, Inc. common stockholders | 36,667 | [1] | 53,821 | [1] |
Parent Issuer [Member] | ' | ' | ||
Consolidated net income | 23,688 | 37,809 | ||
Available-for-sale securities: | ' | ' | ||
Reclassification adjustments for amortization of expense into net income | 18,356 | 20,453 | ||
Other comprehensive income before income taxes | 18,356 | 20,453 | ||
Income tax expense related to items of other comprehensive income | -7,125 | -7,940 | ||
Other comprehensive income, net | 11,231 | 12,513 | ||
Total consolidated comprehensive income (loss) | 34,919 | 50,322 | ||
Total comprehensive income attributable to Health Management Associates, Inc. common stockholders | 34,919 | 50,322 | ||
Guarantor Subsidiaries [Member] | ' | ' | ||
Consolidated net income | 102,436 | 96,061 | ||
Available-for-sale securities: | ' | ' | ||
Total consolidated comprehensive income (loss) | 102,436 | 96,061 | ||
Total comprehensive income attributable to noncontrolling interests | ' | -95 | ||
Total comprehensive income attributable to Health Management Associates, Inc. common stockholders | 102,436 | 95,966 | ||
Non-Guarantor Subsidiaries [Member] | ' | ' | ||
Consolidated net income | -25,180 | 3,268 | ||
Available-for-sale securities: | ' | ' | ||
Unrealized gains (losses), net | 4,120 | 5,119 | ||
Adjustments for net (gains) losses reclassified into net income | -1,427 | 264 | ||
Other comprehensive income before income taxes | 2,693 | 5,383 | ||
Income tax expense related to items of other comprehensive income | -945 | -1,884 | ||
Other comprehensive income, net | 1,748 | 3,499 | ||
Total consolidated comprehensive income (loss) | -23,432 | 6,767 | ||
Total comprehensive income attributable to noncontrolling interests | -4,665 | -6,811 | ||
Total comprehensive income attributable to Health Management Associates, Inc. common stockholders | -28,097 | -44 | ||
Eliminations [Member] | ' | ' | ||
Consolidated net income | -72,591 | -92,423 | ||
Available-for-sale securities: | ' | ' | ||
Total consolidated comprehensive income (loss) | -72,591 | -92,423 | ||
Total comprehensive income attributable to Health Management Associates, Inc. common stockholders | ($72,591) | ($92,423) | ||
[1] | Restated |
Supplemental_Condensed_Consoli5
Supplemental Condensed Consolidating Financial Statements (Schedule Of Condensed Consolidating Balance Sheet) (Details) (USD $) | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | ||||
In Thousands, unless otherwise specified | ||||||||
ASSETS | ' | ' | ' | ' | ||||
Cash and cash equivalents | $37,358 | [1] | $59,173 | [1] | $8,396 | [1] | $64,143 | [1] |
Available-for-sale securities | 52,207 | [1] | 121,106 | [1] | ' | ' | ||
Accounts receivable, net | 991,027 | [1] | 957,918 | [1] | ' | ' | ||
Supplies, prepaid expenses and other assets | 221,505 | [1] | 220,884 | [1] | ' | ' | ||
Prepaid and recoverable income taxes | 64,498 | [1] | 60,438 | [1] | ' | ' | ||
Restricted funds | 25,109 | [1] | 26,525 | [1] | ' | ' | ||
Assets held for sale | 6,250 | [1] | 6,250 | [1] | ' | ' | ||
Total current assets | 1,397,954 | [1] | 1,452,294 | [1] | ' | ' | ||
Property, plant and equipment, net | 3,457,018 | [1] | 3,465,890 | [1] | ' | ' | ||
Restricted funds | 126,581 | [1] | 125,532 | [1] | ' | ' | ||
Goodwill | 1,025,823 | [1] | 1,025,137 | [1] | ' | ' | ||
Deferred charges and other assets | 302,223 | [1] | 317,501 | [1] | ' | ' | ||
Total assets | 6,309,599 | [1] | 6,386,354 | [1] | ' | ' | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||||
Accounts payable | 169,713 | [1] | 211,387 | [1] | ' | ' | ||
Accrued expenses and other liabilities | 556,774 | [1] | 609,732 | [1] | ' | ' | ||
Deferred income taxes | 27,086 | [1] | 29,026 | [1] | ' | ' | ||
Current maturities of long-term debt and capital lease obligations | 99,093 | [1] | 126,262 | [1] | ' | ' | ||
Total current liabilities | 852,666 | [1] | 976,407 | [1] | ' | ' | ||
Deferred income taxes | 324,157 | [1] | 301,237 | [1] | ' | ' | ||
Long-term debt and capital lease obligations, less current maturities | 3,418,195 | [1] | 3,440,353 | [1] | ' | ' | ||
Other long-term liabilities | 467,858 | [1] | 460,886 | [1] | ' | ' | ||
Total liabilities | 5,062,876 | [1] | 5,178,883 | [1] | ' | ' | ||
Redeemable equity securities | 212,208 | [1] | 212,458 | [1] | 198,173 | 200,643 | ||
Stockholders' equity: | ' | ' | ' | ' | ||||
Total Health Management Associates, Inc. stockholders' equity | 1,027,229 | [1] | 978,405 | [1] | ' | ' | ||
Noncontrolling interests | 7,286 | [1] | 16,608 | [1] | ' | ' | ||
Total stockholders' equity | 1,034,515 | [1] | 995,013 | [1] | 822,520 | [1] | 773,927 | [1] |
Total liabilities and stockholders' equity | 6,309,599 | [1] | 6,386,354 | [1] | ' | ' | ||
Parent Issuer [Member] | ' | ' | ' | ' | ||||
ASSETS | ' | ' | ' | ' | ||||
Cash and cash equivalents | 19,932 | 23,214 | -15,077 | 28,611 | ||||
Available-for-sale securities | ' | 65,376 | ' | ' | ||||
Supplies, prepaid expenses and other assets | 5,311 | 4,459 | ' | ' | ||||
Prepaid and recoverable income taxes | 64,498 | 60,438 | ' | ' | ||||
Total current assets | 89,741 | 153,487 | ' | ' | ||||
Property, plant and equipment, net | 120,506 | 118,699 | ' | ' | ||||
Investments in consolidated subsidiaries | 3,789,842 | 3,768,249 | ' | ' | ||||
Intercompany receivables | 834,139 | 827,770 | ' | ' | ||||
Deferred charges and other assets | 80,788 | 80,118 | ' | ' | ||||
Total assets | 4,915,016 | 4,948,323 | ' | ' | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||||
Accounts payable | 16,639 | 42,093 | ' | ' | ||||
Accrued expenses and other liabilities | 101,266 | 120,598 | ' | ' | ||||
Deferred income taxes | 27,086 | 29,026 | ' | ' | ||||
Current maturities of long-term debt and capital lease obligations | 72,907 | 100,542 | ' | ' | ||||
Total current liabilities | 217,898 | 292,259 | ' | ' | ||||
Deferred income taxes | 324,157 | 301,237 | ' | ' | ||||
Long-term debt and capital lease obligations, less current maturities | 3,284,518 | 3,304,667 | ' | ' | ||||
Other long-term liabilities | 61,214 | 71,755 | ' | ' | ||||
Total liabilities | 3,887,787 | 3,969,918 | ' | ' | ||||
Stockholders' equity: | ' | ' | ' | ' | ||||
Total Health Management Associates, Inc. stockholders' equity | 1,027,229 | 978,405 | ' | ' | ||||
Total stockholders' equity | 1,027,229 | 978,405 | ' | ' | ||||
Total liabilities and stockholders' equity | 4,915,016 | 4,948,323 | ' | ' | ||||
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ||||
ASSETS | ' | ' | ' | ' | ||||
Cash and cash equivalents | 9,275 | 24,823 | 29,654 | 44,541 | ||||
Accounts receivable, net | 617,658 | 587,754 | ' | ' | ||||
Supplies, prepaid expenses and other assets | 136,294 | 136,078 | ' | ' | ||||
Total current assets | 763,227 | 748,655 | ' | ' | ||||
Property, plant and equipment, net | 2,308,208 | 2,322,678 | ' | ' | ||||
Intercompany receivables | 118,702 | 24,838 | ' | ' | ||||
Goodwill | 654,500 | 654,500 | ' | ' | ||||
Deferred charges and other assets | 111,389 | 125,144 | ' | ' | ||||
Total assets | 3,956,026 | 3,875,815 | ' | ' | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||||
Accounts payable | 101,412 | 112,643 | ' | ' | ||||
Accrued expenses and other liabilities | 229,992 | 239,281 | ' | ' | ||||
Current maturities of long-term debt and capital lease obligations | 20,902 | 20,091 | ' | ' | ||||
Total current liabilities | 352,306 | 372,015 | ' | ' | ||||
Long-term debt and capital lease obligations, less current maturities | 83,470 | 82,871 | ' | ' | ||||
Other long-term liabilities | 95,292 | 96,250 | ' | ' | ||||
Total liabilities | 531,068 | 551,136 | ' | ' | ||||
Stockholders' equity: | ' | ' | ' | ' | ||||
Total Health Management Associates, Inc. stockholders' equity | 3,424,958 | 3,324,679 | ' | ' | ||||
Total stockholders' equity | 3,424,958 | 3,324,679 | ' | ' | ||||
Total liabilities and stockholders' equity | 3,956,026 | 3,875,815 | ' | ' | ||||
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ||||
ASSETS | ' | ' | ' | ' | ||||
Cash and cash equivalents | 8,151 | 11,136 | -6,181 | -9,009 | ||||
Available-for-sale securities | 52,207 | 55,730 | ' | ' | ||||
Accounts receivable, net | 373,369 | 370,164 | ' | ' | ||||
Supplies, prepaid expenses and other assets | 79,900 | 80,347 | ' | ' | ||||
Restricted funds | 25,109 | 26,525 | ' | ' | ||||
Assets held for sale | 6,250 | 6,250 | ' | ' | ||||
Total current assets | 544,986 | 550,152 | ' | ' | ||||
Property, plant and equipment, net | 1,028,304 | 1,024,513 | ' | ' | ||||
Restricted funds | 126,581 | 125,532 | ' | ' | ||||
Goodwill | 371,323 | 370,637 | ' | ' | ||||
Deferred charges and other assets | 110,046 | 112,239 | ' | ' | ||||
Total assets | 2,181,240 | 2,183,073 | ' | ' | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||||
Accounts payable | 51,662 | 56,651 | ' | ' | ||||
Accrued expenses and other liabilities | 225,516 | 249,853 | ' | ' | ||||
Current maturities of long-term debt and capital lease obligations | 5,284 | 5,629 | ' | ' | ||||
Total current liabilities | 282,462 | 312,133 | ' | ' | ||||
Long-term debt and capital lease obligations, less current maturities | 50,207 | 52,815 | ' | ' | ||||
Intercompany payables | 952,841 | 852,608 | ' | ' | ||||
Other long-term liabilities | 311,352 | 292,881 | ' | ' | ||||
Total liabilities | 1,596,862 | 1,510,437 | ' | ' | ||||
Redeemable equity securities | 212,208 | 212,458 | ' | ' | ||||
Stockholders' equity: | ' | ' | ' | ' | ||||
Total Health Management Associates, Inc. stockholders' equity | 364,884 | 443,570 | ' | ' | ||||
Noncontrolling interests | 7,286 | 16,608 | ' | ' | ||||
Total stockholders' equity | 372,170 | 460,178 | ' | ' | ||||
Total liabilities and stockholders' equity | 2,181,240 | 2,183,073 | ' | ' | ||||
Eliminations [Member] | ' | ' | ' | ' | ||||
ASSETS | ' | ' | ' | ' | ||||
Investments in consolidated subsidiaries | -3,789,842 | -3,768,249 | ' | ' | ||||
Intercompany receivables | -952,841 | -852,608 | ' | ' | ||||
Total assets | -4,742,683 | -4,620,857 | ' | ' | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||||
Intercompany payables | -952,841 | -852,608 | ' | ' | ||||
Total liabilities | -952,841 | -852,608 | ' | ' | ||||
Stockholders' equity: | ' | ' | ' | ' | ||||
Total Health Management Associates, Inc. stockholders' equity | -3,789,842 | -3,768,249 | ' | ' | ||||
Total stockholders' equity | -3,789,842 | -3,768,249 | ' | ' | ||||
Total liabilities and stockholders' equity | ($4,742,683) | ($4,620,857) | ' | ' | ||||
[1] | Restated |
Supplemental_Condensed_Consoli6
Supplemental Condensed Consolidating Financial Statements (Schedule Of Condensed Consolidating Statement Of Cash Flows) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | ||
Net cash provided by (used in) continuing operating activities | $19,241 | [1] | $62,060 | [1] |
Cash flows from investing activities: | ' | ' | ||
Additions to property, plant and equipment | -61,040 | [1] | -80,790 | [1] |
Acquisitions of hospitals and other ancillary health care businesses | -1,525 | [1] | -81,617 | [1] |
Proceeds from sales of assets and insurance recoveries | 572 | [1] | 808 | [1] |
Purchases of available-for-sale securities | -416,776 | [1] | -439,701 | [1] |
Proceeds from sales of available-for-sale securities | 487,627 | [1] | 521,186 | [1] |
Decrease in restricted funds, net | 3,253 | [1] | 782 | [1] |
Net cash provided by (used in) continuing investing activities | 12,111 | [1] | -79,332 | [1] |
Cash flows from financing activities: | ' | ' | ||
Proceeds from long-term debt borrowings | 71,400 | [1] | ' | |
Principal payments on debt and capital lease obligations | -126,328 | [1] | -20,799 | [1] |
Payments for debt issuance costs | -1,588 | [1] | ' | |
Proceeds from exercises of stock options | 13,197 | [1] | ' | |
Cash received from noncontrolling shareholders | ' | 1,786 | [1] | |
Cash payments to noncontrolling shareholders | -14,236 | [1] | -17,886 | [1] |
Equity compensation excess income tax benefits | 4,388 | [1] | 1,400 | [1] |
Net cash used in continuing financing activities | -53,167 | [1] | -35,499 | [1] |
Net increase (decrease) in cash and cash equivalents before discontinued operations | -21,815 | [1] | -52,771 | [1] |
Net cash used in discontinued operations | ' | -2,976 | ||
Net decrease in cash and cash equivalents | -21,815 | [1] | -55,747 | [1] |
Cash and cash equivalents at the beginning of the period | 59,173 | [1] | 64,143 | [1] |
Cash and cash equivalents at the end of the period | 37,358 | [1] | 8,396 | [1] |
Parent Issuer [Member] | ' | ' | ||
Net cash provided by (used in) continuing operating activities | -74,921 | -9,025 | ||
Cash flows from investing activities: | ' | ' | ||
Additions to property, plant and equipment | -9,360 | -13,169 | ||
Purchases of available-for-sale securities | -405,916 | -431,273 | ||
Proceeds from sales of available-for-sale securities | 472,063 | 512,969 | ||
Net cash provided by (used in) continuing investing activities | 56,787 | 68,527 | ||
Cash flows from financing activities: | ' | ' | ||
Proceeds from long-term debt borrowings | 71,400 | ' | ||
Principal payments on debt and capital lease obligations | -120,182 | -17,236 | ||
Payments for debt issuance costs | -1,588 | ' | ||
Proceeds from exercises of stock options | 13,197 | ' | ||
Changes in intercompany balances, net | 47,637 | -87,354 | ||
Equity compensation excess income tax benefits | 4,388 | 1,400 | ||
Net cash used in continuing financing activities | 14,852 | -103,190 | ||
Net increase (decrease) in cash and cash equivalents before discontinued operations | ' | -43,688 | ||
Net decrease in cash and cash equivalents | -3,282 | -43,688 | ||
Cash and cash equivalents at the beginning of the period | 23,214 | 28,611 | ||
Cash and cash equivalents at the end of the period | 19,932 | -15,077 | ||
Guarantor Subsidiaries [Member] | ' | ' | ||
Net cash provided by (used in) continuing operating activities | 105,608 | 87,285 | ||
Cash flows from investing activities: | ' | ' | ||
Additions to property, plant and equipment | -32,910 | -52,593 | ||
Acquisitions of hospitals and other ancillary health care businesses | ' | -800 | ||
Proceeds from sales of assets and insurance recoveries | 321 | ' | ||
Net cash provided by (used in) continuing investing activities | -32,589 | -53,393 | ||
Cash flows from financing activities: | ' | ' | ||
Principal payments on debt and capital lease obligations | -4,971 | -2,498 | ||
Cash payments to noncontrolling shareholders | ' | -1,127 | ||
Changes in intercompany balances, net | -83,596 | -45,154 | ||
Net cash used in continuing financing activities | -88,567 | -48,779 | ||
Net increase (decrease) in cash and cash equivalents before discontinued operations | ' | -14,887 | ||
Net decrease in cash and cash equivalents | -15,548 | -14,887 | ||
Cash and cash equivalents at the beginning of the period | 24,823 | 44,541 | ||
Cash and cash equivalents at the end of the period | 9,275 | 29,654 | ||
Non-Guarantor Subsidiaries [Member] | ' | ' | ||
Net cash provided by (used in) continuing operating activities | -11,446 | -16,200 | ||
Cash flows from investing activities: | ' | ' | ||
Additions to property, plant and equipment | -18,770 | -15,028 | ||
Acquisitions of hospitals and other ancillary health care businesses | -1,525 | -80,817 | ||
Proceeds from sales of assets and insurance recoveries | 251 | 808 | ||
Purchases of available-for-sale securities | -10,860 | -8,428 | ||
Proceeds from sales of available-for-sale securities | 15,564 | 8,217 | ||
Decrease in restricted funds, net | 3,253 | 782 | ||
Net cash provided by (used in) continuing investing activities | -12,087 | -94,466 | ||
Cash flows from financing activities: | ' | ' | ||
Principal payments on debt and capital lease obligations | -1,175 | -1,065 | ||
Cash received from noncontrolling shareholders | ' | 1,786 | ||
Cash payments to noncontrolling shareholders | -14,236 | -16,759 | ||
Changes in intercompany balances, net | 35,959 | 132,508 | ||
Net cash used in continuing financing activities | 20,548 | 116,470 | ||
Net increase (decrease) in cash and cash equivalents before discontinued operations | ' | 5,804 | ||
Net cash used in discontinued operations | ' | -2,976 | ||
Net decrease in cash and cash equivalents | -2,985 | 2,828 | ||
Cash and cash equivalents at the beginning of the period | 11,136 | -9,009 | ||
Cash and cash equivalents at the end of the period | $8,151 | ($6,181) | ||
[1] | Restated |