EXHIBIT 99.1
Item 6. | Selected Financial Data |
HCA INC.
SELECTED FINANCIAL DATA
AS OF AND FOR THE YEARS ENDED DECEMBER 31
(Dollars in millions)
SELECTED FINANCIAL DATA
AS OF AND FOR THE YEARS ENDED DECEMBER 31
(Dollars in millions)
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Summary of Operations: | ||||||||||||||||||||
Revenues | $ | 28,374 | $ | 26,858 | $ | 25,477 | $ | 24,455 | $ | 23,502 | ||||||||||
Salaries and benefits | 11,440 | 10,714 | 10,409 | 9,928 | 9,419 | |||||||||||||||
Supplies | 4,620 | 4,395 | 4,322 | 4,126 | 3,901 | |||||||||||||||
Other operating expenses | 4,554 | 4,241 | 4,056 | 4,034 | 3,769 | |||||||||||||||
Provision for doubtful accounts | 3,409 | 3,130 | 2,660 | 2,358 | 2,669 | |||||||||||||||
Equity in earnings of affiliates | (223 | ) | (206 | ) | (197 | ) | (221 | ) | (194 | ) | ||||||||||
Gains on sales of investments | — | (8 | ) | (243 | ) | (53 | ) | (56 | ) | |||||||||||
Depreciation and amortization | 1,416 | 1,426 | 1,391 | 1,374 | 1,250 | |||||||||||||||
Interest expense | 2,021 | 2,215 | 955 | 655 | 563 | |||||||||||||||
Gains on sales of facilities | (97 | ) | (471 | ) | (205 | ) | (78 | ) | — | |||||||||||
Impairment of long-lived assets | 64 | 24 | 24 | — | 12 | |||||||||||||||
Transaction costs | — | — | 442 | — | — | |||||||||||||||
27,204 | 25,460 | 23,614 | 22,123 | 21,333 | ||||||||||||||||
Income before income taxes | 1,170 | 1,398 | 1,863 | 2,332 | 2,169 | |||||||||||||||
Provision for income taxes | 268 | 316 | 626 | 730 | 755 | |||||||||||||||
Net income | 902 | 1,082 | 1,237 | 1,602 | 1,414 | |||||||||||||||
Net income attributable to noncontrolling interests | 229 | 208 | 201 | 178 | 168 | |||||||||||||||
Net income attributable to HCA Inc. | $ | 673 | $ | 874 | $ | 1,036 | $ | 1,424 | $ | 1,246 | ||||||||||
Financial Position: | ||||||||||||||||||||
Assets | $ | 24,280 | $ | 24,025 | $ | 23,675 | $ | 22,225 | $ | 21,840 | ||||||||||
Working capital | 2,391 | 2,356 | 2,502 | 1,320 | 1,509 | |||||||||||||||
Long-term debt, including amounts due within one year | 26,989 | 27,308 | 28,408 | 10,475 | 10,530 | |||||||||||||||
Equity securities with contingent redemption rights | 155 | 164 | 125 | — | — | |||||||||||||||
Noncontrolling interests | 995 | 938 | 907 | 828 | 809 | |||||||||||||||
Stockholders’ (deficit) equity | (9,260 | ) | (9,600 | ) | (10,467 | ) | 5,691 | 5,216 | ||||||||||||
Cash Flow Data: | ||||||||||||||||||||
Cash provided by operating activities | $ | 1,990 | $ | 1,564 | $ | 1,988 | $ | 3,162 | $ | 3,013 | ||||||||||
Cash used in investing activities | (1,467 | ) | (479 | ) | (1,307 | ) | (1,681 | ) | (1,688 | ) | ||||||||||
Cash used in financing activities | (451 | ) | (1,326 | ) | (383 | ) | (1,403 | ) | (1,406 | ) |
3
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Operating Data: | ||||||||||||||||||||
Number of hospitals at end of period(a) | 158 | 161 | 166 | 175 | 182 | |||||||||||||||
Number of freestanding outpatient surgical centers at end of period(b) | 97 | 99 | 98 | 87 | 84 | |||||||||||||||
Number of licensed beds at end of period(c) | 38,504 | 38,405 | 39,354 | 41,265 | 41,852 | |||||||||||||||
Weighted average licensed beds(d) | 38,422 | 39,065 | 40,653 | 41,902 | 41,997 | |||||||||||||||
Admissions(e) | 1,541,800 | 1,552,700 | 1,610,100 | 1,647,800 | 1,659,200 | |||||||||||||||
Equivalent admissions(f) | 2,363,600 | 2,352,400 | 2,416,700 | 2,476,600 | 2,454,000 | |||||||||||||||
Average length of stay (days)(g) | 4.9 | 4.9 | 4.9 | 4.9 | 5.0 | |||||||||||||||
Average daily census(h) | 20,795 | 21,049 | 21,688 | 22,225 | 22,493 | |||||||||||||||
Occupancy(i) | 54 | % | 54 | % | 53 | % | 53 | % | 54 | % | ||||||||||
Emergency room visits(j) | 5,246,400 | 5,116,100 | 5,213,500 | 5,415,200 | 5,219,500 | |||||||||||||||
Outpatient surgeries(k) | 797,400 | 804,900 | 820,900 | 836,600 | 834,800 | |||||||||||||||
Inpatient surgeries(l) | 493,100 | 516,500 | 533,100 | 541,400 | 541,000 | |||||||||||||||
Days revenues in accounts receivable(m) | 49 | 53 | 53 | 50 | 48 | |||||||||||||||
Gross patient revenues(n) | $ | 102,843 | $ | 92,429 | $ | 84,913 | $ | 78,662 | $ | 71,279 | ||||||||||
Outpatient revenues as a % of patient revenues(o) | 37 | % | 37 | % | 36 | % | 36 | % | 37 | % |
(a) | Excludes eight facilities in 2008 and 2007 and seven facilities in 2006, 2005 and 2004 that are not consolidated (accounted for using the equity method) for financial reporting purposes. |
(b) | Excludes eight facilities in 2008, nine facilities in 2007 and 2006, seven facilities in 2005 and eight facilities in 2004 that are not consolidated (accounted for using the equity method) for financial reporting purposes. | |
(c) | Licensed beds are those beds for which a facility has been granted approval to operate from the applicable state licensing agency. | |
(d) | Weighted average licensed beds represents the average number of licensed beds, weighted based on periods owned. | |
(e) | Represents the total number of patients admitted to our hospitals and is used by management and certain investors as a general measure of inpatient volume. | |
(f) | Equivalent admissions are used by management and certain investors as a general measure of combined inpatient and outpatient volume. Equivalent admissions are computed by multiplying admissions (inpatient volume) by the sum of gross inpatient revenue and gross outpatient revenue and then dividing the resulting amount by gross inpatient revenue. The equivalent admissions computation “equates” outpatient revenue to the volume measure (admissions) used to measure inpatient volume, resulting in a general measure of combined inpatient and outpatient volume. | |
(g) | Represents the average number of days admitted patients stay in our hospitals. | |
(h) | Represents the average number of patients in our hospital beds each day. | |
(i) | Represents the percentage of hospital licensed beds occupied by patients. Both average daily census and occupancy rate provide measures of the utilization of inpatient rooms. | |
(j) | Represents the number of patients treated in our emergency rooms. | |
(k) | Represents the number of surgeries performed on patients who were not admitted to our hospitals. Pain management and endoscopy procedures are not included in outpatient surgeries. | |
(l) | Represents the number of surgeries performed on patients who have been admitted to our hospitals. Pain management and endoscopy procedures are not included in inpatient surgeries. | |
(m) | Revenues per day is calculated by dividing the revenues for the period by the days in the period. Days revenues in accounts receivable is then calculated as accounts receivable, net of the allowance for doubtful accounts, at the end of the period divided by revenues per day. | |
(n) | Gross patient revenues are based upon our standard charge listing. Gross charges/revenues typically do not reflect what our hospital facilities are paid. Gross charges/revenues are reduced by contractual adjustments, discounts and charity care to determine reported revenues. | |
(o) | Represents the percentage of patient revenues related to patients who are not admitted to our hospitals. |
4