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Other Noncurrent liabilities and Redeemable/Noncontrolling Interests
3 Months Ended
Mar. 31, 2016
Noncontrolling Interest [Abstract]  
Other Noncurrent liabilities and Redeemable/Noncontrolling Interests

(3) Other Noncurrent liabilities and Redeemable/Noncontrolling Interests

Other noncurrent liabilities include the long-term portion of our professional and general liability, workers’ compensation reserves, pension and deferred compensation liabilities, and liabilities incurred in connection with split-dollar life insurance agreements on the lives of our chief executive officer and his wife.

As of March 31, 2016, outside owners held noncontrolling, minority ownership interests of: (i) approximately 28% in our six acute care facilities located in Las Vegas, Nevada (including one facility currently under construction); (ii) 20% in an acute care facility located in Washington, D.C.; (iii) approximately 11% in an acute care facility located in Laredo, Texas, and; (iv) 20% in a behavioral health care facility located in Philadelphia, Pennsylvania. The redeemable noncontrolling interest balances of $261 million as of March 31, 2016 and $243 million as of December 31, 2015, and the noncontrolling interest balances of $62 million as of March 31, 2016 and $60 million as of December 31, 2015, consist primarily of the third-party ownership interests in these hospitals.

 

In connection with six acute care facilities located in the Las Vegas, Nevada market (including one facility currently under construction), subsequent to March 31, 2016, we agreed to purchase the minority ownership interests held by a third-party for an aggregate cash payment of $445 million which includes both the purchase price and return of capital. The minority ownership interests related to these hospitals are reflected as redeemable noncontrolling interests on our Condensed Consolidated Balance Sheet.  

 

In connection with a behavioral health care facility located in Philadelphia, Pennsylvania, the minority ownership interest of which is also reflected as redeemable noncontrolling interests on our Consolidated Balance Sheet, the outside owner has a “put option” to put its entire ownership interest to us at any time. If exercised, the put option requires us to purchase the minority member’s interest at fair market value.