EX-99.1 3 g19217exv99w1.htm EX-99.1 EX-99.1
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)
 
                                         
    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
  $ 1,797     $ 1,396     $ 1,845     $ 2,971     $ 2,954  
Cash used in investing activities
    (1,467 )     (479 )     (1,307 )     (1,681 )     (1,688 )
Cash used in financing activities
    (258 )     (1,158 )     (240 )     (1,212 )     (1,347 )


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    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.


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