--12-31Q30000860730false0000860730us-gaap:SeniorNotesMember2023-05-310000860730us-gaap:AdditionalPaidInCapitalMember2023-09-300000860730hca:SeniorSecuredRevolvingCreditFacilityMember2023-09-300000860730srt:BoardOfDirectorsChairmanMember2023-09-300000860730us-gaap:NoncontrollingInterestMember2023-04-012023-06-300000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000860730hca:AtlanticGroupMember2022-07-012022-09-300000860730hca:NationalGroupMember2022-07-012022-09-300000860730us-gaap:DebtSecuritiesMember2023-09-300000860730srt:BoardOfDirectorsChairmanMember2023-01-310000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-3100008607302023-01-012023-09-3000008607302023-04-012023-06-3000008607302023-01-012023-03-3100008607302023-03-310000860730us-gaap:NoncontrollingInterestMember2021-12-310000860730us-gaap:CommonStockMember2023-03-310000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300000860730us-gaap:NoncontrollingInterestMember2022-01-012022-03-310000860730hca:ManagedMedicareMember2022-07-012022-09-300000860730us-gaap:RetainedEarningsMember2021-12-310000860730hca:ManagedMedicaidMember2023-07-012023-09-300000860730us-gaap:NoncontrollingInterestMember2023-06-300000860730hca:HealthcareEntityMember2023-01-012023-09-300000860730us-gaap:CommonStockMember2022-01-012022-03-310000860730hca:InternationalMember2023-07-012023-09-300000860730hca:ManagedMedicaidMember2022-01-012022-09-300000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000860730us-gaap:RetainedEarningsMember2022-04-012022-06-300000860730us-gaap:CorporateAndOtherMember2023-01-012023-09-300000860730hca:InternationalMember2023-01-012023-09-300000860730srt:BoardOfDirectorsChairmanMember2022-01-310000860730hca:ManagedCareAndOtherInsurersMember2022-07-012022-09-3000008607302022-04-012022-06-300000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000860730hca:HealthcareEntityMember2022-01-012022-09-3000008607302022-09-300000860730hca:SeniorSecuredTermLoanFacilitiesMember2022-12-310000860730us-gaap:CommonStockMember2022-12-310000860730us-gaap:NoncontrollingInterestMember2022-04-012022-06-300000860730hca:SeniorSecuredTermLoanFacilitiesMember2023-09-300000860730us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMember2022-12-3100008607302022-10-012022-12-310000860730us-gaap:FairValueInputsLevel2Member2023-09-3000008607302023-06-300000860730hca:MedicareMember2023-01-012023-09-300000860730us-gaap:AdditionalPaidInCapitalMember2021-12-310000860730us-gaap:RetainedEarningsMember2022-07-012022-09-300000860730us-gaap:RetainedEarningsMember2023-06-300000860730us-gaap:CorporateAndOtherMember2022-07-012022-09-300000860730hca:SeniorSecuredRevolvingCreditFacilityMember2022-12-310000860730us-gaap:AdditionalPaidInCapitalMember2022-09-300000860730us-gaap:RetainedEarningsMember2023-04-012023-06-300000860730us-gaap:CommonStockMember2022-06-300000860730us-gaap:NoncontrollingInterestMember2022-03-310000860730us-gaap:RetainedEarningsMember2022-09-300000860730us-gaap:ProductAndServiceOtherMember2022-01-012022-09-3000008607302023-07-012023-09-300000860730hca:ReorganizationGroupUnitsMemberhca:AtlanticGroupMember2023-09-300000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000860730us-gaap:CommonStockMember2021-12-310000860730hca:NationalGroupMember2022-01-012022-09-300000860730us-gaap:CommonStockMember2023-06-300000860730hca:ManagedCareAndOtherInsurersMember2023-01-012023-09-300000860730hca:ManagedMedicaidMember2022-07-012022-09-300000860730us-gaap:RetainedEarningsMember2023-09-300000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-3000008607302021-12-310000860730hca:MedicaidMember2022-07-012022-09-3000008607302022-12-3100008607302023-10-230000860730us-gaap:NoncontrollingInterestMember2022-10-012022-12-310000860730hca:InternationalMember2022-01-012022-09-300000860730us-gaap:AdditionalPaidInCapitalMember2022-10-012022-12-310000860730hca:HospitalFacilityMember2023-01-012023-09-300000860730hca:RealEstateAndOtherInvestmentsMember2022-01-012022-09-300000860730us-gaap:RetainedEarningsMember2023-01-012023-03-310000860730hca:AtlanticGroupMember2022-01-012022-09-300000860730us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-3000008607302022-06-300000860730hca:NationalGroupMemberhca:ReorganizationGroupUnitsMember2023-09-300000860730us-gaap:DiscontinuedOperationsDisposedOfBySaleMember2022-01-012022-09-300000860730hca:AmericanGroupMember2022-01-012022-09-300000860730hca:ManagedMedicaidMember2023-01-012023-09-300000860730srt:MaximumMember2017-11-012017-11-300000860730hca:AmericanGroupMember2023-01-012023-09-300000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000860730us-gaap:RetainedEarningsMember2023-03-310000860730us-gaap:NoncontrollingInterestMember2023-09-300000860730us-gaap:AdditionalPaidInCapitalMember2022-03-310000860730us-gaap:AdditionalPaidInCapitalMember2023-06-300000860730us-gaap:CommonStockMember2023-07-012023-09-300000860730hca:AtlanticGroupMember2023-01-012023-09-300000860730us-gaap:AdditionalPaidInCapitalMember2022-06-300000860730us-gaap:ProductAndServiceOtherMember2023-01-012023-09-300000860730hca:MedicareMember2023-07-012023-09-300000860730hca:ManagedMedicareMember2023-07-012023-09-300000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000860730us-gaap:NoncontrollingInterestMember2023-07-012023-09-300000860730hca:SeniorSecuredAssetBasedRevolvingCreditFacilityMember2023-09-300000860730us-gaap:CorporateAndOtherMemberhca:ReorganizationGroupUnitsMember2023-09-300000860730us-gaap:FairValueInputsLevel2Member2022-12-310000860730us-gaap:CommonStockMember2022-04-012022-06-300000860730us-gaap:CommonStockMember2022-03-310000860730hca:NationalGroupMember2023-01-012023-09-300000860730hca:OtherSeniorSecuredDebtMember2023-09-300000860730us-gaap:CommonStockMember2022-07-012022-09-300000860730hca:RealEstateAndOtherInvestmentsMember2023-01-012023-09-300000860730us-gaap:RetainedEarningsMember2022-03-3100008607302022-01-012022-09-300000860730us-gaap:ProductAndServiceOtherMember2022-07-012022-09-300000860730hca:OutpatientServicesMembersrt:MaximumMember2023-01-012023-09-300000860730us-gaap:NoncontrollingInterestMember2022-12-310000860730us-gaap:RetainedEarningsMember2022-12-310000860730us-gaap:RetainedEarningsMember2023-07-012023-09-300000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300000860730us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMember2023-09-300000860730hca:SeniorNotesDueTwoThousandTwentyEightMemberus-gaap:SeniorNotesMember2023-05-310000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300000860730hca:SeniorUnsecuredNotesMember2023-09-300000860730hca:SeniorSecuredTermLoanBFacilityMember2023-01-012023-01-310000860730hca:AmericanGroupMemberhca:ReorganizationGroupUnitsMember2023-09-300000860730us-gaap:CommonStockMember2023-01-012023-03-310000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-10-012022-12-310000860730us-gaap:AdditionalPaidInCapitalMember2023-03-310000860730hca:MedicaidMember2023-01-012023-09-300000860730us-gaap:RetainedEarningsMember2022-06-300000860730hca:MedicareMember2022-01-012022-09-300000860730us-gaap:SeniorNotesMemberhca:SeniorNotesDueTwoThousandThirtyThreeMember2023-05-310000860730us-gaap:NoncontrollingInterestMember2023-03-310000860730us-gaap:NoncontrollingInterestMember2022-06-300000860730hca:ManagedMedicareMember2022-01-012022-09-300000860730us-gaap:CorporateAndOtherMember2022-01-012022-09-3000008607302022-03-310000860730hca:InpatientServicesMember2023-01-012023-09-300000860730hca:MedicaidMember2022-01-012022-09-300000860730hca:SeniorSecuredAssetBasedRevolvingCreditFacilityMember2022-12-310000860730hca:NationalGroupMember2023-07-012023-09-300000860730hca:AtlanticGroupMember2023-07-012023-09-300000860730us-gaap:CorporateAndOtherMember2023-07-012023-09-300000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310000860730us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300000860730us-gaap:CommonStockMember2022-10-012022-12-310000860730us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300000860730us-gaap:DebtSecuritiesMember2022-12-310000860730hca:ManagedCareAndOtherInsurersMember2022-01-012022-09-300000860730us-gaap:NoncontrollingInterestMember2023-01-012023-03-310000860730hca:MedicareMember2022-07-012022-09-300000860730hca:ManagedCareAndOtherInsurersMember2023-07-012023-09-300000860730hca:AmericanGroupMember2023-07-012023-09-300000860730hca:OtherSeniorSecuredDebtMember2022-12-310000860730us-gaap:CommonStockMember2023-04-012023-06-300000860730us-gaap:NoncontrollingInterestMember2022-09-300000860730us-gaap:ProductAndServiceOtherMember2023-07-012023-09-300000860730hca:ManagedMedicareMember2023-01-012023-09-300000860730us-gaap:RetainedEarningsMember2022-01-012022-03-310000860730us-gaap:NoncontrollingInterestMember2022-07-012022-09-300000860730us-gaap:CommonStockMember2022-09-300000860730us-gaap:AdditionalPaidInCapitalMember2022-12-310000860730us-gaap:FairValueInputsLevel1Member2022-12-3100008607302023-09-300000860730hca:InternationalMember2022-07-012022-09-3000008607302022-07-012022-09-300000860730us-gaap:SeniorNotesMemberhca:SeniorNotesDueTwoThousandFiftyThreeMember2023-05-310000860730hca:SeniorUnsecuredNotesMember2022-12-310000860730us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300000860730hca:MedicaidMember2023-07-012023-09-300000860730hca:AmericanGroupMember2022-07-012022-09-300000860730us-gaap:FairValueInputsLevel1Member2023-09-300000860730us-gaap:CommonStockMember2023-09-300000860730hca:SeniorSecuredRevolvingCreditFacilityMaturingOnJuneThirtyTwoThousandTwentySixMember2023-01-012023-01-3100008607302022-01-012022-03-310000860730us-gaap:RetainedEarningsMember2022-10-012022-12-31iso4217:USDxbrli:sharesxbrli:purexbrli:shareshca:SurgeryCenterhca:Statehca:Hospitalhca:EndoscopyCenteriso4217:USD

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2023

Or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 1-11239

HCA Healthcare, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

27-3865930

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

One Park Plaza

Nashville, Tennessee

37203

(Address of principal executive offices)

(Zip Code)

(615) 344-9551

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

 

 

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Voting common stock, $.01 par value

HCA

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

 

 

 

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No

Indicate the number of shares outstanding of each of the issuer’s classes of common stock as of the latest practicable date.

Class of Common Stock

Outstanding at October 23, 2023

Voting common stock, $.01 par value

267,660,800 shares

 

 

 


 

HCA HEALTHCARE, INC.

Form 10-Q

September 30, 2023

 

 

 

Page of
Form 10-Q

Part I.

Financial Information

Item 1.

Financial Statements (Unaudited):

Condensed Consolidated Income Statements — for the quarters and nine months ended September 30, 2023 and 2022

3

 

 

 

Condensed Consolidated Comprehensive Income Statements — for the quarters and nine months ended September 30, 2023 and 2022

4

 

Condensed Consolidated Balance Sheets — September 30, 2023 and December 31, 2022

5

 

Condensed Consolidated Statements of Stockholders’ Equity (Deficit) — for the quarters and nine months ended September 30, 2023 and 2022

6

 

Condensed Consolidated Statements of Cash Flows — for the nine months ended September 30, 2023 and 2022

7

 

Notes to Condensed Consolidated Financial Statements

8

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

16

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

28

 

Item 4.

Controls and Procedures

28

Part II.

Other Information

Item 1.

Legal Proceedings

28

 

Item 1A.

Risk Factors

28

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

28

 

Item 5.

OOther Information

29

 

 

 

Item 6.

Exhibits

29

 

Signatures

30

2


 

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATED INCOME STATEMENTS

FOR THE QUARTERS AND NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2022

Unaudited

(Dollars in millions, except per share amounts)

 

 

 

Quarter

 

 

Nine Months

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Revenues

 

$

16,213

 

 

$

14,971

 

 

$

47,665

 

 

$

44,736

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and benefits

 

 

7,556

 

 

 

6,899

 

 

 

21,917

 

 

 

20,630

 

Supplies

 

 

2,417

 

 

 

2,320

 

 

 

7,318

 

 

 

6,942

 

Other operating expenses

 

 

3,379

 

 

 

2,860

 

 

 

9,316

 

 

 

8,305

 

Equity in (earnings) losses of affiliates

 

 

(19

)

 

 

(10

)

 

 

6

 

 

 

(29

)

Depreciation and amortization

 

 

769

 

 

 

749

 

 

 

2,288

 

 

 

2,219

 

Interest expense

 

 

483

 

 

 

446

 

 

 

1,447

 

 

 

1,288

 

Losses (gains) on sales of facilities

 

 

(2

)

 

 

3

 

 

 

12

 

 

 

25

 

Losses on retirement of debt

 

 

 

 

 

 

 

 

 

 

 

78

 

 

 

14,583

 

 

 

13,267

 

 

 

42,304

 

 

 

39,458

 

Income before income taxes

 

 

1,630

 

 

 

1,704

 

 

 

5,361

 

 

 

5,278

 

Provision for income taxes

 

 

355

 

 

 

360

 

 

 

1,131

 

 

 

1,090

 

Net income

 

 

1,275

 

 

 

1,344

 

 

 

4,230

 

 

 

4,188

 

Net income attributable to noncontrolling interests

 

 

196

 

 

 

210

 

 

 

595

 

 

 

626

 

Net income attributable to HCA Healthcare, Inc.

 

$

1,079

 

 

$

1,134

 

 

$

3,635

 

 

$

3,562

 

Per share data:

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings

 

$

3.98

 

 

$

3.97

 

 

$

13.26

 

 

$

12.13

 

Diluted earnings

 

$

3.91

 

 

$

3.91

 

 

$

13.07

 

 

$

11.97

 

Shares used in earnings per share calculations (in millions):

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

271.173

 

 

 

285.958

 

 

 

274.171

 

 

 

293.583

 

Diluted

 

 

275.424

 

 

 

289.852

 

 

 

278.173

 

 

 

297.702

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

3


 

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATED COMPREHENSIVE INCOME STATEMENTS

FOR THE QUARTERS AND NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2022

Unaudited

(Dollars in millions)

 

 

 

Quarter

 

 

Nine Months

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Net income

 

$

1,275

 

 

$

1,344

 

 

$

4,230

 

 

$

4,188

 

Other comprehensive loss before taxes:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation

 

 

(35

)

 

 

(76

)

 

 

3

 

 

 

(181

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized losses on available-for-sale securities

 

 

(7

)

 

 

(16

)

 

 

(5

)

 

 

(58

)

Losses included in other operating expenses

 

 

 

 

 

 

 

 

 

 

 

1

 

 

 

 

(7

)

 

 

(16

)

 

 

(5

)

 

 

(57

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Defined benefit plans

 

 

 

 

 

 

 

 

 

 

 

 

Pension costs included in salaries and benefits

 

 

1

 

 

 

2

 

 

 

1

 

 

 

7

 

 

 

1

 

 

 

2

 

 

 

1

 

 

 

7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in fair value of derivative financial instruments

 

 

 

 

 

1

 

 

 

 

 

 

6

 

Interest costs included in interest expense

 

 

 

 

 

 

 

 

 

 

 

4

 

 

 

 

 

 

1

 

 

 

 

 

 

10

 

Other comprehensive loss before taxes

 

 

(41

)

 

 

(89

)

 

 

(1

)

 

 

(221

)

Income tax benefits related to other comprehensive loss items

 

 

(6

)

 

 

(12

)

 

 

 

 

 

(33

)

Other comprehensive loss

 

 

(35

)

 

 

(77

)

 

 

(1

)

 

 

(188

)

Comprehensive income

 

 

1,240

 

 

 

1,267

 

 

 

4,229

 

 

 

4,000

 

Comprehensive income attributable to noncontrolling interests

 

 

196

 

 

 

210

 

 

 

595

 

 

 

626

 

Comprehensive income attributable to HCA Healthcare, Inc.

 

$

1,044

 

 

$

1,057

 

 

$

3,634

 

 

$

3,374

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

4


 

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

Unaudited

(Dollars in millions)

 

 

September 30,
2023

 

 

December 31,
2022

 

ASSETS

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

891

 

 

$

908

 

Accounts receivable

 

 

9,182

 

 

 

8,891

 

Inventories

 

 

2,030

 

 

 

2,068

 

Other

 

 

2,191

 

 

 

1,776

 

 

 

14,294

 

 

 

13,643

 

 

 

 

 

 

 

 

Property and equipment, at cost

 

 

57,772

 

 

 

54,757

 

Accumulated depreciation

 

 

(30,655

)

 

 

(29,182

)

 

 

27,117

 

 

 

25,575

 

 

 

 

 

 

 

 

Investments of insurance subsidiaries

 

 

382

 

 

 

381

 

Investments in and advances to affiliates

 

 

739

 

 

 

823

 

Goodwill and other intangible assets

 

 

9,778

 

 

 

9,653

 

Right-of-use operating lease assets

 

 

2,079

 

 

 

2,065

 

Other

 

 

200

 

 

 

298

 

 

$

54,589

 

 

$

52,438

 

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

4,139

 

 

$

4,239

 

Accrued salaries

 

 

1,912

 

 

 

1,712

 

Other accrued expenses

 

 

3,803

 

 

 

3,581

 

Long-term debt due within one year

 

 

2,553

 

 

 

370

 

 

 

12,407

 

 

 

9,902

 

 

 

 

 

 

 

 

Long-term debt, less debt issuance costs and discounts of $341 and $301

 

 

36,793

 

 

 

37,714

 

Professional liability risks

 

 

1,590

 

 

 

1,528

 

Right-of-use operating lease obligations

 

 

1,776

 

 

 

1,752

 

Income taxes and other liabilities

 

 

1,666

 

 

 

1,615

 

 

 

 

 

 

 

 

Stockholders’ equity (deficit):

 

 

 

 

 

 

Common stock $0.01 par; authorized 1,800,000,000 shares; outstanding 268,967,300 shares — 2023 and 277,378,300 shares — 2022

 

 

3

 

 

 

3

 

Accumulated other comprehensive loss

 

 

(491

)

 

 

(490

)

Retained deficit

 

 

(1,989

)

 

 

(2,280

)

Stockholders’ deficit attributable to HCA Healthcare, Inc.

 

 

(2,477

)

 

 

(2,767

)

Noncontrolling interests

 

 

2,834

 

 

 

2,694

 

 

 

357

 

 

 

(73

)

 

$

54,589

 

 

$

52,438

 

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

5


 

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

FOR THE QUARTERS AND NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2022

Unaudited

(Dollars in millions)

 

 

Equity (Deficit) Attributable to HCA Healthcare, Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

Accumulated

 

 

 

 

 

Equity

 

 

 

 

 

Common Stock

 

 

in Excess

 

 

Other

 

 

 

 

 

Attributable to

 

 

 

 

 

Shares

 

 

Par

 

 

of Par

 

 

Comprehensive

 

 

Retained

 

 

Noncontrolling

 

 

 

 

 

(in millions)

 

 

Value

 

 

Value

 

 

Loss

 

 

Deficit

 

 

Interests

 

 

Total

 

Balances, December 31, 2021

 

 

305.477

 

 

$

3

 

 

$

 

 

$

(404

)

 

$

(532

)

 

$

2,422

 

 

$

1,489

 

Comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

 

(43

)

 

 

1,273

 

 

 

192

 

 

 

1,422

 

Repurchase of common stock

 

 

(8.375

)

 

 

 

 

 

 

 

 

 

 

 

(2,101

)

 

 

 

 

 

(2,101

)

Share-based benefit plans

 

 

1.879

 

 

 

 

 

 

 

 

 

 

 

 

(57

)

 

 

 

 

 

(57

)

Cash dividends declared
   ($
0.56 per share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(171

)

 

 

 

 

 

(171

)

Distributions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(171

)

 

 

(171

)

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1

)

 

 

4

 

 

 

3

 

Balances, March 31, 2022

 

 

298.981

 

 

 

3

 

 

 

 

 

 

(447

)

 

 

(1,589

)

 

 

2,447

 

 

 

414

 

Comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

 

(68

)

 

 

1,155

 

 

 

224

 

 

 

1,311

 

Repurchase of common stock

 

 

(12.230

)

 

 

 

 

 

(111

)

 

 

 

 

 

(2,571

)

 

 

 

 

 

(2,682

)

Share-based benefit plans

 

 

0.253

 

 

 

 

 

 

118

 

 

 

 

 

 

 

 

 

 

 

 

118

 

Cash dividends declared
   ($
0.56 per share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(163

)

 

 

 

 

 

(163

)

Distributions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(162

)

 

 

(162

)

Other

 

 

 

 

 

 

 

 

(7

)

 

 

 

 

 

 

 

 

29

 

 

 

22

 

Balances, June 30, 2022

 

 

287.004

 

 

 

3

 

 

 

 

 

 

(515

)

 

 

(3,168

)

 

 

2,538

 

 

 

(1,142

)

Comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

 

(77

)

 

 

1,134

 

 

 

210

 

 

 

1,267

 

Repurchase of common stock

 

 

(3.361

)

 

 

 

 

 

(113

)

 

 

 

 

 

(585

)

 

 

 

 

 

(698

)

Share-based benefit plans

 

 

0.261

 

 

 

 

 

 

116

 

 

 

 

 

 

 

 

 

 

 

 

116

 

Cash dividends declared
   ($
0.56 per share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(162

)

 

 

 

 

 

(162

)

Distributions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(217

)

 

 

(217

)

Other

 

 

 

 

 

 

 

 

(3

)

 

 

 

 

 

 

 

 

61

 

 

 

58

 

Balances, September 30, 2022

 

 

283.904

 

 

 

3

 

 

 

 

 

 

(592

)

 

 

(2,781

)

 

 

2,592

 

 

 

(778

)

Comprehensive income

 

 

 

 

 

 

 

 

 

 

 

102

 

 

 

2,081

 

 

 

565

 

 

 

2,748

 

Repurchase of common stock

 

 

(6.781

)

 

 

 

 

 

(40

)

 

 

 

 

 

(1,479

)

 

 

 

 

 

(1,519

)

Share-based benefit plans

 

 

0.255

 

 

 

 

 

 

48

 

 

 

 

 

57

 

 

 

 

 

 

105

 

Cash dividends declared
   ($
0.56 per share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(159

)

 

 

 

 

 

(159

)

Distributions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(475

)

 

 

(475

)

Other

 

 

 

 

 

 

 

 

(8

)

 

 

 

 

 

1

 

 

 

12

 

 

 

5

 

Balances, December 31, 2022

 

 

277.378

 

 

 

3

 

 

 

 

 

 

(490

)

 

 

(2,280

)

 

 

2,694

 

 

 

(73

)

Comprehensive income

 

 

 

 

 

 

 

 

 

 

 

20

 

 

 

1,363

 

 

 

180

 

 

 

1,563

 

Repurchase of common stock

 

 

(3.340

)

 

 

 

 

 

 

 

 

 

 

 

(849

)

 

 

 

 

 

(849

)

Share-based benefit plans

 

 

1.902

 

 

 

 

 

 

 

 

 

 

 

 

(87

)

 

 

 

 

 

(87

)

Cash dividends declared
   ($
0.60 per share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(168

)