HCA Healthcare, Inc. has $1.000 billion aggregate principal amount of 6.250% senior unsecured notes due 2021 outstanding. These notes are senior unsecured obligations and are not guaranteed by any of our subsidiaries.

HCA Inc., a direct wholly-owned subsidiary of HCA Healthcare, Inc., is the obligor under a significant portion of our other indebtedness, including our senior secured credit facilities, senior secured notes and senior unsecured notes (other than the senior unsecured notes issued by HCA Healthcare, Inc.). The senior secured notes and senior unsecured notes issued by HCA Inc. are fully and unconditionally guaranteed by HCA Healthcare, Inc. The senior secured credit facilities and senior secured notes are fully and

unconditionally guaranteed by substantially all existing and future, direct and indirect, 100% owned material domestic subsidiaries that are “Unrestricted Subsidiaries” under our Indenture dated December 16, 1993 (except for certain special purpose subsidiaries that only guarantee and pledge their assets under our senior secured asset-based revolving credit facility).

Our summarized condensed consolidating comprehensive income statements for the quarters and six months ended June 30, 2019 and 2018, condensed consolidating balance sheets at June 30, 2019 and December 31, 2018 and condensed consolidating statements of cash flows for the six months ended June 30, 2019 and 2018, segregating HCA Healthcare, Inc. issuer, HCA Inc. issuer, the subsidiary guarantors, the subsidiary

non-guarantors

and eliminations, follow:

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATING COMPREHENSIVE INCOME STATEMENT

FOR THE QUARTER ENDED JUNE 30, 2019

(Dollars in millions)


	HCA Healthcare, Inc. Issuer			HCA Inc. Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Eliminations			Condensed Consolidated
Revenues	$	—		$	—		$	7,129		$	5,473		$	—		$	12,602

Salaries and benefits		—			—			3,199			2,638			—			5,837
Supplies		—			—			1,189			929			—			2,118
Other operating expenses		1			—			1,157			1,204			—			2,362
Equity in earnings of affiliates		(822	)		—			(1	)		(7	)		822			(8	)
Depreciation and amortization		—			—			354			282			—			636
Interest expense (income)		16			1,010			(511	)		(38	)		—			477
Gains on sales of facilities		—			—			(8	)		(10	)		—			(18	)
Management fees		—			—			(205	)		205			—			—

		(805	)		1,010			5,174			5,203			822			11,404

Income (loss) before income taxes		805			(1,010	)		1,955			270			(822	)		1,198
Provision (benefit) for income taxes		22			(235	)		450			34			—			271

Net income (loss)		783			(775	)		1,505			236			(822	)		927
Net income attributable to noncontrolling interests		—			—			21			123			—			144

Net income (loss) attributable to HCA Healthcare, Inc.	$	783		$	(775	)	$	1,484		$	113		$	(822	)	$	783

Comprehensive income (loss) attributable to HCA Healthcare, Inc.	$	726		$	(806	)	$	1,487		$	84		$	(765	)	$	726

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATING COMPREHENSIVE INCOME STATEMENT

FOR THE QUARTER ENDED JUNE 30, 2018

(Dollars in millions)


	HCA Healthcare, Inc. Issuer			HCA Inc. Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Eliminations			Condensed Consolidated
Revenues	$	—		$	—		$	6,774		$	4,755		$	—		$	11,529

Salaries and benefits		—			—			3,025			2,249			—			5,274
Supplies		—			—			1,127			790			—			1,917
Other operating expenses		4			—			1,122			992			—			2,118
Equity in earnings of affiliates		(852	)		—			(1	)		(6	)		852			(7	)
Depreciation and amortization		—			—			329			233			—			562
Interest expense (income)		16			867			(389	)		(58	)		—			436
Losses (gains) on sales of facilities		—			—			23			(32	)		—			(9	)
Management fees		—			—			(157	)		157			—			—

		(832	)		867			5,079			4,325			852			10,291


Income (loss) before income taxes		832			(867	)		1,695			430			(852	)		1,238
Provision (benefit) for income taxes		12			(201	)		389			72			—			272

Net income (loss)		820			(666	)		1,306			358			(852	)		966
Net income attributable to noncontrolling interests		—			—			22			124			—			146

Net income (loss) attributable to HCA Healthcare, Inc.	$	820		$	(666	)	$	1,284		$	234		$	(852	)	$	820

Comprehensive income (loss) attributable to HCA Healthcare, Inc.	$	756		$	(656	)	$	1,287		$	157		$	(788	)	$	756

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATING COMPREHENSIVE INCOME STATEMENT

FOR THE SIX MONTHS ENDED JUNE 30, 2019

(Dollars in millions)


	HCA Healthcare, Inc. Issuer			HCA Inc. Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Eliminations			Condensed Consolidated
Revenues	$	—		$	—		$	14,353		$	10,766		$	—		$	25,119

Salaries and benefits		—			—			6,336			5,148			—			11,484
Supplies		—			—			2,366			1,793			—			4,159
Other operating expenses		3			—			2,303			2,355			—			4,661
Equity in earnings of affiliates		(1,848	)		—			(3	)		(16	)		1,848			(19	)
Depreciation and amortization		—			—			709			546			—			1,255
Interest expense (income)		32			2,005			(984	)		(115	)		—			938
Gains on sales of facilities		—			—			(7	)		(10	)		—			(17	)
Management fees		—			—			(376	)		376			—			—

		(1,813	)		2,005			10,344			10,077			1,848			22,461


Income (loss) before income taxes		1,813			(2,005	)		4,009			689			(1,848	)		2,658
Provision (benefit) for income taxes		(9	)		(466	)		922			103			—			550

Net income (loss)		1,822			(1,539	)		3,087			586			(1,848	)		2,108
Net income attributable to noncontrolling interests		—			—			41			245			—			286

Net income (loss) attributable to HCA Healthcare, Inc.	$	1,822		$	(1,539	)	$	3,046		$	341		$	(1,848	)	$	1,822

Comprehensive income (loss) attributable to HCA Healthcare, Inc.	$	1,772		$	(1,588	)	$	3,051		$	335		$	(1,798	)	$	1,772

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATING COMPREHENSIVE INCOME STATEMENT

FOR THE SIX MONTHS ENDED JUNE 30, 2018

(Dollars in millions)


	HCA Healthcare, Inc. Issuer			HCA Inc. Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Eliminations			Condensed Consolidated
Revenues	$	—		$	—		$	13,550		$	9,402		$	—		$	22,952

Salaries and benefits		—			—			6,094			4,469			—			10,563
Supplies		—			—			2,268			1,564			—			3,832
Other operating expenses		5			—			2,250			1,973			—			4,228
Equity in earnings of affiliates		(1,942	)		—			(3	)		(13	)		1,942			(16	)
Depreciation and amortization		—			—			652			463			—			1,115
Interest expense (income)		32			1,704			(756	)		(113	)		—			867
Gains on sales of facilities		—			—			(372	)		(42	)		—			(414	)
Management fees		—			—			(315	)		315			—			—

		(1,905	)		1,704			9,818			8,616			1,942			20,175


Income (loss) before income taxes		1,905			(1,704	)		3,732			786			(1,942	)		2,777
Provision (benefit) for income taxes		(59	)		(396	)		856			128			—			529

Net income (loss)		1,964			(1,308	)		2,876			658			(1,942	)		2,248
Net income attributable to noncontrolling interests		—			—			50			234			—			284

Net income (loss) attributable to HCA Healthcare, Inc.	$	1,964		$	(1,308	)	$	2,826		$	424		$	(1,942	)	$	1,964

Comprehensive income (loss) attributable to HCA Healthcare, Inc.	$	1,981		$	(1,271	)	$	2,833		$	397		$	(1,959	)	$	1,981

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

JUNE 30, 2019

(Dollars in millions)


	HCA Healthcare, Inc. Issuer			HCA Inc. Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Eliminations			Condensed Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	300		$	—		$	1,700		$	430		$	—		$	2,430
Accounts receivable		—			—			4,004			3,215			—			7,219
Inventories		—			—			1,194			632			—			1,826
Other		—			—			756			638			—			1,394

		300			—			7,654			4,915			—			12,869

Property and equipment, net		—			—			12,749			8,718			—			21,467
Investments of insurance subsidiaries		—			—			—			342			—			342
Investments in and advances to affiliates		34,964			—			29			218			(34,964	)		247
Goodwill and other intangible assets		—			—			5,725			2,415			—			8,140
Right-of-use operating lease assets		—			—			436			1,351			—			1,787
Other		462			—			21			114			—			597

	$	35,726		$	—		$	26,614		$	18,073		$	(34,964	)	$	45,449

LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	—		$	1,754		$	855		$	—		$	2,609
Accrued salaries		—			—			908			589			—			1,497
Other accrued expenses		67			441			896			1,378			—			2,782
Long-term debt due within one year		—			1,976			53			44			—			2,073

		67			2,417			3,611			2,866			—			8,961

Long-term debt, net		997			32,579			224			320			—			34,120
Intercompany balances		37,985			(8,618	)		(29,356	)		(11	)		—			—
Professional liability risks		—			—			—			1,354			—			1,354
Right-of-use operating lease obligations		—			—			331			1,129			—			1,460
Income taxes and other liabilities		579			—			232			513			—			1,324

		39,628			26,378			(24,958	)		6,171			—			47,219
Stockholders’ (deficit) equity attributable to HCA Healthcare, Inc.		(3,902	)		(26,378	)		51,488			9,854			(34,964	)		(3,902	)
Noncontrolling interests		—			—			84			2,048			—			2,132

		(3,902	)		(26,378	)		51,572			11,902			(34,964	)		(1,770	)

	$	35,726		$	—		$	26,614		$	18,073		$	(34,964	)	$	45,449

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2018

(Dollars in millions)


	HCA Healthcare, Inc. Issuer			HCA Inc. Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Eliminations			Condensed Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	—		$	174		$	328		$	—		$	502
Accounts receivable		—			—			3,964			2,825			—			6,789
Inventories		—			—			1,178			554			—			1,732
Other		—			—			669			521			—			1,190

		—			—			5,985			4,228			—			10,213
Property and equipment, net		—			—			12,450			7,307			—			19,757
Investments of insurance subsidiaries		—			—			—			362			—			362
Investments in and advances to affiliates		33,166			—			29			203			(33,166	)		232
Goodwill and other intangible assets		—			—			5,724			2,229			—			7,953
Other		478			64			35			113			—			690

	$	33,644		$	64		$	24,223		$	14,442		$	(33,166	)	$	39,207

LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	—		$	1,721		$	856		$	—		$	2,577
Accrued salaries		—			—			998			582			—			1,580
Other accrued expenses		142			403			905			1,174			—			2,624
Long-term debt due within one year		—			696			55			37			—			788

		142			1,099			3,679			2,649			—			7,569
Long-term debt, net		996			30,544			212			281			—			32,033
Intercompany balances		36,951			(6,789	)		(28,415	)		(1,747	)		—			—
Professional liability risks		—			—			—			1,275			—			1,275
Income taxes and other liabilities		505			—			223			520			—			1,248

		38,594			24,854			(24,301	)		2,978			—			42,125
Stockholders’ (deficit) equity attributable to HCA Healthcare, Inc.		(4,950	)		(24,790	)		48,437			9,519			(33,166	)		(4,950	)
Noncontrolling interests		—			—			87			1,945			—			2,032

		(4,950	)		(24,790	)		48,524			11,464			(33,166	)		(2,918	)

	$	33,644		$	64		$	24,223		$	14,442		$	(33,166	)	$	39,207

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2019

(Dollars in millions)


	HCA Healthcare, Inc. Issuer			HCA Inc. Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Eliminations			Condensed Consolidated
Cash flows from operating activities:
Net income (loss)	$	1,822		$	(1,539	)	$	3,087		$	586		$	(1,848	)	$	2,108
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Changes in operating assets and liabilities		—			40			(305	)		(378	)		—			(643	)
Depreciation and amortization		—			—			709			546			—			1,255
Income taxes		27			—			—			—			—			27
Gains on sales of facilities		—			—			(7	)		(10	)		—			(17	)
Amortization of debt issuance costs and discounts		—			16			—			—			—			16
Share-based compensation		—			—			158			—			—			158
Equity in earnings of affiliates		(1,848	)		—			—			—			1,848			—
Other		54			—			14			(1	)		—			67

Net cash provided by (used in) operating activities		55			(1,483	)		3,656			743			—			2,971

Cash flows from investing activities:
Purchase of property and equipment		—			—			(953	)		(792	)		—			(1,745	)
Acquisition of hospitals and health care entities		—			—			(35	)		(1,469	)		—			(1,504	)
Disposition of hospitals and health care entities		—			—			30			11			—			41
Change in investments		—			—			14			45			—			59
Other		—			—			(9	)		45			—			36

Net cash used in investing activities		—			—			(953	)		(2,160	)		—			(3,113	)

Cash flows from financing activities:
Issuance of long-term debt		—			6,451			—			—			—			6,451
Net change in revolving credit facilities		—			(3,040	)		—			—			—			(3,040	)
Repayment of long-term debt		—			(47	)		(31	)		(20	)		—			(98	)
Distributions to noncontrolling interests		—			—			(44	)		(203	)		—			(247	)
Payment of debt issuance costs		—			(63	)		—			—			—			(63	)
Payment of cash dividends		(278	)		—			—			—			—			(278	)
Repurchases of common stock		(520	)		—			—			—			—			(520	)
Changes in intercompany balances with affiliates, net		1,165			(1,818	)		(1,102	)		1,755			—			—
Other		(122	)		—			—			(13	)		—			(135	)

Net cash provided by (used in) financing activities		245			1,483			(1,177	)		1,519			—			2,070

Change in cash and cash equivalents		300			—			1,526			102			—			1,928
Cash and cash equivalents at beginning of period		—			—			174			328			—			502

Cash and cash equivalents at end of period	$	300		$	—		$	1,700		$	430		$	—		$	2,430

HCA HEALTHCARE, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2018

(Dollars in millions)


	HCA Healthcare, Inc. Issuer			HCA Inc. Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Eliminations			Condensed Consolidated
Cash flows from operating activities:
Net income (loss)	$	1,964		$	(1,308	)	$	2,876		$	658		$	(1,942	)	$	2,248
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Changes in operating assets and liabilities		—			2			(352	)		(52	)		—			(402	)
Depreciation and amortization		—			—			652			463			—			1,115
Income taxes		118			—			—			—			—			118
Gains on sales of facilities		—			—			(372	)		(42	)		—			(414	)
Amortization of debt issuance costs and discounts		—			15			—			—			—			15
Share-based compensation		—			—			134			—			—			134
Equity in earnings of affiliates		(1,942	)		—			—			—			1,942			—
Other		43			—			—			8			—			51

Net cash provided by (used in) operating activities		183			(1,291	)		2,938			1,035			—			2,865

Cash flows from investing activities:
Purchase of property and equipment		—			—			(900	)		(674	)		—			(1,574	)
Acquisition of hospitals and health care entities		—			—			(438	)		(100	)		—			(538	)
Disposition of hospitals and health care entities		—			—			767			32			—			799
Change in investments		—			—			17			6			—			23
Other		—			—			(30	)		5			—			(25	)

Net cash used in investing activities		—			—			(584	)		(731	)		—			(1,315	)

Cash flows from financing activities:
Net change in revolving credit facilities		—			210			—			—			—			210
Repayment of long-term debt		—			(41	)		(38	)		(22	)		—			(101	)
Distributions to noncontrolling interests		—			—			(43	)		(142	)		—			(185	)
Payment of debt issuance costs		—			(2	)		—			—			—			(2	)
Payment of cash dividends		(245	)		—			—			—			—			(245	)
Repurchases of common stock		(893	)		—			—			—			—			(893	)
Changes in intercompany balances with affiliates, net		1,150			1,124			(2,188	)		(86	)		—			—
Other		(196	)		—			—			4			—			(192	)

Net cash (used in) provided by financing activities		(184	)		1,291			(2,269	)		(246	)		—			(1,408	)

Effect on exchange rate changes on cash and cash equivalents		—			—			—			(6	)		—			(6	)

Change in cash and cash equivalents		(1	)		—			85			52			—			136
Cash and cash equivalents at beginning of period		1			—			112			619			—			732

Cash and cash equivalents at end of period	$	—		$	—		$	197		$	671		$	—		$	868