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Supplemental Condensed Consolidating Financial Information | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] |
Supplemental Condensed Consolidating Financial Information | 13) SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION Certain of our senior notes are guaranteed by a group of subsidiaries (the “Guarantors”). The Guarantors, each of which is a 100% directly owned subsidiary of Universal Health Services, Inc., fully and unconditionally guarantee the senior notes on a joint and several basis, subject to certain customary release provisions. The following financial statements present condensed consolidating financial data for (i) Universal Health Services, Inc. (on a parent company only basis), (ii) the combined Guarantors, (iii) the combined non guarantor subsidiaries (all other subsidiaries), (iv) an elimination column for adjustments to arrive at the information for the parent company, Guarantors, and non guarantors on a consolidated basis, and (v) the parent company and our subsidiaries on a consolidated basis. Investments in subsidiaries are accounted for by the parent company and the Guarantors using the equity method for this presentation. Results of operations of subsidiaries are therefore classified in the parent company’s and Guarantors’ investment in subsidiaries accounts. The elimination entries set forth in the following condensed consolidating financial statements eliminate distributed and undistributed income of subsidiaries, investments in subsidiaries, and intercompany balances and transactions between the parent, Guarantors, and non guarantors.
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME |
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2015 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Net revenues before provision for doubtful accounts |  | $ | 0 |  |  | $ | 6,798,664 |  |  | $ | 3,018,364 |  |  | $ | (32,304 | ) |  | $ | 9,784,724 |
Less: Provision for doubtful accounts |  |  | 0 |  |  |  | 481,294 |  |  |  | 259,979 |  |  |  | 0 |  |  |  | 741,273 |
Net revenues |  |  | 0 |  |  |  | 6,317,370 |  |  |  | 2,758,385 |  |  |  | (32,304 | ) |  |  | 9,043,451 |
Operating charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages and benefits |  |  | 0 |  |  |  | 3,014,296 |  |  |  | 1,198,091 |  |  |  | 0 |  |  |  | 4,212,387 |
Other operating expenses |  |  | 0 |  |  |  | 1,459,607 |  |  |  | 690,341 |  |  |  | (30,143 | ) |  |  | 2,119,805 |
Supplies expense |  |  | 0 |  |  |  | 583,644 |  |  |  | 390,444 |  |  |  | 0 |  |  |  | 974,088 |
Depreciation and amortization |  |  | 0 |  |  |  | 280,985 |  |  |  | 117,633 |  |  |  | 0 |  |  |  | 398,618 |
Lease and rental expense |  |  | 0 |  |  |  | 58,394 |  |  |  | 38,740 |  |  |  | (2,161 | ) |  |  | 94,973 |
Electronic health records incentive income |  |  | 0 |  |  |  | (12,232 | ) |  |  | (3,583 | ) |  |  | 0 |  |  |  | (15,815 | )
|  |  | 0 |  |  |  | 5,384,694 |  |  |  | 2,431,666 |  |  |  | (32,304 | ) |  |  | 7,784,056 |
Income from operations |  |  | 0 |  |  |  | 932,676 |  |  |  | 326,719 |  |  |  | 0 |  |  |  | 1,259,395 |
Interest expense |  |  | 107,665 |  |  |  | 4,695 |  |  |  | 1,134 |  |  |  | 0 |  |  |  | 113,494 |
Interest (income) expense, affiliate |  |  | 0 |  |  |  | 86,494 |  |  |  | (86,494 | ) |  |  | 0 |  |  |  | 0 |
Equity in net income of consolidated affiliates |  |  | (746,984 | ) |  |  | (215,119 | ) |  |  | 0 |  |  |  | 962,103 |  |  |  | 0 |
Income before income taxes |  |  | 639,319 |  |  |  | 1,056,606 |  |  |  | 412,079 |  |  |  | (962,103 | ) |  |  | 1,145,901 |
Provision for income taxes |  |  | (41,209 | ) |  |  | 354,611 |  |  |  | 81,801 |  |  |  | 0 |  |  |  | 395,203 |
Net income |  |  | 680,528 |  |  |  | 701,995 |  |  |  | 330,278 |  |  |  | (962,103 | ) |  |  | 750,698 |
Less: Income attributable to noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 70,170 |  |  |  | 0 |  |  |  | 70,170 |
Net income attributable to UHS |  | $ | 680,528 |  |  | $ | 701,995 |  |  | $ | 260,108 |  |  | $ | (962,103 | ) |  | $ | 680,528 |
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME |
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2014 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Net revenues before provision for doubtful accounts |  | $ | 0 |  |  | $ | 6,225,997 |  |  | $ | 2,707,294 |  |  | $ | (29,220 | ) |  | $ | 8,904,071 |
Less: Provision for doubtful accounts |  |  | 0 |  |  |  | 471,181 |  |  |  | 227,802 |  |  |  | 0 |  |  |  | 698,983 |
Net revenues |  |  | 0 |  |  |  | 5,754,816 |  |  |  | 2,479,492 |  |  |  | (29,220 | ) |  |  | 8,205,088 |
Operating charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages and benefits |  |  | 0 |  |  |  | 2,757,738 |  |  |  | 1,087,723 |  |  |  | 0 |  |  |  | 3,845,461 |
Other operating expenses |  |  | 0 |  |  |  | 1,342,745 |  |  |  | 607,098 |  |  |  | (27,100 | ) |  |  | 1,922,743 |
Supplies expense |  |  | 0 |  |  |  | 546,578 |  |  |  | 349,115 |  |  |  | 0 |  |  |  | 895,693 |
Depreciation and amortization |  |  | 0 |  |  |  | 269,490 |  |  |  | 106,134 |  |  |  | 0 |  |  |  | 375,624 |
Lease and rental expense |  |  | 0 |  |  |  | 58,619 |  |  |  | 37,494 |  |  |  | (2,120 | ) |  |  | 93,993 |
Electronic health records incentive income |  |  | 0 |  |  |  | (19,480 | ) |  |  | (8,422 | ) |  |  | 0 |  |  |  | (27,902 | )
Costs related to extinguishment of debt |  |  | 36,171 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 36,171 |
|  |  | 36,171 |  |  |  | 4,955,690 |  |  |  | 2,179,142 |  |  |  | (29,220 | ) |  |  | 7,141,783 |
Income from operations |  |  | (36,171 | ) |  |  | 799,126 |  |  |  | 300,350 |  |  |  | 0 |  |  |  | 1,063,305 |
Interest expense |  |  | 127,528 |  |  |  | 4,516 |  |  |  | 1,594 |  |  |  | 0 |  |  |  | 133,638 |
Interest (income) expense, affiliate |  |  | 0 |  |  |  | 88,246 |  |  |  | (88,246 | ) |  |  | 0 |  |  |  | 0 |
Equity in net income of consolidated affiliates |  |  | (646,386 | ) |  |  | (184,385 | ) |  |  | 0 |  |  |  | 830,771 |  |  |  | 0 |
Income before income taxes |  |  | 482,687 |  |  |  | 890,749 |  |  |  | 387,002 |  |  |  | (830,771 | ) |  |  | 929,667 |
Provision for income taxes |  |  | (62,656 | ) |  |  | 305,320 |  |  |  | 82,007 |  |  |  | 0 |  |  |  | 324,671 |
Net income |  |  | 545,343 |  |  |  | 585,429 |  |  |  | 304,995 |  |  |  | (830,771 | ) |  |  | 604,996 |
Less: Income attributable to noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 59,653 |  |  |  | 0 |  |  |  | 59,653 |
Net income attributable to UHS |  | $ | 545,343 |  |  | $ | 585,429 |  |  | $ | 245,342 |  |  | $ | (830,771 | ) |  | $ | 545,343 |
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME |
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2013 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Net revenues before provision for doubtful accounts |  | $ | 0 |  |  | $ | 5,734,385 |  |  | $ | 2,789,348 |  |  | $ | (28,644 | ) |  | $ | 8,495,089 |
Less: Provision for doubtful accounts |  |  | 0 |  |  |  | 657,106 |  |  |  | 470,110 |  |  |  | 0 |  |  |  | 1,127,216 |
Net revenues |  |  | 0 |  |  |  | 5,077,279 |  |  |  | 2,319,238 |  |  |  | (28,644 | ) |  |  | 7,367,873 |
Operating charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages and benefits |  |  | 0 |  |  |  | 2,573,205 |  |  |  | 1,031,415 |  |  |  | 0 |  |  |  | 3,604,620 |
Other operating expenses |  |  | 0 |  |  |  | 1,047,856 |  |  |  | 531,747 |  |  |  | (26,808 | ) |  |  | 1,552,795 |
Supplies expense |  |  | 0 |  |  |  | 510,078 |  |  |  | 311,011 |  |  |  | 0 |  |  |  | 821,089 |
Depreciation and amortization |  |  | 0 |  |  |  | 236,958 |  |  |  | 100,214 |  |  |  | 0 |  |  |  | 337,172 |
Lease and rental expense |  |  | 0 |  |  |  | 62,518 |  |  |  | 37,076 |  |  |  | (1,836 | ) |  |  | 97,758 |
Electronic health records incentive income |  |  | 0 |  |  |  | (43,027 | ) |  |  | (17,997 | ) |  |  | 0 |  |  |  | (61,024 | )
|  |  | 0 |  |  |  | 4,387,588 |  |  |  | 1,993,466 |  |  |  | (28,644 | ) |  |  | 6,352,410 |
Income from operations |  |  | 0 |  |  |  | 689,691 |  |  |  | 325,772 |  |  |  | 0 |  |  |  | 1,015,463 |
Interest expense |  |  | 139,793 |  |  |  | 3,365 |  |  |  | 2,973 |  |  |  | 0 |  |  |  | 146,131 |
Interest (income) expense, affiliate |  |  | 0 |  |  |  | 84,640 |  |  |  | (84,640 | ) |  |  | 0 |  |  |  | 0 |
Equity in net income of consolidated affiliates |  |  | (597,020 | ) |  |  | (141,004 | ) |  |  | 0 |  |  |  | 738,024 |  |  |  | 0 |
Income before income taxes |  |  | 457,227 |  |  |  | 742,690 |  |  |  | 407,439 |  |  |  | (738,024 | ) |  |  | 869,332 |
Provision for income taxes |  |  | (53,506 | ) |  |  | 262,346 |  |  |  | 106,469 |  |  |  | 0 |  |  |  | 315,309 |
Net income |  |  | 510,733 |  |  |  | 480,344 |  |  |  | 300,970 |  |  |  | (738,024 | ) |  |  | 554,023 |
Less: Income attributable to noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 43,290 |  |  |  | 0 |  |  |  | 43,290 |
Net income attributable to UHS |  | $ | 510,733 |  |  | $ | 480,344 |  |  | $ | 257,680 |  |  | $ | (738,024 | ) |  | $ | 510,733 |
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME |
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2015 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Net income |  | $ | 680,528 |  |  | $ | 701,995 |  |  | $ | 330,278 |  |  | $ | (962,103 | ) |  | $ | 750,698 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized derivative gains on cash flow hedges |  |  | 4,970 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 4,970 |
Amortization of terminated hedge |  |  | (336 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (336 | )
Minimum pension liability |  |  | 2,177 |  |  |  | 2,177 |  |  |  | 0 |  |  |  | (2,177 | ) |  |  | 2,177 |
Foreign currency translation adjustment |  |  | (1,728 | ) |  |  | (1,728 | ) |  |  | 0 |  |  |  | 1,728 |  |  |  | (1,728 | )
Other comprehensive income before tax |  |  | 5,083 |  |  |  | 449 |  |  |  | 0 |  |  |  | (449 | ) |  |  | 5,083 |
Income tax expense related to items of other comprehensive income |  |  | 2,980 |  |  |  | 817 |  |  |  | 0 |  |  |  | (817 | ) |  |  | 2,980 |
Total other comprehensive income, net of tax |  |  | 2,103 |  |  |  | (368 | ) |  |  | 0 |  |  |  | 368 |  |  |  | 2,103 |
Comprehensive income |  |  | 682,631 |  |  |  | 701,627 |  |  |  | 330,278 |  |  |  | (961,735 | ) |  |  | 752,801 |
Less: Comprehensive income attributable to noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 70,170 |  |  |  | 0 |  |  |  | 70,170 |
Comprehensive income attributable to UHS |  | $ | 682,631 |  |  | $ | 701,627 |  |  | $ | 260,108 |  |  | $ | (961,735 | ) |  | $ | 682,631 |
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME |
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2014 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Net income |  | $ | 545,343 |  |  | $ | 585,429 |  |  | $ | 304,995 |  |  | $ | (830,771 | ) |  | $ | 604,996 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized derivative gains on cash flow hedges |  |  | 17,668 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 17,668 |
Amortization of terminated hedge |  |  | (336 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (336 | )
Minimum pension liability |  |  | (14,270 | ) |  |  | (14,270 | ) |  |  | 0 |  |  |  | 14,270 |  |  |  | (14,270 | )
Foreign currency translation adjustment |  |  | (2,431 | ) |  |  | (2,431 | ) |  |  | 0 |  |  |  | 2,431 |  |  |  | (2,431 | )
Other comprehensive income before tax |  |  | 631 |  |  |  | (16,701 | ) |  |  | 0 |  |  |  | 16,701 |  |  |  | 631 |
Income tax expense related to items of other comprehensive income |  |  | 1,053 |  |  |  | (5,356 | ) |  |  | 0 |  |  |  | 5,356 |  |  |  | 1,053 |
Total other comprehensive income, net of tax |  |  | (422 | ) |  |  | (11,345 | ) |  |  | 0 |  |  |  | 11,345 |  |  |  | (422 | )
Comprehensive income |  |  | 544,921 |  |  |  | 574,084 |  |  |  | 304,995 |  |  |  | (819,426 | ) |  |  | 604,574 |
Less: Comprehensive income attributable to noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 59,653 |  |  |  | 0 |  |  |  | 59,653 |
Comprehensive income attributable to UHS |  | $ | 544,921 |  |  | $ | 574,084 |  |  | $ | 245,342 |  |  | $ | (819,426 | ) |  | $ | 544,921 |
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME |
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2013 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Net income |  | $ | 510,733 |  |  | $ | 480,344 |  |  | $ | 300,970 |  |  | $ | (738,024 | ) |  | $ | 554,023 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized derivative gains on cash flow hedges |  |  | 16,963 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 16,963 |
Amortization of terminated hedge |  |  | (336 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (336 | )
Minimum pension liability |  |  | 14,657 |  |  |  | 14,657 |  |  |  | 0 |  |  |  | (14,657 | ) |  |  | 14,657 |
Other comprehensive income before tax |  |  | 31,284 |  |  |  | 14,657 |  |  |  | 0 |  |  |  | (14,657 | ) |  |  | 31,284 |
Income tax expense related to items of other comprehensive income |  |  | 11,940 |  |  |  | 5,670 |  |  |  | 0 |  |  |  | (5,670 | ) |  |  | 11,940 |
Total other comprehensive income, net of tax |  |  | 19,344 |  |  |  | 8,987 |  |  |  | 0 |  |  |  | (8,987 | ) |  |  | 19,344 |
Comprehensive income |  |  | 530,077 |  |  |  | 489,331 |  |  |  | 300,970 |  |  |  | (747,011 | ) |  |  | 573,367 |
Less: Comprehensive income attributable to noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 43,290 |  |  |  | 0 |  |  |  | 43,290 |
Comprehensive income attributable to UHS |  | $ | 530,077 |  |  | $ | 489,331 |  |  | $ | 257,680 |  |  | $ | (747,011 | ) |  | $ | 530,077 |
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING BALANCE SHEET |
AS OF DECEMBER 31, 2015 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 0 |  |  | $ | 47,192 |  |  | $ | 14,036 |  |  | $ | 0 |  |  | $ | 61,228 |
Accounts receivable, net |  |  | 0 |  |  |  | 918,699 |  |  |  | 383,730 |  |  |  | 0 |  |  |  | 1,302,429 |
Supplies |  |  | 0 |  |  |  | 72,499 |  |  |  | 43,538 |  |  |  | 0 |  |  |  | 116,037 |
Deferred income taxes |  |  | 132,975 |  |  |  | 2,145 |  |  |  | 0 |  |  |  | 0 |  |  |  | 135,120 |
Other current assets |  |  | 0 |  |  |  | 89,973 |  |  |  | 13,517 |  |  |  | 0 |  |  |  | 103,490 |
Total current assets |  |  | 132,975 |  |  |  | 1,130,508 |  |  |  | 454,821 |  |  |  | 0 |  |  |  | 1,718,304 |
Investments in subsidiaries |  |  | 7,760,156 |  |  |  | 1,876,415 |  |  |  | 0 |  |  |  | (9,636,571 | ) |  |  | 0 |
Intercompany receivable |  |  | 80,764 |  |  |  | 0 |  |  |  | 747,709 |  |  |  | (828,473 | ) |  |  | 0 |
Intercompany note receivable |  |  | 0 |  |  |  | 0 |  |  |  | 1,242,937 |  |  |  | (1,242,937 | ) |  |  | 0 |
Property and equipment |  |  | 0 |  |  |  | 4,722,050 |  |  |  | 1,808,519 |  |  |  | 0 |  |  |  | 6,530,569 |
Less: accumulated depreciation |  |  | 0 |  |  |  | (1,845,746 | ) |  |  | (848,845 | ) |  |  | 0 |  |  |  | (2,694,591 | )
|  |  | 0 |  |  |  | 2,876,304 |  |  |  | 959,674 |  |  |  | 0 |  |  |  | 3,835,978 |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 0 |  |  |  | 3,070,061 |  |  |  | 526,053 |  |  |  | 0 |  |  |  | 3,596,114 |
Deferred charges |  |  | 25,877 |  |  |  | 5,530 |  |  |  | 3,950 |  |  |  | 0 |  |  |  | 35,357 |
Other |  |  | 14,251 |  |  |  | 394,998 |  |  |  | 39,111 |  |  |  | 0 |  |  |  | 448,360 |
|  | $ | 8,014,023 |  |  | $ | 9,353,816 |  |  | $ | 3,974,255 |  |  | $ | (11,707,981 | ) |  | $ | 9,634,113 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt |  | $ | 60,368 |  |  | $ | 1,223 |  |  | $ | 1,131 |  |  | $ | 0 |  |  | $ | 62,722 |
Accounts payable and accrued liabilities |  |  | 19,996 |  |  |  | 744,137 |  |  |  | 269,564 |  |  |  | 0 |  |  |  | 1,033,697 |
Federal and state taxes |  |  | 3,987 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 3,987 |
Total current liabilities |  |  | 84,351 |  |  |  | 745,360 |  |  |  | 270,695 |  |  |  | 0 |  |  |  | 1,100,406 |
Intercompany payable |  |  | 0 |  |  |  | 828,473 |  |  |  | 0 |  |  |  | (828,473 | ) |  |  | 0 |
Intercompany note payable |  |  | 0 |  |  |  | 1,242,937 |  |  |  | 0 |  |  |  | (1,242,937 | ) |  |  | 0 |
Other noncurrent liabilities |  |  | 1,982 |  |  |  | 206,287 |  |  |  | 70,565 |  |  |  | 0 |  |  |  | 278,834 |
Long-term debt |  |  | 3,362,143 |  |  |  | 16,790 |  |  |  | 8,370 |  |  |  | 0 |  |  |  | 3,387,303 |
Deferred income taxes |  |  | 315,900 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 315,900 |
Redeemable noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 242,509 |  |  |  | 0 |  |  |  | 242,509 |
Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
UHS common stockholders’ equity |  |  | 4,249,647 |  |  |  | 6,313,969 |  |  |  | 3,322,602 |  |  |  | (9,636,571 | ) |  |  | 4,249,647 |
Noncontrolling interest |  |  | 0 |  |  |  | 0 |  |  |  | 59,514 |  |  |  | 0 |  |  |  | 59,514 |
Total equity |  |  | 4,249,647 |  |  |  | 6,313,969 |  |  |  | 3,382,116 |  |  |  | (9,636,571 | ) |  |  | 4,309,161 |
|  | $ | 8,014,023 |  |  | $ | 9,353,816 |  |  | $ | 3,974,255 |  |  | $ | (11,707,981 | ) |  | $ | 9,634,113 |
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING BALANCE SHEET |
AS OF DECEMBER 31, 2014 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 0 |  |  | $ | 21,784 |  |  | $ | 10,285 |  |  | $ | 0 |  |  | $ | 32,069 |
Accounts receivable, net |  |  | 0 |  |  |  | 933,971 |  |  |  | 348,764 |  |  |  | 0 |  |  |  | 1,282,735 |
Supplies |  |  | 0 |  |  |  | 67,847 |  |  |  | 40,268 |  |  |  | 0 |  |  |  | 108,115 |
Deferred income taxes |  |  | 113,822 |  |  |  | 743 |  |  |  | 0 |  |  |  | 0 |  |  |  | 114,565 |
Other current assets |  |  | 0 |  |  |  | 62,431 |  |  |  | 15,223 |  |  |  | 0 |  |  |  | 77,654 |
Total current assets |  |  | 113,822 |  |  |  | 1,086,776 |  |  |  | 414,540 |  |  |  | 0 |  |  |  | 1,615,138 |
Investments in subsidiaries |  |  | 7,013,540 |  |  |  | 1,661,296 |  |  |  | 0 |  |  |  | (8,674,836 | ) |  |  | 0 |
Intercompany receivable |  |  | 103,808 |  |  |  | 0 |  |  |  | 408,682 |  |  |  | (512,490 | ) |  |  | 0 |
Intercompany note receivable |  |  | 0 |  |  |  | 0 |  |  |  | 1,222,637 |  |  |  | (1,222,637 | ) |  |  | 0 |
Property and equipment |  |  | 0 |  |  |  | 4,494,567 |  |  |  | 1,717,463 |  |  |  | 0 |  |  |  | 6,212,030 |
Less: accumulated depreciation |  |  | 0 |  |  |  | (1,686,192 | ) |  |  | (846,149 | ) |  |  | 0 |  |  |  | (2,532,341 | )
|  |  | 0 |  |  |  | 2,808,375 |  |  |  | 871,314 |  |  |  | 0 |  |  |  | 3,679,689 |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 0 |  |  |  | 2,764,555 |  |  |  | 526,658 |  |  |  | 0 |  |  |  | 3,291,213 |
Deferred charges |  |  | 32,379 |  |  |  | 5,402 |  |  |  | 2,538 |  |  |  | 0 |  |  |  | 40,319 |
Other |  |  | 9,601 |  |  |  | 283,302 |  |  |  | 55,181 |  |  |  | 0 |  |  |  | 348,084 |
|  | $ | 7,273,150 |  |  | $ | 8,609,706 |  |  | $ | 3,501,550 |  |  | $ | (10,409,963 | ) |  | $ | 8,974,443 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt |  | $ | 44,874 |  |  | $ | 1,260 |  |  | $ | 22,185 |  |  | $ | 0 |  |  | $ | 68,319 |
Accounts payable and accrued liabilities |  |  | 20,245 |  |  |  | 1,051,309 |  |  |  | 41,508 |  |  |  | 0 |  |  |  | 1,113,062 |
Federal and state taxes |  |  | 1,446 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,446 |
Total current liabilities |  |  | 66,565 |  |  |  | 1,052,569 |  |  |  | 63,693 |  |  |  | 0 |  |  |  | 1,182,827 |
Intercompany payable |  |  | 0 |  |  |  | 512,490 |  |  |  | 0 |  |  |  | (512,490 | ) |  |  | 0 |
Intercompany note payable |  |  | 0 |  |  |  | 1,222,637 |  |  |  | 0 |  |  |  | (1,222,637 | ) |  |  | 0 |
Other noncurrent liabilities |  |  | 1,322 |  |  |  | 189,456 |  |  |  | 77,777 |  |  |  | 0 |  |  |  | 268,555 |
Long-term debt |  |  | 3,187,103 |  |  |  | 20,212 |  |  |  | 2,900 |  |  |  | 0 |  |  |  | 3,210,215 |
Deferred income taxes |  |  | 282,214 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 282,214 |
Redeemable noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 239,552 |  |  |  | 0 |  |  |  | 239,552 |
Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
UHS common stockholders’ equity |  |  | 3,735,946 |  |  |  | 5,612,342 |  |  |  | 3,062,494 |  |  |  | (8,674,836 | ) |  |  | 3,735,946 |
Noncontrolling interest |  |  | 0 |  |  |  | 0 |  |  |  | 55,134 |  |  |  | 0 |  |  |  | 55,134 |
Total equity |  |  | 3,735,946 |  |  |  | 5,612,342 |  |  |  | 3,117,628 |  |  |  | (8,674,836 | ) |  |  | 3,791,080 |
|  | $ | 7,273,150 |  |  | $ | 8,609,706 |  |  | $ | 3,501,550 |  |  | $ | (10,409,963 | ) |  | $ | 8,974,443 |
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS |
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2015 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Net cash (used in) provided by operating activities |  | $ | (21,287 | ) |  | $ | 655,439 |  |  | $ | 386,746 |  |  | $ | 0 |  |  | $ | 1,020,898 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property and equipment additions, net of disposals |  |  | 0 |  |  |  | (209,355 | ) |  |  | (169,966 | ) |  |  | 0 |  |  |  | (379,321 | )
Acquisition of property and businesses |  |  |  |  |  |  | (513,382 | ) |  |  | (20,273 | ) |  |  |  |  |  |  | (533,655 | )
Proceeds received from sale of assets and businesses |  |  | 0 |  |  |  | 647 |  |  |  | 2,744 |  |  |  | 0 |  |  |  | 3,391 |
Increase in insurance subsidiary investments |  |  | 0 |  |  |  | (3,300 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (3,300 | )
Net cash used in investing activities |  |  | 0 |  |  |  | (725,390 | ) |  |  | (187,495 | ) |  |  | 0 |  |  |  | (912,885 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reduction of long-term debt |  |  | (42,133 | ) |  |  | (3,459 | ) |  |  | (22,574 | ) |  |  | 0 |  |  |  | (68,166 | )
Additional borrowings |  |  | 234,400 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 234,400 |
Financing costs |  |  | (515 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (515 | )
Repurchase of common shares |  |  | (209,782 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (209,782 | )
Dividends paid |  |  | (39,532 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (39,532 | )
Issuance of common stock |  |  | 8,441 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 8,441 |
Excess income tax benefits related to stock-based compensation |  |  | 47,364 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 47,364 |
Profit distributions to noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | (62,220 | ) |  |  | 0 |  |  |  | (62,220 | )
Proceeds received from sale/leaseback of real property |  |  | 0 |  |  |  | 0 |  |  |  | 12,765 |  |  |  | 0 |  |  |  | 12,765 |
Changes in intercompany balances with affiliates, net |  |  | 23,044 |  |  |  | 100,427 |  |  |  | (123,471 | ) |  |  | 0 |  |  |  | 0 |
Net cash provided by (used in) financing activities |  |  | 21,287 |  |  |  | 96,968 |  |  |  | (195,500 | ) |  |  | 0 |  |  |  | (77,245 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | 0 |  |  |  | (1,609 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (1,609 | )
Increase in cash and cash equivalents |  |  | 0 |  |  |  | 25,408 |  |  |  | 3,751 |  |  |  | 0 |  |  |  | 29,159 |
Cash and cash equivalents, beginning of period |  |  | 0 |  |  |  | 21,784 |  |  |  | 10,285 |  |  |  | 0 |  |  |  | 32,069 |
Cash and cash equivalents, end of period |  | $ | 0 |  |  | $ | 47,192 |  |  | $ | 14,036 |  |  | $ | 0 |  |  | $ | 61,228 |
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS |
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2014 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 18,579 |  |  | $ | 687,101 |  |  | $ | 330,196 |  |  | $ | 0 |  |  | $ | 1,035,876 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property and equipment additions, net of disposals |  |  | 0 |  |  |  | (230,102 | ) |  |  | (161,048 | ) |  |  | 0 |  |  |  | (391,150 | )
Acquisition of property and businesses |  |  | 0 |  |  |  | (422,081 | ) |  |  | (9,305 | ) |  |  | 0 |  |  |  | (431,386 | )
Proceeds received from sale of assets and businesses |  |  | 0 |  |  |  | 11,450 |  |  |  | 3,728 |  |  |  | 0 |  |  |  | 15,178 |
Costs incurred for purchase and implementation of electronic health records application |  |  | 0 |  |  |  | (13,488 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (13,488 | )
Increase in insurance subsidiary investments |  |  | 0 |  |  |  | (12,000 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (12,000 | )
Net cash used in investing activities |  |  | 0 |  |  |  | (666,221 | ) |  |  | (166,625 | ) |  |  | 0 |  |  |  | (832,846 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reduction of long-term debt |  |  | (866,748 | ) |  |  | (867 | ) |  |  | (11,514 | ) |  |  | 0 |  |  |  | (879,129 | )
Additional borrowings |  |  | 830,000 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 830,000 |
Financing costs |  |  | (14,976 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (14,976 | )
Repurchase of common shares |  |  | (100,749 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (100,749 | )
Dividends paid |  |  | (29,665 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (29,665 | )
Issuance of common stock |  |  | 6,863 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 6,863 |
Excess income tax benefits related to stock-based compensation |  |  | 33,912 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 33,912 |
Profit distributions to noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | (33,680 | ) |  |  | 0 |  |  |  | (33,680 | )
Changes in intercompany balances with affiliates, net |  |  | 122,784 |  |  |  | (5,444 | ) |  |  | (117,340 | ) |  |  | 0 |  |  |  | 0 |
Net cash used in financing activities |  |  | (18,579 | ) |  |  | (6,311 | ) |  |  | (162,534 | ) |  |  | 0 |  |  |  | (187,424 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | 0 |  |  |  | (775 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (775 | )
Increase in cash and cash equivalents |  |  | 0 |  |  |  | 13,794 |  |  |  | 1,037 |  |  |  | 0 |  |  |  | 14,831 |
Cash and cash equivalents, beginning of period |  |  | 0 |  |  |  | 7,990 |  |  |  | 9,248 |  |  |  | 0 |  |  |  | 17,238 |
Cash and cash equivalents, end of period |  | $ | 0 |  |  | $ | 21,784 |  |  | $ | 10,285 |  |  | $ | 0 |  |  | $ | 32,069 |
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS |
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2013 |
(amounts in thousands) |
|  | Parent |  |  | Guarantors |  |  | Non Guarantors |  |  | Consolidating Adjustments |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 17,946 |  |  | $ | 587,083 |  |  | $ | 279,212 |  |  | $ | 0 |  |  | $ | 884,241 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property and equipment additions, net of disposals |  |  | 0 |  |  |  | (269,419 | ) |  |  | (89,074 | ) |  |  | 0 |  |  |  | (358,493 | )
Acquisition of property and businesses |  |  | 0 |  |  |  | (8,094 | ) |  |  | (4,542 | ) |  |  | 0 |  |  |  | (12,636 | )
Proceeds received from sale of assets and businesses |  |  | 0 |  |  |  | 7,916 |  |  |  | 29,566 |  |  |  | 0 |  |  |  | 37,482 |
Costs incurred for purchase and implementation of electronic health records application |  |  | 0 |  |  |  | (49,811 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (49,811 | )
Net cash used in investing activities |  |  | 0 |  |  |  | (319,408 | ) |  |  | (64,050 | ) |  |  | 0 |  |  |  | (383,458 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reduction of long-term debt |  |  | (429,996 | ) |  |  | (109 | ) |  |  | (10,119 | ) |  |  | 0 |  |  |  | (440,224 | )
Additional borrowings |  |  | 15,761 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 15,761 |
Financing costs |  |  | (231 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (231 | )
Repurchase of common shares |  |  | (27,201 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (27,201 | )
Dividends paid |  |  | (19,621 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (19,621 | )
Issuance of common stock |  |  | 5,708 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 5,708 |
Excess income tax benefits related to stock-based compensation |  |  | 20,121 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 20,121 |
Profit distributions to noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | (61,329 | ) |  |  | 0 |  |  |  | (61,329 | )
Changes in intercompany balances with affiliates, net |  |  | 417,513 |  |  |  | (271,525 | ) |  |  | (145,988 | ) |  |  | 0 |  |  |  | 0 |
Net cash used in financing activities |  |  | (17,946 | ) |  |  | (271,634 | ) |  |  | (217,436 | ) |  |  | 0 |  |  |  | (507,016 | )
Decrease in cash and cash equivalents |  |  | 0 |  |  |  | (3,959 | ) |  |  | (2,274 | ) |  |  | 0 |  |  |  | (6,233 | )
Cash and cash equivalents, beginning of period |  |  | 0 |  |  |  | 11,949 |  |  |  | 11,522 |  |  |  | 0 |  |  |  | 23,471 |
Cash and cash equivalents, end of period |  | $ | 0 |  |  | $ | 7,990 |  |  | $ | 9,248 |  |  | $ | 0 |  |  | $ | 17,238 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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