XML 47 R2.htm IDEA: XBRL DOCUMENT v3.24.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE TABLE
The following section was prepared in accordance with Item 402(v) of the SEC’s Regulation
S-K.
The following table provides additional compensation information for the past four fiscal years for our Chief Executive Officer (“CEO”) and our
non-CEO
Named Executive Officers (“Other NEOs”), as well as total shareholder return, net income attributable to UHS, Inc. and adjusted earnings per share, diluted performance results for our fiscal years ending in 2023, 2022 2021 and 2020:
 
Year
 
Summary
Compensation
Table Total for
CEO
(1)
   
Compensation
Actually Paid
to CEO
(2)
   
Summary
Compensation
Table Total for
CEO 2
(1)
   
Compensation
Actually Paid
to CEO 2
(2)
   
Average
Summary
Compensation
Table Total for
other NEOs
(1)
   
Average
Compensation
Actually Paid
for other
NEOs
(1)(2)
   
Value of initial fixed $100
investment based on:
   
Net Income
attributable
to UHS ($
in
thousands)
   
Adjusted
Earnings
per share,
diluted
(4)
 
 
Total
Shareholder
Return
(3)
   
Peer Group
Total
Shareholder
Return
(3)
 
2023
  $     $     $ 14,407,937     $ 14,959,742     $ 5,764,662     $ 4,627,875     $ 108     $ 191     $ 717,795     $ 10.54  
2022
  $     $     $ 10,919,976     $ 13,476,236     $ 3,270,794     $ 5,112,238     $ 100     $ 167     $ 675,609     $ 9.88  
2021
  $     $     $ 14,020,942     $ 9,784,532     $ 6,684,372     $ 995,897     $ 91     $ 181     $ 991,590     $ 11.82  
2020
  $ 13,246,214     $ 47,969,126     $     $     $ 1,825,611     $ 6,273,018     $ 96     $ 114     $ 943,953     $ 11.12  
 
(1)
Named executive officers included in the above compensation columns reflect the following:
 
Year
 
  
CEO
 
  
Non-CEO
NEOs
 
2023
   Marc D. Miller    Alan B. Miller, Filton, Peterson, Sim
2022
   Marc D. Miller    Alan B. Miller, Filton, Pember, Peterson, Sim
2021
   Marc D. Miller    Alan B. Miller, Filton, Pember, Peterson
2020
   Alan B. Miller    Marc D. Miller, Filton, Pember, Peterson
 
(2)
SEC rules require certain adjustment be made to the Summary Compensation Table (“SCT”) totals to determine “Compensation Actually Paid” (“CAP”) as reported in the Pay Versus Performance Table. CAP does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. In general, CAP is calculated as the total compensation from the SCT, adjusted to include, among other things, the fair market value of equity awards as of December 31 of the applicable year or, if earlier, the vesting date (rather than the grant date). No adjustment is made for dividends or other earnings, since dividends are factored into the fair value of the award.
The following tables detail these adjustments:
 
Fiscal
Year
 
Executives
 
SCT
(a)
   
Grant Date
Value of
New
Awards
(b)
   
Year End
Value of
New
Awards (i)
   
Change in
Value of
Unvested
Prior Awards
(ii)
   
Change in
Value of
Vested Prior
Awards
(iii)
   
Change in Value
of Awards that
Failed to
Meet Vesting
Conditions
(iv)
   
Total Equity
CAP
(c) = (i) + (ii) +
(iii) + (iv)
   
CAP
(d) = (a) - (b) + (c)
 
2023
  CEO 1   $     $     $     $     $     $     $     $  
2023
  CEO 2   $ 14,407,937     $ 9,888,558     $ 13,063,409     $ (131,034   $ (2,492,012   $     $ 10,440,363     $ 14,959,742  
2023
 
Non-CEO

NEOs
  $ 5,764,662     $ 3,384,852     $ 4,123,681     $ 349,678     $ (2,225,294   $     $ 2,248,065     $ 4,627,875  
2022
  CEO 1   $     $     $     $     $     $     $     $  
2022
  CEO 2   $ 10,919,976     $ 9,508,078     $ 9,680,126     $ 430,267     $ 1,953,945     $     $ 12,064,338     $ 13,476,236  
2022
 
Non-CEO

NEOs
  $ 3,270,794     $ 2,342,607     $ 1,915,653     $ 865,575     $ 1,920,853     $ (518,031   $ 4,184,050     $ 5,112,238  
2021
  CEO 1   $     $     $     $     $     $     $     $  
2021
  CEO 2   $ 14,020,942     $ 10,104,427     $ 8,545,032     $ (2,230,851   $ (446,165   $     $ 5,868,017     $ 9,784,532  
2021
 
Non-CEO

NEOs
  $ 6,684,372     $ 4,794,552     $ 4,054,620     $ (4,194,869   $ (753,674   $     $ (893,923   $ 995,897  
2020
  CEO 1   $ 13,246,214     $ 9,603,667     $ 48,125,827     $ 9,138,224     $ (12,937,472   $     $ 44,326,579     $ 47,969,126  
2020
  CEO 2   $     $     $     $     $     $     $     $  
2020
 
Non-CEO

NEOs
  $ 1,825,611     $ 1,057,222     $ 5,664,134     $ 1,053,709     $ (1,213,213   $     $ 5,504,630     $ 6,273,018  
Pay Versus Performance Table
 
 
 
(3)
Total Shareholder Return (“TSR”) is determined based upon the value of an initial fixed investment of $100. The TSR peer group consists of the industry line peer group reflected in our 2023 Annual Report on Form
10-K
pursuant to Item 201(e) of Regulation
S-K.
The companies in the peer group are as follows: Arcadia Healthcare Company, Inc., Community Health Systems, Inc., HCA Healthcare, Inc., and Tenet Healthcare Corporation. Each year reflects the cumulative total return assuming $100 invested on December 31, 2019 in our common stock and in the our peer group, including subsequent reinvestment of dividends.
 
(4)
Adjusted earnings per share, diluted, was selected by the Company as the Company-Selected Measure (“CSM”). It is a
non-Generally
Accepted Accounting Principles (“GAAP”) financial measure. A reconciliation of adjusted earnings per share, diluted, to the most directly comparable financial measure calculated in accordance with GAAP is included in the Company’s Form
8-K
filed with the SEC on February 27, 2024.
     
Company Selected Measure Name Adjusted earnings per share, diluted      
Named Executive Officers, Footnote
(1)
Named executive officers included in the above compensation columns reflect the following:
 
Year
 
  
CEO
 
  
Non-CEO
NEOs
 
2023
   Marc D. Miller    Alan B. Miller, Filton, Peterson, Sim
2022
   Marc D. Miller    Alan B. Miller, Filton, Pember, Peterson, Sim
2021
   Marc D. Miller    Alan B. Miller, Filton, Pember, Peterson
2020
   Alan B. Miller    Marc D. Miller, Filton, Pember, Peterson
     
Peer Group Issuers, Footnote Total Shareholder Return (“TSR”) is determined based upon the value of an initial fixed investment of $100. The TSR peer group consists of the industry line peer group reflected in our 2023 Annual Report on Form
10-K
pursuant to Item 201(e) of Regulation
S-K.
The companies in the peer group are as follows: Arcadia Healthcare Company, Inc., Community Health Systems, Inc., HCA Healthcare, Inc., and Tenet Healthcare Corporation. Each year reflects the cumulative total return assuming $100 invested on December 31, 2019 in our common stock and in the our peer group, including subsequent reinvestment of dividends.
     
Adjustment To PEO Compensation, Footnote
(2)
SEC rules require certain adjustment be made to the Summary Compensation Table (“SCT”) totals to determine “Compensation Actually Paid” (“CAP”) as reported in the Pay Versus Performance Table. CAP does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. In general, CAP is calculated as the total compensation from the SCT, adjusted to include, among other things, the fair market value of equity awards as of December 31 of the applicable year or, if earlier, the vesting date (rather than the grant date). No adjustment is made for dividends or other earnings, since dividends are factored into the fair value of the award.
The following tables detail these adjustments:
 
Fiscal
Year
 
Executives
 
SCT
(a)
   
Grant Date
Value of
New
Awards
(b)
   
Year End
Value of
New
Awards (i)
   
Change in
Value of
Unvested
Prior Awards
(ii)
   
Change in
Value of
Vested Prior
Awards
(iii)
   
Change in Value
of Awards that
Failed to
Meet Vesting
Conditions
(iv)
   
Total Equity
CAP
(c) = (i) + (ii) +
(iii) + (iv)
   
CAP
(d) = (a) - (b) + (c)
 
2023
  CEO 1   $     $     $     $     $     $     $     $  
2023
  CEO 2   $ 14,407,937     $ 9,888,558     $ 13,063,409     $ (131,034   $ (2,492,012   $     $ 10,440,363     $ 14,959,742  
2023
 
Non-CEO

NEOs
  $ 5,764,662     $ 3,384,852     $ 4,123,681     $ 349,678     $ (2,225,294   $     $ 2,248,065     $ 4,627,875  
2022
  CEO 1   $     $     $     $     $     $     $     $  
2022
  CEO 2   $ 10,919,976     $ 9,508,078     $ 9,680,126     $ 430,267     $ 1,953,945     $     $ 12,064,338     $ 13,476,236  
2022
 
Non-CEO

NEOs
  $ 3,270,794     $ 2,342,607     $ 1,915,653     $ 865,575     $ 1,920,853     $ (518,031   $ 4,184,050     $ 5,112,238  
2021
  CEO 1   $     $     $     $     $     $     $     $  
2021
  CEO 2   $ 14,020,942     $ 10,104,427     $ 8,545,032     $ (2,230,851   $ (446,165   $     $ 5,868,017     $ 9,784,532  
2021
 
Non-CEO

NEOs
  $ 6,684,372     $ 4,794,552     $ 4,054,620     $ (4,194,869   $ (753,674   $     $ (893,923   $ 995,897  
2020
  CEO 1   $ 13,246,214     $ 9,603,667     $ 48,125,827     $ 9,138,224     $ (12,937,472   $     $ 44,326,579     $ 47,969,126  
2020
  CEO 2   $     $     $     $     $     $     $     $  
2020
 
Non-CEO

NEOs
  $ 1,825,611     $ 1,057,222     $ 5,664,134     $ 1,053,709     $ (1,213,213   $     $ 5,504,630     $ 6,273,018  
     
Non-PEO NEO Average Total Compensation Amount $ 5,764,662 $ 3,270,794 $ 6,684,372 $ 1,825,611
Non-PEO NEO Average Compensation Actually Paid Amount $ 4,627,875 5,112,238 995,897 6,273,018
Adjustment to Non-PEO NEO Compensation Footnote
(2)
SEC rules require certain adjustment be made to the Summary Compensation Table (“SCT”) totals to determine “Compensation Actually Paid” (“CAP”) as reported in the Pay Versus Performance Table. CAP does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. In general, CAP is calculated as the total compensation from the SCT, adjusted to include, among other things, the fair market value of equity awards as of December 31 of the applicable year or, if earlier, the vesting date (rather than the grant date). No adjustment is made for dividends or other earnings, since dividends are factored into the fair value of the award.
The following tables detail these adjustments:
 
Fiscal
Year
 
Executives
 
SCT
(a)
   
Grant Date
Value of
New
Awards
(b)
   
Year End
Value of
New
Awards (i)
   
Change in
Value of
Unvested
Prior Awards
(ii)
   
Change in
Value of
Vested Prior
Awards
(iii)
   
Change in Value
of Awards that
Failed to
Meet Vesting
Conditions
(iv)
   
Total Equity
CAP
(c) = (i) + (ii) +
(iii) + (iv)
   
CAP
(d) = (a) - (b) + (c)
 
2023
  CEO 1   $     $     $     $     $     $     $     $  
2023
  CEO 2   $ 14,407,937     $ 9,888,558     $ 13,063,409     $ (131,034   $ (2,492,012   $     $ 10,440,363     $ 14,959,742  
2023
 
Non-CEO

NEOs
  $ 5,764,662     $ 3,384,852     $ 4,123,681     $ 349,678     $ (2,225,294   $     $ 2,248,065     $ 4,627,875  
2022
  CEO 1   $     $     $     $     $     $     $     $  
2022
  CEO 2   $ 10,919,976     $ 9,508,078     $ 9,680,126     $ 430,267     $ 1,953,945     $     $ 12,064,338     $ 13,476,236  
2022
 
Non-CEO

NEOs
  $ 3,270,794     $ 2,342,607     $ 1,915,653     $ 865,575     $ 1,920,853     $ (518,031   $ 4,184,050     $ 5,112,238  
2021
  CEO 1   $     $     $     $     $     $     $     $  
2021
  CEO 2   $ 14,020,942     $ 10,104,427     $ 8,545,032     $ (2,230,851   $ (446,165   $     $ 5,868,017     $ 9,784,532  
2021
 
Non-CEO

NEOs
  $ 6,684,372     $ 4,794,552     $ 4,054,620     $ (4,194,869   $ (753,674   $     $ (893,923   $ 995,897  
2020
  CEO 1   $ 13,246,214     $ 9,603,667     $ 48,125,827     $ 9,138,224     $ (12,937,472   $     $ 44,326,579     $ 47,969,126  
2020
  CEO 2   $     $     $     $     $     $     $     $  
2020
 
Non-CEO

NEOs
  $ 1,825,611     $ 1,057,222     $ 5,664,134     $ 1,053,709     $ (1,213,213   $     $ 5,504,630     $ 6,273,018  
     
Compensation Actually Paid vs. Total Shareholder Return
LOGO
 
     
Compensation Actually Paid vs. Net Income
 
LOGO
     
Compensation Actually Paid vs. Company Selected Measure
 
LOGO
     
Total Shareholder Return Vs Peer Group
LOGO
 
     
Tabular List, Table
Measures that were most important to the last fiscal year
The following performance measures reflect the Company’s most important performance measures in effect for 2023, as further described and defined in the Compensation Discussion and Analysis:
 
 
Adjusted earnings per share, diluted
 
 
Income before income taxes for each of the acute care and behavioral health division
 
 
Return on capital
     
Total Shareholder Return Amount $ 108 100 91 96
Peer Group Total Shareholder Return Amount 191 167 181 114
Net Income (Loss) $ 717,795,000 $ 675,609,000 $ 991,590,000 $ 943,953,000
Company Selected Measure Amount 10.54 9.88 11.82 11.12
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted earnings per share, diluted      
Non-GAAP Measure Description Adjusted earnings per share, diluted, was selected by the Company as the Company-Selected Measure (“CSM”). It is a
non-Generally
Accepted Accounting Principles (“GAAP”) financial measure. A reconciliation of adjusted earnings per share, diluted, to the most directly comparable financial measure calculated in accordance with GAAP is included in the Company’s Form
8-K
filed with the SEC on February 27, 2024.
     
Measure:: 2        
Pay vs Performance Disclosure        
Name Income before income taxes for each of the acute care and behavioral health division      
Measure:: 3        
Pay vs Performance Disclosure        
Name Return on capital      
Marc D. Miller [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 14,407,937 $ 10,919,976 $ 14,020,942 $ 0
PEO Actually Paid Compensation Amount $ 14,959,742 $ 13,476,236 $ 9,784,532 0
PEO Name Marc D. Miller Marc D. Miller Marc D. Miller  
Alan B. Miller [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 0 $ 0 $ 0 13,246,214
PEO Actually Paid Compensation Amount 0 0 0 $ 47,969,126
PEO Name       Alan B. Miller
PEO | Marc D. Miller [Member] | Grant Date Value of New Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 9,888,558 9,508,078 10,104,427 $ 0
PEO | Marc D. Miller [Member] | Year End Value of New Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 13,063,409 9,680,126 8,545,032 0
PEO | Marc D. Miller [Member] | Change in Value of Unvested Prior Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (131,034) 430,267 (2,230,851) 0
PEO | Marc D. Miller [Member] | Change in Value of Vested Prior Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,492,012) 1,953,945 (446,165) 0
PEO | Marc D. Miller [Member] | Change in Value of Awards that Failed to Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Marc D. Miller [Member] | Total Equity [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 10,440,363 12,064,338 5,868,017 0
PEO | Alan B. Miller [Member] | Grant Date Value of New Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 9,603,667
PEO | Alan B. Miller [Member] | Year End Value of New Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 48,125,827
PEO | Alan B. Miller [Member] | Change in Value of Unvested Prior Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 9,138,224
PEO | Alan B. Miller [Member] | Change in Value of Vested Prior Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 (12,937,472)
PEO | Alan B. Miller [Member] | Change in Value of Awards that Failed to Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Alan B. Miller [Member] | Total Equity [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 44,326,579
Non-PEO NEO | Grant Date Value of New Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,384,852 2,342,607 4,794,552 1,057,222
Non-PEO NEO | Year End Value of New Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 4,123,681 1,915,653 4,054,620 5,664,134
Non-PEO NEO | Change in Value of Unvested Prior Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 349,678 865,575 (4,194,869) 1,053,709
Non-PEO NEO | Change in Value of Vested Prior Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,225,294) 1,920,853 (753,674) (1,213,213)
Non-PEO NEO | Change in Value of Awards that Failed to Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 (518,031) 0 0
Non-PEO NEO | Total Equity [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 2,248,065 $ 4,184,050 $ (893,923) $ 5,504,630