Item 6. Selected Financial Data

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Item 6. Selected Financial Data

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HCA HEALTHCARE, INC.

SELECTED FINANCIAL DATA

AS OF AND FOR THE YEARS ENDED DECEMBER 31

(Dollars in millions, except per share amounts)

20182017201620152014
Summary of Operations:
Revenues$46,677$43,614$41,490$39,678$36,918
Salaries and benefits21,42520,05918,89718,11516,641
Supplies7,7247,3166,9336,6386,262
Other operating expenses8,6088,0517,4967,0566,630
Equity in earnings of affiliates(29)(45)(54)(46)(43)
Depreciation and amortization2,2782,1311,9661,9041,820
Interest expense1,7551,6901,7071,6651,743
Losses (gains) on sales of facilities(428)(8)(23)5(29)
Losses on retirement of debt9394135335
Legal claim (benefits) costs——(246)24978
41,34239,23336,68035,72133,437
Income before income taxes5,3354,3814,8103,9573,481
Provision for income taxes9461,6381,3781,2611,108
Net income4,3892,7433,4322,6962,373
Net income attributable to noncontrolling interests602527542567498
Net income attributable to HCA Healthcare, Inc.$3,787$2,216$2,890$2,129$1,875
Per common share data:
Basic earnings per share$10.90$6.12$7.53$5.14$4.30
Diluted earnings per share$10.66$5.95$7.30$4.99$4.16
Cash dividends declared per share$1.40————
Financial Position:
Assets$39,207$36,593$33,758$32,744$30,980
Working capital2,6443,8193,2523,7163,450
Long-term debt, net, including amounts due within one year32,82133,05831,37630,48829,426
Noncontrolling interests2,0321,8111,6691,5531,396
Stockholders’ deficit(2,918)(4,995)(5,633)(6,046)(6,498)
Cash Flow Data:
Cash provided by operating activities$6,761$5,426$5,653$4,734$4,448
Cash used in investing activities(3,901)(4,279)(3,240)(2,583)(2,918)
Purchase of property and equipment(3,573)(3,015)(2,760)(2,375)(2,176)
Cash used in financing activities(3,075)(1,061)(2,508)(1,976)(1,378)
Table of Contents
Index to Financial Statements
20182017201620152014
Operating Data:
Number of hospitals at end of period179179170168166
Number of freestanding outpatient surgical centers at end of period123120118116113
Number of licensed beds at end of period(a)47,19946,73844,29043,77143,356
Weighted average licensed beds(b)46,85745,38044,07743,62043,132
Admissions(c)2,003,7531,936,6131,891,8311,868,7891,795,312
Equivalent admissions(d)3,420,4063,286,4323,191,5193,122,7462,958,674
Average length of stay (days)(e)4.94.94.94.94.8
Average daily census(f)26,66326,00025,34025,08423,835
Occupancy(g)57%57%58%58%55%
Emergency room visits(h)8,764,4318,624,1378,378,3408,050,1597,450,748
Outpatient surgeries(i)971,537941,231*932,213909,386891,633
Inpatient surgeries(j)548,220540,304*537,306529,900518,881
Days revenues in accounts receivable(k)5152505354
Outpatient revenues as a % of patient revenues(l)38%38%38%40%38%
(a)Licensed beds are those beds for which a facility has been granted approval to operate from the applicable state licensing agency.
(b)Represents the average number of licensed beds, weighted based on periods owned.
(c)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.
(d)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.
(e)Represents the average number of days admitted patients stay in our hospitals.
(f)Represents the average number of patients in our hospital beds each day.
(g)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.
(h)Represents the number of patients treated in our emergency rooms.
(i)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.
(j)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.
(k)Revenues per day is calculated by dividing the revenues for the fourth quarter of each year by the days in the quarter. Days revenues in accounts receivable is then calculated as accounts receivable at the end of the period divided by revenues per day.
(l)Represents the percentage of patient revenues related to patients who are not admitted to our hospitals.
*Reclassifications between inpatient surgery cases and outpatient surgery cases for 2017 have been made to conform to the 2018 presentation.
Table of Contents
Index to Financial Statements

HCA HEALTHCARE, INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

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