Net income attributable to noncontrolling interests
640
602
527
542
567
Net income attributable to HCA Healthcare, Inc.
$
3,505
$
3,787
$
2,216
$
2,890
$
2,129
Per common share data:
Basic earnings per share
$
10.27
$
10.90
$
6.12
$
7.53
$
5.14
Diluted earnings per share
$
10.07
$
10.66
$
5.95
$
7.30
$
4.99
Cash dividends declared per share
$
1.60
$
1.40
—
—
—
Financial Position:
Assets
$
45,058
$
39,207
$
36,593
$
33,758
$
32,744
Working capital
3,439
2,644
3,819
3,252
3,716
Long-term debt, net, including amounts due within one year
33,722
32,821
33,058
31,376
30,488
Noncontrolling interests
2,243
2,032
1,811
1,669
1,553
Stockholders’ deficit
(565
)
(2,918
)
(4,995
)
(5,633
)
(6,046
)
Cash Flow Data:
Cash provided by operating activities
$
7,602
$
6,761
$
5,426
$
5,653
$
4,734
Cash used in investing activities
(5,720
)
(3,901
)
(4,279
)
(3,240
)
(2,583
)
Purchase of property and equipment
(4,158
)
(3,573
)
(3,015
)
(2,760
)
(2,375
)
Cash used in financing activities
(1,771
)
(3,075
)
(1,061
)
(2,508
)
(1,976
)
2019
2018
2017
2016
2015
Operating Data:
Number of hospitals at end of period
184
179
179
170
168
Number of freestanding outpatient surgical centers at end of period
123
123
120
118
116
Number of licensed beds at end of period(a)
49,035
47,199
46,738
44,290
43,771
Weighted average licensed beds(b)
48,480
46,857
45,380
44,077
43,620
Admissions(c)
2,108,927
2,003,753
1,936,613
1,891,831
1,868,789
Equivalent admissions(d)
3,646,335
3,420,406
3,286,432
3,191,519
3,122,746
Average length of stay (days)(e)
4.9
4.9
4.9
4.9
4.9
Average daily census(f)
28,134
26,663
26,000
25,340
25,084
Occupancy(g)
58
%
57
%
57
%
58
%
58
%
Emergency room visits(h)
9,161,129
8,764,431
8,624,137
8,378,340
8,050,159
Outpatient surgeries(i)
1,009,947
971,537
941,231
932,213
909,386
Inpatient surgeries(j)
566,635
548,220
540,304
537,306
529,900
Days revenues in accounts receivable(k)
50
51
52
50
53
Outpatient revenues as a % of patient revenues(l)
39
%
38
%
38
%
38
%
40
%
(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.
HCA HEALTHCARE, INC.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
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