filings.toolsItem 6. Selected Financial Data
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Item 6. Selected Financial Data
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The following table contains our selected financial data for, or as of the end of, each of the five years ended December 31, 2011. You should read this table in conjunction with the consolidated financial statements and related notes included elsewhere in this report and in Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
| Year Ended December 31 | ||||||||||||||||||||
| 2011 | 2010 (4) | 2009 | 2008 | 2007 | ||||||||||||||||
| Summary of Operations (in thousands) | ||||||||||||||||||||
| Net revenues | $ | 7,500,198 | $ | 5,568,185 | $ | 5,202,379 | $ | 5,022,417 | $ | 4,683,150 | ||||||||||
| Income from continuing operations before income taxes | $ | 696,336 | $ | 428,097 | $ | 474,722 | $ | 357,012 | $ | 318,628 | ||||||||||
| Net income attributable to UHS | $ | 398,167 | $ | 230,183 | $ | 260,373 | $ | 199,377 | $ | 170,387 | ||||||||||
| Net margin | 5.3 | % | 4.1 | % | 5.0 | % | 4.0 | % | 3.6 | % | ||||||||||
| Return on average equity | 18.1 | % | 12.1 | % | 15.4 | % | 13.0 | % | 11.3 | % | ||||||||||
| Financial Data (in thousands) | ||||||||||||||||||||
| Cash provided by operating activities | $ | 718,251 | $ | 501,344 | $ | 541,262 | $ | 494,187 | $ | 381,446 | ||||||||||
| Capital expenditures, net (1) | $ | 285,682 | $ | 239,274 | $ | 379,748 | $ | 354,537 | $ | 339,813 | ||||||||||
| Total assets | $ | 7,665,245 | $ | 7,527,936 | $ | 3,964,463 | $ | 3,742,462 | $ | 3,608,657 | ||||||||||
| Long-term borrowings | $ | 3,651,428 | $ | 3,912,102 | $ | 956,429 | $ | 990,661 | $ | 1,008,786 | ||||||||||
| UHS’s common stockholders’ equity | $ | 2,296,352 | $ | 1,978,772 | $ | 1,751,071 | $ | 1,543,850 | $ | 1,517,199 | ||||||||||
| Percentage of total debt to total capitalization | 61 | % | 66 | % | 35 | % | 39 | % | 40 | % | ||||||||||
| Operating Data—Acute Care Hospitals (2) | ||||||||||||||||||||
| Average licensed beds | 5,726 | 5,689 | 5,484 | 5,452 | 5,292 | |||||||||||||||
| Average available beds | 5,424 | 5,383 | 5,128 | 5,145 | 4,985 | |||||||||||||||
| Inpatient admissions | 258,754 | 264,470 | 265,244 | 263,536 | 256,681 | |||||||||||||||
| Average length of patient stay | 4.4 | 4.4 | 4.4 | 4.5 | 4.5 | |||||||||||||||
| Patient days | 1,151,183 | 1,155,984 | 1,166,704 | 1,182,894 | 1,149,399 | |||||||||||||||
| Occupancy rate for licensed beds | 55 | % | 56 | % | 58 | % | 59 | % | 60 | % | ||||||||||
| Occupancy rate for available beds | 58 | % | 59 | % | 62 | % | 63 | % | 63 | % | ||||||||||
| Operating Data—Behavioral Health Facilities | ||||||||||||||||||||
| Average licensed beds | 19,280 | 9,427 | 7,921 | 7,658 | 7,348 | |||||||||||||||
| Average available beds | 19,262 | 9,409 | 7,901 | 7,629 | 7,315 | |||||||||||||||
| Inpatient admissions | 352,208 | 166,434 | 136,639 | 129,553 | 119,730 | |||||||||||||||
| Average length of patient stay | 14.6 | 15.1 | 15.4 | 16.1 | 16.8 | |||||||||||||||
| Patient days | 5,157,454 | 2,507,046 | 2,105,625 | 2,085,114 | 2,007,119 | |||||||||||||||
| Occupancy rate for licensed beds | 73 | % | 73 | % | 73 | % | 74 | % | 75 | % | ||||||||||
| Occupancy rate for available beds | 73 | % | 73 | % | 73 | % | 75 | % | 75 | % | ||||||||||
| Per Share Data (3) | ||||||||||||||||||||
| Income from continuing operations attributable to UHS—basic | $ | 4.09 | $ | 2.37 | $ | 2.65 | $ | 1.90 | $ | 1.59 | ||||||||||
| Income from continuing operations attributable to UHS—diluted | $ | 4.04 | $ | 2.34 | $ | 2.64 | $ | 1.90 | $ | 1.59 | ||||||||||
| Net income attributable to UHS—basic | $ | 4.09 | $ | 2.37 | $ | 2.65 | $ | 1.96 | $ | 1.59 | ||||||||||
| Net income attributable to UHS—diluted | $ | 4.04 | $ | 2.34 | $ | 2.64 | $ | 1.96 | $ | 1.59 | ||||||||||
| Dividends declared | $ | 0.20 | $ | 0.20 | $ | 0.17 | $ | 0.16 | $ | 0.16 | ||||||||||
| Other Information (3) (in thousands) | ||||||||||||||||||||
| Weighted average number of shares outstanding—basic | 97,199 | 96,786 | 97,794 | 101,222 | 106,762 | |||||||||||||||
| Weighted average number of shares and share equivalents outstanding—diluted | 98,537 | 97,973 | 98,275 | 101,418 | 106,878 |
| (1) | Amounts exclude non-cash capital lease obligations, if any. |
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| (2) | Excludes statistical information related to divested facilities and facilities held for sale. |
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| (3) | All periods have been adjusted to reflect the two-for-one stock split in the form of a 100% stock dividend paid in December, 2009. |
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| (4) | Includes data for the facilities acquired from PSI on November 15, 2010 from the date of acquisition through December 31, 2010, excluding the data for the 3 former PSI facilities that were divested by us during the third and fourth quarters of 2011 and reflected as discontinued operations, as discussed herein. |
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Table of Contents
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