Item 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, 2020. 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,
	2020			2019			2018			2017			2016
Summary of Operations (in thousands)
Net revenues	$	11,558,897		$	11,378,259		$	10,772,278		$	10,409,865		$	9,766,210
Income before income taxes	$	1,252,083		$	1,066,337		$	1,034,525		$	1,135,009		$	1,156,358
Net income attributable to UHS	$	943,953		$	814,854		$	779,705		$	752,303		$	702,409
Net margin		8.2	%		7.2	%		7.2	%		7.2	%		7.2	%
Return on average equity		16.1	%		15.0	%		14.6	%		15.5	%		16.0	%
Financial Data (in thousands)
Cash provided by operating activities	$	2,360,169		$	1,438,469		$	1,274,742		$	1,247,585		$	1,254,509
Capital expenditures, net (1)	$	731,307		$	634,095		$	664,962		$	557,506		$	519,939
Total assets	$	13,476,879		$	11,668,250		$	11,265,480		$	10,761,828		$	10,317,802
Current maturities of long-term debt	$	331,998		$	87,550		$	63,446		$	545,619		$	105,895
Long-term debt	$	3,524,253		$	3,896,577		$	3,935,187		$	3,494,390		$	4,030,230
UHS’s common stockholders’ equity	$	6,317,146		$	5,504,105		$	5,389,262		$	4,989,514		$	4,533,220
Percentage of total debt to total capitalization		38	%		42	%		43	%		45	%		48	%
Operating Data—Acute Care Hospitals (2)
Average licensed beds		6,457			6,379			6,232			6,127			5,934
Average available beds		6,285			6,205			6,056			5,954			5,759
Inpatient admissions		286,535			317,983			303,985			297,390			274,074
Average length of patient stay		5.1			4.6			4.5			4.4			4.6
Patient days		1,458,321			1,451,847			1,376,988			1,312,265			1,251,511
Occupancy rate for licensed beds		62	%		62	%		61	%		59	%		58	%
Occupancy rate for available beds		63	%		64	%		62	%		60	%		59	%
Operating Data—Behavioral Health Facilities (2)
Average licensed beds		23,661			23,812			23,509			23,151			21,829
Average available beds		23,559			23,711			23,425			23,068			21,744
Inpatient admissions		448,870			488,367			482,658			467,822			456,052
Average length of patient stay		13.7			13.3			13.3			13.6			13.2
Patient days		6,142,823			6,487,707			6,418,334			6,381,756			6,004,066
Occupancy rate for licensed beds		71	%		75	%		75	%		76	%		75	%
Occupancy rate for available beds		71	%		75	%		75	%		76	%		75	%
Per Share Data
Net income attributable to UHS—basic	$	11.06		$	9.16		$	8.35		$	7.86		$	7.22
Net income attributable to UHS—diluted	$	10.99		$	9.13		$	8.31		$	7.81		$	7.14
Dividends declared	$	0.20		$	0.60		$	0.40		$	0.40		$	0.40
Other Information (in thousands)
Weighted average number of shares outstanding—basic		85,061			88,762			93,276			95,652			97,208
Weighted average number of shares and share equivalents outstanding—diluted		85,587			89,040			93,750			96,325			98,380

(1)	Amounts exclude non-cash capital lease obligations, if any.

(2)	Excludes statistical information related to divested facilities.

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