Community Health Systems 2015 Annual Report Download - page 109

COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,
2015 2014 2013
(In millions, except share and per share data)
Operating revenues (net of contractual allowances and discounts) .......... $ 22,564 $ 21,561 $ 14,853
Provision for bad debts ........................................... 3,127 2,922 2,034
Net operating revenues ....................................... 19,437 18,639 12,819
Operating costs and expenses:
Salaries and benefits ........................................... 8,991 8,618 6,107
Supplies ..................................................... 3,048 2,862 1,975
Other operating expenses ....................................... 4,520 4,322 2,818
Government settlement and related costs ........................... 4 101 102
Electronic health records incentive reimbursement .................... (160) (259) (162)
Rent ........................................................ 457 434 279
Depreciation and amortization ................................... 1,172 1,106 771
Amortization of software to be abandoned .......................... - 75 -
Impairment of long-lived assets .................................. 68 41 12
Total operating costs and expenses .............................. 18,100 17,300 11,902
Income from operations ........................................... 1,337 1,339 917
Interest expense, net of interest income of $15, $5 and $3 in 2015, 2014 and
2013, respectively ............................................. 973 972 613
Loss from early extinguishment of debt .............................. 16 73 1
Equity in earnings of unconsolidated affiliates ......................... (63) (48) (43)
Income from continuing operations before income taxes ................. 411 342 346
Provision for income taxes ........................................ 116 82 104
Income from continuing operations .................................. 295 260 242
Discontinued operations, net of taxes:
Loss from operations of entities sold or held for sale .................. (27) (7) (21)
Impairment of hospitals sold or held for sale ........................ (5) (50) (4)
Loss on sale, net .............................................. (4) - -
Loss from discontinued operations, net of taxes ........................ (36) (57) (25)
Net income ..................................................... 259 203 217
Less: Net income attributable to noncontrolling interests ............... 101 111 76
Net income attributable to Community Health Systems, Inc. stockholders . . . $ 158 $ 92 $ 141
Basic earnings (loss) per share attributable to Community Health Systems,
Inc. common stockholders (1):
Continuing operations .......................................... $ 1.69 $ 1.33 $ 1.80
Discontinued operations ........................................ (0.31) (0.51) (0.27)
Net income .................................................. $ 1.38 $ 0.82 $ 1.52
Diluted earnings (loss) per share attributable to Community Health Systems,
Inc. common stockholders (1):
Continuing operations .......................................... $ 1.68 $ 1.32 $ 1.77
Discontinued operations ........................................ (0.31) (0.51) (0.27)
Net income .................................................. $ 1.37 $ 0.82 $ 1.51
Weighted-average number of shares outstanding:
Basic ....................................................... 114,454,674 111,579,088 92,633,332
Diluted ...................................................... 115,272,404 112,549,320 93,815,013
(1) Total per share amounts may not add due to rounding.
See notes to the consolidated financial statements.
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