Universal Health Services, Inc.
Condensed Consolidated Balance Sheets
(in thousands, unaudited)

  June 30,   December 31,
2003
2002
Assets:    
Cash and cash equivalents $26,704 $17,750
Accounts receivable, net 472,829 474,763
Other current assets 111,343 114,063
Property, plant and equipment, net 1,250,786 1,167,287
Other assets 562,014 549,366
  $2,423,676 $2,323,229
     
Liabilities and Stockholders' Equity:    
Current portion of long-term debt $11,935 $8,253
Other current liabilities 360,500 362,160
Other noncurrent liabilities 226,347 206,238
Minority interest 145,398 134,339
Long-term debt 690,184 680,514
Deferred income taxes 12,880 14,266
Stockholders' equity 976,432 917,459
  $2,423,676 $2,323,229


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