Universal Health Services, Inc. Consolidated Statements of Income September 2002 (in thousands, except per share amounts) (unaudited)
| |
Three months ended September 30 |
Nine months ended September 30 |
| 2002 |
2001 |
2002 |
2001 |
| Net revenues |
$813,104 |
$720,784 |
$2,423,420 |
$2,116,329 |
| Operating charges: |
|
|
|
|
| Salaries, wages and benefits |
323,331 |
282,225 |
964,633 |
832,785 |
| Other operating expenses |
196,007 |
167,958 |
586,199 |
488,740 |
| Supplies expense |
106,382 |
94,275 |
313,747 |
276,622 |
| Provision for doubtful accounts |
62,590 |
68,682 |
173,329 |
186,587 |
| Depreciation and amortization |
30,136 |
32,587 |
90,444 |
94,630 |
| Lease and rental expense |
15,609 |
13,884 |
46,089 |
39,994 |
| Interest expense, net |
8,381 |
9,846 |
25,498 |
28,808 |
| |
742,436 |
669,457 |
2,199,939 |
1,948,166 |
| Income before minority interests, effect of foreign exchange and derivative transactions and income taxes |
70,668 |
51,327 |
223,481 |
168,163 |
| Minority interests in earnings of consolidated entities |
4,924 |
3,700 |
15,485 |
11,324 |
| Losses on foreign exchange and derivative transactions |
255 |
108 |
270 |
1,509 |
| Income before income taxes |
65,489 |
47,519 |
207,726 |
155,330 |
| Provision for income taxes |
24,038 |
17,265 |
76,255 |
56,515 |
| Net income |
$41,451 |
$30,254 |
$131,471 |
$98,815 |
| Earnings per common share - basic |
$0.69 |
$0.50 |
$2.20 |
$1.65 |
| Earnings per common share - diluted |
$0.65 |
$0.48 |
$2.05 |
$1.56 |
| Weighted average number of common shares - basic |
59,883 |
59,921 |
59,893 |
59,889 |
| Weighted average number of common share equivalents |
7,292 |
7,496 |
7,266 |
7,373 |
| Weighted average number of common shares and equiv. - diluted |
67,175 |
67,417 |
67,159 |
67,262 |
| |
| EARNINGS PER SHARE CALCULATION |
| Net income |
$41,451 |
$30,254 |
$131,471 |
$98,815 |
| Add: Debenture interest, net of taxes |
2,134 |
2,051 |
6,317 |
6,070 |
| Adjusted net income |
$43,585 |
$32,305 |
$137,788 |
$104,885 |
| Weighted average number of common shares - basic |
59,883 |
59,921 |
59,893 |
59,889 |
| Add: Shares for conversion of convertible debentures |
6,578 |
6,578 |
6,578 |
6,578 |
| Other share equivalents |
714 |
918 |
688 |
795 |
| Weighted average number of common shares and equiv. - diluted |
67,175 |
67,417 |
67,159 |
67,262 |
| Earnings per common share - diluted |
$0.65 |
$0.48 |
$2.05 |
$1.56 |
|