Universal Health Services, Inc. Consolidated Statements of Income September 2003 (in thousands, except per share amounts) (unaudited)
| |
Three months ended September 30 |
Nine months ended September 30 |
| 2003 |
2002 |
2003 |
2002 |
| Net revenues |
$896,332 |
$813,104 |
$2,694,094 |
$2,423,420 |
| Operating charges: |
|
|
|
|
| Salaries, wages and benefits |
362,440 |
323,331 |
1,075,670 |
964,633 |
| Other operating expenses |
213,424 |
196,007 |
628,950 |
586,199 |
| Supplies expense |
119,897 |
106,382 |
362,190 |
313,747 |
| Provision for doubtful accounts |
62,288 |
62,590 |
189,410 |
173,329 |
| Depreciation and amortization |
35,799 |
30,136 |
105,849 |
90,444 |
| Lease and rental expense |
15,994 |
15,609 |
47,676 |
46,089 |
| Interest expense, net |
8,615 |
8,636 |
27,839 |
25,768 |
| |
818,457 |
742,691 |
2,437,584 |
2,200,209 |
| Income before gains on sales of assets and businesses, minority interests, and income taxes |
77,875 |
70,413 |
256,510 |
223,211 |
| Gains on sales of assets and businesses |
(7,837) |
0 |
(7,837) |
0 |
| Minority interests in earnings of consolidated entities |
7,476 |
4,924 |
21,036 |
15,485 |
| Income before income taxes |
78,236 |
65,489 |
243,311 |
207,726 |
| Provision for income taxes |
29,175 |
24,038 |
90,510 |
76,255 |
| Net income |
$49,061 |
$41,451 |
$152,801 |
$131,471 |
| |
| Earnings per common share - basic |
$0.86 |
$0.69 |
$2.65 |
$2.20 |
| Earnings per common share - diluted |
$0.79 |
$0.65 |
$2.45 |
$2.05 |
| |
| EARNINGS PER SHARE CALCULATION |
|
|
|
|
| Net income |
$49,061 |
$41,451 |
$152,801 |
$131,471 |
| Add: Debenture interest, net of taxes |
2,222 |
2,134 |
6,577 |
6,317 |
| Adjusted net income |
$51,283 |
$43,585 |
$159,378 |
$137,788 |
| Weighted average number of common shares - basic |
57,354 |
59,883 |
57,762 |
59,893 |
| Add: Shares for conversion of convertible debentures |
6,577 |
6,577 |
6,577 |
6,577 |
| Other share equivalents |
909 |
715 |
787 |
689 |
| Weighted average number of common shares and equiv. - diluted |
64,840 |
67,175 |
65,126 |
67,159 |
| Earnings per common share - diluted |
$0.79 |
$0.65 |
$2.45 |
$2.05 |
|