Universal Health Services, Inc. Consolidated Statements of Income December 2001 (in thousands, except per share amounts) (unaudited)
| |
Three months ended December 31, |
Twelve months ended December 31, |
| |
2001 |
2000 |
2001 |
2000 |
| Net revenues |
$724,162 |
$614,822 |
$2,840,491 |
$2,242,444 |
| Operating charges: |
| Salaries, wages and benefits |
289,643 |
240,845 |
1,122,428 |
873,747 |
| Other operating expenses |
179,286 |
145,415 |
668,026 |
515,084 |
| Supplies expense |
91,469 |
80,368 |
368,091 |
301,663 |
| Provision for doubtful accounts |
53,438 |
56,541 |
240,025 |
192,625 |
| Depreciation and amortization |
32,893 |
28,531 |
127,523 |
112,809 |
| Lease and rental expense |
13,951 |
12,688 |
53,945 |
49,039 |
| Interest expense, net |
7,368 |
8,427 |
36,176 |
29,941 |
| Nonrecurring charges |
40,000 |
7,747 |
40,000 |
7,747 |
| |
708,048 |
580,562 |
2,656,214 |
2,082,655 |
| Income before minority interests and income taxes |
16,114 |
34,260 |
184,277 |
159,789 |
| Minority interests in earnings of consolidated entities |
6,194 |
3,995 |
17,518 |
13,681 |
| Losses on foreign exchange and derivative transactions |
7,353 |
0 |
8,862 |
0 |
| Income before income taxes |
2,567 |
30,265 |
157,897 |
146,108 |
| Provision for income taxes |
632 |
11,176 |
57,147 |
52,746 |
| Net income before extraordinary charge |
$1,935 |
$19,089 |
$100,750 |
$93,362 |
| Extraordinary charge from early extinguishment of debt, net of taxes |
$1,008 |
$0 |
$1,008 |
$0 |
| Net income |
$927 |
$19,089 |
$99,742 |
$93,362 |
| Earnings per common share - basic |
$0.02 |
$0.32 |
$1.67 |
$1.55 |
| Earnings per common share - diluted |
$0.02 |
$0.31 |
$1.60 |
$1.50 |
| Weighted average number of common shares - basic |
59,829 |
59,674 |
59,874 |
60,220 |
| Weighted average number of common share equivalents |
688 |
7,492 |
7,346 |
4,600 |
| Weighted average number of common shares and equiv. - diluted |
60,517 |
67,166 |
67,220 |
64,820 |
| EARNINGS PER SHARE CALCULATION |
| Net income |
$927 |
$19,089 |
$99,742 |
$93,362 |
| Add: Debenture interest, net of taxes |
0 |
1,844 |
8,120 |
4,092 |
| Adjusted net income |
$927 |
$20,973 |
$107,862 |
$97,454 |
| Weighted average number of common shares - basic |
59,829 |
59,674 |
59,874 |
60,220 |
| Add: Shares for conversion of convertible debentures |
0 |
6,577 |
6,577 |
3,504 |
| Other share equivalents |
688 |
913 |
769 |
1,096 |
| Weighted average number of common shares and equiv. - diluted |
60,517 |
67,164 |
67,220 |
64,820 |
| Earnings per common share - diluted |
$0.02 |
$0.31 |
$1.60 |
$1.50 |
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