PIH Health Consolidated. Financial Statements

Transcription

1 PIH Health Consolidated Financial Statements December 31, 2016

2 PIH Health Consolidated Balance Sheet Dec16 Dec 16 Balance Assets Current Assets Cash 18,901,772 ST Investments 3,249,127 Patient Accounts Receivable 98,813,962 Other Accounts Receivable 9,758,035 Inventory 7,821,341 Prepaid Expenses & Other Assets 7,005,460 Hospital Fee Receivable 57,369,254 Total Current Assets 202,918,951 Other Assets Investments in Mutual Funds and Other 36,618,278 Invest-Funded Deprec & Assets Limited to Use 402,085,949 Deferred Charges 3,717,308 Prepaid IT 5,398,117 Deposits & Other Assets 3,858,851 Total Other Assets 451,678,503 Property, Plant & Equipment Property, Plant & Equipment 915,006,799 Accumulated Depreciation (283,339,153) Property, Plant & Equipment - net 631,667,646 Total Assets 1,286,265,100 Liabilities and Fund Balance Current Liabilities Accounts Payable 39,175,505 Other Accrued Liabilities 5,150,268 Accrued Compensation 34,857,266 IBNR & Cap Payable 8,588,663 Current Portion - LT Debt 10,363,875 ST Loan & Letter of Credit 53,000,000 Hospital Fee Payable 31,176,285 Total Current Liabilities 182,311,862 Affiliate Payable (Receivable) 0 Long-Term Liabilities Self-Insurance Reserves 38,033,707 Deferred Compensation Liabilities 14,310,113 Bankruptcy Liability 5,756,263 Bonds & Long Term Debt 390,989,886 Pension Liability 85,083,202 Interest Rate Swap 40,941,491 Other Liability - non current 1,372,064 Total Long Term Liabilities 576,486,724 Total Liabilities 758,798,586 Net Assets 1 of 2 Report Generated On: 02/14/

3 PIH Health Consolidated Balance Sheet Dec16 Dec 16 Balance Fund Balance 517,702,028 Net Income 9,764,485 Total Net Assets 527,466,514 Total Liabilities and Net Assets 1,286,265,100 2 of 2 Report Generated On: 02/14/

4 PIH Health Consol P&L Actual Dec 16 ACTUAL YTD Thru December Patient Revenue Inpatient 549,617,219 Outpatient 557,587,929 Capitation 25,922,638 Home Health 6,186,928 Other Operating Revenue 8,961,022 Hospital Fee Program-Payments 13,566,009 Total Patient Revenue 1,161,841,745 Deductions From Revenue Contractual Allowances 947,423,110 Charity Care Deductions 709,193 Total Deductions 948,132,302 Net Patient Revenue 213,709,442 Net Revenue % 18.39% Net Revenue % (excl Hosp Fee) 17.43% Operating Expenses S&W 69,650,984 Employee Benefits 27,320,050 Bad Debt Expense 3,383,373 Supplies 24,239,590 Professional Fees 26,622,505 Purchased Services 16,966,490 Claim & Capitation Expense 10,994,065 Depreciation/Amortization 9,104,673 Insurance 2,215,058 Interest Expense 2,936,108 Rental/Lease Expense 687,052 Other Expenses 7,047,852 Hospital Fee Program 10,709,241 Total Operating Expenses 211,877,043 Earnings From Operations 1,832,400 Net Oper % 0.9% Non-Operating Income/(Expense) Interest Income 3,907,728 Gain/(Loss) on Sale (370,235) Market Value Adj (8,696,603) Swap-Market Value Adj 14,605,237 Swap-Interest (1,563,197) Other Non-Operating 49,155 Total Non-Operating Income/ (Expense) 7,932,085 Net Income/(Loss) 9,764,485 1 of 1 Report Generated O

5 PIH Health Consolidated Statement of Cash Flows Fiscal Year to Date Ended December 31, 2016 Period Ended Dec 16 CASH FLOWS FROM OPERATING ACTIVITIES: Net earnings (loss) $ 9,764,485 Fund balance transfer equity 978,509 Fund Adj for Pension Valuation Adjustments to reconcile change in net assets to net cash provided by operating activities and nonoperating gains and losses: Depreciation and amortization 9,149,850 Net (gain)/loss on investments 9,066,838 Provision for Bad Debt 3,383,373 Amortization of Deferred Financing costs 48,667 Accretion of Bond Premium (22,359) Amortization of Bond Discount 6,009 Market Value Adjustment on Swap (14,605,237) Changes in assets and liabilities: Patient accounts receivable, net (9,871,007) Other receivables (1,780,272) Inventory (269,082) Prepaid expenses and other assets (234,057) Prepaid IT projects 372,606 Deposits and other assets (194,907) Hospital Fee Receivable (3,619,865) Accounts payable and accrued expenses 984,494 Accrued compensation and related liabilities (1,820,422) Retention - self-insurance programs 896,304 Estimated Third Party, IBNR, and Cap Payable 100,625 Hospital Fee Payable (6,859,041) Deferred Comp (40,429) Pension liability 340,986 Prepetition liability (net) (49,320) Net cash provided by operating activities (4,273,252) CASH FLOWS FROM (USED IN) FROM INVESTING ACTIVITIES: Decrease (increase) in Swap Collateral 4,400,000 Sale (purchase) of investments, net (2,831,470) Capital expenditures (8,738,638) Realized gains/losses (370,235) Net cash from (used in) investing activities (7,540,343) CASH FLOWS FROM (USED IN) FROM FINANCING ACTIVITIES: Payment of Downey's prepetition liabilities (438,575) Payment Other LT debt (i.e. capital leases) (527,432) Net cash from (used in) financing activities (966,007) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (12,779,602) CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 31,681,374 CASH AND CASH EQUIVALENTS, END OF YEAR $ 18,901,772