Finances

GREENVILLE HEALTH SYSTEM, GHS PARTNERS IN HEALTH, INC. AND THE ENDOWMENT FUND OF THE GREENVILLE HOSPITAL SYSTEM, INC.
COMBINED STATEMENT OF NET POSITION
September 30, 2014
(In Thousands)
 
ASSETS AND DEFERRED OUTFLOWS OF RESOURCES
CURRENT ASSETS:

Cash and cash equivalents

$

191,065

Patient accounts receivable, net

215,472

Inventories of drugs and supplies

25,877

Estimated third-party payor settlements

14,075

Other current assets

22,912

Current portion of assets with limited use

27,195

Total current assets

496,596
 
ASSETS WITH LIMITED USE:

Internally designated

522,528

Held by trustee for capital acquisition

68,016

Held by trustee for debt service

235

Donor restricted

22,654

Less current portion

(27,195)

Assets with limited use, net

586,238
 
OTHER INVESTMENTS 119,411
 
CAPITAL ASSETS-Net 749,758
 
OTHER ASSETS 4,925

TOTAL ASSETS

1,956,928
 
DEFERRED OUTFLOWS OF RESOURCES:

Excess consideration provided for acquisition

8,752

Loss on refunding of debt, net

6,933

TOTAL DEFERRED OUTFLOWS OF RESOURCES

15,685
 
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES
$

1,972,613

 
 
LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION
CURRENT LIABILITIES:

Accounts payable

$

29,507

Accrued liabilities

200,526

Current portion of obligations under capital leases

962

Current portion of long-term debt

15,984

Total current liabilities

246,979
 
LONG-TERM DEBT-Less current portion 581,094
 
OBLIGATIONS UNDER CAPTIAL LEASES-Less current portion 4,184
 
OTHER LONG-TERM LIABILITIES 32,505

TOTAL LIABILITIES

864,762
 
DEFERRED INFLOWS OF RESOURCES:

Deferred gain on real estate monetization

45,634

TOTAL LIABILITIES AND DEFERRED INFLOWS OF RESOURCES

910,396
 
NET POSITION:

Unrestricted

816,845

Net investment in capital assets

222,483

Restricted:

  For debt service

235

  For specific operating purposes

22,654

TOTAL NET POSITION

1,062,217
 
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION
$

1,972,613

 
 
GREENVILLE HEALTH SYSTEM, GHS PARTNERS IN HEALTH, INC. AND THE ENDOWMENT FUND OF THE GREENVILLE HOSPITAL SYSTEM, INC.
COMBINED STATEMENT OF REVENUES AND EXPENSES
For the year ended September 30, 2014
(In Thousands)
 
Patient Service Revenues

Inpatient

$

2,002,455

Outpatient

2,989,383

Total Patient Service Revenues

4,991,838
 
Adjustments to Revenues

Bad Debt

202,426

Charity

265,228

Contractual Allowances

2,798,081

Total Adjustments to Revenues

3,265,735
 
Net Patient Services Revenues 1,726,103
 
Other Operating Revenues 75,619
 
Total Operating Revenues 1,801,722
 
Operating Expenses

Salaries and Wages

846,782

Temporary and Contract Labor

17,983

Employee Benefits

207,604

Supplies

280,729

Professional Fees

43,373

Other Purchased Services

207,614

Other Expenses

41,332

Depreciation

80,065

Interest

14,396

Amortization

728

Total Operating Expenses

1,740,606
 

Operating Income

61,116
 
Non-operating Gains (Losses)

Investment Income

20,476

Other non-operating

(11,528)

Net non-operating gains (losses)

8,948
 
Excess Revenues Over Expenses
$

70,064