PIH Health Consolidated

Transcription

1 PIH Health Consolidated Financial Statements March 31, 2016

2 PIH Health Consolidated Balance Sheet Mar16 vs Sep15 Line Description Mar 16 Balance Sep 15 Balance Inc (Dec) $$ Inc (Dec) % Assets Current Assets Cash 23,144,586 26,685,225 (3,540,639) (13.3%) ST Investments 3,013,590 2,943,073 70, % Patient Accounts Receivable 95,532,309 92,683,322 2,848, % Other Accounts Receivable 8,476,825 7,889, , % Inventory 8,065,746 8,367,055 (301,309) (3.6%) Prepaid Expenses & Other Assets 14,236,782 14,772,911 (536,128) (3.6%) Hospital Fee Receivable 45,612,647 40,020,549 5,592, % Total Current Assets 198,082, ,361,477 4,721, % Other Assets Investments in Mutual Funds and Other 32,307,823 32,833,745 (525,922) (1.6%) Invest-Funded Deprec & Assets Limited to Use 388,452, ,302,706 15,149, % Deferred Charges 3,867,461 3,972,629 (105,168) (2.6%) Prepaid IT 6,149,816 6,179,675 (29,860) (0.5%) Deposits & Other Assets 9,115,354 4,683,224 4,432, % Total Other Assets 439,892, ,971,980 18,920, % Property, Plant & Equipment Property, Plant & Equipment 884,399, ,635,869 15,763, % Accumulated Depreciation (259,893,562) (238,866,149) (21,027,412) 8.8% Property, Plant & Equipment - net 624,505, ,769,720 (5,264,108) (0.8%) Total Assets 1,262,480,952 1,244,103,176 18,377, % Liabilities and Fund Balance Current Liabilities Accounts Payable 29,000,272 43,550,356 (14,550,084) (33.4%) Other Accrued Liabilities 6,391,499 8,378,422 (1,986,923) (23.7%) Accrued Compensation 41,589,388 35,034,750 6,554, % IBNR & Cap Payable 9,643,761 7,896,160 1,747, % Current Portion - LT Debt 23,728,564 24,076,701 (348,137) (1.4%) ST Loan & Letter of Credit 49,000,000 39,000,000 10,000, % Hospital Fee Payable 32,614,259 27,198,413 5,415, % Total Current Liabilities 191,967, ,134,803 6,832, % 1 of 2 Report Generated On: 04/27/ :53 AM

3 PIH Health Consolidated Balance Sheet Mar16 vs Sep15 Line Description Mar 16 Balance Sep 15 Balance Inc (Dec) $$ Inc (Dec) % Affiliate Payable (Receivable) (2) (1) (1) 95.9% Long-Term Liabilities Self-Insurance Reserves 40,221,413 38,843,806 1,377, % Deferred Compensation Liabilities 13,241,783 13,980,612 (738,829) (5.3%) Bankruptcy Liability 7,599,724 8,964,306 (1,364,582) (15.2%) Bonds & Long Term Debt 380,702, ,126,070 (423,987) (0.1%) Pension Liability 62,400,728 64,907,621 (2,506,893) (3.9%) Interest Rate Swap 53,669,606 48,589,331 5,080, % Other Liability - non current 1,847,833 2,219,310 (371,477) (16.7%) Total Long Term Liabilities 559,683, ,631,056 1,052, % Total Liabilities 751,650, ,765,857 7,885, % Net Assets Fund Balance 499,924, ,552,915 15,371, % Net Income 10,905,222 15,784,403 (4,879,181) (30.9%) Total Net Assets 510,830, ,337,319 10,492, % Total Liabilities and Net Assets 1,262,480,952 1,244,103,176 18,377, % 2 of 2 Report Generated On: 04/27/ :53 AM

4 PIH Health Consol P&L Act vs PY FY16 Curr Mo Current Month: March Line Description ACTUAL Current Month ACTUAL Current Month Percent ACTUAL ACTUAL YTD Thru Current YTD Thru Current Month Month Percent Patient Revenue Inpatient 209,625, ,316,617 (2,691,252) -1.3% 1,184,183,303 1,206,346,391 (22,163,088) -1.8% Outpatient 194,111, ,172,608 2,938, % 1,093,560,523 1,047,126,685 46,433, % Capitation 8,999,616 7,054,655 1,944, % 44,366,487 42,305,823 2,060, % Home Health 1,947,857 1,799, , % 10,735,112 10,618, , % Other Operating Revenue 6,159,907 4,939,785 1,220, % 30,213,064 30,589,678 (376,615) -1.2% Hospital Fee Program-Payments 4,522,003 67,830,056 (63,308,053) -93.3% 27,132,018 67,830,056 (40,698,038) -60.0% Total Patient Revenue 425,366, ,113,695 (59,747,394) -12.3% 2,390,190,507 2,404,817,025 (14,626,518) -0.6% Deductions From Revenue Contractual Allowances 348,554, ,825, , % 1,952,919,804 1,926,795,878 (26,123,926) 0.8% Charity Care Deductions 765, ,421 (368,305) -92.7% 2,638,703 5,538,177 2,899, % Total Deductions 349,320, ,222,772 (97,339) 0.0% 1,955,558,507 1,932,334,055 (23,224,452) -1.2% Net Patient Revenue 76,046, ,890,922 (59,844,734) -44.0% 434,632, ,482,970 (37,850,970) -8.0% Operating Expenses S&W 25,492,272 23,732,996 (1,759,276) -7.4% 143,465, ,103,461 (9,361,880) -7.0% Employee Benefits 9,202,545 8,389,625 (812,921) -9.7% 53,035,705 54,419,657 1,383, % Bad Debt Expense 937,594 1,406, , % 6,128,232 8,222,389 2,094, % Supplies 9,495,153 8,749,483 (745,670) -8.5% 52,559,105 47,752,433 (4,806,673) -10.1% Professional Fees 8,651,012 9,173, , % 51,848,805 50,083,160 (1,765,645) -3.5% Purchased Services 6,148,590 5,265,191 (883,398) -16.8% 35,578,465 33,041,715 (2,536,750) -7.7% Claim & Capitation Expense 5,580,025 3,399,036 (2,180,989) -64.2% 21,285,013 20,138,375 (1,146,638) -5.7% Depreciation/Amortization 3,575,439 3,308,205 (267,234) -8.1% 21,153,959 20,207,380 (946,579) -4.7% Insurance 603, , , % 3,420,814 3,629, , % Interest Expense 1,005, ,209 (52,652) -5.5% 5,837,967 5,812,598 (25,369) -0.4% Rental/Lease Expense 246, ,397 21, % 1,478,572 1,577,507 98, % Management Services % 1 0 (1) 0.0% Other Expenses (59,675) 2,349,957 2,409, % 11,316,819 14,043,797 2,726, % Hospital Fee Program 3,569,747 53,546,202 49,976, % 21,418,482 53,546,202 32,127, % Total Operating Expenses 74,448, ,265,087 46,816, % 428,527, ,578,042 18,050, % Earnings From Operations 1,597,836 14,625,835 (13,027,999) -89.1% 6,104,718 25,904,927 (19,800,209) -76.4% Net Oper % 2.1% 10.8% -8.7% -80.5% 1.4% 5.5% -4.1% -74.4% Non-Operating Income/(Expense) Interest Income 364, ,926 (33,099) -8.3% 5,670,022 7,188,046 (1,518,024) -21.1% Gain/(Loss) on Sale (375,041) 1,154,269 (1,529,310) % 1,422,610 6,185,251 (4,762,641) -77.0% Market Value Adj 13,919,979 (2,423,137) 16,343, % 5,765,474 (295,648) 6,061, % Swap-Market Value Adj 1,001,873 (1,569,931) 2,571, % (5,080,275) (11,313,623) 6,233, % 1 of 2 Report Generated On: 04/27/ :55 AM

5 PIH Health Consol P&L Act vs PY FY16 Curr Mo Current Month: March Line Description ACTUAL Current Month ACTUAL Current Month Percent ACTUAL ACTUAL YTD Thru Current YTD Thru Current Month Month Percent Swap-Interest (535,742) (564,238) 28, % (3,290,767) (3,397,240) 106, % Asset Released from Restrictions % 426,400 17, , % Other Non-Operating (91,087) (13,609) (77,478) 569.3% (112,960) 187,230 (300,190) % Total Non-Operating Income/ (Expense) 14,284,810 (3,018,719) 17,303, % 4,800,504 (1,428,173) 6,228, % Net Income/(Loss) 15,882,646 11,607,116 4,275, % 10,905,222 24,476,754 (13,571,533) -55.4% 2 of 2 Report Generated On: 04/27/ :55 AM

6 PIH Health Consolidating P&L_Actual FY16 MTD Line Description Hosp - Whittier (100) PIH Health (101 & 111) Mgmt (102) Found (104) Physicians (110) Comm Pharm (114) Insur & RE (120/121) PIH Hlthcare Solutions (125) Downey (200,201,204) Others (112, 109) Gross Elim Net Month Number 6 - March Patient Revenue Inpatient 164,097, ,527, ,625, ,625,364 Outpatient 142,271, ,770, ,069, ,111, ,111,553 Capitation 2,239, ,691, , ,546,563 (546,947) 8,999,616 Home Health 1,947, ,947, ,947,857 Other Operating Revenue 4,775,009 1,389,477 69,550 23, , , , , ,128,678 (1,968,771) 6,159,907 Hospital Fee Program- Payments 2,915, ,606, ,522, ,522,003 Total Patient Revenue 318,247,039 1,389,477 69,550 23,942 19,093, , , ,928 87,386, ,882,018 (2,515,718) 425,366,300 Deductions From Revenue Contractual Allowances 267,091, ,044, ,417, ,554, ,554,385 Charity Care Deductions 708, , , ,726 Total Deductions 267,799, ,044, ,475, ,320, ,320,111 Net Patient Revenue 50,447,049 1,389,477 69,550 23,942 12,048, , , ,928 12,910, ,561,906 (2,515,718) 76,046,189 Operating Expenses S&W 16,638, , ,700 2,638,163 49, ,990, ,492, ,492,272 Employee Benefits 6,324,918 15, ,643 1,127,675 2, ,723, ,202, ,202,545 Bad Debt Expense 730, , , , ,594 Supplies 6,935,864 19, , , ,678, ,851,904 (356,751) 9,495,153 Professional Fees 3,213,204 87, ,178 4,979, ,154 1, , ,651, ,651,012 Purchased Services 4,996, , , , , ,275,526 (126,937) 6,148,590 Claim & Capitation Expense 2,832, ,253, , ,126,972 (546,947) 5,580,025 Depreciation/Amortization 2,366, , , , ,575, ,575,439 Insurance 410,838 1, , , , ,839 (356,820) 603,018 Interest Expense 524,905 31, , ,005, ,005,862 Rental/Lease Expense 471,846 14, , ,732 6, , ,265,296 (1,018,525) 246,771 Management Services 69, ,188 2, ,738 (109,738) 0 Other Expenses (137,684) 229,830 69,550 6,443 (544,303) 2,834 7,486 1, ,859 0 (59,675) 0 (59,675) Hospital Fee Program 2,143, ,426, ,569, ,569,747 Total Operating Expenses 47,521,335 1,186,695 69, ,812 13,547, , ,088 82,392 13,503, ,964,071 (2,515,718) 74,448,353 Earnings From Operations 2,925, ,782 0 (114,870) (1,499,255) 63,872 78, ,537 (592,925) 0 1,597, ,597,836 Net Oper % 5.8% 14.6% 0.0% % -12.4% 10.1% 18.6% 86.6% -4.6% 0.0% 2.0% 0.0% 2.1% Non-Operating Income/ (Expense) Interest Income 351,575 0 (5,599) 12, , , ,827 Gain/(Loss) on Sale (375,175) (375,041) 0 (375,041) Market Value Adj 13,815, , (41,157) ,919, ,919,979 Swap-Market Value Adj 1,001, ,001, ,001,873 1 of 2 Report Generated On: 04/27/ :56 AM

7 PIH Health Consolidating P&L_Actual FY16 MTD Line Description Hosp - Whittier (100) PIH Health (101 & 111) Mgmt (102) Found (104) Physicians (110) Comm Pharm (114) Insur & RE (120/121) PIH Hlthcare Solutions (125) Downey (200,201,204) Others (112, 109) Gross Elim Net Swap-Interest (535,742) (535,742) 0 (535,742) Other Non-Operating (155,000) 0 63,913 0 (91,087) 0 (91,087) Total Non-Operating Income/(Expense) 14,257,795 0 (5,599) 158, (189,740) , ,284, ,284,810 Net Income/(Loss) 17,183, ,782 (5,599) 43,212 (1,499,255) 63,872 (110,758) 533,895 (529,012) 0 15,882, ,882,646 2 of 2 Report Generated On: 04/27/ :56 AM

8 PIH Health Consolidating P&L_Actual FY16 YTD Line Description Hosp - Whittier (100) PIH Health (101 & 111) Mgmt (102) Found (104) Physicians (110) Comm Pharm (114) Insur & RE (120/121) PIH Hlthcare Solutions (125) Downey (200,201,204) Others (112, 109) Gross Elim Net Patient Revenue Inpatient 914,651, ,532, ,184,183,30 3 Outpatient 797,902, ,766, ,891, ,093,560, ,184,183, ,093,560,52 3 Capitation 3,899, ,038, ,647, ,585,046 (3,218,559) 44,366,487 Home Health 10,735, ,735, ,735,112 Other Operating Revenue 22,962,612 8,320, , ,789 2,502,372 3,800,929 2,486, ,053, ,708,149 (11,495,085) 30,213,064 Hospital Fee Program- Payments 17,493, ,638, ,132, ,132,018 Total Patient Revenue 1,767,643,925 8,320, , , ,308,225 3,800,929 2,486,410 3,647, ,115, ,404,904,15 1 Deductions From Revenue Contractual Allowances 1,478,130, ,453, ,336, ,952,919,80 4 (14,713,644) 2,390,190, ,952,919,80 4 Charity Care Deductions 2,359, , ,638, ,638,703 Total Deductions 1,480,489, ,453, ,615, ,955,558, ,955,558,50 7 Net Patient Revenue 287,154,349 8,320, , ,789 67,854,931 3,800,929 2,486,410 3,647,821 75,499, ,345,644 (14,713,644) 434,632,000 Net Revenue % 16.25% % % % 66.32% % % % 14.63% 0.00% 18.68% % 18.18% Net Revenue % (excl Hosp Fee) Operating Expenses 15.41% % % % 66.32% % % % 13.00% 0.00% 17.76% % 17.24% S&W 94,424, , ,002 14,619, , ,175, ,465, ,465,341 Employee Benefits 36,323, , ,474 6,302,168 46, ,176,986 13,029 53,035, ,035,705 Bad Debt Expense 5,023, , , ,128, ,128,232 Supplies 37,524,619 95, ,978 4,622,897 3,005, ,593, ,844,493 (2,285,388) 52,559,105 Professional Fees 19,022, , ,655 30,515, ,832 20,222 1,643, ,848, ,848,805 Purchased Services 27,469, , ,913 1,157, ,750 1,613,804 4,752, ,955,402 (376,937) 35,578,465 Claim & Capitation Expense 3,292, ,150, ,060, ,503,572 (3,218,559) 21,285,013 Depreciation/Amortization 14,119,770 2,908, ,666,770 6, ,451, ,153, ,153,959 Insurance 2,255,819 8, , ,788, , ,519,144 (2,098,330) 3,420,814 Interest Expense 2,931, , ,713, ,837, ,837,967 Rental/Lease Expense 2,765,152 82, ,059 4,428,044 36, , ,589,721 (6,111,149) 1,478,572 Management Services 385, ,115 12, ,282 (623,281) 1 Other Expenses 10,390,100 1,348, ,166 33,600 (2,428,141) 32,256 9,044 15,435 1,531, ,316, ,316,819 Hospital Fee Program 12,860, ,557, ,418, ,418,482 Total Operating Expenses 268,788,775 6,652, , ,386 81,600,016 3,387,535 2,028,564 3,936,733 75,868,945 13, ,240,926 (14,713,644) 428,527,282 Earnings From Operations 18,365,574 1,667,753 1 (383,597) (13,745,086) 413, ,846 (288,912) (369,225) (13,029) 6,104, ,104,718 Net Oper % 6.4% 20.0% 0.0% % -20.3% 10.9% 18.4% -7.9% -0.5% 0.0% % 0.0% % 1 of 2 Report Generated On: 04/27/ :57 AM

9 PIH Health Consolidating P&L_Actual FY16 YTD Line Description Hosp - Whittier (100) PIH Health (101 & 111) Mgmt (102) Found (104) Physicians (110) Comm Pharm (114) Insur & RE (120/121) PIH Hlthcare Solutions (125) Downey (200,201,204) Others (112, 109) Gross Elim Net Non-Operating Income/ (Expense) Interest Income 5,563,466 0 (36,409) 71, ,230 1, ,670, ,670,022 Gain/(Loss) on Sale 1,460, (38,325) 0 0 (42) ,422, ,422,610 Market Value Adj 5,822, , (157,398) ,765, ,765,474 Swap-Market Value Adj (5,080,275) (5,080,275) 0 (5,080,275) Swap-Interest (3,290,767) (3,290,767) 0 (3,290,767) Asset Released from Restrictions 426, , ,400 Other Non-Operating (155,000) 0 42,040 0 (112,960) 0 (112,960) Total Non-Operating Income/(Expense) 4,901,998 0 (36,409) 133, (242,210) 1,611 42, ,800, ,800,504 Net Income/(Loss) 23,267,572 1,667,753 (36,407) (250,125) (13,745,086) 413, ,636 (287,301) (327,184) (13,029) 10,905, ,905,222 2 of 2 Report Generated On: 04/27/ :57 AM

10 PIH Health Consolidated Monthly P&L Actual FY16 Line Description October November December January February March April May June July August September Total Year ACTUAL2016 Patient Revenue Inpatient 189,346, ,999, ,878, ,981, ,350, ,625, ,184,183,303 Outpatient 186,950, ,691, ,950, ,402, ,454, ,111, ,093,560,523 Capitation 7,164,461 7,104,041 7,072,070 6,927,208 7,099,091 8,999, ,366,487 Home Health 1,716,026 1,658,315 1,834,779 1,813,428 1,764,706 1,947, ,735,112 Other Operating Revenue 4,726,773 4,670,535 4,206,416 5,373,850 5,075,582 6,159, ,213,064 Hospital Fee Program- Payments 4,522,003 4,522,003 4,522,003 4,522,003 4,522,003 4,522, ,132,018 Total Patient Revenue 394,426, ,646, ,464, ,020, ,266, ,366, ,390,190,507 Deductions From Revenue Contractual Allowances 321,360, ,454, ,649, ,400, ,500, ,554, ,952,919,804 Charity Care Deductions 342, , , , , , ,638,703 Total Deductions 321,702, ,771, ,868, ,011, ,884, ,320, ,955,558,507 Net Patient Revenue 72,723,440 69,874,450 71,596,558 72,009,025 72,382,337 76,046, ,632,000 Net Revenue % 18.44% 18.70% 17.92% 17.78% 18.45% 17.88% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18.18% Net Revenue % (excl Hosp Fee) Operating Expenses 17.49% 17.70% 16.98% 16.85% 17.50% 17.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17.24% S&W 24,634,696 22,607,109 23,506,784 24,482,039 22,742,441 25,492, ,465,341 Employee Benefits 8,898,009 8,738,271 8,187,362 9,188,886 8,820,632 9,202, ,035,705 Bad Debt Expense 1,231, ,006 1,303,384 1,208, , , ,128,232 Supplies 8,575,153 8,182,775 9,001,593 9,027,000 8,277,431 9,495, ,559,105 Professional Fees 8,998,344 7,750,249 8,598,907 9,004,055 8,846,237 8,651, ,848,805 Purchased Services 5,540,211 5,433,630 5,813,819 6,656,831 5,985,384 6,148, ,578,465 Claim & Capitation Expense Depreciation/Amortizatio n 3,817,817 3,652,624 3,449,153 1,144,367 3,641,027 5,580, ,285,013 3,296,446 3,625,150 3,522,392 3,540,599 3,593,933 3,575, ,153,959 Insurance 621, , , , , , ,420,814 Interest Expense 962, , , , ,997 1,005, ,837,967 Rental/Lease Expense 241, , , , , , ,478,572 Management Services Other Expenses 2,700,438 2,240,774 1,981,331 2,266,025 2,187,926 (59,675) ,316,819 Hospital Fee Program 3,569,747 3,569,747 3,569,747 3,569,747 3,569,747 3,569, ,418,482 Total Operating Expenses 73,088,939 68,541,420 70,760,143 71,795,292 69,893,135 74,448, ,527,282 Earnings From Operations (365,499) 1,333, , ,733 2,489,202 1,597, ,104,718 Net Oper % -0.5% 1.9% 1.2% 0.3% 3.4% 2.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 1.4% Non-Operating Income/ (Expense) Interest Income 413, ,459 3,033, , , , ,670,022 Gain/(Loss) on Sale 571,174 1,373, ,246 9,020 (477,071) (375,041) ,422,610 Market Value Adj 13,935,099 (914,411) (8,218,794) (10,747,405) (2,208,993) 13,919, ,765,474 1 of 2 Report Generated On: 04/27/ :59 AM

11 PIH Health Consolidated Monthly P&L Actual FY16 Line Description October November December January February March April May June July August September Total Swap-Market Value Adj 856,651 53,604 1,677,558 (5,783,225) (2,886,736) 1,001, (5,080,275) Swap-Interest (560,905) (563,129) (550,091) (539,933) (540,967) (535,742) (3,290,767) Asset Released from Restrictions , ,400 Other Non-Operating (11,926) (11,926) 63,071 (50,008) (11,084) (91,087) (112,960) Total Non-Operating Income/(Expense) 15,203, ,878 (3,247,411) (16,299,687) (5,677,218) 14,284, ,800,504 Net Income/(Loss) 14,837,632 1,869,908 (2,410,995) (16,085,954) (3,188,016) 15,882, ,905,222 2 of 2 Report Generated On: 04/27/ :59 AM

12 PIH Health Consolidating Bal Sheet FY16 Line Description PIH Whittier (100) PIH Health (101,111) Mgmt (102) Found (104) Physicians (110) Comm Pharm (114) Insurance & RE (120/121) care Solutions (125) PIH Downey (200,201,204) Others (112, 109) Gross Elimination Net Assets Current Assets Cash 2,403, ,106 9,087, , , ,927, ,654 3,071, ,144, ,144,586 ST Investments ,008,817 2,004, ,013, ,013,590 Patient Accounts Receivable 72,423, ,841, ,267, ,532, ,532,309 Other Accounts Receivable 4,985, , , , ,818 51, ,000 1,170, ,476, ,476,825 Inventory 4,813, , , ,442, ,065, ,065,746 Prepaid Expenses & Other Assets 5,103, , ,499, ,454, ,080, ,288,017 (5,051,235) 14,236,782 Hospital Fee Receivable 29,904, ,707, ,612, ,612,647 Total Current Assets 119,634, ,466 9,087, ,391 9,670, ,283 14,442,127 3,520,427 44,740, ,133,720 (5,051,235) 198,082,485 Other Assets Investments in Mutual Funds and Other Invest-Funded Deprec & Assets Limited to Use 17,464, ,384, ,458, ,307, ,307, ,882, , , , ,452, ,452,402 Deferred Charges 3,867, ,867, ,867,461 Prepaid IT 6,149, ,149, ,149,816 Deposits & Other Assets 1,569,776 1,051, ,094 16, ,755, ,681,254 (1,565,900) 9,115,354 Total Other Assets 415,933,852 1,489, ,672,420 16, ,458, ,673 8,586, ,458,756 (1,565,900) 439,892,856 Property, Plant & Equipment Property, Plant & Equipment 579,816, ,275, ,715 31,143, , ,986, ,399, ,399,173 Accumulated Depreciation (198,064,823) (32,449,628) 0 (6,718) (15,379,896) (89,834) 0 0 (13,902,663) 0 (259,893,562) 0 (259,893,562) Property, Plant & Equipment - net 381,751, ,825, ,998 15,763,601 75, ,083, ,505, ,505,611 Total Assets 917,319, ,237,649 9,087,299 3,973,809 25,450, ,039 25,900,997 3,821, ,410, ,269,098,087 (6,617,135) 1,262,480,952 Liabilities and Fund Balance Current Liabilities Accounts Payable 19,596, ,202 69,754 49,397 2,192, ,481 56,630 34,927 6,676, ,000, ,000,272 Other Accrued Liabilities 3,837, , ,901 2,448, ,044,663 5, , ,442,734 (5,051,235) 6,391,499 Accrued Compensation 28,847, ,802 4,768, ,921, ,589, ,589,388 IBNR & Cap Payable 3,844, ,799, ,643, ,643,761 Current Portion - LT Debt 9,851, , ,758, ,728, ,728,564 ST Loan & Letter of Credit 49,000, ,000, ,000,000 Hospital Fee Payable 19,565, ,049, ,614, ,614,259 Total Current Liabilities 134,542, ,331 69, ,100 15,209, ,481 4,101,293 39,927 42,230, ,018,978 (5,051,235) 191,967,743 Affiliate Payable (Receivable) (271,483,372) 107,600,781 9,070,287 (3,135,636) 6,533, ,008 2,733, ,027,127 2,764,016 (2) 0 (2) Long-Term Liabilities Self-Insurance Reserves 16,302, ,789, ,302, ,827, ,221, ,221,413 1 of 2 Report Generated On: 04/27/ :57 AM

13 PIH Health Consolidating Bal Sheet FY16 Line Description PIH Whittier (100) PIH Health (101,111) Mgmt (102) Found (104) Physicians (110) Comm Pharm (114) Insurance & RE (120/121) care Solutions (125) PIH Downey (200,201,204) Others (112, 109) Gross Elimination Net Deferred Compensation Liabilities 13,241, ,241, ,241,783 Bankruptcy Liability ,599, ,599, ,599,724 Bonds & Long Term Debt 374,144,399 6,557, ,702, ,702,083 Pension Liability 62,400, ,400, ,400,728 Interest Rate Swap 53,669, ,669, ,669,606 Other Liability - non current 1,221, , , ,847, ,847,833 Total Long Term Liabilities 520,979,712 6,984, ,789, ,302, ,626, ,683, ,683,170 Total Liabilities 384,038, ,914,479 9,140,041 (2,862,537) 24,532,917 1,111,489 16,137,780 40, ,884,380 2,764, ,702,146 (5,051,235) 751,650,911 Net Assets Fund Balance 510,013,401 18,655,417 (16,334) 7,086,470 14,662,889 (628,843) 9,547,582 4,067,645 (59,146,522) (2,750,987) 501,490,719 (1,565,900) 499,924,819 Net Income 23,267,572 1,667,753 (36,407) (250,125) (13,745,086) 413, ,636 (287,301) (327,184) (13,029) 10,905, ,905,222 Total Net Assets 533,280,973 20,323,170 (52,742) 6,836, ,804 (215,450) 9,763,218 3,780,345 (59,473,706) (2,764,016) 512,395,940 (1,565,900) 510,830,040 Total Liabilities and Net Assets 917,319, ,237,649 9,087,299 3,973,809 25,450, ,039 25,900,997 3,821, ,410, ,269,098,087 (6,617,135) 1,262,480,952 2 of 2 Report Generated On: 04/27/ :57 AM

14 PIH Health Consolidated Statement of Cash Flows Fiscal Year to Date Ended March 31, 2016 Period Ended Mar 16 CASH FLOWS FROM OPERATING ACTIVITIES: Net earnings (loss) $ 10,905,222 Fund balance transfer equity (412,500) 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 21,153,959 Net (gain)/loss on investments (7,188,084) Provision for Bad Debt 6,128,232 Amortization of Deferred Financing costs 105,168 Accretion of Bond Premium (48,066) Amortization of Bond Discount 11,786 Market Value Adjustment on Swap 5,080,275 Changes in assets and liabilities: Patient accounts receivable, net (8,977,219) Other receivables (587,482) Inventory 301,309 Prepaid expenses and other assets 536,128 Prepaid IT projects 29,860 Deposits and other assets (4,802,286) Hospital Fee Receivable (5,592,098) Accounts payable and accrued expenses (16,537,008) Accrued compensation and related liabilities 6,554,638 Retention - self-insurance programs 1,377,607 Estimated Third Party, IBNR, and Cap Payable 1,747,601 Hospital Fee Payable 5,415,846 Deferred Comp (738,829) Pension liability (2,506,893) Prepetition liability (net) (80,965) Net cash provided by operating activities 11,876,201 CASH FLOWS FROM (USED IN) FROM INVESTING ACTIVITIES: Decrease (increase) in Swap Collateral (2,400,000) Sale (purchase) of investments, net (6,528,817) Capital expenditures (15,778,004) Realized gains/losses 1,422,610 Net cash from (used in) investing activities (23,284,211) CASH FLOWS FROM (USED IN) FROM FINANCING ACTIVITIES: Due (to) from affiliates, net (1) Payment of Downey's prepetition liabilities (1,025,307) Payment Other LT debt (i.e. mortgage, capital leases) (1,107,321) Draw from Line of Credit 20,000,000 Pay down Line of Credit (10,000,000) Net cash from (used in) financing activities 7,867,371 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (3,540,639) CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 26,685,225 CASH AND CASH EQUIVALENTS, END OF YEAR $ 23,144,586