PIH Health Consolidated

Transcription

1 PIH Health Consolidated Financial Statements March 31,

2 PIH Health Consolidated Balance Sheet Mar15 vs Sep14 Line Description Mar 15 Balance Sep 14 Balance Inc (Dec) $$ Inc (Dec) % Assets Current Assets Cash 14,487,739 9,276,835 5,210, % ST Investments 2,498,627 4,342,323 (1,843,697) (42.5%) Patient Accounts Receivable 99,401,434 91,031,052 8,370, % Other Accounts Receivable 9,691,105 12,192,641 (2,501,537) (20.5%) Inventory 8,618,464 7,461,602 1,156, % Prepaid Expenses 8,350,477 5,256,658 3,093, % Hospital Fee Receivable 58,545,408 1,066,861 57,478, % Total Current Assets 201,593, ,627,972 70,965, % Other Assets Deferred Compensation Investments 18,802,273 36,670,803 (17,868,530) (48.7%) Deferred Charges 4,763,320 5,015,310 (251,991) (5.0%) Prepaid IT 7,244,514 5,354,825 1,889, % Deposits & Other Assets 13,841,918 13,233, , % Restricted Trustee-Held Investments 8,404,852 10,850,569 (2,445,718) (22.5%) Investments-Funded Depreciation 402,628, ,809,105 25,819, % Total Other Assets 455,685, ,934,487 7,751, % Property, Plant & Equipment Property, Plant & Equipment 838,774, ,639,432 20,135, % Accumulated Depreciation (220,469,233) (200,734,391) (19,734,842) 9.8% Property, Plant & Equipment - net 618,305, ,905, , % Total Assets 1,275,584,316 1,196,467,500 79,116, % Liabilities and Fund Balance Current Liabilities Accounts Payable 30,134,854 41,381,731 (11,246,877) (27.2%) Other Accrued Liabilities 7,798,570 5,195,121 2,603, % Accrued Compensation 30,067,970 24,975,576 5,092, % Third Party Liability 9,580,247 6,541,187 3,039, % Current Portion - LT Debt 9,922,159 10,018,246 (96,086) (1.0%) ST Loan & Letter of Credit 49,000,000 40,000,000 9,000, % Hospital Fee Payable 38,026,044 2,372,608 35,653, % Total Current Liabilities 174,529, ,484,468 44,045, % 1 of 2 Report Generated On: Thursday, April 23, :37:27 AM 2

3 PIH Health Consolidated Balance Sheet Mar15 vs Sep14 Line Description Mar 15 Balance Sep 14 Balance Inc (Dec) $$ Inc (Dec) % Affiliate Payable (Receivable) (27.7%) Long-Term Liabilities Self-Insurance Reserves 42,995,046 42,330, , % Deferred Compensation Liabilities 13,914,256 14,837,869 (923,613) (6.2%) Bankruptcy Liability 10,170,631 11,293,217 (1,122,586) (9.9%) Bonds & Long Term Debt 404,273, ,433,840 (160,044) 0.0% Pension Liability 59,098,442 58,170, , % Interest Rate Swap 50,632,055 39,318,432 11,313, % Other Liability - non current 3,178,708 3,718,543 (539,835) (14.5%) Total Long Term Liabilities 584,262, ,102,293 10,160, % Total Liabilities 758,792, ,586,762 54,206, % Net Assets Fund Balance 492,314, ,276,350 (60,961,567) (11.0%) Net Income 24,476,754 (61,395,611) 85,872,366 (139.9%) Total Net Assets 516,791, ,880,738 24,910, % Total Liabilities and Net Assets 1,275,584,316 1,196,467,500 79,116, % 2 of 2 Report Generated On: Thursday, April 23, :37:27 AM 3

4 PIH Health Consol P&L Act vs Bud FY15 Curr Mo Current Month: March Line Description Actual Current Month Budget Current Month % Var Actual 2015 YTD thru Current Month Budget 2015 YTD thru Current Month % Var Patient Revenue Inpatient 212,316, ,330,702 5,985, % 1,206,346,391 1,222,520,111 (16,173,720) -1.3% Outpatient 191,172, ,513,901 20,658, % 1,047,126, ,182,063 48,944, % Capitation 7,054,655 6,886, , % 42,305,823 40,732,818 1,573, % Home Health 1,799,973 1,704,856 95, % 10,618,392 9,998, , % Other Operating Revenue 4,939,785 5,085,230 (145,445) -2.9% 30,589,678 29,885, , % Hospital Fee Program-Payments 67,830, ,830, % 67,830, ,830, % Total Patient Revenue 485,113, ,521,295 94,592, % 2,404,817,025 2,301,319, ,497, % Deductions From Revenue Contractual Allowances 348,825, ,769,879 (29,055,472) -8.6% 1,926,795,878 1,885,009,561 (41,786,317) -1.7% Charity Care Deductions 397,421 1,261, , % 5,538,177 7,455,396 1,917, % Total Deductions 349,222, ,031,240 (28,191,532) -8.8% 1,932,334,055 1,892,464,957 (39,869,099) -2.1% Net Patient Revenue 135,890,922 69,490,054 66,400, % 472,482, ,854,553 63,628, % Operating Expenses S&W 23,732,996 23,171,894 (561,102) -2.4% 134,103, ,904,045 2,800, % Employee Benefits 8,389,625 8,751, , % 54,419,657 52,452,744 (1,966,913) -3.7% Bad Debt Expense 1,406,447 1,542, , % 8,222,389 8,947, , % Supplies 8,749,483 8,308,410 (441,072) -5.3% 47,752,433 49,112,171 1,359, % Professional Fees 9,173,475 8,843,016 (330,459) -3.7% 50,083,160 51,269,880 1,186, % Purchased Services 5,265,191 5,910, , % 33,041,715 35,207,719 2,166, % Claim & Capitation Expense 3,399,036 3,209,134 (189,902) -5.9% 20,138,375 19,044,888 (1,093,487) -5.7% Depreciation/Amortization 3,308,205 3,473, , % 20,207,380 20,938, , % Insurance 722, ,104 (15,760) -2.2% 3,629,369 4,178, , % Interest Expense 953, ,094 (48,116) -5.3% 5,812,598 5,378,635 (433,963) -8.1% Rental/Lease Expense 268, ,468 12, % 1,577,507 1,690, , % Other Expenses 2,349,957 2,555, , % 14,043,797 15,431,881 1,388, % Hospital Fee Program 53,546,202 0 (53,546,202) 0.0% 53,546,202 0 (53,546,202) 0.0% Total Operating Expenses 121,265,087 67,659,177 (53,605,910) -79.2% 446,578, ,556,344 (46,021,698) -11.5% Earnings From Operations 14,625,835 1,830,877 12,794, % 25,904,927 8,298,209 17,606, % Net Oper % 10.8% 2.6% 8.1% 308.5% 5.5% 2.0% 3.5% 170.1% Non-Operating Income/(Expense) Interest Income 397, ,631 (184,705) -31.7% 7,188,046 8,474,556 (1,286,509) -15.2% Gain/(Loss) on Sale 1,154,269 (64,644) 1,218, % 6,185,251 (380,202) 6,565, % Market Value Adj (2,423,137) 0 (2,423,137) 0.0% (295,648) 0 (295,648) 0.0% Swap-Market Value Adj (1,569,931) 0 (1,569,931) 0.0% (11,313,623) 0 (11,313,623) 0.0% Swap-Interest (564,238) (563,390) (848) 0.2% (3,397,240) (3,386,163) (11,077) 0.3% 1 of 2 Report Generated On: Thursday, April 23, :57:27 AM 4

5 PIH Health Consol P&L Act vs Bud FY15 Curr Mo Current Month: March Line Description Actual Current Month Budget Current Month % Var Actual 2015 YTD thru Current Month Budget 2015 YTD thru Current Month % Var Asset Released from Restrictions % 17, , % Other Non-Operating (13,609) 0 (13,609) 0.0% 187, , % Total Non-Operating Income/ (Expense) (3,018,719) (45,403) (2,973,316) % (1,428,173) 4,708,191 (6,136,363) % Net Income/(Loss) 11,607,116 1,785,474 9,821, % 24,476,754 13,006,400 11,470, % 2 of 2 Report Generated On: Thursday, April 23, :57:27 AM 5

6 PIH Health Consol P&L Act vs PY FY15 Curr Mo Current Month: March Line Description ACTUAL2015 ACTUAL2014 Percent ACTUAL ACTUAL YTD Thru Current YTD Thru Current Month Month Percent Patient Revenue Inpatient 212,316, ,683,508 3,633, % 1,206,346,391 1,216,400,622 (10,054,231) -0.8% Outpatient 191,172, ,624,037 24,548, % 1,047,126, ,196,559 87,930, % Capitation 7,054,655 6,201, , % 42,305,823 37,597,094 4,708, % Home Health 1,799,973 1,578, , % 10,618,392 9,431,650 1,186, % Other Operating Revenue 4,939,785 5,479,167 (539,382) -9.8% 30,589,678 36,933,230 (6,343,552) -17.2% Hospital Fee Program-Payments 67,830, ,830, % 67,830,056 2,787,608 65,042, % Total Patient Revenue 485,113, ,567,467 96,546, % 2,404,817,025 2,262,346, ,470, % Deductions From Revenue Contractual Allowances 348,825, ,098,006 (30,727,346) -8.9% 1,926,795,878 1,849,497,710 (77,298,168) 4.1% Charity Care Deductions 397, , , % 5,538,177 6,138, , % Total Deductions 349,222, ,842,541 (30,380,231) -9.5% 1,932,334,055 1,855,636,580 (76,697,475) -4.1% Net Patient Revenue 135,890,922 69,724,926 66,165, % 472,482, ,710,183 65,772, % Operating Expenses S&W 23,732,996 24,496, , % 134,103, ,418,547 3,315, % Employee Benefits 8,389,625 8,339,529 (50,096) -0.6% 54,419,657 53,011,724 (1,407,933) -2.7% Bad Debt Expense 1,406,447 1,524, , % 8,222,389 11,281,135 3,058, % Supplies 8,749,483 8,628,236 (121,247) -1.4% 47,752,433 50,324,985 2,572, % Professional Fees 9,173,475 8,134,386 (1,039,089) -12.8% 50,083,160 49,129,405 (953,755) -1.9% Purchased Services 5,265,191 4,857,012 (408,179) -8.4% 33,041,715 29,552,367 (3,489,348) -11.8% Claim & Capitation Expense 3,399,036 3,006,069 (392,967) -13.1% 20,138,375 17,443,442 (2,694,933) -15.4% Depreciation/Amortization 3,308,205 3,620, , % 20,207,380 21,264,184 1,056, % Insurance 722, ,766 49, % 3,629,369 3,943, , % Interest Expense 953, ,276 (308,934) -48.0% 5,812,598 7,711,505 1,898, % Rental/Lease Expense 268, ,065 (4,332) -1.6% 1,577,507 1,693, , % Management Services 0 2,000 2, % 0 12,000 12, % Other Expenses 2,349,957 2,667, , % 14,043,797 17,267,310 3,223, % Hospital Fee Program 53,546,202 0 (53,546,202) 0.0% 53,546,202 2,787,607 (50,758,595) % Total Operating Expenses 121,265,087 66,957,983 (54,307,104) -81.1% 446,578, ,841,607 (43,736,436) -10.9% Earnings From Operations 14,625,835 2,766,943 11,858, % 25,904,927 3,868,577 22,036, % Net Oper % 10.8% 4.0% 6.8% 171.2% 5.5% 1.0% 4.5% 476.4% Non-Operating Income/(Expense) Interest Income 397, ,993 (195,067) -32.9% 7,188,046 8,351,037 (1,162,991) -13.9% Gain/(Loss) on Sale 1,154,269 (101,678) 1,255, % 6,185,251 1,503,251 4,682, % Market Value Adj (2,423,137) 575,958 (2,999,095) % (295,648) 10,506,733 (10,802,381) % Swap-Market Value Adj (1,569,931) 712,502 (2,282,433) % (11,313,623) 589,987 (11,903,610) % 1 of 2 Report Generated On: Thursday, April 23, :00:42 AM 6

7 PIH Health Consol P&L Act vs PY FY15 Curr Mo Current Month: March Line Description ACTUAL2015 ACTUAL2014 Percent ACTUAL ACTUAL YTD Thru Current YTD Thru Current Month Month Percent Swap-Interest (564,238) (566,341) 2, % (3,397,240) (3,396,204) (1,036) 0.0% Asset Released from Restrictions % 17, ,144 (95,334) -84.3% Other Non-Operating (13,609) (39,533,018) 39,519, % 187,230 (43,162,204) 43,349, % Total Non-Operating Income/ (Expense) (3,018,719) (38,319,583) 35,300, % (1,428,173) (25,494,256) 24,066, % Net Income/(Loss) 11,607,116 (35,552,640) 47,159, % 24,476,754 (21,625,679) 46,102, % 2 of 2 Report Generated On: Thursday, April 23, :00:42 AM 7

8 PIH Health Consolidating P&L_Actual FY15 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 153,588, ,728, ,316, ,316,617 Outpatient 138,393, ,764, ,015, ,172, ,172,608 Capitation 363, ,617, , ,638,447 (583,792) 7,054,655 Home Health 1,799, ,799, ,799,973 Other Operating Revenue 3,323,769 1,394,210 57,734 62, , , , , ,891,041 (1,951,256) 4,939,785 Hospital Fee Program- Payments 43,734, ,095, ,830, ,830,056 Total Patient Revenue 341,202,952 1,394,210 57,734 62,765 17,998, , , , ,088, ,648,742 (2,535,048) 485,113,695 Deductions From Revenue Contractual Allowances 252,646, ,407, ,772, ,825, ,825,351 Charity Care Deductions 396, , ,421 Total Deductions 253,043, ,407, ,772, ,222, ,222,772 Net Patient Revenue 88,159,908 1,394,210 57,734 62,765 11,591, , , ,423 35,316, ,425,970 (2,535,048) 135,890,922 Operating Expenses S&W 15,527, , ,680 2,439,694 48, ,555, ,732, ,732,996 Employee Benefits 5,436,431 13, ,024 1,055,651 18, ,855, ,389, ,389,625 Bad Debt Expense 867, , , ,406, ,406,447 Supplies 6,183,833 22, , , ,852, ,181,018 (431,535) 8,749,483 Professional Fees 3,224,000 65, ,890 5,512, ,761 1, , ,173, ,173,475 Purchased Services 4,278,428 85, , , ,250 22, , ,265, ,265,191 Claim & Capitation Expense 306, ,092, , ,982,828 (583,792) 3,399,036 Depreciation/Amortization 2,281, , , , ,308, ,308,205 Insurance 464,450 1, , , , ,110,424 (387,560) 722,864 Interest Expense 487,140 33, , , ,209 Rental/Lease Expense 463,172 29, , ,183 6, , ,300,064 (1,031,667) 268,397 Management Services 57, ,760 2, ,494 (100,494) 0 Other Expenses 2,186, ,520 57,734 2,830 (448,601) 2,258 5, , ,349, ,349,957 Hospital Fee Program 32,152, ,393, ,546, ,546,202 Total Operating Expenses 73,918,181 1,012,610 57,734 89,572 13,806, , , ,519 33,219, ,800,135 (2,535,048) 121,265,087 Earnings From Operations 14,241, ,600 0 (26,807) (2,214,273) 19, ,291 8,904 2,096, ,625, ,625,835 Net Oper % 16.2% 27.4% 0.0% -42.7% -19.1% 3.0% 21.3% 1.4% 5.9% 0.0% 10.6% 0.0% 10.8% Non-Operating Income/ (Expense) Interest Income 390,704 0 (6,088) 9, , , ,926 Gain/(Loss) on Sale 1,153, ,154, ,154,269 Market Value Adj (2,713,260) 0 0 (18,964) , (2,423,137) 0 (2,423,137) Swap-Market Value Adj (1,569,931) (1,569,931) 0 (1,569,931) 1 of 2 Report Generated On: Thursday, April 23, :17:55 AM 8

9 PIH Health Consolidating P&L_Actual FY15 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 (564,238) (564,238) 0 (564,238) Other Non-Operating (13,609) 0 (13,609) 0 (13,609) Total Non-Operating Income/(Expense) (3,303,137) 0 (6,088) (9,859) , (13,599) 0 (3,018,719) 0 (3,018,719) Net Income/(Loss) 10,938, ,600 (6,087) (36,666) (2,214,273) 19, ,070 9,088 2,082, ,607, ,607,116 2 of 2 Report Generated On: Thursday, April 23, :17:55 AM 9

10 PIH Health Consolidating P&L_Actual FY15 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 Year ACTUAL2015 Patient Revenue Inpatient 916,528, ,817, ,206,346,39 1 Outpatient 767,212, ,574, ,339, ,047,126, ,206,346, ,047,126,68 5 Capitation 2,188, ,674, ,956, ,819,591 (3,513,768) 42,305,823 Home Health 10,618, ,618, ,618,392 Other Operating Revenue 22,756,381 8,208, , ,233 3,031,481 3,292,585 2,317, ,208, ,499,690 (10,910,011) 30,589,678 Hospital Fee Program- Payments 43,734, ,095, ,830, ,830,056 Total Patient Revenue 1,763,038,887 8,208, , , ,281,130 3,292,585 2,317,143 3,956, ,461, ,419,240,80 4 Deductions From Revenue Contractual Allowances 1,446,437, ,987, ,368,501 2,477 1,926,795,87 8 (14,423,779) 2,404,817, ,926,795,87 8 Charity Care Deductions 5,311, , ,538, ,538,177 Total Deductions 1,451,749, ,987, ,594,890 2,477 1,932,334, ,932,334,05 5 Net Patient Revenue 311,289,351 8,208, , ,233 66,293,978 3,292,585 2,317,143 3,956,523 90,866,493 (2,477) 486,906,749 (14,423,779) 472,482,970 Operating Expenses S&W 87,466, , ,670 13,145, , ,379,905 (1,609) 134,103, ,103,461 Employee Benefits 36,786, , ,553 6,463,960 47, ,953,115 11,761 54,419, ,419,657 Bad Debt Expense 5,875, , ,511,166 (381) 8,222, ,222,389 Supplies 33,771, , ,909 3,617,162 2,870, ,610,708 (23) 49,986,510 (2,234,078) 47,752,433 Professional Fees 17,242, , ,896 30,291, ,822 5,158 1,952, ,083, ,083,160 Purchased Services 26,505, , ,497 1,178, , ,623 4,328, ,041, ,041,715 Claim & Capitation Expense 824, ,313, ,513, ,652,143 (3,513,768) 20,138,375 Depreciation/Amortization 13,923,184 2,618, ,674,803 7, ,982, ,207, ,207,380 Insurance 2,512,093 8, , ,749, , ,615,743 (1,986,374) 3,629,369 Interest Expense 2,973, , ,644, ,812, ,812,598 Rental/Lease Expense 2,706, , ,059 4,468,896 36, , ,645,247 (6,067,740) 1,577,507 Management Services 364, ,330 12, ,820 (621,820) 0 Other Expenses 13,253,461 1,257, ,950 33,233 (2,557,266) 19,412 18, ,648,887 4,355 14,043, ,043,797 Hospital Fee Program 32,152, ,393, ,546, ,546,202 Total Operating Expenses 276,359,267 6,109, , ,523 79,273,183 3,240,395 2,035,034 3,898,680 89,152,152 14, ,001,822 (14,423,779) 446,578,042 Earnings From Operations 34,930,085 2,098,938 (460) (234,290) (12,979,205) 52, ,109 57,844 1,714,341 (16,624) 25,904, ,904,927 Net Oper % 11.2% 25.6% -0.1% -73.2% -19.6% 1.6% 12.2% 1.5% 1.9% 671.1% 5.3% 0.0% 5.5% Non-Operating Income/ (Expense) Interest Income 7,109,602 0 (29,125) 52, ,603 1, ,188, ,188,046 1 of 2 Report Generated On: Thursday, April 23, :14:53 AM 10

11 PIH Health Consolidating P&L_Actual FY15 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 Gain/(Loss) on Sale 6,188,196 0 (73,507) 28,408 10, , (1,342) 6,185, ,185,251 Market Value Adj (705,604) 0 68,158 13, , ,871 0 (295,648) 0 (295,648) Swap-Market Value Adj (11,313,623) (11,313,623) 0 (11,313,623) Swap-Interest (3,397,240) (3,397,240) 0 (3,397,240) Asset Released from Restrictions 17, , ,810 Other Non-Operating , , ,230 Total Non-Operating Income/(Expense) (2,100,858) 0 (34,474) 95,142 10, ,837 1, ,062 (1,342) (1,428,173) 0 (1,428,173) Net Income/(Loss) 32,829,226 2,098,938 (34,934) (139,149) (12,968,905) 52, ,946 59,004 1,907,404 (17,966) 24,476, ,476,754 2 of 2 Report Generated On: Thursday, April 23, :14:53 AM 11

12 PIH Health Consolidated Monthly P&L Actual FY15 Year ACTUAL2015 Line Description October November December January February March Total Patient Revenue Inpatient 192,994, ,854, ,778, ,355, ,045, ,316,617 1,206,346,391 Outpatient 186,188, ,525, ,542, ,059, ,638, ,172,608 1,047,126,685 Capitation 7,638,384 7,570,975 5,781,786 7,048,038 7,211,985 7,054,655 42,305,823 Home Health 1,844,342 1,669,032 1,831,080 1,848,092 1,625,873 1,799,973 10,618,392 Other Operating Revenue 5,964,873 4,986,667 5,050,870 4,944,346 4,703,137 4,939,785 30,589,678 Hospital Fee Program- Payments ,830,056 67,830,056 Total Patient Revenue 394,630, ,607, ,984, ,255, ,225, ,113,695 2,404,817,025 Deductions From Revenue Contractual Allowances 321,492, ,834, ,384, ,530, ,728, ,825,351 1,926,795,878 Charity Care Deductions 3,941, , , ,422 (588,408) 397,421 5,538,177 Total Deductions 325,433, ,423, ,998, ,115, ,140, ,222,772 1,932,334,055 Net Patient Revenue 69,197,107 66,183,464 65,986,188 69,140,052 66,085, ,890, ,482,970 Operating Expenses S&W 22,851,483 21,750,963 21,913,729 22,788,721 21,065,570 23,732, ,103,461 Employee Benefits 9,761,643 9,706,097 8,052,156 9,583,104 8,927,032 8,389,625 54,419,657 Bad Debt Expense 1,608,517 1,680,690 1,522,357 1,266, ,698 1,406,447 8,222,389 Supplies 8,166,989 7,496,880 7,591,448 7,979,710 7,767,923 8,749,483 47,752,433 Professional Fees 8,164,621 8,275,054 8,353,633 7,821,445 8,294,933 9,173,475 50,083,160 Purchased Services 5,268,437 5,533,714 5,690,934 5,697,866 5,585,572 5,265,191 33,041,715 Claim & Capitation Expense 3,940,268 4,013,507 2,151,776 3,479,657 3,154,132 3,399,036 20,138,375 Depreciation/Amortization 3,418,741 3,453,468 3,369,322 3,352,678 3,304,966 3,308,205 20,207,380 Insurance 568, , , , , ,864 3,629,369 Interest Expense 1,019, , , , , ,209 5,812,598 Rental/Lease Expense 283, , , , , ,397 1,577,507 Other Expenses 2,632,409 1,870,769 2,415,272 2,497,847 2,277,542 2,349,957 14,043,797 Hospital Fee Program ,546,202 53,546,202 Total Operating Expenses 67,683,683 65,582,456 62,866,169 66,248,001 62,932, ,265, ,578,042 Earnings From Operations 1,513, ,008 3,120,019 2,892,051 3,152,590 14,625,835 25,904,927 Net Oper % 2.2% 0.9% 4.7% 4.2% 4.8% 10.8% 5.5% Non-Operating Income/ (Expense) Interest Income 467, ,242 3,251,054 1,109,962 1,288, ,926 7,188,046 Gain/(Loss) on Sale 3,475, , , , ,533 1,154,269 6,185,251 Market Value Adj (1,356,404) 4,682,479 (7,862,187) (1,275,124) 7,938,725 (2,423,137) (295,648) 1 of 2 Report Generated On: Thursday, April 23, :26:34 AM 12

13 PIH Health Consolidated Monthly P&L Actual FY15 Line Description October November December January February March Total Swap-Market Value Adj (2,643,111) (2,392,651) (1,568,802) (8,734,351) 5,595,223 (1,569,931) (11,313,623) Swap-Interest (566,293) (567,529) (565,577) (565,073) (568,530) (564,238) (3,397,240) Asset Released from Restrictions 8, , ,810 Other Non-Operating (55,538) (55,503) (54,649) (65,232) 431,761 (13,609) 187,230 Total Non-Operating Income/(Expense) (669,828) 2,731,362 (6,679,416) (9,293,401) 15,501,829 (3,018,719) (1,428,173) Net Income/(Loss) 843,597 3,332,371 (3,559,398) (6,401,350) 18,654,419 11,607,116 24,476,754 2 of 2 Report Generated On: Thursday, April 23, :26:34 AM 13

14 PIH Health Consolidating Bal Sheet FY15 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 317, ,459 5,748, , , ,638,051 92,244 1,242, ,487, ,487,739 ST Investments , ,467 2,002, , ,498, ,498,627 Patient Accounts Receivable 70,628, ,472, ,300, ,401, ,401,434 Other Accounts Receivable 5,546,180 86, , , , , ,767, ,691, ,691,105 Inventory 4,674, , , ,975, ,618, ,618,464 Prepaid Expenses 6,539, , ,474, ,770, ,310, ,370,714 (4,020,237) 8,350,477 Hospital Fee Receivable 37,825, ,720, ,545, ,545,408 Total Current Assets 125,531, ,627 5,892, ,711 10,063, ,507 10,034,948 2,094,568 50,420, ,613,491 (4,020,237) 201,593,253 Other Assets Deferred Compensation Investments 18,802, ,802, ,802,273 Deferred Charges 4,080, , ,763, ,763,320 Prepaid IT 7,244, ,244, ,244,514 Deposits & Other Assets 1,569,776 1,051, ,000 16, ,211, ,259, ,407,818 (1,565,900) 13,841,918 Restricted Trustee-Held Investments 6,068, , ,341 1,647, ,404, ,404,852 Investments-Funded Depreciation 389,158, ,543, ,926, ,628, ,628,773 Total Other Assets 426,924,778 1,439, ,843,236 16, ,137, ,341 9,588, ,251,549 (1,565,900) 455,685,649 Property, Plant & Equipment Property, Plant & Equipment 568,612, ,496, ,715 29,024, , ,463, ,774, ,774,647 Accumulated Depreciation (171,906,917) (26,850,419) 0 (5,307) (12,114,304) (78,630) 0 0 (9,513,655) 0 (220,469,233) 0 (220,469,233) Property, Plant & Equipment - net 396,705, ,646, ,408 16,909,883 86, ,950, ,305, ,305,414 Total Assets 949,161, ,573,876 5,892,160 3,165,355 26,989, ,467 26,172,650 2,394, ,959, ,281,170,453 (5,586,137) 1,275,584,316 Liabilities and Fund Balance Current Liabilities Accounts Payable 19,973, ,168 65,164 50,964 1,537,700 1,159 41, ,301, ,134, ,134,854 Other Accrued Liabilities 4,060, , , ,768, ,208 (1,958) 11,818,808 (4,020,237) 7,798,570 Accrued Compensation 20,375, ,994 3,017, ,610,506 15,771 30,067, ,067,970 Third Party Liability 3,797, ,354, ,428, ,580, ,580,247 Current Portion - LT Debt 9,108, , , ,922, ,922,159 ST Loan & Letter of Credit 49,000, ,000, ,000,000 Hospital Fee Payable 22,851, ,174, ,026, ,026,044 Total Current Liabilities 129,167, ,898 65, ,079 9,885,623 1,159 5,809, ,818,054 14, ,550,081 (4,020,237) 174,529,844 Affiliate Payable (Receivable) (300,374,115) 111,584,530 5,802,855 (3,613,606) 54,325,761 1,745,423 1,278, ,544,328 2,706, Long-Term Liabilities 1 of 2 Report Generated On: Thursday, April 23, :35:24 AM 14

15 PIH Health Consolidating Bal Sheet FY15 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 Self-Insurance Reserves 17,397, ,693, ,714, ,189, ,995, ,995,046 Deferred Compensation Liabilities 13,914, ,914, ,914,256 Bankruptcy Liability ,170, ,170, ,170,631 Bonds & Long Term Debt 383,741,743 6,676, ,855, ,273, ,273,796 Pension Liability 59,098, ,098, ,098,442 Interest Rate Swap 50,632, ,632, ,632,055 Other Liability - non current 1,879, , , , , ,178, ,178,708 Total Long Term Liabilities 526,663,351 7,113, ,853 2,903, ,714, ,668, ,262, ,262,935 Total Liabilities 355,457, ,385,733 5,868,019 (3,313,673) 67,115,275 1,746,582 17,802, ,030,486 2,720, ,813,016 (4,020,237) 758,792,779 Net Assets Fund Balance 560,875,658 4,089,205 59,075 6,618,176 (27,156,430) (938,305) 7,678,764 2,335,905 (56,978,741) (2,702,626) 493,880,683 (1,565,900) 492,314,783 Net Income 32,829,226 2,098,938 (34,934) (139,149) (12,968,905) 52, ,946 59,004 1,907,404 (17,966) 24,476, ,476,754 Total Net Assets 593,704,884 6,188,143 24,142 6,479,028 (40,125,335) (886,115) 8,369,709 2,394,909 (55,071,337) (2,720,592) 518,357,437 (1,565,900) 516,791,537 Total Liabilities and Net Assets 949,161, ,573,876 5,892,160 3,165,355 26,989, ,467 26,172,650 2,394, ,959, ,281,170,453 (5,586,137) 1,275,584,316 2 of 2 Report Generated On: Thursday, April 23, :35:24 AM 15

16 PIH Health Consolidated Statement of Cash Flows Fiscal Year to Date Ended March 31, 2015 Period Ended Mar 15 CASH FLOWS FROM OPERATING ACTIVITIES: Net earnings (loss) $ 24,476,754 Fund balance transfer equity 434,044 Adjustments to reconcile change in net assets to net cash provided by operating activities and nonoperating gains and losses: Depreciation and amortization 20,207,380 Net (gain)/loss on investments (5,889,603) Provision for Bad Debt 8,222,389 Amortization of Deferred Costs 255,760 Accretion of Bond Premium (50,729) Amortization of Bond Discount 11,479 Market Value Adjustment on Swap 11,313,623 Changes in assets and liabilities: Patient accounts receivable, net (16,592,771) Other receivables 2,501,536 Inventory (1,156,862) Prepaid expenses and other assets (3,093,819) Prepaid IT projects (1,889,689) Deposits and other assets (711,322) Hospital Fee Receivable (57,478,547) Accounts payable and accrued expenses (8,643,426) Accrued compensation and related liabilities 5,092,394 Retention - self-insurance programs 664,678 Estimated third party payors settlements 3,039,060 Hospital Fee Payable 35,653,436 Deferred Comp (923,613) Pension liability 928,419 Prepetition liability (net) (187,050) Net cash provided by operating activities 16,183,521 CASH FLOWS FROM (USED IN) FROM INVESTING ACTIVITIES: Sale (purchase) of investments, net (3,957,373) Capital expenditures (20,607,753) Realized gains/losses 6,185,251 Net cash from (used in) investing activities (18,379,875) CASH FLOWS FROM (USED IN) FROM FINANCING ACTIVITIES: Debt issuance costs (3,770) Payment of Downey's prepetition liabilities (832,256) Payment Other LT debt (i.e. mortgage, capital leases) (756,716) Draw from Line of Credit 9,000,000 Net cash from (used in) financing activities 7,407,258 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 5,210,904 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 9,276,835 CASH AND CASH EQUIVALENTS, END OF YEAR $ 14,487,739 16

17 PIH Health Consolidating P&L_Budget FY15 MTD Line Description Hosp - Whittier (100) PIH Health (101 & 111) Mgmt (102) Found (104) Physicians (110) Comm Pharm (114) Insurance (120) PIH Hlthcare Solutions (125) Downey (200,201,204) Others (112, 109) Gross Elim Net Month Number 6 - March Patient Revenue Inpatient 152,559, ,771, ,330, ,330,702 Outpatient 124,962, ,136, ,415, ,513, ,513,901 Capitation 296, ,529, , ,363,461 (476,856) 6,886,605 Home Health 1,704, ,704, ,704,856 Other Operating Revenue 3,679,019 1,384,906 45,071 83, , , , , ,564,126 (1,478,896) 5,085,230 Total Patient Revenue 283,202,211 1,384,906 45,071 83,167 18,042, , , ,000 88,433, ,477,047 (1,955,752) 390,521,295 Deductions From Revenue Contractual Allowances 237,250, ,467, ,052, ,769, ,769,879 Charity Care Deductions 1,183, , ,261, ,261,361 Total Deductions 238,433, ,467, ,129, ,031, ,031,240 Net Patient Revenue 44,768,417 1,384,906 45,071 83,167 11,574, , , ,000 12,303, ,445,806 (1,955,752) 69,490,054 Operating Expenses S&W 15,285, , ,818 2,436,417 38, ,230, ,171, ,171,894 Employee Benefits 5,798,237 22, ,630 1,040,381 7, ,875, ,751, ,751,968 Bad Debt Expense 936, , , ,542, ,542,759 Supplies 5,488,270 22, , , , ,736, ,308, ,308,410 Professional Fees 3,042,097 33, ,785 5,426, ,402 4, , ,843, ,843,016 Purchased Services 4,623, , , ,939 1,364 3,750 18, , ,910, ,910,600 Claim & Capitation Expense 77, ,131, , ,685,990 (476,856) 3,209,134 Depreciation/Amortization 2,411, , , , ,473, ,473,436 Insurance 467,947 1, , , , ,072,200 (365,096) 707,104 Interest Expense 470,671 30, , , ,094 Rental/Lease Expense 470,843 28, , ,921 6, , ,313,903 (1,033,435) 280,468 Management Services 45, ,294 2, ,365 (80,365) 0 Other Expenses 2,346, ,597 45,071 5,557 (412,434) 1, , ,555, ,555,294 Total Operating Expenses 41,464,287 1,137,053 45, ,028 13,852, , , ,380 11,689, ,614,929 (1,955,752) 67,659,177 Earnings From Operations 3,304, ,854 0 (48,861) (2,278,276) (57,186) 45,089 3, , ,830, ,830,877 Net Oper % 7.4% 17.9% 0.0% -58.8% -19.7% -15.7% 11.7% 0.7% 5.0% 0.0% 2.6% 0.0% 2.6% Non-Operating Income/ (Expense) Interest Income 555, ,189 7, , , , ,631 Gain/(Loss) on Sale (60,910) 0 (3,734) (64,644) 0 (64,644) Swap-Interest (563,390) (563,390) 0 (563,390) Total Non-Operating Income/(Expense) (68,355) 0 4,455 7, , ,468 0 (45,403) 0 (45,403) Net Income/(Loss) 3,235, ,854 4,455 (41,194) (2,278,276) (57,186) 51,451 3, , ,785, ,785,474 1 of 1 Report Generated On: Thursday, April 23, :37:01 AM 17

18 PIH Health Consolidating P&L_Budget FY15 YTD Line Description Hosp - Whittier (100) PIH Health (101 & 111) Mgmt (102) Found (104) Physicians (110) Comm Pharm (114) Insurance (120) PIH Hlthcare Solutions (125) Downey (200,201,204) Gross Elim Net Year BUDGET2015 Patient Revenue Inpatient 908,177, ,342,496 1,222,520, ,222,520,111 Outpatient 738,337, ,330, ,513, ,182, ,182,063 Capitation 1,781, ,590, ,222, ,593,954 (2,861,136) 40,732,818 Home Health 9,998, ,998, ,998,587 Other Operating Revenue 21,524,754 8,220, , ,000 2,306,212 2,083,917 2,145, ,462,884 38,513,004 (8,627,073) 29,885,931 Total Patient Revenue 1,679,820,278 8,220, , , ,226,971 2,083,917 2,145,438 3,222, ,319,317 2,312,807,719 (11,488,209) 2,301,319,510 Deductions From Revenue Contractual Allowances 1,407,207, ,442, ,359,551 1,885,009, ,885,009,561 Charity Care Deductions 7,004, ,769 7,455, ,455,396 Total Deductions 1,414,212, ,442, ,810,320 1,892,464, ,892,464,957 Net Patient Revenue 265,608,187 8,220, , ,000 66,784,426 2,083,917 2,145,438 3,222,000 71,508, ,342,762 (11,488,209) 408,854,553 Operating Expenses S&W 90,636, , ,447 13,963, , ,017, ,904, ,904,045 Employee Benefits 35,102, , ,973 5,980,238 41, ,140,104 52,452, ,452,744 Bad Debt Expense 5,505, , ,494,256 8,947, ,947,478 Supplies 32,600, , ,915 4,019,330 2,139, ,221,034 49,112, ,112,171 Professional Fees 18,313, , ,004 30,653, ,412 24,900 1,760,371 51,269, ,269,880 Purchased Services 27,678,691 1,079, ,040 1,131,247 7,963 22, ,360 4,955,307 35,207, ,207,719 Claim & Capitation Expense 467, ,577, ,861, ,906,025 (2,861,137) 19,044,888 Depreciation/Amortization 14,577,338 2,763, ,656,287 7, ,933,404 20,938, ,938,312 Insurance 2,633,630 8, , ,814, ,651 6,209,519 (2,031,500) 4,178,019 Interest Expense 2,800, , ,383,448 5,378, ,378,635 Rental/Lease Expense 2,733, , ,059 4,500,096 36, ,396 7,803,953 (6,113,382) 1,690,571 Management Services 270, ,764 12, ,190 (482,190) 0 Other Expenses 14,109,784 1,441, ,426 33,225 (2,426,926) 15,211 59,905 3,800 1,925,282 15,431, ,431,881 Total Operating Expenses 247,428,335 6,834, , ,368 79,862,989 2,472,905 2,090,658 3,201,080 69,072, ,044,553 (11,488,209) 400,556,344 Earnings From Operations 18,179,851 1,385,925 0 (312,368) (13,078,564) (388,988) 54,780 20,920 2,436,653 8,298, ,298,209 Net Oper % 6.8% 16.9% 0.0% -62.6% -19.6% -18.7% 2.6% 0.6% 3.4% 2.0% 0.0% 2.0% Non-Operating Income/ (Expense) Interest Income 8,314, ,134 46, ,172 1,000 26,232 8,474, ,474,556 Gain/(Loss) on Sale (372,734) 0 (7,468) (380,202) 0 (380,202) Swap-Interest (3,386,163) (3,386,163) 0 (3,386,163) Total Non-Operating Income/(Expense) 4,555, ,666 46, ,172 1,000 26,232 4,708, ,708,191 Net Income/(Loss) 22,734,970 1,385,925 41,666 (266,366) (13,078,564) (388,988) 92,952 21,920 2,462,885 13,006, ,006,400 1 of 1 Report Generated On: Thursday, April 23, :30:51 AM 18

19 PIH Health Consolidated Monthly P&L Budget FY15 Year BUDGET2015 Line Description October November December January February March Total Patient Revenue Inpatient 198,638, ,565, ,343, ,549, ,092, ,330,702 1,222,520,111 Outpatient 167,041, ,123, ,900, ,954, ,648, ,513, ,182,063 Capitation 6,718,624 6,725,495 6,732,712 6,823,085 6,846,297 6,886,605 40,732,818 Home Health 1,702,888 1,648,470 1,702,254 1,702,326 1,537,793 1,704,856 9,998,587 Other Operating Revenue 4,990,811 5,043,436 4,764,576 4,855,173 5,146,705 5,085,230 29,885,931 Total Patient Revenue 379,091, ,107, ,443, ,884, ,271, ,521,295 2,301,319,510 Deductions From Revenue Contractual Allowances 310,512, ,888, ,119, ,146, ,573, ,769,879 1,885,009,561 Charity Care Deductions 1,235,978 1,188,301 1,231,678 1,345,156 1,192,922 1,261,361 7,455,396 Total Deductions 311,748, ,076, ,350, ,491, ,766, ,031,240 1,892,464,957 Net Patient Revenue 67,342,723 65,030,687 68,093,093 72,392,517 66,505,480 69,490, ,854,553 Operating Expenses S&W 22,548,526 22,021,545 23,238,557 24,169,538 21,753,985 23,171, ,904,045 Employee Benefits 9,112,171 8,437,427 8,690,098 8,983,378 8,477,701 8,751,968 52,452,744 Bad Debt Expense 1,482,209 1,418,023 1,492,525 1,593,050 1,418,913 1,542,759 8,947,478 Supplies 8,253,413 7,606,888 8,037,585 8,972,783 7,933,091 8,308,410 49,112,171 Professional Fees 8,358,319 8,302,175 8,269,862 8,580,470 8,916,037 8,843,016 51,269,880 Purchased Services 5,803,991 5,918,942 5,831,704 5,921,081 5,821,401 5,910,600 35,207,719 Claim & Capitation Expense 3,094,305 3,099,902 3,107,536 3,398,492 3,135,520 3,209,134 19,044,888 Depreciation/Amortization 3,520,930 3,498,043 3,435,739 3,518,560 3,491,604 3,473,436 20,938,312 Insurance 686, , , , , ,104 4,178,019 Interest Expense 907, , , , , ,094 5,378,635 Rental/Lease Expense 283, , , , , ,468 1,690,571 Other Expenses 2,542,977 2,457,458 2,616,701 2,643,814 2,615,637 2,555,294 15,431,881 Total Operating Expenses 66,594,891 64,616,504 66,593,773 69,687,930 65,404,070 67,659, ,556,344 Earnings From Operations 747, ,183 1,499,320 2,704,586 1,101,411 1,830,877 8,298,209 Net Oper % 1.1% 0.6% 2.2% 3.7% 1.7% 2.6% 2.0% Non-Operating Income/ (Expense) Interest Income 579, ,860 4,954,379 1,211, , ,631 8,474,556 Gain/(Loss) on Sale (17,410) (53,400) (64,644) (89,368) (90,736) (64,644) (380,202) Swap-Interest (563,390) (564,845) (563,390) (563,390) (567,758) (563,390) (3,386,163) Total Non-Operating Income/(Expense) (1,040) (38,385) 4,326, ,358 (91,683) (45,403) 4,708,191 Net Income/(Loss) 746, ,798 5,825,664 3,262,944 1,009,727 1,785,474 13,006,400 1 of 1 Report Generated On: Thursday, April 23, :51:38 AM 19