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Universal Health Services Inc – ‘10-K’ for 12/31/10 – ‘XML.R10’

On: Monday, 2/28/11, at 5:02pm ET · For: 12/31/10 · Accession #: 1193125-11-50142 · File #: 1-10765

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/28/11  Universal Health Services Inc     10-K       12/31/10   39:7.5M                                   Donnelley … Solutions/FA

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Universal Health Services Inc--Form 10-K            HTML   1.84M 
 2: EX-10.3     Agreement                                           HTML     15K 
 3: EX-21       Subsidiaries of Registrant                          HTML    107K 
 4: EX-23.1     Consent of Independent Registered Accounting Firm   HTML     14K 
 5: EX-31.1     Section 302 CEO Certification                       HTML     17K 
 6: EX-31.2     Section 302 CFO Certification                       HTML     17K 
 7: EX-32.1     Section 906 CEO Certification                       HTML     14K 
 8: EX-32.2     Section 906 CFO Certification                       HTML     14K 
31: XML         IDEA XML File -- Definitions and References          XML     97K 
36: XML         IDEA XML File -- Filing Summary                      XML     85K 
34: XML.R1      Document and Entity Information                      XML    324K 
35: XML.R2      Consolidated Statements of Income                    XML    400K 
22: XML.R3      Consolidated Statements of Income (Parenthetical)    XML     36K 
26: XML.R4      Consolidated Balance Sheets                          XML    671K 
30: XML.R5      Consolidated Balance Sheets (Parenthetical)          XML    291K 
29: XML.R6      Consolidated Statements of Changes in Equity         XML   1.76M 
38: XML.R7      Consolidated Statements of Changes in Equity         XML     85K 
                (Parenthetical)                                                  
18: XML.R8      Consolidated Statements of Cash Flows                XML    550K 
28: XML.R9      Business and Summary of Significant Accounting       XML    151K 
                Policies                                                         
17: XML.R10     Acquisitions and Divestitures                        XML     92K 
16: XML.R11     Financial Instruments                                XML     44K 
21: XML.R12     Long-Term Debt                                       XML     72K 
33: XML.R13     Common Stock                                         XML    152K 
23: XML.R14     Income Taxes                                         XML    148K 
24: XML.R15     Lease Commitments                                    XML     60K 
27: XML.R16     Commitments and Contingencies                        XML     73K 
39: XML.R17     Relationship With Universal Health Realty Income     XML     57K 
                Trust and Related Party Transactions                             
19: XML.R18     Pension Plan                                         XML    180K 
15: XML.R19     Segment Reporting                                    XML     78K 
25: XML.R20     Quarterly Results                                    XML    134K 
32: XML.R21     Schedule Ii-Valuation and Qualifying Accounts        XML     52K 
37: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    855K 
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11: EX-101.CAL  XBRL Calculations -- uhs-20101231_cal                XML    134K 
12: EX-101.DEF  XBRL Definitions -- uhs-20101231_def                 XML    157K 
13: EX-101.LAB  XBRL Labels -- uhs-20101231_lab                      XML    449K 
14: EX-101.PRE  XBRL Presentations -- uhs-20101231_pre               XML    301K 
10: EX-101.SCH  XBRL Schema -- uhs-20101231                          XSD     55K 
20: ZIP         XBRL Zipped Folder -- 0001193125-11-050142-xbrl      Zip    104K

‘XML.R10’ — Acquisitions and Divestitures

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<div> 2) ACQUISITIONS AND DIVESTITURES Year ended December 31, 2010: 2010 Acquisitions of Assets and Businesses: During 2010, we spent $1.96 billion and assumed $1.08 billion of debt on the acquisition of businesses and real property, including the following: <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the acquisition of Psychiatric Solutions, Inc. on November 15, 2010 for a total purchase price of $3.04 billion consisting of $1.96 billion in cash plus the assumption of approximately $1.08 billion of PSI's debt, the majority of which has since been refinanced. PSI was formerly the largest operator of freestanding inpatient behavioral health care facilities operating a total of 105 inpatient and outpatient facilities in 32 states, Puerto Rico, and the U.S. Virgin Islands, and; </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the acquisition of substantially all of the assets of an outpatient surgery center located in Florida in which we previously held a 20% minority ownership interest. The purchase price consideration in connection with this transaction, which occurred during the first quarter, consisted of acquisition of the net assets less the assumption of the outstanding liabilities and third-party debt. </td></tr></table> The aggregate net purchase price of the facilities was allocated to assets and liabilities based on their preliminary estimated fair values as follows: <table border="0" cellspacing="0" cellpadding="0" width="84%" align="center"> <tr><td width="84%"> </td> <td valign="bottom" width="7%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Amount (000s)</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Working capital, net</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">65,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr><td valign="top"> Assets held for sale</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">67,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Property, plant & equipment</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">940,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr><td valign="top"> Goodwill</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,896,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Other assets</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">132,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr><td valign="top"> Income tax assets, net of deferred tax liabilities</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Debt</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(1,082,000</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr><td valign="top"> Liabilities held for sale</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(1,000</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Redeemable noncontrolling interests</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(5,000</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr><td valign="top"> Other liabilities</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(56,000</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Cash paid in 2010 for acquisitions</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,958,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td> </td></tr></table> Goodwill of the facilities acquired is computed, pursuant to the residual method, by deducting the fair value of the acquired assets and liabilities from the total purchase price. The factors that contribute to the recognition of goodwill, which may also influence the purchase price, include the following for each of the acquired facilities: (i) the historical cash flows and income levels; (ii) the reputations in their respective markets; (iii) the nature of the respective operations, and; (iv) the future cash flows and income growth projections. In connection with the receipt of antitrust clearance from the Federal Trade Commission ("FTC") in connection with our acquisition of PSI in November, 2010, we agreed to divest three former PSI facilities, one of which is located in Delaware (MeadowWood Behavioral Health System) and two of which are located in Nevada (Montevista Hospital and Red Rock Hospital) as well as one of our legacy facilities in Puerto Rico (Hospital San Juan Capestrano). Pursuant to the terms of our agreement with the FTC, we are required to divest the facilities in Delaware and Nevada within approximately six months and the facility in Puerto Rico within approximately nine months from the date the FTC finalizes the agreement. As of the date of this filing, our agreement with the FTC is not final and thus, the time period within which we must divest the facilities has not yet commenced. The operating results for the three former PSI facilities located in Delaware and Nevada are reflected as discontinued operations during 2010 from the November 15th date of acquisition through December 31st. Since the aggregate income from discontinued operations before income tax expense for these facilities is not material to our 2010 consolidated financial statements, it is included as a reduction to other operating expenses. The assets and liabilities for MeadowWood Behavioral Health System, Montevista Hospital, Red Rock Hospital and Hospital San Juan Capestrano are reflected as "held for sale" on our Consolidated Balance Sheet as of December 31, 2010. The assets of facilities held for sale includes $11 million of accounts receivable, $18 million of property and equipment, $89 million of goodwill and $1 million of other assets. The liabilities of facilities held for sale includes $2 million of accounts payable and $2 million of accrued compensation and related benefits. During 2008, we sold a 125-bed acute care hospital located in Pennsylvania and commenced divestiture considerations for the real property of our four acute care facilities located in Louisiana that were severely damaged and closed during 2005 as a result of damage sustained from Hurricane Katrina. The operating results and gain on divestiture for the facility located in Pennsylvania are reflected as "Income/(loss) from discontinued operations, net of income tax expense" in the Consolidated Statements of Income for 2008. The following table shows the results of operations of these facilities, on a combined basis, for all facilities reflected as discontinued operations (amounts in thousands): <table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr><td width="79%"> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center">Year Ended December 31,</td> <td valign="bottom"> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2010</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2009</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2008</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Net revenues</td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">4,155</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">— </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">58,467</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr><td valign="top"> Income (loss) from discontinued operations</td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">859</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">— </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">(2,996</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Gain on divestiture</td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">— </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">— </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">13,413</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td> </td></tr> <tr><td valign="top"> Income from discontinued operations, before income tax expense</td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">859</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">— </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">10,417</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Income tax expense</td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">(318</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">— </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">(3,981</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td> </td></tr> <tr><td valign="top"> Income from discontinued operations, net of income tax expense</td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">541</td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">— </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom"> </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">6,436</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td> </td></tr></table> Assuming the acquisition of PSI occurred on January 1, 2009, our 2009 pro forma net revenues would have been approximately $7.01 billion and our pro forma net income attributable to UHS and pro form net income attributable to UHS per diluted share would have been $211 million and $2.14 per diluted share, respectively. The 2009 pro forma net income attributable to UHS and net income attributable to UHS per diluted share include the after-tax impact of the transaction costs incurred by us in connection with the acquisition of PSI amounting to $79 million or $.81 per diluted share. Our 2010 pro forma net revenues would have been approximately $7.30 billion and our pro forma net income attributable to UHS and pro forma net income attributable to UHS per diluted share would have been $342 million and $3.47 per diluted share, respectively. During the period of November 16, 2010 through December 31, 2010, the facilities acquired from PSI generated $227 million of net revenues which are included in our consolidated net revenues for the year ended December 31, 2010. The aggregate effect of the earnings generated by these facilities since the date of acquisition, less the cost on the borrowings utilized to finance the acquisition, was not material to our 2010 net income attributable to UHS and net income attributable to UHS per diluted share. 2010 Divestitures of Assets and Businesses: During 2010, we received $21 million from the divestiture of assets and businesses, including the following: <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the sale of our minority ownership interest in a healthcare technology company; </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the sale of a portion of our ownership interest in an outpatient surgery center located in Texas, and; </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the sale of the real property of Methodist Hospital located in Louisiana that was severely damaged and closed in 2005 as a result of Hurricane Katrina. </td></tr></table> The pre-tax gain, net of losses, resulting from the above-mentioned transactions did not have a material impact on our 2010 financial statements. Year ended December 31, 2009: 2009 Acquisitions of Assets and Businesses: During 2009, we spent $12 million on the acquisition of businesses and real property, including the following: <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the acquisition of a 72-bed behavioral health care facility located in Louisville, Colorado, and; </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the acquisition of the real property assets of a medical office building located on the campus of one of our acute care hospitals located in Texas. </td></tr></table> The aggregate net purchase price of the facilities was allocated to assets and liabilities based on their estimated fair values as follows: <table border="0" cellspacing="0" cellpadding="0" width="84%" align="center"> <tr><td width="88%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Amount (000s)</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Working capital, net</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr><td valign="top"> Property, plant & equipment</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">11,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Cash paid in 2009 for acquisitions</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">12,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td> </td></tr></table> Assuming the acquisition of the behavioral health facility located in Colorado occurred on January 1, 2009, the pro forma effect on our 2009 net revenues, income from continuing operations, income from continuing operations per basic and diluted share, net income attributable to UHS and net income attributable to UHS per basic and diluted share was immaterial. Assuming the acquisition occurred on January 1, 2008, the pro forma effect on our 2008 net revenues, income from continuing operations, income from continuing operations per basic and diluted share, net income attributable to UHS and net income attributable to UHS per basic and diluted share was immaterial. 2009 Divestitures of Assets and Businesses: During 2009, we received $10 million from the divestiture of assets and businesses, including the following: <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the sale of the real property assets of a medical office building on the campus of a previously divested acute care facility located in Pennsylvania, and; </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the sale of our ownership interest in an outpatient surgery center </td></tr></table> Year ended December 31, 2008: 2008 Acquisitions of Assets and Businesses: During 2008, we spent $23 million on the acquisition of businesses and real property, including the following: <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the acquisition of a 76-bed behavioral health facility located in Lawrenceville, Georgia, and; </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the acquisition of previously leased real property assets of a behavioral health facility located in Nevada. </td></tr></table> The aggregate net purchase price of the facilities was allocated to assets and liabilities based on their estimated fair values as follows: <table border="0" cellspacing="0" cellpadding="0" width="84%" align="center"> <tr><td width="88%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">Amount (000s)</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Working capital, net</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,000</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr><td valign="top"> Property, plant & equipment</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">13,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Goodwill</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">11,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td style="border-top: #000000 1px solid;" valign="bottom"> </td> <td> </td></tr> <tr><td valign="top"> Cash paid in 2008 for acquisitions</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">23,000</td> <td valign="bottom" nowrap="nowrap"> </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td style="border-top: #000000 3px double;" valign="bottom"> </td> <td> </td></tr></table> Assuming the acquisition of the behavioral health facility located in Georgia occurred on January 1, 2008, the pro forma effect on our 2008 net revenues, income from continuing operations, income from continuing operations per basic and diluted share, net income attributable to UHS and net income attributable to UHS per basic and diluted share was immaterial. Also during 2008, we spent a combined $2 million to purchase/repurchase minority ownership interests in two outpatient surgery centers. We also received $2 million of net settlement proceeds related to a prior year acquisition. 2008 Divestiture of Assets and Businesses: During 2008, we received $82 million from the divestiture of assets and businesses, including the following: <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the sale of the assets and operations of Central Montgomery Medical Center, a 125-bed acute care facility located in Lansdale, Pennsylvania; </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the sale of our ownership interest in a third-party provider of supply chain services, and; </td></tr></table> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"> the sale of our ownership interest in an outpatient surgery center and certain other real property assets. </td></tr></table> In addition to the $13 million pre-tax gain recording during 2008 on the sale Central Montgomery Medical Center, which is included in income/(loss) from discontinued operations, net of income tax expense, our 2008 income from continuing operations includes a combined pre-tax gain of $8 million from the sale of our ownership interest in a third-party provider of supply chain services and the sale our ownership interest in an outpatient surgery center and certain other real property assets. </div>

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3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 9/20/11  SEC                               UPLOAD¶     9/21/17    1:45K  Universal Health Services Inc.
 8/09/11  SEC                               UPLOAD¶     9/21/17    1:50K  Universal Health Services Inc.
 7/06/11  SEC                               UPLOAD¶     9/21/17    1:61K  Universal Health Services Inc.

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Filing Submission 0001193125-11-050142 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Universal Health Services Inc – ‘10-K’ for 12/31/10 – ‘XML.R10’

On: Monday, 2/28/11, at 5:02pm ET · For: 12/31/10 · Accession #: 1193125-11-50142 · File #: 1-10765

Previous ‘10-K’: ‘10-K’ on 2/25/10 for 12/31/09 · Next: ‘10-K/A’ on 9/8/11 for 12/31/10 · Latest: ‘10-K’ on 2/27/24 for 12/31/23 · 3 References: By: SEC – ‘UPLOAD’ on 9/20/11 By: SEC – ‘UPLOAD’ on 8/9/11 By: SEC – ‘UPLOAD’ on 7/6/11

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘XML.R10’ — Acquisitions and Divestitures

This Financial Report is an XBRL XML File.

3 Subsequent Filings that Reference this Filing

Previous ‘10-K’: ‘10-K’ on 2/25/10 for 12/31/09 · Next: ‘10-K/A’ on 9/8/11 for 12/31/10 · Latest: ‘10-K’ on 2/27/24 for 12/31/23 · 3 References:

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents