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10-Q Filing

COMMUNITY HEALTH SYSTEMS INC CIK: 1108109 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001564590-21-021968
Period End Date 20210331
Filing Date 20210429
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance cyh-10q_20210331_htm.xml
Filing Contents
Balance Sheet 88 line items
Line Item Tag Value Unit Period
Preferred stock, par value per share PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value per share PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 100.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 100.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.25B USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.68B USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Patient accounts receivable AccountsReceivableNetCurrent $1.93B USD Point-in-time
Patient accounts receivable AccountsReceivableNetCurrent $1.96B USD Point-in-time
Common stock, par value per share CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value per share CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Supplies Supplies $336.00M USD Point-in-time
Supplies Supplies $335.00M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Prepaid income taxes PrepaidTaxes $50.00M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 129.61M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 132.15M shares Point-in-time
Prepaid income taxes PrepaidTaxes $50.00M USD Point-in-time
Prepaid expenses and taxes PrepaidExpensesAndTaxes $184.00M USD Point-in-time
Prepaid expenses and taxes PrepaidExpensesAndTaxes $190.00M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 129.61M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 132.15M shares Point-in-time
Other current assets OtherAssetsCurrent $338.00M USD Point-in-time
Other current assets OtherAssetsCurrent $316.00M USD Point-in-time
Total current assets AssetsCurrent $4.51B USD Point-in-time
Total current assets AssetsCurrent $4.10B USD Point-in-time
Property and equipment PropertyPlantAndEquipmentGross $9.35B USD Point-in-time
Property and equipment PropertyPlantAndEquipmentGross $9.40B USD Point-in-time
Less accumulated depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $4.09B USD Point-in-time
Less accumulated depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $4.03B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $5.32B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $5.30B USD Point-in-time
Goodwill Goodwill $4.22B USD Point-in-time
Goodwill Goodwill $4.22B USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $59.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $59.00M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $1.91B USD Point-in-time
Other assets, net OtherAssetsNoncurrent $1.90B USD Point-in-time
Total assets Assets $16.01B USD Point-in-time
Total assets Assets $15.59B USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $20.00M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $123.00M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $131.00M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $142.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $730.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $783.00M USD Point-in-time
Employee compensation EmployeeRelatedLiabilitiesCurrent $637.00M USD Point-in-time
Employee compensation EmployeeRelatedLiabilitiesCurrent $667.00M USD Point-in-time
Accrued interest InterestPayableCurrent $159.00M USD Point-in-time
Accrued interest InterestPayableCurrent $150.00M USD Point-in-time
Other OtherAccruedLiabilitiesCurrent $980.00M USD Point-in-time
Other OtherAccruedLiabilitiesCurrent $1.00B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.81B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.71B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $11.90B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $12.09B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $29.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $96.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $524.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $528.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.48B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.60B USD Point-in-time
Total liabilities Liabilities $16.71B USD Point-in-time
Total liabilities Liabilities $17.06B USD Point-in-time
Redeemable noncontrolling interests in equity of consolidated subsidiaries RedeemableNoncontrollingInterestEquityFairValue $484.00M USD Point-in-time
Redeemable noncontrolling interests in equity of consolidated subsidiaries RedeemableNoncontrollingInterestEquityFairValue $481.00M USD Point-in-time
Preferred stock, $.01 par value per share, 100,000,000 shares authorized; none issued PreferredStockValue - USD Point-in-time
Preferred stock, $.01 par value per share, 100,000,000 shares authorized; none issued PreferredStockValue - USD Point-in-time
Common stock, $.01 par value per share, 300,000,000 shares authorized; 132,147,878 shares issued and outstanding at March 31, 2021, and 129,612,117 shares issued and outstanding at December 31, 2020 CommonStockValue $1.00M USD Point-in-time
Common stock, $.01 par value per share, 300,000,000 shares authorized; 132,147,878 shares issued and outstanding at March 31, 2021, and 129,612,117 shares issued and outstanding at December 31, 2020 CommonStockValue $1.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.10B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.09B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-16.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-13.00M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-3.71B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-3.77B USD Point-in-time
Total Community Health Systems, Inc. stockholders deficit StockholdersEquity $-1.68B USD Point-in-time
Total Community Health Systems, Inc. stockholders deficit StockholdersEquity $-1.62B USD Point-in-time
Noncontrolling interests in equity of consolidated subsidiaries MinorityInterest $86.00M USD Point-in-time
Noncontrolling interests in equity of consolidated subsidiaries MinorityInterest $87.00M USD Point-in-time
Total stockholders deficit StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-2.14B USD Point-in-time
Total stockholders deficit StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-2.14B USD Point-in-time
Total stockholders deficit StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.54B USD Point-in-time
Total stockholders deficit StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.59B USD Point-in-time
Total liabilities and stockholders deficit LiabilitiesAndStockholdersEquity $16.01B USD Point-in-time
Total liabilities and stockholders deficit LiabilitiesAndStockholdersEquity $15.59B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Net operating revenues Revenues $3.01B USD 1 Quarter
Net operating revenues Revenues $3.02B USD 1 Quarter
Salaries and benefits LaborAndRelatedExpense $1.30B USD 1 Quarter
Salaries and benefits LaborAndRelatedExpense $1.41B USD 1 Quarter
Supplies CostOfGoodsAndServicesSold $491.00M USD 1 Quarter
Supplies CostOfGoodsAndServicesSold $498.00M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $737.00M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $738.00M USD 1 Quarter
Government and other legal settlements and related costs GainLossRelatedToLitigationSettlement $-2.00M USD 1 Quarter
Lease cost and rent LeaseAndRentalExpense $78.00M USD 1 Quarter
Lease cost and rent LeaseAndRentalExpense $81.00M USD 1 Quarter
Pandemic relief funds PandemicReliefFunds $82.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $144.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $138.00M USD 1 Quarter
Impairment and (gain) loss on sale of businesses, net AssetImpairmentCharges $45.00M USD 1 Quarter
Impairment and (gain) loss on sale of businesses, net AssetImpairmentCharges $21.00M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $2.92B USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $2.69B USD 1 Quarter
Income from operations OperatingIncomeLoss $326.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $110.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-262.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-231.00M USD 1 Quarter
Loss from early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-71.00M USD 1 Quarter
Loss from early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-4.00M USD 1 Quarter
Equity in earnings of unconsolidated affiliates IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $10.00M USD 1 Quarter
Equity in earnings of unconsolidated affiliates IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $7.00M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-149.00M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $34.00M USD 1 Quarter
Provision for (benefit from) income taxes IncomeTaxExpenseBenefit $69.00M USD 1 Quarter
Provision for (benefit from) income taxes IncomeTaxExpenseBenefit $-183.00M USD 1 Quarter
Net (loss) income ProfitLoss $-35.00M USD 1 Quarter
Net (loss) income ProfitLoss $34.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $16.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $29.00M USD 1 Quarter
Net (loss) income attributable to Community Health Systems, Inc. stockholders NetIncomeLoss $-64.00M USD 1 Quarter
Net (loss) income attributable to Community Health Systems, Inc. stockholders NetIncomeLoss $18.00M USD 1 Quarter
Basic EarningsPerShareBasic $-0.51 USD 1 Quarter
Basic EarningsPerShareBasic $0.15 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.51 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.15 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 114.30M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 125.75M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 114.38M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 125.75M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net (loss) income ProfitLoss $-35.00M USD 1 Quarter
Net (loss) income ProfitLoss $34.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $144.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $138.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $68.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-184.00M USD 1 Quarter
Government and other legal settlements and related costs LossContingencyAccrualProvisionNonCash $2.00M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $8.00M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.00M USD 1 Quarter
Impairment and (gain) loss on sale of businesses, net AssetImpairmentCharges $45.00M USD 1 Quarter
Impairment and (gain) loss on sale of businesses, net AssetImpairmentCharges $21.00M USD 1 Quarter
Loss from early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-71.00M USD 1 Quarter
Loss from early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-4.00M USD 1 Quarter
Other non-cash expenses, net OtherNoncashIncomeExpense $-49.00M USD 1 Quarter
Other non-cash expenses, net OtherNoncashIncomeExpense $40.00M USD 1 Quarter
Patient accounts receivable IncreaseDecreaseInAccountsReceivable $-158.00M USD 1 Quarter
Patient accounts receivable IncreaseDecreaseInAccountsReceivable $34.00M USD 1 Quarter
Supplies, prepaid expenses and other current assets IncreaseDecreaseInSuppliesPrepaidExpensesAndOtherCurrentAssets $53.00M USD 1 Quarter
Supplies, prepaid expenses and other current assets IncreaseDecreaseInSuppliesPrepaidExpensesAndOtherCurrentAssets $2.00M USD 1 Quarter
Repayment/derecognition of Medicare accelerated payments RepaymentDerecognitionOfMedicareAcceleratedPayments $18.00M USD 1 Quarter
Accounts payable, accrued liabilities and income taxes IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndIncomeTaxes $-78.00M USD 1 Quarter
Accounts payable, accrued liabilities and income taxes IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndIncomeTaxes $-23.00M USD 1 Quarter
Other IncreaseDecreaseInOtherOperatingCapitalNet $53.00M USD 1 Quarter
Other IncreaseDecreaseInOtherOperatingCapitalNet $66.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $101.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $57.00M USD 1 Quarter
Acquisitions of facilities and other related businesses PaymentsToAcquireBusinessesNetOfCashAcquired $4.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $105.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $99.00M USD 1 Quarter
Proceeds from disposition of hospitals and other ancillary operations ProceedsFromDivestitureOfBusinessesNetOfCashDivested $2.00M USD 1 Quarter
Proceeds from disposition of hospitals and other ancillary operations ProceedsFromDivestitureOfBusinessesNetOfCashDivested $6.00M USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $2.00M USD 1 Quarter
Purchases of available-for-sale debt securities and equity securities PaymentsToAcquireInvestments $17.00M USD 1 Quarter
Purchases of available-for-sale debt securities and equity securities PaymentsToAcquireInvestments $22.00M USD 1 Quarter
Proceeds from sales of available-for-sale debt securities and equity securities ProceedsFromSaleMaturityAndCollectionsOfInvestments $26.00M USD 1 Quarter
Proceeds from sales of available-for-sale debt securities and equity securities ProceedsFromSaleMaturityAndCollectionsOfInvestments $21.00M USD 1 Quarter
Increase in other investments PaymentsForProceedsFromOtherInvestingActivities $23.00M USD 1 Quarter
Increase in other investments PaymentsForProceedsFromOtherInvestingActivities $16.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-120.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-109.00M USD 1 Quarter
Repurchase of restricted stock shares for payroll tax withholding requirements PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.00M USD 1 Quarter
Repurchase of restricted stock shares for payroll tax withholding requirements PaymentsRelatedToTaxWithholdingForShareBasedCompensation $5.00M USD 1 Quarter
Deferred financing costs and other debt-related costs PaymentsOfFinancingCosts $32.00M USD 1 Quarter
Deferred financing costs and other debt-related costs PaymentsOfFinancingCosts $220.00M USD 1 Quarter
Redemption of noncontrolling investments in joint ventures PaymentsToMinorityShareholders $2.00M USD 1 Quarter
Distributions to noncontrolling investors in joint ventures PaymentsOfDividendsMinorityInterest $30.00M USD 1 Quarter
Distributions to noncontrolling investors in joint ventures PaymentsOfDividendsMinorityInterest $21.00M USD 1 Quarter
Proceeds from sale-lease back SaleLeasebackTransactionNetProceedsFinancingActivities $2.00M USD 1 Quarter
Other borrowings ProceedsFromIssuanceOfOtherLongTermDebt $3.00M USD 1 Quarter
Other borrowings ProceedsFromIssuanceOfOtherLongTermDebt $14.00M USD 1 Quarter
Issuance of long-term debt ProceedsFromIssuanceOfSubordinatedLongTermDebt $2.87B USD 1 Quarter
Issuance of long-term debt ProceedsFromIssuanceOfSubordinatedLongTermDebt $1.46B USD 1 Quarter
Proceeds from ABL Facility ProceedsFromAccountsReceivableSecuritization $540.00M USD 1 Quarter
Repayments of long-term indebtedness RepaymentsOfLongTermDebt $3.03B USD 1 Quarter
Repayments of long-term indebtedness RepaymentsOfLongTermDebt $1.87B USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $82.00M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-406.00M USD 1 Quarter
Net change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-425.00M USD 1 Quarter
Net change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $30.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $216.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.68B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.25B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $246.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $216.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.68B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.25B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $246.00M USD Point-in-time
Interest payments InterestPaidNet $264.00M USD 1 Quarter
Interest payments InterestPaidNet $203.00M USD 1 Quarter
Income tax (payments) refunds, net IncomeTaxesPaidNet $2.00M USD 1 Quarter
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net (loss) income ProfitLoss $-35.00M USD 1 Quarter
Net (loss) income ProfitLoss $34.00M USD 1 Quarter
Net change in fair value of available-for-sale debt securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $2.00M USD 1 Quarter
Net change in fair value of available-for-sale debt securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-3.00M USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $-3.00M USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $2.00M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-38.00M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $36.00M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $29.00M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $16.00M USD 1 Quarter
Comprehensive (loss) income attributable to Community Health Systems, Inc. stockholders ComprehensiveIncomeNetOfTax $-67.00M USD 1 Quarter
Comprehensive (loss) income attributable to Community Health Systems, Inc. stockholders ComprehensiveIncomeNetOfTax $20.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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