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10-Q Filing

COMMUNITY HEALTH SYSTEMS INC CIK: 1108109 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001564590-23-006841
Period End Date 20230331
Filing Date 20230502
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance cyh-10q_20230331_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
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $144.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $118.00M USD Point-in-time
Patient accounts receivable AccountsReceivableNetCurrent $2.04B USD Point-in-time
Patient accounts receivable AccountsReceivableNetCurrent $2.04B 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 $345.00M 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
Supplies Supplies $353.00M USD Point-in-time
Prepaid income taxes PrepaidTaxes $99.00M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 134.70M shares Point-in-time
Prepaid income taxes PrepaidTaxes $79.00M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 136.75M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 134.70M shares Point-in-time
Prepaid expenses and taxes PrepaidExpensesAndTaxes $237.00M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 136.75M shares Point-in-time
Prepaid expenses and taxes PrepaidExpensesAndTaxes $276.00M USD Point-in-time
Other current assets OtherAssetsCurrent $227.00M USD Point-in-time
Other current assets OtherAssetsCurrent $235.00M USD Point-in-time
Total current assets AssetsCurrent $3.08B USD Point-in-time
Total current assets AssetsCurrent $3.11B USD Point-in-time
Property and equipment PropertyPlantAndEquipmentGross $9.64B USD Point-in-time
Property and equipment PropertyPlantAndEquipmentGross $9.56B USD Point-in-time
Less accumulated depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $4.27B USD Point-in-time
Less accumulated depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $4.30B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $5.37B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $5.25B USD Point-in-time
Goodwill Goodwill $4.17B USD Point-in-time
Goodwill Goodwill $4.05B USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $49.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $49.00M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $2.01B USD Point-in-time
Other assets, net OtherAssetsNoncurrent $2.15B USD Point-in-time
Total assets Assets $14.62B USD Point-in-time
Total assets Assets $14.67B USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $39.00M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $21.00M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $138.00M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $148.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $773.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $712.00M USD Point-in-time
Employee compensation EmployeeRelatedLiabilitiesCurrent $637.00M USD Point-in-time
Employee compensation EmployeeRelatedLiabilitiesCurrent $596.00M USD Point-in-time
Accrued interest InterestPayableCurrent $184.00M USD Point-in-time
Accrued interest InterestPayableCurrent $189.00M USD Point-in-time
Other OtherAccruedLiabilitiesCurrent $418.00M USD Point-in-time
Other OtherAccruedLiabilitiesCurrent $463.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.19B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.13B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $11.70B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $11.61B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $354.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $351.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $588.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $605.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $647.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $644.00M USD Point-in-time
Total liabilities Liabilities $15.41B USD Point-in-time
Total liabilities Liabilities $15.40B USD Point-in-time
Redeemable noncontrolling interests in equity of consolidated subsidiaries RedeemableNoncontrollingInterestEquityFairValue $561.00M USD Point-in-time
Redeemable noncontrolling interests in equity of consolidated subsidiaries RedeemableNoncontrollingInterestEquityFairValue $541.00M 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; 136,749,427 shares issued and outstanding at March 31, 2023, and 134,703,717 shares issued and outstanding at December 31, 2022 CommonStockValue $1.00M USD Point-in-time
Common stock, $.01 par value per share, 300,000,000 shares authorized; 136,749,427 shares issued and outstanding at March 31, 2023, and 134,703,717 shares issued and outstanding at December 31, 2022 CommonStockValue $1.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.08B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.05B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-21.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-18.00M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-3.48B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-3.43B USD Point-in-time
Total Community Health Systems, Inc. stockholders deficit StockholdersEquity $-1.37B USD Point-in-time
Total Community Health Systems, Inc. stockholders deficit StockholdersEquity $-1.45B USD Point-in-time
Noncontrolling interests in equity of consolidated subsidiaries MinorityInterest $92.00M USD Point-in-time
Noncontrolling interests in equity of consolidated subsidiaries MinorityInterest $93.00M USD Point-in-time
Total stockholders deficit StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.27B USD Point-in-time
Total stockholders deficit StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.29B USD Point-in-time
Total stockholders deficit StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.31B USD Point-in-time
Total stockholders deficit StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.35B USD Point-in-time
Total liabilities and stockholders deficit LiabilitiesAndStockholdersEquity $14.67B USD Point-in-time
Total liabilities and stockholders deficit LiabilitiesAndStockholdersEquity $14.62B USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Net operating revenues Revenues $3.11B USD 1 Quarter
Net operating revenues Revenues $3.11B USD 1 Quarter
Salaries and benefits LaborAndRelatedExpense $1.32B USD 1 Quarter
Salaries and benefits LaborAndRelatedExpense $1.36B USD 1 Quarter
Supplies CostOfGoodsAndServicesSold $499.00M USD 1 Quarter
Supplies CostOfGoodsAndServicesSold $507.00M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $835.00M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $853.00M USD 1 Quarter
Lease cost and rent OperatingLeaseExpense $81.00M USD 1 Quarter
Lease cost and rent OperatingLeaseExpense $77.00M USD 1 Quarter
Pandemic relief funds PandemicReliefFunds $47.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $128.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $132.00M USD 1 Quarter
Impairment and (gain) loss on sale of businesses, net AssetImpairmentCharges $-22.00M USD 1 Quarter
Impairment and (gain) loss on sale of businesses, net AssetImpairmentCharges $6.00M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $2.84B USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $2.90B USD 1 Quarter
Income from operations OperatingIncomeLoss $210.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $270.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-217.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-207.00M USD 1 Quarter
Loss from early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-5.00M USD 1 Quarter
Equity in earnings of unconsolidated affiliates IncomeLossFromEquityMethodInvestments $3.00M USD 1 Quarter
Equity in earnings of unconsolidated affiliates IncomeLossFromEquityMethodInvestments $5.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $6.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $53.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $26.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $23.00M USD 1 Quarter
Net (loss) income ProfitLoss $30.00M USD 1 Quarter
Net (loss) income ProfitLoss $-20.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $31.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $31.00M USD 1 Quarter
Net loss attributable to Community Health Systems, Inc. stockholders NetIncomeLoss $-1.00M USD 1 Quarter
Net loss attributable to Community Health Systems, Inc. stockholders NetIncomeLoss $-51.00M USD 1 Quarter
Basic EarningsPerShareBasic $-0.01 USD 1 Quarter
Basic EarningsPerShareBasic $-0.40 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.40 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.01 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 129.69M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 127.82M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 127.82M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 129.69M shares 1 Quarter
Cash Flow Statement 69 line items
Line Item Tag Value Unit Period
Net (loss) income ProfitLoss $30.00M USD 1 Quarter
Net (loss) income ProfitLoss $-20.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $128.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $132.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $7.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $22.00M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $5.00M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $6.00M USD 1 Quarter
Impairment and (gain) loss on sale of businesses, net AssetImpairmentCharges $-22.00M USD 1 Quarter
Impairment and (gain) loss on sale of businesses, net AssetImpairmentCharges $6.00M USD 1 Quarter
Loss from early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-5.00M USD 1 Quarter
Other non-cash expenses, net OtherNoncashIncomeExpense $-45.00M USD 1 Quarter
Other non-cash expenses, net OtherNoncashIncomeExpense $-42.00M USD 1 Quarter
Patient accounts receivable IncreaseDecreaseInAccountsReceivable $2.00M USD 1 Quarter
Patient accounts receivable IncreaseDecreaseInAccountsReceivable $17.00M USD 1 Quarter
Supplies, prepaid expenses and other current assets IncreaseDecreaseInSuppliesPrepaidExpensesAndOtherCurrentAssets $40.00M USD 1 Quarter
Supplies, prepaid expenses and other current assets IncreaseDecreaseInSuppliesPrepaidExpensesAndOtherCurrentAssets $50.00M USD 1 Quarter
Accounts payable, accrued liabilities and income taxes IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndIncomeTaxes $-32.00M USD 1 Quarter
Accounts payable, accrued liabilities and income taxes IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndIncomeTaxes $-23.00M USD 1 Quarter
Other IncreaseDecreaseInOtherOperatingCapitalNet $60.00M USD 1 Quarter
Other IncreaseDecreaseInOtherOperatingCapitalNet $56.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $5.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $101.00M USD 1 Quarter
Acquisitions of facilities and other related businesses PaymentsToAcquireBusinessesNetOfCashAcquired $8.00M USD 1 Quarter
Acquisitions of facilities and other related businesses PaymentsToAcquireBusinessesNetOfCashAcquired $1.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $122.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $97.00M USD 1 Quarter
Proceeds from disposition of hospitals and other ancillary operations ProceedsFromDivestitureOfBusinessesNetOfCashDivested $92.00M USD 1 Quarter
Proceeds from disposition of hospitals and other ancillary operations ProceedsFromDivestitureOfBusinessesNetOfCashDivested $2.00M USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $5.00M USD 1 Quarter
Purchases of available-for-sale debt securities and equity securities PaymentsToAcquireInvestments $26.00M USD 1 Quarter
Purchases of available-for-sale debt securities and equity securities PaymentsToAcquireInvestments $31.00M USD 1 Quarter
Proceeds from sales of available-for-sale debt securities and equity securities ProceedsFromSaleMaturityAndCollectionsOfInvestments $61.00M USD 1 Quarter
Proceeds from sales of available-for-sale debt securities and equity securities ProceedsFromSaleMaturityAndCollectionsOfInvestments $24.00M USD 1 Quarter
Purchases of investments in unconsolidated affiliates PaymentsToAcquireEquityMethodInvestments $4.00M USD 1 Quarter
Purchases of investments in unconsolidated affiliates PaymentsToAcquireEquityMethodInvestments $5.00M USD 1 Quarter
Increase in other investments PaymentsForProceedsFromOtherInvestingActivities $16.00M USD 1 Quarter
Increase in other investments PaymentsForProceedsFromOtherInvestingActivities $14.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-121.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-19.00M USD 1 Quarter
Repurchase of restricted stock shares for payroll tax withholding requirements PaymentsRelatedToTaxWithholdingForShareBasedCompensation $8.00M USD 1 Quarter
Repurchase of restricted stock shares for payroll tax withholding requirements PaymentsRelatedToTaxWithholdingForShareBasedCompensation $4.00M USD 1 Quarter
Deferred financing costs and other debt-related costs PaymentsOfFinancingCosts $73.00M USD 1 Quarter
Proceeds from noncontrolling investors in joint ventures ProceedsFromMinorityShareholders $2.00M USD 1 Quarter
Proceeds from noncontrolling investors in joint ventures ProceedsFromMinorityShareholders $1.00M USD 1 Quarter
Redemption of noncontrolling investments in joint ventures PaymentsToMinorityShareholders $1.00M USD 1 Quarter
Distributions to noncontrolling investors in joint ventures PaymentsOfDividendsMinorityInterest $29.00M USD 1 Quarter
Distributions to noncontrolling investors in joint ventures PaymentsOfDividendsMinorityInterest $44.00M USD 1 Quarter
Other borrowings ProceedsFromIssuanceOfOtherLongTermDebt $29.00M USD 1 Quarter
Other borrowings ProceedsFromIssuanceOfOtherLongTermDebt $27.00M USD 1 Quarter
Issuance of long-term debt ProceedsFromIssuanceOfSubordinatedLongTermDebt $1.53B USD 1 Quarter
Proceeds from ABL Facility ProceedsFromAccountsReceivableSecuritization $815.00M USD 1 Quarter
Repayments of long-term indebtedness RepaymentsOfLongTermDebt $1.48B USD 1 Quarter
Repayments of long-term indebtedness RepaymentsOfLongTermDebt $757.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-27.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $40.00M USD 1 Quarter
Net change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $26.00M USD 1 Quarter
Net change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-47.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $507.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $118.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $144.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $460.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $507.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $118.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $144.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $460.00M USD Point-in-time
Interest payments InterestPaidNet $197.00M USD 1 Quarter
Interest payments InterestPaidNet $242.00M USD 1 Quarter
Income tax payments, net IncomeTaxesPaidNet $-2.00M USD 1 Quarter
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net (loss) income ProfitLoss $30.00M USD 1 Quarter
Net (loss) income ProfitLoss $-20.00M USD 1 Quarter
Net change in fair value of available-for-sale debt securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-8.00M 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 income (loss) OtherComprehensiveIncomeLossNetOfTax $3.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-8.00M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $22.00M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-17.00M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $31.00M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $31.00M USD 1 Quarter
Comprehensive loss attributable to Community Health Systems, Inc. stockholders ComprehensiveIncomeNetOfTax $-9.00M USD 1 Quarter
Comprehensive loss attributable to Community Health Systems, Inc. stockholders ComprehensiveIncomeNetOfTax $-48.00M USD 1 Quarter

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

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