Company: UHS
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027785
Chunk: 234

Company: UNIVERSAL HEALTH SERVICES INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 234
---
,740

        State

        45,780

        29,677

        33,423

        368,287

        239,077

        226,829

        Deferred

        Federal

        (28,499
        )

        (19,716
        )

        (9,935
        )

        Foreign

        (1,318
        )

        3,367

        (1,509
        )

        State

        (3,643
        )

        (1,609
        )

        (6,107
        )

        (33,460
        )

        (17,958
        )

        (17,551
        )

        Total
         
        $
        334,827

        $
        221,119

        $
        209,278

      Our provision for income taxes for the years ended December 31, 2024, 2023 and 2022 included tax benefits of $13 million and tax expenses of $5 million and $1 million, respectively, related to employee share-based payments. Excess tax benefits (when the deductible amount related to the settlement of employee equity awards for tax purposes exceeds the cumulative compensation cost recognized for financial reporting purposes) and deficiencies, if applicable, are recorded as a component of our tax provision.The foreign provision for income taxes is based on foreign pre-tax earnings of $80 million during each of 2024 and 2023 and $76 million in 2022.  In the future, we anticipate repatriating only previously taxed foreign earnings subjected as well as any future earnings that would qualify for a full dividend received deduction for distributions post-December 31, 2017. As of December 31, 2024, the amount of previously taxed earnings and earnings that would qualify for a full dividend received deduction total $79 million. At this time, there are no material tax effects related to future cash repatriation of undistributed foreign earnings. As such, we have not recognized a deferred tax liability related to existing undistributed earnings.A reconciliation between the federal statutory rate and the effective tax rate is as follows:

        Year Ended December 31,

        2024

        2023

        2022

        Federal statutory rate

        21.0
        %

        21.0
        %

        21.0
        %

        State taxes, net of federal income tax benefit

        2.3