Company: UHS
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027785
Chunk: 109

Company: UNIVERSAL HEALTH SERVICES INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 109
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    91.8
    %

    Income from operations

    1,681,814

    10.6
    %

    1,175,381

    8.2
    %

    Interest expense, net

    186,109

    1.2
    %

    206,674

    1.4
    %

    Other (income) expense, net

    (2,231
    )

    0.0
    %

    28,281

    0.2
    %

    Income before income taxes

    1,497,936

    9.5
    %

    940,426

    6.6
    %

    Provision for income taxes

    334,827

    2.1
    %

    221,119

    1.5
    %

    Net income

    1,163,109

    7.3
    %

    719,307

    5.0
    %

    Less: Net income (loss) attributable      to noncontrolling interests

    21,012

    0.1
    %

    1,512

    0.0
    %

    Net income attributable to UHS
     
    $
    1,142,097

    7.2
    %
     
    $
    717,795

    5.0
    %

Net revenues increased by 10.8%, or $1.55 billion, to $15.83 billion during 2024 as compared to $14.28 billion during 2023. The increase in net revenues was primarily attributable to:

•a $1.32 billion or 9.5% increase in net revenues generated from our acute care and behavioral health care operations owned during both periods (which we refer to as “same facility”), and;

•$222 million of other combined net increases consisting primarily of a $239 million increase in provider tax assessments which had no impact on income before income taxes since amounts offset between net revenues and other operating expenses.     

Income before income taxes increased by $558 million, or 59%, to $1.50 billion during 2024 as compared to $940 million during 2023. The increase was attributable to:

•an increase of $295 million at our acute care facilities, as discussed below in Acute Care Hospital Services;