Company: UHS
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027785
Chunk: 116

Company: UNIVERSAL HEALTH SERVICES INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 116
---
.0
    %

    7,788

    0.1
    %

    Income before income taxes
     
    $
    835,347

    9.4
    %
     
    $
    540,345

    6.7
    %

During 2024, as compared to 2023, net revenues from our acute care hospital services increased by $841 million, or 10.4%, due to: (i) the $674 million, or 8.5% increase in Same Facility revenues, as discussed above; (ii) a $187 million increase in provider tax assessments (which had no impact on income before income taxes since the amounts offset between net revenues and other operating 

49

expenses), and; (iii) $20 million of other combined net decreases consisting primarily of decreased revenues at Desert Springs Hospital.              

Income before income taxes increased by $295 million, or 54.6%, to $835 million, or 9.4% of net revenues during 2024, as compared to $540 million, or 6.7% of net revenues during 2023. The increase resulted from the $301 million, or 54%, increase in income before income taxes at our acute care hospital services, on a Same Facility basis, as discussed above, and $6 million of other combined net decreases resulting primarily from the losses incurred at the newly constructed 150-bed West Henderson Hospital located in Las Vegas, Nevada, that was completed and opened during the fourth quarter of 2024.    

During 2024, as compared to 2023, salaries, wages and benefits expense increased by $105 million, or 3.1%. The increase was due primarily to the above-mentioned $115 million increase related to our acute care hospital services, on a Same Facility basis, partially offset by a combined other net decrease of $10 million (consisting primarily of a decrease related to Desert Springs Hospital, partially offset by an increase related to West Henderson Hospital).

Other operating expenses increased $396 million, or 16.9%, during 2024 as compared to 2023. The increase was due primarily to the $214 million above-mentioned increase related to our acute care hospital services, on a Same Facility basis, as well as the above-mentioned $187 million increase in provider tax assessments.    

Supplies expense increased by $42 million, or 3.2%, during 2024 as compared to 2023. The