Company: UHS
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027785
Chunk: 337

Company: UNIVERSAL HEALTH SERVICES INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 337
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 pursuant to the tranche A term loan facility, to $1.2 billion from $2.2 billion previously, utilizing the proceeds generated from the September, 2024, issuance of the below-mentioned senior notes due in 2029 and 2034.

(b.)In September, 2020, we completed the offering of $800 million aggregate principal amount of 2.65% Senior Notes due in 2030.  

(c.)In August, 2021, we completed the offering of $700 million aggregate principal amount of 1.65% Senior Notes due in 2026.

(d.)In August, 2021, we completed the offering of $500 million aggregate principal amount of 2.65% Senior Notes due in 2032.

(e.)On September 26, 2024, we completed the offering of $500 million aggregate principal amount of 4.625% Senior Notes due in 2029.

(f.)On September 26, 2024, we completed the offering of $500 million aggregate principal amount of 5.050% Senior Notes due in 2034.

Interest expense decreased by $21 million during 2024 to $186 million as compared to $207 million during 2023. The decrease was primarily due to: (i) a net $13 million decrease in aggregate interest expense on our revolving credit, term loan A and senior notes, resulting from a decrease in our aggregate average cost of borrowings pursuant to these facilities (4.65% during 2024 as compared to 4.8% during 2023), as well as a decrease in the aggregate average outstanding borrowings ($4.47 billion during 2024 as compared to $4.63 billion during 2023); (ii) a $15 million decrease resulting from an increase in capitalized interest on major projects,  partially offset by; (iii) a net $7 million increase in other combined interest expenses. 

The average effective interest rate, including amortization of deferred financing costs, on borrowings outstanding under our revolving credit, term loan A and senior notes, which amounted to approximately $4.47 billion as of 2024 and $4.63 billion as of 2023, were 4.8% during 2024 and 4.9% during 2023.             

Provision for Asset Impairments   

67

Our financial statements for the year ended December 31, 2022, include a pre-tax provision for asset impairment of