Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
![Actual Growth Rate
Changes in revenue
Base-revenue (beginning-of-period revenue)
Actual Growth Rate (%)
2019
2018
2017
2016
2015](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F397cbba1-1c47-41cd-9222-f8e26c53e588%2Fca18bdd3-94b7-49ac-8012-658e4d9e05b4%2Fr3qjshm_processed.png&w=3840&q=75)
Transcribed Image Text:Actual Growth Rate
Changes in revenue
Base-revenue (beginning-of-period revenue)
Actual Growth Rate (%)
2019
2018
2017
2016
2015
![Assets
Current assets
Cash and cash equivalents
Accounts receivable, net
Supplies
Other current assets
Total current assets
Property and equipment
Accumulated depreciation
Net property and equipment
Goodwill
Deferred charges
Other
Total assets
Liabilities and equity
Current liabilities
Accounts payable
Accrued liabilities
Current maturities of long-term debt
Total current liabilities
Operating lease liabilities non-current
Long-term debt
Other non-current liabilities
Total liabilities
Total liabilities
Common stock
Cummulative dividends
Retained earnings
Other
Total equity
Total liabilities and equities
Revenue, net
Operating charges
Salaries, wages, and benefits
Other operating expenses
Supplies expense
Depreciation and amortization
Lease and rental expense
Total operating charges
Income from operations
Interest expense, net
Other (income) expense, net
Income before income taxes
Provision for income taxes
Net income
$61,268
1,560,847
Cost of debt (%)
Cost of equity (%)
Weighted average number of shares outstanding (thousand)
Dividends paid per share ($)
$105,220
1,509,909
159,889
148,206
133,930
174,467
1,915,934
1,937,802
1,798,002
9,106,377
8,563,455
7,518,348
(4,089,679) (3,715,515) (3,349,289)
5,016,698
3,869,760
4,847,940
3,844,628
4,169,059
3,825,157
6,373
859,285
8,772
626,338
9,787
959,823
$11,668,050 $11,265,480 $10,761,828
$446,957
1,028,883
87,550
1,563,390
270,076
3,896,577
359,336
6,089,379
867
(462,159)
5,933,504
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES
Consolidated Statements of Income for End-of-Year
(In thousands)
2019
2018
$11,378,259 $10,772,278
5,588,893
2,723,911
1,251,346
490,392
107,809
10,162,351
1,215,908
162,733
(13,162)
1,066,337
238,794
$827,543
$445,652
939,640
63,446
1,448,738
184,568
3,935,187
231,194
5,799,687
914
942
914
(409,156)
(371,814)
(409,156)
5,793,262
5,353,209
4,891,274
106,659
80,773
69,099
80,773
5,465,793
5,051,436
4,563,805
5,578,871
$11,668,250 $11,265,480 $10,761,828 $10,317,802
3.89%
7.52%
88,762
5,254,536
2,614,687
1,168,654
$0.60
453,045
106,094
9,597,016
1,175,262
154,956
(14,219)
1,034,525
236,642
$797,883
$74,423
1,500,898
136,177
86,504
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES
Additional Financial Information
3.89%
$441,984
860,431
545,619
1,848,034
61,664
3,494,390
306,304
5,710,392
7.52%
93,276
$0.40
4,980,637
2,493,062
1,105,096
447,765
103,127
9,129,687
1,280,178
145,169
19,009
1,116,000
363,697
$752,303
2017
2016
$10,409,865 $9,766,210
3.89%
$33,747
1,439,553
125,365
82,706
7.52%
$61,228
1,302,429
116,037
103,490
1,583,184
6,338,443
(2,983,481) (2,694,591)
4,052,238
3,643,852
3,784,106
3,596,114
95,652
1,681,371
7,035,719
$0.40
13,520
35,357
775,606
786,567
$10,317,802 $9,634,113
$439,672
771,806
105,895
1,317,373
131,227
4,030,230
275,167
5,753,997
4,585,530
2,359,339
1,031,337
416,608
91,985
8,484,799
1,281,411
125,053
44,762
1,111,596
409,187
$702,409
3.89%
LLLLLL
7.52%
97,208
$366,238
671,446
62,722
$0.40
1,100,406
558,409
3,387,303
278,834
5,324,952
983
(294,728)
4,566,521
36,385
4,309,161
$9,634,113
4,212,387
2,119,805
974,088
398,618
79,158
7,784,056
1,259,395
113,494
70,170
1,075,731
395,203
$680,528
3.89%
2015
2014
$9,043,451 $8,205,088
7.52%
$32,069
1,282,735
108,115
77,654
98,797
1,500,573
6,073,633
(2,532,341)
3,541,292
3,291,213
$0.40
40,319
601,046
$8,974,443
$336,447
778,061
68,319
1,182,827
1,421,766
2,310,215
268,555
5,183,363
987
(255,196)
4,015,387
29,902
3,791,080
$8,974,443
3,845,461
1,931,012
895,693
375,624
93,993
7,141,783
1,063,305
133,638
0
929,667
324,671
$604,996
3.89%
7.52%
98,826
$0.30](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F397cbba1-1c47-41cd-9222-f8e26c53e588%2Fca18bdd3-94b7-49ac-8012-658e4d9e05b4%2Fu9jycq_processed.png&w=3840&q=75)
Transcribed Image Text:Assets
Current assets
Cash and cash equivalents
Accounts receivable, net
Supplies
Other current assets
Total current assets
Property and equipment
Accumulated depreciation
Net property and equipment
Goodwill
Deferred charges
Other
Total assets
Liabilities and equity
Current liabilities
Accounts payable
Accrued liabilities
Current maturities of long-term debt
Total current liabilities
Operating lease liabilities non-current
Long-term debt
Other non-current liabilities
Total liabilities
Total liabilities
Common stock
Cummulative dividends
Retained earnings
Other
Total equity
Total liabilities and equities
Revenue, net
Operating charges
Salaries, wages, and benefits
Other operating expenses
Supplies expense
Depreciation and amortization
Lease and rental expense
Total operating charges
Income from operations
Interest expense, net
Other (income) expense, net
Income before income taxes
Provision for income taxes
Net income
$61,268
1,560,847
Cost of debt (%)
Cost of equity (%)
Weighted average number of shares outstanding (thousand)
Dividends paid per share ($)
$105,220
1,509,909
159,889
148,206
133,930
174,467
1,915,934
1,937,802
1,798,002
9,106,377
8,563,455
7,518,348
(4,089,679) (3,715,515) (3,349,289)
5,016,698
3,869,760
4,847,940
3,844,628
4,169,059
3,825,157
6,373
859,285
8,772
626,338
9,787
959,823
$11,668,050 $11,265,480 $10,761,828
$446,957
1,028,883
87,550
1,563,390
270,076
3,896,577
359,336
6,089,379
867
(462,159)
5,933,504
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES
Consolidated Statements of Income for End-of-Year
(In thousands)
2019
2018
$11,378,259 $10,772,278
5,588,893
2,723,911
1,251,346
490,392
107,809
10,162,351
1,215,908
162,733
(13,162)
1,066,337
238,794
$827,543
$445,652
939,640
63,446
1,448,738
184,568
3,935,187
231,194
5,799,687
914
942
914
(409,156)
(371,814)
(409,156)
5,793,262
5,353,209
4,891,274
106,659
80,773
69,099
80,773
5,465,793
5,051,436
4,563,805
5,578,871
$11,668,250 $11,265,480 $10,761,828 $10,317,802
3.89%
7.52%
88,762
5,254,536
2,614,687
1,168,654
$0.60
453,045
106,094
9,597,016
1,175,262
154,956
(14,219)
1,034,525
236,642
$797,883
$74,423
1,500,898
136,177
86,504
UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES
Additional Financial Information
3.89%
$441,984
860,431
545,619
1,848,034
61,664
3,494,390
306,304
5,710,392
7.52%
93,276
$0.40
4,980,637
2,493,062
1,105,096
447,765
103,127
9,129,687
1,280,178
145,169
19,009
1,116,000
363,697
$752,303
2017
2016
$10,409,865 $9,766,210
3.89%
$33,747
1,439,553
125,365
82,706
7.52%
$61,228
1,302,429
116,037
103,490
1,583,184
6,338,443
(2,983,481) (2,694,591)
4,052,238
3,643,852
3,784,106
3,596,114
95,652
1,681,371
7,035,719
$0.40
13,520
35,357
775,606
786,567
$10,317,802 $9,634,113
$439,672
771,806
105,895
1,317,373
131,227
4,030,230
275,167
5,753,997
4,585,530
2,359,339
1,031,337
416,608
91,985
8,484,799
1,281,411
125,053
44,762
1,111,596
409,187
$702,409
3.89%
LLLLLL
7.52%
97,208
$366,238
671,446
62,722
$0.40
1,100,406
558,409
3,387,303
278,834
5,324,952
983
(294,728)
4,566,521
36,385
4,309,161
$9,634,113
4,212,387
2,119,805
974,088
398,618
79,158
7,784,056
1,259,395
113,494
70,170
1,075,731
395,203
$680,528
3.89%
2015
2014
$9,043,451 $8,205,088
7.52%
$32,069
1,282,735
108,115
77,654
98,797
1,500,573
6,073,633
(2,532,341)
3,541,292
3,291,213
$0.40
40,319
601,046
$8,974,443
$336,447
778,061
68,319
1,182,827
1,421,766
2,310,215
268,555
5,183,363
987
(255,196)
4,015,387
29,902
3,791,080
$8,974,443
3,845,461
1,931,012
895,693
375,624
93,993
7,141,783
1,063,305
133,638
0
929,667
324,671
$604,996
3.89%
7.52%
98,826
$0.30
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