Calculate the following financial ratios of the year 2012
1. Quick Ratio 2. Average collection period. 3. Inventory turnover 4. Fixed Asset Turnover Ratio 5. Non-operating gain ratio
CAMC HEALTH SYSTEM, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2013 AND 2012 In thousands 2013 2012 ASSETS CURRENT ASSETS: Cash and cash equivalents Short-term investments Current portion of assets limited as to use Patient receivables net of allowances for uncollectible $ 28,831 14,445 147,057 5,000 205,578 5,900 accounts of $19,982 in 2013 and $22,093 in 2012 Other receivables Estimated amounts due from third-party payors Inventories Prepaid expenses and other 106,601 10,138 7,751 17,555 8,644 118,887 13,084 11,096 18,730 7,069 90998335,368 361,46 282,403 20,669 Total current assets ASSETS LIMITED AS TO USE OTHER INVESTMENTS PROPERTY, EQUIPMENT AND INFORMATION SYSTEMS 20.74240A00 an Buildings and improvements Equipment and software costs Construction in progress 42,797 371,111 477,497 40,723 41,869 351,433 510,151 20,401 Total property, equipment and information systems 932,128 923,854 Less accumulated depreciation and amortization (616,601)(627,393) Property, equipment and information systems _net 315,527 296,461 OTHER ASSETS 6,950 19.0 TOTAL $1,105,678 953,989 (Continued) CAMC HEALTH SYSTEM, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2013 AND 2012 In thousands) 2013 2012 LIABILITIES AND NET ASSETS CURRENT LIABILITIES: Accounts payable and accrued expenses Self-insurance reserves Derivative obligation Accrued payroll and payroll-related expenses Estimated amounts due to third-party payors Current maturities of long-term debt and capital lease obligations $55,295 S51,198 5,000 25,296 41,319 19,030 8,143 5,900 14,170 41,638 16,990 2,667 Total current liabilities 146,660149960 LONG-TERM LIABILITIES: Long-term debt and capital lease obligations_ less current maturities Retirement obligations Self-insurance reserves Other 404,235 13,845 13,378 10,610 333,130 13,531 15,426 10,485 Total long-term liabilities 442,068 372.572 Total liabilities 588,728 522,558 NET ASSETS 370,938 Unrestricted Noncontrolling interest in joint ventures 447,356 358 447,714 47,776 317 371,255 38,946 Unrestrictedtotal Temporarily restricted Permanently restricted 21,460 21,230 516,950 431431 S1,105,678 S 953,989 Total net assets TOTAL See notes to consolidated financial statements. (Concluded) CAMC HEALTH SYSTEM, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012 In thousands 2013 2012 UNRESTRICTED REVENUE AND OTHER SUPPORT Patient service revenue (net of contractual allowances and discounts) Provision for bad debts $961,721 938,315 (85,515)(78.774) Net patient service revenues less provision for bad debts 876,206 859,541 Other revenue Investment incomenet Net assets released from restrictions 40,996 49,822 1,845 41,045 33,376 1,701 Total unrestricted revenue and other support 968869 935,003 EXPENSES Salaries and wages Emplovee benefits Professional compensation and fees Supplies and other Depreciation and amortization Medicaid provider tax Interest and debt expense Change in fair value of derivatives 346,445 104,261 19,614 362,729 36,107 22,503 16,312 331,286 95,343 19,689 332,127 37,544 20,292 15,158 14,083)(2,710 Total expenses 893,888 8412 848,729 EXCESS OF REVENUES OVER EXPENSES - Controlling and noncontrolling interest 74,981 86,934 LESS EXCESS OF REVENUES OVER EXPENSES-Noncontrolling interest 97)(101) EXCESS OF REVENUES OVER EXPENSES -Net of noncontrolling interest 74,884 86,833 OTHER CHANGES IN UNRESTRICTED NET ASSETS: Net assets released from restrictions for capital expenditures Change in retirement obligations actuarial loss and prior service cost Distributions to noncontrolling interest Contributions for capital expenditures 242 951 65 220 249 (1,071) (190) 314 INCREASE IN UNRESTRICTED NET ASSETS S 76,459 86,236 CAMC HEALTH SYSTEM, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012 In thousands 2013 2012 UNRESTRICTED NET ASSETS: Excess of revenue over expenses_Controlling and noncontrolling interest Change in retirement obligations actuarial loss and prior service cost Net Assets released from restrictions for capital expenditures Distribution to noncontrolling interest Contributions for capital expenditures S 74,981$ 86,934 (1,071) 249 (190) 314 951 242 65 220 Increase in unrestricted net assets 76,459 86,236 TEMPORARILY RESTRICTED NET ASSETS: Contributions Investment incomenet Net assets released from restrictions for: 3,002 7,814 3,188 4,848 Programs Capital expenditures (1,773) 213 (1,701) 249 8,8306,060 238 92,560 338,871 S 516,950 $431,431 Increase in temporarily restricted net assets 23025 PERMANENTLY RESTRICTED NET ASSETS-Contributions INCREASE IN NET ASSETS NET ASSETS-Beginning of year NET ASSETS-End of year 85,519 431,431 See notes to consolidated financial statements CAMC HEALTH SYSTEM, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012 In thousands 2013 2012 OPERATING ACTIVITIES: Increase in net assets Adjustments to reconcile increase in net assets to net cash provided by operating activities S 85,519 92,560 Change in fair value of derivatives Gain) Loss on disposal of fixed assets Change in retirement obligations actuarial loss and prior service cost Depreciation and amortization Provision for bad debts Unrealized gains on altemative in vestments Realized gains on alternative securities Realized and unrealized gain on limited as to use trading investments Net restricted contributions and investment income Distributions to noncontoing interest Changes in assets and liabilities 14,083) (2,710) 24 (951) 1,071 37,544 78,774 (1,272) (1,450) (26,300 (13,697) (8,274) 36,107 85,515 (496 (11,046) Patient receivables Other receivables Short term trading investments Inventories, prepaid expenses, and other Estimated amounts due from/to third-party payors Accounts payable and accrued expenses Accrued payroll and payroll-related expenses Other labilities 73,229 81,990) 6,406 (58,52 (44,827) 2,946 (506) 4,696 1,305 2,551 9,278 (5,896) (392) (279) 38S Net cash provided by operating activities 33,497 64,448 INVESTING ACTIVITIES Capital expenditures Capital expendituresCancer Center Purchases of alternative investments Limited as to use trading investments Proceeds from the sale of alternative in vestments Restricted cash as collateral Restricted cash from collateral (38,332 (37,199) (10,589 (5,909) (297) (67,49) (36,060) 6,762 4,845 (7,500 14,250) 12,360 Net cash used in investing activities 02156 (68,684) FINANCING ACTIVITIES: Principal payments on debt obligations and capital lease obligations Borrowings of debt obligations Borrowings under lines of credit Repayment under lines of credit Distributions to noncontrolling interest Net restricted contributions and investment income (8,066) 80,000 1,096 (8,915) 1,033 1,096 ,033) 65 11,046 8,274 Net cash provided by (used in) financing activities 14,386 NET INCREASE (DECREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS -Beginning of year CASH AND CASH EQUIVALENTS-End of year SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: (5,067 14,445 S 28,83 14.445 S 11.918 S10,879 Cash paid during the year for interest Capital assets acquired under capital lease obligation:s Capital expenditures remaining in accounts payable at year-end S 3,695 S See notes to consolidated financial statements
