(Mark
One)
|
|
x
|
QUARTERLY REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For
the quarterly period ended June 30, 2010
|
|
or
|
|
£
|
TRANSITION REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For
the transition period
from to
|
Delaware
|
20-1538254
|
(State
or Other Jurisdiction of
|
(I.R.S.
Employer
|
Incorporation
or Organization)
|
Identification
No.)
|
103
Powell Court
|
|
Brentwood,
Tennessee
|
37027
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
Large
accelerated filer x
|
Accelerated
filer £
|
Non-accelerated
filer £
|
Smaller
reporting company £
|
(Do
not check if a smaller reporting
company)
|
PART
I — FINANCIAL INFORMATION
|
||
Item
1.
|
Financial
Statements
|
3
|
Item
2.
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
|
18
|
Item
3.
|
Quantitative
and Qualitative Disclosures about Market
Risk
|
42
|
Item
4.
|
Controls
and
Procedures
|
43
|
PART
II — OTHER INFORMATION
|
||
Item
1.
|
Legal
Proceedings
|
44
|
Item
1A.
|
Risk
Factors
|
44
|
Item
2.
|
Unregistered
Sales of Equity Securities and Use of
Proceeds
|
44
|
Item
6.
|
Exhibits
|
46
|
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
2010
|
2009
|
2010
|
2009
|
|||||||||||||
Revenues
|
$ | 790.6 | $ | 735.3 | $ | 1,576.8 | $ | 1,470.8 | ||||||||
Salaries
and benefits
|
307.0 | 292.7 | 610.3 | 579.2 | ||||||||||||
Supplies
|
109.2 | 102.3 | 217.6 | 201.9 | ||||||||||||
Other
operating expenses
|
145.3 | 138.6 | 285.7 | 271.3 | ||||||||||||
Provision
for doubtful accounts
|
105.0 | 92.2 | 207.1 | 182.4 | ||||||||||||
Depreciation
and amortization
|
36.7 | 35.9 | 72.8 | 71.0 | ||||||||||||
Interest
expense, net
|
25.9 | 25.9 | 51.0 | 51.7 | ||||||||||||
729.1 | 687.6 | 1,444.5 | 1,357.5 | |||||||||||||
Income
from continuing operations before income taxes
|
61.5 | 47.7 | 132.3 | 113.3 | ||||||||||||
Provision
for income taxes
|
23.3 | 18.2 | 49.9 | 43.7 | ||||||||||||
Income
from continuing operations
|
38.2 | 29.5 | 82.4 | 69.6 | ||||||||||||
Discontinued
operations, net of income taxes:
|
||||||||||||||||
Income
(loss) from discontinued operations
|
0.1 | (2.1 | ) | (0.3 | ) | (3.2 | ) | |||||||||
Loss
on sale of hospital
|
— | (0.6 | ) | — | (0.6 | ) | ||||||||||
Income
(loss) from discontinued operations
|
0.1 | (2.7 | ) | (0.3 | ) | (3.8 | ) | |||||||||
Net
income
|
38.3 | 26.8 | 82.1 | 65.8 | ||||||||||||
Less:
Net income attributable to noncontrolling interests
|
(0.7 | ) | (0.5 | ) | (1.6 | ) | (1.1 | ) | ||||||||
Net
income attributable to LifePoint Hospitals, Inc.
|
$ | 37.6 | $ | 26.3 | $ | 80.5 | $ | 64.7 | ||||||||
Basic
earnings (loss) per share attributable to LifePoint Hospitals, Inc.
stockholders:
|
||||||||||||||||
Continuing
operations
|
$ | 0.71 | $ | 0.55 | $ | 1.52 | $ | 1.31 | ||||||||
Discontinued
operations
|
— | (0.05 | ) | (0.01 | ) | (0.08 | ) | |||||||||
Net
income
|
$ | 0.71 | $ | 0.50 | $ | 1.51 | $ | 1.23 | ||||||||
Diluted
earnings (loss) per share attributable to LifePoint Hospitals, Inc.
stockholders:
|
||||||||||||||||
Continuing
operations
|
$ | 0.69 | $ | 0.54 | $ | 1.48 | $ | 1.29 | ||||||||
Discontinued
operations
|
— | (0.05 | ) | — | (0.08 | ) | ||||||||||
Net
income
|
$ | 0.69 | $ | 0.49 | $ | 1.48 | $ | 1.21 | ||||||||
Weighted
average shares and dilutive securities outstanding:
|
||||||||||||||||
Basic
|
53.2 | 52.8 | 53.2 | 52.5 | ||||||||||||
Diluted
|
54.4 | 53.6 | 54.5 | 53.3 | ||||||||||||
Amounts
attributable to LifePoint Hospitals, Inc. stockholders:
|
||||||||||||||||
Income
from continuing operations, net of income taxes
|
$ | 37.5 | $ | 29.0 | $ | 80.8 | $ | 68.5 | ||||||||
Loss
from discontinued operations, net of income taxes
|
0.1 | (2.7 | ) | (0.3 | ) | (3.8 | ) | |||||||||
Net
income
|
$ | 37.6 | $ | 26.3 | $ | 80.5 | $ | 64.7 |
June 30,
2010
|
December 31,
2009(a)
|
|||||||
(Unaudited)
|
||||||||
ASSETS
|
||||||||
Current
assets:
|
||||||||
Cash
and cash equivalents
|
$ | 199.7 | $ | 187.2 | ||||
Accounts
receivable, less allowances for doubtful accounts of $463.6 and $433.2 at
June 30, 2010 and December 31, 2009, respectively
|
356.8 | 325.2 | ||||||
Inventories
|
77.7 | 75.3 | ||||||
Prepaid
expenses
|
16.4 | 12.0 | ||||||
Income
taxes receivable
|
— | 10.0 | ||||||
Deferred
tax assets
|
131.2 | 121.3 | ||||||
Other
current assets
|
21.4 | 23.1 | ||||||
803.2 | 754.1 | |||||||
Property
and equipment:
|
||||||||
Land
|
76.4 | 75.5 | ||||||
Buildings
and improvements
|
1,405.5 | 1,377.0 | ||||||
Equipment
|
874.5 | 840.9 | ||||||
Construction
in progress (estimated cost to complete and equip after June 30, 2010 is
$40.9)
|
34.5 | 19.9 | ||||||
2,390.9 | 2,313.3 | |||||||
Accumulated
depreciation
|
(879.1 | ) | (813.9 | ) | ||||
1,511.8 | 1,499.4 | |||||||
Deferred
loan costs, net
|
23.4 | 23.0 | ||||||
Intangible
assets, net
|
74.6 | 68.6 | ||||||
Other
|
20.2 | 5.2 | ||||||
Goodwill
|
1,525.7 | 1,523.0 | ||||||
Total
assets
|
$ | 3,958.9 | $ | 3,873.3 | ||||
LIABILITIES
AND EQUITY
|
||||||||
Current
liabilities:
|
||||||||
Accounts
payable
|
$ | 73.6 | $ | 77.3 | ||||
Accrued
salaries
|
77.3 | 81.8 | ||||||
Income
taxes payable
|
31.0 | — | ||||||
Interest
rate swap
|
18.5 | — | ||||||
Other
current liabilities
|
102.8 | 108.1 | ||||||
Current
maturities of long-term debt
|
55.4 | 1.0 | ||||||
358.6 | 268.2 | |||||||
Long-term
debt
|
1,355.8 | 1,398.8 | ||||||
Deferred
income tax liabilities
|
169.3 | 176.9 | ||||||
Reserves
for self-insurance claims and other liabilities
|
110.6 | 135.3 | ||||||
Long-term
income tax liability
|
55.6 | 51.3 | ||||||
Total
liabilities
|
2,049.9 | 2,030.5 | ||||||
Redeemable
noncontrolling interests
|
16.4 | 12.0 | ||||||
Equity:
|
||||||||
LifePoint
Hospitals, Inc. stockholders’ equity:
|
||||||||
Preferred
stock, $0.01 par value; 10,000,000 shares authorized; no shares
issued
|
— | — | ||||||
Common
stock, $0.01 par value; 90,000,000 shares
authorized; 61,172,616 and 60,262,399 shares issued
at June 30, 2010 and December 31, 2009, respectively
|
0.6 | 0.6 | ||||||
Capital
in excess of par value
|
1,271.1 | 1,246.4 | ||||||
Accumulated
other comprehensive loss
|
(11.0 | ) | (17.4 | ) | ||||
Retained
earnings
|
829.0 | 748.5 | ||||||
Common
stock in treasury, at cost, 6,964,157 and 5,476,930 shares at June 30,
2010 and December 31, 2009, respectively
|
(200.9 | ) | (150.4 | ) | ||||
Total
LifePoint Hospitals, Inc. stockholders’ equity
|
1,888.8 | 1,827.7 | ||||||
Noncontrolling
interests
|
3.8 | 3.1 | ||||||
Total
equity
|
1,892.6 | 1,830.8 | ||||||
Total
liabilities and equity
|
$ | 3,958.9 | $ | 3,873.3 |
(a)
|
Derived
from audited consolidated financial
statements.
|
Three Months ended
June 30,
|
Six Months
Ended June 30,
|
|||||||||||||||
2010
|
2009
|
2010
|
2009
|
|||||||||||||
Cash
flows from operating activities:
|
||||||||||||||||
Net
income
|
$ | 38.3 | $ | 26.8 | $ | 82.1 | $ | 65.8 | ||||||||
Adjustments
to reconcile net income to net cash provided by operating
activities:
|
||||||||||||||||
(Income)
loss from discontinued operations
|
(0.1 | ) | 2.7 | 0.3 | 3.8 | |||||||||||
Stock-based
compensation
|
5.3 | 4.7 | 11.1 | 10.6 | ||||||||||||
Depreciation
and amortization
|
36.7 | 35.9 | 72.8 | 71.0 | ||||||||||||
Amortization
of physician minimum revenue guarantees
|
4.1 | 3.1 | 8.0 | 6.2 | ||||||||||||
Amortization
of convertible debt discounts
|
5.5 | 5.2 | 11.0 | 10.3 | ||||||||||||
Amortization
of deferred loan costs
|
1.6 | 1.8 | 4.0 | 3.7 | ||||||||||||
Deferred
income tax benefit
|
(12.6 | ) | (4.7 | ) | (16.7 | ) | (10.7 | ) | ||||||||
Reserves
for self-insurance claims, net of payments
|
0.2 | 5.5 | 4.3 | 11.1 | ||||||||||||
Increase
(decrease) in cash from operating assets and liabilities, net of effects
from acquisitions and divestitures:
|
||||||||||||||||
Accounts
receivable
|
(1.7 | ) | 6.0 | (26.4 | ) | (15.4 | ) | |||||||||
Inventories
and other current assets
|
(2.1 | ) | (3.2 | ) | (2.5 | ) | (2.9 | ) | ||||||||
Accounts
payable and accrued expenses
|
(0.7 | ) | 3.1 | (19.7 | ) | (5.7 | ) | |||||||||
Income
taxes payable/receivable
|
10.1 | (20.2 | ) | 39.7 | 11.0 | |||||||||||
Other
|
— | 0.4 | 0.1 | 0.2 | ||||||||||||
Net
cash provided by operating activities — continuing
operations
|
84.6 | 67.1 | 168.1 | 159.0 | ||||||||||||
Net
cash used in operating activities — discontinued
operations
|
(0.5 | ) | (1.4 | ) | (0.7 | ) | (2.9 | ) | ||||||||
Net
cash provided by operating activities
|
84.1 | 65.7 | 167.4 | 156.1 | ||||||||||||
Cash
flows from investing activities:
|
||||||||||||||||
Purchase
of property and equipment
|
(39.6 | ) | (42.0 | ) | (73.6 | ) | (85.1 | ) | ||||||||
Acquisitions,
net of cash acquired
|
(25.8 | ) | (1.5 | ) | (42.7 | ) | (79.7 | ) | ||||||||
Proceeds
from sale of business
|
— | 3.9 | — | 3.9 | ||||||||||||
Net
cash used in investing activities – continuing operations
|
(65.4 | ) | (39.6 | ) | (116.3 | ) | (160.9 | ) | ||||||||
Net
cash provided by investing activities – discontinued
operations
|
— | 10.4 | — | 10.4 | ||||||||||||
Net
cash used in investing activities
|
(65.4 | ) | (29.2 | ) | (116.3 | ) | (150.5 | ) | ||||||||
Cash
flows from financing activities:
|
||||||||||||||||
Payments
on borrowings
|
— | (13.5 | ) | — | (13.5 | ) | ||||||||||
Repurchases
of common stock
|
(41.5 | ) | (1.0 | ) | (50.5 | ) | (2.6 | ) | ||||||||
Payment
of debt financing costs
|
— | — | (4.4 | ) | — | |||||||||||
Proceeds
from exercise of stock options
|
4.3 | 7.9 | 13.5 | 9.6 | ||||||||||||
Proceeds
from employee stock purchase plans
|
— | — | 0.6 | 0.4 | ||||||||||||
Distributions
to noncontrolling interests
|
(0.4 | ) | (0.3 | ) | (0.9 | ) | (0.7 | ) | ||||||||
(Purchase
of) proceeds from redeemable noncontrolling interests
|
(0.3 | ) | (0.8 | ) | 3.9 | (0.8 | ) | |||||||||
Capital
lease payments and other
|
(0.5 | ) | (1.3 | ) | (0.8 | ) | (1.7 | ) | ||||||||
Net
cash used in financing activities
|
(38.4 | ) | (9.0 | ) | (38.6 | ) | (9.3 | ) | ||||||||
Change
in cash and cash equivalents
|
(19.7 | ) | 27.5 | 12.5 | (3.7 | ) | ||||||||||
Cash
and cash equivalents at beginning of period
|
219.4 | 44.5 | 187.2 | 75.7 | ||||||||||||
Cash
and cash equivalents at end of period
|
$ | 199.7 | $ | 72.0 | $ | 199.7 | $ | 72.0 | ||||||||
Supplemental
disclosure of cash flow information:
|
||||||||||||||||
Interest
payments
|
$ | 21.4 | $ | 22.5 | $ | 34.7 | $ | 38.7 | ||||||||
Capitalized
interest
|
$ | 0.2 | $ | 0.3 | $ | 0.3 | $ | 0.6 | ||||||||
Income
taxes paid, net
|
$ | 25.7 | $ | 43.1 | $ | 26.8 | $ | 43.6 |
LifePoint Hospitals, Inc. Stockholders
|
||||||||||||||||||||||||||||||||
Common Stock
|
Capital in
Excess of
|
Accumulated
Other
Comprehensive
|
Retained
|
Treasury
|
Noncontrolling
|
|||||||||||||||||||||||||||
Shares
|
Amount
|
Par Value
|
Income (loss)
|
Earnings
|
Stock
|
Interests
|
Total
|
|||||||||||||||||||||||||
Balance
at December 31, 2009 (a)
|
54.8 | $ | 0.6 | $ | 1,246.4 | $ | (17.4 | ) | $ | 748.5 | $ | (150.4 | ) | $ | 3.1 | $ | 1,830.8 | |||||||||||||||
Comprehensive
income:
|
||||||||||||||||||||||||||||||||
Net
income
|
— | — | — | — | 80.5 | — | 1.6 | 82.1 | ||||||||||||||||||||||||
Net
change in fair value of interest rate swap, net of tax provision of
$3.4
|
— | — | — | 6.4 | — | — | — | 6.4 | ||||||||||||||||||||||||
Total
comprehensive income
|
88.5 | |||||||||||||||||||||||||||||||
Exercise
of stock options, including tax benefits of stock-based awards and
other
|
0.5 | — | 13.4 | — | — | — | — | 13.4 | ||||||||||||||||||||||||
Stock
activity in connection with employee stock purchase plan
|
— | — | 0.6 | — | — | — | — | 0.6 | ||||||||||||||||||||||||
Stock-based
compensation
|
0.4 | — | 11.1 | — | — | — | — | 11.1 | ||||||||||||||||||||||||
Repurchases
of common stock, at cost
|
(1.5 | ) | — | — | — | — | (50.5 | ) | — | (50.5 | ) | |||||||||||||||||||||
Cash
distributions to noncontrolling interests
|
— | — | ( 0.4 | ) | — | — | — | (0.9 | ) | (1.3 | ) | |||||||||||||||||||||
Balance
at June 30, 2010
|
54.2 | $ | 0.6 | $ | 1,271.1 | $ | (11.0 | ) | $ | 829.0 | $ | (200.9 | ) | $ | 3.8 | $ | 1,892.6 |
(a)
|
Derived
from audited consolidated financial
statements.
|
Carrying Amount
|
Fair Value
|
|||||||||||||||
June 30,
2010
|
December 31,
2009
|
June 30,
2010
|
December 31,
2009
|
|||||||||||||
Term
B Loans
|
$ | 692.9 | $ | 692.9 | $ | 662.9 | $ | 673.8 | ||||||||
3½%
Notes, excluding unamortized discount
|
$ | 575.0 | $ | 575.0 | $ | 530.4 | $ | 536.2 | ||||||||
3¼%
Debentures, excluding unamortized discount
|
$ | 225.0 | $ | 225.0 | $ | 209.0 | $ | 206.2 |
June 30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
Amortized
intangible assets:
|
||||||||
Contract-based
physician minimum revenue guarantees
|
||||||||
Gross
carrying amount
|
$ | 82.4 | $ | 77.5 | ||||
Accumulated
amortization
|
(33.0 | ) | (26.4 | ) | ||||
Net
total
|
49.4 | 51.1 | ||||||
Non-competition
agreements
|
||||||||
Gross
carrying amount
|
29.3 | 20.4 | ||||||
Accumulated
amortization
|
(10.6 | ) | (9.4 | ) | ||||
Net
total
|
18.7 | 11.0 | ||||||
Total
amortized intangible assets
|
||||||||
Gross
carrying amount
|
111.7 | 97.9 | ||||||
Accumulated
amortization
|
(43.6 | ) | (35.8 | ) | ||||
Net
total
|
68.1 | 62.1 | ||||||
Indefinite-lived
intangible assets:
|
||||||||
Certificates
of need
|
6.5 | 6.5 | ||||||
Total
intangible assets:
|
||||||||
Gross
carrying amount
|
118.2 | 104.4 | ||||||
Accumulated
amortization
|
(43.6 | ) | (35.8 | ) | ||||
Net
total
|
$ | 74.6 | $ | 68.6 |
Six Months Ended
June 30,
|
||||||||
2010
|
2009
|
|||||||
Expected
volatility
|
40.0 | % | 40.2 | % | ||||
Risk
free interest rate (range)
|
0.06% - 3.69 | % | 0.10% - 2.92 | % | ||||
Expected
dividends
|
— | — | ||||||
Average
expected term (years)
|
5.4 | 5.4 | ||||||
Fair
value per share of stock options granted
|
$ | 11.23 | $ | 7.92 |
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
2010
|
2009
|
2010
|
2009
|
|||||||||||||
Other
stock-based awards
|
$ | 3.1 | $ | 3.2 | $ | 6.9 | $ | 7.2 | ||||||||
Stock
options
|
2.2 | 1.5 | 4.2 | 3.4 | ||||||||||||
Total
stock-based compensation expense
|
$ | 5.3 | $ | 4.7 | $ | 11.1 | $ | 10.6 | ||||||||
Tax
benefit on stock-based compensation expense
|
$ | 2.1 | $ | 2.1 | $ | 4.4 | $ | 4.6 |
Date Range
|
Notional Amount
(In millions)
|
|||
November
28, 2008 to November 30, 2009
|
$ | 600.0 | ||
November
30, 2009 to November 30, 2010
|
450.0 | |||
November
30, 2010 to May 30, 2011
|
300.0 |
Balance Sheet Location
|
June 30, 2010
|
December 31, 2009
|
||||||||
Derivative
designated as a hedging instrument under ASC 815-10:
|
||||||||||
Interest
rate swap
|
Interest
rate swap
|
$ | 18.5 | $ | — | |||||
Reserves
for self-insurance claims and other liabilities
|
$ | — | $ | 28.3 |
Amount of gain (loss)
recognized in OCI on
Derivative (Effective
Portion)
|
Location of gain (loss)
recognized in Income on
Derivative (Ineffective
Portion and Amount
Excluded from
Effectiveness Testing)
|
Amount of gain (loss)
recognized in Income on
Derivative (Ineffective
Portion and Amount
Excluded from
Effectiveness Testing)
|
|||||||||||||||||||||||||||||||
For the Three
Months Ended
June 30,
|
For the Six
Months Ended
June 30,
|
For the Three
Months Ended
June 30,
|
For the Six
Months Ended
June 30,
|
||||||||||||||||||||||||||||||
2010
|
2009
|
2010
|
2009
|
2010
|
2009
|
2010
|
2009
|
||||||||||||||||||||||||||
Derivative
in ASC 815-10 cash flow hedging relationships:
|
|||||||||||||||||||||||||||||||||
Interest
rate swap
|
$ | 6.0 | $ | 4.9 | $ | 9.8 | $ | 6.9 |
Interest
expense, net
|
$ | — | $ | — | $ | — | $ | — |
Settlement Date
|
Three-month LIBOR
Forward Interest Rates
|
|||
August
31, 2010
|
0.53781 | % | ||
November
30, 2010
|
0.62403 | |||
February
28, 2011
|
0.74706 | |||
May
30, 2011
|
0.81102 |
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
2010
|
2009
|
2010
|
2009
|
|||||||||||||
Revenues
|
$ | (0.1 | ) | $ | 5.3 | $ | (0.5 | ) | $ | 16.1 | ||||||
Income
(loss) before income tax benefits
|
$ | 0.2 | $ | (4.0 | ) | $ | (0.4 | ) | $ | (5.7 | ) | |||||
Net
income (loss)
|
$ | 0.1 | $ | (2.1 | ) | $ | (0.3 | ) | $ | (3.2 | ) |
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
2010
|
2009
|
2010
|
2009
|
|||||||||||||
Numerator
for basic and diluted earnings per share attributable to LifePoint
|
||||||||||||||||
Hospitals,
Inc.:
|
||||||||||||||||
Income
from continuing operations
|
$ | 38.2 | $ | 29.5 | $ | 82.4 | $ | 69.6 | ||||||||
Less:
Net income attributable to noncontrolling interests
|
(0.7 | ) | (0.5 | ) | (1.6 | ) | (1.1 | ) | ||||||||
Income
from continuing operations attributable to LifePoint Hospitals, Inc.
stockholders
|
37.5 | 29.0 | 80.8 | 68.5 | ||||||||||||
Income
(loss) from discontinued operations, net of income taxes
|
0.1 | (2.7 | ) | (0.3 | ) | (3.8 | ) | |||||||||
Net
income attributable to LifePoint Hospitals, Inc.
|
$ | 37.6 | $ | 26.3 | $ | 80.5 | $ | 64.7 | ||||||||
Denominator:
|
||||||||||||||||
Weighted
average shares outstanding — basic
|
53.2 | 52.8 | 53.2 | 52.5 | ||||||||||||
Effect
of dilutive securities: stock options and other stock-based
awards
|
1.2 | 0.8 | 1.3 | 0.8 | ||||||||||||
Weighted
average shares outstanding — diluted
|
54.4 | 53.6 | 54.5 | 53.3 | ||||||||||||
Basic
earnings (loss) per share attributable to LifePoint Hospitals, Inc.
stockholders:
|
||||||||||||||||
Continuing
operations
|
$ | 0.71 | $ | 0.55 | $ | 1.52 | $ | 1.31 | ||||||||
Discontinued
operations
|
— | (0.05 | ) | (0.01 | ) | (0.08 | ) | |||||||||
Net
income
|
$ | 0.71 | $ | 0.50 | $ | 1.51 | $ | 1.23 | ||||||||
Diluted
earnings (loss) per share attributable to LifePoint Hospitals, Inc.
stockholders:
|
||||||||||||||||
Continuing
operations
|
$ | 0.69 | $ | 0.54 | $ | 1.48 | $ | 1.29 | ||||||||
Discontinued
operations
|
— | (0.05 | ) | — | (0.08 | ) | ||||||||||
Net
income
|
$ | 0.69 | $ | 0.49 | $ | 1.48 | $ | 1.21 |
Three Months Ended June 30,
|
Six Months Ended June 30,
|
|||||||||||||||||||||||||||||||
2010
|
2009
|
2010
|
2009
|
|||||||||||||||||||||||||||||
Amount
|
%
of
Revenues
|
Amount
|
%
of
Revenues
|
Amount
|
%
of
Revenues
|
Amount
|
%
of
Revenues
|
|||||||||||||||||||||||||
Revenues
|
$ | 790.6 | 100.0 | % | $ | 735.3 | 100.0 | % | $ | 1,576.8 | 100.0 | % | $ | 1,470.8 | 100.0 | % | ||||||||||||||||
Salaries
and benefits
|
307.0 | 38.8 | 292.7 | 39.8 | 610.3 | 38.7 | 579.2 | 39.4 | ||||||||||||||||||||||||
Supplies
|
109.2 | 13.8 | 102.3 | 13.9 | 217.6 | 13.8 | 201.9 | 13.7 | ||||||||||||||||||||||||
Other
operating expenses
|
145.3 | 18.4 | 138.6 | 18.9 | 285.7 | 18.2 | 271.3 | 18.4 | ||||||||||||||||||||||||
Provision
for doubtful accounts
|
105.0 | 13.3 | 92.2 | 12.5 | 207.1 | 13.1 | 182.4 | 12.4 | ||||||||||||||||||||||||
Depreciation
and
amortization
|
36.7 | 4.6 | 35.9 | 4.9 | 72.8 | 4.6 | 71.0 | 4.9 | ||||||||||||||||||||||||
Interest
expense, net
|
25.9 | 3.3 | 25.9 | 3.5 | 51.0 | 3.2 | 51.7 | 3.5 | ||||||||||||||||||||||||
729.1 | 92.2 | 687.6 | 93.5 | 1,444.5 | 91.6 | 1,357.5 | 92.3 | |||||||||||||||||||||||||
Income
from continuing operations before income taxes
|
61.5 | 7.8 | 47.7 | 6.5 | 132.3 | 8.4 | 113.3 | 7.7 | ||||||||||||||||||||||||
Provision
for income taxes
|
23.3 | 2.9 | 18.2 | 2.5 | 49.9 | 3.2 | 43.7 | 3.0 | ||||||||||||||||||||||||
Income
from continuing operations
|
38.2 | 4.9 | 29.5 | 4.0 | 82.4 | 5.2 | 69.6 | 4.7 | ||||||||||||||||||||||||
Less:
Net income attributable to noncontrolling interests
|
(0.7 | ) | (0.1 | ) | (0.5 | ) | — | (1.6 | ) | (0.1 | ) | (1.1 | ) | (0.1 | ) | |||||||||||||||||
Income
from continuing operations attributable to LifePoint Hospitals,
Inc.
|
$ | 37.5 | 4.8 | % | $ | 29.0 | 4.0 | % | $ | 80.8 | 5.1 | % | $ | 68.5 | 4.6 | % |
Three
Months Ended
June 30,
|
Increase
|
%
Increase
|
||||||||||||||
2010
|
2009
|
(Decrease)
|
(Decrease)
|
|||||||||||||
Continuing
operations:
|
||||||||||||||||
Revenues
(dollars in millions)
|
$ | 790.6 | $ | 735.3 | $ | 55.3 | 7.5 | % | ||||||||
Admissions
|
45,723 | 45,714 | 9 | — | ||||||||||||
Equivalent
admissions
|
100,348 | 97,405 | 2,943 | 3.0 | ||||||||||||
Revenues
per equivalent admission
|
$ | 7,879 | $ | 7,549 | $ | 330 | 4.4 | |||||||||
Medicare
case mix index
|
1.28 | 1.30 | (0.02 | ) | (1.5 | ) | ||||||||||
Average
length of stay (days)
|
4.4 | 4.3 | 0.1 | 2.3 | ||||||||||||
Inpatient
surgeries
|
13,264 | 13,391 | (127 | ) | (0.9 | ) | ||||||||||
Outpatient
surgeries
|
39,336 | 38,732 | 604 | 1.6 | ||||||||||||
Emergency
room visits
|
237,446 | 233,556 | 3,890 | 1.7 | ||||||||||||
Outpatient
factor
|
2.19 | 2.13 | 0.06 | 2.8 | ||||||||||||
Same-hospital:
|
||||||||||||||||
Revenues
(dollars in millions)
|
$ | 781.5 | $ | 735.3 | $ | 46.2 | 6.3 | % | ||||||||
Admissions
|
45,287 | 45,714 | (427 | ) | (0.9 | ) | ||||||||||
Equivalent
admissions
|
98,952 | 97,405 | 1,547 | 1.6 | ||||||||||||
Revenues
per equivalent admission
|
$ | 7,898 | $ | 7,549 | $ | 349 | 4.6 | |||||||||
Medicare
case mix index
|
1.29 | 1.30 | (0.01 | ) | (0.8 | ) | ||||||||||
Average
length of stay (days)
|
4.3 | 4.3 | — | — | ||||||||||||
Inpatient
surgeries
|
13,150 | 13,391 | (241 | ) | (1.8 | ) | ||||||||||
Outpatient
surgeries
|
38,583 | 38,732 | (149 | ) | (0.4 | ) | ||||||||||
Emergency
room visits
|
233,195 | 233,556 | (361 | ) | (0.2 | ) | ||||||||||
Outpatient
factor
|
2.18 | 2.13 | 0.05 | 2.3 |
Three
Months
Ended
June 30,
|
||||||||
2010
|
2009
|
|||||||
Medicare
|
29.2 | % | 29.7 | % | ||||
Medicaid
|
11.1 | 10.1 | ||||||
HMOs,
PPOs and other private insurers
|
41.6 | 44.5 | ||||||
Self-Pay
|
14.5 | 13.0 | ||||||
Other
|
3.6 | 2.7 | ||||||
100.0 | % | 100.0 | % |
Three Months Ended June 30,
|
||||||||||||||||||||||||
2010
|
%
of
Revenues
|
2009
|
%
of
Revenues
|
Increase
|
%
Increase
|
|||||||||||||||||||
Salaries
and benefits (dollars in millions)
|
$ | 307.0 | 38.8 | % | $ | 292.7 | 39.8 | % | $ | 14.3 | 4.9 | % | ||||||||||||
Man-hours
per equivalent admission
|
95.3 | N/A | 93.1 | N/A | 2.2 | 2.4 | % | |||||||||||||||||
Salaries
and benefits per equivalent admission
|
$ | 3,051 | N/A | $ | 3,019 | N/A | $ | 32 | 1.0 | % |
Three Months Ended June 30,
|
||||||||||||||||||||||||
2010
|
%
of
Revenues
|
2009
|
%
of
Revenues
|
Increase
|
%
Increase
|
|||||||||||||||||||
Supplies
(dollars in millions)
|
$ | 109.2 | 13.8 | % | $ | 102.3 | 13.9 | % | $ | 6.9 | 6.8 | % | ||||||||||||
Supplies
per equivalent admission
|
$ | 1,089 | N/A | $ | 1,048 | N/A | $ | 41 | 3.9 | % |
Three Months Ended June 30,
|
||||||||||||||||||||||||
2010
|
%
of
Revenues
|
2009
|
%
of
Revenues
|
Increase
|
%
Increase
|
|||||||||||||||||||
Professional
fees
|
$ | 19.7 | 2.5 | % | $ | 18.6 | 2.5 | % | $ | 1.1 | 6.1 | % | ||||||||||||
Utilities
|
12.6 | 1.6 | 12.3 | 1.7 | 0.3 | 2.0 | ||||||||||||||||||
Repairs
and maintenance
|
17.2 | 2.2 | 16.9 | 2.3 | 0.3 | 1.9 | ||||||||||||||||||
Rents
and leases
|
6.2 | 0.8 | 6.9 | 1.0 | (0.7 | ) | (11.2 | ) | ||||||||||||||||
Insurance
|
11.6 | 1.5 | 13.3 | 1.8 | (1.7 | ) | (12.8 | ) | ||||||||||||||||
Physician
recruiting
|
6.2 | 0.8 | 5.2 | 0.7 | 1.0 | 18.5 | ||||||||||||||||||
Contract
services
|
38.2 | 4.8 | 37.0 | 5.0 | 1.2 | 3.2 | ||||||||||||||||||
Non-income
taxes
|
12.6 | 1.6 | 10.1 | 1.4 | 2.5 | 24.5 | ||||||||||||||||||
Other
|
21.0 | 2.6 | 18.3 | 2.5 | 2.7 | 15.3 | ||||||||||||||||||
$ | 145.3 | 18.4 | % | $ | 138.6 | 18.9 | % | $ | 6.7 | 4.8 | % |
Three Months Ended June 30,
|
||||||||||||||||||||||||
2010
|
%
of
Revenues
|
2009
|
%
of
Revenues
|
Increase
(Decrease)
|
%
Increase
(Decrease)
|
|||||||||||||||||||
Provision
for doubtful accounts (dollars in millions)
|
$ | 105.0 | 13.3 | % | $ | 92.2 | 12.5 | % | $ | 12.8 | 14.0 | % | ||||||||||||
Related
key indicators:
|
||||||||||||||||||||||||
Charity
care write-offs (dollars in millions)
|
$ | 13.1 | 1.7 | % | $ | 16.1 | 2.2 | % | $ | (3.0 | ) | (19.0 | )% | |||||||||||
Self-pay
revenues, net of charity care write-offs and uninsured discounts (dollars
in millions)
|
$ | 114.4 | 14.5 | % | $ | 95.8 | 13.0 | % | $ | 18.6 | 19.4 | % | ||||||||||||
Net
revenue days outstanding (at end of period)
|
41.1 | N/A | 41.8 | N/A | (0.7 | ) | (1.7 | )% |
Six
Months Ended
June 30,
|
Increase
|
%
Increase
|
||||||||||||||
2010
|
2009
|
(Decrease)
|
(Decrease)
|
|||||||||||||
Continuing
operations:
|
||||||||||||||||
Revenues
(dollars in millions)
|
$ | 1,576.8 | $ | 1,470.8 | $ | 106.0 | 7.2 | % | ||||||||
Admissions
|
95,015 | 95,233 | (218 | ) | (0.2 | ) | ||||||||||
Equivalent
admissions
|
201,052 | 195,799 | 5,253 | 2.7 | ||||||||||||
Revenues
per equivalent admission
|
$ | 7,843 | $ | 7,512 | $ | 331 | 4.4 | |||||||||
Medicare
case mix index
|
1.30 | 1.29 | 0.01 | 0.8 | ||||||||||||
Average
length of stay (days)
|
4.4 | 4.3 | 0.1 | 2.3 | ||||||||||||
Inpatient
surgeries
|
26,806 | 27,209 | (403 | ) | (1.5 | ) | ||||||||||
Outpatient
surgeries
|
76,292 | 75,291 | 1,001 | 1.3 | ||||||||||||
Emergency
room visits
|
459,478 | 460,244 | (766 | ) | (0.2 | ) | ||||||||||
Outpatient
factor
|
2.12 | 2.06 | 0.06 | 2.9 | ||||||||||||
Same-hospital:
|
||||||||||||||||
Revenues
(dollars in millions)
|
$ | 1,567.7 | $ | 1,470.8 | $ | 96.9 | 6.6 | % | ||||||||
Admissions
|
94,579 | 95,233 | (654 | ) | (0.7 | ) | ||||||||||
Equivalent
admissions
|
199,656 | 195,799 | 3,857 | 2.0 | ||||||||||||
Revenues
per equivalent admission
|
$ | 7,852 | $ | 7,512 | $ | 340 | 4.5 | |||||||||
Medicare
case mix index
|
1.30 | 1.29 | 0.01 | 0.8 | ||||||||||||
Average
length of stay (days)
|
4.4 | 4.3 | 0.01 | 2.3 | ||||||||||||
Inpatient
surgeries
|
26,692 | 27,209 | (517 | ) | (1.9 | ) | ||||||||||
Outpatient
surgeries
|
75,539 | 75,291 | 248 | 0.3 | ||||||||||||
Emergency
room visits
|
455,227 | 460,244 | (5,017 | ) | (1.1 | ) | ||||||||||
Outpatient
factor
|
2.11 | 2.06 | 0.05 | 2.4 |
Six
Months
Ended
June 30,
|
||||||||
2010
|
2009
|
|||||||
Medicare
|
29.9 | % | 30.3 | % | ||||
Medicaid
|
10.7 | 10.2 | ||||||
HMOs,
PPOs and other private insurers
|
42.0 | 44.2 | ||||||
Self-Pay
|
14.1 | 12.7 | ||||||
Other
|
3.3 | 2.6 | ||||||
100.0 | % | 100.0 | % |
Six Months Ended June 30,
|
||||||||||||||||||||||||
2010
|
% of
Revenues
|
2009
|
%
of
Revenues
|
Increase
|
%
Increase
|
|||||||||||||||||||
Salaries
and benefits (dollars in millions)
|
$ | 610.3 | 38.7 | % | $ | 579.2 | 39.4 | % | $ | 31.1 | 5.4 | % | ||||||||||||
Man-hours
per equivalent admission
|
94.1 | N/A | 91.8 | N/A | 2.3 | 2.6 | % | |||||||||||||||||
Salaries
and benefits per equivalent admission
|
$ | 3,035 | N/A | $ | 2,954 | N/A | $ | 81 | 2.7 | % |
Six Months Ended June 30,
|
||||||||||||||||||||||||
2010
|
%
of
Revenues
|
2009
|
%
of
Revenues
|
Increase
|
%
Increase
|
|||||||||||||||||||
Supplies
(dollars in millions)
|
$ | 217.6 | 13.8 | % | $ | 201.9 | 13.7 | % | $ | 15.7 | 7.8 | % | ||||||||||||
Supplies
per equivalent admission
|
$ | 1,082 | N/A | $ | 1,028 | N/A | $ | 54 | 5.3 | % |
Six Months Ended June 30,
|
||||||||||||||||||||||||
2010
|
%
of
Revenues
|
2009
|
%
of
Revenues
|
Increase
(Decrease)
|
%
Increase
(Decrease)
|
|||||||||||||||||||
Professional
fees
|
$ | 39.0 | 2.5 | % | $ | 35.2 | 2.4 | % | $ | 3.8 | 10.7 | % | ||||||||||||
Utilities
|
25.2 | 1.6 | 25.1 | 1.7 | 0.1 | 0.4 | ||||||||||||||||||
Repairs
and maintenance
|
34.2 | 2.2 | 32.5 | 2.2 | 1.7 | 5.3 | ||||||||||||||||||
Rents
and leases
|
12.8 | 0.8 | 14.2 | 1.0 | (1.4 | ) | (10.3 | ) | ||||||||||||||||
Insurance
|
23.6 | 1.5 | 25.4 | 1.7 | (1.8 | ) | (7.0 | ) | ||||||||||||||||
Physician
recruiting
|
12.2 | 0.8 | 11.5 | 0.8 | 0.7 | 5.5 | ||||||||||||||||||
Contract
services
|
75.4 | 4.8 | 72.5 | 4.9 | 2.9 | 4.0 | ||||||||||||||||||
Non-income
taxes
|
24.8 | 1.6 | 20.5 | 1.4 | 4.3 | 21.0 | ||||||||||||||||||
Other
|
38.5 | 2.4 | 34.4 | 2.3 | 4.1 | 11.9 | ||||||||||||||||||
$ | 285.7 | 18.2 | % | $ | 271.3 | 18.4 | % | $ | 14.4 | 5.3 | % |
Six Months Ended June 30,
|
||||||||||||||||||||||||
2010
|
%
of
Revenues
|
2009
|
%
of
Revenues
|
Increase
(Decrease)
|
%
Increase
(Decrease)
|
|||||||||||||||||||
Provision
for doubtful accounts (dollars in millions)
|
$ | 207.1 | 13.1 | % | $ | 182.4 | 12.4 | % | $ | 24.7 | 13.6 | % | ||||||||||||
Related
key indicators:
|
||||||||||||||||||||||||
Charity
care write-offs (dollars in millions)
|
$ | 27.0 | 1.7 | % | $ | 28.5 | 1.9 | % | $ | (1.5 | ) | (5.4 | )% | |||||||||||
Self-pay
revenues, net of charity care write-offs and uninsured discounts (dollars
in millions)
|
$ | 221.8 | 14.1 | % | $ | 186.6 | 12.7 | % | $ | 35.2 | 18.9 | % | ||||||||||||
Net
revenue days outstanding (at end of period)
|
41.1 | N/A | 41.8 | N/A | (0.7 | ) | (1.7 | )% |
Three
Months Ended
June 30,
|
Six
Months Ended
June 30,
|
|||||||||||||||
2010
|
2009
|
2010
|
2009
|
|||||||||||||
Net
cash flows provided by continuing operations
|
$ | 84.6 | $ | 67.1 | $ | 168.1 | $ | 159.0 | ||||||||
Less:
Purchase of property and equipment
|
(39.6 | ) | (42.0 | ) | (73.6 | ) | (85.1 | ) | ||||||||
Free
operating cash flow
|
45.0 | 25.1 | 94.5 | 73.9 | ||||||||||||
Acquisitions,
net of cash acquired
|
(25.8 | ) | (1.5 | ) | (42.7 | ) | (79.7 | ) | ||||||||
Payments
on borrowings
|
— | (13.5 | ) | — | (13.5 | ) | ||||||||||
Proceeds
from exercise of stock options
|
4.3 | 7.9 | 13.5 | 9.6 | ||||||||||||
Repurchases
of common stock
|
(41.5 | ) | (1.0 | ) | (50.5 | ) | (2.6 | ) | ||||||||
Other
|
(1.2 | ) | 1.5 | (1.6 | ) | 1.1 | ||||||||||
Cash
flows from operations used in discontinued operations
|
(0.5 | ) | (1.4 | ) | (0.7 | ) | (2.9 | ) | ||||||||
Cash
flows from investing activities provided by (used in) discontinued
operations
|
— | 10.4 | — | 10.4 | ||||||||||||
Increase
(decrease) in cash and cash equivalents
|
$ | (19.7 | ) | $ | 27.5 | $ | 12.5 | $ | (3.7 | ) |
Three
Months Ended
June 30,
|
Six
Months Ended
June 30,
|
|||||||||||||||
2010
|
2009
|
2010
|
2009
|
|||||||||||||
Capital
projects
|
$ | 15.4 | $ | 29.0 | $ | 33.7 | $ | 58.3 | ||||||||
Routine
|
12.4 | 9.5 | 19.8 | 21.0 | ||||||||||||
Information
systems
|
11.8 | 3.5 | 20.1 | 5.8 | ||||||||||||
$ | 39.6 | $ | 42.0 | $ | 73.6 | $ | 85.1 | |||||||||
Depreciation
expense
|
$ | 36.0 | $ | 35.6 | $ | 71.6 | $ | 70.4 | ||||||||
Ratio
of capital expenditures to depreciation expense
|
110.0 | % | 118.0 | % | 103.0 | % | 120.9 | % |
December
31,
2009
|
Payments
of
Borrowings
|
Other
|
Amortization
of
Convertible
Debt
Discounts
|
June 30,
2010
|
||||||||||||||||
Senior
Secured Credit Facilities:
|
||||||||||||||||||||
Term
B Loans
|
$ | 692.9 | $ | — | $ | — | $ | — | $ | 692.9 | ||||||||||
Revolving
Loans
|
— | — | — | — | — | |||||||||||||||
Province
7½% Senior Subordinated Notes
|
6.1 | — | — | — | 6.1 | |||||||||||||||
3¼%
Debentures
|
225.0 | — | — | — | 225.0 | |||||||||||||||
3½%
Notes
|
575.0 | — | — | — | 575.0 | |||||||||||||||
Unamortized
discounts on 3¼% Debentures and 3½% Notes
|
(102.4 | ) | — | — | 11.0 | (91.4 | ) | |||||||||||||
Capital
leases
|
3.2 | (0.7 | ) | 1.1 | — | 3.6 | ||||||||||||||
$ | 1,399.8 | $ | (0.7 | ) | $ | 1.1 | $ | 11.0 | $ | 1,411.2 |
June
30,
2010
|
December
31,
2009
|
Increase
(Decrease)
|
||||||||||
Current
portion of long-term debt
|
$ | 55.4 | $ | 1.0 | $ | 54.4 | ||||||
Long-term
debt
|
1,355.8 | 1,398.8 | (43.0 | ) | ||||||||
Unamortized
discounts of convertible debt instruments
|
91.4 | 102.4 | (11.0 | ) | ||||||||
Total
debt, excluding unamortized discounts of convertible debt
instruments
|
1,502.6 | 1,502.2 | 0.4 | |||||||||
Total
LifePoint Hospitals, Inc. stockholders’ equity
|
1,888.8 | 1,827.7 | 61.1 | |||||||||
Total
capitalization
|
$ | 3,391.4 | $ | 3,329.9 | $ | 61.5 | ||||||
Total
debt to total capitalization
|
44.3 | % | 45.1 | % |
(80)bps
|
|||||||
Percentage
of:
|
||||||||||||
Fixed
rate debt, excluding unamortized discounts of convertible debt
instruments
|
53.9 | % | 53.9 | % | ||||||||
Variable
rate debt (a)
|
46.1 | 46.1 | ||||||||||
100.0 | % | 100.0 | % | |||||||||
Percentage
of:
|
||||||||||||
Senior
debt
|
46.4 | % | 46.3 | % | ||||||||
Subordinated
debt, excluding unamortized discounts of convertible debt
instruments
|
53.6 | 53.7 | ||||||||||
100.0 | % | 100.0 | % |
(a)
|
The
above calculation does not consider the effect of our interest rate swap.
Our interest rate swap mitigates a portion of our floating rate risk on
our outstanding variable rate borrowings which converts our variable rate
debt to an annual fixed rate of 5.585%. Our interest rate swap decreases
our variable rate debt as a percentage of our outstanding debt from 46.1%
to 16.2% as of June 30, 2010 and December 31, 2009. Please refer to Note 7
to our accompanying condensed consolidated financial statements included
elsewhere in this report for a discussion of our interest rate swap
agreement.
|
June
30, 2011
|
$ | 54.4 | ||
September
30, 2011
|
65.4 | |||
December
31, 2011
|
65.4 | |||
April
15,
2012
|
64.0 | |||
February
13, 2014
|
443.7 | |||
$ | 692.9 |
Requirement
|
Level
at
June 30, 2010
|
|||||||
Minimum
Interest Coverage Ratio
|
≥3.50:1.00
|
7.05 | ||||||
Maximum
Total Leverage Ratio
|
≤4.00:1.00
|
2.93 | ||||||
|
•
|
it
requires assumptions to be made that were uncertain at the time the
estimate was made; and
|
|
•
|
changes
in the estimate or different estimates that could have been made could
have a material impact on our consolidated results of operations or
financial condition.
|
|
•
|
Revenue
recognition/Allowance for contractual
discounts;
|
|
•
|
Allowance
for doubtful accounts and provision for doubtful
accounts;
|
|
•
|
Goodwill
impairment analysis;
|
|
•
|
Reserves
for self-insurance claims;
|
|
•
|
Accounting
for stock-based compensation; and
|
|
•
|
Accounting
for income taxes.
|
|
•
|
Legal
proceedings and general liability
claims;
|
|
•
|
Physician
commitments; and
|
|
•
|
Capital
expenditure commitments.
|
Carrying Amount
|
Fair Value
|
|||||||||||||||
June
30,
|
December
31,
|
June
30,
|
December
31,
|
|||||||||||||
2010
|
2009
|
2010
|
2009
|
|||||||||||||
Term
B Loans
|
$ | 692.9 | $ | 692.9 | $ | 662.9 | $ | 673.8 | ||||||||
3½%
Notes, excluding unamortized discounts
|
$ | 575.0 | $ | 575.0 | $ | 530.4 | $ | 536.2 | ||||||||
3¼%
Debentures, excluding unamortized discounts
|
$ | 225.0 | $ | 225.0 | $ | 209.0 | $ | 206.2 |
Period
|
Total
Number
of
Shares
Purchased
|
Weighted
Average
Price
Paid
per Share
|
Total
Number
of
Shares
Purchased
as
Part
of a
Publicly
Announced
Program
|
Approximate
Dollar
Value
of
Shares that
May Yet be
Purchased
Under
the
Program
|
||||||||||||
(In
millions)
|
||||||||||||||||
April
1, 2010 to April 30, 2010
|
22,122 | $ | 38.17 | — | $ | 94.8 | ||||||||||
May
1, 2010 to May 31, 2010
|
936,574 | $ | 34.45 | 916,755 | $ | 63.2 | ||||||||||
June
1, 2010 to June 30, 2010
|
250,000 | $ | 33.86 | 250,000 | $ | 54.7 | ||||||||||
Total
|
1,208,696 | $ | 34.40 | 1,166,755 | $ | 54.7 |
Exhibit
Number
|
Description
|
|
3.1
|
Amended
and Restated Certificate of Incorporation (incorporated by reference from
exhibits to the Registration Statement on Form S-8 filed on April 19,
2005, File No. 333-124093).
|
|
3.2
|
Second
Amended and Restated Bylaws (incorporated by reference from exhibits to
the LifePoint Hospitals, Inc. Current Report on Form 8-K dated October 16,
2006, File No. 000-51251).
|
|
3.3
|
Amendment
No. 1 to the Second Amended and Restated Bylaws of LifePoint Hospitals,
Inc. (incorporated by reference from exhibits to the LifePoint Hospitals,
Inc. Current Report on Form 8-K dated May 20, 2008, File No.
000-51251).
|
|
10.1
|
Amendment,
dated April 27, 2010, to the LifePoint Hospitals, Inc. Amended and
Restated 1998 Long-Term Incentive Plan (incorporated by reference from
Appendix B to the LifePoint Hospitals, Inc. Proxy Statement filed April
29, 2010, File No. 000-51251).*
|
|
10.2
|
Amendment,
dated June 8, 2010, to the LifePoint Hospitals, Inc. Amended and Restated
1998 Long-Term Incentive Plan (incorporated by reference from Appendix A
to the LifePoint Hospitals, Inc. Proxy Statement filed April 29, 2010,
File No. 000-51251).*
|
|
10.3
|
Amendment,
dated April 27, 2010, to the LifePoint Hospitals, Inc. Amended and
Restated Management Stock Purchase Plan (incorporated by reference from
Appendix D to the LifePoint Hospitals, Inc. Proxy Statement filed April
29, 2010, File No. 000-51251).*
|
|
10.4
|
Amendment,
dated June 8, 2010, to the LifePoint Hospitals, Inc. Amended and Restated
Management Stock Purchase Plan (incorporated by reference from Appendix C
to the LifePoint Hospitals, Inc. Proxy Statement filed April 29, 2010,
File No. 000-51251).*
|
|
10.5
|
Amendment,
dated April 27, 2010, to the LifePoint Hospitals, Inc. Amended and
Restated Outside Directors Stock and Incentive Compensation Plan, dated
May 14, 2008 (incorporated by reference from Appendix F to the LifePoint
Hospitals, Inc. Proxy Statement filed April 29, 2010, File No.
000-51251).*
|
|
10.6
|
Amendment,
dated June 8, 2010, to the LifePoint Hospitals, Inc. Amended and Restated
Outside Directors and Incentive Compensation Plan, dated May 14, 2008
(incorporated by reference from Appendix E to the LifePoint Hospitals,
Inc. Proxy Statement filed April 29, 2010, File No.
000-51251).*
|
|
31.1
|
Certification
of the Chief Executive Officer of LifePoint Hospitals, Inc. Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
31.2
|
Certification
of the Chief Financial Officer of LifePoint Hospitals, Inc. Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
32.1
|
Certification
of the Chief Executive Officer of LifePoint Hospitals, Inc. Pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
32.2
|
Certification
of the Chief Financial Officer of LifePoint Hospitals, Inc. Pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
101.INS
|
XBRL
Instance Document.**
|
|
101.SCH
|
XBRL
Taxonomy Extension Schema Document.**
|
|
101.CAL
101.DEF
|
XBRL
Taxonomy Calculation Linkbase Document.**
XBRL
Taxonomy Definition Linkbase Document.**
|
|
101.LAB
|
XBRL
Taxonomy Label Linkbase Document.**
|
|
101.PRE
|
XBRL
Taxonomy Presentation Linkbase
Document.**
|
*
|
Management
Compensation Plan or Arrangement
|
|||
** | Furnished electronically herewith |
LifePoint Hospitals, Inc. | |||
|
By:
|
/s/ Michael S. Coggin | |
Michael S. Coggin | |||
Senior Vice President and | |||
Chief
Accounting Officer
(Principal Accounting Officer)
|
Exhibit
Number
|
Description
|
|
3.1
|
Amended
and Restated Certificate of Incorporation (incorporated by reference from
exhibits to the Registration Statement on Form S-8 filed on April 19,
2005, File No. 333-124093).
|
|
3.2
|
Second
Amended and Restated Bylaws (incorporated by reference from exhibits to
the LifePoint Hospitals, Inc. Current Report on Form 8-K dated October 16,
2006, File No. 000-51251).
|
|
3.3
|
Amendment
No. 1 to the Second Amended and Restated Bylaws of LifePoint Hospitals,
Inc. (incorporated by reference from exhibits to the LifePoint Hospitals,
Inc. Current Report on Form 8-K dated May 20, 2008, File No.
000-51251).
|
|
10.1
|
Amendment,
dated April 27, 2010, to the LifePoint Hospitals, Inc. Amended and
Restated 1998 Long-Term Incentive Plan (incorporated by reference from
Appendix B to the LifePoint Hospitals, Inc. Proxy Statement filed April
29, 2010, File No. 000-51251).*
|
|
10.2
|
Amendment,
dated June 8, 2010, to the LifePoint Hospitals, Inc. Amended and Restated
1998 Long-Term Incentive Plan (incorporated by reference from Appendix A
to the LifePoint Hospitals, Inc. Proxy Statement filed April 29, 2010,
File No. 000-51251).*
|
|
10.3
|
Amendment,
dated April 27, 2010, to the LifePoint Hospitals, Inc. Amended and
Restated Management Stock Purchase Plan (incorporated by reference from
Appendix D to the LifePoint Hospitals, Inc. Proxy Statement filed April
29, 2010, File No. 000-51251).*
|
|
10.4
|
Amendment,
dated June 8, 2010, to the LifePoint Hospitals, Inc. Amended and Restated
Management Stock Purchase Plan (incorporated by reference from Appendix C
to the LifePoint Hospitals, Inc. Proxy Statement filed April 29, 2010,
File No. 000-51251).*
|
|
10.5
|
Amendment,
dated April 27, 2010, to the LifePoint Hospitals, Inc. Amended and
Restated Outside Directors Stock and Incentive Compensation Plan, dated
May 14, 2008 (incorporated by reference from Appendix F to the LifePoint
Hospitals, Inc. Proxy Statement filed April 29, 2010, File No.
000-51251).*
|
|
10.6
|
Amendment,
dated June 8, 2010, to the LifePoint Hospitals, Inc. Amended and Restated
Outside Directors and Incentive Compensation Plan, dated May 14, 2008
(incorporated by reference from Appendix E to the LifePoint Hospitals,
Inc. Proxy Statement filed April 29, 2010, File No.
000-51251).*
|
|
31.1
|
Certification
of the Chief Executive Officer of LifePoint Hospitals, Inc. Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
31.2
|
Certification
of the Chief Financial Officer of LifePoint Hospitals, Inc. Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
32.1
|
Certification
of the Chief Executive Officer of LifePoint Hospitals, Inc. Pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
32.2
|
Certification
of the Chief Financial Officer of LifePoint Hospitals, Inc. Pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
101.INS
|
XBRL
Instance Document.**
|
|
101.SCH
|
XBRL
Taxonomy Extension Schema Document.**
|
|
101.CAL
101.DEF
|
XBRL
Taxonomy Calculation Linkbase Document.**
XBRL
Taxonomy Definition Linkbase Document.**
|
|
101.LAB
|
XBRL
Taxonomy Label Linkbase Document.**
|
|
101.PRE
|
XBRL
Taxonomy Presentation Linkbase
Document.**
|
*
|
Management
Compensation Plan or Arrangement
|
|||
** | Furnished electronically herewith |