Analyst: Fatimah Stout

Major Medical Center Dec-31-2014 Dec-31-2013

Statements of Financial Position Dec-31-2014 $ 2,011.00
$ 42,004
$ 42,004
ASSETS $ 70,758
CURRENT ASSETS
Cash and cash equivalents 4.11% $ 8,065 5.11%
Assets limited as to use 0.51% $ 1,000
Short-term investments 0.71% $ 1,387 0.73%
Receivables for patient care, net 25.34% $ 49,719 27.03%
Pledges receivable 0.92% $ 1,814 1.25%
Inventories, at average cost 0.86% $ 1,690 1.32%
Due from third-party reimbursement 3.33% $ 6,539
Receivables for government grants - 0.27%
Other 1.14% $ 2,234 1.94%
Total Current Assets 36.92% $ 72,448 37.64%

Assets limited as to use:

Sinking fund 7.38% $ 14,487 7.61%
Compensating balance for standby letters of credit 0.47% $ 923
7.85% $ 15,410 7.61%
Long-term investments 0.58% $ 1,132 0.35%
Due from affliates,net 1.74% $ 3,417 2.01%

Pledges receivable,net of allowance for uncollectible pledges 0.96% $ 1,889 0.83%

Property,plant, and equipment net 50.22% $ 98,555 50.96%
Deffered financing costs 0.67% $ 1,323
Other 1.05% $ 2,065 0.59%
100.00% $ 196,239 100.00%
Liabilities and Net Assets
Current Liabilities
Current portion of long-term debt 5.92% $ 11,608 6.52%
Accounts payable and accrued expenses 15.03% $ 29,489 14.37%
Accrued salaries and related liabilities 13.03% $ 25,572 11.41%
Due to third-party reimbursement programs, net - 1.06%
Advances on government grants 0.81% $ 1,587
Total Current Liabilities 34.78% $ 68,256 33.36%

Long-term debt, less current portion 28.30% $ 55,539 27.08%

Accrued post-retirement benefits 3.07% $ 6,023 3.42%
Other Non-current Liabilities 8.38% $ 16,445 9.66%
Total Liabilities 39.75% $ 146,263 40.15%
Commitments and contingencies
Net Assets
Unrestricted 20.68% $ 40,582 21.58%
Temporarily restricted 4.21% $ 8,262 4.27%
Permanently restricted 0.58% $ 1,132 0.64%
Total Net Assets 100.00% $ 49,976 100.00%
$ 196,239
Dec-31-2013

$ 2,011

$ 9,005
-
$ 1,283
$ 47,614
$ 2,205
$ 2,326
$ -
$ 467
$ 3,415
$ 66,315

$ 13,410
-
$ 13,410
$ 618
$ 3,543

$ 1,468
$ 89,777
-
$ 1,043
$ 176,174

$ 11,488
$ 25,311
$ 20,096
$ 1,874
-
$ 58,769

$ 47,709
$ 6,017
$ 17,014
$ 129,509

$ 38,014
$ 7,519
$ 1,132
$ 46,665
$ 176,174
Analyst: Fatimah Stout
Major Medical Center
Statements of Operations

12/31/2014
Operating Revenue
Net Patient service revenue $ 402,921
Other revenue $ 13,356
Net assets released from restrictions $ 4,708
Total Operating Revenue $ 420,985
Operating Expenses
Salaries and wages $ 207,141
Employee benefits $ 44,456
Supplies and expenses $ 137,505
Depreciation and armitization $ 22,541
Research $ 2,457
Interest $ 4,456
Total Operating Expenses $ 418,556
Operating income $ 2,429
Net assets released from restrictions used for capital acquisitions $ 139
Increase in unrestricted net assets $ 2,568

Major Medical Center

Statements of Changes In Net Assets

Unrestricted

Net Assets at December 31, 2012 $ 37,117

Increase in unrestricted net assets $ 897
Restricted contributions,grants, and other receipts $ -
Investment income restricted for specific purposes $ -
Net assets released from restrictions for:
Operating expenses $ -
Capital asset acquisitions $ -
Change in net assets $ 897
Net Assets at December 31, 2013 $ 38,014
Increase in unrestricted net assets $ 2,568
Restricted contributions,grants,and other receipts $ -
Investment restricted forn specific purposes $ -
Net assets released from restrictions for:
operating expenses $ -
Capital asset acquisitions $ -
Change in net assets $ 2,568
Net assets on December 31, 2014 $ 40,582
 12/31/2013

$ 369,512
$ 13,850
$ 2,863
$ 386,225

$ 196,453
$ 44,860
$ 117,838
$ 18,856
$ 2,214
$ 5,253
$ 385,474
$ 751
$ 146
$ 897

Net Assets
Temporarily Restricted Permamently Restricted
(In Thousands)
$ 3,023 $ 1,132
$ - $ -
$ 7,253 $ -
$ 252
$ -
$ (2,863) $ -
$ (146)
$ 4,496 $ -
$ 7,519 $ 1,132
$ - $ -
$ 5,421 $ -
$ 169 $ -

$ (4,708) $ -
$ (139) $ -
$ 743 $ -
$ 8,262 $ 1,132
Analyst: Fatimah Stout

Major Medical Center common size

Statements of Operations
2014 2013

Operating Revenue
Net Patient service revenue 95.71% 95.67%
Other revenue 3.17% 3.59%
Net assets released from restrictions 1.12% 0.74%
Total Operating Revenue 100.00% 100.00%
Operating Expenses
Salaries and wages 49.20% 50.86%
Employee benefits 10.56% 11.61%
Supplies and expenses 32.66% 30.51%
Depreciation and armitization 5.35% 4.88%
Research 0.58% 0.57%
Interest 1.06% 1.36%
Total Operating Expenses 99.42% 99.81%
Operating income 0.58% 0.19%
total percentage 100.00% 100.00%
Analyst: Fatimah Stout

RATIOS 12/31/2014 12/31/2013

Current 1.06 1.13

Quick 1.04 1.09

Days of Cash on Hand 8.71 10.24

Receivables Turnover 8.47 8.11

Average Collection Period 42.52 44.38

Fixed Asset Turnover 3.40 3.52

Total Asset Turnover 2.15 2.19

Debt To Equity 2.93 2.78

Time-Interest-Earned 1.55 1.14

Operating Margin 0.01 0.00194

Total Margin 0.01 0.00232

ROA 0.01 0.00426

RONA 0.05 0.01609