Community Health Systems Q2 10-Q Filed
Ticker: CYH · Form: 10-Q · Filed: Jul 25, 2024 · CIK: 1108109
| Field | Detail |
|---|---|
| Company | Community Health Systems INC (CYH) |
| Form Type | 10-Q |
| Filed Date | Jul 25, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, debt, financials
TL;DR
CYH Q2 10-Q is in: Debt rates vary from 5.25% to 10.875%, with 4.75% notes due 2031.
AI Summary
Community Health Systems Inc. (CYH) filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial instruments mentioned include Senior Secured Notes at 4.75% due 2031, and various debt obligations with interest rates ranging from 5.25% to 10.875%.
Why It Matters
This filing provides investors with an update on Community Health Systems' financial health and debt structure, crucial for understanding the company's stability and future borrowing capacity.
Risk Assessment
Risk Level: medium — The company's financial health is tied to its significant debt obligations, with varying interest rates impacting profitability.
Key Numbers
- 4.75% — Senior Secured Notes Interest Rate (Notes due in 2031)
- 5.25% — Debt Interest Rate (One of the company's debt obligations)
- 10.875% — Debt Interest Rate (Another of the company's debt obligations)
Key Players & Entities
- Community Health Systems Inc. (company) — Filer of the 10-Q
- 4.75% (dollar_amount) — Interest rate on Senior Secured Notes due 2031
- 2031 (date) — Maturity year for Senior Secured Notes
- 5.25% (dollar_amount) — Interest rate on a debt obligation
- 10.875% (dollar_amount) — Interest rate on a debt obligation
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the second quarter of 2024.
What is the interest rate and maturity date for the Senior Secured Notes mentioned?
The Senior Secured Notes are at 4.75% and are due in 2031.
What is the company's fiscal year end?
The company's fiscal year ends on 1231.
What is the business address of Community Health Systems Inc.?
The business address is 4000 Meridian Boulevard, Franklin, TN 37067.
What are some of the other interest rates on the company's debt obligations?
The filing indicates debt obligations with interest rates of 5.25%, 5.625%, 6.875%, and 10.875%.
Filing Stats: 4,506 words · 18 min read · ~15 pages · Grade level 16.3 · Accepted 2024-07-25 16:30:25
Key Financial Figures
- $0.01 — hares of the Registrant's Common Stock, $0.01 par value. Community Health Systems,
Filing Documents
- cyh-20240630.htm (10-Q) — 2375KB
- cyh-ex4_1.htm (EX-4.1) — 213KB
- cyh-ex31_1.htm (EX-31.1) — 15KB
- cyh-ex31_2.htm (EX-31.2) — 15KB
- cyh-ex32_1.htm (EX-32.1) — 6KB
- cyh-ex32_2.htm (EX-32.2) — 6KB
- 0000950170-24-086552.txt ( ) — 11269KB
- cyh-20240630.xsd (EX-101.SCH) — 1236KB
- cyh-20240630_htm.xml (XML) — 2633KB
Financial Statements
Financial Statements: Condensed Consolidated Statements of Loss – Three and Six Months Ended June 30, 2024 and June 30, 2023 (Unaudited) 2 Condensed Consolidated Statements of Comprehensive Loss – Three and Six Months Ended June 30, 2024 and June 30, 2023 (Unaudited) 3 Condensed Consolidated Balance Sheets – June 30, 2024 and December 31, 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows – Six Months Ended June 30, 2024 and June 30, 2023 (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 40 Item 4.
Controls and Procedures
Controls and Procedures 40 Part II. Other Information 41 Item 1.
Legal Proceedings
Legal Proceedings 41 Item 1A.
Risk Factors
Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 3. Defaults Upon Senior Securities 43 Item 4. Mine Safety Disclosures 43 Item 5. Other Information 43 Item 6. Exhibits 44
Signatures
Signatures 45 COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STA TEMENTS OF LOSS (In millions, except share and per share data) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net operating revenues $ 3,140 $ 3,115 $ 6,279 $ 6,223 Operating costs and expenses: Salaries and benefits 1,329 1,338 2,696 2,703 Supplies 483 504 969 1,011 Other operating expenses 882 836 1,727 1,671 Lease cost and rent 73 80 151 161 Depreciation and amortization 125 124 241 255 Impairment and (gain) loss on sale of businesses, net 10 ( 13 ) 27 ( 35 ) Total operating costs and expenses 2,902 2,869 5,811 5,766 Income from operations 238 246 468 457 Interest expense, net 216 207 426 414 Gain from early extinguishment of debt ( 26 ) — ( 26 ) — Equity in earnings of unconsolidated affiliates ( 2 ) ( 1 ) ( 4 ) ( 4 ) Income before income taxes 50 40 72 47 Provision for income taxes 24 38 52 65 Net income (loss) 26 2 20 ( 18 ) Less: Net income attributable to noncontrolling interests 39 40 75 71 Net loss attributable to Community Health Systems, Inc. stockholders $ ( 13 ) $ ( 38 ) $ ( 55 ) $ ( 89 ) Loss per share attributable to Community Health Systems, Inc. stockholders: Basic $ ( 0.10 ) $ ( 0.29 ) $ ( 0.42 ) $ ( 0.68 ) Diluted $ ( 0.10 ) $ ( 0.29 ) $ ( 0.42 ) $ ( 0.68 ) Weighted-average number of shares outstanding: Basic 132,344,504 130,659,672 131,808,274 130,176,976 Diluted 132,344,504 130,659,672 131,808,274 130,176,976 See accompanying notes to the condensed consolidated financial statements. 2 COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (In millions