Lehigh Valley Hospital: When It Matters Most
lvh.org home page Careers at LVH Education @ LVH For Professionals working with LVH
Find a Doctor
Health Care Services
Patients & Visitors
Quality Results
Healthy You
Community
Classes & Events
Health Encyclopedia
Research
Giving to LVH
LVH News
2005 Report to the Community
Home > About Us > Annual Report Archive > 2005 Report to the Community > 2005 Financials

2005 Financials

Financials for Lehigh Valley Health Network and Component Entities

Combined Statements of Financial Position

(In Thousands)

as of June 30
ASSETS 2005 2004
Current assets

Cash and cash equivalents $42,663 $ 43,853
Patient accounts receivable, net 105,693 102,194
Prepaids, inventories and other current assets 26,829 27,646
Assets limited under bond debt service fund 14,205 13,455
Assets limited under primary professional liability and worker’s compensation arrangements 2,932 3,155
Total current assets 192,322 190,303
Noncurrent assets

Assets whose use is limited or restricted:

Assets limited by board for capital improvements 358,685 309,704
Assets limited by board for retained excess professional liability arrangements 13,884 11,108
Assets limited by management 18,614 8,915
Assets limited under bond indenture agreements - held by trustee 8,128 16,527
Assets limited under worker’s compensation arrangements - held by trustee 2,895 1,929
Assets limited under primary professional liability arrangements 12,190 7,870
Assets restricted by donors 81,305 76,262
Assets limited to fund deferred compensation and other liabilities 24,273 20,994
Property and equipment, net 434,464 392,275
Partnership investments and investments in subsidiaries 11,614 10,341
Deferred financing costs, net and other noncurrent assets 24,781 19,425
Total noncurrent assets 990,833 875,350
Total assets $1,183,155 $1,065,653

LIABILITIES AND NET ASSETS 2005 2004
Current liabilities

Accounts Payable $ 28,201 $ 23,688
Accrual for estimated third-party payer settlements 50,291 38,664
Accrued compensation 31,803 24,664
Other accrued expenses 20,617 19,165
Pension 27,900 29,400
Professional liability 1,882 3,111
Worker’s compensation 1,150 1,169
Current portion of long-term debt 7,399 6,339
Total current liabilities 169,243 146,200
Noncurrent liabilities

Long-term debt, net of current portion 365,952 373,320
Deferred compensation and other liabilities funded with matching assets 24,273 20,994
Pension 33,831 37,950
Professional liability 32,813 26,786
Worker’s compensation 2,895 1,929
Other liabilities 9,906 8,875
Total noncurrent liabilities 469,670 469,854
Total liabilities 638,913 616,054
Net assets

Unrestricted 462,937 373,337
Temporarily restricted 25,394 21,303
Permanently restricted 55,911 54,959
Total net assets 544,242 449,599
Total liabilities and net assets $1,183,155 $1,065,653

Combined Revenue Sources and Uses (In Thousands)
SOURCES OF REVENUE 2005 2004
Net Patient Service Revenue $944,538 $783,847
Other Operating Revenue 34,005 33,318
Investment Earnings (Realized) 20,152 12,416
Total Sources of Revenue $998,695 $829,581
USES OF REVENUE

Salaries, Wages and Employee Benefits $432,174 $388,245
Supplies, Purchased Services and Other Expenses 340,115 274,949
Depreciation and Amortization 48,115 45,103
Interest 16,012 15,222
Community Service and Uncompensated Care 84,097 70,848
Provision for New Programs, Facilities and Equipment Replacement 78,182 35,214
Total Uses of Revenue $998,695 $829,581

This page last updated 2/12/08 04:08 PM
ARTICLE TOOLS:

email this article to a friend print this article    Del.icio.us   Stumble It!
2005 Report to the Community

Quality Care
How Advanced Technology Helps You
New technology improves how we care for you and your family. That's why Lehigh Valley Hospital and Health Network invests millions of dollars each year in the most advanced computer technology.






hon cod ©2008 Lehigh Valley Hospital and Health Network
LVH Info Line: 610-402-CARE
Cedar Crest & I-78, P.O. Box 689, Allentown, PA 18105-1556

Lehigh Valley Hospital has campuses in Allentown and Bethlehem, Pa. and serves the Pennsylvania communities of Easton, Doylestown, Quakertown, Hazelton, Lehighton, Perkasie, Pottstown, Pottsville, Reading, Scranton, Wilkes Barre, Stroudsburg, and the Poconos and also Phillipsburg and Flemington, N.J., and western New Jersey. You don't have to travel to Philadelphia or New York for quality health care.

 
Increase the Size of Text by clicking here. Descrease the Size of Text by clicking here Email this story to family and friends. Print this story formatted for your printer.