Health Management Announces Fourth Quarter and Year-End 2012 Results

  Health Management Announces Fourth Quarter and Year-End 2012 Results

 Diluted EPS from Continuing Operations for the Fourth Quarter Ended December
                         31, 2012 Increased to $0.19

Business Wire

NAPLES, Fla. -- February 14, 2013

Health Management Associates, Inc. (NYSE: HMA) today announced its
consolidated financial results for the fourth quarter and year ended December
31, 2012.

Key metrics from continuing operations for the fourth quarter (all percentage
changes in the bullet points below compare the fourth quarter of 2012 to the
fourth quarter of 2011) include:

  *As shown in the tables accompanying this press release, diluted earnings
    per share (“EPS”) from continuing operations increased to $0.19. Excluding
    the impact of approximately $20.3 million, or $0.05 per diluted share, of
    interest rate swap accounting and mark-to-market adjustments on the swap
    due to interest rate conditions, and excluding approximately $52.6
    million, or $0.12 per diluted share, of Medicare and Medicaid Healthcare
    Information Technology (“HCIT”) incentive payments, net of Medicaid rate
    adjustments, diluted earnings per share from continuing operations was
    $0.12 per diluted share, as compared to $0.13 per diluted share in the
    prior year. Also impacting the fourth quarter was approximately $0.04 per
    diluted share of incremental legal and investigation expense and
    approximately $0.02 to $0.03 per diluted share related to Mississippi
    Medicaid payment reductions, which were offset by Medicare and Medicaid
    HCIT incentive payments;
  *Net revenue increased 6.6% to $1.481 billion;
  *Adjusted EBITDA increased 13.7% to $254.0 million;
  *Same hospital net revenue increased 5.1% to $1.459 billion;
  *Same hospital net revenue per adjusted admission increased 5.2%;
  *As shown in the accompanying table, same hospital Adjusted EBITDA
    increased 22.2% to $324.9 million, resulting in a 320 basis point
    improvement in margin to 22.3%. Excluding HCIT incentive payments of
    approximately $52.6 million and $38.2 million for the fourth quarter 2012
    and 2011, net of Medicaid rate adjustments, respectively, same hospital
    Adjusted EBITDA increased 19.6% to $272.3 million and same hospital
    Adjusted EBITDA margin increased 230 basis points to 18.7%; and
  *Same hospital surgeries and emergency room visits increased 0.9% and 9.2%,
    respectively.

The tables accompanying this press release include reconciliations of
consolidated net income to all presentations of Adjusted EBITDA (which is not
a GAAP measure) contained in this press release. Those tables also reconcile
earnings per share on a GAAP basis to those amounts presented in this press
release and contain disclaimers and other important information regarding how
Health Management defines and uses Adjusted EBITDA.

The continuing effects of a sluggish economy combined with declines in
uninsured admissions and increases in observation stays contributed to a 4.7%
decline in fourth quarter same hospital admissions and essentially flat same
hospital adjusted admissions.

"Our 2012 results reflect both a challenging and successful fourth quarter and
year. I am very proud of and thankful for the efforts of our physicians,
nurses and health care professionals, whose hard work and dedication to
delivering the best possible care are the reasons for our success,” said Gary
D. Newsome, Health Management’s President and Chief Executive Officer. “While
we are pleased with the overall results, we also recognize that there are
always areas and processes that can be improved. As such, we will continue to
focus on our patient-centered approach, cost management and partnership
opportunities, while taking important strategic steps we believe will better
position Health Management for continued success going forward.”

For the fourth quarter, Health Management’s provision for doubtful accounts
was $234.6 million, or 13.7% of net revenue before the provision for doubtful
accounts, compared to $195.1 million, or 12.3% of net revenue before the
provision of doubtful accounts, for the same quarter a year ago.

Uninsured self-pay patient discounts for the fourth quarter were $334.0
million, compared to $254.5 million for the same quarter a year ago.
Charity/indigent care write-offs were $28.4 million for the fourth quarter,
compared to $23.1 million for the same quarter a year ago.

The sum of uninsured discounts, charity/indigent write-offs and the provision
for doubtful accounts, as a percent of the sum of net revenue before the
provision for doubtful accounts, uninsured discounts and charity/indigent
write-offs (which Health Management refers to as its Uncompensated Patient
Care Percentage) was 28.7% for the fourth quarter, compared to 25.4% for the
fourth quarter a year ago, and 29.0% for the quarter ended September 30, 2012.
Health Management believes that its Uncompensated Patient Care Percentage
provides key information regarding the aggregate level of patient care for
which it does not receive payment.

Cash flow from continuing operating activities for the fourth quarter was
$139.2 million, after cash interest and cash tax payments aggregating $99.7
million. Days sales outstanding, or DSO, saw a one day improvement to 50 days
as of December 31, 2012 compared to 51 days as of December 31, 2011. At
December 31, 2012, Health Management’s total leverage ratio was 3.54 and
interest coverage ratio was 4.36, both ratios being well within its debt
covenant requirements.

For the year ended December 31, 2012, Health Management reported a 15.5%
growth in net revenue to $5.878 billion and a 16.6% increase in Adjusted
EBITDA to $963.2 million, as shown in the accompanying table. Excluding
approximately $71.2 million and $40.0 million of HCIT incentive payments, net
of Medicaid rate adjustments, for 2012 and 2011 respectively, Adjusted EBITDA
increased 13.5% to $892.0 million. As shown in the tables accompanying this
press release, excluding the impact of approximately $103.2 million, or $0.25
per diluted share, for interest rate swap accounting and mark-to-market
adjustments on the swap due to interest rate conditions, and the impact of
approximately $71.2 million, or $0.17 per diluted share, of HCIT incentive
payments, net of Medicaid rate adjustments, for the year ended December 31,
2012, diluted earnings per share from continuing operations increased 5.6% to
$0.75 as compared to $0.71 per diluted share for the year ended December 31,
2011. Consolidated diluted earnings per share from continuing operations were
$0.67 for the year ended December 31, 2012.

Health Management hospitals recognized $60.3 million and $92.0 million of HCIT
incentive payments in the three months and year ended December 31, 2012,
respectively, and $38.2 million and $40.0 million of HCIT incentive payments
for the three months and year ended December 31, 2011, respectively. Health
Management expects to recognize approximately $75.0 to $85.0 million of HCIT
incentive payments during the year ending December 31, 2013.

As previously announced on February 6, 2013, a Health Management subsidiary
has executed a definitive agreement to partner with the 480-bed Bayfront
Health System, located in St. Petersburg, Florida. As part of the joint
venture, Health Management will acquire an 80% interest in Bayfront Health
System, and introduce an affiliation with ShandsHealthCare, part of UF&Shands,
the University of Florida Academic Health Center. The total purchase price for
our 80% interest will be approximately $162 million, plus a working capital
adjustment. The transaction is subject to the execution of a lease agreement
between the partnership and the City of St. Petersburg, as well as customary
regulatory approvals.

Health Management’s executive team will hold a conference call and webcast to
discuss the contents of this press release and Health Management’s
consolidated financial results for the three months and year ended December
31, 2012 on Friday, February 15, 2013 at 11:00 a.m. ET. Investors are invited
to access the webcast via Health Management’s website at www.HMA.com or via
www.streetevents.com. Alternatively, investors may join the conference call by
dialing 877-476-3476.

Health Management will archive a copy of the audio webcast of the conference
call, along with any related information that Health Management may be
required to provide pursuant to Securities and Exchange Commission rules, on
its website under the heading “Investor Relations” for a period of 60 days
following the conference call and webcast.

Health Management enables America's best local health care by providing the
people, processes, capital and expertise necessary for its hospital and
physician partners to fulfill their local missions of delivering superior
health care services. Upon completion of the previously announced transaction
to joint venture the 480-bed Bayfront Health System, Health Management,
through its subsidiaries, will operate 71 hospitals with approximately 11,000
licensed beds in non-urban communities located throughout the United States.

All references to "Health Management," "HMA" or the "Company" used in this
release refer to Health Management Associates, Inc. and its affiliates.

                          Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements are
subject to risks, uncertainties and assumptions and are identified by words
such as "expects," "estimates," "projects," "anticipates," "believes,"
“intends,” "plans," “may,” “continues,” “should,” "could" and other similar
words. All statements addressing operating performance, events or developments
that Health Management Associates, Inc. expects or anticipates will occur in
the future, including but not limited to incurrence of indebtedness,
projections of revenue, income or loss, capital expenditures, earnings per
share, debt structure, the provision for doubtful accounts, capital structure,
repayment of indebtedness, the amount and timing of HCIT incentive payments,
other financial items and operating statistics, statements regarding the plans
and objectives of management for future operations, innovations, or market
service development, statements regarding acquisitions, joint ventures,
divestitures and other proposed or contemplated transactions (including but
not limited to statements regarding the potential for future acquisitions and
perceived benefits of acquisitions), statements of future economic
performance, statements regarding legal proceedings and other loss
contingencies (including but not limited to the timing and amount of costs
incurred in connection with such proceedings), statements regarding market
risk exposures, statements regarding the effects and/or interpretations of
recently enacted or future health care laws and regulations, statements of the
beliefs or assumptions underlying or relating to any of the foregoing
statements, and other statements which are other than statements of historical
fact, are considered to be "forward-looking statements."

Because they are forward-looking, such statements should be evaluated in light
of important risk factors and uncertainties. These risk factors and
uncertainties are more fully described in Health Management Associates, Inc.'s
most recent Annual Report on Form 10-K, for the year ended December 31, 2011
and Quarterly Report on Form 10-Q for the quarterly period ended June 30,
2012, including under the heading entitled "Risk Factors." Should one or more
of these risks or uncertainties materialize, or should any of Health
Management Associates, Inc.'s underlying beliefs or assumptions prove
incorrect, actual results could vary materially from those currently
anticipated. In addition, undue reliance should not be placed on Health
Management Associates, Inc.'s forward-looking statements. Except as required
by law, Health Management Associates, Inc. disclaims any obligation to update
its risk factors or to publicly announce updates to the forward-looking
statements contained in this press release to reflect new information, future
events or other developments.

                                              
HEALTH MANAGEMENT ASSOCIATES, INC.

CONSOLIDATED STATEMENTS OF INCOME

(unaudited, in thousands, except per share amounts)
                                                 
                 Three Months Ended              Twelve Months Ended
                 December 31,                    December 31,
                 2012           2011            2012           2011
                                                                 
                                                                 
Net revenue
before the
provision for    $ 1,715,459     $ 1,583,774     $ 6,752,705     $ 5,804,451
doubtful
accounts
Provision for
doubtful          (234,565  )    (195,127  )    (874,467  )    (716,856  )
accounts
                                                                 
Net revenue       1,480,894     1,388,647     5,878,238     5,087,595 
                                                                 
                                                                 
Salaries and       680,106         637,751         2,622,428       2,302,844
benefits
Supplies           226,354         216,350         903,770         776,598
Rent expense       42,287          43,541          173,033         154,279
Other
operating          338,476         305,865         1,307,826       1,067,980
expenses
Medicare and
Medicaid HCIT      (60,341   )     (38,233   )     (92,026   )     (39,982   )
incentive
payments
Depreciation
and                93,225          73,466          348,941         267,900
amortization
Interest           71,804          70,659          312,547         222,747
expense
Write-offs of
deferred debt      -               24,595          -               24,595
issuance costs
Other             1,983         12            238           (1,771    )
                                                                 
                  1,393,894     1,334,006     5,576,757     4,775,190 
                                                                 
Income from
continuing
operations         87,000          54,641          301,481         312,405
before income
taxes
Provision for     (31,691   )    (16,893   )    (102,622  )    (106,071  )
income taxes
                                                                 
Income from
continuing         55,309          37,748          198,859         206,334
operations
Loss from
discontinued
operations,       (1,812    )    (1,227    )    (7,617    )    (2,409    )
net of income
taxes
                                                                 
Consolidated       53,497          36,521          191,242         203,925
net income
Net income
attributable
to                (5,215    )    (5,674    )    (26,972   )    (25,215   )
noncontrolling
interests
                                                                 
Net income
attributable
to Health        $ 48,282       $ 30,847       $ 164,270      $ 178,710   
Management
Associates,
Inc.
                                                                 
Earnings
(loss) per
share
attributable
to Heath
Management
Associates,                                                      
Inc. common
stockholders:
Basic:
Continuing       $ 0.19          $ 0.13          $ 0.68          $ 0.72
operations
Discontinued      -             -             (0.03     )    (0.01     )
operations
                                                                 
Net income       $ 0.19         $ 0.13         $ 0.65         $ 0.71      
                                                                 
Diluted:
Continuing       $ 0.19          $ 0.13          $ 0.67          $ 0.71
operations
Discontinued      -             -             (0.03     )    (0.01     )
operations
                                                                 
Net income       $ 0.19         $ 0.13         $ 0.64         $ 0.70      
                                                                 
Weighted
average number
of shares
outstanding:
Basic             254,534       252,175       254,217       251,541   
                                                                 
Diluted           258,322       256,032       256,710       255,037   
                                                                 
Net income
attributable
to Health
Management
Associates,
Inc.
Income from
continuing
operations,      $ 50,094        $ 32,074        $ 171,887       $ 181,119
net of income
taxes
Loss from
discontinued
operations,       (1,812    )    (1,227    )    (7,617    )    (2,409    )
net of income
taxes
                                                                 
Net income
attributable
to Health        $ 48,282       $ 30,847       $ 164,270      $ 178,710   
Management
Associates,
Inc.
                                                                             

                                          
HEALTH MANAGEMENT ASSOCIATES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited, in thousands)
                                              
                                              Twelve Months Ended December 31,
                                              2012             2011
                                                                
Cash flows from operating activities:
  Consolidated net income                     $  191,242        $ 203,925
  Adjustments to reconcile consolidated net
  income to net cash provided by continuing                     
  operating activities:
        Depreciation and amortization            359,920          274,526
        Amortization related to interest         78,969           10,384
        rate swap contract
        Fair value adjustment related to         24,201           5,979
        interest rate swap contract
        Provision for doubtful accounts          874,467          716,856
        Stock-based compensation expense         25,599           25,169
        Losses on sales of assets, net           4,790            1,325
        Gains on sales of                        (3,081     )     (518       )
        available-for-sale securities, net
        Write-offs of deferred debt              -                24,045
        issuance costs
        Deferred income tax expense              7,373            79,159
  Changes in assets and liabilities of
  continuing operations, net of the effects                     
  of acquisitions:
        Accounts receivable                      (959,178   )     (870,898   )
        Supplies, prepaid expenses and           (3,877     )     (11,379    )
        other current assets
        Prepaid and recoverable income           29,866           (18,987    )
        taxes
        Deferred charges and other               (975       )     (5,785     )
        long-term assets
        Accounts payable, accrued expenses       (38,062    )     110,811
        and other liabilities
  Equity compensation excess income tax          (1,492     )     (2,999     )
  benefits
  Loss from discontinued operations, net of     7,617          2,409      
  income taxes
                                                                
Net cash provided by continuing operating       597,379        544,022    
activities
                                                                
Cash flows from investing activities:
  Additions to property, plant and               (388,899   )     (302,046   )
  equipment
  Acquisitions of hospitals and other            (73,948    )     (582,090   )
  Proceeds from sales of assets and              2,857            2,765
  insurance recoveries
  Proceeds from sales of discontinued            1,392            4,851
  operations
  Purchases of available-for-sale                (1,947,028 )     (1,385,580 )
  securities
  Proceeds from sales of available-for-sale      1,954,653        1,321,398
  securities
  Increase in restricted funds                  (22,923    )    (35,309    )
                                                                
Net cash used in continuing investing           (473,896   )    (976,011   )
activities
                                                                
Cash flows from financing activities:
  Principal payments on debt and capital         (141,861   )     (2,869,380 )
  lease obligations
  Payments for debt issuance costs               (702       )     (75,149    )
  Proceeds from long-term borrowings             47,000           3,356,970
  Cash payments to noncontrolling                (35,543    )     (28,284    )
  shareholders
  Cash received from noncontrolling              3,591            -
  shareholders
  Proceeds from exercises of stock options       -                14,067
  Equity compensation excess income tax         1,492          2,999      
  benefits
                                                                
Net cash provided by (used in) continuing       (126,023   )    401,223    
financing activities
                                                                
Net decrease in cash and cash equivalents
before
  discontinued operations                        (2,540     )     (30,766    )
Net increases (decreases) in cash and cash
equivalents
  from discontinued operations:
        Operating activities                     (2,295     )     5,991
        Investing activities                    (135       )    (12,894    )
                                                                
Net decrease in cash and cash equivalents        (4,970     )     (37,669    )
Cash and cash equivalents at the beginning      64,143         101,812    
of the period
                                                                
Cash and cash equivalents at the end of the   $  59,173        $ 64,143     
period
                                                                             

                                                         
HEALTH MANAGEMENT ASSOCIATES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS AND STATISTICS
                                                            
                                             December 31,   December 31,
(unaudited, dollars in thousands)            2012           2011
                                                            
Assets
Current assets:
Cash and cash equivalents                    $  59,173      $  64,143
Available-for-sale securities                   121,106        122,277
Accounts receivable, net                        976,872        903,517
Other current assets                            307,847        305,640
Assets of discontinued operations               6,250          14,561
Property, plant and equipment, net              3,463,052      3,263,172
Restricted funds                                125,532        96,244
Other assets                                   1,340,957     1,234,635
                                                            
Total assets                                 $  6,400,789   $  6,004,189
                                                            
                                                            
Liabilities and Stockholders' Equity
Current liabilities                          $  972,423     $  803,824
Deferred income taxes                           301,237        234,080
Other long-term liabilities                     673,344        691,680
Long-term debt                                  3,433,260      3,489,489
Stockholders' equity                           1,020,525     785,116
                                                            
Total liabilities and stockholders' equity   $  6,400,789   $  6,004,189
                                                            

            Three Months Ended December 31,         Twelve Months Ended December 31,
             2012           2011           %        2012           2011           %
                                             Change                                   Change
Continuing
Operations
Occupancy      38.4      %     40.2      %              36.9      %     42.6      %
Patient        357,990         364,916       -1.9 %     1,478,632       1,424,500     3.8  %
days
                                                                                      
Admissions     84,960          88,124        -3.6 %     349,508         338,431       3.3  %
Adjusted       171,186         168,806       1.4  %     692,767         635,547       9.0  %
admissions
                                                                                      
Average
length of      4.2             4.1                      4.2             4.2
stay
Surgeries      97,342          95,429        2.0  %     394,939         342,427       15.3 %
Emergency
room           467,558         416,627       12.2 %     1,820,009       1,562,028     16.5 %
visits
                                                                                      
Net
revenue      $ 1,480,894     $ 1,388,647     6.6  %   $ 5,878,238     $ 5,087,595     15.5 %
(in
thousands)
Net
revenue
per          $ 8,651         $ 8,226         5.2  %   $ 8,485         $ 8,005         6.0  %
adjusted
admission
Total
inpatient      43.8      %     47.3      %              45.1      %     48.1      %
revenue
percentage
Total
outpatient     56.2      %     52.7      %              54.9      %     51.9      %
revenue
percentage
                                                                                      
Same
Hospitals
Occupancy      38.9      %     40.2      %              37.6      %     42.6      %
Patient        354,842         364,916       -2.8 %     1,359,578       1,424,500     -4.6 %
days
                                                                                      
Admissions     83,945          88,124        -4.7 %     322,053         338,431       -4.8 %
Adjusted       168,658         168,806       -0.1 %     631,129         635,547       -0.7 %
admissions
                                                                                      
Average
length of      4.2             4.1                      4.2             4.2
stay
Surgeries      96,257          95,429        0.9  %     349,477         342,427       2.1  %
Emergency
room           454,835         416,627       9.2  %     1,632,610       1,562,028     4.5  %
visits
                                                                                      
Net
revenue      $ 1,458,983     $ 1,388,647     5.1  %   $ 5,358,455     $ 5,087,595     5.3  %
(in
thousands)
Net
revenue
per          $ 8,651         $ 8,226         5.2  %   $ 8,490         $ 8,005         6.1  %
adjusted
admission
Total
inpatient      44.0      %     47.3      %              45.2      %     48.1      %
revenue
percentage
Total
outpatient     56.0      %     52.7      %              54.8      %     51.9      %
revenue
percentage
                                                                                      

                                              
HEALTH MANAGEMENT ASSOCIATES, INC.

SUPPLEMENTAL CONSOLIDATED STATEMENTS OF INCOME INFORMATION

(unaudited, dollars in thousands)
                                                 
                 Three Months Ended              Twelve Months Ended
                 December 31,                    December 31,
                 2012           2011            2012           2011
                                                                 
Net revenue      $ 1,480,894     $ 1,388,647     $ 5,878,238     $ 5,087,595
Less              21,911        -             519,783       -         
acquisitions
                                                                 
Same hospital    $ 1,458,983    $ 1,388,647    $ 5,358,455    $ 5,087,595 
net revenue
                                                                 
                                                                 
Consolidated     $ 53,497        $ 36,521        $ 191,242       $ 203,925
net income
                                                                 
Adjustments:
Loss from
discontinued
operations,        1,812           1,227           7,617           2,409
net of income
taxes
Provision for      31,691          16,893          102,622         106,071
income taxes
Losses on
sales of           2,677           229             4,790           1,325
assets, net
Interest and
other income,      (694      )     (217      )     (4,552    )     (3,096    )
net
Interest           71,804          70,659          312,547         222,747
expense
Write-offs of
deferred debt      -               24,595          -               24,595
issuance costs
Depreciation
and               93,225        73,466        348,941       267,900   
amortization
                                                                 
Adjusted           254,012         223,373         963,207         825,876
EBITDA (a)
                                                                 
Adjustment for
acquisitions,     70,856        42,448        140,627       152,708   
corporate and
other
                                                                 
Same hospital
operating        $ 324,868      $ 265,821      $ 1,103,834    $ 978,584   
Adjusted
EBITDA (a)
                                                                 
Same hospital
operating
Adjusted
EBITDA margins
=
Same hospital
operating
Adjusted          22.3      %    19.1      %    20.6      %    19.2      %
EBITDA / Same
hospital net
revenue (a)
                                                                 
(a) Adjusted EBITDA is defined as consolidated net income before discontinued
operations, net gains (losses) on sales of assets, net interest and other
income, interest expense, income taxes, and depreciation and amortization.
Adjusted EBITDA margin is defined as Adjusted EBITDA divided by net revenue.
Adjusted EBITDA is not a measure determined in accordance with generally
accepted accounting principles in the United States, commonly known as GAAP.
Nevertheless, Health Management believes that providing non-GAAP information
such as Adjusted EBITDA is important for investors and other readers of Health
Management's consolidated financial statements, as it is commonly used as an
analytical indicator within the health care industry and Health Management's
debt facilities contain covenants that use Adjusted EBITDA in their
calculations. Because Adjusted EBITDA is a non-GAAP measure and is thus
susceptible to varying calculations, Adjusted EBITDA, as presented, may not be
directly comparable to other similarly titled measures used by other
companies.
                                                                 

                                                                      
HEALTH MANAGEMENT ASSOCIATES, INC.

SUPPLEMENTAL CONSOLIDATED STATEMENTS OF INCOME INFORMATION

(unaudited, in thousands, except per share amounts)
                                                                            
The following tables provide information regarding income from continuing operations
attributable to Health Management, excluding the impact of interest rate swap
amortization, mark-to-market adjustments, HCIT incentive payments, and Medicaid rate
adjustments. This table is a non-GAAP presentation; nonetheless, Health Management
believes that providing this detail is beneficial to investors and other readers of
Health Management's financial statements due to the significant impact these items had
on income from continuing operations attributable to Health Management.
                                                                            
Three Months Ended December 31, 2012
                                                                            
                               Interest Rate    HCIT Incentive
                               Swap
                               Amortization     Payments, Less
                               and
                 Continuing    Mark-To-Market   Medicaid      Total, As
                                                Rate
                 Operations    Adjustments      Adjustments   Reported
                                                                            
Income from
continuing
operations       $ 54,697      $   (20,268  )   $ 52,571      $ 87,000
before income
taxes
Net income
from
continuing
operations        (5,215  )      -            -           (5,215  )
attributable
to
noncontrolling
interests
                                                                            
Income from
continuing
operations
before income
taxes
attributable
to
Health
Management         49,482          (20,268  )     52,571        81,785
Associates,
Inc.
Provision for     (19,174 )      7,854        (20,371 )    (31,691 )
income taxes
                                                                            
Income from
continuing
operations
attributable
to Health
Management
Associates,
Inc. common      $ 30,308     $   (12,414  )   $ 32,200     $ 50,094  
stockholders
                                                                            
                                                                            
Earnings per
share from
continuing
operations
attributable
to
Health
Management
Associates,
Inc. common
stockholders:
Basic            $ 0.12       $   (0.05    )   $ 0.12       $ 0.19    
                                                                            
Diluted          $ 0.12       $   (0.05    )   $ 0.12       $ 0.19    
                                                                            
                                                                            
Three Months Ended December 31, 2011
                                                                            
                               Interest Rate                  Write-Off
                               Swap                           of
                               Amortization                   Deferred
                               and
                 Continuing    Mark-To-Market   HCIT          Debt          Total, As
                                                Incentive     Issuance
                 Operations    Adjustments      Payments      Costs         Reported
                                                                            
Income from
continuing
operations       $ 57,366      $   (16,363  )   $ 38,233      $ (24,595 )   $ 54,641
before income
taxes
Net income
from
continuing
operations        (5,674  )      -            -           -           (5,674  )
attributable
to
noncontrolling
interests
                                                                            
Income from
continuing
operations
before income
taxes
attributable
to
Health
Management         51,692          (16,363  )     38,233        (24,595 )     48,967
Associates,
Inc.
Provision for     (17,950 )      6,341        (14,815 )    9,531       (16,893 )
income taxes
                                                                            
Income from
continuing
operations
attributable
to Health
Management
Associates,
Inc. common      $ 33,742     $   (10,022  )   $ 23,418     $ (15,064 )   $ 32,074  
stockholders
                                                                            
                                                                            
Earnings per
share from
continuing
operations
attributable
to
Health
Management
Associates,
Inc. common
stockholders:
Basic            $ 0.13       $   (0.04    )   $ 0.10       $ (0.06   )   $ 0.13    
                                                                            
Diluted          $ 0.13       $   (0.04    )   $ 0.10       $ (0.06   )   $ 0.13    
                                                                                      

                                                                        
HEALTH MANAGEMENT ASSOCIATES, INC.

SUPPLEMENTAL CONSOLIDATED STATEMENTS OF INCOME INFORMATION (continued)

(unaudited, in thousands, except per share amounts)
                                                                              
Twelve Months Ended December 31, 2012
                                                                              
                                Interest Rate    HCIT Incentive
                                Swap
                                Amortization     Payments, Less
                                and
                 Continuing     Mark-To-Market   Medicaid      Total, As
                                                 Rate
                 Operations     Adjustments      Adjustments   Reported
                                                                              
Income from
continuing
operations       $ 333,437      $  (103,170  )   $ 71,214      $ 301,481
before income
taxes
Net income
from
continuing
operations        (26,972  )     -             -           (26,972  )
attributable
to
noncontrolling
interests
                                                                              
Income from
continuing
operations
before income
taxes
attributable
to
Health
Management         306,465         (103,170  )     71,214        274,509
Associates,
Inc.
Provision for     (115,005 )     39,978        (27,595 )    (102,622 )
income taxes
                                                                              
Income from
continuing
operations
attributable
to Health
Management
Associates,
Inc. common      $ 191,460     $  (63,192   )   $ 43,619     $ 171,887  
stockholders
                                                                              
                                                                              
Earnings per
share from
continuing
operations
attributable
to
Health
Management
Associates,
Inc. common
stockholders:
Basic            $ 0.76        $  (0.25     )   $ 0.17       $ 0.68     
                                                                              
Diluted          $ 0.75        $  (0.25     )   $ 0.17       $ 0.67     
                                                                              
                                                                              
Twelve Months Ended December 31, 2011
                                                                              
                                Interest Rate                  Write-Off of
                                Swap
                                Amortization                   Deferred
                                and
                 Continuing     Mark-To-Market   HCIT          Debt           Total, As
                                                 Incentive     Issuance
                 Operations     Adjustments      Payments      Costs          Reported
                                                                              
Income from
continuing
operations       $ 313,381      $  (16,363   )   $ 39,982      $ (24,595  )   $ 312,405
before income
taxes
Net income
from
continuing
operations        (25,215  )     -             -           -            (25,215  )
attributable
to
noncontrolling
interests
                                                                              
Income from
continuing
operations
before income
taxes
attributable
to
Health
Management         288,166         (16,363   )     39,982        (24,595  )     287,190
Associates,
Inc.
Provision for     (106,450 )     6,341         (15,493 )    9,531        (106,071 )
income taxes
                                                                              
Income from
continuing
operations
attributable
to Health
Management
Associates,
Inc. common      $ 181,716     $  (10,022   )   $ 24,489     $ (15,064  )   $ 181,119  
stockholders
                                                                              
                                                                              
Earnings per
share from
continuing
operations
attributable
to
Health
Management
Associates,
Inc. common
stockholders:
Basic            $ 0.72        $  (0.04     )   $ 0.10       $ (0.06    )   $ 0.72     
                                                                              
Diluted          $ 0.71        $  (0.04     )   $ 0.10       $ (0.06    )   $ 0.71     
                                                                                         

Contact:

Health Management Associates, Inc.
John C. Merriwether, 239-598-3131
Vice President of Financial Relations
 
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