Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

HCA Healthcare Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017
Revenues	14,945)	15,064)	15,276)	14,435)	13,977)	14,293)	13,311)	11,068)	12,861)	13,523)	12,694)	12,602)	12,517)	12,274)	11,451)	11,529)	11,423)	11,562)	10,696)	10,733)	10,623)
Supplies	(2,321)	(2,414)	(2,463)	(2,380)	(2,224)	(2,370)	(2,128)	(1,748)	(2,123)	(2,232)	(2,090)	(2,118)	(2,041)	(2,002)	(1,890)	(1,917)	(1,915)	(1,947)	(1,777)	(1,795)	(1,797)
Gross profit	12,624)	12,650)	12,813)	12,055)	11,753)	11,923)	11,183)	9,320)	10,738)	11,291)	10,604)	10,484)	10,476)	10,272)	9,561)	9,612)	9,508)	9,615)	8,919)	8,938)	8,826)
Salaries and benefits	(6,939)	(6,999)	(7,094)	(6,385)	(6,301)	(6,329)	(6,097)	(5,330)	(6,118)	(6,105)	(5,971)	(5,837)	(5,647)	(5,485)	(5,377)	(5,274)	(5,289)	(5,181)	(5,081)	(4,896)	(4,901)
Other operating expenses	(2,752)	(2,537)	(2,530)	(2,473)	(2,421)	(2,482)	(2,251)	(2,147)	(2,427)	(2,468)	(2,352)	(2,362)	(2,299)	(2,283)	(2,097)	(2,118)	(2,110)	(2,081)	(2,075)	(1,965)	(1,930)
Government stimulus income (reversal)	—)	—)	—)	—)	—)	—)	(822)	822)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Depreciation and amortization	(732)	(728)	(716)	(712)	(697)	(662)	(694)	(691)	(674)	(694)	(647)	(636)	(619)	(581)	(582)	(562)	(553)	(550)	(539)	(521)	(521)
Gains (losses) on sales of facilities	10)	563)	1,047)	8)	2)	(1)	14)	(27)	7)	1)	—)	18)	(1)	8)	6)	9)	405)	(2)	7)	2)	1)
Operating income	2,211)	2,949)	3,520)	2,493)	2,336)	2,449)	1,333)	1,947)	1,526)	2,025)	1,634)	1,667)	1,910)	1,931)	1,511)	1,667)	1,961)	1,801)	1,231)	1,558)	1,475)
Equity in earnings of affiliates	11)	35)	35)	22)	21)	6)	40)	1)	7)	20)	4)	8)	11)	4)	9)	7)	9)	9)	13)	13)	10)
Interest expense	(408)	(398)	(398)	(386)	(384)	(383)	(385)	(388)	(428)	(438)	(448)	(477)	(461)	(446)	(442)	(436)	(431)	(433)	(427)	(411)	(419)
Losses on retirement of debt	—)	—)	—)	(12)	—)	—)	—)	—)	(295)	—)	(211)	—)	—)	—)	(9)	—)	—)	—)	(39)	—)	—)
Income before income taxes	1,814)	2,586)	3,157)	2,117)	1,973)	2,072)	988)	1,560)	810)	1,607)	979)	1,198)	1,460)	1,489)	1,069)	1,238)	1,539)	1,377)	778)	1,160)	1,066)
Provision for income taxes	(349)	(581)	(685)	(453)	(393)	(378)	(209)	(344)	(112)	(334)	(215)	(271)	(279)	(244)	(173)	(272)	(257)	(736)	(248)	(365)	(289)
Net income	1,465)	2,005)	2,472)	1,664)	1,580)	1,694)	779)	1,216)	698)	1,273)	764)	927)	1,181)	1,245)	896)	966)	1,282)	641)	530)	795)	777)
Net income attributable to noncontrolling interests	(192)	(191)	(203)	(214)	(157)	(268)	(111)	(137)	(117)	(202)	(152)	(144)	(142)	(181)	(137)	(146)	(138)	(167)	(104)	(138)	(118)
Net income attributable to HCA Healthcare, Inc.	1,273)	1,814)	2,269)	1,450)	1,423)	1,426)	668)	1,079)	581)	1,071)	612)	783)	1,039)	1,064)	759)	820)	1,144)	474)	426)	657)	659)

The financial data exhibits several notable trends over the analyzed periods. Revenues generally demonstrate a steady upward trajectory from March 2017 through March 2022, with some fluctuations notably in 2020 likely influenced by external factors impacting the healthcare sector globally. The revenue growth trend is consistent, reflecting expansion or increased service demand.

Supply costs, expressed as negative values, increase modestly over time, aligning with revenue trends but showing some variability. A pronounced dip in supply costs occurs in the first half of 2020, which subsequently rises sharply toward the end of that year and beyond, possibly reflecting operational adjustments or supply chain volatility.

Gross profit follows the revenue pattern, increasing steadily except for a noticeable dip in mid-2020. This dip corresponds with the reduction in revenues and margins likely due to pandemic-related disruption. Recovery thereafter is strong, with gross profit surpassing previous peaks by the end of 2021 and into 2022.

Salaries and benefits costs consistently rise over the entire period, indicating either workforce expansion or wage increases. However, a reduction occurs in mid-2020 before resuming the increasing trend, which may relate to pandemic-induced labor adjustments. Other operating expenses also gradually increase but exhibit a significant decrease around mid-2020, again possibly pandemic-related, before climbing steadily afterward.

Government stimulus income appears only in the second quarter of 2020, reflecting external financial support during that period, which is reversed in the subsequent quarter, suggesting temporary impact without long-term effect on operating expenses.

Depreciation and amortization expenses steadily increase throughout the timeline, consistent with investment in fixed assets or acquisitions. Gains and losses on sales of facilities are sporadic with some significant positive spikes in early 2020 and late 2021, suggesting occasional asset disposals resulting in gains.

Operating income displays variability but generally trends upward, peaking in late 2021. There is a dip during 2020, coinciding with the global health crisis, but a strong recovery follows, supported by increased revenues and controlled operating costs.

Equity earnings from affiliates are relatively minor and fluctuate without a clear trend, indicating a limited but varying contribution to overall income.

Interest expense remains relatively stable, with a slight decline observed in 2020, which could indicate refinancing or debt management efforts. Losses on retirement of debt appear intermittently, with notable expenses in 2019 and 2020, aligning with potential debt restructuring activities.

Income before income taxes parallels operating income trends, showing a decline in 2020 with recovery in subsequent periods, peaking significantly in late 2021. Provision for income taxes varies substantially, with notable higher tax provisions in late 2017 and from late 2020 onward, impacting net income outcomes.

Net income attributable to the company exhibits a strong increase from 2017 through early 2020, a decline during the pandemic’s peak impact periods in 2020, and a robust rebound thereafter. The fluctuations align closely with operational income and tax trends, demonstrating resilience and recovery capability post-challenges.

Overall, the data indicate stable financial growth with temporary setbacks in 2020, consistent with external disruptions. Cost management, particularly in salaries, benefits, and other operating expenses, shows responsiveness to changing conditions. Revenue growth and operational profitability remain strong drivers of net income recovery in the final periods analyzed.

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HCA Healthcare Inc. (NYSE:HCA)

Income Statement Quarterly Data

Income Statement
Quarterly Data