18. SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION

The Senior Notes, which are senior unsecured obligations of CHS, and the 5⅛% Senior Secured Notes are guaranteed on a senior basis by the Company and by certain of its existing and subsequently acquired or organized 100% owned domestic subsidiaries. The Senior Notes and the 5⅛% Senior Secured Notes are fully and unconditionally guaranteed on a joint and several basis, with exceptions considered customary for such guarantees, limited to the release of the guarantee when a subsidiary guarantor’s capital stock is sold, or a sale of all of the subsidiary guarantor’s assets used in operations. The following condensed consolidating financial statements present Community Health Systems, Inc. (as parent guarantor), CHS (as the issuer), the subsidiary guarantors, the subsidiary non-guarantors and eliminations. These condensed consolidating financial statements have been prepared and presented in accordance with SEC Regulation S-X Rule 3-10 “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.”

The accounting policies used in the preparation of this financial information are consistent with those elsewhere in the condensed consolidated financial statements of the Company, except as noted below:

• Intercompany receivables and payables are presented gross in the supplemental condensed consolidating balance sheets.

• Cash flows from intercompany transactions are presented in cash flows from financing activities, as changes in intercompany balances with affiliates, net.

• Income tax expense is allocated from the parent guarantor to the income producing operations (other guarantors and non-guarantors) and the issuer through stockholders’ equity. As this approach represents an allocation, the income tax expense allocation is considered non-cash for statement of cash flow purposes.

• Interest expense, net has been presented to reflect net interest expense and interest income from outstanding long-term debt and intercompany balances.

The Company’s intercompany activity consists primarily of daily cash transfers for purposes of cash management, the allocation of certain expenses and expenditures paid for by the parent on behalf of its subsidiaries, and the push down of investment in its subsidiaries. This activity also includes the intercompany transactions between consolidated entities as part of the Receivables Facility that is further discussed in Note 11. The Company’s subsidiaries generally do not purchase services from one another; thus, the intercompany transactions do not represent revenue generating transactions. All intercompany transactions eliminate in consolidation.

From time to time, the Company sells and/or repurchases noncontrolling interests in consolidated subsidiaries, which may change subsidiaries between guarantors and non-guarantors. Amounts for prior periods are revised to reflect the status of guarantors or non-guarantors as of June 30, 2013.



Condensed Consolidating Balance Sheet
June 30, 2013
	Parent				Other		Non -
	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated

	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	-	$	-	$	132,258	$	118,969	$	-	$	251,227
Patient accounts receivable, net of allowance
for doubtful accounts		-		-		774,919		1,398,145		-		2,173,064
Supplies		-		-		258,767		116,673		-		375,440
Prepaid income taxes		35,697		-		-		-		-		35,697
Deferred income taxes		117,045		-		-		-		-		117,045
Prepaid expenses and taxes		-		23		103,304		30,197		-		133,524
Other current assets		-		-		197,956		72,655		-		270,611
Total current assets		152,742		23		1,467,204		1,736,639		-		3,356,608
Intercompany receivable		500,908		9,587,164		4,370,413		3,556,452		(18,014,937)		-
Property and equipment, net		-		-		4,666,682		2,437,562		-		7,104,244
Goodwill		-		-		2,544,073		1,868,024		-		4,412,097
Other assets, net		-		148,931		1,226,988		782,953		(434,999)		1,723,873
Net investment in subsidiaries		3,123,934		8,716,933		3,729,454		-		(15,570,321)		-
Total assets	$	3,777,584	$	18,453,051	$	18,004,814	$	10,381,630	$	(34,020,257)	$	16,596,822

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$	-	$	94,429	$	22,031	$	2,577	$	-	$	119,037
Accounts payable		-		31		561,863		191,115		-		753,009
Accrued interest		-		110,604		122		430		-		111,156
Accrued liabilities		5,449		-		669,266		329,032		-		1,003,747
Total current liabilities		5,449		205,064		1,253,282		523,154		-		1,986,949
Long-term debt		-		8,834,196		52,851		501,150		-		9,388,197
Intercompany payable		-		5,731,022		12,516,342		8,098,768		(26,346,132)		-
Deferred income taxes		808,489		-		-		-		-		808,489
Other long-term liabilities		1,191		558,838		690,973		203,412		(434,999)		1,019,415
Total liabilities		815,129		15,329,120		14,513,448		9,326,484		(26,781,131)		13,203,050
Redeemable noncontrolling interests in
equity of consolidated subsidiaries		-		-		-		371,413		-		371,413
Equity:
Community Health Systems, Inc. stockholders’
equity:
Preferred stock		-		-		-		-		-		-
Common stock		958		-		1		2		(3)		958
Additional paid-in capital		1,220,523		1,163,635		1,267,401		492,197		(2,923,233)		1,220,523
Treasury stock, at cost		(6,678)		-		-		-		-		(6,678)
Accumulated other comprehensive (loss)
income		(105,267)		(105,267)		(25,793)		-		131,060		(105,267)
Retained earnings		1,852,919		2,065,563		2,249,757		131,630		(4,446,950)		1,852,919
Total Community Health Systems, Inc.
stockholders’ equity		2,962,455		3,123,931		3,491,366		623,829		(7,239,126)		2,962,455
Noncontrolling interests in equity of
consolidated subsidiaries		-		-		-		59,904		-		59,904
Total equity		2,962,455		3,123,931		3,491,366		683,733		(7,239,126)		3,022,359
Total liabilities and equity	$	3,777,584	$	18,453,051	$	18,004,814	$	10,381,630	$	(34,020,257)	$	16,596,822



Condensed Consolidating Balance Sheet
December 31, 2012
	Parent				Other		Non -
	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	-	$	-	$	271,559	$	116,254	$		$	387,813
Patient accounts receivable, net of allowance
for doubtful accounts		-		-		676,649		1,390,730				2,067,379
Supplies		-		-		254,853		113,319				368,172
Prepaid income taxes		49,888		-		-		-				49,888
Deferred income taxes		117,045		-		-		-				117,045
Prepaid expenses and taxes		-		115		86,628		39,818				126,561
Other current assets				-		222,424		79,860				302,284
Total current assets		166,933		115		1,512,113		1,739,981		-		3,419,142
Intercompany receivable		406,534		9,837,904		3,723,120		3,262,823		(17,230,381)		-
Property and equipment, net		-		-		4,660,557		2,491,316		-		7,151,873
Goodwill		-		-		2,544,195		1,863,943		-		4,408,138
Other assets, net		-		165,236		1,273,347		816,373		(627,774)		1,627,182
Net investment in subsidiaries		2,974,965		8,686,242		3,427,182		-		(15,088,389)		-
Total assets	$	3,548,432	$	18,689,497	$	17,140,514	$	10,174,436	$	(32,946,544)	$	16,606,335

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$	-	$	75,679	$	11,103	$	3,129	$	-	$	89,911
Accounts payable		-		74		583,865		241,975		-		825,914
Accrued interest		-		110,091		295		316		-		110,702
Accrued liabilities		7,580		-		748,010		361,103		-		1,116,693
Total current liabilities		7,580		185,844		1,343,273		606,523		-		2,143,220
Long-term debt		-		9,079,392		53,201		318,801		-		9,451,394
Intercompany payable		-		5,639,928		11,693,119		7,822,313		(25,155,360)		-
Deferred income taxes		808,489		-		-		-		-		808,489
Other long-term liabilities		1,156		809,372		675,341		180,950		(627,774)		1,039,045
Total liabilities		817,225		15,714,536		13,764,934		8,928,587		(25,783,134)		13,442,148
Redeemable noncontrolling interests in
equity of consolidated subsidiaries		-		-		-		367,666		-		367,666
Equity:
Community Health Systems, Inc. stockholders’
equity:
Preferred stock		-		-		-		-		-		-
Common stock		929		-		1		2		(3)		929
Additional paid-in capital		1,138,274		1,176,342		1,283,499		690,929		(3,150,770)		1,138,274
Treasury stock, at cost		(6,678)		-		-		-		-		(6,678)
Accumulated other comprehensive (loss)
income		(145,310)		(145,310)		(28,927)		-		174,237		(145,310)
Retained earnings		1,743,992		1,943,929		2,121,007		121,938		(4,186,874)		1,743,992
Total Community Health Systems, Inc.
stockholders’ equity		2,731,207		2,974,961		3,375,580		812,869		(7,163,410)		2,731,207
Noncontrolling interests in equity of
consolidated subsidiaries		-		-		-		65,314		-		65,314
Total equity		2,731,207		2,974,961		3,375,580		878,183		(7,163,410)		2,796,521
Total liabilities and equity	$	3,548,432	$	18,689,497	$	17,140,514	$	10,174,436	$	(32,946,544)	$	16,606,335



Condensed Consolidating Statement of Income
Three Months Ended June 30, 2013

	Parent Guarantor		Issuer		Other Guarantors		Non - Guarantors		Eliminations		Consolidated
	(In thousands)
Operating revenues (net of contractual
allowances and discounts)	$	-	$	(3,982)	$	2,413,268	$	1,358,800	$	-	$	3,768,086
Provision for bad debts		-		-		368,942		162,753		-		531,695
Net operating revenues		-		(3,982)		2,044,326		1,196,047		-		3,236,391
Operating costs and expenses:
Salaries and benefits		-		-		916,695		639,256		-		1,555,951
Supplies		-		-		327,618		170,412		-		498,030
Other operating expenses		-		162		472,485		257,150		-		729,797
Electronic health records incentive reimbursement		-		-		(15,602)		(8,782)		-		(24,384)
Rent		-		-		40,425		31,395		-		71,820
Depreciation and amortization		-		-		131,310		63,295		-		194,605
Total operating costs and expenses		-		162		1,872,931		1,152,726		-		3,025,819
Income from operations		-		(4,144)		171,395		43,321		-		210,572
Interest expense, net		-		(10,779)		149,927		15,908		-		155,056
Loss from early extinguishment of debt		-		-		-		-		-		-
Equity in earnings of unconsolidated affiliates		(29,753)		(24,438)		(13,309)		-		58,446		(9,054)
Income from continuing operations before income taxes		29,753		31,073		34,777		27,413		(58,446)		64,570
Provision for (benefit from) income taxes		-		1,320		12,532		3,633		-		17,485
Income from continuing operations		29,753		29,753		22,245		23,780		(58,446)		47,085
Discontinued operations, net of taxes:
Loss from operations of entities sold		-		-		-		-		-		-
Loss from discontinued operations, net of taxes		-		-		-		-		-		-
Net income		29,753		29,753		22,245		23,780		(58,446)		47,085
Less: Net income attributable to noncontrolling interests		-		-		-		17,332		-		17,332
Net income attributable to Community Health Systems,
Inc. stockholders	$	29,753	$	29,753	$	22,245	$	6,448	$	(58,446)	$	29,753



Condensed Consolidating Statement of Income
Three Months Ended June 30, 2012

	Parent Guarantor		Issuer		Other Guarantors		Non - Guarantors		Eliminations		Consolidated
	(In thousands)
Operating revenues (net of contractual
allowances and discounts)	$	-	$	(2,666)	$	2,349,686	$	1,399,408	$	-	$	3,746,428
Provision for bad debts		-		-		332,152		171,302		-		503,454
Net operating revenues		-		(2,666)		2,017,534		1,228,106		-		3,242,974
Operating costs and expenses:
Salaries and benefits		-		-		884,820		612,626		-		1,497,446
Supplies		-		-		322,987		166,742		-		489,729
Other operating expenses		-		20		448,592		287,613		-		736,225
Electronic health records incentive reimbursement		-		-		(6,313)		(10,489)		-		(16,802)
Rent		-		-		37,085		29,378		-		66,463
Depreciation and amortization		-		-		119,909		59,892		-		179,801
Total operating costs and expenses		-		20		1,807,080		1,145,762		-		2,952,862
Income from operations		-		(2,686)		210,454		82,344		-		290,112
Interest expense, net		-		17,588		123,067		10,952		-		151,607
Loss from early extinguishment of debt		-		-		-		-		-		-
Equity in earnings of unconsolidated affiliates		(83,359)		(86,292)		(45,237)		-		201,707		(13,181)
Income from continuing operations before income taxes		83,359		66,018		132,624		71,392		(201,707)		151,686
Provision for (benefit from) income taxes		-		(17,341)		47,877		18,983		-		49,519
Income from continuing operations		83,359		83,359		84,747		52,409		(201,707)		102,167
Discontinued operations, net of taxes:
Loss from operations of entities sold		-		-		-		-		-		-
Loss from discontinued operations, net of taxes		-		-		-		-		-		-
Net income		83,359		83,359		84,747		52,409		(201,707)		102,167
Less: Net income attributable to noncontrolling interests		-		-		-		18,808		-		18,808
Net income attributable to Community Health Systems,
Inc. stockholders	$	83,359	$	83,359	$	84,747	$	33,601	$	(201,707)	$	83,359



Condensed Consolidating Statement of Income
Six Months Ended June 30, 2013

	Parent Guarantor		Issuer		Other Guarantors		Non - Guarantors		Eliminations		Consolidated
	(In thousands)
Operating revenues (net of contractual
allowances and discounts)	$	-	$	(7,303)	$	4,846,148	$	2,729,105	$	-	$	7,567,950
Provision for bad debts		-		-		707,373		312,436		-		1,019,809
Net operating revenues		-		(7,303)		4,138,775		2,416,669		-		6,548,141
Operating costs and expenses:
Salaries and benefits		-		-		1,835,963		1,297,136		-		3,133,099
Supplies		-		-		651,631		344,240		-		995,871
Other operating expenses		-		239		917,074		520,458		-		1,437,771
Electronic health records incentive reimbursement		-		-		(27,578)		(17,722)		-		(45,300)
Rent		-		-		80,651		62,723		-		143,374
Depreciation and amortization		-		-		260,187		126,576		-		386,763
Total operating costs and expenses		-		239		3,717,928		2,333,411		-		6,051,578
Income from operations		-		(7,542)		420,847		83,258		-		496,563
Interest expense, net		-		3,490		276,393		31,523		-		311,406
Loss from early extinguishment of debt		-		1,295		-		-		-		1,295
Equity in earnings of unconsolidated affiliates		(108,927)		(116,762)		(31,661)		-		232,616		(24,734)
Income from continuing operations before income taxes		108,927		104,435		176,115		51,735		(232,616)		208,596
Provision for (benefit from) income taxes		-		(4,492)		63,463		6,217		-		65,188
Income from continuing operations		108,927		108,927		112,652		45,518		(232,616)		143,408
Discontinued operations, net of taxes:
Loss from operations of entities sold		-		-		-		-		-		-
Loss from discontinued operations, net of taxes		-		-		-		-		-		-
Net income		108,927		108,927		112,652		45,518		(232,616)		143,408
Less: Net income attributable to noncontrolling interests		-		-		-		34,481		-		34,481
Net income attributable to Community Health Systems,
Inc. stockholders	$	108,927	$	108,927	$	112,652	$	11,037	$	(232,616)	$	108,927



Condensed Consolidating Statement of Income
Six Months Ended June 30, 2012

	Parent Guarantor		Issuer		Other Guarantors		Non - Guarantors		Eliminations		Consolidated
	(In thousands)
Operating revenues (net of contractual
allowances and discounts)	$	-	$	(4,430)	$	4,801,625	$	2,732,724	$	-	$	7,529,919
Provision for bad debts		-		-		681,463		308,447		-		989,910
Net operating revenues		-		(4,430)		4,120,162		2,424,277		-		6,540,009
Operating costs and expenses:
Salaries and benefits		-		-		1,783,411		1,239,010		-		3,022,421
Supplies		-		-		651,242		337,066		-		988,308
Other operating expenses		-		335		927,658		517,175		-		1,445,168
Electronic health records incentive reimbursement		-		-		(25,144)		(17,826)		-		(42,970)
Rent		-		-		74,455		59,232		-		133,687
Depreciation and amortization		-		-		235,575		118,580		-		354,155
Total operating costs and expenses		-		335		3,647,197		2,253,237		-		5,900,769
Income from operations		-		(4,765)		472,965		171,040		-		639,240
Interest expense, net		-		33,325		246,623		23,834		-		303,782
Loss from early extinguishment of debt		-		63,429		-		-		-		63,429
Equity in earnings of unconsolidated affiliates		(158,833)		(204,793)		(87,037)		-		425,469		(25,194)
Income from continuing operations before income taxes		158,833		103,274		313,379		147,206		(425,469)		297,223
Provision for (benefit from) income taxes		-		(55,559)		113,130		37,767		-		95,338
Income from continuing operations		158,833		158,833		200,249		109,439		(425,469)		201,885
Discontinued operations, net of taxes:
Loss from operations of entities sold		-		-		-		(466)		-		(466)
Loss from discontinued operations, net of taxes		-		-		-		(466)		-		(466)
Net income		158,833		158,833		200,249		108,973		(425,469)		201,419
Less: Net income attributable to noncontrolling interests		-		-		-		42,586		-		42,586
Net income attributable to Community Health Systems,
Inc. stockholders	$	158,833	$	158,833	$	200,249	$	66,387	$	(425,469)	$	158,833


Condensed Consolidating Statement of Comprehensive Income
Three Months Ended June 30, 2013

	Parent Guarantor		Issuer		Other Guarantors		Non - Guarantors		Eliminations		Consolidated

Net income	$	29,753	$	29,753	$	22,245	$	23,780	$	(58,446)	$	47,085
Other comprehensive income (loss), net of taxes
Net change in fair value of interest rate swaps		21,139		21,139		-		-		(21,139)		21,139
Net change in fair value of available-for-sale securities		(139)		(139)		(139)		-		278		(139)
Amortization and recognition of unrecognized
pension cost components		731		731		731		-		(1,462)		731
Other comprehensive income (loss)		21,731		21,731		592		-		(22,323)		21,731
Comprehensive income		51,484		51,484		22,837		23,780		(80,769)		68,816
Less: Comprehensive income attributable to
noncontrolling interests		-		-		-		17,332		-		17,332
Comprehensive income attributable to Community
Health Systems, Inc. stockholders	$	51,484	$	51,484	$	22,837	$	6,448	$	(80,769)	$	51,484



Condensed Consolidating Statement of Comprehensive Income
Three Months Ended June 30, 2012

	Parent Guarantor		Issuer		Other Guarantors		Non - Guarantors		Eliminations		Consolidated

Net income	$	83,359	$	83,359	$	84,747	$	52,409	$	(201,707)	$	102,167
Other comprehensive income (loss), net of taxes
Net change in fair value of interest rate swaps		9,976		9,976		-		-		(9,976)		9,976
Net change in fair value of available-for-sale securities		(527)		(527)		(527)		-		1,054		(527)
Amortization and recognition of unrecognized
pension cost components		1,140		1,140		1,140		-		(2,280)		1,140
Other comprehensive income (loss)		10,589		10,589		613		-		(11,202)		10,589
Comprehensive income		93,948		93,948		85,360		52,409		(212,909)		112,756
Less: Comprehensive income attributable to
noncontrolling interests		-		-		-		18,808		-		18,808
Comprehensive income attributable to Community
Health Systems, Inc. stockholders	$	93,948	$	93,948	$	85,360	$	33,601	$	(212,909)	$	93,948



Condensed Consolidating Statement of Comprehensive Income
Six Months Ended June 30, 2013

	Parent Guarantor		Issuer		Other Guarantors		Non - Guarantors		Eliminations		Consolidated

Net income	$	108,927	$	108,927	$	112,652	$	45,518	$	(232,616)	$	143,408
Other comprehensive income (loss), net of taxes
Net change in fair value of interest rate swaps		36,909		36,909		-		-		(36,909)		36,909
Net change in fair value of available-for-sale securities		1,670		1,670		1,670		-		(3,340)		1,670
Amortization and recognition of unrecognized
pension cost components		1,464		1,464		1,464		-		(2,928)		1,464
Other comprehensive income (loss)		40,043		40,043		3,134		-		(43,177)		40,043
Comprehensive income		148,970		148,970		115,786		45,518		(275,793)		183,451
Less: Comprehensive income attributable to
noncontrolling interests		-		-		-		34,481		-		34,481
Comprehensive income attributable to Community
Health Systems, Inc. stockholders	$	148,970	$	148,970	$	115,786	$	11,037	$	(275,793)	$	148,970



Condensed Consolidating Statement of Comprehensive Income
Six Months Ended June 30, 2012

	Parent Guarantor		Issuer		Other Guarantors		Non - Guarantors		Eliminations		Consolidated

Net income	$	158,833	$	158,833	$	200,249	$	108,973	$	(425,469)	$	201,419
Other comprehensive income (loss), net of taxes
Net change in fair value of interest rate swaps		20,512		20,512		-		-		(20,512)		20,512
Net change in fair value of available-for-sale securities		2,140		2,140		2,140		-		(4,280)		2,140
Amortization and recognition of unrecognized
pension cost components		2,281		2,281		2,281		-		(4,562)		2,281
Other comprehensive income (loss)		24,933		24,933		4,421		-		(29,354)		24,933
Comprehensive income		183,766		183,766		204,670		108,973		(454,823)		226,352
Less: Comprehensive income attributable to
noncontrolling interests		-		-		-		42,586		-		42,586
Comprehensive income attributable to Community
Health Systems, Inc. stockholders	$	183,766	$	183,766	$	204,670	$	66,387	$	(454,823)	$	183,766



Condensed Consolidating Statement of Cash Flows
Six Months Ended June 30, 2013

	Parent				Other		Non -
	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
	(In thousands)
Net cash (used in) provided by operating
activities	$	(77,788)	$	4,246	$	425,234	$	(42,520)	$	-	$	309,172

Cash flows from investing activities:
Acquisitions of facilities and other related
equipment		-		-		(5,301)		(5,191)		-		(10,492)
Purchases of property and equipment		-		-		(253,801)		(41,190)		-		(294,991)
Proceeds from sale of property and equipment		-		-		1,000		1,056		-		2,056
Increase in other investments		-		-		(109,997)		(24,392)		-		(134,389)
Net cash used in investing activities		-		-		(368,099)		(69,717)		-		(437,816)

Cash flows from financing activities:
Proceeds from exercise of stock options		103,626		-		-		-		-		103,626
Repurchase of restricted stock shares for payroll
tax withholding requirements		(14,569)		-		-		-		-		(14,569)
Stock buy-back		(27,133)		-		-		-		-		(27,133)
Deferred financing costs		-		(924)		-		-		-		(924)
Excess tax benefit relating to
stock-based compensation		6,331		-		-		-		-		6,331
Proceeds from noncontrolling investors in joint
ventures		-		-		-		64		-		64
Redemption of noncontrolling investments in joint
ventures		-		-		-		(701)		-		(701)
Distributions to noncontrolling investors in joint
ventures		-		-		-		(37,937)		-		(37,937)
Changes in intercompany balances with
affiliates, net		9,533		221,906		(203,171)		(28,268)		-		-
Borrowings under credit agreements		-		275,000		20,441		560		-		296,001
Issuance of long-term debt		-		-		-		-		-		-
Proceeds from receivables facility		-		-		-		300,000		-		300,000
Repayments of long-term indebtedness		-		(500,228)		(13,706)		(118,766)		-		(632,700)
Net cash provided by (used in) financing
activities		77,788		(4,246)		(196,436)		114,952		-		(7,942)
Net change in cash and cash equivalents		-		-		(139,301)		2,715		-		(136,586)
Cash and cash equivalents at beginning of period		-		-		271,559		116,254		-		387,813
Cash and cash equivalents at end of period	$	-	$	-	$	132,258	$	118,969	$	-	$	251,227



Condensed Consolidating Statement of Cash Flows
Six Months Ended June 30, 2012

	Parent				Other		Non -
	Guarantor		Issuer		Guarantors		Guarantors		Eliminations		Consolidated
	(In thousands)
Net cash (used in) provided by operating
activities	$	(23,273)	$	(59,325)	$	358,137	$	207,388	$	-	$	482,927

Cash flows from investing activities:
Acquisitions of facilities and other related
equipment		-		-		(237,543)		(7,684)		-		(245,227)
Purchases of property and equipment		-		-		(252,067)		(134,394)		-		(386,461)
Proceeds from sale of property and equipment		-		-		1,460		1,977		-		3,437
Increase in other investments		-		-		(116,339)		(45,977)		-		(162,316)
Net cash used in investing activities		-		-		(604,489)		(186,078)		-		(790,567)

Cash flows from financing activities:
Proceeds from exercise of stock options		1,269		-		-		-		-		1,269
Repurchase of restricted stock shares for payroll
tax withholding requirements		(9,074)		-		-		-		-		(9,074)
Stock buy-back		-		-		-		-		-		-
Deferred financing costs		-		(63,986)		-		-		-		(63,986)
Excess tax benefit relating to
stock-based compensation		1,037		-		-		-		-		1,037
Proceeds from noncontrolling investors in joint
ventures		-		-		-		637		-		637
Redemption of noncontrolling investments in joint
ventures		-		-		-		(35,888)		-		(35,888)
Distributions to noncontrolling investors in joint
ventures		-		-		-		(34,590)		-		(34,590)
Changes in intercompany balances with
affiliates, net		30,041		(16,362)		239,214		(252,893)		-		-
Borrowings under credit agreements		-		3,615,000		18,589		-		-		3,633,589
Issuance of long-term debt		-		1,025,000		-		-		-		1,025,000
Proceeds from receivables facility		-		-		-		300,000		-		300,000
Repayments of long-term indebtedness		-		(4,500,327)		(11,880)		(12,903)		-		(4,525,110)
Net cash provided by (used in) financing
activities		23,273		59,325		245,923		(35,637)		-		292,884
Net change in cash and cash equivalents		-		-		(429)		(14,327)		-		(14,756)
Cash and cash equivalents at beginning of period		-		-		8,920		120,945		-		129,865
Cash and cash equivalents at end of period	$	-	$	-	$	8,491	$	106,618	$	-	$	115,109