Stockholders Equity

3 Months Ended

Mar. 31, 2014

Stockholders' Equity [Abstract]

Stockholders' Equity Disclosure

9.  STOCKHOLDERS’ EQUITY   

Authorized capital shares of the Company include 400,000,000shares of capital stock consisting of 300,000,000shares of common stock and 100,000,000shares of preferred stock. Each of the aforementioned classes of capital stock has a par value of $0.01 per share. Shares of preferred stock, none of which were outstanding as of March 31, 2014, may be issued in one or more series having such rights, preferences and other provisions as determined by the Board of Directors without approval by the holders of common stock.

Historically, the Company has not paid any cash dividends. In December 2012, the Company declared and paid a special dividend of $0.25 per share to holders of its common stock at the close of business as of December 17, 2012, which totaled approximately $23 million.  The Company did not pay a cash dividend in 2013 and does not anticipate the payment of any other cash dividends in the foreseeable future. The Company’s Credit Facility limits the Company’s ability to pay dividends and/or repurchase stock to an amount not to exceed $200 million in the aggregate plus an additional $25 million each year plus the aggregate amount of proceeds from the exercise of stock options. The indentures governing the senior and senior secured notes also limit the Company’s ability to pay dividends and/or repurchase stock. As of March 31, 2014, under the most restrictive test under these agreements, the Company has approximately $393 million remaining available with which to pay permitted dividends and/or repurchase shares of stock or its senior and senior secured notes.

The following schedule presents the reconciliation of the carrying amount of total equity, equity attributable to the Company, and equity attributable to the noncontrolling interests for the three-month period ended March 31, 2014 (in millions):

			Community Health Systems, Inc. Stockholders
	Redeemable Noncontrolling Interests		Common Stock		Additional Paid-In Capital		Treasury Stock		Accumulated Other Comprehensive (Loss) Income		Retained Earnings		Noncontrolling Interests		Total Equity
Balance, December 31, 2013	$	358	$	1	$	1,256	$	(7)	$	(67)	$	1,885	$	64	$	3,132
Comprehensive income		11		-		-		-		9		(111)		4		(98)
Distributions to noncontrolling
interests, net of contributions		(12)		-		-		-		-		-		(7)		(7)
Purchase of subsidiary shares
from noncontrolling interests		(4)		-		(1)		-		-		-		-		(1)
Other reclassifications of
noncontrolling interests		-		-		-		-		-		-		-		-
Noncontrolling interests in
acquired entity		335		-		-		-		-		-		20		20
Adjustment to redemption
value of redeemable
noncontrolling interests		4		-		(4)		-		-		-		-		(4)
Repurchases of common stock		-		-		-		-		-		-		-		-
Issuance of common stock
in connection with the
exercise of stock options		-		-		6		-		-		-		-		6
Issuance of shares in exchange for
HMA common stock		-		-		736		-		-		-		-		736
Cancellation of restricted
stock for tax withholdings
on vested shares		-		-		(11)		-		-		-		-		(11)
Excess tax benefit from
exercise of stock options		-		-		2		-		-		-		-		2
Share-based compensation		-		-		11		-		-		-		-		11
Balance, March 31, 2014	$	692	$	1	$	1,995	$	(7)	$	(58)	$	1,774	$	81	$	3,786

The following schedule discloses the effects of changes in the Company’s ownership interest in its less-than-wholly-owned subsidiaries on Community Health Systems, Inc. stockholders’ equity (in millions): 

	Three Months Ended
	March 31, 2014
Net loss attributable to Community Health Systems,
Inc. stockholders	$	(98)
Transfers to the noncontrolling interests:
Net decrease in Community Health Systems, Inc. paid-in
capital for  purchase of subsidiary partnership interests		(1)
Net transfers to the noncontrolling interests		(1)
Change to Community Health Systems, Inc. stockholders’ equity
from net loss attributable to Community Health Systems,
Inc. stockholders and transfers to noncontrolling interests	$	(99)