Equity Investments

12 Months Ended

Dec. 31, 2015

Equity Investments [Abstract]

Equity Investments Disclosure

14.  EQUITY INVESTMENTS

As of December 31, 2015, the Company owned equity interests of 27.5% in four hospitals in Las Vegas, Nevada, and 26.1% in one hospital in Las Vegas, Nevada, in which Universal Health Services, Inc. owns the majority interest, and an equity interest of 38.0% in three hospitals in Macon, Georgia, in which HCA Holdings, Inc. (“HCA”) owns the majority interest.  

Summarized combined financial information for these unconsolidated entities in which the Company owns an equity interest is as follows (in millions): 

	December 31,
	2015		2014
Current assets	$	283	$	268
Noncurrent assets		838		861
Total assets	$	1,121	$	1,129
Current liabilities	$	111	$	117
Noncurrent liabilities		2		2
Members’ equity		1,008		1,010
Total liabilities and equity	$	1,121	$	1,129

	Year Ended December 31,
	2015		2014		2013
Revenues	$	1,494	$	1,368	$	1,246
Operating costs and expenses		1,287		1,184		1,117
Income from continuing operations before taxes		207		184		130

The summarized financial information was derived from the financial information provided to the Company by those unconsolidated entities. 

In March 2005, the Company began purchasing items, primarily medical supplies, medical equipment and pharmaceuticals, under an agreement with HealthTrust Purchasing Group, L.P. (“HealthTrust”), a group purchasing organization in which the Company is a noncontrolling partner. As part of the HMA merger, the Company acquired HMA’s ownership in HealthTrust. As of December 31, 2015, the Company had a 24.7% ownership interest in HealthTrust.

The Company’s investment in all of its unconsolidated affiliates was $479 million and $470 million at December 31, 2015 and December 31, 2014, respectively, and is included in other assets, net in the accompanying consolidated balance sheets. Included in the Company’s results of operations is the Company’s equity in pre-tax earnings from all of its investments in unconsolidated affiliates, which was $63 million, $48 million and $43 million for the years ended December 31, 2015, 2014 and 2013, respectively.