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CPMC Annual Report 2009
Community Benefit and Financial Statements

Data from the 2009 CPMC Annual Report (PDF)

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Community Benefit

[Printed Report Page 28-29] [PDF Page 16]

Services For The Poor And Underserved

For The Year Ended December 31	2009		2008
Services	Amount	Percent Of Net Patient Revenue	Amount	Percent Of Net Patient Revenue (As Restated)
Traditional Charity Care	10,215,000	0.89%	7,584,000	0.69%
Unpaid Costs of Public Programs: Medi-Cal	59,208,000	5.13%	57,941,000	5.30%
Unpaid Costs of Public Programs: Medically Indigent Adult (MIA) program	0	0.00%	0	0.00%
Other Benefits for the Poor and Underserved	10,871,000	0.94%	11,403,000	1.04%
Total Quantifiable Services for the Poor and Underserved	80,294,000	6.96%	76,928,000	7.04%

Benefits For The Broader Community

For The Year Ended December 31	2009		2008
Services	Amount	Percent Of Net Patient Revenue	Amount	Percent Of Net Patient Revenue
Nonbilled Services	1,036,000	0.09%	819,000	0.07%
Education and Research	59,492,000	5.16%	51,795,000	4.74%
Cash and In-kind Donations	502,000	0.04%	529,000	0.05%
Other Community Benefits	39,000	0.00%	64,000	0.01%
Total Quantifiable Benefits for the Broader Community	61,069,000	5.29%	53,207,000	4.87%

For The Year Ended December 31	2009		2008
Services	Amount	Percent Of Net Patient Revenue	Amount	Percent Of Net Patient Revenue
Total Quantifiable Community Benefits	141,363,000	12.26%	130,135,000	11.91%
Net Patient Revenue [Includes capitation revenue]	1,153,464,000		1,092,537,000

California Pacific Medical Center Financial Statements

[Printed Report Pages 32-33] [PDF Page 18]

Combined Balance Sheets (In Thousands)

Assets	2009	2008
Current assets: Cash and equivalents	62,100	38,518
Current assets: Short-term investments	123,017	96,801
Current assets: Patient accounts receivable (less allowance for doubtful accounts of $58,584)	174,284	173,002
Current assets: Other receivables	30,914	32,411
Current assets: Inventories	9,423	7,967
Current assets: Other current assets	2,962	4,696
Total current assets	402,700	353,395
Noncurrent investments	240,938	234,793
Property, plant, and equipment (net)	787,173	721,604
Other assets: Unamortized financing costs	1,024	1,374
Other Assets: Investments in health care–related businesses	532	532
Other Assets: Other	28,508	39,756
Other Assets: Total	30,064	41,662
Total assets	1,460,875	1,351,454

Liabilities and Net Assets	2009	2008
Liabilities and net assets: Current liabilities: Current maturities of long-term obligations	3,402	3,449
Liabilities and net assets: Current liabilities: Accounts payable and accrued expenses	159,171	152,259
Total current liabilities	162,573	155,708
Noncurrent liabilities: Long-term obligations, less current maturities	280,658	284,571
Noncurrent liabilities: Other	44,065	39,726
Net assets: Unrestricted	865,601	756,072
Net assets: Temporarily restricted	74,274	73,890
Net assets: Permanently restricted	42,704	41,487
Net Assets: Total	973,579	871,449
Total liabilities and net assets	1,460,875	1,351,454

California Pacific Medical Center Financial Statements

[Printed Report Pages 34-35] [PDF Page 19]

Combined Statement Of Operations And Changes In Net Assets (In Thousands)

Unrestricted net assets	2009	2008
Unrestricted revenues, gains and other support: Patient service revenues	1,194,902	1,129,975
Unrestricted revenues, gains and other support: Investment income	-11,293	-2,302
Other revenues	95,089	94,322
Total revenues	1,278,698	1,221,995
Operating expenses:Salaries and employee benefits	624,166	591,546
Operating expenses: Purchased services	190,806	198,868
Operating expenses: Supplies	135,108	137,386
Operating expenses: Depreciation and amortization	66,603	63,707
Operating expenses: Provision for bad debts	38,146	36,373
Operating expenses: Interest	23,133	19,332
Operating expenses: Rentals and leases	18,679	17,932
Operating expenses: Insurance	7,732	7,624
Operating expenses: Other	42,238	45,555
Total operating expenses	1,145,611	1,118,323
Income	133,087	103,672
Change in net unrealized (losses) on investments	61,542	-78,036
Equity transfers between related entities	-96,014	-54,790
Net assets released from restrictions for equipment acquisition	1,915	5,016
Other	-	-584
Increase in unrestricted net assets	100,530	-24,722

Temporarily restricted net assets	2009	2008
Contributions	7,112	17,470
Investment income	-116	-2
Change in net unrealized gains and losses on investments	7,112	-9,088
Net assets released from restricted net assets	-13,724	-13,877
Increase in temporarily restricted net assets	348	-5,497

Permanently restricted net assets	2009	2008
Contributions	1,216	647
Increase in permanently restricted net assets	1,216	647

Net Assets	2009	2008
Increase in net assets	102,130	-29,572
Net assets, beginning of year	871,449	901,021
Net assets, end of year	973,579	871,449

California Pacific Medical Center Foundation Financial Statements

[Printed Report Pages 76-77] [PDF Page 29]

Combined Statement Of Activities And Changes In Net Assets For The Year Ended December 31

Unrestricted net assets	2009	2008
Unrestricted contributions and other support: Contributions	2,230,069	2,182,708
Investment loss	-6,948,781	-3,234,509
Net assets released from restrictions	13,401,944	12,899,867
Other revenue (expenses)	1,832,850	2,885,806
Service contract with California Pacific Medical Center	6,728,916	6,998,637
Total unrestricted revenues and other support	17,244,998	21,732,509

Unrestricted expenditures and other operating expenses	2009	2008
Program expenditures: California Pacific Medical Center	27,223,049	21,785,054
Program expenditures: Other	566,312	888,948
Total program expenditures	27,789,361	22,674,002
Operating expenses: Management and general	1,893,643	1,673,254
Operating expenses: Fund raising	3,061,268	3,501,219
Total unrestricted expenditures and operating expenses	32,744,272	27,848,475
Change in net unrealized gains and losses on investments	38,604,373	-45,870,318
Change in unrestricted net assets	23,105,099	-51,986,284

Temporarily restricted net assets	2009	2008
Contributions	7,111,158	17,469,813
Investment (loss) income	-56,252	11,778
Change in net unrealized gains and losses on investments	808,031	-704,757
Net assets released from restrictions	-13,401,944	-12,899,867
Change in temporarily restricted net assets	-5,538,647	3,876,967
Permanently restricted assets: Other contributions	1,216,416	646,812
Change in permanently restricted net assets	1,216,416	646,812
Change in net assets	18,782,868	-47,462,505
Net assets, beginning of year	164,069,627	211,532,132
Net assets, end of year	182,852,495	164,069,627

California Pacific Medical Center Foundation Financial Statements

[Printed Report Pages 78-79] [PDF Page 30]

Combined Statements Of Financial Position For The Year Ended December 31

Assets	2009	2008
Current assets: Cash and cash equivalents	3,464,213	9,606,649
Current assets: Short Term investments	122,998,713	97,088,503
Current assets: Pledges and split interest agreements receivable, net	3,000,109	6,278,603
Current assets: Other current assets	900,069	3,042,453
Total current assets	130,363,104	116,016,208
Investments, non-current	51,578,256	42,509,799
Investments in rent property	3,685,000	3,685,000
Pledges and split interest agreements receivable, net, less current portion	11,907,750	13,299,294
Other assets	192,056	334,057
Total assets	197,726,166	175,844,358

Liabilities and net assets	2009	2008
Current liabilities: Accounts payable and accrued liabilities	649,786	704,228
Current liabilities: Obligations under annuity agreements	595,971	595,971
Current liabilities: Due to Due to affiliates	7,706,837	4,130,246
Obligations under annuity agreements	610,824	595,971
Total current liabilities	8,967,447	5,430,445
Obligations under annuity agreements, less current portion	3,229,189	3,511,214
Revocable gifts	2,000,000	2,165,000
Other noncurrent liabilities	677,035	668,072
Net assets: Unrestricted	85,127,455	62,022,357
Net assets: Temporarily restricted	55,021,555	60,560,201
Net assets: Permanently restricted	42,703,485	41,487,069
Net assets: Total	182,852,495	164,069,627
Total liabilities and net assets	197,726,166	175,844,358

Operating activities	2009	2008
Changes in net assets	18,782,868	-47,462,505
Adjustments to reconcile change in net assets to net cash (used in) provided by operating activities: Change in net unrealized gains, losses on investments	-39,412,404	46,575,075
Adjustments to reconcile change in net assets to net cash (used in) provided by operating activities: Net pledges and split interest agreements receivable	4,670,038	6,198,557
Adjustments to reconcile change in net assets to net cash provided by operating activities: Other assets	2,284,385	-94,852
Changes in operating assets and liabilities: Accounts payable and accrued liabilities, other liabilities and revocable gifts	-210,479	766,118
Changes in operating assets and liabilities: Due to California Pacific Medical Center and affiliates	3,576,591	-165,857
Changes in operating assets and liabilities: Obligations under annuity agreements	-267,172	-39,048
Net cash (used in) provided by operating activities	-10,576,173	5,777,428

Investing activities	2009	2008
Purchases and sales of maturities of investments, net	4,433,737	1,740,155

Financing activities	2009	2008
Net increase (decrease) in cash and cash equivalents	-6,142,436	7,517,643
Cash and cash equivalents, beginning of year	9,606,649	2,089,006
Cash and cash equivalents, end of year	3,464,213	9,606,649