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Balance Sheets

Years Ending August 31,

,

,

, and

Assets

1.8%

2%

2%

8.6%

receivables

1.1%

4%

0.9% 0.8%

24%

2%

0.7%

0.6%

8%

3%

1.8%

2.3%

1.1% 1.1% 0.0% 0.0%

9%

0.0% 0.9%

25%

-16%

1.8%

16%

8%

4%

100.0% 100.0% 100.0%

% of Change between 2018 & 2017 2018 % of Change between 2018 & 2017 2017 % of Change between 2018 & 2017 2016 2015 2018 2017 2016 2015

4.9%

-18%

8%

2.9% 4.1% 4.1% 3.7%

17%

1.4% 1.1% 1.1% 0.8%

0.5%

9%

0.2% 0.2% 0.2% 0.3%

-100%

ERROR:#DIV/0! 0.0%

0.0% 0.0%

0%

0% 228,200 0.0% 228,200 228,200 3.2% 3.7%

4.1%

20%

6%

0.8% 0.7% 0.8% 0.6%

1%

14%

7%

2.1% 2.2%

ERROR:#DIV/0!

ERROR:#DIV/0!

0.0% 0.0%

1.7% 0.5% 6.2%

-21%

0.8% 1.1% 0.9%

-3%

-1.3%

19.1%

19%

1%

14%

17%

46.1%

10%

0.3% 0.4% 0.3% 0.4%

14%

17%

45.1%

8%

5%

9.7% 10.0%

1%

3%

0.1% 0.1% 0.1% 0.1%

13%

15%

16% 7,214,849 8% 6,229,612 4.3% 5,757,337 5,517,879 100.0% 100.0% 100.0% 100.0%

																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																						Stanford Health Care Consolidated Statements of Operations and Changes in Net	Assets		2015		2016		2017		2018
Common Size Balance Sheets Years Ending August 31, 2015, 2016, 2017, and 2018
				% of Change between 2018 & 2017		2018 ($)		% of Change between 2017 & 2016		2017 ($)		% of Change between 2016 & 2015		2016 ($)		2015 ($)		2018 (%)		2017 (%)		2016 (%)		2015 (%)
Current assets:
Cash and cash equivalents	–						8%	652,256											3%	710,109	4				5%	690,460	475,677	9.																																	0%	1	1.			4%	12.0%		8.		6%
Short term investments	68%	391,314	1		25%	233,533										2%	103,627	101,677	5.4%			3.		7%				1.8%
Patient accounts receivable, net of allowance for doubtful accounts	623,077								9%	610,734	559,933	550,721	9.8%				9.7%	1															0.0%
	Other	1																1%	79,036	–	24%	71,112	23%	92,961	75,427							1.1%	1.6%		1.4%
Inventories	58,884				13%	56,559			16%	50,016	42,935						0.8%							0.9%
Prepaid expenses and other	52,886				17%	42,528	36,273	35,486				0.7%					0.6%
Total current assets	1,857,453		12%	1,724,575		20%	1,533,270	1,281,923	2	5.7%	2	7.7%	26.6%	2	3.2%
Investments	357%	509,781		-16%	111,664	132,273	127,860		7.1%			2.3%
Investments at equity	22%	80,989	66,255
Investments in company managed pools	1,400,839						-2%	1,287,193	-9%	1,316,489	1,440,352	19.4%	20.7%	2	2.9%	26.1%
Assets limited as to use, held by trustee		–			100%	–			75%	58,134	-59%	235,788	580,701				4.1%	1		0.5%
Property and equipment, net						14%	3,279,048		19%	2,869,346	2,401,880	1,923,465	45.4%		46.1%	4	1.7%	3	4.9%
Other assets	-23%	86,739		-18%	112,445	137,637	163,578	1.2%	2.4%	3.0%
Total assets		7,214,849		6,229,612		5,757,337		5,517,879									100.0%
Liabalities and net assets
Current liabilities:
Accounts payable and accrued liabilities	46%	449,192	-8%	307,899		19.1%	335,995	282,134		6.2%	5.8%	5.1%
Accrued salaries and related benefits	209,490	255,759	16.7%	236,819	202,859
Due to related parties	39%	98,942	71,429		41.5%	61,308	43,324
Third-party payor settlements	90%	34,474		-21%	18,149	154.5%	22,948	9,018				0.3%			0.4%					0.2%
Current portion of long-term debt	14,505							-3%	13,335		-1.3%	13,756	13,932
Revolving line of credit																																					ERROR:#DIV/0!	135,000		2.2%
Debt subject to short-term remarketing arrangements				228,200	4.0%
Self-insurance reserves and other	54,933	45,854	23.8%	43,232	34,918
Total current liabilities	1,089,736	1,075,625	15.7%	942,258	814,385	15.1%	1	7.3%	16.4%	14.8%
Self-insurance reserves and others, net of current portion	139,841									10%	130,816	-1.1%	118,994	120,364		1.9%		2.1%
Swap liability	–			26%	182,527	245,966	2.5%		3.9%
Other long-term liabilities	2	92%	122,944	-91%	31,363	51.4%	355,683	234,855			4.3%
Pension liability	-87%	6,650	51,745	27.8%	65,463	51,220								0.1%
Long-term debt, net of current portion	44%	1,711,967	1,189,529	1,220,789	1,237,347	23.7%	21.2%	22.4%
Total liabilities	3,253,665	2,725,044			10.0%	2,703,187	2,458,171		45.1%	43.7%	47.0%	44.5%
Net assets:
Unrestricted:
Stanford Health Care	3,285,398	2,871,113	-0.7%	2,449,037	2,467,393	45.5%	42.5%	44.7%
Nonconrolling interests	–					15%	18,727	22,060	–	12.4%	20,133	22,979
Total unrestricted	3,304,125	2,893,173	-0.9%	2,469,170	2,490,372	45.8%	46.4%	42.9%
Temporarily restricted	648,826	603,251	2.7%	577,086	561,642	9.0%	10.2%
Permanently restricted	8,233	8,144	2.6%	7,894	7,694
Total net assets	3,961,184	3,504,568			-0.2%	3,054,150	3,059,708	54.9%	56.3%	53.0%	55.5%
Total liabilities and net assets

Income Statements

% of Change between 2018 & 2017 2018 ($) % of Change between 2017 & 2016 2017 ($) % of Change between 2016 & 2015 2016 ($) 2015 ($) 2018 (%) 2017 (%) 2016 (%) 2015 (%)

10%

7%

14%

-2% -3% -4%

10%

9%

15%

95% 95%

15%

12%

15%

1.9% 2% 2% 2%

5%

5%

25%

3% 3% 3%

6%

0.1% 0% 0% 0%

10%

9%

15%

100.0% 100% 100% 100%

ERROR:#DIV/0! ERROR:#DIV/0! ERROR:#DIV/0!

ERROR:#DIV/0! ERROR:#DIV/0! ERROR:#DIV/0!

5.3%

45% 40%

7.7%

4.3%

0.9% 1% 1% 1%

9.7%

13% 13% 14%

7.1%

7.4%

26% 26% 26%

3.6% 3% 3% 3%

10.0%

0.7% 1% 1% 1%

Other 24.3%

-1.2%

9.7% 9% 9% 10%

7.3%

-3% -3% -3%

8.8%

95%

92%

5% 4% 8%

12.4%

0.6% 0% 0% 0%

ERROR:#DIV/0!

ERROR:#DIV/0! 0.1% 0%

2.3% 3% 1% 2%

ERROR:#DIV/0!

-3% -2%

ERROR:#DIV/0!

ERROR:#DIV/0!

2%

ERROR:#DIV/0!

ERROR:#DIV/0! -100.0%

ERROR:#DIV/0! ERROR:#DIV/0! -100.0%

3%

9.6%

2% 11%

ERROR:#DIV/0! ERROR:#DIV/0! ERROR:#DIV/0!

41.5%

-2.0% -2% -2% -2%

ERROR:#DIV/0!

-100.0%

0.0% -0% 1%

0.2% 0% 0% -0%

ERROR:#DIV/0! ERROR:#DIV/0! ERROR:#DIV/0!

309.00

0.0% 0% 0% 0%

0.6% 0% -0%

)

)

0% -0% -0%

10% -1% 9%

ERROR:#DIV/0! ERROR:#DIV/0! ERROR:#DIV/0!

3.9%

0.0% 0% 0% 0%

and other

37.8%

0.9% 1% 1% 1%

Contribution income from Stanford Health Care-ValleyCare affiliation ERROR:#DIV/0! ERROR:#DIV/0! -100.0% 62.00 0%

0.0% 0% 0% 0%

0.1% 0% 0% 0%

Net assets released from restrictions used for: ERROR:#DIV/0! ERROR:#DIV/0! ERROR:#DIV/0!

5.7%

-0% -0% -0%

Purchase of property and equipment -76.6%

35.7%

-57.5%

-0.0% -0% -0% -0%

0.9% 1% 0% 1%

ERROR:#DIV/0! ERROR:#DIV/0! ERROR:#DIV/0!

Contributions

200.00 2.00 0.0% 0% 0% 0%

-64.4% 89.00 25.0% 250.00 9900.0% 200.00 2.00 0.0% 0% 0% 0%

1.4%

10% -0% 10%

-0.2%

13.9%

75% 75%

13.0%

14.7% 3,504,568.00 -0.2% 3,054,150.00 3,059,708.00

75%

Stanford Health Care Consolidated Statements of Operations and Changes in Net Assets Years Ending August 31, 2015, 2016, 2017, and 2018
Common Size Income Statements Years Ending August 31, 2015, 2016, 2017, and 2018
Operating revenues:
Net patient service revenue	4,735,366.00	4,311,530.00	4,019,285.00	3,525,014.00	96.4%	97%	98%	99%
Provision for doubtful accounts	-25%	(57,437.00)	-39%	(77,004.00)		-4%	(126,280.00)	(131,601.00)		-1.2%
Net patient service revenue less provision for doubtful accounts	4,677,929.00	4,234,526.00	3,893,005.00	3,393,413.00	9	5.3%				95%
Premium revenue	92,654.00	80,647.00	72,29		2.00	62,893.00
Other revenue	135,597.00	129,324.00	122,996.00	98,718.00	2.8%
Net assets released from restrictions used for operations	-56%	4,366.00	9,904.00	–	40%	9,372.00	15,663.00
Total operating revenues	4,910,546.00	4,454,401.00	4,097,665.00	3,570,687.00
Operating expenses:
Salaries and benefits	2,091,260.00		7.4%	1,986,360.00	2	9.6%	1,850,124.00	1,428,100.00	42.6%		45%
Professioanl services	46,146.00	-14.0%	42,851.00	49,846.00	47,801.00
Supplies		13.9%	667,379.00	10.3%	586,056.00	531,130.00	484,036.00	1	3.6%
Purchased services	1,216,992.00	1,136,020.00	15.9%	1,058,182.00	912,886.00	24.8%
Depreciation and amortization	14.3%	176,742.00	13.4%	154,686.00		24.3%	136,442.00	109,735.00
Interest	-1	8.8%	35,434.00	43,643.00		-2.0%	39,661.00	40,485.00
477,661.00	384,354.00	8.3%	389,199.00	359,368.00
Expense recoveries from related parties	(121,727.00)	8.1%	(113,451.00)	12.1%	(104,965.00)	(93,640.00)	-2.5%
Total operating expenses	4,589,887.00	6.9%	4,220,519.00	20.1%	3,949,619.00	3,288,771.00	93.5%	96%
Income from operations	37.1%	320,659.00	58.0%	233,882.00	-47.5%	148,046.00	281,916.00	6.5%
Interest and investment income	103.1%	31,122.00	15,325.00	–	13.0%	13,635.00	15,680.00
Earnings on equity method investments		37.8%	7,048.00	5,114.00
Increase in value of company managed pools	-23.4%	110,984.00	498.9%	144,829.00	-55.5%	24,181.00	54,	309.00
Interest rate swaps mark to market adjustments					-100.0%	95.2%	(115,958.00)	(59,392.00)
Swap interest and change in value of swap agreements	-43.7%	48,043.00	85,368.00	1.0%
Loss on extinguishment of debt	(47,613.00)	(35.00)	-1.0%													-0%
	Contribution income from Stanford Health Care-ValleyCare affiliation	96,758.00
Excess of revenues over expenses	-2.9%	470,243.00	593.1%	484,518.00	-82.0%	69,904.00	389,236.00		11%
Other change in unrestricted net assets:
Tranfer to Stanford University, net	(98,183.00)	-22.0%	(69,376.00)	33.8%	(88,944.00)	(66,477.00)
Transfer (to) from Lucile Salter Packard Children’s Hospital	2,068.00	-112.4%	(3,300.00)	26,600.00
Change in net unrealized gains on investments	792.1%	9,438.00	-15.0%	1,058.00	-150.9%	1,245.00	(2,445.00)
	Net assets released from restrictions used for:
	Purchase of property and equipment		-76.6%		35.7%	1,320.00		-57.5%	973.00	2,288.00
Change in pension and postretirement liability	357.4%	28,277.00	-7827.5%	6,182.00	-99.6%	(80.00)	(19,461.00)		-1%
Noncontrolling capital distribution, net	-498.7%	(1,		200.00	-130.1%	301.00	1512.9%	(1,000.00)	(	62.00		-0.0%
(Decrease) increase in unrestricted net assets	-3.1%	410,952.00	-2099.8%	424,003.00	-106.4%	(21,202.00)	329,679.00	8.4%
Changes in temporary restricted net assets:
Transfer from Stanford University	-20.8%	2,177.00	2,748.00	-34.9%	2,645.00	4,062.00
	Contributions	57.3%	44,894.00	28,541.00	-60.4%	20,717.00	52,333.00
Investment income	-84.7%	712.00	526.6%	4,662.00	-55.4%	744.00	1,667.00
Gains on company managed pools	71.6%	2,467.00	-14.6%	1,438.00	-33.7%	1,683.00	2,537.00
Operations	-55.9%	(4,366.00)	(9,904.00)	-40.2%	(9,372.00)	(15,663.00)	-0.1%
(309.00)	(1,320.00)	(973.00)	(2,288.00)
Increase in temporary restricted net assets	74.2%	45,575.00	69.4%	26,165.00	-63.8%	15,444.00	42,710.00
Changes in permanently restricted net assets:
	-64.4%		89.00		25.0%		250.00		9900.0%
Increase in permanently restricted net assets
(Decrease) increase in net assets	456,616.00	-8204.0%	450,418.00	-101.5%	(5,558.00)	372,391.00	9.3%
Net assets, beginning of year		14.7%		3,504,568.00		3,054,150.00		3,059,708.00	2,687,317.00	71.4%	69%
Net assets, end of year	3,961,184.00	80.7%	79%	86%