UNIVERSAL HEALTH SERVICES INC Segments Disclosure
12) SEGMENT REPORTING
We operate in two reportable segments: Acute Care Hospital Services and Behavioral Health Care Services. Our chief operating decision making (“CODM”) group is comprised of our. The operating segments are managed separately because each operating segment represents a business unit that offers different types of healthcare services or operates in different healthcare environments. The primary profitability measurement utilized by the President and Chief Executive Officer as well as the Presidents of each operating segment is segment income before income taxes. Segment income before income taxes is
utilized by the CODM group during the annual budgeting process and during their reviews of our monthly operating results to monitor each segment’s operating results as compared to prior periods, and the respective operating budgets.
The expenses included in our non-segment operating expenses below include centralized services including, but not limited to, information technology, purchasing, reimbursement, accounting and finance, taxation, legal, advertising and design and construction. The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies included in Note 1-Business and Summary of Significant Accounting Policies. We do not present asset information for our segments as this information is not used to allocate resources.
Note: prior year amounts related to certain facilities previously included in our Behavioral Health Care Services’ results have been reclassified into our Acute Care Hospital Services' results as of May 1, 2024 to conform with current year presentation.
2025 |
|
Acute Care |
|
|
Behavioral |
|
|
Total |
|
|||
|
|
(amounts in thousands) |
|
|||||||||
Net revenue from reportable segments |
|
$ |
9,925,907 |
|
|
$ |
7,425,500 |
|
|
$ |
17,351,407 |
|
|
|
|
|
|
|
|
|
|
|
|||
Reconciliation of Net Revenue |
|
|
|
|
|
|
|
|
|
|||
Non-segment revenue |
|
|
|
|
|
|
|
|
13,422 |
|
||
Total Net Revenue |
|
|
|
|
|
|
|
$ |
17,364,829 |
|
||
|
|
|
|
|
|
|
|
|
|
|||
Salaries, wages and benefits |
|
$ |
3,797,810 |
|
|
$ |
3,893,474 |
|
|
|
|
|
Other segment item operating expenses (a) |
|
|
4,707,603 |
|
|
|
1,848,084 |
|
|
|
|
|
Depreciation and amortization expense |
|
|
388,804 |
|
|
|
220,464 |
|
|
|
|
|
Interest (income) expense, net |
|
|
6,285 |
|
|
|
4,110 |
|
|
|
|
|
Other (income) expense, net |
|
|
(21,533 |
) |
|
|
(1,135 |
) |
|
|
|
|
Reportable segment income before income taxes |
|
$ |
1,046,938 |
|
|
$ |
1,460,503 |
|
|
$ |
2,507,441 |
|
|
|
|
|
|
|
|
|
|
|
|||
Reconciliation of non-segment revenue/expenses to consolidated income before income taxes |
|
|
|
|
|
|
|
|
|
|||
Non-segment revenue |
|
|
|
|
|
|
|
|
13,422 |
|
||
Non-segment operating expenses (b) |
|
|
|
|
|
|
|
|
514,575 |
|
||
Non-segment interest expense, net |
|
|
|
|
|
|
|
|
145,673 |
|
||
Non-segment other (income) expense, net |
|
|
|
|
|
|
|
|
(111,526 |
) |
||
Income before income taxes |
|
|
|
|
|
|
|
$ |
1,972,141 |
|
||
2024 |
|
Acute Care |
|
|
Behavioral |
|
|
Total |
|
|||
|
|
(amounts in thousands) |
|
|||||||||
Net revenue from reportable segments |
|
$ |
8,944,288 |
|
|
$ |
6,873,090 |
|
|
$ |
15,817,378 |
|
|
|
|
|
|
|
|
|
|
|
|||
Reconciliation of Net Revenue |
|
|
|
|
|
|
|
|
|
|||
Non-segment revenue |
|
|
|
|
|
|
|
|
10,557 |
|
||
Total Net Revenue |
|
|
|
|
|
|
|
$ |
15,827,935 |
|
||
|
|
|
|
|
|
|
|
|
|
|||
Salaries, wages and benefits |
|
$ |
3,523,526 |
|
|
$ |
3,590,956 |
|
|
|
|
|
Other segment item operating expenses (a) |
|
|
4,206,890 |
|
|
|
1,720,364 |
|
|
|
|
|
Depreciation and amortization expense |
|
|
368,717 |
|
|
|
205,741 |
|
|
|
|
|
Interest (income) expense, net |
|
|
6,339 |
|
|
|
4,027 |
|
|
|
|
|
Other (income) expense, net |
|
|
(1,305 |
) |
|
|
(3,547 |
) |
|
|
|
|
Reportable segment income before income taxes |
|
$ |
840,121 |
|
|
$ |
1,355,549 |
|
|
$ |
2,195,670 |
|
|
|
|
|
|
|
|
|
|
|
|||
Reconciliation of non-segment revenue/expenses to consolidated income before income taxes |
|
|
|
|
|
|
|
|
|
|||
Non-segment revenue |
|
|
|
|
|
|
|
|
10,557 |
|
||
Non-segment operating expenses (b) |
|
|
|
|
|
|
|
|
529,927 |
|
||
Non-segment interest expense, net |
|
|
|
|
|
|
|
|
175,743 |
|
||
Non-segment other (income) expense, net |
|
|
|
|
|
|
|
|
2,621 |
|
||
Income before income taxes |
|
|
|
|
|
|
|
$ |
1,497,936 |
|
||
2023 |
|
Acute Care |
|
|
Behavioral |
|
|
Total |
|
|||
|
|
(amounts in thousands) |
|
|||||||||
Net revenue from reportable segments |
|
$ |
8,081,402 |
|
|
$ |
6,190,921 |
|
|
$ |
14,272,323 |
|
|
|
|
|
|
|
|
|
|
|
|||
Reconciliation of Net Revenue |
|
|
|
|
|
|
|
|
|
|||
Non-segment revenue |
|
|
|
|
|
|
|
|
9,653 |
|
||
Total Net Revenue |
|
|
|
|
|
|
|
$ |
14,281,976 |
|
||
|
|
|
|
|
|
|
|
|
|
|||
Salaries, wages and benefits |
|
$ |
3,406,060 |
|
|
$ |
3,353,008 |
|
|
|
|
|
Other segment item operating expenses (a) |
|
|
3,762,066 |
|
|
|
1,564,649 |
|
|
|
|
|
Depreciation and amortization expense |
|
|
367,644 |
|
|
|
189,297 |
|
|
|
|
|
Interest (income) expense, net |
|
|
(2,501 |
) |
|
|
4,558 |
|
|
|
|
|
Other (income) expense, net |
|
|
7,788 |
|
|
|
(4,271 |
) |
|
|
|
|
Reportable segment income before income taxes |
|
$ |
540,345 |
|
|
$ |
1,083,680 |
|
|
$ |
1,624,025 |
|
|
|
|
|
|
|
|
|
|
|
|||
Reconciliation of non-segment revenue/expenses to consolidated income before income taxes |
|
|
|
|
|
|
|
|
|
|||
Non-segment revenue |
|
|
|
|
|
|
|
|
9,653 |
|
||
Non-segment operating expenses (b) |
|
|
|
|
|
|
|
|
463,871 |
|
||
Non-segment interest expense, net |
|
|
|
|
|
|
|
|
204,617 |
|
||
Non-segment other (income) expense, net |
|
|
|
|
|
|
|
|
24,764 |
|
||
Income before income taxes |
|
|
|
|
|
|
|
$ |
940,426 |
|
||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 27, 2023 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.