According to its 2014 SEC Form 10-K, “HCA Holdings, Inc. (HCA) is one of the leading health care services companies in the United States. At December 31,2014, we operated 166 hospitals, comprised of 162 general, acute care hospitals; three psychiatric hospitals; and one rehabilitation hospital.’’ The following is an excerpt from HCA’s consolidated balance sheet at December 31, 2014:
Liabilities and stockholders’ Deficit (December 31, dollars in millions)
2014 2013
Current liabilities
Account payable $2,035 $1,803
Accrued Salaries 1,370 1,193
Other accrued expense 1,737 1,913
Long- term debt due
within one year 338 786
Total 5,480 5,695
Long-term debt 29,307 27,590
Professional liability 1,078 949
Income taxes and
other liabilities 1,832 1,525
Stockholders’ deficit
Common stock $0.01par;
authorized
1,800,000,000 shares;
Outstanding 420,477,900
shares- 2014
and 439,604,000 shares-2014 4 4
Capital in excess of par value - 1,386
Accumulated other
comprehensive (323) (257)
Retained deficit (7,575) (9,403)
Stockholders’ deficit
attributable
to HCA Holdings, INC (7,894) (8,270)
Noncontrolling interest 1,396 1,342
(6,498) (6,928)
Total $31,199 $28,831
According to HCA’s 2014 annual report footnotes, the noncontrolling interest relates to non-Wholly owned consolidated partnerships.
HCA reports a shareholders’ deficit of $(6,498) million and noncontrolling interest of $1,396 million at December 31, 2014. What does this say about the relative health of its wholly owned operations and its non-wholly owned operations? Explain.