Over the past two years, the Sutter Health system (Sutter) has responded to the COVID-19 pandemic and managed the pandemic’s vast impact across its Northern California footprint. Through efforts from teams across the network, Sutter reported an operating income of $199 million and an operating margin of 1.4% in 2021—despite ongoing challenges including staffing availability and $500 million per year in inflationary pressures, as well as regulatory and labor costs. Additionally, Sutter posted $880 million in investment income and changes in net unrealized gains and losses from investments in 2021.
Dollars in millions
2021 | 2020 | |
---|---|---|
Operating Revenue | $ 14,225 | $ 13,220 |
Operating Expenses | 14,026 | 13,541 |
Income (loss) from Operations | 199 | (321) |
Investment Income | 758 | 205 |
Change in net unrealized gains and losses on investments | 122 | 440 |
Other components of net periodic postretirement cost | 142 | 78 |
Loss on extinguishment of debt | - | (202) |
Income (loss) | 1,221 | 200 |
Less income attributable to non-controlling interests | (83) | (66) |
Income (loss) attributable to Sutter Health | 1,138 | 134 |
Capital Investment | 378 | 431 |
Read more about Sutter’s 2021 financial performance on Vitals.