Integrated healthcare delivery system Sutter Health has announced its financial performance for 2019. Investment income helped offset the losses associated with operations as the organization ended the year with $114 million in 2019 income. The UFCW/California Attorney General settlement and related litigation expenses, one-time capital costs associated with the opening of the Van Ness Campus in San Francisco, and costs associated with the wildfires and public safety power shutoffs contributed to operating losses of $548 million. Sutter Health posted $737 million in investment income and changes in net unrealized gains and losses from investments in 2019, compared to $(267) million the prior year.
Dollars in millions
2019 | 2018 | |
---|---|---|
Operating Revenue | $ 13,304 | $ 12,697 |
Operating Expenses | 13,852 | 12,586 |
(Loss) Income from Operations | (548) | 111 |
Investment Income | 246 | 187 |
Change in net unrealized gains and losses on investments | 491 | (454) |
Other components of net periodic postretirement cost | - | 90 |
Loss on extinguishment of debt | - | (54) |
(Loss) Income | 189 | (120) |
Less income attributable to non-controlling interests | (75) | (78) |
(Loss) Income attributable to Sutter Health | 114 | (198) |
Capital Investment | $ 662 | $ 924 |