The integrated healthcare delivery system Sutter Health released its financial statements—one of the toughest financial years in Sutter’s 100-year history. In 2020, Sutter Health responded to the COVID-19 pandemic and managed the pandemic’s vast impact across its network. Costs from these and other challenges within Northern California contributed to operating losses of $321 million and a negative 2.4%* operating margin.
Investment income helped offset some losses associated with operations as the organization ended the year with $134 million in 2020 income. Sutter Health posted $645 million in investment income and changes in net unrealized gains and losses from investments in 2020, compared to $737 million the prior year.
Dollars in millions
|Operating Revenue||$ 13,220||$ 13,304|
|(Loss) Income from Operations||(321)||(548)|
|Change in net unrealized gains and losses on investments||440||491|
|Other components of net periodic postretirement cost||78||-|
|Loss on extinguishment of debt||(202)||-|
|Less income attributable to non-controlling interests||(66)||(75)|
|Income attributable to Sutter Health||134||114|
*April 1, 2020 S&P report