Financial Summary and Combined Balance Sheet

Published on in Breakthrough Report

A financial summary of revenue and expenditures for Children's Hospital of Philadelphia during the fiscal years of 2020, 2021 and 2022. (Fiscal year ends June 30.)

Sources of Revenue FY 2022 FY 2021 FY 2020
Net Patient Service Revenue $3,088,277,000 $2,713,117,000 $2,542,766,0001
Other Operating Revenue $264,185,000 $318,277,000 $198,193,000
Contributions2 $130,485,000 $88,850,000 $87,088,000
Research $320,651,000 $303,972,000 $249,875,000
Total Sources of Revenue $3,803,598,000 $3,424,216,000 $3,077,922,000

 

Uses of Revenue FY 2022 FY 2021 FY 2020
Salaries, Wages and Employee Benefits $2,021,345,000 $1,747,728,000 $1,634,891,000
Supplies and Expenses $818,222,000 $721,130,000 $675,388,000
Depreciation $207,333,000 $196,933,000 $192,189,000
Interest $12,727,000 $19,299,000 $17,446,000
Research Expenses $465,834,000 $441,111,000 $439,027,000
Uncompensated Care $8,112,000 $15,353,000 $9,765,0003
Provisions for Programmatic Investments $270,125,000 $282,662,000 $109,216,000
Total Uses of Revenue $3,803,698,000 $3,424,216,000 $3,077,922,000

Combined Balance Sheet

Assets FY 202 FY 2021 FY 2020
Cash and Short-term Investments $329,258,000 $631,766,000 $715,362,000
Receivables $875,130,000 $627,744,000 $381,490,000
Other Current Assets $313,368,000 $232,274,000 $232,058,000
Total Current Assets $1,517,756,000 $1,491,784,000 $1,328,910,000
Investments $4,241,152,000 $4,632,292,000 $3,240,019,000
Property, Plant & Equipment (Net) $3,442,114,000 $3,100,508,000 $2,818,825,000
Other Assets $297,282,000 $315,328,000 $112,773,000
Total Investment Assets $7,980,548,000 $8,048,128,000 $6,171,617,000
Total Assets $9,498,304,000 $9,539,912,000 $7,500,527,000

Liabilities and Net Assets FY 2022 FY 2021 FY 2020
Current Portion of Long-term Debt $22,373,000 $21,119,000 $19,581,000
Accounts Payable and Accrued Expenses $649,976,000 $670,485,000 $497,195,000
Total Current Liabilities $672,349,000 $691,604,000 $516,776,000
Long-term Debt $1,269,333,000 $1,322,514,000 $848,116,000
Other Liabilities $520,163,000 $495,662,000 $300,052,000
Total Long-term Liabilities $1,789,496,000 $1,818,176,000 $1,148,218,000
Unrestricted Net Assets $6,334,264,000 $6,366,424,000 $5,287,497,000
Donor Restricted Net Assets $702,195,000 $663,708,000 $548,086,000
Total Net Assets $7,036,459,000 $7,030,132,000 $5,835,583,000
Total Liabilities and Net Assets $9,498,304,000 $9,539,912,000 $7,500,577,000

(1) Net Patient Service Revenue for FY2020 includes $123,583,665 of Implicit Price Concessions (unpaid medical charges) which was previously included in Uncompensated Care.

(2) Includes unrestricted, temporarily restricted and permanently restricted contributions.

(3) $123,583,665 of Implicit Price Concessions (unpaid medical charges) for FY2020, which was included in Uncompensated Care in previous years, is now included in Net Patient Service Revenue.


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