Source: February 24, 2015 Read More →

FINANCIAL STATEMENT

Heartland of Beckley WV, LLC Statement of Operations For the period ended July 31, 2014 (Unaudited) Revenue $8,269,025 Expenses: Operating 15,745,441 General and administrative 248,065 Depreciation 62,186 Interest expense 443,261 Total expenses 16,498,953 Pretax loss (8,229,928) Income tax benefit (3,291,972) Net loss $(4,937,956) Heartland of Beckley WV, LLC Balance Sheet July 31, 2014 (Unaudited) Assets: Cash $1,100 Net accounts receivable 1,569,825 Net property and equipment 3,576,764 Goodwill and intangibles 752,924 Net receivable from affiliated company 1,534,731 Total assets $7,435,344 Liabilities: Payables and accrued expenses $900,724 Financing obligation 12,300,206 Total liabilities 13,200,930 Equity (5,765,586) Total liabilities and equity $7,435,344 Heartland of Beckley WV, LLC is an indirect, wholly-owned subsidiary of HCR ManorCare, Inc. Details concerning the contents of this advertisement are available for inspection at the office of The West Virginia Health Care Cost Review Authority, 100 Dee Drive, Charleston, WV 25311. Heartland of Beckley WV, LLC Statement of Cash Flows For the period ended July 31, 2014 (Unaudited) Operating Activities Net income (loss) $(4,937,956) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation 62,186 Changes in assets and liabilities: Receivables (105,292) Liabilities 352,686 Net cash provided by (used in) operating activities (4,628,376) Investing Activities Investment in property and equipment (49,872) Net cash (used in) provided by investing activities (49,872) Financing Activities Net change in payable to / receivable from affiliated company 4,942,946 Payment of financing obligation (264,698) Net cash (used in) provided by financing activities 4,678,248 Net increase (decrease) in cash – Cash at beginning of year 1,100 Cash at end of period $1,100 Heartland of Beckley WV, LLC is an indirect, wholly-owned subsidiary of HCR ManorCare, Inc. Details concerning the contents of this advertisement are available for inspection at the office of The West Virginia Health Care Cost Review Authority, 100 Dee Drive, Charleston, WV 25311. 2-24-TUE-2-RH; LG 2617