Community Health Systems, Inc.
FORM 11-K For Annual Reports of Employee Stock Purchase, Savings and Similar Plans Pursuant
to Section 15(d) of the Securities Exchange Act of 1934
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934 (FEE REQUIRED) |
For the year ended December 31, 2006
OR
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) |
For the transition period from ___________ to ____________
Commission file number 001-15925
COMMUNITY HEALTH SYSTEMS, INC. 401(k) PLAN
COMMUNITY HEALTH SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
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Delaware
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13-3893191 |
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(State or other jurisdiction of incorporation or
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I.R.S. Employer |
organization)
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Identification Number) |
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4000 Meridian Boulevard
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Franklin, Tennessee
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37067 |
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(Address of principal executive offices)
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(Zip Code) |
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Registrants telephone number, including area code:
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(615) 465-7000 |
COMMUNITY HEALTH SYSTEMS, INC. 401(k) PLAN
Schedules other than that listed above have been omitted due to the absence of the conditions under
which they are required.
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Participants and the Retirement Committee of
Community Health Systems, Inc. 401(k) Plan
Franklin, Tennessee
We have audited the accompanying statements of net assets available for benefits of Community
Health Systems, Inc. 401(k) Plan (the Plan) as of December 31, 2006 and 2005, and the related
statements of changes in net assets available for benefits for the years then ended. These
financial statements are the responsibility of the Plans management. Our responsibility is to
express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. The
Plan is not required to have, nor were we engaged to perform, an audit of its internal control over
financial reporting. Our audits included consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the effectiveness of the Plans internal control
over financial reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material respects, the net assets
available for benefits of the Plan as of December 31, 2006 and 2005, and the changes in net assets
available for benefits for the years then ended in conformity with accounting principles generally
accepted in the United States of America.
Our audits were conducted for the purpose of forming an opinion on the basic financial statements
taken as a whole. The supplemental schedule of Assets (Held at End of Year) as of December 31,
2006 is presented for the purpose of additional analysis and is not a required part of the basic
financial statements, but is supplementary information required by the Department of Labors Rules
and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. This schedule is the responsibility of the Plans management. Such schedule has been
subjected to the auditing procedures applied in our audit of the basic 2006 financial statements
and, in our opinion, is fairly stated in all material respects when considered in relation to the
basic financial statements taken as a whole.
/s/ Deloitte & Touche LLP
Nashville, Tennessee
June 28, 2007
1
COMMUNITY HEALTH SYSTEMS, INC. 401(k) PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2006 AND 2005
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2006 |
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2005 |
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ASSETS |
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Investments at fair value: |
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Investments |
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$ |
287,753,373 |
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$ |
230,550,046 |
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Participant notes receivable |
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7,107,791 |
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5,528,646 |
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Total investments |
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294,861,164 |
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236,078,692 |
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Receivables: |
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Participant contributions |
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1,721,212 |
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1,374,546 |
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Employer matching contribution |
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10,399,039 |
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8,540,810 |
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Total receivables |
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12,120,251 |
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9,915,356 |
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TOTAL ASSETS |
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306,981,415 |
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245,994,048 |
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LIABILITIES |
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Forfeitures in suspense |
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195,799 |
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276,715 |
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Administrative fees |
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77,999 |
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86,287 |
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TOTAL LIABILITIES |
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273,798 |
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363,002 |
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NET ASSETS AVAILABLE FOR BENEFITS AT FAIR VALUE |
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306,707,617 |
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245,631,046 |
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Adjustments from fair value to contract value for fully benefit -
responsive investment contracts |
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945,791 |
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768,970 |
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NET ASSETS AVAILABLE FOR BENEFITS |
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$ |
307,653,408 |
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$ |
246,400,016 |
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See notes to financial statements
2
COMMUNITY HEALTH SYSTEMS, INC. 401(k) PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2006 AND 2005
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2006 |
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2005 |
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Additions to net assets attributed to: |
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Investment income: |
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Net appreciation in fair value
of investments |
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$ |
9,684,953 |
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$ |
12,109,174 |
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Interest |
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375,722 |
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214,392 |
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Dividends |
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13,807,985 |
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6,433,688 |
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Total investment income |
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23,868,660 |
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18,757,254 |
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Contributions: |
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Participant |
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45,150,408 |
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38,151,903 |
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Rollovers |
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3,577,579 |
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3,364,092 |
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Employer matching |
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10,399,039 |
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8,540,810 |
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Total contributions |
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59,127,026 |
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50,056,805 |
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Total additions |
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82,995,686 |
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68,814,059 |
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Deductions from net assets attributed to: |
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Benefits paid to participants |
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21,154,668 |
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25,242,282 |
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Conversions |
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2,028,614 |
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Forfeitures in suspense |
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195,799 |
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276,715 |
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Participant paid administrative fees |
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391,827 |
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398,439 |
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Total deductions |
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21,742,294 |
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27,946,050 |
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Net increase |
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61,253,392 |
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40,868,009 |
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Net assets available for benefits: |
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Beginning of year |
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246,400,016 |
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205,532,007 |
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End of year |
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$ |
307,653,408 |
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$ |
246,400,016 |
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See notes to financial statements
3
COMMUNITY HEALTH SYSTEMS, INC. 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2006 AND 2005
1. DESCRIPTION OF THE PLAN
General. Effective February 1, 1987, Community Health Investment Corporation, a wholly-owned
subsidiary of Community Health Systems, Inc. (the Company, the Plan Administrator, or CHS),
adopted and approved the creation of the Community Health Systems, Inc. 401(k) Plan (the Plan).
Subsequently, the Plan was adopted by the Company and its wholly-owned and majority-owned
subsidiaries. The Plan and related trust are maintained for the exclusive benefit of the Plan
participants, and no part of the trust may ever revert to the Company, except forfeitures of any
unvested portion of a participants Matching Account, which may offset future Company
contributions. Participants should refer to the Plan agreement for a complete description of the
Plans provisions.
For those participating facilities of the Company, including the corporate offices, participation
in the Plan is available to primarily all full-time employees after completion of six months of
eligible service, as defined in the Plan document, or upon reaching the employees 21st
birthday, whichever is later. Company employment includes all previous service with an acquired
employer. All employees of the company are entitled to participate with the exception of most
individuals covered by a collective bargaining contract or by other retirement plans to which the
Company is required to contribute. In certain circumstances specified in the Plan agreement, these
employees are also eligible to participate.
Forrest City Medical Center was acquired March 1, 2006 and commenced participation into the Plan on
April 1, 2006. Cherokee Medical Center and DeKalb Regional Medical Center were both acquired on
April 1, 2006 and commenced participation into the Plan on that date. Ponca City Medical Center
was acquired May 1, 2006 and commenced participation into the Plan on that date. Mineral Area
Regional Medical Center was acquired on June 1, 2006 and commenced participation into the Plan on
July 1, 2006. Vista Medical Center was acquired on July 1, 2006 and commenced participation into
the Plan on that date. HomeCare PRN was acquired on September 1, 2006 and commenced participation
into the Plan on October 1, 2006. Union County Hospital and Weatherford Regional Medical Center
were both acquired on November 1, 2006 and commenced participation into the Plan on that date.
Highland Medical Center was divested on March 18, 2006 and ceased participation in the Plan on that
date.
Chestnut Hill Hospital was acquired March 1, 2005 and commenced participation into the Plan on
April 1, 2005. Bedford County Regional Hospital was acquired on July 1, 2005 and commenced
participation into the Plan on August 1, 2005. Newport Hospital was acquired on October 1, 2005
and commenced participation into the Plan on October 1, 2005. Bradley Memorial Hospital and
Sunbury Community Hospital were both acquired on October 1, 2005 and commenced participation into
the Plan on November 1, 2005.
Scott County Hospitals lease expired on January 31, 2005 and ceased participation in the Plan on
that date.
Lakeview Community Hospital, Edge Regional Hospital, The Kings Daughter Hospital and Northeast
Medical Center were sold on March 31, 2005 and ceased participation in the Plan on that date.
4
Administration. The Plan is administered by the Companys Retirement Committee of not less than
three persons, all appointed by the Companys Board of Directors. The Retirement Committee is
responsible for carrying out the provisions of the Plan, including the selection of the trustee.
Scudder Trust Company (Trustee) serves as trustee for the Plan. The Trustee holds, invests and
administers the trust assets and contributions of the Plan.
Contributions. Eligible employees electing to participate in the Plan may make contributions by
payroll deductions of 1% to 25% of basic compensation as defined in the Plan document, to the
extent not exceeding Internal Revenue Service (IRS) imposed limitations on contributions ($15,000
for 2006 and $14,000 for 2005 Plan years). Participants who have attained age 50 before the close
of the calendar year shall be eligible to make catch-up contributions up to $5,000 for 2006.
Employee contributions beyond specific Plan thresholds are reimbursed to the participants. Prior
to each Plan year, employer contribution percentages are determined by the Plan Administrator. The
standard employer matching contribution is 33.34% of the first 6% of eligible employee
contributions. Employer matching contributions for 2006 and 2005 for certain hospitals ranged from
33.34% to 50% of the first 6% of eligible compensation the employee contributes to the Plan. The
employer matching contribution may be made in the form of cash or shares of Company common stock.
In either case, the matching contribution is deposited into the CHS Unitized Stock Portfolio, which
purchases Company stock on the open market. Any matching contribution made to the participants
account is initially held in the CHS Unitized Stock Portfolio. Participants are permitted to
instruct the Trustee to transfer the funds to another permitted investment at any time. The
employer matching contributions deposited into the participants accounts in the subsequent plan
year consisted of $10,399,039 in cash for 2006 and $8,540,810 in cash for 2005.
Effective September 30, 2004, a Plan-to-Plan Transfer Agreement was executed in order to transfer
all of the outstanding shares of the capital stock in the Community Health Systems, Inc. 401(k)
Plan of National Healthcare of Pocahontas, Inc., Randolph County Clinic Corp., Sabine Medical
Center, Inc. and Sabine Medical Clinic, Inc. into the Associated Healthcare Systems 401(k)
Retirement Plan. This transfer, in the amount of $2,028,614, occurred during the Plan Year ended
December 31, 2005 and is reflected as a conversion in the accompanying statement of changes in net
assets available for benefits.
Participant Accounts. The Retirement Committee utilizes the services of an outside firm to
maintain individual accounts of each participant and record separately all activity as follows:
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The Deferred Account
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The value of participants employee contributions and earnings on
those contributions is maintained in this account. |
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The Rollover Account
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The value of any rollover contributions from another qualified
plan and associated earnings is maintained in this account. |
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The Matching Account
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The value of matching contributions made by the Company on behalf
of participants and associated earnings is maintained in this account. |
Amendments. The First Amendment to the Plan was effective on January 1, 2004 to redefine the
Formula for Determining Employer Contributions, to increase the maximum elective deferral
percentage available under the Plan and to allow catch-up contributions. The Employer may allocate
in its sole discretion and in a non-discriminatory manner a different matching contribution for the
Plan Year to participants at each of its different facilities, as amended from time to time by the
Plan Administrator. The amendment also increased the maximum elective deferral percentage from 15%
to 25%. Also, employees who are eligible to make elective deferrals under the Plan and who have
attained age 50 before
5
the close of the calendar year shall be eligible to make catch-up contributions. To make catch-up
contributions, the employee must contribute the maximum available to the employee through regular
401(k) deductions. The limit for 2006 is $5,000. After 2006, the limit will be indexed for
inflation.
The Second Amendment to the Plan was effective on January 1, 2004 to allow for installment and
other forms of distribution of benefits. The Plan Administrator, pursuant to the election of the
participant, shall direct the Trustee to distribute to a participant or such participants
beneficiary any amount to which the participant is entitled under the Plan in one or more of the
following methods: a) one lump sum cash payment; b) partial cash payments; or c) partial cash
payments over a period certain in monthly, quarterly, semi-annual or annual installments. The
period over which such payment is to be made shall not extend beyond the participants life
expectancy (or the life expectancy of the participant and the participants designated
beneficiary).
The Third Amendment to the Plan, effective January 1, 2004, defines that only Participants who are
actively employed at the beginning of the last day of the Plan Year by the employer or an
affiliated employer whose employees are eligible for a matching contribution under Section 4.1(b)
shall be eligible to share in the Employer Matching Contributions for the year.
The Fourth Amendment to the Plan was effective on March 28, 2005, to incorporate required
provisions under the Economic Growth and Tax Relief Reconciliation Act of 2001. This revision
redefines the section Determination of Benefits upon Termination. If a Terminated Participant
does not specify the designation of a distribution that is in excess of $1,000 to be made to an
eligible retirement plan in a direct rollover or does not elect to receive the distribution
directly, the Administrator shall make a direct transfer of such distribution to an individual
retirement plan designated by the Administrator.
The Fifth Amendment to the Plan, effective January 1, 2006, adds additional criteria for a hardship
withdrawal under the Plan. Permissible events now also include payments for burial or funeral
expenses for deceased parents, spouses, children or other dependents; and expenses for the repair
of damage to a principal residence that would qualify for the casualty deduction under the Internal
Revenue Service Code.
Effective January 1, 2006, only those employees of Watsonville Hospital Corporation who were (i)
employees designated by the administrator as Key Hospital Managers, and (ii) employees who are
highly compensated employees of Watsonville Hospital Corporation and who are not employees whose
employment is governed by a collective bargaining agreement between the Affiliated Employer and
employee representatives (under which retirement benefits were the subject of good-faith
bargaining) were eligible to participate in the Plan.
Vesting. The balance in the participants Deferred and Rollover Accounts is at all times fully
vested and nonforfeitable. A participant becomes 20% vested in the Matching Account after one
year of service and an additional 20% for each year of service thereafter until fully vested. A
participant is credited with one year of service if the participant works 500 or more hours during
the Plan year. Termination of participation in the Plan prior to the scheduled vesting period
results in forfeiture of the unvested portion of a participants Matching Account. These
forfeitures shall be applied to reduce the Companys matching contribution payments made to the
Plan in future periods and are reflected as a liability of the Plan in the accompanying statements
of net assets available for benefits. Forfeitures of $195,799 and $276,715 were applied against
the Companys matching contribution payments for the years ended December 31, 2006 and 2005,
respectively.
Payment of Benefits. A participant or designated beneficiary is entitled to a distribution of the
total value of the participants accounts upon retirement at age 65, becoming totally and
permanently disabled or
6
death. Upon termination of employment before the participants 65th birthday for reasons other
than death, the participant is entitled to receive the total value of the Deferred and Rollover
Accounts and the vested portion of the Matching Account. While employed, participants may borrow
from their accounts in the form of a loan or can withdraw in the event of financial hardship. Such
withdrawals are limited to the value of the Deferred and Rollover Accounts. The Retirement
Committee shall require a participant requesting a hardship withdrawal to submit proof which
demonstrates an immediate and heavy financial need which cannot be reasonably satisfied from other
resources available to the participant. In addition, participants may make certain other
withdrawals while employed in accordance with IRS regulations.
Funding. The Company transfers to the Trustee, as soon as practical, the full matching
contribution after the close of the Plan year.
Investments Options. Contributions to the Plan shall be invested by the Trustee according to the
participants instruction in one or a combination of several fund options. Participants may change
their investment election or initiate transfers between funds by giving notice to the Plan
Administrator.
Plan Termination. Although it has not expressed any intent to do so, the Companys Board of
Directors has the right to discontinue its contributions at any time and to terminate the Plan
subject to the provisions of the Employee Retirement Income Security Act of 1974. In the event of
Plan termination, participants will become 100% vested in their respective accounts.
Participant Notes Receivable. Participants may borrow from their fund accounts a minimum of $1,000
up to a maximum equal to the lesser of $50,000 or 50% of their account balance. Loan transactions
are treated as a transfer to (from) the investment fund from (to) the Participant Loan Fund. Loan
terms range from 1-5 years or up to 15 years for the purchase of a primary residence. The loans
are secured by the balance in the participants account and bear interest at a rate commensurate
with local prevailing rates as determined by the Trustee. Interest rates ranged from 4.0% to 9.5%
as of December 31, 2006. Principal and interest is paid ratably over the term of the loan through
payroll deductions.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting. The Plans financial statements are prepared under the accrual method of
accounting.
Use of Estimates. The preparation of the financial statements in conformity with accounting
principles generally accepted in the United States of America requires management to make estimates
and assumptions that affect the reported amounts of assets available for benefits and changes
therein. Actual results could differ from these estimates. The Plan utilizes various investment
instruments. Investment securities, in general, are exposed to various risks, such as interest
rate, credit, and overall market volatility. Due to the level of risk associated with certain
investment securities, it is reasonably possible that changes in the values of investment
securities will occur in the near term and that such changes could materially affect the amounts
reported in the statements of net assets available for benefits.
Valuation of Investments. The Plans investments are stated at fair value. Securities traded on
the national securities exchange are valued at the last reported sales price on the last business
day of the plan year. Investments traded in the over-the-counter market and listed securities for
which no sale was reported on that date are valued at the average of the last reported bid and
asked prices. The fair values of the participation units owned by the Plan in pooled separate
accounts are based on a redemption value established by the Trustee. The Plans investments in
pooled separate accounts consist of investments in accounts established by the Trustee solely for
the purpose of investing the assets of one or more plans. Investments in collective investment
funds or regulated investment companies are valued at the net asset
7
value per share/unit on the valuation date. Short-term investments, if any, are stated at amortized
cost, which approximates market value. Participant loans are valued at their outstanding balance,
which approximates fair value.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded
on an accrual basis. Dividends are recorded on the ex-dividend date.
Expenses. The participants of all funds are charged with expenses in connection with the purchase
and sale of shares in each respective fund. Also, the participants in the Plan are charged a
per-participant administrative fee. Participants paid $400,115 and $432,939 in administrative costs
to the Trustee in 2006 and 2005, respectively. All other expenses incurred in the administration
of the Plan are borne by the Company. The Company paid $67,073 and $44,513 for Plan expenses in
2006 and 2005, respectively.
Payment of Benefits. Benefits are recorded when paid.
Recent Accounting Pronouncement. The financial statements reflect the retroactive adoption of
Financial Accounting Standards Board Staff Position, FSP AAG INV-1 and SOP 94-4-1, Reporting of
Fully Benefit-Responsive Contracts Held by Certain Investment Companies Subject to the AICPA
Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (the FSP),
which became effective for annual periods ending after December 15, 2006. The Plans investment in
the Scudder Stable Value Fund contains contracts which are fully benefit-responsive, to which this
FSP is applicable. As required by the FSP, the statements of net assets available for benefits
present investment contracts at fair value as well as an additional line item showing an adjustment
for fully benefit-responsive contracts from fair value to contract value. The statement of changes
in net assets available for benefits is presented on a contract value basis and was not affected by
the adoption of the FSP.
3. TAX STATUS
The Plan received a determination letter dated June 16, 2004, in which the IRS stated that the Plan
was in compliance with the applicable requirements of Section 401(a) and Section 501(c) of the
Internal Revenue Code (the Code). The Plan has been amended since receiving the determination
letter. However, the Plan Administrator and the Plans tax counsel believe that the Plan is
designed and is currently being operated in compliance with the applicable requirements of the
Code.
8
4. INVESTMENTS
Investments that represent five percent or more of the net assets available for benefits as of
December 31, 2006 and 2005 are as follows:
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Investment |
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Fair Value |
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at December 31, 2006: |
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CHS Unitized Stock Portfolio |
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$ |
36,062,946 |
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Scudder Stable Value Fund |
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31,142,512 |
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The Growth Fund of America A |
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27,653,000 |
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Scudder Stock Index Trust |
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24,670,131 |
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Scudder Flag Investment Value Builder A |
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24,212,750 |
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Scudder Large Cap Value Fund A |
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21,062,574 |
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Scudder Dreman Hi Return Equity Fund A |
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18,180,202 |
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Templeton Foreign Fund A |
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16,668,157 |
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Scudder Fixed Income Fund A |
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16,239,090 |
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at December 31, 2005: |
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CHS Unitized Stock Portfolio |
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$ |
32,752,325 |
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Scudder Stable Value Fund |
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27,604,306 |
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Scudder Flag Investment Value Builder A |
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21,633,672 |
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The Growth Fund of America A |
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20,886,838 |
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Scudder Stock Index Trust |
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20,547,133 |
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Scudder Large Cap Value Fund A |
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17,284,966 |
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Scudder Fixed Income Fund A |
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14,374,566 |
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Scudder Dreman Hi Return Equity Fund A |
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12,898,487 |
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Templeton Foreign Fund A |
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12,249,434 |
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Franklin Small-Mid Cap Growth A |
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10,925,893 |
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The following schedule presents the net appreciation (depreciation) in fair value for each
significant class of investment for the years ended December 31, 2006 and 2005:
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|
|
|
|
2006 |
|
|
2005 |
|
Mutual funds |
|
$ |
8,067,107 |
|
|
$ |
3,733,340 |
|
Common/collective trust
funds(1) |
|
|
3,262,937 |
|
|
|
907,341 |
|
CHS Unitized
Stock Portfolio |
|
|
(1,645,091 |
) |
|
|
7,468,493 |
|
|
|
|
|
|
|
|
|
|
$ |
9,684,953 |
|
|
$ |
12,109,174 |
|
|
|
|
|
|
|
|
|
|
|
(1) |
|
Includes pooled separate accounts and collective investment funds. |
9
COMMUNITY HEALTH SYSTEMS, INC. 401(k) PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i -
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2006
|
|
|
|
|
|
|
|
|
|
|
Identity of Issue, Borrower, |
|
Description of Investment Including Maturity Date, |
|
Current |
|
|
Lessor or Similar Party |
|
Rate of Interest, Collateral, Par or Maturity Value |
|
Value |
*
|
|
Scudder Investments
|
|
Scudder Stable Value Fund
|
|
$ |
31,142,512 |
|
*
|
|
Scudder Investments
|
|
Scudder Fixed Income Fund A
|
|
|
16,239,090 |
|
*
|
|
Scudder Investments
|
|
Scudder Flag Investment Value Builder A
|
|
|
24,212,750 |
|
*
|
|
Scudder Investments
|
|
Scudder Stock Index Trust
|
|
|
24,670,131 |
|
*
|
|
Scudder Investments
|
|
Scudder-Dreman Hi Return Equity Fund A
|
|
|
18,180,202 |
|
*
|
|
Scudder Investments
|
|
Scudder Global Discovery Fund A
|
|
|
11,068,438 |
|
*
|
|
Scudder Investments
|
|
Scudder Large Cap Value Fund A
|
|
|
21,062,574 |
|
*
|
|
Scudder Investments
|
|
Scudder Mid Cap Growth Fund A
|
|
|
10,180,609 |
|
*
|
|
Scudder Investments
|
|
Scudder Pathway Conservative Portofolio A
|
|
|
4,722,871 |
|
*
|
|
Scudder Investments
|
|
Scudder Pathway Growth Portofolio A
|
|
|
6,866,097 |
|
*
|
|
Scudder Investments
|
|
Scudder Pathway Moderate Portofolio A
|
|
|
10,893,510 |
|
|
|
Franklin Advisers,
Inc.
|
|
Franklin Small-Mid
Cap Growth Fund A
|
|
|
13,016,587 |
|
|
|
Templeton Global Advisors Limited
|
|
Templeton Growth Fund, Inc. A
|
|
|
3,753,237 |
|
|
|
Templeton Global Advisors Limited
|
|
Templeton Foreign
Fund A
|
|
|
16,668,157 |
|
|
|
Capital Research
and Management
Company
|
|
Amer Funds The
Growth Fund of
America A
|
|
|
27,653,000 |
|
|
|
Credit Suisse Asset Mgt, LLC
|
|
Credit Suisse Small
Cap Value Fund A
|
|
|
5,317,668 |
|
|
|
Goldman Sachs
|
|
Goldman Sachs Mid
Cap Value Fund A
|
|
|
6,042,994 |
|
*
|
|
Community Health
Systems, Inc. (CHS)
|
|
CHS Unitized Stock Portfolio
|
|
|
36,062,946 |
|
*
|
|
Various Participants
|
|
Participant notes
receivable with
interest rates
ranging from 4.0%
to 9.5% and
maturities ranging
from January 1,
2007 to December
23, 2011.
|
|
|
7,107,791 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
294,861,164 |
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
|
Identified party-in-interest |
10
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other
persons who administer the employee benefit plan) have duly caused this annual report to be signed
on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
|
COMMUNITY HEALTH SYSTEMS, INC. 401(k) PLAN
|
|
Date: June 28, 2007 |
By: |
/s/ Wayne T. Smith
|
|
|
|
Wayne T. Smith |
|
|
|
Chairman of the Board
President and Chief Executive Officer |
|
|
|
|
|
|
|
|
|
|
Date: June 28, 2007 |
By: |
/s/ W. Larry Cash
|
|
|
|
W. Larry Cash |
|
|
|
Executive Vice President,
Chief Financial Officer and Director |
|
|
|
|
|
|
|
|
|
|
Date: June 28, 2007 |
By: |
/s/ T. Mark Buford
|
|
|
|
T. Mark Buford |
|
|
|
Vice President and
Corporate Controller |
|
11
EXHIBIT INDEX
|
|
|
|
|
Exhibit |
|
|
Number |
|
Description |
|
10.1 |
|
|
Fifth Amendment to the Community Health Systems, Inc. 401(K) Plan dated December 22, 2006. |
|
|
|
|
|
|
23 |
|
|
Consent of Independent Registered Public Accounting Firm |
12
Ex-10.1
EXHIBIT 10.1
FIFTH AMENDMENT TO THE
CHS/COMMUNITY
HEALTH SYSTEMS, INC. 401(k) PLAN
WHEREAS,
CHS/Community Health Systems, Inc. (the Company) has previously established and
currently maintains the Community Health Systems, Inc. 401(k) Plan
(the Plan); and
WHEREAS, the Company has retained the right to amend the Plan in Section 8.1 of the Plan; and
WHEREAS, the Company wishes to amend the Plan to incorporate changes made under the final
regulations under Internal Revenue Code 401(k) and Section 401(m), effective as of January 1, 2006;
and
WHEREAS, the Board of Directors has approved of such amendment to the Plan.
NOW, THEREFORE, BE IT RESOLVED, that the Plan shall be amended as set forth in the attached
Exhibit A, effective as of January 1, 2006.
SIGNED this 22nd day of December, 2006, effective as of January 1, 2006.
|
|
|
|
|
|
CHS/COMMUNITY HEALTH SYSTEMS, INC.
|
|
|
By: |
/s/
Linda Parsons
|
|
Ex-23
EXHIBIT 23
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in Registration Statement No. 333-121283, 333-107810,
333-100349, 333-61614, 333-44870 on Form S-8 of our report dated June 28, 2007 appearing in this
Annual Report on Form 11-K of Community Health Systems, Inc. 401(k) Plan for the year ended
December 31, 2006.
/s/ Deloitte & Touche LLP
Nashville, Tennessee
June 28, 2007