Contingent Liabilities Handout

Contingent Liabilities Handout - quarter last year, and net...

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Contingent Liabilities Kindred Healthcare, Inc. provides long-term healthcare services primarily through the operation of nursing centers and hospitals. It operates 288 nursing centers, with 37,627 licensed beds in 32 states and a rehabilitation therapy business. The following new release appeared in February 2002. KINDRED HEALTHCARE ANNOUNCES FISCAL 2001 RESULTS Company Provides Operating Guidance for Fiscal 2002 LOUISVILLE, Ky. (February 5, 2002) – Kindred Healthcare, Inc. (the “Company”) (NASDAQ: KIND) today announced its operating results for the fourth quarter and fiscal year ended December 31, 2001. Revenues for the fourth quarter of 2001 grew 6% to $790 million compared to $742 million in the fourth
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Unformatted text preview: quarter last year, and net income from operations for the current quarter totaled $16.1 million of $0.83 per diluted share. Operating results for the fourth quarter of 2001 included an unusual pretax gain of $2.2 million ($1.3 million net of tax or $0.07 per diluted share) recorded in connection with the resolution of a loss contingency related to a partnership interest. Questions: 1. How might Kindred have recorded a gain in connection with the resolution of a loss contingency. 2. Template the journal entries....
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This note was uploaded on 03/16/2010 for the course BUSACC 1205 taught by Professor Boyas during the Spring '10 term at Pittsburgh.

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