A $39.2 million loss on interest-rate swap agreements was one of the major factors leading to Cincinnati-based Mercy Health's profit falling to $130.1 million in fiscal 2014, down from $343.3 million the year prior.
The system's loss attributable to its foundation also grew in FY 2014, increasing to $9.9 million from $7.8 million in fiscal 2013.
However, Mercy's operating results struck a more positive note in fiscal 2014. The system posted a $131.4 million operating surplus on $4.5 billion in revenue, compared with a $127.3 million surplus on $3.9 billion in revenue in FY 2013.
The system's patient service revenue increased to $4.1 billion in FY 2014, up from $3.9 billion the preceding year.
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