Intermountain posts $137M operating income, 0.9% margin

Salt Lake City-based Intermountain Health posted an operating income of $137 million (0.9% margin) in 2023, improving slightly on the $121 million gain (0.9% margin) reported the previous year. 

Revenue increased 15.2% year over year to $16.1 billion while expenses grew by 15.5% to $15.2 billion, according to financial documents published March 20. Depreciation and amortization interest was $718 million in 2023, up from $653 million in 2022. 

Labor costs increased 15.8% year over year to $6.9 billion and supply expenses increased 17.5% to $2.9 billion. 

After accounting for nonoperating items, such as investment income, Intermountain reported a net profit of $1.6 billion in 2023, compared to $2.6 billion the prior year. 

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