Express Scripts 2009 Annual Report Download - page 45

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Express Scripts 2009 Annual Report
Item 6 – Selected Financial Data
The following selected financial data should be read in conjunction with our consolidated financial statements,
including the related notes, and “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of
Operations”.
(in millions, except per share data)
2009(1)
2008(2)
2007(3)
2006
2005(4)
Statement of Operations Data (for the Year Ended December 31):
Revenues (5)
$ 24,748.9
$ 21,978.0
$ 21,824.0
$ 21,562.6
$ 21,879.1
Cost of revenues(5)
22,318.5
19,937.1
20,065.2
20,093.7
20,693.3
Gross profit
2,430.4
2,040.9
1,758.8
1,468.9
1,185.8
Selling, general and administrative
932.0
760.4
698.0
643.1
543.5
Operating income
1,498.4
1,280.5
1,060.8
825.8
642.3
Other expense, net
(189.1)
(66.9)
(116.1)
(83.6)
(28.4)
Income before income taxes
1,309.3
1,213.6
944.7
742.2
613.9
Provision for income taxes
482.8
434.0
344.2
266.8
214.3
Net income from continuing operations
826.5
779.6
600.5
475.4
399.6
Net (loss) income from discontinued
operations, net of tax(6)
1.1
(3.5)
(32.7)
(1.0)
0.5
Net income
$ 827.6
$ 776.1
$ 567.8
$ 474.4
$ 400.1
Weighted average shares outstanding:(7)
Basic:
263.5
248.9
260.4
279.6
293.6
Diluted:
266.1
251.8
264.0
284.0
299.0
Basic earnings (loss) per share:(7)
Continuing operations
$ 3.14
$ 3.13
$ 2.31
$ 1.70
$ 1.36
Discontinued operations(6)
-
(0.01)
(0.13)
-
-
Net earnings
3.14
3.12
2.18
1.70
1.36
Diluted earnings (loss) per share:(7)
Continuing operations
$ 3.11
$ 3.10
$ 2.27
$ 1.67
$ 1.34
Discontinued operations(6)
-
(0.01)
(0.12)
-
-
Net earnings
3.11
3.08
2.15
1.67
1.34
Balance Sheet Data (as of December 31):
Cash and cash equivalents
$ 1,070.4
$ 530.7
$ 434.7
$ 131.0
$ 477.9
Working capital
(1,313.3)
(677.9)
(507.2)
(657.3)
(137.8)
Total assets
11,931.2
5,509.2
5,256.4
5,108.1
5,493.5
Debt:
Short-term debt
1,340.1
420.0
260.1
180.1
110.0
Long-term debt
2,492.5
1,340.3
1,760.3
1,270.4
1,400.5
Stockholders’ equity
3,551.8
1,078.2
696.4
1,124.9
1,464.8
Network pharmacy claims processed(8)
404.3
379.6
379.9
390.3
437.3
Home delivery and specialty pharmacy
prescriptions filled
41.8
41.9
41.9
42.2
41.0
Other prescriptions filled(9)
3.2
3.2
3.6
4.7
4.6
Cash flows provided by operating activities—
continuing operations
$ 1,757.6
$ 1,095.6
$ 848.1
$ 673.5
$ 795.8
Cash flows used in investing activities—
continuing operations
(4,822.4)
(320.6)
(55.8)
(100.8)
(1,367.5)
Cash flows provided by (used in)
financing activities—continuing operations
3,587.0
(680.4)
(469.7)
(904.7)
887.0
EBITDA from continuing operations(10)
1,608.3
1,378.2
1,158.3
925.6
726.6
(1) Includes the acquisition of NextRx effective December 1, 2009.
(2) Includes the acquisition of MSC effective July 22, 2008.
(3) Includes the acquisition of CYC effective October 10, 2007.
(4) Includes the acquisition of Priority Healthcare Corporation, Inc. (“Priority”) effective October 14, 2005.
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