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Express Scripts 2011 Annual Report
56
EXPRESS SCRIPTS, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
Year Ended December 31,
(in millions, except per share data)
2011
2010
2009
Revenues 1
$ 46,128.3
$ 44,973.2
$ 24,722.3
Cost of revenues 1
42,918.4
42,015.0
22,298.3
Gross profit
3,209.9
2,958.2
2,424.0
Selling, general and administrative
898.2
887.3
926.5
Operating income
2,311.7
2,070.9
1,497.5
Other (expense) income:
Interest income
12.4
4.9
5.3
Interest expense and other
(299.7)
(167.1)
(194.4)
(287.3)
(162.2)
(189.1)
Income before income taxes
2,024.4
1,908.7
1,308.4
Provision for income taxes
748.6
704.1
481.8
Net income from continuing operations
1,275.8
1,204.6
826.6
Net (loss) income from discontinued operations, net of tax
-
(23.4)
1.0
Net income
$ 1,275.8
$ 1,181.2
$ 827.6
Weighted average number of common shares
outstanding during the period:
Basic:
500.9
538.5
527.0
Diluted:
505.0
544.0
532.2
Basic earnings (loss) per share:
Continuing operations
$ 2.55
$ 2.24
$ 1.57
Discontinued operations
-
(0.04)
-
Net earnings
2.55
2.19
1.57
Diluted earnings (loss) per share:
Continuing operations
$ 2.53
$ 2.21
$ 1.55
Discontinued operations
-
(0.04)
-
Net earnings
2.53
2.17
1.56
1 Includes retail pharmacy co-payments of $5,786.6, $6,181.4, and $3,132.1 for the years ended December 31, 2011, 2010, and 2009,
respectively.
See accompanying Notes to Consolidated Financial Statements