Express Scripts 2011 Annual Report Download - page 88

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Express Scripts 2011 Annual Report
86
14. Condensed consolidating financial information
Our senior notes are jointly and severally and fully and unconditionally (subject to certain customary
release provisions, including sale, exchange, transfer or liquidation of the guarantor subsidiary) guaranteed by our
100% owned domestic subsidiaries, other than certain regulated subsidiaries including Express Scripts Insurance
Company. The following condensed consolidating financial information has been prepared in accordance with the
requirements for presentation of such information. The statement of comprehensive income has been excluded from
this presentation because all components of other comprehensive income relate to the operations of non-guarantor
subsidiaries and are immaterial to the condensed consolidating financial statements as a whole. Effective September
17, 2010, PMG was sold. The assets, liabilities, and operations of PMG are included as discontinued operations in
those of the non-guarantors for all periods presented. Subsequent to the acquisition of NextRx on December 1, 2009,
certain of the assets, liabilities and operations of the 100% owned domestic subsidiaries have been included in those
of the guarantors. Certain amounts from prior periods have been reclassified to conform to current period
presentation. The following presents the condensed consolidating financial information separately for:
(i) Express Scripts, Inc. (the Parent Company), the issuer of certain guaranteed obligations (the Parent
Company also guarantees the obligations of Aristotle);
(ii) Aristotle Holding, Inc., incorporated in 2011 and the issuer of additional guaranteed obligations;
(iii) Guarantor subsidiaries, on a combined basis, as specified in the indentures related to Express Scripts’ and
Aristotle’s obligations under the notes;
(iv) Non-guarantor subsidiaries, on a combined basis;
(v) Consolidating entries and eliminations representing adjustments to (a) eliminate intercompany transactions
between or among the Parent Company, the guarantor subsidiaries and the non-guarantor subsidiaries, (b)
eliminate the investments in our subsidiaries and (c) record consolidating entries; and
(vi) Express Scripts, Inc and subsidiaries on a consolidated basis.