Express Scripts 2012 Annual Report Download - page 102

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Express Scripts 2012 Annual Report100
Condensed Consolidating Statement of Operations
(in millions)
Express
Scripts
Holding
Company
Express
Scripts, Inc.
Medco
Health
Solutions,
Inc.
Guarantors
Non-
Guarantors
Eliminations
Consolidated
For the year ended December 31, 2012
Revenues
$
-
$
29,763.1
$
43,085.7
$
22,151.6
$
1,329.8
$
(2,472.1)
$
93,858.1
Operating expenses
-
28,591.8
43,090.3
20,726.9
1,136.7
(2,472.1)
91,073.6
Operating income
-
1,171.3
(4.6)
1,424.7
193.1
-
2,784.5
Other (expense) income, net
(373.7)
(180.1)
(49.4)
(2.2)
11.9
-
(593.5)
Income (loss) before income
taxes
(373.7)
991.2
(54.0)
1,422.5
205.0
-
2,191.0
Provision for income taxes
(142.1)
449.6
(20.4)
546.1
0.1
-
833.3
Net income (loss) from
continuing operations
(231.6)
541.6
(33.6)
876.4
204.9
-
1,357.7
Net income (loss) from
discontinued operations, net
of tax
-
-
-
2.8
(30.4)
-
(27.6)
Equity in earnings of
subsidiaries
1,544.5
740.0
296.5
-
-
(2,581.0)
-
Net income (loss)
$
1,312.9
$
1,281.6
$
262.9
$
879.2
$
174.5
$
(2,581.0)
$
1,330.1
Less: Net income attributable to
non-controlling interest
-
-
-
-
17.2
-
17.2
Net income (loss) attributable
to Express Scripts
1,312.9
1,281.6
262.9
879.2
157.3
(2,581.0)
1,312.9
Other comprehensive income,
net of tax
1.9
1.9
-
-
1.9
(3.8)
1.9
Comprehensive income (loss)
attributable to Express
Scripts
$
1,314.8
$
1,283.5
$
262.9
$
879.2
$
159.2
$
(2,584.8)
$
1,314.8
For the year ended December 31, 2011
Revenues
$
-
$
29,450.9
$
-
$
16,520.3
$
157.1
$
-
$
46,128.3
Operating expenses
-
27,847.9
-
15,841.3
124.7
-
43,813.9
Operating income
-
1,603.0
-
679.0
32.4
-
2,314.4
Interest (expense) income, net
(22.2)
(259.8)
-
(5.9)
0.6
-
(287.3)
Income before income taxes
(22.2)
1,343.2
-
673.1
33.0
-
2,027.1
Provision for income taxes
(8.1)
487.9
-
263.8
5.0
-
748.6
Net income from continuing
operations
(14.1)
855.3
-
409.3
28.0
-
1,278.5
Equity in earnings of
subsidiaries
1,289.9
434.6
-
-
-
(1,724.5)
-
Net income (loss)
$
1,275.8
$
1,289.9
$
-
$
409.3
$
28.0
$
(1,724.5)
$
1,278.5
Less: Net income attributable to
non-controlling interest
-
-
-
-
2.7
-
2.7
Net income (loss) attributable
to Express Scripts
1,275.8
1,289.9
-
409.3
25.3
(1,724.5)
1,275.8
Other comprehensive loss, net of
tax
(2.8)
(2.8)
-
-
(2.8)
5.6
(2.8)
Comprehensive income (loss)
attributable to Express
Scripts
$
1,273.0
$
1,287.1
$
-
$
409.3
$
22.5
$
(1,718.9)
$
1,273.0