Express Scripts 2012 Annual Report Download - page 36

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Express Scripts 2012 Annual Report34
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 “Part II — Item 7 — Management’s Discussion and Analysis of Financial Condition and
Results of Operations.” Results for the year ended December 31, 2012 reflect the discontinued operations of Europa
Apotheek Venlo B.V. (“EAV”), United BioSource Corporation (“UBC”) and our operations in Europe. Results for the
years ended December 31, 2009 and 2008 have been adjusted for the discontinued operations of Phoenix Marketing Group
(“PMG”).
(in millions, except per share data)
2012
(1)
2011
2010
2009
(2)
2008
(3)
Statement of Operations Data (for the Year Ended December 31):
Revenues(4)
$ 93,858.1
$46,128.3
$ 44,973.2
$ 24,722.3
$ 21,941.2
Cost of revenues(4)
86,527.9
42,918.4
42,015.0
22,298.3
19,910.6
Gross profit
7,330.2
3,209.9
2,958.2
2,424.0
2,030.6
Selling, general and administrative
4,545.7
895.5
887.3
926.5
756.3
Operating income
2,784.5
2,314.4
2,070.9
1,497.5
1,274.3
Other expense, net
(593.5)
(287.3)
(162.2)
(189.1)
(66.9)
Income before income taxes
2,191.0
2,027.1
1,908.7
1,308.4
1,207.4
Provision for income taxes
833.3
748.6
704.1
481.8
431.5
Net income from continuing operations
1,357.7
1,278.5
1,204.6
826.6
775.9
Net (loss) income from discontinued
operations, net of tax(5)
(27.6)
-
(23.4)
1.0
0.2
Net income
1,330.1
1,278.5
1,181.2
827.6
776.1
Less: Net income attributable to
non-controlling interest
17.2
2.7
-
-
-
Net income attributable to Express Scripts
$ 1,312.9
$ 1,275.8
$ 1,181.2
$ 827.6
$ 776.1
Weighted-average shares outstanding:(6)
Basic:
731.3
500.9
538.5
527.0
497.8
Diluted:
747.3
505.0
544.0
532.2
503.6
Basic earnings (loss) per share:(6)
Continuing operations attributable to Express Scripts
$ 1.83
$ 2.55
$ 2.24
$ 1.57
$ 1.56
Discontinued operations attributable to Express Scripts(5)
(0.04)
-
(0.04)
-
-
Net earnings attributable to Express Scripts
1.80
2.55
2.19
1.57
1.56
Diluted earnings (loss) per share:(6)
Continuing operations attributable to Express Scripts
$ 1.79
$ 2.53
$ 2.21
$ 1.55
$ 1.54
Discontinued operations attributable to Express Scripts(5)
(0.04)
-
(0.04)
-
-
Net earnings attributable to Express Scripts
1.76
2.53
2.17
1.56
1.54
Amounts attributable to Express Scripts shareholders:
Income from continuing operations, net of tax
$ 1,340.5
$ 1,275.8
$ 1,204.6
$ 826.6
$ 775.9
Discontinued operations, net of tax
(27.6)
-
(23.4)
1.0
0.2
Net income attributable to Express Scripts shareholders
$ 1,312.9
$ 1,275.8
$ 1,181.2
$ 827.6
$ 776.1
Balance Sheet Data (as of December 31):
Cash and cash equivalents
$ 2,793.9
$ 5,620.1
$ 523.7
$ 1,070.4
$ 530.7
Working (deficit) capital
(2,300.5)
2,599.9
(975.9)
(1,313.3)
(677.9)
Total assets
58,111.2
15,607.0
10,557.8
11,931.2
5,509.2
Debt:
Short-term debt
934.9
999.9
0.1
1,340.1
420.0
Long-term debt
14,980.1
7,076.4
2,493.7
2,492.5
1,340.3
Stockholders’ equity
23,395.7
2,475.3
3,606.6
3,551.8
1,078.2
Network pharmacy claims processed(7)(8)
1,020.7
600.4
602.0
404.3
379.6
Home delivery, specialty pharmacy, and other prescriptions
filled
(7)(9)
129.1
53.4
54.1
45.0
45.1
Total claims(7)
1,149.8
653.8
656.1
449.3
424.7
Total adjusted claims(7)(10)
1,395.7
751.5
753.9
530.6
506.3