Express Scripts 2012 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 of the 2012 Express Scripts annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

Express Scripts 2012 Annual Report54
EXPRESS SCRIPTS HOLDING COMPANY
CONSOLIDATED STATEMENT OF OPERATIONS
Year Ended December 31,
(in millions, except per share data)
2012
2011
2010
Revenues(1)
$ 93,858.1
$ 46,128.3
$ 44,973.2
Cost of revenues(1)
86,527.9
42,918.4
42,015.0
Gross profit
7,330.2
3,209.9
2,958.2
Selling, general and administrative
4,545.7
895.5
887.3
Operating income
2,784.5
2,314.4
2,070.9
Other (expense) income:
Equity income from joint venture
14.9
-
-
Interest income
10.6
12.4
4.9
Interest expense and other
(619.0)
(299.7)
(167.1)
(593.5)
(287.3)
(162.2)
Income before income taxes
2,191.0
2,027.1
1,908.7
Provision for income taxes
833.3
748.6
704.1
Net income from continuing operations
1,357.7
1,278.5
1,204.6
Net loss from discontinued operations, net of tax
(27.6)
-
(23.4)
Net income
1,330.1
1,278.5
1,181.2
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
Weighted-average number of common shares
outstanding during the period:
Basic
731.3
500.9
538.5
Diluted
747.3
505.0
544.0
Basic earnings (loss) per share:
Continuing operations attributable to Express Scripts
$ 1.83
$ 2.55
$ 2.24
Discontinued operations attributable to Express Scripts
(0.04)
-
(0.04)
Net earnings attributable to Express Scripts
1.80
2.55
2.19
Diluted earnings (loss) per share:
Continuing operations attributable to Express Scripts
$ 1.79
$ 2.53
$ 2.21
Discontinued operations attributable to Express Scripts
(0.04)
-
(0.04)
Net earnings attributable to Express Scripts
1.76
2.53
2.17
Amounts attributable to Express Scripts shareholders:
Income from continuing operations, net of tax
$ 1,340.5
$ 1,275.8
$ 1,204.6
Discontinued operations, net of tax
(27.6)
-
(23.4)
Net income attributable to Express Scripts shareholders
$ 1,312.9
$ 1,275.8
$ 1,181.2
(1) Includes retail pharmacy co-payments of $11,668.6, $5,786.6 and $6,181.4 for the years ended December 31, 2012, 2011 and 2010,
respectively.
See accompanying Notes to Consolidated Financial Statements