Express Scripts 2013 Annual Report Download - page 105

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105 Express Scripts 2013 Annual Report
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, 2013
Revenues $ — $ 29,927.9 $ 52,736.8 $ 23,273.8 $ 1,517.7 $ (3,357.4) $ 104,098.8
Operating expenses — 28,380.5 52,498.3 21,988.0 1,037.7 (3,357.4) 100,547.1
Operating income — 1,547.4 238.5 1,285.8 480.0 — 3,551.7
Other (expense) income, net (343.9) (148.8) (23.5) 5.4 (10.6) — (521.4)
Income (loss) before income taxes (343.9) 1,398.6 215.0 1,291.2 469.4 — 3,030.3
Provision (benefit) for income taxes (124.8) 533.0 93.3 470.6 131.9 — 1,104.0
Net income (loss) from continuing
operations (219.1) 865.6 121.7 820.6 337.5 — 1,926.3
Net loss from discontinued
operations, net of tax ————(53.6) — (53.6)
Equity in earnings of subsidiaries 2,063.7 803.5 272.9 — — (3,140.1) —
Net income $ 1,844.6 $ 1,669.1 $ 394.6 $ 820.6 $ 283.9 $ (3,140.1) $ 1,872.7
Less: Net income attributable to non-
controlling interest ————28.1 — 28.1
Net income attributable to Express
Scripts 1,844.6 1,669.1 394.6 820.6 255.8 (3,140.1) 1,844.6
Other comprehensive loss, net of tax (7.2) (7.2) — — (7.2) 14.4 (7.2)
Comprehensive income attributable
to Express Scripts $ 1,837.4 $ 1,661.9 $ 394.6 $ 820.6 $ 248.6 $ (3,125.7) $ 1,837.4
For the year ended December 31, 2012
Revenues $ — $ 29,763.1 $ 43,085.7 $ 22,007.8 $ 1,329.8 $ (2,472.1) $ 93,714.3
Operating expenses — 28,591.8 43,090.3 20,573.7 1,136.7 (2,472.1) 90,920.4
Operating income — 1,171.3 (4.6) 1,434.1 193.1 — 2,793.9
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) 1,431.9 205.0 — 2,200.4
Provision (benefit) for income taxes (142.1) 449.6 (20.4) 550.8 0.1 — 838.0
Net income (loss) from continuing
operations (231.6) 541.6 (33.6) 881.1 204.9 — 1,362.4
Net loss from discontinued
operations, net of tax ————(32.3) — (32.3)
Equity in earnings of subsidiaries 1,544.5 740.0 296.5 — — (2,581.0) —
Net income $ 1,312.9 $ 1,281.6 $ 262.9 $ 881.1 $ 172.6 $ (2,581.0) $ 1,330.1
Less: Net income attributable to non-
controlling interest ————17.2 — 17.2
Net income attributable to Express
Scripts 1,312.9 1,281.6 262.9 881.1 155.4 (2,581.0) 1,312.9
Other comprehensive income, net of tax 1.9 1.9 — — 1.9 (3.8) 1.9
Comprehensive income attributable
to Express Scripts $ 1,314.8 $ 1,283.5 $ 262.9 $ 881.1 $ 157.3 $ (2,584.8) $ 1,314.8