Express Scripts 2013 Annual Report Download - page 37

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37 Express Scripts 2013 Annual Report
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 have been adjusted for the discontinued operations of
our acute infusion therapies line of business. Discontinued operations as of December 31, 2012 also include portions of our
United BioSource LLC (“UBC”) line of business, Europa Apotheek Venlo B.V. (“EAV”) and our European operations.
Discontinued operations as of December 31, 2010 and 2009 include Phoenix Marketing Group (“PMG”).
(in millions, except per share data) 2013 2012(1) 2011 2010 2009(2)
Statement of Operations Data (for the Year Ended December 31):
Revenues(3) $ 104,098.8 $ 93,714.3 $ 46,128.3 $ 44,973.2 $ 24,722.3
Cost of revenues(3) 95,966.4 86,402.4 42,918.4 42,015.0 22,298.3
Gross profit 8,132.4 7,311.9 3,209.9 2,958.2 2,424.0
Selling, general and administrative 4,580.7 4,518.0 895.5 887.3 926.5
Operating income 3,551.7 2,793.9 2,314.4 2,070.9 1,497.5
Other expense, net (521.4)(593.5)(287.3)(162.2)(189.1)
Income before income taxes 3,030.3 2,200.4 2,027.1 1,908.7 1,308.4
Provision for income taxes 1,104.0 838.0 748.6 704.1 481.8
Net income from continuing operations 1,926.3 1,362.4 1,278.5 1,204.6 826.6
Net (loss) income from discontinued operations, net of
tax(4) (53.6)(32.3)—
(23.4) 1.0
Net income 1,872.7 1,330.1 1,278.5 1,181.2 827.6
Less: Net income attributable to non-controlling interest 28.1 17.2 2.7 — —
Net income attributable to Express Scripts $ 1,844.6 $ 1,312.9 $ 1,275.8 $ 1,181.2 $ 827.6
Weighted-average shares outstanding:(5)
Basic: 808.6 731.3 500.9 538.5 527.0
Diluted: 821.6 747.3 505.0 544.0 532.2
Basic earnings (loss) per share:(5)
Continuing operations attributable to Express Scripts $ 2.35 $ 1.84 $ 2.55 $ 2.24 $ 1.57
Discontinued operations attributable to Express
Scripts(4) (0.07)(0.04)—
(0.04)—
Net earnings attributable to Express Scripts 2.28 1.80 2.55 2.19 1.57
Diluted earnings (loss) per share:(5)
Continuing operations attributable to Express Scripts $ 2.31 $ 1.80 $ 2.53 $ 2.21 $ 1.55
Discontinued operations attributable to Express
Scripts(4) (0.07)(0.04)—
(0.04)—
Net earnings attributable to Express Scripts 2.25 1.76 2.53 2.17 1.56
Amounts attributable to Express Scripts shareholders:
Income from continuing operations, net of tax $ 1,898.2 $ 1,345.2 $ 1,275.8 $ 1,204.6 $ 826.6
Discontinued operations, net of tax (53.6)(32.3)—
(23.4) 1.0
Net income attributable to Express Scripts
shareholders $ 1,844.6 $ 1,312.9 $ 1,275.8 $ 1,181.2 $ 827.6