Express Scripts 2013 Annual Report Download - page 59

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59 Express Scripts 2013 Annual Report
EXPRESS SCRIPTS HOLDING COMPANY
CONSOLIDATED STATEMENT OF OPERATIONS
Year Ended December 31,
(in millions, except per share data) 2013 2012 2011
Revenues(1) $ 104,098.8 $ 93,714.3 $ 46,128.3
Cost of revenues(1) 95,966.4 86,402.4 42,918.4
Gross profit 8,132.4 7,311.9 3,209.9
Selling, general and administrative 4,580.7 4,518.0 895.5
Operating income 3,551.7 2,793.9 2,314.4
Other (expense) income:
Equity income from joint venture 32.8 14.9 —
Interest income 41.9 10.6 12.4
Interest expense and other (596.1)(619.0)(299.7)
(521.4)(593.5)(287.3)
Income before income taxes 3,030.3 2,200.4 2,027.1
Provision for income taxes 1,104.0 838.0 748.6
Net income from continuing operations 1,926.3 1,362.4 1,278.5
Net loss from discontinued operations, net of tax (53.6)(32.3)—
Net income 1,872.7 1,330.1 1,278.5
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
Weighted-average number of common shares outstanding during the
period:
Basic 808.6 731.3 500.9
Diluted 821.6 747.3 505.0
Basic earnings (loss) per share:
Continuing operations attributable to Express Scripts $ 2.35 $ 1.84 $ 2.55
Discontinued operations attributable to Express Scripts (0.07)(0.04)—
Net earnings attributable to Express Scripts 2.28 1.80 2.55
Diluted earnings (loss) per share:
Continuing operations attributable to Express Scripts $ 2.31 $ 1.80 $ 2.53
Discontinued operations attributable to Express Scripts (0.07)(0.04)—
Net earnings attributable to Express Scripts 2.25 1.76 2.53
Amounts attributable to Express Scripts shareholders:
Income from continuing operations, net of tax $ 1,898.2 $ 1,345.2 $ 1,275.8
Discontinued operations, net of tax (53.6)(32.3)—
Net income attributable to Express Scripts shareholders $ 1,844.6 $ 1,312.9 $ 1,275.8
(1) Includes retail pharmacy co-payments of $12,620.3, $11,668.6 and $5,786.6 for the years ended December 31, 2013,
2012 and 2011, respectively.
See accompanying Notes to Consolidated Financial Statements