Express Scripts 2013 Annual Report Download - page 76

Express Scripts 2013 Annual Report 76
Select financial information. The results of operations for our acute infusion therapies line of business, portions of
UBC, as defined above, EAV and our European operations are reported as discontinued operations for all periods presented in
the accompanying consolidated statement of operations in accordance with applicable accounting guidance. As such, results of
operations for the year ended December 31, 2013 and 2012 reflect these operations as discontinued. As the discontinued
operations were acquired through the Merger, results of operations for the period beginning January 1, 2012 through April 1,
2012 do not include these operations in our accompanying consolidated statement of operations. Additionally, for all periods
presented, cash flows of our discontinued operations are segregated in our accompanying consolidated statement of cash flows.
Finally, assets and liabilities of these businesses held were segregated in our accompanying consolidated balances sheet as of
December 31, 2013 and 2012. The major components of assets and liabilities of these discontinued operations are as follows:
December 31,
(in millions) 2013 2012
Current assets $ 31.0 $ 271.4
Goodwill — 127.9
Other intangible assets, net — 157.4
Other assets — 22.5
Total assets $ 31.0 $ 579.2
Current liabilities $ 1.3 $ 150.7
Deferred taxes — 44.9
Other liabilities 0.1 3.7
Total liabilities $ 1.4 $ 199.3
Select statement of operations information. Certain information with respect to discontinued operations, as
defined above, for the years ended December 31, 2013 and 2012 is summarized below. There were no discontinued operations
for the year ended December 31, 2011.
(in millions) 2013 2012
Revenues $ 521.2 $ 702.3
Operating loss (24.9)(22.7)
Income tax expense from discontinued operations (28.7)(7.5)
Net loss from discontinued operations, net of tax $(53.6)$ (32.3)
5. Property and equipment
Property and equipment of our continuing operations consists of the following:
December 31,
(in millions) 2013 2012
Land and buildings $ 215.8 $ 216.4
Furniture 71.6 66.6
Equipment(1) 707.5 542.5
Computer software 1,582.3 1,321.3
Leasehold improvements 173.4 179.1
Total property and equipment 2,750.6 2,325.9
Less accumulated depreciation(1) (1,091.7)(693.8)
Property and equipment, net $ 1,658.9 $ 1,632.1
(1) Includes gross assets of $58.1 million and accumulated depreciation of $5.5 million related to capital lease assets as of
December 31, 2013.
Depreciation expense for our continuing operations in 2013, 2012 and 2011 was $428.8 million, $283.0 million and
$98.6 million, respectively. Internally developed software, net of accumulated amortization, for our continuing operations was
$619.9 million and $743.5 million at December 31, 2013 and 2012, respectively. We capitalized $62.9 million of internally
developed software during 2013.