Express Scripts 2014 Annual Report Download - page 98
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96
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, 2014
Revenues $—$37,932.2 $36,342.6 $29,591.6 $2,104.1 $(5,083.4) $ 100,887.1
Operatingexpenses — 36,105.3 36,051.3 28,428.0 1,783.5 (5,083.4)97,284.7
Operatingincome — 1,826.9 291.3 1,163.6 320.6 — 3,602.4
Other(expense)income:
Interest(expense)incomeandother,
net (429.2)(64.9)(39.9)7.9 (10.1)— (536.2)
Intercompanyinterestincome
(expense) 429.2 (214.6)— (214.6)— — —
Otherexpense,net — (279.5)(39.9)(206.7)(10.1)— (536.2)
Incomebeforeincometaxes — 1,547.4 251.4 956.9 310.5 — 3,066.2
Provision(benefit)forincometaxes 122.9 526.1 (17.1)379.4 19.9 — 1,031.2
Netincome(loss)fromcontinuing
operations (122.9)1,021.3 268.5 577.5 290.6 — 2,035.0
Equityinearnings(loss)of
subsidiaries 2,130.5 1,744.7 (904.0)— — (2,971.2)—
Netincome(loss) $2,007.6 $2,766.0 $(635.5) $ 577.5 $290.6 $(2,971.2) $ 2,035.0
Less:Netincomeattributabletonon-
controllinginterest — — — — 27.4 — 27.4
Netincome(loss)attributableto
ExpressScripts 2,007.6 2,766.0 (635.5)577.5 263.2 (2,971.2)2,007.6
Othercomprehensiveloss (9.6)(9.6)— — (9.6)19.2 (9.6)
Comprehensiveincome(loss)
attributabletoExpressScripts $1,998.0 $2,756.4 $(635.5) $ 577.5 $253.6 $(2,952.0) $ 1,998.0
For the year ended December 31, 2013
Revenues $—$29,927.9 $52,736.8 $23,273.8 $1,919.0 $(3,758.7) $ 104,098.8
Operatingexpenses — 28,380.5 52,498.3 21,988.0 1,439.0 (3,758.7)100,547.1
Operatingincome — 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)beforeincometaxes (343.9)1,398.6 215.0 1,291.2 469.4 — 3,030.3
Provision(benefit)forincometaxes (124.8)533.0 93.3 470.6 131.9 — 1,104.0
Netincome(loss)fromcontinuing
operations (219.1)865.6 121.7 820.6 337.5 — 1,926.3
Netlossfromdiscontinued
operations,netoftax — — — — (53.6)— (53.6)
Equityinearningsofsubsidiaries 2,063.7 803.5 272.9 — — (3,140.1)—
Netincome $1,844.6 $1,669.1 $394.6 $820.6 $283.9 $(3,140.1) $ 1,872.7
Less:Netincomeattributabletonon-
controllinginterest — — — — 28.1 — 28.1
NetincomeattributabletoExpress
Scripts 1,844.6 1,669.1 394.6 820.6 255.8 (3,140.1)1,844.6
Othercomprehensiveloss (7.2)(7.2)— — (7.2)14.4 (7.2)
Comprehensiveincomeattributable
toExpressScripts $1,837.4 $1,661.9 $394.6 $820.6 $248.6 $(3,125.7) $ 1,837.4
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