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49 Express Scripts 2015 Annual Report
EXPRESS SCRIPTS HOLDING COMPANY
CONSOLIDATED STATEMENT OF OPERATIONS
Year Ended December 31,
(in millions, except per share data) 2015 2014 2013
Revenues(1) $ 101,751.8 $ 100,887.1 $ 104,098.8
Cost of revenues(1) 93,349.9 92,962.0 95,966.4
Gross profit 8,401.9 7,925.1 8,132.4
Selling, general and administrative 4,062.6 4,322.7 4,580.7
Operating income 4,339.3 3,602.4 3,551.7
Other (expense) income:
Interest income and other 24.8 46.7 74.7
Interest expense and other (500.3)(582.9)(596.1)
(475.5)(536.2)(521.4)
Income before income taxes 3,863.8 3,066.2 3,030.3
Provision for income taxes 1,364.3 1,031.2 1,104.0
Net income from continuing operations 2,499.5 2,035.0 1,926.3
Net loss from discontinued operations, net of tax ——
(53.6)
Net income 2,499.5 2,035.0 1,872.7
Less: Net income attributable to non-controlling interest 23.1 27.4 28.1
Net income attributable to Express Scripts $ 2,476.4 $ 2,007.6 $ 1,844.6
Weighted-average number of common shares outstanding during the
period:
Basic 689.0 750.3 808.6
Diluted 695.3 759.1 821.6
Basic earnings (loss) per share:
Continuing operations attributable to Express Scripts $ 3.59 $ 2.68 $ 2.35
Discontinued operations attributable to Express Scripts ——
(0.07)
Net earnings attributable to Express Scripts 3.59 2.68 2.28
Diluted earnings (loss) per share:
Continuing operations attributable to Express Scripts $ 3.56 $ 2.64 $ 2.31
Discontinued operations attributable to Express Scripts ——
(0.07)
Net earnings attributable to Express Scripts 3.56 2.64 2.25
Amounts attributable to Express Scripts:
Income from continuing operations, net of tax $ 2,476.4 $ 2,007.6 $ 1,898.2
Net loss from discontinued operations, net of tax ——
(53.6)
Net income attributable to Express Scripts $ 2,476.4 $ 2,007.6 $ 1,844.6
(1) Includes retail pharmacy co-payments of $9,170.0 million, $10,272.7 million and $12,620.3 million for the years ended
December 31, 2015, 2014 and 2013, respectively.
See accompanying Notes to Consolidated Financial Statements