Express Scripts Holding Co. | 2013 | FY | 3


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, 2013
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$

 
$
29,927.9

 
$
52,736.8

 
$
23,273.8

 
$
1,517.7

 
$
(3,357.4
)
 
$
104,098.8

Operating expenses

 
28,380.5

 
52,498.3

 
21,988.0

 
1,037.7

 
(3,357.4
)
 
100,547.1

Operating income

 
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) before income taxes
(343.9
)
 
1,398.6

 
215.0

 
1,291.2

 
469.4

 

 
3,030.3

Provision (benefit) for income taxes
(124.8
)
 
533.0

 
93.3

 
470.6

 
131.9

 

 
1,104.0

Net income (loss) from continuing operations
(219.1
)
 
865.6

 
121.7

 
820.6

 
337.5

 

 
1,926.3

Net loss from discontinued operations, net of tax

 

 

 

 
(53.6
)
 

 
(53.6
)
Equity in earnings of subsidiaries
2,063.7

 
803.5

 
272.9

 

 

 
(3,140.1
)
 

Net income
$
1,844.6

 
$
1,669.1

 
$
394.6

 
$
820.6

 
$
283.9

 
$
(3,140.1
)
 
$
1,872.7

Less: Net income attributable to non-controlling interest

 

 

 

 
28.1

 

 
28.1

Net income attributable to Express Scripts
1,844.6

 
1,669.1

 
394.6

 
820.6

 
255.8

 
(3,140.1
)
 
1,844.6

Other comprehensive loss, net of tax
(7.2
)
 
(7.2
)
 

 

 
(7.2
)
 
14.4

 
(7.2
)
Comprehensive income attributable to Express Scripts
$
1,837.4

 
$
1,661.9

 
$
394.6

 
$
820.6

 
$
248.6

 
$
(3,125.7
)
 
$
1,837.4

For the year ended December 31, 2012
 
 
 
 
 
 
 
 
Revenues
$

 
$
29,763.1

 
$
43,085.7

 
$
22,007.8

 
$
1,329.8

 
$
(2,472.1
)
 
$
93,714.3

Operating expenses

 
28,591.8

 
43,090.3

 
20,573.7

 
1,136.7

 
(2,472.1
)
 
90,920.4

Operating income

 
1,171.3

 
(4.6
)
 
1,434.1

 
193.1

 

 
2,793.9

Other (expense) income, net
(373.7
)
 
(180.1
)
 
(49.4
)
 
(2.2
)
 
11.9

 

 
(593.5
)
Income (loss) before income taxes
(373.7
)
 
991.2

 
(54.0
)
 
1,431.9

 
205.0

 

 
2,200.4

Provision (benefit) for income taxes
(142.1
)
 
449.6

 
(20.4
)
 
550.8

 
0.1

 

 
838.0

Net income (loss) from continuing operations
(231.6
)
 
541.6

 
(33.6
)
 
881.1

 
204.9

 

 
1,362.4

Net loss from discontinued operations, net of tax

 

 

 

 
(32.3
)
 

 
(32.3
)
Equity in earnings of subsidiaries
1,544.5

 
740.0

 
296.5

 

 

 
(2,581.0
)
 

Net income
$
1,312.9

 
$
1,281.6

 
$
262.9

 
$
881.1

 
$
172.6

 
$
(2,581.0
)
 
$
1,330.1

Less: Net income attributable to non-controlling interest

 

 

 

 
17.2

 

 
17.2

Net income attributable to Express Scripts
1,312.9

 
1,281.6

 
262.9

 
881.1

 
155.4

 
(2,581.0
)
 
1,312.9

Other comprehensive income, net of tax
1.9

 
1.9

 

 

 
1.9

 
(3.8
)
 
1.9

Comprehensive income attributable to Express Scripts
$
1,314.8

 
$
1,283.5

 
$
262.9

 
$
881.1

 
$
157.3

 
$
(2,584.8
)
 
$
1,314.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
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, 2011
 
 
 
 
 
 
 
 
Revenues
$

 
$
29,450.9

 
$

 
$
16,520.3

 
$
157.1

 
$

 
$
46,128.3

Operating expenses

 
27,847.9

 

 
15,841.3

 
124.7

 

 
43,813.9

Operating income

 
1,603.0

 

 
679.0

 
32.4

 

 
2,314.4

Other (expense) income, net
(22.2
)
 
(259.8
)
 

 
(5.9
)
 
0.6

 

 
(287.3
)
Income (loss) before income taxes
(22.2
)
 
1,343.2

 

 
673.1

 
33.0

 

 
2,027.1

Provision (benefit) for income taxes
(8.1
)
 
487.9

 

 
263.8

 
5.0

 

 
748.6

Net income (loss) from continuing operations
(14.1
)
 
855.3

 

 
409.3

 
28.0

 

 
1,278.5

Equity in earnings of subsidiaries
1,289.9

 
434.6

 

 

 

 
(1,724.5
)
 

Net income
$
1,275.8

 
$
1,289.9

 
$

 
$
409.3

 
$
28.0

 
$
(1,724.5
)
 
$
1,278.5

Less: Net income attributable to non-controlling interest

 

 

 

 
2.7

 

 
2.7

Net income attributable to Express Scripts
1,275.8

 
1,289.9

 

 
409.3

 
25.3

 
(1,724.5
)
 
1,275.8

Other comprehensive loss, net of tax
(2.8
)
 
(2.8
)
 

 

 
(2.8
)
 
5.6

 
(2.8
)
Comprehensive income attributable to Express Scripts
$
1,273.0

 
$
1,287.1

 
$

 
$
409.3

 
$
22.5

 
$
(1,718.9
)
 
$
1,273.0


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