$MD
Pediatrix Medical Group, Inc.

2013 Q2 Form 10-Q Financial Statement

#000119312513310260 Filed on July 30, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $529.2M $449.5M
YoY Change 17.73% 14.26%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $386.5M $324.2M
YoY Change 19.22% 16.62%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.870M $7.687M
YoY Change 28.4% 27.44%
% of Gross Profit
Operating Expenses $415.8M $349.8M
YoY Change 18.87% 16.49%
Operating Profit $113.4M $99.74M
YoY Change 13.67% 7.1%
Interest Expense $1.673M $848.0K
YoY Change 97.29% -14.17%
% of Operating Profit 1.48% 0.85%
Other Income/Expense, Net -$1.277M
YoY Change
Pretax Income $112.1M $99.25M
YoY Change 12.94% 7.34%
Income Tax $42.88M $38.71M
% Of Pretax Income 38.25% 39.0%
Net Earnings $69.22M $60.54M
YoY Change 14.33% 8.23%
Net Earnings / Revenue 13.08% 13.47%
Basic Earnings Per Share $0.70 $0.62
Diluted Earnings Per Share $0.68 $0.61
COMMON SHARES
Basic Shares Outstanding 99.12M shares 97.09M shares
Diluted Shares Outstanding 101.1M shares 99.09M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.20M $15.50M
YoY Change 30.32% -55.59%
Cash & Equivalents $13.16M $12.15M
Short-Term Investments $7.000M $3.300M
Other Short-Term Assets $9.776M $6.801M
YoY Change 43.74% -91.09%
Inventory
Prepaid Expenses $7.055M $7.775M
Receivables $269.8M $240.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $367.7M $340.2M
YoY Change 8.07% 11.44%
LONG-TERM ASSETS
Property, Plant & Equipment $61.41M $59.87M
YoY Change 2.56% -0.38%
Goodwill $2.273B $1.808B
YoY Change 25.76%
Intangibles
YoY Change
Long-Term Investments $59.90M $49.10M
YoY Change 22.0% 91.05%
Other Assets $127.2M $90.12M
YoY Change 41.1% 34.9%
Total Long-Term Assets $2.522B $2.007B
YoY Change 25.66% 13.54%
TOTAL ASSETS
Total Short-Term Assets $367.7M $340.2M
Total Long-Term Assets $2.522B $2.007B
Total Assets $2.889B $2.347B
YoY Change 23.11% 13.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.74M $12.10M
YoY Change -3.01% 12.07%
Accrued Expenses $192.4M $168.3M
YoY Change 14.32% 13.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $100.0K
YoY Change 0.0% -50.0%
Total Short-Term Liabilities $212.8M $197.2M
YoY Change 7.89% 12.82%
LONG-TERM LIABILITIES
Long-Term Debt $154.0M $300.0K
YoY Change 51233.33% -99.55%
Other Long-Term Liabilities $57.34M $58.46M
YoY Change -1.91% -62.93%
Total Long-Term Liabilities $57.34M $58.46M
YoY Change -1.91% -73.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $212.8M $197.2M
Total Long-Term Liabilities $57.34M $58.46M
Total Liabilities $696.2M $476.9M
YoY Change 46.01% -1.17%
SHAREHOLDERS EQUITY
Retained Earnings $1.371B $1.115B
YoY Change 23.02%
Common Stock $506.0K $497.0K
YoY Change 1.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.193B $1.870B
YoY Change
Total Liabilities & Shareholders Equity $2.889B $2.347B
YoY Change 23.11% 13.23%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $69.22M $60.54M
YoY Change 14.33% 8.23%
Depreciation, Depletion And Amortization $9.870M $7.687M
YoY Change 28.4% 27.44%
Cash From Operating Activities $126.6M $117.1M
YoY Change 8.11% 22.88%
INVESTING ACTIVITIES
Capital Expenditures -$5.000M -$3.900M
YoY Change 28.21% 25.81%
Acquisitions
YoY Change
Other Investing Activities -$118.3M -$41.70M
YoY Change 183.69% -543.62%
Cash From Investing Activities -$123.4M -$45.60M
YoY Change 170.61% -823.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -24.60M -81.80M
YoY Change -69.93% -11.66%
NET CHANGE
Cash From Operating Activities 126.6M 117.1M
Cash From Investing Activities -123.4M -45.60M
Cash From Financing Activities -24.60M -81.80M
Net Change In Cash -21.40M -10.30M
YoY Change 107.77% -214.44%
FREE CASH FLOW
Cash From Operating Activities $126.6M $117.1M
Capital Expenditures -$5.000M -$3.900M
Free Cash Flow $131.6M $121.0M
YoY Change 8.76% 22.97%

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740000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
64869000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
275000000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-540000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
6821000
us-gaap Operating Income Loss
OperatingIncomeLoss
179124000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
125529000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1043113000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
14113000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
178515000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10532000
us-gaap Investment Income Net
InvestmentIncomeNet
793000
us-gaap Net Income Loss
NetIncomeLoss
108894000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
86000
us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
872146000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-57733000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
95069000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16480000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
10800000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
10324000
us-gaap Share Based Compensation
ShareBasedCompensation
13089000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-6450000
us-gaap Interest Expense
InterestExpense
1402000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-3312000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
13803000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-75003000
us-gaap Accretion Expense
AccretionExpense
517000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2466000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
246000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
14800000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
3706000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13100000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
548212000
us-gaap Operating Expenses
OperatingExpenses
693022000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
69621000
md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
34941000
md Payments Of Contingent Consideration Liabilities
PaymentsOfContingentConsiderationLiabilities
4903000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.22
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49545000 shares
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.25
CY2012Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1002000 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48543000 shares
CY2012Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
40000 shares
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
99736000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
99253000
CY2012Q2 us-gaap Investment Income Net
InvestmentIncomeNet
365000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
60544000
CY2012Q2 us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
449530000
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
48200000
CY2012Q2 us-gaap Interest Expense
InterestExpense
848000
CY2012Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7687000
CY2012Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6100000
CY2012Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
275951000
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
349794000
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38709000
CY2012Q2 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
17956000
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.37
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50549000 shares
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.40
CY2013Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
991000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49558000 shares
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
69000 shares
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
113371000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
112094000
CY2013Q2 us-gaap Investment Income Net
InvestmentIncomeNet
396000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
69218000
CY2013Q2 us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
529180000
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
54601000
CY2013Q2 us-gaap Interest Expense
InterestExpense
1673000
CY2013Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9870000
CY2013Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7800000
CY2013Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
331922000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
415809000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
42876000
CY2013Q2 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
19416000

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