$MD
Pediatrix Medical Group, Inc.

2013 Q3 Form 10-Q Financial Statement

#000119312513420886 Filed on October 31, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $554.7M $473.1M
YoY Change 17.25% 16.04%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $401.5M $340.2M
YoY Change 18.02% 17.43%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.46M $7.925M
YoY Change 32.0% 27.56%
% of Gross Profit
Operating Expenses $431.4M $365.8M
YoY Change 17.96% 17.0%
Operating Profit $123.3M $107.4M
YoY Change 14.82% 12.98%
Interest Expense $1.507M $624.0K
YoY Change 141.51% -40.91%
% of Operating Profit 1.22% 0.58%
Other Income/Expense, Net -$1.135M
YoY Change
Pretax Income $122.2M $107.2M
YoY Change 13.98% 13.63%
Income Tax $45.20M $41.26M
% Of Pretax Income 37.0% 38.5%
Net Earnings $76.96M $65.91M
YoY Change 16.76% 13.17%
Net Earnings / Revenue 13.87% 13.93%
Basic Earnings Per Share $0.77 $0.67
Diluted Earnings Per Share $0.76 $0.66
COMMON SHARES
Basic Shares Outstanding 99.51M shares 97.88M shares
Diluted Shares Outstanding 101.2M shares 99.62M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.20M $71.90M
YoY Change -70.51% 67.21%
Cash & Equivalents $16.24M $66.12M
Short-Term Investments $4.900M $5.800M
Other Short-Term Assets $9.415M $6.898M
YoY Change 36.49% -91.79%
Inventory
Prepaid Expenses $6.076M $5.149M
Receivables $272.8M $250.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $373.0M $402.8M
YoY Change -7.41% 20.6%
LONG-TERM ASSETS
Property, Plant & Equipment $60.93M $59.21M
YoY Change 2.91% -3.88%
Goodwill $2.354B $1.940B
YoY Change 21.36%
Intangibles
YoY Change
Long-Term Investments $61.80M $40.50M
YoY Change 52.59% 15.71%
Other Assets $130.0M $90.67M
YoY Change 43.34% 37.8%
Total Long-Term Assets $2.607B $2.130B
YoY Change 22.38% 15.41%
TOTAL ASSETS
Total Short-Term Assets $373.0M $402.8M
Total Long-Term Assets $2.607B $2.130B
Total Assets $2.980B $2.533B
YoY Change 17.64% 16.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.47M $9.970M
YoY Change 15.09% 1.73%
Accrued Expenses $245.1M $214.9M
YoY Change 14.05% 12.99%
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 $274.0M $244.9M
YoY Change 11.89% 13.85%
LONG-TERM LIABILITIES
Long-Term Debt $123.7M $48.30M
YoY Change 156.11% -4.17%
Other Long-Term Liabilities $63.32M $55.86M
YoY Change 13.35% -65.79%
Total Long-Term Liabilities $63.32M $55.86M
YoY Change 13.35% -73.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $274.0M $244.9M
Total Long-Term Liabilities $63.32M $55.86M
Total Liabilities $745.8M $583.9M
YoY Change 27.73% 12.8%
SHAREHOLDERS EQUITY
Retained Earnings $1.405B $1.181B
YoY Change 19.0%
Common Stock $502.0K $498.0K
YoY Change 0.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.234B $1.949B
YoY Change
Total Liabilities & Shareholders Equity $2.980B $2.533B
YoY Change 17.64% 16.2%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $76.96M $65.91M
YoY Change 16.76% 13.17%
Depreciation, Depletion And Amortization $10.46M $7.925M
YoY Change 32.0% 27.56%
Cash From Operating Activities $157.9M $134.7M
YoY Change 17.22% 34.57%
INVESTING ACTIVITIES
Capital Expenditures -$3.400M -$3.100M
YoY Change 9.68% -40.38%
Acquisitions
YoY Change
Other Investing Activities -$76.50M -$131.3M
YoY Change -41.74% 77.43%
Cash From Investing Activities -$79.80M -$134.4M
YoY Change -40.62% 69.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -75.00M 53.70M
YoY Change -239.66% -690.11%
NET CHANGE
Cash From Operating Activities 157.9M 134.7M
Cash From Investing Activities -79.80M -134.4M
Cash From Financing Activities -75.00M 53.70M
Net Change In Cash 3.100M 54.00M
YoY Change -94.26% 357.63%
FREE CASH FLOW
Cash From Operating Activities $157.9M $134.7M
Capital Expenditures -$3.400M -$3.100M
Free Cash Flow $161.3M $137.8M
YoY Change 17.05% 30.86%

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IncreaseDecreaseInOtherOperatingAssets
-754000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
9947000
us-gaap Operating Income Loss
OperatingIncomeLoss
286497000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
202085000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
21099000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
285686000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
20119000
us-gaap Investment Income Net
InvestmentIncomeNet
1215000
us-gaap Net Income Loss
NetIncomeLoss
174804000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
121000
us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
1345280000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-14699000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
143269000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
37238000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
23963000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
16731000
us-gaap Share Based Compensation
ShareBasedCompensation
20441000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
47528000
us-gaap Interest Expense
InterestExpense
2026000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-158000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
18827000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-209445000
us-gaap Accretion Expense
AccretionExpense
763000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2641000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
401500000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22725000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
4435000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20400000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
840242000
us-gaap Operating Expenses
OperatingExpenses
1058783000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
110882000
md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
52547000
md Payments Of Contingent Consideration Liabilities
PaymentsOfContingentConsiderationLiabilities
4903000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.32
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49809000 shares
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.35
CY2012Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
871000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48938000 shares
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
38000 shares
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
107373000
CY2012Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
292030000
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
365761000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
107171000
CY2012Q3 us-gaap Investment Income Net
InvestmentIncomeNet
422000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
65910000
CY2012Q3 us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
473134000
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
48200000
CY2012Q3 us-gaap Interest Expense
InterestExpense
624000
CY2012Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7925000
CY2012Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7300000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
41261000
CY2012Q3 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
17606000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.52
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50589000 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.55
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
836000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49753000 shares
CY2013Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
528000 shares
CY2013Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
shares
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
123291000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
122156000
CY2013Q3 us-gaap Investment Income Net
InvestmentIncomeNet
372000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
76958000
CY2013Q3 us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
554730000
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
54654000
CY2013Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
51900000
CY2013Q3 us-gaap Interest Expense
InterestExpense
1507000
CY2013Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10461000
CY2013Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8100000
CY2013Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
346879000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
431439000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
45198000
CY2013Q3 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
19445000

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