$MD
Pediatrix Medical Group, Inc.

2014 Q3 Form 10-Q Financial Statement

#000119312514389697 Filed on October 30, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $626.5M $554.7M
YoY Change 12.94% 17.25%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $455.4M $401.5M
YoY Change 13.42% 18.02%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.36M $10.46M
YoY Change 8.56% 32.0%
% of Gross Profit
Operating Expenses $488.4M $431.4M
YoY Change 13.19% 17.96%
Operating Profit $138.1M $123.3M
YoY Change 12.05% 14.82%
Interest Expense $2.019M $1.507M
YoY Change 33.97% 141.51%
% of Operating Profit 1.46% 1.22%
Other Income/Expense, Net -$731.0K -$1.135M
YoY Change -35.59%
Pretax Income $137.4M $122.2M
YoY Change 12.49% 13.98%
Income Tax $51.17M $45.20M
% Of Pretax Income 37.24% 37.0%
Net Earnings $86.21M $76.96M
YoY Change 12.02% 16.76%
Net Earnings / Revenue 13.76% 13.87%
Basic Earnings Per Share $0.87 $0.77
Diluted Earnings Per Share $0.86 $0.76
COMMON SHARES
Basic Shares Outstanding 99.09M shares 99.51M shares
Diluted Shares Outstanding 100.1M shares 101.2M shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.10M $21.20M
YoY Change 273.11% -70.51%
Cash & Equivalents $71.82M $16.24M
Short-Term Investments $7.300M $4.900M
Other Short-Term Assets $10.82M $9.415M
YoY Change 14.9% 36.49%
Inventory
Prepaid Expenses $8.778M $6.076M
Receivables $345.2M $272.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $481.1M $373.0M
YoY Change 28.98% -7.41%
LONG-TERM ASSETS
Property, Plant & Equipment $63.60M $60.93M
YoY Change 4.37% 2.91%
Goodwill $2.659B $2.354B
YoY Change 12.96% 21.36%
Intangibles
YoY Change
Long-Term Investments $61.80M $61.80M
YoY Change 0.0% 52.59%
Other Assets $212.4M $130.0M
YoY Change 63.45% 43.34%
Total Long-Term Assets $2.997B $2.607B
YoY Change 14.97% 22.38%
TOTAL ASSETS
Total Short-Term Assets $481.1M $373.0M
Total Long-Term Assets $2.997B $2.607B
Total Assets $3.478B $2.980B
YoY Change 16.72% 17.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.17M $11.47M
YoY Change 93.25% 15.09%
Accrued Expenses $278.1M $245.1M
YoY Change 13.46% 14.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0K $100.0K
YoY Change 200.0% 0.0%
Total Short-Term Liabilities $329.3M $274.0M
YoY Change 20.18% 11.89%
LONG-TERM LIABILITIES
Long-Term Debt $288.2M $123.7M
YoY Change 132.98% 156.11%
Other Long-Term Liabilities $54.51M $63.32M
YoY Change -13.91% 13.35%
Total Long-Term Liabilities $54.51M $63.32M
YoY Change -13.91% 13.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $329.3M $274.0M
Total Long-Term Liabilities $54.51M $63.32M
Total Liabilities $973.1M $745.8M
YoY Change 30.48% 27.73%
SHAREHOLDERS EQUITY
Retained Earnings $1.604B $1.405B
YoY Change 14.19% 19.0%
Common Stock $1.003M $502.0K
YoY Change 99.8% 0.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.504B $2.234B
YoY Change
Total Liabilities & Shareholders Equity $3.478B $2.980B
YoY Change 16.72% 17.64%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $86.21M $76.96M
YoY Change 12.02% 16.76%
Depreciation, Depletion And Amortization $11.36M $10.46M
YoY Change 8.56% 32.0%
Cash From Operating Activities $159.4M $157.9M
YoY Change 0.95% 17.22%
INVESTING ACTIVITIES
Capital Expenditures -$3.600M -$3.400M
YoY Change 5.88% 9.68%
Acquisitions
YoY Change
Other Investing Activities -$214.0M -$76.50M
YoY Change 179.74% -41.74%
Cash From Investing Activities -$217.7M -$79.80M
YoY Change 172.81% -40.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 112.3M -75.00M
YoY Change -249.73% -239.66%
NET CHANGE
Cash From Operating Activities 159.4M 157.9M
Cash From Investing Activities -217.7M -79.80M
Cash From Financing Activities 112.3M -75.00M
Net Change In Cash 54.00M 3.100M
YoY Change 1641.94% -94.26%
FREE CASH FLOW
Cash From Operating Activities $159.4M $157.9M
Capital Expenditures -$3.600M -$3.400M
Free Cash Flow $163.0M $161.3M
YoY Change 1.05% 17.05%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q3 us-gaap Malpractice Loss Contingency Accrual Undiscounted Noncurrent
MalpracticeLossContingencyAccrualUndiscountedNoncurrent
148942000
CY2014Q2 us-gaap Minority Interest Ownership Percentage By Parent
MinorityInterestOwnershipPercentageByParent
0.75 pure
CY2014Q2 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.375 pure
CY2014Q2 md Number Of Joint Ventures
NumberOfJointVentures
2 JointVenture
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16242000
CY2014Q3 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Including Subsequent Acquisition Percentage
BusinessCombinationStepAcquisitionEquityInterestInAcquireeIncludingSubsequentAcquisitionPercentage
0.75 pure
CY2014Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
100346000 shares
CY2014Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
100346000 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
6300000 shares
CY2014Q3 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.375 pure
CY2014Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2014Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2014Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2014Q3 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
349000
CY2014Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
170855000
CY2014Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
22098000
CY2014Q3 us-gaap Malpractice Loss Contingency Accrual Undiscounted Current
MalpracticeLossContingencyAccrualUndiscountedCurrent
18693000
CY2014Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
898560000
CY2014Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
22174000
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Liabilities Noncurrent
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilitiesNoncurrent
23900000
CY2014Q3 us-gaap Liabilities Current
LiabilitiesCurrent
329280000
CY2014Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
51585000
CY2014Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2505112000
CY2014Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
54507000
CY2014Q3 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
651000
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
2504047000
CY2014Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
857380000
CY2014Q3 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
41000
CY2014Q3 us-gaap Minority Interest
MinorityInterest
1065000
CY2014Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
300321000
CY2014Q3 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
287500000
CY2014Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
5500000
CY2014Q3 us-gaap Assets
Assets
3478217000
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
346800000
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
71822000
CY2014Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
1202549000
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1604484000
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
14400000
CY2014Q3 us-gaap Common Stock Value
CommonStockValue
1003000
CY2014Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3478217000
CY2014Q3 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
152225000
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
700000
CY2014Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
28610000
CY2014Q3 us-gaap Liabilities
Liabilities
973105000
CY2014Q3 us-gaap Business Combination Liabilities Arising From Contingencies Amount Recognized
BusinessCombinationLiabilitiesArisingFromContingenciesAmountRecognized
29200000
CY2014Q3 us-gaap Contingent Consideration Classified As Equity Fair Value Disclosure
ContingentConsiderationClassifiedAsEquityFairValueDisclosure
700000
CY2014Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q3 us-gaap Cash Surrender Value Of Life Insurance
CashSurrenderValueOfLifeInsurance
15900000
CY2014Q3 us-gaap Assets Current
AssetsCurrent
481061000
CY2014Q3 us-gaap Goodwill
Goodwill
2659331000
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
97600000
CY2014Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
212438000
CY2014Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
8778000
CY2014Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
5500000
CY2014Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
345169000
CY2014Q3 us-gaap Business Acquisition Preexisting Relationship Gain Loss Recognized
BusinessAcquisitionPreexistingRelationshipGainLossRecognized
0
CY2014Q3 us-gaap Held To Maturity Securities Noncurrent
HeldToMaturitySecuritiesNoncurrent
61791000
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
11800000
CY2014Q3 us-gaap Other Assets Current
OtherAssetsCurrent
10818000
CY2014Q3 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
7281000
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
3600000
CY2014Q3 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
37193000
CY2014Q3 us-gaap Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount
108600000
CY2014Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
63596000
CY2014Q3 md Number Of Physician Group Practices
NumberOfPhysicianGroupPractices
7 Company
CY2014Q3 md Accrued Contingent Consideration Liability
AccruedContingentConsiderationLiability
14916000
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
100415921 shares
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21280000
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101207000 shares
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101207000 shares
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1484023000
CY2013Q4 us-gaap Common Stock Value
CommonStockValue
1012000
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3008716000
CY2013Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
5300000
CY2013Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
285397000
CY2013Q4 us-gaap Held To Maturity Securities Noncurrent
HeldToMaturitySecuritiesNoncurrent
57511000
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
8007000
CY2013Q4 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
6457000
CY2013Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
30766000
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2013Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
92000
CY2013Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
189439000
CY2013Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
17422000
CY2013Q4 us-gaap Malpractice Loss Contingency Accrual Undiscounted Current
MalpracticeLossContingencyAccrualUndiscountedCurrent
19324000
CY2013Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
857953000
CY2013Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
18605000
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
326792000
CY2013Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
44131000
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2342988000
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
60985000
CY2013Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
143000
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
2342988000
CY2013Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
712285000
CY2013Q4 us-gaap Malpractice Loss Contingency Accrual Undiscounted Noncurrent
MalpracticeLossContingencyAccrualUndiscountedNoncurrent
139367000
CY2013Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
27000000
CY2013Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
308754000
CY2013Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
111441000
CY2013Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
17946000
CY2013Q4 us-gaap Liabilities
Liabilities
665728000
CY2013Q4 us-gaap Business Combination Liabilities Arising From Contingencies Amount Recognized
BusinessCombinationLiabilitiesArisingFromContingenciesAmountRecognized
43000000
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2013Q4 us-gaap Cash Surrender Value Of Life Insurance
CashSurrenderValueOfLifeInsurance
17100000
CY2013Q4 us-gaap Assets Current
AssetsCurrent
368125000
CY2013Q4 us-gaap Goodwill
Goodwill
2393731000
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
129438000
CY2013Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
6361000
CY2013Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
5300000
CY2013Q4 us-gaap Assets
Assets
3008716000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
31137000
CY2013Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
997682000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
193545000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
852500000
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
2.15
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99022000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
46000 shares
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
911000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
325015000
us-gaap Interest Expense
InterestExpense
4369000
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
59911000
CY2013Q4 md Accrued Contingent Consideration Liability
AccruedContingentConsiderationLiability
19833000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.00
us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
99022000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100962000 shares
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
100962000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.04
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
2.19
us-gaap Malpractice Loss Contingency Period Increase Decrease
MalpracticeLossContingencyPeriodIncreaseDecrease
17349000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
266149000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1940000 shares
us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
1586625000
us-gaap Profit Loss
ProfitLoss
201543000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3008000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
12684000
us-gaap Operating Income Loss
OperatingIncomeLoss
328214000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
217019000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1799726000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
18866000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
24748000
us-gaap Investment Income Net
InvestmentIncomeNet
1170000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3199000
us-gaap Net Income Loss
NetIncomeLoss
201543000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
76000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
51863000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3343000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
162573000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1316000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
6313000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-52405000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
19340000
us-gaap Share Based Compensation
ShareBasedCompensation
23189000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-5038000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-218782000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
4866000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
15357000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1711000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
832000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29475000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
10357000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23200000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
1008002000
us-gaap Operating Expenses
OperatingExpenses
1258411000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
123472000
md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
58361000
md Payment Of Contingent Consideration Liability
PaymentOfContingentConsiderationLiability
630000
md Payments Of Contingent Consideration Liabilities
PaymentsOfContingentConsiderationLiabilities
5680000
dei Trading Symbol
TradingSymbol
MD
dei Entity Registrant Name
EntityRegistrantName
MEDNAX, INC.
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Entity Central Index Key
EntityCentralIndexKey
0000893949
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
100168000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.32
us-gaap Line Of Credit Facility Description
LineOfCreditFacilityDescription
At the Company’s option, borrowings under the New Credit Agreement (other than swingline loans) will bear interest at (i) the alternate base rate (defined as the higher of (a) the prime rate, (b) the Federal Funds Rate plus 1/2 of 1.00% and (c) LIBOR for an interest period of one month plus 1.00%) plus an applicable margin rate ranging from 0.125% to 0.750% based on the Company’s consolidated leverage ratio or (ii) the LIBOR rate plus an applicable margin rate ranging from 1.125% to 1.750% based on the Company’s consolidated leverage ratio. Swingline loans will bear interest at the alternate base rate plus the applicable margin.
us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
two-for-one
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.28
us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
98791000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100168000 shares
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
2.36
us-gaap Malpractice Loss Contingency Period Increase Decrease
MalpracticeLossContingencyPeriodIncreaseDecrease
9575000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
243834000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1377000 shares
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
2.33
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98791000 shares
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3168000
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
346800000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
369743000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
346100000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
346071000
us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Fair Value1
BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1
7700000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
823500000
us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
1788389000
us-gaap Profit Loss
ProfitLoss
228923000
us-gaap Operating Income Loss
OperatingIncomeLoss
371913000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
233175000
us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
13400000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1870039000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
19604000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
49996000
us-gaap Investment Income Net
InvestmentIncomeNet
2533000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
500000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
272800000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
18600000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
179886000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1680000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
11405000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2170000
us-gaap Net Income Loss
NetIncomeLoss
228883000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
84000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
127759000
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
11200000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
875000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
40000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-12573000
us-gaap Goodwill Transfers
GoodwillTransfers
7200000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-506000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
14500000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
159431000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
10410000
us-gaap Share Based Compensation
ShareBasedCompensation
23914000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
40685000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-362580000
us-gaap Interest Expense
InterestExpense
5578000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
5502000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
24140000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
1025000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2711000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1084000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
32088000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
11159000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23900000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
1139050000
us-gaap Operating Expenses
OperatingExpenses
1416476000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
140820000
md Business Combination Contingent Consideration Arrangements Range Of Outcomes Period
BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesPeriod
P4Y
md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
65452000
md Payment Of Contingent Consideration Liability
PaymentOfContingentConsiderationLiability
3851000
md Payments Of Contingent Consideration Liabilities
PaymentsOfContingentConsiderationLiabilities
9550000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.76
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
101178000 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1672000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99506000 shares
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
122156000
CY2013Q3 us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
554730000
CY2013Q3 us-gaap Profit Loss
ProfitLoss
76958000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
123291000
CY2013Q3 us-gaap Investment Income Net
InvestmentIncomeNet
372000
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1135000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
76958000
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
54654000
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
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100145000 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.87
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1057000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99088000 shares
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
137412000
CY2014Q3 us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
626506000
CY2014Q3 us-gaap Profit Loss
ProfitLoss
86238000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
138143000
CY2014Q3 us-gaap Investment Income Net
InvestmentIncomeNet
563000
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-731000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
86207000
CY2014Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
725000
CY2014Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
31000
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
60643000
CY2014Q3 us-gaap Interest Expense
InterestExpense
2019000
CY2014Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11356000
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8100000
CY2014Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
394794000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
488363000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
51174000
CY2014Q3 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
21570000

Files In Submission

Name View Source Status
0001193125-14-389697-index-headers.html Edgar Link pending
0001193125-14-389697-index.html Edgar Link pending
0001193125-14-389697.txt Edgar Link pending
0001193125-14-389697-xbrl.zip Edgar Link pending
d800025d10q.htm Edgar Link pending
d800025dex101.htm Edgar Link pending
d800025dex311.htm Edgar Link pending
d800025dex312.htm Edgar Link pending
d800025dex32.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
md-20140930.xml Edgar Link completed
md-20140930.xsd Edgar Link pending
md-20140930_cal.xml Edgar Link unprocessable
md-20140930_def.xml Edgar Link unprocessable
md-20140930_lab.xml Edgar Link unprocessable
md-20140930_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending