$MD
Pediatrix Medical Group, Inc.

2015 Q2 Form 10-Q Financial Statement

#000119312515270938 Filed on July 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $676.6M $595.5M
YoY Change 13.61% 12.54%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $495.2M $433.0M
YoY Change 14.36% 12.03%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.55M $10.36M
YoY Change 50.07% 4.97%
% of Gross Profit
Operating Expenses $535.6M $465.9M
YoY Change 14.97% 12.04%
Operating Profit $141.0M $129.7M
YoY Change 8.7% 14.38%
Interest Expense $5.149M $2.188M
YoY Change 135.33% 30.78%
% of Operating Profit 3.65% 1.69%
Other Income/Expense, Net -$4.020M -$1.703M
YoY Change 136.05% 33.36%
Pretax Income $136.9M $128.0M
YoY Change 7.01% 14.16%
Income Tax $52.89M $48.94M
% Of Pretax Income 38.62% 38.25%
Net Earnings $84.13M $79.02M
YoY Change 6.47% 14.16%
Net Earnings / Revenue 12.43% 13.27%
Basic Earnings Per Share $0.91 $0.80
Diluted Earnings Per Share $0.90 $0.79
COMMON SHARES
Basic Shares Outstanding 92.50M shares 98.41M shares
Diluted Shares Outstanding 93.50M shares 99.87M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.40M $25.30M
YoY Change 178.26% 25.25%
Cash & Equivalents $65.32M $17.71M
Short-Term Investments $5.100M $7.600M
Other Short-Term Assets $10.72M $10.88M
YoY Change -1.48% 11.25%
Inventory
Prepaid Expenses $9.256M $7.697M
Receivables $380.5M $327.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $525.5M $407.7M
YoY Change 28.9% 10.88%
LONG-TERM ASSETS
Property, Plant & Equipment $81.36M $60.18M
YoY Change 35.2% -2.0%
Goodwill $3.164B $2.516B
YoY Change 25.74% 10.69%
Intangibles
YoY Change
Long-Term Investments $61.90M $58.10M
YoY Change 6.54% -3.01%
Other Assets $442.5M $132.3M
YoY Change 234.46% 4.04%
Total Long-Term Assets $3.750B $2.767B
YoY Change 35.52% 9.72%
TOTAL ASSETS
Total Short-Term Assets $525.5M $407.7M
Total Long-Term Assets $3.750B $2.767B
Total Assets $4.275B $3.175B
YoY Change 34.67% 9.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.19M $25.39M
YoY Change -0.77% 116.24%
Accrued Expenses $261.5M $216.4M
YoY Change 20.84% 12.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $12.00M $100.0K
YoY Change 11900.0% 0.0%
Total Short-Term Liabilities $311.8M $262.8M
YoY Change 18.65% 23.52%
LONG-TERM LIABILITIES
Long-Term Debt $1.285B $178.6M
YoY Change 619.43% 15.97%
Other Long-Term Liabilities $64.42M $59.13M
YoY Change 8.94% 3.11%
Total Long-Term Liabilities $64.42M $59.13M
YoY Change 8.94% 3.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $311.8M $262.8M
Total Long-Term Liabilities $64.42M $59.13M
Total Liabilities $2.055B $769.7M
YoY Change 166.96% 10.55%
SHAREHOLDERS EQUITY
Retained Earnings $1.321B $1.518B
YoY Change -12.99% 10.71%
Common Stock $898.5M $1.002M
YoY Change 89573.65% 98.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.220B $2.404B
YoY Change
Total Liabilities & Shareholders Equity $4.275B $3.175B
YoY Change 34.67% 9.87%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $84.13M $79.02M
YoY Change 6.47% 14.16%
Depreciation, Depletion And Amortization $15.55M $10.36M
YoY Change 50.07% 4.97%
Cash From Operating Activities $146.1M $134.2M
YoY Change 8.87% 6.0%
INVESTING ACTIVITIES
Capital Expenditures -$7.300M -$3.200M
YoY Change 128.12% -36.0%
Acquisitions
YoY Change
Other Investing Activities -$528.2M -$67.60M
YoY Change 681.36% -42.86%
Cash From Investing Activities -$535.5M -$70.70M
YoY Change 657.43% -42.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 404.5M -65.60M
YoY Change -716.62% 166.67%
NET CHANGE
Cash From Operating Activities 146.1M 134.2M
Cash From Investing Activities -535.5M -70.70M
Cash From Financing Activities 404.5M -65.60M
Net Change In Cash 15.10M -2.100M
YoY Change -819.05% -90.19%
FREE CASH FLOW
Cash From Operating Activities $146.1M $134.2M
Capital Expenditures -$7.300M -$3.200M
Free Cash Flow $153.4M $137.4M
YoY Change 11.64% 4.41%

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us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
94405000 shares
us-gaap Malpractice Loss Contingency Period Increase Decrease
MalpracticeLossContingencyPeriodIncreaseDecrease
5289000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93361000 shares
dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Registrant Name
EntityRegistrantName
MEDNAX, INC.
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94405000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1044000 shares
us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
93361000 shares
dei Trading Symbol
TradingSymbol
MD
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.64
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2700000 shares
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2680000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
233601000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
455000
us-gaap Net Income Loss
NetIncomeLoss
152837000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
157668000
us-gaap Profit Loss
ProfitLoss
152637000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
569465000
us-gaap Operating Income Loss
OperatingIncomeLoss
255778000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-3859000
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
596000000
us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
5400000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
10948000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-6324000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2125000
us-gaap Investment Income Net
InvestmentIncomeNet
526000
us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
1315983000
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
9000000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1227000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
249454000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1405488000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
690500000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
12669000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1566000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
96817000
us-gaap Share Based Compensation
ShareBasedCompensation
15764000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
2062000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
17394000
us-gaap Operating Expenses
OperatingExpenses
1060205000
us-gaap Interest Expense
InterestExpense
8416000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-579054000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
14028000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
503999000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-261000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
17535000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10956000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
5228000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-119527000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15800000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
140337000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1414500000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-12135000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
8973000
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
23000000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
233600000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29161000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-200000
md Payment Of Contingent Consideration Liability Financing
PaymentOfContingentConsiderationLiabilityFinancing
4647000
md Payment Of Contingent Consideration Liability Operating
PaymentOfContingentConsiderationLiabilityOperating
792000
md Business Combination Contingent Consideration Arrangements Time Period
BusinessCombinationContingentConsiderationArrangementsTimePeriod
P2Y
md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
48309000
md Assumed Payment Probability Of Contingent Consideration Payment
AssumedPaymentProbabilityOfContingentConsiderationPayment
1.00 pure
md Increase Decrease In Accrued Payroll Taxes And Benefits
IncreaseDecreaseInAccruedPayrollTaxesAndBenefits
89800000
md Number Of Physician Group Practices Acquired
NumberOfPhysicianGroupPracticesAcquired
7 Company
md Number Of Anesthesiology Practices Acquired
NumberOfAnesthesiologyPracticesAcquired
4 Company
md Number Of Neonatology Practices Acquired
NumberOfNeonatologyPracticesAcquired
2 Company
md Number Of Other Pediatric Subspecialty Practices Acquired
NumberOfOtherPediatricSubspecialtyPracticesAcquired
1 Company
md Practice Salaries And Benefits
PracticeSalariesAndBenefits
842398000
md Payments To Acquire Businesses Net Of Cash Acquired Excluding Prior Period Adjustments
PaymentsToAcquireBusinessesNetOfCashAcquiredExcludingPriorPeriodAdjustments
568900000
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.79
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99866000 shares
CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1455000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98411000 shares
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.80
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
79016000
CY2014Q2 us-gaap Profit Loss
ProfitLoss
79025000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
129672000
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1703000
CY2014Q2 us-gaap Investment Income Net
InvestmentIncomeNet
335000
CY2014Q2 us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
595544000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
127969000
CY2014Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
150000
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
48944000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
465872000
CY2014Q2 us-gaap Interest Expense
InterestExpense
2188000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7700000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
60829000
CY2014Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10361000
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9000
CY2014Q2 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
22466000
CY2014Q2 md Practice Salaries And Benefits
PracticeSalariesAndBenefits
372216000
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.90
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93495000 shares
CY2015Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
995000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92500000 shares
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.91
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
84130000
CY2015Q2 us-gaap Profit Loss
ProfitLoss
84048000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
140957000
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4020000
CY2015Q2 us-gaap Investment Income Net
InvestmentIncomeNet
384000
CY2015Q2 us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
676588000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
136937000
CY2015Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
745000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
52889000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
535631000
CY2015Q2 us-gaap Interest Expense
InterestExpense
5149000
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8000000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
72401000
CY2015Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15549000
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-82000
CY2015Q2 md Business Acquisition Contingent Consideration At Fair Value Decrease
BusinessAcquisitionContingentConsiderationAtFairValueDecrease
800000
CY2015Q2 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
24878000
CY2015Q2 md Practice Salaries And Benefits
PracticeSalariesAndBenefits
422803000

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