$MD
Pediatrix Medical Group, Inc.

2017 Q2 Form 10-Q Financial Statement

#000119312517240559 Filed on July 28, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $842.9M $771.8M
YoY Change 9.22% 14.07%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $664.4M $576.7M
YoY Change 15.21% 16.46%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.74M $20.24M
YoY Change 27.14% 30.18%
% of Gross Profit
Operating Expenses $721.0M $624.0M
YoY Change 15.56% 16.49%
Operating Profit $121.9M $147.8M
YoY Change -17.51% 4.84%
Interest Expense $18.54M $15.06M
YoY Change 23.09% 192.45%
% of Operating Profit 15.2% 10.19%
Other Income/Expense, Net -$17.48M -$13.86M
YoY Change 26.13% 244.75%
Pretax Income $104.4M $133.9M
YoY Change -22.03% -2.2%
Income Tax $40.73M $51.60M
% Of Pretax Income 39.0% 38.53%
Net Earnings $63.70M $82.43M
YoY Change -22.72% -2.02%
Net Earnings / Revenue 7.56% 10.68%
Basic Earnings Per Share $0.69 $0.89
Diluted Earnings Per Share $0.69 $0.89
COMMON SHARES
Basic Shares Outstanding 92.18M shares 92.18M shares
Diluted Shares Outstanding 92.81M shares 92.95M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.60M $62.50M
YoY Change -17.44% -11.22%
Cash & Equivalents $40.42M $51.89M
Short-Term Investments $11.20M $10.60M
Other Short-Term Assets $13.27M $13.38M
YoY Change -0.85% 24.9%
Inventory
Prepaid Expenses $12.32M $11.45M
Receivables $480.4M $461.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $557.6M $548.5M
YoY Change 1.66% 4.37%
LONG-TERM ASSETS
Property, Plant & Equipment $110.5M $89.90M
YoY Change 22.89% 10.49%
Goodwill $3.948B $3.510B
YoY Change 12.48% 10.95%
Intangibles $446.2M
YoY Change
Long-Term Investments $86.30M $74.50M
YoY Change 15.84% 20.36%
Other Assets $61.72M $101.9M
YoY Change -39.46% -76.96%
Total Long-Term Assets $4.850B $4.223B
YoY Change 14.84% 12.62%
TOTAL ASSETS
Total Short-Term Assets $557.6M $548.5M
Total Long-Term Assets $4.850B $4.223B
Total Assets $5.407B $4.771B
YoY Change 13.33% 11.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.37M $27.91M
YoY Change 8.78% 10.81%
Accrued Expenses $289.7M $272.2M
YoY Change 6.43% 4.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $27.00M $17.00M
YoY Change 58.82% 41.67%
Total Short-Term Liabilities $350.1M $332.1M
YoY Change 5.43% 6.51%
LONG-TERM LIABILITIES
Long-Term Debt $1.746B $1.423B
YoY Change 22.75% 10.71%
Other Long-Term Liabilities $45.74M $58.25M
YoY Change -21.48% -9.57%
Total Long-Term Liabilities $45.74M $58.25M
YoY Change -21.48% -9.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $350.1M $332.1M
Total Long-Term Liabilities $45.74M $58.25M
Total Liabilities $2.569B $2.213B
YoY Change 16.07% 7.71%
SHAREHOLDERS EQUITY
Retained Earnings $1.846B $1.611B
YoY Change 14.6% 21.95%
Common Stock $992.0M $947.0M
YoY Change 4.75% 5.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.838B $2.558B
YoY Change
Total Liabilities & Shareholders Equity $5.407B $4.771B
YoY Change 13.33% 11.61%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $63.70M $82.43M
YoY Change -22.72% -2.02%
Depreciation, Depletion And Amortization $25.74M $20.24M
YoY Change 27.14% 30.18%
Cash From Operating Activities $137.6M $149.7M
YoY Change -8.08% 2.46%
INVESTING ACTIVITIES
Capital Expenditures -$10.20M -$8.800M
YoY Change 15.91% 20.55%
Acquisitions
YoY Change
Other Investing Activities -$2.200M -$143.7M
YoY Change -98.47% -72.79%
Cash From Investing Activities -$12.30M -$152.4M
YoY Change -91.93% -71.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -126.7M -900.0K
YoY Change 13977.78% -100.22%
NET CHANGE
Cash From Operating Activities 137.6M 149.7M
Cash From Investing Activities -12.30M -152.4M
Cash From Financing Activities -126.7M -900.0K
Net Change In Cash -1.400M -3.600M
YoY Change -61.11% -123.84%
FREE CASH FLOW
Cash From Operating Activities $137.6M $149.7M
Capital Expenditures -$10.20M -$8.800M
Free Cash Flow $147.8M $158.5M
YoY Change -6.75% 3.32%

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HealthCareOrganizationRevenue
1524383000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
182066000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
245108000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-91836000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-6136000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-795000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
16228000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2467000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
793000 shares
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1583000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
95012000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2225000
us-gaap Interest Expense
InterestExpense
29521000
us-gaap Investment Income Net
InvestmentIncomeNet
1028000
us-gaap Malpractice Loss Contingency Period Increase Decrease
MalpracticeLossContingencyPeriodIncreaseDecrease
3522000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-228545000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
116704000
us-gaap Operating Expenses
OperatingExpenses
1252365000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
112161000
us-gaap Net Income Loss
NetIncomeLoss
150326000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-230000
us-gaap Operating Income Loss
OperatingIncomeLoss
272018000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-26910000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1089000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
38679000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
19171000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
61828000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
195715000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
4393000
us-gaap Payment For Contingent Consideration Liability Operating Activities
PaymentForContingentConsiderationLiabilityOperatingActivities
501000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11455000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
25020000
us-gaap Profit Loss
ProfitLoss
150096000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
902000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
737500000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
927000
us-gaap Share Based Compensation
ShareBasedCompensation
17240000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93018000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92225000 shares
md Practice Salaries And Benefits
PracticeSalariesAndBenefits
976436000
md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
54038000
CY2017Q1 us-gaap Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued
BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued
8804 shares
CY2017Q1 md Business Combination Disposition Or Assignment Restriction Period
BusinessCombinationDispositionOrAssignmentRestrictionPeriod
P3Y
CY2017Q1 md Sale Of Minority Interest Percentage
SaleOfMinorityInterestPercentage
0.75 pure
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8300000
CY2016Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
20241000
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.89
CY2016Q2 us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
771759000
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
92116000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
133926000
CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
763000 shares
CY2016Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
789000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
51601000
CY2016Q2 us-gaap Interest Expense
InterestExpense
15058000
CY2016Q2 us-gaap Investment Income Net
InvestmentIncomeNet
410000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
623974000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
82427000
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-102000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
147785000
CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-13859000
CY2016Q2 us-gaap Profit Loss
ProfitLoss
82325000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92945000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92182000 shares
CY2016Q2 md Practice Salaries And Benefits
PracticeSalariesAndBenefits
484625000
CY2016Q2 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
26992000
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7300000
CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8000 shares
CY2017Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25735000
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.69
CY2017Q2 us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
842944000
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
103015000
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
104423000
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
631000 shares
CY2017Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
689000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40725000
CY2017Q2 us-gaap Interest Expense
InterestExpense
18535000
CY2017Q2 us-gaap Investment Income Net
InvestmentIncomeNet
365000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
721040000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
63698000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
121904000
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-17481000
CY2017Q2 us-gaap Profit Loss
ProfitLoss
63698000
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92812000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92181000 shares
CY2017Q2 md Practice Salaries And Benefits
PracticeSalariesAndBenefits
561418000
CY2017Q2 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
30872000

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