$MD
Pediatrix Medical Group, Inc.

2017 Q3 Form 10-Q Financial Statement

#000119312517329442 Filed on November 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3 2015 Q4
Revenue $869.0M $828.0M $741.7M
YoY Change 4.95% 14.64% 14.02%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $687.9M $615.3M $546.5M
YoY Change 11.8% 16.05% 15.78%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.12M $24.19M $18.15M
YoY Change 3.85% 42.95% 30.54%
% of Gross Profit
Operating Expenses $742.5M $671.1M $590.8M
YoY Change 10.64% 17.5% 15.97%
Operating Profit $126.4M $156.9M $151.0M
YoY Change -19.41% 3.81% 7.0%
Interest Expense $18.43M $17.22M $8.493M
YoY Change 7.05% 177.62% 156.35%
% of Operating Profit 14.58% 10.97% 5.63%
Other Income/Expense, Net -$18.43M -$16.20M -$6.965M
YoY Change 13.8% 233.98% 214.73%
Pretax Income $108.0M $140.7M $144.0M
YoY Change -23.24% -3.82% 3.69%
Income Tax $42.12M $44.27M $51.58M
% Of Pretax Income 39.0% 31.47% 35.82%
Net Earnings $65.88M $96.51M $92.70M
YoY Change -31.74% 6.31% 4.87%
Net Earnings / Revenue 7.58% 11.66% 12.5%
Basic Earnings Per Share $0.71 $1.04 $1.00
Diluted Earnings Per Share $0.71 $1.04 $0.99
COMMON SHARES
Basic Shares Outstanding 92.59M shares 92.60M shares 92.79M shares
Diluted Shares Outstanding 92.88M shares 93.15M shares 93.54M shares

Balance Sheet

Concept 2017 Q3 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.40M $63.30M $60.40M
YoY Change -6.16% -8.13% 11.85%
Cash & Equivalents $48.40M $52.81M $51.57M
Short-Term Investments $11.00M $10.50M $8.900M
Other Short-Term Assets $60.61M $11.96M $12.97M
YoY Change 406.87% -0.2% 64.13%
Inventory
Prepaid Expenses $13.32M $13.25M $9.639M
Receivables $520.0M $487.0M $444.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $653.3M $575.5M $527.8M
YoY Change 13.53% 0.4% 13.0%
LONG-TERM ASSETS
Property, Plant & Equipment $114.8M $98.50M $83.63M
YoY Change 16.59% 18.85% 26.63%
Goodwill $4.118B $3.829B $3.366B
YoY Change 7.56% 14.37% 21.25%
Intangibles $671.7M $424.2M
YoY Change 114.1%
Long-Term Investments $82.30M $79.10M $63.30M
YoY Change 4.05% 33.39% -1.25%
Other Assets $68.63M $90.22M $82.15M
YoY Change -23.93% -81.34% 123.6%
Total Long-Term Assets $5.027B $4.768B $4.019B
YoY Change 5.43% 20.01% 27.96%
TOTAL ASSETS
Total Short-Term Assets $653.3M $575.5M $527.8M
Total Long-Term Assets $5.027B $4.768B $4.019B
Total Assets $5.681B $5.344B $4.547B
YoY Change 6.3% 17.54% 26.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.34M $23.35M $21.97M
YoY Change 17.1% 4.5% -32.99%
Accrued Expenses $375.0M $339.9M $373.8M
YoY Change 10.33% 3.22% 7.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $29.30M $19.60M $10.00M
YoY Change 49.49% 66.1% 0.0%
Total Short-Term Liabilities $476.0M $413.0M $428.8M
YoY Change 15.24% 2.09% 3.0%
LONG-TERM LIABILITIES
Long-Term Debt $1.797B $1.769B $1.260B
YoY Change 1.58% 31.0% 126.1%
Other Long-Term Liabilities $42.28M $46.50M $52.29M
YoY Change -9.06% -18.74% -11.32%
Total Long-Term Liabilities $42.28M $46.50M $1.313B
YoY Change -9.06% -18.74% 112.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $476.0M $413.0M $428.8M
Total Long-Term Liabilities $42.28M $46.50M $1.313B
Total Liabilities $2.764B $2.677B $2.109B
YoY Change 3.27% 20.96% 57.1%
SHAREHOLDERS EQUITY
Retained Earnings $1.912B $1.707B $1.510B
YoY Change 11.99% 20.7% 9.7%
Common Stock $1.004B $959.9M $927.2M
YoY Change 4.65% 4.51% 4.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.917B $2.667B $2.438B
YoY Change
Total Liabilities & Shareholders Equity $5.681B $5.344B $4.547B
YoY Change 6.3% 17.54% 26.02%

Cashflow Statement

Concept 2017 Q3 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income $65.88M $96.51M $92.70M
YoY Change -31.74% 6.31% 4.87%
Depreciation, Depletion And Amortization $25.12M $24.19M $18.15M
YoY Change 3.85% 42.95% 30.54%
Cash From Operating Activities $199.9M $196.1M $104.1M
YoY Change 1.94% 13.88% -41.78%
INVESTING ACTIVITIES
Capital Expenditures -$10.10M -$9.200M -$7.200M
YoY Change 9.78% 27.78% 7.46%
Acquisitions
YoY Change
Other Investing Activities -$237.6M -$534.1M -$17.40M
YoY Change -55.51% 125.26% -87.04%
Cash From Investing Activities -$247.7M -$543.4M -$24.60M
YoY Change -54.42% 122.43% -82.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 55.70M 348.1M -88.90M
YoY Change -84.0% 413.42% 44.32%
NET CHANGE
Cash From Operating Activities 199.9M 196.1M 104.1M
Cash From Investing Activities -247.7M -543.4M -24.60M
Cash From Financing Activities 55.70M 348.1M -88.90M
Net Change In Cash 7.900M 800.0K -9.400M
YoY Change 887.5% -118.6% -60.5%
FREE CASH FLOW
Cash From Operating Activities $199.9M $196.1M $104.1M
Capital Expenditures -$10.10M -$9.200M -$7.200M
Free Cash Flow $210.0M $205.3M $111.3M
YoY Change 2.29% 14.44% -40.0%

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IncreaseDecreaseInAccruedPayrollTaxesAndBenefits
29200000
md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
88165000
md Number Of Physician Group Practices Acquired
NumberOfPhysicianGroupPracticesAcquired
9 Company
md Number Of Maternalfetal Medicine Practices Acquired
NumberOfMaternalfetalMedicinePracticesAcquired
2 Company
md Number Of Pediatric Subspecialty Practices Acquired
NumberOfPediatricSubspecialtyPracticesAcquired
2 Company
md Number Of Radiology Practices Acquired
NumberOfRadiologyPracticesAcquired
3 Company
md Number Of Neonatology Practices Acquired
NumberOfNeonatologyPracticesAcquired
1 Company
md Number Of Pediatric Multi Specialty Practices Acquired
NumberOfPediatricMultiSpecialtyPracticesAcquired
1 Company
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25900000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000 shares
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4077000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1233000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
16276000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
64010000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.65
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.67
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
3424000
us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
2352389000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
275523000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
385801000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-32628000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
8930000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-10279000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
24812000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-8143000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
709000 shares
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2379000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
139284000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1121000
us-gaap Interest Expense
InterestExpense
46736000
us-gaap Investment Income Net
InvestmentIncomeNet
1249000
us-gaap Malpractice Loss Contingency Period Increase Decrease
MalpracticeLossContingencyPeriodIncreaseDecrease
3453000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-771909000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
312830000
us-gaap Operating Expenses
OperatingExpenses
1923480000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
460312000
us-gaap Net Income Loss
NetIncomeLoss
246835000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-318000
us-gaap Operating Income Loss
OperatingIncomeLoss
428909000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-43108000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-838000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
50868000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
28420000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
61828000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
724861000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
8282000
us-gaap Payment For Contingent Consideration Liability Operating Activities
PaymentForContingentConsiderationLiabilityOperatingActivities
735000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
15599000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
32240000
us-gaap Profit Loss
ProfitLoss
246517000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1661000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1148000000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1601000
us-gaap Share Based Compensation
ShareBasedCompensation
25889000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93045000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92336000 shares
md Practice Salaries And Benefits
PracticeSalariesAndBenefits
1498268000
md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
85679000
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 Deconsolidation Percentage
DeconsolidationPercentage
1.00 pure
CY2017Q1 md Sale Of Minority Interest Percentage
SaleOfMinorityInterestPercentage
0.75 pure
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8700000
CY2016Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
24185000
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.04
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
CY2016Q3 us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
828006000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
93457000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
140693000
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
542000 shares
CY2016Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
796000
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
44272000
CY2016Q3 us-gaap Interest Expense
InterestExpense
17215000
CY2016Q3 us-gaap Investment Income Net
InvestmentIncomeNet
221000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
671115000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
96509000
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-88000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
156891000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-16198000
CY2016Q3 us-gaap Profit Loss
ProfitLoss
96421000
CY2016Q3 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
17600000
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93146000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92604000 shares
CY2016Q3 md Practice Salaries And Benefits
PracticeSalariesAndBenefits
521832000
CY2016Q3 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
31641000
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7700000
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
380000 shares
CY2017Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25116000
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.71
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.71
CY2017Q3 us-gaap Health Care Organization Revenue
HealthCareOrganizationRevenue
868951000
CY2017Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
101430000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
107999000
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
292000 shares
CY2017Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-240000
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
42119000
CY2017Q3 us-gaap Interest Expense
InterestExpense
18428000
CY2017Q3 us-gaap Investment Income Net
InvestmentIncomeNet
235000
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
742519000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
65880000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
126432000
CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-18433000
CY2017Q3 us-gaap Profit Loss
ProfitLoss
65880000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92881000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92589000 shares
CY2017Q3 md Practice Salaries And Benefits
PracticeSalariesAndBenefits
586476000
CY2017Q3 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
29497000

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