2017 Q2 Form 10-Q Financial Statement

#000117992917000172 Filed on August 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $4.999B $4.359B
YoY Change 14.68% 23.66%
Cost Of Revenue $4.615B $3.710B
YoY Change 24.39% 25.24%
Gross Profit $254.0M $466.0M
YoY Change -45.49% 19.79%
Gross Profit Margin 5.08% 10.69%
Selling, General & Admin $519.0M $510.0M
YoY Change 1.76% 20.91%
% of Gross Profit 204.33% 109.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $47.00M $45.00M
YoY Change 4.44% 52.54%
% of Gross Profit 18.5% 9.66%
Operating Expenses $556.0M $544.0M
YoY Change 2.21% 21.73%
Operating Profit -$287.0M $105.0M
YoY Change -373.33% -9.48%
Interest Expense $27.00M $25.00M
YoY Change 8.0% 66.67%
% of Operating Profit 23.81%
Other Income/Expense, Net -$27.00M -$25.00M
YoY Change 8.0% -266.67%
Pretax Income -$314.0M $80.00M
YoY Change -492.5% -20.79%
Income Tax -$84.00M $47.00M
% Of Pretax Income 58.75%
Net Earnings -$230.0M $33.00M
YoY Change -796.97% -15.38%
Net Earnings / Revenue -4.6% 0.76%
Basic Earnings Per Share -$4.10 $0.58
Diluted Earnings Per Share -$4.10 $0.58
COMMON SHARES
Basic Shares Outstanding 56.00M shares 55.00M shares
Diluted Shares Outstanding 56.00M shares 55.00M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.171B $4.313B
YoY Change 19.89% 23.92%
Cash & Equivalents $2.979B $2.345B
Short-Term Investments $2.192B $1.968B
Other Short-Term Assets $924.0M $197.0M
YoY Change 369.04% 32.56%
Inventory
Prepaid Expenses
Receivables $1.006B $1.012B
Other Receivables $68.00M $23.00M
Total Short-Term Assets $7.169B $5.545B
YoY Change 29.29% 15.37%
LONG-TERM ASSETS
Property, Plant & Equipment $449.0M $448.0M
YoY Change 0.22% 23.33%
Goodwill $559.0M $611.0M
YoY Change -8.51% 124.59%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $47.00M $39.00M
YoY Change 20.51% 3.14%
Total Long-Term Assets $1.414B $1.657B
YoY Change -14.67% 78.19%
TOTAL ASSETS
Total Short-Term Assets $7.169B $5.545B
Total Long-Term Assets $1.414B $1.657B
Total Assets $8.583B $7.202B
YoY Change 19.18% 25.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $375.0M $537.0M
YoY Change -30.17% 34.52%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $773.0M $1.000M
YoY Change 77200.0% -99.78%
Total Short-Term Liabilities $5.793B $3.646B
YoY Change 58.89% -2.47%
LONG-TERM LIABILITIES
Long-Term Debt $1.017B $1.626B
YoY Change -37.45% 242.82%
Other Long-Term Liabilities $54.00M $38.00M
YoY Change 42.11% 22.21%
Total Long-Term Liabilities $1.071B $1.664B
YoY Change -35.64% 5251.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.793B $3.646B
Total Long-Term Liabilities $1.071B $1.664B
Total Liabilities $7.062B $5.561B
YoY Change 26.99% 30.14%
SHAREHOLDERS EQUITY
Retained Earnings $657.0M $815.0M
YoY Change -19.39% 19.42%
Common Stock $865.0M $822.0M
YoY Change 5.23% 5.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.521B $1.641B
YoY Change
Total Liabilities & Shareholders Equity $8.583B $7.202B
YoY Change 19.18% 25.55%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$230.0M $33.00M
YoY Change -796.97% -15.38%
Depreciation, Depletion And Amortization $47.00M $45.00M
YoY Change 4.44% 52.54%
Cash From Operating Activities -$47.00M $139.0M
YoY Change -133.81% 47.72%
INVESTING ACTIVITIES
Capital Expenditures -$34.00M -$56.00M
YoY Change -39.29% 36.92%
Acquisitions
YoY Change
Other Investing Activities -$472.0M $97.00M
YoY Change -586.6% -133.66%
Cash From Investing Activities -$506.0M $41.00M
YoY Change -1334.15% -112.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 334.0M 9.000M
YoY Change 3611.11% -97.62%
NET CHANGE
Cash From Operating Activities -47.00M 139.0M
Cash From Investing Activities -506.0M 41.00M
Cash From Financing Activities 334.0M 9.000M
Net Change In Cash -219.0M 189.0M
YoY Change -215.87% 31.25%
FREE CASH FLOW
Cash From Operating Activities -$47.00M $139.0M
Capital Expenditures -$34.00M -$56.00M
Free Cash Flow -$13.00M $195.0M
YoY Change -106.67% 44.44%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The following table provides the details of our medical claims and benefits payable (including amounts payable for the provision of long-term services and supports, or LTSS) as of the dates indicated.</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:73%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">June&#160;30, <br clear="none"/>2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">December&#160;31,<br clear="none"/>2016</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Fee-for-service claims incurred but not paid (IBNP)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">1,478</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">1,352</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Pharmacy payable</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">121</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font 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clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">37</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font 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