2017 Q4 Form 10-Q Financial Statement

#000007031817000024 Filed on November 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $4.978B $4.586B $5.216B
YoY Change 2.43% -12.08% 11.17%
Cost Of Revenue $800.0M $740.0M $767.0M
YoY Change 3.49% -3.52% 1.99%
Gross Profit $4.178B $3.846B $4.082B
YoY Change 2.23% -5.78% 3.6%
Gross Profit Margin 83.93% 83.86% 78.26%
Selling, General & Admin $2.284B $2.264B $2.308B
YoY Change -1.72% -1.91% 2.21%
% of Gross Profit 54.67% 58.87% 56.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $208.0M $219.0M $205.0M
YoY Change -4.59% 6.83% 10.81%
% of Gross Profit 4.98% 5.69% 5.02%
Operating Expenses $3.595B $3.602B $3.742B
YoY Change -3.83% -3.74% 4.32%
Operating Profit $583.0M $51.00M $339.0M
YoY Change 67.05% -84.96% -3.97%
Interest Expense -$204.0M $257.0M $243.0M
YoY Change 3.55% 5.76% -210.96%
% of Operating Profit -34.99% 503.92% 71.68%
Other Income/Expense, Net -$8.000M -$4.000M -$7.000M
YoY Change -42.86%
Pretax Income $224.0M -$348.0M $89.00M
YoY Change 672.41% -491.01% 122.5%
Income Tax $78.00M -$60.00M $10.00M
% Of Pretax Income 34.82% 11.24%
Net Earnings -$99.00M -$289.0M $80.00M
YoY Change 25.32% -461.25% -375.86%
Net Earnings / Revenue -1.99% -6.3% 1.53%
Basic Earnings Per Share -$2.27 -$3.64 -$0.08
Diluted Earnings Per Share -$2.27 -$3.64 -$0.08
COMMON SHARES
Basic Shares Outstanding 100.9M shares 100.8M shares 99.52M shares
Diluted Shares Outstanding 100.8M shares 99.52M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $611.0M $429.0M $649.0M
YoY Change -14.66% -33.9% 44.22%
Cash & Equivalents $611.0M $429.0M $649.0M
Short-Term Investments
Other Short-Term Assets $1.035B $1.160B $1.348B
YoY Change -19.46% -13.95% -55.26%
Inventory $289.0M $297.0M $322.0M
Prepaid Expenses
Receivables $2.616B $2.567B $2.786B
Other Receivables $5.000M $14.00M $11.00M
Total Short-Term Assets $5.573B $5.309B $5.116B
YoY Change 6.01% 3.77% -18.74%
LONG-TERM ASSETS
Property, Plant & Equipment $7.030B $7.077B $7.965B
YoY Change -12.7% -11.15% 8.66%
Goodwill $7.018B $7.022B
YoY Change -5.48%
Intangibles $1.766B $1.764B
YoY Change -4.28%
Long-Term Investments $958.0M $1.253B $1.324B
YoY Change 2.46% -5.36% 28.67%
Other Assets $455.0M $783.0M $840.0M
YoY Change -47.76% -6.79% 156.88%
Total Long-Term Assets $17.81B $17.90B $19.36B
YoY Change -8.39% -7.54% 14.7%
TOTAL ASSETS
Total Short-Term Assets $5.573B $5.309B $5.116B
Total Long-Term Assets $17.81B $17.90B $19.36B
Total Assets $23.39B $23.21B $24.47B
YoY Change -5.33% -5.17% 5.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.175B $1.100B $1.228B
YoY Change -11.59% -10.42% 1.82%
Accrued Expenses $1.104B $1.136B $1.644B
YoY Change 1.28% -30.9% 45.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $146.0M $140.0M $184.0M
YoY Change -23.56% -23.91% 64.29%
Total Short-Term Liabilities $4.332B $4.139B $4.547B
YoY Change 7.39% -8.97% 11.09%
LONG-TERM LIABILITIES
Long-Term Debt $14.79B $14.74B $14.32B
YoY Change -1.81% 2.92% -2.18%
Other Long-Term Liabilities $631.0M $604.0M $1.812B
YoY Change 3.44% -66.67% 4.26%
Total Long-Term Liabilities $631.0M $604.0M $16.14B
YoY Change 3.44% -96.26% -1.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.332B $4.139B $4.547B
Total Long-Term Liabilities $631.0M $604.0M $16.14B
Total Liabilities $20.98B $20.70B $23.95B
YoY Change -1.16% -13.57% 7.04%
SHAREHOLDERS EQUITY
Retained Earnings -$2.390B -$2.161B
YoY Change 37.2%
Common Stock $7.000M $7.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$147.0M $24.00M $528.0M
YoY Change
Total Liabilities & Shareholders Equity $23.39B $23.21B $24.47B
YoY Change -5.33% -5.17% 5.61%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$99.00M -$289.0M $80.00M
YoY Change 25.32% -461.25% -375.86%
Depreciation, Depletion And Amortization $208.0M $219.0M $205.0M
YoY Change -4.59% 6.83% 10.81%
Cash From Operating Activities $491.0M $308.0M $269.0M
YoY Change -267.58% 14.5% -44.19%
INVESTING ACTIVITIES
Capital Expenditures -$215.0M -$144.0M -$201.0M
YoY Change -17.62% -28.36% -2.9%
Acquisitions
YoY Change
Other Investing Activities $9.000M $679.0M -$3.000M
YoY Change -147.37% -22733.33% -96.25%
Cash From Investing Activities -$206.0M $535.0M -$204.0M
YoY Change -26.43% -362.25% -28.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -103.0M -889.0M -72.00M
YoY Change -116.09% 1134.72% 63.64%
NET CHANGE
Cash From Operating Activities 491.0M 308.0M 269.0M
Cash From Investing Activities -206.0M 535.0M -204.0M
Cash From Financing Activities -103.0M -889.0M -72.00M
Net Change In Cash 182.0M -46.00M -7.000M
YoY Change 171.64% 557.14% -104.64%
FREE CASH FLOW
Cash From Operating Activities $491.0M $308.0M $269.0M
Capital Expenditures -$215.0M -$144.0M -$201.0M
Free Cash Flow $706.0M $452.0M $470.0M
YoY Change -2306.25% -3.83% -31.79%

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us-gaap Malpractice Insurance Annual Coverage Limit
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Net Operating Revenues Before Provision for Doubtful Accounts</font></div><div style="line-height:120%;text-indent:84px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize net operating revenues before provision for doubtful accounts in the period in which our services are performed. Net operating revenues before provision for doubtful accounts primarily consist of net patient service revenues that are recorded based on established billing rates (i.e., gross charges), less estimated discounts for contractual and other allowances, principally for patients covered by Medicare, Medicaid, managed care and other health plans, as well as certain uninsured patients under our </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Compact with Uninsured Patients</font><font style="font-family:inherit;font-size:10pt;"> and other uninsured discount and charity programs.</font></div></div>

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