(i) | Express Scripts (the Parent Company), the issuer of certain guaranteed obligations; |
(ii) | ESI, guarantor, the issuer of additional guaranteed obligations; |
(iii) | Medco, guarantor, the issuer of additional guaranteed obligations; |
(iv) | Guarantor subsidiaries, on a combined basis (but excluding ESI and Medco), as specified in the indentures related to Express Scripts’, ESI’s and Medco’s obligations under the notes; |
(v) | Non-guarantor subsidiaries, on a combined basis; |
(vi) | Consolidating entries and eliminations representing adjustments to (a) eliminate intercompany transactions between or among Express Scripts, ESI, Medco, the guarantor subsidiaries and the non-guarantor subsidiaries, (b) eliminate the investments in our subsidiaries and (c) record consolidating entries; and |
(vii) | Express Scripts and subsidiaries on a consolidated basis. |
(i) | With respect to the condensed consolidating balance sheet as of December 31, 2012, amounts related to the goodwill allocated to Medco Health Solutions, Inc. and certain of its guarantor and non-guarantor subsidiaries have changed as we finalized the purchase price allocation in the first quarter of 2013. The impact of the measurement period adjustment is to reallocate goodwill and intercompany amounts as follows: |
(in millions) | Medco Health Solutions, Inc. | Guarantors | Non-guarantors | Eliminations | |||||||||||
Intercompany assets | $ | (2,040.0 | ) | $ | 2,000.5 | $ | — | $ | 39.5 | ||||||
Goodwill | $ | 2,040.0 | $ | (2,000.5 | ) | $ | 39.5 | $ | — | ||||||
Intercompany liabilities | $ | — | $ | — | $ | (39.5 | ) | $ | 39.5 |
Condensed Consolidating Balance Sheet | |||||||||||||||||||||||||||
(in millions) | Express Scripts Holding Company | Express Scripts, Inc. | Medco Health Solutions, Inc. | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 1,145.9 | $ | 3.6 | $ | 44.0 | $ | 797.9 | $ | — | $ | 1,991.4 | |||||||||||||
Restricted cash and investments | — | — | 1.0 | — | 21.8 | — | 22.8 | ||||||||||||||||||||
Receivables, net | — | 1,381.3 | 750.5 | 1,557.1 | 334.0 | — | 4,022.9 | ||||||||||||||||||||
Other current assets | — | 99.8 | 286.4 | 2,010.4 | 26.7 | — | 2,423.3 | ||||||||||||||||||||
Current assets of discontinued operations | — | — | — | — | 31.0 | — | 31.0 | ||||||||||||||||||||
Total current assets | — | 2,627.0 | 1,041.5 | 3,611.5 | 1,211.4 | — | 8,491.4 | ||||||||||||||||||||
Property and equipment, net | — | 550.3 | 5.4 | 1,082.7 | 20.5 | — | 1,658.9 | ||||||||||||||||||||
Investments in subsidiaries | 36,060.9 | 9,096.2 | 12,089.8 | — | — | (57,246.9 | ) | — | |||||||||||||||||||
Intercompany | — | — | — | 14,247.9 | — | (14,247.9 | ) | — | |||||||||||||||||||
Goodwill | — | 2,921.4 | 22,608.1 | 3,750.3 | 25.6 | — | 29,305.4 | ||||||||||||||||||||
Other intangible assets, net | 51.7 | 1,071.7 | 10,946.8 | 1,926.0 | 19.4 | — | 14,015.6 | ||||||||||||||||||||
Other assets | — | 79.9 | 16.5 | 3.9 | 12.2 | (35.6 | ) | 76.9 | |||||||||||||||||||
Total assets | $ | 36,112.6 | $ | 16,346.5 | $ | 46,708.1 | $ | 24,622.3 | $ | 1,289.1 | $ | (71,530.4 | ) | $ | 53,548.2 | ||||||||||||
Claims and rebates payable | $ | — | $ | 3,866.2 | $ | 2,901.6 | $ | — | $ | — | $ | — | $ | 6,767.8 | |||||||||||||
Accounts payable | — | 875.1 | 62.7 | 1,834.9 | 127.3 | — | 2,900.0 | ||||||||||||||||||||
Accrued expenses | 45.3 | 455.9 | 241.0 | 615.5 | 624.5 | — | 1,982.2 | ||||||||||||||||||||
Current maturities of long-term debt | 1,583.9 | 0.1 | — | — | — | — | 1,584.0 | ||||||||||||||||||||
Current liabilities of discontinued operations | — | — | — | — | 1.3 | — | 1.3 | ||||||||||||||||||||
Total current liabilities | 1,629.2 | 5,197.3 | 3,205.3 | 2,450.4 | 753.1 | — | 13,235.3 | ||||||||||||||||||||
Long-term debt | 7,975.9 | 1,994.9 | 2,392.2 | — | — | — | 12,363.0 | ||||||||||||||||||||
Intercompany | 4,670.1 | 6,328.1 | 3,222.2 | — | 27.5 | (14,247.9 | ) | — | |||||||||||||||||||
Deferred taxes | — | — | 4,034.7 | 1,386.4 | 19.5 | — | 5,440.6 | ||||||||||||||||||||
Other liabilities | — | 199.1 | 419.9 | 79.0 | 2.0 | (35.6 | ) | 664.4 | |||||||||||||||||||
Noncurrent liabilities of discontinued operations | — | — | — | — | 0.1 | — | 0.1 | ||||||||||||||||||||
Non-controlling interest | — | — | — | — | 7.4 | — | 7.4 | ||||||||||||||||||||
Express Scripts stockholders’ equity | 21,837.4 | 2,627.1 | 33,433.8 | 20,706.5 | 479.5 | (57,246.9 | ) | 21,837.4 | |||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 36,112.6 | $ | 16,346.5 | $ | 46,708.1 | $ | 24,622.3 | $ | 1,289.1 | $ | (71,530.4 | ) | $ | 53,548.2 | ||||||||||||
Condensed Consolidating Balance Sheet | |||||||||||||||||||||||||||
(in millions) | Express Scripts Holding Company | Express Scripts, Inc. | Medco Health Solutions, Inc. | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 2,346.6 | $ | — | $ | 126.9 | $ | 319.6 | $ | — | $ | 2,793.1 | |||||||||||||
Restricted cash and investments | — | — | — | 1.0 | 18.6 | — | 19.6 | ||||||||||||||||||||
Receivables, net | — | 1,097.8 | 2,330.0 | 1,493.0 | 505.0 | — | 5,425.8 | ||||||||||||||||||||
Other current assets | — | 119.2 | 306.6 | 1,800.4 | 20.8 | — | 2,247.0 | ||||||||||||||||||||
Current assets of discontinued operations | — | — | — | — | 271.4 | — | 271.4 | ||||||||||||||||||||
Total current assets | — | 3,563.6 | 2,636.6 | 3,421.3 | 1,135.4 | — | 10,756.9 | ||||||||||||||||||||
Property and equipment, net | — | 305.7 | — | 1,307.2 | 19.2 | — | 1,632.1 | ||||||||||||||||||||
Investments in subsidiaries | 31,375.6 | 8,292.7 | 5,121.0 | — | — | (44,789.3 | ) | — | |||||||||||||||||||
Intercompany | 2,189.0 | — | 926.8 | 6,127.2 | — | (9,243.0 | ) | — | |||||||||||||||||||
Goodwill | — | 2,921.4 | 22,621.5 | 3,750.3 | 27.2 | — | 29,320.4 | ||||||||||||||||||||
Other intangible assets, net | 67.1 | 1,192.4 | 12,609.4 | 2,153.6 | 15.4 | — | 16,037.9 | ||||||||||||||||||||
Other assets | — | 57.4 | 14.4 | 5.9 | 4.7 | (26.3 | ) | 56.1 | |||||||||||||||||||
Noncurrent assets of discontinued operations | — | — | — | — | 307.8 | — | 307.8 | ||||||||||||||||||||
Total assets | $ | 33,631.7 | $ | 16,333.2 | $ | 43,929.7 | $ | 16,765.5 | $ | 1,509.7 | $ | (54,058.6 | ) | $ | 58,111.2 | ||||||||||||
Claims and rebates payable | $ | — | $ | 2,554.1 | $ | 4,885.9 | $ | — | $ | — | $ | — | $ | 7,440.0 | |||||||||||||
Accounts payable | — | 477.5 | — | 2,284.5 | 136.9 | — | 2,898.9 | ||||||||||||||||||||
Accrued expenses | 62.9 | 428.3 | 327.8 | 612.0 | 201.9 | — | 1,632.9 | ||||||||||||||||||||
Current maturities of long-term debt | 631.6 | 0.1 | 303.2 | — | — | — | 934.9 | ||||||||||||||||||||
Current liabilities of discontinued operations | — | — | — | — | 150.7 | — | 150.7 | ||||||||||||||||||||
Total current liabilities | 694.5 | 3,460.0 | 5,516.9 | 2,896.5 | 489.5 | — | 13,057.4 | ||||||||||||||||||||
Long-term debt | 9,552.2 | 2,992.1 | 2,435.8 | — | — | — | 14,980.1 | ||||||||||||||||||||
Intercompany | — | 8,764.5 | — | — | 478.5 | (9,243.0 | ) | — | |||||||||||||||||||
Deferred taxes | — | — | 5,074.7 | 861.8 | — | — | 5,936.5 | ||||||||||||||||||||
Other liabilities | — | 158.7 | 484.6 | 73.1 | 2.8 | (26.3 | ) | 692.9 | |||||||||||||||||||
Noncurrent liabilities of discontinued operations | — | — | — | — | 48.6 | — | 48.6 | ||||||||||||||||||||
Non-controlling interest | — | — | — | — | 10.7 | — | 10.7 | ||||||||||||||||||||
Express Scripts stockholders’ equity | 23,385.0 | 957.9 | 30,417.7 | 12,934.1 | 479.6 | (44,789.3 | ) | 23,385.0 | |||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 33,631.7 | $ | 16,333.2 | $ | 43,929.7 | $ | 16,765.5 | $ | 1,509.7 | $ | (54,058.6 | ) | $ | 58,111.2 |
Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||
(in millions) | Express Scripts Holding Company | Express Scripts, Inc. | Medco Health Solutions, Inc. | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||||||
Revenues | $ | — | $ | 29,927.9 | $ | 52,736.8 | $ | 23,273.8 | $ | 1,517.7 | $ | (3,357.4 | ) | $ | 104,098.8 | ||||||||||||
Operating expenses | — | 28,380.5 | 52,498.3 | 21,988.0 | 1,037.7 | (3,357.4 | ) | 100,547.1 | |||||||||||||||||||
Operating income | — | 1,547.4 | 238.5 | 1,285.8 | 480.0 | — | 3,551.7 | ||||||||||||||||||||
Other (expense) income, net | (343.9 | ) | (148.8 | ) | (23.5 | ) | 5.4 | (10.6 | ) | — | (521.4 | ) | |||||||||||||||
Income (loss) before income taxes | (343.9 | ) | 1,398.6 | 215.0 | 1,291.2 | 469.4 | — | 3,030.3 | |||||||||||||||||||
Provision (benefit) for income taxes | (124.8 | ) | 533.0 | 93.3 | 470.6 | 131.9 | — | 1,104.0 | |||||||||||||||||||
Net income (loss) from continuing operations | (219.1 | ) | 865.6 | 121.7 | 820.6 | 337.5 | — | 1,926.3 | |||||||||||||||||||
Net loss from discontinued operations, net of tax | — | — | — | — | (53.6 | ) | — | (53.6 | ) | ||||||||||||||||||
Equity in earnings of subsidiaries | 2,063.7 | 803.5 | 272.9 | — | — | (3,140.1 | ) | — | |||||||||||||||||||
Net income | $ | 1,844.6 | $ | 1,669.1 | $ | 394.6 | $ | 820.6 | $ | 283.9 | $ | (3,140.1 | ) | $ | 1,872.7 | ||||||||||||
Less: Net income attributable to non-controlling interest | — | — | — | — | 28.1 | — | 28.1 | ||||||||||||||||||||
Net income attributable to Express Scripts | 1,844.6 | 1,669.1 | 394.6 | 820.6 | 255.8 | (3,140.1 | ) | 1,844.6 | |||||||||||||||||||
Other comprehensive loss, net of tax | (7.2 | ) | (7.2 | ) | — | — | (7.2 | ) | 14.4 | (7.2 | ) | ||||||||||||||||
Comprehensive income attributable to Express Scripts | $ | 1,837.4 | $ | 1,661.9 | $ | 394.6 | $ | 820.6 | $ | 248.6 | $ | (3,125.7 | ) | $ | 1,837.4 | ||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||||||||
Revenues | $ | — | $ | 29,763.1 | $ | 43,085.7 | $ | 22,007.8 | $ | 1,329.8 | $ | (2,472.1 | ) | $ | 93,714.3 | ||||||||||||
Operating expenses | — | 28,591.8 | 43,090.3 | 20,573.7 | 1,136.7 | (2,472.1 | ) | 90,920.4 | |||||||||||||||||||
Operating income | — | 1,171.3 | (4.6 | ) | 1,434.1 | 193.1 | — | 2,793.9 | |||||||||||||||||||
Other (expense) income, net | (373.7 | ) | (180.1 | ) | (49.4 | ) | (2.2 | ) | 11.9 | — | (593.5 | ) | |||||||||||||||
Income (loss) before income taxes | (373.7 | ) | 991.2 | (54.0 | ) | 1,431.9 | 205.0 | — | 2,200.4 | ||||||||||||||||||
Provision (benefit) for income taxes | (142.1 | ) | 449.6 | (20.4 | ) | 550.8 | 0.1 | — | 838.0 | ||||||||||||||||||
Net income (loss) from continuing operations | (231.6 | ) | 541.6 | (33.6 | ) | 881.1 | 204.9 | — | 1,362.4 | ||||||||||||||||||
Net loss from discontinued operations, net of tax | — | — | — | — | (32.3 | ) | — | (32.3 | ) | ||||||||||||||||||
Equity in earnings of subsidiaries | 1,544.5 | 740.0 | 296.5 | — | — | (2,581.0 | ) | — | |||||||||||||||||||
Net income | $ | 1,312.9 | $ | 1,281.6 | $ | 262.9 | $ | 881.1 | $ | 172.6 | $ | (2,581.0 | ) | $ | 1,330.1 | ||||||||||||
Less: Net income attributable to non-controlling interest | — | — | — | — | 17.2 | — | 17.2 | ||||||||||||||||||||
Net income attributable to Express Scripts | 1,312.9 | 1,281.6 | 262.9 | 881.1 | 155.4 | (2,581.0 | ) | 1,312.9 | |||||||||||||||||||
Other comprehensive income, net of tax | 1.9 | 1.9 | — | — | 1.9 | (3.8 | ) | 1.9 | |||||||||||||||||||
Comprehensive income attributable to Express Scripts | $ | 1,314.8 | $ | 1,283.5 | $ | 262.9 | $ | 881.1 | $ | 157.3 | $ | (2,584.8 | ) | $ | 1,314.8 | ||||||||||||
Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||
(in millions) | Express Scripts Holding Company | Express Scripts, Inc. | Medco Health Solutions, Inc. | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
For the year ended December 31, 2011 | |||||||||||||||||||||||||||
Revenues | $ | — | $ | 29,450.9 | $ | — | $ | 16,520.3 | $ | 157.1 | $ | — | $ | 46,128.3 | |||||||||||||
Operating expenses | — | 27,847.9 | — | 15,841.3 | 124.7 | — | 43,813.9 | ||||||||||||||||||||
Operating income | — | 1,603.0 | — | 679.0 | 32.4 | — | 2,314.4 | ||||||||||||||||||||
Other (expense) income, net | (22.2 | ) | (259.8 | ) | — | (5.9 | ) | 0.6 | — | (287.3 | ) | ||||||||||||||||
Income (loss) before income taxes | (22.2 | ) | 1,343.2 | — | 673.1 | 33.0 | — | 2,027.1 | |||||||||||||||||||
Provision (benefit) for income taxes | (8.1 | ) | 487.9 | — | 263.8 | 5.0 | — | 748.6 | |||||||||||||||||||
Net income (loss) from continuing operations | (14.1 | ) | 855.3 | — | 409.3 | 28.0 | — | 1,278.5 | |||||||||||||||||||
Equity in earnings of subsidiaries | 1,289.9 | 434.6 | — | — | — | (1,724.5 | ) | — | |||||||||||||||||||
Net income | $ | 1,275.8 | $ | 1,289.9 | $ | — | $ | 409.3 | $ | 28.0 | $ | (1,724.5 | ) | $ | 1,278.5 | ||||||||||||
Less: Net income attributable to non-controlling interest | — | — | — | — | 2.7 | — | 2.7 | ||||||||||||||||||||
Net income attributable to Express Scripts | 1,275.8 | 1,289.9 | — | 409.3 | 25.3 | (1,724.5 | ) | 1,275.8 | |||||||||||||||||||
Other comprehensive loss, net of tax | (2.8 | ) | (2.8 | ) | — | — | (2.8 | ) | 5.6 | (2.8 | ) | ||||||||||||||||
Comprehensive income attributable to Express Scripts | $ | 1,273.0 | $ | 1,287.1 | $ | — | $ | 409.3 | $ | 22.5 | $ | (1,718.9 | ) | $ | 1,273.0 |
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||||||||
(in millions) | Express Scripts Holding Company | Express Scripts, Inc. | Medco Health Solutions, Inc. | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||||||
Net cash flows provided by (used in) operating activities | $ | (214.1 | ) | $ | 2,731.3 | $ | 765.9 | $ | 556.0 | $ | 929.1 | $ | (10.7 | ) | $ | 4,757.5 | |||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||
Purchases of property and equipment | — | (398.3 | ) | — | (16.5 | ) | (8.2 | ) | — | (423.0 | ) | ||||||||||||||||
Proceeds from the sale of business | — | 1.6 | — | 355.3 | — | — | 356.9 | ||||||||||||||||||||
Acquisitions, net of cash acquired | — | — | — | — | (14.5 | ) | — | (14.5 | ) | ||||||||||||||||||
Other | — | 14.0 | — | — | (3.4 | ) | — | 10.6 | |||||||||||||||||||
Net cash (used in) provided by investing activities—continuing operations | — | (382.7 | ) | — | 338.8 | (26.1 | ) | — | (70.0 | ) | |||||||||||||||||
Net cash used in investing activities—discontinued operations | — | — | — | — | (2.1 | ) | — | (2.1 | ) | ||||||||||||||||||
Net cash (used in) provided by investing activities | — | (382.7 | ) | — | 338.8 | (28.2 | ) | — | (72.1 | ) | |||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||
Treasury stock acquired | (4,055.2 | ) | — | — | — | — | — | (4,055.2 | ) | ||||||||||||||||||
Repayment of long-term debt | (631.6 | ) | (1,000.0 | ) | (300.0 | ) | — | — | — | (1,931.6 | ) | ||||||||||||||||
Net proceeds from employee stock plans | 466.0 | — | — | — | — | — | 466.0 | ||||||||||||||||||||
Excess tax benefit relating to employee stock-based compensation | — | 26.6 | 16.1 | — | — | — | 42.7 | ||||||||||||||||||||
Distributions paid to non-controlling interest | — | — | — | — | (31.7 | ) | — | (31.7 | ) | ||||||||||||||||||
Other | — | — | — | (13.0 | ) | 28.0 | — | 15.0 | |||||||||||||||||||
Net intercompany transactions | 4,434.9 | (2,575.9 | ) | (478.4 | ) | (964.7 | ) | (415.9 | ) | — | — | ||||||||||||||||
Net cash (used in) provided by financing activities—continuing operations | 214.1 | (3,549.3 | ) | (762.3 | ) | (977.7 | ) | (419.6 | ) | — | (5,494.8 | ) | |||||||||||||||
Net cash used in financing activities— discontinued operations | — | — | — | — | (10.7 | ) | 10.7 | — | |||||||||||||||||||
Net cash (used in) provided by financing activities | 214.1 | (3,549.3 | ) | (762.3 | ) | (977.7 | ) | (430.3 | ) | 10.7 | (5,494.8 | ) | |||||||||||||||
Effect of foreign currency translation adjustment | — | — | — | — | (5.7 | ) | — | (5.7 | ) | ||||||||||||||||||
Less cash attributable to discontinued operations | — | — | — | — | 13.4 | — | 13.4 | ||||||||||||||||||||
Net (decrease) increase in cash and cash equivalents | — | (1,200.7 | ) | 3.6 | (82.9 | ) | 478.3 | — | (801.7 | ) | |||||||||||||||||
Cash and cash equivalents at beginning of year | — | 2,346.6 | — | 126.9 | 319.6 | — | 2,793.1 | ||||||||||||||||||||
Cash and cash equivalents at end of year | $ | — | $ | 1,145.9 | $ | 3.6 | $ | 44.0 | $ | 797.9 | $ | — | $ | 1,991.4 | |||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||||||||
(in millions) | Express Scripts Holding Company | Express Scripts, Inc. | Medco Health Solutions, Inc. | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||||||||
Net cash flows provided by (used in) operating activities | $ | (147.3 | ) | $ | 655.1 | $ | 3,355.4 | $ | 916.7 | $ | 1.7 | $ | — | $ | 4,781.6 | ||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||
Purchases of property and equipment | — | (70.0 | ) | — | (85.9 | ) | (4.3 | ) | — | (160.2 | ) | ||||||||||||||||
Proceeds from the sale of business | — | 31.5 | 30.0 | — | — | — | 61.5 | ||||||||||||||||||||
Acquisitions, net of cash acquired | (10,283.6 | ) | — | — | — | (42.4 | ) | — | (10,326.0 | ) | |||||||||||||||||
Other | — | (5.0 | ) | — | — | 1.0 | — | (4.0 | ) | ||||||||||||||||||
Net cash (used in) provided by investing activities—continuing operations | (10,283.6 | ) | (43.5 | ) | 30.0 | (85.9 | ) | (45.7 | ) | — | (10,428.7 | ) | |||||||||||||||
Acquisitions, cash acquired— discontinued operations | — | — | — | — | 42.4 | — | 42.4 | ||||||||||||||||||||
Net cash used in investing activities— discontinued operations | — | — | — | (3.8 | ) | (1.6 | ) | — | (5.4 | ) | |||||||||||||||||
Net cash (used in) provided by investing activities | (10,283.6 | ) | (43.5 | ) | 30.0 | (89.7 | ) | (4.9 | ) | — | (10,391.7 | ) | |||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||
Repayment of long-term debt | (1,368.4 | ) | (1,000.1 | ) | (1,500.0 | ) | — | — | — | (3,868.5 | ) | ||||||||||||||||
Net proceeds from employee stock plans | 295.2 | — | 30.8 | — | — | — | 326.0 | ||||||||||||||||||||
Excess tax benefit relating to employee stock-based compensation | — | 37.2 | 8.1 | — | — | — | 45.3 | ||||||||||||||||||||
Distributions paid to non-controlling interest | — | — | — | — | (8.1 | ) | — | (8.1 | ) | ||||||||||||||||||
Proceeds from long-term debt, net of discounts | 7,458.9 | — | — | — | — | — | 7,458.9 | ||||||||||||||||||||
Repayment of revolving credit line, net | — | — | (1,000.0 | ) | — | — | — | (1,000.0 | ) | ||||||||||||||||||
Proceeds from accounts receivable financing facility | — | — | — | — | 600.0 | — | 600.0 | ||||||||||||||||||||
Repayment of accounts receivable financing facility | — | — | — | — | (600.0 | ) | — | (600.0 | ) | ||||||||||||||||||
Deferred financing fees | (52.4 | ) | (50.8 | ) | — | — | — | — | (103.2 | ) | |||||||||||||||||
Net intercompany transactions | 4,097.6 | (2,773.5 | ) | (924.3 | ) | (705.5 | ) | 305.7 | — | — | |||||||||||||||||
Net cash provided by (used in) financing activities—continuing operations | 10,430.9 | (3,787.2 | ) | (3,385.4 | ) | (705.5 | ) | 297.6 | — | 2,850.4 | |||||||||||||||||
Net cash used in financing activities— discontinued operations | — | — | — | — | (26.8 | ) | — | (26.8 | ) | ||||||||||||||||||
Net cash provided by (used in) financing activities | 10,430.9 | (3,787.2 | ) | (3,385.4 | ) | (705.5 | ) | 270.8 | — | 2,823.6 | |||||||||||||||||
Effect of foreign currency translation adjustment | — | — | — | — | 2.0 | — | 2.0 | ||||||||||||||||||||
Less cash attributable to discontinued operations | — | — | — | — | (42.5 | ) | — | (42.5 | ) | ||||||||||||||||||
Net (decrease) increase in cash and cash equivalents | — | (3,175.6 | ) | — | 121.5 | 227.1 | — | (2,827.0 | ) | ||||||||||||||||||
Cash and cash equivalents at beginning of year | — | 5,522.2 | — | 5.4 | 92.5 | — | 5,620.1 | ||||||||||||||||||||
Cash and cash equivalents at end of year | $ | — | $ | 2,346.6 | $ | — | $ | 126.9 | $ | 319.6 | $ | — | $ | 2,793.1 | |||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||||||||
(in millions) | Express Scripts Holding Company | Express Scripts, Inc. | Medco Health Solutions, Inc. | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
For the year ended December 31, 2011 | |||||||||||||||||||||||||||
Net cash flows provided by (used in) operating activities | $ | (14.1 | ) | $ | 1,426.4 | $ | — | $ | 753.1 | $ | 27.7 | $ | — | $ | 2,193.1 | ||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||
Purchases of property and equipment | — | (124.9 | ) | — | (13.4 | ) | (6.1 | ) | — | (144.4 | ) | ||||||||||||||||
Other | — | (1.0 | ) | — | 1.3 | 20.2 | — | 20.5 | |||||||||||||||||||
Net cash (used in) provided by investing activities | — | (125.9 | ) | — | (12.1 | ) | 14.1 | — | (123.9 | ) | |||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||
Treasury stock acquired | — | (2,515.7 | ) | — | — | — | — | (2,515.7 | ) | ||||||||||||||||||
Repayment of long-term debt | — | (0.1 | ) | — | — | — | — | (0.1 | ) | ||||||||||||||||||
Net proceeds from employee stock plans | — | 32.2 | — | — | — | — | 32.2 | ||||||||||||||||||||
Excess tax benefit relating to employee stock-based compensation | — | 28.3 | — | — | — | — | 28.3 | ||||||||||||||||||||
Distributions paid to non-controlling interest | — | — | — | — | (1.1 | ) | — | (1.1 | ) | ||||||||||||||||||
Proceeds from long-term debt, net of discounts | 4,086.3 | 1,494.0 | — | — | — | — | 5,580.3 | ||||||||||||||||||||
Deferred financing fees | (29.2 | ) | (62.4 | ) | — | — | — | — | (91.6 | ) | |||||||||||||||||
Other | — | (2.9 | ) | — | — | — | — | (2.9 | ) | ||||||||||||||||||
Net intercompany transactions | (4,043.0 | ) | 4,791.6 | — | (744.6 | ) | (4.0 | ) | — | — | |||||||||||||||||
Net cash provided by (used in) financing activities | 14.1 | 3,765.0 | — | (744.6 | ) | (5.1 | ) | — | 3,029.4 | ||||||||||||||||||
Effect of foreign currency translation adjustment | — | — | — | — | (2.2 | ) | — | (2.2 | ) | ||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | 5,065.5 | — | (3.6 | ) | 34.5 | — | 5,096.4 | |||||||||||||||||||
Cash and cash equivalents at beginning of year | — | 456.7 | — | 9.0 | 58.0 | — | 523.7 | ||||||||||||||||||||
Cash and cash equivalents at end of year | $ | — | $ | 5,522.2 | $ | — | $ | 5.4 | $ | 92.5 | $ | — | $ | 5,620.1 |