Express Scripts Holding Co. | 2013 | FY | 3


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


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