SEC Filings

8-K
ENVISION HEALTHCARE CORP filed this Form 8-K on 10/31/2017
Entire Document
 
Envision Healthcare Reports 2017 Third Quarter Financial Results
 
Page 6
 
 
October 31, 2017
 
 



Envision Healthcare Corporation
Unaudited Selected Consolidated Financial and Operating Data
(In millions, except earnings per share)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Statement of Operations Data:
2017
 
2016
 
2017
 
2016
Revenues
$
3,069.0

 
$
968.8

 
$
8,945.4

 
$
2,646.9

Provision for uncollectibles
(1,078.3
)
 
(146.6
)
 
(3,129.1
)
 
(341.5
)
Net revenue
1,990.7


822.2


5,816.3


2,305.4

Operating expenses:
 
 
 
 
 
 
 
Salaries and benefits
1,424.9

 
463.9

 
4,136.6

 
1,281.5

Supply cost
53.3

 
47.9

 
164.3

 
144.6

Insurance expense
45.2

 
19.2

 
136.6

 
56.0

Other operating expenses
198.3

 
93.1

 
571.6

 
271.5

Transaction and integration costs
18.8

 
16.9

 
67.7

 
23.4

Impairment charges

 

 
0.3

 

Depreciation and amortization
73.0

 
31.6

 
215.9

 
90.7

Total operating expenses
1,813.5


672.6


5,293.0


1,867.7

Net gain (loss) on disposals and deconsolidations
(3.3
)
 
4.1

 
(8.8
)
 
6.7

Equity in earnings of unconsolidated affiliates
5.0

 
4.4

 
15.6

 
18.4

Operating income
178.9


158.1


530.1


462.8

Interest expense, net
61.4

 
32.9

 
169.9

 
95.6

Other income, net
1.0

 

 
2.5

 

Earnings from continuing operations before income taxes
118.5


125.2


362.7


367.2

Income tax expense
27.1

 
29.6

 
80.2

 
83.8

Net earnings from continuing operations
91.4


95.6


282.5


283.4

Discontinued operations:
 
 
 
 
 
 
 
Earnings from discontinued operations
9.6

 

 
26.3

 

Income tax expense from discontinued operations
(22.0
)
 

 
(513.0
)
 

Net loss from discontinued operations
(12.4
)
 

 
(486.7
)
 

Net earnings (loss)
79.0

 
95.6

 
(204.2
)
 
283.4

Less net earnings attributable to noncontrolling interests
50.7

 
55.6

 
156.4

 
166.5

Net earnings (loss) attributable to Envision Healthcare Corporation stockholders
28.3


40.0


(360.6
)

116.9

Preferred stock dividends

 
(2.3
)
 
(4.5
)
 
(6.8
)
Net earnings (loss) attributable to Envision Healthcare Corporation common stockholders
$
28.3


$
37.7


$
(365.1
)

$
110.1

 
 
 
 
 
 
 
 
Amounts attributable to Envision Healthcare Corporation common stockholders:
 
 
 
 
 
 
 
Earnings from continuing operations, net of income tax
$
40.7

 
$
37.7

 
$
121.6

 
$
110.1

Loss from discontinued operations, net of income tax
(12.4
)
 

 
(486.7
)
 

Net earnings (loss) attributable to Envision Healthcare Corporation common stockholders
$
28.3


$
37.7


$
(365.1
)

$
110.1

 
 
 
 
 
 
 
 
Basic earnings (loss) per share attributable to common stockholders:
 
 
 
 
 
 
 
Net earnings from continuing operations
$
0.34

 
$
0.70

 
$
1.03

 
$
2.05

Net loss from discontinued operations
(0.10
)
 

 
(4.13
)
 

Net earnings (loss)
$
0.24

 
$
0.70

 
$
(3.10
)
 
$
2.05

Diluted earnings (loss) per share attributable to common stockholders:
 
 
 
 
 
 
 
Net earnings from continuing operations
$
0.33

 
$
0.69

 
$
1.01

 
$
2.03

Net loss from discontinued operations
(0.10
)
 

 
(4.13
)
 

Net earnings (loss)
$
0.23

 
$
0.69

 
$
(3.10
)
 
$
2.03

Weighted average number of shares and share equivalents outstanding:
 
 
 
 
 
 
 
Basic
119,949

 
53,757

 
117,788

 
53,720

Diluted
122,700

 
54,258

 
120,558

 
54,152


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