SEC Filings

10-Q
ENVISION HEALTHCARE CORP filed this Form 10-Q on 11/03/2017
Entire Document
 
Item 1. Financial Statements - (continued)

therefore, these exceptions no longer applied at September 30, 2017. As a result, the Company recorded deferred tax expense and associated deferred tax liability in the amount of $503.0 million, which is a component of income tax expense of discontinued operations, as of September 30, 2017, and will be the obligation of the Company upon the completion of the divestiture of the medical transportation business.

The following table is a reconciliation of the major classes of assets and liabilities classified as held for sale in the accompanying consolidated balance sheets representing the medical transportation business as of September 30, 2017 and December 31, 2016 (in millions):
 
September 30,
 
December 31,
 
2017
 
2016
Assets
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
41.2

 
$
14.7

Insurance collateral (1)
1.3

 

Accounts receivable, net
522.8

 
457.2

Supplies inventory
37.9

 
37.8

Prepaid and other current assets
41.2

 
41.4

Property and equipment, net
306.4

 
294.4

Investments in unconsolidated affiliates
0.3

 
2.2

Goodwill
1,410.9

 
1,235.0

Intangible assets, net
904.8

 
929.4

Other assets
29.6

 
27.4

Total assets held for sale
$
3,296.4

 
$
3,039.5

Liabilities
 
 
 
Current liabilities:
 
 
 
Current portion of long-term debt
$
0.1

 
$
0.4

Accounts payable
34.2

 
31.4

Accrued salaries and benefits
74.8

 
77.4

Other accrued liabilities
208.4

 
140.2

Long-term debt
1.4

 
1.4

Deferred income taxes
360.3

 
337.0

Insurance reserves
95.7

 
91.6

Other long-term liabilities
22.1

 
38.6

Total liabilities held for sale
$
797.0

 
$
718.0

 
(1)
Insurance collateral for claims related to the medical transportation business are generally held within a captive insurance company. Such balances are available to settle the insurance claims of the medical transportation business but are not recorded into assets held for sale as the captive insurance company is a subsidiary of the Company, not the medical transportation business.


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