SEC Filings

AMSURG CORP filed this Form 10-12G/A on 05/09/1997
Entire Document
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                                  AMSURG CORP.
  a. Principles of Consolidation
     AmSurg Corp. (the "Company"), through its wholly-owned subsidiaries, owns
majority interests primarily between 51% and 70% in limited partnerships and
limited liability companies ("LLCs") which own and operate practice-based
ambulatory surgery centers and physician practices. The Company also has
majority ownership interests in other partnerships and LLCs formed to develop
additional centers. The consolidated financial statements include the accounts
of the Company and its subsidiaries and the majority-owned limited partnerships
and LLCs in which the Company is the general partner or member. Consolidation of
such partnerships and LLCs is necessary as the Company has 51% or more of the
financial interest, is the general partner or majority member with all the
duties, rights and responsibilities thereof and is responsible for the day to
day management of the partnership or LLC. The limited partner or minority member
responsibilities are to provide the delivery of medical services with their
rights being restricted to those which protect their financial interests, such
as approval of the acquisition of significant assets or incurring debt which
they, as physician limited partners or members, are required to guarantee. All
material intercompany profits, transactions and balances have been eliminated.
All subsidiaries and minority owners are herein referred to as partnerships and
partners, respectively.
     At December 31, 1996, approximately 60% of the outstanding common shares of
the Company were owned by American Healthcorp, Inc. ("AHC").
  b. Cash and Cash Equivalents
     Cash and cash equivalents are comprised principally of demand deposits at
banks, and other highly liquid short-term investments with maturities less than
three months when purchased.
  c. Other Current Assets
     Other current assets are comprised of prepaid expenses and other
  d. Property and Equipment
     Property and equipment costs include expenditures which increase value or
extend useful lives. Depreciation for buildings and improvements is recognized
under the straight line method over 20 years, or for leasehold improvements,
over the remaining term of the lease plus renewal options. Depreciation for
moveable equipment is recognized over useful lives of five to ten years.
  e. Other Assets
     Other assets consist of deferred pre-opening costs, deferred organization
costs and deferred financing costs of the Company and the entities included in
the Company's consolidated financial statements. Deferred pre-opening costs are
being amortized over one year, deferred organization costs are being amortized
over five years, and deferred financing costs are being amortized over the term
of the related debt. Accumulated amortization of other assets at December 31,
1995 and 1996 was $325,528 and $402,402, respectively.
  f. Excess of Cost over Net Assets of Purchased Operations
     Excess of cost over net assets of purchased operations are being amortized
over 25 years. Accumulated amortization at December 31, 1995 and 1996 was
$1,705,157 and $2,757,394, respectively. The Company has consistently assessed
impairment of the excess of cost over net assets of purchased operations and
other long-lived assets in accordance with criteria consistent with the
provisions of Financial Accounting Standard No. 121 "Accounting for the
Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed