NEW ACCOUNTING STANDARDS (Tables)

12 Months Ended

Dec. 31, 2018

ASU 2014-09

NEW ACCOUNTING STANDARDS

Schedule of impacts of adopting Topic 606

The details of the significant changes and quantitative impact on the financial statement line items in the consolidated balance sheet as of January 1, 2018 for the adoption of Topic 606 was as follows:

	As Reported,				As Adjusted,
	December 31, 2017		Adjustment		January 1, 2018
Receivables, net	$	332,091	$	(6,483)	$	325,608
Inventories		206,603		6,313		212,916
Total current assets		634,070		(170)		633,900
Total assets		1,940,423		(170)		1,940,253
Accrued expenses — other		20,560		(44)		20,516
Total current liabilities		651,457		(44)		651,413
Total liabilities		1,190,922		(44)		1,190,878
Retained earnings		91,816		(126)		91,690
Total shareholders’ equity		749,501		(126)		749,375
Total liabilities and shareholders’ equity		1,940,423		(170)		1,940,253

The table below summarize the impacts of the application of Topic 606 as compared with the guidance that was in effect before the change on the consolidated balance sheet, statement of operations and comprehensive loss, and statement of cash flows as of and for the year ended December 31, 2018, as follows:

			Adjustments
	As Reported		for Topic 606		As Adjusted
Consolidated Balance Sheet:
Receivables, net	$	326,602	$	15,106	$	341,708
Inventories		210,573		(14,489)		196,084
Total current assets		556,256		617		556,873
Total assets		1,476,359		617		1,476,976
Accrued expenses – other		21,014		160		21,174
Total current liabilities		558,585		160		558,745
Total liabilities		1,011,275		160		1,011,435
Accumulated deficit		(210,579)		457		(210,122)
Total shareholders’ equity		465,084		457		465,541
Total liabilities and shareholders’ equity		1,476,359		617		1,476,976
Consolidated Statement of Operations and Comprehensive Loss:
Net sales	$	5,492,524	$	(358,543)	$	5,133,981
Cost of sales		(5,116,515)		358,990		(4,757,525)
Gross profit		376,009		447		376,456
Loss from operations		(267,285)		447		(266,838)
Loss before income taxes		(307,308)		447		(306,861)
Income tax benefit		5,039		(116)		4,923
Net loss		(302,269)		331		(301,938)
Net loss attributable to Diplomat Pharmacy, Inc.		(302,269)		331		(301,938)
Total comprehensive loss		(306,561)		331		(306,230)
Consolidated Statement of Cash Flows:
Net loss	$	(302,269)	$	331	$	(301,938)
Change in: Accounts receivable		(2,333)		(15,106)		(17,439)
Inventories		(3,932)		14,489		10,557
Other assets and liabilities		5,612		286		5,898