XML 19 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net revenue:                      
Managed care and other $ 863,506 $ 809,249 $ 776,240 $ 748,650 $ 753,489 $ 703,020 $ 682,274 $ 829,591 $ 3,197,645 $ 2,968,374 $ 3,063,049
PBM and dispensing 405,237 380,833 381,367 232,318 228,970 220,150 205,740 136,884 1,399,755 791,744 483,268
Total net revenue 1,268,743 1,190,082 1,157,607 980,968 982,459 923,170 888,014 966,475 4,597,400 3,760,118 3,546,317
Costs and expenses:                      
Cost of care 587,816 596,323 568,288 522,328 506,090 495,180 481,617 605,708 2,274,755 2,088,595 2,232,976
Cost of goods sold 381,817 360,444 361,409 218,207 212,905 202,180 192,566 125,298 1,321,877 732,949 455,601
Direct service costs and other operating expenses (1)(2) 205,901 220,586 191,455 204,450 202,814 176,928 179,034 164,722 822,392 [1],[2] 723,498 [1],[2] 619,546 [1],[2]
Depreciation and amortization 27,605 26,721 25,022 23,496 24,405 23,956 22,480 20,229 102,844 91,070 71,994
Interest expense 1,648 1,654 1,653 1,626 1,668 2,879 2,004 836 6,581 7,387 3,000
Interest and other income (568) (631) (500) (466) (474) (241) (275) (311) (2,165) (1,301) (1,985)
Total costs and expenses 1,204,219 1,205,097 1,147,327 969,641 947,408 900,882 877,426 916,482 4,526,284 3,642,198 3,381,132
Income before income taxes 64,524 (15,015) 10,280 11,327 35,051 22,288 10,588 49,993 71,116 117,920 165,185
Provision for income taxes 39,543 (7,254) 5,987 4,133 15,305 (3,490) 6,261 25,613 42,409 43,689 39,924
Net income 24,981 (7,761) 4,293 7,194 19,746 25,778 4,327 24,380 28,707 74,231 125,261
Less: net income (loss) attributable to non-controlling interest (2,309) 47 (350) (94) (1,819) (1,355) (659) (1,340) (2,706) (5,173)  
Net income attributable to Magellan Health, Inc. $ 27,290 $ (7,808) $ 4,643 $ 7,288 $ 21,565 $ 27,133 $ 4,986 $ 25,720 $ 31,413 $ 79,404 $ 125,261
Net income per common share attributable to Magellan Health, Inc.:                      
Basic (in dollars per share) $ 1.16 $ (0.31) $ 0.18 $ 0.29 $ 0.84 $ 1.02 $ 0.18 $ 0.94 $ 1.26 $ 2.98 $ 4.63
Diluted (in dollars per share) $ 1.12 $ (0.31) $ 0.17 $ 0.28 $ 0.82 $ 1.00 $ 0.18 $ 0.92 $ 1.21 $ 2.90 $ 4.53
[1] Includes changes in fair value of contingent consideration of $6,172 and $44,257 for the years ended December 31, 2014 and 2015, respectively.
[2] Includes stock compensation expense of $21,252, $40,584 and $50,384 for the years ended December 31, 2013, 2014 and 2015, respectively.