General (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of customers generating in excess of ten percent of net revenues for respective segment

In addition to the Florida Contracts and the Iowa Contracts previously discussed, the following customers generated in excess of ten percent of net revenues for the respective segment for the six months ended June 30, 2015 and 2016 (in thousands):

Segment	Term Date	2015		2016
Healthcare
None
Pharmacy Management
Customer A	December 31, 2016	$	158,132	$	193,956

Schedule of fair value of financial assets and liabilities

In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company's assets and liabilities that are required to be measured at fair value as of December 31, 2015 and June 30, 2016 (in thousands):

	December 31, 2015
	Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents(1)	$	—	$	6,009	$	—	$	6,009
Restricted cash(2)		—		82,808		—		82,808
Investments:
U.S. government and agency securities		5,514		—		—		5,514
Obligations of government-sponsored enterprises(3)		—		50,525		—		50,525
Corporate debt securities		—		268,976		—		268,976
Certificates of deposit		—		1,150		—		1,150

Total assets held at fair value	$	5,514	$	409,468	$	—	$	414,982


Liabilities
Contingent consideration	$	—	$	—	$	92,426	$	92,426

Total liabilities held at fair value	$	—	$	—	$	92,426	$	92,426

	June 30, 2016
	Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents(4)	$	—	$	65,785	$	—	$	65,785
Restricted cash(5)		—		59,706		—		59,706
Investments:
U.S. government and agency securities		5,132		—		—		5,132
Obligations of government-sponsored enterprises(6)		—		54,708		—		54,708
Corporate debt securities		—		226,668		—		226,668
Certificates of deposit		—		1,150		—		1,150

Total assets held at fair value	$	5,132	$	408,017	$	—	$	413,149


Liabilities
Contingent consideration	$	—	$	—	$	3,808	$	3,808

Total liabilities held at fair value	$	—	$	—	$	3,808	$	3,808


(1)	Excludes $109.4 million of cash held in bank accounts by the Company.
(2)	Excludes $50.8 million of restricted cash held in bank accounts by the Company.
(3)	Includes investments in notes issued by the Federal Home Loan Bank and Federal Farm Credit Banks.
(4)	Excludes $132.9 million of cash held in bank accounts by the Company.
(5)	Excludes $20.9 million of restricted cash held in bank accounts by the Company.
(6)	Includes investments in notes issued by the Federal Home Loan Bank, Federal National Mortgage Association and Federal Farm Credit Banks.

Summary of the Company's liability for contingent consideration

The following table summarizes the Company's liability for contingent consideration for the six months ended (in thousands):

	June 30, 2016
Balance as of beginning of period	$	92,426
Acquistion of TMG		2,244
Change in fair value		197
Net payments		(91,059	)

Balance as of end of period	$	3,808

Summary of short-term and long-term "available-for-sale" investments

The following is a summary of short-term and long-term investments at December 31, 2015 and June 30, 2016 (in thousands):

	December 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government and agency securities	$	5,524	$	—	$	(10	)	$	5,514
Obligations of government-sponsored enterprises(1)		50,575		4		(54	)		50,525
Corporate debt securities		269,340		—		(364	)		268,976
Certificates of deposit		1,150		—		—			1,150

Total investments at December 31, 2015	$	326,589	$	4	$	(428	)	$	326,165

	June 30, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government and agency securities	$	5,126	$	6	$	—		$	5,132
Obligations of government-sponsored enterprises(2)		54,688		20		—			54,708
Corporate debt securities		226,735		26		(93	)		226,668
Certificates of deposit		1,150		—		—			1,150

Total investments at June 30, 2016	$	287,699	$	52	$	(93	)	$	287,658


(1)	Includes investments in notes issued by the Federal Home Loan Bank and Federal Farm Credit Banks.
(2)	Includes investments in notes issued by the Federal Home Loan Bank, Federal National Mortgage Association and Federal Farm Credit Banks.

Summary of maturity dates of investments

The maturity dates of the Company's investments as of June 30, 2016 are summarized below (in thousands):

	Amortized Cost		Estimated Fair Value
2016	$	215,467	$	215,426
2017		69,737		69,730
2018		2,495		2,502

Total investments at June 30, 2016	$	287,699	$	287,658

Schedule of stock option activity

Summarized information related to the Company's stock options for the six months ended June 30, 2016 is as follows:

	Options			Weighted Average Exercise Price
Outstanding, beginning of period		2,939,840		$	55.13
Granted		445,560			64.08
Forfeited		(45,263	)		51.07
Exercised		(195,202	)		49.00

Outstanding, end of period		3,144,935		$	56.84


Vested and expected to vest at end of period		3,111,786		$	56.78


Exercisable, end of period		1,785,957		$	53.13

Schedule of Non vested restricted stock award activity

Summarized information related to the Company's nonvested restricted stock awards ("RSAs") for the six months ended June 30, 2016 is as follows:

	Shares			Weighted Average Grant Date Fair Value
Outstanding, beginning of period		1,109,622		$	57.88
Awarded		16,065			65.36
Vested		(20,115	)		67.12
Forfeited		—			—

Outstanding, end of period		1,105,572			57.82

Schedule of Non vested restricted stock units

Summarized information related to the Company's nonvested restricted stock units ("RSUs") for the six months ended June 30, 2016 is as follows:

	Shares			Weighted Average Grant Date Fair Value
Outstanding, beginning of period		231,088		$	61.53
Awarded		51,521			64.87
Vested		(51,419	)		63.77
Forfeited		(13,713	)		63.59

Outstanding, end of period		217,477			61.66

Schedule of Non vested restricted performance stock units

Summarized information related to the Company's nonvested restricted performance stock units ("PSUs") for the six months ended June 30, 2016 is as follows:

	Shares		Weighted Average Grant Date Fair Value
Outstanding, beginning of period		36,938	$	85.00
Awarded		65,067		97.60
Vested		—		—
Forfeited		—		—

Outstanding, end of period		102,005		93.04