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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net revenue:                      
Managed care and other $ 1,093,785 $ 834,358 $ 821,699 $ 729,340 $ 775,031 $ 751,589 $ 699,861 $ 676,461 $ 3,479,182 $ 2,902,942 $ 3,197,645
PBM and dispensing 600,630 585,048 597,440 576,283 488,354 540,543 464,484 440,561 2,359,401 1,933,942 1,399,755
Total net revenue 1,694,415 1,419,406 1,419,139 1,305,623 1,263,385 1,292,132 1,164,345 1,117,022 5,838,583 4,836,884 4,597,400
Costs and expenses:                      
Cost of care 779,146 569,306 583,264 482,054 472,211 480,243 472,529 457,631 2,413,770 1,882,614 2,274,755
Cost of goods sold 563,240 543,682 562,355 542,633 456,658 509,673 436,930 415,459 2,211,910 1,818,720 1,321,877
Direct service costs and other operating expenses 261,653 227,372 231,372 221,486 240,985 229,094 214,077 192,456 941,883 [1],[2],[3] 876,612 [1],[2],[3] 822,392 [1],[2],[3]
Depreciation and amortization 32,810 28,189 27,731 26,976 28,574 26,885 25,580 25,007 115,706 106,046 102,844
Interest expense 9,266 7,663 4,900 4,148 3,413 3,038 1,994 1,748 25,977 10,193 6,581
Interest and other income (2,086) (1,781) (1,071) (949) (702) (741) (692) (683) (5,887) (2,818) (2,165)
Total costs and expenses 1,644,029 1,374,431 1,408,551 1,276,348 1,201,139 1,248,192 1,150,418 1,091,618 5,703,359 4,691,367 4,526,284
Income (loss) before income taxes 50,386 44,975 10,588 29,275 62,246 43,940 13,927 25,404 135,224 145,517 71,116
Provision for income taxes (4,123) 11,739 5,661 11,806 26,469 18,631 12,615 12,013 25,083 69,728 42,409
Net income 54,509 33,236 4,927 17,469 35,777 25,309 1,312 13,391 110,141 75,789 28,707
Less: net loss attributable to non-controlling interest   785 (573) (278) 602 (200) (2,646) 154 (66) (2,090) (2,706)
Net income attributable to Magellan $ 54,509 $ 32,451 $ 5,500 $ 17,747 $ 35,175 $ 25,509 $ 3,958 $ 13,237 $ 110,207 $ 77,879 $ 31,413
Net income attributable to Magellan per common share:                      
Basic (in dollars per share) $ 2.28 $ 1.39 $ 0.24 $ 0.77 $ 1.56 $ 1.11 $ 0.17 $ 0.56 $ 4.72 $ 3.36 $ 1.26
Diluted (in dollars per share) $ 2.17 $ 1.32 $ 0.23 $ 0.74 $ 1.50 $ 1.06 $ 0.16 $ 0.54 $ 4.51 $ 3.22 $ 1.21
[1] Includes changes in fair value of contingent consideration of $44,257, $(104) and $696 for the years ended December 31, 2015, 2016 and 2017, respectively.
[2] Includes impairment of intangible assets of $4,800 for the year ended December 31, 2016.
[3] Includes stock compensation expense of $50,384, $37,422 and $39,116 for the years ended December 31, 2015, 2016 and 2017, respectively.