XML 85 R70.htm IDEA: XBRL DOCUMENT v3.10.0.1
Selected Quarterly Financial Data (Unaudited) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Net revenue:                      
Net revenue $ 1,844,645 $ 1,853,506 $ 1,810,923 $ 1,805,077 $ 1,694,415 $ 1,419,406 $ 1,419,139 $ 1,305,623 $ 7,314,151 $ 5,838,583 $ 4,836,884
Costs and expenses:                      
Cost of care 959,906 938,031 935,814 928,661 779,146 569,306 583,264 482,054 3,762,412 2,413,770 1,882,614
Cost of goods sold 593,793 571,145 558,419 559,665 563,240 543,682 562,355 542,633 2,283,022 2,211,910 1,818,720
Direct service costs and other operating expenses 277,835 265,471 259,152 269,077 261,653 227,372 231,372 221,486 1,071,535 [1],[2],[3] 941,883 [1],[2],[3] 876,612 [1],[2],[3]
Depreciation and amortization 35,358 33,047 33,848 30,407 32,810 28,189 27,731 26,976 132,660 115,706 106,046
Interest expense 9,362 8,990 8,678 8,366 9,266 7,663 4,900 4,148 35,396 25,977 10,193
Interest and other income (4,090) (4,139) (3,363) (2,476) (2,086) (1,781) (1,071) (949) (14,068) (5,887) (2,818)
Total costs and expenses 1,872,164 1,812,545 1,792,548 1,793,700 1,644,029 1,374,431 1,408,551 1,276,348 7,270,957 5,703,359 4,691,367
Income (loss) before income taxes (27,519) 40,961 18,375 11,377 50,386 44,975 10,588 29,275 43,194 135,224 145,517
Provision (benefit) for income taxes 448 13,816 4,824 (75) (4,123) 11,739 5,661 11,806 19,013 25,083 69,728
Net income         54,509 33,236 4,927 17,469 24,181 110,141 75,789
Less: net income (loss) attributable to non-controlling interest           785 (573) (278)   (66) (2,090)
Net income (loss) attributable to Magellan $ (27,967) $ 27,145 $ 13,551 $ 11,452 $ 54,509 $ 32,451 $ 5,500 $ 17,747 $ 24,181 $ 110,207 $ 77,879
Weighted average number of common shares outstanding-basic 24,048 24,433 24,569 24,349 23,921 23,282 23,108 23,012 24,349 23,333 23,181
Weighted average number of common shares outstanding-diluted 24,048 24,928 25,407 25,612 25,113 24,563 24,038 24,038 25,035 24,440 24,156
Net income (loss) per common share-basic (in dollars per share) $ (1.16) $ 1.11 $ 0.55 $ 0.47 $ 2.28 $ 1.39 $ 0.24 $ 0.77 $ 0.99 $ 4.72 $ 3.36
Net income (loss) per common share-diluted (in dollars per share) $ (1.16) $ 1.09 $ 0.53 $ 0.45 $ 2.17 $ 1.32 $ 0.23 $ 0.74 $ 0.97 $ 4.51 $ 3.22
Stock compensation expense $ 2,067 $ 9,320 $ 10,439 $ 7,646 $ 7,282 $ 10,323 $ 11,371 $ 10,140 $ 29,472 $ 39,116 $ 37,422
Changes in fair value of contingent consideration 856 148 70 233 1,327 (834) 252 (49) 1,307 696 (104)
Managed care and other                      
Net revenue:                      
Net revenue 1,207,552 1,235,787 1,215,340 1,219,763 1,093,785 834,358 821,699 729,340 4,878,442 3,479,182 2,902,942
PBM                      
Net revenue:                      
Net revenue $ 637,093 $ 617,719 $ 595,583 $ 585,314 $ 600,630 $ 585,048 $ 597,440 $ 576,283 $ 2,435,709 $ 2,359,401 $ 1,933,942
[1] Includes changes in fair value of contingent consideration of $(104), $696 and $1,307 for the years ended December 31, 2016, 2017 and 2018, respectively.
[2] Includes impairment of intangible assets of $4,800 for the year ended December 31, 2016.
[3] Includes stock compensation expense of $37,422, $39,116 and $29,472 for the years ended December 31, 2016, 2017 and 2018, respectively.