Segment information (Tables)

6 Months Ended

Jun. 30, 2011


*(in millions)*	PBM		EM		Total

For the three months ended June 30, 2011
Product revenues:
Network revenues⁽¹⁾	$	7,389.0	$	—	$	7,389.0
Home delivery and specialty revenues⁽²⁾		3,518.6		—		3,518.6
Other revenues		—		382.6		382.6
Service revenues		65.9		5.3		71.2

Total revenues		10,973.5		387.9		11,361.4
Depreciation and amortization expense		61.2		2.1		63.3
Operating income		569.2		10.1		579.3
Interest income						1.5
Interest expense						(50.3	)

Income before income taxes						530.5
Capital expenditures		33.7		0.9		34.6


*(in millions)*	PBM		EM		Total

For the three months ended June 30, 2010
Product revenue:
Network revenues⁽¹⁾	$	7,590.6	$	—	$	7,590.6
Home delivery and specialty revenues⁽²⁾		3,295.2		—		3,295.2
Other revenues		—		334.2		334.2
Service revenues		65.8		3.0		68.8

Total revenues		10,951.6		337.2		11,288.8
Depreciation and amortization expense		58.5		2.0		60.5
Operating income		525.4		4.9		530.3
Interest income						0.5
Interest expense						(42.0	)

Income before income taxes						488.8
Capital expenditures		16.3		1.1		17.4

For the six months ended June 30, 2011
Product revenues:
Network revenues⁽¹⁾	$	14,647.1	$	—	$	14,647.1
Home delivery and specialty revenues⁽²⁾		6,925.7		—		6,925.7
Other revenues		—		733.1		733.1
Service revenues		139.4		10.6		150.0

Total revenues		21,712.2		743.7		22,455.9
Depreciation and amortization expense		122.0		4.2		126.2
Operating income		1,113.3		18.4		1,131.7
Interest income						1.9
Interest expense						(90.0	)

Income before income taxes						1,043.6
Capital expenditures		52.8		1.3		54.1

For the six months ended June 30, 2010
Product revenue:
Network revenues⁽¹⁾	$	15,105.5	$	—	$	15,105.5
Home delivery and specialty revenues⁽²⁾		6,525.8		—		6,525.8
Other revenues		—		658.2		658.2
Service revenues		131.7		6.0		137.7

Total revenues		21,763.0		664.2		22,427.2
Depreciation and amortization expense		115.2		4.0		119.2
Operating income		976.0		9.0		985.0
Interest income						2.2
Interest expense						(84.8	)

Income before income taxes						902.4
Capital expenditures		49.8		1.3		51.1


(1)		Includes retail pharmacy co-payments of $1,457.1 million and $1,547.3 million for the three months ended June 30, 2011 and 2010, respectively and $2,983.6 million and $3,209.9 million for the six months ended June 30, 2011 and 2010, respectively.

(2)		Includes home delivery, specialty and other including: (a) drugs distributed through patient assistance programs and (b) drugs we distribute to other PBMs’ clients under limited distribution contracts with pharmaceutical manufacturers.

Segments Reporting Information, Assets


(in millions)	PBM		EM		Total

Total Assets
As of June 30, 2011	$	9,709.1	$	528.8	$	10,237.9

As of December 31, 2010	$	10,078.4	$	479.4	$	10,557.8

Segment Information percentage of revenue by top clients


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010

WellPoint		29.9	%		28.6	%		29.6	%		28.4	%
Department of Defense (“DoD”)		21.7	%		19.1	%		21.7	%		18.9	%
Other		6.3	%		6.4	%		6.2	%		6.2	%

Top five clients		57.9	%		54.1	%		57.5	%		53.5	%

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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