Guarantor

12 Months Ended

Dec. 31, 2012

Condensed Consolidating Financial Information

Condensed Consolidating Financial Information

16.Financial Information for the Company and Its Subsidiaries

In 2012, the Company issued theSenior Unsecured Notes in the aggregate principal amount of $250,000,000. The Senior Unsecured Notes are senior unsecured obligations of the Company and are guaranteed by the Company and certain of its existing and subsequently acquired or organized wholly owned domestic subsidiaries. The Senior Unsecured Notes are guaranteed on a full and unconditional and joint and several basis, with limited exceptions considered customary for such guarantees, including the release of the guarantee when a subsidiary's assets are sold. The following condensed consolidating financial statements present the Company (as parent issuer), the subsidiary guarantors, the subsidiary non-guarantors andconsolidating adjustments. These condensed consolidating financial statements have been prepared and presented in accordance with SEC Regulation S-X Rule 3-10 "Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered."The operating and investing activities of the separate legal entities are fully interdependent and integrated. Accordingly, the results of the separate legal entities are not representative of what the operating results would be on a stand-alone basis.

Consolidating Balance Sheet - December 31, 2012 (Dollars in thousands)
						Guarantor		Non-Guarantor		Consolidating		Total
				Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Assets
Current assets:
	Cash and cash equivalents			$	7,259	$	-	$	39,139	$	-	$	46,398
	Accounts receivable, net				-		-		96,752		-		96,752
	Supplies inventory				-		-		18,406		-		18,406
	Deferred income taxes				3,088		-		-		-		3,088
	Prepaid and other current assets				19,342		-		13,160		(4,965)		27,537
		Total current assets			29,689		-		167,457		(4,965)		192,181
Property and equipment, net					9,199		-		157,413		-		166,612
Investments in unconsolidated affiliates and long-term notes receivable					1,413,061		1,381,596		-		(2,783,383)		11,274
Goodwill and other intangible assets, net					21,311		-		1,206		1,652,002		1,674,519
			Total assets	$	1,473,260	$	1,381,596	$	326,076	$	(1,136,346)	$	2,044,586
Liabilities and Equity
Current liabilities:
	Current portion of long-term debt			$	5,357	$	-	$	12,050	$	-	$	17,407
	Accounts payable				1,379		-		26,035		(3,905)		23,509
	Other accrued liabilities				29,380		-		15,177		(1,060)		43,497
		Total current liabilities			36,116		-		53,262		(4,965)		84,413
Long-term debt					599,423		-		52,747		(31,465)		620,705
Deferred income taxes					137,648		-		-		-		137,648
Other long-term liabilities					10,585		-		15,387		-		25,972
Noncontrolling interests – redeemable					-		-		61,939		113,443		175,382
Equity:
		Total AmSurg Corp. equity			689,488		1,381,596		108,412		(1,490,008)		689,488
		Noncontrolling interests – non-redeemable			-		-		34,329		276,649		310,978
		Total equity			689,488		1,381,596		142,741		(1,213,359)		1,000,466
			Total liabilities and equity	$	1,473,260	$	1,381,596	$	326,076	$	(1,136,346)	$	2,044,586

Consolidating Balance Sheet - December 31, 2011 (Dollars in thousands)
						Guarantor		Non-Guarantor		Consolidating		Total
				Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Assets
Current assets:
	Cash and cash equivalents			$	8,530	$	-	$	32,188	$	-	$	40,718
	Accounts receivable, net				-		-		93,454		-		93,454
	Supplies inventory				-		-		15,039		-		15,039
	Deferred income taxes				2,129		-		-		-		2,129
	Prepaid and other current assets				13,339		-		11,286		(2,750)		21,875
		Total current assets			23,998		-		151,967		(2,750)		173,215
Property and equipment, net					8,574		-		135,984		-		144,558
Investments in unconsolidated affiliates and long-term notes receivable					1,145,683		1,113,430		-		(2,248,591)		10,522
Goodwill and other intangible assets, net					13,989		-		1,436		1,229,298		1,244,723
			Total assets	$	1,192,244	$	1,113,430	$	289,387	$	(1,022,043)	$	1,573,018
Liabilities and Equity
Current liabilities:
	Current portion of long-term debt			$	-	$	-	$	10,800	$	-	$	10,800
	Accounts payable				2,347		-		21,489		(2,294)		21,542
	Other accrued liabilities				19,485		-		12,283		(456)		31,312
		Total current liabilities			21,832		-		44,572		(2,750)		63,654
Long-term debt					426,000		-		50,762		(28,799)		447,963
Deferred income taxes					114,167		-		-		-		114,167
Other long-term liabilities					14,000		-		14,131		-		28,131
Noncontrolling interests – redeemable					-		-		64,150		106,486		170,636
Equity:
		Total AmSurg Corp. equity			616,245		1,113,430		95,081		(1,208,511)		616,245
		Noncontrolling interests – non-redeemable			-		-		20,691		111,531		132,222
		Total equity			616,245		1,113,430		115,772		(1,096,980)		748,467
			Total liabilities and equity	$	1,192,244	$	1,113,430	$	289,387	$	(1,022,043)	$	1,573,018

Consolidating Statement of Earnings - Year Ended December 31, 2012 (In thousands)
							Guarantor		Non-Guarantor		Consolidating		Total
					Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Revenues					$	19,907	$	-	$	923,503	$	(14,901)	$	928,509
Operating expenses:
	Salaries and benefits					54,895		-		237,268		(450)		291,713
	Supply cost					-		-		132,044		-		132,044
	Other operating expenses					20,499		-		188,245		(14,451)		194,293
	Depreciation and amortization					2,860		-		27,218		-		30,078
		Total operating expenses				78,254		-		584,775		(14,901)		648,128
Equity in earnings of unconsolidated affiliates						178,137		178,137		-		(354,710)		1,564
		Operating income				119,790		178,137		338,728		(354,710)		281,945
Interest expense						14,803		-		2,169		-		16,972
	Earnings from continuing operations before income taxes					104,987		178,137		336,559		(354,710)		264,973
Income tax expense						41,059		-		1,568		-		42,627
	Net earnings from continuing operations					63,928		178,137		334,991		(354,710)		222,346
	Net earnings from discontinued operations					(1,365)		-		2,662		-		1,297
		Net earnings				62,563		178,137		337,653		(354,710)		223,643
Less net earnings attributable to noncontrolling interests:
	Net earnings from continuing operations					-		-		159,761		-		159,761
	Net earnings from discontinued operations					-		-		1,319		-		1,319
		Total net earnings attributable to noncontrolling interests				-		-		161,080		-		161,080
			Net earnings attributable to AmSurg Corp. common shareholders		$	62,563	$	178,137	$	176,573	$	(354,710)	$	62,563
Amounts attributable to AmSurg Corp. common shareholders:
	Earnings from continuing operations, net of income tax				$	63,928	$	178,137	$	175,230	$	(354,710)	$	62,585
	Discontinued operations, net of income tax					(1,365)		-		1,343		-		(22)
			Net earnings attributable to AmSurg Corp. common shareholders		$	62,563	$	178,137	$	176,573	$	(354,710)	$	62,563
Net earnings and comprehensive income, net of tax					$	62,563	$	178,137	$	337,653	$	(354,710)	$	223,643
	Less comprehensive income attributable to noncontrolling interests					-		-		161,080		-		161,080
		Comprehensive income attributable to AmSurg Corp.
				common shareholders	$	62,563	$	178,137	$	176,573	$	(354,710)	$	62,563

Consolidating Statement of Earnings - Year Ended December 31, 2011 (In thousands)
							Guarantor		Non-Guarantor		Consolidating		Total
					Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Revenues					$	11,253	$	-	$	774,335	$	(8,001)	$	777,587
Operating expenses:
	Salaries and benefits					42,739		-		198,006		(359)		240,386
	Supply cost					-		-		102,356		-		102,356
	Other operating expenses					19,468		-		157,904		(7,642)		169,730
	Depreciation and amortization					2,487		-		23,385		-		25,872
		Total operating expenses				64,694		-		481,651		(8,001)		538,344
Equity in earnings of unconsolidated affiliates						152,409		152,409		-		(304,205)		613
		Operating income				98,968		152,409		292,684		(304,205)		239,856
Interest expense						13,195		-		2,135		-		15,330
	Earnings from continuing operations before income taxes					85,773		152,409		290,549		(304,205)		224,526
Income tax expense						34,072		-		1,182		-		35,254
	Net earnings from continuing operations					51,701		152,409		289,367		(304,205)		189,272
	Net earnings from discontinued operations					(1,704)		-		2,546		-		842
		Net earnings				49,997		152,409		291,913		(304,205)		190,114
Less net earnings attributable to noncontrolling interests:
	Net earnings from continuing operations					-		-		138,878		-		138,878
	Net earnings from discontinued operations					-		-		1,239		-		1,239
		Total net earnings attributable to noncontrolling interests				-		-		140,117		-		140,117
			Net earnings attributable to AmSurg Corp. common shareholders		$	49,997	$	152,409	$	151,796	$	(304,205)	$	49,997
Amounts attributable to AmSurg Corp. common shareholders:
	Earnings from continuing operations, net of income tax				$	51,701	$	152,409	$	150,489	$	(304,205)	$	50,394
	Discontinued operations, net of income tax					(1,704)		-		1,307		-		(397)
			Net earnings attributable to AmSurg Corp. common shareholders		$	49,997	$	152,409	$	151,796	$	(304,205)	$	49,997
Net earnings					$	49,997	$	152,409	$	291,913	$	(304,205)	$	190,114
Other comprehensive income, net of income tax:
	Unrealized gain on interest rate swap, net of income tax					515		-		-		-		515
		Comprehensive income, net of income tax				50,512		152,409		291,913		(304,205)		190,629
	Less comprehensive income attributable to noncontrolling interests					-		-		140,117		-		140,117
		Comprehensive income attributable to AmSurg Corp.
				common shareholders	$	50,512	$	152,409	$	151,796	$	(304,205)	$	50,512

Consolidating Statement of Earnings - Year Ended December 31, 2010 (In thousands)
							Guarantor		Non-Guarantor		Consolidating		Total
					Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Revenues					$	6,267	$	-	$	690,492	$	(4,188)	$	692,571
Operating expenses:
	Salaries and benefits					34,872		-		174,527		(337)		209,062
	Supply cost					-		-		89,863		-		89,863
	Other operating expenses					13,502		-		136,149		(3,851)		145,800
	Depreciation and amortization					2,108		-		22,557		-		24,665
		Total operating expenses				50,482		-		423,096		(4,188)		469,390
Equity in earnings of unconsolidated affiliates						141,456		141,456		-		(282,912)		-
		Operating income				97,241		141,456		267,396		(282,912)		223,181
Interest expense						11,269		-		2,207		-		13,476
	Earnings from continuing operations before income taxes					85,972		141,456		265,189		(282,912)		209,705
Income tax expense						31,783		-		1,208		-		32,991
	Net earnings from continuing operations					54,189		141,456		263,981		(282,912)		176,714
	Net earnings from discontinued operations					(4,364)		-		8,146		-		3,782
		Net earnings				49,825		141,456		272,127		(282,912)		180,496
Less net earnings attributable to noncontrolling interests:
	Net earnings from continuing operations					-		-		126,716		-		126,716
	Net earnings from discontinued operations					-		-		3,955		-		3,955
		Total net earnings attributable to noncontrolling interests				-		-		130,671		-		130,671
			Net earnings attributable to AmSurg Corp. common shareholders		$	49,825	$	141,456	$	141,456	$	(282,912)	$	49,825
Amounts attributable to AmSurg Corp. common shareholders:
	Earnings from continuing operations, net of income tax				$	54,189	$	141,456	$	137,265	$	(282,912)	$	49,998
	Discontinued operations, net of income tax					(4,364)		-		4,191		-		(173)
			Net earnings attributable to AmSurg Corp. common shareholders		$	49,825	$	141,456	$	141,456	$	(282,912)	$	49,825
Net earnings					$	49,825	$	141,456	$	272,127	$	(282,912)	$	180,496
Other comprehensive income, net of income tax:
	Unrealized gain on interest rate swap, net of income tax					1,334		-		-		-		1,334
		Comprehensive income, net of income tax				51,159		141,456		272,127		(282,912)		181,830
	Less comprehensive income attributable to noncontrolling interests					-		-		130,671		-		130,671
		Comprehensive income attributable to AmSurg Corp.
				common shareholders	$	51,159	$	141,456	$	141,456	$	(282,912)	$	51,159

Consolidating Statement of Cash Flows - Year Ended December 31, 2012 (In thousands)
			Parent		Guarantor		Non-Guarantor		Consolidating		Total
			Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Cash flows from operating activities:
		Net cash flows provided by (used in) operating activities	$	(83,605)	$	182,851	$	379,257	$	(182,851)	$	295,652
Cash flows from investing activities:
	Acquisition of interests in surgery centers and related transactions			(90,029)		(280,189)		-		92,830		(277,388)
	Acquisition of property and equipment			(3,681)		-		(25,183)		-		(28,864)
	Proceeds from sale of interests in surgery centers			-		7,309		-		-		7,309
		Net cash flows used in investing activities		(93,710)		(272,880)		(25,183)		92,830		(298,943)
Cash flows from financing activities:
	Proceeds from long-term borrowings			560,000		-		5,566		-		565,566
	Repayment on long-term borrowings			(381,220)		-		(12,944)		-		(394,164)
	Distributions to owners, including noncontrolling interests			-		-		(345,792)		182,851		(162,941)
	Capital contributions			-		90,029		-		(90,029)		-
	Changes in intercompany balances with affiliates, net			(2,666)		-		2,666		-		-
	Other financing activities, net			(70)		-		3,381		(2,801)		510
		Net cash flows provided by (used in) financing activities		176,044		90,029		(347,123)		90,021		8,971
Net increase (decrease) in cash and cash equivalents				(1,271)		-		6,951		-		5,680
Cash and cash equivalents, beginning of year				8,530		-		32,188		-		40,718
Cash and cash equivalents, end of year			$	7,259	$	-	$	39,139	$	-	$	46,398

Consolidating Statement of Cash Flows - Year Ended December 31, 2011 (In thousands)
			Parent		Guarantor		Non-Guarantor		Consolidating		Total
			Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Cash flows from operating activities:
		Net cash flows provided by (used in) operating activities	$	(67,911)	$	151,558	$	311,334	$	(151,558)	$	243,423
Cash flows from investing activities:
	Acquisition of interests in surgery centers and related transactions			(84,597)		(243,429)		-		88,803		(239,223)
	Acquisition of property and equipment			(2,858)		-		(19,312)		-		(22,170)
	Proceeds from sale of interests in surgery centers			-		7,274		(248)		-		7,026
		Net cash flows used in investing activities		(87,455)		(236,155)		(19,560)		88,803		(254,367)
Cash flows from financing activities:
	Proceeds from long-term borrowings			281,100		-		7,769		-		288,869
	Repayment on long-term borrowings			(118,100)		-		(11,007)		-		(129,107)
	Distributions to owners, including noncontrolling interests			-		-		(290,282)		151,558		(138,724)
	Capital contributions			-		84,597		-		(84,597)		-
	Changes in intercompany balances with affiliates, net			(178)		-		178		-		-
	Other financing activities, net			(3,609)		-		4,292		(4,206)		(3,523)
		Net cash flows provided by (used in) financing activities		159,213		84,597		(289,050)		62,755		17,515
Net increase in cash and cash equivalents				3,847		-		2,724		-		6,571
Cash and cash equivalents, beginning of year				4,683		-		29,464		-		34,147
Cash and cash equivalents, end of year			$	8,530	$	-	$	32,188	$	-	$	40,718

Consolidating Statement of Cash Flows - Year Ended December 31, 2010 (In thousands)
			Parent		Guarantor		Non-Guarantor		Consolidating		Total
			Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Cash flows from operating activities:
		Net cash flows provided by operating activities	$	20,905	$	143,049	$	298,359	$	(231,738)	$	230,575
Cash flows from investing activities:
	Acquisition of interests in surgery centers and related transactions			-		(54,420)		-		730		(53,690)
	Acquisition of property and equipment			(2,138)		-		(17,137)		-		(19,275)
	Proceeds from sale of interests in surgery centers			-		60		-		-		60
		Net cash flows used in investing activities		(2,138)		(54,360)		(17,137)		730		(72,905)
Cash flows from financing activities:
	Proceeds from long-term borrowings			173,800		-		2,819		-		176,619
	Repayment on long-term borrowings			(187,100)		-		(8,860)		-		(195,960)
	Distributions to owners, including noncontrolling interests			-		(88,689)		(275,159)		231,738		(132,110)
	Changes in intercompany balances with affiliates, net			(799)		-		799		-		-
	Other financing activities, net			(1,573)		-		854		(730)		(1,449)
		Net cash flows used in financing activities		(15,672)		(88,689)		(279,547)		231,008		(152,900)
Net increase in cash and cash equivalents				3,095		-		1,675		-		4,770
Cash and cash equivalents, beginning of year				1,588		-		27,789		-		29,377
Cash and cash equivalents, end of year			$	4,683	$	-	$	29,464	$	-	$	34,147