Guarantor (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Consolidating Financial Information

Condensed Balance Sheet

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

Condensed Income Statement

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

Condensed Cash Flow Statement

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