Guarantor (Tables)

3 Months Ended

Mar. 31, 2013

Condensed Consolidating Financial Information

Condensed Balance Sheet

Consolidating Balance Sheet - March 31, 2013 (Dollars in thousands)
						Guarantor		Non-Guarantor		Consolidating		Total
				Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Assets
Current assets:
	Cash and cash equivalents			$	4,763	$	-	$	37,650	$	-	$	42,413
	Accounts receivable, net				-		-		101,503		-		101,503
	Supplies inventory				-		-		18,106		-		18,106
	Deferred income taxes				978		-		-		-		978
	Prepaid and other current assets				23,249		-		11,838		(4,945)		30,142
		Total current assets			28,990		-		169,097		(4,945)		193,142
Property and equipment, net					9,266		-		153,923		-		163,189
Investments in unconsolidated affiliates and long-term notes receivable					1,414,727		1,383,795		-		(2,781,646)		16,876
Goodwill and other intangible assets, net					20,837		-		1,148		1,647,180		1,669,165
			Total assets	$	1,473,820	$	1,383,795	$	324,168	$	(1,139,411)	$	2,042,372
Liabilities and Equity
Current liabilities:
	Current portion of long-term debt			$	8,629	$	-	$	11,313	$	-	$	19,942
	Accounts payable				1,024		-		22,853		(4,133)		19,744
	Other accrued liabilities				23,820		-		15,239		(811)		38,248
		Total current liabilities			33,473		-		49,405		(4,944)		77,934
Long-term debt					583,571		-		50,770		(30,932)		603,409
Deferred income taxes					147,125		-		-		-		147,125
Other long-term liabilities					10,687		-		15,990		-		26,677
Noncontrolling interests – redeemable					-		-		62,250		113,459		175,709
Equity:
		Total AmSurg Corp. equity			698,964		1,383,795		110,054		(1,493,849)		698,964
		Noncontrolling interests – non-redeemable			-		-		35,699		276,855		312,554
		Total equity			698,964		1,383,795		145,753		(1,216,994)		1,011,518
			Total liabilities and equity	$	1,473,820	$	1,383,795	$	324,168	$	(1,139,411)	$	2,042,372

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

Condensed Income Statement

Consolidating Statement of Earnings and Comprehensive Income - For the Three Months Ended March 31, 2013 (In thousands)
							Guarantor		Non-Guarantor		Consolidating		Total
					Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Revenues					$	5,380	$	-	$	258,919	$	(4,238)	$	260,061
Operating expenses:
	Salaries and benefits					15,421		-		66,273		(113)		81,581
	Supply cost					-		-		37,644		-		37,644
	Other operating expenses					5,060		-		52,326		(4,125)		53,261
	Depreciation and amortization					772		-		7,310		-		8,082
		Total operating expenses				21,253		-		163,553		(4,238)		180,568
Gain on deconsolidation						2,237		2,237		-		(2,237)		2,237
Equity in earnings of unconsolidated affiliates						50,291		50,291		-		(100,180)		402
		Operating income				36,655		52,528		95,366		(102,417)		82,132
Interest expense						6,923		-		621		-		7,544
	Earnings from continuing operations before income taxes					29,732		52,528		94,745		(102,417)		74,588
Income tax expense						11,921		-		394		-		12,315
	Net earnings from continuing operations					17,811		52,528		94,351		(102,417)		62,273
	Net earnings from discontinued operations					-		-		-		-		-
		Net earnings and comprehensive income				17,811		52,528		94,351		(102,417)		62,273
Less net earnings attributable to noncontrolling interests:
	Net earnings from continuing operations					-		-		44,462		-		44,462
	Net earnings from discontinued operations					-		-		-		-		-
		Total net earnings attributable to noncontrolling interests				-		-		44,462		-		44,462
			Net earnings and comprehensive income attributable
				to AmSurg Corp. common shareholders	$	17,811	$	52,528	$	49,889	$	(102,417)	$	17,811
Amounts attributable to AmSurg Corp. common shareholders:
	Earnings from continuing operations, net of income tax				$	17,811	$	52,528	$	49,889	$	(102,417)	$	17,811
	Discontinued operations, net of income tax					-		-		-		-		-
			Net earnings and comprehensive income attributable
				to AmSurg Corp. common shareholders	$	17,811	$	52,528	$	49,889	$	(102,417)	$	17,811

Consolidating Statement of Earnings and Comprehensive Income - For the Three Months Ended March 31, 2012 (In thousands)
							Guarantor		Non-Guarantor		Consolidating		Total
					Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Revenues					$	5,145	$	-	$	227,232	$	(3,478)	$	228,899
Operating expenses:
	Salaries and benefits					14,154		-		58,048		(87)		72,115
	Supply cost					-		-		32,097		-		32,097
	Other operating expenses					4,741		-		45,782		(3,391)		47,132
	Depreciation and amortization					657		-		6,684		-		7,341
		Total operating expenses				19,552		-		142,611		(3,478)		158,685
Equity in earnings of unconsolidated affiliates						44,243		44,243		-		(88,091)		395
		Operating income				29,836		44,243		84,621		(88,091)		70,609
Interest expense						3,709		-		558		-		4,267
	Earnings from continuing operations before income taxes					26,127		44,243		84,063		(88,091)		66,342
Income tax expense						10,396		-		420		-		10,816
	Net earnings from continuing operations					15,731		44,243		83,643		(88,091)		55,526
	Net earnings from discontinued operations					(955)		-		368		-		(587)
		Net earnings and comprehensive income				14,776		44,243		84,011		(88,091)		54,939
Less net earnings attributable to noncontrolling interests:
	Net earnings from continuing operations					-		-		39,972		-		39,972
	Net earnings from discontinued operations					-		-		191		-		191
		Total net earnings attributable to noncontrolling interests				-		-		40,163		-		40,163
			Net earnings and comprehensive income attributable to
				AmSurg Corp. common shareholders	$	14,776	$	44,243	$	43,848	$	(88,091)	$	14,776
Amounts attributable to AmSurg Corp. common shareholders:
	Earnings from continuing operations, net of income tax				$	15,731	$	44,243	$	43,671	$	(88,091)	$	15,554
	Discontinued operations, net of income tax					(955)		-		177		-		(778)
			Net earnings and comprehensive income attributable to
				AmSurg Corp. common shareholders	$	14,776	$	44,243	$	43,848	$	(88,091)	$	14,776

Condensed Cash Flow Statement

Consolidating Statement of Cash Flows - For the Three Months Ended March 31, 2013 (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	$	23,940	$	49,577	$	99,411	$	(99,063)	$	73,865
Cash flows from investing activities:
	Acquisition of interests in surgery centers and related transactions			-		(242)		-		(10)		(252)
	Acquisition of property and equipment			(853)		-		(5,257)		-		(6,110)
		Net cash flows used in investing activities		(853)		(242)		(5,257)		(10)		(6,362)
Cash flows from financing activities:
	Proceeds from long-term borrowings			29,700		-		1,170		-		30,870
	Repayment on long-term borrowings			(45,024)		-		(3,187)		-		(48,211)
	Distributions to owners, including noncontrolling interests			-		(49,486)		(93,491)		99,063		(43,914)
	Changes in intercompany balances with affiliates, net			533		-		(533)		-		-
	Other financing activities, net			(10,792)		151		398		10		(10,233)
		Net cash flows provided by (used in) financing activities		(25,583)		(49,335)		(95,643)		99,073		(71,488)
Net increase (decrease) in cash and cash equivalents				(2,496)		-		(1,489)		-		(3,985)
Cash and cash equivalents, beginning of period				7,259		-		39,139		-		46,398
Cash and cash equivalents, end of period			$	4,763	$	-	$	37,650	$	-	$	42,413

Consolidating Statement of Cash Flows - For the Three Months Ended March 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	$	10,211	$	43,158	$	92,976	$	(77,200)	$	69,145
Cash flows from investing activities:
	Acquisition of interests in surgery centers and related transactions			-		(9,925)		-		68		(9,857)
	Acquisition of property and equipment			(751)		-		(5,295)		-		(6,046)
		Net cash flows used in investing activities		(751)		(9,925)		(5,295)		68		(15,903)
Cash flows from financing activities:
	Proceeds from long-term borrowings			19,600		-		-		-		19,600
	Repayment on long-term borrowings			(28,100)		-		(2,777)		-		(30,877)
	Distributions to owners, including noncontrolling interests			-		(34,042)		(82,167)		77,200		(39,009)
	Changes in intercompany balances with affiliates, net			(460)		-		460		-		-
	Other financing activities, net			(223)		809		128		(68)		646
		Net cash flows provided by (used in) financing activities		(9,183)		(33,233)		(84,356)		77,132		(49,640)
Net increase (decrease) in cash and cash equivalents				277		-		3,325		-		3,602
Cash and cash equivalents, beginning of period				8,530		-		32,188		-		40,718
Cash and cash equivalents, end of period			$	8,807	$	-	$	35,513	$	-	$	44,320