Guarantor (Tables)

6 Months Ended

Jun. 30, 2013

Condensed Consolidating Financial Information

Condensed Balance Sheet

Consolidating Balance Sheet - June 30, 2013 (Dollars in thousands)
						Guarantor		Non-Guarantor		Consolidating		Total
				Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Assets
Current assets:
	Cash and cash equivalents			$	4,795	$	-	$	35,128	$	-	$	39,923
	Accounts receivable, net				-		-		105,305		-		105,305
	Supplies inventory				-		-		18,253		-		18,253
	Deferred income taxes				3,773		-		-		-		3,773
	Prepaid and other current assets				22,825		-		11,148		(4,640)		29,333
		Total current assets			31,393		-		169,834		(4,640)		196,587
Property and equipment, net					8,842		-		154,539		-		163,381
Investments in unconsolidated affiliates and long-term notes receivable					1,430,651		1,400,617		-		(2,814,351)		16,917
Goodwill and other intangible assets, net					21,496		-		1,092		1,675,235		1,697,823
			Total assets	$	1,492,382	$	1,400,617	$	325,465	$	(1,143,756)	$	2,074,708
Liabilities and Equity
Current liabilities:
	Current portion of long-term debt			$	10,714	$	-	$	10,960	$	-	$	21,674
	Accounts payable				1,074		-		24,434		(4,576)		20,932
	Accrued liabilities				20,969		-		14,977		(63)		35,883
		Total current liabilities			32,757		-		50,371		(4,639)		78,489
Long-term debt					574,286		-		50,110		(30,034)		594,362
Deferred income taxes					155,904		-		-		-		155,904
Other long-term liabilities					10,769		-		16,619		-		27,388
Noncontrolling interests – redeemable					-		-		61,263		113,837		175,100
Equity:
		Total AmSurg Corp. equity			718,666		1,400,617		110,210		(1,510,827)		718,666
		Noncontrolling interests – non-redeemable			-		-		36,892		287,907		324,799
		Total equity			718,666		1,400,617		147,102		(1,222,920)		1,043,465
			Total liabilities and equity	$	1,492,382	$	1,400,617	$	325,465	$	(1,143,756)	$	2,074,708

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
	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 June 30, 2013 (In thousands)
							Guarantor		Non-Guarantor		Consolidating		Total
					Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Revenues					$	5,796	$	-	$	267,899	$	(4,353)	$	269,342
Operating expenses:
	Salaries and benefits					14,431		-		67,405		(117)		81,719
	Supply cost					-		-		39,516		-		39,516
	Other operating expenses					5,171		-		53,515		(4,236)		54,450
	Depreciation and amortization					760		-		7,427		-		8,187
		Total operating expenses				20,362		-		167,863		(4,353)		183,872
Gain on deconsolidation						-		-		-		-		-
Equity in earnings of unconsolidated affiliates						52,590		52,590		-		(104,484)		696
		Operating income				38,024		52,590		100,036		(104,484)		86,166
Interest expense						7,026		-		487		-		7,513
	Earnings from continuing operations before income taxes					30,998		52,590		99,549		(104,484)		78,653
Income tax expense						12,435		-		382		-		12,817
	Net earnings from continuing operations					18,563		52,590		99,167		(104,484)		65,836
	Net earnings from discontinued operations					-		-		-		-		-
		Net earnings and comprehensive income				18,563		52,590		99,167		(104,484)		65,836
Less net earnings attributable to noncontrolling interests:
	Net earnings from continuing operations					-		-		47,273		-		47,273
	Net earnings from discontinued operations					-		-		-		-		-
		Total net earnings attributable to noncontrolling interests				-		-		47,273		-		47,273
			Net earnings and comprehensive income attributable
				to AmSurg Corp. common shareholders	$	18,563	$	52,590	$	51,894	$	(104,484)	$	18,563
Amounts attributable to AmSurg Corp. common shareholders:
	Earnings from continuing operations, net of income tax				$	18,563	$	52,590	$	51,894	$	(104,484)	$	18,563
	Discontinued operations, net of income tax					-		-		-		-		-
			Net earnings and comprehensive income attributable
				to AmSurg Corp. common shareholders	$	18,563	$	52,590	$	51,894	$	(104,484)	$	18,563

Consolidating Statement of Earnings and Comprehensive Income - For the Six Months Ended June 30, 2013 (In thousands)
							Guarantor		Non-Guarantor		Consolidating		Total
					Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Revenues					$	11,176	$	-	$	526,818	$	(8,591)	$	529,403
Operating expenses:
	Salaries and benefits					29,852		-		133,678		(230)		163,300
	Supply cost					-		-		77,160		-		77,160
	Other operating expenses					10,231		-		105,841		(8,361)		107,711
	Depreciation and amortization					1,532		-		14,737		-		16,269
		Total operating expenses				41,615		-		331,416		(8,591)		364,440
Gain on deconsolidation						2,237		2,237		-		(2,237)		2,237
Equity in earnings of unconsolidated affiliates						102,881		102,881		-		(204,664)		1,098
		Operating income				74,679		105,118		195,402		(206,901)		168,298
Interest expense						13,949		-		1,108		-		15,057
	Earnings from continuing operations before income taxes					60,730		105,118		194,294		(206,901)		153,241
Income tax expense						24,356		-		776		-		25,132
	Net earnings from continuing operations					36,374		105,118		193,518		(206,901)		128,109
	Net earnings from discontinued operations					-		-		-		-		-
		Net earnings				36,374		105,118		193,518		(206,901)		128,109
Less net earnings attributable to noncontrolling interests:
	Net earnings from continuing operations					-		-		91,735		-		91,735
	Net earnings from discontinued operations					-		-		-		-		-
		Total net earnings attributable to noncontrolling interests				-		-		91,735		-		91,735
			Net earnings and comprehensive income attributable
				to AmSurg Corp. common shareholders	$	36,374	$	105,118	$	101,783	$	(206,901)	$	36,374
Amounts attributable to AmSurg Corp. common shareholders:
	Earnings from continuing operations, net of income tax				$	36,374	$	105,118	$	101,783	$	(206,901)	$	36,374
	Discontinued operations, net of income tax					-		-		-		-		-
			Net earnings and comprehensive income attributable
				to AmSurg Corp. common shareholders	$	36,374	$	105,118	$	101,783	$	(206,901)	$	36,374

Consolidating Statement of Earnings and Comprehensive Income - For the Three Months Ended June 30, 2012 (In thousands)
							Guarantor		Non-Guarantor		Consolidating		Total
					Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Revenues					$	4,500	$	-	$	229,635	$	(3,809)	$	230,326
Operating expenses:
	Salaries and benefits					12,445		-		58,245		(86)		70,604
	Supply cost					-		-		33,029		-		33,029
	Other operating expenses					5,118		-		47,003		(3,723)		48,398
	Depreciation and amortization					688		-		6,741		-		7,429
		Total operating expenses				18,251		-		145,018		(3,809)		159,460
Gain on deconsolidation						-		-		-		-		-
Equity in earnings of unconsolidated affiliates						44,336		44,336		-		(88,356)		316
		Operating income				30,585		44,336		84,617		(88,356)		71,182
Interest expense						3,573		-		585		-		4,158
	Earnings from continuing operations before income taxes					27,012		44,336		84,032		(88,356)		67,024
Income tax expense						10,737		-		425		-		11,162
	Net earnings from continuing operations					16,275		44,336		83,607		(88,356)		55,862
	Net earnings (loss) from discontinued operations					(739)		-		422		-		(317)
		Net earnings and comprehensive income				15,536		44,336		84,029		(88,356)		55,545
Less net earnings attributable to noncontrolling interests:
	Net earnings from continuing operations					-		-		39,802		-		39,802
	Net earnings from discontinued operations					-		-		207		-		207
		Total net earnings attributable to noncontrolling interests				-		-		40,009		-		40,009
			Net earnings and comprehensive income attributable
				to AmSurg Corp. common shareholders	$	15,536	$	44,336	$	44,020	$	(88,356)	$	15,536
Amounts attributable to AmSurg Corp. common shareholders:
	Earnings from continuing operations, net of income tax				$	16,275	$	44,336	$	43,805	$	(88,356)	$	16,060
	Discontinued operations, net of income tax					(739)		-		215		-		(524)
			Net earnings and comprehensive income attributable
				to AmSurg Corp. common shareholders	$	15,536	$	44,336	$	44,020	$	(88,356)	$	15,536

Consolidating Statement of Earnings and Comprehensive Income - For the Six Months Ended June 30, 2012 (In thousands)
							Guarantor		Non-Guarantor		Consolidating		Total
					Parent Issuer		Subsidiaries		Subsidiaries		Adjustments		Consolidated
Revenues					$	9,645	$	-	$	456,867	$	(7,287)	$	459,225
Operating expenses:
	Salaries and benefits					26,599		-		116,293		(173)		142,719
	Supply cost					-		-		65,126		-		65,126
	Other operating expenses					9,859		-		92,785		(7,114)		95,530
	Depreciation and amortization					1,345		-		13,425		-		14,770
		Total operating expenses				37,803		-		287,629		(7,287)		318,145
Gain on deconsolidation						-		-		-		-		-
Equity in earnings of unconsolidated affiliates						88,579		88,579		-		(176,447)		711
		Operating income				60,421		88,579		169,238		(176,447)		141,791
Interest expense						7,282		-		1,143		-		8,425
	Earnings from continuing operations before income taxes					53,139		88,579		168,095		(176,447)		133,366
Income tax expense						21,133		-		845		-		21,978
	Net earnings from continuing operations					32,006		88,579		167,250		(176,447)		111,388
	Net earnings (loss) from discontinued operations					(1,694)		-		790		-		(904)
		Net earnings				30,312		88,579		168,040		(176,447)		110,484
Less net earnings attributable to noncontrolling interests:
	Net earnings from continuing operations					-		-		79,774		-		79,774
	Net earnings from discontinued operations					-		-		398		-		398
		Total net earnings attributable to noncontrolling interests				-		-		80,172		-		80,172
			Net earnings and comprehensive income attributable
				to AmSurg Corp. common shareholders	$	30,312	$	88,579	$	87,868	$	(176,447)	$	30,312
Amounts attributable to AmSurg Corp. common shareholders:
	Earnings from continuing operations, net of income tax				$	32,006	$	88,579	$	87,476	$	(176,447)	$	31,614
	Discontinued operations, net of income tax					(1,694)		-		392		-		(1,302)
			Net earnings and comprehensive income attributable
				to AmSurg Corp. common shareholders	$	30,312	$	88,579	$	87,868	$	(176,447)	$	30,312

Condensed Cash Flow Statement

Consolidating Statement of Cash Flows - For the Six Months Ended June 30, 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	$	32,189	$	102,630	$	205,224	$	(187,493)	$	152,550
Cash flows from investing activities:
	Acquisition of interests in surgery centers and related transactions			-		(18,424)		-		78		(18,346)
	Acquisition of property and equipment			(1,189)		-		(11,283)		-		(12,472)
	Other			-		55		-		-		55
		Net cash flows used in investing activities		(1,189)		(18,369)		(11,283)		78		(30,763)
Cash flows from financing activities:
	Proceeds from long-term borrowings			66,700		-		4,222		-		70,922
	Repayment on long-term borrowings			(89,224)		-		(6,998)		-		(96,222)
	Distributions to owners, including noncontrolling interests			-		(84,863)		(194,156)		187,493		(91,526)
	Changes in intercompany balances with affiliates, net			1,431		-		(1,431)		-		-
	Other financing activities, net			(12,371)		602		411		(78)		(11,436)
		Net cash flows provided by (used in) financing activities		(33,464)		(84,261)		(197,952)		187,415		(128,262)
Net increase (decrease) in cash and cash equivalents				(2,464)		-		(4,011)		-		(6,475)
Cash and cash equivalents, beginning of period				7,259		-		39,139		-		46,398
Cash and cash equivalents, end of period			$	4,795	$	-	$	35,128	$	-	$	39,923

Consolidating Statement of Cash Flows - For the Six Months Ended June 30, 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	$	35,844	$	91,782	$	175,182	$	(159,184)	$	143,624
Cash flows from investing activities:
	Acquisition of interests in surgery centers and related transactions			-		(10,040)		-		68		(9,972)
	Acquisition of property and equipment			(1,391)		-		(13,178)		-		(14,569)
	Other			-		-		-		-		-
		Net cash flows used in investing activities		(1,391)		(10,040)		(13,178)		68		(24,541)
Cash flows from financing activities:
	Proceeds from long-term borrowings			32,000		-		1,378		-		33,378
	Repayment on long-term borrowings			(67,000)		-		(5,517)		-		(72,517)
	Distributions to owners, including noncontrolling interests			-		(82,801)		(159,142)		159,184		(82,759)
	Changes in intercompany balances with affiliates, net			(1,195)		-		1,195		-		-
	Other financing activities, net			(1,773)		1,059		528		(68)		(254)
		Net cash flows provided by (used in) financing activities		(37,968)		(81,742)		(161,558)		159,116		(122,152)
Net increase (decrease) in cash and cash equivalents				(3,515)		-		446		-		(3,069)
Cash and cash equivalents, beginning of period				8,530		-		32,188		-		40,718
Cash and cash equivalents, end of period			$	5,015	$	-	$	32,634	$	-	$	37,649