Financial Information for the Company and Its Subsidiaries (Tables)

9 Months Ended

Sep. 30, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]



Condensed Consolidating Balance Sheet - September 30, 2015 (In thousands)
	Parent Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total Consolidated
Assets
Current assets:
Cash and cash equivalents	$	68,730	$	56,647	$	62,045	$	—		$	187,422
Restricted cash and marketable securities	—		—		11,789		—			11,789
Accounts receivable, net	—		160,685		115,552		—			276,237
Supplies inventory	—		255		20,632		—			20,887
Prepaid and other current assets	33,969		50,302		19,516		(12,136		)	91,651
Total current assets	102,699		267,889		229,534		(12,136		)	587,986
Property and equipment, net	12,819		9,468		168,112		—			190,399
Investments in and receivables from unconsolidated affiliates	4,115,444		1,729,729		—		(5,732,296		)	112,877
Goodwill	—		1,559,463		—		2,029,854			3,589,317
Intangible assets, net	62,201		1,217,937		2,429		—			1,282,567
Other assets	3,408		1,040		21,624		(1,998		)	24,074
Total assets	$	4,296,571	$	4,785,526	$	421,699	$	(3,716,576	)	$	5,787,220
Liabilities and Equity
Current liabilities:
Current portion of long-term debt	$	8,700	$	—	$	11,282	$	—		$	19,982
Accounts payable	1,696		4,686		28,067		(3,699		)	30,750
Accrued salaries and benefits	28,070		141,388		17,465		—			186,923
Accrued interest	17,835		—		11		—			17,846
Other accrued liabilities	14,856		81,017		43,127		(8,437		)	130,563
Total current liabilities	71,157		227,091		99,952		(12,136		)	386,064
Long-term debt	2,200,425		—		57,759		(27,888		)	2,230,296
Deferred income taxes	238,773		408,936		—		(1,998		)	645,711
Other long-term liabilities	4,473		66,862		19,336		—			90,671
Intercompany payable	—		1,228,157		—		(1,228,157		)	—
Noncontrolling interests – redeemable	—		—		64,595		120,666			185,261
Equity:
Total AmSurg Corp. equity	1,781,743		2,854,480		133,171		(2,987,651		)	1,781,743
Noncontrolling interests – non-redeemable	—		—		46,886		420,588			467,474
Total equity	1,781,743		2,854,480		180,057		(2,567,063		)	2,249,217
Total liabilities and equity	$	4,296,571	$	4,785,526	$	421,699	$	(3,716,576	)	$	5,787,220



Condensed Consolidating Balance Sheet - December 31, 2014 (In thousands)
	Parent Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total Consolidated
Assets
Current assets:
Cash and cash equivalents	$	134,351	$	23,471	$	50,257	$	—		$	208,079
Restricted cash and marketable securities	—		—		10,219		—			10,219
Accounts receivable, net	—		123,772		109,281		—			233,053
Supplies inventory	—		301		19,673		—			19,974
Prepaid and other current assets	47,997		58,388		13,795		(4,818		)	115,362
Total current assets	182,348		205,932		203,225		(4,818		)	586,687
Property and equipment, net	10,391		9,972		160,085		—			180,448
Investments in and receivables from unconsolidated affiliates	3,912,804		1,587,881		—		(5,425,210		)	75,475
Goodwill	—		1,490,981		—		1,890,168			3,381,149
Intangible assets, net	67,678		1,203,218		2,983		—			1,273,879
Other assets	3,323		943		23,086		(1,466		)	25,886
Total assets	$	4,176,544	$	4,498,927	$	389,379	$	(3,541,326	)	$	5,523,524
Liabilities and Equity
Current liabilities:
Current portion of long-term debt	$	8,700	$	—	$	10,126	$	—		$	18,826
Accounts payable	1,849		35		31,781		(4,080		)	29,585
Accrued salaries and benefits	25,035		101,395		13,614		—			140,044
Accrued interest	29,621		—		23		—			29,644
Other accrued liabilities	8,051		44,305		16,368		(738		)	67,986
Total current liabilities	73,256		145,735		71,912		(4,818		)	286,085
Long-term debt	2,206,950		—		53,648		(28,412		)	2,232,186
Deferred income taxes	209,400		425,546		—		(1,466		)	633,480
Other long-term liabilities	7,391		63,616		18,436		—			89,443
Intercompany payable	—		1,219,979		8,010		(1,227,989		)	—
Noncontrolling interests – redeemable	—		—		63,544		120,555			184,099
Equity:
Total AmSurg Corp. equity	1,679,547		2,644,051		130,206		(2,774,257		)	1,679,547
Noncontrolling interests – non-redeemable	—		—		43,623		375,061			418,684
Total equity	1,679,547		2,644,051		173,829		(2,399,196		)	2,098,231
Total liabilities and equity	$	4,176,544	$	4,498,927	$	389,379	$	(3,541,326	)	$	5,523,524

Condensed Consolidating Statement of Operations



Condensed Consolidating Statement of Operations - For the Three Months Ended September 30, 2015 (In thousands)
	Parent Issuer			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total Consolidated
Net revenue	$	5,975		$	339,484	$	314,382	$	(9,614	)	$	650,227
Operating expenses:
Salaries and benefits	17,642			231,769		78,249		(128		)	327,532
Supply cost	—			476		45,182		(20		)	45,638
Other operating expenses	7,054			34,742		66,522		(9,466		)	98,852
Transaction costs	270			1,837		—		—			2,107
Depreciation and amortization	1,017			14,906		8,183		—			24,106
Total operating expenses	25,983			283,730		198,136		(9,614		)	498,235
Net gain on deconsolidations	—			9,112		—		—			9,112
Equity in earnings of unconsolidated affiliates	96,232			64,423		—		(155,720		)	4,935
Operating income	76,224			129,289		116,246		(155,720		)	166,039
Interest expense, net	11,766			17,845		631		—			30,242
Earnings from operations before income taxes	64,458			111,444		115,615		(155,720		)	135,797
Income tax expense	21,797			15,210		511		—			37,518
Net earnings	42,661			96,234		115,104		(155,720		)	98,279
Less net earnings attributable to noncontrolling interests	—			—		55,618		—			55,618
Net earnings attributable to AmSurg Corp. shareholders	42,661			96,234		59,486		(155,720		)	42,661
Preferred stock dividends	(2,264		)	—		—		—			(2,264		)
Net earnings attributable to AmSurg Corp. common shareholders	$	40,397		$	96,234	$	59,486	$	(155,720	)	$	40,397



Condensed Consolidating Statement of Operations - For the Nine Months Ended September 30, 2015 (In thousands)
	Parent Issuer			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Net revenue	$	20,145		$	954,642	$	915,791		$	(27,956	)	$	1,862,622
Operating expenses:
Salaries and benefits	50,796			671,988		227,703			(380		)	950,107
Supply cost	—			1,361		132,705			(54		)	134,012
Other operating expenses	19,471			106,452		196,023			(27,522		)	294,424
Transaction costs	862			4,698		—			—			5,560
Depreciation and amortization	2,907			43,830		23,799			—			70,536
Total operating expenses	74,036			828,329		580,230			(27,956		)	1,454,639
Net gain on deconsolidations	—			5,889		(35		)	—			5,854
Equity in earnings of unconsolidated affiliates	233,362			183,519		—			(405,306		)	11,575
Operating income	179,471			315,721		335,526			(405,306		)	425,412
Interest expense, net	35,630			53,223		1,818			—			90,671
Earnings from operations before income taxes	143,841			262,498		333,708			(405,306		)	334,741
Income tax expense	46,467			29,134		1,359			—			76,960
Net earnings	97,374			233,364		332,349			(405,306		)	257,781
Less net earnings attributable to noncontrolling interests	—			—		160,407			—			160,407
Net earnings attributable to AmSurg Corp. shareholders	97,374			233,364		171,942			(405,306		)	97,374
Preferred stock dividends	(6,792		)	—		—			—			(6,792		)
Net earnings attributable to AmSurg Corp. common shareholders	$	90,582		$	233,364	$	171,942		$	(405,306	)	$	90,582



Condensed Consolidating Statement of Operations - For the Three Months Ended September 30, 2014 (In thousands)
	Parent Issuer			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Net revenue	$	5,551		$	221,013	$	280,589		$	(4,803	)	$	502,350
Operating expenses:
Salaries and benefits	14,961			153,653		71,846			(123		)	240,337
Supply cost	—			816		41,070			—			41,886
Other operating expenses	6,425			19,127		60,390			(4,680		)	81,262
Transaction costs	23,111			1,991		—			—			25,102
Depreciation and amortization	789			12,320		7,729			—			20,838
Total operating expenses	45,286			187,907		181,035			(4,803		)	409,425
Equity in earnings of unconsolidated affiliates	58,649			48,225		—			(104,716		)	2,158
Operating income	18,914			81,331		99,554			(104,716		)	95,083
Interest expense	23,865			14,630		559			—			39,054
Debt extinguishment costs	16,887			—		—			—			16,887
Earnings (loss) from continuing operations before income taxes	(21,838		)	66,701		98,995			(104,716		)	39,142
Income tax expense (benefit)	(8,566		)	8,051		537			—			22
Net earnings (loss) from continuing operations	(13,272		)	58,650		98,458			(104,716		)	39,120
Net earnings (loss) from discontinued operations	3,438			—		(5,135		)	—			(1,697		)
Net earnings (loss)	(9,834		)	58,650		93,323			(104,716		)	37,423
Less net earnings attributable to noncontrolling interests	—			—		47,257			—			47,257
Net earnings (loss) attributable to AmSurg Corp. shareholders	(9,834		)	58,650		46,066			(104,716		)	(9,834		)
Preferred stock dividends	(2,239		)	—		—			—			(2,239		)
Net earnings (loss) attributable to AmSurg Corp. common shareholders	$	(12,073	)	$	58,650	$	46,066		$	(104,716	)	$	(12,073	)
Amounts attributable to AmSurg Corp. common shareholders:
Earnings (loss) from continuing operations, net of income tax	$	(15,511	)	$	58,650	$	50,880		$	(104,716	)	$	(10,697	)
Discontinued operations, net of income tax	3,438			—		(4,814		)	—			(1,376		)
Net earnings (loss) attributable to AmSurg Corp. common shareholders	$	(12,073	)	$	58,650	$	46,066		$	(104,716	)	$	(12,073	)



Condensed Consolidating Statement of Operations - For the Nine Months Ended September 30, 2014 (In thousands)
	Parent Issuer			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Net revenue	$	18,042		$	221,013	$	815,272		$	(14,189	)	$	1,040,138
Operating expenses:
Salaries and benefits	44,728			153,653		208,527			(369		)	406,539
Supply cost	—			816		119,748			—			120,564
Other operating expenses	15,440			19,127		170,496			(13,820		)	191,243
Transaction costs	26,690			1,991		—			—			28,681
Depreciation and amortization	2,429			12,320		22,784			—			37,533
Total operating expenses	89,287			187,907		521,555			(14,189		)	784,560
Gain on deconsolidation	3,411			3,411		—			(3,411		)	3,411
Equity in earnings of unconsolidated affiliates	161,340			150,916		—			(308,795		)	3,461
Operating income	93,506			187,433		293,717			(312,206		)	262,450
Interest expense	36,658			14,630		1,618			—			52,906
Debt extinguishment costs	16,887			—		—			—			16,887
Earnings from continuing operations before income taxes	39,961			172,803		292,099			(312,206		)	192,657
Income tax expense	16,687			8,051		1,064			—			25,802
Net earnings from continuing operations	23,274			164,752		291,035			(312,206		)	166,855
Net earnings (loss) from discontinued operations	3,048			—		(4,194		)	—			(1,146		)
Net earnings	26,322			164,752		286,841			(312,206		)	165,709
Less net earnings attributable to noncontrolling interests	—			—		139,387			—			139,387
Net earnings attributable to AmSurg Corp. shareholders	26,322			164,752		147,454			(312,206		)	26,322
Preferred stock dividends	(2,239		)	—		—			—			(2,239		)
Net earnings attributable to AmSurg Corp. common shareholders	$	24,083		$	164,752	$	147,454		$	(312,206	)	$	24,083
Amounts attributable to AmSurg Corp. common shareholders:
Earnings from continuing operations, net of income tax	$	21,035		$	164,752	$	151,885		$	(312,206	)	$	25,466
Discontinued operations, net of income tax	3,048			—		(4,431		)	—			(1,383		)
Net earnings attributable to AmSurg Corp. common shareholders	$	24,083		$	164,752	$	147,454		$	(312,206	)	$	24,083

Condensed Consolidating Statement of Cash Flows



Condensed Consolidating Statement of Cash Flows - For the Nine Months Ended September 30, 2015 (In thousands)
	Parent Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Cash flows from operating activities:
Net cash flows provided by (used in) operating activities	$	(20,702	)	$	313,286		$	368,391		$	(233,773	)	$	427,202
Cash flows from investing activities:
Acquisitions and related expenses	(29,157		)	(236,107		)	—			31,774			(233,490		)
Acquisition of property and equipment	(5,659		)	(15,418		)	(25,929		)	—			(47,006		)
Purchases of marketable securities	—			—			(1,743		)	—			(1,743		)
Maturities of marketable securities	—			—			4,233			—			4,233
Other	—			(779		)	(3,195		)	—			(3,974		)
Net cash flows used in investing activities	(34,816		)	(252,304		)	(26,634		)	31,774			(281,980		)
Cash flows from financing activities:
Proceeds from long-term borrowings	—			—			10,197			—			10,197
Repayment on long-term borrowings	(6,525		)	—			(9,212		)	—			(15,737		)
Distributions to owners, including noncontrolling interests	—			(59,616		)	(332,301		)	233,773			(158,144		)
Capital contributions	—			29,157			—			(29,157		)	—
Cash dividends for preferred shares	(6,792		)	—			—			—			(6,792		)
Financing cost incurred	(294		)	—			—			—			(294		)
Changes in intercompany balances with affiliates, net	524			—			(524		)	—			—
Other, net	2,984			2,653			1,871			(2,617		)	4,891
Net cash flows used in financing activities	(10,103		)	(27,806		)	(329,969		)	201,999			(165,879		)
Net increase (decrease) in cash and cash equivalents	(65,621		)	33,176			11,788			—			(20,657		)
Cash and cash equivalents, beginning of period	134,351			23,471			50,257			—			208,079
Cash and cash equivalents, end of period	$	68,730		$	56,647		$	62,045		$	—		$	187,422



Condensed Consolidating Statement of Cash Flows - For the Nine Months Ended September 30, 2014 (In thousands)
	Parent Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Cash flows from operating activities:
Net cash flows provided by operating activities	$	103,091		$	225,098		$	309,033		$	(361,171	)	$	276,051
Cash flows from investing activities:
Acquisitions and related expenses	(2,147,585		)	(2,142,611		)	1,574			2,149,974			(2,138,648		)
Acquisition of property and equipment	(3,653		)	(2,337		)	(17,119		)	—			(23,109		)
Proceeds from sale of interests in surgery centers	—			4,969			—			—			4,969
Purchases of marketable securities	—			—			(3,486		)	—			(3,486		)
Other	(2,555		)	(648		)	5,285			—			2,082
Net cash flows used in investing activities	(2,153,793		)	(2,140,627		)	(13,746		)	2,149,974			(2,158,192		)
Cash flows from financing activities:
Proceeds from long-term borrowings	2,040,000			—			6,399			—			2,046,399
Repayment on long-term borrowings	(394,318		)	—			(8,725		)	—			(403,043		)
Distributions to owners, including noncontrolling interests	—			(206,580		)	(294,034		)	361,171			(139,443		)
Capital contributions	—			2,147,585			—			(2,147,585		)	—
Proceeds from preferred stock offering	172,500			—			—			—			172,500
Cash dividends for preferred shares	(2,239		)	—			—			—			(2,239		)
Proceeds from common stock offering	439,875			—			—			—			439,875
Payments of equity issuance costs	(24,366		)	—			—			—			(24,366		)
Financing costs incurred	(65,673		)	—			—			—			(65,673		)
Changes in intercompany balances with affiliates, net	731			—			(731		)	—			—
Other, net	1,311			(206		)	2,656			(2,389		)	1,372
Net cash flows provided by (used in) financing activities	2,167,821			1,940,799			(294,435		)	(1,788,803		)	2,025,382
Net increase in cash and cash equivalents	117,119			25,270			852			—			143,241
Cash and cash equivalents, beginning of period	6,710			—			44,130			—			50,840
Cash and cash equivalents, end of period	$	123,829		$	25,270		$	44,982		$	—		$	194,081