PharMerica 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 28, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	PHARMERICA CORP
Entity Central Index Key	1,388,195
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		31,121,162
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017

CONDENSED CONSOLIDATED INCOME S

CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited) [Abstract]
Revenues	$ 592	$ 519.6	$ 1,158.8	$ 1,044.1
Cost of goods sold	502.4	437.8	981.4	880.3
Gross profit	89.6	81.8	177.4	163.8
Selling, general and administrative expenses	61.8	55.7	125.2	112.7
Amortization expense	9.9	8.2	19	16.4
Merger, acquisition, integration costs and other charges	3.6	4.4	7.1	8.8
Settlement, litigation and other related charges	2.7	4.9	5.2	8
Restructuring and impairment charges	0	1.1	0.1	2.5
Operating income	11.6	7.5	20.8	15.4
Interest expense, net	4.1	3.3	7.8	6.3
Income before income taxes	7.5	4.2	13	9.1
Provision for income taxes	2.8	1.7	4.8	2.5
Net income	$ 4.7	$ 2.5	$ 8.2	$ 6.6
Earnings per common share:
Basic (in dollars per share)	$ 0.15	$ 0.08	$ 0.26	$ 0.22
Diluted (in dollars per share)	$ 0.15	$ 0.08	$ 0.26	$ 0.21
Shares used in computing earnings per common share:
Basic (in shares)	31,440,495	30,728,592	31,141,560	30,628,145
Diluted (in shares)	31,686,524	31,028,174	31,480,728	31,003,145

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 13.5	$ 5.4
Accounts receivable, net	246.6	235.4
Inventory	139.6	214.7
Income taxes receivable	6.6	4.7
Prepaids and other assets	51.1	56.5
Total current assets	457.4	516.7
Equipment and leasehold improvements	266.2	250.9
Accumulated depreciation	(177.9)	(165.1)
Total equipment and leasehold improvements	88.3	85.8
Goodwill	422.9	392.3
Intangible assets, net	187.6	187.6
Deferred tax assets, net	1.8	9.2
Other long-term assets (See Note 5)	78.7	81.4
Total assets	1,236.7	1,273
Current liabilities:
Accounts payable	104.5	107.1
Salaries, wages and other compensation	31.6	32.5
Current portion of long-term debt	15.5	15.6
Other accrued liabilities	26.2	27.1
Total current liabilities	177.8	182.3
Long-term debt	417.4	457.8
Other long-term liabilities	84.7	88.7
Commitments and contingencies (See Note 5)
Stockholders' equity:
Preferred stock, $0.01 par value per share; 1,000,000 shares authorized and no shares issued, December 31, 2016 and June 30, 2017	0	0
Common stock, $0.01 par value per share; 175,000,000 shares authorized; 33,698,269 and 34,132,297 shares issued as of December 31, 2016 and June 30, 2017, respectively	0.3	0.3
Capital in excess of par value	417.7	411.1
Retained earnings	181.9	173.7
Treasury stock at cost, 2,916,906 and 3,011,599 shares at December 31, 2016 and June 30, 2017, respectively	(43.1)	(40.9)
Total stockholders' equity	556.8	544.2
Total liabilities and stockholders' equity	$ 1,236.7	$ 1,273

CONDENSED CONSOLIDATED BALANCE4

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	175,000,000	175,000,000
Common stock, shares issued (in shares)	34,132,297	33,698,269
Treasury stock at cost, shares (in shares)	3,011,599	2,916,906

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Cash flows provided by (used in) operating activities:
Net income	$ 4.7	$ 2.5	$ 8.2	$ 6.6
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	6.8	5.7	13.7	11
Amortization	9.9	8.2	19	16.4
Stock-based compensation and deferred compensation	2.5	2.7	5	4.1
Amortization of deferred financing fees	0.2	0.2	0.4	0.3
Deferred income taxes	4.3	4.7	7.2	7.8
Other	(0.1)	0	(0.1)	0.1
Change in operating assets and liabilities:
Accounts receivable, net	1.2	(8)	(4.1)	(7)
Inventory	3.9	(42.3)	77.5	(7.4)
Prepaids and other assets	6.2	0.2	8.5	(0.5)
Accounts payable	17.4	12.6	(8.4)	26.8
Salaries, wages and other compensation	(2.6)	4	(1.1)	(2.7)
Other accrued liabilities	(10.1)	(11.5)	(9)	(9.3)
Change in income taxes (receivable)	(1.8)	(2.9)	(2)	(3.8)
Excess tax benefit from stock-based compensation	0	(0.2)	(0.1)	(1.2)
Net cash (used in) provided by operating activities	42.5	(24.1)	114.7	41.2
Cash flows provided by (used in) investing activities:
Purchase of equipment and leasehold improvements	(8)	(7.9)	(15.9)	(13.3)
Acquisitions, net of cash acquired	(2.5)	(0.2)	(50.7)	(6.9)
Net cash used in investing activities	(10.5)	(8.1)	(66.6)	(20.2)
Cash flows provided by (used in) financing activities:
Repayments of long-term debt	(3.8)	(2.8)	(7.5)	(5.6)
Net activity of long-term revolving credit facility	(30)	37	(33)	(8)
Issuance of common stock	0	0	3	0.1
Treasury stock, for employee taxes on stock awards	0	0	(2.2)	(3)
Repayments of capital lease obligations	(0.1)	(0.1)	(0.3)	(0.2)
Net cash provided by (used in) financing activities	(33.9)	34.1	(40)	(16.7)
Change in cash and cash equivalents	(1.9)	1.9	8.1	4.3
Cash and cash equivalents at beginning of period	15.4	25.5	5.4	23.1
Cash and cash equivalents at end of period	13.5	27.4	13.5	27.4
Supplemental information:
Cash paid for interest	3.9	2.6	7.4	5.2
Cash paid (received) for taxes	$ 0.2	$ 0.2	$ (0.2)	$ 0.2

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - 6 months ended Jun. 30, 2017 - USD ($) $ in Millions	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Beginning Balance at Dec. 31, 2016	$ 0.3	$ 411.1	$ 173.7	$ (40.9)	$ 544.2
Beginning Balance (in shares) at Dec. 31, 2016	30,781,363
Net income			8.2		8.2
Exercise of stock options and tax components of stock-based awards, net	$ 0	3.2	0	0	3.2
Exercise of stock options and tax components of stock-based awards, net (in shares)	179,124
Vested restricted stock units	$ 0	(0.1)	0	0	(0.1)
Vested restricted stock units (in shares)	180,475
Vested performance stock units	$ 0	0	0	0	0
Vested performance stock units (in shares)	74,429
Treasury stock, for employee taxes on stock awards	$ 0	0	0	(2.2)	(2.2)
Treasury stock, for employee taxes on stock awards (in shares)	(94,693)
Stock-based compensation - non-vested restricted stock	$ 0	3.5	0	0	3.5
Ending Balance at Jun. 30, 2017	$ 0.3	$ 417.7	$ 181.9	$ (43.1)	$ 556.8
Ending Balance (in shares) at Jun. 30, 2017	31,120,698

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2017
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1—ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business PharMerica Corporation together with its subsidiaries, (the "Corporation"), is a pharmacy services company that services healthcare facilities, provides pharmacy management services to hospitals, provides specialty infusion services to patients outside a hospital setting, and offers the only national oncology pharmacy in the United States. The Corporation is the second largest institutional pharmacy services company in the United States based on revenues and customer licensed beds under contract, operating 96 institutional pharmacies, 20 specialty home infusion pharmacies, and 5 specialty oncology pharmacies in 45 states. The Corporation's customers are institutional healthcare providers, such as skilled nursing facilities, assisted living facilities, hospitals, individuals receiving in-home care and patients with cancer. Operating Segments The Corporation consists of three operating segments: institutional pharmacy, specialty infusion services and specialty oncology pharmacy. Management believes the nature of the products and services are similar, the payers for the products and services are common among the segments and all segments operate in the healthcare regulatory environment. In addition, the segments are economically similar. Accordingly, management has aggregated the three operating segments into one reporting segment. Principles of Consolidation All intercompany transactions have been eliminated. The Corporation has an investment in a long-term care pharmacy business that is accounted for by the equity method. This entity is not a variable interest entity and the Corporation's lack of majority voting rights precludes the Corporation from controlling this affiliate. Accordingly, the Corporation does not consolidate this affiliate, but rather applies the equity method of accounting. The Corporation's share of the net income or loss of this unconsolidated affiliate is included in operating income. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all of the information and disclosures required by generally accepted accounting principles in the United States ("U.S. GAAP") for complete financial statements. Accordingly, the accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Corporation and related footnotes for the year ended December 31, 2016, included in the Corporation's Annual Report on Form 10-K. The balance sheet as of December 31, 2016 has been derived from the audited consolidated financial statements. The results of operations for the interim periods are not necessarily indicative of results of operations for a full year. It is the opinion of management that all necessary adjustments for a fair presentation of the condensed consolidated financial statements for the interim periods have been made and are of a normal recurring nature. Use of Estimates The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP which requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates are involved in collectability of accounts receivable, revenue recognition, inventory valuation, supplier rebates and the valuation of long-lived assets and goodwill. Actual amounts may differ from these estimates. Fair Value of Financial Instruments Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based upon assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Corporation follows a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs for which there is little or no market data, which require the Corporation to develop its own assumptions. Assets and liabilities measured at fair value are based on one or more of the following three valuation techniques: A. Market approach: B. Cost approach: C. Income approach: The financial liabilities recorded at fair value at December 31, 2016 and June 30, 2017 are set forth in the tables below (dollars in millions): As of December 31, 2016 Liability Level 1 Level 2 Level 3 Valuation Technique Financial Liability Deferred Compensation Plan $ (8.8 ) $ - $ (8.8 ) $ - A Contingent Considerations (8.1 ) - - (8.1 ) C Mandatorily Redeemable Interest (4.0 ) - - (4.0 ) C As of June 30, 2017 Liability Level 1 Level 2 Level 3 Valuation Technique Financial Liability Deferred Compensation Plan $ (10.8 ) $ - $ (10.8 ) $ - A Contingent Considerations (9.9 ) - - (9.9 ) C Mandatorily Redeemable Interest (4.0 ) - - (4.0 ) C The deferred compensation plan liability represents an obligation associated with the deferred compensation plan offered to eligible employees and members of the Board of Directors of the Corporation. The fair value of the liability associated with the deferred compensation plan is derived using pricing and other relevant information for investments in phantom shares of certain available investment options, primarily mutual funds. This liability is classified as other long-term liabilities in the accompanying condensed consolidated balance sheets. The contingent consideration represents future earn-outs associated with certain of the Corporation's acquisitions made in 2015, 2016 and 2017. The fair values of the liabilities associated with the contingent consideration were derived using the income approach with unobservable inputs, which included future gross profit forecasts and present value assumptions, and there was little or no market data. The Corporation assessed the fair values of the liabilities as of the acquisition date and will assess quarterly thereafter until settlement. These liabilities are classified as other current and long-term liabilities in the accompanying condensed consolidated balance sheets. The mandatorily redeemable interest represents a future obligation associated with the Corporation's acquisition of a specialty pharmacy business, OncoMed Specialty, LLC ("Onco") in which the Corporation made its initial purchase of interests on December 6, 2013 and its purchase of additional interests in December 2016. The mandatorily redeemable interest is classified as a long-term liability and measured at fair value. The fair value was derived using the income approach with unobservable inputs, which included a future gross profit forecast and present value assumptions, and there was little or no market data. The Corporation assessed and adjusted the mandatorily redeemable interest liability to estimated fair value at December 31, 2016. This liability is classified as other long-term liabilities in the accompanying condensed consolidated balance sheets. For the year ended December 31, 2016 and the six months ended June 30, 2017, there were no transfers between the valuation hierarchy Levels 1, 2, and 3. The following table summarizes the change in fair value of the Corporation's contingent consideration and mandatorily redeemable interest identified as Level 3 for the year ended December 31, 2016 and the six months ended June 30, 2017 (in millions): Contingent Consideration Mandatorily Redeemable Interest Beginning balance, December 31, 2015 $ 11.5 $ 5.8 Additions from business acquisitions 1.4 - Contingent consideration payment (3.9 ) - Change in fair value (0.9 ) (1.8 ) Balance at December 31, 2016 8.1 4.0 Additions from business acquisitions 5.9 - Contingent consideration payment (3.9 ) - Change in fair value (0.2 ) - Balance, June 30, 2017 $ 9.9 $ 4.0 The carrying amounts reported in the accompanying condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, inventory and accounts payable approximate fair value because of the short-term maturity of these instruments. The Corporation's debt approximates fair value due to the terms of the interest being set at variable market interest rates (Level 2). Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable primarily consist of amounts due from Prescription Drug Plans ("PDPs") under Medicare Part D, institutional healthcare providers, the respective state Medicaid programs, third party insurance companies, and private payers. The Corporation's ability to collect outstanding receivables is critical to its results of operations and cash flows. To provide for accounts receivable that could become uncollectible in the future, the Corporation establishes an allowance for doubtful accounts to reduce the carrying value of such receivables to the extent it is probable that a portion or all of a particular account will not be collected. The Corporation has an established process to determine the adequacy of the allowance for doubtful accounts, which relies on analytical tools, specific identification, and benchmarks to arrive at a reasonable allowance. No single statistic or measurement determines the adequacy of the allowance for doubtful accounts. The Corporation monitors and reviews trends by payer classification along with the composition of the Corporation's accounts receivable aging. This review is focused primarily on trends in private and other payers, PDPs, dual eligible co-payments, historic payment patterns of long-term care institutions, and monitoring respective credit risks. In addition, the Corporation analyzes other factors such as revenue days in accounts receivables, denial trends by payer types, payment patterns by payer types, subsequent cash collections, and current events that may impact payment patterns of the Corporation's long-term care institution customers. Accounts receivable are written off after collection efforts have been completed in accordance with the Corporation's policies. The Corporation's accounts receivable and summarized aging categories are as follows (dollars in millions): December 31, June 30, 2016 2017 Institutional healthcare providers $ 138.2 $ 138.5 Medicare Part D 42.5 51.8 Private payer and other 28.1 27.0 Insured 38.7 41.0 Medicaid 15.6 18.7 Medicare 3.4 2.4 Allowance for doubtful accounts (31.1 ) (32.8 ) $ 235.4 $ 246.6 0 to 60 days 62.9 % 64.5 % 61 to 120 days 15.7 % 14.8 % Over 120 days 21.4 % 20.7 % 100.0 % 100.0 % The following is a summary of activity in the Corporation's allowance for doubtful accounts (dollars in millions): Beginning Balance Charges Included in Selling, General & Administrative Expenses Write-offs Ending Balance Allowance for doubtful accounts: Year Ended December 31, 2016 $ 49.3 $ 6.3 $ (24.5 ) $ 31.1 Six Months Ended June 30, 2017 $ 31.1 $ 6.6 $ (4.9 ) $ 32.8 Bad debt expense for the year ended December 31, 2016 was favorably impacted by approximately $5.6 million related to collections of certain previously reserved receivables under note agreements and the settlement of a customer's trade receivable of $3.2 million. Restructuring and Impairment Charges Restructuring and impairment charges in the condensed consolidated financial statements represent amounts expensed for purposes of realigning corporate and pharmacy locations. Mandatorily Redeemable Interest On December 6, 2013, the Corporation acquired 37.5% of the membership interests of Onco while also obtaining control of the business. Following the Corporation's exercise of its rights to purchase additional interests of Onco in December 2016, the Corporation owns an aggregate of 81.5% of the membership interests of Onco as of June 30, 2017. The subsidiary is consolidated in the Corporation's condensed consolidated financial statements and the mandatorily redeemable interest is classified as debt within other long-term liabilities in the condensed consolidated balance sheets. Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, "Leases", which generally requires companies to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet. This guidance will be adopted in the first quarter of 2019 on a modified retrospective basis. The Corporation is still evaluating the effect that this guidance will have on its condensed consolidated financial statements and related disclosures. In November 2015, the FASB issued ASU No. 2015-17, "Balance Sheet Classification of Deferred Taxes" related to accounting for income taxes which changes the balance sheet classification of deferred taxes, requiring deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The new guidance is effective for the Corporation beginning with annual and interim periods in 2017, with early adoption permitted. The Corporation adopted this ASU beginning January 1, 2017. The Corporation no longer presents a current deferred tax asset and a noncurrent deferred tax liability. Instead those amounts are combined to a net noncurrent deferred tax asset on its condensed consolidated balance sheets as of December 31, 2016 and June 30, 2017. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers", which amends the existing accounting standards for revenue recognition. In August 2015, the FASB issued ASU No. 2015-14, which delayed the effective date of ASU 2014-09 by one year. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, "Revenue from Contracts with Customers: Principal versus Agent Considerations" which clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The Corporation currently anticipates adopting the new standard effective January 1, 2018. The new standard also permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Corporation currently anticipates adopting the standard using the modified retrospective method. Since the Corporation is still in the process of completing its analysis on the impact this guidance will have on its condensed consolidated financial statements and related disclosures, the Corporation is not able to determine if it will have a material impact on its condensed consolidated financial statements.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2017
ACQUISITIONS [Abstract]
ACQUISITIONS	NOTE 2—ACQUISITIONS 2017 Acquisitions During the six months ended June 30, 2017, the Corporation completed the acquisition of one infusion business and one specialty and oncology business (collectively the "2017 Acquisitions"), neither of which were individually significant to the Corporation. The 2017 Acquisitions had an estimated purchase price of $44.0 million. The Corporation has not yet finalized the purchase price allocation related to these acquisitions. The preliminary amount of goodwill and identifiable intangibles related to these transactions is estimated to be $30.6 million and $16.9 million, respectively. Tax deductible goodwill associated with the acquisitions was $29.9 million as of June 30, 2017. The net assets and operating results of the 2017 Acquisitions have been included in the Corporation's condensed consolidated financial statements from the respective dates of acquisition. 2016 Acquisitions During the year ended December 31, 2016, the Corporation completed acquisitions of four long-term care businesses and two infusion businesses (collectively the "2016 Acquisitions"), none of which were individually significant to the Corporation. The resulting amount of goodwill and identifiable intangibles related to these transactions in the aggregate were $19.4 million and $32.0 million, respectively. The Corporation believes the resulting amount of goodwill reflects the synergistic benefits of the acquisitions. Tax deductible goodwill associated with the 2016 Acquisitions was $10.8 million as of June 30, 2017. The net assets and operating results of the 2016 Acquisitions have been included in the Corporation's condensed consolidated financial statements from the respective dates of acquisition. Pro forma financial statements are not presented on the 2017 Acquisitions or 2016 Acquisitions as the results are not material to the Corporation's condensed consolidated financial statements. Other For the three months ended June 30, 2016 and 2017, the Corporation incurred $4.4 million and $3.6 million, respectively, and $8.7 million and $7.1 million for the six months ended June 30, 2016 and 2017, respectively, of acquisition-related costs, which have been classified as a component of merger, acquisition, integration costs and other charges.

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES	6 Months Ended
	Jun. 30, 2017
GOODWILL AND INTANGIBLES [Abstract]
GOODWILL AND INTANGIBLES	NOTE 3—GOODWILL AND INTANGIBLES As of December 31, 2016 and June 30, 2017 the carrying amount of goodwill was $392.3 million and $422.9 million, respectively. The following table presents the components of the Corporation's finite lived intangible assets (dollars in millions): Finite Lived Intangible Assets Balance at December 31, 2016 Additions Balance at June 30, 2017 Customer relationships $ 245.7 $ 13.9 $ 259.6 Trade name 64.0 4.1 68.1 Non-compete agreements 22.2 1.0 23.2 Sub Total 331.9 19.0 350.9 Accumulated amortization (144.3 ) (19.0 ) (163.3 ) Net intangible assets $ 187.6 $ - $ 187.6 Amortization expense relating to finite-lived intangible assets was $8.2 million and $9.9 million for the three months ended June 30, 2016 and 2017, respectively, and $16.4 million and $19.0 million for the six months ended June 30, 2016 and 2017, respectively.

CREDIT AGREEMENT

CREDIT AGREEMENT	6 Months Ended
	Jun. 30, 2017
CREDIT AGREEMENT [Abstract]
CREDIT AGREEMENT	NOTE 4—CREDIT AGREEMENT On December 9, 2016, the Corporation entered into a First Amendment ("Amendment") to its existing Credit Agreement previously entered into in September 2014 by and among the Corporation, the lenders named therein (the "Lenders"), Bank of America, N.A., as administrative agent, JP Morgan Chase Bank N.A., as syndication agent, and U.S. Bank, National Association, Citibank, N.A., MUFG Union Bank, N.A., BBVA Compass Bank and SunTrust Bank as co-documentation agents (collectively, the "Credit Agreement"). The Credit Agreement originally consisted of a $225.0 million term loan facility and a $310.0 million revolving credit facility. Pursuant to the Amendment, among other things, (a) the revolving commitments to the revolving credit facility were increased to $370.0 million, (b) an additional advance under the term loan was provided in an outstanding principal amount equal to $89.1 million which, when combined with the $210.9 million then outstanding under the term loan as of the date of the Amendment, equals $300.0 million outstanding under the term loan, (c) the amount by which commitments may be increased after the initial closing was increased from $190.0 million to $200.0 million, and (d) The Huntington National Bank was added as a new lender to the Credit Agreement. As of June 30, 2017, $289.7 million was outstanding under the term loan facility and $143.5 million was outstanding under the revolving credit facility. Indebtedness under the Credit Agreement matures on September 17, 2019, at which time the commitments of the Lenders to make revolving loans also expire. The table below summarizes the total outstanding debt of the Corporation (dollars in millions): December 31, 2016 June 30, 2017 Term Debt - payable to lenders at LIBOR plus applicable margin (3.48% as of June 30, 2017), matures September 17, 2019 $ 297.2 $ 289.7 Revolving Credit Facility payable to lenders, interest at LIBOR plus applicable margin (3.45% as of June 30, 2017), matures September 17, 2019 176.5 143.5 Deferred financing costs, net (1.9 ) (1.6 ) Capital lease obligations 1.6 1.3 Total debt 473.4 432.9 Less: Current portion of long-term debt 15.6 15.5 Total long-term debt $ 457.8 $ 417.4 The Corporation's indebtedness has the following maturities as of June 30, 2017 (dollars in millions): Year Ending December 31, Term Debt Revolving Credit Facility Deferred Financing Costs Capital Lease Obligations Total Maturities 2017 $ 7.5 $ - $ (0.4 ) $ 0.3 $ 7.4 2018 15.0 - (0.7 ) 0.4 14.7 2019 267.2 143.5 (0.5 ) 0.4 410.6 2020 - - - 0.2 0.2 $ 289.7 $ 143.5 $ (1.6 ) $ 1.3 $ 432.9 The Credit Agreement provides for the issuance of letters of credit which, when issued, reduce availability under the revolving credit facility. The aggregate amount of letters of credit outstanding as of June 30, 2017 was $2.8 million. After giving effect to the letters of credit, total availability under the revolving credit facility was $223.7 million as of June 30, 2017.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2017
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 5—COMMITMENTS AND CONTINGENCIES Legal Action and Regulatory The Corporation maintains liabilities for certain of its outstanding investigations and litigation. In accordance with the provisions of U.S. GAAP for contingencies, the Corporation records a liability when it is probable that such a liability has been incurred and the amount of the loss can be reasonably estimated. To the extent that the resolution of contingencies results in actual losses that differ from the Corporation's recorded liabilities, earnings will be charged or credited accordingly. The Corporation cannot know the ultimate outcome of the pending matters described below, and there can be no assurance that the resolution of these matters will not have a material adverse impact on the Corporation's condensed consolidated results of operations, financial position or cash flows. As a part of its ongoing operations, the Corporation is subject to various inspections, audits, inquiries, investigations and similar actions by third parties, as well as by government/regulatory authorities responsible for enforcing the laws and regulations to which the Corporation is subject. Further, under the federal False Claims Act (the "FCA") , private parties have the right to bring qui tam, or "whistleblower," suits against companies that submit false claims for payments to, or improperly retain overpayments from, the government. The inherently unpredictable nature of legal proceedings may be impacted by various factors, including: (i) the damages sought in the proceedings are unsubstantiated or indeterminate; (ii) discovery is not complete; (iii) the proceeding is in its early stages; (iv) the matters present legal uncertainties; (v) significant facts are in dispute; (vi) a large number of parties are participating in the proceedings (including where it is uncertain how liability, if any, will be shared among defendants); or (vii) the proceedings present a wide range of potential outcomes. The Corporation is the subject of certain investigations and is a defendant in a number of cases, including those discussed below. On March 4, 2011, a relator, Mark Silver, on behalf of the U.S. Government and various state governments, filed a complaint in the United States District Court for the District of New Jersey against the Corporation. The complaint alleges that, in violation of the Federal Anti-Kickback Statute and of the FCA, the Corporation offered below cost or below fair market value prices on drugs for which nursing homes were at financial risk (e.g., Medicare Part A), in exchange for so-called preferred or exclusive provider status that would allow the Corporation to dispense drugs to patients for which the Corporation could bill federal health care program payers such as Medicare Part D and Medicaid. On February 19, 2013, the U.S. Government declined to intervene in the case. The complaint has been amended several times, most recently on November 12, 2013, and thereafter served upon the Corporation. On December 6, 2013, the Corporation moved to dismiss the amended complaint for failure to state a claim upon which relief may be granted and on September 29, 2014, the court declined to dismiss the case, but limited the relevant time period for which claims could be brought against the Corporation. On March 4, 2016 and April 1, 2016, the Corporation filed motions to dismiss and for summary judgment, respectively, for lack of subject matter jurisdiction under the FCA prior public disclosure bar. On May 9, 2016, the Court granted the joint motion of Silver and the Corporation and dismissed with prejudice all successor liability claims against the Corporation for or regarding the conduct of Chem Rx Corporation. On November 28, 2016, the Court ruled in favor of the Corporation's March and April motions and this case was dismissed. In December of 2016, Silver filed an appeal of the dismissal and summary judgment. The Corporation intends to continue to defend the case vigorously. On November 20, 2013, the complaint filed against the Corporation by a relator, Robert Gadbois, on behalf of the U.S. Government and various state governments, was unsealed by the United States District Court for the District of Rhode Island. The complaint alleges that the Corporation dispensed controlled and non-controlled substances in violation of the CSA and in violation of relevant state laws, and the dispenses were not eligible for payment and that the claims the Corporation submitted to the Government were false within the meaning of the FCA. The U.S. Government and the various state governments declined to intervene in this case. On September 10, 2014, the Corporation filed a Complaint in Jefferson Circuit Court in Louisville, Kentucky against AmerisourceBergen Drug Corporation ("ABDC") for failure of ABDC to comply with certain pricing and rebate provisions of the Previous Prime Vendor Agreement ("Previous PVA"). The Corporation subsequently filed a First Amended Verified Complaint on September 26, 2014 and later filed Second and Third Amended Verified Complaints asserting additional breaches of the Previous PVA . As a result of ABDC's failure to comply with certain pricing and rebate provisions, the Corporation had recorded a receivable of $40.8 million related to these disputes at December 31, 2014. Separately, as of December 31, 2014, the Corporation had recorded $12.2 million for additional rebates owing from ABDC which at that time the Corporation believed were not in dispute and had previously been paid by ABDC in all the prior quarters. These receivables totaled $53.0 million and were included in prepaids and other assets in the consolidated balance sheet as of December 31, 2014. During the period of January 1, 2015 through March 31, 2015, an additional $19.3 million, net of payments received, of certain rebates and guarantees owed by ABDC under the Previous PVA were recognized, which brought the total gross receivable to $72.3 million at December 31, 2015. On March, 2, 2015, the Corporation notified ABDC of its intent to terminate the Previous PVA effective April 1, 2015. The Corporation also announced that it had entered into the Cardinal Health Prime Vendor Agreement ("Cardinal Health PVA") effective April 1, 2015. On March 3, 2015, the Corporation received a letter from ABDC terminating the Previous PVA effective immediately based upon the Corporation's alleged failure to pay certain disputed miscellaneous charges and the Corporation's signing of the Cardinal Health PVA. The Corporation believes ABDC did not have the right to immediately terminate the contract pursuant to the terms of the Previous PVA. On March 6 and March 13, 2015, the Corporation withheld from ABDC normal recurring payments for drug purchases of approximately $48.9 million. On May 18, 2015, ABDC filed an Amended Counterclaim seeking additional financial damages against the Corporation and asserted claims against two counter-defendants. On November 23, 2015, the Corporation filed its Third Amended Complaint against ABDC for additional financial damages, amounts overcharged by ABDC, and for certain rebates not paid by ABDC under the Previous PVA. On April 1, 2016, the Jefferson Circuit Court ruled that the Corporation could not set-off payment of the amounts that ABDC owed the Corporation against amounts that ABDC had invoiced the Corporation. Instead the Corporation must first pay ABDC and continue the litigation against ABDC to collect any amounts owed to the Corporation by ABDC upon the conclusion of the entire lawsuit. As a result, the Corporation owes approximately $48.9 million of payments for drug purchases in the first quarter of 2015. The Corporation has continued the litigation in the Jefferson Circuit Court against ABDC. On April 11, 2016, the Corporation filed a Motion to Alter and Amend the April 1, 2016 order of the Jefferson Circuit Court asking the judge to reconsider the final and appealable aspect of the order. On August 8, 2016, the Jefferson County Circuit Court issued an order that granted the Corporation's April 11, 2016 Motion to Alter and Amend the Judgment entered on April 1, 2016. The Court granted the Corporation's motion to remove the final and appealable designation from the April 1, 2016 order; therefore, the Corporation does not presently have to post a bond, pay ABDC post-judgment interest, or appeal the order to the Kentucky Court of Appeals for further relief. The Jefferson Circuit Court's ruling on the right to set-off does not in any way adversely affect the Corporation's claims against ABDC and the Corporation's ability to pursue all of its claims against ABDC in the Jefferson Circuit Court. The Corporation and ABDC have fully briefed their respective Motions for Summary Judgment and the Jefferson Circuit Court will hear oral arguments on the motions on August 11, 2017. Amounts owed to and from ABDC were previously offset resulting in a net receivable of $23.4 million from ABDC in the consolidated balance sheet at December 31, 2015 classified as an other long-term asset. As a result of the ruling on the right to set-off during the first quarter of 2016, the Corporation recorded amounts related to this matter on a gross basis resulting in a receivable from ABDC of $72.3 million and the payable to ABDC of $48.9 million. Accordingly, the $72.3 million receivable from ABDC is reflected in other long-term assets and the $48.9 million payable is reflected in other long-term liabilities in the accompanying condensed consolidated balance sheets as of June 30, 2017. The Corporation has claims for additional damages resulting from ABDC's breaches of the Previous PVA. The Corporation intends to vigorously pursue its claims. At this time, the Corporation is unable to determine the ultimate impact of these litigation proceedings on its consolidated financial condition, results of operations, or liquidity. The litigation with ABDC could continue for an extended period of time. The Corporation cannot provide any assurances about the outcome of the litigation. In addition, the Corporation is involved in certain legal actions and regulatory investigations arising in the ordinary course of business. At June 30, 2017, the Corporation had accrued approximately $8.0 million related to the pending and settled legal actions and investigations included in other current liabilities in the accompanying condensed consolidated balance sheets.

MERGER, ACQUISITION, INTEGRATIO

MERGER, ACQUISITION, INTEGRATION COSTS AND OTHER CHARGES	6 Months Ended
	Jun. 30, 2017
MERGER, ACQUISITION, INTEGRATION COSTS AND OTHER CHARGES [Abstract]
MERGER, ACQUISITION, INTEGRATION COST AND OTHER CHARGES	NOTE 6—MERGER, ACQUISITION, INTEGRATION COSTS AND OTHER CHARGES Merger, acquisition, integration costs and other charges combined were $4.4 million and $3.6 million for the three months ended June 30, 2016 and 2017, respectively, and $8.8 million and $7.1 million for the six months ended June 30, 2016 and 2017, respectively. These costs primarily relate to costs incurred prior to an acquisition such as professional advisory fees and the costs associated with integrating completed acquisitions into our business, such as IT transition and facility related costs.

RESTRUCTURING COSTS AND OTHER C

RESTRUCTURING COSTS AND OTHER CHARGES	6 Months Ended
	Jun. 30, 2017
RESTRUCTURING COSTS AND OTHER CHARGES [Abstract]
RESTRUCTURING COSTS AND OTHER CHARGES	NOTE 7—RESTRUCTURING COSTS AND OTHER CHARGES The Corporation recorded restructuring costs and other related charges of $1.1 million and less than $0.1 million for the three months ended June 30, 2016 and 2017, respectively, and $2.5 million and $0.1 million for the six months ended June 30, 2016 and 2017, respectively. The restructuring charges primarily included severance pay, the buy-out of employment agreements, lease terminations, and other exit-related asset disposals, professional fees and facility exit costs. The following table presents the components of the Corporation's restructuring liability (dollars in millions): Balance at December 31, 2016 Accrual Utilized Amounts Balance at June 30, 2017 Employee Severance and related costs $ 0.2 $ - $ (0.1 ) $ 0.1 Facility costs 0.4 0.1 (0.2 ) 0.3 $ 0.6 $ 0.1 $ (0.3 ) $ 0.4 The liability at June 30, 2017 represents amounts not yet paid relating to actions taken in connection with the restructuring plan (primarily lease payments and severance costs).

TREASURY STOCK, STOCK-BASED COM

TREASURY STOCK, STOCK-BASED COMPENSATION AND OTHER BENEFITS	6 Months Ended
	Jun. 30, 2017
TREASURY STOCK, STOCK-BASED COMPENSATION AND OTHER BENEFITS [Abstract]
TREASURY STOCK, STOCK-BASED COMPENSATION AND OTHER BENEFITS	NOTE 8—TREASURY STOCK, STOCK-BASED COMPENSATION AND OTHER BENEFITS Treasury Stock Purchases In August 2010, the Board of Directors authorized a share repurchase of up to $25.0 million of the Corporation's common stock, of which $10.5 million has been used. On July 2, 2012, the Board of Directors authorized an increase to the remaining portion of the existing share repurchase program that allows the Corporation to again repurchase up to a maximum of $25.0 million of the Corporation's common stock. Approximately $19.7 million remained available under the program as of June 30, 2017. Share repurchases under this authorization may be made in the open market through unsolicited or solicited privately negotiated transactions, or in such other appropriate manner, and may be funded from available cash or the revolving credit facility. The amount and timing of the repurchases, if any, would be determined by the Corporation's management and would depend on a variety of factors including price, corporate and regulatory requirements, capital availability and other market conditions. Common stock acquired through the share repurchase program would be held as treasury shares and may be used for general corporate purposes, including reissuance in connection with acquisitions, employee stock option exercises or other employee stock plans. The share repurchase program does not have an expiration date and may be limited, terminated or extended at any time without prior notice. During the six months ended June 30, 2017, the Corporation repurchased no shares of common stock under this program. The Corporation may redeem shares from employees upon the vesting of the Corporation's stock awards for tax withholding purposes and to cover option exercise costs. The Corporation redeemed 94,693 shares from the vesting of certain awards and exercise of certain stock options, for an aggregate price of approximately $2.2 million during the six months ended June 30, 2017. These shares have also been designated by the Corporation as treasury stock. Stock Option Activity Stock options were not granted to officers and employees during the six months ended June 30, 2017. The following table summarizes option activity for the periods presented: Number of Shares Weighted- Average Exercise Price Per Share Weighted- Average Remaining Term Aggregate Intrinsic Value (in millions) Outstanding shares at December 31, 2016 413,346 $ 13.99 0.8 years $ 4.6 Exercised (179,124 ) 17.98 Expired (4,426 ) 16.66 Outstanding shares at June 30, 2017 229,796 $ 10.83 0.7 years $ 3.6 Exercisable at June 30, 2017 229,796 $ 10.83 0.7 years $ 3.6 Nonvested Shares The following table summarizes nonvested share activity for the periods presented: Number of Shares Weighted- Average Grant Date Fair Value Outstanding shares at December 31, 2016 968,834 $ 22.63 Granted - Restricted Stock Units 214,895 23.90 Granted - Performance Share Units 185,993 23.90 Forfeited (93,752 ) 24.37 Vested (254,904 ) 24.04 Outstanding shares at June 30, 2017 1,021,066 $ 22.61 The weighted average remaining term and intrinsic value of non-vested shares as of June 30, 2017 was 1.8 years and $26.8 million, respectively.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2017
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 9—INCOME TAXES The provision for income taxes is based upon the Corporation's estimate of annual taxable income or loss for each respective accounting period. The following table summarizes our provision for income taxes for the periods presented (dollars in millions): Three Months Ended June 30, Six Months Ended June 30, 2016 2017 2016 2017 Provision for income taxes $ 1.7 $ 2.8 $ 2.5 $ 4.8 Total provision as a percentage of pre-tax income 40.1 % 37.3 % 27.2 % 36.8 % The increase in our provision for income taxes as a percentage of pre-tax income for the six months ended June 30, 2017 compared to the comparable 2016 period was primarily due to increases in pre-tax income and lower excess tax benefits from employee share-based compensation. The effective tax rate for the three months and six months ended June 30, 2017 is higher than the federal statutory rate largely as a result of the impact of state and local taxes. The Corporation derives a current federal and state income tax benefit from the impact of deductions associated with the amortization of tax deductible goodwill acquired through business combinations. The net tax basis of the Corporation's tax deductible goodwill was approximately $162.7 million and $184.5 million at December 31, 2016 and June 30, 2017, respectively. The future tax benefits of the tax-deductible goodwill are included in the Corporation's deferred tax assets. The Corporation recognizes an asset or liability for the deferred tax consequences of temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. These temporary differences will result in taxable or deductible amounts in future years when the reported amounts of the assets are recovered or liabilities are settled. The Corporation also recognizes as deferred tax assets the future tax benefits from net operating loss carryforwards. As of June 30, 2017, the Corporation had $33.4 million ($11.7 million tax benefit) of federal net operating loss carryforwards available. These net operating loss carryforwards resulted from the stock acquisitions the Corporation completed in 2013 and 2014 as well as net operating carryforwards generated by the Corporation. These net operating loss carryforwards are subject to limitations under Internal Revenue Code Section 382. However, the Corporation expects that it will be able to use the recorded amount which takes into account the limitations of the carryforwards. The Corporation has state net operating loss carryforwards representing a tax benefit of $5.5 million, net of valuation allowances. The net operating losses have carryforward periods ranging from 1 to 20 years depending on the taxing jurisdiction. A valuation allowance is provided for the Corporation's deferred tax assets if it is more likely than not that some portion or all of the net deferred tax assets will not be realized. The Corporation recognized net deferred tax assets totaling $9.2 million and $1.8 million at December 31, 2016 and June 30, 2017, respectively, net of state valuation allowances of $2.6 million. The Corporation has presented all deferred tax assets and liabilities as noncurrent on the accompanying condensed consolidated balance sheets as of June 30, 2017. As of December 31, 2016 and June 30, 2017, the Corporation had no reserves recorded for unrecognized tax benefits for U.S. federal and state tax jurisdictions. The federal statute of limitations remains open for tax years 2013 through 2015. State tax jurisdictions generally have statutes of limitation ranging from three to five years. The Corporation is generally no longer subject to state and local income tax examinations by tax authorities for years before 2011. The state income tax impact of federal income tax changes remains subject to examination by various states for a period of up to one year after formal notification of IRS settlement to the states.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2017
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	NOTE 10—EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share (dollars in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2016 2017 2016 2017 Numerator: Numerator for basic and diluted earnings per share - net income $ 2.5 $ 4.7 $ 6.6 $ 8.2 Denominator: Denominator for basic earnings per share - weighted average shares 30,728,592 31,440,495 30,628,145 31,141,560 Effect of dilutive securities (stock options, restricted stock units and performance share units) 299,582 246,029 375,000 339,168 Denominator for earnings per diluted share - adjusted weighted average shares 31,028,174 31,686,524 31,003,145 31,480,728 Basic earnings per share $ 0.08 $ 0.15 $ 0.22 $ 0.26 Earnings per diluted share $ 0.08 $ 0.15 $ 0.21 $ 0.26 Unexercised employee stock options and unvested restricted shares excluded from the effect of dilutive securities above (a) 892 - - - (a) These unexercised employee stock options, unvested restricted shares and performance shares that have not yet met performance conditions are not included in the computation of diluted earnings per share because to do so would be anti-dilutive for the periods presented. Stock options and restricted shares and units granted by the Corporation are treated as potential common shares outstanding in computing earnings per diluted share. Performance share units are treated as potential common shares outstanding in computing earnings per diluted share only when the performance conditions are met. Common shares repurchased by the Corporation reduce the number of basic shares used in the denominator for basic and diluted earnings per share.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2017
SUBSEQUENT EVENT [Abstract]
SUBSEQUENT EVENT	NOTE 11—SUBSEQUENT EVENT On August 1, 2017, the Corporation entered into an Agreement and Plan of Merger (the "Merger Agreement") with Phoenix Parent Holdings Inc., a Delaware corporation ("Parent"), and Phoenix Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("Merger Sub"), pursuant to which Merger Sub will be merged with and into the Corporation, with the Corporation continuing as the surviving corporation (the "Merger"). After the closing of the Merger, the Corporation will be a private company and a wholly-owned subsidiary of Parent. Parent and Merger Sub are affiliates of investment funds affiliated with Kohlberg Kravis Roberts & Co. L.P. and, at the closing of the Merger, affiliates of Walgreens Boots Alliance, Inc. will acquire a minority ownership interest in Parent. Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger, each share of common stock, $0.01 par value, of the Corporation outstanding immediately prior to the effective time will be converted into the right to receive an amount in cash equal to $29.25 per share, without interest. The Merger is subject to the approval of the Corporation's stockholders, regulatory approvals and other customary closing conditions as set forth in the Merger Agreement. The Merger is expected to be comple ted by early 2018.

ORGANIZATION AND SUMMARY OF S18

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2017
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Nature of Business	Nature of Business PharMerica Corporation together with its subsidiaries, (the "Corporation"), is a pharmacy services company that services healthcare facilities, provides pharmacy management services to hospitals, provides specialty infusion services to patients outside a hospital setting, and offers the only national oncology pharmacy in the United States. The Corporation is the second largest institutional pharmacy services company in the United States based on revenues and customer licensed beds under contract, operating 96 institutional pharmacies, 20 specialty home infusion pharmacies, and 5 specialty oncology pharmacies in 45 states. The Corporation's customers are institutional healthcare providers, such as skilled nursing facilities, assisted living facilities, hospitals, individuals receiving in-home care and patients with cancer.
Operating Segments	Operating Segments The Corporation consists of three operating segments: institutional pharmacy, specialty infusion services and specialty oncology pharmacy. Management believes the nature of the products and services are similar, the payers for the products and services are common among the segments and all segments operate in the healthcare regulatory environment. In addition, the segments are economically similar. Accordingly, management has aggregated the three operating segments into one reporting segment.
Principles of Consolidation	Principles of Consolidation All intercompany transactions have been eliminated. The Corporation has an investment in a long-term care pharmacy business that is accounted for by the equity method. This entity is not a variable interest entity and the Corporation's lack of majority voting rights precludes the Corporation from controlling this affiliate. Accordingly, the Corporation does not consolidate this affiliate, but rather applies the equity method of accounting. The Corporation's share of the net income or loss of this unconsolidated affiliate is included in operating income.
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all of the information and disclosures required by generally accepted accounting principles in the United States ("U.S. GAAP") for complete financial statements. Accordingly, the accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Corporation and related footnotes for the year ended December 31, 2016, included in the Corporation's Annual Report on Form 10-K. The balance sheet as of December 31, 2016 has been derived from the audited consolidated financial statements. The results of operations for the interim periods are not necessarily indicative of results of operations for a full year. It is the opinion of management that all necessary adjustments for a fair presentation of the condensed consolidated financial statements for the interim periods have been made and are of a normal recurring nature.
Use of Estimates	Use of Estimates The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP which requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates are involved in collectability of accounts receivable, revenue recognition, inventory valuation, supplier rebates and the valuation of long-lived assets and goodwill. Actual amounts may differ from these estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based upon assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Corporation follows a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs for which there is little or no market data, which require the Corporation to develop its own assumptions. Assets and liabilities measured at fair value are based on one or more of the following three valuation techniques: A. Market approach: B. Cost approach: C. Income approach: The financial liabilities recorded at fair value at December 31, 2016 and June 30, 2017 are set forth in the tables below (dollars in millions): As of December 31, 2016 Liability Level 1 Level 2 Level 3 Valuation Technique Financial Liability Deferred Compensation Plan $ (8.8 ) $ - $ (8.8 ) $ - A Contingent Considerations (8.1 ) - - (8.1 ) C Mandatorily Redeemable Interest (4.0 ) - - (4.0 ) C As of June 30, 2017 Liability Level 1 Level 2 Level 3 Valuation Technique Financial Liability Deferred Compensation Plan $ (10.8 ) $ - $ (10.8 ) $ - A Contingent Considerations (9.9 ) - - (9.9 ) C Mandatorily Redeemable Interest (4.0 ) - - (4.0 ) C The deferred compensation plan liability represents an obligation associated with the deferred compensation plan offered to eligible employees and members of the Board of Directors of the Corporation. The fair value of the liability associated with the deferred compensation plan is derived using pricing and other relevant information for investments in phantom shares of certain available investment options, primarily mutual funds. This liability is classified as other long-term liabilities in the accompanying condensed consolidated balance sheets. The contingent consideration represents future earn-outs associated with certain of the Corporation's acquisitions made in 2015, 2016 and 2017. The fair values of the liabilities associated with the contingent consideration were derived using the income approach with unobservable inputs, which included future gross profit forecasts and present value assumptions, and there was little or no market data. The Corporation assessed the fair values of the liabilities as of the acquisition date and will assess quarterly thereafter until settlement. These liabilities are classified as other current and long-term liabilities in the accompanying condensed consolidated balance sheets. The mandatorily redeemable interest represents a future obligation associated with the Corporation's acquisition of a specialty pharmacy business, OncoMed Specialty, LLC ("Onco") in which the Corporation made its initial purchase of interests on December 6, 2013 and its purchase of additional interests in December 2016. The mandatorily redeemable interest is classified as a long-term liability and measured at fair value. The fair value was derived using the income approach with unobservable inputs, which included a future gross profit forecast and present value assumptions, and there was little or no market data. The Corporation assessed and adjusted the mandatorily redeemable interest liability to estimated fair value at December 31, 2016. This liability is classified as other long-term liabilities in the accompanying condensed consolidated balance sheets. For the year ended December 31, 2016 and the six months ended June 30, 2017, there were no transfers between the valuation hierarchy Levels 1, 2, and 3. The following table summarizes the change in fair value of the Corporation's contingent consideration and mandatorily redeemable interest identified as Level 3 for the year ended December 31, 2016 and the six months ended June 30, 2017 (in millions): Contingent Consideration Mandatorily Redeemable Interest Beginning balance, December 31, 2015 $ 11.5 $ 5.8 Additions from business acquisitions 1.4 - Contingent consideration payment (3.9 ) - Change in fair value (0.9 ) (1.8 ) Balance at December 31, 2016 8.1 4.0 Additions from business acquisitions 5.9 - Contingent consideration payment (3.9 ) - Change in fair value (0.2 ) - Balance, June 30, 2017 $ 9.9 $ 4.0 The carrying amounts reported in the accompanying condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, inventory and accounts payable approximate fair value because of the short-term maturity of these instruments. The Corporation's debt approximates fair value due to the terms of the interest being set at variable market interest rates (Level 2).
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable primarily consist of amounts due from Prescription Drug Plans ("PDPs") under Medicare Part D, institutional healthcare providers, the respective state Medicaid programs, third party insurance companies, and private payers. The Corporation's ability to collect outstanding receivables is critical to its results of operations and cash flows. To provide for accounts receivable that could become uncollectible in the future, the Corporation establishes an allowance for doubtful accounts to reduce the carrying value of such receivables to the extent it is probable that a portion or all of a particular account will not be collected. The Corporation has an established process to determine the adequacy of the allowance for doubtful accounts, which relies on analytical tools, specific identification, and benchmarks to arrive at a reasonable allowance. No single statistic or measurement determines the adequacy of the allowance for doubtful accounts. The Corporation monitors and reviews trends by payer classification along with the composition of the Corporation's accounts receivable aging. This review is focused primarily on trends in private and other payers, PDPs, dual eligible co-payments, historic payment patterns of long-term care institutions, and monitoring respective credit risks. In addition, the Corporation analyzes other factors such as revenue days in accounts receivables, denial trends by payer types, payment patterns by payer types, subsequent cash collections, and current events that may impact payment patterns of the Corporation's long-term care institution customers. Accounts receivable are written off after collection efforts have been completed in accordance with the Corporation's policies. The Corporation's accounts receivable and summarized aging categories are as follows (dollars in millions): December 31, June 30, 2016 2017 Institutional healthcare providers $ 138.2 $ 138.5 Medicare Part D 42.5 51.8 Private payer and other 28.1 27.0 Insured 38.7 41.0 Medicaid 15.6 18.7 Medicare 3.4 2.4 Allowance for doubtful accounts (31.1 ) (32.8 ) $ 235.4 $ 246.6 0 to 60 days 62.9 % 64.5 % 61 to 120 days 15.7 % 14.8 % Over 120 days 21.4 % 20.7 % 100.0 % 100.0 % The following is a summary of activity in the Corporation's allowance for doubtful accounts (dollars in millions): Beginning Balance Charges Included in Selling, General & Administrative Expenses Write-offs Ending Balance Allowance for doubtful accounts: Year Ended December 31, 2016 $ 49.3 $ 6.3 $ (24.5 ) $ 31.1 Six Months Ended June 30, 2017 $ 31.1 $ 6.6 $ (4.9 ) $ 32.8 Bad debt expense for the year ended December 31, 2016 was favorably impacted by approximately $5.6 million related to collections of certain previously reserved receivables under note agreements and the settlement of a customer's trade receivable of $3.2 million.
Restructuring and Impairment Charges	Restructuring and Impairment Charges Restructuring and impairment charges in the condensed consolidated financial statements represent amounts expensed for purposes of realigning corporate and pharmacy locations.
Mandatorily Redeemable Interest	Mandatorily Redeemable Interest On December 6, 2013, the Corporation acquired 37.5% of the membership interests of Onco while also obtaining control of the business. Following the Corporation's exercise of its rights to purchase additional interests of Onco in December 2016, the Corporation owns an aggregate of 81.5% of the membership interests of Onco as of June 30, 2017. The subsidiary is consolidated in the Corporation's condensed consolidated financial statements and the mandatorily redeemable interest is classified as debt within other long-term liabilities in the condensed consolidated balance sheets.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, "Leases", which generally requires companies to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet. This guidance will be adopted in the first quarter of 2019 on a modified retrospective basis. The Corporation is still evaluating the effect that this guidance will have on its condensed consolidated financial statements and related disclosures. In November 2015, the FASB issued ASU No. 2015-17, "Balance Sheet Classification of Deferred Taxes" related to accounting for income taxes which changes the balance sheet classification of deferred taxes, requiring deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The new guidance is effective for the Corporation beginning with annual and interim periods in 2017, with early adoption permitted. The Corporation adopted this ASU beginning January 1, 2017. The Corporation no longer presents a current deferred tax asset and a noncurrent deferred tax liability. Instead those amounts are combined to a net noncurrent deferred tax asset on its condensed consolidated balance sheets as of December 31, 2016 and June 30, 2017. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers", which amends the existing accounting standards for revenue recognition. In August 2015, the FASB issued ASU No. 2015-14, which delayed the effective date of ASU 2014-09 by one year. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, "Revenue from Contracts with Customers: Principal versus Agent Considerations" which clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The Corporation currently anticipates adopting the new standard effective January 1, 2018. The new standard also permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Corporation currently anticipates adopting the standard using the modified retrospective method. Since the Corporation is still in the process of completing its analysis on the impact this guidance will have on its condensed consolidated financial statements and related disclosures, the Corporation is not able to determine if it will have a material impact on its condensed consolidated financial statements.

ORGANIZATION AND SUMMARY OF S19

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2017
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Schedule of Financial Liabilities and Non-Financial Assets Recorded at Fair Value	The financial liabilities recorded at fair value at December 31, 2016 and June 30, 2017 are set forth in the tables below (dollars in millions): As of December 31, 2016 Liability Level 1 Level 2 Level 3 Valuation Technique Financial Liability Deferred Compensation Plan $ (8.8 ) $ - $ (8.8 ) $ - A Contingent Considerations (8.1 ) - - (8.1 ) C Mandatorily Redeemable Interest (4.0 ) - - (4.0 ) C As of June 30, 2017 Liability Level 1 Level 2 Level 3 Valuation Technique Financial Liability Deferred Compensation Plan $ (10.8 ) $ - $ (10.8 ) $ - A Contingent Considerations (9.9 ) - - (9.9 ) C Mandatorily Redeemable Interest (4.0 ) - - (4.0 ) C
Schedule of Contingent Consideration and Mandatorily Redeemable Interest Identified as Level 3	For the year ended December 31, 2016 and the six months ended June 30, 2017, there were no transfers between the valuation hierarchy Levels 1, 2, and 3. The following table summarizes the change in fair value of the Corporation's contingent consideration and mandatorily redeemable interest identified as Level 3 for the year ended December 31, 2016 and the six months ended June 30, 2017 (in millions): Contingent Consideration Mandatorily Redeemable Interest Beginning balance, December 31, 2015 $ 11.5 $ 5.8 Additions from business acquisitions 1.4 - Contingent consideration payment (3.9 ) - Change in fair value (0.9 ) (1.8 ) Balance at December 31, 2016 8.1 4.0 Additions from business acquisitions 5.9 - Contingent consideration payment (3.9 ) - Change in fair value (0.2 ) - Balance, June 30, 2017 $ 9.9 $ 4.0
Schedule of Accounts Receivable and Summarized Aging Categories	The Corporation's accounts receivable and summarized aging categories are as follows (dollars in millions): December 31, June 30, 2016 2017 Institutional healthcare providers $ 138.2 $ 138.5 Medicare Part D 42.5 51.8 Private payer and other 28.1 27.0 Insured 38.7 41.0 Medicaid 15.6 18.7 Medicare 3.4 2.4 Allowance for doubtful accounts (31.1 ) (32.8 ) $ 235.4 $ 246.6 0 to 60 days 62.9 % 64.5 % 61 to 120 days 15.7 % 14.8 % Over 120 days 21.4 % 20.7 % 100.0 % 100.0 %
Schedule of Allowance for Doubtful Accounts	The following is a summary of activity in the Corporation's allowance for doubtful accounts (dollars in millions): Beginning Balance Charges Included in Selling, General & Administrative Expenses Write-offs Ending Balance Allowance for doubtful accounts: Year Ended December 31, 2016 $ 49.3 $ 6.3 $ (24.5 ) $ 31.1 Six Months Ended June 30, 2017 $ 31.1 $ 6.6 $ (4.9 ) $ 32.8

GOODWILL AND INTANGIBLES (Table

GOODWILL AND INTANGIBLES (Tables)	6 Months Ended
	Jun. 30, 2017
GOODWILL AND INTANGIBLES [Abstract]
Schedule of Finite Lived Intangible Assets	The following table presents the components of the Corporation's finite lived intangible assets (dollars in millions): Finite Lived Intangible Assets Balance at December 31, 2016 Additions Balance at June 30, 2017 Customer relationships $ 245.7 $ 13.9 $ 259.6 Trade name 64.0 4.1 68.1 Non-compete agreements 22.2 1.0 23.2 Sub Total 331.9 19.0 350.9 Accumulated amortization (144.3 ) (19.0 ) (163.3 ) Net intangible assets $ 187.6 $ - $ 187.6

CREDIT AGREEMENT (Tables)

CREDIT AGREEMENT (Tables)	6 Months Ended
	Jun. 30, 2017
CREDIT AGREEMENT [Abstract]
Schedule of Term Debt and Revolving Credit Facility	The table below summarizes the total outstanding debt of the Corporation (dollars in millions): December 31, 2016 June 30, 2017 Term Debt - payable to lenders at LIBOR plus applicable margin (3.48% as of June 30, 2017), matures September 17, 2019 $ 297.2 $ 289.7 Revolving Credit Facility payable to lenders, interest at LIBOR plus applicable margin (3.45% as of June 30, 2017), matures September 17, 2019 176.5 143.5 Deferred financing costs, net (1.9 ) (1.6 ) Capital lease obligations 1.6 1.3 Total debt 473.4 432.9 Less: Current portion of long-term debt 15.6 15.5 Total long-term debt $ 457.8 $ 417.4
Schedule of Indebtedness Maturities	The Corporation's indebtedness has the following maturities as of June 30, 2017 (dollars in millions): Year Ending December 31, Term Debt Revolving Credit Facility Deferred Financing Costs Capital Lease Obligations Total Maturities 2017 $ 7.5 $ - $ (0.4 ) $ 0.3 $ 7.4 2018 15.0 - (0.7 ) 0.4 14.7 2019 267.2 143.5 (0.5 ) 0.4 410.6 2020 - - - 0.2 0.2 $ 289.7 $ 143.5 $ (1.6 ) $ 1.3 $ 432.9

RESTRUCTURING COSTS AND OTHER22

RESTRUCTURING COSTS AND OTHER CHARGES (Tables)	6 Months Ended
	Jun. 30, 2017
RESTRUCTURING COSTS AND OTHER CHARGES [Abstract]
Components of Restructuring Liability	The following table presents the components of the Corporation's restructuring liability (dollars in millions): Balance at December 31, 2016 Accrual Utilized Amounts Balance at June 30, 2017 Employee Severance and related costs $ 0.2 $ - $ (0.1 ) $ 0.1 Facility costs 0.4 0.1 (0.2 ) 0.3 $ 0.6 $ 0.1 $ (0.3 ) $ 0.4

TREASURY STOCK, STOCK-BASED C23

TREASURY STOCK, STOCK-BASED COMPENSATION AND OTHER BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2017
TREASURY STOCK, STOCK-BASED COMPENSATION AND OTHER BENEFITS [Abstract]
Schedule of Stock Option Activity	Stock options were not granted to officers and employees during the six months ended June 30, 2017. The following table summarizes option activity for the periods presented: Number of Shares Weighted- Average Exercise Price Per Share Weighted- Average Remaining Term Aggregate Intrinsic Value (in millions) Outstanding shares at December 31, 2016 413,346 $ 13.99 0.8 years $ 4.6 Exercised (179,124 ) 17.98 Expired (4,426 ) 16.66 Outstanding shares at June 30, 2017 229,796 $ 10.83 0.7 years $ 3.6 Exercisable at June 30, 2017 229,796 $ 10.83 0.7 years $ 3.6
Schedule of Nonvested Share Activity	The following table summarizes nonvested share activity for the periods presented: Number of Shares Weighted- Average Grant Date Fair Value Outstanding shares at December 31, 2016 968,834 $ 22.63 Granted - Restricted Stock Units 214,895 23.90 Granted - Performance Share Units 185,993 23.90 Forfeited (93,752 ) 24.37 Vested (254,904 ) 24.04 Outstanding shares at June 30, 2017 1,021,066 $ 22.61

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2017
INCOME TAXES [Abstract]
Schedule of Provision for Income Taxes	The provision for income taxes is based upon the Corporation's estimate of annual taxable income or loss for each respective accounting period. The following table summarizes our provision for income taxes for the periods presented (dollars in millions): Three Months Ended June 30, Six Months Ended June 30, 2016 2017 2016 2017 Provision for income taxes $ 1.7 $ 2.8 $ 2.5 $ 4.8 Total provision as a percentage of pre-tax income 40.1 % 37.3 % 27.2 % 36.8 %

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2017
EARNINGS PER SHARE [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (dollars in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2016 2017 2016 2017 Numerator: Numerator for basic and diluted earnings per share - net income $ 2.5 $ 4.7 $ 6.6 $ 8.2 Denominator: Denominator for basic earnings per share - weighted average shares 30,728,592 31,440,495 30,628,145 31,141,560 Effect of dilutive securities (stock options, restricted stock units and performance share units) 299,582 246,029 375,000 339,168 Denominator for earnings per diluted share - adjusted weighted average shares 31,028,174 31,686,524 31,003,145 31,480,728 Basic earnings per share $ 0.08 $ 0.15 $ 0.22 $ 0.26 Earnings per diluted share $ 0.08 $ 0.15 $ 0.21 $ 0.26 Unexercised employee stock options and unvested restricted shares excluded from the effect of dilutive securities above (a) 892 - - - (a) These unexercised employee stock options, unvested restricted shares and performance shares that have not yet met performance conditions are not included in the computation of diluted earnings per share because to do so would be anti-dilutive for the periods presented.

ORGANIZATION AND SUMMARY OF S26

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Jun. 30, 2017PharmacyStateSegment	Dec. 06, 2013
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Number of operating institutional pharmacies	96
Number of specialty infusion pharmacies	20
Number of specialty oncology pharmacies	5
Number of states in which there are institutional pharmacies | State	45
Number of operating segments | Segment	3
Number of reportable segments | Segment	1
OncoMed Specialty, LLC [Member]
Business Acquisition [Line Items]
Percentage of ownership acquired	81.50%	37.50%

ORGANIZATION AND SUMMARY OF S27

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Fair Value of Financial Instruments (Details) - Recurring [Member] - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Market Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan	$ (10.8)	$ (8.8)
Income Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	(9.9)	(8.1)
Mandatorily redeemable interest	(4)	(4)
Level 1 [Member] | Market Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan	0	0
Level 1 [Member] | Income Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Mandatorily redeemable interest	0	0
Level 2 [Member] | Market Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan	(10.8)	(8.8)
Level 2 [Member] | Income Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Mandatorily redeemable interest	0	0
Level 3 [Member] | Market Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan	0	0
Level 3 [Member] | Income Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	(9.9)	(8.1)
Mandatorily redeemable interest	$ (4)	$ (4)

ORGANIZATION AND SUMMARY OF S28

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Summary of contingent consideration (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Contingent Consideration [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Beginning balance	$ 8.1	$ 11.5
Additions from business acquisitions	5.9	1.4
Contingent consideration payment	(3.9)	(3.9)
Change in fair value	(0.2)	(0.9)
Ending balance	9.9	8.1
Mandatorily Redeemable Interest [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Beginning balance	4	5.8
Additions from business acquisitions	0	0
Contingent consideration payment	0	0
Change in fair value	0	(1.8)
Ending balance	$ 4	$ 4

ORGANIZATION AND SUMMARY OF S29

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Accounts Receivable and Summarized Aging Categories (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts	$ (32.8)	$ (31.1)	$ (49.3)
Accounts receivable, net	$ 246.6	$ 235.4
0 to 60 days	64.50%	62.90%
61 to 120 days	14.80%	15.70%
Over 120 days	20.70%	21.40%
Percentage past due	100.00%	100.00%
Institutional Healthcare Providers [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 138.5	$ 138.2
Medicare Part D [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	51.8	42.5
Private Payer and Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	27	28.1
Insured [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	41	38.7
Medicaid [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	18.7	15.6
Medicare [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 2.4	$ 3.4

ORGANIZATION AND SUMMARY OF S30

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	$ 31.1	$ 49.3
Charges included in selling, general & administrative expenses	6.6	6.3
Write-offs	(4.9)	(24.5)
Ending balance	$ 32.8	31.1
Bad debt expense		5.6
Settlement of accounts receivable		$ 3.2

ACQUISITIONS (Details)

ACQUISITIONS (Details) $ in Millions	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)AcquisitionHospital	Jun. 30, 2016USD ($)	Sep. 30, 2016USD ($)Acquisition	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Tax deductible goodwill	$ 184.5		$ 184.5			$ 162.7
Acquisition costs	3.6	$ 4.4	$ 7.1	$ 8.7
2017 Acquisitions [Member]
Business Acquisition [Line Items]
Number of acquisitions of infusion business completed | Acquisition			1
Number of oncology aqcuisitions | Hospital			1
Estimated purchase price			$ 44
Recorded goodwill in transaction	30.6		30.6
Identifiable intangibles acquired	16.9		16.9
Tax deductible goodwill	$ 29.9		$ 29.9
2016 Acquisitions [Member]
Business Acquisition [Line Items]
Number of acquisitions of long-term care businesses completed | Acquisition					4
Number of acquisitions of infusion business completed | Acquisition					2
Recorded goodwill in transaction					$ 19.4
Identifiable intangibles acquired					32
Tax deductible goodwill					$ 10.8

GOODWILL AND INTANGIBLES (Detai

GOODWILL AND INTANGIBLES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
GOODWILL AND INTANGIBLES [Abstract]
Carrying amount of goodwill	$ 422.9		$ 422.9		$ 392.3
Amortization expense	$ 9.9	$ 8.2	$ 19	$ 16.4

GOODWILL AND INTANGIBLES, Sched

GOODWILL AND INTANGIBLES, Schedule of Finite Lived Intangible Assets (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Subtotal, beginning balance	$ 331.9
Subtotal, additions	19
Subtotal, ending balance	350.9
Accumulated amortization, beginning balance	(144.3)
Accumulated amortization, additions	(19)
Accumulated amortization, ending balance	(163.3)
Net intangible assets, beginning balance	187.6
Net intangible assets, Additions	0
Net intangible assets, ending balance	187.6
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Subtotal, beginning balance	245.7
Subtotal, additions	13.9
Subtotal, ending balance	259.6
Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Subtotal, beginning balance	64
Subtotal, additions	4.1
Subtotal, ending balance	68.1
Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Subtotal, beginning balance	22.2
Subtotal, additions	1
Subtotal, ending balance	$ 23.2

CREDIT AGREEMENT (Details)

CREDIT AGREEMENT (Details) - USD ($) $ in Millions	Dec. 09, 2016	Jun. 30, 2017	Sep. 17, 2014
Term Debt [Member]
Line of Credit Facility [Line Items]
Credit agreement maximum borrowing capacity			$ 225
Additional advance to outstanding line of credit	$ 89.1
Debt instrument maturity date		Sep. 17, 2019
Term Debt [Member] | Credit Agreement First Amendment [Member]
Line of Credit Facility [Line Items]
Letters of Credit outstanding	210.9
Increased amount of line of credit outstanding	300
Term Debt [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Variable interest rate		3.48%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit agreement maximum borrowing capacity			$ 310
Debt instrument maturity date		Sep. 17, 2019
Revolving Credit Facility [Member] | Credit Agreement First Amendment [Member]
Line of Credit Facility [Line Items]
Credit agreement maximum borrowing capacity	370
Revolving Credit Facility [Member] | 2014 Credit Agreement [Member]
Line of Credit Facility [Line Items]
Total availability under the revolving credit facility		$ 223.7
Revolving Credit Facility [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Variable interest rate		3.45%
Letters of Credit [Member] | Credit Agreement First Amendment [Member]
Line of Credit Facility [Line Items]
Letters of Credit outstanding	190
Increased amount of line of credit outstanding	$ 200
Letters of Credit [Member] | 2014 Credit Agreement [Member]
Line of Credit Facility [Line Items]
Letters of Credit outstanding		$ 2.8

CREDIT AGREEMENT, Schedule of T

CREDIT AGREEMENT, Schedule of Term Debt and Revolving Credit Facility (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Total debt	$ 432.9	$ 473.4
Deferred financing fees, net	(1.6)	(1.9)
Less: Current portion of long-term debt	15.5	15.6
Total long-term debt	417.4	457.8
Term Debt [Member]
Line of Credit Facility [Line Items]
Total debt	289.7
Term Debt [Member] | 2014 Credit Agreement [Member]
Line of Credit Facility [Line Items]
Total debt	289.7	297.2
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Total debt	143.5
Revolving Credit Facility [Member] | 2014 Credit Agreement [Member]
Line of Credit Facility [Line Items]
Total debt	143.5	176.5
Capital Lease Obligations [Member]
Line of Credit Facility [Line Items]
Total debt	$ 1.3	$ 1.6

CREDIT AGREEMENT, Schedule of I

CREDIT AGREEMENT, Schedule of Indebtedness Maturities (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Long-term Debt [Abstract]
Total debt	$ 432.9	$ 473.4
Deferred Financing Costs [Abstract]
2,017	(0.4)
2,018	(0.7)
2,019	(0.5)
2,020	0
Total Deferred Financing Costs	(1.6)	$ (1.9)
Capital Lease Obligation [Abstract]
2,017	0.3
2,018	0.4
2,019	0.4
2,020	0.2
Total Capital Lease Obligations	1.3
Total Maturities [Abstract]
2,017	7.4
2,018	14.7
2,019	410.6
2,020	0.2
Total Maturities	432.9
Term Debt [Member]
Long-term Debt [Abstract]
2,017	7.5
2,018	15
2,019	267.2
2,020	0
Total debt	289.7
Revolving Credit Facility [Member]
Long-term Debt [Abstract]
2,017	0
2,018	0
2,019	143.5
2,020	0
Total debt	$ 143.5

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Gain Contingencies [Line Items]
Accrual settlement, litigation and other related charges	$ 8
ABDC litigation [Member]
Gain Contingencies [Line Items]
Accrual settlement, litigation and other related charges				$ 40.8
Billed contracts receivable			$ 19.3	12.2
Total rebate receivable end of period		$ 72.3		$ 53
Gross liability offset to the condensed consolidated balance sheet			$ 48.9
Net rebate receivable		$ 23.4

MERGER, ACQUISITION, INTEGRAT38

MERGER, ACQUISITION, INTEGRATION COSTS AND OTHER CHARGES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
MERGER, ACQUISITION, INTEGRATION COSTS AND OTHER CHARGES [Abstract]
Merger, acquisition, integration costs and other charges	$ 3.6	$ 4.4	$ 7.1	$ 8.8

RESTRUCTURING COSTS AND OTHER39

RESTRUCTURING COSTS AND OTHER CHARGES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment charges	$ 0	$ 1.1	$ 0.1	$ 2.5
Restructuring Reserve [Roll Forward]
Beginning balance			0.6
Accrual			0.1
Utilized amounts			(0.3)
Ending balance	0.4		0.4
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment charges	0.1
Employee Severance and Related Costs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			0.2
Accrual			0
Utilized amounts			(0.1)
Ending balance	0.1		0.1
Facility Costs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			0.4
Accrual			0.1
Utilized amounts			(0.2)
Ending balance	$ 0.3		$ 0.3

TREASURY STOCK, STOCK-BASED C40

TREASURY STOCK, STOCK-BASED COMPENSATION AND OTHER BENEFITS (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Aug. 31, 2010	Jun. 30, 2017	Jul. 02, 2012
Class of Stock [Line Items]
Aggregate price of shares redeemed		$ 2.2
Treasury Stock [Member]
Class of Stock [Line Items]
Common stock shares repurchased	$ 10.5
Commont stock shares repurchase program, remaining authorized repurchase amount		$ 19.7
Vested awards redeemed (in shares)		94,693
Aggregate price of shares redeemed		$ 2.2
Treasury Stock [Member] | Maximum [Member]
Class of Stock [Line Items]
Common stock shares repurchase authorized, value	$ 25		$ 25

TREASURY STOCK, STOCK-BASED C41

TREASURY STOCK, STOCK-BASED COMPENSATION AND OTHER BENEFITS, Schedule of Stock Option Activity (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Number of Shares [Roll Forward]
Outstanding options, beginning (in shares)	413,346
Exercised (in shares)	(179,124)
Expired (in shares)	(4,426)
Outstanding options, ending (in shares)	229,796	413,346
Exercisable options at end of year (in shares)	229,796
Weighted Average Exercise Price Per Share [Abstract]
Outstanding, beginning (in dollars per share)	$ 13.99
Exercised (in dollars per share)	17.98
Expired (in dollars per share)	16.66
Outstanding, ending (in dollars per share)	10.83	$ 13.99
Exercisable (in dollars per share)	$ 10.83
Weighted Average Remaining Term and Aggregate Intrinsic Value [Abstract]
Weighted-average remaining term, outstanding	8 months 12 days	9 months 18 days
Weighted-average remaining term, exercisable	8 months 12 days
Aggregate intrinsic value, outstanding, beginning	$ 4.6
Aggregate intrinsic value, outstanding, ending	3.6	$ 4.6
Aggregate intrinsic value, exercisable	$ 3.6

TREASURY STOCK, STOCK-BASED C42

TREASURY STOCK, STOCK-BASED COMPENSATION AND OTHER BENEFITS, Schedule of Nonvested Share Activity (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Weighted-Average Grant Date Fair Value [Roll Forward]
Weighted average remaining term of nonvested shares	1 year 9 months 18 days
Intrinsic value of nonvested shares | $	$ 26.8
Nonvested Restricted Stock Units [Member]
Number of Shares [Roll Forward]
Outstanding, beginning (in shares) | shares	968,834
Granted (in shares) | shares	214,895
Forfeited (in shares) | shares	(93,752)
Vested (in shares) | shares	(254,904)
Outstanding, ending (in shares) | shares	1,021,066
Weighted-Average Grant Date Fair Value [Roll Forward]
Outstanding, beginning (in dollars per share) | $ / shares	$ 22.63
Granted (in dollars per share) | $ / shares	23.90
Forfeited (in dollars per share) | $ / shares	24.37
Vested (in dollars per share) | $ / shares	24.04
Outstanding, ending (in dollars per share) | $ / shares	$ 22.61
Performance Share Units [Member]
Number of Shares [Roll Forward]
Granted (in shares) | shares	185,993
Weighted-Average Grant Date Fair Value [Roll Forward]
Granted (in dollars per share) | $ / shares	$ 23.90

INCOME TAXES, Schedule of Provi

INCOME TAXES, Schedule of Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
INCOME TAXES [Abstract]
Provision for income taxes	$ 2.8	$ 1.7	$ 4.8	$ 2.5
Total provision as a percentage of pre-tax income	37.30%	40.10%	36.80%	27.20%
Tax deductible goodwill	$ 184.5		$ 184.5		$ 162.7

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Deferred tax assets, total	$ 1.8	$ 9.2
Unrecognized tax benefits	$ 0	0
Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Statute of limitations for tax examinations	1 year
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforward period	1 year
Open tax year	2,013
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforward period	20 years
Open tax year	2,015
U.S. Federal Tax Jurisdictions [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 33.4
Tax benefit from net operating loss carryforwards	11.7
State [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	5.5
Valuation allowances	$ 2.6	$ 2.6
State [Member] | Minimum [Member]
Operating Loss Carryforwards [Line Items]
Statute of limitations for tax examinations	3 years
State [Member] | Maximum [Member]
Operating Loss Carryforwards [Line Items]
Statute of limitations for tax examinations	5 years

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator [Abstract]
Numerator for basic and diluted earnings per share - net income		$ 4.7	$ 2.5	$ 8.2	$ 6.6
Denominator [Abstract]
Denominator for basic earnings per share - weighted average shares (in shares)		31,440,495	30,728,592	31,141,560	30,628,145
Effect of dilutive securities (stock options, restricted stock units and performance share units) (in shares)		246,029	299,582	339,168	375,000
Denominator for earnings per diluted share - adjusted weighted average shares (in shares)		31,686,524	31,028,174	31,480,728	31,003,145
Basic earnings per share (in dollars per share)		$ 0.15	$ 0.08	$ 0.26	$ 0.22
Earnings per diluted share (in dollars per share)		$ 0.15	$ 0.08	$ 0.26	$ 0.21
Unexercised employee stock options and unvested restricted shares excluded from the effect of dilutive securities (in shares)	[1]	0	892	0	0
[1]	These unexercised employee stock options, unvested restricted shares and performance shares that have not yet met performance conditions are not included in the computation of diluted earnings per share because to do so would be anti-dilutive for the periods presented.

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - $ / shares	Aug. 01, 2017	Jun. 30, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Common stock, price per share (in dollars per share)	$ 29.25