Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 01, 2014 | Jun. 30, 2013 | |
Document and Entity Information | ' | ' | ' |
Entity Registrant Name | 'Envision Healthcare Holdings, Inc. | ' | ' |
Entity Central Index Key | '0001578318 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
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 | 'Non-accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $0 |
Entity Common Stock, Shares Outstanding | ' | 181,131,273 | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 24-May-11 |
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $204,712 | $57,832 | $134,023 | $286,548 |
Insurance collateral | 29,619 | 24,481 | ' | ' |
Trade and other accounts receivable, net | 801,146 | 625,144 | ' | ' |
Parts and supplies inventory | 23,376 | 22,050 | ' | ' |
Prepaids and other current assets | 23,430 | 23,752 | ' | ' |
Total current assets | 1,082,283 | 753,259 | ' | ' |
Non-current assets: | ' | ' | ' | ' |
Property, plant and equipment, net | 194,715 | 191,864 | ' | ' |
Intangible assets, net | 513,698 | 564,218 | 564,227 | ' |
Insurance collateral | 12,716 | 20,760 | ' | ' |
Goodwill | 2,435,670 | 2,413,632 | 2,153,014 | ' |
Other long-term assets | 60,935 | 93,100 | ' | ' |
Total assets | 4,300,017 | 4,036,833 | 3,778,496 | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 52,588 | 53,909 | ' | ' |
Accrued liabilities | 350,936 | 388,935 | ' | ' |
Current deferred tax liabilities | 35,487 | 23,568 | ' | ' |
Current portion of long-term debt | 12,318 | 12,282 | ' | ' |
Total current liabilities | 451,329 | 478,694 | ' | ' |
Long-term debt | 1,895,381 | 2,647,098 | ' | ' |
Long-term deferred tax liabilities | 151,130 | 156,761 | ' | ' |
Insurance reserves | 175,427 | 189,373 | ' | ' |
Other long-term liabilities | 16,997 | 20,220 | ' | ' |
Total liabilities | 2,690,264 | 3,492,146 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Equity: | ' | ' | ' | ' |
Common stock ($0.01 par value; 2,000,000,000 shares authorized, 180,382,885 and 130,661,627 issued and outstanding as of December 31, 2013 and 2012, respectively) | 1,804 | 1,307 | ' | ' |
Preferred stock ($0.01 par value; 200,000,000 shares authorized, none issued and outstanding as of December 31, 2013 and 2012) | ' | ' | ' | ' |
Treasury stock at cost | -1,347 | -381 | ' | ' |
Additional paid-in capital | 1,576,764 | 525,098 | ' | ' |
Retained earnings | 18,341 | 12,346 | ' | ' |
Accumulated other comprehensive loss | -839 | -213 | -2,702 | ' |
Total stockholders' equity | 1,594,723 | 538,157 | ' | ' |
Noncontrolling interest | 15,030 | 6,530 | ' | ' |
Total equity | 1,609,753 | 544,687 | 913,490 | ' |
Total liabilities and equity | $4,300,017 | $4,036,833 | ' | ' |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Balance Sheets | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued | 180,382,885 | 130,661,627 |
Common stock, shares outstanding | 180,382,885 | 130,661,627 |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 200,000,000 | 200,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive Income (USD $) | 3 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | ||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 |
Predecessor | ||||||||||||
Revenue, net of contractual discounts | ' | ' | ' | ' | ' | ' | ' | ' | $3,146,039 | $6,771,522 | $5,834,632 | $2,053,311 |
Provision for uncompensated care | ' | ' | ' | ' | ' | ' | ' | ' | -1,260,228 | -3,043,210 | -2,534,511 | -831,521 |
Net revenue | 984,845 | 955,888 | 899,255 | 888,324 | 871,918 | 820,811 | 801,098 | 806,294 | 1,885,811 | 3,728,312 | 3,300,121 | 1,221,790 |
Compensation and benefits | ' | ' | ' | ' | ' | ' | ' | ' | 1,311,060 | 2,667,439 | 2,307,628 | 874,633 |
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 259,639 | 424,865 | 421,424 | 156,740 |
Insurance expense | ' | ' | ' | ' | ' | ' | ' | ' | 65,030 | 106,293 | 97,950 | 47,229 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 44,355 | 106,659 | 78,540 | 29,241 |
Depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | 71,312 | 140,632 | 123,751 | 28,467 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | 6,483 | 5,669 | 14,086 | ' |
Income from operations | 84,687 | 63,503 | 65,703 | 62,862 | 75,366 | 68,624 | 60,256 | 52,496 | 127,932 | 276,755 | 256,742 | 85,480 |
Interest income from restricted assets | ' | ' | ' | ' | ' | ' | ' | ' | 1,950 | 792 | 625 | 1,124 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -104,701 | -186,701 | -182,607 | -7,886 |
Realized gains (losses) on investments | ' | ' | ' | ' | ' | ' | ' | ' | 41 | 471 | 394 | -9 |
Interest and other (expense) income | ' | ' | ' | ' | ' | ' | ' | ' | -3,151 | -12,760 | 1,422 | -28,873 |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -68,379 | -8,307 | -10,069 |
Income before income taxes and equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 22,071 | 10,178 | 68,269 | 39,767 |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -9,328 | 994 | -27,463 | -19,242 |
Income before equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 12,743 | 11,172 | 40,806 | 20,525 |
Equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 276 | 323 | 379 | 143 |
Net income | 13,408 | -7,663 | 9,597 | -3,847 | 12,343 | 15,209 | 7,841 | 5,792 | 13,019 | 11,495 | 41,185 | 20,668 |
Less: Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,500 | ' | ' |
Net income | 7,908 | -7,663 | 9,597 | -3,847 | 12,343 | 15,209 | 7,841 | 5,792 | 13,019 | 5,995 | 41,185 | 20,668 |
Basic net income per share attributable to Envision Healthcare Holdings, Inc. (in dollars per share) | $0.04 | ($0.05) | $0.07 | ($0.03) | $0.09 | $0.12 | $0.06 | $0.04 | $0.10 | $0.04 | $0.32 | $0.05 |
Diluted net income per share attributable to Envision Healthcare Holdings, Inc. (in dollars per share) | $0.04 | ($0.05) | $0.07 | ($0.03) | $0.09 | $0.11 | $0.06 | $0.04 | $0.10 | $0.04 | $0.31 | $0.05 |
Average common shares outstanding, basic (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 129,469,067 | 150,156,216 | 130,228,970 | 411,757,044 |
Average common shares outstanding, diluted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 130,833,200 | 156,962,385 | 132,945,862 | 417,085,451 |
Comprehensive Income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 13,408 | -7,663 | 9,597 | -3,847 | 12,343 | 15,209 | 7,841 | 5,792 | 13,019 | 11,495 | 41,185 | 20,668 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding (losses) gains during the period | ' | ' | ' | ' | ' | ' | ' | ' | -41 | -892 | 1,632 | 182 |
Unrealized gains (losses) on derivative financial instruments | ' | ' | ' | ' | ' | ' | ' | ' | -2,661 | 266 | 857 | 25 |
Total other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -2,702 | -626 | 2,489 | 207 |
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | 10,317 | 10,869 | 43,674 | 20,875 |
Less: Comprehensive income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,500 | ' | ' |
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | $10,317 | $5,369 | $43,674 | $20,875 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Equity (USD $) | Total | Predecessor | Common Stock | Additional Paid-in Capital | Additional Paid-in Capital | Treasury Stock | Treasury Stock | Retained Earnings | Retained Earnings | Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income | Noncontrolling Interests | Class A Common Stock | Class B Common Stock | Class B Special Voting Stock | LP Exchangeable Units |
In Thousands, except Share data, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | Predecessor | USD ($) | Predecessor | USD ($) | Predecessor | USD ($) | Predecessor | USD ($) | Predecessor | Predecessor | Predecessor | Predecessor |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||
LP exchangeable units, beginning balance at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $844,217 |
Balance at beginning of period at Dec. 31, 2010 | ' | 847,205 | ' | ' | -450,711 | ' | -1,684 | ' | 450,766 | ' | 1,784 | ' | 2,827 | 6 | ' | ' |
LP exchangeable units, beginning balance (in units) at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 127,639,487 |
Balances (in shares) at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | 286,235 | ' | ' | ' | ' | ' | 282,762,520 | 604,984 | 9 | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued under stock incentive plans | ' | 1 | ' | ' | -15 | ' | ' | ' | ' | ' | ' | ' | 16 | ' | ' | ' |
Shares issued under stock incentive plans (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,101,613 | ' | ' | ' |
Exchange of Class B common stock | ' | -1 | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | -6 | ' | ' |
Exchange of Class B common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 604,565 | -604,565 | ' | ' |
Shares repurchased | ' | -2,440 | ' | ' | ' | ' | -2,440 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased (in shares) | ' | ' | ' | ' | ' | ' | 355,846 | ' | ' | ' | ' | ' | -355,846 | ' | ' | ' |
Equity-based compensation | ' | 15,112 | ' | ' | 15,112 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options | ' | 559 | ' | ' | 559 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 231,375 | ' | ' | ' |
Excess tax benefits from stock-based compensation | ' | 12,427 | ' | ' | 12,427 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Holdings, Inc. | ' | 20,668 | ' | ' | ' | ' | ' | ' | 20,668 | ' | ' | ' | ' | ' | ' | ' |
Fair value of fuel hedge | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) | ' | 182 | ' | ' | ' | ' | ' | ' | ' | ' | 182 | ' | ' | ' | ' | ' |
LP exchangeable units, ending balance at May. 24, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 844,217 |
Balance at end of period at May. 24, 2011 | ' | 893,738 | ' | ' | -422,623 | ' | -4,124 | ' | 471,434 | ' | 1,991 | ' | 2,843 | ' | ' | ' |
LP exchangeable units, ending balance (in units) at May. 24, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 127,639,487 |
Balances (in shares) at May. 24, 2011 | ' | ' | ' | ' | ' | ' | 642,081 | ' | ' | ' | ' | ' | 284,344,227 | 419 | 9 | ' |
LP exchangeable units, beginning balance at May. 25, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares purchased on transaction date, net of issuance costs of $31,878 | 855,173 | ' | 1,288 | 853,885 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares purchased on transaction date, net of issuance costs of $31,878 (in shares) | ' | ' | 128,815,275 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax effect of equity issuance costs | 6,659 | ' | ' | 6,659 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment by management | 4,978 | ' | 8 | 4,970 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment by management (in shares) | ' | ' | 807,590 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Management equity rollover | 28,265 | ' | ' | 28,265 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity-based compensation | 4,098 | ' | ' | 4,098 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity issued for acquisition | 4,000 | ' | 6 | 3,994 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity issued for acquisition (in shares) | ' | ' | 581,248 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Holdings, Inc. | 13,019 | ' | ' | ' | ' | ' | ' | 13,019 | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of fuel hedge | -1,201 | ' | ' | ' | ' | ' | ' | ' | ' | -1,201 | ' | ' | ' | ' | ' | ' |
Fair value of interest rate swap agreement | -1,460 | ' | ' | ' | ' | ' | ' | ' | ' | -1,460 | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) | -41 | ' | ' | ' | ' | ' | ' | ' | ' | -41 | ' | ' | ' | ' | ' | ' |
Balance at end of period at Dec. 31, 2011 | 913,490 | ' | 1,302 | 901,871 | ' | ' | ' | 13,019 | ' | -2,702 | ' | ' | ' | ' | ' | ' |
Balances (in shares) at Dec. 31, 2011 | ' | ' | 130,204,113 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased | -521 | ' | -1 | -139 | ' | -381 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased (in shares) | ' | ' | -148,519 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity-based compensation | 4,248 | ' | ' | 4,248 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options | 334 | ' | 6 | 328 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options (in shares) | ' | ' | 606,033 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend paid | 428,782 | ' | ' | -386,924 | ' | ' | ' | -41,858 | ' | ' | ' | ' | ' | ' | ' | ' |
Excess tax benefits from stock-based compensation | 873 | ' | ' | 873 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax impact of dividend | 4,841 | ' | ' | 4,841 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Holdings, Inc. | 41,185 | ' | ' | ' | ' | ' | ' | 41,185 | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of fuel hedge | 2,258 | ' | ' | ' | ' | ' | ' | ' | ' | 2,258 | ' | ' | ' | ' | ' | ' |
Fair value of interest rate swap agreement | -1,401 | ' | ' | ' | ' | ' | ' | ' | ' | -1,401 | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) | 1,632 | ' | ' | ' | ' | ' | ' | ' | ' | 1,632 | ' | ' | ' | ' | ' | ' |
Proceeds from noncontrolling interest | 6,530 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,530 | ' | ' | ' | ' |
Balance at end of period at Dec. 31, 2012 | 544,687 | ' | 1,307 | 525,098 | ' | -381 | ' | 12,346 | ' | -213 | ' | 6,530 | ' | ' | ' | ' |
Balances (in shares) at Dec. 31, 2012 | ' | ' | 130,661,627 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity offering, net of issuance costs of $4,031 and 5.5% underwriter discount | 1,046,252 | ' | 483 | 1,045,769 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity offering, net of issuance costs of $4,031 and 5.5% underwriter discount (in shares) | ' | ' | 48,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased | -1,467 | ' | -4 | -497 | ' | -966 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased (in shares) | ' | ' | -365,227 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity-based compensation | 4,248 | ' | ' | 4,248 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options | 877 | ' | 18 | 859 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options (in shares) | ' | ' | 1,786,485 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess tax benefits from stock-based compensation | 62 | ' | ' | 62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Holdings, Inc. | 5,995 | ' | ' | ' | ' | ' | ' | 5,995 | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to noncontrolling interest | -5,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,500 | ' | ' | ' | ' |
Fair value of fuel hedge | -636 | ' | ' | ' | ' | ' | ' | ' | ' | -636 | ' | ' | ' | ' | ' | ' |
Fair value of interest rate swap agreement | 902 | ' | ' | ' | ' | ' | ' | ' | ' | 902 | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) | -892 | ' | ' | ' | ' | ' | ' | ' | ' | -892 | ' | ' | ' | ' | ' | ' |
Proceeds from noncontrolling interest | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | ' | ' | ' | ' |
Other | 1,225 | ' | ' | 1,225 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at end of period at Dec. 31, 2013 | $1,609,753 | ' | $1,804 | $1,576,764 | ' | ($1,347) | ' | $18,341 | ' | ($839) | ' | $15,030 | ' | ' | ' | ' |
Balances (in shares) at Dec. 31, 2013 | ' | ' | 180,382,885 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Equity (Parenthetical) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Consolidated Statements of Changes in Equity | ' |
Shares purchased on transaction date/Equity offering, issuance costs (in dollars) | $4,031 |
Equity offering, underwriter discount (as a percent) | 5.50% |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 5 Months Ended | 7 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash Flows from Operating Activities | ' | ' | ' | ' |
Net income | ' | $13,019 | $11,495 | $41,185 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Depreciation and amortization | ' | 81,539 | 158,588 | 141,015 |
(Gain) loss on disposal of property, plant and equipment | ' | 156 | -28 | -268 |
Equity-based compensation expense | 15,100 | 4,098 | 4,248 | 4,248 |
Excess tax benefits from stock-based compensation | ' | ' | -62 | -873 |
Loss on early debt extinguishment | ' | ' | 68,379 | 8,307 |
Equity in earnings of unconsolidated subsidiary | ' | -276 | -323 | -379 |
Dividends received | ' | ' | 556 | 611 |
Deferred income taxes | ' | -4,131 | 2,416 | 31,932 |
Payment of dissenting shareholder settlement | ' | ' | -13,717 | ' |
Changes in operating assets/liabilities, net of acquisitions: | ' | ' | ' | ' |
Trade and other accounts receivable | ' | -4,730 | -175,968 | -81,857 |
Parts and supplies inventory | ' | 884 | -1,326 | 643 |
Prepaids and other current assets | ' | 641 | 987 | 5,839 |
Accounts payable and accrued liabilities | ' | 7,019 | -11,596 | 65,777 |
Insurance accruals | ' | 16,602 | 10,466 | 255 |
Net cash provided by operating activities | ' | 114,821 | 54,115 | 216,435 |
Cash Flows from Investing Activities | ' | ' | ' | ' |
Merger, net of cash received | ' | -2,844,221 | ' | ' |
Purchases of property, plant and equipment | ' | -46,351 | -65,879 | -60,215 |
Proceeds from sale of property, plant and equipment | ' | 216 | 744 | 7,220 |
Acquisition of businesses, net of cash received | ' | -84,375 | -35,098 | -193,002 |
Net change in insurance collateral | ' | 9,927 | 3,705 | 91,940 |
Other investing activities | ' | -1,172 | -2,069 | 14 |
Net cash used in investing activities | ' | -2,965,976 | -98,597 | -154,043 |
Cash Flows from Financing Activities | ' | ' | ' | ' |
Issuance of common stock | ' | ' | 1,112,017 | 334 |
Borrowings under the Term Loan | ' | 1,440,000 | 150,000 | ' |
Borrowings under the ABL Facility | ' | ' | 345,440 | 130,000 |
Proceeds from issuance of PIK Notes and senior notes | ' | 950,000 | ' | 450,000 |
Proceeds from CD&R equity investment | ' | 887,051 | ' | ' |
Capital contributions | ' | 4,978 | ' | ' |
Repayments of the Term Loan | ' | -425,175 | -13,371 | -262,884 |
Repayments of the ABL Facility | ' | ' | -470,440 | -5,000 |
Repayments of PIK Notes and senior notes | ' | ' | -777,250 | -15,000 |
Payments for debt extinguishment premiums | ' | ' | -39,402 | ' |
Dividend paid | ' | ' | ' | -428,782 |
Equity issuance costs | ' | -31,878 | -65,131 | ' |
Debt issue costs | ' | -117,805 | -5,011 | -21,219 |
Excess tax benefits from stock-based compensation | ' | ' | 62 | 873 |
Class A common stock repurchased as treasury stock | ' | ' | ' | -511 |
Proceeds from noncontrolling interest | ' | ' | 3,000 | 6,530 |
Payment of dissenting shareholder settlement | ' | ' | -38,336 | ' |
Net change in bank overdrafts | ' | -6,944 | -10,146 | 7,808 |
Other financing activities | ' | -1,597 | -70 | -732 |
Net cash provided by (used in) financing activities | ' | 2,698,630 | 191,362 | -138,583 |
Change in cash and cash equivalents | ' | -152,525 | 146,880 | -76,191 |
Cash and cash equivalents, beginning of period | ' | ' | 57,832 | 134,023 |
Cash and cash equivalents, end of period | 286,548 | 134,023 | 204,712 | 57,832 |
Predecessor | ' | ' | ' | ' |
Cash Flows from Operating Activities | ' | ' | ' | ' |
Net income | 20,668 | ' | ' | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Depreciation and amortization | 29,800 | ' | ' | ' |
(Gain) loss on disposal of property, plant and equipment | 39 | ' | ' | ' |
Equity-based compensation expense | 15,112 | ' | ' | ' |
Excess tax benefits from stock-based compensation | -12,427 | ' | ' | ' |
Loss on early debt extinguishment | 10,069 | ' | ' | ' |
Equity in earnings of unconsolidated subsidiary | -143 | ' | ' | ' |
Dividends received | 427 | ' | ' | ' |
Deferred income taxes | 345 | ' | ' | ' |
Changes in operating assets/liabilities, net of acquisitions: | ' | ' | ' | ' |
Trade and other accounts receivable | -10,149 | ' | ' | ' |
Parts and supplies inventory | -116 | ' | ' | ' |
Prepaids and other current assets | -8,569 | ' | ' | ' |
Accounts payable and accrued liabilities | 25,337 | ' | ' | ' |
Insurance accruals | -2,418 | ' | ' | ' |
Net cash provided by operating activities | 67,975 | ' | ' | ' |
Cash Flows from Investing Activities | ' | ' | ' | ' |
Purchases of property, plant and equipment | -18,496 | ' | ' | ' |
Proceeds from sale of property, plant and equipment | 55 | ' | ' | ' |
Acquisition of businesses, net of cash received | -94,870 | ' | ' | ' |
Net change in insurance collateral | 23,036 | ' | ' | ' |
Other investing activities | 816 | ' | ' | ' |
Net cash used in investing activities | -89,459 | ' | ' | ' |
Cash Flows from Financing Activities | ' | ' | ' | ' |
Issuance of common stock | 559 | ' | ' | ' |
Repayments of the Term Loan | -5,312 | ' | ' | ' |
Excess tax benefits from stock-based compensation | 12,427 | ' | ' | ' |
Class A common stock repurchased as treasury stock | -2,440 | ' | ' | ' |
Net change in bank overdrafts | 14,241 | ' | ' | ' |
Other financing activities | 1,196 | ' | ' | ' |
Net cash provided by (used in) financing activities | 20,671 | ' | ' | ' |
Change in cash and cash equivalents | -813 | ' | ' | ' |
Cash and cash equivalents, beginning of period | 287,361 | ' | ' | ' |
Cash and cash equivalents, end of period | $286,548 | ' | ' | ' |
Consolidated_Balance_Sheets_En
Consolidated Balance Sheets (Envision Healthcare Corporation) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $204,712 | $57,832 |
Insurance collateral | 29,619 | 24,481 |
Trade and other accounts receivable, net | 801,146 | 625,144 |
Parts and supplies inventory | 23,376 | 22,050 |
Prepaids and other current assets | 23,430 | 23,752 |
Total current assets | 1,082,283 | 753,259 |
Non-current assets: | ' | ' |
Property, plant and equipment, net | 194,715 | 191,864 |
Intangible assets, net | 513,698 | 564,218 |
Insurance collateral | 12,716 | 20,760 |
Goodwill | 2,435,670 | 2,413,632 |
Other long-term assets | 60,935 | 93,100 |
Total assets | 4,300,017 | 4,036,833 |
Current liabilities: | ' | ' |
Accounts payable | 52,588 | 53,909 |
Accrued liabilities | 350,936 | 388,935 |
Current deferred tax liabilities | 35,487 | 23,568 |
Current portion of long-term debt | 12,318 | 12,282 |
Total current liabilities | 451,329 | 478,694 |
Long-term debt | 1,895,381 | 2,647,098 |
Long-term deferred tax liabilities | 151,130 | 156,761 |
Insurance reserves | 175,427 | 189,373 |
Other long-term liabilities | 16,997 | 20,220 |
Total liabilities | 2,690,264 | 3,492,146 |
Commitment and contingencies | ' | ' |
Equity: | ' | ' |
Common stock ($0.01 par value; 1,000 shares authorized, issued, and outstanding at December 31, 2013 and 2012) | 1,804 | 1,307 |
Treasury stock at cost | -1,347 | -381 |
Additional paid-in capital | 1,576,764 | 525,098 |
Retained earnings | 18,341 | 12,346 |
Accumulated other comprehensive loss | -839 | -213 |
Total stockholders' equity | 1,594,723 | 538,157 |
Noncontrolling interest | 15,030 | 6,530 |
Total equity | 1,609,753 | 544,687 |
Total liabilities and equity | 4,300,017 | 4,036,833 |
Corporation | ' | ' |
Current assets: | ' | ' |
Cash and cash equivalents | 122,990 | 57,551 |
Insurance collateral | 29,619 | 24,481 |
Trade and other accounts receivable, net | 801,146 | 625,413 |
Parts and supplies inventory | 23,376 | 22,050 |
Prepaids and other current assets | 23,925 | 23,514 |
Total current assets | 1,001,056 | 753,009 |
Non-current assets: | ' | ' |
Property, plant and equipment, net | 194,715 | 191,864 |
Intangible assets, net | 513,698 | 564,218 |
Insurance collateral | 12,716 | 20,760 |
Goodwill | 2,435,670 | 2,413,632 |
Other long-term assets | 60,935 | 85,857 |
Total assets | 4,218,790 | 4,029,340 |
Current liabilities: | ' | ' |
Accounts payable | 52,472 | 53,792 |
Accrued liabilities | 357,979 | 387,430 |
Current deferred tax liabilities | 55,799 | 23,568 |
Current portion of long-term debt | 12,318 | 12,282 |
Total current liabilities | 478,568 | 477,072 |
Long-term debt | 1,895,381 | 2,209,923 |
Long-term deferred tax liabilities | 151,258 | 156,850 |
Insurance reserves | 175,427 | 189,373 |
Other long-term liabilities | 16,997 | 20,220 |
Total liabilities | 2,717,631 | 3,053,438 |
Commitment and contingencies | ' | ' |
Equity: | ' | ' |
Common stock ($0.01 par value; 1,000 shares authorized, issued, and outstanding at December 31, 2013 and 2012) | ' | ' |
Treasury stock at cost | -1,347 | -381 |
Additional paid-in capital | 1,404,208 | 908,488 |
Retained earnings | 84,107 | 61,478 |
Accumulated other comprehensive loss | -839 | -213 |
Total stockholders' equity | 1,486,129 | 969,372 |
Noncontrolling interest | 15,030 | 6,530 |
Total equity | 1,501,159 | 975,902 |
Total liabilities and equity | $4,218,790 | $4,029,340 |
Consolidated_Balance_Sheets_Pa1
Consolidated Balance Sheets (Parenthetical) (Envision Healthcare Corporation) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued | 180,382,885 | 130,661,627 |
Common stock, shares outstanding | 180,382,885 | 130,661,627 |
Corporation | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, shares issued | 1,000 | 1,000 |
Common stock, shares outstanding | 1,000 | 1,000 |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations and Comprehensive Income (Envision Healthcare Corporation) (Corporation, USD $) | 7 Months Ended | 12 Months Ended | 5 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 |
Predecessor | ||||
Revenue, net of contractual discounts | $3,146,039 | $6,771,522 | $5,834,632 | $2,053,311 |
Provision for uncompensated care | -1,260,228 | -3,043,210 | -2,534,511 | -831,521 |
Net revenue | 1,885,811 | 3,728,312 | 3,300,121 | 1,221,790 |
Compensation and benefits | 1,311,060 | 2,667,439 | 2,307,628 | 874,633 |
Operating expenses | 259,639 | 424,795 | 421,424 | 156,740 |
Insurance expense | 65,030 | 106,293 | 97,950 | 47,229 |
Selling, general and administrative expenses | 44,355 | 106,656 | 78,341 | 29,241 |
Depreciation and amortization expense | 71,312 | 140,632 | 123,751 | 28,467 |
Restructuring charges | 6,483 | 5,669 | 14,086 | ' |
Income from operations | 127,932 | 276,828 | 256,941 | 85,480 |
Interest income from restricted assets | 1,950 | 792 | 625 | 1,124 |
Interest expense | -104,701 | -156,134 | -171,145 | -7,886 |
Realized gains (losses) on investments | 41 | 471 | 394 | -9 |
Interest and other (expense) income | -3,151 | -12,760 | 1,422 | -28,873 |
Loss on early debt extinguishment | ' | -38,860 | -8,307 | -10,069 |
Income before income taxes and equity in earnings of unconsolidated subsidiary | 22,071 | 70,337 | 79,930 | 39,767 |
Income tax expense | -9,328 | -21,718 | -31,850 | -19,242 |
Income before equity in earnings of unconsolidated subsidiary | 12,743 | 48,619 | 48,080 | 20,525 |
Equity in earnings of unconsolidated subsidiary | 276 | 323 | 379 | 143 |
Net income | 13,019 | 48,942 | 48,459 | 20,668 |
Less: Net income attributable to noncontrolling interest | ' | -5,500 | ' | ' |
Net income | 13,019 | 43,442 | 48,459 | 20,668 |
Comprehensive Income: | ' | ' | ' | ' |
Net income | 13,019 | 43,442 | 48,459 | 20,668 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Unrealized holding (losses) gains during the period | -41 | -892 | 1,632 | 182 |
Unrealized gains (losses) on derivative financial instruments | -2,661 | 266 | 857 | 25 |
Total other comprehensive income (loss), net of tax | -2,702 | -626 | 2,489 | 207 |
Comprehensive income | 10,317 | 48,316 | 50,948 | 20,875 |
Less: Comprehensive income attributable to noncontrolling interest | ' | -5,500 | ' | ' |
Comprehensive income | $10,317 | $42,816 | $50,948 | $20,875 |
Consolidated_Statements_of_Cha2
Consolidated Statements of Changes in Equity (Envision Healthcare Corporation) (USD $) | Total | Predecessor | Corporation | Corporation | Common Stock | Common Stock | Additional Paid-in Capital | Additional Paid-in Capital | Additional Paid-in Capital | Additional Paid-in Capital | Treasury Stock | Treasury Stock | Treasury Stock | Treasury Stock | Retained Earnings | Retained Earnings | Retained Earnings | Retained Earnings | Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income | Noncontrolling Interests | Noncontrolling Interests | Class A Common Stock | Class A Common Stock | Class B Common Stock | Class B Common Stock | Class B Special Voting Stock | Class B Special Voting Stock | LP Exchangeable Units | LP Exchangeable Units |
In Thousands, except Share data, unless otherwise specified | USD ($) | USD ($) | USD ($) | Predecessor | USD ($) | Corporation | USD ($) | Predecessor | Corporation | Corporation | USD ($) | Predecessor | Corporation | Corporation | USD ($) | Predecessor | Corporation | Corporation | USD ($) | Predecessor | Corporation | Corporation | USD ($) | Corporation | Predecessor | Corporation | Predecessor | Corporation | Predecessor | Corporation | Predecessor | Corporation |
USD ($) | USD ($) | USD ($) | Predecessor | USD ($) | USD ($) | Predecessor | USD ($) | USD ($) | Predecessor | USD ($) | USD ($) | Predecessor | USD ($) | USD ($) | Predecessor | USD ($) | Predecessor | Predecessor | USD ($) | Predecessor | ||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||
LP exchangeable units, beginning balance at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $844,217 | $844,217 |
Balance at beginning of period at Dec. 31, 2010 | ' | 847,205 | ' | 847,205 | ' | ' | ' | -450,711 | ' | -450,711 | ' | -1,684 | ' | -1,684 | ' | 450,766 | ' | 450,766 | ' | 1,784 | ' | 1,784 | ' | ' | 2,827 | 2,827 | 6 | 6 | ' | ' | ' | ' |
LP exchangeable units, beginning balance (in units) at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 127,639,487 | 127,639,487 |
Balances (in shares) at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 286,235 | ' | 286,235 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 282,762,520 | 282,762,520 | 604,984 | 604,984 | 9 | 9 | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued under stock incentive plans | ' | 1 | ' | 1 | ' | ' | ' | -15 | ' | -15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 16 | ' | ' | ' | ' | ' | ' |
Shares issued under stock incentive plans (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,101,613 | 1,101,613 | ' | ' | ' | ' | ' | ' |
Exchange of Class B common stock | ' | -1 | ' | -1 | ' | ' | ' | 5 | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6 | -6 | ' | ' | ' | ' |
Exchange of Class B common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 604,565 | 604,565 | -604,565 | -604,565 | ' | ' | ' | ' |
Shares repurchased | ' | -2,440 | ' | -2,440 | ' | ' | ' | ' | ' | ' | ' | -2,440 | ' | -2,440 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 355,846 | ' | 355,846 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -355,846 | -355,846 | ' | ' | ' | ' | ' | ' |
Equity-based compensation | ' | 15,112 | ' | 15,112 | ' | ' | ' | 15,112 | ' | 15,112 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options | ' | 559 | ' | 559 | ' | ' | ' | 559 | ' | 559 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 231,375 | 231,375 | ' | ' | ' | ' | ' | ' |
Excess tax benefits from stock-based compensation | ' | 12,427 | ' | 12,427 | ' | ' | ' | 12,427 | ' | 12,427 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Corporation | ' | 20,668 | ' | 20,668 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,668 | ' | 20,668 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of fuel hedge | ' | 25 | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) | ' | 182 | ' | 182 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 182 | ' | 182 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LP exchangeable units, ending balance at May. 24, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 844,217 | 844,217 |
Balance at end of period at May. 24, 2011 | ' | 893,738 | ' | 893,738 | ' | ' | ' | -422,623 | ' | -422,623 | ' | -4,124 | ' | -4,124 | ' | 471,434 | ' | 471,434 | ' | 1,991 | ' | 1,991 | ' | ' | 2,843 | 2,843 | ' | ' | ' | ' | ' | ' |
LP exchangeable units, ending balance (in units) at May. 24, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 127,639,487 | 127,639,487 |
Balances (in shares) at May. 24, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 642,081 | ' | 642,081 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 284,344,227 | 284,344,227 | 419 | 419 | 9 | 9 | ' | ' |
LP exchangeable units, beginning balance at May. 25, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment by Parent, net of issuance costs of $31,878 | 855,173 | ' | 855,173 | ' | 1,288 | ' | 853,885 | ' | 855,173 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment by Parent, net of issuance costs of $31,878 (in shares) | ' | ' | ' | ' | 128,815,275 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax effect of equity issuance costs | 6,659 | ' | 6,659 | ' | ' | ' | 6,659 | ' | 6,659 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment by management | 4,978 | ' | 4,978 | ' | 8 | ' | 4,970 | ' | 4,978 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Management equity rollover | 28,265 | ' | 28,265 | ' | ' | ' | 28,265 | ' | 28,265 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity-based compensation | 4,098 | ' | 4,098 | ' | ' | ' | 4,098 | ' | 4,098 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity issued for acquisition | 4,000 | ' | 4,000 | ' | 6 | ' | 3,994 | ' | 4,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Corporation | 13,019 | ' | 13,019 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,019 | ' | 13,019 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of fuel hedge | -1,201 | ' | -1,201 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,201 | ' | -1,201 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of interest rate swap agreement | -1,460 | ' | -1,460 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,460 | ' | -1,460 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) | -41 | ' | -41 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -41 | ' | -41 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at end of period at Dec. 31, 2011 | 913,490 | ' | 913,490 | ' | 1,302 | ' | 901,871 | ' | 903,713 | ' | ' | ' | ' | ' | 13,019 | ' | 13,019 | ' | -2,702 | ' | -2,702 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balances (in shares) at Dec. 31, 2011 | ' | ' | ' | ' | 130,204,113 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Corporation | 5,792 | ' | 5,792 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LP exchangeable units, ending balance at Mar. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at beginning of period at Dec. 31, 2011 | 913,490 | ' | 913,490 | ' | 1,302 | ' | 901,871 | ' | 903,713 | ' | ' | ' | ' | ' | 13,019 | ' | 13,019 | ' | -2,702 | ' | -2,702 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balances (in shares) at Dec. 31, 2011 | ' | ' | ' | ' | 130,204,113 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend paid to Envision Healthcare Intermediate Corporation | 428,782 | ' | ' | ' | ' | ' | -386,924 | ' | ' | ' | ' | ' | ' | ' | -41,858 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased | -521 | ' | -521 | ' | -1 | ' | -139 | ' | -140 | ' | -381 | ' | -381 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased (in shares) | ' | ' | ' | ' | -148,519 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity-based compensation | 4,248 | ' | 4,248 | ' | ' | ' | 4,248 | ' | 4,248 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options | 334 | ' | 334 | ' | 6 | ' | 328 | ' | 334 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options (in shares) | ' | ' | ' | ' | 606,033 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess tax benefits from stock-based compensation | 873 | ' | 873 | ' | ' | ' | 873 | ' | 873 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Corporation | 41,185 | ' | 48,459 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,185 | ' | 48,459 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of fuel hedge | 2,258 | ' | 2,258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,258 | ' | 2,258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of interest rate swap agreement | -1,401 | ' | -1,401 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,401 | ' | -1,401 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) | 1,632 | ' | 1,632 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,632 | ' | 1,632 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from noncontrolling interest | 6,530 | ' | 6,530 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,530 | 6,530 | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at end of period at Dec. 31, 2012 | 544,687 | ' | 975,902 | ' | 1,307 | ' | 525,098 | ' | 908,488 | ' | -381 | ' | -381 | ' | 12,346 | ' | 61,478 | ' | -213 | ' | -213 | ' | 6,530 | 6,530 | ' | ' | ' | ' | ' | ' | ' | ' |
Balances (in shares) at Dec. 31, 2012 | ' | ' | ' | ' | 130,661,627 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LP exchangeable units, beginning balance at Oct. 02, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Corporation | 12,343 | ' | 19,617 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at end of period at Dec. 31, 2012 | 544,687 | ' | 975,902 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balances (in shares) at Dec. 31, 2012 | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Corporation | -3,847 | ' | 3,116 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LP exchangeable units, ending balance at Mar. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at beginning of period at Dec. 31, 2012 | 544,687 | ' | 975,902 | ' | 1,307 | ' | 525,098 | ' | 908,488 | ' | -381 | ' | -381 | ' | 12,346 | ' | 61,478 | ' | -213 | ' | -213 | ' | 6,530 | 6,530 | ' | ' | ' | ' | ' | ' | ' | ' |
Balances (in shares) at Dec. 31, 2012 | ' | ' | ' | ' | 130,661,627 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contribution from Holding | ' | ' | 489,326 | ' | ' | ' | ' | ' | 489,326 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend paid to Envision Healthcare Intermediate Corporation | ' | ' | 20,813 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -20,813 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased | -1,467 | ' | -1,463 | ' | -4 | ' | -497 | ' | -497 | ' | -966 | ' | -966 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased (in shares) | ' | ' | ' | ' | -365,227 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity-based compensation | 4,248 | ' | 4,248 | ' | ' | ' | 4,248 | ' | 4,248 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options | 877 | ' | 859 | ' | 18 | ' | 859 | ' | 859 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options (in shares) | ' | ' | ' | ' | 1,786,485 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess tax benefits from stock-based compensation | 62 | ' | 62 | ' | ' | ' | 62 | ' | 62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Corporation | 5,995 | ' | 43,442 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,995 | ' | 43,442 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to noncontrolling interest | -5,500 | ' | -5,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,500 | 5,500 | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of fuel hedge | -636 | ' | -636 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -636 | ' | -636 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of interest rate swap agreement | 902 | ' | 902 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 902 | ' | 902 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) | -892 | ' | -892 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -892 | ' | -892 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from noncontrolling interest | 3,000 | ' | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Other | 1,225 | ' | 1,722 | ' | ' | ' | 1,225 | ' | 1,722 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at end of period at Dec. 31, 2013 | 1,609,753 | ' | 1,501,159 | ' | 1,804 | ' | 1,576,764 | ' | 1,404,208 | ' | -1,347 | ' | -1,347 | ' | 18,341 | ' | 84,107 | ' | -839 | ' | -839 | ' | 15,030 | 15,030 | ' | ' | ' | ' | ' | ' | ' | ' |
Balances (in shares) at Dec. 31, 2013 | ' | ' | ' | ' | 180,382,885 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LP exchangeable units, beginning balance at Sep. 30, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Envision Healthcare Corporation | 7,908 | ' | 9,046 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at end of period at Dec. 31, 2013 | $1,609,753 | ' | $1,501,159 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balances (in shares) at Dec. 31, 2013 | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cha3
Consolidated Statements of Changes in Equity (Parenthetical) (Envision Healthcare Corporation) (USD $) | 7 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2011 |
Shares purchased on transaction date, issuance costs | $31,878 |
Corporation | ' |
Shares purchased on transaction date, issuance costs | $31,878 |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Envision Healthcare Corporation) (USD $) | 5 Months Ended | 7 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash Flows from Operating Activities | ' | ' | ' | ' |
Net income | ' | $13,019 | $11,495 | $41,185 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Depreciation and amortization | ' | 81,539 | 158,588 | 141,015 |
(Gain) loss on disposal of property, plant and equipment | ' | 156 | -28 | -268 |
Equity-based compensation expense | 15,100 | 4,098 | 4,248 | 4,248 |
Excess tax benefits from stock-based compensation | ' | ' | -62 | -873 |
Loss on early debt extinguishment | ' | ' | 68,379 | 8,307 |
Equity in earnings of unconsolidated subsidiary | ' | -276 | -323 | -379 |
Dividends received | ' | ' | 556 | 611 |
Deferred income taxes | ' | -4,131 | 2,416 | 31,932 |
Payment of dissenting shareholder settlement | ' | ' | -13,717 | ' |
Changes in operating assets/liabilities, net of acquisitions: | ' | ' | ' | ' |
Trade and other accounts receivable | ' | -4,730 | -175,968 | -81,857 |
Parts and supplies inventory | ' | 884 | -1,326 | 643 |
Prepaids and other current assets | ' | 641 | 987 | 5,839 |
Accounts payable and accrued liabilities | ' | 7,019 | -11,596 | 65,777 |
Insurance accruals | ' | 16,602 | 10,466 | 255 |
Net cash provided by operating activities | ' | 114,821 | 54,115 | 216,435 |
Cash Flows from Investing Activities | ' | ' | ' | ' |
Merger, net of cash received | ' | -2,844,221 | ' | ' |
Purchases of property, plant and equipment | ' | -46,351 | -65,879 | -60,215 |
Proceeds from sale of property, plant and equipment | ' | 216 | 744 | 7,220 |
Acquisition of businesses, net of cash received | ' | -84,375 | -35,098 | -193,002 |
Net change in insurance collateral | ' | 9,927 | 3,705 | 91,940 |
Other investing activities | ' | -1,172 | -2,069 | 14 |
Net cash used in investing activities | ' | -2,965,976 | -98,597 | -154,043 |
Cash Flows from Financing Activities | ' | ' | ' | ' |
Issuance of common stock | ' | ' | 1,112,017 | 334 |
Borrowings under the Term Loan | ' | 1,440,000 | 150,000 | ' |
Borrowings under the ABL Facility | ' | ' | 345,440 | 130,000 |
Proceeds from issuance of senior notes | ' | 950,000 | ' | 450,000 |
Proceeds from CD&R equity investment | ' | 887,051 | ' | ' |
Capital contributions | ' | 4,978 | ' | ' |
Repayments of the Term Loan | ' | -425,175 | -13,371 | -262,884 |
Repayments of the ABL Facility | ' | ' | -470,440 | -5,000 |
Repayments of senior notes | ' | ' | -777,250 | -15,000 |
Payment for debt extinguishment premiums | ' | ' | -39,402 | ' |
Dividend paid | ' | ' | ' | -428,782 |
Equity issuance costs | ' | -31,878 | -65,131 | ' |
Debt issue costs | ' | -117,805 | -5,011 | -21,219 |
Excess tax benefits from stock-based compensation | ' | ' | 62 | 873 |
Class A common stock repurchased as treasury stock | ' | ' | ' | -511 |
Proceeds from noncontrolling interest | ' | ' | 3,000 | 6,530 |
Payment of dissenting shareholder settlement | ' | ' | -38,336 | ' |
Net change in bank overdrafts | ' | -6,944 | -10,146 | 7,808 |
Other financing activities | ' | -1,597 | -70 | -732 |
Net cash provided by (used in) financing activities | ' | 2,698,630 | 191,362 | -138,583 |
Change in cash and cash equivalents | ' | -152,525 | 146,880 | -76,191 |
Cash and cash equivalents, beginning of period | ' | ' | 57,832 | 134,023 |
Cash and cash equivalents, end of period | 286,548 | 134,023 | 204,712 | 57,832 |
Predecessor | ' | ' | ' | ' |
Cash Flows from Operating Activities | ' | ' | ' | ' |
Net income | 20,668 | ' | ' | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Depreciation and amortization | 29,800 | ' | ' | ' |
(Gain) loss on disposal of property, plant and equipment | 39 | ' | ' | ' |
Equity-based compensation expense | 15,112 | ' | ' | ' |
Excess tax benefits from stock-based compensation | -12,427 | ' | ' | ' |
Loss on early debt extinguishment | 10,069 | ' | ' | ' |
Equity in earnings of unconsolidated subsidiary | -143 | ' | ' | ' |
Dividends received | 427 | ' | ' | ' |
Deferred income taxes | 345 | ' | ' | ' |
Changes in operating assets/liabilities, net of acquisitions: | ' | ' | ' | ' |
Trade and other accounts receivable | -10,149 | ' | ' | ' |
Parts and supplies inventory | -116 | ' | ' | ' |
Prepaids and other current assets | -8,569 | ' | ' | ' |
Accounts payable and accrued liabilities | 25,337 | ' | ' | ' |
Insurance accruals | -2,418 | ' | ' | ' |
Net cash provided by operating activities | 67,975 | ' | ' | ' |
Cash Flows from Investing Activities | ' | ' | ' | ' |
Purchases of property, plant and equipment | -18,496 | ' | ' | ' |
Proceeds from sale of property, plant and equipment | 55 | ' | ' | ' |
Acquisition of businesses, net of cash received | -94,870 | ' | ' | ' |
Net change in insurance collateral | 23,036 | ' | ' | ' |
Other investing activities | 816 | ' | ' | ' |
Net cash used in investing activities | -89,459 | ' | ' | ' |
Cash Flows from Financing Activities | ' | ' | ' | ' |
Issuance of common stock | 559 | ' | ' | ' |
Repayments of the Term Loan | -5,312 | ' | ' | ' |
Excess tax benefits from stock-based compensation | 12,427 | ' | ' | ' |
Class A common stock repurchased as treasury stock | -2,440 | ' | ' | ' |
Net change in bank overdrafts | 14,241 | ' | ' | ' |
Other financing activities | 1,196 | ' | ' | ' |
Net cash provided by (used in) financing activities | 20,671 | ' | ' | ' |
Change in cash and cash equivalents | -813 | ' | ' | ' |
Cash and cash equivalents, beginning of period | 287,361 | ' | ' | ' |
Cash and cash equivalents, end of period | 286,548 | ' | ' | ' |
Corporation | ' | ' | ' | ' |
Cash Flows from Operating Activities | ' | ' | ' | ' |
Net income | ' | 13,019 | 48,942 | 48,459 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Depreciation and amortization | ' | 81,539 | 155,771 | 139,960 |
(Gain) loss on disposal of property, plant and equipment | ' | 156 | -28 | -268 |
Equity-based compensation expense | ' | 4,098 | 4,248 | 4,248 |
Excess tax benefits from stock-based compensation | ' | ' | -62 | -873 |
Loss on early debt extinguishment | ' | ' | 38,860 | 8,307 |
Equity in earnings of unconsolidated subsidiary | ' | -276 | -323 | -379 |
Dividends received | ' | ' | 556 | 611 |
Deferred income taxes | ' | -4,131 | 22,768 | 31,932 |
Payment of dissenting shareholder settlement | ' | ' | -13,717 | ' |
Changes in operating assets/liabilities, net of acquisitions: | ' | ' | ' | ' |
Trade and other accounts receivable | ' | -4,730 | -175,699 | -82,126 |
Parts and supplies inventory | ' | 884 | -1,326 | 643 |
Prepaids and other current assets | ' | 641 | 210 | 5,839 |
Accounts payable and accrued liabilities | ' | 7,019 | -3,126 | 59,640 |
Insurance accruals | ' | 16,602 | 10,466 | 255 |
Net cash provided by operating activities | ' | 114,821 | 87,540 | 216,248 |
Cash Flows from Investing Activities | ' | ' | ' | ' |
Merger, net of cash received | ' | -2,844,221 | ' | ' |
Purchases of property, plant and equipment | ' | -46,351 | -65,879 | -60,215 |
Proceeds from sale of property, plant and equipment | ' | 216 | 744 | 7,220 |
Acquisition of businesses, net of cash received | ' | -84,375 | -35,098 | -193,002 |
Net change in insurance collateral | ' | 9,927 | 3,705 | 91,940 |
Other investing activities | ' | -1,172 | -2,069 | 14 |
Net cash used in investing activities | ' | -2,965,976 | -98,597 | -154,043 |
Cash Flows from Financing Activities | ' | ' | ' | ' |
Issuance of common stock | ' | ' | 1,117 | 334 |
Borrowings under the Term Loan | ' | 1,440,000 | 150,000 | ' |
Borrowings under the ABL Facility | ' | ' | 345,440 | 130,000 |
Proceeds from issuance of senior notes | ' | 950,000 | ' | ' |
Proceeds from CD&R equity investment | ' | 887,051 | ' | ' |
Capital contributions | ' | 4,978 | 489,326 | ' |
Repayments of the Term Loan | ' | -425,175 | -13,371 | -262,884 |
Repayments of the ABL Facility | ' | ' | -470,440 | -5,000 |
Repayments of senior notes | ' | ' | -327,250 | -15,000 |
Payment for debt extinguishment premiums | ' | ' | -27,016 | ' |
Dividend paid | ' | ' | -20,813 | ' |
Equity issuance costs | ' | -31,878 | ' | ' |
Debt issue costs | ' | -117,805 | -5,007 | -95 |
Excess tax benefits from stock-based compensation | ' | ' | 62 | 873 |
Class A common stock repurchased as treasury stock | ' | ' | ' | -511 |
Proceeds from noncontrolling interest | ' | ' | 3,000 | 6,530 |
Payment of dissenting shareholder settlement | ' | ' | -38,336 | ' |
Net change in bank overdrafts | ' | -6,944 | -10,146 | 7,808 |
Other financing activities | ' | -1,597 | -70 | -732 |
Net cash provided by (used in) financing activities | ' | 2,698,630 | 76,496 | -138,677 |
Change in cash and cash equivalents | ' | -152,525 | 65,439 | -76,472 |
Cash and cash equivalents, beginning of period | ' | ' | 57,551 | 134,023 |
Cash and cash equivalents, end of period | 286,548 | 134,023 | 122,990 | 57,551 |
Corporation | Predecessor | ' | ' | ' | ' |
Cash Flows from Operating Activities | ' | ' | ' | ' |
Net income | 20,668 | ' | ' | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Depreciation and amortization | 29,800 | ' | ' | ' |
(Gain) loss on disposal of property, plant and equipment | 39 | ' | ' | ' |
Equity-based compensation expense | 15,112 | ' | ' | ' |
Excess tax benefits from stock-based compensation | -12,427 | ' | ' | ' |
Loss on early debt extinguishment | 10,069 | ' | ' | ' |
Equity in earnings of unconsolidated subsidiary | -143 | ' | ' | ' |
Dividends received | 427 | ' | ' | ' |
Deferred income taxes | 345 | ' | ' | ' |
Changes in operating assets/liabilities, net of acquisitions: | ' | ' | ' | ' |
Trade and other accounts receivable | -10,149 | ' | ' | ' |
Parts and supplies inventory | -116 | ' | ' | ' |
Prepaids and other current assets | -8,569 | ' | ' | ' |
Accounts payable and accrued liabilities | 25,337 | ' | ' | ' |
Insurance accruals | -2,418 | ' | ' | ' |
Net cash provided by operating activities | 67,975 | ' | ' | ' |
Cash Flows from Investing Activities | ' | ' | ' | ' |
Purchases of property, plant and equipment | -18,496 | ' | ' | ' |
Proceeds from sale of property, plant and equipment | 55 | ' | ' | ' |
Acquisition of businesses, net of cash received | -94,870 | ' | ' | ' |
Net change in insurance collateral | 23,036 | ' | ' | ' |
Other investing activities | 816 | ' | ' | ' |
Net cash used in investing activities | -89,459 | ' | ' | ' |
Cash Flows from Financing Activities | ' | ' | ' | ' |
Issuance of common stock | 559 | ' | ' | ' |
Repayments of the Term Loan | -5,312 | ' | ' | ' |
Excess tax benefits from stock-based compensation | 12,427 | ' | ' | ' |
Class A common stock repurchased as treasury stock | -2,440 | ' | ' | ' |
Net change in bank overdrafts | 14,241 | ' | ' | ' |
Other financing activities | 1,196 | ' | ' | ' |
Net cash provided by (used in) financing activities | 20,671 | ' | ' | ' |
Change in cash and cash equivalents | -813 | ' | ' | ' |
Cash and cash equivalents, beginning of period | 287,361 | ' | ' | ' |
Cash and cash equivalents, end of period | $286,548 | ' | ' | ' |
General
General | 12 Months Ended |
Dec. 31, 2013 | |
General | ' |
General | ' |
1. General | |
Basis of Presentation of Financial Statements | |
Envision Healthcare Holdings, Inc. ("Holding") indirectly owns all of the outstanding common stock of Envision Healthcare Corporation ("Corporation"), together "the Company" or "EVHC". In June 2013, CDRT Holding Corporation's name was changed to Envision Healthcare Holdings, Inc. and Emergency Medical Services Corporation's name was changed to Envision Healthcare Corporation. | |
The consolidated financial statements for Holding and Corporation have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") to reflect the consolidated financial position, results of operations and cash flows of Holding and Corporation. | |
On August 13, 2013, Holding's registration statement for an initial public offering of its common stock, par value $0.01 per share was declared effective. See Note 13 for further information on Holding's initial public offering and its equity. | |
On July 29, 2013, Holding affected a 9.3 for 1.0 stock split of Holding's common stock, resulting in 132,082,885 shares of common stock issued, not including 504,197 treasury shares. The accompanying consolidated financial statements give retroactive effect to the stock split for all periods presented. | |
On May 25, 2011, Corporation was acquired through a merger transaction ("Merger") by investment funds (the "CD&R Affiliates") sponsored by, or affiliated with, Clayton, Dubilier & Rice LLC ("CD&R"). As a result of the Merger, Corporation became a wholly-owned subsidiary of Envision Healthcare Intermediate Corporation ("Parent"), formerly known as CDRT Acquisition Corporation, which is a wholly-owned subsidiary of Holding, and Corporation's stock ceased to be traded on the New York Stock Exchange. In addition, Emergency Medical Services LP ("EMS LP"), a wholly-owned subsidiary of Corporation, ceased to be a reporting entity with the Securities and Exchange Commission. Details of the Merger are more fully discussed in Note 13. The transaction was accounted for as a reverse acquisition with Parent. Although Corporation continued as the surviving corporation and same legal entity after the Merger, the accompanying consolidated results of operations and cash flows are presented for two periods: the period prior to the Merger ("Predecessor") and succeeding the Merger ("Successor"). Corporation applied business combination accounting to the opening balance sheet and results of operations on May 25, 2011. The Merger resulted in a new basis of accounting beginning on May 25, 2011 and the financial reporting periods are presented as follows: | |
• | |
The years ended December 31, 2013 and 2012 are presented on a Successor basis, reflecting the Merger of Corporation and the affiliate of CD&R. | |
• | |
The year ended December 31, 2011 includes the Predecessor period of Corporation from January 1, 2011 through May 24, 2011 and the Successor period, reflecting the Merger of Corporation and the affiliate of CD&R, from May 25, 2011 through December, 2011. | |
The Company operates in two segments, EmCare Holdings, Inc. ("EmCare") in the facility-based physician service business and American Medical Response, Inc. ("AMR") in the healthcare transportation service business. EmCare provides integrated facility-based physician services for emergency departments, anesthesiology, hospitalist/inpatient, radiology, teleradiology and surgery programs with 706 contracts in 45 states and the District of Columbia. EmCare recruits physicians, gathers their credentials, arranges contracts for their services, assists in monitoring their performance and arranges their scheduling. In addition, EmCare assists clients in such operational areas as staff coordination, quality assurance, departmental accreditation, billing, record-keeping, third-party payment programs, and other administrative services. EmCare also offers physician-led care management solutions outside the hospital. AMR operates in 40 states and the District of Columbia, providing a full range of medical transportation services from basic patient transit to the most advanced emergency care and pre-hospital assistance. In addition, AMR operates emergency ("911") call and response services for large and small communities all across the United States, offers contracted medical staffing, and provides telephone triage, transportation dispatch and demand management services. | |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||||||||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||||||||||||||||
2. Summary of Significant Accounting Policies | ||||||||||||||||||||||||||
Consolidation | ||||||||||||||||||||||||||
The consolidated financial statements of Holding include all of its wholly-owned subsidiaries, including Corporation and its respective subsidiaries and affiliated physician groups. The consolidated financial statements of Corporation, include all of its wholly-owned subsidiaries, including EmCare and AMR and their respective subsidiaries, and affiliated physician groups. All significant intercompany transactions and balances have been eliminated in consolidation. | ||||||||||||||||||||||||||
Use of Estimates | ||||||||||||||||||||||||||
The preparation of financial statements requires management to make estimates and assumptions relating to the reporting of results of operations, financial condition and related disclosure of contingent assets and liabilities at the date of the financial statements including, but not limited to, estimates and assumptions for accounts receivable and insurance related reserves. Actual results may differ from those estimates under different assumptions or conditions. | ||||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||||
Cash and cash equivalents are comprised of highly liquid investments with a maturity of three months or less at acquisition, and are recorded at market value. | ||||||||||||||||||||||||||
At December 31, 2013 and 2012, bank overdrafts of $5.0 million and $15.1 million, respectively, were included in accounts payable in the accompanying balance sheets. | ||||||||||||||||||||||||||
Insurance Collateral | ||||||||||||||||||||||||||
Insurance collateral is principally comprised of government and investment grade securities and cash deposits with third parties and supports the Company's insurance program and reserves. Certain of these investments, if sold or otherwise liquidated, would have to be replaced by other suitable financial assurances and are, therefore, considered restricted. | ||||||||||||||||||||||||||
Trade and Other Accounts Receivable, net | ||||||||||||||||||||||||||
The Company estimates its allowances based on payor reimbursement schedules, historical collections and write-off experience and other economic data. Patient-related accounts receivable are recorded net of estimated allowances for contractual discounts and uncompensated care in the period in which services are performed. Account balances are charged off against the uncompensated care allowance, which relates principally to receivables recorded for self-pay patients, when it is probable the receivable will not be recovered. Write-offs to the contractual allowance occur when payment is received. As a result of the estimates used in recording the allowances, the nature of healthcare collections, which may involve lengthy delays, and the current uncertainty in the economy, there is a reasonable possibility that recorded estimates will change materially in the short-term. | ||||||||||||||||||||||||||
The following table presents accounts receivable, net and accounts receivable allowances by segment (in thousands): | ||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Accounts receivable, net | ||||||||||||||||||||||||||
Corporation | $ | 1,011 | $ | 897 | ||||||||||||||||||||||
EmCare | 558,195 | 375,572 | ||||||||||||||||||||||||
AMR | 241,940 | 248,944 | ||||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total—Corporation | $ | 801,146 | $ | 625,413 | ||||||||||||||||||||||
Holding—adjustment for Holding | — | (269 | ) | |||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total—Holding | $ | 801,146 | $ | 625,144 | ||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Accounts receivable allowances | ||||||||||||||||||||||||||
EmCare | ||||||||||||||||||||||||||
Allowance for contractual discounts | $ | 1,807,090 | $ | 1,406,574 | ||||||||||||||||||||||
Allowance for uncompensated care | 868,590 | 657,297 | ||||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total | $ | 2,675,680 | $ | 2,063,871 | ||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
| | | | | | | | |||||||||||||||||||
AMR | ||||||||||||||||||||||||||
Allowance for contractual discounts | $ | 195,614 | $ | 212,914 | ||||||||||||||||||||||
Allowance for uncompensated care | 170,243 | 184,457 | ||||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total | $ | 365,857 | $ | 397,371 | ||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
| | | | | | | | |||||||||||||||||||
The changes in the allowances for contractual discounts and uncompensated care are primarily a result of changes in the Company's gross fee-for-service rate schedules and gross accounts receivable balances. These gross fee schedules, including any changes to existing fee schedules, generally are negotiated with various contracting entities, including municipalities and facilities. Fee schedule increases are billed for all revenue sources and to all payors under that specific contract; however, reimbursement in the case of certain state, federal, and commercial payors, including Medicare and Medicaid, will not change as a result of the change in gross fee schedules. In certain cases, this results in a higher level of contractual and uncompensated care provisions and allowances, requiring a higher percentage of contractual discount and uncompensated care provisions compared to gross charges. | ||||||||||||||||||||||||||
Parts and Supplies Inventory | ||||||||||||||||||||||||||
Parts and supplies inventory is valued at cost, determined on a first-in, first-out basis. Durable medical supplies, including oximeters and other miscellaneous items, are capitalized as inventory and expensed as used. | ||||||||||||||||||||||||||
Property, Plant and Equipment, net | ||||||||||||||||||||||||||
Property, plant and equipment are reflected at their estimated fair value as of May 25, 2011 in connection with the acquisition of Corporation led by CD&R. Additions to property, plant and equipment subsequent to this date are recorded at cost. Maintenance and repairs that do not extend the useful life of the property are charged to expense as incurred. Gains and losses from dispositions of property, plant and equipment are recorded in the period incurred. Depreciation of property, plant and equipment is provided substantially on a straight-line basis over their estimated useful lives, which are as follows: | ||||||||||||||||||||||||||
Buildings | 35 to 40 years | |||||||||||||||||||||||||
Leasehold improvements | Shorter of expected life or life of lease | |||||||||||||||||||||||||
Vehicles | 5 to 7 years | |||||||||||||||||||||||||
Computer hardware and software | 3 to 5 years | |||||||||||||||||||||||||
Other | 3 to 10 years | |||||||||||||||||||||||||
Goodwill and Other Indefinite Lived Intangibles | ||||||||||||||||||||||||||
Goodwill and other indefinite lived intangibles, including radio frequency licenses and trade names, are not amortized, but instead tested for impairment at least annually. The Company performs its annual impairment test in the third quarter for goodwill and other indefinite lived intangibles or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Such indicators include a sustained significant decline in the Company's market capitalization or a significant decline in its expected future cash flows due to changes in company-specific factors or the broader business climate. The evaluation of such factors requires considerable judgment. Any adverse change in these factors could have a significant impact on the recoverability of goodwill and have a material impact on the Company's consolidated financial statements. | ||||||||||||||||||||||||||
Goodwill and other indefinite lived intangible assets have been allocated to three reporting units. Two of the reporting units are aggregated into the EmCare operating segment and the other reporting unit is the AMR operating segment which the Company determined met the criteria to be classified as a reporting unit. At December 31, 2013, $1,574.9 million and $860.8 million of goodwill had been allocated to EmCare and AMR, respectively. | ||||||||||||||||||||||||||
The Company compares the fair value of its reporting units to the carrying amounts on an annual basis to determine if there is potential goodwill impairment. If the fair value of the reporting units is less than the carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than its carrying value. | ||||||||||||||||||||||||||
Fair value for each of the reporting units is determined using the estimated future cash flows, discounted at a rate commensurate with the risk involved or the market approach. No impairment indicators were noted in completing the Company's annual impairment assessments in 2013 and no indicators were noted which would indicate that subsequent interim impairment tests were necessary. No impairment charges were recorded as of December 31, 2013, 2012, or 2011. | ||||||||||||||||||||||||||
Impairment of Long-lived Assets and Other Definite Lived Intangibles | ||||||||||||||||||||||||||
Long-lived assets and other definite lived intangibles are assessed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Important factors that could trigger impairment review include significant underperformance relative to historical or projected future operating results, significant changes in the use of the acquired assets or the strategy for the overall business, and significant negative industry or economic trends. If indicators of impairment are present, management evaluates the carrying value of long-lived assets and other definite lived intangibles in relation to the projection of future undiscounted cash flows of the underlying business. Projected cash flows are based on historical results adjusted to reflect management's best estimate of future market and operating conditions, which may differ from actual cash flows. There were no indicators of impairment in 2013, 2012, or 2011. | ||||||||||||||||||||||||||
Contract Value | ||||||||||||||||||||||||||
The Company's contracts and customer relationships, recorded initially at their estimated fair value, represent the amortized value of such assets held by the Company. Consistent with management's expectation of estimated future cash flow, these assets are amortized on a straight-line basis over the average length of the contracts and expected contract renewal period, and range from 5 to 10 years depending on the type of contract and customer relationship. | ||||||||||||||||||||||||||
Claims Liability and Professional Liability Reserves | ||||||||||||||||||||||||||
The Company is self-insured up to certain limits for costs associated with workers compensation claims, automobile claims, professional liability claims and general business liabilities. Reserves are established for estimates of the loss that will ultimately be incurred on claims that have been reported but not paid and claims that have been incurred but not reported. These reserves are established based on consultation with independent actuaries. The actuarial valuations consider a number of factors, including historical claim payment patterns and changes in case reserves, the assumed rate of increase in healthcare costs and property damage repairs. Historical experience and recent stable trends in the historical experience are the most significant factors in the determination of these reserves. Management believes the use of actuarial methods to account for these reserves provides a consistent and effective way to measure these subjective accruals. However, given the magnitude of the claims involved and the length of time until the ultimate cost is known, the use of any estimation technique in this area is inherently sensitive. Accordingly, recorded reserves could differ from ultimate costs related to these claims due to changes in accident reporting, claims payment and settlement practices or claims reserve practices, as well as differences between assumed and future cost increases. Accrued unpaid claims and expenses that are expected to be paid within the next twelve months are classified as current liabilities. All other accrued unpaid claims and expenses are classified as non-current liabilities. | ||||||||||||||||||||||||||
Derivatives and Hedging Activities | ||||||||||||||||||||||||||
All derivative instruments are recorded on the balance sheet at fair value. The Company uses derivative instruments to manage risks associated with interest rate and fuel price volatility. All hedging instruments that qualify for hedge accounting are designated and effective as hedges, in accordance with GAAP. If the underlying hedged transaction ceases to exist, all changes in fair value of the related derivatives that have not been settled are recognized in current earnings. Instruments that do not qualify for hedge accounting and the ineffective portion of hedges are marked to market with changes recognized in current earnings. The Company does not hold or issue derivative financial instruments for trading purposes and is not a party to leveraged derivatives (see Note 11). | ||||||||||||||||||||||||||
EmCare Contractual Arrangements | ||||||||||||||||||||||||||
EmCare structures its contractual arrangements for emergency department management services in various ways. In most states, a wholly-owned subsidiary of EmCare ("EmCare Subsidiary") contracts with hospitals to provide emergency department management services. The EmCare Subsidiary enters into an agreement with a professional association or professional corporation ("PA"), whereby the EmCare Subsidiary provides the PA with management services and the PA agrees to provide physician services for the hospital contract. The PA employs physicians directly or subcontracts with another entity for the physician services. In certain states, the PA contracts directly with the hospital, but provides physician services and obtains management services in the same manner as described above. In all arrangements, decisions regarding patient care are made exclusively by the physicians. In consideration for these services, the EmCare Subsidiary receives a monthly fee that may be adjusted from time to time to reflect industry practice, business conditions, and actual expenses for administrative costs and uncollectible accounts. In most states, these fees approximate the excess of the PA's revenues over its expenses. | ||||||||||||||||||||||||||
Each PA is wholly-owned by a physician who enters into a Stock Transfer and Option Agreement with EmCare. This agreement gives EmCare the right to replace the physician owner with another physician in accordance with the terms of the agreement. | ||||||||||||||||||||||||||
EmCare has determined that these management contracts meet the requirements for consolidation in accordance with GAAP. Accordingly, these financial statements include the accounts of EmCare and its subsidiaries and the PAs. The financial statements of the PAs are consolidated with EmCare and its subsidiaries because EmCare has ultimate control over the assets and business operations of the PAs as described above. Notwithstanding the lack of technical majority ownership, consolidation of the PAs is necessary to present fairly the financial position and results of operations of EmCare because of the existence of a control relationship by means other than record ownership of the PAs' voting stock. Control of a PA by EmCare is perpetual and other than temporary because EmCare may replace the physician owner of the PA at any time and thereby continue EmCare's relationship with the PA. | ||||||||||||||||||||||||||
Financial Instruments and Concentration of Credit Risk | ||||||||||||||||||||||||||
The Company's cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, insurance collateral, long-term debt and long-term liabilities, other than self-insurance estimates, constitute financial instruments. Based on management's estimates, the carrying value of cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximates fair value as of December 31, 2013 and 2012. Concentration of credit risks in accounts receivable is limited, due to the large number of customers comprising the Company's customer base throughout the United States. A significant component of the Company's revenue is derived from Medicare and Medicaid. Given that these are government programs, the credit risk for these customers is considered low. The Company performs ongoing credit evaluations of its other customers, but does not require collateral to support customer accounts receivable. The Company establishes an allowance for uncompensated care based on the credit risk applicable to particular customers, historical trends and other relevant information. For the year ended December 31, 2013, the Company derived approximately 27% of its net revenue from Medicare and Medicaid, 69% from insurance providers and contracted payors, and 4% directly from patients. | ||||||||||||||||||||||||||
The Company estimates the fair value of its fixed rate, senior notes based on quoted market prices (Level 1). The estimated fair value of the senior notes at December 31, 2013 was approximately $657.1 million with a carrying value of $607.8 million. The Company's captive insurance subsidiary holds $9.8 million of the senior notes at December 31, 2013 which has been excluded from the carrying value state above. | ||||||||||||||||||||||||||
Revenue Recognition | ||||||||||||||||||||||||||
Fee-for-service revenue is recognized at the time of service and is recorded net of provisions for contractual discounts and estimated uncompensated care. Fee-for-service revenue represents billings for services provided to patients, for which the Company receives payment from the patient or their third-party payor. Provisions for contractual discounts are related to differences between gross charges and specific payor, including governmental, reimbursement schedules. Subsidy and fee revenue primarily represent hospital subsidies and fees at EmCare and fees for stand-by, special event and community subsidies at AMR. Provisions for estimated uncompensated care, or bad debts, are related principally to the number of self-pay patients treated in the period. Provisions for contractual discounts and estimated uncompensated care by segment, as a percentage of gross revenue and as a percentage of gross revenue less provision for contractual discounts are shown below. Predecessor and Successor periods are not disclosed because they are not materially different from the combined 2011 period presented. | ||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||
EmCare | ||||||||||||||||||||||||||
Gross revenue | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||
Provision for contractual discounts | 57.8 | % | 57.7 | % | 57.4 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Revenue net of contractual discounts | 42.2 | % | 42.3 | % | 42.6 | % | ||||||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue | 21.6 | % | 21.2 | % | 20 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 51.1 | % | 50.1 | % | 46.9 | % | ||||||||||||||||||||
AMR | ||||||||||||||||||||||||||
Gross revenue | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||
Provision for contractual discounts | 50.7 | % | 49.2 | % | 47.9 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Revenue net of contractual discounts | 49.3 | % | 50.8 | % | 52.1 | % | ||||||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue | 14.7 | % | 15.6 | % | 15.6 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 29.7 | % | 30.7 | % | 30 | % | ||||||||||||||||||||
Total | ||||||||||||||||||||||||||
Gross revenue | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||
Provision for contractual discounts | 56 | % | 55.1 | % | 54.1 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Revenue net of contractual discounts | 44 | % | 44.9 | % | 45.9 | % | ||||||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue | 19.8 | % | 19.5 | % | 18.5 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 44.9 | % | 43.4 | % | 40.2 | % | ||||||||||||||||||||
Net revenue for the years ended December 31, 2013 and 2012, the Successor period from May 25, 2011 through December 31, 2011, and the Predecessor period from January 1, 2011 through May 24, 2011 consisted of the following (in thousands): | ||||||||||||||||||||||||||
Successor | Predecessor | |||||||||||||||||||||||||
Period from | Period from | |||||||||||||||||||||||||
May 25 | January 1 | |||||||||||||||||||||||||
Year ended | Year ended | through | through | |||||||||||||||||||||||
December 31, | December 31, | December 31, | May 24, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||||||||||||
Fee-for-service revenue, net of contractuals: | ||||||||||||||||||||||||||
Medicare | $ | 942,068 | $ | 767,012 | $ | 427,627 | $ | 310,314 | ||||||||||||||||||
Medicaid | 206,223 | 186,568 | 113,345 | 88,220 | ||||||||||||||||||||||
Commercial insurance and managed care | 2,332,871 | 2,092,062 | 1,148,608 | 717,857 | ||||||||||||||||||||||
Self-pay | 2,660,924 | 2,221,356 | 1,093,723 | 721,099 | ||||||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Sub-total | 6,142,086 | 5,266,998 | 2,783,303 | 1,837,490 | ||||||||||||||||||||||
Subsidies and fees | 629,436 | 567,634 | 362,736 | 215,821 | ||||||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Revenue, net of contractuals | 6,771,522 | 5,834,632 | 3,146,039 | 2,053,311 | ||||||||||||||||||||||
Provision for uncompensated care | (3,043,210 | ) | (2,534,511 | ) | (1,260,228 | ) | (831,521 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Net revenue | $ | 3,728,312 | $ | 3,300,121 | $ | 1,885,811 | $ | 1,221,790 | ||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Healthcare reimbursement is complex and may involve lengthy delays. Third-party payors are continuing their efforts to control expenditures for healthcare, including proposals to revise reimbursement policies. The Company has from time to time experienced delays in reimbursement from third-party payors. In addition, third-party payors may disallow, in whole or in part, claims for payment based on determinations that certain amounts are not reimbursable under plan coverage, determinations of medical necessity, or the need for additional information. Laws and regulations governing the Medicare and Medicaid programs are very complex and subject to interpretation. Revenue is recognized on an estimated basis in the period which related services are rendered. As a result, there is a reasonable possibility that recorded estimates will change materially in the short-term. Such amounts, including adjustments between provisions for contractual discounts and uncompensated care, are adjusted in future periods as adjustments become known. These adjustments in the aggregate increased the contractual discount and uncompensated care provisions (decreased net revenue) by approximately $1 million for the year ended December 31, 2013 and decreased the contractual discount and uncompensated care provisions (increased net revenue) by approximately $10 million for the year ended December 31, 2012 and $15 million for the Predecessor and Successor periods ended December 31, 2011. | ||||||||||||||||||||||||||
Subsidies and fees in connection with community contracts at AMR are recognized ratably over the service period the payment covers. | ||||||||||||||||||||||||||
The Company also provides services to patients who have no insurance or other third-party payor coverage. In certain circumstances, federal law requires providers to render services to any patient who requires care regardless of their ability to pay. | ||||||||||||||||||||||||||
Income Taxes | ||||||||||||||||||||||||||
Deferred income taxes reflect the impact of temporary differences between the reported amounts of assets and liabilities for financial reporting purposes and such amounts as measured by tax laws and regulations. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. A valuation allowance is provided for deferred tax assets when management concludes it is more likely than not that some portion of the deferred tax assets will not be recognized. The respective tax authorities, in the normal course, audit previous tax filings. It is not possible at this time to predict the final outcome of these audits or establish a reasonable estimate of possible additional taxes owing, if any. | ||||||||||||||||||||||||||
Equity Based Compensation | ||||||||||||||||||||||||||
The Company recognizes all share-based payments to employees based on its grant-date fair values and its estimates of forfeitures. The Company recognizes the fair value of outstanding options as a charge to operations over the vesting period. The cash benefits of tax deductions in excess of deferred taxes on recognized compensation expense are reported as a financing cash flow. The Company uses the straight-line method to recognize equity based compensation expense for its outstanding stock awards. Equity based compensation has been issued under the plans described in Note 16. | ||||||||||||||||||||||||||
Fair Value Measurement | ||||||||||||||||||||||||||
The Company classifies its financial instruments that are reported at fair value based on a hierarchal framework which ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is impacted by a number of factors, including the type of instrument and the characteristics specific to the instrument. Instruments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. | ||||||||||||||||||||||||||
Financial instruments measured and reported at fair value are classified and disclosed in one of the following categories: | ||||||||||||||||||||||||||
Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. The Company does not adjust the quoted price for these assets or liabilities, which include investments held in connection with the Company's captive insurance program. | ||||||||||||||||||||||||||
Level 2—Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Balances in this category include fixed income mortgage backed securities, corporate bonds, and derivatives. | ||||||||||||||||||||||||||
Level 3—Pricing inputs are unobservable as of the reporting date and reflect the Company's own assumptions about the fair value of the asset or liability. Balances in this category include the Company's estimate, using a combination of internal and external fair value analyses, of contingent consideration for acquisitions described in Note 5. | ||||||||||||||||||||||||||
The following table summarizes the valuation of the Company's financial instruments by the above fair value hierarchy levels as of December 31 (in thousands): | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||||
Securities (insurance collateral) | $ | 12,710 | $ | 517 | — | $ | 13,227 | $ | 22,870 | $ | 788 | — | $ | 23,658 | ||||||||||||
Fuel hedge | — | $ | 672 | — | $ | 672 | — | $ | 631 | — | $ | 631 | ||||||||||||||
Liabilities: | ||||||||||||||||||||||||||
Contingent consideration | — | — | $ | 7,734 | $ | 7,734 | — | — | $ | 4,401 | $ | 4,401 | ||||||||||||||
Interest rate swap | — | $ | 3,135 | — | $ | 3,135 | — | $ | 4,586 | — | $ | 4,586 | ||||||||||||||
The contingent consideration balance classified as a level 3 liability has increased by $3.3 million since December 31, 2012 due to new acquisitions. | ||||||||||||||||||||||||||
During the year ended December 31, 2013, the Company had no transfers in and out of Level 1 and Level 2 fair value measurements. | ||||||||||||||||||||||||||
Recent Accounting Pronouncements | ||||||||||||||||||||||||||
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("ASU 2013-11") to provide explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 requires an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except if such a deferred tax asset is unavailable at the reporting date. If a deferred tax asset is unavailable at the reporting date, then the unrecognized tax benefit should be presented in the financial statements as a liability and not combined with deferred tax assets. ASU 2013-11 is effective for fiscal years, and interim periods within those years, beginning after December 31, 2013. The Company does not expect the adoption of ASU 2013-11 to have a material impact on its financial position or results of operations. | ||||||||||||||||||||||||||
In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income ("ASU 2013-02") to improve the reporting of reclassifications out of accumulated other comprehensive income ("AOCI"). | ||||||||||||||||||||||||||
ASU 2013-02 requires the following: | ||||||||||||||||||||||||||
• | ||||||||||||||||||||||||||
present separately for each component of other comprehensive income, current period reclassifications out of AOCI and other amounts of current-period other comprehensive income; and | ||||||||||||||||||||||||||
• | ||||||||||||||||||||||||||
separately provide information about the effects on net income of significant amounts reclassified out of each component of AOCI if those amounts all are required to be reclassified to net income in their entirety in the same reporting period. | ||||||||||||||||||||||||||
The Company adopted this new guidance effective January 1, 2013 by adding disclosure in Note 12. | ||||||||||||||||||||||||||
Basic_and_Diluted_Net_Income_P
Basic and Diluted Net Income Per Share | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Basic and Diluted Net Income Per Share | ' | |||||||||||||||
Basic and Diluted Net Income Per Share | ' | |||||||||||||||
3. Basic and Diluted Net Income Per Share | ||||||||||||||||
Holding presents both basic earnings per share ("EPS") and diluted EPS. Basic EPS excludes potential dilution and is computed by dividing "Net income attributable to Envision Healthcare Holdings, Inc." by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock awards were exercised. The potential dilution from stock awards was computed using the treasury stock method based on the average market value of Holding's common stock. The following table presents EPS amounts for all periods and the basic and diluted weighted-average shares outstanding used in the calculation (in thousands, except per share amounts). | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
May 25 | January 1 | |||||||||||||||
Year ended | Year ended | through | through | |||||||||||||
December 31, | December 31, | December 31, | May 24, | |||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Net income attributable to Envision Healthcare Holdings, Inc. | $ | 5,995 | $ | 41,185 | $ | 13,019 | $ | 20,668 | ||||||||
Weighted-average common shares outstanding—common stock: | ||||||||||||||||
Basic | 150,156 | 130,229 | 129,469 | 411,757 | ||||||||||||
Dilutive impact of stock awards outstanding | 6,806 | 2,717 | 1,364 | 5,328 | ||||||||||||
| | | | | | | | | | | | | | | | |
Diluted | 156,962 | 132,946 | 130,833 | 417,085 | ||||||||||||
Earnings per share—common stock: | ||||||||||||||||
Basic net income per share attributable to Envision Healthcare Holdings, Inc. | $ | 0.04 | $ | 0.32 | $ | 0.1 | $ | 0.05 | ||||||||
Diluted net income per share attributable to Envision Healthcare Holdings, Inc. | $ | 0.04 | $ | 0.31 | $ | 0.1 | $ | 0.05 | ||||||||
As of December 31, 2013 there was no stock awards of common stock outstanding excluded from the weighted-average common shares outstanding above. | ||||||||||||||||
Statements_of_Cash_Flows_Data
Statements of Cash Flows Data | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Statements of Cash Flows Data | ' | |||||||||||||||
Statements of Cash Flows Data | ' | |||||||||||||||
4. Statements of Cash Flows Data | ||||||||||||||||
Certain prior year amounts within financing activities on the statements of cash flows have been reclassified to conform to the current year presentation. The following presents supplemental cash flow statement disclosure (in thousands). | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Supplemental cash flow data—Holding | ||||||||||||||||
Cash paid for interest | $ | 198,098 | $ | 154,984 | $ | 83,922 | $ | 7,533 | ||||||||
Net cash paid (refunds received) for taxes | 13,351 | (20,463 | ) | 9,537 | 5,366 | |||||||||||
Supplemental cash flow data—Corporation | ||||||||||||||||
Cash paid for interest | $ | 157,125 | $ | 154,984 | $ | 83,922 | $ | 7,533 | ||||||||
Net cash paid (refunds received) for taxes | 13,351 | (20,463 | ) | 9,537 | 5,366 |
Acquisitions
Acquisitions | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Acquisitions | ' | ||||
Acquisitions | ' | ||||
5. Acquisitions | |||||
2013 Acquisitions | |||||
During the year ended December 31, 2013, indirect, wholly-owned subsidiaries of the Company completed the acquisitions of CMORx, LLC and Loya Medical Services, PLLC, which provide clinical management software, each of T.M.S. Management Group, Inc. and Transportation Management Services of Brevard, Inc., two related corporations that leverage the provision of non-emergency medical transportation services by third-party transportation service providers, Jackson Emergency Consultants, which provides facility based physician staffing in northern Florida, and other smaller acquisitions for a combined purchase price of $34.2 million paid in cash. | |||||
The Company has accounted for these acquisitions using the acquisition method of accounting, whereby the total purchase price was allocated to the acquired identifiable net assets based on assessments of their respective fair values, and the excess of the purchase price over the fair values of these identifiable net assets was allocated to goodwill. The total purchase price for these acquisitions was allocated to goodwill of $26.2 million, all of which is tax deductive goodwill, other acquired intangible assets of $9.5 million, and net current liabilities of $1.5 million, which are subject to adjustment based upon the completion of purchase price allocations. | |||||
Contingent Consideration | |||||
As of December 31, 2013, the Company has accrued $7.7 million as its estimate of the additional payments to be made in future periods as contingent consideration for acquisitions made prior to December 31, 2013. This balance is included in accrued liabilities in the accompanying balance sheets. These payments will be made should the acquired operations achieve the terms as agreed to in the respective acquisition agreements. | |||||
2012 Acquisitions | |||||
Guardian Healthcare Group, Inc. ("Guardian"). On December 21, 2012, the Company acquired the stock of Guardian for a total purchase price of $159.0 million paid in cash. Guardian, through its subsidiaries, provides healthcare services to patients at their place of residence. The Company has accounted for the acquisition of Guardian using the acquisition method of accounting, whereby the total purchase price was allocated to the acquired identifiable net assets based on assessments of their respective fair values, and the excess of the purchase price over the fair values of these identifiable net assets was allocated to goodwill. During 2013, the Company made purchase price allocation adjustments including a reclassification from goodwill to intangible assets of $8.7 million, an increase in the federal tax liability of $2.9 million and other adjustments to opening balances for assets and liabilities. Of the goodwill recorded, $78.5 million is tax deductible. The final allocation of the purchase price is in the table below (in thousands): | |||||
Cash | $ | 428 | |||
Accounts receivable | 11,542 | ||||
Prepaid and other current assets | 379 | ||||
Property, plant and equipment | 1,792 | ||||
Acquired intangible assets | 59,810 | ||||
Goodwill | 111,256 | ||||
Other long-term assets | 50 | ||||
Accounts payable | (729 | ) | |||
Accrued liabilities | (5,204 | ) | |||
Current deferred tax liabilities | (15,108 | ) | |||
Federal tax liability | (5,216 | ) | |||
| | | | | |
Total purchase price | $ | 159,000 | |||
| | | | | |
| | | | | |
The Company began consolidating the results of operations effective December 21, 2012. The acquisition added $3.0 million of operating revenue and $0.3 million of net income for the year ended December 31, 2012. On an unaudited Pro Forma basis, had the Company owned Guardian at the beginning of each fiscal year ended December 31, 2012 and 2011, $100.1 million and $95.4 million of operating revenues and $5.9 million and $5.8 million of net income would have been reported for the years ended December 31, 2012 and 2011, respectively. This unaudited Pro Forma information should not be relied upon as necessarily being indicative of the historical results that would have been obtained if the acquisition had actually occurred on those dates, nor of the results that may be obtained in the future. | |||||
Other Acquisitions. On August 31, 2012, the Company acquired the assets of Sage Physician Partners, Inc. d/b/a American Physician Housecalls ("APH"). APH provides primary physician healthcare services to patients at their place of residence. On September 28, 2012 and December 31, 2012, the Company acquired the management services companies of NightRays, P.A. ("Night Rays") and Saint Vincent Anesthesia Medical Group, Inc. / Golden State Anesthesia Consultants, Inc. ("St. Vincent / Golden State"), respectively, both of which provide teleradiology and radiology services to hospitals, healthcare facilities and physician practices. The Company acquired these other acquisitions for a total purchase price of $33.8 million paid in cash. | |||||
The Company has accounted for these other acquisitions using the acquisition method of accounting, whereby the total purchase price was allocated to the acquired identifiable net assets based on assessments of their respective fair values, and the excess of the purchase price over the fair values of these identifiable net assets was allocated to goodwill. During 2013, the Company made purchase price allocation adjustments including a reclassification from goodwill to intangible assets of $4.3 million for Night Rays, a reclassification from net current liabilities to goodwill of $3.7 million for St. Vincent / Golden State and other adjustments to opening balances for assets and liabilities. The total purchase price for these other acquisitions was allocated to goodwill of $31.8 million, of which $22.2 million is tax deductible goodwill, other acquired intangible assets of $12.3 million, and net current liabilities of $10.3 million. | |||||
2011 Acquisitions | |||||
On January 11, 2011, the Company completed the acquisition of Northwood Anesthesia Associates, and an affiliate of the Company completed the acquisition of the related professional entity, North Pinellas Anesthesia Associates (collectively referred to as "North Pinellas"), an anesthesia provider based in Tampa, Florida. On February 17, 2011, the Company completed the acquisition of Doctor's Ambulance Service, which provides emergency and non-emergency ambulance services in Orange County, California. On April 1, 2011, the Company acquired all the capital stock of BestPractices, Inc., an emergency department staffing and management company based in Virginia. On August 1, 2011, the Company acquired all the capital stock of Medics Ambulance Service and substantially all of its subsidiaries and corporate affiliates (collectively, "Medics Ambulance") through its indirect, wholly-owned subsidiaries. Medics Ambulance provides ground medical transportation services in south Florida. On September 8, 2011, the Company acquired Acute Management, LLC ("Acute") which provides medical practice support for certain surgery programs and staffing to contracted hospitals in Texas. The Company acquired these acquisitions and other smaller acquisitions during 2011 and consideration paid for acquisitions from prior years for $183.2 million, consisting of $179.2 million paid in cash and the remaining consideration paid in equity. | |||||
The Company has accounted for these other acquisitions using the acquisition method of accounting, whereby the total purchase price was allocated to the acquired identifiable net assets based on assessments of their respective fair values, and the excess of the purchase price over the fair values of these identifiable net assets was allocated to goodwill. During 2012, the Company made purchase price allocation adjustments related to the Medics Ambulance and Acute acquisitions. Based on independent valuations performed, $5.2 million and $2.7 million were reclassified from goodwill to other intangible assets for Medics Ambulance and Acute, respectively. The total purchase price for these other acquisitions was allocated to goodwill of $128.8 million and other acquired intangible assets of $28.1 million. | |||||
Property_Plant_and_Equipment_n
Property, Plant and Equipment, net | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment, net. | ' | |||||||
Property, Plant and Equipment, net | ' | |||||||
6. Property, Plant and Equipment, net | ||||||||
Property, plant and equipment, net consisted of the following at December 31 (in thousands): | ||||||||
2013 | 2012 | |||||||
Land | $ | 5,013 | $ | 5,013 | ||||
Building and leasehold improvements | 22,526 | 20,529 | ||||||
Vehicles | 146,700 | 117,376 | ||||||
Computer hardware and software | 67,754 | 57,920 | ||||||
Communication and medical equipment and other | 99,923 | 77,154 | ||||||
| | | | | | | | |
341,916 | 277,992 | |||||||
Less: accumulated depreciation and amortization | (147,201 | ) | (86,128 | ) | ||||
| | | | | | | | |
Property, plant and equipment, net | $ | 194,715 | $ | 191,864 | ||||
| | | | | | | | |
| | | | | | | | |
Depreciation expense was $63.9 million and $56.5 million for the years ended December 31, 2013 and 2012, respectively, $30.9 million for the Successor period from May 25, 2011 through December 31, 2011, and $17.1 million for the Predecessor period from January 1, 2011 through May 24, 2011. | ||||||||
Intangible_Assets_net
Intangible Assets, net | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Intangible Assets, net | ' | |||||||||||||
Intangible Assets, net | ' | |||||||||||||
7. Intangible Assets, net | ||||||||||||||
Intangible Assets, excluding Goodwill | ||||||||||||||
Intangible assets, net consisted of the following at December 31 (in thousands): | ||||||||||||||
2013 | 2012 | |||||||||||||
Gross | Accumulated | Gross | Accumulated | |||||||||||
Carrying | Amortization | Carrying | Amortization | |||||||||||
Amount | Amount | |||||||||||||
Amortized intangible assets | ||||||||||||||
Contract value | $ | 590,880 | $ | (173,975 | ) | $ | 575,700 | $ | (105,672 | ) | ||||
Physician referral network | 58,650 | (7,515 | ) | 51,070 | (196 | ) | ||||||||
Covenant not to compete | 5,101 | (2,324 | ) | 3,419 | (1,244 | ) | ||||||||
| | | | | | | | | | | | | | |
654,631 | (183,814 | ) | 630,189 | (107,112 | ) | |||||||||
Unamortized intangible assets | ||||||||||||||
Trade names | 33,740 | — | 32,000 | — | ||||||||||
Radio frequencies | 901 | — | 901 | — | ||||||||||
License | 8,240 | — | 8,240 | — | ||||||||||
| | | | | | | | | | | | | | |
Total | $ | 697,512 | $ | (183,814 | ) | $ | 671,330 | $ | (107,112 | ) | ||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Amortization expense was $76.7 million and $67.2 million for the years ended December 31, 2013 and 2012, respectively, $39.9 million for the Successor period from May 25, 2011 through December 31, 2011, and $11.9 million for the Predecessor period from January 1, 2011 through May 24, 2011. Estimated annual amortization over each of the next five years is expected to be: | ||||||||||||||
2014 | $ | 77,251 | ||||||||||||
2015 | 77,027 | |||||||||||||
2016 | 70,119 | |||||||||||||
2017 | 65,317 | |||||||||||||
2018 | 58,514 | |||||||||||||
Goodwill | ||||||||||||||
Changes in the carrying amount of goodwill during 2013 are set forth as below (in thousands): | ||||||||||||||
December 31, | 2013 | Adjustments | December 31, | |||||||||||
2012 | Acquisitions | 2013 | ||||||||||||
EmCare | $ | 1,555,924 | $ | 9,018 | $ | 9,940 | $ | 1,574,882 | ||||||
AMR | 857,708 | 17,157 | (14,077 | ) | 860,788 | |||||||||
| | | | | | | | | | | | | | |
Total | $ | 2,413,632 | $ | 26,175 | $ | (4,137 | ) | $ | 2,435,670 | |||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Adjustments in the carrying amount of goodwill during 2013 relate to purchase price allocation adjustments and reclassifications. | ||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Income Taxes | ' | |||||||||||||||
Income Taxes | ' | |||||||||||||||
8. Income Taxes | ||||||||||||||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred taxes were as follows at December 31 (in thousands): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Current deferred tax assets (liabilities)—Holding: | ||||||||||||||||
Accounts receivable | $ | 1,611 | $ | 43 | ||||||||||||
Accrual to cash | (89,609 | ) | (48,850 | ) | ||||||||||||
Accrued liabilities | 13,586 | 17,407 | ||||||||||||||
Credit carryforwards | 693 | 381 | ||||||||||||||
Net operating loss carryforwards | 38,232 | 7,451 | ||||||||||||||
| | | | | | | | |||||||||
Net current deferred tax liabilities | (35,487 | ) | (23,568 | ) | ||||||||||||
| | | | | | | | |||||||||
Long-term deferred tax (liabilities) assets—Holding: | ||||||||||||||||
Intangible assets | (171,315 | ) | (186,685 | ) | ||||||||||||
Insurance and other long-term liabilities | 37,692 | 50,560 | ||||||||||||||
Excess of tax over book depreciation | (40,729 | ) | (43,975 | ) | ||||||||||||
Net operating loss carryforwards | 27,895 | 31,653 | ||||||||||||||
Credit carryforwards | 2,555 | 2,048 | ||||||||||||||
Valuation allowance | (7,228 | ) | (10,362 | ) | ||||||||||||
| | | | | | | | |||||||||
Net long-term deferred tax liabilities | (151,130 | ) | (156,761 | ) | ||||||||||||
| | | | | | | | |||||||||
Net deferred tax liabilities—Holding | $ | (186,617 | ) | $ | (180,329 | ) | ||||||||||
| | | | | | | | |||||||||
| | | | | | | | |||||||||
2013 | 2012 | |||||||||||||||
Current deferred tax assets (liabilities)—Corporation: | ||||||||||||||||
Accounts receivable | $ | 1,611 | $ | 43 | ||||||||||||
Accrual to cash | (89,609 | ) | (48,850 | ) | ||||||||||||
Accrued liabilities | 13,586 | 17,407 | ||||||||||||||
Credit carryforwards | 693 | 381 | ||||||||||||||
Net operating loss carryforwards | 17,920 | 7,451 | ||||||||||||||
| | | | | | | | |||||||||
Net current deferred tax liabilities | (55,799 | ) | (23,568 | ) | ||||||||||||
| | | | | | | | |||||||||
Long-term deferred tax (liabilities) assets—Corporation: | ||||||||||||||||
Intangible assets | (171,315 | ) | (186,685 | ) | ||||||||||||
Insurance and other long-term liabilities | 37,692 | 50,471 | ||||||||||||||
Excess of tax over book depreciation | (40,729 | ) | (43,975 | ) | ||||||||||||
Net operating loss carryforwards | 27,767 | 31,653 | ||||||||||||||
Credit carryforwards | 2,555 | 2,048 | ||||||||||||||
Valuation allowance | (7,228 | ) | (10,362 | ) | ||||||||||||
| | | | | | | | |||||||||
Net long-term deferred tax liabilities | (151,258 | ) | (156,850 | ) | ||||||||||||
| | | | | | | | |||||||||
Net deferred tax liabilities—Corporation | $ | (207,057 | ) | $ | (180,418 | ) | ||||||||||
| | | | | | | | |||||||||
| | | | | | | | |||||||||
At December 31, 2013, Holding and Corporation have net deferred tax liabilities that will increase taxable income in future periods. Net deferred tax liabilities increased by $6.3 million and $26.6 million for Holding and Corporation, respectively, from December 31, 2012. A valuation allowance is established when it is "more likely than not" that all, or a portion, of net deferred tax assets will not be realized. A review of all available positive and negative evidence needs to be considered, including expected reversals of significant deductible temporary differences, a company's recent financial performance, the market environment in which a company operates, tax planning strategies and the length of net operating loss carryforward periods. Furthermore, the weight given to the potential effect of negative and positive evidence should be commensurate with the extent to which it can be objectively verified. Based on the evaluation of such evidence, the Company established a $7.2 million valuation allowance as of December 31, 2013 related to some of its state deferred tax assets, a decrease of $3.2 million from December 31, 2012. | ||||||||||||||||
Holding and Corporation have federal net operating loss carryforwards of $133.5 million and $75.5 million, respectively, which expire in the years 2017 to 2033. The increase to the net operating loss carryforwards is primarily due to tax losses generated in the tax year ended December 31, 2013. AMR's net operating loss carryforwards generated prior to the Merger are subject to AMR's $1.3 million annual limitation under Section 382 of the Internal Revenue Code of 1986, as amended ("IRC"), increased by its recognized built-in gains. Due to the May 25, 2011 tax year end that was created by the Merger, $2.2 million of AMR's net operating loss carryforwards expired and were written off. In connection with the 2010 acquisitions, net operating loss carryforwards totaling $31.2 million are subject to an annual IRC Section 382 limitation of $2.7 million. The Company's 2010 net unrealized built-in gain and future recognition of some of these built-in gains has and will continue to accelerate the usage of these net operating loss carryforwards. | ||||||||||||||||
The Company generated excess tax deductions of $8.4 million as of December 31, 2013 from stock awards exercised. However, the tax benefit and related deferred tax asset for these excess tax deductions have not been recognized as of December 31, 2013 and will not be recognized until such tax benefit is realized. | ||||||||||||||||
The Company operates in multiple taxing jurisdictions and in the normal course of business is examined by federal and state tax authorities. In preparation for such examinations, the Company establishes reserves for uncertain tax positions, periodically assesses the amount of such reserves and adjusts the reserve balances as necessary. The Company does not expect the final resolution of tax examinations to have a material impact on the Company's financial results. In nearly all jurisdictions, the tax years prior to 2009 are no longer subject to examination. | ||||||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
May 24 | January 1 | |||||||||||||||
Year ended | Year ended | through | through | |||||||||||||
December 31, | December 31, | December 31, | May 24, | |||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Balance as of beginning of period | $ | 3,467 | $ | 963 | $ | 5,479 | $ | 3,301 | ||||||||
Additions for tax positions of prior years | 216 | 5,397 | 1,552 | 2,178 | ||||||||||||
Reductions for tax positions of prior years | — | (1,896 | ) | (6,068 | ) | — | ||||||||||
Reductions for tax positions due to lapse of statute of limitations | (3,069 | ) | (997 | ) | — | — | ||||||||||
| | | | | | | | | | | | | | | | |
Balance as of end of period | $ | 614 | $ | 3,467 | $ | 963 | $ | 5,479 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
The Company does not expect a reduction of unrecognized tax benefits within the next twelve months. | ||||||||||||||||
Accrued interest and penalties on unrecognized tax benefits are recorded as a component of income tax expense. The Company recognized $0.2 million and $0.7 million for the payments of interest and penalties for the years ended December 31, 2013 and 2012, respectively, and less than $0.1 million for the payments of interest and penalties for both the Successor period from May 25, 2011 through December 31, 2011 and Predecessor period from January 1, 2011 through May 24, 2011. The Company reversed $0.5 million and $0.2 million of the interest previously recognized for the years ended December 31, 2013 and 2012, respectively, and $0.3 million of the interest previously recognized for the Successor period from May 25, 2011 through December 31, 2011. | ||||||||||||||||
The unrecognized tax benefits recorded by the Company included approximately $0.2 million and $0.5 million of penalties and interest that may reduce future tax expense for the years ended December 31, 2013 and 2012, respectively, and $0.1 million and $0.3 million of penalties and interest that may reduce future tax expense for the Successor period from May 25, 2011 through December 31, 2011 and Predecessor period from January 1, 2011 through May 24, 2011, respectively. | ||||||||||||||||
The components of income tax expense for Holding and Corporation were as follows (in thousands): | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Current tax (benefit) expense—Holding | ||||||||||||||||
State | $ | 3,937 | $ | 5,131 | $ | 2,212 | $ | 4,835 | ||||||||
Federal | (7,347 | ) | 34,965 | (220 | ) | 22,285 | ||||||||||
| | | | | | | | | | | | | | | | |
Total | (3,410 | ) | 40,096 | 1,992 | 27,120 | |||||||||||
| | | | | | | | | | | | | | | | |
Deferred tax (benefit) expense—Holding | ||||||||||||||||
State | (5,586 | ) | 1,004 | (266 | ) | (1,596 | ) | |||||||||
Federal | 8,002 | (13,637 | ) | 7,602 | (6,282 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Total | 2,416 | (12,633 | ) | 7,336 | (7,878 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Total tax (benefit) expense—Holding | ||||||||||||||||
State | (1,649 | ) | 6,135 | 1,946 | 3,239 | |||||||||||
Federal | 655 | 21,328 | 7,382 | 16,003 | ||||||||||||
| | | | | | | | | | | | | | | | |
Total | $ | (994 | ) | $ | 27,463 | $ | 9,328 | $ | 19,242 | |||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Current tax (benefit) expense—Corporation | ||||||||||||||||
State | $ | 6,297 | $ | 5,773 | $ | 2,212 | $ | 4,835 | ||||||||
Federal | (7,347 | ) | 38,621 | (220 | ) | 22,285 | ||||||||||
| | | | | | | | | | | | | | | | |
Total | (1,050 | ) | 44,394 | 1,992 | 27,120 | |||||||||||
| | | | | | | | | | | | | | | | |
Deferred tax (benefit) expense—Corporation | ||||||||||||||||
State | (5,464 | ) | 1,011 | (266 | ) | (1,596 | ) | |||||||||
Federal | 28,232 | (13,555 | ) | 7,602 | (6,282 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Total | 22,768 | (12,544 | ) | 7,336 | (7,878 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Total tax expense—Corporation | ||||||||||||||||
State | 833 | 6,784 | 1,946 | 3,239 | ||||||||||||
Federal | 20,885 | 25,066 | 7,382 | 16,003 | ||||||||||||
| | | | | | | | | | | | | | | | |
Total | $ | 21,718 | $ | 31,850 | $ | 9,328 | $ | 19,242 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
A reconciliation of the provision for income taxes at the federal statutory rate compared to the effective tax rate for Holding and Corporation is as follows (in thousands): | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Income tax expense at the statutory rate—Holding | $ | 3,562 | $ | 23,895 | $ | 7,725 | $ | 13,969 | ||||||||
Increase in income taxes resulting from: | ||||||||||||||||
State taxes, net of federal | 1,834 | 4,218 | 1,450 | 2,730 | ||||||||||||
Tax settlements and filings | (2,853 | ) | (638 | ) | (331 | ) | 40 | |||||||||
Buyout transaction costs | — | — | — | 4,606 | ||||||||||||
Tax credits | (779 | ) | — | — | (806 | ) | ||||||||||
Dissenting shareholder settlement | 3,203 | — | — | — | ||||||||||||
Change in valuation allowance | (3,126 | ) | — | — | — | |||||||||||
State deferred rate change | (1,161 | ) | — | — | — | |||||||||||
Income attributable to noncontrolling interest | (2,093 | ) | — | — | — | |||||||||||
Other | 419 | (12 | ) | 484 | (1,297 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Income tax (benefit) expense—Holding | $ | (994 | ) | $ | 27,463 | $ | 9,328 | $ | 19,242 | |||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Income tax expense at the statutory rate—Corporation | $ | 24,618 | $ | 27,976 | $ | 7,725 | $ | 13,969 | ||||||||
Increase in income taxes resulting from: | ||||||||||||||||
State taxes, net of federal | 3,489 | 4,524 | 1,450 | 2,730 | ||||||||||||
Tax settlements and filings | (2,853 | ) | (638 | ) | (331 | ) | 40 | |||||||||
Buyout transaction costs | — | — | — | 4,606 | ||||||||||||
Tax credits | (779 | ) | — | — | (806 | ) | ||||||||||
Dissenting shareholder settlement | 3,203 | — | — | — | ||||||||||||
Change in valuation allowance | (3,126 | ) | — | — | — | |||||||||||
State deferred rate change | (1,161 | ) | — | — | — | |||||||||||
Income attributable to noncontrolling interest | (2,093 | ) | — | — | — | |||||||||||
Other | 420 | (12 | ) | 484 | (1,297 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Income tax expense—Corporation | $ | 21,718 | $ | 31,850 | $ | 9,328 | $ | 19,242 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
The effective rates for the years ended December 31, 2013 and 2012, the Successor period from May 25 through December 31, 2011, and the Predecessor period from January 1 through May 24, 2011 were impacted by nonrecurring items. | ||||||||||||||||
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities | ' | |||||||
Accrued Liabilities | ' | |||||||
9. Accrued Liabilities | ||||||||
Accrued liabilities were as follows at December 31 (in thousands): | ||||||||
2013 | 2012 | |||||||
Accrued wages and benefits | $ | 161,398 | $ | 136,334 | ||||
Accrued paid time-off | 25,713 | 25,626 | ||||||
Current portion of self-insurance reserve | 73,738 | 49,224 | ||||||
Accrued restructuring | 5,682 | 12,318 | ||||||
Current portion of compliance and legal | 2,000 | 3,711 | ||||||
Accrued billing and collection fees | 2,954 | 4,945 | ||||||
Accrued incentive compensation | 19,570 | 22,274 | ||||||
Accrued interest | 6,898 | 7,889 | ||||||
Accrued income taxes payable | 7,043 | 19,487 | ||||||
Accrued dissenting shareholder settlement | — | 41,826 | ||||||
Other | 52,983 | 63,796 | ||||||
| | | | | | | | |
Total accrued liabilities—Corporation | $ | 357,979 | $ | 387,430 | ||||
Adjustment for Holding: | ||||||||
Accrued interest | — | 10,406 | ||||||
Accrued income taxes payable | (7,043 | ) | (8,901 | ) | ||||
| | | | | | | | |
Total accrued liabilities—Holding | $ | 350,936 | $ | 388,935 | ||||
| | | | | | | | |
| | | | | | | | |
Debt
Debt | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt | ' | |||||||
Debt | ' | |||||||
10. Debt | ||||||||
Senior Unsecured Notes due 2019 | ||||||||
On May 25, 2011, Corporation issued $950 million of senior unsecured notes due 2019 ("2019 Notes"). During the second quarter of 2012, Corporation's captive insurance subsidiary purchased $15.0 million of the 2019 Notes through an open market transaction and currently holds $9.8 million of the 2019 Notes subsequent to the partial redemption of the 2019 Notes on December 30, 2013. | ||||||||
On December 30, 2013, Corporation redeemed $332.5 million in aggregate principal amount of the 2019 Notes of which $5.2 million was held by the Company's captive insurance subsidiary at a redemption price of 108.125%, plus accrued and unpaid interest of $2.2 million. During the year ended December 31, 2013, Corporation recorded a loss on early debt extinguishment of $38.7 million related to premiums and unamortized debt issuance costs from the redemption of the 2019 Notes. | ||||||||
The 2019 Notes have a fixed interest rate of 8.125%, payable semi-annually with the principal due at maturity in 2019. The 2019 Notes are general unsecured obligations of Corporation and are guaranteed by each of Corporation's domestic subsidiaries, except for any of Corporation's subsidiaries subject to regulation as an insurance company, including Corporation's captive insurance subsidiary. | ||||||||
The Company may redeem the 2019 Notes, in whole or in part, at any time prior to June 1, 2014, at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date, plus the applicable make-whole premium. The Company may redeem the 2019 Notes, in whole or in part, at any time (i) on and after June 1, 2014 and prior to June 1, 2015, at a price equal to 106.094% of the principal amount of the 2019 Notes, (ii) on or after June 1, 2015 and prior to June 1, 2016, at a price equal to 104.063% of the principal amount of the 2019 Notes, (iii) on or after June 1, 2016 and prior to June 1, 2017, at a price equal to 102.031% of the principal amount of the 2019 Notes, and (iv) on or after June 1, 2017, at a price equal to 100.000% of the principal amount of the 2019 Notes, in each case, plus accrued and unpaid interest, if any, to the redemption date. In addition, at any time prior to June 1, 2014, the Company may redeem up to 35% of the aggregate principal amount of the 2019 Notes with the proceeds of certain equity offerings at a redemption price of 108.125%, plus accrued and unpaid interest, which it exercised on December 30, 2013 by redeeming $332.5 million in principal amount. | ||||||||
The indenture governing the 2019 Notes contains covenants that, among other things, limit Corporation's ability and the ability of its restricted subsidiaries to: incur more indebtedness or issue certain preferred shares; pay dividends, redeem stock or make other distributions; make investments; create restrictions on the ability of its restricted subsidiaries to pay dividends to Corporation or make other intercompany transfers; create liens; transfer or sell assets; merge or consolidate; enter into certain transactions with affiliates; and designate subsidiaries as unrestricted subsidiaries. Upon the occurrence of certain events constituting a change of control, Corporation is required to make an offer to repurchase all of the 2019 Notes (unless otherwise redeemed) at a purchase price equal to 101% of their principal amount, plus accrued and unpaid interest, if any to the repurchase date. If Corporation sells assets under certain circumstances, it must use the proceeds to make an offer to purchase the 2019 Notes at a price equal to 100% of their principal amount, plus accrued and unpaid interest, if any, to the date of purchase. | ||||||||
Senior Secured Credit Facilities | ||||||||
On May 25, 2011, Corporation entered into $1.8 billion of senior secured credit facilities ("Senior Secured Credit Facilities") that consisted of a $1.44 billion senior secured term loan facility due 2018 (the "Term Loan Facility") and a $350 million asset-backed revolving credit facility due 2016 (the "ABL Facility"). | ||||||||
In conjunction with completing the financing under the Senior Secured Credit Facilities, Corporation repaid the balance outstanding on the previous senior secured term loan. During the Predecessor period ended May 24, 2011, the Company recorded a loss on early debt extinguishment of $10.1 million related to unamortized debt issuance costs. | ||||||||
During the year ended December 31, 2012 the Company made unscheduled payments totaling $250 million on the senior secured term loan and recorded a loss on early debt extinguishment of $8.3 million related to unamortized debt issuance costs. | ||||||||
Term Loan Facility | ||||||||
Prior to February 7, 2013, loans under the Term Loan Facility bore interest at Corporation's election at a rate equal to (i) the highest of (x) the rate for deposits in U.S. dollars in the London interbank market (adjusted for maximum reserves) for the applicable interest period ("Term Loan LIBOR rate") and (y) 1.50%, plus, in each case, 3.75%, or (ii) the base rate, which will be the highest of (w) the corporate base rate established by the administrative agent from time to time, (x) 0.50% in excess of the overnight federal funds rate, (y) the one-month Term Loan LIBOR rate (adjusted for maximum reserves) plus 1.00% per annum and (x) 2.50%, plus, in each case, 2.75%. | ||||||||
On February 7, 2013, Corporation, the borrower under the Term Loan Facility, entered into a First Amendment (the "Term Loan Amendment") to the credit agreement governing the Term Loan Facility (as amended, the "Term Loan Credit Agreement"). Under the Term Loan Amendment, Corporation incurred an additional $150 million in incremental borrowings under the Term Loan Facility, the proceeds of which were used to pay down the ABL Facility. In addition, the rate at which the loans under the Term Loan Credit Agreement bear interest was amended to equal (i) the higher of (x) LIBOR and (y) 1.00%, plus, in each case, 3.00% (with a step-down to 2.75% in the event that Corporation meets a consolidated first lien net leverage ratio of 2.50:1.00), or (ii) the alternate base rate, which will be the highest of (w) the corporate base rate established by the administrative agent from time to time, (x) 0.50% in excess of the overnight federal funds rate, (y) the one-month LIBOR (adjusted for maximum reserves) plus 1.00% and (z) 2.00%, plus, in each case, 2.00% (with a step-down to 1.75% in the event that Corporation meets a consolidated first lien net leverage ratio of 2.50:1.00). Corporation recorded a loss on early debt extinguishment of $0.1 million related to unamortized debt issuance costs as a result of this modification. | ||||||||
The credit agreement governing the Term Loan Facility contains customary representations and warranties and customary affirmative and negative covenants. The negative covenants are limited to the following: limitations on the incurrence of debt, liens, fundamental changes, restrictions on subsidiary distributions, transactions with affiliates, further negative pledge, asset sales, restricted payments, investments and acquisitions, repayment of certain junior debt (including the senior notes) or amendments of junior debt documents related thereto and line of business. The negative covenants are subject to the customary exceptions. | ||||||||
ABL Facility | ||||||||
Prior to February 27, 2013, loans under the ABL Facility bore interest at Corporation's election at a rate equal to (i) the rate for deposits in U.S. dollars in the London interbank market (adjusted for maximum reserves) for the applicable interest period ("ABL LIBOR rate"), plus an applicable margin that ranges from 2.25% to 2.75% based on the average available loan commitments, or (ii) the base rate, which is the highest of (x) the corporate base rate established by the administrative agent from time to time, (y) the overnight federal funds rate plus 0.5% and (z) the one-month ABL LIBOR rate plus 1.0% per annum, plus, in each case, an applicable margin that ranges from 1.25% to 1.75% based on the average available loan commitments. | ||||||||
On February 27, 2013, Corporation entered into a First Amendment to the credit agreement governing the ABL Facility (as amended, the "ABL Credit Agreement"), under which Corporation increased its commitments under the ABL Facility to $450 million and extended the term to 2018. In addition, the rate at which the loans under the ABL Credit Agreement bear interest was amended to equal (i) LIBOR plus, (x) 2.00% in the event that average daily excess availability is less than or equal to 33% of availability, (y) 1.75% in the event that average daily excess availability is greater than 33% but less than or equal to 66% of availability and (z) 1.50% in the event that average daily excess availability is greater than 66% of availability, or (ii) the alternate base rate, which will be the highest of (x) the corporate base rate established by the administrative agent from time to time, (y) 0.50% in excess of the overnight federal funds rate and (z) the one-month LIBOR (adjusted for maximum reserves) plus 1.00% plus, in each case, (A) 1.00% in the event that average daily excess availability is less than or equal to 33% of availability, (B) 0.75% in the event that average daily excess availability is greater than 33% but less than or equal to 66% of availability and (C) 0.50% in the event that average daily excess availability is greater than 66% of availability. | ||||||||
The ABL Facility bears a commitment fee that ranges from 0.500% to 0.375%, payable quarterly in arrears, based on the utilization of the ABL Facility. The ABL Facility also bears customary letter of credit fees. | ||||||||
As of December 31, 2013, letters of credit outstanding which impact the available credit under the ABL Facility were $132.5 million and the maximum available under the ABL Facility was $279.9 million. | ||||||||
The credit agreement governing the ABL Facility contains customary representations and warranties and customary affirmative and negative covenants. The negative covenants are limited to the following: limitations on indebtedness, dividends and distributions, investments, acquisitions, prepayments or redemptions of junior indebtedness, amendments of junior indebtedness, transactions with affiliates, asset sales, mergers, consolidations and sales of all or substantially all assets, liens, negative pledge clauses, changes in fiscal periods, changes in line of business and hedging transactions. The negative covenants are subject to the customary exceptions and also permit the payment of dividends and distributions, investments, permitted acquisitions and payments or redemptions of junior indebtedness upon satisfaction of a "payment condition." The payment condition is deemed satisfied upon 30-day average excess availability exceeding agreed upon thresholds and, in certain cases, the absence of specified events of default and compliance with a fixed charge coverage ratio of 1.0 to 1.0. | ||||||||
In 2013, Corporation recorded $5.0 million of debt issuance expense related to the Term Loan Amendment and ABL Amendment. | ||||||||
Senior PIK Toggle Notes | ||||||||
On October 1, 2012, Holding issued $450 million of Senior PIK Toggle Notes, or the PIK Notes, due 2017 and used the proceeds from the offering to pay an extraordinary dividend to its stockholders, pay debt issuance costs and make certain payments to members of management with rollover options in Holding. Cash interest accrues on these notes at a rate of 9.25% payable semi-annually on April 1 and October 1 commencing on April 1, 2013. PIK interest accrues on these notes at a rate of 10.0%. The Holding PIK Notes are Holding's senior unsecured indebtedness and are not guaranteed by any of its subsidiaries. | ||||||||
On August 30, 2013, Holding redeemed all of the PIK Notes at a redemption price equal to 102.75% of the aggregate principal amount of the PIK Notes, plus accrued and unpaid interest of $17.2 million. During the year ended December 31, 2013, Holding recorded a loss on early debt extinguishment of $29.5 million related to premiums and unamortized debt issuance costs from the redemption of the PIK Notes. | ||||||||
Long-term debt and capital leases consisted of the following (in thousands): | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
Senior unsecured notes due 2019 | $ | 607,750 | $ | 935,000 | ||||
Senior secured term loan due 2018 (4.00% at December 31, 2013) | 1,302,945 | 1,166,316 | ||||||
Discount on senior secured term loan | (4,217 | ) | (5,707 | ) | ||||
ABL Facility | — | 125,000 | ||||||
Notes due at various dates from 2014 to 2022 with interest rates from 6% to 10% | 852 | 1,149 | ||||||
Capital lease obligations due at various dates from 2014 to 2018 | 369 | 447 | ||||||
| | | | | | | | |
1,907,699 | 2,222,205 | |||||||
Less current portion | (12,318 | ) | (12,282 | ) | ||||
| | | | | | | | |
Total long-term debt—Corporation | $ | 1,895,381 | $ | 2,209,923 | ||||
Senior PIK Toggle Notes due 2017—adjustment for Holding | — | 437,175 | ||||||
| | | | | | | | |
Total long-term debt—Holding | $ | 1,895,381 | $ | 2,647,098 | ||||
| | | | | | | | |
| | | | | | | | |
The aggregate amount of minimum payments required on long-term debt and capital lease obligations (see Note 17) in each of the years indicated is shown in the table below. The $4.2 million difference between total payments shown below and the total outstanding debt is due to certain fees paid by the Company which have been classified as a reduction in the principal balance and are being amortized over the term of the related debt instruments. | ||||||||
Year ending December 31, (in thousands) | ||||||||
2014 | $ | 13,784 | ||||||
2015 | 13,501 | |||||||
2016 | 13,930 | |||||||
2017 | 13,471 | |||||||
2018 | 13,389 | |||||||
Thereafter | 1,843,841 | |||||||
| | | | | ||||
$ | 1,911,916 | |||||||
| | | | | ||||
| | | | | ||||
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2013 | |
Derivative Instruments and Hedging Activities | ' |
Derivative Instruments and Hedging Activities | ' |
11. Derivative Instruments and Hedging Activities | |
The Company manages its exposure to changes in market interest rates and fuel prices and from time to time uses highly effective derivative instruments to manage well-defined risk exposures. The Company monitors its positions and the credit ratings of its counterparties and does not anticipate non-performance by the counterparties. The Company does not use derivative instruments for speculative purposes. | |
At December 31, 2013, the Company was party to a series of fuel hedge transactions with a major financial institution under one master agreement. Each of the transactions effectively fixes the cost of diesel fuel at prices ranging from $3.63 to $4.02 per gallon. The Company purchases the diesel fuel at the market rate and periodically settles with its counterparty for the difference between the national average price for the period published by the Department of Energy and the agreed upon fixed price. The transactions fix the price for a total of 2.5 million gallons, which represents approximately 25.2% of the Company's total estimated usage during the periods hedged, through December 2014. The Company recorded, as a component of other comprehensive income before applicable tax impacts, an asset associated with the fair value of the fuel hedge in the amount of $0.7 million and $0.6 million as of December 31, 2013 and 2012, respectively. Over the next twelve months, the Company expects to reclassify $0.7 million of deferred gain from accumulated other comprehensive income as the related fuel hedge transactions mature. Settlement of hedge agreements are included in operating expenses and resulted in net receipts from the counterparty of $0.5 million and $1.0 million for the years ended December 31, 2013 and 2012, respectively, and net payments to the counterparty of $1.5 million for the Successor period from May 25, 2011 through December 31, 2011 and $1.0 million for the Predecessor period from January 1, 2011 through May 24, 2011. | |
In October 2011, the Company entered into interest rate swap agreements that mature on August 31, 2015. The swap agreements are with major financial institutions and effectively convert a total of $400 million in variable rate debt to fixed rate debt with an effective rate of 4.49%. The Company continues to make interest payments based on the variable rate associated with the debt (based on LIBOR, but not less than 1.0%) and periodically settles with its counterparties for the difference between the rate paid and the fixed rate. The Company recorded, as a component of other comprehensive income before applicable tax impacts, a liability associated with the fair value of the interest rate swap in the amount of $3.1 million and $4.6 million as of December 31, 2013 and 2012, respectively. Over the next twelve months, the Company expects to reclassify $2.1 million of deferred loss from accumulated other comprehensive income to interest expense as the related interest rate swap transactions mature. Settlement of interest rate swap agreements are included in interest expense and resulted in net payments to the counterparties of $2.0 million and $0.5 million for the years ended December 31, 2013 and 2012, respectively. | |
Changes_in_Accumulated_Other_C
Changes in Accumulated Other Comprehensive Income by Component | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Changes in Accumulated Other Comprehensive Income by Component | ' | |||||||||||||
Changes in Accumulated Other Comprehensive Income by Component | ' | |||||||||||||
12. Changes in Accumulated Other Comprehensive Income by Component | ||||||||||||||
The following table summarizes the changes in the Company's AOCI by component for the year ended December 31, 2013. All amounts are after tax and in thousands. | ||||||||||||||
Fuel hedge | Interest | Unrealized | Total | |||||||||||
rate swap | holding gains on | |||||||||||||
available-for-sale | ||||||||||||||
securities | ||||||||||||||
Balance at January 1, 2012 | $ | (1,201 | ) | $ | (41 | ) | $ | (1,460 | ) | $ | (2,702 | ) | ||
Other comprehensive income before reclassifications | 1,619 | (2,507 | ) | 3,297 | 2,409 | |||||||||
Amounts reclassified from accumulated other comprehensive income | 639 | (313 | ) | (246 | ) | 80 | ||||||||
| | | | | | | | | | | | | | |
Net current-period other comprehensive income | 2,258 | (2,820 | ) | 3,051 | (2,489 | ) | ||||||||
| | | | | | | | | | | | | | |
Balance at December 31, 2012 | 1,057 | (2,861 | ) | 1,591 | (213 | ) | ||||||||
Other comprehensive income before reclassifications | (396 | ) | (336 | ) | (598 | ) | (1,330 | ) | ||||||
Amounts reclassified from accumulated other comprehensive income | (241 | ) | 1,239 | (294 | ) | 704 | ||||||||
| | | | | | | | | | | | | | |
Net current-period other comprehensive income | (637 | ) | 903 | (892 | ) | (626 | ) | |||||||
| | | | | | | | | | | | | | |
Balance at December 31, 2013 | $ | 420 | $ | (1,958 | ) | $ | 699 | $ | (839 | ) | ||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
The following table shows the line item on the Consolidated Statements of Operations affected by reclassifications out of AOCI (in thousands). | ||||||||||||||
Amount reclassified | ||||||||||||||
from AOCI | ||||||||||||||
Details about AOCI components | Year ended | Year ended | Statements of Operations | |||||||||||
December 31, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Gains and losses on cash flow hedges | ||||||||||||||
Fuel hedge | $ | 386 | $ | 1,024 | Operating expenses | |||||||||
Interest rate swap | (1,986 | ) | (502 | ) | Interest expense | |||||||||
| | | | | | | | | ||||||
(1,600 | ) | 522 | Total before tax | |||||||||||
602 | (196 | ) | Tax benefit | |||||||||||
| | | | | | | | | ||||||
$ | (998 | ) | $ | 326 | Net of tax | |||||||||
| | | | | | | | | ||||||
| | | | | | | | | ||||||
Unrealized holding gains on available-for-sale securities | $ | 471 | $ | 394 | Realized gains (losses) on investments | |||||||||
| | | | | | | | | ||||||
471 | 394 | Total before tax | ||||||||||||
(177 | ) | (148 | ) | Tax expense | ||||||||||
| | | | | | | | | ||||||
$ | 294 | $ | 246 | Net of tax | ||||||||||
| | | | | | | | | ||||||
| | | | | | | | | ||||||
Equity
Equity | 12 Months Ended |
Dec. 31, 2013 | |
Equity | ' |
Equity | ' |
13. Equity | |
Equity Structure and Initial Public Offering—Holding | |
On August 13, 2013, Holding's Registration Statement was declared effective by the SEC for an initial public offering of its Common Stock. Holding registered the offering and sale of 42,000,000 shares of Common Stock and an additional 6,300,000 shares of Common Stock, which were sold to the underwriters pursuant to their option to purchase additional shares at a price of $23 per share. On August 19, 2013, Holding completed the offering of 48,300,000 shares of Common Stock, at a price of $23 per share, for an aggregate offering price of $1,110.9 million. At the closing, Holding received net proceeds of approximately $1,025.9 million, after deducting the underwriters' discounts and commissions paid and offering expenses of approximately $85.0 million, including a $20.0 million payment to CD&R in connection with the termination of a consulting agreement with Holding and Corporation ("Consulting Agreement") which was recorded to "Selling, general and administrative expenses" in the Company's Consolidated Statements of Operations, see Note 18. | |
Net proceeds from the initial public offering were used to (i) redeem in full Holding's PIK Notes for a total of $479.6 million, which included a call premium pursuant to the indenture governing the PIK Notes and all accrued but unpaid interest, (ii) pay CD&R the fee of $20.0 million to terminate the Consulting Agreement, (iii) pay $16.5 million to repay all outstanding revolving credit facility borrowings, and (iv) redeem $332.5 million of aggregate principal amount of the 2019 Notes of which $5.2 million was held by the Company's captive insurance subsidiary for a total of $356.5 million, which included a call premium pursuant to the indenture governing the 2019 Notes and all accrued but unpaid interest. The remaining proceeds will be used for general corporate purposes which may include, among other things, repayment of indebtedness and acquisitions. | |
Common Stock | |
Holders of Common Stock are entitled: | |
• | |
To cast one vote for each share held of record on all matters submitted to a vote of the stockholders; | |
• | |
To receive, on a pro rata basis, dividends and distributions, if any, that the Board of Directors may declare out of legally available funds, subject to preferences that may be applicable to preferred stock, if any, then outstanding; and | |
• | |
Upon Holding's liquidation, dissolution or winding up, to share equally and ratably in any assets remaining after the payment of all debt and other liabilities, subject to the prior rights, if any, of holders of any outstanding shares of preferred stock. | |
Holding's ability to pay dividends on its Common Stock is subject to its subsidiaries' ability to pay dividends to Holding, which is in turn subject to the restrictions set forth in the Senior Secured Credit Facilities and the indenture governing the 2019 Notes. | |
Preferred Stock | |
Under Holding's amended and restated certificate of incorporation, Holding's Board of Directors has the authority, without further action by its stockholders, to issue up to 200,000,000 shares of preferred stock in one or more series and to fix the voting powers, designations, preferences and the relative participating, optional or other special rights and qualifications, limitations and restrictions of each series, including dividend rights, dividend rates, conversion rights, voting rights, terms of redemption, liquidation preferences and the number of shares constituting any series. | |
Equity Structure—Corporation | |
On February 13, 2011, Corporation entered into an Agreement and Plan of Merger (the "Merger Agreement") with Parent and CDRT Merger Sub, Inc. ("Merger Sub"), formerly a wholly owned subsidiary of Parent. Pursuant to the Merger Agreement, Merger Sub merged with and into Corporation, with Corporation as the surviving corporation and a wholly owned subsidiary of Parent on May 25, 2011. Immediately following the Merger, all of the outstanding common stock of Parent was owned by Holding, which is owned by affiliates of CD&R and members of management and directors of Corporation. | |
Prior to the Merger, Corporation acted as the general partner and majority equity holder of EMS LP, with the balance of the EMS LP equity held by persons affiliated with Corporation's previous principal equity holder. The EMS LP equity was exchangeable at any time for shares of Corporation's common stock, and holders of the LP exchangeable units had the right to vote at stockholder meetings with limited exceptions. Accordingly, prior to the Merger, Corporation accounted for the LP exchangeable units as if the LP exchangeable units were shares of its common stock, including reporting the LP exchangeable units in the equity section of Corporation's balance sheet and including the number of outstanding LP exchangeable units in both its basic and diluted earnings per share calculations. | |
On May 25, 2011, in connection with the Merger, the equity structure of Holding was altered as follows: | |
• | |
LP units of the entity formerly known as EMS LP were exchanged for Corporation common stock; | |
• | |
outstanding shares of Corporation common stock were converted into the right to receive $6.88 per share in cash, without interest and less any applicable withholding taxes; | |
• | |
options to purchase shares of Corporation common stock (other than options that were rolled over by certain members of management as described below), vested or unvested, were cancelled and each option was converted into the right to receive a cash payment equal to the excess (if any) of $6.88 per share over the exercise price per share of the option times the number of shares subject to the option, without interest and less any applicable withholding taxes; | |
• | |
restricted shares, vested or unvested, were fully vested at the effective time and canceled and extinguished and each restricted share was converted into the right to receive $6.88 per share in cash, without interest and less any applicable withholding taxes; | |
• | |
restricted stock units, vested or unvested, were cancelled and extinguished, and each restricted stock unit was converted into the right to receive a cash payment equal to $6.88 per share times the number of shares of Corporation common stock subject to such restricted stock units, without interest and less any applicable withholding taxes; | |
• | |
investment funds (the "CD&R Affiliates") sponsored by, or affiliated with, CD&R invested $887.1 million in the common stock of Holding, the proceeds of which were contributed to Parent, and the remainder of the acquisition consideration for the Merger was funded through a variety of debt instruments; | |
• | |
certain members of management rolled over existing options to purchase Corporation common stock with an aggregate value of $28.3 million, based on the Merger consideration price, into options to purchase common stock of Holding; and | |
• | |
Merger Sub merged with and into Corporation, with Corporation as the surviving corporation. | |
The Merger was financed by a combination of borrowings under Corporation's new senior secured term loan facility, the issuance of new senior unsecured notes, and the equity investment by the CD&R Affiliates and members of Corporation management. The acquisition consideration was approximately $3.2 billion including approximately $150 million in capitalized issuance costs, of which $109 million are debt issuance costs. The Merger was funded primarily through equity contributions of $915 million from the CD&R Affiliates and members of Corporation management and $2.4 billion in debt financing discussed more fully in Note 10. | |
During the period from January 1, 2011 through May 24, 2011, Corporation recorded $29.8 million of pretax Merger related costs consisting primarily of investment banking, accounting and legal fees. The Company recorded $3.2 million of additional Merger related costs in the Successor period from May 25, 2011 through December 31, 2011. Corporation also recognized a pretax charge of $12.4 million in the Predecessor period related to accelerated vesting of all outstanding unvested stock options, restricted stock awards and restricted stock units including associated payroll taxes and $10.1 million related to loss on early debt extinguishment. | |
Restructuring
Restructuring | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Restructuring | ' | |||||||||||||||||||
Restructuring | ' | |||||||||||||||||||
14. Restructuring | ||||||||||||||||||||
The Company recorded a restructuring charge of $5.7 million and $14.1 million during the years ended December 31, 2013 and 2012, respectively, and $6.5 million for the Successor period from May 25, 2011 through December 31, 2011 related to continuing efforts to re-align AMR's operations and the reorganization of EmCare's geographic regions. Payments currently under this plan are expected to be complete by March 2015. | ||||||||||||||||||||
AMR | ||||||||||||||||||||
Lease & | ||||||||||||||||||||
Other | ||||||||||||||||||||
Contract | ||||||||||||||||||||
Termination | EmCare | Corporation | ||||||||||||||||||
Cost | Severance | Lease | Severance | Severance | Total | |||||||||||||||
(in thousands) | ||||||||||||||||||||
Balance at January 1, 2012 | $ | 3,620 | $ | 474 | $ | 94 | $ | 6 | $ | 171 | $ | 4,365 | ||||||||
Incurred | 5,901 | 6,566 | — | 812 | 807 | 14,086 | ||||||||||||||
Paid | (1,929 | ) | (4,025 | ) | (94 | ) | (45 | ) | (570 | ) | (6,663 | ) | ||||||||
Adjustments | 530 | — | — | — | — | 530 | ||||||||||||||
| | | | | | | | | | | | | | | | | | | | |
Balance at December 31, 2012 | $ | 8,122 | $ | 3,015 | $ | — | $ | 773 | $ | 408 | $ | 12,318 | ||||||||
Incurred | 1,876 | 2,890 | — | 913 | 20 | 5,699 | ||||||||||||||
Paid | (6,989 | ) | (3,765 | ) | — | (1,204 | ) | (377 | ) | (12,335 | ) | |||||||||
| | | | | | | | | | | | | | | | | | | | |
Balance at December 31, 2013 | $ | 3,009 | $ | 2,140 | — | $ | 482 | $ | 51 | $ | 5,682 | |||||||||
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Retirement_Plans_and_Employee_
Retirement Plans and Employee Benefits | 12 Months Ended |
Dec. 31, 2013 | |
Retirement Plans and Employee Benefits | ' |
Retirement Plans and Employee Benefits | ' |
15. Retirement Plans and Employee Benefits | |
The Company maintains two 401(k) plans (the "401(k) Plans") and a money purchase plan, collectively "the Plans", for its employees and employees of certain subsidiaries who meet the eligibility requirements set forth in the Plans. The money purchase plan is frozen to new participants. Employees may contribute a maximum of 40% of their compensation each year up to the annual limit established by the Internal Revenue Service ($17,500 in 2013). The 401(k) Plans provide a 50% match on up to 6% of eligible compensation. | |
The Company's contributions to the Plans were $9.3 million and $12.3 million for the years ended December 31, 2013 and 2012, respectively, and $7.8 million and $5.4 million for the Successor period from May 25, 2011 through December 31, 2011 and the Predecessor period from January 1, 2011 through May 24, 2011, respectively. Contributions are included in compensation and benefits in the accompanying statements of operations. | |
EmCare serves as Plan Administrator on a qualified retirement plan established in March 1998 called the Associated Physicians' Retirement Plan (the "Plan"). This plan provides retirement benefits to employed physicians and clinicians in the professional corporations that have adopted this multiple employer plan. Eligible employees may immediately elect to contribute 1% to 25% of their annual compensation on a tax-deferred basis subject to limits established by the Internal Revenue Service through the 401(k) component of the Plan. The Plan also has a separate component that allows participants the ability to make a one-time irrevocable election to reduce their annual compensation up to 20% in exchange for a contribution made to their retirement account from their respective employer company. Total contributions from the subscribing employers were $2.0 million and $2.5 million for the years ended December 31, 2013 and 2012, respectively, and $2.7 million and $0.9 million for the Successor period from May 25, 2011 through December 31, 2011 and the Predecessor period from January 1, 2011 through May 24, 2011, respectively. | |
Equity_Based_Compensation
Equity Based Compensation | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Equity Based Compensation | ' | |||||||||||
Equity Based Compensation | ' | |||||||||||
16. Equity Based Compensation | ||||||||||||
Omnibus Incentive Plan | ||||||||||||
Upon completion of Holding's initial public offering, the previous stock compensation plan ("Stock Compensation Plan") terminated and the Envision Healthcare Holdings, Inc. 2013 Omnibus Incentive Plan ("Omnibus Incentive Plan") was adopted pursuant to which options and awards with respect to a total of 16,708,289 shares of Common Stock are available for grant. As of December 31, 2013, a total of 16,614,307 shares remained available for grant under the Omnibus Incentive Plan. Awards under the Omnibus Incentive Plan include both performance and non-performance based awards. As of December 31, 2013, no grants of performance based awards under the Omnibus Incentive Plan had been made. Options are granted with exercise prices equal to the fair value of Holding's common stock at the date of grant. No participant may be granted in any calendar year awards covering more than 2.5 million shares of Common Stock or 1.5 million performance awards up to a maximum dollar value of $5.0 million. Non-performance based awards vest ratably over five years. Performance based awards vest upon achievement of certain company-wide objectives. All options have 10 year terms. | ||||||||||||
Stock Compensation Plan | ||||||||||||
Awards previously granted under the Stock Compensation Plan were unaffected by the termination of the Stock Compensation Plan; however no future grants will be made under the Stock Compensation Plan. | ||||||||||||
Management of Corporation was allowed to rollover stock options they held prior to the Merger into fully vested options of Holding. Additionally, Holding established a stock compensation plan after the Merger whereby certain members of management, officers, and directors were awarded stock options in Holding. These options have a $3.69 strike price, which was reduced from the original strike price of $6.88 in connection with a dividend paid by Holding in October 2012. They vest ratably through December 2015 and have a maximum term of 10 years. | ||||||||||||
Equity Based Compensation | ||||||||||||
A compensation charge of $4.2 million and $4.2 million was recorded for shares vested during the years ended December 31, 2013 and 2012, respectively, and $4.1 million was recorded for shares vested during the Successor period from May 25, 2011 through December 31, 2011 in "Selling, general and administrative expenses" included in the accompanying Consolidated Statements of Operations and Comprehensive Income. | ||||||||||||
The Company realized less than $1.0 million of tax benefits from stock awards exercised during each of the years ended December 31, 2013 and 2012, and the Successor period from May 25, 2011 through December 31, 2011. | ||||||||||||
Equity Award Activity | ||||||||||||
Stock option activity for the year ended December 31, 2013 was as follows (in thousands): | ||||||||||||
Class A | Weighted | Aggregate | Weighted | |||||||||
Shares | Average | Intrinsic Value | Average | |||||||||
Exercise | Remaining Life | |||||||||||
Price | ||||||||||||
Outstanding at beginning of year | 17,847,162 | $ | 3.35 | $ | 36,801 | 7.1 years | ||||||
Granted | 590,198 | $ | 8.66 | |||||||||
Exercised | (1,786,485 | ) | $ | 1.78 | ||||||||
Forfeited | (328,727 | ) | $ | 3.84 | ||||||||
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Outstanding at end of year | 16,322,148 | $ | 3.7 | $ | 519,325 | 6.6 years | ||||||
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Exercisable at end of year | 11,115,129 | $ | 3.44 | $ | 356,593 | 6.1 years | ||||||
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In August 2011, the non-employee directors of the Company, other than the Chairman of the Board, were given the option to defer a portion of their director fees and receive it in the form of restricted stock units ("RSUs"). As of December 31, 2013, the Company granted 36,679 RSUs based on a market price of $6.88 per share, 7,328 RSUs based on a market price of $8.60 per share, 25,052 RSUs based on a market price of $5.41 per share, 9,214 RSUs based on a market price of $7.85 per share, 567 RSUs based on a market price of $26.03 per share, and 415 RSUs based on a market price of $35.52 per share as annual director fees. The RSUs are fully vested when granted. | ||||||||||||
During 2012, Holding granted 276,480 options at an exercise price of $6.88. The exercise price was reduced to $3.69 in connection with a dividend paid by Holding in October 2012. Of these options, 188,880 were 40% vested on the grant date and the remaining shares vest ratably through 2014 provided certain performance criteria are realized. The remaining 87,600 options vest ratably through 2017. | ||||||||||||
Valuation | ||||||||||||
The fair value of each stock option award is estimated on the grant date, using the Black-Scholes valuation model with the following assumptions indicated in the below table. The volatility assumptions were based on the historical stock volatility of the Predecessor, the stock volatility of publicly traded peer companies and in consultation with a valuation specialist. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Volatility | 30% - 35% | 30% | 30% | |||||||||
Risk free rate | 0.67% - 1.56% | 0.2% - 0.82% | 0.50% | |||||||||
Expected dividend yield | 0% | 0% | 0% | |||||||||
Expected term of options in years | 5 | 2.0 - 5.0 | 4.6 | |||||||||
The weighted average fair values of stock options granted during 2013 and 2012 were $2.44 and $0.96 per share, respectively. The total intrinsic value of stock options exercised during the years ended December 31, 2013 and 2012 was $9.4 million and $2.5 million, respectively. | ||||||||||||
As of December 31, 2013, total unrecognized compensation cost related to unvested stock awards was $8.7 million which will be recognized over the remaining vesting period. | ||||||||||||
Predecessor Equity Plans | ||||||||||||
Total stock-based compensation expense recognized resulting from stock options, non-vested restricted stock awards and non-vested restricted stock units was $15.1 million for the Predecessor period from January 1, 2011 through May 24, 2011. Included in the Predecessor period from January 1, 2011 through May 24, 2011 is $11.7 million of stock-based compensation expense and $0.7 million of payroll tax expense due to the accelerated vesting of stock options, restricted stock awards and restricted stock units as the result of change in control provisions upon closing of the Merger. | ||||||||||||
As discussed in Note 13, vesting of stock options, restricted stock awards and restricted stock units was accelerated upon closing of the Merger. As a result, holders of stock options received cash equal to the intrinsic value of the awards based on a market price of $6.88 per share while holders of restricted stock awards and restricted stock units received $6.88 per share in cash, without interest and the associated options and restricted stock were cancelled. | ||||||||||||
The total intrinsic value of options exercised under the Predecessor Equity Plans during the Predecessor periods from January 1, 2011 through May 24, 2011 was $1.0 million. | ||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies | ' | |||||||
Commitments and Contingencies | ' | |||||||
17. Commitments and Contingencies | ||||||||
Lease Commitments | ||||||||
The Company leases various facilities and equipment under operating lease agreements. Rental expense incurred under these leases was $44.8 million and $42.9 million for the years ended December 31, 2013 and 2012, respectively, and $25.7 million and $17.2 million for the Successor period from May 25, 2011 through December 31, 2011 and the Predecessor period from January 1, 2011 through May 24, 2011, respectively. | ||||||||
The Company also records certain leasehold improvements under capital leases. Assets under capital leases are capitalized using inherent interest rates at the inception of each lease. Capital leases are collateralized by the underlying assets. | ||||||||
Future commitments under non-cancelable capital and operating leases for premises, equipment and other recurring commitments are as follows (in thousands): | ||||||||
Capital | Operating | |||||||
Leases | Leases & | |||||||
Other | ||||||||
Year ending December 31, | ||||||||
2014 | $ | 106 | $ | 73,954 | ||||
2015 | 106 | 44,566 | ||||||
2016 | 106 | 38,323 | ||||||
2017 | 106 | 33,140 | ||||||
2018 | 20 | 25,247 | ||||||
Thereafter | — | 41,867 | ||||||
| | | | | | | | |
444 | $ | 257,097 | ||||||
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| | | | | | | | |
Less imputed interest | (75 | ) | ||||||
| | | | | | | | |
Total capital lease obligations | 369 | |||||||
Less current portion | (76 | ) | ||||||
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Long-term capital lease obligations | $ | 293 | ||||||
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Services | ||||||||
The Company is subject to the Medicare and Medicaid fraud and abuse laws which prohibit, among other things, any false claims, or any bribe, kickback or rebate in return for the referral of Medicare and Medicaid patients. Violation of these prohibitions may result in civil and criminal penalties and exclusion from participation in the Medicare and Medicaid programs. Management has implemented policies and procedures that management believes will assure that the Company is in substantial compliance with these laws and regulations but there can be no assurance the Company will not be found to have violated certain of these laws and regulations. From time to time, the Company receives requests for information from government agencies pursuant to their regulatory or investigational authority. Such requests can include subpoenas or demand letters for documents to assist the government agencies in audits or investigations. The Company is cooperating with the government agencies conducting these investigations and is providing requested information to the government agencies. Other than the proceedings described below, management believes that the outcome of any of these investigations would not have a material adverse effect on the Company. | ||||||||
Like other ambulance companies, AMR has provided discounts to its healthcare facility customers (nursing homes and hospitals) in certain circumstances. The Company has attempted to comply with applicable law where such discounts are provided. During the first quarter of fiscal 2004, the Company was advised by the U.S. Department of Justice ("DOJ") that it was investigating certain business practices at AMR. The specific practices at issue were (i) whether ambulance transports involving Medicare eligible patients complied with the "medical necessity" requirement imposed by Medicare regulations, (ii) whether patient signatures, when required, were properly obtained from Medicare eligible patients, and (iii) whether discounts in violation of the federal Anti-Kickback Statute were provided by AMR in exchange for referrals involving Medicare eligible patients. In connection with the third issue, the government alleged that certain of AMR's hospital and nursing home contracts in effect in Texas in periods prior to 2002 contained discounts in violation of the federal Anti-Kickback Statute. The Company negotiated a settlement with the government pursuant to which the Company paid $9 million and obtained a release of all claims related to such conduct alleged to have occurred in Texas in periods prior to 2002. In connection with the settlement, AMR entered into a Corporate Integrity Agreement ("CIA") which was effective for a period of five years beginning September 12, 2006, and which was released in February 2012. | ||||||||
In December 2006, AMR received a subpoena from the DOJ. The subpoena requested copies of documents for the period from January 2000 through the present. The subpoena required AMR to produce a broad range of documents relating to the operations of certain AMR affiliates in New York. The Company produced documents responsive to the subpoena. The government identified claims for reimbursement that the government believes lack support for the level billed, and invited the Company to respond to the identified areas of concern. The Company reviewed the information provided by the government and provided its response. On May 20, 2011, AMR entered into a settlement agreement with the DOJ and a CIA with the Office of Inspector General of the Department of Health and Human Services ("OIG") in connection with this matter. Under the terms of the settlement, AMR paid $2.7 million to the federal government. In connection with the settlement, the Company entered into a CIA with a five- year period beginning May 20, 2011. Pursuant to this CIA, the Company is required to maintain a compliance program, which includes, among other elements, the appointment of a compliance officer and committee, training of employees nationwide, safeguards for its billing operations as they relate to services provided in New York, including specific training for operations and billing personnel providing services in New York, review by an independent review organization and reporting of certain reportable events. The Company entered into the settlement in order to avoid the uncertainties of litigation, and has not admitted any wrongdoing. In May 2013, a subsidiary of the Company entered into an agreement to divest substantially all the assets underlying AMR's services in New York, although the obligations of the Company's compliance program will remain in effect following the expected divestiture. The divesture was completed on July 1, 2013. | ||||||||
In July 2011, AMR received a subpoena from the Civil Division of the U.S. Attorney's Office for the Central District of California ("USAO") seeking certain documents concerning AMR's provision of ambulance services within the City of Riverside, California. The USAO indicated that it, together with the OIG, was investigating whether AMR violated the federal False Claims Act and/or the federal Anti-Kickback Statute in connection with AMR's provision of ambulance transport services within the City of Riverside. The California Attorney General's Office conducted a parallel state investigation for possible violations of the California False Claims Act. In December 2012, AMR was notified that both investigations were concluded and that the agencies had closed the matter. There were no findings made against AMR, and the closure of the matter did not require any payments from AMR. | ||||||||
Letters of Credit | ||||||||
At December 31, 2013 and 2012, the Company had $132.5 million and $130.2 million, respectively, in outstanding letters of credit. | ||||||||
Other Legal Matters | ||||||||
Four different lawsuits purporting to be class actions have been filed against AMR and certain subsidiaries in California alleging violations of California wage and hour laws. On April 16, 2008, Laura Bartoni commenced a suit in the Superior Court for the State of California, County of Alameda; on July 8, 2008, Vaughn Banta filed suit in the Superior Court of the State of California, County of Los Angeles; on January 22, 2009, Laura Karapetian filed suit in the Superior Court of the State of California, County of Los Angeles, and on March 11, 2010, Melanie Aguilar filed suit in Superior Court of the State of California, County of Los Angeles. The Banta, Aguilar and Karapetian cases have been coordinated in the Superior Court for the State of California, County of Los Angeles, and the Aguilar and Karapetian cases have subsequently been consolidated into a single action. Plaintiffs allege principally that the AMR entities failed to pay overtime wages pursuant to California law, and failed to provide required meal breaks, rest breaks or pay premium compensation for missed breaks. Plaintiffs are seeking to certify the classes and are seeking lost wages, penalties, attorneys' fees and other sanctions permitted under California law for violations of wage hour laws. At the present time, the courts have not certified classes in any of these cases. In a hearing on February 25, 2014 in the Banta and Aguilar/Karapetian cases, the court indicated that it intends to certify classes on some issues, and deny certification on some issues, but is has not signed an order to such effect. The Company is unable at this time to estimate the amount of potential damages, if any in any of these actions. | ||||||||
Merion Capital, L.P. ("Merion"), a former stockholder of Corporation, filed an action in the Delaware Court of Chancery seeking to exercise its right to appraisal of its holdings in Corporation prior to the Merger. During the year ended December 31, 2013, the Company expensed $8.4 million of legal settlement costs and $1.9 million of interest. On April 15, 2013, the Company paid $52.1 million in a settlement of Merion's appraisal action, in which Merion agreed to release its claims against the Company. $13.7 million of this payment is included in cash flows from operations and $38.3 million is included in cash flows from financing activities on the statements of cash flows for the year ended December 31, 2013. | ||||||||
On August 7, 2012, EmCare received a subpoena from the OIG requesting copies of documents for the period from January 1, 2007 through the present that appears to primarily be focused on EmCare's contracts for services at hospitals that are affiliated with Health Management Associates, Inc. ("HMA"). The Company has been cooperating with the government during its investigation and, as such, continues to gather responsive documents. During the months of December 2013 and January 2014, several lawsuits filed by whistleblowers on behalf of the federal and certain state governments against HMA have been unsealed; the Company is a named defendant in two of these lawsuits. Although the federal government intervened in these lawsuits in connection with certain of the allegations against HMA, the federal government has not, at this time, disclosed whether it will intervene in these matters as they relate to the Company. The Company continues to engage in meaningful dialogue with the relevant government representatives and, at this time, the Company is unable to determine the potential impact, if any, that will result from this investigation. | ||||||||
On February 5, 2013, Air Ambulance Specialists, Inc. received a subpoena from the Federal Aviation Administration relating to its operations as an indirect air carrier and its relationships with Part 135 direct air carriers. The Company intends to cooperate with the government during its investigation and, as such, are in the process of gathering responsive documents, formulating a written response to the subpoena and seeking to engage in a meaningful dialogue with the relevant government representatives. At this time, the Company is unable to determine the potential impact, if any, that will result from this investigation. | ||||||||
On February 14, 2013, EmCare received a subpoena from the OIG requesting documents and other information relating to EmCare's relationship with Community Health Services, Inc. ("CHS"). The Company intends to cooperate with the government during its investigation and, as such, is in the process of gathering responsive documents, formulating a written response to the subpoena and is seeking to engage in a meaningful dialogue with the relevant government representatives. At this time, the Company is unable to determine the potential impact, if any, that will result from these investigations. | ||||||||
In November 2013, AMR received a subpoena from the New Hampshire Department of Insurance directed to American Medical Response of Massachusetts, Inc. The subpoena requested documents relating to ambulance services provided to approximately 150 patients residing in the state of New Hampshire who had been involved in motor vehicle accidents and who were ultimately transported by AMR. In addition, the subpoena requested information relating to any agreements for reimbursement between AMR and Progressive Insurance. The Company is cooperating with the Department during its investigation and, as such, is in the process of gathering responsive documents, formulating a response to the subpoena, and is seeking to engage in a meaningful dialogue with the relevant New Hampshire Department of Insurance and Attorney General's Office representatives. At this time, the Company is unable to determine the potential impact, if any, that will result from this investigation. | ||||||||
The Company is involved in other litigation arising in the ordinary course of business. Management believes the outcome of these legal proceedings will not have a material adverse impact on its financial condition, results of operations or liquidity. | ||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions | ' |
Related Party Transactions | ' |
18. Related Party Transactions | |
CD&R Affiliates | |
Holding and Corporation were party to the Consulting Agreement with CD&R dated May 25, 2011, pursuant to which CD&R provided the Company and its subsidiaries with financial, investment banking, management, advisory and other services in exchange for an annual fee of $5.0 million. The Company expensed $23.1 million and $5.0 million during the years ended December 31, 2013 and 2012, respectively, and $3.0 million during the Successor period from May 25, 2011 through December 31, 2011 in respect of this fee. | |
Pursuant to the Consulting Agreement, CD&R received a transaction fee of $40.0 million and $2.6 million for out-of-pocket and consulting expenses to third-parties CD&R paid prior to the closing of the Merger. This amount was capitalized as part of the Merger and allocated between deferred financing costs, which is included in other long-term assets, and equity on the accompanying balance sheet as of December 31, 2012. | |
During the year ended December 31, 2013, the Company made a $20.0 million payment to CD&R with proceeds received from the initial public offering of Common Stock of Holding to terminate the Consulting Agreement. | |
Onex Corporation | |
The Company was party to a management agreement with a wholly-owned subsidiary of Onex Corporation, the Company's prior principal equity holder, until May 25, 2011. In exchange for an annual management fee of $1.0 million, the Onex subsidiary provided the Company with corporate finance and strategic planning consulting services. For the Predecessor period from January 1, 2011 through May 24, 2011 the Company expensed $0.4 million. | |
Transactions between Holding and Corporation | |
On April 1, 2013, Corporation declared and paid a dividend to Parent which in turn paid a dividend to Holding in the amount of $20.8 million. These funds were used by Holding to pay interest due on Holding's Senior PIK Toggle Notes due 2017. | |
During the year ended December 31, 2013, Holding made a $489.3 million distribution to Corporation with proceeds received from the initial public offering of Common Stock of Holding to pay off debt and for other general corporate purposes. | |
Variable_Interest_Entities
Variable Interest Entities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Variable Interest Entities | ' | |||||||
Variable Interest Entities | ' | |||||||
19. Variable Interest Entities | ||||||||
GAAP requires the assets, liabilities, noncontrolling interests and activities of Variable Interest Entities ("VIEs") to be consolidated if an entity's interest in the VIE has specific characteristics including: voting rights not proportional to ownership and the right to receive a majority of expected income or absorb a majority of expected losses. In addition, the entity exposed to the majority of the risks and rewards associated with the VIE is deemed its primary beneficiary and must consolidate the entity. | ||||||||
EmCare entered into an agreement in 2011 with an indirect wholly-owned subsidiary of HCA Holdings Inc. to form an entity which would provide physician services to various healthcare facilities ("HCA-EmCare JV"). HCA-EmCare JV began providing services to healthcare facilities during the first quarter of 2012 and meets the definition of a VIE. The Company determined that, although EmCare only holds 50% voting control, EmCare is the primary beneficiary and must consolidate this VIE because: | ||||||||
• | ||||||||
EmCare provides management services to HCA-EmCare JV including recruiting, credentialing, scheduling, billing, payroll, accounting and other various administrative services and therefore substantially all of HCA-EmCare JV's activities involve EmCare; and | ||||||||
• | ||||||||
as payment for management services, EmCare is entitled to receive a base management fee from HCA-EmCare JV as well as a bonus management fee. | ||||||||
The following is a summary of the HCA-EmCare JV assets and liabilities as of December 31, 2013 and 2012, which are included in the Company's consolidated financial statements (in thousands). | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
Current assets | $ | 88,479 | $ | 31,142 | ||||
Current liabilities | 22,005 | 20,081 |
Insurance
Insurance | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Insurance | ' | |||||||||||||||
Insurance | ' | |||||||||||||||
20. Insurance | ||||||||||||||||
Insurance reserves are established for automobile, workers compensation, general liability and professional liability claims utilizing policies with both fully-insured and self-insured components. This includes the use of an off-shore captive insurance program through a wholly-owned subsidiary for certain professional (medical malpractice), auto, workers' compensation and general liability programs for both EmCare and AMR. In those instances where the Company has obtained third-party insurance coverage, the Company normally retains liability for the first $1 to $3 million of the loss. Insurance reserves cover known claims and incidents within the level of Company retention that may result in the assertion of additional claims, as well as claims from unknown incidents that may be asserted arising from activities through December 31, 2013. | ||||||||||||||||
The Company establishes reserves for claims based upon an assessment of claims reported and claims incurred but not reported. The reserves are established based on consultation with third-party independent actuaries using actuarial principles and assumptions that consider a number of factors, including historical claim payment patterns (including legal costs) and changes in case reserves and the assumed rate of inflation in health care costs and property damage repairs. Claims, other than general liability claims, are discounted at a rate of 1.5%. General liability claims are not discounted. | ||||||||||||||||
Provisions for insurance expense included in the statements of operations include annual provisions determined in consultation with third-party actuaries and premiums paid to third-party insurers. | ||||||||||||||||
The table below summarizes the non-health and welfare insurance reserves included in the accompanying balance sheets (in thousands): | ||||||||||||||||
Accrued | Insurance | Total | ||||||||||||||
Liabilities | Reserves | Liabilities | ||||||||||||||
December 31, 2013 | ||||||||||||||||
Automobile | $ | 7,034 | $ | 5,779 | $ | 12,813 | ||||||||||
Workers compensation | 21,876 | 32,097 | 53,973 | |||||||||||||
General/Professional liability | 44,828 | 137,551 | 182,379 | |||||||||||||
| | | | | | | | | | | ||||||
$ | 73,738 | $ | 175,427 | $ | 249,165 | |||||||||||
| | | | | | | | | | | ||||||
| | | | | | | | | | | ||||||
December 31, 2012 | ||||||||||||||||
Automobile | $ | 7,627 | $ | 6,619 | $ | 14,246 | ||||||||||
Workers compensation | 20,970 | 32,728 | 53,698 | |||||||||||||
General/Professional liability | 20,627 | 150,026 | 170,653 | |||||||||||||
| | | | | | | | | | | ||||||
$ | 49,224 | $ | 189,373 | $ | 238,597 | |||||||||||
| | | | | | | | | | | ||||||
| | | | | | | | | | | ||||||
The changes to the Company's estimated losses under self-insured programs were as follows (in thousands): | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31 | December 31 | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Balance, beginning of period | $ | 238,597 | $ | 247,872 | $ | 216,076 | $ | 208,407 | ||||||||
Expense for current period reserves | 74,501 | 77,003 | 51,144 | 25,562 | ||||||||||||
Unfavorable (favorable) changes to prior reserves | 9,141 | (2,480 | ) | 11,308 | 2,452 | |||||||||||
Changes in losses covered by commercial insurance programs | — | (9,185 | ) | 10,785 | — | |||||||||||
Payments for claims | (73,074 | ) | (74,613 | ) | (41,441 | ) | (31,045 | ) | ||||||||
| | | | | | | | | | | | | | | | |
Balance, end of period | 249,165 | 238,597 | 247,872 | 205,376 | ||||||||||||
Discount factor | 8,418 | 8,485 | 7,875 | 17,368 | ||||||||||||
| | | | | | | | | | | | | | | | |
Undiscounted reserve, end of period | $ | 257,583 | $ | 247,082 | $ | 255,747 | $ | 222,744 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
The following table reflects a summary of expected future claim payments relating to non-health and welfare insurance reserves (in thousands): | ||||||||||||||||
Year | Amount | |||||||||||||||
2014 | $ | 73,738 | ||||||||||||||
2015 | 72,140 | |||||||||||||||
2016 | 47,735 | |||||||||||||||
2017 | 27,567 | |||||||||||||||
2018 | 14,559 | |||||||||||||||
Thereafter | 13,426 | |||||||||||||||
| | | | | ||||||||||||
Total | $ | 249,165 | ||||||||||||||
| | | | | ||||||||||||
| | | | | ||||||||||||
Certain insurance programs also require the Company to maintain deposits with third-party insurers or with trustees to cover future claims costs. These deposits are included as insurance collateral in the accompanying balance sheets. Investments supporting insurance programs are comprised principally of government and investment grade securities and cash deposits with third parties. These investments are designated as available-for-sale and reported at fair value. Investment income earned on these investments is reported as interest income from restricted assets in the statements of operations. The following table summarizes these deposits and restricted investments (in thousands): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Restricted cash, cash equivalents and other | $ | 18,755 | $ | 5,327 | ||||||||||||
Restricted marketable securities | 8,333 | 19,154 | ||||||||||||||
Other short-term insurance collateral | 2,531 | — | ||||||||||||||
| | | | | | | | |||||||||
Insurance collateral—short-term | $ | 29,619 | $ | 24,481 | ||||||||||||
| | | | | | | | |||||||||
| | | | | | | | |||||||||
Restricted long-term investments | 4,894 | $ | 4,504 | |||||||||||||
Other long-term insurance collateral | 7,822 | 16,256 | ||||||||||||||
| | | | | | | | |||||||||
Insurance collateral—long-term | $ | 12,716 | $ | 20,760 | ||||||||||||
| | | | | | | | |||||||||
| | | | | | | | |||||||||
Insurance collateral and insurance related workers compensation and automobile reserves also includes a receivable from insurers of $1.3 million and $1.6 million as of December 31, 2013 and 2012, respectively, for liabilities in excess of the Company's self-insured retention. | ||||||||||||||||
Segment_Information
Segment Information | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Segment Information | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
21. Segment Information | ||||||||||||||||
The Company is organized around two separately managed business units: facility- based physician services and medical transportation services, which have been identified as operating segments. The facility-based physician services reportable segment provides physician services to hospitals primarily for emergency department, anesthesiology, hospitalist/inpatient, radiology, teleradiology and surgery services. It also offers physician-led care management solutions outside the hospital. The medical transportation services reportable segment focuses on providing a full range of medical transportation services from basic patient transit to the most advanced emergency care and pre-hospital assistance. The Chief Executive Officer has been identified as the chief operating decision maker ("CODM") as he assesses the performance of the business units and decides how to allocate resources to the business units. | ||||||||||||||||
Net income before equity in earnings of unconsolidated subsidiary, income taxes, loss on early debt extinguishment, interest and other (expense) income, realized gains (losses) on investments, interest expense, equity-based compensation expense, related party management fees, restructuring charges, and depreciation and amortization expense ("Adjusted EBITDA") is the measure of profit and loss that the CODM uses to assess performance, measure liquidity and make decisions. Adjusted EBITDA is not considered a measure of financial performance under GAAP and the items excluded from Adjusted EBITDA are significant components in understanding and assessing the Company's financial performance. Adjusted EBITDA should not be considered in isolation or as an alternative to such GAAP measures as net income, cash flows provided by or used in operating, investing or financing activities or other financial statement data presented in the Company's financial statements as an indicator of financial performance or liquidity. Since Adjusted EBITDA is not a measure determined to be in accordance with GAAP and is susceptible to varying calculations, Adjusted EBITDA, as presented, may not be comparable to other similarly titled measures of other companies. Pre-tax income from continuing operations represents net revenue less direct operating expenses incurred within the operating segments. The accounting policies for reported segments are the same as for the Company as a whole (see Note 2). | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31 | December 31 | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
(in thousands) | ||||||||||||||||
Facility-Based Physician Services | ||||||||||||||||
Net revenue | $ | 2,358,787 | $ | 1,915,148 | $ | 1,025,003 | $ | 642,059 | ||||||||
Income from operations | 219,842 | 199,300 | 103,532 | 60,710 | ||||||||||||
Segment Adjusted EBITDA | 294,033 | 260,657 | 141,374 | 77,686 | ||||||||||||
Goodwill | 1,574,882 | 1,555,924 | 1,622,309 | — | ||||||||||||
Intangible Assets, net | 370,897 | 407,184 | 398,284 | — | ||||||||||||
Total identifiable assets | 2,624,161 | 2,468,605 | 2,459,724 | — | ||||||||||||
Capital expenditures | 8,215 | 12,229 | 1,512 | 1,543 | ||||||||||||
Medical Transportation Services | ||||||||||||||||
Net revenue | $ | 1,369,525 | $ | 1,384,973 | $ | 860,808 | $ | 579,731 | ||||||||
Income from operations | 56,986 | 57,641 | 24,400 | 24,770 | ||||||||||||
Segment Adjusted EBITDA | 151,745 | 143,994 | 73,415 | 52,896 | ||||||||||||
Goodwill | 860,788 | 857,708 | 530,705 | — | ||||||||||||
Intangible Assets, net | 142,801 | 157,034 | 165,943 | — | ||||||||||||
Total identifiable assets | 1,515,162 | 1,544,908 | 1,318,772 | — | ||||||||||||
Capital expenditures | 51,449 | 42,688 | 42,711 | 15,946 | ||||||||||||
Segment Totals | ||||||||||||||||
Net revenue | $ | 3,728,312 | $ | 3,300,121 | $ | 1,885,811 | $ | 1,221,790 | ||||||||
Income from operations | 276,828 | 256,941 | 127,932 | 85,480 | ||||||||||||
Segment Adjusted EBITDA | 445,778 | 404,651 | 214,789 | 130,582 | ||||||||||||
Goodwill | 2,435,670 | 2,413,632 | 2,153,014 | — | ||||||||||||
Intangible Assets, net | 513,698 | 564,218 | 564,227 | — | ||||||||||||
Total identifiable assets | 4,139,323 | 4,013,513 | 3,778,496 | — | ||||||||||||
Capital expenditures | 59,664 | 54,917 | 44,223 | 17,489 | ||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
May 25 | January 1 | |||||||||||||||
through | through | |||||||||||||||
December 31, | May 24, | |||||||||||||||
Year ended | Year ended | 2011 | 2011 | |||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
(in thousands) | ||||||||||||||||
Reconciliation of Adjusted EBITDA to Net Income | ||||||||||||||||
Adjusted EBITDA—Holding | $ | 445,705 | $ | 404,452 | $ | 214,789 | $ | 130,582 | ||||||||
Other operating income (expenses) | 73 | 199 | — | — | ||||||||||||
| | | | | | | | | | | | | | | | |
Segment Adjusted EBITDA / Adjusted EBITDA—Corporation | 445,778 | 404,651 | 214,789 | 130,582 | ||||||||||||
Depreciation and amortization expense | (140,632 | ) | (123,751 | ) | (71,312 | ) | (28,467 | ) | ||||||||
Restructuring charges | (5,669 | ) | (14,086 | ) | (6,483 | ) | — | |||||||||
Interest income from restricted assets | (792 | ) | (625 | ) | (1,950 | ) | (1,124 | ) | ||||||||
Equity-based compensation expense | (4,248 | ) | (4,248 | ) | (4,098 | ) | (15,112 | ) | ||||||||
Related party management fees | (23,109 | ) | (5,000 | ) | (3,014 | ) | (399 | ) | ||||||||
Net income attributable to noncontrolling interest | 5,500 | — | — | — | ||||||||||||
| | | | | | | | | | | | | | | | |
Income from operations | 276,828 | 256,941 | 127,932 | 85,480 | ||||||||||||
Interest income from restricted assets | 792 | 625 | 1,950 | 1,124 | ||||||||||||
Interest expense | (156,134 | ) | (171,145 | ) | (104,701 | ) | (7,886 | ) | ||||||||
Realized gains (losses) on investments | 471 | 394 | 41 | (9 | ) | |||||||||||
Interest and other (expense) income | (12,760 | ) | 1,422 | (3,151 | ) | (28,873 | ) | |||||||||
Loss on early debt extinguishment | (38,860 | ) | (8,307 | ) | — | (10,069 | ) | |||||||||
Income tax expense | (21,718 | ) | (31,850 | ) | (9,328 | ) | (19,242 | ) | ||||||||
Equity in earnings of unconsolidated subsidiary | 323 | 379 | 276 | 143 | ||||||||||||
| | | | | | | | | | | | | | | | |
Net income—Corporation | $ | 48,942 | $ | 48,459 | $ | 13,019 | $ | 20,668 | ||||||||
Adjustments for Holding: | ||||||||||||||||
Other operating income (expenses) | (73 | ) | (199 | ) | — | — | ||||||||||
Loss on early debt extinguishment | (29,519 | ) | — | — | — | |||||||||||
Interest expense | (30,567 | ) | (11,462 | ) | — | — | ||||||||||
Income tax benefit | 22,712 | 4,387 | — | — | ||||||||||||
| | | | | | | | | | | | | | | | |
Net income—Holding. | $ | 11,495 | $ | 41,185 | $ | 13,019 | $ | 20,668 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
A reconciliation of Adjusted EBITDA to cash flows provided by operating activities is as follows (in thousands): | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | May 25 | January 1 | ||||||||||||||
December 31, | through | through | ||||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Adjusted EBITDA—Holding | $ | 445,705 | $ | 404,452 | $ | 214,789 | $ | 130,582 | ||||||||
Other operating income (expenses) | 73 | 199 | — | — | ||||||||||||
| | | | | | | | | | | | | | | | |
Adjusted EBITDA—Corporation | 445,778 | 404,651 | 214,789 | 130,582 | ||||||||||||
Related party management fees | (23,109 | ) | (5,000 | ) | (3,014 | ) | (399 | ) | ||||||||
Restructuring charges | (5,669 | ) | (14,086 | ) | (6,483 | ) | — | |||||||||
Interest expense (less deferred loan fee amortization) | (140,996 | ) | (154,794 | ) | (94,470 | ) | (6,556 | ) | ||||||||
Payment of dissenting shareholder settlement | (13,717 | ) | — | — | — | |||||||||||
Change in accounts receivable | (175,699 | ) | (82,126 | ) | (4,730 | ) | (10,149 | ) | ||||||||
Change in other operating assets/liabilities | 6,224 | 66,377 | 25,146 | 14,234 | ||||||||||||
Excess tax benefits from equity-based compensation | (62 | ) | (873 | ) | — | (12,427 | ) | |||||||||
Interest and other (expense) income | (12,760 | ) | 1,422 | (3,151 | ) | (28,873 | ) | |||||||||
Income tax benefit (expense), net of change in deferred taxes | 1,050 | 82 | (13,459 | ) | (18,897 | ) | ||||||||||
Net income attributable to noncontrolling interest | 5,500 | |||||||||||||||
Other | 1,000 | 595 | 193 | 460 | ||||||||||||
| | | | | | | | | | | | | | | | |
Cash flows provided by operating activities—Corporation | $ | 87,540 | $ | 216,248 | $ | 114,821 | $ | 67,975 | ||||||||
Adjustments for Holding: | ||||||||||||||||
Other operating income (expenses) | (73 | ) | (199 | ) | — | — | ||||||||||
Interest expense (less deferred loan fee amortization) | (27,750 | ) | (10,407 | ) | — | — | ||||||||||
Change in accounts receivable | (269 | ) | 269 | — | — | |||||||||||
Change in other operating assets/liabilities | (7,693 | ) | 6,137 | — | — | |||||||||||
Income tax benefit, net of change in deferred taxes | 2,360 | 4,387 | — | — | ||||||||||||
| | | | | | | | | | | | | | | | |
Cash flows provided by operating activities—Holding | $ | 54,115 | $ | 216,435 | $ | 114,821 | $ | 67,975 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
A reconciliation of segment assets to total assets and segment capital expenditures to total capital expenditures is as follows as of December 31 (in thousands): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Segment total identifiable assets | $ | 4,139,323 | $ | 4,013,513 | ||||||||||||
Corporate cash | 52,070 | (4,391 | ) | |||||||||||||
Other corporate assets | 27,397 | 20,218 | ||||||||||||||
| | | | | | | | |||||||||
Total identifiable assets—Corporation | $ | 4,218,790 | $ | 4,029,340 | ||||||||||||
Adjustments for Holding: | ||||||||||||||||
Corporate cash | 81,722 | 281 | ||||||||||||||
Other corporate assets | (495 | ) | 7,212 | |||||||||||||
| | | | | | | | |||||||||
Total identifiable assets—Holding | $ | 4,300,017 | $ | 4,036,833 | ||||||||||||
| | | | | | | | |||||||||
| | | | | | | | |||||||||
Other corporate assets principally consist of property, plant and equipment, and other assets. | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
(in thousands) | ||||||||||||||||
Segment total capital expenditures | $ | 59,664 | $ | 54,917 | $ | 44,223 | $ | 17,489 | ||||||||
Corporate capital expenditures | 6,215 | 5,298 | 2,128 | 1,007 | ||||||||||||
| | | | | | | | | | | | | | | | |
Total capital expenditures | $ | 65,879 | $ | 60,215 | $ | 46,351 | $ | 18,496 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Collective Bargaining Agreements | ||||||||||||||||
Approximately 44% of AMR's employees are represented by 37 collective bargaining agreements. There are 25 operational locations representing approximately 4,795 employees currently in the process of negotiations or will be subject to negotiation in 2014. In addition, six collective bargaining agreements, representing 600 employees will be subject to negotiations in 2015. While the Company believes it maintains a good working relationship with its employees, the Company has experienced some union work actions. The Company does not expect these actions to have a material adverse effect on its ability to provide service to its patients and communities. | ||||||||||||||||
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Valuation and Qualifying Accounts | ' | ||||||||||
Valuation and Qualifying Accounts | ' | ||||||||||
22. Valuation and Qualifying Accounts | |||||||||||
Allowance for | Allowance for | Total Accounts | |||||||||
Contractual | Uncompensated | Receivable | |||||||||
Discounts | Care | Allowances | |||||||||
(in thousands) | |||||||||||
Balance at January 1, 2011 | $ | 1,092,188 | $ | 629,419 | $ | 1,721,607 | |||||
Additions | 6,117,634 | 2,091,750 | 8,209,384 | ||||||||
Reductions | (5,955,370 | ) | (2,065,750 | ) | (8,021,120 | ) | |||||
| | | | | | | | | | | |
Balance at December 31, 2011 | 1,254,452 | 655,419 | 1,909,871 | ||||||||
Additions | 7,169,942 | 2,534,511 | 9,704,453 | ||||||||
Reductions | (6,804,906 | ) | (2,348,176 | ) | (9,153,082 | ) | |||||
| | | | | | | | | | | |
Balance at December 31, 2012 | 1,619,488 | 841,754 | 2,461,242 | ||||||||
Additions | 8,607,966 | 3,043,210 | 11,651,176 | ||||||||
Reductions | (8,224,750 | ) | (2,846,131 | ) | (11,070,881 | ) | |||||
| | | | | | | | | | | |
Balance at December 31, 2013 | $ | 2,002,704 | $ | 1,038,833 | $ | 3,041,537 | |||||
| | | | | | | | | | | |
| | | | | | | | | | | |
Additions to the Company's valuation and qualifying accounts are primarily related to income statement provisions and balances added from acquisitions. Reductions to these accounts are primarily related to write-off activity. | |||||||||||
Guarantors_of_Debt
Guarantors of Debt | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Guarantors of Debt | ' | ||||||||||||||||
Guarantors of Debt | ' | ||||||||||||||||
23. Guarantors of Debt | |||||||||||||||||
Corporation is the issuer of the senior unsecured notes and the borrower under the Senior Credit Facilities. The senior unsecured notes and the Senior Credit Facilities are guaranteed by each of Corporation's domestic subsidiaries, except for any subsidiaries subject to regulation as an insurance company, including Corporation's captive insurance subsidiary. All of the operating income and cash flow of Corporation is generated by AMR, EmCare and their subsidiaries. As a result, funds necessary to meet the debt service obligations under the senior unsecured notes and the Credit Facilities are provided by the distributions or advances from the subsidiary companies, AMR and EmCare. Investments in subsidiary operating companies are accounted for on the equity method. Accordingly, entries necessary to consolidate Corporation and all of its subsidiaries are reflected in the Eliminations/Adjustments column. Separate complete financial statements of Corporation and subsidiary guarantors would not provide additional material information that would be useful in assessing the financial composition of Corporation or the subsidiary guarantors. | |||||||||||||||||
Corporation's payment obligations under the senior unsecured notes are jointly and severally guaranteed on a senior unsecured basis by the guarantors. Each of the guarantors is wholly owned, directly or indirectly, by Corporation, and all guarantees are full and unconditional. A guarantor will be released from its obligations under its guarantee under certain customary circumstances, including, (i) the sale or disposition of the guarantor, (ii) the release of the guarantor from all of its obligations under all guarantees related to any indebtedness of the Corporation, (iii) the merger or consolidation of the guarantor as specified in the indenture governing the senior unsecured notes, (iv) the guarantor becomes an unrestricted subsidiary, (v) the defeasance of Corporation's obligations under the indenture governing the senior unsecured notes or (vi) the payment in full of the principal amount of the senior unsecured notes. | |||||||||||||||||
The condensed consolidating financial statements for Corporation, the guarantors and the non-guarantors are as follows: | |||||||||||||||||
Consolidating Balance Sheet | |||||||||||||||||
As of December 31, 2013 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non- | Adjustments | |||||||||||||||
Guarantor | |||||||||||||||||
Assets | |||||||||||||||||
Current assets: | |||||||||||||||||
Cash and cash equivalents | $ | — | $ | 65,516 | $ | 67,224 | $ | (9,750 | ) | $ | 122,990 | ||||||
Insurance collateral | — | 11,960 | 53,587 | (35,928 | ) | 29,619 | |||||||||||
Trade and other accounts receivable, net | — | 799,021 | 3,561 | (1,436 | ) | 801,146 | |||||||||||
Parts and supplies inventory | — | 23,367 | 9 | — | 23,376 | ||||||||||||
Prepaids and other current assets | — | 23,692 | 233 | — | 23,925 | ||||||||||||
Current deferred tax assets | — | — | 3,515 | (3,515 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total current assets | — | 923,556 | 128,129 | (50,629 | ) | 1,001,056 | |||||||||||
Non-current assets: | |||||||||||||||||
Property, plant, and equipment, net | — | 194,715 | — | — | 194,715 | ||||||||||||
Intercompany receivable | 1,914,158 | — | 2,370 | (1,916,528 | ) | — | |||||||||||
Intangible assets, net | — | 513,698 | — | — | 513,698 | ||||||||||||
Non-current deferred tax assets | — | — | 3,125 | (3,125 | ) | — | |||||||||||
Insurance collateral | — | 82,766 | 12,716 | (82,766 | ) | 12,716 | |||||||||||
Goodwill | — | 2,438,526 | 125 | (2,981 | ) | 2,435,670 | |||||||||||
Other long-term assets | 51,803 | — | 1,845 | 7,287 | 60,935 | ||||||||||||
Investment and advances in subsidiaries | 1,450,081 | 4,199 | 4,617 | (1,458,897 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total assets | $ | 3,416,042 | $ | 4,157,460 | $ | 152,927 | $ | (3,507,639 | ) | $ | 4,218,790 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Liabilities and Equity | |||||||||||||||||
Current liabilities: | |||||||||||||||||
Accounts payable | $ | — | $ | 52,354 | $ | 118 | $ | — | $ | 52,472 | |||||||
Accrued liabilities | 13,683 | 352,816 | 14,940 | (23,460 | ) | 357,979 | |||||||||||
Current deferred tax liabilities | — | 39,002 | — | 16,797 | 55,799 | ||||||||||||
Current portion of long-term debt | 11,872 | 446 | — | — | 12,318 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Total current liabilities | 25,555 | 444,618 | 15,058 | (6,663 | ) | 478,568 | |||||||||||
Long-term debt | 1,904,358 | 773 | — | (9,750 | ) | 1,895,381 | |||||||||||
Long-term deferred tax liabilities | — | 156,378 | — | (5,120 | ) | 151,258 | |||||||||||
Insurance reserves | — | 157,055 | 133,670 | (115,298 | ) | 175,427 | |||||||||||
Other long-term liabilities | — | 16,997 | — | — | 16,997 | ||||||||||||
Intercompany payable | — | 1,916,528 | — | (1,916,528 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total liabilities | 1,929,913 | 2,692,349 | 148,728 | (2,053,359 | ) | 2,717,631 | |||||||||||
| | | | | | | | | | | | | | | | | |
Equity: | |||||||||||||||||
Common stock | — | — | 30 | (30 | ) | — | |||||||||||
Treasury stock | (1,347 | ) | — | — | — | (1,347 | ) | ||||||||||
Additional paid-in capital | 1,404,208 | 1,366,151 | — | (1,366,151 | ) | 1,404,208 | |||||||||||
Retained earnings | 84,107 | 85,524 | 3,414 | (88,938 | ) | 84,107 | |||||||||||
Accumulated other comprehensive loss | (839 | ) | (1,594 | ) | 755 | 839 | (839 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Total Envision Healthcare Corporation equity | 1,486,129 | 1,450,081 | 4,199 | (1,454,280 | ) | 1,486,129 | |||||||||||
Noncontrolling interest | — | 15,030 | — | — | 15,030 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Total equity | 1,486,129 | 1,465,111 | 4,199 | (1,454,280 | ) | 1,501,159 | |||||||||||
| | | | | | | | | | | | | | | | | |
Total liabilities and equity | $ | 3,416,042 | $ | 4,157,460 | $ | 152,927 | $ | (3,507,639 | ) | $ | 4,218,790 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Consolidating Balance Sheet | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non- | Adjustments | |||||||||||||||
Guarantor | |||||||||||||||||
Assets | |||||||||||||||||
Current assets: | |||||||||||||||||
Cash and cash equivalents | $ | — | $ | 6,924 | $ | 65,627 | $ | (15,000 | ) | $ | 57,551 | ||||||
Insurance collateral | — | 6,626 | 35,975 | (18,120 | ) | 24,481 | |||||||||||
Trade and other accounts receivable, net | — | 623,651 | 3,738 | (1,976 | ) | 625,413 | |||||||||||
Parts and supplies inventory | — | 22,041 | 9 | — | 22,050 | ||||||||||||
Prepaids and other current assets | — | 23,679 | 297 | (462 | ) | 23,514 | |||||||||||
Current deferred tax assets | — | — | 3,447 | (3,447 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total current assets | — | 682,921 | 109,093 | (39,005 | ) | 753,009 | |||||||||||
Non-current assets: | |||||||||||||||||
Property, plant, and equipment, net | — | 191,864 | — | — | 191,864 | ||||||||||||
Intercompany receivable | 2,237,508 | — | 11,596 | (2,249,104 | ) | — | |||||||||||
Intangible assets, net | — | 564,218 | — | — | 564,218 | ||||||||||||
Non-current deferred tax assets | — | — | 1,097 | (1,097 | ) | — | |||||||||||
Insurance collateral | — | 65,762 | 5,491 | (50,493 | ) | 20,760 | |||||||||||
Goodwill | — | 2,416,613 | — | (2,981 | ) | 2,413,632 | |||||||||||
Other long-term assets | 84,538 | — | 1,580 | (261 | ) | 85,857 | |||||||||||
Investment and advances in subsidiaries | 930,119 | 3,001 | — | (933,120 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total assets | $ | 3,252,165 | $ | 3,924,379 | $ | 128,857 | $ | (3,276,061 | ) | $ | 4,029,340 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Liabilities and Equity | |||||||||||||||||
Current liabilities: | |||||||||||||||||
Accounts payable | $ | — | $ | 53,505 | $ | 287 | — | $ | 53,792 | ||||||||
Accrued liabilities | 47,184 | 328,153 | 15,782 | (3,689 | ) | 387,430 | |||||||||||
Current deferred tax liabilities | — | 27,015 | — | (3,447 | ) | 23,568 | |||||||||||
Current portion of long-term debt | 11,871 | 411 | — | — | 12,282 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Total current liabilities | 59,055 | 409,084 | 16,069 | (7,136 | ) | 477,072 | |||||||||||
Long-term debt | 2,223,738 | 1,185 | — | (15,000 | ) | 2,209,923 | |||||||||||
Long-term deferred tax liabilities | — | 159,942 | — | (3,092 | ) | 156,850 | |||||||||||
Insurance reserves | — | 148,195 | 109,787 | (68,609 | ) | 189,373 | |||||||||||
Other long-term liabilities | — | 20,220 | — | — | 20,220 | ||||||||||||
Intercompany payable | — | 2,249,104 | — | (2,249,104 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total liabilities | 2,282,793 | 2,987,730 | 125,856 | (2,342,941 | ) | 3,053,438 | |||||||||||
| | | | | | | | | | | | | | | | | |
Equity: | |||||||||||||||||
Common stock | — | — | 30 | (30 | ) | — | |||||||||||
Treasury stock at cost | (381 | ) | (381 | ) | |||||||||||||
Additional paid-in capital | 908,488 | 871,306 | — | (871,306 | ) | 908,488 | |||||||||||
Retained earnings | 61,478 | 59,206 | 2,272 | (61,478 | ) | 61,478 | |||||||||||
Accumulated other comprehensive loss | (213 | ) | (393 | ) | 699 | (306 | ) | (213 | ) | ||||||||
| | | | | | | | | | | | | | | | | |
Total Envision Healthcare Corporation equity | 969,372 | 930,119 | 3,001 | (933,120 | ) | 969,372 | |||||||||||
Noncontrolling interest | — | 6,530 | — | — | 6,530 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Total equity | 969,372 | 936,649 | 3,001 | (933,120 | ) | 975,902 | |||||||||||
| | | | | | | | | | | | | | | | | |
Total liabilities and equity | $ | 3,252,165 | $ | 3,924,379 | $ | 128,857 | $ | (3,276,061 | ) | $ | 4,029,340 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Consolidating Statements of Operations | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non-Guarantor | Adjustments | |||||||||||||||
Net revenue | $ | — | $ | 3,726,378 | $ | 57,494 | $ | (55,560 | ) | $ | 3,728,312 | ||||||
| | | | | | | | | | | | | | | | | |
Compensation and benefits | — | 2,666,761 | 678 | — | 2,667,439 | ||||||||||||
Operating expenses | — | 424,768 | 27 | — | 424,795 | ||||||||||||
Insurance expense | — | 106,261 | 55,592 | (55,560 | ) | 106,293 | |||||||||||
Selling, general and administrative expenses | — | 106,573 | 83 | — | 106,656 | ||||||||||||
Depreciation and amortization expense | — | 140,613 | 19 | — | 140,632 | ||||||||||||
Restructuring charges | — | 5,669 | — | — | 5,669 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Income from operations | — | 275,733 | 1,095 | — | 276,828 | ||||||||||||
Interest (loss) income from restricted assets | — | (6,526 | ) | 7,318 | — | 792 | |||||||||||
Interest expense | — | (156,134 | ) | — | — | (156,134 | ) | ||||||||||
Realized (loss) gain on investments | — | (122 | ) | 593 | — | 471 | |||||||||||
Interest and other expense | — | (12,582 | ) | (178 | ) | — | (12,760 | ) | |||||||||
Loss on early debt extinguishment | — | (38,860 | ) | — | — | (38,860 | ) | ||||||||||
| | | | | | | | | | | | | | | | | |
Income before taxes, equity in earnings of unconsolidated subsidiary and noncontrolling interest | — | 61,509 | 8,828 | — | 70,337 | ||||||||||||
Income tax expense | — | (21,696 | ) | (22 | ) | — | (21,718 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Income before equity in earnings of unconsolidated subsidiary | — | 39,813 | 8,806 | — | 48,619 | ||||||||||||
Equity in earnings of unconsolidated subsidiary | 43,442 | — | 323 | (43,442 | ) | 323 | |||||||||||
| | | | | | | | | | | | | | | | | |
Net income | 43,442 | 39,813 | 9,129 | (43,442 | ) | 48,942 | |||||||||||
Less: Net income attributable to noncontrolling interest | — | (5,500 | ) | — | — | (5,500 | ) | ||||||||||
| | | | | | | | | | | | | | | | | |
Net income attributable to Envision Healthcare Corporation | $ | 43,442 | $ | 34,313 | $ | 9,129 | $ | (43,442 | ) | $ | 43,442 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Consolidating Statements of Operations | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non-Guarantor | Adjustments | |||||||||||||||
Net revenue | $ | — | $ | 3,298,221 | $ | 75,501 | $ | (73,601 | ) | $ | 3,300,121 | ||||||
| | | | | | | | | | | | | | | | | |
Compensation and benefits | — | 2,306,975 | 653 | — | 2,307,628 | ||||||||||||
Operating expenses | — | 421,406 | 18 | — | 421,424 | ||||||||||||
Insurance expense | — | 91,288 | 80,263 | (73,601 | ) | 97,950 | |||||||||||
Selling, general and administrative expenses | — | 78,305 | 36 | — | 78,341 | ||||||||||||
Depreciation and amortization expense | — | 123,732 | 19 | — | 123,751 | ||||||||||||
Restructuring charges | — | 14,086 | — | — | 14,086 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Income from operations | — | 262,429 | (5,488 | ) | — | 256,941 | |||||||||||
Interest income from restricted assets | — | (4,290 | ) | 4,915 | — | 625 | |||||||||||
Interest expense | — | (171,145 | ) | — | — | (171,145 | ) | ||||||||||
Realized gains (losses) on investments | — | (1,302 | ) | 1,696 | — | 394 | |||||||||||
Interest and other income (expense) | — | 1,580 | (158 | ) | — | 1,422 | |||||||||||
Loss on early debt extinguishment | — | (8,307 | ) | — | — | (8,307 | ) | ||||||||||
| | | | | | | | | | | | | | | | | |
Income before taxes and equity in earnings of unconsolidated subsidiary | — | 78,965 | 965 | — | 79,930 | ||||||||||||
Income tax expense | — | (31,832 | ) | (18 | ) | — | (31,850 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Income before equity in earnings of unconsolidated subsidiary | — | 47,133 | 947 | — | 48,080 | ||||||||||||
Equity in earnings of unconsolidated subsidiary | 48,459 | — | 379 | (48,459 | ) | 379 | |||||||||||
| | | | | | | | | | | | | | | | | |
Net income | $ | 48,459 | $ | 47,133 | $ | 1,326 | $ | (48,459 | ) | $ | 48,459 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Consolidating Statements of Operations | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the period from May 25 through December 31, 2011 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non- | Adjustments | |||||||||||||||
Guarantors | |||||||||||||||||
Net revenue | $ | — | $ | 1,884,615 | $ | 56,182 | $ | (54,986 | ) | $ | 1,885,811 | ||||||
| | | | | | | | | | | | | | | | | |
Compensation and benefits | — | 1,310,584 | 476 | — | 1,311,060 | ||||||||||||
Operating expenses | — | 259,620 | 19 | — | 259,639 | ||||||||||||
Insurance expense | — | 63,738 | 56,278 | (54,986 | ) | 65,030 | |||||||||||
Selling, general and administrative expenses | — | 44,060 | 295 | — | 44,355 | ||||||||||||
Depreciation and amortization expense | — | 71,285 | 27 | — | 71,312 | ||||||||||||
Restructuring charges | — | 6,483 | — | — | 6,483 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Income (loss) from operations | — | 128,845 | (913 | ) | — | 127,932 | |||||||||||
Interest income from restricted assets | — | 934 | 1,016 | — | 1,950 | ||||||||||||
Interest expense | — | (104,701 | ) | — | — | (104,701 | ) | ||||||||||
Realized gains (losses) on investments | — | — | 41 | — | 41 | ||||||||||||
Interest and other (expense) income | — | (2,832 | ) | (319 | ) | — | (3,151 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | — | 22,246 | (175 | ) | — | 22,071 | |||||||||||
Income tax expense | — | (9,324 | ) | (4 | ) | — | (9,328 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Income (loss) before equity in earnings of unconsolidated subsidiaries | — | 12,922 | (179 | ) | — | 12,743 | |||||||||||
Equity in earnings of unconsolidated subsidiaries | 11,977 | — | 276 | (11,977 | ) | 276 | |||||||||||
| | | | | | | | | | | | | | | | | |
Net income | $ | 11,977 | $ | 12,922 | $ | 97 | $ | (11,977 | ) | $ | 13,019 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Predecessor | |||||||||||||||||
For the period from January 1 through May 24, 2011 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non- | Adjustments | |||||||||||||||
Guarantors | |||||||||||||||||
Net revenue | $ | — | $ | 1,221,024 | $ | 20,709 | $ | (19,943 | ) | $ | 1,221,790 | ||||||
| | | | | | | | | | | | | | | | | |
Compensation and benefits | — | 874,135 | 498 | — | 874,633 | ||||||||||||
Operating expenses | — | 156,734 | 6 | — | 156,740 | ||||||||||||
Insurance expense | — | 48,471 | 18,701 | (19,943 | ) | 47,229 | |||||||||||
Selling, general and administrative expenses | — | 28,801 | 440 | — | 29,241 | ||||||||||||
Depreciation and amortization expense | — | 28,467 | — | — | 28,467 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Income from operations | — | 84,416 | 1,064 | — | 85,480 | ||||||||||||
Interest income from restricted assets | — | 364 | 760 | — | 1,124 | ||||||||||||
Interest expense | — | (7,886 | ) | — | — | (7,886 | ) | ||||||||||
Realized loss on investments | — | — | (9 | ) | — | (9 | ) | ||||||||||
Interest and other (expense) income | — | (28,782 | ) | (91 | ) | — | (28,873 | ) | |||||||||
Loss on early debt extinguishment | — | (10,069 | ) | — | — | (10,069 | ) | ||||||||||
| | | | | | | | | | | | | | | | | |
Income before income taxes | — | 38,043 | 1,724 | — | 39,767 | ||||||||||||
Income tax expense | — | (19,233 | ) | (9 | ) | — | (19,242 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Income before equity in earnings of unconsolidated subsidiaries | — | 18,810 | 1,715 | — | 20,525 | ||||||||||||
Equity in earnings of unconsolidated subsidiaries | 20,668 | — | 143 | (20,668 | ) | 143 | |||||||||||
| | | | | | | | | | | | | | | | | |
Net income | $ | 20,668 | $ | 18,810 | $ | 1,858 | $ | (20,668 | ) | $ | 20,668 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Total | ||||||||||||||
Guarantors | Non-guarantors | ||||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | 120,135 | $ | (32,595 | ) | $ | 87,540 | ||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Investing Activities | |||||||||||||||||
Purchase of property, plant and equipment | — | (65,879 | ) | — | (65,879 | ) | |||||||||||
Proceeds from sale of property, plant and equipment | — | 744 | — | 744 | |||||||||||||
Acquisition of businesses, net of cash received | — | (35,098 | ) | — | (35,098 | ) | |||||||||||
Net change in insurance collateral | — | (39,678 | ) | 43,383 | 3,705 | ||||||||||||
Other investing activities | — | (2,069 | ) | — | (2,069 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Net cash (used in) provided by investing activities | — | (141,980 | ) | 43,383 | (98,597 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Financing Activities | |||||||||||||||||
Issuance of class A common stock | 1,117 | — | — | 1,117 | |||||||||||||
Borrowings under the Term Loan | 150,000 | — | — | 150,000 | |||||||||||||
Borrowings under the ABL Facility | 345,440 | — | — | 345,440 | |||||||||||||
Capital contributions | 489,326 | — | — | 489,326 | |||||||||||||
Repayments of the Term Loan | (13,371 | ) | — | — | (13,371 | ) | |||||||||||
Repayments of the ABL Facility | (470,440 | ) | — | — | (470,440 | ) | |||||||||||
Repayments of senior notes | (327,250 | ) | — | — | (327,250 | ) | |||||||||||
Payment for debt extinguishment premiums | (27,016 | ) | — | — | (27,016 | ) | |||||||||||
Dividend paid | (20,813 | ) | — | — | (20,813 | ) | |||||||||||
Debt issue costs | (5,007 | ) | — | — | (5,007 | ) | |||||||||||
Excess tax benefits from stock-based compensation | — | 62 | — | 62 | |||||||||||||
Proceeds from non-controlling interest | — | 3,000 | — | 3,000 | |||||||||||||
Payment of dissenting shareholder settlement | — | (38,336 | ) | — | (38,336 | ) | |||||||||||
Net change in bank overdrafts | — | (10,146 | ) | — | (10,146 | ) | |||||||||||
Net intercompany borrowings (payments) | (121,986 | ) | 125,926 | (3,940 | ) | — | |||||||||||
Other financing activities | — | (70 | ) | — | (70 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Net cash provided by (used in) financing activities | — | 80,436 | (3,940 | ) | 76,496 | ||||||||||||
| | | | | | | | | | | | | | ||||
Change in cash and cash equivalents | — | 58,591 | 6,848 | 65,439 | |||||||||||||
Cash and cash equivalents, beginning of period | — | 6,925 | 50,626 | 57,551 | |||||||||||||
| | | | | | | | | | | | | | ||||
Cash and cash equivalents, end of period | $ | — | $ | 65,516 | $ | 57,474 | $ | 122,990 | |||||||||
| | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | ||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Total | ||||||||||||||
Guarantors | Non-guarantors | ||||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 187,911 | $ | 28,337 | $ | 216,248 | |||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Investing Activities | |||||||||||||||||
Purchase of property, plant and equipment | — | (60,215 | ) | — | (60,215 | ) | |||||||||||
Proceeds from sale of property, plant and equipment | — | 7,220 | — | 7,220 | |||||||||||||
Acquisition of businesses, net of cash received | — | (193,002 | ) | — | (193,002 | ) | |||||||||||
Net change in insurance collateral | — | 42,307 | 49,633 | 91,940 | |||||||||||||
Other investing activities | — | 14 | — | 14 | |||||||||||||
| | | | | | | | | | | | | | ||||
Net cash (used in) provided by investing activities | — | (203,676 | ) | 49,633 | (154,043 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Financing Activities | |||||||||||||||||
Issuance of class A common stock | 334 | — | — | 334 | |||||||||||||
Borrowings under senior secured credit facility | 130,000 | — | — | 130,000 | |||||||||||||
Repayments of the Term Loan | (262,884 | ) | — | — | (262,884 | ) | |||||||||||
Repayments of the ABL Facility | (5,000 | ) | — | — | (5,000 | ) | |||||||||||
Repayments of the senior notes | (15,000 | ) | — | — | (15,000 | ) | |||||||||||
Debt issue costs | (95 | ) | — | — | (95 | ) | |||||||||||
Excess tax benefits from stock-based compensation | — | 873 | — | 873 | |||||||||||||
Class A common stock repurchased as treasury stock | (511 | ) | — | — | (511 | ) | |||||||||||
Proceeds from noncontrolling interest | — | 6,530 | — | 6,530 | |||||||||||||
Net change in bank overdrafts | — | 7,808 | — | 7,808 | |||||||||||||
Net intercompany borrowings (payments) | 153,888 | (97,178 | ) | (56,710 | ) | — | |||||||||||
Other financing activities | (732 | ) | — | — | (732 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Net cash used in financing activities | — | (81,967 | ) | (56,710 | ) | (138,677 | ) | ||||||||||
| | | | | | | | | | | | | | ||||
Change in cash and cash equivalents | — | (97,732 | ) | 21,260 | (76,472 | ) | |||||||||||
Cash and cash equivalents, beginning of period | — | 104,657 | 29,366 | 134,023 | |||||||||||||
| | | | | | | | | | | | | | ||||
Cash and cash equivalents, end of period | $ | — | $ | 6,925 | $ | 50,626 | $ | 57,551 | |||||||||
| | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | ||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the period May 25 through December 31, 2011 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Total | ||||||||||||||
Guarantors | Non-guarantors | ||||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | 235,411 | $ | (120,590 | ) | $ | 114,821 | ||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Investing Activities | |||||||||||||||||
Merger, net of cash received | (2,844,221 | ) | — | — | (2,844,221 | ) | |||||||||||
Purchase of property, plant and equipment | — | (46,351 | ) | — | (46,351 | ) | |||||||||||
Proceeds from sale of property, plant and equipment | — | 216 | — | 216 | |||||||||||||
Acquisition of businesses, net of cash received | — | (84,375 | ) | — | (84,375 | ) | |||||||||||
Net change in insurance collateral | — | 2,580 | 7,347 | 9,927 | |||||||||||||
Other investing activities | — | (1,172 | ) | — | (1,172 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Net cash (used in) provided by investing activities | (2,844,221 | ) | (129,102 | ) | 7,347 | (2,965,976 | ) | ||||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Financing Activities | |||||||||||||||||
Borrowings under senior secured credit facility | 1,440,000 | — | — | 1,440,000 | |||||||||||||
Proceeds from issuance of senior notes | 950,000 | — | — | 950,000 | |||||||||||||
Proceeds from CD&R equity investment | 887,051 | — | — | 887,051 | |||||||||||||
Capital contributed by Parent | 4,978 | — | — | 4,978 | |||||||||||||
Repayments of the Term Loan | (425,175 | ) | — | — | (425,175 | ) | |||||||||||
Equity issuance costs | (31,878 | ) | — | — | (31,878 | ) | |||||||||||
Debt issue costs | (117,805 | ) | — | — | (117,805 | ) | |||||||||||
Net change in bank overdrafts | — | (6,944 | ) | — | (6,944 | ) | |||||||||||
Net intercompany borrowings (payments) | 138,647 | (251,988 | ) | 113,341 | — | ||||||||||||
Other financing activities | (1,597 | ) | — | — | (1,597 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Net cash provided by (used in) financing activities | 2,844,221 | (258,932 | ) | 113,341 | 2,698,630 | ||||||||||||
| | | | | | | | | | | | | | ||||
Change in cash and cash equivalents | — | (152,623 | ) | 98 | (152,525 | ) | |||||||||||
Cash and cash equivalents, beginning of period | — | 257,280 | 29,268 | 286,548 | |||||||||||||
| | | | | | | | | | | | | | ||||
Cash and cash equivalents, end of period | $ | — | $ | 104,657 | $ | 29,366 | $ | 134,023 | |||||||||
| | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | ||||
Predecessor | |||||||||||||||||
For the period from | |||||||||||||||||
January 1 through May 24, 2011 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Total | ||||||||||||||
Guarantors | Non-guarantors | ||||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | 73,707 | $ | (5,732 | ) | $ | 67,975 | ||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Investing Activities | |||||||||||||||||
Purchase of property, plant and equipment | — | (18,496 | ) | — | (18,496 | ) | |||||||||||
Proceeds from sale of property, plant and equipment | — | 55 | — | 55 | |||||||||||||
Acquisition of businesses, net of cash received | — | (94,870 | ) | — | (94,870 | ) | |||||||||||
Net change in insurance collateral | — | 14,510 | 8,526 | 23,036 | |||||||||||||
Other investing activities | — | 816 | — | 816 | |||||||||||||
| | | | | | | | | | | | | | ||||
Net cash (used in) provided by investing activities | — | (97,985 | ) | 8,526 | (89,459 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Financing Activities | |||||||||||||||||
Issuance of class A common stock | 559 | — | — | 559 | |||||||||||||
Repayments of the Term Loan | — | (5,312 | ) | — | (5,312 | ) | |||||||||||
Excess tax benefits from stock-based compensation | — | 12,427 | — | 12,427 | |||||||||||||
Class A common stock repurchased as treasury stock | (2,440 | ) | — | — | (2,440 | ) | |||||||||||
Net change in bank overdrafts | — | 14,241 | — | 14,241 | |||||||||||||
Net intercompany borrowings (payments) | 1,881 | (1,828 | ) | (53 | ) | — | |||||||||||
Other financing activities | — | 1,196 | — | 1,196 | |||||||||||||
| | | | | | | | | | | | | | ||||
Net cash provided by (used in) financing activities | — | 20,724 | (53 | ) | 20,671 | ||||||||||||
| | | | | | | | | | | | | | ||||
Change in cash and cash equivalents | — | (3,554 | ) | 2,741 | (813 | ) | |||||||||||
Cash and cash equivalents, beginning of period | — | 260,834 | 26,527 | 287,361 | |||||||||||||
| | | | | | | | | | | | | | ||||
Cash and cash equivalents, end of period | $ | — | $ | 257,280 | $ | 29,268 | $ | 286,548 | |||||||||
| | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | ||||
Quarterly_Financial_Informatio
Quarterly Financial Information (unaudited) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Quarterly Financial Information (unaudited) | ' | |||||||||||||
Quarterly Financial Information (unaudited) | ' | |||||||||||||
24. Quarterly Financial Information (unaudited) | ||||||||||||||
The following tables summarize unaudited results for each quarter in the years ended December 31, 2013 and 2012 (in thousands, except per share amounts). | ||||||||||||||
2013 | ||||||||||||||
For the quarter ended | ||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||
Holding: | ||||||||||||||
Net revenue | $ | 888,324 | $ | 899,255 | $ | 955,888 | $ | 984,845 | ||||||
Income from operations | 62,862 | 65,703 | 63,503 | 84,687 | ||||||||||
Net income (loss) | (3,847 | ) | 9,597 | (7,663 | ) | 13,408 | ||||||||
Net income (loss) attributable to Envision Healthcare Holdings, Inc. | (3,847 | ) | 9,597 | (7,663 | ) | 7,908 | ||||||||
Earnings (loss) per share attributable to Envision Healthcare Holdings, Inc.: | ||||||||||||||
Basic | (0.03 | ) | 0.07 | (0.05 | ) | 0.04 | ||||||||
Diluted | (0.03 | ) | 0.07 | (0.05 | ) | 0.04 | ||||||||
Corporation: | ||||||||||||||
Net revenue | $ | 888,324 | $ | 899,255 | $ | 955,888 | $ | 984,845 | ||||||
Income from operations | 62,929 | 65,724 | 63,488 | 84,687 | ||||||||||
Net income | 3,116 | 16,563 | 14,717 | 14,546 | ||||||||||
Net income attributable to Envision Healthcare Corporation | 3,116 | 16,563 | 14,717 | 9,046 | ||||||||||
2012 | ||||||||||||||
For the quarter ended | ||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||
Holding: | ||||||||||||||
Net revenue | $ | 806,294 | $ | 801,098 | $ | 820,811 | $ | 871,918 | ||||||
Income from operations | 52,496 | 60,256 | 68,624 | 75,366 | ||||||||||
Net income | 5,792 | 7,841 | 15,209 | 12,343 | ||||||||||
Net income attributable to Envision Healthcare Holdings, Inc. | 5,792 | 7,841 | 15,209 | 12,343 | ||||||||||
Earnings per share attributable to Envision Healthcare Holdings, Inc.: | ||||||||||||||
Basic | 0.04 | 0.06 | 0.12 | 0.09 | ||||||||||
Diluted | 0.04 | 0.06 | 0.11 | 0.09 | ||||||||||
Corporation: | ||||||||||||||
Net revenue | $ | 806,294 | $ | 801,098 | $ | 820,811 | $ | 871,918 | ||||||
Income from operations | 52,496 | 60,256 | 68,624 | 75,565 | ||||||||||
Net income | 5,792 | 7,841 | 15,209 | 19,617 | ||||||||||
Net income attributable to Envision Healthcare Corporation | 5,792 | 7,841 | 15,209 | 19,617 |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events | ' |
Subsequent Events | ' |
25. Subsequent Events | |
On February 5, 2014, Holding registered the offering and sale of 27,500,000 shares of Common Stock and an additional 4,125,000 shares of Common Stock, which were sold by CD&R Affiliates to the underwriters pursuant to their option to purchase additional shares at $30.50 per share less the underwriting discount. The CD&R Affiliates, certain executive officers and directors of Holding and certain non-executives were the selling stockholders in the offering. Holding did not receive any of the proceeds from the sale of the shares being sold by the selling stockholders, including any shares sold pursuant to any exercise of the underwriters' option to purchase additional shares. Upon completion of this offering, Holding had 181,131,273 shares of Common Stock outstanding. | |
On February 6, 2014, Corporation acquired Life Line Ambulance Service, Inc., an emergency medical transportation service provider with operations in Arizona, for total purchase consideration of approximately $22.2 million. | |
Schedule_1_Registrants_Condens
Schedule 1 - Registrant's Condensed Financial Statements | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Schedule 1 - Registrant's Condensed Financial Statements | ' | |||||||
Schedule 1 - Registrant's Condensed Financial Statements | ' | |||||||
Schedule 1—Registrant's Condensed Financial Statements | ||||||||
Envision Healthcare Holdings, Inc. | ||||||||
Parent Company Only | ||||||||
Condensed Balance Sheets | ||||||||
(in thousands, except share and per share amounts) | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 81,722 | $ | 281 | ||||
Prepaids and other current assets | 26,860 | — | ||||||
| | | | | | | | |
Total current assets | 108,582 | 281 | ||||||
| | | | | | | | |
Non-current assets: | ||||||||
Investment in wholly owned subsidiary | 1,486,129 | 969,372 | ||||||
Long-term deferred tax asset | 128 | 89 | ||||||
Other long-term assets | — | 7,243 | ||||||
| | | | | | | | |
Total assets | $ | 1,594,839 | $ | 976,985 | ||||
| | | | | | | | |
| | | | | | | | |
Liabilities and Equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 116 | $ | 117 | ||||
Accrued liabilities | — | 1,536 | ||||||
| | | | | | | | |
Total current liabilities | 116 | 1,653 | ||||||
Long-term debt | — | 437,175 | ||||||
| | | | | | | | |
Total liabilities | 116 | 438,828 | ||||||
| | | | | | | | |
Equity: | ||||||||
Common stock ($0.01 par value; 2,000,000,000 shares authorized, 180,382,885 and 130,661,627 issued and outstanding at December 31, 2013 and 2012, respectively) | 1,804 | 1,307 | ||||||
Preferred stock ($0.01 par value; 200,000,000 shares authorized, none issued and outstanding at December 31, 2013 and 2012) | — | — | ||||||
Treasury stock at cost | (1,347 | ) | (381 | ) | ||||
Additional paid-in capital | 1,576,764 | 525,098 | ||||||
Retained earnings | 18,341 | 12,346 | ||||||
Accumulated other comprehensive loss | (839 | ) | (213 | ) | ||||
| | | | | | | | |
Total stockholders' equity | 1,594,723 | 538,157 | ||||||
| | | | | | | | |
Total liabilities and stockholders' equity | $ | 1,594,839 | $ | 976,985 | ||||
| | | | | | | | |
| | | | | | | | |
Envision Healthcare Holdings, Inc. | ||||||||
Parent Company Only | ||||||||
Condensed Statements of Operations and Comprehensive Income | ||||||||
(in thousands) | ||||||||
Year ended | Year ended | |||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
Equity in net income of subsidiary | $ | 48,942 | $ | 48,459 | ||||
Operating expenses | 70 | — | ||||||
Selling, general and administrative expenses | 3 | 199 | ||||||
Interest expense | 30,567 | 11,462 | ||||||
Loss on early debt extinguishment | 29,519 | — | ||||||
| | | | | | | | |
(Loss) Income before income taxes | (11,217 | ) | 36,798 | |||||
Income tax benefit | 22,712 | 4,387 | ||||||
| | | | | | | | |
Net income | 11,495 | 41,185 | ||||||
Other comprehensive income, net of tax: | (626 | ) | 2,489 | |||||
| | | | | | | | |
Comprehensive income | $ | 10,869 | $ | 43,674 | ||||
| | | | | | | | |
| | | | | | | | |
Envision Healthcare Holdings, Inc. | ||||||||
Parent Company Only | ||||||||
Condensed Statements of Cash Flows | ||||||||
(in thousands) | ||||||||
Year ended | Year ended | |||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
Cash Flows from Operating Activities | ||||||||
Net income | $ | 11,495 | $ | 41,185 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Equity in net income of subsidiary | (48,942 | ) | (48,459 | ) | ||||
Depreciation and amortization | 2,817 | 1,056 | ||||||
Loss on early debt extinguishment | 29,519 | — | ||||||
Deferred income taxes | (25,184 | ) | 4,841 | |||||
Changes in operating assets/liabilities | (3,130 | ) | 1,564 | |||||
| | | | | | | | |
Net cash (used in) provided by operating activities | (33,425 | ) | 187 | |||||
| | | | | | | | |
Cash Flows from Investing Activities | ||||||||
Net cash used in investing activities | — | — | ||||||
| | | | | | | | |
Cash Flows from Financing Activities | ||||||||
Issuance of class A common stock | 1,110,900 | — | ||||||
Proceeds from issuance of PIK Notes | — | 450,000 | ||||||
Repayments of PIK Notes | (450,000 | ) | — | |||||
Payments of debt extinguishment premium | (12,386 | ) | — | |||||
Distribution to Corporation | (489,326 | ) | — | |||||
Dividend received | 20,813 | — | ||||||
Dividend paid | — | (428,782 | ) | |||||
Equity issuance costs | (65,131 | ) | — | |||||
Debt issue costs | (4 | ) | (21,124 | ) | ||||
| | | | | | | | |
Net cash provided by financing activities | 114,866 | 94 | ||||||
| | | | | | | | |
Change in cash and cash equivalents | 81,441 | 281 | ||||||
Cash and cash equivalents, beginning of period | 281 | — | ||||||
| | | | | | | | |
Cash and cash equivalents, end of period | $ | 81,722 | $ | 281 | ||||
| | | | | | | | |
| | | | | | | | |
Notes to Condensed Parent Company Only Financial Statements | ||||||||
1. Description of Envision Healthcare Holdings, Inc. | ||||||||
Envision Healthcare Holdings, Inc. ("Holding", the "Company" or the "Parent") was incorporated in Delaware on February 28, 2011 in connection with the merger of CDRT Merger Sub, Inc., a wholly-owned subsidiary of Envision Healthcare Intermediate Corporation, a wholly-owned subsidiary of Holding, with and into Envision Healthcare Corporation ("Corporation"). The Parent has no significant operations or assets other than its indirect ownership of the equity of Corporation. Accordingly, the Parent is dependent upon distributions from Corporation to fund its obligations. However, under the terms of Corporation's credit agreements governing Corporation's ABL Facility and Term Loan and the Indenture governing Corporation's 2019 Notes, Corporation's ability to pay dividends or lend to the Parent is restricted, except that Corporation may pay specified amounts to Parent to fund the payment of the Company's tax obligations. Corporation has no obligation to pay dividends to Holding. | ||||||||
2. Basis of Presentation | ||||||||
The accompanying condensed financial statements (parent company only) include the accounts of Parent and its investment in Corporation, which is stated at cost plus equity in undistributed earnings of Corporation since the date of acquisition, and do not present the financial statements of the parent and its subsidiary on a consolidated basis. These parent company only financial statements should be read in conjunction with the Envision Healthcare Holdings, Inc. consolidated financial statements. | ||||||||
3. Debt | ||||||||
On October 1, 2012, Holding issued $450 million of Senior PIK Toggle Notes, or the PIK Notes, due 2017 and used the proceeds from the offering to pay an extraordinary dividend to its stockholders, pay debt issuance costs and make certain payments to members of management with rollover options in Holding. Cash interest accrues on these notes at a rate of 9.25% payable semi-annually on April 1 and October 1 commencing on April 1, 2013. PIK interest accrues on these notes at a rate of 10.0%. The Holding PIK Notes are Holding's senior unsecured indebtedness and are not guaranteed by any of its subsidiaries. | ||||||||
On August 30, 2013, Holding redeemed all of the PIK Notes at a redemption price equal to 102.75% of the aggregate principal amount of the PIK Notes, plus accrued and unpaid interest of $17.2 million. During the year ended December 31, 2013, Holding recorded a loss on early debt extinguishment of $29.5 million related to premiums and unamortized debt issuance costs from the redemption of the PIK Notes. | ||||||||
4. Equity | ||||||||
On August 13, 2013, Holding's Registration Statement was declared effective by the SEC for an initial public offering of its Common Stock. Holding registered the offering and sale of 42,000,000 shares of Common Stock and an additional 6,300,000 shares of Common Stock, which were sold to the underwriters pursuant to their option to purchase additional shares at a price of $23 per share. On August 19, 2013, Holding completed the offering of 48,300,000 shares of Common Stock, at a price of $23 per share, for an aggregate offering price of $1,110.9 million. At the closing, Holding received net proceeds of approximately $1,025.9 million, after deducting the underwriters' discounts and commissions paid and offering expenses of approximately $85.0 million, including a $20.0 million payment to CD&R in connection with the termination of a consulting agreement with Holding and Corporation ("Consulting Agreement") which was recorded to "Selling, general and administrative expenses" in the Company's Condensed Statements of Operations. | ||||||||
Net proceeds from the initial public offering were used to redeem in full Holding's Senior PIK Toggle Notes due 2017 ("PIK Notes") for a total of $479.6 million, which included a call premium pursuant to the indenture governing the PIK Notes and all accrued but unpaid interest. The remaining proceeds will be used for general corporate purposes. | ||||||||
Common Stock | ||||||||
Holders of Common Stock are entitled: | ||||||||
• | ||||||||
To cast one vote for each share held of record on all matters submitted to a vote of the stockholders; | ||||||||
• | ||||||||
To receive, on a pro rata basis, dividends and distributions, if any, that the Board of Directors may declare out of legally available funds, subject to preferences that may be applicable to preferred stock, if any, then outstanding; and | ||||||||
• | ||||||||
Upon Holding's liquidation, dissolution or winding up, to share equally and ratably in any assets remaining after the payment of all debt and other liabilities, subject to the prior rights, if any, of holders of any outstanding shares of preferred stock. | ||||||||
Holding's ability to pay dividends on its Common Stock is subject to its subsidiaries' ability to pay dividends to Holding, which is in turn subject to the restrictions set forth in the Senior Secured Credit Facilities and the indenture governing the 2019 Notes. | ||||||||
Preferred Stock | ||||||||
Under Holding's amended and restated certificate of incorporation, Holding's Board of Directors has the authority, without further action by its stockholders, to issue up to 200,000,000 shares of preferred stock in one or more series and to fix the voting powers, designations, preferences and the relative participating, optional or other special rights and qualifications, limitations and restrictions of each series, including dividend rights, dividend rates, conversion rights, voting rights, terms of redemption, liquidation preferences and the number of shares constituting any series. | ||||||||
5. Subsequent Events | ||||||||
On February 5, 2014, Holding registered the offering and sale of 27,500,000 shares of Common Stock and an additional 4,125,000 shares of Common Stock, which were sold by CD&R Affiliates to the underwriters pursuant to their option to purchase additional shares at $30.50 per share less the underwriting discount. The CD&R Affiliates, certain executive officers and directors of Holding and certain non-executives were the selling stockholders in the offering. Holding did not receive any of the proceeds from the sale of the shares being sold by the selling stockholders, including any shares sold pursuant to any exercise of the underwriters' option to purchase additional shares. Upon completion of this offering, Holding had 181,131,273 shares of Common Stock outstanding. | ||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||||||||||||||||
Consolidation | ' | |||||||||||||||||||||||||
Consolidation | ||||||||||||||||||||||||||
The consolidated financial statements of Holding include all of its wholly-owned subsidiaries, including Corporation and its respective subsidiaries and affiliated physician groups. The consolidated financial statements of Corporation, include all of its wholly-owned subsidiaries, including EmCare and AMR and their respective subsidiaries, and affiliated physician groups. All significant intercompany transactions and balances have been eliminated in consolidation. | ||||||||||||||||||||||||||
Use of Estimates | ' | |||||||||||||||||||||||||
Use of Estimates | ||||||||||||||||||||||||||
The preparation of financial statements requires management to make estimates and assumptions relating to the reporting of results of operations, financial condition and related disclosure of contingent assets and liabilities at the date of the financial statements including, but not limited to, estimates and assumptions for accounts receivable and insurance related reserves. Actual results may differ from those estimates under different assumptions or conditions. | ||||||||||||||||||||||||||
Cash and Cash Equivalents | ' | |||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||||
Cash and cash equivalents are comprised of highly liquid investments with a maturity of three months or less at acquisition, and are recorded at market value. | ||||||||||||||||||||||||||
At December 31, 2013 and 2012, bank overdrafts of $5.0 million and $15.1 million, respectively, were included in accounts payable in the accompanying balance sheets. | ||||||||||||||||||||||||||
Insurance Collateral | ' | |||||||||||||||||||||||||
Insurance Collateral | ||||||||||||||||||||||||||
Insurance collateral is principally comprised of government and investment grade securities and cash deposits with third parties and supports the Company's insurance program and reserves. Certain of these investments, if sold or otherwise liquidated, would have to be replaced by other suitable financial assurances and are, therefore, considered restricted. | ||||||||||||||||||||||||||
Trade and Other Accounts Receivable, net | ' | |||||||||||||||||||||||||
Trade and Other Accounts Receivable, net | ||||||||||||||||||||||||||
The Company estimates its allowances based on payor reimbursement schedules, historical collections and write-off experience and other economic data. Patient-related accounts receivable are recorded net of estimated allowances for contractual discounts and uncompensated care in the period in which services are performed. Account balances are charged off against the uncompensated care allowance, which relates principally to receivables recorded for self-pay patients, when it is probable the receivable will not be recovered. Write-offs to the contractual allowance occur when payment is received. As a result of the estimates used in recording the allowances, the nature of healthcare collections, which may involve lengthy delays, and the current uncertainty in the economy, there is a reasonable possibility that recorded estimates will change materially in the short-term. | ||||||||||||||||||||||||||
The following table presents accounts receivable, net and accounts receivable allowances by segment (in thousands): | ||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Accounts receivable, net | ||||||||||||||||||||||||||
Corporation | $ | 1,011 | $ | 897 | ||||||||||||||||||||||
EmCare | 558,195 | 375,572 | ||||||||||||||||||||||||
AMR | 241,940 | 248,944 | ||||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total—Corporation | $ | 801,146 | $ | 625,413 | ||||||||||||||||||||||
Holding—adjustment for Holding | — | (269 | ) | |||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total—Holding | $ | 801,146 | $ | 625,144 | ||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Accounts receivable allowances | ||||||||||||||||||||||||||
EmCare | ||||||||||||||||||||||||||
Allowance for contractual discounts | $ | 1,807,090 | $ | 1,406,574 | ||||||||||||||||||||||
Allowance for uncompensated care | 868,590 | 657,297 | ||||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total | $ | 2,675,680 | $ | 2,063,871 | ||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
| | | | | | | | |||||||||||||||||||
AMR | ||||||||||||||||||||||||||
Allowance for contractual discounts | $ | 195,614 | $ | 212,914 | ||||||||||||||||||||||
Allowance for uncompensated care | 170,243 | 184,457 | ||||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total | $ | 365,857 | $ | 397,371 | ||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
| | | | | | | | |||||||||||||||||||
The changes in the allowances for contractual discounts and uncompensated care are primarily a result of changes in the Company's gross fee-for-service rate schedules and gross accounts receivable balances. These gross fee schedules, including any changes to existing fee schedules, generally are negotiated with various contracting entities, including municipalities and facilities. Fee schedule increases are billed for all revenue sources and to all payors under that specific contract; however, reimbursement in the case of certain state, federal, and commercial payors, including Medicare and Medicaid, will not change as a result of the change in gross fee schedules. In certain cases, this results in a higher level of contractual and uncompensated care provisions and allowances, requiring a higher percentage of contractual discount and uncompensated care provisions compared to gross charges. | ||||||||||||||||||||||||||
Parts and Supplies Inventory | ' | |||||||||||||||||||||||||
Parts and Supplies Inventory | ||||||||||||||||||||||||||
Parts and supplies inventory is valued at cost, determined on a first-in, first-out basis. Durable medical supplies, including oximeters and other miscellaneous items, are capitalized as inventory and expensed as used. | ||||||||||||||||||||||||||
Property, Plant and Equipment, net | ' | |||||||||||||||||||||||||
Property, Plant and Equipment, net | ||||||||||||||||||||||||||
Property, plant and equipment are reflected at their estimated fair value as of May 25, 2011 in connection with the acquisition of Corporation led by CD&R. Additions to property, plant and equipment subsequent to this date are recorded at cost. Maintenance and repairs that do not extend the useful life of the property are charged to expense as incurred. Gains and losses from dispositions of property, plant and equipment are recorded in the period incurred. Depreciation of property, plant and equipment is provided substantially on a straight-line basis over their estimated useful lives, which are as follows: | ||||||||||||||||||||||||||
Buildings | 35 to 40 years | |||||||||||||||||||||||||
Leasehold improvements | Shorter of expected life or life of lease | |||||||||||||||||||||||||
Vehicles | 5 to 7 years | |||||||||||||||||||||||||
Computer hardware and software | 3 to 5 years | |||||||||||||||||||||||||
Other | 3 to 10 years | |||||||||||||||||||||||||
Goodwill and Other Indefinite Lived Intangibles | ' | |||||||||||||||||||||||||
Goodwill and Other Indefinite Lived Intangibles | ||||||||||||||||||||||||||
Goodwill and other indefinite lived intangibles, including radio frequency licenses and trade names, are not amortized, but instead tested for impairment at least annually. The Company performs its annual impairment test in the third quarter for goodwill and other indefinite lived intangibles or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Such indicators include a sustained significant decline in the Company's market capitalization or a significant decline in its expected future cash flows due to changes in company-specific factors or the broader business climate. The evaluation of such factors requires considerable judgment. Any adverse change in these factors could have a significant impact on the recoverability of goodwill and have a material impact on the Company's consolidated financial statements. | ||||||||||||||||||||||||||
Goodwill and other indefinite lived intangible assets have been allocated to three reporting units. Two of the reporting units are aggregated into the EmCare operating segment and the other reporting unit is the AMR operating segment which the Company determined met the criteria to be classified as a reporting unit. At December 31, 2013, $1,574.9 million and $860.8 million of goodwill had been allocated to EmCare and AMR, respectively. | ||||||||||||||||||||||||||
The Company compares the fair value of its reporting units to the carrying amounts on an annual basis to determine if there is potential goodwill impairment. If the fair value of the reporting units is less than the carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than its carrying value. | ||||||||||||||||||||||||||
Fair value for each of the reporting units is determined using the estimated future cash flows, discounted at a rate commensurate with the risk involved or the market approach. No impairment indicators were noted in completing the Company's annual impairment assessments in 2013 and no indicators were noted which would indicate that subsequent interim impairment tests were necessary. No impairment charges were recorded as of December 31, 2013, 2012, or 2011. | ||||||||||||||||||||||||||
Impairment of Long-lived Assets and Other Definite Lived Intangibles | ' | |||||||||||||||||||||||||
Impairment of Long-lived Assets and Other Definite Lived Intangibles | ||||||||||||||||||||||||||
Long-lived assets and other definite lived intangibles are assessed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Important factors that could trigger impairment review include significant underperformance relative to historical or projected future operating results, significant changes in the use of the acquired assets or the strategy for the overall business, and significant negative industry or economic trends. If indicators of impairment are present, management evaluates the carrying value of long-lived assets and other definite lived intangibles in relation to the projection of future undiscounted cash flows of the underlying business. Projected cash flows are based on historical results adjusted to reflect management's best estimate of future market and operating conditions, which may differ from actual cash flows. There were no indicators of impairment in 2013, 2012, or 2011. | ||||||||||||||||||||||||||
Contract Value | ' | |||||||||||||||||||||||||
Contract Value | ||||||||||||||||||||||||||
The Company's contracts and customer relationships, recorded initially at their estimated fair value, represent the amortized value of such assets held by the Company. Consistent with management's expectation of estimated future cash flow, these assets are amortized on a straight-line basis over the average length of the contracts and expected contract renewal period, and range from 5 to 10 years depending on the type of contract and customer relationship. | ||||||||||||||||||||||||||
Claims Liability and Professional Liability Reserves | ' | |||||||||||||||||||||||||
Claims Liability and Professional Liability Reserves | ||||||||||||||||||||||||||
The Company is self-insured up to certain limits for costs associated with workers compensation claims, automobile claims, professional liability claims and general business liabilities. Reserves are established for estimates of the loss that will ultimately be incurred on claims that have been reported but not paid and claims that have been incurred but not reported. These reserves are established based on consultation with independent actuaries. The actuarial valuations consider a number of factors, including historical claim payment patterns and changes in case reserves, the assumed rate of increase in healthcare costs and property damage repairs. Historical experience and recent stable trends in the historical experience are the most significant factors in the determination of these reserves. Management believes the use of actuarial methods to account for these reserves provides a consistent and effective way to measure these subjective accruals. However, given the magnitude of the claims involved and the length of time until the ultimate cost is known, the use of any estimation technique in this area is inherently sensitive. Accordingly, recorded reserves could differ from ultimate costs related to these claims due to changes in accident reporting, claims payment and settlement practices or claims reserve practices, as well as differences between assumed and future cost increases. Accrued unpaid claims and expenses that are expected to be paid within the next twelve months are classified as current liabilities. All other accrued unpaid claims and expenses are classified as non-current liabilities. | ||||||||||||||||||||||||||
Derivatives and Hedging Activities | ' | |||||||||||||||||||||||||
Derivatives and Hedging Activities | ||||||||||||||||||||||||||
All derivative instruments are recorded on the balance sheet at fair value. The Company uses derivative instruments to manage risks associated with interest rate and fuel price volatility. All hedging instruments that qualify for hedge accounting are designated and effective as hedges, in accordance with GAAP. If the underlying hedged transaction ceases to exist, all changes in fair value of the related derivatives that have not been settled are recognized in current earnings. Instruments that do not qualify for hedge accounting and the ineffective portion of hedges are marked to market with changes recognized in current earnings. The Company does not hold or issue derivative financial instruments for trading purposes and is not a party to leveraged derivatives (see Note 11). | ||||||||||||||||||||||||||
EmCare Contractual Arrangements | ' | |||||||||||||||||||||||||
EmCare Contractual Arrangements | ||||||||||||||||||||||||||
EmCare structures its contractual arrangements for emergency department management services in various ways. In most states, a wholly-owned subsidiary of EmCare ("EmCare Subsidiary") contracts with hospitals to provide emergency department management services. The EmCare Subsidiary enters into an agreement with a professional association or professional corporation ("PA"), whereby the EmCare Subsidiary provides the PA with management services and the PA agrees to provide physician services for the hospital contract. The PA employs physicians directly or subcontracts with another entity for the physician services. In certain states, the PA contracts directly with the hospital, but provides physician services and obtains management services in the same manner as described above. In all arrangements, decisions regarding patient care are made exclusively by the physicians. In consideration for these services, the EmCare Subsidiary receives a monthly fee that may be adjusted from time to time to reflect industry practice, business conditions, and actual expenses for administrative costs and uncollectible accounts. In most states, these fees approximate the excess of the PA's revenues over its expenses. | ||||||||||||||||||||||||||
Each PA is wholly-owned by a physician who enters into a Stock Transfer and Option Agreement with EmCare. This agreement gives EmCare the right to replace the physician owner with another physician in accordance with the terms of the agreement. | ||||||||||||||||||||||||||
EmCare has determined that these management contracts meet the requirements for consolidation in accordance with GAAP. Accordingly, these financial statements include the accounts of EmCare and its subsidiaries and the PAs. The financial statements of the PAs are consolidated with EmCare and its subsidiaries because EmCare has ultimate control over the assets and business operations of the PAs as described above. Notwithstanding the lack of technical majority ownership, consolidation of the PAs is necessary to present fairly the financial position and results of operations of EmCare because of the existence of a control relationship by means other than record ownership of the PAs' voting stock. Control of a PA by EmCare is perpetual and other than temporary because EmCare may replace the physician owner of the PA at any time and thereby continue EmCare's relationship with the PA. | ||||||||||||||||||||||||||
Financial Instruments and Concentration of Credit Risk | ' | |||||||||||||||||||||||||
Financial Instruments and Concentration of Credit Risk | ||||||||||||||||||||||||||
The Company's cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, insurance collateral, long-term debt and long-term liabilities, other than self-insurance estimates, constitute financial instruments. Based on management's estimates, the carrying value of cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximates fair value as of December 31, 2013 and 2012. Concentration of credit risks in accounts receivable is limited, due to the large number of customers comprising the Company's customer base throughout the United States. A significant component of the Company's revenue is derived from Medicare and Medicaid. Given that these are government programs, the credit risk for these customers is considered low. The Company performs ongoing credit evaluations of its other customers, but does not require collateral to support customer accounts receivable. The Company establishes an allowance for uncompensated care based on the credit risk applicable to particular customers, historical trends and other relevant information. For the year ended December 31, 2013, the Company derived approximately 27% of its net revenue from Medicare and Medicaid, 69% from insurance providers and contracted payors, and 4% directly from patients. | ||||||||||||||||||||||||||
The Company estimates the fair value of its fixed rate, senior notes based on quoted market prices (Level 1). The estimated fair value of the senior notes at December 31, 2013 was approximately $657.1 million with a carrying value of $607.8 million. The Company's captive insurance subsidiary holds $9.8 million of the senior notes at December 31, 2013 which has been excluded from the carrying value state above. | ||||||||||||||||||||||||||
Revenue Recognition | ' | |||||||||||||||||||||||||
Revenue Recognition | ||||||||||||||||||||||||||
Fee-for-service revenue is recognized at the time of service and is recorded net of provisions for contractual discounts and estimated uncompensated care. Fee-for-service revenue represents billings for services provided to patients, for which the Company receives payment from the patient or their third-party payor. Provisions for contractual discounts are related to differences between gross charges and specific payor, including governmental, reimbursement schedules. Subsidy and fee revenue primarily represent hospital subsidies and fees at EmCare and fees for stand-by, special event and community subsidies at AMR. Provisions for estimated uncompensated care, or bad debts, are related principally to the number of self-pay patients treated in the period. Provisions for contractual discounts and estimated uncompensated care by segment, as a percentage of gross revenue and as a percentage of gross revenue less provision for contractual discounts are shown below. Predecessor and Successor periods are not disclosed because they are not materially different from the combined 2011 period presented. | ||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||
EmCare | ||||||||||||||||||||||||||
Gross revenue | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||
Provision for contractual discounts | 57.8 | % | 57.7 | % | 57.4 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Revenue net of contractual discounts | 42.2 | % | 42.3 | % | 42.6 | % | ||||||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue | 21.6 | % | 21.2 | % | 20 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 51.1 | % | 50.1 | % | 46.9 | % | ||||||||||||||||||||
AMR | ||||||||||||||||||||||||||
Gross revenue | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||
Provision for contractual discounts | 50.7 | % | 49.2 | % | 47.9 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Revenue net of contractual discounts | 49.3 | % | 50.8 | % | 52.1 | % | ||||||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue | 14.7 | % | 15.6 | % | 15.6 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 29.7 | % | 30.7 | % | 30 | % | ||||||||||||||||||||
Total | ||||||||||||||||||||||||||
Gross revenue | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||
Provision for contractual discounts | 56 | % | 55.1 | % | 54.1 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Revenue net of contractual discounts | 44 | % | 44.9 | % | 45.9 | % | ||||||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue | 19.8 | % | 19.5 | % | 18.5 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 44.9 | % | 43.4 | % | 40.2 | % | ||||||||||||||||||||
Net revenue for the years ended December 31, 2013 and 2012, the Successor period from May 25, 2011 through December 31, 2011, and the Predecessor period from January 1, 2011 through May 24, 2011 consisted of the following (in thousands): | ||||||||||||||||||||||||||
Successor | Predecessor | |||||||||||||||||||||||||
Period from | Period from | |||||||||||||||||||||||||
May 25 | January 1 | |||||||||||||||||||||||||
Year ended | Year ended | through | through | |||||||||||||||||||||||
December 31, | December 31, | December 31, | May 24, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||||||||||||
Fee-for-service revenue, net of contractuals: | ||||||||||||||||||||||||||
Medicare | $ | 942,068 | $ | 767,012 | $ | 427,627 | $ | 310,314 | ||||||||||||||||||
Medicaid | 206,223 | 186,568 | 113,345 | 88,220 | ||||||||||||||||||||||
Commercial insurance and managed care | 2,332,871 | 2,092,062 | 1,148,608 | 717,857 | ||||||||||||||||||||||
Self-pay | 2,660,924 | 2,221,356 | 1,093,723 | 721,099 | ||||||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Sub-total | 6,142,086 | 5,266,998 | 2,783,303 | 1,837,490 | ||||||||||||||||||||||
Subsidies and fees | 629,436 | 567,634 | 362,736 | 215,821 | ||||||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Revenue, net of contractuals | 6,771,522 | 5,834,632 | 3,146,039 | 2,053,311 | ||||||||||||||||||||||
Provision for uncompensated care | (3,043,210 | ) | (2,534,511 | ) | (1,260,228 | ) | (831,521 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Net revenue | $ | 3,728,312 | $ | 3,300,121 | $ | 1,885,811 | $ | 1,221,790 | ||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Healthcare reimbursement is complex and may involve lengthy delays. Third-party payors are continuing their efforts to control expenditures for healthcare, including proposals to revise reimbursement policies. The Company has from time to time experienced delays in reimbursement from third-party payors. In addition, third-party payors may disallow, in whole or in part, claims for payment based on determinations that certain amounts are not reimbursable under plan coverage, determinations of medical necessity, or the need for additional information. Laws and regulations governing the Medicare and Medicaid programs are very complex and subject to interpretation. Revenue is recognized on an estimated basis in the period which related services are rendered. As a result, there is a reasonable possibility that recorded estimates will change materially in the short-term. Such amounts, including adjustments between provisions for contractual discounts and uncompensated care, are adjusted in future periods as adjustments become known. These adjustments in the aggregate increased the contractual discount and uncompensated care provisions (decreased net revenue) by approximately $1 million for the year ended December 31, 2013 and decreased the contractual discount and uncompensated care provisions (increased net revenue) by approximately $10 million for the year ended December 31, 2012 and $15 million for the Predecessor and Successor periods ended December 31, 2011. | ||||||||||||||||||||||||||
Subsidies and fees in connection with community contracts at AMR are recognized ratably over the service period the payment covers. | ||||||||||||||||||||||||||
The Company also provides services to patients who have no insurance or other third-party payor coverage. In certain circumstances, federal law requires providers to render services to any patient who requires care regardless of their ability to pay. | ||||||||||||||||||||||||||
Income Taxes | ' | |||||||||||||||||||||||||
Income Taxes | ||||||||||||||||||||||||||
Deferred income taxes reflect the impact of temporary differences between the reported amounts of assets and liabilities for financial reporting purposes and such amounts as measured by tax laws and regulations. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. A valuation allowance is provided for deferred tax assets when management concludes it is more likely than not that some portion of the deferred tax assets will not be recognized. The respective tax authorities, in the normal course, audit previous tax filings. It is not possible at this time to predict the final outcome of these audits or establish a reasonable estimate of possible additional taxes owing, if any. | ||||||||||||||||||||||||||
Equity Based Compensation | ' | |||||||||||||||||||||||||
Equity Based Compensation | ||||||||||||||||||||||||||
The Company recognizes all share-based payments to employees based on its grant-date fair values and its estimates of forfeitures. The Company recognizes the fair value of outstanding options as a charge to operations over the vesting period. The cash benefits of tax deductions in excess of deferred taxes on recognized compensation expense are reported as a financing cash flow. The Company uses the straight-line method to recognize equity based compensation expense for its outstanding stock awards. Equity based compensation has been issued under the plans described in Note 16. | ||||||||||||||||||||||||||
Fair Value Measurement | ' | |||||||||||||||||||||||||
Fair Value Measurement | ||||||||||||||||||||||||||
The Company classifies its financial instruments that are reported at fair value based on a hierarchal framework which ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is impacted by a number of factors, including the type of instrument and the characteristics specific to the instrument. Instruments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. | ||||||||||||||||||||||||||
Financial instruments measured and reported at fair value are classified and disclosed in one of the following categories: | ||||||||||||||||||||||||||
Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. The Company does not adjust the quoted price for these assets or liabilities, which include investments held in connection with the Company's captive insurance program. | ||||||||||||||||||||||||||
Level 2—Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Balances in this category include fixed income mortgage backed securities, corporate bonds, and derivatives. | ||||||||||||||||||||||||||
Level 3—Pricing inputs are unobservable as of the reporting date and reflect the Company's own assumptions about the fair value of the asset or liability. Balances in this category include the Company's estimate, using a combination of internal and external fair value analyses, of contingent consideration for acquisitions described in Note 5. | ||||||||||||||||||||||||||
The following table summarizes the valuation of the Company's financial instruments by the above fair value hierarchy levels as of December 31 (in thousands): | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||||
Securities (insurance collateral) | $ | 12,710 | $ | 517 | — | $ | 13,227 | $ | 22,870 | $ | 788 | — | $ | 23,658 | ||||||||||||
Fuel hedge | — | $ | 672 | — | $ | 672 | — | $ | 631 | — | $ | 631 | ||||||||||||||
Liabilities: | ||||||||||||||||||||||||||
Contingent consideration | — | — | $ | 7,734 | $ | 7,734 | — | — | $ | 4,401 | $ | 4,401 | ||||||||||||||
Interest rate swap | — | $ | 3,135 | — | $ | 3,135 | — | $ | 4,586 | — | $ | 4,586 | ||||||||||||||
The contingent consideration balance classified as a level 3 liability has increased by $3.3 million since December 31, 2012 due to new acquisitions. | ||||||||||||||||||||||||||
During the year ended December 31, 2013, the Company had no transfers in and out of Level 1 and Level 2 fair value measurements. | ||||||||||||||||||||||||||
Recent Accounting Pronouncements | ' | |||||||||||||||||||||||||
Recent Accounting Pronouncements | ||||||||||||||||||||||||||
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("ASU 2013-11") to provide explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 requires an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except if such a deferred tax asset is unavailable at the reporting date. If a deferred tax asset is unavailable at the reporting date, then the unrecognized tax benefit should be presented in the financial statements as a liability and not combined with deferred tax assets. ASU 2013-11 is effective for fiscal years, and interim periods within those years, beginning after December 31, 2013. The Company does not expect the adoption of ASU 2013-11 to have a material impact on its financial position or results of operations. | ||||||||||||||||||||||||||
In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income ("ASU 2013-02") to improve the reporting of reclassifications out of accumulated other comprehensive income ("AOCI"). | ||||||||||||||||||||||||||
ASU 2013-02 requires the following: | ||||||||||||||||||||||||||
• | ||||||||||||||||||||||||||
present separately for each component of other comprehensive income, current period reclassifications out of AOCI and other amounts of current-period other comprehensive income; and | ||||||||||||||||||||||||||
• | ||||||||||||||||||||||||||
separately provide information about the effects on net income of significant amounts reclassified out of each component of AOCI if those amounts all are required to be reclassified to net income in their entirety in the same reporting period. | ||||||||||||||||||||||||||
The Company adopted this new guidance effective January 1, 2013 by adding disclosure in Note 12. | ||||||||||||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||||||||||||||||
Schedule of accounts receivable, net and accounts receivable allowances by segment | ' | |||||||||||||||||||||||||
The following table presents accounts receivable, net and accounts receivable allowances by segment (in thousands): | ||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Accounts receivable, net | ||||||||||||||||||||||||||
Corporation | $ | 1,011 | $ | 897 | ||||||||||||||||||||||
EmCare | 558,195 | 375,572 | ||||||||||||||||||||||||
AMR | 241,940 | 248,944 | ||||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total—Corporation | $ | 801,146 | $ | 625,413 | ||||||||||||||||||||||
Holding—adjustment for Holding | — | (269 | ) | |||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total—Holding | $ | 801,146 | $ | 625,144 | ||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Accounts receivable allowances | ||||||||||||||||||||||||||
EmCare | ||||||||||||||||||||||||||
Allowance for contractual discounts | $ | 1,807,090 | $ | 1,406,574 | ||||||||||||||||||||||
Allowance for uncompensated care | 868,590 | 657,297 | ||||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total | $ | 2,675,680 | $ | 2,063,871 | ||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
| | | | | | | | |||||||||||||||||||
AMR | ||||||||||||||||||||||||||
Allowance for contractual discounts | $ | 195,614 | $ | 212,914 | ||||||||||||||||||||||
Allowance for uncompensated care | 170,243 | 184,457 | ||||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Total | $ | 365,857 | $ | 397,371 | ||||||||||||||||||||||
| | | | | | | | |||||||||||||||||||
| | | | | | | | |||||||||||||||||||
Schedule of estimated useful lives of property, plant and equipment | ' | |||||||||||||||||||||||||
Buildings | 35 to 40 years | |||||||||||||||||||||||||
Leasehold improvements | Shorter of expected life or life of lease | |||||||||||||||||||||||||
Vehicles | 5 to 7 years | |||||||||||||||||||||||||
Computer hardware and software | 3 to 5 years | |||||||||||||||||||||||||
Other | 3 to 10 years | |||||||||||||||||||||||||
Schedule of provisions for contractual discounts and estimated uncompensated care by segment | ' | |||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||
EmCare | ||||||||||||||||||||||||||
Gross revenue | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||
Provision for contractual discounts | 57.8 | % | 57.7 | % | 57.4 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Revenue net of contractual discounts | 42.2 | % | 42.3 | % | 42.6 | % | ||||||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue | 21.6 | % | 21.2 | % | 20 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 51.1 | % | 50.1 | % | 46.9 | % | ||||||||||||||||||||
AMR | ||||||||||||||||||||||||||
Gross revenue | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||
Provision for contractual discounts | 50.7 | % | 49.2 | % | 47.9 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Revenue net of contractual discounts | 49.3 | % | 50.8 | % | 52.1 | % | ||||||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue | 14.7 | % | 15.6 | % | 15.6 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 29.7 | % | 30.7 | % | 30 | % | ||||||||||||||||||||
Total | ||||||||||||||||||||||||||
Gross revenue | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||
Provision for contractual discounts | 56 | % | 55.1 | % | 54.1 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Revenue net of contractual discounts | 44 | % | 44.9 | % | 45.9 | % | ||||||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue | 19.8 | % | 19.5 | % | 18.5 | % | ||||||||||||||||||||
| | | | | | | | | | | ||||||||||||||||
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 44.9 | % | 43.4 | % | 40.2 | % | ||||||||||||||||||||
Schedule of net revenue | ' | |||||||||||||||||||||||||
Net revenue for the years ended December 31, 2013 and 2012, the Successor period from May 25, 2011 through December 31, 2011, and the Predecessor period from January 1, 2011 through May 24, 2011 consisted of the following (in thousands): | ||||||||||||||||||||||||||
Successor | Predecessor | |||||||||||||||||||||||||
Period from | Period from | |||||||||||||||||||||||||
May 25 | January 1 | |||||||||||||||||||||||||
Year ended | Year ended | through | through | |||||||||||||||||||||||
December 31, | December 31, | December 31, | May 24, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||||||||||||
Fee-for-service revenue, net of contractuals: | ||||||||||||||||||||||||||
Medicare | $ | 942,068 | $ | 767,012 | $ | 427,627 | $ | 310,314 | ||||||||||||||||||
Medicaid | 206,223 | 186,568 | 113,345 | 88,220 | ||||||||||||||||||||||
Commercial insurance and managed care | 2,332,871 | 2,092,062 | 1,148,608 | 717,857 | ||||||||||||||||||||||
Self-pay | 2,660,924 | 2,221,356 | 1,093,723 | 721,099 | ||||||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Sub-total | 6,142,086 | 5,266,998 | 2,783,303 | 1,837,490 | ||||||||||||||||||||||
Subsidies and fees | 629,436 | 567,634 | 362,736 | 215,821 | ||||||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Revenue, net of contractuals | 6,771,522 | 5,834,632 | 3,146,039 | 2,053,311 | ||||||||||||||||||||||
Provision for uncompensated care | (3,043,210 | ) | (2,534,511 | ) | (1,260,228 | ) | (831,521 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Net revenue | $ | 3,728,312 | $ | 3,300,121 | $ | 1,885,811 | $ | 1,221,790 | ||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||
| | | | | | | | | | | | | | | | |||||||||||
Summary of the valuation of the Company's financial instruments by the fair value hierarchy levels | ' | |||||||||||||||||||||||||
The following table summarizes the valuation of the Company's financial instruments by the above fair value hierarchy levels as of December 31 (in thousands): | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||||
Securities (insurance collateral) | $ | 12,710 | $ | 517 | — | $ | 13,227 | $ | 22,870 | $ | 788 | — | $ | 23,658 | ||||||||||||
Fuel hedge | — | $ | 672 | — | $ | 672 | — | $ | 631 | — | $ | 631 | ||||||||||||||
Liabilities: | ||||||||||||||||||||||||||
Contingent consideration | — | — | $ | 7,734 | $ | 7,734 | — | — | $ | 4,401 | $ | 4,401 | ||||||||||||||
Interest rate swap | — | $ | 3,135 | — | $ | 3,135 | — | $ | 4,586 | — | $ | 4,586 |
Basic_and_Diluted_Net_Income_P1
Basic and Diluted Net Income Per Share (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Basic and Diluted Net Income Per Share | ' | |||||||||||||||
EPS amounts and the basic and diluted weighted-average shares outstanding used in the calculation | ' | |||||||||||||||
The following table presents EPS amounts for all periods and the basic and diluted weighted-average shares outstanding used in the calculation (in thousands, except per share amounts). | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
May 25 | January 1 | |||||||||||||||
Year ended | Year ended | through | through | |||||||||||||
December 31, | December 31, | December 31, | May 24, | |||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Net income attributable to Envision Healthcare Holdings, Inc. | $ | 5,995 | $ | 41,185 | $ | 13,019 | $ | 20,668 | ||||||||
Weighted-average common shares outstanding—common stock: | ||||||||||||||||
Basic | 150,156 | 130,229 | 129,469 | 411,757 | ||||||||||||
Dilutive impact of stock awards outstanding | 6,806 | 2,717 | 1,364 | 5,328 | ||||||||||||
| | | | | | | | | | | | | | | | |
Diluted | 156,962 | 132,946 | 130,833 | 417,085 | ||||||||||||
Earnings per share—common stock: | ||||||||||||||||
Basic net income per share attributable to Envision Healthcare Holdings, Inc. | $ | 0.04 | $ | 0.32 | $ | 0.1 | $ | 0.05 | ||||||||
Diluted net income per share attributable to Envision Healthcare Holdings, Inc. | $ | 0.04 | $ | 0.31 | $ | 0.1 | $ | 0.05 |
Statements_of_Cash_Flows_Data_
Statements of Cash Flows Data (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Statements of Cash Flows Data | ' | |||||||||||||||
Schedule of supplemental cash flow statement disclosure | ' | |||||||||||||||
The following presents supplemental cash flow statement disclosure (in thousands). | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Supplemental cash flow data—Holding | ||||||||||||||||
Cash paid for interest | $ | 198,098 | $ | 154,984 | $ | 83,922 | $ | 7,533 | ||||||||
Net cash paid (refunds received) for taxes | 13,351 | (20,463 | ) | 9,537 | 5,366 | |||||||||||
Supplemental cash flow data—Corporation | ||||||||||||||||
Cash paid for interest | $ | 157,125 | $ | 154,984 | $ | 83,922 | $ | 7,533 | ||||||||
Net cash paid (refunds received) for taxes | 13,351 | (20,463 | ) | 9,537 | 5,366 |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Acquisitions | ' | ||||
Schedule of fair value of assets and liabilities | ' | ||||
The final allocation of the purchase price is in the table below (in thousands): | |||||
Cash | $ | 428 | |||
Accounts receivable | 11,542 | ||||
Prepaid and other current assets | 379 | ||||
Property, plant and equipment | 1,792 | ||||
Acquired intangible assets | 59,810 | ||||
Goodwill | 111,256 | ||||
Other long-term assets | 50 | ||||
Accounts payable | (729 | ) | |||
Accrued liabilities | (5,204 | ) | |||
Current deferred tax liabilities | (15,108 | ) | |||
Federal tax liability | (5,216 | ) | |||
| | | | | |
Total purchase price | $ | 159,000 | |||
| | | | | |
| | | | | |
Property_Plant_and_Equipment_n1
Property, Plant and Equipment, net (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment, net. | ' | |||||||
Schedule of Property, plant and equipment, net | ' | |||||||
Property, plant and equipment, net consisted of the following at December 31 (in thousands): | ||||||||
2013 | 2012 | |||||||
Land | $ | 5,013 | $ | 5,013 | ||||
Building and leasehold improvements | 22,526 | 20,529 | ||||||
Vehicles | 146,700 | 117,376 | ||||||
Computer hardware and software | 67,754 | 57,920 | ||||||
Communication and medical equipment and other | 99,923 | 77,154 | ||||||
| | | | | | | | |
341,916 | 277,992 | |||||||
Less: accumulated depreciation and amortization | (147,201 | ) | (86,128 | ) | ||||
| | | | | | | | |
Property, plant and equipment, net | $ | 194,715 | $ | 191,864 | ||||
| | | | | | | | |
| | | | | | | | |
Intangible_Assets_net_Tables
Intangible Assets, net (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Intangible Assets, net | ' | |||||||||||||
Schedule of intangible assets, net | ' | |||||||||||||
Intangible assets, net consisted of the following at December 31 (in thousands): | ||||||||||||||
2013 | 2012 | |||||||||||||
Gross | Accumulated | Gross | Accumulated | |||||||||||
Carrying | Amortization | Carrying | Amortization | |||||||||||
Amount | Amount | |||||||||||||
Amortized intangible assets | ||||||||||||||
Contract value | $ | 590,880 | $ | (173,975 | ) | $ | 575,700 | $ | (105,672 | ) | ||||
Physician referral network | 58,650 | (7,515 | ) | 51,070 | (196 | ) | ||||||||
Covenant not to compete | 5,101 | (2,324 | ) | 3,419 | (1,244 | ) | ||||||||
| | | | | | | | | | | | | | |
654,631 | (183,814 | ) | 630,189 | (107,112 | ) | |||||||||
Unamortized intangible assets | ||||||||||||||
Trade names | 33,740 | — | 32,000 | — | ||||||||||
Radio frequencies | 901 | — | 901 | — | ||||||||||
License | 8,240 | — | 8,240 | — | ||||||||||
| | | | | | | | | | | | | | |
Total | $ | 697,512 | $ | (183,814 | ) | $ | 671,330 | $ | (107,112 | ) | ||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Schedule of estimated annual amortization over each of the next five years | ' | |||||||||||||
2014 | $ | 77,251 | ||||||||||||
2015 | 77,027 | |||||||||||||
2016 | 70,119 | |||||||||||||
2017 | 65,317 | |||||||||||||
2018 | 58,514 | |||||||||||||
Schedule of changes in the carrying amount of goodwill | ' | |||||||||||||
Changes in the carrying amount of goodwill during 2013 are set forth as below (in thousands): | ||||||||||||||
December 31, | 2013 | Adjustments | December 31, | |||||||||||
2012 | Acquisitions | 2013 | ||||||||||||
EmCare | $ | 1,555,924 | $ | 9,018 | $ | 9,940 | $ | 1,574,882 | ||||||
AMR | 857,708 | 17,157 | (14,077 | ) | 860,788 | |||||||||
| | | | | | | | | | | | | | |
Total | $ | 2,413,632 | $ | 26,175 | $ | (4,137 | ) | $ | 2,435,670 | |||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Income Taxes | ' | |||||||||||||||
Schedule of the significant components of the Company's deferred taxes | ' | |||||||||||||||
Significant components of the Company's deferred taxes were as follows at December 31 (in thousands): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Current deferred tax assets (liabilities)—Holding: | ||||||||||||||||
Accounts receivable | $ | 1,611 | $ | 43 | ||||||||||||
Accrual to cash | (89,609 | ) | (48,850 | ) | ||||||||||||
Accrued liabilities | 13,586 | 17,407 | ||||||||||||||
Credit carryforwards | 693 | 381 | ||||||||||||||
Net operating loss carryforwards | 38,232 | 7,451 | ||||||||||||||
| | | | | | | | |||||||||
Net current deferred tax liabilities | (35,487 | ) | (23,568 | ) | ||||||||||||
| | | | | | | | |||||||||
Long-term deferred tax (liabilities) assets—Holding: | ||||||||||||||||
Intangible assets | (171,315 | ) | (186,685 | ) | ||||||||||||
Insurance and other long-term liabilities | 37,692 | 50,560 | ||||||||||||||
Excess of tax over book depreciation | (40,729 | ) | (43,975 | ) | ||||||||||||
Net operating loss carryforwards | 27,895 | 31,653 | ||||||||||||||
Credit carryforwards | 2,555 | 2,048 | ||||||||||||||
Valuation allowance | (7,228 | ) | (10,362 | ) | ||||||||||||
| | | | | | | | |||||||||
Net long-term deferred tax liabilities | (151,130 | ) | (156,761 | ) | ||||||||||||
| | | | | | | | |||||||||
Net deferred tax liabilities—Holding | $ | (186,617 | ) | $ | (180,329 | ) | ||||||||||
| | | | | | | | |||||||||
| | | | | | | | |||||||||
2013 | 2012 | |||||||||||||||
Current deferred tax assets (liabilities)—Corporation: | ||||||||||||||||
Accounts receivable | $ | 1,611 | $ | 43 | ||||||||||||
Accrual to cash | (89,609 | ) | (48,850 | ) | ||||||||||||
Accrued liabilities | 13,586 | 17,407 | ||||||||||||||
Credit carryforwards | 693 | 381 | ||||||||||||||
Net operating loss carryforwards | 17,920 | 7,451 | ||||||||||||||
| | | | | | | | |||||||||
Net current deferred tax liabilities | (55,799 | ) | (23,568 | ) | ||||||||||||
| | | | | | | | |||||||||
Long-term deferred tax (liabilities) assets—Corporation: | ||||||||||||||||
Intangible assets | (171,315 | ) | (186,685 | ) | ||||||||||||
Insurance and other long-term liabilities | 37,692 | 50,471 | ||||||||||||||
Excess of tax over book depreciation | (40,729 | ) | (43,975 | ) | ||||||||||||
Net operating loss carryforwards | 27,767 | 31,653 | ||||||||||||||
Credit carryforwards | 2,555 | 2,048 | ||||||||||||||
Valuation allowance | (7,228 | ) | (10,362 | ) | ||||||||||||
| | | | | | | | |||||||||
Net long-term deferred tax liabilities | (151,258 | ) | (156,850 | ) | ||||||||||||
| | | | | | | | |||||||||
Net deferred tax liabilities—Corporation | $ | (207,057 | ) | $ | (180,418 | ) | ||||||||||
| | | | | | | | |||||||||
| | | | | | | | |||||||||
Schedule of the reconciliation of beginning and ending amount of unrecognized tax benefits | ' | |||||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
May 24 | January 1 | |||||||||||||||
Year ended | Year ended | through | through | |||||||||||||
December 31, | December 31, | December 31, | May 24, | |||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Balance as of beginning of period | $ | 3,467 | $ | 963 | $ | 5,479 | $ | 3,301 | ||||||||
Additions for tax positions of prior years | 216 | 5,397 | 1,552 | 2,178 | ||||||||||||
Reductions for tax positions of prior years | — | (1,896 | ) | (6,068 | ) | — | ||||||||||
Reductions for tax positions due to lapse of statute of limitations | (3,069 | ) | (997 | ) | — | — | ||||||||||
| | | | | | | | | | | | | | | | |
Balance as of end of period | $ | 614 | $ | 3,467 | $ | 963 | $ | 5,479 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Schedule of the components of income tax expense | ' | |||||||||||||||
The components of income tax expense for Holding and Corporation were as follows (in thousands): | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Current tax (benefit) expense—Holding | ||||||||||||||||
State | $ | 3,937 | $ | 5,131 | $ | 2,212 | $ | 4,835 | ||||||||
Federal | (7,347 | ) | 34,965 | (220 | ) | 22,285 | ||||||||||
| | | | | | | | | | | | | | | | |
Total | (3,410 | ) | 40,096 | 1,992 | 27,120 | |||||||||||
| | | | | | | | | | | | | | | | |
Deferred tax (benefit) expense—Holding | ||||||||||||||||
State | (5,586 | ) | 1,004 | (266 | ) | (1,596 | ) | |||||||||
Federal | 8,002 | (13,637 | ) | 7,602 | (6,282 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Total | 2,416 | (12,633 | ) | 7,336 | (7,878 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Total tax (benefit) expense—Holding | ||||||||||||||||
State | (1,649 | ) | 6,135 | 1,946 | 3,239 | |||||||||||
Federal | 655 | 21,328 | 7,382 | 16,003 | ||||||||||||
| | | | | | | | | | | | | | | | |
Total | $ | (994 | ) | $ | 27,463 | $ | 9,328 | $ | 19,242 | |||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Current tax (benefit) expense—Corporation | ||||||||||||||||
State | $ | 6,297 | $ | 5,773 | $ | 2,212 | $ | 4,835 | ||||||||
Federal | (7,347 | ) | 38,621 | (220 | ) | 22,285 | ||||||||||
| | | | | | | | | | | | | | | | |
Total | (1,050 | ) | 44,394 | 1,992 | 27,120 | |||||||||||
| | | | | | | | | | | | | | | | |
Deferred tax (benefit) expense—Corporation | ||||||||||||||||
State | (5,464 | ) | 1,011 | (266 | ) | (1,596 | ) | |||||||||
Federal | 28,232 | (13,555 | ) | 7,602 | (6,282 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Total | 22,768 | (12,544 | ) | 7,336 | (7,878 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Total tax expense—Corporation | ||||||||||||||||
State | 833 | 6,784 | 1,946 | 3,239 | ||||||||||||
Federal | 20,885 | 25,066 | 7,382 | 16,003 | ||||||||||||
| | | | | | | | | | | | | | | | |
Total | $ | 21,718 | $ | 31,850 | $ | 9,328 | $ | 19,242 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Schedule of the reconciliation of provision for income taxes at the federal statutory rate compared to the Company's effective tax rate | ' | |||||||||||||||
A reconciliation of the provision for income taxes at the federal statutory rate compared to the effective tax rate for Holding and Corporation is as follows (in thousands): | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Income tax expense at the statutory rate—Holding | $ | 3,562 | $ | 23,895 | $ | 7,725 | $ | 13,969 | ||||||||
Increase in income taxes resulting from: | ||||||||||||||||
State taxes, net of federal | 1,834 | 4,218 | 1,450 | 2,730 | ||||||||||||
Tax settlements and filings | (2,853 | ) | (638 | ) | (331 | ) | 40 | |||||||||
Buyout transaction costs | — | — | — | 4,606 | ||||||||||||
Tax credits | (779 | ) | — | — | (806 | ) | ||||||||||
Dissenting shareholder settlement | 3,203 | — | — | — | ||||||||||||
Change in valuation allowance | (3,126 | ) | — | — | — | |||||||||||
State deferred rate change | (1,161 | ) | — | — | — | |||||||||||
Income attributable to noncontrolling interest | (2,093 | ) | — | — | — | |||||||||||
Other | 419 | (12 | ) | 484 | (1,297 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Income tax (benefit) expense—Holding | $ | (994 | ) | $ | 27,463 | $ | 9,328 | $ | 19,242 | |||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Income tax expense at the statutory rate—Corporation | $ | 24,618 | $ | 27,976 | $ | 7,725 | $ | 13,969 | ||||||||
Increase in income taxes resulting from: | ||||||||||||||||
State taxes, net of federal | 3,489 | 4,524 | 1,450 | 2,730 | ||||||||||||
Tax settlements and filings | (2,853 | ) | (638 | ) | (331 | ) | 40 | |||||||||
Buyout transaction costs | — | — | — | 4,606 | ||||||||||||
Tax credits | (779 | ) | — | — | (806 | ) | ||||||||||
Dissenting shareholder settlement | 3,203 | — | — | — | ||||||||||||
Change in valuation allowance | (3,126 | ) | — | — | — | |||||||||||
State deferred rate change | (1,161 | ) | — | — | — | |||||||||||
Income attributable to noncontrolling interest | (2,093 | ) | — | — | — | |||||||||||
Other | 420 | (12 | ) | 484 | (1,297 | ) | ||||||||||
| | | | | | | | | | | | | | | | |
Income tax expense—Corporation | $ | 21,718 | $ | 31,850 | $ | 9,328 | $ | 19,242 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities | ' | |||||||
Schedule of accrued liabilities | ' | |||||||
Accrued liabilities were as follows at December 31 (in thousands): | ||||||||
2013 | 2012 | |||||||
Accrued wages and benefits | $ | 161,398 | $ | 136,334 | ||||
Accrued paid time-off | 25,713 | 25,626 | ||||||
Current portion of self-insurance reserve | 73,738 | 49,224 | ||||||
Accrued restructuring | 5,682 | 12,318 | ||||||
Current portion of compliance and legal | 2,000 | 3,711 | ||||||
Accrued billing and collection fees | 2,954 | 4,945 | ||||||
Accrued incentive compensation | 19,570 | 22,274 | ||||||
Accrued interest | 6,898 | 7,889 | ||||||
Accrued income taxes payable | 7,043 | 19,487 | ||||||
Accrued dissenting shareholder settlement | — | 41,826 | ||||||
Other | 52,983 | 63,796 | ||||||
| | | | | | | | |
Total accrued liabilities—Corporation | $ | 357,979 | $ | 387,430 | ||||
Adjustment for Holding: | ||||||||
Accrued interest | — | 10,406 | ||||||
Accrued income taxes payable | (7,043 | ) | (8,901 | ) | ||||
| | | | | | | | |
Total accrued liabilities—Holding | $ | 350,936 | $ | 388,935 | ||||
| | | | | | | | |
| | | | | | | | |
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt | ' | |||||||
Schedule of long-term debt and capital leases | ' | |||||||
Long-term debt and capital leases consisted of the following (in thousands): | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
Senior unsecured notes due 2019 | $ | 607,750 | $ | 935,000 | ||||
Senior secured term loan due 2018 (4.00% at December 31, 2013) | 1,302,945 | 1,166,316 | ||||||
Discount on senior secured term loan | (4,217 | ) | (5,707 | ) | ||||
ABL Facility | — | 125,000 | ||||||
Notes due at various dates from 2014 to 2022 with interest rates from 6% to 10% | 852 | 1,149 | ||||||
Capital lease obligations due at various dates from 2014 to 2018 | 369 | 447 | ||||||
| | | | | | | | |
1,907,699 | 2,222,205 | |||||||
Less current portion | (12,318 | ) | (12,282 | ) | ||||
| | | | | | | | |
Total long-term debt—Corporation | $ | 1,895,381 | $ | 2,209,923 | ||||
Senior PIK Toggle Notes due 2017—adjustment for Holding | — | 437,175 | ||||||
| | | | | | | | |
Total long-term debt—Holding | $ | 1,895,381 | $ | 2,647,098 | ||||
| | | | | | | | |
| | | | | | | | |
Schedule of aggregate amount of minimum payments required on long-term debt and capital lease obligations | ' | |||||||
Year ending December 31, (in thousands) | ||||||||
2014 | $ | 13,784 | ||||||
2015 | 13,501 | |||||||
2016 | 13,930 | |||||||
2017 | 13,471 | |||||||
2018 | 13,389 | |||||||
Thereafter | 1,843,841 | |||||||
| | | | | ||||
$ | 1,911,916 | |||||||
| | | | | ||||
| | | | | ||||
Changes_in_Accumulated_Other_C1
Changes in Accumulated Other Comprehensive Income by Component (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Changes in Accumulated Other Comprehensive Income by Component | ' | |||||||||||||
Summary of changes in the Company's AOCI by component, after tax | ' | |||||||||||||
All amounts are after tax and in thousands. | ||||||||||||||
Fuel hedge | Interest | Unrealized | Total | |||||||||||
rate swap | holding gains on | |||||||||||||
available-for-sale | ||||||||||||||
securities | ||||||||||||||
Balance at January 1, 2012 | $ | (1,201 | ) | $ | (41 | ) | $ | (1,460 | ) | $ | (2,702 | ) | ||
Other comprehensive income before reclassifications | 1,619 | (2,507 | ) | 3,297 | 2,409 | |||||||||
Amounts reclassified from accumulated other comprehensive income | 639 | (313 | ) | (246 | ) | 80 | ||||||||
| | | | | | | | | | | | | | |
Net current-period other comprehensive income | 2,258 | (2,820 | ) | 3,051 | (2,489 | ) | ||||||||
| | | | | | | | | | | | | | |
Balance at December 31, 2012 | 1,057 | (2,861 | ) | 1,591 | (213 | ) | ||||||||
Other comprehensive income before reclassifications | (396 | ) | (336 | ) | (598 | ) | (1,330 | ) | ||||||
Amounts reclassified from accumulated other comprehensive income | (241 | ) | 1,239 | (294 | ) | 704 | ||||||||
| | | | | | | | | | | | | | |
Net current-period other comprehensive income | (637 | ) | 903 | (892 | ) | (626 | ) | |||||||
| | | | | | | | | | | | | | |
Balance at December 31, 2013 | $ | 420 | $ | (1,958 | ) | $ | 699 | $ | (839 | ) | ||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Schedule of Consolidated Statement of Operations affected by reclassifications out of AOCI | ' | |||||||||||||
The following table shows the line item on the Consolidated Statements of Operations affected by reclassifications out of AOCI (in thousands). | ||||||||||||||
Amount reclassified | ||||||||||||||
from AOCI | ||||||||||||||
Details about AOCI components | Year ended | Year ended | Statements of Operations | |||||||||||
December 31, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Gains and losses on cash flow hedges | ||||||||||||||
Fuel hedge | $ | 386 | $ | 1,024 | Operating expenses | |||||||||
Interest rate swap | (1,986 | ) | (502 | ) | Interest expense | |||||||||
| | | | | | | | | ||||||
(1,600 | ) | 522 | Total before tax | |||||||||||
602 | (196 | ) | Tax benefit | |||||||||||
| | | | | | | | | ||||||
$ | (998 | ) | $ | 326 | Net of tax | |||||||||
| | | | | | | | | ||||||
| | | | | | | | | ||||||
Unrealized holding gains on available-for-sale securities | $ | 471 | $ | 394 | Realized gains (losses) on investments | |||||||||
| | | | | | | | | ||||||
471 | 394 | Total before tax | ||||||||||||
(177 | ) | (148 | ) | Tax expense | ||||||||||
| | | | | | | | | ||||||
$ | 294 | $ | 246 | Net of tax | ||||||||||
| | | | | | | | | ||||||
| | | | | | | | | ||||||
Restructuring_Tables
Restructuring (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Restructuring | ' | |||||||||||||||||||
Schedule of restructuring charges | ' | |||||||||||||||||||
AMR | ||||||||||||||||||||
Lease & | ||||||||||||||||||||
Other | ||||||||||||||||||||
Contract | ||||||||||||||||||||
Termination | EmCare | Corporation | ||||||||||||||||||
Cost | Severance | Lease | Severance | Severance | Total | |||||||||||||||
(in thousands) | ||||||||||||||||||||
Balance at January 1, 2012 | $ | 3,620 | $ | 474 | $ | 94 | $ | 6 | $ | 171 | $ | 4,365 | ||||||||
Incurred | 5,901 | 6,566 | — | 812 | 807 | 14,086 | ||||||||||||||
Paid | (1,929 | ) | (4,025 | ) | (94 | ) | (45 | ) | (570 | ) | (6,663 | ) | ||||||||
Adjustments | 530 | — | — | — | — | 530 | ||||||||||||||
| | | | | | | | | | | | | | | | | | | | |
Balance at December 31, 2012 | $ | 8,122 | $ | 3,015 | $ | — | $ | 773 | $ | 408 | $ | 12,318 | ||||||||
Incurred | 1,876 | 2,890 | — | 913 | 20 | 5,699 | ||||||||||||||
Paid | (6,989 | ) | (3,765 | ) | — | (1,204 | ) | (377 | ) | (12,335 | ) | |||||||||
| | | | | | | | | | | | | | | | | | | | |
Balance at December 31, 2013 | $ | 3,009 | $ | 2,140 | — | $ | 482 | $ | 51 | $ | 5,682 | |||||||||
| | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Equity_Based_Compensation_Tabl
Equity Based Compensation (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Equity Based Compensation | ' | |||||||||||
Schedule of stock option activity | ' | |||||||||||
Stock option activity for the year ended December 31, 2013 was as follows (in thousands): | ||||||||||||
Class A | Weighted | Aggregate | Weighted | |||||||||
Shares | Average | Intrinsic Value | Average | |||||||||
Exercise | Remaining Life | |||||||||||
Price | ||||||||||||
Outstanding at beginning of year | 17,847,162 | $ | 3.35 | $ | 36,801 | 7.1 years | ||||||
Granted | 590,198 | $ | 8.66 | |||||||||
Exercised | (1,786,485 | ) | $ | 1.78 | ||||||||
Forfeited | (328,727 | ) | $ | 3.84 | ||||||||
| | | | | | | | | | | | |
Outstanding at end of year | 16,322,148 | $ | 3.7 | $ | 519,325 | 6.6 years | ||||||
| | | | | | | | | | | | |
| | | | | | | | | | | | |
Exercisable at end of year | 11,115,129 | $ | 3.44 | $ | 356,593 | 6.1 years | ||||||
| | | | | | | | | | | | |
| | | | | | | | | | | | |
Schedule of range of assumptions estimated to calculate fair value of each stock option award | ' | |||||||||||
2013 | 2012 | 2011 | ||||||||||
Volatility | 30% - 35% | 30% | 30% | |||||||||
Risk free rate | 0.67% - 1.56% | 0.2% - 0.82% | 0.50% | |||||||||
Expected dividend yield | 0% | 0% | 0% | |||||||||
Expected term of options in years | 5 | 2.0 - 5.0 | 4.6 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies | ' | |||||||
Schedule of future commitments under non-cancelable capital and operating leases for premises, equipment and other recurring commitments | ' | |||||||
Future commitments under non-cancelable capital and operating leases for premises, equipment and other recurring commitments are as follows (in thousands): | ||||||||
Capital | Operating | |||||||
Leases | Leases & | |||||||
Other | ||||||||
Year ending December 31, | ||||||||
2014 | $ | 106 | $ | 73,954 | ||||
2015 | 106 | 44,566 | ||||||
2016 | 106 | 38,323 | ||||||
2017 | 106 | 33,140 | ||||||
2018 | 20 | 25,247 | ||||||
Thereafter | — | 41,867 | ||||||
| | | | | | | | |
444 | $ | 257,097 | ||||||
| | | | | | | | |
| | | | | | | | |
Less imputed interest | (75 | ) | ||||||
| | | | | | | | |
Total capital lease obligations | 369 | |||||||
Less current portion | (76 | ) | ||||||
| | | | | | | | |
Long-term capital lease obligations | $ | 293 | ||||||
| | | | | | | | |
| | | | | | | | |
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Variable Interest Entities | ' | |||||||
Summary of the HCA-EmCare JV assets and liabilities which are included in the consolidated financial statements | ' | |||||||
The following is a summary of the HCA-EmCare JV assets and liabilities as of December 31, 2013 and 2012, which are included in the Company's consolidated financial statements (in thousands). | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
Current assets | $ | 88,479 | $ | 31,142 | ||||
Current liabilities | 22,005 | 20,081 |
Insurance_Tables
Insurance (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Insurance | ' | |||||||||||||||
Summary of the non-health and welfare insurance reserves | ' | |||||||||||||||
The table below summarizes the non-health and welfare insurance reserves included in the accompanying balance sheets (in thousands): | ||||||||||||||||
Accrued | Insurance | Total | ||||||||||||||
Liabilities | Reserves | Liabilities | ||||||||||||||
December 31, 2013 | ||||||||||||||||
Automobile | $ | 7,034 | $ | 5,779 | $ | 12,813 | ||||||||||
Workers compensation | 21,876 | 32,097 | 53,973 | |||||||||||||
General/Professional liability | 44,828 | 137,551 | 182,379 | |||||||||||||
| | | | | | | | | | | ||||||
$ | 73,738 | $ | 175,427 | $ | 249,165 | |||||||||||
| | | | | | | | | | | ||||||
| | | | | | | | | | | ||||||
December 31, 2012 | ||||||||||||||||
Automobile | $ | 7,627 | $ | 6,619 | $ | 14,246 | ||||||||||
Workers compensation | 20,970 | 32,728 | 53,698 | |||||||||||||
General/Professional liability | 20,627 | 150,026 | 170,653 | |||||||||||||
| | | | | | | | | | | ||||||
$ | 49,224 | $ | 189,373 | $ | 238,597 | |||||||||||
| | | | | | | | | | | ||||||
| | | | | | | | | | | ||||||
Schedule of changes to the Company's estimated losses under self-insured programs | ' | |||||||||||||||
The changes to the Company's estimated losses under self-insured programs were as follows (in thousands): | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | May 25 | January 1 | |||||||||||||
December 31 | December 31 | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Balance, beginning of period | $ | 238,597 | $ | 247,872 | $ | 216,076 | $ | 208,407 | ||||||||
Expense for current period reserves | 74,501 | 77,003 | 51,144 | 25,562 | ||||||||||||
Unfavorable (favorable) changes to prior reserves | 9,141 | (2,480 | ) | 11,308 | 2,452 | |||||||||||
Changes in losses covered by commercial insurance programs | — | (9,185 | ) | 10,785 | — | |||||||||||
Payments for claims | (73,074 | ) | (74,613 | ) | (41,441 | ) | (31,045 | ) | ||||||||
| | | | | | | | | | | | | | | | |
Balance, end of period | 249,165 | 238,597 | 247,872 | 205,376 | ||||||||||||
Discount factor | 8,418 | 8,485 | 7,875 | 17,368 | ||||||||||||
| | | | | | | | | | | | | | | | |
Undiscounted reserve, end of period | $ | 257,583 | $ | 247,082 | $ | 255,747 | $ | 222,744 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Summary of expected future claim payments relating to the entity's non-health and welfare insurance reserves | ' | |||||||||||||||
The following table reflects a summary of expected future claim payments relating to non-health and welfare insurance reserves (in thousands): | ||||||||||||||||
Year | Amount | |||||||||||||||
2014 | $ | 73,738 | ||||||||||||||
2015 | 72,140 | |||||||||||||||
2016 | 47,735 | |||||||||||||||
2017 | 27,567 | |||||||||||||||
2018 | 14,559 | |||||||||||||||
Thereafter | 13,426 | |||||||||||||||
| | | | | ||||||||||||
Total | $ | 249,165 | ||||||||||||||
| | | | | ||||||||||||
| | | | | ||||||||||||
Summary of deposits and restricted investments | ' | |||||||||||||||
The following table summarizes these deposits and restricted investments (in thousands): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Restricted cash, cash equivalents and other | $ | 18,755 | $ | 5,327 | ||||||||||||
Restricted marketable securities | 8,333 | 19,154 | ||||||||||||||
Other short-term insurance collateral | 2,531 | — | ||||||||||||||
| | | | | | | | |||||||||
Insurance collateral—short-term | $ | 29,619 | $ | 24,481 | ||||||||||||
| | | | | | | | |||||||||
| | | | | | | | |||||||||
Restricted long-term investments | 4,894 | $ | 4,504 | |||||||||||||
Other long-term insurance collateral | 7,822 | 16,256 | ||||||||||||||
| | | | | | | | |||||||||
Insurance collateral—long-term | $ | 12,716 | $ | 20,760 | ||||||||||||
| | | | | | | | |||||||||
| | | | | | | | |||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Segment Information | ' | |||||||||||||||
Schedule of the Company's operating segment results | ' | |||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | 25-May | 1-Jan | |||||||||||||
31-Dec | 31-Dec | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
(in thousands) | ||||||||||||||||
Facility-Based Physician Services | ||||||||||||||||
Net revenue | $ | 2,358,787 | $ | 1,915,148 | $ | 1,025,003 | $ | 642,059 | ||||||||
Income from operations | 219,842 | 199,300 | 103,532 | 60,710 | ||||||||||||
Segment Adjusted EBITDA | 294,033 | 260,657 | 141,374 | 77,686 | ||||||||||||
Goodwill | 1,574,882 | 1,555,924 | 1,622,309 | — | ||||||||||||
Intangible Assets, net | 370,897 | 407,184 | 398,284 | — | ||||||||||||
Total identifiable assets | 2,624,161 | 2,468,605 | 2,459,724 | — | ||||||||||||
Capital expenditures | 8,215 | 12,229 | 1,512 | 1,543 | ||||||||||||
Medical Transportation Services | ||||||||||||||||
Net revenue | $ | 1,369,525 | $ | 1,384,973 | $ | 860,808 | $ | 579,731 | ||||||||
Income from operations | 56,986 | 57,641 | 24,400 | 24,770 | ||||||||||||
Segment Adjusted EBITDA | 151,745 | 143,994 | 73,415 | 52,896 | ||||||||||||
Goodwill | 860,788 | 857,708 | 530,705 | — | ||||||||||||
Intangible Assets, net | 142,801 | 157,034 | 165,943 | — | ||||||||||||
Total identifiable assets | 1,515,162 | 1,544,908 | 1,318,772 | — | ||||||||||||
Capital expenditures | 51,449 | 42,688 | 42,711 | 15,946 | ||||||||||||
Segment Totals | ||||||||||||||||
Net revenue | $ | 3,728,312 | $ | 3,300,121 | $ | 1,885,811 | $ | 1,221,790 | ||||||||
Income from operations | 276,828 | 256,941 | 127,932 | 85,480 | ||||||||||||
Segment Adjusted EBITDA | 445,778 | 404,651 | 214,789 | 130,582 | ||||||||||||
Goodwill | 2,435,670 | 2,413,632 | 2,153,014 | — | ||||||||||||
Intangible Assets, net | 513,698 | 564,218 | 564,227 | — | ||||||||||||
Total identifiable assets | 4,139,323 | 4,013,513 | 3,778,496 | — | ||||||||||||
Capital expenditures | 59,664 | 54,917 | 44,223 | 17,489 | ||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
May 25 | January 1 | |||||||||||||||
through | through | |||||||||||||||
December 31, | May 24, | |||||||||||||||
Year ended | Year ended | 2011 | 2011 | |||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
(in thousands) | ||||||||||||||||
Reconciliation of Adjusted EBITDA to Net Income | ||||||||||||||||
Adjusted EBITDA—Holding | $ | 445,705 | $ | 404,452 | $ | 214,789 | $ | 130,582 | ||||||||
Other operating income (expenses) | 73 | 199 | — | — | ||||||||||||
| | | | | | | | | | | | | | | | |
Segment Adjusted EBITDA / Adjusted EBITDA—Corporation | 445,778 | 404,651 | 214,789 | 130,582 | ||||||||||||
Depreciation and amortization expense | (140,632 | ) | (123,751 | ) | (71,312 | ) | (28,467 | ) | ||||||||
Restructuring charges | (5,669 | ) | (14,086 | ) | (6,483 | ) | — | |||||||||
Interest income from restricted assets | (792 | ) | (625 | ) | (1,950 | ) | (1,124 | ) | ||||||||
Equity-based compensation expense | (4,248 | ) | (4,248 | ) | (4,098 | ) | (15,112 | ) | ||||||||
Related party management fees | (23,109 | ) | (5,000 | ) | (3,014 | ) | (399 | ) | ||||||||
Net income attributable to noncontrolling interest | 5,500 | — | — | — | ||||||||||||
| | | | | | | | | | | | | | | | |
Income from operations | 276,828 | 256,941 | 127,932 | 85,480 | ||||||||||||
Interest income from restricted assets | 792 | 625 | 1,950 | 1,124 | ||||||||||||
Interest expense | (156,134 | ) | (171,145 | ) | (104,701 | ) | (7,886 | ) | ||||||||
Realized gains (losses) on investments | 471 | 394 | 41 | (9 | ) | |||||||||||
Interest and other (expense) income | (12,760 | ) | 1,422 | (3,151 | ) | (28,873 | ) | |||||||||
Loss on early debt extinguishment | (38,860 | ) | (8,307 | ) | — | (10,069 | ) | |||||||||
Income tax expense | (21,718 | ) | (31,850 | ) | (9,328 | ) | (19,242 | ) | ||||||||
Equity in earnings of unconsolidated subsidiary | 323 | 379 | 276 | 143 | ||||||||||||
| | | | | | | | | | | | | | | | |
Net income—Corporation | $ | 48,942 | $ | 48,459 | $ | 13,019 | $ | 20,668 | ||||||||
Adjustments for Holding: | ||||||||||||||||
Other operating income (expenses) | (73 | ) | (199 | ) | — | — | ||||||||||
Loss on early debt extinguishment | (29,519 | ) | — | — | — | |||||||||||
Interest expense | (30,567 | ) | (11,462 | ) | — | — | ||||||||||
Income tax benefit | 22,712 | 4,387 | — | — | ||||||||||||
| | | | | | | | | | | | | | | | |
Net income—Holding. | $ | 11,495 | $ | 41,185 | $ | 13,019 | $ | 20,668 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Schedule of reconciliation of Segment Adjusted EBITDA to cash flows provided by operating activities | ' | |||||||||||||||
A reconciliation of Adjusted EBITDA to cash flows provided by operating activities is as follows (in thousands): | ||||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | May 25 | January 1 | ||||||||||||||
December 31, | through | through | ||||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
Adjusted EBITDA—Holding | $ | 445,705 | $ | 404,452 | $ | 214,789 | $ | 130,582 | ||||||||
Other operating income (expenses) | 73 | 199 | — | — | ||||||||||||
| | | | | | | | | | | | | | | | |
Adjusted EBITDA—Corporation | 445,778 | 404,651 | 214,789 | 130,582 | ||||||||||||
Related party management fees | (23,109 | ) | (5,000 | ) | (3,014 | ) | (399 | ) | ||||||||
Restructuring charges | (5,669 | ) | (14,086 | ) | (6,483 | ) | — | |||||||||
Interest expense (less deferred loan fee amortization) | (140,996 | ) | (154,794 | ) | (94,470 | ) | (6,556 | ) | ||||||||
Payment of dissenting shareholder settlement | (13,717 | ) | — | — | — | |||||||||||
Change in accounts receivable | (175,699 | ) | (82,126 | ) | (4,730 | ) | (10,149 | ) | ||||||||
Change in other operating assets/liabilities | 6,224 | 66,377 | 25,146 | 14,234 | ||||||||||||
Excess tax benefits from equity-based compensation | (62 | ) | (873 | ) | — | (12,427 | ) | |||||||||
Interest and other (expense) income | (12,760 | ) | 1,422 | (3,151 | ) | (28,873 | ) | |||||||||
Income tax benefit (expense), net of change in deferred taxes | 1,050 | 82 | (13,459 | ) | (18,897 | ) | ||||||||||
Net income attributable to noncontrolling interest | 5,500 | |||||||||||||||
Other | 1,000 | 595 | 193 | 460 | ||||||||||||
| | | | | | | | | | | | | | | | |
Cash flows provided by operating activities—Corporation | $ | 87,540 | $ | 216,248 | $ | 114,821 | $ | 67,975 | ||||||||
Adjustments for Holding: | ||||||||||||||||
Other operating income (expenses) | (73 | ) | (199 | ) | — | — | ||||||||||
Interest expense (less deferred loan fee amortization) | (27,750 | ) | (10,407 | ) | — | — | ||||||||||
Change in accounts receivable | (269 | ) | 269 | — | — | |||||||||||
Change in other operating assets/liabilities | (7,693 | ) | 6,137 | — | — | |||||||||||
Income tax benefit, net of change in deferred taxes | 2,360 | 4,387 | — | — | ||||||||||||
| | | | | | | | | | | | | | | | |
Cash flows provided by operating activities—Holding | $ | 54,115 | $ | 216,435 | $ | 114,821 | $ | 67,975 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Schedule of reconciliation of segment assets to total assets | ' | |||||||||||||||
A reconciliation of segment assets to total assets and segment capital expenditures to total capital expenditures is as follows as of December 31 (in thousands): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Segment total identifiable assets | $ | 4,139,323 | $ | 4,013,513 | ||||||||||||
Corporate cash | 52,070 | (4,391 | ) | |||||||||||||
Other corporate assets | 27,397 | 20,218 | ||||||||||||||
| | | | | | | | |||||||||
Total identifiable assets—Corporation | $ | 4,218,790 | $ | 4,029,340 | ||||||||||||
Adjustments for Holding: | ||||||||||||||||
Corporate cash | 81,722 | 281 | ||||||||||||||
Other corporate assets | (495 | ) | 7,212 | |||||||||||||
| | | | | | | | |||||||||
Total identifiable assets—Holding | $ | 4,300,017 | $ | 4,036,833 | ||||||||||||
| | | | | | | | |||||||||
| | | | | | | | |||||||||
Schedule of reconciliation of segment capital expenditures to total capital expenditures | ' | |||||||||||||||
Successor | Predecessor | |||||||||||||||
Period from | Period from | |||||||||||||||
Year ended | Year ended | 25-May | 1-Jan | |||||||||||||
December 31, | December 31, | through | through | |||||||||||||
December 31, | May 24, | |||||||||||||||
2013 | 2012 | 2011 | 2011 | |||||||||||||
(in thousands) | ||||||||||||||||
Segment total capital expenditures | $ | 59,664 | $ | 54,917 | $ | 44,223 | $ | 17,489 | ||||||||
Corporate capital expenditures | 6,215 | 5,298 | 2,128 | 1,007 | ||||||||||||
| | | | | | | | | | | | | | | | |
Total capital expenditures | $ | 65,879 | $ | 60,215 | $ | 46,351 | $ | 18,496 | ||||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Valuation_and_Qualifying_Accou1
Valuation and Qualifying Accounts (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Valuation and Qualifying Accounts | ' | ||||||||||
Schedule of valuation and qualifying accounts | ' | ||||||||||
Allowance for | Allowance for | Total Accounts | |||||||||
Contractual | Uncompensated | Receivable | |||||||||
Discounts | Care | Allowances | |||||||||
(in thousands) | |||||||||||
Balance at January 1, 2011 | $ | 1,092,188 | $ | 629,419 | $ | 1,721,607 | |||||
Additions | 6,117,634 | 2,091,750 | 8,209,384 | ||||||||
Reductions | (5,955,370 | ) | (2,065,750 | ) | (8,021,120 | ) | |||||
| | | | | | | | | | | |
Balance at December 31, 2011 | 1,254,452 | 655,419 | 1,909,871 | ||||||||
Additions | 7,169,942 | 2,534,511 | 9,704,453 | ||||||||
Reductions | (6,804,906 | ) | (2,348,176 | ) | (9,153,082 | ) | |||||
| | | | | | | | | | | |
Balance at December 31, 2012 | 1,619,488 | 841,754 | 2,461,242 | ||||||||
Additions | 8,607,966 | 3,043,210 | 11,651,176 | ||||||||
Reductions | (8,224,750 | ) | (2,846,131 | ) | (11,070,881 | ) | |||||
| | | | | | | | | | | |
Balance at December 31, 2013 | $ | 2,002,704 | $ | 1,038,833 | $ | 3,041,537 | |||||
| | | | | | | | | | | |
| | | | | | | | | | | |
Guarantors_of_Debt_Tables
Guarantors of Debt (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Guarantors of Debt | ' | ||||||||||||||||
Schedule of Consolidating Balance Sheet | ' | ||||||||||||||||
Consolidating Balance Sheet | |||||||||||||||||
As of December 31, 2013 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non- | Adjustments | |||||||||||||||
Guarantor | |||||||||||||||||
Assets | |||||||||||||||||
Current assets: | |||||||||||||||||
Cash and cash equivalents | $ | — | $ | 65,516 | $ | 67,224 | $ | (9,750 | ) | $ | 122,990 | ||||||
Insurance collateral | — | 11,960 | 53,587 | (35,928 | ) | 29,619 | |||||||||||
Trade and other accounts receivable, net | — | 799,021 | 3,561 | (1,436 | ) | 801,146 | |||||||||||
Parts and supplies inventory | — | 23,367 | 9 | — | 23,376 | ||||||||||||
Prepaids and other current assets | — | 23,692 | 233 | — | 23,925 | ||||||||||||
Current deferred tax assets | — | — | 3,515 | (3,515 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total current assets | — | 923,556 | 128,129 | (50,629 | ) | 1,001,056 | |||||||||||
Non-current assets: | |||||||||||||||||
Property, plant, and equipment, net | — | 194,715 | — | — | 194,715 | ||||||||||||
Intercompany receivable | 1,914,158 | — | 2,370 | (1,916,528 | ) | — | |||||||||||
Intangible assets, net | — | 513,698 | — | — | 513,698 | ||||||||||||
Non-current deferred tax assets | — | — | 3,125 | (3,125 | ) | — | |||||||||||
Insurance collateral | — | 82,766 | 12,716 | (82,766 | ) | 12,716 | |||||||||||
Goodwill | — | 2,438,526 | 125 | (2,981 | ) | 2,435,670 | |||||||||||
Other long-term assets | 51,803 | — | 1,845 | 7,287 | 60,935 | ||||||||||||
Investment and advances in subsidiaries | 1,450,081 | 4,199 | 4,617 | (1,458,897 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total assets | $ | 3,416,042 | $ | 4,157,460 | $ | 152,927 | $ | (3,507,639 | ) | $ | 4,218,790 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Liabilities and Equity | |||||||||||||||||
Current liabilities: | |||||||||||||||||
Accounts payable | $ | — | $ | 52,354 | $ | 118 | $ | — | $ | 52,472 | |||||||
Accrued liabilities | 13,683 | 352,816 | 14,940 | (23,460 | ) | 357,979 | |||||||||||
Current deferred tax liabilities | — | 39,002 | — | 16,797 | 55,799 | ||||||||||||
Current portion of long-term debt | 11,872 | 446 | — | — | 12,318 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Total current liabilities | 25,555 | 444,618 | 15,058 | (6,663 | ) | 478,568 | |||||||||||
Long-term debt | 1,904,358 | 773 | — | (9,750 | ) | 1,895,381 | |||||||||||
Long-term deferred tax liabilities | — | 156,378 | — | (5,120 | ) | 151,258 | |||||||||||
Insurance reserves | — | 157,055 | 133,670 | (115,298 | ) | 175,427 | |||||||||||
Other long-term liabilities | — | 16,997 | — | — | 16,997 | ||||||||||||
Intercompany payable | — | 1,916,528 | — | (1,916,528 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total liabilities | 1,929,913 | 2,692,349 | 148,728 | (2,053,359 | ) | 2,717,631 | |||||||||||
| | | | | | | | | | | | | | | | | |
Equity: | |||||||||||||||||
Common stock | — | — | 30 | (30 | ) | — | |||||||||||
Treasury stock | (1,347 | ) | — | — | — | (1,347 | ) | ||||||||||
Additional paid-in capital | 1,404,208 | 1,366,151 | — | (1,366,151 | ) | 1,404,208 | |||||||||||
Retained earnings | 84,107 | 85,524 | 3,414 | (88,938 | ) | 84,107 | |||||||||||
Accumulated other comprehensive loss | (839 | ) | (1,594 | ) | 755 | 839 | (839 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Total Envision Healthcare Corporation equity | 1,486,129 | 1,450,081 | 4,199 | (1,454,280 | ) | 1,486,129 | |||||||||||
Noncontrolling interest | — | 15,030 | — | — | 15,030 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Total equity | 1,486,129 | 1,465,111 | 4,199 | (1,454,280 | ) | 1,501,159 | |||||||||||
| | | | | | | | | | | | | | | | | |
Total liabilities and equity | $ | 3,416,042 | $ | 4,157,460 | $ | 152,927 | $ | (3,507,639 | ) | $ | 4,218,790 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Consolidating Balance Sheet | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non- | Adjustments | |||||||||||||||
Guarantor | |||||||||||||||||
Assets | |||||||||||||||||
Current assets: | |||||||||||||||||
Cash and cash equivalents | $ | — | $ | 6,924 | $ | 65,627 | $ | (15,000 | ) | $ | 57,551 | ||||||
Insurance collateral | — | 6,626 | 35,975 | (18,120 | ) | 24,481 | |||||||||||
Trade and other accounts receivable, net | — | 623,651 | 3,738 | (1,976 | ) | 625,413 | |||||||||||
Parts and supplies inventory | — | 22,041 | 9 | — | 22,050 | ||||||||||||
Prepaids and other current assets | — | 23,679 | 297 | (462 | ) | 23,514 | |||||||||||
Current deferred tax assets | — | — | 3,447 | (3,447 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total current assets | — | 682,921 | 109,093 | (39,005 | ) | 753,009 | |||||||||||
Non-current assets: | |||||||||||||||||
Property, plant, and equipment, net | — | 191,864 | — | — | 191,864 | ||||||||||||
Intercompany receivable | 2,237,508 | — | 11,596 | (2,249,104 | ) | — | |||||||||||
Intangible assets, net | — | 564,218 | — | — | 564,218 | ||||||||||||
Non-current deferred tax assets | — | — | 1,097 | (1,097 | ) | — | |||||||||||
Insurance collateral | — | 65,762 | 5,491 | (50,493 | ) | 20,760 | |||||||||||
Goodwill | — | 2,416,613 | — | (2,981 | ) | 2,413,632 | |||||||||||
Other long-term assets | 84,538 | — | 1,580 | (261 | ) | 85,857 | |||||||||||
Investment and advances in subsidiaries | 930,119 | 3,001 | — | (933,120 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total assets | $ | 3,252,165 | $ | 3,924,379 | $ | 128,857 | $ | (3,276,061 | ) | $ | 4,029,340 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Liabilities and Equity | |||||||||||||||||
Current liabilities: | |||||||||||||||||
Accounts payable | $ | — | $ | 53,505 | $ | 287 | — | $ | 53,792 | ||||||||
Accrued liabilities | 47,184 | 328,153 | 15,782 | (3,689 | ) | 387,430 | |||||||||||
Current deferred tax liabilities | — | 27,015 | — | (3,447 | ) | 23,568 | |||||||||||
Current portion of long-term debt | 11,871 | 411 | — | — | 12,282 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Total current liabilities | 59,055 | 409,084 | 16,069 | (7,136 | ) | 477,072 | |||||||||||
Long-term debt | 2,223,738 | 1,185 | — | (15,000 | ) | 2,209,923 | |||||||||||
Long-term deferred tax liabilities | — | 159,942 | — | (3,092 | ) | 156,850 | |||||||||||
Insurance reserves | — | 148,195 | 109,787 | (68,609 | ) | 189,373 | |||||||||||
Other long-term liabilities | — | 20,220 | — | — | 20,220 | ||||||||||||
Intercompany payable | — | 2,249,104 | — | (2,249,104 | ) | — | |||||||||||
| | | | | | | | | | | | | | | | | |
Total liabilities | 2,282,793 | 2,987,730 | 125,856 | (2,342,941 | ) | 3,053,438 | |||||||||||
| | | | | | | | | | | | | | | | | |
Equity: | |||||||||||||||||
Common stock | — | — | 30 | (30 | ) | — | |||||||||||
Treasury stock at cost | (381 | ) | (381 | ) | |||||||||||||
Additional paid-in capital | 908,488 | 871,306 | — | (871,306 | ) | 908,488 | |||||||||||
Retained earnings | 61,478 | 59,206 | 2,272 | (61,478 | ) | 61,478 | |||||||||||
Accumulated other comprehensive loss | (213 | ) | (393 | ) | 699 | (306 | ) | (213 | ) | ||||||||
| | | | | | | | | | | | | | | | | |
Total Envision Healthcare Corporation equity | 969,372 | 930,119 | 3,001 | (933,120 | ) | 969,372 | |||||||||||
Noncontrolling interest | — | 6,530 | — | — | 6,530 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Total equity | 969,372 | 936,649 | 3,001 | (933,120 | ) | 975,902 | |||||||||||
| | | | | | | | | | | | | | | | | |
Total liabilities and equity | $ | 3,252,165 | $ | 3,924,379 | $ | 128,857 | $ | (3,276,061 | ) | $ | 4,029,340 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Schedule of Consolidating Statements of Operations | ' | ||||||||||||||||
Consolidating Statements of Operations | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non-Guarantor | Adjustments | |||||||||||||||
Net revenue | $ | — | $ | 3,726,378 | $ | 57,494 | $ | (55,560 | ) | $ | 3,728,312 | ||||||
| | | | | | | | | | | | | | | | | |
Compensation and benefits | — | 2,666,761 | 678 | — | 2,667,439 | ||||||||||||
Operating expenses | — | 424,768 | 27 | — | 424,795 | ||||||||||||
Insurance expense | — | 106,261 | 55,592 | (55,560 | ) | 106,293 | |||||||||||
Selling, general and administrative expenses | — | 106,573 | 83 | — | 106,656 | ||||||||||||
Depreciation and amortization expense | — | 140,613 | 19 | — | 140,632 | ||||||||||||
Restructuring charges | — | 5,669 | — | — | 5,669 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Income from operations | — | 275,733 | 1,095 | — | 276,828 | ||||||||||||
Interest (loss) income from restricted assets | — | (6,526 | ) | 7,318 | — | 792 | |||||||||||
Interest expense | — | (156,134 | ) | — | — | (156,134 | ) | ||||||||||
Realized (loss) gain on investments | — | (122 | ) | 593 | — | 471 | |||||||||||
Interest and other expense | — | (12,582 | ) | (178 | ) | — | (12,760 | ) | |||||||||
Loss on early debt extinguishment | — | (38,860 | ) | — | — | (38,860 | ) | ||||||||||
| | | | | | | | | | | | | | | | | |
Income before taxes, equity in earnings of unconsolidated subsidiary and noncontrolling interest | — | 61,509 | 8,828 | — | 70,337 | ||||||||||||
Income tax expense | — | (21,696 | ) | (22 | ) | — | (21,718 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Income before equity in earnings of unconsolidated subsidiary | — | 39,813 | 8,806 | — | 48,619 | ||||||||||||
Equity in earnings of unconsolidated subsidiary | 43,442 | — | 323 | (43,442 | ) | 323 | |||||||||||
| | | | | | | | | | | | | | | | | |
Net income | 43,442 | 39,813 | 9,129 | (43,442 | ) | 48,942 | |||||||||||
Less: Net income attributable to noncontrolling interest | — | (5,500 | ) | — | — | (5,500 | ) | ||||||||||
| | | | | | | | | | | | | | | | | |
Net income attributable to Envision Healthcare Corporation | $ | 43,442 | $ | 34,313 | $ | 9,129 | $ | (43,442 | ) | $ | 43,442 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Consolidating Statements of Operations | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non-Guarantor | Adjustments | |||||||||||||||
Net revenue | $ | — | $ | 3,298,221 | $ | 75,501 | $ | (73,601 | ) | $ | 3,300,121 | ||||||
| | | | | | | | | | | | | | | | | |
Compensation and benefits | — | 2,306,975 | 653 | — | 2,307,628 | ||||||||||||
Operating expenses | — | 421,406 | 18 | — | 421,424 | ||||||||||||
Insurance expense | — | 91,288 | 80,263 | (73,601 | ) | 97,950 | |||||||||||
Selling, general and administrative expenses | — | 78,305 | 36 | — | 78,341 | ||||||||||||
Depreciation and amortization expense | — | 123,732 | 19 | — | 123,751 | ||||||||||||
Restructuring charges | — | 14,086 | — | — | 14,086 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Income from operations | — | 262,429 | (5,488 | ) | — | 256,941 | |||||||||||
Interest income from restricted assets | — | (4,290 | ) | 4,915 | — | 625 | |||||||||||
Interest expense | — | (171,145 | ) | — | — | (171,145 | ) | ||||||||||
Realized gains (losses) on investments | — | (1,302 | ) | 1,696 | — | 394 | |||||||||||
Interest and other income (expense) | — | 1,580 | (158 | ) | — | 1,422 | |||||||||||
Loss on early debt extinguishment | — | (8,307 | ) | — | — | (8,307 | ) | ||||||||||
| | | | | | | | | | | | | | | | | |
Income before taxes and equity in earnings of unconsolidated subsidiary | — | 78,965 | 965 | — | 79,930 | ||||||||||||
Income tax expense | — | (31,832 | ) | (18 | ) | — | (31,850 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Income before equity in earnings of unconsolidated subsidiary | — | 47,133 | 947 | — | 48,080 | ||||||||||||
Equity in earnings of unconsolidated subsidiary | 48,459 | — | 379 | (48,459 | ) | 379 | |||||||||||
| | | | | | | | | | | | | | | | | |
Net income | $ | 48,459 | $ | 47,133 | $ | 1,326 | $ | (48,459 | ) | $ | 48,459 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Consolidating Statements of Operations | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the period from May 25 through December 31, 2011 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non- | Adjustments | |||||||||||||||
Guarantors | |||||||||||||||||
Net revenue | $ | — | $ | 1,884,615 | $ | 56,182 | $ | (54,986 | ) | $ | 1,885,811 | ||||||
| | | | | | | | | | | | | | | | | |
Compensation and benefits | — | 1,310,584 | 476 | — | 1,311,060 | ||||||||||||
Operating expenses | — | 259,620 | 19 | — | 259,639 | ||||||||||||
Insurance expense | — | 63,738 | 56,278 | (54,986 | ) | 65,030 | |||||||||||
Selling, general and administrative expenses | — | 44,060 | 295 | — | 44,355 | ||||||||||||
Depreciation and amortization expense | — | 71,285 | 27 | — | 71,312 | ||||||||||||
Restructuring charges | — | 6,483 | — | — | 6,483 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Income (loss) from operations | — | 128,845 | (913 | ) | — | 127,932 | |||||||||||
Interest income from restricted assets | — | 934 | 1,016 | — | 1,950 | ||||||||||||
Interest expense | — | (104,701 | ) | — | — | (104,701 | ) | ||||||||||
Realized gains (losses) on investments | — | — | 41 | — | 41 | ||||||||||||
Interest and other (expense) income | — | (2,832 | ) | (319 | ) | — | (3,151 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | — | 22,246 | (175 | ) | — | 22,071 | |||||||||||
Income tax expense | — | (9,324 | ) | (4 | ) | — | (9,328 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Income (loss) before equity in earnings of unconsolidated subsidiaries | — | 12,922 | (179 | ) | — | 12,743 | |||||||||||
Equity in earnings of unconsolidated subsidiaries | 11,977 | — | 276 | (11,977 | ) | 276 | |||||||||||
| | | | | | | | | | | | | | | | | |
Net income | $ | 11,977 | $ | 12,922 | $ | 97 | $ | (11,977 | ) | $ | 13,019 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Predecessor | |||||||||||||||||
For the period from January 1 through May 24, 2011 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Eliminations/ | Total | |||||||||||||
Guarantors | Non- | Adjustments | |||||||||||||||
Guarantors | |||||||||||||||||
Net revenue | $ | — | $ | 1,221,024 | $ | 20,709 | $ | (19,943 | ) | $ | 1,221,790 | ||||||
| | | | | | | | | | | | | | | | | |
Compensation and benefits | — | 874,135 | 498 | — | 874,633 | ||||||||||||
Operating expenses | — | 156,734 | 6 | — | 156,740 | ||||||||||||
Insurance expense | — | 48,471 | 18,701 | (19,943 | ) | 47,229 | |||||||||||
Selling, general and administrative expenses | — | 28,801 | 440 | — | 29,241 | ||||||||||||
Depreciation and amortization expense | — | 28,467 | — | — | 28,467 | ||||||||||||
| | | | | | | | | | | | | | | | | |
Income from operations | — | 84,416 | 1,064 | — | 85,480 | ||||||||||||
Interest income from restricted assets | — | 364 | 760 | — | 1,124 | ||||||||||||
Interest expense | — | (7,886 | ) | — | — | (7,886 | ) | ||||||||||
Realized loss on investments | — | — | (9 | ) | — | (9 | ) | ||||||||||
Interest and other (expense) income | — | (28,782 | ) | (91 | ) | — | (28,873 | ) | |||||||||
Loss on early debt extinguishment | — | (10,069 | ) | — | — | (10,069 | ) | ||||||||||
| | | | | | | | | | | | | | | | | |
Income before income taxes | — | 38,043 | 1,724 | — | 39,767 | ||||||||||||
Income tax expense | — | (19,233 | ) | (9 | ) | — | (19,242 | ) | |||||||||
| | | | | | | | | | | | | | | | | |
Income before equity in earnings of unconsolidated subsidiaries | — | 18,810 | 1,715 | — | 20,525 | ||||||||||||
Equity in earnings of unconsolidated subsidiaries | 20,668 | — | 143 | (20,668 | ) | 143 | |||||||||||
| | | | | | | | | | | | | | | | | |
Net income | $ | 20,668 | $ | 18,810 | $ | 1,858 | $ | (20,668 | ) | $ | 20,668 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Schedule of Condensed Consolidating Statement of Cash Flows | ' | ||||||||||||||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Total | ||||||||||||||
Guarantors | Non-guarantors | ||||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | 120,135 | $ | (32,595 | ) | $ | 87,540 | ||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Investing Activities | |||||||||||||||||
Purchase of property, plant and equipment | — | (65,879 | ) | — | (65,879 | ) | |||||||||||
Proceeds from sale of property, plant and equipment | — | 744 | — | 744 | |||||||||||||
Acquisition of businesses, net of cash received | — | (35,098 | ) | — | (35,098 | ) | |||||||||||
Net change in insurance collateral | — | (39,678 | ) | 43,383 | 3,705 | ||||||||||||
Other investing activities | — | (2,069 | ) | — | (2,069 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Net cash (used in) provided by investing activities | — | (141,980 | ) | 43,383 | (98,597 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Financing Activities | |||||||||||||||||
Issuance of class A common stock | 1,117 | — | — | 1,117 | |||||||||||||
Borrowings under the Term Loan | 150,000 | — | — | 150,000 | |||||||||||||
Borrowings under the ABL Facility | 345,440 | — | — | 345,440 | |||||||||||||
Capital contributions | 489,326 | — | — | 489,326 | |||||||||||||
Repayments of the Term Loan | (13,371 | ) | — | — | (13,371 | ) | |||||||||||
Repayments of the ABL Facility | (470,440 | ) | — | — | (470,440 | ) | |||||||||||
Repayments of senior notes | (327,250 | ) | — | — | (327,250 | ) | |||||||||||
Payment for debt extinguishment premiums | (27,016 | ) | — | — | (27,016 | ) | |||||||||||
Dividend paid | (20,813 | ) | — | — | (20,813 | ) | |||||||||||
Debt issue costs | (5,007 | ) | — | — | (5,007 | ) | |||||||||||
Excess tax benefits from stock-based compensation | — | 62 | — | 62 | |||||||||||||
Proceeds from non-controlling interest | — | 3,000 | — | 3,000 | |||||||||||||
Payment of dissenting shareholder settlement | — | (38,336 | ) | — | (38,336 | ) | |||||||||||
Net change in bank overdrafts | — | (10,146 | ) | — | (10,146 | ) | |||||||||||
Net intercompany borrowings (payments) | (121,986 | ) | 125,926 | (3,940 | ) | — | |||||||||||
Other financing activities | — | (70 | ) | — | (70 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Net cash provided by (used in) financing activities | — | 80,436 | (3,940 | ) | 76,496 | ||||||||||||
| | | | | | | | | | | | | | ||||
Change in cash and cash equivalents | — | 58,591 | 6,848 | 65,439 | |||||||||||||
Cash and cash equivalents, beginning of period | — | 6,925 | 50,626 | 57,551 | |||||||||||||
| | | | | | | | | | | | | | ||||
Cash and cash equivalents, end of period | $ | — | $ | 65,516 | $ | 57,474 | $ | 122,990 | |||||||||
| | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | ||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Total | ||||||||||||||
Guarantors | Non-guarantors | ||||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 187,911 | $ | 28,337 | $ | 216,248 | |||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Investing Activities | |||||||||||||||||
Purchase of property, plant and equipment | — | (60,215 | ) | — | (60,215 | ) | |||||||||||
Proceeds from sale of property, plant and equipment | — | 7,220 | — | 7,220 | |||||||||||||
Acquisition of businesses, net of cash received | — | (193,002 | ) | — | (193,002 | ) | |||||||||||
Net change in insurance collateral | — | 42,307 | 49,633 | 91,940 | |||||||||||||
Other investing activities | — | 14 | — | 14 | |||||||||||||
| | | | | | | | | | | | | | ||||
Net cash (used in) provided by investing activities | — | (203,676 | ) | 49,633 | (154,043 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Financing Activities | |||||||||||||||||
Issuance of class A common stock | 334 | — | — | 334 | |||||||||||||
Borrowings under senior secured credit facility | 130,000 | — | — | 130,000 | |||||||||||||
Repayments of the Term Loan | (262,884 | ) | — | — | (262,884 | ) | |||||||||||
Repayments of the ABL Facility | (5,000 | ) | — | — | (5,000 | ) | |||||||||||
Repayments of the senior notes | (15,000 | ) | — | — | (15,000 | ) | |||||||||||
Debt issue costs | (95 | ) | — | — | (95 | ) | |||||||||||
Excess tax benefits from stock-based compensation | — | 873 | — | 873 | |||||||||||||
Class A common stock repurchased as treasury stock | (511 | ) | — | — | (511 | ) | |||||||||||
Proceeds from noncontrolling interest | — | 6,530 | — | 6,530 | |||||||||||||
Net change in bank overdrafts | — | 7,808 | — | 7,808 | |||||||||||||
Net intercompany borrowings (payments) | 153,888 | (97,178 | ) | (56,710 | ) | — | |||||||||||
Other financing activities | (732 | ) | — | — | (732 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Net cash used in financing activities | — | (81,967 | ) | (56,710 | ) | (138,677 | ) | ||||||||||
| | | | | | | | | | | | | | ||||
Change in cash and cash equivalents | — | (97,732 | ) | 21,260 | (76,472 | ) | |||||||||||
Cash and cash equivalents, beginning of period | — | 104,657 | 29,366 | 134,023 | |||||||||||||
| | | | | | | | | | | | | | ||||
Cash and cash equivalents, end of period | $ | — | $ | 6,925 | $ | 50,626 | $ | 57,551 | |||||||||
| | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | ||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||
(in thousands) | |||||||||||||||||
Successor | |||||||||||||||||
For the period May 25 through December 31, 2011 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Total | ||||||||||||||
Guarantors | Non-guarantors | ||||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | 235,411 | $ | (120,590 | ) | $ | 114,821 | ||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Investing Activities | |||||||||||||||||
Merger, net of cash received | (2,844,221 | ) | — | — | (2,844,221 | ) | |||||||||||
Purchase of property, plant and equipment | — | (46,351 | ) | — | (46,351 | ) | |||||||||||
Proceeds from sale of property, plant and equipment | — | 216 | — | 216 | |||||||||||||
Acquisition of businesses, net of cash received | — | (84,375 | ) | — | (84,375 | ) | |||||||||||
Net change in insurance collateral | — | 2,580 | 7,347 | 9,927 | |||||||||||||
Other investing activities | — | (1,172 | ) | — | (1,172 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Net cash (used in) provided by investing activities | (2,844,221 | ) | (129,102 | ) | 7,347 | (2,965,976 | ) | ||||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Financing Activities | |||||||||||||||||
Borrowings under senior secured credit facility | 1,440,000 | — | — | 1,440,000 | |||||||||||||
Proceeds from issuance of senior notes | 950,000 | — | — | 950,000 | |||||||||||||
Proceeds from CD&R equity investment | 887,051 | — | — | 887,051 | |||||||||||||
Capital contributed by Parent | 4,978 | — | — | 4,978 | |||||||||||||
Repayments of the Term Loan | (425,175 | ) | — | — | (425,175 | ) | |||||||||||
Equity issuance costs | (31,878 | ) | — | — | (31,878 | ) | |||||||||||
Debt issue costs | (117,805 | ) | — | — | (117,805 | ) | |||||||||||
Net change in bank overdrafts | — | (6,944 | ) | — | (6,944 | ) | |||||||||||
Net intercompany borrowings (payments) | 138,647 | (251,988 | ) | 113,341 | — | ||||||||||||
Other financing activities | (1,597 | ) | — | — | (1,597 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Net cash provided by (used in) financing activities | 2,844,221 | (258,932 | ) | 113,341 | 2,698,630 | ||||||||||||
| | | | | | | | | | | | | | ||||
Change in cash and cash equivalents | — | (152,623 | ) | 98 | (152,525 | ) | |||||||||||
Cash and cash equivalents, beginning of period | — | 257,280 | 29,268 | 286,548 | |||||||||||||
| | | | | | | | | | | | | | ||||
Cash and cash equivalents, end of period | $ | — | $ | 104,657 | $ | 29,366 | $ | 134,023 | |||||||||
| | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | ||||
Predecessor | |||||||||||||||||
For the period from | |||||||||||||||||
January 1 through May 24, 2011 | |||||||||||||||||
Corporation | Subsidiary | Subsidiary | Total | ||||||||||||||
Guarantors | Non-guarantors | ||||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | 73,707 | $ | (5,732 | ) | $ | 67,975 | ||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Investing Activities | |||||||||||||||||
Purchase of property, plant and equipment | — | (18,496 | ) | — | (18,496 | ) | |||||||||||
Proceeds from sale of property, plant and equipment | — | 55 | — | 55 | |||||||||||||
Acquisition of businesses, net of cash received | — | (94,870 | ) | — | (94,870 | ) | |||||||||||
Net change in insurance collateral | — | 14,510 | 8,526 | 23,036 | |||||||||||||
Other investing activities | — | 816 | — | 816 | |||||||||||||
| | | | | | | | | | | | | | ||||
Net cash (used in) provided by investing activities | — | (97,985 | ) | 8,526 | (89,459 | ) | |||||||||||
| | | | | | | | | | | | | | ||||
Cash Flows from Financing Activities | |||||||||||||||||
Issuance of class A common stock | 559 | — | — | 559 | |||||||||||||
Repayments of the Term Loan | — | (5,312 | ) | — | (5,312 | ) | |||||||||||
Excess tax benefits from stock-based compensation | — | 12,427 | — | 12,427 | |||||||||||||
Class A common stock repurchased as treasury stock | (2,440 | ) | — | — | (2,440 | ) | |||||||||||
Net change in bank overdrafts | — | 14,241 | — | 14,241 | |||||||||||||
Net intercompany borrowings (payments) | 1,881 | (1,828 | ) | (53 | ) | — | |||||||||||
Other financing activities | — | 1,196 | — | 1,196 | |||||||||||||
| | | | | | | | | | | | | | ||||
Net cash provided by (used in) financing activities | — | 20,724 | (53 | ) | 20,671 | ||||||||||||
| | | | | | | | | | | | | | ||||
Change in cash and cash equivalents | — | (3,554 | ) | 2,741 | (813 | ) | |||||||||||
Cash and cash equivalents, beginning of period | — | 260,834 | 26,527 | 287,361 | |||||||||||||
| | | | | | | | | | | | | | ||||
Cash and cash equivalents, end of period | $ | — | $ | 257,280 | $ | 29,268 | $ | 286,548 | |||||||||
| | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | ||||
Quarterly_Financial_Informatio1
Quarterly Financial Information (unaudited) (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Quarterly Financial Information (unaudited) | ' | |||||||||||||
Summary of unaudited results for each quarter | ' | |||||||||||||
The following tables summarize unaudited results for each quarter in the years ended December 31, 2013 and 2012 (in thousands, except per share amounts). | ||||||||||||||
2013 | ||||||||||||||
For the quarter ended | ||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||
Holding: | ||||||||||||||
Net revenue | $ | 888,324 | $ | 899,255 | $ | 955,888 | $ | 984,845 | ||||||
Income from operations | 62,862 | 65,703 | 63,503 | 84,687 | ||||||||||
Net income (loss) | (3,847 | ) | 9,597 | (7,663 | ) | 13,408 | ||||||||
Net income (loss) attributable to Envision Healthcare Holdings, Inc. | (3,847 | ) | 9,597 | (7,663 | ) | 7,908 | ||||||||
Earnings (loss) per share attributable to Envision Healthcare Holdings, Inc.: | ||||||||||||||
Basic | (0.03 | ) | 0.07 | (0.05 | ) | 0.04 | ||||||||
Diluted | (0.03 | ) | 0.07 | (0.05 | ) | 0.04 | ||||||||
Corporation: | ||||||||||||||
Net revenue | $ | 888,324 | $ | 899,255 | $ | 955,888 | $ | 984,845 | ||||||
Income from operations | 62,929 | 65,724 | 63,488 | 84,687 | ||||||||||
Net income | 3,116 | 16,563 | 14,717 | 14,546 | ||||||||||
Net income attributable to Envision Healthcare Corporation | 3,116 | 16,563 | 14,717 | 9,046 | ||||||||||
2012 | ||||||||||||||
For the quarter ended | ||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||
Holding: | ||||||||||||||
Net revenue | $ | 806,294 | $ | 801,098 | $ | 820,811 | $ | 871,918 | ||||||
Income from operations | 52,496 | 60,256 | 68,624 | 75,366 | ||||||||||
Net income | 5,792 | 7,841 | 15,209 | 12,343 | ||||||||||
Net income attributable to Envision Healthcare Holdings, Inc. | 5,792 | 7,841 | 15,209 | 12,343 | ||||||||||
Earnings per share attributable to Envision Healthcare Holdings, Inc.: | ||||||||||||||
Basic | 0.04 | 0.06 | 0.12 | 0.09 | ||||||||||
Diluted | 0.04 | 0.06 | 0.11 | 0.09 | ||||||||||
Corporation: | ||||||||||||||
Net revenue | $ | 806,294 | $ | 801,098 | $ | 820,811 | $ | 871,918 | ||||||
Income from operations | 52,496 | 60,256 | 68,624 | 75,565 | ||||||||||
Net income | 5,792 | 7,841 | 15,209 | 19,617 | ||||||||||
Net income attributable to Envision Healthcare Corporation | 5,792 | 7,841 | 15,209 | 19,617 |
General_Details
General (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 29, 2013 | Aug. 13, 2013 |
Holding | Holding | |||
Basis of Presentation of Financial Statements | ' | ' | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 | ' | $0.01 |
Stock split ratio | ' | ' | 9.3 | ' |
Shares of common stock issued | ' | ' | 132,082,885 | ' |
Treasury shares issued | ' | ' | 504,197 | ' |
General_Details_2
General (Details 2) | 12 Months Ended |
Dec. 31, 2013 | |
item | |
General | ' |
Number of periods for which consolidated results of operations and cash flows are presented | 2 |
Number of separately managed business units | 2 |
EmCare | ' |
General | ' |
Number of contracts entered into by the entity | 706 |
Number of states in which the entity operates | 45 |
AMR | ' |
General | ' |
Number of states in which the entity operates | 40 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Cash and Cash Equivalents | ' | ' |
Bank overdrafts | $5,000,000 | $15,100,000 |
Trade and Other Accounts Receivable, net | ' | ' |
Accounts receivable, net | 801,146,000 | 625,144,000 |
Corporation | ' | ' |
Trade and Other Accounts Receivable, net | ' | ' |
Accounts receivable, net | 801,146,000 | 625,413,000 |
Holding | ' | ' |
Trade and Other Accounts Receivable, net | ' | ' |
Other receivables, net | ' | -269,000 |
Corporate | Corporation | ' | ' |
Trade and Other Accounts Receivable, net | ' | ' |
Accounts receivable, net | 1,011,000 | 897,000 |
EmCare | ' | ' |
Trade and Other Accounts Receivable, net | ' | ' |
Allowance for contractual discounts | 1,807,090,000 | 1,406,574,000 |
Allowance for uncompensated care | 868,590,000 | 657,297,000 |
Accounts receivable allowances | 2,675,680,000 | 2,063,871,000 |
EmCare | Corporation | ' | ' |
Trade and Other Accounts Receivable, net | ' | ' |
Accounts receivable, net | 558,195,000 | 375,572,000 |
AMR | ' | ' |
Trade and Other Accounts Receivable, net | ' | ' |
Allowance for contractual discounts | 195,614,000 | 212,914,000 |
Allowance for uncompensated care | 170,243,000 | 184,457,000 |
Accounts receivable allowances | 365,857,000 | 397,371,000 |
AMR | Corporation | ' | ' |
Trade and Other Accounts Receivable, net | ' | ' |
Accounts receivable, net | $241,940,000 | $248,944,000 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Details 2) | 12 Months Ended |
Dec. 31, 2013 | |
Buildings | Minimum | ' |
Property, plant and equipment, net | ' |
Estimated useful lives | '35 years |
Buildings | Maximum | ' |
Property, plant and equipment, net | ' |
Estimated useful lives | '40 years |
Vehicles | Minimum | ' |
Property, plant and equipment, net | ' |
Estimated useful lives | '5 years |
Vehicles | Maximum | ' |
Property, plant and equipment, net | ' |
Estimated useful lives | '7 years |
Computer hardware and software | Minimum | ' |
Property, plant and equipment, net | ' |
Estimated useful lives | '3 years |
Computer hardware and software | Maximum | ' |
Property, plant and equipment, net | ' |
Estimated useful lives | '5 years |
Other | Minimum | ' |
Property, plant and equipment, net | ' |
Estimated useful lives | '3 years |
Other | Maximum | ' |
Property, plant and equipment, net | ' |
Estimated useful lives | '10 years |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Details 3) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
item | |||
Goodwill and Other Indefinite Lived Intangibles | ' | ' | ' |
Number of reporting units | 3 | ' | ' |
Goodwill | $2,435,670,000 | $2,413,632,000 | $2,153,014,000 |
Impairment charges recorded | 0 | 0 | 0 |
EmCare | ' | ' | ' |
Goodwill and Other Indefinite Lived Intangibles | ' | ' | ' |
Number of reporting units | 2 | ' | ' |
Goodwill | 1,574,882,000 | 1,555,924,000 | ' |
AMR | ' | ' | ' |
Goodwill and Other Indefinite Lived Intangibles | ' | ' | ' |
Goodwill | $860,788,000 | $857,708,000 | ' |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies (Details 4) (Contract value) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum | ' |
Contract value | ' |
Useful life | '5 years |
Maximum | ' |
Contract value | ' |
Useful life | '10 years |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies (Details 5) (Net revenue, Customer concentration risk) | 12 Months Ended |
Dec. 31, 2013 | |
Medicare and Medicaid | ' |
Concentration of credit risk | ' |
Percentage of concentration risk | 27.00% |
Insurance providers and contracted payors | ' |
Concentration of credit risk | ' |
Percentage of concentration risk | 69.00% |
Patients | ' |
Concentration of credit risk | ' |
Percentage of concentration risk | 4.00% |
Summary_of_Significant_Account8
Summary of Significant Accounting Policies (Details 6) (Senior subordinated unsecured notes purchased by EVHC subsidiary, USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Financial Instruments | ' |
Estimated fair value of the senior subordinate notes | $657.10 |
Carrying value of the senior subordinate notes | 607.8 |
Captive insurance subsidiary | ' |
Financial Instruments | ' |
Carrying value of the senior subordinate notes | $9.80 |
Summary_of_Significant_Account9
Summary of Significant Accounting Policies (Details 7) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Revenue Recognition | ' | ' | ' |
Gross revenue (as a percent) | 100.00% | 100.00% | 100.00% |
Provision for contractual discounts (as a percent) | 56.00% | 55.10% | 54.10% |
Revenue net of contractual discounts (as a percent) | 44.00% | 44.90% | 45.90% |
Provision for uncompensated care as a percentage of gross revenue | 19.80% | 19.50% | 18.50% |
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 44.90% | 43.40% | 40.20% |
EmCare | ' | ' | ' |
Revenue Recognition | ' | ' | ' |
Gross revenue (as a percent) | 100.00% | 100.00% | 100.00% |
Provision for contractual discounts (as a percent) | 57.80% | 57.70% | 57.40% |
Revenue net of contractual discounts (as a percent) | 42.20% | 42.30% | 42.60% |
Provision for uncompensated care as a percentage of gross revenue | 21.60% | 21.20% | 20.00% |
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 51.10% | 50.10% | 46.90% |
AMR | ' | ' | ' |
Revenue Recognition | ' | ' | ' |
Gross revenue (as a percent) | 100.00% | 100.00% | 100.00% |
Provision for contractual discounts (as a percent) | 50.70% | 49.20% | 47.90% |
Revenue net of contractual discounts (as a percent) | 49.30% | 50.80% | 52.10% |
Provision for uncompensated care as a percentage of gross revenue | 14.70% | 15.60% | 15.60% |
Provision for uncompensated care as a percentage of gross revenue less contractual discounts | 29.70% | 30.70% | 30.00% |
Recovered_Sheet1
Summary of Significant Accounting Policies (Details 8) (USD $) | 3 Months Ended | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | ||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | 24-May-11 | 24-May-11 | 24-May-11 | 24-May-11 | |
Medicare | Medicare | Medicare | Medicaid | Medicaid | Medicaid | Commercial insurance and managed care | Commercial insurance and managed care | Commercial insurance and managed care | Self-pay | Self-pay | Self-pay | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | ||||||||||||
Medicare | Medicaid | Commercial insurance and managed care | Self-pay | |||||||||||||||||||||||||
Revenue Recognition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fee-for-service revenue, net of contractuals | ' | ' | ' | ' | ' | ' | ' | ' | $2,783,303,000 | $6,142,086,000 | $5,266,998,000 | $427,627,000 | $942,068,000 | $767,012,000 | $113,345,000 | $206,223,000 | $186,568,000 | $1,148,608,000 | $2,332,871,000 | $2,092,062,000 | $1,093,723,000 | $2,660,924,000 | $2,221,356,000 | $1,837,490,000 | $310,314,000 | $88,220,000 | $717,857,000 | $721,099,000 |
Subsidies and fees | ' | ' | ' | ' | ' | ' | ' | ' | 362,736,000 | 629,436,000 | 567,634,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215,821,000 | ' | ' | ' | ' |
Revenue, net of contractuals | ' | ' | ' | ' | ' | ' | ' | ' | 3,146,039,000 | 6,771,522,000 | 5,834,632,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,053,311,000 | ' | ' | ' | ' |
Provision for uncompensated care | ' | ' | ' | ' | ' | ' | ' | ' | -1,260,228,000 | -3,043,210,000 | -2,534,511,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -831,521,000 | ' | ' | ' | ' |
Net revenue | 984,845,000 | 955,888,000 | 899,255,000 | 888,324,000 | 871,918,000 | 820,811,000 | 801,098,000 | 806,294,000 | 1,885,811,000 | 3,728,312,000 | 3,300,121,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,221,790,000 | ' | ' | ' | ' |
Revenue Recognition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in contractual discount or uncompensated care provisions | ' | ' | ' | ' | ' | ' | ' | ' | ($15,000,000) | $1,000,000 | ($10,000,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($15,000,000) | ' | ' | ' | ' |
Recovered_Sheet2
Summary of Significant Accounting Policies (Details 9) (USD $) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2013 | |
Fair value measurement | ' | ' |
Transfers in assets from Level 1 to level 2 fair value measurements | ' | $0 |
Transfers in assets from Level 2 to level 1 fair value measurements | ' | 0 |
Transfers in liabilities from Level 1 to level 2 fair value measurements | ' | 0 |
Transfers in liabilities from Level 2 to level 1 fair value measurements | ' | 0 |
Level 1 | Securities (insurance collateral) | ' | ' |
Fair value measurement | ' | ' |
Assets | 22,870,000 | 12,710,000 |
Level 2 | Securities (insurance collateral) | ' | ' |
Fair value measurement | ' | ' |
Assets | 788,000 | 517,000 |
Level 2 | Fuel hedge | ' | ' |
Fair value measurement | ' | ' |
Assets | 631,000 | 672,000 |
Level 2 | Interest rate swap | ' | ' |
Fair value measurement | ' | ' |
Liabilities | 4,586,000 | 3,135,000 |
Level 3 | Contingent consideration | ' | ' |
Fair value measurement | ' | ' |
Liabilities | 4,401,000 | 7,734,000 |
Increase in a level 3 liability of the contingent consideration | 3,300,000 | ' |
Total | Securities (insurance collateral) | ' | ' |
Fair value measurement | ' | ' |
Assets | 23,658,000 | 13,227,000 |
Total | Fuel hedge | ' | ' |
Fair value measurement | ' | ' |
Assets | 631,000 | 672,000 |
Total | Contingent consideration | ' | ' |
Fair value measurement | ' | ' |
Liabilities | 4,401,000 | 7,734,000 |
Total | Interest rate swap | ' | ' |
Fair value measurement | ' | ' |
Liabilities | $4,586,000 | $3,135,000 |
Basic_and_Diluted_Net_Income_P2
Basic and Diluted Net Income Per Share (Details) (USD $) | 3 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | ||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 |
Holding | Holding | Predecessor | ||||||||||||
Basic and diluted net income per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $7,908 | ($7,663) | $9,597 | ($3,847) | $12,343 | $15,209 | $7,841 | $5,792 | $13,019 | $5,995 | $41,185 | $11,495 | $41,185 | $20,668 |
Weighted-average common shares outstanding - common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 129,469,067 | 150,156,216 | 130,228,970 | ' | ' | 411,757,044 |
Dilutive impact of stock awards outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 1,364 | 6,806 | 2,717 | ' | ' | 5,328 |
Diluted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 130,833,200 | 156,962,385 | 132,945,862 | ' | ' | 417,085,451 |
Earnings per share - common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic net income per share (in dollars per share) | $0.04 | ($0.05) | $0.07 | ($0.03) | $0.09 | $0.12 | $0.06 | $0.04 | $0.10 | $0.04 | $0.32 | ' | ' | $0.05 |
Diluted net income per share (in dollars per share) | $0.04 | ($0.05) | $0.07 | ($0.03) | $0.09 | $0.11 | $0.06 | $0.04 | $0.10 | $0.04 | $0.31 | ' | ' | $0.05 |
Stock awards of common stock outstanding excluded from the computations of diluted loss per share and weighted-average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Statements_of_Cash_Flows_Data_1
Statements of Cash Flows Data (Details) (USD $) | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | 24-May-11 |
Corporation | Corporation | Corporation | Predecessor | Predecessor | ||||
Corporation | ||||||||
Supplemental cash flow data | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid for interest | $83,922 | $198,098 | $154,984 | $83,922 | $157,125 | $154,984 | $7,533 | $7,533 |
Net cash paid (refunds received) for taxes | $9,537 | $13,351 | ($20,463) | $9,537 | $13,351 | ($20,463) | $5,366 | $5,366 |
Acquisitions_Details
Acquisitions (Details) (USD $) | 3 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 24-May-11 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 21, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | |
Predecessor | CMORx, LLC and Loya Medical Services, PLLC | CMORx, LLC | Guardian | Guardian | Guardian | Guardian | Guardian | APH and NightRays | NightRays | NightRays | St. Vincent / Golden State | Medics Ambulance | Acute Management, LLC | Entities acquired in 2011 | |||||||||||||
item | Purchase price allocation adjustments | Purchase price allocation adjustments | Purchase price allocation adjustments | Purchase price allocation adjustments | |||||||||||||||||||||||
Acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of related corporations which leverage the provision of non-emergency medical transportation services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total consideration of acquisitions paid in cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $179,200,000 | ' | ' | $34,200,000 | $159,000,000 | ' | ' | ' | ' | $33,800,000 | ' | ' | ' | ' | ' | ' |
Intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,500,000 | ' | ' | ' | 59,810,000 | 8,700,000 | 12,300,000 | ' | 4,300,000 | ' | 5,200,000 | 2,700,000 | 28,100,000 |
Net current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | 10,300,000 | ' | ' | ' | ' | ' | ' |
Contingent consideration payable for acquisitions made prior to December 31, 2013 | 7,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | 7,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of assets and liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 428,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,542,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Prepaid and other current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 379,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,792,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,500,000 | ' | ' | ' | 59,810,000 | 8,700,000 | 12,300,000 | ' | 4,300,000 | ' | 5,200,000 | 2,700,000 | 28,100,000 |
Goodwill | 2,435,670,000 | ' | ' | ' | 2,413,632,000 | ' | ' | ' | 2,153,014,000 | 2,435,670,000 | 2,413,632,000 | 2,153,014,000 | ' | ' | 26,200,000 | ' | ' | 78,500,000 | 111,256,000 | ' | 31,800,000 | 22,200,000 | ' | 3,700,000 | ' | ' | 128,800,000 |
Other long-term assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -729,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,204,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Current deferred tax liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15,108,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Federal tax liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,216,000 | -2,900,000 | ' | ' | ' | ' | ' | ' | ' |
Total purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 159,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenue | 84,687,000 | 63,503,000 | 65,703,000 | 62,862,000 | 75,366,000 | 68,624,000 | 60,256,000 | 52,496,000 | 127,932,000 | 276,755,000 | 256,742,000 | ' | 85,480,000 | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 7,908,000 | -7,663,000 | 9,597,000 | -3,847,000 | 12,343,000 | 15,209,000 | 7,841,000 | 5,792,000 | 13,019,000 | 5,995,000 | 41,185,000 | ' | 20,668,000 | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional disclosures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenue on pro forma basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,100,000 | 95,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income on pro forma basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,900,000 | 5,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total cost of acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,200,000,000 | ' | $183,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property_Plant_and_Equipment_n2
Property, Plant and Equipment, net (Details) (USD $) | 7 Months Ended | 12 Months Ended | 5 Months Ended | |||||||||||
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Predecessor | Land | Land | Building and leasehold improvements | Building and leasehold improvements | Vehicles | Vehicles | Computer hardware and software | Computer hardware and software | Communication and medical equipment and other | Communication and medical equipment and other | ||||
Property, plant and equipment, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | ' | $341,916,000 | $277,992,000 | ' | $5,013,000 | $5,013,000 | $22,526,000 | $20,529,000 | $146,700,000 | $117,376,000 | $67,754,000 | $57,920,000 | $99,923,000 | $77,154,000 |
Less: accumulated depreciation and amortization | ' | -147,201,000 | -86,128,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, net | ' | 194,715,000 | 191,864,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation expense | $30,900,000 | $63,900,000 | $56,500,000 | $17,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible_Assets_net_Details
Intangible Assets, net (Details) (USD $) | 7 Months Ended | 12 Months Ended | 5 Months Ended | |||||||
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Predecessor | Contract value | Contract value | Physician referral network | Physician referral network | Covenant not to compete | Covenant not to compete | ||||
Amortized intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Carrying Amount | ' | $654,631,000 | $630,189,000 | ' | $590,880,000 | $575,700,000 | $58,650,000 | $51,070,000 | $5,101,000 | $3,419,000 |
Accumulated Amortization | ' | -183,814,000 | -107,112,000 | ' | -173,975,000 | -105,672,000 | -7,515,000 | -196,000 | -2,324,000 | -1,244,000 |
Amortization expense | 39,900,000 | 76,700,000 | 67,200,000 | 11,900,000 | ' | ' | ' | ' | ' | ' |
Unamortized intangible assets, Carrying Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trade names | ' | 33,740,000 | 32,000,000 | ' | ' | ' | ' | ' | ' | ' |
Radio frequencies | ' | 901,000 | 901,000 | ' | ' | ' | ' | ' | ' | ' |
License | ' | 8,240,000 | 8,240,000 | ' | ' | ' | ' | ' | ' | ' |
Total | ' | 697,512,000 | 671,330,000 | ' | ' | ' | ' | ' | ' | ' |
Estimated annual amortization over each of the next five years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | ' | 77,251,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | ' | 77,027,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | ' | 70,119,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | ' | 65,317,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2018 | ' | $58,514,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible_Assets_net_Details_
Intangible Assets, net (Details 2) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2011 |
Changes in the carrying amount of goodwill | ' | ' |
Balance at beginning of period | $2,413,632 | $2,153,014 |
2013 Acquisitions | 26,175 | ' |
Adjustments | -4,137 | ' |
Balance at end of period | 2,435,670 | 2,153,014 |
EmCare | ' | ' |
Changes in the carrying amount of goodwill | ' | ' |
Balance at beginning of period | 1,555,924 | ' |
2013 Acquisitions | 9,018 | ' |
Adjustments | 9,940 | ' |
Balance at end of period | 1,574,882 | ' |
AMR | ' | ' |
Changes in the carrying amount of goodwill | ' | ' |
Balance at beginning of period | 857,708 | ' |
2013 Acquisitions | 17,157 | ' |
Adjustments | -14,077 | ' |
Balance at end of period | $860,788 | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Corporation | Corporation | Holding | |||
Current deferred tax assets (liabilities): | ' | ' | ' | ' | ' |
Accounts receivable | $1,611,000 | $43,000 | $43,000 | $1,611,000 | ' |
Accrual to cash | -89,609,000 | -48,850,000 | -48,850,000 | -89,609,000 | ' |
Accrued liabilities | 13,586,000 | 17,407,000 | 17,407,000 | 13,586,000 | ' |
Credit carryforwards | 693,000 | 381,000 | 381,000 | 693,000 | ' |
Net operating loss carryforwards | 38,232,000 | 7,451,000 | 7,451,000 | 17,920,000 | ' |
Net current deferred tax liabilities | -35,487,000 | -23,568,000 | -23,568,000 | -55,799,000 | ' |
Long-term deferred tax (liabilities) assets: | ' | ' | ' | ' | ' |
Intangible assets | -171,315,000 | -186,685,000 | -186,685,000 | -171,315,000 | ' |
Insurance and other long-term liabilities | 37,692,000 | 50,560,000 | 50,471,000 | 37,692,000 | ' |
Excess of tax over book depreciation | -40,729,000 | -43,975,000 | -43,975,000 | -40,729,000 | ' |
Net operating loss carryforwards | 27,895,000 | 31,653,000 | 31,653,000 | 27,767,000 | ' |
Credit carryforwards | 2,555,000 | 2,048,000 | 2,048,000 | 2,555,000 | ' |
Valuation allowance | -7,228,000 | -10,362,000 | -10,362,000 | -7,228,000 | ' |
Net long-term deferred tax liabilities | -151,130,000 | -156,761,000 | -156,850,000 | -151,258,000 | ' |
Net deferred tax liabilities | -186,617,000 | -180,329,000 | -180,418,000 | -207,057,000 | ' |
Increase in deferred tax liabilities, net | ' | ' | 26,600,000 | ' | 6,300,000 |
Decrease in valuation allowance | ($3,200,000) | ' | ' | ' | ' |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | Dec. 31, 2013 | 25-May-11 |
In Millions, unless otherwise specified | ||
Income Taxes | ' | ' |
Increase (decrease) in net operating loss carryforwards | $8.40 | ' |
Entities acquired in 2010 | ' | ' |
Income Taxes | ' | ' |
Net operating loss carryforwards | 31.2 | ' |
Net operating loss carryforwards, annual limitation on use | 2.7 | ' |
AMR | ' | ' |
Income Taxes | ' | ' |
Net operating loss carryforwards, annual limitation on use | 1.3 | ' |
Amount of net operating losses that expired due to the merger and were written off | ' | 2.2 |
Federal | Corporation | ' | ' |
Income Taxes | ' | ' |
Net operating loss carryforwards | 75.5 | ' |
Federal | Holding | ' | ' |
Income Taxes | ' | ' |
Net operating loss carryforwards | $133.50 | ' |
Income_Taxes_Details_3
Income Taxes (Details 3) (USD $) | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | ||||||
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | 24-May-11 | 24-May-11 | |
Maximum | Corporation | Corporation | Corporation | Predecessor | Predecessor | Predecessor | |||||
Maximum | Corporation | ||||||||||
Reconciliation of the beginning and ending amount of unrecognized tax benefits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at the beginning of the period | ' | $3,467,000 | $963,000 | $5,479,000 | ' | ' | ' | ' | $3,301,000 | ' | ' |
Additions for tax positions of prior years | 1,552,000 | 216,000 | 5,397,000 | ' | ' | ' | ' | ' | 2,178,000 | ' | ' |
Reductions for tax positions of prior years | -6,068,000 | ' | -1,896,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Reductions for tax positions due to lapse of statute of limitations | ' | -3,069,000 | -997,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at the end of the period | 963,000 | 614,000 | 3,467,000 | 5,479,000 | ' | ' | ' | ' | 5,479,000 | ' | ' |
Recognition of interest and penalties expense | ' | 200,000 | 700,000 | ' | 100,000 | ' | ' | ' | ' | 100,000 | ' |
Reversal of interest previously recognized | 300,000 | 500,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of penalties and interest included in unrecognized tax benefits | 100,000 | 200,000 | 500,000 | ' | ' | ' | ' | ' | 300,000 | ' | ' |
Current tax (benefit) expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State | 2,212,000 | 3,937,000 | 5,131,000 | ' | ' | 2,212,000 | 6,297,000 | 5,773,000 | 4,835,000 | ' | 4,835,000 |
Federal | -220,000 | -7,347,000 | 34,965,000 | ' | ' | -220,000 | -7,347,000 | 38,621,000 | 22,285,000 | ' | 22,285,000 |
Total | 1,992,000 | -3,410,000 | 40,096,000 | ' | ' | 1,992,000 | -1,050,000 | 44,394,000 | 27,120,000 | ' | 27,120,000 |
Deferred tax (benefit) expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State | -266,000 | -5,586,000 | 1,004,000 | ' | ' | -266,000 | -5,464,000 | 1,011,000 | -1,596,000 | ' | -1,596,000 |
Federal | 7,602,000 | 8,002,000 | -13,637,000 | ' | ' | 7,602,000 | 28,232,000 | -13,555,000 | -6,282,000 | ' | -6,282,000 |
Total | 7,336,000 | 2,416,000 | -12,633,000 | ' | ' | 7,336,000 | 22,768,000 | -12,544,000 | -7,878,000 | ' | -7,878,000 |
Total tax (benefit) expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State | 1,946,000 | -1,649,000 | 6,135,000 | ' | ' | 1,946,000 | 833,000 | 6,784,000 | 3,239,000 | ' | 3,239,000 |
Federal | 7,382,000 | 655,000 | 21,328,000 | ' | ' | 7,382,000 | 20,885,000 | 25,066,000 | 16,003,000 | ' | 16,003,000 |
Total | 9,328,000 | -994,000 | 27,463,000 | ' | ' | 9,328,000 | 21,718,000 | 31,850,000 | 19,242,000 | ' | 19,242,000 |
Reconciliation of the provision for income taxes at the federal statutory rate compared to the entity's effective tax rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax expense at the statutory rate | 7,725,000 | 3,562,000 | 23,895,000 | ' | ' | 7,725,000 | 24,618,000 | 27,976,000 | 13,969,000 | ' | 13,969,000 |
Increase in income taxes resulting from: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State taxes, net of federal | 1,450,000 | 1,834,000 | 4,218,000 | ' | ' | 1,450,000 | 3,489,000 | 4,524,000 | 2,730,000 | ' | 2,730,000 |
Tax settlements and filings | -331,000 | -2,853,000 | -638,000 | ' | ' | -331,000 | -2,853,000 | -638,000 | 40,000 | ' | 40,000 |
Buyout transaction costs | ' | ' | ' | ' | ' | ' | ' | ' | 4,606,000 | ' | 4,606,000 |
Tax credits | ' | -779,000 | ' | ' | ' | ' | -779,000 | ' | -806,000 | ' | -806,000 |
Dissenting shareholder settlement | ' | 3,203,000 | ' | ' | ' | ' | 3,203,000 | ' | ' | ' | ' |
Change in valuation allowance | ' | -3,126,000 | ' | ' | ' | ' | -3,126,000 | ' | ' | ' | ' |
State deferred rate change | ' | -1,161,000 | ' | ' | ' | ' | -1,161,000 | ' | ' | ' | ' |
Income attributable to noncontrolling interest | ' | -2,093,000 | ' | ' | ' | ' | -2,093,000 | ' | ' | ' | ' |
Other | 484,000 | 419,000 | -12,000 | ' | ' | 484,000 | 420,000 | -12,000 | -1,297,000 | ' | -1,297,000 |
Total | $9,328,000 | ($994,000) | $27,463,000 | ' | ' | $9,328,000 | $21,718,000 | $31,850,000 | $19,242,000 | ' | $19,242,000 |
Accrued_Liabilities_Details
Accrued Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Accrued liabilities | ' | ' | ' |
Current portion of self-insurance reserve | $73,738 | $49,224 | ' |
Accrued restructuring | 5,682 | 12,318 | 4,365 |
Total accrued liabilities | 350,936 | 388,935 | ' |
Corporation | ' | ' | ' |
Accrued liabilities | ' | ' | ' |
Accrued wages and benefits | 161,398 | 136,334 | ' |
Accrued paid time-off | 25,713 | 25,626 | ' |
Current portion of self-insurance reserve | 73,738 | 49,224 | ' |
Accrued restructuring | 5,682 | 12,318 | ' |
Current portion of compliance and legal | 2,000 | 3,711 | ' |
Accrued billing and collection fees | 2,954 | 4,945 | ' |
Accrued incentive compensation | 19,570 | 22,274 | ' |
Accrued interest | 6,898 | 7,889 | ' |
Accrued income taxes payable | 7,043 | 19,487 | ' |
Accrued dissenting shareholder settlement | ' | 41,826 | ' |
Other | 52,983 | 63,796 | ' |
Total accrued liabilities | 357,979 | 387,430 | ' |
Holding | ' | ' | ' |
Accrued liabilities | ' | ' | ' |
Accrued interest | ' | 10,406 | ' |
Accrued income taxes payable | -7,043 | -8,901 | ' |
Total accrued liabilities | ' | $1,536 | ' |
Debt_Details
Debt (Details) (USD $) | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 5 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 2 Months Ended | 0 Months Ended | 2 Months Ended | 0 Months Ended | 2 Months Ended | 0 Months Ended | 1 Months Ended | 2 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | 24-May-11 | 25-May-11 | Dec. 31, 2013 | Dec. 30, 2013 | Dec. 31, 2013 | Dec. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 30, 2013 | Jun. 30, 2012 | 25-May-11 | Dec. 31, 2012 | Dec. 31, 2013 | 25-May-11 | Feb. 07, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Feb. 07, 2013 | Feb. 06, 2013 | Feb. 07, 2013 | Feb. 07, 2013 | Feb. 06, 2013 | Feb. 07, 2013 | Feb. 06, 2013 | Feb. 07, 2013 | Feb. 06, 2013 | Dec. 31, 2013 | 25-May-11 | Feb. 27, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 26, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 26, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 26, 2013 | Feb. 26, 2013 | Feb. 26, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 27, 2013 | Feb. 06, 2013 | Feb. 26, 2013 | |
Corporation | Corporation | Corporation | Predecessor | Predecessor | Senior unsecured notes due 2019 | Senior unsecured notes due 2019 | Senior unsecured notes due 2019 | Senior unsecured notes due 2019 | Senior unsecured notes due 2019 | Senior unsecured notes due 2019 | Senior unsecured notes due 2019 | Senior unsecured notes due 2019 | Senior unsecured notes due 2019 | Senior unsecured notes due 2019 | Senior unsecured notes purchased by captive insurance subsidiary | Senior unsecured notes purchased by captive insurance subsidiary | Credit Facilities | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | Term Loan Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ABL Facility | ||||
Corporation | Corporation | Corporation | Captive insurance subsidiary | Period prior to June 1, 2014 | Period on and after June 1, 2014 and prior to June 1, 2015 | Period on or after June 1, 2015 and prior to June 1, 2016 | Period on or after June 1, 2016 and prior to June 1, 2017 | Period on or after June 1, 2017 | Corporation | Corporation | Corporation | Corporation | Corporation | Predecessor | Option one | Option one | Option one | Option two | Option two | Option two | Option two | Option two | Option two | Corporation | Corporation | Minimum | Maximum | Option one | Option one | Option one | Option one | Option one | Option one | Option one | Option one | Option one | Option one | Option one | Option two | Option two | Option two | Option two | Option two | Option two | Option two | Option two | Option two | Option two | Option two | Option two | Option two | ||||||||||||||||
Corporation | Corporation | Adjusted LIBOR rate | Corporation | Corporation | Overnight federal funds rate | Overnight federal funds rate | Adjusted LIBOR rate | LIBOR rate | Corporation | Corporation | Overnight federal funds rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Minimum | Maximum | Overnight federal funds rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | Adjusted LIBOR rate | LIBOR rate | LIBOR rate | |||||||||||||||||||||||||||||||||
Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Minimum | Minimum | Maximum | Maximum | Corporation | Corporation | |||||||||||||||||||||||||||||||||||||||
Average daily excess availability less than or equal to 33% of availability | Average daily excess availability greater than 33% but less than or equal to 66% of availability | Average daily excess availability greater than 66% of availability | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Average daily excess availability less than or equal to 33% of availability | Average daily excess availability greater than 33% but less than or equal to 66% of availability | Average daily excess availability greater than 66% of availability | Corporation | Corporation | Corporation | Corporation | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Average daily excess availability greater than 33% but less than or equal to 66% of availability | Average daily excess availability greater than 66% of availability | Average daily excess availability less than or equal to 33% of availability | Average daily excess availability greater than 33% but less than or equal to 66% of availability | Average daily excess availability greater than 33% but less than or equal to 66% of availability | Average daily excess availability greater than 66% of availability | Average daily excess availability less than or equal to 33% of availability | Average daily excess availability greater than 33% but less than or equal to 66% of availability | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-Term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issued | ' | ' | ' | ' | ' | ' | ' | ' | $950,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of debt held | ' | ' | ' | ' | 1,907,699,000 | 2,222,205,000 | ' | ' | ' | ' | ' | ' | 5,200,000 | ' | ' | ' | ' | ' | 9,800,000 | 15,000,000 | ' | ' | ' | ' | ' | 1,302,945,000 | 1,166,316,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debt redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 332,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption price (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of debt and capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on early debt extinguishment | ' | -68,379,000 | -8,307,000 | ' | -38,860,000 | -8,307,000 | -10,069,000 | -10,069,000 | ' | ' | ' | 38,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,300,000 | ' | ' | 100,000 | ' | ' | 10,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption price of debt instrument as a percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 106.09% | 104.06% | 102.03% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of aggregate principal amount of debt instrument that may be redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption price of debt instrument as a percentage of principal amount with proceeds of certain equity offerings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase price of debt instrument as a percentage of principal amount in the event of a change of control | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase price of debt instrument as a percentage of principal amount in the event of sale of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,800,000,000 | ' | ' | 1,440,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | 450,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reference rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.50% | ' | 2.00% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate margin (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 3.75% | ' | 2.00% | 2.75% | 0.50% | 0.50% | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | 0.50% | ' | 2.00% | 1.75% | 1.50% | 2.25% | ' | ' | 2.75% | ' | ' | 1.25% | 1.75% | 0.50% | 1.00% | 1.00% | 0.75% | 0.50% | ' | ' | ' | ' | ' | 1.00% |
Variable interest rate basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | ' | ' | ' | 'one-month LIBOR rate | 'one-month Term Loan LIBOR rate | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'one-month LIBOR rate | ' | ' | ' | ' | ' | ' | ' | 'one-month ABL LIBOR | ' |
Interest rate in the event of meeting specified consolidated first lien net leverage ratio (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | ' | ' | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated first lien net leverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.5 | ' | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average daily excess availability as a percentage of availability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.00% | 66.00% | ' | 33.00% | 66.00% | ' | ' | ' | ' | ' | ' | ' | 33.00% | 66.00% | 33.00% | 66.00% | ' | ' |
Commitment fee (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding debt | ' | 132,500,000 | 130,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 132,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 279,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period of average excess availability exceeding agreed upon thresholds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance expense related to amendments | $117,805,000 | $5,011,000 | $21,219,000 | $117,805,000 | $5,007,000 | $95,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Details_2
Debt (Details 2) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Aug. 30, 2013 | Oct. 02, 2012 | Dec. 31, 2013 | Oct. 01, 2012 | |
PIK Notes | PIK Notes | PIK Notes | PIK Notes | |||
Debt | ' | ' | ' | ' | ' | ' |
Face amount of debt | ' | ' | ' | ' | ' | $450,000,000 |
Cash interest (as a percent) | ' | ' | ' | 9.25% | ' | ' |
PIK interest (as a percent) | ' | ' | ' | 10.00% | ' | ' |
Redemption price of debt instrument as a percentage of principal amount | ' | ' | 102.75% | ' | ' | ' |
Repayments of debt and capital lease obligations | ' | ' | 17,200,000 | ' | ' | ' |
Loss on early debt extinguishment | ($68,379,000) | ($8,307,000) | ' | ' | $29,500,000 | ' |
Debt_Details_3
Debt (Details 3) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 30, 2013 | Jun. 30, 2012 |
Corporation | Corporation | Holding | Senior subordinated unsecured notes due 2019 | Senior subordinated unsecured notes due 2019 | Senior secured term loan due 2018 | Senior secured term loan due 2018 | Senior secured term loan due 2018 | ABL Facility | Notes due at various dates from 2014 to 2022 | Notes due at various dates from 2014 to 2022 | Notes due at various dates from 2014 to 2022 | Notes due at various dates from 2014 to 2022 | Capital lease obligations due at various dates from 2014 to 2018 | Capital lease obligations due at various dates from 2014 to 2018 | Senior PIK Toggle Notes due 2017 | Senior unsecured notes purchased by EMSC subsidiary | Senior unsecured notes purchased by EMSC subsidiary | |||
Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Holding | Corporation | Corporation | |||||||||
Long-Term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount on debt | ' | ' | ' | ' | ' | ' | ' | ' | ($4,217,000) | ($5,707,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt | ' | ' | 1,907,699,000 | 2,222,205,000 | ' | 607,750,000 | 935,000,000 | ' | 1,302,945,000 | 1,166,316,000 | 125,000,000 | ' | ' | 852,000 | 1,149,000 | 369,000 | 447,000 | ' | 9,800,000 | 15,000,000 |
Less current portion | -12,318,000 | -12,282,000 | -12,318,000 | -12,282,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt | 1,895,381,000 | 2,647,098,000 | 1,895,381,000 | 2,209,923,000 | 437,175,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 437,175,000 | ' | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate, minimum (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | 6.00% | ' | ' | ' | ' | ' | ' | ' |
Interest rate, maximum (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' |
Amount of certain fees paid by the entity | 4,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate amount of minimum payments required on long-term debt and capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | 13,784,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | 13,501,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | 13,930,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | 13,471,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2018 | 13,389,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Thereafter | 1,843,841,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total | $1,911,916,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Details) (USD $) | 7 Months Ended | 12 Months Ended | 5 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Fuel hedge | Fuel hedge | Fuel hedge | Fuel hedge | Fuel hedge | Fuel hedge | Interest rate swap agreements | Interest rate swap agreements | |
USDPerGallon | Predecessor | Minimum | Maximum | |||||
gal | ||||||||
Derivative Instruments and Hedging Activities | ' | ' | ' | ' | ' | ' | ' | ' |
Number of master agreements | ' | 1 | ' | ' | ' | ' | ' | ' |
Diesel fuel price (in dollars per gallon) | ' | ' | ' | ' | 3.63 | 4.02 | ' | ' |
Total gallons of diesel fuel | ' | 2,500,000 | ' | ' | ' | ' | ' | ' |
Gallons of diesel fuel as a percentage of total estimated annual usage | ' | 25.20% | ' | ' | ' | ' | ' | ' |
Fair value of derivative asset | ' | $0.70 | $0.60 | ' | ' | ' | ' | ' |
Period over which deferred gain (loss) is expected to be reclassified from accumulated comprehensive income | ' | '12 months | ' | ' | ' | ' | '12 months | ' |
Amount of deferred gain (loss) expected to be reclassified from accumulated comprehensive income | ' | 0.7 | ' | ' | ' | ' | -2.1 | ' |
Net receipts from the counterparty | ' | 0.5 | 1 | ' | ' | ' | ' | ' |
Notional amount of debt obligations | ' | ' | ' | ' | ' | ' | 400 | ' |
Effective rate of interest of debt (as a percent) | ' | ' | ' | ' | ' | ' | 4.49% | ' |
Minimum variable interest rate of debt (as a percent) | ' | ' | ' | ' | ' | ' | 1.00% | ' |
Fair value of derivative liability | ' | ' | ' | ' | ' | ' | 3.1 | 4.6 |
Net payments to the counterparty | $1.50 | ' | ' | $1 | ' | ' | $2 | $0.50 |
Changes_in_Accumulated_Other_C2
Changes in Accumulated Other Comprehensive Income by Component (Details) (USD $) | 7 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Changes in the company's AOCI by component, after tax | ' | ' | ' |
Balance at the beginning of the period | ' | ($213) | ($2,702) |
Other comprehensive income before reclassifications | ' | -1,330 | 2,409 |
Amounts reclassified from accumulated other comprehensive income | ' | 704 | 80 |
Total other comprehensive income (loss), net of tax | -2,702 | -626 | 2,489 |
Balance at the end of the period | -2,702 | -839 | -213 |
Unrealized holding gains on available-for-sale securities | ' | ' | ' |
Changes in the company's AOCI by component, after tax | ' | ' | ' |
Balance at the beginning of the period | ' | 1,591 | -1,460 |
Other comprehensive income before reclassifications | ' | -598 | 3,297 |
Amounts reclassified from accumulated other comprehensive income | ' | -294 | -246 |
Total other comprehensive income (loss), net of tax | ' | -892 | 3,051 |
Balance at the end of the period | ' | 699 | 1,591 |
Fuel hedge | Gains and losses on cash flow hedges | ' | ' | ' |
Changes in the company's AOCI by component, after tax | ' | ' | ' |
Balance at the beginning of the period | ' | 1,057 | -1,201 |
Other comprehensive income before reclassifications | ' | -396 | 1,619 |
Amounts reclassified from accumulated other comprehensive income | ' | -241 | 639 |
Total other comprehensive income (loss), net of tax | ' | -637 | 2,258 |
Balance at the end of the period | ' | 420 | 1,057 |
Interest rate swap | Gains and losses on cash flow hedges | ' | ' | ' |
Changes in the company's AOCI by component, after tax | ' | ' | ' |
Balance at the beginning of the period | ' | -2,861 | -41 |
Other comprehensive income before reclassifications | ' | -336 | -2,507 |
Amounts reclassified from accumulated other comprehensive income | ' | 1,239 | -313 |
Total other comprehensive income (loss), net of tax | ' | 903 | -2,820 |
Balance at the end of the period | ' | ($1,958) | ($2,861) |
Changes_in_Accumulated_Other_C3
Changes in Accumulated Other Comprehensive Income by Component (Details 2) (USD $) | 3 Months Ended | 7 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | $259,639 | $424,865 | $421,424 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 104,701 | 186,701 | 182,607 |
Realized (loss) gain on investments | ' | ' | ' | ' | ' | ' | ' | ' | 41 | 471 | 394 |
Income before income taxes and equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 22,071 | 10,178 | 68,269 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | -9,328 | 994 | -27,463 |
Net income | 7,908 | -7,663 | 9,597 | -3,847 | 12,343 | 15,209 | 7,841 | 5,792 | 13,019 | 5,995 | 41,185 |
Gains and losses on cash flow hedges | Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income before income taxes and equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,600 | 522 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 602 | -196 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | -998 | 326 |
Gains and losses on cash flow hedges | Fuel hedge | Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 386 | 1,024 |
Gains and losses on cash flow hedges | Interest rate swap | Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,986 | -502 |
Unrealized holding gains on available-for-sale securities | Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Realized (loss) gain on investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 471 | 394 |
Income before income taxes and equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | 471 | 394 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -177 | -148 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | $294 | $246 |
Equity_Details
Equity (Details) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | 25-May-11 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-11 | Dec. 31, 2013 | 31-May-11 | 31-May-11 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 19, 2013 | Aug. 13, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 19, 2013 | Aug. 13, 2013 | |
2019 Notes | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Corporation | Holding | Holding | Holding | Captive insurance subsidiary | CD&R | CD&R | CD&R | Initial public offering | Initial public offering | Holding | Holding | Holding | Holding | Holding | Holding | ||||
Stock options | Stock options | Restricted shares | Restricted stock units | 2019 Notes | 2019 Notes | Revolving credit facility | Revolving credit facility | 2019 Notes | Corporation | Holding | item | Senior PIK Toggle Notes due 2017 | CD&R | Underwriters overallotment option | Underwriters overallotment option | |||||||||||||
Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,300,000 | 42,000,000 | ' | ' | ' | ' | ' | 6,300,000 |
Issue price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $23 | ' | ' | ' | ' | ' | ' | $23 |
Aggregate offering price | $1,112,017,000 | $334,000 | ' | ' | $1,117,000 | $334,000 | ' | ' | ' | ' | ' | ' | ' | $1,110,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | $1,110,900,000 | ' | ' | ' | $1,025,900,000 | $1,110,900,000 |
Underwriters' discounts and commissions and offering expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85,000,000 |
Payment made in connection with the termination of a corporation consulting agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | 20,000,000 | ' | ' | ' | ' | ' | 20,000,000 | ' | ' |
Amount used to redeem or repay the debt outstanding | ' | ' | ' | 332,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | 479,600,000 | ' | ' | ' |
Amount of debt held | ' | ' | ' | ' | 1,907,699,000 | 2,222,205,000 | ' | ' | ' | ' | 607,750,000 | 935,000,000 | 125,000,000 | ' | ' | ' | 5,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount of notes redeemed | ' | ' | ' | 356,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of votes for each share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | 200,000,000 | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000,000 | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | 200,000,000 | 200,000,000 | ' | ' | ' | ' |
Cash to be received for outstanding shares of common stock (in dollars per share) | ' | ' | $6.88 | ' | $6.88 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price per share to determine cash payment (in dollars per share) | ' | ' | ' | ' | ' | ' | $6.88 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash to be received for stock awards (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $6.88 | $6.88 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 887,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate value of existing options rolled over to purchase common stock | ' | ' | ' | ' | ' | ' | ' | $28,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity_Details_2
Equity (Details 2) (USD $) | 7 Months Ended | 12 Months Ended | 5 Months Ended | ||
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 24-May-11 | |
Predecessor | |||||
Purchase price | ' | ' | ' | ' | ' |
Acquisition consideration | ' | $3,200,000,000 | ' | $183,200,000 | ' |
Capitalized issuance costs | ' | 150,000,000 | ' | ' | ' |
Debt issuance costs | ' | 109,000,000 | ' | ' | ' |
Equity contributions from the CD&R Affiliates and members of EMSC management | ' | 915,000,000 | ' | ' | ' |
Debt financing | ' | 2,400,000,000 | ' | ' | ' |
Merger and Other Related Costs | ' | ' | ' | ' | ' |
Merger related costs | 3,200,000 | ' | ' | ' | 29,800,000 |
Pretax charge related to accelerated vesting of all outstanding unvested stock options, restricted stock awards and restricted stock units | ' | ' | ' | ' | 12,400,000 |
Loss on early debt extinguishment | ' | ($68,379,000) | ($8,307,000) | ' | ($10,069,000) |
Restructuring_Details
Restructuring (Details) (USD $) | 7 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring Charges | ' | ' | ' |
Incurred | $6,483 | $5,669 | $14,086 |
Paid | ' | -12,335 | -6,663 |
Adjustment | ' | ' | 530 |
Accrued restructuring liability | 4,365 | 5,682 | 12,318 |
Corporation | ' | ' | ' |
Restructuring Charges | ' | ' | ' |
Incurred | 6,483 | 5,669 | 14,086 |
Accrued restructuring liability | ' | 5,682 | 12,318 |
Lease & Other Contract Termination Cost | AMR | ' | ' | ' |
Restructuring Charges | ' | ' | ' |
Incurred | ' | 1,876 | 5,901 |
Paid | ' | -6,989 | -1,929 |
Adjustment | ' | ' | 530 |
Accrued restructuring liability | 3,620 | 3,009 | 8,122 |
Lease & Other Contract Termination Cost | EmCare | ' | ' | ' |
Restructuring Charges | ' | ' | ' |
Paid | ' | ' | -94 |
Accrued restructuring liability | 94 | ' | ' |
Severance | Corporation | ' | ' | ' |
Restructuring Charges | ' | ' | ' |
Incurred | ' | 20 | 807 |
Paid | ' | -377 | -570 |
Accrued restructuring liability | 171 | 51 | 408 |
Severance | AMR | ' | ' | ' |
Restructuring Charges | ' | ' | ' |
Incurred | ' | 2,890 | 6,566 |
Paid | ' | -3,765 | -4,025 |
Accrued restructuring liability | 474 | 2,140 | 3,015 |
Severance | EmCare | ' | ' | ' |
Restructuring Charges | ' | ' | ' |
Incurred | ' | 913 | 812 |
Paid | ' | -1,204 | -45 |
Accrued restructuring liability | $6 | $482 | $773 |
Retirement_Plans_and_Employee_1
Retirement Plans and Employee Benefits (Details) (USD $) | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | |||||
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | 24-May-11 | 24-May-11 | |
item | Associated Physicians' Plan | Associated Physicians' Plan | Associated Physicians' Plan | Minimum | Maximum | Predecessor | Predecessor | |||
Associated Physicians' Plan | Associated Physicians' Plan | Associated Physicians' Plan | ||||||||
Retirement Plans and Employee Benefits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of 401(k) Plans | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum percentage of compensation which an employee may contribute under the 401(k) Plans | ' | 40.00% | ' | ' | ' | ' | 1.00% | 25.00% | ' | ' |
Maximum annual employee contribution | ' | $17,500,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Employer matching contribution (as a percent) | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum percentage of employee's eligible compensation for employer contribution match | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Employer contributions | $7,800,000 | $9,300,000 | $12,300,000 | $2,700,000 | $2,000,000 | $2,500,000 | ' | ' | $5,400,000 | $900,000 |
Percentage reduction in employee's annual compensation in exchange for employer contribution made to their retirement account | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' |
Equity_Based_Compensation_Deta
Equity Based Compensation (Details) (USD $) | 5 Months Ended | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||
24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2011 | Aug. 31, 2011 | Aug. 31, 2011 | Aug. 31, 2011 | Aug. 31, 2011 | Oct. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 19, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | RSUs | RSUs | RSUs | RSUs | RSUs | RSUs | Stock Compensation Plan | Stock Compensation Plan | Omnibus Incentive Plan | Omnibus Incentive Plan | Omnibus Incentive Plan | Omnibus Incentive Plan | Omnibus Incentive Plan | Omnibus Incentive Plan | Omnibus Incentive Plan | Omnibus Incentive Plan | |||||
Class A | Class A | Key management employees | Maximum | Maximum | Maximum | Non-employee directors | Non-employee directors | Non-employee directors | Non-employee directors | Non-employee directors | Non-employee directors | Stock options | Stock options | Holding | Holding | Minimum | Maximum | Performance based awards | Performance based awards | Non-performance based awards | Stock options | ||||||||
Market price of $6.88 per share | Market price of $8.60 per share | Market price of $5.41 per share | Market price of $7.85 per share | Market price of $26.03 per share | Market price of $35.52 per share | Key management employees | Maximum | item | Holding | Holding | Minimum | Holding | Maximum | ||||||||||||||||
Holding | Holding | ||||||||||||||||||||||||||||
Equity based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of Common Stock available for grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,614,307 | 16,708,289 | ' | ' | ' | ' | ' | ' |
Number of shares granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 276,480 | ' | ' | ' | 36,679 | 7,328 | 25,052 | 9,214 | 567 | 415 | ' | ' | ' | ' | 2,500,000 | ' | 0 | 1,500,000 | ' | ' |
Number of participants, to whom awards granted in calendar year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Fair market value of awards granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,000,000 | ' | ' | ' | ' |
Vesting period of awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' |
Term of awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | '10 years |
Strike price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.69 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Strike price before revision (in dollars per share) | ' | ' | ' | ' | ' | $6.88 | ' | ' | ' | $6.88 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.88 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation charges | 15,100,000 | 4,098,000 | 4,248,000 | 4,248,000 | 4,100,000 | 4,200,000 | 4,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefits realized from stock awards exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at beginning of year (in shares) | ' | ' | ' | ' | ' | ' | ' | 17,847,162 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | 590,198 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in shares) | ' | ' | ' | ' | ' | ' | ' | -1,786,485 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited (in shares) | ' | ' | ' | ' | ' | ' | ' | -328,727 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of year (in shares) | ' | ' | ' | ' | ' | ' | ' | 16,322,148 | 17,847,162 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of year (in shares) | ' | ' | ' | ' | ' | ' | ' | 11,115,129 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at beginning of year (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $3.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $8.66 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $1.78 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $3.84 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of year (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $3.70 | $3.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of year (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $3.44 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of year | ' | ' | ' | ' | ' | ' | ' | 519,325,000 | 36,801,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of year | ' | ' | ' | ' | ' | ' | ' | $356,593,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Remaining Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of year | ' | ' | ' | ' | ' | ' | ' | '6 years 7 months 6 days | '7 years 1 month 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of year | ' | ' | ' | ' | ' | ' | ' | '6 years 1 month 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.88 | $8.60 | $5.41 | $7.85 | $26.03 | $35.52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of awards vesting at the grant date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 188,880 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of awards vesting at the grant date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of awards that will vest ratably over the next five years | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity_Based_Compensation_Deta1
Equity Based Compensation (Details 2) (USD $) | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 12 Months Ended | 5 Months Ended | |||||||
24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 24-May-11 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | 24-May-11 | |
Predecessor | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Restricted Stock | RSUs | |||||
Predecessor | Maximum | Maximum | Minimum | Minimum | Predecessor | Predecessor | ||||||||||
Class A | ||||||||||||||||
Fair value assumptions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Volatility (as a percent) | ' | ' | ' | ' | ' | ' | ' | 30.00% | 30.00% | ' | 35.00% | ' | 30.00% | ' | ' | ' |
Risk free rate, minimum (as a percent) | ' | ' | ' | ' | ' | ' | 0.67% | 0.20% | ' | ' | ' | ' | ' | ' | ' | ' |
Risk free rate, maximum (as a percent) | ' | ' | ' | ' | ' | ' | 1.56% | 0.82% | ' | ' | ' | ' | ' | ' | ' | ' |
Risk free rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' |
Expected dividend yield (as a percent) | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' |
Expected term of options | ' | ' | ' | ' | ' | ' | '5 years | ' | '4 years 7 months 6 days | ' | ' | '5 years | ' | '2 years | ' | ' |
Weighted average fair value of the options granted (in dollars per share) | ' | ' | ' | ' | ' | ' | $2.44 | $0.96 | ' | ' | ' | ' | ' | ' | ' | ' |
Total intrinsic value of awards exercised | ' | ' | ' | ' | ' | ' | $9,400,000 | $2,500,000 | ' | $1,000,000 | ' | ' | ' | ' | ' | ' |
Unrecognized compensation expense | ' | ' | ' | ' | ' | ' | 8,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation charges | 15,100,000 | 4,098,000 | 4,248,000 | 4,248,000 | 15,112,000 | 4,100,000 | 4,200,000 | 4,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Equity-based compensation expense incurred due to the accelerated vesting of stock options | ' | ' | ' | ' | 11,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payroll tax expense | ' | ' | ' | ' | $700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market value used to compute cash distribution to option award holders on accelerated vesting (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.88 | ' |
Cash paid per share to the holders of the stock-based awards (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.88 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 7 Months Ended | 12 Months Ended | 5 Months Ended | |
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | |
Predecessor | ||||
Commitments and Contingencies | ' | ' | ' | ' |
Rental expense | $25,700,000 | $44,800,000 | $42,900,000 | $17,200,000 |
Capital Leases | ' | ' | ' | ' |
2014 | ' | 106,000 | ' | ' |
2015 | ' | 106,000 | ' | ' |
2016 | ' | 106,000 | ' | ' |
2017 | ' | 106,000 | ' | ' |
2018 | ' | 20,000 | ' | ' |
Total | ' | 444,000 | ' | ' |
Less imputed interest | ' | -75,000 | ' | ' |
Total capital lease obligations | ' | 369,000 | ' | ' |
Less current portion | ' | -76,000 | ' | ' |
Long-term capital lease obligations | ' | 293,000 | ' | ' |
Operating Leases & Other | ' | ' | ' | ' |
2014 | ' | 73,954,000 | ' | ' |
2015 | ' | 44,566,000 | ' | ' |
2016 | ' | 38,323,000 | ' | ' |
2017 | ' | 33,140,000 | ' | ' |
2018 | ' | 25,247,000 | ' | ' |
Thereafter | ' | 41,867,000 | ' | ' |
Total | ' | $257,097,000 | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details 2) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 23 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Apr. 15, 2013 | Dec. 31, 2013 | Mar. 10, 2010 | Sep. 12, 2006 | Sep. 30, 2006 | 31-May-11 | 20-May-11 | Dec. 31, 2013 | |
Merion Capital, L.P | Merion Capital, L.P | AMR | Violation of the federal anti-kickback statute | Violation of the federal anti-kickback statute | Subpoena from the DOJ | Subpoena from the DOJ | Subpoena from the OIG | |||
Predecessor | AMR | AMR | AMR | AMR | EmCare | |||||
item | Predecessor | Predecessor | Predecessor | item | ||||||
Commitments and Contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount paid for settlement | ' | ' | ' | ' | ' | $9,000,000 | ' | ' | ' | ' |
Term of CIA | ' | ' | ' | ' | ' | ' | '5 years | '5 years | ' | ' |
Settlement amount to resolve the claims | ' | ' | 52,100,000 | ' | ' | ' | ' | ' | 2,700,000 | ' |
Outstanding letters of credit | 132,500,000 | 130,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of dissenting shareholder settlement | 13,717,000 | ' | ' | 13,700,000 | ' | ' | ' | ' | ' | ' |
Payment of dissenting shareholder settlement | 38,336,000 | ' | ' | 38,300,000 | ' | ' | ' | ' | ' | ' |
Number of lawsuits purporting to be class actions filed | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' |
Legal settlement costs | ' | ' | ' | 8,400,000 | ' | ' | ' | ' | ' | ' |
Accrued interest included in reserve for unpaid merger consideration | ' | ' | ' | $1,900,000 | ' | ' | ' | ' | ' | ' |
Number of lawsuits, in which the Company is defendant | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | 0 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 12 Months Ended | ||
Dec. 31, 2013 | Apr. 02, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2013 | |
Holding | Corporation | Corporation | Corporation | Corporation | Corporation | CD&R | CD&R | CD&R | Onex subsidiary | Onex subsidiary | |
Predecessor | Predecessor | Corporation | |||||||||
Related party transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual fee | ' | ' | ' | ' | ' | ' | ' | $5,000,000 | ' | ' | ' |
Annual management fee | ' | ' | 3,014,000 | 23,109,000 | 5,000,000 | 399,000 | 3,000,000 | 23,100,000 | 5,000,000 | 400,000 | 1,000,000 |
Consulting expenses paid | ' | ' | ' | ' | ' | ' | ' | 40,000,000 | ' | ' | ' |
Out-of-pocket expenses paid | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | ' | ' | ' |
Payment made in connection with the termination of a consulting agreement | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' |
Dividend declared and paid | ' | 20,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
IPO proceeds distribution to subsidiary | $489,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable_Interest_Entities_Det
Variable Interest Entities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | EmCare | HCA-EmCare JV | HCA-EmCare JV | ||
Variable Interest Entities | ' | ' | ' | ' | ' |
Voting control (as a percent) | ' | ' | 50.00% | ' | ' |
Summary of the assets and liabilities which are included in the Company's consolidated financial statements | ' | ' | ' | ' | ' |
Current assets | $1,082,283 | $753,259 | ' | $88,479 | $31,142 |
Current liabilities | $451,329 | $478,694 | ' | $22,005 | $20,081 |
Insurance_Details
Insurance (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Insurance | ' | ' |
Discount rate for claims other than general liability claims (as a percent) | 1.50% | ' |
Non-health and welfare insurance reserves | ' | ' |
Accrued Liabilities | $73,738,000 | $49,224,000 |
Insurance reserves | 175,427,000 | 189,373,000 |
Total Liabilities | 249,165,000 | 238,597,000 |
Automobile | ' | ' |
Non-health and welfare insurance reserves | ' | ' |
Accrued Liabilities | 7,034,000 | 7,627,000 |
Insurance reserves | 5,779,000 | 6,619,000 |
Total Liabilities | 12,813,000 | 14,246,000 |
Workers compensation | ' | ' |
Non-health and welfare insurance reserves | ' | ' |
Accrued Liabilities | 21,876,000 | 20,970,000 |
Insurance reserves | 32,097,000 | 32,728,000 |
Total Liabilities | 53,973,000 | 53,698,000 |
General/Professional liability | ' | ' |
Non-health and welfare insurance reserves | ' | ' |
Accrued Liabilities | 44,828,000 | 20,627,000 |
Insurance reserves | 137,551,000 | 150,026,000 |
Total Liabilities | 182,379,000 | 170,653,000 |
Minimum | ' | ' |
Insurance | ' | ' |
Liability exposure in instances where third-party insurance coverage is obtained | 1,000,000 | ' |
Maximum | ' | ' |
Insurance | ' | ' |
Liability exposure in instances where third-party insurance coverage is obtained | $3,000,000 | ' |
Insurance_Details_2
Insurance (Details 2) (USD $) | 7 Months Ended | 12 Months Ended | 5 Months Ended | ||
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | 24-May-11 | |
Predecessor | |||||
Changes to the entity's estimated losses under self-insured programs | ' | ' | ' | ' | ' |
Balance at the beginning of the period | ' | $238,597,000 | $247,872,000 | $216,076,000 | $208,407,000 |
Expense for current period reserves | 51,144,000 | 74,501,000 | 77,003,000 | ' | 25,562,000 |
Unfavorable (favorable) changes to prior reserves | 11,308,000 | 9,141,000 | -2,480,000 | ' | 2,452,000 |
Changes in losses covered by commercial insurance programs | 10,785,000 | ' | -9,185,000 | ' | ' |
Payments for claims | -41,441,000 | -73,074,000 | -74,613,000 | ' | -31,045,000 |
Balance at the end of the period | 247,872,000 | 249,165,000 | 238,597,000 | 216,076,000 | 205,376,000 |
Discount factor | 7,875,000 | 8,418,000 | 8,485,000 | ' | 17,368,000 |
Undiscounted reserve, end of period | 255,747,000 | 257,583,000 | 247,082,000 | ' | 222,744,000 |
Expected future claim payments relating to non-health and welfare insurance reserves | ' | ' | ' | ' | ' |
2014 | ' | 73,738,000 | ' | ' | ' |
2015 | ' | 72,140,000 | ' | ' | ' |
2016 | ' | 47,735,000 | ' | ' | ' |
2017 | ' | 27,567,000 | ' | ' | ' |
2018 | ' | 14,559,000 | ' | ' | ' |
Thereafter | ' | 13,426,000 | ' | ' | ' |
Total | ' | 249,165,000 | ' | ' | ' |
Deposits and restricted investments | ' | ' | ' | ' | ' |
Restricted cash, cash equivalents and other | ' | 18,755,000 | 5,327,000 | ' | ' |
Restricted marketable securities | ' | 8,333,000 | 19,154,000 | ' | ' |
Other short-term insurance collateral | ' | 2,531,000 | ' | ' | ' |
Insurance collateral-short-term | ' | 29,619,000 | 24,481,000 | ' | ' |
Restricted long-term investments | ' | 4,894,000 | 4,504,000 | ' | ' |
Other long-term insurance collateral | ' | 7,822,000 | 16,256,000 | ' | ' |
Insurance collateral-long-term | ' | 12,716,000 | 20,760,000 | ' | ' |
Reinsurance receivable | ' | $1,300,000 | $1,600,000 | ' | ' |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 |
item | Predecessor | Segment | Segment | Segment | Segment | Segment | Segment | Segment | Segment | Segment | Segment | Segment | Segment | |||||||||||
Predecessor | Facility-based physician services | Facility-based physician services | Facility-based physician services | Facility-based physician services | Medical transportation services | Medical transportation services | Medical transportation services | Medical transportation services | ||||||||||||||||
Predecessor | Predecessor | |||||||||||||||||||||||
Segment Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of separately managed business units | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenue | $984,845 | $955,888 | $899,255 | $888,324 | $871,918 | $820,811 | $801,098 | $806,294 | $1,885,811 | $3,728,312 | $3,300,121 | $1,221,790 | $1,885,811 | $3,728,312 | $3,300,121 | $1,221,790 | $1,025,003 | $2,358,787 | $1,915,148 | $642,059 | $860,808 | $1,369,525 | $1,384,973 | $579,731 |
Income from operations | 84,687 | 63,503 | 65,703 | 62,862 | 75,366 | 68,624 | 60,256 | 52,496 | 127,932 | 276,755 | 256,742 | 85,480 | 127,932 | 276,828 | 256,941 | 85,480 | 103,532 | 219,842 | 199,300 | 60,710 | 24,400 | 56,986 | 57,641 | 24,770 |
Segment Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 214,789 | 445,778 | 404,651 | 130,582 | 214,789 | 445,778 | 404,651 | 130,582 | 141,374 | 294,033 | 260,657 | 77,686 | 73,415 | 151,745 | 143,994 | 52,896 |
Goodwill | 2,435,670 | ' | ' | ' | 2,413,632 | ' | ' | ' | 2,153,014 | 2,435,670 | 2,413,632 | ' | 2,153,014 | 2,435,670 | 2,413,632 | ' | 1,622,309 | 1,574,882 | 1,555,924 | ' | 530,705 | 860,788 | 857,708 | ' |
Intangible Assets, net | 513,698 | ' | ' | ' | 564,218 | ' | ' | ' | 564,227 | 513,698 | 564,218 | ' | 564,227 | 513,698 | 564,218 | ' | 398,284 | 370,897 | 407,184 | ' | 165,943 | 142,801 | 157,034 | ' |
Total identifiable assets | 4,300,017 | ' | ' | ' | 4,036,833 | ' | ' | ' | 3,778,496 | 4,300,017 | 4,036,833 | ' | 3,778,496 | 4,139,323 | 4,013,513 | ' | 2,459,724 | 2,624,161 | 2,468,605 | ' | 1,318,772 | 1,515,162 | 1,544,908 | ' |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | $46,351 | $65,879 | $60,215 | $18,496 | $44,223 | $59,664 | $54,917 | $17,489 | $1,512 | $8,215 | $12,229 | $1,543 | $42,711 | $51,449 | $42,688 | $15,946 |
Segment_Information_Details_2
Segment Information (Details 2) (USD $) | 3 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of Adjusted EBITDA to Net Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | $214,789 | $445,778 | $404,651 |
Depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -71,312 | -140,632 | -123,751 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,483 | 5,669 | 14,086 |
Equity-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 15,100 | 4,098 | 4,248 | 4,248 |
Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,500 | ' |
Income from operations | 84,687 | 63,503 | 65,703 | 62,862 | 75,366 | 68,624 | 60,256 | 52,496 | ' | 127,932 | 276,755 | 256,742 |
Interest income from restricted assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,950 | 792 | 625 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104,701 | 186,701 | 182,607 |
Realized gains (losses) on investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41 | 471 | 394 |
Interest and other (expense) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,151 | -12,760 | 1,422 |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -68,379 | -8,307 |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,328 | 994 | -27,463 |
Equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | 276 | 323 | 379 |
Net income | 13,408 | -7,663 | 9,597 | -3,847 | 12,343 | 15,209 | 7,841 | 5,792 | ' | 13,019 | 11,495 | 41,185 |
Predecessor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of Adjusted EBITDA to Net Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 130,582 | ' | ' | ' |
Depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | -28,467 | ' | ' | ' |
Equity-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 15,112 | ' | ' | ' |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 85,480 | ' | ' | ' |
Interest income from restricted assets | ' | ' | ' | ' | ' | ' | ' | ' | 1,124 | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 7,886 | ' | ' | ' |
Realized gains (losses) on investments | ' | ' | ' | ' | ' | ' | ' | ' | -9 | ' | ' | ' |
Interest and other (expense) income | ' | ' | ' | ' | ' | ' | ' | ' | -28,873 | ' | ' | ' |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | -10,069 | ' | ' | ' |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -19,242 | ' | ' | ' |
Equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 143 | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 20,668 | ' | ' | ' |
Corporation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of Adjusted EBITDA to Net Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | 214,789 | 445,778 | 404,651 |
Other operating income (expenses) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73 | 199 |
Depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -71,312 | -140,632 | -123,751 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,483 | 5,669 | 14,086 |
Interest income from restricted assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,950 | -792 | -625 |
Equity-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,098 | 4,248 | 4,248 |
Related party management fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,014 | -23,109 | -5,000 |
Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,500 | ' |
Income from operations | 84,687 | 63,488 | 65,724 | 62,929 | 75,565 | 68,624 | 60,256 | 52,496 | ' | 127,932 | 276,828 | 256,941 |
Interest income from restricted assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,950 | 792 | 625 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104,701 | 156,134 | 171,145 |
Realized gains (losses) on investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41 | 471 | 394 |
Interest and other (expense) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,151 | -12,760 | 1,422 |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -38,860 | -8,307 |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,328 | -21,718 | -31,850 |
Equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | 276 | 323 | 379 |
Net income | 14,546 | 14,717 | 16,563 | 3,116 | 19,617 | 15,209 | 7,841 | 5,792 | ' | 13,019 | 48,942 | 48,459 |
Corporation | Predecessor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of Adjusted EBITDA to Net Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 130,582 | ' | ' | ' |
Depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | -28,467 | ' | ' | ' |
Interest income from restricted assets | ' | ' | ' | ' | ' | ' | ' | ' | -1,124 | ' | ' | ' |
Equity-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 15,112 | ' | ' | ' |
Related party management fees | ' | ' | ' | ' | ' | ' | ' | ' | -399 | ' | ' | ' |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 85,480 | ' | ' | ' |
Interest income from restricted assets | ' | ' | ' | ' | ' | ' | ' | ' | 1,124 | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 7,886 | ' | ' | ' |
Realized gains (losses) on investments | ' | ' | ' | ' | ' | ' | ' | ' | -9 | ' | ' | ' |
Interest and other (expense) income | ' | ' | ' | ' | ' | ' | ' | ' | -28,873 | ' | ' | ' |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | -10,069 | ' | ' | ' |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -19,242 | ' | ' | ' |
Equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 143 | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 20,668 | ' | ' | ' |
Holding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of Adjusted EBITDA to Net Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | 214,789 | 445,705 | 404,452 |
Other operating income (expenses) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -73 | -199 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,567 | 11,462 |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -29,519 | ' |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,712 | 4,387 |
Equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,942 | 48,459 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,019 | 11,495 | 41,185 |
Holding | Predecessor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of Adjusted EBITDA to Net Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 130,582 | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | $20,668 | ' | ' | ' |
Segment_Information_Details_3
Segment Information (Details 3) (USD $) | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 |
Predecessor | Corporation | Corporation | Corporation | Corporation | Holding | Holding | Holding | Holding | ||||
Predecessor | Predecessor | |||||||||||
Reconciliation of Segment Adjusted EBITDA to cash flows provided by (used in) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Adjusted EBITDA | $214,789 | $445,778 | $404,651 | $130,582 | $214,789 | $445,778 | $404,651 | $130,582 | $214,789 | $445,705 | $404,452 | $130,582 |
Other operating income (expenses) | ' | ' | ' | ' | ' | 73 | 199 | ' | ' | -73 | -199 | ' |
Related party management fees | ' | ' | ' | ' | -3,014 | -23,109 | -5,000 | -399 | ' | ' | ' | ' |
Restructuring charges | -6,483 | -5,669 | -14,086 | ' | -6,483 | -5,669 | -14,086 | ' | ' | ' | ' | ' |
Interest expense (less deferred loan fee amortization) | ' | ' | ' | ' | -94,470 | -140,996 | -154,794 | -6,556 | ' | -27,750 | -10,407 | ' |
Payment of dissenting shareholder settlement | ' | -13,717 | ' | ' | ' | -13,717 | ' | ' | ' | ' | ' | ' |
Change in accounts receivable | -4,730 | -175,968 | -81,857 | -10,149 | -4,730 | -175,699 | -82,126 | -10,149 | ' | -269 | 269 | ' |
Change in other operating assets/liabilities | ' | ' | ' | ' | 25,146 | 6,224 | 66,377 | 14,234 | ' | -7,693 | 6,137 | ' |
Excess tax benefits from stock-based compensation | ' | -62 | -873 | -12,427 | ' | -62 | -873 | -12,427 | ' | ' | ' | ' |
Interest and other (expense) income | -3,151 | -12,760 | 1,422 | -28,873 | -3,151 | -12,760 | 1,422 | -28,873 | ' | ' | ' | ' |
Income tax benefit (expense), net of change in deferred taxes | ' | ' | ' | ' | -13,459 | 1,050 | 82 | -18,897 | ' | -2,360 | 4,387 | ' |
Net income attributable to noncontrolling interest | ' | 5,500 | ' | ' | ' | 5,500 | ' | ' | ' | ' | ' | ' |
Other | ' | ' | ' | ' | 193 | 1,000 | 595 | 460 | ' | ' | ' | ' |
Net cash provided by operating activities | $114,821 | $54,115 | $216,435 | $67,975 | $114,821 | $87,540 | $216,248 | $67,975 | ' | ($33,425) | $187 | ' |
Segment_Information_Details_4
Segment Information (Details 4) (USD $) | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Predecessor | Corporation | Corporation | Corporation | Corporation | Holding | Holding | Segment | Segment | Segment | Segment | Corporate | Corporate | Corporate | Corporate | Corporate | Corporate | Corporate | Corporate | ||||
Predecessor | Predecessor | Predecessor | Corporation | Corporation | Holding | Holding | ||||||||||||||||
Reconciliation of segment assets to total assets and segment capital expenditures to total capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total identifiable assets | $3,778,496 | $4,300,017 | $4,036,833 | ' | ' | $4,218,790 | $4,029,340 | ' | $1,594,839 | $976,985 | $3,778,496 | $4,139,323 | $4,013,513 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52,070 | -4,391 | 81,722 | 281 |
Other assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,397 | 20,218 | -495 | 7,212 |
Capital expenditures | $46,351 | $65,879 | $60,215 | $18,496 | $46,351 | $65,879 | $60,215 | $18,496 | ' | ' | $44,223 | $59,664 | $54,917 | $17,489 | $2,128 | $6,215 | $5,298 | $1,007 | ' | ' | ' | ' |
Segment_Information_Details_5
Segment Information (Details 5) (Collective Bargaining Agreements, AMR) | 12 Months Ended |
Dec. 31, 2013 | |
item | |
Employees currently in the process of negotiations or who will be subject to negotiation in 2014 | ' |
Collective Bargaining Agreements | ' |
Percentage of concentration risk | 44.00% |
Number of collective bargaining agreements | 37 |
Number of operational locations | 25 |
Number of employees subject to collective bargaining agreements | 4,795 |
Employees who will be subject to negotiations in 2015 | ' |
Collective Bargaining Agreements | ' |
Number of collective bargaining agreements | 6 |
Number of employees subject to collective bargaining agreements | 600 |
Valuation_and_Qualifying_Accou2
Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Contractual Discounts | ' | ' | ' |
Changes in valuation and qualifying accounts | ' | ' | ' |
Balance at the beginning of the period | $1,619,488 | $1,254,452 | ' |
Additions | 8,607,966 | 7,169,942 | 6,117,634 |
Reductions | -8,224,750 | -6,804,906 | -5,955,370 |
Balance at the end of the period | 2,002,704 | 1,619,488 | 1,254,452 |
Allowance for Contractual Discounts | Predecessor | ' | ' | ' |
Changes in valuation and qualifying accounts | ' | ' | ' |
Balance at the end of the period | ' | ' | 1,092,188 |
Allowance for Uncompensated Care | ' | ' | ' |
Changes in valuation and qualifying accounts | ' | ' | ' |
Balance at the beginning of the period | 841,754 | 655,419 | ' |
Additions | 3,043,210 | 2,534,511 | 2,091,750 |
Reductions | -2,846,131 | -2,348,176 | -2,065,750 |
Balance at the end of the period | 1,038,833 | 841,754 | 655,419 |
Allowance for Uncompensated Care | Predecessor | ' | ' | ' |
Changes in valuation and qualifying accounts | ' | ' | ' |
Balance at the end of the period | ' | ' | 629,419 |
Total Accounts Receivable Allowances | ' | ' | ' |
Changes in valuation and qualifying accounts | ' | ' | ' |
Balance at the beginning of the period | 2,461,242 | 1,909,871 | ' |
Additions | 11,651,176 | 9,704,453 | 8,209,384 |
Reductions | -11,070,881 | -9,153,082 | -8,021,120 |
Balance at the end of the period | 3,041,537 | 2,461,242 | 1,909,871 |
Total Accounts Receivable Allowances | Predecessor | ' | ' | ' |
Changes in valuation and qualifying accounts | ' | ' | ' |
Balance at the end of the period | ' | ' | $1,721,607 |
Guarantors_of_Debt_Details
Guarantors of Debt (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 24-May-11 |
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $204,712 | $57,832 | $134,023 | $286,548 |
Insurance collateral | 29,619 | 24,481 | ' | ' |
Trade and other accounts receivable, net | 801,146 | 625,144 | ' | ' |
Parts and supplies inventory | 23,376 | 22,050 | ' | ' |
Prepaids and other current assets | 23,430 | 23,752 | ' | ' |
Total current assets | 1,082,283 | 753,259 | ' | ' |
Non-current assets: | ' | ' | ' | ' |
Property, plant, and equipment, net | 194,715 | 191,864 | ' | ' |
Intangible assets, net | 513,698 | 564,218 | 564,227 | ' |
Insurance collateral | 12,716 | 20,760 | ' | ' |
Goodwill | 2,435,670 | 2,413,632 | 2,153,014 | ' |
Other long-term assets | 60,935 | 93,100 | ' | ' |
Total assets | 4,300,017 | 4,036,833 | 3,778,496 | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 52,588 | 53,909 | ' | ' |
Accrued liabilities | 350,936 | 388,935 | ' | ' |
Current deferred tax liabilities | 35,487 | 23,568 | ' | ' |
Current portion of long-term debt | 12,318 | 12,282 | ' | ' |
Total current liabilities | 451,329 | 478,694 | ' | ' |
Long-term debt | 1,895,381 | 2,647,098 | ' | ' |
Long-term deferred tax liabilities | 151,130 | 156,761 | ' | ' |
Insurance reserves | 175,427 | 189,373 | ' | ' |
Other long-term liabilities | 16,997 | 20,220 | ' | ' |
Total liabilities | 2,690,264 | 3,492,146 | ' | ' |
Equity: | ' | ' | ' | ' |
Common stock | 1,804 | 1,307 | ' | ' |
Treasury stock at cost | -1,347 | -381 | ' | ' |
Additional paid-in capital | 1,576,764 | 525,098 | ' | ' |
Retained earnings | 18,341 | 12,346 | ' | ' |
Accumulated other comprehensive loss | -839 | -213 | -2,702 | ' |
Total stockholders' equity | 1,594,723 | 538,157 | ' | ' |
Noncontrolling interest | 15,030 | 6,530 | ' | ' |
Total equity | 1,609,753 | 544,687 | 913,490 | ' |
Total liabilities and equity | 4,300,017 | 4,036,833 | ' | ' |
Total | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 122,990 | 57,551 | 134,023 | 286,548 |
Insurance collateral | 29,619 | 24,481 | ' | ' |
Trade and other accounts receivable, net | 801,146 | 625,413 | ' | ' |
Parts and supplies inventory | 23,376 | 22,050 | ' | ' |
Prepaids and other current assets | 23,925 | 23,514 | ' | ' |
Total current assets | 1,001,056 | 753,009 | ' | ' |
Non-current assets: | ' | ' | ' | ' |
Property, plant, and equipment, net | 194,715 | 191,864 | ' | ' |
Intangible assets, net | 513,698 | 564,218 | ' | ' |
Insurance collateral | 12,716 | 20,760 | ' | ' |
Goodwill | 2,435,670 | 2,413,632 | ' | ' |
Other long-term assets | 60,935 | 85,857 | ' | ' |
Total assets | 4,218,790 | 4,029,340 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 52,472 | 53,792 | ' | ' |
Accrued liabilities | 357,979 | 387,430 | ' | ' |
Current deferred tax liabilities | 55,799 | 23,568 | ' | ' |
Current portion of long-term debt | 12,318 | 12,282 | ' | ' |
Total current liabilities | 478,568 | 477,072 | ' | ' |
Long-term debt | 1,895,381 | 2,209,923 | ' | ' |
Long-term deferred tax liabilities | 151,258 | 156,850 | ' | ' |
Insurance reserves | 175,427 | 189,373 | ' | ' |
Other long-term liabilities | 16,997 | 20,220 | ' | ' |
Total liabilities | 2,717,631 | 3,053,438 | ' | ' |
Equity: | ' | ' | ' | ' |
Common stock | ' | ' | ' | ' |
Treasury stock at cost | -1,347 | -381 | ' | ' |
Additional paid-in capital | 1,404,208 | 908,488 | ' | ' |
Retained earnings | 84,107 | 61,478 | ' | ' |
Accumulated other comprehensive loss | -839 | -213 | ' | ' |
Total stockholders' equity | 1,486,129 | 969,372 | ' | ' |
Noncontrolling interest | 15,030 | 6,530 | ' | ' |
Total equity | 1,501,159 | 975,902 | 913,490 | ' |
Total liabilities and equity | 4,218,790 | 4,029,340 | ' | ' |
Corporation | ' | ' | ' | ' |
Non-current assets: | ' | ' | ' | ' |
Intercompany receivable | 1,914,158 | 2,237,508 | ' | ' |
Other long-term assets | 51,803 | 84,538 | ' | ' |
Investment and advances in subsidiaries | 1,450,081 | 930,119 | ' | ' |
Total assets | 3,416,042 | 3,252,165 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accrued liabilities | 13,683 | 47,184 | ' | ' |
Current portion of long-term debt | 11,872 | 11,871 | ' | ' |
Total current liabilities | 25,555 | 59,055 | ' | ' |
Long-term debt | 1,904,358 | 2,223,738 | ' | ' |
Total liabilities | 1,929,913 | 2,282,793 | ' | ' |
Equity: | ' | ' | ' | ' |
Treasury stock at cost | -1,347 | -381 | ' | ' |
Additional paid-in capital | 1,404,208 | 908,488 | ' | ' |
Retained earnings | 84,107 | 61,478 | ' | ' |
Accumulated other comprehensive loss | -839 | -213 | ' | ' |
Total stockholders' equity | 1,486,129 | 969,372 | ' | ' |
Total equity | 1,486,129 | 969,372 | ' | ' |
Total liabilities and equity | 3,416,042 | 3,252,165 | ' | ' |
Subsidiary Guarantors | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 65,516 | 6,924 | 104,657 | 257,280 |
Insurance collateral | 11,960 | 6,626 | ' | ' |
Trade and other accounts receivable, net | 799,021 | 623,651 | ' | ' |
Parts and supplies inventory | 23,367 | 22,041 | ' | ' |
Prepaids and other current assets | 23,692 | 23,679 | ' | ' |
Total current assets | 923,556 | 682,921 | ' | ' |
Non-current assets: | ' | ' | ' | ' |
Property, plant, and equipment, net | 194,715 | 191,864 | ' | ' |
Intangible assets, net | 513,698 | 564,218 | ' | ' |
Insurance collateral | 82,766 | 65,762 | ' | ' |
Goodwill | 2,438,526 | 2,416,613 | ' | ' |
Investment and advances in subsidiaries | 4,199 | 3,001 | ' | ' |
Total assets | 4,157,460 | 3,924,379 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 52,354 | 53,505 | ' | ' |
Accrued liabilities | 352,816 | 328,153 | ' | ' |
Current deferred tax liabilities | 39,002 | 27,015 | ' | ' |
Current portion of long-term debt | 446 | 411 | ' | ' |
Total current liabilities | 444,618 | 409,084 | ' | ' |
Long-term debt | 773 | 1,185 | ' | ' |
Long-term deferred tax liabilities | 156,378 | 159,942 | ' | ' |
Insurance reserves | 157,055 | 148,195 | ' | ' |
Other long-term liabilities | 16,997 | 20,220 | ' | ' |
Intercompany payable | 1,916,528 | 2,249,104 | ' | ' |
Total liabilities | 2,692,349 | 2,987,730 | ' | ' |
Equity: | ' | ' | ' | ' |
Additional paid-in capital | 1,366,151 | 871,306 | ' | ' |
Retained earnings | 85,524 | 59,206 | ' | ' |
Accumulated other comprehensive loss | -1,594 | -393 | ' | ' |
Total stockholders' equity | 1,450,081 | 930,119 | ' | ' |
Noncontrolling interest | 15,030 | 6,530 | ' | ' |
Total equity | 1,465,111 | 936,649 | ' | ' |
Total liabilities and equity | 4,157,460 | 3,924,379 | ' | ' |
Subsidiary Non-Guarantor | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 67,224 | 65,627 | 29,366 | 29,268 |
Insurance collateral | 53,587 | 35,975 | ' | ' |
Trade and other accounts receivable, net | 3,561 | 3,738 | ' | ' |
Parts and supplies inventory | 9 | 9 | ' | ' |
Prepaids and other current assets | 233 | 297 | ' | ' |
Current deferred tax assets | 3,515 | 3,447 | ' | ' |
Total current assets | 128,129 | 109,093 | ' | ' |
Non-current assets: | ' | ' | ' | ' |
Intercompany receivable | 2,370 | 11,596 | ' | ' |
Non-current deferred tax assets | 3,125 | 1,097 | ' | ' |
Insurance collateral | 12,716 | 5,491 | ' | ' |
Goodwill | 125 | ' | ' | ' |
Other long-term assets | 1,845 | 1,580 | ' | ' |
Investment and advances in subsidiaries | 4,617 | ' | ' | ' |
Total assets | 152,927 | 128,857 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 118 | 287 | ' | ' |
Accrued liabilities | 14,940 | 15,782 | ' | ' |
Total current liabilities | 15,058 | 16,069 | ' | ' |
Insurance reserves | 133,670 | 189,373 | ' | ' |
Total liabilities | 148,728 | 125,856 | ' | ' |
Equity: | ' | ' | ' | ' |
Common stock | 30 | 30 | ' | ' |
Retained earnings | 3,414 | 2,272 | ' | ' |
Accumulated other comprehensive loss | 755 | 699 | ' | ' |
Total stockholders' equity | 4,199 | 3,001 | ' | ' |
Total equity | 4,199 | 3,001 | ' | ' |
Total liabilities and equity | 152,927 | 128,857 | ' | ' |
Eliminations/Adjustments | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | -9,750 | -15,000 | ' | ' |
Insurance collateral | -35,928 | -18,120 | ' | ' |
Trade and other accounts receivable, net | -1,436 | -1,976 | ' | ' |
Prepaids and other current assets | ' | -462 | ' | ' |
Current deferred tax assets | -3,515 | -3,447 | ' | ' |
Total current assets | -50,629 | -39,005 | ' | ' |
Non-current assets: | ' | ' | ' | ' |
Intercompany receivable | -1,916,528 | -2,249,104 | ' | ' |
Non-current deferred tax assets | -3,125 | -1,097 | ' | ' |
Insurance collateral | -82,766 | -50,493 | ' | ' |
Goodwill | -2,981 | -2,981 | ' | ' |
Other long-term assets | 7,287 | -261 | ' | ' |
Investment and advances in subsidiaries | -1,458,897 | -933,120 | ' | ' |
Total assets | -3,507,639 | -3,276,061 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accrued liabilities | -23,460 | -3,689 | ' | ' |
Current deferred tax liabilities | 16,797 | -3,447 | ' | ' |
Total current liabilities | -6,663 | -7,136 | ' | ' |
Long-term debt | -9,750 | -15,000 | ' | ' |
Long-term deferred tax liabilities | -5,120 | -3,092 | ' | ' |
Insurance reserves | -115,298 | -68,609 | ' | ' |
Intercompany payable | -1,916,528 | -2,249,104 | ' | ' |
Total liabilities | -2,053,359 | -2,342,941 | ' | ' |
Equity: | ' | ' | ' | ' |
Common stock | -30 | -30 | ' | ' |
Additional paid-in capital | -1,366,151 | -871,306 | ' | ' |
Retained earnings | -88,938 | -61,478 | ' | ' |
Accumulated other comprehensive loss | 839 | -306 | ' | ' |
Total stockholders' equity | -1,454,280 | -933,120 | ' | ' |
Total equity | -1,454,280 | -933,120 | ' | ' |
Total liabilities and equity | ($3,507,639) | ($3,276,061) | ' | ' |
Guarantors_of_Debt_Details_2
Guarantors of Debt (Details 2) (USD $) | 3 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 3 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | ||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 |
Predecessor | Total | Total | Total | Total | Total | Total | Total | Total | Total | Total | Total | Total | Corporation | Corporation | Corporation | Corporation | Subsidiary Guarantors | Subsidiary Guarantors | Subsidiary Guarantors | Subsidiary Guarantors | Subsidiary Non-Guarantor | Subsidiary Non-Guarantor | Subsidiary Non-Guarantor | Subsidiary Non-Guarantor | Eliminations/Adjustments | Eliminations/Adjustments | Eliminations/Adjustments | Eliminations/Adjustments | ||||||||||||
Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | ||||||||||||||||||||||||||||||||||||
Consolidating Statements of Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenue | $984,845 | $955,888 | $899,255 | $888,324 | $871,918 | $820,811 | $801,098 | $806,294 | $1,885,811 | $3,728,312 | $3,300,121 | $1,221,790 | $984,845 | $955,888 | $899,255 | $888,324 | $871,918 | $820,811 | $801,098 | $806,294 | $1,885,811 | $3,728,312 | $3,300,121 | $1,221,790 | ' | ' | ' | ' | $1,884,615 | $3,726,378 | $3,298,221 | $1,221,024 | $56,182 | $57,494 | $75,501 | $20,709 | ($54,986) | ($55,560) | ($73,601) | ($19,943) |
Compensation and benefits | ' | ' | ' | ' | ' | ' | ' | ' | 1,311,060 | 2,667,439 | 2,307,628 | 874,633 | ' | ' | ' | ' | ' | ' | ' | ' | 1,311,060 | 2,667,439 | 2,307,628 | 874,633 | ' | ' | ' | ' | 1,310,584 | 2,666,761 | 2,306,975 | 874,135 | 476 | 678 | 653 | 498 | ' | ' | ' | ' |
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 259,639 | 424,865 | 421,424 | 156,740 | ' | ' | ' | ' | ' | ' | ' | ' | 259,639 | 424,795 | 421,424 | 156,740 | ' | ' | ' | ' | 259,620 | 424,768 | 421,406 | 156,734 | 19 | 27 | 18 | 6 | ' | ' | ' | ' |
Insurance expense | ' | ' | ' | ' | ' | ' | ' | ' | 65,030 | 106,293 | 97,950 | 47,229 | ' | ' | ' | ' | ' | ' | ' | ' | 65,030 | 106,293 | 97,950 | 47,229 | ' | ' | ' | ' | 63,738 | 106,261 | 91,288 | 48,471 | 56,278 | 55,592 | 80,263 | 18,701 | -54,986 | -55,560 | -73,601 | -19,943 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 44,355 | 106,659 | 78,540 | 29,241 | ' | ' | ' | ' | ' | ' | ' | ' | 44,355 | 106,656 | 78,341 | 29,241 | ' | ' | ' | ' | 44,060 | 106,573 | 78,305 | 28,801 | 295 | 83 | 36 | 440 | ' | ' | ' | ' |
Depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | 71,312 | 140,632 | 123,751 | 28,467 | ' | ' | ' | ' | ' | ' | ' | ' | 71,312 | 140,632 | 123,751 | 28,467 | ' | ' | ' | ' | 71,285 | 140,613 | 123,732 | 28,467 | 27 | 19 | 19 | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | 6,483 | 5,669 | 14,086 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,483 | 5,669 | 14,086 | ' | ' | ' | ' | ' | 6,483 | 5,669 | 14,086 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from operations | 84,687 | 63,503 | 65,703 | 62,862 | 75,366 | 68,624 | 60,256 | 52,496 | 127,932 | 276,755 | 256,742 | 85,480 | 84,687 | 63,488 | 65,724 | 62,929 | 75,565 | 68,624 | 60,256 | 52,496 | 127,932 | 276,828 | 256,941 | 85,480 | ' | ' | ' | ' | 128,845 | 275,733 | 262,429 | 84,416 | -913 | 1,095 | -5,488 | 1,064 | ' | ' | ' | ' |
Interest (loss) income from restricted assets | ' | ' | ' | ' | ' | ' | ' | ' | 1,950 | 792 | 625 | 1,124 | ' | ' | ' | ' | ' | ' | ' | ' | 1,950 | 792 | 625 | 1,124 | ' | ' | ' | ' | 934 | -6,526 | -4,290 | 364 | 1,016 | 7,318 | 4,915 | 760 | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -104,701 | -186,701 | -182,607 | -7,886 | ' | ' | ' | ' | ' | ' | ' | ' | -104,701 | -156,134 | -171,145 | -7,886 | ' | ' | ' | ' | -104,701 | -156,134 | -171,145 | -7,886 | ' | ' | ' | ' | ' | ' | ' | ' |
Realized (loss) gain on investments | ' | ' | ' | ' | ' | ' | ' | ' | 41 | 471 | 394 | -9 | ' | ' | ' | ' | ' | ' | ' | ' | 41 | 471 | 394 | -9 | ' | ' | ' | ' | ' | -122 | -1,302 | ' | 41 | 593 | 1,696 | -9 | ' | ' | ' | ' |
Interest and other (expense) income | ' | ' | ' | ' | ' | ' | ' | ' | -3,151 | -12,760 | 1,422 | -28,873 | ' | ' | ' | ' | ' | ' | ' | ' | -3,151 | -12,760 | 1,422 | -28,873 | ' | ' | ' | ' | -2,832 | -12,582 | 1,580 | -28,782 | -319 | -178 | -158 | -91 | ' | ' | ' | ' |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -68,379 | -8,307 | -10,069 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -38,860 | -8,307 | -10,069 | ' | ' | ' | ' | ' | -38,860 | -8,307 | -10,069 | ' | ' | ' | ' | ' | ' | ' | ' |
Income before income taxes and equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 22,071 | 10,178 | 68,269 | 39,767 | ' | ' | ' | ' | ' | ' | ' | ' | 22,071 | 70,337 | 79,930 | 39,767 | ' | ' | ' | ' | 22,246 | 61,509 | 78,965 | 38,043 | -175 | 8,828 | 965 | 1,724 | ' | ' | ' | ' |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -9,328 | 994 | -27,463 | -19,242 | ' | ' | ' | ' | ' | ' | ' | ' | -9,328 | -21,718 | -31,850 | -19,242 | ' | ' | ' | ' | -9,324 | -21,696 | -31,832 | -19,233 | -4 | -22 | -18 | -9 | ' | ' | ' | ' |
Income before equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 12,743 | 11,172 | 40,806 | 20,525 | ' | ' | ' | ' | ' | ' | ' | ' | 12,743 | 48,619 | 48,080 | 20,525 | ' | ' | ' | ' | 12,922 | 39,813 | 47,133 | 18,810 | -179 | 8,806 | 947 | 1,715 | ' | ' | ' | ' |
Equity in earnings of unconsolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 276 | 323 | 379 | 143 | ' | ' | ' | ' | ' | ' | ' | ' | 276 | 323 | 379 | 143 | 11,977 | 43,442 | ' | 20,668 | ' | ' | ' | ' | 276 | 323 | 379 | 143 | -11,977 | -43,442 | -48,459 | -20,668 |
Net income | 13,408 | -7,663 | 9,597 | -3,847 | 12,343 | 15,209 | 7,841 | 5,792 | 13,019 | 11,495 | 41,185 | 20,668 | 14,546 | 14,717 | 16,563 | 3,116 | 19,617 | 15,209 | 7,841 | 5,792 | 13,019 | 48,942 | 48,459 | 20,668 | 11,977 | 43,442 | 48,459 | 20,668 | 12,922 | 39,813 | 47,133 | 18,810 | 97 | 9,129 | 1,326 | 1,858 | -11,977 | -43,442 | -48,459 | -20,668 |
Less: Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,500 | ' | ' | ' | ' | ' | ' | ' | -5,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $7,908 | ($7,663) | $9,597 | ($3,847) | $12,343 | $15,209 | $7,841 | $5,792 | $13,019 | $5,995 | $41,185 | $20,668 | $9,046 | $14,717 | $16,563 | $3,116 | $19,617 | $15,209 | $7,841 | $5,792 | $13,019 | $43,442 | $48,459 | $20,668 | ' | $43,442 | $48,459 | ' | ' | $34,313 | ' | ' | ' | $9,129 | ' | ' | ' | ($43,442) | ' | ' |
Guarantors_of_Debt_Details_3
Guarantors of Debt (Details 3) (USD $) | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | 5 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | 24-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 | 24-May-11 |
Predecessor | Total | Total | Total | Total | Total | Corporation | Corporation | Corporation | Corporation | Subsidiary Guarantors | Subsidiary Guarantors | Subsidiary Guarantors | Subsidiary Guarantors | Subsidiary Guarantors | Subsidiary Non-guarantors | Subsidiary Non-guarantors | Subsidiary Non-guarantors | Subsidiary Non-guarantors | Subsidiary Non-guarantors | |||||
Predecessor | Predecessor | Predecessor | Predecessor | |||||||||||||||||||||
Cash Flows from Operating Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided by (used in) operating activities | $114,821 | $54,115 | $216,435 | ' | $67,975 | $114,821 | $87,540 | $216,248 | ' | $67,975 | ' | ' | ' | ' | $235,411 | $120,135 | $187,911 | ' | $73,707 | ($120,590) | ($32,595) | $28,337 | ' | ($5,732) |
Cash Flows from Investing Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Merger, net of cash received | -2,844,221 | ' | ' | ' | ' | -2,844,221 | ' | ' | ' | ' | -2,844,221 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchases of property, plant and equipment | -46,351 | -65,879 | -60,215 | ' | -18,496 | -46,351 | -65,879 | -60,215 | ' | -18,496 | ' | ' | ' | ' | -46,351 | -65,879 | -60,215 | ' | -18,496 | ' | ' | ' | ' | ' |
Proceeds from sale of property, plant and equipment | 216 | 744 | 7,220 | ' | 55 | 216 | 744 | 7,220 | ' | 55 | ' | ' | ' | ' | 216 | 744 | 7,220 | ' | 55 | ' | ' | ' | ' | ' |
Acquisition of businesses, net of cash received | -84,375 | -35,098 | -193,002 | ' | -94,870 | -84,375 | -35,098 | -193,002 | ' | -94,870 | ' | ' | ' | ' | -84,375 | -35,098 | -193,002 | ' | -94,870 | ' | ' | ' | ' | ' |
Net change in insurance collateral | 9,927 | 3,705 | 91,940 | ' | 23,036 | 9,927 | 3,705 | 91,940 | ' | 23,036 | ' | ' | ' | ' | 2,580 | -39,678 | 42,307 | ' | 14,510 | 7,347 | 43,383 | 49,633 | ' | 8,526 |
Other investing activities | -1,172 | -2,069 | 14 | ' | 816 | -1,172 | -2,069 | 14 | ' | 816 | ' | ' | ' | ' | -1,172 | -2,069 | 14 | ' | 816 | ' | ' | ' | ' | ' |
Net cash used in investing activities | -2,965,976 | -98,597 | -154,043 | ' | -89,459 | -2,965,976 | -98,597 | -154,043 | ' | -89,459 | -2,844,221 | ' | ' | ' | -129,102 | -141,980 | -203,676 | ' | -97,985 | 7,347 | 43,383 | 49,633 | ' | 8,526 |
Cash Flows from Financing Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of class A common stock | ' | 1,112,017 | 334 | ' | 559 | ' | 1,117 | 334 | ' | 559 | ' | 1,117 | 334 | 559 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings under the Term Loan | 1,440,000 | 150,000 | ' | ' | ' | 1,440,000 | 150,000 | ' | ' | ' | 1,440,000 | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings under the ABL Facility | ' | 345,440 | 130,000 | ' | ' | ' | 345,440 | 130,000 | ' | ' | ' | 345,440 | 130,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of senior notes | 950,000 | ' | 450,000 | ' | ' | 950,000 | ' | ' | ' | ' | 950,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from CD&R equity investment | 887,051 | ' | ' | ' | ' | 887,051 | ' | ' | ' | ' | 887,051 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital contributed by Parent | 4,978 | ' | ' | ' | ' | 4,978 | 489,326 | ' | ' | ' | 4,978 | 489,326 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of the Term Loan | -425,175 | -13,371 | -262,884 | ' | -5,312 | -425,175 | -13,371 | -262,884 | ' | -5,312 | -425,175 | -13,371 | -262,884 | ' | ' | ' | ' | ' | -5,312 | ' | ' | ' | ' | ' |
Equity issuance costs | -31,878 | -65,131 | ' | ' | ' | -31,878 | ' | ' | ' | ' | -31,878 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of the ABL Facility | ' | -470,440 | -5,000 | ' | ' | ' | -470,440 | -5,000 | ' | ' | ' | -470,440 | -5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of senior notes | ' | -777,250 | -15,000 | ' | ' | ' | -327,250 | -15,000 | ' | ' | ' | -327,250 | -15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment for debt extinguishment premiums | ' | -39,402 | ' | ' | ' | ' | -27,016 | ' | ' | ' | ' | -27,016 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend paid | ' | ' | -428,782 | ' | ' | ' | -20,813 | ' | ' | ' | ' | -20,813 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issue costs | -117,805 | -5,011 | -21,219 | ' | ' | -117,805 | -5,007 | -95 | ' | ' | -117,805 | -5,007 | -95 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess tax benefits from stock-based compensation | ' | 62 | 873 | ' | 12,427 | ' | 62 | 873 | ' | 12,427 | ' | ' | ' | ' | ' | 62 | 873 | ' | 12,427 | ' | ' | ' | ' | ' |
Class A common stock repurchased as treasury stock | ' | ' | -511 | ' | -2,440 | ' | ' | -511 | ' | -2,440 | ' | ' | -511 | -2,440 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from noncontrolling interest | ' | 3,000 | 6,530 | ' | ' | ' | 3,000 | 6,530 | ' | ' | ' | ' | ' | ' | ' | 3,000 | 6,530 | ' | ' | ' | ' | ' | ' | ' |
Payment of dissenting shareholder settlement | ' | -38,336 | ' | ' | ' | ' | -38,336 | ' | ' | ' | ' | ' | ' | ' | ' | -38,336 | ' | ' | ' | ' | ' | ' | ' | ' |
Net change in bank overdrafts | -6,944 | -10,146 | 7,808 | ' | 14,241 | -6,944 | -10,146 | 7,808 | ' | 14,241 | ' | ' | ' | ' | -6,944 | -10,146 | 7,808 | ' | 14,241 | ' | ' | ' | ' | ' |
Net intercompany borrowings (payments) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 138,647 | -121,986 | 153,888 | 1,881 | -251,988 | 125,926 | -97,178 | ' | -1,828 | 113,341 | -3,940 | -56,710 | ' | -53 |
Other financing activities | -1,597 | -70 | -732 | ' | 1,196 | -1,597 | -70 | -732 | ' | 1,196 | -1,597 | ' | -732 | ' | ' | -70 | ' | ' | 1,196 | ' | ' | ' | ' | ' |
Net cash provided by (used in) financing activities | 2,698,630 | 191,362 | -138,583 | ' | 20,671 | 2,698,630 | 76,496 | -138,677 | ' | 20,671 | 2,844,221 | ' | ' | ' | -258,932 | 80,436 | -81,967 | ' | 20,724 | 113,341 | -3,940 | -56,710 | ' | -53 |
Change in cash and cash equivalents | -152,525 | 146,880 | -76,191 | ' | -813 | -152,525 | 65,439 | -76,472 | ' | -813 | ' | ' | ' | ' | -152,623 | 58,591 | -97,732 | ' | -3,554 | 98 | 6,848 | 21,260 | ' | 2,741 |
Cash and cash equivalents, beginning of period | ' | 57,832 | 134,023 | 286,548 | 287,361 | ' | 57,551 | 134,023 | 286,548 | 287,361 | ' | ' | ' | ' | ' | 6,924 | 104,657 | 257,280 | 260,834 | ' | 65,627 | 29,366 | 29,268 | 26,527 |
Cash and cash equivalents, end of period | $134,023 | $204,712 | $57,832 | $286,548 | $286,548 | $134,023 | $122,990 | $57,551 | $286,548 | $286,548 | ' | ' | ' | ' | $104,657 | $65,516 | $6,924 | $257,280 | $257,280 | $29,366 | $67,224 | $65,627 | $29,268 | $29,268 |
Quarterly_Financial_Informatio2
Quarterly Financial Information (unaudited) (Details) (USD $) | 3 Months Ended | 7 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Net revenue | $984,845 | $955,888 | $899,255 | $888,324 | $871,918 | $820,811 | $801,098 | $806,294 | $1,885,811 | $3,728,312 | $3,300,121 |
Income from operations | 84,687 | 63,503 | 65,703 | 62,862 | 75,366 | 68,624 | 60,256 | 52,496 | 127,932 | 276,755 | 256,742 |
Net income | 13,408 | -7,663 | 9,597 | -3,847 | 12,343 | 15,209 | 7,841 | 5,792 | 13,019 | 11,495 | 41,185 |
Net income attributable to Envision Healthcare Holdings, Inc. | 7,908 | -7,663 | 9,597 | -3,847 | 12,343 | 15,209 | 7,841 | 5,792 | 13,019 | 5,995 | 41,185 |
Earnings (loss) per share attributable to Envision Healthcare Holdings, Inc.: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in dollars per share) | $0.04 | ($0.05) | $0.07 | ($0.03) | $0.09 | $0.12 | $0.06 | $0.04 | $0.10 | $0.04 | $0.32 |
Diluted (in dollars per share) | $0.04 | ($0.05) | $0.07 | ($0.03) | $0.09 | $0.11 | $0.06 | $0.04 | $0.10 | $0.04 | $0.31 |
Corporation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenue | 984,845 | 955,888 | 899,255 | 888,324 | 871,918 | 820,811 | 801,098 | 806,294 | 1,885,811 | 3,728,312 | 3,300,121 |
Income from operations | 84,687 | 63,488 | 65,724 | 62,929 | 75,565 | 68,624 | 60,256 | 52,496 | 127,932 | 276,828 | 256,941 |
Net income | 14,546 | 14,717 | 16,563 | 3,116 | 19,617 | 15,209 | 7,841 | 5,792 | 13,019 | 48,942 | 48,459 |
Net income attributable to Envision Healthcare Holdings, Inc. | $9,046 | $14,717 | $16,563 | $3,116 | $19,617 | $15,209 | $7,841 | $5,792 | $13,019 | $43,442 | $48,459 |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 12 Months Ended | 0 Months Ended | 0 Months Ended | ||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 05, 2014 | Dec. 31, 2013 | Feb. 06, 2014 | Feb. 05, 2014 |
Corporation | Corporation | Subsequent events | Subsequent events | Subsequent events | Subsequent events | ||||
Corporation | Underwriters overallotment option | ||||||||
Life Line Ambulance Service, Inc. | |||||||||
Subsequent events | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock issued | ' | ' | ' | ' | ' | 27,500,000 | ' | ' | 4,125,000 |
Issue price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $30.50 |
Common Stock outstanding upon completion of offering | 180,382,885 | ' | 130,661,627 | 1,000 | 1,000 | ' | 181,131,273 | ' | ' |
Acquisition consideration | $3,200 | $183.20 | ' | ' | ' | ' | ' | $22.20 | ' |
Schedule_1_Registrants_Condens1
Schedule 1 - Registrant's Condensed Financial Statements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 24-May-11 |
In Thousands, except Share data, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $204,712 | $57,832 | $134,023 | $286,548 |
Prepaids and other current assets | 23,430 | 23,752 | ' | ' |
Total current assets | 1,082,283 | 753,259 | ' | ' |
Non-current assets: | ' | ' | ' | ' |
Other long-term assets | 60,935 | 93,100 | ' | ' |
Total assets | 4,300,017 | 4,036,833 | 3,778,496 | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 52,588 | 53,909 | ' | ' |
Accrued liabilities | 350,936 | 388,935 | ' | ' |
Total current liabilities | 451,329 | 478,694 | ' | ' |
Long-term debt | 1,895,381 | 2,647,098 | ' | ' |
Total liabilities | 2,690,264 | 3,492,146 | ' | ' |
Equity: | ' | ' | ' | ' |
Common stock ($0.01 par value; 2,000,000,000 shares authorized, 180,382,885 and 130,661,627 issued and outstanding as of December 31, 2013 and 2012, respectively) | 1,804 | 1,307 | ' | ' |
Preferred stock ($0.01 par value; 200,000,000 shares authorized, none issued and outstanding at December 31, 2013 and 2012) | ' | ' | ' | ' |
Treasury stock at cost | -1,347 | -381 | ' | ' |
Additional paid-in capital | 1,576,764 | 525,098 | ' | ' |
Retained earnings | 18,341 | 12,346 | ' | ' |
Accumulated other comprehensive loss | -839 | -213 | -2,702 | ' |
Total stockholders' equity | 1,594,723 | 538,157 | ' | ' |
Total liabilities and equity | 4,300,017 | 4,036,833 | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 | ' | ' |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 | ' | ' |
Common stock, shares issued | 180,382,885 | 130,661,627 | ' | ' |
Common stock, shares outstanding | 180,382,885 | 130,661,627 | ' | ' |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ' | ' |
Preferred stock, shares authorized | 200,000,000 | 200,000,000 | ' | ' |
Preferred stock, shares issued | 0 | 0 | ' | ' |
Preferred stock, shares outstanding | 0 | 0 | ' | ' |
Holding | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 81,722 | 281 | ' | ' |
Prepaids and other current assets | 26,860 | ' | ' | ' |
Total current assets | 108,582 | 281 | ' | ' |
Non-current assets: | ' | ' | ' | ' |
Investment in wholly owned subsidiary | 1,486,129 | 969,372 | ' | ' |
Long-term deferred tax asset | 128 | 89 | ' | ' |
Other long-term assets | ' | 7,243 | ' | ' |
Total assets | 1,594,839 | 976,985 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 116 | 117 | ' | ' |
Accrued liabilities | ' | 1,536 | ' | ' |
Total current liabilities | 116 | 1,653 | ' | ' |
Long-term debt | ' | 437,175 | ' | ' |
Total liabilities | 116 | 438,828 | ' | ' |
Equity: | ' | ' | ' | ' |
Common stock ($0.01 par value; 2,000,000,000 shares authorized, 180,382,885 and 130,661,627 issued and outstanding as of December 31, 2013 and 2012, respectively) | 1,804 | 1,307 | ' | ' |
Preferred stock ($0.01 par value; 200,000,000 shares authorized, none issued and outstanding at December 31, 2013 and 2012) | ' | ' | ' | ' |
Treasury stock at cost | -1,347 | -381 | ' | ' |
Additional paid-in capital | 1,576,764 | 525,098 | ' | ' |
Retained earnings | 18,341 | 12,346 | ' | ' |
Accumulated other comprehensive loss | -839 | -213 | ' | ' |
Total stockholders' equity | 1,594,723 | 538,157 | ' | ' |
Total liabilities and equity | $1,594,839 | $976,985 | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 | ' | ' |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 | ' | ' |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ' | ' |
Preferred stock, shares authorized | 200,000,000 | 200,000,000 | ' | ' |
Preferred stock, shares issued | 0 | 0 | ' | ' |
Preferred stock, shares outstanding | 0 | 0 | ' | ' |
Schedule_1_Registrants_Condens2
Schedule 1 - Registrant's Condensed Financial Statements (Details 2) (USD $) | 3 Months Ended | 7 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Registrant's Condensed Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in net income of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ($276) | ($323) | ($379) |
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 259,639 | 424,865 | 421,424 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 44,355 | 106,659 | 78,540 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 104,701 | 186,701 | 182,607 |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -68,379 | -8,307 |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -9,328 | 994 | -27,463 |
Net income | 7,908 | -7,663 | 9,597 | -3,847 | 12,343 | 15,209 | 7,841 | 5,792 | 13,019 | 5,995 | 41,185 |
Other comprehensive income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -2,702 | -626 | 2,489 |
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | 10,317 | 10,869 | 43,674 |
Holding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Registrant's Condensed Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in net income of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | -48,942 | -48,459 |
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70 | ' |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 199 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,567 | 11,462 |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -29,519 | ' |
(Loss) Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -11,217 | 36,798 |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,712 | 4,387 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,495 | 41,185 |
Other comprehensive income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | -626 | 2,489 |
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10,869 | $43,674 |
Schedule_1_Registrants_Condens3
Schedule 1 - Registrant's Condensed Financial Statements (Details 3) (USD $) | 3 Months Ended | 7 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 24-May-11 |
Cash Flows from Operating Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $7,908 | ($7,663) | $9,597 | ($3,847) | $12,343 | $15,209 | $7,841 | $5,792 | $13,019 | $5,995 | $41,185 | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in net income of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | -276 | -323 | -379 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 81,539 | 158,588 | 141,015 | ' |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -68,379 | -8,307 | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -4,131 | 2,416 | 31,932 | ' |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 114,821 | 54,115 | 216,435 | ' |
Cash Flows from Investing Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -2,965,976 | -98,597 | -154,043 | ' |
Cash Flows from Financing Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of class A common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,112,017 | 334 | ' |
Proceeds from issuance of PIK Notes | ' | ' | ' | ' | ' | ' | ' | ' | 950,000 | ' | 450,000 | ' |
Repayments of PIK Notes and senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -777,250 | -15,000 | ' |
Payments for debt extinguishment premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | -39,402 | ' | ' |
Dividend paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 428,782 | ' |
Equity issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | -31,878 | -65,131 | ' | ' |
Debt issue costs | ' | ' | ' | ' | ' | ' | ' | ' | -117,805 | -5,011 | -21,219 | ' |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 2,698,630 | 191,362 | -138,583 | ' |
Change in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | -152,525 | 146,880 | -76,191 | ' |
Cash and cash equivalents, beginning of period | ' | ' | ' | 57,832 | ' | ' | ' | 134,023 | ' | 57,832 | 134,023 | 286,548 |
Cash and cash equivalents, end of period | 204,712 | ' | ' | ' | 57,832 | ' | ' | ' | 134,023 | 204,712 | 57,832 | 286,548 |
Holding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Flows from Operating Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,495 | 41,185 | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in net income of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | -48,942 | -48,459 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,817 | 1,056 | ' |
Loss on early debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -29,519 | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -25,184 | 4,841 | ' |
Changes in operating assets/liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,130 | 1,564 | ' |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -33,425 | 187 | ' |
Cash Flows from Financing Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of class A common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,110,900 | ' | ' |
Proceeds from issuance of PIK Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450,000 | ' |
Repayments of PIK Notes and senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -450,000 | ' | ' |
Payments for debt extinguishment premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | -12,386 | ' | ' |
Distribution to Corporation | ' | ' | ' | ' | ' | ' | ' | ' | ' | -489,326 | ' | ' |
Dividend received | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,813 | ' | ' |
Dividend paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 428,782 | ' |
Equity issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -65,131 | ' | ' |
Debt issue costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4 | -21,124 | ' |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 114,866 | 94 | ' |
Change in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | 81,441 | 281 | ' |
Cash and cash equivalents, beginning of period | ' | ' | ' | 281 | ' | ' | ' | ' | ' | 281 | ' | ' |
Cash and cash equivalents, end of period | $81,722 | ' | ' | ' | $281 | ' | ' | ' | ' | $81,722 | $281 | ' |
Schedule_1_Registrants_Condens4
Schedule 1 - Registrant's Condensed Financial Statements (Details 4) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Aug. 30, 2013 | Oct. 02, 2012 | Dec. 31, 2013 | Oct. 01, 2012 | Dec. 31, 2013 | |
PIK Notes | PIK Notes | PIK Notes | PIK Notes | Holding | |||
Registrant's Condensed Financial Statements | ' | ' | ' | ' | ' | ' | ' |
Face amount of debt | ' | ' | ' | ' | ' | $450,000,000 | ' |
Cash interest (as a percent) | ' | ' | ' | 9.25% | ' | ' | ' |
PIK interest (as a percent) | ' | ' | ' | 10.00% | ' | ' | ' |
Redemption price (as a percent) | ' | ' | 102.75% | ' | ' | ' | ' |
Repayments of debt and capital lease obligations | ' | ' | 17,200,000 | ' | ' | ' | ' |
Loss on early debt extinguishment | ($68,379,000) | ($8,307,000) | ' | ' | $29,500,000 | ' | ($29,519,000) |
Schedule_1_Registrants_Condens5
Schedule 1 - Registrant's Condensed Financial Statements (Details 5) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Aug. 19, 2013 | Aug. 13, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 19, 2013 | Aug. 13, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
CD&R | Initial public offering | Initial public offering | Holding | Holding | Holding | Holding | Holding | Holding | Holding | Holding | Holding | |||
item | Holding PIK Notes | CD&R | Underwriters overallotment option | Underwriters overallotment option | CD&R | |||||||||
Consolidating Statements of Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock issued | ' | ' | ' | 48,300,000 | 42,000,000 | ' | ' | ' | ' | ' | 6,300,000 | ' | ' | ' |
Issue price (in dollars per share) | ' | ' | ' | $23 | ' | ' | ' | ' | ' | ' | $23 | ' | ' | ' |
Aggregate offering price | $1,112,017,000 | $334,000 | ' | ' | ' | $1,110,900,000 | ' | ' | ' | $1,025,900,000 | $1,110,900,000 | $1,110,900,000 | ' | ' |
Underwriters' discounts and commissions and offering expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85,000,000 | ' | ' | ' |
Payment made in connection with the termination of a corporation consulting agreement | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | 20,000,000 |
Amount used to redeem or repay the debt outstanding | ' | ' | ' | ' | ' | ' | ' | $479,600,000 | ' | ' | ' | ' | ' | ' |
Number of votes for each share | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | 200,000,000 | 200,000,000 | ' | ' | ' | 200,000,000 | 200,000,000 | ' | ' | ' | ' | 200,000,000 | 200,000,000 | ' |
Schedule_1_Registrants_Condens6
Schedule 1 - Registrant's Condensed Financial Statements (Details 6) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 05, 2014 | Dec. 31, 2013 | Feb. 05, 2014 | Aug. 13, 2013 | Feb. 05, 2014 |
Subsequent events | Subsequent events | Subsequent events | Holding | Holding | |||
Underwriters overallotment option | Underwriters overallotment option | Subsequent events | |||||
Consolidating Statements of Operations | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock issued | ' | ' | 27,500,000 | ' | 4,125,000 | 6,300,000 | 27,500,000 |
Issue price (in dollars per share) | ' | ' | ' | ' | $30.50 | $23 | ' |
Common stock, shares outstanding | 180,382,885 | 130,661,627 | ' | 181,131,273 | ' | ' | 181,131,273 |