XML 46 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business Acquisitions:
 3 Months Ended
Mar. 31, 2014
Business Combinations [Abstract]  
Business Acquisitions:
5. Business Acquisitions:

During the three months ended March 31, 2014, the Company completed the acquisition of three physician group practices for total cash consideration of $69.4 million. In connection with these acquisitions, the Company recorded goodwill of $63.8 million, other intangible assets consisting primarily of physician and hospital agreements of $5.8 million and other liabilities of $0.2 million. These acquisitions expanded the Company’s national network of physician practices. The Company expects that $50.3 million of the goodwill recorded during the three months ended March 31, 2014 will be deductible for tax purposes.

 

In addition, during the three months ended March 31, 2014, the Company paid $3.4 million for contingent consideration related to certain prior-period acquisitions, all of which was accrued for as of December 31, 2013.

During the three months ended March 31, 2013, the Company paid $1.7 million for contingent consideration related to certain prior-period acquisitions, all of which was accrued as of December 31, 2012. In connection with a prior-period acquisition, the Company also recorded other assets of $0.5 million during the three months ended March 31, 2013.

The following unaudited pro forma information combines the consolidated results of operations of the Company on a GAAP basis and the acquisitions completed during 2014 and 2013, including adjustments for pro forma amortization and interest expense, as if the transactions had occurred on January 1, 2013 and January 1, 2012, respectively (in thousands, except for per share data):

 

     Three Months Ended
March 31,		  
     2014      2013  

Net patient service revenue

    $ 571,272       $ 556,883   

Net income

    $ 64,011       $ 61,731   

Net income per common share:

      

Basic

    $ 0.65       $ 0.63   

Diluted

    $ 0.64       $ 0.61   

The pro forma results do not necessarily represent results which would have occurred if the acquisitions had taken place at the beginning of the periods, nor are they indicative of the results of future combined operations.