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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Net revenue:        
Managed care and other $ 821,699 $ 699,861 $ 1,551,039 $ 1,376,322
PBM and dispensing 597,440 464,484 1,173,723 905,045
Total net revenue 1,419,139 1,164,345 2,724,762 2,281,367
Costs and expenses:        
Cost of care 583,264 472,529 1,065,318 930,160
Cost of goods sold 562,355 436,930 1,104,988 852,389
Direct service costs and other operating expenses [1],[2],[3] 231,372 214,077 452,858 406,533
Depreciation and amortization 27,731 25,580 54,707 50,587
Interest expense 4,900 1,994 9,048 3,742
Interest and other income (1,071) (692) (2,020) (1,375)
Total costs and expenses 1,408,551 1,150,418 2,684,899 2,242,036
Income before income taxes 10,588 13,927 39,863 39,331
Provision for income taxes 5,661 12,615 17,467 24,628
Net income 4,927 1,312 22,396 14,703
Less: net income (loss) attributable to non-controlling interest (573) (2,646) (851) (2,492)
Net income attributable to Magellan $ 5,500 $ 3,958 $ 23,247 $ 17,195
Net income per common share attributable to Magellan:        
Basic (in dollars per share) $ 0.24 $ 0.17 $ 1.01 $ 0.73
Diluted (in dollars per share) $ 0.23 $ 0.16 $ 0.97 $ 0.70
[1] Includes changes in fair value of contingent consideration of $463 and $252 for the three months ended June 30, 2016 and 2017, respectively, and $197 and $203 for the six months ended June 30, 2016 and 2017, respectively.
[2] Includes impairment of intangible assets of $4,800 for the three and six months ended June 30, 2016.
[3] Includes stock compensation expense of $9,510 and $11,371 for the three months ended June 30, 2016 and 2017, respectively, and $18,397 and $21,511 for the six months ended June 30, 2016 and 2017, respectively