Pediatrix Medical Group Inc

For the period ended Mar 31, 2024. Filed May 7, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 7, 2024

MD$31.29-1.7%Stored close · as of Nov 6, 2026

See the whole filing, with its images and exhibits

Contents

Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (Unaudited)

Consolidated Balance Sheets

(in thousands, except share data)

	March 31, 2024	December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents	$7,998	$73,258
Short-term investments	107,473	104,485
Accounts receivable, net	283,749	272,313
Prepaid expenses	12,532	13,525
Income taxes receivable	5,193	7,565
Other current assets	9,578	12,308
Total current assets	426,523	483,454
Property and equipment, net	74,340	75,639
Goodwill	1,393,249	1,384,166
Intangible assets, net	18,759	21,240
Operating and finance lease right-of-use assets	70,278	70,294
Deferred income tax assets	101,942	102,852
Other assets	83,074	82,165
Total assets	$2,168,165	$2,219,810
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses	$207,035	$350,798
Current portion of debt and finance lease liabilities, net	16,409	14,913
Current portion of operating lease liabilities	21,034	21,076
Income taxes payable	2,804	2,159
Total current liabilities	247,282	388,946
Line of credit	80,000	—
Long-term debt and finance lease liabilities, net	613,347	618,421
Long-term operating lease liabilities	47,873	47,238
Long-term professional liabilities	255,870	251,284
Deferred income tax liabilities	34,105	34,308
Other liabilities	33,492	30,552
Total liabilities	1,311,969	1,370,749
Commitments and contingencies
Shareholders’ equity:
Preferred stock; $.01 par value; 1,000 shares authorized; none issued	—	—
Common stock; $.01 par value; 200,000 shares authorized; 84,008,436 and 84,018,023 shares issued and outstanding, respectively	840	840
Additional paid-in capital	1,002,946	999,906
Accumulated other comprehensive loss	(2,154)	(2,214)
Retained deficit	(145,436)	(149,471)
Total shareholders’ equity	856,196	849,061
Total liabilities and shareholders' equity	$2,168,165	$2,219,810

Consolidated Statements of Income and Comprehensive Income

(in thousands, except per share data)

	Three Months EndedMarch 31,
	2024	2023
Net revenue	$495,101	$491,008
Operating expenses:
Practice salaries and benefits	369,138	362,235
Practice supplies and other operating expenses	31,085	30,720
General and administrative expenses	60,198	59,059
Depreciation and amortization	10,308	8,953
Transformational and restructuring related expenses	8,480	—
Total operating expenses	479,209	460,967
Income from operations	15,892	30,041
Investment and other income	2,013	634
Interest expense	(10,599)	(10,390)
Equity in earnings of unconsolidated affiliate	518	427
Total non-operating expenses	(8,068)	(9,329)
Income before income taxes	7,824	20,712
Income tax provision	(3,789)	(6,506)
Net income	$4,035	$14,206
Other comprehensive income, net of tax
Unrealized holding gain on investments, net of tax of $20 and $227	60	604
Total comprehensive income	$4,095	$14,810
Per common and common equivalent share data:
Net income:
Basic	$0.05	$0.17
Diluted	$0.05	$0.17
Weighted average common shares:
Basic	82,863	81,894
Diluted	83,275	82,318

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.