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Express Scripts Holding Co. (NASDAQ:ESRX)

This company has been moved to the archive! The financial data has not been updated since October 31, 2018.

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Express Scripts Holding Co., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

Microsoft Excel
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
Claims and rebates payable 10,190,200 9,891,500 9,969,400 10,188,500 9,483,500 9,081,100 8,786,300 8,836,900 8,717,100 8,635,900 8,956,400 9,397,700 8,738,600 8,213,600 7,928,300 8,488,200 7,815,000 7,569,000 6,348,900 6,767,800 6,459,700 5,823,400 6,645,700
Accounts payable 4,412,900 4,793,500 3,957,400 3,755,700 4,377,900 4,383,600 3,658,000 3,875,700 3,791,100 4,197,300 3,681,800 3,451,800 3,273,000 3,322,700 3,038,500 3,137,300 2,971,500 2,959,300 2,830,400 2,900,000 2,573,400 2,639,300 2,573,700
Accrued expenses 2,067,000 2,368,600 2,710,700 2,869,300 2,314,300 2,163,300 2,976,100 2,993,200 2,286,300 2,162,400 2,390,100 2,659,400 2,353,000 2,182,800 2,326,300 2,836,100 1,890,600 1,517,800 1,760,400 1,982,200 1,496,700 1,403,100 1,535,400
Short-term debt and current maturities of long-term debt 2,021,300 1,533,100 85,600 1,032,900 1,181,100 1,151,300 1,621,300 722,300 1,184,000 4,140,900 2,208,600 1,646,400 1,649,200 2,149,700 1,607,100 2,555,300 3,245,400 3,938,300 2,635,200 1,584,000 631,600 631,600 631,600
Current liabilities of discontinued operations — — — — — — — — — — — — — — — — — — — 1,300 64,800 120,900 137,700
Current liabilities 18,691,400 18,586,700 16,723,100 17,846,400 17,356,800 16,779,300 17,041,700 16,428,100 15,978,500 19,136,500 17,236,900 17,155,300 16,013,800 15,868,800 14,900,200 17,016,900 15,922,500 15,984,400 13,574,900 13,235,300 11,226,200 10,618,300 11,524,100
Long-term debt, excluding current maturities 12,974,200 13,457,600 14,900,500 14,981,500 13,726,700 13,835,200 13,906,200 14,846,000 14,924,500 11,842,600 14,382,700 13,946,300 14,037,700 14,583,900 10,741,200 11,012,700 11,442,000 12,165,500 11,145,100 12,363,000 13,482,000 13,648,500 13,815,100
Deferred taxes 2,347,800 2,426,600 2,496,500 2,562,400 3,401,900 3,471,200 3,537,300 3,603,300 3,734,800 3,857,100 3,957,000 4,069,800 4,621,800 4,761,700 4,846,100 4,923,200 5,209,500 5,351,400 5,470,800 5,440,600 5,589,000 5,662,000 5,783,600
Other liabilities 855,400 831,600 837,400 740,200 798,500 677,600 641,200 623,700 662,500 611,600 681,800 691,400 777,000 822,400 802,900 782,100 696,900 673,900 671,000 664,400 746,300 734,200 775,800
Noncurrent liabilities of discontinued operations — — — — — — — — — — — — — — — — — — — 100 400 41,800 59,600
Noncurrent liabilities 16,177,400 16,715,800 18,234,400 18,284,100 17,927,100 17,984,000 18,084,700 19,073,000 19,321,800 16,311,300 19,021,500 18,707,500 19,436,500 20,168,000 16,390,200 16,718,000 17,348,400 18,190,800 17,286,900 18,468,100 19,817,700 20,086,500 20,434,100
Total liabilities 34,868,800 35,302,500 34,957,500 36,130,500 35,283,900 34,763,300 35,126,400 35,501,100 35,300,300 35,447,800 36,258,400 35,862,800 35,450,300 36,036,800 31,290,400 33,734,900 33,270,900 34,175,200 30,861,800 31,703,400 31,043,900 30,704,800 31,958,200
Preferred stock, $0.01 par value per share; no shares issued and outstanding — — — — — — — — — — — — — — — — — — — — — — —
Common stock, $0.01 par value 8,700 8,700 8,700 8,600 8,600 8,600 8,600 8,600 8,600 8,600 8,600 8,500 8,500 8,500 8,500 8,500 8,500 8,400 8,400 8,300 8,300 8,200 8,200
Additional paid-in capital 23,826,800 23,704,000 23,651,500 23,537,800 23,486,100 23,446,800 23,275,300 23,233,600 23,175,700 22,567,200 22,514,700 22,204,700 22,140,400 22,078,700 22,788,900 22,671,400 22,532,300 22,389,400 22,138,900 21,809,900 21,820,200 21,662,200 21,451,600
Accumulated other comprehensive income (loss) (6,500) (8,000) (5,700) (2,900) (3,900) (7,600) (11,100) (12,300) (9,600) (7,900) (7,700) (14,000) (10,700) (3,400) (5,900) 2,100 7,000 12,900 9,400 11,700 15,400 12,900 16,800
Retained earnings 18,890,700 17,819,100 16,941,800 16,318,600 13,991,000 13,149,300 12,347,500 11,801,200 10,366,500 9,643,600 8,922,900 8,396,800 7,623,300 6,961,600 6,361,500 5,920,400 5,338,600 4,756,300 4,241,100 3,912,800 3,410,900 2,984,200 2,441,200
Common stock in treasury at cost (22,153,800) (22,153,800) (22,153,800) (21,742,500) (21,565,300) (20,852,500) (19,697,700) (18,795,100) (17,940,900) (16,808,400) (16,597,400) (13,223,200) (13,223,200) (13,223,200) (8,548,200) (8,548,200) (7,728,700) (6,715,100) (4,523,500) (3,905,300) (1,552,500) (801,000) (300,000)
Total Express Scripts stockholders’ equity 20,565,900 19,370,000 18,442,500 18,119,600 15,916,500 15,744,600 15,922,600 16,236,000 15,600,300 15,403,100 14,841,100 17,372,800 16,538,300 15,822,200 20,604,800 20,054,200 20,157,700 20,451,900 21,874,300 21,837,400 23,702,300 23,866,500 23,617,800
Non-controlling interest 6,900 5,300 5,600 5,700 5,800 5,500 7,000 7,800 8,700 7,700 8,100 7,700 7,900 8,800 9,900 9,800 10,600 6,700 11,000 7,400 16,800 10,200 9,700
Total stockholders’ equity 20,572,800 19,375,300 18,448,100 18,125,300 15,922,300 15,750,100 15,929,600 16,243,800 15,609,000 15,410,800 14,849,200 17,380,500 16,546,200 15,831,000 20,614,700 20,064,000 20,168,300 20,458,600 21,885,300 21,844,800 23,719,100 23,876,700 23,627,500
Total liabilities and stockholders’ equity 55,441,600 54,677,800 53,405,600 54,255,800 51,206,200 50,513,400 51,056,000 51,744,900 50,909,300 50,858,600 51,107,600 53,243,300 51,996,500 51,867,800 51,905,100 53,798,900 53,439,200 54,633,800 52,747,100 53,548,200 54,763,000 54,581,500 55,585,700

Based on: 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).

The balance sheet exhibits a period of significant structural evolution in capital allocation and liability management between March 2013 and September 2018. While total liabilities and stockholders' equity remained relatively stable, fluctuating between approximately 50 billion and 55 billion US dollars, the internal composition of these accounts shifted markedly.

Current Liability Trends
Current liabilities demonstrated a consistent upward trajectory, increasing from 11.5 billion US dollars in March 2013 to 18.7 billion US dollars by September 2018. This growth was primarily driven by a steady increase in claims and rebates payable, which rose from 6.6 billion US dollars to over 10.1 billion US dollars over the analyzed period. Accounts payable also saw a general increase, though with more volatility, peaking in June 2018 at 4.8 billion US dollars.
Long-term Debt and Noncurrent Liabilities
Noncurrent liabilities showed more volatility than current obligations. Long-term debt, excluding current maturities, fluctuated between a low of 10.7 billion US dollars in March 2015 and a high of 14.9 billion US dollars in September 2016, eventually settling at 12.9 billion US dollars in September 2018. A notable trend is the consistent decline in deferred taxes, which decreased from 5.7 billion US dollars in March 2013 to 2.3 billion US dollars by the end of the period, contributing to a general reduction in noncurrent liability pressure.
Retained Earnings and Capital Accumulation
A strong and consistent growth pattern is observed in retained earnings, which climbed from 2.4 billion US dollars in March 2013 to 18.9 billion US dollars in September 2018. This indicates robust cumulative profitability over the five-year span.
Treasury Stock and Shareholder Equity
The growth in retained earnings was largely offset by an aggressive share repurchase program. Common stock in treasury at cost increased from 300 million US dollars in March 2013 to 22.1 billion US dollars by September 2018. This strategy resulted in significant volatility in total stockholders' equity, which declined from 23.6 billion US dollars in March 2013 to a trough of 14.8 billion US dollars in March 2016, before recovering to 20.6 billion US dollars by September 2018.
Overall Solvency and Liability Composition
Total liabilities grew from 31.9 billion US dollars to 34.8 billion US dollars. The composition of total liabilities shifted toward shorter-term operational obligations, as current liabilities grew more rapidly than noncurrent liabilities. The balance between total liabilities and equity remained relatively balanced, although the equity base was significantly reshaped by the offsetting forces of high retained earnings and massive treasury stock acquisitions.

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