|
|
|
(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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|
(Address of principal executive offices)
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Emerging growth company
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|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.
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☐
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•
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exclude certain tax payments that may represent a reduction in cash available to the Company;
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•
|
do not reflect the Company’s cash expenditures, or future requirements, for capital expenditures or contractual commitments;
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•
|
do not reflect changes in, or cash requirements for, the Company’s working capital needs;
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•
|
do not reflect the significant interest expense, or the cash requirements, necessary to service interest or principal payments on the Company’s debt;
|
•
|
although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA and
Adjusted EBITDA do not reflect any cash requirements for such replacements; and
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•
|
may be calculated differently than other companies in the Company’s industry, limiting their usefulness as comparative measures.
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Three Months
Ended September 30, (unaudited)
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Nine Months
Ended September 30,
(unaudited)
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|||||||||||||||
2019
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2020
|
2019
|
2020
|
|||||||||||||
(dollars in millions)
|
||||||||||||||||
Net income
|
$
|
175
|
$
|
185
|
$
|
569
|
$
|
639
|
||||||||
Adjustments:
|
||||||||||||||||
Depreciation, and amortization of intangible assets and capitalized software
|
21
|
23
|
68
|
64
|
||||||||||||
Interest expense
|
22
|
27
|
67
|
72
|
||||||||||||
Income tax expense
|
58
|
77
|
181
|
271
|
||||||||||||
EBITDA
|
$
|
276
|
$
|
312
|
$
|
885
|
$
|
1,046
|
||||||||
Stock-based compensation
|
10
|
15
|
29
|
43
|
||||||||||||
Non-cash or non-recurring charges(a)
|
1
|
10
|
8
|
10
|
||||||||||||
Adjusted EBITDA
|
$
|
287
|
$
|
337
|
$
|
922
|
$
|
1,099
|
(a)
|
Represents non-cash or non-recurring charges of (i) $1 million related to loss on debt extinguishment for the three months ended September 30, 2019, (ii) $10 million related to the premium deficiency
reserve in Puerto Rico for the three months ended September 30, 2020, (iii) $8 million related to loss on debt extinguishment for the nine months ended September 30, 2019 and (iv) $10 million related to the premium deficiency reserve in
Puerto Rico for the nine months ended September 30, 2020.
|
Exhibit
No.
|
Description
|
104
|
Cover page information from Molina Healthcare, Inc.’s Current Report on Form 8-K filed on November 2, 2020
formatted in iXBRL (Inline Extensible Business Reporting Language)
|
|
MOLINA HEALTHCARE, INC. |
||
Date: November 2, 2020
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By:
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/s/ Jeff D. Barlow
|
|
Jeff D. Barlow,
Chief Legal Officer and Secretary
|