Outlook for 2011 Before Future Special Items | ||||||||
As Reported | Medi-Cal Charge (a) | Severe Weather (b) | Restructuring Charges (c) | Transaction Costs (d) | As Adjusted | |||
Diluted earnings per common share | $2.92- $3.12 | $1.19 | $0.07 | $0.05 | $0.02 | $4.25-$4.45 | ||
Operating income as a % of net revenues | 14.0%-14.5% | 3.0% | 0.3% | 0.2% | % | 17.5%-18.0% | ||
Cash from operations | ~$900 | $195 | (e) | (e) | (e) | ~$1,100 | ||
(a) Represents the first quarter pre-tax charge of $236 million associated with the agreement in principle related to Medi-Cal. (b) Represents an estimate of the impact of severe weather. (c) Represents first quarter pre-tax restructuring charges of $13.3 million principally associated with workforce reductions. (d) Represents first quarter pre-tax transaction costs of $4.7 million associated with the acquisitions of Athena Diagnostics and Celera Corporation. Of these costs, $2.3 million, primarily related to professional and filing fees, was recorded in selling, general, and administrative expenses and $2.4 million of financing related costs were recorded in interest expense, net. (e) Not significant to the outlook for cash flows from operations. | ||||||||
