Adjusted pharmacy claims normalize the claims volume statistic for the difference in average days' supply for mail and retail claims. Adjusted pharmacy claims are calculated by multiplying 90-day claims (the majority of total mail claims) by 3 and adding the 30-day claims. EBITDA can be reconciled to operating profit, which we believe to be the most directly comparable GAAP financial measure.The following is a reconciliation of operating profit to EBITDA for the Pharmacy Services segment:Three Months Ended March 31,
In millions, except per adjusted claim amounts
20112010Operating profit
$
397$ 538Depreciation and amortization
9998EBITDA
496636 Adjusted claims
207.6175.5EBITDA per adjusted claim
$ 2.39$ 3.62.
Supplemental Information(Unaudited)Retail Pharmacy SegmentThe following table summarizes the Retail Pharmacy segment's performance for the respective periods:Three Months Ended March 31, In millions
20112010Net revenues
$14,587$13,978Gross profit
4,1473,987Gross profit % of net revenues
28.4%28.5%Operating expenses
3,0512,957Operating expense % of net revenues
20.9%21.2%Operating profit
1,0961,030Operating profit % of net revenues
7.5%7.4%Net revenue increase: Total
4.4%3.6% Pharmacy
5.1%4.6% Front store
2.8%1.3%Same store sales increase (decrease): Total
2.6%2.3% Pharmacy
3.7%3.7% Front store
0.4%(0.7)%Generic dispensing rate
75.2%72.1%Pharmacy % of total revenues
69.1%68.4%Third party % of pharmacy revenue
97.5%97.0%Retail prescriptions filled
165.6157.3Adjusted Earnings Per Share Guidance(Unaudited)The following reconciliation of estimated income before income tax provision to estimated adjusted earnings per share contains forward-looking information that is subject to risks and uncertainties that could
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Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Related medicine technology :1.
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