EX-99.1 2 ex991.htm EXHIBIT 99.1 Exhibit


Exhibit 99.1
Owens & Minor, Inc.
Summary Segment Information (unaudited)
The unaudited reclassified summary segment financial information below is provided to reflect the realignment of the Company's reporting segments effective during the first quarter of 2016. The Company did not operate under the realigned structure for any of these prior periods and has begun to report comparative results under the new structure effective with the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2016.
Reportable segment data on a quarterly basis for the year ended December 31, 2015 and on an annual basis for the years ended December 31, 2015 and 2014 is presented in the table below:
 
 
Year ended December 31, 2015
 
 
 
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
Total
 
Year ended December 31, 2014
Net revenue:
 
 
 
 
 
 
 
 
 
 
 
 
Segment net revenue
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
2,249,705

 
$
2,279,725

 
$
2,321,301

 
$
2,326,124

 
$
9,176,855

 
$
8,910,733

International
 
95,511

 
92,856

 
92,777

 
91,493

 
372,638

 
481,402

CPS
 
129,645

 
135,714

 
143,866

 
152,587

 
561,812

 
294,358

Total segment net revenue
 
2,474,861

 
2,508,295

 
2,557,944

 
2,570,204

 
10,111,305

 
9,686,493

Inter-segment revenue
 
 
 
 
 
 
 
 
 
 
 
 
CPS
 
(83,665
)
 
(86,128
)
 
(86,275
)
 
(82,290
)
 
(338,359
)
 
(246,311
)
       Total inter-segment revenue
 
(83,665
)
 
(86,128
)
 
(86,275
)
 
(82,290
)
 
(338,359
)
 
(246,311
)
Consolidated net revenue
 
$
2,391,196

 
$
2,422,167

 
$
2,471,669

 
$
2,487,914

 
$
9,772,946

 
$
9,440,182

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating earnings (loss):
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
38,106

 
$
38,394

 
$
41,979

 
$
44,466

 
$
162,944

 
$
165,769

International
 
(337
)
 
1,181

 
1,649

 
706

 
3,198

 
(6,808
)
CPS
 
13,182

 
13,850

 
16,604

 
18,296

 
61,932

 
46,527

Inter-segment eliminations
 
(60
)
 
142

 
(526
)
 
(368
)
 
(811
)
 
(2,950
)
Acquisition-related and exit and realignment charges (1)
 
(9,916
)
 
(5,707
)
 
(6,134
)
 
(6,647
)
 
(28,404
)
 
(42,801
)
Fair value adjustments related to purchase accounting
 
—

 
—

 
—

 
—

 
—

 
3,706

Other (2)
 
—

 
—

 
—

 
1,500

 
1,500

 
(3,907
)
Consolidated operating earnings
 
$
40,975

 
$
47,860

 
$
53,572

 
$
57,953

 
$
200,359

 
$
159,536

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
9,083

 
$
8,888

 
$
8,621

 
$
7,834

 
$
34,425

 
$
35,499

International
 
4,895

 
4,743

 
4,792

 
4,473

 
18,903

 
19,837

CPS
 
2,191

 
2,150

 
2,034

 
1,803

 
8,180

 
2,087

Consolidated depreciation and amortization
 
$
16,169

 
$
15,781

 
$
15,447

 
$
14,110

 
$
61,508

 
$
57,423

 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
8,009

 
$
3,349

 
$
2,041

 
$
3,911

 
$
17,310

 
$
52,059

International
 
2,915

 
7,875

 
7,235

 
133

 
18,158

 
18,279

CPS
 
642

 
35

 
96

 
375

 
1,148

 
470

Consolidated capital expenditures
 
$
11,566

 
$
11,259

 
$
9,372

 
$
4,419

 
$
36,616

 
$
70,808

 
 
 
 
 
 
 
 
 
 
 
 
 
(1)The years ended December 31, 2015 and 2014 include $4.5 million ($3.0 million in first quarter, $1.2 million in second quarter and $0.3 million in third quarter) and $6.0 million, respectively, of accelerated amortization related to an information system that was replaced in the International segment.
(2) Contract claim settlement in 2014 of which $1.5 million was recovered in the fourth quarter of 2015.