Note 14 - Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Condensed Income Statement [Table Text Block]

	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)		Consolidated Totals
Revenues	$	87,195		$	36,543		$	—	$	123,738
Costs and expenses:
Costs of revenues		60,415			20,758			—		81,173
Selling, general and administrative expenses		17,022			11,610			—		28,632
Depreciation and amortization		8,719			5,306			—		14,025
Total costs and expenses		86,156			37,674			—		123,830
Income (loss) from operations		1,039			(1,131	)		—		(92	)
Interest and other expenses, net		5,312			1,261			—		6,573
Loss before income taxes		(4,273	)		(2,392	)		—		(6,665	)
Provision (benefit) for income taxes		(2,485	)		143			—		(2,342	)
Net loss	$	(1,788	)	$	(2,535	)	$	—	$	(4,323	)
Comprehensive Loss:
Net loss	$	(1,788	)	$	(2,535	)	$	—	$	(4,323	)
Foreign currency translation adjustments, net of tax		—			2,450			—		2,450
Total comprehensive loss	$	(1,788	)	$	(85	)	$	—	$	(1,873	)

	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)		Consolidated Totals
Revenues	$	91,178		$	57,525		$	—	$	148,703
Costs and expenses:
Costs of revenues		64,131			33,253			—		97,384
Selling, general and administrative expenses		18,124			15,133			—		33,257
Depreciation and amortization		8,623			7,703			—		16,326
Total costs and expenses		90,878			56,089			—		146,967
Income from operations		300			1,436			—		1,736
Interest and other expenses, net		5,559			1,971			—		7,530
Loss before income taxes		(5,259	)		(535	)		—		(5,794	)
Provision (benefit) for income taxes		(3,058	)		856			—		(2,202	)
Net loss	$	(2,201	)	$	(1,391	)	$	—	$	(3,592	)
Comprehensive Loss:
Net loss	$	(2,201	)	$	(1,391	)	$	—	$	(3,592	)
Foreign currency translation adjustments, net of tax		(75	)		(4,176	)		—		(4,251	)
Total comprehensive loss	$	(2,276	)	$	(5,567	)	$	—	$	(7,843	)

Schedule of Condensed Balance Sheet [Table Text Block]

Assets	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries			Consolidated Totals
Current assets:
Cash and cash equivalents	$	4,125	$	4,502	$	—		$	—		$	8,627
Accounts receivable, net		43,939		100,737		—			—			144,676
Other receivables		17		4		—			—			21
Prepaid expenses		2,723		2,613		—			—			5,336
Deferred tax assets		37		—		—			(21	)		16
Other current assets		—		1,213		—			—			1,213
Total current assets		50,841		109,069		—			(21	)		159,889
Property, equipment and leasehold improvements, net		8,339		1,994		—			—			10,333
Goodwill		258,890		111,253		—			—			370,143
Intangible assets, net		62,420		90,476		—			—			152,896
Long-term accounts receivable, less current portion		—		31,708		—			—			31,708
Deferred tax assets, noncurrent		61		4,112		—			—			4,173
Deferred financing costs, net		—		—		10,258			—			10,258
Other assets		495		606		—			—			1,101
Total assets	$	381,046	$	349,218	$	10,258		$	(21	)	$	740,501
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable	$	14,756	$	32,184	$	—		$	—		$	46,940
Accrued expenses		8,067		27,928		—			—			35,995
Accrued interest expense		—		—		10,918			—			10,918
Deferred revenue		103		3,848		—			—			3,951
Current portion of subordinated unsecured notes payable		275		—		—			—			275
Deferred tax liability		—		21		—			(21	)		—
Current portion of contingent earnout obligation		91		—		—			—			91
Current portion of working capital facilities		—		5,983		—			—			5,983
Other current liabilities		2,226		3,747		—			—			5,973
Total current liabilities		25,518		73,711		10,918			(21	)		110,126
Senior unsecured notes payable		—		—		250,000			—			250,000
Senior secured revolving credit facility and working capital facilities, less current portion		—		28,476		99,926			—			128,402
Long-term subordinated unsecured notes payable, less current portion		300		—		—			—			300
Other long-term liabilities		1,493		6,032		—			—			7,525
Total liabilities		27,311		108,219		360,844			(21	)		496,353
Commitments and contingencies
Stockholders’ equity (deficit) (1)		353,735		240,999		(350,586	)		—			244,148
Total liabilities and stockholders' equity (deficit)	$	381,046	$	349,218	$	10,258		$	(21	)	$	740,501

Assets	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries			Consolidated Totals
Current assets:
Cash and cash equivalents	$	2,208	$	5,501	$	—		$	—		$	7,709
Accounts receivable, net		45,810		101,985		—			—			147,795
Other receivables		—		—		—			—			—
Prepaid expenses		2,516		3,242		—			—			5,758
Deferred tax assets		22		—		—			(4	)		18
Other current assets		—		1,141		—			—			1,141
Total current assets		50,556		111,869		—			(4	)		162,421
Property, equipment and leasehold improvements, net		8,037		2,095		—			—			10,132
Goodwill		248,900		117,958		—			—			366,858
Intangible assets, net		54,987		81,236		—			—			136,223
Long-term accounts receivable, less current portion		—		31,870		—			—			31,870
Deferred tax assets, noncurrent		8,003		4,700		—			—			12,703
Deferred financing costs, net		—		—		9,713			—			9,713
Other assets		492		1,198		—			—			1,690
Total assets	$	370,975	$	350,926	$	9,713		$	(4	)	$	731,610
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable	$	13,584	$	32,618	$	—		$	—		$	46,202
Accrued expenses		7,809		28,861		—			—			36,670
Accrued interest expense		—		—		4,928			—			4,928
Deferred revenue		94		4,280		—			—			4,374
Current portion of subordinated unsecured notes payable		279		—		—			—			279
Deferred tax liability		—		4		—			(4	)		—
Current portion of contingent earnout obligation		92		—		—			—			92
Current portion of working capital facilities		—		6,440		—			—			6,440
Other current liabilities		1,809		3,918		—			—			5,727
Total current liabilities		23,667		76,121		4,928			(4	)		104,712
Senior unsecured notes payable		—		—		250,000			—			250,000
Senior secured revolving credit facility and working capital facilities, less current portion		—		25,192		100,115			—			125,307
Long-term subordinated unsecured notes payable, less current portion		305		—		—			—			305
Other long-term liabilities		1,459		5,883		—			—			7,342
Total liabilities		25,431		107,196		355,043			(4	)		487,666
Commitments and contingencies
Stockholders’ equity (deficit) (1)		345,544		243,730		(345,330	)		—			243,944
Total liabilities and stockholders’ equity (deficit)	$	370,975	$	350,926	$	9,713		$	(4	)	$	731,610

Schedule of Condensed Cash Flow Statement [Table Text Block]

	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidated Totals
Net cash provided by operating activities	$	1,398		$	3,401		$	—		$	4,799
Investing activities:
Purchases of equipment and leasehold improvements, net		(407	)		(145	)		—			(552	)
Working capital and other settlements for acquisitions		47			861			—			908
Net cash provided by (used in) investing activities		(360	)		716			—			356
Financing activities:
Borrowings under senior secured revolving credit facility		—			—			11,000			11,000
Proceeds from the exercise of options and warrants		—			—			50			50
Purchases of stock for treasury		—			—			(387	)		(387	)
Repayment of subordinated unsecured notes payable		(546	)		—			—			(546	)
Payment of deferred financing costs		—			—			(414	)		(414	)
Net repayments of working capital facilities		—			(3,789	)		—			(3,789	)
Repayment under senior secured revolving credit facility		—			—			(11,000	)		(11,000	)
Intercompany investments and other		(846	)		—			751			(95	)
Net cash used in financing activities		(1,392	)		(3,789	)		—			(5,181	)
Exchange rate impact on cash and cash equivalents		—			76			—			76
Net increase (decrease) in cash and cash equivalents		(354	)		404			—			50
Cash and cash equivalents, beginning of period		6,044			2,372			—			8,416
Cash and cash equivalents, end of period	$	5,690		$	2,776		$	—		$	8,466

	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidated Totals
Net cash provided by (used in) operating activities	$	(3,794	)	$	2,684		$	—		$	(1,110	)
Investing activities:
Purchases of equipment and leasehold improvements, net		(919	)		(851	)		—			(1,770	)
Net cash used in investing activities		(919	)		(851	)		—			(1,770	)
Financing activities:
Borrowings under senior secured revolving credit facility		—			—			10,000			10,000
Proceeds from the exercise of options and warrants		—			—			2,441			2,441
Excess tax benefit related to share-based compensation		—			—			407			407
Payment of deferred financing costs		—			—			(52	)		(52	)
Net repayments of working capital facilities		—			(800	)		—			(800	)
Repayment under senior secured revolving credit facility		—			—			(10,000	)		(10,000	)
Intercompany investments and other		2,796			—			(2,796	)		—
Net cash provided by (used in) financing activities		2,796			(800	)		—			1,996
Exchange rate impact on cash and cash equivalents		—			(34	)		—			(34	)
Net increase (decrease) in cash and cash equivalents		(1,917	)		999			—			(918	)
Cash and cash equivalents, beginning of period		4,125			4,502			—			8,627
Cash and cash equivalents, end of period	$	2,208		$	5,501		$	—		$	7,709