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

9 Months Ended

Sep. 30, 2013

Condensed Consolidating Financial Information Of Guarantor Subsidiaries [Abstract]

Condensed Income Statement [Table Text Block]

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)		Consolidated Totals
Revenues	$	84,785		$	45,300		$	—	$	130,085
Costs and expenses:
Costs of revenues		60,025			26,055			—		86,080
Selling, general and administrative expenses		15,003			13,278			—		28,281
Depreciation and amortization		8,480			5,978			—		14,458
Total costs and expenses		83,508			45,311			—		128,819
Income (loss) from operations		1,277			(11	)		—		1,266
Interest and other expenses, net		5,937			1,609			—		7,546
Loss before income taxes		(4,660	)		(1,620	)		—		(6,280	)
Provision (benefit) for income taxes		(3,692	)		2,038			—		(1,654	)
Net loss	$	(968	)	$	(3,658	)	$	—	$	(4,626	)
Comprehensive Income (Loss):
Net loss	$	(968	)	$	(3,658	)	$	—	$	(4,626	)
Foreign currency translation adjustments, net of tax		(159	)		4,572			—		4,413
Total comprehensive income (loss)	$	(1,127	)	$	914		$	—	$	(213	)

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)		Consolidated Totals
Revenues	$	260,442		$	121,158		$	—	$	381,600
Costs and expenses:
Costs of revenues		182,747			68,729			—		251,476
Selling, general and administrative expenses		47,449			37,193			—		84,642
Depreciation and amortization		25,881			16,364			—		42,245
Total costs and expenses		256,077			122,286			—		378,363
Income (loss) from operations		4,365			(1,128	)		—		3,237
Interest and other expenses, net		16,391			3,902			—		20,293
Loss before income taxes		(12,026	)		(5,030	)		—		(17,056	)
Provision (benefit) for income taxes		(6,938	)		2,138			—		(4,800	)
Net loss	$	(5,088	)	$	(7,168	)	$	—	$	(12,256	)
Comprehensive Loss:
Net loss	$	(5,088	)	$	(7,168	)	$	—	$	(12,256	)
Foreign currency translation adjustments, net of tax		(159	)		5,286			—		5,127
Total comprehensive loss	$	(5,247	)	$	(1,882	)	$	—	$	(7,129	)

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)		Consolidated Totals
Revenues	$	93,963		$	58,391		$	—	$	152,354
Costs and expenses:
Costs of revenues		66,733			34,098			—		100,831
Selling, general and administrative expenses		15,902			15,718			—		31,620
Depreciation and amortization		7,730			8,180			—		15,910
Total costs and expenses		90,365			57,996			—		148,361
Income from operations		3,598			395			—		3,993
Interest and other expenses, net		5,512			1,804			—		7,316
Loss before income taxes		(1,914	)		(1,409	)		—		(3,323	)
Provision (benefit) for income taxes		(3,451	)		2,379			—		(1,072	)
Net income (loss)	$	1,537		$	(3,788	)	$	—	$	(2,251	)
Comprehensive Income (Loss):
Net income (loss)	$	1,537		$	(3,788	)	$	—	$	(2,251	)
Foreign currency translation adjustments, net of tax		(2,166	)		5,212			—		3,046
Total comprehensive income (loss)	$	(629	)	$	1,424		$	—	$	795

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)		Consolidated Totals
Revenues	$	280,634		$	176,571		$	—	$	457,205
Costs and expenses:
Costs of revenues		197,937			102,396			—		300,333
Selling, general and administrative expenses		51,306			47,647			—		98,953
Depreciation and amortization		24,609			23,449			—		48,058
Total costs and expenses		273,852			173,492			—		447,344
Income from operations		6,782			3,079			—		9,861
Interest and other expenses, net		16,859			5,687			—		22,546
Loss before income taxes		(10,077	)		(2,608	)		—		(12,685	)
Provision (benefit) for income taxes		(8,329	)		4,270			—		(4,059	)
Net loss	$	(1,748	)	$	(6,878	)	$	—	$	(8,626	)
Comprehensive Loss:
Net loss	$	(1,748	)	$	(6,878	)	$	—	$	(8,626	)
Foreign currency translation adjustments, net of tax		516			(7,452	)		—		(6,936	)
Total comprehensive loss	$	(1,232	)	$	(14,330	)	$	—	$	(15,562	)

Condensed Balance Sheet [Table Text Block]

	Guarantor Subsidiaries		Non- Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries			Consolidated Totals
Assets
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

	Guarantor Subsidiaries		Non- Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries			Consolidated Totals
Assets
Current assets:
Cash and cash equivalents	$	1,193	$	10,852	$	—		$	—		$	12,045
Accounts receivable, net		45,633		113,682		—			—			159,315
Other receivables		29		—		—			—			29
Prepaid expenses		2,583		3,429		—			—			6,012
Deferred tax assets		7		—		—			(4	)		3
Other current assets		—		1,211		—			—			1,211
Total current assets		49,445		129,174		—			(4	)		178,615
Property, equipment and leasehold improvements, net		7,428		3,309		—			—			10,737
Goodwill		248,999		119,826		—			—			368,825
Intangible assets, net		41,874		62,632		—			—			104,506
Long-term accounts receivable, less current portion		—		35,809		—			—			35,809
Deferred tax assets, noncurrent		11,187		5,256		—			—			16,443
Deferred financing costs, net		—		106		8,638			—			8,744
Other assets		490		985		—			—			1,475
Total assets	$	359,423	$	357,097	$	8,638		$	(4	)	$	725,154
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable	$	15,729	$	35,259	$	—		$	—		$	50,988
Accrued expenses		2,587		35,185		—			—			37,772
Accrued interest expense		—		—		4,836			—			4,836
Deferred revenue		100		5,748		—			—			5,848
Current portion of subordinated unsecured notes payable		314		—		—			—			314
Deferred tax liability		—		4		—			(4	)		—
Other current liabilities		2,001		4,080		—			—			6,081
Total current liabilities		20,731		80,276		4,836			(4	)		105,839
Senior unsecured notes payable		—		—		250,000			—			250,000
Senior secured revolving credit facility and working capital facilities		—		34,630		66,596			—			101,226
Other long-term liabilities		1,335		6,400		—			—			7,735
Total liabilities		22,066		121,306		321,432			(4	)		464,800
Commitments and contingencies
Stockholders’ equity (deficit) (1)		337,357		235,791		(312,794	)		—			260,354
Total liabilities and stockholders' equity (deficit)	$	359,423	$	357,097	$	8,638		$	(4	)	$	725,154

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	$	10,938		$	4,149		$	—		$	15,087
Investing activities:
Cash proceeds from (paid for) acquisitions, net		(96,942	)		1,141			—			(95,801	)
Purchases of equipment and leasehold improvements, net		(4,379	)		(478	)		—			(4,857	)
Working capital and other settlements for acquisitions		(857	)		1,404			—			547
Net cash provided by (used in) investing activities		(102,178	)		2,067			—			(100,111	)
Financing activities:
Borrowings under senior secured revolving credit facility		—			—			160,640			160,640
Proceeds from the exercise of options and warrants		—			—			1,254			1,254
Net repayments of working capital facilities		—			(5,517	)		—			(5,517	)
Purchases of stock for treasury		—			—			(387	)		(387	)
Payment of deferred financing costs		—			—			(1,034	)		(1,034	)
Repayment of subordinated unsecured notes payable		(975	)		—			—			(975	)
Repayments under senior secured revolving credit facility		—			—			(71,000	)		(71,000	)
Intercompany investments and other		89,378			—			(89,473	)		(95	)
Net cash provided by (used in) financing activities		88,403			(5,517	)		—			82,886
Exchange rate impact on cash and cash equivalents		—			128			—			128
Net increase (decrease) in cash and cash equivalents		(2,837	)		827			—			(2,010	)
Cash and cash equivalents, beginning of period		6,044			2,372			—			8,416
Cash and cash equivalents, end of period	$	3,207		$	3,199		$	—		$	6,406

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidated Totals
Net cash provided by operating activities	$	13,477		$	9,241		$	—		$	22,718
Investing activities:
Purchases of equipment and leasehold improvements, net		(2,170	)		(2,588	)		—			(4,758	)
Working capital and other settlements for acquisitions		(444	)		(125	)		—			(569	)
Proceeds from foreign currency net investment hedge		500			—			—			500
Other		(332	)		—			—			(332	)
Net cash used in investing activities		(2,446	)		(2,713	)		—			(5,159	)
Financing activities:
Borrowings under senior secured revolving credit facility		—			—			103,597			103,597
Proceeds from the exercise of options and warrants		—			—			13,089			13,089
Excess tax benefit related to share-based compensation		—			—			5,974			5,974
Net borrowings under working capital facilities		—			215			—			215
Payment of deferred financing costs		—			(116	)		(52	)		(168	)
Repayment of subordinated unsecured notes payable		(270	)		—			—			(270	)
Repayment under senior secured revolving credit facility		—			—			(136,301	)		(136,301	)
Intercompany investments and other		(13,693	)		—			13,693			—
Net cash provided by (used in) financing activities		(13,963	)		99			—			(13,864	)
Exchange rate impact on cash and cash equivalents		—			(277	)		—			(277	)
Net increase (decrease) in cash and cash equivalents		(2,932	)		6,350			—			3,418
Cash and cash equivalents, beginning of period		4,125			4,502			—			8,627
Cash and cash equivalents, end of period	$	1,193		$	10,852		$	—		$	12,045