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

9 Months Ended

Sep. 30, 2014

Condensed Consolidating Financial Information Of Guarantor Subsidiaries [Abstract]

Condensed Income Statement [Table Text Block]

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries		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) before earnings of consolidated subsidiaries	$	1,537		$	(3,788	)	$	—		$	—	$	(2,251	)
Net income (loss) of consolidated subsidiaries		(3,788	)		—			(3,788	)		7,576		—
Net income (loss)	$	(2,251	)	$	(3,788	)	$	(3,788	)	$	7,576	$	(2,251	)

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries		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 before earnings of consolidated subsidiaries	$	(1,748	)	$	(6,878	)	$	—		$	—	$	(8,626	)
Net income (loss) of consolidated subsidiaries		(6,878	)		—			(6,878	)		13,756		—
Net income (loss)	$	(8,626	)	$	(6,878	)	$	(6,878	)	$	13,756	$	(8,626	)

	Guarantor Subsidiaries		Non- Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)		Consolidation and Elimination Entries			Consolidated Totals
Revenues	$	123,112	$	80,966	$	—	$	—		$	204,078
Costs and expenses:
Costs of revenues		80,796		49,801		—		—			130,597
Selling, general and administrative expenses		22,970		20,564		—		—			43,534
Depreciation and amortization		9,149		6,556		—		—			15,705
Total costs and expenses		112,915		76,921		—		—			189,836
Income from operations		10,197		4,045		—		—			14,242
Interest and other expenses, net		6,346		2,009		—		—			8,355
Income before income taxes		3,851		2,036		—		—			5,887
Provision for income taxes		1,024		1,448		—		—			2,472
Net income before earnings of consolidated subsidiaries	$	2,827	$	588	$	—	$	—		$	3,415
Net income (loss) of consolidated subsidiaries		588		—		588		(1,176	)		—
Net income (loss)	$	3,415	$	588	$	588	$	(1,176	)	$	3,415

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries		Consolidated Totals
Revenues	$	346,504		$	227,047		$	—		$	—	$	573,551
Costs and expenses:
Costs of revenues		228,346			138,137			—			—		366,483
Selling, general and administrative expenses		66,521			60,131			—			—		126,652
Depreciation and amortization		25,037			19,868			—			—		44,905
Total costs and expenses		319,904			218,136			—			—		538,040
Income from operations		26,600			8,911			—			—		35,511
Interest and other expenses, net		18,154			5,873			—			—		24,027
Income before income taxes		8,446			3,038			—			—		11,484
Provision for income taxes		498			4,328			—			—		4,826
Net income (loss) before earnings of consolidated subsidiaries	$	7,948		$	(1,290	)	$	—		$	—	$	6,658
Net income (loss) of consolidated subsidiaries		(1,290	)		—			(1,290	)		2,580		—
Net income (loss)	$	6,658		$	(1,290	)	$	(1,290	)	$	2,580	$	6,658

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	$	760	$	12,069	$	—	$	—		$	12,829
Accounts receivable, net		46,828		123,077		—		—			169,905
Intercompany receivable		19,120		—		10,431		(29,551	)		—
Prepaid expenses		2,889		2,896		—		—			5,785
Deferred tax assets		437		—		—		(4	)		433
Other current assets		61		1,237		—		—			1,298
Total current assets		70,095		139,279		10,431		(29,555	)		190,250
Property, equipment and leasehold improvements, net		6,760		4,190		—		—			10,950
Investment in subsidiaries		217,034		—		414,802		(631,836	)		—
Intercompany notes receivable		174,826		—		174,826		(349,652	)		—
Goodwill		259,316		109,996		—		—			369,312
Intangible assets, net		37,172		57,692		—		—			94,864
Long-term accounts receivable, less current portion		—		35,952		—		—			35,952
Deferred tax assets, noncurrent		15,470		6,021		—		—			21,491
Deferred financing costs, net		8,100		93		8,100		(8,100	)		8,193
Other assets		497		1,004		—		—			1,501
Total assets	$	789,270	$	354,227	$	608,159	$	(1,019,143	)	$	732,513
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable	$	17,524	$	35,148	$	—	$	—		$	52,672
Intercompany payable		10,431		19,120		—		(29,551	)		—
Accrued expenses		10,839		27,609		—		—			38,448
Accrued interest expense		—		—		10,431		—			10,431
Deferred revenue		100		5,695		—		—			5,795
Subordinated unsecured notes payable		318		—		—		—			318
Deferred tax liability		—		4		—		(4	)		—
Current portion of contingent earnout obligation		—		2,032		—		—			2,032
Other current liabilities		2,116		4,322		—		—			6,438
Total current liabilities		41,328		93,930		10,431		(29,555	)		116,134
Senior unsecured notes payable		—		—		250,000		—			250,000
Senior secured revolving credit facility and working capital facilities		—		37,943		45,027		—			82,970
Intercompany notes payable		174,826		174,826		—		(349,652	)		—
Long-term contingent earnout obligation, less current portion		—		2,373		—		—			2,373
Other long-term liabilities		1,791		6,374		—		—			8,165
Total liabilities		217,945		315,446		305,458		(379,207	)		459,642
Commitments and contingencies
Stockholders’ equity (deficit)		571,325		38,781		302,701		(639,936	)		272,871
Total liabilities and stockholders' equity (deficit)	$	789,270	$	354,227	$	608,159	$	(1,019,143	)	$	732,513

	Guarantor Subsidiaries		Non- Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)		Consolidation and Elimination Entries			Consolidated Totals
Assets
Current assets:
Cash and cash equivalents	$	981	$	8,130	$	—	$	—		$	9,111
Accounts receivable, net		59,150		142,348		—		—			201,498
Intercompany receivable		35,935		—		5,075		(41,010	)		—
Prepaid expenses		4,715		6,117		—		—			10,832
Deferred tax assets		4,305		—		—		(4	)		4,301
Other current assets		—		1,218		—		—			1,218
Total current assets		105,086		157,813		5,075		(41,014	)		226,960
Property, equipment and leasehold improvements, net		9,843		4,685		—		—			14,528
Investment in subsidiaries		220,649		—		602,297		(822,946	)		—
Intercompany notes receivable		174,957		—		174,957		(349,914	)		—
Goodwill		387,093		117,534		—		—			504,627
Intangible assets, net		73,098		46,007		—		—			119,105
Long-term accounts receivable, less current portion		—		46,462		—		—			46,462
Deferred tax assets, noncurrent		12,587		7,046		—		—			19,633
Deferred financing costs, net		6,677		45		—		—			6,722
Other assets		642		1,338		—		—			1,980
Total assets	$	990,632	$	380,930	$	782,329	$	(1,213,874	)	$	940,017
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable	$	23,741	$	38,723	$	—	$	—		$	62,464
Intercompany payable		5,075		35,935		—		(41,010	)		—
Accrued expenses		18,489		27,732		—		—			46,221
Accrued interest expense		—		—		5,075		—			5,075
Deferred revenue		264		6,125		—		—			6,389
Deferred tax liability		—		4		—		(4	)		—
Current portion of contingent earnout obligation		—		4,675		—		—			4,675
Current portion of working capital facilities		—		44,668		—		—			44,668
Other current liabilities		3,010		4,829		—		—			7,839
Total current liabilities		50,579		162,691		5,075		(41,014	)		177,331
Senior unsecured notes payable		—		—		250,000		—			250,000
Senior secured revolving credit facility		—		—		163,358		—			163,358
Intercompany notes payable		174,957		174,957		—		(349,914	)		—
Long-term contingent earnout obligation, less current portion		—		2,179		—		—			2,179
Other long-term liabilities		1,718		7,401		—		—			9,119
Total liabilities		227,254		347,228		418,433		(390,928	)		601,987
Commitments and contingencies
Stockholders’ equity (deficit)		763,378		33,702		363,896		(822,946	)		338,030
Total liabilities and stockholders' equity (deficit)	$	990,632	$	380,930	$	782,329	$	(1,213,874	)	$	940,017

Condensed Cash Flow Statement [Table Text Block]

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries		Consolidated Totals
Net cash provided by operating activities	$	13,477		$	9,241		$	—		$	—	$	22,718
Investing activities:
Purchases of building, 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 hedges		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 notes and 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

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries		Consolidated Totals
Net cash provided by operating activities	$	18,266		$	6,695		$	—		$	—	$	24,961
Investing activities:
Cash paid for acquisitions, net		(177,864	)		(9,538	)		—			—		(187,402	)
Purchases of building, equipment and leasehold improvements, net		(4,171	)		(2,021	)		—			—		(6,192	)
Working capital and other settlements for acquisitions		(497	)		(1,869	)		—			—		(2,366	)
Cash paid for foreign currency net investment hedges		(362	)		—			—			—		(362	)
Other		(939	)		—			—			—		(939	)
Net cash used in investing activities		(183,833	)		(13,428	)		—			—		(197,261	)
Financing activities:
Borrowings under senior secured revolving credit facility		—			—			269,621			—		269,621
Proceeds from the exercise of options and warrants					—			35,394			—		35,394
Excess tax benefit related to share-based compensation					—			12,700			—		12,700
Net borrowings under working capital facilities					7,506			—			—		7,506
Payment of deferred financing costs					—			(251	)		—		(251	)
Repayment of subordinated unsecured notes payable		(333	)		—			—			—		(333	)
Payment of contingent earnout obligation		—			(4,362	)		—			—		(4,362	)
Repayment under senior secured revolving credit facility		—			—			(151,290	)		—		(151,290	)
Intercompany notes and investments and other		166,121			—			(166,174	)		—		(53	)
Net cash provided by financing activities		165,788			3,144			—			—		168,932
Exchange rate impact on cash and cash equivalents		—			(350	)		—			—		(350	)
Net increase (decrease) in cash and cash equivalents		221			(3,939	)		—			—		(3,718	)
Cash and cash equivalents, beginning of period		760			12,069			—			—		12,829
Cash and cash equivalents, end of period	$	981		$	8,130		$	—		$	—	$	9,111