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Note 14 - Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)
12 Months Ended
Dec. 31, 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

  $ 340,200     $ 181,037     $     $     $ 521,237  

Costs and expenses:

                                       

Costs of revenues

    241,281       102,770                   344,051  

Selling, general and administrative expenses

    60,255       53,255                   113,510  

Depreciation and amortization

    34,339       24,212                   58,551  

Total costs and expenses

    335,875       180,237                   516,112  

Income from operations

    4,325       800                   5,125  

Interest and other expenses, net

    24,411       3,640                   28,051  

Loss before income taxes

    (20,086

)

    (2,840

)

                (22,926

)

Provision (benefit) for income taxes

    (10,320

)

    2,333                   (7,987

)

Net loss before earnings of consolidated subsidiaries

  $ (9,766

)

  $ (5,173

)

  $     $     $ (14,939

)

Net income (loss) of consolidated subsidiaries

    (5,173

)

          (5,173

)

    10,346        

Net income (loss)

  $ (14,939

)

  $ (5,173

)

  $ (5,173

)

  $ 10,346     $ (14,939

)

   

Guarantor Subsidiaries

   

Non-Guarantor Subsidiaries

   

ExamWorks Group, Inc. (Parent Corporation)

   

Consolidation and Elimination Entries

   

Consolidated Totals

 
                                         

Revenues

  $ 374,817     $ 241,199     $     $     $ 616,016  

Costs and expenses:

                                       

Costs of revenues

    264,999       140,330                   405,329  

Selling, general and administrative expenses

    70,681       63,189                   133,870  

Depreciation and amortization

    31,787       30,961                   62,748  

Total costs and expenses

    367,467       234,480                   601,947  

Income from operations

    7,350       6,719                   14,069  

Interest and other expenses, net

    22,107       7,534                   29,641  

Loss before income taxes

    (14,757

)

    (815

)

                (15,572

)

Provision (benefit) for income taxes

    (11,540

)

    6,184                   (5,356

)

Net loss before earnings of consolidated subsidiaries

  $ (3,217

)

  $ (6,999

)

  $     $     $ (10,216

)

Net income (loss) of consolidated subsidiaries

    (6,999

)

          (6,999

)

    13,998        

Net income (loss)

  $ (10,216

)

  $ (6,999

)

  $ (6,999

)

  $ 13,998     $ (10,216

)

   

Guarantor Subsidiaries

   

Non-Guarantor Subsidiaries

   

ExamWorks Group, Inc. (Parent Corporation)

   

Consolidation and Elimination Entries

   

Consolidated Totals

 
                                         

Revenues

  $ 468,419     $ 307,196     $     $     $ 775,615  

Costs and expenses:

                                       

Costs of revenues

    308,962       188,076                   497,038  

Selling, general and administrative expenses

    92,213       78,984                   171,197  

Depreciation and amortization

    34,302       25,978                   60,280  

Total costs and expenses

    435,477       293,038                   728,515  

Income from operations

    32,942       14,158                   47,100  

Interest and other expenses, net

    24,909       7,262                   32,171  

Income before income taxes

    8,033       6,896                   14,929  

Provision (benefit) for income taxes

    (2,151     6,586                   4,435  

Net income before earnings of consolidated subsidiaries

  $ 10,184     $ 310     $     $     $ 10,494  

Net income (loss) of consolidated subsidiaries

    310             310       (620 )      

Net income (loss)

  $ 10,494     $ 310     $ 310     $ (620 )   $ 10,494  
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  

Other receivables

                             

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  

Current portion of 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, less current portion

          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  

Deferred tax liability, noncurrent

                             

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

  $ 388     $ 9,363     $     $     $ 9,751  

Accounts receivable, net

    55,684       147,505                   203,189  

Intercompany receivable

    42,002             10,667       (52,669 )      

Prepaid expenses

    8,248       5,557                   13,805  

Deferred tax assets

    3,780                   (4 )     3,776  

Other current assets

    272       1,165                   1,437  

Total current assets

    110,374       163,590       10,667       (52,673 )     231,958  

Property, equipment and leasehold improvements, net

    10,394       5,332                   15,726  

Investment in subsidiaries

    217,344             591,435       (808,779 )      

Intercompany notes receivable

    174,464             174,464       (348,928 )      

Goodwill

    387,104       108,575                   495,679  

Intangible assets, net

    64,530       38,053                   102,583  

Long-term accounts receivable, less current portion

          46,401                   46,401  

Deferred tax assets, noncurrent

    22,505       7,177                   29,682  

Deferred financing costs, net

    6,140       29                   6,169  

Other assets

    663       1,283                   1,946  

Total assets

  $ 993,518     $ 370,440     $ 776,566     $ (1,210,380 )   $ 930,144  

Liabilities and Stockholders’ Equity (Deficit)

                                       

Current liabilities:

                                       

Accounts payable

  $ 20,163     $ 36,870     $     $     $ 57,033  

Intercompany payable

    10,667       42,002             (52,669 )      

Accrued expenses

    23,904       30,074                   53,978  

Accrued interest expense

                10,667             10,667  

Deferred revenue

    244       6,158                   6,402  

Deferred tax liability

          4             (4 )      

Current portion of contingent earnout obligation

          4,473                   4,473  

Current portion of working capital facilities

          40,396                   40,396  

Other current liabilities

    2,363       4,587                   6,950  

Total current liabilities

    57,341       164,564       10,667       (52,673 )     179,899  

Senior unsecured notes payable

                250,000             250,000  

Senior secured revolving credit facility and working capital facilities, less current portion

                143,853             143,853  

Intercompany notes payable

    174,464       174,464             (348,928 )      

Long-term contingent earnout obligation, less current portion

          2,114                   2,114  

Other long-term liabilities

    1,795       7,608                   9,403  

Total liabilities

    233,600       348,750       404,520       (401,601 )     585,269  

Commitments and contingencies

                                       

Stockholders’ equity (deficit)

    759,918       21,690       372,046       (808,779 )     344,875  

Total liabilities and stockholders' equity (deficit)

  $ 993,518     $ 370,440     $ 776,566     $ (1,210,380 )   $ 930,144  
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

  $ 18,131     $ 6,646     $     $     $ 24,777  

Investing activities:

                                       

Cash paid for acquisitions, net

    (12,378

)

    (96,592

)

                (108,970

)

Purchases of equipment and leasehold improvements, net

    (5,071

)

    (770

)

                (5,841

)

Working capital and other settlements for acquisitions

    (857

)

    1,284                   427  

Intercompany investments and other

                                 

Net cash used in investing activities

    (18,306

)

    (96,078

)

                (114,384

)

Financing activities:

                                       

Borrowings under senior secured revolving credit facility

                170,640             170,640  

Proceeds from the exercise of options and warrants

                  2,258               2,258  

Excess tax benefit related to share-based compensation

                  2,853               2,853  

Net repayments of working capital facilities

            (6,279

)

                  (6,279

)

Purchases of stock for treasury

                  (387

)

            (387

)

Payment of deferred financing costs

                  (1,074

)

            (1,074

)

Repayment of subordinated unsecured notes payable

    (2,193

)

                      (2,193

)

Repayment under senior secured revolving credit facility

                (76,000

)

          (76,000

)

Intercompany notes and investments and other

    449       97,747       (98,290

)

          (94

)

Net cash provided by (used in) financing activities

    (1,744

)

    91,468                   89,724  

Exchange rate impact on cash and cash equivalents

          94                   94  

Net increase (decrease) in cash and cash equivalents

    (1,919

)

    2,130                   211  

Cash and cash equivalents, beginning of year

    6,044       2,372                   8,416  

Cash and cash equivalents, end of year

  $ 4,125     $ 4,502     $     $     $ 8,627  
   

Guarantor Subsidiaries

   

Non-Guarantor Subsidiaries

   

ExamWorks Group, Inc. (Parent Corporation)

   

Consolidation and Elimination Entries

   

Consolidated Totals

 
                                         

Net cash provided by operating activities

  $ 23,963     $ 12,392     $     $     $ 36,355  

Investing activities:

                                       

Cash paid for acquisitions, net

    (592

)

    (2,726

)

                (3,318

)

Purchases of equipment and leasehold improvements, net

    (3,197

)

    (3,347

)

                (6,544

)

Working capital and other settlements for acquisitions

    (444

)

    (125

)

                (569

)

Proceeds from foreign currency net investment hedge

    1,421                         1,421  

Other

    (1,144

)

                      (1,144

)

Net cash used in investing activities

    (3,956

)

    (6,198

)

                (10,154

)

Financing activities:

                                       

Borrowings under senior secured revolving credit facility

                142,473             142,473  

Proceeds from the exercise of options and warrants

                  24,261             24,261  

Excess tax benefit related to share-based compensation

                  6,610             6,610  

Net borrowings under working capital facilities

            2,772                   2,772  

Payment of deferred financing costs

            (116

)

    (56

)

          (172

)

Repayment of subordinated unsecured notes payable

    (270

)

                      (270

)

Repayment under senior secured revolving credit facility

                (196,746

)

          (196,746

)

Intercompany notes and investments and other

    (23,102

)

    (356

)

    23,458              

Net cash provided by (used in) financing activities

    (23,372

)

    2,300                   (21,072

)

Exchange rate impact on cash and cash equivalents

          (927

)

                (927

)

Net increase (decrease) in cash and cash equivalents

    (3,365

)

    7,567                   4,202  

Cash and cash equivalents, beginning of year

    4,125       4,502                   8,627  

Cash and cash equivalents, end of year

  $ 760     $ 12,069     $     $     $ 12,829  
   

Guarantor Subsidiaries

   

Non-Guarantor Subsidiaries

   

ExamWorks Group, Inc. (Parent Corporation)

   

Consolidation and Elimination Entries

   

Consolidated Totals

 
                                         

Net cash provided by operating activities

  $ 33,096     $ 12,103     $     $     $ 45,199  

Investing activities:

                                       

Cash paid for acquisitions, net

    (177,864 )     (9,538 )                 (187,402 )

Purchases of equipment and leasehold improvements, net

    (7,687 )     (3,207 )                 (10,894 )

Working capital and other settlements for acquisitions

    (477 )     (1,854 )                 (2,331 )

Proceeds from foreign currency net investment hedge

    4,006                         4,006  

Other

    (1,347 )     (195 )                 (1,542 )

Net cash used in investing activities

    (183,369 )     (14,794 )                 (198,163 )

Financing activities:

                                       

Borrowings under senior secured revolving credit facility

                299,255             299,255  

Proceeds from the exercise of options and warrants

                42,437             42,437  

Excess tax benefit related to share-based compensation

                9,287             9,287  

Net borrowings under working capital facilities

          4,939                   4,939  

Payment of deferred financing costs

                  (263

)

          (263

)

Repayment of subordinated unsecured notes payable

    (333

)

                      (333

)

Payment of contingent earnout obligation

          (4,362

)

                (4,362

)

Repayment under senior secured revolving credit facility

                (200,429

)

          (200,429

)

Intercompany notes and investments and other

    150,234             (150,287

)

          (53

)

Net cash provided by (used in) financing activities

    149,901       577                   150,478  

Exchange rate impact on cash and cash equivalents

          (592

)

                (592

)

Net increase (decrease) in cash and cash equivalents

    (372

)

    (2,706 )                 (3,078

)

Cash and cash equivalents, beginning of year

    760       12,069                   12,829  

Cash and cash equivalents, end of year

  $ 388     $ 9,363     $     $     $ 9,751