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

6 Months Ended

Jun. 30, 2015

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	$	117,343		$	79,102		$	—		$	—	$	196,445
Costs and expenses:
Costs of revenues		76,483			48,368			—			—		124,851
Selling, general and administrative expenses		21,846			20,744			—			—		42,590
Depreciation and amortization		8,168			6,690			—			—		14,858
Total costs and expenses		106,497			75,802			—			—		182,299
Income from operations		10,846			3,300			—			—		14,146
Interest and other expenses, net		6,116			1,979			—			—		8,095
Income before income taxes		4,730			1,321			—			—		6,051
Provision for income taxes		1,116			1,403			—			—		2,519
Net income (loss) before earnings of consolidated subsidiaries	$	3,614		$	(82	)	$	—		$	—	$	3,532
Net income (loss) of consolidated subsidiaries		(82	)		—			(82	)		164		—
Net income (loss)	$	3,532		$	(82	)	$	(82	)	$	164	$	3,532

	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries		Consolidated Totals
Revenues	$	223,392		$	146,081		$	—		$	—	$	369,473
Costs and expenses:
Costs of revenues		147,550			88,336			—			—		235,886
Selling, general and administrative expenses		43,551			39,567			—			—		83,118
Depreciation and amortization		15,888			13,312			—			—		29,200
Total costs and expenses		206,989			141,215			—			—		348,204
Income from operations		16,403			4,866			—			—		21,269
Interest and other expenses, net		11,808			3,864			—			—		15,672
Income before income taxes		4,595			1,002			—			—		5,597
Provision (benefit) for income taxes		(526	)		2,880			—			—		2,354
Net income (loss) before earnings of consolidated subsidiaries	$	5,121		$	(1,878	)	$	—		$	—	$	3,243
Net income (loss) of consolidated subsidiaries		(1,878	)		—			(1,878	)		3,756		—
Net income (loss)	$	3,243		$	(1,878	)	$	(1,878	)	$	3,756	$	3,243

	Guarantor Subsidiaries			Non-Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)		Consolidation and Elimination Entries			Consolidated Totals
Revenues	$	132,125		$	76,613	$	—	$	—		$	208,738
Costs and expenses:
Costs of revenues		88,622			47,803		—		—			136,425
Selling, general and administrative expenses		23,689			19,032		—		—			42,721
Depreciation and amortization		9,071			4,658		—		—			13,729
Total costs and expenses		121,382			71,493		—		—			192,875
Income from operations		10,743			5,120		—		—			15,863
Interest and other expenses, net		27,013			1,554		—		—			28,567
Income (loss) before income taxes		(16,270	)		3,566		—		—			(12,704	)
Provision (benefit) for income taxes		(6,997	)		2,156		—		—			(4,841	)
Net income (loss) before earnings of consolidated subsidiaries	$	(9,273	)	$	1,410	$	—	$	—		$	(7,863	)
Net income (loss) of consolidated subsidiaries		1,410			—		1,410		(2,820	)		—
Net income (loss)	$	(7,863	)	$	1,410	$	1,410	$	(2,820	)	$	(7,863	)

	Guarantor Subsidiaries			Non-Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)		Consolidation and Elimination Entries			Consolidated Totals
Revenues	$	253,843		$	151,211	$	—	$	—		$	405,054
Costs and expenses:
Costs of revenues		170,956			93,645		—		—			264,601
Selling, general and administrative expenses		46,703			38,170		—		—			84,873
Depreciation and amortization		18,482			10,095		—		—			28,577
Total costs and expenses		236,141			141,910		—		—			378,051
Income from operations		17,702			9,301		—		—			27,003
Interest and other expenses, net		33,422			3,149		—		—			36,571
Income (loss) before income taxes		(15,720	)		6,152		—		—			(9,568	)
Provision (benefit) for income taxes		(7,591	)		3,862		—		—			(3,729	)
Net income (loss) before earnings of consolidated subsidiaries	$	(8,129	)	$	2,290	$	—	$	—		$	(5,839	)
Net income (loss) of consolidated subsidiaries		2,290			—		2,290		(4,580	)		—
Net income (loss)	$	(5,839	)	$	2,290	$	2,290	$	(4,580	)	$	(5,839	)

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	$	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

	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)		Consolidation and Elimination Entries			Consolidated Totals
Assets
Current assets:
Cash and cash equivalents	$	90,778	$	14,315	$	—	$	—		$	105,093
Accounts receivable, net		63,157		160,746		—		—			223,903
Intercompany receivable		49,300		—		5,860		(55,160	)		—
Prepaid expenses		8,898		4,735		—		—			13,633
Deferred tax assets		3,938		96		—		—			4,034
Other current assets		—		1,179		—		—			1,179
Total current assets		216,071		181,071		5,860		(55,160	)		347,842
Property, equipment and leasehold improvements, net		11,961		5,524		—		—			17,485
Investment in subsidiaries		218,225		—		728,711		(946,936	)		—
Intercompany notes receivable		174,326		—		174,326		(348,652	)		—
Goodwill		392,231		104,251		—		—			496,482
Intangible assets, net		56,838		27,358		—		—			84,196
Long-term accounts receivable, less current portion		—		52,109		—		—			52,109
Deferred tax assets, noncurrent		43,920		6,762		—		—			50,682
Deferred financing costs, net		9,962		134		—		—			10,096
Other assets		680		1,613		—		—			2,293
Total assets	$	1,124,214	$	378,822	$	908,897	$	(1,350,748	)	$	1,061,185
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable	$	19,285	$	37,972	$	—	$	—		$	57,257
Intercompany payable		5,860		49,300		—		(55,160	)		—
Accrued expenses		17,858		34,023		—		—			51,881
Accrued interest expense		—		—		5,860		—			5,860
Deferred revenue		164		4,744		—		—			4,908
Current portion of contingent earnout obligation		—		4,567		—		—			4,567
Current portion of working capital facilities		—		—		—		—			—
Other current liabilities		4,757		4,493		—		—			9,250
Total current liabilities		47,924		135,099		5,860		(55,160	)		133,723
Senior unsecured notes payable		—		—		500,000		—			500,000
Senior secured revolving credit facility and working capital facilities, less current portion		—		41,730		—		—			41,730
Intercompany notes payable		174,326		174,326		—		(348,652	)		—
Deferred tax liability, noncurrent		9,554		—		—		—			9,554
Other long-term liabilities		3,417		9,088		—		—			12,505
Total liabilities		235,221		360,243		505,860		(403,812	)		697,512
Commitments and contingencies
Stockholders’ equity (deficit)		888,993		18,579		403,037		(946,936	)		363,673
Total liabilities and stockholders' equity (deficit)	$	1,124,214	$	378,822	$	908,897	$	(1,350,748	)	$	1,061,185

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	$	13,234		$	5,521		$	—		$	—	$	18,755
Investing activities:
Cash paid for acquisitions, net		(175,590	)		(9,538	)		—			—		(185,128	)
Purchases of equipment and leasehold improvements, net		(2,864	)		(746	)		—			—		(3,610	)
Working capital and other settlements for acquisitions		(430	)		(1,869	)		—			—		(2,299	)
Cash paid for foreign currency net investment hedge		(5,044	)		—			—			—		(5,044	)
Other		(839	)		—			—			—		(839	)
Net cash used in investing activities		(184,767	)		(12,153	)		—			—		(196,920	)
Financing activities:
Borrowings under senior secured revolving credit facility		—			—			219,995			—		219,995
Proceeds from the exercise of options and warrants					—			23,090			—		23,090
Excess tax benefit related to share-based compensation					—			7,314			—		7,314
Net borrowings under working capital facilities					1,160			—			—		1,160
Payment of deferred financing costs					—			(241	)		—		(241	)
Repayment of subordinated unsecured notes payable		(333	)		—			—			—		(333	)
Repayment under senior secured revolving credit facility		—			—			(78,000	)		—		(78,000	)
Intercompany notes and investments and other		172,105			—			(172,158	)		—		(53	)
Net cash provided by financing activities		171,772			1,160			—			—		172,932
Exchange rate impact on cash and cash equivalents		—			295			—			—		295
Net increase (decrease) in cash and cash equivalents		239			(5,177	)		—			—		(4,938	)
Cash and cash equivalents, beginning of period		760			12,069			—			—		12,829
Cash and cash equivalents, end of period	$	999		$	6,892		$	—		$	—	$	7,891

	Guarantor Subsidiaries			Non-Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries		Consolidated Totals
Net cash provided by operating activities	$	6,735		$	7,316		$	—		$	—	$	14,051
Investing activities:
Cash paid for acquisitions, net		(11,145	)		—			—			—		(11,145	)
Purchases of equipment and leasehold improvements, net		(3,323	)		(1,520	)		—			—		(4,843	)
Working capital and other settlements for acquisitions		(91	)		—			—			—		(91	)
Cash proceeds from foreign currency net investment hedge		2,930			—			—			—		2,930
Other		(1,310	)		—			—			—		(1,310	)
Net cash used in investing activities		(12,939	)		(1,520	)		—			—		(14,459	)
Financing activities:
Borrowings under senior unsecured notes		—			—			500,000			—		500,000
Borrowings under senior secured revolving credit facility		—			—			25,478			—		25,478
Proceeds from the exercise of options and warrants		—			—			11,451			—		11,451
Excess tax benefit related to share-based compensation		—			—			2,147			—		2,147
Net borrowings under working capital facilities		—			827			—			—		827
Repayment of contingent earnout obligation		—			(1,023	)		—			—		(1,023	)
Payment of deferred financing costs		—			(143	)		(8,533	)		—		(8,676	)
Payment for early redemption of senior unsecured notes					—			(14,618	)		—		(14,618	)
Repayment under senior secured revolving credit facility		—			—			(169,331	)		—		(169,331	)
Repayments of senior unsecured notes		—			—			(250,000	)		—		(250,000	)
Intercompany notes and investments and other		96,594			—			(96,594	)		—		—
Net cash provided by (used in) financing activities		96,594			(339	)		—			—		96,255
Exchange rate impact on cash and cash equivalents		—			(505	)		—			—		(505	)
Net increase in cash and cash equivalents		90,390			4,952			—			—		95,342
Cash and cash equivalents, beginning of period		388			9,363			—			—		9,751
Cash and cash equivalents, end of period	$	90,778		$	14,315		$	—		$	—	$	105,093