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

3 Months Ended

Mar. 31, 2016

Notes Tables

Condensed Income Statement [Table Text Block]

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)		Consolidation and Elimination Entries			Consolidated Totals
Revenues	$	121,718		$	74,598	$	—	$	—		$	196,316
Costs and expenses:
Costs of revenues		82,334			45,842		—		—			128,176
Selling, general and administrative expenses		23,014			19,138		—		—			42,152
Depreciation and amortization		9,411			5,437		—		—			14,848
Total costs and expenses		114,759			70,417		—		—			185,176
Income from operations		6,959			4,181		—		—			11,140
Interest and other expenses, net		6,409			1,595		—		—			8,004
Loss before income taxes		550			2,586		—		—			3,136
Provision (benefit) for income taxes		(594	)		1,706		—		—			1,112
Net loss before earnings of consolidated subsidiaries	$	1,144		$	880	$	—	$	—		$	2,024
Net income (loss) of consolidated subsidiaries		880			—		880		(1,760	)		—
Net income (loss)	$	2,024		$	880	$	880	$	(1,760	)	$	2,024

	Guarantor Subsidiaries		Non- Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)		Consolidation and Elimination Entries			Consolidated Totals
Revenues	$	149,439	$	77,064	$	—	$	—		$	226,503
Costs and expenses:
Costs of revenues		102,001		47,125		—		—			149,126
Selling, general and administrative expenses		27,807		19,532		—		—			47,339
Depreciation and amortization		10,753		5,883		—		—			16,636
Total costs and expenses		140,561		72,540		—		—			213,101
Income from operations		8,878		4,524		—		—			13,402
Interest and other expenses, net		7,074		1,325		—		—			8,399
Income before income taxes		1,804		3,199		—		—			5,003
Provision for income taxes		492		1,251		—		—			1,743
Net income before earnings of consolidated subsidiaries	$	1,312	$	1,948	$	—	$	—		$	3,260
Net income (loss) of consolidated subsidiaries		1,948		—		1,948		(3,896	)		—
Net income (loss)	$	3,260	$	1,948	$	1,948	$	(3,896	)	$	3,260

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	$	33,011	$	14,854	$	—	$	—		$	47,865
Accounts receivable, net		68,896		176,553		—		—			245,449
Intercompany receivable		57,394		—		6,245		(63,639	)		—
Prepaid expenses		10,398		6,411		—		—			16,809
Other current assets		848		1,110		—		—			1,958
Total current assets		170,547		198,928		6,245		(63,639	)		312,081
Property, equipment and leasehold improvements, net		12,695		7,450		—		—			20,145
Investment in subsidiaries		280,114		—		800,743		(1,080,857	)		—
Intercompany notes receivable		174,421		—		174,421		(348,842	)		—
Goodwill		398,045		110,252		—		—			508,297
Intangible assets, net		46,423		38,250		—		—			84,673
Long-term accounts receivable, less current portion		—		62,717		—		—			62,717
Deferred tax assets, noncurrent		47,363		3,042		—		—			50,405
Deferred financing costs, net		2,416		104		—		—			2,520
Other assets		725		3,244		—		—			3,969
Total assets	$	1,132,749	$	423,987	$	981,409	$	(1,493,338	)	$	1,044,807
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable	$	24,072	$	36,527	$	—	$	—		$	60,599
Intercompany payable		6,245		57,394		—		(63,639	)		—
Accrued expenses		13,150		47,598		—		—			60,748
Accrued interest expense		—		—		6,245		—			6,245
Deferred revenue		138		3,546		—		—			3,684
Other current liabilities		3,383		5,673		—		—			9,056
Total current liabilities		46,988		150,738		6,245		(63,639	)		140,332
Senior unsecured notes payable		—		—		493,126		—			493,126
Senior secured revolving credit facility and working capital facilities, less current portion		—		35,243		—		—			35,243
Intercompany notes payable		174,421		174,421		—		(348,842	)		—
Deferred tax liability, noncurrent		—		3,333		—		—			3,333
Other long-term liabilities		2,950		9,788		—		—			12,738
Total liabilities		224,359		373,523		499,371		(412,481	)		684,772
Commitments and contingencies
Stockholders’ equity (deficit)		908,390		50,464		482,038		(1,080,857	)		360,035
Total liabilities and stockholders' equity (deficit)	$	1,132,749	$	423,987	$	981,409	$	(1,493,338	)	$	1,044,807

	Guarantor Subsidiaries		Non- Guarantor Subsidiaries		ExamWorks Group, Inc. (Parent Corporation)		Consolidation and Elimination Entries			Consolidated Totals
Assets
Current assets:
Cash and cash equivalents	$	1,554	$	14,445	$	—	$	—		$	15,999
Accounts receivable, net		77,277		171,785		—		—			249,062
Intercompany receivable		61,586		—		13,414		(75,000	)		—
Prepaid expenses		8,083		11,831		—		—			19,914
Other current assets		—		1,078		—		—			1,078
Total current assets		148,500		199,139		13,414		(75,000	)		286,053
Property, equipment and leasehold improvements, net		13,877		8,387		—		—			22,264
Investment in subsidiaries		282,062		—		895,039		(1,177,101	)		—
Intercompany notes receivable		174,413		—		174,413		(348,826	)		—
Goodwill		469,161		112,218		—		—			581,379
Intangible assets, net		76,555		32,854		—		—			109,409
Long-term accounts receivable, less current portion		—		67,495		—		—			67,495
Deferred tax assets, noncurrent		37,467		3,129		—		—			40,596
Deferred financing costs, net		2,296		90		—		—			2,386
Other assets		885		3,293		—		—			4,178
Total assets	$	1,205,216	$	426,605	$	1,082,866	$	(1,600,927	)	$	1,113,760
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable	$	29,192	$	36,756	$	—	$	—		$	65,948
Intercompany payable		13,414		61,586		—		(75,000	)		—
Accrued expenses		11,967		43,294		—		—			55,261
Accrued interest expense		—		—		13,414		—			13,414
Deferred revenue		222		3,276		—		—			3,498
Current portion of contingent earnout obligation		2,556		—		—		—			2,556
Other current liabilities		4,432		2,850		—		—			7,282
Total current liabilities		61,783		147,762		13,414		(75,000	)		147,959
Senior unsecured notes payable		—		—		493,359		—			493,359
Senior secured revolving credit facility and working capital facilities, less current portion		—		32,578		50,000		—			82,578
Intercompany notes payable		174,413		174,413		—		(348,826	)		—
Long-term contingent earnout obligation, less current portion		5,079		—		—		—			5,079
Deferred tax liability, noncurrent		—		3,250		—		—			3,250
Other long-term liabilities		3,232		10,993		—		—			14,225
Total liabilities		244,507		368,996		556,773		(423,826	)		746,450
Commitments and contingencies
Stockholders’ equity (deficit)		960,709		57,609		526,093		(1,177,101	)		367,310
Total liabilities and stockholders' equity (deficit)	$	1,205,216	$	426,605	$	1,082,866	$	(1,600,927	)	$	1,113,760

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	$	2,226		$	3,938		$	—		$	—	$	6,164
Investing activities:
Cash paid for acquisitions, net		(2,299	)		—			—			—		(2,299	)
Purchases of building, equipment and leasehold improvements, net		(1,670	)		(559	)		—			—		(2,229	)
Working capital and other settlements for acquisitions		(91	)		—			—			—		(91	)
Proceeds from foreign currency net investment hedges		4,812			—			—			—		4,812
Other		(1,250	)		—			—			—		(1,250	)
Net cash used in investing activities		(498	)		(559	)		—			—		(1,057	)
Financing activities:
Borrowings under senior secured revolving credit facility		—			—			25,478			—		25,478
Proceeds from the exercise of options and warrants		—			—			8,855			—		8,855
Excess tax benefit related to share-based compensation		—			—			2,086			—		2,086
Net repayments under working capital facilities		—			(132	)		—			—		(132	)
Repayment of contingent earnout obligation		—			(1,023	)		—			—		(1,023	)
Repayment under senior secured revolving credit facility		—			—			(29,331	)		—		(29,331	)
Intercompany notes and investments and other		7,088			—			(7,088	)		—		—
Net cash provided by (used in) financing activities		7,088			(1,155	)		—			—		5,933
Exchange rate impact on cash and cash equivalents		—			(509	)		—			—		(509	)
Net increase in cash and cash equivalents		8,816			1,715			—			—		10,531
Cash and cash equivalents, beginning of period		388			9,363			—			—		9,751
Cash and cash equivalents, end of period	$	9,204		$	11,078		$	—		$	—	$	20,282

	Guarantor Subsidiaries			Non- Guarantor Subsidiaries			ExamWorks Group, Inc. (Parent Corporation)			Consolidation and Elimination Entries		Consolidated Totals
Net cash provided by operating activities	$	13,500		$	2,266		$	—		$	—	$	15,766
Investing activities:
Cash paid for acquisitions, net		(92,348	)		—			—			—		(92,348	)
Purchases of building, equipment and leasehold improvements, net		(1,179	)		(1,558	)		—			—		(2,737	)
Working capital and other settlements for acquisitions		(271	)		—			—			—		(271	)
Proceeds from foreign currency net investment hedge		1,649			—			—			—		1,649
Other		(150	)		—			—			—		(150	)
Net cash used in investing activities		(92,299	)		(1,558	)		—			—		(93,857	)
Financing activities:
Borrowings under senior secured revolving credit facility		—			—			75,000			—		75,000
Excess tax benefit related to share-based compensation		—			—			4,766			—		4,766
Proceeds from the exercise of options and warrants		—			—			582			—		582
Net repayments under working capital facilities		—			(1,623	)		—			—		(1,623	)
Purchases of stock for treasury		—			—			(8,006	)		—		(8,006	)
Repayment under senior secured revolving credit facility		—			—			(25,000	)		—		(25,000	)
Intercompany notes and investments and other		47,342			—			(47,342	)		—		—
Net cash provided by (used in) financing activities		47,342			(1,623	)		—			—		45,719
Exchange rate impact on cash and cash equivalents		—			506			—			—		506
Net decrease in cash and cash equivalents		(31,457	)		(409	)		—			—		(31,866	)
Cash and cash equivalents, beginning of period		33,011			14,854			—			—		47,865
Cash and cash equivalents, end of period	$	1,554		$	14,445		$	—		$	—	$	15,999