XML 76 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
6 Months Ended
Nov. 30, 2014
Nov. 30, 2013
Cash flows provided by (used in) operating activities:    
Net income $ 97.1us-gaap_NetIncomeLoss $ 36.0us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 249.1us-gaap_DepreciationDepletionAndAmortization 242.5us-gaap_DepreciationDepletionAndAmortization
Amortization and write off of deferred financing costs 5.6us-gaap_AmortizationOfFinancingCosts 14.4us-gaap_AmortizationOfFinancingCosts
Stock-based compensation expense 7.6us-gaap_ShareBasedCompensation 8.6us-gaap_ShareBasedCompensation
Provision for (recovery) of doubtful accounts receivable (0.3)us-gaap_ValuationAllowancesAndReservesRecoveries 1.1us-gaap_ValuationAllowancesAndReservesRecoveries
Litigation recoveries (48.3)us-gaap_ProceedsFromLegalSettlements 0us-gaap_ProceedsFromLegalSettlements
Deferred income taxes (47.9)us-gaap_DeferredIncomeTaxExpenseBenefit (103.1)us-gaap_DeferredIncomeTaxExpenseBenefit
Other 0.8us-gaap_OtherNoncashIncomeExpense (7.3)us-gaap_OtherNoncashIncomeExpense
Changes in operating assets and liabilities, net of acquired assets:    
Accounts receivable (12.3)us-gaap_IncreaseDecreaseInAccountsReceivable (39.3)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories (43.5)us-gaap_IncreaseDecreaseInInventories (28.0)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses 17.0us-gaap_IncreaseDecreaseInPrepaidExpense 10.0us-gaap_IncreaseDecreaseInPrepaidExpense
Accounts payable (30.0)us-gaap_IncreaseDecreaseInAccountsPayable (21.0)us-gaap_IncreaseDecreaseInAccountsPayable
Income taxes 68.4us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 10.7us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Accrued interest (2.7)us-gaap_IncreaseDecreaseInInterestPayableNet 1.3us-gaap_IncreaseDecreaseInInterestPayableNet
Accrued wages and commissions (39.8)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities (31.0)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Accrued expenses and other (58.1)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities 76.0us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
Net cash provided by operating activities 162.7us-gaap_NetCashProvidedByUsedInOperatingActivities 170.9us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows provided by (used in) investing activities:    
Proceeds from sales/maturities of investments 15.2us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments 19.0us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments
Purchases of investments (16.3)us-gaap_PaymentsToAcquireInvestments (19.6)us-gaap_PaymentsToAcquireInvestments
Net proceeds from sale of assets 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 0.1us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Capital expenditures (132.1)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (98.5)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Acquisitions, net of cash acquired (0.6)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (0.8)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Net cash used in investing activities (133.8)us-gaap_NetCashProvidedByUsedInInvestingActivities (248.6)us-gaap_NetCashProvidedByUsedInInvestingActivities
Debt:    
Payments under European facilities 0us-gaap_RepaymentsOfLinesOfCredit (2.3)us-gaap_RepaymentsOfLinesOfCredit
Payments under senior secured credit facilities (8.0)us-gaap_ProceedsFromRepaymentsOfSecuredDebt (14.9)us-gaap_ProceedsFromRepaymentsOfSecuredDebt
Proceeds under revolvers 205.0us-gaap_ProceedsFromSecuredLinesOfCredit 159.3us-gaap_ProceedsFromSecuredLinesOfCredit
Payments under revolvers (20.0)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit (7.0)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
Proceeds from senior notes due 2020 and term loans 0us-gaap_ProceedsFromNotesPayable 870.5us-gaap_ProceedsFromNotesPayable
Retirement of term loans (180.0)us-gaap_RepaymentsOfNotesPayable (1,091.6)us-gaap_RepaymentsOfNotesPayable
Payment of fees related to refinancing activities 0bmet_DebtInstrumentRefinancingFeesAndExpenses (15.5)bmet_DebtInstrumentRefinancingFeesAndExpenses
Equity:    
Option exercises 0.3us-gaap_ProceedsFromStockOptionsExercised 0.3us-gaap_ProceedsFromStockOptionsExercised
Net cash provided by (used in) financing activities (2.7)us-gaap_NetCashProvidedByUsedInFinancingActivities (101.2)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate changes on cash 2.7us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (0.5)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Increase (decrease) in cash and cash equivalents 28.9us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (179.4)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 247.6us-gaap_CashAndCashEquivalentsAtCarryingValue 355.6us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 276.5us-gaap_CashAndCashEquivalentsAtCarryingValue 176.2us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosures of cash flow information:    
Interest 155.5us-gaap_InterestPaid 186.6us-gaap_InterestPaid
Income taxes (33.1)us-gaap_IncomeTaxesPaidNet 65.2us-gaap_IncomeTaxesPaidNet
Biomet, Inc. [Member]    
Cash flows provided by (used in) operating activities:    
Net income 97.1us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= bmet_BiometIncMember
36.0us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 249.1us-gaap_DepreciationDepletionAndAmortization
/ dei_LegalEntityAxis
= bmet_BiometIncMember
242.5us-gaap_DepreciationDepletionAndAmortization
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Amortization and write off of deferred financing costs 5.6us-gaap_AmortizationOfFinancingCosts
/ dei_LegalEntityAxis
= bmet_BiometIncMember
14.4us-gaap_AmortizationOfFinancingCosts
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Stock-based compensation expense 7.6us-gaap_ShareBasedCompensation
/ dei_LegalEntityAxis
= bmet_BiometIncMember
8.6us-gaap_ShareBasedCompensation
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Provision for (recovery) of doubtful accounts receivable (0.3)us-gaap_ValuationAllowancesAndReservesRecoveries
/ dei_LegalEntityAxis
= bmet_BiometIncMember
1.1us-gaap_ValuationAllowancesAndReservesRecoveries
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Litigation recoveries (48.3)us-gaap_ProceedsFromLegalSettlements
/ dei_LegalEntityAxis
= bmet_BiometIncMember
0us-gaap_ProceedsFromLegalSettlements
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Deferred income taxes (47.9)us-gaap_DeferredIncomeTaxExpenseBenefit
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(103.1)us-gaap_DeferredIncomeTaxExpenseBenefit
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Other 0.8us-gaap_OtherNoncashIncomeExpense
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(7.3)us-gaap_OtherNoncashIncomeExpense
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Changes in operating assets and liabilities, net of acquired assets:    
Accounts receivable (12.3)us-gaap_IncreaseDecreaseInAccountsReceivable
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(39.3)us-gaap_IncreaseDecreaseInAccountsReceivable
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Inventories (43.5)us-gaap_IncreaseDecreaseInInventories
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(28.0)us-gaap_IncreaseDecreaseInInventories
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Prepaid expenses 17.0us-gaap_IncreaseDecreaseInPrepaidExpense
/ dei_LegalEntityAxis
= bmet_BiometIncMember
10.0us-gaap_IncreaseDecreaseInPrepaidExpense
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Accounts payable (30.0)us-gaap_IncreaseDecreaseInAccountsPayable
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(21.0)us-gaap_IncreaseDecreaseInAccountsPayable
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Income taxes 68.4us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
/ dei_LegalEntityAxis
= bmet_BiometIncMember
10.7us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Accrued interest (2.7)us-gaap_IncreaseDecreaseInInterestPayableNet
/ dei_LegalEntityAxis
= bmet_BiometIncMember
1.3us-gaap_IncreaseDecreaseInInterestPayableNet
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Accrued wages and commissions (39.8)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(31.0)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Accrued expenses and other (58.1)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
/ dei_LegalEntityAxis
= bmet_BiometIncMember
76.0us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Net cash provided by operating activities 162.7us-gaap_NetCashProvidedByUsedInOperatingActivities
/ dei_LegalEntityAxis
= bmet_BiometIncMember
170.9us-gaap_NetCashProvidedByUsedInOperatingActivities
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Cash flows provided by (used in) investing activities:    
Proceeds from sales/maturities of investments 15.2us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments
/ dei_LegalEntityAxis
= bmet_BiometIncMember
19.0us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Purchases of investments (16.3)us-gaap_PaymentsToAcquireInvestments
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(19.6)us-gaap_PaymentsToAcquireInvestments
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Net proceeds from sale of assets 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
/ dei_LegalEntityAxis
= bmet_BiometIncMember
0.1us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Capital expenditures (132.1)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(98.5)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Acquisitions, net of cash acquired (0.6)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(0.8)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Net cash used in investing activities (133.8)us-gaap_NetCashProvidedByUsedInInvestingActivities
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(248.6)us-gaap_NetCashProvidedByUsedInInvestingActivities
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Debt:    
Payments under European facilities 0us-gaap_RepaymentsOfLinesOfCredit
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(2.3)us-gaap_RepaymentsOfLinesOfCredit
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Payments under senior secured credit facilities (8.0)us-gaap_ProceedsFromRepaymentsOfSecuredDebt
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(14.9)us-gaap_ProceedsFromRepaymentsOfSecuredDebt
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Proceeds under revolvers 205.0us-gaap_ProceedsFromSecuredLinesOfCredit
/ dei_LegalEntityAxis
= bmet_BiometIncMember
159.3us-gaap_ProceedsFromSecuredLinesOfCredit
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Payments under revolvers (20.0)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(7.0)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Proceeds from senior notes due 2020 and term loans 0us-gaap_ProceedsFromNotesPayable
/ dei_LegalEntityAxis
= bmet_BiometIncMember
870.5us-gaap_ProceedsFromNotesPayable
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Retirement of term loans (180.0)us-gaap_RepaymentsOfNotesPayable
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(1,091.6)us-gaap_RepaymentsOfNotesPayable
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Payment of fees related to refinancing activities 0bmet_DebtInstrumentRefinancingFeesAndExpenses
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(15.5)bmet_DebtInstrumentRefinancingFeesAndExpenses
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Equity:    
Option exercises 0.3us-gaap_ProceedsFromStockOptionsExercised
/ dei_LegalEntityAxis
= bmet_BiometIncMember
0.3us-gaap_ProceedsFromStockOptionsExercised
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Net cash provided by (used in) financing activities (2.7)us-gaap_NetCashProvidedByUsedInFinancingActivities
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(101.2)us-gaap_NetCashProvidedByUsedInFinancingActivities
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Effect of exchange rate changes on cash 2.7us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(0.5)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Increase (decrease) in cash and cash equivalents 28.9us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ dei_LegalEntityAxis
= bmet_BiometIncMember
(179.4)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Cash and cash equivalents, beginning of period 247.6us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= bmet_BiometIncMember
355.6us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Cash and cash equivalents, end of period 276.5us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= bmet_BiometIncMember
176.2us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Supplemental disclosures of cash flow information:    
Interest 155.5us-gaap_InterestPaid
/ dei_LegalEntityAxis
= bmet_BiometIncMember
186.6us-gaap_InterestPaid
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Income taxes (33.1)us-gaap_IncomeTaxesPaidNet
/ dei_LegalEntityAxis
= bmet_BiometIncMember
65.2us-gaap_IncomeTaxesPaidNet
/ dei_LegalEntityAxis
= bmet_BiometIncMember
Lanx, Inc. [Member]    
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization   1.9us-gaap_DepreciationDepletionAndAmortization
/ us-gaap_BusinessAcquisitionAxis
= bmet_LanxInc.Member
Cash flows provided by (used in) investing activities:    
Acquisitions, net of cash acquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
/ us-gaap_BusinessAcquisitionAxis
= bmet_LanxInc.Member
(148.8)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
/ us-gaap_BusinessAcquisitionAxis
= bmet_LanxInc.Member
Lanx, Inc. [Member] | Biomet, Inc. [Member]    
Cash flows provided by (used in) investing activities:    
Acquisitions, net of cash acquired $ 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
/ us-gaap_BusinessAcquisitionAxis
= bmet_LanxInc.Member
/ dei_LegalEntityAxis
= bmet_BiometIncMember
$ (148.8)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
/ us-gaap_BusinessAcquisitionAxis
= bmet_LanxInc.Member
/ dei_LegalEntityAxis
= bmet_BiometIncMember