Revisions to Financial Statements (Notes)

12 Months Ended

Dec. 31, 2011

Revisions to Financial Statments [Abstract]

Accounting Changes and Error Corrections [Text Block]

Revisions to Financial Statements

During 2011, the Company identified errors to amounts recognized for purchase accounting reserves, primarily relating to legal reserves, compliance audits and other contingent matters. Accordingly, Omnicare revised its financial statements to recognize correcting adjustments. The Company does not believe that these adjustments are material to any prior year's consolidated financial statements. The cumulative income statement impact for the three years ended December 31, 2011 of $1.0 million has been recorded in the income statement for the year ended December 31, 2011. As the impact on each of the years ended December 31, 2010 and 2009 was de minimus, Omnicare has not revised the respective income statements. The balance sheet impacts of the revision are reflected in the following table. Further, the impact on beginning retained earnings of $2.8 million as of January 1, 2009 is presented in the Statement of Stockholders' Equity and is the cumulative income statement impact of the adjustments prior to 2009. This non-cash revision does not impact the Company's previously reported consolidated cash flows from operations for any period.

The following table presents the effects of this correction on the Company's Consolidated Balance Sheet as of December 31, 2010 (in thousands):

	As Reported		Adjustment			As Adjusted
Goodwill	$	4,234,821	$	(51,893	)	$	4,182,928
Total noncurrent assets	4,905,617		(51,893		)	4,853,724
Total assets	$	7,363,413	$	(51,893	)	$	7,311,520
Other current liabilities	$	275,543	$	(40,779	)	$	234,764
Total current liabilities	594,254		(40,779		)	553,475
Deferred income tax liabilities - non current	737,383		34,486			771,869
Other noncurrent liabilities	109,074		(48,417		)	60,657
Total noncurrent liabilities	2,953,215		(13,931		)	2,939,284
Total liabilities	3,547,469		(54,710		)	3,492,759
Retained earnings	1,579,672		2,817			1,582,489
Total stockholders' equity	3,815,944		2,817			3,818,761
Total liabilities and stockholders' equity	$	7,363,413	$	(51,893	)	$	7,311,520