Note 16 - Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

9 Months Ended

Feb. 28, 2014

Disclosure Text Block Supplement [Abstract]

Condensed Balance Sheet [Table Text Block]

	Immucor, Inc.		Guarantors			Non-Guarantors		Eliminations			Total
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	4,654		(232	)		21,606		-			26,028
Accounts receivable, net		29,899		4,605			32,182		-			66,686
Intercompany receivable		55,103		11,406			7,914		(74,423	)		-
Inventories		21,667		16,657			14,585		(1,801	)		51,108
Deferred income tax assets, current portion		3,599		2,209			377		695			6,880
Prepaid expenses and other current assets		5,494		710			5,447		-			11,651
Total current assets		120,416		35,355			82,111		(75,529	)		162,353
PROPERTY AND EQUIPMENT, net		38,069		16,577			21,316		-			75,962
INVESTMENT IN SUBSIDIARIES		248,548		5,021			3,705		(257,274	)		-
GOODWILL		903,513		42,053			60,212		-			1,005,778
OTHER INTANGIBLE ASSETS, net		598,227		37,480			43,966		-			679,673
DEFERRED FINANCING COSTS		34,736		-			-		-			34,736
OTHER ASSETS		6,394		187			339		-			6,920
Total assets	$	1,949,903		136,673			211,649		(332,803	)		1,965,422
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	8,982		5,154			3,073		-			17,209
Intercompany payable		320		64,030			10,073		(74,423	)		-
Accrued interest and interest rate swap liability		8,359		-			-		-			8,359
Accrued expenses and other current liabilities		7,959		4,653			9,961		-			22,573
Income taxes payable		31,162		(30,612	)		5,330		-			5,880
Deferred revenue, current portion		1,215		15			1,411		-			2,641
Current portion of long-term debt, net of debt discounts		4,606		18			-		-			4,624
Total current liabilities		62,603		43,258			29,848		(74,423	)		61,286
LONG-TERM DEBT, NET OF DEBT DISCOUNTS		1,038,170		15			-		-			1,038,185
DEFERRED REVENUE		22		-			98		-			120
DEFERRED INCOME TAX LIABILITIES		202,925		3,064			12,168		-			218,157
OTHER LONG-TERM LIABILITIES		10,927		128			1,363		-			12,418
Total liabilities		1,314,647		46,465			43,477		(74,423	)		1,330,166
SHAREHOLDERS' EQUITY:
Total shareholders' equity		635,256		90,208			168,172		(258,380	)		635,256
Total liabilities and shareholders' equity	$	1,949,903		136,673			211,649		(332,803	)		1,965,422

	Immucor, Inc.		Guarantors			Non-Guarantors		Eliminations			Total
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	6,971		4,107			18,310		-			29,388
Accounts receivable, net		26,517		5,552			36,017		-			68,086
Intercompany receivable		54,443		7,961			4,313		(66,717	)		-
Inventories		18,551		15,897			12,978		(1,485	)		45,941
Deferred income tax assets, current portion		3,098		1,097			533		562			5,290
Prepaid expenses and other current assets		6,360		483			4,734		-			11,577
Total current assets		115,940		35,097			76,885		(67,640	)		160,282
PROPERTY AND EQUIPMENT, net		40,124		17,060			19,197		-			76,381
INVESTMENT IN SUBSIDIARIES		248,150		5,743			4		(253,897	)		-
GOODWILL		903,802		41,763			57,898		-			1,003,463
OTHER INTANGIBLE ASSETS, net		634,194		39,523			40,886		-			714,603
DEFERRED FINANCING COSTS		39,449		-			-		-			39,449
OTHER ASSETS		6,203		184			405		-			6,792
Total assets	$	1,987,862		139,370			195,275		(321,537	)		2,000,970
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	7,587		3,315			2,736		-			13,638
Intercompany payable		424		59,347			7,440		(67,211	)		-
Accrued expenses and other current liabilities		31,737		5,290			9,711		-			46,738
Income taxes payable		30,879		(30,457	)		3,451		-			3,873
Deferred revenue, current portion		1,086		6			1,160		-			2,252
Current portion of long-term debt, net of debt discounts		6,673		39			-		-			6,712
Total current liabilities		78,386		37,540			24,498		(67,211	)		73,213
LONG-TERM DEBT, net of debt discounts		1,039,250		28			-		-			1,039,278
DEFERRED REVENUE		62		-			99		-			161
DEFERRED INCOME TAX LIABILITIES		214,222		4,861			11,957		-			231,040
OTHER LONG-TERM LIABILITIES		11,236		114			1,222		-			12,572
Total liabilities		1,343,156		42,543			37,776		(67,211	)		1,356,264
SHAREHOLDERS' EQUITY:
Total shareholders' equity		644,706		96,827			157,499		(254,326	)		644,706
Total liabilities and shareholders' equity	$	1,987,862		139,370			195,275		(321,537	)		2,000,970

Condensed Income Statement [Table Text Block]

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
NET SALES	$	57,604			12,252			35,988			(14,865	)		90,979
COST OF SALES (exclusive of amortization shown separately below)		19,737			6,402			21,085			(14,865	)		32,359
GROSS MARGIN		37,867			5,850			14,903			-			58,620
OPERATING EXPENSES:
Research and development		3,212			3,397			129			-			6,738
Selling and marketing		5,673			2,311			6,311			-			14,295
Distribution		2,921			345			1,802			-			5,068
General and administrative		6,943			1,647			1,720			-			10,310
Amortization of intangibles		11,971			658			596			-			13,225
Impairment loss		-			150			-			-			150
Total operating expenses		30,720			8,508			10,558			-			49,786
INCOME (LOSS) FROM OPERATIONS		7,147			(2,658	)		4,345			-			8,834
NON-OPERATING INCOME (EXPENSE):
Interest income		-			6			21			(11	)		16
Interest expense		(21,900	)		-			(11	)		11			(21,900	)
Other, net		(186	)		24			54			-			(108	)
Total non-operating (expense) income		(22,086	)		30			64			-			(21,992	)
(LOSS) INCOME BEFORE INCOME TAXES		(14,939	)		(2,628	)		4,409			-			(13,158	)
(BENEFIT) PROVISION FOR INCOME TAXES		(6,255	)		(952	)		1,404			-			(5,803	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(8,684	)		(1,676	)		3,005			-			(7,355	)
Net (Loss) Income of consolidated subsidiaries		1,329			-			-			(1,329	)		-
NET (LOSS) INCOME	$	(7,355	)		(1,676	)		3,005			(1,329	)		(7,355	)

	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
NET SALES	$	66,455			1,450			30,123			(11,836	)		86,192
COST OF SALES (exclusive of amortization shown separately below)		21,797			1,046			18,990			(11,836	)		29,997
GROSS MARGIN		44,658			404			11,133			-			56,195
OPERATING EXPENSES:
Research and development		3,539			1,315			-			-			4,854
Selling and marketing		5,575			458			5,023			-			11,056
Distribution		2,843			57			1,688			-			4,588
General and administrative		7,583			444			2,419			-			10,446
Amortization of intangibles		11,770			54			583			-			12,407
Total operating expenses		31,310			2,328			9,713			-			43,351
INCOME (LOSS) FROM OPERATIONS		13,348			(1,924	)		1,420			-			12,844
NON-OPERATING INCOME (EXPENSE):
Interest income		-			-			35			(23	)		12
Interest expense		(21,970	)		-			(5	)		23			(21,952	)
Loss on extinguishment of debt		(2,425	)		-			-			-			(2,425	)
Other, net		(139	)		-			(4	)		-			(143	)
Total non-operating net expense		(24,534	)		-			26			-			(24,508	)
(LOSS) INCOME BEFORE INCOME TAXES		(11,186	)		(1,924	)		1,446			-			(11,664	)
(BENEFIT) PROVISION FOR INCOME TAXES		(5,570	)		(695	)		514			-			(5,751	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(5,616	)		(1,229	)		932			-			(5,913	)
Net Income (Loss) of consolidated subsidiaries		(297	)		-			-			297			-
NET (LOSS) INCOME	$	(5,913	)		(1,229	)		932			297			(5,913	)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
NET SALES	$	186,977			40,006			108,941			(48,698	)		287,226
COST OF SALES (exclusive of amortization shown separately below)		62,061			22,696			67,033			(48,698	)		103,092
GROSS MARGIN		124,916			17,310			41,908			-			184,134
OPERATING EXPENSES:
Research and development		10,314			11,654			210			-			22,178
Selling and marketing		18,387			6,847			18,523			-			43,757
Distribution		8,323			1,099			5,202			-			14,624
General and administrative		17,767			5,547			6,220			-			29,534
Amortization of intangibles		35,912			1,992			1,743			-			39,647
Impairment loss		30			150			-			-			180
Acquisition-related items		(4,638	)		-			-			-			(4,638	)
Total operating expenses		86,095			27,289			31,898			-			145,282
INCOME (LOSS) FROM OPERATIONS		38,821			(9,979	)		10,010			-			38,852
NON-OPERATING INCOME (EXPENSE):
Interest income		1			8			55			(36	)		28
Interest expense		(66,182	)		-			(26	)		36			(66,172	)
Other, net		(621	)		97			223			-			(301	)
Total non-operating (expense) income		(66,802	)		105			252			-			(66,445	)
(LOSS) INCOME BEFORE INCOME TAXES		(27,981	)		(9,874	)		10,262			-			(27,593	)
(BENEFIT) PROVISION FOR INCOME TAXES		(11,523	)		(3,406	)		3,238			-			(11,691	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(16,458	)		(6,468	)		7,024			-			(15,902	)
Net (Loss) Income of consolidated subsidiaries		556			-			-			(556	)		-
NET (LOSS) INCOME	$	(15,902	)		(6,468	)		7,024			(556	)		(15,902	)

	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
NET SALES	$	192,414			4,353			90,112			(33,477	)		253,402
COST OF SALES (exclusive of amortization shown separately below)		61,860			2,997			52,884			(33,477	)		84,264
GROSS MARGIN		130,554			1,356			37,228			-			169,138
OPERATING EXPENSES:
Research and development		9,822			4,419			35			-			14,276
Selling and marketing		19,277			1,396			15,545			-			36,218
Distribution		8,653			144			5,020			-			13,817
General and administrative		23,213			1,319			6,843			-			31,375
Amortization of intangibles		35,312			163			1,717			-			37,192
Loss on disposition of fixed assets		1,175			-			-			-			1,175
Total operating expenses		97,452			7,441			29,160			-			134,053
INCOME (LOSS) FROM OPERATIONS		33,102			(6,085	)		8,068			-			35,085
NON-OPERATING INCOME (EXPENSE):
Interest income								74			(52	)		22
Interest expense		(68,726	)		-			(17	)		52			(68,691	)
Loss on extinguishment of debt		(9,111	)		-			-			-			(9,111	)
Other, net		(319	)		-			54			-			(265	)
Total non-operating (expense) income		(78,156	)		-			111			-			(78,045	)
(LOSS) INCOME BEFORE INCOME TAXES		(45,054	)		(6,085	)		8,179			-			(42,960	)
(BENEFIT) PROVISION FOR INCOME TAXES		(16,549	)		(2,260	)		2,796			-			(16,013	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(28,505	)		(3,825	)		5,383			-			(26,947	)
Net Income (Loss) of consolidated subsidiaries		1,558			-			-			(1,558	)		-
NET (LOSS) INCOME	$	(26,947	)		(3,825	)		5,383			(1,558	)		(26,947	)

Condensed Cash Flow Statement [Table Text Block]

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
Net cash provided by (used in) operating activities	$	63			(2,351	)		13,732			(903	)		10,541
Net cash provided by (used in) investing activities		3,096			(1,954	)		(10,545	)		29			(9,374	)
Net cash ( used in) provided by financing activities		(4,975	)		(34	)		(784	)		785			(5,008	)
Effect of exchange rate changes on cash and cash equivalents		(501	)		-			893			89			481
Change in cash and cash equivalents		(2,317	)		(4,339	)		3,296			-			(3,360	)
Cash and cash equivalents at beginning of period		6,971			4,107			18,310			-			29,388
Cash and cash equivalents at end of period	$	4,654			(232	)		21,606			-			26,028

	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
Net cash (used in) provided by operating activities	$	(16,071	)		2,464			8,691			88			(4,828	)
Net cash used in investing activities		(3,798	)		(2,502	)		(615	)		-			(6,915	)
Net cash provided by financing activities		12,543			-			-			-			12,543
Effect of exchange rate changes on cash and cash equivalents		-			-			231			(88	)		142
Change in cash and cash equivalents		(7,326	)		(38	)		8,306			-			942
Cash and cash equivalents at beginning of period		8,093			(144	)		10,629			-			18,578
Cash and cash equivalents at end of period	$	767			(182	)		18,935			-			19,520