Note 18 - Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

9 Months Ended

Feb. 29, 2016

Notes Tables

Condensed Balance Sheet [Table Text Block]

	Immucor, Inc.		Guarantors			Non-Guarantors		Eliminations			Total
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	2,680		(518	)		10,028		-			12,190
Accounts receivable, net		26,717		6,463			26,790		-			59,970
Intercompany receivable		81,485		23,737			14,788		(120,010	)		-
Inventories, net		21,779		15,917			12,086		(1,938	)		47,844
Deferred income tax assets, current portion		2,511		2,254			508		748			6,021
Prepaid expenses and other current assets		3,864		419			5,534		-			9,817
Total current assets		139,036		48,272			69,734		(121,200	)		135,842
PROPERTY AND EQUIPMENT, net		39,582		12,677			20,529		-			72,788
INVESTMENT IN SUBSIDIARIES		209,211		5,020			3,019		(217,250	)		-
GOODWILL		744,045		47,985			48,811		-			840,841
OTHER INTANGIBLE ASSETS, net		502,355		56,081			50,396		-			608,832
DEFERRED FINANCING COSTS, net		21,072		-			-		-			21,072
OTHER ASSETS		23,877		234			444		(7,250	)		17,305
Total assets	$	1,679,178		170,269			192,933		(345,700	)		1,696,680
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	9,485		3,641			4,429		-			17,555
Intercompany payable		10,709		98,863			10,438		(120,010	)		-
Accrued interest and interest rate swap liability		7,764		-			-		-			7,764
Accrued expenses and other current liabilities		9,098		5,013			5,392		-			19,503
Income taxes payable		30,050		(30,092	)		3,150		-			3,108
Deferred revenue, current portion		1,540		-			1,116		-			2,656
Current portion of long term debt, net of debt discounts		8,878		-			-		-			8,878
Total current liabilities		77,524		77,425			24,525		(120,010	)		59,464
LONG TERM DEBT, net of debt discounts		1,030,478		-			-		-			1,030,478
DEFERRED INCOME TAX LIABILITIES		203,432		(194	)		16,113		-			219,351
OTHER LONG-TERM LIABILITIES		16,885		12,583			8,547		(7,250	)		30,765
Total liabilities		1,328,319		89,814			49,185		(127,260	)		1,340,058
EQUITY:
Shareholders' equity of Immucor, Inc.		350,859		80,455			137,985		(218,440	)		350,859
Noncontrolling interest		-		-			5,763		-			5,763
Total equity		350,859		80,455			143,748		(218,440	)		356,622
Total liabilities and equity	$	1,679,178		170,269			192,933		(345,700	)		1,696,680

	Immucor, Inc.		Guarantors			Non-Guarantors		Eliminations			Total
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	7,080		(263	)		11,546		-			18,363
Accounts receivable, net		30,442		6,014			31,218		-			67,674
Intercompany receivable		68,815		24,201			8,861		(101,877	)		-
Inventories, net		18,361		13,706			11,830		(2,050	)		41,847
Deferred income tax assets, current portion		2,512		2,253			375		791			5,931
Prepaid expenses and other current assets		5,178		426			5,557		-			11,161
Total current assets		132,388		46,337			69,387		(103,136	)		144,976
PROPERTY AND EQUIPMENT, net		38,915		13,849			20,810		-			73,574
INVESTMENT IN SUBSIDIARIES		220,412		5,021			3,019		(228,452	)		-
GOODWILL		744,149		47,640			50,469		-			842,258
OTHER INTANGIBLE ASSETS, net		557,133		59,164			33,997		-			650,294
DEFERRED FINANCING COSTS, net		26,399		-			-		-			26,399
OTHER ASSETS		14,533		310			342		-			15,185
Total assets	$	1,733,929		172,321			178,024		(331,588	)		1,752,686
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	6,297		2,604			4,965		-			13,866
Intercompany payable		2,389		91,547			7,941		(101,877	)		-
Accrued interest and interest swap liability		19,288		-			-		-			19,288
Accrued expenses and other current liabilities		13,758		5,131			7,319		-			26,208
Income taxes payable		30,061		(30,074	)		3,509		-			3,496
Deferred revenue, current portion		1,498		7			1,198		-			2,703
Current portion of long-term debt, net of debt discounts		4,462		7			-		-			4,469
Total current liabilities		77,753		69,222			24,932		(101,877	)		70,030
LONG-TERM DEBT, net of debt discounts		1,033,276		-			-		-			1,033,276
DEFERRED INCOME TAX LIABILITIES		223,232		3,639			9,616		-			236,487
OTHER LONG-TERM LIABILITIES		15,987		11,908			1,317		-			29,212
Total liabilities		1,350,248		84,769			35,865		(101,877	)		1,369,005
SHAREHOLDERS' EQUITY:
Total shareholders' equity		383,681		87,552			142,159		(229,711	)		383,681
Total liabilities and shareholders' equity	$	1,733,929		172,321			178,024		(331,588	)		1,752,686

Condensed Income Statement [Table Text Block]

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
NET SALES	$	57,913			14,370			32,288			(15,678	)		88,893
COST OF SALES (exclusive of amortization shown separately below)		20,150			8,527			21,132			(15,679	)		34,130
GROSS PROFIT		37,763			5,843			11,156			1			54,763
OPERATING EXPENSES:
Research and development		2,970			3,785			408			(253	)		6,910
Selling and marketing		5,745			2,242			5,264						13,251
Distribution		2,288			333			1,534						4,155
General and administrative		8,588			1,289			1,929			(27	)		11,779
Amortization expense		11,972			1,082			521						13,575
Total operating expenses		31,563			8,731			9,656			(280	)		49,670
INCOME (LOSS) FROM OPERATIONS		6,200			(2,888	)		1,500			281			5,093
NON-OPERATING (EXPENSE) INCOME:
Interest income		105						54			(111	)		48
Interest expense		(22,253	)		(118	)		(69	)		111			(22,329	)
Other, net		4,086			92			(4,215	)		(280	)		(317	)
Total non-operating expense		(18,062	)		(26	)		(4,230	)		(280	)		(22,598	)
(LOSS) INCOME BEFORE INCOME TAXES		(11,862	)		(2,914	)		(2,730	)		1			(17,505	)
(BENEFIT) PROVISION FOR INCOME TAXES		(7,727	)		(1,045	)		(73	)					(8,845	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(4,135	)		(1,869	)		(2,657	)		1			(8,660	)
Net Income (Loss) of consolidated subsidiaries		(4,288	)								4,288			-
NET (LOSS) INCOME		(8,423	)		(1,869	)		(2,657	)		4,289			(8,660	)
Net loss attributable to noncontrolling interest								(237	)					(237	)
NET LOSS ATTRIBUTABLE TO IMMUCOR, INC.	$	(8,423	)		(1,869	)		(2,420	)		4,289			(8,423	)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
NET SALES	$	63,013			14,119			37,015			(18,542	)		95,605
COST OF SALES (exclusive of amortization shown separately below)		18,743			9,410			24,360			(18,542	)		33,971
GROSS PROFIT		44,270			4,709			12,655			-			61,634
OPERATING EXPENSES:
Research and development		3,087			4,019			174			-			7,280
Selling and marketing		5,973			2,431			5,109			-			13,513
Distribution		2,772			450			1,764			-			4,986
General and administrative		6,056			963			2,343			-			9,362
Amortization expense		11,973			1,079			563			-			13,615
Total operating expenses		29,861			8,942			9,953			-			48,756
INCOME (LOSS) FROM OPERATIONS		14,409			(4,233	)		2,702			-			12,878
NON-OPERATING (EXPENSE) INCOME:
Interest income		23			-			44			(25	)		42
Interest expense		(21,664	)		(136	)		(18	)		25			(21,793	)
Other, net		173			(349	)		353			-			177
Total non-operating (expense) income		(21,468	)		(485	)		379			-			(21,574	)
(LOSS) INCOME BEFORE INCOME TAXES		(7,059	)		(4,718	)		3,081			-			(8,696	)
PROVISION (BENEFIT) FOR INCOME TAXES		31,448			(1,560	)		856			-			30,744
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(38,507	)		(3,158	)		2,225			-			(39,440	)
Net (loss) income of consolidated subsidiaries		(933	)		-			-			933			-
NET (LOSS) INCOME	$	(39,440	)		(3,158	)		2,225			933			(39,440	)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
NET SALES	$	185,196			43,423			102,718			(49,483	)		281,854
COST OF SALES (exclusive of amortization shown separately below)		62,491			26,605			67,047			(49,483	)		106,660
GROSS PROFIT		122,705			16,818			35,671			-			175,194
OPERATING EXPENSES:
Research and development		8,919			11,088			746			(253	)		20,500
Selling and marketing		18,820			7,745			15,492			-			42,057
Distribution		7,224			1,056			4,689			-			12,969
General and administrative		22,683			4,117			6,360			(27	)		33,133
Amortization expense		35,916			3,238			1,591			-			40,745
Total operating expenses		93,562			27,244			28,878			(280	)		149,404
INCOME (LOSS) FROM OPERATIONS		29,143			(10,426	)		6,793			280			25,790
NON-OPERATING (EXPENSE) INCOME:
Interest income		183			-			114			(165	)		132
Interest expense		(66,997	)		(350	)		(93	)		165			(67,275	)
Other, net		5,046			(154	)		(4,978	)		(280	)		(366	)
Total non-operating expense		(61,768	)		(504	)		(4,957	)		(280	)		(67,509	)
(LOSS) INCOME BEFORE INCOME TAXES		(32,625	)		(10,930	)		1,836			-			(41,719	)
(BENEFIT) PROVISION FOR INCOME TAXES		(11,612	)		(3,833	)		1,399						(14,046	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(21,013	)		(7,097	)		437			-			(27,673	)
Net Income (Loss) of consolidated subsidiaries		(6,423	)								6,423			-
NET (LOSS) INCOME		(27,436	)		(7,097	)		437			6,423			(27,673	)
Net loss attributable to noncontrolling interest					-			(237	)					(237	)
NET LOSS ATTRIBUTABLE TO IMMUCOR, INC.	$	(27,436	)		(7,097	)		674			6,423			(27,436	)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
NET SALES	$	190,662			42,175			116,637			(55,151	)		294,323
COST OF SALES (exclusive of amortization shown separately below)		59,702			27,403			74,617			(55,151	)		106,571
GROSS PROFIT		130,960			14,772			42,020			-			187,752
OPERATING EXPENSES:
Research and development		8,484			12,385			605			-			21,474
Selling and marketing		18,807			7,624			17,511			-			43,942
Distribution		8,167			1,239			5,936			-			15,342
General and administrative		20,345			3,231			7,367			-			30,943
Amortization expense		35,915			3,232			1,801			-			40,948
Total operating expenses		91,718			27,711			33,220			-			152,649
INCOME (LOSS) FROM OPERATIONS		39,242			(12,939	)		8,800			-			35,103
NON-OPERATING (EXPENSE) INCOME:
Interest income		41			-			167			(77	)		131
Interest expense		(66,553	)		(383	)		(54	)		77			(66,913	)
Other, net		587			(436	)		314			-			465
Total non-operating (expense) income		(65,925	)		(819	)		427			-			(66,317	)
(LOSS) INCOME BEFORE INCOME TAXES		(26,683	)		(13,758	)		9,227			-			(31,214	)
PROVISION (BENEFIT) FOR INCOME TAXES		25,044			(5,035	)		2,774			-			22,783
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(51,727	)		(8,723	)		6,453			-			(53,997	)
Net (Loss) income of consolidated subsidiaries		(2,270	)		-			-			2,270			-
NET (LOSS) INCOME	$	(53,997	)		(8,723	)		6,453			2,270			(53,997	)

Condensed Cash Flow Statement [Table Text Block]

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
Net cash provided by (used in) operating activities	$	10,666			1,423			(1,600	)		(3,648	)		6,841
Net cash provided by (used in) investing activities		(8,860	)		(1,671	)		3,890			(6,009	)		(12,650	)
Net cash provided by (used in) financing activities		(6,475	)		(7	)		(3,517	)		9,517			(482	)
Effect of exchange rate changes on cash and cash equivalents		269			-			(291	)		140			118
Decrease in cash and cash equivalents		(4,400	)		(255	)		(1,518	)		-			(6,173	)
Cash and cash equivalents at beginning of period		7,080			(263	)		11,546			-			18,363
Cash and cash equivalents at end of period	$	2,680			(518	)		10,028			-			12,190

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
Net cash provided by (used in) operating activities	$	304			1,486			1,447			(445	)		2,792
Net cash used in investing activities		(10,188	)		(1,582	)		(7,445	)		-			(19,215	)
Net cash provided by (used in) financing activities		8,025			(18	)		(324	)		324			8,007
Effect of exchange rate changes on cash and cash equivalents		(1,338	)		-			(2,497	)		121			(3,714	)
Decrease in cash and cash equivalents		(3,197	)		(114	)		(8,819	)		-			(12,130	)
Cash and cash equivalents at beginning of period		4,863			(409	)		19,167			-			23,621
Cash and cash equivalents at end of period	$	1,666			(523	)		10,348			-			11,491