Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Statement Of Income

Three Months Ended March 31, 2018	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	2,110,861		$	301,266		$	(39,548	)	$	2,372,579
Cost of goods sold	—			1,914,637			172,726			(39,471		)	2,047,892
Gross margin	—			196,224			128,540			(77		)	324,687
Distribution, selling and administrative expenses	(179		)	160,870			123,670			—			284,361
Acquisition-related and exit and realignment charges	—			13,228			1,532			—			14,760
Other operating income, net	—			(583		)	1,932			—			1,349
Operating income (loss)	179			22,709			1,406			(77		)	24,217
Interest expense (income), net	6,741			2,022			1,490			—			10,253
Income (loss) before income taxes	(6,562		)	20,687			(84		)	(77		)	13,964
Income tax (benefit) provision	—			4,456			1,357			—			5,813
Equity in earnings of subsidiaries	14,713			2,210			—			(16,923		)	—
Net income (loss)	8,151			18,441			(1,441		)	(17,000		)	8,151
Other comprehensive income (loss)	9,307			9,363			8,921			(18,284		)	9,307
Comprehensive income (loss)	$	17,458		$	27,804		$	7,480		$	(35,284	)	$	17,458

Three Months Ended March 31, 2017	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	2,193,285		$	186,854		$	(51,566	)	$	2,328,573
Cost of goods sold	—			1,990,186			108,185			(50,978		)	2,047,393
Gross margin	—			203,099			78,669			(588		)	281,180
Distribution, selling and administrative expenses	156			161,235			76,302			—			237,693
Acquisition-related and exit and realignment charges	—			7,799			1,143			—			8,942
Other operating income, net	—			(374		)	(598		)	—			(972		)
Operating income (loss)	(156		)	34,439			1,822			(588		)	35,517
Interest expense (income), net	6,848			(790		)	686			—			6,744
Income (loss) before income taxes	(7,004		)	35,229			1,136			(588		)	28,773
Income tax (benefit) provision	—			8,013			1,975			—			9,988
Equity in earnings of subsidiaries	25,789			(1,105		)	—			(24,684		)	—
Net income (loss)	18,785			26,111			(839		)	(25,272		)	18,785
Other comprehensive income (loss)	5,838			5,644			5,492			(11,136		)	5,838
Comprehensive income (loss)	$	24,623		$	31,755		$	4,653		$	(36,408	)	$	24,623

Condensed Consolidating Balance Sheets

March 31, 2018	Owens & Minor, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated
Balance Sheets
Assets
Current assets
Cash and cash equivalents	$	13,271		$	1,018		$	73,343		$	—		$	87,632
Accounts receivable, net	—			613,000			172,044			(6,889		)	778,155
Merchandise inventories	—			933,024			90,342			(1,655		)	1,021,711
Other current assets	25			111,987			188,263			—			300,275
Total current assets	13,296			1,659,029			523,992			(8,544		)	2,187,773
Property and equipment, net	—			108,770			98,272			—			207,042
Goodwill, net	—			180,006			535,439			—			715,445
Intangible assets, net	—			9,064			169,816			—			178,880
Due from O&M and subsidiaries	—			413,109			—			(413,109		)	—
Advances to and investment in consolidated subsidiaries	2,129,567			566,615			—			(2,696,182		)	—
Other assets, net	—			67,071			35,343			—			102,414
Total assets	$	2,142,863		$	3,003,664		$	1,362,862		$	(3,117,835	)	$	3,391,554
Liabilities and equity
Current liabilities
Accounts payable	$	—		$	841,364		$	123,814		$	(6,908	)	$	958,270
Accrued payroll and related liabilities	—			14,888			15,592			—			30,480
Other accrued liabilities	5,867			166,738			164,625			—			337,230
Total current liabilities	5,867			1,022,990			304,031			(6,908		)	1,325,980
Long-term debt, excluding current portion	545,603			337,024			14,444			—			897,071
Due to O&M and subsidiaries	572,475			—			460,381			(1,032,856		)	—
Intercompany debt	—			138,890			—			(138,890		)	—
Deferred income taxes	—			24,058			49,122			—			73,180
Other liabilities	—			66,152			10,253			—			76,405
Total liabilities	1,123,945			1,589,114			838,231			(1,178,654		)	2,372,636
Equity
Common stock	123,624			—			—			—			123,624
Paid-in capital	228,273			174,614			583,866			(758,480		)	228,273
Retained earnings (deficit)	682,798			1,254,606			(54,857		)	(1,199,749		)	682,798
Accumulated other comprehensive income (loss)	(15,777		)	(14,670		)	(4,378		)	19,048			(15,777		)
Total equity	1,018,918			1,414,550			524,631			(1,939,181		)	1,018,918
Total liabilities and equity	$	2,142,863		$	3,003,664		$	1,362,862		$	(3,117,835	)	$	3,391,554

December 31, 2017	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Balance Sheets
Assets
Current assets
Cash and cash equivalents	$	13,700		$	865		$	89,957		$	—		$	104,522
Accounts receivable, net	—			559,269			206,410			(6,743		)	758,936
Merchandise inventories	—			902,190			89,580			(1,577		)	990,193
Other current assets	100			123,067			205,087			—			328,254
Total current assets	13,800			1,585,391			591,034			(8,320		)	2,181,905
Property and equipment, net	—			107,010			99,480			—			206,490
Goodwill, net	—			180,006			533,805			—			713,811
Intangible assets, net	—			9,582			174,886			—			184,468
Due from O&M and subsidiaries	—			439,654			—			(439,654		)	—
Advances to and investments in consolidated subsidiaries	2,114,853			558,429			—			(2,673,282		)	—
Other assets, net	—			57,724			31,895			—			89,619
Total assets	$	2,128,653		$	2,937,796		$	1,431,100		$	(3,121,256	)	$	3,376,293
Liabilities and equity
Current liabilities
Accounts payable	$	—		$	824,307		$	130,028		$	(6,763	)	$	947,572
Accrued payroll and related liabilities	—			15,504			14,912			—			30,416
Other current liabilities	5,822			140,048			185,875			—			331,745
Total current liabilities	5,822			979,859			330,815			(6,763		)	1,309,733
Long-term debt, excluding current portion	545,352			340,672			14,720			—			900,744
Due to O&M and subsidiaries	562,000			—			506,703			(1,068,703		)	—
Intercompany debt	—			138,890			—			(138,890		)	—
Deferred income taxes	—			25,493			48,754			—			74,247
Other liabilities	—			66,136			9,954			—			76,090
Total liabilities	1,113,174			1,551,050			910,946			(1,214,356		)	2,360,814
Equity
Common stock	122,952			—			—			—			122,952
Paid-in capital	226,937			174,614			583,869			(758,483		)	226,937
Retained earnings (deficit)	690,674			1,236,165			(50,416		)	(1,185,749		)	690,674
Accumulated other comprehensive income (loss)	(25,084		)	(24,033		)	(13,299		)	37,332			(25,084		)
Total equity	1,015,479			$	1,386,746		520,154			(1,906,900		)	1,015,479
Total liabilities and equity	$	2,128,653		$	2,937,796		$	1,431,100		$	(3,121,256	)	$	3,376,293

Condensed Consolidating Statement Of Cash Flows

Three Months Ended March 31, 2018	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income (loss)	$	8,151		$	18,441		$	(1,441	)	$	(17,000	)	$	8,151
Adjustments to reconcile net income to cash provided by (used for) operating activities:
Equity in earnings of subsidiaries	(14,713		)	(2,210		)	—			16,923			—
Depreciation and amortization	—			6,653			11,258			—			17,911
Share-based compensation expense	—			3,035			—			—			3,035
Provision for losses on accounts receivable	—			(724		)	1,797			—			1,073
Deferred income tax expense (benefit)	—			(1,453		)	(29		)	—			(1,482		)
Changes in operating assets and liabilities:
Accounts receivable	—			(53,007		)	34,341			147			(18,519		)
Merchandise inventories	—			(30,834		)	202			76			(30,556		)
Accounts payable	—			17,057			(7,439		)	(140		)	9,478
Net change in other assets and liabilities	121			31,976			(3,187		)	(6		)	28,904
Other, net	250			132			(104		)	—			278
Cash provided by (used for) operating activities	(6,191		)	(10,934		)	35,398			—			18,273
Investing activities:
Additions to property and equipment	—			(5,847		)	(1,227		)	—			(7,074		)
Additions to computer software and intangible assets	—			(6,078		)	(1,008		)	—			(7,086		)
Cash provided by (used for) investing activities	—			(11,925		)	(2,235		)	—			(14,160		)
Financing activities:
Borrowing (repayments) under revolving credit facility	—			(300		)	—			—			(300		)
Repayment of debt	—			(3,125		)	—			—			(3,125		)
Change in intercompany advances	22,949			26,858			(49,807		)	—			—
Cash dividends paid	(16,074		)	—			—			—			(16,074		)
Other, net	(1,113		)	(421		)	(770		)	—			(2,304		)
Cash provided by (used for) financing activities	5,762			23,012			(50,577		)	—			(21,803		)
Effect of exchange rate changes on cash and cashequivalents	—			—			800			—			800
Net increase (decrease) in cash and cash equivalents	(429		)	153			(16,614		)	—			(16,890		)
Cash and cash equivalents at beginning of period	13,700			865			89,957			—			104,522
Cash and cash equivalents at end of period	$	13,271		$	1,018		$	73,343		$	—		$	87,632

Three Months Ended March 31, 2017	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income (loss)	$	18,785		$	26,111		$	(839	)	$	(25,272	)	$	18,785
Adjustments to reconcile net income to cash provided by (used for) operating activities:
Equity in earnings of subsidiaries	(25,789		)	1,105			—			24,684			—
Depreciation and amortization	—			6,876			5,682			—			12,558
Share-based compensation expense	—			2,511			—			—			2,511
Provision for losses on accounts receivable	—			(707		)	104			—			(603		)
Deferred income tax expense (benefit)	—			(825		)	—			—			(825		)
Changes in operating assets and liabilities:
Accounts receivable	—			2,459			(131		)	(774		)	1,554
Merchandise inventories	—			(3,311		)	(30,154		)	688			(32,777		)
Accounts payable	37			(15,051		)	6,999			674			(7,341		)
Net change in other assets and liabilities	164			(3,434		)	(21,695		)	—			(24,965		)
Other, net	214			4,549			(20		)	—			4,743
Cash provided by (used for) operating activities	(6,589		)	20,283			(40,054		)	—			(26,360		)
Investing activities:
Additions to property and equipment	—			(8,141		)	(2,005		)	—			(10,146		)
Additions to computer software and intangible assets	—			(677		)	(3,945		)	—			(4,622		)
Proceeds from the sale of property and equipment	—			45			270			—			315
Cash provided by (used for) investing activities	—			(8,773		)	(5,680		)	—			(14,453		)
Financing activities:
Change in intercompany advances	49,025			(56,375		)	7,350			—			—
Cash dividends paid	(15,740		)	—			—			—			(15,740		)
Other, net	(1,541		)	(516		)	(702		)	—			(2,759		)
Cash provided by (used for) financing activities	31,744			(56,891		)	6,648			—			(18,499		)
Effect of exchange rate changes on cash and cash equivalents	—			—			991			—			991
Net increase (decrease) in cash and cash equivalents	25,155			(45,381		)	(38,095		)	—			(58,321		)
Cash and cash equivalents at beginning of period	38,015			61,266			86,207			—			185,488
Cash and cash equivalents at end of period	$	63,170		$	15,885		$	48,112		$	—		$	127,167