Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Statement Of Income

Year ended December 31, 2018	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	8,871,152		$	1,660,763		$	(693,207	)	$	9,838,708
Cost of goods sold	—			8,048,457			1,113,315			(690,027		)	8,471,745
Gross margin	—			822,695			547,448			(3,180		)	1,366,963
Distribution, selling and administrative expenses	(477		)	733,125			529,100			—			1,261,748
Acquisition-related and exit and realignment charges	—			44,340			17,860			—			62,200
Goodwill and intangible asset impairment charges	—			180,006			259,607			—			439,613
Other operating (income) expense, net	—			3,002			(7,426		)	—			(4,424		)
Operating income (loss)	477			(137,778		)	(251,693		)	(3,180		)	(392,174		)
Interest expense, net	21,896			43,021			12,104			—			77,021
Income (loss) before income taxes	(21,419		)	(180,799		)	(263,797		)	(3,180		)	(469,195		)
Income tax (benefit) provision	(5,569		)	(32,037		)	5,423			—			(32,183		)
Equity in earnings (loss) of subsidiaries	(421,162		)	(79,629		)	—			500,791			—
Net income (loss)	(437,012		)	(228,391		)	(269,220		)	497,611			(437,012		)
Other comprehensive income (loss), net of tax	(20,528		)	(14,940		)	(18,873		)	33,813			(20,528		)
Comprehensive income (loss)	$	(457,540	)	$	(243,331	)	$	(288,093	)	$	531,424		$	(457,540	)

Year ended December 31, 2017	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	8,582,868		$	915,350		$	(179,943	)	$	9,318,275
Cost of goods sold	—			7,802,499			524,035			(180,125		)	8,146,409
Gross margin	—			780,369			391,315			182			1,171,866
Distribution, selling and administrative expenses	(395		)	643,073			374,300			—			1,016,978
Acquisition-related and exit and realignment charges	—			52,986			7,721			—			60,707
Other operating (income) expense, net	—			3,887			1,043			—			4,930
Operating income (loss)	395			80,423			8,251			182			89,251
Interest expense, net	27,482			546			3,745			—			31,773
Income (loss) before income taxes	(27,087		)	79,877			4,506			182			57,478
Income tax (benefit) provision	—			(12,409		)	(2,906		)	—			(15,315		)
Equity in earnings (loss) of subsidiaries	99,880			(3,527		)	—			(96,353		)	—
Net income (loss)	72,793			88,759			7,412			(96,171		)	72,793
Other comprehensive income (loss), net of tax	42,399			42,209			42,612			(84,821		)	42,399
Comprehensive income (loss)	$	115,192		$	130,968		$	50,024		$	(180,992	)	$	115,192

Year ended December 31, 2016	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	9,190,660		$	697,559		$	(164,788	)	$	9,723,431
Cost of goods sold	—			8,330,960			370,594			(165,433		)	8,536,121
Gross margin	—			859,700			326,965			645			1,187,310
Distribution, selling and administrative expenses	1,127			670,800			298,497			—			970,424
Acquisition-related and exit and realignment charges	—			15,611			9,064			—			24,675
Other operating (income) expense, net	—			(5,066		)	(2,322		)	—			(7,388		)
Operating income (loss)	(1,127		)	178,355			21,726			645			199,599
Interest expense (income), net	28,901			(4,744		)	2,900			—			27,057
Income (loss) before income taxes	(30,028		)	183,099			18,826			645			172,542
Income tax (benefit) provision	—			61,545			2,210			—			63,755
Equity in earnings (loss) of subsidiaries	138,815			(389		)	—			(138,426		)	—
Net income (loss)	108,787			121,165			16,616			(137,781		)	108,787
Other comprehensive income (loss), net of tax	(15,658		)	(15,480		)	(15,017		)	30,497			(15,658		)
Comprehensive income (loss)	$	93,129		$	105,685		$	1,599		$	(107,284	)	$	93,129

Condensed Consolidating Balance Sheets

December 31, 2018	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Balance Sheets
Assets
Current assets
Cash and cash equivalents	$	37,254		$	657		$	65,456		$	—		$	103,367
Accounts receivable, net	—			745,085			542,228			(463,895		)	823,418
Merchandise inventories	—			1,044,395			250,466			(4,758		)	1,290,103
Other current assets	117			115,539			207,302			(1,268		)	321,690
Total current assets	37,371			1,905,676			1,065,452			(469,921		)	2,538,578
Property and equipment, net	—			199,115			187,608			—			386,723
Goodwill, net	—			130,364			283,758			—			414,122
Intangible assets, net	—			186,771			134,993			—			321,764
Due from O&M and subsidiaries	—			486,669			—			(486,669		)	—
Advances to and investments in consolidated subsidiaries	1,697,191			429,926			—			(2,127,117		)	—
Other assets, net	1,788			53,545			57,268			—			112,601
Total assets	$	1,736,350		$	3,392,066		$	1,729,079		$	(3,083,707	)	$	3,773,788
Liabilities and equity
Current liabilities
Accounts payable	$	—		$	1,147,081		$	437,866		$	(475,358	)	$	1,109,589
Accrued payroll and related liabilities	—			19,954			28,249			—			48,203
Other current liabilities	9,641			137,401			167,177						314,219
Total current liabilities	9,641			1,304,436			633,292			(475,358		)	1,472,011
Long-term debt, excluding current portion	595,856			1,040,664			14,062			—			1,650,582
Due to O&M and subsidiaries	605,558			—			470,318			(1,075,876		)	—
Intercompany debt	—			816,785			752,105			(1,568,890		)	—
Deferred income taxes	—			—			50,852			—			50,852
Other liabilities	6,876			49,442			25,606			—			81,924
Total liabilities	1,217,931			3,211,327			1,946,235			(3,120,124		)	3,255,369
Equity
Common stock	124,588			—			—			—			124,588
Paid-in capital	238,773			174,614			123,865			(298,479		)	238,773
Retained earnings (deficit)	200,670			37,777			(319,636		)	281,859			200,670
Accumulated other comprehensive income (loss)	(45,612		)	(31,652		)	(21,385		)	53,037			(45,612		)
Total equity	518,419			180,739			(217,156		)	36,417			518,419
Total liabilities and equity	$	1,736,350		$	3,392,066		$	1,729,079		$	(3,083,707	)	$	3,773,788

Condensed Consolidating Financial Information

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

Year ended December 31, 2018	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income (loss)	$	(437,012	)	$	(228,391	)	$	(269,220	)	$	497,611		$	(437,012	)
Adjustments to reconcile net income (loss) to cash (used for) provided by operating activities:
Equity in earnings of subsidiaries	421,162			79,629			—			(500,791		)	—
Intercompany dividend				30,000						(30,000		)	—
Depreciation and amortization	—			28,069			73,858			—			101,927
Share-based compensation expense	—			16,376			—			—			16,376
Goodwill and intangible asset impairment charges				180,006			259,607						439,613
Provision for losses on accounts receivable	—			140			9,290			—			9,430
Deferred income tax (benefit) expense	—			(31,435		)	(3,583		)	—			(35,018		)
Changes in operating assets and liabilities:
Accounts receivable	—			(92,751		)	(353,294		)	457,151			11,106
Merchandise inventories	—			93,612			(162,241		)	3,178			(65,451		)
Accounts payable	—			249,004			311,765			(468,590		)	92,179
Net change in other assets and liabilities	2,355			(29,690		)	(7,710		)	11,441			(23,604		)
Other, net	854			5,740			(551		)	—			6,043
Cash provided by (used for) operating activities	(12,641		)	300,309			(142,079		)	(30,000		)	115,589
Investing activities:
Acquisition, net of cash acquired	—			(751,834		)	—			—			(751,834		)
Additions to computer software and intangible assets	—			(15,076		)	(5,736		)	—			(20,812		)
Additions to property and equipment	—			(33,245		)	(11,628		)	—			(44,873		)
Proceeds from sale of property and equipment	—			1,429			261			—			1,690
Cash used for investing activities	—			(798,726		)	(17,103		)	—			(815,829		)
Financing activities:
Change in intercompany advances	87,295			(256,888		)	169,593			—			—
Intercompany dividend	—			—			(30,000		)	30,000			—
Proceeds from issuance of debt	—			695,750			—			—			695,750
Proceeds from revolving credit facility	—			105,500			—			—			105,500
Repayment of debt	—			(16,250		)	—			—			(16,250		)
Financing costs paid	—			(28,512		)	—			—			(28,512		)
Cash dividends paid	(48,200		)	—			—			—			(48,200		)
Other, net	(2,900		)	(1,391		)	(2,926		)	—			(7,217		)
Cash provided by financing activities	36,195			498,209			136,667			30,000			701,071
Effect of exchange rate changes on cash and cash equivalents	—			—			(1,986		)	—			(1,986		)
Net increase (decrease) in cash and cash equivalents	23,554			(208		)	(24,501		)	—			(1,155		)
Cash and cash equivalents at beginning of year	13,700			865			89,957			—			104,522
Cash and cash equivalents at end of year	$	37,254		$	657		$	65,456		$	—		$	103,367

Year ended December 31, 2017	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income	$	72,793		$	88,759		$	7,412		$	(96,171	)	$	72,793
Adjustments to reconcile net income to cash (used for) provided by operating activities:
Equity in earnings of subsidiaries	(99,880		)	3,527			—			96,353			—
Intercompany dividend	—			25,000			—			(25,000		)	—
Depreciation and amortization	—			34,548			24,895			—			59,443
Share-based compensation expense	—			11,911			—			—			11,911
Provision for losses on accounts receivable	—			2,450			224			—			2,674
Deferred income tax (benefit) expense	—			(44,879		)	(5,109		)	—			(49,988		)
Changes in operating assets and liabilities:
Accounts receivable	—			(35,549		)	(61,103		)	(3,358		)	(100,010		)
Merchandise inventories	—			(45,624		)	(11,224		)	(184		)	(57,032		)
Accounts payable	—			141,118			1,775			1,054			143,947
Net change in other assets and liabilities	(1,277		)	(26,456		)	(7,836		)	2,306			(33,263		)
Other, net	(1		)	6,605			(305		)	—			6,299
Cash provided by (used for) operating activities	(28,365		)	161,410			(51,271		)	(25,000		)	56,774
Investing activities:
Acquisition, net of cash acquired	—			(366,569		)	—			—			(366,569		)
Additions to computer software and intangible assets	—			(7,587		)	(8,537		)	—			(16,124		)
Additions to property and equipment	—			(25,270		)	(9,343		)	—			(34,613		)
Proceeds from sale of property and equipment	—			198			465			—			663
Cash used for investing activities	—			(399,228		)	(17,415		)	—			(416,643		)
Financing activities:
Change in intercompany advances	75,969			(170,358		)	94,389			—			—
Intercompany dividend	—			—			(25,000		)	25,000			—
Proceeds from issuance of debt	—			250,000			—			—			250,000
Proceed from revolving credit facility	—			104,600			—			—			104,600
Repayment of debt	—			(3,125		)	—			—			(3,125		)
Financing costs paid	—			(1,798		)	—			—			(1,798		)
Cash dividends paid	(63,151		)	—			—			—			(63,151		)
Repurchases of common stock	(5,000		)	—			—			—			(5,000		)
Other, net	(3,768		)	(1,902		)	(3,050		)	—			(8,720		)
Cash provided by financing activities	4,050			177,417			66,339			25,000			272,806
Effect of exchange rate changes on cash and cash equivalents	—			—			6,097			—			6,097
Net increase (decrease) in cash and cash equivalents	(24,315		)	(60,401		)	3,750			—			(80,966		)
Cash and cash equivalents at beginning of year	38,015			61,266			86,207			—			185,488
Cash and cash equivalents at end of year	$	13,700		$	865		$	89,957		$	—		$	104,522

Condensed Consolidating Financial Information

Year ended December 31, 2016	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income	$	108,787		$	121,165		$	16,616		$	(137,781	)	$	108,787
Adjustments to reconcile net income to cash (used for) provided by operating activities:
Equity in earnings of subsidiaries	(138,815		)	389			—			138,426			—
Depreciation and amortization	—			29,589			25,804			—			55,393
Share-based compensation expense	—			12,042			—			—			12,042
Provision for losses on accounts receivable	—			84			293			—			377
Deferred income tax (benefit) expense	—			6,245			(2,027		)	—			4,218
Changes in operating assets and liabilities:
Accounts receivable	—			(18,581		)	(6,358		)	(305		)	(25,244		)
Merchandise inventories	—			26,666			(3,449		)	(628		)	22,589
Accounts payable	—			20,280			22,862			288			43,430
Net change in other assets and liabilities	180			(26,397		)	(11,342		)	—			(37,559		)
Other, net	1,615			999			1,048			—			3,662
Cash provided by (used for) operating activities	(28,233		)	172,481			43,447			—			187,695
Investing activities:
Additions to computer software and intangible assets	—			(4,004		)	(5,815		)	—			(9,819		)
Additions to property and equipment	—			(10,329		)	(9,973		)	—			(20,302		)
Proceeds from sale of property and equipment	—			125			5,250			—			5,375
Cash used for investing activities	—			(14,208		)	(10,538		)	—			(24,746		)
Financing activities:
Change in intercompany advances	101,424			(100,308		)	(1,116		)	—			—
Cash dividends paid	(63,382		)	—			—			—			(63,382		)
Repurchases of common stock	(71,028		)	—			—			—			(71,028		)
Other, net	(4,050		)	(2,313		)	(1,931		)	—			(8,294		)
Cash used for financing activities	(37,036		)	(102,621		)	(3,047		)	—			(142,704		)
Effect of exchange rate changes on cash and cash equivalents	—			—			4,223			—			4,223
Net increase (decrease) in cash and cash equivalents	(65,269		)	55,652			34,085			—			24,468
Cash and cash equivalents at beginning of year	103,284			5,614			52,122			—			161,020
Cash and cash equivalents at end of year	$	38,015		$	61,266		$	86,207		$	—		$	185,488