Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Statement Of Income

Three Months Ended June 30, 2014	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	2,187,130		$	137,683		$	(18,955	)	$	2,305,858
Cost of goods sold	—			1,978,815			63,299			(18,528		)	2,023,586
Gross margin	—			208,315			74,384			(427		)	282,272
Selling, general and administrative expenses	61			152,122			73,655			—			225,838
Acquisition-related and exit and realignment charges	—			3,886			3,707			—			7,593
Depreciation and amortization	2			8,790			5,100			—			13,892
Other operating income, net	—			(814		)	(1,338		)	—			(2,152		)
Operating earnings (loss)	(63		)	44,331			(6,740		)	(427		)	37,101
Interest expense (income), net	2,924			791			(373		)	—			3,342
Income (loss) before income taxes	(2,987		)	43,540			(6,367		)	(427		)	33,759
Income tax (benefit) provision	(1,200		)	17,808			(2,725		)	—			13,883
Equity in earnings of subsidiaries	21,663			—			—			(21,663		)	—
Net income (loss)	19,876			25,732			(3,642		)	(22,090		)	19,876
Other comprehensive income (loss)	(443		)	111			(570		)	459			(443		)
Comprehensive income (loss)	$	19,433		$	25,843		$	(4,212	)	$	(21,631	)	$	19,433

Three Months Ended June 30, 2013	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	2,143,576		$	104,259		$	(11,758	)	$	2,236,077
Cost of goods sold	—			1,932,112			42,201			(11,667		)	1,962,646
Gross margin	—			211,464			62,058			(91		)	273,431
Selling, general and administrative expenses	221			152,387			59,940			—			212,548
Acquisition-related and exit and realignment charges	—			397			241			—			638
Depreciation and amortization	3			8,865			3,408			—			12,276
Other operating income, net	—			(1,498		)	(583		)	—			(2,081		)
Operating earnings (loss)	(224		)	51,313			(948		)	(91		)	50,050
Interest expense (income), net	5,154			(1,696		)	(210		)	—			3,248
Income (loss) before income taxes	(5,378		)	53,009			(738		)	(91		)	46,802
Income tax (benefit) provision	(2,045		)	20,594			(618		)	(1		)	17,930
Equity in earnings of subsidiaries	32,205			—			—			(32,205		)	—
Net income (loss)	28,872			32,415			(120		)	(32,295		)	28,872
Other comprehensive income (loss)	1,880			209			1,682			(1,891		)	1,880
Comprehensive income (loss)	$	30,752		$	32,624		$	1,562		$	(34,186	)	$	30,752

Six Months Ended June 30, 2014	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net revenue	$	—		$	4,335,495		$	257,558		$	(30,814	)	$	4,562,239
Cost of goods sold	—			3,918,280			110,897			(30,406		)	3,998,771
Gross margin	—			417,215			146,661			(408		)	563,468
Selling, general and administrative expenses	14			306,372			145,062			—			451,448
Acquisition-related and exit and realignment charges	—			5,180			5,675			—			10,855
Depreciation and amortization	1			17,741			10,014			—			27,756
Other operating income, net	—			(7,877		)	(2,101		)	—			(9,978		)
Operating earnings (loss)	(15		)	95,799			(11,989		)	(408		)	83,387
Interest expense (income), net	5,399			2,034			(844		)	—			6,589
Income (loss) before income taxes	(5,414		)	93,765			(11,145		)	(408		)	76,798
Income tax (benefit) provision	(2,155		)	37,994			(4,403		)	—			31,436
Equity in earnings of subsidiaries	48,621			—			—			(48,621		)	—
Net income (loss)	45,362			55,771			(6,742		)	(49,029		)	45,362
Other comprehensive income (loss)	122			218			(103		)	(115		)	122
Comprehensive income (loss)	$	45,484		$	55,989		$	(6,845	)	$	(49,144	)	$	45,484

Six Months Ended June 30, 2013	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net revenue	$	—		$	4,298,290		$	206,240		$	(22,069	)	$	4,482,461
Cost of goods sold	—			3,868,204			83,483			(21,708		)	3,929,979
Gross margin	—			430,086			122,757			(361		)	552,482
Selling, general and administrative expenses	874			308,735			120,660			—			430,269
Acquisition-related and exit and realignment charges	—			1,259			1,389			—			2,648
Depreciation and amortization	7			17,924			6,974			—			24,905
Other operating income, net	—			(2,142		)	(1,132		)	—			(3,274		)
Operating earnings (loss)	(881		)	104,310			(5,134		)	(361		)	97,934
Interest expense (income), net	9,549			(2,585		)	(518		)	—			6,446
Income (loss) before income taxes	(10,430		)	106,895			(4,616		)	(361		)	91,488
Income tax (benefit) provision	(4,007		)	42,051			(1,526		)	—			36,518
Equity in earnings of subsidiaries	61,393			—			—			(61,393		)	—
Net income (loss)	54,970			64,844			(3,090		)	(61,754		)	54,970
Other comprehensive income (loss)	(5,752		)	416			(6,146		)	5,730			(5,752		)
Comprehensive income (loss)	$	49,218		$	65,260		$	(9,236	)	$	(56,024	)	$	49,218

Condensed Consolidating Balance Sheets

June 30, 2014	Owens & Minor, Inc.		Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated
Balance Sheets
Assets
Current assets
Cash and cash equivalents	$	56,792	$	13,098		$	22,137		$	—		$	92,027
Accounts and notes receivable, net	—		467,878			80,241			(2,940		)	545,179
Merchandise inventories	—		789,732			33,021			(1,871		)	820,882
Other current assets	281		94,250			193,118			195			287,844
Total current assets	57,073		1,364,958			328,517			(4,616		)	1,745,932
Property and equipment, net	—		102,897			104,243			—			207,140
Goodwill, net	—		247,271			28,704			—			275,975
Intangible assets, net	—		16,841			21,838			—			38,679
Due from O&M and subsidiaries	—		435,286			—			(435,286		)	—
Advances to and investment in consolidated subsidiaries	1,582,217		—			—			(1,582,217		)	—
Other assets, net	320		69,262			26,502			1			96,085
Total assets	$	1,639,610	$	2,236,515		$	509,804		$	(2,022,118	)	$	2,363,811
Liabilities and equity
Current liabilities
Accounts payable	$	—	$	650,725		$	50,863		$	(2,940	)	$	698,648
Accrued payroll and related liabilities	—		18,364			11,327			—			29,691
Deferred income taxes	—		38,818			133			—			38,951
Other accrued liabilities	5,938		87,285			157,792			—			251,015
Total current liabilities	5,938		795,192			220,115			(2,940		)	1,018,305
Long-term debt, excluding current portion	203,165		6,759			9,174			—			219,098
Due to O&M and subsidiaries	399,122		—			36,825			(435,947		)	—
Intercompany debt	—		138,890			—			(138,890		)	—
Deferred income taxes	—		30,872			11,208			—			42,080
Other liabilities	—		48,114			4,829			—			52,943
Total liabilities	608,225		1,019,827			282,151			(577,777		)	1,332,426
Equity
Common stock	126,133		—			1,500			(1,500		)	126,133
Paid-in capital	199,019		242,024			258,047			(500,071		)	199,019
Retained earnings (deficit)	696,543		980,988			(47,820		)	(933,168		)	696,543
Accumulated other comprehensive income (loss)	9,690		(6,324		)	15,926			(9,602		)	9,690
Total O&M shareholders’ equity	1,031,385		1,216,688			227,653			(1,444,341		)	1,031,385
Noncontrolling Interest	—		—			—			—			—
Total equity	1,031,385		1,216,688			227,653			(1,444,341		)	1,031,385
Total liabilities and equity	$	1,639,610	$	2,236,515		$	509,804		$	(2,022,118	)	$	2,363,811

December 31, 2013	Owens & Minor, Inc.		Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Balance Sheets
Assets
Current assets
Cash and cash equivalents	$	74,391	$	2,012		$	25,502		$	—		$	101,905
Accounts and notes receivable, net	—		496,310			79,722			(3,178		)	572,854
Merchandise inventories	—		750,999			22,128			(1,464		)	771,663
Other current assets	201		72,049			207,058			202			279,510
Total current assets	74,592		1,321,370			334,410			(4,440		)	1,725,932
Property and equipment, net	2		96,500			95,459			—			191,961
Goodwill, net	—		247,271			28,168			—			275,439
Intangible assets, net	—		17,881			22,525			—			40,406
Due from O&M and subsidiaries	—		377,786			—			(377,786		)	—
Advances to and investments in consolidated subsidiaries	1,533,294		—			—			(1,533,294		)	—
Other assets, net	408		63,848			26,048			—			90,304
Total assets	$	1,608,296	$	2,124,656		$	506,610		$	(1,915,520	)	$	2,324,042
Liabilities and equity
Current liabilities
Accounts payable	$	—	$	595,865		$	51,185		$	(3,178	)	$	643,872
Accrued payroll and related liabilities	—		12,792			10,504			—			23,296
Deferred income taxes	—		41,464			149			—			41,613
Other current liabilities	6,811		87,795			185,792			—			280,398
Total current liabilities	6,811		737,916			247,630			(3,178		)	989,179
Long-term debt, excluding current portion	204,028		7,228			2,559			—			213,815
Due to O&M and subsidiaries	373,544		—			2,910			(376,454		)	—
Intercompany debt	—		138,890			—			(138,890		)	—
Deferred income taxes	—		32,173			11,554			—			43,727
Other liabilities	—		47,816			4,462			—			52,278
Total liabilities	584,383		964,023			269,115			(518,522		)	1,298,999
Equity
Common stock	126,193		—			1,500			(1,500		)	126,193
Paid-in capital	196,605		242,024			259,864			(501,888		)	196,605
Retained earnings (deficit)	691,547		925,184			(41,029		)	(884,155		)	691,547
Accumulated other comprehensive income (loss)	9,568		(6,575		)	16,030			(9,455		)	9,568
Total Owens & Minor, Inc. shareholders’ equity	1,023,913		1,160,633			236,365			(1,396,998		)	1,023,913
Noncontrolling interest	—		—			1,130			—			1,130
Total equity	1,023,913		1,160,633			237,495			(1,396,998		)	1,025,043
Total liabilities and equity	$	1,608,296	$	2,124,656		$	506,610		$	(1,915,520	)	$	2,324,042

Condensed Consolidating Statement Of Cash Flows

Six Months Ended June 30, 2014	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income (loss)	$	45,362		$	55,771		$	(6,742	)	$	(49,029	)	$	45,362
Adjustments to reconcile net income to cash provided by (used for) operating activities:
Equity in earnings of subsidiaries	(48,621		)	—			—			48,621			—
Depreciation and amortization	1			17,741			10,014			—			27,756
Share-based compensation expense	—			4,190			—			—			4,190
Provision for losses on accounts and notes receivable	—			146			188			—			334
Deferred income tax expense (benefit)	—			(4,117		)	(1,034		)	—			(5,151		)
Changes in operating assets and liabilities:
Accounts and notes receivable	—			28,286			428			(237		)	28,477
Merchandise inventories	—			(38,733		)	(10,248		)	406			(48,575		)
Accounts payable	—			54,860			(177		)	239			54,922
Net change in other assets and liabilities	(952		)	(15,272		)	(16,541		)	—			(32,765		)
Other, net	(776		)	(280		)	(22		)	—			(1,078		)
Cash provided by (used for) operating activities	(4,986		)	102,592			(24,134		)	—			73,472
Investing activities:
Proceeds from the sale of investment				1,937									1,937
Additions to property and equipment	—			(16,777		)	(8,880		)	—			(25,657		)
Additions to computer software and intangible assets	—			(12,256		)	(910		)	—			(13,166		)
Proceeds from the sale of property and equipment	—			35			10			—			45
Cash used for investing activities	—			(27,061		)	(9,780		)	—			(36,841		)
Financing activities:
Change in intercompany advances	28,847			(62,995		)	34,148			—			—
Cash dividends paid	(31,564		)	—			—			—			(31,564		)
Repurchases of common stock	(9,448		)	—			—			—			(9,448		)
Excess tax benefits related to share-based compensation	444			—			—			—			444
Proceeds from exercise of stock options	1,180			—			—			—			1,180
Purchase of noncontrolling interest	—			—			(1,500		)	—			(1,500		)
Other, net	(2,072		)	(1,450		)	(919		)	—			(4,441		)
Cash provided by (used for) financing activities	(12,613		)	(64,445		)	31,729			—			(45,329		)
Effect of exchange rate changes on cash and cashequivalents	—			—			(1,180		)	—			(1,180		)
Net increase (decrease) in cash and cash equivalents	(17,599		)	11,086			(3,365		)	—			(9,878		)
Cash and cash equivalents at beginning of period	74,391			2,012			25,502			—			101,905
Cash and cash equivalents at end of period	$	56,792		$	13,098		$	22,137		$	—		$	92,027

Six months ended June 30, 2013	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income (loss)	$	54,970		$	64,844		$	(3,090	)	$	(61,754	)	$	54,970
Adjustments to reconcile net income to cash provided by (used for) operating activities:													—
Equity in earnings of subsidiaries	(61,393		)	—			—			61,393			—
Depreciation and amortization	7			17,924			6,974			—			24,905
Share-based compensation expense	—			3,449			—			—			3,449
Provision for losses on accounts and notes receivable	—			297			18			—			315
Deferred income tax expense	—			7,443			(1,666		)	—			5,777
Changes in operating assets and liabilities:													—
Accounts and notes receivable	—			3,061			426			(1,698		)	1,789
Merchandise inventories	—			(23,151		)	(8,386		)	361			(31,176		)
Accounts payable	—			151,208			38,500			1,698			191,406
Net change in other assets and liabilities	636			(24,934		)	(45,164		)	—			(69,462		)
Other, net	(809		)	331			(2,316		)	—			(2,794		)
Cash provided by (used for) operating activities	(6,589		)	200,472			(14,704		)	—			179,179
Investing activities:
Additions to property and equipment	—			(12,640		)	(3,581		)	—			(16,221		)
Additions to computer software and intangible assets	—			(11,816		)	(3,010		)	—			(14,826		)
Proceeds from the sale of property and equipment	—			59			9			—			68
Cash used for investing activities	—			(24,397		)	(6,582		)	—			(30,979		)
Financing activities:
Change in intercompany advances	143,569			(174,270		)	30,701			—			—
Cash dividends paid	(30,411		)	—			—			—			(30,411		)
Repurchases of common stock	(8,297		)	—			—			—			(8,297		)
Excess tax benefits related to share-based compensation	550			—			—			—			550
Proceeds from exercise of stock options	4,195			—			—			—			4,195
Other, net	(2,510		)	(1,364		)	(1,293		)	—			(5,167		)
Cash provided by (used for) financing activities	107,096			(175,634		)	29,408			—			(39,130		)
Effect of exchange rate changes on cash and cash equivalents	—			—			868			—			868
Net (decrease) increase in cash and cash equivalents	100,507			441			8,990			—			109,938
Cash and cash equivalents at beginning of period	58,190			13,641			26,057			—			97,888
Cash and cash equivalents at end of period	$	158,697		$	14,082		$	35,047		$	—		$	207,826