Condensed Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Statement Of Income

Three Months Ended September 30, 2014	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	2,261,448		$	141,086		$	(16,408	)	$	2,386,126
Cost of goods sold	—			2,047,328			62,850			(16,535		)	2,093,643
Gross margin	—			214,120			78,236			127			292,483
Selling, general and administrative expenses	25			155,950			75,402			—			231,377
Acquisition-related and exit and realignment charges	—			7,893			6,064			—			13,957
Depreciation and amortization	—			8,966			4,875			—			13,841
Other operating income, net	—			(1,167		)	(1,235		)	333			(2,069		)
Operating earnings (loss)	(25		)	42,478			(6,870		)	(206		)	35,377
Interest expense (income), net	3,925			1,002			(623		)	—			4,304
Loss on early retirement of debt	14,890			—			—			—			14,890
Income (loss) before income taxes	(18,840		)	41,476			(6,247		)	(206		)	16,183
Income tax (benefit) provision	(7,144		)	16,463			(291		)	—			9,028
Equity in earnings of subsidiaries	18,851			—			—			(18,851		)	—
Net income (loss)	7,155			25,013			(5,956		)	(19,057		)	7,155
Other comprehensive income (loss)	(16,797		)	131			(16,795		)	16,664			(16,797		)
Comprehensive income (loss)	$	(9,642	)	$	25,144		$	(22,751	)	$	(2,393	)	$	(9,642	)

Three Months Ended September 30, 2013	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	2,175,663		$	106,784		$	(11,900	)	$	2,270,547
Cost of goods sold	—			1,965,696			43,238			(11,716		)	1,997,218
Gross margin	—			209,967			63,546			(184		)	273,329
Selling, general and administrative expenses	264			151,107			59,973			—			211,344
Acquisition-related and exit and realignment charges	—			1,856			891			—			2,747
Depreciation and amortization	3			8,780			3,658			—			12,441
Other operating income, net	—			(1,454		)	(964		)	—			(2,418		)
Operating earnings (loss)	(267		)	49,678			(12		)	(184		)	49,215
Interest expense (income), net	5,791			(2,364		)	(38		)	—			3,389
Income (loss) before income taxes	(6,058		)	52,042			26			(184		)	45,826
Income tax (benefit) provision	(2,319		)	20,694			(519		)	—			17,856
Equity in earnings of subsidiaries	31,709			—			—			(31,709		)	—
Net income (loss)	27,970			31,348			545			(31,893		)	27,970
Other comprehensive income (loss)	8,549			207			8,341			(8,548		)	8,549
Comprehensive income (loss)	$	36,519		$	31,555		$	8,886		$	(40,441	)	$	36,519

Nine Months Ended September 30, 2014	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	6,596,941		$	398,646		$	(47,222	)	$	6,948,365
Cost of goods sold	—			5,965,607			173,747			(46,941		)	6,092,413
Gross margin	—			631,334			224,899			(281		)	855,952
Selling, general and administrative expenses	36			462,325			220,464			—			682,825
Acquisition-related and exit and realignment charges	—			13,074			11,739			—			24,813
Depreciation and amortization	2			26,703			14,892			—			41,597
Other operating income, net	—			(9,043		)	(3,336		)	333			(12,046		)
Operating earnings (loss)	(38		)	138,275			(18,860		)	(614		)	118,763
Interest expense (income), net	9,328			3,502			(1,937		)	—			10,893
Loss on early retirement of debt	14,890			—			—			—			14,890
Income (loss) before income taxes	(24,256		)	134,773			(16,923		)	(614		)	92,980
Income tax (benefit) provision	(9,299		)	53,989			(4,226		)	—			40,464
Equity in earnings of subsidiaries	67,473			—			—			(67,473		)	—
Net income (loss)	52,516			80,784			(12,697		)	(68,087		)	52,516
Other comprehensive income (loss)	(16,675		)	350			(16,898		)	16,548			(16,675		)
Comprehensive income (loss)	$	35,841		$	81,134		$	(29,595	)	$	(51,539	)	$	35,841

Nine Months Ended September 30, 2013	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	6,473,954		$	313,023		$	(33,969	)	$	6,753,008
Cost of goods sold	—			5,833,900			126,720			(33,424		)	5,927,196
Gross margin	—			640,054			186,303			(545		)	825,812
Selling, general and administrative expenses	1,138			459,780			180,695			—			641,613
Acquisition-related and exit and realignment charges	—			3,116			2,279			—			5,395
Depreciation and amortization	10			26,705			10,632			—			37,347
Other operating income, net	—			(3,597		)	(2,096		)	—			(5,693		)
Operating earnings (loss)	(1,148		)	154,050			(5,207		)	(545		)	147,150
Interest expense (income), net	15,340			(5,096		)	(409		)	—			9,835
Income (loss) before income taxes	(16,488		)	159,146			(4,798		)	(545		)	137,315
Income tax (benefit) provision	(6,327		)	62,758			(2,057		)	—			54,374
Equity in earnings of subsidiaries	93,102			—			—			(93,102		)	—
Net income (loss)	82,941			96,388			(2,741		)	(93,647		)	82,941
Other comprehensive income (loss)	2,797			623			2,195			(2,818		)	2,797
Comprehensive income (loss)	$	85,738		$	97,011		$	(546	)	$	(96,465	)	$	85,738

Condensed Consolidating Balance Sheets

September 30, 2014	Owens & Minor, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated
Balance Sheets
Assets
Current assets
Cash and cash equivalents	$	563,559		$	32,924		$	13,664		$	—		$	610,147
Accounts and notes receivable, net	—			496,444			97,325			(3,629		)	590,140
Merchandise inventories	—			804,409			31,811			(1,744		)	834,476
Other current assets	253			91,582			204,901			(1,295		)	295,441
Total current assets	563,812			1,425,359			347,701			(6,668		)	2,330,204
Property and equipment, net	—			105,689			98,266			—			203,955
Goodwill	—			247,271			27,262			—			274,533
Intangible assets, net	—			16,323			20,134			—			36,457
Due from O&M and subsidiaries	—			409,280			—			(409,280		)	—
Advances to and investment in consolidated subsidiaries	1,587,331			—			—			(1,587,331		)	—
Other assets, net	4,178			68,606			25,965			—			98,749
Total assets	$	2,155,321		$	2,272,528		$	519,328		$	(2,003,279	)	$	2,943,898
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	200,000		$	2,401		$	—		$	—		$	202,401
Accounts payable	6			649,274			46,965			(3,629		)	692,616
Accrued payroll and related liabilities	—			17,033			11,676			—			28,709
Deferred income taxes	—			39,277			129			—			39,406
Other accrued liabilities	26,776			98,147			192,150			(1,492		)	315,581
Total current liabilities	226,782			806,132			250,920			(5,121		)	1,278,713
Long-term debt, excluding current portion	547,765			6,517			9,600			—			563,882
Due to O&M and subsidiaries	373,250			—			36,002			(409,252		)	—
Intercompany debt	—			138,890			—			(138,890		)	—
Deferred income taxes	—			31,158			10,567			—			41,725
Other liabilities	—			48,179			3,875			—			52,054
Total liabilities	1,147,797			1,030,876			310,964			(553,263		)	1,936,374
Equity
Common stock	126,159			—			1,500			(1,500		)	126,159
Paid-in capital	200,961			241,878			261,519			(503,397		)	200,961
Retained earnings (deficit)	687,511			1,006,001			(53,775		)	(952,226		)	687,511
Accumulated other comprehensive income (loss)	(7,107		)	(6,227		)	(880		)	7,107			(7,107		)
Total equity	1,007,524			1,241,652			208,364			(1,450,016		)	1,007,524
Total liabilities and equity	$	2,155,321		$	2,272,528		$	519,328		$	(2,003,279	)	$	2,943,898

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	—		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
Current portion of long-term debt	$	—	$	2,428		$	—		$	—		$	2,428
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 accrued liabilities	6,811		85,367			185,792			—			277,970
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

Nine Months Ended September 30, 2014	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income (loss)	$	52,516		$	80,784		$	(12,697	)	$	(68,087	)	$	52,516
Adjustments to reconcile net income to cash provided by (used for) operating activities:
Equity in earnings of subsidiaries	(67,473		)	—			—			67,473			—
Depreciation and amortization	2			26,703			14,892			—			41,597
Loss on early retirement of debt	14,890			—			—			—			14,890
Share-based compensation expense	—			6,136			—			—			6,136
Provision for losses on accounts and notes receivable	—			146			(502		)	—			(356		)
Deferred income tax expense (benefit)	—			(3,470		)	(3,917		)	—			(7,387		)
Changes in operating assets and liabilities:
Accounts and notes receivable	—			(280		)	(21,628		)	452			(21,456		)
Merchandise inventories	—			(53,410		)	(10,752		)	279			(63,883		)
Accounts payable	6			53,409			174			1,045			54,634
Net change in other assets and liabilities	2,562			(1,907		)	3,638			(1,162		)	3,131
Other, net	(1,162		)	(98		)	2,582			—			1,322
Cash provided by (used for) operating activities	1,341			108,013			(28,210		)	—			81,144
Investing activities:
Additions to property and equipment	—			(24,662		)	(11,507		)	—			(36,169		)
Additions to computer software and intangible assets	—			(15,448		)	(2,540		)	—			(17,988		)
Proceeds from the sale of investment	—			1,937			—			—			1,937
Proceeds from the sale of property and equipment	—			137			14			—			151
Cash used for investing activities	—			(38,036		)	(14,033		)	—			(52,069		)
Financing activities:
Long-term borrowings	547,693			—			—			—			547,693
Change in intercompany advances	2,024			(36,874		)	34,850			—			—
Cash dividends paid	(47,335		)	—			—			—			(47,335		)
Repurchases of common stock	(9,934		)	—			—			—			(9,934		)
Excess tax benefits related to share-based compensation	514			—			—			—			514
Proceeds from exercise of stock options	1,180			—			—			—			1,180
Purchase of noncontrolling interest	—			—			(1,500		)	—			(1,500		)
Debt issuance costs	(4,178		)	—			—			—			(4,178		)
Other, net	(2,137		)	(2,191		)	(1,343		)	—			(5,671		)
Cash provided by (used for) financing activities	487,827			(39,065		)	32,007			—			480,769
Effect of exchange rate changes on cash and cashequivalents	—			—			(1,602		)	—			(1,602		)
Net increase (decrease) in cash and cash equivalents	489,168			30,912			(11,838		)	—			508,242
Cash and cash equivalents at beginning of period	74,391			2,012			25,502			—			101,905
Cash and cash equivalents at end of period	$	563,559		$	32,924		$	13,664		$	—		$	610,147

Nine Months Ended September 30, 2013	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income (loss)	$	82,941		$	96,388		$	(2,741	)	$	(93,647	)	$	82,941
Adjustments to reconcile net income to cash provided by (used for) operating activities:
Equity in earnings of subsidiaries	(93,102		)	—			—			93,102			—
Depreciation and amortization	10			26,705			10,632			—			37,347
Share-based compensation expense	—			5,162			—			—			5,162
Provision for losses on accounts and notes receivable	—			110			69			—			179
Deferred income tax expense	—			11,649			(3,225		)	—			8,424
Changes in operating assets and liabilities:													—
Accounts and notes receivable	—			449			(18,493		)	(2,659		)	(20,703		)
Merchandise inventories	—			(15,068		)	(9,166		)	544			(23,690		)
Accounts payable	—			79,994			11,296			2,660			93,950
Net change in other assets and liabilities	5,264			(21,493		)	(5,056		)	—			(21,285		)
Other, net	972			466			(2,597		)	—			(1,159		)
Cash provided by (used for) operating activities	(3,915		)	184,362			(19,281		)	—			161,166
Investing activities:
Additions to property and equipment	—			(18,972		)	(6,172		)	—			(25,144		)
Additions to computer software and intangible assets	—			(15,534		)	(4,827		)	—			(20,361		)
Proceeds from the sale of property and equipment	—			1,829			191			—			2,020
Cash used for investing activities	—			(32,677		)	(10,808		)	—			(43,485		)
Financing activities:
Change in intercompany advances	114,145			(148,109		)	33,964			—			—
Cash dividends paid	(45,587		)	—			—			—			(45,587		)
Repurchases of common stock	(15,701		)	—			—			—			(15,701		)
Excess tax benefits related to share-based compensation	733			—			—			—			733
Proceeds from exercise of stock options	4,821			—			—			—			4,821
Other, net	(2,526		)	(1,999		)	(2,244		)	—			(6,769		)
Cash provided by (used for) financing activities	55,885			(150,108		)	31,720			—			(62,503		)
Effect of exchange rate changes on cash and cash equivalents	—			—			723			—			723
Net (decrease) increase in cash and cash equivalents	51,970			1,577			2,354			—			55,901
Cash and cash equivalents at beginning of period	58,190			13,641			26,057			—			97,888
Cash and cash equivalents at end of period	$	110,160		$	15,218		$	28,411		$	—		$	153,789