Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Statement Of Income

Condensed Consolidating Financial Information

Year ended December 31, 2014	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	8,910,274		$	626,044		$	(96,136	)	$	9,440,182
Cost of goods sold	—			8,051,350			311,947			(93,081		)	8,270,216
Gross margin	—			858,924			314,097			(3,055		)	1,169,966
Selling, general and administrative expenses	952			623,871			302,154			—			926,977
Acquisition-related and exit and realignment charges	—			15,065			27,736			—			42,801
Depreciation and amortization	2			35,582			21,541			—			57,125
Other operating (income) expense, net	—			(10,261		)	(6,212		)	—			(16,473		)
Operating (loss) earnings	(954		)	194,667			(31,122		)	(3,055		)	159,536
Loss on early retirement of debt	14,890			—			—			—			14,890
Interest expense, net	15,737			1,520			906			—			18,163
Income (loss) before income taxes	(31,581		)	193,147			(32,028		)	(3,055		)	126,483
Income tax (benefit) provision	(1,700		)	65,983			(4,303		)	—			59,980
Equity in earnings of subsidiaries	96,384			—			—			(96,384		)	—
Net income (loss)	66,503			127,164			(27,725		)	(99,439		)	66,503
Other comprehensive income (loss), net of tax	(33,569		)	(3,846		)	(29,539		)	33,385			(33,569		)
Comprehensive income (loss)	$	32,934		$	123,318		$	(57,264	)	$	(66,054	)	$	32,934

Year ended December 31, 2013	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	8,687,131		$	435,035		$	(50,634	)	$	9,071,532
Cost of goods sold	—			7,826,768			177,541			(49,852		)	7,954,457
Gross margin	—			860,363			257,494			(782		)	1,117,075
Selling, general and administrative expenses	2,559			613,394			247,703			—			863,656
Acquisition-related and exit and realignment charges	—			8,130			4,314			—			12,444
Depreciation and amortization	14			35,712			14,860			—			50,586
Other operating (income) expense, net	—			(4,290		)	(3,404		)	—			(7,694		)
Operating (loss) earnings	(2,573		)	207,417			(5,979		)	(782		)	198,083
Interest expense (income), net	11,103			2,550			(555		)	—			13,098
(Loss) income before income taxes	(13,676		)	204,867			(5,424		)	(782		)	184,985
Income tax (benefit) provision	(5,474		)	81,011			(1,434		)	—			74,103
Equity in earnings of subsidiaries	119,084			—			—			(119,084		)	—
Net income (loss)	110,882			123,856			(3,990		)	(119,866		)	110,882
Other comprehensive income (loss), net of tax	9,974			3,838			6,143			(9,981		)	9,974
Comprehensive income (loss)	$	120,856		$	127,694		$	2,153		$	(129,847	)	$	120,856

Condensed Consolidating Financial Information

Year ended December 31, 2012	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	8,731,484		$	165,188		$	(28,348	)	$	8,868,324
Cost of goods sold	—			7,885,030			86,307			(27,667		)	7,943,670
Gross margin	—			846,454			78,881			(681		)	924,654
Selling, general and administrative expenses	1,573			599,046			81,976			—			682,595
Acquisition-related and exit and realignment charges	—			(366		)	10,530			—			10,164
Depreciation and amortization	1			34,944			4,659			—			39,604
Other operating expense (income), net	—			(3,015		)	(1,447		)	—			(4,462		)
Operating (loss) earnings	(1,574		)	215,845			(16,837		)	(681		)	196,753
Interest expense, net	16,677			(3,588		)	308			—			13,397
Income (loss) before income taxes	(18,251		)	219,433			(17,145		)	(681		)	183,356
Income tax (benefit) provision	(7,121		)	85,157			(3,683		)	—			74,353
Equity in earnings of subsidiaries	120,133			—			—			(120,133		)	—
Net income (loss)	109,003			134,276			(13,462		)	(120,814		)	109,003
Other comprehensive income (loss), net of tax	7,088			(2,611		)	9,749			(7,138		)	7,088
Comprehensive income (loss)	$	116,091		$	131,665		$	(3,713	)	$	(127,952	)	$	116,091

Condensed Consolidating Balance Sheets

Condensed Consolidating Financial Information

December 31, 2014	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Balance Sheets
Assets
Current assets
Cash and cash equivalents	$	22,013		$	3,912		$	30,847		$	—		$	56,772
Accounts and notes receivable, net	—			519,951			144,463			(38,222		)	626,192
Merchandise inventories	—			816,915			60,061			(4,519		)	872,457
Other current assets	(24,748		)	90,733			224,220			25,080			315,285
Total current assets	(2,735		)	1,431,511			459,591			(17,661		)	1,870,706
Property and equipment, net	—			110,076			122,903			—			232,979
Goodwill, net	—			247,271			176,005			—			423,276
Intangible assets, net	—			15,805			92,788			—			108,593
Due from O&M and subsidiaries	—			357,304			—			(357,304		)	—
Advances to and investments in consolidated subsidiaries	1,893,767			—			—			(1,893,767		)	—
Other assets, net	4,637			66,836			28,379			—			99,852
Total assets	$	1,895,669		$	2,228,803		$	879,666		$	(2,268,732	)	$	2,735,406
Liabilities and equity
Current liabilities
Accounts payable	$	—		$	567,285		$	54,898		$	(13,337	)	$	608,846
Accrued payroll and related liabilities	—			16,434			15,073			—			31,507
Deferred income taxes	—			39,667			(1,688		)	—			37,979
Other current liabilities	6,441			83,698			236,084			—			326,223
Total current liabilities	6,441			707,084			304,367			(13,337		)	1,004,555
Long-term debt, excluding current portion	547,763			39,915			20,873			—			608,551
Due to O&M and subsidiaries	350,627			—			77,788			(428,415		)	—
Intercompany debt	—			138,890			—			(138,890		)	—
Deferred income taxes	—			33,162			30,739			—			63,901
Other liabilities	—			55,794			11,767			—			67,561
Total liabilities	904,831			974,845			445,534			(580,642		)	1,744,568
Equity													—
Common stock	126,140			—			—			—			126,140
Paid-in capital	202,934			241,877			514,314			(756,191		)	202,934
Retained earnings (deficit)	685,765			1,022,379			(66,479		)	(955,900		)	685,765
Accumulated other comprehensive income (loss)	(24,001		)	(10,298		)	(13,703		)	24,001			(24,001		)
Total equity	990,838			1,253,958			434,132			(1,688,090		)	990,838
Total liabilities and equity	$	1,895,669		$	2,228,803		$	879,666		$	(2,268,732	)	$	2,735,406

Condensed Consolidating Financial Information

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			186,821			—			281,427
Total current liabilities	6,811		737,916			248,659			(3,178		)	990,208
Long-term debt, excluding current portion	204,028		7,228			1,530			—			212,786
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

Condensed Consolidating Financial Information

Year ended December 31, 2014	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income (loss)	$	66,503		$	127,164		$	(27,725	)	$	(99,439	)	$	66,503
Adjustments to reconcile net income to cash (used for) provided by operating activities:
Equity in earnings of subsidiaries	(96,384		)	—			—			96,384			—
Depreciation and amortization	2			35,879			27,526			—			63,407
Loss on early retirement of debt	14,890			—			—			—			14,890
Share-based compensation expense	—			8,369			(162		)	—			8,207
Provision for losses on accounts and notes receivable	—			(36		)	484			—			448
Deferred income tax (benefit) expense	—			1,292			(4,677		)	—			(3,385		)
Changes in operating assets and liabilities:
Accounts and notes receivable	—			(24,440		)	6,185			452			(17,803		)
Merchandise inventories	—			(65,916		)	8,308			279			(57,329		)
Accounts payable	—			(28,580		)	(24,613		)	1,045			(52,148		)
Net change in other assets and liabilities	(455		)	(12,341		)	(14,311		)	1,279			(25,828		)
Other, net	(1,161		)	(9		)	447			—			(723		)
Cash provided by (used for) operating activities of continuing operations	(16,605		)	41,382			(28,538		)	—			(3,761		)
Investing activities:
Acquisitions, net of cash acquired	—			—			(248,536		)	—			(248,536		)
Additions to property and equipment	—			(34,475		)	(13,949		)	—			(48,424		)
Additions to computer software and intangible assets	—			(18,054		)	(4,330		)	—			(22,384		)
Proceeds from the sale of investments				1,937			—						1,937
Proceeds from sale of property and equipment	—			156			—			—			156
Cash used for investing activities of continuing operations	—			(50,436		)	(266,815		)	—			(317,251		)
Financing activities:
Proceeds from issuance of debt	547,693			—			—			—			547,693
Proceeds from revolver	—			33,700			—			—			33,700
Repayment of debt	(217,352		)	—			—			—			(217,352		)
Change in intercompany advances	(287,275		)	(21,106		)	308,381			—			—
Cash dividends paid	(63,104		)	—			—			—			(63,104		)
Repurchases of common stock	(9,934		)	—			—			—			(9,934		)
Financing costs paid	(4,780		)	(611		)	—			—			(5,391		)
Excess tax benefits related to share-based compensation	582			—			—			—			582
Proceeds from exercise of stock options	1,180			—			—			—			1,180
Purchase of NCI							(1,500		)				(1,500		)
Other, net	(2,783		)	(1,029		)	(3,502		)	—			(7,314		)
Cash provided by (used for) financing activities	(35,773		)	10,954			303,379			—			278,560
Effect of exchange rates on cash and cash equivalents	—			—			(2,681		)	—			(2,681		)
Net increase (decrease) in cash and cash equivalents	(52,378		)	1,900			5,345			—			(45,133		)
Cash and cash equivalents at beginning of year	74,391			2,012			25,502			—			101,905
Cash and cash equivalents at end of year	$	22,013		$	3,912		$	30,847		$	—		$	56,772

Condensed Consolidating Financial Information

Year ended December 31, 2013	Owens & Minor, Inc.			Guarantor Subsidiaries				Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income (loss)	$	110,882		$	123,856			$	(3,990	)	$	(119,866	)	$	110,882
Adjustments to reconcile net income to cash provided by (used for) operating activities:
Equity in earnings of subsidiaries	(119,084		)	—				—			119,084			—
Depreciation and amortization	14			35,712				14,860			—			50,586
Share-based compensation expense	—			6,381				—			—			6,381
Deferred income tax (benefit) expense	—			5,821				(2,108		)	—			3,713
Provision for losses on accounts and notes receivable	—			278				509			—			787
Changes in operating assets and liabilities:
Accounts and notes receivable	—			(22,055		)		(16,522		)	(68		)	(38,645		)
Merchandise inventories	—			(170		)		(7,676		)	782			(7,064		)
Accounts payable	(45,300		)	77,320				15,286			68			47,374
Net change in other assets and liabilities	1,774			(12,068		)		(22,043		)	—			(32,337		)
Other, net	(1,541		)	515				(97		)	—			(1,123		)
Cash provided by (used for) operating activities	(53,255		)	215,590			—	(21,781		)	—			140,554
Investing activities:
Additions to computer software and intangible assets	—			(21,773		)		(10,237		)	—			(32,010		)
Additions to property and equipment	—			(21,029		)		(7,090		)	—			(28,119		)
Proceeds from sale of property and equipment	—			2,746				305			—			3,051
Cash used for investing activities	—			(40,056		)		(17,022		)	—			(57,078		)
Financing activities:
Change in intercompany advances	145,354			(184,092		)		38,738			—			—
Cash dividends paid	(60,731		)	—				—			—			(60,731		)
Repurchases of common stock	(18,876		)	—				—			—			(18,876		)
Proceeds from exercise of stock options	5,352			—				—			—			5,352
Excess tax benefits related to share-based compensation	898			—				—			—			898
Other, net	(2,541		)	(3,071		)		(3,011		)	—			(8,623		)
Cash provided by (used for) financing activities	69,456			(187,163		)		35,727			—			(81,980		)
Effect of exchange rate changes on cash and cash equivalents	—			—				2,521			—			2,521
Net increase (decrease) in cash and cash equivalents	16,201			(11,629		)		(555		)	—			4,017
Cash and cash equivalents at beginning of year	58,190			13,641				26,057			—			97,888
Cash and cash equivalents at end of year	$	74,391		$	2,012			$	25,502		$	—		$	101,905

Condensed Consolidating Financial Information

Year ended December 31, 2012	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Cash Flows
Operating activities:
Net income (loss)	$	109,003		$	134,276		$	(13,462	)	$	(120,814	)	$	109,003
Adjustments to reconcile net income to cash provided by (used for) operating activities:
Equity in earnings of subsidiaries	(120,133		)	—			—			120,133			—
Depreciation and amortization	1			34,944			4,659			—			39,604
Deferred income tax expense	—			2,933			(1,873		)	—			1,060
Share-based compensation expense	—			5,697			—			—			5,697
Provision for losses on accounts and notes receivable	—			587			417			—			1,004
Changes in operating assets and liabilities:
Accounts and notes receivable	—			31,513			(7,599		)	3,247			27,161
Merchandise inventories	—			56,235			1,818			681			58,734
Accounts payable	(67,800		)	55,941			(3,585		)	(3,250		)	(18,694		)
Net change in other assets and liabilities	19			(2,653		)	(1,859		)	3			(4,490		)
Other, net	(1,738		)	1,236			(71		)	—			(573		)
Cash provided by (used for) operating activities	(80,648		)	320,709			(21,555		)	—			218,506
Investing activities:
Acquisition, net of cash acquired	—			—			(155,210		)	—			(155,210		)
Additions to property and equipment	—			(4,249		)	(5,583		)	—			(9,832		)
Additions to computer software and intangible assets	—			(27,960		)	(1,171		)	—			(29,131		)
Proceeds from sale of property and equipment	—			1,057			2,241			—			3,298
Cash used for investing activities	—			(31,152		)	(159,723		)	—			(190,875		)
Financing activities:
Change in intercompany advances	86,131			(287,200		)	201,069			—			—
Cash dividends paid	(55,681		)	—			—			—			(55,681		)
Repurchases of common stock	(15,000		)	—			—			—			(15,000		)
Financing costs paid	—			(1,303		)	—			—			(1,303		)
Excess tax benefits related to share-based compensation	1,293			—			—			—			1,293
Proceeds from exercise of stock options	4,986			—			—			—			4,986
Other, net	(2,901		)	(2,222		)	2,413			—			(2,710		)
Cash provided by (used for) financing activities	18,828			(290,725		)	203,482			—			(68,415		)
Effect of exchange rate changes on cash and cash equivalents	—			—			2,734			—			2,734
Net increase (decrease) in cash and cash equivalents	(61,820		)	(1,168		)	24,938			—			(38,050		)
Cash and cash equivalents at beginning of year	120,010			14,809			1,119			—			135,938
Cash and cash equivalents at end of year	$	58,190		$	13,641		$	26,057		$	—		$	97,888