Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Registrant

	December 31,
	2014			2013
Assets:
Investment in subsidiaries	$	1,330,311		$	1,208,080
Intercompany (payable) receivable	(129,665		)	99,336
Total assets	$	1,200,646		$	1,307,416
Stockholders’ equity:
Common stock	$	83		$	89
Additional paid-in capital	155,802			384,797
Retained earnings	1,064,158			928,720
Accumulated other comprehensive (loss) income	(19,397		)	(6,190		)
Total stockholders’ equity	$	1,200,646		$	1,307,416

The accompanying notes are an integral part of these condensed financial statements.

See accompanying Report of Independent Registered Public Accounting Firm.

VCA Inc. and Subsidiaries

Schedule I — Condensed Financial Information of Registrant — (Continued)

VCA Inc. (Parent Company)

Condensed Statements of Income

(In thousands)

	For the Years Ended December 31,
	2014		2013		2012
Revenue	$	—	$	—	$	—
Direct costs	—		—		—
Gross profit	—		—		—
Selling, general and administrative expense	—		—		—
Loss on sale of assets	—		—		—
Operating income	—		—		—
Interest income, net	—		—		—
Equity interest in income of subsidiaries	135,438		137,511		45,551
Income before provision for income taxes	135,438		137,511		45,551
Provision for income taxes	—		—		—
Net income	135,438		137,511		45,551
Net income attributable to noncontrolling interests	—		—		—
Net income attributable to VCA Inc.	$	135,438	$	137,511	$	45,551

The accompanying notes are an integral part of these condensed financial statements.

See accompanying Report of Independent Registered Public Accounting Firm.

VCA Inc. and Subsidiaries

Schedule I — Condensed Financial Information of Registrant — (Continued)

VCA Inc. (Parent Company)

Condensed Statements of Cash Flows

(In thousands)

	For the Years Ended December 31,
	2014			2013			2012
Cash flows from operating activities:
Net income	$	135,438		$	137,511		$	45,551
Adjustments to reconcile net income to net cash used in operating activities:
Equity interest in earnings of subsidiaries	(135,438		)	(137,511		)	(45,551		)
Increase in intercompany receivable	—			—			—
Net cash used in operating activities	—			—			—
Cash flows provided by investing activities:
Other	(2,859		)	(17,233		)	(9,533		)
Net cash used in investing activities	(2,859		)	(17,233		)	(9,533		)
Cash flows provided by financing activities:
Proceeds from issuance of common stock under stock option plans	2,859			17,233			9,533
Net cash provided by financing activities	2,859			17,233			9,533
Increase (decrease) in cash and cash equivalents	—			—			—
Cash and cash equivalents at beginning of year	—			—			—
Cash and cash equivalents at end of year	$	—		$	—		$	—

The accompanying notes are an integral part of these condensed financial statements.

See accompanying Report of Independent Registered Public Accounting Firm.

VCA Inc. and Subsidiaries

Schedule I — Condensed Financial Information of Registrant — (Continued)

VCA Inc. (Parent Company)

Notes to Condensed Financial Statements

Guarantees

Guarantees

The borrowings under the new senior credit facility are guaranteed by VCA Inc. (“VCA”) and its wholly-owned subsidiaries. Vicar Operating, Inc. (“Vicar”), a wholly-owned subsidiary of VCA, may borrow up to $800 million under a revolving line of credit under the new senior credit facility. VCA’s guarantee under the new senior credit facility is secured by a pledge of substantially all of our consolidated assets, including 65% of the voting equity and 100% of the non-voting equity interest in each of our foreign subsidiaries.

See Note 7, Long-Term Obligations, in our accompanying consolidated financial statements of this annual report on Form 10-K for a five-year schedule of debt maturities.