Guarantor Financial Information (Tables)

6 Months Ended

Jun. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Condensed Consolidated Balance Sheet Information

CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION

At June 30, 2015

(in thousands, except share and per share amounts)

	inVentiv Health, Inc.			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	34,983		$	—	$	109,020	$	(92,408	)	$	51,595
Restricted cash		825			—		1,157		—			1,982
Accounts receivable, net of allowances for doubtful accounts		—			252,296		61,759		—			314,055
Unbilled services		—			162,091		44,436		—			206,527
Intercompany receivables		462,405			687,314		77,702		(1,227,421	)		—
Prepaid expenses and other current assets		6,543			11,476		21,021		—			39,040
Income tax receivable		—			587		1,002		—			1,589
Current deferred tax assets		259			12,198		1,264		(6,261	)		7,460
Total current assets		505,015			1,125,962		317,361		(1,326,090	)		622,248
Property and equipment, net		23,392			86,792		16,486		—			126,670
Goodwill		—			889,281		41,293		—			930,574
Intangible assets, net		—			384,350		6,859		—			391,209
Non-current deferred tax assets		—			—		3,952		—			3,952
Deferred financing costs and other assets		65,807			4,272		13,473		—			83,552
Non-current intercompany receivables		967,896			35,073		135		(1,003,104	)		—
Investment in consolidated subsidiaries		697,821			85,988		—		(783,809	)		—
Total assets	$	2,259,931		$	2,611,718	$	399,559	$	(3,113,003	)	$	2,158,205
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current liabilities:
Short-term borrowings, current portion of capital lease obligations and other financing arrangements	$	209		$	16,619	$	87,648	$	(87,482	)	$	16,994
Accrued payroll, accounts payable and accrued expenses		72,845			162,661		59,186		(4,926	)		289,766
Intercompany payables		732,286			474,363		20,772		(1,227,421	)		—
Income taxes payable		—			16		1,297		—			1,313
Deferred revenue and client advances		—			174,914		52,570		—			227,484
Total current liabilities		805,340			828,573		221,473		(1,319,829	)		535,557
Capital lease obligations, net of current portion		—			31,423		54		—			31,477
Long-term debt, net of current portion		2,103,373			—		—		—			2,103,373
Non-current income tax liability		—			5,543		1,383		—			6,926
Deferred tax liability		333			85,315		3,119		(6,261	)		82,506
Other non-current liabilities		37,360			32,108		18,855		—			88,323
Non-current intercompany liabilities		4,734			968,031		30,339		(1,003,104	)		—
Total liabilities		2,951,140			1,950,993		275,223		(2,329,194	)		2,848,162
Total inVentiv Health, Inc. stockholder’s deficit		(691,209	)		660,725		123,084		(783,809	)		(691,209	)
Noncontrolling interest		—			—		1,252		—			1,252
Total stockholder’s deficit		(691,209	)		660,725		124,336		(783,809	)		(689,957	)
Total liabilities and stockholder’s deficit	$	2,259,931		$	2,611,718	$	399,559	$	(3,113,003	)	$	2,158,205

CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION

At December 31, 2014

(in thousands, except share and per share amounts)

	inVentiv Health, Inc.			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	19,643		$	3,439	$	86,014	$	(52,037	)	$	57,059
Restricted cash		569			—		1,148		—			1,717
Accounts receivable, net of allowances for doubtful accounts		—			236,884		65,963		—			302,847
Unbilled services		—			138,100		40,936		—			179,036
Intercompany receivables		389,532			557,758		64,778		(1,012,068	)		—
Prepaid expenses and other current assets		5,301			12,181		20,743		—			38,225
Income tax receivable		—			310		1,053		—			1,363
Current deferred tax assets		259			12,198		1,316		(6,261	)		7,512
Total current assets		415,304			960,870		281,951		(1,070,366	)		587,759
Property and equipment, net		21,665			82,857		17,337		—			121,859
Goodwill		—			889,281		42,506		—			931,787
Intangible assets, net		—			410,059		7,765		—			417,824
Non-current deferred tax assets		—			—		3,944		—			3,944
Deferred financing costs and other assets		75,296			3,519		12,447		—			91,262
Non-current intercompany receivables		944,664			44,585		132		(989,381	)		—
Investment in consolidated subsidiaries		689,216			86,242		—		(775,458	)		—
Total assets	$	2,146,145		$	2,477,413	$	366,082	$	(2,835,205	)	$	2,154,435
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current liabilities:
Short-term borrowings, current portion of capital lease obligations and other financing arrangements	$	4,006		$	14,025	$	50,271	$	(52,037	)	$	16,265
Accrued payroll, accounts payable and accrued expenses		70,593			154,523		61,497		—			286,613
Intercompany payables		562,297			418,920		30,851		(1,012,068	)		—
Income taxes payable		222			—		987		—			1,209
Deferred revenue and client advances		—			150,709		48,421		—			199,130
Total current liabilities		637,118			738,177		192,027		(1,064,105	)		503,217
Capital lease obligations, net of current portion		—			29,126		198		—			29,324
Long-term debt, net of current portion		2,071,232			—		—		—			2,071,232
Non-current income tax liability		—			5,360		1,101		—			6,461
Deferred tax liability		333			80,860		2,300		(6,261	)		77,232
Other non-current liabilities		37,441			25,175		18,140		—			80,756
Non-current intercompany liabilities		15,202			944,796		29,383		(989,381	)		—
Total liabilities		2,761,326			1,823,494		243,149		(2,059,747	)		2,768,222
Total inVentiv Health, Inc. stockholder’s deficit		(615,181	)		653,919		121,539		(775,458	)		(615,181	)
Noncontrolling interest		—			—		1,394		—			1,394
Total stockholder’s deficit		(615,181	)		653,919		122,933		(775,458	)		(613,787	)
Total liabilities and stockholder’s deficit	$	2,146,145		$	2,477,413	$	366,082	$	(2,835,205	)	$	2,154,435

Schedule of Consolidated Statement of Operations

CONSOLIDATED STATEMENT OF OPERATIONS

Three Months Ended June 30, 2015

(in thousands)

	inVentiv Health, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	—		$	382,908		$	112,927		$	(6,418	)	$	489,417
Reimbursed out-of-pocket expenses		—			68,450			14,689			(62	)		83,077
Total revenues		—			451,358			127,616			(6,480	)		572,494
Operating expenses:
Cost of revenues		—			249,948			74,327			(5,885	)		318,390
Reimbursable out-of-pocket expenses		—			68,450			14,689			(62	)		83,077
Selling, general and administrative expenses		20,491			85,823			35,614			(533	)		141,395
Allocation of intercompany costs		(9,900	)		7,935			1,965			—			—
Total operating expenses		10,591			412,156			126,595			(6,480	)		542,862
Operating income (loss)		(10,591	)		39,202			1,021			—			29,632
Interest income (expense), net		(57,088	)		(197	)		165			—			(57,120	)
Intercompany interest income (expense)		23,579			(23,332	)		(247	)		—			—
Income (loss) before income tax (provision) benefit and income (loss) from equity investments		(44,100	)		15,673			939			—			(27,488	)
Income tax (provision) benefit		—			(1,650	)		(1,088	)		—			(2,738	)
Income (loss) before income (loss) from equity investments		(44,100	)		14,023			(149	)		—			(30,226	)
Income (loss) from equity investments		13,869			(976	)		—			(12,655	)		238
Net income (loss)		(30,231	)		13,047			(149	)		(12,655	)		(29,988	)
Less: Net (income) loss attributable to the noncontrolling interest		—			—			(243	)		—			(243	)
Net income (loss) attributable to inVentiv Health, Inc.	$	(30,231	)	$	13,047		$	(392	)	$	(12,655	)	$	(30,231	)

CONSOLIDATED STATEMENT OF OPERATIONS

Three Months Ended June 30, 2014

(in thousands)

	inVentiv Health, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	—		$	332,133		$	129,394		$	(11,958	)	$	449,569
Reimbursed out-of-pocket expenses		—			51,271			12,802			(31	)		64,042
Total revenues		—			383,404			142,196			(11,989	)		513,611
Operating expenses:
Cost of revenues		—			219,961			84,145			(11,394	)		292,712
Reimbursable out-of-pocket expenses		—			51,271			12,802			(31	)		64,042
Selling, general and administrative expenses		9,262			97,707			38,810			(564	)		145,215
Allocation of intercompany costs		(11,715	)		8,897			2,818			—			—
Total operating expenses		(2,453	)		377,836			138,575			(11,989	)		501,969
Operating income (loss)		2,453			5,568			3,621			—			11,642
Interest income (expense), net		(53,287	)		(114	)		169			—			(53,232	)
Intercompany interest income (expense)		21,885			(21,230	)		(655	)		—			—
Income (loss) before income tax (provision) benefit and income (loss) from equity investments		(28,949	)		(15,776	)		3,135			—			(41,590	)
Income tax (provision) benefit		—			(3,578	)		(2,175	)		—			(5,753	)
Income (loss) before income (loss) from equity investments		(28,949	)		(19,354	)		960			—			(47,343	)
Income (loss) from equity investments		(24,039	)		(1,535	)		—			25,376			(198	)
Income (loss) from continuing operations		(52,988	)		(20,889	)		960			25,376			(47,541	)
Net income (loss) from discontinued operations, net of tax		—			(5,453	)		—			—			(5,453	)
Net income (loss)		(52,988	)		(26,342	)		960			25,376			(52,994	)
Less: Net (income) loss attributable to the noncontrolling interest		—			—			6			—			6
Net income (loss) attributable to inVentiv Health, Inc.	$	(52,988	)	$	(26,342	)	$	966		$	25,376		$	(52,988	)

CONSOLIDATED STATEMENT OF OPERATIONS

Six Months Ended June 30, 2015

(in thousands)

	inVentiv Health, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	—		$	729,889		$	222,678		$	(12,173	)	$	940,394
Reimbursed out-of-pocket expenses		—			128,066			22,472			(138	)		150,400
Total revenues		—			857,955			245,150			(12,311	)		1,090,794
Operating expenses:
Cost of revenues		—			479,030			141,684			(11,147	)		609,567
Reimbursable out-of-pocket expenses		—			128,066			22,472			(138	)		150,400
Selling, general and administrative expenses		36,578			177,743			70,342			(1,026	)		283,637
Allocation of intercompany costs		(19,800	)		15,879			3,921			—			—
Total operating expenses		16,778			800,718			238,419			(12,311	)		1,043,604
Operating income (loss)		(16,778	)		57,237			6,731			—			47,190
Interest income (expense), net		(113,444	)		(408	)		269			—			(113,583	)
Intercompany interest income (expense)		46,384			(45,987	)		(397	)		—			—
Income (loss) before income tax (provision) benefit and income (loss) from equity investments		(83,838	)		10,842			6,603			—			(66,393	)
Income tax (provision) benefit		—			(4,625	)		(2,641	)		—			(7,266	)
Income (loss) before income (loss) from equity investments		(83,838	)		6,217			3,962			—			(73,659	)
Income (loss) from equity investments		8,522			654			—			(10,467	)		(1,291	)
Net income (loss)		(75,316	)		6,871			3,962			(10,467	)		(74,950	)
Less: Net (income) loss attributable to the noncontrolling interest		—			—			(366	)		—			(366	)
Net income (loss) attributable to inVentiv Health, Inc.	$	(75,316	)	$	6,871		$	3,596		$	(10,467	)	$	(75,316	)

CONSOLIDATED STATEMENT OF OPERATIONS

Six Months Ended June 30, 2014

(in thousands)

	inVentiv Health, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	—		$	642,855		$	253,881		$	(25,362	)	$	871,374
Reimbursed out-of-pocket expenses		—			94,064			26,532			(241	)		120,355
Total revenues		—			736,919			280,413			(25,603	)		991,729
Operating expenses:
Cost of revenues		—			428,244			162,824			(24,098	)		566,970
Reimbursable out-of-pocket expenses		—			94,064			26,532			(241	)		120,355
Selling, general and administrative expenses		17,801			192,601			75,198			(1,264	)		284,336
Allocation of intercompany costs		(23,486	)		17,893			5,593			—			—
Total operating expenses		(5,685	)		732,802			270,147			(25,603	)		971,661
Operating income (loss)		5,685			4,117			10,266			—			20,068
Interest income (expense), net		(105,719	)		(208	)		243			—			(105,684	)
Intercompany interest income (expense)		43,067			(41,736	)		(1,331	)		—			—
Income (loss) before income tax (provision) benefit and income (loss) from equity investments		(56,967	)		(37,827	)		9,178			—			(85,616	)
Income tax (provision) benefit		(127	)		(5,691	)		(1,880	)		—			(7,698	)
Income (loss) before income (loss) from equity investments		(57,094	)		(43,518	)		7,298			—			(93,314	)
Income (loss) from equity investments		(45,139	)		3,903			—			41,000			(236	)
Income (loss) from continuing operations		(102,233	)		(39,615	)		7,298			41,000			(93,550	)
Net income (loss) from discontinued operations, net of tax		—			(8,163	)		—			—			(8,163	)
Net income (loss)		(102,233	)		(47,778	)		7,298			41,000			(101,713	)
Less: Net (income) loss attributable to the noncontrolling interest		—			—			(520	)		—			(520	)
Net income (loss) attributable to inVentiv Health, Inc.	$	(102,233	)	$	(47,778	)	$	6,778		$	41,000		$	(102,233	)

Schedule of Consolidated Statement of Comprehensive Loss

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS

For the Three Months Ended June 30, 2015

(in thousands)

	inVentiv Health, Inc.			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Total
Net income (loss)	$	(30,231	)	$	13,047	$	(149	)	$	(12,655	)	$	(29,988	)
Other comprehensive income (loss):
Foreign currency translation adjustment		4,218			5,113		2,596			(7,709	)		4,218
Total other comprehensive income (loss)		4,218			5,113		2,596			(7,709	)		4,218
Total comprehensive income (loss)		(26,013	)		18,160		2,447			(20,364	)		(25,770	)
Less: Net (income) loss attributable to the noncontrolling interest		—			—		(243	)		—			(243	)
Total comprehensive income (loss) attributable to inVentiv Health, Inc.	$	(26,013	)	$	18,160	$	2,204		$	(20,364	)	$	(26,013	)

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS

For the Three Months Ended June 30, 2014

(in thousands)

	inVentiv Health, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations			Total
Net income (loss)	$	(52,988	)	$	(26,342	)	$	960	$	25,376		$	(52,994	)
Other comprehensive income (loss):
Foreign currency translation adjustment		2,552			2,039			1,318		(3,357	)		2,552
Total other comprehensive income (loss)		2,552			2,039			1,318		(3,357	)		2,552
Total comprehensive income (loss)		(50,436	)		(24,303	)		2,278		22,019			(50,442	)
Less: Net (income) loss attributable to the noncontrolling interest		—			—			6		—			6
Total comprehensive income (loss) attributable to inVentiv Health, Inc.	$	(50,436	)	$	(24,303	)	$	2,284	$	22,019		$	(50,436	)

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS

For the Six Months Ended June 30, 2015

(in thousands)

	inVentiv Health, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Total
Net income (loss)	$	(75,316	)	$	6,871		$	3,962		$	(10,467	)	$	(74,950	)
Other comprehensive income (loss):
Foreign currency translation adjustment		(1,227	)		(322	)		(1,415	)		1,737			(1,227	)
Total other comprehensive income (loss)		(1,227	)		(322	)		(1,415	)		1,737			(1,227	)
Total comprehensive income (loss)		(76,543	)		6,549			2,547			(8,730	)		(76,177	)
Less: Net (income) loss attributable to the noncontrolling interest		—			—			(366	)		—			(366	)
Total comprehensive income (loss) attributable to inVentiv Health, Inc.	$	(76,543	)	$	6,549		$	2,181		$	(8,730	)	$	(76,543	)

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS

For the Six Months Ended June 30, 2014

(in thousands)

	inVentiv Health, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Total
Net income (loss)	$	(102,233	)	$	(47,778	)	$	7,298		$	41,000		$	(101,713	)
Other comprehensive income (loss):
Foreign currency translation adjustment		2,690			1,342			1,152			(2,494	)		2,690
Total other comprehensive income (loss)		2,690			1,342			1,152			(2,494	)		2,690
Total comprehensive income (loss)		(99,543	)		(46,436	)		8,450			38,506			(99,023	)
Less: Net (income) loss attributable to the noncontrolling interest		—			—			(520	)		—			(520	)
Total comprehensive income (loss) attributable to inVentiv Health, Inc.	$	(99,543	)	$	(46,436	)	$	7,930		$	38,506		$	(99,543	)

Schedule of Condensed Consolidated Statement of Cash Flows

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

For the Six Months Ended June 30, 2015

(in thousands)

	inVentiv Health, Inc.			Guarantor Subsidiaries			Non- Guarantor– Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	33,094		$	(19,802	)	$	16,440		$	(4,925	)	$	24,807
Cash flows from investing activities:
Purchases of property and equipment		(6,599	)		(10,285	)		(2,924	)		—			(19,808	)
Proceeds from vehicle sales		—			3,899			—			—			3,899
Return of (disbursements for) investments		224			—			—			—			224
Other, net		(256	)		2,927			—			—			2,671
Net cash provided by (used in) investing activities		(6,631	)		(3,459	)		(2,924	)		—			(13,014	)
Cash flows from financing activities:
Repayments on capital leases		—			(12,375	)		(250	)		—			(12,625	)
Advances from cash pool		(2,065	)		—			37,511			(35,446	)		—
Borrowings under line of credit		153,000			—			—			—			153,000
Repayments on line of credit		(153,000	)		—			—			—			(153,000	)
Payment on installment note related to acquisition		(1,750	)		—			—			—			(1,750	)
Payment of debt issuance costs		(197	)		—			—			—			(197	)
Repayment of other financing arrangements		(1,966	)		(352	)		—			—			(2,318	)
Advances (repayment) of intercompany debt, net		(5,048	)		32,549			(27,501	)		—			—
Other, net		(97	)		—			(508	)		—			(605	)
Net cash provided by (used in) financing activities		(11,123	)		19,822			9,252			(35,446	)		(17,495	)
Effects of foreign currency exchange rate changes on cash		—			—			238			—			238
Net increase (decrease) in cash and cash equivalents		15,340			(3,439	)		23,006			(40,371	)		(5,464	)
Cash and cash equivalents, beginning of period		19,643			3,439			86,014			(52,037	)		57,059
Cash and cash equivalents, end of period	$	34,983		$	—		$	109,020		$	(92,408	)	$	51,595

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

For the Six Months Ended June 30, 2014

(in thousands)

	inVentiv Health, Inc.			Guarantor Subsidiaries			Non- Guarantor– Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net cash provided by (used in) continuing operations	$	(47,017	)	$	(14,384	)	$	(993	)	$	—		$	(62,394	)
Net cash provided by (used in) discontinued operations		—			(5,858	)		—			—			(5,858	)
Net cash provided by (used in) operating activities		(47,017	)		(20,242	)		(993	)		—			(68,252	)
Cash flows from investing activities:
Purchases of property and equipment		(8,736	)		(5,027	)		(3,131	)		—			(16,894	)
Proceeds from vehicle sales		—			1,032			—			—			1,032
Return of (disbursements for) investments		(750	)		—			—			—			(750	)
Other, net		(225	)		3,244			—			—			3,019
Net cash provided by (used in) investing activities		(9,711	)		(751	)		(3,131	)		—			(13,593	)
Cash flows from financing activities:
Repayments on capital leases		—			(5,989	)		(280	)		—			(6,269	)
Advances from cash pool		—			—			41,821			(41,821	)		—
Borrowings under line of credit		134,000			—			—			—			134,000
Repayments on line of credit		(126,000	)		—			—			—			(126,000	)
Payment on installment note related to acquisition		(1,500	)		—			—			—			(1,500	)
Payments of debt issuance costs		(52	)											(52	)
Repayment of other financing arrangements		(1,749	)		(352	)		—			—			(2,101	)
Advances (repayment) of intercompany debt, net		25,156			12,637			(37,793	)		—			—
Other, net		154			—			(477	)		—			(323	)
Net cash provided by (used in) financing activities		30,009			6,296			3,271			(41,821	)		(2,245	)
Effects of foreign currency exchange rate changes on cash		—			—			302			—			302
Net increase (decrease) in cash and cash equivalents		(26,719	)		(14,697	)		(551	)		(41,821	)		(83,788	)
Cash and cash equivalents, beginning of period		33,176			19,838			98,457			(35,244	)		116,227
Cash and cash equivalents, end of period	$	6,457		$	5,141		$	97,906		$	(77,065	)	$	32,439