Note 15 - Condensed Consolidating Financial Information Of Guarantor Subsidiary (Tables)

3 Months Ended

Aug. 31, 2012

Condensed Consolidating Balance Sheets [Table Text Block]

	Immucor, Inc.		Guarantor		Non-Guarantors		Eliminations			Total
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	1,871	$	-	$	16,379	$	(107	)	$	18,143
Accounts receivable, net		27,357		596		32,569		-			60,522
Intercompany receivable		46,354		10		4,011		(50,375	)		-
Inventories		22,685		1,791		10,663		-			35,139
Deferred income tax assets, current portion		4,168		531		947		-			5,646
Prepaid expenses and other current assets		5,916		31,306		4,536		(30,609	)		11,149
Total current assets		108,351		34,234		69,105		(81,091	)		130,599
PROPERTY AND EQUIPMENT, Net		43,521		2,058		18,741		-			64,320
INVESTMENT IN SUBSIDIARIES		167,680		-		4		(167,684	)		-
GOODWILL		903,512		6,659		57,721		-			967,892
INTANGIBLE ASSETS, Net		670,373		10,384		43,313		-			724,070
DEFERRED FINANCING COSTS		36,121		-		-		-			36,121
OTHER ASSETS		7,815		6,269		382		(6,163	)		8,303
Total assets	$	1,937,373	$	59,604	$	189,266	$	(254,938	)	$	1,931,305
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	9,568	$	1,750	$	2,380	$	-		$	13,698
Intercompany payable		644		42,180		7,551		(50,375	)		-
Accrued expenses and other current liabilities		10,128		1,086		7,892		(107	)		18,999
Income taxes payable		30,723		-		3,316		(30,609	)		3,430
Deferred revenue, current portion		1,437		20		1,431		-			2,888
Current portion of long term debt, net of debt discounts		20,152		-		-		-			20,152
Total current liabilities		72,652		45,036		22,570		(81,091	)		59,167
LONG TERM DEBT, NET OF DEBT DISCOUNTS		987,972		-		-		-			987,972
DEFERRED REVENUE		349		-		33		-			382
DEFERRED INCOME TAX LIABILITIES		231,415		-		12,415		(6,163	)		237,667
OTHER LONG-TERM LIABILITIES		14,486		-		1,132		-			15,618
Total liabilities		1,306,874		45,036		36,150		(87,254	)		1,300,806
SHAREHOLDERS' EQUITY:
Total shareholders' equity		630,499		14,568		153,116		(167,684	)		630,499
Total liabilities and shareholders' equity	$	1,937,373	$	59,604	$	189,266	$	(254,938	)	$	1,931,305

	Immucor, Inc.		Guarantor		Non-Guarantors		Eliminations			Total
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	8,093	$	-	$	10,629	$	(144	)	$	18,578
Accounts receivable, net		27,542		489		38,361		-			66,392
Intercompany receivable		46,856		23		7,610		(54,489	)		-
Inventories		21,697		1,438		10,235		-			33,370
Deferred income tax assets, current portion		4,168		531		790		-			5,489
Prepaid expenses and other current assets		6,336		31,227		4,784		(30,609	)		11,738
Total current assets		114,692		33,708		72,409		(85,242	)		135,567
PROPERTY AND EQUIPMENT, Net		44,103		1,407		19,152		-			64,662
INVESTMENT IN SUBSIDIARIES		162,895		-		4		(162,899	)		-
GOODWILL		903,512		6,659		56,167		-			966,338
INTANGIBLE ASSETS, Net		682,187		10,438		42,897		-			735,522
DEFERRED FINANCING COSTS		38,769		-		-		-			38,769
OTHER ASSETS		7,817		5,558		370		(5,450	)		8,295
Total assets	$	1,953,975	$	57,770	$	190,999	$	(253,591	)	$	1,949,153
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	9,816	$	1,145	$	1,773	$	-		$	12,734
Intercompany payable		190		39,177		15,122		(54,489	)		-
Accrued expenses and other current liabilities		31,250		1,421		8,829		(144	)		41,356
Income taxes payable		30,719		-		3,544		(30,609	)		3,654
Deferred revenue, current portion		1,270		20		1,316		-			2,606
Current portion of long term debt, net of debt discounts		3,922		-		-		-			3,922
Total current liabilities		77,167		41,763		30,584		(85,242	)		64,272
LONG TERM DEBT, NET OF DEBT DISCOUNTS		986,361		-		-		-			986,361
DEFERRED REVENUE		391		-		40		-			431
DEFERRED INCOME TAX LIABILITIES		238,582		-		12,364		(5,450	)		245,496
OTHER LONG-TERM LIABILITIES		14,096		-		1,119		-			15,215
Total liabilities		1,316,597		41,763		44,107		(90,692	)		1,311,775
SHAREHOLDERS' EQUITY:
Total shareholders' equity		637,378		16,007		146,892		(162,899	)		637,378
Total liabilities and shareholders' equity	$	1,953,975	$	57,770	$	190,999	$	(253,591	)	$	1,949,153

Condensed Consolidating Statements of Operations [Table Text Block]

	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
NET SALES	$	64,505		$	1,441		$	29,605		$	(10,397	)	$	85,154
COST OF SALES (exclusive of amortization shown separately below)		20,027			917			16,554			(10,397	)		27,101
GROSS MARGIN		44,478			524			13,051			-			58,053
OPERATING EXPENSES:
Research and development		3,208			1,643			34			-			4,885
Selling and marketing		6,958			460			4,803			-			12,221
Distribution		2,875			43			1,590			-			4,508
General and administrative		7,550			474			2,092			-			10,116
Amortization of intangibles		11,771			54			556			-			12,381
Total operating expenses		32,362			2,674			9,075			-			44,111
INCOME (LOSS) FROM OPERATIONS		12,116			(2,150	)		3,976			-			13,942
NON-OPERATING INCOME (EXPENSE):
Interest income		-			-			11			(8	)		3
Interest expense		(24,488	)		-			(8	)		8			(24,488	)
Loss on extinguishment of debt		(6,686	)		-			-			-			(6,686	)
Other, net		(23	)		-			143			-			120
Total non-operating income (expense)		(31,197	)		-			146			-			(31,051	)
(LOSS) INCOME BEFORE INCOME TAXES		(19,081	)		(2,150	)		4,122			-			(17,109	)
(BENEFIT) PROVISION FOR INCOME TAXES		(7,085	)		(712	)		1,323			-			(6,474	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(11,996	)		(1,438	)		2,799			-			(10,635	)
Net Income  (Loss) of consolidated subsidiaries		1,361			-			-			(1,361	)		-
NET (LOSS) INCOME	$	(10,635	)	$	(1,438	)	$	2,799		$	(1,361	)	$	(10,635	)

	Successor
	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
NET SALES	$	7,720		$	185		$	4,370		$	(885	)	$	11,390
COST OF SALES (exclusive of amortization shown separately below)		4,835			226			2,980			(885	)		7,156
GROSS MARGIN		2,885			(41	)		1,390			-			4,234
OPERATING EXPENSES:
Research and development		287			331			5			-			623
Selling and marketing		577			67			468			-			1,112
Distribution		399			3			247			-			649
General and administrative		455			57			242			-			754
Amortization of intangibles		1,480			6			162			-			1,648
Total operating expenses		3,198			464			1,124			-			4,786
INCOME (LOSS) FROM OPERATIONS		(313	)		(505	)		266			-			(552	)
NON-OPERATING INCOME (EXPENSE):
Interest income		-			-			11			(11	)		-
Interest expense		(3,401	)		-			(3	)		11			(3,393	)
Other, net		-			-			(11	)		-			(11	)
Total non-operating income (expense)		(3,401	)		-			(3	)		-			(3,404	)
INCOME (LOSS) BEFORE INCOME TAXES		(3,714	)		(505	)		263			-			(3,956	)
PROVISION (BENEFIT) FOR INCOME TAXES		(1,313	)		(177	)		(24	)		-			(1,514	)
NET INCOME (LOSS) BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(2,401	)		(328	)		287			-			(2,442	)
Net Income (Loss) of consolidated subsidiaries		(41	)		-			-			41			-
NET (LOSS) INCOME	$	(2,442	)	$	(328	)	$	287		$	41		$	(2,442	)

	Predecessor
	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
NET SALES	$	55,063		$	980		$	26,648		$	(7,781	)	$	74,910
COST OF SALES (exclusive of amortization shown separately below)		17,070			722			12,944			(7,781	)		22,955
GROSS MARGIN		37,993			258			13,704			-			51,955
OPERATING EXPENSES:
Research and development		2,390			2,471			34			-			4,895
Selling and marketing		5,321			568			4,621			-			10,510
Distribution		2,331			34			1,587			-			3,952
General and administrative		33,903			657			3,615			-			38,175
Amortization of intangibles		117			757			57			-			931
Total operating expenses		44,062			4,487			9,914			-			58,463
(LOSS) INCOME FROM OPERATIONS		(6,069	)		(4,229	)		3,790			-			(6,508	)
NON-OPERATING INCOME (EXPENSE):
Interest income		46			-			117			(21	)		142
Interest expense		-			-			(21	)		21			-
Other, net		(246	)		14			2,905			-			2,673
Total non-operating income (expense)		(200	)		14			3,001			-			2,815
(LOSS) INCOME BEFORE INCOME TAXES		(6,269	)		(4,215	)		6,791			-			(3,693	)
(BENEFIT) PROVISION FOR INCOME TAXES		1,497			(1,598	)		2,782			-			2,681
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(7,766	)		(2,617	)		4,009			-			(6,374	)
Net (Loss) Income of consolidated subsidiaries		1,392			-			-			(1,392	)		-
NET (LOSS) INCOME	$	(6,374	)	$	(2,617	)	$	4,009		$	(1,392	)	$	(6,374	)

Condensed Consolidating Cash Flow Information [Table Text Block]

	Immucor, Inc.			Guarantor			Non-Guarantors		Eliminations			Total
Net cash provided by (used in) operating activities	$	(16,702	)	$	880		$	5,501	$	77		$	(10,244	)
Net cash provided by (used in) investing activities		(1,454	)		(736	)		23	$	-			(2,167	)
Net cash provided by financing activities		11,934			-			-	$	-			11,934
Effect of exchange rate changes on cash and cash equivalents		-			-			226	$	(184	)		42
Increase (decrease) in cash and cash equivalents		(6,222	)		144			5,750		(107	)		(435	)
Cash and cash equivalents at beginning of period		8,093			(144	)		10,629		-			18,578
Cash and cash equivalents at end of period	$	1,871		$	-		$	16,379		(107	)	$	18,143

	Successor
	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations		Total
Net cash provided by (used in) operating activities	$	(11,908	)	$	(7	)	$	(1,198	)	$	-	$	(13,113	)
Net cash used in investing activities		(1,940,133	)		(15	)		(146	)		-		(1,940,294	)
Net cash provided by financing activities		1,655,564			-			-			-		1,655,564
Effect of exchange rate changes on cash and cash equivalents		-			-			14		$	-		14
Increase (decrease) in cash and cash equivalents		(296,477	)		(22	)		(1,330	)		-		(297,829	)
Cash and cash equivalents at beginning of period		314,304			(89	)		8,748			-		322,963
Cash and cash equivalents at end of period	$	17,827		$	(111	)	$	7,418		$	-	$	25,134

	Predecessor
	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
Net cash provided by (used in) operating activities	$	64,243		$	144		$	(13,821	)	$	(24,978	)	$	25,588
Net cash used in investing activities		(393	)		(153	)		(1,719	)		-			(2,265	)
Net cash provided by (used in) financing activities		68			-			(25,085	)		25,083			66
Effect of exchange rate changes on cash and cash equivalents		-			-			(2,924	)		(105	)		(3,029	)
Increase (decrease) in cash and cash equivalents		63,918			(9	)		(43,549	)		-			20,360
Cash and cash equivalents at beginning of period		250,386			(80	)		52,297			-			302,603
Cash and cash equivalents at end of period	$	314,304		$	(89	)	$	8,748		$	-		$	322,963