Note 16 - Condensed Consolidating Financial Information Of Guarantor Subsidiary (Tables)

6 Months Ended

Nov. 30, 2012

Condensed Consolidating Balance Sheets [Table Text Block]

	Immucor, Inc.		Guarantor		Non-Guarantors		Eliminations			Total
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	1,146	$	-	$	17,960	$	(93	)	$	19,013
Accounts receivable, net		26,836		605		33,290		-			60,731
Intercompany receivable		49,042		78		3,748		(52,868	)		-
Inventories		23,828		2,174		10,759		-			36,761
Deferred income tax assets, current portion		4,168		531		935		-			5,634
Prepaid expenses and other current assets		5,302		31,353		5,041		(30,609	)		11,087
Total current assets		110,322		34,741		71,733		(83,570	)		133,226
PROPERTY AND EQUIPMENT, Net		42,220		2,841		19,427		-			64,488
INVESTMENT IN SUBSIDIARIES		171,300		-		4		(171,304	)		-
GOODWILL		903,512		6,659		58,350		-			968,521
INTANGIBLE ASSETS, Net		658,559		10,330		43,365		-			712,254
DEFERRED FINANCING COSTS, Net		34,955		-		-		-			34,955
OTHER ASSETS		7,816		7,125		415		(7,016	)		8,340
Total assets	$	1,928,684	$	61,696	$	193,294	$	(261,890	)	$	1,921,784
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	10,295	$	1,271	$	2,762	$	-		$	14,328
Intercompany payable		918		45,798		6,152		(52,868	)		-
Accrued expenses and other current liabilities		27,963		1,198		8,048		(93	)		37,116
Income taxes payable		30,724		-		3,647		(30,609	)		3,762
Deferred revenue, current portion		1,338		17		1,121		-			2,476
Current portion of long-term debt, net of debt discounts		5,108		-		-		-			5,108
Total current liabilities		76,346		48,284		21,730		(83,570	)		62,790
LONG-TERM DEBT, NET OF DEBT DISCOUNTS		987,070		-		-		-			987,070
DEFERRED REVENUE		312		-		23		-			335
DEFERRED INCOME TAX LIABILITIES		227,324		-		12,470		(7,016	)		232,778
OTHER LONG-TERM LIABILITIES		14,744		-		1,179		-			15,923
Total liabilities		1,305,796		48,284		35,402		(90,586	)		1,298,896
SHAREHOLDERS' EQUITY:
Total shareholders' equity		622,888		13,412		157,892		(171,304	)		622,888
Total liabilities and shareholders' equity	$	1,928,684	$	61,696	$	193,294	$	(261,890	)	$	1,921,784

	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	$	61,454		$	1,462		$	30,383		$	(11,243	)	$	82,056
COST OF SALES (exclusive of amortization shown separately below)		20,036			1,034			17,339			(11,243	)		27,166
GROSS MARGIN		41,418			428			13,044			-			54,890
OPERATING EXPENSES:
Research and development		3,075			1,462			-			-			4,537
Selling and marketing		6,744			477			5,720			-			12,941
Distribution		2,935			44			1,742			-			4,721
General and administrative		8,080			400			2,333			-			10,813
Amortization of intangibles		11,771			54			579			-			12,404
Loss on disposition of fixed assets		1,175			-			-			-			1,175
Total operating expenses		33,780			2,437			10,374			-			46,591
INCOME (LOSS) FROM OPERATIONS		7,638			(2,009	)		2,670			-			8,299
NON-OPERATING INCOME (EXPENSE):
Interest income		-			-			28			(21	)		7
Interest expense		(22,267	)		-			(5	)		21			(22,251	)
Other, net		(157	)		-			(85	)		-			(242	)
Total non-operating income (expense)		(22,424	)		-			(62	)		-			(22,486	)
(LOSS) INCOME BEFORE INCOME TAXES		(14,786	)		(2,009	)		2,608			-			(14,187	)
(BENEFIT) PROVISION FOR INCOME TAXES		(3,894	)		(853	)		959			-			(3,788	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(10,892	)		(1,156	)		1,649			-			(10,399	)
Net Income (Loss) of consolidated subsidiaries		493			-			-			(493	)		-
NET (LOSS) INCOME	$	(10,399	)	$	(1,156	)	$	1,649		$	(493	)	$	(10,399	)

	Successor
	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
NET SALES	$	59,202		$	1,315		$	30,484		$	(7,966	)	$	83,035
COST OF SALES (exclusive of amortization shown separately below)		27,826			1,370			21,196			(7,966	)		42,426
GROSS MARGIN		31,376			(55	)		9,288			-			40,609
OPERATING EXPENSES:
Research and development		2,099			3,012			35			-			5,146
Selling and marketing		4,979			543			4,411			-			9,933
Distribution		2,756			37			1,783			-			4,575
General and administrative		7,847			596			2,762			-			11,205
Amortization of intangibles		11,251			50			1,161			-			12,463
Certain litigation expenses		22,000			-			-			-			22,000
Total operating expenses		50,932			4,238			10,152			-			65,322
LOSS FROM OPERATIONS		(19,556	)		(4,293	)		(864	)		-			(24,713	)
NON-OPERATING INCOME (EXPENSE):
Interest income		-			-			43			(37	)		6
Interest expense		(24,863	)		-			(24	)		37			(24,850	)
Other, net		605			-			66			-			671
Total non-operating income (expense)		(24,258	)		-			85			-			(24,173	)
LOSS BEFORE INCOME TAXES		(43,814	)		(4,293	)		(779	)		-			(48,886	)
BENEFIT FOR INCOME TAXES		(16,850	)		(1,555	)		(302	)		-			(18,707	)
LOSS BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(26,964	)		(2,738	)		(477	)		-			(30,179	)
Net (loss) income of consolidated subsidiaries		(3,215	)		-			-			3,215			-
NET (LOSS) INCOME	$	(30,179	)	$	(2,738	)	$	(477	)	$	3,215		$	(30,179	)

	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
NET SALES	$	125,958		$	2,903		$	59,989		$	(21,640	)	$	167,210
COST OF SALES (exclusive of amortization shown separately below)		40,063			1,951			33,893			(21,640	)		54,267
GROSS MARGIN		85,895			952			26,096			-			112,943
OPERATING EXPENSES:
Research and development		6,283			3,105			34			-			9,422
Selling and marketing		13,702			938			10,522			-			25,162
Distribution		5,810			87			3,332			-			9,229
General and administrative		15,629			874			4,426			-			20,929
Amortization of intangibles		23,542			108			1,135			-			24,785
Loss on disposition of fixed assets		1,175			-			-			-			1,175
Certain litigation expenses		-			-			-			-			-
Total operating expenses		66,141			5,112			19,449			-			90,702
INCOME (LOSS) FROM OPERATIONS		19,754			(4,160	)		6,647			-			22,241
NON-OPERATING INCOME (EXPENSE):
Interest income		-			-			39			(29	)		10
Interest expense		(46,755	)		-			(13	)		29			(46,739	)
Loss on extinguishment of debt		(6,686	)		-			-			-			(6,686	)
Other, net		(180	)		-			58			-			(122	)
Total non-operating income (expense)		(53,621	)		-			84			-			(53,537	)
(LOSS) INCOME BEFORE INCOME TAXES		(33,867	)		(4,160	)		6,731			-			(31,296	)
(BENEFIT) PROVISION FOR INCOME TAXES		(10,979	)		(1,565	)		2,282			-			(10,262	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(22,888	)		(2,595	)		4,449			-			(21,034	)
Net Income (Loss) of consolidated subsidiaries		1,854			-			-			(1,854	)		-
NET (LOSS) INCOME	$	(21,034	)	$	(2,595	)	$	4,449		$	(1,854	)	$	(21,034	)

	Successor
	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
NET SALES	$	66,921		$	1,500		$	34,854		$	(8,850	)	$	94,425
COST OF SALES (exclusive of amortization shown separately below)		32,659			1,596			24,177			(8,850	)		49,582
GROSS MARGIN		34,262			(96	)		10,677			-			44,843
OPERATING EXPENSES:
Research and development		2,387			3,343			39			-			5,769
Selling and marketing		5,556			609			4,880			-			11,045
Distribution		3,156			41			2,028			-			5,225
General and administrative		8,302			653			3,004			-			11,959
Amortization of intangibles		12,731			56			1,323			-			14,110
Certain litigation expenses		22,000			-			-			-			22,000
Total operating expenses		54,132			4,702			11,274			-			70,108
INCOME (LOSS) FROM OPERATIONS		(19,870	)		(4,798	)		(597	)		-			(25,265	)
NON-OPERATING INCOME (EXPENSE):
Interest income		-			-			54			(48	)		6
Interest expense		(28,263	)		-			(28	)		48			(28,243	)
Other, net		606			-			54						660
Total non-operating income (expense)		(27,657	)		-			80			-			(27,577	)
INCOME (LOSS) BEFORE INCOME TAXES		(47,527	)		(4,798	)		(517	)		-			(52,842	)
PROVISION (BENEFIT) FOR INCOME TAXES		(18,161	)		(1,732	)		(328	)		-			(20,221	)
NET INCOME (LOSS) BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(29,366	)		(3,066	)		(189	)		-			(32,621	)
Net Income (Loss) of consolidated subsidiaries		(3,255	)		-			-			3,255			-
NET INCOME (LOSS)	$	(32,621	)	$	(3,066	)	$	(189	)	$	3,255		$	(32,621	)

	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	$	(142	)	$	1,748		$	6,852		$	92		$	8,550
Net cash provided by (used in) investing activities		(2,422	)		(1,604	)		(2	)	$	-			(4,028	)
Net cash provided by financing activities		(4,383	)		-			-		$	-			(4,383	)
Effect of exchange rate changes on cash and cash equivalents		-			-			481		$	(185	)		296
Increase (decrease) in cash and cash equivalents		(6,947	)		144			7,331			(93	)		435
Cash and cash equivalents at beginning of period		8,093			(144	)		10,629			-			18,578
Cash and cash equivalents at end of period	$	1,146		$	-		$	17,960			(93	)	$	19,013

	Successor
	Immucor, Inc.			Guarantor			Non-Guarantors			Eliminations			Total
Net cash provided by (used in) operating activities	$	(1,664	)	$	199		$	13,581		$	(10,233	)	$	1,883
Net cash used in investing activities		(1,941,000	)		(199	)		(701	)		-			(1,941,900	)
Net cash provided by ( used in) financing activities		1,655,166			-			(10,753	)		10,752			1,655,165
Effect of exchange rate changes on cash and cash equivalents		-			-			(717	)		(519	)		(1,236	)
Increase (decrease) in cash and cash equivalents		(287,498	)		-			1,410			-			(286,088	)
Cash and cash equivalents at beginning of period		314,304			(89	)		8,748			-			322,963
Cash and cash equivalents at end of period	$	26,806		$	(89	)	$	10,158		$	-		$	36,875

	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