Note 17 - Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

9 Months Ended

Feb. 28, 2015

Disclosure Text Block Supplement [Abstract]

Condensed Balance Sheet [Table Text Block]

	Immucor, Inc.		Guarantors			Non-Guarantors		Eliminations			Total
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	1,666		(523	)		10,348		-			11,491
Accounts receivable, net		33,375		5,853			33,248		-			72,476
Intercompany receivable		68,639		20,899			8,215		(97,753	)		-
Inventories		21,644		15,518			12,018		(2,120	)		47,060
Deferred income tax assets, current portion		4,160		2,807			356		818			8,141
Prepaid expenses and other current assets		4,475		797			5,340		-			10,612
Total current assets		133,959		45,351			69,525		(99,055	)		149,780
PROPERTY AND EQUIPMENT, net		38,250		14,606			20,387		-			73,243
INVESTMENT IN SUBSIDIARIES		225,597		5,020			3,019		(233,636	)		-
GOODWILL		744,149		47,640			51,060		-			842,849
OTHER INTANGIBLE ASSETS, net		569,118		60,242			35,038		-			664,398
DEFERRED FINANCING COSTS, net		28,118		-			-		-			28,118
OTHER ASSETS		11,240		257			356		-			11,853
Total assets	$	1,750,431		173,116			179,385		(332,691	)		1,770,241
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	5,814		2,630			3,492		-			11,936
Intercompany payable		2,059		86,991			8,703		(97,753	)		-
Accrued interest and interest rate swap liability		8,106		-			-		-			8,106
Accrued expenses and other current liabilities		10,836		5,166			7,249		-			23,251
Income taxes payable		30,894		(29,967	)		3,853		-			4,780
Deferred revenue, current portion		1,278		11			1,497		-			2,786
Current portion of long term debt, net of debt discounts		17,493		7			-		-			17,500
Total current liabilities		76,480		64,838			24,794		(97,753	)		68,359
LONG TERM DEBT, NET OF DEBT DISCOUNTS		1,034,231		2			-		-			1,034,233
DEFERRED REVENUE		-		-			65		-			65
DEFERRED INCOME TAX LIABILITIES		234,581		4,875			9,942		-			249,398
OTHER LONG-TERM LIABILITIES		16,085		11,787			1,260		-			29,132
Total liabilities		1,361,377		81,502			36,061		(97,753	)		1,381,187
SHAREHOLDERS' EQUITY:
Total shareholders' equity		389,054		91,614			143,324		(234,938	)		389,054
Total liabilities and shareholders' equity	$	1,750,431		173,116			179,385		(332,691	)		1,770,241

	Immucor, Inc.		Guarantors			Non-Guarantors		Eliminations			Total
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	4,863		(409	)		19,167		-			23,621
Accounts receivable, net		29,558		5,137			34,934		-			69,629
Intercompany receivable		57,167		15,058			6,548		(78,773	)		-
Inventories		20,733		17,358			13,184		(2,124	)		49,151
Deferred income tax assets, current portion		4,160		2,807			464		820			8,251
Prepaid expenses and other current assets		6,228		470			5,884		-			12,582
Total current assets		122,709		40,421			80,181		(80,077	)		163,234
PROPERTY AND EQUIPMENT, net		37,963		16,103			22,245		-			76,311
INVESTMENT IN SUBSIDIARIES		259,567		5,021			3,114		(267,702	)		-
GOODWILL		743,512		47,877			60,174		-			851,563
OTHER INTANGIBLE ASSETS, net		586,243		63,474			43,153		-			692,870
DEFERRED FINANCING COSTS, net		33,116		-			-		-			33,116
OTHER ASSETS		6,721		260			339		-			7,320
Total assets	$	1,789,831		173,156			209,206		(347,779	)		1,824,414
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	6,805		5,945			2,915		-			15,665
Intercompany payable		99		69,999			8,675		(78,773	)		-
Accrued interest and interest swap liability		19,605		-			-		-			19,605
Accrued expenses and other current liabilities		8,681		4,950			10,085		-			23,716
Income taxes payable		30,785		(29,698	)		3,840		-			4,927
Deferred revenue, current portion		1,269		12			1,532		-			2,813
Current portion of long-term debt, net of debt discounts		4,580		11			-		-			4,591
Total current liabilities		71,824		51,219			27,047		(78,773	)		71,317
LONG-TERM DEBT, net of debt discounts		1,037,168		15			-		-			1,037,183
DEFERRED REVENUE		14		-			72		-			86
DEFERRED INCOME TAX LIABILITIES		201,184		10,157			12,038		-			223,379
OTHER LONG-TERM LIABILITIES		11,025		11,425			1,383		-			23,833
Total liabilities		1,321,215		72,816			40,540		(78,773	)		1,355,798
SHAREHOLDERS' EQUITY:
Total shareholders' equity		468,616		100,340			168,666		(269,006	)		468,616
Total liabilities and shareholders' equity	$	1,789,831		173,156			209,206		(347,779	)		1,824,414

Condensed Income Statement [Table Text Block]

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
NET SALES	$	63,013			14,119			37,015			(18,542	)		95,605
COST OF SALES (exclusive of amortization shown separately below)		18,743			9,410			24,360			(18,542	)		33,971
GROSS MARGIN		44,270			4,709			12,655			-			61,634
OPERATING EXPENSES:
Research and development		3,087			4,019			174			-			7,280
Selling and marketing		5,973			2,431			5,109			-			13,513
Distribution		2,772			450			1,764			-			4,986
General and administrative		6,056			963			2,343			-			9,362
Amortization expense		11,973			1,079			563			-			13,615
Total operating expenses		29,861			8,942			9,953			-			48,756
INCOME (LOSS) FROM OPERATIONS		14,409			(4,233	)		2,702			-			12,878
NON-OPERATING (EXPENSE) INCOME:
Interest income		23			-			44			(25	)		42
Interest expense		(21,664	)		(136	)		(18	)		25			(21,793	)
Other, net		173			(349	)		353			-			177
Total non-operating (expense) income		(21,468	)		(485	)		379			-			(21,574	)
(LOSS) INCOME BEFORE INCOME TAXES		(7,059	)		(4,718	)		3,081			-			(8,696	)
PROVISION (BENEFIT) FOR INCOME TAXES		31,448			(1,560	)		856			-			30,744
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(38,507	)		(3,158	)		2,225			-			(39,440	)
Net (loss) income of consolidated subsidiaries		(933	)		-			-			933			-
NET (LOSS) INCOME	$	(39,440	)		(3,158	)		2,225			933			(39,440	)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
NET SALES	$	57,604			12,252			35,988			(14,865	)		90,979
COST OF SALES (exclusive of amortization shown separately below)		19,737			6,402			21,085			(14,865	)		32,359
GROSS MARGIN		37,867			5,850			14,903			-			58,620
OPERATING EXPENSES:
Research and development		3,212			3,397			129			-			6,738
Selling and marketing		5,673			2,311			6,311			-			14,295
Distribution		2,921			345			1,802			-			5,068
General and administrative		6,943			1,647			1,720			-			10,310
Amortization expense		11,971			658			596			-			13,225
Impairment loss		-			150			-			-			150
Total operating expenses		30,720			8,508			10,558			-			49,786
INCOME (LOSS) FROM OPERATIONS		7,147			(2,658	)		4,345			-			8,834
NON-OPERATING (EXPENSE) INCOME:
Interest income		-			6			21			(11	)		16
Interest expense		(21,900	)		-			(11	)		11			(21,900	)
Other, net		(186	)		24			54			-			(108	)
Total non-operating (expense) income		(22,086	)		30			64			-			(21,992	)
(LOSS) INCOME BEFORE INCOME TAXES		(14,939	)		(2,628	)		4,409			-			(13,158	)
(BENEFIT) PROVISION FOR INCOME TAXES		(6,255	)		(952	)		1,404			-			(5,803	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(8,684	)		(1,676	)		3,005			-			(7,355	)
Net income (loss) of consolidated subsidiaries		1,329			-			-			(1,329	)		-
NET (LOSS) INCOME	$	(7,355	)		(1,676	)		3,005			(1,329	)		(7,355	)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
NET SALES	$	190,662			42,175			116,637			(55,151	)		294,323
COST OF SALES (exclusive of amortization shown separately below)		59,702			27,403			74,617			(55,151	)		106,571
GROSS MARGIN		130,960			14,772			42,020			-			187,752
OPERATING EXPENSES:
Research and development		8,484			12,385			605			-			21,474
Selling and marketing		18,807			7,624			17,511			-			43,942
Distribution		8,167			1,239			5,936			-			15,342
General and administrative		20,345			3,231			7,367			-			30,943
Amortization expense		35,915			3,232			1,801			-			40,948
Total operating expenses		91,718			27,711			33,220			-			152,649
INCOME (LOSS) FROM OPERATIONS		39,242			(12,939	)		8,800			-			35,103
NON-OPERATING (EXPENSE) INCOME:
Interest income		41			-			167			(77	)		131
Interest expense		(66,553	)		(383	)		(54	)		77			(66,913	)
Other, net		587			(436	)		314			-			465
Total non-operating (expense) income		(65,925	)		(819	)		427			-			(66,317	)
(LOSS) INCOME BEFORE INCOME TAXES		(26,683	)		(13,758	)		9,227			-			(31,214	)
PROVISION (BENEFIT) FOR INCOME TAXES		25,044			(5,035	)		2,774			-			22,783
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(51,727	)		(8,723	)		6,453			-			(53,997	)
Net (loss) income of consolidated subsidiaries		(2,270	)		-			-			2,270			-
NET (LOSS) INCOME	$	(53,997	)		(8,723	)		6,453			2,270			(53,997	)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
NET SALES	$	186,977			40,006			108,941			(48,698	)		287,226
COST OF SALES (exclusive of amortization shown separately below)		62,061			22,696			67,033			(48,698	)		103,092
GROSS MARGIN		124,916			17,310			41,908			-			184,134
OPERATING EXPENSES:
Research and development		10,314			11,654			210			-			22,178
Selling and marketing		18,387			6,847			18,523			-			43,757
Distribution		8,323			1,099			5,202			-			14,624
General and administrative		17,767			5,547			6,220			-			29,534
Amortization expense		35,912			1,992			1,743			-			39,647
Acquisition-related items		(4,638	)		-			-			-			(4,638	)
Impairment loss		30			150			-			-			180
Total operating expenses		86,095			27,289			31,898			-			145,282
INCOME (LOSS) FROM OPERATIONS		38,821			(9,979	)		10,010			-			38,852
NON-OPERATING (EXPENSE) INCOME:
Interest income		1			8			55			(36	)		28
Interest expense		(66,182	)		-			(26	)		36			(66,172	)
Other, net		(621	)		97			223			-			(301	)
Total non-operating (expense) income		(66,802	)		105			252			-			(66,445	)
(LOSS) INCOME BEFORE INCOME TAXES		(27,981	)		(9,874	)		10,262			-			(27,593	)
(BENEFIT) PROVISION FOR INCOME TAXES		(11,523	)		(3,406	)		3,238			-			(11,691	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(16,458	)		(6,468	)		7,024			-			(15,902	)
Net income (loss) of consolidated subsidiaries		556			-			-			(556	)		-
NET (LOSS) INCOME	$	(15,902	)		(6,468	)		7,024			(556	)		(15,902	)

Condensed Cash Flow Statement [Table Text Block]

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
Net cash provided by (used in) operating activities	$	304			1,486			1,447			(445	)		2,792
Net cash used in investing activities		(10,188	)		(1,582	)		(7,445	)		-			(19,215	)
Net cash provided by (used in) financing activities		8,025			(18	)		(324	)		324			8,007
Effect of exchange rate changes on cash and cash equivalents		(1,338	)		-			(2,497	)		121			(3,714	)
Decrease in cash and cash equivalents		(3,197	)		(114	)		(8,819	)		-			(12,130	)
Cash and cash equivalents at beginning of period		4,863			(409	)		19,167			-			23,621
Cash and cash equivalents at end of period	$	1,666			(523	)		10,348			-			11,491

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total
Net cash provided by (used in) operating activities	$	63			(2,351	)		13,732			(903	)		10,541
Net cash provided by (used in) investing activities		3,096			(1,954	)		(10,545	)		29			(9,374	)
Net cash ( used in) provided by financing activities		(4,975	)		(34	)		(784	)		785			(5,008	)
Effect of exchange rate changes on cash and cash equivalents		(501	)		-			893			89			481
Change in cash and cash equivalents		(2,317	)		(4,339	)		3,296			-			(3,360	)
Cash and cash equivalents at beginning of period		6,971			4,107			18,310			-			29,388
Cash and cash equivalents at end of period	$	4,654			(232	)		21,606			-			26,028