COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS |
COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS | | | | | | | | | (In thousands) | March 31, 2016 | | December 31, 2015 | Accounts receivable, net | | | | Accounts receivable | $ | 248,120 |
| | $ | 219,043 |
| Less: allowance for doubtful accounts | (43,641 | ) | | (25,168 | ) | | $ | 204,479 |
| | $ | 193,875 |
| Inventories, net | | | | Consumable supplies | $ | 20,759 |
| | $ | 22,265 |
| Finished products | 14,790 |
| | 13,404 |
| Work in-process | 1,205 |
| | 1,215 |
| Raw materials | 5,051 |
| | 3,848 |
| Less: inventory reserve | (1,230 | ) | | (1,051 | ) | | $ | 40,575 |
| | $ | 39,681 |
| Prepaid expenses and other current assets | | | | Other receivables | 15,122 |
| | 11,946 |
| Taxes recoverable | 6,076 |
| | 3,076 |
| Prepaid supplies | 10,265 |
| | 8,773 |
| Prepaid insurance | 1,736 |
| | 2,206 |
| Other | 306 |
| | 903 |
| | $ | 33,505 |
| | $ | 26,904 |
| Intangible assets, net: | | | | Customer relationships | $ | 451,489 |
| | $ | 449,972 |
| Technologies | 151,818 |
| | 151,709 |
| Trade names | 50,461 |
| | 50,416 |
| Licenses | 23,467 |
| | 23,432 |
| Covenants not to compete | 8,619 |
| | 8,612 |
| Product registrations | 7,797 |
| | 7,512 |
| Other | 4,481 |
| | 5,600 |
| Less: accumulated amortization | (72,727 | ) | | (59,101 | ) | | $ | 625,405 |
| | $ | 638,152 |
| Accrued expenses: | | | | Deferred revenue | $ | 74,375 |
| | $ | 70,246 |
| Employee benefits | 40,791 |
| | 29,751 |
| Contingent consideration | 21,208 |
| | 22,164 |
| Taxes payable | 5,986 |
| | 7,605 |
| Capital leases short-term | 5,287 |
| | 5,373 |
| Clinical trials | 5,850 |
| | 2,505 |
| Milestone payment | 4,914 |
| | 5,000 |
| Professional fees | 707 |
| | 1,506 |
| Other | 23,224 |
| | 23,749 |
| | $ | 182,342 |
| | $ | 167,899 |
| | | | |
| | | | | | | | | (In thousands) | March 31, 2016 | | December 31, 2015 | Other long-term liabilities: | | | | Deferred revenue | $ | 143,520 |
| | $ | 162,634 |
| Line of credit | 72,343 |
| | 72,107 |
| Contingent consideration | 34,674 |
| | 32,258 |
| Mortgages and other debts payable | 2,366 |
| | 2,523 |
| Capital leases long-term | 8,861 |
| | 9,285 |
| Other | 14,048 |
| | 13,663 |
| | $ | 275,812 |
| | $ | 292,470 |
|
All of the intangible assets and goodwill acquired relate to our acquisitions of principally OPKO Renal, OPKO Biologics, EirGen and Bio-Reference. We do not anticipate capitalizing the cost of product registration renewals, rather we expect to expense these costs, as incurred. Our goodwill is not tax deductible for income tax purposes in any jurisdiction we operate in. At March 31, 2016, the changes in value of the intangible assets and goodwill are primarily due to foreign currency fluctuations between the Chilean and Mexican pesos, the Euro and the Shekel against the U.S. dollar. The following table reflects the changes in Goodwill during the three months ended March 31, 2016. | | | | | | | | | | | | | | | | | | 2016 | (In thousands) | Balance at January 1st | | Purchase accounting adjustments | | Foreign exchange | | Balance at March 31st | Pharmaceuticals | | | | | | | | CURNA | $ | 4,827 |
| | $ | — |
| | $ | — |
| | $ | 4,827 |
| EirGen | 81,139 |
| | — |
| | 3,443 |
| | 84,582 |
| FineTech | 11,698 |
| | — |
| | — |
| | 11,698 |
| OPKO Chile | 4,517 |
| | — |
| | 195 |
| | 4,712 |
| OPKO Biologics | 139,784 |
| | — |
| | — |
| | 139,784 |
| OPKO Health Europe | 7,191 |
| | — |
| | 296 |
| | 7,487 |
| OPKO Renal | 2,069 |
| | — |
| | — |
| | 2,069 |
| | | | | | | | | Diagnostics | | | | | | | | Bio Reference | 441,158 |
| | (321 | ) | |
| | 440,837 |
| OPKO Diagnostics | 17,977 |
| | — |
| | — |
| | 17,977 |
| OPKO Lab | 32,988 |
| | — |
| | — |
| | 32,988 |
| | $ | 743,348 |
| | $ | (321 | ) | | $ | 3,934 |
| | $ | 746,961 |
|
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