Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 22-May-15 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | ALR | |
Entity Registrant Name | ALERE INC. | |
Entity Central Index Key | 1145460 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 85,130,311 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Income Statement [Abstract] | ||
Net product sales | $479,599 | $491,319 |
Services revenue | 123,856 | 128,708 |
Net product sales and services revenue | 603,455 | 620,027 |
License and royalty revenue | 4,698 | 5,212 |
Net revenue | 608,153 | 625,239 |
Cost of net product sales | 238,637 | 242,981 |
Cost of services revenue | 75,581 | 70,361 |
Cost of net product sales and services revenue | 314,218 | 313,342 |
Cost of license and royalty revenue | 1,950 | 1,539 |
Cost of net revenue | 316,168 | 314,881 |
Gross profit (loss) | 291,985 | 310,358 |
Operating expenses: | ||
Research and development | 28,016 | 38,699 |
Sales and marketing | 109,079 | 133,044 |
General and administrative | 92,691 | 103,619 |
Impairment and (gain) loss on dispositions, net | 34,792 | 0 |
Operating income (loss) | 27,407 | 34,996 |
Interest expense, including amortization of original issue discounts and deferred financing costs | -46,431 | -51,910 |
Other income (expense), net | -1,270 | 7,032 |
Loss from continuing operations before benefit for income taxes | -20,294 | -9,882 |
Benefit for income taxes | -8,786 | -1,680 |
Loss from continuing operations before equity earnings of unconsolidated entities, net of tax | -11,508 | -8,202 |
Equity earnings of unconsolidated entities, net of tax | 3,959 | 5,352 |
Income (loss) from continuing operations | -7,549 | -2,850 |
Income (loss) from discontinued operations, net of tax | 216,777 | -2,596 |
Net income (loss) | 209,228 | -5,446 |
Less: Net income attributable to non-controlling interests | 88 | 108 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | 209,140 | -5,554 |
Preferred stock dividends | -5,250 | -5,250 |
Net income (loss) available to common stockholders | $203,890 | ($10,804) |
Basic and diluted net income (loss) per common share: | ||
Loss from continuing operations | ($0.15) | ($0.10) |
Income (loss) from discontinued operations | $2.57 | ($0.03) |
Net income (loss) per common share | $2.42 | ($0.13) |
Weighted-average shares - basic and diluted | 84,338 | 82,387 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Comprehensive Income [Abstract] | ||
Net income (loss) | $209,228 | ($5,446) |
Other comprehensive loss, before tax: | ||
Changes in cumulative translation adjustment | -80,342 | -11,340 |
Unrealized losses on available for sale securities | 0 | -17 |
Unrealized gains on hedging instruments | 0 | 8 |
Minimum pension liability adjustment | -1,382 | 74 |
Other comprehensive loss, before tax | -81,724 | -11,275 |
Income tax benefit related to items of other comprehensive loss | 0 | 0 |
Other comprehensive loss, net of tax | -81,724 | -11,275 |
Comprehensive income (loss) | 127,504 | -16,721 |
Less: Comprehensive income attributable to non-controlling interests | 88 | 108 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | $127,416 | ($16,829) |
Consolidated_Balance_Sheets_un
Consolidated Balance Sheets (unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $414,495 | $378,461 |
Restricted cash | 37,406 | 37,571 |
Marketable securities | 173 | 259 |
Accounts receivable, net of allowances of $80,667 and $76,163 at March 31, 2015 and December 31, 2014, respectively | 471,663 | 466,106 |
Inventories, net | 374,973 | 365,165 |
Deferred tax assets | 22,614 | 112,573 |
Prepaid expenses and other current assets | 117,924 | 132,413 |
Assets held for sale | 0 | 315,515 |
Total current assets | 1,439,248 | 1,808,063 |
Property, plant and equipment, net | 446,705 | 453,570 |
Goodwill | 2,880,164 | 2,926,666 |
Other intangible assets with indefinite lives | 40,203 | 43,651 |
Finite-lived intangible assets, net | 1,173,866 | 1,276,444 |
Deferred financing costs, net and other non-current assets | 61,477 | 67,832 |
Investments in unconsolidated entities | 95,551 | 91,693 |
Deferred tax assets | 8,612 | 8,569 |
Non-current income tax receivable | 2,545 | 2,468 |
Total assets | 6,148,371 | 6,678,956 |
Current liabilities: | ||
Short-term debt and current portion of long-term debt | 95,299 | 88,875 |
Current portion of capital lease obligations | 5,072 | 4,241 |
Accounts payable | 195,980 | 213,592 |
Accrued expenses and other current liabilities | 364,892 | 375,494 |
Liabilities related to assets held for sale | 0 | 78,843 |
Total current liabilities | 661,243 | 761,045 |
Long-term liabilities: | ||
Long-term debt, net of current portion | 3,023,847 | 3,621,385 |
Capital lease obligations, net of current portion | 7,747 | 10,560 |
Deferred tax liabilities | 245,863 | 214,639 |
Other long-term liabilities | 138,090 | 161,582 |
Total long-term liabilities | 3,415,547 | 4,008,166 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Series B preferred stock, $0.001 par value (liquidation preference: $709,763 at March 31, 2015 and December 31, 2014); Authorized: 2,300 shares; Issued: 2,065 shares at March 31, 2015 and December 31, 2014; Outstanding: 1,774 shares at March 31, 2015 and December 31, 2014 | 606,468 | 606,468 |
Common stock, $0.001 par value; Authorized: 200,000 shares; Issued: 92,561 shares at March 31, 2015 and 91,532 shares at December 31, 2014, respectively; Outstanding: 84,882 shares at March 31, 2015 and 83,853 shares at December 31, 2014, respectively | 93 | 92 |
Additional paid-in capital | 3,390,002 | 3,355,672 |
Accumulated deficit | 1,470,411 | -1,679,552 |
Treasury stock, at cost, 7,679 shares at March 31, 2015 and December 31, 2014 | -184,971 | -184,971 |
Accumulated other comprehensive loss | 273,834 | -192,110 |
Total stockholders' equity | 2,067,347 | 1,905,599 |
Non-controlling interests | 4,234 | 4,146 |
Total equity | 2,071,581 | 1,909,745 |
Total liabilities and equity | $6,148,371 | $6,678,956 |
Consolidated_Balance_Sheets_un1
Consolidated Balance Sheets (unaudited) (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowances | $80,667 | $76,163 |
Series B preferred stock, par value | $0.00 | $0.00 |
Series B preferred stock, liquidation preference | $709,763 | $709,763 |
Series B preferred stock, shares authorized | 2,300,000 | 2,300,000 |
Series B preferred stock, shares issued | 2,065,000 | 2,065,000 |
Series B preferred stock, shares outstanding | 1,774,000 | 1,774,000 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 92,561,000 | 91,532,000 |
Common stock, shares outstanding | 84,882,000 | 83,853,000 |
Treasury stock, shares | 7,679,000 | 7,679,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash Flows from Operating Activities: | ||
Net income (loss) | $209,228 | ($5,446) |
Income (loss) from discontinued operations, net of tax | 216,777 | -2,596 |
Loss from continuing operations | -7,549 | -2,850 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Tax benefit related to discontinued operations | 0 | 1,211 |
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 3,946 | 4,028 |
Depreciation and amortization | 74,368 | 83,820 |
Non-cash stock-based compensation expense | 5,149 | 5,704 |
Impairment of inventory | 78 | 589 |
Impairment of long-lived assets | -69 | 161 |
Loss on disposition of fixed assets | 1,391 | 1,527 |
Equity earnings of unconsolidated entities, net of tax | -3,959 | -5,352 |
Deferred income taxes | -20,349 | -19,099 |
Loss related to impairment and net loss on dispositions | 34,792 | 0 |
Other non-cash items | 5,923 | -2,804 |
Changes in assets and liabilities, net of acquisitions: | ||
Accounts receivable, net | -16,881 | 25,146 |
Inventories, net | -31,168 | -12,705 |
Prepaid expenses and other current assets | 18,980 | 2,678 |
Accounts payable | -18,648 | 3,551 |
Accrued expenses and other current liabilities | 6,827 | 6,826 |
Other non-current liabilities | -21,117 | 10,391 |
Cash paid for contingent consideration | -3,654 | -3,475 |
Net cash provided by continuing operations | 28,060 | 99,347 |
Net cash provided by discontinued operations | 318 | 6,550 |
Net cash provided by operating activities | 28,378 | 105,897 |
Cash Flows from Investing Activities: | ||
Decrease in restricted cash | 71 | 2,151 |
Purchases of property, plant and equipment | -25,647 | -24,831 |
Proceeds from sale of property, plant and equipment | 808 | 128 |
Cash received from disposition, net of cash divested | 581,185 | 4,373 |
Cash received from sales of marketable securities | 86 | 60 |
Cash paid for equity method investments | 0 | -507 |
(Increase) decrease in other assets | 913 | -1,617 |
Net cash provided by (used in) continuing operations | 557,416 | -20,243 |
Net cash used in discontinued operations | -209 | -4,005 |
Net cash provided by (used in) investing activities | 557,207 | -24,248 |
Cash Flows from Financing Activities: | ||
Cash paid for financing costs | -59 | -7 |
Cash paid for contingent purchase price consideration | -4,696 | -4,045 |
Proceeds from issuance of common stock, net of issuance costs | 34,632 | 14,698 |
Proceeds from issuance of long-term debt | 15 | 0 |
Payments on short-term debt | -321 | 0 |
Payments on long-term debt | -463,011 | -15,562 |
Net (payments) proceeds under revolving credit facilities | -127,050 | 233 |
Cash paid for dividends | -5,323 | -5,323 |
Excess tax benefits on exercised stock options | 649 | 292 |
Principal payments on capital lease obligations | -1,484 | -1,620 |
Net cash used in continuing operations | -566,648 | -11,334 |
Net cash provided by (used in) discontinued operations | -76 | 308 |
Net cash used in financing activities | -566,724 | -11,026 |
Foreign exchange effect on cash and cash equivalents | -6,127 | 495 |
Net increase in cash and cash equivalents | 12,734 | 71,118 |
Cash and cash equivalents, beginning of period - continuing operations | 378,461 | 355,431 |
Cash and cash equivalents, beginning of period - discontinued operations | 23,300 | 6,476 |
Cash and cash equivalents, end of period | 414,495 | 433,025 |
Less: Cash and cash equivalents of discontinued operations, end of period | 0 | 7,959 |
Cash and cash equivalents of continuing operations, end of period | $414,495 | $425,066 |
Basis_of_Presentation_of_Finan
Basis of Presentation of Financial Information | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation of Financial Information | (1) Basis of Presentation of Financial Information |
The accompanying consolidated financial statements of Alere Inc. are unaudited. In the opinion of management, the unaudited consolidated financial statements contain all adjustments considered normal and recurring and necessary for their fair statement. Interim results are not necessarily indicative of results to be expected for the year. These interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these consolidated financial statements do not include all of the information and footnotes necessary for a complete presentation of financial position, results of operations, comprehensive income and cash flows. Our audited consolidated financial statements for the year ended December 31, 2014 included information and footnotes necessary for such presentation and were included in our Annual Report onForm 10-K/A filed with the Securities and Exchange Commission, or SEC, on May 28, 2015. These unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended December 31, 2014. | |
Certain reclassifications of prior period amounts have been made in order to apply the presentation requirements to retrospectively present 2015 discontinued operations. These reclassifications of financial information related to discontinued operations have no effect on net income or equity. | |
As a result of the sale of our health management business in January 2015, which was the largest component of our patient self-testing reporting segment, we no longer report our financial information in four operating segments. Our current reportable operating segments are professional diagnostics, consumer diagnostics and corporate and other. Financial information by segment for the three months ended March 31, 2014 has been retroactively adjusted to reflect this change in reporting segments. | |
Certain amounts presented may not recalculate directly, due to rounding. |
Revision_of_Previously_Reporte
Revision of Previously Reported Amounts | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Accounting Changes and Error Corrections [Abstract] | |||||||||||||
Revision of Previously Reported Amounts | (2) Revision of Previously Reported Amounts | ||||||||||||
During the financial closing process for the three months ended March 31, 2015, management determined that we had incorrectly accounted for income taxes related to discontinued operations during 2014, including in connection with the divestiture of our health management business completed in January 2015 and another divestiture completed in October 2014. As a result, we restated our financial statements for the three and nine months ended September 30, 2014 and for the year ended December 31, 2014. In connection with those restatements, we corrected additional errors in 2012, 2013 and 2014 that we concluded were not material individually, or in the aggregate, to our previously issued financial statements. | |||||||||||||
Although management has determined that the errors individually, and in the aggregate, are not material to prior periods, the financial statements for the three and nine months ended March 31, 2014, included herein, have been adjusted to correct for the impact of these items. The adjustments recorded in connection with the revisions primarily relate to a $4.6 million decrease in general and administrative expense related to a change in the fair value of our contingent consideration obligations and a $4.2 million adjustment to revise the benefit from certain foreign tax credits which increased the provision for income taxes. The impacts of these revisions are shown in the tables below: | |||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||
Revised Consolidated Statement of Operations (in thousands) | As Previously Reported, | Adjustment | As Revised | ||||||||||
Giving Effect to the | |||||||||||||
Impact of Discontinued | |||||||||||||
Operations | |||||||||||||
Cost of net product sales | $ | 243,526 | $ | (545 | ) | $ | 242,981 | ||||||
Cost of service revenue | $ | 68,897 | $ | 1,464 | $ | 70,361 | |||||||
Cost of net product sales and services revenue | $ | 312,423 | $ | 919 | $ | 313,342 | |||||||
Cost of net revenue | $ | 313,962 | $ | 919 | $ | 314,881 | |||||||
Gross profit | $ | 311,277 | $ | (919 | ) | $ | 310,358 | ||||||
General and administrative | $ | 109,415 | $ | (5,796 | ) | $ | 103,619 | ||||||
Operating income | $ | 30,119 | $ | 4,877 | $ | 34,996 | |||||||
Other income (expense), net | $ | 5,282 | $ | 1,750 | $ | 7,032 | |||||||
Loss from continuing operations before benefit for income taxes | $ | (16,509 | ) | $ | 6,627 | $ | (9,882 | ) | |||||
Benefit for income taxes | $ | (5,158 | ) | $ | 3,478 | $ | (1,680 | ) | |||||
Loss from continuing operations before equity earnings of unconsolidated entities, net of tax | $ | (11,351 | ) | $ | 3,149 | $ | (8,202 | ) | |||||
Loss from continuing operations | $ | (5,999 | ) | $ | 3,149 | $ | (2,850 | ) | |||||
Net loss | $ | (8,595 | ) | $ | 3,149 | $ | (5,446 | ) | |||||
Net loss attributable to Alere Inc. and Subsidiaries | $ | (8,703 | ) | $ | 3,149 | $ | (5,554 | ) | |||||
Net loss available to common stockholders | $ | (13,953 | ) | $ | 3,149 | $ | (10,804 | ) | |||||
Basic and diluted loss per common share: Loss from continuing operations | $ | (0.14 | ) | $ | 0.04 | $ | (0.10 | ) | |||||
Basic and diluted net loss per common share: Net loss per common share | $ | (0.17 | ) | $ | 0.04 | $ | (0.13 | ) | |||||
Three Months Ended March 31, 2014 | |||||||||||||
Revised Consolidated Statement of Comprehensive Income (Loss) | As Previously Reported, | Adjustment | As Revised | ||||||||||
(in thousands) | Giving Effect to the | ||||||||||||
Impact of Discontinued | |||||||||||||
Operations | |||||||||||||
Net loss | $ | (8,595 | ) | $ | 3,149 | $ | (5,446 | ) | |||||
Comprehensive loss | $ | (19,870 | ) | $ | 3,149 | $ | (16,721 | ) | |||||
Comprehensive loss attributable to Alere Inc. and Subsidiaries | $ | (19,978 | ) | $ | 3,149 | $ | (16,829 | ) | |||||
Three Months Ended March 31, 2014 | |||||||||||||
Revised Consolidated Statement of Cash Flows (in thousands) | As Previously Reported, | Adjustment | As Revised | ||||||||||
Giving Effect to the | |||||||||||||
Impact of Discontinued | |||||||||||||
Operations | |||||||||||||
Net loss | $ | (8,595 | ) | $ | 3,149 | $ | (5,446 | ) | |||||
Loss from continuing operations | $ | (5,999 | ) | $ | 3,149 | $ | (2,850 | ) | |||||
Deferred income taxes | $ | (21,729 | ) | $ | 2,630 | $ | (19,099 | ) | |||||
Prepaid expenses and other current assets | $ | 4,428 | $ | (1,750 | ) | $ | 2,678 | ||||||
Accrued expenses and other current liabilities | $ | 7,035 | $ | (209 | ) | $ | 6,826 | ||||||
Other non-current liabilities | $ | 14,221 | $ | (3,830 | ) | $ | 10,391 | ||||||
Net cash provided by continuing operations | $ | 99,358 | $ | (11 | ) | $ | 99,347 | ||||||
Net cash provided by operating activities | $ | 105,908 | $ | (11 | ) | $ | 105,897 | ||||||
Purchases of property, plant and equipment | $ | (24,842 | ) | $ | 11 | $ | (24,831 | ) | |||||
Net cash used in continuing operations | $ | (20,254 | ) | $ | 11 | $ | (20,243 | ) | |||||
Net cash used in investing activities | $ | (24,259 | ) | $ | 11 | $ | (24,248 | ) | |||||
The Company has reflected these revisions as applicable in its consolidated financial statements and also in the consolidating financial statements presented in Note 21. |
Discontinued_Operations
Discontinued Operations | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Discontinued Operations | (19) Impairment and (Gain) Loss on Dispositions, Net | ||||||||
In March 2015, we sold certain assets of our AdnaGen GmbH business located in Langenhagen, Germany, which was part of our professional diagnostics reporting unit and business segment, for approximately $4.6 million in cash proceeds and, as a result of this transaction, we recorded a gain of $0.3 million during the first quarter of 2015. | |||||||||
In March 2015, we sold our Gesellschaft fur Patientenhilfe DGP GmbH subsidiary located in Munich, Germany, which was part of our professional diagnostics reporting unit and business segment, for €7.6 million (approximately $8.2 million at March 31, 2015) and, as a result of this transaction, we recorded a loss on disposition of $7.6 million during the first quarter of 2015. | |||||||||
In March 2015, our management decided to close our Alere Analytics business located in Lowell, Massachusetts, which is part of our professional diagnostics reporting unit and business segment. In connection with this decision, during the three months ended March 31, 2015, we recorded an impairment charge of $26.7 million, including the write-off of $26.2 million of acquisition-related intangible assets and $0.5 million of fixed assets. | |||||||||
In December 2014, our management decided to close our Alere Connect, LLC subsidiary located in Scottsdale, Arizona, which is part of our professional diagnostics reporting unit and business segment. During the three months ended March 31, 2015, in connection with this decision, we recorded an impairment charge of $0.7 million, consisting primarily of severance costs and other closure-related expenses. | |||||||||
The financial results for the above businesses are immaterial to our consolidated financial results. | |||||||||
Alere Accountable Care Solutions, LLC ("ACS") [Member] | |||||||||
Discontinued Operations | (3) Discontinued Operations | ||||||||
On October 10, 2014, we completed the sale of our ACS subsidiary to ACS Acquisition, LLC (the “Purchaser”), pursuant to the terms of a Membership Interest Purchase Agreement with the Purchaser and Sumit Nagpal. In connection with the sale of ACS, we also agreed to sell our subsidiary Wellogic ME FZ – LLC (“Wellogic,” together with ACS, the “ACS Companies”) to the Purchaser, subject to the satisfaction of routine requirements of Dubai law relating to the transfer of equity. The ACS Companies were included in our patient self-testing segment prior to the sale. The purchase price for the ACS Companies consisted of cash proceeds of $2.00 at closing and contingent consideration of up to an aggregate of $7.0 million, consisting of (i) payments based on the gross revenues of the ACS Companies, (ii) payments to be made in connection with financing transactions by the Purchaser or the ACS Companies and (iii) payments to be made in connection with a sale by the Purchaser of the ACS Companies. In connection with the sale, we agreed to reimburse the Purchaser for up to $750,000 of the Purchaser’s and the ACS Companies’ transitional expenses. We accounted for our divestiture of the ACS Companies in accordance with ASC 205, Presentation of Financial Statements. | |||||||||
On January 9, 2015, we completed the sale of our health management business to OptumHealth Care Solutions for a purchase price of approximately $600.1 million, subject to a customary post-closing working capital adjustment. We used the net cash proceeds of the sale to repay $575.0 million in aggregate principal amount of outstanding indebtedness under our senior secured credit facility. | |||||||||
We accounted for our divestiture of the health management business in accordance with Accounting Standards Update, or ASU, No. 2014-08. The following assets and liabilities associated with the health management business have been segregated and classified as assets held for sale and liabilities related to assets held for sale, as appropriate, in the consolidated balance sheet as of December 31, 2014 (in thousands): | |||||||||
December 31, 2014 | |||||||||
Assets | |||||||||
Cash and cash equivalents | $ | 23,300 | |||||||
Restricted cash | 361 | ||||||||
Accounts receivable, net of allowances of $5,882 at December 31, 2014 | 50,902 | ||||||||
Inventories, net | 1,656 | ||||||||
Deferred tax assets – current | 6,939 | ||||||||
Prepaid expenses and other current assets | 3,857 | ||||||||
Property, plant and equipment, net | 57,595 | ||||||||
Goodwill | 82,665 | ||||||||
Finite-lived intangible assets, net | 82,428 | ||||||||
Deferred tax assets – non-current | 3,347 | ||||||||
Other non-current assets | 2,465 | ||||||||
Total assets held for sale | $ | 315,515 | |||||||
Liabilities | |||||||||
Current portion of capital lease obligations | $ | 799 | |||||||
Accounts payable | 5,654 | ||||||||
Accrued expenses and other current liabilities | 32,822 | ||||||||
Capital lease obligations, net of current portion | 365 | ||||||||
Deferred tax liabilities – non-current | 27,453 | ||||||||
Other long-term liabilities | 11,750 | ||||||||
Total liabilities related to assets held for sale | $ | 78,843 | |||||||
The following summarized financial information related to the businesses of the ACS Companies and the health management business, has been segregated from continuing operations and has been reported as discontinued operations in our consolidated statements of operations. The results of the health management business are included in both periods presented, given our January 9, 2015 divestiture of this business. The results of the ACS Companies are included in the three months ended March 31, 2014, given our October 31, 2014 divestiture of this business. The results are as follows (in thousands): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Net revenue | $ | 7,373 | $ | 91,383 | |||||
Cost of net revenue | (4,413 | ) | (51,420 | ) | |||||
Sales and marketing | (996 | ) | (14,020 | ) | |||||
General and administrative | (5,001 | ) | (30,120 | ) | |||||
Interest expense | (9 | ) | (136 | ) | |||||
Other income (expense), net | 160 | (559 | ) | ||||||
Gain on disposal | 366,191 | — | |||||||
Income (loss) from discontinued operations before provision (benefit) for income taxes | 363,305 | (4,872 | ) | ||||||
Provision (benefit) for income taxes | 146,528 | (2,276 | ) | ||||||
Income (loss) from discontinued operations, net of tax | $ | 216,777 | $ | (2,596 | ) | ||||
Cash_and_Cash_Equivalents
Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents | (4) Cash and Cash Equivalents |
We consider all highly-liquid cash investments with original maturities of three months or less at the date of acquisition to be cash equivalents. At March 31, 2015, our cash equivalents consisted of money market funds. |
Inventories
Inventories | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Inventory Disclosure [Abstract] | |||||||||
Inventories | (5) Inventories | ||||||||
Inventories are stated at the lower of cost (first in, first out) or market and are comprised of the following (in thousands): | |||||||||
March 31, 2015 | December 31, 2014 | ||||||||
Raw materials | $ | 128,731 | $ | 122,886 | |||||
Work-in-process | 73,397 | 82,724 | |||||||
Finished goods | 172,845 | 159,555 | |||||||
$ | 374,973 | $ | 365,165 | ||||||
Stockbased_Compensation
Stock-based Compensation | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
Stock-based Compensation | (6) Stock-based Compensation | ||||||||
We recorded stock-based compensation expense in our consolidated statements of operations for the three months ended March 31, 2015 and 2014, respectively, as follows (in thousands): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Cost of net revenue | $ | 253 | $ | 287 | |||||
Research and development | 324 | 1,191 | |||||||
Sales and marketing | 1,094 | 891 | |||||||
General and administrative | 3,478 | 3,335 | |||||||
5,149 | 5,704 | ||||||||
Benefit for income taxes | (2,373 | ) | (1,778 | ) | |||||
Stock-based compensation, net of tax | $ | 2,776 | $ | 3,926 | |||||
Net_Income_Loss_per_Common_Sha
Net Income (Loss) per Common Share | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Net Income (Loss) per Common Share | (7) Net Income (Loss) per Common Share | ||||||||
The following table sets forth the computation of basic and diluted net income (loss) per common share for the three months ended March 31, 2015 and 2014 (in thousands, except per share amounts): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Basic and diluted net income (loss) per common share: | |||||||||
Numerator: | |||||||||
Loss from continuing operations | $ | (7,549 | ) | $ | (2,850 | ) | |||
Preferred stock dividends | (5,250 | ) | (5,250 | ) | |||||
Loss from continuing operations attributable to common shares | (12,799 | ) | (8,100 | ) | |||||
Less: Net income attributable to non-controlling interest | 88 | 108 | |||||||
Loss from continuing operations attributable to Alere Inc. and Subsidiaries | (12,887 | ) | (8,208 | ) | |||||
Income (loss) from discontinued operations | 216,777 | (2,596 | ) | ||||||
Net income (loss) available to common stockholders | $ | 203,890 | $ | (10,804 | ) | ||||
Denominator: | |||||||||
Weighted-average common shares outstanding – basic and diluted | 84,338 | 82,387 | |||||||
Basic and diluted net income (loss) per common share: | |||||||||
Loss from continuing operations attributable to Alere Inc. and Subsidiaries | $ | (0.15 | ) | $ | (0.10 | ) | |||
Income (loss) from discontinued operations | 2.57 | (0.03 | ) | ||||||
Basic and diluted net income (loss) per common share | $ | 2.42 | $ | (0.13 | ) | ||||
The following potential dilutive securities were not included in the calculation of diluted net income (loss) per common share because the inclusion thereof would be antidilutive (in thousands): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Denominator: | |||||||||
Options to purchase shares of common stock | 7,882 | 11,143 | |||||||
Warrants | 4 | 4 | |||||||
Conversion shares related to 3% convertible senior subordinated notes | 3,411 | 3,411 | |||||||
Conversion shares related to subordinated convertible promissory notes | 27 | 27 | |||||||
Conversion shares related to Series B convertible preferred stock | 10,239 | 10,239 | |||||||
Common stock equivalents related to the settlement of a contingent consideration obligation | — | 358 | |||||||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 21,563 | 25,182 | |||||||
Stockholders_Equity_and_Noncon
Stockholders' Equity and Non-controlling Interests | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||
Stockholders' Equity and Non-controlling Interests | (8) Stockholders’ Equity and Non-controlling Interests | ||||||||||||||||||||||||
(a) Preferred Stock | |||||||||||||||||||||||||
For both the three months ended March 31, 2015 and 2014, Series B preferred stock dividends amounted to $5.3 million, which reduced earnings available to common stockholders for purposes of calculating net income (loss) per common share for each of the periods. As of March 31, 2015, $5.3 million of Series B preferred stock dividends was accrued. As of April 15, 2015, payments have been made covering all dividend periods through March 31, 2015. | |||||||||||||||||||||||||
The Series B preferred stock dividends for the three months ended March 31, 2015 and 2014 were paid in cash. | |||||||||||||||||||||||||
(b) Changes in Stockholders’ Equity and Non-controlling Interests | |||||||||||||||||||||||||
A summary of the changes in stockholders’ equity and non-controlling interests comprising total equity for the three months ended March 31, 2015 and 2014 is provided below (in thousands): | |||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Total | Non- | Total | Total | Non- | Total | ||||||||||||||||||||
Stockholders’ | controlling | Equity | Stockholders’ | controlling | Equity | ||||||||||||||||||||
Equity | Interests | Equity | Interests | ||||||||||||||||||||||
Equity, beginning of period | $ | 1,905,599 | $ | 4,146 | $ | 1,909,745 | $ | 2,073,256 | $ | 4,882 | $ | 2,078,138 | |||||||||||||
Issuance of common stock under employee compensation plans | 34,632 | — | 34,632 | 14,698 | — | 14,698 | |||||||||||||||||||
Preferred stock dividends | (5,323 | ) | — | (5,323 | ) | (5,323 | ) | — | (5,323 | ) | |||||||||||||||
Stock-based compensation expense | 5,149 | — | 5,149 | 5,704 | — | 5,704 | |||||||||||||||||||
Excess tax benefits on exercised stock options | (126 | ) | — | (126 | ) | 17 | — | 17 | |||||||||||||||||
Net income (loss) | 209,140 | 88 | 209,228 | (5,554 | ) | 108 | (5,446 | ) | |||||||||||||||||
Total other comprehensive loss | (81,724 | ) | — | (81,724 | ) | (11,275 | ) | — | (11,275 | ) | |||||||||||||||
Equity, end of period | $ | 2,067,347 | $ | 4,234 | $ | 2,071,581 | $ | 2,071,523 | $ | 4,990 | $ | 2,076,513 | |||||||||||||
Restructuring
Restructuring | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||
Restructuring | (9) Restructuring | ||||||||||||||||
The following table sets forth aggregate restructuring charges recorded in our consolidated statements of operations for the three months ended March 31, 2015 and 2014 (in thousands): | |||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
Statement of Operations Caption | 2015 | 2014 | |||||||||||||||
Cost of net revenue | $ | 1,502 | $ | 833 | |||||||||||||
Research and development | 493 | — | |||||||||||||||
Sales and marketing | 1,383 | 1,550 | |||||||||||||||
General and administrative | 892 | 2,015 | |||||||||||||||
Total operating expenses | 4,270 | 4,398 | |||||||||||||||
Interest expense, including amortization of original issue discounts and deferred financing costs | 7 | 12 | |||||||||||||||
Total charges | $ | 4,277 | $ | 4,410 | |||||||||||||
(a) 2014 Restructuring Plans | |||||||||||||||||
In 2014, management developed world-wide cost reduction plans to reduce costs and improve operational efficiencies within our professional diagnostics and corporate and other business segments, primarily impacting our global sales and marketing, information technology, and research and development groups, as well as closing certain business locations in Europe and Asia. The following table summarizes the restructuring activities related to our 2014 restructuring plans for the three months ended March 31, 2015 and 2014 and since inception of these restructuring plans (in thousands): | |||||||||||||||||
Three Months Ended March 31, | Since | ||||||||||||||||
Professional Diagnostics | 2015 | 2014 | Inception | ||||||||||||||
Severance-related costs | $ | 2,800 | $ | 2,364 | $ | 30,606 | |||||||||||
Facility and transition costs | 1,426 | 34 | 4,886 | ||||||||||||||
Cash charges | 4,226 | 2,398 | 35,492 | ||||||||||||||
Fixed asset and inventory impairments | 9 | 750 | 10,961 | ||||||||||||||
Total charges | $ | 4,235 | $ | 3,148 | $ | 46,453 | |||||||||||
Three Months Ended March 31, | Since | ||||||||||||||||
Corporate and Other | 2015 | 2014 | Inception | ||||||||||||||
Severance-related costs | $ | 42 | $ | 87 | $ | 2,943 | |||||||||||
Facility and transition costs | (7 | ) | 8 | 11,328 | |||||||||||||
Total cash charges | $ | 35 | $ | 95 | $ | 14,271 | |||||||||||
We anticipate incurring approximately $5.6 million in additional costs under our 2014 restructuring plans related to our professional diagnostics business segment, primarily related to the closure of our manufacturing facility in Israel. We do not anticipate incurring significant additional costs in our corporate and other business segment. As of March 31, 2015, $3.4 million in severance and facility exit costs arising under our 2014 restructuring plans remain unpaid. | |||||||||||||||||
(b) Restructuring Plans Prior to 2014 | |||||||||||||||||
In 2013, management developed cost reduction plans within our professional diagnostics segment impacting businesses in our United States, Europe and Asia Pacific regions. In 2011, management developed plans to consolidate operating activities among certain of our United States, European and Asia Pacific subsidiaries, including transferring the manufacturing of our Panbio products from Australia to our Standard Diagnostics facility in South Korea and eliminating redundant costs among our newly-acquired Axis-Shield subsidiaries. Additionally, in 2008, management developed and initiated plans to transition the Cholestech business to our San Diego, California facility. | |||||||||||||||||
The following table summarizes the restructuring activities within our professional diagnostics business segment related to our active 2013, 2011 and 2008 restructuring plans for the three months ended March 31, 2015 and 2014 and since inception of these plans (in thousands): | |||||||||||||||||
Three Months Ended March 31, | Since | ||||||||||||||||
Professional Diagnostics | 2015 | 2014 | Inception | ||||||||||||||
Severance-related costs | $ | — | $ | 897 | $ | 26,926 | |||||||||||
Facility and transition costs | — | 258 | 10,480 | ||||||||||||||
Other exit costs | 7 | 12 | 805 | ||||||||||||||
Cash charges | 7 | 1,167 | 38,211 | ||||||||||||||
Fixed asset and inventory impairments | — | — | 6,776 | ||||||||||||||
Intangible asset impairments | — | — | 686 | ||||||||||||||
Other non-cash charges | — | — | 64 | ||||||||||||||
Total charges | $ | 7 | $ | 1,167 | $ | 45,737 | |||||||||||
We do not anticipate incurring significant additional costs under these plans related to our professional diagnostics business segment. As of March 31, 2015, $0.6 million in cash charges remain unpaid, primarily related to facility lease obligations which are anticipated to continue through 2017. | |||||||||||||||||
(c) Restructuring Reserves | |||||||||||||||||
The following table summarizes our restructuring reserves related to the plans described above, of which $3.6 million is included in accrued expenses and other current liabilities and $0.4 million is included in other long-term liabilities on our accompanying consolidated balance sheets (in thousands): | |||||||||||||||||
Severance- | Facility and | Other Exit | Total | ||||||||||||||
related | Transition | Costs | |||||||||||||||
Costs | Costs | ||||||||||||||||
Balance, December 31, 2014 | $ | 4,590 | $ | 9,868 | $ | 290 | $ | 14,748 | |||||||||
Cash charges | 2,842 | 1,419 | 7 | 4,268 | |||||||||||||
Payments | (5,330 | ) | (9,230 | ) | (31 | ) | (14,591 | ) | |||||||||
Currency adjustments | (276 | ) | (145 | ) | — | (421 | ) | ||||||||||
Balance, March 31, 2015 | $ | 1,826 | $ | 1,912 | $ | 266 | $ | 4,004 | |||||||||
Longterm_Debt
Long-term Debt | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Long-term Debt | (10) Long-term Debt | ||||||||
We had the following long-term debt balances outstanding (in thousands): | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
A term loans(1) (2) (4) | $ | 608,123 | $ | 785,938 | |||||
B term loans(1) (3) (4) | 1,045,705 | 1,330,810 | |||||||
Revolving line of credit(1) (4) | — | 127,000 | |||||||
7.25% Senior notes | 450,000 | 450,000 | |||||||
6.5% Senior subordinated notes | 425,000 | 425,000 | |||||||
8.625% Senior subordinated notes | 400,000 | 400,000 | |||||||
3% Convertible senior subordinated notes | 150,000 | 150,000 | |||||||
Other lines of credit | 603 | 684 | |||||||
Other | 39,715 | 40,828 | |||||||
3,119,146 | 3,710,260 | ||||||||
Less: Short-term debt and current portion | (95,299 | ) | (88,875 | ) | |||||
$ | 3,023,847 | $ | 3,621,385 | ||||||
(1) | Incurred under our secured credit facility. | ||||||||
(2) | Includes “A” term loans and “Delayed Draw” term loans under our secured credit facility. | ||||||||
(3) | Includes term loans previously referred to as “Incremental B-1” term loans and “Incremental B-2” term loans under our secured credit facility, which term loans have been converted into and consolidated with the “B” term loans under our secured credit facility. | ||||||||
(4) | On May 15, 2015, we incurred an event of default under our secured credit facility when we failed to timely deliver these financial statements to our lenders. The default, which has since been cured, was not in existence on March 31, 2015. | ||||||||
In connection with our significant long-term debt issuances, we recorded interest expense, including amortization and write-offs of deferred financing costs and original issue discounts, in our accompanying consolidated statements of operations for the three months ended March 31, 2015 and 2014 as follows (in thousands): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Secured credit facility (1) | $ | 19,462 | $ | 24,762 | |||||
7.25% Senior notes | 8,524 | 8,525 | |||||||
6.5% Senior subordinated notes | 7,233 | 7,178 | |||||||
8.625% Senior subordinated notes | 9,273 | 9,273 | |||||||
3% Convertible senior subordinated notes | 1,246 | 1,246 | |||||||
$ | 45,738 | $ | 50,984 | ||||||
(1) | Includes “A” term loans, including the “Delayed-Draw” term loans; “B” term loans, including the term loans previously referred to as “Incremental B-1” term loans and “Incremental B-2” term loans, which term loans have been converted into and consolidated with the “B” term loans; and revolving line of credit loans. For the three months ended March 31, 2015 and 2014, the amounts include $0.4 million and $0.4 million, respectively, related to the amortization of fees paid for certain debt modifications. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Measurements | (11) Fair Value Measurements | ||||||||||||||||
We apply fair value measurement accounting to value our financial assets and liabilities. Fair value measurement accounting provides a framework for measuring fair value under U.S. GAAP and requires expanded disclosures regarding fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. | |||||||||||||||||
Described below are the three levels of inputs that may be used to measure fair value: | |||||||||||||||||
Level 1—Quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||
Level 2—Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||
Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||||
The following tables present information about our assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques we utilized to determine such fair value (in thousands): | |||||||||||||||||
Description | March 31, | Quoted Prices in | Significant Other | Unobservable Inputs | |||||||||||||
2015 | Active Markets | Observable Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
Assets: | |||||||||||||||||
Marketable securities | $ | 173 | $ | 173 | $ | — | $ | — | |||||||||
Total assets | $ | 173 | $ | 173 | $ | — | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration obligations (1) | $ | 114,297 | $ | — | $ | — | $ | 114,297 | |||||||||
Total liabilities | $ | 114,297 | $ | — | $ | — | $ | 114,297 | |||||||||
Description | December 31, | Quoted Prices in | Significant Other | Unobservable Inputs | |||||||||||||
2014 | Active Markets | Observable Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
Assets: | |||||||||||||||||
Marketable securities | $ | 259 | $ | 259 | $ | — | $ | — | |||||||||
Total assets | $ | 259 | $ | 259 | $ | — | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration obligations (1) | $ | 139,671 | $ | — | $ | — | $ | 139,671 | |||||||||
Total liabilities | $ | 139,671 | $ | — | $ | — | $ | 139,671 | |||||||||
(1) | We determine the fair value of the contingent consideration obligations based on a probability-weighted approach derived from earn-out criteria estimates and a probability assessment with respect to the likelihood of achieving the various earn-out criteria. The measurement is based upon significant inputs not observable in the market. Significant increases or decreases in any of these inputs could result in a significantly higher or lower fair value measurement. Changes in the fair value of these contingent consideration obligations are recorded as income or expense within operating income in our consolidated statements of operations. See Note 16 for additional information on the valuation of our contingent consideration obligations. | ||||||||||||||||
Changes in the fair value of our Level 3 contingent consideration obligations during the three months ended March 31, 2015 were as follows (in thousands): | |||||||||||||||||
Fair value of contingent consideration obligations, December 31, 2014 | $ | 139,671 | |||||||||||||||
Payments | (9,798 | ) | |||||||||||||||
Present value accretion and adjustments | (14,035 | ) | |||||||||||||||
Reclassification to other liability account | (1,550 | ) | |||||||||||||||
Foreign currency adjustments | 9 | ||||||||||||||||
Fair value of contingent consideration obligations, March 31, 2015 | $ | 114,297 | |||||||||||||||
At March 31, 2015 and December 31, 2014, the carrying amounts of cash and cash equivalents, restricted cash, receivables, accounts payable and other current liabilities approximated their estimated fair values. | |||||||||||||||||
The carrying amount and estimated fair value of our long-term debt were $3.1 billion and $3.2 billion, respectively, at March 31, 2015. The carrying amount and estimated fair value of our long-term debt were both $3.7 billion at December 31, 2014. The estimated fair value of our long-term debt was determined using market sources that were derived from available market information (Level 2 in the fair value hierarchy) and may not be representative of actual values that could have been or will be realized in the future. |
Defined_Benefit_Pension_Plan
Defined Benefit Pension Plan | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||
Defined Benefit Pension Plan | (12) Defined Benefit Pension Plan | ||||||||
Our subsidiary in England, Unipath Ltd., has a defined benefit pension plan established for certain of its employees. The net periodic benefit costs are as follows (in thousands): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Service cost | $ | — | $ | — | |||||
Interest cost | 229 | 199 | |||||||
Expected return on plan assets | (235 | ) | (188 | ) | |||||
Amortization of prior service cost | 336 | 110 | |||||||
Net periodic benefit cost | $ | 330 | $ | 121 | |||||
Financial_Information_by_Segme
Financial Information by Segment | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Financial Information by Segment | (13) Financial Information by Segment | ||||||||||||||||
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. Our chief operating decision-making group is composed of the chief executive officer and members of senior management. As a result of the sale of our health management business in January 2015, which was the largest component of our patient self-testing reporting segment, we no longer report our financial information in four operating segments. Our current reportable operating segments are professional diagnostics, consumer diagnostics, and corporate and other. The information below for the three months ended March 31, 2014 has been retroactively adjusted to reflect this change in reporting segments. Our operating results include license and royalty revenue which are allocated to professional diagnostics and consumer diagnostics on the basis of the original license or royalty agreement. We evaluate performance of our operating segments based on revenue and operating income (loss). Segment information for the three months ended March 31, 2015 and 2014 is as follows (in thousands): | |||||||||||||||||
Professional | Consumer | Corporate | Total | ||||||||||||||
Diagnostics | Diagnostics | and | |||||||||||||||
Other | |||||||||||||||||
Three Months Ended March 31, 2015: | |||||||||||||||||
Net revenue | $ | 586,185 | $ | 21,968 | $ | — | $ | 608,153 | |||||||||
Operating income (loss) | $ | 49,790 | $ | 2,204 | $ | (24,587 | ) | $ | 27,407 | ||||||||
Impairment and (gain) loss on dispositions, net | $ | 34,792 | $ | — | $ | — | $ | 34,792 | |||||||||
Depreciation and amortization | $ | 72,423 | $ | 711 | $ | 1,234 | $ | 74,368 | |||||||||
Restructuring charges | $ | 4,235 | $ | — | $ | 35 | $ | 4,270 | |||||||||
Stock-based compensation | $ | — | $ | — | $ | 5,149 | $ | 5,149 | |||||||||
Three Months Ended March 31, 2014: | |||||||||||||||||
Net revenue | $ | 602,937 | $ | 22,302 | $ | — | $ | 625,239 | |||||||||
Operating income (loss) | $ | 55,478 | $ | 699 | $ | (21,181 | ) | $ | 34,996 | ||||||||
Depreciation and amortization | $ | 82,406 | $ | 780 | $ | 634 | $ | 83,820 | |||||||||
Restructuring charges | $ | 4,303 | $ | — | $ | 95 | $ | 4,398 | |||||||||
Stock-based compensation | $ | — | $ | — | $ | 5,704 | $ | 5,704 | |||||||||
Assets: | |||||||||||||||||
As of March 31, 2015 | $ | 5,842,150 | $ | 225,696 | $ | 80,525 | $ | 6,148,371 | |||||||||
As of December 31, 2014 | $ | 6,323,944 | $ | 216,451 | $ | 138,561 | $ | 6,678,956 | |||||||||
The following tables summarize our net revenue from the professional diagnostics reporting segment by groups of similar products and services for the three months ended March 31, 2015 and 2014 (in thousands): | |||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Cardiometabolic | $ | 202,843 | $ | 213,963 | |||||||||||||
Infectious disease | 178,756 | 167,613 | |||||||||||||||
Toxicology | 148,756 | 155,533 | |||||||||||||||
Other | 51,132 | 60,616 | |||||||||||||||
Total professional diagnostics net product sales and services revenue | 581,487 | 597,725 | |||||||||||||||
License and royalty revenue | 4,698 | 5,212 | |||||||||||||||
Total professional diagnostics net revenue | $ | 586,185 | $ | 602,937 | |||||||||||||
Related_Party_Transactions
Related Party Transactions | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Related Party Transactions | (14) Related Party Transactions | ||||||||
(a) SPD Joint Venture | |||||||||
In May 2007, we completed the formation of SPD Swiss Precision Diagnostics GmbH, or SPD, our 50/50 joint venture with Procter & Gamble, or P&G, for the development, manufacturing, marketing and sale of existing and to-be-developed consumer diagnostic products, outside the cardiometabolic, diabetes and oral care fields. Upon completion of the arrangement to form the joint venture, we ceased to consolidate the operating results of our consumer diagnostic products business related to the joint venture and instead account for our 50% interest in the results of the joint venture under the equity method of accounting. | |||||||||
We had a net payable to SPD of $3.5 million as of March 31, 2015 and a net payable to SPD of $4.0 million as of December 31, 2014. Included in the $3.5 million payable balance as of March 31, 2015 is a receivable of approximately $1.5 million for costs incurred in connection with our 2008 SPD-related restructuring plans. Included in the $4.0 million payable balance as of December 31, 2014 is approximately $1.6 million of costs incurred in connection with our 2008 SPD-related restructuring plans. We have also recorded a long-term receivable totaling approximately $10.4 million and $10.9 million as of March 31, 2015 and December 31, 2014, respectively, related to the 2008 SPD-related restructuring plans. Additionally, customer receivables associated with revenue earned after the formation of the joint venture have been classified as other receivables within prepaid and other current assets on our consolidated balance sheets in the amount of $7.7 million and $9.6 million as of March 31, 2015 and December 31, 2014, respectively. In connection with the joint venture arrangement, the joint venture bears the collection risk associated with these receivables. Sales to the joint venture under our manufacturing agreement totaled $19.5 million and $20.6 million during the three-month periods ended March 31, 2015 and 2014, respectively. Additionally, services revenue generated pursuant to the long-term services agreement with the joint venture totaled $0.3 million and $0.4 million during the three-month periods ended March 31, 2015 and 2014, respectively. Sales under our manufacturing agreement and long-term services agreement are included in net product sales and services revenue, respectively, in our accompanying consolidated statements of operations. | |||||||||
Under the terms of our product supply agreement, SPD purchases products from our manufacturing facilities in China. SPD in turn sells a portion of those tests back to us for final assembly and packaging. Once packaged, a portion of the tests are sold to P&G for distribution to third-party customers in North America. As a result of these related transactions, we have recorded $6.1 million and $10.5 million of trade receivables which are included in accounts receivable on our consolidated balance sheets as of March 31, 2015 and December 31, 2014, respectively, and $31.2 million and $30.8 million of trade accounts payable which are included in accounts payable on our consolidated balance sheets as of March 31, 2015 and December 31, 2014, respectively. | |||||||||
The following table summarizes our related party balances with SPD within our consolidated balance sheets (in thousands): | |||||||||
Balance Sheet Caption | March 31, 2015 | December 31, 2014 | |||||||
Accounts receivable, net of allowances | $ | 6,139 | $ | 10,465 | |||||
Prepaid expenses and other current assets | $ | 7,659 | $ | 9,635 | |||||
Deferred financing costs, net, and other non-current assets | $ | 10,385 | $ | 10,875 | |||||
Accounts payable | $ | 34,671 | $ | 34,816 | |||||
(b) Entrustment Loan Arrangement with SPD Shanghai | |||||||||
Our subsidiary Alere (Shanghai) Diagnostics Co., Ltd., or Alere Shanghai, and SPD’s subsidiary SPD Trading (Shanghai) Co., Ltd., or SPD Shanghai, entered into an entrustment loan arrangement for a maximum of CNY 23 million (approximately $3.8 million at March 31, 2015), in order to finance the latter’s short-term working capital needs, with the Royal Bank of Scotland (China) Co., Ltd. Shanghai Branch, or RBS. The agreement governs the setting up of an Entrustment Loan Account with RBS, into which Alere Shanghai deposits certain monies. This restricted cash account provides a guarantee to RBS of amounts borrowed from RBS by SPD Shanghai. The Alere Shanghai RBS account is recorded as restricted cash on our balance sheet and amounted to $3.8 million at March 31, 2015. |
Other_Arrangements
Other Arrangements | 3 Months Ended |
Mar. 31, 2015 | |
Text Block [Abstract] | |
Other Arrangements | (15) Other Arrangements |
In September 2014, we entered into a contract with the U.S. Department of Health and Human Services’ Biomedical Advanced Research and Development Authority, or BARDA, to develop diagnostic countermeasures for pandemic influenza. Under the terms of the 3.5 year contract, BARDA will provide up to $12.9 million to us to support the development of a rapid, molecular, low-cost influenza diagnostic device with PCR-like performance at the point-of-care. The project is designed to help support future preparedness and medical response to an influenza pandemic. Funding from BARDA is subject to successful completion of various interim feasibility and development milestones as defined in the agreement. For the three months ended March 31, 2015, we had incurred $0.5 million of qualified expenditures under the contract, for which we had received cash reimbursement from BARDA in the amount of $0.3 million, and $0.1 million was recorded as a receivable as of that date. Reimbursements of qualified expenditures under this contract are recorded as a reduction of our related qualified research and development expenditures. | |
In February 2013, we entered into an agreement with the Bill and Melinda Gates Foundation, or the Gates Foundation, whereby we were awarded a grant by the Gates Foundation in the amount of $21.6 million to support the development and commercialization of a validated, low-cost, nucleic-acid assay for clinical Tuberculosis, or TB, detection and drug-resistance test cartridges and adaptation of an analyzer platform capable of operation in rudimentary laboratories in low-resource settings. In connection with this agreement, we also entered into a loan agreement with the Gates Foundation, or the Gates Loan Agreement, which provides for the making of subordinated term loans by the Gates Foundation to us from time to time, subject to the achievement of certain milestones, in an aggregate principal amount of up to $20.6 million. Funding under the Gates Loan Agreement will be used in connection with the purchase of equipment for an automated high-throughput manufacturing line and other uses as necessary for the manufacture of the TB and HIV-related products. All loans under the Gates Loan Agreement are evidenced by promissory notes that we have executed and delivered to the Gates Foundation, bear interest at the rate of 3% per annum and, except to the extent earlier repaid by us, mature and are required to be repaid in full on December 31, 2019. As of March 31, 2015, we had borrowed no amounts under the Gates Loan Agreement. As of March 31, 2015, we had received approximately $17.4 million in grant-related funding from the Gates Foundation, which was recorded as restricted cash and deferred grant funding. The deferred grant funding is classified within accrued expenses and other current liabilities on our accompanying consolidated balance sheet. As qualified expenditures are incurred under the terms of the grant, we use the deferred funding to recognize a reduction of our related qualified research and development expenditures. For each of the three months ended March 31, 2015 and 2014, we incurred $2.1 million of qualified expenditures, for which we reduced our deferred grant funding balance and recorded an offset to our research and development expenses. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||
Commitments and Contingencies | (16) Commitments and Contingencies | ||||||||||||||||||||||||||||
Acquisition-related Contingent Consideration Obligations | |||||||||||||||||||||||||||||
We have contractual contingent purchase price consideration obligations related to certain of our acquisitions. We determine the acquisition date fair value of the contingent consideration obligations based on a probability-weighted approach derived from the overall likelihood of achieving certain performance targets, including product development milestones or financial metrics. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement, as defined in fair value measurement accounting. The resultant probability-weighted earn-out payments are discounted using a discount rate based upon the weighted-average cost of capital. At each reporting date, we revalue the contingent consideration obligations to the reporting date fair values and record increases and decreases in the fair values as income or expense in our consolidated statements of operations. | |||||||||||||||||||||||||||||
Increases or decreases in the fair values of the contingent consideration obligations may result from changes in discount periods and rates, changes in the timing and amount of earn-out criteria and changes in probability assumptions with respect to the likelihood of achieving the various earn-out criteria. | |||||||||||||||||||||||||||||
The following table summarizes our contractual contingent purchase price consideration obligations related to certain of our acquisitions, as follows (in thousands): | |||||||||||||||||||||||||||||
Acquisition | Acquisition Date | Acquisition | Maximum | Remaining | Estimated | Estimated | Payments | ||||||||||||||||||||||
Date Fair | Remaining | Earn-out | Fair Value as | Fair Value as | Made | ||||||||||||||||||||||||
Value | Earn-out | Period as | of | of | During | ||||||||||||||||||||||||
Potential | of | March 31, | December 31, | 2015 | |||||||||||||||||||||||||
as of | March 31, | 2015 | 2014 | ||||||||||||||||||||||||||
March 31, | 2015 | ||||||||||||||||||||||||||||
2015 | |||||||||||||||||||||||||||||
TwistDx, Inc.(1) | March 11, 2010 | $ | 35,600 | $ | 103,552 | 2015 – 2025 | -5 | $ | 36,200 | $ | 41,100 | $ | 5,072 | ||||||||||||||||
Ionian Technologies, Inc. (2) | 12-Jul-10 | $ | 24,500 | $ | 50,000 | 2015 | 25,200 | 24,500 | — | ||||||||||||||||||||
DiagnosisOne, Inc. (3) | 31-Jul-12 | $ | 22,300 | $ | — | — | — | 21,000 | 4,450 | ||||||||||||||||||||
Epocal(4) | February 1, 2013 | $ | 75,000 | $ | 65,500 | 2015 – 2018 | 47,500 | 47,200 | — | ||||||||||||||||||||
Other | Various | $ | 43,854 | $ | — | (6) | 2015 – 2016 | 5,397 | 5,871 | 276 | |||||||||||||||||||
$ | 114,297 | $ | 139,671 | $ | 9,798 | ||||||||||||||||||||||||
(1) | The terms of the acquisition agreement require us to pay an earn-out upon successfully meeting certain revenue and product development targets through 2025. | ||||||||||||||||||||||||||||
(2) | The terms of the acquisition agreement require us to pay earn-outs upon successfully meeting multiple product development milestones during the five years following the acquisition. | ||||||||||||||||||||||||||||
(3) | On March 25, 2015, the remaining earn-out was settled for $6.0 million, of which $4.5 million was paid on March 27, 2015. The outstanding balance of $1.5 million is accrued as of March 31, 2015 and is reflected in other current liabilities on our accompanying consolidated balance sheet as of that date. The remaining $15 million was reversed and recorded as a credit to general and administrative expenses. | ||||||||||||||||||||||||||||
(4) | The terms of the acquisition agreement require us to pay earn-outs and management incentive payments upon successfully meeting certain product development and United States Food and Drug Administration regulatory approval milestones from the date of acquisition through December 31, 2018. | ||||||||||||||||||||||||||||
(5) | The maximum earn-out period ends on the fifteenth anniversary of the acquisition date. | ||||||||||||||||||||||||||||
(6) | The maximum remaining earn-out potential for the other acquisitions is not determinable due to the nature of one of the earn-outs, which is tied to an unlimited revenue metric. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | (17) Recent Accounting Pronouncements |
From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies that we adopt as of the specified effective date. For a discussion of new accounting standards, please see Note 4, Summary of Significant Accounting Policies, to our consolidated financial statements included within our Annual Report on Form 10-K/A for the year ended December 31, 2014. |
Equity_Investments
Equity Investments | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Equity Method Investments and Joint Ventures [Abstract] | |||||||||
Equity Investments | (18) Equity Investments | ||||||||
We account for the results from our equity investments under the equity method of accounting in accordance with Accounting Standards Codification, or ASC, 323, Investments—Equity Method and Joint Ventures, based on the percentage of our ownership interest in the business. Our equity investments primarily include the following: | |||||||||
(a) SPD | |||||||||
We recorded earnings of $3.6 million and $5.1 million during the three months ended March 31, 2015 and 2014, respectively, in equity earnings of unconsolidated entities, net of tax, in our accompanying consolidated statements of operations, which represented our 50% share of SPD’s net income for the respective periods. | |||||||||
(b) TechLab | |||||||||
We own 49% of TechLab, Inc., or TechLab, a privately-held developer, manufacturer and distributor of rapid non-invasive intestinal diagnostics tests in the areas of intestinal inflammation, antibiotic-associated diarrhea and parasitology. We recorded earnings of $0.4 million and $0.3 million during the three months ended March 31, 2015 and 2014, respectively, in equity earnings of unconsolidated entities, net of tax, in our accompanying consolidated statements of operations, which represented our minority share of TechLab’s net income for the respective periods. | |||||||||
Summarized financial information for SPD and TechLab on a combined basis is as follows (in thousands): | |||||||||
Three Months Ended March 31, | |||||||||
Combined Condensed Results of Operations: | 2015 | 2014 | |||||||
Net revenue | $ | 47,857 | $ | 48,933 | |||||
Gross profit | $ | 33,271 | $ | 42,980 | |||||
Net income after taxes | $ | 8,057 | $ | 10,830 | |||||
Combined Condensed Balance Sheet: | March 31, 2015 | December 31, 2014 | |||||||
Current assets | $ | 90,482 | $ | 90,546 | |||||
Non-current assets | 32,774 | 33,697 | |||||||
Total assets | $ | 123,256 | $ | 124,243 | |||||
Current liabilities | $ | 31,455 | $ | 35,954 | |||||
Non-current liabilities | 6,145 | 5,884 | |||||||
Total liabilities | $ | 37,600 | $ | 41,838 | |||||
Directresponse_Advertising
Direct-response Advertising | 3 Months Ended |
Mar. 31, 2015 | |
Text Block [Abstract] | |
Direct-response Advertising | (20) Direct-response Advertising |
In connection with our mail order diabetes business, we incurred direct-response advertising and associated costs in connection with the placement of advertisements. Direct-response advertising and associated costs payable to third parties for the period presented are capitalized and amortized to selling, general and administrative expenses on an accelerated basis in the month following the broadcast month. Management assesses the realizability of the amounts of direct-response advertising costs reported as assets at each balance sheet date by comparing the net carrying value of capitalized advertising to the net present value of estimated future orders expected to result directly from such advertising. Advertising that does not meet the capitalization requirements is expensed in the current period. | |
Any change in existing accounting rules or a business change that impacts expected future orders or that shortens the period over which such net future benefits are estimated to be realized could result in accelerated charges against our earnings. In addition, new or different marketing initiatives that may not qualify for direct-response advertising could result in accelerated charges against our earnings. Whether there is an impairment loss or not is determined by comparing the net carrying value of direct-response advertising costs capitalized as assets at each balance sheet date to the probable remaining future orders expected to result directly from such advertising. If the net carrying value of the assets exceeds the probable remaining future orders expected to result directly from such assets, an impairment loss is recognized in an amount equal to that excess. Future benefits are determined by calculating the net present value of estimated future orders per cost pool. Net present value is calculated based upon the value of an order multiplied by the estimated future orders. Estimate of future orders is determined based on historical customer reorder rates. We perform the impairment test of our direct-response advertising asset in the quarter following the advertising broadcast quarter. |
Benefit_for_Income_Taxes
Benefit for Income Taxes | 3 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Benefit for Income Taxes | (21) Benefit for Income Taxes |
The benefit for income taxes increased by $7.1 million to a $8.8 million benefit for the three months ended March 31, 2015, from a $1.7 million benefit for the three months ended March 31, 2014. The effective tax rate for the three months ended March 31, 2015 and 2014 was 43% and 17.0%, respectively. Our effective tax rate is based on our year-to-date results and projected income (loss) and is primarily impacted by changes in the geographical mix of consolidated pre-tax income (loss) as well as items that are accounted for discretely in the quarter. The increase in the effective tax rate from the three months ended March 31, 2014 to the three months ended March 31, 2015 is primarily a result of our year-to-date results and the impact of discrete items on our year-to-date results. |
Guarantor_Financial_Informatio
Guarantor Financial Information | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||
Guarantor Financial Information | (22) Guarantor Financial Information | ||||||||||||||||||||
Our 7.25% senior notes due 2018, our 8.625% senior subordinated notes due 2018 and our 6.5% senior subordinated notes due 2020 are guaranteed by certain of our consolidated 100% owned subsidiaries, or the Guarantor Subsidiaries. The guarantees are full and unconditional and joint and several. The following supplemental financial information sets forth, on a consolidating basis, balance sheets as of March 31, 2015 and December 31, 2014, the related statements of operations, statements of comprehensive loss and cash flows for each of the three months ended March 31, 2015 and 2014, respectively, for Alere Inc., the Guarantor Subsidiaries and our other subsidiaries, or the Non-Guarantor Subsidiaries. The supplemental financial information reflects the investments of Alere Inc. and the Guarantor Subsidiaries in the Guarantor and Non-Guarantor Subsidiaries using the equity method of accounting. | |||||||||||||||||||||
We have extensive transactions and relationships between various members of the consolidated group. These transactions and relationships include intercompany pricing agreements, intellectual property royalty agreements and general and administrative and research and development cost-sharing agreements. Because of these relationships, it is possible that the terms of these transactions are not the same as those that would result from transactions among wholly unrelated parties. | |||||||||||||||||||||
For comparative purposes, certain amounts for prior periods have been reclassified to conform to the current period classification. Prior periods have been presented on a basis that is consistent with the current period, giving retrospective effect to the impact of discontinued operations. | |||||||||||||||||||||
CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Net product sales | $ | — | $ | 217,208 | $ | 323,197 | $ | (60,806 | ) | $ | 479,599 | ||||||||||
Services revenue | — | 108,057 | 15,799 | — | 123,856 | ||||||||||||||||
Net product sales and services revenue | — | 325,265 | 338,996 | (60,806 | ) | 603,455 | |||||||||||||||
License and royalty revenue | — | 3,197 | 4,363 | (2,862 | ) | 4,698 | |||||||||||||||
Net revenue | — | 328,462 | 343,359 | (63,668 | ) | 608,153 | |||||||||||||||
Cost of net product sales | 416 | 113,191 | 180,046 | (55,016 | ) | 238,637 | |||||||||||||||
Cost of services revenue | 50 | 74,037 | 8,395 | (6,901 | ) | 75,581 | |||||||||||||||
Cost of net product sales and services revenue | 466 | 187,228 | 188,441 | (61,917 | ) | 314,218 | |||||||||||||||
Cost of license and royalty revenue | (40 | ) | 808 | 4,044 | (2,862 | ) | 1,950 | ||||||||||||||
Cost of net revenue | 426 | 188,036 | 192,485 | (64,779 | ) | 316,168 | |||||||||||||||
Gross profit (loss) | (426 | ) | 140,426 | 150,874 | 1,111 | 291,985 | |||||||||||||||
Operating expenses: | |||||||||||||||||||||
Research and development | 2,302 | 14,919 | 10,795 | — | 28,016 | ||||||||||||||||
Sales and marketing | 1,260 | 53,227 | 54,592 | — | 109,079 | ||||||||||||||||
General and administrative | 20,523 | 37,770 | 34,398 | — | 92,691 | ||||||||||||||||
Impairment and (gain) loss on dispositions, net | 36,523 | 30,608 | (32,339 | ) | — | 34,792 | |||||||||||||||
Operating income (loss) | (61,034 | ) | 3,902 | 83,428 | 1,111 | 27,407 | |||||||||||||||
Interest expense, including amortization of original issue discounts and deferred financing costs | (46,098 | ) | (3,285 | ) | (4,043 | ) | 6,995 | (46,431 | ) | ||||||||||||
Other income (expense), net | 3,647 | 4,299 | (2,221 | ) | (6,995 | ) | (1,270 | ) | |||||||||||||
Income (loss) from continuing operations before provision (benefit) for income taxes | (103,485 | ) | 4,916 | 77,164 | 1,111 | (20,294 | ) | ||||||||||||||
Provision (benefit) for income taxes | (20,667 | ) | 1,820 | 9,715 | 346 | (8,786 | ) | ||||||||||||||
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | (82,818 | ) | 3,096 | 67,449 | 765 | (11,508 | ) | ||||||||||||||
Equity in earnings of subsidiaries, net of tax | 72,933 | — | — | (72,933 | ) | — | |||||||||||||||
Equity earnings of unconsolidated entities, net of tax | 424 | — | 3,568 | (33 | ) | 3,959 | |||||||||||||||
Income (loss) from continuing operations | (9,461 | ) | 3,096 | 71,017 | (72,201 | ) | (7,549 | ) | |||||||||||||
Income (loss) from discontinued operations, net of tax | 218,689 | (1,912 | ) | — | — | 216,777 | |||||||||||||||
Net income | 209,228 | 1,184 | 71,017 | (72,201 | ) | 209,228 | |||||||||||||||
Less: Net income attributable to non-controlling interests | — | — | 88 | — | 88 | ||||||||||||||||
Net income attributable to Alere Inc. and Subsidiaries | 209,228 | 1,184 | 70,929 | (72,201 | ) | 209,140 | |||||||||||||||
Preferred stock dividends | (5,250 | ) | — | — | — | (5,250 | ) | ||||||||||||||
Net income available to common stockholders | $ | 203,978 | $ | 1,184 | $ | 70,929 | $ | (72,201 | ) | $ | 203,890 | ||||||||||
CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Net product sales | $ | — | $ | 209,284 | $ | 335,738 | $ | (53,703 | ) | $ | 491,319 | ||||||||||
Services revenue | — | 110,651 | 18,057 | — | 128,708 | ||||||||||||||||
Net product sales and services revenue | — | 319,935 | 353,795 | (53,703 | ) | 620,027 | |||||||||||||||
License and royalty revenue | — | 3,484 | 5,019 | (3,291 | ) | 5,212 | |||||||||||||||
Net revenue | — | 323,419 | 358,814 | (56,994 | ) | 625,239 | |||||||||||||||
Cost of net product sales | 688 | 111,018 | 183,760 | (52,485 | ) | 242,981 | |||||||||||||||
Cost of services revenue | 73 | 67,708 | 8,001 | (5,421 | ) | 70,361 | |||||||||||||||
Cost of net product sales and services revenue | 761 | 178,726 | 191,761 | (57,906 | ) | 313,342 | |||||||||||||||
Cost of license and royalty revenue | — | 92 | 4,738 | (3,291 | ) | 1,539 | |||||||||||||||
Cost of net revenue | 761 | 178,818 | 196,499 | (61,197 | ) | 314,881 | |||||||||||||||
Gross profit (loss) | (761 | ) | 144,601 | 162,315 | 4,203 | 310,358 | |||||||||||||||
Operating expenses: | |||||||||||||||||||||
Research and development | 5,615 | 14,845 | 18,239 | — | 38,699 | ||||||||||||||||
Sales and marketing | 1,868 | 60,939 | 70,237 | — | 133,044 | ||||||||||||||||
General and administrative | 18,756 | 36,069 | 48,794 | — | 103,619 | ||||||||||||||||
Operating income (loss) | (27,000 | ) | 32,748 | 25,045 | 4,203 | 34,996 | |||||||||||||||
Interest expense, including amortization of original issue discounts and deferred financing costs | (51,258 | ) | (5,494 | ) | (4,544 | ) | 9,386 | (51,910 | ) | ||||||||||||
Other income (expense), net | 4,694 | 5,959 | 5,823 | (9,444 | ) | 7,032 | |||||||||||||||
Income (loss) before provision (benefit) for income taxes | (73,564 | ) | 33,213 | 26,324 | 4,145 | (9,882 | ) | ||||||||||||||
Provision (benefit) for income taxes | (32,316 | ) | 20,619 | 8,559 | 1,458 | (1,680 | ) | ||||||||||||||
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | (41,248 | ) | 12,594 | 17,765 | 2,687 | (8,202 | ) | ||||||||||||||
Equity in earnings of subsidiaries, net of tax | 35,069 | 68 | — | (35,137 | ) | — | |||||||||||||||
Equity earnings of unconsolidated entities, net of tax | 405 | — | 5,064 | (117 | ) | 5,352 | |||||||||||||||
Income (loss) on continuing operations | (5,774 | ) | 12,662 | 22,829 | (32,567 | ) | (2,850 | ) | |||||||||||||
Income (loss) from discontinued operations, net of tax | 328 | (3,759 | ) | 835 | — | (2,596 | ) | ||||||||||||||
Net income (loss) | (5,446 | ) | 8,903 | 23,664 | (32,567 | ) | (5,446 | ) | |||||||||||||
Less: Net income attributable to non-controlling interests | — | — | 108 | — | 108 | ||||||||||||||||
Net income (loss) attributable to Alere Inc. and Subsidiaries | (5,446 | ) | 8,903 | 23,556 | (32,567 | ) | (5,554 | ) | |||||||||||||
Preferred stock dividends | (5,250 | ) | — | — | — | (5,250 | ) | ||||||||||||||
Net income (loss) available to common stockholders | $ | (10,696 | ) | $ | 8,903 | $ | 23,556 | $ | (32,567 | ) | $ | (10,804 | ) | ||||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Net income | $ | 209,228 | $ | 1,184 | $ | 71,017 | $ | (72,201 | ) | $ | 209,228 | ||||||||||
Other comprehensive loss, before tax: | |||||||||||||||||||||
Changes in cumulative translation adjustment | (657 | ) | (572 | ) | (79,113 | ) | — | (80,342 | ) | ||||||||||||
Minimum pension liability adjustment | — | — | (1,382 | ) | — | (1,382 | ) | ||||||||||||||
Other comprehensive loss, before tax | (657 | ) | (572 | ) | (80,495 | ) | — | (81,724 | ) | ||||||||||||
Income tax benefit related to items of other comprehensive income (loss) | — | — | — | — | — | ||||||||||||||||
Other comprehensive loss, net of tax | (657 | ) | (572 | ) | (80,495 | ) | — | (81,724 | ) | ||||||||||||
Comprehensive income (loss) | 208,571 | 612 | (9,478 | ) | (72,201 | ) | 127,504 | ||||||||||||||
Less: Comprehensive income attributable to non-controlling interests | — | — | 88 | — | 88 | ||||||||||||||||
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | $ | 208,571 | $ | 612 | $ | (9,566 | ) | $ | (72,201 | ) | $ | 127,416 | |||||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Net income (loss) | $ | (5,446 | ) | $ | 8,903 | $ | 23,664 | $ | (32,567 | ) | $ | (5,446 | ) | ||||||||
Other comprehensive income (loss), before tax: | |||||||||||||||||||||
Changes in cumulative translation adjustment | 157 | (129 | ) | (11,368 | ) | — | (11,340 | ) | |||||||||||||
Unrealized losses on available for sale securities | — | (17 | ) | — | — | (17 | ) | ||||||||||||||
Unrealized gains on hedging instruments | — | — | 8 | — | 8 | ||||||||||||||||
Minimum pension liability adjustment | — | — | 74 | — | 74 | ||||||||||||||||
Other comprehensive income (loss), before tax | 157 | (146 | ) | (11,286 | ) | — | (11,275 | ) | |||||||||||||
Income tax benefit related to items of other comprehensive loss | — | — | — | — | — | ||||||||||||||||
Other comprehensive income (loss), net of tax | 157 | (146 | ) | (11,286 | ) | — | (11,275 | ) | |||||||||||||
Comprehensive income (loss) | (5,289 | ) | 8,757 | 12,378 | (32,567 | ) | (16,721 | ) | |||||||||||||
Less: Comprehensive income attributable to non-controlling interests | — | — | 108 | — | 108 | ||||||||||||||||
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | $ | (5,289 | ) | $ | 8,757 | $ | 12,270 | $ | (32,567 | ) | $ | (16,829 | ) | ||||||||
CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 13,827 | $ | 87,557 | $ | 313,111 | $ | — | $ | 414,495 | |||||||||||
Restricted cash | 3,094 | — | 34,312 | — | 37,406 | ||||||||||||||||
Marketable securities | — | 173 | — | — | 173 | ||||||||||||||||
Accounts receivable, net of allowances | — | 190,217 | 281,446 | — | 471,663 | ||||||||||||||||
Inventories, net | — | 194,768 | 200,614 | (20,409 | ) | 374,973 | |||||||||||||||
Deferred tax assets | (37,763 | ) | 29,263 | 31,114 | — | 22,614 | |||||||||||||||
Prepaid expenses and other current assets | 24,096 | 18,365 | 70,838 | 4,625 | 117,924 | ||||||||||||||||
Assets held for sale | — | — | — | — | — | ||||||||||||||||
Intercompany receivables | 614,397 | 629,354 | 44,793 | (1,288,544 | ) | — | |||||||||||||||
Total current assets | 617,651 | 1,149,697 | 976,228 | (1,304,328 | ) | 1,439,248 | |||||||||||||||
Property, plant and equipment, net | 27,988 | 222,584 | 196,114 | 19 | 446,705 | ||||||||||||||||
Goodwill | — | 1,790,956 | 1,089,208 | — | 2,880,164 | ||||||||||||||||
Other intangible assets with indefinite lives | — | 8,139 | 32,123 | (59 | ) | 40,203 | |||||||||||||||
Finite-lived intangible assets, net | 5,649 | 688,605 | 479,612 | — | 1,173,866 | ||||||||||||||||
Deferred financing costs, net and other non-current assets | 36,867 | 4,870 | 19,825 | (85 | ) | 61,477 | |||||||||||||||
Investments in subsidiaries | 3,235,062 | 179,176 | 58,132 | (3,472,370 | ) | — | |||||||||||||||
Investments in unconsolidated entities | 14,677 | 14,765 | 52,853 | 13,256 | 95,551 | ||||||||||||||||
Deferred tax assets | — | — | 8,612 | — | 8,612 | ||||||||||||||||
Non-current income tax receivable | 2,545 | — | — | — | 2,545 | ||||||||||||||||
Intercompany notes receivables | 2,040,842 | 713,417 | 46,976 | (2,801,235 | ) | — | |||||||||||||||
Total assets | $ | 5,981,281 | $ | 4,772,209 | $ | 2,959,683 | $ | (7,564,802 | ) | $ | 6,148,371 | ||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Short-term debt and current portion of long-term debt | $ | 68,711 | $ | — | $ | 26,588 | $ | — | $ | 95,299 | |||||||||||
Current portion of capital lease obligations | — | 2,185 | 2,887 | — | 5,072 | ||||||||||||||||
Accounts payable | 13,811 | 81,095 | 101,074 | — | 195,980 | ||||||||||||||||
Accrued expenses and other current liabilities | (481,993 | ) | 615,859 | 228,532 | 2,494 | 364,892 | |||||||||||||||
Intercompany payables | 794,586 | 255,402 | 238,558 | (1,288,546 | ) | — | |||||||||||||||
Total current liabilities | 395,115 | 954,541 | 597,639 | (1,286,052 | ) | 661,243 | |||||||||||||||
Long-term liabilities: | |||||||||||||||||||||
Long-term debt, net of current portion | 3,018,829 | — | 5,018 | — | 3,023,847 | ||||||||||||||||
Capital lease obligations, net of current portion | — | 2,330 | 5,417 | — | 7,747 | ||||||||||||||||
Deferred tax liabilities | (37,773 | ) | 217,479 | 66,150 | 7 | 245,863 | |||||||||||||||
Other long-term liabilities | 41,796 | 46,019 | 50,360 | (85 | ) | 138,090 | |||||||||||||||
Intercompany notes payables | 495,967 | 1,258,851 | 1,046,416 | (2,801,234 | ) | — | |||||||||||||||
Total long-term liabilities | 3,518,819 | 1,524,679 | 1,173,361 | (2,801,312 | ) | 3,415,547 | |||||||||||||||
Stockholders’ equity | 2,067,347 | 2,292,989 | 1,184,449 | (3,477,438 | ) | 2,067,347 | |||||||||||||||
Non-controlling interests | — | — | 4,234 | — | 4,234 | ||||||||||||||||
Total equity | 2,067,347 | 2,292,989 | 1,188,683 | (3,477,438 | ) | 2,071,581 | |||||||||||||||
Total liabilities and equity | $ | 5,981,281 | $ | 4,772,209 | $ | 2,959,683 | $ | (7,564,802 | ) | $ | 6,148,371 | ||||||||||
CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 2,149 | $ | 69,154 | $ | 307,158 | $ | — | $ | 378,461 | |||||||||||
Restricted cash | 5,012 | — | 32,559 | — | 37,571 | ||||||||||||||||
Marketable securities | — | 259 | — | — | 259 | ||||||||||||||||
Accounts receivable, net of allowances | — | 192,775 | 273,331 | — | 466,106 | ||||||||||||||||
Inventories, net | — | 191,323 | 195,606 | (21,764 | ) | 365,165 | |||||||||||||||
Deferred tax assets | 36,347 | 44,961 | 31,265 | — | 112,573 | ||||||||||||||||
Prepaid expenses and other current assets | 9,800 | 31,410 | 88,695 | 2,508 | 132,413 | ||||||||||||||||
Assets held for sale | 1,361 | 284,369 | 29,785 | — | 315,515 | ||||||||||||||||
Intercompany receivables | 404,990 | 888,688 | 55,923 | (1,349,601 | ) | — | |||||||||||||||
Total current assets | 459,659 | 1,702,939 | 1,014,322 | (1,368,857 | ) | 1,808,063 | |||||||||||||||
Property, plant and equipment, net | 30,547 | 218,613 | 204,188 | 222 | 453,570 | ||||||||||||||||
Goodwill | — | 1,795,663 | 1,131,003 | — | 2,926,666 | ||||||||||||||||
Other intangible assets with indefinite lives | — | 9,287 | 34,422 | (58 | ) | 43,651 | |||||||||||||||
Finite-lived intangible assets, net | 6,104 | 742,760 | 527,580 | — | 1,276,444 | ||||||||||||||||
Deferred financing costs, net and other non-current assets | 40,992 | 5,334 | 21,541 | (35 | ) | 67,832 | |||||||||||||||
Investments in subsidiaries | 3,740,004 | 179,315 | 58,067 | (3,977,386 | ) | — | |||||||||||||||
Investments in unconsolidated entities | 13,987 | 14,765 | 49,608 | 13,333 | 91,693 | ||||||||||||||||
Deferred tax assets | — | — | 8,569 | — | 8,569 | ||||||||||||||||
Non-current income tax receivable | 2,468 | — | — | — | 2,468 | ||||||||||||||||
Intercompany notes receivables | 2,028,701 | 649,444 | 46,676 | (2,724,821 | ) | — | |||||||||||||||
Total assets | $ | 6,322,462 | $ | 5,318,120 | $ | 3,095,976 | $ | (8,057,602 | ) | $ | 6,678,956 | ||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Short-term debt and current portion of long-term debt | $ | 61,700 | $ | 2 | $ | 27,173 | $ | — | $ | 88,875 | |||||||||||
Current portion of capital lease obligations | — | 1,045 | 3,196 | — | 4,241 | ||||||||||||||||
Accounts payable | 21,402 | 81,741 | 110,449 | — | 213,592 | ||||||||||||||||
Accrued expenses and other current liabilities | (536,286 | ) | 663,221 | 248,604 | (45 | ) | 375,494 | ||||||||||||||
Liabilities related to assets held for sale | 1,094 | 77,749 | — | — | 78,843 | ||||||||||||||||
Intercompany payables | 902,576 | 198,788 | 248,237 | (1,349,601 | ) | — | |||||||||||||||
Total current liabilities | 450,486 | 1,022,546 | 637,659 | (1,349,646 | ) | 761,045 | |||||||||||||||
Long-term liabilities: | |||||||||||||||||||||
Long-term debt, net of current portion | 3,615,759 | — | 5,626 | — | 3,621,385 | ||||||||||||||||
Capital lease obligations, net of current portion | — | 4,097 | 6,463 | — | 10,560 | ||||||||||||||||
Deferred tax liabilities | (107,844 | ) | 252,944 | 69,457 | 82 | 214,639 | |||||||||||||||
Other long-term liabilities | 42,762 | 46,865 | 71,988 | (33 | ) | 161,582 | |||||||||||||||
Intercompany notes payables | 415,700 | 1,276,245 | 1,032,876 | (2,724,821 | ) | — | |||||||||||||||
Total long-term liabilities | 3,966,377 | 1,580,151 | 1,186,410 | (2,724,772 | ) | 4,008,166 | |||||||||||||||
Stockholders’ equity | 1,905,599 | 2,715,423 | 1,267,761 | (3,983,184 | ) | 1,905,599 | |||||||||||||||
Non-controlling interests | — | — | 4,146 | — | 4,146 | ||||||||||||||||
Total equity | 1,905,599 | 2,715,423 | 1,271,907 | (3,983,184 | ) | 1,909,745 | |||||||||||||||
Total liabilities and equity | $ | 6,322,462 | $ | 5,318,120 | $ | 3,095,976 | $ | (8,057,602 | ) | $ | 6,678,956 | ||||||||||
CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Cash Flows from Operating Activities: | |||||||||||||||||||||
Net income | $ | 209,228 | $ | 1,184 | $ | 71,017 | $ | (72,201 | ) | $ | 209,228 | ||||||||||
Income (loss) from discontinued operations, net of tax | 218,689 | (1,912 | ) | — | — | 216,777 | |||||||||||||||
Income (loss) from continuing operations | (9,461 | ) | 3,096 | 71,017 | (72,201 | ) | (7,549 | ) | |||||||||||||
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used in) operating activities: | |||||||||||||||||||||
Equity in earnings of subsidiaries, net of tax | (72,933 | ) | — | — | 72,933 | — | |||||||||||||||
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 3,917 | 7 | 22 | — | 3,946 | ||||||||||||||||
Depreciation and amortization | 1,650 | 42,097 | 30,608 | 13 | 74,368 | ||||||||||||||||
Non-cash stock-based compensation expense | 2,435 | 1,239 | 1,475 | — | 5,149 | ||||||||||||||||
Impairment of inventory | — | 133 | (55 | ) | — | 78 | |||||||||||||||
Impairment of long-lived assets | — | 28 | (97 | ) | — | (69 | ) | ||||||||||||||
Loss on disposition of fixed assets | — | 1,346 | 45 | — | 1,391 | ||||||||||||||||
Equity earnings of unconsolidated entities, net of tax | (424 | ) | — | (3,568 | ) | 33 | (3,959 | ) | |||||||||||||
Deferred income taxes | 9 | (21,021 | ) | 318 | 345 | (20,349 | ) | ||||||||||||||
Loss related to impairment and net (gain) on dispositions | 36,523 | 30,608 | (32,339 | ) | — | 34,792 | |||||||||||||||
Other non-cash items | 1,686 | (749 | ) | 4,987 | (1 | ) | 5,923 | ||||||||||||||
Changes in assets and liabilities, net of acquisitions: | |||||||||||||||||||||
Accounts receivable, net | — | 2,558 | (19,439 | ) | — | (16,881 | ) | ||||||||||||||
Inventories, net | — | (13,803 | ) | (16,052 | ) | (1,313 | ) | (31,168 | ) | ||||||||||||
Prepaid expenses and other current assets | (4,680 | ) | 13,671 | 15,179 | (5,190 | ) | 18,980 | ||||||||||||||
Accounts payable | (7,637 | ) | (470 | ) | (10,541 | ) | — | (18,648 | ) | ||||||||||||
Accrued expenses and other current liabilities | (1,531 | ) | 12,716 | (9,970 | ) | 5,612 | 6,827 | ||||||||||||||
Other non-current liabilities | (5,980 | ) | (197 | ) | (14,467 | ) | (473 | ) | (21,117 | ) | |||||||||||
Cash paid for contingent consideration | (3,641 | ) | — | (13 | ) | — | (3,654 | ) | |||||||||||||
Intercompany payable (receivable) | 49,312 | (57,097 | ) | 7,784 | 1 | — | |||||||||||||||
Net cash provided by (used in) continuing operations | (10,755 | ) | 14,162 | 24,894 | (241 | ) | 28,060 | ||||||||||||||
Net cash provided by discontinued operations | — | 318 | — | — | 318 | ||||||||||||||||
Net cash provided by (used in) operating activities | (10,755 | ) | 14,480 | 24,894 | (241 | ) | 28,378 | ||||||||||||||
Cash Flows from Investing Activities: | |||||||||||||||||||||
(Increase) decrease in restricted cash | 1,919 | — | (1,848 | ) | — | 71 | |||||||||||||||
Purchases of property, plant and equipment | (3,274 | ) | (10,154 | ) | (12,409 | ) | 190 | (25,647 | ) | ||||||||||||
Proceeds from sale of property, plant and equipment | — | — | 808 | — | 808 | ||||||||||||||||
Cash received from (used in) disposition, net of cash divested | 587,637 | (8,584 | ) | 2,132 | — | 581,185 | |||||||||||||||
Cash received from sales of marketable securities | — | 86 | — | — | 86 | ||||||||||||||||
Decrease in other assets | 348 | 362 | 152 | 51 | 913 | ||||||||||||||||
Net cash provided by (used in) continuing operations | 586,630 | (18,290 | ) | (11,165 | ) | 241 | 557,416 | ||||||||||||||
Net cash used in discontinued operations | — | (209 | ) | — | — | (209 | ) | ||||||||||||||
Net cash provided by (used in) investing activities | 586,630 | (18,499 | ) | (11,165 | ) | 241 | 557,207 | ||||||||||||||
Cash Flows from Financing Activities: | |||||||||||||||||||||
Cash paid for financing costs | (59 | ) | — | — | — | (59 | ) | ||||||||||||||
Cash paid for contingent purchase price consideration | (3,953 | ) | — | (743 | ) | — | (4,696 | ) | |||||||||||||
Proceeds from issuance of common stock, net of issuance costs | 34,632 | — | — | — | 34,632 | ||||||||||||||||
Proceeds from issuance of long-term debt | — | — | 15 | — | 15 | ||||||||||||||||
Payments on short-term debt | — | — | (321 | ) | — | (321 | ) | ||||||||||||||
Payments on long-term debt | (463,000 | ) | — | (11 | ) | — | (463,011 | ) | |||||||||||||
Net payments under revolving credit facilities | (127,000 | ) | — | (50 | ) | — | (127,050 | ) | |||||||||||||
Cash paid for dividends | (5,323 | ) | — | — | — | (5,323 | ) | ||||||||||||||
Excess tax benefits on exercised stock options | 506 | 32 | 111 | — | 649 | ||||||||||||||||
Principal payments on capital lease obligations | — | (627 | ) | (857 | ) | — | (1,484 | ) | |||||||||||||
Net cash used in continuing operations | (564,197 | ) | (595 | ) | (1,856 | ) | — | (566,648 | ) | ||||||||||||
Net cash used in discontinued operations | — | (76 | ) | — | — | (76 | ) | ||||||||||||||
Net cash used in financing activities | (564,197 | ) | (671 | ) | (1,856 | ) | — | (566,724 | ) | ||||||||||||
Foreign exchange effect on cash and cash equivalents | — | (207 | ) | (5,920 | ) | — | (6,127 | ) | |||||||||||||
Net increase (decrease) in cash and cash equivalents | 11,678 | (4,897 | ) | 5,953 | — | 12,734 | |||||||||||||||
Cash and cash equivalents, beginning of period – continuing operations | 2,149 | 69,154 | 307,158 | — | 378,461 | ||||||||||||||||
Cash and cash equivalents, beginning of period – discontinued operations | — | 23,300 | — | — | 23,300 | ||||||||||||||||
Cash and cash equivalents of continuing operations, end of period | $ | 13,827 | $ | 87,557 | $ | 313,111 | $ | — | $ | 414,495 | |||||||||||
CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Cash Flows from Operating Activities: | |||||||||||||||||||||
Net income (loss) | $ | (5,446 | ) | $ | 8,903 | $ | 23,664 | $ | (32,567 | ) | $ | (5,446 | ) | ||||||||
Income (loss) from discontinued operations, net of tax | 328 | (3,759 | ) | 835 | — | (2,596 | ) | ||||||||||||||
Income (loss) from continuing operations | (5,774 | ) | 12,662 | 22,829 | (32,567 | ) | (2,850 | ) | |||||||||||||
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | |||||||||||||||||||||
Tax benefit related to discontinued operations | — | 1,737 | (526 | ) | — | 1,211 | |||||||||||||||
Equity in earnings of subsidiaries, net of tax | (35,069 | ) | (68 | ) | — | 35,137 | — | ||||||||||||||
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 3,857 | 12 | 159 | — | 4,028 | ||||||||||||||||
Depreciation and amortization | 1,399 | 44,180 | 38,165 | 76 | 83,820 | ||||||||||||||||
Non-cash stock-based compensation expense | 2,407 | 1,093 | 2,204 | — | 5,704 | ||||||||||||||||
Impairment of inventory | — | — | 589 | — | 589 | ||||||||||||||||
Impairment of long-lived assets | — | — | 161 | — | 161 | ||||||||||||||||
Loss on disposition of fixed assets | — | 1,465 | 62 | — | 1,527 | ||||||||||||||||
Equity earnings of unconsolidated entities, net of tax | (405 | ) | — | (5,064 | ) | 117 | (5,352 | ) | |||||||||||||
Deferred income taxes | (19,028 | ) | 1,508 | (3,037 | ) | 1,458 | (19,099 | ) | |||||||||||||
Other non-cash items | — | 2,052 | (4,856 | ) | — | (2,804 | ) | ||||||||||||||
Changes in assets and liabilities, net of acquisitions: | |||||||||||||||||||||
Accounts receivable, net | — | (6,573 | ) | 31,719 | — | 25,146 | |||||||||||||||
Inventories, net | — | (8,536 | ) | (105 | ) | (4,064 | ) | (12,705 | ) | ||||||||||||
Prepaid expenses and other current assets | (26,287 | ) | 22,016 | 11,252 | (4,303 | ) | 2,678 | ||||||||||||||
Accounts payable | (4,305 | ) | 10,394 | (2,538 | ) | — | 3,551 | ||||||||||||||
Accrued expenses and other current liabilities | 22,109 | (6,440 | ) | (9,198 | ) | 355 | 6,826 | ||||||||||||||
Other non-current liabilities | 9,099 | 1,158 | (3,820 | ) | 3,954 | 10,391 | |||||||||||||||
Cash paid for contingent consideration | (3,417 | ) | — | (58 | ) | — | (3,475 | ) | |||||||||||||
Intercompany payable (receivable) | 67,749 | (70,945 | ) | 3,196 | — | — | |||||||||||||||
Net cash provided by continuing operations | 12,335 | 5,715 | 81,134 | 163 | 99,347 | ||||||||||||||||
Net cash provided by discontinued operations | — | 5,902 | 648 | — | 6,550 | ||||||||||||||||
Net cash provided by operating activities | 12,335 | 11,617 | 81,782 | 163 | 105,897 | ||||||||||||||||
Cash Flows from Investing Activities: | |||||||||||||||||||||
Decrease in restricted cash | 2,125 | — | 26 | — | 2,151 | ||||||||||||||||
Purchases of property, plant and equipment | (6,055 | ) | (10,500 | ) | (9,093 | ) | 817 | (24,831 | ) | ||||||||||||
Proceeds from sale of property, plant and equipment | 269 | 663 | 112 | (916 | ) | 128 | |||||||||||||||
Cash received from disposition, net of cash divested | — | — | 4,373 | — | 4,373 | ||||||||||||||||
Cash received from sales of marketable securities | — | 60 | — | — | 60 | ||||||||||||||||
Cash paid for equity method investments | (504 | ) | — | (3 | ) | — | (507 | ) | |||||||||||||
Increase in other assets | (311 | ) | (877 | ) | (482 | ) | 53 | (1,617 | ) | ||||||||||||
Net cash used in continuing operations | (4,476 | ) | (10,654 | ) | (5,067 | ) | (46 | ) | (20,243 | ) | |||||||||||
Net cash used in discontinued operations | — | (4,005 | ) | — | — | (4,005 | ) | ||||||||||||||
Net cash used in investing activities | (4,476 | ) | (14,659 | ) | (5,067 | ) | (46 | ) | (24,248 | ) | |||||||||||
Cash Flows from Financing Activities: | |||||||||||||||||||||
Cash paid for financing costs | (7 | ) | — | — | — | (7 | ) | ||||||||||||||
Cash paid for contingent purchase price consideration | (3,922 | ) | — | (123 | ) | — | (4,045 | ) | |||||||||||||
Proceeds from issuance of common stock, net of issuance costs | 14,698 | — | — | — | 14,698 | ||||||||||||||||
Payments on long-term debt | (15,000 | ) | (40 | ) | (522 | ) | — | (15,562 | ) | ||||||||||||
Net proceeds under revolving credit facilities | — | — | 233 | — | 233 | ||||||||||||||||
Cash paid for dividends | (5,323 | ) | — | — | — | (5,323 | ) | ||||||||||||||
Excess tax benefits on exercised stock options | 53 | 207 | 32 | — | 292 | ||||||||||||||||
Principal payments on capital lease obligations | — | (860 | ) | (760 | ) | — | (1,620 | ) | |||||||||||||
Net cash used in continuing operations | (9,501 | ) | (693 | ) | (1,140 | ) | — | (11,334 | ) | ||||||||||||
Net cash provided by (used in) discontinued operations | (150 | ) | 458 | — | — | 308 | |||||||||||||||
Net cash used in financing activities | (9,651 | ) | (235 | ) | (1,140 | ) | — | (11,026 | ) | ||||||||||||
Foreign exchange effect on cash and cash equivalents | 11 | (128 | ) | 729 | (117 | ) | 495 | ||||||||||||||
Net increase (decrease) in cash and cash equivalents | (1,781 | ) | (3,405 | ) | 76,304 | — | 71,118 | ||||||||||||||
Cash and cash equivalents, beginning of period—continuing operations | 14,801 | 78,976 | 261,654 | — | 355,431 | ||||||||||||||||
Cash and cash equivalents, beginning of period—discontinued operations | — | 6,476 | — | — | 6,476 | ||||||||||||||||
Cash and cash equivalents, end of period | 13,020 | 82,047 | 337,958 | — | 433,025 | ||||||||||||||||
Less: Cash and cash equivalents of discontinued operations, end of period | — | 7,959 | — | — | 7,959 | ||||||||||||||||
Cash and cash equivalents of continuing operations, end of period | $ | 13,020 | $ | 74,088 | $ | 337,958 | $ | — | $ | 425,066 | |||||||||||
Basis_of_Presentation_of_Finan1
Basis of Presentation of Financial Information (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation of Financial Information | The accompanying consolidated financial statements of Alere Inc. are unaudited. In the opinion of management, the unaudited consolidated financial statements contain all adjustments considered normal and recurring and necessary for their fair statement. Interim results are not necessarily indicative of results to be expected for the year. These interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these consolidated financial statements do not include all of the information and footnotes necessary for a complete presentation of financial position, results of operations, comprehensive income and cash flows. Our audited consolidated financial statements for the year ended December 31, 2014 included information and footnotes necessary for such presentation and were included in our Annual Report onForm 10-K/A filed with the Securities and Exchange Commission, or SEC, on May 28, 2015. These unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended December 31, 2014. |
Certain reclassifications of prior period amounts have been made in order to apply the presentation requirements to retrospectively present 2015 discontinued operations. These reclassifications of financial information related to discontinued operations have no effect on net income or equity. | |
As a result of the sale of our health management business in January 2015, which was the largest component of our patient self-testing reporting segment, we no longer report our financial information in four operating segments. Our current reportable operating segments are professional diagnostics, consumer diagnostics and corporate and other. Financial information by segment for the three months ended March 31, 2014 has been retroactively adjusted to reflect this change in reporting segments. | |
Certain amounts presented may not recalculate directly, due to rounding. | |
Cash and Cash Equivalents | Cash and Cash Equivalents |
We consider all highly-liquid cash investments with original maturities of three months or less at the date of acquisition to be cash equivalents. At March 31, 2015, our cash equivalents consisted of money market funds. |
Revision_of_Previously_Reporte1
Revision of Previously Reported Amounts (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Accounting Changes and Error Corrections [Abstract] | |||||||||||||
Revised Consolidated Statement of Operations | |||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||
Revised Consolidated Statement of Operations (in thousands) | As Previously Reported, | Adjustment | As Revised | ||||||||||
Giving Effect to the | |||||||||||||
Impact of Discontinued | |||||||||||||
Operations | |||||||||||||
Cost of net product sales | $ | 243,526 | $ | (545 | ) | $ | 242,981 | ||||||
Cost of service revenue | $ | 68,897 | $ | 1,464 | $ | 70,361 | |||||||
Cost of net product sales and services revenue | $ | 312,423 | $ | 919 | $ | 313,342 | |||||||
Cost of net revenue | $ | 313,962 | $ | 919 | $ | 314,881 | |||||||
Gross profit | $ | 311,277 | $ | (919 | ) | $ | 310,358 | ||||||
General and administrative | $ | 109,415 | $ | (5,796 | ) | $ | 103,619 | ||||||
Operating income | $ | 30,119 | $ | 4,877 | $ | 34,996 | |||||||
Other income (expense), net | $ | 5,282 | $ | 1,750 | $ | 7,032 | |||||||
Loss from continuing operations before benefit for income taxes | $ | (16,509 | ) | $ | 6,627 | $ | (9,882 | ) | |||||
Benefit for income taxes | $ | (5,158 | ) | $ | 3,478 | $ | (1,680 | ) | |||||
Loss from continuing operations before equity earnings of unconsolidated entities, net of tax | $ | (11,351 | ) | $ | 3,149 | $ | (8,202 | ) | |||||
Loss from continuing operations | $ | (5,999 | ) | $ | 3,149 | $ | (2,850 | ) | |||||
Net loss | $ | (8,595 | ) | $ | 3,149 | $ | (5,446 | ) | |||||
Net loss attributable to Alere Inc. and Subsidiaries | $ | (8,703 | ) | $ | 3,149 | $ | (5,554 | ) | |||||
Net loss available to common stockholders | $ | (13,953 | ) | $ | 3,149 | $ | (10,804 | ) | |||||
Basic and diluted loss per common share: Loss from continuing operations | $ | (0.14 | ) | $ | 0.04 | $ | (0.10 | ) | |||||
Basic and diluted net loss per common share: Net loss per common share | $ | (0.17 | ) | $ | 0.04 | $ | (0.13 | ) | |||||
Revised Consolidated Statement of Comprehensive Income (Loss) | Three Months Ended March 31, 2014 | ||||||||||||
Revised Consolidated Statement of Comprehensive Income (Loss) | As Previously Reported, | Adjustment | As Revised | ||||||||||
(in thousands) | Giving Effect to the | ||||||||||||
Impact of Discontinued | |||||||||||||
Operations | |||||||||||||
Net loss | $ | (8,595 | ) | $ | 3,149 | $ | (5,446 | ) | |||||
Comprehensive loss | $ | (19,870 | ) | $ | 3,149 | $ | (16,721 | ) | |||||
Comprehensive loss attributable to Alere Inc. and Subsidiaries | $ | (19,978 | ) | $ | 3,149 | $ | (16,829 | ) | |||||
Revised Consolidated Statement of Cash Flows | Three Months Ended March 31, 2014 | ||||||||||||
Revised Consolidated Statement of Cash Flows (in thousands) | As Previously Reported, | Adjustment | As Revised | ||||||||||
Giving Effect to the | |||||||||||||
Impact of Discontinued | |||||||||||||
Operations | |||||||||||||
Net loss | $ | (8,595 | ) | $ | 3,149 | $ | (5,446 | ) | |||||
Loss from continuing operations | $ | (5,999 | ) | $ | 3,149 | $ | (2,850 | ) | |||||
Deferred income taxes | $ | (21,729 | ) | $ | 2,630 | $ | (19,099 | ) | |||||
Prepaid expenses and other current assets | $ | 4,428 | $ | (1,750 | ) | $ | 2,678 | ||||||
Accrued expenses and other current liabilities | $ | 7,035 | $ | (209 | ) | $ | 6,826 | ||||||
Other non-current liabilities | $ | 14,221 | $ | (3,830 | ) | $ | 10,391 | ||||||
Net cash provided by continuing operations | $ | 99,358 | $ | (11 | ) | $ | 99,347 | ||||||
Net cash provided by operating activities | $ | 105,908 | $ | (11 | ) | $ | 105,897 | ||||||
Purchases of property, plant and equipment | $ | (24,842 | ) | $ | 11 | $ | (24,831 | ) | |||||
Net cash used in continuing operations | $ | (20,254 | ) | $ | 11 | $ | (20,243 | ) | |||||
Net cash used in investing activities | $ | (24,259 | ) | $ | 11 | $ | (24,248 | ) |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Discontinued Operations and Disposal Groups [Abstract] | |||||||||
Schedule of Assets and Liabilities Associated with Health Management Business Segregated and Classified as Assets Held for Sale and Liabilities | We accounted for our divestiture of the health management business in accordance with Accounting Standards Update, or ASU, No. 2014-08. The following assets and liabilities associated with the health management business have been segregated and classified as assets held for sale and liabilities related to assets held for sale, as appropriate, in the consolidated balance sheet as of December 31, 2014 (in thousands): | ||||||||
December 31, 2014 | |||||||||
Assets | |||||||||
Cash and cash equivalents | $ | 23,300 | |||||||
Restricted cash | 361 | ||||||||
Accounts receivable, net of allowances of $5,882 at December 31, 2014 | 50,902 | ||||||||
Inventories, net | 1,656 | ||||||||
Deferred tax assets – current | 6,939 | ||||||||
Prepaid expenses and other current assets | 3,857 | ||||||||
Property, plant and equipment, net | 57,595 | ||||||||
Goodwill | 82,665 | ||||||||
Finite-lived intangible assets, net | 82,428 | ||||||||
Deferred tax assets – non-current | 3,347 | ||||||||
Other non-current assets | 2,465 | ||||||||
Total assets held for sale | $ | 315,515 | |||||||
Liabilities | |||||||||
Current portion of capital lease obligations | $ | 799 | |||||||
Accounts payable | 5,654 | ||||||||
Accrued expenses and other current liabilities | 32,822 | ||||||||
Capital lease obligations, net of current portion | 365 | ||||||||
Deferred tax liabilities – non-current | 27,453 | ||||||||
Other long-term liabilities | 11,750 | ||||||||
Total liabilities related to assets held for sale | $ | 78,843 | |||||||
Summarized Financial Information Related to ACS Companies and Health Management Business | The following summarized financial information related to the businesses of the ACS Companies and the health management business, has been segregated from continuing operations and has been reported as discontinued operations in our consolidated statements of operations. The results of the health management business are included in both periods presented, given our January 9, 2015 divestiture of this business. The results of the ACS Companies are included in the three months ended March 31, 2014, given our October 31, 2014 divestiture of this business. The results are as follows (in thousands): | ||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Net revenue | $ | 7,373 | $ | 91,383 | |||||
Cost of net revenue | (4,413 | ) | (51,420 | ) | |||||
Sales and marketing | (996 | ) | (14,020 | ) | |||||
General and administrative | (5,001 | ) | (30,120 | ) | |||||
Interest expense | (9 | ) | (136 | ) | |||||
Other income (expense), net | 160 | (559 | ) | ||||||
Gain on disposal | 366,191 | — | |||||||
Income (loss) from discontinued operations before provision (benefit) for income taxes | 363,305 | (4,872 | ) | ||||||
Provision (benefit) for income taxes | 146,528 | (2,276 | ) | ||||||
Income (loss) from discontinued operations, net of tax | $ | 216,777 | $ | (2,596 | ) | ||||
Inventories_Tables
Inventories (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Inventory Disclosure [Abstract] | |||||||||
Inventories are Stated at Lower of Cost (First In, First Out) or Market | Inventories are stated at the lower of cost (first in, first out) or market and are comprised of the following (in thousands): | ||||||||
March 31, 2015 | December 31, 2014 | ||||||||
Raw materials | $ | 128,731 | $ | 122,886 | |||||
Work-in-process | 73,397 | 82,724 | |||||||
Finished goods | 172,845 | 159,555 | |||||||
$ | 374,973 | $ | 365,165 | ||||||
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
Stock-based Compensation Expense | We recorded stock-based compensation expense in our consolidated statements of operations for the three months ended March 31, 2015 and 2014, respectively, as follows (in thousands): | ||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Cost of net revenue | $ | 253 | $ | 287 | |||||
Research and development | 324 | 1,191 | |||||||
Sales and marketing | 1,094 | 891 | |||||||
General and administrative | 3,478 | 3,335 | |||||||
5,149 | 5,704 | ||||||||
Benefit for income taxes | (2,373 | ) | (1,778 | ) | |||||
Stock-based compensation, net of tax | $ | 2,776 | $ | 3,926 | |||||
Net_Income_Loss_per_Common_Sha1
Net Income (Loss) per Common Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Computation of Basic and Diluted Net Income (Loss) Per Common Share | The following table sets forth the computation of basic and diluted net income (loss) per common share for the three months ended March 31, 2015 and 2014 (in thousands, except per share amounts): | ||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Basic and diluted net income (loss) per common share: | |||||||||
Numerator: | |||||||||
Loss from continuing operations | $ | (7,549 | ) | $ | (2,850 | ) | |||
Preferred stock dividends | (5,250 | ) | (5,250 | ) | |||||
Loss from continuing operations attributable to common shares | (12,799 | ) | (8,100 | ) | |||||
Less: Net income attributable to non-controlling interest | 88 | 108 | |||||||
Loss from continuing operations attributable to Alere Inc. and Subsidiaries | (12,887 | ) | (8,208 | ) | |||||
Income (loss) from discontinued operations | 216,777 | (2,596 | ) | ||||||
Net income (loss) available to common stockholders | $ | 203,890 | $ | (10,804 | ) | ||||
Denominator: | |||||||||
Weighted-average common shares outstanding – basic and diluted | 84,338 | 82,387 | |||||||
Basic and diluted net income (loss) per common share: | |||||||||
Loss from continuing operations attributable to Alere Inc. and Subsidiaries | $ | (0.15 | ) | $ | (0.10 | ) | |||
Income (loss) from discontinued operations | 2.57 | (0.03 | ) | ||||||
Basic and diluted net income (loss) per common share | $ | 2.42 | $ | (0.13 | ) | ||||
Potential Dilutive Securities Not Included in Calculation of Diluted Net Income (Loss) Per Common Share | The following potential dilutive securities were not included in the calculation of diluted net income (loss) per common share because the inclusion thereof would be antidilutive (in thousands): | ||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Denominator: | |||||||||
Options to purchase shares of common stock | 7,882 | 11,143 | |||||||
Warrants | 4 | 4 | |||||||
Conversion shares related to 3% convertible senior subordinated notes | 3,411 | 3,411 | |||||||
Conversion shares related to subordinated convertible promissory notes | 27 | 27 | |||||||
Conversion shares related to Series B convertible preferred stock | 10,239 | 10,239 | |||||||
Common stock equivalents related to the settlement of a contingent consideration obligation | — | 358 | |||||||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 21,563 | 25,182 | |||||||
Stockholders_Equity_and_Noncon1
Stockholders' Equity and Non-controlling Interests (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||
Summary of Changes in Stockholders' Equity and Non-Controlling Interests Comprising Total Equity | A summary of the changes in stockholders’ equity and non-controlling interests comprising total equity for the three months ended March 31, 2015 and 2014 is provided below (in thousands): | ||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Total | Non- | Total | Total | Non- | Total | ||||||||||||||||||||
Stockholders’ | controlling | Equity | Stockholders’ | controlling | Equity | ||||||||||||||||||||
Equity | Interests | Equity | Interests | ||||||||||||||||||||||
Equity, beginning of period | $ | 1,905,599 | $ | 4,146 | $ | 1,909,745 | $ | 2,073,256 | $ | 4,882 | $ | 2,078,138 | |||||||||||||
Issuance of common stock under employee compensation plans | 34,632 | — | 34,632 | 14,698 | — | 14,698 | |||||||||||||||||||
Preferred stock dividends | (5,323 | ) | — | (5,323 | ) | (5,323 | ) | — | (5,323 | ) | |||||||||||||||
Stock-based compensation expense | 5,149 | — | 5,149 | 5,704 | — | 5,704 | |||||||||||||||||||
Excess tax benefits on exercised stock options | (126 | ) | — | (126 | ) | 17 | — | 17 | |||||||||||||||||
Net income (loss) | 209,140 | 88 | 209,228 | (5,554 | ) | 108 | (5,446 | ) | |||||||||||||||||
Total other comprehensive loss | (81,724 | ) | — | (81,724 | ) | (11,275 | ) | — | (11,275 | ) | |||||||||||||||
Equity, end of period | $ | 2,067,347 | $ | 4,234 | $ | 2,071,581 | $ | 2,071,523 | $ | 4,990 | $ | 2,076,513 | |||||||||||||
Restructuring_Tables
Restructuring (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||
Aggregate Charges Associated with Restructuring Plans Recorded in Operating Income | The following table sets forth aggregate restructuring charges recorded in our consolidated statements of operations for the three months ended March 31, 2015 and 2014 (in thousands): | ||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
Statement of Operations Caption | 2015 | 2014 | |||||||||||||||
Cost of net revenue | $ | 1,502 | $ | 833 | |||||||||||||
Research and development | 493 | — | |||||||||||||||
Sales and marketing | 1,383 | 1,550 | |||||||||||||||
General and administrative | 892 | 2,015 | |||||||||||||||
Total operating expenses | 4,270 | 4,398 | |||||||||||||||
Interest expense, including amortization of original issue discounts and deferred financing costs | 7 | 12 | |||||||||||||||
Total charges | $ | 4,277 | $ | 4,410 | |||||||||||||
Restructuring Activities Related to Restructuring Plans | The following table summarizes the restructuring activities related to our 2014 restructuring plans for the three months ended March 31, 2015 and 2014 and since inception of these restructuring plans (in thousands): | ||||||||||||||||
Three Months Ended March 31, | Since | ||||||||||||||||
Professional Diagnostics | 2015 | 2014 | Inception | ||||||||||||||
Severance-related costs | $ | 2,800 | $ | 2,364 | $ | 30,606 | |||||||||||
Facility and transition costs | 1,426 | 34 | 4,886 | ||||||||||||||
Cash charges | 4,226 | 2,398 | 35,492 | ||||||||||||||
Fixed asset and inventory impairments | 9 | 750 | 10,961 | ||||||||||||||
Total charges | $ | 4,235 | $ | 3,148 | $ | 46,453 | |||||||||||
Three Months Ended March 31, | Since | ||||||||||||||||
Corporate and Other | 2015 | 2014 | Inception | ||||||||||||||
Severance-related costs | $ | 42 | $ | 87 | $ | 2,943 | |||||||||||
Facility and transition costs | (7 | ) | 8 | 11,328 | |||||||||||||
Total cash charges | $ | 35 | $ | 95 | $ | 14,271 | |||||||||||
The following table summarizes the restructuring activities within our professional diagnostics business segment related to our active 2013, 2011 and 2008 restructuring plans for the three months ended March 31, 2015 and 2014 and since inception of these plans (in thousands): | |||||||||||||||||
Three Months Ended March 31, | Since | ||||||||||||||||
Professional Diagnostics | 2015 | 2014 | Inception | ||||||||||||||
Severance-related costs | $ | — | $ | 897 | $ | 26,926 | |||||||||||
Facility and transition costs | — | 258 | 10,480 | ||||||||||||||
Other exit costs | 7 | 12 | 805 | ||||||||||||||
Cash charges | 7 | 1,167 | 38,211 | ||||||||||||||
Fixed asset and inventory impairments | — | — | 6,776 | ||||||||||||||
Intangible asset impairments | — | — | 686 | ||||||||||||||
Other non-cash charges | — | — | 64 | ||||||||||||||
Total charges | $ | 7 | $ | 1,167 | $ | 45,737 | |||||||||||
Cash Activity for Restructuring Reserves | The following table summarizes our restructuring reserves related to the plans described above, of which $3.6 million is included in accrued expenses and other current liabilities and $0.4 million is included in other long-term liabilities on our accompanying consolidated balance sheets (in thousands): | ||||||||||||||||
Severance- | Facility and | Other Exit | Total | ||||||||||||||
related | Transition | Costs | |||||||||||||||
Costs | Costs | ||||||||||||||||
Balance, December 31, 2014 | $ | 4,590 | $ | 9,868 | $ | 290 | $ | 14,748 | |||||||||
Cash charges | 2,842 | 1,419 | 7 | 4,268 | |||||||||||||
Payments | (5,330 | ) | (9,230 | ) | (31 | ) | (14,591 | ) | |||||||||
Currency adjustments | (276 | ) | (145 | ) | — | (421 | ) | ||||||||||
Balance, March 31, 2015 | $ | 1,826 | $ | 1,912 | $ | 266 | $ | 4,004 | |||||||||
Longterm_Debt_Tables
Long-term Debt (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Long-Term Debt Balances Outstanding | We had the following long-term debt balances outstanding (in thousands): | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
A term loans(1) (2) (4) | $ | 608,123 | $ | 785,938 | |||||
B term loans(1) (3) (4) | 1,045,705 | 1,330,810 | |||||||
Revolving line of credit(1) (4) | — | 127,000 | |||||||
7.25% Senior notes | 450,000 | 450,000 | |||||||
6.5% Senior subordinated notes | 425,000 | 425,000 | |||||||
8.625% Senior subordinated notes | 400,000 | 400,000 | |||||||
3% Convertible senior subordinated notes | 150,000 | 150,000 | |||||||
Other lines of credit | 603 | 684 | |||||||
Other | 39,715 | 40,828 | |||||||
3,119,146 | 3,710,260 | ||||||||
Less: Short-term debt and current portion | (95,299 | ) | (88,875 | ) | |||||
$ | 3,023,847 | $ | 3,621,385 | ||||||
(1) | Incurred under our secured credit facility. | ||||||||
(2) | Includes “A” term loans and “Delayed Draw” term loans under our secured credit facility. | ||||||||
(3) | Includes term loans previously referred to as “Incremental B-1” term loans and “Incremental B-2” term loans under our secured credit facility, which term loans have been converted into and consolidated with the “B” term loans under our secured credit facility. | ||||||||
(4) | On May 15, 2015, we incurred an event of default under our secured credit facility when we failed to timely deliver these financial statements to our lenders. The default, which has since been cured, was not in existence on March 31, 2015. | ||||||||
Long-Term Debt Interest Expense | In connection with our significant long-term debt issuances, we recorded interest expense, including amortization and write-offs of deferred financing costs and original issue discounts, in our accompanying consolidated statements of operations for the three months ended March 31, 2015 and 2014 as follows (in thousands): | ||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Secured credit facility (1) | $ | 19,462 | $ | 24,762 | |||||
7.25% Senior notes | 8,524 | 8,525 | |||||||
6.5% Senior subordinated notes | 7,233 | 7,178 | |||||||
8.625% Senior subordinated notes | 9,273 | 9,273 | |||||||
3% Convertible senior subordinated notes | 1,246 | 1,246 | |||||||
$ | 45,738 | $ | 50,984 | ||||||
(1) | Includes “A” term loans, including the “Delayed-Draw” term loans; “B” term loans, including the term loans previously referred to as “Incremental B-1” term loans and “Incremental B-2” term loans, which term loans have been converted into and consolidated with the “B” term loans; and revolving line of credit loans. For the three months ended March 31, 2015 and 2014, the amounts include $0.4 million and $0.4 million, respectively, related to the amortization of fees paid for certain debt modifications. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Assets and Liabilities Measured on Recurring Basis, Valuation Techniques | The following tables present information about our assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques we utilized to determine such fair value (in thousands): | ||||||||||||||||
Description | March 31, | Quoted Prices in | Significant Other | Unobservable Inputs | |||||||||||||
2015 | Active Markets | Observable Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
Assets: | |||||||||||||||||
Marketable securities | $ | 173 | $ | 173 | $ | — | $ | — | |||||||||
Total assets | $ | 173 | $ | 173 | $ | — | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration obligations (1) | $ | 114,297 | $ | — | $ | — | $ | 114,297 | |||||||||
Total liabilities | $ | 114,297 | $ | — | $ | — | $ | 114,297 | |||||||||
Description | December 31, | Quoted Prices in | Significant Other | Unobservable Inputs | |||||||||||||
2014 | Active Markets | Observable Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
Assets: | |||||||||||||||||
Marketable securities | $ | 259 | $ | 259 | $ | — | $ | — | |||||||||
Total assets | $ | 259 | $ | 259 | $ | — | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration obligations (1) | $ | 139,671 | $ | — | $ | — | $ | 139,671 | |||||||||
Total liabilities | $ | 139,671 | $ | — | $ | — | $ | 139,671 | |||||||||
(1) | We determine the fair value of the contingent consideration obligations based on a probability-weighted approach derived from earn-out criteria estimates and a probability assessment with respect to the likelihood of achieving the various earn-out criteria. The measurement is based upon significant inputs not observable in the market. Significant increases or decreases in any of these inputs could result in a significantly higher or lower fair value measurement. Changes in the fair value of these contingent consideration obligations are recorded as income or expense within operating income in our consolidated statements of operations. See Note 16 for additional information on the valuation of our contingent consideration obligations. | ||||||||||||||||
Changes in Fair Value of Contingent Consideration Obligations | Changes in the fair value of our Level 3 contingent consideration obligations during the three months ended March 31, 2015 were as follows (in thousands): | ||||||||||||||||
Fair value of contingent consideration obligations, December 31, 2014 | $ | 139,671 | |||||||||||||||
Payments | (9,798 | ) | |||||||||||||||
Present value accretion and adjustments | (14,035 | ) | |||||||||||||||
Reclassification to other liability account | (1,550 | ) | |||||||||||||||
Foreign currency adjustments | 9 | ||||||||||||||||
Fair value of contingent consideration obligations, March 31, 2015 | $ | 114,297 | |||||||||||||||
Defined_Benefit_Pension_Plan_T
Defined Benefit Pension Plan (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||
Net Periodic Benefit Costs | The net periodic benefit costs are as follows (in thousands): | ||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Service cost | $ | — | $ | — | |||||
Interest cost | 229 | 199 | |||||||
Expected return on plan assets | (235 | ) | (188 | ) | |||||
Amortization of prior service cost | 336 | 110 | |||||||
Net periodic benefit cost | $ | 330 | $ | 121 | |||||
Financial_Information_by_Segme1
Financial Information by Segment (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Performance of Our Operating Segments Based on Revenue and Operating Income (Loss) | Segment information for the three months ended March 31, 2015 and 2014 is as follows (in thousands): | ||||||||||||||||
Professional | Consumer | Corporate | Total | ||||||||||||||
Diagnostics | Diagnostics | and | |||||||||||||||
Other | |||||||||||||||||
Three Months Ended March 31, 2015: | |||||||||||||||||
Net revenue | $ | 586,185 | $ | 21,968 | $ | — | $ | 608,153 | |||||||||
Operating income (loss) | $ | 49,790 | $ | 2,204 | $ | (24,587 | ) | $ | 27,407 | ||||||||
Impairment and (gain) loss on dispositions, net | $ | 34,792 | $ | — | $ | — | $ | 34,792 | |||||||||
Depreciation and amortization | $ | 72,423 | $ | 711 | $ | 1,234 | $ | 74,368 | |||||||||
Restructuring charges | $ | 4,235 | $ | — | $ | 35 | $ | 4,270 | |||||||||
Stock-based compensation | $ | — | $ | — | $ | 5,149 | $ | 5,149 | |||||||||
Three Months Ended March 31, 2014: | |||||||||||||||||
Net revenue | $ | 602,937 | $ | 22,302 | $ | — | $ | 625,239 | |||||||||
Operating income (loss) | $ | 55,478 | $ | 699 | $ | (21,181 | ) | $ | 34,996 | ||||||||
Depreciation and amortization | $ | 82,406 | $ | 780 | $ | 634 | $ | 83,820 | |||||||||
Restructuring charges | $ | 4,303 | $ | — | $ | 95 | $ | 4,398 | |||||||||
Stock-based compensation | $ | — | $ | — | $ | 5,704 | $ | 5,704 | |||||||||
Assets: | |||||||||||||||||
As of March 31, 2015 | $ | 5,842,150 | $ | 225,696 | $ | 80,525 | $ | 6,148,371 | |||||||||
As of December 31, 2014 | $ | 6,323,944 | $ | 216,451 | $ | 138,561 | $ | 6,678,956 | |||||||||
Summary of Company's Net Revenue from Professional Diagnostics and Consumer Diagnostics Reporting Segments by Groups of Similar Products and Services | The following tables summarize our net revenue from the professional diagnostics reporting segment by groups of similar products and services for the three months ended March 31, 2015 and 2014 (in thousands): | ||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Cardiometabolic | $ | 202,843 | $ | 213,963 | |||||||||||||
Infectious disease | 178,756 | 167,613 | |||||||||||||||
Toxicology | 148,756 | 155,533 | |||||||||||||||
Other | 51,132 | 60,616 | |||||||||||||||
Total professional diagnostics net product sales and services revenue | 581,487 | 597,725 | |||||||||||||||
License and royalty revenue | 4,698 | 5,212 | |||||||||||||||
Total professional diagnostics net revenue | $ | 586,185 | $ | 602,937 | |||||||||||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Related Party Balances with SPD within Consolidated Balance Sheets | The following table summarizes our related party balances with SPD within our consolidated balance sheets (in thousands): | ||||||||
Balance Sheet Caption | March 31, 2015 | December 31, 2014 | |||||||
Accounts receivable, net of allowances | $ | 6,139 | $ | 10,465 | |||||
Prepaid expenses and other current assets | $ | 7,659 | $ | 9,635 | |||||
Deferred financing costs, net, and other non-current assets | $ | 10,385 | $ | 10,875 | |||||
Accounts payable | $ | 34,671 | $ | 34,816 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||
Contractual Contingent Purchase Price Consideration Obligations Related to Certain Acquisitions | The following table summarizes our contractual contingent purchase price consideration obligations related to certain of our acquisitions, as follows (in thousands): | ||||||||||||||||||||||||||||
Acquisition | Acquisition Date | Acquisition | Maximum | Remaining | Estimated | Estimated | Payments | ||||||||||||||||||||||
Date Fair | Remaining | Earn-out | Fair Value as | Fair Value as | Made | ||||||||||||||||||||||||
Value | Earn-out | Period as | of | of | During | ||||||||||||||||||||||||
Potential | of | March 31, | December 31, | 2015 | |||||||||||||||||||||||||
as of | March 31, | 2015 | 2014 | ||||||||||||||||||||||||||
March 31, | 2015 | ||||||||||||||||||||||||||||
2015 | |||||||||||||||||||||||||||||
TwistDx, Inc.(1) | March 11, 2010 | $ | 35,600 | $ | 103,552 | 2015 – 2025 | -5 | $ | 36,200 | $ | 41,100 | $ | 5,072 | ||||||||||||||||
Ionian Technologies, Inc. (2) | 12-Jul-10 | $ | 24,500 | $ | 50,000 | 2015 | 25,200 | 24,500 | — | ||||||||||||||||||||
DiagnosisOne, Inc. (3) | 31-Jul-12 | $ | 22,300 | $ | — | — | — | 21,000 | 4,450 | ||||||||||||||||||||
Epocal(4) | February 1, 2013 | $ | 75,000 | $ | 65,500 | 2015 – 2018 | 47,500 | 47,200 | — | ||||||||||||||||||||
Other | Various | $ | 43,854 | $ | — | (6) | 2015 – 2016 | 5,397 | 5,871 | 276 | |||||||||||||||||||
$ | 114,297 | $ | 139,671 | $ | 9,798 | ||||||||||||||||||||||||
(1) | The terms of the acquisition agreement require us to pay an earn-out upon successfully meeting certain revenue and product development targets through 2025. | ||||||||||||||||||||||||||||
(2) | The terms of the acquisition agreement require us to pay earn-outs upon successfully meeting multiple product development milestones during the five years following the acquisition. | ||||||||||||||||||||||||||||
(3) | On March 25, 2015, the remaining earn-out was settled for $6.0 million, of which $4.5 million was paid on March 27, 2015. The outstanding balance of $1.5 million is accrued as of March 31, 2015 and is reflected in other current liabilities on our accompanying consolidated balance sheet as of that date. The remaining $15 million was reversed and recorded as a credit to general and administrative expenses. | ||||||||||||||||||||||||||||
(4) | The terms of the acquisition agreement require us to pay earn-outs and management incentive payments upon successfully meeting certain product development and United States Food and Drug Administration regulatory approval milestones from the date of acquisition through December 31, 2018. | ||||||||||||||||||||||||||||
(5) | The maximum earn-out period ends on the fifteenth anniversary of the acquisition date. | ||||||||||||||||||||||||||||
(6) | The maximum remaining earn-out potential for the other acquisitions is not determinable due to the nature of one of the earn-outs, which is tied to an unlimited revenue metric. |
Equity_Investments_Tables
Equity Investments (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Financial Information Combined Condensed Results of Operations | CONSOLIDATING STATEMENT OF OPERATIONS | ||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Net product sales | $ | — | $ | 217,208 | $ | 323,197 | $ | (60,806 | ) | $ | 479,599 | ||||||||||
Services revenue | — | 108,057 | 15,799 | — | 123,856 | ||||||||||||||||
Net product sales and services revenue | — | 325,265 | 338,996 | (60,806 | ) | 603,455 | |||||||||||||||
License and royalty revenue | — | 3,197 | 4,363 | (2,862 | ) | 4,698 | |||||||||||||||
Net revenue | — | 328,462 | 343,359 | (63,668 | ) | 608,153 | |||||||||||||||
Cost of net product sales | 416 | 113,191 | 180,046 | (55,016 | ) | 238,637 | |||||||||||||||
Cost of services revenue | 50 | 74,037 | 8,395 | (6,901 | ) | 75,581 | |||||||||||||||
Cost of net product sales and services revenue | 466 | 187,228 | 188,441 | (61,917 | ) | 314,218 | |||||||||||||||
Cost of license and royalty revenue | (40 | ) | 808 | 4,044 | (2,862 | ) | 1,950 | ||||||||||||||
Cost of net revenue | 426 | 188,036 | 192,485 | (64,779 | ) | 316,168 | |||||||||||||||
Gross profit (loss) | (426 | ) | 140,426 | 150,874 | 1,111 | 291,985 | |||||||||||||||
Operating expenses: | |||||||||||||||||||||
Research and development | 2,302 | 14,919 | 10,795 | — | 28,016 | ||||||||||||||||
Sales and marketing | 1,260 | 53,227 | 54,592 | — | 109,079 | ||||||||||||||||
General and administrative | 20,523 | 37,770 | 34,398 | — | 92,691 | ||||||||||||||||
Impairment and (gain) loss on dispositions, net | 36,523 | 30,608 | (32,339 | ) | — | 34,792 | |||||||||||||||
Operating income (loss) | (61,034 | ) | 3,902 | 83,428 | 1,111 | 27,407 | |||||||||||||||
Interest expense, including amortization of original issue discounts and deferred financing costs | (46,098 | ) | (3,285 | ) | (4,043 | ) | 6,995 | (46,431 | ) | ||||||||||||
Other income (expense), net | 3,647 | 4,299 | (2,221 | ) | (6,995 | ) | (1,270 | ) | |||||||||||||
Income (loss) from continuing operations before provision (benefit) for income taxes | (103,485 | ) | 4,916 | 77,164 | 1,111 | (20,294 | ) | ||||||||||||||
Provision (benefit) for income taxes | (20,667 | ) | 1,820 | 9,715 | 346 | (8,786 | ) | ||||||||||||||
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | (82,818 | ) | 3,096 | 67,449 | 765 | (11,508 | ) | ||||||||||||||
Equity in earnings of subsidiaries, net of tax | 72,933 | — | — | (72,933 | ) | — | |||||||||||||||
Equity earnings of unconsolidated entities, net of tax | 424 | — | 3,568 | (33 | ) | 3,959 | |||||||||||||||
Income (loss) from continuing operations | (9,461 | ) | 3,096 | 71,017 | (72,201 | ) | (7,549 | ) | |||||||||||||
Income (loss) from discontinued operations, net of tax | 218,689 | (1,912 | ) | — | — | 216,777 | |||||||||||||||
Net income | 209,228 | 1,184 | 71,017 | (72,201 | ) | 209,228 | |||||||||||||||
Less: Net income attributable to non-controlling interests | — | — | 88 | — | 88 | ||||||||||||||||
Net income attributable to Alere Inc. and Subsidiaries | 209,228 | 1,184 | 70,929 | (72,201 | ) | 209,140 | |||||||||||||||
Preferred stock dividends | (5,250 | ) | — | — | — | (5,250 | ) | ||||||||||||||
Net income available to common stockholders | $ | 203,978 | $ | 1,184 | $ | 70,929 | $ | (72,201 | ) | $ | 203,890 | ||||||||||
CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Net product sales | $ | — | $ | 209,284 | $ | 335,738 | $ | (53,703 | ) | $ | 491,319 | ||||||||||
Services revenue | — | 110,651 | 18,057 | — | 128,708 | ||||||||||||||||
Net product sales and services revenue | — | 319,935 | 353,795 | (53,703 | ) | 620,027 | |||||||||||||||
License and royalty revenue | — | 3,484 | 5,019 | (3,291 | ) | 5,212 | |||||||||||||||
Net revenue | — | 323,419 | 358,814 | (56,994 | ) | 625,239 | |||||||||||||||
Cost of net product sales | 688 | 111,018 | 183,760 | (52,485 | ) | 242,981 | |||||||||||||||
Cost of services revenue | 73 | 67,708 | 8,001 | (5,421 | ) | 70,361 | |||||||||||||||
Cost of net product sales and services revenue | 761 | 178,726 | 191,761 | (57,906 | ) | 313,342 | |||||||||||||||
Cost of license and royalty revenue | — | 92 | 4,738 | (3,291 | ) | 1,539 | |||||||||||||||
Cost of net revenue | 761 | 178,818 | 196,499 | (61,197 | ) | 314,881 | |||||||||||||||
Gross profit (loss) | (761 | ) | 144,601 | 162,315 | 4,203 | 310,358 | |||||||||||||||
Operating expenses: | |||||||||||||||||||||
Research and development | 5,615 | 14,845 | 18,239 | — | 38,699 | ||||||||||||||||
Sales and marketing | 1,868 | 60,939 | 70,237 | — | 133,044 | ||||||||||||||||
General and administrative | 18,756 | 36,069 | 48,794 | — | 103,619 | ||||||||||||||||
Operating income (loss) | (27,000 | ) | 32,748 | 25,045 | 4,203 | 34,996 | |||||||||||||||
Interest expense, including amortization of original issue discounts and deferred financing costs | (51,258 | ) | (5,494 | ) | (4,544 | ) | 9,386 | (51,910 | ) | ||||||||||||
Other income (expense), net | 4,694 | 5,959 | 5,823 | (9,444 | ) | 7,032 | |||||||||||||||
Income (loss) before provision (benefit) for income taxes | (73,564 | ) | 33,213 | 26,324 | 4,145 | (9,882 | ) | ||||||||||||||
Provision (benefit) for income taxes | (32,316 | ) | 20,619 | 8,559 | 1,458 | (1,680 | ) | ||||||||||||||
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | (41,248 | ) | 12,594 | 17,765 | 2,687 | (8,202 | ) | ||||||||||||||
Equity in earnings of subsidiaries, net of tax | 35,069 | 68 | — | (35,137 | ) | — | |||||||||||||||
Equity earnings of unconsolidated entities, net of tax | 405 | — | 5,064 | (117 | ) | 5,352 | |||||||||||||||
Income (loss) on continuing operations | (5,774 | ) | 12,662 | 22,829 | (32,567 | ) | (2,850 | ) | |||||||||||||
Income (loss) from discontinued operations, net of tax | 328 | (3,759 | ) | 835 | — | (2,596 | ) | ||||||||||||||
Net income (loss) | (5,446 | ) | 8,903 | 23,664 | (32,567 | ) | (5,446 | ) | |||||||||||||
Less: Net income attributable to non-controlling interests | — | — | 108 | — | 108 | ||||||||||||||||
Net income (loss) attributable to Alere Inc. and Subsidiaries | (5,446 | ) | 8,903 | 23,556 | (32,567 | ) | (5,554 | ) | |||||||||||||
Preferred stock dividends | (5,250 | ) | — | — | — | (5,250 | ) | ||||||||||||||
Net income (loss) available to common stockholders | $ | (10,696 | ) | $ | 8,903 | $ | 23,556 | $ | (32,567 | ) | $ | (10,804 | ) | ||||||||
Financial Information Combined Condensed Balance Sheet | CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 13,827 | $ | 87,557 | $ | 313,111 | $ | — | $ | 414,495 | |||||||||||
Restricted cash | 3,094 | — | 34,312 | — | 37,406 | ||||||||||||||||
Marketable securities | — | 173 | — | — | 173 | ||||||||||||||||
Accounts receivable, net of allowances | — | 190,217 | 281,446 | — | 471,663 | ||||||||||||||||
Inventories, net | — | 194,768 | 200,614 | (20,409 | ) | 374,973 | |||||||||||||||
Deferred tax assets | (37,763 | ) | 29,263 | 31,114 | — | 22,614 | |||||||||||||||
Prepaid expenses and other current assets | 24,096 | 18,365 | 70,838 | 4,625 | 117,924 | ||||||||||||||||
Assets held for sale | — | — | — | — | — | ||||||||||||||||
Intercompany receivables | 614,397 | 629,354 | 44,793 | (1,288,544 | ) | — | |||||||||||||||
Total current assets | 617,651 | 1,149,697 | 976,228 | (1,304,328 | ) | 1,439,248 | |||||||||||||||
Property, plant and equipment, net | 27,988 | 222,584 | 196,114 | 19 | 446,705 | ||||||||||||||||
Goodwill | — | 1,790,956 | 1,089,208 | — | 2,880,164 | ||||||||||||||||
Other intangible assets with indefinite lives | — | 8,139 | 32,123 | (59 | ) | 40,203 | |||||||||||||||
Finite-lived intangible assets, net | 5,649 | 688,605 | 479,612 | — | 1,173,866 | ||||||||||||||||
Deferred financing costs, net and other non-current assets | 36,867 | 4,870 | 19,825 | (85 | ) | 61,477 | |||||||||||||||
Investments in subsidiaries | 3,235,062 | 179,176 | 58,132 | (3,472,370 | ) | — | |||||||||||||||
Investments in unconsolidated entities | 14,677 | 14,765 | 52,853 | 13,256 | 95,551 | ||||||||||||||||
Deferred tax assets | — | — | 8,612 | — | 8,612 | ||||||||||||||||
Non-current income tax receivable | 2,545 | — | — | — | 2,545 | ||||||||||||||||
Intercompany notes receivables | 2,040,842 | 713,417 | 46,976 | (2,801,235 | ) | — | |||||||||||||||
Total assets | $ | 5,981,281 | $ | 4,772,209 | $ | 2,959,683 | $ | (7,564,802 | ) | $ | 6,148,371 | ||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Short-term debt and current portion of long-term debt | $ | 68,711 | $ | — | $ | 26,588 | $ | — | $ | 95,299 | |||||||||||
Current portion of capital lease obligations | — | 2,185 | 2,887 | — | 5,072 | ||||||||||||||||
Accounts payable | 13,811 | 81,095 | 101,074 | — | 195,980 | ||||||||||||||||
Accrued expenses and other current liabilities | (481,993 | ) | 615,859 | 228,532 | 2,494 | 364,892 | |||||||||||||||
Intercompany payables | 794,586 | 255,402 | 238,558 | (1,288,546 | ) | — | |||||||||||||||
Total current liabilities | 395,115 | 954,541 | 597,639 | (1,286,052 | ) | 661,243 | |||||||||||||||
Long-term liabilities: | |||||||||||||||||||||
Long-term debt, net of current portion | 3,018,829 | — | 5,018 | — | 3,023,847 | ||||||||||||||||
Capital lease obligations, net of current portion | — | 2,330 | 5,417 | — | 7,747 | ||||||||||||||||
Deferred tax liabilities | (37,773 | ) | 217,479 | 66,150 | 7 | 245,863 | |||||||||||||||
Other long-term liabilities | 41,796 | 46,019 | 50,360 | (85 | ) | 138,090 | |||||||||||||||
Intercompany notes payables | 495,967 | 1,258,851 | 1,046,416 | (2,801,234 | ) | — | |||||||||||||||
Total long-term liabilities | 3,518,819 | 1,524,679 | 1,173,361 | (2,801,312 | ) | 3,415,547 | |||||||||||||||
Stockholders’ equity | 2,067,347 | 2,292,989 | 1,184,449 | (3,477,438 | ) | 2,067,347 | |||||||||||||||
Non-controlling interests | — | — | 4,234 | — | 4,234 | ||||||||||||||||
Total equity | 2,067,347 | 2,292,989 | 1,188,683 | (3,477,438 | ) | 2,071,581 | |||||||||||||||
Total liabilities and equity | $ | 5,981,281 | $ | 4,772,209 | $ | 2,959,683 | $ | (7,564,802 | ) | $ | 6,148,371 | ||||||||||
CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 2,149 | $ | 69,154 | $ | 307,158 | $ | — | $ | 378,461 | |||||||||||
Restricted cash | 5,012 | — | 32,559 | — | 37,571 | ||||||||||||||||
Marketable securities | — | 259 | — | — | 259 | ||||||||||||||||
Accounts receivable, net of allowances | — | 192,775 | 273,331 | — | 466,106 | ||||||||||||||||
Inventories, net | — | 191,323 | 195,606 | (21,764 | ) | 365,165 | |||||||||||||||
Deferred tax assets | 36,347 | 44,961 | 31,265 | — | 112,573 | ||||||||||||||||
Prepaid expenses and other current assets | 9,800 | 31,410 | 88,695 | 2,508 | 132,413 | ||||||||||||||||
Assets held for sale | 1,361 | 284,369 | 29,785 | — | 315,515 | ||||||||||||||||
Intercompany receivables | 404,990 | 888,688 | 55,923 | (1,349,601 | ) | — | |||||||||||||||
Total current assets | 459,659 | 1,702,939 | 1,014,322 | (1,368,857 | ) | 1,808,063 | |||||||||||||||
Property, plant and equipment, net | 30,547 | 218,613 | 204,188 | 222 | 453,570 | ||||||||||||||||
Goodwill | — | 1,795,663 | 1,131,003 | — | 2,926,666 | ||||||||||||||||
Other intangible assets with indefinite lives | — | 9,287 | 34,422 | (58 | ) | 43,651 | |||||||||||||||
Finite-lived intangible assets, net | 6,104 | 742,760 | 527,580 | — | 1,276,444 | ||||||||||||||||
Deferred financing costs, net and other non-current assets | 40,992 | 5,334 | 21,541 | (35 | ) | 67,832 | |||||||||||||||
Investments in subsidiaries | 3,740,004 | 179,315 | 58,067 | (3,977,386 | ) | — | |||||||||||||||
Investments in unconsolidated entities | 13,987 | 14,765 | 49,608 | 13,333 | 91,693 | ||||||||||||||||
Deferred tax assets | — | — | 8,569 | — | 8,569 | ||||||||||||||||
Non-current income tax receivable | 2,468 | — | — | — | 2,468 | ||||||||||||||||
Intercompany notes receivables | 2,028,701 | 649,444 | 46,676 | (2,724,821 | ) | — | |||||||||||||||
Total assets | $ | 6,322,462 | $ | 5,318,120 | $ | 3,095,976 | $ | (8,057,602 | ) | $ | 6,678,956 | ||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Short-term debt and current portion of long-term debt | $ | 61,700 | $ | 2 | $ | 27,173 | $ | — | $ | 88,875 | |||||||||||
Current portion of capital lease obligations | — | 1,045 | 3,196 | — | 4,241 | ||||||||||||||||
Accounts payable | 21,402 | 81,741 | 110,449 | — | 213,592 | ||||||||||||||||
Accrued expenses and other current liabilities | (536,286 | ) | 663,221 | 248,604 | (45 | ) | 375,494 | ||||||||||||||
Liabilities related to assets held for sale | 1,094 | 77,749 | — | — | 78,843 | ||||||||||||||||
Intercompany payables | 902,576 | 198,788 | 248,237 | (1,349,601 | ) | — | |||||||||||||||
Total current liabilities | 450,486 | 1,022,546 | 637,659 | (1,349,646 | ) | 761,045 | |||||||||||||||
Long-term liabilities: | |||||||||||||||||||||
Long-term debt, net of current portion | 3,615,759 | — | 5,626 | — | 3,621,385 | ||||||||||||||||
Capital lease obligations, net of current portion | — | 4,097 | 6,463 | — | 10,560 | ||||||||||||||||
Deferred tax liabilities | (107,844 | ) | 252,944 | 69,457 | 82 | 214,639 | |||||||||||||||
Other long-term liabilities | 42,762 | 46,865 | 71,988 | (33 | ) | 161,582 | |||||||||||||||
Intercompany notes payables | 415,700 | 1,276,245 | 1,032,876 | (2,724,821 | ) | — | |||||||||||||||
Total long-term liabilities | 3,966,377 | 1,580,151 | 1,186,410 | (2,724,772 | ) | 4,008,166 | |||||||||||||||
Stockholders’ equity | 1,905,599 | 2,715,423 | 1,267,761 | (3,983,184 | ) | 1,905,599 | |||||||||||||||
Non-controlling interests | — | — | 4,146 | — | 4,146 | ||||||||||||||||
Total equity | 1,905,599 | 2,715,423 | 1,271,907 | (3,983,184 | ) | 1,909,745 | |||||||||||||||
Total liabilities and equity | $ | 6,322,462 | $ | 5,318,120 | $ | 3,095,976 | $ | (8,057,602 | ) | $ | 6,678,956 | ||||||||||
Swiss Precision Diagnostics And Techlab [Member] | |||||||||||||||||||||
Financial Information Combined Condensed Results of Operations | Summarized financial information for SPD and TechLab on a combined basis is as follows (in thousands): | ||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
Combined Condensed Results of Operations: | 2015 | 2014 | |||||||||||||||||||
Net revenue | $ | 47,857 | $ | 48,933 | |||||||||||||||||
Gross profit | $ | 33,271 | $ | 42,980 | |||||||||||||||||
Net income after taxes | $ | 8,057 | $ | 10,830 | |||||||||||||||||
Financial Information Combined Condensed Balance Sheet | |||||||||||||||||||||
Combined Condensed Balance Sheet: | March 31, 2015 | December 31, 2014 | |||||||||||||||||||
Current assets | $ | 90,482 | $ | 90,546 | |||||||||||||||||
Non-current assets | 32,774 | 33,697 | |||||||||||||||||||
Total assets | $ | 123,256 | $ | 124,243 | |||||||||||||||||
Current liabilities | $ | 31,455 | $ | 35,954 | |||||||||||||||||
Non-current liabilities | 6,145 | 5,884 | |||||||||||||||||||
Total liabilities | $ | 37,600 | $ | 41,838 | |||||||||||||||||
Guarantor_Financial_Informatio1
Guarantor Financial Information (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||
Guarantor Financial Information Consolidating Statement of Comprehensive Income (Loss) | CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Net income | $ | 209,228 | $ | 1,184 | $ | 71,017 | $ | (72,201 | ) | $ | 209,228 | ||||||||||
Other comprehensive loss, before tax: | |||||||||||||||||||||
Changes in cumulative translation adjustment | (657 | ) | (572 | ) | (79,113 | ) | — | (80,342 | ) | ||||||||||||
Minimum pension liability adjustment | — | — | (1,382 | ) | — | (1,382 | ) | ||||||||||||||
Other comprehensive loss, before tax | (657 | ) | (572 | ) | (80,495 | ) | — | (81,724 | ) | ||||||||||||
Income tax benefit related to items of other comprehensive income (loss) | — | — | — | — | — | ||||||||||||||||
Other comprehensive loss, net of tax | (657 | ) | (572 | ) | (80,495 | ) | — | (81,724 | ) | ||||||||||||
Comprehensive income (loss) | 208,571 | 612 | (9,478 | ) | (72,201 | ) | 127,504 | ||||||||||||||
Less: Comprehensive income attributable to non-controlling interests | — | — | 88 | — | 88 | ||||||||||||||||
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | $ | 208,571 | $ | 612 | $ | (9,566 | ) | $ | (72,201 | ) | $ | 127,416 | |||||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Net income (loss) | $ | (5,446 | ) | $ | 8,903 | $ | 23,664 | $ | (32,567 | ) | $ | (5,446 | ) | ||||||||
Other comprehensive income (loss), before tax: | |||||||||||||||||||||
Changes in cumulative translation adjustment | 157 | (129 | ) | (11,368 | ) | — | (11,340 | ) | |||||||||||||
Unrealized losses on available for sale securities | — | (17 | ) | — | — | (17 | ) | ||||||||||||||
Unrealized gains on hedging instruments | — | — | 8 | — | 8 | ||||||||||||||||
Minimum pension liability adjustment | — | — | 74 | — | 74 | ||||||||||||||||
Other comprehensive income (loss), before tax | 157 | (146 | ) | (11,286 | ) | — | (11,275 | ) | |||||||||||||
Income tax benefit related to items of other comprehensive loss | — | — | — | — | — | ||||||||||||||||
Other comprehensive income (loss), net of tax | 157 | (146 | ) | (11,286 | ) | — | (11,275 | ) | |||||||||||||
Comprehensive income (loss) | (5,289 | ) | 8,757 | 12,378 | (32,567 | ) | (16,721 | ) | |||||||||||||
Less: Comprehensive income attributable to non-controlling interests | — | — | 108 | — | 108 | ||||||||||||||||
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | $ | (5,289 | ) | $ | 8,757 | $ | 12,270 | $ | (32,567 | ) | $ | (16,829 | ) | ||||||||
Guarantor Financial Information Consolidating Statement of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Cash Flows from Operating Activities: | |||||||||||||||||||||
Net income | $ | 209,228 | $ | 1,184 | $ | 71,017 | $ | (72,201 | ) | $ | 209,228 | ||||||||||
Income (loss) from discontinued operations, net of tax | 218,689 | (1,912 | ) | — | — | 216,777 | |||||||||||||||
Income (loss) from continuing operations | (9,461 | ) | 3,096 | 71,017 | (72,201 | ) | (7,549 | ) | |||||||||||||
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used in) operating activities: | |||||||||||||||||||||
Equity in earnings of subsidiaries, net of tax | (72,933 | ) | — | — | 72,933 | — | |||||||||||||||
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 3,917 | 7 | 22 | — | 3,946 | ||||||||||||||||
Depreciation and amortization | 1,650 | 42,097 | 30,608 | 13 | 74,368 | ||||||||||||||||
Non-cash stock-based compensation expense | 2,435 | 1,239 | 1,475 | — | 5,149 | ||||||||||||||||
Impairment of inventory | — | 133 | (55 | ) | — | 78 | |||||||||||||||
Impairment of long-lived assets | — | 28 | (97 | ) | — | (69 | ) | ||||||||||||||
Loss on disposition of fixed assets | — | 1,346 | 45 | — | 1,391 | ||||||||||||||||
Equity earnings of unconsolidated entities, net of tax | (424 | ) | — | (3,568 | ) | 33 | (3,959 | ) | |||||||||||||
Deferred income taxes | 9 | (21,021 | ) | 318 | 345 | (20,349 | ) | ||||||||||||||
Loss related to impairment and net (gain) on dispositions | 36,523 | 30,608 | (32,339 | ) | — | 34,792 | |||||||||||||||
Other non-cash items | 1,686 | (749 | ) | 4,987 | (1 | ) | 5,923 | ||||||||||||||
Changes in assets and liabilities, net of acquisitions: | |||||||||||||||||||||
Accounts receivable, net | — | 2,558 | (19,439 | ) | — | (16,881 | ) | ||||||||||||||
Inventories, net | — | (13,803 | ) | (16,052 | ) | (1,313 | ) | (31,168 | ) | ||||||||||||
Prepaid expenses and other current assets | (4,680 | ) | 13,671 | 15,179 | (5,190 | ) | 18,980 | ||||||||||||||
Accounts payable | (7,637 | ) | (470 | ) | (10,541 | ) | — | (18,648 | ) | ||||||||||||
Accrued expenses and other current liabilities | (1,531 | ) | 12,716 | (9,970 | ) | 5,612 | 6,827 | ||||||||||||||
Other non-current liabilities | (5,980 | ) | (197 | ) | (14,467 | ) | (473 | ) | (21,117 | ) | |||||||||||
Cash paid for contingent consideration | (3,641 | ) | — | (13 | ) | — | (3,654 | ) | |||||||||||||
Intercompany payable (receivable) | 49,312 | (57,097 | ) | 7,784 | 1 | — | |||||||||||||||
Net cash provided by (used in) continuing operations | (10,755 | ) | 14,162 | 24,894 | (241 | ) | 28,060 | ||||||||||||||
Net cash provided by discontinued operations | — | 318 | — | — | 318 | ||||||||||||||||
Net cash provided by (used in) operating activities | (10,755 | ) | 14,480 | 24,894 | (241 | ) | 28,378 | ||||||||||||||
Cash Flows from Investing Activities: | |||||||||||||||||||||
(Increase) decrease in restricted cash | 1,919 | — | (1,848 | ) | — | 71 | |||||||||||||||
Purchases of property, plant and equipment | (3,274 | ) | (10,154 | ) | (12,409 | ) | 190 | (25,647 | ) | ||||||||||||
Proceeds from sale of property, plant and equipment | — | — | 808 | — | 808 | ||||||||||||||||
Cash received from (used in) disposition, net of cash divested | 587,637 | (8,584 | ) | 2,132 | — | 581,185 | |||||||||||||||
Cash received from sales of marketable securities | — | 86 | — | — | 86 | ||||||||||||||||
Decrease in other assets | 348 | 362 | 152 | 51 | 913 | ||||||||||||||||
Net cash provided by (used in) continuing operations | 586,630 | (18,290 | ) | (11,165 | ) | 241 | 557,416 | ||||||||||||||
Net cash used in discontinued operations | — | (209 | ) | — | — | (209 | ) | ||||||||||||||
Net cash provided by (used in) investing activities | 586,630 | (18,499 | ) | (11,165 | ) | 241 | 557,207 | ||||||||||||||
Cash Flows from Financing Activities: | |||||||||||||||||||||
Cash paid for financing costs | (59 | ) | — | — | — | (59 | ) | ||||||||||||||
Cash paid for contingent purchase price consideration | (3,953 | ) | — | (743 | ) | — | (4,696 | ) | |||||||||||||
Proceeds from issuance of common stock, net of issuance costs | 34,632 | — | — | — | 34,632 | ||||||||||||||||
Proceeds from issuance of long-term debt | — | — | 15 | — | 15 | ||||||||||||||||
Payments on short-term debt | — | — | (321 | ) | — | (321 | ) | ||||||||||||||
Payments on long-term debt | (463,000 | ) | — | (11 | ) | — | (463,011 | ) | |||||||||||||
Net payments under revolving credit facilities | (127,000 | ) | — | (50 | ) | — | (127,050 | ) | |||||||||||||
Cash paid for dividends | (5,323 | ) | — | — | — | (5,323 | ) | ||||||||||||||
Excess tax benefits on exercised stock options | 506 | 32 | 111 | — | 649 | ||||||||||||||||
Principal payments on capital lease obligations | — | (627 | ) | (857 | ) | — | (1,484 | ) | |||||||||||||
Net cash used in continuing operations | (564,197 | ) | (595 | ) | (1,856 | ) | — | (566,648 | ) | ||||||||||||
Net cash used in discontinued operations | — | (76 | ) | — | — | (76 | ) | ||||||||||||||
Net cash used in financing activities | (564,197 | ) | (671 | ) | (1,856 | ) | — | (566,724 | ) | ||||||||||||
Foreign exchange effect on cash and cash equivalents | — | (207 | ) | (5,920 | ) | — | (6,127 | ) | |||||||||||||
Net increase (decrease) in cash and cash equivalents | 11,678 | (4,897 | ) | 5,953 | — | 12,734 | |||||||||||||||
Cash and cash equivalents, beginning of period – continuing operations | 2,149 | 69,154 | 307,158 | — | 378,461 | ||||||||||||||||
Cash and cash equivalents, beginning of period – discontinued operations | — | 23,300 | — | — | 23,300 | ||||||||||||||||
Cash and cash equivalents of continuing operations, end of period | $ | 13,827 | $ | 87,557 | $ | 313,111 | $ | — | $ | 414,495 | |||||||||||
CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
Cash Flows from Operating Activities: | |||||||||||||||||||||
Net income (loss) | $ | (5,446 | ) | $ | 8,903 | $ | 23,664 | $ | (32,567 | ) | $ | (5,446 | ) | ||||||||
Income (loss) from discontinued operations, net of tax | 328 | (3,759 | ) | 835 | — | (2,596 | ) | ||||||||||||||
Income (loss) from continuing operations | (5,774 | ) | 12,662 | 22,829 | (32,567 | ) | (2,850 | ) | |||||||||||||
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | |||||||||||||||||||||
Tax benefit related to discontinued operations | — | 1,737 | (526 | ) | — | 1,211 | |||||||||||||||
Equity in earnings of subsidiaries, net of tax | (35,069 | ) | (68 | ) | — | 35,137 | — | ||||||||||||||
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 3,857 | 12 | 159 | — | 4,028 | ||||||||||||||||
Depreciation and amortization | 1,399 | 44,180 | 38,165 | 76 | 83,820 | ||||||||||||||||
Non-cash stock-based compensation expense | 2,407 | 1,093 | 2,204 | — | 5,704 | ||||||||||||||||
Impairment of inventory | — | — | 589 | — | 589 | ||||||||||||||||
Impairment of long-lived assets | — | — | 161 | — | 161 | ||||||||||||||||
Loss on disposition of fixed assets | — | 1,465 | 62 | — | 1,527 | ||||||||||||||||
Equity earnings of unconsolidated entities, net of tax | (405 | ) | — | (5,064 | ) | 117 | (5,352 | ) | |||||||||||||
Deferred income taxes | (19,028 | ) | 1,508 | (3,037 | ) | 1,458 | (19,099 | ) | |||||||||||||
Other non-cash items | — | 2,052 | (4,856 | ) | — | (2,804 | ) | ||||||||||||||
Changes in assets and liabilities, net of acquisitions: | |||||||||||||||||||||
Accounts receivable, net | — | (6,573 | ) | 31,719 | — | 25,146 | |||||||||||||||
Inventories, net | — | (8,536 | ) | (105 | ) | (4,064 | ) | (12,705 | ) | ||||||||||||
Prepaid expenses and other current assets | (26,287 | ) | 22,016 | 11,252 | (4,303 | ) | 2,678 | ||||||||||||||
Accounts payable | (4,305 | ) | 10,394 | (2,538 | ) | — | 3,551 | ||||||||||||||
Accrued expenses and other current liabilities | 22,109 | (6,440 | ) | (9,198 | ) | 355 | 6,826 | ||||||||||||||
Other non-current liabilities | 9,099 | 1,158 | (3,820 | ) | 3,954 | 10,391 | |||||||||||||||
Cash paid for contingent consideration | (3,417 | ) | — | (58 | ) | — | (3,475 | ) | |||||||||||||
Intercompany payable (receivable) | 67,749 | (70,945 | ) | 3,196 | — | — | |||||||||||||||
Net cash provided by continuing operations | 12,335 | 5,715 | 81,134 | 163 | 99,347 | ||||||||||||||||
Net cash provided by discontinued operations | — | 5,902 | 648 | — | 6,550 | ||||||||||||||||
Net cash provided by operating activities | 12,335 | 11,617 | 81,782 | 163 | 105,897 | ||||||||||||||||
Cash Flows from Investing Activities: | |||||||||||||||||||||
Decrease in restricted cash | 2,125 | — | 26 | — | 2,151 | ||||||||||||||||
Purchases of property, plant and equipment | (6,055 | ) | (10,500 | ) | (9,093 | ) | 817 | (24,831 | ) | ||||||||||||
Proceeds from sale of property, plant and equipment | 269 | 663 | 112 | (916 | ) | 128 | |||||||||||||||
Cash received from disposition, net of cash divested | — | — | 4,373 | — | 4,373 | ||||||||||||||||
Cash received from sales of marketable securities | — | 60 | — | — | 60 | ||||||||||||||||
Cash paid for equity method investments | (504 | ) | — | (3 | ) | — | (507 | ) | |||||||||||||
Increase in other assets | (311 | ) | (877 | ) | (482 | ) | 53 | (1,617 | ) | ||||||||||||
Net cash used in continuing operations | (4,476 | ) | (10,654 | ) | (5,067 | ) | (46 | ) | (20,243 | ) | |||||||||||
Net cash used in discontinued operations | — | (4,005 | ) | — | — | (4,005 | ) | ||||||||||||||
Net cash used in investing activities | (4,476 | ) | (14,659 | ) | (5,067 | ) | (46 | ) | (24,248 | ) | |||||||||||
Cash Flows from Financing Activities: | |||||||||||||||||||||
Cash paid for financing costs | (7 | ) | — | — | — | (7 | ) | ||||||||||||||
Cash paid for contingent purchase price consideration | (3,922 | ) | — | (123 | ) | — | (4,045 | ) | |||||||||||||
Proceeds from issuance of common stock, net of issuance costs | 14,698 | — | — | — | 14,698 | ||||||||||||||||
Payments on long-term debt | (15,000 | ) | (40 | ) | (522 | ) | — | (15,562 | ) | ||||||||||||
Net proceeds under revolving credit facilities | — | — | 233 | — | 233 | ||||||||||||||||
Cash paid for dividends | (5,323 | ) | — | — | — | (5,323 | ) | ||||||||||||||
Excess tax benefits on exercised stock options | 53 | 207 | 32 | — | 292 | ||||||||||||||||
Principal payments on capital lease obligations | — | (860 | ) | (760 | ) | — | (1,620 | ) | |||||||||||||
Net cash used in continuing operations | (9,501 | ) | (693 | ) | (1,140 | ) | — | (11,334 | ) | ||||||||||||
Net cash provided by (used in) discontinued operations | (150 | ) | 458 | — | — | 308 | |||||||||||||||
Net cash used in financing activities | (9,651 | ) | (235 | ) | (1,140 | ) | — | (11,026 | ) | ||||||||||||
Foreign exchange effect on cash and cash equivalents | 11 | (128 | ) | 729 | (117 | ) | 495 | ||||||||||||||
Net increase (decrease) in cash and cash equivalents | (1,781 | ) | (3,405 | ) | 76,304 | — | 71,118 | ||||||||||||||
Cash and cash equivalents, beginning of period—continuing operations | 14,801 | 78,976 | 261,654 | — | 355,431 | ||||||||||||||||
Cash and cash equivalents, beginning of period—discontinued operations | — | 6,476 | — | — | 6,476 | ||||||||||||||||
Cash and cash equivalents, end of period | 13,020 | 82,047 | 337,958 | — | 433,025 | ||||||||||||||||
Less: Cash and cash equivalents of discontinued operations, end of period | — | 7,959 | — | — | 7,959 | ||||||||||||||||
Cash and cash equivalents of continuing operations, end of period | $ | 13,020 | $ | 74,088 | $ | 337,958 | $ | — | $ | 425,066 | |||||||||||
Revision_of_Previously_Reporte2
Revision of Previously Reported Amounts - Additional Information (Detail) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Accounting Changes and Error Corrections [Abstract] | |
Adjustment to contingent consideration obligation | $4.60 |
Adjustment to tax provision | $4.20 |
Revision_of_Previously_Reporte3
Revision of Previously Reported Amounts - Revised Consolidated Statements of Operations (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ||
Cost of net product sales | $238,637 | $242,981 |
Cost of service revenue | 75,581 | 70,361 |
Cost of net product sales and services revenue | 314,218 | 313,342 |
Cost of net revenue | 316,168 | 314,881 |
Gross profit | 291,985 | 310,358 |
General and administrative | 92,691 | 103,619 |
Operating income | 27,407 | 34,996 |
Other income (expense), net | -1,270 | 7,032 |
Loss from continuing operations before benefit for income taxes | -20,294 | -9,882 |
Benefit for income taxes | -8,786 | -1,680 |
Loss from continuing operations before equity earnings of unconsolidated entities, net of tax | -11,508 | -8,202 |
Loss from continuing operations | -7,549 | -2,850 |
Net loss | 209,228 | -5,446 |
Net loss attributable to Alere Inc. and Subsidiaries | 209,140 | -5,554 |
Net loss available to common stockholders | 203,890 | -10,804 |
Basic and diluted loss per common share: Loss from continuing operations | ($0.15) | ($0.10) |
Basic and diluted net loss per common share: Net loss per common share | $2.42 | ($0.13) |
As Previously Reported, Giving Effect to the Impact of Discontinued Operations [Member] | ||
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ||
Cost of net product sales | 243,526 | |
Cost of service revenue | 68,897 | |
Cost of net product sales and services revenue | 312,423 | |
Cost of net revenue | 313,962 | |
Gross profit | 311,277 | |
General and administrative | 109,415 | |
Operating income | 30,119 | |
Other income (expense), net | 5,282 | |
Loss from continuing operations before benefit for income taxes | -16,509 | |
Benefit for income taxes | -5,158 | |
Loss from continuing operations before equity earnings of unconsolidated entities, net of tax | -11,351 | |
Loss from continuing operations | -5,999 | |
Net loss | -8,595 | |
Net loss attributable to Alere Inc. and Subsidiaries | -8,703 | |
Net loss available to common stockholders | -13,953 | |
Basic and diluted loss per common share: Loss from continuing operations | ($0.14) | |
Basic and diluted net loss per common share: Net loss per common share | ($0.17) | |
Adjustment [Member] | ||
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ||
Cost of net product sales | -545 | |
Cost of service revenue | 1,464 | |
Cost of net product sales and services revenue | 919 | |
Cost of net revenue | 919 | |
Gross profit | -919 | |
General and administrative | -5,796 | |
Operating income | 4,877 | |
Other income (expense), net | 1,750 | |
Loss from continuing operations before benefit for income taxes | 6,627 | |
Benefit for income taxes | 3,478 | |
Loss from continuing operations before equity earnings of unconsolidated entities, net of tax | 3,149 | |
Loss from continuing operations | 3,149 | |
Net loss | 3,149 | |
Net loss attributable to Alere Inc. and Subsidiaries | 3,149 | |
Net loss available to common stockholders | $3,149 | |
Basic and diluted loss per common share: Loss from continuing operations | $0.04 | |
Basic and diluted net loss per common share: Net loss per common share | $0.04 |
Revision_of_Previously_Reporte4
Revision of Previously Reported Amounts - Revised Consolidated Statements of Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net loss | $209,228 | ($5,446) |
Comprehensive loss | 127,504 | -16,721 |
Comprehensive loss attributable to Alere Inc. and Subsidiaries | 127,416 | -16,829 |
As Previously Reported, Giving Effect to the Impact of Discontinued Operations [Member] | ||
Net loss | -8,595 | |
Comprehensive loss | -19,870 | |
Comprehensive loss attributable to Alere Inc. and Subsidiaries | -19,978 | |
Adjustment [Member] | ||
Net loss | 3,149 | |
Comprehensive loss | 3,149 | |
Comprehensive loss attributable to Alere Inc. and Subsidiaries | $3,149 |
Revision_of_Previously_Reporte5
Revision of Previously Reported Amounts - Revised Consolidated Statements of Cash Flows (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net loss | $209,228 | ($5,446) |
Loss from continuing operations | -7,549 | -2,850 |
Deferred income taxes | -20,349 | -19,099 |
Prepaid expenses and other current assets | 117,924 | 2,678 |
Accrued expenses and other current liabilities | 6,827 | 6,826 |
Other non-current liabilities | -21,117 | 10,391 |
Net cash provided by continuing operations | 28,060 | 99,347 |
Net cash provided by operating activities | 28,378 | 105,897 |
Purchases of property, plant and equipment | -25,647 | -24,831 |
Net cash used in continuing operations | 557,416 | -20,243 |
Net cash used in investing activities | 557,207 | -24,248 |
As Previously Reported, Giving Effect to the Impact of Discontinued Operations [Member] | ||
Net loss | -8,595 | |
Loss from continuing operations | -5,999 | |
Deferred income taxes | -21,729 | |
Prepaid expenses and other current assets | 4,428 | |
Accrued expenses and other current liabilities | 7,035 | |
Other non-current liabilities | 14,221 | |
Net cash provided by continuing operations | 99,358 | |
Net cash provided by operating activities | 105,908 | |
Purchases of property, plant and equipment | -24,842 | |
Net cash used in continuing operations | -20,254 | |
Net cash used in investing activities | -24,259 | |
Adjustment [Member] | ||
Net loss | 3,149 | |
Loss from continuing operations | 3,149 | |
Deferred income taxes | 2,630 | |
Prepaid expenses and other current assets | -1,750 | |
Accrued expenses and other current liabilities | -209 | |
Other non-current liabilities | -3,830 | |
Net cash provided by continuing operations | -11 | |
Net cash provided by operating activities | -11 | |
Purchases of property, plant and equipment | 11 | |
Net cash used in continuing operations | 11 | |
Net cash used in investing activities | $11 |
Discontinued_Operations_Additi
Discontinued Operations - Additional Information (Detail) (USD $) | 0 Months Ended | |
Oct. 10, 2014 | Jan. 09, 2015 | |
Alere Accountable Care Solutions, LLC ("ACS") [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Cash proceeds on sale of discontinued operations | $2 | |
Contingent consideration receivable on sale of discontinued operations | 7,000,000 | |
Alere Accountable Care Solutions, LLC ("ACS") [Member] | Maximum [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Reimbursable expenses payable to purchaser | 750,000 | |
Health Management Business [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Cash proceeds on sale of discontinued operations | 600,100,000 | |
Health Management Business [Member] | Secured Credit Facility [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Repayment of senior secured credit facility | $575,000,000 |
Discontinued_Operations_Schedu
Discontinued Operations - Schedule of Assets and Liabilities Associated with Health Management Business Segregated and Classified as Assets Held for Sale and Liabilities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Assets | ||||
Cash and cash equivalents | $0 | $23,300 | $7,959 | $6,476 |
Restricted cash | 37,406 | 37,571 | ||
Goodwill | 2,880,164 | 2,926,666 | ||
Total assets held for sale | 0 | 315,515 | ||
Liabilities | ||||
Deferred tax liabilities - non-current | 245,863 | 214,639 | ||
Total liabilities related to assets held for sale | 0 | 78,843 | ||
Health Management Business [Member] | ||||
Assets | ||||
Cash and cash equivalents | 23,300 | |||
Restricted cash | 361 | |||
Accounts receivable, net of allowances of $5,882 at December 31, 2014 | 50,902 | |||
Inventories, net | 1,656 | |||
Deferred tax assets - current | 6,939 | |||
Prepaid expenses and other current assets | 3,857 | |||
Property, plant and equipment, net | 57,595 | |||
Goodwill | 82,665 | |||
Finite-lived intangible assets, net | 82,428 | |||
Deferred tax assets - non-current | 3,347 | |||
Other non-current assets | 2,465 | |||
Total assets held for sale | 315,515 | |||
Liabilities | ||||
Current portion of capital lease obligations | 799 | |||
Accounts payable | 5,654 | |||
Accrued expenses and other current liabilities | 32,822 | |||
Capital lease obligations, net of current portion | 365 | |||
Deferred tax liabilities - non-current | 27,453 | |||
Other long-term liabilities | 11,750 | |||
Total liabilities related to assets held for sale | $78,843 |
Discontinued_Operations_Schedu1
Discontinued Operations - Schedule of Assets and Liabilities Associated with Health Management Business Segregated and Classified as Assets Held for Sale and Liabilities (Parenthetical) (Detail) (Health Management Business [Member], USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Health Management Business [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Accounts receivable, allowances | $5,882 |
Discontinued_Operations_Summar
Discontinued Operations - Summarized Financial Information Related to ACS Companies and Health Management Business (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Income (loss) from discontinued operations, net of tax | $216,777 | ($2,596) |
Alere Accountable Care Solutions, LLC ("ACS") and Health Management Business Segment [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Net revenue | 7,373 | 91,383 |
Cost of net revenue | -4,413 | -51,420 |
Sales and marketing | -996 | -14,020 |
General and administrative | -5,001 | -30,120 |
Interest expense | -9 | -136 |
Other income (expense), net | 160 | -559 |
Gain on disposal | 366,191 | 0 |
Income (loss) from discontinued operations before provision (benefit) for income taxes | 363,305 | -4,872 |
Provision (benefit) for income taxes | 146,528 | -2,276 |
Income (loss) from discontinued operations, net of tax | $216,777 | ($2,596) |
Cash_and_Cash_Equivalents_Addi
Cash and Cash Equivalents - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Cash investments maturity period | Three months or less |
Inventories_Inventories_are_St
Inventories - Inventories are Stated at Lower of Cost (First In, First Out) or Market (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ||
Raw materials | $128,731 | $122,886 |
Work-in-process | 73,397 | 82,724 |
Finished goods | 172,845 | 159,555 |
Inventories, net | $374,973 | $365,165 |
Stockbased_Compensation_Stockb
Stock-based Compensation - Stock-based Compensation Expense (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation | $5,149 | $5,704 |
Benefit for income taxes | -2,373 | -1,778 |
Stock-based compensation, net of tax | 2,776 | 3,926 |
Cost of Net Revenue [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation | 253 | 287 |
Research and Development [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation | 324 | 1,191 |
Sales and Marketing [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation | 1,094 | 891 |
General and Administrative [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation | $3,478 | $3,335 |
Recovered_Sheet1
Net Income (Loss) Per Common Share - Computation of Basic and Diluted Net Income (Loss) Per Common Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Numerator: | ||
Loss from continuing operations | ($7,549) | ($2,850) |
Preferred stock dividends | -5,250 | -5,250 |
Loss from continuing operations attributable to common shares | -12,799 | -8,100 |
Less: Net income attributable to non-controlling interest | 88 | 108 |
Loss from continuing operations attributable to Alere Inc. and Subsidiaries | -12,887 | -8,208 |
Income (loss) from discontinued operations | 216,777 | -2,596 |
Net income (loss) available to common stockholders | $203,890 | ($10,804) |
Denominator: | ||
Weighted-average common shares outstanding - basic and diluted | 84,338 | 82,387 |
Basic and diluted net income (loss) per common share: | ||
Loss from continuing operations attributable to Alere Inc. and Subsidiaries | ($0.15) | ($0.10) |
Income (loss) from discontinued operations | $2.57 | ($0.03) |
Basic and diluted net income (loss) per common share | $2.42 | ($0.13) |
Recovered_Sheet2
Net Income (Loss) Per Common Share - Potential Dilutive Securities Not Included in Calculation of Diluted Net Income (Loss) Per Common Share (Detail) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Denominator: | ||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 21,563 | 25,182 |
Options to Purchase Shares of Common Stock [Member] | ||
Denominator: | ||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 7,882 | 11,143 |
Warrants [Member] | ||
Denominator: | ||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 4 | 4 |
Conversion Shares Related to 3% Convertible Senior Subordinated Notes [Member] | ||
Denominator: | ||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 3,411 | 3,411 |
Conversion Shares Related to Subordinated Convertible Promissory Notes [Member] | ||
Denominator: | ||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 27 | 27 |
Conversion Shares Related to Series B Convertible Preferred Stock [Member] | ||
Denominator: | ||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 10,239 | 10,239 |
Common Stock Equivalents Related to the Settlement of a Contingent Consideration Obligation [Member] | ||
Denominator: | ||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 0 | 358 |
Net_Income_Loss_Per_Common_Sha2
Net Income (Loss) Per Common Share - Potential Dilutive Securities Not Included in Calculation of Diluted Net Income (Loss) Per Common Share (Parenthetical) (Detail) (Conversion Shares Related to 3% Convertible Senior Subordinated Notes [Member]) | Mar. 31, 2015 | Mar. 31, 2014 |
Conversion Shares Related to 3% Convertible Senior Subordinated Notes [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Interest rate of debt instrument | 3.00% | 3.00% |
Stockholders_Equity_and_Noncon2
Stockholders' Equity and Non-controlling Interests - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Class of Stock [Line Items] | ||
Preferred stock dividends | $5,250,000 | $5,250,000 |
Series B Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred stock dividends | 5,300,000 | 5,300,000 |
Preferred stock dividends accrued | 5,300,000 | |
Preferred stock dividends cash paid | $5,300,000 | $5,300,000 |
Stockholders_Equity_and_Noncon3
Stockholders' Equity and Non-controlling Interests - Summary of Changes in Stockholders' Equity and Non-controlling Interests Comprising Total Equity (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Equity And Noncontrolling Interests [Line Items] | ||
Equity, beginning of period | $1,909,745 | $2,078,138 |
Issuance of common stock under employee compensation plans | 34,632 | 14,698 |
Preferred stock dividends | -5,323 | -5,323 |
Stock-based compensation expense | 5,149 | 5,704 |
Excess tax benefits on exercised stock options | -126 | 17 |
Net income (loss) | 209,228 | -5,446 |
Total other comprehensive loss | -81,724 | -11,275 |
Equity, end of period | 2,071,581 | 2,076,513 |
Total Stockholders' Equity [Member] | ||
Equity And Noncontrolling Interests [Line Items] | ||
Equity, beginning of period | 1,905,599 | 2,073,256 |
Issuance of common stock under employee compensation plans | 34,632 | 14,698 |
Preferred stock dividends | -5,323 | -5,323 |
Stock-based compensation expense | 5,149 | 5,704 |
Excess tax benefits on exercised stock options | -126 | 17 |
Net income (loss) | 209,140 | -5,554 |
Total other comprehensive loss | -81,724 | -11,275 |
Equity, end of period | 2,067,347 | 2,071,523 |
Non-controlling Interests [Member] | ||
Equity And Noncontrolling Interests [Line Items] | ||
Equity, beginning of period | 4,146 | 4,882 |
Issuance of common stock under employee compensation plans | 0 | 0 |
Preferred stock dividends | 0 | 0 |
Stock-based compensation expense | 0 | 0 |
Excess tax benefits on exercised stock options | 0 | 0 |
Net income (loss) | 88 | 108 |
Total other comprehensive loss | 0 | 0 |
Equity, end of period | $4,234 | $4,990 |
Restructuring_Aggregate_Charge
Restructuring - Aggregate Charges Associated with Restructuring Plans Recorded in Operating Income (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | $4,270 | $4,398 |
Restructuring charges | 4,277 | 4,410 |
Interest Expense, Including Amortization of Original Issue Discounts and Deferred Financing Costs [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | 7 | 12 |
Cost of Net Revenue [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | 1,502 | 833 |
Research and Development [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | 493 | 0 |
Sales and Marketing [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | 1,383 | 1,550 |
General and Administrative [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | 892 | 2,015 |
Total Operating Expenses [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | $4,270 | $4,398 |
Restructuring_Restructuring_Ac
Restructuring - Restructuring Activities Related to Restructuring Plans (Detail) (USD $) | 3 Months Ended | 87 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $4,270 | $4,398 | |
Professional Diagnostics [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 4,235 | 4,303 | |
Corporate and Other [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 35 | 95 | |
2014 Restructuring Plans [Member] | Professional Diagnostics [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 4,235 | 3,148 | 46,453 |
2014 Restructuring Plans [Member] | Professional Diagnostics [Member] | Severance-Related Costs (Recoveries) [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 2,800 | 2,364 | 30,606 |
2014 Restructuring Plans [Member] | Professional Diagnostics [Member] | Facility and Transition Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 1,426 | 34 | 4,886 |
2014 Restructuring Plans [Member] | Professional Diagnostics [Member] | Cash Charges (Recoveries) [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 4,226 | 2,398 | 35,492 |
2014 Restructuring Plans [Member] | Professional Diagnostics [Member] | Fixed Asset and Inventory Impairments [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 9 | 750 | 10,961 |
2014 Restructuring Plans [Member] | Corporate and Other [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 35 | 95 | 14,271 |
2014 Restructuring Plans [Member] | Corporate and Other [Member] | Severance-Related Costs (Recoveries) [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 42 | 87 | 2,943 |
2014 Restructuring Plans [Member] | Corporate and Other [Member] | Facility and Transition Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | -7 | 8 | 11,328 |
2013, 2011 and 2008 Restructuring Plans [Member] | Professional Diagnostics [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Other non-cash charges | 0 | 0 | 64 |
Restructuring charges | 7 | 1,167 | 45,737 |
2013, 2011 and 2008 Restructuring Plans [Member] | Professional Diagnostics [Member] | Severance-Related Costs (Recoveries) [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 0 | 897 | 26,926 |
2013, 2011 and 2008 Restructuring Plans [Member] | Professional Diagnostics [Member] | Facility and Transition Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 0 | 258 | 10,480 |
2013, 2011 and 2008 Restructuring Plans [Member] | Professional Diagnostics [Member] | Cash Charges (Recoveries) [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 7 | 1,167 | 38,211 |
2013, 2011 and 2008 Restructuring Plans [Member] | Professional Diagnostics [Member] | Other Exit Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 7 | 12 | 805 |
2013, 2011 and 2008 Restructuring Plans [Member] | Professional Diagnostics [Member] | Fixed Asset and Inventory Impairments [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 0 | 0 | 6,776 |
2013, 2011 and 2008 Restructuring Plans [Member] | Professional Diagnostics [Member] | Intangible Asset Impairments [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $0 | $0 | $686 |
Restructuring_Additional_Infor
Restructuring - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Restructuring Cost and Reserve [Line Items] | ||
Cash charges remain unpaid | $4,004,000 | $14,748,000 |
Restructuring reserves included in accrued expenses and other current liabilities | 3,600,000 | |
Restructuring reserves included in other long-term liabilities | 400,000 | |
2014 Restructuring Plans [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Cash charges remain unpaid | 3,400,000 | |
2013, 2011 and 2008 Restructuring Plans [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Cash charges remain unpaid | 600,000 | |
Professional Diagnostics [Member] | 2014 Restructuring Plans [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Additional costs | 5,600,000 | |
Professional Diagnostics [Member] | 2013, 2011 and 2008 Restructuring Plans [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Additional costs | 0 | |
Corporate and Other [Member] | 2014 Restructuring Plans [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Additional costs | $0 |
Restructuring_Cash_Activity_fo
Restructuring - Cash Activity for Restructuring Reserves (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve, Beginning Balance | $14,748 |
Cash charges | 4,268 |
Payments | -14,591 |
Currency adjustments | -421 |
Restructuring Reserve, Ending Balance | 4,004 |
Severance-Related Costs (Recoveries) [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve, Beginning Balance | 4,590 |
Cash charges | 2,842 |
Payments | -5,330 |
Currency adjustments | -276 |
Restructuring Reserve, Ending Balance | 1,826 |
Facility and Transition Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve, Beginning Balance | 9,868 |
Cash charges | 1,419 |
Payments | -9,230 |
Currency adjustments | -145 |
Restructuring Reserve, Ending Balance | 1,912 |
Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve, Beginning Balance | 290 |
Cash charges | 7 |
Payments | -31 |
Currency adjustments | 0 |
Restructuring Reserve, Ending Balance | $266 |
LongTerm_Debt_LongTerm_Debt_Ba
Long-Term Debt - Long-Term Debt Balances Outstanding (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Long-term debt, Total | $3,119,146 | $3,710,260 |
Long-term debt, Total | 3,119,146 | 3,710,260 |
Less: Short-term debt and current portion | -95,299 | -88,875 |
Long-term debt, after discount, Total | 3,023,847 | 3,621,385 |
A Term Loans [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, Total | 608,123 | 785,938 |
Long-term debt, Total | 608,123 | 785,938 |
B Term Loans [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, Total | 1,045,705 | 1,330,810 |
Long-term debt, Total | 1,045,705 | 1,330,810 |
Revolving Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, Total | 0 | 127,000 |
Long-term debt, Total | 0 | 127,000 |
7.25% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, Total | 450,000 | 450,000 |
Long-term debt, Total | 450,000 | 450,000 |
6.5% Senior Subordinated Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, Total | 425,000 | 425,000 |
Long-term debt, Total | 425,000 | 425,000 |
8.625% Senior Subordinated Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, Total | 400,000 | 400,000 |
Long-term debt, Total | 400,000 | 400,000 |
3% Convertible Senior Subordinated Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, Total | 150,000 | 150,000 |
Long-term debt, Total | 150,000 | 150,000 |
Other Lines of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, Total | 603 | 684 |
Long-term debt, Total | 603 | 684 |
Other [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, Total | 39,715 | 40,828 |
Long-term debt, Total | $39,715 | $40,828 |
LongTerm_Debt_LongTerm_Debt_Ba1
Long-Term Debt - Long-Term Debt Balances Outstanding (Parenthetical) (Detail) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
7.25% Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Interest rate | 7.25% | 7.25% | 7.25% |
6.5% Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Interest rate | 6.50% | 6.50% | 6.50% |
8.625% Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Interest rate | 8.63% | 8.63% | 8.63% |
3% Convertible Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Interest rate | 3.00% | 3.00% | 3.00% |
LongTerm_Debt_LongTerm_Debt_In
Long-Term Debt - Long-Term Debt Interest Expense (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Debt Instrument [Line Items] | ||
Long-term debt issuance cost | $45,738 | $50,984 |
Secured Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt issuance cost | 19,462 | 24,762 |
7.25% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt issuance cost | 8,524 | 8,525 |
6.5% Senior Subordinated Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt issuance cost | 7,233 | 7,178 |
8.625% Senior Subordinated Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt issuance cost | 9,273 | 9,273 |
3% Convertible Senior Subordinated Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt issuance cost | $1,246 | $1,246 |
LongTerm_Debt_LongTerm_Debt_In1
Long-Term Debt - Long-Term Debt Interest Expense (Parenthetical) (Detail) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Debt Instrument [Line Items] | |||
Amortization fee | $0.40 | $0.40 | |
7.25% Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Interest rate | 7.25% | 7.25% | 7.25% |
6.5% Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Interest rate | 6.50% | 6.50% | 6.50% |
8.625% Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Interest rate | 8.63% | 8.63% | 8.63% |
3% Convertible Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Interest rate | 3.00% | 3.00% | 3.00% |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Value Assets and Liabilities Measured on Recurring Basis, Valuation Techniques (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Marketable securities | $173 | $259 |
Total assets | 173 | 259 |
Liabilities: | ||
Contingent consideration obligations | 114,297 | 139,671 |
Total liabilities | 114,297 | 139,671 |
Quoted Prices in Active Markets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Marketable securities | 173 | 259 |
Total assets | 173 | 259 |
Liabilities: | ||
Contingent consideration obligations | 0 | 0 |
Total liabilities | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Marketable securities | 0 | 0 |
Total assets | 0 | 0 |
Liabilities: | ||
Contingent consideration obligations | 0 | 0 |
Total liabilities | 0 | 0 |
Unobservable Inputs (Level 3) [Member] | ||
Liabilities: | ||
Contingent consideration obligations | 114,297 | 139,671 |
Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Marketable securities | 0 | 0 |
Total assets | 0 | 0 |
Liabilities: | ||
Contingent consideration obligations | 114,297 | 139,671 |
Total liabilities | $114,297 | $139,671 |
Fair_Value_Measurements_Change
Fair Value Measurements - Changes in Fair Value of Contingent Consideration Obligations (Detail) (Unobservable Inputs (Level 3) [Member], USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Unobservable Inputs (Level 3) [Member] | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Fair value of contingent consideration obligations, December 31, 2014 | $139,671 |
Payments | -9,798 |
Present value accretion and adjustments | -14,035 |
Reclassification to other liability account | -1,550 |
Foreign currency adjustments | 9 |
Fair value of contingent consideration obligations, March 31, 2015 | $114,297 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Billions, unless otherwise specified | ||
Debt Disclosure [Abstract] | ||
Estimated fair value of our long-term debt | $3.20 | $3.70 |
Long-term debt, Total | $3.10 | $3.70 |
Defined_Benefit_Pension_Plan_N
Defined Benefit Pension Plan - Net Periodic Benefit Costs (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Compensation and Retirement Disclosure [Abstract] | ||
Service cost | $0 | $0 |
Interest cost | 229 | 199 |
Expected return on plan assets | -235 | -188 |
Amortization of prior service cost | 336 | 110 |
Net periodic benefit cost | $330 | $121 |
Financial_Information_by_Segme2
Financial Information by Segment - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Segments | |
Segment Reporting [Abstract] | |
Number of operating segments | 4 |
Financial_Information_by_Segme3
Financial Information by Segment - Performance of Our Operating Segments Based on Revenue and Operating Income (Loss) (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Segment Reporting Information [Line Items] | |||
Net revenue | $608,153 | $625,239 | |
Operating income (loss) | 27,407 | 34,996 | |
Impairment and (gain) loss on dispositions, net | 34,792 | 0 | |
Depreciation and amortization | 74,368 | 83,820 | |
Restructuring charges | 4,270 | 4,398 | |
Stock-based compensation | 5,149 | 5,704 | |
Assets | 6,148,371 | 6,678,956 | |
Professional Diagnostics [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 586,185 | 602,937 | |
Operating income (loss) | 49,790 | 55,478 | |
Impairment and (gain) loss on dispositions, net | 34,792 | ||
Depreciation and amortization | 72,423 | 82,406 | |
Restructuring charges | 4,235 | 4,303 | |
Stock-based compensation | 0 | 0 | |
Assets | 5,842,150 | 6,323,944 | |
Consumer Diagnostics [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 21,968 | 22,302 | |
Operating income (loss) | 2,204 | 699 | |
Impairment and (gain) loss on dispositions, net | 0 | ||
Depreciation and amortization | 711 | 780 | |
Restructuring charges | 0 | 0 | |
Stock-based compensation | 0 | 0 | |
Assets | 225,696 | 216,451 | |
Corporate and Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 0 | 0 | |
Operating income (loss) | -24,587 | -21,181 | |
Impairment and (gain) loss on dispositions, net | 0 | ||
Depreciation and amortization | 1,234 | 634 | |
Restructuring charges | 35 | 95 | |
Stock-based compensation | 5,149 | 5,704 | |
Assets | $80,525 | $138,561 |
Financial_Information_by_Segme4
Financial Information by Segment - Summary of Company's Net Revenue from Professional Diagnostics and Consumer Diagnostics Reporting Segments by Groups of Similar Products and Services (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Sales revenue net | $603,455 | $620,027 |
Total professional diagnostics net product sales and services revenue | 123,856 | 128,708 |
License and royalty revenue | 4,698 | 5,212 |
Net revenue | 608,153 | 625,239 |
Professional Diagnostics [Member] | ||
Segment Reporting Information [Line Items] | ||
Net revenue | 586,185 | 602,937 |
Reportable Subsegments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total professional diagnostics net product sales and services revenue | 581,487 | 597,725 |
License and royalty revenue | 4,698 | 5,212 |
Net revenue | 586,185 | 602,937 |
Reportable Subsegments [Member] | Professional Diagnostics [Member] | Cardiometabolic [Member] | ||
Segment Reporting Information [Line Items] | ||
Sales revenue net | 202,843 | 213,963 |
Reportable Subsegments [Member] | Professional Diagnostics [Member] | Infectious Disease [Member] | ||
Segment Reporting Information [Line Items] | ||
Sales revenue net | 178,756 | 167,613 |
Reportable Subsegments [Member] | Professional Diagnostics [Member] | Toxicology [Member] | ||
Segment Reporting Information [Line Items] | ||
Sales revenue net | 148,756 | 155,533 |
Reportable Subsegments [Member] | Professional Diagnostics [Member] | Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Sales revenue net | $51,132 | $60,616 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | 31-May-07 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | |
USD ($) | USD ($) | SPD Joint Venture [Member] | SPD Joint Venture [Member] | SPD Joint Venture [Member] | SPD Joint Venture [Member] | SPD Joint Venture [Member] | SPD Joint Venture [Member] | SPD Joint Venture [Member] | SPD Shanghai [Member] | SPD Shanghai [Member] | SPD Shanghai [Member] | |
USD ($) | USD ($) | Sales Revenue Goods [Member] | Sales Revenue Goods [Member] | Sales Revenue Services [Member] | Sales Revenue Services [Member] | USD ($) | Maximum [Member] | Maximum [Member] | ||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | |||||||
Related Party Transaction [Line Items] | ||||||||||||
Joint venture ownership percentage with Procter & Gamble | 50.00% | |||||||||||
Net payable to SPD | $3,500,000 | $4,000,000 | ||||||||||
Restructuring charges | 4,270,000 | 4,398,000 | 1,500,000 | 1,600,000 | ||||||||
Long-term receivable cost related to restructuring plan | 10,400,000 | 10,900,000 | ||||||||||
Customer receivables associated with revenue earned after SPD was completed have been classified as other receivables | 7,700,000 | 9,600,000 | ||||||||||
Revenue from joint venture | 19,500,000 | 20,600,000 | 300,000 | 400,000 | ||||||||
Trade receivables from SPD | 6,100,000 | 10,500,000 | ||||||||||
Trade payable to SPD | 31,200,000 | 30,800,000 | ||||||||||
Loan arrangement from related party | 3,800,000 | 23,000,000 | ||||||||||
Restricted cash | $3,800,000 |
Related_Party_Transactions_Rel
Related Party Transactions - Related Party Balances with SPD within Consolidated Balance Sheets (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Related Party Transaction [Line Items] | |||
Accounts receivable, net of allowances | $471,663 | $466,106 | |
Prepaid expenses and other current assets | 117,924 | 132,413 | 2,678 |
Deferred financing costs, net and other non-current assets | 61,477 | 67,832 | |
Accounts payable | 195,980 | 213,592 | |
SPD Joint Venture [Member] | |||
Related Party Transaction [Line Items] | |||
Accounts receivable, net of allowances | 6,139 | 10,465 | |
Prepaid expenses and other current assets | 7,659 | 9,635 | |
Deferred financing costs, net and other non-current assets | 10,385 | 10,875 | |
Accounts payable | $34,671 | $34,816 |
Other_Arrangements_Additional_
Other Arrangements - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 | Mar. 31, 2015 | Feb. 28, 2013 | Mar. 31, 2014 |
Agreements [Line Items] | ||||
Period of contract | 3 years 6 months | |||
The amount provided for development of diagnostic device by BARDA as defined in the agreement | $12.90 | |||
Net expenditure incurred under the contract | 0.5 | |||
The amount of cash reimbursement received from BARDA | 0.3 | |||
Amount of accounts receivable | 0.1 | |||
Gates Foundation [Member] | ||||
Agreements [Line Items] | ||||
Revenue from grant awarded | 21.6 | |||
Cash received from grant-related funding | 17.4 | |||
Qualified expenditures | 2.1 | 2.1 | ||
Gates Loan Agreement [Member] | ||||
Agreements [Line Items] | ||||
Aggregate principal amount of subordinated term loan | $20.60 | |||
Loan bearing interest rate | 3.00% | |||
Maturity date | 31-Dec-19 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Contractual Contingent Purchase Price Consideration Obligations Related to Certain Acquisitions (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 27, 2015 | Dec. 31, 2014 |
Business Acquisition, Contingent Consideration [Line Items] | |||
Estimated Fair Value | $114,297 | $139,671 | |
Payments made during 2015 | 9,798 | ||
Ionian Technologies, Inc. [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Acquisition Date | 12-Jul-10 | ||
Acquisition Date Fair Value | 24,500 | ||
Maximum Remaining Earn-out Potential | 50,000 | ||
Remaining Earn-out Period | 2015 | ||
Estimated Fair Value | 25,200 | 24,500 | |
Payments made during 2015 | 0 | ||
TwistDx, Inc. [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Acquisition Date | 11-Mar-10 | ||
Acquisition Date Fair Value | 35,600 | ||
Maximum Remaining Earn-out Potential | 103,552 | ||
Estimated Fair Value | 36,200 | 41,100 | |
Payments made during 2015 | 5,072 | ||
TwistDx, Inc. [Member] | Minimum [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Remaining Earn-out Period | 2015 | ||
TwistDx, Inc. [Member] | Maximum [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Remaining Earn-out Period | 2025 | ||
DiagnosisOne, Inc. [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Acquisition Date | 31-Jul-12 | ||
Acquisition Date Fair Value | 22,300 | ||
Maximum Remaining Earn-out Potential | 0 | ||
Estimated Fair Value | 0 | 21,000 | |
Payments made during 2015 | 4,450 | 4,500 | |
Epocal [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Acquisition Date | 1-Feb-13 | ||
Acquisition Date Fair Value | 75,000 | ||
Maximum Remaining Earn-out Potential | 65,500 | ||
Estimated Fair Value | 47,500 | 47,200 | |
Payments made during 2015 | 0 | ||
Epocal [Member] | Minimum [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Remaining Earn-out Period | 2015 | ||
Epocal [Member] | Maximum [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Remaining Earn-out Period | 2018 | ||
Other [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Acquisition Date | Various | ||
Acquisition Date Fair Value | 43,854 | ||
Maximum Remaining Earn-out Potential | 0 | ||
Estimated Fair Value | 5,397 | 5,871 | |
Payments made during 2015 | $276 | ||
Other [Member] | Minimum [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Remaining Earn-out Period | 2015 | ||
Other [Member] | Maximum [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Remaining Earn-out Period | 2016 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Contractual Contingent Purchase Price Consideration Obligations Related to Certain Acquisitions (Parenthetical) (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 27, 2015 | |
Business Acquisition, Contingent Consideration [Line Items] | ||
Earn-out period | 15 years | |
Payments made under acquisition related contingent obligations | $9,798,000 | |
Ionian Technologies, Inc. [Member] | ||
Business Acquisition, Contingent Consideration [Line Items] | ||
Earn-out period | 5 years | |
Maximum Remaining Earn-out Potential | 50,000,000 | |
Payments made under acquisition related contingent obligations | 0 | |
DiagnosisOne, Inc. [Member] | ||
Business Acquisition, Contingent Consideration [Line Items] | ||
Contingent consideration obligation, amount outstanding | 1,500,000 | |
Maximum Remaining Earn-out Potential | 0 | |
Contingent consideration remaining earn-out settlement | 6,000,000 | |
Payments made under acquisition related contingent obligations | 4,450,000 | 4,500,000 |
Selling, General and Administrative Expenses [Member] | DiagnosisOne, Inc. [Member] | ||
Business Acquisition, Contingent Consideration [Line Items] | ||
Maximum Remaining Earn-out Potential | $15,000,000 |
Equity_Investments_Additional_
Equity Investments - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Schedule of Equity Method Investments [Line Items] | ||
Equity earnings of unconsolidated entities, net of tax | $3,959 | $5,352 |
SPD [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity earnings of unconsolidated entities, net of tax | 3,600 | 5,100 |
Ownership percentage | 50.00% | |
TechLab [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity earnings of unconsolidated entities, net of tax | $400 | $300 |
Ownership percentage | 49.00% |
Equity_Investments_Financial_I
Equity Investments - Financial Information for SPD and TechLab on Combined Condensed Results of Operations (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Equity Method Investments and Joint Ventures [Abstract] | ||
Net revenue | $47,857 | $48,933 |
Gross profit | 33,271 | 42,980 |
Net income after taxes | $8,057 | $10,830 |
Equity_Investments_Financial_I1
Equity Investments - Financial Information for SPD and TechLab on Combined Condensed Balance Sheet (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Equity Method Investments and Joint Ventures [Abstract] | ||
Current assets | $90,482 | $90,546 |
Non-current assets | 32,774 | 33,697 |
Total assets | 123,256 | 124,243 |
Current liabilities | 31,455 | 35,954 |
Non-current liabilities | 6,145 | 5,884 |
Total liabilities | $37,600 | $41,838 |
Impairment_and_Gain_Loss_on_Di
Impairment and (Gain) Loss on Dispositions, Net - Additional Information (Detail) | 3 Months Ended | ||||||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | |
USD ($) | USD ($) | Adna Gen Gmbh [Member] | Gesellschaft fur Patientenhilfe DGP mbH [Member] | Gesellschaft fur Patientenhilfe DGP mbH [Member] | Alere Analytics [Member] | Alere Connect Llc [Member] | |
USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Proceeds from sale of assets | $4,600,000 | ||||||
Gain from sale of assets | 300,000 | ||||||
Cash proceeds from sale of business | 581,185,000 | 4,373,000 | 8,200,000 | 7,600,000 | |||
Loss on sale of disposal of group | -7,600,000 | ||||||
Impairment charge | 26,700,000 | 700,000 | |||||
Write-off of intangible assets | 26,200,000 | ||||||
Write-off of fixed assets | $500,000 |
Benefit_for_Income_Taxes_Addit
Benefit for Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ||
Increase in income tax benefit | $7,100,000 | |
Benefit for income taxes | ($8,786,000) | ($1,680,000) |
Effective tax rate | 43.00% | 17.00% |
Guarantor_Financial_Informatio2
Guarantor Financial Information - Additional Information (Detail) | 3 Months Ended | ||
Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Guarantor Subsidiaries [Member] | |||
Debt Instrument [Line Items] | |||
Ownership percentage | 100.00% | ||
7.25% Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate of debt instrument | 7.25% | 7.25% | 7.25% |
Maturity year of debt instrument | 2018 | ||
8.625% Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate of debt instrument | 8.63% | 8.63% | 8.63% |
Maturity year of debt instrument | 2018 | ||
6.5% Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate of debt instrument | 6.50% | 6.50% | 6.50% |
Maturity year of debt instrument | 2020 |
Guarantor_Financial_Informatio3
Guarantor Financial Information - Guarantor Financial Information Consolidating Statement of Operations (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Condensed Financial Statements, Captions [Line Items] | ||
Net product sales | $479,599 | $491,319 |
Services revenue | 123,856 | 128,708 |
Net product sales and services revenue | 603,455 | 620,027 |
License and royalty revenue | 4,698 | 5,212 |
Net revenue | 608,153 | 625,239 |
Cost of net product sales | 238,637 | 242,981 |
Cost of services revenue | 75,581 | 70,361 |
Cost of net product sales and services revenue | 314,218 | 313,342 |
Cost of license and royalty revenue | 1,950 | 1,539 |
Cost of net revenue | 316,168 | 314,881 |
Gross profit (loss) | 291,985 | 310,358 |
Operating expenses: | ||
Research and development | 28,016 | 38,699 |
Sales and marketing | 109,079 | 133,044 |
General and administrative | 92,691 | 103,619 |
Impairment and (gain) loss on dispositions, net | 34,792 | 0 |
Operating income (loss) | 27,407 | 34,996 |
Interest expense, including amortization of original issue discounts and deferred financing costs | -46,431 | -51,910 |
Other income (expense), net | -1,270 | 7,032 |
Income (loss) before provision (benefit) for income taxes | -20,294 | -9,882 |
Provision (benefit) for income taxes | -8,786 | -1,680 |
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | -11,508 | -8,202 |
Equity in earnings of subsidiaries, net of tax | 0 | 0 |
Equity earnings of unconsolidated entities, net of tax | 3,959 | 5,352 |
Income (loss) from continuing operations | -7,549 | -2,850 |
Income (loss) from discontinued operations, net of tax | 216,777 | -2,596 |
Net income (loss) | 209,228 | -5,446 |
Less: Net income (loss) attributable to non-controlling interests | 88 | 108 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | 209,140 | -5,554 |
Preferred stock dividends | -5,250 | -5,250 |
Net income (loss) available to common stockholders | 203,890 | -10,804 |
Issuer [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net product sales | 0 | 0 |
Services revenue | 0 | 0 |
Net product sales and services revenue | 0 | 0 |
License and royalty revenue | 0 | 0 |
Net revenue | 0 | 0 |
Cost of net product sales | 416 | 688 |
Cost of services revenue | 50 | 73 |
Cost of net product sales and services revenue | 466 | 761 |
Cost of license and royalty revenue | -40 | 0 |
Cost of net revenue | 426 | 761 |
Gross profit (loss) | -426 | -761 |
Operating expenses: | ||
Research and development | 2,302 | 5,615 |
Sales and marketing | 1,260 | 1,868 |
General and administrative | 20,523 | 18,756 |
Impairment and (gain) loss on dispositions, net | 36,523 | |
Operating income (loss) | -61,034 | -27,000 |
Interest expense, including amortization of original issue discounts and deferred financing costs | -46,098 | -51,258 |
Other income (expense), net | 3,647 | 4,694 |
Income (loss) before provision (benefit) for income taxes | -103,485 | -73,564 |
Provision (benefit) for income taxes | -20,667 | -32,316 |
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | -82,818 | -41,248 |
Equity in earnings of subsidiaries, net of tax | 72,933 | 35,069 |
Equity earnings of unconsolidated entities, net of tax | 424 | 405 |
Income (loss) from continuing operations | -9,461 | -5,774 |
Income (loss) from discontinued operations, net of tax | 218,689 | 328 |
Net income (loss) | 209,228 | -5,446 |
Less: Net income (loss) attributable to non-controlling interests | 0 | 0 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | 209,228 | -5,446 |
Preferred stock dividends | -5,250 | -5,250 |
Net income (loss) available to common stockholders | 203,978 | -10,696 |
Guarantor Subsidiaries [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net product sales | 217,208 | 209,284 |
Services revenue | 108,057 | 110,651 |
Net product sales and services revenue | 325,265 | 319,935 |
License and royalty revenue | 3,197 | 3,484 |
Net revenue | 328,462 | 323,419 |
Cost of net product sales | 113,191 | 111,018 |
Cost of services revenue | 74,037 | 67,708 |
Cost of net product sales and services revenue | 187,228 | 178,726 |
Cost of license and royalty revenue | 808 | 92 |
Cost of net revenue | 188,036 | 178,818 |
Gross profit (loss) | 140,426 | 144,601 |
Operating expenses: | ||
Research and development | 14,919 | 14,845 |
Sales and marketing | 53,227 | 60,939 |
General and administrative | 37,770 | 36,069 |
Impairment and (gain) loss on dispositions, net | 30,608 | |
Operating income (loss) | 3,902 | 32,748 |
Interest expense, including amortization of original issue discounts and deferred financing costs | -3,285 | -5,494 |
Other income (expense), net | 4,299 | 5,959 |
Income (loss) before provision (benefit) for income taxes | 4,916 | 33,213 |
Provision (benefit) for income taxes | 1,820 | 20,619 |
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | 3,096 | 12,594 |
Equity in earnings of subsidiaries, net of tax | 0 | 68 |
Equity earnings of unconsolidated entities, net of tax | 0 | 0 |
Income (loss) from continuing operations | 3,096 | 12,662 |
Income (loss) from discontinued operations, net of tax | -1,912 | -3,759 |
Net income (loss) | 1,184 | 8,903 |
Less: Net income (loss) attributable to non-controlling interests | 0 | 0 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | 1,184 | 8,903 |
Preferred stock dividends | 0 | 0 |
Net income (loss) available to common stockholders | 1,184 | 8,903 |
Non-Guarantor Subsidiaries [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net product sales | 323,197 | 335,738 |
Services revenue | 15,799 | 18,057 |
Net product sales and services revenue | 338,996 | 353,795 |
License and royalty revenue | 4,363 | 5,019 |
Net revenue | 343,359 | 358,814 |
Cost of net product sales | 180,046 | 183,760 |
Cost of services revenue | 8,395 | 8,001 |
Cost of net product sales and services revenue | 188,441 | 191,761 |
Cost of license and royalty revenue | 4,044 | 4,738 |
Cost of net revenue | 192,485 | 196,499 |
Gross profit (loss) | 150,874 | 162,315 |
Operating expenses: | ||
Research and development | 10,795 | 18,239 |
Sales and marketing | 54,592 | 70,237 |
General and administrative | 34,398 | 48,794 |
Impairment and (gain) loss on dispositions, net | -32,339 | |
Operating income (loss) | 83,428 | 25,045 |
Interest expense, including amortization of original issue discounts and deferred financing costs | -4,043 | -4,544 |
Other income (expense), net | -2,221 | 5,823 |
Income (loss) before provision (benefit) for income taxes | 77,164 | 26,324 |
Provision (benefit) for income taxes | 9,715 | 8,559 |
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | 67,449 | 17,765 |
Equity in earnings of subsidiaries, net of tax | 0 | 0 |
Equity earnings of unconsolidated entities, net of tax | 3,568 | 5,064 |
Income (loss) from continuing operations | 71,017 | 22,829 |
Income (loss) from discontinued operations, net of tax | 0 | 835 |
Net income (loss) | 71,017 | 23,664 |
Less: Net income (loss) attributable to non-controlling interests | 88 | 108 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | 70,929 | 23,556 |
Preferred stock dividends | 0 | 0 |
Net income (loss) available to common stockholders | 70,929 | 23,556 |
Eliminations [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net product sales | -60,806 | -53,703 |
Services revenue | 0 | 0 |
Net product sales and services revenue | -60,806 | -53,703 |
License and royalty revenue | -2,862 | -3,291 |
Net revenue | -63,668 | -56,994 |
Cost of net product sales | -55,016 | -52,485 |
Cost of services revenue | -6,901 | -5,421 |
Cost of net product sales and services revenue | -61,917 | -57,906 |
Cost of license and royalty revenue | -2,862 | -3,291 |
Cost of net revenue | -64,779 | -61,197 |
Gross profit (loss) | 1,111 | 4,203 |
Operating expenses: | ||
Research and development | 0 | 0 |
Sales and marketing | 0 | 0 |
General and administrative | 0 | 0 |
Impairment and (gain) loss on dispositions, net | 0 | |
Operating income (loss) | 1,111 | 4,203 |
Interest expense, including amortization of original issue discounts and deferred financing costs | 6,995 | 9,386 |
Other income (expense), net | -6,995 | -9,444 |
Income (loss) before provision (benefit) for income taxes | 1,111 | 4,145 |
Provision (benefit) for income taxes | 346 | 1,458 |
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | 765 | 2,687 |
Equity in earnings of subsidiaries, net of tax | -72,933 | -35,137 |
Equity earnings of unconsolidated entities, net of tax | -33 | -117 |
Income (loss) from continuing operations | -72,201 | -32,567 |
Income (loss) from discontinued operations, net of tax | 0 | 0 |
Net income (loss) | -72,201 | -32,567 |
Less: Net income (loss) attributable to non-controlling interests | 0 | 0 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | -72,201 | -32,567 |
Preferred stock dividends | 0 | 0 |
Net income (loss) available to common stockholders | ($72,201) | ($32,567) |
Guarantor_Financial_Informatio4
Guarantor Financial Information - Guarantor Financial Information Consolidating Statement of Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | $209,228 | ($5,446) |
Other comprehensive income (loss), before tax: | ||
Changes in cumulative translation adjustment | -80,342 | -11,340 |
Unrealized losses on available for sale securities | 0 | -17 |
Unrealized gains on hedging instruments | 0 | 8 |
Minimum pension liability adjustment | -1,382 | 74 |
Other comprehensive income (loss), before tax | -81,724 | -11,275 |
Income tax benefit related to items of other comprehensive income (loss) | 0 | 0 |
Other comprehensive income (loss), net of tax | -81,724 | -11,275 |
Comprehensive income (loss) | 127,504 | -16,721 |
Less: Comprehensive income (loss) attributable to non-controlling interests | 88 | 108 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | 127,416 | -16,829 |
Issuer [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | 209,228 | -5,446 |
Other comprehensive income (loss), before tax: | ||
Changes in cumulative translation adjustment | -657 | 157 |
Unrealized losses on available for sale securities | 0 | |
Unrealized gains on hedging instruments | 0 | |
Minimum pension liability adjustment | 0 | 0 |
Other comprehensive income (loss), before tax | -657 | 157 |
Income tax benefit related to items of other comprehensive income (loss) | 0 | 0 |
Other comprehensive income (loss), net of tax | -657 | 157 |
Comprehensive income (loss) | 208,571 | -5,289 |
Less: Comprehensive income (loss) attributable to non-controlling interests | 0 | 0 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | 208,571 | -5,289 |
Guarantor Subsidiaries [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | 1,184 | 8,903 |
Other comprehensive income (loss), before tax: | ||
Changes in cumulative translation adjustment | -572 | -129 |
Unrealized losses on available for sale securities | -17 | |
Unrealized gains on hedging instruments | 0 | |
Minimum pension liability adjustment | 0 | 0 |
Other comprehensive income (loss), before tax | -572 | -146 |
Income tax benefit related to items of other comprehensive income (loss) | 0 | 0 |
Other comprehensive income (loss), net of tax | -572 | -146 |
Comprehensive income (loss) | 612 | 8,757 |
Less: Comprehensive income (loss) attributable to non-controlling interests | 0 | 0 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | 612 | 8,757 |
Non-Guarantor Subsidiaries [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | 71,017 | 23,664 |
Other comprehensive income (loss), before tax: | ||
Changes in cumulative translation adjustment | -79,113 | -11,368 |
Unrealized losses on available for sale securities | 0 | |
Unrealized gains on hedging instruments | 8 | |
Minimum pension liability adjustment | -1,382 | 74 |
Other comprehensive income (loss), before tax | -80,495 | -11,286 |
Income tax benefit related to items of other comprehensive income (loss) | 0 | 0 |
Other comprehensive income (loss), net of tax | -80,495 | -11,286 |
Comprehensive income (loss) | -9,478 | 12,378 |
Less: Comprehensive income (loss) attributable to non-controlling interests | 88 | 108 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | -9,566 | 12,270 |
Eliminations [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | -72,201 | -32,567 |
Other comprehensive income (loss), before tax: | ||
Changes in cumulative translation adjustment | 0 | 0 |
Unrealized losses on available for sale securities | 0 | |
Unrealized gains on hedging instruments | 0 | |
Minimum pension liability adjustment | 0 | 0 |
Other comprehensive income (loss), before tax | 0 | 0 |
Income tax benefit related to items of other comprehensive income (loss) | 0 | 0 |
Other comprehensive income (loss), net of tax | 0 | 0 |
Comprehensive income (loss) | -72,201 | -32,567 |
Less: Comprehensive income (loss) attributable to non-controlling interests | 0 | 0 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | ($72,201) | ($32,567) |
Guarantor_Financial_Informatio5
Guarantor Financial Information - Guarantor Financial Information Consolidating Balance Sheet (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Current assets: | ||||
Cash and cash equivalents | $414,495 | $378,461 | $425,066 | $355,431 |
Restricted cash | 37,406 | 37,571 | ||
Marketable securities | 173 | 259 | ||
Accounts receivable, net of allowances | 471,663 | 466,106 | ||
Inventories, net | 374,973 | 365,165 | ||
Deferred tax assets | 22,614 | 112,573 | ||
Prepaid expenses and other current assets | 117,924 | 132,413 | 2,678 | |
Assets held for sale | 0 | 315,515 | ||
Intercompany receivables | 0 | 0 | ||
Total current assets | 1,439,248 | 1,808,063 | ||
Property, plant and equipment, net | 446,705 | 453,570 | ||
Goodwill | 2,880,164 | 2,926,666 | ||
Other intangible assets with indefinite lives | 40,203 | 43,651 | ||
Finite-lived intangible assets, net | 1,173,866 | 1,276,444 | ||
Deferred financing costs, net and other non-current assets | 61,477 | 67,832 | ||
Investments in subsidiaries | 0 | 0 | ||
Investments in unconsolidated entities | 95,551 | 91,693 | ||
Deferred tax assets | 8,612 | 8,569 | ||
Non-current income tax receivable | 2,545 | 2,468 | ||
Intercompany notes receivables | 0 | 0 | ||
Total assets | 6,148,371 | 6,678,956 | ||
Current liabilities: | ||||
Short-term debt and current portion of long-term debt | 95,299 | 88,875 | ||
Current portion of capital lease obligations | 5,072 | 4,241 | ||
Accounts payable | 195,980 | 213,592 | ||
Accrued expenses and other current liabilities | 364,892 | 375,494 | ||
Liabilities related to assets held for sale | 0 | 78,843 | ||
Intercompany payables | 0 | 0 | ||
Total current liabilities | 661,243 | 761,045 | ||
Long-term liabilities: | ||||
Long-term debt, net of current portion | 3,023,847 | 3,621,385 | ||
Capital lease obligations, net of current portion | 7,747 | 10,560 | ||
Deferred tax liabilities | 245,863 | 214,639 | ||
Other long-term liabilities | 138,090 | 161,582 | ||
Intercompany notes payables | 0 | 0 | ||
Total long-term liabilities | 3,415,547 | 4,008,166 | ||
Stockholders' equity | 2,067,347 | 1,905,599 | ||
Non-controlling interests | 4,234 | 4,146 | ||
Total equity | 2,071,581 | 1,909,745 | 2,076,513 | 2,078,138 |
Total liabilities and equity | 6,148,371 | 6,678,956 | ||
Issuer [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 13,827 | 2,149 | 13,020 | 14,801 |
Restricted cash | 3,094 | 5,012 | ||
Marketable securities | 0 | 0 | ||
Accounts receivable, net of allowances | 0 | 0 | ||
Inventories, net | 0 | 0 | ||
Deferred tax assets | -37,763 | 36,347 | ||
Prepaid expenses and other current assets | 24,096 | 9,800 | ||
Assets held for sale | 0 | 1,361 | ||
Intercompany receivables | 614,397 | 404,990 | ||
Total current assets | 617,651 | 459,659 | ||
Property, plant and equipment, net | 27,988 | 30,547 | ||
Goodwill | 0 | 0 | ||
Other intangible assets with indefinite lives | 0 | 0 | ||
Finite-lived intangible assets, net | 5,649 | 6,104 | ||
Deferred financing costs, net and other non-current assets | 36,867 | 40,992 | ||
Investments in subsidiaries | 3,235,062 | 3,740,004 | ||
Investments in unconsolidated entities | 14,677 | 13,987 | ||
Deferred tax assets | 0 | 0 | ||
Non-current income tax receivable | 2,545 | 2,468 | ||
Intercompany notes receivables | 2,040,842 | 2,028,701 | ||
Total assets | 5,981,281 | 6,322,462 | ||
Current liabilities: | ||||
Short-term debt and current portion of long-term debt | 68,711 | 61,700 | ||
Current portion of capital lease obligations | 0 | 0 | ||
Accounts payable | 13,811 | 21,402 | ||
Accrued expenses and other current liabilities | -481,993 | -536,286 | ||
Liabilities related to assets held for sale | 1,094 | |||
Intercompany payables | 794,586 | 902,576 | ||
Total current liabilities | 395,115 | 450,486 | ||
Long-term liabilities: | ||||
Long-term debt, net of current portion | 3,018,829 | 3,615,759 | ||
Capital lease obligations, net of current portion | 0 | 0 | ||
Deferred tax liabilities | -37,773 | -107,844 | ||
Other long-term liabilities | 41,796 | 42,762 | ||
Intercompany notes payables | 495,967 | 415,700 | ||
Total long-term liabilities | 3,518,819 | 3,966,377 | ||
Stockholders' equity | 2,067,347 | 1,905,599 | ||
Non-controlling interests | 0 | 0 | ||
Total equity | 2,067,347 | 1,905,599 | ||
Total liabilities and equity | 5,981,281 | 6,322,462 | ||
Guarantor Subsidiaries [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 87,557 | 69,154 | 74,088 | 78,976 |
Restricted cash | 0 | 0 | ||
Marketable securities | 173 | 259 | ||
Accounts receivable, net of allowances | 190,217 | 192,775 | ||
Inventories, net | 194,768 | 191,323 | ||
Deferred tax assets | 29,263 | 44,961 | ||
Prepaid expenses and other current assets | 18,365 | 31,410 | ||
Assets held for sale | 0 | 284,369 | ||
Intercompany receivables | 629,354 | 888,688 | ||
Total current assets | 1,149,697 | 1,702,939 | ||
Property, plant and equipment, net | 222,584 | 218,613 | ||
Goodwill | 1,790,956 | 1,795,663 | ||
Other intangible assets with indefinite lives | 8,139 | 9,287 | ||
Finite-lived intangible assets, net | 688,605 | 742,760 | ||
Deferred financing costs, net and other non-current assets | 4,870 | 5,334 | ||
Investments in subsidiaries | 179,176 | 179,315 | ||
Investments in unconsolidated entities | 14,765 | 14,765 | ||
Deferred tax assets | 0 | 0 | ||
Non-current income tax receivable | 0 | 0 | ||
Intercompany notes receivables | 713,417 | 649,444 | ||
Total assets | 4,772,209 | 5,318,120 | ||
Current liabilities: | ||||
Short-term debt and current portion of long-term debt | 0 | 2 | ||
Current portion of capital lease obligations | 2,185 | 1,045 | ||
Accounts payable | 81,095 | 81,741 | ||
Accrued expenses and other current liabilities | 615,859 | 663,221 | ||
Liabilities related to assets held for sale | 77,749 | |||
Intercompany payables | 255,402 | 198,788 | ||
Total current liabilities | 954,541 | 1,022,546 | ||
Long-term liabilities: | ||||
Long-term debt, net of current portion | 0 | 0 | ||
Capital lease obligations, net of current portion | 2,330 | 4,097 | ||
Deferred tax liabilities | 217,479 | 252,944 | ||
Other long-term liabilities | 46,019 | 46,865 | ||
Intercompany notes payables | 1,258,851 | 1,276,245 | ||
Total long-term liabilities | 1,524,679 | 1,580,151 | ||
Stockholders' equity | 2,292,989 | 2,715,423 | ||
Non-controlling interests | 0 | 0 | ||
Total equity | 2,292,989 | 2,715,423 | ||
Total liabilities and equity | 4,772,209 | 5,318,120 | ||
Non-Guarantor Subsidiaries [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 313,111 | 307,158 | 337,958 | 261,654 |
Restricted cash | 34,312 | 32,559 | ||
Marketable securities | 0 | 0 | ||
Accounts receivable, net of allowances | 281,446 | 273,331 | ||
Inventories, net | 200,614 | 195,606 | ||
Deferred tax assets | 31,114 | 31,265 | ||
Prepaid expenses and other current assets | 70,838 | 88,695 | ||
Assets held for sale | 0 | 29,785 | ||
Intercompany receivables | 44,793 | 55,923 | ||
Total current assets | 976,228 | 1,014,322 | ||
Property, plant and equipment, net | 196,114 | 204,188 | ||
Goodwill | 1,089,208 | 1,131,003 | ||
Other intangible assets with indefinite lives | 32,123 | 34,422 | ||
Finite-lived intangible assets, net | 479,612 | 527,580 | ||
Deferred financing costs, net and other non-current assets | 19,825 | 21,541 | ||
Investments in subsidiaries | 58,132 | 58,067 | ||
Investments in unconsolidated entities | 52,853 | 49,608 | ||
Deferred tax assets | 8,612 | 8,569 | ||
Non-current income tax receivable | 0 | 0 | ||
Intercompany notes receivables | 46,976 | 46,676 | ||
Total assets | 2,959,683 | 3,095,976 | ||
Current liabilities: | ||||
Short-term debt and current portion of long-term debt | 26,588 | 27,173 | ||
Current portion of capital lease obligations | 2,887 | 3,196 | ||
Accounts payable | 101,074 | 110,449 | ||
Accrued expenses and other current liabilities | 228,532 | 248,604 | ||
Liabilities related to assets held for sale | 0 | |||
Intercompany payables | 238,558 | 248,237 | ||
Total current liabilities | 597,639 | 637,659 | ||
Long-term liabilities: | ||||
Long-term debt, net of current portion | 5,018 | 5,626 | ||
Capital lease obligations, net of current portion | 5,417 | 6,463 | ||
Deferred tax liabilities | 66,150 | 69,457 | ||
Other long-term liabilities | 50,360 | 71,988 | ||
Intercompany notes payables | 1,046,416 | 1,032,876 | ||
Total long-term liabilities | 1,173,361 | 1,186,410 | ||
Stockholders' equity | 1,184,449 | 1,267,761 | ||
Non-controlling interests | 4,234 | 4,146 | ||
Total equity | 1,188,683 | 1,271,907 | ||
Total liabilities and equity | 2,959,683 | 3,095,976 | ||
Eliminations [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Restricted cash | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Accounts receivable, net of allowances | 0 | 0 | ||
Inventories, net | -20,409 | -21,764 | ||
Deferred tax assets | 0 | 0 | ||
Prepaid expenses and other current assets | 4,625 | 2,508 | ||
Assets held for sale | 0 | 0 | ||
Intercompany receivables | -1,288,544 | -1,349,601 | ||
Total current assets | -1,304,328 | -1,368,857 | ||
Property, plant and equipment, net | 19 | 222 | ||
Goodwill | 0 | 0 | ||
Other intangible assets with indefinite lives | -59 | -58 | ||
Finite-lived intangible assets, net | 0 | 0 | ||
Deferred financing costs, net and other non-current assets | -85 | -35 | ||
Investments in subsidiaries | -3,472,370 | -3,977,386 | ||
Investments in unconsolidated entities | 13,256 | 13,333 | ||
Deferred tax assets | 0 | 0 | ||
Non-current income tax receivable | 0 | 0 | ||
Intercompany notes receivables | -2,801,235 | -2,724,821 | ||
Total assets | -7,564,802 | -8,057,602 | ||
Current liabilities: | ||||
Short-term debt and current portion of long-term debt | 0 | 0 | ||
Current portion of capital lease obligations | 0 | 0 | ||
Accounts payable | 0 | 0 | ||
Accrued expenses and other current liabilities | 2,494 | -45 | ||
Liabilities related to assets held for sale | 0 | |||
Intercompany payables | -1,288,546 | -1,349,601 | ||
Total current liabilities | -1,286,052 | -1,349,646 | ||
Long-term liabilities: | ||||
Long-term debt, net of current portion | 0 | 0 | ||
Capital lease obligations, net of current portion | 0 | 0 | ||
Deferred tax liabilities | 7 | 82 | ||
Other long-term liabilities | -85 | -33 | ||
Intercompany notes payables | -2,801,234 | -2,724,821 | ||
Total long-term liabilities | -2,801,312 | -2,724,772 | ||
Stockholders' equity | -3,477,438 | -3,983,184 | ||
Non-controlling interests | 0 | 0 | ||
Total equity | -3,477,438 | -3,983,184 | ||
Total liabilities and equity | ($7,564,802) | ($8,057,602) |
Guarantor_Financial_Informatio6
Guarantor Financial Information - Guarantor Financial Information Consolidating Statement of Cash Flows (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash Flows from Operating Activities: | ||
Net income (loss) | $209,228 | ($5,446) |
Income (loss) from discontinued operations, net of tax | 216,777 | -2,596 |
Income (loss) from continuing operations | -7,549 | -2,850 |
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | ||
Tax benefit related to discontinued operations | 0 | 1,211 |
Equity in earnings of subsidiaries, net of tax | 0 | 0 |
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 3,946 | 4,028 |
Depreciation and amortization | 74,368 | 83,820 |
Non-cash stock-based compensation expense | 5,149 | 5,704 |
Impairment of inventory | 78 | 589 |
Impairment of long-lived assets | -69 | 161 |
Loss on disposition of fixed assets | 1,391 | 1,527 |
Equity earnings of unconsolidated entities, net of tax | -3,959 | -5,352 |
Deferred income taxes | -20,349 | -19,099 |
Impairment and (gain) loss on dispositions, net | 34,792 | 0 |
Other non-cash items | 5,923 | -2,804 |
Changes in assets and liabilities, net of acquisitions: | ||
Accounts receivable, net | -16,881 | 25,146 |
Inventories, net | -31,168 | -12,705 |
Prepaid expenses and other current assets | 18,980 | 2,678 |
Accounts payable | -18,648 | 3,551 |
Accrued expenses and other current liabilities | 6,827 | 6,826 |
Other non-current liabilities | -21,117 | 10,391 |
Cash paid for contingent consideration | -3,654 | -3,475 |
Intercompany payable (receivable) | 0 | 0 |
Net cash provided by continuing operations | 28,060 | 99,347 |
Net cash provided by discontinued operations | 318 | 6,550 |
Net cash provided by (used in) operating activities | 28,378 | 105,897 |
Cash Flows from Investing Activities: | ||
(Increase) decrease in restricted cash | 71 | 2,151 |
Purchases of property, plant and equipment | -25,647 | -24,831 |
Proceeds from sale of property, plant and equipment | 808 | 128 |
Cash received from (used in) disposition, net of cash divested | 581,185 | 4,373 |
Cash received from sales of marketable securities | 86 | 60 |
Cash paid for equity method investments | 0 | -507 |
Increase (decrease) in other assets | 913 | -1,617 |
Net cash provided by (used in) continuing operations | 557,416 | -20,243 |
Net cash used in discontinued operations | -209 | -4,005 |
Net cash provided by (used in) investing activities | 557,207 | -24,248 |
Cash Flows from Financing Activities: | ||
Cash paid for financing costs | -59 | -7 |
Cash paid for contingent purchase price consideration | -4,696 | -4,045 |
Proceeds from issuance of common stock, net of issuance costs | 34,632 | 14,698 |
Proceeds from issuance of long-term debt | 15 | 0 |
Payments on short-term debt | -321 | 0 |
Payments on long-term debt | -463,011 | -15,562 |
Net proceeds (payments) under revolving credit facilities | -127,050 | 233 |
Cash paid for dividends | -5,323 | -5,323 |
Excess tax benefits on exercised stock options | 649 | 292 |
Principal payments on capital lease obligations | -1,484 | -1,620 |
Net cash used in continuing operations | -566,648 | -11,334 |
Net cash provided by (used in) discontinued operations | -76 | 308 |
Net cash provided by (used in) financing activities | -566,724 | -11,026 |
Foreign exchange effect on cash and cash equivalents | -6,127 | 495 |
Net increase (decrease) in cash and cash equivalents | 12,734 | 71,118 |
Cash and cash equivalents, beginning of period - continuing operations | 378,461 | 355,431 |
Cash and cash equivalents, beginning of period - discontinued operations | 23,300 | 6,476 |
Cash and cash equivalents, end of period | 414,495 | 433,025 |
Less: Cash and cash equivalents of discontinued operations, end of period | 0 | 7,959 |
Cash and cash equivalents of continuing operations, end of period | 414,495 | 425,066 |
Issuer [Member] | ||
Cash Flows from Operating Activities: | ||
Net income (loss) | 209,228 | -5,446 |
Income (loss) from discontinued operations, net of tax | 218,689 | 328 |
Income (loss) from continuing operations | -9,461 | -5,774 |
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | ||
Tax benefit related to discontinued operations | 0 | |
Equity in earnings of subsidiaries, net of tax | -72,933 | -35,069 |
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 3,917 | 3,857 |
Depreciation and amortization | 1,650 | 1,399 |
Non-cash stock-based compensation expense | 2,435 | 2,407 |
Impairment of inventory | 0 | 0 |
Impairment of long-lived assets | 0 | 0 |
Loss on disposition of fixed assets | 0 | 0 |
Equity earnings of unconsolidated entities, net of tax | -424 | -405 |
Deferred income taxes | 9 | -19,028 |
Impairment and (gain) loss on dispositions, net | 36,523 | |
Other non-cash items | 1,686 | 0 |
Changes in assets and liabilities, net of acquisitions: | ||
Accounts receivable, net | 0 | 0 |
Inventories, net | 0 | 0 |
Prepaid expenses and other current assets | -4,680 | -26,287 |
Accounts payable | -7,637 | -4,305 |
Accrued expenses and other current liabilities | -1,531 | 22,109 |
Other non-current liabilities | -5,980 | 9,099 |
Cash paid for contingent consideration | -3,641 | -3,417 |
Intercompany payable (receivable) | 49,312 | 67,749 |
Net cash provided by continuing operations | -10,755 | 12,335 |
Net cash provided by discontinued operations | 0 | 0 |
Net cash provided by (used in) operating activities | -10,755 | 12,335 |
Cash Flows from Investing Activities: | ||
(Increase) decrease in restricted cash | 1,919 | 2,125 |
Purchases of property, plant and equipment | -3,274 | -6,055 |
Proceeds from sale of property, plant and equipment | 0 | 269 |
Cash received from (used in) disposition, net of cash divested | 587,637 | 0 |
Cash received from sales of marketable securities | 0 | 0 |
Cash paid for equity method investments | -504 | |
Increase (decrease) in other assets | 348 | -311 |
Net cash provided by (used in) continuing operations | 586,630 | -4,476 |
Net cash used in discontinued operations | 0 | 0 |
Net cash provided by (used in) investing activities | 586,630 | -4,476 |
Cash Flows from Financing Activities: | ||
Cash paid for financing costs | -59 | -7 |
Cash paid for contingent purchase price consideration | -3,953 | -3,922 |
Proceeds from issuance of common stock, net of issuance costs | 34,632 | 14,698 |
Proceeds from issuance of long-term debt | 0 | |
Payments on short-term debt | 0 | |
Payments on long-term debt | -463,000 | -15,000 |
Net proceeds (payments) under revolving credit facilities | -127,000 | 0 |
Cash paid for dividends | -5,323 | -5,323 |
Excess tax benefits on exercised stock options | 506 | 53 |
Principal payments on capital lease obligations | 0 | 0 |
Net cash used in continuing operations | -564,197 | -9,501 |
Net cash provided by (used in) discontinued operations | 0 | -150 |
Net cash provided by (used in) financing activities | -564,197 | -9,651 |
Foreign exchange effect on cash and cash equivalents | 0 | 11 |
Net increase (decrease) in cash and cash equivalents | 11,678 | -1,781 |
Cash and cash equivalents, beginning of period - continuing operations | 2,149 | 14,801 |
Cash and cash equivalents, beginning of period - discontinued operations | 0 | 0 |
Cash and cash equivalents, end of period | 13,020 | |
Less: Cash and cash equivalents of discontinued operations, end of period | 0 | |
Cash and cash equivalents of continuing operations, end of period | 13,827 | 13,020 |
Guarantor Subsidiaries [Member] | ||
Cash Flows from Operating Activities: | ||
Net income (loss) | 1,184 | 8,903 |
Income (loss) from discontinued operations, net of tax | -1,912 | -3,759 |
Income (loss) from continuing operations | 3,096 | 12,662 |
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | ||
Tax benefit related to discontinued operations | 1,737 | |
Equity in earnings of subsidiaries, net of tax | 0 | -68 |
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 7 | 12 |
Depreciation and amortization | 42,097 | 44,180 |
Non-cash stock-based compensation expense | 1,239 | 1,093 |
Impairment of inventory | 133 | 0 |
Impairment of long-lived assets | 28 | 0 |
Loss on disposition of fixed assets | 1,346 | 1,465 |
Equity earnings of unconsolidated entities, net of tax | 0 | 0 |
Deferred income taxes | -21,021 | 1,508 |
Impairment and (gain) loss on dispositions, net | 30,608 | |
Other non-cash items | -749 | 2,052 |
Changes in assets and liabilities, net of acquisitions: | ||
Accounts receivable, net | 2,558 | -6,573 |
Inventories, net | -13,803 | -8,536 |
Prepaid expenses and other current assets | 13,671 | 22,016 |
Accounts payable | -470 | 10,394 |
Accrued expenses and other current liabilities | 12,716 | -6,440 |
Other non-current liabilities | -197 | 1,158 |
Cash paid for contingent consideration | 0 | 0 |
Intercompany payable (receivable) | -57,097 | -70,945 |
Net cash provided by continuing operations | 14,162 | 5,715 |
Net cash provided by discontinued operations | 318 | 5,902 |
Net cash provided by (used in) operating activities | 14,480 | 11,617 |
Cash Flows from Investing Activities: | ||
(Increase) decrease in restricted cash | 0 | 0 |
Purchases of property, plant and equipment | -10,154 | -10,500 |
Proceeds from sale of property, plant and equipment | 0 | 663 |
Cash received from (used in) disposition, net of cash divested | -8,584 | 0 |
Cash received from sales of marketable securities | 86 | 60 |
Cash paid for equity method investments | 0 | |
Increase (decrease) in other assets | 362 | -877 |
Net cash provided by (used in) continuing operations | -18,290 | -10,654 |
Net cash used in discontinued operations | -209 | -4,005 |
Net cash provided by (used in) investing activities | -18,499 | -14,659 |
Cash Flows from Financing Activities: | ||
Cash paid for financing costs | 0 | 0 |
Cash paid for contingent purchase price consideration | 0 | 0 |
Proceeds from issuance of common stock, net of issuance costs | 0 | 0 |
Proceeds from issuance of long-term debt | 0 | |
Payments on short-term debt | 0 | |
Payments on long-term debt | 0 | -40 |
Net proceeds (payments) under revolving credit facilities | 0 | 0 |
Cash paid for dividends | 0 | 0 |
Excess tax benefits on exercised stock options | 32 | 207 |
Principal payments on capital lease obligations | -627 | -860 |
Net cash used in continuing operations | -595 | -693 |
Net cash provided by (used in) discontinued operations | -76 | 458 |
Net cash provided by (used in) financing activities | -671 | -235 |
Foreign exchange effect on cash and cash equivalents | -207 | -128 |
Net increase (decrease) in cash and cash equivalents | -4,897 | -3,405 |
Cash and cash equivalents, beginning of period - continuing operations | 69,154 | 78,976 |
Cash and cash equivalents, beginning of period - discontinued operations | 23,300 | 6,476 |
Cash and cash equivalents, end of period | 82,047 | |
Less: Cash and cash equivalents of discontinued operations, end of period | 7,959 | |
Cash and cash equivalents of continuing operations, end of period | 87,557 | 74,088 |
Non-Guarantor Subsidiaries [Member] | ||
Cash Flows from Operating Activities: | ||
Net income (loss) | 71,017 | 23,664 |
Income (loss) from discontinued operations, net of tax | 0 | 835 |
Income (loss) from continuing operations | 71,017 | 22,829 |
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | ||
Tax benefit related to discontinued operations | -526 | |
Equity in earnings of subsidiaries, net of tax | 0 | 0 |
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 22 | 159 |
Depreciation and amortization | 30,608 | 38,165 |
Non-cash stock-based compensation expense | 1,475 | 2,204 |
Impairment of inventory | -55 | 589 |
Impairment of long-lived assets | -97 | 161 |
Loss on disposition of fixed assets | 45 | 62 |
Equity earnings of unconsolidated entities, net of tax | -3,568 | -5,064 |
Deferred income taxes | 318 | -3,037 |
Impairment and (gain) loss on dispositions, net | -32,339 | |
Other non-cash items | 4,987 | -4,856 |
Changes in assets and liabilities, net of acquisitions: | ||
Accounts receivable, net | -19,439 | 31,719 |
Inventories, net | -16,052 | -105 |
Prepaid expenses and other current assets | 15,179 | 11,252 |
Accounts payable | -10,541 | -2,538 |
Accrued expenses and other current liabilities | -9,970 | -9,198 |
Other non-current liabilities | -14,467 | -3,820 |
Cash paid for contingent consideration | -13 | -58 |
Intercompany payable (receivable) | 7,784 | 3,196 |
Net cash provided by continuing operations | 24,894 | 81,134 |
Net cash provided by discontinued operations | 0 | 648 |
Net cash provided by (used in) operating activities | 24,894 | 81,782 |
Cash Flows from Investing Activities: | ||
(Increase) decrease in restricted cash | -1,848 | 26 |
Purchases of property, plant and equipment | -12,409 | -9,093 |
Proceeds from sale of property, plant and equipment | 808 | 112 |
Cash received from (used in) disposition, net of cash divested | 2,132 | 4,373 |
Cash received from sales of marketable securities | 0 | 0 |
Cash paid for equity method investments | -3 | |
Increase (decrease) in other assets | 152 | -482 |
Net cash provided by (used in) continuing operations | -11,165 | -5,067 |
Net cash used in discontinued operations | 0 | 0 |
Net cash provided by (used in) investing activities | -11,165 | -5,067 |
Cash Flows from Financing Activities: | ||
Cash paid for financing costs | 0 | 0 |
Cash paid for contingent purchase price consideration | -743 | -123 |
Proceeds from issuance of common stock, net of issuance costs | 0 | 0 |
Proceeds from issuance of long-term debt | 15 | |
Payments on short-term debt | -321 | |
Payments on long-term debt | -11 | -522 |
Net proceeds (payments) under revolving credit facilities | -50 | 233 |
Cash paid for dividends | 0 | 0 |
Excess tax benefits on exercised stock options | 111 | 32 |
Principal payments on capital lease obligations | -857 | -760 |
Net cash used in continuing operations | -1,856 | -1,140 |
Net cash provided by (used in) discontinued operations | 0 | 0 |
Net cash provided by (used in) financing activities | -1,856 | -1,140 |
Foreign exchange effect on cash and cash equivalents | -5,920 | 729 |
Net increase (decrease) in cash and cash equivalents | 5,953 | 76,304 |
Cash and cash equivalents, beginning of period - continuing operations | 307,158 | 261,654 |
Cash and cash equivalents, beginning of period - discontinued operations | 0 | 0 |
Cash and cash equivalents, end of period | 337,958 | |
Less: Cash and cash equivalents of discontinued operations, end of period | 0 | |
Cash and cash equivalents of continuing operations, end of period | 313,111 | 337,958 |
Eliminations [Member] | ||
Cash Flows from Operating Activities: | ||
Net income (loss) | -72,201 | -32,567 |
Income (loss) from discontinued operations, net of tax | 0 | 0 |
Income (loss) from continuing operations | -72,201 | -32,567 |
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | ||
Tax benefit related to discontinued operations | 0 | |
Equity in earnings of subsidiaries, net of tax | 72,933 | 35,137 |
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 0 | 0 |
Depreciation and amortization | 13 | 76 |
Non-cash stock-based compensation expense | 0 | 0 |
Impairment of inventory | 0 | 0 |
Impairment of long-lived assets | 0 | 0 |
Loss on disposition of fixed assets | 0 | 0 |
Equity earnings of unconsolidated entities, net of tax | 33 | 117 |
Deferred income taxes | 345 | 1,458 |
Impairment and (gain) loss on dispositions, net | 0 | |
Other non-cash items | -1 | 0 |
Changes in assets and liabilities, net of acquisitions: | ||
Accounts receivable, net | 0 | 0 |
Inventories, net | -1,313 | -4,064 |
Prepaid expenses and other current assets | -5,190 | -4,303 |
Accounts payable | 0 | 0 |
Accrued expenses and other current liabilities | 5,612 | 355 |
Other non-current liabilities | -473 | 3,954 |
Cash paid for contingent consideration | 0 | 0 |
Intercompany payable (receivable) | 1 | 0 |
Net cash provided by continuing operations | -241 | 163 |
Net cash provided by discontinued operations | 0 | 0 |
Net cash provided by (used in) operating activities | -241 | 163 |
Cash Flows from Investing Activities: | ||
(Increase) decrease in restricted cash | 0 | 0 |
Purchases of property, plant and equipment | 190 | 817 |
Proceeds from sale of property, plant and equipment | 0 | -916 |
Cash received from (used in) disposition, net of cash divested | 0 | 0 |
Cash received from sales of marketable securities | 0 | 0 |
Cash paid for equity method investments | 0 | |
Increase (decrease) in other assets | 51 | 53 |
Net cash provided by (used in) continuing operations | 241 | -46 |
Net cash used in discontinued operations | 0 | 0 |
Net cash provided by (used in) investing activities | 241 | -46 |
Cash Flows from Financing Activities: | ||
Cash paid for financing costs | 0 | 0 |
Cash paid for contingent purchase price consideration | 0 | 0 |
Proceeds from issuance of common stock, net of issuance costs | 0 | 0 |
Proceeds from issuance of long-term debt | 0 | |
Payments on short-term debt | 0 | |
Payments on long-term debt | 0 | 0 |
Net proceeds (payments) under revolving credit facilities | 0 | 0 |
Cash paid for dividends | 0 | 0 |
Excess tax benefits on exercised stock options | 0 | 0 |
Principal payments on capital lease obligations | 0 | 0 |
Net cash used in continuing operations | 0 | 0 |
Net cash provided by (used in) discontinued operations | 0 | 0 |
Net cash provided by (used in) financing activities | 0 | 0 |
Foreign exchange effect on cash and cash equivalents | 0 | -117 |
Net increase (decrease) in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents, beginning of period - continuing operations | 0 | 0 |
Cash and cash equivalents, beginning of period - discontinued operations | 0 | 0 |
Cash and cash equivalents, end of period | 0 | |
Less: Cash and cash equivalents of discontinued operations, end of period | 0 | |
Cash and cash equivalents of continuing operations, end of period | $0 | $0 |