Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Jul. 30, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | ALR | |
Entity Registrant Name | ALERE INC. | |
Entity Central Index Key | 1,145,460 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 85,728,535 |
Consolidated Statements of Oper
Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Income Statement [Abstract] | ||||
Net product sales | $ 496,834 | $ 500,358 | $ 976,433 | $ 991,677 |
Services revenue | 126,628 | 140,436 | 250,484 | 269,144 |
Net product sales and services revenue | 623,462 | 640,794 | 1,226,917 | 1,260,821 |
License and royalty revenue | 5,694 | 6,604 | 10,392 | 11,816 |
Net revenue | 629,156 | 647,398 | 1,237,309 | 1,272,637 |
Cost of net product sales | 258,485 | 271,687 | 497,122 | 514,668 |
Cost of services revenue | 76,753 | 75,893 | 152,334 | 146,254 |
Cost of net product sales and services revenue | 335,238 | 347,580 | 649,456 | 660,922 |
Cost of license and royalty revenue | 1,344 | 1,125 | 3,294 | 2,664 |
Cost of net revenue | 336,582 | 348,705 | 652,750 | 663,586 |
Gross profit (loss) | 292,574 | 298,693 | 584,559 | 609,051 |
Operating expenses: | ||||
Research and development | 27,198 | 37,430 | 55,214 | 76,129 |
Sales and marketing | 107,184 | 135,801 | 216,263 | 268,845 |
General and administrative | 60,813 | 130,573 | 153,504 | 234,192 |
Impairment and (gain) loss on dispositions, net | 5,542 | 638 | 40,334 | 638 |
Operating income (loss) | 91,837 | (5,749) | 119,244 | 29,247 |
Interest expense, including amortization of original issue discounts and deferred financing costs | (59,494) | (52,034) | (105,925) | (103,944) |
Other income (expense), net | 4,260 | 3,219 | 2,990 | 10,251 |
Income (loss) from continuing operations before provision for income taxes | 36,603 | (54,564) | 16,309 | (64,446) |
Provision for income taxes | 17,701 | 5,464 | 8,915 | 3,784 |
Income (loss) from continuing operations before equity earnings of unconsolidated entities, net of tax | 18,902 | (60,028) | 7,394 | (68,230) |
Equity earnings of unconsolidated entities, net of tax | 1,361 | 2,087 | 5,320 | 7,439 |
Income (loss) from continuing operations | 20,263 | (57,941) | 12,714 | (60,791) |
Income from discontinued operations, net of tax | 0 | 12,915 | 216,777 | 10,319 |
Net income (loss) | 20,263 | (45,026) | 229,491 | (50,472) |
Less: Net income attributable to non-controlling interests | 359 | 62 | 447 | 170 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | 19,904 | (45,088) | 229,044 | (50,642) |
Preferred stock dividends | (5,309) | (5,309) | (10,559) | (10,559) |
Net income (loss) available to common stockholders | $ 14,595 | $ (50,397) | $ 218,485 | $ (61,201) |
Basic net income (loss) per common share: | ||||
Income (loss) from continuing operations | $ 0.17 | $ (0.77) | $ 0.02 | $ (0.87) |
Income from discontinued operations | 0 | 0.16 | 2.56 | 0.13 |
Net income (loss) per common share | 0.17 | (0.61) | 2.58 | (0.74) |
Diluted net income (loss) per common share: | ||||
Income (loss) from continuing operations | 0.17 | (0.77) | 0.02 | (0.87) |
Income from discontinued operations | 0 | 0.16 | 2.52 | 0.13 |
Net income (loss) per common share | $ 0.17 | $ (0.61) | $ 2.54 | $ (0.74) |
Weighted-average shares - basic | 85,173 | 82,648 | 84,758 | 82,518 |
Weighted-average shares - diluted | 86,635 | 82,648 | 86,070 | 82,518 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income (loss) | $ 20,263 | $ (45,026) | $ 229,491 | $ (50,472) |
Other comprehensive income (loss), before tax: | ||||
Changes in cumulative translation adjustment | 46,726 | 37,815 | (33,616) | 26,475 |
Unrealized losses on available for sale securities | 0 | 0 | 0 | (17) |
Unrealized gains on hedging instruments | 0 | 6 | 0 | 14 |
Minimum pension liability adjustment | (374) | (87) | (1,756) | (13) |
Other comprehensive income (loss), before tax | 46,352 | 37,734 | (35,372) | 26,459 |
Income tax provision (benefit) related to items of other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | 46,352 | 37,734 | (35,372) | 26,459 |
Comprehensive income (loss) | 66,615 | (7,292) | 194,119 | (24,013) |
Less: Comprehensive income attributable to non-controlling interests | 359 | 62 | 447 | 170 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | $ 66,256 | $ (7,354) | $ 193,672 | $ (24,183) |
Consolidated Balance Sheets (un
Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $ 464,871 | $ 378,461 |
Restricted cash | 461,636 | 37,571 |
Marketable securities | 175 | 259 |
Accounts receivable, net of allowances of $87,231 and $76,163 at June 30, 2015 and December 31, 2014, respectively | 472,686 | 466,106 |
Inventories, net | 366,340 | 365,165 |
Deferred tax assets | 18,385 | 112,573 |
Prepaid expenses and other current assets | 125,559 | 132,413 |
Assets held for sale - current | 28,631 | 315,515 |
Total current assets | 1,938,283 | 1,808,063 |
Property, plant and equipment, net | 448,302 | 453,570 |
Goodwill | 2,853,551 | 2,926,666 |
Other intangible assets with indefinite lives | 41,306 | 43,651 |
Finite-lived intangible assets, net | 1,093,186 | 1,276,444 |
Deferred financing costs, net, and other non-current assets | 67,734 | 67,832 |
Investments in unconsolidated entities | 69,594 | 91,693 |
Deferred tax assets | 7,633 | 8,569 |
Non-current income tax receivable | 2,611 | 2,468 |
Assets held for sale - non-current | 129,194 | |
Total assets | 6,651,394 | 6,678,956 |
Current liabilities: | ||
Short-term debt and current portion of long-term debt | 629,371 | 88,875 |
Current portion of capital lease obligations | 4,643 | 4,241 |
Accounts payable | 186,941 | 213,592 |
Accrued expenses and other current liabilities | 309,394 | 375,494 |
Liabilities related to assets held for sale - current | 7,663 | 78,843 |
Total current liabilities | 1,138,012 | 761,045 |
Long-term liabilities: | ||
Long-term debt, net of current portion | 2,958,036 | 3,621,385 |
Capital lease obligations, net of current portion | 6,913 | 10,560 |
Deferred tax liabilities | 227,491 | 214,639 |
Other long-term liabilities | 146,240 | 161,582 |
Liabilities related to assets held for sale - non-current | 11,527 | |
Total long-term liabilities | $ 3,350,207 | $ 4,008,166 |
Commitments and contingencies (Note 17) | ||
Stockholders' equity: | ||
Series B preferred stock, $0.001 par value (liquidation preference: $709,763 at June 30, 2015 and December 31, 2014); Authorized: 2,300 shares; Issued: 2,065 shares at June 30, 2015 and December 31, 2014; Outstanding: 1,774 shares at June 30, 2015 and December 31, 2014 | $ 606,468 | $ 606,468 |
Common stock, $0.001 par value; Authorized: 200,000 shares; Issued: 93,224 shares at June 30, 2015 and 91,532 shares at December 31, 2014; Outstanding: 85,545 shares at June 30, 2015 and 83,853 shares at December 31, 2014 | 93 | 92 |
Additional paid-in capital | 3,414,982 | 3,355,672 |
Accumulated deficit | (1,450,508) | (1,679,552) |
Treasury stock, at cost, 7,679 shares at June 30, 2015 and December 31, 2014 | (184,971) | (184,971) |
Accumulated other comprehensive loss | (227,482) | (192,110) |
Total stockholders' equity | 2,158,582 | 1,905,599 |
Non-controlling interests | 4,593 | 4,146 |
Total equity | 2,163,175 | 1,909,745 |
Total liabilities and equity | $ 6,651,394 | $ 6,678,956 |
Consolidated Balance Sheets (u5
Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowances | $ 87,231 | $ 76,163 |
Series B preferred stock, par value | $ 0.001 | $ 0.001 |
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 | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 93,224,000 | 91,532,000 |
Common stock, shares outstanding | 85,545,000 | 83,853,000 |
Treasury stock, shares | 7,679,000 | 7,679,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash Flows from Operating Activities: | ||
Net income (loss) | $ 229,491 | $ (50,472) |
Income from discontinued operations, net of tax | 216,777 | 10,319 |
Income (loss) from continuing operations | 12,714 | (60,791) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Tax benefit related to discontinued operations | 0 | 2,990 |
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 7,784 | 7,926 |
Depreciation and amortization | 147,011 | 167,639 |
Non-cash stock-based compensation expense | 12,279 | 4,582 |
Impairment of inventory | 68 | 589 |
Impairment of long-lived assets | 387 | 1,491 |
Loss on disposition of fixed assets | 3,318 | 3,265 |
Equity earnings of unconsolidated entities, net of tax | (5,320) | (7,439) |
Gain on sales of marketable securities | (8) | 0 |
Deferred income taxes | (40,655) | (33,894) |
Loss related to impairment and net loss on dispositions | 40,334 | 638 |
Loss on extinguishment of debt | 3,480 | 0 |
Other non-cash items | (2,332) | (5,261) |
Non-cash change in fair value of contingent purchase price consideration | (52,867) | 16,729 |
Changes in assets and liabilities, net of acquisitions: | ||
Accounts receivable, net | (27,464) | 15,068 |
Inventories, net | (46,093) | (15,329) |
Prepaid expenses and other current assets | (27,077) | 663 |
Accounts payable | (23,251) | 30,437 |
Accrued expenses and other current liabilities | 27,657 | (3,769) |
Other non-current liabilities | 6,025 | 6,377 |
Cash paid for contingent purchase price consideration | (3,781) | (20,205) |
Net cash provided by continuing operations | 32,209 | 111,706 |
Net cash provided by discontinued operations | 318 | 13,398 |
Net cash provided by operating activities | 32,527 | 125,104 |
Cash Flows from Investing Activities: | ||
Increase in restricted cash | (424,025) | (4,034) |
Purchases of property, plant and equipment | (47,284) | (47,283) |
Proceeds from sale of property, plant and equipment | 1,120 | 493 |
Cash received from dispositions, net of cash divested | 586,625 | 5,454 |
Cash paid for business acquisitions, net of cash acquired | 0 | (75) |
Cash received from equity method investments | 14,297 | 980 |
Cash received from sales of marketable securities | 93 | 39 |
Cash paid for investments | 0 | (779) |
Decrease in other assets | 1,750 | 864 |
Net cash provided by (used in) continuing operations | 132,576 | (44,341) |
Net cash used in discontinued operations | (209) | (6,769) |
Net cash provided by (used in) investing activities | 132,367 | (51,110) |
Cash Flows from Financing Activities: | ||
Cash paid for financing costs | (15,731) | (5) |
Cash paid for contingent purchase price consideration | (6,373) | (15,619) |
Proceeds from issuance of common stock, net of issuance costs | 56,332 | 21,121 |
Proceeds from issuance of long-term debt | 2,121,851 | 0 |
Payments on short-term debt | (584) | 0 |
Payments on long-term debt | (2,118,264) | (31,727) |
Proceeds from issuance of short-term debt | 0 | 806 |
Net (payments) proceeds under revolving credit facilities | (126,320) | 111 |
Cash paid for dividends | (10,646) | (10,646) |
Excess tax benefits on exercised stock options | 2,511 | 415 |
Principal payments on capital lease obligations | (2,910) | (3,039) |
Net cash used in continuing operations | (100,134) | (38,583) |
Net cash used in discontinued operations | (76) | (167) |
Net cash used in financing activities | (100,210) | (38,750) |
Foreign exchange effect on cash and cash equivalents | (1,574) | 1,650 |
Net increase in cash and cash equivalents | 63,110 | 36,894 |
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 | 464,871 | 398,801 |
Less: Cash and cash equivalents of discontinued operations, end of period | 0 | 8,647 |
Cash and cash equivalents of continuing operations, end of period | $ 464,871 | $ 390,154 |
Basis of Presentation of Financ
Basis of Presentation of Financial Information | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [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 Amendment No. 2 to our Annual Report on Form 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. 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 and six months ended June 30, 2014 has been retroactively adjusted to reflect this change in reporting segments. Certain reclassifications of prior period amounts have been made in order to retrospectively present discontinued operations. These reclassifications have no effect on net income or equity. Certain amounts presented may not recalculate directly, due to rounding. |
Revision of Previously Reported
Revision of Previously Reported Amounts | 6 Months Ended |
Jun. 30, 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 six months ended June 30, 2014, included herein, have been adjusted to correct for the impact of these items. The adjustments recorded in connection with the revisions related to the six months ended June 30, 2014 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 benefit for income taxes. The impacts of these revisions are shown in the tables below: Three Months Ended June 30, 2014 Revised Consolidated Statement of Operations (in thousands, except per share data) As Previously Reported, Adjustment As Revised Net product sales $ 500,118 $ 240 $ 500,358 Net product sales and services revenue $ 640,554 $ 240 $ 640,794 Net revenue $ 647,158 $ 240 $ 647,398 Cost of net product sales $ 272,192 $ (505 ) $ 271,687 Cost of service revenue $ 74,467 $ 1,426 $ 75,893 Cost of net product sales and services revenue $ 346,659 $ 921 $ 347,580 Cost of net revenue $ 347,784 $ 921 $ 348,705 Gross profit $ 299,374 $ (681 ) $ 298,693 General and administrative $ 131,748 $ (1,175 ) $ 130,573 Operating loss $ (6,243 ) $ 494 $ (5,749 ) Other income (expense), net $ 3,131 $ 88 $ 3,219 Loss from continuing operations before benefit for income taxes $ (55,146 ) $ 582 $ (54,564 ) Benefit for income taxes $ 5,454 $ 10 $ 5,464 Loss from continuing operations before equity earnings of unconsolidated entities, net of tax $ (60,600 ) $ 572 $ (60,028 ) Loss from continuing operations $ (58,513 ) $ 572 $ (57,941 ) Net loss $ (45,598 ) $ 572 $ (45,026 ) Net loss attributable to Alere Inc. and Subsidiaries $ (45,660 ) $ 572 $ (45,088 ) Net loss available to common stockholders $ (50,969 ) $ 572 $ (50,397 ) Basic and diluted loss per common share: Loss from continuing operations $ (0.77 ) $ — $ (0.77 ) Basic and diluted net loss per common share: Net loss per common share $ (0.62 ) $ 0.01 $ (0.61 ) Six Months Ended June 30, 2014 Revised Consolidated Statement of Operations (in thousands, except per As Previously Reported, Adjustment As Revised Net product sales $ 991,437 $ 240 $ 991,677 Net product sales and services revenue $ 1,260,581 $ 240 $ 1,260,821 Net revenue $ 1,272,397 $ 240 $ 1,272,637 Cost of net product sales $ 515,718 $ (1,050 ) $ 514,668 Cost of service revenue $ 143,364 $ 2,890 $ 146,254 Cost of net product sales and services revenue $ 659,082 $ 1,840 $ 660,922 Cost of net revenue $ 661,746 $ 1,840 $ 663,586 Gross profit $ 610,651 $ (1,600 ) $ 609,051 General and administrative $ 241,163 $ (6,971 ) $ 234,192 Operating income $ 23,876 $ 5,371 $ 29,247 Other income (expense), net $ 8,413 $ 1,838 $ 10,251 Loss from continuing operations before benefit for income taxes $ (71,655 ) $ 7,209 $ (64,446 ) Benefit for income taxes $ 296 $ 3,488 $ 3,784 Loss from continuing operations before equity earnings of unconsolidated entities, net of tax $ (71,951 ) $ 3,721 $ (68,230 ) Loss from continuing operations $ (64,512 ) $ 3,721 $ (60,791 ) Net loss $ (54,193 ) $ 3,721 $ (50,472 ) Net loss attributable to Alere Inc. and Subsidiaries $ (54,363 ) $ 3,721 $ (50,642 ) Net loss available to common stockholders $ (64,922 ) $ 3,721 $ (61,201 ) Basic and diluted loss per common share: Loss from continuing operations $ (0.91 ) $ 0.04 $ (0.87 ) Basic and diluted net loss per common share: Net loss per common share $ (0.79 ) $ 0.05 $ (0.74 ) Three Months Ended June 30, 2014 Revised Consolidated Statement of Comprehensive Loss (in thousands) As Previously Reported, Adjustment As Revised Net loss $ (45,598 ) $ 572 $ (45,026 ) Comprehensive loss $ (7,864 ) $ 572 $ (7,292 ) Comprehensive loss attributable to Alere Inc. and Subsidiaries $ (7,926 ) $ 572 $ (7,354 ) Six Months Ended June 30, 2014 Revised Consolidated Statement of Comprehensive Loss (in thousands) As Previously Reported, Adjustment As Revised Net loss $ (54,193 ) $ 3,721 $ (50,472 ) Comprehensive loss $ (27,734 ) $ 3,721 $ (24,013 ) Comprehensive loss attributable to Alere Inc. and Subsidiaries $ (27,904 ) $ 3,721 $ (24,183 ) Six Months Ended June 30, 2014 Revised Consolidated Statement of Cash Flows (in thousands) As Previously Reported, Adjustment As Revised Net loss $ (54,193 ) $ 3,721 $ (50,472 ) Loss from continuing operations $ (64,512 ) $ (3,721 ) $ (60,791 ) Deferred income taxes $ (36,524 ) $ 2,630 $ (33,894 ) Accounts receivable, net $ 15,308 $ (240 ) $ 15,068 Prepaid expenses and other current assets $ 2,501 $ (1,838 ) $ 663 Accrued expenses and other current liabilities $ (2,379 ) $ (1,390 ) $ (3,769 ) Other non-current liabilities $ 4,723 $ 1,654 $ 6,377 Non-cash change in fair value of contingent consideration $ 21,329 $ (4,600 ) $ 16,729 Net cash provided by continuing operations $ 111,769 $ (63 ) $ 111,706 Net cash provided by operating activities $ 125,167 $ (63 ) $ 125,104 Purchases of property, plant and equipment $ (47,346 ) $ 63 $ (47,283 ) Net cash used in continuing operations $ (44,404 ) $ 63 $ (44,341 ) Net cash used in investing activities $ (51,173 ) $ 63 $ (51,110 ) The Company has reflected these revisions as applicable in its consolidated financial statements and also in the consolidating financial statements presented in Note 23. |
Assets Held for Sale
Assets Held for Sale | 6 Months Ended |
Jun. 30, 2015 | |
Assets Held for Sale | (20) Impairment and (Gain) Loss on Dispositions, Net In May 2015, we sold our Alere Analytics business, which was part of our professional diagnostics reporting unit and business segment. Under the terms of the sale we received nominal consideration and agreed to contribute working capital of $2.7 million to Alere Analytics, of which $2.4 million was contributed in cash immediately prior to the closing of the sale and the remaining $0.3 million of which was deposited in escrow pending the performance by the buyers under certain contracts. As a result of this transaction we recorded a loss of $4.7 million during the second quarter of 2015. During the three months ended March 31, 2015, before identifying a buyer for Alere Analytics, our management decided to close the business, and in connection with this decision we recorded an impairment charge of $26.7 million during the period, including the write-off of $26.2 million of acquisition-related intangible assets and $0.5 million of fixed assets. In March 2015, we sold certain assets of our AdnaGen GmbH business, 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 $0.2 million during the six months ended June 30, 2015. In March 2015, we sold our Gesellschaft fur Patientenhilfe DGP GmbH subsidiary, 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 December 2014, our management decided to close our Alere Connect, LLC subsidiary, which is part of our professional diagnostics reporting unit and business segment. During the six months ended June 30, 2015, in connection with this decision, we recorded impairment charges of $1.0 million, consisting primarily of severance costs, inventory write-offs and other closure-related expenses. In April 2014, we sold the Glucostabilizer business of Alere Informatics, Inc., which was part of our professional diagnostics reporting unit and business segment, to Medical Decision Network, LLC, or MDN, for $1.1 million in cash proceeds and a $1.5 million note receivable, which we fully reserved for based on our assessment of collectability. As a result of this transaction, we recorded a loss on disposition of $0.6 million during the three months ended June 30, 2014. The financial results for the above businesses are immaterial to our consolidated financial results. |
Subsequent Events [Member] | |
Assets Held for Sale | (24) Assets Held for Sale We account for planned divestitures in accordance with ASU No. 2014-08. A disposal group comprising assets and liabilities that are expected to be recovered primarily through sale rather than continuing use are classified as held for sale on the consolidated balance sheet. Immediately before classification as held for sale, the assets, or components of a disposal group, are assessed for impairment in accordance with our accounting policy. Any impairment losses relating to assets included in the disposal group are recorded in the statement of operations. Sale of BBI On July 2, 2015, we entered into an agreement to sell our BBI business, which is included in our professional diagnostics segment, to Exponent Private Equity LLP, a U.K.-based private equity firm, for a total purchase price of approximately $164.3 million, based on foreign exchange rates on that date, including up to $46.6 million in contingent consideration. The final purchase price is subject to a working capital adjustment. BBI Group provides products and services for the diagnostic, healthcare, research, defense and food industries globally. The close of the BBI sale is subject to regulatory approvals, including applicable anti-trust authorization, approvals by CFIUS (Committee on Foreign Investment in the United States) and from the Directorate of Defense Trade Controls of the U.S. Department of State. The closing of the transaction is anticipated to occur during the fourth quarter of 2015. We expect to use the majority of the proceeds from the sale to pay down existing indebtedness. The following assets and liabilities associated with our BBI business have been segregated and classified as assets held for sale and liabilities related to assets held for sale, as appropriate, on our consolidated balance sheet as of June 30, 2015 (in thousands): June 30, 2015 Assets Accounts receivable, net of allowances of $2,464 at June 30, 2015 $ 11,997 Inventories, net 11,770 Deferred tax assets — current 142 Prepaid expenses and other current assets 4,722 Assets held for sale — current 28,361 Property, plant and equipment, net 11,126 Goodwill 59,506 Finite-lived intangible assets, net 43,044 Other non-current assets 3,155 Assets held for sale — non-current 116,881 Liabilities Current portion of capital lease obligations $ 6 Accounts payable 3,563 Accrued expenses and other current liabilities 4,094 Liabilities related to assets held for sale — current 7,663 Capital lease obligations, net of current portion 10 Deferred tax liabilities — non-current 10,381 Other long-term liabilities 1,136 Liabilities related to assets held for sale — non-current 11,527 Sale of TechLab Equity Method Investment As of June 30, 2015, we met the held for sale criteria with respect to our 49% investment in TechLab. We intend to use all or a portion of the proceeds from any sale of this investment to repay a portion of the indebtedness outstanding under our secured credit facility. Accordingly, we have classified our investment in TechLab in Assets held for sale – non-current in our consolidated balance sheet as of June 30, 2015. See Note 19 (b). |
Alere Accountable Care Solutions, LLC ("ACS") [Member] | |
Assets Held for Sale | (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 the six months ended June 30, 2015, given our January 9, 2015 divestiture of this business. The results of the ACS Companies are included in the three and six months ended June 30, 2014, given our October 31, 2014 divestiture of this business. The results are as follows (in thousands): Three Months Six Months Ended June 30, 2014 2015 2014 Net revenue $ 90,785 $ 7,373 $ 182,168 Cost of net revenue (50,240 ) (4,413 ) (101,660 ) Sales and marketing (14,862 ) (996 ) (28,882 ) General and administrative (28,198 ) (5,001 ) (58,318 ) Interest expense (117 ) (9 ) (253 ) Other income (expense), net (511 ) 160 (1,070 ) Gain on disposal — 366,191 — Income (loss) from discontinued operations before provision (benefit) for income taxes (3,143 ) 363,305 (8,015 ) Provision (benefit) for income taxes (16,058 ) 146,528 (18,334 ) Income from discontinued operations, net of tax $ 12,915 $ 216,777 $ 10,319 |
Cash and Cash Equivalents
Cash and Cash Equivalents | 6 Months Ended |
Jun. 30, 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 June 30, 2015, our cash equivalents consisted of money market funds. |
Restricted Cash
Restricted Cash | 6 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Restricted Cash | (5) Restricted Cash We had restricted cash of $461.6 million and $37.6 million as of June 30, 2015 and December 31, 2014, respectively. Of the $461.6 million as of June 30, 2015, $425.9 million relates to a deposit of funds with a trustee in connection with the satisfaction and discharge of our obligations associated with the October 1, 2015 scheduled redemption of our 8.625% senior subordinated notes due 2018, or the 8.625% notes. |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2015 | |
Inventory Disclosure [Abstract] | |
Inventories | (6) Inventories Inventories are stated at the lower of cost (first in, first out) or market and are comprised of the following (in thousands): June 30, 2015 December 31, 2014 Raw materials $ 131,213 $ 122,886 Work-in-process 66,360 82,724 Finished goods 168,767 159,555 $ 366,340 $ 365,165 |
Stock-based Compensation
Stock-based Compensation | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based Compensation | (7) Stock-based Compensation We recorded stock-based compensation expense in our consolidated statements of operations for the three and six months ended June 30, 2015 and 2014, respectively, as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Cost of net revenue $ 287 $ 285 $ 540 $ 572 Research and development 282 (1,811 ) 606 (620 ) Sales and marketing 1,251 967 2,345 1,858 General and administrative 5,310 (563 ) 8,788 2,772 7,130 (1,122 ) 12,279 4,582 Provision (benefit) for income taxes (2,529 ) 655 (4,902 ) (1,123 ) $ 4,601 $ (467 ) $ 7,377 $ 3,459 |
Net Income (Loss) per Common Sh
Net Income (Loss) per Common Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Net Income (Loss) per Common Share | (8) 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 periods presented (in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Basic and diluted net income (loss) per common share: Numerator Income (loss) from continuing operations $ 20,263 $ (57,941 ) $ 12,714 $ (60,791 ) Preferred stock dividends (5,309 ) (5,309 ) (10,559 ) (10,559 ) Income (loss) from continuing operations attributable to common shares 14,954 (63,250 ) 2,155 (71,350 ) Less: Net income attributable to non-controlling interest 359 62 447 170 Income (loss) from continuing operations attributable to Alere Inc. and Subsidiaries 14,595 (63,312 ) 1,708 (71,520 ) Income from discontinued operations — 12,915 216,777 10,319 Net income (loss) available to common stockholders $ 14,595 $ (50,397 ) $ 218,485 $ (61,201 ) Denominator Weighted-average common shares outstanding — basic 85,173 82,648 84,758 82,518 Weighted-average common shares outstanding — diluted 86,635 82,648 86,070 82,518 Basic net income (loss) per common share: Income (loss) from continuing operations attributable to Alere Inc. and Subsidiaries $ 0.17 $ (0.77 ) $ 0.02 $ (0.87 ) Income from discontinued operations — 0.16 2.56 0.13 Basic net income (loss) per common share $ 0.17 $ (0.61 ) $ 2.58 $ (0.74 ) Diluted net income (loss) per common share: Income (loss) from continuing operations attributable to Alere Inc. and Subsidiaries $ 0.17 $ (0.77 ) $ 0.02 $ (0.87 ) Income from discontinued operations — 0.16 2.52 0.13 Diluted net income (loss) per common share $ 0.17 $ (0.61 ) $ 2.54 $ (0.74 ) 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 June 30, Six Months Ended June 30, 2015 2014 2015 2014 Denominator Options to purchase shares of common stock 7,627 9,380 7,627 9,380 Warrants — 4 4 4 Conversion shares related to 3% convertible senior subordinated notes 3,411 3,411 3,411 3,411 Conversion shares related to subordinated convertible promissory notes 27 27 27 27 Conversion shares related to Series B convertible preferred stock 10,239 10,239 10,239 10,239 Common stock equivalents related to the settlement of a contingent consideration obligation — 335 — 347 Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding 21,304 23,396 21,308 23,408 |
Stockholders' Equity and Non-co
Stockholders' Equity and Non-controlling Interests | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Stockholders' Equity and Non-controlling Interests | (9) Stockholders’ Equity and Non-controlling Interests (a) Preferred Stock For the three and six months ended June 30, 2015, Series B preferred stock dividends amounted to $5.3 million and $10.6 million, respectively, and for the three and six months ended June 30, 2014, Series B preferred stock dividends amounted to $5.3 million and $10.6 million, respectively, which reduced earnings available to common stockholders for purposes of calculating net income (loss) per common share for each of the respective periods. As of June 30, 2015, $5.3 million of Series B preferred stock dividends was accrued. As of July 15, 2015, payments have been made covering all dividend periods through June 30, 2015. The Series B preferred stock dividends for the three and six months ended June 30, 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 six months ended June 30, 2015 and 2014 is provided below (in thousands): Six Months Ended June 30, 2015 2014 Total Non- Total Total Non- Total 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 56,332 — 56,332 21,121 — 21,121 Preferred stock dividends (10,646 ) — (10,646 ) (10,646 ) — (10,646 ) Stock-based compensation expense 12,279 — 12,279 4,582 — 4,582 Excess tax benefits on exercised stock options 1,346 — 1,346 124 — 124 Net income (loss) 229,044 447 229,491 (50,642 ) 170 (50,472 ) Total other comprehensive income (loss) (35,372 ) — (35,372 ) 26,459 — 26,459 Equity, end of period $ 2,158,582 $ 4,593 $ 2,163,175 $ 2,064,254 $ 5,052 $ 2,069,306 |
Restructuring Plans
Restructuring Plans | 6 Months Ended |
Jun. 30, 2015 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Plans | (10) Restructuring Plans The following table sets forth aggregate restructuring charges recorded in our consolidated statements of operations for the three and six months ended June 30, 2015 and 2014 (in thousands): Three Months Ended June 30, Six Months Ended June 30, Statement of Operations Caption 2015 2014 2015 2014 Cost of net revenue $ 896 $ 220 $ 2,399 $ 1,053 Research and development 156 3,031 649 3,031 Sales and marketing 570 4,851 1,953 6,401 General and administrative 3,231 7,278 4,122 9,293 Total operating expenses 4,853 15,380 9,123 19,778 Interest expense, including amortization of original issue discounts and deferred financing costs 6 11 13 23 Total charges $ 4,859 $ 15,391 $ 9,136 $ 19,801 (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 and six months ended June 30, 2015 and 2014 and since inception of these restructuring plans (in thousands): Three Months Ended Six Months Ended Since Professional Diagnostics 2015 2014 2015 2014 Severance-related costs $ 1,264 $ 9,732 $ 4,064 $ 12,096 $ 31,870 Facility and transition costs 1,487 147 2,913 181 6,373 Cash charges 2,751 9,879 6,977 12,277 38,243 Fixed asset and inventory impairments 445 1,330 454 2,080 11,406 Total charges $ 3,196 $ 11,209 $ 7,431 $ 14,357 $ 49,649 Three Months Ended Six Months Ended Since Corporate and Other 2015 2014 2015 2014 Severance-related costs $ 569 $ 2,113 $ 611 $ 2,200 $ 3,512 Facility and transition costs (6 ) 1,942 (13 ) 1,950 11,322 Total cash charges $ 563 $ 4,055 $ 598 $ 4,150 $ 14,834 We anticipate incurring approximately $4.4 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 may develop additional restructuring plans over the remainder of 2015. As of June 30, 2015, $4.5 million in severance and transition 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, 2011and 2008 restructuring plans for the three and six months ended June 30, 2015 and 2014 and since inception of these plans (in thousands): Three Months Ended Six Months Ended Since Professional Diagnostics 2015 2014 2015 2014 Severance-related costs $ — $ 39 $ — $ 936 $ 26,926 Facility and transition costs 1,094 76 1,094 335 11,574 Other exit costs 6 11 13 23 811 Cash charges 1,100 126 1,107 1,294 39,311 Fixed asset and inventory impairments — — — — 6,776 Intangible asset impairments — — — — 686 Other non-cash charges — — — — 64 Total charges $ 1,100 $ 126 $ 1,107 $ 1,294 $ 46,837 We do not anticipate incurring significant additional costs under these plans related to our professional diagnostics business segment. As of June 30, 2015, $1.3 million in cash charges remain unpaid under our restructuring plans prior to 2014, primarily related to facility lease obligations, which are anticipated to continue through 2020. (c) Restructuring Reserves The following table summarizes our restructuring reserves related to the restructuring plans described above, of which $4.9 million is included in accrued expenses and other current liabilities and $0.8 million is included in other long-term liabilities on our consolidated balance sheets (in thousands): Severance- Facility and Other Exit Total Balance, December 31, 2014 $ 4,590 $ 9,868 $ 290 $ 14,748 Cash charges 4,537 3,913 13 8,463 Payments (7,134 ) (9,993 ) (63 ) (17,190 ) Currency adjustments (169 ) (159 ) — (328 ) Balance, June 30, 2015 $ 1,824 $ 3,629 $ 240 $ 5,693 |
Debt
Debt | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Debt | (11) Debt We had the following debt balances outstanding (in thousands): June 30, 2015 December 31, 2014 A term loans (1) $ 646,775 $ — B term loans (1) 1,047,386 — Prior credit facility—A term loans (2)(4) — 785,938 Prior credit facility—B term loans (3)(4) — 1,330,810 Prior credit facility—Revolving loans (4) — 127,000 7.25% Senior notes 450,000 450,000 6.5% Senior subordinated notes 425,000 425,000 6.375% Senior subordinated notes 425,000 — 8.625% Senior subordinated notes 400,000 400,000 3% Convertible senior subordinated notes 150,000 150,000 Other lines of credit 1,336 684 Other 41,910 40,828 3,587,407 3,710,260 Less: Short-term debt and current portion of long-term debt (629,371 ) (88,875 ) Long-term debt $ 2,958,036 $ 3,621,385 (1) Incurred under our secured credit facility entered into on June 18, 2015. (2) Includes “A” term loans and “Delayed Draw” term loans under our prior credit facility. (3) Includes term loans previously referred to as “Incremental B-1” term loans and “Incremental B-2” term loans under our prior credit facility, which term loans had been converted into and consolidated with the “B” term loans under our prior credit facility. (4) On May 15, 2015, we incurred an event of default under our prior credit facility as a result of our failure to timely deliver certain financial statements to our lenders thereunder. The event of default was subsequently cured and our prior credit facility was subsequently refinanced with our secured credit facility, so such event of default was not in existence on June 30, 2015. In connection with our debt issuances, we recorded interest expense, including amortization and write-offs of deferred financing costs and original issue discounts, in our consolidated statements of operations for the three-month and six-month periods ended June 30, 2015 and 2014, respectively, as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Secured credit facility (1) $ 12,851 $ — $ 12,851 $ — Prior credit facility (2) (3) 19,726 24,859 39,188 49,621 7.25% Senior notes 8,525 8,524 17,049 17,049 6.5% Senior subordinated notes 7,234 7,176 14,467 14,354 6.375% Senior subordinated notes 542 — 542 — 8.625% Senior subordinated notes 9,274 9,275 18,547 18,548 3% Senior subordinated convertible notes 1,246 1,246 2,492 2,492 Other 96 954 789 1,880 $ 59,494 $ 52,034 $ 105,925 $ 103,944 (1) Includes “A” term loans, “B” term loans and revolving line of credit loans. (2) Includes the following loans under our prior credit facility: “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 and later converted into and consolidated with the “B” term loans; and revolving line of credit loans. For the three and six months ended June 30, 2015, the amounts include $0.3 million and $0.7 million, respectively, related to the amortization of fees paid for certain debt modifications. For the three and six months ended June 30, 2014, the amounts include $0.3 million and $0.7 million, respectively, related to the amortization of fees paid for certain debt modifications. (3) Includes a $3.5 million loss on extinguishment of debt associated with our prior credit facility. (a) Secured Credit Facility On June 18, 2015, we entered into a Credit Agreement, or secured credit facility, with certain lenders, Goldman Sachs Bank USA, as B term loan administrative agent, General Electric Capital Corporation as pro rata administrative agent and collateral agent, and certain other agents and arrangers, and, along with certain of our subsidiaries, a related guaranty and security agreement. The secured credit facility provides for (i) term loans in the aggregate amount of $1.7 billion (consisting of “A” term loans in the aggregate principal amount of $650.0 million and “B” term loans in the aggregate principal amount of $1,050.0 million), all of which were drawn at closing, and (ii) subject to our continued compliance with the terms of the secured credit facility, a $250.0 million revolving line of credit (which revolving line of credit includes a $50.0 million sublimit for the issuance of letters of credit); no amount was drawn under the revolving credit facility at closing. We used approximately $1.68 billion of the proceeds of the term loans drawn at closing (i) to repay in full all indebtedness outstanding under our prior credit facility, whereupon such agreement was terminated (as described below), and (ii) to pay various fees and expenses associated with the transactions contemplated by the secured credit facility. Subject to certain limits and restrictions, we may use the remaining proceeds of the term loans, the proceeds of any revolving credit loans and the proceeds of any incremental term loans (described below) or incremental revolving credit commitments (described below) to finance permitted acquisitions, to finance capital expenditures, to provide working capital and for other general corporate purposes. We must repay the “A” term loans in nineteen consecutive quarterly installments, beginning on September 30, 2015 and continuing through March 31, 2020, in the principal amount of $8,125,000 each, followed by a final installment on June 18, 2020, in the principal amount of $495,625,000. We must repay the “B” term loans in twenty-seven consecutive quarterly installments, beginning on September 30, 2015 and continuing through March 31, 2022, in the principal amount of $2,625,000 each, and a final installment on June 18, 2022, in the principal amount of $979,125,000. We may repay any future borrowings under the secured credit facility revolving line of credit at any time (without premium or penalty), but in no event later than June 18, 2020. We are required to make mandatory prepayments of the term loans and mandatory prepayments of any revolving credit loans in various amounts if we have Excess Cash Flow (as defined in the Credit Agreement, and commencing in respect of our fiscal year ending December 31, 2016), if we issue certain types of debt, if we make certain sales of assets outside the ordinary course of business above certain thresholds or if we suffer certain property loss events above certain thresholds. We may make optional prepayments of the term loans from time to time without any premium or penalty, subject to a customary 101% “soft call” protection with respect to certain prepayments or a repricing event with respect to the “B” term loans occurring on or before December 18, 2015. The “A” term loans and any borrowings under the revolving credit facility bear interest at a rate per annum per annum per annum Subject to our pro forma We must comply with various financial and non-financial covenants under the terms of the secured credit facility, which are set forth in the Credit Agreement. The primary financial covenant under the security credit facility consists of a maximum consolidated secured net leverage ratio applicable only to the “A” term loans and the revolving credit loans. The non-financial covenants are subject to certain important exceptions and qualifications. The lenders under the secured credit facility are entitled to accelerate repayment of the loans and terminate the revolving credit commitments thereunder upon the occurrence of any of various events of default. Borrowings under the secured credit facility are guaranteed by substantially all of our domestic subsidiaries (other than unrestricted subsidiaries and domestic subsidiaries of certain of our foreign subsidiaries) and are secured by the stock of substantially all of our domestic subsidiaries (other than unrestricted subsidiaries and domestic subsidiaries of certain of our foreign subsidiaries), portions of the stock of certain of our foreign subsidiaries, and substantially all of our and our guarantor subsidiaries’ other property and assets, in each case subject to various exceptions. As of June 30, 2015, aggregate borrowings under the secured credit facility amounted to $1.7 billion, consisting of “A” term loans in the aggregate principal amount of $650.0 million and “B” term loans in the aggregate principal amount of $1,050.0 million. As of June 30, 2015, we were in compliance with the maximum consolidated secured net leverage ratio under the secured credit facility. (b) Prior Credit Facility In connection with entering into the secured credit facility on June 18, 2015, we repaid in full all outstanding indebtedness under and terminated our prior Credit Agreement, or prior credit facility, dated as of June 30, 2011, as amended from time to time, with certain lenders, General Electric Capital Corporation as administrative agent and collateral agent, and certain other agents and arrangers, and certain related guaranty and security agreements. The aggregate outstanding principal amount of the loans repaid under our prior credit facility in connection with the termination thereof was approximately $1.65 billion. We assessed this repayment on a lender-by-lender basis in order to differentiate the portion constituting an extinguishment and the portion constituting a modification. Unamortized deferred financing fees relating to the extinguished portion of the prior credit facility debt were expensed, and the portion relating to modifications of the prior credit facility debt were carried forward to be amortized over the contractual life of the new secured credit facility. (c) 6.375% Senior Subordinated Notes On June 24, 2015, we sold a total of $425.0 million aggregate principal amount of 6.375% senior subordinated notes due 2023, or the 6.375% senior subordinated notes, in a private placement to initial purchasers, who agreed to resell the notes only to qualified institutional buyers and to persons outside the United States; we sold the 6.375% senior subordinated notes at an initial offering price of 100%. Net proceeds from this offering amounted to $417.3 million, which were net of the initial purchasers’ discount and offering expenses totaling approximately $7.7 million. The 6.375% senior subordinated notes were issued under a supplemental indenture dated June 24, 2015, or the 6.375% Indenture. The 6.375% senior subordinated notes accrue interest at the rate of 6.375% per annum We may, at our option, redeem the 6.375% senior subordinated notes, in whole or part, at any time (which may be more than once) on or after July 1, 2018 by paying the principal amount of the notes being redeemed plus a declining premium, plus accrued and unpaid interest to (but excluding) the redemption date. The premium declines from 4.781% during the twelve months on and after July 1, 2018, to 3.188% during the twelve months on and after July 1, 2019, to 1.594% during the twelve months on and after July 1, 2020, to zero on and after July 1, 2021. In addition, at any time (which may be more than once) prior to July 1, 2018, we may, at our option, redeem up to 35% of the aggregate principal amount of the 6.375% senior subordinated notes with money that we raise in certain qualifying equity offerings, so long as (i) we pay 106.375% of the principal amount of the notes being redeemed, plus accrued and unpaid interest to (but excluding) the redemption date; (ii) we redeem the 6.375% senior subordinated notes within 90 days of completing such equity offering; and (iii) at least 65% of the aggregate principal amount of the 6.375% senior subordinated notes remains outstanding afterwards. In addition, at any time (which may be more than once) prior to July 1, 2018, we may, at our option, redeem some or all of the 6.375% senior subordinated notes by paying the principal amount of the 6.375% senior subordinated notes being redeemed plus a make-whole premium, plus accrued and unpaid interest to (but excluding) the redemption date. If a change of control occurs, subject to specified conditions, we must give holders of the 6.375% senior subordinated notes an opportunity to sell their notes to us at a purchase price of 101% of the principal amount of the notes, plus accrued and unpaid interest to (but excluding) the date of the purchase. If we or our restricted subsidiaries engage in asset sales, we or they generally must either invest the net cash proceeds from such sales in our or their businesses within a specified period of time, repay senior indebtedness or make an offer to purchase a principal amount of the 6.375% senior subordinated notes equal to the excess net cash proceeds, subject to certain exceptions. The purchase price of the 6.375% senior subordinated notes would be 100% of their principal amount, plus accrued and unpaid interest. The 6.375% Indenture provides that we and our restricted subsidiaries must comply with various covenants, which are subject to certain important exceptions and qualifications, which are set forth in the 6.375% Indenture. At any time the 6.375% senior subordinated notes are rated investment grade, certain covenants will be suspended with respect to them. The 6.375% Indenture contains events of default entitling the trustee or the holders of the 6.375% senior subordinated notes to declare all amounts owed pursuant to the 6.375% senior subordinated notes immediately payable if any such event of default occurs. The 6.375% senior subordinated notes are our senior subordinated unsecured obligations, are subordinated in right of payment to all of our existing and future senior debt, including our borrowings under our secured credit facility and our 7.25% senior notes, and are equal in right of payment with all of our existing and future senior subordinated debt, including our 8.625% senior subordinated notes (our obligations in respect of which have been satisfied and discharged, as described below), our 6.5% senior subordinated notes and our 3% convertible senior subordinated notes. Our obligations under the 6.375% senior subordinated notes and the 6.375% Indenture are fully and unconditionally guaranteed, jointly and severally, on a senior subordinated unsecured basis by certain of our domestic subsidiaries, and the obligations of such domestic subsidiaries under their guarantees are subordinated in right of payment to all of their existing and future senior debt and equal in right of payment to all of their existing and future senior subordinated debt. See Note 23 for guarantor financial information. (d) 8.625% Senior Subordinated Notes On June 24, 2015, we issued a notice of optional redemption to the holders of 8.625% notes that, on October 1, 2015 (the redemption date), we will redeem the entire principal amount of the 8.625% notes then outstanding at a redemption price equal to 102.156% of the principal amount of the 8.625% notes to be redeemed plus accrued and unpaid interest from April 1, 2015 to (but excluding) the redemption date, upon the terms set forth in the notice of optional redemption. The balance of the 8.625% notes is included in the short-term debt and current portion of long-term debt on our consolidated balance sheet as of June 30, 2015 as the redemption notice creates an obligation to pay the balance on October 1, 2015. We transferred the net proceeds received from the 6.375% notes of $417.3 million and additional cash of $8.6 million, or a total of $425.9 million, into an irrevocable trust, which will be used to fund the redemption of the 8.625% notes on October 1, 2015. The $425.9 million is classified on our consolidated balance sheet as of June 30, 2015 as restricted cash. We exercised our right immediately to satisfy and discharge all of our obligations with respect to the 8.625% notes, subject to settlement of the redemption on the redemption date. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | (12) 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— Level 2— Level 3— The following tables present information about our assets and liabilities that are measured at fair value on a recurring basis as of June 30, 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 June 30, Quoted Prices in Significant Other Unobservable Inputs Assets: Marketable securities $ 175 $ 175 $ — $ — Total assets $ 175 $ 175 $ — $ — Liabilities: Contingent consideration obligations (1) $ 72,907 $ — $ — $ 72,907 Total liabilities $ 72,907 $ — $ — $ 72,907 Description December 31, Quoted Prices in Significant Other Unobservable Inputs 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 17(a) 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 six months ended June 30, 2015 were as follows (in thousands): Fair value of contingent consideration obligations, December 31, 2014 $ 139,671 Payments (11,651 ) Present value accretion and adjustments (55,125 ) Foreign currency adjustments 12 Fair value of contingent consideration obligations, June 30, 2015 $ 72,907 At June 30, 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 debt were both $3.6 billion at June 30, 2015. The carrying amount and estimated fair value of our debt were both $3.7 billion at December 31, 2014. The estimated fair value of our 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 | 6 Months Ended |
Jun. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Defined Benefit Pension Plan | (13) 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 June 30, Six Months Ended June 30, 2015 2014 2015 2014 Service cost $ — $ — $ — $ — Interest cost 231 203 460 402 Expected return on plan assets (237 ) (192 ) (472 ) (380 ) Amortization of prior service costs 339 112 675 222 Net periodic benefit cost $ 333 $ 123 $ 663 $ 244 |
Financial Information by Segmen
Financial Information by Segment | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Financial Information by Segment | (14) 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 and six months ended June 30, 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 and six months ended June 30, 2015 and 2014 and as of June 30, 2015 and December 31, 2014 is as follows (in thousands): Professional Consumer Corporate Total Three Months Ended June 30, 2015: Net revenue $ 604,511 $ 24,645 $ — $ 629,156 Operating income (loss) $ 115,302 $ 1,079 $ (24,544 ) $ 91,837 Impairment and (gain) loss on dispositions, net $ 5,542 $ — $ — $ 5,542 Depreciation and amortization $ 70,143 $ 725 $ 1,775 $ 72,643 Restructuring charge $ 4,290 $ — $ 563 $ 4,853 Stock-based compensation $ — $ — $ 7,130 $ 7,130 Three Months Ended June 30, 2014: Net revenue $ 625,680 $ 21,718 $ — $ 647,398 Operating income (loss) $ 13,145 $ 2,012 $ (20,906 ) $ (5,749 ) Impairment and (gain) loss on dispositions, net $ 638 $ — $ — $ 638 Depreciation and amortization $ 82,206 $ 703 $ 910 $ 83,819 Restructuring charge $ 11,325 $ — $ 4,055 $ 15,380 Stock-based compensation $ — $ — $ (1,122 ) $ (1,122 ) Six Months Ended June 30, 2015: Net revenue $ 1,190,696 $ 46,613 $ — $ 1,237,309 Operating income (loss) $ 165,092 $ 3,283 $ (49,131 ) $ 119,244 Impairment and (gain) loss on dispositions, net $ 40,334 $ — $ — $ 40,334 Depreciation and amortization $ 142,566 $ 1,436 $ 3,009 $ 147,011 Restructuring charge $ 8,525 $ — $ 598 $ 9,123 Stock-based compensation $ — $ — $ 12,279 $ 12,279 Six Months Ended June 30, 2014: Net revenue $ 1,228,617 $ 44,020 $ — $ 1,272,637 Operating income (loss) $ 68,623 $ 2,711 $ (42,087 ) $ 29,247 Impairment and (gain) loss on dispositions, net $ 638 $ — $ — $ 638 Depreciation and amortization $ 164,612 $ 1,483 $ 1,544 $ 167,639 Restructuring charge $ 15,628 $ — $ 4,150 $ 19,778 Stock-based compensation $ — $ — $ 4,582 $ 4,582 Assets: As of June 30, 2015 $ 5,903,150 $ 211,812 $ 536,432 $ 6,651,394 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 segments by groups of similar products and services for the three and six months ended June 30, 2015 and 2014 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Cardiometabolic $ 213,661 $ 209,241 $ 416,504 $ 423,204 Infectious disease 176,630 175,001 355,386 342,614 Toxicology 157,495 169,647 306,251 325,180 Other 51,031 65,187 102,163 125,803 Total professional diagnostics net product sales and services revenue 598,817 619,076 1,180,304 1,216,801 License and royalty revenue 5,694 6,604 10,392 11,816 Total professional diagnostics net revenue $ 604,511 $ 625,680 $ 1,190,696 $ 1,228,617 |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | (15) 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 $2.0 million as of June 30, 2015 and a net payable to SPD of $4.0 million as of December 31, 2014. Included in the $2.0 million payable balance as of June 30, 2015 and 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 $9.4 million and $10.9 million as of June 30, 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 $8.4 million and $9.6 million as of June 30, 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 $21.7 million and $41.2 million during the three and six months ended June 30, 2015, respectively, and $20.6 million and $41.2 million during the three and six months ended June 30, 2014, respectively. Additionally, services revenue generated pursuant to the long-term services agreement with the joint venture totaled $0.3 million and $0.6 million during the three and six months ended June 30, 2015, respectively, and $0.3 million and $0.7 million during the three and six months ended June 30, 2014, respectively. Sales under our manufacturing agreement and long-term services agreement are included in net product sales and services revenue, respectively, in our 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 $10.6 million and $10.5 million of trade receivables which are included in accounts receivable on our consolidated balance sheets as of June 30, 2015 and December 31, 2014, respectively, and $22.2 million and $30.8 million of trade accounts payable which are included in accounts payable on our consolidated balance sheets as of June 30, 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 June 30, 2015 December 31, 2014 Accounts receivable, net of allowances $ 10,629 $ 10,465 Prepaid expenses and other current assets $ 8,363 $ 9,635 Deferred financing costs, net, and other non-current assets $ 9,432 $ 10,875 Accounts payable $ 24,163 $ 34,816 SPD is currently involved in civil litigation brought by a competitor in the United States with respect to the advertising of one of SPD’s products in the United States. While the court held that SPD violated certain laws with respect to the advertising of such product, SPD has filed an appeal of the court’s ruling. We are unable to determine the ultimate resolution of this matter at this time, or the impact it may have on SPD or us, including whether such resolution of the litigation or any damages imposed by the court would have a material adverse impact on SPD and, ultimately, by virtue of our 50% stake in SPD, on our financial position or results of operations. (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 June 30, 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 June 30, 2015. |
Other Arrangements
Other Arrangements | 6 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Other Arrangements | (16) 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 and six months ended June 30, 2015, we had incurred $0.9 million and $1.4 million, respectively, of qualified expenditures under the contract, for which we had received cash reimbursement from BARDA in the amount of $0.6 million and $1.0 million, respectively, and $0.4 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 June 30, 2015, we had borrowed no amounts under the Gates Loan Agreement. As of June 30, 2015, we had received approximately $19.7 million in grant-related funding from the Gates Foundation, which was recorded as restricted cash and deferred grant funding. As of June 30, 2015, we had deferred grant funding of $0.3 million relating to our agreement with the Gates Foundation, which is classified within accrued expenses and other current liabilities on our 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 the three and six months ended June 30, 2015, we incurred $1.5 million and $3.6 million, and for the three and six months ended June 30, 2014, we incurred $0.1 million and $2.2 million, respectively, 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 | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | (17) Commitments and Contingencies (a) 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. During the three months ended June 30, 2015, we revised the fair value estimates for the milestones related to the TwistDx, Inc. contingent consideration obligation to incorporate increased probabilities of success as a result of positive technological developments of related technology and regulatory approvals of certain related platforms. Accordingly, we recorded a charge associated with the resulting change in fair value of $15.6 million, which is included in general and administrative expense in our accompanying consolidated statement of operations. Additionally, during the three months ended June 30, 2015, we revised the fair value estimates for the milestones related to the Epocal contingent consideration obligation to reflect decreased probabilities of success and delayed cash inflows and clinical development timelines due to a strategic shift and re-allocation of research and development resources. As a result, we recorded income associated with the resulting change in fair value of $31.2 million, which is included in general and administrative expense in our accompanying consolidated statement of operations. Furthermore, we also recorded income of $24.5 million associated with a change in the fair value of our Ionian contingent consideration obligation to zero, which was included in the general and administrative expense in our accompanying consolidated statement of operations. The remaining product development milestones under the agreement were not achieved by the July 2015 deadline and, as such, the probability of making the related milestone payments was reduced to zero. 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 TwistDx, Inc. (1) March 11, 2010 $ 35,600 $ 103,376 2015 – 2025 (5) $ 51,600 $ 41,100 $ 5,248 Ionian Technologies, Inc. (2) July 12, 2010 $ 24,500 $ 50,000 2015 — 24,500 — DiagnosisOne, Inc. (3) July 31, 2012 $ 22,300 $ — — — 21,000 6,000 Epocal (4) February 1, 2013 $ 75,000 $ 65,500 2015 – 2018 16,300 47,200 — Other Various $ 30,373 $ — (6) 2015 – 2016 5,007 5,871 403 $ 72,907 $ 139,671 $ 11,651 (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 and $1.5 million was paid on April 3, 2015. (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. (b) Legal Proceedings • Matters Relating to our San Diego Facility On October 9, 2012, we received a warning letter from the FDA referencing inspectional observations set forth in an FDA Form 483 received in June 2012. The observations were the result of an inspection of our San Diego facility conducted earlier during 2012 relating to our Alere Triage products, which resulted in two recalls of certain Alere Triage products and revised release specifications for our Alere Triage meter-based products. We submitted evidence of our completion of most of the actions we committed to in response to the FDA Form 483 and warning letter. In September 2014, as follow up to a further inspection of our San Diego facility, the FDA notified us that this most recent inspection was classified “voluntary action indicated,” meaning that the objectionable conditions or practices found in the inspection do not meet the threshold of significance requiring regulatory action, but that formal close-out of the October 2012 warning letter could not occur until after a future inspection. In May 2012, we also received a subpoena from the Office of Inspector General of the Department of Health and Human Services, or the OIG, seeking documents relating primarily to the quality control testing and performance characteristics of Alere Triage products. We are cooperating with the OIG and have provided documents in response to the OIG under the subpoena. We are unable to predict when these matters will be resolved or what further action, if any, the government will take in connection with them. • Matters Related to Theft of Laptop In September 2012, a password-protected laptop containing personally identifiable information of approximately 116,000 patients was stolen from an employee of Alere Home Monitoring, or AHM. On January 24, 2013, a class action complaint was filed in the U.S. District Court for the Northern District of California against AHM, asserting claims for damages and other relief under California state law, including under California’s Confidentiality of Medical Information Act, or CMIA, arising out of this theft. On October 7, 2014, the class action was dismissed with leave to amend the complaint. On October 28, 2014, an amended complaint was filed, and on November 17, 2014 AHM responded by filing another motion to dismiss. On February 23, 2015, AHM’s motion to dismiss was granted in part, but denied as to the plaintiffs’ amended CMIA claims. The parties to the litigation have reached a settlement in principal that, if approved, will result in a nominal payment by us. • Claims in the Ordinary Course and Other Matters We are not a party to any other pending legal proceedings that we currently believe could have a material adverse impact on our business. However, on December 10, 2014, we and our subsidiary, Avee Laboratories Inc., or Avee, received subpoenas from the United States Attorney for the District of New Jersey seeking marketing materials and other documents relating primarily to billing and marketing practices related to toxicology testing. We are cooperating with the investigation and have begun to provide documents responsive to the subpoenas. Our subsidiary, Arriva Medical, LLC, or Arriva, is also in the process of responding to a Civil Investigative Demand, or CID, from the United States Attorney for the Middle District of Tennessee in connection with an investigation of possible improper claims submitted to Medicare and Medicaid. The CID requests patient and billing records. Both investigations are in preliminary stages, and we cannot predict what effect, if any, the investigations, or any resulting claims, could have on Alere or its subsidiaries. Our diabetes, toxicology and patient self-testing business areas are subject to audit and claims for reimbursement brought in the ordinary course by private third-party payers, including health insurers, Zone Program Integrity Contractors, or ZPICs, and Medicare Administrative Contractors, or MACs, to monitor compliance with coverage and reimbursement rules and guidelines. These types of audits and claims can include, but are not limited to, claims relating to proper documentation and support or claims relating to the medical necessity of certain testing and can lead to determinations that certain claims should not have been, or will no longer be, paid by the private third-party payer or by Medicare or Medicaid. In such cases, the payer or program may seek to recoup or offset amounts they assert have been paid in error. Our businesses may also be subject at any time to other commercial disputes, product liability claims, including claims arising from or relating to product recalls, negligence claims or various other lawsuits arising in the ordinary course of business, including infringement, employment or investor matters, and we expect that this will continue to be the case in the future. Such lawsuits or claims generally seek damages or reimbursement, sometimes in substantial amounts. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | (18) 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 must adopt by the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position, results of operations, comprehensive income or cash flows upon adoption. Please also see Note 4, Summary of Significant Accounting Policies Recently Issued Standards In April 2015, the FASB issued Accounting Standards Update, or ASU, No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers Recently Adopted Standards None. |
Equity Investments
Equity Investments | 6 Months Ended |
Jun. 30, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Investments | (19) 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, (a) SPD We recorded earnings of $0.6 million and $4.2 million during the three and six months ended June 30, 2015, respectively, and earnings of $1.8 million and $6.9 million during the three and six months ended June 30, 2014, respectively, in equity earnings of unconsolidated entities, net of tax, in our consolidated statements of operations, which represented our 50% share of SPD’s net income for the respective periods. During the three and six months ended June 30, 2015, we received $12.1 million in cash from SPD as a return of capital. (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 $0.8 million during the three and six months ended June 30, 2015, respectively, and earnings of $0.4 million and $0.7 million during the three and six months ended June 30, 2014, respectively, in equity earnings of unconsolidated entities, net of tax, in our consolidated statements of operations, which represented our minority share of TechLab’s net income for the respective periods. During the three and six months ended June 30, 2015, we received $2.2 million in cash from TechLab as a return of capital. Summarized financial information for SPD and TechLab on a combined basis is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, Combined Condensed Results of Operations: 2015 2014 2015 2014 Net revenue $ 53,159 $ 41,203 $ 101,016 $ 90,136 Gross profit $ 34,559 $ 37,432 $ 67,830 $ 80,412 Net income after taxes $ 3,039 $ 4,328 $ 11,096 $ 15,158 Combined Condensed Balance Sheet: June 30, 2015 December 31, 2014 Current assets $ 75,612 $ 90,546 Non-current assets 33,292 33,697 Total assets $ 108,904 $ 124,243 Current liabilities $ 44,878 $ 35,954 Non-current liabilities 2,184 5,884 Total liabilities $ 47,062 $ 41,838 As of June 30, 2015, we met the held for sale criteria with respect to our 49% investment in TechLab. We intend to use all or a portion of the proceeds from any sale of this investment to repay a portion of the indebtedness outstanding under our secured credit facility. Accordingly, we have classified our investment in TechLab in Assets held for sale – non-current in our consolidated balance sheet as of June 30, 2015. |
Direct-response Advertising
Direct-response Advertising | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Direct-response Advertising | (21) 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. |
Provision (Benefit) for Income
Provision (Benefit) for Income Taxes | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Provision (Benefit) for Income Taxes | (22) Provision (Benefit) for Income Taxes The provision for income taxes increased by $12.3 million to a $17.7 million provision for the three months ended June 30, 2015, from a $5.4 million provision for the three months ended June 30, 2014. The provision for income taxes increased by $5.1 million to an $8.9 million provision for the six months ended June 30, 2015, from a $3.8 million provision for the six months ended June 30, 2014. The effective tax rate for the three months ended June 30, 2015 and 2014 was 48.4% and (10.0)%, respectively. The effective tax rate for the six months ended June 30, 2015 and 2014 was 54.7% and (5.9)%, 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 change in the effective tax rate for the three months ended June 30, 2015 as compared to the three months ended June 30, 2014 is primarily a result of our forecasted jurisdictional mix of income (loss), limitations on the utilization of foreign tax credits, and loss entity valuation allowance changes. The increase in the effective tax rate from the six months ended June 30, 2014 to the six months ended June 30, 2015 is primarily a result of our forecasted jurisdictional mix of income (loss), limitations on the utilization of foreign tax credits, and loss entity valuation allowance changes |
Guarantor Financial Information
Guarantor Financial Information | 6 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Guarantor Financial Information | (23) Guarantor Financial Information Our 7.25% senior notes due 2018, our 8.625% senior subordinated notes due 2018, our 6.5% senior subordinated notes due 2020 and our 6.375% senior subordinated notes due 2023 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 June 30, 2015 and December 31, 2014, the related statements of operations and comprehensive income (loss) for each of the three and six months ended June 30, 2015 and 2014, respectively, and the statements of cash flows for the six months ended June 30, 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 June 30, 2015 (in thousands) Guarantor Non-Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net product sales $ — $ 212,604 $ 350,063 $ (65,833 ) $ 496,834 Services revenue — 114,983 11,645 — 126,628 Net product sales and services revenue — 327,587 361,708 (65,833 ) 623,462 License and royalty revenue — 3,233 5,710 (3,249 ) 5,694 Net revenue — 330,820 367,418 (69,082 ) 629,156 Cost of net product sales 417 120,939 194,199 (57,070 ) 258,485 Cost of services revenue 80 77,884 7,477 (8,688 ) 76,753 Cost of net product sales and services revenue 497 198,823 201,676 (65,758 ) 335,238 Cost of license and royalty revenue 19 410 4,164 (3,249 ) 1,344 Cost of net revenue 516 199,233 205,840 (69,007 ) 336,582 Gross profit (loss) (516 ) 131,587 161,578 (75 ) 292,574 Operating expenses: Research and development 3,241 13,993 9,964 — 27,198 Sales and marketing 1,570 52,101 53,513 — 107,184 General and administrative 24,390 51,288 (14,865 ) — 60,813 Impairment and (gain) loss on dispositions, net 44,378 (39,412 ) 576 — 5,542 Operating income (loss) (74,095 ) 53,617 112,390 (75 ) 91,837 Interest expense, including amortization of original issue discounts and deferred financing costs (59,086 ) (3,060 ) (4,702 ) 7,354 (59,494 ) Other income (expense), net 3,596 4,576 3,442 (7,354 ) 4,260 Income (loss) from continuing operations before provision (benefit) for income taxes (129,585 ) 55,133 111,130 (75 ) 36,603 Provision (benefit) for income taxes (16,306 ) 11,277 22,768 (38 ) 17,701 Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax (113,279 ) 43,856 88,362 (37 ) 18,902 Equity in earnings of subsidiaries, net of tax 132,620 — — (132,620 ) — Equity earnings of unconsolidated entities, net of tax 922 — 424 15 1,361 Net income 20,263 43,856 88,786 (132,642 ) 20,263 Less: Net income attributable to non-controlling interests — — 359 — 359 Net income attributable to Alere Inc. and Subsidiaries 20,263 43,856 88,427 (132,642 ) 19,904 Preferred stock dividends (5,309 ) — — — (5,309 ) Net income available to common stockholders $ 14,954 $ 43,856 $ 88,427 $ (132,642 ) $ 14,595 CONSOLIDATING STATEMENT OF OPERATIONS For the Three Months Ended June 30, 2014 (in thousands) Non - Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net product sales $ — $ 199,339 $ 358,657 $ (57,638 ) $ 500,358 Services revenue — 122,436 18,000 — 140,436 Net product sales and services revenue — 321,775 376,657 (57,638 ) 640,794 License and royalty revenue — 3,835 6,001 (3,232 ) 6,604 Net revenue — 325,610 382,658 (60,870 ) 647,398 Cost of net product sales 691 119,442 203,035 (51,481 ) 271,687 Cost of services revenue 70 73,993 8,674 (6,844 ) 75,893 Cost of net product sales and services revenue 761 193,435 211,709 (58,325 ) 347,580 Cost of license and royalty revenue — 47 4,310 (3,232 ) 1,125 Cost of net revenue 761 193,482 216,019 (61,557 ) 348,705 Gross profit (loss) (761 ) 132,128 166,639 687 298,693 Operating expenses: Research and development 7,163 15,590 14,677 — 37,430 Sales and marketing 3,196 60,175 72,430 — 135,801 General and administrative 25,952 46,458 58,163 — 130,573 Loss on disposition — 638 — — 638 Operating income (loss) (37,072 ) 9,267 21,369 687 (5,749 ) Interest expense, including amortization of original issue discounts and deferred financing costs (51,385 ) (5,019 ) (4,590 ) 8,960 (52,034 ) Other income (expense), net 2,423 5,073 4,683 (8,960 ) 3,219 Income (loss) from continuing operations before provision (benefit) for income taxes (86,034 ) 9,321 21,462 687 (54,564 ) Provision (benefit) for income taxes (12,977 ) 8,620 9,620 201 5,464 Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax (73,057 ) 701 11,842 486 (60,028 ) Equity in earnings of subsidiaries, net of tax 12,596 164 — (12,760 ) — Equity earnings of unconsolidated entities, net of tax 422 — 1,673 (8 ) 2,087 Income (loss) from continuing operations (60,039 ) 865 13,515 (12,282 ) (57,941 ) Income (loss) from discontinued operations, net of tax 15,013 (2,044 ) (54 ) — 12,915 Net income (loss) (45,026 ) (1,179 ) 13,461 (12,282 ) (45,026 ) Less: Net income attributable to non-controlling interests — — 62 — 62 Net income (loss) attributable to Alere Inc. and Subsidiaries (45,026 ) (1,179 ) 13,399 (12,282 ) (45,088 ) Preferred stock dividends (5,309 ) — — — (5,309 ) Net income (loss) available to common stockholders $ (50,335 ) $ (1,179 ) $ 13,399 $ (12,282 ) $ (50,397 ) CONSOLIDATING STATEMENT OF OPERATIONS For the Six Months Ended June 30, 2015 (in thousands) Guarantor Non-Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net product sales $ — $ 429,812 $ 673,260 $ (126,639 ) $ 976,433 Services revenue — 223,040 27,444 — 250,484 Net product sales and services revenue — 652,852 700,704 (126,639 ) 1,226,917 License and royalty revenue — 6,430 10,073 (6,111 ) 10,392 Net revenue — 659,282 710,777 (132,750 ) 1,237,309 Cost of net product sales 833 234,130 374,245 (112,086 ) 497,122 Cost of services revenue 130 151,921 15,872 (15,589 ) 152,334 Cost of net product sales and services revenue 963 386,051 390,117 (127,675 ) 649,456 Cost of license and royalty revenue (21 ) 1,218 8,208 (6,111 ) 3,294 Cost of net revenue 942 387,269 398,325 (133,786 ) 652,750 Gross profit (loss) (942 ) 272,013 312,452 1,036 584,559 Operating expenses: Research and development 5,543 28,912 20,759 — 55,214 Sales and marketing 2,830 105,328 108,105 — 216,263 General and administrative 44,913 89,058 19,533 — 153,504 Impairment and (gain) loss on dispositions, net 80,901 (8,804 ) (31,763 ) — 40,334 Operating income (loss) (135,129 ) 57,519 195,818 1,036 119,244 Interest expense, including amortization of original issue discounts and deferred financing costs (105,184 ) (6,345 ) (8,745 ) 14,349 (105,925 ) Other income (expense), net 7,243 8,875 1,221 (14,349 ) 2,990 Income (loss) from continuing operations before provision (benefit) for income taxes (233,070 ) 60,049 188,294 1,036 16,309 Provision (benefit) for income taxes (36,973 ) 13,097 32,483 308 8,915 Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax (196,097 ) 46,952 155,811 728 7,394 Equity in earnings of subsidiaries, net of tax 205,553 — — (205,553 ) — Equity earnings of unconsolidated entities, net of tax 1,346 — 3,992 (18 ) 5,320 Income from continuing operations 10,802 46,952 159,803 (204,843 ) 12,714 Income (loss) from discontinued operations, net of tax 218,689 (1,912 ) — — 216,777 Net income 229,491 45,040 159,803 (204,843 ) 229,491 Less: Net income attributable to non-controlling interests — — 447 — 447 Net income attributable to Alere Inc. and Subsidiaries 229,491 45,040 159,356 (204,843 ) 229,044 Preferred stock dividends (10,559 ) — — — (10,559 ) Net income available to common stockholders $ 218,932 $ 45,040 $ 159,356 $ (204,843 ) $ 218,485 CONSOLIDATING STATEMENT OF OPERATIONS For the Six Months Ended June 30, 2014 (in thousands) Non - Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net product sales $ — $ 408,623 $ 694,395 $ (111,341 ) $ 991,677 Services revenue — 233,087 36,057 — 269,144 Net product sales and services revenue — 641,710 730,452 (111,341 ) 1,260,821 License and royalty revenue — 7,319 11,020 (6,523 ) 11,816 Net revenue — 649,029 741,472 (117,864 ) 1,272,637 Cost of net product sales 1,379 230,460 386,795 (103,966 ) 514,668 Cost of services revenue 143 141,701 16,675 (12,265 ) 146,254 Cost of net product sales and services revenue 1,522 372,161 403,470 (116,231 ) 660,922 Cost of license and royalty revenue — 139 9,048 (6,523 ) 2,664 Cost of net revenue 1,522 372,300 412,518 (122,754 ) 663,586 Gross profit (loss) (1,522 ) 276,729 328,954 4,890 609,051 Operating expenses: Research and development 12,778 30,435 32,916 — 76,129 Sales and marketing 5,064 121,114 142,667 — 268,845 General and administrative 44,708 82,527 106,957 — 234,192 Loss on disposition — 638 — — 638 Operating income (loss) (64,072 ) 42,015 46,414 4,890 29,247 Interest expense, including amortization of original issue discounts and deferred financing costs (102,643 ) (10,513 ) (9,134 ) 18,346 (103,944 ) Other income (expense), net 7,117 11,032 10,506 (18,404 ) 10,251 Income (loss) from continuing operations before provision (benefit) for income taxes (159,598 ) 42,534 47,786 4,832 (64,446 ) Provision (benefit) for income taxes (45,293 ) 29,239 18,179 1,659 3,784 Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax (114,305 ) 13,295 29,607 3,173 (68,230 ) Equity in earnings of subsidiaries, net of tax 47,665 232 — (47,897 ) — Equity earnings of unconsolidated entities, net of tax 827 — 6,737 (125 ) 7,439 Income (loss) from continuing operations (65,813 ) 13,527 36,344 (44,849 ) (60,791 ) Income (loss) from discontinued operations, net of tax 15,341 (5,803 ) 781 — 10,319 Net income (loss) (50,472 ) 7,724 37,125 (44,849 ) (50,472 ) Less: Net income attributable to non-controlling interests — — 170 — 170 Net income (loss) attributable to Alere Inc. and Subsidiaries (50,472 ) 7,724 36,955 (44,849 ) (50,642 ) Preferred stock dividends (10,559 ) — — — (10,559 ) Net income (loss) available to common stockholders $ (61,031 ) $ 7,724 $ 36,955 $ (44,849 ) $ (61,201 ) CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended June 30, 2015 (in thousands) Non- Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net income $ 20,263 $ 43,856 $ 88,786 $ (132,642 ) $ 20,263 Other comprehensive income, before tax: Changes in cumulative translation adjustment 196 689 45,841 — 46,726 Minimum pension liability adjustment — — (374 ) — (374 ) Other comprehensive income, before tax 196 689 45,467 — 46,352 Income tax benefit related to items of other comprehensive income — — — — — Other comprehensive income, net of tax 196 689 45,467 — 46,352 Comprehensive income 20,459 44,545 134,253 (132,642 ) 66,615 Less: Comprehensive income attributable to non-controlling interests — — 359 — 359 Comprehensive income attributable to Alere Inc. and Subsidiaries $ 20,459 $ 44,545 $ 133,894 $ (132,642 ) $ 66,256 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the Three Months Ended June 30, 2014 (in thousands) Non- Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ (45,026 ) $ (1,179 ) $ 13,461 $ (12,282 ) $ (45,026 ) Other comprehensive income, before tax: Changes in cumulative translation adjustment 89 55 37,671 — 37,815 Unrealized gains on hedging instruments — — 6 — 6 Minimum pension liability adjustment — — (87 ) — (87 ) Other comprehensive income, before tax 89 55 37,590 — 37,734 Income tax provision (benefit) related to items of other comprehensive loss — — — — — Other comprehensive income, net of tax 89 55 37,590 — 37,734 Comprehensive income (loss) (44,937 ) (1,124 ) 51,051 (12,282 ) (7,292 ) Less: Comprehensive income attributable to non-controlling interests — — 62 — 62 Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries $ (44,937 ) $ (1,124 ) $ 50,989 $ (12,282 ) $ (7,354 ) CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Six Months Ended June 30, 2015 (in thousands) Non- Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net income $ 229,491 $ 45,040 $ 159,803 $ (204,843 ) $ 229,491 Other comprehensive income (loss), before tax: Changes in cumulative translation adjustment (461 ) 117 (33,272 ) — (33,616 ) Minimum pension liability adjustment — — (1,756 ) — (1,756 ) Other comprehensive income (loss), before tax (461 ) 117 (35,028 ) — (35,372 ) Income tax benefit related to items of other comprehensive income (loss) — — — — — Other comprehensive income (loss), net of tax (461 ) 117 (35,028 ) — (35,372 ) Comprehensive income 229,030 45,157 124,775 (204,843 ) 194,119 Less: Comprehensive income attributable to non-controlling interests — — 447 — 447 Comprehensive income attributable to Alere Inc. and Subsidiaries $ 229,030 $ 45,157 $ 124,328 $ (204,843 ) $ 193,672 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the Six Months Ended June 30, 2014 (in thousands) Non- Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ (50,472 ) $ 7,724 $ 37,125 $ (44,849 ) $ (50,472 ) Other comprehensive income (loss), before tax: Changes in cumulative translation adjustment 246 (74 ) 26,303 — 26,475 Unrealized losses on available for sale securities — (17 ) — — (17 ) Unrealized gains on hedging instruments — — 14 — 14 Minimum pension liability adjustment — — (13 ) — (13 ) Other comprehensive income (loss), before tax 246 (91 ) 26,304 — 26,459 Income tax benefit related to items of other comprehensive loss — — — — — Other comprehensive income (loss), net of tax 246 (91 ) 26,304 — 26,459 Comprehensive income (loss) (50,226 ) 7,633 63,429 (44,849 ) (24,013 ) Less: Comprehensive income attributable to non-controlling interests — — 170 — 170 Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries $ (50,226 ) $ 7,633 $ 63,259 $ (44,849 ) $ (24,183 ) CONSOLIDATING BALANCE SHEET June 30, 2015 (in thousands) Guarantor Non-Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 42,407 $ 75,005 $ 347,459 $ — $ 464,871 Restricted cash 427,181 — 34,455 — 461,636 Marketable securities — 175 — — 175 Accounts receivable, net of allowances — 197,643 275,043 — 472,686 Inventories, net — 199,654 188,133 (21,447 ) 366,340 Deferred tax assets (36,568 ) 29,165 27,908 (2,120 ) 18,385 Prepaid expenses and other current assets 14,217 23,036 81,554 6,752 125,559 Assets held for sale – current — — 28,631 — 28,631 Intercompany receivables 573,462 660,375 66,677 (1,300,514 ) — Total current assets 1,020,699 1,185,053 1,049,860 (1,317,329 ) 1,938,283 Property, plant and equipment, net 30,663 225,914 191,877 (152 ) 448,302 Goodwill — 1,795,118 1,058,433 — 2,853,551 Other intangible assets with indefinite lives — 8,200 33,165 (59 ) 41,306 Finite-lived intangible assets, net 5,194 660,561 427,431 — 1,093,186 Deferred financing costs, net and other non-current assets 46,331 4,574 16,928 (99 ) 67,734 Investments in subsidiaries 3,368,524 179,853 58,321 (3,606,698 ) — Investments in unconsolidated entities 503 14,765 39,919 14,407 69,594 Deferred tax assets — — 7,633 — 7,633 Non-current income tax receivable 2,611 — — — 2,611 Assets held for sale – non-current 12,363 — 116,831 — 129,194 Intercompany notes receivables 2,047,832 694,785 15,779 (2,758,396 ) — Total assets $ 6,534,720 $ 4,768,823 $ 3,016,177 $ (7,668,326 ) $ 6,651,394 LIABILITIES AND EQUITY Current liabilities: Short-term debt and current portion of long-term debt $ 601,712 $ — $ 27,659 $ — $ 629,371 Current portion of capital lease obligations — 1,809 2,834 — 4,643 Accounts payable 13,949 75,026 97,966 — 186,941 Accrued expenses and other current liabilities (516,724 ) 633,878 189,852 2,388 309,394 Liabilities related to assets held for sale – current 6,996 (6,996 ) 7,663 — 7,663 Intercompany payables 847,581 232,066 220,866 (1,300,513 ) — Total current liabilities 953,514 935,783 546,840 (1,298,125 ) 1,138,012 Long-term liabilities: Long-term debt, net of current portion 2,951,161 — 6,875 — 2,958,036 Capital lease obligations, net of current portion — 2,070 4,843 — 6,913 Deferred tax liabilities (53,700 ) 216,438 64,671 82 227,491 Other long-term liabilities 41,758 64,920 39,662 (100 ) 146,240 Liabilities related to assets held for sale – non-current — — 11,527 — 11,527 Intercompany notes payables 483,405 1,222,259 1,052,732 (2,758,396 ) — Total long-term liabilities 3,422,624 1,505,687 1,180,310 (2,758,414 ) 3,350,207 Total stockholders’ equity 2,158,582 2,327,353 1,284,434 (3,611,787 ) 2,158,582 Non-controlling interests — — 4,593 — 4,593 Total equity 2,158,582 2,327,353 1,289,027 (3,611,787 ) 2,163,175 Total liabilities and equity $ 6,534,720 $ 4,768,823 $ 3,016,177 $ (7,668,326 ) $ 6,651,394 CONSOLIDATING BALANCE SHEET December 31, 2014 (in thousands) Issuer Guarantor Non-Guarantor Eliminations Consolidated 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 – current 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 – current 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 Total 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 Six Months Ended June 30, 2015 (in thousands) Issuer Guarantor Non-Guarantor Eliminations Consolidated Cash Flows from Operating Activities: Net income $ 229,491 $ 45,040 $ 159,803 $ (204,843 ) $ 229,491 Income (loss) from discontinued operations, net of tax. 218,689 (1,912 ) — — 216,777 Income from continuing operations 10,802 46,952 159,803 (204,843 ) 12,714 Adjustments to reconcile net income from continuing operations to net cash provided by (used in) operating activities: Equity in earnings of subsidiaries, net of tax (205,553 ) — — 205,553 — Non-cash interest expense, including amortization of original issue discounts and deferred financing costs 7,728 13 43 — 7,784 Depreciation and amortization 3,840 82,576 60,560 35 147,011 Non-cash stock-based compensation expense 6,458 2,633 3,188 — 12,279 Impairment of inventory — 133 (65 ) — 68 Impairment of long-lived assets — 64 323 — 387 Loss on disposition of fixed assets — 2,764 554 — 3,318 Equity earnings of unconsolidated entities, net of tax (1,346 ) — (3,992 ) 18 (5,320 ) Gain on sales of marketable securities. — (8 ) — — (8 ) Deferred income taxes (8,686 ) (30,581 ) (1,826 ) 438 (40,655 ) (Gain) loss related to impairment and net (gain) loss on dispositions 80,901 (8,804 ) (31,763 ) — 40,334 Loss on extinguishment of debt 3,480 — — — 3,480 Other non-cash items (159 ) (1,497 ) (676 ) — (2,332 ) Non-cash change in fair value of contingent purchase price consideration (30,895 ) 15,748 (37,720 ) — (52,867 ) Changes in assets and liabilities, net of acquisitions: Accounts receivable, net — (5,779 ) (21,685 ) — (27,464 ) Inventories, net — (26,943 ) (17,739 ) (1,411 ) (46,093 ) Prepaid expenses and other current assets (3,052 ) (19,127 ) 810 (5,708 ) (27,077 ) Accounts payable (7,499 ) (11,331 ) (4,421 ) — (23,251 ) Accrued expenses and other current liabilities (8,944 ) 59,310 (26,607 ) 3,898 27,657 Other non-current liabilities 915 5,278 (1,783 ) 1,615 6,025 Cash paid for contingent purchase price consideration (3,768 ) — (13 ) — (3,781 ) Intercompany payable (receivable) 127,569 (101,515 ) (26,054 ) — — Net cash provided by (used in) continuing operations (28,209 ) 9,886 50,937 (405 ) 32,209 Net cash provided by discontinued operations — 318 — — 318 Net cash provided by (used in) operating activities (28,209 ) 10,204 50,937 (405 ) 32,527 Cash Flows from Investing Activities: Increase in restricted cash (422,169 ) — (1,856 ) — (424,025 ) Purchases of property, plant and equipment (5,147 ) (19,386 ) (23,907 ) 1,156 (47,284 ) Proceeds from sale of property, plant and equipment — 738 1,199 (817 ) 1,120 Cash received from (used in) disposition, net of cash divested 593,217 (8,723 ) 2,131 — 586,625 Cash received from equity method investments 2,205 — 12,092 — 14,297 Cash received from sales of marketable securities. — 93 — — 93 Decrease in other assets 348 409 927 66 1,750 Net cash provided by (used in) continuing operations 168,454 (26,869 ) (9,414 ) 405 132,576 Net cash used in discontinued operations — (209 ) — — (209 ) Net cash provided by (used in) investing activities 168,454 (27,078 ) (9,414 ) 405 132,367 Cash Flows from Financing Activities: Cash paid for financing costs (15,731 ) — — — (15,731 ) Cash paid for contingent purchase price consideration (5,503 ) — (870 ) — (6,373 ) Proceeds from issuance of common stock, net of issuance costs 56,332 — — — 56,332 Proceeds from issuance of long-term debt 2,119,125 — 2,726 — 2,121,851 Payments on short-term debt — — (584 ) — (584 ) Payments on long-term debt (2,117,875 ) — (389 ) — (2,118,264 ) Net payments under revolving credit facilities (127,000 ) — 680 — (126,320 ) Cash paid for dividends (10,646 ) — — — (10,646 ) Excess tax benefits on exercised stock options 1,311 893 307 — 2,511 Principal payments on capital lease obligations — (1,263 ) (1,647 ) — (2,910 ) Net cash provided by (used in) continuing operations (99,987 ) (370 ) 223 — (100,134 ) Net cash used in discontinued operations — (76 ) — — (76 ) Net cash provided by (used in) financing activities (99,987 ) (446 ) 223 — (100,210 ) Foreign exchange effect on cash and cash equivalents — (129 ) (1,445 ) — (1,574 ) Net increase (decrease) in cash and cash equivalents 40,258 (17,449 ) 40,301 — 63,110 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 $ 42,407 $ 75,005 $ 347,459 $ — $ 464,871 CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2014 (in thousands) Issuer Guarantor Non-Guarantor Eliminations Consolidated Cash Flows from Operating Activities: Net income (loss) $ (50,472 ) $ 7,724 $ 37,125 $ (44,849 ) $ (50,472 ) Income (loss) from discontinued operations, net of tax 15,341 (5,803 ) 781 — 10,319 Income (loss) from continuing operations (65,813 ) 13,527 36,344 (44,849 ) (60,791 ) Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: Equity in earnings of subsidiaries, net of tax (47,665 ) (232 ) — 47,897 — Tax benefit related to discontinued operations retained by Alere Inc. — 3,477 (487 ) — 2,990 Non-cash interest expense, including amortization of original issue discounts and deferred financing costs 7,715 22 189 — 7,926 Depreciation and amortization 3,066 88,108 76,418 47 167,639 Non-cash stock-based compensation expense 752 2,352 1,478 — 4,582 Impairment of inventory — — 589 — 589 Impairment of long-lived assets — — 1,491 — 1,491 Loss on disposition of fixed assets — 3,035 230 — 3,265 Equity earnings of unconsolidated entities, net of tax (827 ) — (6,737 ) 125 (7,439 ) Deferred income taxes (22,249 ) (4,743 ) (8,561 ) 1,659 (33,894 ) Loss related to impairment and net loss on dispositions — 638 — — 638 Other non-cash items — 2,247 (7,508 ) — (5,261 ) Non-cash change in fair value of contingent purchase price consideration (157 ) 12,903 3,983 — 16,729 Changes in assets and liabilities, net of acquisitions: Accounts receivable, net — (8,900 ) 23,968 — 15,068 Inventories, net — (10,786 ) 182 (4,725 ) (15,329 ) Prepaid expenses and other current assets (38,974 ) 36,047 5,952 (2,362 ) 663 Accounts payable (3,153 ) 18,760 14,830 — 30,437 Accrued expenses and other current liabilities 17,304 (9,220 ) (10,496 ) (1,357 ) (3,769 ) Other non-current liabilities 2,221 345 93 3,718 6,377 Cash paid for contingent purchase price consideration (20,124 ) — (81 ) — (20,205 ) Intercompany payable (receivable) 207,786 (146,084 ) (61,702 ) — — Net cash provided by continuing operations 39,882 1,496 70,175 153 111,706 Net cash provided by discontinued operations — 12,785 613 — 13,398 Net cash provided by operating activities 39,882 14,281 70,788 153 125,104 Cash Flows from Investing Activities: Increase in restricted cash (1,424 ) — (2,610 ) — (4,034 ) Purchases of property, plant and equipment (11,770 ) (20,863 ) (17,318 ) 2,668 (47,283 ) Proceeds from sale of property, plant and equipment 268 670 2,310 (2,755 ) 493 Cash received from disposition, net of cash divested — 1,081 4,373 — 5,454 Cash paid for business acquisitions, net of cash acquired (75 ) — — — (75 ) Cash received from equity method investments 980 — — — 980 Cash received from sales of marketable securities — 39 — — 39 Cash received (paid) for investments (503 ) (278 ) 2 — (779 ) (Increase) decrease in other assets (311 ) 196 920 59 864 Net cash used in continuing operations (12,835 ) (19,155 ) (12,323 ) (28 ) (44,341 ) Net cash used in discontinued operations — (6,769 ) — — (6,769 ) Net cash used in investing activities (12,835 ) (25,924 ) (12,323 ) (28 ) (51,110 ) Cash Flows from Financing Activities: Cash paid for financing costs (5 ) — — — (5 ) Cash paid for contingent purchase price consideration (15,355 ) — (264 ) — (15,619 ) Proceeds from issuance of common stock, net of issuance costs 21,121 — — — 21,121 Payments on long-term debt (30,000 ) (148 ) (1,579 ) — (31,727 ) Proceeds from issuance of short-term debt — — 806 — 806 Net proceeds under revolving credit facilities — — 111 — 111 Cash paid for dividends (10,646 ) — — — (10,646 ) Excess tax benefits on exercised stock options 65 282 68 — 415 Principal payments on capital lease obligations — (1,462 ) (1,577 ) — (3,039 ) Net cash used in continuing operations (34,820 ) (1,328 ) (2,435 ) — (38,583 ) Net cash used in discontinued operations (150 ) (17 ) — — (167 ) Net cash used in financing activities (34,970 ) (1,345 ) (2,435 ) — (38,750 ) Foreign exchange effect on cash and cash equivalents 8 (79 ) 1,846 (125 ) 1,650 Net increase (decrease) in cash and cash equivalents (7,915 ) (13,067 ) 57,876 — 36,894 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 6,886 72,385 319,530 — 398,801 Less: Cash and cash equivalents of discontinued operations, end of period — 8,647 — — 8,647 Cash and cash equivalents of continuing operations at end of period $ 6,886 $ 63,738 $ 319,530 $ — $ 390,154 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Subsequent Event | (25) Subsequent Event Acquisition of US Diagnostics, Inc. On July 10, 2015, we acquired substantially all of the assets of US Diagnostics, Inc., or USD, for $60.0 million in cash. USD is a leading provider of drug testing devices and the results of the operations of these assets will be reported in our professional diagnostics segment from the date of the acquisition. We do not expect the results of this acquisition to have a material impact on our financial statements. |
Basis of Presentation of Fina30
Basis of Presentation of Financial Information (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [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 Amendment No. 2 to our Annual Report on Form 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. 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 and six months ended June 30, 2014 has been retroactively adjusted to reflect this change in reporting segments. Certain reclassifications of prior period amounts have been made in order to retrospectively present discontinued operations. These reclassifications have no effect on net income or equity. 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 June 30, 2015, our cash equivalents consisted of money market funds. |
Revision of Previously Report31
Revision of Previously Reported Amounts (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Revised Consolidated Statement of Operations | Three Months Ended June 30, 2014 Revised Consolidated Statement of Operations (in thousands, except per share data) As Previously Reported, Adjustment As Revised Net product sales $ 500,118 $ 240 $ 500,358 Net product sales and services revenue $ 640,554 $ 240 $ 640,794 Net revenue $ 647,158 $ 240 $ 647,398 Cost of net product sales $ 272,192 $ (505 ) $ 271,687 Cost of service revenue $ 74,467 $ 1,426 $ 75,893 Cost of net product sales and services revenue $ 346,659 $ 921 $ 347,580 Cost of net revenue $ 347,784 $ 921 $ 348,705 Gross profit $ 299,374 $ (681 ) $ 298,693 General and administrative $ 131,748 $ (1,175 ) $ 130,573 Operating loss $ (6,243 ) $ 494 $ (5,749 ) Other income (expense), net $ 3,131 $ 88 $ 3,219 Loss from continuing operations before benefit for income taxes $ (55,146 ) $ 582 $ (54,564 ) Benefit for income taxes $ 5,454 $ 10 $ 5,464 Loss from continuing operations before equity earnings of unconsolidated entities, net of tax $ (60,600 ) $ 572 $ (60,028 ) Loss from continuing operations $ (58,513 ) $ 572 $ (57,941 ) Net loss $ (45,598 ) $ 572 $ (45,026 ) Net loss attributable to Alere Inc. and Subsidiaries $ (45,660 ) $ 572 $ (45,088 ) Net loss available to common stockholders $ (50,969 ) $ 572 $ (50,397 ) Basic and diluted loss per common share: Loss from continuing operations $ (0.77 ) $ — $ (0.77 ) Basic and diluted net loss per common share: Net loss per common share $ (0.62 ) $ 0.01 $ (0.61 ) Six Months Ended June 30, 2014 Revised Consolidated Statement of Operations (in thousands, except per As Previously Reported, Adjustment As Revised Net product sales $ 991,437 $ 240 $ 991,677 Net product sales and services revenue $ 1,260,581 $ 240 $ 1,260,821 Net revenue $ 1,272,397 $ 240 $ 1,272,637 Cost of net product sales $ 515,718 $ (1,050 ) $ 514,668 Cost of service revenue $ 143,364 $ 2,890 $ 146,254 Cost of net product sales and services revenue $ 659,082 $ 1,840 $ 660,922 Cost of net revenue $ 661,746 $ 1,840 $ 663,586 Gross profit $ 610,651 $ (1,600 ) $ 609,051 General and administrative $ 241,163 $ (6,971 ) $ 234,192 Operating income $ 23,876 $ 5,371 $ 29,247 Other income (expense), net $ 8,413 $ 1,838 $ 10,251 Loss from continuing operations before benefit for income taxes $ (71,655 ) $ 7,209 $ (64,446 ) Benefit for income taxes $ 296 $ 3,488 $ 3,784 Loss from continuing operations before equity earnings of unconsolidated entities, net of tax $ (71,951 ) $ 3,721 $ (68,230 ) Loss from continuing operations $ (64,512 ) $ 3,721 $ (60,791 ) Net loss $ (54,193 ) $ 3,721 $ (50,472 ) Net loss attributable to Alere Inc. and Subsidiaries $ (54,363 ) $ 3,721 $ (50,642 ) Net loss available to common stockholders $ (64,922 ) $ 3,721 $ (61,201 ) Basic and diluted loss per common share: Loss from continuing operations $ (0.91 ) $ 0.04 $ (0.87 ) Basic and diluted net loss per common share: Net loss per common share $ (0.79 ) $ 0.05 $ (0.74 ) |
Revised Consolidated Statement of Comprehensive Income (Loss) | Three Months Ended June 30, 2014 Revised Consolidated Statement of Comprehensive Loss (in thousands) As Previously Reported, Adjustment As Revised Net loss $ (45,598 ) $ 572 $ (45,026 ) Comprehensive loss $ (7,864 ) $ 572 $ (7,292 ) Comprehensive loss attributable to Alere Inc. and Subsidiaries $ (7,926 ) $ 572 $ (7,354 ) Six Months Ended June 30, 2014 Revised Consolidated Statement of Comprehensive Loss (in thousands) As Previously Reported, Adjustment As Revised Net loss $ (54,193 ) $ 3,721 $ (50,472 ) Comprehensive loss $ (27,734 ) $ 3,721 $ (24,013 ) Comprehensive loss attributable to Alere Inc. and Subsidiaries $ (27,904 ) $ 3,721 $ (24,183 ) |
Revised Consolidated Statement of Cash Flows | Six Months Ended June 30, 2014 Revised Consolidated Statement of Cash Flows (in thousands) As Previously Reported, Adjustment As Revised Net loss $ (54,193 ) $ 3,721 $ (50,472 ) Loss from continuing operations $ (64,512 ) $ (3,721 ) $ (60,791 ) Deferred income taxes $ (36,524 ) $ 2,630 $ (33,894 ) Accounts receivable, net $ 15,308 $ (240 ) $ 15,068 Prepaid expenses and other current assets $ 2,501 $ (1,838 ) $ 663 Accrued expenses and other current liabilities $ (2,379 ) $ (1,390 ) $ (3,769 ) Other non-current liabilities $ 4,723 $ 1,654 $ 6,377 Non-cash change in fair value of contingent consideration $ 21,329 $ (4,600 ) $ 16,729 Net cash provided by continuing operations $ 111,769 $ (63 ) $ 111,706 Net cash provided by operating activities $ 125,167 $ (63 ) $ 125,104 Purchases of property, plant and equipment $ (47,346 ) $ 63 $ (47,283 ) Net cash used in continuing operations $ (44,404 ) $ 63 $ (44,341 ) Net cash used in investing activities $ (51,173 ) $ 63 $ (51,110 ) |
Assets Held for Sale (Tables)
Assets Held for Sale (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 the six months ended June 30, 2015, given our January 9, 2015 divestiture of this business. The results of the ACS Companies are included in the three and six months ended June 30, 2014, given our October 31, 2014 divestiture of this business. The results are as follows (in thousands): Three Months Six Months Ended June 30, 2014 2015 2014 Net revenue $ 90,785 $ 7,373 $ 182,168 Cost of net revenue (50,240 ) (4,413 ) (101,660 ) Sales and marketing (14,862 ) (996 ) (28,882 ) General and administrative (28,198 ) (5,001 ) (58,318 ) Interest expense (117 ) (9 ) (253 ) Other income (expense), net (511 ) 160 (1,070 ) Gain on disposal — 366,191 — Income (loss) from discontinued operations before provision (benefit) for income taxes (3,143 ) 363,305 (8,015 ) Provision (benefit) for income taxes (16,058 ) 146,528 (18,334 ) Income from discontinued operations, net of tax $ 12,915 $ 216,777 $ 10,319 |
Health Management Business [Member] | |
Schedule of Assets and Liabilities Associated with 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 |
BBI Business [Member] | |
Schedule of Assets and Liabilities Associated with Business Segregated and Classified as Assets Held for Sale and Liabilities | The following assets and liabilities associated with our BBI business have been segregated and classified as assets held for sale and liabilities related to assets held for sale, as appropriate, on our consolidated balance sheet as of June 30, 2015 (in thousands): June 30, 2015 Assets Accounts receivable, net of allowances of $2,464 at June 30, 2015 $ 11,997 Inventories, net 11,770 Deferred tax assets — current 142 Prepaid expenses and other current assets 4,722 Assets held for sale — current 28,361 Property, plant and equipment, net 11,126 Goodwill 59,506 Finite-lived intangible assets, net 43,044 Other non-current assets 3,155 Assets held for sale — non-current 116,881 Liabilities Current portion of capital lease obligations $ 6 Accounts payable 3,563 Accrued expenses and other current liabilities 4,094 Liabilities related to assets held for sale — current 7,663 Capital lease obligations, net of current portion 10 Deferred tax liabilities — non-current 10,381 Other long-term liabilities 1,136 Liabilities related to assets held for sale — non-current 11,527 |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 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): June 30, 2015 December 31, 2014 Raw materials $ 131,213 $ 122,886 Work-in-process 66,360 82,724 Finished goods 168,767 159,555 $ 366,340 $ 365,165 |
Stock-based Compensation (Table
Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 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 and six months ended June 30, 2015 and 2014, respectively, as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Cost of net revenue $ 287 $ 285 $ 540 $ 572 Research and development 282 (1,811 ) 606 (620 ) Sales and marketing 1,251 967 2,345 1,858 General and administrative 5,310 (563 ) 8,788 2,772 7,130 (1,122 ) 12,279 4,582 Provision (benefit) for income taxes (2,529 ) 655 (4,902 ) (1,123 ) $ 4,601 $ (467 ) $ 7,377 $ 3,459 |
Net Income (Loss) per Common 35
Net Income (Loss) per Common Share (Tables) | 6 Months Ended |
Jun. 30, 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 periods presented (in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Basic and diluted net income (loss) per common share: Numerator Income (loss) from continuing operations $ 20,263 $ (57,941 ) $ 12,714 $ (60,791 ) Preferred stock dividends (5,309 ) (5,309 ) (10,559 ) (10,559 ) Income (loss) from continuing operations attributable to common shares 14,954 (63,250 ) 2,155 (71,350 ) Less: Net income attributable to non-controlling interest 359 62 447 170 Income (loss) from continuing operations attributable to Alere Inc. and Subsidiaries 14,595 (63,312 ) 1,708 (71,520 ) Income from discontinued operations — 12,915 216,777 10,319 Net income (loss) available to common stockholders $ 14,595 $ (50,397 ) $ 218,485 $ (61,201 ) Denominator Weighted-average common shares outstanding — basic 85,173 82,648 84,758 82,518 Weighted-average common shares outstanding — diluted 86,635 82,648 86,070 82,518 Basic net income (loss) per common share: Income (loss) from continuing operations attributable to Alere Inc. and Subsidiaries $ 0.17 $ (0.77 ) $ 0.02 $ (0.87 ) Income from discontinued operations — 0.16 2.56 0.13 Basic net income (loss) per common share $ 0.17 $ (0.61 ) $ 2.58 $ (0.74 ) Diluted net income (loss) per common share: Income (loss) from continuing operations attributable to Alere Inc. and Subsidiaries $ 0.17 $ (0.77 ) $ 0.02 $ (0.87 ) Income from discontinued operations — 0.16 2.52 0.13 Diluted net income (loss) per common share $ 0.17 $ (0.61 ) $ 2.54 $ (0.74 ) |
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 June 30, Six Months Ended June 30, 2015 2014 2015 2014 Denominator Options to purchase shares of common stock 7,627 9,380 7,627 9,380 Warrants — 4 4 4 Conversion shares related to 3% convertible senior subordinated notes 3,411 3,411 3,411 3,411 Conversion shares related to subordinated convertible promissory notes 27 27 27 27 Conversion shares related to Series B convertible preferred stock 10,239 10,239 10,239 10,239 Common stock equivalents related to the settlement of a contingent consideration obligation — 335 — 347 Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding 21,304 23,396 21,308 23,408 |
Stockholders' Equity and Non-36
Stockholders' Equity and Non-controlling Interests (Tables) | 6 Months Ended |
Jun. 30, 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 six months ended June 30, 2015 and 2014 is provided below (in thousands): Six Months Ended June 30, 2015 2014 Total Stockholders’ Equity Non- controlling Interests Total Equity Total Stockholders’ Equity Non- controlling Interests Total Equity 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 56,332 — 56,332 21,121 — 21,121 Preferred stock dividends (10,646 ) — (10,646 ) (10,646 ) — (10,646 ) Stock-based compensation expense 12,279 — 12,279 4,582 — 4,582 Excess tax benefits on exercised stock options 1,346 — 1,346 124 — 124 Net income (loss) 229,044 447 229,491 (50,642 ) 170 (50,472 ) Total other comprehensive income (loss) (35,372 ) — (35,372 ) 26,459 — 26,459 Equity, end of period $ 2,158,582 $ 4,593 $ 2,163,175 $ 2,064,254 $ 5,052 $ 2,069,306 |
Restructuring Plans (Tables)
Restructuring Plans (Tables) | 6 Months Ended |
Jun. 30, 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 and six months ended June 30, 2015 and 2014 (in thousands): Three Months Ended June 30, Six Months Ended June 30, Statement of Operations Caption 2015 2014 2015 2014 Cost of net revenue $ 896 $ 220 $ 2,399 $ 1,053 Research and development 156 3,031 649 3,031 Sales and marketing 570 4,851 1,953 6,401 General and administrative 3,231 7,278 4,122 9,293 Total operating expenses 4,853 15,380 9,123 19,778 Interest expense, including amortization of original issue discounts and deferred financing costs 6 11 13 23 Total charges $ 4,859 $ 15,391 $ 9,136 $ 19,801 |
Restructuring Activities Related to Restructuring Plans | The following table summarizes the restructuring activities related to our 2014 restructuring plans for the three and six months ended June 30, 2015 and 2014 and since inception of these restructuring plans (in thousands): Three Months Ended Six Months Ended Since Professional Diagnostics 2015 2014 2015 2014 Severance-related costs $ 1,264 $ 9,732 $ 4,064 $ 12,096 $ 31,870 Facility and transition costs 1,487 147 2,913 181 6,373 Cash charges 2,751 9,879 6,977 12,277 38,243 Fixed asset and inventory impairments 445 1,330 454 2,080 11,406 Total charges $ 3,196 $ 11,209 $ 7,431 $ 14,357 $ 49,649 Three Months Ended Six Months Ended Since Corporate and Other 2015 2014 2015 2014 Severance-related costs $ 569 $ 2,113 $ 611 $ 2,200 $ 3,512 Facility and transition costs (6 ) 1,942 (13 ) 1,950 11,322 Total cash charges $ 563 $ 4,055 $ 598 $ 4,150 $ 14,834 The following table summarizes the restructuring activities within our professional diagnostics business segment related to our active 2013, 2011and 2008 restructuring plans for the three and six months ended June 30, 2015 and 2014 and since inception of these plans (in thousands): Three Months Ended Six Months Ended Since Professional Diagnostics 2015 2014 2015 2014 Severance-related costs $ — $ 39 $ — $ 936 $ 26,926 Facility and transition costs 1,094 76 1,094 335 11,574 Other exit costs 6 11 13 23 811 Cash charges 1,100 126 1,107 1,294 39,311 Fixed asset and inventory impairments — — — — 6,776 Intangible asset impairments — — — — 686 Other non-cash charges — — — — 64 Total charges $ 1,100 $ 126 $ 1,107 $ 1,294 $ 46,837 |
Cash Activity for Restructuring Reserves | The following table summarizes our restructuring reserves related to the restructuring plans described above, of which $4.9 million is included in accrued expenses and other current liabilities and $0.8 million is included in other long-term liabilities on our consolidated balance sheets (in thousands): Severance- Facility and Other Exit Total Balance, December 31, 2014 $ 4,590 $ 9,868 $ 290 $ 14,748 Cash charges 4,537 3,913 13 8,463 Payments (7,134 ) (9,993 ) (63 ) (17,190 ) Currency adjustments (169 ) (159 ) — (328 ) Balance, June 30, 2015 $ 1,824 $ 3,629 $ 240 $ 5,693 |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Long-Term Debt Balances Outstanding | We had the following debt balances outstanding (in thousands): June 30, 2015 December 31, 2014 A term loans (1) $ 646,775 $ — B term loans (1) 1,047,386 — Prior credit facility—A term loans (2)(4) — 785,938 Prior credit facility—B term loans (3)(4) — 1,330,810 Prior credit facility—Revolving loans (4) — 127,000 7.25% Senior notes 450,000 450,000 6.5% Senior subordinated notes 425,000 425,000 6.375% Senior subordinated notes 425,000 — 8.625% Senior subordinated notes 400,000 400,000 3% Convertible senior subordinated notes 150,000 150,000 Other lines of credit 1,336 684 Other 41,910 40,828 3,587,407 3,710,260 Less: Short-term debt and current portion of long-term debt (629,371 ) (88,875 ) Long-term debt $ 2,958,036 $ 3,621,385 (1) Incurred under our secured credit facility entered into on June 18, 2015. (2) Includes “A” term loans and “Delayed Draw” term loans under our prior credit facility. (3) Includes term loans previously referred to as “Incremental B-1” term loans and “Incremental B-2” term loans under our prior credit facility, which term loans had been converted into and consolidated with the “B” term loans under our prior credit facility. (4) On May 15, 2015, we incurred an event of default under our prior credit facility as a result of our failure to timely deliver certain financial statements to our lenders thereunder. The event of default was subsequently cured and our prior credit facility was subsequently refinanced with our secured credit facility, so such event of default was not in existence on June 30, 2015. |
Long-Term Debt Interest Expense | In connection with our debt issuances, we recorded interest expense, including amortization and write-offs of deferred financing costs and original issue discounts, in our consolidated statements of operations for the three-month and six-month periods ended June 30, 2015 and 2014, respectively, as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Secured credit facility (1) $ 12,851 $ — $ 12,851 $ — Prior credit facility (2) (3) 19,726 24,859 39,188 49,621 7.25% Senior notes 8,525 8,524 17,049 17,049 6.5% Senior subordinated notes 7,234 7,176 14,467 14,354 6.375% Senior subordinated notes 542 — 542 — 8.625% Senior subordinated notes 9,274 9,275 18,547 18,548 3% Senior subordinated convertible notes 1,246 1,246 2,492 2,492 Other 96 954 789 1,880 $ 59,494 $ 52,034 $ 105,925 $ 103,944 (1) Includes “A” term loans, “B” term loans and revolving line of credit loans. (2) Includes the following loans under our prior credit facility: “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 and later converted into and consolidated with the “B” term loans; and revolving line of credit loans. For the three and six months ended June 30, 2015, the amounts include $0.3 million and $0.7 million, respectively, related to the amortization of fees paid for certain debt modifications. For the three and six months ended June 30, 2014, the amounts include $0.3 million and $0.7 million, respectively, related to the amortization of fees paid for certain debt modifications. (3) Includes a $3.5 million loss on extinguishment of debt associated with our prior credit facility. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 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 June 30, Quoted Prices in Significant Other Unobservable Inputs Assets: Marketable securities $ 175 $ 175 $ — $ — Total assets $ 175 $ 175 $ — $ — Liabilities: Contingent consideration obligations (1) $ 72,907 $ — $ — $ 72,907 Total liabilities $ 72,907 $ — $ — $ 72,907 Description December 31, Quoted Prices in Significant Other Unobservable Inputs 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 six months ended June 30, 2015 were as follows (in thousands): Fair value of contingent consideration obligations, December 31, 2014 $ 139,671 Payments (11,651 ) Present value accretion and adjustments (55,125 ) Foreign currency adjustments 12 Fair value of contingent consideration obligations, June 30, 2015 $ 72,907 |
Defined Benefit Pension Plan (T
Defined Benefit Pension Plan (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Net Periodic Benefit Costs | The net periodic benefit costs are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Service cost $ — $ — $ — $ — Interest cost 231 203 460 402 Expected return on plan assets (237 ) (192 ) (472 ) (380 ) Amortization of prior service costs 339 112 675 222 Net periodic benefit cost $ 333 $ 123 $ 663 $ 244 |
Financial Information by Segm41
Financial Information by Segment (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Performance of Our Operating Segments Based on Revenue and Operating Income (Loss) | Segment information for the three and six months ended June 30, 2015 and 2014 and as of June 30, 2015 and December 31, 2014 is as follows (in thousands): Professional Consumer Corporate Total Three Months Ended June 30, 2015: Net revenue $ 604,511 $ 24,645 $ — $ 629,156 Operating income (loss) $ 115,302 $ 1,079 $ (24,544 ) $ 91,837 Impairment and (gain) loss on dispositions, net $ 5,542 $ — $ — $ 5,542 Depreciation and amortization $ 70,143 $ 725 $ 1,775 $ 72,643 Restructuring charge $ 4,290 $ — $ 563 $ 4,853 Stock-based compensation $ — $ — $ 7,130 $ 7,130 Three Months Ended June 30, 2014: Net revenue $ 625,680 $ 21,718 $ — $ 647,398 Operating income (loss) $ 13,145 $ 2,012 $ (20,906 ) $ (5,749 ) Impairment and (gain) loss on dispositions, net $ 638 $ — $ — $ 638 Depreciation and amortization $ 82,206 $ 703 $ 910 $ 83,819 Restructuring charge $ 11,325 $ — $ 4,055 $ 15,380 Stock-based compensation $ — $ — $ (1,122 ) $ (1,122 ) Six Months Ended June 30, 2015: Net revenue $ 1,190,696 $ 46,613 $ — $ 1,237,309 Operating income (loss) $ 165,092 $ 3,283 $ (49,131 ) $ 119,244 Impairment and (gain) loss on dispositions, net $ 40,334 $ — $ — $ 40,334 Depreciation and amortization $ 142,566 $ 1,436 $ 3,009 $ 147,011 Restructuring charge $ 8,525 $ — $ 598 $ 9,123 Stock-based compensation $ — $ — $ 12,279 $ 12,279 Six Months Ended June 30, 2014: Net revenue $ 1,228,617 $ 44,020 $ — $ 1,272,637 Operating income (loss) $ 68,623 $ 2,711 $ (42,087 ) $ 29,247 Impairment and (gain) loss on dispositions, net $ 638 $ — $ — $ 638 Depreciation and amortization $ 164,612 $ 1,483 $ 1,544 $ 167,639 Restructuring charge $ 15,628 $ — $ 4,150 $ 19,778 Stock-based compensation $ — $ — $ 4,582 $ 4,582 Assets: As of June 30, 2015 $ 5,903,150 $ 211,812 $ 536,432 $ 6,651,394 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 segments by groups of similar products and services for the three and six months ended June 30, 2015 and 2014 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Cardiometabolic $ 213,661 $ 209,241 $ 416,504 $ 423,204 Infectious disease 176,630 175,001 355,386 342,614 Toxicology 157,495 169,647 306,251 325,180 Other 51,031 65,187 102,163 125,803 Total professional diagnostics net product sales and services revenue 598,817 619,076 1,180,304 1,216,801 License and royalty revenue 5,694 6,604 10,392 11,816 Total professional diagnostics net revenue $ 604,511 $ 625,680 $ 1,190,696 $ 1,228,617 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2015 December 31, 2014 Accounts receivable, net of allowances $ 10,629 $ 10,465 Prepaid expenses and other current assets $ 8,363 $ 9,635 Deferred financing costs, net, and other non-current assets $ 9,432 $ 10,875 Accounts payable $ 24,163 $ 34,816 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 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 TwistDx, Inc. (1) March 11, 2010 $ 35,600 $ 103,376 2015 – 2025 (5) $ 51,600 $ 41,100 $ 5,248 Ionian Technologies, Inc. (2) July 12, 2010 $ 24,500 $ 50,000 2015 — 24,500 — DiagnosisOne, Inc. (3) July 31, 2012 $ 22,300 $ — — — 21,000 6,000 Epocal (4) February 1, 2013 $ 75,000 $ 65,500 2015 – 2018 16,300 47,200 — Other Various $ 30,373 $ — (6) 2015 – 2016 5,007 5,871 403 $ 72,907 $ 139,671 $ 11,651 (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 and $1.5 million was paid on April 3, 2015. (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) | 6 Months Ended |
Jun. 30, 2015 | |
Financial Information Combined Condensed Results of Operations | CONSOLIDATING STATEMENT OF OPERATIONS For the Three Months Ended June 30, 2015 (in thousands) Guarantor Non-Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net product sales $ — $ 212,604 $ 350,063 $ (65,833 ) $ 496,834 Services revenue — 114,983 11,645 — 126,628 Net product sales and services revenue — 327,587 361,708 (65,833 ) 623,462 License and royalty revenue — 3,233 5,710 (3,249 ) 5,694 Net revenue — 330,820 367,418 (69,082 ) 629,156 Cost of net product sales 417 120,939 194,199 (57,070 ) 258,485 Cost of services revenue 80 77,884 7,477 (8,688 ) 76,753 Cost of net product sales and services revenue 497 198,823 201,676 (65,758 ) 335,238 Cost of license and royalty revenue 19 410 4,164 (3,249 ) 1,344 Cost of net revenue 516 199,233 205,840 (69,007 ) 336,582 Gross profit (loss) (516 ) 131,587 161,578 (75 ) 292,574 Operating expenses: Research and development 3,241 13,993 9,964 — 27,198 Sales and marketing 1,570 52,101 53,513 — 107,184 General and administrative 24,390 51,288 (14,865 ) — 60,813 Impairment and (gain) loss on dispositions, net 44,378 (39,412 ) 576 — 5,542 Operating income (loss) (74,095 ) 53,617 112,390 (75 ) 91,837 Interest expense, including amortization of original issue discounts and deferred financing costs (59,086 ) (3,060 ) (4,702 ) 7,354 (59,494 ) Other income (expense), net 3,596 4,576 3,442 (7,354 ) 4,260 Income (loss) from continuing operations before provision (benefit) for income taxes (129,585 ) 55,133 111,130 (75 ) 36,603 Provision (benefit) for income taxes (16,306 ) 11,277 22,768 (38 ) 17,701 Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax (113,279 ) 43,856 88,362 (37 ) 18,902 Equity in earnings of subsidiaries, net of tax 132,620 — — (132,620 ) — Equity earnings of unconsolidated entities, net of tax 922 — 424 15 1,361 Net income 20,263 43,856 88,786 (132,642 ) 20,263 Less: Net income attributable to non-controlling interests — — 359 — 359 Net income attributable to Alere Inc. and Subsidiaries 20,263 43,856 88,427 (132,642 ) 19,904 Preferred stock dividends (5,309 ) — — — (5,309 ) Net income available to common stockholders $ 14,954 $ 43,856 $ 88,427 $ (132,642 ) $ 14,595 CONSOLIDATING STATEMENT OF OPERATIONS For the Three Months Ended June 30, 2014 (in thousands) Non - Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net product sales $ — $ 199,339 $ 358,657 $ (57,638 ) $ 500,358 Services revenue — 122,436 18,000 — 140,436 Net product sales and services revenue — 321,775 376,657 (57,638 ) 640,794 License and royalty revenue — 3,835 6,001 (3,232 ) 6,604 Net revenue — 325,610 382,658 (60,870 ) 647,398 Cost of net product sales 691 119,442 203,035 (51,481 ) 271,687 Cost of services revenue 70 73,993 8,674 (6,844 ) 75,893 Cost of net product sales and services revenue 761 193,435 211,709 (58,325 ) 347,580 Cost of license and royalty revenue — 47 4,310 (3,232 ) 1,125 Cost of net revenue 761 193,482 216,019 (61,557 ) 348,705 Gross profit (loss) (761 ) 132,128 166,639 687 298,693 Operating expenses: Research and development 7,163 15,590 14,677 — 37,430 Sales and marketing 3,196 60,175 72,430 — 135,801 General and administrative 25,952 46,458 58,163 — 130,573 Loss on disposition — 638 — — 638 Operating income (loss) (37,072 ) 9,267 21,369 687 (5,749 ) Interest expense, including amortization of original issue discounts and deferred financing costs (51,385 ) (5,019 ) (4,590 ) 8,960 (52,034 ) Other income (expense), net 2,423 5,073 4,683 (8,960 ) 3,219 Income (loss) from continuing operations before provision (benefit) for income taxes (86,034 ) 9,321 21,462 687 (54,564 ) Provision (benefit) for income taxes (12,977 ) 8,620 9,620 201 5,464 Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax (73,057 ) 701 11,842 486 (60,028 ) Equity in earnings of subsidiaries, net of tax 12,596 164 — (12,760 ) — Equity earnings of unconsolidated entities, net of tax 422 — 1,673 (8 ) 2,087 Income (loss) from continuing operations (60,039 ) 865 13,515 (12,282 ) (57,941 ) Income (loss) from discontinued operations, net of tax 15,013 (2,044 ) (54 ) — 12,915 Net income (loss) (45,026 ) (1,179 ) 13,461 (12,282 ) (45,026 ) Less: Net income attributable to non-controlling interests — — 62 — 62 Net income (loss) attributable to Alere Inc. and Subsidiaries (45,026 ) (1,179 ) 13,399 (12,282 ) (45,088 ) Preferred stock dividends (5,309 ) — — — (5,309 ) Net income (loss) available to common stockholders $ (50,335 ) $ (1,179 ) $ 13,399 $ (12,282 ) $ (50,397 ) CONSOLIDATING STATEMENT OF OPERATIONS For the Six Months Ended June 30, 2015 (in thousands) Guarantor Non-Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net product sales $ — $ 429,812 $ 673,260 $ (126,639 ) $ 976,433 Services revenue — 223,040 27,444 — 250,484 Net product sales and services revenue — 652,852 700,704 (126,639 ) 1,226,917 License and royalty revenue — 6,430 10,073 (6,111 ) 10,392 Net revenue — 659,282 710,777 (132,750 ) 1,237,309 Cost of net product sales 833 234,130 374,245 (112,086 ) 497,122 Cost of services revenue 130 151,921 15,872 (15,589 ) 152,334 Cost of net product sales and services revenue 963 386,051 390,117 (127,675 ) 649,456 Cost of license and royalty revenue (21 ) 1,218 8,208 (6,111 ) 3,294 Cost of net revenue 942 387,269 398,325 (133,786 ) 652,750 Gross profit (loss) (942 ) 272,013 312,452 1,036 584,559 Operating expenses: Research and development 5,543 28,912 20,759 — 55,214 Sales and marketing 2,830 105,328 108,105 — 216,263 General and administrative 44,913 89,058 19,533 — 153,504 Impairment and (gain) loss on dispositions, net 80,901 (8,804 ) (31,763 ) — 40,334 Operating income (loss) (135,129 ) 57,519 195,818 1,036 119,244 Interest expense, including amortization of original issue discounts and deferred financing costs (105,184 ) (6,345 ) (8,745 ) 14,349 (105,925 ) Other income (expense), net 7,243 8,875 1,221 (14,349 ) 2,990 Income (loss) from continuing operations before provision (benefit) for income taxes (233,070 ) 60,049 188,294 1,036 16,309 Provision (benefit) for income taxes (36,973 ) 13,097 32,483 308 8,915 Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax (196,097 ) 46,952 155,811 728 7,394 Equity in earnings of subsidiaries, net of tax 205,553 — — (205,553 ) — Equity earnings of unconsolidated entities, net of tax 1,346 — 3,992 (18 ) 5,320 Income from continuing operations 10,802 46,952 159,803 (204,843 ) 12,714 Income (loss) from discontinued operations, net of tax 218,689 (1,912 ) — — 216,777 Net income 229,491 45,040 159,803 (204,843 ) 229,491 Less: Net income attributable to non-controlling interests — — 447 — 447 Net income attributable to Alere Inc. and Subsidiaries 229,491 45,040 159,356 (204,843 ) 229,044 Preferred stock dividends (10,559 ) — — — (10,559 ) Net income available to common stockholders $ 218,932 $ 45,040 $ 159,356 $ (204,843 ) $ 218,485 CONSOLIDATING STATEMENT OF OPERATIONS For the Six Months Ended June 30, 2014 (in thousands) Non - Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net product sales $ — $ 408,623 $ 694,395 $ (111,341 ) $ 991,677 Services revenue — 233,087 36,057 — 269,144 Net product sales and services revenue — 641,710 730,452 (111,341 ) 1,260,821 License and royalty revenue — 7,319 11,020 (6,523 ) 11,816 Net revenue — 649,029 741,472 (117,864 ) 1,272,637 Cost of net product sales 1,379 230,460 386,795 (103,966 ) 514,668 Cost of services revenue 143 141,701 16,675 (12,265 ) 146,254 Cost of net product sales and services revenue 1,522 372,161 403,470 (116,231 ) 660,922 Cost of license and royalty revenue — 139 9,048 (6,523 ) 2,664 Cost of net revenue 1,522 372,300 412,518 (122,754 ) 663,586 Gross profit (loss) (1,522 ) 276,729 328,954 4,890 609,051 Operating expenses: Research and development 12,778 30,435 32,916 — 76,129 Sales and marketing 5,064 121,114 142,667 — 268,845 General and administrative 44,708 82,527 106,957 — 234,192 Loss on disposition — 638 — — 638 Operating income (loss) (64,072 ) 42,015 46,414 4,890 29,247 Interest expense, including amortization of original issue discounts and deferred financing costs (102,643 ) (10,513 ) (9,134 ) 18,346 (103,944 ) Other income (expense), net 7,117 11,032 10,506 (18,404 ) 10,251 Income (loss) from continuing operations before provision (benefit) for income taxes (159,598 ) 42,534 47,786 4,832 (64,446 ) Provision (benefit) for income taxes (45,293 ) 29,239 18,179 1,659 3,784 Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax (114,305 ) 13,295 29,607 3,173 (68,230 ) Equity in earnings of subsidiaries, net of tax 47,665 232 — (47,897 ) — Equity earnings of unconsolidated entities, net of tax 827 — 6,737 (125 ) 7,439 Income (loss) from continuing operations (65,813 ) 13,527 36,344 (44,849 ) (60,791 ) Income (loss) from discontinued operations, net of tax 15,341 (5,803 ) 781 — 10,319 Net income (loss) (50,472 ) 7,724 37,125 (44,849 ) (50,472 ) Less: Net income attributable to non-controlling interests — — 170 — 170 Net income (loss) attributable to Alere Inc. and Subsidiaries (50,472 ) 7,724 36,955 (44,849 ) (50,642 ) Preferred stock dividends (10,559 ) — — — (10,559 ) Net income (loss) available to common stockholders $ (61,031 ) $ 7,724 $ 36,955 $ (44,849 ) $ (61,201 ) |
Financial Information Combined Condensed Balance Sheet | CONSOLIDATING BALANCE SHEET June 30, 2015 (in thousands) Guarantor Non-Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 42,407 $ 75,005 $ 347,459 $ — $ 464,871 Restricted cash 427,181 — 34,455 — 461,636 Marketable securities — 175 — — 175 Accounts receivable, net of allowances — 197,643 275,043 — 472,686 Inventories, net — 199,654 188,133 (21,447 ) 366,340 Deferred tax assets (36,568 ) 29,165 27,908 (2,120 ) 18,385 Prepaid expenses and other current assets 14,217 23,036 81,554 6,752 125,559 Assets held for sale – current — — 28,631 — 28,631 Intercompany receivables 573,462 660,375 66,677 (1,300,514 ) — Total current assets 1,020,699 1,185,053 1,049,860 (1,317,329 ) 1,938,283 Property, plant and equipment, net 30,663 225,914 191,877 (152 ) 448,302 Goodwill — 1,795,118 1,058,433 — 2,853,551 Other intangible assets with indefinite lives — 8,200 33,165 (59 ) 41,306 Finite-lived intangible assets, net 5,194 660,561 427,431 — 1,093,186 Deferred financing costs, net and other non-current assets 46,331 4,574 16,928 (99 ) 67,734 Investments in subsidiaries 3,368,524 179,853 58,321 (3,606,698 ) — Investments in unconsolidated entities 503 14,765 39,919 14,407 69,594 Deferred tax assets — — 7,633 — 7,633 Non-current income tax receivable 2,611 — — — 2,611 Assets held for sale – non-current 12,363 — 116,831 — 129,194 Intercompany notes receivables 2,047,832 694,785 15,779 (2,758,396 ) — Total assets $ 6,534,720 $ 4,768,823 $ 3,016,177 $ (7,668,326 ) $ 6,651,394 LIABILITIES AND EQUITY Current liabilities: Short-term debt and current portion of long-term debt $ 601,712 $ — $ 27,659 $ — $ 629,371 Current portion of capital lease obligations — 1,809 2,834 — 4,643 Accounts payable 13,949 75,026 97,966 — 186,941 Accrued expenses and other current liabilities (516,724 ) 633,878 189,852 2,388 309,394 Liabilities related to assets held for sale – current 6,996 (6,996 ) 7,663 — 7,663 Intercompany payables 847,581 232,066 220,866 (1,300,513 ) — Total current liabilities 953,514 935,783 546,840 (1,298,125 ) 1,138,012 Long-term liabilities: Long-term debt, net of current portion 2,951,161 — 6,875 — 2,958,036 Capital lease obligations, net of current portion — 2,070 4,843 — 6,913 Deferred tax liabilities (53,700 ) 216,438 64,671 82 227,491 Other long-term liabilities 41,758 64,920 39,662 (100 ) 146,240 Liabilities related to assets held for sale – non-current — — 11,527 — 11,527 Intercompany notes payables 483,405 1,222,259 1,052,732 (2,758,396 ) — Total long-term liabilities 3,422,624 1,505,687 1,180,310 (2,758,414 ) 3,350,207 Total stockholders’ equity 2,158,582 2,327,353 1,284,434 (3,611,787 ) 2,158,582 Non-controlling interests — — 4,593 — 4,593 Total equity 2,158,582 2,327,353 1,289,027 (3,611,787 ) 2,163,175 Total liabilities and equity $ 6,534,720 $ 4,768,823 $ 3,016,177 $ (7,668,326 ) $ 6,651,394 CONSOLIDATING BALANCE SHEET December 31, 2014 (in thousands) Issuer Guarantor Non-Guarantor Eliminations Consolidated 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 – current 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 – current 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 Total 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 June 30, Six Months Ended June 30, Combined Condensed Results of Operations: 2015 2014 2015 2014 Net revenue $ 53,159 $ 41,203 $ 101,016 $ 90,136 Gross profit $ 34,559 $ 37,432 $ 67,830 $ 80,412 Net income after taxes $ 3,039 $ 4,328 $ 11,096 $ 15,158 |
Financial Information Combined Condensed Balance Sheet | Combined Condensed Balance Sheet: June 30, 2015 December 31, 2014 Current assets $ 75,612 $ 90,546 Non-current assets 33,292 33,697 Total assets $ 108,904 $ 124,243 Current liabilities $ 44,878 $ 35,954 Non-current liabilities 2,184 5,884 Total liabilities $ 47,062 $ 41,838 |
Guarantor Financial Informati45
Guarantor Financial Information (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Guarantor Financial Information Consolidating Statement of Comprehensive Income (Loss) | CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended June 30, 2015 (in thousands) Non- Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net income $ 20,263 $ 43,856 $ 88,786 $ (132,642 ) $ 20,263 Other comprehensive income, before tax: Changes in cumulative translation adjustment 196 689 45,841 — 46,726 Minimum pension liability adjustment — — (374 ) — (374 ) Other comprehensive income, before tax 196 689 45,467 — 46,352 Income tax benefit related to items of other comprehensive income — — — — — Other comprehensive income, net of tax 196 689 45,467 — 46,352 Comprehensive income 20,459 44,545 134,253 (132,642 ) 66,615 Less: Comprehensive income attributable to non-controlling interests — — 359 — 359 Comprehensive income attributable to Alere Inc. and Subsidiaries $ 20,459 $ 44,545 $ 133,894 $ (132,642 ) $ 66,256 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the Three Months Ended June 30, 2014 (in thousands) Non- Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ (45,026 ) $ (1,179 ) $ 13,461 $ (12,282 ) $ (45,026 ) Other comprehensive income, before tax: Changes in cumulative translation adjustment 89 55 37,671 — 37,815 Unrealized gains on hedging instruments — — 6 — 6 Minimum pension liability adjustment — — (87 ) — (87 ) Other comprehensive income, before tax 89 55 37,590 — 37,734 Income tax provision (benefit) related to items of other comprehensive loss — — — — — Other comprehensive income, net of tax 89 55 37,590 — 37,734 Comprehensive income (loss) (44,937 ) (1,124 ) 51,051 (12,282 ) (7,292 ) Less: Comprehensive income attributable to non-controlling interests — — 62 — 62 Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries $ (44,937 ) $ (1,124 ) $ 50,989 $ (12,282 ) $ (7,354 ) CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Six Months Ended June 30, 2015 (in thousands) Non- Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net income $ 229,491 $ 45,040 $ 159,803 $ (204,843 ) $ 229,491 Other comprehensive income (loss), before tax: Changes in cumulative translation adjustment (461 ) 117 (33,272 ) — (33,616 ) Minimum pension liability adjustment — — (1,756 ) — (1,756 ) Other comprehensive income (loss), before tax (461 ) 117 (35,028 ) — (35,372 ) Income tax benefit related to items of other comprehensive income (loss) — — — — — Other comprehensive income (loss), net of tax (461 ) 117 (35,028 ) — (35,372 ) Comprehensive income 229,030 45,157 124,775 (204,843 ) 194,119 Less: Comprehensive income attributable to non-controlling interests — — 447 — 447 Comprehensive income attributable to Alere Inc. and Subsidiaries $ 229,030 $ 45,157 $ 124,328 $ (204,843 ) $ 193,672 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the Six Months Ended June 30, 2014 (in thousands) Non- Guarantor Guarantor Issuer Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ (50,472 ) $ 7,724 $ 37,125 $ (44,849 ) $ (50,472 ) Other comprehensive income (loss), before tax: Changes in cumulative translation adjustment 246 (74 ) 26,303 — 26,475 Unrealized losses on available for sale securities — (17 ) — — (17 ) Unrealized gains on hedging instruments — — 14 — 14 Minimum pension liability adjustment — — (13 ) — (13 ) Other comprehensive income (loss), before tax 246 (91 ) 26,304 — 26,459 Income tax benefit related to items of other comprehensive loss — — — — — Other comprehensive income (loss), net of tax 246 (91 ) 26,304 — 26,459 Comprehensive income (loss) (50,226 ) 7,633 63,429 (44,849 ) (24,013 ) Less: Comprehensive income attributable to non-controlling interests — — 170 — 170 Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries $ (50,226 ) $ 7,633 $ 63,259 $ (44,849 ) $ (24,183 ) |
Guarantor Financial Information Consolidating Statement of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2015 (in thousands) Issuer Guarantor Non-Guarantor Eliminations Consolidated Cash Flows from Operating Activities: Net income $ 229,491 $ 45,040 $ 159,803 $ (204,843 ) $ 229,491 Income (loss) from discontinued operations, net of tax. 218,689 (1,912 ) — — 216,777 Income from continuing operations 10,802 46,952 159,803 (204,843 ) 12,714 Adjustments to reconcile net income from continuing operations to net cash provided by (used in) operating activities: Equity in earnings of subsidiaries, net of tax (205,553 ) — — 205,553 — Non-cash interest expense, including amortization of original issue discounts and deferred financing costs 7,728 13 43 — 7,784 Depreciation and amortization 3,840 82,576 60,560 35 147,011 Non-cash stock-based compensation expense 6,458 2,633 3,188 — 12,279 Impairment of inventory — 133 (65 ) — 68 Impairment of long-lived assets — 64 323 — 387 Loss on disposition of fixed assets — 2,764 554 — 3,318 Equity earnings of unconsolidated entities, net of tax (1,346 ) — (3,992 ) 18 (5,320 ) Gain on sales of marketable securities. — (8 ) — — (8 ) Deferred income taxes (8,686 ) (30,581 ) (1,826 ) 438 (40,655 ) (Gain) loss related to impairment and net (gain) loss on dispositions 80,901 (8,804 ) (31,763 ) — 40,334 Loss on extinguishment of debt 3,480 — — — 3,480 Other non-cash items (159 ) (1,497 ) (676 ) — (2,332 ) Non-cash change in fair value of contingent purchase price consideration (30,895 ) 15,748 (37,720 ) — (52,867 ) Changes in assets and liabilities, net of acquisitions: Accounts receivable, net — (5,779 ) (21,685 ) — (27,464 ) Inventories, net — (26,943 ) (17,739 ) (1,411 ) (46,093 ) Prepaid expenses and other current assets (3,052 ) (19,127 ) 810 (5,708 ) (27,077 ) Accounts payable (7,499 ) (11,331 ) (4,421 ) — (23,251 ) Accrued expenses and other current liabilities (8,944 ) 59,310 (26,607 ) 3,898 27,657 Other non-current liabilities 915 5,278 (1,783 ) 1,615 6,025 Cash paid for contingent purchase price consideration (3,768 ) — (13 ) — (3,781 ) Intercompany payable (receivable) 127,569 (101,515 ) (26,054 ) — — Net cash provided by (used in) continuing operations (28,209 ) 9,886 50,937 (405 ) 32,209 Net cash provided by discontinued operations — 318 — — 318 Net cash provided by (used in) operating activities (28,209 ) 10,204 50,937 (405 ) 32,527 Cash Flows from Investing Activities: Increase in restricted cash (422,169 ) — (1,856 ) — (424,025 ) Purchases of property, plant and equipment (5,147 ) (19,386 ) (23,907 ) 1,156 (47,284 ) Proceeds from sale of property, plant and equipment — 738 1,199 (817 ) 1,120 Cash received from (used in) disposition, net of cash divested 593,217 (8,723 ) 2,131 — 586,625 Cash received from equity method investments 2,205 — 12,092 — 14,297 Cash received from sales of marketable securities. — 93 — — 93 Decrease in other assets 348 409 927 66 1,750 Net cash provided by (used in) continuing operations 168,454 (26,869 ) (9,414 ) 405 132,576 Net cash used in discontinued operations — (209 ) — — (209 ) Net cash provided by (used in) investing activities 168,454 (27,078 ) (9,414 ) 405 132,367 Cash Flows from Financing Activities: Cash paid for financing costs (15,731 ) — — — (15,731 ) Cash paid for contingent purchase price consideration (5,503 ) — (870 ) — (6,373 ) Proceeds from issuance of common stock, net of issuance costs 56,332 — — — 56,332 Proceeds from issuance of long-term debt 2,119,125 — 2,726 — 2,121,851 Payments on short-term debt — — (584 ) — (584 ) Payments on long-term debt (2,117,875 ) — (389 ) — (2,118,264 ) Net payments under revolving credit facilities (127,000 ) — 680 — (126,320 ) Cash paid for dividends (10,646 ) — — — (10,646 ) Excess tax benefits on exercised stock options 1,311 893 307 — 2,511 Principal payments on capital lease obligations — (1,263 ) (1,647 ) — (2,910 ) Net cash provided by (used in) continuing operations (99,987 ) (370 ) 223 — (100,134 ) Net cash used in discontinued operations — (76 ) — — (76 ) Net cash provided by (used in) financing activities (99,987 ) (446 ) 223 — (100,210 ) Foreign exchange effect on cash and cash equivalents — (129 ) (1,445 ) — (1,574 ) Net increase (decrease) in cash and cash equivalents 40,258 (17,449 ) 40,301 — 63,110 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 $ 42,407 $ 75,005 $ 347,459 $ — $ 464,871 CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2014 (in thousands) Issuer Guarantor Non-Guarantor Eliminations Consolidated Cash Flows from Operating Activities: Net income (loss) $ (50,472 ) $ 7,724 $ 37,125 $ (44,849 ) $ (50,472 ) Income (loss) from discontinued operations, net of tax 15,341 (5,803 ) 781 — 10,319 Income (loss) from continuing operations (65,813 ) 13,527 36,344 (44,849 ) (60,791 ) Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: Equity in earnings of subsidiaries, net of tax (47,665 ) (232 ) — 47,897 — Tax benefit related to discontinued operations retained by Alere Inc. — 3,477 (487 ) — 2,990 Non-cash interest expense, including amortization of original issue discounts and deferred financing costs 7,715 22 189 — 7,926 Depreciation and amortization 3,066 88,108 76,418 47 167,639 Non-cash stock-based compensation expense 752 2,352 1,478 — 4,582 Impairment of inventory — — 589 — 589 Impairment of long-lived assets — — 1,491 — 1,491 Loss on disposition of fixed assets — 3,035 230 — 3,265 Equity earnings of unconsolidated entities, net of tax (827 ) — (6,737 ) 125 (7,439 ) Deferred income taxes (22,249 ) (4,743 ) (8,561 ) 1,659 (33,894 ) Loss related to impairment and net loss on dispositions — 638 — — 638 Other non-cash items — 2,247 (7,508 ) — (5,261 ) Non-cash change in fair value of contingent purchase price consideration (157 ) 12,903 3,983 — 16,729 Changes in assets and liabilities, net of acquisitions: Accounts receivable, net — (8,900 ) 23,968 — 15,068 Inventories, net — (10,786 ) 182 (4,725 ) (15,329 ) Prepaid expenses and other current assets (38,974 ) 36,047 5,952 (2,362 ) 663 Accounts payable (3,153 ) 18,760 14,830 — 30,437 Accrued expenses and other current liabilities 17,304 (9,220 ) (10,496 ) (1,357 ) (3,769 ) Other non-current liabilities 2,221 345 93 3,718 6,377 Cash paid for contingent purchase price consideration (20,124 ) — (81 ) — (20,205 ) Intercompany payable (receivable) 207,786 (146,084 ) (61,702 ) — — Net cash provided by continuing operations 39,882 1,496 70,175 153 111,706 Net cash provided by discontinued operations — 12,785 613 — 13,398 Net cash provided by operating activities 39,882 14,281 70,788 153 125,104 Cash Flows from Investing Activities: Increase in restricted cash (1,424 ) — (2,610 ) — (4,034 ) Purchases of property, plant and equipment (11,770 ) (20,863 ) (17,318 ) 2,668 (47,283 ) Proceeds from sale of property, plant and equipment 268 670 2,310 (2,755 ) 493 Cash received from disposition, net of cash divested — 1,081 4,373 — 5,454 Cash paid for business acquisitions, net of cash acquired (75 ) — — — (75 ) Cash received from equity method investments 980 — — — 980 Cash received from sales of marketable securities — 39 — — 39 Cash received (paid) for investments (503 ) (278 ) 2 — (779 ) (Increase) decrease in other assets (311 ) 196 920 59 864 Net cash used in continuing operations (12,835 ) (19,155 ) (12,323 ) (28 ) (44,341 ) Net cash used in discontinued operations — (6,769 ) — — (6,769 ) Net cash used in investing activities (12,835 ) (25,924 ) (12,323 ) (28 ) (51,110 ) Cash Flows from Financing Activities: Cash paid for financing costs (5 ) — — — (5 ) Cash paid for contingent purchase price consideration (15,355 ) — (264 ) — (15,619 ) Proceeds from issuance of common stock, net of issuance costs 21,121 — — — 21,121 Payments on long-term debt (30,000 ) (148 ) (1,579 ) — (31,727 ) Proceeds from issuance of short-term debt — — 806 — 806 Net proceeds under revolving credit facilities — — 111 — 111 Cash paid for dividends (10,646 ) — — — (10,646 ) Excess tax benefits on exercised stock options 65 282 68 — 415 Principal payments on capital lease obligations — (1,462 ) (1,577 ) — (3,039 ) Net cash used in continuing operations (34,820 ) (1,328 ) (2,435 ) — (38,583 ) Net cash used in discontinued operations (150 ) (17 ) — — (167 ) Net cash used in financing activities (34,970 ) (1,345 ) (2,435 ) — (38,750 ) Foreign exchange effect on cash and cash equivalents 8 (79 ) 1,846 (125 ) 1,650 Net increase (decrease) in cash and cash equivalents (7,915 ) (13,067 ) 57,876 — 36,894 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 6,886 72,385 319,530 — 398,801 Less: Cash and cash equivalents of discontinued operations, end of period — 8,647 — — 8,647 Cash and cash equivalents of continuing operations at end of period $ 6,886 $ 63,738 $ 319,530 $ — $ 390,154 |
Revision of Previously Report46
Revision of Previously Reported Amounts - Additional Information (Detail) - Jun. 30, 2015 - USD ($) $ in Millions | Total | Total |
Accounting Changes and Error Corrections [Abstract] | ||
Adjustment to contingent consideration obligation | $ 4.6 | $ 4.6 |
Adjustment to tax provision | $ 4.2 | $ 4.2 |
Revision of Previously Report47
Revision of Previously Reported Amounts - Revised Consolidated Statements of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ||||
Net product sales | $ 496,834 | $ 500,358 | $ 976,433 | $ 991,677 |
Net product sales and services revenue | 623,462 | 640,794 | 1,226,917 | 1,260,821 |
Net revenue | 629,156 | 647,398 | 1,237,309 | 1,272,637 |
Cost of net product sales | 258,485 | 271,687 | 497,122 | 514,668 |
Cost of service revenue | 76,753 | 75,893 | 152,334 | 146,254 |
Cost of net product sales and services revenue | 335,238 | 347,580 | 649,456 | 660,922 |
Cost of net revenue | 336,582 | 348,705 | 652,750 | 663,586 |
Gross profit | 292,574 | 298,693 | 584,559 | 609,051 |
General and administrative | 60,813 | 130,573 | 153,504 | 234,192 |
Operating income (loss) | 91,837 | (5,749) | 119,244 | 29,247 |
Other income (expense), net | 4,260 | 3,219 | 2,990 | 10,251 |
Loss from continuing operations before benefit for income taxes | 36,603 | (54,564) | 16,309 | (64,446) |
Benefit for income taxes | 17,701 | 5,464 | 8,915 | 3,784 |
Loss from continuing operations before equity earnings of unconsolidated entities, net of tax | 18,902 | (60,028) | 7,394 | (68,230) |
Loss from continuing operations | 20,263 | (57,941) | 12,714 | (60,791) |
Net loss | 20,263 | (45,026) | 229,491 | (50,472) |
Net loss attributable to Alere Inc. and Subsidiaries | 19,904 | (45,088) | 229,044 | (50,642) |
Net loss available to common stockholders | $ 14,595 | $ (50,397) | $ 218,485 | $ (61,201) |
Basic and diluted loss per common share: Loss from continuing operations | $ (0.77) | $ (0.87) | ||
Basic and diluted net loss per common share: Net loss per common share | $ (0.61) | $ (0.74) | ||
As Previously Reported, Giving Effect to the Impact of Discontinued Operations [Member] | ||||
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ||||
Net product sales | $ 500,118 | $ 991,437 | ||
Net product sales and services revenue | 640,554 | 1,260,581 | ||
Net revenue | 647,158 | 1,272,397 | ||
Cost of net product sales | 272,192 | 515,718 | ||
Cost of service revenue | 74,467 | 143,364 | ||
Cost of net product sales and services revenue | 346,659 | 659,082 | ||
Cost of net revenue | 347,784 | 661,746 | ||
Gross profit | 299,374 | 610,651 | ||
General and administrative | 131,748 | 241,163 | ||
Operating income (loss) | (6,243) | 23,876 | ||
Other income (expense), net | 3,131 | 8,413 | ||
Loss from continuing operations before benefit for income taxes | (55,146) | (71,655) | ||
Benefit for income taxes | 5,454 | 296 | ||
Loss from continuing operations before equity earnings of unconsolidated entities, net of tax | (60,600) | (71,951) | ||
Loss from continuing operations | (58,513) | (64,512) | ||
Net loss | (45,598) | (54,193) | ||
Net loss attributable to Alere Inc. and Subsidiaries | (45,660) | (54,363) | ||
Net loss available to common stockholders | $ (50,969) | $ (64,922) | ||
Basic and diluted loss per common share: Loss from continuing operations | $ (0.77) | $ (0.91) | ||
Basic and diluted net loss per common share: Net loss per common share | $ (0.62) | $ (0.79) | ||
Adjustment [Member] | ||||
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ||||
Net product sales | $ 240 | $ 240 | ||
Net product sales and services revenue | 240 | 240 | ||
Net revenue | 240 | 240 | ||
Cost of net product sales | (505) | (1,050) | ||
Cost of service revenue | 1,426 | 2,890 | ||
Cost of net product sales and services revenue | 921 | 1,840 | ||
Cost of net revenue | 921 | 1,840 | ||
Gross profit | (681) | (1,600) | ||
General and administrative | (1,175) | (6,971) | ||
Operating income (loss) | 494 | 5,371 | ||
Other income (expense), net | 88 | 1,838 | ||
Loss from continuing operations before benefit for income taxes | 582 | 7,209 | ||
Benefit for income taxes | 10 | 3,488 | ||
Loss from continuing operations before equity earnings of unconsolidated entities, net of tax | 572 | 3,721 | ||
Loss from continuing operations | 572 | 3,721 | ||
Net loss | 572 | 3,721 | ||
Net loss attributable to Alere Inc. and Subsidiaries | 572 | 3,721 | ||
Net loss available to common stockholders | $ 572 | $ 3,721 | ||
Basic and diluted loss per common share: Loss from continuing operations | $ 0 | $ 0.04 | ||
Basic and diluted net loss per common share: Net loss per common share | $ 0.01 | $ 0.05 |
Revision of Previously Report48
Revision of Previously Reported Amounts - Revised Consolidated Statements of Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Net loss | $ 20,263 | $ (45,026) | $ 229,491 | $ (50,472) |
Comprehensive loss | 66,615 | (7,292) | 194,119 | (24,013) |
Comprehensive loss attributable to Alere Inc. and Subsidiaries | $ 66,256 | (7,354) | $ 193,672 | (24,183) |
As Previously Reported, Giving Effect to the Impact of Discontinued Operations [Member] | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Net loss | (45,598) | (54,193) | ||
Comprehensive loss | (7,864) | (27,734) | ||
Comprehensive loss attributable to Alere Inc. and Subsidiaries | (7,926) | (27,904) | ||
Adjustment [Member] | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Net loss | 572 | 3,721 | ||
Comprehensive loss | 572 | 3,721 | ||
Comprehensive loss attributable to Alere Inc. and Subsidiaries | $ 572 | $ 3,721 |
Revision of Previously Report49
Revision of Previously Reported Amounts - Revised Consolidated Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Net loss | $ 20,263 | $ (45,026) | $ 229,491 | $ (50,472) | |
Loss from continuing operations | 20,263 | (57,941) | 12,714 | (60,791) | |
Deferred income taxes | (40,655) | (33,894) | |||
Accounts receivable, net | (27,464) | 15,068 | |||
Prepaid expenses and other current assets | $ 125,559 | 663 | 125,559 | 663 | $ 132,413 |
Accrued expenses and other current liabilities | 27,657 | (3,769) | |||
Other non-current liabilities | 6,025 | 6,377 | |||
Non-cash change in fair value of contingent consideration | (52,867) | 16,729 | |||
Net cash provided by continuing operations | 32,209 | 111,706 | |||
Net cash provided by operating activities | 32,527 | 125,104 | |||
Purchases of property, plant and equipment | (47,284) | (47,283) | |||
Net cash used in continuing operations | 132,576 | (44,341) | |||
Net cash used in investing activities | $ 132,367 | (51,110) | |||
As Previously Reported, Giving Effect to the Impact of Discontinued Operations [Member] | |||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Net loss | (45,598) | (54,193) | |||
Loss from continuing operations | (58,513) | (64,512) | |||
Deferred income taxes | (36,524) | ||||
Accounts receivable, net | 15,308 | ||||
Prepaid expenses and other current assets | 2,501 | 2,501 | |||
Accrued expenses and other current liabilities | (2,379) | ||||
Other non-current liabilities | 4,723 | ||||
Non-cash change in fair value of contingent consideration | 21,329 | ||||
Net cash provided by continuing operations | 111,769 | ||||
Net cash provided by operating activities | 125,167 | ||||
Purchases of property, plant and equipment | (47,346) | ||||
Net cash used in continuing operations | (44,404) | ||||
Net cash used in investing activities | (51,173) | ||||
Adjustment [Member] | |||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Net loss | 572 | 3,721 | |||
Loss from continuing operations | 572 | 3,721 | |||
Deferred income taxes | 2,630 | ||||
Accounts receivable, net | (240) | ||||
Prepaid expenses and other current assets | $ (1,838) | (1,838) | |||
Accrued expenses and other current liabilities | (1,390) | ||||
Other non-current liabilities | 1,654 | ||||
Non-cash change in fair value of contingent consideration | (4,600) | ||||
Net cash provided by continuing operations | (63) | ||||
Net cash provided by operating activities | (63) | ||||
Purchases of property, plant and equipment | 63 | ||||
Net cash used in continuing operations | 63 | ||||
Net cash used in investing activities | $ 63 |
Discontinued Operations - Addit
Discontinued Operations - Additional Information (Detail) - USD ($) | Jan. 09, 2015 | Oct. 10, 2014 |
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 - Sched
Discontinued Operations - Schedule of Assets and Liabilities Associated with Health Management Business Segregated and Classified as Assets Held for Sale and Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Assets | ||||
Cash and cash equivalents | $ 0 | $ 23,300 | $ 8,647 | $ 6,476 |
Restricted cash | 461,636 | 37,571 | ||
Goodwill | 2,853,551 | 2,926,666 | ||
Liabilities | ||||
Deferred tax liabilities - non-current | $ 227,491 | 214,639 | ||
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 - Sch52
Discontinued Operations - Schedule of Assets and Liabilities Associated with Health Management Business Segregated and Classified as Assets Held for Sale and Liabilities (Parenthetical) (Detail) $ in Thousands | Dec. 31, 2014USD ($) |
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 - Summa
Discontinued Operations - Summarized Financial Information Related to ACS Companies and Health Management Business (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Income from discontinued operations, net of tax | $ 0 | $ 12,915 | $ 216,777 | $ 10,319 |
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 | 90,785 | 7,373 | 182,168 | |
Cost of net revenue | (50,240) | (4,413) | (101,660) | |
Sales and marketing | (14,862) | (996) | (28,882) | |
General and administrative | (28,198) | (5,001) | (58,318) | |
Interest expense | (117) | (9) | (253) | |
Other income (expense), net | (511) | 160 | (1,070) | |
Gain on disposal | 0 | 366,191 | 0 | |
Income (loss) from discontinued operations before provision (benefit) for income taxes | (3,143) | 363,305 | (8,015) | |
Provision (benefit) for income taxes | (16,058) | 146,528 | (18,334) | |
Income from discontinued operations, net of tax | $ 12,915 | $ 216,777 | $ 10,319 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Cash investments maturity period | Three months or less |
Restricted Cash - Additional In
Restricted Cash - Additional Information (Detail) - USD ($) $ in Millions | Jun. 24, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Restricted Cash and Cash Equivalents Items [Line Items] | |||
Restricted cash | $ 461.6 | $ 37.6 | |
Long-term debt, Interest rate | 8.625% | ||
Debt instrument, maturity date | Oct. 1, 2015 | Oct. 1, 2015 | |
8.625% Senior Subordinated Notes [Member] | |||
Restricted Cash and Cash Equivalents Items [Line Items] | |||
Restricted cash | $ 425.9 | $ 425.9 | |
Long-term debt, Interest rate | 8.625% |
Inventories - Inventories are S
Inventories - Inventories are Stated at Lower of Cost (First In, First Out) or Market (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 131,213 | $ 122,886 |
Work-in-process | 66,360 | 82,724 |
Finished goods | 168,767 | 159,555 |
Inventories, net | $ 366,340 | $ 365,165 |
Stock-based Compensation - Stoc
Stock-based Compensation - Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $ 7,130 | $ (1,122) | $ 12,279 | $ 4,582 |
Provision (benefit) for income taxes | (2,529) | 655 | (4,902) | (1,123) |
Stock-based compensation, net of tax | 4,601 | (467) | 7,377 | 3,459 |
Cost of Net Revenue [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 287 | 285 | 540 | 572 |
Research and Development [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 282 | (1,811) | 606 | (620) |
Sales and Marketing [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 1,251 | 967 | 2,345 | 1,858 |
General and Administrative [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $ 5,310 | $ (563) | $ 8,788 | $ 2,772 |
Net Income (Loss) Per Common 58
Net Income (Loss) Per Common Share - Computation of Basic and Diluted Net Income (Loss) Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Numerator: | ||||
Income (loss) from continuing operations | $ 20,263 | $ (57,941) | $ 12,714 | $ (60,791) |
Preferred stock dividends | (5,309) | (5,309) | (10,559) | (10,559) |
Income (loss) from continuing operations attributable to common shares | 14,954 | (63,250) | 2,155 | (71,350) |
Less: Net income attributable to non-controlling interest | 359 | 62 | 447 | 170 |
Income (loss) from continuing operations attributable to Alere Inc. and Subsidiaries | 14,595 | (63,312) | 1,708 | (71,520) |
Income from discontinued operations | 0 | 12,915 | 216,777 | 10,319 |
Net income (loss) available to common stockholders | $ 14,595 | $ (50,397) | $ 218,485 | $ (61,201) |
Denominator: | ||||
Weighted-average common shares outstanding - basic | 85,173 | 82,648 | 84,758 | 82,518 |
Weighted-average common shares outstanding - diluted | 86,635 | 82,648 | 86,070 | 82,518 |
Basic net income (loss) per common share: | ||||
Income (loss) from continuing operations attributable to Alere Inc. and Subsidiaries | $ 0.17 | $ (0.77) | $ 0.02 | $ (0.87) |
Income from discontinued operations | 0 | 0.16 | 2.56 | 0.13 |
Basic net income (loss) per common share | 0.17 | (0.61) | 2.58 | (0.74) |
Diluted net income (loss) per common share: | ||||
Income (loss) from continuing operations attributable to Alere Inc. and Subsidiaries | 0.17 | (0.77) | 0.02 | (0.87) |
Income from discontinued operations | 0 | 0.16 | 2.52 | 0.13 |
Diluted net income (loss) per common share | $ 0.17 | $ (0.61) | $ 2.54 | $ (0.74) |
Net Income (Loss) Per Common 59
Net Income (Loss) Per Common Share - Potential Dilutive Securities Not Included in Calculation of Diluted Net Income (Loss) Per Common Share (Detail) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Denominator: | ||||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 21,304 | 23,396 | 21,308 | 23,408 |
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 | 7,627 | 9,380 | 7,627 | 9,380 |
Warrants [Member] | ||||
Denominator: | ||||
Total number of antidilutive potentially issuable shares of common stock excluded from diluted common shares outstanding | 0 | 4 | 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 | 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 | 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 | 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 | 335 | 0 | 347 |
Net Income (Loss) Per Common 60
Net Income (Loss) Per Common Share - Potential Dilutive Securities Not Included in Calculation of Diluted Net Income (Loss) Per Common Share (Parenthetical) (Detail) | Jun. 30, 2015 | Jun. 30, 2014 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Interest rate of debt instrument | 8.625% | |
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 Non-61
Stockholders' Equity and Non-controlling Interests - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Class of Stock [Line Items] | ||||
Preferred stock dividends | $ 5,309 | $ 5,309 | $ 10,559 | $ 10,559 |
Series B Preferred Stock [Member] | ||||
Class of Stock [Line Items] | ||||
Preferred stock dividends | 5,300 | 5,300 | 10,600 | 10,600 |
Preferred stock dividends accrued | 5,300 | 5,300 | ||
Preferred stock dividends cash paid | $ 5,300 | $ 5,300 | $ 5,300 | $ 5,300 |
Stockholders' Equity and Non-62
Stockholders' Equity and Non-controlling Interests - Summary of Changes in Stockholders' Equity and Non-controlling Interests Comprising Total Equity (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 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 | 56,332 | 21,121 | ||
Preferred stock dividends | (10,646) | (10,646) | ||
Stock-based compensation expense | 12,279 | 4,582 | ||
Excess tax benefits on exercised stock options | 1,346 | 124 | ||
Net income (loss) | $ 20,263 | $ (45,026) | 229,491 | (50,472) |
Total other comprehensive income (loss) | 46,352 | 37,734 | (35,372) | 26,459 |
Equity, end of period | 2,163,175 | 2,069,306 | 2,163,175 | 2,069,306 |
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 | 56,332 | 21,121 | ||
Preferred stock dividends | (10,646) | (10,646) | ||
Stock-based compensation expense | 12,279 | 4,582 | ||
Excess tax benefits on exercised stock options | 1,346 | 124 | ||
Net income (loss) | 229,044 | (50,642) | ||
Total other comprehensive income (loss) | (35,372) | 26,459 | ||
Equity, end of period | 2,158,582 | 2,064,254 | 2,158,582 | 2,064,254 |
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) | 447 | 170 | ||
Total other comprehensive income (loss) | 0 | 0 | ||
Equity, end of period | $ 4,593 | $ 5,052 | $ 4,593 | $ 5,052 |
Restructuring Plans - Aggregate
Restructuring Plans - Aggregate Charges Associated with Restructuring Plans Recorded in Operating Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 4,853 | $ 15,380 | $ 9,123 | $ 19,778 |
Restructuring charges | 4,859 | 15,391 | 9,136 | 19,801 |
Interest Expense, Including Amortization of Original Issue Discounts and Deferred Financing Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 6 | 11 | 13 | 23 |
Cost of Net Revenue [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 896 | 220 | 2,399 | 1,053 |
Research and Development [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 156 | 3,031 | 649 | 3,031 |
Sales and Marketing [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 570 | 4,851 | 1,953 | 6,401 |
General and Administrative [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 3,231 | 7,278 | 4,122 | 9,293 |
Total Operating Expenses [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 4,853 | $ 15,380 | $ 9,123 | $ 19,778 |
Restructuring Plans - Restructu
Restructuring Plans - Restructuring Activities Related to Restructuring Plans (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 90 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | |
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 4,853,000 | $ 15,380,000 | $ 9,123,000 | $ 19,778,000 | |
Professional Diagnostics [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 4,290,000 | 11,325,000 | 8,525,000 | 15,628,000 | |
Corporate and Other [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 563,000 | 4,055,000 | 598,000 | 4,150,000 | |
2014 Restructuring Plans [Member] | Professional Diagnostics [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 3,196,000 | 11,209,000 | 7,431,000 | 14,357,000 | $ 49,649,000 |
2014 Restructuring Plans [Member] | Professional Diagnostics [Member] | Severance-Related Costs [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 1,264,000 | 9,732,000 | 4,064,000 | 12,096,000 | 31,870,000 |
2014 Restructuring Plans [Member] | Professional Diagnostics [Member] | Facility and Transition Costs (Recoveries) [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 1,487,000 | 147,000 | 2,913,000 | 181,000 | 6,373 |
2014 Restructuring Plans [Member] | Professional Diagnostics [Member] | Cash Charges (Recoveries) [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 2,751,000 | 9,879,000 | 6,977,000 | 12,277,000 | 38,243 |
2014 Restructuring Plans [Member] | Professional Diagnostics [Member] | Fixed Asset and Inventory Impairments [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 445,000 | 1,330,000 | 454,000 | 2,080,000 | 11,406,000 |
2013 Restructuring Plans [Member] | Corporate and Other [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 563,000 | 4,055,000 | 598,000 | 4,150,000 | 14,834,000 |
2013 Restructuring Plans [Member] | Corporate and Other [Member] | Severance-Related Costs [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 569,000 | 2,113,000 | 611,000 | 2,200,000 | 3,512,000 |
2013 Restructuring Plans [Member] | Corporate and Other [Member] | Facility and Transition Costs (Recoveries) [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | (6,000) | 1,942,000 | (13,000) | 1,950,000 | 11,322,000 |
Restructuring Plan Two Thousand Thirteen Two ThousandEleven and Two Thousand Eight [Member] | Professional Diagnostics [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Other non-cash charges | 0 | 0 | 0 | 0 | 64,000 |
Restructuring charges | 1,100,000 | 126,000 | 1,107,000 | 1,294,000 | 46,837,000 |
Restructuring Plan Two Thousand Thirteen Two ThousandEleven and Two Thousand Eight [Member] | Professional Diagnostics [Member] | Severance-Related Costs [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 0 | 39,000 | 0 | 936,000 | 26,926,000 |
Restructuring Plan Two Thousand Thirteen Two ThousandEleven and Two Thousand Eight [Member] | Professional Diagnostics [Member] | Facility and Transition Costs (Recoveries) [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 1,094,000 | 76,000 | 1,094,000 | 335,000 | 11,574,000 |
Restructuring Plan Two Thousand Thirteen Two ThousandEleven and Two Thousand Eight [Member] | Professional Diagnostics [Member] | Cash Charges (Recoveries) [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 1,100,000 | 126,000 | 1,107,000 | 1,294,000 | 39,311,000 |
Restructuring Plan Two Thousand Thirteen Two ThousandEleven and Two Thousand Eight [Member] | Professional Diagnostics [Member] | Other Exit Costs [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 6,000 | 11,000 | 13,000 | 23,000 | 811,000 |
Restructuring Plan Two Thousand Thirteen Two ThousandEleven and Two Thousand Eight [Member] | Professional Diagnostics [Member] | Fixed Asset and Inventory Impairments [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 0 | 0 | 0 | 0 | 6,776,000 |
Restructuring Plan Two Thousand Thirteen Two ThousandEleven and Two Thousand Eight [Member] | Professional Diagnostics [Member] | Intangible Asset Impairments [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 0 | $ 0 | $ 0 | $ 0 | $ 686,000 |
Restructuring Plans - Additiona
Restructuring Plans - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Restructuring Cost and Reserve [Line Items] | ||
Cash charges remain unpaid | $ 5,693 | $ 14,748 |
Restructuring reserves included in accrued expenses and other current liabilities | 4,900 | |
Restructuring reserves included in other long-term liabilities | 800 | |
2014 Restructuring Plans [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Cash charges remain unpaid | 4,500 | |
Restructuring Plan Two Thousand Thirteen Two ThousandEleven and Two Thousand Eight [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Cash charges remain unpaid | 1,300 | |
Professional Diagnostics [Member] | 2014 Restructuring Plans [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Additional costs | $ 4,400 |
Restructuring Plans - Cash Acti
Restructuring Plans - Cash Activity for Restructuring Reserves (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve, Beginning Balance | $ 14,748 |
Cash charges | 8,463 |
Payments | (17,190) |
Currency adjustments | (328) |
Restructuring Reserve, Ending Balance | 5,693 |
Severance-Related Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve, Beginning Balance | 4,590 |
Cash charges | 4,537 |
Payments | (7,134) |
Currency adjustments | (169) |
Restructuring Reserve, Ending Balance | 1,824 |
Facility and Transition Costs (Recoveries) [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve, Beginning Balance | 9,868 |
Cash charges | 3,913 |
Payments | (9,993) |
Currency adjustments | (159) |
Restructuring Reserve, Ending Balance | 3,629 |
Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve, Beginning Balance | 290 |
Cash charges | 13 |
Payments | (63) |
Currency adjustments | 0 |
Restructuring Reserve, Ending Balance | $ 240 |
Debt - Debt Balances Outstandin
Debt - Debt Balances Outstanding (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 24, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | |||
Long-term debt, Total | $ 3,587,407 | $ 3,710,260 | |
Less: Short-term debt and current portion of long-term debt | (629,371) | (88,875) | |
Long-term debt | 2,958,036 | 3,621,385 | |
A Term Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Total | 646,775 | 0 | |
B Term Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Total | 1,047,386 | 0 | |
Prior Credit Facility - A Term Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Total | 0 | 785,938 | |
Prior Credit Facility - B Term Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Total | 0 | 1,330,810 | |
Prior Credit Facility Revolving Loans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Total | 0 | 127,000 | |
7.25% Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
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 | |
6.375% Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Total | 425,000 | $ 425,000 | 0 |
8.625% Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
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 | |
Other Lines of Credit [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Total | 1,336 | 684 | |
Other [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, Total | $ 41,910 | $ 40,828 |
Debt - Debt Balances Outstand68
Debt - Debt Balances Outstanding (Parenthetical) (Detail) | Jun. 30, 2015 | Jun. 24, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Debt Instrument [Line Items] | ||||
Long-term debt, Interest rate | 8.625% | |||
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% | |
6.375% Senior Subordinated Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt, Interest rate | 6.375% | 6.375% | 6.375% | 6.375% |
8.625% Senior Subordinated Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt, Interest rate | 8.625% | 8.625% | 8.625% | |
3% Convertible Senior Subordinated Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt, Interest rate | 3.00% | 3.00% | 3.00% |
Debt - Debt Interest Expense (D
Debt - Debt Interest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Debt Instrument [Line Items] | ||||
Long-term debt issuance cost | $ 59,494 | $ 52,034 | $ 105,925 | $ 103,944 |
Secured Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt issuance cost | 12,851 | 0 | 12,851 | |
Prior Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt issuance cost | 19,726 | 24,859 | 39,188 | 49,621 |
7.25% Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt issuance cost | 8,525 | 8,524 | 17,049 | 17,049 |
6.5% Senior Subordinated Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt issuance cost | 7,234 | 7,176 | 14,467 | 14,354 |
6.375% Senior Subordinated Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt issuance cost | 542 | 0 | 542 | |
8.625% Senior Subordinated Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt issuance cost | 9,274 | 9,275 | 18,547 | 18,548 |
3% Convertible Senior Subordinated Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt issuance cost | 1,246 | 1,246 | 2,492 | 2,492 |
Other [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt issuance cost | $ 96 | $ 954 | $ 789 | $ 1,880 |
Debt - Debt Interest Expense (P
Debt - Debt Interest Expense (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 24, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||||||
Long-term debt, Interest rate | 8.625% | 8.625% | ||||
Amortization fee | $ 300 | $ 300 | $ 700 | $ 700 | ||
Loss on extinguishment of debt | $ 3,480 | $ 0 | ||||
7.25% Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term debt, Interest rate | 7.25% | 7.25% | 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% | 6.50% | 6.50% | |
6.375% Senior Subordinated Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term debt, Interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% |
8.625% Senior Subordinated Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term debt, Interest rate | 8.625% | 8.625% | 8.625% | 8.625% | 8.625% | |
3% Convertible Senior Subordinated Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term debt, Interest rate | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
Debt - Secured Credit Facility
Debt - Secured Credit Facility - Additional Information (Detail) - USD ($) | Jun. 18, 2015 | Jun. 30, 2015 | Jun. 30, 2014 |
Debt Instrument [Line Items] | |||
Sublimit for the issuance of letters of credit | $ 250,000,000 | ||
Proceeds of term loans under secured credit facility | $ 2,121,851,000 | $ 0 | |
Letter of Credit [Member] | |||
Debt Instrument [Line Items] | |||
Sublimit for the issuance of letters of credit | 50,000,000 | ||
Secured Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Aggregate term loans amount under secured credit facility | 1,700,000,000 | 1,700,000,000 | |
Proceeds of term loans under secured credit facility | 1,680,000,000 | ||
A Term Loans [Member] | |||
Debt Instrument [Line Items] | |||
Aggregate term loans amount under secured credit facility | 650,000,000 | $ 650,000,000 | |
Number of installments for repayments of term loans | Nineteen consecutive quarterly installments | ||
Term loan installment | $ 8,125,000 | ||
Term loan final installment | $ 495,625,000 | ||
Consolidated secured leverage ratio Base Rate | 2.00% | ||
Consolidated secured leverage ratio Eurodollar Rate | 3.00% | ||
Lines of credit interest rate percentage | 3.19% | ||
B Term Loans [Member] | |||
Debt Instrument [Line Items] | |||
Aggregate term loans amount under secured credit facility | $ 1,050,000,000 | $ 1,050,000,000 | |
Number of installments for repayments of term loans | Twenty-seven consecutive quarterly installments | ||
Term loan installment | $ 2,625,000 | ||
Term loan final installment | $ 979,125,000 | ||
Soft call protection percentage | 101.00% | ||
Floor rate applicable to term loans based on Eurodollar rate | 1.00% | ||
Percentage of fee on the unused portion of revolving credit facility | 0.50% | ||
Lines of credit interest rate percentage | 4.25% | ||
B Term Loans [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Consolidated secured leverage ratio Base Rate | 2.00% | ||
Consolidated secured leverage ratio Eurodollar Rate | 3.00% | ||
B Term Loans [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Consolidated secured leverage ratio Base Rate | 2.25% | ||
Consolidated secured leverage ratio Eurodollar Rate | 3.25% |
Debt - Prior Credit Facility -
Debt - Prior Credit Facility - Additional Information (Detail) $ in Millions | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Prior Credit Facility [Member] | |
Debt Instrument [Line Items] | |
Aggregate outstanding principal amount | $ 1,650 |
Debt - 6.375% Senior Subordinat
Debt - 6.375% Senior Subordinated Notes - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 24, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Debt Instrument [Line Items] | ||||
Long-term debt, Total | $ 3,587,407 | $ 3,710,260 | ||
Long-term debt, Interest rate | 8.625% | |||
Percentage of aggregate principal amount redeemed | 35.00% | |||
Percentage of aggregate principal amount redeemed paid | 106.375% | |||
6.375% Senior Subordinated Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt, Total | $ 425,000 | $ 425,000 | $ 0 | |
Long-term debt, Interest rate | 6.375% | 6.375% | 6.375% | 6.375% |
Initial offering price | 100.00% | |||
Net proceeds from senior notes offering | $ 417,300 | $ 417,300 | ||
Net purchasers discount | $ 7,700 | |||
Percentage of redemption premium for period one | 4.781% | |||
Percentage of redemption premium for period two | 3.188% | |||
Percentage of redemption premium for period three | 1.594% | |||
Percentage of redemption premium for period four | 0.00% | |||
Period of redemption of notes | 90 days | |||
Percentage of aggregate principal amount outstanding | 65.00% | |||
Percentage of aggregate principal amount to be sold | 101.00% | |||
Percentage of purchase price of aggregate principal amount | 100.00% |
Debt - 8.625% Senior Subordinat
Debt - 8.625% Senior Subordinated Notes - Additional Information (Detail) - USD ($) $ in Millions | Jun. 24, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Debt Instrument [Line Items] | ||||
Long-term debt, Interest rate | 8.625% | |||
Maturity date | Oct. 1, 2015 | Oct. 1, 2015 | ||
Restricted cash | $ 461.6 | $ 37.6 | ||
8.625% Senior Subordinated Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt, Interest rate | 8.625% | |||
Debt instrument, redemption price, percentage | 102.156% | |||
Additional cash allocated to redemption fund | $ 8.6 | |||
Restricted cash | $ 425.9 | $ 425.9 | ||
6.375% Senior Subordinated Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt, Interest rate | 6.375% | 6.375% | 6.375% | 6.375% |
Net proceeds from senior notes offering | $ 417.3 | $ 417.3 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Assets and Liabilities Measured on Recurring Basis, Valuation Techniques (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Marketable securities | $ 175 | $ 259 |
Total assets | 175 | 259 |
Liabilities: | ||
Contingent consideration obligations | 72,907 | 139,671 |
Total liabilities | 72,907 | 139,671 |
Quoted Prices in Active Markets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Marketable securities | 175 | 259 |
Total assets | 175 | 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 | 72,907 | 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 | 72,907 | 139,671 |
Total liabilities | $ 72,907 | $ 139,671 |
Fair Value Measurements - Chang
Fair Value Measurements - Changes in Fair Value of Contingent Consideration Obligations (Detail) - Unobservable Inputs (Level 3) [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Fair value of contingent consideration obligations, December 31, 2014 | $ 139,671 |
Payments | (11,651) |
Present value accretion and adjustments | (55,125) |
Foreign currency adjustments | 12 |
Fair value of contingent consideration obligations, June 30, 2015 | $ 72,907 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Billions | Jun. 30, 2015 | Dec. 31, 2014 |
Debt Disclosure [Abstract] | ||
Estimated fair value of debt | $ 3.6 | $ 3.7 |
Debt, Total | $ 3.6 | $ 3.7 |
Defined Benefit Pension Plan -
Defined Benefit Pension Plan - Net Periodic Benefit Costs (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ||||
Service cost | $ 0 | $ 0 | $ 0 | $ 0 |
Interest cost | 231 | 203 | 460 | 402 |
Expected return on plan assets | (237) | (192) | (472) | (380) |
Amortization of prior service costs | 339 | 112 | 675 | 222 |
Net periodic benefit cost | $ 333 | $ 123 | $ 663 | $ 244 |
Financial Information by Segm79
Financial Information by Segment - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2015Segments | |
Segment Reporting [Abstract] | |
Number of operating segments | 4 |
Financial Information by Segm80
Financial Information by Segment - Performance of Our Operating Segments Based on Revenue and Operating Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||
Net revenue | $ 629,156 | $ 647,398 | $ 1,237,309 | $ 1,272,637 | |
Operating income (loss) | 91,837 | (5,749) | 119,244 | 29,247 | |
Impairment and (gain) loss on dispositions, net | 5,542 | 638 | 40,334 | 638 | |
Depreciation and amortization | 72,643 | 83,819 | 147,011 | 167,639 | |
Restructuring charge | 4,853 | 15,380 | 9,123 | 19,778 | |
Stock-based compensation | 7,130 | (1,122) | 12,279 | 4,582 | |
Assets | 6,651,394 | 6,651,394 | 6,651,394 | 6,651,394 | $ 6,678,956 |
Professional Diagnostics [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net revenue | 604,511 | 625,680 | 1,190,696 | 1,228,617 | |
Operating income (loss) | 115,302 | 13,145 | 165,092 | 68,623 | |
Impairment and (gain) loss on dispositions, net | 5,542 | 638 | 40,334 | 638 | |
Depreciation and amortization | 70,143 | 82,206 | 142,566 | 164,612 | |
Restructuring charge | 4,290 | 11,325 | 8,525 | 15,628 | |
Stock-based compensation | 0 | 0 | 0 | 0 | |
Assets | 5,903,150 | 5,903,150 | 6,323,944 | ||
Consumer Diagnostics [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net revenue | 24,645 | 21,718 | 46,613 | 44,020 | |
Operating income (loss) | 1,079 | 2,012 | 3,283 | 2,711 | |
Impairment and (gain) loss on dispositions, net | 0 | 0 | |||
Depreciation and amortization | 725 | 703 | 1,436 | 1,483 | |
Restructuring charge | 0 | 0 | 0 | 0 | |
Stock-based compensation | 0 | 0 | 0 | 0 | |
Assets | 211,812 | 211,812 | 216,451 | ||
Corporate and Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net revenue | 0 | 0 | 0 | 0 | |
Operating income (loss) | (24,544) | (20,906) | (49,131) | (42,087) | |
Impairment and (gain) loss on dispositions, net | 0 | 0 | |||
Depreciation and amortization | 1,775 | 910 | 3,009 | 1,544 | |
Restructuring charge | 563 | 4,055 | 598 | 4,150 | |
Stock-based compensation | $ 7,130 | (1,122) | $ 12,279 | 4,582 | |
Assets | $ 536,432 | $ 536,432 | $ 138,561 |
Financial Information by Segm81
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 ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Segment Reporting Information [Line Items] | ||||
Sales revenue net | $ 623,462 | $ 640,794 | $ 1,226,917 | $ 1,260,821 |
Total professional diagnostics net product sales and services revenue | 126,628 | 140,436 | 250,484 | 269,144 |
License and royalty revenue | 5,694 | 6,604 | 10,392 | 11,816 |
Net revenue | 629,156 | 647,398 | 1,237,309 | 1,272,637 |
Professional Diagnostics [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net revenue | 604,511 | 625,680 | 1,190,696 | 1,228,617 |
Reportable Subsegments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total professional diagnostics net product sales and services revenue | 598,817 | 619,076 | 1,180,304 | 1,216,801 |
License and royalty revenue | 5,694 | 6,604 | 10,392 | 11,816 |
Net revenue | 604,511 | 625,680 | 1,190,696 | 1,228,617 |
Reportable Subsegments [Member] | Professional Diagnostics [Member] | Cardiometabolic [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales revenue net | 213,661 | 209,241 | 416,504 | 423,204 |
Reportable Subsegments [Member] | Professional Diagnostics [Member] | Infectious Disease [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales revenue net | 176,630 | 175,001 | 355,386 | 342,614 |
Reportable Subsegments [Member] | Professional Diagnostics [Member] | Toxicology [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales revenue net | 157,495 | 169,647 | 306,251 | 325,180 |
Reportable Subsegments [Member] | Professional Diagnostics [Member] | Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales revenue net | $ 51,031 | $ 65,187 | $ 102,163 | $ 125,803 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2015CNY (¥) | May. 31, 2007 | |
Related Party Transaction [Line Items] | |||||||
Restructuring charges | $ 4,853,000 | $ 15,380,000 | $ 9,123,000 | $ 19,778,000 | |||
Restricted cash | 461,600,000 | 461,600,000 | $ 37,600,000 | ||||
SPD Joint Venture [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Joint venture ownership percentage with Procter & Gamble | 50.00% | ||||||
Net payable to SPD | 2,000,000 | 2,000,000 | 4,000,000 | ||||
Restructuring charges | 1,600,000 | 1,600,000 | |||||
Long-term receivable cost related to restructuring plan | 9,400,000 | 9,400,000 | 10,900,000 | ||||
Customer receivables associated with revenue earned after SPD was completed have been classified as other receivables | 8,400,000 | 8,400,000 | 9,600,000 | ||||
Trade receivables from SPD | 10,600,000 | 10,600,000 | 10,500,000 | ||||
Trade payable to SPD | 22,200,000 | 22,200,000 | $ 30,800,000 | ||||
SPD Joint Venture [Member] | Sales Revenue Goods [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Revenue from joint venture | 21,700,000 | 20,600,000 | 41,200,000 | 41,200,000 | |||
SPD Joint Venture [Member] | Sales Revenue Services [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Revenue from joint venture | 300,000 | $ 300,000 | 600,000 | $ 700,000 | |||
SPD Shanghai [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Restricted cash | 3,800,000 | 3,800,000 | |||||
SPD Shanghai [Member] | Maximum [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Loan arrangement from related party | $ 3,800,000 | $ 3,800,000 | ¥ 23,000,000 |
Related Party Transactions - Re
Related Party Transactions - Related Party Balances with SPD within Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Related Party Transaction [Line Items] | |||
Accounts receivable, net of allowances | $ 472,686 | $ 466,106 | |
Prepaid expenses and other current assets | 125,559 | 132,413 | $ 663 |
Deferred financing costs, net, and other non-current assets | 67,734 | 67,832 | |
Accounts payable | 186,941 | 213,592 | |
SPD Joint Venture [Member] | |||
Related Party Transaction [Line Items] | |||
Accounts receivable, net of allowances | 10,629 | 10,465 | |
Prepaid expenses and other current assets | 8,363 | 9,635 | |
Deferred financing costs, net, and other non-current assets | 9,432 | 10,875 | |
Accounts payable | $ 24,163 | $ 34,816 |
Other Arrangements - Additional
Other Arrangements - Additional Information (Detail) - USD ($) $ in Millions | Jun. 24, 2015 | Sep. 30, 2014 | Feb. 28, 2013 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 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 | $ 12.9 | ||||||
Net expenditure incurred under the contract | $ 0.9 | $ 1.4 | |||||
The amount of cash reimbursement received from BARDA | 0.6 | 0.6 | |||||
Amount of accounts receivable | 0.4 | $ 0.4 | |||||
Maturity date | Oct. 1, 2015 | Oct. 1, 2015 | |||||
Gates Foundation [Member] | |||||||
Agreements [Line Items] | |||||||
Revenue from grant awarded | $ 21.6 | ||||||
Cash received from grant-related funding | $ 19.7 | ||||||
Qualified expenditures | 1.5 | $ 0.1 | 3.6 | $ 2.2 | |||
Gates Loan Agreement [Member] | |||||||
Agreements [Line Items] | |||||||
Deferred grant fund | $ 0.3 | $ 0.3 | |||||
Aggregate principal amount of subordinated term loan | $ 20.6 | ||||||
Loan bearing interest rate | 3.00% | 3.00% | |||||
Maturity date | Dec. 31, 2019 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) $ in Millions | 1 Months Ended | 3 Months Ended |
Sep. 30, 2012Patient | Jun. 30, 2015USD ($) | |
Loss Contingencies [Line Items] | ||
Number of patients for whom claim for damages filed for inadvertent disclosure of personally identifiable information | Patient | 116,000 | |
TwistDx, Inc. [Member] | ||
Loss Contingencies [Line Items] | ||
Change in fair value of contingent consideration | $ 15.6 | |
Epocal [Member] | ||
Loss Contingencies [Line Items] | ||
Change in fair value of contingent consideration | 31.2 | |
Ionian Technologies, Inc. [Member] | ||
Loss Contingencies [Line Items] | ||
Change in fair value of contingent consideration | $ 24.5 |
Commitments and Contingencies86
Commitments and Contingencies - Contractual Contingent Purchase Price Consideration Obligations Related to Certain Acquisitions (Detail) - USD ($) | 6 Months Ended | |||
Jun. 30, 2015 | Apr. 03, 2015 | Mar. 27, 2015 | Dec. 31, 2014 | |
Business Acquisition, Contingent Consideration [Line Items] | ||||
Estimated Fair Value | $ 72,907,000 | $ 139,671,000 | ||
Payments made during 2015 | $ 11,651,000 | |||
Ionian Technologies, Inc. [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Acquisition Date | Jul. 12, 2010 | |||
Acquisition Date Fair Value | $ 24,500,000 | |||
Maximum Remaining Earn-out Potential | $ 50,000,000 | |||
Remaining Earn-out Period | 2,015 | |||
Estimated Fair Value | $ 0 | 24,500,000 | ||
Payments made during 2015 | $ 0 | |||
TwistDx, Inc. [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Acquisition Date | Mar. 11, 2010 | |||
Acquisition Date Fair Value | $ 35,600,000 | |||
Maximum Remaining Earn-out Potential | 103,376,000 | |||
Estimated Fair Value | 51,600,000 | 41,100,000 | ||
Payments made during 2015 | $ 5,248,000 | |||
TwistDx, Inc. [Member] | Minimum [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Remaining Earn-out Period | 2,015 | |||
TwistDx, Inc. [Member] | Maximum [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Remaining Earn-out Period | 2,025 | |||
DiagnosisOne, Inc. [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Acquisition Date | Jul. 31, 2012 | |||
Acquisition Date Fair Value | $ 22,300,000 | |||
Maximum Remaining Earn-out Potential | 0 | |||
Estimated Fair Value | 0 | 21,000,000 | ||
Payments made during 2015 | $ 6,000,000 | $ 1,500,000 | $ 4,500,000 | |
Epocal [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Acquisition Date | Feb. 1, 2013 | |||
Acquisition Date Fair Value | $ 75,000,000 | |||
Maximum Remaining Earn-out Potential | 65,500,000 | |||
Estimated Fair Value | 16,300,000 | 47,200,000 | ||
Payments made during 2015 | $ 0 | |||
Epocal [Member] | Minimum [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Remaining Earn-out Period | 2,015 | |||
Epocal [Member] | Maximum [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Remaining Earn-out Period | 2,018 | |||
Other [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Acquisition Date | Various | |||
Acquisition Date Fair Value | $ 30,373,000 | |||
Maximum Remaining Earn-out Potential | 0 | |||
Estimated Fair Value | 5,007,000 | $ 5,871,000 | ||
Payments made during 2015 | $ 403,000 | |||
Other [Member] | Minimum [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Remaining Earn-out Period | 2,015 | |||
Other [Member] | Maximum [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Remaining Earn-out Period | 2,016 |
Commitments and Contingencies87
Commitments and Contingencies - Contractual Contingent Purchase Price Consideration Obligations Related to Certain Acquisitions (Parenthetical) (Detail) - USD ($) $ in Thousands | 6 Months Ended | |||
Jun. 30, 2015 | Apr. 03, 2015 | Mar. 27, 2015 | Mar. 25, 2015 | |
Business Acquisition, Contingent Consideration [Line Items] | ||||
Earn-out period | 15 years | |||
Payments made under acquisition related contingent obligations | $ 11,651 | |||
Ionian Technologies, Inc. [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Earn-out period | 5 years | |||
Payments made under acquisition related contingent obligations | $ 0 | |||
DiagnosisOne, Inc. [Member] | ||||
Business Acquisition, Contingent Consideration [Line Items] | ||||
Contingent consideration remaining earn-out settlement | $ 6,000 | |||
Payments made under acquisition related contingent obligations | $ 6,000 | $ 1,500 | $ 4,500 |
Equity Investments - Additional
Equity Investments - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | May. 31, 2007 | |
Schedule of Equity Method Investments [Line Items] | |||||
Equity earnings of unconsolidated entities, net of tax | $ 1,361 | $ 2,087 | $ 5,320 | $ 7,439 | |
SPD Joint Venture [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership percentage | 50.00% | ||||
SPD [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity earnings of unconsolidated entities, net of tax | 600 | 1,800 | 4,200 | 6,900 | |
Return of capital | $ 12,100 | $ 12,100 | |||
SPD [Member] | SPD Joint Venture [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership percentage | 50.00% | 50.00% | |||
TechLab [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity earnings of unconsolidated entities, net of tax | $ 400 | $ 400 | $ 800 | $ 700 | |
Ownership percentage | 49.00% | 49.00% | |||
Return of capital | $ 2,200 | $ 2,200 | |||
TechLab [Member] | SPD Joint Venture [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Ownership percentage | 49.00% | 49.00% |
Equity Investments - Financial
Equity Investments - Financial Information for SPD and TechLab on Combined Condensed Results of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Equity Method Investments and Joint Ventures [Abstract] | ||||
Net revenue | $ 53,159 | $ 41,203 | $ 101,016 | $ 90,136 |
Gross profit | 34,559 | 37,432 | 67,830 | 80,412 |
Net income after taxes | $ 3,039 | $ 4,328 | $ 11,096 | $ 15,158 |
Equity Investments - Financia90
Equity Investments - Financial Information for SPD and TechLab on Combined Condensed Balance Sheet (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Equity Method Investments and Joint Ventures [Abstract] | ||
Current assets | $ 75,612 | $ 90,546 |
Non-current assets | 33,292 | 33,697 |
Total assets | 108,904 | 124,243 |
Current liabilities | 44,878 | 35,954 |
Non-current liabilities | 2,184 | 5,884 |
Total liabilities | $ 47,062 | $ 41,838 |
Impairment and (Gain) Loss on D
Impairment and (Gain) Loss on Dispositions, Net - Additional Information (Detail) $ in Thousands, € in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||
Apr. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Mar. 31, 2015EUR (€) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | May. 31, 2015USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Cash proceeds from sale of business | $ 586,625 | $ 5,454 | ||||||
Gesellschaft Fur Patientenhilfe Dgp Mbh [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Cash proceeds from sale of business | $ 8,200 | € 7.6 | ||||||
Loss on sale of disposal of group | 7,600 | |||||||
Glucostabilizer Business [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Cash proceeds from sale of business | $ 1,100 | |||||||
Loss on sale of disposal of group | $ 600 | |||||||
Glucostabilizer Business [Member] | Medical Decision Network Llc [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Note receivable | $ 1,500 | |||||||
Alere Analytics [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Impairment charges | 26,700 | |||||||
Write-off of intangible assets | 26,200 | |||||||
Write-off of fixed assets | 500 | |||||||
Contribution to working capital | $ 2,700 | |||||||
Gain (loss) from sale of assets | $ 4,700 | |||||||
Alere Analytics [Member] | Cash [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Contribution to working capital | 2,400 | |||||||
Alere Analytics [Member] | Escrow [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Contribution to working capital | $ 300 | |||||||
AdnaGen Gmbh [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Gain (loss) from sale of assets | 200 | |||||||
Proceeds from sale of assets | $ 4,600 | |||||||
Alere Connect Llc [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Impairment charges | $ 1,000 |
Provision (Benefit) for Incom92
Provision (Benefit) for Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Income Tax Disclosure [Abstract] | ||||
Increase in income tax provision | $ 12,300 | $ 5,100 | ||
Provision for income taxes | $ 17,701 | $ 5,464 | $ 8,915 | $ 3,784 |
Effective tax rate | 48.40% | (10.00%) | 54.70% | (5.90%) |
Guarantor Financial Informati93
Guarantor Financial Information - Additional Information (Detail) | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Debt Instrument [Line Items] | |||
Interest rate of debt instrument | 8.625% | ||
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 | 2,018 | ||
8.625% Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate of debt instrument | 8.625% | 8.625% | 8.625% |
Maturity year of debt instrument | 2,018 | ||
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 | 2,020 | ||
6.375% Senior Subordinated Notes [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate of debt instrument | 6.375% | ||
Maturity year of debt instrument | 2,023 |
Guarantor Financial Informati94
Guarantor Financial Information - Guarantor Financial Information Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Condensed Financial Statements, Captions [Line Items] | ||||
Net product sales | $ 496,834 | $ 500,358 | $ 976,433 | $ 991,677 |
Services revenue | 126,628 | 140,436 | 250,484 | 269,144 |
Net product sales and services revenue | 623,462 | 640,794 | 1,226,917 | 1,260,821 |
License and royalty revenue | 5,694 | 6,604 | 10,392 | 11,816 |
Net revenue | 629,156 | 647,398 | 1,237,309 | 1,272,637 |
Cost of net product sales | 258,485 | 271,687 | 497,122 | 514,668 |
Cost of services revenue | 76,753 | 75,893 | 152,334 | 146,254 |
Cost of net product sales and services revenue | 335,238 | 347,580 | 649,456 | 660,922 |
Cost of license and royalty revenue | 1,344 | 1,125 | 3,294 | 2,664 |
Cost of net revenue | 336,582 | 348,705 | 652,750 | 663,586 |
Gross profit (loss) | 292,574 | 298,693 | 584,559 | 609,051 |
Operating expenses: | ||||
Research and development | 27,198 | 37,430 | 55,214 | 76,129 |
Sales and marketing | 107,184 | 135,801 | 216,263 | 268,845 |
General and administrative | 60,813 | 130,573 | 153,504 | 234,192 |
Impairment and (gain) loss on dispositions, net | 5,542 | 638 | 40,334 | 638 |
Operating income (loss) | 91,837 | (5,749) | 119,244 | 29,247 |
Interest expense, including amortization of original issue discounts and deferred financing costs | (59,494) | (52,034) | (105,925) | (103,944) |
Other income (expense), net | 4,260 | 3,219 | 2,990 | 10,251 |
Income (loss) from continuing operations before provision (benefit) for income taxes | 36,603 | (54,564) | 16,309 | (64,446) |
Provision (benefit) for income taxes | 17,701 | 5,464 | 8,915 | 3,784 |
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | 18,902 | (60,028) | 7,394 | (68,230) |
Equity in earnings of subsidiaries, net of tax | 0 | 0 | ||
Equity in earnings of subsidiaries, net of tax | 0 | 0 | 0 | |
Equity earnings of unconsolidated entities, net of tax | 1,361 | 2,087 | 5,320 | 7,439 |
Income (loss) from continuing operations | 20,263 | (57,941) | 12,714 | (60,791) |
Income (loss) from discontinued operations, net of tax | 0 | 12,915 | 216,777 | 10,319 |
Net income (loss) | 20,263 | (45,026) | 229,491 | (50,472) |
Less: Net income attributable to non-controlling interests | 359 | 62 | 447 | 170 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | 19,904 | (45,088) | 229,044 | (50,642) |
Preferred stock dividends | (5,309) | (5,309) | (10,559) | (10,559) |
Net income (loss) available to common stockholders | 14,595 | (50,397) | 218,485 | (61,201) |
Issuer [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net product sales | 0 | 0 | 0 | 0 |
Services revenue | 0 | 0 | 0 | 0 |
Net product sales and services revenue | 0 | 0 | 0 | 0 |
License and royalty revenue | 0 | 0 | 0 | 0 |
Net revenue | 0 | 0 | 0 | 0 |
Cost of net product sales | 417 | 691 | 833 | 1,379 |
Cost of services revenue | 80 | 70 | 130 | 143 |
Cost of net product sales and services revenue | 497 | 761 | 963 | 1,522 |
Cost of license and royalty revenue | 19 | 0 | (21) | 0 |
Cost of net revenue | 516 | 761 | 942 | 1,522 |
Gross profit (loss) | (516) | (761) | (942) | (1,522) |
Operating expenses: | ||||
Research and development | 3,241 | 7,163 | 5,543 | 12,778 |
Sales and marketing | 1,570 | 3,196 | 2,830 | 5,064 |
General and administrative | 24,390 | 25,952 | 44,913 | 44,708 |
Impairment and (gain) loss on dispositions, net | 44,378 | 0 | 80,901 | 0 |
Operating income (loss) | (74,095) | (37,072) | (135,129) | (64,072) |
Interest expense, including amortization of original issue discounts and deferred financing costs | (59,086) | (51,385) | (105,184) | (102,643) |
Other income (expense), net | 3,596 | 2,423 | 7,243 | 7,117 |
Income (loss) from continuing operations before provision (benefit) for income taxes | (129,585) | (86,034) | (233,070) | (159,598) |
Provision (benefit) for income taxes | (16,306) | (12,977) | (36,973) | (45,293) |
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | (113,279) | (73,057) | (196,097) | (114,305) |
Equity in earnings of subsidiaries, net of tax | 12,596 | 47,665 | ||
Equity in earnings of subsidiaries, net of tax | 132,620 | 205,553 | 47,665 | |
Equity earnings of unconsolidated entities, net of tax | 922 | 422 | 1,346 | 827 |
Income (loss) from continuing operations | (60,039) | 10,802 | (65,813) | |
Income (loss) from discontinued operations, net of tax | 15,013 | 218,689 | 15,341 | |
Net income (loss) | 20,263 | (45,026) | 229,491 | (50,472) |
Less: Net income attributable to non-controlling interests | 0 | 0 | 0 | 0 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | 20,263 | (45,026) | 229,491 | (50,472) |
Preferred stock dividends | (5,309) | (5,309) | (10,559) | (10,559) |
Net income (loss) available to common stockholders | 14,954 | (50,335) | 218,932 | (61,031) |
Guarantor Subsidiaries [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net product sales | 212,604 | 199,339 | 429,812 | 408,623 |
Services revenue | 114,983 | 122,436 | 223,040 | 233,087 |
Net product sales and services revenue | 327,587 | 321,775 | 652,852 | 641,710 |
License and royalty revenue | 3,233 | 3,835 | 6,430 | 7,319 |
Net revenue | 330,820 | 325,610 | 659,282 | 649,029 |
Cost of net product sales | 120,939 | 119,442 | 234,130 | 230,460 |
Cost of services revenue | 77,884 | 73,993 | 151,921 | 141,701 |
Cost of net product sales and services revenue | 198,823 | 193,435 | 386,051 | 372,161 |
Cost of license and royalty revenue | 410 | 47 | 1,218 | 139 |
Cost of net revenue | 199,233 | 193,482 | 387,269 | 372,300 |
Gross profit (loss) | 131,587 | 132,128 | 272,013 | 276,729 |
Operating expenses: | ||||
Research and development | 13,993 | 15,590 | 28,912 | 30,435 |
Sales and marketing | 52,101 | 60,175 | 105,328 | 121,114 |
General and administrative | 51,288 | 46,458 | 89,058 | 82,527 |
Impairment and (gain) loss on dispositions, net | (39,412) | 638 | (8,804) | 638 |
Operating income (loss) | 53,617 | 9,267 | 57,519 | 42,015 |
Interest expense, including amortization of original issue discounts and deferred financing costs | (3,060) | (5,019) | (6,345) | (10,513) |
Other income (expense), net | 4,576 | 5,073 | 8,875 | 11,032 |
Income (loss) from continuing operations before provision (benefit) for income taxes | 55,133 | 9,321 | 60,049 | 42,534 |
Provision (benefit) for income taxes | 11,277 | 8,620 | 13,097 | 29,239 |
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | 43,856 | 701 | 46,952 | 13,295 |
Equity in earnings of subsidiaries, net of tax | 164 | 232 | ||
Equity in earnings of subsidiaries, net of tax | 0 | 0 | 232 | |
Equity earnings of unconsolidated entities, net of tax | 0 | 0 | 0 | 0 |
Income (loss) from continuing operations | 865 | 46,952 | 13,527 | |
Income (loss) from discontinued operations, net of tax | (2,044) | (1,912) | (5,803) | |
Net income (loss) | 43,856 | (1,179) | 45,040 | 7,724 |
Less: Net income attributable to non-controlling interests | 0 | 0 | 0 | 0 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | 43,856 | (1,179) | 45,040 | 7,724 |
Preferred stock dividends | 0 | 0 | 0 | 0 |
Net income (loss) available to common stockholders | 43,856 | (1,179) | 45,040 | 7,724 |
Non-Guarantor Subsidiaries [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net product sales | 350,063 | 358,657 | 673,260 | 694,395 |
Services revenue | 11,645 | 18,000 | 27,444 | 36,057 |
Net product sales and services revenue | 361,708 | 376,657 | 700,704 | 730,452 |
License and royalty revenue | 5,710 | 6,001 | 10,073 | 11,020 |
Net revenue | 367,418 | 382,658 | 710,777 | 741,472 |
Cost of net product sales | 194,199 | 203,035 | 374,245 | 386,795 |
Cost of services revenue | 7,477 | 8,674 | 15,872 | 16,675 |
Cost of net product sales and services revenue | 201,676 | 211,709 | 390,117 | 403,470 |
Cost of license and royalty revenue | 4,164 | 4,310 | 8,208 | 9,048 |
Cost of net revenue | 205,840 | 216,019 | 398,325 | 412,518 |
Gross profit (loss) | 161,578 | 166,639 | 312,452 | 328,954 |
Operating expenses: | ||||
Research and development | 9,964 | 14,677 | 20,759 | 32,916 |
Sales and marketing | 53,513 | 72,430 | 108,105 | 142,667 |
General and administrative | (14,865) | 58,163 | 19,533 | 106,957 |
Impairment and (gain) loss on dispositions, net | 576 | 0 | (31,763) | 0 |
Operating income (loss) | 112,390 | 21,369 | 195,818 | 46,414 |
Interest expense, including amortization of original issue discounts and deferred financing costs | (4,702) | (4,590) | (8,745) | (9,134) |
Other income (expense), net | 3,442 | 4,683 | 1,221 | 10,506 |
Income (loss) from continuing operations before provision (benefit) for income taxes | 111,130 | 21,462 | 188,294 | 47,786 |
Provision (benefit) for income taxes | 22,768 | 9,620 | 32,483 | 18,179 |
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | 88,362 | 11,842 | 155,811 | 29,607 |
Equity in earnings of subsidiaries, net of tax | 0 | 0 | ||
Equity in earnings of subsidiaries, net of tax | 0 | 0 | 0 | |
Equity earnings of unconsolidated entities, net of tax | 424 | 1,673 | 3,992 | 6,737 |
Income (loss) from continuing operations | 13,515 | 159,803 | 36,344 | |
Income (loss) from discontinued operations, net of tax | (54) | 0 | 781 | |
Net income (loss) | 88,786 | 13,461 | 159,803 | 37,125 |
Less: Net income attributable to non-controlling interests | 359 | 62 | 447 | 170 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | 88,427 | 13,399 | 159,356 | 36,955 |
Preferred stock dividends | 0 | 0 | 0 | 0 |
Net income (loss) available to common stockholders | 88,427 | 13,399 | 159,356 | 36,955 |
Eliminations [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net product sales | (65,833) | (57,638) | (126,639) | (111,341) |
Services revenue | 0 | 0 | 0 | 0 |
Net product sales and services revenue | (65,833) | (57,638) | (126,639) | (111,341) |
License and royalty revenue | (3,249) | (3,232) | (6,111) | (6,523) |
Net revenue | (69,082) | (60,870) | (132,750) | (117,864) |
Cost of net product sales | (57,070) | (51,481) | (112,086) | (103,966) |
Cost of services revenue | (8,688) | (6,844) | (15,589) | (12,265) |
Cost of net product sales and services revenue | (65,758) | (58,325) | (127,675) | (116,231) |
Cost of license and royalty revenue | (3,249) | (3,232) | (6,111) | (6,523) |
Cost of net revenue | (69,007) | (61,557) | (133,786) | (122,754) |
Gross profit (loss) | (75) | 687 | 1,036 | 4,890 |
Operating expenses: | ||||
Research and development | 0 | 0 | 0 | 0 |
Sales and marketing | 0 | 0 | 0 | 0 |
General and administrative | 0 | 0 | 0 | 0 |
Impairment and (gain) loss on dispositions, net | 0 | 0 | 0 | 0 |
Operating income (loss) | (75) | 687 | 1,036 | 4,890 |
Interest expense, including amortization of original issue discounts and deferred financing costs | 7,354 | 8,960 | 14,349 | 18,346 |
Other income (expense), net | (7,354) | (8,960) | (14,349) | (18,404) |
Income (loss) from continuing operations before provision (benefit) for income taxes | (75) | 687 | 1,036 | 4,832 |
Provision (benefit) for income taxes | (38) | 201 | 308 | 1,659 |
Income (loss) from continuing operations before equity in earnings of subsidiaries and unconsolidated entities, net of tax | (37) | 486 | 728 | 3,173 |
Equity in earnings of subsidiaries, net of tax | (12,760) | (47,897) | ||
Equity in earnings of subsidiaries, net of tax | (132,620) | (205,553) | (47,897) | |
Equity earnings of unconsolidated entities, net of tax | 15 | (8) | (18) | (125) |
Income (loss) from continuing operations | (12,282) | (204,843) | (44,849) | |
Income (loss) from discontinued operations, net of tax | 0 | 0 | 0 | |
Net income (loss) | (132,642) | (12,282) | (204,843) | (44,849) |
Less: Net income attributable to non-controlling interests | 0 | 0 | 0 | 0 |
Net income (loss) attributable to Alere Inc. and Subsidiaries | (132,642) | (12,282) | (204,843) | (44,849) |
Preferred stock dividends | 0 | 0 | 0 | 0 |
Net income (loss) available to common stockholders | $ (132,642) | $ (12,282) | $ (204,843) | $ (44,849) |
Guarantor Financial Informati95
Guarantor Financial Information - Guarantor Financial Information Consolidating Statement of Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | $ 20,263 | $ (45,026) | $ 229,491 | $ (50,472) |
Other comprehensive income (loss), before tax: | ||||
Changes in cumulative translation adjustment | 46,726 | 37,815 | (33,616) | 26,475 |
Unrealized losses on available for sale securities | 0 | 0 | 0 | (17) |
Unrealized gains on hedging instruments | 0 | 6 | 0 | 14 |
Minimum pension liability adjustment | (374) | (87) | (1,756) | (13) |
Other comprehensive income (loss), before tax | 46,352 | 37,734 | (35,372) | 26,459 |
Income tax provision (benefit) related to items of other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | 46,352 | 37,734 | (35,372) | 26,459 |
Comprehensive income (loss) | 66,615 | (7,292) | 194,119 | (24,013) |
Less: Comprehensive income (loss) attributable to non-controlling interests | 359 | 62 | 447 | 170 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | 66,256 | (7,354) | 193,672 | (24,183) |
Issuer [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | 20,263 | (45,026) | 229,491 | (50,472) |
Other comprehensive income (loss), before tax: | ||||
Changes in cumulative translation adjustment | 196 | 89 | (461) | 246 |
Unrealized losses on available for sale securities | 0 | |||
Unrealized gains on hedging instruments | 0 | 0 | ||
Minimum pension liability adjustment | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), before tax | 196 | 89 | (461) | 246 |
Income tax provision (benefit) related to items of other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | 196 | 89 | (461) | 246 |
Comprehensive income (loss) | 20,459 | (44,937) | 229,030 | (50,226) |
Less: Comprehensive income (loss) attributable to non-controlling interests | 0 | 0 | 0 | 0 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | 20,459 | (44,937) | 229,030 | (50,226) |
Guarantor Subsidiaries [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | 43,856 | (1,179) | 45,040 | 7,724 |
Other comprehensive income (loss), before tax: | ||||
Changes in cumulative translation adjustment | 689 | 55 | 117 | (74) |
Unrealized losses on available for sale securities | (17) | |||
Unrealized gains on hedging instruments | 0 | 0 | ||
Minimum pension liability adjustment | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), before tax | 689 | 55 | 117 | (91) |
Income tax provision (benefit) related to items of other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | 689 | 55 | 117 | (91) |
Comprehensive income (loss) | 44,545 | (1,124) | 45,157 | 7,633 |
Less: Comprehensive income (loss) attributable to non-controlling interests | 0 | 0 | 0 | 0 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | 44,545 | (1,124) | 45,157 | 7,633 |
Non-Guarantor Subsidiaries [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | 88,786 | 13,461 | 159,803 | 37,125 |
Other comprehensive income (loss), before tax: | ||||
Changes in cumulative translation adjustment | 45,841 | 37,671 | (33,272) | 26,303 |
Unrealized losses on available for sale securities | 0 | |||
Unrealized gains on hedging instruments | 6 | 14 | ||
Minimum pension liability adjustment | (374) | (87) | (1,756) | (13) |
Other comprehensive income (loss), before tax | 45,467 | 37,590 | (35,028) | 26,304 |
Income tax provision (benefit) related to items of other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | 45,467 | 37,590 | (35,028) | 26,304 |
Comprehensive income (loss) | 134,253 | 51,051 | 124,775 | 63,429 |
Less: Comprehensive income (loss) attributable to non-controlling interests | 359 | 62 | 447 | 170 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | 133,894 | 50,989 | 124,328 | 63,259 |
Eliminations [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | (132,642) | (12,282) | (204,843) | (44,849) |
Other comprehensive income (loss), before tax: | ||||
Changes in cumulative translation adjustment | 0 | 0 | 0 | 0 |
Unrealized losses on available for sale securities | 0 | |||
Unrealized gains on hedging instruments | 0 | 0 | ||
Minimum pension liability adjustment | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), before tax | 0 | 0 | 0 | 0 |
Income tax provision (benefit) related to items of other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 |
Comprehensive income (loss) | (132,642) | (12,282) | (204,843) | (44,849) |
Less: Comprehensive income (loss) attributable to non-controlling interests | 0 | 0 | 0 | 0 |
Comprehensive income (loss) attributable to Alere Inc. and Subsidiaries | $ (132,642) | $ (12,282) | $ (204,843) | $ (44,849) |
Guarantor Financial Informati96
Guarantor Financial Information - Guarantor Financial Information Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Current assets: | ||||
Cash and cash equivalents | $ 464,871 | $ 378,461 | $ 390,154 | $ 355,431 |
Restricted cash | 461,636 | 37,571 | ||
Marketable securities | 175 | 259 | ||
Accounts receivable, net of allowances | 472,686 | 466,106 | ||
Inventories, net | 366,340 | 365,165 | ||
Deferred tax assets | 18,385 | 112,573 | ||
Prepaid expenses and other current assets | 125,559 | 132,413 | 663 | |
Assets held for sale - current | 28,631 | 315,515 | ||
Intercompany receivables | 0 | 0 | ||
Total current assets | 1,938,283 | 1,808,063 | ||
Property, plant and equipment, net | 448,302 | 453,570 | ||
Goodwill | 2,853,551 | 2,926,666 | ||
Other intangible assets with indefinite lives | 41,306 | 43,651 | ||
Finite-lived intangible assets, net | 1,093,186 | 1,276,444 | ||
Deferred financing costs, net and other non-current assets | 67,734 | 67,832 | ||
Investments in subsidiaries | 0 | 0 | ||
Investments in unconsolidated entities | 69,594 | 91,693 | ||
Deferred tax assets | 7,633 | 8,569 | ||
Non-current income tax receivable | 2,611 | 2,468 | ||
Assets held for sale - non-current | 129,194 | |||
Intercompany notes receivables | 0 | 0 | ||
Total assets | 6,651,394 | 6,678,956 | 6,651,394 | |
Current liabilities: | ||||
Short-term debt and current portion of long-term debt | 629,371 | 88,875 | ||
Current portion of capital lease obligations | 4,643 | 4,241 | ||
Accounts payable | 186,941 | 213,592 | ||
Accrued expenses and other current liabilities | 309,394 | 375,494 | ||
Liabilities related to assets held for sale - current | 7,663 | 78,843 | ||
Intercompany payables | 0 | 0 | ||
Total current liabilities | 1,138,012 | 761,045 | ||
Long-term liabilities: | ||||
Long-term debt, net of current portion | 2,958,036 | 3,621,385 | ||
Capital lease obligations, net of current portion | 6,913 | 10,560 | ||
Deferred tax liabilities | 227,491 | 214,639 | ||
Other long-term liabilities | 146,240 | 161,582 | ||
Liabilities related to assets held for sale - non-current | 11,527 | |||
Intercompany notes payables | 0 | 0 | ||
Total long-term liabilities | 3,350,207 | 4,008,166 | ||
Total stockholders' equity | 2,158,582 | 1,905,599 | ||
Non-controlling interests | 4,593 | 4,146 | ||
Total equity | 2,163,175 | 1,909,745 | 2,069,306 | 2,078,138 |
Total liabilities and equity | 6,651,394 | 6,678,956 | ||
Issuer [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 42,407 | 2,149 | 6,886 | 14,801 |
Restricted cash | 427,181 | 5,012 | ||
Marketable securities | 0 | 0 | ||
Accounts receivable, net of allowances | 0 | 0 | ||
Inventories, net | 0 | 0 | ||
Deferred tax assets | (36,568) | 36,347 | ||
Prepaid expenses and other current assets | 14,217 | 9,800 | ||
Assets held for sale - current | 0 | 1,361 | ||
Intercompany receivables | 573,462 | 404,990 | ||
Total current assets | 1,020,699 | 459,659 | ||
Property, plant and equipment, net | 30,663 | 30,547 | ||
Goodwill | 0 | 0 | ||
Other intangible assets with indefinite lives | 0 | 0 | ||
Finite-lived intangible assets, net | 5,194 | 6,104 | ||
Deferred financing costs, net and other non-current assets | 46,331 | 40,992 | ||
Investments in subsidiaries | 3,368,524 | 3,740,004 | ||
Investments in unconsolidated entities | 503 | 13,987 | ||
Deferred tax assets | 0 | 0 | ||
Non-current income tax receivable | 2,611 | 2,468 | ||
Assets held for sale - non-current | 12,363 | |||
Intercompany notes receivables | 2,047,832 | 2,028,701 | ||
Total assets | 6,534,720 | 6,322,462 | ||
Current liabilities: | ||||
Short-term debt and current portion of long-term debt | 601,712 | 61,700 | ||
Current portion of capital lease obligations | 0 | 0 | ||
Accounts payable | 13,949 | 21,402 | ||
Accrued expenses and other current liabilities | (516,724) | (536,286) | ||
Liabilities related to assets held for sale - current | 6,996 | 1,094 | ||
Intercompany payables | 847,581 | 902,576 | ||
Total current liabilities | 953,514 | 450,486 | ||
Long-term liabilities: | ||||
Long-term debt, net of current portion | 2,951,161 | 3,615,759 | ||
Capital lease obligations, net of current portion | 0 | 0 | ||
Deferred tax liabilities | (53,700) | (107,844) | ||
Other long-term liabilities | 41,758 | 42,762 | ||
Liabilities related to assets held for sale - non-current | 0 | |||
Intercompany notes payables | 483,405 | 415,700 | ||
Total long-term liabilities | 3,422,624 | 3,966,377 | ||
Total stockholders' equity | 2,158,582 | 1,905,599 | ||
Non-controlling interests | 0 | 0 | ||
Total equity | 2,158,582 | 1,905,599 | ||
Total liabilities and equity | 6,534,720 | 6,322,462 | ||
Guarantor Subsidiaries [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 75,005 | 69,154 | 63,738 | 78,976 |
Restricted cash | 0 | 0 | ||
Marketable securities | 175 | 259 | ||
Accounts receivable, net of allowances | 197,643 | 192,775 | ||
Inventories, net | 199,654 | 191,323 | ||
Deferred tax assets | 29,165 | 44,961 | ||
Prepaid expenses and other current assets | 23,036 | 31,410 | ||
Assets held for sale - current | 0 | 284,369 | ||
Intercompany receivables | 660,375 | 888,688 | ||
Total current assets | 1,185,053 | 1,702,939 | ||
Property, plant and equipment, net | 225,914 | 218,613 | ||
Goodwill | 1,795,118 | 1,795,663 | ||
Other intangible assets with indefinite lives | 8,200 | 9,287 | ||
Finite-lived intangible assets, net | 660,561 | 742,760 | ||
Deferred financing costs, net and other non-current assets | 4,574 | 5,334 | ||
Investments in subsidiaries | 179,853 | 179,315 | ||
Investments in unconsolidated entities | 14,765 | 14,765 | ||
Deferred tax assets | 0 | 0 | ||
Non-current income tax receivable | 0 | 0 | ||
Assets held for sale - non-current | 0 | |||
Intercompany notes receivables | 694,785 | 649,444 | ||
Total assets | 4,768,823 | 5,318,120 | ||
Current liabilities: | ||||
Short-term debt and current portion of long-term debt | 0 | 2 | ||
Current portion of capital lease obligations | 1,809 | 1,045 | ||
Accounts payable | 75,026 | 81,741 | ||
Accrued expenses and other current liabilities | 633,878 | 663,221 | ||
Liabilities related to assets held for sale - current | (6,996) | 77,749 | ||
Intercompany payables | 232,066 | 198,788 | ||
Total current liabilities | 935,783 | 1,022,546 | ||
Long-term liabilities: | ||||
Long-term debt, net of current portion | 0 | 0 | ||
Capital lease obligations, net of current portion | 2,070 | 4,097 | ||
Deferred tax liabilities | 216,438 | 252,944 | ||
Other long-term liabilities | 64,920 | 46,865 | ||
Liabilities related to assets held for sale - non-current | 0 | |||
Intercompany notes payables | 1,222,259 | 1,276,245 | ||
Total long-term liabilities | 1,505,687 | 1,580,151 | ||
Total stockholders' equity | 2,327,353 | 2,715,423 | ||
Non-controlling interests | 0 | 0 | ||
Total equity | 2,327,353 | 2,715,423 | ||
Total liabilities and equity | 4,768,823 | 5,318,120 | ||
Non-Guarantor Subsidiaries [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 347,459 | 307,158 | 319,530 | 261,654 |
Restricted cash | 34,455 | 32,559 | ||
Marketable securities | 0 | 0 | ||
Accounts receivable, net of allowances | 275,043 | 273,331 | ||
Inventories, net | 188,133 | 195,606 | ||
Deferred tax assets | 27,908 | 31,265 | ||
Prepaid expenses and other current assets | 81,554 | 88,695 | ||
Assets held for sale - current | 28,631 | 29,785 | ||
Intercompany receivables | 66,677 | 55,923 | ||
Total current assets | 1,049,860 | 1,014,322 | ||
Property, plant and equipment, net | 191,877 | 204,188 | ||
Goodwill | 1,058,433 | 1,131,003 | ||
Other intangible assets with indefinite lives | 33,165 | 34,422 | ||
Finite-lived intangible assets, net | 427,431 | 527,580 | ||
Deferred financing costs, net and other non-current assets | 16,928 | 21,541 | ||
Investments in subsidiaries | 58,321 | 58,067 | ||
Investments in unconsolidated entities | 39,919 | 49,608 | ||
Deferred tax assets | 7,633 | 8,569 | ||
Non-current income tax receivable | 0 | 0 | ||
Assets held for sale - non-current | 116,831 | |||
Intercompany notes receivables | 15,779 | 46,676 | ||
Total assets | 3,016,177 | 3,095,976 | ||
Current liabilities: | ||||
Short-term debt and current portion of long-term debt | 27,659 | 27,173 | ||
Current portion of capital lease obligations | 2,834 | 3,196 | ||
Accounts payable | 97,966 | 110,449 | ||
Accrued expenses and other current liabilities | 189,852 | 248,604 | ||
Liabilities related to assets held for sale - current | 7,663 | 0 | ||
Intercompany payables | 220,866 | 248,237 | ||
Total current liabilities | 546,840 | 637,659 | ||
Long-term liabilities: | ||||
Long-term debt, net of current portion | 6,875 | 5,626 | ||
Capital lease obligations, net of current portion | 4,843 | 6,463 | ||
Deferred tax liabilities | 64,671 | 69,457 | ||
Other long-term liabilities | 39,662 | 71,988 | ||
Liabilities related to assets held for sale - non-current | 11,527 | |||
Intercompany notes payables | 1,052,732 | 1,032,876 | ||
Total long-term liabilities | 1,180,310 | 1,186,410 | ||
Total stockholders' equity | 1,284,434 | 1,267,761 | ||
Non-controlling interests | 4,593 | 4,146 | ||
Total equity | 1,289,027 | 1,271,907 | ||
Total liabilities and equity | 3,016,177 | 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 | (21,447) | (21,764) | ||
Deferred tax assets | (2,120) | 0 | ||
Prepaid expenses and other current assets | 6,752 | 2,508 | ||
Assets held for sale - current | 0 | 0 | ||
Intercompany receivables | (1,300,514) | (1,349,601) | ||
Total current assets | (1,317,329) | (1,368,857) | ||
Property, plant and equipment, net | (152) | 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 | (99) | (35) | ||
Investments in subsidiaries | (3,606,698) | (3,977,386) | ||
Investments in unconsolidated entities | 14,407 | 13,333 | ||
Deferred tax assets | 0 | 0 | ||
Non-current income tax receivable | 0 | 0 | ||
Assets held for sale - non-current | 0 | |||
Intercompany notes receivables | (2,758,396) | (2,724,821) | ||
Total assets | (7,668,326) | (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 | 2,388 | (45) | ||
Liabilities related to assets held for sale - current | 0 | 0 | ||
Intercompany payables | (1,300,513) | (1,349,601) | ||
Total current liabilities | (1,298,125) | (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 | 82 | 82 | ||
Other long-term liabilities | (100) | (33) | ||
Liabilities related to assets held for sale - non-current | 0 | |||
Intercompany notes payables | (2,758,396) | (2,724,821) | ||
Total long-term liabilities | (2,758,414) | (2,724,772) | ||
Total stockholders' equity | (3,611,787) | (3,983,184) | ||
Non-controlling interests | 0 | 0 | ||
Total equity | (3,611,787) | (3,983,184) | ||
Total liabilities and equity | $ (7,668,326) | $ (8,057,602) |
Guarantor Financial Informati97
Guarantor Financial Information - Guarantor Financial Information Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Cash Flows from Operating Activities: | ||||
Net income (loss) | $ 20,263 | $ (45,026) | $ 229,491 | $ (50,472) |
Income (loss) from discontinued operations, net of tax | 0 | 12,915 | 216,777 | 10,319 |
Income (loss) from continuing operations | 20,263 | (57,941) | 12,714 | (60,791) |
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | ||||
Equity in earnings of subsidiaries, net of tax | 0 | 0 | 0 | |
Tax benefit related to discontinued operations retained by Alere Inc | 0 | 2,990 | ||
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 7,784 | 7,926 | ||
Depreciation and amortization | 72,643 | 83,819 | 147,011 | 167,639 |
Non-cash stock-based compensation expense | 7,130 | (1,122) | 12,279 | 4,582 |
Impairment of inventory | 68 | 589 | ||
Impairment of long-lived assets | 387 | 1,491 | ||
Loss on disposition of fixed assets | 3,318 | 3,265 | ||
Equity earnings of unconsolidated entities, net of tax | (1,361) | (2,087) | (5,320) | (7,439) |
Gain on sales of marketable securities | (8) | 0 | ||
Deferred income taxes | (40,655) | (33,894) | ||
Impairment and (gain) loss on dispositions, net | 5,542 | 638 | 40,334 | 638 |
Loss on extinguishment of debt | 3,480 | 0 | ||
Other non-cash items | (2,332) | (5,261) | ||
Non-cash change in fair value of contingent purchase price consideration | (52,867) | 16,729 | ||
Changes in assets and liabilities, net of acquisitions: | ||||
Accounts receivable, net | (27,464) | 15,068 | ||
Inventories, net | (46,093) | (15,329) | ||
Prepaid expenses and other current assets | (27,077) | 663 | ||
Accounts payable | (23,251) | 30,437 | ||
Accrued expenses and other current liabilities | 27,657 | (3,769) | ||
Other non-current liabilities | 6,025 | 6,377 | ||
Cash paid for contingent purchase price consideration | (3,781) | (20,205) | ||
Intercompany payable (receivable) | 0 | 0 | ||
Net cash provided by continuing operations | 32,209 | 111,706 | ||
Net cash provided by discontinued operations | 318 | 13,398 | ||
Net cash provided by (used in) operating activities | 32,527 | 125,104 | ||
Cash Flows from Investing Activities: | ||||
Increase in restricted cash | (424,025) | (4,034) | ||
Purchases of property, plant and equipment | (47,284) | (47,283) | ||
Proceeds from sale of property, plant and equipment | 1,120 | 493 | ||
Cash received from (used in) disposition, net of cash divested | 586,625 | 5,454 | ||
Cash paid for business acquisitions, net of cash acquired | 0 | (75) | ||
Cash received from equity method investments | 14,297 | 980 | ||
Cash received from sales of marketable securities | 39 | |||
Cash received from sales of marketable securities | 93 | 39 | ||
Cash received (paid) for investments | (779) | |||
(Increase) decrease in other assets | 1,750 | 864 | ||
Net cash provided by (used in) continuing operations | 132,576 | (44,341) | ||
Net cash used in discontinued operations | (209) | (6,769) | ||
Net cash provided by (used in) investing activities | 132,367 | (51,110) | ||
Cash Flows from Financing Activities: | ||||
Cash paid for financing costs | (15,731) | (5) | ||
Cash paid for contingent purchase price consideration | (6,373) | (15,619) | ||
Proceeds from issuance of common stock, net of issuance costs | 56,332 | 21,121 | ||
Proceeds from issuance of long-term debt | 2,121,851 | 0 | ||
Payments on short-term debt | (584) | 0 | ||
Payments on long-term debt | (2,118,264) | (31,727) | ||
Proceeds from issuance of short-term debt | 0 | 806 | ||
Net payments under revolving credit facilities | (126,320) | 111 | ||
Cash paid for dividends | (10,646) | (10,646) | ||
Excess tax benefits on exercised stock options | 2,511 | 415 | ||
Principal payments on capital lease obligations | (2,910) | (3,039) | ||
Net cash provided by (used in) continuing operations | (100,134) | (38,583) | ||
Net cash used in discontinued operations | (76) | (167) | ||
Net cash provided by (used in) financing activities | (100,210) | (38,750) | ||
Foreign exchange effect on cash and cash equivalents | (1,574) | 1,650 | ||
Net increase (decrease) in cash and cash equivalents | 63,110 | 36,894 | ||
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 of continuing operations, end of period | 464,871 | 398,801 | 464,871 | 398,801 |
Less: Cash and cash equivalents of discontinued operations, end of period | 0 | 8,647 | 0 | 8,647 |
Cash and cash equivalents of continuing operations, end of period | 464,871 | 390,154 | 464,871 | 390,154 |
Issuer [Member] | ||||
Cash Flows from Operating Activities: | ||||
Net income (loss) | 20,263 | (45,026) | 229,491 | (50,472) |
Income (loss) from discontinued operations, net of tax | 15,013 | 218,689 | 15,341 | |
Income (loss) from continuing operations | (60,039) | 10,802 | (65,813) | |
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | ||||
Equity in earnings of subsidiaries, net of tax | (132,620) | (205,553) | (47,665) | |
Tax benefit related to discontinued operations retained by Alere Inc | 0 | |||
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 7,728 | 7,715 | ||
Depreciation and amortization | 3,840 | 3,066 | ||
Non-cash stock-based compensation expense | 6,458 | 752 | ||
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 | (922) | (422) | (1,346) | (827) |
Gain on sales of marketable securities | 0 | |||
Deferred income taxes | (8,686) | (22,249) | ||
Impairment and (gain) loss on dispositions, net | 44,378 | 0 | 80,901 | 0 |
Loss on extinguishment of debt | 3,480 | |||
Other non-cash items | (159) | 0 | ||
Non-cash change in fair value of contingent purchase price consideration | (30,895) | (157) | ||
Changes in assets and liabilities, net of acquisitions: | ||||
Accounts receivable, net | 0 | 0 | ||
Inventories, net | 0 | 0 | ||
Prepaid expenses and other current assets | (3,052) | (38,974) | ||
Accounts payable | (7,499) | (3,153) | ||
Accrued expenses and other current liabilities | (8,944) | 17,304 | ||
Other non-current liabilities | 915 | 2,221 | ||
Cash paid for contingent purchase price consideration | (3,768) | (20,124) | ||
Intercompany payable (receivable) | 127,569 | 207,786 | ||
Net cash provided by continuing operations | (28,209) | 39,882 | ||
Net cash provided by discontinued operations | 0 | 0 | ||
Net cash provided by (used in) operating activities | (28,209) | 39,882 | ||
Cash Flows from Investing Activities: | ||||
Increase in restricted cash | (422,169) | (1,424) | ||
Purchases of property, plant and equipment | (5,147) | (11,770) | ||
Proceeds from sale of property, plant and equipment | 0 | 268 | ||
Cash received from (used in) disposition, net of cash divested | 593,217 | 0 | ||
Cash paid for business acquisitions, net of cash acquired | (75) | |||
Cash received from equity method investments | 2,205 | 980 | ||
Cash received from sales of marketable securities | 0 | |||
Cash received from sales of marketable securities | 0 | |||
Cash received (paid) for investments | (503) | |||
(Increase) decrease in other assets | 348 | (311) | ||
Net cash provided by (used in) continuing operations | 168,454 | (12,835) | ||
Net cash used in discontinued operations | 0 | 0 | ||
Net cash provided by (used in) investing activities | 168,454 | (12,835) | ||
Cash Flows from Financing Activities: | ||||
Cash paid for financing costs | (15,731) | (5) | ||
Cash paid for contingent purchase price consideration | (5,503) | (15,355) | ||
Proceeds from issuance of common stock, net of issuance costs | 56,332 | 21,121 | ||
Proceeds from issuance of long-term debt | 2,119,125 | |||
Payments on short-term debt | 0 | |||
Payments on long-term debt | (2,117,875) | (30,000) | ||
Proceeds from issuance of short-term debt | 0 | |||
Net payments under revolving credit facilities | (127,000) | 0 | ||
Cash paid for dividends | (10,646) | (10,646) | ||
Excess tax benefits on exercised stock options | 1,311 | 65 | ||
Principal payments on capital lease obligations | 0 | 0 | ||
Net cash provided by (used in) continuing operations | (99,987) | (34,820) | ||
Net cash used in discontinued operations | 0 | (150) | ||
Net cash provided by (used in) financing activities | (99,987) | (34,970) | ||
Foreign exchange effect on cash and cash equivalents | 0 | 8 | ||
Net increase (decrease) in cash and cash equivalents | 40,258 | (7,915) | ||
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 of continuing operations, end of period | 42,407 | 6,886 | 42,407 | 6,886 |
Less: Cash and cash equivalents of discontinued operations, end of period | 0 | 0 | ||
Cash and cash equivalents of continuing operations, end of period | 42,407 | 6,886 | 42,407 | 6,886 |
Guarantor Subsidiaries [Member] | ||||
Cash Flows from Operating Activities: | ||||
Net income (loss) | 43,856 | (1,179) | 45,040 | 7,724 |
Income (loss) from discontinued operations, net of tax | (2,044) | (1,912) | (5,803) | |
Income (loss) from continuing operations | 865 | 46,952 | 13,527 | |
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | ||||
Equity in earnings of subsidiaries, net of tax | 0 | 0 | (232) | |
Tax benefit related to discontinued operations retained by Alere Inc | 3,477 | |||
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 13 | 22 | ||
Depreciation and amortization | 82,576 | 88,108 | ||
Non-cash stock-based compensation expense | 2,633 | 2,352 | ||
Impairment of inventory | 133 | 0 | ||
Impairment of long-lived assets | 64 | 0 | ||
Loss on disposition of fixed assets | 2,764 | 3,035 | ||
Equity earnings of unconsolidated entities, net of tax | 0 | 0 | 0 | 0 |
Gain on sales of marketable securities | (8) | |||
Deferred income taxes | (30,581) | (4,743) | ||
Impairment and (gain) loss on dispositions, net | (39,412) | 638 | (8,804) | 638 |
Loss on extinguishment of debt | 0 | |||
Other non-cash items | (1,497) | 2,247 | ||
Non-cash change in fair value of contingent purchase price consideration | 15,748 | 12,903 | ||
Changes in assets and liabilities, net of acquisitions: | ||||
Accounts receivable, net | (5,779) | (8,900) | ||
Inventories, net | (26,943) | (10,786) | ||
Prepaid expenses and other current assets | (19,127) | 36,047 | ||
Accounts payable | (11,331) | 18,760 | ||
Accrued expenses and other current liabilities | 59,310 | (9,220) | ||
Other non-current liabilities | 5,278 | 345 | ||
Cash paid for contingent purchase price consideration | 0 | 0 | ||
Intercompany payable (receivable) | (101,515) | (146,084) | ||
Net cash provided by continuing operations | 9,886 | 1,496 | ||
Net cash provided by discontinued operations | 318 | 12,785 | ||
Net cash provided by (used in) operating activities | 10,204 | 14,281 | ||
Cash Flows from Investing Activities: | ||||
Increase in restricted cash | 0 | 0 | ||
Purchases of property, plant and equipment | (19,386) | (20,863) | ||
Proceeds from sale of property, plant and equipment | 738 | 670 | ||
Cash received from (used in) disposition, net of cash divested | (8,723) | 1,081 | ||
Cash paid for business acquisitions, net of cash acquired | 0 | |||
Cash received from equity method investments | 0 | 0 | ||
Cash received from sales of marketable securities | 39 | |||
Cash received from sales of marketable securities | 93 | |||
Cash received (paid) for investments | (278) | |||
(Increase) decrease in other assets | 409 | 196 | ||
Net cash provided by (used in) continuing operations | (26,869) | (19,155) | ||
Net cash used in discontinued operations | (209) | (6,769) | ||
Net cash provided by (used in) investing activities | (27,078) | (25,924) | ||
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 | (148) | ||
Proceeds from issuance of short-term debt | 0 | |||
Net payments under revolving credit facilities | 0 | 0 | ||
Cash paid for dividends | 0 | 0 | ||
Excess tax benefits on exercised stock options | 893 | 282 | ||
Principal payments on capital lease obligations | (1,263) | (1,462) | ||
Net cash provided by (used in) continuing operations | (370) | (1,328) | ||
Net cash used in discontinued operations | (76) | (17) | ||
Net cash provided by (used in) financing activities | (446) | (1,345) | ||
Foreign exchange effect on cash and cash equivalents | (129) | (79) | ||
Net increase (decrease) in cash and cash equivalents | (17,449) | (13,067) | ||
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 of continuing operations, end of period | 75,005 | 72,385 | 75,005 | 72,385 |
Less: Cash and cash equivalents of discontinued operations, end of period | 8,647 | 8,647 | ||
Cash and cash equivalents of continuing operations, end of period | 75,005 | 63,738 | 75,005 | 63,738 |
Non-Guarantor Subsidiaries [Member] | ||||
Cash Flows from Operating Activities: | ||||
Net income (loss) | 88,786 | 13,461 | 159,803 | 37,125 |
Income (loss) from discontinued operations, net of tax | (54) | 0 | 781 | |
Income (loss) from continuing operations | 13,515 | 159,803 | 36,344 | |
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | ||||
Equity in earnings of subsidiaries, net of tax | 0 | 0 | 0 | |
Tax benefit related to discontinued operations retained by Alere Inc | (487) | |||
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 43 | 189 | ||
Depreciation and amortization | 60,560 | 76,418 | ||
Non-cash stock-based compensation expense | 3,188 | 1,478 | ||
Impairment of inventory | (65) | 589 | ||
Impairment of long-lived assets | 323 | 1,491 | ||
Loss on disposition of fixed assets | 554 | 230 | ||
Equity earnings of unconsolidated entities, net of tax | (424) | (1,673) | (3,992) | (6,737) |
Gain on sales of marketable securities | 0 | |||
Deferred income taxes | (1,826) | (8,561) | ||
Impairment and (gain) loss on dispositions, net | 576 | 0 | (31,763) | 0 |
Loss on extinguishment of debt | 0 | |||
Other non-cash items | (676) | (7,508) | ||
Non-cash change in fair value of contingent purchase price consideration | (37,720) | 3,983 | ||
Changes in assets and liabilities, net of acquisitions: | ||||
Accounts receivable, net | (21,685) | 23,968 | ||
Inventories, net | (17,739) | 182 | ||
Prepaid expenses and other current assets | 810 | 5,952 | ||
Accounts payable | (4,421) | 14,830 | ||
Accrued expenses and other current liabilities | (26,607) | (10,496) | ||
Other non-current liabilities | (1,783) | 93 | ||
Cash paid for contingent purchase price consideration | (13) | (81) | ||
Intercompany payable (receivable) | (26,054) | (61,702) | ||
Net cash provided by continuing operations | 50,937 | 70,175 | ||
Net cash provided by discontinued operations | 0 | 613 | ||
Net cash provided by (used in) operating activities | 50,937 | 70,788 | ||
Cash Flows from Investing Activities: | ||||
Increase in restricted cash | (1,856) | (2,610) | ||
Purchases of property, plant and equipment | (23,907) | (17,318) | ||
Proceeds from sale of property, plant and equipment | 1,199 | 2,310 | ||
Cash received from (used in) disposition, net of cash divested | 2,131 | 4,373 | ||
Cash paid for business acquisitions, net of cash acquired | 0 | |||
Cash received from equity method investments | 12,092 | 0 | ||
Cash received from sales of marketable securities | 0 | |||
Cash received from sales of marketable securities | 0 | |||
Cash received (paid) for investments | 2 | |||
(Increase) decrease in other assets | 927 | 920 | ||
Net cash provided by (used in) continuing operations | (9,414) | (12,323) | ||
Net cash used in discontinued operations | 0 | 0 | ||
Net cash provided by (used in) investing activities | (9,414) | (12,323) | ||
Cash Flows from Financing Activities: | ||||
Cash paid for financing costs | 0 | 0 | ||
Cash paid for contingent purchase price consideration | (870) | (264) | ||
Proceeds from issuance of common stock, net of issuance costs | 0 | 0 | ||
Proceeds from issuance of long-term debt | 2,726 | |||
Payments on short-term debt | (584) | |||
Payments on long-term debt | (389) | (1,579) | ||
Proceeds from issuance of short-term debt | 806 | |||
Net payments under revolving credit facilities | 680 | 111 | ||
Cash paid for dividends | 0 | 0 | ||
Excess tax benefits on exercised stock options | 307 | 68 | ||
Principal payments on capital lease obligations | (1,647) | (1,577) | ||
Net cash provided by (used in) continuing operations | 223 | (2,435) | ||
Net cash used in discontinued operations | 0 | 0 | ||
Net cash provided by (used in) financing activities | 223 | (2,435) | ||
Foreign exchange effect on cash and cash equivalents | (1,445) | 1,846 | ||
Net increase (decrease) in cash and cash equivalents | 40,301 | 57,876 | ||
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 of continuing operations, end of period | 347,459 | 319,530 | 347,459 | 319,530 |
Less: Cash and cash equivalents of discontinued operations, end of period | 0 | 0 | ||
Cash and cash equivalents of continuing operations, end of period | 347,459 | 319,530 | 347,459 | 319,530 |
Eliminations [Member] | ||||
Cash Flows from Operating Activities: | ||||
Net income (loss) | (132,642) | (12,282) | (204,843) | (44,849) |
Income (loss) from discontinued operations, net of tax | 0 | 0 | 0 | |
Income (loss) from continuing operations | (12,282) | (204,843) | (44,849) | |
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | ||||
Equity in earnings of subsidiaries, net of tax | 132,620 | 205,553 | 47,897 | |
Tax benefit related to discontinued operations retained by Alere Inc | 0 | |||
Non-cash interest expense, including amortization of original issue discounts and deferred financing costs | 0 | 0 | ||
Depreciation and amortization | 35 | 47 | ||
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 | (15) | 8 | 18 | 125 |
Gain on sales of marketable securities | 0 | |||
Deferred income taxes | 438 | 1,659 | ||
Impairment and (gain) loss on dispositions, net | 0 | 0 | 0 | 0 |
Loss on extinguishment of debt | 0 | |||
Other non-cash items | 0 | 0 | ||
Non-cash change in fair value of contingent purchase price consideration | 0 | 0 | ||
Changes in assets and liabilities, net of acquisitions: | ||||
Accounts receivable, net | 0 | 0 | ||
Inventories, net | (1,411) | (4,725) | ||
Prepaid expenses and other current assets | (5,708) | (2,362) | ||
Accounts payable | 0 | 0 | ||
Accrued expenses and other current liabilities | 3,898 | (1,357) | ||
Other non-current liabilities | 1,615 | 3,718 | ||
Cash paid for contingent purchase price consideration | 0 | 0 | ||
Intercompany payable (receivable) | 0 | 0 | ||
Net cash provided by continuing operations | (405) | 153 | ||
Net cash provided by discontinued operations | 0 | 0 | ||
Net cash provided by (used in) operating activities | (405) | 153 | ||
Cash Flows from Investing Activities: | ||||
Increase in restricted cash | 0 | 0 | ||
Purchases of property, plant and equipment | 1,156 | 2,668 | ||
Proceeds from sale of property, plant and equipment | (817) | (2,755) | ||
Cash received from (used in) disposition, net of cash divested | 0 | 0 | ||
Cash paid for business acquisitions, net of cash acquired | 0 | |||
Cash received from equity method investments | 0 | 0 | ||
Cash received from sales of marketable securities | 0 | |||
Cash received from sales of marketable securities | 0 | |||
Cash received (paid) for investments | 0 | |||
(Increase) decrease in other assets | 66 | 59 | ||
Net cash provided by (used in) continuing operations | 405 | (28) | ||
Net cash used in discontinued operations | 0 | 0 | ||
Net cash provided by (used in) investing activities | 405 | (28) | ||
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 | ||
Proceeds from issuance of short-term debt | 0 | |||
Net 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 provided by (used in) continuing operations | 0 | 0 | ||
Net cash 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 | (125) | ||
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 of continuing operations, end of period | 0 | 0 | 0 | 0 |
Less: Cash and cash equivalents of discontinued operations, end of period | 0 | 0 | ||
Cash and cash equivalents of continuing operations, end of period | $ 0 | $ 0 | $ 0 | $ 0 |
Assets Held For Sale - Addition
Assets Held For Sale - Additional Information (Detail) - USD ($) $ in Millions | Jul. 02, 2015 | Jun. 30, 2015 |
TechLab [Member] | ||
Assets Held For Sale [Line Items] | ||
Ownership percentage | 49.00% | |
Subsequent Events [Member] | BBI Business [Member] | ||
Assets Held For Sale [Line Items] | ||
Sale of business, purchase price | $ 164.3 | |
Sale of business, contingent consideration | $ 46.6 |
Assets Held For Sale - Schedule
Assets Held For Sale - Schedule of Assets and Liabilities Associated with BBI Business Segregated and Classified as Assets Held for Sale and Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Assets held for sale - current | $ 28,631 | $ 315,515 |
Goodwill | 2,853,551 | 2,926,666 |
Assets held for sale - non-current | 129,194 | |
Liabilities | ||
Liabilities related to assets held for sale - current | 7,663 | 78,843 |
Deferred tax liabilities - non-current | 227,491 | $ 214,639 |
Liabilities related to assets held for sale - non-current | 11,527 | |
BBI Business [Member] | Discontinued Operations, Held-for-sale [Member] | ||
Assets | ||
Accounts receivable, net of allowances of $2,464 at June 30, 2015 | 11,997 | |
Inventories, net | 11,770 | |
Deferred tax assets - current | 142 | |
Prepaid expenses and other current assets | 4,722 | |
Assets held for sale - current | 28,361 | |
Property, plant and equipment, net | 11,126 | |
Goodwill | 59,506 | |
Finite-lived intangible assets, net | 43,044 | |
Other non-current assets | 3,155 | |
Assets held for sale - non-current | 116,881 | |
Liabilities | ||
Current portion of capital lease obligations | 6 | |
Accounts payable | 3,563 | |
Accrued expenses and other current liabilities | 4,094 | |
Liabilities related to assets held for sale - current | 7,663 | |
Capital lease obligations, net of current portion | 10 | |
Deferred tax liabilities - non-current | 10,381 | |
Other long-term liabilities | 1,136 | |
Liabilities related to assets held for sale - non-current | $ 11,527 |
Assets Held For Sale - Sched100
Assets Held For Sale - Schedule of Assets and Liabilities Associated with BBI Business Segregated and Classified as Assets Held for Sale and Liabilities (Parenthetical) (Detail) $ in Thousands | Jun. 30, 2015USD ($) |
BBI Business [Member] | Discontinued Operations, Held-for-sale [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Accounts receivable, allowances | $ 2,464 |
Subsequent Event - Additional I
Subsequent Event - Additional Information (Detail) $ in Millions | Jul. 10, 2015USD ($) |
Subsequent Events [Member] | US Diagnostics Inc [Member] | |
Subsequent Event [Line Items] | |
Payments to acquire business | $ 60 |