Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended |
Jun. 30, 2014 | |
Entity Information [Line Items] | ' |
Entity Registrant Name | 'Emdeon Inc. |
Entity Central Index Key | '0001444598 |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 30-Jun-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q2 |
Entity Voluntary Filers | 'Yes |
Entity Current Reporting Status | 'Yes |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 100 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $71,177 | $76,538 |
Accounts receivable, net of allowance for doubtful accounts of $4,325 and $3,856 at June 30, 2014 and December 31, 2013, respectively | 239,895 | 214,247 |
Deferred income tax assets | 17,809 | 6,317 |
Prepaid expenses and other current assets | 33,474 | 27,019 |
Total current assets | 362,355 | 324,121 |
Property and equipment, net | 242,188 | 269,470 |
Goodwill | 1,508,593 | 1,502,434 |
Intangible assets, net | 1,513,894 | 1,632,688 |
Other assets, net | 20,845 | 19,169 |
Total assets | 3,647,875 | 3,747,882 |
Current liabilities: | ' | ' |
Accounts payable | 9,245 | 8,367 |
Accrued expenses | 126,687 | 131,149 |
Deferred revenues | 10,001 | 10,881 |
Current portion of long-term debt | 23,565 | 31,330 |
Total current liabilities | 169,498 | 181,727 |
Long-term debt, excluding current portion | 2,000,548 | 1,999,026 |
Deferred income tax liabilities | 399,129 | 436,263 |
Tax receivable agreement obligations to related parties | 155,264 | 150,496 |
Other long-term liabilities | 13,333 | 11,824 |
Commitments and contingencies | ' | ' |
Equity: | ' | ' |
Common stock (par value, $.01), 100 shares authorized and outstanding at June 30, 2014 and December 31, 2013, respectively | 0 | 0 |
Additional paid-in capital | 1,144,280 | 1,139,375 |
Accumulated other comprehensive income (loss) | -2,175 | -1,343 |
Accumulated deficit | -232,002 | -169,486 |
Total equity | 910,103 | 968,546 |
Total liabilities and equity | $3,647,875 | $3,747,882 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts | $4,325 | $3,856 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenue | $336,158 | $305,283 | $655,365 | $604,642 |
Costs and expenses: | ' | ' | ' | ' |
Cost of operations (exclusive of depreciation and amortization below) | 201,398 | 188,026 | 395,538 | 371,449 |
Development and engineering | 7,380 | 7,626 | 16,616 | 15,324 |
Sales, marketing, general and administrative | 53,602 | 40,658 | 105,711 | 79,364 |
Depreciation and amortization | 46,630 | 43,946 | 93,093 | 90,762 |
Accretion | 4,844 | 7,459 | 4,768 | 11,599 |
Impairment of Long-Lived Assets Held-for-use | 76,508 | 1,893 | 79,576 | 1,862 |
Operating income | -54,204 | 15,675 | -39,937 | 34,282 |
Interest expense, net | 36,543 | 37,974 | 73,106 | 79,389 |
Contingent Consideration | -290 | ' | 1,670 | ' |
Other | -3,971 | ' | -3,971 | ' |
Income (loss) before income tax provision (benefit) | -86,486 | -45,459 | -110,742 | -68,267 |
Income tax provision (benefit) | -26,959 | -17,191 | -48,226 | -26,547 |
Net income (loss) | ($59,527) | ($28,268) | ($62,516) | ($41,720) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net income (loss) | ($59,527) | ($28,268) | ($62,516) | ($41,720) |
Other comprehensive income (loss): | ' | ' | ' | ' |
Changes in fair value of interest rate swap, net of taxes | -735 | 3,147 | -859 | 3,575 |
Foreign currency translation adjustment | 100 | -64 | 27 | -99 |
Other comprehensive income (loss) | -635 | 3,083 | -832 | 3,476 |
Total comprehensive income (loss) | ($60,162) | ($25,185) | ($63,348) | ($38,244) |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Equity (Unaudited) (USD $) | Total | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] |
In Thousands, except Share data | |||||
Balance at Dec. 31, 2012 | $1,032,151 | $0 | $1,130,968 | ($95,028) | ($3,789) |
Balance, shares at Dec. 31, 2012 | ' | 100 | ' | ' | ' |
Equity compensation expense | 3,547 | ' | 3,547 | ' | ' |
Repurchase of Parent common stock | -249 | ' | -249 | ' | ' |
Capital contribution from Parent | 0 | ' | ' | ' | ' |
Net income (loss) | -41,720 | ' | ' | -41,720 | ' |
Foreign currency translation adjustment | -99 | ' | ' | ' | -99 |
Change in fair value of interest rate swap, net of taxes | 3,575 | ' | ' | ' | 3,575 |
Balance at Jun. 30, 2013 | 997,205 | 0 | 1,134,266 | -136,748 | -313 |
Balance, shares at Jun. 30, 2013 | ' | 100 | ' | ' | ' |
Balance at Dec. 31, 2013 | 968,546 | 0 | 1,139,375 | -169,486 | -1,343 |
Balance, shares at Dec. 31, 2013 | ' | 100 | ' | ' | ' |
Equity compensation expense | 3,682 | ' | 3,682 | ' | ' |
Repurchase of Parent common stock | -869 | ' | -869 | ' | ' |
Capital contribution from Parent | 2,092 | ' | 2,092 | ' | ' |
Net income (loss) | -62,516 | ' | ' | -62,516 | ' |
Foreign currency translation adjustment | 27 | ' | ' | ' | 27 |
Change in fair value of interest rate swap, net of taxes | -859 | ' | ' | ' | -859 |
Balance at Jun. 30, 2014 | $910,103 | $0 | $1,144,280 | ($232,002) | ($2,175) |
Balance, shares at Jun. 30, 2014 | ' | 100 | ' | ' | ' |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Operating activities | ' | ' |
Net income (loss) | ($62,516) | ($41,720) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 93,093 | 90,762 |
Accretion | 4,768 | 11,599 |
Equity compensation | 3,682 | 3,547 |
Deferred income tax expense (benefit) | -48,695 | -27,451 |
Amortization of debt discount and issuance costs | 3,843 | 4,717 |
Contingent Consideration | 1,670 | ' |
Loss on extinguishment of debt | ' | 22,828 |
Impairment of long-lived assets | 79,576 | 1,862 |
Other | -2,029 | ' |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -25,648 | -10,208 |
Prepaid expenses and other | -7,251 | -697 |
Accounts payable | 1,237 | 5,498 |
Accrued expenses, deferred revenue and other liabilities | -7,897 | 23,539 |
Tax receivable agreement obligations to related parties | ' | -104 |
Net cash provided by (used in) operating activities | 33,833 | 84,172 |
Investing activities | ' | ' |
Purchases of property and equipment | -25,952 | -33,246 |
Payments for acquisitions, net of cash acquired | -779 | -18,291 |
Proceeds from sale of cost method investment | 36 | ' |
Net cash provided by (used in) investing activities | -26,695 | -51,537 |
Financing activities | ' | ' |
Debt principal payments | -7,669 | -6,472 |
Payment of debt assumed from acquisition | 1,877 | ' |
Payment of loan costs | ' | -2,178 |
Repayment of deferred financing arrangements | -4,176 | -1,844 |
Repurchase of Parent common stock | -869 | -249 |
Capital contribution from Parent | 2,092 | 0 |
Other | ' | -735 |
Net cash provided by (used in) financing activities | -12,499 | -11,479 |
Net increase (decrease) in cash and cash equivalents | -5,361 | 21,156 |
Cash and cash equivalents at beginning of period | 76,538 | 31,763 |
Cash and cash equivalents at end of period | $71,177 | $52,919 |
Nature_of_Business_and_Organiz
Nature of Business and Organization | 6 Months Ended |
Jun. 30, 2014 | |
Nature of Business and Organization | ' |
1. Nature of Business and Organization | |
Nature of Business | |
Emdeon Inc. (the “Company”), through its subsidiaries, is a provider of revenue and payment cycle management and clinical information exchange solutions, connecting payers, providers, pharmacies and patients of the United States healthcare system. The Company’s product and service offerings integrate and automate key business and administrative functions for healthcare payers, providers and pharmacies throughout the patient encounter, including pre-care patient eligibility and benefits verification and enrollment, clinical information exchange, claims management and adjudication, payment integrity, payment distribution, payment posting and denial management and patient billing and payment processing. | |
Organization | |
The Company was formed as a Delaware limited liability company in September 2006 and converted into a Delaware corporation in September 2008 in anticipation of the Company’s August 2009 initial public offering (the “IPO”). | |
On November 2, 2011, pursuant to an Agreement and Plan of Merger among the Company, Beagle Parent Corp. (“Parent”) and Beagle Acquisition Corp. (“Merger Sub”), Merger Sub merged with and into the Company with the Company surviving the merger (the “Merger”). Subsequent to the Merger, the Company became an indirect wholly-owned subsidiary of Parent, which is controlled by affiliates of The Blackstone Group L.P. (“Blackstone”). |
Basis_of_Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2014 | |
Basis of Presentation and Summary of Significant New Accounting Policies | ' |
2. Basis of Presentation | |
Principles of Consolidation | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”) Guidelines, Rules and Regulations (“Regulation S-X”) and, in the opinion of management, reflect all normal recurring adjustments necessary for a fair presentation of results for the unaudited interim periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. The results of operations for the interim period are not necessarily indicative of the results to be obtained for the full fiscal year. All material intercompany accounts and transactions have been eliminated in the unaudited condensed consolidated financial statements. | |
Reclassifications | |
Certain reclassifications have been made to the prior period financial statements to conform to the current period presentation. The Company changed the classification of rebate payments to its channel partners from cost of operations to a reduction of revenue to the extent that such rebate payments for any given channel partner were less than or equal to revenue otherwise earned from the respective channel partner. To conform to the current period presentation, rebate payments to channel partners resulted in a reduction of revenue of $6,202 and $12,545 for the three and six months ended June 30, 2013, respectively. | |
Accounting Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience, current business factors and various other assumptions that the Company believes are necessary to consider in order to form a basis for making judgments about the carrying values of assets and liabilities, the recorded amounts of revenue and expenses and disclosure of contingent assets and liabilities. The Company is subject to uncertainties such as the impact of future events, economic, environmental and political factors and changes in the Company's business environment; therefore, actual results could differ materially from these estimates. Accordingly, the accounting estimates used in the preparation of the Company's financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company's operating environment changes. Changes in estimates are made when circumstances warrant. Such changes in estimates and refinements in estimation methodologies are reflected in the reported results of operations; and if material, the effects of changes in estimates are disclosed in the notes to the consolidated financial statements. Estimates and assumptions by management affect: the allowance for doubtful accounts; the fair value assigned to assets acquired and liabilities assumed in business combinations; tax receivable agreement obligations; the fair value of interest rate swap obligations; contingent consideration; loss accruals; the carrying value of long-lived assets (including goodwill and intangible assets); the amortization period of long-lived assets (excluding goodwill); the carrying value, capitalization and amortization of software development costs; the provision and benefit for income taxes and related deferred tax accounts; certain accrued expenses; revenue recognition; contingencies; and the value attributed to equity awards. | |
Recent Accounting Pronouncements | |
In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, which changes the requirements for reporting discontinued operations. Following adoption of this update, discontinued operations generally will be reported for the disposal by sale or otherwise of a component or a group of components that represents a strategic shift that has or will have a major effect on an entity’s operations and financial results. This update is effective for fiscal years and interim periods beginning in those years after December 15, 2014, with early adoption permitted. The Company is currently assessing whether to adopt this update prior to the required effective date. | |
In May 2014, the FASB issued ASU No. 2014-09, which replaces most prior general and industry specific revenue recognition guidance with a principles-based comprehensive revenue recognition framework. Under this revised framework, a company will recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. This update is effective for fiscal years and interim periods beginning in those years after December 15, 2016. Early adoption is not permitted. Upon adoption, a company may elect to either retrospectively restate each prior reporting period or reflect the cumulative effect of initially applying the update with an adjustment to retained earnings. The Company is currently assessing the potential effects this update may have on its consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-12, which clarifies, in the context of share-based payment awards, that a performance target that affects vesting and could be achieved after the requisite service period has been rendered should be treated as a performance condition. Prior to this update, because there was no explicit guidance, there was diversity in practice among companies. This update is effective for fiscal years and interim periods within those years beginning after December 15, 2015, with early adoption permitted. The Company does not expect the adoption of this update to have a material effect on its consolidated financial statements. | |
Concentration_of_Credit_Risk
Concentration of Credit Risk | 6 Months Ended |
Jun. 30, 2014 | |
Concentration of Credit Risk | ' |
3. Concentration of Credit Risk | |
The Company’s revenue is primarily generated in the United States. Changes in economic conditions, government regulations or demographic trends, among other matters, in the United States could adversely affect the Company’s revenue and results of operations. | |
The Company maintains its cash and cash equivalent balances in either insured depository accounts or money market mutual funds. The money market mutual funds are limited to investments in low-risk securities such as United States or government agency obligations, or repurchase agreements secured by such securities. |
Business_Combinations
Business Combinations | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Business Combinations | ' | |||||||
4. Business Combinations | ||||||||
In February 2014, the Company acquired all of the equity interests of Vieosoft, Inc. (“Vieosoft”), a development stage enterprise. | ||||||||
In June 2013, the Company acquired all of the equity interests of Goold Health Systems (“Goold”), a technology-enabled provider of pharmacy benefit and related services primarily to state Medicaid agencies across the nation. | ||||||||
The following table summarizes certain information related to these acquisitions. | ||||||||
Vieosoft | Goold | |||||||
Total Consideration Fair Value at Acquisition Date: | ||||||||
Cash paid at closing | $ | 800 | $ | 19,391 | ||||
Contingent consideration | 6,015 | 5,553 | ||||||
Other | - | -5 | ||||||
$ | 6,815 | $ | 24,939 | |||||
Allocation of the Consideration Transferred: | ||||||||
Cash | $ | 21 | $ | 1,101 | ||||
Accounts receivable | - | 3,435 | ||||||
Prepaid expenses and other current assets | - | 647 | ||||||
Property and equipment | - | 7,695 | ||||||
Identifiable intangible assets: | ||||||||
Noncompetition agreements | 1,320 | 280 | ||||||
Customer relationships | - | 5,160 | ||||||
Backlog and other | 2,060 | 460 | ||||||
Goodwill | 6,159 | 14,300 | ||||||
Accounts payable | - | -541 | ||||||
Accrued expenses | -194 | -2,076 | ||||||
Deferred revenues | - | -101 | ||||||
Current maturities of long-term debt | -1,877 | -218 | ||||||
Deferred income tax liabilities | -674 | -5,203 | ||||||
Total consideration transferred | $ | 6,815 | $ | 24,939 | ||||
Acquisition costs in sales, marketing, general and administrative expense: | ||||||||
For the three months ended June 30, 2014 | $ | - | $ | - | ||||
For the three months ended June 30, 2013 | $ | - | $ | 254 | ||||
For the six months ended June 30, 2014 | $ | 111 | $ | - | ||||
For the six months ended June 30, 2013 | $ | - | $ | 258 | ||||
Vieosoft | Goold | |||||||
Other Information: | ||||||||
Gross contractual accounts receivable | $ | - | $ | 3,435 | ||||
Amount not expected to be collected | $ | - | $ | - | ||||
Goodwill expected to be deductible for tax purposes | $ | - | $ | - | ||||
Contingent Consideration Information: | ||||||||
Contingent consideration range | $0-$43,104 | $0-15,000 | ||||||
Measurement period | February 12, 2014 to December 31, 2017 | July 1, 2013 to September 30, 2014 | ||||||
Basis of measurement | Milestone achievement, revenue performance | Award of contracts with annual revenue exceeding targeted amount | ||||||
Type of measurement | Level 3 | Level 3 | ||||||
Key assumptions at the acquisition date: | ||||||||
Probability of achieving milestone objectives | 90% | N/A | ||||||
Probability of achieving minimum gross profit margin | 5% for 2015 -90% for 2017 | N/A | ||||||
Probability of winning new contracts | N/A | 10%-50% | ||||||
Probability of retaining contracts that expire during the measurement period | N/A | 90% | ||||||
Range of baseline revenue retention for existing customers | N/A | 75%-125% | ||||||
Expected payment date(s) | 2015-2017 | 12/15/14 | ||||||
Discount rate(s) | 5.2% to 53.2% | 15.40% | ||||||
Increase (decrease) to net loss: | ||||||||
For the three months ended June 30, 2014 | $ | 431 | $ | -721 | ||||
For the six months ended June 30, 2014 | $ | 658 | $ | 1,012 | ||||
The Company generally recognizes goodwill attributable to the assembled workforce and expected synergies among the operations of acquired entities and the Company’s existing operations. In the case of the Company’s acquisitions of operating companies, synergies generally have resulted from the elimination of duplicative facilities and personnel costs and cross selling opportunities among the Company’s existing customer base. | ||||||||
Goodwill is generally deductible for federal income tax purposes when a business combination is treated as an asset purchase. Goodwill is generally not deductible for federal income tax purposes when the business combination is treated as a stock purchase. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||
5. Goodwill and Intangible Assets | |||||||||||||||||
Goodwill activity during the three and six months ended June 30, 2014 consisted of an increase to goodwill in the pharmacy services segment of $6,159 related to the Vieosoft acquisition in February 2014. | |||||||||||||||||
Intangible assets subject to amortization as of June 30, 2014 consisted of the following: | |||||||||||||||||
Weighted | Gross | ||||||||||||||||
Average | Carrying | Accumulated | |||||||||||||||
Remaining Life | Amount | Amortization | Net | ||||||||||||||
Customer relationships | 15.9 | $ | 1,563,722 | $ | -211,671 | $ | 1,352,051 | ||||||||||
Trade names | 17 | 156,530 | -21,183 | 135,347 | |||||||||||||
Non-compete agreements | 2.3 | 14,400 | -7,232 | 7,168 | |||||||||||||
Data sublicense agreement | 3.3 | 31,000 | -13,965 | 17,035 | |||||||||||||
Other | 5.9 | 2,523 | -230 | 2,293 | |||||||||||||
Total | $ | 1,768,175 | $ | -254,281 | $ | 1,513,894 | |||||||||||
Amortization expense was $49,887 and $53,000 for the six months ended June 30, 2014 and 2013, respectively. Aggregate future amortization expense for intangible assets is estimated to be: | |||||||||||||||||
2014 (remainder) | $ | 50,982 | |||||||||||||||
2015 | 101,557 | ||||||||||||||||
2016 | 100,970 | ||||||||||||||||
2017 | 97,695 | ||||||||||||||||
2018 | 93,671 | ||||||||||||||||
Thereafter | 1,069,019 | ||||||||||||||||
$ | 1,513,894 | ||||||||||||||||
During the three months ended June 30, 2014, the Company recognized an impairment charge related to the | |||||||||||||||||
pending partial loss of a customer contract. See Note 8 to the unaudited condensed consolidated financial statements included in Item 1 of this Quarterly Report. |
LongTerm_Debt
Long-Term Debt | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Long-Term Debt | ' | ||||||||
6. Long-Term Debt | |||||||||
In November 2011, the Company entered into a credit agreement which was comprised of a senior secured term loan facility (the “Term Loan Facility”), a revolving credit facility (the “Revolving Facility”; together with the Term Loan Facility, the “Senior Credit Facilities”), 11% senior notes due 2019 (the “2019 Notes”) and 11.25% senior notes due 2020 (the “2020 Notes”; together with the 2019 Notes, the “Senior Notes”). | |||||||||
Long-term debt as of June 30, 2014 and December 31, 2013, consisted of the following: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Senior Credit Facilities | |||||||||
$1,301 million Senior Secured Term Loan facility, due November 2, 2018, net of | |||||||||
unamortized discount of $14,295 and $15,826 at June 30, 2014 and | |||||||||
December 31, 2013, respectively (effective interest rate of 4.21%) | $ | 1,256,307 | $ | 1,262,445 | |||||
$125 million Senior Secured Revolving Credit facility, expiring on November | |||||||||
2, 2016 and bearing interest at a variable base rate plus a spread rate | - | - | |||||||
Senior Notes | |||||||||
$375 million 11% Senior Notes due December 31, 2019, net of unamortized | |||||||||
discount of $7,205 and $7,664 at June 30, 2014 and December 31, 2013, | |||||||||
respectively (effective interest rate of 11.53%) | 367,795 | 367,336 | |||||||
$375 million 11.25% Senior Notes due December 31, 2020, net of unamortized | |||||||||
discount of $9,106 and $9,560 at June 30, 2014 and December 31, 2013, | |||||||||
respectively (effective interest rate of 11.86%) | 365,894 | 365,440 | |||||||
Obligation under data sublicense agreement | 22,543 | 22,543 | |||||||
Other | 11,574 | 12,592 | |||||||
Less current portion | -23,565 | -31,330 | |||||||
Long-term debt | $ | 2,000,548 | $ | 1,999,026 | |||||
Senior Credit Facilities | |||||||||
The credit agreement governing the Senior Credit Facilities (the “Senior Credit Agreement”) provides that, subject to certain conditions, the Company may request additional tranches of term loans, increase commitments under the Revolving Facility or the Term Loan Facility or add one or more incremental revolving credit facility tranches (provided that the revolving credit commitments outstanding at any time have no more than three different maturity dates) in an aggregate amount not to exceed (a) $300,000 plus (b) an unlimited amount at any time, subject to compliance on a pro forma basis with a first lien net leverage ratio of no greater than 4.00:1.00. Availability of such additional tranches of term loans or revolving credit facilities and/or increased commitments is subject to, among other conditions, the absence of any default under the Senior Credit Agreement and the receipt of commitments by existing or additional financial institutions. Proceeds of the Revolving Facility, including up to $30,000 in the form of borrowings on same-day notice, referred to as swingline loans, and up to $50,000 in the form of letters of credits, are available to provide financing for working capital and general corporate purposes. | |||||||||
Borrowings under the Senior Credit Facilities bear interest at an annual rate equal to an applicable margin plus, at the Company’s option, either (a) a base rate determined by reference to the highest of (i) the applicable prime rate, (ii) the federal funds rate plus 0.50% and (iii) a LIBOR rate determined by reference to the costs of funds for United States dollar deposits for an interest period of one month, adjusted for certain additional costs, plus 1.00%, which base rate, in the case of the Term Loan Facility only, shall be no less than 2.25%, or (b) a LIBOR rate determined by reference to the costs of funds for United States dollar deposits for the interest period relevant to such borrowing, adjusted for certain additional costs, which, in the case of the Term Loan Facility only, shall be no less than 1.25%. | |||||||||
In April 2012, the Company amended the Senior Credit Agreement to reprice the Senior Credit Facilities and borrow $80,000 of additional term loans. Following this amendment, the LIBOR-based interest rate on the Term Loan Facility was LIBOR plus 3.75%, compared to the previous interest rate of LIBOR plus 5.50%. The new LIBOR-based interest rate on the Revolving Facility was LIBOR plus 3.50% (with a potential step-down to LIBOR plus 3.25% based on the Company’s first lien net leverage ratio), compared to the previous interest rate of LIBOR plus 5.25% (with a potential step-down to LIBOR plus 5.00% based on the Company’s first lien net leverage ratio). | |||||||||
In April 2013, the Company again amended the Senior Credit Agreement to further reprice, and also to modify certain financial covenants under, the Senior Credit Facilities. Following this amendment, the interest rate on the Term Loan Facility is LIBOR plus 2.50%, compared to the previous interest rate of LIBOR plus 3.75%. The new interest rate on the Revolving Facility is LIBOR plus 2.50%, compared to the previous interest rate of LIBOR plus 3.50% (or 3.25% based on a specified first lien net leverage ratio). The Term Loan Facility remains subject to a LIBOR floor of 1.25%, and there continues to be no LIBOR floor on the Revolving Facility. In connection with the April 2013 repricing, the Senior Credit Agreement also was amended to, among other things, eliminate the financial covenant related to the consolidated cash interest coverage ratio and modify the financial covenant related to the net leverage test by maintaining the required first lien net leverage ratio at 5.35 to 1.00 for the remaining term of the Senior Credit Facilities. | |||||||||
These amendments to the Senior Credit Agreement resulted in a loss on extinguishment of debt of $23,160 and other expenses related to fees paid to third parties of $1,151 for the three and six months ended June 30, 2013, which have been reflected within sales, marketing, general and administrative expense in the accompanying consolidated statements of operations. | |||||||||
In addition to paying interest on outstanding principal under the Senior Credit Facilities, the Company is required to pay customary agency fees, letter of credit fees and a 0.50% commitment fee in respect of the unutilized commitments under the Revolving Facility. | |||||||||
The Senior Credit Agreement requires that the Company prepay outstanding loans under the Term Loan Facility, subject to certain exceptions, with (a) 100% of the net cash proceeds of any incurrence of debt other than debt permitted under the Senior Credit Agreement, (b) commencing with the fiscal year ended December 31, 2012, 50% (which percentage will be reduced to 25% and 0% based on the Company’s first lien net leverage ratio) of the Company’s annual excess cash flow and (c) 100% of the net cash proceeds of certain asset sales and casualty and condemnation events, subject to reinvestment rights and certain other exceptions. | |||||||||
The Company generally may voluntarily prepay outstanding loans under the Senior Credit Facilities at any time without premium or penalty other than breakage costs with respect to LIBOR loans. | |||||||||
The Company is required to make quarterly payments equal to 0.25% of the aggregate principal amount of the loans under the Term Loan Facility, with the balance due and payable on November 2, 2018. Any principal amount outstanding under the Revolving Facility is due and payable on November 2, 2016. | |||||||||
Certain of the Company’s United States wholly-owned restricted subsidiaries, together with the Company, are co-borrowers and jointly and severally liable for all obligations under the Senior Credit Facilities. Such obligations of the co-borrowers are unconditionally guaranteed by Beagle Intermediate Holdings, Inc. (a direct wholly-owned subsidiary of Parent), the Company and each of its existing and future United States wholly-owned restricted subsidiaries (with certain exceptions including immaterial subsidiaries). These obligations are secured by a perfected security interest in substantially all of the assets of the co-borrowers and guarantors now owned or later acquired, including a pledge of all of the capital stock of the Company and its United States wholly-owned restricted subsidiaries and 65% of the capital stock of its foreign restricted subsidiaries, subject in each case to the exclusion of certain assets and additional exceptions. | |||||||||
The Senior Credit Agreement requires the Company to comply with a maximum first lien net leverage ratio financial maintenance covenant, to be tested on the last day of each fiscal quarter. A breach of the first lien net leverage ratio covenant is subject to certain equity cure rights. In addition, the Senior Credit Facilities contain a number of negative covenants that, among other things and subject to certain exceptions, restrict the Company’s ability and the ability of its subsidiaries to: | |||||||||
incur additional indebtedness or guarantees; | |||||||||
incur liens; | |||||||||
make investments, loans and acquisitions; | |||||||||
consolidate or merge; | |||||||||
sell assets, including capital stock of subsidiaries; | |||||||||
pay dividends on capital stock or redeem, repurchase or retire capital stock of the Company or any restricted subsidiary, subject to customary covenants, including compliance with leverage ratios and subject to limitation based on net income generated during the term of the Senior Credit Agreement; | |||||||||
alter the business of the Company; | |||||||||
amend, prepay, redeem or purchase subordinated debt; | |||||||||
engage in transactions with affiliates; and | |||||||||
enter into agreements limiting dividends and distributions of certain subsidiaries. | |||||||||
The Senior Credit Agreement also contains certain customary representations and warranties, affirmative covenants and provisions relating to events of default (including upon change of control). | |||||||||
As of June 30, 2014, the Company believes it was in compliance with all of the applicable debt covenants under the Senior Credit Agreement. | |||||||||
Senior Notes | |||||||||
The 2019 Notes bear interest at an annual rate of 11.00% with interest payable semi-annually on June 30 and December 31 of each year. The 2019 Notes mature on December 31, 2019. The 2020 Notes bear interest at an annual rate of 11.25% with interest payable quarterly on March 31, June 30, September 30 and December 31 of each year. The 2020 Notes mature on December 31, 2020. | |||||||||
The Company may redeem the 2019 Notes, the 2020 Notes or both, in whole or in part, at any time on or after December 31, 2015 at the applicable redemption price, plus accrued and unpaid interest. In addition, at any time prior to December 31, 2014, the Company may, at its option and on one or more occasions, redeem up to 35% of the aggregate principal amount of the 2019 Notes or the 2020 Notes, at a redemption price equal to 100% of the aggregate principal amount, plus a premium equal to the stated interest rate on the 2019 Notes or the 2020 Notes, respectively, plus accrued and unpaid interest with the net cash proceeds of certain equity offerings; provided that at least 50% of the sum of the aggregate principal amount of the 2019 Notes or 2020 Notes, respectively, originally issued (including any additional notes) remain outstanding immediately after such redemption and the redemption occurs within 180 days of the equity offering. At any time prior to December 31, 2015, the Company may redeem the 2019 Notes, the 2020 Notes or both, in whole or in part, at its option and on one or more occasions, at a redemption price equal to 100% of the principal amount, plus an applicable premium and accrued and unpaid interest. If the Company experiences specific kinds of changes in control, it must offer to purchase the Senior Notes at a purchase price equal to 101% of the principal amount, plus accrued and unpaid interest. | |||||||||
The Senior Notes are senior unsecured obligations and rank equally in right of payment with all of the Company’s existing and future indebtedness and senior in right of payment to all of its existing and future subordinated indebtedness. The Company’s obligations under the Senior Notes are guaranteed on a senior basis by all of its existing and subsequently acquired or organized wholly-owned United States restricted subsidiaries that guarantee the Senior Credit Facilities or its other indebtedness or indebtedness of any affiliate guarantor. The Senior Notes and the related guarantees are effectively subordinated to the Company’s existing and future secured obligations and that of its affiliate guarantors to the extent of the value of the collateral securing such obligations, and are structurally subordinated to all existing and future indebtedness and other liabilities of any of the Company’s subsidiaries that do not guarantee the Senior Notes. | |||||||||
The indentures governing the Senior Notes (the “Indentures”) contain customary covenants that restrict the ability of the Company and its restricted subsidiaries to: | |||||||||
pay dividends on our capital stock or redeem, repurchase or retire our capital stock, subject to customary covenants, including compliance with a fixed charge coverage ratio and subject to limitation based on net income generated during the term of the Indentures; | |||||||||
incur additional indebtedness or issue certain capital stock; | |||||||||
incur certain liens; | |||||||||
make investments, loans, advances and acquisitions; | |||||||||
consolidate, merge or transfer all or substantially all of their assets and the assets of their subsidiaries; | |||||||||
prepay subordinated debt; | |||||||||
engage in certain transactions with affiliates; and | |||||||||
enter into agreements restricting the subsidiaries’ ability to pay dividends. | |||||||||
The Indentures also contain certain customary affirmative covenants and events of default. | |||||||||
As of June 30, 2014, the Company believes it was in compliance with all of the applicable debt covenants under the Senior Notes. | |||||||||
Obligation Under Data Sublicense Agreement | |||||||||
In October 2009 and April 2010, the Company acquired certain additional rights to specified uses of its data from the former owner of the Company’s business in order to broaden the Company’s ability to pursue business intelligence and data analytics solutions for payers and providers. The Company previously licensed exclusive rights to this data to the former owner of the Company’s business. In connection with these data rights acquisitions, the Company recorded amortizable intangible assets and corresponding obligations at inception based on the present value of the scheduled annual payments through 2018, which totaled $65,000 in the aggregate (approximately $30,000 remained payable at June 30, 2014). In connection with the Merger, the Company was required to adjust this obligation to its fair value. | |||||||||
Other | |||||||||
From time to time, the Company enters into deferred financing arrangements with certain vendors. The obligations under such arrangements are recorded at the present value of the scheduled payments. Such future payments totaled $10,354 at June 30, 2014. |
Interest_Rate_Swap
Interest Rate Swap | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Interest Rate Swap | ' | |||||||||||||
7. Interest Rate Swap | ||||||||||||||
Risk Management Objective of Using Derivatives | ||||||||||||||
The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s borrowings. | ||||||||||||||
Cash Flow Hedges of Interest Rate Risk | ||||||||||||||
The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. During the three and six months ended June 30, 2014, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt pursuant to the Term Loan Facility. As of June 30, 2014, the Company had three outstanding interest rate derivatives with a combined notional amount of $640,000 that were designated as cash flow hedges of interest rate risk. | ||||||||||||||
The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. During the next twelve months, the Company estimates that an additional $2,575 will be reclassified as an increase to interest expense. | ||||||||||||||
The following table summarizes the fair value of the Company’s derivative instruments at June 30, 2014 and December 31, 2013: | ||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||
Asset (Liability) Derivatives | ||||||||||||||
June 30, | December 31, | |||||||||||||
Balance Sheet Location | 2014 | 2013 | ||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||
Interest rate swaps | Other assets | $ | - | $ | 899 | |||||||||
Interest rate swaps | Accrued expenses | -2,575 | -2,575 | |||||||||||
Interest rate swaps | Other long-term liabilities | -564 | - | |||||||||||
$ | -3,139 | $ | -1,676 | |||||||||||
Tabular Disclosure of the Effect of Derivative Instruments on the Statement of Operations | ||||||||||||||
The effect of the derivative instruments on the accompanying unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2014 and 2013, respectively, is summarized in the following table: | ||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||
June 30, | June 30, | June 30, | June 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Derivatives in Cash Flow Hedging Relationships | ||||||||||||||
Gain/ (loss) related to effective portion of derivative recognized | ||||||||||||||
in other comprehensive loss | $ | -1,897 | $ | 4,358 | $ | -2,745 | $ | 4,402 | ||||||
Gain/ (loss) related to effective portion of derivative reclassified | ||||||||||||||
from accumulated other comprehensive loss to interest expense | $ | -645 | $ | -645 | $ | -1,283 | $ | -1,283 | ||||||
Credit Risk-related Contingent Features | ||||||||||||||
The Company has agreements with each of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company also could be declared in default on its derivative obligations. | ||||||||||||||
As of June 30, 2014, the termination value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $3,882. If the Company had breached any of these provisions at June 30, 2014, the Company could have been required to settle its obligations under the agreements at this termination value. The Company does not offset any derivative instruments and the derivative instruments are not subject to collateral posting requirements. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
8. Fair Value Measurements | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||||||||||||||||
The Company’s assets and liabilities that are measured at fair value on a recurring basis consist of the Company’s derivative financial instruments and contingent consideration associated with business combinations. The table below summarizes these items as of June 30, 2014, aggregated by the level in the fair value hierarchy within which those measurements fall. | ||||||||||||||||
Significant | ||||||||||||||||
Quoted in | Significant Other | Unobservable | ||||||||||||||
Balance at | Markets | Observable Inputs | Inputs | |||||||||||||
Description | 30-Jun-14 | Identical (Level 1) | (Level 2) | (Level 3) | ||||||||||||
Interest rate swaps | $ | -3,139 | $ | - | $ | -3,139 | $ | - | ||||||||
Contingent consideration obligations | -13,169 | - | - | -13,169 | ||||||||||||
Total | $ | -16,308 | $ | - | $ | -3,139 | $ | -13,169 | ||||||||
The valuation of the Company’s derivative financial instruments is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves. The fair value of the interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments (or receipts) and the discounted expected variable cash receipts (or payments) using the overnight index swap rate as the discount rate. | ||||||||||||||||
The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements and measures the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. | ||||||||||||||||
Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs to evaluate the likelihood of default by itself and by its counterparties. As of June 30, 2014, the Company determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. | ||||||||||||||||
The valuation of the Company’s contingent consideration obligations is estimated as the present value of total expected contingent consideration payments which are determined using a Monte Carlo simulation. This analysis reflects the contractual terms of the purchase agreements and utilizes assumptions with regard to future sales, probabilities of achieving such future sales, the likelihood and timing of expected payments and a discount rate. Significant increases with respect to assumptions as to future sales and probabilities of achieving such future sales would result in a higher fair value measurement, while an increase in the discount rate would result in a lower fair value measurement. | ||||||||||||||||
The table below presents a reconciliation of the fair value of the liabilities that use significant unobservable inputs (Level 3). | ||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||
Three Months | Three Months | Six Months | Six Months | |||||||||||||
Ended June 30, | Ended June 30, | Ended June 30, | Ended June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Balance at beginning of period | $ | -13,459 | $ | -237 | $ | -5,484 | $ | -296 | ||||||||
Issuance of contingent consideration | - | -5,717 | -6,015 | -5,717 | ||||||||||||
Settlement of contingent consideration | - | 67 | - | 126 | ||||||||||||
Total changes included in contingent consideration | 290 | - | -1,670 | - | ||||||||||||
Balance at end of period | $ | -13,169 | $ | -5,887 | $ | -13,169 | $ | -5,887 | ||||||||
Assets and Liabilities Measured at Fair Value on a Non-recurring Basis | ||||||||||||||||
During the three months ended June 30, 2014, the Company's pharmacy services segment received notice that its existing contract with a customer would not be renewed in full upon its expiration. As a result, the Company abandoned a customer related project that was under development and assessed the recoverability of the net assets included in the relevant asset group. The Company recognized an impairment charge to write off the abandoned project and to adjust the carrying value of the asset group to its fair value. This latter impairment charge was generally allocated to the affected long-lived assets on a pro rata basis. Additionally, the Company abandoned certain pharmacy services and provider services segment development projects in connection with execution of certain strategic initiatives during the three months ended June 30, 2014. | ||||||||||||||||
The following table summarizes the affected financial statement captions, the allocation of the impairment charges among those captions and provides certain quantitative information associated with the required fair value measurements. | ||||||||||||||||
Range of Inputs | Fair Value | Impairment | ||||||||||||||
Long-lived assets to be held and used | ||||||||||||||||
Relevant asset group | N/A | $ | 13,066 | $ | 73,220 | |||||||||||
Balance sheet account: | ||||||||||||||||
Customer relationships | N/A | N/A | $ | 72,290 | ||||||||||||
Property and equipment | N/A | N/A | $ | 930 | ||||||||||||
Unobservable inputs (discounted cash flow method): | ||||||||||||||||
Probability of contract extension | 80% | N/A | N/A | |||||||||||||
Probability of new contract execution | 20%-90% | N/A | N/A | |||||||||||||
Expected annual revenue range | $3,080-$3,590 | N/A | N/A | |||||||||||||
Risk free interest rate | 1.60% | N/A | N/A | |||||||||||||
Long-lived assets to be disposed of | ||||||||||||||||
Property and Equipment | N/A | $ | - | $ | 3,040 | |||||||||||
Assets and Liabilities Measured at Fair Value upon Initial Recognition | ||||||||||||||||
The carrying amount and the estimated fair value of financial instruments held by the Company as of June 30, 2014 were: | ||||||||||||||||
Carrying | ||||||||||||||||
Amount | Fair Value | |||||||||||||||
Cash and cash equivalents | $ | 71,177 | $ | 71,177 | ||||||||||||
Accounts receivable | $ | 239,895 | $ | 239,895 | ||||||||||||
Senior Credit Facilities (Level 1) | $ | 1,256,307 | $ | 1,273,778 | ||||||||||||
Senior Notes (Level 2) | $ | 733,689 | $ | 870,675 | ||||||||||||
The carrying amounts of cash equivalents and accounts receivable approximate fair value because of their short-term maturities. The fair value of long-term debt is based upon market quotes and trades by investors in partial interests of these instruments. |
Legal_Proceedings
Legal Proceedings | 6 Months Ended |
Jun. 30, 2014 | |
Legal Proceedings | ' |
9. Legal Proceedings | |
The Company has accrued an estimated loss of $7,500 related to a vendor fee dispute, with $2,500 of this amount recognized during the three months ended June 30, 2014. The Company currently believes the reasonably estimable range of possible loss for this vendor dispute to be $7,500 to $8,000. | |
Additionally, in the normal course of business, the Company is involved in various claims and legal proceedings. While the ultimate resolution of these matters has yet to be determined, the Company does not believe that their outcomes will have a material adverse effect on the Company’s consolidated financial position, results of operations or liquidity. |
Income_Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2014 | |
Income Taxes | ' |
10. Income Taxes | |
In January 2014, the Company effected a change in the tax status of EBS Master LLC (“EBS Master”) from a partnership to a corporation. Prior to the tax status change, the Company recognized a deferred tax liability for the difference in the book and tax basis of its investment in EBS Master (i.e. outside basis). Following the tax status change, the Company’s deferred tax balances reflect the differences in the book and tax bases of the individual assets and liabilities included in the corporation. In addition, as a result of the change in tax status, the Company was required to revise the apportionment of its income taxes among various state taxing jurisdictions. The effect of this change in tax status resulted in the recognition of an income tax benefit for the six months ended June 30, 2014. Additionally, as a result of the impairment charge recognized in connection with the pending partial loss of a customer contract, the Company was required to recognize a valuation allowance related to its state deferred tax assets for three of its subsidiaries. | |
After giving effect to this change in tax status and the recognition of the valuation allowance, income taxes for the six months ended June 30, 2014 amounted to an income tax benefit of $48,226 and an effective tax rate of 43.5%. The income tax benefit for the six months ended June 30, 2013, which does not reflect the change in tax status, was $26,547 and resulted in an effective tax rate of 38.9% |
Tax_Receivable_Agreement_Oblig
Tax Receivable Agreement Obligation to Related Parties | 6 Months Ended |
Jun. 30, 2014 | |
Tax Receivable Agreement Obligation to Related Parties | ' |
11. Tax Receivable Agreement Obligation to Related Parties | |
In connection with the IPO, the Company entered into tax receivable agreements which obligated the Company to make payments to certain current and former owners of the Company, including affiliates of Hellman and Friedman (“H&F”) and certain members of management, equal to 85% of the applicable cash savings that the Company realizes as a result of tax attributes arising from certain previous transactions. The Company will retain the benefit of the remaining 15% of these tax savings. | |
In November 2011, H&F and certain current and former members of management exchanged all of their remaining EBS Master Units (“EBS Units”) for cash and a combination of cash and shares of Parent, respectively, and the former majority owner of the Company assigned its rights under the tax receivable agreements to affiliates of Blackstone (Blackstone, together with H&F and certain current and former members of management are sometimes referred to collectively as the “TRA Members”). Additionally, effective December 31, 2011, the Company simplified its corporate structure. The tax attributes of the exchange of EBS Units and corporate restructuring are expected to provide the Company with additional cash savings, 85% of which are payable to the TRA Members. Collectively, the Company expects the tax attributes of the above referenced events to result in cumulative payments under the tax receivable agreements of approximately $353,457. $156,238 of this amount, which reflected the initial fair value of the tax receivable agreement obligations plus recognized accretion, was reflected as an obligation on the accompanying unaudited condensed consolidated balance sheet at June 30, 2014. | |
During the six months ended June 30, 2014, the Company changed its estimate of the timing and amount of future cash flows attributable to the tax receivable agreements as a result of the effective tax rate change resulting from the change in tax status of EBS Master from a partnership to a corporation and the acquisition of Vieosoft. These revised estimates resulted in a decrease to pretax net loss of $4,570 for the six months ended June 30, 2014. |
Segment_Reporting
Segment Reporting | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Segment Reporting | ' | |||||||||||||||||||
12. Segment Reporting | ||||||||||||||||||||
Effective January 1, 2014, the Company completed an internal reorganization of its reporting structure which resulted in a change in the composition of its operating segments. Additionally, the Company periodically makes other changes to the composition of its operating segments. Prior period segment information is restated to reflect the organizational structure and any other changes made. | ||||||||||||||||||||
Management views the Company’s operating results in three reportable segments: (a) payer services, (b) provider services and (c) pharmacy services. Listed below are the results of operations for each of the reportable segments. In addition to these reportable segments, the Company reports financial information for two additional operating segments that is presented on an aggregate basis. This information is reflected in the manner utilized by management to make operating decisions, assess performance and allocate resources. Segment assets are not presented to management for purposes of operational decision making, and therefore are not included in the accompanying tables. The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies in the notes to the Company’s audited consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2013 as filed with the SEC. | ||||||||||||||||||||
Payer Services Segment | ||||||||||||||||||||
The payer services segment provides payment cycle solutions that simplify the administration of healthcare related to insurance eligibility and benefit verification, claims management, payment integrity and payment distribution. Additionally, the payer services segment provides patient billing and payment and consulting services. | ||||||||||||||||||||
Provider Services Segment | ||||||||||||||||||||
The provider services segment provides revenue cycle management solutions, government program eligibility and enrollment services and revenue optimization solutions primarily to hospitals, physician practices, laboratories and other healthcare providers that simplify providers’ revenue cycle and workflow, reduce related costs and improve cash flow. | ||||||||||||||||||||
Pharmacy Services Segment | ||||||||||||||||||||
The pharmacy services segment provides electronic prescribing services, other electronic solutions and benefit administration services to pharmacies, pharmacy benefit management companies, government agencies and other payers related to prescription benefit claim filing, adjudication and management. | ||||||||||||||||||||
All Other | ||||||||||||||||||||
All Other consists of two operating segments, one of which provides revenue cycle management solutions through channel partners and one of which provides revenue cycle solutions, either directly or through channel partners, to dental practices. | ||||||||||||||||||||
Corporate and Eliminations | ||||||||||||||||||||
Inter-segment revenue and expenses primarily represent claims management and patient billing and payment services provided between segments. | ||||||||||||||||||||
Corporate and eliminations includes management, administrative and other shared corporate services functions such as information technology, legal, finance, human resources, marketing and product management, as well as eliminations to remove inter-segment revenue and expenses. These administrative and other shared services costs are excluded from the adjusted EBITDA measure for each respective operating segment. | ||||||||||||||||||||
The revenue and adjusted EBITDA for the operating segments are as follows: | ||||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||
Payer | Provider | Pharmacy | All Other | Corporate and Eliminations | Consolidated | |||||||||||||||
Revenue from external customers: | ||||||||||||||||||||
Claims management | $ | 72,649 | $ | - | $ | - | $ | - | $ | - | $ | 72,649 | ||||||||
Payment distribution services | 73,264 | - | - | - | - | 73,264 | ||||||||||||||
Patient billing and payment | ||||||||||||||||||||
services | 69,627 | - | - | - | - | 69,627 | ||||||||||||||
Revenue cycle technology | - | 32,221 | - | - | - | 32,221 | ||||||||||||||
Revenue cycle services | - | 36,106 | - | - | - | 36,106 | ||||||||||||||
Physician services | - | 9,439 | - | - | - | 9,439 | ||||||||||||||
Pharmacy | - | - | 29,966 | - | - | 29,966 | ||||||||||||||
Channel Partner | - | - | - | 10,719 | -6,078 | 4,641 | ||||||||||||||
Dental | - | - | - | 8,245 | - | 8,245 | ||||||||||||||
Inter-segment revenue | 2,383 | - | 104 | - | -2,487 | - | ||||||||||||||
Net revenue | $ | 217,923 | $ | 77,766 | $ | 30,070 | $ | 18,964 | $ | -8,565 | $ | 336,158 | ||||||||
Income (loss) before income taxes | 48,859 | 24,341 | -63,025 | 9,735 | -106,396 | $ | -86,486 | |||||||||||||
Interest expense | - | - | 2 | - | 36,541 | 36,543 | ||||||||||||||
Depreciation and amortization | 16,523 | 11,972 | 3,906 | 59 | 14,170 | 46,630 | ||||||||||||||
EBITDA | 65,382 | 36,313 | -59,117 | 9,794 | -55,685 | -3,313 | ||||||||||||||
Equity compensation | 241 | 262 | 63 | 19 | 1,205 | 1,790 | ||||||||||||||
Acquisition accounting | ||||||||||||||||||||
adjustments | 28 | 18 | 167 | - | 12 | 225 | ||||||||||||||
Acquisition-related costs | 451 | 142 | - | - | 1,521 | 2,114 | ||||||||||||||
Transaction-related costs and | ||||||||||||||||||||
advisory fees | - | - | - | - | 1,615 | 1,615 | ||||||||||||||
Strategic initiatives, duplicative | ||||||||||||||||||||
and transition costs | 59 | 335 | 626 | - | 3,695 | 4,715 | ||||||||||||||
Severance and retention costs | 103 | 172 | 4 | 26 | 746 | 1,051 | ||||||||||||||
Accretion | - | - | - | - | 4,844 | 4,844 | ||||||||||||||
Impairment of long-lived assets | - | - | 73,220 | - | 3,288 | 76,508 | ||||||||||||||
Contingent consideration | - | - | -290 | - | - | -290 | ||||||||||||||
Other | 2,524 | 69 | 803 | 6 | -2,331 | 1,071 | ||||||||||||||
EBITDA Adjustments | 3,406 | 998 | 74,593 | 51 | 14,595 | 93,643 | ||||||||||||||
Adjusted EBITDA | $ | 68,788 | 37,311 | 15,476 | 9,845 | -41,090 | $ | 90,330 | ||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||||||
Payer | Provider | Pharmacy | All Other | Corporate and Eliminations | Consolidated | |||||||||||||||
Revenue from external customers: | ||||||||||||||||||||
Claims management | $ | 70,335 | $ | - | $ | - | $ | - | $ | - | $ | 70,335 | ||||||||
Payment distribution services | 64,603 | - | - | - | - | 64,603 | ||||||||||||||
Patient billing and payment | ||||||||||||||||||||
services | 63,553 | - | - | - | - | 63,553 | ||||||||||||||
Revenue cycle technology | - | 29,701 | - | - | - | 29,701 | ||||||||||||||
Revenue cycle services | - | 30,752 | - | - | - | 30,752 | ||||||||||||||
Physician services | - | 9,031 | - | - | - | 9,031 | ||||||||||||||
Pharmacy | - | - | 25,413 | - | - | 25,413 | ||||||||||||||
Channel Partner | - | - | - | 9,801 | -6,115 | 3,686 | ||||||||||||||
Dental | - | - | - | 8,209 | - | 8,209 | ||||||||||||||
Inter-segment revenue | 1,793 | - | 85 | - | -1,878 | - | ||||||||||||||
Net revenue | $ | 200,284 | $ | 69,484 | $ | 25,498 | $ | 18,010 | $ | -7,993 | $ | 305,283 | ||||||||
Income (loss) before income taxes | 49,223 | 18,113 | 10,302 | 8,453 | -131,550 | $ | -45,459 | |||||||||||||
Interest expense | 2 | 1 | -3 | - | 37,974 | 37,974 | ||||||||||||||
Depreciation and amortization | 15,509 | 10,927 | 3,419 | 22 | 14,069 | 43,946 | ||||||||||||||
EBITDA | 64,734 | 29,041 | 13,718 | 8,475 | -79,507 | 36,461 | ||||||||||||||
Equity compensation | 309 | 296 | -6 | 276 | 898 | 1,773 | ||||||||||||||
Acquisition accounting | ||||||||||||||||||||
adjustments | 87 | 134 | -21 | 5 | 11 | 216 | ||||||||||||||
Acquisition-related costs | 451 | 53 | 5 | - | 100 | 609 | ||||||||||||||
Transaction-related costs and | ||||||||||||||||||||
advisory fees | - | - | - | - | 1,825 | 1,825 | ||||||||||||||
Strategic initiatives, duplicative | ||||||||||||||||||||
and transition costs | 40 | - | 269 | 16 | 730 | 1,055 | ||||||||||||||
Severance and retention costs | 146 | 154 | 234 | 3 | 207 | 744 | ||||||||||||||
Loss on extinguishment of debt and other related costs………...…....…. | - | - | - | - | 24,311 | 24,311 | ||||||||||||||
Accretion | - | - | - | - | 7,459 | 7,459 | ||||||||||||||
Impairment of long-lived assets | - | - | - | - | 1,893 | 1,893 | ||||||||||||||
Other | 26 | 202 | 3 | 6 | 569 | 806 | ||||||||||||||
EBITDA Adjustments | 1,059 | 839 | 484 | 306 | 38,003 | 40,691 | ||||||||||||||
Adjusted EBITDA | $ | 65,793 | $ | 29,880 | $ | 14,202 | $ | 8,781 | $ | -41,504 | $ | 77,152 | ||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||||||
Payer | Provider | Pharmacy | All Other | Corporate and Eliminations | Consolidated | |||||||||||||||
Revenue from external customers: | ||||||||||||||||||||
Claims management | $ | 142,300 | $ | - | $ | - | $ | - | $ | - | $ | 142,300 | ||||||||
Payment distribution services | 140,063 | - | - | - | - | 140,063 | ||||||||||||||
Patient billing and payment | ||||||||||||||||||||
services | 137,560 | - | - | - | - | 137,560 | ||||||||||||||
Revenue cycle technology | - | 62,912 | - | - | - | 62,912 | ||||||||||||||
Revenue cycle services | - | 66,512 | - | - | - | 66,512 | ||||||||||||||
Physician services | - | 18,578 | - | - | - | 18,578 | ||||||||||||||
Pharmacy | - | - | 61,159 | - | - | 61,159 | ||||||||||||||
Channel Partner | - | - | - | 21,507 | -11,418 | 10,089 | ||||||||||||||
Dental | - | - | - | 16,192 | - | 16,192 | ||||||||||||||
Inter-segment revenue | 4,572 | - | 181 | - | -4,753 | - | ||||||||||||||
Net revenue | $ | 424,495 | $ | 148,002 | $ | 61,340 | $ | 37,699 | $ | -16,171 | $ | 655,365 | ||||||||
Income (loss) before income taxes | 95,496 | 41,231 | -51,104 | 19,428 | -215,793 | $ | -110,742 | |||||||||||||
Interest expense | -9 | - | -1 | - | 73,116 | 73,106 | ||||||||||||||
Depreciation and amortization | 33,077 | 23,948 | 8,224 | 118 | 27,726 | 93,093 | ||||||||||||||
EBITDA | 128,564 | 65,179 | -42,881 | 19,546 | -114,951 | 55,457 | ||||||||||||||
Equity compensation | 515 | 495 | 122 | 45 | 2,505 | 3,682 | ||||||||||||||
Acquisition accounting | ||||||||||||||||||||
adjustments | 67 | 50 | 394 | 2 | -36 | 477 | ||||||||||||||
Acquisition-related costs | 908 | 149 | 18 | 1 | 2,445 | 3,521 | ||||||||||||||
Transaction-related costs and | ||||||||||||||||||||
advisory fees | - | - | - | - | 3,115 | 3,115 | ||||||||||||||
Strategic initiatives, duplicative | ||||||||||||||||||||
and transition costs | 59 | 335 | 717 | - | 8,697 | 9,808 | ||||||||||||||
Severance and retention costs | 550 | 488 | 5 | 30 | 2,906 | 3,979 | ||||||||||||||
Accretion | - | - | - | - | 4,768 | 4,768 | ||||||||||||||
Impairment of long-lived assets | - | - | 73,220 | - | 6,356 | 79,576 | ||||||||||||||
Contingent consideration | - | - | 1,670 | - | - | 1,670 | ||||||||||||||
Other | 2,613 | 297 | -842 | 6 | 508 | 2,582 | ||||||||||||||
EBITDA Adjustments | 4,712 | 1,814 | 75,304 | 84 | 31,264 | 113,178 | ||||||||||||||
Adjusted EBITDA | $ | 133,276 | $ | 66,993 | $ | 32,423 | $ | 19,630 | $ | -83,687 | $ | 168,635 | ||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||
Payer | Provider | Pharmacy | All Other | Corporate and Eliminations | Consolidated | |||||||||||||||
Revenue from external customers: | ||||||||||||||||||||
Claims management | $ | 137,640 | $ | - | $ | - | $ | - | $ | - | $ | 137,640 | ||||||||
Payment distribution services | 130,232 | - | - | - | - | 130,232 | ||||||||||||||
Patient billing and payment | ||||||||||||||||||||
services | 126,485 | - | - | - | - | 126,485 | ||||||||||||||
Revenue cycle technology | - | 58,099 | - | - | - | 58,099 | ||||||||||||||
Revenue cycle services | - | 61,101 | - | - | - | 61,101 | ||||||||||||||
Physician services | - | 17,793 | - | - | - | 17,793 | ||||||||||||||
Pharmacy | - | - | 49,967 | - | - | 49,967 | ||||||||||||||
Channel Partner | - | - | - | 19,459 | -12,545 | 6,914 | ||||||||||||||
Dental | - | - | - | 16,411 | - | 16,411 | ||||||||||||||
Inter-segment revenue | 2,774 | - | 180 | - | -2,954 | - | ||||||||||||||
Net revenue | $ | 397,131 | $ | 136,993 | $ | 50,147 | $ | 35,870 | $ | -15,499 | $ | 604,642 | ||||||||
Income (loss) before income taxes | 92,911 | 34,935 | 21,015 | 16,530 | -233,658 | $ | -68,267 | |||||||||||||
Interest expense | 2 | 32 | -5 | - | 79,360 | 79,389 | ||||||||||||||
Depreciation and amortization | 32,022 | 24,029 | 7,264 | 45 | 27,402 | 90,762 | ||||||||||||||
EBITDA | 124,935 | 58,996 | 28,274 | 16,575 | -126,896 | 101,884 | ||||||||||||||
Equity compensation | 580 | 591 | 78 | 552 | 1,746 | 3,547 | ||||||||||||||
Acquisition accounting | ||||||||||||||||||||
adjustments | 171 | 326 | -41 | 11 | 23 | 490 | ||||||||||||||
Acquisition-related costs | 937 | 62 | 6 | 2 | 253 | 1,260 | ||||||||||||||
Transaction-related costs and | ||||||||||||||||||||
advisory fees | - | - | - | - | 3,325 | 3,325 | ||||||||||||||
Strategic initiatives, duplicative | ||||||||||||||||||||
and transition costs | 130 | - | 558 | 69 | 1,711 | 2,468 | ||||||||||||||
Severance and retention costs | 350 | 214 | 234 | 263 | 568 | 1,629 | ||||||||||||||
Loss on extinguishment of debt and other related costs…………………… | - | - | - | - | 24,311 | 24,311 | ||||||||||||||
Accretion | - | - | - | - | 11,599 | 11,599 | ||||||||||||||
Impairment of long-lived assets | - | - | - | - | 1,862 | 1,862 | ||||||||||||||
Other | 117 | 408 | 6 | 6 | 283 | 820 | ||||||||||||||
EBITDA Adjustments | 2,285 | 1,601 | 841 | 903 | 45,681 | 51,311 | ||||||||||||||
Adjusted EBITDA | $ | 127,220 | $ | 60,597 | $ | 29,115 | $ | 17,478 | $ | -81,215 | $ | 153,195 |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||
13. Accumulated Other Comprehensive Income (Loss) | |||||||||
The following is a summary of the accumulated other comprehensive income (loss) balances, net of taxes, as of and for the six months ended June 30, 2014. | |||||||||
Foreign | Accumulated | ||||||||
Currency | Other | ||||||||
Translation | Cash Flow | Comprehensive | |||||||
Adjustment | Hedge | Income (Loss) | |||||||
Balance at January 1, 2014 | $ | -264 | $ | -1,079 | $ | -1,343 | |||
Change associated with foreign currency translation | 27 | - | 27 | ||||||
Change associated with current period hedging | - | -2,142 | -2,142 | ||||||
Reclassification into earnings | - | 1,283 | 1,283 | ||||||
Balance at June 30, 2014 | $ | -237 | $ | -1,938 | $ | -2,175 |
Supplemental_Condensed_Consoli
Supplemental Condensed Consolidating Financial Information | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Supplemental Condensed Consolidating Financial Information | ' | |||||||||||||||
14. Supplemental Condensed Consolidating Financial Information | ||||||||||||||||
In lieu of providing separate annual and interim financial statements for each guarantor of the Senior Notes, Regulation S-X provides companies, if certain criteria are satisfied, with the option to instead provide condensed consolidating financial information for its issuers, guarantors and non-guarantors. In the case of the Company, the applicable criteria include the following: (i) the Senior Notes are fully and unconditionally guaranteed on a joint and several basis, (ii) each of the guarantors of the Senior Notes is a direct or indirect wholly-owned subsidiary of the Company and (iii) any non-guarantors are considered minor as that term is defined in Regulation S-X. Because each of these criteria has been satisfied by the Company, condensed consolidating balance sheets as of June 30, 2014 and December 31, 2013, condensed consolidating statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2014 and 2013, respectively, and condensed consolidating cash flows for the six months ended June 30, 2014 and 2013, respectively, for the Company, segregating the issuer, the subsidiary guarantors and consolidating adjustments, are reflected below. Prior period amounts have been reclassified to conform to the current year presentation. | ||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||
As of June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
ASSETS | ||||||||||||||||
Current assets: | ||||||||||||||||
Cash and cash equivalents | $ | 890 | $ | 70,287 | $ | - | $ | 71,177 | ||||||||
Accounts receivable, net of allowance for | ||||||||||||||||
doubtful accounts | - | 239,895 | - | 239,895 | ||||||||||||
Deferred income tax assets | - | 17,809 | - | 17,809 | ||||||||||||
Prepaid expenses and other current assets | 5,677 | 27,797 | - | 33,474 | ||||||||||||
Total current assets | 6,567 | 355,788 | - | 362,355 | ||||||||||||
Property and equipment, net | 8 | 242,180 | - | 242,188 | ||||||||||||
Due from affiliates | - | 126,741 | -126,741 | - | ||||||||||||
Investment in consolidated subsidiaries | 1,706,862 | - | -1,706,862 | - | ||||||||||||
Goodwill | - | 1,508,593 | - | 1,508,593 | ||||||||||||
Intangible assets, net | 138,000 | 1,375,894 | - | 1,513,894 | ||||||||||||
Other assets, net | 131,059 | 17,771 | -127,985 | 20,845 | ||||||||||||
Total assets | $ | 1,982,496 | $ | 3,626,967 | $ | -1,961,588 | $ | 3,647,875 | ||||||||
LIABILITIES AND EQUITY | ||||||||||||||||
Current liabilities: | ||||||||||||||||
Accounts payable | $ | - | $ | 9,245 | $ | - | $ | 9,245 | ||||||||
Accrued expenses | 7,808 | 118,879 | - | 126,687 | ||||||||||||
Deferred revenues | - | 10,001 | - | 10,001 | ||||||||||||
Current portion of long-term debt | 5,550 | 18,015 | - | 23,565 | ||||||||||||
Total current liabilities | 13,358 | 156,140 | - | 169,498 | ||||||||||||
Due to affiliates | 126,741 | - | -126,741 | - | ||||||||||||
Long-term debt, excluding current portion | 776,466 | 1,224,082 | - | 2,000,548 | ||||||||||||
Deferred income tax liabilities | - | 527,114 | -127,985 | 399,129 | ||||||||||||
Tax receivable agreement obligations to related parties | 155,264 | - | - | 155,264 | ||||||||||||
Other long-term liabilities | 564 | 12,769 | - | 13,333 | ||||||||||||
Commitments and contingencies | ||||||||||||||||
Equity | 910,103 | 1,706,862 | -1,706,862 | 910,103 | ||||||||||||
Total liabilities and equity | $ | 1,982,496 | $ | 3,626,967 | $ | -1,961,588 | $ | 3,647,875 | ||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
ASSETS | ||||||||||||||||
Current assets: | ||||||||||||||||
Cash and cash equivalents | $ | 2,794 | $ | 73,744 | $ | - | $ | 76,538 | ||||||||
Accounts receivable, net of allowance for | ||||||||||||||||
doubtful accounts | - | 214,247 | - | 214,247 | ||||||||||||
Deferred income tax assets | - | 6,317 | - | 6,317 | ||||||||||||
Prepaid expenses and other current assets | 3,441 | 23,578 | - | 27,019 | ||||||||||||
Total current assets | 6,235 | 317,886 | - | 324,121 | ||||||||||||
Property and equipment, net | 10 | 269,460 | - | 269,470 | ||||||||||||
Due from affiliates | - | 69,142 | -69,142 | - | ||||||||||||
Investment in subsidiaries | 1,764,213 | - | -1,764,213 | - | ||||||||||||
Goodwill | - | 1,502,434 | - | 1,502,434 | ||||||||||||
Intangible assets, net | 142,500 | 1,490,188 | - | 1,632,688 | ||||||||||||
Other assets, net | 64,536 | 14,949 | -60,316 | 19,169 | ||||||||||||
Total assets | $ | 1,977,494 | $ | 3,664,059 | $ | -1,893,671 | $ | 3,747,882 | ||||||||
LIABILITIES AND EQUITY | ||||||||||||||||
Current liabilities: | ||||||||||||||||
Accounts payable | $ | - | $ | 8,367 | $ | - | $ | 8,367 | ||||||||
Accrued expenses | 8,205 | 122,944 | - | 131,149 | ||||||||||||
Deferred revenues | - | 10,881 | - | 10,881 | ||||||||||||
Current portion of long-term debt | 5,775 | 25,555 | - | 31,330 | ||||||||||||
Total current liabilities | 13,980 | 167,747 | - | 181,727 | ||||||||||||
Due to affiliates | 69,142 | - | -69,142 | - | ||||||||||||
Long-term debt, excluding current portion | 775,330 | 1,223,696 | - | 1,999,026 | ||||||||||||
Deferred income tax liabilities | - | 496,579 | -60,316 | 436,263 | ||||||||||||
Tax receivable agreement obligations to related parties | 150,496 | - | - | 150,496 | ||||||||||||
Other long-term liabilities | - | 11,824 | - | 11,824 | ||||||||||||
Commitments and contingencies | - | - | - | - | ||||||||||||
Total equity | 968,546 | 1,764,213 | -1,764,213 | 968,546 | ||||||||||||
Total liabilities and equity | $ | 1,977,494 | $ | 3,664,059 | $ | -1,893,671 | $ | 3,747,882 | ||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Revenue | $ | - | $ | 336,158 | $ | - | $ | 336,158 | ||||||||
Costs and expenses: | ||||||||||||||||
Cost of operations (exclusive of depreciation | ||||||||||||||||
and amortization below) | - | 201,398 | - | 201,398 | ||||||||||||
Development and engineering | - | 7,380 | - | 7,380 | ||||||||||||
Sales, marketing, general and administrative | 5,472 | 48,130 | - | 53,602 | ||||||||||||
Depreciation and amortization | 2,251 | 44,379 | - | 46,630 | ||||||||||||
Accretion | 4,844 | - | - | 4,844 | ||||||||||||
Impairment of long-lived assets | - | 76,508 | - | 76,508 | ||||||||||||
Operating income (loss) | -12,567 | -41,637 | - | -54,204 | ||||||||||||
Equity in earnings of consolidated | ||||||||||||||||
subsidiaries | 39,723 | - | -39,723 | - | ||||||||||||
Interest expense, net | 23,417 | 13,126 | - | 36,543 | ||||||||||||
Contingent consideration | - | -290 | - | -290 | ||||||||||||
Other | -114 | -3,857 | - | -3,971 | ||||||||||||
Income (loss) before income tax provision (benefit) | -75,593 | -50,616 | 39,723 | -86,486 | ||||||||||||
Income tax provision (benefit) | -16,066 | -10,893 | - | -26,959 | ||||||||||||
Net income (loss) | $ | -59,527 | $ | -39,723 | $ | 39,723 | $ | -59,527 | ||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Revenue | $ | - | $ | 305,283 | $ | - | $ | 305,283 | ||||||||
Costs and expenses: | ||||||||||||||||
Cost of operations (exclusive of depreciation | ||||||||||||||||
and amortization below) | - | 188,026 | - | 188,026 | ||||||||||||
Development and engineering | - | 7,626 | - | 7,626 | ||||||||||||
Sales, marketing, general and administrative | 2,732 | 37,926 | - | 40,658 | ||||||||||||
Depreciation and amortization | 2,251 | 41,695 | - | 43,946 | ||||||||||||
Accretion | 7,459 | - | - | 7,459 | ||||||||||||
Impairment of long-lived assets | - | 1,893 | - | 1,893 | ||||||||||||
Operating income (loss) | -12,442 | 28,117 | - | 15,675 | ||||||||||||
Equity in earnings of consolidated | ||||||||||||||||
subsidiaries | 5,525 | - | -5,525 | - | ||||||||||||
Interest expense, net | 23,489 | 14,485 | - | 37,974 | ||||||||||||
Loss on extinguishment of debt | 485 | 22,675 | - | 23,160 | ||||||||||||
Income (loss) before income tax provision (benefit) | -41,941 | -9,043 | 5,525 | -45,459 | ||||||||||||
Income tax provision (benefit) | -13,673 | -3,518 | - | -17,191 | ||||||||||||
Net income (loss) | $ | -28,268 | $ | -5,525 | $ | 5,525 | $ | -28,268 | ||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Revenue | $ | - | $ | 655,365 | $ | - | $ | 655,365 | ||||||||
Costs and expenses: | ||||||||||||||||
Cost of operations (exclusive of depreciation | ||||||||||||||||
and amortization below) | - | 395,538 | - | 395,538 | ||||||||||||
Development and engineering | - | 16,616 | - | 16,616 | ||||||||||||
Sales, marketing, general and administrative | 12,488 | 93,223 | - | 105,711 | ||||||||||||
Depreciation and amortization | 4,502 | 88,591 | - | 93,093 | ||||||||||||
Accretion | 4,768 | - | - | 4,768 | ||||||||||||
Impairment of long-lived assets | - | 79,576 | - | 79,576 | ||||||||||||
Operating income (loss) | -21,758 | -18,179 | - | -39,937 | ||||||||||||
Equity in earnings of consolidated | ||||||||||||||||
subsidiaries | 61,129 | - | -61,129 | - | ||||||||||||
Interest expense, net | 46,807 | 26,299 | - | 73,106 | ||||||||||||
Contingent consideration | - | 1,670 | - | 1,670 | ||||||||||||
Other | -114 | -3,857 | - | -3,971 | ||||||||||||
Income (loss) before income tax provision (benefit) | -129,580 | -42,291 | 61,129 | -110,742 | ||||||||||||
Income tax provision (benefit) | -67,064 | 18,838 | - | -48,226 | ||||||||||||
Net income (loss) | $ | -62,516 | $ | -61,129 | $ | 61,129 | $ | -62,516 | ||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Revenue | $ | - | $ | 604,642 | $ | - | $ | 604,642 | ||||||||
Costs and expenses: | ||||||||||||||||
Cost of operations (exclusive of depreciation | ||||||||||||||||
and amortization below) | - | 371,449 | - | 371,449 | ||||||||||||
Development and engineering | - | 15,324 | - | 15,324 | ||||||||||||
Sales, marketing, general and administrative | 5,026 | 74,338 | - | 79,364 | ||||||||||||
Depreciation and amortization | 4,502 | 86,260 | - | 90,762 | ||||||||||||
Accretion | 11,599 | - | - | 11,599 | ||||||||||||
Impairment of long-lived assets | - | 1,862 | - | 1,862 | ||||||||||||
Operating income (loss) | -21,127 | 55,409 | - | 34,282 | ||||||||||||
Equity in earnings of consolidated | ||||||||||||||||
subsidiaries | -2,451 | - | 2,451 | - | ||||||||||||
Interest expense, net | 47,041 | 32,348 | - | 79,389 | ||||||||||||
Loss on extinguishment of debt | 485 | 22,675 | - | 23,160 | ||||||||||||
Income (loss) before income tax provision (benefit) | -66,202 | 386 | -2,451 | -68,267 | ||||||||||||
Income tax provision (benefit) | -24,482 | -2,065 | - | -26,547 | ||||||||||||
Net income (loss) | $ | -41,720 | $ | 2,451 | $ | -2,451 | $ | -41,720 | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Net income (loss) | $ | -59,527 | $ | -39,723 | $ | 39,723 | $ | -59,527 | ||||||||
Other comprehensive income (loss): | ||||||||||||||||
Changes in fair value of interest rate swap, | ||||||||||||||||
net of taxes | -735 | - | - | -735 | ||||||||||||
Foreign currency translation adjustment | - | 100 | - | 100 | ||||||||||||
Equity in other comprehensive earnings | 100 | - | -100 | - | ||||||||||||
Other comprehensive income (loss) | -635 | 100 | -100 | -635 | ||||||||||||
Total comprehensive income (loss) | $ | -60,162 | $ | -39,623 | $ | 39,623 | $ | -60,162 | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Net income (loss) | $ | -28,268 | $ | -5,525 | $ | 5,525 | $ | -28,268 | ||||||||
Other comprehensive income (loss): | ||||||||||||||||
Changes in fair value of interest rate swap, net of taxes | 3,147 | - | - | 3,147 | ||||||||||||
Foreign currency translation adjustment | - | -64 | - | -64 | ||||||||||||
Equity in other comprehensive earnings | -64 | - | 64 | - | ||||||||||||
Other comprehensive income (loss) | 3,083 | -64 | 64 | 3,083 | ||||||||||||
Total comprehensive income (loss) | $ | -25,185 | $ | -5,589 | $ | 5,589 | $ | -25,185 | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Net income (loss) | $ | -62,516 | $ | -61,129 | $ | 61,129 | $ | -62,516 | ||||||||
Other comprehensive income (loss): | ||||||||||||||||
Changes in fair value of interest rate swap, | ||||||||||||||||
net of taxes | -859 | - | - | -859 | ||||||||||||
Foreign currency translation adjustment | - | 27 | - | 27 | ||||||||||||
Equity in other comprehensive earnings | 27 | - | -27 | - | ||||||||||||
Other comprehensive income (loss) | -832 | 27 | -27 | -832 | ||||||||||||
Total comprehensive income (loss) | $ | -63,348 | $ | -61,102 | $ | 61,102 | $ | -63,348 | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Net income (loss) | $ | -41,720 | $ | 2,451 | $ | -2,451 | $ | -41,720 | ||||||||
Other comprehensive income (loss): | ||||||||||||||||
Changes in fair value of interest rate swap, | ||||||||||||||||
net of taxes | 3,575 | - | - | 3,575 | ||||||||||||
Foreign currency translation adjustment | - | -99 | - | -99 | ||||||||||||
Equity in other comprehensive earnings | -99 | - | 99 | - | ||||||||||||
Other comprehensive income (loss) | 3,476 | -99 | 99 | 3,476 | ||||||||||||
Total comprehensive income (loss) | $ | -38,244 | $ | 2,352 | $ | -2,352 | $ | -38,244 | ||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Operating activities | ||||||||||||||||
Net Income (loss) | $ | -62,516 | $ | -61,129 | $ | 61,129 | $ | -62,516 | ||||||||
Adjustments to reconcile net income (loss) to net cash | ||||||||||||||||
provided by operating activities: | ||||||||||||||||
Depreciation and amortization | 4,502 | 88,591 | - | 93,093 | ||||||||||||
Accretion | 4,768 | - | - | 4,768 | ||||||||||||
Equity compensation | 182 | 3,500 | - | 3,682 | ||||||||||||
Deferred income tax expense (benefit) | -67,669 | 18,974 | - | -48,695 | ||||||||||||
Amortization of debt discount and issuance costs | 1,319 | 2,524 | - | 3,843 | ||||||||||||
Contingent consideration | - | 1,670 | - | 1,670 | ||||||||||||
Impairment of long lived assets | - | 79,576 | - | 79,576 | ||||||||||||
Equity in earnings of consolidated subsidiaries | 61,129 | - | -61,129 | - | ||||||||||||
Other | - | -2,029 | - | -2,029 | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||
Accounts receivable | - | -25,648 | - | -25,648 | ||||||||||||
Prepaid expenses and other | -1,496 | -5,755 | - | -7,251 | ||||||||||||
Accounts payable | - | 1,237 | - | 1,237 | ||||||||||||
Accrued expenses, deferred revenue, and other liabilities | -541 | -7,356 | - | -7,897 | ||||||||||||
Due to/from affiliates | 57,599 | -57,599 | - | - | ||||||||||||
Net cash provided (used in) by operating activities | -2,723 | 36,556 | - | 33,833 | ||||||||||||
Investing activities | ||||||||||||||||
Purchases of property and equipment | - | -25,952 | - | -25,952 | ||||||||||||
Payments for acquisitions, net of cash acquired | - | -779 | - | -779 | ||||||||||||
Proceeds from sale of cost method investment | 36 | - | - | 36 | ||||||||||||
Investment in subsidiary | -332 | - | 332 | - | ||||||||||||
Net cash provided by (used in) investing activities | -296 | -26,731 | 332 | -26,695 | ||||||||||||
Financing activities | ||||||||||||||||
Distributions from (to) Emdeon Inc. net | - | 332 | -332 | - | ||||||||||||
Debt principal payments | -162 | -7,507 | - | -7,669 | ||||||||||||
Payment of debt assumed from acquisition | - | -1,877 | - | -1,877 | ||||||||||||
Repayment of deferred financing arrangements | - | -4,176 | - | -4,176 | ||||||||||||
Repurchase of Parent common stock | -815 | -54 | - | -869 | ||||||||||||
Capital contribution from Parent | 2,092 | - | - | 2,092 | ||||||||||||
Net cash provided by (used in) financing activities | 1,115 | -13,282 | -332 | -12,499 | ||||||||||||
Net decrease in cash and cash equivalents | -1,904 | -3,457 | - | -5,361 | ||||||||||||
Cash and cash equivalents at beginning of period | 2,794 | 73,744 | - | 76,538 | ||||||||||||
Cash and cash equivalents at end of period | $ | 890 | $ | 70,287 | $ | - | $ | 71,177 | ||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Operating activities | ||||||||||||||||
Net income (loss) | $ | -41,720 | $ | 2,451 | $ | -2,451 | $ | -41,720 | ||||||||
Adjustments to reconcile net income (loss) to net cash | ||||||||||||||||
provided by (used in) operating activities: | ||||||||||||||||
Depreciation and amortization | 4,502 | 86,260 | - | 90,762 | ||||||||||||
Accretion expense | 11,599 | - | - | 11,599 | ||||||||||||
Equity compensation expense | 88 | 3,459 | - | 3,547 | ||||||||||||
Deferred income tax benefit | -24,482 | -2,969 | - | -27,451 | ||||||||||||
Amortization of debt discount and issuance costs | 1,243 | 3,474 | - | 4,717 | ||||||||||||
Loss on extinguishment of debt | 478 | 22,350 | - | 22,828 | ||||||||||||
Impairment of long lived assets | - | 1,862 | - | 1,862 | ||||||||||||
Equity in earnings of consolidated subsidiaries | -2,451 | - | 2,451 | - | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||
Accounts receivable | - | -10,208 | - | -10,208 | ||||||||||||
Prepaid expenses and other | -1,022 | 325 | - | -697 | ||||||||||||
Accounts payable | - | 5,498 | - | 5,498 | ||||||||||||
Accrued expenses, deferred revenue, and other liabilities | 31,499 | -7,960 | - | 23,539 | ||||||||||||
Tax receivable agreement obligations to related parties | -104 | - | - | -104 | ||||||||||||
Due to/from affiliates | 1,375 | -1,375 | - | - | ||||||||||||
Net cash provided by (used in) operating activities | -18,995 | 103,167 | - | 84,172 | ||||||||||||
Investing activities | ||||||||||||||||
Purchases of property and equipment | - | -33,246 | - | -33,246 | ||||||||||||
Payments for acquisitions, net of cash acquired | - | -18,291 | - | -18,291 | ||||||||||||
Investment in subsidiaries, net | 50,281 | - | -50,281 | - | ||||||||||||
Net cash provided by (used in) investing activities | 50,281 | -51,537 | -50,281 | -51,537 | ||||||||||||
Financing activities | ||||||||||||||||
Distributions from (to) Emdeon Inc., net | - | -50,281 | 50,281 | - | ||||||||||||
Debt principal payments | -142 | -6,330 | - | -6,472 | ||||||||||||
Payment of loan costs | - | -2,178 | - | -2,178 | ||||||||||||
Repayment of deferred financing arrangements | - | -1,844 | - | -1,844 | ||||||||||||
Repurchase of Parent common stock | - | -250 | - | -250 | ||||||||||||
Other | - | -735 | - | -735 | ||||||||||||
Net cash provided by (used in) financing activities | -142 | -61,618 | 50,281 | -11,479 | ||||||||||||
Net increase (decrease) in cash and cash equivalents | 31,144 | -9,988 | - | 21,156 | ||||||||||||
Cash and cash equivalents at beginning of period | 754 | 31,009 | - | 31,763 | ||||||||||||
Cash and cash equivalents at end of period | $ | 31,898 | $ | 21,021 | $ | - | $ | 52,919 | ||||||||
Subsequent_Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2014 | |
Text Block [Abstract] | ' |
Subsequent Events [Text Block] | ' |
15. Subsequent Events | |
On July 21, 2014, the Company acquired all of the equity interests of Capario, Inc. (“Capario”), a technology-enabled provider of revenue cycle management solutions. The Company has preliminarily valued the consideration transferred at $89,762, which consisted of cash and an estimated working capital settlement. Additionally, concurrent with the closing of the acquisition, the Company paid $21,474 of Capario’s debt and $6,123 of transaction related expenses incurred by Capario in connection with the acquisition. The acquisition was financed with cash on hand and borrowings of approximately $65,000 under the Revolving Facility. | |
Due to the timing of this acquisition in relation to the date of these financial statements, the Company has omitted disclosures related to the allocation of the consideration transferred, transactions recognized separate from the business combination transaction, the allocation of goodwill by reportable segment, and acquisition costs incurred in connection with this acquisition. | |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Principles of Consolidation | ' |
Principles of Consolidation | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”) Guidelines, Rules and Regulations (“Regulation S-X”) and, in the opinion of management, reflect all normal recurring adjustments necessary for a fair presentation of results for the unaudited interim periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. The results of operations for the interim period are not necessarily indicative of the results to be obtained for the full fiscal year. All material intercompany accounts and transactions have been eliminated in the unaudited condensed consolidated financial statements. | |
Reclassifications | ' |
Reclassifications | |
Certain reclassifications have been made to the prior period financial statements to conform to the current period presentation. The Company changed the classification of rebate payments to its channel partners from cost of operations to a reduction of revenue to the extent that such rebate payments for any given channel partner were less than or equal to revenue otherwise earned from the respective channel partner. To conform to the current period presentation, rebate payments to channel partners resulted in a reduction of revenue of $6,202 and $12,545 for the three and six months ended June 30, 2013, respectively. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, which changes the requirements for reporting discontinued operations. Following adoption of this update, discontinued operations generally will be reported for the disposal by sale or otherwise of a component or a group of components that represents a strategic shift that has or will have a major effect on an entity’s operations and financial results. This update is effective for fiscal years and interim periods beginning in those years after December 15, 2014, with early adoption permitted. The Company is currently assessing whether to adopt this update prior to the required effective date. | |
In May 2014, the FASB issued ASU No. 2014-09, which replaces most prior general and industry specific revenue recognition guidance with a principles-based comprehensive revenue recognition framework. Under this revised framework, a company will recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. This update is effective for fiscal years and interim periods beginning in those years after December 15, 2016. Early adoption is not permitted. Upon adoption, a company may elect to either retrospectively restate each prior reporting period or reflect the cumulative effect of initially applying the update with an adjustment to retained earnings. The Company is currently assessing the potential effects this update may have on its consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-12, which clarifies, in the context of share-based payment awards, that a performance target that affects vesting and could be achieved after the requisite service period has been rendered should be treated as a performance condition. Prior to this update, because there was no explicit guidance, there was diversity in practice among companies. This update is effective for fiscal years and interim periods within those years beginning after December 15, 2015, with early adoption permitted. The Company does not expect the adoption of this update to have a material effect on its consolidated financial statements. | |
Accounting Estimates | ' |
Accounting Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience, current business factors and various other assumptions that the Company believes are necessary to consider in order to form a basis for making judgments about the carrying values of assets and liabilities, the recorded amounts of revenue and expenses and disclosure of contingent assets and liabilities. The Company is subject to uncertainties such as the impact of future events, economic, environmental and political factors and changes in the Company's business environment; therefore, actual results could differ materially from these estimates. Accordingly, the accounting estimates used in the preparation of the Company's financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company's operating environment changes. Changes in estimates are made when circumstances warrant. Such changes in estimates and refinements in estimation methodologies are reflected in the reported results of operations; and if material, the effects of changes in estimates are disclosed in the notes to the consolidated financial statements. Estimates and assumptions by management affect: the allowance for doubtful accounts; the fair value assigned to assets acquired and liabilities assumed in business combinations; tax receivable agreement obligations; the fair value of interest rate swap obligations; contingent consideration; loss accruals; the carrying value of long-lived assets (including goodwill and intangible assets); the amortization period of long-lived assets (excluding goodwill); the carrying value, capitalization and amortization of software development costs; the provision and benefit for income taxes and related deferred tax accounts; certain accrued expenses; revenue recognition; contingencies; and the value attributed to equity awards. |
Business_Combinations_Tables
Business Combinations (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Summary of Information Related To Acquisitions | ' | |||||||
Vieosoft | Goold | |||||||
Total Consideration Fair Value at Acquisition Date: | ||||||||
Cash paid at closing | $ | 800 | $ | 19,391 | ||||
Contingent consideration | 6,015 | 5,553 | ||||||
Other | - | -5 | ||||||
$ | 6,815 | $ | 24,939 | |||||
Allocation of the Consideration Transferred: | ||||||||
Cash | $ | 21 | $ | 1,101 | ||||
Accounts receivable | - | 3,435 | ||||||
Prepaid expenses and other current assets | - | 647 | ||||||
Property and equipment | - | 7,695 | ||||||
Identifiable intangible assets: | ||||||||
Noncompetition agreements | 1,320 | 280 | ||||||
Customer relationships | - | 5,160 | ||||||
Backlog and other | 2,060 | 460 | ||||||
Goodwill | 6,159 | 14,300 | ||||||
Accounts payable | - | -541 | ||||||
Accrued expenses | -194 | -2,076 | ||||||
Deferred revenues | - | -101 | ||||||
Current maturities of long-term debt | -1,877 | -218 | ||||||
Deferred income tax liabilities | -674 | -5,203 | ||||||
Total consideration transferred | $ | 6,815 | $ | 24,939 | ||||
Acquisition costs in sales, marketing, general and administrative expense: | ||||||||
For the three months ended June 30, 2014 | $ | - | $ | - | ||||
For the three months ended June 30, 2013 | $ | - | $ | 254 | ||||
For the six months ended June 30, 2014 | $ | 111 | $ | - | ||||
For the six months ended June 30, 2013 | $ | - | $ | 258 | ||||
Vieosoft | Goold | |||||||
Other Information: | ||||||||
Gross contractual accounts receivable | $ | - | $ | 3,435 | ||||
Amount not expected to be collected | $ | - | $ | - | ||||
Goodwill expected to be deductible for tax purposes | $ | - | $ | - | ||||
Contingent Consideration Information: | ||||||||
Contingent consideration range | $0-$43,104 | $0-15,000 | ||||||
Measurement period | February 12, 2014 to December 31, 2017 | July 1, 2013 to September 30, 2014 | ||||||
Basis of measurement | Milestone achievement, revenue performance | Award of contracts with annual revenue exceeding targeted amount | ||||||
Type of measurement | Level 3 | Level 3 | ||||||
Key assumptions at the acquisition date: | ||||||||
Probability of achieving milestone objectives | 90% | N/A | ||||||
Probability of achieving minimum gross profit margin | 5% for 2015 -90% for 2017 | N/A | ||||||
Probability of winning new contracts | N/A | 10%-50% | ||||||
Probability of retaining contracts that expire during the measurement period | N/A | 90% | ||||||
Range of baseline revenue retention for existing customers | N/A | 75%-125% | ||||||
Expected payment date(s) | 2015-2017 | 12/15/14 | ||||||
Discount rate(s) | 5.2% to 53.2% | 15.40% | ||||||
Increase (decrease) to net loss: | ||||||||
For the three months ended June 30, 2014 | $ | 431 | $ | -721 | ||||
For the six months ended June 30, 2014 | $ | 658 | $ | 1,012 |
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Intangible Assets Subject to Amortization | ' | ||||||||||||||||
Weighted | Gross | ||||||||||||||||
Average | Carrying | Accumulated | |||||||||||||||
Remaining Life | Amount | Amortization | Net | ||||||||||||||
Customer relationships | 15.9 | $ | 1,563,722 | $ | -211,671 | $ | 1,352,051 | ||||||||||
Trade names | 17 | 156,530 | -21,183 | 135,347 | |||||||||||||
Non-compete agreements | 2.3 | 14,400 | -7,232 | 7,168 | |||||||||||||
Data sublicense agreement | 3.3 | 31,000 | -13,965 | 17,035 | |||||||||||||
Other | 5.9 | 2,523 | -230 | 2,293 | |||||||||||||
Total | $ | 1,768,175 | $ | -254,281 | $ | 1,513,894 | |||||||||||
Aggregate Future Amortization Expense for Intangible Assets | ' | ||||||||||||||||
2014 (remainder) | $ | 50,982 | |||||||||||||||
2015 | 101,557 | ||||||||||||||||
2016 | 100,970 | ||||||||||||||||
2017 | 97,695 | ||||||||||||||||
2018 | 93,671 | ||||||||||||||||
Thereafter | 1,069,019 | ||||||||||||||||
$ | 1,513,894 | ||||||||||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Schedule of Long-Term Debt | ' | ||||||||
Long-term debt as of June 30, 2014 and December 31, 2013, consisted of the following: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Senior Credit Facilities | |||||||||
$1,301 million Senior Secured Term Loan facility, due November 2, 2018, net of | |||||||||
unamortized discount of $14,295 and $15,826 at June 30, 2014 and | |||||||||
December 31, 2013, respectively (effective interest rate of 4.21%) | $ | 1,256,307 | $ | 1,262,445 | |||||
$125 million Senior Secured Revolving Credit facility, expiring on November | |||||||||
2, 2016 and bearing interest at a variable base rate plus a spread rate | - | - | |||||||
Senior Notes | |||||||||
$375 million 11% Senior Notes due December 31, 2019, net of unamortized | |||||||||
discount of $7,205 and $7,664 at June 30, 2014 and December 31, 2013, | |||||||||
respectively (effective interest rate of 11.53%) | 367,795 | 367,336 | |||||||
$375 million 11.25% Senior Notes due December 31, 2020, net of unamortized | |||||||||
discount of $9,106 and $9,560 at June 30, 2014 and December 31, 2013, | |||||||||
respectively (effective interest rate of 11.86%) | 365,894 | 365,440 | |||||||
Obligation under data sublicense agreement | 22,543 | 22,543 | |||||||
Other | 11,574 | 12,592 | |||||||
Less current portion | -23,565 | -31,330 | |||||||
Long-term debt | $ | 2,000,548 | $ | 1,999,026 |
Interest_Rate_Swap_Tables
Interest Rate Swap (Tables) | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Fair Value of Derivative Instrument | ' | |||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||
Asset (Liability) Derivatives | ||||||||||||||
June 30, | December 31, | |||||||||||||
Balance Sheet Location | 2014 | 2013 | ||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||
Interest rate swaps | Other assets | $ | - | $ | 899 | |||||||||
Interest rate swaps | Accrued expenses | -2,575 | -2,575 | |||||||||||
Interest rate swaps | Other long-term liabilities | -564 | - | |||||||||||
$ | -3,139 | $ | -1,676 | |||||||||||
Effect of Derivative Instrument on the Accompanying Consolidated Statements of Operations | ' | |||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||
June 30, | June 30, | June 30, | June 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Derivatives in Cash Flow Hedging Relationships | ||||||||||||||
Gain/ (loss) related to effective portion of derivative recognized | ||||||||||||||
in other comprehensive loss | $ | -1,897 | $ | 4,358 | $ | -2,745 | $ | 4,402 | ||||||
Gain/ (loss) related to effective portion of derivative reclassified | ||||||||||||||
from accumulated other comprehensive loss to interest expense | $ | -645 | $ | -645 | $ | -1,283 | $ | -1,283 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Fair Value of Financial Instruments Measured on a Recurring Basis | ' | |||||||||||||||
Significant | ||||||||||||||||
Quoted in | Significant Other | Unobservable | ||||||||||||||
Balance at | Markets | Observable Inputs | Inputs | |||||||||||||
Description | 30-Jun-14 | Identical (Level 1) | (Level 2) | (Level 3) | ||||||||||||
Interest rate swaps | $ | -3,139 | $ | - | $ | -3,139 | $ | - | ||||||||
Contingent consideration obligations | -13,169 | - | - | -13,169 | ||||||||||||
Total | $ | -16,308 | $ | - | $ | -3,139 | $ | -13,169 | ||||||||
Reconciliation of the Fair Value of the Liabilities That Use Significant Unobservable Inputs (Level 3) | ' | |||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||
Three Months | Three Months | Six Months | Six Months | |||||||||||||
Ended June 30, | Ended June 30, | Ended June 30, | Ended June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Balance at beginning of period | $ | -13,459 | $ | -237 | $ | -5,484 | $ | -296 | ||||||||
Issuance of contingent consideration | - | -5,717 | -6,015 | -5,717 | ||||||||||||
Settlement of contingent consideration | - | 67 | - | 126 | ||||||||||||
Total changes included in contingent consideration | 290 | - | -1,670 | - | ||||||||||||
Balance at end of period | $ | -13,169 | $ | -5,887 | $ | -13,169 | $ | -5,887 | ||||||||
Quantitative Information about Level 3 Fair Value Measurements | ' | |||||||||||||||
Range of Inputs | Fair Value | Impairment | ||||||||||||||
Long-lived assets to be held and used | ||||||||||||||||
Relevant asset group | N/A | $ | 13,066 | $ | 73,220 | |||||||||||
Balance sheet account: | ||||||||||||||||
Customer relationships | N/A | N/A | $ | 72,290 | ||||||||||||
Property and equipment | N/A | N/A | $ | 930 | ||||||||||||
Unobservable inputs (discounted cash flow method): | ||||||||||||||||
Probability of contract extension | 80% | N/A | N/A | |||||||||||||
Probability of new contract execution | 20%-90% | N/A | N/A | |||||||||||||
Expected annual revenue range | $3,080-$3,590 | N/A | N/A | |||||||||||||
Risk free interest rate | 1.60% | N/A | N/A | |||||||||||||
Long-lived assets to be disposed of | ||||||||||||||||
Property and Equipment | N/A | $ | - | $ | 3,040 | |||||||||||
Carrying Amount and the Estimated Fair Value of Financial Instruments | ' | |||||||||||||||
Carrying | ||||||||||||||||
Amount | Fair Value | |||||||||||||||
Cash and cash equivalents | $ | 71,177 | $ | 71,177 | ||||||||||||
Accounts receivable | $ | 239,895 | $ | 239,895 | ||||||||||||
Senior Credit Facilities (Level 1) | $ | 1,256,307 | $ | 1,273,778 | ||||||||||||
Senior Notes (Level 2) | $ | 733,689 | $ | 870,675 |
Segment_Reporting_Tables
Segment Reporting (Tables) | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Revenue and Total Segment Contribution for the Reportable Segments | ' | |||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||
Payer | Provider | Pharmacy | All Other | Corporate and Eliminations | Consolidated | |||||||||||||||
Revenue from external customers: | ||||||||||||||||||||
Claims management | $ | 72,649 | $ | - | $ | - | $ | - | $ | - | $ | 72,649 | ||||||||
Payment distribution services | 73,264 | - | - | - | - | 73,264 | ||||||||||||||
Patient billing and payment | ||||||||||||||||||||
services | 69,627 | - | - | - | - | 69,627 | ||||||||||||||
Revenue cycle technology | - | 32,221 | - | - | - | 32,221 | ||||||||||||||
Revenue cycle services | - | 36,106 | - | - | - | 36,106 | ||||||||||||||
Physician services | - | 9,439 | - | - | - | 9,439 | ||||||||||||||
Pharmacy | - | - | 29,966 | - | - | 29,966 | ||||||||||||||
Channel Partner | - | - | - | 10,719 | -6,078 | 4,641 | ||||||||||||||
Dental | - | - | - | 8,245 | - | 8,245 | ||||||||||||||
Inter-segment revenue | 2,383 | - | 104 | - | -2,487 | - | ||||||||||||||
Net revenue | $ | 217,923 | $ | 77,766 | $ | 30,070 | $ | 18,964 | $ | -8,565 | $ | 336,158 | ||||||||
Income (loss) before income taxes | 48,859 | 24,341 | -63,025 | 9,735 | -106,396 | $ | -86,486 | |||||||||||||
Interest expense | - | - | 2 | - | 36,541 | 36,543 | ||||||||||||||
Depreciation and amortization | 16,523 | 11,972 | 3,906 | 59 | 14,170 | 46,630 | ||||||||||||||
EBITDA | 65,382 | 36,313 | -59,117 | 9,794 | -55,685 | -3,313 | ||||||||||||||
Equity compensation | 241 | 262 | 63 | 19 | 1,205 | 1,790 | ||||||||||||||
Acquisition accounting | ||||||||||||||||||||
adjustments | 28 | 18 | 167 | - | 12 | 225 | ||||||||||||||
Acquisition-related costs | 451 | 142 | - | - | 1,521 | 2,114 | ||||||||||||||
Transaction-related costs and | ||||||||||||||||||||
advisory fees | - | - | - | - | 1,615 | 1,615 | ||||||||||||||
Strategic initiatives, duplicative | ||||||||||||||||||||
and transition costs | 59 | 335 | 626 | - | 3,695 | 4,715 | ||||||||||||||
Severance and retention costs | 103 | 172 | 4 | 26 | 746 | 1,051 | ||||||||||||||
Accretion | - | - | - | - | 4,844 | 4,844 | ||||||||||||||
Impairment of long-lived assets | - | - | 73,220 | - | 3,288 | 76,508 | ||||||||||||||
Contingent consideration | - | - | -290 | - | - | -290 | ||||||||||||||
Other | 2,524 | 69 | 803 | 6 | -2,331 | 1,071 | ||||||||||||||
EBITDA Adjustments | 3,406 | 998 | 74,593 | 51 | 14,595 | 93,643 | ||||||||||||||
Adjusted EBITDA | $ | 68,788 | 37,311 | 15,476 | 9,845 | -41,090 | $ | 90,330 | ||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||||||
Payer | Provider | Pharmacy | All Other | Corporate and Eliminations | Consolidated | |||||||||||||||
Revenue from external customers: | ||||||||||||||||||||
Claims management | $ | 70,335 | $ | - | $ | - | $ | - | $ | - | $ | 70,335 | ||||||||
Payment distribution services | 64,603 | - | - | - | - | 64,603 | ||||||||||||||
Patient billing and payment | ||||||||||||||||||||
services | 63,553 | - | - | - | - | 63,553 | ||||||||||||||
Revenue cycle technology | - | 29,701 | - | - | - | 29,701 | ||||||||||||||
Revenue cycle services | - | 30,752 | - | - | - | 30,752 | ||||||||||||||
Physician services | - | 9,031 | - | - | - | 9,031 | ||||||||||||||
Pharmacy | - | - | 25,413 | - | - | 25,413 | ||||||||||||||
Channel Partner | - | - | - | 9,801 | -6,115 | 3,686 | ||||||||||||||
Dental | - | - | - | 8,209 | - | 8,209 | ||||||||||||||
Inter-segment revenue | 1,793 | - | 85 | - | -1,878 | - | ||||||||||||||
Net revenue | $ | 200,284 | $ | 69,484 | $ | 25,498 | $ | 18,010 | $ | -7,993 | $ | 305,283 | ||||||||
Income (loss) before income taxes | 49,223 | 18,113 | 10,302 | 8,453 | -131,550 | $ | -45,459 | |||||||||||||
Interest expense | 2 | 1 | -3 | - | 37,974 | 37,974 | ||||||||||||||
Depreciation and amortization | 15,509 | 10,927 | 3,419 | 22 | 14,069 | 43,946 | ||||||||||||||
EBITDA | 64,734 | 29,041 | 13,718 | 8,475 | -79,507 | 36,461 | ||||||||||||||
Equity compensation | 309 | 296 | -6 | 276 | 898 | 1,773 | ||||||||||||||
Acquisition accounting | ||||||||||||||||||||
adjustments | 87 | 134 | -21 | 5 | 11 | 216 | ||||||||||||||
Acquisition-related costs | 451 | 53 | 5 | - | 100 | 609 | ||||||||||||||
Transaction-related costs and | ||||||||||||||||||||
advisory fees | - | - | - | - | 1,825 | 1,825 | ||||||||||||||
Strategic initiatives, duplicative | ||||||||||||||||||||
and transition costs | 40 | - | 269 | 16 | 730 | 1,055 | ||||||||||||||
Severance and retention costs | 146 | 154 | 234 | 3 | 207 | 744 | ||||||||||||||
Loss on extinguishment of debt and other related costs………...…....…. | - | - | - | - | 24,311 | 24,311 | ||||||||||||||
Accretion | - | - | - | - | 7,459 | 7,459 | ||||||||||||||
Impairment of long-lived assets | - | - | - | - | 1,893 | 1,893 | ||||||||||||||
Other | 26 | 202 | 3 | 6 | 569 | 806 | ||||||||||||||
EBITDA Adjustments | 1,059 | 839 | 484 | 306 | 38,003 | 40,691 | ||||||||||||||
Adjusted EBITDA | $ | 65,793 | $ | 29,880 | $ | 14,202 | $ | 8,781 | $ | -41,504 | $ | 77,152 | ||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||||||
Payer | Provider | Pharmacy | All Other | Corporate and Eliminations | Consolidated | |||||||||||||||
Revenue from external customers: | ||||||||||||||||||||
Claims management | $ | 142,300 | $ | - | $ | - | $ | - | $ | - | $ | 142,300 | ||||||||
Payment distribution services | 140,063 | - | - | - | - | 140,063 | ||||||||||||||
Patient billing and payment | ||||||||||||||||||||
services | 137,560 | - | - | - | - | 137,560 | ||||||||||||||
Revenue cycle technology | - | 62,912 | - | - | - | 62,912 | ||||||||||||||
Revenue cycle services | - | 66,512 | - | - | - | 66,512 | ||||||||||||||
Physician services | - | 18,578 | - | - | - | 18,578 | ||||||||||||||
Pharmacy | - | - | 61,159 | - | - | 61,159 | ||||||||||||||
Channel Partner | - | - | - | 21,507 | -11,418 | 10,089 | ||||||||||||||
Dental | - | - | - | 16,192 | - | 16,192 | ||||||||||||||
Inter-segment revenue | 4,572 | - | 181 | - | -4,753 | - | ||||||||||||||
Net revenue | $ | 424,495 | $ | 148,002 | $ | 61,340 | $ | 37,699 | $ | -16,171 | $ | 655,365 | ||||||||
Income (loss) before income taxes | 95,496 | 41,231 | -51,104 | 19,428 | -215,793 | $ | -110,742 | |||||||||||||
Interest expense | -9 | - | -1 | - | 73,116 | 73,106 | ||||||||||||||
Depreciation and amortization | 33,077 | 23,948 | 8,224 | 118 | 27,726 | 93,093 | ||||||||||||||
EBITDA | 128,564 | 65,179 | -42,881 | 19,546 | -114,951 | 55,457 | ||||||||||||||
Equity compensation | 515 | 495 | 122 | 45 | 2,505 | 3,682 | ||||||||||||||
Acquisition accounting | ||||||||||||||||||||
adjustments | 67 | 50 | 394 | 2 | -36 | 477 | ||||||||||||||
Acquisition-related costs | 908 | 149 | 18 | 1 | 2,445 | 3,521 | ||||||||||||||
Transaction-related costs and | ||||||||||||||||||||
advisory fees | - | - | - | - | 3,115 | 3,115 | ||||||||||||||
Strategic initiatives, duplicative | ||||||||||||||||||||
and transition costs | 59 | 335 | 717 | - | 8,697 | 9,808 | ||||||||||||||
Severance and retention costs | 550 | 488 | 5 | 30 | 2,906 | 3,979 | ||||||||||||||
Accretion | - | - | - | - | 4,768 | 4,768 | ||||||||||||||
Impairment of long-lived assets | - | - | 73,220 | - | 6,356 | 79,576 | ||||||||||||||
Contingent consideration | - | - | 1,670 | - | - | 1,670 | ||||||||||||||
Other | 2,613 | 297 | -842 | 6 | 508 | 2,582 | ||||||||||||||
EBITDA Adjustments | 4,712 | 1,814 | 75,304 | 84 | 31,264 | 113,178 | ||||||||||||||
Adjusted EBITDA | $ | 133,276 | $ | 66,993 | $ | 32,423 | $ | 19,630 | $ | -83,687 | $ | 168,635 | ||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||
Payer | Provider | Pharmacy | All Other | Corporate and Eliminations | Consolidated | |||||||||||||||
Revenue from external customers: | ||||||||||||||||||||
Claims management | $ | 137,640 | $ | - | $ | - | $ | - | $ | - | $ | 137,640 | ||||||||
Payment distribution services | 130,232 | - | - | - | - | 130,232 | ||||||||||||||
Patient billing and payment | ||||||||||||||||||||
services | 126,485 | - | - | - | - | 126,485 | ||||||||||||||
Revenue cycle technology | - | 58,099 | - | - | - | 58,099 | ||||||||||||||
Revenue cycle services | - | 61,101 | - | - | - | 61,101 | ||||||||||||||
Physician services | - | 17,793 | - | - | - | 17,793 | ||||||||||||||
Pharmacy | - | - | 49,967 | - | - | 49,967 | ||||||||||||||
Channel Partner | - | - | - | 19,459 | -12,545 | 6,914 | ||||||||||||||
Dental | - | - | - | 16,411 | - | 16,411 | ||||||||||||||
Inter-segment revenue | 2,774 | - | 180 | - | -2,954 | - | ||||||||||||||
Net revenue | $ | 397,131 | $ | 136,993 | $ | 50,147 | $ | 35,870 | $ | -15,499 | $ | 604,642 | ||||||||
Income (loss) before income taxes | 92,911 | 34,935 | 21,015 | 16,530 | -233,658 | $ | -68,267 | |||||||||||||
Interest expense | 2 | 32 | -5 | - | 79,360 | 79,389 | ||||||||||||||
Depreciation and amortization | 32,022 | 24,029 | 7,264 | 45 | 27,402 | 90,762 | ||||||||||||||
EBITDA | 124,935 | 58,996 | 28,274 | 16,575 | -126,896 | 101,884 | ||||||||||||||
Equity compensation | 580 | 591 | 78 | 552 | 1,746 | 3,547 | ||||||||||||||
Acquisition accounting | ||||||||||||||||||||
adjustments | 171 | 326 | -41 | 11 | 23 | 490 | ||||||||||||||
Acquisition-related costs | 937 | 62 | 6 | 2 | 253 | 1,260 | ||||||||||||||
Transaction-related costs and | ||||||||||||||||||||
advisory fees | - | - | - | - | 3,325 | 3,325 | ||||||||||||||
Strategic initiatives, duplicative | ||||||||||||||||||||
and transition costs | 130 | - | 558 | 69 | 1,711 | 2,468 | ||||||||||||||
Severance and retention costs | 350 | 214 | 234 | 263 | 568 | 1,629 | ||||||||||||||
Loss on extinguishment of debt and other related costs…………………… | - | - | - | - | 24,311 | 24,311 | ||||||||||||||
Accretion | - | - | - | - | 11,599 | 11,599 | ||||||||||||||
Impairment of long-lived assets | - | - | - | - | 1,862 | 1,862 | ||||||||||||||
Other | 117 | 408 | 6 | 6 | 283 | 820 | ||||||||||||||
EBITDA Adjustments | 2,285 | 1,601 | 841 | 903 | 45,681 | 51,311 | ||||||||||||||
Adjusted EBITDA | $ | 127,220 | $ | 60,597 | $ | 29,115 | $ | 17,478 | $ | -81,215 | $ | 153,195 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Summary of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||
13. Accumulated Other Comprehensive Income (Loss) | |||||||||
The following is a summary of the accumulated other comprehensive income (loss) balances, net of taxes, as of and for the six months ended June 30, 2014. | |||||||||
Foreign | Accumulated | ||||||||
Currency | Other | ||||||||
Translation | Cash Flow | Comprehensive | |||||||
Adjustment | Hedge | Income (Loss) | |||||||
Balance at January 1, 2014 | $ | -264 | $ | -1,079 | $ | -1,343 | |||
Change associated with foreign currency translation | 27 | - | 27 | ||||||
Change associated with current period hedging | - | -2,142 | -2,142 | ||||||
Reclassification into earnings | - | 1,283 | 1,283 | ||||||
Balance at June 30, 2014 | $ | -237 | $ | -1,938 | $ | -2,175 |
Supplemental_Condensed_Consoli1
Supplemental Condensed Consolidating Financial Information (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Condensed Consolidating Balance Sheet | ' | |||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||
As of June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
ASSETS | ||||||||||||||||
Current assets: | ||||||||||||||||
Cash and cash equivalents | $ | 890 | $ | 70,287 | $ | - | $ | 71,177 | ||||||||
Accounts receivable, net of allowance for | ||||||||||||||||
doubtful accounts | - | 239,895 | - | 239,895 | ||||||||||||
Deferred income tax assets | - | 17,809 | - | 17,809 | ||||||||||||
Prepaid expenses and other current assets | 5,677 | 27,797 | - | 33,474 | ||||||||||||
Total current assets | 6,567 | 355,788 | - | 362,355 | ||||||||||||
Property and equipment, net | 8 | 242,180 | - | 242,188 | ||||||||||||
Due from affiliates | - | 126,741 | -126,741 | - | ||||||||||||
Investment in consolidated subsidiaries | 1,706,862 | - | -1,706,862 | - | ||||||||||||
Goodwill | - | 1,508,593 | - | 1,508,593 | ||||||||||||
Intangible assets, net | 138,000 | 1,375,894 | - | 1,513,894 | ||||||||||||
Other assets, net | 131,059 | 17,771 | -127,985 | 20,845 | ||||||||||||
Total assets | $ | 1,982,496 | $ | 3,626,967 | $ | -1,961,588 | $ | 3,647,875 | ||||||||
LIABILITIES AND EQUITY | ||||||||||||||||
Current liabilities: | ||||||||||||||||
Accounts payable | $ | - | $ | 9,245 | $ | - | $ | 9,245 | ||||||||
Accrued expenses | 7,808 | 118,879 | - | 126,687 | ||||||||||||
Deferred revenues | - | 10,001 | - | 10,001 | ||||||||||||
Current portion of long-term debt | 5,550 | 18,015 | - | 23,565 | ||||||||||||
Total current liabilities | 13,358 | 156,140 | - | 169,498 | ||||||||||||
Due to affiliates | 126,741 | - | -126,741 | - | ||||||||||||
Long-term debt, excluding current portion | 776,466 | 1,224,082 | - | 2,000,548 | ||||||||||||
Deferred income tax liabilities | - | 527,114 | -127,985 | 399,129 | ||||||||||||
Tax receivable agreement obligations to related parties | 155,264 | - | - | 155,264 | ||||||||||||
Other long-term liabilities | 564 | 12,769 | - | 13,333 | ||||||||||||
Commitments and contingencies | ||||||||||||||||
Equity | 910,103 | 1,706,862 | -1,706,862 | 910,103 | ||||||||||||
Total liabilities and equity | $ | 1,982,496 | $ | 3,626,967 | $ | -1,961,588 | $ | 3,647,875 | ||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
ASSETS | ||||||||||||||||
Current assets: | ||||||||||||||||
Cash and cash equivalents | $ | 2,794 | $ | 73,744 | $ | - | $ | 76,538 | ||||||||
Accounts receivable, net of allowance for | ||||||||||||||||
doubtful accounts | - | 214,247 | - | 214,247 | ||||||||||||
Deferred income tax assets | - | 6,317 | - | 6,317 | ||||||||||||
Prepaid expenses and other current assets | 3,441 | 23,578 | - | 27,019 | ||||||||||||
Total current assets | 6,235 | 317,886 | - | 324,121 | ||||||||||||
Property and equipment, net | 10 | 269,460 | - | 269,470 | ||||||||||||
Due from affiliates | - | 69,142 | -69,142 | - | ||||||||||||
Investment in subsidiaries | 1,764,213 | - | -1,764,213 | - | ||||||||||||
Goodwill | - | 1,502,434 | - | 1,502,434 | ||||||||||||
Intangible assets, net | 142,500 | 1,490,188 | - | 1,632,688 | ||||||||||||
Other assets, net | 64,536 | 14,949 | -60,316 | 19,169 | ||||||||||||
Total assets | $ | 1,977,494 | $ | 3,664,059 | $ | -1,893,671 | $ | 3,747,882 | ||||||||
LIABILITIES AND EQUITY | ||||||||||||||||
Current liabilities: | ||||||||||||||||
Accounts payable | $ | - | $ | 8,367 | $ | - | $ | 8,367 | ||||||||
Accrued expenses | 8,205 | 122,944 | - | 131,149 | ||||||||||||
Deferred revenues | - | 10,881 | - | 10,881 | ||||||||||||
Current portion of long-term debt | 5,775 | 25,555 | - | 31,330 | ||||||||||||
Total current liabilities | 13,980 | 167,747 | - | 181,727 | ||||||||||||
Due to affiliates | 69,142 | - | -69,142 | - | ||||||||||||
Long-term debt, excluding current portion | 775,330 | 1,223,696 | - | 1,999,026 | ||||||||||||
Deferred income tax liabilities | - | 496,579 | -60,316 | 436,263 | ||||||||||||
Tax receivable agreement obligations to related parties | 150,496 | - | - | 150,496 | ||||||||||||
Other long-term liabilities | - | 11,824 | - | 11,824 | ||||||||||||
Commitments and contingencies | - | - | - | - | ||||||||||||
Total equity | 968,546 | 1,764,213 | -1,764,213 | 968,546 | ||||||||||||
Total liabilities and equity | $ | 1,977,494 | $ | 3,664,059 | $ | -1,893,671 | $ | 3,747,882 | ||||||||
Condensed Consolidating Statement of Operations | ' | |||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Revenue | $ | - | $ | 336,158 | $ | - | $ | 336,158 | ||||||||
Costs and expenses: | ||||||||||||||||
Cost of operations (exclusive of depreciation | ||||||||||||||||
and amortization below) | - | 201,398 | - | 201,398 | ||||||||||||
Development and engineering | - | 7,380 | - | 7,380 | ||||||||||||
Sales, marketing, general and administrative | 5,472 | 48,130 | - | 53,602 | ||||||||||||
Depreciation and amortization | 2,251 | 44,379 | - | 46,630 | ||||||||||||
Accretion | 4,844 | - | - | 4,844 | ||||||||||||
Impairment of long-lived assets | - | 76,508 | - | 76,508 | ||||||||||||
Operating income (loss) | -12,567 | -41,637 | - | -54,204 | ||||||||||||
Equity in earnings of consolidated | ||||||||||||||||
subsidiaries | 39,723 | - | -39,723 | - | ||||||||||||
Interest expense, net | 23,417 | 13,126 | - | 36,543 | ||||||||||||
Contingent consideration | - | -290 | - | -290 | ||||||||||||
Other | -114 | -3,857 | - | -3,971 | ||||||||||||
Income (loss) before income tax provision (benefit) | -75,593 | -50,616 | 39,723 | -86,486 | ||||||||||||
Income tax provision (benefit) | -16,066 | -10,893 | - | -26,959 | ||||||||||||
Net income (loss) | $ | -59,527 | $ | -39,723 | $ | 39,723 | $ | -59,527 | ||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Revenue | $ | - | $ | 305,283 | $ | - | $ | 305,283 | ||||||||
Costs and expenses: | ||||||||||||||||
Cost of operations (exclusive of depreciation | ||||||||||||||||
and amortization below) | - | 188,026 | - | 188,026 | ||||||||||||
Development and engineering | - | 7,626 | - | 7,626 | ||||||||||||
Sales, marketing, general and administrative | 2,732 | 37,926 | - | 40,658 | ||||||||||||
Depreciation and amortization | 2,251 | 41,695 | - | 43,946 | ||||||||||||
Accretion | 7,459 | - | - | 7,459 | ||||||||||||
Impairment of long-lived assets | - | 1,893 | - | 1,893 | ||||||||||||
Operating income (loss) | -12,442 | 28,117 | - | 15,675 | ||||||||||||
Equity in earnings of consolidated | ||||||||||||||||
subsidiaries | 5,525 | - | -5,525 | - | ||||||||||||
Interest expense, net | 23,489 | 14,485 | - | 37,974 | ||||||||||||
Loss on extinguishment of debt | 485 | 22,675 | - | 23,160 | ||||||||||||
Income (loss) before income tax provision (benefit) | -41,941 | -9,043 | 5,525 | -45,459 | ||||||||||||
Income tax provision (benefit) | -13,673 | -3,518 | - | -17,191 | ||||||||||||
Net income (loss) | $ | -28,268 | $ | -5,525 | $ | 5,525 | $ | -28,268 | ||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Revenue | $ | - | $ | 655,365 | $ | - | $ | 655,365 | ||||||||
Costs and expenses: | ||||||||||||||||
Cost of operations (exclusive of depreciation | ||||||||||||||||
and amortization below) | - | 395,538 | - | 395,538 | ||||||||||||
Development and engineering | - | 16,616 | - | 16,616 | ||||||||||||
Sales, marketing, general and administrative | 12,488 | 93,223 | - | 105,711 | ||||||||||||
Depreciation and amortization | 4,502 | 88,591 | - | 93,093 | ||||||||||||
Accretion | 4,768 | - | - | 4,768 | ||||||||||||
Impairment of long-lived assets | - | 79,576 | - | 79,576 | ||||||||||||
Operating income (loss) | -21,758 | -18,179 | - | -39,937 | ||||||||||||
Equity in earnings of consolidated | ||||||||||||||||
subsidiaries | 61,129 | - | -61,129 | - | ||||||||||||
Interest expense, net | 46,807 | 26,299 | - | 73,106 | ||||||||||||
Contingent consideration | - | 1,670 | - | 1,670 | ||||||||||||
Other | -114 | -3,857 | - | -3,971 | ||||||||||||
Income (loss) before income tax provision (benefit) | -129,580 | -42,291 | 61,129 | -110,742 | ||||||||||||
Income tax provision (benefit) | -67,064 | 18,838 | - | -48,226 | ||||||||||||
Net income (loss) | $ | -62,516 | $ | -61,129 | $ | 61,129 | $ | -62,516 | ||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Revenue | $ | - | $ | 604,642 | $ | - | $ | 604,642 | ||||||||
Costs and expenses: | ||||||||||||||||
Cost of operations (exclusive of depreciation | ||||||||||||||||
and amortization below) | - | 371,449 | - | 371,449 | ||||||||||||
Development and engineering | - | 15,324 | - | 15,324 | ||||||||||||
Sales, marketing, general and administrative | 5,026 | 74,338 | - | 79,364 | ||||||||||||
Depreciation and amortization | 4,502 | 86,260 | - | 90,762 | ||||||||||||
Accretion | 11,599 | - | - | 11,599 | ||||||||||||
Impairment of long-lived assets | - | 1,862 | - | 1,862 | ||||||||||||
Operating income (loss) | -21,127 | 55,409 | - | 34,282 | ||||||||||||
Equity in earnings of consolidated | ||||||||||||||||
subsidiaries | -2,451 | - | 2,451 | - | ||||||||||||
Interest expense, net | 47,041 | 32,348 | - | 79,389 | ||||||||||||
Loss on extinguishment of debt | 485 | 22,675 | - | 23,160 | ||||||||||||
Income (loss) before income tax provision (benefit) | -66,202 | 386 | -2,451 | -68,267 | ||||||||||||
Income tax provision (benefit) | -24,482 | -2,065 | - | -26,547 | ||||||||||||
Net income (loss) | $ | -41,720 | $ | 2,451 | $ | -2,451 | $ | -41,720 | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ' | |||||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Net income (loss) | $ | -59,527 | $ | -39,723 | $ | 39,723 | $ | -59,527 | ||||||||
Other comprehensive income (loss): | ||||||||||||||||
Changes in fair value of interest rate swap, | ||||||||||||||||
net of taxes | -735 | - | - | -735 | ||||||||||||
Foreign currency translation adjustment | - | 100 | - | 100 | ||||||||||||
Equity in other comprehensive earnings | 100 | - | -100 | - | ||||||||||||
Other comprehensive income (loss) | -635 | 100 | -100 | -635 | ||||||||||||
Total comprehensive income (loss) | $ | -60,162 | $ | -39,623 | $ | 39,623 | $ | -60,162 | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Net income (loss) | $ | -28,268 | $ | -5,525 | $ | 5,525 | $ | -28,268 | ||||||||
Other comprehensive income (loss): | ||||||||||||||||
Changes in fair value of interest rate swap, net of taxes | 3,147 | - | - | 3,147 | ||||||||||||
Foreign currency translation adjustment | - | -64 | - | -64 | ||||||||||||
Equity in other comprehensive earnings | -64 | - | 64 | - | ||||||||||||
Other comprehensive income (loss) | 3,083 | -64 | 64 | 3,083 | ||||||||||||
Total comprehensive income (loss) | $ | -25,185 | $ | -5,589 | $ | 5,589 | $ | -25,185 | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Net income (loss) | $ | -62,516 | $ | -61,129 | $ | 61,129 | $ | -62,516 | ||||||||
Other comprehensive income (loss): | ||||||||||||||||
Changes in fair value of interest rate swap, | ||||||||||||||||
net of taxes | -859 | - | - | -859 | ||||||||||||
Foreign currency translation adjustment | - | 27 | - | 27 | ||||||||||||
Equity in other comprehensive earnings | 27 | - | -27 | - | ||||||||||||
Other comprehensive income (loss) | -832 | 27 | -27 | -832 | ||||||||||||
Total comprehensive income (loss) | $ | -63,348 | $ | -61,102 | $ | 61,102 | $ | -63,348 | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | ||||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Net income (loss) | $ | -41,720 | $ | 2,451 | $ | -2,451 | $ | -41,720 | ||||||||
Other comprehensive income (loss): | ||||||||||||||||
Changes in fair value of interest rate swap, | ||||||||||||||||
net of taxes | 3,575 | - | - | 3,575 | ||||||||||||
Foreign currency translation adjustment | - | -99 | - | -99 | ||||||||||||
Equity in other comprehensive earnings | -99 | - | 99 | - | ||||||||||||
Other comprehensive income (loss) | 3,476 | -99 | 99 | 3,476 | ||||||||||||
Total comprehensive income (loss) | $ | -38,244 | $ | 2,352 | $ | -2,352 | $ | -38,244 | ||||||||
Condensed Consolidating Statement of Cash Flows | ' | |||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Operating activities | ||||||||||||||||
Net income (loss) | $ | -41,720 | $ | 2,451 | $ | -2,451 | $ | -41,720 | ||||||||
Adjustments to reconcile net income (loss) to net cash | ||||||||||||||||
provided by (used in) operating activities: | ||||||||||||||||
Depreciation and amortization | 4,502 | 86,260 | - | 90,762 | ||||||||||||
Accretion expense | 11,599 | - | - | 11,599 | ||||||||||||
Equity compensation expense | 88 | 3,459 | - | 3,547 | ||||||||||||
Deferred income tax benefit | -24,482 | -2,969 | - | -27,451 | ||||||||||||
Amortization of debt discount and issuance costs | 1,243 | 3,474 | - | 4,717 | ||||||||||||
Loss on extinguishment of debt | 478 | 22,350 | - | 22,828 | ||||||||||||
Impairment of long lived assets | - | 1,862 | - | 1,862 | ||||||||||||
Equity in earnings of consolidated subsidiaries | -2,451 | - | 2,451 | - | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||
Accounts receivable | - | -10,208 | - | -10,208 | ||||||||||||
Prepaid expenses and other | -1,022 | 325 | - | -697 | ||||||||||||
Accounts payable | - | 5,498 | - | 5,498 | ||||||||||||
Accrued expenses, deferred revenue, and other liabilities | 31,499 | -7,960 | - | 23,539 | ||||||||||||
Tax receivable agreement obligations to related parties | -104 | - | - | -104 | ||||||||||||
Due to/from affiliates | 1,375 | -1,375 | - | - | ||||||||||||
Net cash provided by (used in) operating activities | -18,995 | 103,167 | - | 84,172 | ||||||||||||
Investing activities | ||||||||||||||||
Purchases of property and equipment | - | -33,246 | - | -33,246 | ||||||||||||
Payments for acquisitions, net of cash acquired | - | -18,291 | - | -18,291 | ||||||||||||
Investment in subsidiaries, net | 50,281 | - | -50,281 | - | ||||||||||||
Net cash provided by (used in) investing activities | 50,281 | -51,537 | -50,281 | -51,537 | ||||||||||||
Financing activities | ||||||||||||||||
Distributions from (to) Emdeon Inc., net | - | -50,281 | 50,281 | - | ||||||||||||
Debt principal payments | -142 | -6,330 | - | -6,472 | ||||||||||||
Payment of loan costs | - | -2,178 | - | -2,178 | ||||||||||||
Repayment of deferred financing arrangements | - | -1,844 | - | -1,844 | ||||||||||||
Repurchase of Parent common stock | - | -250 | - | -250 | ||||||||||||
Other | - | -735 | - | -735 | ||||||||||||
Net cash provided by (used in) financing activities | -142 | -61,618 | 50,281 | -11,479 | ||||||||||||
Net increase (decrease) in cash and cash equivalents | 31,144 | -9,988 | - | 21,156 | ||||||||||||
Cash and cash equivalents at beginning of period | 754 | 31,009 | - | 31,763 | ||||||||||||
Cash and cash equivalents at end of period | $ | 31,898 | $ | 21,021 | $ | - | $ | 52,919 | ||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||
Guarantor | Consolidating | |||||||||||||||
Emdeon Inc. | Subsidiaries | Adjustments | Consolidated | |||||||||||||
Operating activities | ||||||||||||||||
Net Income (loss) | $ | -62,516 | $ | -61,129 | $ | 61,129 | $ | -62,516 | ||||||||
Adjustments to reconcile net income (loss) to net cash | ||||||||||||||||
provided by operating activities: | ||||||||||||||||
Depreciation and amortization | 4,502 | 88,591 | - | 93,093 | ||||||||||||
Accretion | 4,768 | - | - | 4,768 | ||||||||||||
Equity compensation | 182 | 3,500 | - | 3,682 | ||||||||||||
Deferred income tax expense (benefit) | -67,669 | 18,974 | - | -48,695 | ||||||||||||
Amortization of debt discount and issuance costs | 1,319 | 2,524 | - | 3,843 | ||||||||||||
Contingent consideration | - | 1,670 | - | 1,670 | ||||||||||||
Impairment of long lived assets | - | 79,576 | - | 79,576 | ||||||||||||
Equity in earnings of consolidated subsidiaries | 61,129 | - | -61,129 | - | ||||||||||||
Other | - | -2,029 | - | -2,029 | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||
Accounts receivable | - | -25,648 | - | -25,648 | ||||||||||||
Prepaid expenses and other | -1,496 | -5,755 | - | -7,251 | ||||||||||||
Accounts payable | - | 1,237 | - | 1,237 | ||||||||||||
Accrued expenses, deferred revenue, and other liabilities | -541 | -7,356 | - | -7,897 | ||||||||||||
Due to/from affiliates | 57,599 | -57,599 | - | - | ||||||||||||
Net cash provided (used in) by operating activities | -2,723 | 36,556 | - | 33,833 | ||||||||||||
Investing activities | ||||||||||||||||
Purchases of property and equipment | - | -25,952 | - | -25,952 | ||||||||||||
Payments for acquisitions, net of cash acquired | - | -779 | - | -779 | ||||||||||||
Proceeds from sale of cost method investment | 36 | - | - | 36 | ||||||||||||
Investment in subsidiary | -332 | - | 332 | - | ||||||||||||
Net cash provided by (used in) investing activities | -296 | -26,731 | 332 | -26,695 | ||||||||||||
Financing activities | ||||||||||||||||
Distributions from (to) Emdeon Inc. net | - | 332 | -332 | - | ||||||||||||
Debt principal payments | -162 | -7,507 | - | -7,669 | ||||||||||||
Payment of debt assumed from acquisition | - | -1,877 | - | -1,877 | ||||||||||||
Repayment of deferred financing arrangements | - | -4,176 | - | -4,176 | ||||||||||||
Repurchase of Parent common stock | -815 | -54 | - | -869 | ||||||||||||
Capital contribution from Parent | 2,092 | - | - | 2,092 | ||||||||||||
Net cash provided by (used in) financing activities | 1,115 | -13,282 | -332 | -12,499 | ||||||||||||
Net decrease in cash and cash equivalents | -1,904 | -3,457 | - | -5,361 | ||||||||||||
Cash and cash equivalents at beginning of period | 2,794 | 73,744 | - | 76,538 | ||||||||||||
Cash and cash equivalents at end of period | $ | 890 | $ | 70,287 | $ | - | $ | 71,177 | ||||||||
Basis_of_Presentation_Narrativ
Basis of Presentation (Narrative) (Detail) (USD $) | 3 Months Ended | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2013 | Jun. 30, 2013 |
Disclosure Nature Of Business And Organization Narrative [Abstract] | ' | ' |
Rebate payments to channel partners | $6,202 | $12,545 |
Business_Combinations_Summary_
Business Combinations (Summary Of Information Related To Acquisitions) (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | Goold [Member] | Goold [Member] | Goold [Member] | Goold [Member] | Goold [Member] | Goold [Member] | Goold [Member] | Vieosoft [Member] | Vieosoft [Member] | Vieosoft [Member] | Vieosoft [Member] | Vieosoft [Member] | Vieosoft [Member] | Vieosoft [Member] | ||
Noncompete Agreements [Member] | Customer Relationships [Member] | Backlog and other [Member] | Noncompete Agreements [Member] | Customer Relationships [Member] | Backlog and other [Member] | |||||||||||
Total Consideration Fair Value at Acquisition Date: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid at closing | ' | ' | ' | ' | $19,391 | ' | ' | ' | ' | ' | ' | $800 | ' | ' | ' | ' |
Other | ' | ' | ' | ' | -5 | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Allocation of the Consideration Transferred: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable | ' | ' | 3,435 | ' | 3,435 | ' | ' | ' | ' | 0 | ' | 0 | ' | ' | ' | ' |
Prepaid expenses and other current assets | ' | ' | 647 | ' | 647 | ' | ' | ' | ' | 0 | ' | 0 | ' | ' | ' | ' |
Property and equipment | ' | ' | 7,695 | ' | 7,695 | ' | ' | ' | ' | 0 | ' | 0 | ' | ' | ' | ' |
Identifiable intangible assets | ' | ' | ' | ' | ' | ' | 280 | 5,160 | 460 | ' | ' | ' | ' | 1,320 | 0 | 2,060 |
Goodwill | 1,508,593 | 1,502,434 | 14,300 | ' | 14,300 | ' | ' | ' | ' | 6,159 | ' | 6,159 | ' | ' | ' | ' |
Accounts payable | ' | ' | -541 | ' | -541 | ' | ' | ' | ' | 0 | ' | 0 | ' | ' | ' | ' |
Accrued expenses | ' | ' | -2,076 | ' | -2,076 | ' | ' | ' | ' | -194 | ' | -194 | ' | ' | ' | ' |
Deferred Revenue | ' | ' | -101 | ' | -101 | ' | ' | ' | ' | 0 | ' | 0 | ' | ' | ' | ' |
Current maturities of long-term debt | ' | ' | -218 | ' | -218 | ' | ' | ' | ' | -1,877 | ' | -1,877 | ' | ' | ' | ' |
Deferred income tax liabilities | ' | ' | -5,203 | ' | -5,203 | ' | ' | ' | ' | -674 | ' | -674 | ' | ' | ' | ' |
Acquisition costs in sales, marketing, general and administrative expense: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition costs in sales, marketing, general and administrative expense | ' | ' | 0 | 254 | 0 | 258 | ' | ' | ' | 0 | 0 | 111 | 0 | ' | ' | ' |
Other Information: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross contractual accounts receivable | ' | ' | 3,435 | ' | 3,435 | ' | ' | ' | ' | 0 | ' | 0 | ' | ' | ' | ' |
Amount not expected to be collected | ' | ' | 0 | ' | 0 | ' | ' | ' | ' | 0 | ' | 0 | ' | ' | ' | ' |
Goodwill expected to be deductible for tax purposes | ' | ' | $0 | ' | $0 | ' | ' | ' | ' | $0 | ' | $0 | ' | ' | ' | ' |
Business_Combinations_Continge
Business Combinations (Contingent Consideration Information) (Detail) (USD $) | 3 Months Ended | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2014 |
Goold [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Basis of Measurement | ' | 'Award of contracts with annual revenue exceeding targeted amount |
Type of measurement | ' | 'Level 3 |
Probability of retaining contracts that expire during the measurement period | ' | 90.00% |
Expected payment date | ' | 15-Dec-14 |
Discount Rate | ' | 15.40% |
Increase (decrease) to net loss | ($721) | $1,012 |
Goold [Member] | Maximum [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Contingent consideration range, Max | 15,000 | 15,000 |
Measurement period | ' | 30-Sep-14 |
Probability of winning new contracts | ' | 50.00% |
Range of baseline revenue retention for existing customers | ' | 125.00% |
Goold [Member] | Minimum [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Contingent consideration range, Min | 0 | 0 |
Measurement period | ' | 1-Jul-13 |
Probability of winning new contracts | ' | 10.00% |
Range of baseline revenue retention for existing customers | ' | 75.00% |
Vieosoft [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Basis of Measurement | ' | 'Milestone achievement, revenue performance |
Type of measurement | ' | 'Level 3 |
Probability of achieving milestone objectives | ' | 90.00% |
Increase (decrease) to net loss | 431 | 658 |
Vieosoft [Member] | Maximum [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Contingent consideration range, Max | 43,104 | 43,104 |
Measurement period | ' | 31-Dec-17 |
Probability of achieving minimum gross profit margin, year | ' | '2017 |
Probability of achieving minimum gross profit margin | ' | 90.00% |
Expected Payment Date, Year | ' | '2017 |
Discount Rate | ' | 53.20% |
Vieosoft [Member] | Minimum [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Contingent consideration range, Min | $0 | $0 |
Measurement period | ' | 12-Feb-14 |
Probability of achieving minimum gross profit margin, year | ' | '2015 |
Probability of achieving minimum gross profit margin | ' | 5.00% |
Expected Payment Date, Year | ' | '2015 |
Discount Rate | ' | 5.20% |
Recovered_Sheet1
Goodwill And Intangible Assets (Goodwill Activity) (Detail) (Pharmacy [Member], Vieosoft [Member], USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Pharmacy [Member] | Vieosoft [Member] | ' |
Goodwill [Line Items] | ' |
Increase in goodwill | $6,159 |
Recovered_Sheet2
Goodwill And Intangible Assets (Intangible Assets Subject to Amortization) (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | Customer Relationships [Member] | Trade Names [Member] | Noncompete Agreements [Member] | Data Sublicense Agreement [Member] | Other [Member] | ||
Y | Y | Y | Y | Y | |||
Finite Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Remaining Life | ' | ' | 15.9 | 17 | 2.3 | 3.3 | 5.9 |
Gross Carrying Amount | $1,768,175 | ' | $1,563,722 | $156,530 | $14,400 | $31,000 | $2,523 |
Accumulated Amortization | -254,281 | ' | -211,671 | -21,183 | -7,232 | -13,965 | -230 |
Intangible assets, net | $1,513,894 | $1,632,688 | $1,352,051 | $135,347 | $7,168 | $17,035 | $2,293 |
Goodwill_And_Intangible_Assets2
Goodwill And Intangible Assets (Narrative) (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Finite Lived Intangible Assets [Line Items] | ' | ' |
Amortization expense | $49,887 | $53,000 |
Goodwill_And_Intangible_Assets3
Goodwill And Intangible Assets (Aggregate Future Amortization Expense For Intangible Assets) (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite Lived Intangible Assets [Line Items] | ' | ' |
2014 (remainder) | $50,982 | ' |
2015 | 101,557 | ' |
2016 | 100,970 | ' |
2017 | 97,695 | ' |
2018 | 93,671 | ' |
Thereafter | 1,069,019 | ' |
Intangible assets, net | $1,513,894 | $1,632,688 |
LongTerm_Debt_Schedule_Of_Long
Long-Term Debt (Schedule Of Long-Term Debt) (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Line Of Credit Facility [Line Items] | ' | ' |
Less current portion | ($23,565) | ($31,330) |
Other | 11,574 | 12,592 |
Long-term debt | 2,000,548 | 1,999,026 |
Data Sublicense Agreement [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt | 22,543 | 22,543 |
Senior Secured Term Loan Due November Two Two Thousand And Eighteen [Member] | Senior Credit Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt | 1,256,307 | 1,262,445 |
Senior Secured Revolving Credit Facility Expiring November Two Two Thousand And Sixteen [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt | 0 | 0 |
Eleven Percent Senior Notes Due December Thirty One Two Thousand And Nineteen [Member] | Senior Notes [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt | 367,795 | 367,336 |
Eleven Point Two Five Percent Senior Notes Due December Thirty One Two Thousand And Twenty [Member] | Senior Notes [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt | $365,894 | $365,440 |
LongTerm_Debt_Schedule_Of_Long1
Long-Term Debt (Schedule Of Long-Term Debt) (Parenthetical) (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Senior Secured Term Loan Due November Two Two Thousand And Eighteen [Member] | Senior Credit Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt, face amount | $1,301,000,000 | ' |
Long-term debt, due date | 'November 2, 2018 | ' |
Long-term debt, unamortized discount | 15,063,000 | 15,826,000 |
Long-term debt, effective interest rate | 4.21% | ' |
Senior Secured Revolving Credit Facility Expiring November Two Two Thousand And Sixteen [Member] | Senior Credit Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt, face amount | 125,000,000 | ' |
Long-term debt, due date | 'November 2, 2016 | ' |
Eleven Percent Senior Notes Due December Thirty One Two Thousand And Nineteen [Member] | Senior Notes [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt, face amount | 375,000,000 | ' |
Long-term debt, stated interest rate | 11.00% | ' |
Long-term debt, due date | 'December 31, 2019 | ' |
Long-term debt, unamortized discount | 7,438,000 | 7,664,000 |
Long-term debt, effective interest rate | 11.53% | ' |
Eleven Point Two Five Percent Senior Notes Due December Thirty One Two Thousand And Twenty [Member] | Senior Notes [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt, face amount | 375,000,000 | ' |
Long-term debt, stated interest rate | 11.25% | ' |
Long-term debt, due date | 'December 31, 2020 | ' |
Long-term debt, unamortized discount | $9,336,000 | $9,560,000 |
Long-term debt, effective interest rate | 11.86% | ' |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Detail) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Line Of Credit Facility [Line Items] | ' | ' |
Accordion credit | 300,000 | ' |
Redemption period | '180 days | ' |
Deferred Financing obligations recorded at the present value of the scheduled payments | 10,354 | ' |
Senior Notes [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Percentage of principal amount equal to purchase price of notes | 100.00% | ' |
Senior Credit Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Federal funds rate | 0.50% | ' |
Additional rate included in LIBOR determination | 1.00% | ' |
Net cash proceeds of incurrence of debt, percentage | 100.00% | ' |
Annual excess cash flow | ' | 50.00% |
Net cash proceeds of asset sales and casualty and condemnation events | 100.00% | ' |
Quarterly payment on original principal amount of loans | 0.25% | ' |
Capital stock of foreign restricted subsidiaries | 65.00% | ' |
Eleven Percent Senior Notes Due December Thirty One Two Thousand And Nineteen [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Principal amount redemption, percentage | 35.00% | ' |
Aggregate redemption price plus any accured and unpaid interest, percentage | 100.00% | ' |
Eleven Percent Senior Notes Due December Thirty One Two Thousand And Nineteen [Member] | Senior Notes [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt, due date | 'December 31, 2019 | ' |
Long-term debt, stated interest rate | 11.00% | ' |
Eleven Point Two Five Percent Senior Notes Due December Thirty One Two Thousand And Twenty [Member] | Senior Notes [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt, due date | 'December 31, 2020 | ' |
Long-term debt, stated interest rate | 11.25% | ' |
Senior Secured Term Loan Due November Two Two Thousand And Eighteen [Member] | Senior Credit Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt, due date | 'November 2, 2018 | ' |
Senior Secured Revolving Credit Facility Expiring November Two Two Thousand And Sixteen [Member] | Senior Credit Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Long-term debt, due date | 'November 2, 2016 | ' |
Maximum [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Net leverage ratio | 4 | ' |
Maximum [Member] | Senior Credit Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Net leverage ratio | 5.35 | ' |
Reduction in annual excess cash flow | 25.00% | ' |
Maximum [Member] | Two Thousand Nineteen Notes [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Repurchase price percent equal of the principal amount, plus accrued and unpaid interest | 101.00% | ' |
Minimum [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Net leverage ratio | 1 | ' |
Minimum [Member] | Senior Credit Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Net leverage ratio | 1 | ' |
Reduction in annual excess cash flow | 0.00% | ' |
Minimum [Member] | Eleven Percent Senior Notes Due December Thirty One Two Thousand And Nineteen [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Principal amount redemption, minimum percentage | 50.00% | ' |
Revolving Credit Facility [Member] | Senior Credit Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
LIBOR plus rate, after amendment | 3.50% | ' |
LIBOR plus rate, after second amendment | 2.50% | ' |
Decrease in applicable margin rate | 3.25% | ' |
Commitment fees, percentage | 0.50% | ' |
Revolving Credit Facility [Member] | Senior Credit Facility [Member] | Previous Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
LIBOR plus rate, after amendment | 5.25% | ' |
Same Day Advance Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Letters of credit | 30,000 | ' |
Letters Of Credit [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Letters of credit | 50,000 | ' |
Senior Secured Term Loan Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Additional term loans for general corporate purposes | 80,000 | ' |
Term Loan Facility [Member] | Senior Credit Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Federal funds rate | 2.25% | ' |
Additional rate included in LIBOR determination | 1.25% | ' |
LIBOR spread, after amendment | 3.75% | ' |
LIBOR spread, after second amendment | 2.50% | ' |
LIBOR plus rate, before amendment | 5.50% | ' |
LIBOR floor rate | 1.25% | ' |
Term Loan Facility [Member] | Senior Credit Facility [Member] | Previous Facility [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
LIBOR plus rate, before amendment | 5.00% | ' |
Data Sublicense Agreement [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Payments due related to an asset acquired | 30,000 | ' |
Data Sublicense Agreement [Member] | Two Thousand Eighteen [Member] | ' | ' |
Line Of Credit Facility [Line Items] | ' | ' |
Payments due related to an asset acquired | 65,000 | ' |
Interest_Rate_Swap_Narrative_D
Interest Rate Swap (Narrative) (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Derivative Instruments [Line Items] | ' |
Interest rate derivatives designated as cash flow hedges, notional amount | $640,000 |
Estimated reclassification as increase to interest expense | 2,575 |
Termination value of derivatives | $3,882 |
Interest_Rate_Swap_Fair_Value_
Interest Rate Swap (Fair Value Of Derivative Instrument) (Detail) (Designated as Hedging Instrument [Member], Interest Rate Swap [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives designated as hedging instruments: | ' | ' |
Fair Values of Derivative Instruments Asset (Liability) Derivatives | ($3,139) | ($1,676) |
Other Assets [Member] | ' | ' |
Derivatives designated as hedging instruments: | ' | ' |
Fair Values of Derivative Instruments Asset (Liability) Derivatives | 0 | 899 |
Accrued Expenses [Member] | ' | ' |
Derivatives designated as hedging instruments: | ' | ' |
Fair Values of Derivative Instruments Asset (Liability) Derivatives | -2,575 | -2,575 |
Other Liabilities [Member] | ' | ' |
Derivatives designated as hedging instruments: | ' | ' |
Fair Values of Derivative Instruments Asset (Liability) Derivatives | ($564) | $0 |
Interest_Rate_Swap_Effect_Of_D
Interest Rate Swap (Effect Of Derivative Instrument On The Accompanying Consolidated Statements Of Operations) (Detail) (Designated as Hedging Instrument [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivatives in Cash Flow Hedging Relationships | ' | ' | ' | ' |
Gain/ (loss) related to effective portion of derivative recognized in other comprehensive loss | ($1,897) | $4,358 | ($2,745) | $4,402 |
Gain/ (loss) related to effective portion of derivative reclassified from accumulated other comprehensive loss to interest expense | ($645) | ($645) | ($1,283) | ($1,283) |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value Of Financial Instruments Measured On A Recurring Basis) (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' |
Interest rate swaps | ($3,139) |
Contingent consideration obligations | -13,169 |
Total | -16,308 |
Fair Value Inputs Level 2 [Member] | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' |
Interest rate swaps | -3,139 |
Total | -3,139 |
Fair Value Inputs Level 3 [Member] | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' |
Contingent consideration obligations | -13,169 |
Total | ($13,169) |
Fair_Value_Measurements_Reconc
Fair Value Measurements (Reconciliation Of The Fair Value Of The Liabilities That Use Significant Unobservable Inputs (Level 3)) (Detail) (Fair Value Inputs Level 3 [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value Inputs Level 3 [Member] | ' | ' | ' | ' |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ($13,459) | ($237) | ($5,484) | ($296) |
Issuances of contingent consideration | 0 | -5,717 | -6,015 | -5,717 |
Settlement of contingent consideration | 0 | 67 | 0 | 126 |
Total changes included in contingent consideration | 290 | 0 | -1,670 | 0 |
Balance at end of period | ($13,169) | ($5,887) | ($13,169) | ($5,887) |
Fair_Value_Measurement_Assets_
Fair Value Measurement (Assets and Liabilities Measured at Fair Value on a Non-recurring Basis) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' |
Impairment of Long-lived assets to be Held and Used | $76,508 | $1,893 | $79,576 | $1,862 |
Fair Value Inputs Level 3 [Member] | ' | ' | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' |
Long-lived assets to be Held and Used, Relavant asset group | 13,066 | ' | 13,066 | ' |
Impairment of Long-lived assets to be Held and Used | 73,220 | ' | ' | ' |
Impairment of Long-lived assets to be Disposed Of | 3,040 | ' | ' | ' |
Fair Value Inputs Level 3 [Member] | Maximum [Member] | DCF [Member] | ' | ' | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' |
Probability of contract extension | 80.00% | ' | ' | ' |
Probability of new contract execution | 90.00% | ' | ' | ' |
Expected annual revenue range | 3,590 | ' | ' | ' |
Risk free interest rate | 1.60% | ' | ' | ' |
Fair Value Inputs Level 3 [Member] | Minimum [Member] | DCF [Member] | ' | ' | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' |
Probability of new contract execution | 20.00% | ' | ' | ' |
Expected annual revenue range | 3,080 | ' | ' | ' |
Fair Value Inputs Level 3 [Member] | Property and Equipment [Member] | ' | ' | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' |
Impairment of Long-lived assets to be Disposed Of | 930 | ' | ' | ' |
Fair Value Inputs Level 3 [Member] | Customer relationships [Member] | ' | ' | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' |
Impairment of Long-lived assets to be Disposed Of | $72,290 | ' | ' | ' |
Fair_Value_Measurements_Carryi
Fair Value Measurements (Carrying Amount And The Estimated Fair Value Of Financial Instruments) (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Estimated Fair Value Of Financial Instruments [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, Carrying Amount | $71,177 | $76,538 | $52,919 | $31,763 |
Accounts receivable, net of allowance for doubtfull accounts | 239,895 | 214,247 | ' | ' |
Cash and cash equivalents, Fair Value | 71,177 | ' | ' | ' |
Accounts receivable, Fair Value | 239,895 | ' | ' | ' |
Fair Value Inputs Level 1 [Member] | ' | ' | ' | ' |
Estimated Fair Value Of Financial Instruments [Line Items] | ' | ' | ' | ' |
Senior Credit Facilities, Carrying Amount (Level 1) | 1,256,307 | ' | ' | ' |
Senior Credit Facilities, Fair Value (Level 1) | 1,273,778 | ' | ' | ' |
Fair Value Inputs Level 2 [Member] | ' | ' | ' | ' |
Estimated Fair Value Of Financial Instruments [Line Items] | ' | ' | ' | ' |
Senior Notes, Carrying Amount (Level 2) | 733,689 | ' | ' | ' |
Senior Notes, Fair Value (Level 2) | $870,675 | ' | ' | ' |
Legal_Proceedings_Details
Legal Proceedings (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Legal Proceedings [Abstract] | ' |
Estimated loss from a potential underpayment of fees to a vendor | $7,500 |
Estimated loss from a potential underpayment of fees to a vendor accured in the current quarter | 2,500 |
Reasonable estimable range of possible loss, minimum | 7,500 |
Reasonable estimable range of possible loss, maximum | $8,000 |
Income_Taxes_Narrative_Detail
Income Taxes (Narrative) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Income Tax Disclosure [Line Items] | ' | ' | ' | ' |
Income tax expense (benefit) | $26,959 | $17,191 | $48,226 | $26,547 |
Effective income tax rate | ' | ' | 43.50% | 38.90% |
Tax_Receivable_Agreement_Oblig1
Tax Receivable Agreement Obligations To Related Parties (Narrative) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Percentage of cash savings | ' | ' | 85.00% | ' |
Retained ratio of tax savings | ' | ' | 15.00% | ' |
Cumulative payments under tax receivable agreement | $353,457 | ' | $353,457 | ' |
Initial fair value of tax receivable agreement | 156,238 | ' | 156,238 | ' |
Accretion expense | 4,844 | 7,459 | 4,768 | 11,599 |
Change in estimate effect on pretax income/loss | $4,570 | ' | $4,570 | ' |
Segment_Reporting_Revenue_And_
Segment Reporting (Revenue And Total Segment Contribution For The Reportable Segments) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | $336,158 | $305,283 | $655,365 | $604,642 |
Income (loss) before income taxes | -86,486 | -45,459 | -110,742 | -68,267 |
Interest expense, net | 36,543 | 37,974 | 73,106 | 79,389 |
Depreciation and amortization | 46,630 | 43,946 | 93,093 | 90,762 |
Accretion expense | 4,844 | 7,459 | 4,768 | 11,599 |
Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 217,923 | 200,284 | 424,495 | 397,131 |
Income (loss) before income taxes | 48,859 | 49,223 | 95,496 | 92,911 |
Interest expense, net | 0 | 2 | -9 | 2 |
Depreciation and amortization | 16,523 | 15,509 | 33,077 | 32,022 |
EBITDA | 65,382 | 64,734 | 128,564 | 124,935 |
Equity compensation | 241 | 309 | 515 | 580 |
Acquisition accounting adjustments | 28 | 87 | 67 | 171 |
Acquisition related costs | 451 | 451 | 908 | 937 |
Transaction-related costs and advisory fees | 0 | 0 | 0 | 0 |
Severance and retention costs | 103 | 146 | 59 | 130 |
Strategic initiatives, duplicative and transition costs | 59 | 40 | 550 | 350 |
Accretion expense | 0 | 0 | 0 | 0 |
Impairment of long lived assets | 0 | 0 | 0 | 0 |
Contingent Consideration | 0 | ' | 0 | ' |
Other | 2,524 | 26 | 2,613 | 117 |
EBITDA Adjustments | 3,406 | 1,059 | 4,712 | 2,285 |
Adjusted EBITDA | 68,788 | 65,793 | 133,276 | 127,220 |
Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 77,766 | 69,484 | 148,002 | 136,993 |
Income (loss) before income taxes | 24,341 | 18,113 | 41,231 | 34,935 |
Interest expense, net | 0 | 1 | 0 | 32 |
Depreciation and amortization | 11,972 | 10,927 | 23,948 | 24,029 |
EBITDA | 36,313 | 29,041 | 65,179 | 58,996 |
Equity compensation | 262 | 296 | 495 | 591 |
Acquisition accounting adjustments | 18 | 134 | 50 | 326 |
Acquisition related costs | 142 | 53 | 149 | 62 |
Transaction-related costs and advisory fees | 0 | 0 | 0 | 0 |
Severance and retention costs | 172 | 154 | 335 | 0 |
Strategic initiatives, duplicative and transition costs | 335 | 0 | 488 | 214 |
Accretion expense | 0 | 0 | 0 | 0 |
Impairment of long lived assets | 0 | 0 | 0 | 0 |
Contingent Consideration | 0 | ' | 0 | ' |
Other | 69 | 202 | 297 | 408 |
EBITDA Adjustments | 998 | 839 | 1,814 | 1,601 |
Adjusted EBITDA | 37,311 | 29,880 | 66,993 | 60,597 |
Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 30,070 | 25,498 | 61,340 | 50,147 |
Income (loss) before income taxes | -63,025 | 10,302 | -51,104 | 21,015 |
Interest expense, net | 2 | -3 | -1 | -5 |
Depreciation and amortization | 3,906 | 3,419 | 8,224 | 7,264 |
EBITDA | -59,117 | 13,718 | -42,881 | 28,274 |
Equity compensation | 63 | -6 | 122 | 78 |
Acquisition accounting adjustments | 167 | -21 | 394 | -41 |
Acquisition related costs | 0 | 5 | 18 | 6 |
Transaction-related costs and advisory fees | 0 | 0 | 0 | 0 |
Severance and retention costs | 4 | 234 | 717 | 558 |
Strategic initiatives, duplicative and transition costs | 626 | 269 | 5 | 234 |
Accretion expense | 0 | 0 | 0 | 0 |
Impairment of long lived assets | 73,220 | 0 | 73,220 | 0 |
Contingent Consideration | -290 | ' | 1,670 | ' |
Other | 803 | 3 | -842 | 6 |
EBITDA Adjustments | 74,593 | 484 | 75,304 | 841 |
Adjusted EBITDA | 15,476 | 14,202 | 32,423 | 29,115 |
All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 18,964 | 18,010 | 37,699 | 35,870 |
Income (loss) before income taxes | 9,735 | 8,453 | 19,428 | 16,530 |
Interest expense, net | 0 | 0 | 0 | 0 |
Depreciation and amortization | 59 | 22 | 118 | 45 |
EBITDA | 9,794 | 8,475 | 19,546 | 16,575 |
Equity compensation | 19 | 276 | 45 | 552 |
Acquisition accounting adjustments | 0 | 5 | 2 | 11 |
Acquisition related costs | 0 | 0 | 1 | 2 |
Transaction-related costs and advisory fees | 0 | 0 | 0 | 0 |
Severance and retention costs | 26 | 3 | 0 | 69 |
Strategic initiatives, duplicative and transition costs | 0 | 16 | 30 | 263 |
Accretion expense | 0 | 0 | 0 | 0 |
Impairment of long lived assets | 0 | 0 | 0 | 0 |
Contingent Consideration | 0 | ' | 0 | ' |
Other | 6 | 6 | 6 | 6 |
EBITDA Adjustments | 51 | 306 | 84 | 903 |
Adjusted EBITDA | 9,845 | 8,781 | 19,630 | 17,478 |
Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | -8,565 | -7,993 | -16,171 | -15,499 |
Income (loss) before income taxes | -106,396 | -131,550 | -215,793 | -233,658 |
Interest expense, net | 36,541 | 37,974 | 73,116 | 79,360 |
Depreciation and amortization | 14,170 | 14,069 | 27,726 | 27,402 |
EBITDA | -55,685 | -79,507 | -114,951 | -126,896 |
Equity compensation | 1,205 | 898 | 2,505 | 1,746 |
Acquisition accounting adjustments | 12 | 11 | -36 | 23 |
Acquisition related costs | 1,521 | 100 | 2,445 | 253 |
Transaction-related costs and advisory fees | 1,615 | 1,825 | 3,115 | 3,325 |
Severance and retention costs | 746 | 207 | 8,697 | 1,711 |
Strategic initiatives, duplicative and transition costs | 3,695 | 730 | 2,906 | 568 |
Accretion expense | 4,844 | 7,459 | 4,768 | 11,599 |
Impairment of long lived assets | 3,288 | 1,893 | 6,356 | 1,862 |
Contingent Consideration | 0 | ' | 0 | ' |
Other | -2,331 | 569 | 508 | 283 |
EBITDA Adjustments | 14,595 | 38,003 | 31,264 | 45,681 |
Adjusted EBITDA | -41,090 | -41,504 | -83,687 | -81,215 |
Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 336,158 | 305,283 | 655,365 | 604,642 |
Income (loss) before income taxes | -86,486 | -45,459 | -110,742 | -68,267 |
Interest expense, net | 36,543 | 37,974 | 73,106 | 79,389 |
Depreciation and amortization | 46,630 | 43,946 | 93,093 | 90,762 |
EBITDA | -3,313 | 36,461 | 55,457 | 101,884 |
Equity compensation | 1,790 | 1,773 | 3,682 | 3,547 |
Acquisition accounting adjustments | 225 | 216 | 477 | 490 |
Acquisition related costs | 2,114 | 609 | 3,521 | 1,260 |
Transaction-related costs and advisory fees | 1,615 | 1,825 | 3,115 | 3,325 |
Severance and retention costs | 1,051 | 744 | 9,808 | 2,468 |
Strategic initiatives, duplicative and transition costs | 4,715 | 1,055 | 3,979 | 1,629 |
Accretion expense | 4,844 | 7,459 | 4,768 | 11,599 |
Impairment of long lived assets | 76,508 | 1,893 | 79,576 | 1,862 |
Contingent Consideration | -290 | ' | 1,670 | ' |
Other | 1,071 | 806 | 2,582 | 820 |
EBITDA Adjustments | 93,643 | 40,691 | 113,178 | 51,311 |
Adjusted EBITDA | 90,330 | 77,152 | 168,635 | 153,195 |
Claims Management [Member] | Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 72,649 | 70,335 | 142,300 | 137,640 |
Claims Management [Member] | Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Claims Management [Member] | Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Claims Management [Member] | All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Claims Management [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Claims Management [Member] | Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 72,649 | 70,335 | 142,300 | 137,640 |
Payment Distribution Services [Member] | Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 73,264 | 64,603 | 140,063 | 130,232 |
Payment Distribution Services [Member] | Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Payment Distribution Services [Member] | Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Payment Distribution Services [Member] | All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Payment Distribution Services [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Payment Distribution Services [Member] | Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 73,264 | 64,603 | 140,063 | 130,232 |
Patient Billing And Payment Services [Member] | Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 69,627 | 63,553 | 137,560 | 126,485 |
Patient Billing And Payment Services [Member] | Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Patient Billing And Payment Services [Member] | Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Patient Billing And Payment Services [Member] | All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Patient Billing And Payment Services [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Patient Billing And Payment Services [Member] | Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 69,627 | 63,553 | 137,560 | 126,485 |
Revenue Cycle Technology [Member] | Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Revenue Cycle Technology [Member] | Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 32,221 | 29,701 | 62,912 | 58,099 |
Revenue Cycle Technology [Member] | Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Revenue Cycle Technology [Member] | All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Revenue Cycle Technology [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Revenue Cycle Technology [Member] | Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 32,221 | 29,701 | 62,912 | 58,099 |
Revenue Cycle Services [Member] | Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Revenue Cycle Services [Member] | Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 36,106 | 30,752 | 66,512 | 61,101 |
Revenue Cycle Services [Member] | Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Revenue Cycle Services [Member] | All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Revenue Cycle Services [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Revenue Cycle Services [Member] | Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 36,106 | 30,752 | 66,512 | 61,101 |
Physician Services [Member] | Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Physician Services [Member] | Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 9,439 | 9,031 | 18,578 | 17,793 |
Physician Services [Member] | Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Physician Services [Member] | All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Physician Services [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Physician Services [Member] | Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 9,439 | 9,031 | 18,578 | 17,793 |
Pharmacy [Member] | Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Pharmacy [Member] | Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Pharmacy [Member] | Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 29,966 | 25,413 | 61,159 | 49,967 |
Pharmacy [Member] | All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Pharmacy [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Pharmacy [Member] | Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 29,966 | 25,413 | 61,159 | 49,967 |
Channel Partner [Member] | Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Channel Partner [Member] | Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Channel Partner [Member] | Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Channel Partner [Member] | All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 10,719 | 9,801 | 21,507 | 19,459 |
Channel Partner [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | -6,078 | -6,115 | -11,418 | -12,545 |
Channel Partner [Member] | Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 4,641 | 3,686 | 10,089 | 6,914 |
Dental [Member] | Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Dental [Member] | Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Dental [Member] | Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Dental [Member] | All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 8,245 | 8,209 | 16,192 | 16,411 |
Dental [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Dental [Member] | Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 8,245 | 8,209 | 16,192 | 16,411 |
Inter Segment Revenues [Member] | Payer [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 2,383 | 1,793 | 4,572 | 2,774 |
Inter Segment Revenues [Member] | Provider [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Inter Segment Revenues [Member] | Pharmacy [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 104 | 85 | 181 | 180 |
Inter Segment Revenues [Member] | All Other [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | 0 | 0 | 0 | 0 |
Inter Segment Revenues [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | -2,487 | -1,878 | -4,753 | -2,954 |
Inter Segment Revenues [Member] | Consolidated [Member] | ' | ' | ' | ' |
Revenue from external customers | ' | ' | ' | ' |
Net revenue | $0 | $0 | $0 | $0 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive (Loss) Income (Summary Of Accumulated Other Comprehensive Income (Loss)) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Balance at January 1, 2014 | ' | ' | ($1,343) | ' |
Change associated with foreign currency translation | 100 | -64 | 27 | -99 |
Change associated with current period hedging | ' | ' | -2,142 | ' |
Reclassification into earnings | ' | ' | 1,283 | ' |
Balance at June 30, 2014 | -2,175 | ' | -2,175 | ' |
Foreign Currency Translation Adjustment [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Balance at January 1, 2014 | ' | ' | -264 | ' |
Change associated with foreign currency translation | ' | ' | 27 | ' |
Balance at June 30, 2014 | -237 | ' | -237 | ' |
Cash Flow Hedges [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Balance at January 1, 2014 | ' | ' | -1,079 | ' |
Change associated with foreign currency translation | ' | ' | 0 | ' |
Change associated with current period hedging | ' | ' | -2,142 | ' |
Reclassification into earnings | ' | ' | 1,283 | ' |
Balance at June 30, 2014 | ($1,938) | ' | ($1,938) | ' |
Supplemental_Condensed_Consoli2
Supplemental Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $71,177 | $76,538 | $52,919 | $31,763 |
Accounts receivable, net of allowance for doubtfull accounts | 239,895 | 214,247 | ' | ' |
Deferred income tax assets | 17,809 | 6,317 | ' | ' |
Prepaid expenses and other current assets | 33,474 | 27,019 | ' | ' |
Total current assets | 362,355 | 324,121 | ' | ' |
Property and equipment, net | 242,188 | 269,470 | ' | ' |
Goodwill | 1,508,593 | 1,502,434 | ' | ' |
Intangible assets, net | 1,513,894 | 1,632,688 | ' | ' |
Other assets, net | 20,845 | 19,169 | ' | ' |
Total assets | 3,647,875 | 3,747,882 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 9,245 | 8,367 | ' | ' |
Accrued expenses | 126,687 | 131,149 | ' | ' |
Deferred revenues | 10,001 | 10,881 | ' | ' |
Current portion of long-term debt | 23,565 | 31,330 | ' | ' |
Total current liabilities | 169,498 | 181,727 | ' | ' |
Long-term debt, excluding current portion | 2,000,548 | 1,999,026 | ' | ' |
Deferred income tax liabilities | 399,129 | 436,263 | ' | ' |
Tax receivable agreement obligations to related parties | 155,264 | 150,496 | ' | ' |
Other long-term liabilities | 13,333 | 11,824 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Equity | 910,103 | 968,546 | 997,205 | 1,032,151 |
Total liabilities and equity | 3,647,875 | 3,747,882 | ' | ' |
Emdeon Inc. [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 890 | 2,794 | 31,898 | 754 |
Accounts receivable, net of allowance for doubtfull accounts | ' | 0 | ' | ' |
Deferred income tax assets | ' | 0 | ' | ' |
Prepaid expenses and other current assets | 5,677 | 3,441 | ' | ' |
Total current assets | 6,567 | 6,235 | ' | ' |
Property and equipment, net | 8 | 10 | ' | ' |
Due from affiliates | ' | 0 | ' | ' |
Investment in consolidated subsidiaries | 1,706,862 | 1,764,213 | ' | ' |
Goodwill | ' | 0 | ' | ' |
Intangible assets, net | 138,000 | 142,500 | ' | ' |
Other assets, net | 131,059 | 64,536 | ' | ' |
Total assets | 1,982,496 | 1,977,494 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | ' | 0 | ' | ' |
Accrued expenses | 7,808 | 8,205 | ' | ' |
Deferred revenues | ' | 0 | ' | ' |
Current portion of long-term debt | 5,550 | 5,775 | ' | ' |
Total current liabilities | 13,358 | 13,980 | ' | ' |
Due to affiliates | 126,741 | 69,142 | ' | ' |
Long-term debt, excluding current portion | 776,466 | 775,330 | ' | ' |
Deferred income tax liabilities | ' | 0 | ' | ' |
Tax receivable agreement obligations to related parties | 155,264 | 150,496 | ' | ' |
Other long-term liabilities | ' | 0 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Equity | 910,103 | 968,546 | ' | ' |
Total liabilities and equity | 1,982,496 | 1,977,494 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 70,287 | 73,744 | 21,021 | 31,009 |
Accounts receivable, net of allowance for doubtfull accounts | 239,895 | 214,247 | ' | ' |
Deferred income tax assets | 17,809 | 6,317 | ' | ' |
Prepaid expenses and other current assets | 27,797 | 23,578 | ' | ' |
Total current assets | 355,788 | 317,886 | ' | ' |
Property and equipment, net | 242,180 | 269,460 | ' | ' |
Due from affiliates | 126,741 | 69,142 | ' | ' |
Investment in consolidated subsidiaries | ' | 0 | ' | ' |
Goodwill | 1,508,593 | 1,502,434 | ' | ' |
Intangible assets, net | 1,375,894 | 1,490,188 | ' | ' |
Other assets, net | 17,771 | 14,949 | ' | ' |
Total assets | 3,626,967 | 3,664,059 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 9,245 | 8,367 | ' | ' |
Accrued expenses | 118,879 | 122,944 | ' | ' |
Deferred revenues | 10,001 | 10,881 | ' | ' |
Current portion of long-term debt | 18,015 | 25,555 | ' | ' |
Total current liabilities | 156,140 | 167,747 | ' | ' |
Due to affiliates | ' | 0 | ' | ' |
Long-term debt, excluding current portion | 1,224,082 | 1,223,696 | ' | ' |
Deferred income tax liabilities | 527,114 | 496,579 | ' | ' |
Tax receivable agreement obligations to related parties | ' | 0 | ' | ' |
Other long-term liabilities | 12,769 | 11,824 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Equity | 1,706,862 | 1,764,213 | ' | ' |
Total liabilities and equity | 3,626,967 | 3,664,059 | ' | ' |
Consolidating Adjustments [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Accounts receivable, net of allowance for doubtfull accounts | ' | 0 | ' | ' |
Deferred income tax assets | ' | 0 | ' | ' |
Prepaid expenses and other current assets | ' | 0 | ' | ' |
Total current assets | ' | 0 | ' | ' |
Property and equipment, net | ' | 0 | ' | ' |
Due from affiliates | -126,741 | -69,142 | ' | ' |
Investment in consolidated subsidiaries | -1,706,862 | -1,764,213 | ' | ' |
Goodwill | ' | 0 | ' | ' |
Intangible assets, net | ' | 0 | ' | ' |
Other assets, net | -127,985 | -60,316 | ' | ' |
Total assets | -1,961,588 | -1,893,671 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | ' | 0 | ' | ' |
Accrued expenses | ' | 0 | ' | ' |
Deferred revenues | ' | 0 | ' | ' |
Current portion of long-term debt | ' | 0 | ' | ' |
Total current liabilities | ' | 0 | ' | ' |
Due to affiliates | -126,741 | -69,142 | ' | ' |
Long-term debt, excluding current portion | ' | 0 | ' | ' |
Deferred income tax liabilities | -127,985 | -60,316 | ' | ' |
Tax receivable agreement obligations to related parties | ' | 0 | ' | ' |
Other long-term liabilities | ' | 0 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Equity | -1,706,862 | -1,764,213 | ' | ' |
Total liabilities and equity | -1,961,588 | -1,893,671 | ' | ' |
Consolidated [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 71,177 | 76,538 | 52,919 | 31,763 |
Accounts receivable, net of allowance for doubtfull accounts | 239,895 | 214,247 | ' | ' |
Deferred income tax assets | 17,809 | 6,317 | ' | ' |
Prepaid expenses and other current assets | 33,474 | 27,019 | ' | ' |
Total current assets | 362,355 | 324,121 | ' | ' |
Property and equipment, net | 242,188 | 269,470 | ' | ' |
Due from affiliates | ' | 0 | ' | ' |
Investment in consolidated subsidiaries | ' | 0 | ' | ' |
Goodwill | 1,508,593 | 1,502,434 | ' | ' |
Intangible assets, net | 1,513,894 | 1,632,688 | ' | ' |
Other assets, net | 20,845 | 19,169 | ' | ' |
Total assets | 3,647,875 | 3,747,882 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 9,245 | 8,367 | ' | ' |
Accrued expenses | 126,687 | 131,149 | ' | ' |
Deferred revenues | 10,001 | 10,881 | ' | ' |
Current portion of long-term debt | 23,565 | 31,330 | ' | ' |
Total current liabilities | 169,498 | 181,727 | ' | ' |
Due to affiliates | ' | 0 | ' | ' |
Long-term debt, excluding current portion | 2,000,548 | 1,999,026 | ' | ' |
Deferred income tax liabilities | 399,129 | 436,263 | ' | ' |
Tax receivable agreement obligations to related parties | 155,264 | 150,496 | ' | ' |
Other long-term liabilities | 13,333 | 11,824 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Equity | 910,103 | 968,546 | ' | ' |
Total liabilities and equity | $3,647,875 | $3,747,882 | ' | ' |
Supplemental_Condensed_Consoli3
Supplemental Condensed Consolidating Financial Information (Condensed Consolidating Statement Of Operations) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Schedule Of Condensed Consolidating Statement Of Operations [Line Items] | ' | ' | ' | ' |
Revenue | $336,158 | $305,283 | $655,365 | $604,642 |
Costs and expenses: | ' | ' | ' | ' |
Cost of operations (exclusive of depreciation and amortization below) | 201,398 | 188,026 | 395,538 | 371,449 |
Development and engineering | 7,380 | 7,626 | 16,616 | 15,324 |
Sales, marketing, general and administrative | 53,602 | 40,658 | 105,711 | 79,364 |
Depreciation and amortization | 46,630 | 43,946 | 93,093 | 90,762 |
Accretion | 4,844 | 7,459 | 4,768 | 11,599 |
Impairment of long-lived assets | 76,508 | 1,893 | 79,576 | 1,862 |
Operating income (loss) | -54,204 | 15,675 | -39,937 | 34,282 |
Interest expense, net | 36,543 | 37,974 | 73,106 | 79,389 |
Contingent Consideration | -290 | ' | 1,670 | ' |
Other | -3,971 | ' | -3,971 | ' |
Income (loss) before income tax provision (benefit) | -86,486 | -45,459 | -110,742 | -68,267 |
Income tax provision (benefit) | -26,959 | -17,191 | -48,226 | -26,547 |
Net income (loss) | -59,527 | -28,268 | -62,516 | -41,720 |
Emdeon Inc. [Member] | ' | ' | ' | ' |
Costs and expenses: | ' | ' | ' | ' |
Sales, marketing, general and administrative | 5,472 | 2,732 | 12,488 | 5,026 |
Depreciation and amortization | 2,251 | 2,251 | 4,502 | 4,502 |
Accretion | 4,844 | 7,459 | 4,768 | 11,599 |
Operating income (loss) | -12,567 | -12,442 | -21,758 | -21,127 |
Equity in earnings of consolidated subsidiaries | 39,723 | 5,525 | -61,129 | 2,451 |
Interest expense, net | 23,417 | 23,489 | 46,807 | 47,041 |
Loss on extinguishment of debt | ' | ' | ' | 485 |
Other | -114 | ' | -114 | ' |
Income (loss) before income tax provision (benefit) | -75,593 | -41,941 | -129,580 | -66,202 |
Income tax provision (benefit) | -16,066 | -13,673 | -67,064 | -24,482 |
Net income (loss) | -59,527 | -28,268 | -62,516 | -41,720 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Schedule Of Condensed Consolidating Statement Of Operations [Line Items] | ' | ' | ' | ' |
Revenue | 336,158 | 305,283 | 655,365 | 604,642 |
Costs and expenses: | ' | ' | ' | ' |
Cost of operations (exclusive of depreciation and amortization below) | 201,398 | 188,026 | 395,538 | 371,449 |
Development and engineering | 7,380 | 7,626 | 16,616 | 15,324 |
Sales, marketing, general and administrative | 48,130 | 37,926 | 93,223 | 74,338 |
Depreciation and amortization | 44,379 | 41,695 | 88,591 | 86,260 |
Impairment of long-lived assets | 76,508 | 1,893 | 79,576 | 1,862 |
Operating income (loss) | -41,637 | 28,117 | -18,179 | 55,409 |
Interest expense, net | 13,126 | 14,485 | 26,299 | 32,348 |
Loss on extinguishment of debt | ' | 1,893 | ' | 22,675 |
Contingent Consideration | -290 | ' | 1,670 | ' |
Other | -3,857 | ' | -3,857 | ' |
Income (loss) before income tax provision (benefit) | -50,616 | -9,043 | -42,291 | 386 |
Income tax provision (benefit) | -10,893 | -3,518 | 18,838 | -2,065 |
Net income (loss) | -39,723 | -5,525 | -61,129 | 2,451 |
Consolidating Adjustments [Member] | ' | ' | ' | ' |
Costs and expenses: | ' | ' | ' | ' |
Equity in earnings of consolidated subsidiaries | -39,723 | -5,525 | 61,129 | -2,451 |
Income (loss) before income tax provision (benefit) | 39,723 | 5,525 | 61,129 | -2,451 |
Net income (loss) | 39,723 | 5,525 | 61,129 | -2,451 |
Consolidated [Member] | ' | ' | ' | ' |
Schedule Of Condensed Consolidating Statement Of Operations [Line Items] | ' | ' | ' | ' |
Revenue | 336,158 | 305,283 | 655,365 | 604,642 |
Costs and expenses: | ' | ' | ' | ' |
Cost of operations (exclusive of depreciation and amortization below) | 201,398 | 188,026 | 395,538 | 371,449 |
Development and engineering | 7,380 | 7,626 | 16,616 | 15,324 |
Sales, marketing, general and administrative | 53,602 | 40,658 | 105,711 | 79,364 |
Depreciation and amortization | 46,630 | 43,946 | 93,093 | 90,762 |
Accretion | 4,844 | 7,459 | 4,768 | 11,599 |
Impairment of long-lived assets | 76,508 | 1,893 | 79,576 | 1,862 |
Operating income (loss) | -54,204 | 15,675 | -39,937 | 34,282 |
Interest expense, net | 36,543 | 37,974 | 73,106 | 79,389 |
Loss on extinguishment of debt | ' | 1,893 | ' | 23,160 |
Contingent Consideration | -290 | ' | 1,670 | ' |
Other | -3,971 | ' | -3,971 | ' |
Income (loss) before income tax provision (benefit) | -86,486 | -45,459 | -110,742 | -68,267 |
Income tax provision (benefit) | -26,959 | -17,191 | -48,226 | -26,547 |
Net income (loss) | ($59,527) | ($28,268) | ($62,516) | ($41,720) |
Supplemental_Condensed_Consoli4
Supplemental Condensed Consolidating Financial Information (Condensed Consolidating Statement Of Comprehensive Income (Loss)) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Net income (loss) | ($59,527) | ($28,268) | ($62,516) | ($41,720) |
Other comprehensive income (loss): | ' | ' | ' | ' |
Changes in fair value of interest rate swap, net of taxes | -735 | 3,147 | -859 | 3,575 |
Foreign currency translation adjustment | 100 | -64 | 27 | -99 |
Other comprehensive income (loss) | -635 | 3,083 | -832 | 3,476 |
Total comprehensive income (loss) | -60,162 | -25,185 | -63,348 | -38,244 |
Emdeon Inc. [Member] | ' | ' | ' | ' |
Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Net income (loss) | -59,527 | -28,268 | -62,516 | -41,720 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Changes in fair value of interest rate swap, net of taxes | -735 | 3,147 | -859 | 3,575 |
Foreign currency translation adjustment | 0 | 0 | 0 | 0 |
Equity in other comprehensive earnings | 100 | -64 | 27 | -99 |
Other comprehensive income (loss) | -635 | 3,083 | -832 | 3,476 |
Total comprehensive income (loss) | -60,162 | -25,185 | -63,348 | -38,244 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Net income (loss) | -39,723 | -5,525 | -61,129 | 2,451 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Changes in fair value of interest rate swap, net of taxes | 0 | 0 | 0 | 0 |
Foreign currency translation adjustment | 100 | -64 | 27 | -99 |
Equity in other comprehensive earnings | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 100 | -64 | 27 | -99 |
Total comprehensive income (loss) | -39,623 | -5,589 | -61,102 | 2,352 |
Consolidating Adjustments [Member] | ' | ' | ' | ' |
Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Net income (loss) | 39,723 | 5,525 | 61,129 | -2,451 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Changes in fair value of interest rate swap, net of taxes | 0 | 0 | 0 | 0 |
Foreign currency translation adjustment | 0 | 0 | 0 | 0 |
Equity in other comprehensive earnings | -100 | 64 | -27 | 99 |
Other comprehensive income (loss) | -100 | 64 | -27 | 99 |
Total comprehensive income (loss) | 39,623 | 5,589 | 61,102 | -2,352 |
Consolidated [Member] | ' | ' | ' | ' |
Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Net income (loss) | -59,527 | -28,268 | -62,516 | -41,720 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Changes in fair value of interest rate swap, net of taxes | -735 | 3,147 | -859 | 3,575 |
Foreign currency translation adjustment | 100 | -64 | 27 | -99 |
Equity in other comprehensive earnings | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | -635 | 3,083 | -832 | 3,476 |
Total comprehensive income (loss) | ($60,162) | ($25,185) | ($63,348) | ($38,244) |
Supplemental_Condensed_Consoli5
Supplemental Condensed Consolidating Financial Information (Condensed Consolidating Statement Of Cash Flows) (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Operating activities | ' | ' |
Net income (loss) | ($62,516) | ($41,720) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 93,093 | 90,762 |
Accretion | 4,768 | 11,599 |
Equity compensation expense | 3,682 | 3,547 |
Deferred income tax benefit | -48,695 | -27,451 |
Amortization of debt discount and issuance costs | 3,843 | 4,717 |
Contingent Consideration | 1,670 | ' |
Loss on extinguishment of debt | ' | 22,828 |
Impairment of long-lived assets | 79,576 | 1,862 |
Other | 2,029 | ' |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -25,648 | -10,208 |
Prepaid expenses and other | -7,251 | -697 |
Accounts payable | 1,237 | 5,498 |
Accrued expenses, deferred revenue, and other liabilities | -7,897 | 23,539 |
Tax receivable agreement obligations to related parties | ' | -104 |
Net cash provided by (used in) operating activities | 33,833 | 84,172 |
Investing activities | ' | ' |
Purchases of property and equipment | -25,952 | -33,246 |
Payments for acquisitions, net of cash acquired | -779 | -18,291 |
Proceeds from sale of cost method investment | 36 | ' |
Net cash provided by (used in) investing activities | -26,695 | -51,537 |
Financing activities | ' | ' |
Debt principal payments | -7,669 | -6,472 |
Payment of debt assumed from acquisition | 1,877 | ' |
Payment of loan costs | ' | -2,178 |
Repayment of deferred financing arrangements | -4,176 | -1,844 |
Repurchase of Parent common stock | -869 | -249 |
Capital contribution from Parent | 2,092 | ' |
Other | ' | -735 |
Net cash provided by (used in) financing activities | -12,499 | -11,479 |
Net increase (decrease) in cash and cash equivalents | -5,361 | 21,156 |
Cash and cash equivalents at beginning of period | 76,538 | 31,763 |
Cash and cash equivalents at end of period | 71,177 | 52,919 |
Emdeon Inc. [Member] | ' | ' |
Operating activities | ' | ' |
Net income (loss) | -62,516 | -41,720 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 4,502 | 4,502 |
Accretion | 4,768 | 11,599 |
Equity compensation expense | 182 | 88 |
Deferred income tax benefit | -67,669 | -24,482 |
Amortization of debt discount and issuance costs | 1,319 | 1,243 |
Loss on extinguishment of debt | ' | -485 |
Equity in earnings of consolidated subsidiaries | 61,129 | -2,451 |
Changes in operating assets and liabilities: | ' | ' |
Prepaid expenses and other | -1,496 | -1,022 |
Accrued expenses, deferred revenue, and other liabilities | -541 | 31,499 |
Tax receivable agreement obligations to related parties | ' | -104 |
Due to/from affiliates | 57,599 | 1,375 |
Net cash provided by (used in) operating activities | -2,723 | -18,995 |
Investing activities | ' | ' |
Proceeds from sale of cost method investment | 36 | ' |
Investment in subsidiaries, net | -332 | 50,281 |
Net cash provided by (used in) investing activities | -296 | 50,281 |
Financing activities | ' | ' |
Debt principal payments | -162 | -142 |
Repurchase of Parent common stock | -815 | ' |
Capital contribution from Parent | 2,092 | ' |
Net cash provided by (used in) financing activities | 1,115 | -142 |
Net increase (decrease) in cash and cash equivalents | -1,904 | 31,144 |
Cash and cash equivalents at beginning of period | 2,794 | 754 |
Cash and cash equivalents at end of period | 890 | 31,898 |
Guarantor Subsidiaries [Member] | ' | ' |
Operating activities | ' | ' |
Net income (loss) | -61,129 | 2,451 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 88,591 | 86,260 |
Equity compensation expense | 3,500 | 3,459 |
Deferred income tax benefit | 18,974 | -2,969 |
Amortization of debt discount and issuance costs | 2,524 | 3,474 |
Contingent Consideration | 1,670 | ' |
Loss on extinguishment of debt | ' | -22,675 |
Impairment of long-lived assets | 79,576 | 1,862 |
Other | -2,029 | ' |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -25,648 | -10,208 |
Prepaid expenses and other | -5,755 | 325 |
Accounts payable | 1,237 | 5,498 |
Accrued expenses, deferred revenue, and other liabilities | -7,356 | -7,960 |
Due to/from affiliates | -57,599 | -1,375 |
Net cash provided by (used in) operating activities | 36,556 | 103,167 |
Investing activities | ' | ' |
Purchases of property and equipment | -25,952 | -33,246 |
Payments for acquisitions, net of cash acquired | -779 | -18,291 |
Net cash provided by (used in) investing activities | -26,731 | -51,537 |
Financing activities | ' | ' |
Distributions to Emdeon Inc., net | 332 | -50,281 |
Debt principal payments | -7,507 | -6,330 |
Payment of debt assumed from acquisition | -1,877 | ' |
Payment of loan costs | ' | -2,178 |
Repayment of deferred financing arrangements | 4,176 | 1,844 |
Repurchase of Parent common stock | -54 | -250 |
Other | ' | -735 |
Net cash provided by (used in) financing activities | -13,282 | -61,618 |
Net increase (decrease) in cash and cash equivalents | -3,457 | -9,988 |
Cash and cash equivalents at beginning of period | 73,744 | 31,009 |
Cash and cash equivalents at end of period | 70,287 | 21,021 |
Consolidating Adjustments [Member] | ' | ' |
Operating activities | ' | ' |
Net income (loss) | 61,129 | -2,451 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Equity in earnings of consolidated subsidiaries | -61,129 | 2,451 |
Investing activities | ' | ' |
Investment in subsidiaries, net | 332 | -50,281 |
Net cash provided by (used in) investing activities | 332 | -50,281 |
Financing activities | ' | ' |
Distributions to Emdeon Inc., net | -332 | 50,281 |
Net cash provided by (used in) financing activities | -332 | 50,281 |
Consolidated [Member] | ' | ' |
Operating activities | ' | ' |
Net income (loss) | -62,516 | -41,720 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 93,093 | 90,762 |
Accretion | 4,768 | 11,599 |
Equity compensation expense | 3,682 | 3,547 |
Deferred income tax benefit | -48,695 | -27,451 |
Amortization of debt discount and issuance costs | 3,843 | 4,717 |
Contingent Consideration | 1,670 | ' |
Loss on extinguishment of debt | ' | -23,160 |
Impairment of long-lived assets | 79,576 | 1,862 |
Other | -2,029 | ' |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -25,648 | -10,208 |
Prepaid expenses and other | -7,251 | -697 |
Accounts payable | 1,237 | 5,498 |
Accrued expenses, deferred revenue, and other liabilities | -7,897 | 23,539 |
Tax receivable agreement obligations to related parties | ' | -104 |
Net cash provided by (used in) operating activities | 33,833 | 84,172 |
Investing activities | ' | ' |
Purchases of property and equipment | -25,952 | -33,246 |
Payments for acquisitions, net of cash acquired | -779 | -18,291 |
Proceeds from sale of cost method investment | 36 | ' |
Net cash provided by (used in) investing activities | -26,695 | -51,537 |
Financing activities | ' | ' |
Debt principal payments | -7,669 | -6,472 |
Payment of debt assumed from acquisition | -1,877 | ' |
Payment of loan costs | ' | -2,178 |
Repayment of deferred financing arrangements | 4,176 | 1,844 |
Repurchase of Parent common stock | -869 | -250 |
Capital contribution from Parent | 2,092 | ' |
Other | ' | -735 |
Net cash provided by (used in) financing activities | -12,499 | -11,479 |
Net increase (decrease) in cash and cash equivalents | -5,361 | 21,156 |
Cash and cash equivalents at beginning of period | 76,538 | 31,763 |
Cash and cash equivalents at end of period | $71,177 | $52,919 |
Subsequent_Events_Details
Subsequent Events (Details) (Capario Inc [Member], Subsequent Event [Member], USD $) | 1 Months Ended |
In Thousands, unless otherwise specified | Jul. 31, 2012 |
Subsequent Event [Line Items] | ' |
Consideration transferred consisting of cash and a working capital settlement | $89,762 |
Debt incurred prior to the acquisition | 21,474 |
Transaction related expensese incurred prior to the acquisition | 6,123 |
Revolving Credit Facility [Member] | ' |
Subsequent Event [Line Items] | ' |
Amount was financed with cash on hand and borrowings | $65,000 |