Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Nov. 12, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'Lantheus Medical Imaging, Inc. | ' |
Entity Central Index Key | '0001500157 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 1,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Revenues | $75,682 | $70,385 | $224,631 | $212,004 |
Cost of goods sold | 44,044 | 46,664 | 131,873 | 144,524 |
Gross profit | 31,638 | 23,721 | 92,758 | 67,480 |
Operating expenses | ' | ' | ' | ' |
Sales and marketing expenses | 8,327 | 8,476 | 27,227 | 27,266 |
General and administrative expenses | 8,722 | 7,132 | 26,564 | 25,678 |
Research and development expenses | 3,049 | 5,893 | 8,958 | 25,428 |
Impairment of land | ' | 6,788 | ' | 6,788 |
Total operating expenses | 20,098 | 28,289 | 62,749 | 85,160 |
Operating income (loss) | 11,540 | -4,568 | 30,009 | -17,680 |
Interest expense, net | -10,585 | -11,035 | -31,704 | -32,323 |
Other income (expense), net | 441 | 260 | -148 | 894 |
Income (loss) before income taxes | 1,396 | -15,343 | -1,843 | -49,109 |
(Benefit) provision for income taxes | -56 | -279 | -374 | 267 |
Net income (loss) | 1,452 | -15,064 | -1,469 | -49,376 |
Foreign currency translation | -671 | 417 | -339 | -1,176 |
Total comprehensive income (loss) | $781 | ($14,647) | ($1,808) | ($50,552) |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $25,205 | $16,669 |
Accounts receivable, net of allowance of $425 and $290 | 41,160 | 38,910 |
Inventory | 16,425 | 18,310 |
Income tax receivable | 448 | 325 |
Deferred tax assets | 12 | 18 |
Other current assets | 4,181 | 3,087 |
Total current assets | 87,431 | 77,319 |
Property, plant and equipment, net | 96,072 | 97,653 |
Capitalized software development costs, net | 1,829 | 1,470 |
Intangibles, net | 29,203 | 34,998 |
Goodwill | 15,714 | 15,714 |
Deferred financing costs | 7,969 | 9,639 |
Deferred tax assets | 45 | 15 |
Other long-term assets | 19,791 | 22,577 |
Total assets | 258,054 | 259,385 |
Current liabilities | ' | ' |
Line of credit | 8,000 | 8,000 |
Accounts payable | 15,383 | 18,103 |
Accrued expenses and other liabilities | 35,088 | 25,492 |
Deferred tax liability | 57 | 57 |
Deferred revenue | 1,063 | 3,979 |
Total current liabilities | 59,591 | 55,631 |
Asset retirement obligation | 7,244 | 6,385 |
Long-term debt, net | 399,220 | 399,037 |
Deferred tax liability | 8 | 12 |
Other long-term liabilities | 32,407 | 35,408 |
Total liabilities | 498,470 | 496,473 |
Commitments and contingencies (See Note 13) | ' | ' |
Stockholder's deficit | ' | ' |
Common stock ($0.001 par value, 10,000 shares authorized; 1 share issued and outstanding) | ' | ' |
Due from parent | -3,561 | -1,259 |
Additional paid-in capital | 3,685 | 2,903 |
Accumulated deficit | -239,807 | -238,338 |
Accumulated other comprehensive loss | -733 | -394 |
Total stockholder's deficit | -240,416 | -237,088 |
Total liabilities and stockholder's deficit | $258,054 | $259,385 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Accounts receivable, allowance | $425 | $290 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 10,000 | 10,000 |
Common stock, share issued | 1 | 1 |
Common stock, share outstanding | 1 | 1 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Stockholder's Deficit (USD $) | Total | Common Stock [Member] | Due from Parent [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, except Share data | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |
Balance at Dec. 31, 2012 | ($174,353) | ' | ($1,353) | $2,325 | ($176,660) | $1,335 |
Balance, (in shares) at Dec. 31, 2012 | ' | 1 | ' | ' | ' | ' |
Net loss | -61,678 | ' | ' | ' | -61,678 | ' |
Payments from parent | 94 | ' | 94 | ' | ' | ' |
Foreign currency translation | -1,729 | ' | ' | ' | ' | -1,729 |
Stock-based compensation | 578 | ' | ' | 578 | ' | ' |
Balance at Dec. 31, 2013 | -237,088 | ' | -1,259 | 2,903 | -238,338 | -394 |
Balance, (in shares) at Dec. 31, 2013 | ' | 1 | ' | ' | ' | ' |
Net loss | -1,469 | ' | ' | ' | -1,469 | ' |
Increase in amounts due from parent | -2,302 | ' | -2,302 | ' | ' | ' |
Foreign currency translation | -339 | ' | ' | ' | ' | -339 |
Stock-based compensation | 782 | ' | ' | 782 | ' | ' |
Balance at Sep. 30, 2014 | ($240,416) | ' | ($3,561) | $3,685 | ($239,807) | ($733) |
Balance, (in shares) at Sep. 30, 2014 | ' | 1 | ' | ' | ' | ' |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash flows from operating activities | ' | ' |
Net loss | ($1,469) | ($49,376) |
Adjustments to reconcile net loss to cash flow from operating activities | ' | ' |
Depreciation and amortization | 14,808 | 21,694 |
Provision for excess and obsolete inventory | 1,529 | 2,488 |
Impairment of land | ' | 6,788 |
Impairment of customer relationship intangible asset | ' | 1,034 |
Stock-based compensation | 782 | 735 |
Deferred income taxes | -30 | -315 |
Other | -72 | 267 |
Increase (decrease) in cash from operating assets and liabilities | ' | ' |
Accounts receivable | -2,383 | 3,864 |
Inventory | 668 | -1,871 |
Other current assets | -1,329 | 1,443 |
Accounts payable | -2,971 | 556 |
Accrued expenses and other liabilities | 8,979 | 4,660 |
Income taxes | -123 | 299 |
Deferred revenue | -2,941 | -4,088 |
Cash provided by (used in) operating activities | 15,448 | -11,822 |
Cash flows from investing activities | ' | ' |
Capital expenditures | -5,303 | -3,711 |
Proceeds from sale of property, plant and equipment | 227 | ' |
Redemption of certificate of deposit-restricted | 228 | ' |
Cash used in investing activities | -4,848 | -3,711 |
Cash flows from financing activities | ' | ' |
Proceeds from line of credit | 5,500 | 8,000 |
Payments on line of credit | -5,500 | ' |
Payments on note payable | -52 | -1,174 |
Deferred financing costs | -139 | -1,188 |
Payments (to)/from parent | -1,741 | 111 |
Cash (used in) provided by financing activities | -1,932 | 5,749 |
Effect of foreign exchange rate on cash | -132 | -949 |
Increase (decrease) in cash and cash equivalents | 8,536 | -10,733 |
Cash and cash equivalents, beginning of period | 16,669 | 31,595 |
Cash and cash equivalents, end of period | 25,205 | 20,862 |
Supplemental disclosure of cash flow information | ' | ' |
Interest paid | 19,692 | 19,639 |
Income taxes paid, net | 375 | -30 |
Noncash investing and financing activities | ' | ' |
Property, plant and equipment included in accounts payable and accrued expenses and other liabilities | 1,488 | 809 |
Expenses to be paid on behalf of parent included in accounts payable and accrued expenses and other liabilities | $561 | ' |
Business_Overview
Business Overview | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Accounting Policies [Abstract] | ' | |||
Business Overview | ' | |||
1. Business Overview | ||||
Overview | ||||
The Company develops, manufactures, sells and distributes innovative diagnostic medical imaging agents and products that assist clinicians in the diagnosis of cardiovascular and other diseases. The Company’s commercial products are used by nuclear physicians, cardiologists, radiologists, internal medicine physicians, technologists and sonographers working in a variety of clinical settings. The Company sells its products to radiopharmacies, hospitals, clinics, group practices, integrated delivery networks, group purchasing organizations and, in certain circumstances, wholesalers. The Company sells its products globally and has operations in the United States, Puerto Rico, Canada and Australia and distribution relationships in Europe, Asia Pacific and Latin America. | ||||
The Company’s portfolio of 10 commercial products is diversified across a range of imaging modalities. The Company’s imaging agents include medical radiopharmaceuticals (including technetium generators) and contrast agents, including the following: | ||||
• | DEFINITY is the leading ultrasound contrast imaging agent used by cardiologists and sonographers during cardiac ultrasound, or echocardiography, exams based on revenue and usage. DEFINITY is an injectable agent that, in the United States, is indicated for use in patients with suboptimal echocardiograms to assist in the visualization of the left ventricle, the main pumping chamber of the heart. The use of DEFINITY in echocardiography allows physicians to significantly improve their assessment of the function of the left ventricle. | |||
• | TechneLite is a self-contained system, or generator, of technetium (Tc99m), a radioisotope with a six hour half-life, used by radiopharmacies to prepare various nuclear imaging agents. | |||
• | Xenon Xe 133 Gas is a radiopharmaceutical gas that is inhaled and used to assess pulmonary function and also to image blood flow. | |||
• | Cardiolite is an injectable, technetium-labeled imaging agent, also known by its generic name sestamibi, used with Single Photon Emission Computed Tomography, or SPECT, technology in myocardial perfusion imaging, or MPI, procedures that assess blood flow distribution to the heart. | |||
• | Neurolite is an injectable, technetium-labeled imaging agent used with SPECT technology to identify the area within the brain where blood flow has been blocked or reduced due to stroke. | |||
In the United States, the Company sells DEFINITY through its sales team that calls on healthcare providers in the echocardiography space, as well as group purchasing organizations and integrated delivery networks. The Company’s radiopharmaceutical products are primarily distributed through approximately 350 radiopharmacies owned or controlled by third parties. In Canada, Puerto Rico and Australia, the Company owns nine radiopharmacies and sells its own radiopharmaceuticals, as well as others, directly to end users. In Europe, Asia Pacific and Latin America, the Company utilizes distributor relationships to market, sell and distribute its products. | ||||
Basis of Consolidation and Presentation | ||||
The financial statements have been prepared in United States dollars, in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. | ||||
In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the Company’s financial statements for interim periods in accordance with U.S. GAAP. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, or the SEC. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s consolidated financial statements and the accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, or the 2013 Form 10-K. The Company’s accounting policies are described in the “Notes to Consolidated Financial Statements” in the 2013 Form 10-K. There were no changes to the Company’s accounting policies since December 31, 2013. The year-end condensed consolidated balance sheet data presented for comparative purposes was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The results of operations for the three and nine months ended September 30, 2014 are not necessarily indicative of the operating results for the full year or for any other subsequent interim period. | ||||
Recent Events | ||||
The Company incurred a net loss of $1.5 million during the nine months ended September 30, 2014 and had an accumulated deficit of $239.8 million at September 30, 2014. During 2013, the Company relied on Ben Venue Laboratories, Inc., or BVL, as its sole manufacturer of Neurolite and as one of its two manufacturers of DEFINITY and Cardiolite. Following extended operational and regulatory challenges at BVL’s Bedford, Ohio facility, as of November 15, 2013, BVL ceased manufacturing for the Company any DEFINITY, Cardiolite or Neurolite product. BVL has since released for commercial distribution all of the Company’s remaining manufactured product that was awaiting BVL quality approval. The supply challenges with BVL in recent years have had a negative impact on the Company’s results. The Company has taken specific steps to address the supply chain risks and reduce discretionary spend. | ||||
Following extensive technology transfer activities, the Company currently relies on Jubilant HollisterStier, or JHS, as its sole source manufacturer of DEFINITY and evacuation vials for TechneLite. The Company has additional ongoing technology transfer activities at JHS for its Neurolite product supply. In the meantime, the Company has no other currently active supplier of Neurolite, and its Cardiolite product supply is currently manufactured by a single manufacturer. | ||||
The Company is also pursuing new manufacturing relationships to establish and secure additional or alternative suppliers for its commercial products. On November 12, 2013, the Company entered into a Manufacturing and Supply Agreement with Pharmalucence to manufacture and supply DEFINITY. The Company currently believes that Pharmalucence will obtain FDA approval to manufacture DEFINITY in 2015. | ||||
Based on current projections, the Company believes that it will have sufficient supply of DEFINITY from JHS and remaining BVL inventory to meet expected demand and sufficient Cardiolite product supply from its current manufacturer to meet expected demand. The Company also currently anticipates that it will have sufficient BVL-manufactured Neurolite supply for the U.S. market to last until Neurolite technology transfer and U.S. regulatory approval at JHS are completed. | ||||
If JHS is not able to continue to manufacture and release adequate product supply on a timely and consistent basis, the Company is not successful with the remainder of its JHS technology transfer programs and cannot obtain adequate supply from JHS, or the Company is unable to continue to grow DEFINITY sales, then the Company will need to implement additional expense reductions, such as a delay or elimination of discretionary spending in all functional areas as well as in other operating and strategic initiatives. | ||||
During 2013 and 2014, the Company has utilized its line of credit as a source of liquidity from time to time. Borrowing capacity under the revolving credit facility, or the Facility, is calculated by reference to a borrowing base consisting of a percentage of certain eligible accounts receivable, inventory and machinery and equipment minus any reserves, or the Borrowing Base. If the Company is not successful in achieving its forecasted results, the Company’s accounts receivable and inventory could be negatively affected, thus reducing the Borrowing Base and limiting the Company’s borrowing capacity. As of September 30, 2014, the Borrowing Base was approximately $47.5 million, which was reduced by (i) an outstanding $8.8 million unfunded Standby Letter of Credit and (ii) an $8.1 million outstanding loan balance including interest, resulting in a net Borrowing Base availability of approximately $30.6 million. | ||||
The Company took actions during March 2013 to substantially reduce its discretionary spending. In particular, the Company began to implement a strategic shift in how it funds its research and development, or R&D, programs. The Company reduced its internal R&D resources during 2013, while at the same time it sought to engage one or more strategic partners to assist in the further development and commercialization of its agents in development, including flurpiridaz F 18, 18F LMI 1195 and LMI 1174. The Company has completed its 301 trial for flurpiridaz F 18 with internal funding. The Company is seeking to engage strategic partners to assist with the further development and possible commercialization of that agent. For the other two agents in development, 18F LMI 1195 and LMI 1174, the Company is also seeking to engage strategic partners to assist with the ongoing development activities relating to these agents. Based on the Company’s current operating plans, the Company believes its existing cash and cash equivalents, results of operations and availability under the Facility will be sufficient to continue to fund the Company’s liquidity requirements for at least the next twelve months. | ||||
Use of Estimates | ||||
The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The more significant estimates reflected in the Company’s condensed consolidated financial statements include certain judgments regarding revenue recognition, goodwill, tangible and intangible asset valuation, inventory valuation and potential losses on purchase commitments, asset retirement obligations, income tax liabilities, deferred tax assets and liabilities, accrued expenses and stock-based compensation. Actual results could materially differ from those estimates or assumptions. | ||||
Recent Accounting Standards | ||||
In July 2013, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update , or ASU, No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” or ASU 2013-11. The amendments in ASU 2013-11 provide guidance on the financial statement presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 was effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments did not have a material impact on the Company’s financial position, results of operations or cash flows. | ||||
In April 2014, the FASB issued ASU No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” or ASU 2014-08. The amendments in ASU 2014-08 change the criteria for reporting discontinued operations while enhancing disclosures in this area. The new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. The amendments in the ASU are effective in the first quarter of 2015 for public companies with calendar year ends. Early adoption is permitted. The Company does not anticipate this ASU will have a material impact to the Company’s financial position, results of operations or cash flows. | ||||
In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” or ASU 2014-09. ASU 2014-09 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing U.S. GAAP including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The amendments in ASU No. 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Company is currently evaluating the impact this ASU will have on the Company’s financial position, results of operations and cash flows. | ||||
In June 2014, the FASB issued ASU No. 2014-12, “Compensation – Stock Compensation (Topic 718)” or ASU 2014-12. ASU 2014-12 requires that a performance target that affects vesting and could be achieved after the requisite service period be treated as a performance condition. The amendments in ASU 2014-12 are effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. The Company does not anticipate this ASU will have a material impact to the Company’s financial position, results of operations or cash flows. | ||||
In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements-Going Concern (Subtopic 205-4): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” or ASU 2014-15. ASU 2014-15 to provide guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. The amendments in ASU 2014-15 are effective for annual reporting periods ending after December 15, 2016. Early adoption is permitted. The Company does not anticipate this ASU will have a material impact to the Company’s financial position, results of operations or cash flows. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
2. Summary of Significant Accounting Policies | |
Revenue Recognition | |
The Company recognizes revenue when evidence of an arrangement exists, title has passed, the risks and rewards of ownership have transferred to the customer, the selling price is fixed or determinable, and collectability is reasonably assured. For transactions for which revenue recognition criteria have not yet been met, the respective amounts are recorded as deferred revenue until such point in time the criteria are met and revenue can be recognized. Revenue is recognized net of reserves, which consist of allowances for returns and rebates. | |
Revenue arrangements with multiple elements are divided into separate units of accounting if certain criteria are met, including whether the delivered element has stand-alone value to the customer. The arrangement’s consideration is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value; (ii) third-party evidence of selling price; and (iii) best estimate of selling price. The best estimate of selling price reflects the Company’s best estimate of what the selling price would be if the deliverable was regularly sold by the Company on a stand-alone basis. The consideration allocated to each unit of accounting is then recognized as the related goods or services are delivered, limited to the consideration that is not contingent upon future deliverables. Supply or service transactions may involve the charge of a nonrefundable initial fee with subsequent periodic payments for future products or services. The up-front fees, even if nonrefundable, are recognized as revenue as the products and/or services are delivered and performed over the term of the arrangement. | |
Inventory | |
Inventory costs associated with product that has not yet received regulatory approval are capitalized if the Company believes there is probable future commercial use of the product and future economic benefits of the asset. If future commercial use of the product is not probable, then inventory costs associated with such product are expensed during the period the costs are incurred. For the nine months ended September 30, 2014, the Company expensed $1.7 million of such product costs in cost of goods sold relating to Neurolite that was manufactured by JHS. At September 30, 2014 and December 31, 2013, the Company had no capitalized inventories associated with product that did not have regulatory approval. | |
Goodwill | |
Goodwill is not amortized, but is instead tested for impairment at least annually and whenever events or circumstances indicate that it is more likely than not that it may be impaired. The Company has elected to perform the annual test for goodwill impairment as of October 31 of each year. All goodwill has been allocated to the U.S. operating segment. | |
During the first quarter of 2013, the strategic shift in how the Company funds its R&D programs significantly altered the expected future costs and revenues associated with the Company’s agents in development. Accordingly, this action was deemed to be a triggering event for an evaluation of the recoverability of the Company’s goodwill as of March 31, 2013. The Company performed an interim impairment test and determined that there was no goodwill impairment as of March 31, 2013. There were no events as of September 30, 2014 and December 31, 2013 that triggered an interim impairment test of goodwill. | |
The Company calculates the fair value of its reporting units using the income approach, which utilizes discounted forecasted future cash flows and the market approach which utilizes fair value multiples of comparable publicly traded companies. The discounted cash flows are based on the Company’s most recent long-term financial projections and are discounted using a risk adjusted rate of return, which is determined using estimates of market participant risk-adjusted weighted average costs of capital and reflects the risks associated with achieving future cash flows. The market approach is calculated using the guideline company method, where the Company uses market multiples derived from stock prices of companies engaged in the same or similar lines of business. A combination of the two methods is utilized to derive the fair value of the business in order to decrease the inherent risk associated with each model if used independently. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
3. Fair Value of Financial Instruments | |||||||||||||||||
The tables below present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points from active markets that are observable, such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs utilize unobservable data points for the asset or liability. | |||||||||||||||||
September 30, 2014 | Total fair | Quoted prices | Significant other | Significant | |||||||||||||
value | in active | observable | unobservable | ||||||||||||||
(in thousands) | markets | inputs | inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Money market | $ | 2,192 | $ | 2,192 | $ | — | $ | — | |||||||||
Certificate of deposit—restricted | 93 | — | 93 | — | |||||||||||||
Total | $ | 2,285 | $ | 2,192 | $ | 93 | $ | — | |||||||||
December 31, 2013 | Total fair | Quoted prices | Significant other | Significant | |||||||||||||
value | in active | observable | unobservable | ||||||||||||||
(in thousands) | markets | inputs | inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Money market | $ | 1,236 | $ | 1,236 | $ | — | $ | — | |||||||||
Certificates of deposit—restricted | 322 | — | 322 | — | |||||||||||||
Total | $ | 1,558 | $ | 1,236 | $ | 322 | $ | — | |||||||||
At December 31, 2013, the Company had a $0.2 million certificate of deposit for which the Company’s use of such cash was restricted and is included in the line item “Certificates of deposit—restricted” above. This investment was classified in other current assets on the condensed consolidated balance sheet and was redeemed during the quarter ended September 30, 2014. The remaining $0.1 million at both September 30, 2014 and December 31, 2013, represents a certificate of deposit that is collateral for a long-term lease and is included in other long-term assets on the condensed consolidated balance sheet. Certificates of deposit are classified within Level 2 of the fair value hierarchy, as these are not traded on the open market. | |||||||||||||||||
At September 30, 2014, the Company had total cash and cash equivalents of $25.2 million, which included approximately $2.2 million of money market funds and $23.0 million of cash on-hand. At December 31, 2013, the Company had total cash and cash equivalents of $16.7 million, which included approximately $1.2 million of money market funds and $15.5 million of cash on-hand. | |||||||||||||||||
The estimated fair values of the Company’s financial instruments, including its cash and cash equivalents, receivables, line of credit, accounts payable and accrued expenses approximate the carrying values of these instruments due to their short term nature. The estimated fair value of the debt at September 30, 2014, based on Level 2 inputs of recent market activity available to the Company, was $392.0 million compared to the face value of $400.0 million. At December 31, 2013, the estimated fair value of the debt was $356.0 million compared to the face value of $400.0 million. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
4. Income Taxes | |
The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate for the full fiscal year in addition to discrete events which impact the interim period. The Company’s effective tax rate differs from the U.S. statutory rate principally due to the rate impact of uncertain tax positions, valuation allowance changes and state taxes. Cumulative adjustments to the tax provision are recorded in the interim period in which a change in the estimated annual effective rate is determined. The Company’s tax benefit was $0.1 million and $0.4 million for the three and nine months ended September 30, 2014, respectively, compared to a tax benefit of $0.3 million and a provision of $0.3 million for the three and nine months ended September 30, 2013, respectively. | |
In connection with the Company’s acquisition of the medical imaging business from Bristol-Myers Squibb Company, or BMS, in 2008, the Company obtained a tax indemnification agreement from BMS related to certain tax obligations arising prior to the acquisition of the Company, for which the Company has the primary legal obligation. The tax indemnification receivable is recognized within other long-term assets. The changes in the tax indemnification asset are recognized within other income in the condensed consolidated statement of comprehensive income (loss). In accordance with the Company’s accounting policy, the change in the tax liability and penalties and interest associated with these obligations (net of any offsetting federal or state benefit) is recognized within the tax provision. Accordingly, as these reserves change, adjustments are included in the tax provision while the offsetting adjustment is included in other (expense) income. Assuming that the receivable from BMS continues to be considered recoverable by the Company, there is no net effect on earnings related to these liabilities and no net cash outflows. | |
On March 13, 2014, New York State, BMS, the Company and a relator entered into a Stipulation and Settlement Agreement and other related agreements, or collectively the Settlement Documents, to resolve an investigation by the Office of the Attorney General of New York State, claims relating to certain New York State and New York City tax matters and related claims under the New York False Claims Act. The claims at issue arose during the period from January 1, 2002 through December 31, 2006, which predated the acquisition of the medical imaging business from BMS in January 2008 and are subject to the tax indemnification agreement described above. Pursuant to the Settlement Documents, BMS paid (on behalf of itself and the Company) $6.3 million, and neither BMS nor the Company admitted any liability. The Company received a full release from New York State, New York City and the relator with respect to the claims at issue. | |
The statute of limitations for the year ended December 31, 2010 U.S. tax return expired during the period ended September 30, 2014. The Company recognized the benefit associated with the reversal of uncertain tax positions of $0.9 million and $2.7 million in the three and nine months ended September 30, 2014, respectively. The statute of limitations for the year ended December 31, 2009 U.S. tax return expired during the period ended September 30, 2013. As a result the Company recognized the benefit associated with the reversal of uncertain tax positions of $0.8 million in the three and nine months ended September 30, 2013. Within the next twelve months, approximately $0.4 million of unrecognized tax benefits, primarily relating to transfer pricing, may be recognized due to the closing of statutes of limitation. |
Inventory
Inventory | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory | ' | ||||||||
5. Inventory | |||||||||
The Company includes within current assets the amount of inventory that is estimated to be utilized within twelve months. Inventory that will be utilized after twelve months is classified within other long-term assets. | |||||||||
Inventory, classified in inventory or other long-term assets, consisted of the following: | |||||||||
(in thousands) | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
Raw materials | $ | 5,713 | $ | 7,063 | |||||
Work in process | 4,410 | 5,849 | |||||||
Finished goods | 6,302 | 5,398 | |||||||
Inventory | 16,425 | 18,310 | |||||||
Other long-term assets | 1,406 | 1,687 | |||||||
Total | $ | 17,831 | $ | 19,997 | |||||
At September 30, 2014, inventories reported as other long-term assets included $1.2 million of raw materials and $0.2 million of finished goods. At December 31, 2013, inventories reported as other long-term assets included $1.7 million of raw materials. |
Property_Plant_and_Equipment_n
Property, Plant and Equipment, net | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment, net | ' | ||||||||
6. Property, Plant and Equipment, net | |||||||||
Property, plant and equipment consisted of the following: | |||||||||
(in thousands) | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
Land | $ | 14,950 | $ | 14,950 | |||||
Buildings | 67,470 | 65,787 | |||||||
Machinery, equipment and fixtures | 65,556 | 65,026 | |||||||
Construction in progress | 7,438 | 8,029 | |||||||
Accumulated depreciation | (59,342 | ) | (56,139 | ) | |||||
Property, plant and equipment, net | $ | 96,072 | $ | 97,653 | |||||
For the three and nine months ended September 30, 2014, depreciation expense related to property, plant and equipment was $2.2 million and $6.5 million, respectively, as compared to $2.3 million and $7.1 million for the prior year comparative periods. | |||||||||
Included within machinery, equipment and fixtures are spare parts of approximately $2.5 million at both September 30, 2014 and December 31, 2013. Spare parts include replacement parts relating to plant and equipment and are either recognized as an expense when consumed or re-classified and capitalized as part of the related plant and equipment and depreciated over a time period not exceeding the useful life of the related asset. | |||||||||
Fixed assets dedicated to R&D activities, which were impacted by the March 2013 R&D strategic shift, have a carrying value of $5.2 million as of September 30, 2014. The Company believes these fixed assets will be utilized for either internally funded ongoing R&D activities or R&D activities funded by a strategic partner. If the Company is not successful in finding a strategic partner and there are no alternative uses for these fixed assets, then they could be subject to impairment in the future. | |||||||||
Long-Lived Assets Held for Sale | |||||||||
During the third quarter of 2013, the Company committed to a plan to sell certain of its excess land in the U.S. segment. This event qualified for held for sale accounting and the excess land was written down to its fair value, less estimated costs to sell. This resulted in a loss of $6.8 million, which is included within operating loss as impairment of land in the accompanying condensed consolidated statement of comprehensive income (loss). The fair value was estimated utilizing Level 3 inputs and using a market approach, based on available data for transactions in the region, discussions with real estate brokers and the asking price of comparable properties in its principal market. During the fourth quarter of 2013, the Company sold the excess land for net proceeds of $1.1 million. |
Asset_Retirement_Obligations
Asset Retirement Obligations | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Asset Retirement Obligation Disclosure [Abstract] | ' | ||||
Asset Retirement Obligations | ' | ||||
7. Asset Retirement Obligations | |||||
The Company considers the legal obligation to remediate its facilities upon a decommissioning of its radioactive related operations as an asset retirement obligation. The operations of the Company have radioactive production facilities at its North Billerica, Massachusetts and San Juan, Puerto Rico sites. | |||||
The Company is required to provide the U.S. Nuclear Regulatory Commission and Massachusetts Department of Public Health financial assurance demonstrating the Company’s ability to fund the decommissioning of the North Billerica, Massachusetts production facility upon closure, although the Company does not intend to close the facility. The Company has provided this financial assurance in the form of a $28.2 million surety bond, which itself is currently secured by an $8.8 million unfunded Standby Letter of Credit provided to the third party issuer of the bond. | |||||
The fair value of a liability for asset retirement obligations is recognized in the period in which the liability is incurred. As of September 30, 2014, the liability is measured at the present value of the obligation expected to be incurred, of approximately $26.6 million, and is adjusted in subsequent periods as accretion expense is recorded. The corresponding asset retirement costs are capitalized as part of the carrying value of the related long-lived assets and depreciated over the asset’s useful life. | |||||
The following is a reconciliation of the Company’s asset retirement obligations for the nine months ended September 30, 2014: | |||||
(in thousands) | |||||
Balance at January 1, 2014 | $ | 6,385 | |||
Capitalization | 277 | ||||
Accretion expense | 582 | ||||
Balance at September 30, 2014 | $ | 7,244 | |||
Intangibles_net
Intangibles, net | 9 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||
Intangibles, net | ' | ||||||||||||||
8. Intangibles, net | |||||||||||||||
Intangibles, net consisted of the following: | |||||||||||||||
September 30, 2014 | |||||||||||||||
(in thousands) | Cost | Accumulated | Net | Amortization | |||||||||||
amortization | Method | ||||||||||||||
Trademarks | $ | 13,540 | $ | 4,662 | $ | 8,878 | Straight-line | ||||||||
Customer relationships | 105,942 | 88,094 | 17,848 | Accelerated | |||||||||||
Other patents | 42,780 | 40,303 | 2,477 | Straight-line | |||||||||||
$ | 162,262 | $ | 133,059 | $ | 29,203 | ||||||||||
December 31, 2013 | |||||||||||||||
(in thousands) | Cost | Accumulated | Net | Amortization | |||||||||||
amortization | Method | ||||||||||||||
Trademarks | $ | 13,540 | $ | 3,298 | $ | 10,242 | Straight-line | ||||||||
Customer relationships | 106,298 | 84,476 | 21,822 | Accelerated | |||||||||||
Other patents | 42,780 | 39,846 | 2,934 | Straight-line | |||||||||||
$ | 162,618 | $ | 127,620 | $ | 34,998 | ||||||||||
During the third quarter of 2013, the Company was in negotiations with a new distributor for the sale of certain products within certain international geographies. This agreement was signed in October 2013 and the Company did not renew the agreements with its former distributors in these international geographies. Therefore, the Company reviewed the recoverability of certain of its customer relationship intangible assets in the International segment. The Company completed an update of its sales forecast based on current negotiations with new customers and its impact on its existing customer base. The Company, using its revised sales forecast, conducted an impairment analysis and concluded that the estimate of future undiscounted cash flows associated with the acquired customer relationships did not exceed the carrying amount of the asset and therefore, the asset would need to be written down to its fair value. In order to calculate the fair value of the acquired customer relationship intangible assets, the Company utilized Level 3 inputs to estimate the future discounted cash flows associated with remaining customers and as a result of this analysis, recorded an impairment charge of $1.0 million to adjust the carrying value to its fair value. This expense was recorded within cost of goods sold in the accompanying condensed consolidated statement of comprehensive income (loss) for the three and nine months ended September 30, 2013. | |||||||||||||||
For the three and nine months ended September 30, 2014, the Company recorded amortization expense for its intangible assets of $1.9 million and $5.7 million, respectively, as compared to $3.6 million and $10.8 million for the prior year comparative periods. | |||||||||||||||
Expected future amortization expense related to the intangible assets is as follows: | |||||||||||||||
(in thousands) | |||||||||||||||
Remainder of 2014 | $ | 1,902 | |||||||||||||
2015 | 6,021 | ||||||||||||||
2016 | 5,337 | ||||||||||||||
2017 | 3,521 | ||||||||||||||
2018 | 2,792 | ||||||||||||||
2019 and thereafter | 9,630 | ||||||||||||||
$ | 29,203 | ||||||||||||||
Accrued_Expenses_and_Other_Lia
Accrued Expenses and Other Liabilities | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Accrued Expenses and Other Liabilities | ' | ||||||||
9. Accrued Expenses and Other Liabilities | |||||||||
Accrued expenses and other liabilities are comprised of the following: | |||||||||
(in thousands) | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
Compensation and benefits | $ | 10,875 | $ | 10,209 | |||||
Accrued interest | 14,719 | 4,989 | |||||||
Accrued professional fees | 1,713 | 1,361 | |||||||
Research and development services | 220 | 338 | |||||||
Freight, distribution and operations | 3,187 | 3,432 | |||||||
Accrued loss on firm purchase commitment | — | 1,315 | |||||||
Marketing expense | 1,243 | 749 | |||||||
Accrued rebates, discounts and chargebacks | 2,729 | 1,739 | |||||||
Other | 402 | 1,360 | |||||||
$ | 35,088 | $ | 25,492 | ||||||
As of December 31, 2013, the Company had accrued a contract loss of $1.3 million associated with the portion of the committed purchases of Ablavar product from the Company’s supplier that the Company did not believe it would sell prior to expiry. As of September 30, 2014, the accrued contract loss has been reclassified to a reserve against the Ablavar inventory balance, because the Company satisfied the remaining purchase commitments in the first quarter of 2014. |
Financing_Arrangements
Financing Arrangements | 9 Months Ended |
Sep. 30, 2014 | |
Debt Disclosure [Abstract] | ' |
Financing Arrangements | ' |
10. Financing Arrangements | |
Senior Notes | |
LMI has $400.0 million in aggregate principal amount of Senior Notes, or the Notes, outstanding. The Notes bear interest at a rate of 9.750% per year, payable on May 15 and November 15 of each year. The Notes mature on May 15, 2017. | |
Revolving Line of Credit | |
LMI had a Facility with an original aggregate principal amount not to exceed $42.5 million. On June 24, 2014, the Company executed an amendment to the Facility, which (i) increased the committed availability for total borrowings under the Facility from $42.5 million to $50.0 million, (ii) set the interest at LIBOR plus 2.00% or the Reference Rate (as defined in the agreement) plus 1.00%, (iii) set the unused line fee at 0.375%, and (iv) further modified certain definitions. In connection with the amendment, LMI incurred approximately $0.2 million in fees and expenses as of September 30, 2014, which will be amortized on a straight-line basis over the term of the Facility. | |
The Facility expires on the earlier of (i) July 3, 2018, or (ii) if the outstanding Notes are not refinanced in full, the date that is 91 days before the maturity thereof, at which time all outstanding borrowings are due and payable. | |
As of September 30, 2014 and December 31, 2013, the Company has an unfunded Standby Letter of Credit for up to $8.8 million. The unfunded Standby Letter of Credit requires an annual fee, payable quarterly, which is set at LIBOR plus a spread of 2.00% and expires on February 5, 2015, which will automatically renew for a one year period at each anniversary date, unless the Company elects not to renew in writing within 60 days prior to that expiration. | |
The Facility is secured by a pledge of substantially all of the assets of each of the Company, LMI and Lantheus Real Estate, including each entity’s accounts receivable, inventory and machinery and equipment, and is guaranteed by each of Lantheus Intermediate and Lantheus Real Estate. Borrowing capacity is determined by reference to a Borrowing Base, which is based on a percentage of certain eligible accounts receivable, inventory and machinery and equipment minus any reserves. As of September 30, 2014, the aggregate Borrowing Base was approximately $47.5 million, which was reduced by (i) an outstanding $8.8 million unfunded Standby Letter of Credit and (ii) an $8.1 million outstanding loan balance including interest, resulting in a net Borrowing Base availability of approximately $30.6 million. |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||||||||||
11. Stock-Based Compensation | |||||||||||||||||||||||||
The Company’s employees are eligible to receive awards under the Holdings 2013 Equity Incentive Plan, or the 2013 Plan. The 2013 Plan is administered by the Holdings Board of Directors and permits the granting of nonqualified stock options, stock appreciation rights, or SARs, restricted stock and restricted stock units to employees, officers, directors and consultants of Holdings or any subsidiary of Holdings (including Lantheus Intermediate and LMI). On August 5, 2013, the Holdings Board of Directors adopted a resolution providing that no further grants be made under the Holdings 2008 Equity Incentive Plan, or the 2008 Plan. At the same time, the maximum number of shares that may be issued pursuant to awards under the 2013 Plan was increased from 1,500,000 to 2,700,000. Option awards under the 2013 Plan are granted with an exercise price equal to the fair value of Holdings’ stock at the date of grant, as determined by the Board of Directors of Holdings. Time based option awards vest based on time, either four or five years, and performance based option awards vest based on the performance criteria specified in the grant. All option awards have a ten-year contractual term. The Company recognizes compensation costs for its time based awards on a straight-line basis equal to the vesting period. The compensation cost for performance based awards is recognized on a graded vesting basis, based on the probability of achieving the performance targets over the requisite service period for the entire award. The fair value of each option award is estimated on the date of grant using a Black-Scholes valuation model that uses the assumptions noted in the following table. Expected volatilities are based on the historic volatility of a selected peer group. Expected dividends represent the dividends expected to be issued at the date of grant. The expected term of options represents the period of time that options granted are expected to be outstanding. The risk-free interest rate assumption is the U.S. Treasury rate at the date of the grant which most closely resembles the expected life of the options. | |||||||||||||||||||||||||
The Company uses the following Black-Scholes inputs to determine the fair value of new stock option grants. | |||||||||||||||||||||||||
Three Months | Nine Months | ||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Expected volatility | — | 36 | % | 33 - 35% | 36% | ||||||||||||||||||||
Expected dividends | — | — | — | — | |||||||||||||||||||||
Expected life (in years) | — | 6.3 | 5.5 - 6.3 | 5.5 - 6.3 | |||||||||||||||||||||
Risk-free interest rate | — | 1.7 | % | 1.5 – 1.9% | 0.7 - 1.7% | ||||||||||||||||||||
A summary of option activity for 2014 is presented below: | |||||||||||||||||||||||||
Time Based | Performance | Total | Weighted | Weighted | Aggregate | ||||||||||||||||||||
Based | Average | Average | Intrinsic | ||||||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||||||
Price | Contractual | ||||||||||||||||||||||||
Term | |||||||||||||||||||||||||
Outstanding at January 1, 2014 | 2,761,037 | 1,097,425 | 3,858,462 | $ | 4.89 | 6.9 | $ | 6,777,000 | |||||||||||||||||
Options granted | 74,664 | — | 74,664 | 5.98 | |||||||||||||||||||||
Options cancelled | (21,500 | ) | (6,952 | ) | (28,452 | ) | 4.88 | ||||||||||||||||||
Options exercised | (4,500 | ) | (1,737 | ) | (6,237 | ) | 2 | ||||||||||||||||||
Options forfeited or expired | (31,000 | ) | (7,880 | ) | (38,880 | ) | 7.29 | ||||||||||||||||||
Outstanding at September 30, 2014 | 2,778,701 | 1,080,856 | 3,859,557 | 4.89 | 6.2 | $ | 3,979,000 | ||||||||||||||||||
Vested and expected to vest at September 30, 2014 | 2,715,687 | 701,755 | 3,417,442 | 4.64 | 5.9 | $ | 3,979,000 | ||||||||||||||||||
Exercisable at September 30, 2014 | 1,815,393 | 548,302 | 2,363,695 | 3.58 | 4.7 | $ | 3,979,000 | ||||||||||||||||||
The weighted average grant-date fair value of options granted during the nine months ended September 30, 2014 was $2.08. No options were granted during the three months ended September 30, 2014. The weighted average grant-date fair value of options granted during the three and nine months ended September 30, 2013 was $2.53 and $2.45, respectively. | |||||||||||||||||||||||||
Stock-based compensation expense for both time based and performance based awards was recognized in the condensed consolidated statements of comprehensive income (loss) as follows: | |||||||||||||||||||||||||
Three Months | Nine Months | ||||||||||||||||||||||||
Ended | Ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Cost of goods sold | $ | 32 | $ | 26 | $ | 104 | $ | 56 | |||||||||||||||||
Sales and marketing | 34 | 46 | 116 | 86 | |||||||||||||||||||||
General and administrative | 151 | 62 | 474 | 553 | |||||||||||||||||||||
Research and development | 30 | 38 | 88 | 40 | |||||||||||||||||||||
Total stock-based compensation expense | $ | 247 | $ | 172 | $ | 782 | $ | 735 | |||||||||||||||||
Stock-based compensation expense recognized in the condensed consolidated statement of comprehensive income (loss) for the three and nine months ended September 30, 2014 and 2013 are based on awards ultimately expected to vest as well as any changes in the probability of achieving certain performance features as required. | |||||||||||||||||||||||||
Upon termination of employment, Holdings has the right to call shares held by employees that were purchased or acquired through option exercise. As a result of this right, upon termination of service, vested stock-based awards are reclassified to liability-based awards when it is probable the employee will exercise the option and that Holdings will exercise its call right. As of September 30, 2014 and December 31, 2013, the Company did not have any liability-based awards outstanding. | |||||||||||||||||||||||||
The Company did not recognize an income tax benefit with respect to stock compensation in either the nine months ended September 30, 2014 or 2013. As of September 30, 2014, there was approximately $2.1 million of total unrecognized compensation costs related to non-vested stock options granted under the 2013 and 2008 Plans. These costs are expected to be recognized over a weighted-average remaining period of 1.3 years. In addition, performance based awards contain certain contingent features, such as change in control provisions, which allow for the vesting of previously forfeited and unvested awards. As of September 30, 2014, there was approximately $1.0 million of unrecognized compensation expense relating to these features, which could be recognized through 2023. |
Other_Expense_Income_net
Other (Expense) Income, net | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||||||
Other (Expense) Income, net | ' | ||||||||||||||||
12. Other (Expense) Income, net | |||||||||||||||||
Other (expense) income, net consisted of the following: | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended | Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Foreign currency (losses) gains | $ | 82 | $ | (174 | ) | $ | (311 | ) | $ | (180 | ) | ||||||
Tax indemnification income | 359 | 434 | 163 | 706 | |||||||||||||
Other income | — | — | — | 368 | |||||||||||||
Total other income (expense), net | $ | 441 | $ | 260 | $ | (148 | ) | $ | 894 | ||||||||
Legal_Proceedings_and_Continge
Legal Proceedings and Contingencies | 9 Months Ended |
Sep. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Legal Proceedings and Contingencies | ' |
13. Legal Proceedings and Contingencies | |
From time to time, the Company is a party to various legal proceedings arising in the ordinary course of business. In addition, the Company has in the past been, and may in the future be, subject to investigations by governmental and regulatory authorities, which expose it to greater risks associated with litigation, regulatory or other proceedings, as a result of which the Company could be required to pay significant fines or penalties. The outcome of litigation, regulatory or other proceedings cannot be predicted with certainty, and some lawsuits, claims, actions or proceedings may be disposed of unfavorably to the Company. In addition, intellectual property disputes often have a risk of injunctive relief which, if imposed against the Company, could materially and adversely affect its financial condition or results of operations. As of September 30, 2014, the Company had no material ongoing litigation in which the Company was a defendant or any material ongoing regulatory or other proceedings and had no knowledge of any investigations by government or regulatory authorities in which the Company is a target that could have a material adverse effect on its current business. | |
On December 16, 2010, LMI filed suit against one of its insurance carriers seeking to recover business interruption losses associated with the NRU reactor shutdown and the ensuing global Moly supply shortage. The claim is the result of the shutdown of the NRU reactor in Chalk River, Ontario. The NRU reactor was off-line from May 2009 until August 2010. The defendant answered the complaint on January 21, 2011, denying substantially all of the allegations, presenting certain defenses and requesting dismissal of the case with costs and disbursements. Discovery, including international discovery and related motion practice, has been on-going for more than three years. The defendant filed a motion for summary judgment on July 14, 2014. The Company filed a memorandum of law in opposition to defendant’s motion for summary judgment on August 25, 2014. The defendant filed a reply memorandum of law in further support of its motion for summary judgment on September 15, 2014. Expert witness discovery was completed on October 31, 2014. The Company cannot be certain what amount, if any, or when, if ever, it will be able to recover for business interruption losses related to this matter. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
14. Related Party Transactions | |
At September 30, 2014 and December 31, 2013, LMI had outstanding receivables from Holdings in the amount of $3.6 million and $1.3 million, respectively, which was included in due from parent within stockholder’s deficit. | |
Avista, the majority shareholder of Holdings, provides certain advisory services to the Company pursuant to an advisory services and monitoring agreement. The Company is required to pay an annual fee of $1.0 million and other reasonable and customary advisory fees, as applicable, paid on a quarterly basis. The initial term of the agreement is seven years. Upon termination, which is at the Company’s option, all remaining amounts owed under the agreement shall become due immediately. During each of the three and nine months ended September 30, 2014, the Company incurred costs associated with this agreement totaling $0.3 million and $0.8 million, respectively, as compared to $0.3 million and $0.8 million for the prior year comparative periods. At September 30, 2014 and December 31, 2013, $16,000 and $30,000, respectively, was included in accrued expenses. | |
The Company had a Master Contract Research Organization Services Agreement with INC Research, LLC, or INC, to provide clinical development services in connection with the flurpiridaz F 18 Phase III program. Avista and certain of its affiliates are principal owners of both INC and the Company. The agreement was cancelled during May 2014. The agreement had a term of five years, and the Company did not incur any costs associated with this agreement in the three and nine months ended September 30, 2014. The Company incurred costs associated with this agreement totaling $0.5 million in the nine months ended September 30, 2013. No costs were incurred in the three months ended September 30, 2013. At both September 30, 2014 and December 31, 2013, there was no balance due to INC. | |
The Company purchases inventory supplies from VWR Scientific, or VWR. Avista and certain of its affiliates are principal owners of both VWR and the Company. During each of the three and nine months ended September 30, 2014, the Company made purchases of $0.1 million and $0.2 million, respectively, as compared to $0.1 million and $0.2 million for the prior year comparative periods. At September 30, 2014 and December 31, 2013, $20,000 and $1,000, respectively, was included in accounts payable and accrued expenses. | |
The Company retains Marsh for insurance brokering and risk management. In November 2013, Donald Bailey, brother of the Company’s President and Chief Executive Officer, Jeffrey Bailey, was appointed head of sales for Marsh’s U.S. and Canada division. In 2014, the Company expects to pay Marsh approximately $0.3 million. At both September 30, 2014 and December 31, 2013, there was a prepaid of $43,000 included in other current assets. | |
At December 31, 2013, the Company had $0.1 million due from an officer of the Company included in accounts receivable, net. These amounts represent federal and state tax withholdings paid by the Company on behalf of the officer. During the second quarter of 2014, this amount was fully repaid by the officer. |
Segment_Information
Segment Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Information | ' | ||||||||||||||||
15. Segment Information | |||||||||||||||||
The Company reports two operating segments, U.S. and International, based on geographic customer base. The results of these operating segments are regularly reviewed by our chief operating decision maker, the President and Chief Executive Officer. The Company’s segments derive revenues through the manufacturing, marketing, selling and distribution of medical imaging products, focused primarily on cardiovascular diagnostic imaging. The U.S. segment comprises 78.5% and 77.8% of consolidated revenues for the three and nine months ended September 30, 2014, respectively, as compared to 73.9% and 74.8% for the prior year comparative periods and 90.1% and 89.8% of consolidated assets at September 30, 2014 and December 31, 2013, respectively. All goodwill has been allocated to the U.S. operating segment. | |||||||||||||||||
Selected information for each business segment is as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenues | |||||||||||||||||
U.S. | $ | 64,311 | $ | 56,407 | $ | 188,679 | $ | 174,167 | |||||||||
International | 16,253 | 18,381 | 49,823 | 53,514 | |||||||||||||
Total revenue, including inter-segment | 80,564 | 74,788 | 238,502 | 227,681 | |||||||||||||
Less inter-segment revenue | (4,882 | ) | (4,403 | ) | (13,871 | ) | (15,677 | ) | |||||||||
$ | 75,682 | $ | 70,385 | $ | 224,631 | $ | 212,004 | ||||||||||
Revenues from external customers | |||||||||||||||||
U.S. | $ | 59,429 | $ | 52,004 | $ | 174,808 | $ | 158,490 | |||||||||
International | 16,253 | 18,381 | 49,823 | 53,514 | |||||||||||||
$ | 75,682 | $ | 70,385 | $ | 224,631 | $ | 212,004 | ||||||||||
Operating income (loss) | |||||||||||||||||
U.S. | $ | 10,493 | $ | (5,116 | ) | $ | 25,930 | $ | (18,414 | ) | |||||||
International | 1,009 | (54 | ) | 3,653 | 913 | ||||||||||||
Total operating income (loss), including inter-segment | 11,502 | (5,170 | ) | 29,583 | (17,501 | ) | |||||||||||
Inter-segment operating income (loss) | 38 | 602 | 426 | (179 | ) | ||||||||||||
Operating income (loss) | 11,540 | (4,568 | ) | 30,009 | (17,680 | ) | |||||||||||
Interest expense, net | (10,585 | ) | (11,035 | ) | (31,704 | ) | (32,323 | ) | |||||||||
Other income (expense), net | 441 | 260 | (148 | ) | 894 | ||||||||||||
Income (loss) before income taxes | $ | 1,396 | $ | (15,343 | ) | $ | (1,843 | ) | $ | (49,109 | ) | ||||||
September 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Total Assets | |||||||||||||||||
U.S. | $ | 232,491 | $ | 232,973 | |||||||||||||
International | 25,563 | 26,412 | |||||||||||||||
$ | 258,054 | $ | 259,385 | ||||||||||||||
Guarantor_Financial_Informatio
Guarantor Financial Information | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Guarantor Financial Information | ' | ||||||||||||||||||||||||
16. Guarantor Financial Information | |||||||||||||||||||||||||
The Notes, issued by LMI, are guaranteed by Lantheus Intermediate, or the Parent Guarantor, and Lantheus Real Estate, one of Lantheus Intermediate’s wholly-owned consolidated subsidiaries, or the Guarantor Subsidiary. The guarantees are full and unconditional and joint and several. The following supplemental financial information sets forth, on a condensed consolidating basis, balance sheet information as of September 30, 2014 and December 31, 2013, comprehensive income (loss) information for the three and nine months ended September 30, 2014 and 2013 and cash flow information for the nine months ended September 30, 2014 and 2013 for Lantheus Intermediate, LMI, the Guarantor Subsidiary and Lantheus Intermediate’s other wholly-owned subsidiaries, or the Non-Guarantor Subsidiaries. The condensed consolidating financial statements have been prepared on the same basis as the condensed consolidated financial statements of Lantheus Intermediate. The equity method of accounting is followed within this financial information. | |||||||||||||||||||||||||
Condensed Consolidating Balance Sheet Information | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non- | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Guarantor | |||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 20,121 | $ | — | $ | 5,084 | $ | — | $ | 25,205 | |||||||||||||
Accounts receivable, net | — | 30,611 | — | 10,549 | — | 41,160 | |||||||||||||||||||
Intercompany accounts receivable | — | 2,962 | — | — | (2,962 | ) | — | ||||||||||||||||||
Inventory | — | 13,500 | — | 2,925 | — | 16,425 | |||||||||||||||||||
Income tax receivable | — | 423 | — | 25 | — | 448 | |||||||||||||||||||
Deferred tax assets | — | — | — | 12 | — | 12 | |||||||||||||||||||
Other current assets | — | 3,916 | — | 265 | — | 4,181 | |||||||||||||||||||
Total current assets | — | 71,533 | — | 18,860 | (2,962 | ) | 87,431 | ||||||||||||||||||
Property, plant and equipment, net | — | 75,510 | 15,555 | 5,007 | — | 96,072 | |||||||||||||||||||
Capitalized software development costs, net | — | 1,828 | — | 1 | — | 1,829 | |||||||||||||||||||
Intangibles, net | — | 26,628 | — | 2,575 | — | 29,203 | |||||||||||||||||||
Goodwill | — | 15,714 | — | — | — | 15,714 | |||||||||||||||||||
Deferred financing costs | — | 7,969 | — | — | — | 7,969 | |||||||||||||||||||
Deferred tax assets | — | — | — | 45 | — | 45 | |||||||||||||||||||
Investment in subsidiaries | (240,416 | ) | 39,293 | — | — | 201,123 | — | ||||||||||||||||||
Intercompany note receivable | — | — | — | 5,568 | (5,568 | ) | — | ||||||||||||||||||
Other long-term assets | — | 19,591 | — | 200 | — | 19,791 | |||||||||||||||||||
Total assets | $ | (240,416 | ) | $ | 258,066 | $ | 15,555 | $ | 32,256 | $ | 192,593 | $ | 258,054 | ||||||||||||
Liabilities and (deficit) equity: | |||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||
Line of credit | $ | — | $ | 8,000 | $ | — | $ | — | $ | — | $ | 8,000 | |||||||||||||
Accounts payable | — | 13,810 | — | 1,573 | — | 15,383 | |||||||||||||||||||
Intercompany accounts payable | — | — | — | 2,962 | (2,962 | ) | — | ||||||||||||||||||
Accrued expenses and other liabilities | — | 31,944 | — | 3,144 | — | 35,088 | |||||||||||||||||||
Deferred tax liability | — | — | — | 57 | — | 57 | |||||||||||||||||||
Deferred revenue | — | 1,063 | — | — | — | 1,063 | |||||||||||||||||||
Total current liabilities | — | 54,817 | — | 7,736 | (2,962 | ) | 59,591 | ||||||||||||||||||
Asset retirement obligations | — | 7,049 | — | 195 | — | 7,244 | |||||||||||||||||||
Long-term debt, net | — | 399,220 | — | — | — | 399,220 | |||||||||||||||||||
Intercompany note payable | — | 5,568 | — | — | (5,568 | ) | — | ||||||||||||||||||
Deferred tax liability | — | — | — | 8 | — | 8 | |||||||||||||||||||
Other long-term liabilities | — | 31,828 | — | 579 | — | 32,407 | |||||||||||||||||||
Total liabilities | — | 498,482 | — | 8,518 | (8,530 | ) | 498,470 | ||||||||||||||||||
(Deficit) equity | (240,416 | ) | (240,416 | ) | 15,555 | 23,738 | 201,123 | (240,416 | ) | ||||||||||||||||
Total liabilities and (deficit) equity | $ | (240,416 | ) | $ | 258,066 | $ | 15,555 | $ | 32,256 | $ | 192,593 | $ | 258,054 | ||||||||||||
Condensed Consolidating Balance Sheet Information | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non- | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Guarantor | |||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 11,995 | $ | — | $ | 4,674 | $ | — | $ | 16,669 | |||||||||||||
Accounts receivable, net | — | 28,099 | — | 10,811 | — | 38,910 | |||||||||||||||||||
Intercompany accounts receivable | — | 2,671 | — | — | (2,671 | ) | — | ||||||||||||||||||
Inventory | — | 15,414 | — | 2,896 | — | 18,310 | |||||||||||||||||||
Income tax receivable | — | 297 | — | 28 | — | 325 | |||||||||||||||||||
Deferred tax assets | — | — | — | 18 | — | 18 | |||||||||||||||||||
Other current assets | — | 2,906 | — | 181 | — | 3,087 | |||||||||||||||||||
Total current assets | — | 61,382 | — | 18,608 | (2,671 | ) | 77,319 | ||||||||||||||||||
Property, plant and equipment, net | — | 76,068 | 15,615 | 5,970 | — | 97,653 | |||||||||||||||||||
Capitalized software development costs, net | — | 1,468 | — | 2 | — | 1,470 | |||||||||||||||||||
Intangibles, net | — | 31,838 | — | 3,160 | — | 34,998 | |||||||||||||||||||
Goodwill | — | 15,714 | — | — | — | 15,714 | |||||||||||||||||||
Deferred financing costs | — | 9,639 | — | — | — | 9,639 | |||||||||||||||||||
Deferred tax assets | — | — | — | 15 | — | 15 | |||||||||||||||||||
Investment in subsidiaries | (237,088 | ) | 40,289 | — | — | 196,799 | — | ||||||||||||||||||
Intercompany note receivable | — | — | — | 5,396 | (5,396 | ) | — | ||||||||||||||||||
Other long-term assets | — | 22,370 | — | 207 | — | 22,577 | |||||||||||||||||||
Total assets | $ | (237,088 | ) | $ | 258,768 | $ | 15,615 | $ | 33,358 | $ | 188,732 | $ | 259,385 | ||||||||||||
Liabilities and (deficit) equity: | |||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||
Line of credit | $ | — | $ | 8,000 | $ | — | $ | — | $ | — | $ | 8,000 | |||||||||||||
Accounts payable | — | 16,672 | — | 1,431 | — | 18,103 | |||||||||||||||||||
Intercompany accounts payable | — | — | — | 2,671 | (2,671 | ) | — | ||||||||||||||||||
Accrued expenses and other liabilities | — | 21,409 | — | 4,083 | — | 25,492 | |||||||||||||||||||
Deferred tax liability | — | — | — | 57 | — | 57 | |||||||||||||||||||
Deferred revenue | — | 3,979 | — | — | — | 3,979 | |||||||||||||||||||
Total current liabilities | — | 50,060 | — | 8,242 | (2,671 | ) | 55,631 | ||||||||||||||||||
Asset retirement obligations | — | 6,212 | — | 173 | — | 6,385 | |||||||||||||||||||
Long-term debt, net | — | 399,037 | — | — | — | 399,037 | |||||||||||||||||||
Intercompany note payable | — | 5,396 | — | — | (5,396 | ) | — | ||||||||||||||||||
Deferred tax liability | — | — | — | 12 | — | 12 | |||||||||||||||||||
Other long-term liabilities | — | 35,151 | — | 257 | — | 35,408 | |||||||||||||||||||
Total liabilities | — | 495,856 | — | 8,684 | (8,067 | ) | 496,473 | ||||||||||||||||||
(Deficit) equity | (237,088 | ) | (237,088 | ) | 15,615 | 24,674 | 196,799 | (237,088 | ) | ||||||||||||||||
Total liabilities and (deficit) equity | $ | (237,088 | ) | $ | 258,768 | $ | 15,615 | $ | 33,358 | $ | 188,732 | $ | 259,385 | ||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Revenues | $ | — | $ | 66,927 | $ | — | $ | 13,637 | $ | (4,882 | ) | $ | 75,682 | ||||||||||||
Cost of goods sold | — | 36,243 | — | 12,683 | (4,882 | ) | 44,044 | ||||||||||||||||||
Gross profit | — | 30,684 | — | 954 | — | 31,638 | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||
Sales and marketing expenses | — | 7,462 | — | 865 | — | 8,327 | |||||||||||||||||||
General and administrative expenses | — | 8,222 | 20 | 480 | — | 8,722 | |||||||||||||||||||
Research and development expenses | — | 2,953 | — | 96 | — | 3,049 | |||||||||||||||||||
Operating income (loss) | — | 12,047 | (20 | ) | (487 | ) | — | 11,540 | |||||||||||||||||
Interest expense, net | — | (10,649 | ) | — | 64 | — | (10,585 | ) | |||||||||||||||||
Other income, net | — | 305 | — | 136 | — | 441 | |||||||||||||||||||
Equity in earnings (losses) of affiliates | 1,452 | (497 | ) | — | — | (955 | ) | — | |||||||||||||||||
Income (loss) before income taxes | 1,452 | 1,206 | (20 | ) | (287 | ) | (955 | ) | 1,396 | ||||||||||||||||
(Benefit) provision for income taxes | — | (246 | ) | — | 190 | — | (56 | ) | |||||||||||||||||
Net income (loss) | 1,452 | 1,452 | (20 | ) | (477 | ) | (955 | ) | 1,452 | ||||||||||||||||
Foreign currency translation | — | — | — | (671 | ) | — | (671 | ) | |||||||||||||||||
Equity in other comprehensive (loss) income of subsidiaries | (671 | ) | (671 | ) | — | — | 1,342 | — | |||||||||||||||||
Total comprehensive income (loss) | $ | 781 | $ | 781 | $ | (20 | ) | $ | (1,148 | ) | $ | 387 | $ | 781 | |||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Revenues | $ | — | $ | 59,416 | $ | — | $ | 15,372 | $ | (4,403 | ) | $ | 70,385 | ||||||||||||
Cost of goods sold | — | 35,859 | — | 15,208 | (4,403 | ) | 46,664 | ||||||||||||||||||
Gross profit | — | 23,557 | — | 164 | — | 23,721 | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||
Sales and marketing expenses | — | 7,641 | — | 835 | — | 8,476 | |||||||||||||||||||
General and administrative expenses | — | 6,585 | 20 | 527 | — | 7,132 | |||||||||||||||||||
Research and development expenses | — | 5,779 | — | 114 | — | 5,893 | |||||||||||||||||||
Impairment of land | — | — | 6,788 | — | — | 6,788 | |||||||||||||||||||
Operating income (loss) | — | 3,552 | (6,808 | ) | (1,312 | ) | — | (4,568 | ) | ||||||||||||||||
Interest expense, net | — | (11,083 | ) | — | 48 | — | (11,035 | ) | |||||||||||||||||
Other income (expense), net | — | 409 | — | (149 | ) | — | 260 | ||||||||||||||||||
Equity in earnings (losses) of affiliates | (15,064 | ) | (8,197 | ) | — | — | 23,261 | — | |||||||||||||||||
Income (loss) before income taxes | (15,064 | ) | (15,319 | ) | (6,808 | ) | (1,413 | ) | 23,261 | (15,343 | ) | ||||||||||||||
(Benefit) provision for income taxes | — | (255 | ) | — | (24 | ) | — | (279 | ) | ||||||||||||||||
Net income (loss) | (15,064 | ) | (15,064 | ) | (6,808 | ) | (1,389 | ) | 23,261 | (15,064 | ) | ||||||||||||||
Foreign currency translation | — | — | — | 417 | — | 417 | |||||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | 417 | 417 | — | — | (834 | ) | — | ||||||||||||||||||
Total comprehensive income (loss) | $ | (14,647 | ) | $ | (14,647 | ) | $ | (6,808 | ) | $ | (972 | ) | $ | 22,427 | $ | (14,647 | ) | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Revenues | $ | — | $ | 196,435 | $ | — | $ | 42,067 | $ | (13,871 | ) | $ | 224,631 | ||||||||||||
Cost of goods sold | — | 108,111 | — | 37,633 | (13,871 | ) | 131,873 | ||||||||||||||||||
Gross profit | — | 88,324 | — | 4,434 | — | 92,758 | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||
Sales and marketing expenses | — | 24,466 | — | 2,761 | — | 27,227 | |||||||||||||||||||
General and administrative expenses | — | 24,822 | 60 | 1,682 | — | 26,564 | |||||||||||||||||||
Research and development expenses | — | 8,656 | — | 302 | — | 8,958 | |||||||||||||||||||
Operating income (loss) | — | 30,380 | (60 | ) | (311 | ) | — | 30,009 | |||||||||||||||||
Interest expense, net | — | (31,896 | ) | — | 192 | — | (31,704 | ) | |||||||||||||||||
Other income (expense), net | — | 80 | — | (228 | ) | — | (148 | ) | |||||||||||||||||
Equity in earnings (losses) of affiliates | (1,469 | ) | (657 | ) | — | — | 2,126 | — | |||||||||||||||||
Income (loss) before income taxes | (1,469 | ) | (2,093 | ) | (60 | ) | (347 | ) | 2,126 | (1,843 | ) | ||||||||||||||
(Benefit) provision for income taxes | — | (624 | ) | — | 250 | — | (374 | ) | |||||||||||||||||
Net income (loss) | (1,469 | ) | (1,469 | ) | (60 | ) | (597 | ) | 2,126 | (1,469 | ) | ||||||||||||||
Foreign currency translation | — | — | — | (339 | ) | — | (339 | ) | |||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | (339 | ) | (339 | ) | — | — | 678 | — | |||||||||||||||||
Total comprehensive income (loss) | $ | (1,808 | ) | $ | (1,808 | ) | $ | (60 | ) | $ | (936 | ) | $ | 2,804 | $ | (1,808 | ) | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Revenues | $ | — | $ | 180,453 | $ | — | $ | 47,228 | $ | (15,677 | ) | $ | 212,004 | ||||||||||||
Cost of goods sold | — | 115,962 | — | 44,239 | (15,677 | ) | 144,524 | ||||||||||||||||||
Gross profit | — | 64,491 | — | 2,989 | — | 67,480 | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||
Sales and marketing expenses | — | 24,564 | — | 2,702 | — | 27,266 | |||||||||||||||||||
General and administrative expenses | — | 23,844 | 60 | 1,774 | — | 25,678 | |||||||||||||||||||
Research and development expenses | — | 25,200 | — | 228 | — | 25,428 | |||||||||||||||||||
Impairment of land | — | — | 6,788 | — | — | 6,788 | |||||||||||||||||||
Operating loss | — | (9,117 | ) | (6,848 | ) | (1,715 | ) | — | (17,680 | ) | |||||||||||||||
Interest expense, net | — | (32,458 | ) | — | 135 | — | (32,323 | ) | |||||||||||||||||
Other income (expense), net | — | 1,039 | — | (145 | ) | — | 894 | ||||||||||||||||||
Equity in earnings (losses) of affiliates | (49,376 | ) | (8,552 | ) | — | — | 57,928 | — | |||||||||||||||||
Income (loss) before income taxes | (49,376 | ) | (49,088 | ) | (6,848 | ) | (1,725 | ) | 57,928 | (49,109 | ) | ||||||||||||||
(Benefit) provision for income taxes | — | 288 | — | (21 | ) | — | 267 | ||||||||||||||||||
Net income (loss) | (49,376 | ) | (49,376 | ) | (6,848 | ) | (1,704 | ) | 57,928 | (49,376 | ) | ||||||||||||||
Foreign currency translation | — | — | — | (1,176 | ) | — | (1,176 | ) | |||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | (1,176 | ) | (1,176 | ) | — | — | 2,352 | — | |||||||||||||||||
Total comprehensive income (loss) | $ | (50,552 | ) | $ | (50,552 | ) | $ | (6,848 | ) | $ | (2,880 | ) | $ | 60,280 | $ | (50,552 | ) | ||||||||
Condensed Consolidating Cash Flow Information | |||||||||||||||||||||||||
Nine Months September September 30, 2014 | |||||||||||||||||||||||||
Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | ||||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Cash provided by operating activities | $ | — | $ | 14,614 | $ | — | $ | 834 | $ | — | $ | 15,448 | |||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||
Capital expenditures | — | (5,011 | ) | — | (292 | ) | — | (5,303 | ) | ||||||||||||||||
Payments from subsidiary | 1,741 | — | — | — | (1,741 | ) | — | ||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | 227 | — | — | — | 227 | |||||||||||||||||||
Redemption of certificate of deposit-restricted | — | 228 | — | — | — | 228 | |||||||||||||||||||
Cash provided by (used in) investing activities | 1,741 | (4,556 | ) | — | (292 | ) | (1,741 | ) | (4,848 | ) | |||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||
Proceeds from line of credit | — | 5,500 | — | — | — | 5,500 | |||||||||||||||||||
Payments on line of credit | — | (5,500 | ) | — | — | — | (5,500 | ) | |||||||||||||||||
Payments on note payable | — | (52 | ) | — | — | — | (52 | ) | |||||||||||||||||
Deferred financing costs | — | (139 | ) | — | — | — | (139 | ) | |||||||||||||||||
Payments to parent | (1,741 | ) | (1,741 | ) | — | — | 1,741 | (1,741 | ) | ||||||||||||||||
Cash provided by (used in) financing activities | (1,741 | ) | (1,932 | ) | — | — | 1,741 | (1,932 | ) | ||||||||||||||||
Effect of foreign exchange rate on cash | — | — | — | (132 | ) | — | (132 | ) | |||||||||||||||||
Increase (decrease) in cash and cash equivalents | — | 8,126 | — | 410 | — | 8,536 | |||||||||||||||||||
Cash and cash equivalents, beginning of period | — | 11,995 | — | 4,674 | — | 16,669 | |||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 20,121 | $ | — | $ | 5,084 | $ | — | $ | 25,205 | |||||||||||||
Condensed Consolidating Cash Flow Information | |||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | ||||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Cash provided by (used in) operating activities | $ | — | $ | (13,054 | ) | $ | — | $ | 2,970 | $ | (1,738 | ) | $ | (11,822 | ) | ||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||
Capital expenditures | — | (3,621 | ) | — | (90 | ) | — | (3,711 | ) | ||||||||||||||||
Intercompany note | — | — | — | (2,249 | ) | 2,249 | — | ||||||||||||||||||
Proceeds from dividend | — | 4,174 | — | — | (4,174 | ) | — | ||||||||||||||||||
Cash provided by (used in) investing activities | — | 553 | — | (2,339 | ) | (1,925 | ) | (3,711 | ) | ||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||
Proceeds from line of credit | — | 8,000 | — | — | — | 8,000 | |||||||||||||||||||
Payments on note payable | — | (1,174 | ) | — | — | — | (1,174 | ) | |||||||||||||||||
Deferred financing costs | — | (1,188 | ) | — | — | — | (1,188 | ) | |||||||||||||||||
Payments from parent | — | 111 | — | — | — | 111 | |||||||||||||||||||
Intercompany note | — | 2,249 | — | — | (2,249 | ) | — | ||||||||||||||||||
Payment of dividend | — | — | — | (5,912 | ) | 5,912 | — | ||||||||||||||||||
Cash provided by (used in) financing activities | — | 7,998 | — | (5,912 | ) | 3,663 | 5,749 | ||||||||||||||||||
Effect of foreign exchange rate on cash | — | — | — | (949 | ) | — | (949 | ) | |||||||||||||||||
Increase (decrease) in cash and cash equivalents | — | (4,503 | ) | — | (6,230 | ) | — | (10,733 | ) | ||||||||||||||||
Cash and cash equivalents, beginning of period | — | 17,635 | — | 13,960 | — | 31,595 | |||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 13,132 | $ | — | $ | 7,730 | $ | — | $ | 20,862 | |||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Revenue Recognition | ' |
Revenue Recognition | |
The Company recognizes revenue when evidence of an arrangement exists, title has passed, the risks and rewards of ownership have transferred to the customer, the selling price is fixed or determinable, and collectability is reasonably assured. For transactions for which revenue recognition criteria have not yet been met, the respective amounts are recorded as deferred revenue until such point in time the criteria are met and revenue can be recognized. Revenue is recognized net of reserves, which consist of allowances for returns and rebates. | |
Revenue arrangements with multiple elements are divided into separate units of accounting if certain criteria are met, including whether the delivered element has stand-alone value to the customer. The arrangement’s consideration is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value; (ii) third-party evidence of selling price; and (iii) best estimate of selling price. The best estimate of selling price reflects the Company’s best estimate of what the selling price would be if the deliverable was regularly sold by the Company on a stand-alone basis. The consideration allocated to each unit of accounting is then recognized as the related goods or services are delivered, limited to the consideration that is not contingent upon future deliverables. Supply or service transactions may involve the charge of a nonrefundable initial fee with subsequent periodic payments for future products or services. The up-front fees, even if nonrefundable, are recognized as revenue as the products and/or services are delivered and performed over the term of the arrangement. | |
Inventory | ' |
Inventory | |
Inventory costs associated with product that has not yet received regulatory approval are capitalized if the Company believes there is probable future commercial use of the product and future economic benefits of the asset. If future commercial use of the product is not probable, then inventory costs associated with such product are expensed during the period the costs are incurred. For the nine months ended September 30, 2014, the Company expensed $1.7 million of such product costs in cost of goods sold relating to Neurolite that was manufactured by JHS. At September 30, 2014 and December 31, 2013, the Company had no capitalized inventories associated with product that did not have regulatory approval. | |
Goodwill | ' |
Goodwill | |
Goodwill is not amortized, but is instead tested for impairment at least annually and whenever events or circumstances indicate that it is more likely than not that it may be impaired. The Company has elected to perform the annual test for goodwill impairment as of October 31 of each year. All goodwill has been allocated to the U.S. operating segment. | |
During the first quarter of 2013, the strategic shift in how the Company funds its R&D programs significantly altered the expected future costs and revenues associated with the Company’s agents in development. Accordingly, this action was deemed to be a triggering event for an evaluation of the recoverability of the Company’s goodwill as of March 31, 2013. The Company performed an interim impairment test and determined that there was no goodwill impairment as of March 31, 2013. There were no events as of September 30, 2014 and December 31, 2013 that triggered an interim impairment test of goodwill. | |
The Company calculates the fair value of its reporting units using the income approach, which utilizes discounted forecasted future cash flows and the market approach which utilizes fair value multiples of comparable publicly traded companies. The discounted cash flows are based on the Company’s most recent long-term financial projections and are discounted using a risk adjusted rate of return, which is determined using estimates of market participant risk-adjusted weighted average costs of capital and reflects the risks associated with achieving future cash flows. The market approach is calculated using the guideline company method, where the Company uses market multiples derived from stock prices of companies engaged in the same or similar lines of business. A combination of the two methods is utilized to derive the fair value of the business in order to decrease the inherent risk associated with each model if used independently. |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of the Information about the Company's Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||
Fair values determined by Level 3 inputs utilize unobservable data points for the asset or liability. | |||||||||||||||||
September 30, 2014 | Total fair | Quoted prices | Significant other | Significant | |||||||||||||
value | in active | observable | unobservable | ||||||||||||||
(in thousands) | markets | inputs | inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Money market | $ | 2,192 | $ | 2,192 | $ | — | $ | — | |||||||||
Certificate of deposit—restricted | 93 | — | 93 | — | |||||||||||||
Total | $ | 2,285 | $ | 2,192 | $ | 93 | $ | — | |||||||||
December 31, 2013 | Total fair | Quoted prices | Significant other | Significant | |||||||||||||
value | in active | observable | unobservable | ||||||||||||||
(in thousands) | markets | inputs | inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Money market | $ | 1,236 | $ | 1,236 | $ | — | $ | — | |||||||||
Certificates of deposit—restricted | 322 | — | 322 | — | |||||||||||||
Total | $ | 1,558 | $ | 1,236 | $ | 322 | $ | — | |||||||||
Inventory_Tables
Inventory (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Classified in Inventory or Other Long-term Assets | ' | ||||||||
Inventory, classified in inventory or other long-term assets, consisted of the following: | |||||||||
(in thousands) | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
Raw materials | $ | 5,713 | $ | 7,063 | |||||
Work in process | 4,410 | 5,849 | |||||||
Finished goods | 6,302 | 5,398 | |||||||
Inventory | 16,425 | 18,310 | |||||||
Other long-term assets | 1,406 | 1,687 | |||||||
Total | $ | 17,831 | $ | 19,997 | |||||
Property_Plant_and_Equipment_n1
Property, Plant and Equipment, net (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Schedule of Property, Plant and Equipment, Net | ' | ||||||||
Property, plant and equipment consisted of the following: | |||||||||
(in thousands) | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
Land | $ | 14,950 | $ | 14,950 | |||||
Buildings | 67,470 | 65,787 | |||||||
Machinery, equipment and fixtures | 65,556 | 65,026 | |||||||
Construction in progress | 7,438 | 8,029 | |||||||
Accumulated depreciation | (59,342 | ) | (56,139 | ) | |||||
Property, plant and equipment, net | $ | 96,072 | $ | 97,653 | |||||
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Asset Retirement Obligation Disclosure [Abstract] | ' | ||||
Schedule of Reconciliation of Company's Asset Retirement Obligations | ' | ||||
The following is a reconciliation of the Company’s asset retirement obligations for the nine months ended September 30, 2014: | |||||
(in thousands) | |||||
Balance at January 1, 2014 | $ | 6,385 | |||
Capitalization | 277 | ||||
Accretion expense | 582 | ||||
Balance at September 30, 2014 | $ | 7,244 | |||
Intangibles_net_Tables
Intangibles, net (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||
Schedule of Intangibles, Net | ' | ||||||||||||||
Intangibles, net consisted of the following: | |||||||||||||||
September 30, 2014 | |||||||||||||||
(in thousands) | Cost | Accumulated | Net | Amortization | |||||||||||
amortization | Method | ||||||||||||||
Trademarks | $ | 13,540 | $ | 4,662 | $ | 8,878 | Straight-line | ||||||||
Customer relationships | 105,942 | 88,094 | 17,848 | Accelerated | |||||||||||
Other patents | 42,780 | 40,303 | 2,477 | Straight-line | |||||||||||
$ | 162,262 | $ | 133,059 | $ | 29,203 | ||||||||||
December 31, 2013 | |||||||||||||||
(in thousands) | Cost | Accumulated | Net | Amortization | |||||||||||
amortization | Method | ||||||||||||||
Trademarks | $ | 13,540 | $ | 3,298 | $ | 10,242 | Straight-line | ||||||||
Customer relationships | 106,298 | 84,476 | 21,822 | Accelerated | |||||||||||
Other patents | 42,780 | 39,846 | 2,934 | Straight-line | |||||||||||
$ | 162,618 | $ | 127,620 | $ | 34,998 | ||||||||||
Schedule of Expected Future Amortization Expense Related to Intangible Assets | ' | ||||||||||||||
Expected future amortization expense related to the intangible assets is as follows: | |||||||||||||||
(in thousands) | |||||||||||||||
Remainder of 2014 | $ | 1,902 | |||||||||||||
2015 | 6,021 | ||||||||||||||
2016 | 5,337 | ||||||||||||||
2017 | 3,521 | ||||||||||||||
2018 | 2,792 | ||||||||||||||
2019 and thereafter | 9,630 | ||||||||||||||
$ | 29,203 | ||||||||||||||
Accrued_Expenses_and_Other_Lia1
Accrued Expenses and Other Liabilities (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Schedule of Accrued Expenses and Other Liabilities | ' | ||||||||
Accrued expenses and other liabilities are comprised of the following: | |||||||||
(in thousands) | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
Compensation and benefits | $ | 10,875 | $ | 10,209 | |||||
Accrued interest | 14,719 | 4,989 | |||||||
Accrued professional fees | 1,713 | 1,361 | |||||||
Research and development services | 220 | 338 | |||||||
Freight, distribution and operations | 3,187 | 3,432 | |||||||
Accrued loss on firm purchase commitment | — | 1,315 | |||||||
Marketing expense | 1,243 | 749 | |||||||
Accrued rebates, discounts and chargebacks | 2,729 | 1,739 | |||||||
Other | 402 | 1,360 | |||||||
$ | 35,088 | $ | 25,492 | ||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Assumptions used for Estimating Fair Value of Each Option Award on Date of Grant using Black-Scholes Valuation Model | ' | ||||||||||||||||||||||||
The Company uses the following Black-Scholes inputs to determine the fair value of new stock option grants. | |||||||||||||||||||||||||
Three Months | Nine Months | ||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Expected volatility | — | 36 | % | 33 - 35% | 36% | ||||||||||||||||||||
Expected dividends | — | — | — | — | |||||||||||||||||||||
Expected life (in years) | — | 6.3 | 5.5 - 6.3 | 5.5 - 6.3 | |||||||||||||||||||||
Risk-free interest rate | — | 1.7 | % | 1.5 – 1.9% | 0.7 - 1.7% | ||||||||||||||||||||
Schedule of Option Activity | ' | ||||||||||||||||||||||||
A summary of option activity for 2014 is presented below: | |||||||||||||||||||||||||
Time Based | Performance | Total | Weighted | Weighted | Aggregate | ||||||||||||||||||||
Based | Average | Average | Intrinsic | ||||||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||||||
Price | Contractual | ||||||||||||||||||||||||
Term | |||||||||||||||||||||||||
Outstanding at January 1, 2014 | 2,761,037 | 1,097,425 | 3,858,462 | $ | 4.89 | 6.9 | $ | 6,777,000 | |||||||||||||||||
Options granted | 74,664 | — | 74,664 | 5.98 | |||||||||||||||||||||
Options cancelled | (21,500 | ) | (6,952 | ) | (28,452 | ) | 4.88 | ||||||||||||||||||
Options exercised | (4,500 | ) | (1,737 | ) | (6,237 | ) | 2 | ||||||||||||||||||
Options forfeited or expired | (31,000 | ) | (7,880 | ) | (38,880 | ) | 7.29 | ||||||||||||||||||
Outstanding at September 30, 2014 | 2,778,701 | 1,080,856 | 3,859,557 | 4.89 | 6.2 | $ | 3,979,000 | ||||||||||||||||||
Vested and expected to vest at September 30, 2014 | 2,715,687 | 701,755 | 3,417,442 | 4.64 | 5.9 | $ | 3,979,000 | ||||||||||||||||||
Exercisable at September 30, 2014 | 1,815,393 | 548,302 | 2,363,695 | 3.58 | 4.7 | $ | 3,979,000 | ||||||||||||||||||
Schedule of Stock-Based Compensation Expense Recognized | ' | ||||||||||||||||||||||||
Stock-based compensation expense for both time based and performance based awards was recognized in the condensed consolidated statements of comprehensive income (loss) as follows: | |||||||||||||||||||||||||
Three Months | Nine Months | ||||||||||||||||||||||||
Ended | Ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Cost of goods sold | $ | 32 | $ | 26 | $ | 104 | $ | 56 | |||||||||||||||||
Sales and marketing | 34 | 46 | 116 | 86 | |||||||||||||||||||||
General and administrative | 151 | 62 | 474 | 553 | |||||||||||||||||||||
Research and development | 30 | 38 | 88 | 40 | |||||||||||||||||||||
Total stock-based compensation expense | $ | 247 | $ | 172 | $ | 782 | $ | 735 | |||||||||||||||||
Other_Expense_Income_net_Table
Other (Expense) Income, net (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||||||
Schedule of Other (Expense) Income, Net | ' | ||||||||||||||||
Other (expense) income, net consisted of the following: | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended | Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Foreign currency (losses) gains | $ | 82 | $ | (174 | ) | $ | (311 | ) | $ | (180 | ) | ||||||
Tax indemnification income | 359 | 434 | 163 | 706 | |||||||||||||
Other income | — | — | — | 368 | |||||||||||||
Total other income (expense), net | $ | 441 | $ | 260 | $ | (148 | ) | $ | 894 | ||||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Selected Information for Each Business Segment | ' | ||||||||||||||||
Selected information for each business segment is as follows (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenues | |||||||||||||||||
U.S. | $ | 64,311 | $ | 56,407 | $ | 188,679 | $ | 174,167 | |||||||||
International | 16,253 | 18,381 | 49,823 | 53,514 | |||||||||||||
Total revenue, including inter-segment | 80,564 | 74,788 | 238,502 | 227,681 | |||||||||||||
Less inter-segment revenue | (4,882 | ) | (4,403 | ) | (13,871 | ) | (15,677 | ) | |||||||||
$ | 75,682 | $ | 70,385 | $ | 224,631 | $ | 212,004 | ||||||||||
Revenues from external customers | |||||||||||||||||
U.S. | $ | 59,429 | $ | 52,004 | $ | 174,808 | $ | 158,490 | |||||||||
International | 16,253 | 18,381 | 49,823 | 53,514 | |||||||||||||
$ | 75,682 | $ | 70,385 | $ | 224,631 | $ | 212,004 | ||||||||||
Operating income (loss) | |||||||||||||||||
U.S. | $ | 10,493 | $ | (5,116 | ) | $ | 25,930 | $ | (18,414 | ) | |||||||
International | 1,009 | (54 | ) | 3,653 | 913 | ||||||||||||
Total operating income (loss), including inter-segment | 11,502 | (5,170 | ) | 29,583 | (17,501 | ) | |||||||||||
Inter-segment operating income (loss) | 38 | 602 | 426 | (179 | ) | ||||||||||||
Operating income (loss) | 11,540 | (4,568 | ) | 30,009 | (17,680 | ) | |||||||||||
Interest expense, net | (10,585 | ) | (11,035 | ) | (31,704 | ) | (32,323 | ) | |||||||||
Other income (expense), net | 441 | 260 | (148 | ) | 894 | ||||||||||||
Income (loss) before income taxes | $ | 1,396 | $ | (15,343 | ) | $ | (1,843 | ) | $ | (49,109 | ) | ||||||
September 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Total Assets | |||||||||||||||||
U.S. | $ | 232,491 | $ | 232,973 | |||||||||||||
International | 25,563 | 26,412 | |||||||||||||||
$ | 258,054 | $ | 259,385 | ||||||||||||||
Guarantor_Financial_Informatio1
Guarantor Financial Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Condensed Consolidating Balance Sheet Information | ' | ||||||||||||||||||||||||
Condensed Consolidating Balance Sheet Information | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non- | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Guarantor | |||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 20,121 | $ | — | $ | 5,084 | $ | — | $ | 25,205 | |||||||||||||
Accounts receivable, net | — | 30,611 | — | 10,549 | — | 41,160 | |||||||||||||||||||
Intercompany accounts receivable | — | 2,962 | — | — | (2,962 | ) | — | ||||||||||||||||||
Inventory | — | 13,500 | — | 2,925 | — | 16,425 | |||||||||||||||||||
Income tax receivable | — | 423 | — | 25 | — | 448 | |||||||||||||||||||
Deferred tax assets | — | — | — | 12 | — | 12 | |||||||||||||||||||
Other current assets | — | 3,916 | — | 265 | — | 4,181 | |||||||||||||||||||
Total current assets | — | 71,533 | — | 18,860 | (2,962 | ) | 87,431 | ||||||||||||||||||
Property, plant and equipment, net | — | 75,510 | 15,555 | 5,007 | — | 96,072 | |||||||||||||||||||
Capitalized software development costs, net | — | 1,828 | — | 1 | — | 1,829 | |||||||||||||||||||
Intangibles, net | — | 26,628 | — | 2,575 | — | 29,203 | |||||||||||||||||||
Goodwill | — | 15,714 | — | — | — | 15,714 | |||||||||||||||||||
Deferred financing costs | — | 7,969 | — | — | — | 7,969 | |||||||||||||||||||
Deferred tax assets | — | — | — | 45 | — | 45 | |||||||||||||||||||
Investment in subsidiaries | (240,416 | ) | 39,293 | — | — | 201,123 | — | ||||||||||||||||||
Intercompany note receivable | — | — | — | 5,568 | (5,568 | ) | — | ||||||||||||||||||
Other long-term assets | — | 19,591 | — | 200 | — | 19,791 | |||||||||||||||||||
Total assets | $ | (240,416 | ) | $ | 258,066 | $ | 15,555 | $ | 32,256 | $ | 192,593 | $ | 258,054 | ||||||||||||
Liabilities and (deficit) equity: | |||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||
Line of credit | $ | — | $ | 8,000 | $ | — | $ | — | $ | — | $ | 8,000 | |||||||||||||
Accounts payable | — | 13,810 | — | 1,573 | — | 15,383 | |||||||||||||||||||
Intercompany accounts payable | — | — | — | 2,962 | (2,962 | ) | — | ||||||||||||||||||
Accrued expenses and other liabilities | — | 31,944 | — | 3,144 | — | 35,088 | |||||||||||||||||||
Deferred tax liability | — | — | — | 57 | — | 57 | |||||||||||||||||||
Deferred revenue | — | 1,063 | — | — | — | 1,063 | |||||||||||||||||||
Total current liabilities | — | 54,817 | — | 7,736 | (2,962 | ) | 59,591 | ||||||||||||||||||
Asset retirement obligations | — | 7,049 | — | 195 | — | 7,244 | |||||||||||||||||||
Long-term debt, net | — | 399,220 | — | — | — | 399,220 | |||||||||||||||||||
Intercompany note payable | — | 5,568 | — | — | (5,568 | ) | — | ||||||||||||||||||
Deferred tax liability | — | — | — | 8 | — | 8 | |||||||||||||||||||
Other long-term liabilities | — | 31,828 | — | 579 | — | 32,407 | |||||||||||||||||||
Total liabilities | — | 498,482 | — | 8,518 | (8,530 | ) | 498,470 | ||||||||||||||||||
(Deficit) equity | (240,416 | ) | (240,416 | ) | 15,555 | 23,738 | 201,123 | (240,416 | ) | ||||||||||||||||
Total liabilities and (deficit) equity | $ | (240,416 | ) | $ | 258,066 | $ | 15,555 | $ | 32,256 | $ | 192,593 | $ | 258,054 | ||||||||||||
Condensed Consolidating Balance Sheet Information | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non- | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Guarantor | |||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 11,995 | $ | — | $ | 4,674 | $ | — | $ | 16,669 | |||||||||||||
Accounts receivable, net | — | 28,099 | — | 10,811 | — | 38,910 | |||||||||||||||||||
Intercompany accounts receivable | — | 2,671 | — | — | (2,671 | ) | — | ||||||||||||||||||
Inventory | — | 15,414 | — | 2,896 | — | 18,310 | |||||||||||||||||||
Income tax receivable | — | 297 | — | 28 | — | 325 | |||||||||||||||||||
Deferred tax assets | — | — | — | 18 | — | 18 | |||||||||||||||||||
Other current assets | — | 2,906 | — | 181 | — | 3,087 | |||||||||||||||||||
Total current assets | — | 61,382 | — | 18,608 | (2,671 | ) | 77,319 | ||||||||||||||||||
Property, plant and equipment, net | — | 76,068 | 15,615 | 5,970 | — | 97,653 | |||||||||||||||||||
Capitalized software development costs, net | — | 1,468 | — | 2 | — | 1,470 | |||||||||||||||||||
Intangibles, net | — | 31,838 | — | 3,160 | — | 34,998 | |||||||||||||||||||
Goodwill | — | 15,714 | — | — | — | 15,714 | |||||||||||||||||||
Deferred financing costs | — | 9,639 | — | — | — | 9,639 | |||||||||||||||||||
Deferred tax assets | — | — | — | 15 | — | 15 | |||||||||||||||||||
Investment in subsidiaries | (237,088 | ) | 40,289 | — | — | 196,799 | — | ||||||||||||||||||
Intercompany note receivable | — | — | — | 5,396 | (5,396 | ) | — | ||||||||||||||||||
Other long-term assets | — | 22,370 | — | 207 | — | 22,577 | |||||||||||||||||||
Total assets | $ | (237,088 | ) | $ | 258,768 | $ | 15,615 | $ | 33,358 | $ | 188,732 | $ | 259,385 | ||||||||||||
Liabilities and (deficit) equity: | |||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||
Line of credit | $ | — | $ | 8,000 | $ | — | $ | — | $ | — | $ | 8,000 | |||||||||||||
Accounts payable | — | 16,672 | — | 1,431 | — | 18,103 | |||||||||||||||||||
Intercompany accounts payable | — | — | — | 2,671 | (2,671 | ) | — | ||||||||||||||||||
Accrued expenses and other liabilities | — | 21,409 | — | 4,083 | — | 25,492 | |||||||||||||||||||
Deferred tax liability | — | — | — | 57 | — | 57 | |||||||||||||||||||
Deferred revenue | — | 3,979 | — | — | — | 3,979 | |||||||||||||||||||
Total current liabilities | — | 50,060 | — | 8,242 | (2,671 | ) | 55,631 | ||||||||||||||||||
Asset retirement obligations | — | 6,212 | — | 173 | — | 6,385 | |||||||||||||||||||
Long-term debt, net | — | 399,037 | — | — | — | 399,037 | |||||||||||||||||||
Intercompany note payable | — | 5,396 | — | — | (5,396 | ) | — | ||||||||||||||||||
Deferred tax liability | — | — | — | 12 | — | 12 | |||||||||||||||||||
Other long-term liabilities | — | 35,151 | — | 257 | — | 35,408 | |||||||||||||||||||
Total liabilities | — | 495,856 | — | 8,684 | (8,067 | ) | 496,473 | ||||||||||||||||||
(Deficit) equity | (237,088 | ) | (237,088 | ) | 15,615 | 24,674 | 196,799 | (237,088 | ) | ||||||||||||||||
Total liabilities and (deficit) equity | $ | (237,088 | ) | $ | 258,768 | $ | 15,615 | $ | 33,358 | $ | 188,732 | $ | 259,385 | ||||||||||||
Schedule of Condensed Consolidating Statement of Comprehensive Income (Loss) | ' | ||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Revenues | $ | — | $ | 66,927 | $ | — | $ | 13,637 | $ | (4,882 | ) | $ | 75,682 | ||||||||||||
Cost of goods sold | — | 36,243 | — | 12,683 | (4,882 | ) | 44,044 | ||||||||||||||||||
Gross profit | — | 30,684 | — | 954 | — | 31,638 | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||
Sales and marketing expenses | — | 7,462 | — | 865 | — | 8,327 | |||||||||||||||||||
General and administrative expenses | — | 8,222 | 20 | 480 | — | 8,722 | |||||||||||||||||||
Research and development expenses | — | 2,953 | — | 96 | — | 3,049 | |||||||||||||||||||
Operating income (loss) | — | 12,047 | (20 | ) | (487 | ) | — | 11,540 | |||||||||||||||||
Interest expense, net | — | (10,649 | ) | — | 64 | — | (10,585 | ) | |||||||||||||||||
Other income, net | — | 305 | — | 136 | — | 441 | |||||||||||||||||||
Equity in earnings (losses) of affiliates | 1,452 | (497 | ) | — | — | (955 | ) | — | |||||||||||||||||
Income (loss) before income taxes | 1,452 | 1,206 | (20 | ) | (287 | ) | (955 | ) | 1,396 | ||||||||||||||||
(Benefit) provision for income taxes | — | (246 | ) | — | 190 | — | (56 | ) | |||||||||||||||||
Net income (loss) | 1,452 | 1,452 | (20 | ) | (477 | ) | (955 | ) | 1,452 | ||||||||||||||||
Foreign currency translation | — | — | — | (671 | ) | — | (671 | ) | |||||||||||||||||
Equity in other comprehensive (loss) income of subsidiaries | (671 | ) | (671 | ) | — | — | 1,342 | — | |||||||||||||||||
Total comprehensive income (loss) | $ | 781 | $ | 781 | $ | (20 | ) | $ | (1,148 | ) | $ | 387 | $ | 781 | |||||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Revenues | $ | — | $ | 59,416 | $ | — | $ | 15,372 | $ | (4,403 | ) | $ | 70,385 | ||||||||||||
Cost of goods sold | — | 35,859 | — | 15,208 | (4,403 | ) | 46,664 | ||||||||||||||||||
Gross profit | — | 23,557 | — | 164 | — | 23,721 | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||
Sales and marketing expenses | — | 7,641 | — | 835 | — | 8,476 | |||||||||||||||||||
General and administrative expenses | — | 6,585 | 20 | 527 | — | 7,132 | |||||||||||||||||||
Research and development expenses | — | 5,779 | — | 114 | — | 5,893 | |||||||||||||||||||
Impairment of land | — | — | 6,788 | — | — | 6,788 | |||||||||||||||||||
Operating income (loss) | — | 3,552 | (6,808 | ) | (1,312 | ) | — | (4,568 | ) | ||||||||||||||||
Interest expense, net | — | (11,083 | ) | — | 48 | — | (11,035 | ) | |||||||||||||||||
Other income (expense), net | — | 409 | — | (149 | ) | — | 260 | ||||||||||||||||||
Equity in earnings (losses) of affiliates | (15,064 | ) | (8,197 | ) | — | — | 23,261 | — | |||||||||||||||||
Income (loss) before income taxes | (15,064 | ) | (15,319 | ) | (6,808 | ) | (1,413 | ) | 23,261 | (15,343 | ) | ||||||||||||||
(Benefit) provision for income taxes | — | (255 | ) | — | (24 | ) | — | (279 | ) | ||||||||||||||||
Net income (loss) | (15,064 | ) | (15,064 | ) | (6,808 | ) | (1,389 | ) | 23,261 | (15,064 | ) | ||||||||||||||
Foreign currency translation | — | — | — | 417 | — | 417 | |||||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | 417 | 417 | — | — | (834 | ) | — | ||||||||||||||||||
Total comprehensive income (loss) | $ | (14,647 | ) | $ | (14,647 | ) | $ | (6,808 | ) | $ | (972 | ) | $ | 22,427 | $ | (14,647 | ) | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Revenues | $ | — | $ | 196,435 | $ | — | $ | 42,067 | $ | (13,871 | ) | $ | 224,631 | ||||||||||||
Cost of goods sold | — | 108,111 | — | 37,633 | (13,871 | ) | 131,873 | ||||||||||||||||||
Gross profit | — | 88,324 | — | 4,434 | — | 92,758 | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||
Sales and marketing expenses | — | 24,466 | — | 2,761 | — | 27,227 | |||||||||||||||||||
General and administrative expenses | — | 24,822 | 60 | 1,682 | — | 26,564 | |||||||||||||||||||
Research and development expenses | — | 8,656 | — | 302 | — | 8,958 | |||||||||||||||||||
Operating income (loss) | — | 30,380 | (60 | ) | (311 | ) | — | 30,009 | |||||||||||||||||
Interest expense, net | — | (31,896 | ) | — | 192 | — | (31,704 | ) | |||||||||||||||||
Other income (expense), net | — | 80 | — | (228 | ) | — | (148 | ) | |||||||||||||||||
Equity in earnings (losses) of affiliates | (1,469 | ) | (657 | ) | — | — | 2,126 | — | |||||||||||||||||
Income (loss) before income taxes | (1,469 | ) | (2,093 | ) | (60 | ) | (347 | ) | 2,126 | (1,843 | ) | ||||||||||||||
(Benefit) provision for income taxes | — | (624 | ) | — | 250 | — | (374 | ) | |||||||||||||||||
Net income (loss) | (1,469 | ) | (1,469 | ) | (60 | ) | (597 | ) | 2,126 | (1,469 | ) | ||||||||||||||
Foreign currency translation | — | — | — | (339 | ) | — | (339 | ) | |||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | (339 | ) | (339 | ) | — | — | 678 | — | |||||||||||||||||
Total comprehensive income (loss) | $ | (1,808 | ) | $ | (1,808 | ) | $ | (60 | ) | $ | (936 | ) | $ | 2,804 | $ | (1,808 | ) | ||||||||
Condensed Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
(in thousands) | Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Revenues | $ | — | $ | 180,453 | $ | — | $ | 47,228 | $ | (15,677 | ) | $ | 212,004 | ||||||||||||
Cost of goods sold | — | 115,962 | — | 44,239 | (15,677 | ) | 144,524 | ||||||||||||||||||
Gross profit | — | 64,491 | — | 2,989 | — | 67,480 | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||
Sales and marketing expenses | — | 24,564 | — | 2,702 | — | 27,266 | |||||||||||||||||||
General and administrative expenses | — | 23,844 | 60 | 1,774 | — | 25,678 | |||||||||||||||||||
Research and development expenses | — | 25,200 | — | 228 | — | 25,428 | |||||||||||||||||||
Impairment of land | — | — | 6,788 | — | — | 6,788 | |||||||||||||||||||
Operating loss | — | (9,117 | ) | (6,848 | ) | (1,715 | ) | — | (17,680 | ) | |||||||||||||||
Interest expense, net | — | (32,458 | ) | — | 135 | — | (32,323 | ) | |||||||||||||||||
Other income (expense), net | — | 1,039 | — | (145 | ) | — | 894 | ||||||||||||||||||
Equity in earnings (losses) of affiliates | (49,376 | ) | (8,552 | ) | — | — | 57,928 | — | |||||||||||||||||
Income (loss) before income taxes | (49,376 | ) | (49,088 | ) | (6,848 | ) | (1,725 | ) | 57,928 | (49,109 | ) | ||||||||||||||
(Benefit) provision for income taxes | — | 288 | — | (21 | ) | — | 267 | ||||||||||||||||||
Net income (loss) | (49,376 | ) | (49,376 | ) | (6,848 | ) | (1,704 | ) | 57,928 | (49,376 | ) | ||||||||||||||
Foreign currency translation | — | — | — | (1,176 | ) | — | (1,176 | ) | |||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | (1,176 | ) | (1,176 | ) | — | — | 2,352 | — | |||||||||||||||||
Total comprehensive income (loss) | $ | (50,552 | ) | $ | (50,552 | ) | $ | (6,848 | ) | $ | (2,880 | ) | $ | 60,280 | $ | (50,552 | ) | ||||||||
Schedule of Condensed Consolidating Cash Flow Information | ' | ||||||||||||||||||||||||
Condensed Consolidating Cash Flow Information | |||||||||||||||||||||||||
Nine Months September September 30, 2014 | |||||||||||||||||||||||||
Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | ||||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Cash provided by operating activities | $ | — | $ | 14,614 | $ | — | $ | 834 | $ | — | $ | 15,448 | |||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||
Capital expenditures | — | (5,011 | ) | — | (292 | ) | — | (5,303 | ) | ||||||||||||||||
Payments from subsidiary | 1,741 | — | — | — | (1,741 | ) | — | ||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | 227 | — | — | — | 227 | |||||||||||||||||||
Redemption of certificate of deposit-restricted | — | 228 | — | — | — | 228 | |||||||||||||||||||
Cash provided by (used in) investing activities | 1,741 | (4,556 | ) | — | (292 | ) | (1,741 | ) | (4,848 | ) | |||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||
Proceeds from line of credit | — | 5,500 | — | — | — | 5,500 | |||||||||||||||||||
Payments on line of credit | — | (5,500 | ) | — | — | — | (5,500 | ) | |||||||||||||||||
Payments on note payable | — | (52 | ) | — | — | — | (52 | ) | |||||||||||||||||
Deferred financing costs | — | (139 | ) | — | — | — | (139 | ) | |||||||||||||||||
Payments to parent | (1,741 | ) | (1,741 | ) | — | — | 1,741 | (1,741 | ) | ||||||||||||||||
Cash provided by (used in) financing activities | (1,741 | ) | (1,932 | ) | — | — | 1,741 | (1,932 | ) | ||||||||||||||||
Effect of foreign exchange rate on cash | — | — | — | (132 | ) | — | (132 | ) | |||||||||||||||||
Increase (decrease) in cash and cash equivalents | — | 8,126 | — | 410 | — | 8,536 | |||||||||||||||||||
Cash and cash equivalents, beginning of period | — | 11,995 | — | 4,674 | — | 16,669 | |||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 20,121 | $ | — | $ | 5,084 | $ | — | $ | 25,205 | |||||||||||||
Condensed Consolidating Cash Flow Information | |||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
Lantheus | LMI | Guarantor | Non-Guarantor | Eliminations | Total | ||||||||||||||||||||
Intermediate | Subsidiary | Subsidiaries | |||||||||||||||||||||||
Cash provided by (used in) operating activities | $ | — | $ | (13,054 | ) | $ | — | $ | 2,970 | $ | (1,738 | ) | $ | (11,822 | ) | ||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||
Capital expenditures | — | (3,621 | ) | — | (90 | ) | — | (3,711 | ) | ||||||||||||||||
Intercompany note | — | — | — | (2,249 | ) | 2,249 | — | ||||||||||||||||||
Proceeds from dividend | — | 4,174 | — | — | (4,174 | ) | — | ||||||||||||||||||
Cash provided by (used in) investing activities | — | 553 | — | (2,339 | ) | (1,925 | ) | (3,711 | ) | ||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||
Proceeds from line of credit | — | 8,000 | — | — | — | 8,000 | |||||||||||||||||||
Payments on note payable | — | (1,174 | ) | — | — | — | (1,174 | ) | |||||||||||||||||
Deferred financing costs | — | (1,188 | ) | — | — | — | (1,188 | ) | |||||||||||||||||
Payments from parent | — | 111 | — | — | — | 111 | |||||||||||||||||||
Intercompany note | — | 2,249 | — | — | (2,249 | ) | — | ||||||||||||||||||
Payment of dividend | — | — | — | (5,912 | ) | 5,912 | — | ||||||||||||||||||
Cash provided by (used in) financing activities | — | 7,998 | — | (5,912 | ) | 3,663 | 5,749 | ||||||||||||||||||
Effect of foreign exchange rate on cash | — | — | — | (949 | ) | — | (949 | ) | |||||||||||||||||
Increase (decrease) in cash and cash equivalents | — | (4,503 | ) | — | (6,230 | ) | — | (10,733 | ) | ||||||||||||||||
Cash and cash equivalents, beginning of period | — | 17,635 | — | 13,960 | — | 31,595 | |||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 13,132 | $ | — | $ | 7,730 | $ | — | $ | 20,862 |
Business_Overview_Additional_I
Business Overview - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 0 Months Ended | ||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
Item | Item | Revolving Line of Credit [Member] | Revolving Line of Credit [Member] | Minimum [Member] | Neurolite [Member] | Cardiolite [Member] | Definity and Cardiolite [Member] | ||||
Item | Item | Item | Item | ||||||||
Business Overview | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of commercial products | 10 | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of radiopharmacies distributions | 350 | ' | 350 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of radiopharmacies owned | 9 | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | $1,452,000 | ($15,064,000) | ($1,469,000) | ($49,376,000) | ($61,678,000) | ' | ' | ' | ' | ' | ' |
Accumulated deficit | -239,807,000 | ' | -239,807,000 | ' | -238,338,000 | ' | ' | ' | ' | ' | ' |
Number of manufacturers | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 2 |
Number of supplier | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Borrowing Base | ' | ' | ' | ' | ' | 47,500,000 | ' | ' | ' | ' | ' |
Unfunded Standby Letter of Credit outstanding | ' | ' | ' | ' | ' | 8,800,000 | 8,800,000 | ' | ' | ' | ' |
Amount outstanding | ' | ' | ' | ' | ' | 8,100,000 | ' | ' | ' | ' | ' |
Available Borrowing capacity | ' | ' | ' | ' | ' | $30,600,000 | ' | ' | ' | ' | ' |
Number of strategic partners to engage with for further development and commercialization of development candidates | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' |
Number of other development candidates for which strategic partners to assist with the on-going development activities | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Event | Event | |||||
Method | ||||||
Schedule Of Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' |
Cost of goods sold | $44,044,000 | $46,664,000 | ' | $131,873,000 | $144,524,000 | ' |
Capitalized inventories | ' | ' | ' | 0 | ' | 0 |
Goodwill impairment | ' | ' | 0 | ' | ' | ' |
Number of events that triggered an interim impairment test | ' | ' | ' | 0 | ' | 0 |
Number of methods utilized to derive the fair value of the business | ' | ' | ' | 2 | ' | ' |
Neurolite [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' |
Cost of goods sold | ' | ' | ' | $1,700,000 | ' | ' |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Schedule of the Information about the Company's Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) (Recurring Basis [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Total Fair Value [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and cash equivalents, fair value | $2,192 | $1,236 |
Restricted investments | 93 | 322 |
Total | 2,285 | 1,558 |
Quoted Prices in Active Markets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and cash equivalents, fair value | 2,192 | 1,236 |
Restricted investments | ' | ' |
Total | 2,192 | 1,236 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and cash equivalents, fair value | ' | ' |
Restricted investments | 93 | 322 |
Total | 93 | 322 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and cash equivalents, fair value | ' | ' |
Restricted investments | ' | ' |
Total | ' | ' |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value Asset Measured On Recurring Basis [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, carrying value | $25,205,000 | $16,669,000 | $20,862,000 | $31,595,000 |
Face value of debt | 400,000,000 | 400,000,000 | ' | ' |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' | ' |
Fair Value Asset Measured On Recurring Basis [Line Items] | ' | ' | ' | ' |
Estimated fair value of the debt | 392,000,000 | 356,000,000 | ' | ' |
Money Market Funds [Member] | ' | ' | ' | ' |
Fair Value Asset Measured On Recurring Basis [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, carrying value | 2,200,000 | 1,200,000 | ' | ' |
Cash-On-Hand [Member] | ' | ' | ' | ' |
Fair Value Asset Measured On Recurring Basis [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, carrying value | 23,000,000 | 15,500,000 | ' | ' |
Certificates of Deposit [Member] | ' | ' | ' | ' |
Fair Value Asset Measured On Recurring Basis [Line Items] | ' | ' | ' | ' |
Restricted investments, current | 200,000 | 200,000 | ' | ' |
Restricted investments, noncurrent | $100,000 | $100,000 | ' | ' |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Tax [Line Items] | ' | ' | ' | ' |
Provision (benefit) for income taxes | ($56,000) | ($279,000) | ($374,000) | $267,000 |
Tax benefit recognized with the reversal of uncertain tax positions upon expiration of statute of limitations for 2010 U.S. tax return | 900,000 | ' | 2,700,000 | ' |
Tax benefit recognized with the reversal of uncertain tax positions upon expiration of statute of limitations for 2009 U.S. tax return | ' | 800,000 | ' | 800,000 |
Amount of unrecognized tax benefits primarily relating to transfer pricing which may be recognized within the next twelve months due to the closing of the statute of limitation | 400,000 | ' | 400,000 | ' |
BMS [Member] | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' |
Net effect on earnings related to deferred tax liabilities | ' | ' | 0 | ' |
Net effect on cash flow related to deferred tax liabilities | ' | ' | 0 | ' |
Settlement expense | ' | ' | $6,300,000 | ' |
Inventory_Schedule_of_Inventor
Inventory - Schedule of Inventory, Classified in Inventory or Other Long-term Assets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $5,713 | $7,063 |
Work in process | 4,410 | 5,849 |
Finished goods | 6,302 | 5,398 |
Inventory | 16,425 | 18,310 |
Other long-term assets | 1,406 | 1,687 |
Total | $17,831 | $19,997 |
Inventory_Additional_Informati
Inventory - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Non-current raw materials | $1.20 | $1.70 |
Non-current finished goods | $0.20 | ' |
Property_Plant_and_Equipment_n2
Property, Plant and Equipment, net - Schedule of Property, Plant and Equipment (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Accumulated depreciation | ($59,342) | ($56,139) |
Property, plant and equipment, net | 96,072 | 97,653 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' |
Property, plant and equipment, gross | 14,950 | 14,950 |
Buildings [Member] | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' |
Property, plant and equipment, gross | 67,470 | 65,787 |
Machinery, Equipment and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' |
Property, plant and equipment, gross | 65,556 | 65,026 |
Construction in Progress [Member] | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' |
Property, plant and equipment, gross | $7,438 | $8,029 |
Property_Plant_and_Equipment_n3
Property, Plant and Equipment, net - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Depreciation expense | $2,200,000 | ' | $2,300,000 | $6,500,000 | $7,100,000 |
Property, plant and equipment, net | 96,072,000 | 97,653,000 | ' | 96,072,000 | ' |
Impairment charge on assets held for sale | ' | ' | 6,788,000 | ' | 6,788,000 |
Net proceeds from sale of excess land | ' | 1,100,000 | 1,100,000 | ' | ' |
International [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Impairment charge on assets held for sale | ' | ' | 6,788,000 | ' | ' |
Spare Parts [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | 2,500,000 | 2,500,000 | ' | 2,500,000 | ' |
Fixed Assets Dedicated to R&D Activities [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, net | $5,200,000 | ' | ' | $5,200,000 | ' |
Asset_Retirement_Obligations_A
Asset Retirement Obligations - Additional Information (Detail) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
Asset Retirement Obligation Disclosure [Abstract] | ' |
Financial assurance in form of surety bond | $28.20 |
Unfunded Standby Letter of Credit | 8.8 |
Asset retirement obligation liabilities expected present value | $26.60 |
Asset_Retirement_Obligations_S
Asset Retirement Obligations - Schedule of Reconciliation of Company's Asset Retirement Obligations (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Reconciliation of the asset retirement obligations | ' |
Balance at the beginning of the period | $6,385 |
Capitalization | 277 |
Accretion expense | 582 |
Balance at the end of the period | $7,244 |
Intangibles_Net_Schedule_of_In
Intangibles, Net - Schedule of Intangibles, Net (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | $162,262 | $162,618 |
Accumulated amortization | 133,059 | 127,620 |
Net | 29,203 | 34,998 |
Trademarks [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 13,540 | 13,540 |
Accumulated amortization | 4,662 | 3,298 |
Net | 8,878 | 10,242 |
Amortization Method | 'Straight-line | 'Straight-line |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 105,942 | 106,298 |
Accumulated amortization | 88,094 | 84,476 |
Net | 17,848 | 21,822 |
Amortization Method | 'Accelerated | 'Accelerated |
Other Patents [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 42,780 | 42,780 |
Accumulated amortization | 40,303 | 39,846 |
Net | $2,477 | $2,934 |
Amortization Method | 'Straight-line | 'Straight-line |
Intangibles_Net_Additional_Inf
Intangibles, Net - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Impairment charges | ' | ' | ' | $1,034,000 |
Amortization expense | 1,900,000 | 3,600,000 | 5,700,000 | 10,800,000 |
Customer Relationships [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Impairment charges | ' | $1,000,000 | ' | $1,000,000 |
Intangibles_Net_Schedule_of_Ex
Intangibles, Net - Schedule of Expected Future Amortization Expense Related to Intangible Assets (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' |
Remainder of 2014 | $1,902 |
2015 | 6,021 |
2016 | 5,337 |
2017 | 3,521 |
2018 | 2,792 |
2019 and thereafter | 9,630 |
Total | $29,203 |
Accrued_Expenses_and_Other_Lia2
Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses and Other Liabilities (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Payables and Accruals [Abstract] | ' | ' |
Compensation and benefits | $10,875 | $10,209 |
Accrued interest | 14,719 | 4,989 |
Accrued professional fees | 1,713 | 1,361 |
Research and development services | 220 | 338 |
Freight, distribution and operations | 3,187 | 3,432 |
Accrued loss on firm purchase commitment | ' | 1,315 |
Marketing expense | 1,243 | 749 |
Accrued rebates, discounts and chargebacks | 2,729 | 1,739 |
Other | 402 | 1,360 |
Accrued expenses | $35,088 | $25,492 |
Accrued_Expenses_and_Other_Lia3
Accrued Expenses and Other Liabilities - Additional Information (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Accrued Expenses and other liabilities | ' |
Contract loss associated with the portion of the committed purchases | $1,315 |
Ablavar [Member] | ' |
Accrued Expenses and other liabilities | ' |
Contract loss associated with the portion of the committed purchases | $1,300 |
Financing_Arrangements_Additio
Financing Arrangements - Additional Information (Detail) (USD $) | 0 Months Ended | 9 Months Ended | |
In Millions, unless otherwise specified | Jun. 24, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Aggregate principal amount outstanding | ' | $400 | ' |
Notes interest rate (as a percent) | ' | 9.75% | ' |
Maturity of the notes | ' | 15-May-17 | ' |
Notes payment term, description | ' | 'The Notes bear interest at a rate of 9.750% per year, payable on May 15 and November 15 of each year. | ' |
Revolving Line of Credit [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Maturity of the notes | ' | 3-Jul-18 | ' |
Maximum borrowing capacity | 42.5 | ' | ' |
Amended maximum borrowing capacity | 50 | ' | ' |
Description of variable rate basis | ' | 'On June 24, 2014, the Company executed an amendment to the Facility which, (i) increased the committed availability for total borrowings under the Facility from $42.5 million to $50.0 million, (ii) set the interest at LIBOR plus 2.00% or the Reference Rate (as defined in the agreement) plus 1.00%, (iii) set the unused line fee at 0.375%, and (iv) further modified certain definitions. | ' |
Unused line of credit fee (as a percent) | 0.38% | ' | ' |
Fees and expenses incurred in connection with amendment | ' | 0.2 | ' |
Period prior to maturity of senior notes on which credit facility expires | ' | '91 days | ' |
Debt instrument maturity description | ' | 'The Facility expires on the earlier of (i) July 3, 2018 or (ii) if the outstanding Notes are not refinanced in full, the date that is 91 days before the maturity thereof, at which time all outstanding borrowings are due and payable. | ' |
Unfunded Standby Letter of Credit outstanding | ' | 8.8 | 8.8 |
Letter of credit, expiration date | ' | 5-Feb-15 | ' |
Renewal period of unfunded standby letter of credit | ' | '1 year | ' |
Period required to notify in writing the cancellation of automatic renewal of debt instrument | ' | '60 days | ' |
Unfunded standby letter of credit payment term | ' | 'The unfunded Standby Letter of Credit requires an annual fee, payable quarterly, which is set at LIBOR plus a spread of 2.00% | ' |
Borrowing Base | ' | 47.5 | ' |
Amount outstanding | ' | 8.1 | ' |
Available Borrowing capacity | ' | $30.60 | ' |
Revolving Line of Credit [Member] | LIBOR [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Basis spread on variable rate (as a percent) | 2.00% | 2.00% | ' |
Revolving Line of Credit [Member] | Reference Rate [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Basis spread on variable rate (as a percent) | 1.00% | ' | ' |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Aug. 04, 2013 | Aug. 05, 2013 | Aug. 04, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | |
Liability-Based Awards [Member] | Liability-Based Awards [Member] | Performance Based Stock Options [Member] | 2008 Plan [Member] | 2013 Plan [Member] | 2013 Plan [Member] | Minimum [Member] | Maximum [Member] | |||||
Time Based Stock Options [Member] | Time Based Stock Options [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of further grants to be issued (in shares) | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Maximum number of shares that may be issued pursuant to awards | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | 1,500,000 | ' | ' |
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | '5 years |
Contractual term | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant-date fair value of options granted | ' | $2.53 | $2.08 | $2.45 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | $247,000 | $172,000 | $782,000 | $735,000 | $0 | $0 | ' | ' | ' | ' | ' | ' |
Income tax benefit | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized compensation costs | $2,100,000 | ' | $2,100,000 | ' | ' | ' | $1,000,000 | ' | ' | ' | ' | ' |
Weighted-average remaining period for recognition of unrecognized compensation costs | ' | ' | '1 year 3 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Schedu
Stock-Based Compensation - Schedule of Assumptions used for Estimating Fair Value of Each Option Award on Date of Grant using Black-Scholes Valuation Model (Detail) (Stock Options [Member]) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected volatility | ' | 36.00% | ' | 36.00% |
Expected volatility, minimum | ' | ' | 33.00% | ' |
Expected volatility, maximum | ' | ' | 35.00% | ' |
Expected dividends | ' | ' | ' | ' |
Expected life (in years) | ' | '6 years 3 months 18 days | ' | ' |
Risk-free interest rate | ' | 1.70% | ' | ' |
Risk-free interest rate, minimum | ' | ' | 1.50% | 0.70% |
Risk-free interest rate, maximum | ' | ' | 1.90% | 1.70% |
Minimum [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected life (in years) | ' | ' | '5 years 6 months | '5 years 6 months |
Maximum [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected life (in years) | ' | ' | '6 years 3 months 18 days | '6 years 3 months 18 days |
StockBased_Compensation_Schedu1
Stock-Based Compensation - Schedule of Option Activity (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Stock Options [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Options Outstanding, beginning balance | 3,858,462 | ' |
Options granted | 74,664 | ' |
Options cancelled | -28,452 | ' |
Options exercised | -6,237 | ' |
Options forfeited or expired | -38,880 | ' |
Options Outstanding, ending balance | 3,859,557 | 3,858,462 |
Vested and expected to vest | 3,417,442 | ' |
Exercisable | 2,363,695 | ' |
Options Outstanding, beginning balance, Weighted Average Exercise Price | $4.89 | ' |
Options granted, Weighted Average Exercise Price | $5.98 | ' |
Options cancelled, Weighted Average Exercise Price | $4.88 | ' |
Options exercised, Weighted Average Exercise Price | $2 | ' |
Options forfeited or expired, Weighted Average Exercise Price | $7.29 | ' |
Options Outstanding, ending balance, Weighted Average Exercise Price | $4.89 | $4.89 |
Vested and expected to vest, Weighted Average Exercise Price | $4.64 | ' |
Exercisable, Weighted Average Exercise Price | $3.58 | ' |
Options Outstanding, Weighted Average Remaining Contractual Term | '6 years 2 months 12 days | '6 years 10 months 24 days |
Vested and expected to vest, Weighted Average Remaining Contractual Term | '5 years 10 months 24 days | ' |
Exercisable, Weighted Average Remaining Contractual Term | '4 years 8 months 12 days | ' |
Options Outstanding, Aggregate Intrinsic Value | $3,979,000 | $6,777,000 |
Vested and expected to vest, Aggregate Intrinsic Value | 3,979,000 | ' |
Exercisable, Aggregate Intrinsic Value | $3,979,000 | ' |
Time Based Stock Options [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Options Outstanding, beginning balance | 2,761,037 | ' |
Options granted | 74,664 | ' |
Options cancelled | -21,500 | ' |
Options exercised | -4,500 | ' |
Options forfeited or expired | -31,000 | ' |
Options Outstanding, ending balance | 2,778,701 | ' |
Vested and expected to vest | 2,715,687 | ' |
Exercisable | 1,815,393 | ' |
Performance Based Stock Options [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Options Outstanding, beginning balance | 1,097,425 | ' |
Options cancelled | -6,952 | ' |
Options exercised | -1,737 | ' |
Options forfeited or expired | -7,880 | ' |
Options Outstanding, ending balance | 1,080,856 | ' |
Vested and expected to vest | 701,755 | ' |
Exercisable | 548,302 | ' |
StockBased_Compensation_Schedu2
Stock-Based Compensation - Schedule of Stock-Based Compensation Expense Recognized (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | $247 | $172 | $782 | $735 |
Cost of Goods Sold [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 32 | 26 | 104 | 56 |
Sales and Marketing [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 34 | 46 | 116 | 86 |
General and Administrative [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 151 | 62 | 474 | 553 |
Research and Development [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | $30 | $38 | $88 | $40 |
Other_Expense_Income_Net_Sched
Other (Expense) Income, Net - Schedule of Other (Expense) Income, Net (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Other Income and Expenses [Abstract] | ' | ' | ' | ' |
Foreign currency (losses) gains | $82 | ($174) | ($311) | ($180) |
Tax indemnification income | 359 | 434 | 163 | 706 |
Other income | ' | ' | ' | 368 |
Total other income (expense), net | $441 | $260 | ($148) | $894 |
Legal_Proceedings_and_Continge1
Legal Proceedings and Contingencies - Additional Information (Detail) (Claim Against Insurance Carriers to Recover Business Interruption Losses [Member]) | 0 Months Ended |
Dec. 16, 2010 | |
Lawsuits | |
Claim Against Insurance Carriers to Recover Business Interruption Losses [Member] | ' |
Gain Contingencies [Line Items] | ' |
Number of suits filed | 1 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Purchases included in accounts payable and accrued expenses | $15,383,000 | ' | $15,383,000 | ' | $18,103,000 |
Due from related party, accounts receivable, net | ' | ' | ' | ' | ' |
INC [Member] | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Due from parent | 0 | ' | 0 | ' | 0 |
Costs incurred associated with agreement | 0 | 0 | 0 | 500,000 | ' |
Agreement term | '5 years | ' | ' | ' | ' |
LMI [Member] | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Due from parent | 3,600,000 | ' | 3,600,000 | ' | 1,300,000 |
VWR [Member] | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Expected payment to related party | 100,000 | 100,000 | 200,000 | 200,000 | ' |
Purchases included in accounts payable and accrued expenses | 20,000 | ' | 20,000 | ' | 1,000 |
Marsh [Member] | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Expected payment to related party | ' | ' | 300,000 | ' | ' |
Prepaid expense due to related party | 43,000 | ' | 43,000 | ' | 43,000 |
Officer [Member] | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Due from related party, accounts receivable, net | ' | ' | ' | ' | 100,000 |
Avista [Member] | Advisory Services and Monitoring Agreement [Member] | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Annual fee required to be paid | 1,000,000 | ' | 1,000,000 | ' | ' |
Costs incurred associated with agreement | 300,000 | 300,000 | 800,000 | 800,000 | ' |
Purchases included in accrued expenses | $16,000 | ' | $16,000 | ' | $30,000 |
Agreement term | '7 years | ' | ' | ' | ' |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Segment | U.S. [Member] | U.S. [Member] | U.S. [Member] | U.S. [Member] | U.S. [Member] | U.S. [Member] | |
Consolidated Revenues [Member] | Consolidated Revenues [Member] | Consolidated Revenues [Member] | Consolidated Revenues [Member] | Consolidated Assets [Member] | Consolidated Assets [Member] | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number of operating segments | 2 | ' | ' | ' | ' | ' | ' |
Concentration risk percentage | ' | 78.50% | 73.90% | 77.80% | 74.80% | 90.10% | 89.80% |
Segment_Information_Schedule_o
Segment Information - Schedule of Selected Information for Each Business Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Revenues | ' | ' | ' | ' | ' |
Revenues | $75,682 | $70,385 | $224,631 | $212,004 | ' |
Operating income (loss) | ' | ' | ' | ' | ' |
Operating income (loss) | 11,540 | -4,568 | 30,009 | -17,680 | ' |
Interest expense, net | -10,585 | -11,035 | -31,704 | -32,323 | ' |
Other income (expense), net | 441 | 260 | -148 | 894 | ' |
Income (loss) before income taxes | 1,396 | -15,343 | -1,843 | -49,109 | ' |
Total Assets | ' | ' | ' | ' | ' |
Total Assets | 258,054 | ' | 258,054 | ' | 259,385 |
U.S. [Member] | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Revenues | 59,429 | 52,004 | 174,808 | 158,490 | ' |
Total Assets | ' | ' | ' | ' | ' |
Total Assets | 232,491 | ' | 232,491 | ' | 232,973 |
International [Member] | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Revenues | 16,253 | 18,381 | 49,823 | 53,514 | ' |
Total Assets | ' | ' | ' | ' | ' |
Total Assets | 25,563 | ' | 25,563 | ' | 26,412 |
Operating Segments [Member] | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Revenues | 80,564 | 74,788 | 238,502 | 227,681 | ' |
Operating income (loss) | ' | ' | ' | ' | ' |
Operating income (loss) | 11,502 | -5,170 | 29,583 | -17,501 | ' |
Operating Segments [Member] | U.S. [Member] | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Revenues | 64,311 | 56,407 | 188,679 | 174,167 | ' |
Operating income (loss) | ' | ' | ' | ' | ' |
Operating income (loss) | 10,493 | -5,116 | 25,930 | -18,414 | ' |
Operating Segments [Member] | International [Member] | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Revenues | 16,253 | 18,381 | 49,823 | 53,514 | ' |
Operating income (loss) | ' | ' | ' | ' | ' |
Operating income (loss) | 1,009 | -54 | 3,653 | 913 | ' |
Inter-Segment [Member] | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Revenues | -4,882 | -4,403 | -13,871 | -15,677 | ' |
Operating income (loss) | ' | ' | ' | ' | ' |
Operating income (loss) | $38 | $602 | $426 | ($179) | ' |
Guarantor_Financial_Informatio2
Guarantor Financial Information - Additional Information (Detail) (Guarantor Subsidiary [Member]) | 9 Months Ended |
Sep. 30, 2014 | |
Subsidiaries | |
Guarantor Subsidiary [Member] | ' |
Condensed Financial Statements, Captions [Line Items] | ' |
Number of guarantor subsidiaries | 1 |
Guarantor_Financial_Informatio3
Guarantor Financial Information - Schedule of Condensed Consolidating Balance Sheet Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | $25,205 | $16,669 | $20,862 | $31,595 |
Accounts receivable, net | 41,160 | 38,910 | ' | ' |
Intercompany accounts receivable | ' | ' | ' | ' |
Inventory | 16,425 | 18,310 | ' | ' |
Income tax receivable | 448 | 325 | ' | ' |
Deferred tax assets | 12 | 18 | ' | ' |
Other current assets | 4,181 | 3,087 | ' | ' |
Total current assets | 87,431 | 77,319 | ' | ' |
Property, plant and equipment, net | 96,072 | 97,653 | ' | ' |
Capitalized software development costs, net | 1,829 | 1,470 | ' | ' |
Intangibles, net | 29,203 | 34,998 | ' | ' |
Goodwill | 15,714 | 15,714 | ' | ' |
Deferred financing costs | 7,969 | 9,639 | ' | ' |
Deferred tax assets | 45 | 15 | ' | ' |
Investment in subsidiaries | ' | ' | ' | ' |
Intercompany note receivable | ' | ' | ' | ' |
Other long-term assets | 19,791 | 22,577 | ' | ' |
Total assets | 258,054 | 259,385 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Line of credit | 8,000 | 8,000 | ' | ' |
Accounts payable | 15,383 | 18,103 | ' | ' |
Intercompany accounts payable | ' | ' | ' | ' |
Accrued expenses and other liabilities | 35,088 | 25,492 | ' | ' |
Deferred tax liability | 57 | 57 | ' | ' |
Deferred revenue | 1,063 | 3,979 | ' | ' |
Total current liabilities | 59,591 | 55,631 | ' | ' |
Asset retirement obligations | 7,244 | 6,385 | ' | ' |
Long-term debt, net | 399,220 | 399,037 | ' | ' |
Intercompany note payable | ' | ' | ' | ' |
Deferred tax liability | 8 | 12 | ' | ' |
Other long-term liabilities | 32,407 | 35,408 | ' | ' |
Total liabilities | 498,470 | 496,473 | ' | ' |
(Deficit) equity | -240,416 | -237,088 | ' | -174,353 |
Total liabilities and stockholder's deficit | 258,054 | 259,385 | ' | ' |
Reportable Entities [Member] | Lantheus Intermediate [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Accounts receivable, net | ' | ' | ' | ' |
Intercompany accounts receivable | ' | ' | ' | ' |
Inventory | ' | ' | ' | ' |
Income tax receivable | ' | ' | ' | ' |
Deferred tax assets | ' | ' | ' | ' |
Other current assets | ' | ' | ' | ' |
Total current assets | ' | ' | ' | ' |
Property, plant and equipment, net | ' | ' | ' | ' |
Capitalized software development costs, net | ' | ' | ' | ' |
Intangibles, net | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' |
Deferred financing costs | ' | ' | ' | ' |
Deferred tax assets | ' | ' | ' | ' |
Investment in subsidiaries | -240,416 | -237,088 | ' | ' |
Intercompany note receivable | ' | ' | ' | ' |
Other long-term assets | ' | ' | ' | ' |
Total assets | -240,416 | -237,088 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Line of credit | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | ' |
Intercompany accounts payable | ' | ' | ' | ' |
Accrued expenses and other liabilities | ' | ' | ' | ' |
Deferred tax liability | ' | ' | ' | ' |
Deferred revenue | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | ' |
Asset retirement obligations | ' | ' | ' | ' |
Long-term debt, net | ' | ' | ' | ' |
Intercompany note payable | ' | ' | ' | ' |
Deferred tax liability | ' | ' | ' | ' |
Other long-term liabilities | ' | ' | ' | ' |
Total liabilities | ' | ' | ' | ' |
(Deficit) equity | -240,416 | -237,088 | ' | ' |
Total liabilities and stockholder's deficit | -240,416 | -237,088 | ' | ' |
Reportable Entities [Member] | LMI [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 20,121 | 11,995 | 13,132 | 17,635 |
Accounts receivable, net | 30,611 | 28,099 | ' | ' |
Intercompany accounts receivable | 2,962 | 2,671 | ' | ' |
Inventory | 13,500 | 15,414 | ' | ' |
Income tax receivable | 423 | 297 | ' | ' |
Deferred tax assets | ' | ' | ' | ' |
Other current assets | 3,916 | 2,906 | ' | ' |
Total current assets | 71,533 | 61,382 | ' | ' |
Property, plant and equipment, net | 75,510 | 76,068 | ' | ' |
Capitalized software development costs, net | 1,828 | 1,468 | ' | ' |
Intangibles, net | 26,628 | 31,838 | ' | ' |
Goodwill | 15,714 | 15,714 | ' | ' |
Deferred financing costs | 7,969 | 9,639 | ' | ' |
Deferred tax assets | ' | ' | ' | ' |
Investment in subsidiaries | 39,293 | 40,289 | ' | ' |
Intercompany note receivable | ' | ' | ' | ' |
Other long-term assets | 19,591 | 22,370 | ' | ' |
Total assets | 258,066 | 258,768 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Line of credit | 8,000 | 8,000 | ' | ' |
Accounts payable | 13,810 | 16,672 | ' | ' |
Intercompany accounts payable | ' | ' | ' | ' |
Accrued expenses and other liabilities | 31,944 | 21,409 | ' | ' |
Deferred tax liability | ' | ' | ' | ' |
Deferred revenue | 1,063 | 3,979 | ' | ' |
Total current liabilities | 54,817 | 50,060 | ' | ' |
Asset retirement obligations | 7,049 | 6,212 | ' | ' |
Long-term debt, net | 399,220 | 399,037 | ' | ' |
Intercompany note payable | 5,568 | 5,396 | ' | ' |
Deferred tax liability | ' | ' | ' | ' |
Other long-term liabilities | 31,828 | 35,151 | ' | ' |
Total liabilities | 498,482 | 495,856 | ' | ' |
(Deficit) equity | -240,416 | -237,088 | ' | ' |
Total liabilities and stockholder's deficit | 258,066 | 258,768 | ' | ' |
Reportable Entities [Member] | Guarantor Subsidiary [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Accounts receivable, net | ' | ' | ' | ' |
Intercompany accounts receivable | ' | ' | ' | ' |
Inventory | ' | ' | ' | ' |
Income tax receivable | ' | ' | ' | ' |
Deferred tax assets | ' | ' | ' | ' |
Other current assets | ' | ' | ' | ' |
Total current assets | ' | ' | ' | ' |
Property, plant and equipment, net | 15,555 | 15,615 | ' | ' |
Capitalized software development costs, net | ' | ' | ' | ' |
Intangibles, net | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' |
Deferred financing costs | ' | ' | ' | ' |
Deferred tax assets | ' | ' | ' | ' |
Investment in subsidiaries | ' | ' | ' | ' |
Intercompany note receivable | ' | ' | ' | ' |
Other long-term assets | ' | ' | ' | ' |
Total assets | 15,555 | 15,615 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Line of credit | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | ' |
Intercompany accounts payable | ' | ' | ' | ' |
Accrued expenses and other liabilities | ' | ' | ' | ' |
Deferred tax liability | ' | ' | ' | ' |
Deferred revenue | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | ' |
Asset retirement obligations | ' | ' | ' | ' |
Long-term debt, net | ' | ' | ' | ' |
Intercompany note payable | ' | ' | ' | ' |
Deferred tax liability | ' | ' | ' | ' |
Other long-term liabilities | ' | ' | ' | ' |
Total liabilities | ' | ' | ' | ' |
(Deficit) equity | 15,555 | 15,615 | ' | ' |
Total liabilities and stockholder's deficit | 15,555 | 15,615 | ' | ' |
Reportable Entities [Member] | Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 5,084 | 4,674 | 7,730 | 13,960 |
Accounts receivable, net | 10,549 | 10,811 | ' | ' |
Intercompany accounts receivable | ' | ' | ' | ' |
Inventory | 2,925 | 2,896 | ' | ' |
Income tax receivable | 25 | 28 | ' | ' |
Deferred tax assets | 12 | 18 | ' | ' |
Other current assets | 265 | 181 | ' | ' |
Total current assets | 18,860 | 18,608 | ' | ' |
Property, plant and equipment, net | 5,007 | 5,970 | ' | ' |
Capitalized software development costs, net | 1 | 2 | ' | ' |
Intangibles, net | 2,575 | 3,160 | ' | ' |
Goodwill | ' | ' | ' | ' |
Deferred financing costs | ' | ' | ' | ' |
Deferred tax assets | 45 | 15 | ' | ' |
Investment in subsidiaries | ' | ' | ' | ' |
Intercompany note receivable | 5,568 | 5,396 | ' | ' |
Other long-term assets | 200 | 207 | ' | ' |
Total assets | 32,256 | 33,358 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Line of credit | ' | ' | ' | ' |
Accounts payable | 1,573 | 1,431 | ' | ' |
Intercompany accounts payable | 2,962 | 2,671 | ' | ' |
Accrued expenses and other liabilities | 3,144 | 4,083 | ' | ' |
Deferred tax liability | 57 | 57 | ' | ' |
Deferred revenue | ' | ' | ' | ' |
Total current liabilities | 7,736 | 8,242 | ' | ' |
Asset retirement obligations | 195 | 173 | ' | ' |
Long-term debt, net | ' | ' | ' | ' |
Intercompany note payable | ' | ' | ' | ' |
Deferred tax liability | 8 | 12 | ' | ' |
Other long-term liabilities | 579 | 257 | ' | ' |
Total liabilities | 8,518 | 8,684 | ' | ' |
(Deficit) equity | 23,738 | 24,674 | ' | ' |
Total liabilities and stockholder's deficit | 32,256 | 33,358 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Accounts receivable, net | ' | ' | ' | ' |
Intercompany accounts receivable | -2,962 | -2,671 | ' | ' |
Inventory | ' | ' | ' | ' |
Income tax receivable | ' | ' | ' | ' |
Deferred tax assets | ' | ' | ' | ' |
Other current assets | ' | ' | ' | ' |
Total current assets | -2,962 | -2,671 | ' | ' |
Property, plant and equipment, net | ' | ' | ' | ' |
Capitalized software development costs, net | ' | ' | ' | ' |
Intangibles, net | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' |
Deferred financing costs | ' | ' | ' | ' |
Deferred tax assets | ' | ' | ' | ' |
Investment in subsidiaries | 201,123 | 196,799 | ' | ' |
Intercompany note receivable | -5,568 | -5,396 | ' | ' |
Other long-term assets | ' | ' | ' | ' |
Total assets | 192,593 | 188,732 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Line of credit | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | ' |
Intercompany accounts payable | -2,962 | -2,671 | ' | ' |
Accrued expenses and other liabilities | ' | ' | ' | ' |
Deferred tax liability | ' | ' | ' | ' |
Deferred revenue | ' | ' | ' | ' |
Total current liabilities | -2,962 | -2,671 | ' | ' |
Asset retirement obligations | ' | ' | ' | ' |
Long-term debt, net | ' | ' | ' | ' |
Intercompany note payable | -5,568 | -5,396 | ' | ' |
Deferred tax liability | ' | ' | ' | ' |
Other long-term liabilities | ' | ' | ' | ' |
Total liabilities | -8,530 | -8,067 | ' | ' |
(Deficit) equity | 201,123 | 196,799 | ' | ' |
Total liabilities and stockholder's deficit | $192,593 | $188,732 | ' | ' |
Guarantor_Financial_Informatio4
Guarantor Financial Information - Schedule of Condensed Consolidating Statement of Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Revenues | $75,682 | $70,385 | $224,631 | $212,004 | ' |
Cost of goods sold | 44,044 | 46,664 | 131,873 | 144,524 | ' |
Gross profit | 31,638 | 23,721 | 92,758 | 67,480 | ' |
Operating expenses | ' | ' | ' | ' | ' |
Sales and marketing expenses | 8,327 | 8,476 | 27,227 | 27,266 | ' |
General and administrative expenses | 8,722 | 7,132 | 26,564 | 25,678 | ' |
Research and development expenses | 3,049 | 5,893 | 8,958 | 25,428 | ' |
Impairment of land | ' | 6,788 | ' | 6,788 | ' |
Operating income (loss) | 11,540 | -4,568 | 30,009 | -17,680 | ' |
Interest expense, net | -10,585 | -11,035 | -31,704 | -32,323 | ' |
Other income (expense), net | 441 | 260 | -148 | 894 | ' |
Equity in earnings (losses) of affiliates | ' | ' | ' | ' | ' |
Income (loss) before income taxes | 1,396 | -15,343 | -1,843 | -49,109 | ' |
(Benefit) provision for income taxes | -56 | -279 | -374 | 267 | ' |
Net income (loss) | 1,452 | -15,064 | -1,469 | -49,376 | -61,678 |
Foreign currency translation | -671 | 417 | -339 | -1,176 | ' |
Equity in other comprehensive income (loss) of subsidiaries | ' | ' | ' | ' | ' |
Total comprehensive income (loss) | 781 | -14,647 | -1,808 | -50,552 | ' |
Reportable Entities [Member] | Lantheus Intermediate [Member] | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Cost of goods sold | ' | ' | ' | ' | ' |
Gross profit | ' | ' | ' | ' | ' |
Operating expenses | ' | ' | ' | ' | ' |
Sales and marketing expenses | ' | ' | ' | ' | ' |
General and administrative expenses | ' | ' | ' | ' | ' |
Research and development expenses | ' | ' | ' | ' | ' |
Impairment of land | ' | ' | ' | ' | ' |
Operating income (loss) | ' | ' | ' | ' | ' |
Interest expense, net | ' | ' | ' | ' | ' |
Other income (expense), net | ' | ' | ' | ' | ' |
Equity in earnings (losses) of affiliates | 1,452 | -15,064 | -1,469 | -49,376 | ' |
Income (loss) before income taxes | 1,452 | -15,064 | -1,469 | -49,376 | ' |
(Benefit) provision for income taxes | ' | ' | ' | ' | ' |
Net income (loss) | 1,452 | -15,064 | -1,469 | -49,376 | ' |
Foreign currency translation | ' | ' | ' | ' | ' |
Equity in other comprehensive income (loss) of subsidiaries | -671 | 417 | -339 | -1,176 | ' |
Total comprehensive income (loss) | 781 | -14,647 | -1,808 | -50,552 | ' |
Reportable Entities [Member] | LMI [Member] | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Revenues | 66,927 | 59,416 | 196,435 | 180,453 | ' |
Cost of goods sold | 36,243 | 35,859 | 108,111 | 115,962 | ' |
Gross profit | 30,684 | 23,557 | 88,324 | 64,491 | ' |
Operating expenses | ' | ' | ' | ' | ' |
Sales and marketing expenses | 7,462 | 7,641 | 24,466 | 24,564 | ' |
General and administrative expenses | 8,222 | 6,585 | 24,822 | 23,844 | ' |
Research and development expenses | 2,953 | 5,779 | 8,656 | 25,200 | ' |
Impairment of land | ' | ' | ' | ' | ' |
Operating income (loss) | 12,047 | 3,552 | 30,380 | -9,117 | ' |
Interest expense, net | -10,649 | -11,083 | -31,896 | -32,458 | ' |
Other income (expense), net | 305 | 409 | 80 | 1,039 | ' |
Equity in earnings (losses) of affiliates | -497 | -8,197 | -657 | -8,552 | ' |
Income (loss) before income taxes | 1,206 | -15,319 | -2,093 | -49,088 | ' |
(Benefit) provision for income taxes | -246 | -255 | -624 | 288 | ' |
Net income (loss) | 1,452 | -15,064 | -1,469 | -49,376 | ' |
Foreign currency translation | ' | ' | ' | ' | ' |
Equity in other comprehensive income (loss) of subsidiaries | -671 | 417 | -339 | -1,176 | ' |
Total comprehensive income (loss) | 781 | -14,647 | -1,808 | -50,552 | ' |
Reportable Entities [Member] | Guarantor Subsidiary [Member] | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Cost of goods sold | ' | ' | ' | ' | ' |
Gross profit | ' | ' | ' | ' | ' |
Operating expenses | ' | ' | ' | ' | ' |
Sales and marketing expenses | ' | ' | ' | ' | ' |
General and administrative expenses | 20 | 20 | 60 | 60 | ' |
Research and development expenses | ' | ' | ' | ' | ' |
Impairment of land | ' | 6,788 | ' | 6,788 | ' |
Operating income (loss) | -20 | -6,808 | -60 | -6,848 | ' |
Interest expense, net | ' | ' | ' | ' | ' |
Other income (expense), net | ' | ' | ' | ' | ' |
Equity in earnings (losses) of affiliates | ' | ' | ' | ' | ' |
Income (loss) before income taxes | -20 | -6,808 | -60 | -6,848 | ' |
(Benefit) provision for income taxes | ' | ' | ' | ' | ' |
Net income (loss) | -20 | -6,808 | -60 | -6,848 | ' |
Foreign currency translation | ' | ' | ' | ' | ' |
Equity in other comprehensive income (loss) of subsidiaries | ' | ' | ' | ' | ' |
Total comprehensive income (loss) | -20 | -6,808 | -60 | -6,848 | ' |
Reportable Entities [Member] | Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Revenues | 13,637 | 15,372 | 42,067 | 47,228 | ' |
Cost of goods sold | 12,683 | 15,208 | 37,633 | 44,239 | ' |
Gross profit | 954 | 164 | 4,434 | 2,989 | ' |
Operating expenses | ' | ' | ' | ' | ' |
Sales and marketing expenses | 865 | 835 | 2,761 | 2,702 | ' |
General and administrative expenses | 480 | 527 | 1,682 | 1,774 | ' |
Research and development expenses | 96 | 114 | 302 | 228 | ' |
Impairment of land | ' | ' | ' | ' | ' |
Operating income (loss) | -487 | -1,312 | -311 | -1,715 | ' |
Interest expense, net | 64 | 48 | 192 | 135 | ' |
Other income (expense), net | 136 | -149 | -228 | -145 | ' |
Equity in earnings (losses) of affiliates | ' | ' | ' | ' | ' |
Income (loss) before income taxes | -287 | -1,413 | -347 | -1,725 | ' |
(Benefit) provision for income taxes | 190 | -24 | 250 | -21 | ' |
Net income (loss) | -477 | -1,389 | -597 | -1,704 | ' |
Foreign currency translation | -671 | 417 | -339 | -1,176 | ' |
Equity in other comprehensive income (loss) of subsidiaries | ' | ' | ' | ' | ' |
Total comprehensive income (loss) | -1,148 | -972 | -936 | -2,880 | ' |
Eliminations [Member] | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Revenues | -4,882 | -4,403 | -13,871 | -15,677 | ' |
Cost of goods sold | -4,882 | -4,403 | -13,871 | -15,677 | ' |
Gross profit | ' | ' | ' | ' | ' |
Operating expenses | ' | ' | ' | ' | ' |
Sales and marketing expenses | ' | ' | ' | ' | ' |
General and administrative expenses | ' | ' | ' | ' | ' |
Research and development expenses | ' | ' | ' | ' | ' |
Impairment of land | ' | ' | ' | ' | ' |
Operating income (loss) | ' | ' | ' | ' | ' |
Interest expense, net | ' | ' | ' | ' | ' |
Other income (expense), net | ' | ' | ' | ' | ' |
Equity in earnings (losses) of affiliates | -955 | 23,261 | 2,126 | 57,928 | ' |
Income (loss) before income taxes | -955 | 23,261 | 2,126 | 57,928 | ' |
(Benefit) provision for income taxes | ' | ' | ' | ' | ' |
Net income (loss) | -955 | 23,261 | 2,126 | 57,928 | ' |
Foreign currency translation | ' | ' | ' | ' | ' |
Equity in other comprehensive income (loss) of subsidiaries | 1,342 | -834 | 678 | 2,352 | ' |
Total comprehensive income (loss) | $387 | $22,427 | $2,804 | $60,280 | ' |
Guarantor_Financial_Informatio5
Guarantor Financial Information - Schedule of Condensed Consolidating Cash Flow Information (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash provided by operating activities | $15,448 | ($11,822) |
Cash flows from investing activities | ' | ' |
Capital expenditures | -5,303 | -3,711 |
Payments (to)/from subsidiary | ' | ' |
Intercompany note | ' | ' |
Proceeds from sale of property, plant and equipment | 227 | ' |
Proceeds from dividend | ' | ' |
Redemption of certificate of deposit-restricted | 228 | ' |
Cash used in investing activities | -4,848 | -3,711 |
Cash flows from financing activities | ' | ' |
Proceeds from line of credit | 5,500 | 8,000 |
Payments on line of credit | -5,500 | ' |
Payments on note payable | -52 | -1,174 |
Deferred financing costs | -139 | -1,188 |
Payments (to)/from parent | -1,741 | 111 |
Intercompany note | ' | ' |
Payment of dividend | ' | ' |
Cash (used in) provided by financing activities | -1,932 | 5,749 |
Effect of foreign exchange rate on cash | -132 | -949 |
Increase (decrease) in cash and cash equivalents | 8,536 | -10,733 |
Cash and cash equivalents, beginning of period | 16,669 | 31,595 |
Cash and cash equivalents, end of period | 25,205 | 20,862 |
Reportable Entities [Member] | Lantheus Intermediate [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash provided by operating activities | ' | ' |
Cash flows from investing activities | ' | ' |
Capital expenditures | ' | ' |
Payments (to)/from subsidiary | 1,741 | ' |
Intercompany note | ' | ' |
Proceeds from sale of property, plant and equipment | ' | ' |
Proceeds from dividend | ' | ' |
Redemption of certificate of deposit-restricted | ' | ' |
Cash used in investing activities | 1,741 | ' |
Cash flows from financing activities | ' | ' |
Proceeds from line of credit | ' | ' |
Payments on line of credit | ' | ' |
Payments on note payable | ' | ' |
Deferred financing costs | ' | ' |
Payments (to)/from parent | -1,741 | ' |
Intercompany note | ' | ' |
Payment of dividend | ' | ' |
Cash (used in) provided by financing activities | -1,741 | ' |
Effect of foreign exchange rate on cash | ' | ' |
Increase (decrease) in cash and cash equivalents | ' | ' |
Cash and cash equivalents, beginning of period | ' | ' |
Cash and cash equivalents, end of period | ' | ' |
Reportable Entities [Member] | LMI [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash provided by operating activities | 14,614 | -13,054 |
Cash flows from investing activities | ' | ' |
Capital expenditures | -5,011 | -3,621 |
Payments (to)/from subsidiary | ' | ' |
Intercompany note | ' | ' |
Proceeds from sale of property, plant and equipment | 227 | ' |
Proceeds from dividend | ' | 4,174 |
Redemption of certificate of deposit-restricted | 228 | ' |
Cash used in investing activities | -4,556 | 553 |
Cash flows from financing activities | ' | ' |
Proceeds from line of credit | 5,500 | 8,000 |
Payments on line of credit | -5,500 | ' |
Payments on note payable | -52 | -1,174 |
Deferred financing costs | -139 | -1,188 |
Payments (to)/from parent | -1,741 | 111 |
Intercompany note | ' | 2,249 |
Payment of dividend | ' | ' |
Cash (used in) provided by financing activities | -1,932 | 7,998 |
Effect of foreign exchange rate on cash | ' | ' |
Increase (decrease) in cash and cash equivalents | 8,126 | -4,503 |
Cash and cash equivalents, beginning of period | 11,995 | 17,635 |
Cash and cash equivalents, end of period | 20,121 | 13,132 |
Reportable Entities [Member] | Guarantor Subsidiary [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash provided by operating activities | ' | ' |
Cash flows from investing activities | ' | ' |
Capital expenditures | ' | ' |
Payments (to)/from subsidiary | ' | ' |
Intercompany note | ' | ' |
Proceeds from sale of property, plant and equipment | ' | ' |
Proceeds from dividend | ' | ' |
Redemption of certificate of deposit-restricted | ' | ' |
Cash used in investing activities | ' | ' |
Cash flows from financing activities | ' | ' |
Proceeds from line of credit | ' | ' |
Payments on line of credit | ' | ' |
Payments on note payable | ' | ' |
Deferred financing costs | ' | ' |
Payments (to)/from parent | ' | ' |
Intercompany note | ' | ' |
Payment of dividend | ' | ' |
Cash (used in) provided by financing activities | ' | ' |
Effect of foreign exchange rate on cash | ' | ' |
Increase (decrease) in cash and cash equivalents | ' | ' |
Cash and cash equivalents, beginning of period | ' | ' |
Cash and cash equivalents, end of period | ' | ' |
Reportable Entities [Member] | Non-Guarantor Subsidiaries [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash provided by operating activities | 834 | 2,970 |
Cash flows from investing activities | ' | ' |
Capital expenditures | -292 | -90 |
Payments (to)/from subsidiary | ' | ' |
Intercompany note | ' | -2,249 |
Proceeds from sale of property, plant and equipment | ' | ' |
Proceeds from dividend | ' | ' |
Redemption of certificate of deposit-restricted | ' | ' |
Cash used in investing activities | -292 | -2,339 |
Cash flows from financing activities | ' | ' |
Proceeds from line of credit | ' | ' |
Payments on line of credit | ' | ' |
Payments on note payable | ' | ' |
Deferred financing costs | ' | ' |
Payments (to)/from parent | ' | ' |
Intercompany note | ' | ' |
Payment of dividend | ' | -5,912 |
Cash (used in) provided by financing activities | ' | -5,912 |
Effect of foreign exchange rate on cash | -132 | -949 |
Increase (decrease) in cash and cash equivalents | 410 | -6,230 |
Cash and cash equivalents, beginning of period | 4,674 | 13,960 |
Cash and cash equivalents, end of period | 5,084 | 7,730 |
Eliminations [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash provided by operating activities | ' | -1,738 |
Cash flows from investing activities | ' | ' |
Capital expenditures | ' | ' |
Payments (to)/from subsidiary | -1,741 | ' |
Intercompany note | ' | 2,249 |
Proceeds from sale of property, plant and equipment | ' | ' |
Proceeds from dividend | ' | -4,174 |
Redemption of certificate of deposit-restricted | ' | ' |
Cash used in investing activities | -1,741 | -1,925 |
Cash flows from financing activities | ' | ' |
Proceeds from line of credit | ' | ' |
Payments on line of credit | ' | ' |
Payments on note payable | ' | ' |
Deferred financing costs | ' | ' |
Payments (to)/from parent | 1,741 | ' |
Intercompany note | ' | -2,249 |
Payment of dividend | ' | 5,912 |
Cash (used in) provided by financing activities | 1,741 | 3,663 |
Effect of foreign exchange rate on cash | ' | ' |
Increase (decrease) in cash and cash equivalents | ' | ' |
Cash and cash equivalents, beginning of period | ' | ' |
Cash and cash equivalents, end of period | ' | ' |