Exhibit 99.1
Owens & Minor, Inc.
Summary Segment Information (unaudited)
The unaudited reclassified summary segment financial information below is provided to reflect the realignment of the Company's reporting segments effective during the first quarter of 2016. The Company did not operate under the realigned structure for any of these prior periods and has begun to report comparative results under the new structure effective with the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2016.
Reportable segment data on a quarterly basis for the year ended December 31, 2015 and on an annual basis for the years ended December 31, 2015 and 2014 is presented in the table below:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Year ended December 31, 2015 | | |
| | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | Total | | Year ended December 31, 2014 |
| Net revenue: | | | | | | | | | | | | |
| Segment net revenue | | | | | | | | | | | | |
| Domestic | | $ | 2,249,705 |
| | $ | 2,279,725 |
| | $ | 2,321,301 |
| | $ | 2,326,124 |
| | $ | 9,176,855 |
| | $ | 8,910,733 |
|
| International | | 95,511 |
| | 92,856 |
| | 92,777 |
| | 91,493 |
| | 372,638 |
| | 481,402 |
|
| CPS | | 129,645 |
| | 135,714 |
| | 143,866 |
| | 152,587 |
| | 561,812 |
| | 294,358 |
|
| Total segment net revenue | | 2,474,861 |
| | 2,508,295 |
| | 2,557,944 |
| | 2,570,204 |
| | 10,111,305 |
| | 9,686,493 |
|
| Inter-segment revenue | | | | | | | | | | | | |
| CPS | | (83,665 | ) | | (86,128 | ) | | (86,275 | ) | | (82,290 | ) | | (338,359 | ) | | (246,311 | ) |
| Total inter-segment revenue | | (83,665 | ) | | (86,128 | ) | | (86,275 | ) | | (82,290 | ) | | (338,359 | ) | | (246,311 | ) |
| Consolidated net revenue | | $ | 2,391,196 |
| | $ | 2,422,167 |
| | $ | 2,471,669 |
| | $ | 2,487,914 |
| | $ | 9,772,946 |
| | $ | 9,440,182 |
|
| | | | | | | | | | | | | |
| Operating earnings (loss): | | | | | | | | | | | | |
| Domestic | | $ | 38,106 |
| | $ | 38,394 |
| | $ | 41,979 |
| | $ | 44,466 |
| | $ | 162,944 |
| | $ | 165,769 |
|
| International | | (337 | ) | | 1,181 |
| | 1,649 |
| | 706 |
| | 3,198 |
| | (6,808 | ) |
| CPS | | 13,182 |
| | 13,850 |
| | 16,604 |
| | 18,296 |
| | 61,932 |
| | 46,527 |
|
| Inter-segment eliminations | | (60 | ) | | 142 |
| | (526 | ) | | (368 | ) | | (811 | ) | | (2,950 | ) |
Acquisition-related and exit and realignment charges (1) | | (9,916 | ) | | (5,707 | ) | | (6,134 | ) | | (6,647 | ) | | (28,404 | ) | | (42,801 | ) |
| Fair value adjustments related to purchase accounting | | — |
| | — |
| | — |
| | — |
| | — |
| | 3,706 |
|
Other (2) | | — |
| | — |
| | — |
| | 1,500 |
| | 1,500 |
| | (3,907 | ) |
| Consolidated operating earnings | | $ | 40,975 |
| | $ | 47,860 |
| | $ | 53,572 |
| | $ | 57,953 |
| | $ | 200,359 |
| | $ | 159,536 |
|
| | | | | | | | | | | | | |
| Depreciation and amortization: | | | | | | | | | | | | |
| Domestic | | $ | 9,083 |
| | $ | 8,888 |
| | $ | 8,621 |
| | $ | 7,834 |
| | $ | 34,425 |
| | $ | 35,499 |
|
| International | | 4,895 |
| | 4,743 |
| | 4,792 |
| | 4,473 |
| | 18,903 |
| | 19,837 |
|
| CPS | | 2,191 |
| | 2,150 |
| | 2,034 |
| | 1,803 |
| | 8,180 |
| | 2,087 |
|
| Consolidated depreciation and amortization | | $ | 16,169 |
| | $ | 15,781 |
| | $ | 15,447 |
| | $ | 14,110 |
| | $ | 61,508 |
| | $ | 57,423 |
|
| | | | | | | | | | | | | |
| Capital expenditures: | | | | | | | | | | | | |
| Domestic | | $ | 8,009 |
| | $ | 3,349 |
| | $ | 2,041 |
| | $ | 3,911 |
| | $ | 17,310 |
| | $ | 52,059 |
|
| International | | 2,915 |
| | 7,875 |
| | 7,235 |
| | 133 |
| | 18,158 |
| | 18,279 |
|
| CPS | | 642 |
| | 35 |
| | 96 |
| | 375 |
| | 1,148 |
| | 470 |
|
| Consolidated capital expenditures | | $ | 11,566 |
| | $ | 11,259 |
| | $ | 9,372 |
| | $ | 4,419 |
| | $ | 36,616 |
| | $ | 70,808 |
|
| | | | | | | | | | | | | |
(1)The years ended December 31, 2015 and 2014 include $4.5 million ($3.0 million in first quarter, $1.2 million in second quarter and $0.3 million in third quarter) and $6.0 million, respectively, of accelerated amortization related to an information system that was replaced in the International segment. |
(2) Contract claim settlement in 2014 of which $1.5 million was recovered in the fourth quarter of 2015. |
