| Composition of certain financial statement captions |
|
|
|
|
|
|
|
|
|
(In thousands) |
June 30,
2014 |
|
December 31,
2013 |
Accounts receivable, net |
|
|
|
Accounts receivable |
$ |
24,660 |
|
|
$ |
21,652 |
|
Less: allowance for doubtful accounts |
(1,547 |
) |
|
(1,885 |
) |
|
$ |
23,113 |
|
|
$ |
19,767 |
|
Inventories, net |
|
|
|
Finished products |
$ |
12,455 |
|
|
$ |
13,374 |
|
Work in-process |
1,510 |
|
|
1,350 |
|
Raw materials |
4,948 |
|
|
4,132 |
|
Less: inventory reserve |
(579 |
) |
|
(777 |
) |
|
$ |
18,334 |
|
|
$ |
18,079 |
|
Prepaid expenses and other current assets |
|
|
|
Prepaid supplies |
$ |
1,910 |
|
|
$ |
945 |
|
Prepaid insurance |
1,113 |
|
|
892 |
|
Pharmsynthez notes receivable |
— |
|
|
6,151 |
|
Other receivables |
619 |
|
|
1,985 |
|
Taxes recoverable |
1,298 |
|
|
3,458 |
|
Other |
2,613 |
|
|
5,653 |
|
|
$ |
7,553 |
|
|
$ |
19,084 |
|
Intangible assets, net: |
|
|
|
Technologies |
$ |
53,012 |
|
|
$ |
51,660 |
|
Customer relationships |
22,511 |
|
|
22,725 |
|
Product registrations |
9,687 |
|
|
9,692 |
|
Tradenames |
3,615 |
|
|
3,669 |
|
Covenants not to compete |
8,669 |
|
|
8,671 |
|
Other |
1,190 |
|
|
2,519 |
|
Less: accumulated amortization |
(29,625 |
) |
|
(24,403 |
) |
|
$ |
69,059 |
|
|
$ |
74,533 |
|
Accrued expenses: |
|
|
|
Taxes payable |
$ |
406 |
|
|
$ |
702 |
|
Deferred revenue |
6,393 |
|
|
7,639 |
|
Clinical trials |
2,616 |
|
|
3,342 |
|
Professional fees |
1,320 |
|
|
402 |
|
Employee benefits |
5,405 |
|
|
4,399 |
|
Deferred acquisition payments, net of discount |
— |
|
|
5,465 |
|
Contingent consideration |
24,618 |
|
|
28,047 |
|
Other |
14,206 |
|
|
15,878 |
|
|
$ |
54,964 |
|
|
$ |
65,874 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
June 30,
2014 |
|
December 31,
2013 |
Other long-term liabilities: |
|
|
|
Contingent consideration – OPKO Renal |
$ |
37,141 |
|
|
$ |
34,401 |
|
Contingent consideration – OPKO Spain |
299 |
|
|
504 |
|
Contingent consideration – OPKO Diagnostics |
10,642 |
|
|
8,340 |
|
Contingent consideration – CURNA |
214 |
|
|
316 |
|
Mortgages and other debts payable |
2,948 |
|
|
3,270 |
|
Deferred tax liabilities |
165,226 |
|
|
166,435 |
|
Other, including deferred revenue |
2,020 |
|
|
1,509 |
|
|
$ |
218,490 |
|
|
$ |
214,775 |
|
|
| Schedule of goodwill |
The following table summarizes the changes in Goodwill during the six months ended June 30, 2014.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014 |
(In thousands) |
Balance at January 1 |
|
Acquisitions |
|
Foreign exchange, other |
|
Balance at June 30 |
Pharmaceuticals |
|
|
|
|
|
|
|
CURNA |
$ |
4,827 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,827 |
|
Exakta-OPKO |
113 |
|
|
— |
|
|
— |
|
|
113 |
|
OPKO Chile |
6,102 |
|
|
— |
|
|
(310 |
) |
|
5,792 |
|
OPKO Spain |
9,075 |
|
|
— |
|
|
(79 |
) |
|
8,996 |
|
FineTech |
11,698 |
|
|
— |
|
|
— |
|
|
11,698 |
|
SciVac |
1,740 |
|
|
— |
|
|
17 |
|
|
1,757 |
|
OPKO Renal |
2,069 |
|
|
— |
|
|
— |
|
|
2,069 |
|
OPKO Biologics |
139,784 |
|
|
— |
|
|
— |
|
|
139,784 |
|
Diagnostics |
|
|
|
|
|
|
|
Claros |
17,977 |
|
|
— |
|
|
— |
|
|
17,977 |
|
OPKO Lab |
32,988 |
|
|
— |
|
|
— |
|
|
32,988 |
|
|
$ |
226,373 |
|
|
$ |
— |
|
|
$ |
(372 |
) |
|
$ |
226,001 |
|
|