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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 01, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	OWENS & MINOR INC/VA/
Entity Central Index Key	0000075252
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Trading Symbol	OMI
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Smaller Reporting Entity	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		62,935,985

Consolidated Statements of Income (loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Net revenue	$ 2,461,388	$ 2,372,579
Cost of goods sold	2,102,964	2,047,892
Gross margin	358,424	324,687
Distribution, selling and administrative expenses	338,703	284,361
Acquisition-related and exit and realignment charges	4,990	14,760
Other operating expense, net	39	1,349
Operating income	14,692	24,217
Interest expense, net	29,101	10,253
Income (loss) before income taxes	(14,409)	13,964
Income tax (benefit) provision	(313)	5,813
Net income (loss)	$ (14,096)	$ 8,151
Net income per common share:
Basic and diluted (in usd per share)	$ (0.23)	$ 0.13

Consolidated Statements of Comprehensive Income (loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income (loss)	$ (14,096)	$ 8,151
Other comprehensive income (loss), net of tax:
Currency translation adjustments (net of income tax of $0 in 2019 and 2018)	(4,207)	8,921
Change in unrecognized net periodic pension costs (net of income tax of $69 in 2019 and $142 in 2018)	197	380
Total other comprehensive income (loss), net of tax	(6,423)	9,307
Comprehensive income (loss)	(20,519)	17,458
Parent
Other comprehensive income (loss), net of tax:
Net unrealized gain (loss) on derivative instruments and other (net of income tax of $658 in 2019 and $0 in 2018)	$ (2,413)	$ 6

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Comprehensive Income (loss) (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Currency translation adjustments, income tax benefit	$ 0	$ 0
Change in unrecognized net periodic pension costs, income tax expense	69	142
Parent
Other, income tax expense	$ 658	$ 0

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 75,239	$ 103,367
Accounts receivable, net of allowances of $21,572 and $19,618	843,384	823,418
Merchandise inventories	1,210,558	1,290,103
Other current assets	336,065	321,690
Total current assets	2,465,246	2,538,578
Property and equipment, net of accumulated depreciation of $283,804 and $270,105	386,135	386,723
Operating lease assets	197,200
Goodwill	413,235	414,122
Intangible assets, net	311,254	321,764
Other assets, net	109,294	112,601
Total assets	3,882,364	3,773,788
Current liabilities
Accounts payable	990,688	1,109,589
Accrued payroll and related liabilities	40,999	48,203
Other current liabilities	377,989	314,219
Total current liabilities	1,409,676	1,472,011
Long-term debt, excluding current portion	1,685,135	1,650,582
Operating lease liabilities, excluding current portion	155,703
Deferred income taxes	42,144	50,852
Other liabilities	87,867	81,924
Total liabilities	3,380,525	3,255,369
Commitments and contingencies
Equity
Common stock, par value $2 per share; authorized - 200,000 shares; issued and outstanding - 62,936 shares and 62,294 shares	125,872	124,588
Paid-in capital	241,547	238,773
Retained earnings	186,455	200,670
Accumulated other comprehensive loss	(52,035)	(45,612)
Total equity	501,839	518,419
Total liabilities and equity	$ 3,882,364	$ 3,773,788

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts and notes receivable, allowances	$ 21,572	$ 19,618
Property and equipment, accumulated depreciation	$ 283,804	$ 270,105
Common stock, par value (in USD per share)	$ 2	$ 2
Common stock, authorized (shares)	200,000,000	200,000,000
Common stock, issued (shares)	62,936,000	62,294,000
Common stock, outstanding (shares)	62,936,000	62,294,000

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities:
Net income (loss)	$ (14,096)	$ 8,151
Adjustments to reconcile net income to cash (used for) provided by operating activities:
Depreciation and amortization	28,720	17,911
Share-based compensation expense	4,505	3,035
Provision for losses on accounts receivable	3,619	1,073
Deferred income tax benefit	(8,613)	(1,482)
Changes in operating assets and liabilities:
Accounts receivable	(22,573)	(18,519)
Merchandise inventories	80,194	(30,556)
Accounts payable	(120,480)	9,478
Net change in other assets and liabilities	(15,858)	28,904
Other, net	3,678	278
Cash (used for) provided by operating activities	(60,904)	18,273
Investing activities:
Additions to property and equipment	(11,674)	(7,074)
Additions to computer software and intangible assets	(2,605)	(7,086)
Proceeds from sale of property and equipment	271	0
Cash used for investing activities	(14,008)	(14,160)
Financing activities:
Borrowings (repayments) under revolving credit facility	72,100	(300)
Repayments of debt	(12,394)	(3,125)
Financing costs paid	(4,313)	0
Cash dividends paid	(4,764)	(16,074)
Other, net	(1,124)	(2,304)
Cash provided by (used for) financing activities	49,505	(21,803)
Effect of exchange rate changes on cash and cash equivalents	(2,721)	800
Net decrease in cash and cash equivalents	(28,128)	(16,890)
Cash and cash equivalents at beginning of period	103,367	104,522
Cash and cash equivalents at end of period	75,239	87,632
Supplemental disclosure of cash flow information:
Income taxes paid, net of refunds	(12,388)	1,197
Interest paid	$ 24,504	$ 9,661

Consolidated Statements of Changes in Equity (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning Balance (in shares) at Dec. 31, 2017		61,476,000
Beginning Balance at Dec. 31, 2017	$ 1,015,479	$ 122,952	$ 226,937	$ 690,674	$ (25,084)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	8,151			8,151
Other comprehensive income	9,307				9,307
Dividends declared	(16,027)			(16,027)
Share-based compensation expense, exercises and other (in shares)		336,000
Share-based compensation expense, exercises and other	2,008	$ 672	1,336
Ending Balance (in shares) at Mar. 31, 2018		61,812,000
Ending Balance at Mar. 31, 2018	$ 1,018,918	$ 123,624	228,273	682,798	(15,777)
Beginning Balance (in shares) at Dec. 31, 2018	62,294,000	62,294,000
Beginning Balance at Dec. 31, 2018	$ 518,419	$ 124,588	238,773	200,670	(45,612)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(14,096)			(14,096)
Other comprehensive income	(6,423)				(6,423)
Dividends declared	(119)			(119)
Share-based compensation expense, exercises and other (in shares)		642,000
Share-based compensation expense, exercises and other	$ 4,058	$ 1,284	2,774
Ending Balance (in shares) at Mar. 31, 2019	62,936,000	62,936,000
Ending Balance at Mar. 31, 2019	$ 501,839	$ 125,872	$ 241,547	$ 186,455	$ (52,035)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Changes in Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends declared, per share (in USD per share)	$ 0.0025	$ 0.26
Common stock, par value (in USD per share)	$ 2	$ 2

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Owens & Minor, Inc. and the subsidiaries it controls (we, us, or our) and contain all adjustments (which are comprised only of normal recurring accruals and use of estimates) necessary to conform with U.S. generally accepted accounting principles (GAAP). All significant intercompany accounts and transactions have been eliminated. The results of operations for interim periods are not necessarily indicative of the results expected for the full year. Reclassifications Certain prior year amounts have been reclassified to conform to current year presentation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make assumptions and estimates that affect reported amounts and related disclosures. Actual results may differ from these estimates. See Note 15 for disaggregation of revenue by segment and geography as we believe that best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.

Fair Value	3 Months Ended
Fair Value	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value	Fair Value The carrying amounts of cash and cash equivalents, accounts receivable, financing receivables, accounts payable and financing payables included in the consolidated balance sheets approximate fair value due to the short-term nature of these instruments. The fair value of long-term debt is estimated based on quoted market prices or dealer quotes for the identical liability when traded as an asset in an active market (Level 1) or, if quoted market prices or dealer quotes are not available, on the borrowing rates currently available for loans with similar terms, credit ratings, and average remaining maturities (Level 2). The fair value of interest rate swaps and foreign currency contracts is determined based on the present value of expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Observable Level 2 inputs are used to determine the present value of expected future cash flows.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Acquisitions

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Acquisitions

On April 30, 2018 (the Closing Date), we completed the acquisition of substantially all of Avanos Medical, Inc.'s (Avanos, previously Halyard Health, Inc.) Surgical and Infection Prevention (S&IP) business, the name “Halyard Health” (and all variations of that name and related intellectual property rights) and its information technology (IT) systems in exchange for $758 million, net of cash acquired. The Halyard business is a leading global provider of medical supplies and solutions for the prevention of healthcare associated infections across acute care and non-acute care markets. This business is reported as part of the Global Products segment.

The following table presents the preliminary estimated fair value of the assets acquired and liabilities assumed recognized as of the acquisition date. The fair value of intangibles from this acquisition was primarily determined by applying the income approach, using several significant unobservable inputs for projected cash flows and a discount rate. These inputs are considered Level 3 inputs. The allocation of purchase price to assets and liabilities acquired is not yet complete, as valuations of certain tangible and intangible assets are still in process.



	Preliminary Fair Value Originally Estimated as of Acquisition Date ⁽¹⁾		Differences Between Prior and Current Period Preliminary Fair Value		Fair Value Estimated as of Acquisition Date
Assets acquired:
Current assets	$	330,870	$	—	$	330,870
Goodwill	130,364		—		130,364
Intangible assets	191,230		—		191,230
Other noncurrent assets	218,240		—		218,240
Total assets	870,704		—		870,704
Liabilities assumed:
Current liabilities	92,438		—		92,438
Noncurrent liabilities	20,217		—		20,217
Total liabilities	112,655		—		112,655
Fair value of net assets acquired, net of cash	$	758,049	$	—	$	758,049

⁽¹⁾As previously reported in our 2018 Form 10-K.

We are amortizing the preliminary fair value of acquired intangible assets, primarily customer relationships, a trade name and other intellectual property, over their estimated weighted average useful lives of eight to 12 years.

Goodwill of $130 million, which we assigned to our Global Products segment, consists largely of expected opportunities to expand into new markets and further develop a presence in the medical products segment. None of the goodwill recognized is expected to be deductible for income tax purposes.

The unaudited pro forma results of net revenue for the period ended March 31, 2018 as if Halyard was acquired on January 1, 2018 were $2,582,579. The pro forma results of net income (loss) and net income (loss) per common share have not been represented because the effects were not material to our historic consolidated financial statements. Accordingly, the pro forma results noted above are not necessarily indicative of the results that would have been if the acquisition had occurred on the dates indicated, nor are the pro forma results indicative of results which may occur in the future.

Financing Receivables and Payables	3 Months Ended
Financing Receivables and Payables	Mar. 31, 2019
Receivables [Abstract]
Financing Receivables and Payables	Financing Receivables and Payables At March 31, 2019 and December 31, 2018, we had financing receivables of $209.7 million and $183.3 million, respectively, and related payables of $100.5 million and $100.3 million, respectively, outstanding under our order-to-cash program, which were included in other current assets and other current liabilities, respectively, in the consolidated balance sheets.

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The following table summarizes the goodwill balances by segment and the changes in the carrying amount of goodwill through March 31, 2019:



	Global Solutions		Global Products			Consolidated
Carrying amount of goodwill, December 31, 2018	$	283,905	$	130,217		$	414,122
Currency translation adjustments	—		(887		)	(887		)
Carrying amount of goodwill, March 31, 2019	$	283,905	$	129,330		$	413,235

Intangible assets at March 31, 2019 and December 31, 2018, were as follows:



	March 31, 2019									December 31, 2018
	Customer Relationships			Tradenames			Other Intangibles			Customer Relationships			Tradenames			Other Intangibles

Gross intangible assets	$	267,732		$	97,000		$	42,724		$	267,510		$	97,000		$	42,930
Accumulated amortization	(79,999		)	(10,779		)	(5,424		)	(72,947		)	(8,544		)	(4,185		)
Net intangible assets	$	187,733		$	86,221		$	37,300		$	194,563		$	88,456		$	38,745
Weighted average useful life	10 years			11 years			8 years			10 years			11 years			8 years

At March 31, 2019, $102.0 million in net intangible assets were held in the Global Solutions segment and $209.3 million were held in the Global Products segment. Amortization expense for intangible assets was $10.4 million and $6.4 million for the three months ended March 31, 2019 and 2018, respectively.

Based on the current carrying value of intangible assets subject to amortization, estimated amortization expense is $31.2 million for the remainder of 2019, $40.7 million for 2020, $39.0 million for 2021, $38.1 million for 2022, $36.9 million for 2023 and $31.6 million for 2024.

Leases (Notes)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

We adopted ASU No. 2016-02, Leases (Topic 842), as of January 1, 2019. We elected to use the adoption date as our date of initial application and thus have not restated comparative prior periods. See Note 17 for additional information, including as it relates to the practical expedients.

We enter into non-cancelable agreements to lease most of our office and warehouse facilities with remaining terms generally ranging from one to 20 years. Certain leases include renewal options, generally for five-year increments. The exercise of lease renewal options is at our sole discretion. Our lease terms may include those options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We also lease some of our transportation and material handling equipment for terms generally ranging from three to 10 years. Leases with a term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease asset also includes any lease payments made and excludes lease incentives.

The components of lease expense were as follows:



	Classification	Three months ended March 31, 2019
Operating lease cost ⁽¹⁾	Distribution, selling and administrative expenses	$	17,437
Finance lease cost:
Amortization of lease assets	Distribution, selling and administrative expenses	756
Interest on lease liabilities	Interest expense, net	334
Total finance lease cost		1,090
Total lease cost		$	18,527

⁽¹⁾ Includes short-term lease and variable lease costs, which are immaterial.

Supplemental balance sheet information is as follows:



	Classification	As of March 31, 2019
Assets:
Operating lease assets	Operating lease assets	$	197,200
Finance lease assets	Property and equipment, net	10,921
Total lease assets		$	208,121
Liabilities:
Current
Operating	Other current liabilities	$	44,876
Finance	Other current liabilities	2,365
Noncurrent
Operating	Operating lease liabilities, excluding current portion	155,703
Finance	Long-term debt, excluding current portion	12,820
Total lease liabilities		$	215,764

Other information related to leases was as follows:



	Three months ended March 31, 2019
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating and finance leases	$	16,695
Financing cash flows from finance leases	$	674

Right-of-use assets obtained in exchange for new operating and finance lease liabilities	$	5,635

Weighted average remaining lease term (years)
Operating leases	6.3
Finance leases	8.3

Weighted average discount rate
Operating leases	12.3		%
Finance leases	8.9		%

Maturities of lease liabilities as of March 31, 2019 were as follows:



	Operating Leases			Finance Leases			Total
2019 (remainder)	$	56,059		$	3,031		$	59,090
2020	57,703			2,824			60,527
2021	49,044			2,268			51,312
2022	30,612			2,073			32,685
2023	22,120			1,952			24,072
Thereafter	83,122			10,367			93,489
Total lease payments	298,660			22,515			321,175
Less: Interest	(98,081		)	(7,330		)	(105,411		)
Present value of lease liabilities	$	200,579		$	15,185		$	215,764

At December 31, 2018, future minimum annual payments under non-cancelable lease agreements with original terms in excess of one year, and including payments required under operating leases for facilities we have vacated, were as follows:



	Total
2019	$	64,082
2020	53,138
2021	42,480
2022	26,445
2023	19,895
Thereafter	45,708
Total minimum payments	$	251,748

Leases

The components of lease expense were as follows:



	Classification	Three months ended March 31, 2019
Operating lease cost ⁽¹⁾	Distribution, selling and administrative expenses	$	17,437
Finance lease cost:
Amortization of lease assets	Distribution, selling and administrative expenses	756
Interest on lease liabilities	Interest expense, net	334
Total finance lease cost		1,090
Total lease cost		$	18,527

⁽¹⁾ Includes short-term lease and variable lease costs, which are immaterial.

Supplemental balance sheet information is as follows:



	Classification	As of March 31, 2019
Assets:
Operating lease assets	Operating lease assets	$	197,200
Finance lease assets	Property and equipment, net	10,921
Total lease assets		$	208,121
Liabilities:
Current
Operating	Other current liabilities	$	44,876
Finance	Other current liabilities	2,365
Noncurrent
Operating	Operating lease liabilities, excluding current portion	155,703
Finance	Long-term debt, excluding current portion	12,820
Total lease liabilities		$	215,764

Other information related to leases was as follows:



	Three months ended March 31, 2019
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating and finance leases	$	16,695
Financing cash flows from finance leases	$	674

Right-of-use assets obtained in exchange for new operating and finance lease liabilities	$	5,635

Weighted average remaining lease term (years)
Operating leases	6.3
Finance leases	8.3

Weighted average discount rate
Operating leases	12.3		%
Finance leases	8.9		%

Maturities of lease liabilities as of March 31, 2019 were as follows:



	Operating Leases			Finance Leases			Total
2019 (remainder)	$	56,059		$	3,031		$	59,090
2020	57,703			2,824			60,527
2021	49,044			2,268			51,312
2022	30,612			2,073			32,685
2023	22,120			1,952			24,072
Thereafter	83,122			10,367			93,489
Total lease payments	298,660			22,515			321,175
Less: Interest	(98,081		)	(7,330		)	(105,411		)
Present value of lease liabilities	$	200,579		$	15,185		$	215,764



	Total
2019	$	64,082
2020	53,138
2021	42,480
2022	26,445
2023	19,895
Thereafter	45,708
Total minimum payments	$	251,748

Rent expense for all operating leases for the year ended December 31, 2018 was $78.3 million.

Derivatives (Notes)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

We are directly and indirectly affected by changes in foreign currency, which may adversely impact our financial performance and are referred to as “market risks.” When deemed appropriate, we use derivatives as a risk management tool to mitigate the potential impact of certain market risks. We do not enter into derivative financial instruments for trading purposes.

We use a layered hedging program to hedge select anticipated foreign currency cash flows to reduce volatility in cash flows. We account for the designated foreign exchange forward contracts as cash flow hedges. These foreign exchange forward contracts generally have maturities up to 12 months and the counterparties to the transactions are typically large international financial institutions.

We pay interest under our Credit Agreement which fluctuates based on changes in our benchmark interest rates. In order to mitigate the risk of increases in benchmark rates, we entered into interest rate swaps during the third quarter of 2018 whereby we agree to exchange with the counterparty, at specified intervals, the difference between fixed and variable amounts calculated by reference to the notional amount. The interest rate swaps were designated as cash flow hedges. Cash flows related to the interest rate swap agreements are included in interest expense.

We determine the fair value of our foreign currency derivatives and our interest rate swaps based on observable market-based inputs or unobservable inputs that are corroborated by market data. We do not view the fair value of our derivatives in isolation, but rather in relation to the fair values or cash flows of the underlying exposure. Our derivatives are over-the-counter instruments with liquid markets. All derivatives are carried at fair value in our consolidated balance sheets in other assets and other liabilities. We consider the risk of counterparty default to be minimal. We report cash flows from our hedging instruments in the same cash flow statement category as the hedged items.

We enter into foreign currency contracts to manage our foreign exchange exposure related to certain balance sheet items that do not meet the requirements for hedge accounting. These derivative instruments are adjusted to fair value at the end of each period through earnings. The gain or loss recorded on these instruments is substantially offset by the remeasurement adjustment on the foreign currency denominated asset or liability. We record the change in fair value of derivative instruments and the remeasurement adjustment on the foreign currency denominated asset or liability in acquisition-related and exit and realignment charges for contracts assumed with the Halyard acquisition and in other operating expense, net for all other foreign exchange contracts.

The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of March 31, 2019:



				Derivative Assets			Derivative Liabilities
	Notional Amount		Maturity Date	Classification	Fair Value		Classification	Fair Value
Cash flow hedges
Interest rate swaps	$	450,000	May 2022 and 2025	Other assets, net	$	—	Other liabilities	$	10,969
Foreign currency contracts	$	13,448	June 2019 to December 2019	Other assets, net	$	317	Other liabilities	$	—

Economic (non-designated) hedges
Foreign currency contracts	$	10,610	April 2019 to May 2019	Other assets, net	$	229	Other liabilities	$	13

The following table summarizes the effect of cash flow hedge accounting on our consolidated statement of income for the period ended March 31, 2019:



	Amount of Gain/(Loss) Recognized in Other Comprehensive Income (Loss)			Location of Gain/(Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Total Amount of Income/(Expense) Line Items Presented in the Consolidated Statement of Income in Which the Effects are Recorded			Amount of Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Income
Interest rate swaps	$	(4,094	)	Interest expense, net	$	(29,101	)	$	(321	)
Foreign currency contracts	$	445		Cost of goods sold	$	(2,102,964	)	$	(257	)

The amount of ineffectiveness associated with these contracts was immaterial for the periods presented.

For the period ended March 31, 2019, we recognized a gain of $0.5 million associated with our economic (non-designated) foreign currency contracts.

We were not a party to any derivatives for the period ended March 31, 2018.

Exit and Realignment Costs

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Exit and Realignment Costs

We periodically incur exit and realignment and other charges associated with optimizing our operations which includes the consolidation of certain distribution and logistics centers, administrative offices and warehouses in the United States and Europe. These charges also include costs associated with our strategic organizational realignment which include management changes, certain professional fees, and costs to streamline administrative functions and processes.

Exit and realignment charges by segment for the three months ended March 31, 2019 and 2018 were as follows:



	Three Months Ended March 31,
	2019		2018
Global Solutions segment	$	824	$	2,708
Global Products segment	7		(29		)
Total exit and realignment charges	$	831	$	2,679

The following table summarizes the activity related to exit and realignment cost and related accruals through March 31, 2019 and 2018:



	Total ⁽¹⁾
Accrued exit and realignment costs, December 31, 2018	$	8,214
Provision for exit and realignment activities:
Severance	360
Information system restructuring costs	515
Other	83
Change in estimate	(127		)
Cash payments	(3,079		)
Accrued exit and realignment costs, March 31, 2019	$	5,966


Accrued exit and realignment costs, December 31, 2017	$	11,972
Provision for exit and realignment activities:
Severance	2,295
Information system restructuring costs	177
Other	230
Change in estimate	(23		)
Cash payments	(6,886		)
Accrued exit and realignment costs, March 31, 2018	$	7,765

⁽¹⁾The accrued exit and realignment costs at March 31, 2019 and 2018 related primarily to accrued information system restructuring costs and accrued severance.

Retirement Plans

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

Retirement Plans

We have a noncontributory, unfunded retirement plan for certain officers and retirees in the United States. Certain of our foreign subsidiaries also have defined benefit pension plans covering substantially all of their respective employees.

The components of net periodic benefit cost, which are included in distribution, selling and administrative expenses, for the three months ended March 31, 2019 and 2018, were as follows:



	Three Months Ended March 31,
	2019		2018
Service cost	$	374	$	19
Interest cost	600		419
Recognized net actuarial loss	260		522
Net periodic benefit cost	$	1,234	$	960

Certain of our foreign subsidiaries have health and welfare plans covering substantially all of their respective employees. Our expense for these plans totaled $0.6 million and $0.5 million for the three months ended March 31, 2019 and 2018, respectively.

Debt

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Debt

Debt consists of the following:



	March 31, 2019						December 31, 2018
	Carrying Amount			Estimated Fair Value			Carrying Amount			Estimated Fair Value
3.875% Senior Notes, $275 million par value, due September 2021	$	273,684		$	219,307		$	273,577		$	207,001
4.375% Senior Notes, $275 million par value, due December 2024	273,079			177,298			272,972			174,859
Term A Loans, due July 2022	409,212			409,212			422,422			422,422
Term B Loan, due April 2025	482,201			388,050			483,327			385,284
Revolver	282,200			282,200			210,100			210,100
Finance leases and other	16,777			16,777			18,774			18,774
Total debt	1,737,153			1,492,844			1,681,172			1,418,440
Less current maturities	(52,018		)	(52,018		)	(30,590		)	(30,590		)
Long-term debt	$	1,685,135		$	1,440,826		$	1,650,582		$	1,387,850

We have a Credit Agreement (amended February 2019) with a borrowing capacity of $400 million and term loans. The interest rate on our revolving credit facility and Term A loans is based on the Eurocurrency Rate, the Federal Funds Rate or the Prime Rate, plus an adjustment based on our Consolidated Total Leverage Ratio as defined by the Credit Agreement. Our Term B loan accrues interest based on the Eurocurrency Rate, the Federal Funds Rate or the Prime Rate, plus interest rate margin of 3.50% per annum with respect to Base Rate Loans (as defined in the Credit Agreement), and 4.50% per annum with respect to Eurocurrency Rate Loans (as defined in the Credit Agreement). We are charged a commitment fee of between 12.5 and 25.0 basis points on the unused portion of the facility. The terms of the Credit Agreement requires us to maintain ratios for leverage and interest coverage, including on a pro forma basis in the event of an acquisition. Our credit spread at March 31, 2019 was Eurocurrency Rate plus 3.5%.

We also have a Security and Pledge Agreement (the Security Agreement) pursuant to which we granted collateral on behalf of the holders of the 2021 Notes and the 2024 Notes and parties secured on the Credit Agreement (the Secured Parties) including first priority liens and security interests in (a) all present and future shares of capital stock owned by the Credit Parties (as defined) in the Credit Parties’ present and future subsidiaries (limited, in the case of controlled foreign corporations, to a pledge of 65% of the voting capital stock of each first-tier foreign subsidiary of each Credit Party) and (b) all present and future personal property and assets of the Credit Parties, subject to certain exceptions. Our Credit Agreement has a “springing maturity date” with respect to the revolving loans and the Term A loans and the Term B loan, if as of the date that is 91 days prior to the maturity date of the Company’s 2021 Notes or the 2024 Notes, respectively, all outstanding amounts owing under the 2021 Notes or the 2024 Notes, respectively, have not been paid in full then the Termination Date (as defined in the Credit Agreement) of the revolving credit facility, Term A loans and Term B loan shall be the date that is 91 days prior to the maturity date of the 2021 Notes.

At March 31, 2019, we had letters of credit of $11.7 million outstanding under the Credit Agreement. We also had letters of credit and bank guarantees outstanding for $7.7 million as of March 31, 2019 and December 31, 2018, respectively, which supports certain facilities leased as well as other normal business activities in the United States and Europe.

The Credit Agreement and senior notes contain cross-default provisions which could result in the acceleration of payments due in the event of default of either agreement. We believe we were in compliance with our debt covenants at March 31, 2019.

As of March 31, 2019, scheduled future principal payments of debt were $37.2 million in 2019, $49.6 million in 2020, $324.7 million in 2021, $581.0 million in 2022, $5.0 million in 2023, and $748.8 million thereafter.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate was 2.2% for the three months ended March 31, 2019, compared to 41.6% in the same quarter of 2018. The decrease in the rate resulted from the mixture of income and losses in jurisdictions in which the company operates, including those of which require a full valuation allowance, and the incremental income tax expense associated with the vesting of restricted stock. The liability for unrecognized tax benefits was $11.2 million at March 31, 2019 and $9.6 million at December 31, 2018. Included in the liability at March 31, 2019 were $3.3 million of tax positions for which ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.

Net Income per Common Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Net Income per Common Share

The following summarizes the calculation of net income per common share attributable to common shareholders for the three months ended March 31, 2019 and 2018:



	Three Months Ended March 31,
(in thousands, except per share data)	2019			2018
Numerator:
Net income (loss)	$	(14,096	)	$	8,151
Less: income allocated to unvested restricted shares	—			(323		)
Net income (loss) attributable to common shareholders - basic and diluted	$	(14,096	)	$	7,828
Denominator:
Weighted average shares outstanding - basic and diluted	60,376			59,969
Net income (loss) per share attributable to common shareholders:
Basic and diluted	$	(0.23	)	$	0.13

Shareholders' Equity	3 Months Ended
Shareholders' Equity	Mar. 31, 2019
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity Our Board of Directors authorized a share repurchase program of up to $100 million of our outstanding common stock to be executed at the discretion of management over a 3-year period, expiring in December 2019. The timing of repurchases and the exact number of shares of common stock to be purchased will depend upon market conditions and other factors and may be suspended or discontinued at any time. Purchases under the share repurchase program are made either pursuant to 10b5-1 plans entered into by the company from time to time and/or during the company’s scheduled quarterly trading windows for officers and directors. Our Credit Agreement contains restrictions on the amount and timing of share repurchase activity. This includes prohibiting share repurchases should a default under the Credit Agreement exist prior to or immediately after any share repurchases. We did not repurchase any shares of our common stock during the quarters ended March 31, 2019 and 2018. As of March 31, 2019, we have approximately $94.0 million in remaining authorization available under the repurchase program. We have elected to allocate any excess of share repurchase price over par value to retained earnings.

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following table shows the changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2019 and 2018:



	Retirement Plans			Currency Translation Adjustments			Derivatives and Other			Total
Accumulated other comprehensive income (loss), December 31, 2018	$	(8,146	)	$	(32,551	)	$	(4,915	)	$	(45,612	)
Other comprehensive income (loss) before reclassifications	—			(4,207		)	(3,649		)	(7,856		)
Income tax	—			—			808			808
Other comprehensive income (loss) before reclassifications, net of tax	—			(4,207		)	(2,841		)	(7,048		)
Amounts reclassified from accumulated other comprehensive income (loss)	266			—			578			844
Income tax	(69		)	—			(150		)	(219		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	197			—			428			625
Other comprehensive income (loss)	197			(4,207		)	(2,413		)	(6,423		)
Accumulated other comprehensive income (loss), March 31, 2019	$	(7,949	)	$	(36,758	)	$	(7,328	)	$	(52,035	)



	Retirement Plans			Currency Translation Adjustments			Derivatives and Other		Total
Accumulated other comprehensive income (loss), December 31, 2017	$	(12,066	)	$	(13,185	)	$	167	$	(25,084	)
Other comprehensive income (loss) before reclassifications	—			8,921			6		8,927
Income tax	—			—			—		—
Other comprehensive income (loss) before reclassifications, net of tax	—			8,921			6		8,927
Amounts reclassified from accumulated other comprehensive income (loss)	522			—					522
Income tax	(142		)	—			—		(142		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	380			—			—		380
Other comprehensive income (loss)	380			8,921			6		9,307
Accumulated other comprehensive income (loss), March 31, 2018	$	(11,686	)	$	(4,264	)	$	173	$	(15,777	)

We include amounts reclassified out of accumulated other comprehensive income (loss) related to defined benefit pension plans as a component of net periodic pension cost recorded in distribution, selling and administrative expenses. For the three months ended March 31, 2019 and 2018, we reclassified $0.3 million and $0.5 million, respectively, of actuarial net losses.

Segment Information

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Information

We periodically evaluate our application of accounting guidance for reportable segments and disclose information about reportable segments based on the way management organizes the enterprise for making operating decisions and assessing performance. We report our business under two segments: Global Solutions and Global Products. The Global Solutions segment includes our United States and European distribution, logistics and value-added services business. Global Products manufactures and sources medical surgical products through our production and kitting operations. The Halyard business, acquired on April 30, 2018, is part of Global Products.

We evaluate the performance of our segments based on their operating income excluding intangible amortization, acquisition-related and exit and realignment charges, certain purchase price fair value adjustments, and other substantive items that, either as a result of their nature or size, would not be expected to occur as part of our normal business operations on a regular basis.

Segment assets exclude inter-segment account balances as we believe their inclusion would be misleading and not meaningful. We believe all inter-segment sales are at prices that approximate market.

The following tables present financial information by segment:



	Three Months Ended March 31,
	2019			2018
Net revenue:
Segment net revenue
Global Solutions	$	2,234,147		$	2,341,122
Global Products	347,085			121,287
Total segment net revenue	2,581,232			2,462,409
Inter-segment revenue
Global Products	(119,844		)	(89,830		)
Total inter-segment revenue	(119,844		)	(89,830		)
Consolidated net revenue	$	2,461,388		$	2,372,579

Operating income (loss):
Global Solutions	$	21,071		$	36,759
Global Products	7,724			11,084
Inter-segment eliminations	1,747			(242		)
Intangible amortization	(10,361		)	(6,407		)
Acquisition-related and exit and realignment charges	(4,990		)	(14,760		)
Other ⁽¹⁾	(499		)	(2,217		)
Consolidated operating income	$	14,692		$	24,217

Depreciation and amortization:
Global Solutions	$	16,113		$	15,781
Global Products	12,607			2,130
Consolidated depreciation and amortization	$	28,720		$	17,911

Capital expenditures:
Global Solutions	$	11,376		$	13,602
Global Products	2,903			558
Consolidated capital expenditures	$	14,279		$	14,160

⁽¹⁾Other consists of Software as a Service (SaaS) implementation costs associated with significant global IT platforms in connection with the redesign of our global information system strategy.



	March 31, 2019		December 31, 2018
Total assets:
Global Solutions	$	2,673,148	$	2,618,759
Global Products	1,133,977		1,051,662
Segment assets	3,807,125		3,670,421
Cash and cash equivalents	75,239		103,367
Consolidated total assets	$	3,882,364	$	3,773,788

The following table presents net revenue by geographic area, which were attributed based on the location from which we ship products or provide services.



	Three Months Ended March 31,
	2019		2018
Net revenue:
United States	$	2,303,913	$	2,252,634
International	157,475		119,945
Consolidated net revenue	$	2,461,388	$	2,372,579

Condensed Consolidating Financial Information

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Financial Information

The following tables present condensed consolidating financial information for: Owens & Minor, Inc. (O&M); the guarantors of Owens & Minor, Inc.’s 2021 Notes and 2024 Notes, on a combined basis; and the non-guarantor subsidiaries of the 2021 Notes and 2024 Notes, on a combined basis. The guarantor subsidiaries are 100% owned by Owens & Minor, Inc. Separate financial statements of the guarantor subsidiaries are not presented because the guarantees by our guarantor subsidiaries are full and unconditional, as well as joint and several, and we believe the condensed consolidating financial information is more meaningful in understanding the financial position, results of operations and cash flows of the guarantor subsidiaries. The prior period has been recasted for the change in guarantor structure as a result of the amended Credit Agreement.



Three Months Ended March 31, 2019	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	2,371,809		$	337,876		$	(248,297	)	$	2,461,388
Cost of goods sold	—			2,101,290			251,419			(249,745		)	2,102,964
Gross margin	—			270,519			86,457			1,448			358,424
Distribution, selling and administrative expenses	—			231,591			107,112			—			338,703
Acquisition-related and exit and realignment charges	—			4,721			269			—			4,990
Other operating expense, net	—			(426		)	465			—			39
Operating income	—			34,633			(21,389		)	1,448			14,692
Interest expense, net	7,488			18,467			3,146			—			29,101
Income (loss) before income taxes	(7,488		)	16,166			(24,535		)	1,448			(14,409		)
Income tax (benefit) provision	(771		)	(816		)	1,274			—			(313		)
Equity in earnings of subsidiaries	(7,379		)	(957		)	—			8,336			—
Net income (loss)	(14,096		)	16,025			(25,809		)	9,784			(14,096		)
Other comprehensive income (loss)	(6,423		)	(3,393		)	(4,157		)	7,550			(6,423		)
Comprehensive income (loss)	$	(20,519	)	$	12,632		$	(29,966	)	$	17,334		$	(20,519	)



Three Months Ended March 31, 2018	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Income
Net revenue	$	—		$	2,228,490		$	183,637		$	(39,548	)	$	2,372,579
Cost of goods sold	—			1,994,151			93,212			(39,471		)	2,047,892
Gross margin	—			234,339			90,425			(77		)	324,687
Distribution, selling and administrative expenses	(179		)	196,369			88,171			—			284,361
Acquisition-related and exit and realignment charges	—			13,815			945			—			14,760
Other operating expense, net	—			(583		)	1,932			—			1,349
Operating income	179			24,738			(623		)	(77		)	24,217
Interest expense, net	6,741			1,991			1,521			—			10,253
Income (loss) before income taxes	(6,562		)	22,747			(2,144		)	(77		)	13,964
Income tax (benefit) provision	—			4,456			1,357			—			5,813
Equity in earnings of subsidiaries	14,713			150			—			(14,863		)	—
Net income (loss)	8,151			18,441			(3,501		)	(14,940		)	8,151
Other comprehensive income (loss)	9,307			9,363			8,921			(18,284		)	9,307
Comprehensive income (loss)	$	17,458		$	27,804		$	5,420		$	(33,224	)	$	17,458



March 31, 2019	Owens & Minor, Inc.		Guarantor Subsidiaries		Non- guarantor Subsidiaries		Eliminations			Consolidated

Balance Sheets
Assets
Current assets
Cash and cash equivalents	$	5,971	$	43,611	$	25,657	$	—		$	75,239
Accounts receivable, net	—		887,822		598,948		(643,386		)	843,384
Merchandise inventories	—		980,441		233,425		(3,308		)	1,210,558
Other current assets	29		99,190		236,846		—			336,065
Total current assets	6,000		2,011,064		1,094,876		(646,694		)	2,465,246