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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Business Acquisitions, by Acquisition



	Preliminary Fair Value Originally Estimated as of Acquisition Date ⁽¹⁾		Differences Between Prior and Current Period Preliminary Fair Value Estimate			Fair Value as of Acquisition Date
Assets acquired:
Current assets	$	330,870	$	—		$	330,870
Goodwill	130,217		(23,877		)	106,340
Intangible assets	191,230		13,000			204,230
Other noncurrent assets	218,387		5,616			224,003
Total assets	870,704		(5,261		)	865,443
Liabilities assumed:
Current liabilities	92,438		(12,428		)	80,010
Noncurrent liabilities	20,217		7,167			27,384
Total liabilities	112,655		(5,261		)	107,394
Fair value of net assets acquired, net of cash	$	758,049	$	—		$	758,049

Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net revenue	$ 9,210,939	$ 9,418,192
Cost of goods sold	8,082,448	8,347,666
Gross margin	1,128,491	1,070,526
Distribution, selling and administrative expenses	1,023,065	952,865
Goodwill and intangible asset impairment charges	0	413,945
Acquisition-related and exit and realignment charges	30,050	59,101
Other operating expense (income), net	2,225	(3,039)
Operating income (loss)	73,151	(352,346)
Interest expense, net	98,113	70,983
Other expense, net	3,757	3,765
Loss from continuing operations before income taxes	(28,719)	(427,094)
Income tax benefit	(6,135)	(32,429)
Loss from continuing operations	(22,584)	(394,665)
Loss from discontinued operations, net of tax	(39,787)	(42,347)
Net loss	$ (62,371)	$ (437,012)
Net income attributable to Owens & Minor, Inc. per common share:
Continuing operations per basic and diluted (in usd per share)	$ (0.37)	$ (6.58)
Discontinued operations per basic and diluted (in usd per share)	(0.66)	(0.70)
Basic and diluted (in usd per share)	$ (1.03)	$ (7.28)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 67,030	$ 66,308
Accounts receivable, net	674,706	756,687
Merchandise inventories	1,146,192	1,273,726
Other current assets	79,372	121,926
Current assets of discontinued operations	439,983	319,930
Total current assets	2,407,283	2,538,577
Property and equipment, net	315,427	323,943
Operating lease assets	142,219
Goodwill	393,181	414,122
Intangible assets, net	285,018	314,175
Other assets, net	99,956	84,510
Other assets of discontinued operations	0	98,461
Total assets	3,643,084	3,773,788
Current liabilities
Accounts payable	808,035	1,065,197
Accrued payroll and related liabilities	53,584	38,358
Other current liabilities	231,029	178,930
Current liabilities of discontinued operations	323,511	189,526
Total current liabilities	1,416,159	1,472,011
Long-term debt, excluding current portion	1,508,415	1,647,918
Operating lease liabilities, excluding current portion	117,080
Deferred income taxes	40,550	50,852
Other liabilities	98,726	77,690
Other liabilities of discontinued operations	0	6,898
Total liabilities	3,180,930	3,255,369
Commitments and contingencies
Equity
Common stock, par value $2 per share; authorized—200,000 shares; issued and outstanding— 62,843 shares and 62,294 shares	125,686	124,588
Paid-in capital	251,401	238,773
Retained earnings	137,774	200,670
Accumulated other comprehensive loss	(52,707)	(45,612)
Total equity	462,154	518,419
Total liabilities and equity	$ 3,643,084	$ 3,773,788

Summary of Significant Accounting Policies - Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash and cash equivalents	$ 67,030	$ 66,308
Restricted cash included in Other assets, net	16,261	0
Cash of discontinued operations	1,396	37,059
Total cash, cash equivalents and restricted cash	$ 84,687	$ 103,367	$ 104,522

Exit and Realignment Costs - Accrual for Exit and Realignment Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Severance
Restructuring Reserve [Roll Forward]
Accrued exit and realignment charges, beginning balance	$ 7,477	$ 10,668
Restructuring charges	6,008	7,988
Change in estimate	(127)	(108)
Cash payments	(13,712)	(17,256)
Accrued exit and realignment charges, ending balance	8,162	7,477
Information system restructuring costs
Restructuring Reserve [Roll Forward]
Restructuring charges	2,531	2,802
Other
Restructuring Reserve [Roll Forward]
Restructuring charges	$ 5,985	$ 3,383

Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Dec. 31, 2017		61,476
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)	(437,012)			(437,012)
Other comprehensive loss	(20,528)				(20,528)
Dividends declared ($0.86 per share for 2018, $1.03 per share for 2017, $1.02 per share for 2016)	(52,992)			(52,992)
Share-based compensation expense, exercises and other (in shares)		818
Share-based compensation expense, exercises and other	$ 13,472	$ 1,636	11,836
Ending Balance (in shares) at Dec. 31, 2018	61,476	62,294
Ending 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)	(62,371)			(62,371)
Other comprehensive loss	(7,095)				(7,095)
Dividends declared ($0.86 per share for 2018, $1.03 per share for 2017, $1.02 per share for 2016)	(525)			(525)
Share-based compensation expense, exercises and other (in shares)		549
Share-based compensation expense, exercises and other	$ 13,726	$ 1,098	12,628
Ending Balance (in shares) at Dec. 31, 2019	62,294	62,843
Ending Balance at Dec. 31, 2019	$ 462,154	$ 125,686	$ 251,401	$ 137,774	$ (52,707)

- Definition

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

+ References + Details

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Operating lease assets		$ 142,219
Operating lease liabilities		148,648
Rent expense, net	$ 56,100
Finance lease assets, gross	26,200	15,900
Finance lease asset, accumulated depreciation	$ 14,800	$ 8,000
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Operating lease assets			$ 197,000
Operating lease liabilities			$ 201,000

Retirement Plans - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Minimum service period	1 month
Minimum age requirement	18 years
Eligibility criteria for employees under savings and retirement plans	one month of service and have attained age 18
Savings And Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Percentage of employer contributions to eligible employees based on salary, minimum	1.00%
Expense recognized	$ 10,500	$ 10,700
United States
Defined Benefit Plan Disclosure [Line Items]
Recognized net actuarial loss	900
Accumulated benefit obligation	53,602	48,163
Net periodic benefit cost	2,923	3,765
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	7,300	7,200
Net periodic benefit cost	$ 1,000	$ 1,000	$ 100

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Financial Information by Segment

The following tables present financial information by segment:



Year ended December 31,	2019			2018
Net revenue:
Segment net revenue
Global Solutions	$	8,243,867		$	8,767,549
Global Products	1,433,977			1,111,322
Total segment net revenue	9,677,844			9,878,871
Inter-segment net revenue
Global Products	(466,905		)	(460,679		)
Total inter-segment net revenue	(466,905		)	(460,679		)
Consolidated net revenue	$	9,210,939		$	9,418,192

Operating income (loss):
Global Solutions	$	83,592		$	108,761
Global Products	65,054			75,688
Inter-segment eliminations	45			(3,014		)
Goodwill and intangible asset impairment charges	—			(413,945		)
Intangible amortization	(44,009		)	(35,132		)
Acquisition-related and exit and realignment charges	(30,050		)	(59,101		)
Other ⁽¹⁾	(1,481		)	(25,603		)
Consolidated operating income (loss)	$	73,151		$	(352,346	)

Depreciation and amortization:
Global Solutions	$	42,444		$	45,182
Global Products	54,302			38,217
Discontinued operations	19,932			18,528
Consolidated depreciation and amortization	$	116,678		$	101,927

Capital expenditures:
Global Solutions	$	10,987		$	38,169
Global Products	22,289			16,161
Discontinued operations	18,952			11,355
Consolidated capital expenditures	$	52,228		$	65,685

⁽¹⁾ 2019 and 2018 included interest cost and net actuarial losses related to the U.S. Retirement Plan as well as software as a service (Saas) implementation costs associated with the upgrading of our global IT platforms in connection with the redesign of our global information system strategy. 2018 also includes the incremental charge to cost of goods sold from purchase accounting impacts related to the sale of acquired inventory that was written up to fair value.

Consolidated Total Assets



December 31,	2019		2018
Total assets:
Global Solutions	$	2,205,134	$	2,237,427
Global Products	930,937		1,051,662
Segment assets	3,136,071		3,289,089
Discontinued operations	439,983		418,391
Cash and cash equivalents	67,030		66,308
Consolidated total assets	$	3,643,084	$	3,773,788

Financial Information by Geographic Area

The following tables present information by geographic area. Net revenues were attributed to geographic areas based on the locations from which we ship products or provide services.



Year ended December 31,	2019		2018
Net revenue:
United States	$	8,871,599	$	9,261,149
International	339,340		157,043
Consolidated net revenue	$	9,210,939	$	9,418,192



December 31,	2019		2018
Long-lived assets:
United States	$	632,643	$	582,667
International	153,604		193,322
Consolidated long-lived assets	$	786,247	$	775,989

Merchandise Inventories	12 Months Ended
Merchandise Inventories	Dec. 31, 2019
Inventory Disclosure [Abstract]
Merchandise Inventories	Merchandise InventoriesAt December 31, 2019 and 2018 we had inventory of $1,146 million and $1,274 million, of which $866.8 million and $1,023.1 million were valued under LIFO. If LIFO inventories had been valued on a current cost or FIFO basis, they would have been greater by $154.7 million and $146.5 million as of December 31, 2019 and 2018. At December 31, 2019 and 2018, included in our inventory was $37.4 million and $43.8 million in raw materials, $61.8 million and $67.3 million in work in process and the remainder was finished goods.

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Net intangible assets	$ 285,018	$ 314,175
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	270,693	251,557
Accumulated amortization	(92,947)	(62,283)
Net intangible assets	$ 177,746	$ 189,274
Weighted average useful life	10 years	10 years
Tradenames
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 90,000	$ 97,000
Accumulated amortization	(16,520)	(8,543)
Net intangible assets	$ 73,480	$ 88,457
Weighted average useful life	11 years	11 years
Other Intangibles
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 43,055	$ 40,285
Accumulated amortization	(9,263)	(3,841)
Net intangible assets	$ 33,792	$ 36,444
Weighted average useful life	8 years	8 years

Derivatives - Outstanding hedges (Details) - Cash Flow Hedging - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Interest rate swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	$ 450,000	$ 450,000
Interest rate swaps \| Designated as Hedging Instrument \| Other Assets
Derivative [Line Items]
Derivative asset, fair value, gross asset	0	0
Interest rate swaps \| Designated as Hedging Instrument \| Other Liabilities
Derivative [Line Items]
Derivative liability, fair value, gross liability	$ 17,436	6,875
Foreign currency contracts \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount		25,592
Foreign currency contracts \| Designated as Hedging Instrument \| Other Assets
Derivative [Line Items]
Derivative asset, fair value, gross asset		20
Foreign currency contracts \| Designated as Hedging Instrument \| Other Liabilities
Derivative [Line Items]
Derivative liability, fair value, gross liability		0
Foreign currency contracts \| Not Designated as Hedging Instrument, Economic Hedge
Derivative [Line Items]
Derivative, notional amount		32,683
Foreign currency contracts \| Not Designated as Hedging Instrument, Economic Hedge \| Other Assets
Derivative [Line Items]
Derivative asset, fair value, gross asset		0
Foreign currency contracts \| Not Designated as Hedging Instrument, Economic Hedge \| Other Liabilities
Derivative [Line Items]
Derivative liability, fair value, gross liability		$ 198

Income Taxes - Reconciliation Of Federal Statutory Rate To Effective Income Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%
Increases (decreases) in the rate resulting from:
State income taxes, net of federal income tax impact	6.60%	1.50%
Foreign income taxes	(3.70%)	(0.10%)
Valuation allowance	(1.40%)	0.00%
Research and development credit	9.80%	0.20%
Uncertain tax positions	(5.00%)	0.20%
Tax Reform and other prior period adjustments	0	0.004
Restricted stock vestings	(6.70%)	(0.20%)
Goodwill and intangible asset impairment charges	0.00%	(14.20%)
Other	0.80%	(1.20%)
Effective income tax rate	21.40%	7.60%

Retirement Plans - Amounts Recognized As Component Of Accumulated Other Comprehensive Loss, Domestic (Detail) - United States - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ (19,732)	$ (13,722)
Deferred tax benefit	7,866	5,562
Amounts included in accumulated other comprehensive loss, net of tax	$ (11,866)	$ (8,160)

Significant Risks And Uncertainties - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Vizient \| Minimum
Unusual Risk or Uncertainty [Line Items]
Customer revenue as a percentage of net revenue	37.00%	40.00%
Vizient \| Maximum
Unusual Risk or Uncertainty [Line Items]
Customer revenue as a percentage of net revenue	40.00%	37.00%
Premier \| Minimum
Unusual Risk or Uncertainty [Line Items]
Customer revenue as a percentage of net revenue	19.00%	19.00%
Premier \| Maximum
Unusual Risk or Uncertainty [Line Items]
Customer revenue as a percentage of net revenue	21.00%	21.00%
HPG \| Minimum
Unusual Risk or Uncertainty [Line Items]
Customer revenue as a percentage of net revenue	13.00%	13.00%
HPG \| Maximum
Unusual Risk or Uncertainty [Line Items]
Customer revenue as a percentage of net revenue	14.00%	14.00%

Leases - Supplemental balance sheet information (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Assets
Operating lease assets	$ 142,219
Finance lease assets	7,948
Total lease assets	150,167
Current
Operating	31,568
Finance	1,014
Noncurrent
Operating	117,080
Finance	11,692
Present value of lease liabilities	$ 161,354

Net Loss per Common Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Net Loss per Common Share

The following table summarizes the calculation of net loss per share attributable to common shareholders for the years ended December 31, 2019 and 2018:



Year ended December 31,	2019			2018
Weighted average shares outstanding - basic and diluted	60,574			60,014

Loss from continuing operations	$	(22,584	)	$	(394,665	)
Basic and diluted per share	$	(0.37	)	$	(6.58	)

Loss from discontinued operations	$	(39,787	)	(42,347		)
Basic and diluted per share	$	(0.66	)	$	(0.70	)

Net loss	$	(62,371	)	$	(437,012	)
Basic and diluted per share	$	(1.03	)	$	(7.28	)

Derivatives (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of December 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 May 2025

Other assets, net

—

Other liabilities

17,436

The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of December 31, 2018:



				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 May 2025	Other assets, net	$	—	Other liabilities	$	6,875
Foreign currency contracts	$	25,592	January 2019 - December 2019	Other assets, net	$	20	Other liabilities	$	—

Economic (non-designated) hedges
Foreign currency contracts	$	32,683	January 2019 - April 2019	Other assets, net	$	—	Other liabilities	$	198

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the year ended December 31, 2019:



	Amount of Loss Recognized in Other Comprehensive Loss			Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income	Total Amount of Expense Line Items Presented in the Consolidated Statement of Operations in Which the Effects are Recorded			Amount of Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Income
Interest rate swaps	$	(12,983	)	Interest expense, net	$	(98,113	)	$	(2,423	)
Foreign currency contracts	$	(28	)	Cost of goods sold	$	(8,082,448	)	$	517

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959

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-Name Accounting Standards Codification
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-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959

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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959

+ Details

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill impairment charge		$ 397,636
Intangible assets, net	$ 285,018	314,175
Intangible amortization	44,000	35,100
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Estimated amortization expense for 2020	41,500
Estimated amortization expense for 2021	39,800
Estimated amortization expense for 2022	38,900
Estimated amortization expense for 2023	38,700
Estimated amortization expense for 2024	33,900
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	177,746	189,274
Global Solutions
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill impairment charge		180,175
Intangible assets, net	80,700	99,200
Global Products
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill impairment charge		217,461
Intangible assets, net	$ 204,300	214,900
Global Products \| Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Asset impairment charges		$ 16,500

Derivatives

12 Months Ended

Dec. 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, the remaining of which expired during 2019, generally had maturities up to 12 months and the counterparties to the transactions were typically large international financial institutions.

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 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 enter into interest rate swaps 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.

The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of December 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 May 2025

Other assets, net

—

Other liabilities

17,436

The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of December 31, 2018:



				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 May 2025	Other assets, net	$	—	Other liabilities	$	6,875
Foreign currency contracts	$	25,592	January 2019 - December 2019	Other assets, net	$	20	Other liabilities	$	—

Economic (non-designated) hedges
Foreign currency contracts	$	32,683	January 2019 - April 2019	Other assets, net	$	—	Other liabilities	$	198

The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the year ended December 31, 2019:



	Amount of Loss Recognized in Other Comprehensive Loss			Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income	Total Amount of Expense Line Items Presented in the Consolidated Statement of Operations in Which the Effects are Recorded			Amount of Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Income
Interest rate swaps	$	(12,983	)	Interest expense, net	$	(98,113	)	$	(2,423	)
Foreign currency contracts	$	(28	)	Cost of goods sold	$	(8,082,448	)	$	517

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

For the year ended December 31, 2019 we recognized a gain of $1.0 million associated with our economic (non-designated) foreign currency contracts. For the year ended December 31, 2018, we recognized a loss of $1.6 million associated with our economic (non-designated) foreign currency contracts.

We recorded 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.

For the year ended December 31, 2019, we reclassified $2.4 million associated with our interest rate swaps and $0.5 million associated with our foreign currency contracts out of accumulated other comprehensive loss. For the year ended December 31, 2018, we reclassified $1.0 million associated with our interest rate swaps and $0.1 million associated with our foreign currency contracts out of accumulated other comprehensive loss.

Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Statement Of Income



Year ended December 31, 2019	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Operations
Net revenue	$	—		$	9,135,401		$	956,217		$	(880,679	)	$	9,210,939
Cost of goods sold	—			8,066,842			895,851			(880,245		)	8,082,448
Gross margin	—			1,068,559			60,366			(434		)	1,128,491
Distribution, selling and administrative expenses	(1,056		)	909,263			118,549			(3,691		)	1,023,065
Goodwill and intangible asset impairment charges	—			—			—			—			—
Acquisition-related and exit and realignment charges	—			24,757			5,293			—			30,050
Other operating (income) expense, net	(379		)	56,434			(53,830		)	—			2,225
Operating income (loss)	1,435			78,105			(9,646		)	3,257			73,151
Interest expense, net	(67,483		)	147,988			17,608			—			98,113
Other (income) expense, net	(1,173		)	2,003			2,927			—			3,757
Income (loss) from continuing operations before income taxes	70,091			(71,886		)	(30,181		)	3,257			(28,719		)
Income tax (benefit) provision	—			(5,207		)	(928		)	—			(6,135		)
Equity in earnings (loss) of subsidiaries	(92,675		)	(59,710		)	—			152,385			—
Income (loss) from continuing operations	(22,584		)	(126,389		)	(29,253		)	155,642			(22,584		)
Income (loss) from discontinued operations, net of tax	—			—			(39,787		)	—			(39,787		)
Net income (loss)	(22,584		)	(126,389		)	(69,040		)	155,642			(62,371		)
Other comprehensive income (loss), net of tax	(7,095		)	6,890			13,930			(20,820		)	(7,095		)
Comprehensive income (loss)	$	(29,679	)	$	(119,499	)	$	(55,110	)	$	134,822		$	(69,466	)



Year ended December 31, 2018	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Statements of Operations
Net revenue	$	—		$	9,420,326		$	691,073		$	(693,207	)	$	9,418,192
Cost of goods sold	—			8,418,859			618,834			(690,027		)	8,347,666
Gross margin	—			1,001,467			72,239			(3,180		)	1,070,526
Distribution, selling and administrative expenses	(4,242		)	882,224			74,883			—			952,865
Goodwill and intangible asset impairment charges	—			180,006			233,939			—			413,945
Acquisition-related and exit and realignment charges	—			45,997			13,104			—			59,101
Other operating (income) expense, net	—			3,881			(6,920		)	—			(3,039		)
Operating income (loss)	4,242			(110,641		)	(242,767		)	(3,180		)	(352,346		)
Interest expense, net	21,896			58,265			(9,178		)	—			70,983
Other (income) expense, net	3,765			—			—			—			3,765
Income (loss) from continuing operations before income taxes	(21,419		)	(168,906		)	(233,589		)	(3,180		)	(427,094		)
Income tax (benefit) provision	(5,569		)	(31,285		)	4,425			—			(32,429		)
Equity in earnings (loss) of subsidiaries	(421,162		)	(90,771		)	—			511,933			—
Income (loss) from continuing operations	(437,012		)	(228,392		)	(238,014		)	508,753			(394,665		)
Income (loss) from discontinued operations, net of tax	—			—			(42,347		)	—			(42,347		)
Net income (loss)	(437,012		)	(228,392		)	(280,361		)	508,753			(437,012		)
Other comprehensive income (loss), net of tax	(20,528		)	(14,940		)	(18,873		)	33,813			(20,528		)
Comprehensive income (loss)	$	(457,540	)	$	(243,332	)	$	(299,234	)	$	542,566		$	(457,540	)



December 31, 2019	Owens & Minor, Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Balance Sheets
Assets
Current assets
Cash and cash equivalents	$	45,187		$	3,011		$	18,808		$	24		$	67,030
Accounts receivable, net	77			890,548			915,798			(1,131,717		)	674,706
Merchandise inventories	—			973,529			177,853			(5,190		)	1,146,192
Other current assets	180			69,761			78,319			(68,888		)	79,372
Current assets of discontinued operations	—			—			439,983			—			439,983
Total current assets	45,444			1,936,849			1,630,761			(1,205,771		)	2,407,283
Property and equipment, net	—			196,708			118,719			—			315,427
Operating lease assets, net	—			142,219			—			—			142,219
Goodwill, net	—			109,276			283,905			—			393,181
Intangible assets, net	—			198,392			86,626			—			285,018
Due from O&M and subsidiaries	—			—			—			—			—
Advances to and investments in consolidated subsidiaries	1,608,017			363,122			—			(1,971,139		)	—
Other assets, net	5,948			824,349			27,750			(758,091		)	99,956
Total assets	$	1,659,409		$	3,770,915		$	2,147,761		$	(3,935,001	)	$	3,643,084
Liabilities and equity
Current liabilities
Accounts payable	$	—		$	1,558,074		$	391,386		$	(1,141,425	)	$	808,035
Accrued payroll and related liabilities	—			38,755			14,829			—			53,584
Other current liabilities	4,403			235,955			93,243			(102,572		)	231,029
Current liabilities of discontinued operations	—			—			323,511			—			323,511
Total current liabilities	4,403			1,832,784			822,969			(1,243,997		)	1,416,159
Long-term debt, excluding current portion	688,110			809,565			10,740			—			1,508,415
Due to O&M and subsidiaries	487,306			80,093			786,382			(1,353,781		)	—
Intercompany debt	—			816,785			752,105			(1,568,890		)	—
Operating Lease Liabilities, excluding current portion	—			117,080			—			—			117,080
Deferred income taxes	—			—			40,550			—			40,550
Other liabilities	17,436			64,612			16,658			20			98,726
Total liabilities	1,197,255			3,720,919			2,429,404			(4,166,648		)	3,180,930
Equity
Common stock	125,686			—			—			—			125,686
Paid-in capital	251,401			174,614			123,869			(298,483		)	251,401
Retained earnings (deficit)	137,774			(88,615		)	(388,676		)	477,291			137,774
Accumulated other comprehensive income (loss)	(52,707		)	(36,003		)	(16,836		)	52,839			(52,707		)
Total equity	462,154			49,996			(281,643		)	231,647			462,154
Total liabilities and equity	$	1,659,409		$	3,770,915		$	2,147,761		$	(3,935,001	)	$	3,643,084

Condensed Consolidating Balance Sheets



December 31, 2019	Owens & Minor, Inc.			Guarantor Subsidiaries		Non-guarantor Subsidiaries		Eliminations			Consolidated
Balance Sheets
Assets
Current assets
Cash and cash equivalents	$	45,187		$	3,011	$	18,808	$	24		$	67,030
Accounts receivable, net	77			890,548		915,798		(1,131,717		)	674,706
Merchandise inventories	—			973,529		177,853		(5,190		)	1,146,192
Other current assets	180			69,761		78,319		(68,888		)	79,372
Current assets of discontinued operations	—			—		439,983		—			439,983
Total current assets	45,444			1,936,849		1,630,761		(1,205,771		)	2,407,283
Property and equipment, net	—			196,708		118,719		—			315,427
Operating lease assets, net	—			142,219		—		—			142,219
Goodwill, net	—			109,276		283,905		—			393,181
Intangible assets, net	—			198,392		86,626		—			285,018
Due from O&M and subsidiaries	—			—		—		—			—
Advances to and investments in consolidated subsidiaries	1,608,017			363,122		—		(1,971,139		)	—
Other assets, net	5,948			824,349		27,750		(758,091		)	99,956
Total assets	$	1,659,409		$	3,770,915	$	2,147,761	$	(3,935,001	)	$	3,643,084
Liabilities and equity
Current liabilities
Accounts payable	$	—		$	1,558,074	$	391,386	$	(1,141,425	)	$	808,035
Accrued payroll and related liabilities	—			38,755		14,829		—			53,584
Other current liabilities	4,403			235,955		93,243		(102,572		)	231,029
Current liabilities of discontinued operations	—			—		323,511		—			323,511
Total current liabilities	4,403			1,832,784		822,969		(1,243,997		)	1,416,159
Long-term debt, excluding current portion	688,110			809,565		10,740		—			1,508,415
Due to O&M and subsidiaries	487,306			80,093		786,382		(1,353,781		)	—
Intercompany debt	—			816,785		752,105		(1,568,890		)	—
Operating Lease Liabilities, excluding current portion	—			117,080		—		—			117,080
Deferred income taxes	—		<