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Assets Held for Sale | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Assets Held for Sale | SALE OF SPINAL IMPLANTS BUSINESS During the fourth quarter 2024 management committed to a plan to sell certain assets associated with the Spinal Implants business (disposal group) and such assets were classified as held for sale beginning November 2024. As a result we recorded a valuation allowance of $362 to record the disposal group at its fair value less cost to sell. In April 2025 we completed the sale of the disposal group to the Viscogliosi Brothers, LLC. I n the six months 2025 we recognized immaterial impairment charges to recor d the disposal group at its fair value less cost to sell within goodwill and other impairments in our Consolidated Statements of Earnings. The fair value of the disposal group and consideration received was measured using a discounted cash flow analysis based upon the selling price and unobservable inputs, such as market conditions and the rate used to discount the estimated future cash flows to their present value based on factors including the disposal group’s cost of equity and market yield rates, which are Level 3 inputs. Consideration could increase by up to $57 or decrease by up to $245 based on the amount received. The assets associated with the disposal group are reported in our Orthopaedics segment at December 31, 2024. The assets and liabilities held for sale at December 31, 2024 are classified within prepaid expenses and other current assets and accrued expenses and other liabilities in our Consolidated Balance Sheets. The assets and liabilities of the disposal group at the date of sale and at December 31, 2024 were as follows:
|  |  | Held for Sale
| Date of Sale |  | December 31
| 2025 |  | 2024
Accounts receivable, net | $56 |  | $62
Total inventories | 195 |  | 183
Prepaid expenses and other current assets | 27 |  | 10
Property, plant and equipment, net | 53 |  | 51
Other intangibles, net | 323 |  | 326
Noncurrent deferred income tax assets | 9 |  | 9
Other noncurrent assets | 179 |  | 171
Valuation allowance | (395) |  | (362)
Total assets | $447 |  | $450
Accounts payable | $41 |  | $28
Accrued compensation | 20 |  | 26
Accrued expenses and other liabilities | 24 |  | 29
Other noncurrent liabilities | 27 |  | 21
Total liabilities | $112 |  | $104

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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