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Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table presents the notional contract amounts for forward contracts outstanding:

									As of
			FASB ASC Topic 815 Designation						December 31, 2024						December 31, 2023
Forward exchange contracts			Cash flow hedge						$	224,177					$	223,839
Forward exchange contracts			Non-designated						38,892						55,789

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

Foreign exchange contracts designated as cash flow hedges had the following effects on accumulated other comprehensive income (loss) ("AOCI") and net earnings on our consolidated statements of comprehensive income (loss) and our consolidated balance sheets:

						Amount of Gain Recognized in AOCI												Consolidated Statements of Comprehensive Income (Loss)																		Amount of Gain Reclassified from AOCI
						Years Ended																		Total Amount of Line Item Presented												Years Ended
Derivative Instrument						2024			2023			2022						Location of amount reclassified						2024			2023			2022						2024			2023			2022
Foreign exchange contracts						$	10,928		$	5,489		$	14,494					Net Sales						$	1,307,015		$	1,244,744		$	1,045,472					$	4,285		$	3,790		$	15,085
																		Cost of Sales						573,983			568,499			474,227						1,125			4,840			939
Pre-tax gain						$	10,928		$	5,489		$	14,494																							$	5,410		$	8,630		$	16,024
Tax expense						2,649			1,331			3,513																								1,311			2,092			3,884
Net gain						$	8,279		$	4,158		$	10,981																							$	4,099		$	6,538		$	12,140

Derivatives Not Designated as Hedging Instruments

Net gain (loss) from derivative instruments not accounted for as hedges and loss on our intercompany receivables on our consolidated statements of comprehensive income (loss) were:

												Years Ended
Derivative Instrument						Location on Consolidated Statements of Comprehensive Income (Loss)						2024						2023						2022
Net gain (loss) on currency forward contracts						Selling and administrative expense						$	608					$	(891)					$	(240)
Net loss on currency transaction exposures						Selling and administrative expense						$	(3,043)					$	(1,305)					$	(1,950)

Schedule of Fair Value for Forward Foreign Exchange Contracts

We record these forward foreign exchange contracts at fair value. The following tables summarize the fair value for forward foreign exchange contracts outstanding at December 31, 2024 and 2023:

December 31, 2024			Location on Consolidated Balance Sheet						Asset Fair Value						Liabilities Fair Value						Net  Fair Value
Derivatives designated as hedging instruments:
Foreign exchange contracts			Prepaid expenses and other current assets						$	8,702					$	(3,294)					$	5,408
Foreign exchange contracts			Other assets						388						(124)						264
									$	9,090					$	(3,418)					$	5,672
Derivatives not designated as hedging instruments:
Foreign exchange contracts			Other current liabilities						33						(110)						(77)
Total derivatives									$	9,123					$	(3,528)					$	5,595

December 31, 2023			Location on Consolidated Balance Sheet						Asset Fair Value						Liabilities Fair Value						Net  Fair Value
Derivatives designated as hedging instruments:
Foreign exchange contracts			Prepaid expenses and other current assets						$	3,761					$	(3,197)					$	564
Foreign exchange contracts			Other long-term liabilities						24						(433)						(409)
									$	3,785					$	(3,630)					$	155
Derivatives not designated as hedging instruments:
Foreign exchange contracts			Other current liabilities						39						(209)						(170)
Total derivatives									$	3,824					$	(3,839)					$	(15)

Fair Value Measurement Inputs and Valuation Techniques

The recurring Level 3 fair value measurements of contingent consideration for which the liabilities are recorded include the following significant unobservable inputs as of December 31, 2024:

						Assumptions
Unobservable Input						In2Bones			Biorez
Discount rate						7.75%			13.38%
Revenue volatility						19.60%			21.97%
Projected year of payment						2025-2026			2025-2026

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

Changes in the fair value of contingent consideration liabilities for years ended December 31, 2024 and December 31, 2023 are as follows:

			In2Bones						Biorez
Balance at January 1, 2023			$	70,198					$	116,234
Payments			(13,867)						—
Changes in fair value of contingent consideration			(14,938)						12,517
Balance at December 31, 2023			$	41,393					$	128,751
Payments			(3,029)						(53,850)
Changes in fair value of contingent consideration			(27,168)						(13,880)
Balance at December 31, 2024			$	11,196					$	61,021

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