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Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

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						March 31, 2025						December 31, 2024
Forward exchange contracts			Cash flow hedge						$	225,134					$	224,177
Forward exchange contracts			Non-designated						47,015						38,892

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 condensed statements of comprehensive income and our consolidated condensed balance sheets:

						Amount of Gain (Loss) Recognized in AOCI												Consolidated Condensed Statements of Comprehensive Income															Amount of Gain (Loss) Reclassified from AOCI
						Three Months Ended March 31,
																								Total Amount of Line Item Presented
Derivative Instrument						2025						2024						Location of amount reclassified						2025			2024						2025						2024
Foreign exchange contracts						$	(3,677)					$	7,258					Net Sales						$	321,256		$	312,273					$	1,851					$	641
																		Cost of Sales						143,504			140,308						(686)						746
Pre-tax gain (loss)						$	(3,677)					$	7,258																				$	1,165					$	1,387
Tax expense (benefit)						(891)						1,759																					282						336
Net gain (loss)						$	(2,786)					$	5,499																				$	883					$	1,051

.

Derivatives Not Designated as Hedging Instruments

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

												Three Months Ended March 31,
Derivative Instrument						Location on Consolidated Condensed Statements of Comprehensive Income						2025						2024
Net gain (loss) on currency forward contracts						Selling and administrative expense						$	(789)					$	671
Net gain (loss) on currency transaction exposures						Selling and administrative expense						$	141					$	(1,245)

Schedule of Fair Value for Forward Foreign Exchange Contracts

The following tables summarize the fair value for forward foreign exchange contracts outstanding at March 31, 2025 and December 31, 2024:

March 31, 2025			Location on Consolidated Condensed Balance Sheet						Asset Fair Value						Liabilities Fair Value						Net Fair Value
Derivatives designated as hedged instruments:
Foreign exchange contracts			Prepaid expenses and other current assets						$	3,868					$	(2,534)					$	1,334
Foreign exchange contracts			Other long-term liabilities						305						(811)						(506)
									$	4,173					$	(3,345)					$	828
Derivatives not designated as hedging instruments:
Foreign exchange contracts			Other current liabilities						31						(188)						(157)
Total derivatives									$	4,204					$	(3,533)					$	671

December 31, 2024			Location on Consolidated Condensed Balance Sheet						Asset Fair Value						Liabilities Fair Value						Net Fair Value
Derivatives designated as hedged 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

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 March 31, 2025:

						Assumptions
Unobservable Input						In2Bones			Biorez
Discount rate						7.72%			12.67%
Revenue volatility						18.20%			21.95%
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 the three months ended March 31, 2025 and 2024 are as follows:

			In2Bones									Biorez
			2025			2024						2025			2024
Balance as of January 1,			$	11,196		$	41,393					$	61,021		$	128,751
Payments			—			(2,187)						(7,166)			(24,741)
Changes in fair value of contingent consideration			(987)			(8,561)						4,949			2,016
Balance as of March 31,			$	10,209		$	30,645					$	58,804		$	106,026

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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