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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 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 |  | June 30, 2025 |  | December 31, 2024
Forward exchange contracts | Cash flow hedge |  | $ | 228,427 |  |  | $ | 224,177 |
Forward exchange contracts | Non-designated |  | 57,223 |  |  | 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 Loss Recognized in AOCI |  | Consolidated Condensed Statements of Comprehensive Income |  | Amount of Gain (Loss) Reclassified from AOCI
|  | Three Months Ended June 30,
|  |  |  |  |  |  |  | Total Amount of Line Item Presented |  |  |  |
Derivative Instrument |  | 2025 |  | 2024 |  | Location of amount reclassified |  | 2025 | 2024 |  | 2025 |  | 2024
Foreign exchange contracts |  | $ | (9,927) |  |  | $ | (499) |  |  | Net Sales |  | $ | 342,345 |  | $ | 332,097 |  |  | $ | (693) |  |  | $ | 1,349 |
|  |  |  |  |  | Cost of Sales |  | 154,025 |  | 148,368 |  |  | (207) |  |  | 626 |
Pre-tax gain (loss) |  | $ | (9,927) |  |  | $ | (499) |  |  |  |  |  |  |  | $ | (900) |  |  | $ | 1,975 |
Tax expense (benefit) |  | (2,406) |  |  | (121) |  |  |  |  |  |  |  | (218) |  |  | 479 |
Net gain (loss) |  | $ | (7,521) |  |  | $ | (378) |  |  |  |  |  |  |  | $ | (682) |  |  | $ | 1,496 |
|  | Amount of Gain (Loss) Recognized in AOCI |  | Consolidated Condensed Statements of Comprehensive Income |  | Amount of Gain (Loss) Reclassified from AOCI
|  | Six Months Ended June 30,
|  |  |  |  |  |  |  | Total Amount of Line Item Presented |  |  |  |
Derivative Instrument |  | 2025 |  | 2024 |  | Location of amount reclassified |  | 2025 | 2024 |  | 2025 |  | 2024
Foreign exchange contracts |  | $ | (13,603) |  |  | $ | 6,759 |  |  | Net Sales |  | $ | 663,600 |  | $ | 644,371 |  |  | $ | 1,158 |  |  | $ | 1,990 |
|  |  |  |  |  | Cost of Sales |  | 297,529 |  | 288,677 |  |  | (892) |  |  | 1,372 |
Pre-tax gain (loss) |  | $ | (13,603) |  |  | $ | 6,759 |  |  |  |  |  |  |  | $ | 266 |  |  | $ | 3,362 |
Tax expense (benefit) |  | (3,297) |  |  | 1,639 |  |  |  |  |  |  |  | 64 |  |  | 815 |
Net gain (loss) |  | $ | (10,306) |  |  | $ | 5,120 |  |  |  |  |  |  |  | $ | 202 |  |  | $ | 2,547 |
. |  |  |  |  |  |  |  |  |  |  |  |  |
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 June 30, |  | Six Months Ended June 30,
Derivative Instrument |  | Location on Consolidated Condensed Statements of Comprehensive Income |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net gain (loss) on currency forward contracts |  | Selling and administrative expense |  | $ | (1,291) |  |  | $ | 211 |  |  | $ | (2,080) |  |  | $ | 882 |
Net gain (loss) on currency transaction exposures |  | Selling and administrative expense |  | $ | 432 |  |  | $ | (965) |  |  | $ | 1,343 |  |  | $ | (2,210) |
Schedule of Fair Value for Forward Foreign Exchange Contracts | The following tables summarize the fair value for forward foreign exchange contracts outstanding at June 30, 2025 and December 31, 2024:
June 30, 2025 | Location on Consolidated Condensed Balance Sheet |  | Asset Fair Value |  | Liabilities Fair Value |  | Net Fair Value
Derivatives designated as hedged instruments: |  |  |  |  |  |  |
Foreign exchange contracts | Other current liabilities |  | $ | 1,347 |  |  | $ | (7,030) |  |  | $ | (5,683) |
Foreign exchange contracts | Other long-term liabilities |  | 590 |  |  | (3,105) |  |  | (2,515) |
|  |  | $ | 1,937 |  |  | $ | (10,135) |  |  | $ | (8,198) |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign exchange contracts | Other current liabilities |  | 12 |  |  | (435) |  |  | (423) |
Total derivatives |  |  | $ | 1,949 |  |  | $ | (10,570) |  |  | $ | (8,621) |
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 June 30, 2025:
|  | Assumptions
Unobservable Input |  | In2Bones | Biorez
Discount rate |  | 7.32% | 12.28%
Revenue volatility |  | 17.23% | 20.70%
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 six months ended June 30, 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 | — |  | (3,028) |  |  | (14,094) |  | (36,401) |  |
Changes in fair value of contingent consideration | (6,193) |  | (20,760) |  |  | 8,356 |  | 5,541 |  |
Balance as of June 30, | $ | 5,003 |  | $ | 17,605 |  |  | $ | 55,283 |  | $ | 97,891 |  |

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- Definition Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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