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ACQUISITIONS AND PRO FORMA RESULTS (Tables) | 12 Months Ended
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Dec. 31, 2015
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following summarizes the preliminary allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:
| Preliminary Purchase Price Allocation |
| (Dollars in thousands) |
Inventory | $ | 1,143 |  |
PP&E | 669 |  |
Other current assets | 11 |  |
Intangible assets: |  | Wtd. Avg. Life:
Supplier Contracts | 4,981 |  | 2 - 13 Years
Goodwill | 9,665 |  |
Total assets acquired | 16,469 |  |
Accrued expenses and other liabilities acquired | 753 |  |
Deferred tax liability | 1,564 |  |
Net assets acquired | $ | 14,152 |  |
The following summarizes the preliminary allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:
| Preliminary Purchase Price Allocation |
| (Dollars in thousands) |
Inventory | $ | 2,688 |  |
Property, plant, and equipment | 1,453 |  |
Intangible assets: |  | Life:
Ankle product family | 3,210 |  | 11 years
Toe product family | 460 |  | 10 years
Total assets acquired | 7,811 |  |
Deferred tax liability | 700 |  |
Net assets acquired | $ | 7,111 |  |
The following summarizes the preliminary allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:
| Preliminary Purchase Price Allocation |
| (Dollars in thousands) |
Cash | $ | 1,241 |  |
Accounts receivable, net | 9,011 |  |
Inventory | 23,223 |  |
Property, plant, and equipment | 2,027 |  |
Income tax receivable | 5,135 |  |
Other current assets | 2,670 |  |
Intangible assets: |  |  | Wtd. Avg. Life:
Developed technology | 167,400 |  | 14 - 16 Years
Contractual relationships | 51,345 |  | 11 - 14 Years
Leasehold interest | 69 |  |
Goodwill | 147,878 |  |
Total assets acquired | 409,999 |  |
Accrued expenses and other liabilities | 9,732 |  |
Deferred tax liabilities | 87,908 |  |
Other non-current liabilities | — |  |
Net assets acquired | $ | 312,359 |  |
Schedule of Assets Acquired and Liabilities Assumed | The following summarizes the final allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:
| Final Purchase Price Allocation |
| (Dollars in thousands) |
Inventory | $ | 4,800 |  |
Property, plant, and equipment | 1,246 |  |
Intangible assets: |  | Wtd. Avg. Life:
Technology product rights | 20,590 |  | 8 - 14 Years
In-process research and development | 190 |  | Indefinite
Goodwill | 732 |  |
Net assets acquired | $ | 27,558 |  |
The following summarizes the final allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:
| Final Purchase Price Allocation |
| (Dollars in thousands) |
Cash | $ | 2,195 |  |
Inventory | 3,155 |  |
Prepaid expenses | 620 |  |
Property, plant, and equipment | 3,675 |  |
Other current assets | 5,025 |  |
Intangible assets: |  | Wtd. Avg. Life:
Trade name | 11,990 |  | 20 Years
Technology | 4,580 |  | 15 - 16 Years
Customer relationships | 18,130 |  | 12 - 16 Years
Goodwill | 16,607 |  |
Total assets acquired | 65,977 |  |
Accounts payable and other liabilities | 5,910 |  |
Net assets acquired | $ | 60,067 |  |
The following summarizes the final allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:
| Final Purchase Price Allocation |
| (Dollars in thousands) |
Inventory deposit | $ | 4,000 |  |
Property, plant, and equipment | 438 |  |
Intangible assets: |  | Wtd. Avg. Life:
Technology product rights | 239,800 |  | 3 - 20 Years
Other | 400 |  |
Deferred tax assets - long term | 12 |  |
Goodwill | 105,331 |  |
Total assets acquired | 349,981 |  |
Contingent supply liability | 5,891 |  |
Other | 731 |  |
Deferred tax liabilities - long term | 87,464 |  |
Net assets acquired | $ | 255,895 |  |
The following summarizes the final allocation of the purchase price based on fair value of the assets acquired and liabilities assumed:
| Final Purchase Price Allocation |  |
| (Dollars in thousands) |  |
Cash | $ | 85 |  |  |
Prepaid expenses | 13 |  |  |
Intangible assets: |  |  | Wtd. Avg. Life:
Technology | 5,040 |  |  | 10 - 14 years
In-process research and development | 340 |  |  | Indefinite
Deferred tax asset - long term | 1,334 |  |  |
Goodwill | 116 |  |  |
Total assets acquired | 6,928 |  |  |
Accounts payable and other liabilities | 111 |  |  |
Deferred tax liability | 2,152 |  |  |
Net assets acquired | $ | 4,665 |  |  |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration | A reconciliation of the opening balances to the closing balances of these Level 3 measurements is as follows (in thousands):
|  |  | Location in Statement of Operations
Balance as of January 1, 2015 | $ | 22,008 |  |  |
Write-off of Metasurg contingent consideration | (650 | ) |  | Selling, general, and administrative
Loss from decrease in fair value of contingent consideration liability | 473 |  |  | Selling, general and administrative
Fair value at December 31, 2015 | $ | 21,831 |  |  |
Pro Forma Financial Information, Summary of Results of Operations | The impact of the Tarsus acquisition is not material to the consolidated operating results of the Company; therefore, the pro-forma impact of the acquisition has not been presented.
| Year Ended December 31,
| 2015 | 2014 | 2013
| (In thousands except per share amounts)
Total revenue from continuing operations | $ | 940,005 |  | $ | 921,998 |  | 803,073 |
Net income from continuing operations | $ | 10,694 |  | $ | 40,721 |  | 35,796 |
Net income from continuing operations per share: |  |  |
Basic | $ | 0.31 |  | $ | 1.26 |  | $ | 1.10 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 + Details
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