XML 41 R28.htm IDEA: XBRL DOCUMENT
v3.8.0.1

ACQUISITIONS, DIVESTITURE AND PRO FORMA RESULTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following summarizes the preliminary allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed:
| Preliminary Purchase Price Allocation |  | Weighted Average Life
| (Dollars in thousands) |  |
Inventory | 77,921 |  |  |
Assets held for sale | 30,813 |  |  |
Other current assets | 2,036 |  |  |
Property, plant and equipment | 35,949 |  |  |
Intangible assets: |  |  |
Codman corporate trade name | 162,900 |  |  | Indefinite
Completed technology | 379,900 |  |  | 22 years
Goodwill | 346,219 |  |  |
Total assets acquired | 1,035,738 |  |  |
Accrued expenses | 1,730 |  |  |
Pension liabilities | 19,917 |  |  |
Net assets acquired | $ | 1,014,091 |  |  |
The following summarizes the allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed:
| Purchase Price Allocation |  | Weighted Average Life
| (Dollars in thousands) |  |
Inventory | $ | 1,143 |  |  |
Property, plant and equipment | 669 |  |  |
Other current assets | 11 |  |  |
Intangible assets: |  |  |
Supplier Contracts | 4,981 |  |  | 2 - 13 Years
Goodwill | 9,665 |  |  |
Total assets acquired | 16,469 |  |  |
Accrued expenses and other liabilities acquired | 802 |  |  |
Deferred tax liability | 1,564 |  |  |
Net assets acquired | $ | 14,103 |  |  |
The following summarizes the allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed:
| Purchase Price Allocation |  | Weighted Average Life
| (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: |  |  |  |
Developed technology | 167,400 |  |  | 14 - 16 Years
Contractual relationships | 51,345 |  |  | 11 - 14 Years
Leasehold interest | 69 |  |  |
Goodwill | 147,704 |  |  |
Total assets acquired | 409,825 |  |  |
Accrued expenses and other liabilities | 9,732 |  |  |
Deferred tax liabilities | 87,908 |  |  |
Net assets acquired | $ | 312,185 |  |  |
The following summarizes the allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed:
| Purchase Price Allocation |  | Weighted Average Life
| (Dollars in thousands) |  |
Cash and cash equivalents | $ | 16,512 |  |  |
Short-term investments | 19,238 |  |  |
Accounts receivable | 8,949 |  |  |
Inventory | 17,977 |  |  |
Prepaid expenses and other current assets | 4,369 |  |  |
Property, plant and equipment | 4,311 |  |  |
Intangible assets: |  |  |
Customer relationship | 78,300 |  |  | 14 years
Trademarks/brand names | 13,500 |  |  | 15 years
Completed technology | 11,600 |  |  | 14 years
Non-compete agreement | 280 |  |  | 1 year
Goodwill | 73,765 |  |  |
Deferred tax assets | 14,524 |  |  |
Other assets | 101 |  |  |
Total assets acquired | 263,426 |  |  |
Accounts payable | 4,560 |  |  |
Accrued expenses and other current liabilities | 7,409 |  |  |
Contingent liability | 37,174 |  |  |
Other liabilities | 3,805 |  |  |
Net assets acquired | $ | 210,478 |  |  |
The following summarizes the allocation of the purchase price as based on the fair value of the assets acquired and liabilities assumed:
| Purchase Price Allocation |  | Weighted Average Life
| (Dollars in thousands) |  |
Inventory | $ | 2,688 |  |  |
Property, plant, and equipment | 1,453 |  |  |
Intangible assets: |  |  |
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 allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed:
| Purchase Price Allocation |  | Weighted Average Life
| (Dollars in thousands) |  |
Cash and cash equivalents | $ | 49 |  |  |
Accounts receivables | 279 |  |  |
Property, plant and equipment | 3 |  |  |
Intangible assets: |  |  |
Completed technology | 4,707 |  |  | 13 Years
Goodwill | 641 |  |  |
Total assets acquired | 5,679 |  |  |
Accounts payable | 13 |  |  |
Accrued expenses and other current liabilities | 65 |  |  |
Other liabilities | 234 |  |  |
Net assets acquired | $ | 5,367 |  |  |
Pro Forma Financial Information, Summary of Results of Operations |
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
| (Pro forma)
| (In thousands except per share amounts)
Total revenue from continuing operations | $ | 1,428,491 |  |  | $ | 1,446,903 |  |  | $ | 940,005 |
Net income from continuing operations | $ | 81,730 |  |  | $ | 27,520 |  |  | $ | 10,694 |
Basic earnings per share from continuing operations | $ | 1.06 |  |  | $ | 0.37 |  |  | $ | 0.31 |
Schedule of Assets and Liabilities Divested | The following table summarizes results from discontinued operations of SeaSpine included in the consolidated statement of operations for the year ended December 31, 2015 (in thousands):
Total revenue | $ | 65,775 |
Costs and expenses | 80,618 |
Operating loss | (14,843 | )
Other expense, net | (766 | )
Loss from discontinued operations before tax | (15,609 | )
Benefit for income taxes | (5,239 | )
Loss from discontinued operations | $ | (10,370 | )
The following table presents Integra's spine business assets and liabilities removed from the consolidated balance sheet as of July 1, 2015:
Assets: |
Cash | $ | 47,178 |
Accounts receivable | 20,856 |
Inventory | 49,425 |
Other current assets | 13,411 |
Current assets of discontinued operations | 130,870 |
Property, plant, and equipment, net | 21,093 |
Intangible assets, net | 43,122 |
Other assets | 4,465 |
Non-current assets of discontinued operations | 68,680 |
Total assets of discontinued operations | $ | 199,550 |
Liabilities: |
Accounts payable | $ | 7,072 |
Accrued compensation | 5,964 |
Accrued expenses and other current liabilities | 3,361 |
Current liabilities of discontinued operations | 16,397 |
Deferred tax liabilities | 13,331 |
Other liabilities | 2,593 |
Long-term liabilities of discontinued operations | 15,924 |
Total liabilities of discontinued operations | $ | 32,321 |
Assets and liabilities divested consisted of the following as of October 6, 2017 (amounts in thousands):
Inventories | $ | 8,348 |
Prepaid expenses and other current assets | 36 |
Assets held for sale | 30,813 |
Property, plant and equipment, net | 1,122 |
Goodwill | 2,861 |
Total assets divested | $ | 43,180 |
Deferred revenue | $ | 1,082 |
Accrued compensation | 209 |
Total liabilities divested | $ | 1,291 |

X
- 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=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=84161108&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration