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Acquisition of Spinal Kinetics, Inc. (Tables) | 6 Months Ended
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Jun. 30, 2018
Business Combinations [Abstract] |
Schedule of Acquisition Date Fair Value of Consideration Transferred | The acquisition date fair value of the consideration transferred was $76.1 million, which consisted of the following:
(U.S. Dollars, in thousands) |  |  |  |
Fair value of consideration transferred |  |  |  |
Cash paid |  |  | 50,564 |
Contingent consideration |  |  | 25,491 |
Total fair value of consideration transferred |  |  | 76,055 |
Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the acquisition date. A final determination of the allocation of the purchase price to assets acquired and liabilities assumed has not been made and the following should be considered preliminary. The final determination is subject to completion of the Company’s valuation of the assets acquired and liabilities assumed, which it expects to complete within one year.
(U.S. Dollars, in thousands) |  | As of April 30, 2018 |  |  | Assigned Useful Life
Assets acquired |  |  |  |  |  |
Cash and cash equivalents |  | $ | 6,785 |  |  |
Restricted cash |  |  | 30 |  |  |
Accounts receivable |  |  | 1,705 |  |  |
Inventories |  |  | 8,175 |  |  |
Prepaid expenses and other current assets |  |  | 315 |  |  |
Property, plant and equipment |  |  | 2,285 |  |  |
Other long-term assets |  |  | 320 |  |  |
Developed technology |  |  | 12,400 |  |  | 10 years
In-process research and development ("IPR&D") |  |  | 26,800 |  |  | Indefinite
Tradename |  |  | 100 |  |  | 2 years
Deferred income taxes |  |  | 3,483 |  |  |
Total identifiable assets acquired |  |  | 62,398 |  |  |
Liabilities assumed |  |  |  |  |  |
Accounts payable |  | $ | 351 |  |  |
Other current liabilities |  |  | 2,873 |  |  |
Other long-term liabilities |  |  | 301 |  |  |
Total liabilities assumed |  |  | 3,525 |  |  |
Goodwill |  |  | 17,182 |  |  |
Total fair value of consideration transferred |  |  | 76,055 |  |  |
Summary of Unaudited Pro forma Results | The following table presents the unaudited pro forma results for the six months ended June 30, 2018 and 2017,
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(U.S. Dollars, in thousands) |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |
Net sales |  | $ | 112,718 |  |  | $ | 112,350 |  |  | $ | 225,173 |  |  | $ | 219,163 |
Net income (loss) from continuing operations |  |  | 2,161 |  |  |  | 2,484 |  |  |  | 7,099 |  |  |  | (1,076 | )

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&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://fasb.org/us-gaap/role/ref/legacyRef -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
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