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Acquisition of Spinal Kinetics, Inc. (Tables) | 12 Months Ended
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Dec. 31, 2018
Business Combinations [Abstract] |
Schedule of Fair Value of Consideration Transferred | The fair value of the consideration transferred was $76.6 million, which consisted of the following:
(U.S. Dollars, in thousands) |  | As of April 30, 2018 |  |  | Adjustments |  |  | As of December 31, 2018 |
Fair value of consideration transferred |  |  |  |  |  |  |  |  |  |  |  |
Cash paid |  | $ | 50,564 |  |  | $ | 545 |  |  | $ | 51,109 |
Contingent consideration |  |  | 25,491 |  |  |  | — |  |  |  | 25,491 |
Total fair value of consideration transferred |  | $ | 76,055 |  |  | $ | 545 |  |  | $ | 76,600 |
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. 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 acquired deferred income taxes and tax attributes, including net operating loss carryforwards, which is expected to be completed within one year from the Acquisition Date.
(U.S. Dollars, in thousands) |  | As of April 30, 2018 |  |  | Adjustments |  |  | As of December 31, 2018 |  |  | Assigned Useful Life
Assets acquired |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 6,785 |  |  | $ | — |  |  | $ | 6,785 |  |  |
Restricted cash |  |  | 30 |  |  |  | — |  |  |  | 30 |  |  |
Accounts receivable |  |  | 1,705 |  |  |  | — |  |  |  | 1,705 |  |  |
Inventories |  |  | 8,175 |  |  |  | — |  |  |  | 8,175 |  |  |
Prepaid expenses and other current assets |  |  | 315 |  |  |  | — |  |  |  | 315 |  |  |
Property, plant and equipment |  |  | 2,285 |  |  |  | — |  |  |  | 2,285 |  |  |
Other long-term assets |  |  | 320 |  |  |  | — |  |  |  | 320 |  |  |
Developed technology |  |  | 12,400 |  |  |  | — |  |  |  | 12,400 |  |  | 10 years
In-process research and development ("IPR&D") |  |  | 26,800 |  |  |  | — |  |  |  | 26,800 |  |  | Indefinite
Tradename |  |  | 100 |  |  |  | — |  |  |  | 100 |  |  | 2 years
Deferred income taxes |  |  | 3,483 |  |  |  | (1,109 | ) |  |  | 2,374 |  |  |
Total identifiable assets acquired |  | $ | 62,398 |  |  | $ | (1,109 | ) |  | $ | 61,289 |  |  |
Liabilities assumed |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 351 |  |  | $ | — |  |  | $ | 351 |  |  |
Other current liabilities |  |  | 2,873 |  |  |  | — |  |  |  | 2,873 |  |  |
Other long-term liabilities |  |  | 301 |  |  |  | — |  |  |  | 301 |  |  |
Total liabilities assumed |  |  | 3,525 |  |  |  | — |  |  |  | 3,525 |  |  |
Goodwill |  |  | 17,182 |  |  |  | 1,654 |  |  |  | 18,836 |  |  |
Total fair value of consideration transferred |  | $ | 76,055 |  |  | $ | 545 |  |  | $ | 76,600 |  |  |
Summary of Unaudited Pro forma Results | The following table presents the unaudited pro forma results for the years ended December 31, 2018 and 2017,
(U.S. Dollars, in thousands) |  | 2018 |  |  | 2017 |
|  | (unaudited) |  |  | (unaudited) |
Net sales |  | $ | 457,960 |  |  | $ | 448,277 |
Net income (loss) from continuing operations |  |  | 16,157 |  |  |  | (1,492 | )

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