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Revenue recognition and accounts receivable | 3 Months Ended
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Mar. 31, 2019
Revenue Recognition And Accounts Receivable [Abstract] |
Revenue recognition and accounts receivable | 11. Revenue recognition and accounts receivable Revenue Recognition The Company has two reporting segments, which consist of Global Spine and Global Extremities. Within the Global Spine reporting segment there are three product categories: Bone Growth Therapies, Spinal Implants and Biologics. The tables below present net sales by major product category by reporting segment:
|  | Three Months Ended March 31, |
(U.S. Dollars, in thousands) |  | 2019 |  |  | 2018 |  |  | Change |
Bone Growth Therapies |  | $ | 47,283 |  |  | $ | 46,163 |  |  |  | 2.4 | %
Spinal Implants |  |  | 22,903 |  |  |  | 20,707 |  |  |  | 10.6 | %
Biologics |  |  | 15,732 |  |  |  | 14,335 |  |  |  | 9.7 | %
Global Spine |  |  | 85,918 |  |  |  | 81,205 |  |  |  | 5.8 | %
Global Extremities |  |  | 23,194 |  |  |  | 27,504 |  |  |  | -15.7 | %
Net sales |  | $ | 109,112 |  |  | $ | 108,709 |  |  |  | 0.4 | %
Product Sales and Marketing Service Fees The table below presents net sales, which includes product sales and marketing service fees, for the three months ended March 31, 2019 and 2018.
|  | Three Months Ended March 31, |
(U.S. Dollars, in thousands) |  | 2019 |  |  | 2018 |
Product sales |  | $ | 93,934 |  |  | $ | 94,889 |
Marketing service fees |  |  | 15,178 |  |  |  | 13,820 |
Net sales |  | $ | 109,112 |  |  | $ | 108,709 |
Product sales primarily consist of the sale of bone growth therapy devices and internal and external fixation products. Marketing service fees are received from MTF Biologics based on total sales of biologics tissues and relate solely to the Global Spine reporting segment. Revenues exclude any value added or other local taxes, intercompany sales and trade discounts. Shipping and handling costs for products shipped to customers are included in cost of sales. Other Contract Assets The Company’s contract assets, excluding trade accounts receivable (“other contract assets”), largely consist of payments made to certain distributors to obtain contracts, gain access to customers in certain territories, and to provide the benefit of the exclusive distribution of Orthofix products. Other contract assets are included in other long-term assets or other current assets, dependent upon the original term of the related agreement, and totaled $2.7 million and $1.9 million as of March 31, 2019, and December 31, 2018, respectively.

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- Definition Revenue recognition and accounts receivable. + References No definition available. + Details
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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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