XML 42 R30.htm IDEA: XBRL DOCUMENT
v3.20.2

Revenue recognition and accounts receivable (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Revenue Recognition And Accounts Receivable [Line Items] |
Schedule of Net Sales by Major Product Category by Reporting Segment | The tables below presents net sales by major product category by reporting segment:
|  | Three Months Ended June 30, |
(U.S. Dollars, in thousands) |  | 2020 |  |  | 2019 |  |  | Change |
Bone Growth Therapies |  | $ | 28,379 |  |  | $ | 50,109 |  |  |  | -43.4 | %
Spinal Implants |  |  | 18,594 |  |  |  | 23,226 |  |  |  | -19.9 | %
Biologics |  |  | 11,125 |  |  |  | 16,744 |  |  |  | -33.6 | %
Global Spine |  |  | 58,098 |  |  |  | 90,079 |  |  |  | -35.5 | %
Global Extremities |  |  | 15,037 |  |  |  | 25,771 |  |  |  | -41.7 | %
Net sales |  | $ | 73,135 |  |  | $ | 115,850 |  |  |  | -36.9 | %
|  | Six Months Ended June 30, |
(U.S. Dollars, in thousands) |  | 2020 |  |  | 2019 |  |  | Change |
Bone Growth Therapies |  | $ | 73,822 |  |  | $ | 97,392 |  |  |  | -24.2 | %
Spinal Implants |  |  | 41,520 |  |  |  | 46,129 |  |  |  | -10.0 | %
Biologics |  |  | 25,074 |  |  |  | 32,476 |  |  |  | -22.8 | %
Global Spine |  |  | 140,416 |  |  |  | 175,997 |  |  |  | -20.2 | %
Global Extremities |  |  | 37,542 |  |  |  | 48,965 |  |  |  | -23.3 | %
Net sales |  | $ | 177,958 |  |  | $ | 224,962 |  |  |  | -20.9 | %
Schedule of Components Net Sales | The table below presents product sales and marketing service fees, which are both components of net sales:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(U.S. Dollars, in thousands) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Product sales |  | $ | 62,435 |  |  | $ | 99,865 |  |  | $ | 153,856 |  |  | $ | 193,799 |
Marketing service fees |  |  | 10,700 |  |  |  | 15,985 |  |  |  | 24,102 |  |  |  | 31,163 |
Net sales |  | $ | 73,135 |  |  | $ | 115,850 |  |  | $ | 177,958 |  |  | $ | 224,962 |
Allowances for Expected Credit Losses | The following table provides a detail of changes in the Company’s allowance for expected credit losses for the three and six months ended June 30, 2020:
(U.S. Dollars, in thousands) |  | Three Months Ended June 30, 2020 |  |  | Six Months Ended June 30, 2020 |
Allowance for expected credit losses beginning balance |  | $ | 5,591 |  |  | $ | 3,987 |
Impact of adoption of ASU 2016-13 |  |  | — |  |  |  | 1,120 |
Current period provision for expected credit losses |  |  | 885 |  |  |  | 1,564 |
Writeoffs charged against the allowance and other |  |  | (224 | ) |  |  | (338 | )
Effect of changes in foreign exchange rates |  |  | 112 |  |  |  | 31 |
Allowance for expected credit losses ending balance |  | $ | 6,364 |  |  | $ | 6,364 |
ASU 2016-13 [Member] |
Revenue Recognition And Accounts Receivable [Line Items] |
Schedule of Net Impact of Adoption to Balance Sheet | The net impact of adoption to the Company’s balance sheet as of January 1, 2020 is presented in the table below. The standard did not have a material impact to the Company’s condensed consolidated statements of operations or cash flows.
(U.S. Dollars, in thousands) |  | December 31, 2019 |  |  | Impact of Adoption of ASC 326 |  |  | January 1, 2020 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Cash, cash equivalents, and restricted cash |  | $ | 70,403 |  |  | $ | — |  |  | $ | 70,403 |
Accounts receivable, net |  |  | 86,805 |  |  |  | (1,120 | ) |  |  | 85,685 |
Inventories |  |  | 82,397 |  |  |  | — |  |  |  | 82,397 |
Prepaid expenses and other current assets |  |  | 20,948 |  |  |  | — |  |  |  | 20,948 |
Total current assets |  |  | 260,553 |  |  |  | (1,120 | ) |  |  | 259,433 |
Deferred income taxes |  |  | 35,117 |  |  |  | 233 |  |  |  | 35,350 |
Other long-term assets |  |  | 199,950 |  |  |  | — |  |  |  | 199,950 |
Total assets |  | $ | 495,620 |  |  | $ | (887 | ) |  | $ | 494,733 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
Total liabilities |  | $ | 167,989 |  |  | $ | — |  |  | $ | 167,989 |
Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
Common shares |  | $ | 1,902 |  |  | $ | — |  |  | $ | 1,902 |
Additional paid-in capital |  |  | 271,019 |  |  |  | — |  |  |  | 271,019 |
Retained earnings |  |  | 57,749 |  |  |  | (887 | ) |  |  | 56,862 |
Accumulated other comprehensive loss |  |  | (3,039 | ) |  |  | — |  |  |  | (3,039 | )
Total shareholders’ equity |  |  | 327,631 |  |  |  | (887 | ) |  |  | 326,744 |
Total liabilities and shareholders’ equity |  | $ | 495,620 |  |  | $ | (887 | ) |  | $ | 494,733 |

X
- Definition Revenue recognition and accounts receivable. + References No definition available. + Details
Name: | ofix_RevenueRecognitionAndAccountsReceivableLineItems
Namespace Prefix: | ofix_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of net sales. + References No definition available. + Details
Name: | ofix_ScheduleOfNetSalesTableTextBlock
Namespace Prefix: | ofix_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447 + Details
Name: | us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e765-108305 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e725-108305 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201613Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |