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Fair value measurements and investments (Tables) | 3 Months Ended
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Mar. 31, 2021
Fair Value Measurements And Investment Disclosure [Abstract] |
Schedule of Financial Assets and Liabilities Recorded at Fair Value on Recurring Basis | The fair value of the Company’s financial assets and liabilities measured on a recurring basis were as follows:
|  | March 31, 2021 |  |  | December 31, 2020 |
(U.S. Dollars, in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Neo Medical preferred equity securities |  | $ | — |  |  | $ | 5,000 |  |  | $ | — |  |  | $ | 5,000 |  |  | $ | 5,000 |
Neo Medical convertible loan agreement |  |  | — |  |  |  | — |  |  |  | 6,200 |  |  |  | 6,200 |  |  |  | 7,160 |
Bone Biologics equity securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | — |  |  | $ | 5,000 |  |  | $ | 6,200 |  |  | $ | 11,200 |  |  | $ | 12,160 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Spinal Kinetics contingent consideration |  | $ | — |  |  | $ | — |  |  | $ | (36,900 | ) |  | $ | (36,900 | ) |  | $ | (35,400 | )
Other contingent consideration |  |  | — |  |  |  | — |  |  |  | (375 | ) |  |  | (375 | ) |  |  | (375 | )
Deferred compensation plan |  |  | — |  |  |  | (1,381 | ) |  |  | — |  |  |  | (1,381 | ) |  |  | (1,441 | )
Total |  | $ | — |  |  | $ | (1,381 | ) |  | $ | (37,275 | ) |  | $ | (38,656 | ) |  | $ | (37,216 | )
Schedule of Reconciliation For Convertible Loan Measured At Fair Value Using Significant Unobservable Inputs | The following table provides a reconciliation of the beginning and ending balances of the Convertible Loan, measured at fair value using significant unobservable inputs (Level 3):
(U.S. Dollars, in thousands) |  | 2021 |  |  | 2020 |
Fair value of Neo Medical Convertible Loan at January 1 |  | $ | 7,160 |  |  | $ | — |
Interest recognized in interest income, net |  |  | 96 |  |  |  | — |
Foreign currency remeasurement recognized in other expense, net |  |  | (330 | ) |  |  | — |
Unrealized loss recognized in other comprehensive loss |  |  | (726 | ) |  |  | — |
Fair value of Neo Medical Convertible Loan at March 31 |  |  | 6,200 |  |  |  | — |
Amortized cost basis of Neo Medical Convertible Loan at March 31 |  |  | 5,045 |  |  |  | — |
Schedule of Changes in Valuation of Securities | The following table provides quantitative information related to certain key assumptions utilized within the valuation as of March 31, 2021:
(U.S. Dollars, in thousands) |  | Fair Value as of March 31, 2021 |  |  | Unobservable inputs |  | Estimate |
Neo Medical Convertible Loan |  | $ | 6,200 |  |  | Cost of equity discount rate |  |  | 21.9 | %
|  |  |  |  |  | Implied volatility |  |  | 92.7 | %
The following table provides a range of key assumptions used within the valuation as of March 31, 2021.
(U.S. Dollars, in thousands) |  | Fair Value as of March 31, 2021 |  |  | Valuation Technique |  | Unobservable inputs |  | Range
Spinal Kinetics contingent consideration |  | $ | 36,900 |  |  | Discounted cash flow |  | Revenue discount rate |  | 8.1% - 8.2%
|  |  |  |  |  |  |  | Payment discount rate |  | 4.2% - 4.3%
|  |  |  |  |  |  |  | Projected year of payment |  | 2021 - 2022
Schedule of Reconciliation For Contingent Consideration Measured At Fair Value Using Significant Unobservable Inputs | The following table provides a reconciliation of the beginning and ending balances for the Spinal Kinetics contingent consideration measured at estimated fair value using significant unobservable inputs (Level 3):
(U.S. Dollars, in thousands) |  | 2021 |  |  | 2020 |
Spinal Kinetics contingent consideration estimated fair value at January 1 |  | $ | 35,400 |  |  | $ | 42,700 |
Increase (decrease) in fair value recognized in acquisition-related amortization and remeasurement |  |  | 1,500 |  |  |  | (9,000 | )
Spinal Kinetics contingent consideration estimated fair value at March 31 |  | $ | 36,900 |  |  | $ | 33,700 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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