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Goodwill | 12 Months Ended
--- | ---
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill |
8. | Goodwill
The Company tests goodwill at least annually for impairment. The Company tests more frequently if indicators are present or changes in circumstances suggest that impairment may exist. These indicators include, among others, declines in sales, earnings or cash flows, or the development of a material adverse change in the business climate. The Company assesses goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment. As part of the change in reporting segments, which occurred during the first quarter of 2019, the Company performed a quantitative assessment of goodwill immediately prior to and subsequently following the change in reporting segments. The analysis did not result in an impairment. In addition, the net carrying value of goodwill that was previously reported under the prior reporting segments of (i) Bone Growth Therapies, (ii) Spinal Implants, and (iii) Biologics has been consolidated and is now included within the Global Spine reporting segment. In the fourth quarter of 2021, the Company performed a quantitative assessment of its goodwill. The Company estimated the fair value of each reporting unit using a weighted average of fair value derived from both an income approach and a market approach (all Level 3 fair value measurements). Upon estimating the fair value of each of its reporting units, the Company determined its Global Orthopedics reporting unit’s fair value was less than its carrying value of net assets. This resulted in recording a full impairment of the Global Orthopedics goodwill of $11.8 million, which is reflected within Acquisition-related amortization and remeasurement. This amount also represents the total of the Company’s accumulated goodwill impairment losses as of December 31, 2021. The assessment concluded there were no indicators of impairment for the Global Spine goodwill. The following table presents the net carrying value of goodwill, and a rollforward of such balances from December 31, 2020, by reportable segment:
(U.S. Dollars, in thousands) |  | December 31, 2020 |  |  | Impairment |  |  | Currency Translation Adjustment |  |  | December 31, 2021 |
Global Spine |  | $ | 71,317 |  |  | $ | — |  |  | $ | — |  |  | $ | 71,317 |
Global Orthopedics |  |  | 12,701 |  |  |  | (11,756 | ) |  |  | (945 | ) |  |  | — |
Goodwill |  | $ | 84,018 |  |  | $ | (11,756 | ) |  | $ | (945 | ) |  | $ | 71,317 |

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- Definition The entire disclosure for goodwill. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2144439 + Details
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