XML 26 R16.htm IDEA: XBRL DOCUMENT
v3.23.1

Revenue recognition and accounts receivable | 3 Months Ended
--- | ---
Mar. 31, 2023
Revenue Recognition And Accounts Receivable [Abstract] |
Revenue recognition and accounts receivable | 10. Revenue recognition and accounts receivable Revenue Recognition The Company has two reporting segments, which consist of Global Spine and Global Orthopedics. Within the Global Spine reporting segment, there are three product categories: Bone Growth Therapies, Spinal Implants and Enabling Technologies, and Biologics. The table below presents net sales by major product category by reporting segment:
|  | Three Months Ended March 31, |
(Unaudited, U.S. Dollars, in thousands) |  | 2023 |  |  | 2022 |  |  | Change |
Bone Growth Therapies |  | $ | 47,714 |  |  | $ | 41,948 |  |  |  | 13.7 | %
Spinal Implants and Enabling Technologies |  |  | 60,862 |  |  |  | 26,615 |  |  |  | 128.7 | %
Biologics |  |  | 40,630 |  |  |  | 14,092 |  |  |  | 188.3 | %
Global Spine |  |  | 149,206 |  |  |  | 82,655 |  |  |  | 80.5 | %
Global Orthopedics |  |  | 25,998 |  |  |  | 23,763 |  |  |  | 9.4 | %
Net sales |  | $ | 175,204 |  |  | $ | 106,418 |  |  |  | 64.6 | %
Product Sales and Marketing Service Fees The table below presents product sales and marketing service fees, which are both components of net sales:
|  | Three Months Ended March 31, |
(Unaudited, U.S. Dollars, in thousands) |  | 2023 |  |  | 2022 |
Product sales |  | $ | 162,248 |  |  | $ | 92,608 |
Marketing service fees |  |  | 12,956 |  |  |  | 13,810 |
Net sales |  | $ | 175,204 |  |  | $ | 106,418 |
Product sales primarily consist of the sale of bone growth therapies devices, spinal implants and enabling technologies products, and orthopedics 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. We partner with MTF Biologics to provide certain allograft solutions (HCT/Ps) for various spine, orthopedic and other bone repair needs, with this partnership allowing us to exclusively market certain biologic offerings. Accounts receivable and related allowances The following table provides a detail of changes in the Company’s allowance for expected credit losses for the three months ended March 31, 2023 and 2022:
|  | Three Months Ended March 31, |  |
(Unaudited, U.S. Dollars, in thousands) |  | 2023 |  |  | 2022 |  |
Allowance for expected credit losses beginning balance |  | $ | 6,419 |  |  | $ | 4,944 |  |
Addition resulting from the Merger with SeaSpine |  |  | 137 |  |  |  | - |  |
Current period provision for expected credit losses |  |  | 208 |  |  |  | 600 |  |
Write-offs charged against the allowance and other |  |  | (126 | ) |  |  | (104 | ) |
Effect of changes in foreign exchange rates |  |  | 53 |  |  |  | (51 | ) |
Allowance for expected credit losses ending balance |  | $ | 6,691 |  |  | $ | 5,389 |  |

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

X
- 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration