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Merger and Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Combinations [Abstract] |
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the fair value of assets acquired and liabilities assumed at the acquisition date:
(U.S. Dollars, in thousands) |  | Final Acquisition Date Fair Value |  |  | Assigned Useful Life
Assets acquired: |  |  |  |  |
Current assets |  |  |  |  |
Cash and cash equivalents |  | $ | 29,419 |  |  |
Accounts receivable, net |  |  | 35,313 |  |  |
Inventories |  |  | 132,636 |  |  |
Prepaid expenses and other current assets |  |  | 4,590 |  |  |
Total current assets |  |  | 201,958 |  |  |
Property, plant, and equipment, net |  |  | 68,863 |  |  |
Customer relationships |  |  | 33,100 |  |  | 13 years
Developed technology |  |  | 47,200 |  |  | 6 - 8 years
In-process research and development ("IPR&D") |  |  | 5,750 |  |  | Indefinite
Other long-term assets |  |  | 20,501 |  |  |
Total identifiable assets acquired |  | $ | 377,372 |  |  |
Liabilities assumed: |  |  |  |  |
Current liabilities |  |  |  |  |
Accounts payable |  | $ | 21,602 |  |  |
Other current liabilities |  |  | 43,521 |  |  |
Total current liabilities |  |  | 65,123 |  |  |
Long-term borrowings under SeaSpine credit facility |  |  | 26,298 |  |  |
Other long-term liabilities |  |  | 32,823 |  |  |
Total liabilities assumed |  |  | 124,244 |  |  |
Net identifiable assets acquired |  | $ | 253,128 |  |  |
Total fair value of consideration transferred |  |  | 376,745 |  |  |
Residual goodwill |  | $ | 123,617 |  |  |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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