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Revenue recognition and accounts receivable (Tables) | 9 Months Ended
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Sep. 30, 2024
Revenue Recognition And Accounts Receivable [Abstract] |
Schedule of Net Sales by Product Category by Reporting Segment | The table below presents net sales by product category by reporting segment:
|  | Three Months Ended September 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |  |  | Change |
Bone Growth Therapies |  | $ | 57,925 |  |  | $ | 53,359 |  |  |  | 8.6 | %
Spinal Implants, Biologics, and Enabling Technologies |  |  | 108,179 |  |  |  | 100,993 |  |  |  | 7.1 | %
Global Spine |  |  | 166,104 |  |  |  | 154,352 |  |  |  | 7.6 | %
Global Orthopedics |  |  | 30,502 |  |  |  | 29,654 |  |  |  | 2.9 | %
Net sales |  | $ | 196,606 |  |  | $ | 184,006 |  |  |  | 6.8 | %
|  | Nine Months Ended September 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |  |  | Change |
Bone Growth Therapies |  | $ | 169,537 |  |  | $ | 153,735 |  |  |  | 10.3 | %
Spinal Implants, Biologics, and Enabling Technologies |  |  | 325,894 |  |  |  | 307,799 |  |  |  | 5.9 | %
Global Spine |  |  | 495,431 |  |  |  | 461,534 |  |  |  | 7.3 | %
Global Orthopedics |  |  | 88,403 |  |  |  | 84,692 |  |  |  | 4.4 | %
Net sales |  | $ | 583,834 |  |  | $ | 546,226 |  |  |  | 6.9 | %
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 September 30, |  |  | Nine Months Ended September 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Product sales |  | $ | 184,040 |  |  | $ | 170,666 |  |  | $ | 545,288 |  |  | $ | 506,992 |
Marketing service fees |  |  | 12,566 |  |  |  | 13,340 |  |  |  | 38,546 |  |  |  | 39,234 |
Net sales |  | $ | 196,606 |  |  | $ | 184,006 |  |  | $ | 583,834 |  |  | $ | 546,226 |
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 nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Allowance for expected credit losses beginning balance |  | $ | 8,368 |  |  | $ | 7,015 |  |  | $ | 7,130 |  |  | $ | 6,419 |
Addition resulting from the Merger with SeaSpine |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 137 |
Current period provision for expected credit losses |  |  | 486 |  |  |  | 415 |  |  |  | 2,059 |  |  |  | 905 |
Write-offs charged against the allowance and other |  |  | (1,118 | ) |  |  | (214 | ) |  |  | (1,321 | ) |  |  | (334 | )
Effect of changes in foreign exchange rates |  |  | 142 |  |  |  | (126 | ) |  |  | 10 |  |  |  | (37 | )
Allowance for expected credit losses ending balance |  | $ | 7,878 |  |  | $ | 7,090 |  |  | $ | 7,878 |  |  | $ | 7,090 |

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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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- 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
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