XML 16 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Cash flows used in operating activities:      
Net Loss of ZimVie Inc. $ (7,761) $ (29,968)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 8,430 32,631  
Share-based compensation 3,473 4,841  
Deferred income tax provision (233) (4,208)  
Loss on disposal of fixed assets 413 0  
Other non-cash items 1,596 1,556  
Adjustment of spine disposal group to fair value (Note 2) (11,143) [1] 0 [1] $ 289,500
Changes in operating assets and liabilities      
Income taxes 6,586 7,047  
Accounts receivable (6,651) (4,958)  
Related party receivable 0 8,483  
Inventories 4,588 5,431  
Prepaid expenses and other current assets 323 1,311  
Accounts payable and accrued liabilities (10,264) (11,572)  
Related party payable 0 (13,176)  
Other assets and liabilities (868) (4,614)  
Net cash used in operating activities (11,511) (7,196)  
Cash flows used in investing activities:      
Additions to instruments (1,316) (1,951)  
Additions to other property, plant and equipment (835) (1,887)  
Other investing activities (1,987) (1,994)  
Net cash used in investing activities (4,138) (5,832)  
Cash flows used in financing activities:      
Payments on debt 0 (10,519)  
Payments related to tax withholding for share-based compensation (1,437) (417)  
Net cash used in financing activities (1,437) (10,936)  
Effect of exchange rates on cash and cash equivalents (2,098) 777  
Decrease in cash and cash equivalents (19,184) (23,187)  
Cash and cash equivalents, beginning of year 87,768 89,601 89,601
Cash and cash equivalents, end of period 68,584 66,414 $ 87,768
Supplemental cash flow information:      
Income taxes (refunded) paid, net (2,366) 1,664  
Interest paid $ 9,360 $ 8,121  
[1] We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets resulting in a write-down of $289.5 million. We updated our analysis as of March 31, 2024, which resulted in a reduction of the December 2023 write-down of $11.1 million.