XML 49 R36.htm IDEA: XBRL DOCUMENT
v3.23.1

Discontinued operations (Tables) | 3 Months Ended
--- | ---
Apr. 01, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Balance Sheet and Statement of Operation | The carrying amounts of the major classes of assets and liabilities of the Wound Business that were classified as held for sale were as follows:
| April 1, 2023
Carrying amounts of assets classified as held for sale |
Accounts receivable, net of allowance of $898 | $ | 4,114 |
Inventory | 1,481 |
Property and equipment, net | 443 |
Intangible assets | 31,835 |
Total assets held for sale | $ | 37,873 |
Carrying amounts of liabilities classified as held for sale |
Accounts payable | $ | 1,285 |
Accrued liabilities | 588 |
Total liabilities held for sale | $ | 1,873 |
The following table summarizes CartiHeal’s major classes of assets and liabilities as reported on the consolidated condensed balance sheets as of December 31, 2022 as the balances were fully deconsolidated as of April 1, 2023:
| December 31, 2022
Carrying amounts of major classes of assets included as part of discontinued operations |
Cash | $ | 1,628 |
Restricted cash | 23 |
Other receivables | 350 |
Inventory | 642 |
Prepaid and other current assets | 134 |
Property and equipment, net | 191 |
Goodwill | 6,297 |
Intangible assets, net | 398,873 |
Operating lease assets | 618 |
Other assets | 15 |
Total assets | $ | 408,771 |
Carrying amounts of major liabilities included as part of discontinued operations |
Accounts payable | $ | 852 |
Accrued liabilities | 384 |
Current portion of deferred consideration | 117,615 |
Other current liabilities | 236 |
Deferred income taxes | 79,863 |
Deferred consideration | 79,269 |
Contingent consideration | 67,251 |
Other long-term liabilities | 2,528 |
Total liabilities | $ | 347,998 |
The following table summarizes the major income and expense line items of these discontinued operations, as reported in the consolidated statements of operations for the three months ended April 1, 2023 and April 2, 2022:
|  |  | Three Months Ended
|  |  |  |  | April 1, 2023 |  | April 2, 2022
Selling, general and administrative expense |  |  |  |  | $ | 1,728 |  |  | $ | — |
Research and development expense |  |  |  |  | 396 |  |  | — |
Change in fair value of contingent consideration(a) |  |  |  |  | 1,710 |  |  | — |
Depreciation and amortization(a) |  |  |  |  | 4,264 |  |  | — |
Operating loss from discontinued operations |  |  |  |  | (8,098) |  |  | — |
Interest expense (income), net |  |  |  |  | 4,889 |  |  | — |
Other expense(b) |  |  |  |  | 61,442 |  |  | 401 |
Other expense |  |  |  |  | 66,331 |  |  | 401 |
Net loss |  |  |  |  | (74,429) |  |  | (401) |
Loss attributable to noncontrolling interest |  |  |  |  | 14,937 |  |  | — |
Net loss attributable to Bioventus Inc. |  |  |  |  | $ | (59,492) |  |  | $ | (401) |
(a)Depreciation and amortization and the change in fair value of contingent consideration represents the significant operating non-cash items of discontinued operations. (b)Other expense includes the $60,639 loss on deconsolidation, of which $10,150 was attributable to non-refundable payments.

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI https://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration