XML 25 R15.htm IDEA: XBRL DOCUMENT
v3.19.3

Stockholders' Equity | 9 Months Ended
--- | ---
Sep. 30, 2019
Equity [Abstract] |
Stockholders' Equity |
9. | Stockholders’ Equity
Reconciliation of the changes in stockholders' equity for the three and nine months ended September 30, 2019 and 2018 |
|  | Common Stock |  |  | Additional Paid-in |  |  | Accumulated Other Comprehensive |  |  | Accumulated |  |  |  |  |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Loss |  |  | Deficit |  |  | Total |
Balance at December 31, 2018 |  |  | 61,276 |  |  | $ | — |  |  | $ | 401,273 |  |  | $ | (18,706 | ) |  | $ | (99,189 | ) |  | $ | 283,378 |
Common stock issued upon exercise of options |  |  | 4 |  |  |  | — |  |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  | 22 |
Vesting of restricted stock and performance stock units |  |  | 664 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Purchase and retirement of common shares |  |  | (277 | ) |  |  | — |  |  |  | (3,595 | ) |  |  | — |  |  |  | — |  |  |  | (3,595 | )
Compensation cost for restricted stock |  |  | — |  |  |  | — |  |  |  | 653 |  |  |  | — |  |  |  | — |  |  |  | 653 |
Compensation cost for stock option grants |  |  | — |  |  |  | — |  |  |  | 324 |  |  |  | — |  |  |  | — |  |  |  | 324 |
Compensation cost for performance stock units |  |  | — |  |  |  | — |  |  |  | 254 |  |  |  | — |  |  |  | — |  |  |  | 254 |
Net loss |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,258 | ) |  |  | (3,258 | )
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,232 |  |  |  |  |  |  |  | 2,232 |
Unrealized gain on marketable securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 497 |  |  |  | — |  |  |  | 497 |
Balance at March 31, 2019 |  |  | 61,667 |  |  | $ | — |  |  | $ | 398,931 |  |  | $ | (15,977 | ) |  | $ | (102,447 | ) |  | $ | 280,507 |
Common stock issued upon exercise of options |  |  | 18 |  |  |  | — |  |  |  | 147 |  |  |  | — |  |  |  | — |  |  |  | 147 |
Vesting of restricted stock and performance stock units |  |  | 51 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Purchase and retirement of common shares |  |  | (11 | ) |  |  | — |  |  |  | (109 | ) |  |  | — |  |  |  | — |  |  |  | (109 | )
Compensation cost for restricted stock |  |  | — |  |  |  | — |  |  |  | 874 |  |  |  | — |  |  |  | — |  |  |  | 874 |
Compensation cost for stock option grants |  |  | — |  |  |  | — |  |  |  | 311 |  |  |  | — |  |  |  | — |  |  |  | 311 |
Compensation cost for performance stock units |  |  | — |  |  |  | — |  |  |  | (569 | ) |  |  | — |  |  |  | — |  |  |  | (569 | )
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,398 |  |  |  | 4,398 |
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,476 |  |  |  |  |  |  |  | 2,476 |
Unrealized gain on marketable securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 186 |  |  |  | — |  |  |  | 186 |
Balance at June 30, 2019 |  |  | 61,725 |  |  | $ | — |  |  | $ | 399,585 |  |  | $ | (13,315 | ) |  | $ | (98,049 | ) |  | $ | 288,221 |
Common stock issued upon exercise of options |  |  | - |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | - |
Vesting of restricted stock and performance stock units |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Purchase and retirement of common shares |  |  | (1 | ) |  |  | — |  |  |  | (7 | ) |  |  | — |  |  |  | — |  |  |  | (7 | )
Compensation cost for restricted stock |  |  | - |  |  |  | — |  |  |  | 858 |  |  |  | — |  |  |  | — |  |  |  | 858 |
Compensation cost for stock option grants |  |  | - |  |  |  | — |  |  |  | 259 |  |  |  | — |  |  |  | — |  |  |  | 259 |
Compensation cost for performance stock units |  |  | - |  |  |  | — |  |  |  | 319 |  |  |  | — |  |  |  | — |  |  |  | 319 |
Net income |  |  | - |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,078 |  |  |  | 13,078 |
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,557 | ) |  |  |  |  |  |  | (1,557 | )
Unrealized gain on marketable securities |  |  | - |  |  |  | — |  |  |  | — |  |  |  | 194 |  |  |  | — |  |  |  | 194 |
Balance at September 30, 2019 |  |  | 61,726 |  |  | $ | — |  |  | $ | 401,014 |  |  | $ | (14,678 | ) |  | $ | (84,971 | ) |  | $ | 301,365 |
|  | Common Stock |  |  | Additional Paid-in |  |  | Accumulated Other Comprehensive |  |  | Accumulated |  |  |  |  |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Loss |  |  | Deficit |  |  | Total |
Balance at December 31, 2017 |  |  | 60,662 |  |  | $ | — |  |  | $ | 387,931 |  |  | $ | (10,340 | ) |  | $ | (119,510 | ) |  | $ | 258,081 |
Adoption of ASU 2014-9 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (75 | ) |  |  | (75 | )
Common stock issued upon exercise of options |  |  | 133 |  |  |  | — |  |  |  | 974 |  |  |  | — |  |  |  | — |  |  |  | 974 |
Vesting of restricted stock and performance stock units |  |  | 407 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Purchase and retirement of common shares |  |  | (149 | ) |  |  | — |  |  |  | (2,959 | ) |  |  | — |  |  |  | — |  |  |  | (2,959 | )
Compensation cost for restricted stock |  |  | — |  |  |  | — |  |  |  | 3,626 |  |  |  | — |  |  |  | — |  |  |  | 3,626 |
Compensation cost for stock option grants |  |  | — |  |  |  | — |  |  |  | 900 |  |  |  | — |  |  |  | — |  |  |  | 900 |
Compensation cost for performance stock units |  |  | — |  |  |  | — |  |  |  | 2,957 |  |  |  | — |  |  |  | — |  |  |  | 2,957 |
Net loss |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,119 | ) |  |  | (2,119 | )
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,154 | ) |  |  |  |  |  |  | (2,154 | )
Unrealized loss on marketable securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (512 | ) |  |  | — |  |  |  | (512 | )
Balance at March 31, 2018 |  |  | 61,053 |  |  | $ | — |  |  | $ | 393,429 |  |  | $ | (13,006 | ) |  | $ | (121,704 | ) |  | $ | 258,719 |
Common stock issued upon exercise of options |  |  | 29 |  |  |  | — |  |  |  | 222 |  |  |  | — |  |  |  | — |  |  |  | 222 |
Vesting of restricted stock and performance stock units |  |  | 106 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Purchase and retirement of common shares |  |  | (14 | ) |  |  | — |  |  |  | (212 | ) |  |  | — |  |  |  | — |  |  |  | (212 | )
Compensation cost for restricted stock |  |  | — |  |  |  | — |  |  |  | 1,419 |  |  |  | — |  |  |  | — |  |  |  | 1,419 |
Compensation cost for stock option grants |  |  | — |  |  |  | — |  |  |  | 475 |  |  |  | — |  |  |  | — |  |  |  | 475 |
Compensation cost for performance stock units |  |  | — |  |  |  | — |  |  |  | 1,885 |  |  |  | — |  |  |  | — |  |  |  | 1,885 |
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,121 |  |  |  | 4,121 |
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,652 | ) |  |  |  |  |  |  | (1,652 | )
Unrealized gain on marketable securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 194 |  |  |  | — |  |  |  | 194 |
Balance at June 30, 2018 |  |  | 61,174 |  |  | $ | — |  |  | $ | 397,218 |  |  | $ | (14,464 | ) |  | $ | (117,583 | ) |  | $ | 265,171 |
Common stock issued upon exercise of options |  |  | 62 |  |  |  | — |  |  |  | 483 |  |  |  | — |  |  |  | — |  |  |  | 483 |
Vesting of restricted stock and performance stock units |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Purchase and retirement of common shares |  |  | (1 | ) |  |  | — |  |  |  | (9 | ) |  |  | — |  |  |  | — |  |  |  | (9 | )
Compensation cost for restricted stock |  |  | — |  |  |  | — |  |  |  | 589 |  |  |  | — |  |  |  | — |  |  |  | 589 |
Compensation cost for stock option grants |  |  | — |  |  |  | — |  |  |  | 359 |  |  |  | — |  |  |  | — |  |  |  | 359 |
Compensation cost for performance stock units |  |  | — |  |  |  | — |  |  |  | 316 |  |  |  | — |  |  |  | — |  |  |  | 316 |
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8,096 |  |  |  | 8,096 |
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,783 |  |  |  |  |  |  |  | 1,783 |
Unrealized loss on marketable securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (34 | ) |  |  | — |  |  |  | (34 | )
Balance at September 30, 2018 |  |  | 61,237 |  |  | $ | — |  |  | $ | 398,956 |  |  | $ | (12,715 | ) |  | $ | (109,487 | ) |  | $ | 276,754 |
Stock-Based Awards We grant stock-based awards under the OraSure Technologies, Inc. Stock Award Plan, as amended (the “Stock Plan”). The Stock Plan permits stock-based awards to employees, outside directors and consultants or other third-party advisors. Awards which may be granted under the Stock Plan include qualified incentive stock options, nonqualified stock options, stock appreciation rights, restricted awards, performance awards and other stock-based awards. We account for stock-based compensation to employees and directors using the fair value method. We recognize compensation expense for stock option and restricted stock awards issued to employees and directors on a straight-line basis over the requisite service period of the award. We recognize compensation expense related to performance-based restricted stock units based on assumptions as to what percentage of each performance target will be achieved. We evaluate these target assumptions on a quarterly basis and adjust compensation expense related to these awards, as appropriate. To satisfy the exercise of options, issuance of restricted stock, or redemption of performance-based restricted stock units, we issue new shares rather than shares purchased on the open market. Total compensation cost related to stock options for the nine months ended September 30, 2019 and 2018 was $894 and $1,734 respectively. Compensation cost of $2,385 and $5,634 related to restricted shares was recognized during the nine months ended September 30, 2019 and 2018, respectively. In connection with the vesting of restricted shares during the nine months ended September 30, 2019 and 2018, we purchased and immediately retired 289 and 164 shares with aggregate values of $3,711 and $3,181, respectively, in satisfaction of minimum tax withholding obligations. We grant performance-based restricted stock units (“PSUs”) to certain executives. Vesting of these PSUs is dependent upon achievement of performance-based metrics during a one-year or three-year period from the date of grant. Assuming achievement of each performance-based metric, the executive must also generally remain in our service for three years from the grant date. Performance during the one-year period is based on a one-year earnings per share or income before income taxes target. If the one-year target is achieved, the PSUs will then vest three years from grant date. Performance during the three-year period will be based on achievement of a three-year compound annual growth rate for consolidated product revenues. If the three-year target is achieved, the corresponding PSUs will then vest three years from grant date. PSUs are converted into shares of our common stock once vested. Compensation cost of $4 and $5,158 related to PSUs was recognized during the nine months ended September 30, 2019 and 2018, respectively. Modification of Grants Stock compensation costs for the nine months ended September 30, 2018 include the additional expense associated with modifications of existing grants held by our retired President and Chief Executive Officer (“CEO”) and our Chief Financial Officer (“CFO”). These additional costs were $8,039 during the nine months ended September 30, 2018, and are included in general and administrative expenses in the accompanying consolidated statement of income. Stock Repurchase Program On August 5, 2008, our Board of Directors approved a share repurchase program pursuant to which we are permitted to acquire up to $25,000 of our outstanding common shares. No shares were purchased and retired during the nine months ended September 30, 2019 and 2018.

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

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration