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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of product concentration risk
The following table sets forth revenues for each of the Company’s products representing 10% or more of revenues:
 
Year Ended
December 31,
 
2019
 
2018
 
2017
DEFINITY
62.6%
 
53.3%
 
47.5%
TechneLite
24.9%
 
28.8%
 
31.6%
Schedule of estimated useful lives of major classes of depreciable assets
The estimated useful lives of the major classes of depreciable assets are as follows:
Class
 
Range of Estimated Useful Lives
Buildings
 
10 - 50 years
Land improvements
 
15 - 40 years
Machinery and equipment
 
3 - 15 years
Furniture and fixtures
 
15 years
Leasehold improvements
 
Lesser of lease term or 15 years
Computer software
 
3 - 5 years
Property, plant and equipment, net, consisted of the following:
 
December 31,
(in thousands)
2019
 
2018
Land
$
13,450

 
$
13,450

Buildings
75,654

 
64,444

Machinery, equipment and fixtures
87,763

 
69,298

Computer software
20,739

 
19,266

Construction in progress
10,546

 
24,169

 
208,152

 
190,627

Less: accumulated depreciation and amortization
(91,655
)
 
(82,739
)
Total property, plant and equipment, net
$
116,497

 
$
107,888

Schedule of other expense (income)
Other expense (income) consisted of the following:
 
Year Ended
December 31,
(in thousands)
2019
 
2018
 
2017
Foreign currency (gains) losses
$
(33
)
 
$
557

 
$
(253
)
Tax indemnification expense (income), net
10,635

 
(2,855
)
 
(8,367
)
Interest income
(686
)
 
(167
)
 
(18
)
Arbitration award
(3,453
)
 

 

Other income
(242
)
 

 

Total other expense (income)
$
6,221

 
$
(2,465
)
 
$
(8,638
)
Schedule of recent account pronouncements
Standard
Description
Effective Date
for Company
Effect on the
Consolidated Financial
Statements
Recently Issued Accounting Standards Not Yet Adopted
ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326)”

This ASU will require financial instruments measured at amortized cost and accounts receivable to be presented at the net amount expected to be collected. The new model requires an entity to estimate credit losses based on historical information, current information and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU 2016-13 is effective for annual reporting periods beginning after December 15, 2019.


January 1, 2020
The Company has completed its assessment on the impact of the standard and concluded that upon adoption of this
standard there will not be a material
impact to its consolidated financial statements.


Standard
Description
Effective Date
for Company
Effect on the
Consolidated Financial
Statements
Accounting Standards Adopted During the Year Ended December 31, 2019
ASU 2016-02, “Leases (Topic 842)”

This ASU supersedes existing guidance on accounting for leases in “Leases (Topic 840)” and generally requires all leases to be recognized on the balance sheet. In July 2018, an amendment was made that allows companies the option of using the effective date of the new standard as the initial application date (at the beginning of the period in which it is adopted, rather than at the beginning of the earliest comparative period).

January 1, 2019
See Note 13, "Leases" for the required disclosures related to the impact of adopting this standard.

The adoption of this standard resulted in the recording of an additional lease asset and lease liability of approximately $1.1 million as of January 1, 2019.