Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions Used in Determining Fair Value of Stock Options

The fair value of time-based stock options is determined using the Black-Scholes valuation model, with such value recognized as expense over the service period, which is typically three to four years, net of actual forfeitures. A summary of the Company’s assumptions used in determining the fair value of the stock options granted during each of the years ended December 31, 2023, 2022, and 2021, is shown in the following table. The Company did not grant any time-based stock options in 2022.


	Year Ended December 31,
	2023		2022		2021
Assumptions:
Expected term (in years)		6.0		—	6.0
Expected volatility	36.8% – 42.3%			—	34.4% – 34.8%
Risk free interest rate	3.38% – 4.61%			—	0.83% – 1.25%
Dividend yield		—		—		—
Weighted average grant date fair value	$	8.43	$	—	$	12.33

Schedule of Changes in Time-Based and Market-Based Restricted Stock Awards and Stock Units

A summary of the status of our time-based and performance-based and/or market-based restricted stock units as of December 31, 2023, and 2022, and changes during the year ended December 31, 2023, are presented below:


	Time-based Restricted Stock Awards and Stock Units					Performance-based and/or Market-based Restricted Stock Units
(In thousands)	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022		847		$	34.18		516		$	40.29
Assumed SeaSpine awards		490		$	22.76		—		$	—
Conversion of performance-based and market-based stock units to time-based stock units		516		$	40.29		(516	)	$	40.29
Granted		1,496		$	18.51		13		$	20.10
Vested and settled		(749	)	$	29.04		(4	)	$	22.76
Cancelled		(560	)	$	21.12		—		$	—
Outstanding at December 31, 2023		2,040		$	26.96		9		$	22.69