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ACQUISITIONS AND PRO FORMA RESULTS (Tables)
12 Months Ended
Dec. 31, 2012
Business Acquisition [Line Items]  
Pro Forma Financial Information, Summary Of Results Of Operations
As a result, these pro forma results do not necessarily represent results that would have occurred if the acquisitions had taken place on the basis assumed above, nor are they indicative of the results of future combined operations.
 
 
Year Ended
 
December 31,
2011
 
(In thousands except per share amounts)
Total Revenue
$
811,933

Net income
$
23,236

Net income per share:
 
Basic
$
0.80

Diluted
$
0.79

Ascension Orthopedics, Inc.
 
Business Acquisition [Line Items]  
Final Purchase Price of Net Assets Acquired
The following summarizes the final allocation of the purchase price based on fair value of the assets acquired and liabilities assumed:
 
 
Final
Purchase Price
Allocation
 
 
 
(Dollars in thousands)
 
 
Cash
$
627

 
 
Inventory
12,760

 
 
Accounts receivable
2,917

 
 
Other current assets
2,398

 
 
Property, plant and equipment
4,649

 
 
Other long-term assets
70

 
 
Deferred tax asset — long term
12,543

 
 
Intangible assets:
 
 
Wtd. Avg. Life:
Technology
7,885

 
10 years
Customer relationships
5,750

 
12 years
In-process research and development
1,739

 
Indefinite
Supplier relationship
4,510

 
10 years
Trade name
560

 
1 year
Goodwill
15,460

 
 
Total assets acquired
71,868

 
 
Accounts payable and other liabilities
5,827

 
 
Net assets acquired
$
66,041

 
 
SeaSpine, Inc.
 
Business Acquisition [Line Items]  
Final Purchase Price of Net Assets Acquired
The following summarizes the final allocation of the purchase price based on fair value of the assets acquired and liabilities assumed:
 
 
Final
Purchase Price
Allocation
 
 
 
(Dollars in thousands)
 
 
Cash
$
201

 
 
Inventory
14,900

 
 
Accounts receivable
7,608

 
 
Other current assets
623

 
 
Property, plant and equipment
9,177

 
 
Deferred tax asset—long term
302

 
 
Intangible assets:
 
 
Wtd. Avg. Life:
Technology
3,000

 
8 years
Customer relationships
41,200

 
13 years
Non-compete agreements
1,900

 
4 years
Trade name
300

 
1 year
Goodwill
14,572

 
 
Total assets acquired
93,783

 
 
Accounts payable and other liabilities
5,108

 
 
Net assets acquired
$
88,675

 
 
Culley
 
Business Acquisition [Line Items]  
Final Purchase Price of Net Assets Acquired
In September 2010, the Company acquired certain assets as well as the distribution rights for its extremity reconstruction product lines in Australia from Culley Investments Pty. Ltd. (“Culley”) for approximately $1.6 million (1.7 million Australian dollars) in cash. The Company had determined that this acquisition met the definition of a business under the authoritative guidance. For eight years, Culley had been the Company's distributor of these products in Australia. The acquisition provides the Company with the ability to sell orthopedic products directly to its Australian customers.
 
 
Final Purchase Price
Allocation
 
 
 
(Dollars in thousands)
 
 
Inventory
$
878

 
 
Property, plant and equipment
319

 
Wtd. Avg. Life: 
Intangible assets - Customer relationships
373

 
12 years
Total net assets acquired
$
1,570

 
 
Welch Allyn
 
Business Acquisition [Line Items]  
Final Purchase Price of Net Assets Acquired
In May 2010, the Company acquired certain assets and liabilities of the surgical headlight business of Welch Allyn, Inc. (“Welch”) for approximately $2.4 million in cash and $0.2 million of working capital adjustments. The Company determined that this acquisition met the definition of a business under the authoritative guidance. The Company believes that the assets acquired will further its goal of expanding its reach into the surgical headlight market. The goodwill recorded in connection with this acquisition was based on the benefits the Company expects to generate from Welch's future cash flows and is not deductible for tax purposes.
 
 
Final Purchase Price
Allocation
 
 
 
(Dollars in thousands)
 
 
Accounts receivable
$
518

  
 
Inventory
138

  
 
Property, plant and equipment
280

  
 
Intangible assets
 
 
Wtd. Avg. Life:
Customer relationships
490

  
15 years
Technology
263

  
6 years
In-Process research and development
312

  
Indefinite
Goodwill
601

  
 
Total net assets acquired
$
2,602