ACQUISITIONS, DIVESTITURE AND PRO FORMA RESULTS (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following summarizes the preliminary allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed:

	Preliminary Purchase Price Allocation		Weighted Average Life
	(Dollars in thousands)
Inventory	77,921
Assets held for sale	30,813
Other current assets	2,036
Property, plant and equipment	35,949
Intangible assets:
Codman corporate trade name	162,900		Indefinite
Completed technology	379,900		22 years
Goodwill	346,219
Total assets acquired	1,035,738
Accrued expenses	1,730
Pension liabilities	19,917
Net assets acquired	$	1,014,091

The following summarizes the allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed:

	Purchase Price Allocation		Weighted Average Life
	(Dollars in thousands)
Inventory	$	1,143
Property, plant and equipment	669
Other current assets	11
Intangible assets:
Supplier Contracts	4,981		2 - 13 Years
Goodwill	9,665
Total assets acquired	16,469
Accrued expenses and other liabilities acquired	802
Deferred tax liability	1,564
Net assets acquired	$	14,103

The following summarizes the allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed:

	Purchase Price Allocation		Weighted Average Life
	(Dollars in thousands)
Cash	$	1,241
Accounts receivable, net	9,011
Inventory	23,223
Property, plant, and equipment	2,027
Income tax receivable	5,135
Other current assets	2,670
Intangible assets:
Developed technology	167,400		14 - 16 Years
Contractual relationships	51,345		11 - 14 Years
Leasehold interest	69
Goodwill	147,704
Total assets acquired	409,825
Accrued expenses and other liabilities	9,732
Deferred tax liabilities	87,908
Net assets acquired	$	312,185

The following summarizes the allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed:

	Purchase Price Allocation		Weighted Average Life
	(Dollars in thousands)
Cash and cash equivalents	$	16,512
Short-term investments	19,238
Accounts receivable	8,949
Inventory	17,977
Prepaid expenses and other current assets	4,369
Property, plant and equipment	4,311
Intangible assets:
Customer relationship	78,300		14 years
Trademarks/brand names	13,500		15 years
Completed technology	11,600		14 years
Non-compete agreement	280		1 year
Goodwill	73,765
Deferred tax assets	14,524
Other assets	101
Total assets acquired	263,426
Accounts payable	4,560
Accrued expenses and other current liabilities	7,409
Contingent liability	37,174
Other liabilities	3,805
Net assets acquired	$	210,478

The following summarizes the allocation of the purchase price as based on the fair value of the assets acquired and liabilities assumed:

	Purchase Price Allocation		Weighted Average Life
	(Dollars in thousands)
Inventory	$	2,688
Property, plant, and equipment	1,453
Intangible assets:
Ankle product family	3,210		11 years
Toe product family	460		10 years
Total assets acquired	7,811
Deferred tax liability	700
Net assets acquired	$	7,111

The following summarizes the allocation of the purchase price based on the fair value of the assets acquired and liabilities assumed:

	Purchase Price Allocation		Weighted Average Life
	(Dollars in thousands)
Cash and cash equivalents	$	49
Accounts receivables	279
Property, plant and equipment	3
Intangible assets:
Completed technology	4,707		13 Years
Goodwill	641
Total assets acquired	5,679
Accounts payable	13
Accrued expenses and other current liabilities	65
Other liabilities	234
Net assets acquired	$	5,367

Pro Forma Financial Information, Summary of Results of Operations

	Year Ended December 31,
	2017		2016		2015
	(Pro forma)
	(In thousands except per share amounts)
Total revenue from continuing operations	$	1,428,491	$	1,446,903	$	940,005
Net income from continuing operations	$	81,730	$	27,520	$	10,694
Basic earnings per share from continuing operations	$	1.06	$	0.37	$	0.31

Schedule of Assets and Liabilities Divested

The following table summarizes results from discontinued operations of SeaSpine included in the consolidated statement of operations for the year ended December 31, 2015 (in thousands):

Total revenue	$	65,775
Costs and expenses	80,618
Operating loss	(14,843		)
Other expense, net	(766		)
Loss from discontinued operations before tax	(15,609		)
Benefit for income taxes	(5,239		)
Loss from discontinued operations	$	(10,370	)

The following table presents Integra's spine business assets and liabilities removed from the consolidated balance sheet as of July 1, 2015:

Assets:
Cash	$	47,178
Accounts receivable	20,856
Inventory	49,425
Other current assets	13,411
Current assets of discontinued operations	130,870
Property, plant, and equipment, net	21,093
Intangible assets, net	43,122
Other assets	4,465
Non-current assets of discontinued operations	68,680
Total assets of discontinued operations	$	199,550
Liabilities:
Accounts payable	$	7,072
Accrued compensation	5,964
Accrued expenses and other current liabilities	3,361
Current liabilities of discontinued operations	16,397
Deferred tax liabilities	13,331
Other liabilities	2,593
Long-term liabilities of discontinued operations	15,924
Total liabilities of discontinued operations	$	32,321

Assets and liabilities divested consisted of the following as of October 6, 2017 (amounts in thousands):

Inventories	$	8,348
Prepaid expenses and other current assets	36
Assets held for sale	30,813
Property, plant and equipment, net	1,122
Goodwill	2,861
Total assets divested	$	43,180
Deferred revenue	$	1,082
Accrued compensation	209
Total liabilities divested	$	1,291