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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
OPERATING ACTIVITIES:      
Net income $ 32,901 $ 45,394  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 29,724 29,214  
Non-cash impairment charges 0 2,754  
Deferred income tax provision (benefit) 3,544 (1,234)  
Share-based compensation 6,291 6,334  
Amortization of debt issuance costs and expenses associated with debt refinancing 1,724 1,721  
Non-cash lease expense (17) 1,522  
Loss on disposal of property and equipment 712 (2)  
Gain from the sale of business 0 (42,876)  
Change in fair value of contingent consideration and others (765) 281  
Changes in assets and liabilities:      
Accounts receivable (3,116) 16,756  
Inventories (11,561) (2,332)  
Prepaid expenses and other current assets (5,046) (3,574)  
Other non-current assets 2,283 10,419  
Accounts payable, accrued expenses and other current liabilities (9,754) 14,449  
Contract liabilities 0 (83)  
Other non-current liabilities (2,576) (9,662)  
Net cash provided by operating activities 44,344 69,081  
INVESTING ACTIVITIES:      
Purchases of property and equipment (9,325) (6,675)  
Proceeds from sale of Extremity Orthopedics business 0 191,736  
Acquired in-process research and development milestone (4,742) 0  
Cash paid for business acquisitions, net of cash acquired 0 (302,627)  
Net cash used in investing activities (14,067) (117,566)  
FINANCING ACTIVITIES:      
Proceeds from borrowings of long-term indebtedness 11,250 600  
Payments on debt (11,750) (2,200)  
Purchases of treasury stock (125,000) 0  
Proceeds from exercised stock options 1,239 2,222  
Cash taxes paid in net equity settlement (9,204) (3,637)  
Net cash used in financing activities (133,465) (3,015)  
Effect of exchange rate changes on cash and cash equivalents (3,168) (9,690)  
Net decrease in cash and cash equivalents (106,356) (61,190)  
Cash and cash equivalents at beginning of period 513,448 470,166 $ 470,166
Cash and cash equivalents at end of period $ 407,092 $ 408,976 $ 513,448