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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
OPERATING ACTIVITIES:              
Net income $ 44,788 $ 32,901 $ 35,068 $ 45,394 $ 77,689 $ 80,462  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization         59,336 58,968  
Non-cash impairment charges         0 2,754  
Deferred income tax provision (benefit)         7,542 (4,907)  
Share-based compensation         13,027 22,033  
Amortization of debt issuance costs and expenses associated with debt refinancing         3,392 3,569  
Non-cash lease expense         1,393 2,528  
Loss on disposal of property and equipment         732 86  
Gain from the sale of business 0   679   0 (42,197)  
Change in fair value of contingent consideration and others         (5,799) (385)  
Changes in assets and liabilities:              
Accounts receivable         (9,632) 10,802  
Inventories         (17,576) 2,893  
Prepaid expenses and other current assets         (4,120) (8,061)  
Other non-current assets         6,738 4,067  
Accounts payable, accrued expenses and other current liabilities         (14,556) 27,277  
Contract liabilities         774 0  
Other non-current liabilities         (8,118) 482  
Net cash provided by operating activities         110,822 160,371  
INVESTING ACTIVITIES:              
Purchases of property and equipment         (18,732) (13,309)  
Proceeds from sale of Extremity Orthopedics business         0 191,736  
Acquired in-process research and development milestone         (4,742) 0  
Net proceeds from swaps designated as net investment hedges         4,909 0  
Cash paid for business acquisitions, net of cash acquired         0 (303,910)  
Net cash used in investing activities         (18,565) (125,483)  
FINANCING ACTIVITIES:              
Proceeds from borrowings of long-term indebtedness         23,000 2,200  
Payments on debt         (23,000) (102,200)  
Payment of debt issuance costs         0 (249)  
Purchases of treasury stock         (125,000) 0  
Proceeds from exercised stock options         1,592 3,603  
Cash taxes paid in net equity settlement         (23,204) (3,844)  
Net cash used in financing activities         (146,612) (100,490)  
Effect of exchange rate changes on cash and cash equivalents         (11,941) (7,150)  
Net decrease in cash and cash equivalents         (66,296) (72,752)  
Cash and cash equivalents at beginning of period   $ 513,448   $ 470,166 513,448 470,166 $ 470,166
Cash and cash equivalents at end of period $ 447,152   $ 397,414   $ 447,152 $ 397,414 $ 513,448