0000917520-21-000018 | 10-K | XBRL Viewer | Integra Lifesciences Holdings Corp

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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-26224
Entity Registrant Name	INTEGRA LIFESCIENCES HOLDINGS CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0317849
Entity Address, Address Line One	1100 Campus Road
Entity Address, Postal Zip Code	08540
Entity Address, City or Town	Princeton
Entity Address, State or Province	NJ
City Area Code	609
Local Phone Number	275-0500
Title of 12(b) Security	Common Stock, Par Value $.01 Per Share
Trading Symbol	IART
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Shell Company	false
Entity Public Float			$ 3,370.2
Entity Common Stock, Shares Outstanding (in shares)		84,369,946
Documents Incorporated by Reference	Certain portions of the registrant’s definitive proxy statement relating to its scheduled May 14, 2021 Annual Meeting of Stockholders are incorporated by reference in Part III of this report.
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0000917520

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Total revenue, net	$ 1,371,868	$ 1,517,557	$ 1,472,441
Costs and expenses:
Cost of goods sold	520,834	564,681	571,496
Research and development	77,381	79,573	78,041
In-process research and development	0	64,916	0
Selling, general and administrative	594,526	687,599	690,746
Intangible asset amortization	27,757	27,028	21,160
Total costs and expenses	1,220,498	1,423,797	1,361,443
Operating income	151,370	93,760	110,998
Interest income	9,297	10,779	2,800
Interest expense	(71,581)	(53,957)	(64,683)
Other income, net	4,434	9,522	8,288
Income before income taxes	93,520	60,104	57,403
Provision (benefit) for income taxes	(40,372)	9,903	(3,398)
Net income	$ 133,892	$ 50,201	$ 60,801
Net income per share
Basic (in dollars per share)	$ 1.58	$ 0.59	$ 0.73
Diluted (in dollars per share)	$ 1.57	$ 0.58	$ 0.72
Weighted average common shares outstanding (See Note 14):
Basic (in shares)	84,650	85,637	82,857
Diluted (in shares)	85,228	86,494	83,999

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 133,892	$ 50,201	$ 60,801
Other comprehensive income (loss), before tax:
Change in foreign currency translation adjustments	53,363	(174)	(19,159)
Unrealized gain (loss) on derivatives
Unrealized derivative gain (loss) arising during period	(96,837)	(13,671)	11,709
Less: Reclassification adjustments for gain (loss) included in net income	(24,442)	14,865	13,400
Unrealized loss on derivatives	(72,395)	(28,536)	(1,691)
Defined benefit pension plan - net gain (loss) arising during period	4,604	(8,973)	(643)
Total other comprehensive loss, before tax	(14,428)	(37,683)	(21,493)
Income tax benefit (expense) related to items in other comprehensive loss	16,771	6,724	(143)
Total other comprehensive loss, net of tax	2,343	(30,959)	(21,636)
Comprehensive income, net of tax	$ 136,235	$ 19,242	$ 39,165

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 470,166	$ 198,911
Trade accounts receivable, net of allowances of $6,439 and $4,303	225,532	275,296
Inventories, net	310,117	316,054
Assets held for sale	162,105	0
Prepaid expenses and other current assets	69,282	67,907
Total current assets	1,237,202	858,168
Property, plant and equipment, net	287,529	337,404
Right of use asset - operating leases	83,635	94,530
Intangible assets, net	989,436	1,031,591
Goodwill	932,367	954,280
Deferred tax assets, net	73,690	12,623
Other assets	11,277	14,644
Total assets	3,615,136	3,303,240
Current Liabilities:
Current portion of borrowings under senior credit facility	33,750	45,000
Current portion of borrowings under securitization facility	112,500	0
Current portion of lease liability - operating leases	12,818	12,253
Accounts payable, trade	54,608	113,090
Contract liabilities	5,275	4,772
Accrued compensation	76,117	79,385
Liabilities held for sale	11,751	0
Accrued expenses and other current liabilities	94,194	76,809
Total current liabilities	401,013	331,309
Long-term borrowings under senior credit facility	933,387	1,198,561
Long-term borrowings under securitization facility	0	104,500
Long-term convertible securities	474,834	0
Lease liability - operating leases	88,118	97,504
Deferred tax liabilities	16,190	36,553
Other liabilities	186,727	118,077
Total liabilities	2,100,269	1,886,504
Stockholders’ Equity:
Preferred Stock; no par value; 15,000 authorized shares; none outstanding	0	0
Common stock; $0.01 par value; 240,000 authorized shares; 89,251 and 88,735 issued at December 31, 2020 and 2019, respectively	893	887
Additional paid-in capital	1,290,909	1,213,620
Treasury stock, at cost; 4,914 and 2,865 shares at December 31, 2020 and 2019, respectively	(235,141)	(119,943)
Accumulated other comprehensive loss	(74,059)	(76,402)
Retained earnings	532,265	398,574
Total stockholders’ equity	1,514,867	1,416,736
Total liabilities and stockholders’ equity	$ 3,615,136	$ 3,303,240

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances	$ 6,439	$ 4,303
Preferred Stock, par value (in dollars per share)	$ 0	$ 0
Preferred Stock, authorized shares (in shares)	15,000,000	15,000,000
Preferred Stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares (in shares)	240,000,000	240,000,000
Common stock, issued (in shares)	89,251,000	88,735,000
Treasury stock, at cost; shares (in shares)	4,914,000	2,865,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OPERATING ACTIVITIES:
Net income	$ 133,892	$ 50,201	$ 60,801
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	116,031	109,462	110,730
Non-cash in-process research and development expense	519	64,916	0
Non-cash impairment charges	0	5,764	4,941
Income tax expense (benefit)	(64,138)	(19,046)	(8,184)
Share-based compensation	19,590	21,255	20,779
Amortization of debt issuance costs and expenses associated with debt refinancing	12,076	5,390	6,270
Non-cash lease expense	2,955	5,060	0
Accretion of bond issuance discount	15,415	0	0
Loss on disposal of property and equipment and construction in-progress	7,855	1,821	1,385
Change in fair value of contingent consideration and others	951	1,119	1,214
Changes in assets and liabilities:
Accounts receivable	52,105	(9,428)	(17,021)
Inventories	(48,348)	(43,308)	8,300
Prepaid expenses and other current assets	1,632	13,071	3,933
Other non-current assets	13,735	13,156	1,052
Accounts payable, accrued expenses and other current liabilities	(57,512)	14,666	3,588
Contract liabilities	(37)	(607)	1,504
Other non-current liabilities	(2,889)	(2,059)	391
Net cash provided by operating activities	203,832	231,433	199,683
INVESTING ACTIVITIES:
Purchases of property and equipment	(38,890)	(69,537)	(77,741)
Acquired in-process research and development and intangibles	(25,000)	(64,995)	0
Proceeds from note receivable	0	752	910
Cash used in business acquisitions, net of cash acquired	0	(30,509)	26,704
Proceeds from sales of property and equipment	3,657	37	422
Net proceeds(payments) on swaps designated as net investment hedges	(7,840)	1,584	0
Net cash used in investing activities	(68,073)	(162,668)	(49,705)
FINANCING ACTIVITIES:
Proceeds from borrowings of long-term indebtedness	171,500	236,900	171,200
Payments on debt	(441,000)	(246,100)	(660,000)
Purchase of option hedge on convertible notes	(104,248)	0	0
Proceeds from convertible notes issuance	575,000	0	0
Proceeds from sale of stock purchase warrants	44,563	0	0
Payment of debt issuance costs	(24,347)	0	(5,037)
Purchase of treasury stock	(100,000)	0	0
Proceeds from exercised stock options	5,232	6,948	9,392
Net cash paid for contingent consideration	0	0	(38,196)
Proceeds from the issuance of common stock, net of issuance costs	0	0	349,590
Cash taxes paid in net equity settlement	(5,075)	(6,514)	(7,821)
Net cash provided by (used in) financing activities	121,625	(8,766)	(180,872)
Effect of exchange rate changes on cash and cash equivalents	13,871	74	(5,203)
Net increase (decrease) in cash and cash equivalents	271,255	60,073	(36,097)
Cash and cash equivalents at beginning of period	198,911	138,838	174,935
Cash and cash equivalents at end of period	$ 470,166	$ 198,911	$ 138,838

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment
Balance, Beginning of Period (in shares) at Dec. 31, 2017			81,306,000
Balance, Beginning of Period at Dec. 31, 2017	$ 962,306		$ 813	$ (121,644)	$ 821,758	$ (23,807)	$ 285,186
Balance, Beginning of Period (Accounting Standards Update 2014-09) at Dec. 31, 2017		$ 1,854						$ 1,854
Balance, Beginning of Period, Treasury Stock (in shares) at Dec. 31, 2017				(2,927,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of Update No. 2018-02	532						532
Net income	60,801						60,801
Other comprehensive loss, net of tax	(21,636)					(21,636)
Issuance of common stock through employee stock purchase plan	553				553
Issuance of common stock for vesting of share-based awards, net of shares withheld for taxes (in shares)			700,000	46,000
Issuance of common stock for vesting of share-based awards, net of shares withheld for taxes	1,086		$ 4	$ 1,030	52
Equity offering (in shares)			6,038,000
Equity offering	349,589		$ 60		349,529
Share-based compensation	20,712		$ 3		20,709
Balance, End of Period (in shares) at Dec. 31, 2018			88,044,000
Balance, End of Period at Dec. 31, 2018	1,375,796		$ 880	$ (120,615)	1,192,601	(45,443)	348,373
Balance, End of Period, Treasury Stock (in shares) at Dec. 31, 2018				(2,881,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	50,201						50,201
Other comprehensive loss, net of tax	(30,959)					(30,959)
Issuance of common stock through employee stock purchase plan (in shares)			17,000
Issuance of common stock through employee stock purchase plan	716				716
Issuance of common stock for vesting of share-based awards, net of shares withheld for taxes (in shares)			674,000	16,000
Issuance of common stock for vesting of share-based awards, net of shares withheld for taxes	(282)		$ 7	$ 672	(961)
Share-based compensation	$ 21,264				21,264
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Balance, End of Period (in shares) at Dec. 31, 2019			88,735,000
Balance, End of Period at Dec. 31, 2019	$ 1,416,736	$ (200)	$ 887	$ (119,943)	1,213,620	(76,402)	398,574	$ (200)
Balance, End of Period, Treasury Stock (in shares) at Dec. 31, 2019	(2,865,000)			(2,865,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 133,892						133,892
Other comprehensive loss, net of tax	2,343					2,343
Issuance of common stock through employee stock purchase plan (in shares)			13,000
Issuance of common stock through employee stock purchase plan	694				694
Issuance of common stock for vesting of share-based awards, net of shares withheld for taxes (in shares)			503,000	11,000
Issuance of common stock for vesting of share-based awards, net of shares withheld for taxes	(538)		$ 2	$ 526	(1,066)
Share-based compensation	19,401		$ 4		19,397
Share repurchase and equity component of the convertible note issuance, net	$ 42,539				42,539
Accelerated shares repurchased (in shares)	(2,100,000)			(2,060,000)
Accelerated shares repurchased	$ (100,000)			$ (115,724)	15,724
Balance, End of Period (in shares) at Dec. 31, 2020			89,251,000
Balance, End of Period at Dec. 31, 2020	$ 1,514,867		$ 893	$ (235,141)	$ 1,290,908	$ (74,059)	$ 532,266
Balance, End of Period, Treasury Stock (in shares) at Dec. 31, 2020	(4,914,000)			(4,914,000)

BUSINESS	12 Months Ended
BUSINESS	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESSIntegra LifeSciences Holdings Corporation (the “Company”) was incorporated in Delaware in 1989. The Company, a worldwide leader in medical devices, is dedicated to limiting uncertainty for surgeons through the development, manufacturing, and marketing of cost-effective surgical implants and medical instruments. Its products are used primarily in neurosurgery, reconstruction and general surgery. The Company sells its products directly through various sales forces and through a variety of other distribution channels.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION

These financial statements and the accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America and conform to Regulation S-X under the Securities Exchange Act of 1934, as amended.

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly owned. All intercompany accounts and transactions are eliminated in consolidation. See Note 5, Acquisitions, for details of new subsidiaries included in the consolidation.

USE OF ESTIMATES

The preparation of consolidated financial statements is in conformity with generally accepted accounting principles in the United States ("GAAP") which requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent liabilities, and the reported amounts of revenues and expenses. Significant estimates affecting amounts reported or disclosed in the consolidated financial statements include allowances for doubtful accounts receivable and sales returns and allowances, net realizable value of inventories, in-process research and development ("IPR&D"), valuation of intangible assets including amortization periods for acquired intangible assets, discount rates and estimated projected cash flows used to value and test impairments of long-lived assets and goodwill, estimates of projected cash flows and depreciation and amortization periods for long-lived assets, computation of taxes, valuation allowances recorded against deferred tax assets, the valuation of stock-based compensation, valuation of derivative instruments, valuation of the equity component of convertible debt instruments, valuation of contingent liabilities, the fair value of debt instruments and loss contingencies. These estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the current circumstances. Actual results could differ from these estimates. The novel coronavirus (“COVID-19”) pandemic and the resulting adverse impacts to global economic conditions, as well as our operations, may impact future estimates including, but not limited to, inventory valuations, fair value measurements, goodwill and long-lived asset impairments, the effectiveness of the Company’s hedging instruments, deferred tax valuation allowances, and allowances for doubtful accounts receivable.

RECLASSIFICATIONS

Certain amounts from the prior year's financial statements have been reclassified in order to conform to the current year's presentation.

CASH AND CASH EQUIVALENTS

The Company considers all short-term, highly liquid investments purchased with original maturities of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value.

TRADE ACCOUNTS RECEIVABLE AND ALLOWANCES FOR DOUBTFUL ACCOUNTS RECEIVABLE

Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The Company grants credit to customers in the normal course of business, but generally does not require collateral or any other security to support its receivables.

The Company evaluates the collectability of accounts receivable based on a combination of factors. The Company recognizes a provision for doubtful accounts that reflects the Company’s estimate of expected credit losses for trade accounts receivable. In circumstances where a specific customer is unable to meet its financial obligations to the Company, a provision to the allowances for doubtful accounts is recorded against amounts due to reduce the net recognized receivable to the amount that is reasonably expected to be collected. For all other customers, the Company evaluates measurement of all expected credit losses for trade receivables held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Provisions to the allowances for doubtful accounts are recorded to selling, general and administrative expenses. Account balances are charged off against the allowance when it is probable that the receivable will not be recovered.

Provision for doubtful accounts net of recoveries, associated with accounts receivable, included in selling, general and administrative expense, were $3.6 million, $2.1 million, and $0.6 million for the years ended December 31, 2020, 2019 and 2018, respectively.

INVENTORIES

Inventories, consisting of purchased materials, direct labor and manufacturing overhead, are stated at the lower of cost, the value determined by the first-in, first-out method, or net realizable value. Inventories consisted of the following:


	December 31,
	2020		2019
	(In thousands)
Finished goods	$	180,301	$	201,870
Work in process	53,336		48,333
Raw materials	76,480		65,851

Total inventories, net	$	310,117	$	316,054

At December 31, 2020, $52.8 million of inventories, net was presented separately as "Assets held for sale" in conjunction with the sale of the Extremity Orthopedics business. See Note 3, Assets and Liabilities Held for Sale.

At each balance sheet date, the Company evaluates inventories for excess quantities, obsolescence or shelf life expiration. This evaluation includes analysis of historical sales levels by product, projections of future demand, the risk of technological or competitive obsolescence for products, general market conditions, a review of the shelf life expiration dates for products, as well as the feasibility of reworking or using excess or obsolete products or components in the production or assembly of other products that are not obsolete or for which there are not excess quantities in inventory. To the extent that management determines there are excess or obsolete inventory or quantities with a shelf life that is too near its expiration for the Company to reasonably expect that it can sell those products prior to their expiration, the Company adjusts the carrying value to estimated net realizable value.

The Company capitalizes inventory costs associated with certain products prior to regulatory approval, based on management's judgment of probable economic benefit. The Company could be required to expense previously capitalized costs related to pre-approval inventory upon a change in such judgment, due to, among other potential factors, a denial or delay of approval by necessary regulatory bodies or a decision by management to discontinue the related development program. No such amounts were capitalized at December 31, 2020 or 2019.

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are stated at historical cost less accumulated depreciation and any impairment charges. The Company provides for depreciation using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the lesser of the lease term or the useful life. The cost of major additions and improvements is capitalized, while maintenance and repair costs that do not improve or extend the lives of the respective assets are charged to operations as incurred. The cost of computer software developed or obtained for internal use is accounted for in accordance with the Accounting Standards Codification 350-40, Internal-Use Software.

Property, plant and equipment balances and corresponding lives were as follows:


	December 31,
	2020		2019		Useful Lives
	(In thousands)
Land	$	1,541	$	1,476
Buildings and building improvements	17,345		16,262		5-40 years
Leasehold improvements	144,852		114,941		1-20 years
Machinery and production equipment	166,973		155,313		3-20 years
Surgical instrument kits	1,164		33,104		4-5 years
Information systems and hardware	143,770		138,398		1-7 years
Furniture, fixtures, and office equipment	20,843		22,145		1-15 years
Construction-in-progress	73,890		140,366
Total	570,378		622,005
Less: Accumulated depreciation	(282,849)		(284,601)

Property, plant and equipment, net	$	287,529	$	337,404

At December 31, 2020, $37.9 million of property, plant and equipment, net was presented separately as "Assets held for sale" in conjunction with the sale of the Extremity Orthopedics business. See Note 3, Assets and Liabilities Held for Sale.

Depreciation expense associated with property, plant and equipment was $42.1 million, $42.6 million, and $44.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.

During the fourth quarter of 2020, the Company wrote-off certain construction in progress of $6.7 million related to a manufacturing project that the Company decided to discontinue. The Company determined that the carrying amounts of these assets were not recoverable.

CAPITALIZED INTEREST

The interest cost on capital projects, including facilities build-out and internal use software, is capitalized and included in the cost of the project. Capitalization commences with the first expenditure for the project and continues until the project is substantially complete and ready for its intended use. When no debt is incurred specifically for a project, interest is capitalized on project expenditures using the weighted average cost of the Company's outstanding borrowings. For the years ended December 31, 2020 and 2019, respectively, the Company capitalized $2.3 million and $3.1 million of interest expense into property, plant and equipment.

ACQUISITIONS

Results of operations of acquired companies are included in the Company’s results of operations as of the respective acquisition dates. Acquired businesses are accounted for using the acquisition method of accounting, which requires that assets acquired and liabilities assumed be recorded at fair value, with limited exceptions. Any excess of the purchase price over the fair value of the net assets acquired is recorded as goodwill. Transaction costs and costs to restructure the acquired Company are expensed as incurred. The operating results of the acquired business are reflected in the consolidated financial statements after the date of acquisition. Acquired IPR&D is recognized at fair value and initially characterized as an indefinite-lived intangible asset, irrespective of whether the acquired IPR&D has an alternative future use. Contingent consideration is recognized at the estimated fair value on the acquisition date. Subsequent changes to the fair value of contingent payments are recognized in selling, general and administrative expense in consolidated statements of operations. Contingent payments related to acquisitions consist of development, regulatory, and commercial milestone payments, in addition to sales-based payments, and are valued using discounted cash flow techniques. The fair value of development, regulatory, and commercial milestone payments reflects management’s expectations of the probability of payment and increases or decreases as the probability of payment or expectation of timing of payments changes. The fair value of sales-based payments is based upon probability-weighted future revenue estimates and increases or decreases as revenue estimates or expectation of timing of payments changes.

If the acquired net assets do not constitute a business under the acquisition method of accounting, the transaction is accounted for as an asset acquisition and no goodwill is recognized. In an asset acquisition, the amount allocated to acquired IPR&D with no alternative future use is charged to expense at the acquisition date. Payments that would be recognized as contingent consideration in a business combination are expensed when probable in an asset acquisition. Refer to Note 5, Acquisitions for more information.

GOODWILL AND OTHER INTANGIBLE ASSETS

The excess of the cost over the fair value of net assets of acquired businesses is recorded as goodwill. Goodwill is not subject to amortization but is reviewed for impairment at the reporting unit level annually, or more frequently if impairment indicators arise. The Company's assessment of the recoverability of goodwill is based upon a comparison of the carrying value of goodwill with its estimated fair value. The Company reviews goodwill for impairment in the third quarter every year in accordance with ASC Topic 350 and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. Refer to Note 8, Goodwill and Other Intangibles for more information.

The Company has two reportable segments with three underlying reporting units. Refer to Note 17, Segment and Geographic Information for more information on reportable segments.

When the Company acquires a business, the assets acquired, including IPR&D, and liabilities assumed are recorded at their respective fair values as of the acquisition date. The Company's policy defines IPR&D as the fair value of those projects for which the related products have not received regulatory approval and have no alternative future use. Determining the fair value of intangible assets, including IPR&D, acquired as part of a business combination requires the Company to make significant estimates. These estimates include the amount and timing of projected future cash flows, the discount rate used to discount those cash flows to present value, the assessment of the asset’s life cycle, and the consideration of legal, technical, regulatory, economic, and competitive risks. The fair value assigned to other intangible assets is determined by estimating the future cash flows of each project or technology and discounting the net cash flows back to their present values. The discount rate used is determined at the time of measurement in accordance with accepted valuation methodologies.

IPR&D acquired in a business combination is capitalized as an indefinite-lived intangible asset. Development costs incurred after the acquisition are expensed as incurred. Upon receipt of regulatory approval, the indefinite-lived intangible asset is then accounted for as a finite-lived intangible asset and amortized on a straight-line basis or accelerated basis, as appropriate, over its estimated useful life. If the research and development project is subsequently abandoned, the indefinite-lived intangible asset is charged to expense. IPR&D acquired outside of a business combination is expensed immediately.

Due to the uncertainty associated with research and development projects, there is risk that actual results will differ materially from the original cash flow projections and that the research and development project will result in a successful commercial product. The risks associated with achieving commercialization include, but are not limited to, delay or failure to obtain regulatory approvals to conduct clinical trials, delay or failure to obtain required market clearances, delays or issues with patent issuance, or validity and litigation.

Other intangible assets include patents, trademarks, purchased technology, and supplier and customer relationships. Identifiable intangible assets are initially recorded at fair market value at the time of acquisition generally using an income or cost approach. The Company capitalizes costs incurred to renew or extend the term of recognized intangible assets and amortizes those costs over their expected useful lives.

LONG-LIVED ASSETS

Long-lived assets held and used by the Company, including property, plant and equipment, intangible assets, and leases are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets to be held and used, a recoverability test is performed using projected undiscounted net cash flows applicable to the long-lived assets. If an impairment exists, the amount of such impairment is calculated based on the estimated fair value of the asset. Impairments to long-lived assets to be disposed of are recorded based upon the difference between the carrying value and the fair value of the applicable assets.

INTEGRA FOUNDATION

The Company may periodically make contributions to the Integra Foundation, Inc. The Integra Foundation was incorporated in 2002 exclusively for charitable, educational, and scientific purposes and qualifies under IRC 501(c)(3) as an exempt private foundation. Under its charter, the Integra Foundation engages in activities that promote health, the diagnosis and treatment of disease, and the development of medical science through grants, contributions and other appropriate means. The Integra Foundation is a separate legal entity and is not a subsidiary of the Company; therefore, its results are not included in these consolidated financial statements. The Company contributed $0.8 million, $0.3 million and $0.8 million to the Integra Foundation during the years ended December 31, 2020, 2019 and 2018, respectively. These contributions were recorded in selling, general, and administrative expense.

DERIVATIVES

The Company develops, manufactures, and sells medical devices globally and its earnings and cash flows are exposed to market risk from changes in interest rates and currency exchange rates. The Company addresses these risks through a risk management program that includes the use of derivative financial instruments and operates the program pursuant to documented corporate risk management policies. All derivative financial instruments are recognized in the financial statements at fair value in accordance with the authoritative guidance. Under the guidance, for those instruments that are designated and qualify as hedging instruments, the hedging instrument must be designated as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation, based on the exposure being hedged. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, further, on the type of hedging relationship. The Company's derivative instruments do not subject its earnings or cash flows to material risk, and gains and losses on these derivatives generally offset losses and gains on the item being hedged. The Company has not entered into derivative transactions for speculative purposes and from time to time, the Company may enter into derivatives that are not designated as hedging instruments in order to protect itself from currency volatility due to intercompany balances.

All derivative instruments are recognized at their fair values as either assets or liabilities on the balance sheet. The Company determines the fair value of its derivative instruments using the framework prescribed by the authoritative guidance, by considering the estimated amount the Company would receive to sell or transfer these instruments at the reporting date and by taking into account: expected forward interest rates, currency exchange rates, the creditworthiness of the counterparty for assets, and its creditworthiness for liabilities. In certain instances, the Company utilizes a discounted cash flow model to measure fair value. Generally, the Company uses inputs that include quoted prices for similar assets or liabilities in active markets, other observable inputs for the asset or liability and inputs derived principally from, or corroborated by, observable market data by correlation or other means. The Company has classified all of its derivative assets and liabilities within Level 2 of the fair value hierarchy because observable inputs are available for substantially the full term of its derivative instruments. The Company classifies derivatives designated as hedges in the same category as the item being hedged for cash flow presentation purposes.

The Company entered into a foreign currency forward contract that is not designated as a hedging instrument for accounting purposes. This contract is recorded at fair value, with the changes in fair value recognized into other income, net on the consolidated financial statements. Refer to Note 7, Derivative Instruments for more information.

FOREIGN CURRENCY

All assets and liabilities of foreign subsidiaries which have a functional currency other than the U.S. dollar are translated at the rate of exchange at year-end, while elements of the income statement are translated at the average exchange rates in effect during the year. The net effect of these translation adjustments is shown as a component of accumulated other comprehensive income (loss). These currency translation adjustments are not currently adjusted for income taxes as they relate to permanent investments in non-U.S. subsidiaries. Foreign currency transaction losses of $1.6 million, $0.3 million and $1.7 million are reported in other income, net in the statements of operations, for the year ended December 31, 2020, 2019 and 2018, respectively.

INCOME TAXES

Income taxes are accounted for by using the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period when the change is enacted.

The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not to be sustained upon examination based on the technical merits of the position. Reserves are established for positions that don't meet this recognition threshold. The reserve is measured as the largest amount of benefit determined on a cumulative probability basis that the Company believes is more likely than not to be realized upon ultimate settlement of the position. These reserves are classified as long-term liabilities in the consolidated balance sheets of the Company, unless the reserves are expected to be paid in cash during the next twelve months, in which case they are classified as current liabilities. The Company also records interest and penalties accrued in relation to uncertain tax benefits as a component of income tax expense.

While the Company believes it has identified all reasonably identifiable exposures and the reserve it has established for identifiable exposures is appropriate under the circumstances, it is possible that additional exposures exist and that exposures may be settled at amounts different than the amounts reserved. It is also possible that changes in facts and circumstances could cause the Company to either materially increase or reduce the carrying amount of its tax reserve.

The Company continues to indefinitely reinvest substantially all of its foreign earnings. The current provisional analysis indicates that the Company has sufficient U.S. liquidity, including borrowing capacity, to fund foreseeable U.S. cash needs without requiring the repatriation of foreign cash. The Tax Cuts and Jobs Act (the “2017 Tax Act”), enacted in December 2017,

imposed a toll tax on a deemed repatriation of undistributed earnings of foreign subsidiaries. One time or unusual items that may impact the ability or intent to keep the foreign earnings and cash indefinitely reinvested include significant U.S. acquisitions, loans from a foreign subsidiary and changes in tax laws.

REVENUE RECOGNITION

On January 1, 2018, the Company adopted Topic 606 using the modified retrospective method applied to all contracts which were not completed as of January 1, 2018. Results of operations for the reporting periods after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with Topic 605, Revenue Recognition. The adoption of Topic 606 resulted in an increase to the opening retained earnings of $1.9 million, which was recorded net of taxes as of January 1, 2018 to reflect the change in timing of the recognition of revenue related to the Company's private label business from point in time to over time during the manufacturing process and goods in transit for which control was transferred to customers at the time of shipment. The total assets and liabilities increased by $7.1 million and $5.2 million, respectively, as of January 1, 2018.

Revenue is recognized upon the transfer of control of promised products or services to the customers in an amount that reflects the consideration the Company expects to receive in exchange for those products and services.

Total revenue, net, includes product sales, product royalties and other revenues, such as fees received from services.

For products shipped with FOB shipping point terms, the control of the product passes to the customer at the time of shipment. For shipments in which the control of the product is transferred when the customer receives the product, the Company recognizes revenue upon receipt by the customer. Certain products that the Company produces for private label customers have no alternative use and the Company has a right of payment for performance to date. Revenues from those products are recognized over the period that the Company manufactures these products, which is typically one to three months. The Company uses the input method to measure the manufacturing activities completed to date, which depicts the progress of the Company's performance obligation of transferring control of goods being manufactured for private label customers.

A portion of the Company's product revenue is generated from consigned inventory maintained at hospitals and distributors, and also from inventory physically held by field sales representatives. For these types of products sales, the Company retains control until the product has been used or implanted, at which time revenue is recognized.

Revenues from sale of products and services are evidenced by either a contract with the customer or a valid purchase order and an invoice which includes all relevant terms of sale. For product sales, invoices are generally issued upon the transfer of control (or upon the completion of the manufacturing in the case of the private label transactions recognized over time) and are typically payable 30 days after the invoice date. The Company performs a review of each specific customer's creditworthiness and ability to pay prior to acceptance as a customer. Further, the Company performs periodic reviews of its customers' creditworthiness prospectively. Refer to Note 4, Revenue From Contracts With Customers for more information.

RESEARCH AND DEVELOPMENT

Research and development costs, including salaries, depreciation, consultant and other external fees, and facility costs directly attributable to research and development activities, are expensed in the period in which they are incurred.

EMPLOYEE TERMINATION BENEFITS

The Company does not have a written severance plan, and it does not offer similar termination benefits to affected employees in all restructuring initiatives. Accordingly, in situations where minimum statutory termination benefits must be paid to the affected employees, the Company records employee severance costs associated with these restructuring activities in accordance with the authoritative guidance for non-retirement post-employment benefits. Charges associated with these activities are recorded when the payment of benefits is probable and can be reasonably estimated. In all other situations where the Company pays out termination benefits, including supplemental benefits paid in excess of statutory minimum amounts and benefits offered to affected employees based on management's discretion, the Company records these termination costs in accordance with the authoritative guidance for ASC Topic 712 Compensation-Nonretirement Benefits and ASC Topic 420 One-time Employee Termination Benefits.

The timing of the recognition of charges for employee severance costs other than minimum statutory benefits depends on whether the affected employees are required to render service beyond their legal notification period in order to receive the benefits. If affected employees are required to render service beyond their legal notification period, charges are recognized over the future service period. Otherwise, charges are recognized when management has approved a specific plan and employee communication requirements have been met.

For the year ended December 31, 2020, the Company incurred restructuring costs of $4.9 million in cost of goods sold, $1.2 million in selling, general and administrative and $0.3 million in research and development related to employee terminations associated with a future plant closure in the consolidated statement of operations. As of December 31, 2020, the restructuring costs of $6.4 million were included in other liabilities in the consolidated balance sheet.

STOCK-BASED COMPENSATION

Relevant authoritative guidance requires companies to recognize the expense related to the fair value of their stock-based compensation awards. Stock-based compensation expense for stock option awards are based on the grant date fair value using the binomial distribution model. The Company recognizes compensation expense for stock option awards, restricted stock awards, performance stock awards and contract stock awards over the requisite service period of the award. All excess tax benefits and taxes and tax deficiencies from stock-based compensation are included in provision for income taxes in the consolidated statement of operations. Refer to Note 10, Stock-based Compensation for more information.

PENSION BENEFITS

The Company maintains defined benefit pension plans that cover certain employees in France, Japan, Germany and Switzerland. Various factors are considered in determining the pension liability, including the number of employees expected to be paid their salary levels and years of service, the expected return on plan assets, the discount rate used to determine the benefit obligations, the timing of benefit payments and other actuarial assumptions.

Retirement benefit plan assumptions are reassessed on an annual basis or more frequently if changes in circumstances indicate a re-evaluation of assumptions are required. The key benefit plan assumptions are the discount rate and expected rate of return on plan assets. The discount rate is based on average rates on bonds that matched the expected cash outflows of the benefit plans. The expected rate of return is based on historical and expected returns on the various categories of plan assets.

The Company uses the corridor approach in measuring the amount of net periodic benefit pension cost to recognize each period. The corridor approach defers all actuarial gains and losses resulting from variances between actual results and actuarial assumptions. Those unrecognized gains and losses are amortized when the net gains and losses exceed 10% of the greater of the market-related value of plan assets or the projected benefit obligation at the beginning of the year. The amount in excess of the corridor is amortized over the average remaining service period to retirement date of active plan participants.

Deferred Compensation Plan

In May 2019, the Company adopted the Integra LifeSciences Deferred Compensation Plan (the “Plan”). Under the Plan, certain employees of the Company may defer the payment and taxation of up to 75% of their base salary and up to 100% of bonus amounts and other eligible cash compensation.

This deferred compensation is invested in funds offered under the Plan and is valued based on Level 1 measurements in the fair value hierarchy. The purpose of the Plan is to retain key employees by providing them with an opportunity to defer a portion of their compensation as elected by the participant in accordance with the Plan. Any amounts set aside to defray the liabilities assumed by the Company will remain the general assets of the Company until such amounts are distributed to the participants. Assets of the Company's deferred compensation plan are included in Other current assets and recorded at fair value based on their quoted market prices.

CONCENTRATION OF CREDIT RISK

Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents, which are held at major financial institutions, investment-grade marketable debt securities and trade receivables.

The Company's products are sold on an uncollateralized basis and on credit terms based upon a credit risk assessment of each customer. A portion of the Company's trade receivables to customers outside the United States includes sales to foreign distributors, who then sell to government owned or supported healthcare systems.

None of the Company's customers accounted for 10% or more of the consolidated net sales during the years ended December 31, 2020, 2019 and 2018.

RECENT ACCOUNTING PRONOUNCEMENTS

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (the New Lease Standard). The New Lease Standard requires that lessees recognize virtually all of its leases on the balance sheet by recording a right-of-use asset and lease liability (other than leases that meet the definition of a "short-term lease"). This update became effective for all annual periods and interim reporting periods beginning after December 15, 2018. The Company adopted the New Lease Standard as of January 1, 2019 using a modified retrospective transition. Under this method, financial results reported in periods prior to January 1, 2019 are unchanged. The Company elected the ‘package of practical expedients’ which permits the Company not to reassess the prior conclusions about lease identification, lease classification and initial direct costs under the new standard. The Company also

elected the use-of-hindsight practical expedient. As most of the leases do not provide an implicit rate, the Company used the collateralized incremental borrowing rate based on the information available at the lease implementation date in determining the present value of the lease payments. The adoption of the New Lease Standard had an initial impact on the consolidated balance sheet due to the recognition of $76.4 million of lease liabilities with corresponding right-of-use assets ("ROU") of $67.3 million for operating leases. The difference between lease liabilities and right-of-use assets is primarily attributed to unamortized lease incentives which is amortized over the term of each respective lease. Refer to Note 12, Leases and Related Party Leases for more information.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The ASU requires the measurement of all expected credit losses for financial assets including trade receivables held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. The ASU became effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted this guidance on January 1, 2020 using a modified retrospective transition method which requires a cumulative-effect adjustment to the opening balance of retained earnings to be recognized on the date of adoption with no change to financial results reported in prior periods. The cumulative-effect adjustment recorded on January 1, 2020 is not material. The adoption of this ASU did not have a significant impact on the Company's consolidated financial statements and related disclosures.

The Company's exposure to credit losses may increase if its customers are adversely affected by changes in healthcare laws, coverage, and reimbursement, economic pressures or uncertainty associated with local or global economic recessions, disruption associated with the COVID-19 pandemic, and other customer-specific factors. Although the Company has historically not experienced significant credit losses, it is possible that there could be an adverse impact due to customer and governmental responses to the COVID-19 pandemic.

In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans. This guidance modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans, including removing certain previous disclosure requirements, adding certain new disclosure requirements, and clarifying certain other disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption was permitted. The Company adopted this guidance for the year ended December 31, 2020. The adoption of this guidance did not have a significant impact on the Company's consolidated financial statements and related disclosures.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), relating to a customer's accounting for implementation, set-up, and other upfront costs incurred in a cloud computing arrangement that is hosted by a vendor (e.g., a service contract). Under this guidance, a customer will apply the same criteria for capitalizing implementation costs as it would for an arrangement that has a software license. The new guidance also prescribes the balance sheet, income statement, and cash flow classification of the capitalized implementation costs and related amortization expense, and requires additional quantitative and qualitative disclosures. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted this guidance on January 1, 2020 using a prospective transition method. The adoption of this guidance did not have a significant impact on the Company's consolidated financial statements and related disclosures.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes: Simplifying the Accounting for Income Taxes, intended to simplify the accounting for income taxes by eliminating certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard is effective for annual periods beginning after December 15, 2020 and interim periods within, with early adoption permitted. The Company will adopt ASU No. 2019-12 effective January 1, 2021. Adoption of the standard requires certain changes to be made prospectively, with some changes to be made retrospectively. The Company does not expect this guidance to have a material impact on our results or financial position.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform, which provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. This amendment applies to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This ASU became effective immediately and may be applied prospectively to contract modifications made and hedging

relationships entered into or evaluated on or before December 31, 2022. In January of 2021, the FASB also issued ASU No. 2021-01, Reference Rate Reform- Scope which clarified certain optional expedients and exceptions to entities that are affected because of the reference rate reform. The amendments in this ASU affect the guidance in ASU No. 2020-04 and are effective in the same timeframe as ASU No. 2020-04. The Company is currently assessing the impact that this ASU will have on its consolidated financial statements and related disclosures.

In August 2020, the FASB issued ASU No. 2020-06 Debt- Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40)-Accounting For Convertible Instruments and Contracts in an Entity's Own Equity. The guidance simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify. The guidance also simplifies the diluted net income per share calculation in certain areas. The ASU will be effective for annual and interim periods beginning after December 15, 2021, and early adoption is permitted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company will adopt this standard on January 1, 2021 using the modified retrospective method. The estimated impact includes the convertible debt instrument being accounted for as a single liability measured at its amortized cost and elimination of the non-cash interest expense as the Company will not separately present the equity embedded conversion feature in such debt. The Company also expects to adopt the if-converted method for earnings per share.

In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which updates various codification topics by clarifying or improving disclosure requirements to align with the SEC’s regulations. The Company will adopt ASU 2020-10 as of the reporting period beginning January 1, 2021. The adoption of this update is not expected to have a material effect on the Company’s consolidated financial statements.

There are no other recently issued accounting pronouncements that are expected to have a significant effect on the Company's financial position, results of operations or cash flows.

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid for interest during the years ended December 31, 2020, 2019 and 2018 was $47.3 million (net of $2.3 million that was capitalized into construction in progress), $48.9 million (net of $3.1 million that was capitalized into construction in progress) and $58.3 million (net of $2.3 million that was capitalized into construction in progress), respectively.

Cash paid for income taxes, net of refunds, for the years ended December 31, 2020, 2019 and 2018 was $29.8 million, $16.2 million and $10.4 million, respectively.

NON-CASH INVESTING AND FINANCING ACTIVITIES

Property and equipment purchases included in liabilities at December 31, 2020, 2019 and 2018 were $1.6 million, $11.0 million and $5.4 million, respectively.

In December 2019, the Company achieved the first developmental milestone which triggered a $5.0 million obligation to be paid to former shareholders of Rebound Therapeutics Corporation ("Rebound"). In addition, the Company recorded $5.0 million as in-process research and development expense in the consolidated statements of operations. The obligation was included in accrued liabilities at December 31, 2019 in the consolidated balance sheets. The milestone was paid during the first quarter of 2020.

ASSETS AND LIABILITIES HELD FOR SALE

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

ASSETS AND LIABILITIES HELD FOR SALE

On September 29, 2020, the Company and certain of its subsidiaries entered into an agreement to sell its Extremity Orthopedics business to Smith & Nephew USD Limited for approximately $240 million in cash. The transaction includes the sale of the Company’s upper and lower Extremity Orthopedics product portfolio, including ankle and shoulder arthroplasty and hand and wrist product lines. In connection with the transaction, the Company will pay $41.5 million to the Consortium of Focused Orthopedists, LLC (“CFO”) pursuant to the terms of certain agreements between Integra and CFO relating to the development of shoulder arthroplasty products. On January 4, 2021, upon the terms and conditions set forth in the Divestiture agreement, the Company completed its previously announced sale of its Extremity Orthopedics business to Smith & Nephew USD Limited and received an aggregate purchase price of $240.0 million. Refer to Note 18. Subsequent Events for details of the transaction.

The Company considered the assets and liabilities associated with the Extremity Orthopedics business to be accounted as held for-sale as the six criteria under ASC 260 were met during the third quarter of 2020. Upon designation of the assets and liabilities as held for sale, the Company recorded the assets at the lower of their carrying value or their estimated fair value, less

estimated costs to sell. Goodwill was allocated to the assets and liabilities held for sale using the relative fair value method of the Extremity Orthopedics business to the Company's Orthopedics and Tissue Technologies reporting unit. The fair value of the business less costs to sell exceeded the related carrying value.

The Extremity Orthopedics business was treated as a single disposal group and presented separately in the consolidated balance sheet as assets and liabilities held for sale as of December 31, 2020. These balances are presented as current assets and liabilities as they are expected to be sold within twelve months.

The major classes of assets and liabilities classified as a held for sale consisted of the following as of December 31, 2020 (amounts in thousands):


Prepaid expenses and other current assets			713
Right of use asset - operating leases and Other assets			3,186
Deferred tax assets			6,589
Intangible assets, net			13,332
Property, plant and equipment, net			37,893
Goodwill			47,546
Inventories			52,845
Total assets held for sale			162,104
Other liabilities			336
Current portion of lease liability - operating leases			539
Accrued compensation			1,767
Deferred tax liabilities			3,440
Lease liability - operating leases			5,669
Total liabilities held for sale			11,751

REVENUES FROM CONTRACTS WITH CUSTOMERS

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

REVENUES FROM CONTRACTS WITH CUSTOMERS

Summary of Accounting Policies on Revenue Recognition

Performance Obligations

The Company's performance obligations consist mainly of transferring control of goods and services identified in the contracts, purchase orders, or invoices. The Company has no significant multi-element contracts with customers.

Significant Judgments

Usage-based royalties and licenses are estimated based on the provisions of contracts with customers and recognized in the same period that the royalty-based products are sold by the Company's strategic partners. The Company estimates and recognizes royalty revenue based upon communication with licensees, historical information, and expected sales trends. Differences between actual reported licensee sales and those that were estimated are adjusted in the period in which they become known, which is typically the following quarter. Historically, such adjustments have not been significant.

The Company estimates returns, price concessions, and discount allowances using the expected value method based on historical trends and other known factors. Rebate allowances are estimated using the most likely method based on each customer contract.

The Company's return policy, as set forth in its product catalogs and sales invoices, requires review and authorization in advance prior to the return of product. Upon the authorization, a credit will be issued for the goods returned within a set amount of days from the shipment, which is generally ninety days.

The Company disregards the effects of a financing component if the Company expects, at contract inception, that the period between the transfer and customer payment for the goods or services will be one year or less. The Company has no significant revenues recognized on payments expected to be received more than one year after the transfer of control of products or services to customers.

Contract Asset and Liability

Revenues recognized from the Company's private label business that are not invoiced to the customers as a result of recognizing revenue over time are recorded as a contract asset included in the prepaid expenses and other current assets account in the consolidated balance sheet.

Other operating revenues may include fees received under service agreements. Non-refundable fees received under multiple-period service agreements are recognized as revenue as the Company satisfies the performance obligations to the other party. A portion of the transaction price allocated to the performance obligations to be satisfied in the future periods is recognized as contract liability.

The following table summarized the changes in the contract asset and liability balances for the year ended December 31, 2020:


		Total
	(amounts in thousands)
Contract Asset
Contract asset, January 1, 2020		$	8,680
Transferred to trade receivable of contract asset included in beginning of the year contract asset		(8,680)
Contract asset, net of transferred to trade receivables on contracts during the period		7,430
Contract asset, December 31, 2020		$	7,430

Contract Liability
Contract liability, January 1, 2020		$	11,946
Recognition of revenue included in beginning of year contract liability		(3,925)
Contract liability, net of revenue recognized on contracts during the period		3,856

Foreign currency translation		84
Contract liability, December 31, 2020		$	11,961

At December 31, 2020, the short-term portion of the contract liability of $5.3 million and the long-term portion of $6.7 million were included in accrued expenses and other current liabilities and other liabilities in the consolidated balance sheet.

As of December 31, 2020, the Company is expected to recognize revenue of approximately $5.3 million in 2021, $2.9 million in 2022, $1.5 million in 2023, $0.8 million in 2024, $0.6 million in 2025, and $0.9 million thereafter.

Shipping and Handling Fees

The Company elected to account for shipping and handling activities as a fulfillment cost rather than a separate performance obligation. Amounts billed to customers for shipping and handling are included as part of the transaction price and recognized as revenue when control of underlying products is transferred to the customer. The related shipping and freight charges incurred by the Company are included in the cost of goods sold.

Product Warranties

Certain of the Company's medical devices, including monitoring systems and neurosurgical systems, are designed to operate over long periods of time. These products are sold with warranties which may extend for up to two years from the date of purchase. The warranties are not considered a separate performance obligation. The Company estimates its product warranties using the expected value method based on historical trends and other known factors. The Company includes them in accrued expenses and other current liabilities in the consolidated balance sheet.

Taxes Collected from Customers

The Company elected to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer.

Disaggregated Revenue

The following table presents revenues disaggregated by the major sources of revenues for years-ended December 31, 2020, 2019 and 2018 (amounts in thousands):


	Year Ended December 31, 2020		Year Ended December 31, 2019		Year Ended December 31, 2018
	(amounts in thousands)
Neurosurgery	716,339		767,793		740,268
Instruments	178,492		$	228,413	$	223,661
Total Codman Specialty Surgical	894,831		996,206		963,929

Wound Reconstruction	293,038		322,739		311,565
Extremity Orthopedics	78,316		90,082		90,588
Private Label	105,683		108,530		106,359
Total Orthopedics and Tissue Technologies	477,037		521,351		508,512
Total revenue	$	1,371,868	$	1,517,557	$	1,472,441

Prior period amounts were reclassified between categories within the Codman Specialty Surgical segment to conform to the current period presentation.

See Note 17, Segment and Geographical Information, for details of revenues based on the location of the customer.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 12
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

ACQUISITIONS

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

ACQUISITIONS

Arkis BioSciences Inc.

On July 29, 2019, the Company acquired Arkis BioSciences Inc. ("Arkis") for an acquisition purchase price of $30.6 million (the "Arkis Acquisition") plus contingent consideration of up to $25.5 million, that may be payable based on the successful completion of certain development and commercial milestones. The contingent consideration had an acquisition date fair value of $13.1 million. Arkis was a privately-held company that marketed the CerebroFlo® external ventricular drainage (EVD) catheter with Endexo® technology, a permanent additive designed to reduce the potential for catheter obstruction due to thrombus formation.

Assets Acquired and Liabilities Assumed at Fair Value

The Arkis Acquisition has been accounted for using the acquisition method of accounting. This method requires that assets acquired and liabilities assumed in a business combination to be recognized at their fair values as of the acquisition date.

The following table summarizes the final fair values of the assets acquired and liabilities assumed at the acquisition date:


	Final Valuation		Weighted Average Life
	(Dollars in thousands)
Cash	$	90
Other current assets	751
Property, plant and equipment	457
Deferred tax assets	1,697
Intangible assets:
CerebroFlo developed technology	20,100		15 years
Enabling technology license	1,980		14 years
Goodwill	27,153
Total assets acquired	52,228

Accounts payable, accrued expenses and other liabilities	2,926
Contingent consideration	13,100
Deferred tax liabilities	5,603
Net assets acquired	$	30,599

Intangible Assets

The estimated fair value of the intangible assets was determined using the income approach, which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. Some of the more significant assumptions inherent in the development of those asset valuations include the estimated net cash flows for each year for each asset (including net revenues, cost of sales, R&D costs, selling and marketing costs, and working capital/contributory asset charges), the appropriate discount rate to select in order to

measure the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, and competitive trends impacting the asset and each cash flow stream.

The Company used a discount rate of 14.5% to arrive at the present value for the acquired intangible assets to reflect the rate of return a market participant would expect to earn and incremental commercial uncertainty in the cash flow projections. No assurances can be given that the underlying assumptions used to prepare the discounted cash flow analysis will not change. For these and other reasons, actual results may vary significantly from estimated results.

Goodwill

The Company allocated goodwill related to the Arkis Acquisition to the Codman Specialty Surgical segment. Goodwill is the excess of the consideration transferred over the net assets recognized and represents the expected revenue and cost synergies of the combined company and assembled workforce. One of the key factors that contributes to the recognition of goodwill, and a driver for the Company's acquisition of Arkis, is the planned expansion of the Endexo technology with the existing products within the Codman Specialty Surgical segment. Goodwill recognized as a result of this acquisition is non-deductible for income tax purposes.

Contingent Consideration

The Company determines the acquisition date fair value of contingent consideration obligations based on a probability-weighted income approach derived from revenue estimates and a probability assessment with respect to the likelihood of achieving contingent obligations. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined using the fair value concepts in ASC 820. The resultant probability-weighted cash flows are discounted using an appropriate effective annual interest rate. At each reporting date, the contingent consideration obligation will be revalued to estimated fair value and changes in fair value will be reflected as income or expense in our consolidated statement of operations. Changes in the fair value of the contingent consideration obligations may result from changes in discount periods and rates, changes in the timing and amount of revenue estimates and changes in probability assumptions with respect to the likelihood of achieving the various contingent payment obligations. Adverse changes in assumptions utilized in the contingent consideration fair value estimates could result in an increase in the contingent consideration obligation and a corresponding charge to operating results.

As part of the acquisition, the Company is required to pay the former shareholders of Arkis up to $25.5 million based on the timing of certain development milestones of $10 million and commercial sales milestones of $15.5 million, respectively. The Company used a probability weighted income approach to calculate the fair value of the contingent consideration that considered the possible outcomes of scenarios related to each specified milestone. The Company estimated the fair value of the contingent consideration to be $13.1 million at the acquisition date. The estimated the fair value as of December 31, 2020 was $15.1 million. The Company recorded $3.4 million in accrued expenses and other current liabilities and $11.7 million in other liabilities at December 31, 2020 in the consolidated balance sheets of the Company.

Deferred Tax Liabilities

Deferred tax liabilities result from identifiable intangible assets’ fair value adjustments. These adjustments create excess book basis over tax basis which is tax-effected by the statutory tax rates of applicable jurisdictions.

The pro forma results are not presented for this acquisition as they are not material.

Rebound Therapeutics Corporation

On September 9, 2019, the Company acquired Rebound Therapeutics Corporation (“Rebound”), developers of a single-use medical device known as the AURORA Surgiscope® System ("Aurora") which enables minimally invasive access, using optics and illumination, for visualization, diagnostic and therapeutic use in neurosurgery (the “Rebound transaction”). Under the terms of the Rebound transaction, the Company made an upfront payment of $67.1 million and are committed to pay up to $35.0 million of contingent development milestones upon achievement of certain regulatory milestones. The acquisition of Rebound was primarily concentrated in one single identifiable asset and thus, for accounting purposes, the Company has concluded that the acquired assets do not meet the accounting definition of a business. The initial payment was allocated primarily to Aurora, resulting in a $59.9 million IPR&D expense. The balance of approximately $7.2 million, which included $2.1 million of cash and cash equivalents and a net deferred tax asset of $4.2 million, was allocated to the remaining net assets acquired. The deferred tax asset primarily resulted from a federal net operating loss carry forward.

During the fourth quarter of 2019, the Company achieved the first developmental milestone which triggered a $5.0 million obligation to be paid to former shareholders of Rebound. The Company recorded $5.0 million as IPR&D expense in the consolidated statements of operations. The obligation was included in accrued expenses and other current liabilities at December 31, 2019 in the consolidated balance sheets. The milestone was paid during the first quarter of 2020.

During the fourth quarter of 2020, the Company achieved another developmental milestone which triggered a $20.0 million obligation to be paid to the former shareholders of Rebound. The Company recorded $20.0 million as an intangible asset in the consolidated balance sheet upon achieving the milestone. The milestone was paid during the fourth quarter of 2020.

Integrated Shoulder Collaboration, Inc.

On January 4, 2019, the Company entered into a licensing agreement with Integrated Shoulder Collaboration, Inc ("ISC"). Under the terms of the agreement, the Company paid ISC $1.7 million for the exclusive, worldwide license to commercialize its short stem and stemless shoulder system. A patent related to short stem and stemless shoulder systems was issued to ISC during the first quarter of 2019. ISC is eligible to receive royalties on sales of the short stem and stemless shoulder system. The Company has the option to acquire ISC at a date four years subsequent to the first commercial sale, which becomes mandatory upon the achievement of a certain sales thresholds of the short stem and stemless shoulder system, for an amount not to exceed $80.0 million. The transaction was accounted for as an asset acquisition as the Company concluded that it acquired primarily one asset. The total upfront payment of $1.7 million was expensed as a component of research and development expense and the future milestone and option payments will be recorded if the corresponding events become probable.

In connection with the sale of the Company's Extremity Orthopedic business, on January 4, 2021 the Company paid $41.5 million to CFO pursuant to the terms of certain agreements between the Company and CFO relating to the sale of shares of ISC effectively terminating our licensing agreement with ISC. See Note 3, Assets and Liabilities Held for Sale and Note 18. Subsequent Events for details of the transaction.

DEBT

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

DEBT

Amendment to the Sixth Amended and Restated Senior Credit Agreement

On February 3, 2020, the Company entered into the sixth amendment and restatement (the "February 2020 Amendment") of its Senior Credit Facility (the "Senior Credit Facility") with a syndicate of lending banks with Bank of America, N.A., as Administrative Agent. The February 2020 Amendment extended the maturity date to February 3, 2025. The Company continues to have the aggregate principal amount of up to approximately $2.2 billion available to it through the following facilities: (i) $877.5 million Term Loan facility, and (ii) a $1.3 billion revolving credit facility, which includes a $60.0 million sublimit for the issuance of standby letters of credit and a $60.0 million sublimit for swingline loans.

On July 14, 2020, the Company entered into an amendment (the "July 2020 Amendment") to the February 2020 Amendment of the Senior Credit Facility to increase financial flexibility in light of the unprecedented impact and uncertainty of the COVID-19 pandemic on the global economy. The July 2020 amendment does not increase the Company’s total indebtedness.

In connection with the July 14, 2020 amendment, the Company’s maximum consolidated total leverage ratio in the financial covenants (as defined in the Senior Credit Facility) was modified to the following:


Fiscal Quarter						Maximum Consolidated Total Leverage Ratio


Execution of July 2020 Amendment through June 30, 2021						5.50 to 1.00
September 30, 2021 through June 30, 2022						5.00 to 1.00
September 30, 2022 through June 30, 2023						4.50 to 1.00
September 30, 2023 and the last day of each fiscal quarter thereafter						4.00 to 1.00

Borrowings under the Senior Credit Facility bear interest, at the Company’s option, at a rate equal to the following:

i.the Eurodollar Rate (as defined in the amendment and restatement) in effect from time to time plus the applicable rate (ranging from 1.00% to 2.25%), or

ii.the highest of:

1.the weighted average overnight Federal funds rate, as published by the Federal Reserve Bank of New York, plus 0.50%

2.the prime lending rate of Bank of America, N.A. or

3.the one-month Eurodollar Rate plus 1.00%

The applicable rates are based on the Company’s consolidated total leverage ratio (defined as the ratio of (a) consolidated funded indebtedness as of such date less cash that is not subject to any restriction on the use or investment thereof to (b) consolidated EBITDA as defined by the July 2020 amendment, for the period of four consecutive fiscal quarters ending on such date).

The Company will pay an annual commitment fee (ranging from 0.15% to 0.30%), based on the Company's consolidated total leverage ratio, on the amount available for borrowing under the revolving credit facility.

The Senior Credit Facility is collateralized by substantially all of the assets of the Company’s U.S. subsidiaries, excluding intangible assets. The Senior Credit Facility is subject to various financial and negative covenants and at December 31, 2020, the Company was in compliance with all such covenants and is expected to be in compliance over the next year. In connection with the February 2020 Amendment, the Company capitalized $4.6 million of financing costs in connection with modification of the Senior Credit Facility and wrote off $1.2 million of previously capitalized financing costs during the first quarter of 2020. In connection with the July 2020 amendment, the Company expensed $3.3 million of incremental financing costs in connection with the modification of the Senior Credit Facility during the third quarter of 2020.

At December 31, 2020 and 2019, there was $97.5 million and $375.0 million outstanding, respectively, under the revolving portion of the Senior Credit Facility at weighted average interest rates of 1.5% and 3.2%, respectively. At December 31, 2020 and 2019, there was $877.5 million outstanding, respectively, under the Term Loan component of the Senior Credit Facility at weighted average interest rates of 1.5% and 3.2%, respectively. At December 31, 2020, $33.8 million million of the Term Loan component of the Senior Credit Facility is classified as current on the consolidated balance sheet as the first mandatory repayment is due June 30, 2021.

The fair value of outstanding borrowings of the Senior Credit Facility's revolving credit facility and Term Loan component at December 31, 2020 were approximately $98.4 million and $883.6 million, respectively. These fair values were determined by using a discounted cash flow model based on current market interest rates available to the Company. These inputs are corroborated by observable market data for similar liabilities and therefore classified within Level 2 of the fair value hierarchy. Level 2 inputs represent inputs that are observable for the asset or liability, either directly or indirectly, and are other than active market observable inputs that reflect unadjusted quoted prices for identical assets or liabilities

Letters of credit outstanding as of December 31, 2020 and 2019 totaled $1.6 million and $0.8 million, respectively. There were no amounts drawn as of December 31, 2020.

Contractual repayments of the Term Loan component of Senior Credit Facility are due as follows:


Year-ended December 31, 2020	Principal Repayment
	(In thousands)


2021	$	33,750
2022	45,000
2023	61,875
2024	67,500
2025	669,375
	$	877,500

The outstanding balance of the revolving credit component of the Senior Credit Facility is due on February 3, 2025.

Convertible Senior Notes

On February 4, 2020, the Company issued $575.0 million aggregate principal amount of its 0.5% Convertible Senior Notes due 2025 (the "2025 Notes"). The 2025 Notes will mature on August 15, 2025 and bear interest at a rate of 0.5% per annum payable semi-annually in arrears, unless earlier converted, repurchased or redeemed in accordance with the terms of the Notes. The portion of debt proceeds that was classified as equity at the time of the offering was $104.5 million, and that amount is being amortized to interest expense using the effective interest method through August 2025. The effective interest rate implicit in the liability component is 4.2%. In connection with this offering, the Company capitalized $13.2 million of financing fees. At December 31, 2020, the carrying amount of the liability component was $485.9 million, the remaining unamortized discount was $89.1 million, and the principal amount outstanding was $575.0 million. The fair value of the 2025 Notes at December 31, 2020 was $638.1 million.

The 2025 Notes are senior, unsecured obligations of the Company, and are convertible into cash and shares of its common stock based on initial conversion rate, subject to adjustment of 13.5739 shares per $1,000 principal amounts of the 2025 Notes (which represents an initial conversion price of $73.67 per share). The 2025 Notes convert only in the following circumstances: (1) if the closing price of the Company's common stock has been at least 130% of the conversion price during the period; (2) if the average trading price per $1000 principal amount of the 2025 Notes is less than or equal to 98% of the average conversion value of the 2025 Notes during a period as defined in the indenture; (3) at any time on or after February 20, 2023; or (4) if

specified corporate transactions occur. As of December 31, 2020, none of these conditions existed with respect to the 2025 Notes and as a result the 2025 Notes are classified as long term.

On December 9, 2020, the Company entered into the First Supplemental Indenture to the original agreement dated as of February 4, 2020 between the Company and Citibank, N.A., as trustee, governing the Company’s outstanding 2025 Notes. The Company irrevocably elected (1) to eliminate the Company’s option to choose physical settlement on any conversion of the 2025 Notes that occurs on or after the date of the First Supplemental Indenture and (2) with respect to any Combination Settlement for a conversion of the 2025 Notes, the Specified Dollar Amount that will be settled in cash per $1,000 principal amount of the 2025 Notes shall be no lower than $1,000.

Holders of the Notes will have the right to require the Company to repurchase for cash all or a portion of their Notes at 100% of their principal amount, plus any accrued and unpaid interest, upon the occurrence of a fundamental change (as defined in the indenture relating to the Notes). The Company will also be required to increase the conversion rate for holders who convert their Notes in connection with certain fundamental changes occurring prior to the maturity date or following delivery by the Company of a notice of redemption.

In connection with the issuance of the 2025 Notes, the Company entered into call transactions and warrant transactions, primarily with affiliates of the initial purchasers of the 2025 Notes (the “hedge participants”). The cost of the call transactions was $104.2 million for the 2025 Notes. The Company received $44.5 million of proceeds from the warrant transactions for the 2025 Notes. The call transactions involved purchasing call options from the hedge participants, and the warrant transactions involved selling call options to the hedge participants with a higher strike price than the purchased call options. The initial strike price of the call transactions was $73.67, subject to anti-dilution adjustments substantially similar to those in the 2025 Notes. The initial strike price of the warrant transactions was $113.34 for the 2025 Notes, subject to customary anti-dilution adjustments.

During the twelve months ended December 31, 2020, the Company recognized cash interest related to the contractual interest coupon of $2.6 million and amortization of the discount on the liability component of $15.4 million for a total interest charge of $18.0 million on the 2025 Notes.

Securitization Facility

During the fourth quarter of 2018, the Company entered into an accounts receivable securitization facility (the "Securitization Facility") under which accounts receivable of certain domestic subsidiaries are sold on a non-recourse basis to a special purpose entity (“SPE”), which is a bankruptcy-remote, consolidated subsidiary of the Company. Accordingly, the assets of the SPE are not available to satisfy the obligations of the Company or any of its subsidiaries. From time to time, the SPE may finance such accounts receivable with a revolving loan facility secured by a pledge of such accounts receivable. The amount of outstanding borrowings on the Securitization Facility at any one time is limited to $150.0 million. The Securitization Facility Agreement ("Securitization Agreement") is for an initial three-year term and may be extended. The Securitization Agreement governing the Securitization Facility contains certain covenants and termination events. An occurrence of an event of default or a termination event under this Securitization Agreement may give rise to the right of its counterparty to terminate this facility. As of December 31, 2020, the Company was in compliance with the covenants and none of the termination events had occurred. The Company had $112.5 million and $104.5 million of outstanding borrowings under its Securitization Facility at a weighted average interest rate of 1.3% and 2.8% as of December 31, 2020 and 2019, respectively. At December 31, 2020, the total amount outstanding under the Securitization Facility is classified as current on the consolidated balance sheet as the total amount is due on December 21, 2021.

The fair value of the outstanding borrowing of the Securitization facility at December 31, 2020 was approximately $112.3 million.

DERIVATIVE INSTRUMENTS

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS

Interest Rate Hedging

The Company’s interest rate risk relates to U.S. dollar denominated variable interest rate borrowings. The Company uses interest rate swap derivative instruments to manage earnings and cash flow exposure resulting from changes in interest rates. These interest rate swaps apply a fixed interest rate on a portion of the Company's expected LIBOR-indexed floating-rate borrowings.

The Company held the following interest rate swaps as of December 31, 2020 and 2019 (dollar amounts in thousands):


	December 31, 2020		December 31, 2019							December 31, 2020		December 31, 2019
Hedged Item	Notional Amount				Designation Date	Effective Date	Termination Date	Fixed Interest Rate		Estimated Fair Value
										Asset (Liability)
3-month USD LIBOR	$	—	$	50,000	February 6, 2017	June 30, 2017	June 30, 2020	1.834	%	$	—	$	(2)
1-month USD LIBOR	—		100,000		February 6, 2017	June 30, 2017	June 30, 2020	1.652	%	—		12
1-month USD LIBOR	100,000		100,000		March 27, 2017	December 31, 2017	June 30, 2021	1.971	%	(929)		(581)
1-month USD LIBOR	150,000		150,000		December 13, 2017	January 1, 2018	December 31, 2022	2.201	%	(6,152)		(2,880)
1-month USD LIBOR	150,000		150,000		December 13, 2017	January 1, 2018	December 31, 2022	2.201	%	(6,405)		(2,880)
1-month USD LIBOR	100,000		100,000		December 13, 2017	July 1, 2019	June 30, 2024	2.423	%	(7,724)		(3,517)
1-month USD LIBOR	50,000		50,000		December 13, 2017	July 1, 2019	June 30, 2024	2.423	%	(3,778)		(1,778)
1-month USD LIBOR	200,000		200,000		December 13, 2017	January 1, 2018	December 31, 2024	2.313	%	(16,243)		(6,595)
1-month USD LIBOR	75,000		75,000		October 10, 2018	July 1, 2020	June 30, 2025	3.220	%	(9,836)		(5,750)
1-month USD LIBOR	75,000		75,000		October 10, 2018	July 1, 2020	June 30, 2025	3.199	%	(9,826)		(5,747)
1-month USD LIBOR	75,000		75,000		October 10, 2018	July 1, 2020	June 30, 2025	3.209	%	(9,783)		(5,807)
1-month USD LIBOR	100,000		100,000		December 18, 2018	December 30, 2022	December 31, 2027	2.885	%	(10,407)		(4,930)
1-month USD LIBOR	100,000		100,000		December 18, 2018	December 30, 2022	December 31, 2027	2.867	%	(10,431)		(4,691)
1-month USD LIBOR	125,000		—		December 15, 2020	July 31, 2025	December 31, 2027	1.415	%	(382)		—
1-month USD LIBOR	50,000		—		December 15, 2020	July 1, 2025	December 31, 2027	1.404	%	(162)		—
1-month USD LIBOR	225,000		—		December 15, 2020	July 31, 2025	December 31, 2027	1.415	%	(846)		—
1-month USD LIBOR	225,000		—		December 15, 2020	July 31, 2025	December 31, 2027	1.415	%	(679)		—
1-month USD LIBOR	75,000		—		December 15, 2020	July 1, 2025	December 31, 2027	1.404	%	(187)		—
Total interest rate derivatives designated as cash flow hedge	$	1,875,000	$	1,325,000						$	(93,769)	$	(45,145)

The Company has designated these derivative instruments as cash flow hedges. The Company assesses the effectiveness of these derivative instruments and has recorded the changes in the fair value of the derivative instrument designated as a cash flow hedge as unrealized gains or losses in accumulated other comprehensive loss (“AOCL”), net of tax, until the hedged item affected earnings, at which point any gain or loss was reclassified to earnings. If the hedged cash flow does not occur, or if it becomes probable that it will not occur, the Company will reclassify the remaining amount of any gain or loss on the related cash flow hedge recorded in AOCL to interest expense at that time.

Foreign Currency Hedging

From time to time the Company enters into foreign currency hedge contracts intended to protect the U.S. dollar value of certain forecasted foreign currency denominated transactions. The Company assesses the effectiveness of the contracts that are designated as hedging instruments. The changes in fair value of foreign currency cash flow hedges are recorded in AOCL, net of tax, until the hedged item affects earnings. Once the related hedged item affects earnings, the Company reclassifies amounts recorded in AOCL to earnings. If the hedged forecasted transaction does not occur, or if it becomes probable that it will not occur, the Company will reclassify the amount of any gain or loss on the related cash flow hedge to earnings at that time. For contracts not designated as hedging instruments, the changes in fair value of the contracts are recognized in other income, net in the consolidated statements of operation, along with the offsetting foreign currency gain or loss on the underlying assets or liabilities.

During the fourth quarter of 2020, the Company entered into foreign currency forward contracts, with a notional amount of $9.7 million to mitigate the foreign exchange risk related to certain intercompany loans denominated in Canadian Dollar ("CAD") and intercompany receivables denominated in Japanese Yen ("JPY"). The contracts are not designated as hedging instruments. The Company recognized a $0.2 million loss from the change in fair value of the contracts, which was included in other income, net in the consolidated statement of operations. The fair value of the foreign currency forward contracts was $0.2 million as of December 31, 2020.

The success of the Company’s hedging program depends, in part, on forecasts of certain activity denominated in foreign currency. The Company may experience unanticipated currency exchange gains or losses to the extent that there are differences

between forecasted and actual activities during periods of currency volatility. In addition, changes in currency exchange rates related to any unhedged transactions may affect earnings and cash flows.

Cross-Currency Rate Swaps

On October 2, 2017, the Company entered into cross currency swap agreements to convert a notional amount of $300.0 million equivalent to 291.2 million of Swiss francs ("CHF") denominated intercompany loans into U.S. dollars. The CHF denominated intercompany loans were the result of the purchase of intellectual property by a subsidiary in Switzerland as part of an acquisition.

On December 21, 2020, the Company entered into cross-currency swap agreements to convert a notional amount of $471.6 million equivalent to 420.1 million of a CHF denominated intercompany loan into U.S. dollars. The CHF denominated intercompany loan was the result of an intra-entity transfer of certain intellectual property rights to a subsidiary in Switzerland completed during the fourth quarter of 2020.

The objective of these cross-currency swaps is to reduce volatility of earnings and cash flows associated with changes in the foreign currency exchange rate. Under the terms of these contracts, which have been designated as cash flow hedges, the Company will make interest payments in Swiss Francs and receive interest in U.S. dollars. Upon the maturity of these contracts, the Company will pay the principal amount of the loans in Swiss Francs and receive U.S. dollars from the counterparties.

The Company held the following cross-currency rate swaps as of December 31, 2020 (dollar amounts in thousands):


						December 31, 2020
	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value (Liability)










Pay CHF	October 2, 2017	October 2, 2021	1.85%	CHF	48,533	(4,335)
Receive U.S.$			4.46%	$	50,000

Pay CHF	October 2, 2017	October 2, 2022	1.95%	CHF	145,598	(11,262)
Receive U.S.$			4.52%	$	150,000

Pay CHF	December 21, 2020	December 20, 2025	3.00%	CHF	420,137	(7,843)
Receive U.S.$			3.98%	$	471,640

Total						$	(23,441)

On October 2, 2020 in accordance with the termination date, the Company settled a cross-currency swap designated as a cash flow hedge of an intercompany loan with an aggregate notional amount of $33.3 million. As a result of the settlement, the Company recorded a loss of $0.3 million in other income, net in the consolidated statement of operations.

The Company held the following cross-currency rate swaps as of December 31, 2019 (dollar amounts in thousands):


						December 31, 2019
	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value (Liability)

Pay CHF	October 2, 2017	October 2, 2020	1.75%	CHF	32,355	$	(101)
Receive U.S.$			4.38%	$	33,333







Pay CHF	October 2, 2017	October 2, 2021	1.85%	CHF	48,533	(119)
Receive U.S.$			4.46%	$	50,000

Pay CHF	October 2, 2017	October 2, 2022	1.95%	CHF	145,598	(289)
Receive U.S.$			4.52%	$	150,000

Total						$	(509)

During the year ended December 31, 2019, the Company settled cross-currency swaps designated as cash flow hedges of an intercompany loan with an aggregate notional amount of $66.7 million. The original maturity dates were October 2, 2020 however, as the intercompany loan settlement was consummated, the cross-currency swap was settled simultaneously. As a result of the settlements, the Company recorded a loss of $0.4 million in other income, net in the consolidated statement of operations.

The cross-currency swaps are carried on the consolidated balance sheet at fair value, and changes in the fair values are recorded as unrealized gains or losses in AOCL. For the years ended December 31, 2020 and 2019, the Company recorded a loss of $21.7 million and loss of $4.0 million, respectively, in other income, net related to change in fair value related to the foreign currency rate translation to offset the gains or losses recognized on the intercompany loans.

For the years ended December 31, 2020 and 2019, the Company recorded a loss of $17.1 million and a gain of $9.3 million, respectively, in AOCL related to change in fair value of the cross-currency swaps.

For the years ended December 31, 2020 and 2019, the Company recorded gains of $5.8 million and $7.0 million, respectively, in other income, net included in the consolidated statements of operations related to the interest rate differential of the cross-currency swaps.

The estimated gain that is expected to be reclassified to other income, net from AOCL as of December 31, 2020 within the next twelve months is $3.3 million. As of December 31, 2020, the Company does not expect any gains or losses will be reclassified into earnings as a result of the discontinuance of these cash flow hedges because the original forecasted transaction will not occur.

Net Investment Hedges

The Company manages certain foreign exchange risks through a variety of strategies, including hedging. The Company is exposed to foreign exchange risk from its international operations through foreign currency purchases, net investments in foreign subsidiaries, and foreign currency assets and liabilities created in the normal course of business. On October 1, 2018 and December 16, 2020, the Company entered into cross-currency swap agreements designated as net investment hedges to partially offset the effects of foreign currency on foreign subsidiaries.

The Company held the following cross-currency rate swaps designated as net investment hedges as of December 31, 2020 (dollar amounts in thousands):


						December 31, 2020
	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value Asset (Liability)

Pay EUR	October 3, 2018	September 30, 2021	—	EUR	44,859	$	(1,884)
Receive U.S.$			3.01%	$	52,000

Pay EUR	October 3, 2018	September 30, 2023	—	EUR	51,760	(450)
Receive U.S.$			2.57%	$	60,000

Pay EUR	October 3, 2018	September 30, 2025	—	EUR	38,820	92
Receive U.S.$			2.19%	$	45,000







Pay CHF	December 16, 2020	December 16, 2027	—	CHF	222,300	(3,794)
Receive USD			1.10%	$	250,000

Total						$	(6,036)

During the year ended December 31, 2020, the Company settled cross-currency swaps designated as net investment hedge with an aggregate notional amount of $167.5 million and 128.3 million Pound Sterling respectively as a result of an intra-entity transfer of certain intellectual property rights to a subsidiary. The original settlement date was September 30, 2025. As a result of the settlement, the Company recorded a loss of $7.8 million in AOCL.

The Company held the following cross-currency rate swaps designated as net investment hedges as of December 31, 2019 (dollar amounts in thousands):


						December 31, 2019
	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value Asset (Liability)

Pay EUR	October 3, 2018	September 30, 2021	—	EUR	44,859	$	2,459
Receive U.S.$			3.01%	$	52,000

Pay EUR	October 3, 2018	September 30, 2023	—	EUR	51,760	3,087
Receive U.S.$			2.57%	$	60,000

Pay EUR	October 3, 2018	September 30, 2025	—	EUR	38,820	2,032
Receive U.S.$			2.19%	$	45,000

Pay GBP	October 3, 2018	September 30, 2025	1.67%	GBP	128,284	(154)
Receive U.S.$			2.71%	$	167,500

Pay CHF	October 3, 2018	September 30, 2025	—	CHF	165,172	1,221
Receive GBP			1.67%	GBP	128,284

Total						$	8,645

During the year ended December 31, 2019, the Company settled a cross-currency swap designated as a net-investment hedge of with an aggregate notional amount of $30.0 million. The original termination date was September 30, 2021. As a result of the settlement, the Company recorded a gain of $1.6 million in AOCL.

The cross-currency swaps were carried on the consolidated balance sheet at fair value and changes in the fair values were recorded as unrealized gains or losses in AOCL. For the year ended December 31, 2020 and 2019, the Company recorded a loss of $14.9 million and a gain of $20.5 million, respectively, in AOCL related to the change in fair value of the cross-currency swaps.

For the years ended December 31, 2020 and 2019, the Company recorded a gain of $7.6 million and $9.6 million, respectively, in interest income included in the consolidated statements of operations related to the interest rate differential of the cross-currency swaps.

The estimated gain that is expected to be reclassified to interest income from AOCL as of December 31, 2020 within the next twelve months is $3.4 million.

Counterparty Credit Risk

The Company manages its concentration of counterparty credit risk on its derivative instruments by limiting acceptable counterparties to a group of major financial institutions with investment grade credit ratings, and by actively monitoring their credit ratings and outstanding positions on an ongoing basis. Therefore, the Company considers the credit risk of the counterparties to be low. Furthermore, none of the Company’s derivative transactions are subject to collateral or other security arrangements, and none contain provisions that depend upon the Company’s credit ratings from any credit rating agency.

Fair Value of Derivative Instruments

The Company has classified all of its derivative instruments within Level 2 of the fair value hierarchy because observable inputs are available for substantially the full term of the derivative instruments. The fair values of the interest rate swaps and cross-currency swaps were developed using a market approach based on publicly available market yield curves and the terms of the swap. The Company performs ongoing assessments of counterparty credit risk.

The following table summarizes the fair value for derivatives designated as hedging instruments in the consolidated balance sheets as of December 31, 2020 and 2019:


	Fair Value as of December 31,
	2020		2019
Location on Balance Sheet (1):	(In thousands)
Derivatives designated as hedges — Assets:
Prepaid expenses and other current assets
Cash Flow Hedges
Interest rate swap(2)	$	—	$	12
Cross-currency swap	7,623		5,032
Net Investment Hedges
Cross-currency swap	5,297		7,952
Other assets
Cash Flow Hedges
Interest rate swap(2)	—		—

Net Investment Hedges
Cross-currency swap	—		3,465
Total Derivatives designated as hedges — Assets	$	12,920	$	16,461

Derivatives designated as hedges — Liabilities
Accrued expenses and other current liabilities
Cash Flow Hedges
Interest rate swap(2)	$	22,033	$	6,635
Cross-currency swap	4,335		101
Net Investment Hedges
Cross-currency swap	1,884		—
Other liabilities
Cash Flow Hedges
Interest rate swap(2)	71,736		38,522
Cross-currency swap	26,728		5,440
Net Investment Hedges
Cross-currency swap	9,449		2,772
Total Derivative designated as hedges — Liabilities	$	136,165	$	53,470

(1)The Company classifies derivative assets and liabilities as current based on the cash flows expected to be incurred within the following 12 months.

(2)At December 31, 2020 and 2019, the total notional amounts related to the Company’s interest rate swaps were $1.9 billion and $1.3 billion, respectively.

The following presents the effect of derivative instruments designated as cash flow hedges and net investment hedges on the accompanying consolidated statements of operations during the years ended December 31, 2020 and 2019:


	Balance in AOCL Beginning of Year		Amount of Gain (Loss) Recognized in AOCL		Amount of Gain (Loss) Reclassified from AOCL into Earnings		Balance in AOCL End of Year		Location in Statements of Operations
	(In thousands)
Year Ended December 31, 2020
Cash Flow Hedges
Interest rate swap	$	(45,145)	$	(64,778)	$	(16,154)	$	(93,769)	Interest expense
Cross-currency swap	177		(17,147)		(15,897)		(1,073)		Other income, net
Net Investment Hedges
Cross-currency swap	10,229		(14,911)		7,609		(12,291)		Interest income
	$	(34,739)	$	(96,836)	$	(24,442)	$	(107,133)
Year Ended December 31, 2019
Cash Flow Hedges
Interest rate swap	$	619	$	(43,493)	$	2,271	$	(45,145)	Interest expense
Cross-currency swap	(6,190)		9,334		2,967		177		Other income, net
Net Investment Hedges
Cross-currency swap	(632)		20,488		9,627		10,229		Interest income
	$	(6,203)	$	(13,671)	$	14,865	$	(34,739)

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The Company tests goodwill for impairment by either performing a qualitative evaluation or a quantitative test.

The qualitative evaluation is an assessment of factors including reporting unit specific operating results as well as industry, market and general economic conditions, to determine whether it is more likely than not that the fair values of a reporting unit is less than its carrying amount, including goodwill. The Company may elect to bypass the qualitative assessment for its three reporting units and perform a quantitative test. The assumptions used in evaluating goodwill for impairment are subject to change and are tracked against historical results by management.

The quantitative test estimates the fair value of its three reporting units using a discounted cash flow model, which incorporates significant estimates and assumptions made by management which, by their nature, are characterized by uncertainty. Inputs used to fair value the Company's reporting units are considered inputs of the fair value hierarchy. For Level 3 measurements, significant increases or decreases in long-term growth rates or discount rates in isolation or in combination could result in a significantly lower or higher fair value measurement. The key assumptions impacting the valuation included the following:

•The reporting unit's financial projections, which are based on management's assessment of regional and macroeconomic variables, industry trends and market opportunities, and the Company's strategic objectives and future growth plans.

•The projected terminal value for the reporting unit, which represents the present value of projected cash flows beyond the last period in the discounted cash flow analysis. The terminal value reflects the Company's assumptions related to long-term growth rates and profitability, which are based on several factors, including local and macroeconomic variables, market opportunities, and future growth plans.

•The discount rate used to measure the present value of the projected future cash flows is set using a weighted-average cost of capital method that considers market and industry data as well as the Company's specific risk factors that are

likely to be considered by a market participant. The weighted-average cost of capital is the Company's estimate of the overall after-tax rate of return required by equity and debt holders of a business enterprise.

The Company elected to perform a qualitative analysis for its three reporting units as of July 31, 2020. The Company determined, after performing qualitative analysis, that there was no evidence that it is more likely than not that the fair value of any identified reporting unit was less that the carrying amounts, therefore, it was not necessary to perform a quantitative impairment test.

Changes in the carrying amount of goodwill in 2020 and 2019 were as follows:


	Codman Specialty Surgical		Orthopedics and Tissue Technologies		Total
	(In thousands)



Goodwill at January 1, 2019	$	625,760	$	300,715	$	926,475
Arkis Acquisition	27,600		—		27,600
Foreign currency translation	140		65		205
Goodwill at December 31, 2019	$	653,500	$	300,780	$	954,280
Foreign currency translation	18,475		7,158		25,633
Transfer to assets held for sale (See Note 3. Assets Held for Sale)	$	—	$	(47,546)	$	(47,546)
Goodwill at December 31, 2020	$	671,975	$	260,392	$	932,367

Other Intangible Assets

The components of the Company's identifiable intangible assets were as follows:


	December 31, 2020
	Weighted Average Life	Cost		Accumulated Amortization		Net

	(Dollars in Thousands)
Completed technology	19 years	$	896,478	$	(248,088)	$	648,390
Customer relationships	12 years	213,270		(132,838)		80,432
Trademarks/brand names	28 years	104,209		(31,767)		72,442
Codman trade name	Indefinite	170,226		—		170,226
Supplier relationships	27 years	30,211		(15,203)		15,008
All other (1)	4 years	9,995		(7,057)		2,938
		$	1,424,389	$	(434,953)	$	989,436


	December 31, 2019
	Weighted Average Life	Cost		Accumulated Amortization		Net

	(Dollars in Thousands)
Completed technology	19 years	$	880,623	$	(213,702)	$	666,921
Customer relationships	12 years	222,575		(119,393)		103,182
Trademarks/brand names	28 years	103,873		(28,514)		75,359
Codman trade name	Indefinite	163,126		—		163,126
Supplier relationships	27 years	34,721		(17,947)		16,774
All other (1)	4 years	10,869		(4,640)		6,229
		$	1,415,787	$	(384,196)	$	1,031,591

(1)At December 31, 2020 and 2019, all other included IPR&D of $1.0 million, which was indefinite-lived. At December 31, 2020, this IPR&D asset was presented separately as "assets held for sale" in conjunction with the sale of the Extremity Orthopedics business which is expected to be sold within twelve months. See Note 3, Assets and Liabilities Held for Sale, for details.

At December 31, 2020, $13.3 million of Intangible assets, net were presented separately as "assets held for sale" in conjunction with the sale of the Extremity Orthopedics business. See Note 3, Assets and Liabilities Held for Sale.

The Company tests intangible assets with indefinite lives for impairment annually in the third quarter in accordance with ASC Topic 350. The Company elected to bypass the qualitative evaluation for its Codman tradename intangible asset and perform quantitative test during the third quarter of 2020. In performing the test, the Company utilized a range of projected sales growth rates, a royalty rate of 5.0%, a tax rate of 24.0% and a discount rate of 11.5%. The assumptions used in evaluating the Codman tradename for impairment are subject to change and are tracked against historical results by management. Based on the results of the quantitative test, the Company recorded no impairment to the Codman tradename intangible asset.

Product rights and other definite-lived intangible assets are tested periodically for impairment in accordance with ASC Topic 360 when events or changes in circumstances indicate that an asset's carrying value may not be recoverable. The impairment testing involves comparing the carrying amount of the asset or asset group to the forecasted undiscounted future cash flows. In the event the carrying value of the asset exceeds the undiscounted future cash flows, the carrying value is considered not recoverable and impairment exists. An impairment loss is measured as the excess of the asset's carrying value over its fair value, calculated using discounted future cash flows. The computed impairment loss is recognized in the period that the impairment occurs.

During the second quarter of 2019, a contract manufacturing customer of the private label product line received a notification from the FDA ordering them to remove their product from the market. The Company recorded an impairment charge of $5.8 million in intangible asset amortization in the consolidated statement of operations related to the customer relationship intangible asset acquired from TEI Biosciences, Inc. and TEI Medical Inc. (collectively "TEI") due to revised future projections based on the contract termination.

Amortization expense (including amounts reported in cost of product revenues) for the years ended December 31, 2020, 2019 and 2018 was $74.5 million, $72.8 million and $71.6 million, respectively. Annual amortization expense is expected to approximate $63.8 million in 2021, $61.4 million in 2022, $60.7 million in 2023, $60.2 million in 2024, $60.2 million in 2025 and $512.3 million thereafter. Amortization of product technology based intangible assets totaled $46.7 million, $45.8 million and $50.4 million for the years ended December 31, 2020, 2019 and 2018, respectively, and is presented by the Company within cost of goods sold.

TREASURY STOCK	12 Months Ended
TREASURY STOCK	Dec. 31, 2020
Equity [Abstract]
TREASURY STOCK	TREASURY STOCK As of December 31, 2020 and 2019, there were 4.9 million and 2.9 million shares of treasury stock outstanding with a cost of $235.1 million and $119.9 million, at a weighted average cost per share of $47.86 and $41.87, respectively. On December 7, 2020, the Board of Directors authorized the Company to repurchase up to $225 million of the Company’s common stock. The program allows the Company to repurchase its shares opportunistically from time to time. The repurchase authorization expires in December 2022. This stock repurchase authorization replaces the previous $225 million stock repurchase authorization, of which $125 million remained authorized at the time of its replacement, and which was otherwise set to expire on December 31, 2020. During the twelve months ended December 31, 2020, the Company repurchased 2.1 million shares of Integra’s common stock as part of the previous share repurchase authorization. The Company utilized $100.0 million of net proceeds from the offering of the Convertible Senior Notes to execute the share repurchase transactions. This included $7.6 million from certain purchasers of the convertible notes in conjunction with the closing of the offering. On February 5, 2020, the Company entered into a $92.4 million accelerated share repurchase ("ASR") to complete the remaining $100.0 million of share repurchase. The Company received 1.3 million shares at inception of the ASR, which represented approximately 80% of the expected total shares. Upon settlement of the ASR in June 2020, the Company received an additional 0.6 million shares determined using the volume-weighted average price of the Company's common stock during the term of the transaction.

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Stock-based compensation expense - all related to employees and members of the Board of Directors - recognized under the authoritative guidance was as follows:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Cost of goods sold	344		317		449
Research and development	1,471		1,785		1,609
Selling, general and administrative	$	17,776	$	19,153	$	18,721
Total stock-based compensation expense	19,591		21,255		20,779
Total estimated tax benefit related to stock-based compensation expense	6,221		9,420		10,430
Net effect on net income	$	13,370	$	11,835	$	10,349

EMPLOYEE STOCK PURCHASE PLAN

The purpose of the Employee Stock Purchase Plan (the “ESPP”) is to provide eligible employees of the Company with the opportunity to acquire shares of common stock at periodic intervals by means of accumulated payroll deductions. The ESPP is a non-compensatory plan. Under the ESPP, a total of 3.0 million shares of common stock are reserved for issuance. These shares will be made available either from the Company’s authorized but unissued shares of common stock or from shares of common stock reacquired by the Company as treasury stock. At December 31, 2020, 2.0 million shares remain available for purchase under the ESPP. During the years ended December 31, 2020, 2019 and 2018, the Company issued 18,284 shares, 12,531 shares and 16,721 shares under the ESPP for $1.1 million, $0.7 million and $0.7 million, respectively.

EQUITY AWARD PLANS

As of December 31, 2020, the Company had stock options, restricted stock awards, performance stock awards, contract stock awards and restricted stock unit awards outstanding under three plans, the 2000 Equity Incentive Plan (the “2000 Plan”), the 2001 Equity Incentive Plan (the “2001 Plan”), and the 2003 Equity Incentive Plan (the “2003 Plan,” and collectively, (the “Plans”)).

In May 2010 and May 2017, the stockholders of the Company approved amendments to the 2003 Plan to increase by 3.5 million and 1.7 million, respectively, the number of shares of common stock that may be issued under the 2003 Plan. The Company has reserved 4.0 million shares under each of the 2000 Plan and the 2001 Plan, and 14.7 million shares under the 2003 Plan. The Plans permit the Company to grant incentive and non-qualified stock options, stock appreciation rights, restricted stock, contract stock, performance stock, or dividend equivalent rights to designated directors, officers, employees and associates of the Company.

Stock options issued under the Plans become exercisable over specified periods, generally within four years from the date of grant for officers and employees, and within one year from the date of the grant for members of the Board of Directors. The awards generally expire eight years from the grant date for employees and from six to ten years for directors and certain executive officers. Restricted stock issued under the Plans vests ratably over specified periods, generally three years after the date of grant.

Stock Options

The Company values stock option grants using the binomial distribution model. Management believes that the binomial distribution model is preferable to the Black-Scholes model because it is a more flexible model that gives consideration to the impact of non-transferability and vesting provisions in valuing employee stock options.

In determining the value of stock options granted, the Company considered that it has never paid cash dividends and does not currently intend to pay cash dividends, and thus has assumed a 0% dividend yield. Expected volatilities are based on the historical volatility of the Company’s stock price. The expected life of stock options is estimated based on historical data on exercise of stock options, post-vesting forfeitures and other factors to estimate the expected term of the stock options granted. The risk-free interest rates are derived from the U.S. Treasury yield curve in effect on the date of grant for instruments with a remaining term similar to the expected life of the options. The Company accounts for forfeitures as they occur.

The following weighted-average assumptions were used in the calculation of fair value:


	Years Ended December 31,
	2020	2019	2018
Dividend yield	0%	0%	0%
Expected volatility	27%	28%	28%
Risk free interest rate	0.89%	2.51%	2.79%
Expected life of option from grant date	7 years	7 years	8 years
Weighted average grant date fair value of options granted	$13.03	$18.74	$21.78

The following table summarizes the Company’s stock option activity.


		Weighted Average Exercise Price		Weighted Average Contractual Term in Years	Aggregate Intrinsic Value

	Shares
Stock Options	(In thousands)				(In thousands)
Outstanding at January 1, 2020	1,284	$	34.83	—	—

Granted	349	43.39		—	—
Exercised	(236)	19.20		—	—
Forfeited or Expired	(51)	49.12		—	—
Outstanding at December 31, 2020	1,346	$	39.25	4.41	$	34,560

Exercisable at December 31, 2020	881,261	$	35.19	3.20	$	26,197

The Company recognized $3.2 million, $3.0 million and $2.6 million in expense related to stock options during the years ended December 31, 2020, 2019 and 2018, respectively. The intrinsic value of options exercised for the years ended December 31, 2020, 2019 and 2018 were $8.7 million, $14.6 million and $16.9 million, respectively. Cash received from option exercises and employee stock purchase plan was $5.2 million, $6.9 million and $9.4 million, for the years ended December 31, 2020, 2019 and 2018, respectively. The realized tax benefit from options exercised were $1.7 million, $3.0 million and $3.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.

As of December 31, 2020, there was approximately $5.1 million of total unrecognized compensation costs related to unvested stock options. These costs are expected to be recognized over a weighted-average period of approximately two years.

Awards of Restricted Stock, Performance Stock and Contract Stock

The following table summarizes the Company’s awards of restricted stock, performance stock and contract stock for the year ended December 31, 2020.



	Restricted Stock Awards			Performance Stock and Contract Stock Awards
	Shares	Weighted Average Grant Date Fair Value Per Share		Shares	Weighted Average Grant Date Fair Value Per Share


	(In thousands)			(In thousands)
Unvested, January 1, 2020	460	$	54.31	192	55.38


Granted	286	44.78		234	43.63
Adjustments for performance achievement related to award target	—	—		14	51.93
Cancellations	(42)	50.11		(31)	—

Released	(232)	52.07		(157)	43.48
Vested but not released	—	—		(55)	51.84
Unvested, December 31, 2020	472	$	50.02	197	47.66

The Company recognized $16.4 million, $18.1 million and $18.1 million in expense related to such awards during the years ended December 31, 2020, 2019 and 2018, respectively. The total fair market value of shares vested and released in 2020, 2019 and 2018 was $17.3 million, $21.1 million and $24.8 million, respectively. Vested awards include shares that have been fully earned but had not been delivered as of December 31, 2020.

Performance stock awards have performance features associated with them. Performance stock, restricted stock and contract stock awards generally have requisite service periods of three years. The fair value of these awards is being expensed on a straight-line basis over the vesting period.

As of December 31, 2020, there was approximately $22.6 million of total unrecognized compensation costs related to unvested restricted stock, performance stock and contract stock awards. These costs are expected to be recognized over a weighted-average period of approximately two years.

As of December 31, 2020, there were approximately 0.5 million vested Restricted Units and 0.1 million vested performance share units held by various employees for which the related shares have not yet been issued. The final determination of the number of shares to be issued is made by the Company's Compensation Committee of the Board of Directors which is is contingent upon achieving certain revenue and organic revenue growth performance metric.

At December 31, 2020, there were approximately 1.9 million shares available for grant under the Plans.

The Company capitalized into inventory, share based compensation costs of $0.4 million, $0.3 million and $0.4 million for the years ended December 31, 2020, 2019 and 2018, respectively. Such share-based compensation was recognized as cost of goods sold when related inventory was sold.

RETIREMENT BENEFIT PLANS

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

RETIREMENT BENEFIT PLANS

DEFINED BENEFIT PLANS

The Company has various defined benefit plans which covers certain employees in France, Japan, Germany and Switzerland.

Net periodic benefit costs for the Company’s defined benefit pension plans for the years ended December 31, 2020 and 2019 included the following (amounts in thousands):


	Year ended December 31,
	2020		2019
Service cost	$	4,029	$	3,815
Interest cost	219		517
Expected return on plan assets	(652)		(1,047)
Amortization of prior service cost (credit)	(274)		(259)
Recognized actuarial losses	787		65
Settlements	(102)		602
Net period benefit cost	$	4,007	$	3,693

The following weighted average assumptions were used to develop net periodic pension benefit costs and the actuarial present values of projected pension benefit obligations for the years ended December 31, 2020 and 2019, respectively:


	As of December 31,
	2020		2019
Discount rate	0.34	%	0.40	%
Expected return on plan assets	2.04	%	3.33	%
Rate of compensation increase	2.14	%	2.25	%
Interest crediting rate for cash balance plans	1.00	%	0.93	%

The Company’s discount rates are determined by considering current yield curves representing high quality, long-term fixed income instruments. The resulting discount rates are consistent with the duration of plan liabilities. In 2020 and 2019, the discount rates were prescribed as the current yield on corporate bonds with an average rating of AA or AAA of equivalent currency and term to the liabilities. The expected returns on plan assets represent the average rate of return expected to be earned on plan assets over the period the benefits included in the benefit obligation are to be paid. In developing the expected rates of return, the Company considers returns of historical market data as well as actual returns on the plan assets. Using this reference information, the long-term return expectations for each asset category are developed according to the allocation among those investment categories.

The assessment is determined using projections from external financial sources, long-term historical averages, actual returns by asset class and the various asset class allocations by market.

The following sets forth the change in projected benefit obligations and the change in plan assets for the years ended December 31, 2020 and 2019 and a reconciliation of the funded status at December 31, 2020 and 2019, respectively (amounts in thousands):


	Year ended December 31,
	2020		2019
Change In Projected Benefit Obligations
Projected benefit obligations, beginning of year	$	66,972	$	52,542
Interest cost	219		517
Service cost	4,029		3,815
Actuarial (gain) loss	(3,347)		12,188
Plan amendments	—		(3,133)
Plan settlements	(77)		(2,664)
Employee contribution	883		899
Premiums paid	(388)		(395)

Benefit payment	(1,537)		(635)
Plans transferred in	—		3,199
Effect of foreign currency exchange rates	6,115		639
Projected benefit obligations, end of year	$	72,869	$	66,972

	Year ended December 31,
	2020		2019
Change In Plan Assets
Plan assets at fair value, beginning of year	$	30,770	$	31,103
Actual return on plan assets	2,882		(152)
Employer contributions	2,274		2,189
Employee contributions	883		899
Plan settlements	(56)		(2,645)
Benefits paid	(1,537)		(635)
Premiums paid	(388)		(395)

Effect of foreign currency exchange rates	2,997		406
Plan assets at fair value, end of year	$	37,825	$	30,770


	Year ended December 31,
	2020		2019
Reconciliation Of Funded Status
Fair value of plan assets	$	37,825	$	30,770
Benefit obligations	72,869		66,972
Unfunded benefit obligations	$	35,044	$	36,202

The unfunded benefit obligations are included in other liabilities in the consolidated balance sheets at December 31, 2020 and 2019, respectively.

During the periods ended December 31, 2020 and 2019, the Company had a net gain of $4.6 million and a net loss of $9.0 million, respectively, recognized within accumulated other comprehensive loss that has not been recognized as a component of net periodic benefit cost. The gain recognized during the period ended December 31, 2020, is primarily attributed to a change in the discount rate used to estimate the projected benefit obligation for defined benefit plans which cover certain employees in Switzerland. The combined accumulated benefit obligations for the defined benefit plans was $61.5 million and $61.1 million as of December 31, 2020 and 2019, respectively.

Unrecognized gains and losses are amortized over the average remaining future service for each plan. For plans with no active employees, they are amortized over the average life expectancy. The amortization of gains and losses is determined by using a 10% corridor of the greater of the market value of assets or the accumulated benefit obligation. Total unamortized gains and losses in excess of the corridor are amortized over the average remaining future service.

Prior service costs/benefits for the pension plans are amortized over the average remaining future service of plan participants at the time of the plan amendment.

The net plan assets of the pension plans are invested in common trusts. Common trusts are classified as Level 2 in fair value hierarchy. The fair value of common trusts is valued at net asset value based on the fair values of the underlying investments of the trusts as determined by the sponsor of the trusts. The investment strategy of the Company's defined benefit plans is both to meet the liabilities of the plans as they fall due and to maximize the return on invested assets within appropriate risk profile.

The benefit plans in France and Germany had no assets at December 31, 2020.

As of December 31, 2020, no plan assets are expected to be returned to the Company in the next twelve months.

The following table is the summary of expected future benefit payments (in thousands):




2021	$	1,900
2022	$	1,626
2023	$	1,694
2024	$	1,789
2025	$	2,101
Next five years	$	10,429

As of December 31, 2020, contributions expected to be paid to the plan in 2021 is $2.3 million.

DEFINED CONTRIBUTION PLANS

The Company also has various defined contribution savings plans that cover substantially all employees in the United States, Belgium, Canada, France, Japan, Netherlands, the U.K. and Puerto Rico. The Company matches a certain percentage of each employee’s contributions as per the provisions of the plans. Total contributions by the Company to the plans were $6.7 million, $8.6 million and $8.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.

DEFERRED COMPENSATION PLAN

During the first quarter of 2020, employees participating in the Company's deferred compensation plan began to defer their compensation. This deferred compensation is invested in funds offered under this plan and is valued based on Level 1 measurements in the fair value hierarchy. Assets of the Company's deferred compensation plan are included in Other current assets and recorded at fair value based on their quoted market prices. The fair value of these assets at December 31, 2020 was $2.0 million. Offsetting liabilities relating to the deferred compensation plan are included in Other liabilities.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
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+ Details

LEASES AND RELATED PARTY LEASES

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

LEASES AND RELATED PARTY LEASES

The Company leases administrative, manufacturing, research and distribution facilities and vehicles through operating lease agreements. The Company has no finance leases as of December 31, 2020. Many of the Company's leases include both lease (e.g., fixed payments including rent) and non-lease components (e.g., common-area or other maintenance costs). For vehicles, the Company has elected the practical expedient to group lease and non-lease components.

Most facility leases include one or more options to renew. The exercise of lease renewal options is typically at the Company's sole discretion, therefore, the majority of renewals to extend the lease terms are not included in the ROU assets and lease liabilities as they are not reasonably certain of exercise. The Company regularly evaluates renewal options and when they are reasonably certain of exercise, the renewal period is included in the lease term.

As most of the Company's leases do not provide an implicit rate, the Company uses a collateralized incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments.

Total operating lease expense for the year ended December 31, 2020 and December 31, 2019, was $19.7 million and $19.6 million, respectively, which includes $0.3 million, in related party operating lease expense.

Supplemental balance sheet information related to operating leases at December 31, 2020 were as follows:


	December 31, 2020			December 31, 2019
	(In thousands, except lease term and discount rate)

ROU assets	$	83,635		$	94,530

Current lease liabilities	12,818			12,253
Non-current lease liabilities	88,118			97,504
Total lease liabilities	$	100,936		$	109,757

Weighted average remaining lease term (in years):

Leased facilities	11.6 years			12.8 years
Leased vehicles	2.3 years			2.6 years

Weighted average discount rate:
Leased facilities	4.6		%	5.4		%
Leased vehicles	2.3		%	3.2		%

Supplemental cash flow information related to leases was as follows for the year ended December 31, 2020 (in thousands):


	December 31, 2020		December 31, 2019
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	15,226	$	11,469

ROU assets obtained in exchange for lease liabilities:
Operating leases	6,027		41,423

Future minimum lease payments under operating leases at December 31, 2020 were as follows:


	Related Parties		Third Parties		Total
	(In thousands)
2021	296		13,458		13,754
2022	296		13,992		14,288
2023	296		11,054		11,350
2024	296		10,254		10,550
2025	296		9,645		9,941
Thereafter	1,130		77,784		78,914
Total minimum lease payments	$	2,610	$	136,187	$	138,797
Less: Imputed interest					$	37,861
Total lease liabilities					100,936
Less: Current lease liabilities					12,818
Long-term lease liabilities					88,118

There were no future minimum lease payments under finance leases at December 31, 2020.

Related Party Leases

The Company leases its manufacturing facility in Plainsboro, New Jersey, from a general partnership that is 50% owned by a corporation whose stockholders are trusts, whose beneficiaries include family members of the Company’s former director. The term of the current lease agreement is through October 31, 2029 at an annual rate of approximately $0.3 million per year. The current lease agreement also provides (i) a 5-year renewal option for the Company to extend the lease from November 1, 2029 through October 31, 2034 at the fair market rental rate of the premises, and (ii) another 5-year renewal option to extend the lease from November 1, 2034 through October 31, 2039 at the fair market rental rate of the premises.

INCOME TAXES

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

INCOME TAXES

Income (Loss) before income taxes consisted of the following:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
United States operations	$	15,082	$	(38,359)	$	(21,218)
Foreign operations	78,438		98,463		78,621
Total	$	93,520	$	60,104	$	57,403

The 2017 U.S. Tax Act was signed into law on December 22, 2017. The 2017 Tax Act made significant changes to the previous tax law, which included the reduction of the federal statutory rate from 35% to 21% and the recognition of a one-time repatriation tax on accumulated untaxed earnings of foreign subsidiaries. As of December 31, 2018, the Company finalized its calculations and completed its accounting for the income tax effect of the 2017 Tax Act, for which the finalization adjustments recognized during 2018 were not significant.

A number of these provisions continue to have an impact on our effective tax rate, including limitations on the deductibility of executive compensation and the elimination of certain tax deductions. Additionally, the implementation of a territorial tax system, which subjects certain foreign earnings to additional taxation as global intangible low-taxed income, continues to adversely affect income tax expense.

A reconciliation of the U.S. Federal statutory rate to the Company’s effective tax rate is as follows:


	Years Ended December 31,
	2020		2019		2018
Federal statutory rate	21.0	%	21.0	%	21.0	%
Increase (decrease) in income taxes resulting from:
State income taxes, net of federal tax benefit	1.2	%	1.0	%	(0.4)	%
Foreign operations	(7.9)	%	(20.0)	%	(21.8)	%

Excess tax benefits from stock compensation	(1.0)	%	(5.6)	%	(7.8)	%
Charitable contributions	(0.3)	%	(0.6)	%	(1.2)	%
Nondeductible meals and entertainment	0.4	%	1.5	%	1.6	%

Intercompany profit in inventory	1.2	%	1.2	%	6.2	%
Nondeductible facilitative costs	1.4	%	0.8	%	—	%
Changes in valuation allowances	0.1	%	0.2	%	0.2	%
Uncertain tax positions	0.5	%	0.2	%	0.4	%
Research and development credit	(1.6)	%	(2.9)	%	(2.6)	%
Return to provision	(2.3)	%	1.7	%	(2.9)	%
Global intangible low-taxed income ("GILTI")	2.5	%	7.6	%	3.5	%
Nondeductible executive compensation	2.4	%	3.0	%	1.6	%
Carryback of Federal net operating loss ("NOL")	—	%	0.1	%	(3.7)	%
Other	0.5	%	0.4	%	—	%
Swiss tax holiday	—	%	(15.7)	%	—	%
IPR&D expense	—	%	22.7	%	—	%
Foreign-Derived Intangible Income	(0.8)	%	—	%	—	%
Transfer of Intra-entity of certain intellectual property - Rate Differential on FMV Step-Up	(63.3)	%	—	%	—	%
Assets held for sale - Outside Basis Difference	2.8	%	—	%	—	%
Effective tax rate	(43.2)	%	16.5	%	(5.9)	%

Our effective tax rate was (43.2)% and 16.5% of income before income taxes for the years ended December 31, 2020 and December 31, 2019, respectively. In 2020, the Company’s lower worldwide effective tax rate, as compared to 2019, is primarily driven by an $59.2 million income tax benefit on an intra-entity transfer of certain intellectual property, substantially completed during the fourth quarter in 2020. Excluding this transaction, the effective worldwide tax rate for 2020 is 20.2%.

In December 2020, the Company completed an intra-entity transfer of certain intellectual property rights to one of its subsidiaries in Switzerland. While the transfer did not result in a taxable gain, the Company’s Swiss subsidiary received a step-up in tax basis based on the fair value of the transferred intellectual property rights. The Company determined the fair value using a discounted cash flow model based on expectations of revenue growth rates, royalty rates, discount rates, and useful lives of the intellectual property. The Company recorded a $59.2 million deferred tax benefit in Switzerland related to the amortizable tax basis in the transferred intellectual property.

During 2020, the Company’s foreign operations generated a $48.2 million decrease in income tax expense when compared to the same period in 2019, because of the intra-entity transfer of certain intellectual property, geographic and business mix of taxable earnings and losses, among other factors. The 2020 foreign effective tax rate is (57.1)%, compared to 3.5% in 2019. The Company’s foreign tax rate is primarily based upon statutory rates and is also impacted by the intra-entity transfer of certain intellectual property as described above.

During 2019, the Company's foreign operations generated a $5.7 million decrease in income tax expense when compared with 2018, because of geographic and business mix of taxable earnings and losses, among other factors. The 2019 foreign effective tax rate is 3.5%, compared to 11.6% in 2018. The Company's foreign tax rate is primarily based upon statutory rates and is also impacted by the tax holiday in Switzerland, described below.

During 2019, the Company finalized negotiations related to tax holidays in Switzerland, on a federal, cantonal, and communal level. The Company received a federal tax credit in Switzerland of $12.1 million ($0.14 per share), which may be used over a seven-year period, ending in 2024. The Company also received a reduction in its rate for the cantonal and communal level taxes during the third quarter of 2019, pursuant to tax reform in Switzerland.

The provision for income taxes consisted of the following:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Current:
Federal	$	6,184	$	14,597	$	(3,880)
State	5,029		3,447		1,609
Foreign	12,553		10,905		7,057
Total current	$	23,766	$	28,949	$	4,786
Deferred:
Federal	(5,079)		(10,889)		(7,202)
State	(1,760)		(666)		(3,048)
Foreign	(57,299)		(7,491)		2,066
Total deferred	$	(64,138)	$	(19,046)	$	(8,184)
Provision for income taxes	$	(40,372)	$	9,903	$	(3,398)

The income tax effects of significant temporary differences that give rise to deferred tax assets and liabilities, shown before jurisdictional netting, are presented below:


	December 31,
	2020		2019
	(In thousands)
Assets:
Doubtful accounts	$	2,207	$	2,426
Inventory related items	47,034		39,548
Tax credits	18,319		19,134
Accrued vacation	3,403		3,206
Accrued bonus	4,883		6,017
Stock compensation	6,160		8,347
Deferred revenue	1,665		1,805
Net operating loss carryforwards	29,335		37,418
Capitalization of research and development expenses	13,044		9,781
Unrealized foreign exchange loss	23,798		8,105
Charitable contributions carryforward	203		235

Leases and Other	23,205		12,496
Total deferred tax assets	173,256		148,518
Less valuation allowance	(9,897)		(9,865)
Deferred tax assets after valuation allowance	$	163,359	$	138,653
Liabilities:
Intangible and fixed assets	(90,274)		(150,879)
Leases and Other	(15,585)		(11,704)
Total deferred tax liabilities	$	(105,859)	$	(162,583)

Total net deferred tax assets (liabilities)	$	57,500	$	(23,930)

Prior period amounts were reclassified as it relates to Leases and Other between deferred tax asset and liabilities within this table to conform to the current period presentation.

At December 31, 2020, the Company had net operating loss carryforwards of $90.2 million for federal income tax purposes, $36.7 million for foreign income tax purposes and $41.6 million for state income tax purposes to offset future taxable income. The majority of the federal net operating loss carryforwards expire through 2037, while $11.8 million have an indefinite carry forward period. For foreign net operating loss carryforwards, $0.3 million expire through 2025, and the remaining $36.4 million have an indefinite carry forward period. The state net operating loss carryforwards expire through 2036.

The valuation allowance relates to deferred tax assets for certain items that will be deductible for income tax purposes under very limited circumstances and for which the Company believes it will not satisfy the more likely than not threshold for realization of the associated tax benefit. In the event that the Company determines that it would be able to realize more or less than the recorded amount of net deferred tax assets, an adjustment to the deferred tax asset valuation allowance would be recorded in the period such a determination is made.

The Company’s valuation allowance increased by less than $0.1 million, increased by $2.9 million and decreased by $1.0 million at December 31, 2020, 2019 and 2018, respectively. The 2020 valuation allowance primarily remained unchanged from the prior period.The 2019 overall increase in the valuation allowance primarily resulted from certain assets from the Rebound and Arkis acquisitions.

As of December 31, 2020, the Company has not provided deferred income taxes on unrepatriated earnings from foreign subsidiaries as they are deemed to be indefinitely reinvested. Such taxes would primarily be attributable to foreign withholding taxes and local income taxes when such earnings are distributed. As such, the Company has determined the tax impact of repatriating these earnings would not be material as of December 31, 2020.

A reconciliation of the beginning and ending amount of uncertain tax benefits is as follows:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Balance, beginning of year	$	676	$	676	$	424
Gross increases:
Current year tax positions	—		53		273
Prior years' tax positions	26		—		—
Gross decreases:


Statute of limitations lapses	—		—		(21)
Other	—		(53)		—
Balance, end of year	$	702	$	676	$	676

Approximately $0.7 million of the balance at December 31, 2020 relates to uncertain tax positions that, if recognized, would affect the annual effective tax rate. There are no amounts within the balance of uncertain tax positions at December 31, 2020 related to tax positions for which it is reasonably possible that the amounts could be reduced during the twelve months following December 31, 2020.

The Company recognizes interest and penalties relating to uncertain tax positions in income tax expense. The Company recognized a minimal benefit for the years ended December 31, 2020, 2019 and 2018. The Company had minimal interest and penalties accrued for the years ended December 31, 2020 and 2019 and 2018.

The Company files Federal income tax returns, as well as multiple state, local and foreign jurisdiction tax returns. The Company is no longer subject to examinations of its U.S. consolidated Federal income tax returns by the IRS through fiscal year 2016. All significant state and local matters have been concluded through fiscal 2015. All significant foreign matters have been settled through fiscal 2012.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

NET INCOME PER SHARE

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

NET INCOME PER SHARE

Basic and diluted net income per share was as follows:


	Years Ended December 31,
	2020		2019		2018
	(In thousands, except per share amounts)
Basic net income per share:
Net income	$	133,892	$	50,201	$	60,801

Weighted average common shares outstanding	84,650		85,637		82,857

Basic net income per common share	$	1.58	$	0.59	$	0.73

Diluted net income per share:
Net income	$	133,892	$	50,201	$	60,801

Weighted average common shares outstanding — Basic	84,650		85,637		82,857
Effect of dilutive securities:


Stock options and restricted stock	577		857		1,142
Weighted average common shares for diluted earnings per share	85,228		86,494		83,999
Diluted net income per common share	$	1.57	$	0.58	$	0.72

Common stock of approximately 0.3 million and 0.4 million shares at December 31, 2020, and 2019 that are issuable through exercise of dilutive securities, respectively, and were not included in the computation of diluted net income per share because their effect would have been anti-dilutive.

Performance Shares and Restricted Units that entitle the holders to approximately 0.5 million shares of common stock are included in the basic and diluted weighted average shares outstanding calculation from their date of issuance because no further consideration is due related to the issuance of the underlying common shares.

ACCUMULATED OTHER COMPREHENSIVE LOSS

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

Changes in accumulated other comprehensive loss by component between December 31, 2020 and 2019 are presented in the table below, net of tax:


	Gains and Losses on Derivatives		Defined Benefit Pension Items		Foreign Currency Items		Total
	(In thousands)
Balance at December 31, 2019	$	(26,625)	$	(9,709)	$	(40,068)	$	(76,402)
Other comprehensive gain (loss)	(74,394)		4,604		53,363		(16,427)
Less: Amounts reclassified from accumulated other comprehensive income, net	(18,770)		—		—		(18,770)

Net current-period other comprehensive gain (loss)	(55,624)		4,604		53,363		2,343
Balance at December 31, 2020	$	(82,249)	$	(5,105)	$	13,295	$	(74,059)

For the year ended December 31, 2020, the Company reclassified a loss of $12.2 million and $6.6 million from accumulated other comprehensive loss to other income, net and interest income, respectively.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

In consideration for certain technology, manufacturing, distribution, and selling rights and licenses granted to the Company, the Company has agreed to pay royalties on sales of certain products that it sells. The royalty payments that the Company made under these agreements were not significant for any of the periods presented.

The Company is subject to various claims, lawsuits and proceedings in the ordinary course of the Company's business, including claims by current or former employees, distributors and competitors and with respect to its products and product liability claims, lawsuits and proceedings, some of which have been settled by the Company. In the opinion of management, such claims are either adequately covered by insurance or otherwise indemnified, or are not expected, individually or in the aggregate, to result in a material, adverse effect on the Company's financial condition. However, it is possible that the Company's results of operations, financial position and cash flows in a particular period could be materially affected by these contingencies.

The Company accrues for loss contingencies when it is deemed probable that a loss has been incurred and that loss is estimable. The amounts accrued are based on the full amount of the estimated loss before considering insurance proceeds and do not include an estimate for legal fees expected to be incurred in connection with the loss contingency. The Company consistently accrues legal fees expected to be incurred in connection with loss contingencies as those fees are incurred by outside counsel as a period cost.

Contingent Consideration

The Company determined the fair value of contingent consideration during the twelve-month period ended December 31, 2020 and 2019 to reflect the change in estimate, additions, payments, transfers and the time value of money during the period.

A reconciliation of the opening balances to the closing balances of these Level 3 measurements for the years ended December 31, 2020 and 2019 is as follows (in thousands):


Year Ended December 31, 2020	Contingent Consideration Liability Related to Acquisition of Arkis (See Note 5)				Contingent Consideration Liability Related to Acquisition of Derma Sciences		Location in Financial Statements
	Short-term		Long-term		Long-term
Balance as of January 1, 2020	$	—	$	14,210	$	230
Transfers from long-term to current portion	3,415		(3,415)		—
Loss from change in fair value of contingent consideration liabilities	—		951		—		Research and development
Balance as of December 31, 2020	$	3,415	$	11,746	$	230


Year Ended December 31, 2019	Contingent Consideration Related to Acquisition of Arkis (See Note 5)		Contingent Consideration Liability Related to Acquisition of Derma Sciences		Location in Financial Statements
	Long-term		Long-term
Balance as of January 1, 2019	$	—	$	230
Additions from acquisition of Arkis	13,100		—

Loss from change in fair value of contingent consideration liabilities	1,110		—		Research and development
Balance as of December 31, 2019	$	14,210	$	230

SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

The Company internally manages two global reportable segments and reports the results of its businesses to its chief operating decision maker. The two reportable segments and their activities are described below.

•The Codman Specialty Surgical segment includes (i) the Neurosurgery business, which sells a full line of products for neurosurgery and neuro critical care such as tissue ablation equipment, dural repair products, cerebral spinal fluid management devices, intracranial monitoring equipment, and cranial stabilization equipment and (ii) the Instruments business, which sells more than 40,000 instrument patterns and surgical and lighting products to hospitals, surgery centers, dental, podiatry, and veterinary offices.

•The Orthopedics and Tissue Technologies segment includes such offerings as skin and wound repair, bone and joint fixation implants in the upper and lower extremities, bone grafts, and nerve and tendon repair products.

The Corporate and other category includes (i) various executive, finance, human resource, information systems and legal functions, (ii) brand management, and (iii) share-based compensation costs.

The operating results of the various reportable segments as presented are not comparable to one another because (i) certain operating segments are more dependent than others on corporate functions for unallocated general and administrative and/or operational manufacturing functions, and (ii) the Company does not allocate certain manufacturing costs and general and administrative costs to the operating segment results. Net sales and profit by reportable segment for the years ended December 31, 2020, 2019 and 2018 are as follows:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Segment Net Sales
Codman Specialty Surgical	$	894,831	$	996,206	$	963,929
Orthopedics and Tissue Technologies	477,037		521,351		508,512
Total revenues	$	1,371,868	$	1,517,557	$	1,472,441
Segment Profit
Codman Specialty Surgical	$	356,657	$	395,019	$	363,336
Orthopedics and Tissue Technologies	159,630		144,638		149,510
Segment profit	516,287		539,657		512,846
Amortization	(27,757)		(27,028)		(21,160)
Corporate and other	(337,160)		(418,869)		(380,688)
Operating income	$	151,370	$	93,760	$	110,998

The Company does not allocate any assets to the reportable segments. No asset information is reported to the chief operating decision maker and disclosed in the financial information for each segment.

The Company attributes revenue to geographic areas based on the location of the customer. Total revenue, net and long-lived assets (tangible) by major geographic area are summarized below:


	United States*		Europe		Asia Pacific		Rest of the World		Consolidated
	(In thousands)
Total revenue, net:
2020	$	971,975	$	172,689	$	157,174	$	70,030	$	1,371,868
2019	1,077,379		197,468		157,391		85,319		1,517,557
2018	1,045,887		201,354		144,253		80,947		1,472,441
Total long-lived assets:
2020	$	324,893	$	38,812	$	13,121	$	5,577	$	382,403
2019	383,652		47,325		8,598		7,143		446,718

* Includes long-lived assets in Puerto Rico.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
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+ Details

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Sale of Extremity Orthopedics Business On January 4, 2021, upon the terms and conditions set forth in the Divestiture agreement (see Note 3, Assets and Liabilities Held for Sale), the Company completed its previously announced sale of its Extremity Orthopedics business to Smith & Nephew USD Limited. The Company received an aggregate purchase price of $240.0 million from Smith and Nephew and concurrently paid $41.5 million to CFO effectively terminating our licensing agreement (see Note 5, Acquisitions). The transaction included the sale of the Company's upper and lower Extremity Orthopedics product portfolio, including ankle and shoulder arthroplasty and hand and wrist product lines. ACell Inc. Acquisition On January 20, 2021, the Company acquired ACell, Inc. for an acquisition purchase price of $300 million. Under the terms of the definitive merger agreement, the Company paid the consideration for the merger as an upfront cash payment subject to a customary post-closing adjustment for certain working capital. The Company is also required to pay the former shareholders of ACell Inc. up to $100 million based upon achieving certain revenue-based performance milestones in 2022, 2023 and 2025. Equity Award Plans The 2000 and 2001 Equity Incentive Plans were terminated as of February 19, 2021, and no further awards may be issued under the plans.

SELECTED QUARTERLY INFORMATION - UNAUDITED

12 Months Ended

Dec. 31, 2020

Selected Quarterly Financial Information [Abstract]

SELECTED QUARTERLY INFORMATION - UNAUDITED


(In thousands, except per share data)

Quarter	Total revenue, net	Gross margin	Net income (loss)	Per Share - Basic (1)		Per Share - Diluted (1)
2020
First	354,324	220,848	9,180	$	0.11	$	0.11
Second	258,665	153,187	(369)	(0.00)		(0.00)
Third	370,232	235,421	32,337	0.38		0.38
Fourth	388,647	241,578	92,744	1.10		1.09
	1,371,868	851,034	133,892
2019
First	359,690	230,778	32,756	$	0.38	$	0.38
Second	383,645	239,974	29,736	0.35		0.34
Third	379,095	236,459	(27,610)	(0.32)		(0.32)
Fourth	395,127	245,665	15,319	0.18		0.18
	1,517,557	952,876	50,201

(1) Per common share amounts for the quarters and full years have been calculated separately. Accordingly, quarterly amounts do not necessarily add to the annual amount because of differences in the weighted average common shares outstanding during each period principally due to the effect of the Company’s issuing and repurchasing shares of its common stock during the year.

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS


	Balance at Beginning of Period		Charged to Costs and Expenses		Other			Deductions			Balance at End of Period
Description
	(In thousands)
Year ended December 31, 2020
Allowance for doubtful accounts	$	4,303	$	3,635	$	—		$	(1,499)	(1)	$	6,439
Deferred tax assets valuation allowance	12,069		1,617		—			139			13,825
Year ended December 31, 2019
Allowance for doubtful accounts	$	3,719	$	2,126	$	—		$	(1,542)	(1)	$	4,303
Deferred tax assets valuation allowance	6,973		3,848		1,291		(3)	(43)			12,069
Year ended December 31, 2018
Allowance for doubtful accounts	$	8,882	$	557	$	(4,649)	(2)	$	(1,071)	(1)	$	3,719
Deferred tax assets valuation allowance	7,961		(894)		—			(94)			6,973

(1)Deductions primarily relates to allowance for doubtful accounts written off during the year, net of recoveries and other adjustments.

(2)The Company transferred sales returns and allowances from accounts receivable, net to accrued expenses and other current liabilities upon adopting Topic 606 on January 1, 2018 using the modified retrospective method.

(3)The above amount primarily relates to amounts acquired through the acquisition of Arkis and a charge recorded in 2019 to valuation allowance related to the non-deductibility of executive compensation.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis Of Presentation

BASIS OF PRESENTATION These financial statements and the accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America and conform to Regulation S-X under the Securities Exchange Act of 1934, as amended.

Principles Of Consolidation

PRINCIPLES OF CONSOLIDATION

Use Of Estimates

USE OF ESTIMATES The preparation of consolidated financial statements is in conformity with generally accepted accounting principles in the United States ("GAAP") which requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent liabilities, and the reported amounts of revenues and expenses. Significant estimates affecting amounts reported or disclosed in the consolidated financial statements include allowances for doubtful accounts receivable and sales returns and allowances, net realizable value of inventories, in-process research and development ("IPR&D"), valuation of intangible assets including amortization periods for acquired intangible assets, discount rates and estimated projected cash flows used to value and test impairments of long-lived assets and goodwill, estimates of projected cash flows and depreciation and amortization periods for long-lived assets, computation of taxes, valuation allowances recorded against deferred tax assets, the valuation of stock-based compensation, valuation of derivative instruments, valuation of the equity component of convertible debt instruments, valuation of contingent liabilities, the fair value of debt instruments and loss contingencies. These estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the current circumstances. Actual results could differ from these estimates.

Reclassifications

RECLASSIFICATIONS

Certain amounts from the prior year's financial statements have been reclassified in order to conform to the current year's presentation.

Cash And Cash Equivalents

CASH AND CASH EQUIVALENTS

Trade Accounts Receivable And Allowances For Doubtful Accounts Receivable

TRADE ACCOUNTS RECEIVABLE AND ALLOWANCES FOR DOUBTFUL ACCOUNTS RECEIVABLE

Inventories

INVENTORIES


	December 31,
	2020		2019
	(In thousands)
Finished goods	$	180,301	$	201,870
Work in process	53,336		48,333
Raw materials	76,480		65,851

Total inventories, net	$	310,117	$	316,054

Property, Plant And Equipment

PROPERTY, PLANT AND EQUIPMENT

Capitalized Interest

CAPITALIZED INTERESTThe interest cost on capital projects, including facilities build-out and internal use software, is capitalized and included in the cost of the project. Capitalization commences with the first expenditure for the project and continues until the project is substantially complete and ready for its intended use. When no debt is incurred specifically for a project, interest is capitalized on project expenditures using the weighted average cost of the Company's outstanding borrowings.

Acquisitions

ACQUISITIONS

Goodwill And Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

The Company has two reportable segments with three underlying reporting units. Refer to Note 17, Segment and Geographic Information for more information on reportable segments.

Long-Lived Assets

LONG-LIVED ASSETS Long-lived assets held and used by the Company, including property, plant and equipment, intangible assets, and leases are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets to be held and used, a recoverability test is performed using projected undiscounted net cash flows applicable to the long-lived assets. If an impairment exists, the amount of such impairment is calculated based on the estimated fair value of the asset. Impairments to long-lived assets to be disposed of are recorded based upon the difference between the carrying value and the fair value of the applicable assets.

Integra Foundation

INTEGRA FOUNDATION The Company may periodically make contributions to the Integra Foundation, Inc. The Integra Foundation was incorporated in 2002 exclusively for charitable, educational, and scientific purposes and qualifies under IRC 501(c)(3) as an exempt private foundation. Under its charter, the Integra Foundation engages in activities that promote health, the diagnosis and treatment of disease, and the development of medical science through grants, contributions and other appropriate means. The Integra Foundation is a separate legal entity and is not a subsidiary of the Company; therefore, its results are not included in these consolidated financial statements.

Derivatives

DERIVATIVES

Foreign Currency

FOREIGN CURRENCY All assets and liabilities of foreign subsidiaries which have a functional currency other than the U.S. dollar are translated at the rate of exchange at year-end, while elements of the income statement are translated at the average exchange rates in effect during the year. The net effect of these translation adjustments is shown as a component of accumulated other comprehensive income (loss). These currency translation adjustments are not currently adjusted for income taxes as they relate to permanent investments in non-U.S. subsidiaries.

Income Taxes

INCOME TAXES

Revenue Recognition

REVENUE RECOGNITION

Total revenue, net, includes product sales, product royalties and other revenues, such as fees received from services.

Performance Obligations

Significant Judgments

Contract Asset and Liability

Shipping and Handling FeesThe Company elected to account for shipping and handling activities as a fulfillment cost rather than a separate performance obligation. Amounts billed to customers for shipping and handling are included as part of the transaction price and recognized as revenue when control of underlying products is transferred to the customer. The related shipping and freight charges incurred by the Company are included in the cost of goods sold.

Research And Development

RESEARCH AND DEVELOPMENT Research and development costs, including salaries, depreciation, consultant and other external fees, and facility costs directly attributable to research and development activities, are expensed in the period in which they are incurred.

Employee Termination Benefits

EMPLOYEE TERMINATION BENEFITS

Stock-Based Compensation

STOCK-BASED COMPENSATION Relevant authoritative guidance requires companies to recognize the expense related to the fair value of their stock-based compensation awards. Stock-based compensation expense for stock option awards are based on the grant date fair value using the binomial distribution model. The Company recognizes compensation expense for stock option awards, restricted stock awards, performance stock awards and contract stock awards over the requisite service period of the award. All excess tax benefits and taxes and tax deficiencies from stock-based compensation are included in provision for income taxes in the consolidated statement of operations.

Pension Benefits

PENSION BENEFITS

Deferred Compensation Plan

Concentration Of Credit Risk

CONCENTRATION OF CREDIT RISK

Recent Accounting Pronouncements

RECENT ACCOUNTING PRONOUNCEMENTS

There are no other recently issued accounting pronouncements that are expected to have a significant effect on the Company's financial position, results of operations or cash flows.

Revenue Recognition and Shipping and Handling Fees

REVENUE RECOGNITION

Total revenue, net, includes product sales, product royalties and other revenues, such as fees received from services.

Performance Obligations

Significant Judgments

Contract Asset and Liability

Product Warranties

Taxes Collected from Customers

Taxes Collected from CustomersThe Company elected to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Inventories

Inventories consisted of the following:


	December 31,
	2020		2019
	(In thousands)
Finished goods	$	180,301	$	201,870
Work in process	53,336		48,333
Raw materials	76,480		65,851

Total inventories, net	$	310,117	$	316,054

Schedule of Property, Plant and Equipment Balances and Corresponding Lives

Property, plant and equipment balances and corresponding lives were as follows:


	December 31,
	2020		2019		Useful Lives
	(In thousands)
Land	$	1,541	$	1,476
Buildings and building improvements	17,345		16,262		5-40 years
Leasehold improvements	144,852		114,941		1-20 years
Machinery and production equipment	166,973		155,313		3-20 years
Surgical instrument kits	1,164		33,104		4-5 years
Information systems and hardware	143,770		138,398		1-7 years
Furniture, fixtures, and office equipment	20,843		22,145		1-15 years
Construction-in-progress	73,890		140,366
Total	570,378		622,005
Less: Accumulated depreciation	(282,849)		(284,601)

Property, plant and equipment, net	$	287,529	$	337,404

ASSETS AND LIABILITIES HELD FOR SALE (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Major Classes of Assets and Liabilities Held For Sale

The major classes of assets and liabilities classified as a held for sale consisted of the following as of December 31, 2020 (amounts in thousands):


Prepaid expenses and other current assets			713
Right of use asset - operating leases and Other assets			3,186
Deferred tax assets			6,589
Intangible assets, net			13,332
Property, plant and equipment, net			37,893
Goodwill			47,546
Inventories			52,845
Total assets held for sale			162,104
Other liabilities			336
Current portion of lease liability - operating leases			539
Accrued compensation			1,767
Deferred tax liabilities			3,440
Lease liability - operating leases			5,669
Total liabilities held for sale			11,751

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

REVENUES FROM CONTRACTS WITH CUSTOMERS (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Changes in Contract Assets and Contract Liabilities

The following table summarized the changes in the contract asset and liability balances for the year ended December 31, 2020:


		Total
	(amounts in thousands)
Contract Asset
Contract asset, January 1, 2020		$	8,680
Transferred to trade receivable of contract asset included in beginning of the year contract asset		(8,680)
Contract asset, net of transferred to trade receivables on contracts during the period		7,430
Contract asset, December 31, 2020		$	7,430

Contract Liability
Contract liability, January 1, 2020		$	11,946
Recognition of revenue included in beginning of year contract liability		(3,925)
Contract liability, net of revenue recognized on contracts during the period		3,856

Foreign currency translation		84
Contract liability, December 31, 2020		$	11,961

Schedule of Disaggregation of Revenue

The following table presents revenues disaggregated by the major sources of revenues for years-ended December 31, 2020, 2019 and 2018 (amounts in thousands):


	Year Ended December 31, 2020		Year Ended December 31, 2019		Year Ended December 31, 2018
	(amounts in thousands)
Neurosurgery	716,339		767,793		740,268
Instruments	178,492		$	228,413	$	223,661
Total Codman Specialty Surgical	894,831		996,206		963,929

Wound Reconstruction	293,038		322,739		311,565
Extremity Orthopedics	78,316		90,082		90,588
Private Label	105,683		108,530		106,359
Total Orthopedics and Tissue Technologies	477,037		521,351		508,512
Total revenue	$	1,371,868	$	1,517,557	$	1,472,441

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the final fair values of the assets acquired and liabilities assumed at the acquisition date:


	Final Valuation		Weighted Average Life
	(Dollars in thousands)
Cash	$	90
Other current assets	751
Property, plant and equipment	457
Deferred tax assets	1,697
Intangible assets:
CerebroFlo developed technology	20,100		15 years
Enabling technology license	1,980		14 years
Goodwill	27,153
Total assets acquired	52,228

Accounts payable, accrued expenses and other liabilities	2,926
Contingent consideration	13,100
Deferred tax liabilities	5,603
Net assets acquired	$	30,599

DEBT (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt Maximum Leverage Ratios


Fiscal Quarter						Maximum Consolidated Total Leverage Ratio


Execution of July 2020 Amendment through June 30, 2021						5.50 to 1.00
September 30, 2021 through June 30, 2022						5.00 to 1.00
September 30, 2022 through June 30, 2023						4.50 to 1.00
September 30, 2023 and the last day of each fiscal quarter thereafter						4.00 to 1.00

Schedule of Contractual Repayments of Debt

Contractual repayments of the Term Loan component of Senior Credit Facility are due as follows:


Year-ended December 31, 2020	Principal Repayment
	(In thousands)


2021	$	33,750
2022	45,000
2023	61,875
2024	67,500
2025	669,375
	$	877,500

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The Company held the following interest rate swaps as of December 31, 2020 and 2019 (dollar amounts in thousands):


	December 31, 2020		December 31, 2019							December 31, 2020		December 31, 2019
Hedged Item	Notional Amount				Designation Date	Effective Date	Termination Date	Fixed Interest Rate		Estimated Fair Value
										Asset (Liability)
3-month USD LIBOR	$	—	$	50,000	February 6, 2017	June 30, 2017	June 30, 2020	1.834	%	$	—	$	(2)
1-month USD LIBOR	—		100,000		February 6, 2017	June 30, 2017	June 30, 2020	1.652	%	—		12
1-month USD LIBOR	100,000		100,000		March 27, 2017	December 31, 2017	June 30, 2021	1.971	%	(929)		(581)
1-month USD LIBOR	150,000		150,000		December 13, 2017	January 1, 2018	December 31, 2022	2.201	%	(6,152)		(2,880)
1-month USD LIBOR	150,000		150,000		December 13, 2017	January 1, 2018	December 31, 2022	2.201	%	(6,405)		(2,880)
1-month USD LIBOR	100,000		100,000		December 13, 2017	July 1, 2019	June 30, 2024	2.423	%	(7,724)		(3,517)
1-month USD LIBOR	50,000		50,000		December 13, 2017	July 1, 2019	June 30, 2024	2.423	%	(3,778)		(1,778)
1-month USD LIBOR	200,000		200,000		December 13, 2017	January 1, 2018	December 31, 2024	2.313	%	(16,243)		(6,595)
1-month USD LIBOR	75,000		75,000		October 10, 2018	July 1, 2020	June 30, 2025	3.220	%	(9,836)		(5,750)
1-month USD LIBOR	75,000		75,000		October 10, 2018	July 1, 2020	June 30, 2025	3.199	%	(9,826)		(5,747)
1-month USD LIBOR	75,000		75,000		October 10, 2018	July 1, 2020	June 30, 2025	3.209	%	(9,783)		(5,807)
1-month USD LIBOR	100,000		100,000		December 18, 2018	December 30, 2022	December 31, 2027	2.885	%	(10,407)		(4,930)
1-month USD LIBOR	100,000		100,000		December 18, 2018	December 30, 2022	December 31, 2027	2.867	%	(10,431)		(4,691)
1-month USD LIBOR	125,000		—		December 15, 2020	July 31, 2025	December 31, 2027	1.415	%	(382)		—
1-month USD LIBOR	50,000		—		December 15, 2020	July 1, 2025	December 31, 2027	1.404	%	(162)		—
1-month USD LIBOR	225,000		—		December 15, 2020	July 31, 2025	December 31, 2027	1.415	%	(846)		—
1-month USD LIBOR	225,000		—		December 15, 2020	July 31, 2025	December 31, 2027	1.415	%	(679)		—
1-month USD LIBOR	75,000		—		December 15, 2020	July 1, 2025	December 31, 2027	1.404	%	(187)		—
Total interest rate derivatives designated as cash flow hedge	$	1,875,000	$	1,325,000						$	(93,769)	$	(45,145)

The Company held the following cross-currency rate swaps as of December 31, 2020 (dollar amounts in thousands):


						December 31, 2020
	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value (Liability)










Pay CHF	October 2, 2017	October 2, 2021	1.85%	CHF	48,533	(4,335)
Receive U.S.$			4.46%	$	50,000

Pay CHF	October 2, 2017	October 2, 2022	1.95%	CHF	145,598	(11,262)
Receive U.S.$			4.52%	$	150,000

Pay CHF	December 21, 2020	December 20, 2025	3.00%	CHF	420,137	(7,843)
Receive U.S.$			3.98%	$	471,640

Total						$	(23,441)

The Company held the following cross-currency rate swaps as of December 31, 2019 (dollar amounts in thousands):


						December 31, 2019
	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value (Liability)

Pay CHF	October 2, 2017	October 2, 2020	1.75%	CHF	32,355	$	(101)
Receive U.S.$			4.38%	$	33,333







Pay CHF	October 2, 2017	October 2, 2021	1.85%	CHF	48,533	(119)
Receive U.S.$			4.46%	$	50,000

Pay CHF	October 2, 2017	October 2, 2022	1.95%	CHF	145,598	(289)
Receive U.S.$			4.52%	$	150,000

Total						$	(509)

The Company held the following cross-currency rate swaps designated as net investment hedges as of December 31, 2020 (dollar amounts in thousands):


						December 31, 2020
	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value Asset (Liability)

Pay EUR	October 3, 2018	September 30, 2021	—	EUR	44,859	$	(1,884)
Receive U.S.$			3.01%	$	52,000

Pay EUR	October 3, 2018	September 30, 2023	—	EUR	51,760	(450)
Receive U.S.$			2.57%	$	60,000

Pay EUR	October 3, 2018	September 30, 2025	—	EUR	38,820	92
Receive U.S.$			2.19%	$	45,000







Pay CHF	December 16, 2020	December 16, 2027	—	CHF	222,300	(3,794)
Receive USD			1.10%	$	250,000

Total						$	(6,036)

The Company held the following cross-currency rate swaps designated as net investment hedges as of December 31, 2019 (dollar amounts in thousands):


						December 31, 2019
	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value Asset (Liability)

Pay EUR	October 3, 2018	September 30, 2021	—	EUR	44,859	$	2,459
Receive U.S.$			3.01%	$	52,000

Pay EUR	October 3, 2018	September 30, 2023	—	EUR	51,760	3,087
Receive U.S.$			2.57%	$	60,000

Pay EUR	October 3, 2018	September 30, 2025	—	EUR	38,820	2,032
Receive U.S.$			2.19%	$	45,000

Pay GBP	October 3, 2018	September 30, 2025	1.67%	GBP	128,284	(154)
Receive U.S.$			2.71%	$	167,500

Pay CHF	October 3, 2018	September 30, 2025	—	CHF	165,172	1,221
Receive GBP			1.67%	GBP	128,284

Total						$	8,645

Summary of Fair Value in Balance Sheet for Derivatives Designated as Hedging Instruments

The following table summarizes the fair value for derivatives designated as hedging instruments in the consolidated balance sheets as of December 31, 2020 and 2019:


	Fair Value as of December 31,
	2020		2019
Location on Balance Sheet (1):	(In thousands)
Derivatives designated as hedges — Assets:
Prepaid expenses and other current assets
Cash Flow Hedges
Interest rate swap(2)	$	—	$	12
Cross-currency swap	7,623		5,032
Net Investment Hedges
Cross-currency swap	5,297		7,952
Other assets
Cash Flow Hedges
Interest rate swap(2)	—		—

Net Investment Hedges
Cross-currency swap	—		3,465
Total Derivatives designated as hedges — Assets	$	12,920	$	16,461

Derivatives designated as hedges — Liabilities
Accrued expenses and other current liabilities
Cash Flow Hedges
Interest rate swap(2)	$	22,033	$	6,635
Cross-currency swap	4,335		101
Net Investment Hedges
Cross-currency swap	1,884		—
Other liabilities
Cash Flow Hedges
Interest rate swap(2)	71,736		38,522
Cross-currency swap	26,728		5,440
Net Investment Hedges
Cross-currency swap	9,449		2,772
Total Derivative designated as hedges — Liabilities	$	136,165	$	53,470

(1)The Company classifies derivative assets and liabilities as current based on the cash flows expected to be incurred within the following 12 months.

(2)At December 31, 2020 and 2019, the total notional amounts related to the Company’s interest rate swaps were $1.9 billion and $1.3 billion, respectively.

Effect of Derivative Instruments Designated as Cash Flow Hedges on Statements of Operations


	Balance in AOCL Beginning of Year		Amount of Gain (Loss) Recognized in AOCL		Amount of Gain (Loss) Reclassified from AOCL into Earnings		Balance in AOCL End of Year		Location in Statements of Operations
	(In thousands)
Year Ended December 31, 2020
Cash Flow Hedges
Interest rate swap	$	(45,145)	$	(64,778)	$	(16,154)	$	(93,769)	Interest expense
Cross-currency swap	177		(17,147)		(15,897)		(1,073)		Other income, net
Net Investment Hedges
Cross-currency swap	10,229		(14,911)		7,609		(12,291)		Interest income
	$	(34,739)	$	(96,836)	$	(24,442)	$	(107,133)
Year Ended December 31, 2019
Cash Flow Hedges
Interest rate swap	$	619	$	(43,493)	$	2,271	$	(45,145)	Interest expense
Cross-currency swap	(6,190)		9,334		2,967		177		Other income, net
Net Investment Hedges
Cross-currency swap	(632)		20,488		9,627		10,229		Interest income
	$	(6,203)	$	(13,671)	$	14,865	$	(34,739)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959

+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill in 2020 and 2019 were as follows:


	Codman Specialty Surgical		Orthopedics and Tissue Technologies		Total
	(In thousands)



Goodwill at January 1, 2019	$	625,760	$	300,715	$	926,475
Arkis Acquisition	27,600		—		27,600
Foreign currency translation	140		65		205
Goodwill at December 31, 2019	$	653,500	$	300,780	$	954,280
Foreign currency translation	18,475		7,158		25,633
Transfer to assets held for sale (See Note 3. Assets Held for Sale)	$	—	$	(47,546)	$	(47,546)
Goodwill at December 31, 2020	$	671,975	$	260,392	$	932,367

Schedule of Components of Indefinite-Lived Intangible Assets

The components of the Company's identifiable intangible assets were as follows:


	December 31, 2020
	Weighted Average Life	Cost		Accumulated Amortization		Net

	(Dollars in Thousands)
Completed technology	19 years	$	896,478	$	(248,088)	$	648,390
Customer relationships	12 years	213,270		(132,838)		80,432
Trademarks/brand names	28 years	104,209		(31,767)		72,442
Codman trade name	Indefinite	170,226		—		170,226
Supplier relationships	27 years	30,211		(15,203)		15,008
All other (1)	4 years	9,995		(7,057)		2,938
		$	1,424,389	$	(434,953)	$	989,436


	December 31, 2019
	Weighted Average Life	Cost		Accumulated Amortization		Net

	(Dollars in Thousands)
Completed technology	19 years	$	880,623	$	(213,702)	$	666,921
Customer relationships	12 years	222,575		(119,393)		103,182
Trademarks/brand names	28 years	103,873		(28,514)		75,359
Codman trade name	Indefinite	163,126		—		163,126
Supplier relationships	27 years	34,721		(17,947)		16,774
All other (1)	4 years	10,869		(4,640)		6,229
		$	1,415,787	$	(384,196)	$	1,031,591

Schedule of Components of Finite-Lived Intangible Assets

The components of the Company's identifiable intangible assets were as follows:


	December 31, 2020
	Weighted Average Life	Cost		Accumulated Amortization		Net

	(Dollars in Thousands)
Completed technology	19 years	$	896,478	$	(248,088)	$	648,390
Customer relationships	12 years	213,270		(132,838)		80,432
Trademarks/brand names	28 years	104,209		(31,767)		72,442
Codman trade name	Indefinite	170,226		—		170,226
Supplier relationships	27 years	30,211		(15,203)		15,008
All other (1)	4 years	9,995		(7,057)		2,938
		$	1,424,389	$	(434,953)	$	989,436


	December 31, 2019
	Weighted Average Life	Cost		Accumulated Amortization		Net

	(Dollars in Thousands)
Completed technology	19 years	$	880,623	$	(213,702)	$	666,921
Customer relationships	12 years	222,575		(119,393)		103,182
Trademarks/brand names	28 years	103,873		(28,514)		75,359
Codman trade name	Indefinite	163,126		—		163,126
Supplier relationships	27 years	34,721		(17,947)		16,774
All other (1)	4 years	10,869		(4,640)		6,229
		$	1,415,787	$	(384,196)	$	1,031,591

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary Of Employee Stock-Based Compensation Expense

Stock-based compensation expense - all related to employees and members of the Board of Directors - recognized under the authoritative guidance was as follows:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Cost of goods sold	344		317		449
Research and development	1,471		1,785		1,609
Selling, general and administrative	$	17,776	$	19,153	$	18,721
Total stock-based compensation expense	19,591		21,255		20,779
Total estimated tax benefit related to stock-based compensation expense	6,221		9,420		10,430
Net effect on net income	$	13,370	$	11,835	$	10,349

Summary Of Weighted-Average Assumptions

The following weighted-average assumptions were used in the calculation of fair value:


	Years Ended December 31,
	2020	2019	2018
Dividend yield	0%	0%	0%
Expected volatility	27%	28%	28%
Risk free interest rate	0.89%	2.51%	2.79%
Expected life of option from grant date	7 years	7 years	8 years
Weighted average grant date fair value of options granted	$13.03	$18.74	$21.78

Summary Of Stock Option Activity

The following table summarizes the Company’s stock option activity.


		Weighted Average Exercise Price		Weighted Average Contractual Term in Years	Aggregate Intrinsic Value

	Shares
Stock Options	(In thousands)				(In thousands)
Outstanding at January 1, 2020	1,284	$	34.83	—	—

Granted	349	43.39		—	—
Exercised	(236)	19.20		—	—
Forfeited or Expired	(51)	49.12		—	—
Outstanding at December 31, 2020	1,346	$	39.25	4.41	$	34,560

Exercisable at December 31, 2020	881,261	$	35.19	3.20	$	26,197

Summary Of Restricted Stock, Performance Stock, and Contract Stock Activity

The following table summarizes the Company’s awards of restricted stock, performance stock and contract stock for the year ended December 31, 2020.



	Restricted Stock Awards			Performance Stock and Contract Stock Awards
	Shares	Weighted Average Grant Date Fair Value Per Share		Shares	Weighted Average Grant Date Fair Value Per Share


	(In thousands)			(In thousands)
Unvested, January 1, 2020	460	$	54.31	192	55.38


Granted	286	44.78		234	43.63
Adjustments for performance achievement related to award target	—	—		14	51.93
Cancellations	(42)	50.11		(31)	—

Released	(232)	52.07		(157)	43.48
Vested but not released	—	—		(55)	51.84
Unvested, December 31, 2020	472	$	50.02	197	47.66

RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Schedule of Net Periodic Benefit Costs

Net periodic benefit costs for the Company’s defined benefit pension plans for the years ended December 31, 2020 and 2019 included the following (amounts in thousands):


	Year ended December 31,
	2020		2019
Service cost	$	4,029	$	3,815
Interest cost	219		517
Expected return on plan assets	(652)		(1,047)
Amortization of prior service cost (credit)	(274)		(259)
Recognized actuarial losses	787		65
Settlements	(102)		602
Net period benefit cost	$	4,007	$	3,693

Schedule of Weighted Average Assumptions Used


	As of December 31,
	2020		2019
Discount rate	0.34	%	0.40	%
Expected return on plan assets	2.04	%	3.33	%
Rate of compensation increase	2.14	%	2.25	%
Interest crediting rate for cash balance plans	1.00	%	0.93	%

Schedule of Benefit Obligations and Plan Assets


	Year ended December 31,
	2020		2019
Change In Projected Benefit Obligations
Projected benefit obligations, beginning of year	$	66,972	$	52,542
Interest cost	219		517
Service cost	4,029		3,815
Actuarial (gain) loss	(3,347)		12,188
Plan amendments	—		(3,133)
Plan settlements	(77)		(2,664)
Employee contribution	883		899
Premiums paid	(388)		(395)

Benefit payment	(1,537)		(635)
Plans transferred in	—		3,199
Effect of foreign currency exchange rates	6,115		639
Projected benefit obligations, end of year	$	72,869	$	66,972

	Year ended December 31,
	2020		2019
Change In Plan Assets
Plan assets at fair value, beginning of year	$	30,770	$	31,103
Actual return on plan assets	2,882		(152)
Employer contributions	2,274		2,189
Employee contributions	883		899
Plan settlements	(56)		(2,645)
Benefits paid	(1,537)		(635)
Premiums paid	(388)		(395)

Effect of foreign currency exchange rates	2,997		406
Plan assets at fair value, end of year	$	37,825	$	30,770

Schedule of Funded Status


	Year ended December 31,
	2020		2019
Reconciliation Of Funded Status
Fair value of plan assets	$	37,825	$	30,770
Benefit obligations	72,869		66,972
Unfunded benefit obligations	$	35,044	$	36,202

Schedule of Expected Benefit Payments

The following table is the summary of expected future benefit payments (in thousands):




2021	$	1,900
2022	$	1,626
2023	$	1,694
2024	$	1,789
2025	$	2,101
Next five years	$	10,429

LEASES AND RELATED PARTY LEASES (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Supplemental Balance Sheet Information

Supplemental balance sheet information related to operating leases at December 31, 2020 were as follows:


	December 31, 2020			December 31, 2019
	(In thousands, except lease term and discount rate)

ROU assets	$	83,635		$	94,530

Current lease liabilities	12,818			12,253
Non-current lease liabilities	88,118			97,504
Total lease liabilities	$	100,936		$	109,757

Weighted average remaining lease term (in years):

Leased facilities	11.6 years			12.8 years
Leased vehicles	2.3 years			2.6 years

Weighted average discount rate:
Leased facilities	4.6		%	5.4		%
Leased vehicles	2.3		%	3.2		%

Supplemental Cash Flow Information

Supplemental cash flow information related to leases was as follows for the year ended December 31, 2020 (in thousands):


	December 31, 2020		December 31, 2019
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	15,226	$	11,469

ROU assets obtained in exchange for lease liabilities:
Operating leases	6,027		41,423

Schedule of Operating Lease Maturities

Future minimum lease payments under operating leases at December 31, 2020 were as follows:


	Related Parties		Third Parties		Total
	(In thousands)
2021	296		13,458		13,754
2022	296		13,992		14,288
2023	296		11,054		11,350
2024	296		10,254		10,550
2025	296		9,645		9,941
Thereafter	1,130		77,784		78,914
Total minimum lease payments	$	2,610	$	136,187	$	138,797
Less: Imputed interest					$	37,861
Total lease liabilities					100,936
Less: Current lease liabilities					12,818
Long-term lease liabilities					88,118

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes

Income (Loss) before income taxes consisted of the following:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
United States operations	$	15,082	$	(38,359)	$	(21,218)
Foreign operations	78,438		98,463		78,621
Total	$	93,520	$	60,104	$	57,403

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. Federal statutory rate to the Company’s effective tax rate is as follows:


	Years Ended December 31,
	2020		2019		2018
Federal statutory rate	21.0	%	21.0	%	21.0	%
Increase (decrease) in income taxes resulting from:
State income taxes, net of federal tax benefit	1.2	%	1.0	%	(0.4)	%
Foreign operations	(7.9)	%	(20.0)	%	(21.8)	%

Excess tax benefits from stock compensation	(1.0)	%	(5.6)	%	(7.8)	%
Charitable contributions	(0.3)	%	(0.6)	%	(1.2)	%
Nondeductible meals and entertainment	0.4	%	1.5	%	1.6	%

Intercompany profit in inventory	1.2	%	1.2	%	6.2	%
Nondeductible facilitative costs	1.4	%	0.8	%	—	%
Changes in valuation allowances	0.1	%	0.2	%	0.2	%
Uncertain tax positions	0.5	%	0.2	%	0.4	%
Research and development credit	(1.6)	%	(2.9)	%	(2.6)	%
Return to provision	(2.3)	%	1.7	%	(2.9)	%
Global intangible low-taxed income ("GILTI")	2.5	%	7.6	%	3.5	%
Nondeductible executive compensation	2.4	%	3.0	%	1.6	%
Carryback of Federal net operating loss ("NOL")	—	%	0.1	%	(3.7)	%
Other	0.5	%	0.4	%	—	%
Swiss tax holiday	—	%	(15.7)	%	—	%
IPR&D expense	—	%	22.7	%	—	%
Foreign-Derived Intangible Income	(0.8)	%	—	%	—	%
Transfer of Intra-entity of certain intellectual property - Rate Differential on FMV Step-Up	(63.3)	%	—	%	—	%
Assets held for sale - Outside Basis Difference	2.8	%	—	%	—	%
Effective tax rate	(43.2)	%	16.5	%	(5.9)	%

Schedule of Provision for Income Taxes

The provision for income taxes consisted of the following:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Current:
Federal	$	6,184	$	14,597	$	(3,880)
State	5,029		3,447		1,609
Foreign	12,553		10,905		7,057
Total current	$	23,766	$	28,949	$	4,786
Deferred:
Federal	(5,079)		(10,889)		(7,202)
State	(1,760)		(666)		(3,048)
Foreign	(57,299)		(7,491)		2,066
Total deferred	$	(64,138)	$	(19,046)	$	(8,184)
Provision for income taxes	$	(40,372)	$	9,903	$	(3,398)

Schedule of Deferred Tax Assets and Liabilities

The income tax effects of significant temporary differences that give rise to deferred tax assets and liabilities, shown before jurisdictional netting, are presented below:


	December 31,
	2020		2019
	(In thousands)
Assets:
Doubtful accounts	$	2,207	$	2,426
Inventory related items	47,034		39,548
Tax credits	18,319		19,134
Accrued vacation	3,403		3,206
Accrued bonus	4,883		6,017
Stock compensation	6,160		8,347
Deferred revenue	1,665		1,805
Net operating loss carryforwards	29,335		37,418
Capitalization of research and development expenses	13,044		9,781
Unrealized foreign exchange loss	23,798		8,105
Charitable contributions carryforward	203		235

Leases and Other	23,205		12,496
Total deferred tax assets	173,256		148,518
Less valuation allowance	(9,897)		(9,865)
Deferred tax assets after valuation allowance	$	163,359	$	138,653
Liabilities:
Intangible and fixed assets	(90,274)		(150,879)
Leases and Other	(15,585)		(11,704)
Total deferred tax liabilities	$	(105,859)	$	(162,583)

Total net deferred tax assets (liabilities)	$	57,500	$	(23,930)

Schedule of Uncertain Tax Benefits Reconciliation

A reconciliation of the beginning and ending amount of uncertain tax benefits is as follows:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Balance, beginning of year	$	676	$	676	$	424
Gross increases:
Current year tax positions	—		53		273
Prior years' tax positions	26		—		—
Gross decreases:


Statute of limitations lapses	—		—		(21)
Other	—		(53)		—
Balance, end of year	$	702	$	676	$	676

NET INCOME PER SHARE (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Basic And Diluted Net Income Per Share

Basic and diluted net income per share was as follows:


	Years Ended December 31,
	2020		2019		2018
	(In thousands, except per share amounts)
Basic net income per share:
Net income	$	133,892	$	50,201	$	60,801

Weighted average common shares outstanding	84,650		85,637		82,857

Basic net income per common share	$	1.58	$	0.59	$	0.73

Diluted net income per share:
Net income	$	133,892	$	50,201	$	60,801

Weighted average common shares outstanding — Basic	84,650		85,637		82,857
Effect of dilutive securities:


Stock options and restricted stock	577		857		1,142
Weighted average common shares for diluted earnings per share	85,228		86,494		83,999
Diluted net income per common share	$	1.57	$	0.58	$	0.72

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component between December 31, 2020 and 2019 are presented in the table below, net of tax:


	Gains and Losses on Derivatives		Defined Benefit Pension Items		Foreign Currency Items		Total
	(In thousands)
Balance at December 31, 2019	$	(26,625)	$	(9,709)	$	(40,068)	$	(76,402)
Other comprehensive gain (loss)	(74,394)		4,604		53,363		(16,427)
Less: Amounts reclassified from accumulated other comprehensive income, net	(18,770)		—		—		(18,770)

Net current-period other comprehensive gain (loss)	(55,624)		4,604		53,363		2,343
Balance at December 31, 2020	$	(82,249)	$	(5,105)	$	13,295	$	(74,059)

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Contingent Consideration

A reconciliation of the opening balances to the closing balances of these Level 3 measurements for the years ended December 31, 2020 and 2019 is as follows (in thousands):


Year Ended December 31, 2020	Contingent Consideration Liability Related to Acquisition of Arkis (See Note 5)				Contingent Consideration Liability Related to Acquisition of Derma Sciences		Location in Financial Statements
	Short-term		Long-term		Long-term
Balance as of January 1, 2020	$	—	$	14,210	$	230
Transfers from long-term to current portion	3,415		(3,415)		—
Loss from change in fair value of contingent consideration liabilities	—		951		—		Research and development
Balance as of December 31, 2020	$	3,415	$	11,746	$	230


Year Ended December 31, 2019	Contingent Consideration Related to Acquisition of Arkis (See Note 5)		Contingent Consideration Liability Related to Acquisition of Derma Sciences		Location in Financial Statements
	Long-term		Long-term
Balance as of January 1, 2019	$	—	$	230
Additions from acquisition of Arkis	13,100		—

Loss from change in fair value of contingent consideration liabilities	1,110		—		Research and development
Balance as of December 31, 2019	$	14,210	$	230

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Net Sales and Profit, by Segment

Net sales and profit by reportable segment for the years ended December 31, 2020, 2019 and 2018 are as follows:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Segment Net Sales
Codman Specialty Surgical	$	894,831	$	996,206	$	963,929
Orthopedics and Tissue Technologies	477,037		521,351		508,512
Total revenues	$	1,371,868	$	1,517,557	$	1,472,441
Segment Profit
Codman Specialty Surgical	$	356,657	$	395,019	$	363,336
Orthopedics and Tissue Technologies	159,630		144,638		149,510
Segment profit	516,287		539,657		512,846
Amortization	(27,757)		(27,028)		(21,160)
Corporate and other	(337,160)		(418,869)		(380,688)
Operating income	$	151,370	$	93,760	$	110,998

Total revenue, net and long-lived assets (tangible) by major geographic area are summarized below:


	United States*		Europe		Asia Pacific		Rest of the World		Consolidated
	(In thousands)
Total revenue, net:
2020	$	971,975	$	172,689	$	157,174	$	70,030	$	1,371,868
2019	1,077,379		197,468		157,391		85,319		1,517,557
2018	1,045,887		201,354		144,253		80,947		1,472,441
Total long-lived assets:
2020	$	324,893	$	38,812	$	13,121	$	5,577	$	382,403
2019	383,652		47,325		8,598		7,143		446,718

* Includes long-lived assets in Puerto Rico.

Schedule of Geographic Revenue, by Area

Net sales and profit by reportable segment for the years ended December 31, 2020, 2019 and 2018 are as follows:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Segment Net Sales
Codman Specialty Surgical	$	894,831	$	996,206	$	963,929
Orthopedics and Tissue Technologies	477,037		521,351		508,512
Total revenues	$	1,371,868	$	1,517,557	$	1,472,441
Segment Profit
Codman Specialty Surgical	$	356,657	$	395,019	$	363,336
Orthopedics and Tissue Technologies	159,630		144,638		149,510
Segment profit	516,287		539,657		512,846
Amortization	(27,757)		(27,028)		(21,160)
Corporate and other	(337,160)		(418,869)		(380,688)
Operating income	$	151,370	$	93,760	$	110,998

Total revenue, net and long-lived assets (tangible) by major geographic area are summarized below:


	United States*		Europe		Asia Pacific		Rest of the World		Consolidated
	(In thousands)
Total revenue, net:
2020	$	971,975	$	172,689	$	157,174	$	70,030	$	1,371,868
2019	1,077,379		197,468		157,391		85,319		1,517,557
2018	1,045,887		201,354		144,253		80,947		1,472,441
Total long-lived assets:
2020	$	324,893	$	38,812	$	13,121	$	5,577	$	382,403
2019	383,652		47,325		8,598		7,143		446,718

* Includes long-lived assets in Puerto Rico.

SELECTED QUARTERLY INFORMATION - UNAUDITED (Tables)

12 Months Ended

Dec. 31, 2020

Selected Quarterly Financial Information [Abstract]

Summary of Selected Quarterly Information


(In thousands, except per share data)

Quarter	Total revenue, net	Gross margin	Net income (loss)	Per Share - Basic (1)		Per Share - Diluted (1)
2020
First	354,324	220,848	9,180	$	0.11	$	0.11
Second	258,665	153,187	(369)	(0.00)		(0.00)
Third	370,232	235,421	32,337	0.38		0.38
Fourth	388,647	241,578	92,744	1.10		1.09
	1,371,868	851,034	133,892
2019
First	359,690	230,778	32,756	$	0.38	$	0.38
Second	383,645	239,974	29,736	0.35		0.34
Third	379,095	236,459	(27,610)	(0.32)		(0.32)
Fourth	395,127	245,665	15,319	0.18		0.18
	1,517,557	952,876	50,201

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)		1 Months Ended	3 Months Ended		12 Months Ended
	Feb. 04, 2020 USD ($) $ / shares	May 31, 2019	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) Segment reporting_unit Customer	Dec. 31, 2019 USD ($) Customer	Dec. 31, 2018 USD ($) Customer	Jan. 01, 2019 USD ($)	Jan. 01, 2018 USD ($)	Dec. 31, 2017 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Provision for doubtful accounts					$ 3,600,000	$ 2,100,000	$ 600,000
Inventory, capitalized expenses					0	0
Depreciation expense					42,100,000	42,600,000	44,100,000
Write off of construction in progress			$ 6,700,000
Interest expense capitalized into property, plant, and equipment					$ 2,300,000	3,100,000
Number of reportable segments \| Segment					2
Number of reporting units \| reporting_unit					3
Contributions to Integra Foundation					$ 800,000	300,000	800,000
Foreign currency transaction loss					1,600,000	300,000	1,700,000
Increase to opening retained earnings			1,514,867,000	$ 1,416,736,000	1,514,867,000	1,416,736,000	1,375,796,000			$ 962,306,000
Increase to total assets			3,615,136,000	3,303,240,000	3,615,136,000	3,303,240,000
Increase to total liabilities			2,100,269,000	1,886,504,000	2,100,269,000	1,886,504,000
Restructuring costs			6,400,000		6,400,000
Defer payment and taxation, base salary, percentage (up to)		75.00%
Defer payment and taxation, bonus and other eligible cash compensation, percentage (up to)		100.00%
Lease liabilities			100,936,000	109,757,000	100,936,000	109,757,000
Right of use asset - operating leases			83,635,000	94,530,000	83,635,000	94,530,000
Interest paid					47,300,000	48,900,000	58,300,000
Interest paid, capitalized into construction in progress					2,300,000	3,100,000	2,300,000
Income taxes paid					29,800,000	16,200,000	10,400,000
In-process research and development					0	64,916,000	0
Property and equipment purchases included in liabilities					1,600,000	11,000,000.0	5,400,000
Cost of call transactions					104,248,000	0	0
Proceeds from warrant transactions					44,563,000	0	$ 0
Accounting Standards Update 2016-02
Summary Of Significant Accounting Policies [Line Items]
Lease liabilities								$ 76,400,000
Right of use asset - operating leases								$ 67,300,000
Cost of goods sold
Summary Of Significant Accounting Policies [Line Items]
Restructuring costs incurred					4,900,000
Selling, general and administrative
Summary Of Significant Accounting Policies [Line Items]
Restructuring costs incurred					1,200,000
Research and development
Summary Of Significant Accounting Policies [Line Items]
Restructuring costs incurred					300,000
Convertible Debt \| 2025 Notes
Summary Of Significant Accounting Policies [Line Items]
Debt, aggregate principal amount issued	$ 575,000,000.0		575,000,000.0		575,000,000.0
Debt, interest rate	0.50%
Debt, initial conversion rate	13.5739
Initial conversion price (in dollars per share) \| $ / shares	$ 73.67
Warrant strike price (in dollars per share) \| $ / shares	113.34
Convertible Debt \| 2025 Notes \| Call Option
Summary Of Significant Accounting Policies [Line Items]
Cost of call transactions					104,200,000
Proceeds from warrant transactions					44,500,000
Initial strike price (in dollars per share) \| $ / shares	$ 73.67
Rebound
Summary Of Significant Accounting Policies [Line Items]
Development milestone payment, to be paid			20,000,000.0	5,000,000.0	$ 20,000,000.0	5,000,000.0
In-process research and development				5,000,000.0		$ 5,000,000.0
Sales Revenue, Net
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, number of customers over benchmark \| Customer					0	0	0
Concentration risk, percentage					10.00%	10.00%	10.00%
Retained Earnings
Summary Of Significant Accounting Policies [Line Items]
Increase to opening retained earnings			532,266,000	398,574,000	$ 532,266,000	$ 398,574,000	$ 348,373,000			$ 285,186,000
Cumulative Effect, Period of Adoption, Adjustment
Summary Of Significant Accounting Policies [Line Items]
Increase to opening retained earnings				(200,000)		(200,000)
Increase to total assets									$ 7,100,000
Increase to total liabilities									5,200,000
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
Summary Of Significant Accounting Policies [Line Items]
Increase to opening retained earnings				$ (200,000)		$ (200,000)			$ 1,900,000
Minimum
Summary Of Significant Accounting Policies [Line Items]
Manufacturing period for products shipped with no alternative use and right of payment for performance					1 month
Maximum
Summary Of Significant Accounting Policies [Line Items]
Manufacturing period for products shipped with no alternative use and right of payment for performance					3 months
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Smith & Nephew USD Limited
Summary Of Significant Accounting Policies [Line Items]
Inventories			52,845,000		$ 52,845,000
Property, plant and equipment, net			$ 37,893,000		$ 37,893,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Inventories, Net) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Finished goods	$ 180,301	$ 201,870
Work in process	53,336	48,333
Raw materials	76,480	65,851
Total inventories, net	$ 310,117	$ 316,054

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Property, Plant and Equipment Balances and Corresponding Lives) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total	$ 570,378	$ 622,005
Less: Accumulated depreciation	(282,849)	(284,601)
Property, plant and equipment, net	287,529	337,404
Land
Property, Plant and Equipment [Line Items]
Total	1,541	1,476
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Total	$ 17,345	16,262
Buildings and building improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	5 years
Buildings and building improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	40 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total	$ 144,852	114,941
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	1 year
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	20 years
Machinery and production equipment
Property, Plant and Equipment [Line Items]
Total	$ 166,973	155,313
Machinery and production equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Machinery and production equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	20 years
Surgical instrument kits
Property, Plant and Equipment [Line Items]
Total	$ 1,164	33,104
Surgical instrument kits \| Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	4 years
Surgical instrument kits \| Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	5 years
Information systems and hardware
Property, Plant and Equipment [Line Items]
Total	$ 143,770	138,398
Information systems and hardware \| Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	1 year
Information systems and hardware \| Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Furniture, fixtures, and office equipment
Property, Plant and Equipment [Line Items]
Total	$ 20,843	22,145
Furniture, fixtures, and office equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	1 year
Furniture, fixtures, and office equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	15 years
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total	$ 73,890	$ 140,366

ASSETS AND LIABILITIES HELD FOR SALE - Narrative (Details) - Smith & Nephew USD Limited - Disposal Group, Disposed of by Sale, Not Discontinued Operations - Subsequent Event $ in Millions	Jan. 04, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale of Extremity Orthopedics business, disposition price	$ 240.0
Consortium of Focused Orthopedists, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale of Extremity Orthopedics business, payment for terminating license agreement	$ 41.5

ASSETS AND LIABILITIES HELD FOR SALE - Assets and Liabilities Held For Sale (Details) - Smith & Nephew USD Limited - Disposal Group, Disposed of by Sale, Not Discontinued Operations $ in Thousands	Dec. 31, 2020 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Prepaid expenses and other current assets	$ 713
Right of use asset - operating leases and Other assets	3,186
Deferred tax assets	6,589
Intangible assets, net	13,332
Property, plant and equipment, net	37,893
Goodwill	47,546
Inventories	52,845
Total assets held for sale	162,104
Other liabilities	336
Current portion of lease liability - operating leases	539
Accrued compensation	1,767
Deferred tax liabilities	3,440
Lease liability - operating leases	5,669
Total liabilities held for sale	$ 11,751

REVENUES FROM CONTRACTS WITH CUSTOMERS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Number of days from shipment to issue a credit on returned goods	90 days
Short-term portion of contract liability	$ 5,275	$ 4,772
Long-term portion of contract liability	$ 6,700
Product warranty period (up to)	2 years

REVENUES FROM CONTRACTS WITH CUSTOMERS (Narrative, Revenue Remaining Performance Obligation) (Details) $ in Millions	Dec. 31, 2020 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 5.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 2.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 1.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 0.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 0.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 0.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing

REVENUES FROM CONTRACTS WITH CUSTOMERS (Schedule of Changes in Contract Assets and Liabilities) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Contract Asset
Contract asset, Beginning of period	$ 8,680
Transferred to trade receivable of contract asset included in beginning of the year contract asset	(8,680)
Contract asset, net of transferred to trade receivables on contracts during the period	7,430
Contract asset, End of Period	7,430
Contract Liability
Contract liability, Beginning of Period	11,946
Recognition of revenue included in beginning of year contract liability	(3,925)
Contract liability, net of revenue recognized on contracts during the period	3,856
Foreign currency translation	84
Contract liability, End of Period	$ 11,961

REVENUES FROM CONTRACTS WITH CUSTOMERS (Schedule of Revenues Disaggregated by Major Source) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenue	$ 388,647	$ 370,232	$ 258,665	$ 354,324	$ 395,127	$ 379,095	$ 383,645	$ 359,690	$ 1,371,868	$ 1,517,557	$ 1,472,441
Codman Specialty Surgical
Disaggregation of Revenue [Line Items]
Total revenue									894,831	996,206	963,929
Codman Specialty Surgical \| Neurosurgery
Disaggregation of Revenue [Line Items]
Total revenue									716,339	767,793	740,268
Codman Specialty Surgical \| Instruments
Disaggregation of Revenue [Line Items]
Total revenue									178,492	228,413	223,661
Orthopedics and Tissue Technologies
Disaggregation of Revenue [Line Items]
Total revenue									477,037	521,351	508,512
Orthopedics and Tissue Technologies \| Wound Reconstruction
Disaggregation of Revenue [Line Items]
Total revenue									293,038	322,739	311,565
Orthopedics and Tissue Technologies \| Extremity Orthopedics
Disaggregation of Revenue [Line Items]
Total revenue									78,316	90,082	90,588
Orthopedics and Tissue Technologies \| Private Label
Disaggregation of Revenue [Line Items]
Total revenue									$ 105,683	$ 108,530	$ 106,359

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

ACQUISITIONS (Business Acquisition, Narrative) (Details) - Arkis - USD ($)	Jul. 29, 2019	Dec. 31, 2020
Business Acquisition [Line Items]
Purchase price of business combination	$ 30,600,000
Contingent consideration, liability	25,500,000
Contingent consideration, fair value	$ 13,100,000	$ 15,100,000
Acquired intangible assets, discount rate	14.50%
Accrued Expenses and Other Current Liabilities
Business Acquisition [Line Items]
Contingent consideration, fair value		3,400,000
Other Liabilities
Business Acquisition [Line Items]
Contingent consideration, fair value		$ 11,700,000
Milestone Payment One
Business Acquisition [Line Items]
Contingent consideration, liability	$ 10,000,000
Milestone Payment Two
Business Acquisition [Line Items]
Contingent consideration, liability	$ 15,500,000

ACQUISITIONS (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Jul. 29, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Intangible assets:
Goodwill		$ 932,367	$ 954,280	$ 926,475
Arkis
Business Acquisition [Line Items]
Cash	$ 90
Other current assets	751
Property, plant and equipment	457
Deferred tax assets	1,697
Intangible assets:
Goodwill	27,153
Total assets acquired	52,228
Accounts payable, accrued expenses and other liabilities	2,926
Contingent consideration	13,100	$ 15,100
Deferred tax liabilities	5,603
Net assets acquired	30,599
Arkis \| CerebroFlo developed technology
Intangible assets:
Intangible assets	$ 20,100
Weighted Average Life	15 years
Arkis \| Enabling technology license
Intangible assets:
Intangible assets	$ 1,980
Weighted Average Life	14 years

ACQUISITIONS (Asset Acquisition, Narrative) (Details)				3 Months Ended		12 Months Ended
ACQUISITIONS (Asset Acquisition, Narrative) (Details)	Jan. 04, 2021 USD ($)	Sep. 09, 2019 USD ($) asset	Jan. 04, 2019 USD ($) asset	Dec. 31, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Schedule Of Asset Acquisition [Line Items]
IPR&D expense						$ 0	$ 64,916,000	$ 0
Intangible asset				$ 1,031,591,000		989,436,000	1,031,591,000
Consortium of Focused Orthopedists, LLC \| Subsequent Event \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Smith & Nephew USD Limited
Schedule Of Asset Acquisition [Line Items]
Sale of Extremity Orthopedics business, payment for terminating license agreement	$ 41,500,000
Rebound
Schedule Of Asset Acquisition [Line Items]
Upfront payment		$ 67,100,000
Contingent development milestone payments commitment (up to)		$ 35,000,000.0
Number of assets acquired \| asset		1
Remaining net assets acquired		$ 7,200,000
Development milestone payment, to be paid				5,000,000.0		20,000,000.0	5,000,000.0
IPR&D expense				$ 5,000,000.0			$ 5,000,000.0
Intangible asset						$ 20,000,000.0
Rebound \| Cash and Cash Equivalents
Schedule Of Asset Acquisition [Line Items]
Remaining net assets acquired		2,100,000
Rebound \| Deferred Tax Asset
Schedule Of Asset Acquisition [Line Items]
Remaining net assets acquired		4,200,000
Rebound \| IPR&D
Schedule Of Asset Acquisition [Line Items]
Upfront payment		$ 59,900,000
ISC
Schedule Of Asset Acquisition [Line Items]
Research and development expense					$ 1,700,000
ISC \| Enabling technology license
Schedule Of Asset Acquisition [Line Items]
Number of assets acquired \| asset			1
Upfront payment, intangible assets			$ 1,700,000
Option to acquire, period subsequent to first commercial sale			4 years
Maximum future purchase price, if circumstances met (not to exceed)			$ 80,000,000.0

DEBT (Narrative) (Details)		3 Months Ended		12 Months Ended
DEBT (Narrative) (Details)	Feb. 04, 2020 USD ($) $ / shares	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 09, 2020 USD ($)	Feb. 03, 2020 USD ($)
Debt Instrument [Line Items]
Term loan component of senior credit facility, classified as current				$ 33,750,000	$ 45,000,000
Long-term convertible securities				474,834,000	0
Cost of call transactions				104,248,000	0	$ 0
Proceeds from warrant transactions				44,563,000	0	$ 0
Securitization facility, outstanding borrowings, maximum limit				$ 150,000,000.0
Securitization facility, term				3 years
Current portion of borrowings under securitization facility				$ 112,500,000	0
Long-term borrowings under securitization facility				$ 0	$ 104,500,000
Security facility, weighted average interest rate				1.30%	2.80%
Level 2
Debt Instrument [Line Items]
Securitization facility, fair value of amount outstanding				$ 112,300,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 1,300,000,000
Line of credit facility outstanding				$ 97,500,000	$ 375,000,000.0
Weighted average interest rate on debt				1.50%	3.20%
Revolving Credit Facility \| Level 2
Debt Instrument [Line Items]
Line of credit facility, fair value of amount outstanding				$ 98,400,000
Standby Letters of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity								60,000,000.0
Swingline Loan
Debt Instrument [Line Items]
Maximum borrowing capacity								60,000,000.0
Senior Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								2,200,000,000
Capitalized incremental financing costs								4,600,000
Previously capitalized financing costs, written-off			$ 1,200,000
Incremental financing cost expense		$ 3,300,000
Senior Credit Facility \| Minimum
Debt Instrument [Line Items]
Line of credit, commitment fee percentage				0.15%
Senior Credit Facility \| Maximum
Debt Instrument [Line Items]
Line of credit, commitment fee percentage				0.30%
Senior Credit Facility \| Eurodollar Rate \| Minimum
Debt Instrument [Line Items]
Interest rates available to the company at its option				1.00%
Senior Credit Facility \| Eurodollar Rate \| Maximum
Debt Instrument [Line Items]
Interest rates available to the company at its option				2.25%
Senior Credit Facility \| Overnight Federal Funds Rate
Debt Instrument [Line Items]
Interest rates available to the company at its option				0.50%
Senior Credit Facility \| One-Month Eurodollar Rate
Debt Instrument [Line Items]
Interest rates available to the company at its option				1.00%
Senior Credit Facility \| Standby Letters of Credit
Debt Instrument [Line Items]
Line of credit facility outstanding				$ 0
Letters of credit outstanding				1,600,000	$ 800,000
Term Loan Facility \| Secured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 877,500,000
Line of credit facility outstanding				$ 877,500,000	$ 877,500,000
Weighted average interest rate on debt				1.50%	3.20%
Term loan component of senior credit facility, classified as current				$ 33,800,000
Term Loan Facility \| Secured Debt \| Level 2
Debt Instrument [Line Items]
Line of credit facility, fair value of amount outstanding				883,600,000
2025 Notes \| Convertible Debt
Debt Instrument [Line Items]
Capitalized incremental financing costs	$ 13,200,000
Convertible notes, aggregate principal amount	$ 575,000,000.0			575,000,000.0
Convertible notes, interest rate	0.50%
Debt proceeds, classified as equity at time of offering	$ 104,500,000
Effective interest rate	4.20%
Long-term convertible securities				485,900,000
Unamortized discount				89,100,000
Fair value				638,100,000
Initial conversion rate	13.5739
Initial conversion price (in dollars per share) \| $ / shares	$ 73.67
Maximum selling price of the company's common stock of the conversion price	130.00%
Maximum average conversion value of notes	98.00%
Combination settlement for debt conversion, minimum settled in cash per principal amount							$ 1,000
Redemption price, percentage	100.00%
Warrant strike price (in dollars per share) \| $ / shares	$ 113.34
Cash interest				2,600,000
Amortization of discount				15,400,000
Interest expense				18,000,000.0
2025 Notes \| Convertible Debt \| Call Option
Debt Instrument [Line Items]
Cost of call transactions				104,200,000
Proceeds from warrant transactions				$ 44,500,000
Initial strike price (in dollars per share) \| $ / shares	$ 73.67

DEBT (Maximum Total Leverage Ratio Table) (Details) - Senior Credit Facility	Dec. 31, 2020
Execution of July 2020 Amendment through June 30, 2021
Debt Instrument [Line Items]
Debt Instrument, Covenant, Maximum Leverage Ratio	5.50
September 30, 2021 through June 30, 2022
Debt Instrument [Line Items]
Debt Instrument, Covenant, Maximum Leverage Ratio	5.00
September 30, 2022 through June 30, 2023
Debt Instrument [Line Items]
Debt Instrument, Covenant, Maximum Leverage Ratio	4.50
September 30, 2023 and the last day of each fiscal quarter thereafter
Debt Instrument [Line Items]
Debt Instrument, Covenant, Maximum Leverage Ratio	4.00

DEBT (Schedule of Debt Maturity) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Debt Disclosure [Abstract]
2021	$ 33,750
2022	45,000
2023	61,875
2024	67,500
2025	669,375
Principal Repayment	$ 877,500

DERIVATIVE INSTRUMENTS (Schedule of Interest Rate Swap Derivatives) (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Notional Amount	$ 1,875,000,000	$ 1,325,000,000
Estimated Fair Value	(93,769,000)	(45,145,000)
3-month USD LIBOR \| Interest Rate Swap Designated February 6, 2017 Tranche 1
Derivative [Line Items]
Notional Amount	$ 0	50,000,000
Fixed Interest Rate	1.834%
Estimated Fair Value	$ 0	(2,000)
1-month USD LIBOR \| Interest Rate Swap Designated February 6, 2017 Tranche 2
Derivative [Line Items]
Notional Amount	$ 0	100,000,000
Fixed Interest Rate	1.652%
Estimated Fair Value	$ 0	12,000
1-month USD LIBOR \| Interest Rate Swap Designated March 27, 2017
Derivative [Line Items]
Notional Amount	$ 100,000,000	100,000,000
Fixed Interest Rate	1.971%
Estimated Fair Value	$ (929,000)	(581,000)
1-month USD LIBOR \| Interest Rate Swap Designated December 13, 2017 Tranche 1
Derivative [Line Items]
Notional Amount	$ 150,000,000	150,000,000
Fixed Interest Rate	2.201%
Estimated Fair Value	$ (6,152,000)	(2,880,000)
1-month USD LIBOR \| Interest Rate Swap Designated December 13, 2017 Tranche 2
Derivative [Line Items]
Notional Amount	$ 150,000,000	150,000,000
Fixed Interest Rate	2.201%
Estimated Fair Value	$ (6,405,000)	(2,880,000)
1-month USD LIBOR \| Interest Rate Swap Designated December 13, 2017 Tranche 3
Derivative [Line Items]
Notional Amount	$ 100,000,000	100,000,000
Fixed Interest Rate	2.423%
Estimated Fair Value	$ (7,724,000)	(3,517,000)
1-month USD LIBOR \| Interest Rate Swap Designated December 13, 2017 Tranche 4
Derivative [Line Items]
Notional Amount	$ 50,000,000	50,000,000
Fixed Interest Rate	2.423%
Estimated Fair Value	$ (3,778,000)	(1,778,000)
1-month USD LIBOR \| Interest Rate Swap Designated December 13, 2017 Tranche 5
Derivative [Line Items]
Notional Amount	$ 200,000,000	200,000,000
Fixed Interest Rate	2.313%
Estimated Fair Value	$ (16,243,000)	(6,595,000)
1-month USD LIBOR \| Interest Rate Swap Designated October 10, 2018 Tranche 1
Derivative [Line Items]
Notional Amount	$ 75,000,000	75,000,000
Fixed Interest Rate	3.22%
Estimated Fair Value	$ (9,836,000)	(5,750,000)
1-month USD LIBOR \| Interest Rate Swap Designated October 10, 2018 Tranche 2
Derivative [Line Items]
Notional Amount	$ 75,000,000	75,000,000
Fixed Interest Rate	3.199%
Estimated Fair Value	$ (9,826,000)	(5,747,000)
1-month USD LIBOR \| Interest Rate Swap Designated October 10, 2018 Tranche 3
Derivative [Line Items]
Notional Amount	$ 75,000,000	75,000,000
Fixed Interest Rate	3.209%
Estimated Fair Value	$ (9,783,000)	(5,807,000)
1-month USD LIBOR \| Interest Rate Swap Designated December 18, 2018 Tranche 1
Derivative [Line Items]
Notional Amount	$ 100,000,000	100,000,000
Fixed Interest Rate	2.885%
Estimated Fair Value	$ (10,407,000)	(4,930,000)
1-month USD LIBOR \| Interest Rate Swap Designated December 18, 2018 Tranche 2
Derivative [Line Items]
Notional Amount	$ 100,000,000	100,000,000
Fixed Interest Rate	2.867%
Estimated Fair Value	$ (10,431,000)	(4,691,000)
1-month USD LIBOR \| Interest Rate Swap Designated December 15, 2020 Tranche 1
Derivative [Line Items]
Notional Amount	$ 125,000,000	0
Fixed Interest Rate	1.415%
Estimated Fair Value	$ (382,000)	0
1-month USD LIBOR \| Interest Rate Swap Designated December 15, 2020 Tranche 2
Derivative [Line Items]
Notional Amount	$ 50,000,000	0
Fixed Interest Rate	1.404%
Estimated Fair Value	$ (162,000)	0
1-month USD LIBOR \| Interest Rate Swap Designated December 15, 2020 Tranche 3
Derivative [Line Items]
Notional Amount	$ 225,000,000	0
Fixed Interest Rate	1.415%
Estimated Fair Value	$ (846,000)	0
1-month USD LIBOR \| Interest Rate Swap Designated December 15, 2020 Tranche 4
Derivative [Line Items]
Notional Amount	$ 225,000,000	0
Fixed Interest Rate	1.415%
Estimated Fair Value	$ (679,000)	0
1-month USD LIBOR \| Interest Rate Swap Designated December 15, 2020 Tranche 5
Derivative [Line Items]
Notional Amount	$ 75,000,000	0
Fixed Interest Rate	1.404%
Estimated Fair Value	$ (187,000)	$ 0

DERIVATIVE INSTRUMENTS (Narrative) (Details) £ in Millions, SFr in Millions		3 Months Ended	12 Months Ended
	Oct. 02, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020 GBP (£)	Dec. 21, 2020 USD ($)	Dec. 21, 2020 CHF (SFr)	Oct. 02, 2017 USD ($)	Oct. 02, 2017 CHF (SFr)
Derivative [Line Items]
Loss recorded in other income, net			$ 24,442,000	$ (14,865,000)	$ (13,400,000)
Gain (loss) recorded in AOCL, change in fair value			(96,837,000)	(13,671,000)	$ 11,709,000
Designated as Hedging Instrument
Derivative [Line Items]
Derivative fair value		$ 12,920,000	12,920,000	16,461,000
Gain (loss) recorded in AOCL, change in fair value			(96,836,000)	(13,671,000)
Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount		1,875,000,000	1,875,000,000	1,325,000,000
Foreign Currency Forward Contract \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount		9,700,000	9,700,000
Gain (loss) recognized in other income		(200,000)
Derivative fair value		200,000	200,000
Cross-Currency Interest Rate Swap
Derivative [Line Items]
Notional amount							$ 471,600,000	SFr 420.1
Gain (loss) recognized in other income			5,800,000	7,000,000.0
Loss recorded in other income, net			21,700,000	4,000,000.0
Gain (loss) recorded in AOCL, change in fair value			(17,100,000)	9,300,000
Amount estimated to be reclassified to earnings during next twelve months		3,300,000	3,300,000
Cross-Currency Interest Rate Swap \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount	$ 33,300,000			66,700,000
Loss recorded, settlement of derivative	$ 300,000			400,000
Cross-Currency Interest Rate Swap \| Net Investment Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount		167,500,000	167,500,000	30,000,000.0		£ 128.3
Gain (loss) recognized in other income			7,600,000	9,600,000
Loss recorded, settlement of derivative			7,800,000	1,600,000
Amount estimated to be reclassified to earnings during next twelve months		$ 3,400,000	3,400,000
Gain (loss) recorded, net investment hedge, change in fair value			$ (14,900,000)	$ 20,500,000
Cross-Currency Interest Rate Swap \| Short
Derivative [Line Items]
Notional amount									$ 300,000,000.0
Cross-Currency Interest Rate Swap \| Long
Derivative [Line Items]
Notional amount \| SFr										SFr 291.2

DERIVATIVE INSTRUMENTS (Schedule of Cross-Currency Swap Derivatives) (Details) SFr in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CHF (SFr)	Dec. 21, 2020 USD ($)	Dec. 21, 2020 CHF (SFr)	Oct. 02, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CHF (SFr)	Oct. 02, 2017 USD ($)	Oct. 02, 2017 CHF (SFr)
Cross-Currency Interest Rate Swap
Derivative [Line Items]
Aggregate Notional Amount			$ 471,600,000	SFr 420,100
Cross-Currency Interest Rate Swap \| Long
Derivative [Line Items]
Aggregate Notional Amount \| SFr									SFr 291,200
Cross-Currency Interest Rate Swap \| Short
Derivative [Line Items]
Aggregate Notional Amount								$ 300,000,000.0
Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	$ 1,875,000,000					$ 1,325,000,000
Fair Value (Liability)	(93,769,000)					(45,145,000)
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap
Derivative [Line Items]
Aggregate Notional Amount					$ 33,300,000	66,700,000
Fair Value (Liability)	(23,441,000)					(509,000)
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Swap One
Derivative [Line Items]
Fair Value (Liability)						(101,000)
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Swap Two
Derivative [Line Items]
Fair Value (Liability)	(4,335,000)					(119,000)
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Swap Three
Derivative [Line Items]
Fair Value (Liability)	(11,262,000)					$ (289,000)
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Swap, Four
Derivative [Line Items]
Fair Value (Liability)	$ (7,843,000)
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Long \| Swap One
Derivative [Line Items]
Fixed Rate						1.75%	1.75%
Aggregate Notional Amount \| SFr							SFr 32,355
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Long \| Swap Two
Derivative [Line Items]
Fixed Rate	1.85%	1.85%				1.85%	1.85%
Aggregate Notional Amount \| SFr		SFr 48,533					SFr 48,533
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Long \| Swap Three
Derivative [Line Items]
Fixed Rate	1.95%	1.95%				1.95%	1.95%
Aggregate Notional Amount \| SFr		SFr 145,598					SFr 145,598
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Long \| Swap, Four
Derivative [Line Items]
Fixed Rate	3.00%	3.00%
Aggregate Notional Amount \| SFr		SFr 420,137
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Short \| Swap One
Derivative [Line Items]
Fixed Rate						4.38%	4.38%
Aggregate Notional Amount						$ 33,333,000
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Short \| Swap Two
Derivative [Line Items]
Fixed Rate	4.46%	4.46%				4.46%	4.46%
Aggregate Notional Amount	$ 50,000,000					$ 50,000,000
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Short \| Swap Three
Derivative [Line Items]
Fixed Rate	4.52%	4.52%				4.52%	4.52%
Aggregate Notional Amount	$ 150,000,000					$ 150,000,000
Cash Flow Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap \| Short \| Swap, Four
Derivative [Line Items]
Fixed Rate	3.98%	3.98%
Aggregate Notional Amount	$ 471,640,000

DERIVATIVE INSTRUMENTS (Schedule of Net Investment Hedges Derivatives) (Details) € in Thousands, £ in Thousands, SFr in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CHF (SFr)	Dec. 31, 2020 EUR (€)	Dec. 31, 2020 GBP (£)	Dec. 21, 2020 USD ($)	Dec. 21, 2020 CHF (SFr)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CHF (SFr)	Dec. 31, 2019 EUR (€)	Dec. 31, 2019 GBP (£)	Oct. 02, 2017 USD ($)	Oct. 02, 2017 CHF (SFr)
Cross-Currency Interest Rate Swap
Derivative [Line Items]
Aggregate Notional Amount					$ 471,600,000	SFr 420,100
Cross-Currency Interest Rate Swap \| Long
Derivative [Line Items]
Aggregate Notional Amount \| SFr												SFr 291,200
Cross-Currency Interest Rate Swap \| Short
Derivative [Line Items]
Aggregate Notional Amount											$ 300,000,000.0
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap One
Derivative [Line Items]
Fair Value (Liability)	$ (1,884,000)						$ 2,459,000
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap One \| Long
Derivative [Line Items]
Fixed Interest Rate	0.00%	0.00%	0.00%	0.00%			0.00%	0.00%	0.00%	0.00%
Aggregate Notional Amount \| €			€ 44,859						€ 44,859
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap One \| Short
Derivative [Line Items]
Fixed Interest Rate	3.01%	3.01%	3.01%	3.01%			3.01%	3.01%	3.01%	3.01%
Aggregate Notional Amount	$ 52,000,000						$ 52,000,000
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Two
Derivative [Line Items]
Fair Value (Liability)	$ (450,000)						$ 3,087,000
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Two \| Long
Derivative [Line Items]
Fixed Interest Rate	0.00%	0.00%	0.00%	0.00%			0.00%	0.00%	0.00%	0.00%
Aggregate Notional Amount \| €			€ 51,760						€ 51,760
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Two \| Short
Derivative [Line Items]
Fixed Interest Rate	2.57%	2.57%	2.57%	2.57%			2.57%	2.57%	2.57%	2.57%
Aggregate Notional Amount	$ 60,000,000						$ 60,000,000
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Three
Derivative [Line Items]
Fair Value (Liability)	$ 92,000						$ 2,032,000
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Three \| Long
Derivative [Line Items]
Fixed Interest Rate	0.00%	0.00%	0.00%	0.00%			0.00%	0.00%	0.00%	0.00%
Aggregate Notional Amount \| €			€ 38,820						€ 38,820
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Three \| Short
Derivative [Line Items]
Fixed Interest Rate	2.19%	2.19%	2.19%	2.19%			2.19%	2.19%	2.19%	2.19%
Aggregate Notional Amount	$ 45,000,000						$ 45,000,000
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Four
Derivative [Line Items]
Fair Value (Liability)							$ (154,000)
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Four \| Long
Derivative [Line Items]
Fixed Interest Rate							1.67%	1.67%	1.67%	1.67%
Aggregate Notional Amount \| £										£ 128,284
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Four \| Short
Derivative [Line Items]
Fixed Interest Rate							2.71%	2.71%	2.71%	2.71%
Aggregate Notional Amount							$ 167,500,000
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Five
Derivative [Line Items]
Fair Value (Liability)							$ 1,221,000
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Five \| Long
Derivative [Line Items]
Fixed Interest Rate							0.00%	0.00%	0.00%	0.00%
Aggregate Notional Amount \| SFr								SFr 165,172
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap Five \| Short
Derivative [Line Items]
Fixed Interest Rate							1.67%	1.67%	1.67%	1.67%
Aggregate Notional Amount \| £										£ 128,284
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Contract Six
Derivative [Line Items]
Fair Value (Liability)	$ (3,794,000)
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Contract Six \| Long
Derivative [Line Items]
Fixed Interest Rate	0.00%	0.00%	0.00%	0.00%
Aggregate Notional Amount \| SFr		SFr 222,300
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Contract Six \| Short
Derivative [Line Items]
Fixed Interest Rate	1.10%	1.10%	1.10%	1.10%
Aggregate Notional Amount	$ 250,000,000
Net Investment Hedging \| Designated as Hedging Instrument \| Cross-Currency Interest Rate Swap
Derivative [Line Items]
Aggregate Notional Amount	167,500,000			£ 128,300			$ 30,000,000.0
Fair Value (Liability)	$ (6,036,000)						$ 8,645,000

DERIVATIVE INSTRUMENTS (Fair Value of Derivative Instruments By Balance Sheet Location) (Details) £ in Millions, SFr in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2020 GBP (£)	Dec. 21, 2020 USD ($)	Dec. 21, 2020 CHF (SFr)	Oct. 02, 2020 USD ($)	Dec. 31, 2019 USD ($)
Cross-currency swap
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount			$ 471,600,000	SFr 420.1
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total Derivatives designated as hedges — Assets	$ 12,920,000					$ 16,461,000
Total Derivative designated as hedges — Liabilities	136,165,000					53,470,000
Designated as Hedging Instrument \| Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	1,875,000,000					1,325,000,000
Designated as Hedging Instrument \| Interest rate swap
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	1,900,000,000					1,300,000,000
Designated as Hedging Instrument \| Interest rate swap \| Cash Flow Hedges \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Total Derivatives designated as hedges — Assets	0					12,000
Designated as Hedging Instrument \| Interest rate swap \| Cash Flow Hedges \| Other assets
Derivatives, Fair Value [Line Items]
Total Derivatives designated as hedges — Assets	0					0
Designated as Hedging Instrument \| Interest rate swap \| Cash Flow Hedges \| Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Total Derivative designated as hedges — Liabilities	22,033,000					6,635,000
Designated as Hedging Instrument \| Interest rate swap \| Cash Flow Hedges \| Other liabilities
Derivatives, Fair Value [Line Items]
Total Derivative designated as hedges — Liabilities	71,736,000					38,522,000
Designated as Hedging Instrument \| Cross-currency swap \| Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount					$ 33,300,000	66,700,000
Designated as Hedging Instrument \| Cross-currency swap \| Cash Flow Hedges \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Total Derivatives designated as hedges — Assets	7,623,000					5,032,000
Designated as Hedging Instrument \| Cross-currency swap \| Cash Flow Hedges \| Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Total Derivative designated as hedges — Liabilities	4,335,000					101,000
Designated as Hedging Instrument \| Cross-currency swap \| Cash Flow Hedges \| Other liabilities
Derivatives, Fair Value [Line Items]
Total Derivative designated as hedges — Liabilities	26,728,000					5,440,000
Designated as Hedging Instrument \| Cross-currency swap \| Net Investment Hedges
Derivatives, Fair Value [Line Items]
Aggregate Notional Amount	167,500,000	£ 128.3				30,000,000.0
Designated as Hedging Instrument \| Cross-currency swap \| Net Investment Hedges \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Total Derivatives designated as hedges — Assets	5,297,000					7,952,000
Designated as Hedging Instrument \| Cross-currency swap \| Net Investment Hedges \| Other assets
Derivatives, Fair Value [Line Items]
Total Derivatives designated as hedges — Assets	0					3,465,000
Designated as Hedging Instrument \| Cross-currency swap \| Net Investment Hedges \| Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Total Derivative designated as hedges — Liabilities	1,884,000					0
Designated as Hedging Instrument \| Cross-currency swap \| Net Investment Hedges \| Other liabilities
Derivatives, Fair Value [Line Items]
Total Derivative designated as hedges — Liabilities	$ 9,449,000					$ 2,772,000

DERIVATIVE INSTRUMENTS (Effect of Derivative Instruments Designated Cash Flow Hedges on Statements of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Roll Forward]
Balance, Beginning of Period	$ 1,416,736	$ 1,375,796	$ 962,306
Amount of Gain (Loss) Recognized in AOCL	(96,837)	(13,671)	11,709
Balance, End of Period	1,514,867	1,416,736	1,375,796
Accumulated Other Comprehensive Loss
Derivative Instruments, Gain (Loss) [Roll Forward]
Balance, Beginning of Period	(76,402)	(45,443)	(23,807)
Balance, End of Period	(74,059)	(76,402)	(45,443)
Cross-currency swap
Derivative Instruments, Gain (Loss) [Roll Forward]
Amount of Gain (Loss) Recognized in AOCL	(17,100)	9,300
Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Roll Forward]
Amount of Gain (Loss) Recognized in AOCL	(96,836)	(13,671)
Amount of Gain (Loss) Reclassified from AOCL into Earnings	(24,442)	14,865
Designated as Hedging Instrument \| Accumulated Other Comprehensive Loss
Derivative Instruments, Gain (Loss) [Roll Forward]
Balance, Beginning of Period	(34,739)	(6,203)
Balance, End of Period	(107,133)	(34,739)	(6,203)
Designated as Hedging Instrument \| Interest rate swap \| Interest expense \| Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Roll Forward]
Balance, Beginning of Period	(45,145)	619
Amount of Gain (Loss) Recognized in AOCL	(64,778)	(43,493)
Amount of Gain (Loss) Reclassified from AOCL into Earnings	(16,154)	2,271
Balance, End of Period	(93,769)	(45,145)	619
Designated as Hedging Instrument \| Cross-currency swap \| Other income, net \| Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Roll Forward]
Balance, Beginning of Period	177	(6,190)
Amount of Gain (Loss) Recognized in AOCL	(17,147)	9,334
Amount of Gain (Loss) Reclassified from AOCL into Earnings	(15,897)	2,967
Balance, End of Period	(1,073)	177	(6,190)
Designated as Hedging Instrument \| Cross-currency swap \| Interest income \| Net Investment Hedges
Derivative Instruments, Gain (Loss) [Roll Forward]
Balance, Beginning of Period	10,229	(632)
Amount of Gain (Loss) Recognized in AOCL	(14,911)	20,488
Amount of Gain (Loss) Reclassified from AOCL into Earnings	7,609	9,627
Balance, End of Period	$ (12,291)	$ 10,229	$ (632)

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details)	3 Months Ended		12 Months Ended
	Sep. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2020 USD ($) reporting_unit	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Goodwill [Line Items]
Number of reporting units \| reporting_unit			3
Impairment charge			$ 0	$ 5,764,000	$ 4,941,000
Amortization expense			74,500,000	72,800,000	71,600,000
Expected annual amortization expense, 2021			63,800,000
Expected annual amortization expense, 2022			61,400,000
Expected annual amortization expense, 2023			60,700,000
Expected annual amortization expense, 2024			60,200,000
Expected annual amortization expense, 2025			60,200,000
Expected annual amortization expense, thereafter			512,300,000
Amortization of product technology			$ 46,700,000	$ 45,800,000	$ 50,400,000
Codman
Goodwill [Line Items]
Impairment assessment, royalty rate	5.00%
Impairment assessment, tax rate	24.00%
Intangible assets, indefinite life, discount rate percentage	11.50%
Intangible assets, indefinite lives, impairment	$ 0
Contract Manufacturing Customer, Notified By FDA To Remove Product From Market \| Private Label \| Customer Relationships
Goodwill [Line Items]
Impairment charge		$ 5,800,000

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule of Changes in Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Beginning of period	$ 954,280	$ 926,475
Foreign currency translation	25,633	205
Transfer to assets held for sale (See Note 3. Assets Held for Sale)	(47,546)
End of period	932,367	954,280
Arkis
Goodwill [Roll Forward]
Arkis Acquisition		27,600
Codman Specialty Surgical
Goodwill [Roll Forward]
Beginning of period	653,500	625,760
Foreign currency translation	18,475	140
Transfer to assets held for sale (See Note 3. Assets Held for Sale)	0
End of period	671,975	653,500
Codman Specialty Surgical \| Arkis
Goodwill [Roll Forward]
Arkis Acquisition		27,600
Orthopedics and Tissue Technologies
Goodwill [Roll Forward]
Beginning of period	300,780	300,715
Foreign currency translation	7,158	65
Transfer to assets held for sale (See Note 3. Assets Held for Sale)	(47,546)
End of period	$ 260,392	300,780
Orthopedics and Tissue Technologies \| Arkis
Goodwill [Roll Forward]
Arkis Acquisition		$ 0

GOODWILL AND OTHER INTANGIBLE ASSETS (Components of Company's Identifiable Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 1,424,389	$ 1,415,787
Accumulated Amortization	(434,953)	(384,196)
Net	989,436	1,031,591
Codman trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	170,226	163,126
Net	170,226	163,126
IPR&D
Acquired Finite-Lived Intangible Assets [Line Items]
IPR&D, indefinite-lived, included in all other	$ 1,000	$ 1,000
Completed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	19 years	19 years
Cost	$ 896,478	$ 880,623
Accumulated Amortization	(248,088)	(213,702)
Net	$ 648,390	$ 666,921
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	12 years	12 years
Cost	$ 213,270	$ 222,575
Accumulated Amortization	(132,838)	(119,393)
Net	$ 80,432	$ 103,182
Trademarks/brand names
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	28 years	28 years
Cost	$ 104,209	$ 103,873
Accumulated Amortization	(31,767)	(28,514)
Net	$ 72,442	$ 75,359
Supplier relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	27 years	27 years
Cost	$ 30,211	$ 34,721
Accumulated Amortization	(15,203)	(17,947)
Net	$ 15,008	$ 16,774
All other
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	4 years	4 years
Cost	$ 9,995	$ 10,869
Accumulated Amortization	(7,057)	(4,640)
Net	$ 2,938	$ 6,229

TREASURY STOCK - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions		1 Months Ended	12 Months Ended
	Feb. 05, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 07, 2020	Dec. 06, 2020
Equity, Class of Treasury Stock [Line Items]
Treasury stock outstanding (in shares)			4.9	2.9
Treasury stock			$ 235,100,000	$ 119,900,000
Treasury stock, average cost per share (in dollars per share)			$ 47.86	$ 41.87
Stock repurchase program, authorized amount (up to)						$ 225,000,000	$ 225,000,000
Remaining amount under share repurchase							$ 125,000,000
Stock repurchased during period (in shares)	1.3	0.6	2.1
Net proceeds from offering of convertible senior notes			$ 575,000,000	$ 0	$ 0
Accelerated share repurchase program, payment	$ 92,400,000
Accelerated shares repurchased, amount	$ 100,000,000.0		100,000,000
Accelerated share repurchases, percentage of expected total repurchased	80.00%
Convertible Debt
Equity, Class of Treasury Stock [Line Items]
Net proceeds from offering of convertible senior notes			100,000,000.0
Convertible Debt \| Certain Purchasers
Equity, Class of Treasury Stock [Line Items]
Net proceeds from offering of convertible senior notes			$ 7,600,000

STOCK-BASED COMPENSATION (Summary of Employee Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 19,591	$ 21,255	$ 20,779
Total estimated tax benefit related to stock-based compensation expense	6,221	9,420	10,430
Net effect on net income	13,370	11,835	10,349
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	344	317	449
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,471	1,785	1,609
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 17,776	$ 19,153	$ 18,721

STOCK-BASED COMPENSATION (Narrative) (Details) $ in Thousands	1 Months Ended		12 Months Ended
	May 31, 2017 shares	May 31, 2010 shares	Dec. 31, 2020 USD ($) plan shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for purchase (in shares) \| shares			1,900,000
Number of stock-based compensation plans \| plan			3
Dividend yield			0.00%	0.00%	0.00%
Share-based compensation expense recognized			$ 19,591	$ 21,255	$ 20,779
Intrinsic value, options exercised			8,700	14,600	16,900
Cash received from option exercises and employee stock purchase plan			5,200	6,900	9,400
Tax benefit realized from stock options exercised			1,700	3,000	3,100
Capitalized share-based compensation cost			$ 400	$ 300	$ 400
2003 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares) \| shares			14,700,000
Increase in authorized shares (in shares) \| shares	1,700,000	3,500,000
2000 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares) \| shares			4,000,000.0
2001 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares) \| shares			4,000,000.0
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares) \| shares			3,000,000.0
Shares available for purchase (in shares) \| shares			2,000,000.0
Shares issued (in shares) \| shares			18,284	12,531	16,721
ESPP proceeds received			$ 1,100	$ 700	$ 700
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years
Share-based compensation expense recognized			$ 3,200	3,000	2,600
Total unrecognized compensation costs related to unvested awards			$ 5,100
Weighted-average period for cost recognition, in years			2 years
Employee Stock Option \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			1 year
Employee Stock Option \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period, in years			8 years
Employee Stock Option \| Directors and Certain Executive Officers \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period, in years			6 years
Employee Stock Option \| Directors and Certain Executive Officers \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period, in years			10 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Vested but not issued (in shares) \| shares			500,000
Restricted Stock, Performance Stock and Contract Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense recognized			$ 16,400	18,100	18,100
Total unrecognized compensation costs related to unvested awards			$ 22,600
Weighted-average period for cost recognition, in years			2 years
Fair value of shares vested			$ 17,300	$ 21,100	$ 24,800
Requisite service periods of performance stock, restricted stock and contract stock awards, in years			3 years
Performance Shares Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested but not issued (in shares) \| shares			100,000

STOCK-BASED COMPENSATION (Summary of Weighted-Average Assumptions) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Dividend yield	0.00%	0.00%	0.00%
Expected volatility	27.00%	28.00%	28.00%
Risk free interest rate	0.89%	2.51%	2.79%
Expected life of option from grant date	7 years	7 years	8 years
Weighted average grant date fair value of options granted (in dollars per share)	$ 13.03	$ 18.74	$ 21.78

STOCK-BASED COMPENSATION (Summary of Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of year (in shares)	1,284
Granted (in shares)	349
Exercised (in shares)	(236)
Forfeited or Expired (in shares)	(51)
Outstanding at end of year (in shares)	1,346
Exercisable at end of year (in shares)	881,261
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted Average Exercise Price, Outstanding at beginning of year (in dollars per share)	$ 34.83
Weighted Average Exercise Price, Granted (in dollars per share)	43.39
Weighted Average Exercise Price, Exercised (in dollars per share)	19.20
Weighted Average Exercise Price, Forfeited or Expired (in dollars per share)	49.12
Weighted Average Exercise Price, Outstanding at end of year (in dollars per share)	39.25
Weighted Average Exercise Price, Exercisable at end of year (in dollars per share)	$ 35.19
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures
Weighted Average Contractual Term in Years, Outstanding at end of year	4 years 4 months 28 days
Weighted Average Contractual Term in Years, Exercisable at end of year	3 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding	$ 34,560	$ 0
Aggregate Intrinsic Value, Exercisable at end of year	$ 26,197

STOCK-BASED COMPENSATION (Summary of Vested and Unvested Restricted Stock, Performance Stock, and Contract Stock) (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Restricted Stock Awards
Shares
Unvested at beginning of year (in shares) \| shares	460
Granted (in shares) \| shares	286
Cancellations (in shares) \| shares	(42)
Released (in shares) \| shares	(232)
Vested but not released (in shares) \| shares	0
Unvested at end of year (in shares) \| shares	472
Weighted Average Grant Date Fair Value Per Share
Unvested at beginning of year (in dollars per share) \| $ / shares	$ 54.31
Granted (in dollars per share) \| $ / shares	44.78
Cancellations (in dollars per share) \| $ / shares	50.11
Released (in dollars per share) \| $ / shares	52.07
Vested but not released (in dollars per share) \| $ / shares	0
Unvested at end of year (in dollars per share) \| $ / shares	$ 50.02
Performance Stock and Contract Stock Awards
Shares
Unvested at beginning of year (in shares) \| shares	192
Granted (in shares) \| shares	234
Adjustments for performance achievement related to award target (in shares) \| shares	14
Cancellations (in shares) \| shares	(31)
Released (in shares) \| shares	(157)
Vested but not released (in shares) \| shares	(55)
Unvested at end of year (in shares) \| shares	197
Weighted Average Grant Date Fair Value Per Share
Unvested at beginning of year (in dollars per share) \| $ / shares	$ 55.38
Granted (in dollars per share) \| $ / shares	43.63
Adjustments for performance achievement related to award target (in dollars per share) \| $ / shares	51.93
Cancellations (in dollars per share) \| $ / shares	0
Released (in dollars per share) \| $ / shares	43.48
Vested but not released (in dollars per share) \| $ / shares	51.84
Unvested at end of year (in dollars per share) \| $ / shares	$ 47.66

RETIREMENT BENEFIT PLANS (Schedule of Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Service cost	$ 4,029	$ 3,815
Interest cost	219	517
Expected return on plan assets	(652)	(1,047)
Amortization of prior service cost (credit)	(274)	(259)
Recognized actuarial losses	787	65
Settlements	(102)	602
Net period benefit cost	$ 4,007	$ 3,693

RETIREMENT BENEFIT PLANS (Schedule of Assumptions Used Periodic Benefit Cost and Actuarial Present Value) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Discount rate	0.34%	0.40%
Expected return on plan assets	2.04%	3.33%
Rate of compensation increase	2.14%	2.25%
Interest crediting rate for cash balance plans	1.00%	0.93%

RETIREMENT BENEFIT PLANS (Schedule of Change in Benefit Obligations and Plan Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Change In Projected Benefit Obligations
Projected benefit obligations, beginning of year	$ 66,972	$ 52,542
Interest cost	219	517
Service cost	4,029	3,815
Actuarial (gain) loss	(3,347)	12,188
Plan amendments	0	(3,133)
Plan settlements	(77)	(2,664)
Employee contribution	883	899
Premiums paid	(388)	(395)
Benefit payment	(1,537)	(635)
Plans transferred in	0	3,199
Effect of foreign currency exchange rates	6,115	639
Projected benefit obligations, end of year	72,869	66,972
Change In Plan Assets
Plan assets at fair value, beginning of year	30,770	31,103
Actual return on plan assets	2,882	(152)
Employer contributions	2,274	2,189
Employee contributions	883	899
Plan settlements	(56)	(2,645)
Benefits paid	(1,537)	(635)
Premiums paid	(388)	(395)
Effect of foreign currency exchange rates	2,997	406
Plan assets at fair value, end of year	$ 37,825	$ 30,770

RETIREMENT BENEFIT PLANS (Scheduled of Funded Status) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation Of Funded Status
Fair value of plan assets	$ 37,825	$ 30,770	$ 31,103
Benefit obligations	72,869	66,972	$ 52,542
Unfunded benefit obligations	$ 35,044	$ 36,202

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

RETIREMENT BENEFIT PLANS (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Gain (loss) recognized within accumulated other comprehensive loss	$ 4,600,000	$ (9,000,000.0)
Accumulated benefit obligation	61,500,000	61,100,000
Benefit plans, assets	37,825,000	30,770,000	$ 31,103,000
Plan assets expected to be returned next twelve months	0
Contributions expected to be paid to plan	2,300,000
Total contributions made	6,700,000	$ 8,600,000	$ 8,100,000
Deferred compensation plan, fair value of assets	2,000,000.0
Austria, France, and Germany
Defined Benefit Plan Disclosure [Line Items]
Benefit plans, assets	$ 0

- Definition

+ References + Details

RETIREMENT BENEFIT PLANS (Schedule of Expected Benefit Payments and Minimum Contribution on Unfunded Plans) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Retirement Benefits [Abstract]
2021	$ 1,900
2022	1,626
2023	1,694
2024	1,789
2025	2,101
Next five years	$ 10,429

LEASES AND RELATED PARTY LEASES - Narrative (Details)	12 Months Ended
LEASES AND RELATED PARTY LEASES - Narrative (Details)	Dec. 31, 2020 USD ($) renewal_option	Dec. 31, 2019 USD ($)
Operating Leased Assets [Line Items]
Number of renewal options (or more) \| renewal_option	1
Operating lease expense	$ 19,700,000	$ 19,600,000
Future minimum lease payments, finance leases	0
Affiliated Entity
Operating Leased Assets [Line Items]
Operating lease expense	$ 300,000	$ 300,000
Percent of manufacturing facility owned by corporation whose shareholders are trusts whose beneficiaries include family members of company's former director	50.00%
Annual rate of lease agreement	$ 300,000
Affiliated Entity \| Five Year Option Lease From November 1, 2029 Through October 31, 2034
Operating Leased Assets [Line Items]
Option to extend lease, years	5 years
Period for extended lease	November 1, 2029 through October 31, 2034
Affiliated Entity \| Five Year Option Lease From November 1, 2034 Through October 31, 2034
Operating Leased Assets [Line Items]
Option to extend lease, years	5 years
Period for extended lease	November 1, 2034 through October 31, 2039

LEASES AND RELATED PARTY LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
ROU assets	$ 83,635	$ 94,530
Current lease liabilities	12,818	12,253
Non-current lease liabilities	88,118	97,504
Total lease liabilities	$ 100,936	$ 109,757
Leased facilities
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term (in years)	11 years 7 months 6 days	12 years 9 months 18 days
Weighted average discount rate	4.60%	5.40%
Leased vehicles
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term (in years)	2 years 3 months 18 days	2 years 7 months 6 days
Weighted average discount rate	2.30%	3.20%

LEASES AND RELATED PARTY LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 15,226	$ 11,469
ROU assets obtained in exchange for lease liabilities:
Operating leases	$ 6,027	$ 41,423

LEASES AND RELATED PARTY LEASES - Future Minimum Lease Payment Under Operating Leases Current Period (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Leased Assets [Line Items]
2021	$ 13,754
2022	14,288
2023	11,350
2024	10,550
2025	9,941
Thereafter	78,914
Total minimum lease payments	138,797
Less: Imputed interest	37,861
Total lease liabilities	100,936	$ 109,757
Less: Current lease liabilities	12,818	12,253
Long-term lease liabilities	88,118	$ 97,504
Related Parties
Operating Leased Assets [Line Items]
2021	296
2022	296
2023	296
2024	296
2025	296
Thereafter	1,130
Total minimum lease payments	2,610
Third Parties
Operating Leased Assets [Line Items]
2021	13,458
2022	13,992
2023	11,054
2024	10,254
2025	9,645
Thereafter	77,784
Total minimum lease payments	$ 136,187

LEASES AND RELATED PARTY LEASES - Future Minimum Lease Payment Under Operating Leases Prior Period (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Leased Assets [Line Items]
2021	$ 13,754
2022	14,288
2023	11,350
2024	10,550
2025	9,941
Thereafter	78,914
Total minimum lease payments	138,797
Less: Imputed interest	37,861
Total lease liabilities	100,936	$ 109,757
Less: Current lease liabilities	12,818	12,253
Long-term lease liabilities	88,118	$ 97,504
Related Parties
Operating Leased Assets [Line Items]
2021	296
2022	296
2023	296
2024	296
2025	296
Thereafter	1,130
Total minimum lease payments	2,610
Third Parties
Operating Leased Assets [Line Items]
2021	13,458
2022	13,992
2023	11,054
2024	10,254
2025	9,645
Thereafter	77,784
Total minimum lease payments	$ 136,187

INCOME TAXES (Schedule of Income Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States operations	$ 15,082	$ (38,359)	$ (21,218)
Foreign operations	78,438	98,463	78,621
Income before income taxes	$ 93,520	$ 60,104	$ 57,403

INCOME TAXES (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
INCOME TAXES (Narrative) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax [Line Items]
Effective tax rate			(43.20%)	16.50%	(5.90%)
Income tax benefit, transfer intra-entity intellectual property, amount		$ 59,200,000
Effective worldwide tax rate			20.20%
Effective income tax rate reconciliation, foreign income tax rate differential, increase (decrease), amount			$ (48,200,000)	$ (5,700,000)
Effective foreign income tax rate			(57.10%)	3.50%	11.60%
Valuation allowance, period increase (decrease)			$ (100,000)	$ 2,900,000	$ (1,000,000.0)
Tax impact of repatriating foreign earnings			0
Unrecognized tax benefits that would impact effective tax rate	$ 700,000	700,000	700,000
Amount of unrecorded benefit reasonably possible to be recognized (less than)	0	0	0
Penalties and interest accrued	0	0	0	0	0
Penalties and interest expense			0	0	$ 0
Foreign Tax Authority
Income Tax [Line Items]
Operating loss carryforwards	36,700,000	36,700,000	36,700,000
Operating loss carryforwards, not subject to expiration	36,400,000	36,400,000	36,400,000
Foreign Tax Authority \| Expire Through 2025
Income Tax [Line Items]
Operating loss carryforwards, subject to expiration	300,000	300,000	300,000
Foreign Tax Authority \| Switzerland
Income Tax [Line Items]
Deferred income tax benefit, transfer intra-entity intellectual property, amount	59,200,000
Federal tax credit				$ 12,100,000
Federal tax credit (in dollars per share)				$ 0.14
Federal
Income Tax [Line Items]
Operating loss carryforwards	90,200,000	90,200,000	90,200,000
Operating loss carryforwards, not subject to expiration	11,800,000	11,800,000	11,800,000
State and Local Jurisdiction
Income Tax [Line Items]
Operating loss carryforwards	$ 41,600,000	$ 41,600,000	$ 41,600,000

INCOME TAXES (Schedule of Effective Tax Rate Reconciliation) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
Increase (decrease) in income taxes resulting from:
State income taxes, net of federal tax benefit	1.20%	1.00%	(0.40%)
Foreign operations	(7.90%)	(20.00%)	(21.80%)
Excess tax benefits from stock compensation	(1.00%)	(5.60%)	(7.80%)
Charitable contributions	(0.30%)	(0.60%)	(1.20%)
Nondeductible meals and entertainment	0.40%	1.50%	1.60%
Intercompany profit in inventory	1.20%	1.20%	6.20%
Nondeductible facilitative costs	1.40%	0.80%	0.00%
Changes in valuation allowances	0.10%	0.20%	0.20%
Uncertain tax positions	0.50%	0.20%	0.40%
Research and development credit	(1.60%)	(2.90%)	(2.60%)
Return to provision	(2.30%)	1.70%	(2.90%)
Global intangible low-taxed income ("GILTI")	2.50%	7.60%	3.50%
Nondeductible executive compensation	2.40%	3.00%	1.60%
Carryback of Federal net operating loss ("NOL")	0.00%	0.10%	(3.70%)
Other	0.50%	0.40%	0.00%
Swiss tax holiday	0.00%	(15.70%)	0.00%
IPR&D expense	0.00%	22.70%	0.00%
Foreign-Derived Intangible Income	(0.80%)	0.00%	0.00%
Transfer of Intra-entity of certain intellectual property - Rate Differential on FMV Step-Up	(63.30%)	0.00%	0.00%
Assets held for sale - Outside Basis Difference	2.80%	0.00%	0.00%
Effective tax rate	(43.20%)	16.50%	(5.90%)

INCOME TAXES (Schedule of Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 6,184	$ 14,597	$ (3,880)
State	5,029	3,447	1,609
Foreign	12,553	10,905	7,057
Total current	23,766	28,949	4,786
Deferred:
Federal	(5,079)	(10,889)	(7,202)
State	(1,760)	(666)	(3,048)
Foreign	(57,299)	(7,491)	2,066
Total deferred	(64,138)	(19,046)	(8,184)
Provision for income taxes	$ (40,372)	$ 9,903	$ (3,398)

INCOME TAXES (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets:
Doubtful accounts	$ 2,207	$ 2,426
Inventory related items	47,034	39,548
Tax credits	18,319	19,134
Accrued vacation	3,403	3,206
Accrued bonus	4,883	6,017
Stock compensation	6,160	8,347
Deferred revenue	1,665	1,805
Net operating loss carryforwards	29,335	37,418
Capitalization of research and development expenses	13,044	9,781
Unrealized foreign exchange loss	23,798	8,105
Charitable contributions carryforward	203	235
Leases and Other	23,205	12,496
Total deferred tax assets	173,256	148,518
Less valuation allowance	(9,897)	(9,865)
Deferred tax assets after valuation allowance	163,359	138,653
Liabilities:
Intangible and fixed assets	(90,274)	(150,879)
Leases and Other	(15,585)	(11,704)
Total deferred tax liabilities	(105,859)	(162,583)
Total net deferred tax assets	$ 57,500
Total net deferred (liabilities)		$ (23,930)

INCOME TAXES (Schedule of Uncertain Tax Benefits Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Uncertain Tax Benefits [Roll Forward]
Balance, beginning of year	$ 676	$ 676	$ 424
Gross increases:
Current year tax positions	0	53	273
Prior years' tax positions	26	0	0
Gross decreases:
Statute of limitations lapses	0	0	(21)
Other	0	(53)	0
Balance, end of year	$ 702	$ 676	$ 676

NET INCOME PER SHARE (Basic and Diluted Net Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Basic net income per share:
Net income	$ 92,744	$ 32,337	$ (369)	$ 9,180	$ 15,319	$ (27,610)	$ 29,736	$ 32,756	$ 133,892	$ 50,201	$ 60,801
Weighted average common shares outstanding - Basic (in shares)									84,650	85,637	82,857
Basic net income per common share (in dollars per share)	$ 1.10	$ 0.38	$ (0.00)	$ 0.11	$ 0.18	$ (0.32)	$ 0.35	$ 0.38	$ 1.58	$ 0.59	$ 0.73
Diluted net income per share:
Net income	$ 92,744	$ 32,337	$ (369)	$ 9,180	$ 15,319	$ (27,610)	$ 29,736	$ 32,756	$ 133,892	$ 50,201	$ 60,801
Weighted average common shares outstanding - Basic (in shares)									84,650	85,637	82,857
Effect of dilutive securities:
Stock options and restricted stock (in shares)									577	857	1,142
Weighted average common shares for diluted earnings per share (in shares)									85,228	86,494	83,999
Diluted net income per common share (in dollars per share)	$ 1.09	$ 0.38	$ (0.00)	$ 0.11	$ 0.18	$ (0.32)	$ 0.34	$ 0.38	$ 1.57	$ 0.58	$ 0.72

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

NET INCOME PER SHARE (Narrative) (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation as their effect would be antidilutive (in shares)	0.3	0.4
Performance Shares and Restricted Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Additional EPS shares (in shares)	0.5

ACCUMULATED OTHER COMPREHENSIVE LOSS (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, Beginning of Period	$ 1,416,736	$ 1,375,796	$ 962,306
Other comprehensive gain (loss)	(16,427)
Less: Amounts reclassified from accumulated other comprehensive income, net	(18,770)
Total other comprehensive loss, net of tax	2,343	(30,959)	(21,636)
Balance, End of Period	1,514,867	1,416,736	1,375,796
Gains and Losses on Derivatives
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, Beginning of Period	(26,625)
Other comprehensive gain (loss)	(74,394)
Less: Amounts reclassified from accumulated other comprehensive income, net	(18,770)
Total other comprehensive loss, net of tax	(55,624)
Balance, End of Period	(82,249)	(26,625)
Defined Benefit Pension Items
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, Beginning of Period	(9,709)
Other comprehensive gain (loss)	4,604
Less: Amounts reclassified from accumulated other comprehensive income, net	0
Total other comprehensive loss, net of tax	4,604
Balance, End of Period	(5,105)	(9,709)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, Beginning of Period	(40,068)
Other comprehensive gain (loss)	53,363
Less: Amounts reclassified from accumulated other comprehensive income, net	0
Total other comprehensive loss, net of tax	53,363
Balance, End of Period	13,295	(40,068)
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, Beginning of Period	(76,402)	(45,443)	(23,807)
Total other comprehensive loss, net of tax	2,343	(30,959)	(21,636)
Balance, End of Period	$ (74,059)	$ (76,402)	$ (45,443)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

ACCUMULATED OTHER COMPREHENSIVE LOSS (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Loss reclassified from AOCL	$ 18,770
Gains and Losses on Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Loss reclassified from AOCL	18,770
Gains and Losses on Derivatives \| Other Expense
Accumulated Other Comprehensive Income (Loss) [Line Items]
Loss reclassified from AOCL	12,200
Gains and Losses on Derivatives \| Interest Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Loss reclassified from AOCL	$ 6,600

COMMITMENTS AND CONTINGENCIES (Fair Value Contingent Consideration) (Details) - Contingent Consideration Liability - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Arkis \| Accrued expenses and other current liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 0
Transfers from long-term to current portion	3,415
Loss from change in fair value of contingent consideration liabilities	0
Balance, End of Period	3,415	$ 0
Arkis \| Other Noncurrent Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	14,210	0
Transfers from long-term to current portion	(3,415)
Additions from acquisition of Arkis		13,100
Loss from change in fair value of contingent consideration liabilities	951	1,110
Balance, End of Period	11,746	14,210
Derma Sciences \| Other Noncurrent Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	230	230
Transfers from long-term to current portion	0
Loss from change in fair value of contingent consideration liabilities	0	0
Balance, End of Period	$ 230	$ 230

SEGMENT AND GEOGRAPHIC INFORMATION (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020 Segment product
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment	2
Codman Specialty Surgical
Segment Reporting Information [Line Items]
Number of products offered (more than) \| product	40,000

SEGMENT AND GEOGRAPHIC INFORMATION (Net Sales and Profit by Reportable Segment) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Net Sales
Total revenues	$ 388,647	$ 370,232	$ 258,665	$ 354,324	$ 395,127	$ 379,095	$ 383,645	$ 359,690	$ 1,371,868	$ 1,517,557	$ 1,472,441
Segment Profit
Operating income									151,370	93,760	110,998
Amortization									(27,757)	(27,028)	(21,160)
Codman Specialty Surgical
Segment Net Sales
Total revenues									894,831	996,206	963,929
Orthopedics and Tissue Technologies
Segment Net Sales
Total revenues									477,037	521,351	508,512
Operating Segments
Segment Profit
Operating income									516,287	539,657	512,846
Operating Segments \| Codman Specialty Surgical
Segment Profit
Operating income									356,657	395,019	363,336
Operating Segments \| Orthopedics and Tissue Technologies
Segment Profit
Operating income									159,630	144,638	149,510
Corporate and other
Segment Profit
Operating income									$ (337,160)	$ (418,869)	$ (380,688)

- Definition

+ References

+ Details

SEGMENT AND GEOGRAPHIC INFORMATION (Total Revenue by Major Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenue, net	$ 388,647	$ 370,232	$ 258,665	$ 354,324	$ 395,127	$ 379,095	$ 383,645	$ 359,690	$ 1,371,868	$ 1,517,557	$ 1,472,441
Total long-lived assets	382,403				446,718				382,403	446,718
United States (Includes long-lived assets in Puerto Rico)
Segment Reporting Information [Line Items]
Total revenue, net									971,975	1,077,379	1,045,887
Total long-lived assets	324,893				383,652				324,893	383,652
Europe
Segment Reporting Information [Line Items]
Total revenue, net									172,689	197,468	201,354
Total long-lived assets	38,812				47,325				38,812	47,325
Asia Pacific
Segment Reporting Information [Line Items]
Total revenue, net									157,174	157,391	144,253
Total long-lived assets	13,121				8,598				13,121	8,598
Rest of the World
Segment Reporting Information [Line Items]
Total revenue, net									70,030	85,319	$ 80,947
Total long-lived assets	$ 5,577				$ 7,143				$ 5,577	$ 7,143

- Definition

+ References

+ Details

SUBSEQUENT EVENTS (Narrative) (Details) - Subsequent Event - USD ($)	Jan. 20, 2021	Jan. 04, 2021	Feb. 19, 2021
2000 and 2001 Equity Incentive Plans
Subsequent Event [Line Items]
Number of shares available for future issuance (in shares)			0
ACell, Inc.
Subsequent Event [Line Items]
Payments to acquire business	$ 300,000,000
Contingent consideration, cash payments due upon achievement of certain revenue-based performance milestones (up to)	$ 100,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Smith & Nephew USD Limited
Subsequent Event [Line Items]
Aggregate purchase price received		$ 240,000,000.0
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Smith & Nephew USD Limited \| Consortium of Focused Orthopedists, LLC
Subsequent Event [Line Items]
Sale of Extremity Orthopedics business, payment for terminating license agreement		$ 41,500,000

SELECTED QUARTERLY INFORMATION - UNAUDITED (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Selected Quarterly Financial Information [Abstract]
Total revenue, net	$ 388,647	$ 370,232	$ 258,665	$ 354,324	$ 395,127	$ 379,095	$ 383,645	$ 359,690	$ 1,371,868	$ 1,517,557	$ 1,472,441
Gross margin	241,578	235,421	153,187	220,848	245,665	236,459	239,974	230,778	851,034	952,876
Net income (loss)	$ 92,744	$ 32,337	$ (369)	$ 9,180	$ 15,319	$ (27,610)	$ 29,736	$ 32,756	$ 133,892	$ 50,201	$ 60,801
Per Share-Basic (in dollars per share)	$ 1.10	$ 0.38	$ (0.00)	$ 0.11	$ 0.18	$ (0.32)	$ 0.35	$ 0.38	$ 1.58	$ 0.59	$ 0.73
Per Share-Diluted (in dollars per share)	$ 1.09	$ 0.38	$ (0.00)	$ 0.11	$ 0.18	$ (0.32)	$ 0.34	$ 0.38	$ 1.57	$ 0.58	$ 0.72

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 4,303	$ 3,719	$ 8,882
Charged to Costs and Expenses	3,635	2,126	557
Other	0	0	(4,649)
Deductions	(1,499)	(1,542)	(1,071)
Balance at End of Period	6,439	4,303	3,719
Deferred tax assets valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	12,069	6,973	7,961
Charged to Costs and Expenses	1,617	3,848	(894)
Other	0	1,291	0
Deductions	139	(43)	(94)
Balance at End of Period	$ 13,825	$ 12,069	$ 6,973