Segments

6 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Segments

Segments

The Company’s two reportable segments are U.S. and International. The Company’s products are primarily sold to orthopedists, musculoskeletal and sports medicine physicians, podiatrists, neurosurgeons and orthopedic spine surgeons, as well as to their patients. The Company does not disclose segment information by asset as the Chief Operating Decision Maker does not review or use it to allocate resources or to assess the operating results and financial performance. Segment adjusted EBITDA is the segment profitability metric reported to the Company’s Chief Operating Decision Maker for purposes of decisions about allocation of resources to, and assessing performance of, each reportable segment.

The following table presents segment adjusted EBITDA reconciled to (loss) income before income taxes:

	Three Months Ended				Six Months Ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Segment adjusted EBITDA
U.S.	$	19,196	$	17,149	$	23,924	$	27,147
International	3,735		2,738		6,118		3,810
Interest (expense) income, net	(2,578)		(1,681)		(1,028)		1,195
Depreciation and amortization	(12,384)		(7,479)		(24,863)		(14,663)
Acquisition and related costs	(3,901)		(4,580)		(11,304)		(7,776)
Restructuring and succession charges	(1,695)		(187)		(2,272)		(344)
Impairments related to variable interest entity	—		(7,043)		—		(7,043)
Equity compensation	(4,616)		(5,853)		(9,505)		16,559
Equity loss in unconsolidated investments	(280)		(432)		(681)		(901)
Foreign currency impact	(602)		12		(541)		64
Other items	(3,645)		(1,710)		(6,556)		(2,659)
(Loss) income before income taxes	$	(6,770)	$	(9,066)	$	(26,708)	$	15,389