Business segment information (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
Segment Reporting [Abstract] |
|
Schedule of Net Sales by Major Product Category by Reporting Segment |
The table below presents net sales by major product category by reporting segment:
|
|
Year Ended December 31, |
|
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
(U.S. Dollars, in thousands) |
|
Net Sales |
|
|
Percent of
Total Net
Sales |
|
|
Net Sales |
|
|
Percent of
Total Net
Sales |
|
|
Net Sales |
|
|
Percent of
Total Net
Sales |
|
Bone Growth Therapies |
|
$ |
197,181 |
|
|
|
42.9 |
% |
|
$ |
195,252 |
|
|
|
43.1 |
% |
|
$ |
185,900 |
|
|
|
42.9 |
% |
Spinal Implants |
|
|
94,544 |
|
|
|
20.6 |
% |
|
|
91,658 |
|
|
|
20.2 |
% |
|
|
81,957 |
|
|
|
18.9 |
% |
Biologics |
|
|
65,496 |
|
|
|
14.2 |
% |
|
|
59,684 |
|
|
|
13.2 |
% |
|
|
62,724 |
|
|
|
14.4 |
% |
Global Spine |
|
|
357,221 |
|
|
|
77.7 |
% |
|
|
346,594 |
|
|
|
76.5 |
% |
|
|
330,581 |
|
|
|
76.2 |
% |
Global Extremities |
|
|
102,734 |
|
|
|
22.3 |
% |
|
|
106,448 |
|
|
|
23.5 |
% |
|
|
103,242 |
|
|
|
23.8 |
% |
Net sales |
|
$ |
459,955 |
|
|
|
100.0 |
% |
|
$ |
453,042 |
|
|
|
100.0 |
% |
|
$ |
433,823 |
|
|
|
100.0 |
% |
|
Summary of EBITDA by Reporting Segment |
The following table presents EBITDA, the primary metric used in managing the Company, by reporting segment:
|
|
Year Ended December 31, |
|
(U.S. Dollars, in thousands) |
|
2019 |
|
|
2018 |
|
|
2017 |
|
Global Spine |
|
$ |
39,528 |
|
|
$ |
76,545 |
|
|
$ |
84,034 |
|
Global Extremities |
|
|
7,496 |
|
|
|
9,453 |
|
|
|
7,143 |
|
Corporate |
|
|
(49,252 |
) |
|
|
(43,626 |
) |
|
|
(34,246 |
) |
Total EBITDA |
|
|
(2,228 |
) |
|
|
42,372 |
|
|
|
56,931 |
|
Depreciation and amortization |
|
|
(24,699 |
) |
|
|
(18,659 |
) |
|
|
(20,124 |
) |
Interest expense, net |
|
|
(122 |
) |
|
|
(828 |
) |
|
|
(416 |
) |
Income (loss) before income taxes |
|
$ |
(27,049 |
) |
|
$ |
22,885 |
|
|
$ |
36,391 |
|
|
Schedule of Depreciation and Amortization by Reporting Segment |
The following table presents depreciation and amortization by reporting segment:
|
|
Year Ended December 31, |
|
(U.S. Dollars, in thousands) |
|
2019 |
|
|
2018 |
|
|
2017 |
|
Global Spine |
|
$ |
14,329 |
|
|
$ |
9,512 |
|
|
$ |
9,834 |
|
Global Extremities |
|
|
5,575 |
|
|
|
5,342 |
|
|
|
6,040 |
|
Corporate |
|
|
4,795 |
|
|
|
3,805 |
|
|
|
4,250 |
|
Total |
|
$ |
24,699 |
|
|
$ |
18,659 |
|
|
$ |
20,124 |
|
|
Summary of Net Sales by Geographic Destination |
The following data includes net sales by geographic destination:
|
|
Year Ended December 31, |
|
(U.S. Dollars, in thousands) |
|
2019 |
|
|
2018 |
|
|
2017 |
|
U.S. |
|
$ |
361,939 |
|
|
$ |
355,353 |
|
|
$ |
345,145 |
|
Italy |
|
|
19,560 |
|
|
|
19,331 |
|
|
|
17,059 |
|
Germany |
|
|
12,688 |
|
|
|
11,606 |
|
|
|
7,063 |
|
United Kingdom |
|
|
10,090 |
|
|
|
8,731 |
|
|
|
8,725 |
|
Brazil |
|
|
7,685 |
|
|
|
7,120 |
|
|
|
10,356 |
|
Others |
|
|
47,993 |
|
|
|
50,901 |
|
|
|
45,475 |
|
Net sales |
|
$ |
459,955 |
|
|
$ |
453,042 |
|
|
$ |
433,823 |
|
The table below presents net sales by geographic destination for each reporting segment and for the consolidated Company:
|
|
Year Ended December 31, |
|
(U.S. Dollars, in thousands) |
|
2019 |
|
|
2018 |
|
|
2017 |
|
Global Spine |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. |
|
$ |
335,410 |
|
|
$ |
326,994 |
|
|
$ |
318,227 |
|
International |
|
|
21,811 |
|
|
|
19,600 |
|
|
|
12,354 |
|
Total Global Spine |
|
|
357,221 |
|
|
|
346,594 |
|
|
|
330,581 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Global Extremities |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. |
|
|
26,529 |
|
|
|
28,359 |
|
|
|
26,918 |
|
International |
|
|
76,205 |
|
|
|
78,089 |
|
|
|
76,324 |
|
Total Global Extremities |
|
|
102,734 |
|
|
|
106,448 |
|
|
|
103,242 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. |
|
|
361,939 |
|
|
|
355,353 |
|
|
|
345,145 |
|
International |
|
|
98,016 |
|
|
|
97,689 |
|
|
|
88,678 |
|
Net sales |
|
$ |
459,955 |
|
|
$ |
453,042 |
|
|
$ |
433,823 |
|
|
Summary of Property, Plant and Equipment of Reporting Segments by Geographic Area |
The following data includes property, plant and equipment by geographic area:
(U.S. Dollars, in thousands) |
|
2019 |
|
|
2018 |
|
U.S. |
|
$ |
51,278 |
|
|
$ |
31,344 |
|
Italy |
|
|
7,937 |
|
|
|
7,732 |
|
Germany |
|
|
849 |
|
|
|
861 |
|
United Kingdom |
|
|
1,082 |
|
|
|
896 |
|
Brazil |
|
|
141 |
|
|
|
191 |
|
Others |
|
|
1,440 |
|
|
|
1,811 |
|
Total |
|
$ |
62,727 |
|
|
$ |
42,835 |
|
|