Schedule of Changes in Contract Assets and Contract Liabilities |
The following table summarizes the changes in the contract asset and liability balances for the nine months ended September 30, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Dollars in thousands | | | | | Total | | | | Contract Asset | | | | | | | | | Contract asset, January 1, 2024 | | | | | $ | 9,233 | | | | | Transferred to trade receivable from contract asset included in beginning of the year contract asset | | | | | $ | (9,233) | | | | | | | | | | | | | | Contract asset, net of transferred to trade receivables on contracts during the period | | | | | $ | 7,828 | | | | | Contract asset, September 30, 2024 | | | | | $ | 7,828 | | | | | | | | | | | | | | Contract Liability | | | | | | | | | Contract liability, January 1, 2024 | | | | | $ | 16,252 | | | | | Recognition of revenue included in beginning of year contract liability | | | | | $ | (6,616) | | | | | Contract liability, acquired with Acclarent | | | | | $ | 3,984 | | | | | Contract liability, net of revenue recognized on contracts during the period | | | | | $ | 4,447 | | | | | Foreign currency translation | | | | | $ | 21 | | | | | Contract liability, September 30, 2024 | | | | | $ | 18,088 | | | | |
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Schedule of Disaggregation of Revenue |
The following table presents revenues disaggregated by the major sources of revenues for the three and nine months ended September 30, 2024 and 2023 (dollar amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2024 | | Three Months Ended September 30, 2023 | | Nine Months Ended September 30, 2024 | | Nine Months Ended September 30, 2023 | Neurosurgery | $ | 175,956 | | | $ | 209,229 | | | $ | 583,726 | | | $ | 607,902 | | Instruments | 54,238 | | | 49,920 | | | 153,148 | | | 152,523 | | ENT(1) | 40,588 | | | 9,056 | | | 92,103 | | | 26,946 | | Total Codman Specialty Surgical | 270,782 | | | 268,205 | | | 828,977 | | | 787,371 | | | | | | | | | | Wound Reconstruction and Care | 80,460 | | | 88,071 | | | 249,032 | | | 280,129 | | Private Label | 29,592 | | | 26,145 | | | 89,872 | | | 77,034 | | Total Tissue Technologies | 110,052 | | | 114,216 | | | 338,904 | | | 357,163 | | Total revenue | $ | 380,834 | | | $ | 382,421 | | | $ | 1,167,881 | | | $ | 1,144,534 | |
(1) Prior period revenues included within our instruments business have been reclassified under the ENT business.
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