View Filing Data

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The components of income before income taxes are as follows:



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
Domestic	$	179,194	$	180,701	$	155,051
Foreign		10,752		7,904		14,877
Total	$	189,946	$	188,605	$	169,928

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the provision for income taxes are as follows:



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
Current:
Federal	$	23,093	$	23,774	$	46,728
State		4,532		4,662		5,009
Foreign		2,819		2,724		2,638
		30,444		31,160		54,375
Deferred:
Federal		6,542		4,155		10,553
State		(68)		(587)		(1,123)
Foreign		(2,182)		(2,597)		(1,225)
		4,292		971		8,205
Total	$	34,736	$	32,131	$	62,580

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the statutory U.S. federal tax rate to our effective rate is as follows:



	Year Ended
	December 31,
	2019		2018		2017
Statutory U.S. federal tax rate	21.0	%	21.0	%	35.0	%
State income taxes, net of federal benefit	2.2		2.3		1.9
Foreign taxes	0.4		1.7		1.0
Domestic production activities deduction	(0.6)		(0.7)		(2.3)
Tax credits	(2.6)		(1.6)		(3.8)
Stock-based compensation windfall	(2.5)		(5.2)		(1.4)
Nondeductible expenses	0.3		(0.6)		0.1
Other	0.1		0.1		(0.2)
Tax reform impact	—		—		6.5
Effective tax rate	18.3	%	17.0	%	36.8	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred income taxes reflect the tax effects of temporary differences between the basis of assets and liabilities recognized for financial reporting purposes and tax purposes. Significant components of our deferred income taxes are as follows:



	December 31,
(In thousands)	2019		2018
Deferred tax assets:
Inventory reserve	$	26,381	$	25,398
Accruals, reserves, and other currently not deductible		8,620		10,377
Stock-based compensation		14,020		10,959
Net operating loss carryforwards		3,857		3,852
Total deferred tax assets		52,878		50,586
Valuation allowance		(2,846)		(2,683)
Total deferred tax assets, net of valuation allowance		50,032		47,903
Deferred tax liabilities:
Depreciation and amortization		(50,129)		(42,439)
Total deferred tax liabilities		(50,129)		(42,439)
Net deferred tax assets	$	(97)	$	5,464

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

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



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
Unrecognized tax benefits at the beginning of the year	$	4,777	$	2,601	$	1,862
Additions related to current year tax positions		—		—		—
Additions related to prior year tax positions		—		2,176		739
Reductions related to prior year tax positions		(2,378)		—		—
Unrecognized tax benefits at the end of the year	$	2,399	$	4,777	$	2,601

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash, cash equivalents, and restricted cash	$ 195,724	$ 139,747
Short-term marketable securities	115,763	199,937
Accounts receivable, net of allowances of $5,410 and $4,226, respectively	154,326	137,067
Inventories	196,314	131,254
Prepaid expenses and other current assets	17,243	15,387
Income taxes receivable	8,098	7,289
Total current assets	687,468	630,681
Available-for-sale Securities, Noncurrent	409,514	263,117
Property and equipment, net of accumulated depreciation of $231,003 and $216,809, respectively	199,841	171,873
Intangible assets, net	78,812	87,323
Goodwill	128,775	123,734
Other assets	21,741	10,364
Deferred income taxes	5,926	13,578
Total assets	1,532,077	1,300,670
Current liabilities
Account payable	24,614	25,895
Accrued expenses	63,283	59,878
Income taxes payable	1,057	917
Business acquisition liabilities	6,727	6,830
Deferred revenue	5,402	2,598
Total current liabilities	111,403	96,118
Broker-Dealer, Payable to Other Broker-Dealer and Clearing Organization	10,320
Business acquisition liabilities, net of current portion	2,822	3,288
Deferred income taxes	6,023	8,114
Other liabilities	9,377	7,634
Total liabilities	129,625	115,154
Commitments and contingencies
Equity
Additional paid-in capital	357,320	299,869
Accumulated other comprehensive loss	(2,898)	(7,172)
Retained earnings	1,047,931	892,721
Total equity	1,402,452	1,185,516
Total liabilities and equity	1,532,077	1,300,670
Common Class A [Member]
Equity
Common stock	77	76
Common Class B [Member]
Equity
Common stock	$ 22	$ 22

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2017
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 156,474	$ 155,210	$ 107,348
Other comprehensive income/(loss)
Unrealized gain/(loss) on marketable securities, net of tax	145	3,767	(146)
Foreign currency translation gain/(loss)	(410)	507	1,881
Total other comprehensive income/(loss)	(265)	4,274	1,735
Comprehensive income	$ 156,209	$ 159,484	$ 109,083

- Definition

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

+ References + Details

EQUITY (Narrative) (Details) - shares	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Common stock, shares authorized	785,000,000
Common Class A [Member]
Class of Stock [Line Items]
Common stock, shares authorized	500,000,000	500,000,000	500,000,000
Common Class B [Member]
Class of Stock [Line Items]
Common stock, shares authorized	275,000,000	275,000,000	275,000,000
Common Class C [Member]
Class of Stock [Line Items]
Common stock, shares authorized	10,000,000

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2019

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Background and Summary of Significant Accounting Policies

NOTE 1. BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) The Company

Globus Medical, Inc., together with its subsidiaries, is a medical device company that develops and commercializes healthcare solutions in a mission to improve the quality of life of patients with musculoskeletal disorders. We are primarily focused on implants that promote healing in patients with musculoskeletal disorders, including the use of a robotic guidance and navigation system and products to treat patients who have experienced orthopedic traumas.

We are an engineering-driven company with a history of rapidly developing and commercializing advanced products and procedures to assist surgeons in effectively treating their patients and to address new treatment options. With over 200 products launched, we offer a comprehensive portfolio of innovative and differentiated technologies that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

We are headquartered in Audubon, Pennsylvania, and market and sell our products through our exclusive sales force in the United States, as well as within North, Central & South America, Europe, Asia, Africa and Australia. The sales force consists of direct sales representatives and distributor sales representatives employed by exclusive independent distributors.

The terms the “Company,” “Globus,” “we,” “us” and “our” refer to Globus Medical, Inc. and, where applicable, our consolidated subsidiaries.

(b) Basis of Presentation

The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”).

The accompanying consolidated financial statements include the accounts of Globus and its wholly owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation.

(d) Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates, in part, on historical experience that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.

Significant areas that require management’s estimates include intangible assets, contingent payment liabilities, allowance for doubtful accounts, stock-based compensation, write-down for excess and obsolete inventory, useful lives of assets, the outcome of litigation, recoverability of intangible assets and income taxes. We are subject to risks and uncertainties due to changes in the healthcare environment, regulatory oversight, competition, and legislation that may cause actual results to differ from estimated results.

During fourth quarter of 2017, we completed a review of the estimated useful life of our Instruments and Modules and cases. Based on historical useful life information, forecasted product life cycles and demand expectations, the useful life of Instruments and Modules and cases were extended from three to five years. This was accounted for as a change in accounting estimate and was made on a prospective basis effective October 1, 2017. For the three months ended December 31, 2018, depreciation expense was lower by approximately $1.3 million than it would have been had the useful life of these assets not been extended. The effect of this change on basic and diluted earnings per share for the three months ended December 31, 2018 was $0.01 per share. For the year ended December 31, 2018, depreciation expense was lower by approximately $5.7 million than it would have been had the useful life of these assets not been extended, with a diluted earnings per share impact of $0.05 per share.

(e) Foreign Currency Translation

The functional currency of our foreign subsidiaries is generally their local currency. Assets and liabilities of the foreign subsidiaries are translated at the period end currency exchange rate and revenues and expenses are translated at an average currency exchange rate for the

period. The resulting foreign currency translation gains and losses are included as a component of accumulated other comprehensive income. Gains and losses arising from intercompany foreign transactions are included in other income, net on the consolidated statement of income

(f) Cash, Cash Equivalents, and Restricted Cash

Cash and cash equivalents include cash on hand and all highly liquid investments with a maturity of three months or less when purchased.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position that sum to the total of the same such amounts shown in the statement of cash flows:



	December 31,
(In thousands)	2019		2018		2017		2016
Cash and cash equivalents	$	195,474	$	139,647	$	118,817	$	66,954
Restricted cash		250		100		—		477
Total cash, cash equivalents, and restricted cash as presented in the consolidated statement of cash flows	$	195,724	$	139,747	$	118,817	$	67,431

(g) Concentrations of Credit Risk

Financial instruments, which potentially subject us to concentrations of credit risk, are primarily marketable securities and accounts receivable. Concentrations of credit risk with respect to accounts receivable are limited due to the large number of entities comprising our customer base. We perform ongoing credit evaluations of our customers and generally do not require collateral.

There was no customer that accounted for 10% or more of sales for the years ended December 31, 2019, 2018, and 2017, respectively.

(h) Marketable Securities

Our marketable securities include municipal bonds, corporate debt securities, commercial paper, securities of government, federal agency, and other sovereign obligations, and asset-backed securities, and are classified as available-for-sale as of December 31, 2019 and 2018. Available-for-sale securities are recorded at fair value in both short-term and long-term marketable securities on our consolidated balance sheets. The change in fair value for available-for-sale securities is recorded, net of taxes, as a component of accumulated other comprehensive income or loss on our consolidated balance sheets. Premiums and discounts are recognized over the life of the related security as an adjustment to yield using the straight-line method. Realized gains or losses from the sale of our marketable securities are determined on a specific identification basis. Realized gains and losses, along with interest income and the amortization/accretion of premiums/discounts are included as a component of other income, net, on our consolidated statements of income. Interest receivable is recorded as a component of prepaid expenses and other current assets on our consolidated balance sheets.

We maintain a portfolio of various holdings, types and maturities, though most of the securities in our portfolio could be liquidated at minimal cost at any time. We invest in securities that meet or exceed standards as defined in our investment policy. Our policy also limits the amount of credit exposure to any one issue, issuer or type of security. We review our securities for other-than-temporary impairment at each reporting period. If an unrealized loss for any security is considered to be other-than-temporary, the loss will be recognized in our consolidated statement of income in the period the determination is made.

Purchases of marketable securities include payables to broker of $10.3 million during the twelve months ended December 31, 2019.

(i) Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined on a first-in, first-out basis. The majority of our inventories are finished goods and we utilize both in-house manufacturing and third-party suppliers to source our products. We periodically evaluate the carrying value of our inventories in relation to our estimated forecast of product demand, which takes into consideration the estimated life cycle of product releases. When quantities on hand exceed estimated sales forecasts, we record a write-down for such excess inventories. Once inventory has been written down, it creates a new cost basis for inventory that is not subsequently written up.

During years ended December 31, 2019, 2018 and 2017, net adjustments to cost of sales related to excess and obsolete inventory were $2.5 million, $10.5 million and $11.5 million, respectively. The net adjustments for the years ended December 31, 2019, 2018 and 2017 reflect a combination of additional expense for excess and obsolete related provisions ($11.2 million, $17.6 million and $20.7 million,

respectively) offset by sales and disposals ($8.7 million, $7.1 million and $9.2 million, respectively) of inventory for which an excess and obsolete provision was provided previously through expense recognized in prior periods.

(j) Property and Equipment

Property and equipment are recorded at cost less accumulated depreciation. Additions or improvements are capitalized, while repairs and maintenance are expensed as incurred. Depreciation and amortization are provided using the straight-line method over the related useful lives of the assets.

When assets are sold or otherwise disposed of, the related property, equipment, and accumulated depreciation amounts are relieved from the accounts, and any gain or loss is recorded in the consolidated statements of income.

Purchases of property and equipment included in accounts payable and accrued expenses were $4.2 million, $10.1 million, and $6.5 million during the twelve months ended December 31, 2019, 2018, and 2017, respectively.

(k) Goodwill and Intangible Assets

Goodwill represents the excess purchase price over the fair values of the identifiable assets acquired less the liabilities assumed. Goodwill is tested for impairment at a minimum on an annual basis. Goodwill is tested for impairment at the reporting unit level by comparing the reporting unit’s carrying amount to the fair value of the reporting unit. The fair values are estimated using an income and discounted cash flow approach. We perform our annual impairment test for goodwill in the fourth quarter of each year. We consider qualitative indicators of the fair value of a reporting unit when it is unlikely that a reporting unit has impaired goodwill. During the years ended December 31, 2019, 2018 and 2017, we did not record any impairment charges related to goodwill.

Intangible assets consist of purchased in-process research and development (“IPR&D”), developed technology, supplier network, patents, customer relationships and non-compete agreements. Intangible assets with finite useful lives are amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from one to seventeen years. Intangible assets are tested for impairment annually or whenever events or circumstances indicate that a carrying amount of an asset (asset group) may not be recoverable. If impairment is indicated, we measure the amount of the impairment loss as the amount by which the carrying amount exceeds the fair value of the asset. Fair value is generally determined using a discounted future cash flow analysis. During 2017, we recorded an impairment charge of $0.5 million related to one of our developed technologies related to one of our systems as a component of selling, general and administrative expense. There were no impairments of finite-lived intangible assets during the years ended December 31, 2019 and 2018.

IPR&D has an indefinite life and is not amortized until completion of the project at which time the IPR&D becomes an amortizable asset. If the related project is not completed in a timely manner, we may have an impairment related to the IPR&D, calculated as the excess of the asset’s carrying value over its fair value. There were no impairments of IPR&D during the years ended December 31, 2019, 2018 or 2017.

(l) Impairment of Long-Lived Assets

We periodically evaluate the recoverability of the carrying amount of long-lived assets, which include property and equipment, as well as whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be fully recoverable. An impairment is assessed when the undiscounted future cash flows from the use and eventual disposition of an asset group are less than its carrying value. If impairment is indicated, we measure the amount of the impairment loss as the amount by which the carrying amount exceeds the fair value of the asset group. Our fair value methodology is based on quoted market prices, if available. If quoted market prices are not available, an estimate of fair value is made based on prices of similar assets or other valuation techniques including present value techniques. During the years ended December 31, 2019, 2018 and 2017, we did not record any impairment charges related to long-lived assets.

(m) Revenue Recognition

Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Sales and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. For purposes of disclosing disaggregated revenue, we disaggregate our revenue, into two categories, Musculoskeletal Solutions and Enabling Technologies, based on the timing of revenue recognition. Our Musculoskeletal Solutions products consist primarily of the implantable devices, disposables, and unique instruments used in an expansive range of spine, orthopedic trauma, hip, knee and extremity procedures. The majority of our Musculoskeletal Solutions contracts have a single performance obligation and revenue is recognized at a point in time. Our Enabling Technologies products are the advanced hardware and software systems and related technologies that are designed to enhance a surgeon’s capabilities and streamline surgical procedures by making them less invasive, more accurate, and more reproducible to improve patient care.

The majority of our Enabling Technologies product contracts typically contain multiple performance obligations, including maintenance and support, and revenue is recognized as we fulfill each performance obligation. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. Our policy is to classify shipping and handling costs billed to customers as sales and the related expenses as cost of goods sold.

Nature of Products and Services

A significant portion of our Musculoskeletal Solutions product revenue is generated from consigned inventory maintained at hospitals or with sales representatives. Revenue from the sale of consigned Musculoskeletal products is recognized when we transfer control, which occurs at the time the product is used or implanted. For all other Musculoskeletal Solutions product transactions, we recognize revenue when we transfer title to the goods, provided there are no remaining performance obligations that will affect the customer’s final acceptance of the sale. We use an observable price to determine the stand-alone selling price for the identified performance obligation.

Revenue from the sale of Enabling Technologies products is generally recognized when title transfers to the customer which occurs at the time the product is shipped or delivered. Depending on the terms of the arrangement, we may also defer the recognition of a portion of the consideration received as we have to satisfy a future performance obligation to provide maintenance and support. We use an observable price to determine the stand-alone selling price for each separate performance obligation.

Contract Balances

Timing of revenue recognition may differ from the timing of invoicing to customers. We record a receivable when revenue is recognized prior to invoicing, or deferred revenue when revenue is recognized subsequent to invoicing.

Deferred revenue is comprised mainly of unearned revenue related to the sales of certain Enabling Technologies products, which includes maintenance and support services. Deferred revenue is generally invoiced annually at the beginning of each contract period and recognized ratably over the coverage period. For the three months and years ended December 31, 2019, 2018 and 2017, there was an immaterial amount of revenue recognized from previously deferred revenue.

Disaggregation of Revenue

The following table represents total sales by revenue stream:



	Three Months Ended						Year Ended
	December 31,						December 31,
(In thousands)	2019		2018		2017		2019		2018		2017
Musculoskeletal Solutions products	$	197,757	$	181,638	$	165,114	$	738,377	$	666,040	$	625,057
Enabling Technologies products		13,910		14,300		10,920		46,991		46,929		10,920
Total sales	$	211,667	$	195,938	$	176,034	$	785,368	$	712,969	$	635,977

(n) Cost of Goods Sold

Cost of goods sold consists primarily of costs from our in-house manufacturing, costs of products purchased from third-party suppliers, excess and obsolete inventory charges, depreciation of surgical instruments and cases, royalties, shipping, inspection and related costs incurred in making our products available for sale or use.

(o) Research and Development

Research and development costs are expensed as incurred. Research and development costs include salaries, employee benefits, supplies, consulting services, clinical services and clinical trial costs, and facilities costs. Costs incurred in obtaining technology licenses and patents are charged immediately to research and development expense if the technology licensed has not reached technological feasibility and has no alternative future use.

(p) Other Income

In June 2018, we sold assets for $5.0 million, which resulted in a gain on sale of assets of $4.6 million.

(q) Stock-Based Compensation

The cost for employee and non-employee director awards is measured at the grant date based on the fair value of the award. The fair value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service period (generally the vesting period of the equity award). Awards issued to non-employees are recorded at their fair value as determined in accordance with authoritative guidance, and are periodically revalued as the awards vest and are recognized as expense over the requisite service period.

The determination of the fair value of stock options is made utilizing the Black-Scholes option-pricing model which is affected by our stock price and a number of assumptions, including expected volatility, expected term, risk-free interest rate and expected dividends. Expected volatility is based on the historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected term of the Company’s stock options offering period which is derived from historical experience. The risk-free interest rate assumption is based on observed interest rates of U.S. Treasury securities appropriate for the expected terms of the stock options. The dividend yield assumption is based on the history and expectation of no dividend payouts.

(r) Income Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which such items are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. A valuation allowance is established to offset any deferred tax assets if, based upon available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

Significant judgment is required in determining income tax provisions and in evaluating tax positions. We will establish additional provisions for income taxes when, despite the belief that tax positions are fully supportable, there remain certain positions that do not meet the minimum probability threshold that a tax position is more likely than not to be sustained upon examination by the taxing authority. In the normal course of business, we and our subsidiaries are examined by various federal, state, and foreign tax authorities. We regularly assess the potential outcomes of these examinations and any future examinations for the current or prior years in determining the adequacy of the provision for income taxes. We periodically assess the likelihood and amount of potential adjustments and adjust the income tax provision, the current tax liability, and deferred taxes in the period in which the facts that give rise to a revision become known.

(s) Fair Value of Financial Instruments

As of December 31, 2019 and 2018, the carrying values of cash and cash equivalents, short and long-term investments, accounts receivable, accounts payable and accrued expenses approximate their respective fair values based on their short and long-term nature. We classify our financial assets and liabilities that are measured at fair value into one of the three categories based upon inputs used to determine fair value. See “Note 6. Fair Value Measurements” below for more details regarding inputs and classifications.

(t) Advertising Expense

We expense advertising costs as they are incurred. Advertising expense was $1.1 million, $1.9 million and $1.5 million, for the years ended December 31, 2019, 2018, and 2017, respectively.

(u) Legal Costs

We are involved in a number of proceedings, legal actions, and claims. Such matters are subject to many uncertainties, and the outcomes of these matters are not within our control and may not be known for prolonged periods of time. In some actions, the claimants seek damages, as well as other relief, including injunctions prohibiting us from engaging in certain activities, which, if granted, could require significant expenditures and/or result in lost revenues. We record a liability in the consolidated financial statements for these actions when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. In most cases, significant judgment is required to estimate the amount and timing of a loss to be recorded. We expense legal costs related to loss contingencies as incurred.

(v) Acquisition Related Costs

Acquisition related costs represents the change in fair value of business acquisition related contingent consideration; costs related to integrating recently acquired businesses including but not limited to costs to exit or convert contractual obligations, severance, and information

system conversion; and specific costs related to the consummation of the acquisition process such as banker fees, legal fees, and other acquisition related professional fees.

(w) Medical Device Excise Tax

Effective as of January 1, 2013, the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Affordability Reconciliation Act imposed a medical device excise tax (“MDET”) of 2.3% on any entity that manufactures or imports certain medical devices offered for sale in the United States. We have historically accounted for the MDET as a component of our cost of goods sold. On December 20, 2019, pursuant to the Further Consolidated Appropriations Act, the MDET was repealed. Prior to its repeal, the MDET was on a four-year moratorium. As a result, the MDET does not apply to sales of taxable medical devices after December 31, 2015.

(x) Recently Issued Accounting Pronouncements

In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 replaces the incurred loss impairment methodology for measuring and recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This amendment is effective for fiscal years beginning after December 15, 2019. We adopted ASU 2016-13 on January 1, 2020. This standard did not have a material impact on our financial position, results of operations, and disclosures.

In January 2017, the FASB released ASU 2017-04, Intangibles - Goodwill and Other (Topic 805): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), which eliminates the Step 2 calculation for the implied fair value of goodwill to measure a goodwill impairment charge. Under the updated standard, an entity will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. ASU 2017-04 does not change the guidance on completing Step 1 of the goodwill impairment test and still allows an entity to perform the optional qualitative goodwill impairment assessment before determining whether to proceed to Step 1. This update is effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019 with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. We adopted ASU 2017-04 on January 1, 2020. This standard did not have a material impact on our financial position, results of operations, and disclosures.

In August 2018, the FASB released ASU 2018-13, Fair Value Measurement (Topic 820), which modifies the disclosure requirements on fair value measurements in Topic 820, including the consideration of costs and benefits. This update is effective for public entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. We adopted ASU 2018-13 on January 1, 2020. This standard did not have a material impact on our financial position, results of operations, and disclosures.

(y) Recently Adopted Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 amends the guidance in former Topic 605, Revenue Recognition, and most other existing revenue guidance in US GAAP. Under the new standard, an entity will recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which the entity expects to be entitled in exchange for those goods or services and provide additional disclosures. As amended, the effective date for public entities is annual reporting periods beginning after December 15, 2017 and interim periods therein. We adopted the standard on January 1, 2018, using the modified retrospective method. We implemented internal controls to enable the preparation of financial information upon adoption. The adoption of this standard did not have a material impact on our financial position and results of operations. See “Note 1. Background and Summary of Significant Accounting Policies; (i) Revenue Recognition” above for more detail regarding our disclosures.

In October 2016, the FASB released ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (“ASU 2016-16”). ASU 2016-16 removes the current exception in US GAAP prohibiting entities from recognizing current and deferred income tax expenses or benefits related to transfer of assets, other than inventory, within the consolidated entity. The current exception to defer the recognition of any tax impact on the transfer of inventory within the consolidated entity until it is sold to a third party remains unaffected. This update is effective for public entities for annual reporting periods beginning after December 15, 2017. We adopted ASU 2016-16 on January 1, 2018. This standard did not have a material impact on our financial position, results of operations, and disclosures.

In November 2016, the FASB released ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”), which requires that amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the total beginning and ending amounts for the periods shown on the statement of cash flows. Transfers between cash and cash equivalents and restricted cash and restricted cash equivalents will no longer be presented in the statement of cash flows. The amendments in this update should be applied using a retrospective transition method to each period presented. This update is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years; early adoption is permitted, including adoption in an interim

period. We adopted ASU 2016-18 on January 1, 2018. This standard did not have a material impact on our financial position, results of operations, and disclosures.

In January 2017, the FASB released ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The amendments in this ASU should be applied prospectively and are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early application permitted. No disclosures are required at transition. We adopted ASU 2017-01 on January 1, 2018. This standard did not have a material impact on our financial position, results of operations, and disclosures.

In May 2017, the FASB released ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”), which clarifies the changes to terms or conditions of a share-based payment award that requires application of modification accounting under Topic 718. A change to an award should be accounted for as a modification unless the fair value of the modified award is the same as the original award, the vesting conditions do not change, and the classification as an equity or liability instrument does not change. This update is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2017. Early application is permitted and prospective application is required for awards modified on or after the adoption date. We adopted ASU 2017-09 on January 1, 2018. This standard did not have a material impact on our financial position, results of operations, and disclosures.

In February 2016, the FASB released ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). Under ASU 2016-02, a right-of-use asset and lease obligation will be recorded for all leases with terms greater than 12 months, whether operating or financing, while the income statement will reflect lease expense for operating leases and amortization/interest expense for financing leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, with early adoption permitted, and permits modified retrospective method or cumulative-effect adjustment method. We adopted the standard on January 1, 2019, using the cumulative-effect adjustment transition method. As part of the adoption, we elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed carry forward of historical lease classifications. The adoption of this standard did not have a material impact on our financial position and results of operations. See “Note 14. Leases” for more detail regarding our disclosures.

In February 2018, the FASB released ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”). Prior to ASU 2018-02, GAAP required the remeasurement of deferred tax assets and liabilities as a result of a change in tax laws or rates to be presented in net income from continuing operations, even in situations in which the related income tax effects of items in accumulated other comprehensive income were originally recognized in other comprehensive income. As a result, such items, referred to as stranded tax effects, did not reflect the appropriate tax rate. Under ASU 2018-02, entities are permitted, but not required, to reclassify from accumulated other comprehensive income to retained earnings those stranded tax effects resulting from the Tax Act. ASU 2018-02 is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. We adopted ASU 2018-02 on January 1, 2019. Adoption of the standard did not have a material impact on our financial position, results of operations and disclosures.

In June 2018, the FASB released ASU 2018-07, Compensation—Stock Compensation (Topic 718), (“ASU 2018-07”), which expanded the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. ASU 2018-07 specifies that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. This update is effective for public entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. We adopted ASU 2018-07 on January 1, 2019. Adoption of the standard did not have a material impact on our financial position, results of operations, and disclosures.

RETIREMENT BENEFIT PLANS (Details) - USD ($) $ in Thousands	12 Months Ended
RETIREMENT BENEFIT PLANS (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Nondiscretionary employee contribution match rate	100.00%
Maximum annual contribution match, per employee	$ 6
Maximum annual contribution match, percent per employee	3.00%
401(k) and other retirement plan contributions	$ 5,363,000	$ 4,682,000	$ 3,597,000

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 443,573	$ 388,682
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(243,732)	(216,809)
Depreciation	38,924	32,042	$ 34,158
Property, Plant and Equipment, Net, Total	199,841	171,873
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	8,290	8,298
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 33,242	27,267
Property, Plant and Equipment, Useful Life	31 years 6 months
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 97,829	84,150
Instruments [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 253,929	219,451
Property, Plant and Equipment, Useful Life	5 years
Modules and cases [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 38,293	34,183
Property, Plant and Equipment, Useful Life	5 years
Other Property and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 11,990	$ 15,333
Maximum [Member] \| Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Maximum [Member] \| Other Property and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Minimum [Member] \| Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Minimum [Member] \| Other Property and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years

ACCRUED EXPENSES

12 Months Ended

Dec. 31, 2019

ACCRUED EXPENSES [Abstract]

Accrued Expenses

NOTE 9. ACCRUED EXPENSES



	December 31,
(In thousands)	2019		2018
Compensation and other employee-related costs	$	37,178	$	32,465
Legal and other settlements and expenses		1,538		6,684
Accrued non-income taxes		4,996		3,593
Royalties		2,370		2,500
Other		17,201		14,636
Total accrued expenses	$	63,283	$	59,878

LEASES (Future Minimum Lease Payments) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
LEASES [Abstract]
2020	$ 1,451
2021	553
2022	315
2023	226
2024	110
Thereafter	5
Total undiscounted leases payments	2,660
Less : imputed interest	179
Total operating lease liability	$ 2,481

EQUITY (Schedule of Issued and Outstanding Shares) (Details) - shares	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Common stock, shares issued	99,825,080	98,573,354
Common stock, shares outstanding	99,825,080	98,573,354
Common Class A [Member]
Class of Stock [Line Items]
Common stock, shares issued	77,394,983	76,143,257
Common stock, shares outstanding	77,394,983	76,143,257
Common Class B [Member]
Class of Stock [Line Items]
Common stock, shares issued	22,430,097	22,430,097
Common stock, shares outstanding	22,430,097	22,430,097
Common Class C [Member]
Class of Stock [Line Items]
Common stock, shares issued

SCHEDULE II - USD ($) $ in Thousands	12 Months Ended
SCHEDULE II - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Beginning Balance	$ 4,226	$ 3,963	$ 2,771
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	3,026	960	1,718
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	(1,653)	(697)	(526)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance	5,599	4,226	3,963
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Beginning Balance	2,683	1,821	83
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	163	924	511
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction		(62)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance	$ 2,846	$ 2,683	1,821
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account			$ 1,227

PROPERTY AND EQUIPMENT (Text Block)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 8. PROPERTY AND EQUIPMENT



	Useful	December 31,
(In thousands)	Life	2019		2018
Land	—	$	8,290	$	8,298
Buildings and improvements	31.5		33,242		27,267
Equipment	5-15		97,829		84,150
Instruments	5		253,929		219,451
Modules and cases	5		38,293		34,183
Other property and equipment	3-5		11,990		15,333
			443,573		388,682
Less: accumulated depreciation			(243,732)		(216,809)
Total		$	199,841	$	171,873

Instruments are hand-held devices used by surgeons to install implants during surgery. Modules and cases are used to store and transport the instruments and implants.

Depreciation expense related to property and equipment was as follows:



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
Depreciation	$	38,924	$	32,042	$	34,158

GOODWILL AND INTANGIBLE ASSETS (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
GOODWILL AND INTANGIBLE ASSETS [Abstract]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 13,859,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	13,623,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	13,070,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	11,012,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	8,046,000
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	19,202,000
Finite-Lived Intangible Assets, Net, Total	$ 78,812,000

SEGMENT AND GEOGRAPHIC INFORMATION (Geographic Location) (Details) - USD ($) $ in Thousands	3 Months Ended									9 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Sales By Geographic Area [Line Items]
Revenues	$ 211,667	$ 196,215	$ 194,539	$ 182,947	$ 195,938	$ 169,236	$ 173,384	$ 174,411	$ 176,034	$ 712,969	$ 785,368	$ 712,969	$ 635,977
United States [Member]
Schedule Of Sales By Geographic Area [Line Items]
Revenues										593,878	647,683		529,882
International [Member]
Schedule Of Sales By Geographic Area [Line Items]
Revenues										$ 119,091	$ 137,685		$ 106,095

RETIREMENT BENEFIT PLANS

12 Months Ended

Dec. 31, 2019

Retirement Benefits, Description [Abstract]

Defined Contribution Plan Disclosures [Table Text Block]

NOTE 16. RETIREMENT BENEFIT PLANS

We sponsor a 401(k) Plan covering all eligible U.S. employees. Under the 401(k) Plan, we make nondiscretionary matching contributions at the rate of 100% of employee’s contributions up to a maximum annual contribution of $6,000 per eligible employee, limited to 3% of the employee’s compensation for the period.

Additionally, we contribute to various foreign retirement benefit plans required by local law or coordinated with government sponsored plans which cover many of our international employees. The benefits offered under these plans are reflective of local customs and practices in the countries concerned.

Company contributions to these retirement plans were as follows:



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
401(k) and other retirement plan contributions	$	5,363	$	4,682	$	3,597

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ACCRUED EXPENSES [Abstract]
Compensation and other employee-related costs	$ 37,178	$ 32,465
Legal and other settlements and expenses	1,538	6,684
Accrued non-income taxes	4,996	3,593
Royalties	2,370	2,500
Other	17,201	14,636
Total accrued expenses	$ 63,283	$ 59,878

EQUITY (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated other comprehensive loss, net of tax	$ (6,907)	$ (7,172)	$ (6,907)
Other comprehensive income before reclassifications		5,439	(250)
Amounts reclassified from accumulated other comprehensive income, net of tax		(1,165)	(15)
Other comprehensive income/(loss), net of tax	(265)	4,274	(265)	$ 1,735
Accumulated other comprehensive loss, net of tax		(2,898)	(7,172)	(6,907)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Accumulated other comprehensive loss, net of tax	(313)	(168)	(313)
Other comprehensive income before reclassifications		4,932	160
Amounts reclassified from accumulated other comprehensive income, net of tax		(1,165)	(15)
Other comprehensive income/(loss), net of tax		3,767	145
Accumulated other comprehensive loss, net of tax		3,599	(168)	(313)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated other comprehensive loss, net of tax	$ (6,594)	(7,004)	(6,594)
Other comprehensive income before reclassifications		507	(410)
Other comprehensive income/(loss), net of tax		507	(410)
Accumulated other comprehensive loss, net of tax		$ (6,497)	$ (7,004)	$ (6,594)

STOCK-BASED COMPENSATION (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) ShareBasedCompensationPlan shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock plans \| ShareBasedCompensationPlan	3
Base number of shares that may be issuable under stock plan	3,076,923
Share Based Compensation Number Of Stock Plans \| ShareBasedCompensationPlan	3
Share Based Compensation Arrangement By Share Based Payment Award Base Number Of Shares Issuable	3,076,923
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	10,769,230
Annual percentage limit for incremental shares that may be issued	3.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	10,769,230
Share Based Compensation Arrangement By Share Based Payment Award Annual Percentage Increase In Shares Available For Issuance	3.00%
Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	795,058
Shares reserved under the 2012 Equity Incentive Plan	14,905,194
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	795,058
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	14,905,194
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum contractual term	10 years
Award vesting period	4 years
Unrecognized compensation expense, unvested stock options \| $	$ 60.6
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share Based Compensation By Share Based Payment Maximum Contractual Term	10 years

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Sep. 05, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents			$ 18,218	$ 48,040
Contingent consideration	$ 15,919	$ 9,549	9,549	10,118	$ 10,000
Contingent consideration, beginning balance	15,919	10,118
Contingent consideration currency translation loss/(gain)	(48)	(58)
Contingent Payments	(6,738)	(6,597)
Changes in fair value of contingent consideration	985	1,787
Contingent consideration, ending balance	$ 10,118	$ 9,549
Purchase price contingent consideration	—	4,299
Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Probability of Payment		75.00%
Projected Year Of Payment		2020
Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate		8.50%
Probability of Payment		100.00%
Projected Year Of Payment		2029
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents			4,988	259
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents			13,230	47,781
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration		$ 9,549	9,549	10,118
Contingent consideration, beginning balance		10,118
Contingent consideration, ending balance		$ 9,549
Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale			53,118	17,570
Municipal Bonds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale			53,118	17,570
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale			258,264	246,215
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale			258,264	246,215
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale			34,752	50,194
Commercial Paper [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale			34,752	50,194
Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale			166,711	140,181
Asset-backed Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale			166,711	140,181
Government, federal agency, and other sovereign obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale			12,432	8,894
Government, federal agency, and other sovereign obligations [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale			$ 12,432	$ 8,894
Measurement Input, Discount Rate [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate		4.70%

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Dec. 31, 2019 USD ($)
Prepaid royalty	$ 9.0
Accrual Reversal	2.5
Accrued Liabilities and Other Liabilities	2.5
Bianco Litigation [Member]
Payments for Legal Settlements	$ 11.5

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2019

STOCK-BASED COMPENSATION [Abstract]

Stock-Based Compensation

NOTE 12. STOCK-BASED COMPENSATION

We have three stock plans: our Amended and Restated 2003 Stock Plan, our 2008 Stock Plan, and our 2012 Equity Incentive Plan (the “2012 Plan”). The 2012 Plan is the only remaining active stock plan. The purpose of these stock plans was, and the 2012 Plan is, to provide incentive to employees, directors, and consultants of Globus. The Plans are administered by the Board of Directors of Globus (the “Board”) or its delegates. The number, type of option, exercise price, and vesting terms are determined by the Board or its delegates in accordance with the terms of the Plans. The options granted expire on a date specified by the Board, but generally not more than ten years from the grant date. Option grants to employees generally vest in varying installments over a four-year period.

The 2012 Plan was approved by our Board in March 2012, and by our stockholders in June 2012. Under the 2012 Plan, the aggregate number of shares of Class A Common stock that may be issued subject to options and other awards is equal to the sum of (i) 3,076,923 shares, (ii) any shares available for issuance under the 2008 Plan as of March 13, 2012, (iii) any shares underlying awards outstanding under the 2008 Plan as of March 13, 2012 that, on or after that date, are forfeited, terminated, expired or lapse for any reason, or are settled for cash without delivery of shares and (iv) starting January 1, 2013, an annual increase in the number of shares available under the 2012 Plan equal to up to 3% of the number of shares of our common and preferred stock outstanding at the end of the previous year, as determined by our Board. The number of shares that may be issued or transferred pursuant to incentive stock options under the 2012 Plan is limited to 10,769,230 shares. The shares of Class A Common stock covered by the 2012 Plan include authorized but unissued shares, treasury shares or shares of common stock purchased on the open market.

As of December 31, 2019, pursuant to the 2012 Plan, there were 14,905,194 shares of Class A Common stock reserved and 795,058 shares of Class A Common stock available for future grants.

The weighted average grant date fair value per share of the options awarded to employees were as follows:



	Year Ended
	December 31,
	2019		2018		2017
Weighted average grant date fair value per share	$	13.76	$	14.90	$	9.12

The fair value of the options was estimated on the date of the grant using a Black-Scholes option pricing model with the following assumptions:



	Year Ended
	December 31,
	2019			2018			2017
Risk-free interest rate	1.35%	-	2.57%	2.30%	-	3.09%	1.74%	-	2.20%
Expected term (years)	5.0			5.8	-	7.5	5.8	-	6.4
Expected volatility	29.0%			23.0%	-	28.0%	26.0%	-	29.0%
Expected dividend yield		—%			—%			—%

Stock option activity during the year ended December 31, 2019 is summarized as follows:



	Option ‎Shares (thousands)	Weighted ‎average ‎exercise ‎price		Weighted ‎average ‎remaining ‎contractual ‎life (years)	Aggregate ‎intrinsic ‎value ‎(thousands)
Outstanding at December 31, 2018	9,668	$	31.45
Granted	2,920		46.55
Exercised	(1,251)		24.86
Forfeited	(687)		40.08
Outstanding at December 31, 2019	10,650	$	35.80	7.3	$	245,781
Exercisable at December 31, 2019	5,063	$	27.44	6.0	$	159,155
Expected to vest at December 31, 2019	5,587	$	43.37	8.5	$	86,625

We use the Black Scholes pricing model to determine the fair value of our stock options (see “Note 1. Background and Summary of Significant Accounting Policies, (q) Stock-Based Compensation” above).

Compensation expense related to stock options granted to employees and non-employees under the Plans and the intrinsic value of stock options exercised was as follows:



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
Intrinsic value of stock options exercised	$	31,315	$	59,345	$	12,217

Stock-based compensation expense	$	26,085	$	21,899	$	14,686
Net stock-based compensation capitalized into inventory		331		320		196
Total stock-based compensation cost	$	26,416	$	22,219	$	14,882

As of December 31, 2019, there was $60.6 million of unrecognized compensation expense related to unvested employee stock options that vest over a weighted average period of three years.

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
INVENTORIES [Abstract]
Raw Materials	$ 33,025	$ 20,740
Work in process	15,940	13,179
Finished goods	147,349	97,335
Total inventories	$ 196,314	$ 131,254

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2019

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Measurements

NOTE 6. FAIR VALUE MEASUREMENTS

Under the accounting for fair value measurements and disclosures, fair value is defined as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or the liability in an orderly transaction between market participants on the measurement date. Additionally, a fair value hierarchy was established that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable inputs. The level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

Our assets and liabilities measured at fair value on a recurring basis are classified and disclosed in one of the following three categories:

Level 1—quoted prices (unadjusted) in active markets for identical assets and liabilities;

Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; and

Level 3—unobservable inputs in which there is little or no market data available, which require the reporting entity to use significant unobservable inputs or valuation techniques.

The fair value of our assets and liabilities measured at fair value on a recurring basis was as follows:



(In thousands)	Balance at ‎December 31, ‎2019		Level 1		Level 2		Level 3
Assets
Cash equivalents	$	18,218	$	4,988	$	13,230	$	—
Municipal bonds		53,118		—		53,118		—
Corporate debt securities		258,264		—		258,264		—
Commercial paper		34,752		—		34,752		—
Asset-backed securities		166,711		—		166,711		—
Government, federal agency, and other sovereign obligations		12,432		—		12,432		—
Liabilities
Business acquisition liabilities		9,549		—		—		9,549



(In thousands)	Balance at ‎December 31, ‎2018		Level 1		Level 2		Level 3
Assets
Cash equivalents	$	48,040	$	259	$	47,781	$	—
Municipal bonds		17,570		—		17,570		—
Corporate debt securities		246,215		—		246,215		—
Commercial paper		50,194		—		50,194		—
Asset-backed securities		140,181		—		140,181		—
Government, federal agency, and other sovereign obligations		8,894		—		8,894		—
Liabilities
Business acquisition liabilities		10,118		—		—		10,118

Our marketable securities are classified as Level 2 within the fair value hierarchy, as we measure their fair value using market prices for similar instruments and inputs such as actual trade data, benchmark yields, broker/dealer quotes and other similar data obtained from quoted market prices or independent pricing vendors.

Assets and Liabilities That Are Measured at Fair Value on a Nonrecurring Basis

The purchase price of business acquisitions is primarily allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition dates, with the excess recorded as goodwill. We utilize Level 3 inputs in the determination of the initial fair value. Non-financial assets such as goodwill, intangible assets, and property, plant, and equipment are subsequently measured at fair value when there is an indicator of impairment and recorded at fair value only when an impairment is recognized. We assess the impairment of intangible assets annually or whenever events or changes in circumstances indicate that the carrying amount of an intangible asset may not be recoverable. The fair value of our goodwill and intangible assets is not estimated if there is no change in events or circumstances that indicate the carrying amount of an intangible asset may not be recoverable.

Contingent consideration represents our contingent milestone, performance and revenue-sharing payment obligations related to our acquisitions and is measured at fair value, based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The valuation of contingent consideration uses assumptions we believe would be made by a market participant. We assess these estimates on an ongoing basis as additional data impacting the assumptions is obtained. The balances of the fair value of contingent consideration are recognized within business acquisition liabilities on our consolidated balance sheets, and the changes in the fair value of contingent consideration are recognized within acquisition related costs in the consolidated statements of income. As part of the StelKast Acquisition during the second quarter of 2019, we incurred a milestone-based contingent consideration liability.

The recurring Level 3 fair value measurements of our contingent consideration liabilities include the following significant unobservable inputs, which have not materially changed since December 31, 2018:



(In thousands)	Fair Value at December 31, 2019		Valuation ‎technique	Unobservable ‎input	Range
				Discount rate	4.7%	-	8.5%
Revenue-based payments	$	9,549	Discounted cash flow	Probability of payment	75%	-	100%
				Projected year of payment	2020	-	2029

The following table provides a reconciliation of the beginning and ending balances of contingent consideration:



	Year Ended
	December 31,
(In thousands)	2019		2018
Beginning balance	$	10,118	$	15,919
Purchase price contingent consideration		4,299		—
Changes resulting from foreign currency fluctuations		(58)		(48)
Contingent payments		(6,597)		(6,738)
Changes in fair value of business acquisition liabilities		1,787		985
Ending balance	$	9,549	$	10,118

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

LEASES

12 Months Ended

Dec. 31, 2019

LEASES [Abstract]

Leases

NOTE 14. LEASES

The Company leases certain equipment, vehicles, and facilities under operating leases. Our leases have initial lease terms ranging from one year to 14 years. Certain leases contain options to extend terms beyond the lease termination date. In these leases, we use judgment to determine whether it is reasonably possible that we will extend the lease beyond the initial term and the length of the possible extension. Leases that have terms of less than 12 months are treated as short-term and are not recognized as right of use assets or lease liabilities. As most leases do not provide an implicit rate, we use an incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. As of December 31, 2019, the Company’s short-term lease commitments and sublease income are immaterial.

The Company classifies right-of-use assets as Other assets, short-term lease liabilities as Accrued expenses, and long-term lease liabilities as Other liabilities on the Consolidated Balance Sheet. Lease expense is recognized, on a straight-line basis over the term of the lease, as a component of operating income on the Consolidated Statement of Income.

‎Amounts reported in the Consolidated Balance Sheet as of the twelve months ended December 31, 2019 are as follows:



(In thousands, except weighted average lease term and discount rate)
Operating leases:
Right of use assets	$	2,481

Lease liability - short term		1,339
Lease liability - long term		1,142
Total operating lease liability	$	2,481

Lease expense as of December 31, 2019	$	3,174

Weighted-average remaining lease term - operating leases (in years)		2.6

Weighted-average discount rate		3.4%

Future minimum lease payments under non-cancellable leases as of the quarter ended December 31, 2019 are as follows:



(In thousands)	Operating ‎Leases
2020	$	1,451
2021		553
2022		315
2023		226
2024		110
Thereafter		5
Total undiscounted leases payments	$	2,660
Less : imputed interest		179
Total lease liabilities	$	2,481

INVENTORIES

12 Months Ended

Dec. 31, 2019

INVENTORIES [Abstract]

Inventories

NOTE 7. INVENTORIES



	December 31,
(In thousands)	2019		2018
Raw materials	$	33,025	$	20,740
Work in process		15,940		13,179
Finished goods		147,349		97,335
Total inventories	$	196,314	$	131,254

EQUITY (Stockholders' Equity Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended								9 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity, beginning of period				$ 1,185,516				$ 967,778	$ 967,778	$ 1,185,516	$ 967,778	$ 832,078
Net income	$ 45,530	$ 38,307	$ 38,163	$ 33,210	$ 36,751	$ 35,208	$ 44,977	$ 39,538	156,474	155,210		107,348
Stock-based compensation cost										26,416	22,219	14,882
Exercise of stock options										31,036	39,311	11,735
Other comprehensive income									$ (265)	4,274	(265)	1,735
Total equity, end of period	$ 1,402,452				$ 1,185,516					$ 1,402,452	$ 1,185,516	$ 967,778

- Definition

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

+ References + Details

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	1 Months Ended	3 Months Ended									9 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summary Of Significant Accounting Policies [Line Items]
Medical Device Excise Tax Percentage												$ 2.3
Property Purchases in Accounts Payable and Accrued Expenses													$ 4,200,000	$ 10,100,000	$ 6,500,000
Inventory Sales and Disposals related Provisions													8,700,000	7,100,000	9,200,000
Excess and Obsolete related Provisions													11,200,000	17,600,000	20,700,000
Net Adjustment to Cost of Sales Related to Excess and Obsolete Inventory													2,500,000	10,500,000	11,500,000
Payable to Broker													10,300,000
Revenues		$ 211,667,000	$ 196,215,000	$ 194,539,000	$ 182,947,000	$ 195,938,000	$ 169,236,000	$ 173,384,000	$ 174,411,000	$ 176,034,000	$ 712,969,000		785,368,000	712,969,000	635,977,000
Cash and cash equivalents		195,474,000				139,647,000				118,817,000			195,474,000	139,647,000	118,817,000	$ 66,954,000
Restricted Cash		250,000				100,000							250,000	100,000		477,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		$ 195,724,000				$ 139,747,000				118,817,000			195,724,000	139,747,000	118,817,000	$ 67,431,000
Payments to Acquire Investments											537,942,000		346,526,000		392,895,000
Proceeds from Sale of Available-for-sale Securities											$ 106,388,000		$ 53,786,000		$ 122,512,000
Diluted		$ 0.44	$ 0.38	$ 0.38	$ 0.33	$ 0.36	$ 0.35	$ 0.44	$ 0.39		$ 1.54		$ 1.52		$ 1.10
Concentration Risk, Percentage													10.00%
Goodwill and Intangible Asset Impairment															$ 500,000
Proceeds from Sale of Other Assets	$ 5,000,000.0
Gain (Loss) on Disposition of Other Assets	$ 4,600,000
Advertising Expense													$ 1,100,000	1,900,000	1,500,000
Musculoskeletal Solutions [Member]
Summary Of Significant Accounting Policies [Line Items]
Revenues		$ 197,757,000				$ 181,638,000				165,114,000			738,377,000	666,040,000	625,057,000
Enabling Technologies [Member]
Summary Of Significant Accounting Policies [Line Items]
Revenues		$ 13,910,000				$ 14,300,000				$ 10,920,000			$ 46,991,000	$ 46,929,000	$ 10,920,000

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2019

STOCK-BASED COMPENSATION [Abstract]

Grants in Period, Weighted Average Grant Date Fair Value

The weighted average grant date fair value per share of the options awarded to employees were as follows:



	Year Ended
	December 31,
	2019		2018		2017
Weighted average grant date fair value per share	$	13.76	$	14.90	$	9.12

Summary of Stock Option Activity

Stock option activity during the year ended December 31, 2019 is summarized as follows:



	Option ‎Shares (thousands)	Weighted ‎average ‎exercise ‎price		Weighted ‎average ‎remaining ‎contractual ‎life (years)	Aggregate ‎intrinsic ‎value ‎(thousands)
Outstanding at December 31, 2018	9,668	$	31.45
Granted	2,920		46.55
Exercised	(1,251)		24.86
Forfeited	(687)		40.08
Outstanding at December 31, 2019	10,650	$	35.80	7.3	$	245,781
Exercisable at December 31, 2019	5,063	$	27.44	6.0	$	159,155
Expected to vest at December 31, 2019	5,587	$	43.37	8.5	$	86,625

Intrinsic Value and Stock-based Compensation Schedule

Compensation expense related to stock options granted to employees and non-employees under the Plans and the intrinsic value of stock options exercised was as follows:



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
Intrinsic value of stock options exercised	$	31,315	$	59,345	$	12,217

Stock-based compensation expense	$	26,085	$	21,899	$	14,686
Net stock-based compensation capitalized into inventory		331		320		196
Total stock-based compensation cost	$	26,416	$	22,219	$	14,882

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The fair value of the options was estimated on the date of the grant using a Black-Scholes option pricing model with the following assumptions:



	Year Ended
	December 31,
	2019			2018			2017
Risk-free interest rate	1.35%	-	2.57%	2.30%	-	3.09%	1.74%	-	2.20%
Expected term (years)	5.0			5.8	-	7.5	5.8	-	6.4
Expected volatility	29.0%			23.0%	-	28.0%	26.0%	-	29.0%
Expected dividend yield		—%			—%			—%

NOTE RECEIVABLE (Details) - USD ($) $ in Millions	12 Months Ended
NOTE RECEIVABLE (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 20, 2016	Sep. 01, 2016
Note Receivable [Line Items]
Proceeds from Collection of Notes Receivable	$ 29.3
Maximum [Member]
Note Receivable [Line Items]
Note Receivable, gross, noncurrent	$ 30.0
Minimum [Member]
Note Receivable [Line Items]
Note receivable, basis spread on variable rate	9.50%
Initial [Member]
Note Receivable [Line Items]
Note Receivable, gross, noncurrent			$ 25.0
Final [Member]
Note Receivable [Line Items]
Note Receivable, gross, noncurrent		$ 5.0
First Two Years [Member]
Note Receivable [Line Items]
Note receivable, basis spread on variable rate	8.00%
Last Three Years [Member]
Note Receivable [Line Items]
Note receivable, basis spread on variable rate	13.00%

Document and Entity Information $ in Billions	12 Months Ended
Document and Entity Information $ in Billions	Dec. 31, 2019 USD ($) shares
Document and Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Entity Registrant Name	GLOBUS MEDICAL, INC.
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding \| shares	99,835,463
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A Common Stock, par value $.001 per share
Trading Symbol	GMED
Security Exchange Name	NYSE
Entity File Number	001-35621
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3744954
Entity Address, Address Line One	2560 General Armistead Avenue
Entity Address, City or Town	Audubon
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19403
City Area Code	610
Local Phone Number	930-1800
Document Annual Report	true
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001237831
Current Fiscal Year End Date	--12-31
EntityPublicFloat \| $	$ 3.3
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2019

INVENTORIES [Abstract]

Schedule of Inventory



	December 31,
(In thousands)	2019		2018
Raw materials	$	33,025	$	20,740
Work in process		15,940		13,179
Finished goods		147,349		97,335
Total inventories	$	196,314	$	131,254

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2019

COMMITMENTS AND CONTINGENCIES [Abstract]

Commitments and Contingencies

NOTE 15. COMMITMENTS AND CONTINGENCIES

for these actions when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. In most cases, significant judgment is required to estimate the amount and timing of a loss to be recorded. While it is not possible to predict the outcome for most of the matters discussed, we believe it is possible that costs associated with them could have a material adverse impact on our consolidated earnings, financial position or cash flows.

L5 Litigation

In December 2009, we filed suit in the Court of Common Pleas of Montgomery County, Pennsylvania against our former exclusive independent distributor L5 Surgical, LLC and its principals, seeking an injunction and declaratory judgment concerning certain restrictive covenants made to L5 by its sales representatives. L5 brought counterclaims against us alleging tortious interference, unfair competition and conspiracy. The injunction phase was resolved in September 2010 and the remaining claims were fully resolved through settlement by the parties on February 6, 2019.

Bianco Litigation

On March 21, 2012, Sabatino Bianco filed suit against us in the Federal District Court for the Eastern District of Texas claiming that we misappropriated his trade secret and confidential information and improperly utilized it in developing our CALIBER^® product. On October 1, 2013, Bianco amended his complaint to claim that his trade secrets and confidential information were also used improperly in developing our RISE^® and CALIBER^®-L products.

On September 13, 2017, we settled this matter with Bianco for $11.5 million in cash, which resulted in the reversal of a previously recorded accrual of $2.5 million and the recording of $9.0 million in other assets that will be amortized through June 30, 2022, as a component of cost of goods sold.

Moskowitz Family LLC Litigation

On November 20, 2019, Moskowitz Family LLC filed suit against us in the U.S. District Court for the Western District of Texas for patent infringement. Moskowitz, a non-practicing entity, alleges that Globus willfully infringes one or more claims of eight patents by making, using, offering for sale or selling the Coalition^®, Coalition MIS^®, Coalition AGX^®, Monument^®, Independence^®, Independence MIS^®, Fortify^® and XPand^® families, Rise^®, Rise^® Intralif, Rise^®-L, ELSA^®, ELSA^® ATP, RASS, Altera^®, Ariel^®, Latis^®, Caliber^® and Caliber^®-L products. Moskowitz seeks an unspecified amount in damages and injunctive relief. The probable outcome of this litigation cannot be determined, nor can we estimate a range of potential loss. Therefore, in accordance with authoritative guidance on the evaluation of loss contingencies, we have not recorded an accrual related to this litigation.

In addition, we are subject to legal proceedings arising in the ordinary course of business.

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Current assets
Accounts receivable, allowances	$ 5,599,000		$ 4,226,000
Property and equipment
Accumulated depreciation	$ 243,732		$ 216,809
Equity
Common stock, shares authorized	785,000,000
Common stock, shares issued	99,825,080		98,573,354
Common stock, shares outstanding	99,825,080		98,573,354
Common Class A [Member]
Equity
Common stock, par value		$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000	500,000,000
Common stock, shares issued	77,394,983		76,143,257
Common stock, shares outstanding	77,394,983		76,143,257
Common Class B [Member]
Equity
Common stock, par value		$ 0.001	$ 0.001
Common stock, shares authorized	275,000,000	275,000,000	275,000,000
Common stock, shares issued	22,430,097		22,430,097
Common stock, shares outstanding	22,430,097		22,430,097

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss), Derivative Qualifying as Hedge, Excluded Component, Including Portion Attributable to Noncontrolling Interest [Member]	Retained Earnings [Member]	Total
Shares, Outstanding, Beginning Balance at Dec. 31, 2016	72,052	23,878
Total equity, beginning of period at Dec. 31, 2016	$ 72	$ 24	$ 211,725	$ (8,642)	$ 628,899	$ 832,078
Stock-based compensation			14,882			14,882
Exercise of stock options (shares)	728
Exercise of stock options	$ 1		11,734			11,735
Comprehensive Income (Loss)				1,735	107,348	109,083
Total equity, end of period at Dec. 31, 2017	$ 73	$ 24	238,341	(6,907)	736,247	967,778
Shares, Outstanding, Ending Balance at Dec. 31, 2017	72,780	23,878
Stock-based compensation			22,219			22,219
Exercise of stock options (shares)	1,917
Exercise of stock options	$ 2		39,309			39,311
Comprehensive Income (Loss)				(265)	156,474	156,209
Conversion of Stock, Shares Issued	1,447	(1,447)
Conversion of Stock, Amount Issued	$ 1	$ (1)
Total equity, end of period at Dec. 31, 2018	$ 76	$ 22	299,869	(7,172)	892,721	1,185,516
Shares, Outstanding, Ending Balance at Dec. 31, 2018	76,144	22,431
Stock-based compensation			26,416			$ 26,416
Exercise of stock options (shares)	1,250					1,251
Exercise of stock options	$ 1		31,035			$ 31,036
Comprehensive Income (Loss)				4,274	155,210	159,484
Total equity, end of period at Dec. 31, 2019	$ 77	$ 22	$ 357,320	$ (2,898)	$ 1,047,931	$ 1,402,452
Shares, Outstanding, Ending Balance at Dec. 31, 2019	77,394	22,431

QUARTERLY FINANCIAL DATA (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Data [Abstract]

Quarterly Financial Information [Table Text Block]

NOTE 18. QUARTERLY FINANCIAL DATA (unaudited)



	(unaudited)
	March 31,		June 30,		September 30,		December 31,
(In thousands, except per share amounts)	2019		2019		2019		2019
Sales	$	182,947	$	194,539	$	196,215	$	211,667
Gross profit		141,109		150,549		150,828		162,907
Net income		33,210		38,163		38,307		45,530
Net earnings per common share - basic		0.34		0.39		0.39		0.46
Net earnings per common share - diluted		0.33		0.38		0.38		0.44

* amounts might not add due to rounding



	(unaudited)
	March 31,		June 30,		September 30,		December 31,
(In thousands, except per share amounts)	2018		2018		2018		2018
Sales	$	174,411	$	173,384	$	169,236	$	195,938
Gross profit		136,441		135,747		131,387		149,984
Net income		39,538		44,977		35,208		36,751
Net earnings per common share - basic		0.41		0.46		0.36		0.37
Net earnings per common share - diluted		0.39		0.44		0.35		0.36

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)

12 Months Ended

Dec. 31, 2019

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Basis of Presentation

(b) Basis of Presentation

The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”).

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Globus and its wholly owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation.

Use of Estimates

(e) Foreign Currency Translation

Cash, Cash Equivalents, and Restricted Cash

Cash and cash equivalents include cash on hand and all highly liquid investments with a maturity of three months or less when purchased.



	December 31,
(In thousands)	2019		2018		2017		2016
Cash and cash equivalents	$	195,474	$	139,647	$	118,817	$	66,954
Restricted cash		250		100		—		477
Total cash, cash equivalents, and restricted cash as presented in the consolidated statement of cash flows	$	195,724	$	139,747	$	118,817	$	67,431

Marketable Securities

Purchases of marketable securities include payables to broker of $10.3 million during the twelve months ended December 31, 2019.

Inventories

Property and Equipment

(k) Goodwill and Intangible Assets

(l) Impairment of Long-Lived Assets

Revenue Recognition

Nature of Products and Services

Contract Balances

Disaggregation of Revenue

The following table represents total sales by revenue stream:



	Three Months Ended						Year Ended
	December 31,						December 31,
(In thousands)	2019		2018		2017		2019		2018		2017
Musculoskeletal Solutions products	$	197,757	$	181,638	$	165,114	$	738,377	$	666,040	$	625,057
Enabling Technologies products		13,910		14,300		10,920		46,991		46,929		10,920
Total sales	$	211,667	$	195,938	$	176,034	$	785,368	$	712,969	$	635,977

Recently Issued Accounting Pronouncements

(x) Recently Issued Accounting Pronouncements

(y) Recently Adopted Accounting Pronouncements

period. We adopted ASU 2016-18 on January 1, 2018. This standard did not have a material impact on our financial position, results of operations, and disclosures.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

(g) Concentrations of Credit Risk

There was no customer that accounted for 10% or more of sales for the years ended December 31, 2019, 2018, and 2017, respectively.

Cost of Goods and Service [Policy Text Block]

(n) Cost of Goods Sold

Research and Development Expense, Policy [Policy Text Block]

Research and Development

Share-based Payment Arrangement [Policy Text Block]

Stock-Based Compensation

Income Tax, Policy [Policy Text Block]

Income Taxes

Fair Value Measurement, Policy [Policy Text Block]

Fair Value of Financial Instruments

Advertising Cost [Policy Text Block]

Advertising Expense

We expense advertising costs as they are incurred. Advertising expense was $1.1 million, $1.9 million and $1.5 million, for the years ended December 31, 2019, 2018, and 2017, respectively.

Legal Costs, Policy [Policy Text Block]

Legal Costs

Business Combinations Policy [Policy Text Block]

Acquisition Related Costs

system conversion; and specific costs related to the consummation of the acquisition process such as banker fees, legal fees, and other acquisition related professional fees.

Other Income

In June 2018, we sold assets for $5.0 million, which resulted in a gain on sale of assets of $4.6 million.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

(e) Foreign Currency Translation

Goodwill and Intangible Assets, Policy [Policy Text Block]

(k) Goodwill and Intangible Assets

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

(l) Impairment of Long-Lived Assets

EQUITY (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Schedule of Issued and Outstanding Shares by Class

Our issued and outstanding common shares by Class were as follows:



(Shares)	Class A ‎Common	Class B ‎Common	Class C ‎Common	Total
December 31, 2019	77,394,983	22,430,097	—	99,825,080
December 31, 2018	76,143,257	22,430,097	—	98,573,354

Accumulated Other Comprehensive Income/(Loss), Net of Tax

The tables below present the changes in each component of accumulated other comprehensive income (loss), including current period other comprehensive loss and reclassifications out of accumulated other comprehensive income (loss):



	Unrealized loss on marketable securities, net of tax		Foreign currency translation adjustments		Accumulated other comprehensive loss
Accumulated other comprehensive loss, net of tax, at December 31, 2017	$	(313)		(6,594)		(6,907)
Other comprehensive loss before reclassifications		160		(410)		(250)
Amounts reclassified from accumulated other comprehensive loss, net of tax		(15)		—		(15)
Other comprehensive loss, net of tax		145		(410)		(265)
Accumulated other comprehensive loss, net of tax, at December 31, 2018		(168)		(7,004)		(7,172)
Other comprehensive (loss)/income before reclassifications		4,932		507		5,439
Amounts reclassified from accumulated other comprehensive loss, net of tax		(1,165)		-		(1,165)
Other comprehensive (loss)/income, net of tax		3,767		507		4,274
Accumulated other comprehensive loss, net of tax, at December 31, 2019		3,599		(6,497)		(2,898)

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21553-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21488-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21484-112644

Reference 14: 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

EQUITY

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Equity

NOTE 11. EQUITY

Our amended and restated Certificate of Incorporation provides for a total of 785,000,000 authorized shares of common stock. Of the authorized number of shares of common stock, 500,000,000 shares are designated as Class A common stock (“Class A Common”), 275,000,000 shares are designated as Class B common stock (“Class B Common”) and 10,000,000 shares are designated as Class C common stock (“Class C Common”).

The holders of Class A Common are entitled to one vote for each share of Class A Common held. The holders of Class B Common are entitled to 10 votes for each share of Class B Common held. The holders of Class A Common and Class B Common vote together as one class of common stock. The Class C Common is nonvoting. Except for voting rights, the Class A Common, Class B Common and Class C Common have the same rights and privileges.

Our issued and outstanding common shares by Class were as follows:



(Shares)	Class A ‎Common	Class B ‎Common	Class C ‎Common	Total
December 31, 2019	77,394,983	22,430,097	—	99,825,080
December 31, 2018	76,143,257	22,430,097	—	98,573,354



	Unrealized loss on marketable securities, net of tax		Foreign currency translation adjustments		Accumulated other comprehensive loss
Accumulated other comprehensive loss, net of tax, at December 31, 2017	$	(313)		(6,594)		(6,907)
Other comprehensive loss before reclassifications		160		(410)		(250)
Amounts reclassified from accumulated other comprehensive loss, net of tax		(15)		—		(15)
Other comprehensive loss, net of tax		145		(410)		(265)
Accumulated other comprehensive loss, net of tax, at December 31, 2018		(168)		(7,004)		(7,172)
Other comprehensive (loss)/income before reclassifications		4,932		507		5,439
Amounts reclassified from accumulated other comprehensive loss, net of tax		(1,165)		-		(1,165)
Other comprehensive (loss)/income, net of tax		3,767		507		4,274
Accumulated other comprehensive loss, net of tax, at December 31, 2019		3,599		(6,497)		(2,898)

Amounts reclassified from accumulated other comprehensive loss, net of tax, related to unrealized gains/losses on marketable securities were released to other income, net in our consolidated statements of income.

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule Of Reconciliation Of Cash And Cash Equivalents Restricted Cash And Cash Equivalents [Table Text Block]

Cash and cash equivalents include cash on hand and all highly liquid investments with a maturity of three months or less when purchased.



	December 31,
(In thousands)	2019		2018		2017		2016
Cash and cash equivalents	$	195,474	$	139,647	$	118,817	$	66,954
Restricted cash		250		100		—		477
Total cash, cash equivalents, and restricted cash as presented in the consolidated statement of cash flows	$	195,724	$	139,747	$	118,817	$	67,431

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenue

The following table represents total sales by revenue stream:



	Three Months Ended						Year Ended
	December 31,						December 31,
(In thousands)	2019		2018		2017		2019		2018		2017
Musculoskeletal Solutions products	$	197,757	$	181,638	$	165,114	$	738,377	$	666,040	$	625,057
Enabling Technologies products		13,910		14,300		10,920		46,991		46,929		10,920
Total sales	$	211,667	$	195,938	$	176,034	$	785,368	$	712,969	$	635,977

DEBT

12 Months Ended

Dec. 31, 2019

DEBT [Abstract]

Debt

NOTE 10. DEBT

Line of Credit

In May 2011, we entered into a credit agreement with Wells Fargo Bank related to a revolving credit facility that provides for borrowings up to $50.0 million. In June 2018, we amended the credit agreement to increase the revolving credit facility amount from $50.0 million to $125.0 million. At our request, and with the approval of the bank, the amount of borrowings available under the revolving credit facility can be increased to $150.0 million. The revolving credit facility includes up to a $25.0 million sub-limit for letters of credit. As amended to date, the revolving credit facility expires in May 2020. Cash advances bear interest at our option either at a fluctuating rate per annum equal to the daily LIBOR in effect for a one-month period plus 0.75%, or a fixed rate for a one- or three-month period equal to LIBOR plus 0.75%. The credit agreement governing the revolving credit facility also subjects us to various restrictive covenants, including the requirement to maintain maximum consolidated leverage. The covenants also include limitations on our ability to repurchase shares, to pay cash dividends or to enter into a sale transaction. As of December 31, 2019, we were in compliance with all financial covenants under the credit agreement, there were no outstanding borrowings under the revolving credit facility and available borrowings were $125.0 million. We may terminate the credit agreement at any time on ten days’ notice without premium or penalty.

SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 31, 2019

SEGMENT AND GEOGRAPHIC INFORMATION [Abstract]

Segment and Geographic Information

NOTE 17. SEGMENT AND GEOGRAPHIC INFORMATION

Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. We globally manage the business within one operating segment. Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance.

The following table represents total sales by geographic area, based on the location of the customer:



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
United States	$	647,683	$	593,878	$	529,882
International		137,685		119,091		106,095
Total sales	$	785,368	$	712,969	$	635,977

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2017
Condensed Consolidated Statements of Income [Abstract]
Sales	$ 712,969	$ 785,368	$ 635,977
Cost of goods sold	159,410	179,975	150,453
Gross profit	553,559	605,393	485,524
Operating expenses
Research and development	55,496	60,073	43,679
Selling, general and administrative	311,591	354,757	267,817
Amortization of intangibles	9,588	13,809	7,909
Acquisition related costs	1,681	2,575	1,611
Total operating expenses	384,234	433,404	323,684
Operating income	169,325	171,989	161,840
Interest income/(expense), net	13,278	17,406	6,608
Foreign currency transaction gain/(loss)	360	75	909
Other income/(expense)	5,642	476	571
Total other income/(expense), net	19,280	17,957	8,088
Income before income taxes	188,605	189,946	169,928
Income tax provision	32,131	34,736	62,580
Net income	$ 156,474	$ 155,210	$ 107,348
Earnings per share
Basic	$ 1.60	$ 1.57	$ 1.12
Diluted	$ 1.54	$ 1.52	$ 1.10
Weighted average shares outstanding
Basic	97,884	99,150	96,243
Dilutive stock options	3,432	2,848	1,644
Diluted	101,316	101,998	97,887
Anti-dilutive stock options excluded from weighted average calculation	2,451	4,494	2,873

STOCK-BASED COMPENSATION (Stock Option Activity) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of shares outstanding beginning balance \| shares	9,668
Number of shares granted \| shares	2,920
Number of shares exercised \| shares	(1,251)
Number of shares forfeited \| shares	(687)
Number of shares outstanding ending balance \| shares	10,650
Number of shares exercisable \| shares	5,063
Number of shares expected to vest \| shares	5,587
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Weighted average exercise price per share outstanding beginning balance \| $ / shares	$ 31.45
Weighted average exercise price per share granted \| $ / shares	46.55
Weighted average exercise price per share exercised \| $ / shares	24.86
Weighted average exercise price per share forfeited \| $ / shares	40.08
Weighted average exercise price per share outstanding ending balance \| $ / shares	35.80
Weighted average exercise price per share exercisable \| $ / shares	27.44
Weighted average exercise price per share expected to vest \| $ / shares	$ 43.37
Weighted average remaining contractual life outstanding	7 years 3 months 18 days
Weighted average remaining contractual life exercisable	6 years
Weighted average remaining contractual life expected to vest	8 years 6 months
Aggregate intrinsic value outstanding \| $	$ 245,781
Aggregate intrinsic value exercisable \| $	159,155
Aggregate intrinsic value expected to vest \| $	$ 86,625

INCOME TAXES

12 Months Ended

Dec. 31, 2019

INCOME TAXES [Abstract]

Income Taxes

NOTE 13. INCOME TAXES

The components of income before income taxes are as follows:



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
Domestic	$	179,194	$	180,701	$	155,051
Foreign		10,752		7,904		14,877
Total	$	189,946	$	188,605	$	169,928

The components of the provision for income taxes are as follows:



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
Current:
Federal	$	23,093	$	23,774	$	46,728
State		4,532		4,662		5,009
Foreign		2,819		2,724		2,638
		30,444		31,160		54,375
Deferred:
Federal		6,542		4,155		10,553
State		(68)		(587)		(1,123)
Foreign		(2,182)		(2,597)		(1,225)
		4,292		971		8,205
Total	$	34,736	$	32,131	$	62,580

A reconciliation of the statutory U.S. federal tax rate to our effective rate is as follows:



	Year Ended
	December 31,
	2019		2018		2017
Statutory U.S. federal tax rate	21.0	%	21.0	%	35.0	%
State income taxes, net of federal benefit	2.2		2.3		1.9
Foreign taxes	0.4		1.7		1.0
Domestic production activities deduction	(0.6)		(0.7)		(2.3)
Tax credits	(2.6)		(1.6)		(3.8)
Stock-based compensation windfall	(2.5)		(5.2)		(1.4)
Nondeductible expenses	0.3		(0.6)		0.1
Other	0.1		0.1		(0.2)
Tax reform impact	—		—		6.5
Effective tax rate	18.3	%	17.0	%	36.8	%



	December 31,
(In thousands)	2019		2018
Deferred tax assets:
Inventory reserve	$	26,381	$	25,398
Accruals, reserves, and other currently not deductible		8,620		10,377
Stock-based compensation		14,020		10,959
Net operating loss carryforwards		3,857		3,852
Total deferred tax assets		52,878		50,586
Valuation allowance		(2,846)		(2,683)
Total deferred tax assets, net of valuation allowance		50,032		47,903
Deferred tax liabilities:
Depreciation and amortization		(50,129)		(42,439)
Total deferred tax liabilities		(50,129)		(42,439)
Net deferred tax assets	$	(97)	$	5,464

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Based upon the level of historical taxable income and

projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that we will realize a portion of the benefits of these deductible differences at December 31, 2019 and 2018. The Company has established valuation allowances of $2.8 million and $2.7 million at December 31, 2019 and 2018, respectively, primarily related to the uncertainty of the utilization of certain deferred tax assets and primarily comprised of tax loss carryforwards in various jurisdictions. The increase in the valuation allowance during fiscal year 2019 is primarily driven by current year foreign tax losses that are not expected to be realized. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carryforward period are reduced.

As of December 31, 2019 and 2018, we have NOL carryforwards of $21.4 million and $24.0 million, respectively, which, if unused, will expire in years 2020 through 2037.

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



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
Unrecognized tax benefits at the beginning of the year	$	4,777	$	2,601	$	1,862
Additions related to current year tax positions		—		—		—
Additions related to prior year tax positions		—		2,176		739
Reductions related to prior year tax positions		(2,378)		—		—
Unrecognized tax benefits at the end of the year	$	2,399	$	4,777	$	2,601

The reductions related to prior year tax positions for the year ending December 31, 2019 of $2.4 million are primarily related to resolution of certain tax positions confirmed from refunds on amended tax returns.

The impact of our unrecognized tax benefits to the effective income tax rate is as follows:



	December 31,
(In thousands)	2019		2018		2017
Portion of total unrecognized tax benefits that, if recognized, would affect the effective income tax rate	$	2,878	$	4,084	$	2,076

The Company intends to indefinitely reinvest its foreign earnings abroad to ensure sufficient working capital for further expansion of its existing operations outside the United States, therefore the Company has not recorded income taxes on the undistributed earnings of its foreign subsidiaries. The undistributed earnings of our foreign subsidiaries as of December 31, 2019 are immaterial. In the event we are required to repatriate funds from outside of the United States, such repatriation may be subject to local laws, customs, and tax consequences.

Interest and penalties are recorded in the statement of income as provision for income taxes. The total interest and penalties recorded in the statement of income was nominal for the years ended December 31, 2019, 2018 and 2017. We do not expect a significant change in our uncertain tax benefits in the next twelve months. We are subject to federal income tax as well as income tax of multiple state and foreign jurisdictions. With few exceptions, we are no longer subject to income tax examination by tax authorities in major jurisdictions for years prior to 2014 as of December 31, 2019.

STOCK-BASED COMPENSATION (Assumptions) (Details)	12 Months Ended
STOCK-BASED COMPENSATION (Assumptions) (Details)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk Free Interest Rate, Minimum	1.35%
Risk Free Interest Rate, Maximum	2.57%
Expected Term	5 years
Expected Volatility Rate	29.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk Free Interest Rate, Maximum		3.09%	2.20%
Expected Volatility Rate, Maximum		28.00%	29.00%
Expected Term		7 years 6 months	6 years 4 months 24 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk Free Interest Rate, Minimum		2.30%	1.74%
Expected Volatility Rate, Minimum		23.00%	26.00%
Expected Term		5 years 9 months 18 days	5 years 9 months 18 days

MARKETABLE SECURITIES (Tables)

12 Months Ended

Dec. 31, 2019

MARKETABLE SECURITIES [Abstract]

Marketable Securities

The composition of our short-term and long-term marketable securities is as follows:



		December 31, 2019
(In thousands)	Contractual ‎Maturity ‎(in years)	Amortized ‎Cost		Gross ‎Unrealized ‎Gains		Gross Unrealized Losses		Fair ‎Value
Short-term:
Municipal bonds	Less than 1	$	7,840	$	23	$	(1)	$	7,862
Corporate debt securities	Less than 1		69,091		247		(3)		69,335
Commercial paper	Less than 1		34,747		6		(1)		34,752
U.S. government and agency securities	Less than 1		—		—		—		—
Asset-backed securities	Less than 1		3,808		6		—		3,814
Total short-term marketable securities		$	115,486	$	282	$	(5)	$	115,763

Long-term:
Municipal bonds	1 - 3	$	45,010	$	254	$	(8)	$	45,256
Corporate debt securities	1 - 3		186,356		2,578		(5)		188,929
Asset-backed securities	1 - 3		161,347		1,583		(33)		162,897
U.S. government and agency securities	1 - 2		12,366		66		—		12,432
Total long-term marketable securities		$	405,079	$	4,481	$	(46)	$	409,514



		December 31, 2018
(In thousands)	Contractual ‎Maturity ‎(in years)	Amortized ‎Cost		Gross ‎Unrealized ‎Gains		Gross ‎Unrealized ‎Losses		Fair ‎Value
Short-term:
Municipal bonds	Less than 1	$	14,923	$	—	$	(25)	$	14,898
Corporate debt securities	Less than 1		118,823		—		(185)		118,638
Commercial paper	Less than 1		50,202		3		(11)		50,194
U.S. government and agency securities	Less than 1		4,497		—		(1)		4,496
Asset-backed securities	Less than 1		11,765		—		(54)		11,711
Total short-term marketable securities		$	200,210	$	3	$	(276)	$	199,937

Long-term:
Municipal bonds	1 - 2	$	2,676	$	—	$	(4)	$	2,672
Corporate debt securities	1 - 3		127,676		196		(295)		127,577
Asset-backed securities	1 - 3		128,297		262		(89)		128,470
U.S. government and agency securities	1 - 3		4,411		—		(13)		4,398
Total long-term marketable securities		$	263,060	$	458	$	(401)	$	263,117

BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Business Combinations

NOTE 2. BUSINESS COMBINATIONS

During the second quarter of 2019, the Company acquired substantially all of the assets of StelKast, Inc. (the “StelKast Acquisition”), a privately held company that designs, manufactures and distributes orthopedic implants for knee and hip replacement surgeries. The Company has included the financial results from the StelKast Acquisition in our consolidated financial statements from the acquisition date, and the results from the StelKast Acquisition were not material to our consolidated financial statements. The fair value of the net assets acquired is $28.1 million. The purchase price consisted of approximately $23.8 million of cash paid at closing, plus a potential $4.3 million contingent consideration payment based on product sales milestones. The Company recorded identifiable net assets, based on their preliminary estimated fair values, related to inventory of $15.3 million, fixed assets of $4.2 million and customer relationships of $3.9 million and goodwill of $4.8 million. The majority of the goodwill is expected to be deductible for tax purposes.

As of December 31, 2019, the maximum aggregated undiscounted amount of contingent consideration potentially payable related to this acquisition is $5.0 million

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2019

GOODWILL AND INTANGIBLE ASSETS [Abstract]

Goodwill and Intangible Assets

NOTE 4. GOODWILL AND INTANGIBLE ASSETS

A summary of intangible assets is presented below:



		December 31, 2019
(In thousands)	Weighted Average Amortization Period (in years)	Gross ‎Carrying ‎Amount		Accumulated ‎Amortization		Intangible ‎Assets, ‎net
Supplier network	10.0	$	4,000	$	(2,067)	$	1,933
Customer relationships & other intangibles	7.0		46,766		(24,264)		22,502
Developed technology	8.6		57,577		(10,189)		47,388
Patents	16.0		8,662		(1,673)		6,989
Total intangible assets		$	117,005	$	(38,193)	$	78,812

Due to the FDA 510(k) clearance for AQRate, a robotic guidance and navigation system, in the first quarter of 2019, $19.8 million of IPR&D was transferred to Developed technology and began to be amortized over a period of 8.5 years.



		December 31, 2018
(In thousands)	Weighted Average Amortization Period (in years)	Gross ‎Carrying ‎Amount		Accumulated ‎Amortization		Intangible ‎Assets, ‎net
In-process research & development	—	$	19,813	$	—	$	19,813
Supplier network	10.0		4,000		(1,667)		2,333
Customer relationships & other intangibles	6.7		42,413		(17,746)		24,667
Developed technology	8.6		37,547		(3,498)		34,049
Patents	16.5		7,764		(1,303)		6,461
Total intangible assets		$	111,537	$	(24,214)	$	87,323

On September 5, 2018, we acquired Nemaris, Inc. (“Nemaris”), a privately held company that markets and develops Surgimap^®, a surgical planning software platform (“Nemaris Acquisition”). The assets of the Nemaris Acquisition consist primarily of developed technology. We determined that substantially all the fair value of the gross assets on the date of acquisition is captured in the developed technology and as a result, the Nemaris acquisition was accounted for as an asset purchase. We allocated the consideration paid of $15.2 million on a pro rata basis to the assets acquired on their respective fair values. The useful lives of the developed technology are seven years and will be amortized on a straight-line basis. In addition to the cash paid at closing, there is a potential $10.0 million contingent consideration payment based on product development milestones.

A summary of the net carrying value of goodwill is presented below:



(In thousands)
December 31, 2017	$	123,890
Additions and adjustments		—
Foreign exchange		(156)
December 31, 2018		123,734
Additions and adjustments		4,817
Foreign exchange		224
December 31, 2019	$	128,775

For intangible assets subject to amortization as of December 31, 2019, the following is the expected future amortization:



(In thousands)	Annual ‎Amortization
Year ending December 31:
2020	$	13,859
2021		13,623
2022		13,070
2023		11,012
2024		8,046
Thereafter		19,202
Total	$	78,812

STOCK-BASED COMPENSATION (Compensation Expense Related to Stock Options and Their Intrinsic Values) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2017
STOCK-BASED COMPENSATION [Abstract]
Intrinsic value of stock options exercised	$ 59,345	$ 31,315	$ 12,217
Stock-based compensation expense	21,899	26,085	14,686
Net stock-based compensation capitalized into inventory	320	331	196
Total stock-based compensation cost	$ 22,219	$ 26,416	$ 14,882

MARKETABLE SECURITIES (Details) - USD ($) $ in Thousands	12 Months Ended
MARKETABLE SECURITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Current	$ 115,763	$ 199,937
Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Probabilityof Payment	75.00%
Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Probabilityof Payment	100.00%
Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	$ 53,118	17,570
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	258,264	246,215
Commercial Paper [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	34,752	50,194
Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	166,711	140,181
Government, federal agency, and other sovereign obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	$ 12,432	$ 8,894
Short-term Investments [Member] \| Municipal Bonds [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Short-term Investments [Member] \| Corporate Debt Securities [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Short-term Investments [Member] \| Commercial Paper [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Short-term Investments [Member] \| Asset-backed Securities [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Short-term Investments [Member] \| Government, federal agency, and other sovereign obligations [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Other Long-term Investments [Member] \| Municipal Bonds [Member] \| Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Other Long-term Investments [Member] \| Municipal Bonds [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	3 years	2 years
Other Long-term Investments [Member] \| Corporate Debt Securities [Member] \| Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Other Long-term Investments [Member] \| Corporate Debt Securities [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	3 years	3 years
Other Long-term Investments [Member] \| Asset-backed Securities [Member] \| Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Other Long-term Investments [Member] \| Asset-backed Securities [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	3 years	3 years
Other Long-term Investments [Member] \| Government, federal agency, and other sovereign obligations [Member] \| Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Other Long-term Investments [Member] \| Government, federal agency, and other sovereign obligations [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	2 years	3 years
Fair Value, Measurements, Recurring [Member] \| Short-term Investments [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ (115,486)	$ (200,210)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	282	3
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(5)	(276)
Debt Securities, Available-for-sale		199,937
Debt Securities, Available-for-sale, Current	115,763
Fair Value, Measurements, Recurring [Member] \| Short-term Investments [Member] \| Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	(7,840)	(14,923)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	23
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(1)	(25)
Debt Securities, Available-for-sale	7,862	14,898
Fair Value, Measurements, Recurring [Member] \| Short-term Investments [Member] \| Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	(69,091)	(118,823)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	247
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(3)	(185)
Debt Securities, Available-for-sale	69,335	118,638
Fair Value, Measurements, Recurring [Member] \| Short-term Investments [Member] \| Commercial Paper [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	(34,747)	(50,202)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	6	3
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(1)	(11)
Debt Securities, Available-for-sale	34,752	50,194
Fair Value, Measurements, Recurring [Member] \| Short-term Investments [Member] \| Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	(3,808)	(11,765)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	6
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax		(54)
Debt Securities, Available-for-sale	3,814	11,711
Fair Value, Measurements, Recurring [Member] \| Short-term Investments [Member] \| Government, federal agency, and other sovereign obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost		(4,497)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax		(1)
Debt Securities, Available-for-sale		4,496
Fair Value, Measurements, Recurring [Member] \| Other Long-term Investments [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	(405,079)	(263,060)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	4,481	458
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(46)	(401)
Debt Securities, Available-for-sale	409,514	263,117
Fair Value, Measurements, Recurring [Member] \| Other Long-term Investments [Member] \| Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	(45,010)	(2,676)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	254
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(8)	(4)
Debt Securities, Available-for-sale	45,256	2,672
Fair Value, Measurements, Recurring [Member] \| Other Long-term Investments [Member] \| Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	(186,356)	(127,676)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	2,578	196
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(5)	(295)
Debt Securities, Available-for-sale	188,929	127,577
Fair Value, Measurements, Recurring [Member] \| Other Long-term Investments [Member] \| Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	(161,347)	(128,297)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	1,583	262
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(33)	(89)
Debt Securities, Available-for-sale	162,897	128,470
Fair Value, Measurements, Recurring [Member] \| Other Long-term Investments [Member] \| Government, federal agency, and other sovereign obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	(12,366)	(4,411)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	66
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax		(13)
Debt Securities, Available-for-sale	$ 12,432	$ 4,398

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2019

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value, Assets Measured on Recurring Basis



(In thousands)	Balance at ‎December 31, ‎2019		Level 1		Level 2		Level 3
Assets
Cash equivalents	$	18,218	$	4,988	$	13,230	$	—
Municipal bonds		53,118		—		53,118		—
Corporate debt securities		258,264		—		258,264		—
Commercial paper		34,752		—		34,752		—
Asset-backed securities		166,711		—		166,711		—
Government, federal agency, and other sovereign obligations		12,432		—		12,432		—
Liabilities
Business acquisition liabilities		9,549		—		—		9,549



(In thousands)	Balance at ‎December 31, ‎2018		Level 1		Level 2		Level 3
Assets
Cash equivalents	$	48,040	$	259	$	47,781	$	—
Municipal bonds		17,570		—		17,570		—
Corporate debt securities		246,215		—		246,215		—
Commercial paper		50,194		—		50,194		—
Asset-backed securities		140,181		—		140,181		—
Government, federal agency, and other sovereign obligations		8,894		—		8,894		—
Liabilities
Business acquisition liabilities		10,118		—		—		10,118

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]



(In thousands)	Fair Value at December 31, 2019		Valuation ‎technique	Unobservable ‎input	Range
				Discount rate	4.7%	-	8.5%
Revenue-based payments	$	9,549	Discounted cash flow	Probability of payment	75%	-	100%
				Projected year of payment	2020	-	2029

Rollforward of contingent consideration

The following table provides a reconciliation of the beginning and ending balances of contingent consideration:



	Year Ended
	December 31,
(In thousands)	2019		2018
Beginning balance	$	10,118	$	15,919
Purchase price contingent consideration		4,299		—
Changes resulting from foreign currency fluctuations		(58)		(48)
Contingent payments		(6,597)		(6,738)
Changes in fair value of business acquisition liabilities		1,787		985
Ending balance	$	9,549	$	10,118

STOCK-BASED COMPENSATION (Grant Date Fair Values of Options Awarded to Employees) (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2017
STOCK-BASED COMPENSATION [Abstract]
Weighted average grant date fair value per share	$ 14.90	$ 13.76	$ 9.12

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2019

GOODWILL AND INTANGIBLE ASSETS [Abstract]

Intangible Assets Acquired as Part of Business Combination

A summary of intangible assets is presented below:



		December 31, 2019
(In thousands)	Weighted Average Amortization Period (in years)	Gross ‎Carrying ‎Amount		Accumulated ‎Amortization		Intangible ‎Assets, ‎net
Supplier network	10.0	$	4,000	$	(2,067)	$	1,933
Customer relationships & other intangibles	7.0		46,766		(24,264)		22,502
Developed technology	8.6		57,577		(10,189)		47,388
Patents	16.0		8,662		(1,673)		6,989
Total intangible assets		$	117,005	$	(38,193)	$	78,812



		December 31, 2018
(In thousands)	Weighted Average Amortization Period (in years)	Gross ‎Carrying ‎Amount		Accumulated ‎Amortization		Intangible ‎Assets, ‎net
In-process research & development	—	$	19,813	$	—	$	19,813
Supplier network	10.0		4,000		(1,667)		2,333
Customer relationships & other intangibles	6.7		42,413		(17,746)		24,667
Developed technology	8.6		37,547		(3,498)		34,049
Patents	16.5		7,764		(1,303)		6,461
Total intangible assets		$	111,537	$	(24,214)	$	87,323

Schedule of Goodwill [Table Text Block]

A summary of the net carrying value of goodwill is presented below:



(In thousands)
December 31, 2017	$	123,890
Additions and adjustments		—
Foreign exchange		(156)
December 31, 2018		123,734
Additions and adjustments		4,817
Foreign exchange		224
December 31, 2019	$	128,775

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

For intangible assets subject to amortization as of December 31, 2019, the following is the expected future amortization:



(In thousands)	Annual ‎Amortization
Year ending December 31:
2020	$	13,859
2021		13,623
2022		13,070
2023		11,012
2024		8,046
Thereafter		19,202
Total	$	78,812

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2017
Cash flows from operating activities
Net income	$ 156,474	$ 155,210	$ 107,348
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	41,630	52,734	42,067
Amortization of premium (discount) on marketable securities	1,677	(1,089)	2,671
Write-down for excess and obsolete inventories	10,475	2,498	11,519
Stock-based compensation expense	21,899	26,085	14,686
Allowance for doubtful accounts	957	3,026	1,718
Change in fair value of business acquisition liabilities	985	1,787	1,240
Change in deferred income taxes	971	4,302	8,292
(Gain)/loss on disposal of assets, net	(3,557)	866
(Increase)/decrease in
Accounts receivable	(21,789)	(18,306)	(24,955)
Inventories	(31,382)	(50,018)	(5,277)
Prepaid expenses and other assets	(7,496)	(12,263)	(4,774)
Increase/(decrease) in
Accounts payable	(3,008)	773	9,843
Accrued expenses and other liabilities	14,728	7,043	(2,064)
Income taxes payable/receivable	(921)	(673)	(3,772)
Net cash provided by operating activities	181,643	171,975	159,058
Cash flows from investing activities
Purchases of marketable securities	(537,942)	(346,526)	(392,895)
Maturities of marketable securities	278,049	247,008	240,353
Sales of marketable securities	106,388	53,786	122,512
Purchases of property and equipment	(59,697)	(70,750)	(51,303)
Acquisition of businesses, net of cash acquired	(14,825)	(23,799)	(29,944)
Net cash used in investing activities	(193,027)	(140,281)	(111,277)
Proceeds from Sales of Assets, Investing Activities	5,000
Cash flows from financing activities
Payment of business acquisition liabilities	(6,739)	(6,597)	(10,109)
Proceeds from exercise of stock options	39,309	31,036	11,735
Net cash provided by financing activities	32,570	24,439	1,626
Effect of foreign exchange rate on cash	(256)	(156)	1,979
Net increase in cash, cash equivalents, and restricted cash	20,930	55,977	51,386
Cash, cash equivalents, and restricted cash at beginning of period	118,817	139,647	66,954
Cash, cash equivalents, and restricted cash at end of period		195,724	118,817
Supplemental disclosures of cash flow information
Interest paid	6	79	3
Income taxes paid	$ 30,552	$ 34,139	$ 59,111

BUSINESS COMBINATIONS (Details) - USD ($) $ in Millions		12 Months Ended
BUSINESS COMBINATIONS (Details) - USD ($) $ in Millions	Sep. 05, 2018	Dec. 31, 2019	May 14, 2019
Business Combinations [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		$ 15.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		4.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		3.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability		5.0	$ 4.3
Payments to Acquire Businesses, Gross	$ 15.2	23.8
Goodwill, Acquired During Period		4.8
Business Combination, Consideration Transferred		$ 28.1

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]



	Useful	December 31,
(In thousands)	Life	2019		2018
Land	—	$	8,290	$	8,298
Buildings and improvements	31.5		33,242		27,267
Equipment	5-15		97,829		84,150
Instruments	5		253,929		219,451
Modules and cases	5		38,293		34,183
Other property and equipment	3-5		11,990		15,333
			443,573		388,682
Less: accumulated depreciation			(243,732)		(216,809)
Total		$	199,841	$	171,873

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 05, 2018	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Acquired Intangible Assets [Line Items]
Payments to Acquire Businesses, Gross	$ 15,200	$ 23,800
Intangible Assets Gross		117,005	$ 111,537
Accumulated amortization		(38,193)	(24,214)
Intangible assets, net		78,812	87,323
Finite-lived intangible assets, net		78,812,000
Business Combination, Contingent Consideration, Liability	$ 10,000	$ 9,549	$ 10,118	$ 10,118	$ 15,919
In Process Research and Development [Member]
Acquired Intangible Assets [Line Items]
Weighted average amortization period		8 years 6 months
Finite-Lived Intangible Asset, Useful Life		8 years 6 months
Supplier Network [Member]
Acquired Intangible Assets [Line Items]
Weighted average amortization period		10 years	10 years
Gross carrying amount		$ 4,000	$ 4,000
Accumulated amortization		(2,067)	(1,667)
Intangible assets, net		$ 1,933	$ 2,333
Finite-Lived Intangible Asset, Useful Life		10 years	10 years
Customer Relationships [Member]
Acquired Intangible Assets [Line Items]
Weighted average amortization period		7 years	6 years 8 months 12 days
Gross carrying amount		$ 46,766	$ 42,413
Accumulated amortization		(24,264)	(17,746)
Intangible assets, net		$ 22,502	$ 24,667
Finite-Lived Intangible Asset, Useful Life		7 years	6 years 8 months 12 days
Developed Technology Rights [Member]
Acquired Intangible Assets [Line Items]
Intangible Assets, Explanation of Significant Additions		$19.8
Weighted average amortization period	7 years	8 years 7 months 6 days	8 years 7 months 6 days
Gross carrying amount		$ 57,577	$ 37,547
Accumulated amortization		(10,189)	(3,498)
Intangible assets, net		$ 47,388	$ 34,049
Intangible Assets, Explanation of Significant Additions		$19.8
Finite-Lived Intangible Asset, Useful Life	7 years	8 years 7 months 6 days	8 years 7 months 6 days
Patents [Member]
Acquired Intangible Assets [Line Items]
Weighted average amortization period		16 years	16 years 6 months
Gross carrying amount		$ 8,662	$ 7,764
Accumulated amortization		(1,673)	(1,303)
Intangible assets, net		$ 6,989	$ 6,461
Finite-Lived Intangible Asset, Useful Life		16 years	16 years 6 months
In Process Research and Development [Member]
Acquired Intangible Assets [Line Items]
Gross carrying amount			$ 19,813
Intangible assets, net			$ 19,813

LEASES (Schedule of Supplemental Balance Sheet Information Related to Leases) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
LEASES [Abstract]
Right of use assets	$ 2,481
Lease liability - short term	1,339
Lease liability - long term	1,142
Total operating lease liability	2,481
Lease expense as of June 30, 2019	$ 3,174
Weighted-average remaining lease term - operating leases (in years)	2 years 7 months 6 days
Weighted-average discount rate	0.034%

LEASES (Tables)

12 Months Ended

Dec. 31, 2019

LEASES [Abstract]

Schedule Of Supplemental Balance Sheet Information Related To Leases

Amounts reported in the Consolidated Balance Sheet as of the twelve months ended December 31, 2019 are as follows:



(In thousands, except weighted average lease term and discount rate)
Operating leases:
Right of use assets	$	2,481

Lease liability - short term		1,339
Lease liability - long term		1,142
Total operating lease liability	$	2,481

Lease expense as of December 31, 2019	$	3,174

Weighted-average remaining lease term - operating leases (in years)		2.6

Weighted-average discount rate		3.4%

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Future minimum lease payments under non-cancellable leases as of the quarter ended December 31, 2019 are as follows:



(In thousands)	Operating ‎Leases
2020	$	1,451
2021		553
2022		315
2023		226
2024		110
Thereafter		5
Total undiscounted leases payments	$	2,660
Less : imputed interest		179
Total lease liabilities	$	2,481

DEBT (Details) - USD ($) $ in Millions	12 Months Ended
DEBT (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2018	May 31, 2011
Debt Instrument [Line Items]
Credit facility, current borrowing capacity	$ 125.0	$ 50.0	$ 50.0
Credit facility, maximum borrowing capacity	$ 150.0
Credit facility, basis spread on variable rate	0.75%
Credit facility, termination period without penalty	10 days
Line Of Credit Variable Rate Per Annum [Member]
Debt Instrument [Line Items]
Credit facility, period of variable rate	1 month
Credit facility, basis spread on variable rate	0.0075%
Line Of Credit Fixed Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Credit facility, period of variable rate	1 month
Line Of Credit Fixed Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Credit facility, period of variable rate	3 months
Letter of Credit [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 25.0

INCOME TAXES (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Components of Deferred Tax Liabilities [Abstract]
Deferred Tax Liabilities, Depreciation and Amortization		$ (50,129)	$ (42,439)
Deferred Tax Liabilities, Gross		(50,129)	(42,439)
Deferred Tax Assets, Net			5,464
Components of Deferred Tax Assets [Abstract]
Deferred Tax Assets, Inventory		26,381	25,398
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals		8,620	10,377
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost		14,020	10,959
Deferred Tax Assets, Operating Loss Carryforwards, Foreign		3,857	3,852
Deferred Tax Assets, Gross		52,878	50,586
Deferred Tax Assets, Valuation Allowance		2,846	2,683
Deferred Tax Assets, Net of Valuation Allowance		50,032	$ 47,903
Deferred Tax Liabilities, Net		$ 97
Effective income tax rate		18.30%	17.00%	36.80%
Income (Loss) from Continuing Operations before Income Taxes, Domestic		$ 179,194	$ 180,701	$ 155,051
Income (Loss) from Continuing Operations before Income Taxes, Foreign		10,752	7,904	14,877
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	$ 188,605	189,946	188,605	169,928
Current Federal Tax Expense (Benefit)		23,093	23,774	46,728
Current State and Local Tax Expense (Benefit)		4,532	4,662	5,009
Current Foreign Tax Expense (Benefit)		2,819	2,724	2,638
Deferred Federal Income Tax Expense (Benefit)		6,542	4,155	10,553
Deferred State and Local Income Tax Expense (Benefit)		(68)	(587)	(1,123)
Deferred Foreign Income Tax Expense (Benefit)		(2,182)	(2,597)	(1,225)
Deferred Income Tax Expense (Benefit)		4,292	971	8,205
Current Income Tax Expense (Benefit)		30,444	31,160	54,375
Income Tax Expense (Benefit)	32,131	$ 34,736	$ 32,131	$ 62,580
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%	21.00%	35.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent		2.20%	2.30%	1.90%
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Percent		0.40%	1.70%	1.00%
Effective Income Tax Rate Reconciliation, Deduction, Qualified Production Activity, Percent		(0.60%)	(0.70%)	(2.30%)
Effective Income Tax Rate Reconciliation, Tax Credit, Percent		(2.60%)	(1.60%)	(3.80%)
Effective Income Tax Rate Reconciliation,Other Reconciling Items, Percent		(2.50%)	(5.20%)	(1.40%)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent		0.30%	(0.60%)	0.10%
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent		0.10%	0.10%	(0.20%)
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent				6.50%
Effective Income Tax Rate Reconciliation, Percent		18.30%	17.00%	36.80%
Unrecognized Tax Benefits, Beginning Balance	$ 2,601	$ 4,777	$ 2,601	$ 1,862
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions			2,176	739
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions		(2,378)
Unrecognized Tax Benefits, Ending Balance		2,399	4,777	2,601
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		2,878	4,084	$ 2,076
Operating Loss Carryforwards		21,400	24,000
Deferred Tax Assets, Valuation Allowance		(2,846)	$ (2,683)
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions		$ 2,378

NOTE RECEIVABLE

12 Months Ended

Dec. 31, 2019

NOTE RECEIVABLE [Abstract]

Note Receivable

NOTE 3. NOTE RECEIVABLE

On September 1, 2016, in connection with the acquisition of the international operations and distribution channels of Alphatec Holdings, Inc. (“Alphatec”), we entered into a Credit, Security and Guaranty Agreement (the “Credit Agreement”) with Alphatec and Alphatec Spine, Inc. (“Alphatec Spine” and together with Alphatec, the “Alphatec Borrowers”), pursuant to which we made available to the Alphatec Borrowers a senior secured term loan facility in an amount not to exceed $30.0 million. The term loan interest rate for the first two years following the Closing Date was priced at the London Interbank Offered Rate (“LIBOR”) plus 8.0%, subject to a 9.5% floor. The term loan interest rate thereafter was LIBOR plus 13.0%. On the Closing Date, we made an initial loan of $25.0 million and the Alphatec Borrowers issued a note for such amount to us. On December 20, 2016, the remaining $5.0 million was drawn by the Alphatec Borrowers and added to the note. On November 7, 2018, the Alphatec Borrowers repaid all of the then outstanding principal and interest under the Credit Agreement in a total amount of $29.3 million.

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

SEGMENT AND GEOGRAPHIC INFORMATION [Abstract]

Schedule Of Revenue From External Customers By Geographical Area International And Domestic [Table Text Block]

The following table represents total sales by geographic area, based on the location of the customer:



	Year Ended
	December 31,
(In thousands)	2019		2018		2017
United States	$	647,683	$	593,878	$	529,882
International		137,685		119,091		106,095
Total sales	$	785,368	$	712,969	$	635,977

QUARTERLY FINANCIAL DATA (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended									9 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Data [Abstract]
Revenues	$ 211,667	$ 196,215	$ 194,539	$ 182,947	$ 195,938	$ 169,236	$ 173,384	$ 174,411	$ 176,034	$ 712,969	$ 785,368	$ 712,969	$ 635,977
Gross Profit	162,907	150,828	150,549	141,109	149,984	131,387	135,747	136,441		553,559	605,393		485,524
Net Income (Loss) Attributable to Parent	$ 45,530	$ 38,307	$ 38,163	$ 33,210	$ 36,751	$ 35,208	$ 44,977	$ 39,538		$ 156,474	$ 155,210		$ 107,348
Earnings Per Share, Basic	$ 0.46	$ 0.39	$ 0.39	$ 0.34	$ 0.37	$ 0.36	$ 0.46	$ 0.41		$ 1.60	$ 1.57		$ 1.12
Earnings Per Share, Diluted	$ 0.44	$ 0.38	$ 0.38	$ 0.33	$ 0.36	$ 0.35	$ 0.44	$ 0.39		$ 1.54	$ 1.52		$ 1.10

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

+ Details

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

+ Details

- Definition

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

+ References + Details

LEASES (Narrative) (Details)	Dec. 31, 2019
LEASES [Abstract]
Lessee, Operating Lease, Term of Contract	12 months

ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2019

ACCRUED EXPENSES [Abstract]

Accrued Expenses



	December 31,
(In thousands)	2019		2018
Compensation and other employee-related costs	$	37,178	$	32,465
Legal and other settlements and expenses		1,538		6,684
Accrued non-income taxes		4,996		3,593
Royalties		2,370		2,500
Other		17,201		14,636
Total accrued expenses	$	63,283	$	59,878

MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2019

MARKETABLE SECURITIES [Abstract]

Marketable Securities

NOTE 5. MARKETABLE SECURITIES

The composition of our short-term and long-term marketable securities is as follows:



		December 31, 2019
(In thousands)	Contractual ‎Maturity ‎(in years)	Amortized ‎Cost		Gross ‎Unrealized ‎Gains		Gross Unrealized Losses		Fair ‎Value
Short-term:
Municipal bonds	Less than 1	$	7,840	$	23	$	(1)	$	7,862
Corporate debt securities	Less than 1		69,091		247		(3)		69,335
Commercial paper	Less than 1		34,747		6		(1)		34,752
U.S. government and agency securities	Less than 1		—		—		—		—
Asset-backed securities	Less than 1		3,808		6		—		3,814
Total short-term marketable securities		$	115,486	$	282	$	(5)	$	115,763

Long-term:
Municipal bonds	1 - 3	$	45,010	$	254	$	(8)	$	45,256
Corporate debt securities	1 - 3		186,356		2,578		(5)		188,929
Asset-backed securities	1 - 3		161,347		1,583		(33)		162,897
U.S. government and agency securities	1 - 2		12,366		66		—		12,432
Total long-term marketable securities		$	405,079	$	4,481	$	(46)	$	409,514



		December 31, 2018
(In thousands)	Contractual ‎Maturity ‎(in years)	Amortized ‎Cost		Gross ‎Unrealized ‎Gains		Gross ‎Unrealized ‎Losses		Fair ‎Value
Short-term:
Municipal bonds	Less than 1	$	14,923	$	—	$	(25)	$	14,898
Corporate debt securities	Less than 1		118,823		—		(185)		118,638
Commercial paper	Less than 1		50,202		3		(11)		50,194
U.S. government and agency securities	Less than 1		4,497		—		(1)		4,496
Asset-backed securities	Less than 1		11,765		—		(54)		11,711
Total short-term marketable securities		$	200,210	$	3	$	(276)	$	199,937

Long-term:
Municipal bonds	1 - 2	$	2,676	$	—	$	(4)	$	2,672
Corporate debt securities	1 - 3		127,676		196		(295)		127,577
Asset-backed securities	1 - 3		128,297		262		(89)		128,470
U.S. government and agency securities	1 - 3		4,411		—		(13)		4,398
Total long-term marketable securities		$	263,060	$	458	$	(401)	$	263,117

GOODWILL AND INTANGIBLE ASSETS (Goodwill Rollforward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
GOODWILL AND INTANGIBLE ASSETS [Abstract]
Goodwill	$ 128,775	$ 123,734	$ 123,890
Goodwill, Period Increase (Decrease)	4,817
Goodwill, Foreign Currency Translation Gain (Loss)	$ 224	$ (156)