Globus Medical (GMED) 10-K 29 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 19, 2016	Jun. 30, 2015
DEI [Abstract]
Entity Registrant Name	GLOBUS MEDICAL INC
Entity Central Index Key	1,237,831
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		95,373,243
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1,765,313,912

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 60,152	$ 82,265
Restricted cash	26,119	23,370
Short-term marketable securities	220,877	146,439
Accounts receivable, net of allowances of $2,513 and $1,647, respectively	77,681	75,430
Inventories	105,260	90,945
Prepaid expenses and other current assets	7,351	5,742
Income taxes receivable	8,672	5,772
Deferred income taxes	38,687	40,062
Total current assets	544,799	470,025
Property and equipment, net of accumulated depreciation of $139,114 and $118,544	114,743	69,475
Long-term marketable securities	48,762	75,347
Intangible assets, net	33,242	34,529
Goodwill	91,964	53,196
Other assets	590	975
Total assets	834,100	703,547
LIABILITIES AND EQUITY
Accounts payable	15,971	15,904
Accounts payable to related-party	0	5,359
Accrued expenses	53,769	61,499
Income taxes payable	763	569
Business acquisition liabilities, current	12,188	6,081
Total current liabilities	82,691	89,412
Business acquisition liabilities, net of current portion	21,126	20,195
Deferred income taxes	13,260	5,166
Other liabilities	1,699	3,320
Total liabilities	$ 118,776	$ 118,093
Commitments and contingencies (Note 14)
Equity:
Additional paid-in capital	$ 192,629	$ 175,242
Accumulated other comprehensive loss	(1,958)	(1,657)
Retained earnings	524,558	411,774
Total equity	715,324	585,454
Total liabilities and equity	834,100	703,547
Class A Common
Equity:
Common stock	71	71
Class B Common
Equity:
Common stock	$ 24	$ 24

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Allowance for doubtful accounts	$ 2,513	$ 1,647
Equity:
Common stock, shares authorized (in shares)	785,000,000
Common stock, shares issued	95,319,722	94,705,743
Common stock, shares outstanding	95,319,722	94,705,743
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 139,114	$ 118,544
Class A Common
Equity:
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued	71,442,166	70,828,187
Common stock, shares outstanding	71,442,166	70,828,187
Class B Common
Equity:
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	275,000,000	275,000,000
Common stock, shares issued	23,877,556	23,877,556
Common stock, shares outstanding	23,877,556	23,877,556

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Sales	$ 544,753	$ 474,371	$ 434,459
Cost of goods sold	132,803	110,857	100,343
Gross profit	411,950	363,514	334,116
Operating expenses:
Research and development	36,982	31,687	26,870
Selling, general and administrative	214,014	187,798	182,518
Provision for litigation	(11,268)	5,667	23,055
Total operating expenses	239,728	225,152	232,443
Operating income	172,222	138,362	101,673
Interest income, net	1,304	805	467
Foreign currency transaction loss	(1,159)	(899)	(804)
Other income	438	374	665
Other income, net	583	280	328
Income before income taxes	172,805	138,642	102,001
Income tax provision	60,021	46,157	33,389
Net income	$ 112,784	$ 92,485	$ 68,612
Earnings per share:
Basic	$ 1.19	$ 0.98	$ 0.74
Diluted	$ 1.17	$ 0.97	$ 0.73
Weighted average shares outstanding:
Basic	95,046	94,227	92,647
Dilutive stock options	1,027	1,230	1,545
Diluted	96,073	95,457	94,192
Anti-dilutive stock options excluded from weighted average calculation	3,348	1,666	1,975

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 112,784	$ 92,485	$ 68,612
Other comprehensive loss:
Unrealized gain/(loss) on marketable securities, net of tax	(55)	(96)	32
Change in accumulated foreign currency translation loss	(246)	(552)	(274)
Total other comprehensive loss	(301)	(648)	(242)
Comprehensive income	$ 112,483	$ 91,837	$ 68,370

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Retained Earnings	Class A CommonCommon Stock	Class B CommonCommon Stock
Balance, Shares at Dec. 31, 2012					63,892	27,378
Total stockholders' equity, beginning of period at Dec. 31, 2012	$ 386,502	$ 136,501	$ (767)	$ 250,677	$ 64	$ 27
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 5,177	5,177
Exercise of stock options (shares)	2,173				2,173
Exercise of stock options	$ 7,555	7,553			$ 2
Tax benefit related to nonqualified stock options excercised	4,756	4,756
Comprehensive income	68,370		(242)	68,612
Balance, Shares at Dec. 31, 2013					66,065	27,378
Total stockholders' equity, end of period at Dec. 31, 2013	472,360	153,987	(1,009)	319,289	$ 66	$ 27
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 7,111	7,111
Exercise of stock options (shares)	1,263				1,263
Exercise of stock options	$ 9,738	9,736			$ 2
Tax benefit related to nonqualified stock options excercised	4,408	4,408
Conversion of stock, converted (shares)						(3,500)
Conversion of stock, amount converted						$ (3)
Conversion of stock, issued (shares)					3,500
Conversion of stock, amount issued					$ 3
Comprehensive income	91,837		(648)	92,485
Balance, Shares at Dec. 31, 2014					70,828	23,878
Total stockholders' equity, end of period at Dec. 31, 2014	585,454	175,242	(1,657)	411,774	$ 71	$ 24
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 9,860	9,860
Exercise of stock options (shares)	614				614
Exercise of stock options	$ 5,477	5,477			$ 0
Tax benefit related to nonqualified stock options excercised	2,050	2,050
Comprehensive income	112,483		(301)	112,784
Balance, Shares at Dec. 31, 2015					71,442	23,878
Total stockholders' equity, end of period at Dec. 31, 2015	$ 715,324	$ 192,629	$ (1,958)	$ 524,558	$ 71	$ 24

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income	$ 112,784	$ 92,485	$ 68,612
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	24,084	21,754	19,397
Amortization of premium on marketable securities	3,354	2,680	2,358
Write-down for excess and obsolete inventories	9,924	6,962	8,212
Stock-based compensation expense	9,639	7,111	5,177
Excess tax benefit related to nonqualified stock options	(2,050)	(4,408)	(4,756)
Allowance for doubtful accounts	1,465	318	693
Change in deferred income taxes	6,235	(4,379)	(14,858)
Increase in:
Restricted cash	(2,749)	(23,370)	0
Accounts receivable	(4,193)	(12,667)	(9,612)
Inventories	(19,327)	(18,001)	(16,678)
Prepaid expenses and other assets	(1,203)	(249)	(2,955)
Increase/(decrease) in:
Accounts payable	(3,825)	4,628	1,840
Accounts payable to related party	(5,359)	2,703	100
Accrued expenses and other liabilities	(6,165)	4,018	26,963
Income taxes payable/receivable	(657)	(413)	8,978
Net cash provided by operating activities	121,957	79,172	93,471
Cash flows from investing activities:
Purchases of marketable securities	(297,707)	(251,422)	(240,892)
Maturities of marketable securities	188,702	184,567	40,560
Sales of marketable securities	57,728	27,737	13,637
Purchases of property and equipment	(50,760)	(24,754)	(23,680)
Acquisition of businesses, net of cash acquired	(48,513)	(36,128)	(16,775)
Net cash used in investing activities	(150,550)	(100,000)	(227,150)
Cash flows from financing activities:
Payment of business acquisition liabilities	(1,200)	(1,200)	(1,300)
Proceeds from exercise of stock options	5,477	9,738	7,555
Excess tax benefit related to nonqualified stock options	2,050	4,408	4,756
Net cash provided by financing activities	6,327	12,946	11,011
Effect of foreign exchange rate on cash	153	185	230
Net decrease in cash and cash equivalents	(22,113)	(7,697)	(122,438)
Cash and cash equivalents, beginning of period	82,265	89,962	212,400
Cash and cash equivalents, end of period	60,152	82,265	89,962
Supplemental disclosures of cash flow information:
Interest paid	9	32	96
Income taxes paid	$ 57,100	$ 51,096	$ 38,719

BACKGROUND AND SUMMARY OF SIGNI

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Background and Summary of Significant Accounting Policies	BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) The Company Globus Medical, Inc., together with its subsidiaries, is a medical device company focused on the design, development and commercialization of musculoskeletal implants. We are currently focused on implants that promote healing in patients with spine disorders. We have also recently begun to develop a robotic surgical navigation device and products to treat patients who have experienced orthopedic traumas, although those development efforts are still ongoing and we currently have no robotic or orthopedic trauma products that are cleared by the U.S. Food and Drug Administration for sale. We are an engineering-driven company with a history of rapidly developing and commercializing advanced products and procedures that assist surgeons in effectively treating their patients, respond to evolving surgeon needs and address new treatment options. Since our inception in 2003, we have launched over 150 products and offer a product portfolio addressing a broad array of spinal pathologies. 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 and 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”) for financial statements and with Regulation S-X. Certain reclassifications have been made to prior period statements to conform to the current period presentation. (c) 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. (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, 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. (e) Foreign Currency Translation The functional currency of our foreign subsidiaries is 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 operations. (f) Cash and Cash Equivalents Cash and cash equivalents include cash on hand and all highly liquid investments with a maturity of three months or less when purchased. (g) Restricted Cash In December 2014, we set aside cash for the payment of a portion of the Synthes and Bianco litigations. We classified this cash as restricted, as the amount was placed in escrow to be used for payment of the litigation obligations, should we not be successful with our appeals. As of December 31, 2015 , we have $26.1 million of restricted cash related to these matters. See “Note 14. Commitments and Contingencies” and “Note 19. Subsequent Events” below for more details regarding these litigation matters. (h) Accounts Receivable and Allowance for Doubtful Accounts The majority of our accounts receivable is composed of amounts due from hospitals. We carry our accounts receivable at cost less an allowance for doubtful accounts. On a regular basis, we evaluate our accounts receivable and estimate an allowance for doubtful accounts, as needed, based on various factors such as our customers’ current credit conditions, length of time past due, and the general economy as a whole. Receivables are written off against the allowance when they are deemed uncollectible. (i) Concentrations of Credit Risk Financial instruments, which potentially subject us to concentrations of credit risk, are primarily cash and cash equivalents 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, 2015 , 2014 , and 2013 , respectively. (j) Marketable Securities Our marketable securities include municipal bonds, corporate debt securities, commercial paper, securities of U.S. government-sponsored agencies and asset-backed securities, and are classified as available-for-sale as of December 31, 2015 . 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 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. (k) Inventories I nventories are stated at the lower of cost or market. Cost is determined on a first-in, first-out basis. The majority of our inventories are finished goods as we mainly utilize 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. (l) 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 operations. (m) 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. For the year ended December 31, 2015 , we performed a qualitative test for impairment as permitted under Financial Accounting Standards Board (“FASB”) authoritative guidance. During the years ended December 31, 2015 , 2014 and 2013 , we did not record any impairment charges related to goodwill. Intangible assets consist of purchased in-process research and development (“IPR&D”), 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. 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. We completed our annual qualitative indefinite lived intangible asset impairment review in the fourth quarter of 2015 and determined that our intangible assets were not impaired. (n) 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. We reviewed our long-lived assets and recorded an immaterial impairment charge as a component of cost of goods sold during 2013; there was no impairment of our long-lived assets during 2015 and 2014. (o) Revenue Recognition Revenue is recognized when persuasive evidence of an arrangement exists, product delivery has occurred, pricing is fixed or determinable, and collection is reasonably assured. A significant portion of our revenue is generated from consigned inventory maintained at hospitals or with sales representatives. For these products, revenue is recognized at the time the product is used or implanted. For all other transactions, we recognize revenue when title to the goods and risk of loss transfer to customers, provided there are no remaining performance obligations that will affect the customer’s final acceptance of the sale. Our policy is to classify shipping and handling costs billed to customers as sales and the related expenses as cost of goods sold. (p) 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. (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. As we became a publicly traded entity in 2012, historic volatility for our common stock is insufficient to estimate expected volatility. As a result, we estimate volatility based on a consistently defined peer group of public companies that we believe collectively provides a reasonable basis for estimating volatility. We intend to continue to use the consistently defined group of publicly traded peer companies to determine volatility in the future until sufficient information regarding volatility of the price of our shares of Class A common stock becomes available or the selected companies are no longer suitable for this purpose. The expected term of the stock options is determined utilizing the simplified method given the limited extent of our historical data. 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, 2015 , the carrying values of cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued expenses approximate their respective fair values based on their short-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 5. 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 $0.4 million , $0.5 million and $0.5 million , for the years ended December 31, 2015 , 2014 , and 2013 , respectively. (u) Legal Costs We expense legal costs related to loss contingencies as incurred. (v) 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 (collectively “PPACA”) 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 account for the MDET as a component of our cost of goods sold. For the years ended December 31, 2015 , 2014 and 2013 , we recognized expenses of $8.1 million , $7.1 million and $7.2 million , respectively. The Consolidated Appropriations Act of 2016, which was signed into law in December 2015, includes a two-year suspension on the medical device excise tax, effective January 1, 2016. Without further legislative action, the tax will automatically be reinstated for certain medical device sales in the United States starting on January 1, 2018. (w) Recently Issued Accounting Pronouncements In May 2014, the FASB and the International Accounting Standards Board released Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”) . ASU 2014-09 is designed to create greater comparability for financial statement users across industries and jurisdictions. 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. The standard also will require enhanced disclosures and provide more comprehensive guidance for transactions such as service revenue and contract modifications. The standard was to take effect for public companies for annual reporting periods beginning after December 15, 2016, and early adoption was prohibited. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. In August 2015, the FASB released ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU 2015-14”), which defers the effective date of ASU 2014-09 by one year while providing the option to early adopt the standard on the original effective date. We are currently evaluating the timing and impact of the new standard on our financial position, results of operations, and disclosures. In July 2015, the FASB released ASU 2015-11, Simplifying the Measurement of Inventory (Topic 330) (“ASU 2015-11”) as part of the FASB’s Simplification Initiative. This update is intended to more closely align the measurement of inventory under GAAP with the measurement of inventory under International Financial Reporting Standards. Within the scope of the update, an entity is required to measure inventory at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonable and predictable costs of completion, disposal and transportation. ASU 2015-11 is effective for all public entities for fiscal years beginning after December 31, 2016, including interim reporting periods within that period, and is required to be applied prospectively, with early adoption permitted. We are currently evaluating the impact of the new standard on our financial position, results of operations, and disclosures. In September 2015, the FASB released ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”). ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Prior to the issuance of the standard, entities were required to retrospectively apply adjustments made to provisional amounts recognized in a business combination. The amendments in ASU 2015-16 require an entity to present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted. The update is not expected to have a material impact on our financial position, results of operations, and disclosures. In November 2015, the FASB released ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes (“ASU 2015-17”). ASU 2015-17 simplifies the presentation of deferred income taxes by requiring that all deferred income taxes are classified as noncurrent in a classified statement of financial position. The amendments in ASU 2015-17 also aligns the presentation of deferred taxes with that of International Financial Reporting Standards. This update is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, with earlier application permitted for all entities as of the beginning of an interim or annual reporting period. The amendments in ASU 2015-17 may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. If an entity applies the guidance prospectively, the entity should disclose in the first interim and first annual period of change, the nature of and reason for the change in accounting principle and a statement that prior periods were not retrospectively adjusted. If an entity applies the guidance retrospectively, the entity should disclose in the first interim and first annual period of change the nature of and reason for the change in accounting principle and quantitative information about the effects of the accounting change on prior periods. We are currently evaluating the impact of the new standard on our financial position, results of operations, and disclosures.

ACQUISTIONS

ACQUISTIONS	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Business Acquisitions	ACQUISITIONS Branch Medical Group, Inc. On February 25, 2015, we entered into an agreement to acquire Branch Medical Group, Inc. (“BMG”), a related-party manufacturer of high precision medical devices located in Audubon, PA. We closed this acquisition on March 11, 2015, for $57.0 million in cash, $5.3 million in deferred consideration, and $0.9 million of closing working capital adjustments. The amount payable to BMG on the date of acquisition of $5.2 million was also settled in connection with the acquisition. As previously disclosed in our definitive proxy statement, BMG had been a related-party supplier since 2005. As of February 24, 2015, David C. Paul's wife, David D. Davidar's wife, and David M. Demski collectively owned approximately 49% of the outstanding stock of BMG. In addition, since February 2010, Mr. Paul's wife and Mr. Davidar's wife had served as directors of BMG. Prior to the acquisition, we purchased products and services from BMG pursuant to a standard Supplier Quality Agreement entered into in September 2010. We accounted for the acquisition under the purchase method of accounting, and as a result, recorded goodwill of $39.0 million . The results of operations of BMG have been included in our results of operations from the date of acquisition. Amounts recognized for assets acquired and liabilities assumed are based on purchase price allocations and on certain management judgments. These allocations are based on an analysis of the estimated fair values of assets acquired and liabilities assumed, including identifiable tangible assets, and estimates of the useful lives of tangible assets. We completed our final purchase price allocations during September 2015. The goodwill from this acquisition is not deductible for tax purposes. The table below represents the final purchase price allocation for the identifiable tangible and intangible assets and liabilities of BMG: (In thousands) Consideration: Cash paid at closing $ 57,042 Deferred consideration 5,290 Closing adjustments payable 944 Fair value of consideration $ 63,276 Identifiable assets acquired and liabilities assumed: Cash acquired $ 9,026 Accounts receivable 88 Inventory 4,753 Other assets 444 Property and equipment 14,862 Accounts payable and accrued expenses (1,585 ) Deferred tax liability, net (3,280 ) Total identifiable net assets 24,308 Goodwill 38,968 Total allocated purchase price $ 63,276 We believe the vertical integration opportunity afforded by BMG will strengthen Globus, both operationally and financially. We expect this acquisition, together with other investments in our in-house manufacturing capabilities, to enable us to achieve our goal of in-house production of approximately one-half of our spinal implant product purchases by 2018. The following updated unaudited pro forma information is based on historical data, and gives effect to our acquisition of BMG as if the acquisition had occurred on January 1, 2014. These unaudited pro forma results include adjustments having a continuing impact on our consolidated statements of income. These adjustments consist of: elimination of intercompany sales/purchase transactions and the related profit, adjustments to depreciation for the fair value and depreciable lives of property and equipment, adjustments in the capitalization of overhead costs and adjustments to tax expense based on consolidated pro forma results. These results have been prepared using assumptions our management believes are reasonable, but not necessarily indicative of the actual results that would have occurred if the acquisition had occurred on January 1, 2014, and are not necessarily indicative of the results that may be achieved in the future, including but not limited to operating synergies that we may realize as a result of the acquisition. Year Ended (pro forma, unaudited, in thousands, except per share amounts) December 31, December 31, Net sales $ 544,578 $ 474,544 Net income 115,915 92,945 Earnings per share: Basic $ 1.22 $ 0.99 Diluted $ 1.21 $ 0.97 Transplant Technologies of Texas, Ltd. On October 23, 2014, we entered into an equity interest purchase agreement with Transplant Technologies of Texas, Ltd. (“TTOT”), an allograft tissue processor located in San Antonio, Texas, pursuant to which we acquired 100% of the equity interests for $36.1 million . In addition to the initial purchase price, we may be obligated to make milestone payments of up to $15.0 million over the next three years based primarily on sales thresholds from the product lines we acquired. TTOT was privately held and provides human tissue products including bone allografts, biomaterials, and soft tissue products for spine, orthopedics, sports medicine, dental, and wound care markets and represents a key step in fulfilling our strategy of building a broad business in regenerative biologics. While we continue to partner with third party suppliers for some of our existing allograft products, the acquisition of TTOT expanded our suite of regenerative biologics products. We believe this acquisition will also improve our capabilities for the development of new and innovative human allograft tissue products in the future. We accounted for the acquisition under the purchase method of accounting, and as a result, recorded goodwill of $34.6 million . The results of operations of TTOT have been included in our results of operations from the date of acquisition. Pro forma supplemental financial information is not provided as the impact of the TTOT acquisition is immaterial to the operating results for the years ended December 31, 2014 and December 31, 2013. Amounts recognized for assets acquired and liabilities assumed are based on purchase price allocations and on certain management judgments. These allocations are based on an analysis of the estimated fair values of assets acquired and liabilities assumed, including identifiable tangible and intangible assets, and estimates of the useful lives of tangible and amortizable intangible assets. We completed our final purchase price allocations during March 2015 and the final purchase price adjustments subsequent to December 31, 2014 were not material. The goodwill from this acquisition is deductible for tax purposes. The table below represents the final purchase price allocation for the identifiable tangible and intangible assets of TTOT: (In thousands) Consideration: Cash paid at closing $ 36,128 Contingent consideration 11,300 (1) Fair value of consideration $ 47,428 Identifiable assets acquired and liabilities assumed: Inventory $ 9,599 Supplier network 4,000 Customer relationships 1,600 Accounts receivable 1,529 Equipment 518 Trade names 300 Other assets 292 Accounts payable and accrued expenses (5,034 ) Total identifiable net assets 12,804 Goodwill 34,624 Total allocated purchase price $ 47,428 (1) The contingent consideration relates to the achievement of certain sales milestones. As of December 31, 2014, the aggregate, undiscounted amount of contingent consideration that we could pay related to the acquisitions ranges from zero to $15.0 million (see “Note 5. Fair Value Measurements” below). Excelsius Surgical On December 23, 2013, we entered into an asset purchase agreement with Excelsius Surgical (“Excelsius”), a small robotics development company, pursuant to which we acquired substantially all of its assets for $16.8 million . In addition to the initial purchase price, we may be obligated to make a milestone payment and revenue sharing payments based upon a percentage of net sales of certain products based on the intellectual property we acquired in the transaction. Excelsius was privately held and is focused on developing a next generation surgical robotic positioning platform for spine, brain and therapeutic markets. The technology is intended to enable surgeons to perform minimally invasive and percutaneous surgical procedures with greater accuracy, safety and reproducibility than is currently available. We accounted for this acquisition under the purchase method of accounting, and as a result, recorded goodwill of $3.0 million . The goodwill from this acquisition is deductible for tax purposes. The table below represents the valuation of the assets acquired and liabilities assumed as part of this 2013 purchase: (In thousands) Identifiable intangible assets: In-process research & development $ 20,460 Non-compete agreements 20 Contingent consideration (6,704 ) (2) Total identifiable net assets 13,776 Goodwill 2,999 Net assets acquired $ 16,775 (2) The contingent consideration relates to the achievement of certain regulatory milestones and royalties. As of December 31, 2013, the aggregate, undiscounted amount of contingent consideration that we could pay related to the acquisitions ranged from zero to $14.3 million (see “Note 5. Fair Value Measurements” below). These acquisitions, which expand our product pipeline, did not have a material effect on our consolidated net sales or operating income for the years ended December 31, 2015 , 2014 or 2013 . The assets acquired and liabilities assumed as a result of the acquisitions were included in our consolidated balance sheet as of the acquisition dates. The purchase price for each of the acquisitions was primarily allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition dates. The fair value assigned to identifiable intangible assets acquired was determined primarily by using the income approach, which discounts expected future cash flows to present value using estimates and assumptions determined by management. Purchased identifiable intangible assets are amortized on a straight-line basis over their respective estimated useful lives. The excess purchase price over the value of the net tangible and identifiable intangible assets was recorded as goodwill. The following table provides a reconciliation of the beginning and ending balances of contingent payments associated with acquisitions during the years ended December 31, 2015 and December 31, 2014 : (In thousands) Balance at December 31, 2013 $ 14,177 Purchase price contingent consideration 11,300 Contingent payments (11 ) Changes in fair value of contingent consideration classified in operating expenses (1) (1,131 ) Balance at December 31, 2014 24,335 Purchase price contingent consideration — Contingent payments (836 ) Changes in fair value of contingent consideration classified in operating expenses (2) 3,118 Balance at December 31, 2015 $ 26,617 (1) Reduction in fair value during 2014 due primarily to reductions to a contingent royalty accrual, offset partially by increases in other royalty and milestone accruals. (2) Increase in fair value during 2015 due primarily to the achievement of a portion of the TTOT contingent consideration and the increase in the probability of achievement of the Excelsius milestone contingent consideration.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2015
Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure	INTANGIBLE ASSETS A summary of intangible assets is presented below: December 31, 2015 (In thousands) Weighted- Gross Accumulated Amortization Intangible In-process research & development — $ 24,560 $ — $ 24,560 Supplier network 10.0 4,000 (467 ) 3,533 Customer relationships & other intangibles 7.3 5,525 (2,384 ) 3,141 Patents 17.0 2,495 (487 ) 2,008 Total intangible assets $ 36,580 $ (3,338 ) $ 33,242 December 31, 2014 (In thousands) Weighted- Gross Accumulated Amortization Intangible In-process research & development — $ 24,560 $ — $ 24,560 Supplier network 10.0 3,800 (88 ) 3,712 Customer relationships & other intangibles 7.3 5,525 (1,344 ) 4,181 Patents 17.0 2,420 (344 ) 2,076 Total intangible assets $ 36,305 $ (1,776 ) $ 34,529 Amortization expense was as follows: Year Ended (in thousands) December 31, 2015 December 31, 2014 December 31, 2013 Intangible asset amortization expense $ 1,562 $ 710 $ 528 For intangible assets subject to amortization as of December 31, 2015 , the following is the expected future amortization: (In thousands) Annual Amortization Year ending December 31: 2016 $ 1,566 2017 1,432 2018 880 2019 876 2020 876 Thereafter 3,052 Total $ 8,682

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	Dec. 31, 2015
Marketable Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure	MARKETABLE SECURITIES The composition of our short-term and long-term marketable securities is as follows: December 31, 2015 (In thousands) Contractual Maturity (in years) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term: Municipal bonds Less than 1 $ 108,402 $ 15 $ (81 ) $ 108,336 Corporate debt securities Less than 1 53,759 2 (57 ) 53,704 Commercial paper Less than 1 42,149 3 (1 ) 42,151 Securities of U.S. government-sponsored agencies Less than 1 14,511 4 (4 ) 14,511 Asset backed securities Less than 1 2,175 — — 2,175 Total short-term marketable securities $ 220,996 $ 24 $ (143 ) $ 220,877 Long-term: Municipal bonds 1-2 $ 18,508 $ — $ (25 ) $ 18,483 Corporate debt securities 1-2 12,033 — (25 ) 12,008 Asset backed securities 1-2 18,294 — (23 ) 18,271 Total long-term marketable securities $ 48,835 $ — $ (73 ) $ 48,762 December 31, 2014 (In thousands) Contractual Maturity (in years) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term: Municipal bonds Less than 1 $ 28,684 $ 2 $ (3 ) $ 28,683 Corporate debt securities Less than 1 73,066 7 (42 ) 73,031 Commercial paper Less than 1 44,663 8 — 44,671 Asset backed securities Less than 1 54 — — 54 Total short-term marketable securities $ 146,467 $ 17 $ (45 ) $ 146,439 Long-term: Municipal bonds 1-2 $ 26,005 $ 3 $ (36 ) $ 25,972 Corporate debt securities 1-2 19,617 3 (22 ) 19,598 Asset backed securities 1-2 21,236 1 (8 ) 21,229 Securities of U.S. government-sponsored agencies 1-2 8,564 — (16 ) 8,548 Total long-term marketable securities $ 75,422 $ 7 $ (82 ) $ 75,347

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	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: Balance at (In thousands) December 31, Level 1 Level 2 Level 3 Assets Cash equivalents $ 12,700 $ 1,701 $ 10,999 $ — Municipal bonds 126,819 — 126,819 — Corporate debt securities 65,712 — 65,712 — Commercial paper 42,151 — 42,151 — Asset-backed securities 20,446 — 20,446 — Securities of U.S. government-sponsored agencies 14,511 — 14,511 — Liabilities Contingent consideration 26,617 — — 26,617 Balance at (In thousands) December 31, Level 1 Level 2 Level 3 Assets Cash equivalents $ 9,802 $ 1,302 $ 8,500 $ — Municipal bonds 54,655 — 54,655 — Corporate debt securities 92,629 — 92,629 — Commercial paper 44,671 — 44,671 — Asset-backed securities 21,283 — 21,283 — Securities of U.S. government-sponsored agencies 8,548 — 8,548 — Liabilities Contingent consideration 24,335 — — 24,335 Contingent consideration represents our contingent milestone, performance and revenue-sharing payment obligations related to our acquisitions and is measured at fair value and is 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, such as the probabilities associated with successfully completing clinical trials and obtaining regulatory approval, of achieving sales milestones and the period in which these milestones are expected to be achieved, as well as discount rates, which range from 3.1% to 13.5% . We assess these estimates on an ongoing basis as additional data impacting the assumptions is obtained. Changes in the fair value of contingent consideration related to updated assumptions and estimates are recognized within research and development and selling, general and administrative expenses in the consolidated statements of income. 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. We have not recorded impairment charges related to our business acquisitions.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventories	INVENTORIES (In thousands) December 31, 2015 December 31, 2014 Raw materials $ 12,308 $ 8,847 Work in process 7,091 2,490 Finished goods 85,861 79,608 Total $ 105,260 $ 90,945

PROPERTY & EQUIPMENT

PROPERTY & EQUIPMENT	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property And Equipment	PROPERTY AND EQUIPMENT (In thousands) Useful Life December 31, 2015 December 31, 2014 Land — $ 8,254 $ 4,116 Buildings and improvements 30 19,809 10,369 Equipment 5-7 40,998 17,783 Instruments 3 147,961 123,864 Modules and cases 3 28,519 25,155 Other property and equipment 3-5 8,316 6,732 253,857 188,019 Less: accumulated depreciation (139,114 ) (118,544 ) Total $ 114,743 $ 69,475 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 (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Depreciation $ 22,522 $ 21,044 $ 18,869

ACCRUED EXPENSES

ACCRUED EXPENSES	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued Expenses	ACCRUED EXPENSES (In thousands) December 31, December 31, Compensation and other employee-related costs $ 21,125 $ 19,933 Legal and other settlements and expenses 13,617 27,686 Accrued non-income taxes 6,808 4,720 Royalties 6,787 3,872 Other 5,432 5,288 Total accrued expenses $ 53,769 $ 61,499

DEBT

DEBT	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	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 . At our request, and with the approval of the bank, the amount of borrowings available under the revolving credit facility can be increased to $75.0 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 extends to May 2016 . 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, 2015 , 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 $50.0 million . We may terminate the credit agreement at any time on ten days’ notice without premium or penalty.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Equity	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 Total December 31, 2015 71,442,166 23,877,556 95,319,722 December 31, 2014 70,828,187 23,877,556 94,705,743

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	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, 2015 , pursuant to the 2012 Plan, there were 9,137,673 shares of Class A Common stock reserved and 3,548,783 shares of Class A Common stock available for future grants. The weighted average grant date per share fair values of the options awarded to employees were as follows: Year Ended December 31, December 31, December 31, Weighted average grant date per share fair value $ 8.63 $ 9.63 $ 6.34 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, December 31, December 31, Risk-free interest rate 1.39 % - 2.11 % 1.51 % - 1.95 % 0.98 % - 1.74 % Expected term (years) 5.1 - 9.9 5.3 - 6.4 6.1 - 6.4 Expected volatility 29.0 % - 38.0 % 35.0 % - 41.0 % 41.0 % - 44.0 % Expected dividend yield —% —% —% Stock option activity during the years ended December 31, 2015 , 2014 and 2013 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, 2012 6,253 $ 6.99 Granted 1,222 14.78 Exercised (2,173 ) 3.48 Forfeited (416 ) 12.23 Outstanding at December 31, 2013 4,886 10.04 Granted 1,495 23.45 Exercised (1,263 ) 7.71 Forfeited (264 ) 15.33 Outstanding at December 31, 2014 4,854 14.50 Granted 2,828 24.69 Exercised (614 ) 8.92 Forfeited (391 ) 17.84 Outstanding at December 31, 2015 6,677 19.14 7.6 $ 57,987 Exercisable at December 31, 2015 2,759 12.96 5.7 40,995 Expected to vest at December 31, 2015 3,918 $ 23.48 9.0 $ 16,992 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 (In thousands) December 31, December 31, December 31, Intrinsic value of stock options exercised $ 9,984 $ 20,216 $ 25,034 Stock-based compensation expense $ 9,639 $ 7,111 $ 5,177 Net stock-based compensation capitalized into inventory 221 — — Total stock-based compensation cost $ 9,860 $ 7,111 $ 5,177 As of December 31, 2015 , there was $27.9 million of unrecognized compensation expense related to unvested employee stock options that vest over a weighted average period of three years.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The components of income before income taxes are as follows: Year ended (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Domestic $ 171,278 $ 137,643 $ 101,424 Foreign 1,527 999 577 Total $ 172,805 $ 138,642 $ 102,001 The components of the provision/(benefit) for income taxes are as follows: Year ended (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Current: Federal $ 45,813 $ 43,561 $ 41,741 State 7,193 6,097 6,118 Foreign 673 519 912 53,679 50,177 48,771 Deferred: Federal 5,926 (3,630 ) (14,088 ) State 480 (357 ) (1,210 ) Foreign (64 ) (33 ) (84 ) 6,342 (4,020 ) (15,382 ) Total $ 60,021 $ 46,157 $ 33,389 A reconciliation of the statutory U.S. federal tax rate to our effective rate is as follows: Year ended December 31, 2015 December 31, 2014 December 31, 2013 Statutory U.S. federal tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 3.0 2.6 2.8 Domestic production activities deduction (2.6 ) (2.7 ) (3.5 ) Tax credits (0.9 ) (1.2 ) (1.7 ) Nondeductible expenses 0.3 0.7 1.7 Other (0.1 ) (1.1 ) (1.6 ) Effective tax rate 34.7 % 33.3 % 32.7 % 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: (In thousands) December 31, 2015 December 31, 2014 Deferred tax assets: Inventory reserve $ 26,741 $ 22,808 Accruals, reserves, and other currently not deductible 13,091 19,043 Stock-based compensation 8,014 5,548 Foreign net operating loss carryforwards 329 418 Total deferred tax assets 48,175 47,817 Valuation allowance (43 ) (45 ) Total deferred tax assets, net of valuation allowance 48,132 47,772 Deferred tax liabilities: Depreciation and amortization (20,070 ) (9,865 ) Other (2,354 ) (2,643 ) Total deferred tax liabilities (22,424 ) (12,508 ) Net deferred tax assets $ 25,708 $ 35,264 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 the benefits of these deductible differences at December 31, 2015 . 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. Of the amounts presented above , $0.3 million and $0.4 million of long-term deferred tax assets is included as a component of other assets on our consolidated balance sheet as of December 31, 2015 and 2014 , respectively. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Year ended (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Unrecognized tax benefits at the beginning of the year $ 3,228 $ 3,978 $ 3,500 Additions related to current year tax positions 316 — 661 Additions related to prior year tax positions 261 614 64 Reductions related to prior year tax positions (2,230 ) (209 ) (109 ) Lapse of statute of limitations — (202 ) (138 ) Settlements — (953 ) — Unrecognized tax benefits at the end of the year $ 1,575 $ 3,228 $ 3,978 The impact of our unrecognized tax benefits to the effective income tax rate is as follows: (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Portion of total unrecognized tax benefits that, if recognized, would affect the effective income tax rate $ 1,335 $ 838 $ 1,184 We have not recorded income taxes on the undistributed earnings of our foreign subsidiaries based upon our intention to indefinitely reinvest undistributed earnings to ensure sufficient working capital and further expansion of existing operations outside the United States. The undistributed earnings of our foreign subsidiaries as of December 31, 2015 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 operations as provision for income taxes. The total interest and penalties recorded in the statement of operations was nominal for the years ended December 31, 2015 , 2014 and 2013 . Our uncertain tax benefits could increase in the next twelve months as we continue our current transfer pricing policies. We do not expect a significant change in our uncertain tax benefits in the next twelve months. In 2014, we settled the IRS audits of 2011 and 2012 tax years, resulting in no adjustments. The tax years that remained subject to examination by a major tax jurisdiction as of December 31, 2015 were 2009 and beyond for Switzerland; 2010 and beyond for India and Poland; 2011 and beyond for Germany, Denmark, Sweden, Israel and Australia; 2012 and beyond for the United Kingdom, Belgium and South Africa; 2013 and beyond for the Netherlands, and France; 2014 and beyond for Austria. On December 18, 2015 the Protecting Americans from Tax Hikes Act of 2015 (the “PATH”) was signed into law. One of the provisions of PATH was the permanent extension of Internal Revenue Code section 41 research and development tax credit. As of December 31, 2015 a benefit was recognized for this tax credit and is included in the 2015 tax provision. On December 19, 2014, the Tax Increase Prevention Act of 2014 (the “TIPA”) was signed into law. One of the provisions of the TIPA was the reinstatement of the research and experimentation tax credit from January 1, 2014 through December 31, 2014. As of December 31, 2014 a benefit was recognized for this tax credit and is included in the 2014 tax provision. On January 2, 2013, the American Taxpayer Relief Act of 2012 (the “ATRA”) was signed into law. One of the provisions of the ATRA was a reinstatement and extension of the research and experimentation tax credit from January 1, 2012 through December 31, 2013. However, as of December 31, 2012 no benefit could be recognized for this tax credit due to the passage of the ATRA in 2013. A s the passage of the ATRA occurred in 2013, the entire reinstated credit for the year ended December 31, 2012 of $0.9 million was recognized in 2013 in accordance with accounting guidance.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2015
Leases, Operating [Abstract]
Leases	LEASES The Company leases certain equipment and facilities under operating leases. As of December 31, 2015 , minimum future rental payments under operating leases for each of the next five years are as follows: (In thousands) Year ending December 31: 2016 $ 888 2017 625 2018 294 2019 84 2020 39 Thereafter — Total $ 1,930 Rent expense related to all operating leases recognized as a component of selling, general and administrative expenses was as follows: Year ended (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Rent expense $ 1,113 $ 676 $ 424

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES 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 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. N-Spine, Synthes and Depuy Synthes Litigation In April 2010, N-Spine, Inc. and Synthes USA Sales, LLC filed suit against us in the U.S. District Court for the District of Delaware for patent infringement. N-Spine, the patent owner, and Synthes USA, a licensee of the subject patent, allege that we infringe one or more claims of the patent by making, using, offering for sale or selling our TRANSITION ® stabilization system product. N-Spine and Synthes USA sought injunctive relief and an unspecified amount in damages. This matter was one of the four patent infringement lawsuits concerning spinal implant technologies between Globus Medical, Inc. and DePuy Synthes settled on January 13, 2016 for $7.9 million . In a related matter, on January 8, 2014, Depuy Synthes Products, LLC (“Depuy Synthes”) filed suit against us in the U.S. District Court for the District of Delaware for patent infringement. Depuy Synthes alleges that we infringe one or more claims of the asserted patent by making, using, offering for sale or selling our TRANSITION ® stabilization system product. Depuy Synthes seeks injunctive relief and an unspecified amount in damages. This matter was one of the four patent infringement lawsuits concerning spinal implant technologies between Globus Medical, Inc. and DePuy Synthes settled on January 13, 2016 for $7.9 million . Synthes USA, LLC, Synthes USA Products, LLC and Synthes USA Sales, LLC Litigation In July 2011, Synthes USA, LLC, Synthes USA Products, LLC and Synthes USA Sales, LLC filed suit against us in the U.S. District Court for the District of Delaware for patent infringement. Synthes USA LLC, the patent owner, Synthes USA Products, LLC, a licensee to manufacture products of the subject patents, and Synthes USA Sales LLC, a licensee to sell products of the subject patents, allege that we infringe one or more claims of three patents by making, using, offering for sale or selling our COALITION ® , INDEPENDENCE ® and INTERCONTINENTAL ® products. This matter was one of the four patent infringement lawsuits concerning spinal implant technologies between Globus Medical, Inc. and DePuy Synthes settled on January 13, 2016 for $7.9 million . 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 this matter is now in the discovery phase of litigation on the underlying damages claims. We intend to defend our rights vigorously. 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. 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. Bianco alleges that we engaged in misappropriation of trade secrets, breach of contract, unfair competition, fraud and theft and seeks correction of inventorship, injunctive relief and exemplary damages. On April 20, 2012, Bianco filed a motion for a preliminary injunction, seeking to enjoin us from making, using, selling, importing or offering for sale our CALIBER ® product. On November 15, 2012, the court denied Bianco’s motion for preliminary injunction. 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 January 17, 2014, the jury in this case returned a verdict in favor of Bianco on a claim of misappropriation of trade secret. We accrued the verdict amount of $4.3 million as of December 31, 2013. The jury found against Bianco on the claims of breach of contract and disgorgement of profits. The court granted our motion for judgment as a matter of law and dismissed Bianco’s claims for unfair competition, fraud, and exemplary damages, and Bianco abandoned the claim of misappropriation of confidential information. Bianco’s claims of correction of inventorship, unjust enrichment, and permanent injunctive relief were not submitted to the jury. On March 7, 2014, the court denied Bianco’s claim for correction of inventorship and ruled he is not entitled to be named as a co-inventor on any of the patents at issue, and also denied his claim for unjust enrichment. On March 17, 2014, the court denied Bianco’s claim for permanent injunctive relief. On July 2, 2014, the court awarded Bianco an ongoing royalty of 5% of the net sales of the CALIBER ® , CALIBER ® -L, and RISE ® products, or products that are not colorably different from those products, for a fifteen year period on sales starting on January 18, 2014. The court entered final judgment on the jury verdict on July 17, 2014. On October 19, 2015, the United States Federal Circuit Court of Appeals affirmed the judgment without opinion. We are considering our options for further appeal. We do not expect the judgment to impact our ability to conduct our business or to have any material impact on our future revenues. Bonutti Skeletal Innovations, LLC Litigation On November 19, 2014, Bonutti Skeletal Innovations, LLC filed suit against us in the U.S. District Court for the Eastern District of Pennsylvania for patent infringement. Bonutti Skeletal, a non-practicing entity, alleges that Globus willfully infringes one or more claims of six patents by making, using, offering for sale or selling the CALIBER ® , CALIBER ® -L, COALITION ® , CONTINENTAL ® , FORGE ® , FORTIFY ® , INDEPENDENCE ® , INTERCONTINENTAL ® , MONUMENT ® , NIKO ® , RISE ® , SIGNATURE ® , SUSTAIN ® , and TRANSCONTINENTAL ® products. Bonutti Skeletal seeks an unspecified amount in damages and injunctive relief. This matter was stayed on June 26, 2015 pending the resolution of inter partes reviews on the asserted patents by the USPTO. 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. Flexuspine, Inc. Litigation On March 11, 2015, Flexuspine, Inc. filed suit against us in the U.S. District Court for the Eastern District of Texas for patent infringement. Flexuspine, Inc. alleges that Globus willfully infringes one or more claims of five patents by making, using, offering for sale or selling the CALIBER ® , CALIBER ® -L, RISE ® , RISE ® -L, RISE ® INTRALIF ® , and ALTERA ® products. Flexuspine 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. Silverstein Litigation On September 28, 2015, a putative securities class action lawsuit was filed against us and certain of our officers in the U.S. District Court for the Eastern District of Pennsylvania. Plaintiff in the lawsuit purports to represent a class of our stockholders who purchased shares between February 26, 2014 and August 5, 2014. The complaint purports to assert claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and seeks damages in an unspecified amount, attorney’s fees and other relief. We believe the allegations to be unfounded, and intend to defend our rights vigorously. 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.

RETIREMENT BENEFIT PLANS

RETIREMENT BENEFIT PLANS	12 Months Ended
	Dec. 31, 2015
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Retirement Benefit Plans	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 (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 401(k) and other retirement plan contributions $ 2,303 $ 2,185 $ 2,106

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related-Party Transactions	RELATED-PARTY TRANSACTIONS Prior to March 11, 2015, we had contracted with BMG, which at the time was a third-party manufacturer in which certain of our senior management and significant stockholders had ownership interests and leadership positions. We have purchased the following amounts of products and services from BMG: Period Ended Year Ended (In thousands) March 11, December 31, December 31, Purchases from related-party supplier $ 5,304 $ 21,948 $ 20,039 On March 11, 2015, BMG was acquired by Globus, and therefore, as of the acquisition date, there were no further purchases from nor amounts due to BMG. The amount payable to BMG on the date of acquisition of $5.2 million was settled in connection with the acquisition. As of December 31, 2014 , we had $5.4 million of accounts payable due to the BMG.

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment And Geographic Information	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 reportable segment. Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. Products are sold principally in the United States. The following table represents total sales by geographic area, based on the location of the customer: Year Ended (In thousands) December 31, December 31, December 31, United States $ 498,191 $ 427,091 $ 396,615 International 46,562 47,280 37,844 Total sales $ 544,753 $ 474,371 $ 434,459 We classify our products into two categories: Innovative Fusion products and Disruptive Technology products. The following table represents total sales by product category: Year Ended (In thousands) December 31, December 31, December 31, Innovative Fusion $ 288,062 $ 270,852 $ 254,033 Disruptive Technology 256,691 203,519 180,426 Total sales $ 544,753 $ 474,371 $ 434,459

QUARTERLY FINANCIAL DATA (unaud

QUARTERLY FINANCIAL DATA (unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (unaudited)	QUARTERLY FINANCIAL DATA (unaudited) (unaudited) (In thousands, except per share amounts) March 31, June 30, September 30, December 31, Sales $ 131,604 $ 133,570 $ 136,992 $ 142,587 Gross profit 99,497 100,991 103,940 107,522 Net income 24,648 24,054 26,481 37,601 Net earnings per common share - basic 0.26 0.25 0.28 0.39 Net earnings per common share - diluted 0.26 0.25 0.28 0.39 (unaudited) (In thousands, except per share amounts) March 31, June 30, September 30, December 31, Sales $ 114,210 $ 113,573 $ 117,787 $ 128,801 Gross profit 88,898 86,990 90,101 97,525 Net income 21,139 20,647 23,061 27,638 Net earnings per common share - basic 0.23 0.22 0.24 0.29 Net earnings per common share - diluted 0.22 0.22 0.24 0.29

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Dec. 31, 2015
Subsequent Event
Subsequent Event	SUBSEQUENT EVENT On January 13, 2016, we entered into an agreement providing for the settlement of four patent infringement lawsuits concerning spinal implant technologies (the “Settlement Agreement”) between Globus Medical, Inc., DePuy Synthes Products, Inc. and DePuy Synthes Sales, Inc. (together with DePuy Synthes Products, Inc., “Depuy Synthes”). Pursuant to the terms of the Settlement Agreement, we are required to make a $7.9 million payment to Depuy Synthes. The Settlement Agreement also contains covenants not to sue relating to certain of the products sold by each of the parties and cross-licenses of all of the patents asserted in each of the Settled Lawsuits and each of the patents in those respective patent families. The Company does not expect the Settlement Agreement to impact its ability to conduct its business or have any impact on its future revenues. The settlement resulted in one-time financial benefits reflecting the difference from previously established provisions and the final settlement amount through a one-time net income benefit of approximately $7.6 million , recognized during the fourth quarter of 2015, and a one-time transfer of approximately $8.4 million from restricted cash account into the cash account, which will be recognized during the first quarter of 2016.

VALUATION ACCOUNTS AND QUALIFYI

VALUATION ACCOUNTS AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
Valuation Accounts and Qualifying Accounts	VALUATION ACCOUNTS AND QUALIFYING ACCOUNTS Allowance for doubtful accounts: (In thousands) Beginning of period Additions Write-offs End of period Year ended December 31, 2013 $ 961 $ 693 $ (73 ) $ 1,581 Year ended December 31, 2014 1,581 318 (252 ) 1,647 Year ended December 31, 2015 $ 1,647 $ 1,455 $ (589 ) $ 2,513 Deferred tax valuation allowance: (In thousands) Beginning of period Additions Write-offs End of period Year ended December 31, 2013 $ 533 $ — $ (206 ) $ 327 Year ended December 31, 2014 327 — (282 ) 45 Year ended December 31, 2015 $ 45 $ — $ (2 ) $ 43

BACKGROUND AND SUMMARY OF SIG28

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Principles of Consolidation	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	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, 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.
Foreign Currency Translation	Foreign Currency Translation The functional currency of our foreign subsidiaries is 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 operations.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and all highly liquid investments with a maturity of three months or less when purchased.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts The majority of our accounts receivable is composed of amounts due from hospitals. We carry our accounts receivable at cost less an allowance for doubtful accounts. On a regular basis, we evaluate our accounts receivable and estimate an allowance for doubtful accounts, as needed, based on various factors such as our customers’ current credit conditions, length of time past due, and the general economy as a whole. Receivables are written off against the allowance when they are deemed uncollectible.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments, which potentially subject us to concentrations of credit risk, are primarily cash and cash equivalents 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, 2015 , 2014 , and 2013 , respectively.
Marketable Securities	Marketable Securities Our marketable securities include municipal bonds, corporate debt securities, commercial paper, securities of U.S. government-sponsored agencies and asset-backed securities, and are classified as available-for-sale as of December 31, 2015 . 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 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.
Inventories	Inventories I nventories are stated at the lower of cost or market. Cost is determined on a first-in, first-out basis. The majority of our inventories are finished goods as we mainly utilize 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.
Property and Equipment	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 operations.
Goodwill and Intangible Assets	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. For the year ended December 31, 2015 , we performed a qualitative test for impairment as permitted under Financial Accounting Standards Board (“FASB”) authoritative guidance. During the years ended December 31, 2015 , 2014 and 2013 , we did not record any impairment charges related to goodwill. Intangible assets consist of purchased in-process research and development (“IPR&D”), 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. 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.
Impairment of Long-Lived Assets	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.
Revenue Recognition	Revenue Recognition Revenue is recognized when persuasive evidence of an arrangement exists, product delivery has occurred, pricing is fixed or determinable, and collection is reasonably assured. A significant portion of our revenue is generated from consigned inventory maintained at hospitals or with sales representatives. For these products, revenue is recognized at the time the product is used or implanted. For all other transactions, we recognize revenue when title to the goods and risk of loss transfer to customers, provided there are no remaining performance obligations that will affect the customer’s final acceptance of the sale. Our policy is to classify shipping and handling costs billed to customers as sales and the related expenses as cost of goods sold.
Research and Development	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.
Stock-Based Compensation	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. As we became a publicly traded entity in 2012, historic volatility for our common stock is insufficient to estimate expected volatility. As a result, we estimate volatility based on a consistently defined peer group of public companies that we believe collectively provides a reasonable basis for estimating volatility. We intend to continue to use the consistently defined group of publicly traded peer companies to determine volatility in the future until sufficient information regarding volatility of the price of our shares of Class A common stock becomes available or the selected companies are no longer suitable for this purpose. The expected term of the stock options is determined utilizing the simplified method given the limited extent of our historical data. 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.
Income Taxes	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.
Fair Value of Financial Instruments	Fair Value of Financial Instruments As of December 31, 2015 , the carrying values of cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued expenses approximate their respective fair values based on their short-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.
Advertising Expense	Advertising Expense We expense advertising costs as they are incurred.
Legal costs	Legal Costs We expense legal costs related to loss contingencies as incurred.
Medical Device Excise Tax	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 (collectively “PPACA”) 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 account for the MDET as a component of our cost of goods sold.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the FASB and the International Accounting Standards Board released Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”) . ASU 2014-09 is designed to create greater comparability for financial statement users across industries and jurisdictions. 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. The standard also will require enhanced disclosures and provide more comprehensive guidance for transactions such as service revenue and contract modifications. The standard was to take effect for public companies for annual reporting periods beginning after December 15, 2016, and early adoption was prohibited. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. In August 2015, the FASB released ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU 2015-14”), which defers the effective date of ASU 2014-09 by one year while providing the option to early adopt the standard on the original effective date. We are currently evaluating the timing and impact of the new standard on our financial position, results of operations, and disclosures. In July 2015, the FASB released ASU 2015-11, Simplifying the Measurement of Inventory (Topic 330) (“ASU 2015-11”) as part of the FASB’s Simplification Initiative. This update is intended to more closely align the measurement of inventory under GAAP with the measurement of inventory under International Financial Reporting Standards. Within the scope of the update, an entity is required to measure inventory at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonable and predictable costs of completion, disposal and transportation. ASU 2015-11 is effective for all public entities for fiscal years beginning after December 31, 2016, including interim reporting periods within that period, and is required to be applied prospectively, with early adoption permitted. We are currently evaluating the impact of the new standard on our financial position, results of operations, and disclosures. In September 2015, the FASB released ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”). ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Prior to the issuance of the standard, entities were required to retrospectively apply adjustments made to provisional amounts recognized in a business combination. The amendments in ASU 2015-16 require an entity to present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted. The update is not expected to have a material impact on our financial position, results of operations, and disclosures. In November 2015, the FASB released ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes (“ASU 2015-17”). ASU 2015-17 simplifies the presentation of deferred income taxes by requiring that all deferred income taxes are classified as noncurrent in a classified statement of financial position. The amendments in ASU 2015-17 also aligns the presentation of deferred taxes with that of International Financial Reporting Standards. This update is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, with earlier application permitted for all entities as of the beginning of an interim or annual reporting period. The amendments in ASU 2015-17 may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. If an entity applies the guidance prospectively, the entity should disclose in the first interim and first annual period of change, the nature of and reason for the change in accounting principle and a statement that prior periods were not retrospectively adjusted. If an entity applies the guidance retrospectively, the entity should disclose in the first interim and first annual period of change the nature of and reason for the change in accounting principle and quantitative information about the effects of the accounting change on prior periods. We are currently evaluating the impact of the new standard on our financial position, results of operations, and disclosures.

ACQUISTIONS (Tables)

ACQUISTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Business Acquisition
Contingent Consideration Rollforward Activity	The following table provides a reconciliation of the beginning and ending balances of contingent payments associated with acquisitions during the years ended December 31, 2015 and December 31, 2014 : (In thousands) Balance at December 31, 2013 $ 14,177 Purchase price contingent consideration 11,300 Contingent payments (11 ) Changes in fair value of contingent consideration classified in operating expenses (1) (1,131 ) Balance at December 31, 2014 24,335 Purchase price contingent consideration — Contingent payments (836 ) Changes in fair value of contingent consideration classified in operating expenses (2) 3,118 Balance at December 31, 2015 $ 26,617 (1) Reduction in fair value during 2014 due primarily to reductions to a contingent royalty accrual, offset partially by increases in other royalty and milestone accruals. (2) Increase in fair value during 2015 due primarily to the achievement of a portion of the TTOT contingent consideration and the increase in the probability of achievement of the Excelsius milestone contingent consideration.
Acquisition 2,015
Business Acquisition
Schedule of Assets Acquired and Liabilities Assumed	The table below represents the final purchase price allocation for the identifiable tangible and intangible assets and liabilities of BMG: (In thousands) Consideration: Cash paid at closing $ 57,042 Deferred consideration 5,290 Closing adjustments payable 944 Fair value of consideration $ 63,276 Identifiable assets acquired and liabilities assumed: Cash acquired $ 9,026 Accounts receivable 88 Inventory 4,753 Other assets 444 Property and equipment 14,862 Accounts payable and accrued expenses (1,585 ) Deferred tax liability, net (3,280 ) Total identifiable net assets 24,308 Goodwill 38,968 Total allocated purchase price $ 63,276
Business Acquisition, Pro Forma Information	These results have been prepared using assumptions our management believes are reasonable, but not necessarily indicative of the actual results that would have occurred if the acquisition had occurred on January 1, 2014, and are not necessarily indicative of the results that may be achieved in the future, including but not limited to operating synergies that we may realize as a result of the acquisition. Year Ended (pro forma, unaudited, in thousands, except per share amounts) December 31, December 31, Net sales $ 544,578 $ 474,544 Net income 115,915 92,945 Earnings per share: Basic $ 1.22 $ 0.99 Diluted $ 1.21 $ 0.97
Acquisition 2,014
Business Acquisition
Schedule of Assets Acquired and Liabilities Assumed	The table below represents the final purchase price allocation for the identifiable tangible and intangible assets of TTOT: (In thousands) Consideration: Cash paid at closing $ 36,128 Contingent consideration 11,300 (1) Fair value of consideration $ 47,428 Identifiable assets acquired and liabilities assumed: Inventory $ 9,599 Supplier network 4,000 Customer relationships 1,600 Accounts receivable 1,529 Equipment 518 Trade names 300 Other assets 292 Accounts payable and accrued expenses (5,034 ) Total identifiable net assets 12,804 Goodwill 34,624 Total allocated purchase price $ 47,428 (1) The contingent consideration relates to the achievement of certain sales milestones. As of December 31, 2014, the aggregate, undiscounted amount of contingent consideration that we could pay related to the acquisitions ranges from zero to $15.0 million (see “Note 5. Fair Value Measurements” below).
Acquisition 2,013
Business Acquisition
Schedule of Assets Acquired and Liabilities Assumed	The table below represents the valuation of the assets acquired and liabilities assumed as part of this 2013 purchase: (In thousands) Identifiable intangible assets: In-process research & development $ 20,460 Non-compete agreements 20 Contingent consideration (6,704 ) (2) Total identifiable net assets 13,776 Goodwill 2,999 Net assets acquired $ 16,775 (2) The contingent consideration relates to the achievement of certain regulatory milestones and royalties. As of December 31, 2013, the aggregate, undiscounted amount of contingent consideration that we could pay related to the acquisitions ranged from zero to $14.3 million (see “Note 5. Fair Value Measurements” below).

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
Intangible Assets Disclosure [Abstract]
Intangible Assets Acquired as Part of Business Combination	A summary of intangible assets is presented below: December 31, 2015 (In thousands) Weighted- Gross Accumulated Amortization Intangible In-process research & development — $ 24,560 $ — $ 24,560 Supplier network 10.0 4,000 (467 ) 3,533 Customer relationships & other intangibles 7.3 5,525 (2,384 ) 3,141 Patents 17.0 2,495 (487 ) 2,008 Total intangible assets $ 36,580 $ (3,338 ) $ 33,242 December 31, 2014 (In thousands) Weighted- Gross Accumulated Amortization Intangible In-process research & development — $ 24,560 $ — $ 24,560 Supplier network 10.0 3,800 (88 ) 3,712 Customer relationships & other intangibles 7.3 5,525 (1,344 ) 4,181 Patents 17.0 2,420 (344 ) 2,076 Total intangible assets $ 36,305 $ (1,776 ) $ 34,529
Schedule of intangible asset amortization expense	Amortization expense was as follows: Year Ended (in thousands) December 31, 2015 December 31, 2014 December 31, 2013 Intangible asset amortization expense $ 1,562 $ 710 $ 528
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	For intangible assets subject to amortization as of December 31, 2015 , the following is the expected future amortization: (In thousands) Annual Amortization Year ending December 31: 2016 $ 1,566 2017 1,432 2018 880 2019 876 2020 876 Thereafter 3,052 Total $ 8,682

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Marketable Securities [Abstract]
Marketable Securities	The composition of our short-term and long-term marketable securities is as follows: December 31, 2015 (In thousands) Contractual Maturity (in years) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term: Municipal bonds Less than 1 $ 108,402 $ 15 $ (81 ) $ 108,336 Corporate debt securities Less than 1 53,759 2 (57 ) 53,704 Commercial paper Less than 1 42,149 3 (1 ) 42,151 Securities of U.S. government-sponsored agencies Less than 1 14,511 4 (4 ) 14,511 Asset backed securities Less than 1 2,175 — — 2,175 Total short-term marketable securities $ 220,996 $ 24 $ (143 ) $ 220,877 Long-term: Municipal bonds 1-2 $ 18,508 $ — $ (25 ) $ 18,483 Corporate debt securities 1-2 12,033 — (25 ) 12,008 Asset backed securities 1-2 18,294 — (23 ) 18,271 Total long-term marketable securities $ 48,835 $ — $ (73 ) $ 48,762 December 31, 2014 (In thousands) Contractual Maturity (in years) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term: Municipal bonds Less than 1 $ 28,684 $ 2 $ (3 ) $ 28,683 Corporate debt securities Less than 1 73,066 7 (42 ) 73,031 Commercial paper Less than 1 44,663 8 — 44,671 Asset backed securities Less than 1 54 — — 54 Total short-term marketable securities $ 146,467 $ 17 $ (45 ) $ 146,439 Long-term: Municipal bonds 1-2 $ 26,005 $ 3 $ (36 ) $ 25,972 Corporate debt securities 1-2 19,617 3 (22 ) 19,598 Asset backed securities 1-2 21,236 1 (8 ) 21,229 Securities of U.S. government-sponsored agencies 1-2 8,564 — (16 ) 8,548 Total long-term marketable securities $ 75,422 $ 7 $ (82 ) $ 75,347

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The fair value of our assets and liabilities measured at fair value on a recurring basis was as follows: Balance at (In thousands) December 31, Level 1 Level 2 Level 3 Assets Cash equivalents $ 12,700 $ 1,701 $ 10,999 $ — Municipal bonds 126,819 — 126,819 — Corporate debt securities 65,712 — 65,712 — Commercial paper 42,151 — 42,151 — Asset-backed securities 20,446 — 20,446 — Securities of U.S. government-sponsored agencies 14,511 — 14,511 — Liabilities Contingent consideration 26,617 — — 26,617 Balance at (In thousands) December 31, Level 1 Level 2 Level 3 Assets Cash equivalents $ 9,802 $ 1,302 $ 8,500 $ — Municipal bonds 54,655 — 54,655 — Corporate debt securities 92,629 — 92,629 — Commercial paper 44,671 — 44,671 — Asset-backed securities 21,283 — 21,283 — Securities of U.S. government-sponsored agencies 8,548 — 8,548 — Liabilities Contingent consideration 24,335 — — 24,335

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory	(In thousands) December 31, 2015 December 31, 2014 Raw materials $ 12,308 $ 8,847 Work in process 7,091 2,490 Finished goods 85,861 79,608 Total $ 105,260 $ 90,945

PROPERTY & EQUIPMENT (Tables)

PROPERTY & EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property And Equipment	(In thousands) Useful Life December 31, 2015 December 31, 2014 Land — $ 8,254 $ 4,116 Buildings and improvements 30 19,809 10,369 Equipment 5-7 40,998 17,783 Instruments 3 147,961 123,864 Modules and cases 3 28,519 25,155 Other property and equipment 3-5 8,316 6,732 253,857 188,019 Less: accumulated depreciation (139,114 ) (118,544 ) Total $ 114,743 $ 69,475
Schedule Of Depreciation Of Property And Equipment	Depreciation expense related to property and equipment was as follows: Year Ended (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Depreciation $ 22,522 $ 21,044 $ 18,869

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued Expenses	(In thousands) December 31, December 31, Compensation and other employee-related costs $ 21,125 $ 19,933 Legal and other settlements and expenses 13,617 27,686 Accrued non-income taxes 6,808 4,720 Royalties 6,787 3,872 Other 5,432 5,288 Total accrued expenses $ 53,769 $ 61,499

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2015
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 Total December 31, 2015 71,442,166 23,877,556 95,319,722 December 31, 2014 70,828,187 23,877,556 94,705,743

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Grants in Period, Weighted Average Grant Date Fair Value	The weighted average grant date per share fair values of the options awarded to employees were as follows: Year Ended December 31, December 31, December 31, Weighted average grant date per share fair value $ 8.63 $ 9.63 $ 6.34
Fair Value of Options, Assumptions Schedule	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, December 31, December 31, Risk-free interest rate 1.39 % - 2.11 % 1.51 % - 1.95 % 0.98 % - 1.74 % Expected term (years) 5.1 - 9.9 5.3 - 6.4 6.1 - 6.4 Expected volatility 29.0 % - 38.0 % 35.0 % - 41.0 % 41.0 % - 44.0 % Expected dividend yield —% —% —%
Summary of Stock Option Activity	Stock option activity during the years ended December 31, 2015 , 2014 and 2013 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, 2012 6,253 $ 6.99 Granted 1,222 14.78 Exercised (2,173 ) 3.48 Forfeited (416 ) 12.23 Outstanding at December 31, 2013 4,886 10.04 Granted 1,495 23.45 Exercised (1,263 ) 7.71 Forfeited (264 ) 15.33 Outstanding at December 31, 2014 4,854 14.50 Granted 2,828 24.69 Exercised (614 ) 8.92 Forfeited (391 ) 17.84 Outstanding at December 31, 2015 6,677 19.14 7.6 $ 57,987 Exercisable at December 31, 2015 2,759 12.96 5.7 40,995 Expected to vest at December 31, 2015 3,918 $ 23.48 9.0 $ 16,992
Stock Option Compensation Expense and Intrinsic Value 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 (In thousands) December 31, December 31, December 31, Intrinsic value of stock options exercised $ 9,984 $ 20,216 $ 25,034 Stock-based compensation expense $ 9,639 $ 7,111 $ 5,177 Net stock-based compensation capitalized into inventory 221 — — Total stock-based compensation cost $ 9,860 $ 7,111 $ 5,177

INCOME TAXES Income Taxes (Tabl

INCOME TAXES Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Income (loss) before Income Tax, Domestic and Foreign	The components of income before income taxes are as follows: Year ended (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Domestic $ 171,278 $ 137,643 $ 101,424 Foreign 1,527 999 577 Total $ 172,805 $ 138,642 $ 102,001
Schedule of Components Provision for Income Taxes	The components of the provision/(benefit) for income taxes are as follows: Year ended (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Current: Federal $ 45,813 $ 43,561 $ 41,741 State 7,193 6,097 6,118 Foreign 673 519 912 53,679 50,177 48,771 Deferred: Federal 5,926 (3,630 ) (14,088 ) State 480 (357 ) (1,210 ) Foreign (64 ) (33 ) (84 ) 6,342 (4,020 ) (15,382 ) Total $ 60,021 $ 46,157 $ 33,389
U.S. Federal Tax Rate To Effective Rate Reconciliation	A reconciliation of the statutory U.S. federal tax rate to our effective rate is as follows: Year ended December 31, 2015 December 31, 2014 December 31, 2013 Statutory U.S. federal tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 3.0 2.6 2.8 Domestic production activities deduction (2.6 ) (2.7 ) (3.5 ) Tax credits (0.9 ) (1.2 ) (1.7 ) Nondeductible expenses 0.3 0.7 1.7 Other (0.1 ) (1.1 ) (1.6 ) Effective tax rate 34.7 % 33.3 % 32.7 %
Schedule of Components of Deferred Income Taxes	Significant components of our deferred income taxes are as follows: (In thousands) December 31, 2015 December 31, 2014 Deferred tax assets: Inventory reserve $ 26,741 $ 22,808 Accruals, reserves, and other currently not deductible 13,091 19,043 Stock-based compensation 8,014 5,548 Foreign net operating loss carryforwards 329 418 Total deferred tax assets 48,175 47,817 Valuation allowance (43 ) (45 ) Total deferred tax assets, net of valuation allowance 48,132 47,772 Deferred tax liabilities: Depreciation and amortization (20,070 ) (9,865 ) Other (2,354 ) (2,643 ) Total deferred tax liabilities (22,424 ) (12,508 ) Net deferred tax assets $ 25,708 $ 35,264
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Year ended (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Unrecognized tax benefits at the beginning of the year $ 3,228 $ 3,978 $ 3,500 Additions related to current year tax positions 316 — 661 Additions related to prior year tax positions 261 614 64 Reductions related to prior year tax positions (2,230 ) (209 ) (109 ) Lapse of statute of limitations — (202 ) (138 ) Settlements — (953 ) — Unrecognized tax benefits at the end of the year $ 1,575 $ 3,228 $ 3,978
Impact of Unrecognized Tax Benefits to Effective Income Tax Rate	The impact of our unrecognized tax benefits to the effective income tax rate is as follows: (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Portion of total unrecognized tax benefits that, if recognized, would affect the effective income tax rate $ 1,335 $ 838 $ 1,184

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2015
Leases, Operating [Abstract]
Schedule of Minimum Future Rental Payments Under Operating Leases	As of December 31, 2015 , minimum future rental payments under operating leases for each of the next five years are as follows: (In thousands) Year ending December 31: 2016 $ 888 2017 625 2018 294 2019 84 2020 39 Thereafter — Total $ 1,930
Schedule of Rent Expense for Operating Leases	Rent expense related to all operating leases recognized as a component of selling, general and administrative expenses was as follows: Year ended (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Rent expense $ 1,113 $ 676 $ 424

RETIREMENT BENEFIT PLANS (Table

RETIREMENT BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2015
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Company Contributions To Retirement Benefit Plans	Company contributions to these retirement plans were as follows: Year ended (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 401(k) and other retirement plan contributions $ 2,303 $ 2,185 $ 2,106

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	We have purchased the following amounts of products and services from BMG: Period Ended Year Ended (In thousands) March 11, December 31, December 31, Purchases from related-party supplier $ 5,304 $ 21,948 $ 20,039

SEGMENT AND GEOGRAPHIC INFORM42

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of Revenue from External Customers By Geographical Area International and Domestic	The following table represents total sales by geographic area, based on the location of the customer: Year Ended (In thousands) December 31, December 31, December 31, United States $ 498,191 $ 427,091 $ 396,615 International 46,562 47,280 37,844 Total sales $ 544,753 $ 474,371 $ 434,459
Revenue from External Customers by Products and Services	The following table represents total sales by product category: Year Ended (In thousands) December 31, December 31, December 31, Innovative Fusion $ 288,062 $ 270,852 $ 254,033 Disruptive Technology 256,691 203,519 180,426 Total sales $ 544,753 $ 474,371 $ 434,459

QUARTERLY FINANCIAL DATA (una43

QUARTERLY FINANCIAL DATA (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	(unaudited) (In thousands, except per share amounts) March 31, June 30, September 30, December 31, Sales $ 131,604 $ 133,570 $ 136,992 $ 142,587 Gross profit 99,497 100,991 103,940 107,522 Net income 24,648 24,054 26,481 37,601 Net earnings per common share - basic 0.26 0.25 0.28 0.39 Net earnings per common share - diluted 0.26 0.25 0.28 0.39 (unaudited) (In thousands, except per share amounts) March 31, June 30, September 30, December 31, Sales $ 114,210 $ 113,573 $ 117,787 $ 128,801 Gross profit 88,898 86,990 90,101 97,525 Net income 21,139 20,647 23,061 27,638 Net earnings per common share - basic 0.23 0.22 0.24 0.29 Net earnings per common share - diluted 0.22 0.22 0.24 0.29

VALUATION ACCOUNTS AND QUALIF44

VALUATION ACCOUNTS AND QUALIFYING ACCOUNTS (Tables)	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts Disclosure
Summary of Valuation Allowances	Allowance for doubtful accounts: (In thousands) Beginning of period Additions Write-offs End of period Year ended December 31, 2013 $ 961 $ 693 $ (73 ) $ 1,581 Year ended December 31, 2014 1,581 318 (252 ) 1,647 Year ended December 31, 2015 $ 1,647 $ 1,455 $ (589 ) $ 2,513 Deferred tax valuation allowance: (In thousands) Beginning of period Additions Write-offs End of period Year ended December 31, 2013 $ 533 $ — $ (206 ) $ 327 Year ended December 31, 2014 327 — (282 ) 45 Year ended December 31, 2015 $ 45 $ — $ (2 ) $ 43

BACKGROUND AND SUMMARY OF SIG45

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Summary of Significant Accounting Policies
Advertising expense	$ 400	$ 500	$ 500
Restricted cash	$ 26,119	23,370
Medical Device Excise Tax Percentage	2.30%
Minimum
Summary of Significant Accounting Policies
Number of Products Launched Since Inception	150
Estimated useful life of finite-lived intangible assets	1 year
Maximum
Summary of Significant Accounting Policies
Estimated useful life of finite-lived intangible assets	17 years
Cost of Goods, Total
Summary of Significant Accounting Policies
Medical Device Excise Tax	$ 8,100	$ 7,100	$ 7,200

ACQUISTIONS (Textuals) (Details

ACQUISTIONS (Textuals) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Mar. 11, 2015	Oct. 23, 2014	Dec. 23, 2013
Business Acquisition
Payments to Acquire Businesses, Gross			$ 16,800
Goodwill	$ 91,964	$ 53,196
Accounts payable to related-party	0	5,359
Acquisition 2,015
Business Acquisition
Payments to Acquire Businesses, Gross	57,042
Deferred consideration	5,290
Closing adjustment payable	$ 944
Net assets acquired				$ 63,276
Goodwill				38,968
Accounts payable to related-party				$ 5,200
Related party ownership percentage				49.00%
Acquisition 2,014
Business Acquisition
Payments to Acquire Businesses, Gross		36,128
Range of aggregate undiscounted contingent consideration from acquisitions, maximum		$ 15,000			$ 15,000
Net assets acquired					47,428
Goodwill					$ 34,624
Acquisition 2,013
Business Acquisition
Range of aggregate undiscounted contingent consideration from acquisitions, maximum						$ 14,300
Net assets acquired						16,775
Goodwill						$ 2,999

ACQUISTIONS (Assets Acquired an

ACQUISTIONS (Assets Acquired and Liabilities) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Mar. 11, 2015	Oct. 23, 2014	Dec. 23, 2013
Business Acquisition
Payments to Acquire Businesses, Gross				$ 16,800
Goodwill		$ 91,964	$ 53,196
Acquisition 2,015
Business Acquisition
Payments to Acquire Businesses, Gross		57,042
Inventory					$ 4,753
Other assets					444
Property and equipment					14,862
Accounts receivable					88
Accounts payable and accrued expenses					(1,585)
Deferred tax liability, net					(3,280)
Business Combination, Consideration Transferred		63,276
Cash acquired					9,026
Total identifiable net assets					24,308
Goodwill					38,968
Total allocated purchase price					$ 63,276
Deferred consideration		5,290
Closing adjustment payable		$ 944
Acquisition 2,014
Business Acquisition
Payments to Acquire Businesses, Gross			36,128
Inventory						$ 9,599
Accounts receivable						1,529
Equipment						518
Trade Names						300
Other assets						292
Accounts payable and accrued expenses						(5,034)
Contingent consideration	[1]					11,300
Business Combination, Consideration Transferred			$ 47,428
Total identifiable net assets						12,804
Goodwill						34,624
Total allocated purchase price						47,428
Acquisition 2,013
Business Acquisition
Contingent consideration	[2]						$ 6,704
Total identifiable net assets							13,776
Goodwill							2,999
Total allocated purchase price							16,775
In-process Research and Development | Acquisition 2013
Business Acquisition
Identifiable intangible assets:							20,460
Customer Relationships | Acquisition 2014
Business Acquisition
Identifiable intangible assets:						1,600
Non-compete Agreements | Acquisition 2013
Business Acquisition
Identifiable intangible assets:							$ 20
Supplier Network | Acquisition 2014
Business Acquisition
Identifiable intangible assets:						$ 4,000
[1]	The contingent consideration relates to the achievement of certain sales milestones. As of December 31, 2014, the aggregate, undiscounted amount of contingent consideration that we could pay related to the acquisitions ranges from zero to $15.0 million (see “Note 5. Fair Value Measurements” below).
[2]	The contingent consideration relates to the achievement of certain regulatory milestones and royalties. As of December 31, 2013, the aggregate, undiscounted amount of contingent consideration that we could pay related to the acquisitions ranged from zero to $14.3 million (see “Note 5. Fair Value Measurements” below).

ACQUISTIONS (Contingent Conside

ACQUISTIONS (Contingent Consideration Payment Rollforward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Contingent Consideration Payment [Roll Forward]
Business Combination, Contingent Consideration, Liability	$ 24,335	$ 14,177
Purchase price contingent consideration	0	11,300
Contingent payments	(836)	(11)
Changes in fair value of contingent consideration classified in operating expenses	3,118	(1,131)
Business Combination, Contingent Consideration, Liability	$ 26,617	$ 24,335

ACQUISTIONS Proforma (Details)

ACQUISTIONS Proforma (Details) - Acquisition 2015 - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Net sales	$ 544,578	$ 474,544
Net income	$ 115,915	$ 92,945
Basic	$ 1.22	$ 0.99
Diluted	$ 1.21	$ 0.97

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Acquired Intangible Assets
Intangible Assets, Gross Carrying Amount	$ 36,580	$ 36,305
Accumulated Amortization	(3,338)	(1,776)
Intangible asset amortization expense	1,562	710	$ 528
Intangible assets, net	33,242	$ 34,529
Finite-lived intangible assets, net	$ 8,682
Supplier Network
Acquired Intangible Assets
Weighted average amortization period	10 years	10 years
Gross carrying amount	$ 4,000	$ 3,800
Accumulated Amortization	(467)	(88)
Finite-lived intangible assets, net	$ 3,533	$ 3,712
Customer relationships & other intangibles
Acquired Intangible Assets
Weighted average amortization period	7 years 3 months	7 years 3 months
Gross carrying amount	$ 5,525	$ 5,525
Accumulated Amortization	(2,384)	(1,344)
Finite-lived intangible assets, net	$ 3,141	$ 4,181
Patents
Acquired Intangible Assets
Weighted average amortization period	17 years	17 years
Gross carrying amount	$ 2,495	$ 2,420
Accumulated Amortization	(487)	(344)
Finite-lived intangible assets, net	2,008	2,076
In-process Research and Development
Acquired Intangible Assets
Indefinite-lived intangible assets	$ 24,560	$ 24,560

INTANGIBLE ASSETS Expected Futu

INTANGIBLE ASSETS Expected Future Amortization of Acquired Intangible Assets (Details) $ in Thousands	Dec. 31, 2015USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Year ending December 31, 2016	$ 1,566
Year ending December 31, 2017	1,432
Year ending December 31, 2018	880
Year ending December 30, 2019	876
Year ending December 31, 2020	876
Thereafter	3,052
Finite-lived intangible assets, net	$ 8,682

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Short-term Marketable Securities
Schedule of Marketable Securities
Amortized Cost	$ 220,996	$ 146,467
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	24	17
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(143)	(45)
Fair Value	220,877	146,439
Short-term Marketable Securities | Municipal Bonds
Schedule of Marketable Securities
Amortized Cost	108,402	28,684
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	15	2
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(81)	(3)
Fair Value	$ 108,336	$ 28,683
Short-term Marketable Securities | Municipal Bonds | Maximum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	1 year	1 year
Short-term Marketable Securities | Corporate Debt Securities
Schedule of Marketable Securities
Amortized Cost	$ 53,759	$ 73,066
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	2	7
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(57)	(42)
Fair Value	$ 53,704	$ 73,031
Short-term Marketable Securities | Corporate Debt Securities | Maximum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	1 year	1 year
Short-term Marketable Securities | Commercial Paper
Schedule of Marketable Securities
Amortized Cost	$ 42,149	$ 44,663
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	3	8
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(1)	0
Fair Value	$ 42,151	$ 44,671
Short-term Marketable Securities | Commercial Paper | Maximum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	1 year	1 year
Short-term Marketable Securities | Asset-backed Securities
Schedule of Marketable Securities
Amortized Cost	$ 2,175	$ 54
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	0	0
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	0	0
Fair Value	$ 2,175	$ 54
Short-term Marketable Securities | Asset-backed Securities | Maximum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	1 year	1 year
Short-term Marketable Securities | Securities of U.S. government-sponsored agencies
Schedule of Marketable Securities
Amortized Cost	$ 14,511
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	4
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(4)
Fair Value	$ 14,511
Short-term Marketable Securities | Securities of U.S. government-sponsored agencies | Maximum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	1 year
Long-term Marketable Securities
Schedule of Marketable Securities
Amortized Cost	$ 48,835	$ 75,422
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	0	7
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(73)	(82)
Fair Value	48,762	75,347
Long-term Marketable Securities | Municipal Bonds
Schedule of Marketable Securities
Amortized Cost	18,508	26,005
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	0	3
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(25)	(36)
Fair Value	$ 18,483	$ 25,972
Long-term Marketable Securities | Municipal Bonds | Minimum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	1 year	1 year
Long-term Marketable Securities | Municipal Bonds | Maximum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	2 years	2 years
Long-term Marketable Securities | Corporate Debt Securities
Schedule of Marketable Securities
Amortized Cost	$ 12,033	$ 19,617
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	0	3
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(25)	(22)
Fair Value	$ 12,008	$ 19,598
Long-term Marketable Securities | Corporate Debt Securities | Minimum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	1 year	1 year
Long-term Marketable Securities | Corporate Debt Securities | Maximum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	2 years	2 years
Long-term Marketable Securities | Asset-backed Securities
Schedule of Marketable Securities
Amortized Cost	$ 18,294	$ 21,236
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	0	1
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(23)	(8)
Fair Value	$ 18,271	$ 21,229
Long-term Marketable Securities | Asset-backed Securities | Minimum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	1 year	1 year
Long-term Marketable Securities | Asset-backed Securities | Maximum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity	2 years	2 years
Long-term Marketable Securities | Securities of U.S. government-sponsored agencies
Schedule of Marketable Securities
Amortized Cost		$ 8,564
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax		0
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax		(16)
Fair Value		$ 8,548
Long-term Marketable Securities | Securities of U.S. government-sponsored agencies | Minimum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity		1 year
Long-term Marketable Securities | Securities of U.S. government-sponsored agencies | Maximum
Schedule of Marketable Securities
Available For Sale Securities Contractual Maturity		2 years

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Minimum | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis
Discount rate	3.10%
Maximum | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis
Discount rate	13.50%
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis
Cash equivalents	$ 12,700	$ 9,802
Contingent consideration	26,617	24,335
Fair Value, Measurements, Recurring | Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	126,819	54,655
Fair Value, Measurements, Recurring | Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	65,712	92,629
Fair Value, Measurements, Recurring | Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	42,151	44,671
Fair Value, Measurements, Recurring | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	20,446	21,283
Fair Value, Measurements, Recurring | Securities of U.S. government-sponsored agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	14,511	8,548
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis
Cash equivalents	1,701	1,302
Contingent consideration	0	0
Fair Value, Measurements, Recurring | Level 1 | Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	0	0
Fair Value, Measurements, Recurring | Level 1 | Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	0	0
Fair Value, Measurements, Recurring | Level 1 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	0	0
Fair Value, Measurements, Recurring | Level 1 | Securities of U.S. government-sponsored agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	0	0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis
Cash equivalents	10,999	8,500
Contingent consideration	0	0
Fair Value, Measurements, Recurring | Level 2 | Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	126,819	54,655
Fair Value, Measurements, Recurring | Level 2 | Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	65,712	92,629
Fair Value, Measurements, Recurring | Level 2 | Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	42,151	44,671
Fair Value, Measurements, Recurring | Level 2 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	20,446	21,283
Fair Value, Measurements, Recurring | Level 2 | Securities of U.S. government-sponsored agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	14,511	8,548
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis
Cash equivalents	0	0
Contingent consideration	26,617	24,335
Fair Value, Measurements, Recurring | Level 3 | Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	0	0
Fair Value, Measurements, Recurring | Level 3 | Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	0	0
Fair Value, Measurements, Recurring | Level 3 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	0	0
Fair Value, Measurements, Recurring | Level 3 | Securities of U.S. government-sponsored agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis
Marketable Securities, Fair Value	$ 0	$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 12,308	$ 8,847
Work in process	7,091	2,490
Finished goods	85,861	79,608
Total	$ 105,260	$ 90,945

PROPERTY & EQUIPMENT (Details)

PROPERTY & EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property and Equipment
Depreciation	$ 22,522	$ 21,044	$ 18,869
Property and equipment, gross	253,857	188,019
Less: accumulated depreciation	(139,114)	(118,544)
Total	114,743	69,475
Land
Property and Equipment
Property and equipment, gross	$ 8,254	4,116
Building and improvements
Property and Equipment
Useful Life	30 years
Property and equipment, gross	$ 19,809	10,369
Equipment
Property and Equipment
Property and equipment, gross	$ 40,998	17,783
Equipment | Minimum
Property and Equipment
Useful Life	5 years
Equipment | Maximum
Property and Equipment
Useful Life	7 years
Instruments
Property and Equipment
Useful Life	3 years
Property and equipment, gross	$ 147,961	123,864
Modules and cases
Property and Equipment
Useful Life	3 years
Property and equipment, gross	$ 28,519	25,155
Other property and equipment
Property and Equipment
Property and equipment, gross	$ 8,316	$ 6,732
Other property and equipment | Minimum
Property and Equipment
Useful Life	3 years
Other property and equipment | Maximum
Property and Equipment
Useful Life	5 years

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Compensation and other employee-related costs	$ 21,125	$ 19,933
Legal and other settlements and expenses	13,617	27,686
Accrued non-income taxes	6,808	4,720
Royalties	6,787	3,872
Other	5,432	5,288
Total accrued expenses	$ 53,769	$ 61,499

DEBT (Details)

DEBT (Details) - Revolving Credit Facility $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Debt Instruments
Credit facility, current borrowing capacity	$ 50
Credit facility, maximum borrowing capacity	75
Line of Credit Facility, Fair Value of Amount Outstanding	$ 0
Revolving credit facility, minimum termination notice period	10 days
Fluctuating Rate Per Annum
Debt Instruments
Credit facility, basis spread on variable rate	0.75%
Credit facility, variable rate	LIBOR
Credit facility, period of variable rate	1 month
Fixed Rate
Debt Instruments
Credit facility, basis spread on variable rate	0.75%
Credit facility, variable rate	LIBOR
Fixed Rate | Minimum
Debt Instruments
Credit facility, period of variable rate	1 month
Fixed Rate | Maximum
Debt Instruments
Credit facility, period of variable rate	3 months
Letter of Credit
Debt Instruments
Credit facility, maximum borrowing capacity	$ 25

EQUITY (Textuals) (Details)

EQUITY (Textuals) (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Class of Stock
Common stock, shares outstanding	95,319,722	94,705,743
Common stock, shares authorized (in shares)	785,000,000
Class A Common
Class of Stock
Common stock, shares outstanding	71,442,166	70,828,187
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, votes per share	1
Class B Common
Class of Stock
Common stock, shares outstanding	23,877,556	23,877,556
Common stock, shares authorized (in shares)	275,000,000	275,000,000
Common stock, votes per share	10
Class C Common
Class of Stock
Common stock, shares authorized (in shares)	10,000,000

EQUITY (Schedule of Issued and

EQUITY (Schedule of Issued and Outstanding Shares) (Details) - shares	Dec. 31, 2015	Dec. 31, 2014
Class of Stock
Common stock, shares outstanding	95,319,722	94,705,743
Common stock, shares issued	95,319,722	94,705,743
Class A Common
Class of Stock
Common stock, shares outstanding	71,442,166	70,828,187
Common stock, shares issued	71,442,166	70,828,187
Class B Common
Class of Stock
Common stock, shares outstanding	23,877,556	23,877,556
Common stock, shares issued	23,877,556	23,877,556

STOCK-BASED COMPENSATION (Textu

STOCK-BASED COMPENSATION (Textuals) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation, Number of Stock Plans	3
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Maximum contractual term	10 years
Unrecognized compensation expense, unvested stock options | $	$ 27.9
Weighted average period of recognition, unvested stock options	3 years
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period (in years)	4 years
2012 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Base number of shares that may be issuable under stock plan	3,076,923
2012 Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares available for grant	10,769,230
Annual percentage limit for incremental shares that may be issued	3.00%
2012 Equity Incentive Plan | Class A Common
Share-based Compensation Arrangement by Share-based Payment Award
Shares reserved under the 2012 Equity Incentive Plan	9,137,673
Number of shares available for grant	3,548,783

STOCK-BASED COMPENSATION (Grant

STOCK-BASED COMPENSATION (Grant Date Fair Values of Options Awarded to Employees) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted average grant date per share fair value	$ 8.63	$ 9.63	$ 6.34

STOCK-BASED COMPENSATION (Fair

STOCK-BASED COMPENSATION (Fair Value of Options, Assumptions) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Risk-free interest rate, minimum	1.39%	1.51%	0.98%
Risk-free interest rate, maximum	2.11%	1.95%	1.74%
Expected volatility, minimum	29.00%	35.00%	41.00%
Expected volatility, maximum	38.00%	41.00%	44.00%
Expected dividend yield	0.00%	0.00%	0.00%
Minimum
Expected term	5 years 1 month 17 days	5 years 3 months 22 days	6 years 28 days
Maximum
Expected term	9 years 11 months	6 years 4 months 16 days	6 years 4 months 16 days

STOCK-BASED COMPENSATION (Stock

STOCK-BASED COMPENSATION (Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of shares outstanding beginning balance	4,854	4,886	6,253
Number of shares granted	2,828	1,495	1,222
Number of shares exercised	(614)	(1,263)	(2,173)
Number of shares forfeited	(391)	(264)	(416)
Number of shares outstanding ending balance	6,677	4,854	4,886
Number of shares exercisable	2,759
Number of shares expected to vest	3,918
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price per share outstanding beginning balance	$ 14.50	$ 10.04	$ 6.99
Weighted average exercise price per share granted	24.69	23.45	14.78
Weighted average exercise price per share exercised	8.92	7.71	3.48
Weighted average exercise price per share forfeited	17.84	15.33	12.23
Weighted average exercise price per share outstanding ending balance	19.14	$ 14.50	$ 10.04
Weighted average exercise price per share exercisable	12.96
Weighted average exercise price per share expected to vest	$ 23.48
Weighted average remaining contractual life outstanding	7 years 7 months 6 days
Weighted average remaining contractual life exercisable	5 years 8 months 12 days
Weighted average remaining contractual life expected to vest	9 years
Aggregate intrinsic value outstanding	$ 57,987
Aggregate intrinsic value exercisable	40,995
Aggregate intrinsic value expected to vest	$ 16,992

STOCK-BASED COMPENSATION (Compe

STOCK-BASED COMPENSATION (Compensation Expense Related to Stock Options and Their Intrinsic Values) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Intrinsic value of stock options exercised	$ 9,984	$ 20,216	$ 25,034
Stock-based compensation expense	9,639	7,111	5,177
Net stock-based compensation capitalized into inventory	221	0	0
Total stock-based compensation cost	$ 9,860	$ 7,111	$ 5,177

INCOME TAXES (Components of Inc

INCOME TAXES (Components of Income (Loss) Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Income before taxes, domestic	$ 171,278	$ 137,643	$ 101,424
Income before taxes, foreign	1,527	999	577
Income before income taxes	$ 172,805	$ 138,642	$ 102,001

INCOME TAXES (Components of Pro

INCOME TAXES (Components of Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current Income Tax Expense
Current income tax provision, federal	$ 45,813	$ 43,561	$ 41,741
Current income tax provision, state	7,193	6,097	6,118
Current income tax provision, foreign	673	519	912
Current income tax provision	53,679	50,177	48,771
Deferred Income Tax Expense/(Benefit)
Deferred income tax provision/(benefit), federal	5,926	(3,630)	(14,088)
Deferred income tax (benefit), state	480	(357)	(1,210)
Deferred income tax benefit, foreign	(64)	(33)	(84)
Deferred income tax provision/(benefit)	6,342	(4,020)	(15,382)
Income tax provision, total	$ 60,021	$ 46,157	$ 33,389

INCOME TAXES (Reconciliation of

INCOME TAXES (Reconciliation of Statutory U.S. Federal Tax Rate to Effective Rate) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Statutory U.S. federal tax rate	35.00%	35.00%	35.00%
State income taxes, net of federal benefit	3.00%	2.60%	2.80%
Domestic production activities deduction	(2.60%)	(2.70%)	(3.50%)
Tax credits	(0.90%)	(1.20%)	(1.70%)
Nondeductible expenses	0.30%	0.70%	1.70%
Other	(0.10%)	(1.10%)	(1.60%)
Effective tax rate	34.70%	33.30%	32.70%

INCOME TAXES (Components of Def

INCOME TAXES (Components of Deferred Income Taxes) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Components of Deferred Tax Assets [Abstract]
Inventory reserve	$ 26,741	$ 22,808
Accruals, reserves, and other currently not deductible	13,091	19,043
Stock-based compensation	8,014	5,548
Foreign net operating loss carryforwards	329	418
Total deferred tax assets	48,175	47,817
Valuation allowance	(43)	(45)
Total deferred tax assets, net of valuation allowance	48,132	47,772
Components of Deferred Tax Liabilities [Abstract]
Depreciation and amortization	(20,070)	(9,865)
Other	(2,354)	(2,643)
Total deferred tax liabilities	(22,424)	(12,508)
Net deferred tax assets	$ 25,708	$ 35,264

INCOME TAXES (Reconciliation 69

INCOME TAXES (Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at the beginning of the year	$ 3,228	$ 3,978	$ 3,500
Additions related to current year tax positions	316	0	661
Additions related to prior year tax positions	261	614	64
Reductions related to prior year tax positions	(2,230)	(209)	(109)
Lapse of statute of limitations	0	(202)	(138)
Settlements	0	953	0
Unrecognized tax benefit at the end of the year	1,575	3,228	3,978
Portion of total unrecognized tax benefits that, if recognized, that would affect the effective income tax rate	$ 1,335	$ 838	$ 1,184

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Examination
Benefit recorded in 2013 for reinstated 2012 tax credit			$ 0.9
Other Assets
Income Tax Examination
Long term deferred tax asset	$ 0.3	$ 0.4

LEASES (Minimum Future Rental P

LEASES (Minimum Future Rental Payments Under Operating Leases) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Leases, Operating [Abstract]
Year ending December 31, 2016	$ 888
Year ending December 31, 2017	625
Year ending December 31, 2018	294
Year ending December 31, 2019	84
Year ending December 31, 2020	39
Thereafter	0
Total	$ 1,930

LEASES (Rent Expense Related to

LEASES (Rent Expense Related to Operating Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Leases, Operating [Abstract]
Rent expense	$ 1,113	$ 676	$ 424

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Jan. 31, 2016USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015USD ($)claim	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Mar. 11, 2015claim	Nov. 19, 2014claim	Jul. 31, 2011claim
Loss Contingencies
Provision for litigation | $			$ (11,268)	$ 5,667	$ 23,055
Flexuspine Inc. Litigation
Loss Contingencies
Patent claims (number of claims)						5
Synthes USA, LLC, Synthes USA Products, LLC, and Synthes USA Sales, LLC Litigation
Loss Contingencies
Patent claims (number of claims)			3
Bianco
Loss Contingencies
Combined litigation loss | $		$ 4,300
Royalty Rate				5.00%
Bonutti Skeletal Innovations LLC Litigation
Loss Contingencies
Patent claims (number of claims)							6
Minimum | Flexuspine Inc. Litigation
Loss Contingencies
Patent claims (number of claims)						1
Minimum | Synthes USA, LLC, Synthes USA Products, LLC, and Synthes USA Sales, LLC Litigation
Loss Contingencies
Patent claims (number of claims)			1					1
Minimum | Bonutti Skeletal Innovations LLC Litigation
Loss Contingencies
Patent claims (number of claims)							1
Subsequent Event
Loss Contingencies
Payments for Legal Settlements | $	$ 7,900

RETIREMENT BENEFIT PLANS (Detai

RETIREMENT BENEFIT PLANS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Nondiscretionary employee contribution match rate	100.00%
Maximum annual contribution match, per employee	$ 6,000
Maximum annual contribution match, percent per employee	3.00%
401(k) and other retirement plan contributions	$ 2,303,000	$ 2,185,000	$ 2,106,000

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 11, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Related Party Transaction
Accounts payable to related-party		$ 5,359		$ 0
Purchases from related-party supplier	$ 5,304	$ 21,948	$ 20,039
Acquisition 2,015
Related Party Transaction
Accounts payable to related-party	$ 5,200

SEGMENT AND GEOGRAPHIC INFORM76

SEGMENT AND GEOGRAPHIC INFORMATION (Geographic Location) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)segments	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Revenues from External Customers
Number of reportable segments | segments									1
Total sales	$ 142,587	$ 136,992	$ 133,570	$ 131,604	$ 128,801	$ 117,787	$ 113,573	$ 114,210	$ 544,753	$ 474,371	$ 434,459
United States
Revenues from External Customers
Total sales									498,191	427,091	396,615
International
Revenues from External Customers
Total sales									$ 46,562	$ 47,280	$ 37,844

SEGMENT AND GEOGRAPHIC INFORM77

SEGMENT AND GEOGRAPHIC INFORMATION (Products) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)categoriessegments	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Revenue from External Customer
Total sales	$ 142,587	$ 136,992	$ 133,570	$ 131,604	$ 128,801	$ 117,787	$ 113,573	$ 114,210	$ 544,753	$ 474,371	$ 434,459
Textuals [Abstract]
Number of reportable segments | segments									1
Number of product categories | categories									2
Innovative Fusion
Revenue from External Customer
Total sales									$ 288,062	270,852	254,033
Disruptive Technology
Revenue from External Customer
Total sales									$ 256,691	$ 203,519	$ 180,426

QUARTERLY FINANCIAL DATA (una78

QUARTERLY FINANCIAL DATA (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Sales	$ 142,587	$ 136,992	$ 133,570	$ 131,604	$ 128,801	$ 117,787	$ 113,573	$ 114,210	$ 544,753	$ 474,371	$ 434,459
Gross Profit	107,522	103,940	100,991	99,497	97,525	90,101	86,990	88,898	411,950	363,514	334,116
Net income	$ 37,601	$ 26,481	$ 24,054	$ 24,648	$ 27,638	$ 23,061	$ 20,647	$ 21,139	$ 112,784	$ 92,485	$ 68,612
Net earnings per common share - basic	$ 0.39	$ 0.28	$ 0.25	$ 0.26	$ 0.29	$ 0.24	$ 0.22	$ 0.23	$ 1.19	$ 0.98	$ 0.74
Net earnings per common share - dilutive	$ 0.39	$ 0.28	$ 0.25	$ 0.26	$ 0.29	$ 0.24	$ 0.22	$ 0.22	$ 1.17	$ 0.97	$ 0.73

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - USD ($) $ in Thousands	Jan. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsequent Event
Gain Related to Litigation Settlement		$ 7,600
Decrease/(increase) in restricted cash		$ (2,749)	$ (23,370)	$ 0
Subsequent Event
Subsequent Event
Payments for Legal Settlements	$ 7,900
Decrease/(increase) in restricted cash	$ 8,400

VALUATION ACCOUNTS AND QUALIF80

VALUATION ACCOUNTS AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning of period	$ 1,647	$ 1,581	$ 961
Additions	1,455	318	693
Write-offs	(589)	(252)	(73)
End of period	2,513	1,647	1,581
Deferred tax valuation allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning of period	45	327	533
Additions	0	0	0
Write-offs	(2)	(282)	(206)
End of period	$ 43	$ 45	$ 327