Enovis (ENOV) 10-Q 28 Jul 21 2021 FY Quarterly report Financial data

COVER PAGE

COVER PAGE	6 Months Ended
	Jul. 02, 2021shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 2, 2021
Document Transition Report	false
Entity File Number	001-34045
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1887631
Entity Address, Address Line One	2711 Centerville Road,
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Wilmington,
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19808
City Area Code	(302)
Local Phone Number	252-9160
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	142,341,646
Entity Registrant Name	Colfax CORP
Entity Central Index Key	0001420800
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	CFX
Security Exchange Name	NYSE
Tangible Equity Unit
Entity Information [Line Items]
Title of 12(b) Security	5.75% Tangible Equity Units
Trading Symbol	CFXA
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Income Statement [Abstract]
Net sales	$ 985,928	$ 620,360	$ 1,865,139	$ 1,436,716
Cost of sales	566,944	379,274	1,075,078	847,416
Gross profit	418,984	241,086	790,061	589,300
Selling, general and administrative expense	337,563	235,727	643,287	527,924
Restructuring and other related charges	5,480	10,280	9,526	19,460
Operating income (loss)	75,941	(4,921)	137,248	41,916
Pension settlement gain	(11,208)	0	(11,208)	0
Interest expense, net	17,805	28,284	43,465	53,080
Loss on extinguishment of debt	29,870	0	29,870	0
Income (loss) from continuing operations before income taxes	39,474	(33,205)	75,121	(11,164)
Income tax expense (benefit)	8,155	(30,063)	16,072	(16,890)
Net income (loss) from continuing operations	31,319	(3,142)	59,049	5,726
Loss from discontinued operations, net of taxes	(1,617)	(4,905)	(9,107)	(8,265)
Net income (loss)	29,702	(8,047)	49,942	(2,539)
Less: income attributable to noncontrolling interest, net of taxes	1,060	427	2,226	1,454
Net income (loss) attributable to Colfax Corporation	$ 28,642	$ (8,474)	$ 47,716	$ (3,993)
Net income (loss) per share - basic
Net income (loss) per share, continuing operations, basic (in usd per share)	$ 0.20	$ (0.03)	$ 0.39	$ 0.03
Net income (loss) per share, discontinued operations, basic (in usd per share)	(0.01)	(0.04)	(0.06)	(0.06)
Net income (loss) per share, consolidated, basic (in usd per share)	0.19	(0.06)	0.33	(0.03)
Net income (loss) per share - diluted
Net income (loss) per share, continuing operations, diluted (in usd per share)	0.19	(0.03)	0.38	0.03
Net income (loss) per share, discontinued operations, diluted (in usd per share)	(0.01)	(0.04)	(0.06)	(0.06)
Net income (loss) per share, consolidated operations, (in usd per share)	$ 0.18	$ (0.06)	$ 0.32	$ (0.03)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 29,702	$ (8,047)	$ 49,942	$ (2,539)
Other comprehensive income (loss):
Foreign currency translation, net of tax expense (benefit) of $896, $(125), $3,176 and $394	8,784	71,866	(44,397)	(100,926)
Unrealized gain (loss) on hedging activities, net of tax expense (benefit) of $(737), $(3,977), $3,506 and $(104)	(2,150)	(11,660)	10,231	(624)
Amounts reclassified from Accumulated other comprehensive loss:
Amortization of pension and other post-retirement net actuarial gain, net of tax expense of $314, $185, $631 and $437	1,045	796	2,100	1,662
Other comprehensive income (loss)	7,679	61,002	(32,066)	(99,888)
Comprehensive income (loss)	37,381	52,955	17,876	(102,427)
Less: comprehensive income (loss) attributable to noncontrolling interest	(369)	772	673	(795)
Comprehensive income (loss) attributable to Colfax Corporation	$ 37,750	$ 52,183	$ 17,203	$ (101,632)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) [Parenthetical] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax	$ 896	$ (125)	$ 3,176	$ 394
Unrealized gain on hedging activities, tax	(737)	(3,977)	3,506	(104)
Amortization of pension and other post-retirement net actuarial loss, tax	$ 314	$ 185	$ 631	$ 437

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 62,309	$ 97,068
Trade receivables, less allowance for credit losses of $34,211 and $37,666	599,877	517,006
Inventories, net	663,540	564,822
Prepaid expenses	77,500	69,515
Other current assets	75,746	113,418
Total current assets	1,478,972	1,361,829
Property, plant and equipment, net	480,119	486,960
Goodwill	3,399,030	3,314,541
Intangible assets, net	1,678,421	1,663,446
Lease asset - right of use	162,778	173,942
Other assets	360,176	350,831
Total assets	7,559,496	7,351,549
LIABILITIES AND EQUITY
Current portion of long-term debt	20,480	27,074
Accounts payable	453,716	330,251
Accrued liabilities	425,223	454,333
Total current liabilities	899,419	811,658
Long-term debt, less current portion	1,576,517	2,204,169
Non-current lease liability	131,541	139,230
Other liabilities	600,059	608,618
Total liabilities	3,207,536	3,763,675
Equity:
Common stock, $0.001 par value; 400,000,000 shares authorized; 142,341,646 and 118,496,687 issued and outstanding as of July 2, 2021 and December 31, 2020, respectively	142	118
Additional paid-in capital	4,225,248	3,478,008
Retained earnings	565,083	517,367
Accumulated other comprehensive loss	(482,619)	(452,106)
Total Colfax Corporation equity	4,307,854	3,543,387
Noncontrolling interest	44,106	44,487
Total equity	4,351,960	3,587,874
Total liabilities and equity	$ 7,559,496	$ 7,351,549

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheet (Parenthetical) [Abstract]
Trade receivables, allowance for doubtful accounts	$ 34,211	$ 37,666
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	400,000,000	400,000,000
Common Stock, Shares, Issued	142,341,646	118,496,687
Common Stock, Shares, Outstanding	142,341,646	118,496,687

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Balance at Dec. 31, 2019	$ 3,489,628	$ (4,818)	$ 118	$ 3,445,597	$ 479,560	$ (4,818)	$ (483,845)	$ 48,198
Beginning Balance, Shares (in shares) at Dec. 31, 2019			118,059,082
Net income (loss)	5,508				4,481			1,027
Distributions to noncontrolling owners	(8)							(8)
Other comprehensive loss, net of tax	(160,890)						(158,297)	(2,593)
Common stock-based award activity (in shares)			268,323
Common stock-based award activity	8,344			8,344
Balance at Apr. 03, 2020	3,337,764		$ 118	3,453,941	479,223		(642,142)	46,624
Ending Balance, Shares (in shares) at Apr. 03, 2020			118,327,405
Balance at Dec. 31, 2019	3,489,628	$ (4,818)	$ 118	3,445,597	479,560	$ (4,818)	(483,845)	48,198
Beginning Balance, Shares (in shares) at Dec. 31, 2019			118,059,082
Net income (loss)	(2,539)
Other comprehensive loss, net of tax	(99,888)
Balance at Jul. 03, 2020	3,395,576		$ 118	3,462,532	470,749		(581,484)	43,661
Ending Balance, Shares (in shares) at Jul. 03, 2020			118,389,013
Balance at Apr. 03, 2020	3,337,764		$ 118	3,453,941	479,223		(642,142)	46,624
Beginning Balance, Shares (in shares) at Apr. 03, 2020			118,327,405
Net income (loss)	(8,047)				(8,474)			427
Distributions to noncontrolling owners	(3,734)							(3,734)
Other comprehensive loss, net of tax	61,002						60,658	344
Common stock-based award activity (in shares)			61,608
Common stock-based award activity	8,591			8,591
Balance at Jul. 03, 2020	3,395,576		$ 118	3,462,532	470,749		(581,484)	43,661
Ending Balance, Shares (in shares) at Jul. 03, 2020			118,389,013
Balance at Dec. 31, 2020	3,587,874		$ 118	3,478,008	517,367		(452,106)	44,487
Beginning Balance, Shares (in shares) at Dec. 31, 2020			118,496,687
Net income (loss)	20,240				19,074			1,166
Distributions to noncontrolling owners	(1,054)							(1,054)
Other comprehensive loss, net of tax	(39,745)						(39,621)	(124)
Conversion of tangible equity units into common stock			344,412
Common stock repurchases	(971)			(971)
Common stock repurchases (in shares)			(21,082)
Common stock offering, net of issuance costs	711,321		$ 16	711,305
Common stock offering, net of issuance costs (in shares)			16,100,000
Common stock-based award activity (in shares)			677,314
Common stock-based award activity	13,404		$ 1	13,403
Balance at Apr. 02, 2021	4,291,069		$ 135	4,201,745	536,441		(491,727)	44,475
Ending Balance, Shares (in shares) at Apr. 02, 2021			135,597,331
Balance at Dec. 31, 2020	3,587,874		$ 118	3,478,008	517,367		(452,106)	44,487
Beginning Balance, Shares (in shares) at Dec. 31, 2020			118,496,687
Net income (loss)	49,942
Other comprehensive loss, net of tax	(32,066)
Conversion of tangible equity units into common stock			6,500,000
Balance at Jul. 02, 2021	4,351,960		$ 142	4,225,248	565,083		(482,619)	44,106
Ending Balance, Shares (in shares) at Jul. 02, 2021			142,341,646
Balance at Apr. 02, 2021	4,291,069		$ 135	4,201,745	536,441		(491,727)	44,475
Beginning Balance, Shares (in shares) at Apr. 02, 2021			135,597,331
Net income (loss)	29,702				28,642			1,060
Other comprehensive loss, net of tax	7,679						9,108	(1,429)
Conversion of tangible equity units into common stock			$ 6	(6)
Conversion of tangible equity units into common stock			6,174,000
Common stock repurchases	(32)			(32)
Common stock repurchases (in shares)			(710)
Common stock-based award activity (in shares)			571,025
Common stock-based award activity	23,542		$ 1	23,541
Balance at Jul. 02, 2021	$ 4,351,960		$ 142	$ 4,225,248	$ 565,083		$ (482,619)	$ 44,106
Ending Balance, Shares (in shares) at Jul. 02, 2021			142,341,646

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENT OF EQUITY Statement of Stockholders' Equity [Parenthetical] - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2021	Apr. 02, 2021	Jul. 03, 2020	Apr. 03, 2020
Statement of Stockholders' Equity [Parenthetical] [Abstract]
Other comprehensive income, tax	$ 473	$ 6,840	$ (3,917)	$ 4,644

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020
Statement of Cash Flows [Abstract]
Net income	$ 49,942	$ (2,539)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other impairment charges	128,721	120,038
Stock-based compensation expense	17,262	14,685
Non-cash interest expense	2,676	2,743
Deferred income tax benefit	(3,865)	(19,857)
Gain on sale of property, plant and equipment	(1,437)	(3,400)
Loss on debt extinguishment	29,870	0
Changes in operating assets and liabilities:
Trade receivables, net	(83,458)	89,231
Inventories, net	(79,338)	352
Accounts payable	124,354	(47,436)
Other operating assets and liabilities	(21,975)	(60,603)
Net cash provided by operating activities	162,752	93,214
Cash flows from investing activities:
Purchases of property, plant and equipment	(44,641)	(50,426)
Proceeds from sale of property, plant and equipment	3,191	4,996
Acquisitions, net of cash received, and investments	(230,650)	(7,548)
Net cash used in investing activities	(272,100)	(52,978)
Cash flows from financing activities:
Proceeds from borrowings on revolving credit facilities and other	455,641	635,678
Repayments of borrowings on revolving credit facilities and other	(383,384)	(698,910)
Repayments of borrowings on senior notes	(700,000)	0
Proceeds from issuance of common stock, net	730,002	2,250
Payment of debt extinguishment costs	(24,375)	0
Deferred consideration payments and other	(6,201)	(16,431)
Net cash provided by (used in) financing activities	71,683	(77,413)
Effect of foreign exchange rates on Cash and cash equivalents and Restricted cash	(1,095)	(6,059)
Decrease in Cash and cash equivalents and Restricted cash	(38,760)	(43,236)
Cash and cash equivalents and Restricted Cash, beginning of period	101,069	109,632
Cash and cash equivalents, end of period	$ 62,309	$ 66,396

General

General	6 Months Ended
	Jul. 02, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Colfax Corporation (the “Company” or “Colfax”) is a leading diversified technology company that provides fabrication technology and medical device products and services to customers around the world, principally under the ESAB and DJO brands. The Company conducts its operations through two operating segments, “Fabrication Technology”, which incorporates the operations of ESAB and its related brands, and “Medical Technology”, which incorporates the operations of DJO and its related brands. On March 4, 2021, the Company announced its intention to separate its fabrication technology and specialty medical technology businesses into two differentiated, independent, and publicly traded companies. The current Colfax entity will retain the specialty medical technology business under a new name, while the fabrication technology business will operate independently under the existing ESAB brand name. The separation is intended to be structured in a tax-free manner and is targeted to be completed in the first quarter of 2022. The assets, liabilities, revenues and expenses of the fabrication technology businesses are included in continuing operations of the Company in the accompanying Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements included in this quarterly report have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements. Certain prior period amounts have been reclassified to conform to the current period presentation. The Condensed Consolidated Balance Sheet as of December 31, 2020 is derived from the Company’s audited financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the SEC’s rules and regulations for interim financial statements. The Condensed Consolidated Financial Statements included herein should be read in conjunction with the audited financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Form 10-K”), filed with the SEC on February 18, 2021. The Condensed Consolidated Financial Statements reflect, in the opinion of management, all adjustments, which consist solely of normal recurring adjustments, necessary to present fairly the Company’s financial position and results of operations as of and for the periods indicated. Intercompany transactions and accounts are eliminated in consolidation. The Company makes certain estimates and assumptions in preparing its Condensed Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates. In the normal course of business, the Company incurs research and development costs related to new product development which are expensed as incurred and included in Selling, general and administrative expense on the Company’s Condensed Consolidated Statements of Operations. Research and development costs were $21.3 million and $41.2 million during the three and six months ended July 2, 2021, respectively, and $14.1 million and $32.6 million during the three and six months ended July 3, 2020, respectively. During the three months ended July 2, 2021, the Company used the proceeds from its March 2021 equity offering to redeem all $600 million of its 2024 senior notes and $100 million of outstanding principal on its 2026 senior notes. The Company paid an early redemption premium of $24.4 million and recorded a loss on the extinguishment of $29.9 million. Additionally, during the three months ended July 2, 2021, a pension settlement gain of $11.2 million was recognized when the independent trustees of a company pension plan agreed to merge that plan with another company pension plan and contribute its surplus assets. The results of operations for the three and six months ended July 2, 2021 are not necessarily indicative of the results of operations that may be achieved for the full year. Quarterly results are affected by seasonal variations in the Company’s businesses, and European operations typically experience a slowdown during the July, August and December holiday seasons. Medical Technology sales typically peak in the fourth quarter. General economic conditions may, however, impact future seasonal variations. In December 2019, a novel coronavirus disease (“COVID-19”) was first reported in China. On March 11, 2020, due to worldwide spread of the virus, the World Health Organization characterized COVID-19 as a pandemic. The COVID-19 global

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
	Jul. 02, 2021
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Accounting Guidance Implemented in 2021 Standard Description Effective Date ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans The ASU modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The adoption of this ASU did not have a material impact on the Company’s Condensed Consolidated Financial Statements. January 1, 2021 ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The ASU eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of accounting for income taxes. The Company adopted this ASU as of January 1, 2021 on a prospective basis, and the adoption did not have a material impact on the Company’s Condensed Consolidated Financial Statements. January 1, 2021

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jul. 02, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations The Company retained certain asbestos-related contingencies and insurance coverages from divested businesses for which it did not retain an interest in the ongoing operations subject to the contingencies. The Company has classified asbestos-related selling, general and administrative activity in its Condensed Consolidated Statements of Operations as part of Loss from discontinued operations, net of taxes. Asbestos-related costs, net of taxes were $1.6 million and $2.5 million during the three and six months ended July 2, 2021, respectively, and $1.4 million and $2.8 million during the three and six months ended July 3, 2020, respectively . See Note 13, “Commitments and Contingencies” for further information. The Company also recorded Loss from discontinued operations, net of taxes of $0.1 million and $6.6 million during the three and six months ended July 2, 2021, respectively, and $3.5 million and $5.5 million during the three and six months ended July 3, 2020, respectively, related to its divested air and gas handling business, including a settlement executed in the first quarter of 2021, as well as certain professional, legal, and consulting fees in 2020. Cash used in operating activities related to discontinued operations for the six months ended July 2, 2021 and July 3, 2020 was $4.6 million and $7.9 million, respectively.

Acquisitions Acquisitions (Note

Acquisitions Acquisitions (Notes)	6 Months Ended
	Jul. 02, 2021
Business Combinations [Abstract]
Acquisition	AcquisitionsThe Company completed one acquisition in its Fabrication Technology segment and three acquisitions in its Medical Technology segment during the six months ended July 2, 2021 for total consideration, net of cash received, of $215.9 million. The acquisitions are accounted for under the acquisition method of accounting, and accordingly, the Condensed Consolidated Financial Statements include the financial position and results of operations from the respective acquisition date. The Condensed Consolidated Balance Sheet as of July 2, 2021 reflects our preliminary estimates of fair value and are subject to adjustment. The Company also made two investments in medical technology businesses during the six months ended July 2, 2021 for a total of $14.8 million. Both investments are carried at cost, as they do not have a readily determinable fair value. In the first quarter of 2021 the Medical Technology segment acquired Trilliant Surgical (“Trilliant”), a national provider of foot and ankle orthopedic implants. The product technologies of Trilliant support the Medical Technology segment’s focused expansion into the adjacent foot and ankle market. Trilliant has a broad product portfolio that covers the full universe of foot reconstructive and fixation procedures, and includes the novel Arsenal Foot Plating System, designed for greater flexibility and speed of implant placement. In the second quarter of 2021, the Medical Technology segment acquired MedShape, Inc. (“MedShape”), a provider of innovative surgical solutions for foot and ankle surgeons using its patented superelastic nickel titanium (NiTiNOL) and shape memory polymer technologies. This acquisition further expands the Company's foot and ankle platform. These two acquisitions were completed for total consideration, net of cash received, of $205.4 million, subject to certain adjustments. Net working capital and intangible assets acquired represent 9% and 47% of the total consideration paid for these two acquisitions, respectively, with the residual amount primarily attributable to Goodwill. The Goodwill acquired in the Trilliant acquisition is expected to be deductible for income tax purposes. The estimated proforma annual revenues, as if the Trilliant and MedShape acquisitions occurred on January 1, 2021, are approximately 1% of Colfax’s consolidated revenues.

Revenue

Revenue	6 Months Ended
	Jul. 02, 2021
Revenue [Abstract]
Revenue	Revenue The Company’s Fabrication Technology segment formulates, develops, manufactures and supplies consumable products and equipment. Substantially all revenue from the Fabrication Technology business is recognized at a point in time. The Company disaggregates its Fabrication Technology revenue into the following product groups: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands) Equipment $ 198,856 $ 129,033 $ 372,606 $ 285,833 Consumables 430,948 285,334 825,326 654,071 Total $ 629,804 $ 414,367 $ 1,197,932 $ 939,904 Contracts with customers in the consumables product grouping generally have a shorter fulfillment period than equipment contracts. The Company’s Medical Technology segment provides products and services spanning the orthopedic continuum of patient care, from injury prevention to rehabilitation. While the Company’s Medical Technology sales are primarily derived from three sales channels including dealers and distributors, insurance, and direct to consumers and hospitals, substantially all its revenue is recognized at a point in time. The Company disaggregates its Medical Technology revenue into the following product groups: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands) Prevention & Recovery (1) $ 269,968 $ 159,851 $ 505,206 $ 383,636 Reconstructive 86,156 46,142 162,001 113,176 Total $ 356,124 $ 205,993 $ 667,207 $ 496,812 (1) For the periods presented, the Prevention & Recovery product group includes bone growth stimulation products, which were previously classified as part of the Reconstructive product group. Given the nature of the Fabrication Technology and Medical Technology businesses, the total amount of unsatisfied performance obligations with an original contract duration of greater than one year as of July 2, 2021 is immaterial. The nature of the Company’s contracts gives rise to certain types of variable consideration, including rebates, implicit price concessions, and other discounts. The Company includes estimated amounts of variable consideration in the transaction price to the extent that it is probable there will not be a significant reversal of revenue. In some circumstances, customers are billed in advance of revenue recognition, resulting in contract liabilities. As of December 31, 2020 and 2019, total contract liabilities were $36.6 million and $14.8 million, respectively. During the three and six months ended July 2, 2021, revenue recognized that was included in the contract liability balance at the beginning of the year was $5.1 million and $19.4 million, respectively. During the three and six months ended July 3, 2020, revenue recognized that was included in the contract liability balance at the beginning of the year was $3.8 million and $8.7 million, respectively. As of July 2, 2021 and July 3, 2020, total contract liabilities were $33.5 million and $33.1 million, respectively, and were included in Accrued liabilities on the Company’s Condensed Consolidated Balance Sheets. The contract liabilities as of July 2, 2021 and December 31, 2020 include $9.9 million and $11.8 million of certain one-time advance payments in the Medical Technology business, respectively. Allowance for Credit Losses The Company’s estimate of current expected credit losses on trade receivables considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. In calculating and applying its current expected credit losses, the Company disaggregates trade receivables into business segments due to risk characteristics unique to each segment given the individual lines of business and market. The business segments are further disaggregated based on either geography or product type. The Company uses a loss rate methodology in calculating its current expected credit losses, leveraging historical write-offs over a defined lookback period in deriving a historical loss rate. The expected credit loss model further considers current conditions and reasonable and supportable forecasts using an adjustment for current and projected macroeconomic factors. Management identified appropriate macroeconomic indicators based on tangible correlation to historical losses considering the location and risks associated with the Company. A summary of the activity in the Company’s allowance for credit losses included within Trade receivables in the Condensed Consolidated Balance Sheets is as follows: Six Months Ended July 2, 2021 Balance at Charged to Expense, net Write-Offs and Deductions Foreign Balance at (In thousands) Allowance for credit losses $ 37,666 $ 579 $ (3,440) $ (594) $ 34,211

Net Income (Loss) Per Share fro

Net Income (Loss) Per Share from Continuing Operations	6 Months Ended
	Jul. 02, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Per Share from Continuing Operations	Net Income (Loss) Per Share from Continuing Operations Net income per share from continuing operations was computed as follows: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands, except share and per share data) Computation of Net income (loss) per share from continuing operations - basic: Net income (loss) from continuing operations attributable to Colfax Corporation (1) $ 30,259 $ (3,569) $ 56,823 $ 4,272 Weighted-average shares of Common stock outstanding – basic 153,875,957 136,756,449 146,708,649 136,677,521 Net income (loss) per share from continuing operations – basic $ 0.20 $ (0.03) $ 0.39 $ 0.03 Computation of Net income (loss) per share from continuing operations - diluted: Net income (loss) from continuing operations attributable to Colfax Corporation (1) $ 30,259 $ (3,569) $ 56,823 $ 4,272 Weighted-average shares of Common stock outstanding – basic 153,875,957 136,756,449 146,708,649 136,677,521 Net effect of potentially dilutive securities - stock options, restricted stock units and tangible equity units 1,987,368 — 2,077,643 2,880,841 Weighted-average shares of Common stock outstanding – diluted 155,863,325 136,756,449 148,786,292 139,558,362 Net income (loss) per share from continuing operations – diluted $ 0.19 $ (0.03) $ 0.38 $ 0.03 (1) Net income (loss) from continuing operations attributable to Colfax Corporation for the respective periods is calculated using Net income (loss) from continuing operations less the income attributable to noncontrolling interest, net of taxes, of $1.1 million and $2.2 million for the three and six months ended July 2, 2021, respectively, and $0.4 million and $1.5 million for the three and six months ended July 3, 2020, respectively. For all periods presented, the weighted-average shares of Common stock outstanding - basic includes the impact of 18.4 million shares related to the issuance of Colfax’s tangible equity units. During the three and six months ended July 2, 2021, conversions of the Company’s tangible equity units resulted in the issuance of approximately 6.2 million and 6.5 million shares of Colfax common stock, respectively. The issued shares are included in the Common stock issued and outstanding as July 2, 2021. For the six months ended July 3, 2020, the weighted-average shares of Common stock outstanding - diluted includes the impact of an additional 1.9 million potentially issuable dilutive shares related to Colfax’s tangible equity units as a result of the Company’s share price in March 2020. See Note 8, “Equity” for details. The weighted-average computation of the dilutive effect of potentially issuable shares of Common stock under the treasury stock method for the three and six months ended July 2, 2021 excludes 1.6 million and 1.3 million, respectively, of outstanding stock-based compensation awards as their inclusion would be anti-dilutive. The weighted-average computation of the dilutive effect of potentially issuable shares of Common stock under the treasury stock method for the three and six months ended July 3, 2020 excludes 4.9 million and 4.2 million, respectively, of outstanding stock-based compensation awards as their inclusion would be anti-dilutive.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 02, 2021
Income Tax Disclosure [Abstract]
Income Taxes	During the three and six months ended July 2, 2021, Income from continuing operations before income taxes was $39.5 million and $75.1 million, respectively, while the income tax expense was $8.2 million and $16.1 million, respectively. The effective tax rates were 20.7% and 21.4% for the three and six months ended July 2, 2021, respectively, which both differed slightly from the 2021 U.S. federal statutory rate of 21% mainly due to the effective settlements on uncertain tax positions and U.S. tax credits, offset by withholding taxes, U.S. tax on international operations, and other non-deductible expenses.

Equity

Equity	6 Months Ended
	Jul. 02, 2021
Equity [Abstract]
Equity	Equity Common Stock On March 19, 2021, the Company completed the underwritten public offering of 16.1 million shares of Colfax Common stock at a price to the public of $46.00 per share, resulting in net proceeds of approximately $711.3 million, after deducting offering expenses and underwriters’ discount and commissions. Share Repurchase Program In 2018, the Company’s Board of Directors authorized the repurchase of shares of the Company’s Common stock from time-to-time on the open market or in privately negotiated transactions. No repurchases of the Company’s Common stock have been made under this plan since the third quarter of 2018. As of July 2, 2021, the remaining stock repurchase authorization provided by the Board of Directors was $100 million. The timing, amount and method of shares repurchased is determined by management based on its evaluation of market conditions and other factors. There is no term associated with the remaining repurchase authorization. Accumulated Other Comprehensive Loss The following tables present the changes in the balances of each component of Accumulated other comprehensive loss including reclassifications out of Accumulated other comprehensive loss for the six months ended July 2, 2021 and July 3, 2020. All amounts are net of tax and noncontrolling interest, if any. Accumulated Other Comprehensive Loss Components Net Unrecognized Pension and Other Post-Retirement Benefit Cost Foreign Currency Translation Adjustment Unrealized Gain on Hedging Activities Total (In thousands) Balance at January 1, 2021 $ (112,783) $ (360,977) $ 21,654 $ (452,106) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 583 (71,276) (2,076) (72,769) Gain on long-term intra-entity foreign currency transactions — 29,925 — 29,925 Gain on net investment hedges — — 10,231 10,231 Other comprehensive income (loss) before reclassifications 583 (41,351) 8,155 (32,613) Amounts reclassified from Accumulated other comprehensive loss 2,100 — — 2,100 Net Other comprehensive income (loss) 2,683 (41,351) 8,155 (30,513) Balance at July 2, 2021 $ (110,100) $ (402,328) $ 29,809 $ (482,619) Accumulated Other Comprehensive Loss Components Net Unrecognized Pension and Other Post-Retirement Benefit Cost Foreign Currency Translation Adjustment Unrealized Gain on Hedging Activities Total (In thousands) Balance at January 1, 2020 $ (106,500) $ (421,889) $ 44,544 $ (483,845) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 554 (68,494) (1,276) (69,216) Loss on long-term intra-entity foreign currency transactions — (31,841) — (31,841) Gain on net investment hedges — — 1,756 1,756 Other comprehensive income (loss) before reclassifications 554 (100,335) 480 (99,301) Amounts reclassified from Accumulated other comprehensive loss 1,662 — — 1,662 Net Other comprehensive income (loss) 2,216 (100,335) 480 (97,639) Balance at July 3, 2020 $ (104,284) $ (522,224) $ 45,024 $ (581,484) Tangible equity unit (“TEU”) offering On January 11, 2019, the Company issued 4.6 million TEUs at the stated amount of $100 per unit. Net cash of $447.7 million was received upon closing. A portion of the proceeds from the issuance of the TEUs were allocated initially to equity (the “TEU prepaid stock purchase contract”) and debt (the “TEU amortizing notes”) based on the relative fair value of the respective components of each TEU. See Note 10, “Debt ” for further information regarding the TEU amortizing notes. TEU prepaid stock purchase contracts Unless previously settled at the holder’s option, for each purchase contract the Company will deliver to holders on January 15, 2022 (subject to postponement in certain limited circumstances, the “mandatory settlement date”) a number of shares of common stock. The number of shares of common stock issuable upon settlement of each purchase contract (the “settlement rate”) will be determined using the arithmetic average of the volume average weighted price for the 20 consecutive trading days beginning on, and including, the 21st scheduled trading day immediately preceding January 15, 2022 (“the Applicable Market Value”) with reference to the following settlement rates: • if the Applicable Market Value of the common stock is greater than the threshold appreciation price of $25.00, the holder will receive 4.0000 shares of common stock for each purchase contract (the “minimum settlement rate”); • if the Applicable Market Value of the common stock is greater than or equal to the reference price of $20.81, but less than or equal to the threshold appreciation price of $25.00, the holder will receive a number of shares of common stock for each purchase contract having a value, based on the Applicable Market Value, equal to $100; and • if the Applicable Market Value of the common stock is less than the reference price of $20.81, the holder will receive 4.8054 shares of common stock for each purchase contract (the “maximum settlement rate”). Earnings per share Unless the TEU stock purchase contracts are redeemed by the Company or settled earlier at the unit holder’s option, they are mandatorily convertible into shares of Colfax common stock at not less than 4.0 shares per purchase contract or more than 4.8054 shares per purchase contract on January 15, 2022. This corresponds to not less than 18.4 million shares and not more than 22.1 million shares at the maximum. The 18.4 million minimum shares are included in the calculation of weighted-average shares of Common stock outstanding - basic. The difference between the minimum and maximum shares represents potentially dilutive securities. The Company includes them in its calculation of weighted-average shares of Common stock outstanding - diluted on a pro rata basis to the extent the effect is not anti-dilutive and the average Applicable Market Value is higher than the reference price but is less than the threshold appreciation price. During the three and six months ended July 2,

Inventories, Net (Text Block)

Inventories, Net (Text Block)	6 Months Ended
	Jul. 02, 2021
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories, net consisted of the following: July 2, 2021 December 31, 2020 (In thousands) Raw materials $ 133,447 $ 110,848 Work in process 46,800 40,517 Finished goods 541,800 476,297 722,047 627,662 Less: allowance for excess, slow-moving and obsolete inventory (58,507) (62,840) Inventories, net $ 663,540 $ 564,822

Debt

Debt	6 Months Ended
	Jul. 02, 2021
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consisted of the following: July 2, 2021 December 31, 2020 (In thousands) Term loan $ 781,976 $ 781,557 Euro senior notes 411,659 425,045 2024 and 2026 notes 297,668 991,319 TEU amortizing notes 19,120 31,251 Revolving credit facilities and other 86,574 2,071 Total debt 1,596,997 2,231,243 Less: current portion (20,480) (27,074) Long-term debt $ 1,576,517 $ 2,204,169 Term Loan and Revolving Credit Facility The Company’s credit agreement (the “Credit Facility”) by and among the Company, as the borrower, certain U.S. subsidiaries of the Company, as guarantors, each of the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Citizens Bank, N.A., as syndication agent, and the co-documentation agents named therein consists of a $975 million revolving credit facility (the “Revolver”) and a Term A-1 loan with an initial aggregate principal amount of $825 million (the “Term Loan”), each with a maturity date of December 6, 2024. The Revolver contains a $50 million swing line loan sub-facility. Certain U.S. subsidiaries of the Company guarantee the obligations under the Credit Facility. The Credit Facility contains customary covenants limiting the ability of Colfax and its subsidiaries to, among other things, incur debt or liens, merge or consolidate with others, dispose of assets, make investments or pay dividends. In addition, the Credit Facility contains financial covenants requiring Colfax to maintain (subject to certain exceptions) (i) a maximum total leverage ratio, calculated as the ratio of Consolidated Net Debt (as defined in the Credit Facility) to EBITDA (as defined in the Credit Facility) of 5.25:1.00 for the quarter ending June 30, 2021, 4.50:1.00 for the quarter ending September 30, 2021, 4.25:1.00 for the quarters ending December 31, 2021 and March 31, 2022, 4.00:1.00 for the quarters ending June 30, 2022 and September 30, 2022, and 3.50:1.00 as of December 31, 2022 and for each fiscal quarter ending thereafter, and (ii) a minimum interest coverage ratio of 2.75:1.00 for each fiscal quarter until June 30, 2021, and then 3.00:1.00 for the quarters ending September 30, 2021 and thereafter. The Credit Facility also includes a “springing” collateral provision (based upon the Gross Leverage Ratio as defined in the Amendment to the Credit Facility) which requires the obligations under the Amendment to the Credit Facility to be secured by substantially all personal property of Colfax and its U.S. subsidiaries and the equity of its first tier foreign subsidiaries, subject to customary exceptions, in the event Colfax’s gross leverage ratio under the Credit Facility is greater than 5.00:1.00 as of the last day of any fiscal quarter. The Credit Facility contains various events of default (including failure to comply with the covenants under the Credit Facility and related agreements) and upon an event of default the lenders may, subject to various customary cure rights, require the immediate payment of all amounts outstanding under the Term Loan and the Revolver. As of July 2, 2021, the Company was in compliance with the covenants under the Credit Facility. As of July 2, 2021, the weighted-average interest rate of borrowings under the Credit Facility was 1.84%, excluding accretion of original issue discount and deferred financing fees, and there was $890 million available on the Revolver. Euro Senior Notes The Company has senior unsecured notes with an aggregate principal amount of €350 million (the “Euro Notes”). The Euro Notes are due in April 2025, have an interest rate of 3.25% and are guaranteed by certain of our domestic subsidiaries (the “Guarantees”). The Euro Notes and the Guarantees have not been, and will not be, registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction. TEU Amortizing Notes Each TEU amortizing note has an initial principal amount of $15.6099, bears interest at a rate of 6.50% per annum, and has equal quarterly cash installments of $1.4375 per TEU amortizing note with a final installment payment date of January 15, 2022. The quarterly cash installment constitutes a payment of interest and a partial repayment of principal. The Company paid $12.3 million and $11.5 million of principal on the TEU amortizing notes in the six months ended July 2, 2021 and July 3, 2020, respectively. The TEU amortizing notes are the direct, unsecured and unsubordinated obligations of the Company and rank equally with all of the existing and future other unsecured and unsubordinated indebtedness of the Company. For more information on the TEUs, refer to Note 8, “Equity.” 2024 Notes and 2026 Notes The Company had senior notes with an initial aggregate principal amount of $600 million (the “2024 Notes”), which were due on February 15, 2024 and had an interest rate of 6.0%. The Company has senior notes with an aggregate initial principal amount of $400 million (the “2026 Notes”), which are due on February 15, 2026 and have an interest rate of 6.375%. The 2026 Notes are guaranteed by certain domestic subsidiaries of the Company. On April 24, 2021, the Company redeemed all $600 million outstanding principal amount of its 2024 Notes and $100 million of the outstanding principal amount of its 2026 Notes for $724.4 million. The 2024 Notes were redeemed at a redemption price of 103.000% of their principal amount and the 2026 Notes were redeemed at a redemption price of 106.375% of their principal amount, plus, in each case, accrued and unpaid interest through the date of redemption. In the second quarter of 2021, a net loss on the early extinguishment of debt of $29.9 million was recorded and included $24.4 million of call premium on the retired debt. Other Indebtedness In addition to the debt agreements discussed above, the Company is party to various bilateral credit facilities with a borrowing capacity of $192.6 million. As of July 2, 2021, there were no outstanding borrowings under these facilities. The Company is party to letter of credit facilities with an aggregate capacity of $339.8 million. Total letters of credit of $70.1 million were outstanding as of July 2, 2021. Deferred Financing Fees In total, deferred financing fees related to the Company’s debt activities were $14.4 million as of July 2, 2021, which will be charged to Interest expense, net, primarily using the effective interest method, over the life of the applicable debt agreements.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jul. 02, 2021
Accrued Liabilities [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following: July 2, 2021 December 31, 2020 (In thousands) Accrued compensation and related benefits $ 108,835 $ 98,455 Accrued taxes 38,152 57,286 Accrued asbestos-related liability 45,640 41,626 Warranty liability - current portion 17,203 15,543 Accrued restructuring liability - current portion 6,005 7,889 Accrued third-party commissions 29,574 25,480 Customer advances and billings in excess of costs incurred 33,463 36,737 Lease liability - current portion 36,236 39,695 Accrued interest 10,230 27,153 Other 99,885 104,469 Accrued liabilities $ 425,223 $ 454,333 Warranty Liability The activity in the Company’s warranty liability consisted of the following: Six Months Ended July 2, 2021 July 3, 2020 (In thousands) Warranty liability, beginning of period $ 15,543 $ 15,528 Accrued warranty expense 5,085 3,256 Changes in estimates related to pre-existing warranties 1,062 528 Cost of warranty service work performed (4,699) (4,547) Acquisition-related liability 321 — Foreign exchange translation effect (109) (453) Warranty liability, end of period $ 17,203 $ 14,312 Accrued Restructuring Liability The Company’s restructuring programs include a series of actions to reduce the structural costs of the Company. A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Condensed Consolidated Balance Sheets is as follows: Six Months Ended July 2, 2021 Balance at Beginning of Period Provisions Payments Foreign Currency Translation Balance at End of Period (3) (In thousands) Restructuring and other related charges: Fabrication Technology: Termination benefits (1) $ 5,336 $ 2,551 $ (3,502) $ (19) $ 4,366 Facility closure costs (2) 591 2,905 (3,264) (16) 216 5,927 5,456 (6,766) (35) 4,582 Non-cash charges (2) 1,108 6,564 Medical Technology: Termination benefits (1) 1,884 1,014 (1,496) (8) 1,394 Facility closure costs and other (2) 297 1,948 (1,948) — 297 2,181 2,962 (3,444) (8) 1,691 Non-cash charges (2) — 2,962 Total Colfax Corporation: Total restructuring liability activity $ 8,108 8,418 $ (10,210) $ (43) $ 6,273 Total Non-cash charges 1,108 $ 9,526 (1) Includes severance and other termination benefits, including outplacement services. (2) Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities. (3) As of July 2, 2021, $6.0 million of the Company’s restructuring liability was included in Accrued liabilities, whereas less than $0.3 million of the Company’s restructuring liability was included in Other liabilities.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Jul. 02, 2021
Financial Instruments and Fair Value Measurements [Abstract]
Financial Instruments and Fair Value Measurements	Financial Instruments and Fair Value Measurements The carrying values of financial instruments, including Trade receivables and Accounts payable, approximate their fair values due to their short-term maturities. The $1.6 billion and $2.3 billion estimated fair value of the Company’s debt as of July 2, 2021 and December 31, 2020, respectively, was based on current interest rates for similar types of borrowings and is in Level Two of the fair value hierarchy. The estimated fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future. A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows: July 2, 2021 Level Level Level Total (In thousands) Assets: Cash equivalents $ 6,787 $ — $ — $ 6,787 Foreign currency contracts - not designated as hedges — 1,788 — 1,788 Deferred compensation plans — 12,445 — 12,445 $ 6,787 $ 14,233 $ — $ 21,020 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 4,065 $ — $ 4,065 Deferred compensation plans — 12,445 — 12,445 $ — $ 16,510 $ — $ 16,510 December 31, 2020 Level Level Level Total (In thousands) Assets: Cash equivalents $ 7,420 $ — $ — $ 7,420 Foreign currency contracts - not designated as hedges — 2,194 — 2,194 Deferred compensation plans — 10,881 — 10,881 $ 7,420 $ 13,075 $ — $ 20,495 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 1,781 $ — $ 1,781 Deferred compensation plans — 10,881 — 10,881 $ — $ 12,662 $ — $ 12,662 There were no transfers in or out of Level One, Two or Three during the six months ended July 2, 2021. Foreign Currency Contracts As of July 2, 2021 and December 31, 2020, the Company had foreign currency contracts related to purchases and sales with notional values of $322.1 million and $250.4 million, respectively. The Company recognized the following in its Condensed Consolidated Financial Statements related to its derivative instruments: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands) Contracts Designated as Hedges: Unrealized gain (loss) on net investment hedges (1) $ (2,150) $ (10,424) $ 10,231 $ 1,756 Contracts Not Designated in a Hedge Relationship: Foreign Currency Contracts Unrealized gain (loss) (2,278) (44) (4,889) 2,373 Realized gain (loss) 1,368 (957) 1,419 (1,154) (1)

Commitments and Contingencies (

Commitments and Contingencies (Text Block)	6 Months Ended
	Jul. 02, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies For further description of the Company’s litigation and contingencies, reference is made to Note 18, “Commitments and Contingencies” in the Notes to Consolidated Financial Statements in the Company’s 2020 Form 10-K. Since the Company did not retain an interest in the ongoing operations of its divested businesses, the retained asbestos-related activity has been classified in its Condensed Consolidated Statements of Operations as a component of Loss from discontinued operations, net of taxes. Asbestos Contingencies Asbestos-related claims activity since December 31 is as follows: Six Months Ended July 2, 2021 July 3, 2020 (Number of claims) Claims unresolved, beginning of period 14,809 16,299 Claims filed (1) 2,178 1,869 Claims resolved (2) (1,607) (1,310) Claims unresolved, end of period 15,380 16,858 (1) Claims filed include all asbestos claims for which notification has been received or a file has been opened. (2) Claims resolved include all asbestos claims that have been settled, dismissed or that are in the process of being settled or dismissed based upon agreements or understandings in place with counsel for the claimants. The Company’s Condensed Consolidated Balance Sheets included the following amounts related to asbestos-related litigation: July 2, 2021 December 31, 2020 (In thousands) Long-term asbestos insurance asset (1) $ 230,160 $ 232,712 Long-term asbestos insurance receivable (1) 23,591 31,815 Accrued asbestos liability (2) 45,640 41,626 Long-term asbestos liability (3) 245,591 253,144 (1) Included in Other assets in the Condensed Consolidated Balance Sheets. (2) Represents current accruals for probable and reasonably estimable asbestos-related liability costs that the Company believes the subsidiaries will pay, and unpaid legal costs related to defending themselves against asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Condensed Consolidated Balance Sheets. (3) Included in Other liabilities in the Condensed Consolidated Balance Sheets. Management’s analyses are based on currently known facts and assumptions. Projecting future events, such as new claims to be filed each year, the average cost of resolving each claim, coverage issues among layers of insurers, the method in which losses will be allocated to the various insurance policies, interpretation of the effect on coverage of various policy terms and limits and their interrelationships, the continuing solvency of various insurance companies, the amount of remaining insurance available, as well as the numerous uncertainties inherent in asbestos litigation could cause the actual liabilities and insurance recoveries to be higher or lower than those projected or recorded which could materially affect the Company’s financial condition, results of operations or cash flow. General Litigation

Segment Information

Segment Information	6 Months Ended
	Jul. 02, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The Company conducts its continuing operations through the Fabrication Technology and Medical Technology operating segments, which also represent the Company’s reportable segments. ▪ Fabrication Technology - a leading global supplier of consumable products and equipment for use in the cutting, joining and automated welding, as well as gas control equipment, providing a wide range of products with innovative technologies to solve challenges in a wide range of industries. • Medical Technology - a leader in orthopedic solutions, providing devices, software and services spanning the full continuum of patient care, from injury prevention to joint replacement to rehabilitation. Certain amounts not allocated to the two reportable segments and intersegment eliminations are reported under the heading “Corporate and other.” The Company’s management evaluates the operating results of each of its reportable segments based upon Net sales and segment operating income (loss), which represents Operating income (loss) before Restructuring and other related charges and European Union Medical Devices Regulation (“MDR”) and other costs. The Company’s segment results were as follows: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands) Net sales: Fabrication Technology $ 629,804 $ 414,367 $ 1,197,932 $ 939,904 Medical Technology 356,124 205,993 667,207 496,812 $ 985,928 $ 620,360 $ 1,865,139 $ 1,436,716 Segment operating income (loss) (1) : Fabrication Technology $ 94,397 $ 43,609 $ 176,702 $ 112,645 Medical Technology 18,247 (20,796) 20,409 (16,992) Corporate and other (29,304) (15,573) (46,665) (29,651) $ 83,340 $ 7,240 $ 150,446 $ 66,002 (1) Following is a reconciliation of Income (loss) from continuing operations before income taxes to segment operating income: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands) Income (loss) from continuing operations before income taxes $ 39,474 $ (33,205) $ 75,121 $ (11,164) Pension settlement gain (11,208) — (11,208) — Interest expense, net 17,805 28,284 43,465 53,080 Debt extinguishment charges 29,870 — 29,870 — Restructuring and other related charges (1) 5,480 11,161 9,526 22,186 MDR and other costs (2) 1,919 1,000 3,672 1,900 Segment operating income $ 83,340 $ 7,240 $ 150,446 $ 66,002 (1) Restructuring and other related charges includes $0.9 million and $2.7 million of expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and six months ended July 3, 2020, respectively. (2) Primarily related to costs specific to compliance with medical device reporting regulations and other requirements of the European Union MDR. These costs are classified as Selling, general and administrative expense on the Company’s Condensed Consolidated Statements of Operations for all periods presented.

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Jul. 02, 2021
Accounting Policies [Abstract]
Basis of Accounting	The Condensed Consolidated Financial Statements included in this quarterly report have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements. Certain prior period amounts have been reclassified to conform to the current period presentation.
Use of Estimates	The Company makes certain estimates and assumptions in preparing its Condensed Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates. In the normal course of business, the Company incurs research and development costs related to new product development which are expensed as incurred and included in Selling, general and administrative expense on the Company’s Condensed Consolidated Statements of Operations. Research and development costs were $21.3 million and $41.2 million during the three and six months ended July 2, 2021, respectively, and $14.1 million and $32.6 million during the three and six months ended July 3, 2020, respectively. During the three months ended July 2, 2021, the Company used the proceeds from its March 2021 equity offering to redeem all $600 million of its 2024 senior notes and $100 million of outstanding principal on its 2026 senior notes. The Company paid an early redemption premium of $24.4 million and recorded a loss on the extinguishment of $29.9 million. Additionally, during the three months ended July 2, 2021, a pension settlement gain of $11.2 million was recognized when the independent trustees of a company pension plan agreed to merge that plan with another company pension plan and contribute its surplus assets.
New Accounting Pronouncements	Accounting Guidance Implemented in 2021 Standard Description Effective Date ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans The ASU modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The adoption of this ASU did not have a material impact on the Company’s Condensed Consolidated Financial Statements. January 1, 2021 ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The ASU eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of accounting for income taxes. The Company adopted this ASU as of January 1, 2021 on a prospective basis, and the adoption did not have a material impact on the Company’s Condensed Consolidated Financial Statements. January 1, 2021

Recently Issued Accounting Pr_3

Recently Issued Accounting Pronouncements (Tables)	6 Months Ended
	Jul. 02, 2021
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Accounting Guidance Implemented in 2021 Standard Description Effective Date ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans The ASU modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The adoption of this ASU did not have a material impact on the Company’s Condensed Consolidated Financial Statements. January 1, 2021 ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The ASU eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of accounting for income taxes. The Company adopted this ASU as of January 1, 2021 on a prospective basis, and the adoption did not have a material impact on the Company’s Condensed Consolidated Financial Statements. January 1, 2021

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jul. 02, 2021
Revenue [Abstract]
Schedule of Revenue by Major Customers by Reporting Segments	The Company’s Fabrication Technology segment formulates, develops, manufactures and supplies consumable products and equipment. Substantially all revenue from the Fabrication Technology business is recognized at a point in time. The Company disaggregates its Fabrication Technology revenue into the following product groups: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands) Equipment $ 198,856 $ 129,033 $ 372,606 $ 285,833 Consumables 430,948 285,334 825,326 654,071 Total $ 629,804 $ 414,367 $ 1,197,932 $ 939,904 Contracts with customers in the consumables product grouping generally have a shorter fulfillment period than equipment contracts. The Company’s Medical Technology segment provides products and services spanning the orthopedic continuum of patient care, from injury prevention to rehabilitation. While the Company’s Medical Technology sales are primarily derived from three sales channels including dealers and distributors, insurance, and direct to consumers and hospitals, substantially all its revenue is recognized at a point in time. The Company disaggregates its Medical Technology revenue into the following product groups: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands) Prevention & Recovery (1) $ 269,968 $ 159,851 $ 505,206 $ 383,636 Reconstructive 86,156 46,142 162,001 113,176 Total $ 356,124 $ 205,993 $ 667,207 $ 496,812 (1) For the periods presented, the Prevention & Recovery product group includes bone growth stimulation products, which were previously classified as part of the Reconstructive product group.
Financing Receivable, Allowance for Credit Loss	A summary of the activity in the Company’s allowance for credit losses included within Trade receivables in the Condensed Consolidated Balance Sheets is as follows: Six Months Ended July 2, 2021 Balance at Charged to Expense, net Write-Offs and Deductions Foreign Balance at (In thousands) Allowance for credit losses $ 37,666 $ 579 $ (3,440) $ (594) $ 34,211

Net Income (Loss) Per Share f_2

Net Income (Loss) Per Share from Continuing Operations (Tables)	6 Months Ended
	Jul. 02, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share - Basic and Diluted	Net income per share from continuing operations was computed as follows: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands, except share and per share data) Computation of Net income (loss) per share from continuing operations - basic: Net income (loss) from continuing operations attributable to Colfax Corporation (1) $ 30,259 $ (3,569) $ 56,823 $ 4,272 Weighted-average shares of Common stock outstanding – basic 153,875,957 136,756,449 146,708,649 136,677,521 Net income (loss) per share from continuing operations – basic $ 0.20 $ (0.03) $ 0.39 $ 0.03 Computation of Net income (loss) per share from continuing operations - diluted: Net income (loss) from continuing operations attributable to Colfax Corporation (1) $ 30,259 $ (3,569) $ 56,823 $ 4,272 Weighted-average shares of Common stock outstanding – basic 153,875,957 136,756,449 146,708,649 136,677,521 Net effect of potentially dilutive securities - stock options, restricted stock units and tangible equity units 1,987,368 — 2,077,643 2,880,841 Weighted-average shares of Common stock outstanding – diluted 155,863,325 136,756,449 148,786,292 139,558,362 Net income (loss) per share from continuing operations – diluted $ 0.19 $ (0.03) $ 0.38 $ 0.03 (1) Net income (loss) from continuing operations attributable to Colfax Corporation for the respective periods is calculated using Net income (loss) from continuing operations less the income attributable to noncontrolling interest, net of taxes, of $1.1 million and $2.2 million for the three and six months ended July 2, 2021, respectively, and $0.4 million and $1.5 million for the three and six months ended July 3, 2020, respectively.

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jul. 02, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	The following tables present the changes in the balances of each component of Accumulated other comprehensive loss including reclassifications out of Accumulated other comprehensive loss for the six months ended July 2, 2021 and July 3, 2020. All amounts are net of tax and noncontrolling interest, if any. Accumulated Other Comprehensive Loss Components Net Unrecognized Pension and Other Post-Retirement Benefit Cost Foreign Currency Translation Adjustment Unrealized Gain on Hedging Activities Total (In thousands) Balance at January 1, 2021 $ (112,783) $ (360,977) $ 21,654 $ (452,106) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 583 (71,276) (2,076) (72,769) Gain on long-term intra-entity foreign currency transactions — 29,925 — 29,925 Gain on net investment hedges — — 10,231 10,231 Other comprehensive income (loss) before reclassifications 583 (41,351) 8,155 (32,613) Amounts reclassified from Accumulated other comprehensive loss 2,100 — — 2,100 Net Other comprehensive income (loss) 2,683 (41,351) 8,155 (30,513) Balance at July 2, 2021 $ (110,100) $ (402,328) $ 29,809 $ (482,619) Accumulated Other Comprehensive Loss Components Net Unrecognized Pension and Other Post-Retirement Benefit Cost Foreign Currency Translation Adjustment Unrealized Gain on Hedging Activities Total (In thousands) Balance at January 1, 2020 $ (106,500) $ (421,889) $ 44,544 $ (483,845) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 554 (68,494) (1,276) (69,216) Loss on long-term intra-entity foreign currency transactions — (31,841) — (31,841) Gain on net investment hedges — — 1,756 1,756 Other comprehensive income (loss) before reclassifications 554 (100,335) 480 (99,301) Amounts reclassified from Accumulated other comprehensive loss 1,662 — — 1,662 Net Other comprehensive income (loss) 2,216 (100,335) 480 (97,639) Balance at July 3, 2020 $ (104,284) $ (522,224) $ 45,024 $ (581,484)
Tangible Equity Units	A portion of the proceeds from the issuance of the TEUs were allocated initially to equity (the “TEU prepaid stock purchase contract”) and debt (the “TEU amortizing notes”) based on the relative fair value of the respective components of each TEU. See Note 10, “Debt ” for further information regarding the TEU amortizing notes.

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Jul. 02, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories, net consisted of the following: July 2, 2021 December 31, 2020 (In thousands) Raw materials $ 133,447 $ 110,848 Work in process 46,800 40,517 Finished goods 541,800 476,297 722,047 627,662 Less: allowance for excess, slow-moving and obsolete inventory (58,507) (62,840) Inventories, net $ 663,540 $ 564,822

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 02, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt consisted of the following: July 2, 2021 December 31, 2020 (In thousands) Term loan $ 781,976 $ 781,557 Euro senior notes 411,659 425,045 2024 and 2026 notes 297,668 991,319 TEU amortizing notes 19,120 31,251 Revolving credit facilities and other 86,574 2,071 Total debt 1,596,997 2,231,243 Less: current portion (20,480) (27,074) Long-term debt $ 1,576,517 $ 2,204,169

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jul. 02, 2021
Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following: July 2, 2021 December 31, 2020 (In thousands) Accrued compensation and related benefits $ 108,835 $ 98,455 Accrued taxes 38,152 57,286 Accrued asbestos-related liability 45,640 41,626 Warranty liability - current portion 17,203 15,543 Accrued restructuring liability - current portion 6,005 7,889 Accrued third-party commissions 29,574 25,480 Customer advances and billings in excess of costs incurred 33,463 36,737 Lease liability - current portion 36,236 39,695 Accrued interest 10,230 27,153 Other 99,885 104,469 Accrued liabilities $ 425,223 $ 454,333
Schedule of Product Warranty Liability	The activity in the Company’s warranty liability consisted of the following: Six Months Ended July 2, 2021 July 3, 2020 (In thousands) Warranty liability, beginning of period $ 15,543 $ 15,528 Accrued warranty expense 5,085 3,256 Changes in estimates related to pre-existing warranties 1,062 528 Cost of warranty service work performed (4,699) (4,547) Acquisition-related liability 321 — Foreign exchange translation effect (109) (453) Warranty liability, end of period $ 17,203 $ 14,312
Schedule of Restructuring Reserve by Type of Cost	A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Condensed Consolidated Balance Sheets is as follows: Six Months Ended July 2, 2021 Balance at Beginning of Period Provisions Payments Foreign Currency Translation Balance at End of Period (3) (In thousands) Restructuring and other related charges: Fabrication Technology: Termination benefits (1) $ 5,336 $ 2,551 $ (3,502) $ (19) $ 4,366 Facility closure costs (2) 591 2,905 (3,264) (16) 216 5,927 5,456 (6,766) (35) 4,582 Non-cash charges (2) 1,108 6,564 Medical Technology: Termination benefits (1) 1,884 1,014 (1,496) (8) 1,394 Facility closure costs and other (2) 297 1,948 (1,948) — 297 2,181 2,962 (3,444) (8) 1,691 Non-cash charges (2) — 2,962 Total Colfax Corporation: Total restructuring liability activity $ 8,108 8,418 $ (10,210) $ (43) $ 6,273 Total Non-cash charges 1,108 $ 9,526 (1) Includes severance and other termination benefits, including outplacement services. (2) Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities. (3) As of July 2, 2021, $6.0 million of the Company’s restructuring liability was included in Accrued liabilities, whereas less than $0.3 million of the Company’s restructuring liability was included in Other liabilities.

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended	6 Months Ended
	Jul. 02, 2021	Jul. 02, 2021
Financial Instruments and Fair Value Measurements [Abstract]
Company's assets and liabilities measured at fair value for each fair value hierarchy level		A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows: July 2, 2021 Level Level Level Total (In thousands) Assets: Cash equivalents $ 6,787 $ — $ — $ 6,787 Foreign currency contracts - not designated as hedges — 1,788 — 1,788 Deferred compensation plans — 12,445 — 12,445 $ 6,787 $ 14,233 $ — $ 21,020 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 4,065 $ — $ 4,065 Deferred compensation plans — 12,445 — 12,445 $ — $ 16,510 $ — $ 16,510 December 31, 2020 Level Level Level Total (In thousands) Assets: Cash equivalents $ 7,420 $ — $ — $ 7,420 Foreign currency contracts - not designated as hedges — 2,194 — 2,194 Deferred compensation plans — 10,881 — 10,881 $ 7,420 $ 13,075 $ — $ 20,495 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 1,781 $ — $ 1,781 Deferred compensation plans — 10,881 — 10,881 $ — $ 12,662 $ — $ 12,662
Schedule of Derivative Instruments, Gain (Loss) in Condensed Consolidated Financial Statements		The Company recognized the following in its Condensed Consolidated Financial Statements related to its derivative instruments: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands) Contracts Designated as Hedges: Unrealized gain (loss) on net investment hedges (1) $ (2,150) $ (10,424) $ 10,231 $ 1,756 Contracts Not Designated in a Hedge Relationship: Foreign Currency Contracts Unrealized gain (loss) (2,278) (44) (4,889) 2,373 Realized gain (loss) 1,368 (957) 1,419 (1,154) (1)
Schedule of Cash and Cash Equivalents	The following table summarizes the Company’s Cash and cash equivalents and Restricted cash: July 2, 2021 December 31, 2020 (In thousands) Cash and cash equivalents $ 62,309 $ 97,068 Restricted cash — 4,001 Cash and cash equivalents and Restricted cash $ 62,309 $ 101,069

Commitments and Contingencies_2

Commitments and Contingencies (Tables)	6 Months Ended
	Jul. 02, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule Of Loss Contingencies By Claims Quantities	Asbestos-related claims activity since December 31 is as follows: Six Months Ended July 2, 2021 July 3, 2020 (Number of claims) Claims unresolved, beginning of period 14,809 16,299 Claims filed (1) 2,178 1,869 Claims resolved (2) (1,607) (1,310) Claims unresolved, end of period 15,380 16,858 (1) Claims filed include all asbestos claims for which notification has been received or a file has been opened. (2) Claims resolved include all asbestos claims that have been settled, dismissed or that are in the process of being settled or dismissed based upon agreements or understandings in place with counsel for the claimants.
Schedule Of Asbestos Related Litigation	The Company’s Condensed Consolidated Balance Sheets included the following amounts related to asbestos-related litigation: July 2, 2021 December 31, 2020 (In thousands) Long-term asbestos insurance asset (1) $ 230,160 $ 232,712 Long-term asbestos insurance receivable (1) 23,591 31,815 Accrued asbestos liability (2) 45,640 41,626 Long-term asbestos liability (3) 245,591 253,144 (1) Included in Other assets in the Condensed Consolidated Balance Sheets. (2) Represents current accruals for probable and reasonably estimable asbestos-related liability costs that the Company believes the subsidiaries will pay, and unpaid legal costs related to defending themselves against asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Condensed Consolidated Balance Sheets. (3) Included in Other liabilities in the Condensed Consolidated Balance Sheets.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jul. 02, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The Company’s segment results were as follows: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands) Net sales: Fabrication Technology $ 629,804 $ 414,367 $ 1,197,932 $ 939,904 Medical Technology 356,124 205,993 667,207 496,812 $ 985,928 $ 620,360 $ 1,865,139 $ 1,436,716 Segment operating income (loss) (1) : Fabrication Technology $ 94,397 $ 43,609 $ 176,702 $ 112,645 Medical Technology 18,247 (20,796) 20,409 (16,992) Corporate and other (29,304) (15,573) (46,665) (29,651) $ 83,340 $ 7,240 $ 150,446 $ 66,002 (1) Following is a reconciliation of Income (loss) from continuing operations before income taxes to segment operating income: Three Months Ended Six Months Ended July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 (In thousands) Income (loss) from continuing operations before income taxes $ 39,474 $ (33,205) $ 75,121 $ (11,164) Pension settlement gain (11,208) — (11,208) — Interest expense, net 17,805 28,284 43,465 53,080 Debt extinguishment charges 29,870 — 29,870 — Restructuring and other related charges (1) 5,480 11,161 9,526 22,186 MDR and other costs (2) 1,919 1,000 3,672 1,900 Segment operating income $ 83,340 $ 7,240 $ 150,446 $ 66,002 (1) Restructuring and other related charges includes $0.9 million and $2.7 million of expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and six months ended July 3, 2020, respectively. (2) Primarily related to costs specific to compliance with medical device reporting regulations and other requirements of the European Union MDR. These costs are classified as Selling, general and administrative expense on the Company’s Condensed Consolidated Statements of Operations for all periods presented.

General (Details)

General (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Research and development expense	$ 21,300	$ 14,100	$ 41,200	$ 32,600
Debt call premium on retired debt	(24,400)		(24,400)
Loss on extinguishment of debt	29,870	0	29,870	0
Pension settlement gain	$ (11,208)	$ 0	$ (11,208)	$ 0

Discontinued Operations - Narra

Discontinued Operations - Narratives (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Asbestos related costs, net of tax	$ 1.6	$ 1.4	$ 2.5	$ 2.8
Cash used in operating activities, discontinued operations	4.6	7.9
Air and Gas Handling Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of discontinued operation	$ 0.1	$ 3.5	$ (6.6)	$ 5.5

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Thousands	Jul. 28, 2021USD ($)	Jul. 02, 2021USD ($)acquisition	Jul. 02, 2021USD ($)acquisitioninvestment	Jul. 03, 2020USD ($)
Business Acquisition [Line Items]
Acquisition, net of cash received			$ 230,650	$ 7,548
Number of investments in medical technology business | investment			2
Intangible assets acquired, percentages of consideration		47.00%	47.00%
Acquisition, proforma revenue, percentage of company consolidated revenue		1.00%
Medical Technology Businesses
Business Acquisition [Line Items]
Investments in medical technology businesses		$ 14,800
Q1 2021 Acquisitions
Business Acquisition [Line Items]
Acquisition, net of cash received		$ 215,900
Trilliant Surgical
Business Acquisition [Line Items]
Number of acquisitions | acquisition		2
Cash consideration		$ 205,400
Net working capital acquired, percent of consideration		9.00%	9.00%
Mathys AG Bettlach | Subsequent event
Business Acquisition [Line Items]
Cash consideration	$ 285,000
Fabrication Technology
Business Acquisition [Line Items]
Number of acquisitions | acquisition			1
Medical Technology
Business Acquisition [Line Items]
Number of acquisitions | acquisition			3

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Revenue from contract with customer	$ 985,928	$ 620,360	$ 1,865,139	$ 1,436,716
Fabrication Technology
Revenue from contract with customer	629,804	414,367	1,197,932	939,904
Medical Technology
Revenue from contract with customer	356,124	205,993	667,207	496,812
Equipment | Fabrication Technology
Revenue from contract with customer	198,856	129,033	372,606	285,833
Consumables | Fabrication Technology
Revenue from contract with customer	430,948	285,334	825,326	654,071
Prevention & Recovery | Medical Technology
Revenue from contract with customer	269,968	159,851	505,206	383,636
Reconstructive | Medical Technology
Revenue from contract with customer	$ 86,156	$ 46,142	$ 162,001	$ 113,176

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021USD ($)salesChannel	Jul. 03, 2020USD ($)	Jul. 02, 2021USD ($)salesChannel	Jul. 03, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Revenue [Abstract]
Number of sales channels | salesChannel	3		3
Contract liability	$ 33.5	$ 33.1	$ 33.5	$ 33.1	$ 36.6	$ 14.8
Revenue recognized, contract liability	5.1	$ 3.8	19.4	$ 8.7
Contract liability, one time advance payments	$ 9.9		$ 9.9		$ 11.8

Revenue - Allowance for Credit

Revenue - Allowance for Credit Loss Rollforward (Details) $ in Thousands	6 Months Ended
	Jul. 02, 2021USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 37,666
Charged to Expense, net	579
Write-Offs and Deductions	(3,440)
Foreign Currency Translation	(594)
Balance at End of Period	$ 34,211

Net Income (Loss) Per Share f_3

Net Income (Loss) Per Share from Continuing Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Earnings Per Share [Abstract]
Net Income (loss) from continuing operations attributable to Parent	$ 30,259	$ (3,569)	$ 56,823	$ 4,272
Weighted-average shares of Common stock outstanding - basic (in shares)	153,875,957	136,756,449	146,708,649	136,677,521
Net income (loss) per share, continuing operations, basic (in usd per share)	$ 0.20	$ (0.03)	$ 0.39	$ 0.03
Net effect of potentially dilutive securities - stock options, restricted stock units and tangible equity units	1,987,368	0	2,077,643	2,880,841
Weighted-average shares of Common stock outstanding - diluted (in shares)	155,863,325	136,756,449	148,786,292	139,558,362
Continuing operations, (in usd per share)	$ 0.19	$ (0.03)	$ 0.38	$ 0.03
Net income from continuing operations, tax	$ 1,100	$ 400	$ 2,200	$ 1,500

Net Income (Loss) Per Share f_4

Net Income (Loss) Per Share from Continuing Operations - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Earnings Per Share, Basic
Weighted average shares outstanding, tangible equity units, diluted (in shares)				1.9
Antidilutive securities excluded from computation of earnings per share	1.6	4.9	1.3	4.2
Tangible Equity Unit
Earnings Per Share, Basic
Weighted average shares outstanding, tangible equity units, basic (in shares)	18.4	18.4	18.4	18.4

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Income Tax Disclosure [Abstract]
Income (loss) from continuing operations before income taxes	$ (39,474)	$ 33,205	$ (75,121)	$ 11,164
Income tax expense (benefit)	$ 8,155	$ (30,063)	$ 16,072	$ (16,890)
Effective tax rate	20.70%	90.50%	21.40%	151.30%
Tax benefit associated with changes to US Federal tax return, election to credit rather than deduction foreign taxes		$ 6,800

Equity Textual (Details)

Equity Textual (Details)	Mar. 19, 2021USD ($)$ / sharesshares	Jan. 11, 2019USD ($)$ / shares	Jul. 02, 2021USD ($)$ / sharesshares	Apr. 02, 2021shares	Jul. 02, 2021USD ($)$ / sharesshares
Stock Repurchase Program, Authorized Amount | $			$ 100,000,000		$ 100,000,000
Tangible Equity Units Issued, Amount | $		$ 4,600,000
Tangible Equity Units Issued, Par Value | $ / shares		$ 100
Tangible Equity Units Issued, Cash Proceeds | $		$ 447,700,000
Tangible Equity Unit, Threshold Appreciation Price | $ / shares			$ 25		$ 25
Tangible Equity Unit, Reference Price | $ / shares			$ 20.81		$ 20.81
Stock Purchase Contracts Converted			1,500,000		1,600,000
Common Stock
Conversion of tangible equity units into common stock			6,174,000	344,412	6,500,000
Underwritten Public Offering
Sale of Stock, Number of Shares Issued in Transaction	16,100,000
Sale of Stock, Price Per Share | $ / shares	$ 46
Sale of Stock, Consideration Received on Transaction | $	$ 711,300,000
Minimum
Shares Issued per Purchase Contract			4		4
Tangible Equity Units, Threshold For Conversion			18,400,000		18,400,000
Maximum
Shares Issued per Purchase Contract			4.8054		4.8054
Tangible Equity Units, Threshold For Conversion			22,100,000		22,100,000

Equity - AOCI Components (Detai

Equity - AOCI Components (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ (452,106)
Foreign currency translation adjustment	(72,769)	$ (69,216)
Loss on long-term intra-entity foreign currency transactions	29,925	(31,841)
Gain on net investment hedges	10,231	1,756
Other comprehensive income (loss) before reclassifications	(32,613)	(99,301)
Amounts reclassified from Accumulated other comprehensive loss	2,100	1,662
Net current period other comprehensive income (loss)	(30,513)	(97,639)
Ending Balance	(482,619)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(452,106)	(483,845)
Ending Balance	(482,619)	(581,484)
Net Unrecognized Pension and Other Post-Retirement Benefit Cost
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(112,783)	(106,500)
Foreign currency translation adjustment	583	554
Loss on long-term intra-entity foreign currency transactions	0	0
Gain on net investment hedges	0	0
Other comprehensive income (loss) before reclassifications	583	554
Amounts reclassified from Accumulated other comprehensive loss	2,100	1,662
Net current period other comprehensive income (loss)	2,683	2,216
Ending Balance	(110,100)	(104,284)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(360,977)	(421,889)
Foreign currency translation adjustment	(71,276)	(68,494)
Loss on long-term intra-entity foreign currency transactions	29,925	(31,841)
Gain on net investment hedges	0	0
Other comprehensive income (loss) before reclassifications	(41,351)	(100,335)
Amounts reclassified from Accumulated other comprehensive loss	0	0
Net current period other comprehensive income (loss)	(41,351)	(100,335)
Ending Balance	(402,328)	(522,224)
Unrealized Gain on Hedging Activities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	21,654	44,544
Foreign currency translation adjustment	(2,076)	(1,276)
Loss on long-term intra-entity foreign currency transactions	0	0
Gain on net investment hedges	10,231	1,756
Other comprehensive income (loss) before reclassifications	8,155	480
Amounts reclassified from Accumulated other comprehensive loss	0	0
Net current period other comprehensive income (loss)	8,155	480
Ending Balance	$ 29,809	$ 45,024

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 133,447	$ 110,848
Work in process	46,800	40,517
Finished goods	541,800	476,297
Inventory, gross	722,047	627,662
Less: allowance for excess, slow-moving and obsolete inventory	(58,507)	(62,840)
Inventories, net	$ 663,540	$ 564,822

Debt - Components (Details)

Debt - Components (Details) - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total Debt	$ 1,596,997	$ 2,231,243
Less: current portion	(20,480)	(27,074)
Long-term debt	1,576,517	2,204,169
Term loan
Debt Instrument [Line Items]
Total Debt	781,976	781,557
Euro senior notes
Debt Instrument [Line Items]
Total Debt	411,659	425,045
2024 and 2026 notes
Debt Instrument [Line Items]
Total Debt	297,668	991,319
TEU amortizing notes
Debt Instrument [Line Items]
Total Debt	19,120	31,251
Revolving credit facilities and other
Debt Instrument [Line Items]
Total Debt	$ 86,574	$ 2,071

Debt -Textual (Details)

Debt -Textual (Details) $ / shares in Units, € in Millions	Apr. 24, 2021USD ($)	Dec. 17, 2018USD ($)	Apr. 19, 2017EUR (€)	Jul. 02, 2021USD ($)$ / shares	Jul. 03, 2020USD ($)	Jul. 02, 2021USD ($)$ / shares	Jul. 03, 2020USD ($)	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	May 01, 2020	Feb. 05, 2019USD ($)
Long-term Debt, Weighted Average Interest Rate				1.84%		1.84%
Line of Credit Facility, Remaining Borrowing Capacity				$ 890,000,000		$ 890,000,000
Tangible Equity Unit, Initial Principal Amount | $ / shares				$ 15.6099		$ 15.6099
Tangible Equity Units Issued, State Rate Of Return				6.50%		6.50%
Tangible Equity Unit, Quarterly Cash Distribution | $ / shares				$ 1.4375		$ 1.4375
Tangible Equity Unit, Repayment				$ 12,300,000			$ 11,500,000
Debt instrument, interest rate, stated percentage															6.00%
Repayments of Senior Debt						$ 700,000,000	0
Redemption price, percentage	106.375%
Loss on extinguishment of debt				29,870,000	$ 0	29,870,000	$ 0
Debt call premium on retired debt				24,400,000		24,400,000
Letter of Credit Subfacility, Maximum Borrowing Capacity				339,800,000		339,800,000
Letters of credit, outstanding				70,100,000		70,100,000
Debt deferred financing fees				14,400,000		14,400,000
2024 Senior Notes
Principal amount															$ 600,000,000
Notes redeemed	$ 600,000,000
Redemption price, percentage	103.00%
2026 Notes
Principal amount															$ 400,000,000
Debt instrument, interest rate, stated percentage															6.375%
2024 and 2026 Senior Notes
Repayments of Senior Debt	$ 724,400,000
2024 Notes
Redeemed principal	$ 100,000,000
Term A1 Loan
Principal amount				$ 825,000,000		$ 825,000,000
Senior Notes
Proceeds from borrowings on senior unsecured notes | €			€ 350
Euro Bond Coupon Rate				3.25%		3.25%
Bilateral agreements
Credit facility				$ 192,600,000		$ 192,600,000
New Revolving Credit Facility | DJO Global Inc Financing Facilities
Line of Credit Sub Facility Maximum Borrowing Capacity Available for Specific Future Transaction		$ 50,000,000
Revolving Credit Facility | New Revolving Credit Facility | DJO Global Inc Financing Facilities
Credit facility				$ 975,000,000		$ 975,000,000
Amended Credit Facility
Debt instrument covenant maximum total leverage ratio												5.25
Debt instrument covenant minimum interest coverage ratio													2.75
Debt instrument, gross leverage ratio														5
Scenario, Forecast | Amended Credit Facility
Debt instrument covenant maximum total leverage ratio								3.50	4	4.25	4.50
Debt instrument covenant minimum interest coverage ratio											3

Accrued Liabilities - Chart (De

Accrued Liabilities - Chart (Details) - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Accrued Liabilities [Abstract]
Accrued payroll	$ 108,835	$ 98,455
Accrued taxes	38,152	57,286
Accrued asbestos-related liability	45,640	41,626
Warranty liability - current portion	17,203	15,543
Accrued restructuring liability - current portion	6,005	7,889
Accrued third-party commissions	29,574	25,480
Customer advances and billing in excess of costs incurred	33,463	36,737
Operating Lease, Liability, Current	36,236	39,695
Accrued interest	10,230	27,153
Other	99,885	104,469
Accrued liabilities	$ 425,223	$ 454,333

Accrued Liabilities - Warranty

Accrued Liabilities - Warranty Liability Rollforward (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liability, beginning of period	$ 15,543	$ 15,528
Accrued warranty expense	5,085	3,256
Changes in estimates related to pre-existing warranties	1,062	528
Cost of warranty service work performed	(4,699)	(4,547)
Acquisition-related liability	321	0
Foreign exchange translation effect	(109)	(453)
Warranty liability, end of period	$ 17,203	$ 14,312

Accrued Liabilities -Restructur

Accrued Liabilities -Restructuring Rollforward (Details) $ in Thousands	6 Months Ended
	Jul. 02, 2021USD ($)
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	$ 8,108
Provisions before non-cash charges	8,418
Non cash impairment restructuring provisions	1,108
Restructuring, Settlement and Impairment Provisions	9,526
Payments	(10,210)
Foreign Currency Translation	(43)
Balance at End of Period	6,273
Fabrication Technology
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	5,927
Provisions before non-cash charges	5,456
Non cash impairment restructuring provisions	1,108
Restructuring, Settlement and Impairment Provisions	6,564
Payments	(6,766)
Foreign Currency Translation	(35)
Balance at End of Period	4,582
Medical Technology
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	2,181
Provisions before non-cash charges	2,962
Restructuring, Settlement and Impairment Provisions	2,962
Payments	(3,444)
Foreign Currency Translation	(8)
Balance at End of Period	1,691
Termination benefits | Fabrication Technology
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	5,336
Provisions before non-cash charges	2,551
Payments	(3,502)
Foreign Currency Translation	(19)
Balance at End of Period	4,366
Termination benefits | Medical Technology
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	1,884
Provisions before non-cash charges	1,014
Payments	(1,496)
Foreign Currency Translation	(8)
Balance at End of Period	1,394
Facility closure costs | Fabrication Technology
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	591
Provisions before non-cash charges	2,905
Payments	(3,264)
Foreign Currency Translation	(16)
Balance at End of Period	216
Facility closure costs | Medical Technology
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	297
Provisions before non-cash charges	1,948
Payments	(1,948)
Foreign Currency Translation	0
Balance at End of Period	$ 297

Accrued Liabilities - Textual (

Accrued Liabilities - Textual (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges and Other Related Charges	$ 5,480	$ 11,161	$ 9,526	$ 22,186
Accrued restructuring liability - current portion	6,005		6,005		$ 7,889
Accrued Liabilities
Restructuring Cost and Reserve [Line Items]
Accrued restructuring liability - current portion	6,000		6,000
Other Noncurrent Liabilities
Restructuring Cost and Reserve [Line Items]
Accrued restructuring liability - current portion	$ 300		$ 300
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges and Other Related Charges		$ 900		$ 2,700

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements (Details) - USD ($) $ in Millions	Jul. 02, 2021	Dec. 31, 2020
Financial Instruments and Fair Value Measurements [Abstract]
Long-term Debt, Fair Value	$ 1,600	$ 2,300

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements- Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Jul. 02, 2021	Jul. 03, 2020
Cash equivalents	$ 6,787	$ 7,420
Deferred compensation plans asset	12,445	10,881
Assets, Fair Value Disclosure	21,020	20,495
Deferred compensation plans liability	12,445	10,881
Liabilities, Fair Value Disclosure	16,510	12,662
Level One
Cash equivalents	6,787	7,420
Assets, Fair Value Disclosure	6,787	7,420
Level Two
Deferred compensation plans asset	12,445	10,881
Assets, Fair Value Disclosure	14,233	13,075
Deferred compensation plans liability	12,445	10,881
Liabilities, Fair Value Disclosure	16,510	12,662
Foreign currency contracts related to customer sales contracts
Foreign currency contracts not designated as hedges, Assets	1,788	2,194
Foreign currency contracts not designated as hedges, Liability	4,065	1,781
Foreign currency contracts related to customer sales contracts | Level Two
Foreign currency contracts not designated as hedges, Assets	1,788	2,194
Foreign currency contracts not designated as hedges, Liability	$ 4,065	$ 1,781

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Notional Values (Details) - USD ($) $ in Millions	Jul. 02, 2021	Dec. 31, 2020
Financial Instruments and Fair Value Measurements [Abstract]
Derivative Asset, Notional Amount	$ 322.1	$ 250.4

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements - Gain (Loss) On Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Unrealized (loss) gain on net investment hedges			$ 10,231	$ 1,756
Designated As Hedging Instrument
Unrealized (loss) gain on net investment hedges	$ (2,150)	$ (10,424)	10,231	1,756
Not Designated As Hedging Instrument | Foreign currency contracts related to customer sales contracts
Unrealized gain (loss)	(2,278)	(44)	(4,889)	2,373
Realized gain (loss)	$ 1,368	$ (957)	$ 1,419	$ (1,154)

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020	Jul. 03, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Cash and cash equivalents	$ 62,309	$ 97,068
Restricted Cash	0	4,001
Cash and cash equivalents and Restricted cash	$ 62,309	$ 101,069	$ 66,396	$ 109,632

Claims Rollforward (Details)

Claims Rollforward (Details)	6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020
Loss Contingency Accrual [Roll Forward]
Claims unresolved, beginning of period	14,809	16,299
Claims filed	2,178	1,869
Claims resolved	(1,607)	(1,310)
Claims unresolved, end of period	15,380	16,858

Asbestos Litigation (Details 1)

Asbestos Litigation (Details 1) - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Long-term asbestos insurance asset	$ 230,160	$ 232,712
Long-term asbestos insurance receivable	23,591	31,815
Accrued asbestos liability	45,640	41,626
Long-term asbestos liability	$ 245,591	$ 253,144

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021USD ($)	Jul. 03, 2020USD ($)	Jul. 02, 2021USD ($)segment	Jul. 03, 2020USD ($)
Number of Operating Segments | segment			2
Revenues	$ 985,928	$ 620,360	$ 1,865,139	$ 1,436,716
Segment operating income	83,340	7,240	150,446	66,002
Income (loss) from continuing operations before income taxes	39,474	(33,205)	75,121	(11,164)
Interest expense	17,805	28,284	43,465	53,080
Restructuring and other related charges	5,480	11,161	9,526	22,186
MDR and other costs	1,919	1,000	3,672	1,900
Cost of Sales
Restructuring and other related charges		900		2,700
Fabrication Technology
Revenues	629,804	414,367	1,197,932	939,904
Segment operating income	94,397	43,609	176,702	112,645
Medical Technology
Revenues	356,124	205,993	667,207	496,812
Segment operating income	18,247	(20,796)	20,409	(16,992)
Corporate and other
Segment operating income	$ (29,304)	$ (15,573)	$ (46,665)	$ (29,651)