ZimVie (ZIMV) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001876588
Entity File Number	001-41242
Entity Registrant Name	ZIMVIE INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-2007795
Entity Address, Address Line One	10225 Westmoor Drive
Entity Address, City or Town	Westminster
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80021
City Area Code	303
Local Phone Number	443-7500
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ZIMV
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,080,012

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Sales
Total Net Sales	$ 235,601	$ 247,731
Cost of products sold, excluding intangible asset amortization	(85,010)	(80,091)
Related party cost of products sold, excluding intangible asset amortization	(797)	(1,211)
Intangible asset amortization	(20,905)	(21,883)
Research and development	(17,653)	(13,429)
Selling, general and administrative	(134,112)	(129,085)
Restructuring	(742)	(482)
Acquisition, integration, divestiture and related	(9,005)	(1,225)
Operating Expenses	(268,224)	(247,406)
Operating (Loss) Income	(32,623)	325
Other income (expense), net	255	(362)
Interest expense, net	(711)	(153)
Loss Before income taxes	(33,079)	(190)
Income tax benefit	7,423	617
Net (Loss) Income	$ (25,656)	$ 427
(Loss) Income Per Common Share - Basic	$ (0.98)	$ 0.02
(Loss) Income Per Common Share - Diluted	$ (0.98)	$ 0.02
Third Party Net [Member]
Net Sales
Total Net Sales	$ 234,682	$ 245,940
Related Party Net [Member]
Net Sales
Total Net Sales	$ 919	$ 1,791

Condensed Consolidated Statem_2

Condensed Consolidated Statements Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (Loss) Income	$ (25,656)	$ 427
Foreign currency cumulative translation adjustments, net of tax	(14,666)	(26,328)
Total Other Comprehensive Loss	(14,666)	(26,328)
Comprehensive Loss	$ (40,322)	$ (25,901)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 104,259	$ 100,399
Accounts receivable, net of allowance for credit losses of $14,001 and $16,545, respectively	156,151	164,241
Related party receivable	23,974	0
Inventories	239,281	246,832
Prepaid expenses and other current assets	25,446	25,380
Total Current Assets	549,111	536,852
Property, plant and equipment, net of accumulated depreciation of $394,986 and $418,191, respectively	170,537	180,243
Goodwill	263,015	267,810
Intangible assets, net	735,999	766,175
Other assets	55,603	75,656
Total Assets	1,774,265	1,826,736
Current Liabilities:
Accounts payable	39,108	45,026
Related party payables	26,261	0
Income taxes payable	17,067	6,278
Other current liabilities	123,088	133,280
Current portion of long-term debt	14,025	0
Total Current Liabilities	219,549	184,584
Deferred income taxes, net	147,030	129,475
Lease liability	41,589	45,317
Other long-term liabilities	11,743	15,983
Non-current portion of debt	541,898	0
Total Liabilities	961,809	375,359
Commitments and Contingencies (Note XX)
Stockholders' Equity:
Common stock, $0.01 par value, 150,000 shares authorized Shares, issued and outstanding, of 26,077 and 0, respectively	261	0
Preferred stock, $0.01 par value, 15,000 shares authorized, 0 shares issued and outstanding	0	0
Additional paid in capital	878,948	0
Accumulated deficit	(9,307)	0
Net parent company investment	0	1,494,157
Accumulated other comprehensive loss	(57,446)	(42,780)
Total Stockholders' Equity	812,456	1,451,377
Total Liabilities and Stockholders' Equity	$ 1,774,265	$ 1,826,736

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Stockholders' Equity Attributable to Parent [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 14,001	$ 16,545
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 394,986	$ 418,191
Common stock, shares par value	$ 0.01
Common Stock, Authorized	150,000	0
Common stock, shares issued	26,077	0
Common stock, shares outstanding	26,077	0
Preferred Stock, Par or Stated Value Per Share	$ 0.01
Preferred Stock, Shares Authorized	15,000	0
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid in Capital	Accumulated Deficit	Net Parent Company Investment	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2020	$ 1,490,555	$ 0	$ 0	$ 0	$ 1,485,978	$ 4,577
Net (loss) income	427	0	0	0	427	0
Net transactions with Zimmer Biomet Holdings Inc. including sepration adjustments	1,417	0	0	0	1,417	0
Other Comprehensive Loss	(26,328)	0	0	0	0	(26,328)
Ending Balance at Mar. 31, 2021	1,466,071	0	0	0	1,487,822	(21,751)
Beginning Balance at Dec. 31, 2021	1,451,377	0	0	0	1,494,157	(42,780)
Net (loss) income	(25,656)	0	0	(9,307)	(16,349)	0
Net transactions with Zimmer Biomet Holdings Inc. including sepration adjustments	(70,430)	0	0	0	(70,430)	0
Net considerations paid to Zimmer Biomet Holdings, Inc. in connection with distribution	(540,567)	0	0	0	(540,567)	0
Reclassification of net parent company investment to additional paid-in capital	0	261	866,550	0	(866,811)	0
Stock Activity Under Stock Plans	(32)	0	(32)	0	0	0
Share-based compensation expense	12,430	0	12,430	0	0	0
Other Comprehensive Loss	(14,666)	0	0	0	0	(14,666)
Ending Balance at Mar. 31, 2022	$ 812,456	$ 261	$ 878,948	$ (9,307)	$ 0	$ (57,446)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows (used in) provided by operating activities:
Net (loss) income	$ (25,656)	$ 427
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	32,554	32,972
Share-based compensation	13,472	1,425
Deferred income tax provision	(17,901)	(5,616)
Other non-cash items	122	(274)
Changes in operating assets and liabilities
Income taxes	11,258	256
Accounts receivable	(10,117)	7,497
Related party receivables	(24,214)	0
Inventories	8,726	4,965
Accounts payable and accrued liabilities	(8,639)	(25,136)
Related party payables	26,368	0
Other assets and liabilities	(15,872)	3,519
Net cash (used in) provided by operating activities	(9,899)	20,035
Cash flows used in investing activities:
Additions to instruments	(4,040)	(10,422)
Additions to other property, plant and equipment	(2,047)	(1,550)
Other investing activities	(2,000)	(2,200)
Net cash used in investing activities	(8,087)	(14,172)
Cash flows provided by (used in) financing activities:
Net transactions with Zimmer Biomet	6,920	70
Dividend paid to Zimmer Biomet	(540,567)	0
Proceeds from term loans	595,000	0
Payments on term loans	(34,000)	0
Debt issuance costs	(5,170)	0
Payments related to tax withholding for share-based compensation	(157)	0
Proceeds from stock option activity	125	0
Repayments of debt due to Zimmer Biomet	0	(7,274)
Net cash provided by (used in) financing activities	22,151	(7,344)
Effect of exchange rates on cash and cash equivalents	(305)	(778)
Increase (decrease) in cash and cash equivalents	3,860	(2,259)
Cash and cash equivalents, beginning of year	100,399	27,418
Cash and cash equivalents, end of period	$ 104,259	$ 25,159

Background, Nature of Business

Background, Nature of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background, Nature of Business and Basis of Presentation	1. Background, Nature of Business and Basis of Presentation Background On March 1, 2022, ZimVie Inc. ("ZimVie", "we," "us" and "our") and Zimmer Biomet Holdings, Inc. ("Zimmer Biomet") entered into a Separation and Distribution Agreement, pursuant to which Zimmer Biomet agreed to spin off its spine and dental businesses into ZimVie, a new, publicly traded company. Zimmer Biomet effected the separation through a pro rata distribution of 80.3 % of the outstanding shares of common stock of ZimVie. Following the distribution on March 1, 2022, Zimmer Biomet stockholders as of the record date for the distribution owned 80.3 % of the outstanding shares of ZimVie common stock; Zimmer Biomet retained 19.7 % of the outstanding shares of ZimVie common stock. The distribution is intended to qualify as generally tax-free to Zimmer Biomet stockholders for United States ("U.S.") federal income tax purposes, except for any cash received by stockholders in lieu of fractional shares. ZimVie is now a standalone publicly traded company and, on March 1, 2022, regular-way trading of our common stock commenced on the Nasdaq Stock Market under the symbol "ZIMV." The distribution was completed pursuant to the Separation and Distribution Agreement and other agreements with Zimmer Biomet related to the distribution, including, but not limited to a tax matters agreement, an employee matters agreement, a transition services agreement and transition manufacturing agreements. See Note 13 for further description of the impact of the distribution and ongoing activities with Zimmer Biomet. Nature of Business ZimVie is a leading medical technology company dedicated to enhancing the quality of life for spine and dental patients worldwide. We develop, manufacture and market a comprehensive portfolio of products and solutions designed to treat a wide range of spine pathologies and support dental tooth replacement and restoration procedures. Our broad portfolio addresses all areas of spine with market leadership in cervical disc replacement and vertebral body tethering to treat pediatric scoliosis, and we are well-positioned in the growing global dental implant and biomaterials market with market leadership in oral reconstruction. Our operations are principally managed on a products basis and include two operating segments, 1) the spine products segment, and 2) the dental products segment. In the spine products market, our core services include designing, manufacturing and distributing medical devices and surgical instruments to deliver comprehensive solutions for individuals with back or neck pain caused by degenerative conditions, deformities or traumatic injury of the spine. We also provide devices that promote bone healing. Other differentiated products in our spine portfolio include Mobi-C® Cervical Disc and The Tether™. In the dental products market, our core services include designing, manufacturing and distributing dental implant solutions. Dental reconstructive implants are for individuals who are totally without teeth or are missing one or more teeth, dental prosthetic products are aimed at providing a more natural restoration to resemble the original teeth, and dental regenerative products are for soft tissue and bone rehabilitation. Our key products include the T3® Implant, Tapered Screw-Vent Implant System, Trabecular Metal™ Dental Implant, BellaTek Encode Impression System, and Puros Allograft Particulate. Basis of Presentation We have historically existed and functioned as part of the consolidated business of Zimmer Biomet. The accompanying condensed consolidated financial statements are prepared on a standalone basis and, for periods prior to March 1, 2022, are derived from Zimmer Biomet’s consolidated financial statements and accounting records. On March 1, 2022, ZimVie became a standalone publicly traded company, and our financial statements are now presented on a consolidated basis. Prior to March 1, 2022, our historical condensed combined financial statements were prepared on a carve-out basis. The unaudited financial statements for all periods presented, including our historical results prior to March 1, 2022, are now referred to as "Condensed Consolidated Financial Statements," and have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain information and disclosures required by U.S. generally accepted accounting principles ("GAAP") for complete consolidated financial statements are not included herein. In our opinion, all adjustments necessary for a fair statement of these interim statements have been included and are of a normal and recurring nature. These interim statements should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021 ("Annual Report"). The results of operations of any interim period are not necessarily indicative of the results of operations for the full year. Prior to the distribution, our equity balance in these condensed consolidated financial statements represented the excess of total assets over liabilities including the due to/from balances between us and Zimmer Biomet (referred to as "net parent investment" or "NPI") and accumulated other comprehensive income (loss). NPI was primarily impacted by contributions from Zimmer Biomet which were the result of treasury activities and net funding provided by or distributed to Zimmer Biomet. Following the distribution, certain functions that Zimmer Biomet provided to us prior to the distribution either continue to be provided to us by Zimmer Biomet under a transition services agreement or are being performed using our own resources or third-party service providers. Additionally, under manufacturing and supply agreements, we manufacture certain products for Zimmer Biomet and Zimmer Biomet manufactures certain products for us. We have incurred, and expect to continue to incur, certain costs to establish ourselves as a standalone public company, as well as ongoing additional costs associated with operating as an independent, publicly traded company. Accounting Pronouncements Recently Issued There are no recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position, results of operations or cash flows.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring	2. Restructuring In December 2019 and December 2021, Zimmer Biomet initiated restructuring plans (the "Restructuring Plans") with an objective of reducing costs to allow further investment in higher priority growth opportunities. The restructuring charges incurred in the three months ended March 31, 2022 and 2021 primarily related to employee termination benefits, contract terminations and retention period compensation and benefits. The following table summarizes the liabilities directly attributable to us that were recognized under the Restructuring Plans (in thousands): Employee Other Total Balance, December 31, 2021 $ 1,099 $ 1,150 $ 2,249 Additions — 742 742 Cash payments ( 36.0 ) ( 742 ) ( 778 ) Balance, March 31, 2022 $ 1,063 $ 1,150 $ 2,213 Balance, December 31, 2020 $ 1,960 $ — $ 1,960 Additions 148 334 482 Cash payments ( 148 ) ( 334 ) ( 482 ) Balance, March 31, 2021 $ 1,960 $ — $ 1,960 We do not include restructuring charges in the operating profit of our reportable segments.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	3. Share-Based Compensation Conversion Awards Zimmer Biomet has share-based compensation plans under which it granted stock options, restricted stock units ("RSUs") and performance-based RSUs . In connection with the distribution, ZimVie employees with outstanding Zimmer Biomet stock-based awards received replacement stock-based awards. The ratio used to convert the Zimmer Biomet stock-based awards was designed to preserve the aggregate intrinsic value of the award immediately after the distribution when compared to the aggregate intrinsic value of the award immediately prior to the distribution. Outstanding RSUs and performance-based RSUs were converted into 0.3 million ZimVie RSUs at a weighted average fair value of $ 31.55 , and outstanding stock options were converted into 2.1 million ZimVie stock options at a weighted average fair value of $ 14.76 . Due to the conversion, ZimVie will incur $ 21.3 million of incremental share-based compensation expense. Of this amount, $ 10.3 million was related to previously-vested but unexercised stock option awards and was recognized at the distribution date. The remaining $ 11.0 million will be recognized over the option awards' remaining weighted average vesting period of 2.5 years, including $ 1.3 million that was recognized in March 2022. As of March 31, 2022, $ 9.7 million of incremental expense remained unrecognized. New Awards Effective March 1, 2022, ZimVie established the ZimVie Inc. 2022 Stock Incentive Plan (the " 2022 Plan"). A total of 3.0 million shares of common stock are authorized under the 2022 Plan. Shares to be issued pursuant to converted Zimmer Biomet stock-based awards do not count against this limit. At March 31, 2022, 2.2 million shares were available for future grants and awards under the 2022 Plan. The 2022 Plan provides for the grant of various types of awards including stock options, stock appreciation rights, performance shares, performance units, restricted stock or RSUs. Generally, awards have a three-year vesting period and stock options have a term of ten years . Vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met. We recognize expense on a straight-line basis over the requisite service period, less awards expected to be forfeited using estimated forfeiture rates. Stock options are granted with an exercise price equal to the market price of our common stock on the date of grant, except in limited circumstances where local law may dictate otherwise. For periods prior to the distribution, we specifically identified employees who were associated with our historical operations and calculated expense based upon the awards received under the Zimmer Biomet plans, as well as expense related to corporate or shared employees allocated to us on a proportional cost allocation method, primarily based on revenue. Share-based compensation expense was as follows (in thousands): For the Three Months Ended March 31, 2022 2021 Share-based compensation expense recognized in: Cost of products sold, excluding intangible asset amortization $ 1,797 $ 128 Research and development 2,078 229 Selling, general and administrative 9,597 1,068 13,472 1,425 Tax benefit related to awards ( 3,148 ) ( 334 ) Total expense, net of tax $ 10,324 $ 1,091 We use a Black-Scholes option-pricing model to determine the fair value of our stock options. For new awards granted after the distribution: expected volatility of 52.29 % was derived from a peer group's combined historical volatility that was de-levered and re-levered for ZimVie as ZimVie does not have sufficient historical volatility based on the expected term of the underlying options; the expected term of the stock options of 6.0 years was determined using the simplified method; and the risk-free interest rate of 1.94 % was determined using the implied yield currently available for zero-coupon U.S. government issues with a remaining term approximating the expected life of the options. The dividend yield was zero as ZimVie has no plans to pay a dividend for the foreseeable future. Stock option activity was as follows: Period Ended March 31, 2022 Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Stock Options Price Life (Years) Value (in Millions) Outstanding at March 1, 2022 2,125,548 $ 27.32 Granted 360,989 24.02 Exercised ( 8,772 ) 14.22 Forfeited ( 3,991 ) 28.83 Outstanding at March 31, 2022 2,473,774 $ 26.88 7.6 $ 0.7 Exercisable at March 31, 2022 1,275,892 $ 25.20 6.3 $ 0.7 At March 31, 2022, we had unrecognized share-based compensation cost related to unvested stock options of $ 15.7 million, which is expected to be amortized over the remaining weighted average vesting period of approximately 2.7 years . RSU activity was as follows: Period Ended March 31, 2022 Weighted Average Number of Grant Date RSUs Fair Value Outstanding at March 1, 2022 264,420 $ 31.55 Granted 485,605 24.02 Vested ( 24,101 ) 31.55 Forfeited ( 1,047 ) 31.55 Outstanding at March 31, 2022 724,877 $ 26.51 At March 31, 2022, we had unrecognized share-based compensation cost related to unvested RSUs of $ 17.2 million, which is expected to be amortized into net income over the remaining weighted average vesting period of approximately 2.7 years. The total fair value of RSUs that vested during the period ended March 31, 2022 was $ 0.8 million.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	4. Earnings Per Share On March 1, 2022, 26.1 million ZimVie common shares were distributed in connection with the distribution. For comparative purposes, and to provide a more meaningful calculation for weighted average shares, this amount was assumed to be outstanding throughout all periods presented up to and including March 1, 2022 in the calculation of basic weighted average shares. For periods prior to the distribution, it was assumed that there were no dilutive equity instruments, as there were no equity awards of ZimVie outstanding prior to the distribution. The calculation of weighted average shares for the basic and diluted share earnings per common shares is as follows (in thousands, except per share data): For the Three Months Ended March 31, 2022 2021 Net (loss) income $ ( 25,656 ) $ 427 Weighted Average shares outstanding for basic net earnings per share 26,057 26,050 Effect of dilutive stock options and other equity awards (1) — — Weighted Average shares outstanding for dilutive net earnings per share 26,057 26,050 Basic and diluted (loss) earnings per common share $ ( 0.98 ) $ 0.02 (1) Since we incurred a net loss in the three months ended March 31, 2022, no dilutive stock options or other equity awards were included as diluted shares. For the three months ended March 31, 2022, a weighted average of 1.7 million options to purchase shares of common stock would not have been included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	5. Inventories Inventories consisted of the following (in thousands): March 31, 2022 December 31, 2021 Finished goods $ 197,992 $ 199,553 Work-in-progress 24,556 26,700 Raw materials 16,733 20,579 Inventories $ 239,281 $ 246,832 Amounts charged to cost of products sold in the condensed consolidated statements of operations for excess and obsolete ("E&O") inventory, including certain product lines we intend to discontinue, in the three months ended March 31, 2022 and 2021 were $ 8.3 million and $ 6.7 million, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	. Goodwill and Other Intangible Assets The following table summarizes the changes in the carrying amount of goodwill by historical reportable segment (in thousands): Spine Dental Total Balance at December 31, 2021 Goodwill, Gross $ 1,089,400 $ 409,810 $ 1,499,210 Accumulated impairment losses ( 1,089,400 ) ( 142,000 ) ( 1,231,400 ) Goodwill, Net — 267,810 267,810 Currency translation — ( 4,795 ) ( 4,795 ) Balance at March 31, 2022 Goodwill, Gross 1,089,400 405,015 1,494,415 Accumulated impairment losses ( 1,089,400 ) ( 142,000 ) ( 1,231,400 ) Goodwill, Net $ — $ 263,015 $ 263,015 The components of identifiable intangible assets were as follows (in thousands): Technology Trademarks Customer Relationships Other Total As of December 31, 2021: Intangible assets subject to amortization: Gross carrying amount $ 873,913 $ 143,187 $ 379,967 $ 56,839 $ 1,453,906 Accumulated amortization ( 409,839 ) ( 56,233 ) ( 171,576 ) ( 50,083 ) ( 687,731 ) Total identifiable intangible assets $ 464,074 $ 86,954 $ 208,391 $ 6,756 $ 766,175 As of March 31, 2022: Intangible assets subject to amortization: Gross carrying amount $ 863,671 $ 141,292 $ 372,641 $ 56,844 $ 1,434,448 Accumulated amortization ( 417,823 ) ( 57,802 ) ( 173,654 ) ( 49,170 ) ( 698,449 ) Total identifiable intangible assets $ 445,848 $ 83,490 $ 198,987 $ 7,674 $ 735,999 Estimated annual amortization expense based upon intangible assets recognized as of March 31, 2022 for the years ending December 31, 2022 through 2026 is (in millions): For the Years Ending December 31, 2022 (remaining) $ 60.2 2023 80.4 2024 78.0 2025 75.2 2026 72.6 Thereafter 369.6 Total $ 736.0

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2022
Other Current Liabilities [Abstract]
Other Current Liabilities	7. Other Current Liabilities Other current liabilities consisted of the following (in thousands): March 31, 2022 December 31, 2021 Other current liabilities: License and service agreements $ 27,633 $ 31,154 Salaries, wages and benefits 26,269 40,986 Lease liabilities 13,123 12,628 Accrued liabilities 56,063 48,512 Total other current liabilities $ 123,088 $ 133,280

Fair Value Measurements of Asse

Fair Value Measurements of Assets and Liabilities	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements of Assets and Liabilities	. Fair Value Measurements of Assets and Liabilities The fair value of foreign currency exchange forward contracts (see Note 10) are determined using Level 2 inputs. The carrying value of our debt (see Note 9) approximates fair value as it bears interest at floating rates. The carrying amounts of other financial instruments (i.e., cash and cash equivalents, restricted cash, bank time deposits, accounts receivable, net, and accounts payable) approximated their fair values at December 31, 2021 and March 31, 2022 due to their short-term nature. The fair values of acquisition-related contingent payments are estimated using Level 3 inputs. Contingent payments related to acquisitions consist of sales-based payments, and are valued using discounted cash flow techniques. The fair value of sales-based payments is based upon probability-weighted future revenue estimates, and increases as revenue estimates increase. See Note 10 to our combined financial statements included in our Annual Report for additional information regarding contingent payments related to acquisitions. The following table provides a reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis that used significant unobservable inputs (Level 3) (in thousands): Level 3 - Liabilities Contingent payments related to acquisitions Balance December 31, 2021 $ 10,181 Foreign currency impact 319 Balance March 31, 2022 $ 10,500

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	. Debt Our debt consisted of the following (in thousands): March 31, 2022 December 31, 2021 Term loan $ 561,000 $ — Debt issuance costs ( 5,077 ) — Total debt 555,923 — Less: current portion ( 14,025 ) — Total debt due after one year $ 541,898 $ — We entered into a Credit Agreement, dated as of December 17, 2021 (the “Credit Agreement”), with JP Morgan Chase Bank, N.A., as administrative agent and syndication agent, and the lenders and issuing banks named therein. The Credit Agreement provides for revolving loans of up to $ 175.0 million (the “Revolver”) and term loan borrowings of up to $ 595.0 million. On February 28, 2022 we borrowed the entire $ 595.0 million of available term loan borrowings (the “Original Term Loan Borrowing”) and on March 1, 2022, we prepaid $ 34.0 million of the Original Term Loan Borrowing (the $ 561.0 million of term borrowings following such prepayment being referred to as the “Term Loan” and, together with the Revolver, the “Credit Facility”). The Credit Facility has an initial term of five years . As of March 31, 2022, there were no borrowings under the Revolver. Subject to reduction as a result of the $ 34.0 million prepayment of the Original Term Loan Borrowing on March 1, 2022, the Term Loan will amortize in equal quarterly installments in an aggregate amount equal to (i) 2.5 % per annum of the original principal amount of the Original Term Loan Borrowing for the first two years of the facility, (ii) 5.0 % per annum of the original principal amount of the Original Term Loan Borrowing for the following year of the facility and (iii) 10.0 % per annum of the original principal amount of the Original Term Loan Borrowing for the last two years of the facility, commencing at the end of the fiscal quarter ending June 30, 2022, with the unpaid balance due in full on the maturity date. We are permitted to voluntarily prepay the loans under the Credit Facility at any time without premium or penalty, other than breakage fees. Borrowings under the Revolver and the Term Loan bear interest, in the case of each term benchmark borrowing, at the adjusted term secured overnight financing rate (“SOFR”) for the interest period in effect for such borrowing, plus an applicable margin, which will range from 1.50 % to 1.75 %, based on ZimVie's consolidated total net leverage ratio. Borrowings under the Credit Facility that are not term benchmark borrowings bear interest at a per annum rate equal to (a) the greatest of (i) the prime rate in effect on such day, (ii) the Federal Reserve Bank of New York rate in effect on such day plus 1 ⁄ 2 of 1% and (iii) the adjusted term SOFR for a one month interest period as published two U.S. government securities business days prior to such day (or if such day is not a business day, the immediately preceding business day) plus 1%, plus (b) an applicable margin, which may range from 0.50% to 0.75%, based on ZimVie's consolidated total net leverage ratio. As of March 31, 2022, the applicable margin was 1.75% for term benchmark borrowings and 0.75% for benchmark borrowings. Commitments under the Revolver are s ubject to a commitment fee on the unused portion of the Revolver of 25 basis points. Borrowings under the Credit Facility are collateralized by substantially all of our personal property, including intellectual property, and certain real property and we, along with our subsidiaries party to the Credit Facility, pledged our equity interests in our subsidiaries, subject to materiality thresholds and certain limitations with respect to foreign subsidiaries. The Credit Facility contains various covenants that restrict our ability to take certain actions, including incurrence of indebtedness, creation of liens, mergers or consolidations, dispositions of assets, making certain investments, prepayments or redemptions of subordinated debt, or making certain restricted payments. In addition, the Credit Facility contains financial covenants that require us to maintain at the end of any of our fiscal quarters commencing with the fiscal quarter ending June 30, 2022, a maximum consolidated total net leverage ratio of 6.00 to 1.00 . We were in compliance with all covenants as of March 31, 2022. See Note 13 to our combined financial statements included in our Annual Report for additional information on our Credit Agreement.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2022
Derivatives [Abstract]
Derivatives	. Derivatives We enter into foreign currency exchange forward contracts with terms of one to three months in order to manage currency exposures for monetary assets and liabilities denominated in a currency other than an entity’s functional currency. Any foreign currency re-measurement gains or losses recognized in earnings are generally offset with gains or losses on the foreign currency exchange forward contracts in the same reporting period. The amount of these gains (losses) is recorded in Other income (expense), net. Outstanding contracts are recorded on the condensed consolidated balance sheet at fair value as of the end of the reporting period. The notional amounts of these contracts were $ 40.0 million as of March 31, 2022. Current derivative assets of $ 0.1 million as of March 31, 2022 are included in Prepaid expenses and other current assets on our condensed consolidated balance sheets. Current derivative liabilities of $ 0.1 million as of March 31, 2022 are included in Other current liabilities in our condensed consolidated balance sheets. Gains (losses) from these derivative instruments recognized on our condensed consolidated statements of operations in Other income (expense), net were negligible for each of the three months ended March 31, 2022 and 2021. We had no outstanding derivatives as of December 31, 2021 and no activity for the three months ended March 31, 2021.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes Our effective tax rate (“ETR”) on loss before income taxes was 22.4 % and 324.7 % for the three months ended March 31, 2022 and 2021, respectively. In the three months ended March 31, 2022, the additional income tax benefit compared to the 21 % statutory rate was driven by the impact of losses recorded prior to the distribution that were calculated on a “carve-out” basis, which applied the accounting guidance as if we filed income tax returns on a standalone, separate return basis and are not reflective of the tax results we expect to generate in the future. The benefit was further driven by state tax benefits, partially offset by foreign rate differentials and other permanent items. In the three months ended March 31, 2021, the income tax benefit was largely driven by the close to break-even income. In periods where our operating income approximates or is equal to break-even, the effective tax rates for quarter-to-date and full-year periods may not be meaningful due to discrete period items. During the three months ended March 31, 2022, income tax balances were adjusted to reflect the income tax positions after distribution, including those related to tax loss and credit carryforwards, other deferred tax assets and liabilities and valuation allowances. These separation-related adjustments resulted in a $ 3.9 million increase to the net deferred tax liability, primarily due to inventory and intangible assets transferred in the separation, tax rate changes and changes to the permanent reinvestment assertion in the post-separation environment. The increase in the net deferred tax liability was offset by a corresponding decrease in NPI.

Segment Data

Segment Data	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Data	12. Segment Data Net sales and other information by segment are as follows (in thousands): Net Sales Operating (Loss) Profit Depreciation and Amortization Three Months Ended March 31, Three Months Ended March 31, Three Months Ended March 31, 2022 2021 2022 2021 2022 2021 Spine $ 114,113 $ 132,588 $ 5,099 $ 16,337 $ 8,341 $ 8,866 Dental 120,569 113,352 25,659 23,274 948 927 Segment Total 234,682 245,940 30,758 39,611 9,289 9,793 Related party transactions 919 1,791 ( 11,897 ) ( 16,207 ) — — Expenses related to Parent — — ( 616 ) ( 86 ) — — Intangible asset amortization — — ( 20,905 ) ( 21,883 ) 20,905 21,883 Restructuring — — ( 742 ) ( 482 ) — — Acquisition, integration, — — ( 9,005 ) ( 1,225 ) — — Other — — ( 20,216 ) 597 2,360 1,296 Total $ 235,601 $ 247,731 $ ( 32,623 ) $ 325 $ 32,554 $ 32,972

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	13. Related Party Transactions Prior to the distribution, we did not operate as a standalone business and had various relationships with Zimmer Biomet whereby Zimmer Biomet provided services to us. Following the distribution, certain functions that Zimmer Biomet provided to us prior to the distribution either continue to be provided to us by Zimmer Biomet under a transition services agreement or are being performed using our own resources or third-party service providers. The following disclosures summarize activity between us and Zimmer Biomet that are included in our condensed consolidated financial statements. Prior to Distribution Corporate Overhead and Other Allocations from Zimmer Biomet Zimmer Biomet provided certain services, which included, but were not limited to, executive oversight, treasury, finance, legal, human resources, tax planning, internal audit, financial reporting, information technology and other corporate departments. The expenses related to these services have been allocated based on direct usage or benefit where specifically identifiable, with the remainder allocated on a proportional cost allocation method based primarily on net trade sales, as applicable. When specific identification is not practicable, a proportional cost method was used primarily based on sales. Some of these services continue to be provided by Zimmer Biomet to ZimVie on a temporary basis after the separation under a transition services agreement. Corporate allocations reflected in the condensed consolidated statements of operations are as follows (in thousands): For the Three Months Ended March 31, 2022 2021 Cost of products sold $ ( 78 ) $ ( 88 ) Selling, general & administrative 14,271 16,875 Acquisition, integration, divestiture and related ( 357 ) — Management believes that the methods used to allocate expenses to ZimVie are a reasonable reflection of the utilization of services provided to, or the benefit derived by, ZimVie during the periods presented. However, the allocations may not necessarily reflect the condensed consolidated financial position, results of operations and cash flows in the future or what they would have been had ZimVie been a separate, standalone entity during the periods presented. Share-Based Compensation As discussed in Note 3, our employees participated in Zimmer Biomet’s share-based compensation plans, the costs of which have been allocated and recorded in cost of products sold, R&D, and selling, general and administrative expenses in the condensed consolidated statements of operations. Share-based compensation costs related to our employees prior to the distribution were $ 1.0 million and $ 1.4 million for the three months ended March 31, 2022 and 2021, respectively. In connection with the distribution, the awards held by employees were modified and resulted in incremental compensation expense as discussed in Note 3. Centralized Cash Management Zimmer Biomet used a centralized approach to cash management and financing of operations. The majority of our subsidiaries were party to Zimmer Biomet’s cash pooling arrangements with several financial institutions to maximize the availability of cash for general operating and investing purposes. Under these cash pooling arrangements, cash balances were swept regularly from our accounts. Cash transfers to and from Zimmer Biomet’s cash concentration accounts and the resulting balances at the end of each reporting period were reflected in NPI and net transactions with Zimmer Biomet in the condensed consolidated balance sheets and statements of cash flows, respectively. Prior to the distribution, we borrowed $ 595 million under our borrowing agreement (see Note 9) and subsequently distributed $ 561 million of the proceeds to Zimmer Biomet. After this distribution and the impact of various transactions between the parties related to the separation, we had approximately $ 100 million of cash at distribution to operate as a standalone company. This includes approximately $ 10 million that will be payable to Zimmer Biomet upon the termination of certain interim operating model agreements as described below. Manufacturing Services to Zimmer Biomet We have certain manufacturing facilities that also produce orthopedic products that continue to be sold by Zimmer Biomet after the separation. The condensed consolidated statements of operations reflect the sales of these orthopedic products with Zimmer Biomet (in thousands): For the Three Months Ended March 31, 2022 2021 Related party net sales $ 919 $ 1,791 Related party cost of products sold, excluding intangible asset amortization 797 1,211 We will continue to sell these products to Zimmer Biomet in future periods pursuant to a transition manufacturing and supply agreement as described below. Net Parent Company Investment As discussed under "Basis of Presentation" in Note 1, NPI is primarily impacted by contributions from Zimmer Biomet as a result of treasury activities and net funding provided by or distributed to Zimmer Biomet. The components of NPI are (in thousands): For the Three Months Ended March 31, 2022 2021 Cash pooling and general financing activities $ ( 20,756 ) $ ( 16,717 ) Corporate cost allocations 13,836 16,787 Net transactions with Zimmer Biomet reflected in the Condensed Consolidated ( 6,920 ) 70 Share-based compensation expense ( 1,042 ) ( 1,425 ) Other non-cash adjustments 78,392 ( 62 ) Net transactions with parent reflected in the Condensed Consolidated Statements of $ 70,430 $ ( 1,417 ) For all periods prior to the distribution, transfers between ZimVie and Zimmer Biomet affiliates were recognized in Net transactions with Zimmer Biomet. In connection with the distribution, certain net assets of approximately $ 79 million that were included in our pre-distribution balance sheet were retained by Zimmer Biomet, with the offset of the non-cash transaction reflected as a distribution within NPI. Separation-related adjustments were also recognized in Net transactions with Zimmer Biomet. After Distribution In connection with the distribution, ZimVie entered into various agreements that govern activity between the parties, including, but not limited to, the the Separation and Distribution Agreement (the “Separation Agreement”), the Transition Services Agreement, interim operating model ("IOM") agreements, the Tax Matters Agreement, the Employee Matters Agreement and transition manufacturing and supply agreements. The amount due from and to Zimmer Biomet under the various agreements described below are included in related party receivable or payable, as applicable, in our condensed consolidated balance sheets as follows (in thousands): March 31, 2022 December 31, 2021 Related party receivable $ 23,974 $ — Related party payable 26,261 — The Separation Agreement sets forth our agreements with Zimmer Biomet regarding the principal actions taken in connection with the separation and the distribution. It also sets forth other agreements that govern aspects of our relationship with Zimmer Biomet following the separation and the distribution. The Separation Agreement provides for, among other things, (i) the assets to be transferred, the liabilities to be assumed and the contracts to be assigned to each of us and Zimmer Biomet as part of the separation, (ii) cross-indemnities principally designed to place financial responsibility for the obligations and liabilities of the ZimVie businesses with us and financial responsibility for the obligations and liabilities of Zimmer Biomet’s remaining businesses with Zimmer Biomet, (iii) procedures with respect to claims subject to indemnification and related matters and governing our and Zimmer Biomet’s obligations and allocations of liabilities with respect to ongoing litigation matters and (iv) the allocation between us and Zimmer Biomet of rights and obligations under existing insurance policies with respect to occurrences prior to completion of the distribution. The Separation Agreement also provides that, in order to obtain certain requisite governmental approvals, or for other business reasons, following the distribution date, Zimmer Biomet and certain of its affiliates will continue to operate certain activities relating to the ZimVie businesses in certain jurisdictions until the requisite approvals have been received or the occurrence of all other actions permitting the legal transfer of such activities, and we will receive, to the greatest extent possible, all of the economic benefits and burdens of such activities. The agreements that we entered into with Zimmer Biomet that govern aspects of ZimVie's relationship with Zimmer Biomet following the distribution include: Transition Services Agreement - Pursuant to the Transition Services Agreement, we and Zimmer Biomet provide certain services to one another, on an interim, transitional basis following the separation and the distribution. The services provided include certain regulatory services, commercial services, operational services, tax services, clinical affairs services, information technology services, finance and accounting services and human resource and employee benefits services. The agreed-upon charges for such services are generally intended to allow the providing company to recover all costs and expenses of providing such services and are included in Selling, general and administrative in our condensed consolidated statements of operations. The Transition Services Agreement terminates on the expiration of the term of the last service provided thereunder, which will generally be no later than March 31, 2025. Subject to certain exceptions in the case of willful misconduct or fraud, the liability of each of Zimmer Biomet and us under the Transition Services Agreement for the services it provides will be limited to the aggregate service fees paid to it in the immediately preceding one-year period. Interim Operating Agreements - Zimmer Biomet and ZimVie entered into a series of IOM agreements pursuant to which Zimmer Biomet and certain of its affiliates that held licenses, permits and other rights in connection with marketing, import and/or distribution of ZimVie products in various jurisdictions prior to the distribution will continue to market, import and distribute such products until such time as the relevant licenses and permits are transferred to ZimVie or its affiliates, while permitting ZimVie (or Zimmer Biomet, as applicable) to recognize revenue relating to the sale of its respective products, to the extent practicable. Under such IOM agreements and in accordance with the Separation Agreement, the relevant Zimmer Biomet entity will continue operations in the affected market on behalf of ZimVie, with ZimVie receiving all of the economic benefits and burdens of such activities. ZimVie began receiving these economic benefits as of March 1, 2022. Based on the terms of the IOM agreements, ZimVie determined it is the principal under this arrangement when: ZimVie holds all risks and rewards of ownership inclusive of risk of loss, market risk and benefits related to the inventory; ZimVie has latitude in pricing; ZimVie has the ability to direct Zimmer Biomet regarding decisions over inventory; and ZimVie is responsible for all credit and collections risks and losses associated with the related receivables. ZimVie is the principal in the majority of the IOM agreements and recognizes those sales on a gross basis. In limited jurisdictions, ZimVie is not the principal and recognizes revenue on a net basis. Upon exit of certain IOM agreements, ZimVie will pay approximately $ 10 million for the purchase of accounts receivable and inventory from Zimmer Biomet. Tax Matters Agreement - The Tax Matters Agreement governs the respective rights, responsibilities and obligations of us and Zimmer Biomet after the distribution with respect to taxes (including taxes arising in the ordinary course of business and taxes, if any, incurred as a result of any failure of the distribution and certain related transactions to qualify as tax-free for U.S. federal income tax purposes), tax attributes, the preparation and filing of tax returns, tax elections, the control of audits and other tax proceedings and assistance and cooperation in respect of tax matters. The Tax Matters Agreement also imposes certain restrictions on us and our subsidiaries (including, among others, restrictions on share issuances, business combinations, sales of assets and similar transactions) designed to preserve the tax-free status of the distribution and certain related transactions. The Tax Matters Agreement provides special rules that allocate tax liabilities in the event the distribution, together with certain related transactions, does not qualify as tax-free. In general, under the Tax Matters Agreement, each party is expected to be responsible for any taxes imposed on Zimmer Biomet or us, as the case may be, that arise from the failure of the distribution, together with certain related transactions, to qualify as a transaction that is generally tax-free under Sections 355 and 368(a)(1)(D) and certain other relevant provisions of the Internal Revenue Code of 1986, to the extent that the failure to so qualify is attributable to actions, events or transactions relating to such party’s respective stock, assets or business, or a breach of the relevant representations or covenants made by that party in the Tax Matters Agreement. However, if such failure was the result of any acquisition of our shares or assets, or of any of our representations, statements or undertakings being incorrect, incomplete or breached, we generally will be responsible for all taxes imposed as a result of such acquisition or breach. Employee Matters Agreement - The Employee Matters Agreement allocates liabilities and responsibilities relating to employment matters, employee compensation and benefits plans and programs and other related matters. The Employee Matters Agreement governs certain compensation and employee benefits obligations with respect to the current and former employees and non-employee directors of each party. The Employee Matters Agreement provides that, except as otherwise specified, Zimmer Biomet is generally responsible for liabilities associated with employees who will remain employed by Zimmer Biomet and former employees whose last employment was with Zimmer Biomet’s businesses, and we are generally responsible for liabilities associated with employees who are or will be employed by us and former employees whose last employment was with the ZimVie businesses. The Employee Matters Agreement provided for the conversion of the outstanding awards granted under Zimmer Biomet’s equity compensation programs into adjusted awards relating to shares of Zimmer Biomet and/or ZimVie common stock in a manner intended to preserve the aggregate intrinsic value of the original awards. The adjusted awards are subject to substantially similar terms, vesting conditions, post-termination exercise rules and other restrictions that applied to the original Zimmer Biomet awards immediately before the separation. Transition Manufacturing and Supply Agreement and Reverse Transition Manufacturing and Supply Agreement - Pursuant to the Transition Manufacturing and Supply Agreement and the Reverse Transition Manufacturing and Supply Agreement, we or Zimmer Inc., a wholly-owned subsidiary of Zimmer Biomet, as the case may be, will manufacture or cause to be manufactured certain products for the other party, on an interim, transitional basis. Pursuant to such agreements, we or Zimmer, Inc., as the case may be, will be required to purchase certain minimum amounts of products from the other party. The Transition Manufacturing and Supply Agreement and the Reverse Transition Manufacturing and Supply Agreement will terminate on the expiration of the term of the last product manufactured by us or Zimmer, Inc., as the case may be, pursuant to such agreements, which will generally be no later than March 1, 2027. Other agreements include the Intellectual Property Matters Agreement and the Transitional Trademark License Agreement.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies We are subject to contingencies, such as various claims, legal proceedings and investigations regarding product liability, intellectual property, commercial and other matters that arise in the normal course of business. On a quarterly and annual basis, we review relevant information with respect to loss contingencies and update our accruals, disclosures and estimates of reasonably possible losses or ranges of loss based on such reviews. We record liabilities for loss contingencies when it is probable that a loss has been incurred and the amount can be reasonably estimated. For matters where a loss is believed to be reasonably possible, but not probable, no accrual has been made. Legal defense costs expected to be incurred in connection with a loss contingency are accrued when probable and reasonably estimable. The recorded accrual balance for loss contingencies was $5.3 million and $5.9 million as of March 31, 2022 and December 31, 2021, respectively. Initiation of new legal proceedings or a change in the status of existing proceedings may result in a change in the estimated loss accrued. Subject to certain exceptions specified in the Separation Agreement, we assumed the liability for, and control of, all pending and threatened legal matters related to our business, including liabilities for any claims or legal proceedings related to products that had been part of our business, but were discontinued prior to the distribution, as well as assumed or retained liabilities, and will indemnify Zimmer Biomet for any liability arising out of or resulting from such assumed legal matters.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Nature of Business	Nature of Business ZimVie is a leading medical technology company dedicated to enhancing the quality of life for spine and dental patients worldwide. We develop, manufacture and market a comprehensive portfolio of products and solutions designed to treat a wide range of spine pathologies and support dental tooth replacement and restoration procedures. Our broad portfolio addresses all areas of spine with market leadership in cervical disc replacement and vertebral body tethering to treat pediatric scoliosis, and we are well-positioned in the growing global dental implant and biomaterials market with market leadership in oral reconstruction. Our operations are principally managed on a products basis and include two operating segments, 1) the spine products segment, and 2) the dental products segment. In the spine products market, our core services include designing, manufacturing and distributing medical devices and surgical instruments to deliver comprehensive solutions for individuals with back or neck pain caused by degenerative conditions, deformities or traumatic injury of the spine. We also provide devices that promote bone healing. Other differentiated products in our spine portfolio include Mobi-C® Cervical Disc and The Tether™. In the dental products market, our core services include designing, manufacturing and distributing dental implant solutions. Dental reconstructive implants are for individuals who are totally without teeth or are missing one or more teeth, dental prosthetic products are aimed at providing a more natural restoration to resemble the original teeth, and dental regenerative products are for soft tissue and bone rehabilitation. Our key products include the T3® Implant, Tapered Screw-Vent Implant System, Trabecular Metal™ Dental Implant, BellaTek Encode Impression System, and Puros Allograft Particulate.
Basis of Presentation	Basis of Presentation We have historically existed and functioned as part of the consolidated business of Zimmer Biomet. The accompanying condensed consolidated financial statements are prepared on a standalone basis and, for periods prior to March 1, 2022, are derived from Zimmer Biomet’s consolidated financial statements and accounting records. On March 1, 2022, ZimVie became a standalone publicly traded company, and our financial statements are now presented on a consolidated basis. Prior to March 1, 2022, our historical condensed combined financial statements were prepared on a carve-out basis. The unaudited financial statements for all periods presented, including our historical results prior to March 1, 2022, are now referred to as "Condensed Consolidated Financial Statements," and have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain information and disclosures required by U.S. generally accepted accounting principles ("GAAP") for complete consolidated financial statements are not included herein. In our opinion, all adjustments necessary for a fair statement of these interim statements have been included and are of a normal and recurring nature. These interim statements should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021 ("Annual Report"). The results of operations of any interim period are not necessarily indicative of the results of operations for the full year. Prior to the distribution, our equity balance in these condensed consolidated financial statements represented the excess of total assets over liabilities including the due to/from balances between us and Zimmer Biomet (referred to as "net parent investment" or "NPI") and accumulated other comprehensive income (loss). NPI was primarily impacted by contributions from Zimmer Biomet which were the result of treasury activities and net funding provided by or distributed to Zimmer Biomet. Following the distribution, certain functions that Zimmer Biomet provided to us prior to the distribution either continue to be provided to us by Zimmer Biomet under a transition services agreement or are being performed using our own resources or third-party service providers. Additionally, under manufacturing and supply agreements, we manufacture certain products for Zimmer Biomet and Zimmer Biomet manufactures certain products for us. We have incurred, and expect to continue to incur, certain costs to establish ourselves as a standalone public company, as well as ongoing additional costs associated with operating as an independent, publicly traded company.
Accounting Pronouncements Recently Adopted	Accounting Pronouncements Recently Issued There are no recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position, results of operations or cash flows.

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2022
Restructuring Plans Member
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Liabilities	The following table summarizes the liabilities directly attributable to us that were recognized under the Restructuring Plans (in thousands): Employee Other Total Balance, December 31, 2021 $ 1,099 $ 1,150 $ 2,249 Additions — 742 742 Cash payments ( 36.0 ) ( 742 ) ( 778 ) Balance, March 31, 2022 $ 1,063 $ 1,150 $ 2,213 Balance, December 31, 2020 $ 1,960 $ — $ 1,960 Additions 148 334 482 Cash payments ( 148 ) ( 334 ) ( 482 ) Balance, March 31, 2021 $ 1,960 $ — $ 1,960

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation	Share-based compensation expense was as follows (in thousands): For the Three Months Ended March 31, 2022 2021 Share-based compensation expense recognized in: Cost of products sold, excluding intangible asset amortization $ 1,797 $ 128 Research and development 2,078 229 Selling, general and administrative 9,597 1,068 13,472 1,425 Tax benefit related to awards ( 3,148 ) ( 334 ) Total expense, net of tax $ 10,324 $ 1,091
Summary of Stock Option Activity	Stock option activity was as follows: Period Ended March 31, 2022 Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Stock Options Price Life (Years) Value (in Millions) Outstanding at March 1, 2022 2,125,548 $ 27.32 Granted 360,989 24.02 Exercised ( 8,772 ) 14.22 Forfeited ( 3,991 ) 28.83 Outstanding at March 31, 2022 2,473,774 $ 26.88 7.6 $ 0.7 Exercisable at March 31, 2022 1,275,892 $ 25.20 6.3 $ 0.7
Summary of Restricted Stock Unit Activity	RSU activity was as follows: Period Ended March 31, 2022 Weighted Average Number of Grant Date RSUs Fair Value Outstanding at March 1, 2022 264,420 $ 31.55 Granted 485,605 24.02 Vested ( 24,101 ) 31.55 Forfeited ( 1,047 ) 31.55 Outstanding at March 31, 2022 724,877 $ 26.51

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Summary of Weighted Average Shares for Basic and Diluted Earnings Per Common Shares	The calculation of weighted average shares for the basic and diluted share earnings per common shares is as follows (in thousands, except per share data): For the Three Months Ended March 31, 2022 2021 Net (loss) income $ ( 25,656 ) $ 427 Weighted Average shares outstanding for basic net earnings per share 26,057 26,050 Effect of dilutive stock options and other equity awards (1) — — Weighted Average shares outstanding for dilutive net earnings per share 26,057 26,050 Basic and diluted (loss) earnings per common share $ ( 0.98 ) $ 0.02

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories consisted of the following (in thousands): March 31, 2022 December 31, 2021 Finished goods $ 197,992 $ 199,553 Work-in-progress 24,556 26,700 Raw materials 16,733 20,579 Inventories $ 239,281 $ 246,832

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Goodwill by Reportable Segment	The following table summarizes the changes in the carrying amount of goodwill by historical reportable segment (in thousands): Spine Dental Total Balance at December 31, 2021 Goodwill, Gross $ 1,089,400 $ 409,810 $ 1,499,210 Accumulated impairment losses ( 1,089,400 ) ( 142,000 ) ( 1,231,400 ) Goodwill, Net — 267,810 267,810 Currency translation — ( 4,795 ) ( 4,795 ) Balance at March 31, 2022 Goodwill, Gross 1,089,400 405,015 1,494,415 Accumulated impairment losses ( 1,089,400 ) ( 142,000 ) ( 1,231,400 ) Goodwill, Net $ — $ 263,015 $ 263,015
Summary of Identifiable Intangible Assets	The components of identifiable intangible assets were as follows (in thousands): Technology Trademarks Customer Relationships Other Total As of December 31, 2021: Intangible assets subject to amortization: Gross carrying amount $ 873,913 $ 143,187 $ 379,967 $ 56,839 $ 1,453,906 Accumulated amortization ( 409,839 ) ( 56,233 ) ( 171,576 ) ( 50,083 ) ( 687,731 ) Total identifiable intangible assets $ 464,074 $ 86,954 $ 208,391 $ 6,756 $ 766,175 As of March 31, 2022: Intangible assets subject to amortization: Gross carrying amount $ 863,671 $ 141,292 $ 372,641 $ 56,844 $ 1,434,448 Accumulated amortization ( 417,823 ) ( 57,802 ) ( 173,654 ) ( 49,170 ) ( 698,449 ) Total identifiable intangible assets $ 445,848 $ 83,490 $ 198,987 $ 7,674 $ 735,999
Summary of Estimated Annual Amortization Expense Based upon Intangible Assets Recognized	Estimated annual amortization expense based upon intangible assets recognized as of March 31, 2022 for the years ending December 31, 2022 through 2026 is (in millions): For the Years Ending December 31, 2022 (remaining) $ 60.2 2023 80.4 2024 78.0 2025 75.2 2026 72.6 Thereafter 369.6 Total $ 736.0

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Other Current Liabilities [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consisted of the following (in thousands): March 31, 2022 December 31, 2021 Other current liabilities: License and service agreements $ 27,633 $ 31,154 Salaries, wages and benefits 26,269 40,986 Lease liabilities 13,123 12,628 Accrued liabilities 56,063 48,512 Total other current liabilities $ 123,088 $ 133,280

Fair Value Measurements of As_2

Fair Value Measurements of Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Reconciliation of Items Measured at Fair Value on Recurring Basis with Significant Unobservable Inputs (Level 3)	The following table provides a reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis that used significant unobservable inputs (Level 3) (in thousands): Level 3 - Liabilities Contingent payments related to acquisitions Balance December 31, 2021 $ 10,181 Foreign currency impact 319 Balance March 31, 2022 $ 10,500

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Our debt consisted of the following (in thousands): March 31, 2022 December 31, 2021 Term loan $ 561,000 $ — Debt issuance costs ( 5,077 ) — Total debt 555,923 — Less: current portion ( 14,025 ) — Total debt due after one year $ 541,898 $ —

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Summary of Net Sales and Other Information by Segment	Net sales and other information by segment are as follows (in thousands): Net Sales Operating (Loss) Profit Depreciation and Amortization Three Months Ended March 31, Three Months Ended March 31, Three Months Ended March 31, 2022 2021 2022 2021 2022 2021 Spine $ 114,113 $ 132,588 $ 5,099 $ 16,337 $ 8,341 $ 8,866 Dental 120,569 113,352 25,659 23,274 948 927 Segment Total 234,682 245,940 30,758 39,611 9,289 9,793 Related party transactions 919 1,791 ( 11,897 ) ( 16,207 ) — — Expenses related to Parent — — ( 616 ) ( 86 ) — — Intangible asset amortization — — ( 20,905 ) ( 21,883 ) 20,905 21,883 Restructuring — — ( 742 ) ( 482 ) — — Acquisition, integration, — — ( 9,005 ) ( 1,225 ) — — Other — — ( 20,216 ) 597 2,360 1,296 Total $ 235,601 $ 247,731 $ ( 32,623 ) $ 325 $ 32,554 $ 32,972

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Summary of Corporate Allocations Reflected in the Combined Statements of Operations	Corporate allocations reflected in the condensed consolidated statements of operations are as follows (in thousands): For the Three Months Ended March 31, 2022 2021 Cost of products sold $ ( 78 ) $ ( 88 ) Selling, general & administrative 14,271 16,875 Acquisition, integration, divestiture and related ( 357 ) —
Summary of Sale Transactions with Related Party	The condensed consolidated statements of operations reflect the sales of these orthopedic products with Zimmer Biomet (in thousands): For the Three Months Ended March 31, 2022 2021 Related party net sales $ 919 $ 1,791 Related party cost of products sold, excluding intangible asset amortization 797 1,211 We will continue to sell these products to Zimmer Biomet in future periods pursuant to a transition manufacturing and supply agreement as described below.
Summary of Net Parent Company Investment	The components of NPI are (in thousands): For the Three Months Ended March 31, 2022 2021 Cash pooling and general financing activities $ ( 20,756 ) $ ( 16,717 ) Corporate cost allocations 13,836 16,787 Net transactions with Zimmer Biomet reflected in the Condensed Consolidated ( 6,920 ) 70 Share-based compensation expense ( 1,042 ) ( 1,425 ) Other non-cash adjustments 78,392 ( 62 ) Net transactions with parent reflected in the Condensed Consolidated Statements of $ 70,430 $ ( 1,417 )
Summary of payments presented in condensed consolidated balance sheet	The amount due from and to Zimmer Biomet under the various agreements described below are included in related party receivable or payable, as applicable, in our condensed consolidated balance sheets as follows (in thousands): March 31, 2022 December 31, 2021 Related party receivable $ 23,974 $ — Related party payable 26,261 —

Background, Nature of Busines_2

Background, Nature of Business and Basis of Presentation - Additional Information (Details) - Segment	Mar. 01, 2022	Mar. 31, 2022
Percentage of Common Stock Shares Outstanding		80.30%
Number of Operating Segments		2
Zimmer Biomet
Percentage of Common Stock Shares Outstanding	80.30%
Zim Vie Inc
Percentage of Common Stock Shares Outstanding		19.70%

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Liabilities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring Cost and Reserve [Line Items]
Additions	$ 742,000	$ 482,000
Restructuring Plans Member
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	2,249,000	1,960,000
Additions	742,000	482,000
Cash payments	(778,000)	(482,000)
Restructuring Reserve, Ending Balance	2,213,000	1,960,000
Employee Severance [Member] | Restructuring Plans Member
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	1,099,000	1,960,000
Additions	0	148,000
Cash payments	(36,000)	(148,000)
Restructuring Reserve, Ending Balance	1,063,000	1,960,000
Other Restructuring [Member] | Restructuring Plans Member
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	1,150,000	0
Additions	742,000	334,000
Cash payments	(742,000)	(334,000)
Restructuring Reserve, Ending Balance	$ 1,150,000	$ 0

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Feb. 28, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ 13,472	$ 1,425
Unexercised stock option,Vested	10,300
Incremental Expense, unrecognised	$ 9,700
Weighted average remaining vesting period	2 years 6 months
weighted average recognized, vested	$ 1,300
Vesting period	3 years
Expected Volatility	52.29%
Expected term	6 years
Risk-free interest rate	1.94%
Dividend yield	0.00%
Unrecognized share-based compensation cost related to unvested stock options	$ 15,700
Weighted average vesting period of unrecognized share-based compensation costs	2 years 8 months 12 days
2022 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares authorized	3
Shares available for future grants	2.2
Zim Vie Inc
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ 21,300
Stock option not yet recognized	$ 11,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value	$ 26.51		$ 31.55
Unrecognized share-based compensation cost related to unvested stock options	$ 17,200
Weighted average vesting period of unrecognized share-based compensation costs	2 years 8 months 12 days
Total fair value of RSUs vested	$ 800
Restricted Stock Units | Zim Vie Inc
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value	$ 31.55
Performance Restricted stock units and RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of Shares	0.3
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value	$ 14.76
Vesting period	10 years
Stock Option | Zim Vie Inc
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of Shares	2.1

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	$ 13,472	$ 1,425
Tax benefit related to awards	3,148	(334)
Total expense, net of tax	10,324	1,091
Cost of Products Sold, Excluding Intangible Asset Amortization [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	1,797	128
Research and Development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	2,078	229
Selling, General and Administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	$ 9,597	$ 1,068

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Millions	1 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Share-based Payment Arrangement [Abstract]
Number of Stock Options, Outstanding, Beginning Balance | shares	2,125,548
Number of Stock Options, Granted | shares	360,989
Number of Stock Options, Exercised | shares	(8,772)
Number of Stock Options, Forfeited | shares	(3,991)
Number of Stock Options, Outstanding, Ending Balance | shares	2,473,774
Number of Stock Options, Exercisable | shares	1,275,892
Weighted Average Exercise Price, Outstanding, Beginning Balance | $ / shares	$ 27.32
Weighted Average Exercise Price, Granted | $ / shares	24.02
Weighted Average Exercise Price, Exercised | $ / shares	14.22
Weighted Average Exercise Price, Forfeited | $ / shares	28.83
Weighted Average Exercise Price, Outstanding, Ending Balance | $ / shares	26.88
Weighted Average Exercise Price, Exercisable | $ / shares	$ 25.20
Weighted Average Remaining Contractual Life, Outstanding	7 years 7 months 6 days
Weighted Average Remaining Contractual Life, Exercisable	6 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding | $	$ 0.7
Aggregate Intrinsic Value, Exercisable | $	$ 0.7

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units	1 Months Ended
	Mar. 31, 2022$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSUs, Outstanding, Beginning Balance | shares	264,420
Number of RSUs, Granted | shares	485,605
Number of RSUs, Vested | shares	(24,101)
Number of RSUs, Forfeited | shares	1,047
Number of RSUs, Outstanding, Ending balance | shares	724,877
Weighted Average Grant Date Fair Value, Outstanding, Beginning Balance | $ / shares	$ 31.55
Weighted Average Grant Date Fair Value, Granted | $ / shares	24.02
Weighted Average Grant Date Fair Value, Vested | $ / shares	31.55
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	31.55
Weighted Average Grant Date Fair Value, Outstanding, Ending Balance | $ / shares	$ 26.51

Earnings Per Share - Summary of

Earnings Per Share - Summary of Weighted Average Shares for Basic and Diluted Earnings Per Common Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net (loss) income	$ (25,656)	$ 427
Weighted Average shares outstanding for basic net earnings per share	26,057	26,050
Effect of dilutive stock options and other equity awards	0	0
Weighted Average shares outstanding for dilutive net earnings per share	26,057	26,050
Basic and diluted (loss) earnings per common share	$ (0.98)	$ 0.02

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 01, 2022
Earnings Per Share [Abstract]
Number of shares distributed		26.1
Weighted average number of shares excluded from computation of diluted earnings per share	1.7

Inventories - Summary of Invent

Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 197,992	$ 199,553
Work in progress	24,556	26,700
Raw materials	16,733	20,579
Inventories	$ 239,281	$ 246,832

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Inventory Disclosure [Abstract]
Amount charged for excess and obsolete inventory	$ 8.3	$ 6.7

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount of Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2022
Goodwill [Line Items]
Goodwill, Gross	$ 1,499,210	$ 1,494,415
Accumulated impairment losses	1,231,400	1,231,400
Goodwill, Net	267,810	263,015
Currency translation	(4,795)
Spine [Member]
Goodwill [Line Items]
Goodwill, Gross	1,089,400	1,089,400
Accumulated impairment losses	1,089,400	1,089,400
Goodwill, Net	0	0
Currency translation	0
Dental [Member]
Goodwill [Line Items]
Goodwill, Gross	409,810	405,015
Accumulated impairment losses	142,000	142,000
Goodwill, Net	267,810	$ 263,015
Currency translation	$ (4,795)

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill	$ 263,015	$ 267,810
Dental [Member]
Goodwill [Line Items]
Goodwill	$ 263,015	$ 267,810

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Summary of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 1,434,448	$ 1,453,906
Accumulated amortization	(698,449)	(687,731)
Total	735,999	766,175
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	863,671	873,913
Accumulated amortization	(417,823)	(409,839)
Total	445,848	464,074
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	141,292	143,187
Accumulated amortization	(57,802)	(56,233)
Total	83,490	86,954
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	372,641	379,967
Accumulated amortization	(173,654)	(171,576)
Total	198,987	208,391
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	56,844	56,839
Accumulated amortization	(49,170)	(50,083)
Total	$ 7,674	$ 6,756

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Summary of Estimated Annual Amortization Expense Based upon Intangible Assets Recognized (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (remaining)	$ 60,200
2023	80,400
2024	78,000
2025	75,200
2026	72,600
Thereafter	369,600
Total identifiable intangible assets	$ 735,999	$ 766,175

Other Current Liabilities - Sch

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other current liabilities:
License and service agreements	$ 27,633	$ 31,154
Salaries, wages and benefits	26,269	40,986
Lease liabilities	13,123	12,628
Accrued liabilities	56,063	48,512
Total other current liabilities	$ 123,088	$ 133,280

Fair Value Measurements of As_3

Fair Value Measurements of Assets and Liabilities - Reconciliation of Items Measured at Fair Value on Recurring Basis with Significant Unobservable Inputs (Level 3) (Details) - Contingent Consideration to Acquisitions [Member] - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Beginning Balance	$ 10,181
Foreign currency impact	319
Fair Value, Ending Balance	$ 10,500

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Term loan	$ 561,000	$ 0
Debt issuance costs	(5,077)	0
Total debt	555,923	0
Less: current portion	14,025	0
Total debt due after one year	$ 541,898	$ 0

Debt - Additional Information (

Debt - Additional Information (Details) $ in Millions	Mar. 01, 2022USD ($)	Dec. 17, 2021USD ($)	Feb. 28, 2022USD ($)	Mar. 31, 2022	Jun. 30, 2022
Line of Credit Facility [Line Items]
Borrowings under term loan credit agreements			$ 595
Repayment of term loan credit agreements	$ 34
Credit facility outstanding	$ 561
Debt instrument term			5 years
Debt Instrument, Description				Borrowings under the Credit Facility that are not term benchmark borrowings bear interest at a per annum rate equal to (a) the greatest of (i) the prime rate in effect on such day, (ii) the Federal Reserve Bank of New York rate in effect on such day plus 1⁄2 of 1% and (iii) the adjusted term SOFR for a one month interest period as published two U.S. government securities business days prior to such day (or if such day is not a business day, the immediately preceding business day) plus 1%, plus (b) an applicable margin, which may range from 0.50% to 0.75%, based on ZimVie's consolidated total net leverage ratio. As of March 31, 2022, the applicable margin was 1.75% for term benchmark borrowings and 0.75% for benchmark borrowings. Commitments under the Revolver are subject to a commitment fee on the unused portion of the Revolver of 25 basis points.
Year One and Two
Line of Credit Facility [Line Items]
Repayment percentage	2.50%
Year Three
Line of Credit Facility [Line Items]
Repayment percentage	5.00%
Year Four
Line of Credit Facility [Line Items]
Repayment percentage	10.00%
Maximum
Line of Credit Facility [Line Items]
Proceeds from revolving loans		$ 175
Borrowings under term loan credit agreements		$ 595
Borrowing interest Rate				1.75%
Debt instrument total net leverage ratio					6
Minimum
Line of Credit Facility [Line Items]
Borrowing interest Rate				1.50%
Debt instrument total net leverage ratio					1

Derivatives - Additional Inform

Derivatives - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative notional amount	$ 40
Derivative outstanding		$ 0	$ 0
Maximum [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange forward contracts term	3 months
Minimum [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange forward contracts term	1 month
Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Current derivative liabilities	$ 0.1
Prepaid Expenses And Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Current derivative assets	$ 0.1

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate on loss before income taxes	22.40%	324.70%
Statutory tax rate	21.00%
Deferred tax liability increase in amount related to distribution	$ 3.9

Segment Data - Summary of Net S

Segment Data - Summary of Net Sales and Other Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue, Major Customer [Line Items]
Net Sales	$ 235,601	$ 247,731
Operating income (loss)	(32,623)	325
Depreciation and amortization	32,554	32,972
Related party Transactions, net sales	919	1,791
Expenses related to Parent products	616	86
Profit or loss from related party transactions	(11,897)	(16,207)
Gain or loss from amortization of intangible assets	(20,905)	(21,883)
Depreciation and amortization of intangible assets	20,905	21,883
Profit or loss from restructuring	(742)	(482)
Income or loss from acquisition, integration, divestiture and related	(9,005)	(1,225)
Operating Income Loss, Other	(20,216)	597
Depreciation and amortization other	2,360	1,296
Spine
Revenue, Major Customer [Line Items]
Net Sales	114,113	132,588
Operating income (loss)	5,099	16,337
Depreciation and amortization	8,341	8,866
Dental
Revenue, Major Customer [Line Items]
Net Sales	120,569	113,352
Operating income (loss)	25,659	23,274
Depreciation and amortization	948	927
Segment Total
Revenue, Major Customer [Line Items]
Net Sales	234,682	245,940
Operating income (loss)	30,758	39,611
Depreciation and amortization	$ 9,289	$ 9,793

Related Party Transactions - Su

Related Party Transactions - Summary of Corporate Allocations Reflected in the Combined Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Selling, general & administrative	$ 134,112	$ 129,085
Zimmer Biomet [Member]
Cost of products sold	(78)	(88)
Selling, general & administrative	14,271	16,875
Acquisition, integration, divestiture and related	$ (357)	$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Share-based compensation expense		$ 13,472	$ 1,425
Borrowings under term loan credit agreements	$ 595,000
Related party cash after distribution		100,000
Cash and Cash Equivalents, at Carrying Value		104,259		$ 100,399
Zimmer Biomet [Member]
Share-based compensation expense		(1,042)	(1,425)
Borrowings under term loan credit agreements		595,000
Proceeds from Related Party Debt		561,000
Due to related parties		10,000
Due from Related Parties		79,000
Accounts Receivable and Inventory, Related Parties		10,000
Zimmer Biomet [Member] | Revision of Prior Period, Adjustment [Member]
Share-based compensation expense		$ 1,000	$ 1,400

Related Party Transactions - _2

Related Party Transactions - Summary of Sale Transactions with Related Party (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transaction [Line Items]
Related party net sales	$ 919	$ 1,791
Zimmer Biomet [Member]
Related Party Transaction [Line Items]
Related party net sales	919	1,791
Related party cost of products sold, excluding intangible asset amortization	$ 797	$ 1,211

Related Party Transactions - _3

Related Party Transactions - Summary of Net Parent Company Investment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net transactions with Zimmer Biomet reflected in the Combined Statements of Cash Flows	$ 6,920	$ 70
Share-based compensation expense	13,472	1,425
Zimmer Biomet [Member]
Cash pooling and general financing activities	(20,756)	(16,717)
Corporate cost allocations	13,836	16,787
Net transactions with Zimmer Biomet reflected in the Combined Statements of Cash Flows	6,920	70
Share-based compensation expense	(1,042)	(1,425)
Other non-cash adjustments	78,392	(62)
Net transactions with parent reflected in the Condensed Consolidated Statements of Stockholders' Equity	$ (70,430)	$ (1,417)

Related Party Trransactions - S

Related Party Trransactions - Summary of Corporate Allocations Reflected in the Condensed Consolidated Balance sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Related party receivable	$ 23,974	$ 0
Related party payables	26,261	0
Zimmer Biomet [Member]
Related party receivable	23,974	0
Related party payables	$ 26,261	$ 0