ZimVie (ZIMV) 10-Q 30 Oct 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 25, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Document Period End Date	Sep. 30, 2024
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	4555 Riverside Drive
Entity Address, City or Town	Palm Beach Gardens
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33410
City Area Code	800
Local Phone Number	342-5454
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ZIMV
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,598,871

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Sales
Total Net Sales	$ 103,222	$ 105,311	$ 338,228	$ 344,367
Cost of products sold, excluding intangible asset amortization	(35,820)	(36,907)	(123,596)	(124,246)
Related party cost of products sold, excluding intangible asset amortization	0	0	0	(231)
Intangible asset amortization	(6,037)	(6,778)	(18,059)	(20,378)
Research and development	(6,926)	(5,677)	(20,285)	(19,365)
Selling, general and administrative	(57,313)	(56,505)	(180,024)	(186,054)
Restructuring and other cost reduction initiatives	(687)	(1,391)	(3,664)	(3,929)
Acquisition, integration, divestiture and related	(1,276)	(1,936)	(6,934)	(4,647)
Operating Expenses	(108,059)	(109,194)	(352,562)	(358,850)
Operating Loss	(4,837)	(3,883)	(14,334)	(14,483)
Other income (expense), net	3,462	(990)	6,161	(1,189)
Interest income	2,466	569	4,938	1,929
Interest expense	(4,827)	(5,553)	(14,766)	(17,187)
Loss from continuing operations before income taxes	(3,736)	(9,857)	(18,001)	(30,930)
Benefit (provision) for income taxes from continuing operations	688	(325)	(6,161)	(1,555)
Net Loss from Continuing Operations of ZimVie Inc.	(3,048)	(10,182)	(24,162)	(32,485)
Earnings (loss) from discontinued operations, net of tax	764	5,093	10,103	(25,945)
Net Loss of ZimVie Inc.	$ (2,284)	$ (5,089)	$ (14,059)	$ (58,430)
Basic (Loss) Earnings Per Common Share:
Continuing operations	$ (0.11)	$ (0.38)	$ (0.88)	$ (1.23)
Discontinued operations	0.03	0.19	0.37	(0.98)
Net Loss	(0.08)	(0.19)	(0.51)	(2.21)
Diluted (Loss) Earnings Per Common Share:
Continuing operations	(0.11)	(0.38)	(0.88)	(1.23)
Discontinued operations	0.03	0.19	0.37	(0.98)
Net Loss	$ (0.08)	$ (0.19)	$ (0.51)	$ (2.21)
Third Party Net [Member]
Net Sales
Total Net Sales	$ 103,222	$ 105,311	$ 338,228	$ 344,131
Related Party Net [Member]
Net Sales
Total Net Sales	$ 0	$ 0	$ 0	$ 236

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Loss of ZimVie Inc.	$ (2,284)	$ (5,089)	$ (14,059)	$ (58,430)
Foreign currency cumulative translation adjustments, net of tax	11,559	(18,027)	460	(6,930)
Total Other Comprehensive Income (Loss)	11,559	(18,027)	460	(6,930)
Comprehensive Income (Loss)	$ 9,275	$ (23,116)	$ (13,599)	$ (65,360)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents		$ 66,808	$ 71,511
Accounts receivable, net of allowance for credit losses of $2,392 and $3,222, respectively		69,581	65,168
Inventories		77,087	79,600
Prepaid expenses and other current assets		24,162	23,825
Current assets of discontinued operations		28,036	242,773
Total Current Assets		265,674	482,877
Property, plant and equipment, net of accumulated depreciation of $131,717 and $126,624, respectively		49,614	54,167
Goodwill		262,767	262,111
Intangible assets, net	[1]	98,251	114,354
Note receivable		63,072	0
Other assets		31,271	26,747
Noncurrent assets of discontinued operations		12,299	265,089
Total Assets		782,948	1,205,345
Current Liabilities:
Accounts payable		27,403	27,785
Income taxes payable		2,440	2,863
Other current liabilities		58,363	67,108
Current liabilities of discontinued operations		48,432	75,858
Total Current Liabilities		136,638	173,614
Deferred income taxes		276	265
Lease liability		9,477	9,080
Other long-term liabilities		9,269	9,055
Non-current portion of debt		220,281	508,797
Noncurrent liabilities of discontinued operations		369	95,041
Total Liabilities		376,310	795,852
Commitments and Contingencies (Note 12)
Stockholders' Equity:
Common stock, $0.01 par value, 150,000 shares authorized Shares, issued and outstanding, of 27,587 and 27,076, respectively		276	271
Preferred stock, $0.01 par value, 15,000 shares authorized, 0 shares issued and outstanding		0	0
Additional paid in capital		933,735	922,996
Accumulated deficit		(454,873)	(440,814)
Accumulated other comprehensive loss		(72,500)	(72,960)
Total Stockholders' Equity		406,638	409,493
Total Liabilities and Stockholders' Equity		$ 782,948	$ 1,205,345
[1] (1) During the quarter ended September 30, 2024, we wrote off all fully amortized intangible assets that are no longer in use.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Equity, Attributable to Parent [Abstract]
Accounts receivable, net of allowance for credit loss, current	$ 2,392	$ 3,222
Property, plant and equipment, net of accumulated depreciation	$ 131,717	$ 126,624
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	27,587,000	27,076,000
Common stock, shares outstanding	27,587,000	27,076,000
Preferred stock, par or stated value per share	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2022	$ 758,604	$ 262	$ 897,028	$ (47,532)	$ (91,154)
Net loss	(58,430)	0	0	(58,430)	0
Stock plan activity	826	3	823	0	0
Share-based compensation expense	16,129	0	16,129	0	0
Other comprehensive (loss) income	(6,930)	0	0	0	(6,930)
Ending Balance at Sep. 30, 2023	710,199	265	913,980	(105,962)	(98,084)
Beginning Balance at Jun. 30, 2023	727,842	265	908,507	(100,873)	(80,057)
Net loss	(5,089)	0	0	(5,089)	0
Share-based compensation expense	5,473	0	5,473	0	0
Other comprehensive (loss) income	(18,027)	0	0	0	(18,027)
Ending Balance at Sep. 30, 2023	710,199	265	913,980	(105,962)	(98,084)
Beginning Balance at Dec. 31, 2023	409,493	271	922,996	(440,814)	(72,960)
Net loss	(14,059)	0	0	(14,059)	0
Stock plan activity	(1,729)	5	(1,734)	0	0
Share-based compensation expense	12,473	0	12,473	0	0
Other comprehensive (loss) income	460	0	0	0	460
Ending Balance at Sep. 30, 2024	406,638	276	933,735	(454,873)	(72,500)
Beginning Balance at Jun. 30, 2024	394,099	276	930,471	(452,589)	(84,059)
Net loss	(2,284)	0	0	(2,284)	0
Stock plan activity	(59)	0	(59)	0	0
Share-based compensation expense	3,323	0	3,323	0	0
Other comprehensive (loss) income	11,559	0	0	0	11,559
Ending Balance at Sep. 30, 2024	$ 406,638	$ 276	$ 933,735	$ (454,873)	$ (72,500)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows (used in) provided by operating activities:
Net Loss of ZimVie Inc.	$ (14,059)	$ (58,430)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	25,697	95,088
Share-based compensation	12,473	16,129
Deferred income tax provision	(4,201)	(11,967)
Loss on disposal of fixed assets	418	2,411
Other non-cash items	2,818	2,762
Gain on sale of spine disposal group (Note 2)	(22,427)	0
Changes in operating assets and liabilities
Income taxes	2,548	(34,061)
Accounts receivable	(5,742)	13,019
Related party receivable	0	8,483
Inventories	7,139	18,246
Prepaid expenses and other current assets	(2,447)	4,187
Accounts payable and accrued liabilities	(6,314)	(18,216)
Related party payable	0	(13,177)
Other assets and liabilities	(3,179)	(8,780)
Net cash (used in) provided by operating activities	(7,276)	15,694
Cash flows provided by (used in) investing activities:
Additions to instruments	(1,316)	(4,341)
Additions to other property, plant and equipment	(2,677)	(5,340)
Proceeds from sale of spine disposal group, net of cash disposed	291,123	0
Other investing activities	(1,961)	(2,762)
Net cash provided by (used in) investing activities	285,169	(12,443)
Cash flows used in financing activities:
Proceeds from debt	0	4,760
Payments on debt	(290,000)	(22,291)
Business combination contingent consideration payments	(3,712)	0
Payments related to tax withholding for share-based compensation	(1,729)	(419)
Proceeds from stock plan activity	0	1,167
Net cash used in financing activities	(295,441)	(16,783)
Effect of exchange rates on cash and cash equivalents	(2,124)	(620)
Decrease in cash and cash equivalents	(19,672)	(14,152)
Cash and cash equivalents, beginning of year	87,768	89,601
Cash and cash equivalents, end of period	68,096	75,449
Supplemental cash flow information:
Income taxes paid, net	5,232	19,090
Interest paid	19,080	26,198
Promissory note receivable issued in connection with the sale of spine disposal group	60,000	0
Interest received-in-kind	$ 3,072	$ 0

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Background, Nature of Business

Background, Nature of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2024
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 (the "Separation Agreement"), pursuant to which Zimmer Biomet agreed to spin off its spine and dental businesses into ZimVie . The distribution resulted in ZimVie becoming a standalone, publicly traded company. Following the distribution, Zimmer Biomet initially retained 19.7 % of the outstanding shares of ZimVie common stock, and all transactions between ZimVie and Zimmer Biomet from the distribution to February 1, 2023 were reported as related party transactions. As of February 1, 2023, Zimmer Biomet had sold all of its 19.7 % ownership in ZimVie and is no longer considered a related party. As such, transactions with Zimmer Biomet subsequent to February 1, 2023 are reported as third party transactions. See Note 17 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 ("Annual Report") for further description of the impact of the distribution and post-spin activities with Zimmer Biomet. On December 15, 2023, we entered into a definitive agreement to sell our spine segment to an affiliate of H.I.G. Capital (the "Buyer") for $ 375 million in total consideration, comprised of $ 315 million in cash, subject to certain customary adjustments as set forth in the agreement, and $ 60 million in the form of a promissory note that accrues interest at a rate of 10 % per annum, compounded semi-annually, and interest is payable in kind. On April 1, 2024, we completed the sale of our spine segment for a total purchase price of $ 377.2 million (inclusive of $ 2.2 million in preliminary closing adjustments), subject to certain customary adjustments as set forth in the agreement, and received proceeds of $ 311.8 million, excluding the promissory note and transaction costs , but including cash disposed of $ 26.1 million . See Notes 2 and 7 for additional discussion. Nature of Business ZimVie is a leading medical technology company dedicated to enhancing the quality of life for dental patients worldwide. We develop, manufacture and market a comprehensive portfolio of products and solutions designed to support dental tooth replacement and restoration procedures. We are well-positioned in the growing global dental implant, biomaterials and digital dentistry market with a strong presence in the tooth replacement market with market leading positions in certain geographies. Prior to the closing of the sale of our spine segment, o ur operations were principally managed on a products basis and included two operating segments, 1) the dental products segment, and 2) the spine products segment. Since the sale of our spine segment, our core services include designing, manufacturing and distributing dental implant systems. 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. Prior to the sale of our spine segment, the core services of our spine segment included 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 provided devices that promote bone healing. Other differentiated products in our spine portfolio included Mobi-C® Cervical Disc, a motion-preserving alternative to fusion for patients with cervical disc disease, and The Tether™, a novel non-fusion device for treatment of pediatric scoliosis. Basis of Presentation The accompanying condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023, the condensed consolidated statements of operations, condensed consolidated statements of comprehensive income (loss), condensed consolidated statements of shareholders' equity for the three and nine months ended September 30, 2024 and 2023, and the condensed consolidated statements of cash flows for the nine months ended September 30, 2024 and 2023, of ZimVie are unaudited. In management’s opinion, all adjustments comprising normal recurring adjustments necessary for the fair statement of such condensed consolidated financial statements have been made. The accompanying condensed consolidated financial statements and notes in this Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 ("Quarterly Report") are presented as permitted by Regulation S-X and do not contain certain information included in our annual financial statements and notes thereto. Accordingly, the accompanying condensed consolidated financial information should be read in conjunction with the audited consolidated financial statements presented in our Annual Report . During the three months ended March 31, 2024, we recorded out of period adjustments that increased the Loss from continuing operations before income taxes and reduced Earnings from discontinued operations, net of tax, by $ 1.8 million and $ 0.7 million, respective ly. We have concluded these out of period adjustments did not have a material impact on our interim condensed consolidated financial statements for the three months ended March 31, 2024 or nine months ended September 30, 2024, nor were they material to previously issued interim and annual consolidated financial statements. Restricted Cash - As of both September 30, 2024 and December 31, 2023, we had $ 1.5 million in restricted cash. The restriction as of September 30, 2024 and December 31, 2023 is on cash held in China as a result of ongoing litigation with a spine products distributor in China related to our decision to exit our spine products business in China. Sale of Spine Segment The historical results of our spine segment have been reflected as discontinued operations in our condensed consolidated financial statements as the sale represented a strategic shift in our business that had a major effect on operations and financial results. The assets and liabilities associated with this segment are classified as assets and liabilities of discontinued operations in the condensed consolidated balance sheets. The disclosures presented in the notes to the condensed consolidated financial statements are presented on a continuing operations basis, unless otherwise noted. Accounting Pronouncements Recently Issued In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative . This ASU amends the interim and annual disclosure requirements related to a variety of subtopics in the Accounting Standards Codification, including those focusing on accounting changes, earnings per share, debt and repurchase agreements. The guidance will be applied prospectively. The effective date for each amendment will be the date when the SEC's removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. We are currently evaluating the effect of this ASU, but we do not expect it will have a material impact on our condensed consolidated financial statements or disclosures. In November 2023, FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The key amendments require disclosure of significant segment expenses on an annual and interim basis that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss, including other segment items by reportable segment and a description of their composition, and to provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by FASB Topic 280, Segment Reporting, in interim periods as well. This ASU includes certain clarifications for measuring a segment's profit or loss in assessment by the CODM, disclosure of title and position of the CODM and an explanation of how the CODM uses the reported measures in assessing segment performance and deciding how to allocate resources. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We do not expect the adoption of this ASU to affect our financial position or our results of operations, but expect it will result in additional disclosures. In December 2023, FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments included in the ASU related to rate reconciliation, income taxes paid disclosures and other disclosures requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The amendments in this update are effective for annual periods beginning after December 15, 2024. We are currently in the process of evaluating the effect of this ASU. In March 2024, the SEC adopted final rules requiring public entities to provide certain climate-related information in their registration statements and annual reports. As part of the disclosures, entities will be required to quantify certain effects of severe weather events and other natural conditions in a note to their consolidated financial statements. While the SEC voluntarily stayed the rules due to pending judicial review, the rules in their current form would be effective for accelerated filers for annual periods beginning after December 15, 2025. We are currently in the process of evaluating the effect of these final rules. Other recently issued ASUs, excluding ASUs discussed above, were assessed and determined to be not applicable, or are not expected to have a material impact on our condensed consolidated financial statements or disclosures.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	2. Discontinued Operations As discussed in Note 1, on December 15, 2023, we entered into a definitive agreement to sell our spine segment. The historical financial condition and results of operations of our spine segment have been reflected as discontinued operations in our condensed consolidated financial statements. The assets and liabilities associated with this segment are classified as assets and liabilities of discontinued operations in the condensed consolidated balance sheets. On April 1, 2024, we completed the sale of our spine segment for a total purchase price of $ 377.2 million (inclusive of $ 2.2 million in preliminary closing adjustments), subject to certain customary adjustments as set forth in the agreement, and received proceeds of $ 311.8 million, excluding the promissory note and transaction costs, but including cash disposed of $ 26.1 million. We recognized a gain on the sale of $ 11.3 million, which is included in Earnings (loss) from discontinued operations and primarily related to transaction costs incurred related to the sale. In accordance with the terms of the agreement, the closing adjustments were finalized with the Buyer in October 2024, resulting in an immaterial adjustment to the purchase price. The transfer of spine business activities in certain jurisdictions ("Deferred Transfer Locations") is deferred until the Buyer has met various legal and regulatory requirements in those jurisdictions. Until such transfer, we continue to control and operate these Deferred Transfer Locations and therefore we continue to consolidate the assets and liabilities and results of operations within discontinued operations in the condensed consolidated balance sheets and statements of operations. Details of the assets and liabilities and results of operations not transferred to the Buyer as of September 30, 2024 are included below. Net profit or loss of the Deferred Transfer Locations are transferred to the Buyer on a monthly basis. The net profit or loss to be transferred to the Buyer is included in Other expense, net within discontinued operations. We currently expect the Deferred Transfer Locations to be transferred within one year of the closing date of the sale. During the three and nine months ended September 30, 2024, one Deferred Transfer Location with an immaterial net asset balance was transferred to the Buyer, and two additional Deferred Transfer Locations with immaterial net asset balances were transferred to the Buyer in October 2024. In conjunction with the sale of our spine segment, we entered into a Transition Services Agreement ("TSA") to provide certain support services for up to 12 months from the closing date of the sale. These services include, among others, accounting, information technology, human resources, quality assurance, regulatory affairs and customer support. Income recognized related to the TSA is recorded as Other income in our condensed consolidated statements of operations. Details of earnings (loss) from discontinued operations included in our condensed consolidated statements of operations are as follows (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Net Sales Third party, net $ 13,244 $ 97,561 $ 121,642 $ 308,725 Related party, net — — — 103 Total Net Sales 13,244 97,561 121,642 308,828 Cost of products sold, excluding intangible asset amortization ( 5,866 ) ( 28,341 ) ( 40,360 ) ( 86,220 ) Related party cost of products sold, excluding intangible asset amortization — — — ( 97 ) Intangible asset amortization — ( 13,837 ) — ( 41,409 ) Research and development ( 295 ) ( 5,780 ) ( 7,306 ) ( 20,697 ) Selling, general and administrative ( 7,009 ) ( 60,849 ) ( 69,227 ) ( 187,748 ) Restructuring and other cost reduction initiatives 228 ( 1,041 ) ( 1,666 ) ( 11,922 ) Acquisition, integration, divestiture and related — ( 9 ) ( 11,770 ) ( 377 ) Other (expense) income, net ( 123 ) 925 ( 768 ) 817 Interest income (expense), net (1) 37 ( 4,224 ) ( 6,245 ) ( 11,922 ) Earnings (loss) from discontinued operations before income taxes 216 ( 15,595 ) ( 15,700 ) ( 50,746 ) Adjustment of spine disposal group to fair value (2) — — 11,143 — Gain on sale of spine disposal group — — 11,284 — Benefit for income taxes from discontinued operations 548 20,688 3,376 24,801 Earnings (loss) from discontinued operations, net of tax $ 764 $ 5,093 $ 10,103 $ ( 25,945 ) (1) A portion of the interest on our Term Loan (as defined and described in Note 8) has been allocated to discontinued operations consistent with the amount of proceeds used to repay a portion of the amounts outstanding under our Term Loan in accordance with our Credit Agreement (as defined and described in Note 8). (2) We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets, resulting in a write-down of $ 289.5 million. We updated our analysis as of March 31, 2024, immediately prior to the sale, which resulted in a reduction of the December 2023 write-down of $ 11.1 million. Details of assets and liabilities of discontinued operations are as follows (in thousands): As of September 30, 2024 December 31, 2023 Cash and cash equivalents $ 1,288 $ 16,257 Accounts receivable, less allowance for credit losses 13,554 83,871 Inventories 13,123 130,430 Prepaid expenses and other current assets 71 12,215 Total Current Assets of Discontinued Operations 28,036 242,773 Property, plant and equipment, net 11,153 62,692 Intangible assets, net — 477,110 Other assets 1,146 14,743 Total Noncurrent Assets of Discontinued Operations 12,299 554,545 Accounts payable 1,416 24,186 Income taxes payable 49 410 Other current liabilities (1) 46,967 51,262 Total Current Liabilities of Discontinued Operations 48,432 75,858 Deferred income taxes — 86,037 Lease liability 258 8,032 Other long-term liabilities 111 972 Total Noncurrent Liabilities of Discontinued Operations 369 95,041 Adjustment of spine disposal group to fair value (2) — ( 289,456 ) (1) Includes our non-cash liability of $ 40.5 million as of September 30, 2024 to transfer the net assets of the Deferred Transfer Locations to the Buyer. (2) This adjustment is reflected in Noncurrent assets of discontinued operations in the condensed consolidated balance sheets. Cash flows attributable to discontinued operations are included on our condensed consolidated statements of cash flows. Significant non-cash operating and investing activities attributable to discontinued operations consisted of the following (in thousands): For the Nine Months Ended September 30, 2024 2023 Depreciation and amortization $ 27 $ 68,738 Share-based compensation 712 1,969 Gain on sale of spine disposal group ( 22,427 ) — Additions to instruments 1,316 4,341 Additions to other property, plant and equipment 88 447

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	3. Goodwill and Other Intangible Assets The following table summarizes the changes in the carrying amount of goodwill (in thousands): Total Balance at December 31, 2023 Goodwill, Gross $ 404,111 Accumulated impairment losses ( 142,000 ) Goodwill, Net 262,111 Currency translation 656 Balance at September 30, 2024 Goodwill, Gross 404,767 Accumulated impairment losses ( 142,000 ) Goodwill, Net $ 262,767 The components of identifiable intangible assets were as follows (in thousands): Technology Trademarks Customer Relationships Other Total (1) As of December 31, 2023: Intangible assets subject to amortization: Gross carrying amount $ 168,841 $ 37,056 $ 143,565 $ 47,670 $ 397,132 Accumulated amortization ( 113,354 ) ( 23,393 ) ( 98,361 ) ( 47,670 ) ( 282,778 ) Total identifiable intangible assets $ 55,487 $ 13,663 $ 45,204 $ — $ 114,354 As of September 30, 2024: Intangible assets subject to amortization: Gross carrying amount $ 126,478 $ 34,955 $ 142,271 $ 2,032 $ 305,736 Accumulated amortization ( 77,462 ) ( 23,418 ) ( 105,073 ) ( 1,532 ) ( 207,485 ) Total identifiable intangible assets $ 49,016 $ 11,537 $ 37,198 $ 500 $ 98,251 (1) During the quarter ended September 30, 2024, we wrote off all fully amortized intangible assets that are no longer in use. Estimated annual amortization expense for the years ending December 31, 2024 through 2028 based on exchange rates in effect at December 31, 2023 is as follows (in millions): For the Years Ending December 31, 2024 (remaining) $ 6.1 2025 22.2 2026 22.2 2027 16.9 2028 11.8

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	4. Share-Based Compensation Conversion Awards At the time of separation, Zimmer Biomet had 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 share-based awards received replacement share-based awards. The ratio used to convert the Zimmer Biomet share-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 incurred $ 21.3 million of incremental share-based compensation expense. Of this amount, $ 10.3 million was related to unvested and/or unexercised share-based awards and was recognized at the distribution date. The remaining $ 11.0 million is being recognized over the remainder of the share-based awards' weighted average vesting period of 2.5 years from the date of the distribution. ZimVie Awards The ZimVie Inc. 2022 Stock Incentive Plan was established effective as of March 1, 2022, and was amended effective May 12, 2023 (as amended, the "2022 Plan"). A total of 6.0 million shares of common stock are authorized for issuance under the 2022 Plan. Shares issued pursuant to converted Zimmer Biomet share-based awards do not count against this limit. At September 30, 2024, 3.7 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 and 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. Additionally, in cases of special circumstances as determined by the Compensation Committee of the Board of Directors, the Compensation Committee may, in its sole discretion, accelerate vesting. 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. Share-based compensation expense was as follows (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Share-based compensation expense recognized in: Cost of products sold, excluding intangible asset amortization $ 104 $ 278 $ 450 $ 846 Research and development 182 334 1,017 1,139 Selling, general and administrative 3,037 4,861 11,006 14,144 3,323 5,473 12,473 16,129 Tax benefit related to awards ( 831 ) ( 1,374 ) ( 3,143 ) ( 4,053 ) Total expense, net of tax $ 2,492 $ 4,099 $ 9,330 $ 12,076 Share-based compensation expense related to discontinued operations is included in the table above and is disclosed in Note 2. Stock option activity was as follows: For the Nine Months Ended September 30, 2024 Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Stock Options Price Life (Years) Value (in Millions) Outstanding at December 31, 2023 2,303,143 $ 26.83 Exercised ( 1,117 ) 18.58 Forfeited ( 572,188 ) 26.11 Outstanding at September 30, 2024 1,729,838 $ 27.08 5.5 $ — Exercisable at September 30, 2024 1,438,875 $ 26.88 5.2 $ — We used a Black-Scholes option-pricing model to determine the fair value of our stock options. For awards granted shortly 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 did 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 then available for zero-coupon United States ("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. Aggregate intrinsic value was negligible at September 30, 2024. At September 30, 2024, we had unrecognized share-based compensation cost related to unvested stock options of $ 1.9 million , which is expected to be amortized over the remaining weighted average vesting period of less than one year . RSU activity was as follows: For the Nine Months Ended September 30, 2024 Weighted Average Number of Grant Date RSUs Fair Value Outstanding at December 31, 2023 1,942,210 $ 15.13 Granted 797,869 17.52 Vested ( 553,903 ) 20.12 Forfeited ( 435,226 ) 13.29 Outstanding at September 30, 2024 1,750,950 $ 15.78 R SUs with performance-based vesting provisions ("PRSUs") declined to zero at September 30, 2024. In September 2024, the Compensation Committee of the Board of Directors approved a modification of all 289,310 outstanding PRSUs. Prior to the modification, the PRSUs could have vested from 0 - 150 % of target based on the level of cumulative achievement of pre-defined performance metrics based on the consolidated results of the dental and spine segments. The PRSUs were payable in common shares and did not have the right to vote until settled. Compensation expense related to the PRSUs was being recognized over a 36-month cliff vesting period, and adjusted as needed for changes in the projected level of achievement of the performance metrics. During the quarter ended September 30, 2024, the Compensation Committee approved a conversion of all outstanding PRSUs into time-based RSUs on a one-for-one basis. The converted awards will cliff-vest on the award's original vesting date. For PRSUs outstanding prior to the conversion that were expected to vest, we determined that there was no change in their fair value immediately after the conversion. For PRSUs outstanding prior to the conversion that were not expected to vest, the fair value of the awards immediately after the conversion increased due to becoming probable of vesting, resulting in $ 1.2 million of incremental compensation expense that will be recognized over the remaining vesting period of approximately 1.7 years. At September 30, 2024, we had unrecognized share-based compensation cost related to unvested RSUs of $ 15.7 million , which is expected to be amortized into earnings over the remaining weighted average vesting period of approximately 1.1 years. The total fair value of RSUs granted during the nine months ended September 30, 2024 and 2023 was $ 14.0 million and $ 15.8 million , respectively. The total fair value of RSUs that vested during the nine months ended September 30, 2024 and 2023 was $ 11.1 million and $ 6.4 million, respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	5. Earnings Per Share The calculation of weighted average shares for basic and diluted net loss per common share is as follows (in thousands, except per share data): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Net Loss from Continuing Operations of ZimVie Inc. $ ( 3,048 ) $ ( 10,182 ) $ ( 24,162 ) $ ( 32,485 ) Earnings (loss) from discontinued operations, net of tax 764 5,093 10,103 ( 25,945 ) Net Loss of ZimVie Inc. $ ( 2,284 ) $ ( 5,089 ) $ ( 14,059 ) $ ( 58,430 ) Weighted average shares outstanding for basic net loss per common share 27,574 26,530 27,369 26,406 Effect of dilutive stock options and other equity awards (1) — — — — Weighted average shares outstanding for diluted net loss per common share 27,574 26,530 27,369 26,406 Basic (Loss) Earnings Per Common Share: Continuing operations $ ( 0.11 ) $ ( 0.38 ) $ ( 0.88 ) $ ( 1.23 ) Discontinued operations 0.03 0.19 0.37 ( 0.98 ) Net Loss $ ( 0.08 ) $ ( 0.19 ) $ ( 0.51 ) $ ( 2.21 ) Diluted (Loss) Earnings Per Common Share: Continuing operations $ ( 0.11 ) $ ( 0.38 ) $ ( 0.88 ) $ ( 1.23 ) Discontinued operations 0.03 0.19 0.37 ( 0.98 ) Net Loss $ ( 0.08 ) $ ( 0.19 ) $ ( 0.51 ) $ ( 2.21 ) (1) Since we incurred a net loss in each of the three months ended September 30, 2024 and 2023 and the nine months ended September 30, 2024 and 2023, no dilutive stock options or other equity awards were included as diluted shares in those periods. For the three months ended September 30, 2024 and 2023 , a weighted average of 1.8 million and 3.2 million, respectively, and for the nine months ended September 30, 2024 and 2023, a weighted average of 2.1 million and 3.3 million, respectively, options to purchase shares of common stock were not included in the computation of diluted net loss per share as the exercise prices of these options were greater than the average market price of the common stock.

Balance Sheet Details

Balance Sheet Details	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Details	6. Balance Sheet Details Inventories consisted of the following (in thousands): September 30, 2024 December 31, 2023 Finished goods $ 50,592 $ 54,456 Work-in-progress 22,360 20,659 Raw materials 4,135 4,485 Inventories $ 77,087 $ 79,600 Amounts related to cost of products sold in the condensed consolidated statements of operations for excess and obsolete inventory were $ 0.5 million and $ 0.6 million in the three months ended September 30, 2024 and 2023, respectively, and were $ 1.6 million and $ 1.5 million in the nine months ended September 30, 2024 and 2023, respectively. Other current liabilities consisted of the following (in thousands): September 30, 2024 December 31, 2023 Other current liabilities: Salaries, wages and benefits $ 25,307 $ 23,171 Lease liabilities 4,438 4,053 Other liabilities 28,618 39,884 Total other current liabilities $ 58,363 $ 67,108

Fair Value Measurements of Asse

Fair Value Measurements of Assets and Liabilities	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements of Assets and Liabilities	7. Fair Value Measurements of Assets and Liabilities The fair value of foreign currency exchange forward contracts (see Note 9) is determined using Level 2 inputs. The carrying value of our debt (see Note 8) 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 September 30, 2024 and December 31, 2023 due to their short-term nature. As discussed in Notes 1 and 2, on April 1, 2024, we completed the sale of the spine segment. A portion of the consideration was in the form of a $ 60.0 million promissory note that accrues interest at a rate of 10 % per annum, compounded semi-annually and interest is payable in kind. The note matures on October 1, 2029, contains change of control provisions and allows for optional prepayment at any time. Including consideration of paid-in-kind interest, the fair value of the note was $ 63.1 million as of September 30, 2024, which was determined using a discounted cash flow analysis, where contractual cash flows were discounted to present value at a risk-adjusted rate of return. The fair value of the note is determined each period by applying the same approach, considering changes to the risk-adjusted rate of return given observed changes to the interest rate environment, market pricing of credit risk and issuer-specific credit risk. 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. 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, 2023 $ 9,799 Settlements ( 5,213 ) Balance September 30, 2024 $ 4,586

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	8. Debt Our debt consisted of the following (in thousands): September 30, 2024 December 31, 2023 Term loan $ 221,913 $ 511,912 Debt issuance costs ( 1,632 ) ( 3,115 ) Total debt 220,281 508,797 Less: current portion — — Total debt due after one year $ 220,281 $ 508,797 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 (the “Term Loan” and, together with the Revolver, the “Credit Facility”). As of September 30, 2024, $ 221.9 million was outstanding on the Term Loan, and there were no outstanding borrowings under the Revolver. On April 1, 2024, we prepaid $ 275.0 million on the Term Loan using proceeds from the sale of our spine segment (as discussed in Notes 1 and 2), and we wrote off $ 0.9 million of debt issuance costs. As a result of this prepayment, we have no more scheduled quarterly amortization payments on the Term Loan, and the remaining balance is due at maturity on February 28, 2027. On September 30, 2024, we made an optional prepayment on the Term Loan of $ 15.0 million. As of September 30, 2024, our interest rate was the secured overnight financing rate plus the applicable margin of 1.50 % for term 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 a maximum consolidated total net leverage ratio of 6.00 to 1.00 . We were in compliance with all covenants as of September 30, 2024. See Note 9 to our consolidated financial statements included in our Annual Report for additional information on our Credit Agreement. In April 2023, we financed $ 4.8 million of our corporate insurance premium, all of which was repaid by June 30, 2023.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2024
Derivatives [Abstract]
Derivatives	9. Derivatives We enter into foreign currency exchange forward contracts with terms of one to three months in order to manage currency exposures related to monetary assets and liabilities denominated in a currency other than an entity’s functional currency. Any foreign currency remeasurement 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. Outstanding contracts are recorded in our condensed consolidated balance sheets at fair value as of the end of the reporting period. The aggregate notional amounts of these contracts wer e $ 20.7 million as of September 30, 2024 a nd $ 25.0 million as of December 31, 2023. Current derivative assets of $ 0.1 million and $ 0.4 million as of September 30, 2024 and December 31, 2023 , respectively, were included in Prepaid expenses and other current assets on our condensed consolidated balance sheets. Current derivative liabilities of $ 0 and $ 0.2 million as of September 30, 2024 and December 31, 2023, respectively, were included in Other current liabilities in our condensed consolidated balance sheets. Gains from these derivative instruments recognized in our condensed consolidated statements of operations in Other income (expense) , net were $ 0.9 million and $ 0.6 million for the three months ended September 30, 2024 and 2023 , respectively, and were $ 0.5 million and $ 0.2 million for the nine months ended September 30, 2024 and 2023 , respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxe s Our effective tax rate (“ETR”) on loss before income taxes was 18.4 % and ( 3.3 %) for the three months ended September 30, 2024 and 2023 , respectively, and ( 34.2 %) and ( 5.0 %) for the nine months ended September 30, 2024 and 2023, respectively. In the three and nine months ended September 30, 2024 and 2023 , the income tax rate was lower than the 21.0 % statutory rate due to our mix of earnings and losses across jurisdictions and losses not benefited as a result of valuation allowances.

Segment Data

Segment Data	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Data	11. Segment Data Our Chief Executive Officer is our Chief Operating Decision Maker. He allocates resources to achieve our operating profit goals and historically reviewed business performance through two operating segments, 1) the dental segment, and 2) the spine segment, which also represented our reportable segments. As discussed in Notes 1 and 2, the spine segment is presented as discontinued operations and is not required to be presented in the segment disclosures. Following the sale of our spine segment on April 1, 2024, we operate as a single segment. We conduct business in the following countries that hold 10% or more of our total combined property, plant and equipment, net (in thousands): As of September 30, 2024 December 31, 2023 U.S. $ 31,652 $ 35,444 Spain 14,358 14,431 Other countries 3,604 4,292 Property, plant and equipment, net $ 49,614 $ 54,167 U.S. and foreign sales (based on the location of the customer) are as follows (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 U.S. $ 65,350 $ 65,003 $ 202,414 $ 204,173 Spain 9,089 10,453 37,257 39,072 Other countries 28,783 29,855 98,557 100,886 Third party sales $ 103,222 $ 105,311 $ 338,228 $ 344,131 Sales within any other individual country were less than 10 % of our combined sales in each of those periods. No single customer accounted for 10% or more of our sales in the three and nine months ended September 30, 2024 and 2023 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. 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 $ 1.3 million and $ 2.6 million as of September 30, 2024 and December 31, 2023, respectively. The decline in the balance was primarily due to loss contingencies that were transferred as part of the sale of the spine segment on April 1, 2024 discussed in Notes 1 and 2. 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.

Restructuring and Other Cost Re

Restructuring and Other Cost Reduction Initiatives	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Cost Reduction Initiatives	13. Restructuring and Other Cost Reduction Initiatives In January 2024, we initiated restructuring activities to better structure the organization to support our dental segment after the disposal of the spine segment. During the three and nine months ended September 30, 2024 , we recorded pre-tax charges of $ 0.7 million and $ 3.5 million, respectively, related to these activities. The restructuring charges incurred under this plan were primarily related to employee termination benefits. We anticipate total charges of approximately $ 4 to $ 5 million related to this plan. In April and July 2023, we initiated restructuring activities to better position our organization for future success based on the then-current business environment. These activities had the objective of reducing our global cost structure and streamlining our organizational infrastructure across all regions, functions and levels. During the three and nine months ended September 30, 2024, the charges recorded under this plan were negligible. During the three and nine months ended September 30, 2023, the pre-tax charges recorded under this plan were $ 1.3 million and $ 3.8 million , respectively, primarily related to employee termination fees and professional fees. We have incurred pre-tax charges of $ 4.1 million from inception through September 30, 2024, and we do not expect to incur future charges under this plan. In June 2022, we initiated a restructuring plan with the objective of reducing costs and optimizing our global footprint. During the three and nine months ended September 30, 2024 , the pre-tax charges recorded under this plan were negligible and $ 0.2 million, respectively, primarily related to employee termination benefits. During the three and nine months ended September 30, 2023 , actions under this plan resulted in pre-tax charges that were negligible. We have incurred pre-tax charges of $ 3.0 million from inception through September 30, 2024, and we do not expect to incur future charges under this plan. The following table summarizes the liabilities directly attributable to us that were recognized under the plans discussed above and excludes non-cash charges (in thousands): Nine Months Ended September 30, Employee Other Total Balance, December 31, 2023 $ 947 $ — $ 947 Additions 3,518 161 3,679 Cash payments ( 3,703 ) ( 118 ) ( 3,821 ) Balance, September 30, 2024 $ 762 $ 43 $ 805

Background, Nature of Busines_2

Background, Nature of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Nature of Business	Nature of Business ZimVie is a leading medical technology company dedicated to enhancing the quality of life for dental patients worldwide. We develop, manufacture and market a comprehensive portfolio of products and solutions designed to support dental tooth replacement and restoration procedures. We are well-positioned in the growing global dental implant, biomaterials and digital dentistry market with a strong presence in the tooth replacement market with market leading positions in certain geographies. Prior to the closing of the sale of our spine segment, o ur operations were principally managed on a products basis and included two operating segments, 1) the dental products segment, and 2) the spine products segment. Since the sale of our spine segment, our core services include designing, manufacturing and distributing dental implant systems. 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. Prior to the sale of our spine segment, the core services of our spine segment included 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 provided devices that promote bone healing. Other differentiated products in our spine portfolio included Mobi-C® Cervical Disc, a motion-preserving alternative to fusion for patients with cervical disc disease, and The Tether™, a novel non-fusion device for treatment of pediatric scoliosis.
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023, the condensed consolidated statements of operations, condensed consolidated statements of comprehensive income (loss), condensed consolidated statements of shareholders' equity for the three and nine months ended September 30, 2024 and 2023, and the condensed consolidated statements of cash flows for the nine months ended September 30, 2024 and 2023, of ZimVie are unaudited. In management’s opinion, all adjustments comprising normal recurring adjustments necessary for the fair statement of such condensed consolidated financial statements have been made. The accompanying condensed consolidated financial statements and notes in this Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 ("Quarterly Report") are presented as permitted by Regulation S-X and do not contain certain information included in our annual financial statements and notes thereto. Accordingly, the accompanying condensed consolidated financial information should be read in conjunction with the audited consolidated financial statements presented in our Annual Report . During the three months ended March 31, 2024, we recorded out of period adjustments that increased the Loss from continuing operations before income taxes and reduced Earnings from discontinued operations, net of tax, by $ 1.8 million and $ 0.7 million, respective ly. We have concluded these out of period adjustments did not have a material impact on our interim condensed consolidated financial statements for the three months ended March 31, 2024 or nine months ended September 30, 2024, nor were they material to previously issued interim and annual consolidated financial statements. Restricted Cash - As of both September 30, 2024 and December 31, 2023, we had $ 1.5 million in restricted cash. The restriction as of September 30, 2024 and December 31, 2023 is on cash held in China as a result of ongoing litigation with a spine products distributor in China related to our decision to exit our spine products business in China. Sale of Spine Segment The historical results of our spine segment have been reflected as discontinued operations in our condensed consolidated financial statements as the sale represented a strategic shift in our business that had a major effect on operations and financial results. The assets and liabilities associated with this segment are classified as assets and liabilities of discontinued operations in the condensed consolidated balance sheets. The disclosures presented in the notes to the condensed consolidated financial statements are presented on a continuing operations basis, unless otherwise noted.
Accounting Pronouncements Recently Issued	Accounting Pronouncements Recently Issued In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative . This ASU amends the interim and annual disclosure requirements related to a variety of subtopics in the Accounting Standards Codification, including those focusing on accounting changes, earnings per share, debt and repurchase agreements. The guidance will be applied prospectively. The effective date for each amendment will be the date when the SEC's removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. We are currently evaluating the effect of this ASU, but we do not expect it will have a material impact on our condensed consolidated financial statements or disclosures. In November 2023, FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The key amendments require disclosure of significant segment expenses on an annual and interim basis that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss, including other segment items by reportable segment and a description of their composition, and to provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by FASB Topic 280, Segment Reporting, in interim periods as well. This ASU includes certain clarifications for measuring a segment's profit or loss in assessment by the CODM, disclosure of title and position of the CODM and an explanation of how the CODM uses the reported measures in assessing segment performance and deciding how to allocate resources. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We do not expect the adoption of this ASU to affect our financial position or our results of operations, but expect it will result in additional disclosures. In December 2023, FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments included in the ASU related to rate reconciliation, income taxes paid disclosures and other disclosures requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The amendments in this update are effective for annual periods beginning after December 15, 2024. We are currently in the process of evaluating the effect of this ASU. In March 2024, the SEC adopted final rules requiring public entities to provide certain climate-related information in their registration statements and annual reports. As part of the disclosures, entities will be required to quantify certain effects of severe weather events and other natural conditions in a note to their consolidated financial statements. While the SEC voluntarily stayed the rules due to pending judicial review, the rules in their current form would be effective for accelerated filers for annual periods beginning after December 15, 2025. We are currently in the process of evaluating the effect of these final rules. Other recently issued ASUs, excluding ASUs discussed above, were assessed and determined to be not applicable, or are not expected to have a material impact on our condensed consolidated financial statements or disclosures.

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Summary of Details of Earnings (Loss), Asset and Liabilities, Significant Non-Cash Operating Activities and Capital Expenditures from Discontinued Operations	Details of earnings (loss) from discontinued operations included in our condensed consolidated statements of operations are as follows (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Net Sales Third party, net $ 13,244 $ 97,561 $ 121,642 $ 308,725 Related party, net — — — 103 Total Net Sales 13,244 97,561 121,642 308,828 Cost of products sold, excluding intangible asset amortization ( 5,866 ) ( 28,341 ) ( 40,360 ) ( 86,220 ) Related party cost of products sold, excluding intangible asset amortization — — — ( 97 ) Intangible asset amortization — ( 13,837 ) — ( 41,409 ) Research and development ( 295 ) ( 5,780 ) ( 7,306 ) ( 20,697 ) Selling, general and administrative ( 7,009 ) ( 60,849 ) ( 69,227 ) ( 187,748 ) Restructuring and other cost reduction initiatives 228 ( 1,041 ) ( 1,666 ) ( 11,922 ) Acquisition, integration, divestiture and related — ( 9 ) ( 11,770 ) ( 377 ) Other (expense) income, net ( 123 ) 925 ( 768 ) 817 Interest income (expense), net (1) 37 ( 4,224 ) ( 6,245 ) ( 11,922 ) Earnings (loss) from discontinued operations before income taxes 216 ( 15,595 ) ( 15,700 ) ( 50,746 ) Adjustment of spine disposal group to fair value (2) — — 11,143 — Gain on sale of spine disposal group — — 11,284 — Benefit for income taxes from discontinued operations 548 20,688 3,376 24,801 Earnings (loss) from discontinued operations, net of tax $ 764 $ 5,093 $ 10,103 $ ( 25,945 ) (1) A portion of the interest on our Term Loan (as defined and described in Note 8) has been allocated to discontinued operations consistent with the amount of proceeds used to repay a portion of the amounts outstanding under our Term Loan in accordance with our Credit Agreement (as defined and described in Note 8). (2) We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets, resulting in a write-down of $ 289.5 million. We updated our analysis as of March 31, 2024, immediately prior to the sale, which resulted in a reduction of the December 2023 write-down of $ 11.1 million. Details of assets and liabilities of discontinued operations are as follows (in thousands): As of September 30, 2024 December 31, 2023 Cash and cash equivalents $ 1,288 $ 16,257 Accounts receivable, less allowance for credit losses 13,554 83,871 Inventories 13,123 130,430 Prepaid expenses and other current assets 71 12,215 Total Current Assets of Discontinued Operations 28,036 242,773 Property, plant and equipment, net 11,153 62,692 Intangible assets, net — 477,110 Other assets 1,146 14,743 Total Noncurrent Assets of Discontinued Operations 12,299 554,545 Accounts payable 1,416 24,186 Income taxes payable 49 410 Other current liabilities (1) 46,967 51,262 Total Current Liabilities of Discontinued Operations 48,432 75,858 Deferred income taxes — 86,037 Lease liability 258 8,032 Other long-term liabilities 111 972 Total Noncurrent Liabilities of Discontinued Operations 369 95,041 Adjustment of spine disposal group to fair value (2) — ( 289,456 ) (1) Includes our non-cash liability of $ 40.5 million as of September 30, 2024 to transfer the net assets of the Deferred Transfer Locations to the Buyer. (2) This adjustment is reflected in Noncurrent assets of discontinued operations in the condensed consolidated balance sheets. Cash flows attributable to discontinued operations are included on our condensed consolidated statements of cash flows. Significant non-cash operating and investing activities attributable to discontinued operations consisted of the following (in thousands): For the Nine Months Ended September 30, 2024 2023 Depreciation and amortization $ 27 $ 68,738 Share-based compensation 712 1,969 Gain on sale of spine disposal group ( 22,427 ) — Additions to instruments 1,316 4,341 Additions to other property, plant and equipment 88 447

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
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 (in thousands): Total Balance at December 31, 2023 Goodwill, Gross $ 404,111 Accumulated impairment losses ( 142,000 ) Goodwill, Net 262,111 Currency translation 656 Balance at September 30, 2024 Goodwill, Gross 404,767 Accumulated impairment losses ( 142,000 ) Goodwill, Net $ 262,767
Summary of Identifiable Intangible Assets	The components of identifiable intangible assets were as follows (in thousands): Technology Trademarks Customer Relationships Other Total (1) As of December 31, 2023: Intangible assets subject to amortization: Gross carrying amount $ 168,841 $ 37,056 $ 143,565 $ 47,670 $ 397,132 Accumulated amortization ( 113,354 ) ( 23,393 ) ( 98,361 ) ( 47,670 ) ( 282,778 ) Total identifiable intangible assets $ 55,487 $ 13,663 $ 45,204 $ — $ 114,354 As of September 30, 2024: Intangible assets subject to amortization: Gross carrying amount $ 126,478 $ 34,955 $ 142,271 $ 2,032 $ 305,736 Accumulated amortization ( 77,462 ) ( 23,418 ) ( 105,073 ) ( 1,532 ) ( 207,485 ) Total identifiable intangible assets $ 49,016 $ 11,537 $ 37,198 $ 500 $ 98,251 (1) During the quarter ended September 30, 2024, we wrote off all fully amortized intangible assets that are no longer in use.
Summary of Estimated Annual Amortization Expense Based on Exchange Rates	Estimated annual amortization expense for the years ending December 31, 2024 through 2028 based on exchange rates in effect at December 31, 2023 is as follows (in millions): For the Years Ending December 31, 2024 (remaining) $ 6.1 2025 22.2 2026 22.2 2027 16.9 2028 11.8

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation	Share-based compensation expense was as follows (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Share-based compensation expense recognized in: Cost of products sold, excluding intangible asset amortization $ 104 $ 278 $ 450 $ 846 Research and development 182 334 1,017 1,139 Selling, general and administrative 3,037 4,861 11,006 14,144 3,323 5,473 12,473 16,129 Tax benefit related to awards ( 831 ) ( 1,374 ) ( 3,143 ) ( 4,053 ) Total expense, net of tax $ 2,492 $ 4,099 $ 9,330 $ 12,076
Summary of Stock Option Activity	Stock option activity was as follows: For the Nine Months Ended September 30, 2024 Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Stock Options Price Life (Years) Value (in Millions) Outstanding at December 31, 2023 2,303,143 $ 26.83 Exercised ( 1,117 ) 18.58 Forfeited ( 572,188 ) 26.11 Outstanding at September 30, 2024 1,729,838 $ 27.08 5.5 $ — Exercisable at September 30, 2024 1,438,875 $ 26.88 5.2 $ —
Summary of Restricted Stock Unit Activity	RSU activity was as follows: For the Nine Months Ended September 30, 2024 Weighted Average Number of Grant Date RSUs Fair Value Outstanding at December 31, 2023 1,942,210 $ 15.13 Granted 797,869 17.52 Vested ( 553,903 ) 20.12 Forfeited ( 435,226 ) 13.29 Outstanding at September 30, 2024 1,750,950 $ 15.78

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Summary of Weighted Average Shares for Basic and Diluted Net Loss Per Common Share	The calculation of weighted average shares for basic and diluted net loss per common share is as follows (in thousands, except per share data): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Net Loss from Continuing Operations of ZimVie Inc. $ ( 3,048 ) $ ( 10,182 ) $ ( 24,162 ) $ ( 32,485 ) Earnings (loss) from discontinued operations, net of tax 764 5,093 10,103 ( 25,945 ) Net Loss of ZimVie Inc. $ ( 2,284 ) $ ( 5,089 ) $ ( 14,059 ) $ ( 58,430 ) Weighted average shares outstanding for basic net loss per common share 27,574 26,530 27,369 26,406 Effect of dilutive stock options and other equity awards (1) — — — — Weighted average shares outstanding for diluted net loss per common share 27,574 26,530 27,369 26,406 Basic (Loss) Earnings Per Common Share: Continuing operations $ ( 0.11 ) $ ( 0.38 ) $ ( 0.88 ) $ ( 1.23 ) Discontinued operations 0.03 0.19 0.37 ( 0.98 ) Net Loss $ ( 0.08 ) $ ( 0.19 ) $ ( 0.51 ) $ ( 2.21 ) Diluted (Loss) Earnings Per Common Share: Continuing operations $ ( 0.11 ) $ ( 0.38 ) $ ( 0.88 ) $ ( 1.23 ) Discontinued operations 0.03 0.19 0.37 ( 0.98 ) Net Loss $ ( 0.08 ) $ ( 0.19 ) $ ( 0.51 ) $ ( 2.21 ) (1) Since we incurred a net loss in each of the three months ended September 30, 2024 and 2023 and the nine months ended September 30, 2024 and 2023, no dilutive stock options or other equity awards were included as diluted shares in those periods.

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Inventories	Inventories consisted of the following (in thousands): September 30, 2024 December 31, 2023 Finished goods $ 50,592 $ 54,456 Work-in-progress 22,360 20,659 Raw materials 4,135 4,485 Inventories $ 77,087 $ 79,600
Schedule of Other Current Liabilities	Other current liabilities consisted of the following (in thousands): September 30, 2024 December 31, 2023 Other current liabilities: Salaries, wages and benefits $ 25,307 $ 23,171 Lease liabilities 4,438 4,053 Other liabilities 28,618 39,884 Total other current liabilities $ 58,363 $ 67,108

Fair Value Measurements of As_2

Fair Value Measurements of Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2023 $ 9,799 Settlements ( 5,213 ) Balance September 30, 2024 $ 4,586

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Our debt consisted of the following (in thousands): September 30, 2024 December 31, 2023 Term loan $ 221,913 $ 511,912 Debt issuance costs ( 1,632 ) ( 3,115 ) Total debt 220,281 508,797 Less: current portion — — Total debt due after one year $ 220,281 $ 508,797

Segment Data (Tables)

Segment Data (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Disclosure on Geographic Areas, Long-Lived Assets	We conduct business in the following countries that hold 10% or more of our total combined property, plant and equipment, net (in thousands): As of September 30, 2024 December 31, 2023 U.S. $ 31,652 $ 35,444 Spain 14,358 14,431 Other countries 3,604 4,292 Property, plant and equipment, net $ 49,614 $ 54,167 U.S. and foreign sales (based on the location of the customer) are as follows (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 U.S. $ 65,350 $ 65,003 $ 202,414 $ 204,173 Spain 9,089 10,453 37,257 39,072 Other countries 28,783 29,855 98,557 100,886 Third party sales $ 103,222 $ 105,311 $ 338,228 $ 344,131

Restructuring and Other Cost _2

Restructuring and Other Cost Reduction Initiatives (Tables)	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Liabilities	The following table summarizes the liabilities directly attributable to us that were recognized under the plans discussed above and excludes non-cash charges (in thousands): Nine Months Ended September 30, Employee Other Total Balance, December 31, 2023 $ 947 $ — $ 947 Additions 3,518 161 3,679 Cash payments ( 3,703 ) ( 118 ) ( 3,821 ) Balance, September 30, 2024 $ 762 $ 43 $ 805

Background, Nature of Busines_3

Background, Nature of Business and Basis of Presentation - Additional Information (Details) $ in Thousands				3 Months Ended			9 Months Ended
	Apr. 01, 2024 USD ($)	Dec. 15, 2023 USD ($)	Mar. 01, 2022	Sep. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Feb. 01, 2023
Number of operating segments | Segment							2
Loss from continuing operations before income taxes				$ (3,736)		$ (9,857)	$ (18,001)	$ (30,930)
Earnings (loss) from discontinued operations, net of tax				764		$ 5,093	10,103	$ (25,945)
Restricted cash				$ 1,500			$ 1,500		$ 1,500
Consideration by Buyer HIG		$ 315,000
Consideration as promissory note		$ 60,000
Promissory note, interest rate	10%	10%
Total purchase price	$ 377,200
Purchase price, inclusive of preliminary closing adjustments	2,200
Proceeds received	311,800
Cash disposed	$ 26,100
Affiliate of H.I.G. Capital
Total consideration		$ 375,000
Zim Vie Inc
Percentage of common stock shares outstanding			19.70%
Percentage of ownership sold										19.70%
Loss from continuing operations before income taxes					$ 1,800
Earnings (loss) from discontinued operations, net of tax					$ 700

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Apr. 01, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total purchase price	$ 377,200
Purchase price, inclusive of preliminary closing adjustments	2,200
Proceeds received	311,800
Cash disposed	26,100
Gain on sale included in earnings (loss) from discontinued operations	$ 11,300	$ 0	$ 0	$ 11,284	$ 0

Discontinued Operations - Summa

Discontinued Operations - Summary of Earnings (Loss) from Discontinued Operations (Details) - USD ($) $ in Thousands			3 Months Ended					9 Months Ended				12 Months Ended
		Apr. 01, 2024	Sep. 30, 2024		Mar. 31, 2024	Sep. 30, 2023		Sep. 30, 2024		Sep. 30, 2023		Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Net Sales			$ 13,244			$ 97,561		$ 121,642		$ 308,828
Cost of products sold, excluding intangible asset amortization			(5,866)			(28,341)		(40,360)		(86,220)
Related party cost of products sold, excluding intangible asset amortization			0			0		0		(97)
Intangible asset amortization			0			(13,837)		0		(41,409)
Research and development			(295)			(5,780)		(7,306)		(20,697)
Selling, general and administrative			(7,009)			(60,849)		(69,227)		(187,748)
Restructuring and other cost reduction initiatives			228			(1,041)		(1,666)		(11,922)
Acquisition, integration, divestiture and related			0			(9)		(11,770)		(377)
Other (expense) income, net			(123)			925		(768)		817
Interest income (expense), net	[1]		37			(4,224)		(6,245)		(11,922)
Earnings (loss) from discontinued operations before income taxes			216			(15,595)		(15,700)		(50,746)
Gain on sale of spine disposal group		$ 11,300	0			0		11,284		0
Adjustment of spine disposal group to fair value			0	[2]	$ 11,100	0	[2]	11,143	[2]	0	[2]	$ (289,500)
Benefit for income taxes from discontinued operations			548			20,688		3,376		24,801
Earnings (loss) from discontinued operations, net of tax			764			5,093		10,103		(25,945)
Third Party Net [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Net Sales			13,244			97,561		121,642		308,725
Related Party Net [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Net Sales			$ 0			$ 0		$ 0		$ 103
[1] A portion of the interest on our Term Loan (as defined and described in Note 8) has been allocated to discontinued operations consistent with the amount of proceeds used to repay a portion of the amounts outstanding under our Term Loan in accordance with our Credit Agreement (as defined and described in Note 8). We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets, resulting in a write-down of $ 289.5 million. We updated our analysis as of March 31, 2024, immediately prior to the sale, which resulted in a reduction of the December 2023 write-down of $ 11.1 million.

Discontinued Operations - Sum_2

Discontinued Operations - Summary of Earnings (Loss) from Discontinued Operations (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended					9 Months Ended				12 Months Ended
	Sep. 30, 2024		Mar. 31, 2024	Sep. 30, 2023		Sep. 30, 2024		Sep. 30, 2023		Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Adjustment of spine disposal group to fair value	$ 0	[1]	$ (11,100)	$ 0	[1]	$ (11,143)	[1]	$ 0	[1]	$ 289,500
[1] We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets, resulting in a write-down of $ 289.5 million. We updated our analysis as of March 31, 2024, immediately prior to the sale, which resulted in a reduction of the December 2023 write-down of $ 11.1 million.

Discontinued Operations - Sum_3

Discontinued Operations - Summary of Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Cash and cash equivalents		$ 1,288	$ 16,257
Accounts receivable, less allowance for credit losses		13,554	83,871
Inventories		13,123	130,430
Prepaid expenses and other current assets		71	12,215
Total Current Assets of Discontinued Operations		28,036	242,773
Property, plant and equipment, net		11,153	62,692
Intangible assets, net		0	477,110
Other assets		1,146	14,743
Total Noncurrent Assets of Discontinued Operations		12,299	554,545
Accounts payable		1,416	24,186
Income taxes payable		49	410
Other current liabilities	[1]	46,967	51,262
Total Current Liabilities of Discontinued Operations		48,432	75,858
Deferred income taxes		0	86,037
Lease liability		258	8,032
Other long-term liabilities		111	972
Total Noncurrent Liabilities of Discontinued Operations		369	95,041
Adjustment of spine disposal group to fair value	[2]	$ 0	$ (289,456)
[1] Includes our non-cash liability of $ 40.5 million as of September 30, 2024 to transfer the net assets of the Deferred Transfer Locations to the Buyer. This adjustment is reflected in Noncurrent assets of discontinued operations in the condensed consolidated balance sheets.

Discontinued Operations - Sum_4

Discontinued Operations - Summary of Assets and Liabilities of Discontinued Operations (Parenthetical) (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash liability	[1]	$ 46,967	$ 51,262
Spine Segment [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash liability		$ 40,500
[1] Includes our non-cash liability of $ 40.5 million as of September 30, 2024 to transfer the net assets of the Deferred Transfer Locations to the Buyer.

Discontinued Operations - Sum_5

Discontinued Operations - Summary of Significant Non-Cash Operating Activities and Capital Expenditures (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Depreciation and amortization	$ 27	$ 68,738
Share-based compensation	712	1,969
Gain on sale of spine disposal group	(22,427)	0
Additions to instruments	1,316	4,341
Additions to other property, plant and equipment	$ 88	$ 447

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, 2023	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Gross	$ 404,111	$ 404,767
Accumulated impairment losses	(142,000)	(142,000)
Goodwill, Net	262,111	$ 262,767
Currency translation	$ 656

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	[1]	$ 305,736	$ 397,132
Accumulated amortization	[1]	(207,485)	(282,778)
Total identifiable intangible assets	[1]	98,251	114,354
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		126,478	168,841
Accumulated amortization		(77,462)	(113,354)
Total identifiable intangible assets		49,016	55,487
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		34,955	37,056
Accumulated amortization		(23,418)	(23,393)
Total identifiable intangible assets		11,537	13,663
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		142,271	143,565
Accumulated amortization		(105,073)	(98,361)
Total identifiable intangible assets		37,198	45,204
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		2,032	47,670
Accumulated amortization		(1,532)	(47,670)
Total identifiable intangible assets		$ 500	$ 0
[1] (1) During the quarter ended September 30, 2024, we wrote off all fully amortized intangible assets that are no longer in use.

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Summary of Estimated Annual Amortization Expense Based on Exchange Rates (Details) $ in Millions	Sep. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (remaining)	$ 6.1
2025	22.2
2026	22.2
2027	16.9
2028	$ 11.8

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Mar. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense	$ 3,323	$ 5,473	$ 12,473	$ 16,129
Unexercised stock option			$ 10,300
Weighted average remaining vesting period			2 years 6 months
Vesting period			3 years
Expected Volatility			52.29%
Expected term			6 years
Risk-free interest rate			1.94%
Dividend yield			0%
Unrecognized share-based compensation cost related to unvested stock options	$ 1,900		$ 1,900
2022 Stock Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock shares authorized						6,000,000
Shares available for future grants	3,700,000		3,700,000
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average vesting period of unrecognized share-based compensation costs			1 year
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		$ 11,000
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average fair value	$ 15.78		$ 15.78		$ 15.13
Number of RSUs, Granted			797,869
Number of RSUs outstanding	1,750,950		1,750,950		1,942,210
Unrecognized share-based compensation cost related to unvested stock options	$ 15,700		$ 15,700
Weighted average vesting period of unrecognized share-based compensation costs			1 year 1 month 6 days
Total fair value of RSUs granted			$ 14,000	15,800
Total fair value of RSUs vested			$ 11,100	$ 6,400
Restricted Stock Units | Zim Vie Inc
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average fair value	$ 31.55		$ 31.55
Performance Restricted Stock Units and RSU
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Conversion of Shares			300,000
Vesting period			36 months
Expected term			1 year 8 months 12 days
Number of RSUs outstanding	0		0
Incremental compensation expense			$ 1,200
Performance Restricted Stock Units and RSU | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Provision for Restricted stock unit vesting percentage			0%
Performance Restricted Stock Units and RSU | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Provision for Restricted stock unit vesting percentage			150%
Performance Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of RSUs outstanding	289,310		289,310
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average fair value	$ 14.76		$ 14.76
Vesting period			10 years
Employee Stock Option | Zim Vie Inc
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Conversion of Shares			2,100,000

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	$ 3,323	$ 5,473	$ 12,473	$ 16,129
Tax benefit related to awards	(831)	(1,374)	(3,143)	(4,053)
Total expense, net of tax	2,492	4,099	9,330	12,076
Cost of Products Sold, Excluding Intangible Asset Amortization [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	104	278	450	846
Research and Development [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	182	334	1,017	1,139
Selling, General and Administrative [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	$ 3,037	$ 4,861	$ 11,006	$ 14,144

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Stock Options, Outstanding, Beginning Balance | shares	2,303,143
Number of Stock Options, Exercised | shares	(1,117)
Number of Stock Options, Forfeited | shares	(572,188)
Number of Stock Options, Outstanding, Ending Balance | shares	1,729,838
Number of Stock Options, Exercisable | shares	1,438,875
Weighted Average Exercise Price, Outstanding, Beginning Balance | $ / shares	$ 26.83
Weighted Average Exercise Price, Exercised | $ / shares	18.58
Weighted Average Exercise Price, Forfeited | $ / shares	26.11
Weighted Average Exercise Price, Outstanding, Ending Balance | $ / shares	27.08
Weighted Average Exercise Price, Exercisable | $ / shares	$ 26.88
Weighted Average Remaining Contractual Life, Outstanding	5 years 6 months
Weighted Average Remaining Contractual Life, Exercisable	5 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding | $	$ 0
Aggregate Intrinsic Value, Exercisable | $	$ 0

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of RSUs, Outstanding, Beginning Balance | shares	1,942,210
Number of RSUs, Granted | shares	797,869
Number of RSUs, Vested | shares	(553,903)
Number of RSUs, Forfeited | shares	(435,226)
Number of RSUs, Outstanding, Ending balance | shares	1,750,950
Weighted Average Grant Date Fair Value, Outstanding, Beginning Balance | $ / shares	$ 15.13
Weighted Average Grant Date Fair Value, Granted | $ / shares	17.52
Weighted Average Grant Date Fair Value, Vested | $ / shares	20.12
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	13.29
Weighted Average Grant Date Fair Value, Outstanding, Ending Balance | $ / shares	$ 15.78

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Weighted average number of shares excluded from computation of diluted net loss per share	1.8	3.2	2.1	3.3

Earnings Per Share - Summary of

Earnings Per Share - Summary of Weighted Average Shares for Basic and Diluted Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Loss from Continuing Operations of ZimVie Inc.		$ (3,048)	$ (10,182)	$ (24,162)	$ (32,485)
Earnings (loss) from discontinued operations, net of tax		764	5,093	10,103	(25,945)
Net Loss of ZimVie Inc.		$ (2,284)	$ (5,089)	$ (14,059)	$ (58,430)
Weighted average shares outstanding for basic net loss per common share		27,574	26,530	27,369	26,406
Effect of dilutive stock options and other equity awards	[1]	0	0	0	0
Weighted average shares outstanding for diluted net loss per common share		27,574	26,530	27,369	26,406
Basic (Loss) Earnings Per Common Share:
Continuing operations		$ (0.11)	$ (0.38)	$ (0.88)	$ (1.23)
Discontinued operations		0.03	0.19	0.37	(0.98)
Net Loss		(0.08)	(0.19)	(0.51)	(2.21)
Diluted (Loss) Earnings Per Common Share:
Continuing operations		(0.11)	(0.38)	(0.88)	(1.23)
Discontinued operations		0.03	0.19	0.37	(0.98)
Net Loss		$ (0.08)	$ (0.19)	$ (0.51)	$ (2.21)
[1] Since we incurred a net loss in each of the three months ended September 30, 2024 and 2023 and the nine months ended September 30, 2024 and 2023, no dilutive stock options or other equity awards were included as diluted shares in those periods.

Balance Sheet Details - Additio

Balance Sheet Details - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Inventory Disclosure [Abstract]
Expense (Benefit) charged to obsolete inventories	$ 0.5	$ 0.6	$ 1.6	$ 1.5

Balance Sheet Details - Summary

Balance Sheet Details - Summary of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 50,592	$ 54,456
Work in progress	22,360	20,659
Raw materials	4,135	4,485
Inventories	$ 77,087	$ 79,600

Balance Sheet Details - Schedul

Balance Sheet Details - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other current liabilities:
Salaries, wages and benefits	$ 25,307	$ 23,171
Lease liabilities	4,438	4,053
Other liabilities	28,618	39,884
Total other current liabilities	$ 58,363	$ 67,108

Fair Value Measurements of As_3

Fair Value Measurements of Assets and Liabilities - Additional Information (Details) - USD ($) $ in Thousands		9 Months Ended
	Apr. 01, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 15, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Consideration as promissory note	$ 60,000	$ 60,000	$ 0
Promissory note, interest rate	10%				10%
Note receivable		$ 63,072		$ 0

Fair Value Measurements of As_4

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	9 Months Ended
	Sep. 30, 2024 USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Beginning Balance	$ 9,799
Contingent payment related to prior acquisitions	(5,213)
Fair Value, Ending Balance	$ 4,586

Debt - Schedule of Debt Due to

Debt - Schedule of Debt Due to Parent (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Term loan	$ 221,913	$ 511,912
Debt issuance costs	(1,632)	(3,115)
Total debt	220,281	508,797
Less: current portion	0	0
Total debt due after one year	$ 220,281	$ 508,797

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)			1 Months Ended	3 Months Ended	9 Months Ended
	Apr. 01, 2024	Dec. 17, 2021	Apr. 30, 2023	Sep. 30, 2024	Sep. 30, 2024
Line of Credit Facility [Line Items]
Scheduled repayments on the term loan				$ 0
Debt instrument description					As of September 30, 2024, our interest rate was the secured overnight financing rate plus the applicable margin of 1.50% for term benchmark borrowings. Commitments under the Revolver are subject to a commitment fee on the unused portion of the Revolver of 25 basis points.
Corporate insurance premium finance amount			$ 4,800,000
Revolver
Line of Credit Facility [Line Items]
Credit facility outstanding					$ 0
Term Loan
Line of Credit Facility [Line Items]
Credit facility outstanding					221,900,000
Prepayment of debt	$ 275,000,000
Wrote off of debt isuance cost	$ 900,000
Debt instrument periodic payment					$ 15,000,000
Maximum
Line of Credit Facility [Line Items]
Proceeds from revolving loans		$ 175,000,000
Borrowings under term loan credit agreements		$ 595,000,000
Borrowing interest Rate				1.50%	1.50%
Debt instrument total net leverage ratio				6	6
Minimum
Line of Credit Facility [Line Items]
Debt instrument total net leverage ratio				1	1

Derivatives - Additional Inform

Derivatives - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Current derivative assets	$ 0.1		$ 0.1		$ 0.4
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Assets, Current		Assets, Current		Assets, Current
Current derivative liabilities	$ 0		$ 0		$ 0.2
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Liabilities, Current		Liabilities, Current		Liabilities, Current
Derivative gains on derivative instrument	$ 0.9	$ 0.6	$ 0.5	$ 0.2
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income (expense), net	Other income (expense), net
Derivative notional amount	$ 20.7		$ 20.7		$ 25
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

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate on loss before income taxes	18.40%	(3.30%)	(34.20%)	(5.00%)
Statutory tax rate	21%	21%	21%	21%

Segment Data - Additional Infor

Segment Data - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 Customer	Sep. 30, 2023 Customer	Sep. 30, 2024 Segment Customer	Sep. 30, 2023 Customer
Segment Reporting Information [Line Items]
Number of operating segments | Segment			2
Revenue
Segment Reporting Information [Line Items]
Number of customers accounted for 10% or more | Customer	0	0	0	0
Geographic Concentration Rsk | Revenue | Dental
Segment Reporting Information [Line Items]
Revenue segment less than 10%			10%

Segment Data - Disclosure on Ge

Segment Data - Disclosure on Geographic Areas, Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 49,614		$ 49,614		$ 54,167
Third party sales	103,222	$ 105,311	338,228	$ 344,131
U.S
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	31,652		31,652		35,444
Third party sales	65,350	65,003	202,414	204,173
Spain
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	14,358		14,358		14,431
Third party sales	9,089	10,453	37,257	39,072
Other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	3,604		3,604		$ 4,292
Third party sales	$ 28,783	$ 29,855	$ 98,557	$ 100,886

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Amount of accrued loss contingency	$ 1.3	$ 2.6

Restructuring and Other Cost _3

Restructuring and Other Cost Reduction Initiatives - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		18 Months Ended	28 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024
January 2024 restructuring plan [Member] | Employee Termination Benefits and Professional Fees [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges Pre-tax	$ 0.7		$ 3.5
January 2024 restructuring plan [Member] | Employee Termination Benefits and Professional Fees [Member] | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	5		5		$ 5	$ 5
January 2024 restructuring plan [Member] | Employee Termination Benefits and Professional Fees [Member] | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	4		4		4	4
April and July 2023 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges Pre-tax					$ 4.1
April and July 2023 Restructuring Plan [Member] | Employee Termination Benefits and Professional Fees [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges Pre-tax		$ 1.3		$ 3.8
June 2022 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges Pre-tax	$ 0.2		$ 0.2
June 2022 Restructuring Plan [Member] | Employee Termination Benefits and Professional Fees [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges Pre-tax						$ 3

Restructuring and Other Cost _4

Restructuring and Other Cost Reduction Initiatives - Schedule of Restructuring Liabilities (Details) - Restructuring Plans Member $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	$ 947
Additions	3,679
Cash payments	(3,821)
Restructuring Reserve, Ending Balance	805
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	947
Additions	3,518
Cash payments	(3,703)
Restructuring Reserve, Ending Balance	762
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	0
Additions	161
Cash payments	(118)
Restructuring Reserve, Ending Balance	$ 43