Owens & Minor (OMI) 10-Q 3 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Oct. 31, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	1-9810
Entity Registrant Name	Owens & Minor, Inc.
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-1701843
Entity Address, Address Line One	9120 Lockwood Boulevard
Entity Address, City or Town	Mechanicsville
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23116
City Area Code	804
Local Phone Number	723-7000
Title of 12(b) Security	Common Stock, $2 par value per share
Trading Symbol	OMI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Smaller Reporting Entity	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		75,455,760
Entity Central Index Key	0000075252
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net revenue	$ 2,502,175	$ 2,187,928	$ 7,318,169	$ 6,118,340
Cost of goods sold	2,173,336	1,843,589	6,146,511	5,236,035
Gross margin	328,839	344,339	1,171,658	882,305
Distribution, selling and administrative expenses	262,457	262,538	849,255	758,320
Acquisition-related and exit and realignment charges	6,380	6,382	20,967	18,500
Other operating income, net	(2,873)	(134)	(5,016)	(3,020)
Operating income	62,875	75,553	306,452	108,505
Interest expense, net	11,572	20,975	36,784	65,923
Loss on extinguishment of debt	0	308	40,433	2,580
Other expense (income), net	799	785	2,397	(1,193)
Income from continuing operations before income taxes	50,504	53,485	226,838	41,195
Income tax provision	6,375	7,404	47,224	3,863
Income from continuing operations, net of tax	44,129	46,081	179,614	37,332
Loss from discontinued operations, net of tax	0	0	0	(58,203)
Net income (loss)	$ 44,129	$ 46,081	$ 179,614	$ (20,871)
Basic income (loss) per common share:
Income from continuing operations (in usd per share)	$ 0.60	$ 0.76	$ 2.47	$ 0.61
Loss from discontinued operations (in usd per share)	0	0	0	(0.95)
Net income (loss) (in usd per share)	0.60	0.76	2.47	(0.34)
Diluted income (loss) per common share:
Income from continuing operations (in usd per share)	0.58	0.76	2.38	0.61
Loss from discontinued operations (in usd per share)	0	0	0	(0.95)
Net income (loss) (in usd per share)	$ 0.58	$ 0.76	$ 2.38	$ (0.34)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ 44,129	$ 46,081	$ 179,614	$ (20,871)
Other comprehensive income (loss), net of tax:
Currency translation adjustments	(12,014)	5,173	(26,724)	7,003
Change in unrecognized net periodic pension costs	395	167	552	932
Change in gains and losses on derivative instruments	0	1,681	20,044	(9,792)
Total other comprehensive income (loss), net of tax	(11,619)	7,021	(6,128)	(1,857)
Comprehensive income (loss)	$ 32,510	$ 53,102	$ 173,486	$ (22,728)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 39,759	$ 83,058
Accounts receivable, net of allowances of $19,273 and $19,087	759,744	700,792
Merchandise inventories	1,514,387	1,233,751
Other current assets	84,335	118,264
Total current assets	2,398,225	2,135,865
Property and equipment, net of accumulated depreciation of $320,389 and $284,126	308,463	315,662
Operating lease assets	184,554	144,755
Goodwill	386,693	394,086
Intangible assets, net	209,789	243,351
Other assets, net	96,395	101,920
Total assets	3,584,119	3,335,639
Current liabilities
Accounts payable	1,118,753	1,000,186
Accrued payroll and related liabilities	100,171	109,447
Other current liabilities	206,094	236,094
Total current liabilities	1,425,018	1,345,727
Long-term debt, excluding current portion	959,485	986,018
Operating lease liabilities, excluding current portion	154,009	119,932
Deferred income taxes	37,093	50,641
Other liabilities	121,509	121,267
Total liabilities	2,697,114	2,623,585
Commitments and contingencies
Equity
Common stock, par value $2 per share; authorized - 200,000 shares; issued and outstanding - 75,429 shares and 73,472 shares	150,858	146,944
Paid-in capital	434,952	436,597
Retained earnings	345,832	167,022
Accumulated other comprehensive loss	(44,637)	(38,509)
Total equity	887,005	712,054
Total liabilities and equity	$ 3,584,119	$ 3,335,639

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 19,273	$ 19,087
Property and equipment, accumulated depreciation	$ 320,389	$ 284,126
Common stock, par value (in usd per share)	$ 2	$ 2
Common stock, authorized (shares)	200,000	200,000
Common stock, issued (shares)	75,429	73,472
Common stock, outstanding (shares)	75,429	73,472

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities:
Net income (loss)	$ 179,614	$ (20,871)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization	68,142	69,494
Share-based compensation expense	19,078	15,275
Loss on divestiture	0	65,472
Loss on extinguishment of debt	40,433	2,580
Provision for losses on accounts receivable	19,270	9,583
Deferred income tax (benefit) expense	(18,286)	25,017
Changes in operating lease right-of-use assets and lease liabilities	1,190	(1,328)
Changes in operating assets and liabilities:
Accounts receivable	(84,381)	(20,173)
Merchandise inventories	(284,188)	52,605
Accounts payable	120,821	136,156
Net change in other assets and liabilities	(8,341)	(69,117)
Other, net	20,484	3,503
Cash provided by operating activities	73,836	268,196
Investing activities:
Proceeds from divestiture	0	133,000
Additions to property and equipment	(26,446)	(21,678)
Additions to computer software	(6,179)	(4,702)
Proceeds from sale of property and equipment	41	178
Proceeds from cash surrender value of life insurance policies	0	6,032
Cash (used for) provided by investing activities	(32,584)	112,830
Financing activities:
Proceeds from issuance of debt	574,900	150,000
Repayments under revolving credit facility, net	(90,900)	(107,900)
Repayments of debt	(553,140)	(270,399)
Financing costs paid	(13,912)	(10,367)
Cash dividends paid	(548)	(467)
Payment for termination of interest rate swaps	(15,434)	0
Other, net	(18,188)	(5,822)
Cash used for financing activities	(117,222)	(244,955)
Effect of exchange rate changes on cash and cash equivalents	(2,454)	6,721
Net (decrease) increase in cash, cash equivalents and restricted cash	(78,424)	142,792
Cash, cash equivalents and restricted cash at beginning of period	134,506	84,687
Cash, cash equivalents and restricted cash at end of period	56,082	227,479
Supplemental disclosure of cash flow information:
Income taxes paid (received), net of refunds	83,606	(1,892)
Interest paid	$ 32,035	$ 61,271

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Dec. 31, 2019		62,843
Beginning Balance at Dec. 31, 2019	$ 462,154	$ 125,686	$ 251,401	$ 137,774	$ (52,707)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(11,324)			(11,324)
Other comprehensive loss	(39,405)				(39,405)
Dividends declared ($0.0025 per share)	(127)			(127)
Share-based compensation expense, exercises and other (in shares)		42
Share-based compensation expense, exercises and other	5,040	$ 84	4,956
Ending Balance (in shares) at Mar. 31, 2020		62,885
Ending Balance at Mar. 31, 2020	416,338	$ 125,770	256,357	126,323	(92,112)
Beginning Balance (in shares) at Dec. 31, 2019		62,843
Beginning Balance at Dec. 31, 2019	462,154	$ 125,686	251,401	137,774	(52,707)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(20,871)
Ending Balance (in shares) at Sep. 30, 2020		63,716
Ending Balance at Sep. 30, 2020	451,335	$ 127,432	262,002	116,465	(54,564)
Beginning Balance (in shares) at Mar. 31, 2020		62,885
Beginning Balance at Mar. 31, 2020	416,338	$ 125,770	256,357	126,323	(92,112)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(55,627)			(55,627)
Other comprehensive loss	30,527				30,527
Dividends declared ($0.0025 per share)	(156)			(156)
Share-based compensation expense, exercises and other (in shares)		852
Share-based compensation expense, exercises and other	4,080	$ 1,704	2,376
Ending Balance (in shares) at Jun. 30, 2020		63,737
Ending Balance at Jun. 30, 2020	395,162	$ 127,474	258,733	70,540	(61,585)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	46,081			46,081
Other comprehensive loss	7,021				7,021
Dividends declared ($0.0025 per share)	(156)			(156)
Share-based compensation expense, exercises and other (in shares)		(21)
Share-based compensation expense, exercises and other	3,227	$ (42)	3,269
Ending Balance (in shares) at Sep. 30, 2020		63,716
Ending Balance at Sep. 30, 2020	$ 451,335	$ 127,432	262,002	116,465	(54,564)
Beginning Balance (in shares) at Dec. 31, 2020	73,472	73,472
Beginning Balance at Dec. 31, 2020	$ 712,054	$ 146,944	436,597	167,022	(38,509)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	69,589			69,589
Other comprehensive loss	7,903				7,903
Dividends declared ($0.0025 per share)	(434)			(434)
Share-based compensation expense, exercises and other (in shares)		1,628
Share-based compensation expense, exercises and other	(2,851)	$ 3,256	(6,107)
Ending Balance (in shares) at Mar. 31, 2021		75,100
Ending Balance at Mar. 31, 2021	$ 786,261	$ 150,200	430,490	236,177	(30,606)
Beginning Balance (in shares) at Dec. 31, 2020	73,472	73,472
Beginning Balance at Dec. 31, 2020	$ 712,054	$ 146,944	436,597	167,022	(38,509)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 179,614
Ending Balance (in shares) at Sep. 30, 2021	75,429	75,429
Ending Balance at Sep. 30, 2021	$ 887,005	$ 150,858	434,952	345,832	(44,637)
Beginning Balance (in shares) at Mar. 31, 2021		75,100
Beginning Balance at Mar. 31, 2021	786,261	$ 150,200	430,490	236,177	(30,606)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	65,896			65,896
Other comprehensive loss	(2,412)				(2,412)
Dividends declared ($0.0025 per share)	(187)			(187)
Share-based compensation expense, exercises and other (in shares)		295
Share-based compensation expense, exercises and other	(1,539)	$ 591	(2,130)
Ending Balance (in shares) at Jun. 30, 2021		75,395
Ending Balance at Jun. 30, 2021	848,019	$ 150,791	428,360	301,886	(33,018)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	44,129			44,129
Other comprehensive loss	(11,619)
Dividends declared ($0.0025 per share)	(183)			(183)
Share-based compensation expense, exercises and other (in shares)		34
Share-based compensation expense, exercises and other	$ 6,659	$ 67	6,592
Ending Balance (in shares) at Sep. 30, 2021	75,429	75,429
Ending Balance at Sep. 30, 2021	$ 887,005	$ 150,858	$ 434,952	$ 345,832	$ (44,637)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in usd per share)	$ 2
Dividends declared, per share (in usd per share)	$ 0.0025	$ 0.0025	$ 0.0025	$ 0.0025	$ 0.0025	$ 0.0025

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Owens & Minor, Inc. and the subsidiaries it controls (we, us, or our) and contain all adjustments (which are comprised only of normal recurring accruals and use of estimates) necessary to conform with U.S. generally accepted accounting principles (GAAP). All significant intercompany accounts and transactions have been eliminated. The Movianto business represented a component that met accounting requirements to be classified as discontinued operations for the nine months ended September 30, 2020. In accordance with GAAP, the results of operations of the Movianto business are presented as discontinued operations through June 18, 2020 (the Divestiture Date) and, as such, have been excluded from continuing operations for the nine months ended September 30, 2020. With the exception of Note 3, the Notes to Consolidated Financial Statements reflect the continuing operations of Owens & Minor, Inc. and its subsidiaries. See Note 3 for additional information regarding discontinued operations. The results of operations for interim periods are not necessarily indicative of the results expected for the full year. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make assumptions and estimates that affect reported amounts and related disclosures. Actual results may differ from these estimates. Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash includes cash and marketable securities with an original maturity or maturity at acquisition of three months or less. Cash, cash equivalents and restricted cash are stated at cost. Nearly all of our cash, cash equivalents and restricted cash are held in cash depository accounts in major banks in the United States, Europe, and Asia. Cash that is held by a major bank and has restrictions on its availability to us is classified as restricted cash. Restricted cash included in Other assets, net as of September 30, 2021 represents cash held in an escrow account as required by the Centers for Medicare & Medicaid Services (CMS) in conjunction with the Bundled Payments for Care Improvement (BPCI) initiatives. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the accompanying consolidated balance sheets that sum to the total of those same amounts presented in the accompanying consolidated statements of cash flows. September 30, 2021 December 31, 2020 Cash and cash equivalents $ 39,759 $ 83,058 Restricted cash included in Other current assets — 35,126 Restricted cash included in Other assets, net 16,323 16,322 Total cash, cash equivalents, and restricted cash $ 56,082 $ 134,506

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value	Fair ValueThe carrying amounts of cash and cash equivalents, accounts receivable and accounts payable reported in the consolidated balance sheets approximate fair value due to the short-term nature of these instruments. The carrying amount of restricted cash also approximates fair value due to its nature. The fair value of debt is estimated based on quoted market prices or dealer quotes for the identical liability when traded as an asset in an active market (Level 1) or, if quoted market prices or dealer quotes are not available, on the borrowing rates currently available for loans with similar terms, credit ratings, and average remaining maturities (Level 2). See Note 6 for the fair value of debt. The fair value of foreign currency contracts is determined based on the present value of expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Observable Level 2 inputs are used to determine the present value of expected future cash flows. See Note 8 for the fair value of derivatives.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On June 18, 2020, we completed the divestiture of our European logistics business, Movianto (the Divestiture), as well as certain support functions in our Dublin office, to Walden Group SAS (the Buyer) and EHDH (as Buyer’s guarantor) for cash consideration of $133 million. We concluded that the Movianto business met the criteria for discontinued operations through the Divestiture Date, as the intention to sell represented a strategic shift and the criteria for held-for-sale were met. Movianto was previously reported in the Global Solutions segment. Accordingly, the results of operations from the Movianto business are reported in the accompanying consolidated statements of operations as Loss from discontinued operations, net of tax for the three and nine months ended September 30, 2020. The following table summarizes the financial results of our discontinued operations for the three and nine months ended September 30, 2020: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Net revenue $ — $ 226,759 Cost of goods sold — 53,923 Gross margin — 172,836 Distribution, selling, and administrative expenses — 157,512 Loss on divestiture — 65,472 Acquisition-related and exit and realignment charges — 4,825 Other operating income, net — (388) Operating loss — (54,585) Interest expense, net — 3,144 Loss from discontinued operations before income taxes — (57,729) Income tax provision from discontinued operations — 474 Loss from discontinued operations, net of tax $ — $ (58,203) We suspended depreciation and amortization on assets that are held-for-sale, including right-of-use assets recorded in accordance with ASU No. 2016-02, for the nine months ended September 30, 2020. No revenue or expense have been recorded in discontinued operations related to the disposal group subsequent to the Divestiture Date. We have entered into transition services agreements with a subsidiary of the Buyer, pursuant to which we and a subsidiary of the Buyer will provide to each other various transitional services. Certain transition service arrangement costs and reimbursements were recorded during the three and nine months ended September 30, 2021 and 2020 and were immaterial for the periods presented. These arrangements were substantially completed as of September 30, 2021. We had no assets and liabilities of the discontinued Movianto business reflected on the consolidated balance sheets at September 30, 2021 and December 31, 2020. The following table provides operating and investing cash flow information for our discontinued operations: Nine Months Ended September 30, 2020 Operating Activities: Loss on divestiture $ 65,472 Investing Activities: Capital expenditures 3,027

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The following table summarizes the goodwill balances by segment and the changes in the carrying amount of goodwill through September 30, 2021: Global Solutions Global Products Consolidated Carrying amount of goodwill, December 31, 2020 $ 283,905 $ 110,181 $ 394,086 Currency translation adjustments — (7,393) (7,393) Carrying amount of goodwill, September 30, 2021 $ 283,905 $ 102,788 $ 386,693 Intangible assets at September 30, 2021 and December 31, 2020 were as follows: September 30, 2021 December 31, 2020 Customer Tradenames Other Customer Tradenames Other Gross intangible assets $ 265,527 $ 90,000 $ 43,313 $ 270,505 $ 90,000 $ 43,245 Accumulated amortization (139,632) (31,152) (18,267) (121,209) (24,881) (14,309) Net intangible assets $ 125,895 $ 58,848 $ 25,046 $ 149,296 $ 65,119 $ 28,936 Weighted average useful life 10 years 11 years 8 years 10 years 11 years 8 years At September 30, 2021, $51.1 million in net intangible assets were held in the Global Solutions segment and $159 million were held in the Global Products segment. Amortization expense for intangible assets was $10.0 million and $10.2 million for the three months ended September 30, 2021 and 2020, and $30.1 million and $31.5 million for the nine months ended September 30, 2021 and 2020. Based on the current carrying value of intangible assets subject to amortization, estimated amortization expense is approximately $10 million for the remainder of 2021, $39 million for 2022, $39 million for 2023, $34 million for 2024, $28 million for 2025 and $27 million for 2026.

Exit and Realignment Costs

Exit and Realignment Costs	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Exit and Realignment Costs	Exit and Realignment Costs We periodically incur exit and realignment and other charges associated with optimizing our operations which includes the consolidation of certain distribution and outsourced logistics centers, administrative offices and warehouses, our client engagement center and IT restructuring charges. These charges also include costs associated with our strategic organizational realignment which include leadership reorganization costs, certain professional fees, and costs to streamline administrative functions and processes and divestiture related costs. Exit and realignment charges by segment for the three and nine months ended September 30, 2021 and 2020 were as follows: Three Months Ended Nine Months Ended September 30, 2021 2020 2021 2020 Global Solutions segment $ 5,352 $ 2,714 $ 16,166 $ 6,255 Global Products segment 1,028 2,877 4,801 3,364 Total exit and realignment charges $ 6,380 $ 5,591 $ 20,967 $ 9,619 The following table summarizes the activity related to exit and realignment cost accruals through September 30, 2021 and 2020: Total Accrued exit and realignment costs, December 31, 2020 $ 3,146 Provision for exit and realignment activities: Information system restructuring costs 1,029 Lease obligations 347 Other 781 Cash payments (2,915) Accrued exit and realignment costs, March 31, 2021 2,388 Provision for exit and realignment activities: Information system restructuring costs 1,611 Lease obligations (126) Other 989 Cash payments (2,302) Accrued exit and realignment costs, June 30, 2021 2,560 Provision for exit and realignment activities: Information system restructuring costs 1,506 Lease obligations 107 Other 3,142 Cash payments (4,199) Accrued exit and realignment costs, September 30, 2021 $ 3,116 Accrued exit and realignment costs, December 31, 2019 $ 8,162 Provision for exit and realignment activities: Severance 1,391 Information system restructuring costs 183 Lease obligations 202 Other 53 Cash payments (5,799) Accrued exit and realignment costs, March 31, 2020 4,192 Provision for exit and realignment activities: Severance 809 Information system restructuring costs 671 Lease obligations 219 Other 501 Cash payments (2,072) Accrued exit and realignment costs, June 30, 2020 4,320 Provision for exit and realignment activities: Severance 1,950 Information system restructuring costs 77 Lease obligations 848 Other 2,716 Cash payments (7,083) Accrued exit and realignment costs, September 30, 2020 $ 2,828 In addition to the exit and realignment accruals in the preceding table, we also incurred $1.6 million and $11.6 million of costs that were expensed as incurred for the three and nine months ended September 30, 2021, which primarily includes $1.5 million and $9.6 million of wind-down costs related to Fusion5 for the three and nine months ended September 30, 2021. There were no acquisition-related charges included within acquisition-related and exit and realignment charges presented in our consolidated statements of operations for the three and nine months ended September 30, 2021. Acquisition-related charges within acquisition-related and exit and realignment charges presented in our consolidated statements of operations were $0.8 million and $8.9 million for the three and nine months ended September 30, 2020, which consisted primarily of transition costs for the Halyard acquisition.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt consists of the following: September 30, 2021 December 31, 2020 Carrying Estimated Carrying Estimated Term Loan A-2 $ — $ — $ 33,865 $ 34,390 Term Loan B — — 477,525 486,614 Receivables Securitization Program 196,683 200,000 152,929 155,100 4.375% Senior Notes, due December 2024 245,011 261,329 244,780 253,241 Revolver 12,300 12,300 103,200 103,200 4.500% Senior Notes, due March 2029 491,430 507,075 — — Finance leases and other 15,677 15,677 13,668 13,668 Total debt 961,101 996,381 1,025,967 1,046,213 Less current maturities (1,616) (1,616) (39,949) (40,453) Long-term debt $ 959,485 $ 994,765 $ 986,018 $ 1,005,760 We have $246 million, excluding deferred financing costs and third party fees, of 4.375% senior notes due in 2024 (the 2024 Notes), with interest payable semi-annually. The 2024 Notes were sold at 99.6% of the principal amount with an effective yield of 4.422%. We have the option to redeem the 2024 Notes in part or in whole prior to maturity at a redemption price equal to the greater of 100% of the principal amount or the present value of the remaining scheduled payments discounted at the applicable Benchmark Treasury Rate (as defined) plus 30 basis points. In March 2021, we issued $500 million, excluding deferred financing costs and third party fees, of 4.500% senior unsecured notes due in 2029 (the 2029 Unsecured Notes), with interest payable semi-annually (the Notes Offering). The 2029 Unsecured Notes were sold at 100% of the principal amount with an effective yield of 4.500%. We used a portion of the net proceeds from the Notes Offering to repay our Term B Loan and borrowings under our revolving credit facility. In connection with these repayments, we recorded $15.3 million in write-offs of deferred financing costs and third party fees within loss on extinguishment of debt for the nine months ended September 30, 2021. No write-offs of deferred financing costs and third party fees were recorded for the three months ended September 30, 2021. We may redeem all or part of the 2029 Unsecured Notes prior to March 31, 2024, at a price equal to 100% of the principal amount of the 2029 Unsecured Notes redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date, plus a “make-whole” premium, as described in the Indenture dated March 10, 2021 (the Indenture). On or after March 31, 2024, we may redeem all or part of the 2029 Unsecured Notes at the applicable redemption prices described in the Indenture, plus accrued and unpaid interest, if any, to, but not including, the redemption date. We may also redeem up to 40% of the aggregate principal amount of the 2029 Unsecured Notes at any time prior to March 31, 2024, at a redemption price equal to 104.5% with an amount equal to or less than the net cash proceeds from certain equity offerings, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. On March 10, 2021, we terminated our then existing credit agreement and all obligations thereunder were repaid. On that same date, we entered into a new credit agreement with Bank of America, N.A. and a syndicate of lenders (the Credit Agreement) with a $300 million revolving credit facility. The interest rate on our revolving credit facility is based on a spread over a benchmark rate (as described in the Credit Agreement). The Credit Agreement matures in March 2026. At September 30, 2021 and December 31, 2020, we had borrowings of $12.3 million and $103 million and letters of credit of $9.4 million and $13.9 million outstanding under our revolving credit facilities. At September 30, 2021 and December 31, 2020, we had $278 million and $283 million available for borrowing. We also had letters of credit and bank guarantees outstanding for $2.2 million and $1.6 million as of September 30, 2021 and December 31, 2020, which supports certain leased facilities as well as other normal business activities in the United States and Europe. These letters of credit and guarantees were issued outside of the revolving credit facility. We entered into a Security and Pledge Agreement (the Security Agreement), dated March 10, 2021, pursuant to which we granted collateral on behalf of the holders of the 2024 Notes, and the parties secured under the Credit Agreement (the Secured Parties) including first priority liens and security interests in (a) all present and future shares of capital stock owned by the Credit Parties (as defined) in the Credit Parties’ present and future subsidiaries, subject to certain customary exceptions, and (b) all present and future personal property and assets of the Credit Parties, subject to certain exceptions. On March 10, 2021, we entered into an amendment to our accounts receivable securitization program (the Receivables Securitization Program). Pursuant to the amended Receivables Securitization Program, the aggregate principal amount of the loans made by the Lenders (as defined) will not exceed $450 million outstanding at any time. The interest rate under the Receivables Securitization Program is based on a spread over a benchmark rate (as described in the Third Amendment to the Receivables Financing Agreement). Under the Receivables Securitization Program, certain of our subsidiaries sell substantially all of their accounts receivable balances to our wholly owned special purpose entity, O&M Funding LLC. The Receivables Securitization Program matures in March 2024. The Credit Agreement, Receivables Securitization Program, 2024 Notes and 2029 Unsecured Notes contain cross-default provisions which could result in the acceleration of payments due in the event of default of any of the related agreements. The terms of the Credit Agreement also require us to maintain ratios for leverage and interest coverage, including on a pro forma basis in the event of an acquisition or divestiture. We were in compliance with our debt covenants at September 30, 2021. As of September 30, 2021, scheduled future principal payments of debt, excluding finance leases and other, were $446 million in 2024, $12.3 million in 2026, and $500 million in 2029. Current maturities at September 30, 2021 include $1.6 million in current portion of finance leases.

Retirement Plans

Retirement Plans	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Retirement Plans	Retirement Plans We have a noncontributory, unfunded retirement plan for certain retirees in the United States. Certain of our foreign subsidiaries also have defined benefit pension plans The components of net periodic benefit cost for the three and nine months ended September 30, 2021 and 2020 were as follows: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Service cost $ 693 $ 362 $ 2,106 $ 1,073 Interest cost 443 498 1,337 1,488 Recognized net actuarial loss 353 214 1,060 642 Net periodic benefit cost $ 1,489 $ 1,074 $ 4,503 $ 3,203

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives We are directly and indirectly affected by changes in foreign currency, which may adversely impact our financial performance and are referred to as “market risks.” When deemed appropriate, we use derivatives as a risk management tool to mitigate the potential impact of certain market risks. We do not enter into derivative financial instruments for trading purposes. We enter into foreign currency contracts to manage our foreign exchange exposure related to certain balance sheet items that do not meet the requirements for hedge accounting. These derivative instruments are adjusted to fair value at the end of each period through earnings. The gain or loss recorded on these instruments is substantially offset by the remeasurement adjustment on the foreign currency denominated asset or liability. We determine the fair value of our foreign currency derivatives based on observable market-based inputs or unobservable inputs that are corroborated by market data. We do not view the fair value of our derivatives in isolation, but rather in relation to the fair values or cash flows of the underlying exposure. All derivatives are carried at fair value in our consolidated balance sheets in other current assets and other current liabilities. We consider the risk of counterparty default to be minimal. We report cash flows from our hedging instruments in the same cash flow statement category as the hedged items. The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of September 30, 2021: Derivative Assets Derivative Liabilities Notional Amount Maturity Date Classification Fair Value Classification Fair Value Economic (non-designated) hedges Foreign currency contracts $ 14,400 October 2021 Other current assets $ 92 Other current liabilities $ — In March 2021, we terminated the remaining $300 million in notional value of interest rate swaps concurrent with the debt financing transaction. In September 2020, we terminated $150 million in notional value of interest rate swaps. The remaining balance of the fair value adjustments of $25.1 million, which related to these terminated interest rate swaps, within Accumulated other comprehensive loss was reclassified to Loss on extinguishment of debt within our consolidated statements of operations for the nine months ended September 30, 2021. The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of December 31, 2020: Derivative Assets Derivative Liabilities Notional Amount Maturity Date Classification Fair Value Classification Fair Value Cash flow hedges Interest rate swaps $ 300,000 May 2022 and May 2025 Other assets, net $ — Other liabilities $ 17,872 Economic (non-designated) hedges Foreign currency contracts $ 30,300 January 2021 Other current assets $ 151 Other current liabilities $ — The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the three and nine months ended September 30, 2021: Amount of Gain Recognized in Other Comprehensive Income (Loss) Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of Expense Line Items Presented in the Consolidated Statement of Operations in Which the Effects are Recorded Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Interest rate swaps $ — $ 2,426 Loss on extinguishment of debt $ — $ (40,433) $ — $ (25,518) The amount of ineffectiveness associated with these contracts was immaterial for the periods presented. The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the three and nine months ended September 30, 2020: Amount of Loss Recognized in Other Comprehensive Income (Loss) Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of Expense Line Items Presented in the Consolidated Statement of Operations in Which the Effects are Recorded Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Interest rate swaps $ (515) $ (19,913) Interest expense, net $ (20,975) $ (65,923) $ (3,028) $ (6,889) The amount of ineffectiveness associated with these contracts was immaterial for the periods presented. For the three and nine months ended September 30, 2021 we recognized losses of $0.9 million and $2.5 million associated with our economic (non-designated) foreign currency contracts. For the three and nine months ended September 30, 2020 we recognized losses of $0.9 million and $2.3 million associated with our economic (non-designated) foreign currency contracts. We recorded the change in fair value of derivative instruments and the remeasurement adjustment of the foreign currency denominated asset or liability in other operating income, net for our foreign exchange contracts.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate was 12.6% and 20.8% for the three and nine months ended September 30, 2021, compared to 13.8% and 9.4% in the same periods of 2020. The change in these rates resulted primarily from an income tax benefit recorded in the first quarter of 2020 associated with the Coronavirus Aid, Relief, and Economic Security (CARES) Act and in the third quarter of 2021 associated with the 2017 Tax Cuts and Jobs Act, the mixture of income and losses in jurisdictions in which we operate, and the incremental income tax benefit associated with the vesting of restricted stock. The liability for unrecognized tax benefits was $23.0 million at September 30, 2021 and $20.8 million at December 31, 2020. Included in the liability at September 30, 2021 and December 31, 2020 were $2.7 million of tax positions for which ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. On August 26, 2020, we received a Notice of Proposed Adjustment (NOPA) from the Internal Revenue Services (IRS) regarding our 2015 and 2016 consolidated income tax returns. On June 30, 2021, we received a NOPA from the IRS regarding our 2017 and 2018 consolidated income tax returns. Within the NOPAs, the IRS has asserted that our taxable income for the aforementioned years should be higher based on their assessment of the appropriate amount of taxable income that we should report in the United States in connection with our sourcing of products by our foreign subsidiaries for sale in the United States by our domestic subsidiaries. Our amount of taxable income in the United States is based on our transfer pricing methodology, which has been consistently applied through the current date. We strongly disagree with the IRS position and will pursue all available administrative and judicial remedies, including those available under the U.S. - Ireland Income Tax Treaty to alleviate double taxation. We regularly assess the likelihood of adverse outcomes resulting from examinations such as this to determine the adequacy of our tax reserves. We believe that we have adequately reserved for this matter and that the final adjudication of this matter will not have a material impact on our consolidated financial position, results of operations or cash flows. However, the ultimate outcome of disputes of this nature is uncertain, and if the IRS were to prevail on its assertions, the additional tax, interest, and any potential penalties could have a material adverse impact on our financial position, results of operations or cash flows.

Net Income (Loss) per Common Sh

Net Income (Loss) per Common Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Income (Loss) per Common Share	Net Income (Loss) per Common Share The following summarizes the calculation of net income (loss) per common share attributable to common shareholders for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended (in thousands, except per share data) 2021 2020 2021 2020 Income from continuing operations, net of tax $ 44,129 $ 46,081 $ 179,614 $ 37,332 Loss from discontinued operations, net of tax — — — (58,203) Net income (loss) $ 44,129 $ 46,081 $ 179,614 $ (20,871) Weighted average shares outstanding - basic 73,215 60,786 72,649 60,983 Dilutive shares 2,743 137 2,754 — Weighted average shares outstanding - diluted 75,958 60,923 75,403 60,983 Basic income (loss) per common share: Income from continuing operations $ 0.60 $ 0.76 $ 2.47 $ 0.61 Loss from discontinued operations — — — (0.95) Net income (loss) $ 0.60 $ 0.76 $ 2.47 $ (0.34) Diluted income (loss) per common share: Income from continuing operations $ 0.58 $ 0.76 $ 2.38 $ 0.61 Loss from discontinued operations — — — (0.95) Net income (loss) $ 0.58 $ 0.76 $ 2.38 $ (0.34)

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Shareholders' Equity	Shareholders' EquityIn May 2020, we entered into an equity distribution agreement, pursuant to which we may offer and sell, from time to time, shares of our common stock having an aggregate offering price of up to $50.0 million. We intend to use the net proceeds from the sale of our securities offered by this program for the repayment of indebtedness and/or for general corporate and working capital purposes. As of September 30, 2021, no shares were issued and $50.0 million of common stock remained available under the at-the-market equity financing program.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table shows the changes in accumulated other comprehensive loss by component for the three and nine months ended September 30, 2021 and 2020: Retirement Plans Currency Derivatives Total Accumulated other comprehensive loss, June 30, 2021 $ (18,290) $ (14,728) $ — $ (33,018) Other comprehensive loss before reclassifications — (12,014) — (12,014) Income tax — — — — Other comprehensive loss before reclassifications, net of tax — (12,014) — (12,014) Amounts reclassified from accumulated other comprehensive loss 500 — — 500 Income tax (105) — — (105) Amounts reclassified from accumulated other comprehensive loss, net of tax 395 — — 395 Other comprehensive income (loss) 395 (12,014) — (11,619) Accumulated other comprehensive loss, September 30, 2021 $ (17,895) $ (26,742) $ — $ (44,637) Retirement Plans Currency Translation Adjustments Derivatives Total Accumulated other comprehensive loss, June 30, 2020 $ (13,926) $ (23,471) $ (24,188) $ (61,585) Other comprehensive income (loss) before reclassifications — 5,173 (516) 4,657 Income tax — — 40 40 Other comprehensive income (loss) before reclassifications, net of tax — 5,173 (476) 4,697 Amounts reclassified from accumulated other comprehensive loss 214 — 3,028 3,242 Income tax (47) — (871) (918) Amounts reclassified from accumulated other comprehensive loss, net of tax 167 — 2,157 2,324 Other comprehensive income 167 5,173 1,681 7,021 Accumulated other comprehensive loss, September 30, 2020 $ (13,759) $ (18,298) $ (22,507) $ (54,564) Retirement Plans Currency Derivatives Total Accumulated other comprehensive loss, December 31, 2020 $ (18,447) $ (18) $ (20,044) $ (38,509) Other comprehensive (loss) income before reclassifications — (26,724) 2,426 (24,298) Income tax — — (611) (611) Other comprehensive (loss) income before reclassifications, net of tax — (26,724) 1,815 (24,909) Amounts reclassified from accumulated other comprehensive loss 704 — 25,518 26,222 Income tax (152) — (7,289) (7,441) Amounts reclassified from accumulated other comprehensive loss, net of tax 552 — 18,229 18,781 Other comprehensive income (loss) 552 (26,724) 20,044 (6,128) Accumulated other comprehensive loss, September 30, 2021 $ (17,895) $ (26,742) $ — $ (44,637) Retirement Plans Currency Translation Adjustments Derivatives Total Accumulated other comprehensive loss, December 31, 2019 $ (14,691) $ (25,301) $ (12,715) $ (52,707) Other comprehensive loss before reclassifications — (8,577) (19,913) (28,490) Income tax — — 5,113 5,113 Other comprehensive loss before reclassifications, net of tax — (8,577) (14,800) (23,377) Amounts reclassified from accumulated other comprehensive loss 1,067 15,580 6,889 23,536 Income tax (135) — (1,881) (2,016) Amounts reclassified from accumulated other comprehensive loss, net of tax 932 15,580 5,008 21,520 Other comprehensive income (loss) 932 7,003 (9,792) (1,857) Accumulated other comprehensive loss, September 30, 2020 $ (13,759) $ (18,298) $ (22,507) $ (54,564)

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information We periodically evaluate our application of accounting guidance for reportable segments and disclose information about reportable segments based on the way management organizes the enterprise for making operating decisions and assessing performance. We report our business under two segments: Global Solutions and Global Products. The Global Solutions segment includes our United States distribution businesses (Medical Distribution and Patient Direct), outsourced logistics and value-added services business. Global Products manufactures and sources medical surgical products through our production and kitting operations. We evaluate the performance of our segments based on their operating income excluding intangible amortization and acquisition-related and exit and realignment charges that, either as a result of their nature or size, would not be expected to occur as part of our normal business operations on a regular basis. Segment assets exclude inter-segment account balances as we believe their inclusion would be misleading and not meaningful. We believe all inter-segment sales are at prices that approximate market. The following tables present financial information by segment: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net revenue: Segment net revenue Global Solutions $ 2,022,919 $ 1,865,182 $ 5,850,007 $ 5,261,415 Global Products 679,067 473,797 2,026,385 1,235,391 Total segment net revenue 2,701,986 2,338,979 7,876,392 6,496,806 Inter-segment revenue Global Products (199,811) (151,051) (558,223) (378,466) Total inter-segment revenue (199,811) (151,051) (558,223) (378,466) Consolidated net revenue $ 2,502,175 $ 2,187,928 $ 7,318,169 $ 6,118,340 Operating income: Global Solutions $ 20,366 $ 10,972 $ 47,729 $ 8,522 Global Products 51,327 89,923 310,242 160,268 Inter-segment eliminations 7,587 (8,718) (475) (10,322) Intangible amortization (10,025) (10,242) (30,077) (31,463) Acquisition-related and exit and realignment charges (6,380) (6,382) (20,967) (18,500) Consolidated operating income $ 62,875 $ 75,553 $ 306,452 $ 108,505 Depreciation and amortization: Global Solutions $ 9,951 $ 9,572 $ 29,678 $ 31,273 Global Products 12,691 11,118 38,464 38,221 Consolidated depreciation and amortization $ 22,642 $ 20,690 $ 68,142 $ 69,494 Capital expenditures: Global Solutions $ 5,752 $ 3,582 $ 14,776 $ 7,545 Global Products 8,192 10,656 17,849 15,808 Discontinued operations — — — 3,027 Consolidated capital expenditures $ 13,944 $ 14,238 $ 32,625 $ 26,380 September 30, 2021 December 31, 2020 Total assets: Global Solutions $ 2,135,865 $ 2,117,372 Global Products 1,408,495 1,135,209 Segment assets 3,544,360 3,252,581 Cash and cash equivalents 39,759 83,058 Consolidated total assets $ 3,584,119 $ 3,335,639 The following table presents net revenue by geographic area, which were attributed based on the location from which we ship products or provide services. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net revenue: United States $ 2,380,794 $ 2,101,074 $ 6,900,222 $ 5,872,143 International 121,381 86,854 417,947 246,197 Consolidated net revenue $ 2,502,175 $ 2,187,928 $ 7,318,169 $ 6,118,340

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted ASU No. 2019-12 effective beginning January 1, 2021. Its adoption did not have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments are effective for all entities as of March 12, 2020 through December 31, 2022. Our current debt agreements contemplate a transition from LIBOR to another benchmark rate in the event that LIBOR ceases to exist. We do not expect the transition to have a material impact on our consolidated financial statements. In October 2020, the FASB issued ASU No. 2020-10, Codification Improvements, to improve consistency by amending the FASB Accounting Standards Codification (the Codification) to include all disclosure guidance in the appropriate disclosure sections. This ASU also clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology. The amendments in this ASU do not change GAAP and, therefore, are not expected to result in a significant change in practice. We adopted ASU No. 2020-10 effective beginning January 1, 2021. Its adoption did not have a material impact on our consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Owens & Minor, Inc. and the subsidiaries it controls (we, us, or our) and contain all adjustments (which are comprised only of normal recurring accruals and use of estimates) necessary to conform with U.S. generally accepted accounting principles (GAAP). All significant intercompany accounts and transactions have been eliminated. The Movianto business
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make assumptions and estimates that affect reported amounts and related disclosures. Actual results may differ from these estimates.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted CashCash, cash equivalents and restricted cash includes cash and marketable securities with an original maturity or maturity at acquisition of three months or less. Cash, cash equivalents and restricted cash are stated at cost. Nearly all of our cash, cash equivalents and restricted cash are held in cash depository accounts in major banks in the United States, Europe, and Asia. Cash that is held by a major bank and has restrictions on its availability to us is classified as restricted cash. Restricted cash included in Other assets, net as of September 30, 2021 represents cash held in an escrow account as required by the Centers for Medicare & Medicaid Services (CMS) in conjunction with the Bundled Payments for Care Improvement (BPCI) initiatives.
Fair Value	The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable reported in the consolidated balance sheets approximate fair value due to the short-term nature of these instruments. The carrying amount of restricted cash also approximates fair value due to its nature. The fair value of debt is estimated based on quoted market prices or dealer quotes for the identical liability when traded as an asset in an active market (Level 1) or, if quoted market prices or dealer quotes are not available, on the borrowing rates currently available for loans with similar terms, credit ratings, and average remaining maturities (Level 2). See Note 6 for the fair value of debt. The fair value of foreign currency contracts is determined based on the present value of expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Observable Level 2 inputs are used to determine the present value of expected future cash flows. See Note 8 for the fair value of derivatives.
Segment Information	We periodically evaluate our application of accounting guidance for reportable segments and disclose information about reportable segments based on the way management organizes the enterprise for making operating decisions and assessing performance. We report our business under two segments: Global Solutions and Global Products. The Global Solutions segment includes our United States distribution businesses (Medical Distribution and Patient Direct), outsourced logistics and value-added services business. Global Products manufactures and sources medical surgical products through our production and kitting operations. We evaluate the performance of our segments based on their operating income excluding intangible amortization and acquisition-related and exit and realignment charges that, either as a result of their nature or size, would not be expected to occur as part of our normal business operations on a regular basis.
Recent Accounting Pronouncements	In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted ASU No. 2019-12 effective beginning January 1, 2021. Its adoption did not have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments are effective for all entities as of March 12, 2020 through December 31, 2022. Our current debt agreements contemplate a transition from LIBOR to another benchmark rate in the event that LIBOR ceases to exist. We do not expect the transition to have a material impact on our consolidated financial statements. In October 2020, the FASB issued ASU No. 2020-10, Codification Improvements, to improve consistency by amending the FASB Accounting Standards Codification (the Codification) to include all disclosure guidance in the appropriate disclosure sections. This ASU also clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology. The amendments in this ASU do not change GAAP and, therefore, are not expected to result in a significant change in practice. We adopted ASU No. 2020-10 effective beginning January 1, 2021. Its adoption did not have a material impact on our consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the accompanying consolidated balance sheets that sum to the total of those same amounts presented in the accompanying consolidated statements of cash flows. September 30, 2021 December 31, 2020 Cash and cash equivalents $ 39,759 $ 83,058 Restricted cash included in Other current assets — 35,126 Restricted cash included in Other assets, net 16,323 16,322 Total cash, cash equivalents, and restricted cash $ 56,082 $ 134,506
Schedule of Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the accompanying consolidated balance sheets that sum to the total of those same amounts presented in the accompanying consolidated statements of cash flows. September 30, 2021 December 31, 2020 Cash and cash equivalents $ 39,759 $ 83,058 Restricted cash included in Other current assets — 35,126 Restricted cash included in Other assets, net 16,323 16,322 Total cash, cash equivalents, and restricted cash $ 56,082 $ 134,506

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The following table summarizes the financial results of our discontinued operations for the three and nine months ended September 30, 2020: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Net revenue $ — $ 226,759 Cost of goods sold — 53,923 Gross margin — 172,836 Distribution, selling, and administrative expenses — 157,512 Loss on divestiture — 65,472 Acquisition-related and exit and realignment charges — 4,825 Other operating income, net — (388) Operating loss — (54,585) Interest expense, net — 3,144 Loss from discontinued operations before income taxes — (57,729) Income tax provision from discontinued operations — 474 Loss from discontinued operations, net of tax $ — $ (58,203) The following table provides operating and investing cash flow information for our discontinued operations: Nine Months Ended September 30, 2020 Operating Activities: Loss on divestiture $ 65,472 Investing Activities: Capital expenditures 3,027

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The following table summarizes the goodwill balances by segment and the changes in the carrying amount of goodwill through September 30, 2021: Global Solutions Global Products Consolidated Carrying amount of goodwill, December 31, 2020 $ 283,905 $ 110,181 $ 394,086 Currency translation adjustments — (7,393) (7,393) Carrying amount of goodwill, September 30, 2021 $ 283,905 $ 102,788 $ 386,693
Intangible Assets	Intangible assets at September 30, 2021 and December 31, 2020 were as follows: September 30, 2021 December 31, 2020 Customer Tradenames Other Customer Tradenames Other Gross intangible assets $ 265,527 $ 90,000 $ 43,313 $ 270,505 $ 90,000 $ 43,245 Accumulated amortization (139,632) (31,152) (18,267) (121,209) (24,881) (14,309) Net intangible assets $ 125,895 $ 58,848 $ 25,046 $ 149,296 $ 65,119 $ 28,936 Weighted average useful life 10 years 11 years 8 years 10 years 11 years 8 years

Exit and Realignment Costs (Tab

Exit and Realignment Costs (Tables)	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Summary Of Exit And Realignment Charges By Segment	Exit and realignment charges by segment for the three and nine months ended September 30, 2021 and 2020 were as follows: Three Months Ended Nine Months Ended September 30, 2021 2020 2021 2020 Global Solutions segment $ 5,352 $ 2,714 $ 16,166 $ 6,255 Global Products segment 1,028 2,877 4,801 3,364 Total exit and realignment charges $ 6,380 $ 5,591 $ 20,967 $ 9,619
Schedule Of Restructuring And Related Costs Accrual Activity	The following table summarizes the activity related to exit and realignment cost accruals through September 30, 2021 and 2020: Total Accrued exit and realignment costs, December 31, 2020 $ 3,146 Provision for exit and realignment activities: Information system restructuring costs 1,029 Lease obligations 347 Other 781 Cash payments (2,915) Accrued exit and realignment costs, March 31, 2021 2,388 Provision for exit and realignment activities: Information system restructuring costs 1,611 Lease obligations (126) Other 989 Cash payments (2,302) Accrued exit and realignment costs, June 30, 2021 2,560 Provision for exit and realignment activities: Information system restructuring costs 1,506 Lease obligations 107 Other 3,142 Cash payments (4,199) Accrued exit and realignment costs, September 30, 2021 $ 3,116 Accrued exit and realignment costs, December 31, 2019 $ 8,162 Provision for exit and realignment activities: Severance 1,391 Information system restructuring costs 183 Lease obligations 202 Other 53 Cash payments (5,799) Accrued exit and realignment costs, March 31, 2020 4,192 Provision for exit and realignment activities: Severance 809 Information system restructuring costs 671 Lease obligations 219 Other 501 Cash payments (2,072) Accrued exit and realignment costs, June 30, 2020 4,320 Provision for exit and realignment activities: Severance 1,950 Information system restructuring costs 77 Lease obligations 848 Other 2,716 Cash payments (7,083) Accrued exit and realignment costs, September 30, 2020 $ 2,828

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule Of Debt	Debt consists of the following: September 30, 2021 December 31, 2020 Carrying Estimated Carrying Estimated Term Loan A-2 $ — $ — $ 33,865 $ 34,390 Term Loan B — — 477,525 486,614 Receivables Securitization Program 196,683 200,000 152,929 155,100 4.375% Senior Notes, due December 2024 245,011 261,329 244,780 253,241 Revolver 12,300 12,300 103,200 103,200 4.500% Senior Notes, due March 2029 491,430 507,075 — — Finance leases and other 15,677 15,677 13,668 13,668 Total debt 961,101 996,381 1,025,967 1,046,213 Less current maturities (1,616) (1,616) (39,949) (40,453) Long-term debt $ 959,485 $ 994,765 $ 986,018 $ 1,005,760

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Schedule Of Components Of Net Periodic Benefit Cost For Domestic Retirement Plan	The components of net periodic benefit cost for the three and nine months ended September 30, 2021 and 2020 were as follows: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Service cost $ 693 $ 362 $ 2,106 $ 1,073 Interest cost 443 498 1,337 1,488 Recognized net actuarial loss 353 214 1,060 642 Net periodic benefit cost $ 1,489 $ 1,074 $ 4,503 $ 3,203

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule Of Derivative Instruments	The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of September 30, 2021: Derivative Assets Derivative Liabilities Notional Amount Maturity Date Classification Fair Value Classification Fair Value Economic (non-designated) hedges Foreign currency contracts $ 14,400 October 2021 Other current assets $ 92 Other current liabilities $ — The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of December 31, 2020: Derivative Assets Derivative Liabilities Notional Amount Maturity Date Classification Fair Value Classification Fair Value Cash flow hedges Interest rate swaps $ 300,000 May 2022 and May 2025 Other assets, net $ — Other liabilities $ 17,872 Economic (non-designated) hedges Foreign currency contracts $ 30,300 January 2021 Other current assets $ 151 Other current liabilities $ —
Schedule Of Cash Flow Hedges Included In Accumulated Other Comprehensive Income (Loss)	The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the three and nine months ended September 30, 2021: Amount of Gain Recognized in Other Comprehensive Income (Loss) Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of Expense Line Items Presented in the Consolidated Statement of Operations in Which the Effects are Recorded Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Interest rate swaps $ — $ 2,426 Loss on extinguishment of debt $ — $ (40,433) $ — $ (25,518) The amount of ineffectiveness associated with these contracts was immaterial for the periods presented. The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the three and nine months ended September 30, 2020: Amount of Loss Recognized in Other Comprehensive Income (Loss) Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of Expense Line Items Presented in the Consolidated Statement of Operations in Which the Effects are Recorded Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Interest rate swaps $ (515) $ (19,913) Interest expense, net $ (20,975) $ (65,923) $ (3,028) $ (6,889) The amount of ineffectiveness associated with these contracts was immaterial for the periods presented.

Net Income (Loss) per Common _2

Net Income (Loss) per Common Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Summary Of Calculation Of Net Income (Loss) Per Common Share	The following summarizes the calculation of net income (loss) per common share attributable to common shareholders for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended (in thousands, except per share data) 2021 2020 2021 2020 Income from continuing operations, net of tax $ 44,129 $ 46,081 $ 179,614 $ 37,332 Loss from discontinued operations, net of tax — — — (58,203) Net income (loss) $ 44,129 $ 46,081 $ 179,614 $ (20,871) Weighted average shares outstanding - basic 73,215 60,786 72,649 60,983 Dilutive shares 2,743 137 2,754 — Weighted average shares outstanding - diluted 75,958 60,923 75,403 60,983 Basic income (loss) per common share: Income from continuing operations $ 0.60 $ 0.76 $ 2.47 $ 0.61 Loss from discontinued operations — — — (0.95) Net income (loss) $ 0.60 $ 0.76 $ 2.47 $ (0.34) Diluted income (loss) per common share: Income from continuing operations $ 0.58 $ 0.76 $ 2.38 $ 0.61 Loss from discontinued operations — — — (0.95) Net income (loss) $ 0.58 $ 0.76 $ 2.38 $ (0.34)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Changes In Accumulated Other Comprehensive Loss By Component	The following table shows the changes in accumulated other comprehensive loss by component for the three and nine months ended September 30, 2021 and 2020: Retirement Plans Currency Derivatives Total Accumulated other comprehensive loss, June 30, 2021 $ (18,290) $ (14,728) $ — $ (33,018) Other comprehensive loss before reclassifications — (12,014) — (12,014) Income tax — — — — Other comprehensive loss before reclassifications, net of tax — (12,014) — (12,014) Amounts reclassified from accumulated other comprehensive loss 500 — — 500 Income tax (105) — — (105) Amounts reclassified from accumulated other comprehensive loss, net of tax 395 — — 395 Other comprehensive income (loss) 395 (12,014) — (11,619) Accumulated other comprehensive loss, September 30, 2021 $ (17,895) $ (26,742) $ — $ (44,637) Retirement Plans Currency Translation Adjustments Derivatives Total Accumulated other comprehensive loss, June 30, 2020 $ (13,926) $ (23,471) $ (24,188) $ (61,585) Other comprehensive income (loss) before reclassifications — 5,173 (516) 4,657 Income tax — — 40 40 Other comprehensive income (loss) before reclassifications, net of tax — 5,173 (476) 4,697 Amounts reclassified from accumulated other comprehensive loss 214 — 3,028 3,242 Income tax (47) — (871) (918) Amounts reclassified from accumulated other comprehensive loss, net of tax 167 — 2,157 2,324 Other comprehensive income 167 5,173 1,681 7,021 Accumulated other comprehensive loss, September 30, 2020 $ (13,759) $ (18,298) $ (22,507) $ (54,564) Retirement Plans Currency Derivatives Total Accumulated other comprehensive loss, December 31, 2020 $ (18,447) $ (18) $ (20,044) $ (38,509) Other comprehensive (loss) income before reclassifications — (26,724) 2,426 (24,298) Income tax — — (611) (611) Other comprehensive (loss) income before reclassifications, net of tax — (26,724) 1,815 (24,909) Amounts reclassified from accumulated other comprehensive loss 704 — 25,518 26,222 Income tax (152) — (7,289) (7,441) Amounts reclassified from accumulated other comprehensive loss, net of tax 552 — 18,229 18,781 Other comprehensive income (loss) 552 (26,724) 20,044 (6,128) Accumulated other comprehensive loss, September 30, 2021 $ (17,895) $ (26,742) $ — $ (44,637) Retirement Plans Currency Translation Adjustments Derivatives Total Accumulated other comprehensive loss, December 31, 2019 $ (14,691) $ (25,301) $ (12,715) $ (52,707) Other comprehensive loss before reclassifications — (8,577) (19,913) (28,490) Income tax — — 5,113 5,113 Other comprehensive loss before reclassifications, net of tax — (8,577) (14,800) (23,377) Amounts reclassified from accumulated other comprehensive loss 1,067 15,580 6,889 23,536 Income tax (135) — (1,881) (2,016) Amounts reclassified from accumulated other comprehensive loss, net of tax 932 15,580 5,008 21,520 Other comprehensive income (loss) 932 7,003 (9,792) (1,857) Accumulated other comprehensive loss, September 30, 2020 $ (13,759) $ (18,298) $ (22,507) $ (54,564)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Financial Information By Segment	The following tables present financial information by segment: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net revenue: Segment net revenue Global Solutions $ 2,022,919 $ 1,865,182 $ 5,850,007 $ 5,261,415 Global Products 679,067 473,797 2,026,385 1,235,391 Total segment net revenue 2,701,986 2,338,979 7,876,392 6,496,806 Inter-segment revenue Global Products (199,811) (151,051) (558,223) (378,466) Total inter-segment revenue (199,811) (151,051) (558,223) (378,466) Consolidated net revenue $ 2,502,175 $ 2,187,928 $ 7,318,169 $ 6,118,340 Operating income: Global Solutions $ 20,366 $ 10,972 $ 47,729 $ 8,522 Global Products 51,327 89,923 310,242 160,268 Inter-segment eliminations 7,587 (8,718) (475) (10,322) Intangible amortization (10,025) (10,242) (30,077) (31,463) Acquisition-related and exit and realignment charges (6,380) (6,382) (20,967) (18,500) Consolidated operating income $ 62,875 $ 75,553 $ 306,452 $ 108,505 Depreciation and amortization: Global Solutions $ 9,951 $ 9,572 $ 29,678 $ 31,273 Global Products 12,691 11,118 38,464 38,221 Consolidated depreciation and amortization $ 22,642 $ 20,690 $ 68,142 $ 69,494 Capital expenditures: Global Solutions $ 5,752 $ 3,582 $ 14,776 $ 7,545 Global Products 8,192 10,656 17,849 15,808 Discontinued operations — — — 3,027 Consolidated capital expenditures $ 13,944 $ 14,238 $ 32,625 $ 26,380
Consolidated Total Assets	September 30, 2021 December 31, 2020 Total assets: Global Solutions $ 2,135,865 $ 2,117,372 Global Products 1,408,495 1,135,209 Segment assets 3,544,360 3,252,581 Cash and cash equivalents 39,759 83,058 Consolidated total assets $ 3,584,119 $ 3,335,639
Schedule Of Revenue From External Customers And Long-lived Assets, By Geographical	The following table presents net revenue by geographic area, which were attributed based on the location from which we ship products or provide services. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net revenue: United States $ 2,380,794 $ 2,101,074 $ 6,900,222 $ 5,872,143 International 121,381 86,854 417,947 246,197 Consolidated net revenue $ 2,502,175 $ 2,187,928 $ 7,318,169 $ 6,118,340

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 39,759	$ 83,058
Restricted cash included in Other current assets	0	35,126
Restricted cash included in Other assets, net	16,323	16,322
Total cash, cash equivalents, and restricted cash	$ 56,082	$ 134,506	$ 227,479	$ 84,687

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - Movianto - Discontinued Operations, Held-for-sale - USD ($)	Sep. 30, 2021	Dec. 31, 2020	Jun. 18, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration			$ 133,000,000
Total assets of discontinued operations	$ 0	$ 0
Total liabilities of discontinued operations	$ 0	$ 0

Discontinued Operations - Summa

Discontinued Operations - Summary of Financial Results of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of tax	$ 0	$ 0	$ 0	$ (58,203)
Movianto | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue		0		226,759
Cost of goods sold		0		53,923
Gross margin		0		172,836
Distribution, selling, and administrative expenses		0		157,512
Loss on divestiture		0		65,472
Acquisition-related and exit and realignment charges		0		4,825
Other operating income, net		0		(388)
Operating loss		0		(54,585)
Interest expense, net		0		3,144
Loss from discontinued operations before income taxes		0		(57,729)
Income tax provision from discontinued operations		0		474
Loss from discontinued operations, net of tax		$ 0		$ (58,203)

Discontinued Operations - Sched

Discontinued Operations - Schedule of Cash Flow Information for Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investing Activities:
Capital expenditures	$ 0	$ 0	$ 0	$ 3,027
Movianto | Discontinued Operations, Held-for-sale
Operating Activities:
Loss on divestiture				65,472
Investing Activities:
Capital expenditures				$ 3,027

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Carrying amount of goodwill, December 31, 2020	$ 394,086
Currency translation adjustments	(7,393)
Carrying amount of goodwill, September 30, 2021	386,693
Global Solutions segment
Goodwill [Roll Forward]
Carrying amount of goodwill, December 31, 2020	283,905
Currency translation adjustments	0
Carrying amount of goodwill, September 30, 2021	283,905
Global Products segment
Goodwill [Roll Forward]
Carrying amount of goodwill, December 31, 2020	110,181
Currency translation adjustments	(7,393)
Carrying amount of goodwill, September 30, 2021	$ 102,788

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Net intangible assets	$ 209,789	$ 243,351
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	265,527	270,505
Accumulated amortization	(139,632)	(121,209)
Net intangible assets	$ 125,895	$ 149,296
Weighted average useful life (in years)	10 years	10 years
Tradenames
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 90,000	$ 90,000
Accumulated amortization	(31,152)	(24,881)
Net intangible assets	$ 58,848	$ 65,119
Weighted average useful life (in years)	11 years	11 years
Other Intangibles
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 43,313	$ 43,245
Accumulated amortization	(18,267)	(14,309)
Net intangible assets	$ 25,046	$ 28,936
Weighted average useful life (in years)	8 years	8 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 209,789		$ 209,789		$ 243,351
Amortization expense for intangible assets	10,000	$ 10,200	30,100	$ 31,500
Estimated amortization expense for the remainder of 2021	10,000		10,000
Estimated amortization expense for 2022	39,000		39,000
Estimated amortization expense for 2023	39,000		39,000
Estimated amortization expense for 2024	34,000		34,000
Estimated amortization expense for 2025	28,000		28,000
Estimated amortization expense for 2026	27,000		27,000
Global Solutions segment
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	51,100		51,100
Global Products segment
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 159,000		$ 159,000

Exit and Realignment Costs - Ex

Exit and Realignment Costs - Exit and realignment charges by segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Exit and realignment charges	$ 6,380	$ 5,591	$ 20,967	$ 9,619
Global Solutions segment
Restructuring Cost and Reserve [Line Items]
Exit and realignment charges	5,352	2,714	16,166	6,255
Global Products segment
Restructuring Cost and Reserve [Line Items]
Exit and realignment charges	$ 1,028	$ 2,877	$ 4,801	$ 3,364

Exit and Realignment Costs - Ac

Exit and Realignment Costs - Accrual for Exit and Realignment Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Restructuring Reserve [Roll Forward]
Accrued exit and realignment costs, beginning of period	$ 2,560	$ 2,388	$ 3,146	$ 4,320	$ 4,192	$ 8,162
Cash payments	(4,199)	(2,302)	(2,915)	(7,083)	(2,072)	(5,799)
Accrued exit and realignment costs, end of period	3,116	2,560	2,388	2,828	4,320	4,192
Severance
Restructuring Reserve [Roll Forward]
Provision for exit and realignment activities:				1,950	809	1,391
Information system restructuring costs
Restructuring Reserve [Roll Forward]
Provision for exit and realignment activities:	1,506	1,611	1,029	77	671	183
Lease obligations
Restructuring Reserve [Roll Forward]
Provision for exit and realignment activities:	107	(126)	347	848	219	202
Other
Restructuring Reserve [Roll Forward]
Provision for exit and realignment activities:	$ 3,142	$ 989	$ 781	$ 2,716	$ 501	$ 53

Exit and Realignment Costs - Na

Exit and Realignment Costs - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Incurred cost	$ 1,600,000		$ 11,600,000
Reserves associated with certain retained assets			19,270,000	$ 9,583,000
Acquisition-related and exit and realignment charges	6,380,000	$ 6,382,000	20,967,000	18,500,000
Haylard Acquisition
Restructuring Cost and Reserve [Line Items]
Acquisition-related and exit and realignment charges		$ 800,000		$ 8,900,000
Acquisition Related, Exit and Realignment Charges
Restructuring Cost and Reserve [Line Items]
Acquisition-related and exit and realignment charges	0		0
Fusion5
Restructuring Cost and Reserve [Line Items]
Reserves associated with certain retained assets	$ 1,500,000		$ 9,600,000

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt	$ 959,485	$ 986,018
Senior Notes | 4.375% Senior Notes, due December 2024
Debt Instrument [Line Items]
Interest rate of debt	4.375%
Senior Notes | 4.500% Senior Notes, due March 2029
Debt Instrument [Line Items]
Interest rate of debt	4.50%
Carrying Amount
Debt Instrument [Line Items]
Total debt	$ 961,101	1,025,967
Less current maturities	(1,616)	(39,949)
Long-term debt	959,485	986,018
Carrying Amount | Finance leases and other
Debt Instrument [Line Items]
Finance leases and other	15,677	13,668
Carrying Amount | Term Loan | Term Loan A-2
Debt Instrument [Line Items]
Total debt	0	33,865
Carrying Amount | Term Loan | Term Loan B
Debt Instrument [Line Items]
Total debt	0	477,525
Carrying Amount | Secured Debt | Receivables Securitization Program
Debt Instrument [Line Items]
Total debt	196,683	152,929
Carrying Amount | Senior Notes | 4.375% Senior Notes, due December 2024
Debt Instrument [Line Items]
Total debt	245,011	244,780
Carrying Amount | Senior Notes | 4.500% Senior Notes, due March 2029
Debt Instrument [Line Items]
Total debt	491,430	0
Carrying Amount | Revolver | Revolver
Debt Instrument [Line Items]
Total debt	12,300	103,200
Estimated Fair Value
Debt Instrument [Line Items]
Total debt	996,381	1,046,213
Less current maturities	(1,616)	(40,453)
Long-term debt	994,765	1,005,760
Estimated Fair Value | Finance leases and other
Debt Instrument [Line Items]
Finance leases and other	15,677	13,668
Estimated Fair Value | Term Loan | Term Loan A-2
Debt Instrument [Line Items]
Total debt	0	34,390
Estimated Fair Value | Term Loan | Term Loan B
Debt Instrument [Line Items]
Total debt	0	486,614
Estimated Fair Value | Secured Debt | Receivables Securitization Program
Debt Instrument [Line Items]
Total debt	200,000	155,100
Estimated Fair Value | Senior Notes | 4.375% Senior Notes, due December 2024
Debt Instrument [Line Items]
Total debt	261,329	253,241
Estimated Fair Value | Senior Notes | 4.500% Senior Notes, due March 2029
Debt Instrument [Line Items]
Total debt	507,075	0
Estimated Fair Value | Revolver | Revolver
Debt Instrument [Line Items]
Total debt	$ 12,300	$ 103,200

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2021	Sep. 30, 2021	Mar. 10, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Write off of deferred debt issuance cost		$ 0	$ 15,300,000
Short-term finance leases		1,600,000	1,600,000
Revolver
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 300,000,000
Borrowings outstanding					$ 103,000,000
Remaining borrowing capacity		278,000,000	278,000,000		283,000,000
Replaced Line of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		2,200,000	2,200,000
2024 Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 246,000,000	$ 246,000,000
4.375% Senior Notes, due December 2024 | Senior Notes
Debt Instrument [Line Items]
Interest rate of debt		4.375%	4.375%
Debt issued, percent of par			99.60%
Effective yield percentage		4.422%	4.422%
Redemption price, percentage			100.00%
Rate of interest discounted			0.30%
4.500% Senior Notes, due March 2029 | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 500,000,000	$ 500,000,000
Interest rate of debt		4.50%	4.50%
Debt issued, percent of par	100.00%
Effective yield percentage		4.50%	4.50%
Redemption price, percentage			100.00%
4.500% Senior Notes, due March 2029 | Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage			104.50%
Redemption price, percentage of principal amount redeemed			40.00%
Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 9,400,000	$ 9,400,000		13,900,000
European Lease Agreement | Replaced Line of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount					$ 1,600,000
Long-term debt, maturities, repayments of principal in 2024		446,000,000	446,000,000
Long-term debt, maturities, repayments of principal in 2026		12,300,000	12,300,000
Long-term debt, maturities, repayments of principal in 2029		$ 500,000,000	$ 500,000,000
Maximum | Receivables Securitization Program
Debt Instrument [Line Items]
Debt instrument, face amount				$ 450,000,000

Retirement Plans - Components o

Retirement Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Retirement Benefits [Abstract]
Service cost	$ 693	$ 362	$ 2,106	$ 1,073
Interest cost	443	498	1,337	1,488
Recognized net actuarial loss	353	214	1,060	642
Net periodic benefit cost	$ 1,489	$ 1,074	$ 4,503	$ 3,203
Defined Benefit Plan, Type [Extensible Enumeration]			Pension Plan [Member]

Derivatives - Summary of the te

Derivatives - Summary of the terms and fair value of our outstanding derivative financial instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Economic (non-designated) hedges | Foreign currency contracts
Derivative [Line Items]
Notional Amount	$ 14,400	$ 30,300
Designated as Hedging Instrument | Cash flow hedging | Interest rate swaps
Derivative [Line Items]
Notional Amount		300,000
Other current assets | Economic (non-designated) hedges | Foreign currency contracts
Derivative [Line Items]
Derivative Asset, fair value	92	151
Other current liabilities | Economic (non-designated) hedges | Foreign currency contracts
Derivative [Line Items]
Derivative liabilities, fair value	$ 0	0
Other assets, net | Designated as Hedging Instrument | Cash flow hedging | Interest rate swaps
Derivative [Line Items]
Derivative Asset, fair value		0
Other liabilities | Designated as Hedging Instrument | Cash flow hedging | Interest rate swaps
Derivative [Line Items]
Derivative liabilities, fair value		$ 17,872

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Derivative [Line Items]
Loss on derivative not designed as hedging instrument	$ 0.9	$ 0.9	$ 2.5	$ 2.3
Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Derivative, terminated notional value		$ 150		$ 150	$ 300
Designated as Hedging Instrument | Interest rate swaps | Loss On Extinguishment Of Debt
Derivative [Line Items]
Derivative, terminated notional value	$ 25.1		$ 25.1

Derivatives - Summary of the ef

Derivatives - Summary of the effect of cash flow hedge (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Loss on extinguishment of debt	$ 0	$ (308)	$ (40,433)	$ (2,580)
Interest expense, net	(11,572)	(20,975)	(36,784)	(65,923)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain Recognized in Other Comprehensive Income (Loss)	0	(515)	2,426	(19,913)
Loss on extinguishment of debt
Derivative Instruments, Gain (Loss) [Line Items]
Loss on extinguishment of debt	0		(40,433)
Loss on extinguishment of debt | Interest rate swaps | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income	$ 0		$ (25,518)
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense, net		(20,975)		(65,923)
Interest expense, net | Interest rate swaps | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income		$ (3,028)		$ (6,889)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	12.60%	13.80%	20.80%	9.40%
Liability for unrecognized tax benefit	$ 23		$ 23		$ 20.8
Unrecognized tax benefit highly certain	$ 2.7		$ 2.7		$ 2.7

Net Income (Loss) per Common _3

Net Income (Loss) per Common Share - Summary of Calculation of Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Income from continuing operations, net of tax	$ 44,129			$ 46,081			$ 179,614	$ 37,332
Loss from discontinued operations, net of tax	0			0			0	(58,203)
Net income (loss)	$ 44,129	$ 65,896	$ 69,589	$ 46,081	$ (55,627)	$ (11,324)	$ 179,614	$ (20,871)
Weighted average number of shares outstanding, basic (in shares)	73,215			60,786			72,649	60,983
Diluted shares (in shares)	2,743			137			2,754	0
Weighted average number of shares outstanding, diluted (in shares)	75,958			60,923			75,403	60,983
Basic income (loss) per common share:
Income (loss) from continuing operations (in usd per share)	$ 0.60			$ 0.76			$ 2.47	$ 0.61
Loss from discontinued operations (in usd per share)	0			0			0	(0.95)
Net income (loss)	0.60			0.76			2.47	(0.34)
Diluted income (loss) per common share:
Income (loss) from continuing operations (in usd per share)	0.58			0.76			2.38	0.61
Loss from discontinued operations (in usd per share)	0			0			0	(0.95)
Net income (loss)	$ 0.58			$ 0.76			$ 2.38	$ (0.34)

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - Equity Distribution Agreement - USD ($)	1 Months Ended	9 Months Ended
	May 31, 2020	Sep. 30, 2021
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)		0
Aggregate offering price, remaining available amount		$ 50,000,000
Common Stock
Class of Stock [Line Items]
Aggregate offering price	$ 50,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Loss by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ 848,019	$ 395,162	$ 712,054	$ 462,154
Other comprehensive loss before reclassifications	(12,014)	4,657	(24,298)	(28,490)
Income tax	0	40	(611)	5,113
Other comprehensive loss before reclassifications, net of tax	(12,014)	4,697	(24,909)	(23,377)
Amounts reclassified from accumulated other comprehensive loss	500	3,242	26,222	23,536
Income tax	(105)	(918)	(7,441)	(2,016)
Amounts reclassified from accumulated other comprehensive loss, net of tax	395	2,324	18,781	21,520
Total other comprehensive income (loss), net of tax	(11,619)	7,021	(6,128)	(1,857)
Ending Balance	887,005	451,335	887,005	451,335
Retirement Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(18,290)	(13,926)	(18,447)	(14,691)
Other comprehensive loss before reclassifications	0	0	0	0
Income tax	0	0	0	0
Other comprehensive loss before reclassifications, net of tax	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	500	214	704	1,067
Income tax	(105)	(47)	(152)	(135)
Amounts reclassified from accumulated other comprehensive loss, net of tax	395	167	552	932
Total other comprehensive income (loss), net of tax	395	167	552	932
Ending Balance	(17,895)	(13,759)	(17,895)	(13,759)
Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(14,728)	(23,471)	(18)	(25,301)
Other comprehensive loss before reclassifications	(12,014)	5,173	(26,724)	(8,577)
Income tax	0	0	0	0
Other comprehensive loss before reclassifications, net of tax	(12,014)	5,173	(26,724)	(8,577)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	15,580
Income tax	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss, net of tax	0	0	0	15,580
Total other comprehensive income (loss), net of tax	(12,014)	5,173	(26,724)	7,003
Ending Balance	(26,742)	(18,298)	(26,742)	(18,298)
Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	0	(24,188)	(20,044)	(12,715)
Other comprehensive loss before reclassifications	0	(516)	2,426	(19,913)
Income tax	0	40	(611)	5,113
Other comprehensive loss before reclassifications, net of tax	0	(476)	1,815	(14,800)
Amounts reclassified from accumulated other comprehensive loss	0	3,028	25,518	6,889
Income tax	0	(871)	(7,289)	(1,881)
Amounts reclassified from accumulated other comprehensive loss, net of tax	0	2,157	18,229	5,008
Total other comprehensive income (loss), net of tax	0	1,681	20,044	(9,792)
Ending Balance	0	(22,507)	0	(22,507)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(33,018)	(61,585)	(38,509)	(52,707)
Ending Balance	$ (44,637)	$ (54,564)	$ (44,637)	$ (54,564)

Segment Information - Financial

Segment Information - Financial Information by Segment (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			2
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	$ 2,502,175	$ 2,187,928	$ 7,318,169	$ 6,118,340
Operating earnings (loss):	62,875	75,553	306,452	108,505
Intangible amortization	(10,000)	(10,200)	(30,100)	(31,500)
Acquisition-related and exit and realignment charges	(6,380)	(6,382)	(20,967)	(18,500)
Consolidated depreciation and amortization	22,642	20,690	68,142	69,494
Discontinued operations	0	0	0	3,027
Consolidated capital expenditures	13,944	14,238	32,625	26,380
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	2,701,986	2,338,979	7,876,392	6,496,806
Operating Segments | Global Solutions
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	2,022,919	1,865,182	5,850,007	5,261,415
Operating earnings (loss):	20,366	10,972	47,729	8,522
Depreciation and amortization:	9,951	9,572	29,678	31,273
Capital expenditures:	5,752	3,582	14,776	7,545
Operating Segments | Global Products
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	679,067	473,797	2,026,385	1,235,391
Operating earnings (loss):	51,327	89,923	310,242	160,268
Depreciation and amortization:	12,691	11,118	38,464	38,221
Capital expenditures:	8,192	10,656	17,849	15,808
Intersegment Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	(199,811)	(151,051)	(558,223)	(378,466)
Operating earnings (loss):	7,587	(8,718)	(475)	(10,322)
Intersegment Eliminations | Global Products
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	(199,811)	(151,051)	(558,223)	(378,466)
Segment Reconciling Items
Segment Reporting, Revenue Reconciling Item [Line Items]
Intangible amortization	(10,025)	(10,242)	(30,077)	(31,463)
Acquisition-related and exit and realignment charges	$ (6,380)	$ (6,382)	$ (20,967)	$ (18,500)

Segment Information - Consolida

Segment Information - Consolidated Total Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 3,584,119	$ 3,335,639
Cash and cash equivalents	39,759	83,058
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,544,360	3,252,581
Operating Segments | Global Solutions
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,135,865	2,117,372
Operating Segments | Global Products
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,408,495	$ 1,135,209

Segment Information - Net reven

Segment Information - Net revenue by geographic area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Net revenue	$ 2,502,175	$ 2,187,928	$ 7,318,169	$ 6,118,340
United States
Segment Reporting Information [Line Items]
Net revenue	2,380,794	2,101,074	6,900,222	5,872,143
International
Segment Reporting Information [Line Items]
Net revenue	$ 121,381	$ 86,854	$ 417,947	$ 246,197