CONMED (CNMD) 10-Q 28 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 26, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	CONMED CORP
Entity Central Index Key	816,956
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		27,817,843

Consolidated Condensed Statemen

Consolidated Condensed Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net sales	$ 193,433	$ 181,027	$ 374,634	$ 358,967
Cost of sales	91,011	87,529	174,472	173,187
Gross profit	102,422	93,498	200,162	185,780
Selling and administrative expense	86,729	73,581	172,672	148,367
Research and development expense	8,009	7,501	16,267	14,043
Total operating expenses	94,738	81,082	188,939	162,410
Income from operations	7,684	12,416	11,223	23,370
Other expense	0	0	2,942	0
Interest expense	3,757	1,489	7,587	2,949
Income before income taxes	3,927	10,927	694	20,421
Provision for income taxes	1,043	3,466	75	6,648
Net income	2,884	7,461	619	13,773
Comprehensive income	$ 1,345	$ 8,630	$ 2,132	$ 4,915
Per share data:
Basic (in dollars per share)	$ 0.10	$ 0.27	$ 0.02	$ 0.50
Diluted (in dollars per share)	0.10	0.27	0.02	0.49
Dividends per share of common stock (in dollars per share)	$ 0.20	$ 0.20	$ 0.40	$ 0.40
Weighted average common shares:
Basic (shares)	27,776	27,620	27,753	27,603
Diluted (shares)	27,941	27,857	27,926	27,839

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 23,295	$ 72,504
Accounts receivable, net	139,620	133,863
Inventories	179,913	166,894
Prepaid expenses and other current assets	28,172	20,076
Total current assets	371,000	393,337
Property, plant and equipment, net	125,381	125,452
Goodwill	398,154	260,651
Other intangible assets, net	428,960	308,171
Other assets	15,339	14,089
Total assets	1,338,834	1,101,700
LIABILITIES AND SHAREHOLDERS' EQUITY
Current portion of long-term debt	10,145	1,339
Accounts payable	32,033	34,720
Accrued compensation and benefits	30,173	31,823
Other current liabilities	33,870	51,836
Total current liabilities	106,221	119,718
Long-term debt	508,639	269,471
Deferred income taxes	118,861	103,379
Other long-term liabilities	25,380	24,059
Total liabilities	759,101	516,627
Commitments and contingencies
Preferred stock, par value $.01 per share; authorized 500,000 shares; none outstanding	0	0
Common stock, par value $.01 per share; 100,000,000 shares authorized; 31,299,194 shares issued in 2016 and 2015, respectively	313	313
Paid-in capital	325,608	324,915
Retained earnings	404,017	414,506
Accumulated other comprehensive loss	(52,381)	(53,894)
Less: 3,485,571 and 3,590,409 shares of common stock in treasury, at cost in 2016 and 2015, respectively	(97,824)	(100,767)
Total shareholders' equity	579,733	585,073
Total liabilities and shareholders' equity	$ 1,338,834	$ 1,101,700

Consolidated Condensed Balance4

Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares outstanding	0	0
Common stock, par value (dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	31,299,194	31,299,194
Treasury stock, shares	3,485,571	3,590,409

Consolidated Condensed Stateme5

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income	$ 619	$ 13,773
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	9,941	9,196
Amortization	17,350	11,885
Stock-based compensation	4,583	3,779
Deferred income taxes	(4,342)	2,176
Loss on early extinguishment of debt	254	0
Increase (decrease) in cash flows from changes in assets and liabilities, net of acquired assets:
Accounts receivable	4,929	(3,571)
Inventories	(10,486)	(8,003)
Accounts payable	(7,633)	3,863
Accrued compensation and benefits	(4,758)	(6,078)
Other assets	(5,374)	2,603
Other liabilities	(5,206)	(4,568)
Total operating	(742)	11,282
Net cash provided by (used in) operating activities	(123)	25,055
Cash flows from investing activities:
Purchases of property, plant and equipment	(7,667)	(7,783)
Payments related to business acquisitions, net of cash acquired	(256,450)	(6,104)
Net cash used in investing activities	(264,117)	(13,887)
Cash flows from financing activities:
Payments on senior credit agreement	(4,376)	0
Proceeds from senior credit agreement	253,015	19,000
Payments related to distribution agreement	(16,667)	(16,667)
Payments related to contingent consideration	(200)	(2,423)
Payments related to debt issuance costs	(5,556)	(1,410)
Dividends paid on common stock	(11,088)	(11,026)
Other, net	209	1,461
Net cash provided by (used in) financing activities	215,337	(11,065)
Effect of exchange rate changes on cash and cash equivalents	(306)	(4,219)
Net decrease in cash and cash equivalents	(49,209)	(4,116)
Cash and cash equivalents at beginning of period	72,504	66,332
Cash and cash equivalents at end of period	23,295	62,216
Non-cash financing activities:
Dividends payable	$ 5,561	$ 5,539

Operations

Operations	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations	Operations CONMED Corporation (“CONMED”, the “Company”, “we” or “us”) is a medical technology company that provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a variety of specialties including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.

Interim Financial Information

Interim Financial Information	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim financial information	Interim Financial Information The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for annual financial statements. Results for the period ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . The consolidated condensed financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes for the year ended December 31, 2015 included in our Annual Report on Form 10-K.

Business Acquisition

Business Acquisition	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Business Acquisition	Business Acquisition On January 4, 2016, we acquired all of the stock of SurgiQuest, Inc. ("SurgiQuest") for $257.7 million in cash (based on an aggregate purchase price of $265 million as adjusted pursuant to the merger agreement governing the acquisition). SurgiQuest develops, manufactures and markets the AirSeal ® System, the first integrated access management technology for use in laparoscopic and robotic procedures. This proprietary and differentiated access system is complementary to our current advanced surgical offering. The acquisition was funded through a combination of cash on hand and long-term borrowings. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as a result of the SurgiQuest acquisition. The assessment of fair value is preliminary and is based on information that was available to management at the time the consolidated condensed financial statements were prepared. Accordingly, the allocation of purchase price is preliminary and therefore subject to adjustment in future periods. Cash $ 1,305 Other current assets 16,681 Current assets 17,986 Property, plant & equipment 3,332 Goodwill 136,358 Customer and distributor relationships 76,420 Developed technology 49,600 Trademarks & tradenames 4,780 Other non-current assets 302 Total assets acquired $ 288,778 Current liabilities assumed 10,586 Deferred income taxes 20,009 Other long-term liabilities 454 Total liabilities assumed 31,049 Net assets acquired $ 257,729 The goodwill recorded as part of the acquisition primarily represents revenue synergies, as well as operating efficiencies and cost savings. Goodwill deductible for tax purposes is $11.5 million . The weighted amortization period for intangibles acquired is 20 years. Customer and distributor relationships, developed technology and trademarks and tradenames are being amortized over a weighted average life of 22 , 17 and 23 years, respectively. The unaudited pro forma information for the three and six months ended June 30, 2016 and 2015 , assuming SurgiQuest occurred as of January 1, 2015 are presented below. This information has been prepared for comparative purposes only and does not purport to be indicative of the results of operations which actually would have resulted had the SurgiQuest acquisition occurred on the dates indicated, or which may result in the future. Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net sales $ 193,433 $ 194,565 $ 374,634 $ 381,889 Net income 6,337 (808 ) 12,659 (7,665 ) These pro forma results include certain adjustments, primarily due to increases in amortization expense due to fair value adjustments of intangible assets, increases in interest expense due to additional borrowings incurred to finance the acquisition, and acquisition related costs including transaction costs such as legal, accounting, valuation and other professional services as well as integration costs such as severance and retention. Acquisition related costs included in the determination of pro forma net income for the three and six months ended June 30, 2015 totaled $5.0 million and $14.0 million , respectively. Such amounts are excluded from the determination of pro forma net income for the three and six months ended June 30, 2016 . Net sales associated with SurgiQuest of $18.5 million and $31.2 million have been recorded in the consolidated condensed statements of comprehensive income for the three and six months ended June 30, 2016 , respectively. It is impracticable to determine the earnings recorded in the consolidated condensed statements of comprehensive income associated with the SurgiQuest acquisition for the three and six months ended June 30, 2016 as these amounts are not separately measured.

Comprehensive Income

Comprehensive Income	6 Months Ended
	Jun. 30, 2016
Comprehensive Income [Abstract]
Comprehensive Income	Comprehensive Income Comprehensive income consists of the following: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net income $ 2,884 $ 7,461 $ 619 $ 13,773 Other comprehensive income: Pension liability, net of income tax (income tax expense of $257 and $297 for the three months ended June 30, 2016 and 2015, respectively, and $514 and $598 for the six months ended June 30, 2016 and 2015, respectively) 438 507 876 1,019 Cash flow hedging gain (loss), net of income tax (income tax expense (benefit) of $666 and ($1,499) for the three months ended June 30, 2016 and 2015, respectively, and ($633) and ($349) for the six months ended June 30, 2016 and 2015, respectively) 1,137 (2,557 ) (1,080 ) (595 ) Foreign currency translation adjustment (3,114 ) 3,219 1,717 (9,282 ) Comprehensive income $ 1,345 $ 8,630 $ 2,132 $ 4,915 Accumulated other comprehensive loss consists of the following: Cash Flow Hedging Gain (Loss) Pension Liability Cumulative Translation Adjustments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2015 $ 1,201 $ (25,982 ) $ (29,113 ) $ (53,894 ) Other comprehensive income (loss) before reclassifications, net of tax (750 ) — 1,717 967 Amounts reclassified from accumulated other comprehensive income (loss) before tax a (524 ) 1,390 — 866 Income tax provision (benefit) 194 (514 ) — (320 ) Net current-period other comprehensive income (loss) (1,080 ) 876 1,717 1,513 Balance, June 30, 2016 $ 121 $ (25,106 ) $ (27,396 ) $ (52,381 ) Cash Flow Hedging Gain (Loss) Pension Liability Cumulative Translation Adjustments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2014 $ 3,276 $ (30,760 ) $ (12,338 ) $ (39,822 ) Other comprehensive income (loss) before reclassifications, net of tax 2,583 — (9,282 ) (6,699 ) Amounts reclassified from accumulated other comprehensive income before tax a (5,040 ) 1,617 — (3,423 ) Income tax provision (benefit) 1,862 (598 ) — 1,264 Net current-period other comprehensive income (loss) (595 ) 1,019 (9,282 ) (8,858 ) Balance, June 30, 2015 $ 2,681 $ (29,741 ) $ (21,620 ) $ (48,680 ) (a) The cash flow hedging gain (loss) and pension liability accumulated other comprehensive income (loss) components are included in sales or cost of sales and as a component of net periodic pension cost, respectively. The amounts recorded in the charts above are for the six months ended June 30, 2016 and 2015 . For the three months ended June 30, 2016 , $0.0 million of the cash flow hedging gain and $0.7 million of the pension liability were reclassified from accumulated other comprehensive loss to the statement of income. For the three months ended June 30, 2015 , $2.4 million of the cash flow hedging gain and $0.8 million of the pension liability were reclassified from accumulated other comprehensive loss to the statement of income. Refer to Note 5 and Note 10, respectively, for further details.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments We enter into derivative instruments for risk management purposes only. We operate internationally and, in the normal course of business, are exposed to fluctuations in interest rates, foreign exchange rates and commodity prices. These fluctuations can increase the costs of financing, investing and operating the business. We use forward contracts, a type of derivative instrument, to manage certain foreign currency exposures. By nature, all financial instruments involve market and credit risks. We enter into forward contracts with major investment grade financial institutions and have policies to monitor the credit risk of those counterparties. While there can be no assurance, we do not anticipate any material non-performance by any of these counterparties. Foreign Currency Forward Contracts. We hedge forecasted intercompany sales denominated in foreign currencies through the use of forward contracts. We account for these forward contracts as cash flow hedges. To the extent these forward contracts meet hedge accounting criteria, changes in their fair value are not included in current earnings but are included in accumulated other comprehensive loss. These changes in fair value will be recognized into earnings as a component of sales or cost of sales when the forecasted transaction occurs. The notional contract amounts for forward contracts outstanding at June 30, 2016 which have been accounted for as cash flow hedges totaled $101.1 million . Net realized gains recognized for forward contracts accounted for as cash flow hedges approximated $0.0 million and $2.4 million for the three months ended June 30, 2016 and 2015 , respectively, and $0.5 million and $5.0 million for the six months ended June 30, 2016 and 2015 , respectively. Net unrealized gains on forward contracts outstanding, which have been accounted for as cash flow hedges and which have been included in other comprehensive income, totaled $0.1 million at June 30, 2016 . It is expected these unrealized gains will be recognized in the consolidated condensed statement of comprehensive income in 2016 and 2017 . We also enter into forward contracts to exchange foreign currencies for United States dollars in order to hedge our currency transaction exposures on intercompany receivables denominated in foreign currencies. These forward contracts settle each month at month-end, at which time we enter into new forward contracts. We have not designated these forward contracts as hedges and have not applied hedge accounting to them. The notional contract amounts for forward contracts outstanding at June 30, 2016 which have not been designated as hedges totaled $19.6 million . Net realized gains (losses) recognized in connection with those forward contracts not accounted for as hedges approximated $0.0 million and $(0.7) million for the three months ended June 30, 2016 and 2015 , respectively, offsetting gains (losses) on our intercompany receivables of $(0.3) million and $0.4 million for the three months ended June 30, 2016 and 2015 , respectively. Net realized gains (losses) recognized in connection with those forward contracts not accounted for as hedges approximated $(0.2) million and $0.0 million for the six months ended June 30, 2016 and 2015 , respectively, offsetting gains (losses) on our intercompany receivables of $0.1 million and $(0.3) million for the six months ended June 30, 2016 and 2015 , respectively. These gains and losses have been recorded in selling and administrative expense in the consolidated condensed statements of comprehensive income. We record these forward foreign exchange contracts at fair value; the following tables summarize the fair value for forward foreign exchange contracts outstanding at June 30, 2016 and December 31, 2015 : June 30, 2016 Asset Balance Sheet Location Fair Value Liabilities Balance Sheet Location Fair Value Net Fair Value Derivatives designated as hedged instruments: Foreign exchange contracts Prepaid expenses and other current assets $ 2,111 Prepaid expenses and other current assets $ (1,920 ) $ 191 Derivatives not designated as hedging instruments: Foreign exchange contracts Prepaid expenses and other current assets 10 Prepaid expenses and other current assets (56 ) (46 ) Total derivatives $ 2,121 $ (1,976 ) $ 145 December 31, 2015 Asset Balance Sheet Location Fair Value Liabilities Balance Sheet Location Fair Value Net Fair Value Derivatives designated as hedged instruments: Foreign exchange contracts Prepaid expenses and other current assets $ 2,931 Prepaid expenses and other current assets $ (1,026 ) $ 1,905 Derivatives not designated as hedging instruments: Foreign exchange contracts Prepaid expenses and other current assets 4 Prepaid expenses and other current assets (38 ) (34 ) Total derivatives $ 2,935 $ (1,064 ) $ 1,871 Our forward foreign exchange contracts are subject to a master netting agreement and qualify for netting in the consolidated balance sheets. Accordingly, at June 30, 2016 and December 31, 2015 , we have recorded the net fair value of $0.1 million and $1.9 million , respectively, in prepaid expenses and other current assets. Fair Value Disclosure. FASB guidance defines fair value and establishes a framework for measuring fair value and related disclosure requirements. This guidance applies when fair value measurements are required or permitted. The guidance indicates, among other things, that a fair value measurement assumes that the transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. Fair value is defined based upon an exit price model. Valuation Hierarchy. A valuation hierarchy was established for disclosure of the inputs to the valuations used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets in markets that are not active; inputs other than quoted prices that are observable for the asset or liability, including interest rates, yield curves and credit risks or inputs that are derived principally from, or corroborated by, observable market data through correlation. Level 3 inputs are unobservable inputs based on our own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. Valuation Techniques. Assets and liabilities carried at fair value and measured on a recurring basis as of June 30, 2016 consist of forward foreign exchange contracts and contingent liabilities associated with the EndoDynamix, Inc. acquisition. The Company values its forward foreign exchange contracts using quoted prices for similar assets. The most significant assumption is quoted currency rates. The value of the forward foreign exchange contract assets and liabilities were determined within Level 2 of the valuation hierarchy and are listed in the table above. The EndoDynamix, Inc. acquisition involves the potential for the payment of future contingent consideration upon the achievement of certain product development milestones and revenue based payments. Contingent consideration is recorded at the estimated fair value of the contingent milestone and revenue based payments on the acquisition date. The fair value of the contingent consideration is remeasured at the estimated fair value at each reporting period with the change in fair value recognized as income or expense within selling and administrative expenses in the consolidated condensed statements of comprehensive income. We measure the initial liability and remeasure the liability on a recurring basis using Level 3 inputs as defined under authoritative guidance for fair value measurements. The carrying amounts reported in our consolidated condensed balance sheets for cash and cash equivalents, accounts receivable, accounts payable and long-term debt approximate fair value.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: June 30, December 31, Raw materials $ 44,071 $ 47,681 Work-in-process 15,627 13,922 Finished goods 120,215 105,291 Total $ 179,913 $ 166,894

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share (“basic EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares outstanding resulting from employee stock options, restricted stock units, performance share units and stock appreciation rights ("SARs") during the period. The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net income $ 2,884 $ 7,461 $ 619 $ 13,773 Basic – weighted average shares outstanding 27,776 27,620 27,753 27,603 Effect of dilutive potential securities 165 237 173 236 Diluted – weighted average shares outstanding 27,941 27,857 27,926 27,839 Net income (per share) Basic $ 0.10 $ 0.27 $ 0.02 $ 0.50 Diluted 0.10 0.27 0.02 0.49 The shares used in the calculation of diluted EPS exclude options and SARs to purchase shares where the exercise price was greater than the average market price of common shares for the period and the effect of the inclusion would be anti-dilutive. Such shares aggregated approximately 1.7 million and 1.3 million in three and six months ended June 30, 2016 . Such shares were not material in the three and six months ended June 30, 2015 .

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The changes in the net carrying amount of goodwill for the six months ended June 30, 2016 are as follows: Balance as of December 31, 2015 $ 260,651 Goodwill resulting from business acquisitions 136,358 Foreign currency translation 1,145 Balance as of June 30, 2016 $ 398,154 Assets and liabilities of acquired businesses are recorded at their estimated fair values as of the date of acquisition. Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. During the six months ended June 30, 2016 , the Company acquired SurgiQuest, Inc. ("SurgiQuest") as further described in Note 3. Goodwill resulting from the acquisition amounted to $136.4 million and acquired amortizing intangible assets including customer and distributor relationships, developed technology and trademarks and tradenames amounted to $130.8 million . Other intangible assets consist of the following: June 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets: Customer and distributor relationships $ 213,308 $ (69,795 ) $ 136,871 $ (64,423 ) Promotional, marketing and distribution rights 149,376 (27,000 ) 149,376 (24,000 ) Patents and other intangible assets 71,435 (43,888 ) 66,688 (42,885 ) Developed technology 49,600 (620 ) — — Unamortized intangible assets: Trademarks and tradenames 86,544 — 86,544 — $ 570,263 $ (141,303 ) $ 439,479 $ (131,308 ) Customer and distributor relationships, trademarks and tradenames, developed technology and patents and other intangible assets primarily represent allocations of purchase price to identifiable intangible assets of acquired businesses. Promotional, marketing and distribution rights represent intangible assets created under our Sports Medicine Joint Development and Distribution Agreement (the "JDDA") with Musculoskeletal Transplant Foundation (“MTF”). On January 3, 2012, the Company entered into the JDDA with MTF to obtain MTF's worldwide promotion rights with respect to allograft tissues within the field of sports medicine and related products. The initial consideration from the Company included a $63.0 million up-front payment for the rights and certain assets, with an additional $84.0 million contingently payable over a four year period depending on MTF meeting supply targets for tissue. On January 6, 2016, January 5, 2015 and January 3, 2014, we paid equal installments of $16.7 million and on January 3, 2013, we paid $34.0 million of the additional consideration. Amortization expense related to intangible assets which are subject to amortization totaled $5.0 million and $3.1 million in the three months ended June 30, 2016 and 2015 , respectively, and $10.0 million and $6.4 million in the six months ended June 30, 2016 and 2015 , respectively, and is included as a reduction of revenue (for amortization related to our promotional, marketing and distribution rights) and in selling and administrative expense (for all other intangible assets) in the consolidated condensed statements of comprehensive income. The weighted average amortization period for intangible assets which are amortized is 25 years. Customer and distributor relationships are being amortized over a weighted average life of 29 years. SurgiQuest customer and distributor relationships are being amortized over a weighted average life of 22 years. Promotional, marketing and distribution rights are being amortized over a weighted average life of 25 years. Patents and other intangible assets are being amortized over a weighted average life of 13 years. Included in patents and other intangible assets at June 30, 2016 is an in-process research and development asset related to the EndoDynamix, Inc. acquisition that is not currently amortized. Developed technology is being amortized over a weighted average life of 17 years. The estimated intangible asset amortization expense remaining for the year ending December 31, 2016 and for each of the five succeeding years is as follows: Amortization included in expense Amortization recorded as a reduction of revenue Total Remaining, 2016 $ 6,988 $ 3,000 $ 9,988 2017 15,428 6,000 21,428 2018 15,762 6,000 21,762 2019 15,617 6,000 21,617 2020 15,307 6,000 21,307 2021 14,031 6,000 20,031

Guarantees

Guarantees	6 Months Ended
	Jun. 30, 2016
Guarantees [Abstract]
Guarantees	Guarantees We provide warranties on certain of our products at the time of sale. The standard warranty period for our capital and reusable equipment is generally one year. Liability under service and warranty policies is based upon a review of historical warranty and service claim experience. Adjustments are made to accruals as claim data and historical experience warrant. Changes in the carrying amount of service and product warranties for the six months ended June 30 , are as follows: 2016 2015 Balance as of January 1, $ 2,509 $ 2,286 Provision for warranties 1,692 1,950 Claims made (1,770 ) (1,716 ) Balance as of June 30, $ 2,431 $ 2,520

Pension Plan

Pension Plan	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Pension Plan	Pension Plan Net periodic pension cost consists of the following: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Service cost $ 113 $ 52 $ 226 $ 120 Interest cost on projected benefit obligation 719 810 1,438 1,697 Expected return on plan assets (1,297 ) (1,380 ) (2,594 ) (2,849 ) Net amortization and deferral 695 805 1,390 1,617 Net periodic pension cost $ 230 $ 287 $ 460 $ 585 We do not expect to make any pension contributions during 2016 .

Acquisition, Restructuring and

Acquisition, Restructuring and Other Expense	6 Months Ended
	Jun. 30, 2016
Acquisition, Restructuring and Other Expense [Abstract]
Acquisition, Restructuring and Other Expense [Text Block]	Acquisition, Restructuring and Other Expense Acquisition, restructuring and other expense consists of the following: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Facility consolidation costs $ 127 $ 1,534 $ 991 $ 3,863 Termination of a product offering 4,546 — 4,546 — Restructuring costs included in cost of sales $ 4,673 $ 1,534 $ 5,537 $ 3,863 Restructuring costs $ 953 $ 2,284 $ 3,744 $ 8,464 Business acquisition costs 4,996 — 14,041 — Acquisition, restructuring and other expense included in selling and administrative expense $ 5,949 $ 2,284 $ 17,785 $ 8,464 Debt refinancing costs included in other expense $ — $ — $ 2,942 $ — During the three and six months ended June 30, 2016 , we incurred $5.0 million and $14.0 million , respectively, in costs associated with the January 4, 2016 acquisition of SurgiQuest, Inc. as further described in Note 3. These costs include investment banking fees, consulting fees, legal fees and integration related costs. During the six months ended June 30, 2016 , we incurred a $2.7 million charge related to an agreement between the Company and JP Morgan Chase Bank, N.A. and recorded a loss on the early extinguishment of debt of $0.3 million in conjunction with the fifth amended and restated senior credit agreement as further described in Note 15. During 2016 and 2015 , we continued our operational restructuring plan. The consolidation of our Centennial, Colorado manufacturing operations into other existing CONMED manufacturing facilities is substantially complete. We incurred $0.1 million and $1.5 million in costs associated with the operational restructuring during the three months ended June 30, 2016 and 2015 , respectively, and $1.0 million and $3.9 million during the six months ended June 30, 2016 and 2015 , respectively. These costs were charged to cost of sales and include severance and other charges associated with the consolidation. In conjunction with the consolidation of our Centennial, Colorado manufacturing operations, the facility is currently held for sale and classified in prepaids and other current assets in the consolidated condensed balance sheet. The net book value of this facility at June 30, 2016 was $3.1 million . During 2016, the Company discontinued our Altrus product offering as part of our ongoing restructuring and incurred $4.5 million in non-cash charges which were included in cost of sales for the three and six months ended June 30, 2016 . During 2016 and 2015 , we restructured certain selling and administrative functions and incurred severance and other related costs in the amount of $1.0 million and $2.3 million for the three months ended June 30, 2016 and 2015 , respectively, and $3.7 million and $8.5 million for the six months ended June 30, 2016 and 2015 , respectively. We have recorded an accrual in current and other long term liabilities of $2.2 million at June 30, 2016 mainly related to severance costs associated with the restructuring. Below is a rollforward of the costs incurred and cash expenditures associated with these activities during the six months ended June 30, 2016 and 2015 : 2016 2015 Balance as of January 1, $ 7,175 $ 8,254 Expenses incurred 4,735 12,327 Payments made (9,755 ) (12,897 ) Balance at June 30, $ 2,155 $ 7,684

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Business Segments	Business Segments We are accounting and reporting for our business as a single operating segment entity engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. Our chief operating decision maker (the CEO) evaluates the various global product portfolios on a net sales basis and evaluates profitability, investment and cash flow metrics on a consolidated worldwide basis due to shared infrastructure and resources. Our product lines consist of orthopedic surgery, general surgery and surgical visualization. Orthopedic surgery consists of sports medicine instrumentation and small bone, large bone and specialty powered surgical instruments and service fees related to the promotion and marketing of sports medicine allograft tissue. General surgery consists of a complete line of endo-mechanical instrumentation for minimally invasive laparoscopic and gastrointestinal procedures, a line of cardiac monitoring products as well as electrosurgical generators and related instruments. Surgical visualization consists of imaging systems for use in minimally invasive orthopedic and general surgery procedures including 2DHD and 3DHD vision technologies. These product lines' net sales are as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Orthopedic surgery $ 92,742 $ 96,801 $ 186,183 $ 195,398 General surgery 87,570 71,111 163,470 137,173 Surgical visualization 13,121 13,115 24,981 26,396 Consolidated net sales $ 193,433 $ 181,027 $ 374,634 $ 358,967

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings From time to time, we are subject to claims alleging product liability, patent infringement or other claims incurred in the ordinary course of business. These may involve our United States or foreign operations, or sales by foreign distributors. Likewise, from time to time, the Company may receive an information request or subpoena from a government agency such as the Securities and Exchange Commission, Department of Justice, Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, the Department of Labor, the Treasury Department or other federal and state agencies or foreign governments or government agencies. These information requests or subpoenas may or may not be routine inquiries, or may begin as routine inquiries and over time develop into enforcement actions of various types. The product liability claims are generally covered by various insurance policies, subject to certain deductible amounts, maximum policy limits and certain exclusions in the respective policies or as required as a matter of law. In some cases, we may be entitled to indemnification by third parties. We establish reserves sufficient to cover probable losses associated with any such pending claims. We do not expect that the resolution of any pending claims or investigations will have a material adverse effect on our financial condition, results of operations or cash flows. There can be no assurance, however, that future claims or investigations, or the costs associated with responding to such claims or investigations, especially claims and investigations not covered by insurance, will not have a material adverse effect on our financial condition, results of operations or cash flows. Manufacturers of medical products may face exposure to significant product liability claims. To date, we have not experienced any product liability claims that have been material to our financial statements or financial condition, but any such claims arising in the future could have a material adverse effect on our business or results of operations. We currently maintain commercial product liability insurance of $25 million per incident and $25 million in the aggregate annually, which we believe is adequate. This coverage is on a claims-made basis. There can be no assurance that claims will not exceed insurance coverage, that the carriers will be solvent or that such insurance will be available to us in the future at a reasonable cost. Our operations are subject, and in the past have been subject, to a number of environmental laws and regulations governing, among other things, air emissions; wastewater discharges; the use, handling and disposal of hazardous substances and wastes; soil and groundwater remediation and employee health and safety. In some jurisdictions, environmental requirements may be expected to become more stringent in the future. In the United States, certain environmental laws can impose liability for the entire cost of site restoration upon each of the parties that may have contributed to conditions at the site regardless of fault or the lawfulness of the party’s activities. While we do not believe that the present costs of environmental compliance and remediation are material, there can be no assurance that future compliance or remedial obligations would not have a material adverse effect on our financial condition, results of operations or cash flows. During the third quarter of 2013, the U.S. Food and Drug Administration ("FDA") inspected our Centennial, Colorado manufacturing facility and issued a Form 483 with observations on September 20, 2013. We subsequently submitted responses to the Observations, and the FDA issued a warning letter on January 30, 2014 relating to the inspection and the responses to the Form 483 observations. Accordingly, we undertook corrective actions. During the fourth quarter of 2014, the FDA again inspected our Centennial, Colorado manufacturing facility and, on November 18, 2014, issued a Form 483 with eight observations, three of which the FDA characterized as repeat observations. On December 10, 2014, we responded to the Form 483 observations. We have received some additional questions from the FDA and have responded to these questions on April 25, 2015. The Company remains in ongoing communications with the FDA. The remediation costs to date have not been material, although there can be no assurance that responding to the Form 483 observations or a future inspection by the FDA will not result in an additional Form 483 or warning letter, or other regulatory actions, which may include consent decrees or fines that could be material. In September 2013, Lexion Medical ("Lexion") filed suit against SurgiQuest in federal court in the District of Minnesota alleging false advertising under the Lanham Act, as well as various state law claims, including common law trade libel and unfair competition. In March 2014, SurgiQuest’s motion to dismiss for lack of personal jurisdiction was granted and that same day, SurgiQuest filed suit against Lexion in federal court in the District of Delaware seeking, among other claims, a declaratory judgment that SurgiQuest’s actions did not violate the Lanham Act. Lexion filed an answer generally denying SurgiQuest’s claims, and asserted counterclaims that were substantially similar to the claims Lexion brought in the Minnesota action. On January 4, 2016, SurgiQuest became a subsidiary of CONMED as further described in Note 3, and CONMED assumed the costs and liabilities related to the Lexion lawsuit subject to the terms of the merger agreement referenced in Note 3. The case is in the discovery phase with trial anticipated in 2017. Based on recently produced expert's reports, Lexion is seeking damages of $14.8 million for alleged lost profits and $18.7 million for costs related to alleged “corrective advertising” as well as an unspecified sum for disgorgement of SurgiQuest’s alleged profit. We believe that there is no merit to Lexion’s claims against SurgiQuest and intend to vigorously defend the claims asserted by Lexion.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers". This ASU is a comprehensive new revenue recognition model that requires a company to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the company expects to receive in exchange for those goods or services. In March, April and May 2016, the FASB issued ASU 2016-08 related to principal versus agent considerations; ASU 2016-10 related to identifying performance obligations and licensing; and ASU 2016-12 clarifying the guidance on assessing collectability, presenting sales taxes, measuring noncash consideration, and certain transition matters, respectively. These additional ASUs provide supplemental adoption guidance and clarification to ASU 2014-09. The guidance in these ASUs is effective for annual reporting periods beginning after December 15, 2017 and early adoption is permitted as of January 1, 2017. We plan to adopt these ASUs on January 1, 2018. The new standard will become effective beginning with the first quarter of 2018 and can be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. The Company is currently evaluating both the impact of adopting this new guidance on the consolidated financial statements and the method of adoption. In July 2015, the FASB issued ASU No. 2015-11, "Simplifying the Measurement of Inventory". An entity should measure inventory within the scope of this Update at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. This ASU is effective for annual periods beginning after December 15, 2016. The Company does not believe this new guidance will have a material impact on the consolidated financial statements. In August 2015, the FASB issued ASU No. 2015-15, "Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements". This ASU was issued to clarify the guidance included in ASU 2015-03 "Simplifying the Presentation of Debt Issuance Costs", which requires entities to present debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of that debt liability. ASU 2015-03 does not address presentation or subsequent measurement of debt issuance costs related to line-of-credit arrangements. Given the absence of authoritative guidance within Update 2015-03 for debt issuance costs related to line-of-credit arrangements, ASU 2015-15 was issued to clarify that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. This ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company adopted this guidance as of January 1, 2016, continuing to account for debt issuance costs related to the line-of-credit arrangement as an asset, and it did not have a material impact on our consolidated financial statements. In September 2015, the FASB issued ASU No. 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments". This ASU simplifies the accounting for changes in measurement period adjustments associated with a business combination. It requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. This ASU is effective for annual periods beginning after December 15, 2015. The Company adopted this guidance as of January 1, 2016 and it did not have a material impact on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17 "Income Taxes (ASC 740): Balance Sheet Classification of Deferred Taxes". This ASU requires all deferred income tax assets and liabilities be presented as non-current in classified balance sheets. This can be applied prospectively or retrospectively and must disclose the reason for the change in accounting principle, the application applied and if applied retrospectively, include quantitative information about the effects of the change on prior periods. This standard is effective for annual and interim periods beginning after December 15, 2016. The Company retrospectively implemented this new guidance in the first quarter of 2016. The below table summarizes the adjustments made to conform prior period classification with the new guidance: December 31, 2015 As Previously Filed Reclass As Adjusted Current deferred income tax assets $ 14,150 $ (14,150 ) $ — Long-term deferred income tax assets 1,332 2,906 4,238 Long-term deferred income tax liabilities (114,623 ) 11,244 (103,379 ) $ (99,141 ) $ — $ (99,141 ) In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). This requires lessees to put most leases on their balance sheets but recognize the expenses on their income statements in a manner similar to current practice. ASU 2016-02 states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. The new standard is effective for interim and annual periods beginning after December 15, 2018 and early adoption is permitted. The Company is currently evaluating the impact of the adoption of ASU 2016-02. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. This ASU requires all tax effects to run through the statement of operations, where historically tax benefits in excess of compensation cost ran through equity. It also allows employers' to withhold the maximum amount of individual tax withholdings without resulting in liability accounting. Finally, the ASU allows companies to make an accounting policy election regarding the impact of forfeitures on expense related to share based awards. This new guidance is effective for periods beginning after December 15, 2016, however early adoption is permitted. The Company is currently evaluating the impact of adopting this new guidance on the consolidated financial statements.

Long Term Debt

Long Term Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Long Term Debt	Long Term Debt Long term debt consists of the following: June 30, 2016 December 31, 2015 Revolving line of credit $ 344,314 $ 265,609 Term loan, net of deferred debt issuance costs of $700 and $0 in 2016 and 2015, respectively 169,925 — Mortgage notes 4,545 5,201 Total debt 518,784 270,810 Less: Current portion 10,145 1,339 Total long-term debt $ 508,639 $ 269,471 On January 4, 2016 we entered into an amended and restated senior credit agreement (the "fifth amended and restated senior credit agreement") consisting of: (a) a $175.0 million term loan facility and (b) a $525.0 million revolving credit facility both expiring on January 4, 2021. The term loan is payable in quarterly installments increasing over the term of the facility. Proceeds from the term loan facility and borrowings under the revolving credit facility were used to repay the then existing senior credit agreement and to finance the acquisition of SurgiQuest. Initially, the interest rates are at LIBOR plus a base rate or a Eurocurrency rate plus an applicable margin. The applicable margin for base rate loans is 1.00% and for Eurocurrency rate loans is 2.00% ( 2.47% at June 30, 2016 ). In conjunction with this agreement, we incurred charges included in other expense in the statements of comprehensive income related to an agreement between the Company and JP Morgan Chase Bank, N.A. totaling $2.7 million and recorded a loss on the early extinguishment of debt of $0.3 million . There were $170.6 million in borrowings outstanding on the term loan as of June 30, 2016 . There were $344.3 million in borrowings outstanding under the revolving credit facility as of June 30, 2016 . Our available borrowings on the revolving credit facility at June 30, 2016 were $175.9 million with approximately $4.8 million of the facility set aside for outstanding letters of credit. The amended and restated senior credit agreement is collateralized by substantially all of our personal property and assets. The amended and restated senior credit agreement contains covenants and restrictions which, among other things, require the maintenance of certain financial ratios and restrict dividend payments and the incurrence of certain indebtedness and other activities, including acquisitions and dispositions. We were in full compliance with these covenants and restrictions as of June 30, 2016 . We are also required, under certain circumstances, to make mandatory prepayments from net cash proceeds from any issuance of equity and asset sales. We have a mortgage note outstanding in connection with the Largo, Florida property and facilities bearing interest at 8.25% per annum with semiannual payments of principal and interest through June 2019. The principal balance outstanding on the mortgage note aggregated $4.5 million at June 30, 2016 . The mortgage note is collateralized by the Largo, Florida property and facilities. The scheduled maturities of long-term debt outstanding at June 30, 2016 are as follows: July 1, 2016 - June 30, 2017 $ 10,145 July 1, 2017 - June 30, 2018 12,449 July 1, 2018 - June 30, 2019 16,951 July 1, 2019 - June 30, 2020 17,500 July 1, 2020 - June 30, 2021 462,439

Business Acquisition Business A

Business Acquisition Business Acquisition (Tables)	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as a result of the SurgiQuest acquisition. The assessment of fair value is preliminary and is based on information that was available to management at the time the consolidated condensed financial statements were prepared. Accordingly, the allocation of purchase price is preliminary and therefore subject to adjustment in future periods. Cash $ 1,305 Other current assets 16,681 Current assets 17,986 Property, plant & equipment 3,332 Goodwill 136,358 Customer and distributor relationships 76,420 Developed technology 49,600 Trademarks & tradenames 4,780 Other non-current assets 302 Total assets acquired $ 288,778 Current liabilities assumed 10,586 Deferred income taxes 20,009 Other long-term liabilities 454 Total liabilities assumed 31,049 Net assets acquired $ 257,729
Business Acquisition, Pro Forma Information	The unaudited pro forma information for the three and six months ended June 30, 2016 and 2015 , assuming SurgiQuest occurred as of January 1, 2015 are presented below. This information has been prepared for comparative purposes only and does not purport to be indicative of the results of operations which actually would have resulted had the SurgiQuest acquisition occurred on the dates indicated, or which may result in the future. Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net sales $ 193,433 $ 194,565 $ 374,634 $ 381,889 Net income 6,337 (808 ) 12,659 (7,665 )

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2016
Comprehensive Income [Abstract]
Schedule of Comprehensive Income	Comprehensive income consists of the following: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net income $ 2,884 $ 7,461 $ 619 $ 13,773 Other comprehensive income: Pension liability, net of income tax (income tax expense of $257 and $297 for the three months ended June 30, 2016 and 2015, respectively, and $514 and $598 for the six months ended June 30, 2016 and 2015, respectively) 438 507 876 1,019 Cash flow hedging gain (loss), net of income tax (income tax expense (benefit) of $666 and ($1,499) for the three months ended June 30, 2016 and 2015, respectively, and ($633) and ($349) for the six months ended June 30, 2016 and 2015, respectively) 1,137 (2,557 ) (1,080 ) (595 ) Foreign currency translation adjustment (3,114 ) 3,219 1,717 (9,282 ) Comprehensive income $ 1,345 $ 8,630 $ 2,132 $ 4,915
Schedule of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consists of the following: Cash Flow Hedging Gain (Loss) Pension Liability Cumulative Translation Adjustments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2015 $ 1,201 $ (25,982 ) $ (29,113 ) $ (53,894 ) Other comprehensive income (loss) before reclassifications, net of tax (750 ) — 1,717 967 Amounts reclassified from accumulated other comprehensive income (loss) before tax a (524 ) 1,390 — 866 Income tax provision (benefit) 194 (514 ) — (320 ) Net current-period other comprehensive income (loss) (1,080 ) 876 1,717 1,513 Balance, June 30, 2016 $ 121 $ (25,106 ) $ (27,396 ) $ (52,381 ) Cash Flow Hedging Gain (Loss) Pension Liability Cumulative Translation Adjustments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2014 $ 3,276 $ (30,760 ) $ (12,338 ) $ (39,822 ) Other comprehensive income (loss) before reclassifications, net of tax 2,583 — (9,282 ) (6,699 ) Amounts reclassified from accumulated other comprehensive income before tax a (5,040 ) 1,617 — (3,423 ) Income tax provision (benefit) 1,862 (598 ) — 1,264 Net current-period other comprehensive income (loss) (595 ) 1,019 (9,282 ) (8,858 ) Balance, June 30, 2015 $ 2,681 $ (29,741 ) $ (21,620 ) $ (48,680 ) (a) The cash flow hedging gain (loss) and pension liability accumulated other comprehensive income (loss) components are included in sales or cost of sales and as a component of net periodic pension cost, respectively. The amounts recorded in the charts above are for the six months ended June 30, 2016 and 2015 . For the three months ended June 30, 2016 , $0.0 million of the cash flow hedging gain and $0.7 million of the pension liability were reclassified from accumulated other comprehensive loss to the statement of income. For the three months ended June 30, 2015 , $2.4 million of the cash flow hedging gain and $0.8 million of the pension liability were reclassified from accumulated other comprehensive loss to the statement of income. Refer to Note 5 and Note 10, respectively, for further details.

Fair Value of Financial Instr23

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value for Forward Foreign Exchange Contracts	We record these forward foreign exchange contracts at fair value; the following tables summarize the fair value for forward foreign exchange contracts outstanding at June 30, 2016 and December 31, 2015 : June 30, 2016 Asset Balance Sheet Location Fair Value Liabilities Balance Sheet Location Fair Value Net Fair Value Derivatives designated as hedged instruments: Foreign exchange contracts Prepaid expenses and other current assets $ 2,111 Prepaid expenses and other current assets $ (1,920 ) $ 191 Derivatives not designated as hedging instruments: Foreign exchange contracts Prepaid expenses and other current assets 10 Prepaid expenses and other current assets (56 ) (46 ) Total derivatives $ 2,121 $ (1,976 ) $ 145 December 31, 2015 Asset Balance Sheet Location Fair Value Liabilities Balance Sheet Location Fair Value Net Fair Value Derivatives designated as hedged instruments: Foreign exchange contracts Prepaid expenses and other current assets $ 2,931 Prepaid expenses and other current assets $ (1,026 ) $ 1,905 Derivatives not designated as hedging instruments: Foreign exchange contracts Prepaid expenses and other current assets 4 Prepaid expenses and other current assets (38 ) (34 ) Total derivatives $ 2,935 $ (1,064 ) $ 1,871

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Schedule of inventory	Inventories consist of the following: June 30, December 31, Raw materials $ 44,071 $ 47,681 Work-in-process 15,627 13,922 Finished goods 120,215 105,291 Total $ 179,913 $ 166,894

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of calculation of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net income $ 2,884 $ 7,461 $ 619 $ 13,773 Basic – weighted average shares outstanding 27,776 27,620 27,753 27,603 Effect of dilutive potential securities 165 237 173 236 Diluted – weighted average shares outstanding 27,941 27,857 27,926 27,839 Net income (per share) Basic $ 0.10 $ 0.27 $ 0.02 $ 0.50 Diluted 0.10 0.27 0.02 0.49

Goodwill and Other Intangible26

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the net carrying amount of goodwill for the six months ended June 30, 2016 are as follows: Balance as of December 31, 2015 $ 260,651 Goodwill resulting from business acquisitions 136,358 Foreign currency translation 1,145 Balance as of June 30, 2016 $ 398,154
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets	Other intangible assets consist of the following: June 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets: Customer and distributor relationships $ 213,308 $ (69,795 ) $ 136,871 $ (64,423 ) Promotional, marketing and distribution rights 149,376 (27,000 ) 149,376 (24,000 ) Patents and other intangible assets 71,435 (43,888 ) 66,688 (42,885 ) Developed technology 49,600 (620 ) — — Unamortized intangible assets: Trademarks and tradenames 86,544 — 86,544 — $ 570,263 $ (141,303 ) $ 439,479 $ (131,308 )
Schedule of Estimated Amortization Expense	The estimated intangible asset amortization expense remaining for the year ending December 31, 2016 and for each of the five succeeding years is as follows: Amortization included in expense Amortization recorded as a reduction of revenue Total Remaining, 2016 $ 6,988 $ 3,000 $ 9,988 2017 15,428 6,000 21,428 2018 15,762 6,000 21,762 2019 15,617 6,000 21,617 2020 15,307 6,000 21,307 2021 14,031 6,000 20,031

Guarantees (Tables)

Guarantees (Tables)	6 Months Ended
	Jun. 30, 2016
Guarantees [Abstract]
Changes in the carrying amount of service and product warranties	Changes in the carrying amount of service and product warranties for the six months ended June 30 , are as follows: 2016 2015 Balance as of January 1, $ 2,509 $ 2,286 Provision for warranties 1,692 1,950 Claims made (1,770 ) (1,716 ) Balance as of June 30, $ 2,431 $ 2,520

Pension Plan (Tables)

Pension Plan (Tables)	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of net benefit cost	Net periodic pension cost consists of the following: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Service cost $ 113 $ 52 $ 226 $ 120 Interest cost on projected benefit obligation 719 810 1,438 1,697 Expected return on plan assets (1,297 ) (1,380 ) (2,594 ) (2,849 ) Net amortization and deferral 695 805 1,390 1,617 Net periodic pension cost $ 230 $ 287 $ 460 $ 585

Acquisition, Restructuring an29

Acquisition, Restructuring and Other Expense (Tables)	6 Months Ended
	Jun. 30, 2016
Acquisition, Restructuring and Other Expense [Abstract]
Schedule of Acquisition, Restructuring and Other Expense [Table Text Block]	Acquisition, restructuring and other expense consists of the following: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Facility consolidation costs $ 127 $ 1,534 $ 991 $ 3,863 Termination of a product offering 4,546 — 4,546 — Restructuring costs included in cost of sales $ 4,673 $ 1,534 $ 5,537 $ 3,863 Restructuring costs $ 953 $ 2,284 $ 3,744 $ 8,464 Business acquisition costs 4,996 — 14,041 — Acquisition, restructuring and other expense included in selling and administrative expense $ 5,949 $ 2,284 $ 17,785 $ 8,464 Debt refinancing costs included in other expense $ — $ — $ 2,942 $ —
Schedule of Restructuring Accrual	Below is a rollforward of the costs incurred and cash expenditures associated with these activities during the six months ended June 30, 2016 and 2015 : 2016 2015 Balance as of January 1, $ 7,175 $ 8,254 Expenses incurred 4,735 12,327 Payments made (9,755 ) (12,897 ) Balance at June 30, $ 2,155 $ 7,684

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of net sales information by product line	These product lines' net sales are as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Orthopedic surgery $ 92,742 $ 96,801 $ 186,183 $ 195,398 General surgery 87,570 71,111 163,470 137,173 Surgical visualization 13,121 13,115 24,981 26,396 Consolidated net sales $ 193,433 $ 181,027 $ 374,634 $ 358,967

New Accounting Pronouncements N

New Accounting Pronouncements New Accounting Pronouncements (Tables)	6 Months Ended
	Jun. 30, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The below table summarizes the adjustments made to conform prior period classification with the new guidance: December 31, 2015 As Previously Filed Reclass As Adjusted Current deferred income tax assets $ 14,150 $ (14,150 ) $ — Long-term deferred income tax assets 1,332 2,906 4,238 Long-term deferred income tax liabilities (114,623 ) 11,244 (103,379 ) $ (99,141 ) $ — $ (99,141 )

Long Term Debt Long Term Debt (

Long Term Debt Long Term Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long term debt consists of the following: June 30, 2016 December 31, 2015 Revolving line of credit $ 344,314 $ 265,609 Term loan, net of deferred debt issuance costs of $700 and $0 in 2016 and 2015, respectively 169,925 — Mortgage notes 4,545 5,201 Total debt 518,784 270,810 Less: Current portion 10,145 1,339 Total long-term debt $ 508,639 $ 269,471
Schedule of Maturities of Long-term Debt	The scheduled maturities of long-term debt outstanding at June 30, 2016 are as follows: July 1, 2016 - June 30, 2017 $ 10,145 July 1, 2017 - June 30, 2018 12,449 July 1, 2018 - June 30, 2019 16,951 July 1, 2019 - June 30, 2020 17,500 July 1, 2020 - June 30, 2021 462,439

Business Acquisition Business33

Business Acquisition Business Acquisition (Details) - USD ($) $ in Thousands	Jan. 04, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Business Acquisition [Line Items]
Weighted average amortization period (in years)				25 years
Net sales		$ 193,433	$ 181,027	$ 374,634	$ 358,967
Assets Acquired [Abstract]
Goodwill		398,154		$ 398,154		$ 260,651
Customer and Distributor Relationships [Member]
Business Acquisition [Line Items]
Weighted average amortization period (in years)				29 years
Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Weighted average amortization period (in years)				17 years
SurgiQuestInc [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 257,700
Payments to acquire business	265,000
Tax deductible goodwill	$ 11,500
Weighted average amortization period (in years)	20 years
Net sales		18,500		$ 31,200
Assets Acquired [Abstract]
Cash	$ 1,305
Other current assets	16,681
Current assets	17,986
Property, plant & equipment	3,332
Goodwill	136,358
Other non-current assets	302
Total assets acquired	288,778
Liabilities Assumed [Abstract]
Current liabilities assumed	10,586
Deferred income taxes	20,009
Other long-term liabilities	454
Total liabilities assumed	31,049
Net assets acquired	$ 257,729
Pro Forma Information [Abstract]
Net sales		193,433	194,565	374,634	381,889
Net income		$ 6,337	(808)	$ 12,659	(7,665)
SurgiQuestInc [Member] | Customer and Distributor Relationships [Member]
Business Acquisition [Line Items]
Weighted average amortization period (in years)	22 years
Assets Acquired [Abstract]
Finite-lived intangible assets	$ 76,420
SurgiQuestInc [Member] | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Weighted average amortization period (in years)	17 years
Assets Acquired [Abstract]
Finite-lived intangible assets	$ 49,600
SurgiQuestInc [Member] | Trademarks and Tradenames [Member]
Business Acquisition [Line Items]
Weighted average amortization period (in years)	23 years
Assets Acquired [Abstract]
Finite-lived intangible assets	$ 4,780
Pro Forma [Member] | SurgiQuestInc [Member]
Business Acquisition [Line Items]
Business acquisition costs			$ 5,000		$ 14,000

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Comprehensive Income [Abstract]
Net income	$ 2,884	$ 7,461	$ 619	$ 13,773
Pension liability, net of income tax	438	507	876	1,019
Cash flow hedging gain (loss), net of income tax	1,137	(2,557)	(1,080)	(595)
Foreign currency translation adjustment	(3,114)	3,219	1,717	(9,282)
Comprehensive income	1,345	8,630	2,132	4,915
Pension liability, tax	257	297	514	598
Cash flow hedging gain (loss), tax	$ 666	$ (1,499)	$ (633)	$ (349)

Comprehensive Income (Accumulat

Comprehensive Income (Accumulated Other Comprehensive income (loss)) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated other comprehensive income (loss) [Roll Forward]
Accumulated other comprehensive income (loss)				$ (53,894)
Income tax (benefit)		$ (1,043)	$ (3,466)	(75)	$ (6,648)
Accumulated other comprehensive income (loss)		(52,381)		(52,381)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Accumulated other comprehensive income (loss)				(53,894)	(39,822)
Other comprehensive income (loss) before reclassifications				967	(6,699)
Amounts reclassified from other accumulated comprehensive income (loss) before tax	[1]			866	(3,423)
Income tax (benefit)				(320)	1,264
Net current-period other comprehensive income (loss)				1,513	(8,858)
Accumulated other comprehensive income (loss)		(52,381)	(48,680)	(52,381)	(48,680)
Cash Flow Hedging Gain (Loss) [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Accumulated other comprehensive income (loss)				1,201	3,276
Other comprehensive income (loss) before reclassifications				(750)	2,583
Amounts reclassified from other accumulated comprehensive income (loss) before tax	[1]	0	(2,400)	(524)	(5,040)
Income tax (benefit)				194	1,862
Net current-period other comprehensive income (loss)				(1,080)	(595)
Accumulated other comprehensive income (loss)		121	2,681	121	2,681
Pension Liability [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Accumulated other comprehensive income (loss)				(25,982)	(30,760)
Other comprehensive income (loss) before reclassifications				0	0
Amounts reclassified from other accumulated comprehensive income (loss) before tax	[1]	700	800	1,390	1,617
Income tax (benefit)				(514)	(598)
Net current-period other comprehensive income (loss)				876	1,019
Accumulated other comprehensive income (loss)		(25,106)	(29,741)	(25,106)	(29,741)
Cumulative Translation Adjustment [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Accumulated other comprehensive income (loss)				(29,113)	(12,338)
Other comprehensive income (loss) before reclassifications				1,717	(9,282)
Amounts reclassified from other accumulated comprehensive income (loss) before tax	[1]			0	0
Income tax (benefit)				0	0
Net current-period other comprehensive income (loss)				1,717	(9,282)
Accumulated other comprehensive income (loss)		$ (27,396)	$ (21,620)	$ (27,396)	$ (21,620)
[1]	The cash flow hedging gain (loss) and pension liability accumulated other comprehensive income (loss) components are included in sales or cost of sales and as a component of net periodic pension cost, respectively. The amounts recorded in the charts above are for the six months ended June 30, 2016 and 2015. For the three months ended June 30, 2016, $0.0 million of the cash flow hedging gain and $0.7 million of the pension liability were reclassified from accumulated other comprehensive loss to the statement of income. For the three months ended June 30, 2015, $2.4 million of the cash flow hedging gain and $0.8 million of the pension liability were reclassified from accumulated other comprehensive loss to the statement of income. Refer to Note 5 and Note 10, respectively, for further details.

Fair Value of Financial Instr36

Fair Value of Financial Instruments (Foreign Currency Forward Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Derivative [Line Items]
Gains (losses) on intercompany receivables	$ (300)	$ 400	$ 100	$ (300)
Derivative Assets and Liabilities at Fair Value [Abstract]
Fair value, assets	2,121		2,121		$ 2,935
Fair value, liabilities	(1,976)		(1,976)		(1,064)
Derivative Assets (Liabilities), at Fair Value, Net	145		145		1,871
Foreign Currency Forward Contracts [Member]
Derivative [Line Items]
Forward contracts not designated as hedging instruments net realized gains (losses)	0	(700)	(200)	0
Designated as Hedging Instrument [Member] | Foreign Currency Forward Contracts [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivative Assets and Liabilities at Fair Value [Abstract]
Fair value, assets	2,111		2,111		2,931
Fair value, liabilities	(1,920)		(1,920)		(1,026)
Derivative Assets (Liabilities), at Fair Value, Net	191		191		1,905
Not Designated as Hedging Instrument [Member] | Foreign Currency Forward Contracts [Member]
Derivative [Line Items]
Notional amount of cash flow hedges	19,600		19,600
Not Designated as Hedging Instrument [Member] | Foreign Currency Forward Contracts [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivative Assets and Liabilities at Fair Value [Abstract]
Fair value, assets	10		10		4
Fair value, liabilities	(56)		(56)		(38)
Derivative Assets (Liabilities), at Fair Value, Net	(46)		(46)		$ (34)
Cash Flow Hedging [Member] | Foreign Currency Forward Contracts [Member]
Derivative [Line Items]
Notional amount of cash flow hedges	101,100		101,100
Cash flow hedges realized gains	0	$ 2,400	500	$ 5,000
Unrealized gains on cash flow hedges in accumulated other comprehensive income (loss) expected to be recognized in the next fiscal year	$ 100		$ 100

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 44,071	$ 47,681
Work-in-process	15,627	13,922
Finished goods	120,215	105,291
Total inventory	$ 179,913	$ 166,894

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,700		1,300
Net income	$ 2,884	$ 7,461	$ 619	$ 13,773
Basic-weighted average shares outstanding (in shares)	27,776	27,620	27,753	27,603
Effect of dilutive potential securities (in shares)	165	237	173	236
Diluted- weighted average shares outstanding (in shares)	27,941	27,857	27,926	27,839
Basic (in dollars per share)	$ 0.10	$ 0.27	$ 0.02	$ 0.50
Diluted (in dollars per share)	$ 0.10	$ 0.27	$ 0.02	$ 0.49

Goodwill and Other Intangible39

Goodwill and Other Intangible Assets (Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 260,651
Goodwill resulting from business acquisitions	136,358
Foreign currency translation	1,145
Ending balance	$ 398,154

Goodwill and Other Intangible40

Goodwill and Other Intangible Assets (Intangible Assets) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Intangible assets, Gross carrying amount	$ 570,263	$ 439,479
Intangible assets, Accumulated amortization	(141,303)	(131,308)
Future amortization expense [Abstract]
Remaining, 2016	9,988
2,017	21,428
2,018	21,762
2,019	21,617
2,020	21,307
2,021	20,031
Expense [Member]
Future amortization expense [Abstract]
Remaining, 2016	6,988
2,017	15,428
2,018	15,762
2,019	15,617
2,020	15,307
2,021	14,031
Reduction of Revenue [Member]
Future amortization expense [Abstract]
Remaining, 2016	3,000
2,017	6,000
2,018	6,000
2,019	6,000
2,020	6,000
2,021	6,000
Trademarks and Tradenames [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Unamortized intangible assets, Gross carrying amount	86,544	86,544
Customer and Distributor Relationships [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Amortized intangible assets, Gross carrying amount	213,308	136,871
Intangible assets, Accumulated amortization	(69,795)	(64,423)
Promotional, Marketing and Distribution Rights [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Amortized intangible assets, Gross carrying amount	149,376	149,376
Intangible assets, Accumulated amortization	(27,000)	(24,000)
Patents and Other Intangible Assets [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Amortized intangible assets, Gross carrying amount	71,435	66,688
Intangible assets, Accumulated amortization	(43,888)	(42,885)
Technology-Based Intangible Assets [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Amortized intangible assets, Gross carrying amount	49,600	0
Intangible assets, Accumulated amortization	(620)	$ 0
SurgiQuestInc [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 130,800

Goodwill and Other Intangible41

Goodwill and Other Intangible Assets (Other Intangible Assets) (Details) - USD ($) $ in Millions	Jan. 06, 2016	Jan. 04, 2016	Jan. 05, 2015	Jan. 03, 2014	Jan. 03, 2013	Jan. 03, 2012	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Intangible Assets [Line Items]
Up-front payment						$ 63
Additional contingent cash payment						$ 84
Contingent payment period (in years)						4 years
Amortization expense							$ 5	$ 3.1	$ 10	$ 6.4
Weighted average amortization period (in years)									25 years
Promotional, Marketing and Distribution Rights [Member]
Other Intangible Assets [Line Items]
Weighted average amortization period (in years)									25 years
Customer and Distributor Relationships [Member]
Other Intangible Assets [Line Items]
Weighted average amortization period (in years)									29 years
Patents and Other Intangible Assets [Member]
Other Intangible Assets [Line Items]
Weighted average amortization period (in years)									13 years
Technology-Based Intangible Assets [Member]
Other Intangible Assets [Line Items]
Weighted average amortization period (in years)									17 years
After One Year of Meeting Supply Target [Member]
Other Intangible Assets [Line Items]
Conditional payment, amount paid					$ 34
After Two Year of Meeting Supply Target [Member]
Other Intangible Assets [Line Items]
Conditional payment, amount paid				$ 16.7
After Year Three of Meeting Supply Target [Member]
Other Intangible Assets [Line Items]
Conditional payment, amount paid			$ 16.7
After Year Four of Meeting Supply Target [Member]
Other Intangible Assets [Line Items]
Conditional payment, amount paid	$ 16.7
SurgiQuestInc [Member]
Other Intangible Assets [Line Items]
Weighted average amortization period (in years)		20 years
SurgiQuestInc [Member] | Customer and Distributor Relationships [Member]
Other Intangible Assets [Line Items]
Weighted average amortization period (in years)		22 years
SurgiQuestInc [Member] | Technology-Based Intangible Assets [Member]
Other Intangible Assets [Line Items]
Weighted average amortization period (in years)		17 years

Guarantees (Details)

Guarantees (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Guarantees [Abstract]
Standard warranty period (in years)	1 year
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 2,509	$ 2,286
Provision for warranties	1,692	1,950
Claims made	(1,770)	(1,716)
Ending balance	$ 2,431	$ 2,520

Pension Plan (Details)

Pension Plan (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Service cost	$ 113	$ 52	$ 226	$ 120
Interest cost on projected benefit obligation	719	810	1,438	1,697
Expected return on plan assets	(1,297)	(1,380)	(2,594)	(2,849)
Net amortization and deferral	695	805	1,390	1,617
Net periodic pension cost	$ 230	$ 287	$ 460	$ 585

Acquisition, Restructuring an44

Acquisition, Restructuring and Other Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Acquisition, Restructuring and Other Expense [Line Items]
Restructuring costs			$ 4,735	$ 12,327
Debt refinancing costs included in other expense	$ 0	$ 0	2,942	0
Debt Instrument, Financing Costs Expensed			2,700
Loss on early extinguishment of debt			254	0
Assets held-for-sale	3,100		3,100
Restructuring reserve	2,155	7,684	2,155	7,684	$ 7,175	$ 8,254
Cost of Sales [Member]
Acquisition, Restructuring and Other Expense [Line Items]
Restructuring costs	4,673	1,534	5,537	3,863
Cost of Sales [Member] | Facility Consolidation Costs [Member]
Acquisition, Restructuring and Other Expense [Line Items]
Restructuring costs	127	1,534	991	3,863
Cost of Sales [Member] | Termination of Product Offering [Member]
Acquisition, Restructuring and Other Expense [Line Items]
Restructuring costs	4,546	0	4,546	0
Selling and Administrative Expenses [Member]
Acquisition, Restructuring and Other Expense [Line Items]
Acquisition, restructuring and other expense included in selling and administrative expense	5,949	2,284	17,785	8,464
Selling and Administrative Expenses [Member] | Administrative Restructuring [Member]
Acquisition, Restructuring and Other Expense [Line Items]
Restructuring costs	953	2,284	3,744	8,464
Other Expense [Member]
Acquisition, Restructuring and Other Expense [Line Items]
Debt refinancing costs included in other expense	0	0	2,942	0
SurgiQuestInc [Member] | Selling and Administrative Expenses [Member]
Acquisition, Restructuring and Other Expense [Line Items]
Business acquisition costs	$ 4,996	$ 0	$ 14,041	$ 0

Acquisition, Restructuring an45

Acquisition, Restructuring and Other Expense (Restructuring Accrual) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Restructuring accrual
Restructuring accrual, beginning balance	$ 7,175	$ 8,254
Expenses incurred	4,735	12,327
Payments made	(9,755)	(12,897)
Restructuring accrual, ending balance	$ 2,155	$ 7,684

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net sales	$ 193,433	$ 181,027	$ 374,634	$ 358,967
Orthopedic Surgery [Member]
Segment Reporting Information [Line Items]
Net sales	92,742	96,801	186,183	195,398
General Surgery [Member]
Segment Reporting Information [Line Items]
Net sales	87,570	71,111	163,470	137,173
Surgical Visualization [Member]
Segment Reporting Information [Line Items]
Net sales	$ 13,121	$ 13,115	$ 24,981	$ 26,396

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Loss Contingencies [Line Items]
Product liability insurance, amount per incident	$ 25
Product liability insurance, aggregate annual amount	25
Lexion Alleged Lost Profits [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	14.8
Lexion Costs Related to Alleged Corrective Advertising [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 18.7

New Accounting Pronouncements48

New Accounting Pronouncements New Accounting Pronouncements (Details) $ in Thousands	Dec. 31, 2015USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Current deferred income tax assets	$ 0
Long-term deferred income tax assets	4,238
Long-term deferred income tax liabilities	(103,379)
Deferred Tax Liabilities, Net	(99,141)
Previous Accounting Guidance [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Current deferred income tax assets	14,150
Long-term deferred income tax assets	1,332
Long-term deferred income tax liabilities	(114,623)
Deferred Tax Liabilities, Net	(99,141)
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Current deferred income tax assets	(14,150)
Long-term deferred income tax assets	2,906
Long-term deferred income tax liabilities	11,244
Deferred Tax Liabilities, Net	$ 0

Long Term Debt (Details)

Long Term Debt (Details) - USD ($)	Jan. 04, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term Debt		$ 518,784,000		$ 270,810,000
Long-term Debt, Current Maturities		10,145,000		1,339,000
Long-term Debt, Excluding Current Maturities		508,639,000		269,471,000
Unamortized Debt Issuance Expense		$ 700,000		0
Effective interest rate (percentage)		2.47%
Debt Instrument, Financing Costs Expensed		$ 2,700,000
Loss on early extinguishment of debt		254,000	$ 0
Remaining borrowing capacity		175,900,000
Letters of Credit Outstanding, Amount		4,800,000
Maturities of Long-term Debt [Abstract]
July 1, 2016 - June 30, 2017		10,145,000
July 1, 2017 - June 30, 2018		12,449,000
July 1, 2018 - June 30, 2019		16,951,000
July 1, 2019 - June 30, 2020		17,500,000
July 1, 2020 - June 30, 2021		462,439,000
Amended and Restated Senior Credit Agreement [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Variable rate (percentage)	1.00%
Amended and Restated Senior Credit Agreement [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Variable rate (percentage)	2.00%
Loans Payable [Member]
Debt Instrument [Line Items]
Long-term Debt		169,925,000		0
Long-term Debt, Gross		170,600,000
Loans Payable [Member] | Amended and Restated Senior Credit Agreement [Member]
Debt Instrument [Line Items]
Face amount	$ 175,000,000
Line of Credit [Member]
Debt Instrument [Line Items]
Long-term Debt		344,314,000		265,609,000
Line of Credit [Member] | Amended and Restated Senior Credit Agreement [Member]
Debt Instrument [Line Items]
Borrowing capacity	$ 525,000,000
Mortgages [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 4,545,000		$ 5,201,000
Debt Instrument, Interest Rate, Stated Percentage		8.25%