DEI Document
DEI Document - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Jan. 31, 2016 | Jun. 30, 2015 | |
Entity Information [Line Items] | |||
Entity Registrant Name | ICU MEDICAL INC/DE | ||
Entity Central Index Key | 883,984 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 16,119,568 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Entity Well-Known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Public Float | $ 1,362,886,674 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 336,164,000 | $ 275,812,000 |
Investment securities | 41,233,000 | 70,952,000 |
Cash, cash equivalents and investment securities | 377,397,000 | 346,764,000 |
Accounts receivable, net of allowance for doubtful accounts of $1,101 at December 31, 2015 and $1,127 at December 31, 2014 | 57,847,000 | 39,051,000 |
Inventories | 43,632,000 | 36,933,000 |
Prepaid income taxes | 14,366,000 | 3,963,000 |
Prepaid expenses and other current assets | 7,631,000 | 5,818,000 |
Assets Held-for-sale, Not Part of Disposal Group, Current | 4,134,000 | 0 |
Total current assets | 505,007,000 | 432,529,000 |
PROPERTY AND EQUIPMENT, net | 74,320,000 | 86,091,000 |
GOODWILL | 6,463,000 | 1,478,000 |
INTANGIBLE ASSETS, net | 23,936,000 | 7,063,000 |
DEFERRED INCOME TAXES | 17,099,000 | 13,941,000 |
TOTAL ASSETS | 626,825,000 | 541,102,000 |
CURRENT LIABILITIES: | ||
Accounts payable | 13,670,000 | 11,378,000 |
Accrued liabilities | 28,948,000 | 17,350,000 |
Total current liabilities | 42,618,000 | 28,728,000 |
DEFERRED INCOME TAXES | 1,372,000 | 1,376,000 |
INCOME TAX LIABILITY | 1,488,000 | 2,746,000 |
COMMITMENTS AND CONTINGENCIES | 0 | 0 |
LONG-TERM LIABILITIES | 1,476,000 | 0 |
STOCKHOLDERS' EQUITY: | ||
Convertible preferred stock, $1.00 par value Authorized-500 shares; Issued and outstanding - none | 0 | 0 |
Common stock, $0.10 par value - Authorized-80,000 shares; Issued and outstanding, 16,086 shares at December 31, 2015 and 15,595 shares at December 31, 2014 | 1,608,000 | 1,559,000 |
Additional paid-in capital | 145,125,000 | 107,336,000 |
Retained earnings | 453,896,000 | 408,911,000 |
Accumulated other comprehensive loss | (20,758,000) | (9,554,000) |
Total stockholders' equity | 579,871,000 | 508,252,000 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 626,825,000 | 541,102,000 |
Allowance for doubtful accounts | $ 1,101,000 | $ 1,127,000 |
Convertible preferred stock, par value | $ 1 | $ 1 |
Convertible preferred stock, authorized shares | 500,000 | 500,000 |
Convertible preferred stock, issued shares | $ 0 | $ 0 |
Convertible preferred stock, outstanding shares | 0 | 0 |
Common stock, par value | $ 0.1 | $ 0.1 |
Common stock, shares authorized | 80,000,000 | 80,000,000 |
Common stock, shares issued | 16,086,000 | 15,595,000 |
Common stock, shares outstanding | 16,086,000 | 15,595,000 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
REVENUES: | |||
Net sales | $ 341,254 | $ 308,770 | $ 313,056 |
Other | 414 | 490 | 660 |
TOTAL REVENUE | 341,668 | 309,260 | 313,716 |
COST OF GOODS SOLD | 160,871 | 157,859 | 158,984 |
Gross profit | 180,797 | 151,401 | 154,732 |
OPERATING EXPENSES: | |||
Selling, general and administrative | 83,216 | 88,939 | 89,006 |
Research and development | 15,714 | 18,332 | 12,407 |
Restructuring and strategic transaction | 8,451 | 5,093 | 1,370 |
Gain on sale of building | (1,086) | 0 | 0 |
Legal settlements, net | 1,798 | 0 | 0 |
Impairment of assets held for sale | 4,139 | 0 | 0 |
Total operating expenses | 112,232 | 112,364 | 102,783 |
Income from operations | 68,565 | 39,037 | 51,949 |
OTHER INCOME | 1,134 | 755 | 765 |
Income before income taxes | 69,699 | 39,792 | 52,714 |
PROVISION FOR INCOME TAXES | (24,714) | (13,457) | (12,296) |
NET INCOME | $ 44,985 | $ 26,335 | $ 40,418 |
NET INCOME PER SHARE | |||
Basic | $ 2.84 | $ 1.72 | $ 2.75 |
Diluted | $ 2.73 | $ 1.68 | $ 2.65 |
WEIGHTED AVERAGE NUMBER OF SHARES | |||
Basic (in shares) | 15,848 | 15,282 | 14,688 |
Diluted (in shares) | 16,496 | 15,647 | 15,274 |
Statement of Comprehensive Inco
Statement of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net income | $ 44,985 | $ 26,335 | $ 40,418 |
Other comprehensive (loss) income, net of tax of ($2,680), ($3,129) and $803 for the years ended December 31, 2015, 2014 and 2013, respectively: | |||
Foreign currency translation adjustment | (11,204) | (11,747) | 3,622 |
Comprehensive income | 33,781 | 14,588 | 44,040 |
Tax effect on change in other comprehensive income | $ (2,680) | $ (3,129) | $ 803 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance, Shares at Dec. 31, 2012 | 14,458,000 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of restricted stock and exercise of stock options, shares issued | 733,000 | |||||
Treasury Stock, Shares | (140,000) | |||||
Employee stock purchase plan, shares issued | 51,000 | |||||
Balance, Shares at Dec. 31, 2013 | 15,102,000 | |||||
Balance at Dec. 31, 2012 | $ 390,857 | $ 1,486 | $ 63,770 | $ (15,128) | $ 342,158 | $ (1,429) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of restricted stock and exercise of stock options, value | 24,970 | 24 | 2,030 | 22,916 | ||
Treasury Stock, Value | (3,033) | 6,678 | (9,711) | |||
Proceeds from employee stock purchase plan | 2,457 | 0 | 583 | 1,874 | ||
Stock compensation | 5,434 | 5,434 | ||||
Foreign Currency Translation Adjustment | 3,622 | 3,622 | ||||
Net Income | 40,418 | 40,418 | ||||
Balance at Dec. 31, 2013 | $ 464,725 | $ 1,510 | 78,495 | (49) | 382,576 | 2,193 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of restricted stock and exercise of stock options, shares issued | 544,000 | |||||
Treasury Stock, Shares | (98,000) | |||||
Employee stock purchase plan, shares issued | 47,000 | |||||
Balance, Shares at Dec. 31, 2014 | 15,595,000 | 15,595,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of restricted stock and exercise of stock options, value | $ 22,698 | $ 48 | 18,528 | 4,122 | ||
Treasury Stock, Value | (5,836) | 285 | (6,121) | |||
Proceeds from employee stock purchase plan | 2,485 | 1 | 436 | 2,048 | ||
Stock compensation | 9,592 | 9,592 | ||||
Foreign Currency Translation Adjustment | (11,747) | (11,747) | ||||
Net Income | 26,335 | 26,335 | ||||
Balance at Dec. 31, 2014 | $ 508,252 | $ 1,559 | 107,336 | 0 | 408,911 | (9,554) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of restricted stock and exercise of stock options, shares issued | 475,000 | |||||
Treasury Stock, Shares | (18,000) | |||||
Employee stock purchase plan, shares issued | 34,000 | |||||
Balance, Shares at Dec. 31, 2015 | 16,086,000 | 16,086,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of restricted stock and exercise of stock options, value | $ 24,372 | $ 46 | 22,715 | 1,611 | ||
Treasury Stock, Value | (1,523) | 88 | (1,611) | |||
Proceeds from employee stock purchase plan | 2,162 | 3 | 2,159 | 0 | ||
Stock compensation | 12,827 | 12,827 | ||||
Foreign Currency Translation Adjustment | (11,204) | (11,204) | ||||
Net Income | 44,985 | 44,985 | ||||
Balance at Dec. 31, 2015 | $ 579,871 | $ 1,608 | $ 145,125 | $ 0 | $ 453,896 | $ (20,758) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net Income | $ 44,985 | $ 26,335 | $ 40,418 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 18,073 | 19,447 | 19,506 |
Provision for doubtful accounts | 54 | 34 | 185 |
Provision for warranty and returns | 52 | (360) | 671 |
Stock compensation | 12,827 | 9,592 | 5,434 |
(Gain) loss on disposal of property and equipment | (1,106) | 8 | (36) |
Bond premium amortization | 1,670 | 2,188 | 2,715 |
Impairment of assets held for sale | 4,139 | 0 | 0 |
Cash provided (used) by changes in operating assets and liabilities | |||
Accounts receivable | (20,515) | 4,912 | 3,556 |
Inventories | (8,337) | (3,836) | 2,319 |
Prepaid expenses and other assets | (1,832) | 1,970 | (383) |
Accounts payable | 3,118 | (621) | (31) |
Accrued liabilities | 9,454 | 2,344 | (2,215) |
Income taxes, including excess tax benefits and deferred income taxes | (7,717) | (1,373) | (6,413) |
Net cash provided by operating activities | 54,865 | 60,640 | 65,726 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of property and equipment | (12,984) | (16,604) | (18,415) |
Proceeds from sale of assets | 3,592 | 5 | 49 |
Intangible asset additions | (951) | (989) | (1,080) |
Business acquisitions, net of cash acquired | (56,786) | 0 | 0 |
Proceeds from sale of business | 28,970 | 0 | 0 |
Purchases of investment securities | (56,137) | (93,588) | (86,022) |
Proceeds from sale of investment securities | 83,054 | 89,426 | 92,348 |
Net cash used by investing activities | (11,242) | (21,750) | (13,120) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from exercise of stock options | 15,042 | 16,998 | 18,004 |
Proceeds from employee stock purchase plan | 2,162 | 2,485 | 2,457 |
Excess tax benefit from exercise of stock options | 9,330 | 5,700 | 6,966 |
Purchase of treasury stock | (1,523) | (5,836) | (3,033) |
Net cash provided by financing activities | 25,011 | 19,347 | 24,394 |
Effect of exchange rate changes on cash | (8,282) | (8,447) | 2,122 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 60,352 | 49,790 | 79,122 |
CASH AND CASH EQUIVALENTS, beginning of period | 275,812 | 226,022 | 146,900 |
CASH AND CASH EQUIVALENTS, end of period | 336,164 | 275,812 | 226,022 |
SUPPLEMENTAL DISCLSOURE OF CASH FLOW INFORMATION | |||
Cash paid during the year for income taxes | 22,998 | 8,668 | 12,172 |
NON-CASH INVESTING ACTIVITIES | |||
Accrued liabilities for property and equipment | 182 | 789 | 212 |
Fair value of assets acquired | 60,693 | 0 | 0 |
Liabilities assumed | $ (3,907) | $ 0 | $ 0 |
General and Summary of Signific
General and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Summary of Significant Accounting Policies [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note 1: General and Summary of Significant Accounting Policies a. Description of Business/Basis of Presentation ICU Medical, Inc., a Delaware corporation, operates in one business segment engaged in the development, manufacturing and sale of innovative medical technologies used in infusion therapy, critical care and oncology applications. Our devices are sold directly or to distributors and medical product manufacturers throughout the United States and internationally. The manufacturing for all product groups occurs in Salt Lake City, Slovakia and Mexico. Assets and operating expenses are not allocated to individual product groups. In 2015, we made the decision to begin shutting down our manufacturing facility in Slovakia and to move those products to our facility in Mexico. We expect to finish that process in the second half of 2016. All subsidiaries are wholly owned and are included in the consolidated financial statements. All intercompany balances and transactions have been eliminated. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). b. Cash and Cash Equivalents Cash equivalents are investments with an original maturity of three months or less. c. Accounts Receivable Accounts receivable are stated at net realizable value. An allowance is provided for estimated collection losses based on an assessment of various factors. We consider prior payment trends, the age of the accounts receivable balances, financial status and other factors to estimate the cash which ultimately will be received. Such amounts cannot be known with certainty at the financial statement date. We regularly review individual past due balances for collectability. d. Inventories Inventories are stated at the lower of cost or market with cost determined using the first-in, first-out method. Inventory costs include material, labor and overhead related to the manufacturing of medical devices. Inventories consist of the following at December 31: 2015 2014 Raw material $ 24,681 $ 23,006 Work in process 4,282 3,546 Finished goods 14,669 10,381 Total $ 43,632 $ 36,933 e. Property and Equipment Property and equipment consist of the following at December 31: 2015 2014 Machinery and equipment $ 96,909 $ 90,744 Land, building and building improvements 56,716 71,415 Molds 36,436 33,166 Computer equipment and software 23,346 23,228 Furniture and fixtures 3,638 3,571 Construction in progress 6,003 2,590 Total property and equipment, cost 223,048 224,714 Accumulated depreciation (148,728 ) (138,623 ) Net property and equipment $ 74,320 $ 86,091 All property and equipment are stated at cost. We use the straight-line method for depreciating property and equipment over their estimated useful lives. Estimated useful lives are: Buildings 15 - 30 years Building improvements 15 years Machinery and equipment 2 - 10 years Furniture, fixtures and molds 2 - 5 years Computer equipment and software 3 - 5 years We capitalize expenditures that materially increase the life of the related assets; maintenance and repairs are expensed as incurred. The costs and related accumulated depreciation applicable to property and equipment sold or retired are removed from the accounts and any gain or loss is reflected in the statements of income at the time of disposal. Depreciation expense was $15.9 million , $17.0 million and $17.0 million in the years ended December 31, 2015 , 2014 and 2013 , respectively. The cost of property and equipment are presented net of government incentive reimbursements we received from the Slovakian government for building a manufacturing plant in their country. Government incentives recorded in property and equipment were $2.2 million at December 31, 2015 and $3.3 million December 31, 2014 . f. Goodwill We test goodwill for impairment on an annual basis in the month of November. If the carrying amount of goodwill exceeds the implied estimated fair value, an impairment charge to current operations is recorded to reduce the carrying value to the implied estimated fair value. There were no accumulated impairment losses as of December 31, 2015 and 2014 . During 2015, we acquired EXC Holding Corp. ("EXC"), as a result of the acquisition $5.0 million was added as acquired goodwill, see Note 3, Acquisitions and Strategic Expenses. g. Intangible Assets Intangible assets, carried at cost less accumulated amortization and amortized on a straight-lined basis, were as follows: Weighted Average December 31, 2015 Amortization Life in Years Cost Accumulated Amortization Net Patents 10 $ 13,308 $ 8,302 $ 5,006 MCDA contract * 10 8,571 8,571 — Customer contracts 9 5,319 4,133 1,186 Non-contractual customer relationships 15 7,080 118 6,962 Trademarks 4 425 425 — Trade name 15 7,310 122 7,188 Developed technology 10 3,686 92 3,594 Total $ 45,699 $ 21,763 $ 23,936 Weighted Average December 31, 2014 Amortization Life in Years Cost Accumulated Amortization Net Patents 9 $ 12,357 $ 7,315 $ 5,042 MCDA contract * 10 8,571 8,285 286 Customer contracts 9 5,319 3,584 1,735 Trademarks 4 425 425 — Total $ 26,672 $ 19,609 $ 7,063 *MCDA contract: Manufacturing, Commercialization and Development Agreement with Hospira, Inc., dated May 1, 2005 (the "MCDA”). Amortization expense in 2015 , 2014 and 2013 was $2.2 million , $2.4 million and $2.5 million , respectively. Estimated annual amortization for each of the next five years is approximately $2.7 million for 2016 , $2.5 million for 2017 , $2.4 million for 2018 , $2.0 million for 2019 and $1.9 million for 2020 . h. Long-Lived Assets We periodically evaluate the recoverability of long-lived assets whenever events and changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. When indicators of impairment are present, the carrying values of the assets are evaluated in relation to the operating performance and future undiscounted cash flows of the underlying business. The net book value of the underlying asset is adjusted to fair value if the sum of the expected discounted cash flows is less than book value. Fair values are based on estimates of market prices and assumptions concerning the amount and timing of estimated future cash flows and discount rates, reflecting varying degrees of perceived risk. i. Investment Securities Our investment securities, which are carried at fair market value and are considered available-for-sale, consist principally of certificates of deposits, corporate bonds, U.S. Treasury securities, commercial paper and federal tax-exempt state and municipal government debt. Available-for-sale securities are recorded at fair value, and unrealized holding gains and losses are recorded, net of tax, as a component of accumulated other comprehensive income. Unrealized losses on available-for-sale securities are charged against net earnings when a decline in fair value is determined to be other than temporary. Our management reviews several factors to determine whether a loss is other than temporary, such as the length and extent of the fair value decline, the financial condition and near term prospects of the issuer, and for equity investments, our intent and ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. For debt securities, management also evaluates whether we have the intent to sell or will likely be required to sell before its anticipated recovery. Realized gains and losses are accounted for on the specific identification method. j. Income Taxes Deferred taxes are determined based on the differences between the financial statements and the tax bases using rates as enacted in the laws. A valuation allowance is established if it is “more likely than not” that all or a portion of the deferred tax assets will not be realized. We recognize interest and penalties related to unrecognized tax benefits in the tax provision. We recognize liabilities for uncertain tax positions when it is more likely than not that a tax position will not be sustained upon examination and settlement with various taxing authorities. Liabilities for uncertain tax positions are measured based upon the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. We have not recorded any material interest or penalties during any of the years presented. The deduction we receive from indirect tax benefits from the exercise of stock options, such as those recognized for research and development credits and domestic production activities deductions, is recorded as a reduction to the tax provision. The direct tax benefits of share based compensation are recorded through additional-paid-in capital. k. Foreign Currency We have operations in Europe where the functional currency is the Euro and operations in Australia where the functional currency is the Australian dollar. Assets and liabilities are translated to U.S. dollars at the exchange rate in effect at the balance sheet date and revenues and expenses are translated at the average monthly exchange rates during the year. Translation adjustments are recorded as a component of accumulated other comprehensive income, a separate component of stockholders' equity on our consolidated balance sheets and the effect of exchange rate changes on cash and cash equivalents are reflected on our consolidated statements of cash flows. Gains and losses for transactions denominated in a currency other than the functional currency of the entity are included in our statements of operations. Foreign currency transaction gains and losses were $0.2 million in 2015 , $0.1 million in 2014 and less than $0.1 million in 2013 . l. Revenue Recognition Most of our product sales are free on board shipping point and ownership of the product transfers to the customer on shipment. We record sales and related costs when ownership of the product transfers to the customer, persuasive evidence of an arrangement exists, collectability is reasonably assured and the sales price is determinable. Our customers are distributors, medical product manufacturers and end-users. Our only post-sale obligations are warranty and certain rebates. We warrant products against defects and have a policy permitting the return of defective products. We reserve for warranty and returns based on historical experience. We accrue rebates based on agreements and on historical experience as a reduction in revenue at the time of sale. Other revenue consists of license, royalty and revenue sharing payments. Payments expected to be received are estimated and recorded in the period earned, and adjusted to actual amounts when reports are received from payers; if there is insufficient data to make such estimates, payments are not recorded until reported by the payers. m. Shipping Costs Costs to ship finished goods to our customers are included in cost of goods sold on the consolidated statements of income. n. Advertising Expenses Advertising expenses are expensed as incurred and reflected in selling, general and administrative expenses in our consolidated statements of income and were $0.2 million in 2015 , $0.1 million in 2014 and $0.3 million in 2013 . o. Post-retirement and Post-employment Benefits We do not provide retirement or post-employment benefits to employees other than our Section 401(k) retirement plan ("plan") for employees. Our contributions to the plan were approximately $1.3 million in 2015 , $1.3 million in 2014 and $1.1 million in 2013 . p. Research and Development Research and development costs are expensed as incurred. q. Net Income Per Share Net income per share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted net income per share is computed by dividing net income by the weighted average number of common shares outstanding plus dilutive securities. Dilutive securities are outstanding common stock options (excluding stock options with an exercise price in excess of the average market value for the period), less the number of shares that could have been purchased with the proceeds from the exercise of the options, using the treasury stock method. Options that are anti-dilutive because their exercise price exceeded the average market price of the common stock for the period approximated 16,000 shares in 2014 and 10,000 shares in 2013 . There were no anti-dilutive options in 2015. The following table presents the calculation of net earnings per common share (“EPS”) — basic and diluted. Year ended December 31, (in thousands, except per share data) 2015 2014 2013 Net income $ 44,985 $ 26,335 $ 40,418 Weighted average number of common shares outstanding (basic) 15,848 15,282 14,688 Dilutive securities 648 365 586 Weighted average common and common equivalent shares outstanding (diluted) 16,496 15,647 15,274 EPS - basic $ 2.84 $ 1.72 $ 2.75 EPS - diluted $ 2.73 $ 1.68 $ 2.65 r. Accounting Estimates Preparing financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. s. New Accounting Pronouncements In November 2015, the FASB issued ASU No. 2015-17 Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. ASU 2015-17 requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments are effective prospectively or retrospectively for annual periods beginning after December 15, 2016 and interim periods within those annual periods. We early adopted ASU 2015-17 retrospectively as of the year ended December 31, 2015. The adoption of this standard resulted in the reclassification of $4.7 million from current deferred income tax assets in the consolidated balance sheet as of December 31, 2014 resulting in adjusted total noncurrent deferred income tax assets $13.9 million . Adoption of this standard did not impact results of operations, retained earnings, or cash flows in the current or previous annual reporting periods. In September 2015, the Financial Accounting Standards Board ("FASB") issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. ASU 2015-16 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, including the cumulative effect of the change in provisional amount as if the accounting had been completed at the acquisition date. The adjustments related to previous reporting periods since the acquisition date must be disclosed by income statement line item either on the face of the income statement or in the notes. The amendments are effective prospectively for the fiscal years, and interim reporting periods within those years, beginning on or after December 15, 2015 (early adoption is permitted only for financial statements that have not been issued). We do not anticipate a material impact on our consolidated financial statements from adoption of this ASU. In July 2015, the FASB issued ASU No. 2015-11 Inventory (Topic 330): Simplifying the Measurement of Inventory. ASU 2015-11 changes the measurement of inventory from lower of cost or market to lower of cost and net realizable value. The amendments are effective prospectively for the fiscal years, and interim reporting periods within those years, beginning on or after December 15, 2016. We do not anticipate a material impact on our consolidated financial statements from adoption of this ASU. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 removes inconsistencies and weaknesses in revenue requirements, provides a more robust framework for addressing revenue issues, improves comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets, provides more useful information to users of financial statements through improved disclosure requirements and simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer. This guidance requires that an entity depict the consideration by applying a five-step analysis in determining when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. On April 1, 2015, the FASB voted for a one-year deferral of the effective date of the new revenue recognition standard, ASU No. 2014-09. On July 15, 2015, the FASB affirmed these changes, which requires public entities to apply the amendments in ASU 2014-09 for annual reporting beginning after December 15, 2017. Early adoption is permitted beginning after December 31, 2016, the original effective date in ASU 2014-09. We are currently evaluating the impact of this ASU on the consolidated financial statements and related disclosures. In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period. ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The amendments in ASU 2014-12 are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in ASU 2014-12 either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. This guidance will become effective for us at the beginning of the first quarter of 2016. We do not anticipate a material impact on our consolidated financial statements from adoption of this ASU. |
Restructuring Charges (Notes)
Restructuring Charges (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Restructuring Charges [Abstract] | |
Restructuring and Related Activities Disclosure [Text Block] | Restructuring Charges In 2015, we incurred $6.7 million in total restructuring charges related to: (i) a commitment to a plan to sell our Slovakia manufacturing facility. The assets of the manufacturing facility are classified as assets held for sale and are included as a separate line item in our consolidated balance sheet. The sale is expected to be completed during the third quarter of 2016. The plan to sell the facility resulted in a pre-tax restructuring charge of $4.2 million for employee termination benefits, government incentive repayments and other associated costs; (ii) an agreement with Dr. Lopez, a member of our Board of Directors and a former employee in our research and development department, pursuant to which we bought out Dr. Lopez's right to employment under his then-existing employment agreement. The $1.9 million buy-out, including payroll taxes, will be paid in equal monthly installments until December 2020. Payments that will exceed one year have been accrued under long-term liabilities in our consolidated balance sheet; and (iii) the reorganization of our corporate infrastructure, resulting in one-time employee termination benefits and other associated costs. The buy-out agreement and corporate restructuring actions resulted in a total charge of $2.5 million . In 2014, we reorganized our selling and corporate infrastructure, resulting in a reduction in workforce of 69 employees. The $3.5 million restructuring charge, which is presented as a separate line item on our consolidated statements of income, is combined with strategic transaction expenses. The restructuring charge is comprised of employee termination benefits and other associated costs. The following table summarizes the activity for the restructuring-related charges discussed above and related accrual (in thousands): Accrued Balance December 31, 2013 Charges incurred Payments Accrued Balance December 31, 2014 Charges incurred Payments Accrued Balance December 31, 2015 Severance pay and benefits $ — $ 3,530 $ (2,172 ) $ 1,358 $ 2,582 $ (1,435 ) $ 2,505 Government incentive repayment — — — — 1,884 — 1,884 Employment agreement buyout — — — — 1,905 (60 ) 1,845 Other corporate restructuring — 11 — 11 305 (11 ) 305 $ — 3,541 (2,172 ) $ 1,369 6,676 (1,506 ) $ 6,539 |
Acquisitions and Strategic Tran
Acquisitions and Strategic Transaction Expenses (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Acquisitions and Strategic Transaction Expenses [Abstract] | |
Acquisitions and Strategic Transaction Expenses [Text Block] | Acquisitions and Strategic Transaction Expenses Acquisitions On October 6, 2015, we acquired 100% of the outstanding shares of EXC, for approximately $59.5 million in cash. Immediately following the completion of the acquisition of EXC, we sold certain assets to Excelsior Medical, LLC for a final purchase price including working capital adjustments of $29.0 million in cash. We retained all of the assets related to the business of manufacturing and selling the needleless connector disinfection cap. The acquisition of EXC's SwabCap business enhances our infusion therapy product offering across our existing direct and original equipment manufacturer ("OEM") business lines. The goodwill recognized for this acquisition is attributable to the benefits expected to be derived from product line expansion, new customers and operational synergies. The goodwill is nondeductible for income tax purposes. The following table summarizes the final purchase price and the allocation of the purchase price related to the assets and liabilities retained (in thousands): Fair Value of Consideration: Cash, net of cash acquired $ 56,786 Allocation of the Purchase Price: Net assets sold to Excelsior Medical, LLC $ 28,970 Prepaid expenses and other current assets 254 Deferred tax asset/liabilities 4,426 Property and equipment 3,982 Identifiable intangible assets (1) 18,076 Goodwill 4,985 Assumed liabilities (3,907 ) Net Assets Acquired $ 56,786 ______________________________ (1) Identifiable intangible assets include $7.1 million of non-contractual customer relationships, $3.7 million of developed technology and $7.3 million of trade name. The weighted-average amortization period for the total identifiable intangible assets is approximately fourteen years. The weighted-average amortization period for customer relationships and trade name is fifteen years and the weighted-average amortization period for the developed technology is ten years. The identifiable intangible assets and other long-lived assets acquired have been valued as Level 3 assets at fair market value by an independent financial valuation and advisory services firm. The estimated fair value of identifiable intangible assets was developed using the income approach and is based on critical estimates, judgments and assumptions derived from: analysis of market conditions; discount rate; discounted cash flows; royalty rates; customer retention rates; and estimated useful lives. The prepaid expenses and other current assets and assumed liabilities were recorded at their carrying values as of the date of the acquisition, as their carrying values approximated their fair values due to their short-term nature. Strategic Transaction Expenses In 2015, we incurred $1.8 million in charges primarily associated with the acquisition of EXC. In 2014 and 2013, we incurred $1.6 million and $1.4 million , respectively, in charges associated with strategic transactions that did not go forward. Transaction expenses are presented on a separate line item on our statements of income and are combined with restructuring charges. |
Gain on sale of building (Notes
Gain on sale of building (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Gain on Sale of Building [Abstract] | |
Gain on sale of building [Text Block] | Gain on Sale of Building On September 30, 2015, we sold an office building in our San Clemente location to Dr. Lopez. The building was sold for $3.6 million , its fair market value as determined by a third party. The net book value of the land and building was $2.5 million , resulting in a gain on the sale of the land and building of $1.1 million . |
Legal settlements (Notes)
Legal settlements (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Legal Settlements [Abstract] | |
Legal settlement [Text Block] | Legal Settlements During 2015, an arbitrator ruled on a breach of contract claim between us and a customer, Hospira, Inc., awarding Hospira $8.2 million Canadian dollars ( $6.5 million U.S. dollars). The arbitrator also ruled that we pay 75% of Hospira's legal fees and expenses, which were $0.7 million U.S. dollars. We made a $7.5 million U.S. dollars settlement payment during 2015, which includes a foreign exchange transaction adjustment to Canadian dollars at the time of payment. Also during 2015, an arbitrator ruled on a breach of contract claim between us and a service provider, awarding us $8.8 million . Our legal counsel for this matter represented us under a contingency fee agreement. We recorded a settlement award, net of legal fees and costs, of $5.3 million . |
Impairment on assets held for s
Impairment on assets held for sale (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Impairment of assets held for sale [Abstract] | |
Asset Impairment Charges [Text Block] | Impairment on Assets Held for Sale On November 16, 2015, our Board of Directors authorized us to close our Vrable, Slovakia manufacturing facility. The closure is to enable for greater efficiency of our Ensenada, Mexico facility. The expected completion date for the closure is during the third quarter of 2016. In correlation with the Board's authorization we reclassified the land and building related to the Slovakia facility as held for sale, as such we record the value of those assets at the lower of their carrying value or their estimated fair value, less costs to sell. A third party fair market valuation on the held for sale assets resulted in an impairment charge of $4.1 million . The impairment charge is separately stated in our consolidated statements of income above income from operations. |
Share Based Award Share awards
Share Based Award Share awards (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Share Based Awards We have a stock incentive plan for employees and directors and an employee stock purchase plan. Shares to be issued under these plans will be issued either from authorized but unissued shares or from treasury shares. We incur stock compensation expense for stock options, restricted stock units ("RSU"), performance restricted stock units ("PRSU") and stock purchased under our employee stock purchase plan ("ESPP"). We receive a tax benefit on stock compensation expense, excluding the direct tax benefits from exercise of stock options, which is reported separately on the consolidated statements of cash flows. We also have indirect tax benefits upon exercise of stock options related to research and development tax credits which were recorded as a reduction of income tax expense. The table below summarizes compensation costs and related tax benefits for the years ended December 31, 2015 , 2014 and 2013 . Year ended December 31, (In thousands) 2015 2014 2013 Stock compensation expense $ 12,827 $ 9,592 $ 5,434 Tax benefit from stock-based compensation cost $ 4,922 $ 3,567 $ 2,052 Indirect tax benefit $ 1,997 $ 209 $ 866 As of December 31, 2015 , we had $22.7 million of unamortized stock compensation cost which we will recognize as an expense over approximately 1.0 years. Stock Incentive and Stock Option Plans Our 2011 Stock Incentive Plan ("2011 Plan") replaced our 2003 Stock Option Plan (“2003 Plan”). Our 2011 Plan initially had 650,000 shares available for issuance, plus the remaining available shares for grant from the 2003 Plan. In 2012 and 2014, our stockholders approved amendments to the 2011 plan that increased the shares available for issuance by 1,850,000, bringing the initial shares available for issuance to 2,500,000 , plus the remaining 248,700 shares that remained available for grant from the 2003 Plan. In addition, any forfeited, terminated or expired shares that would otherwise return to the 2003 Plan are available under the 2011 Plan. As of December 31, 2015 , the 2011 Plan has 2,763,300 shares of common stock reserved for issuance to employees, which includes 263,300 shares that transferred from the 2003 Plan. Shares issued as options or stock appreciation rights ("SARs") are charged against the 2011 Plan's share reserve as one share for one share issued. Shares subject to awards other than options and SARs are charged against the 2011 Plan's share reserve as 2.09 shares for 1 share issued. Options may be granted with exercise prices at no less than fair market value at date of grant. Options granted under the 2011 Plan may be “non-statutory stock options” which expire no more than ten years from date of grant or “incentive stock options” as defined in Section 422 of the Internal Revenue Code of 1986, as amended. Upon exercise of non-statutory stock options, we are generally entitled to a tax deduction on the exercise of the option for an amount equal to the excess over the exercise price of the fair market value of the shares at the date of exercise; we are generally not entitled to any tax deduction on the exercise of an incentive stock option. The 2011 Plan includes conditions whereby unvested options are cancelled if employment is terminated. In 2014, our Compensation Committee of the Board of Directors awarded our new Chief Executive Officer an employment inducement option to purchase 182,366 shares of our common stock and an employment inducement grant of restricted stock units with respect to 68,039 shares of our common stock. The inducement grants were made out of our 2014 Inducement Incentive Plan ("2014 Plan"). Our 2001 Directors’ Stock Option Plan (the “Directors’ Plan”), initially had 750,000 shares reserved for issuance to members of our Board of Directors, expired in November 2011. Although no new grants may be made under the Director's Plan, grants made under the Director's Plan prior to its expiration continue to remain outstanding. Options not vested terminate if the directorship is terminated. Stock Options To date, all options granted under the 2014 Plan, 2011 Plan, 2003 Plan and Directors' Plan have been non-statutory stock options. The majority of the time-based outstanding employee option grants vest 25% after one year from the grant date and the balance vests ratably on a monthly basis over 36 months. The 2015 performance based stock option grants vest ratably at 33% per year over three years. The 2014 performance based stock option grants vest ratably at 25% per year over four years. The majority of the outstanding options granted to non-employee directors vest one year from the grant date. The options generally expire 10 years from the grant date. The fair value of time-based option grants is calculated using the Black-Scholes option valuation model. The expected term for the option grants was based on historical experience and expected future employee behavior. We estimate the volatility of our common stock at the date of grant based on the historical volatility of our common stock, based on the average expected exercise term. The table below summarizes the total time-based stock options granted, total valuation and the weighted average assumptions for the years ended December 31, 2015 , 2014 and 2013 . Year ended December 31, 2015 2014 2013 Number of time-based options granted 22,816 492,935 244,440 Grant date fair value of options granted (in thousands) $ 590 $ 7,311 $ 3,934 Weighted average assumptions for stock option valuation: Expected term (years) 5.6 4.7 4.6 Expected stock price volatility 25.9 % 26.7 % 29.2 % Risk-free interest rate 1.7 % 1.4 % 0.8 % Expected dividend yield — % — % — % Weighted average grant price per option $ 93.30 $ 58.92 $ 62.12 Weighted average grant date fair value per option $ 25.86 $ 14.83 $ 16.09 The 2015 and 2014 performance stock option grants are exercisable if the common stock price condition and the time-based vesting have been met. For the 2015 grants, the vested performance stock options will be exercisable when the closing price of our common stock is equal to or more than 130% of the exercise price for 30 consecutive trading days during the term of the grant. For the 2014 grants, fifty percent of the vested performance stock options became exercisable when the closing price of our common stock was equal to or more than 125% of the exercise price for 30 consecutive trading days during the term of the grant. The remaining 50% of the vested performance stock options became exercisable when the closing price of our common stock was equal to or more than 150% of the exercise price for 30 consecutive trading days during the term of the grant. Both of the 2014 performance stock option grant's stock price conditions have been met. The 2015 performance stock option grant's stock price conditions have not been met as of December 31, 2015. The fair value of performance option grants is calculated using the Monte Carlo Simulation. The expected term of the performance option grants is based on the expected number of years to achieve the exercisable goal trigger and assumes that the vested option will be immediately exercised or cancelled, if underwater. We estimate the volatility of our common stock at the date of grant based on the historical volatility of our common stock over a 10-year period. The table below summarizes the performance stock options granted, total valuation and the weighted average assumptions for the years ended December 31, 2015 and 2014. Year ended December 31, 2015 2014 Number of performance options granted 244,825 699,625 Grant date fair value of options granted (in thousands) $ 6,087 $ 13,344 Weighted average assumptions for stock option valuation: Expected term (years) 3.0 4.0 Expected stock price volatility 30.86 % 31.7 % Risk-free interest rate 2.3 % 2.9 % Expected dividend yield — % — % Weighted average grant price per option $ 91.88 $ 58.90 Weighted average grant date fair value per option $ 24.86 $ 19.07 A summary of our stock option activity as of and for the year ended December 31, 2015 is as follows: Shares Weighted Average Exercise Price Per Share Weighted Average Contractual Life (Years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2014 2,556,936 $ 49.46 Granted 267,641 $ 92.00 Exercised (435,146 ) $ 34.77 Forfeited or expired (10,024 ) $ 58.20 Outstanding at December 31, 2015 2,379,407 $ 56.90 7.1 $ 132,963 Exercisable at December 31, 2015 1,287,271 $ 48.45 5.9 $ 82,809 Vested and expected to vest, December 31, 2015 2,379,407 $ 56.90 7.1 $ 132,963 The intrinsic values for options exercisable, outstanding and vested or expected to vest at December 31, 2015 is based on our closing stock price of $112.78 at December 31, 2015 and are before applicable taxes. Year ended December 31, (In thousands) 2015 2014 2013 Intrinsic value of options exercised $ 28,071 $ 18,802 $ 21,847 Cash received from exercise of stock options $ 15,042 $ 16,998 $ 18,004 Tax benefit from stock option exercises $ 9,330 $ 5,700 $ 6,966 Stock Awards RSUs are granted to our Board of Directors and vest on the first anniversary of the grant date. In 2015, we granted RSUs to certain new hire employees that vest ratably on the anniversary of the grant over two years and certain other employees that vest ratably on the anniversary of the grant over three years. In 2014, we granted RSUs to our Chief Executive Officer that vest ratably on the anniversary of the grant over three years and to certain other employees that vest ratably on the anniversary of the grant over two years. The fair value of the RSUs is based on the price of the common stock on the grant date. In 2013, we awarded PRSUs to our executive officers. PRSUs are awarded to our executive officers to receive shares of common stock if the measurement period goal is met. The executive PRSUs are based on a one-year market condition performance period measured against a total shareholder return metric ("TSR"). If the TSR is less than the 33rd percentile of our peer group index, 0% of the award would be earned. If the TSR is equal or greater than the 33rd percentile and less than the 50th percentile of our peer group companies, 50% of the award would be earned. If the TSR is equal or greater than the 50th percentile and less than the 75th percentile of our peer group companies, 100% of the award will be earned. If the TSR is equal or greater than the 75th percentile of our peer group companies, 200% of the award will be earned. The PRSUs vest in equal yearly installments with one-third of the grant becoming vested on each of the three anniversary dates of the award. Our executive officers earned 0% of their 2013 award because the TSR was below the 33rd percentile of our peer companies. The fair value of the 2013 PRSUs was calculated using a Monte Carlo simulation embedded in a lattice model. The 2013 calculation used a risk-free interest rate of 0.15% , a closing share price of 61.76 , assumed no dividends and assumed no forfeitures. For the 2013 calculation, the correlation matrix of stock price returns and volatilities were calculated based on one year preceding January 1, 2013. The table below summarizes our restricted stock award activity for the years ended December 31, 2015 , 2014 and 2013 . Year ended December 31, (In thousands except shares and per share amounts) 2015 2014 2013 PRSU Shares granted — — 15,085 Grant date fair value per share $ — $ — $ 50.82 Grant date fair value $ — $ — $ 767 Intrinsic value vested $ 787 $ 659 $ 636 RSU Shares granted 67,745 76,618 4,908 Grant date fair value per share $ 93.52 $ 58.89 $ 67.25 Grant date fair value $ 6,336 $ 4,512 $ 330 Intrinsic value vested $ 2,754 $ 292 $ 412 The table below provides a summary of our PRSU and RSU activity as of and for the year ended December 31, 2015 . Number of Units Grant Date Fair Value Per Share Weighted Average Contractual Life (Years) Aggregate Intrinsic Value Non-vested at December 31, 2014 86,032 $ 57.22 Granted 67,745 $ 93.52 Vested (39,507 ) $ 56.79 Forfeited (621 ) $ 88.76 Non-vested and expected to vest at December 31, 2015 113,649 $ 78.84 1.0 $ 12,817 ESPP We have an ESPP under which U.S. employees may purchase up to $25,000 annually of common stock at 85% of its fair market value at the beginning or the end of a six-month offering period, whichever is lower. There are 750,000 shares of common stock reserved for issuance under the ESPP, which is subject to an annual increase of the least of 300,000 shares, two percent of the shares outstanding or such a number as determined by the Board. To date, there have been no increases. As of December 31, 2015 , there were 188,140 shares available for future issuance. The ESPP is intended to constitute an “employee stock purchase plan” within the meaning of Section 423 of the Internal Revenue Code. As of December 31, 2015 , we had $0.1 million of unamortized stock compensation expense from the ESPP, which will be recognized in the first quarter of 2016 . The fair value of rights to purchase shares under the ESPP is calculated using the Black-Scholes option valuation model. The table below summarizes the number and intrinsic value of ESPP share purchases and the weighted average valuation assumptions for the 2015 , 2014 and 2013 purchase periods. Year ended December 31, 2015 2014 2013 ESPP shares purchased by employees 34,299 47,466 50,944 Intrinsic value of ESPP purchases (in thousands) $ 1,382 $ 476 $ 840 Weighted average assumptions for ESPP valuation: Expected term (in years) 0.5 0.5 0.5 Expected stock price volatility 27.0 % 20.8 % 24.4 % Risk-free interest rate 0.6 % 1.1 % 0.1 % Expected dividend yield — % — % — % |
Fair Value Measurement (Notes)
Fair Value Measurement (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Measurement [Abstract] | |
Fair Value Disclosures [Text Block] | Fair Value Measurement Our investment securities consist of certificates of deposit, corporate bonds, U.S. Treasury securities, commercial paper and federal tax-exempt state and municipal government debt. All investment securities are considered available-for-sale and are "investment grade", carried at fair value and there have been no gains or losses on their disposal. As of December 31, 2015 , we have $8.8 million of investment securities as Level 1 assets, which are certificates of deposit and U.S. Treasury securities with quoted prices in active markets. As of December 31, 2015 , we have $32.4 million of investment securities as Level 2 assets, which are pre-refunded municipal securities, non-pre-refunded municipal securities, commercial paper and corporate bonds and are valued using observable market based inputs such as quoted prices, interest rates and yield curves. There were no transfers between levels in 2015. The following table provides the assets and liabilities carried at fair value measured on a recurring basis. Fair value measurements at December 31, 2015 using Total carrying value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Available for sale securities $ 41,233 $ 8,785 $ 32,448 $ — $ 41,233 $ 8,785 $ 32,448 $ — Fair value measurements at December 31, 2014 using Total carrying value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Available for sale securities $ 70,952 $ 5,884 $ 65,068 $ — $ 70,952 $ 5,884 $ 65,068 $ — As of December 31, 2015, the carrying amounts of assets held for sale, as Level 3 assets, were written-down to their fair value of $4.1 million based upon the expected sales price less costs to sell, as determined by property appraisal reports prepared by an independent real estate appraiser. Our assets held for sale are included as a separate line item in our consolidated balance sheets. The estimated fair value of the assets held for sale was developed using the income approach and is based on critical estimates, judgments and assumptions derived from: analysis of market conditions; building condition; comparable properties; and rental income and expense. As a result of the fair value estimate, during 2015, we incurred a $4.1 million impairment on these assets, included as a separate line item in our consolidated statements of income within income from operations. The following table provides the assets and liabilities carried at fair value measured on a non-recurring basis. Fair value measurements at December 31, 2015 using Total carrying value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Assets held for sale 4,134 — — 4,134 $ 4,134 $ — $ — $ 4,134 |
Investment Securities_
Investment Securities: | 12 Months Ended |
Dec. 31, 2015 | |
Investment Securities [Abstract] | |
Investment Securities [Text Block] | Investment Securities Our investment securities consist of certificates of deposit, corporate bonds, U.S. Treasury securities, commercial paper and federal-tax-exempt state and municipal government debt. All investment securities are considered available-for-sale and are “investment grade,” carried at fair value and there have been no gains or losses on their disposal. Unrealized gains and losses on available-for-sale securities, net of tax, are included in accumulated other comprehensive income in the stockholders' equity section of our consolidated balance sheets. We have no gross unrealized gains or losses on available-for-sale securities at December 31, 2015 or 2014 . The amortized cost of debt securities in this category is adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in investment income in other income on our consolidated statements of income. Balances consist of the following at December 31: 2015 2014 Federal and municipal tax-exempt debt securities $ 4,951 $ 15,013 Corporate bonds 25,400 46,209 U.S. Treasury securities 7,537 — Commercial paper 2,097 3,846 Certificates of deposit 1,248 5,884 $ 41,233 $ 70,952 The scheduled maturities of the debt securities are between 2016 and 2037 and are all callable within one year. Investment income, reflected in other income in our consolidated statements of income, was $0.5 million , $0.4 million and $0.4 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Dec. 31, 2015 | |
Accrued Liabilities [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Accrued Liabilities Accrued liabilities consist of the following at December 31: 2015 2014 Salaries and benefits $ 6,875 $ 6,746 Incentive compensation 8,302 5,405 Value Added Tax accrual 993 398 Restructuring accrual 6,539 1,368 Acquisition-related accrual 1,604 — Outside commissions 1,023 1,146 Other 3,612 2,287 $ 28,948 $ 17,350 |
Income Taxes_
Income Taxes: | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Income Taxes Income from continuing operations before taxes for the years ended December 31, 2015 , 2014 and 2013 is as follows: 2015 2014 2013 United States $ 74,288 $ 33,508 $ 48,964 Foreign (4,589 ) 6,284 3,750 $ 69,699 $ 39,792 $ 52,714 The provision (benefit) for income taxes for the years ended December 31, 2015 , 2014 and 2013 is as follows: 2015 2014 2013 Current: Federal $ 18,601 $ 13,860 $ 14,575 State 745 (1,305 ) 2,145 Foreign 1,426 2,100 (70 ) 20,772 14,655 16,650 Deferred: Federal $ 4,524 $ (2,325 ) $ 164 State (960 ) 988 (996 ) Foreign 378 139 (3,522 ) 3,942 (1,198 ) (4,354 ) $ 24,714 $ 13,457 $ 12,296 Current income taxes payable were reduced from the amounts in the above table by $9.3 million , $5.7 million and $7.0 million in 2015 , 2014 and 2013 , respectively, equal to the direct tax benefit that we receive upon exercise of stock options by employees and directors. The benefit is allocated to stockholders’ equity. We have accrued for tax contingencies for potential tax assessments, and in 2015 we recognized a $1.8 million net decrease, most of which related to various federal and state tax reserves. Reconciliations of the provision for income taxes at the statutory rate to our effective tax rate for the years ended December 31, 2015 , 2014 and 2013 are as follows: 2015 2014 2013 Amount Percent Amount Percent Amount Percent Federal tax at the expected statutory rate $ 24,395 35.0 % $ 13,927 35.0 % $ 18,450 35.0 % State income tax, net of federal effect 2,661 3.9 % 981 2.5 % 1,126 2.1 % Tax credits (5,861 ) (8.4 )% (1,591 ) (4.0 )% (1,974 ) (3.7 )% Tax-exempt interest and dividends — — % (3 ) — % — — % Domestic production activities/other 107 0.1 % 104 0.2 % (403 ) (0.8 )% Foreign income tax 3,412 4.9 % 39 0.1 % (4,903 ) (9.3 )% $ 24,714 35.5 % $ 13,457 33.8 % $ 12,296 23.3 % Tax credits in 2015 , 2014 and 2013 consist principally of research and developmental tax credits. The indirect effect of non-statutory stock options exercised on research and development tax credits and other tax credits were recorded as reductions of the effective tax provision. The components of our deferred income tax provision for the years ended December 31, 2015 , 2014 and 2013 are as follows: 2015 2014 2013 Allowance for doubtful accounts $ — $ 4 $ 4 Inventory reserves 284 (488 ) 341 Accruals (2,977 ) (1,326 ) (470 ) State income taxes 502 (4 ) 552 Acquired future tax deductions 3,139 96 40 Depreciation and amortization 1,080 (780 ) (3,850 ) Net operating loss 195 62 — Tax credits (635 ) 1,238 (971 ) Valuation allowance 2,354 — — $ 3,942 $ (1,198 ) $ (4,354 ) The components of our deferred income tax assets (liabilities) at December 31, 2015 and 2014 are as follows: 2015 2014 Deferred tax asset: State income taxes $ (1,647 ) $ (1,862 ) Foreign 3,881 $ 1,905 Accruals/other 1,432 2,604 Depreciation and amortization (11,735 ) (5,594 ) Acquired future tax deductions 5,778 639 Stock-based compensation 8,864 6,778 Foreign currency translation adjustments 5,360 2,680 Tax credits state 5,887 5,102 Inventory reserves 1,633 1,538 Allowance for doubtful accounts — 151 Valuation allowance (2,354 ) — $ 17,099 13,941 Deferred tax liability: Foreign $ 1,372 $ 1,376 $ 1,372 $ 1,376 Acquired future tax deductions are the tax benefits included in our consolidated income tax returns originating in Bio-Plexus, Inc., an entity purchased in 2002, prior to when we acquired the entity, and those originating from EXC Holding Corp. ("EXC") acquired in 2015. They consist of: (a) the net tax benefit of items expensed for financial statement purposes but capitalized and amortized for tax purposes, (b) the tax benefited portion of Bio-Plexus’s federal net operating loss ("NOL") carry-forward which will be realized in approximately equal amounts over the next 8 years, and (c) the tax benefited portion of EXC's NOL carryforward of $4.9 million is expected to be realized in approximately 6 years, and will expire in 18 years. Under Section 382 of the Internal Revenue Code, certain ownership changes limit the utilization of the NOL carry-forwards, and the amount of federal NOL carry-forwards recorded is the net federal benefit available. A net change in the valuation allowance of $2.4 million was recorded against the deferred tax assets of our Slovakia subsidiary due to a change in realization as a result of the decision to close the manufacturing facility. Foreign currency translation adjustments, and related tax effects, are an element of “other comprehensive income” and are not included in net income. Our estimate of undistributed earnings of our foreign subsidiaries for which no federal or state liability has been recorded cumulatively was $17.8 million at December 31, 2015 and $14.5 million at December 31, 2014 . These undistributed earnings are considered to be indefinitely reinvested. However, if unanticipated distribution of those earnings were to occur in the form of dividends or otherwise, some portion of the distribution would be subject to both foreign withholding taxes and U.S. income taxes. In the event that our position in this regard changes, determining the potential amount of unrecognized deferred federal and state income tax liability and foreign withholding taxes is not practicable because of the complexities associated with its hypothetical calculation. However, unrecognized foreign tax credits would be available to reduce some portion of the federal liability. We are subject to taxation in the United States and various states and foreign jurisdictions. Our United States federal income tax returns for tax years 2012 and forward are subject to examination by the Internal Revenue Service. Our principal state income tax returns for tax years 2013 and forward are subject to examination by the state tax authorities. The total gross amount of unrecognized tax benefits as of December 31, 2015 was $1.8 million that, if recognized, would impact the effective tax rate. The following table summarizes our cumulative gross unrecognized tax benefits for 2015 , 2014 and 2013 : 2015 2014 2013 Beginning balance $ 4,115 $ 5,544 $ 4,236 Increases to prior year tax positions 25 217 391 Increases to current year tax positions 345 661 1,353 Decreases to prior year tax positions (2,399 ) — — Decrease related to settlements (314 ) (2,113 ) — Decrease related to lapse of statute of limitations — (194 ) (436 ) Ending balance $ 1,772 $ 4,115 $ 5,544 |
Major Customer_
Major Customer: | 12 Months Ended |
Dec. 31, 2015 | |
Major Customer Disclosure [Abstract] | |
Product,MajorCustomerandConcentrationofCreditRisk [Text Block] | Products, Major Customers and Concentrations of Credit Risks Our primary product groups are infusion therapy, critical care and oncology. The breakdown by market segment for the years ended December 31, 2015 , 2014 and 2013 are as follows: 2015 2014 2013 Infusion therapy $ 244,746 $ 216,280 $ 221,192 Critical care 54,312 55,074 54,328 Oncology 41,447 36,651 36,857 Other 1,163 1,255 1,339 $ 341,668 $ 309,260 $ 313,716 We sell products worldwide, on credit terms on an unsecured basis, as an OEM supplier, to independent medical supply distributors, and directly to the end customer. The manufacturers and distributors, in turn, sell our products to healthcare providers. For the years ended December 31, 2015 , 2014 and 2013 , we had worldwide sales to one manufacturer, Pfizer, of 36% , 36% and 39% , respectively, of consolidated revenue. As of December 31, 2015 , and 2014 , we had accounts receivable from Pfizer of 40% and 27% , respectively, of consolidated accounts receivable. Domestic sales accounted for 71% , 69% and 71% of total revenue in 2015 , 2014 and 2013 , respectively. International sales, which are determined by the destination of the product shipment, accounted for 29% , 31% and 29% of total revenue in 2015 , 2014 and 2013 , respectively. The table below presents our gross long-lived assets by country: As of December 31, 2015 2014 Mexico $ 53,462 51,554 Slovakia (1) 5,480 16,643 Italy 4,418 4,855 Germany 671 638 Netherlands 49 — Australia 35 — Total foreign $ 64,115 $ 73,690 United States 158,933 151,024 Worldwide total $ 223,048 $ 224,714 ____________________________ ( 1) The decrease in Slovakia long-lived assets included an $8.2 million reclass of land and building to assets held for sale, which were subsequently impaired, see Note 6, Impairment of assets held for sale . |
Operating Leases
Operating Leases | 12 Months Ended |
Dec. 31, 2015 | |
Operating Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | Operating Leases During 2015, we entered into a building lease in San Clemente, United States, which expires in June 2020, and we entered into an office space lease in Johannesburg, South Africa, which expires in March 2018. We also lease a building in Ludenscheid, Germany which expires in December 2016 and have an option to extend the term. We continue to lease office space in Utrecht, Netherlands and Bella Vista, NSW Australia, both which expire in December 2016, and have options to extend the term. We also lease various office equipment, which all expire during 2016 . Our lease expense was $0.4 million in 2015 , $0.2 million in 2014 and $0.2 million in 2013 . Our annual minimum future lease payments are $1.1 million in 2016 , $0.4 million in 2017 , $0.1 million in 2018, $0.1 million in 2019 and $0.1 million in 2020. |
Treasury Stock
Treasury Stock | 12 Months Ended |
Dec. 31, 2015 | |
Treasruy Stock [Abstract] | |
Treasury Stock [Text Block] | Treasury Stock In July 2010, our Board of Directors approved a common stock purchase plan to purchase up to $40.0 million of our common stock. This plan has no expiration date and we have $22.5 million remaining on this purchase plan. We did not purchase any of our common stock in 2015. We purchased $5.6 million of our common stock in 2014. We used the treasury stock to issue shares for stock option exercises, restricted stock grants and employee stock purchase plan stock purchases. In 2015, we withheld 17,299 shares of our common stock from employee vested restricted stock units in consideration for $1.5 million in payments for the employee's share award income tax withholding obligations. In 2015, we also withheld 823 shares of our common stock from option exercises with shares remitted back to us in lieu of $0.1 million in cash payments for the option exercises. In 2014, we withheld 4,232 shares of our common stock from employee vested restricted stock units in consideration for $0.2 million in payments for the employee's share award income tax withholding obligations. In 2014, we also withheld 4,583 shares of our common stock from option exercises with shares remitted back to us in lieu of $0.3 million in cash payments for the option exercises. |
Stockholder Rights Plan
Stockholder Rights Plan | 12 Months Ended |
Dec. 31, 2015 | |
Stockholder Rights Plan [Abstract] | |
StockholderRightsPlan [Text Block] | Stockholder Rights Plan In July 1997, our Board of Directors adopted a Stockholder Rights Plan. This plan expired in 2007 and in July 2007, our Board of Directors adopted an Amended and Restated Rights Agreement. We distributed a Preferred Share Purchase Right (a “Right”) for each share of our Common Stock outstanding. The Rights generally will not be exercisable until a person or group has acquired 15% or more of our Common Stock in a transaction that is not approved in advance by the Board of Directors or ten days after the commencement of a tender offer which could result in a person or group owning 15% or more of our Common Stock. On exercise, each Right entitles the holder to buy one share of Common Stock at an exercise price of $225 . In the event a third party or group were to acquire 15% or more of our outstanding Common Stock without the prior approval of the Board of Directors, each Right will entitle the holder, other than the acquirer, to buy Common Stock with a market value of twice the exercise price, for the Right’s then current exercise price. In addition, if we were to be acquired in a merger after such an acquisition, shareholders with unexercised Rights could purchase common stock of the acquirer with a value of twice the exercise price of the Rights. Our Board of Directors may redeem the Rights for a nominal amount at any time prior to the tenth business day following an event that causes the Rights to become exercisable. The Rights will expire unless previously redeemed or exercised on August 8, 2017. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies From time to time, we are involved in various other legal proceedings, most of which are routine litigation, in the normal course of business. Our management does not believe that the resolution of the other legal proceedings that we are involved with will have a material adverse impact on our financial position or results of operations. In the normal course of business, we have agreed to indemnify our officers and directors to the maximum extent permitted under Delaware law and to indemnify customers as to certain intellectual property matters related to sales of our products. There is no maximum limit on the indemnification that may be required under these agreements. We have never incurred, nor do we expect to incur, any liability for indemnification. |
Quarterly Financial Data
Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2014 | |
Quarterly Financial Data - Unaudited [Abstract] | |
Quarterly Financial Information [Text Block] | Quarterly Financial Data - Unaudited Quarter Ended Mar. 31 Jun. 30 Sept. 30 Dec. 31 2015 Total revenue $ 81,484 $ 83,781 $ 86,016 $ 90,387 Gross profit $ 42,514 $ 43,761 $ 46,265 $ 48,257 Net income $ 9,686 $ 13,570 $ 16,266 $ 5,463 Net income per share: Basic $ 0.62 $ 0.86 $ 1.02 $ 0.34 Diluted $ 0.60 $ 0.83 $ 0.98 $ 0.33 2014 Total revenue $ 73,230 $ 78,677 $ 77,457 $ 79,896 Gross profit $ 36,027 $ 37,542 $ 38,147 $ 39,685 Net income $ 6,657 $ 5,878 $ 6,428 $ 7,372 Net income per share: Basic $ 0.44 $ 0.39 $ 0.42 $ 0.48 Diluted $ 0.43 $ 0.38 $ 0.42 $ 0.46 |
General and Summary of Signif24
General and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Summary of Significant Accounting Policies [Abstract] | |
Business Description and Basis of Presentation [Text Block] | Description of Business/Basis of Presentation ICU Medical, Inc., a Delaware corporation, operates in one business segment engaged in the development, manufacturing and sale of innovative medical technologies used in infusion therapy, critical care and oncology applications. Our devices are sold directly or to distributors and medical product manufacturers throughout the United States and internationally. The manufacturing for all product groups occurs in Salt Lake City, Slovakia and Mexico. Assets and operating expenses are not allocated to individual product groups. In 2015, we made the decision to begin shutting down our manufacturing facility in Slovakia and to move those products to our facility in Mexico. We expect to finish that process in the second half of 2016. All subsidiaries are wholly owned and are included in the consolidated financial statements. All intercompany balances and transactions have been eliminated. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash equivalents are investments with an original maturity of three months or less. |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts Receivable Accounts receivable are stated at net realizable value. An allowance is provided for estimated collection losses based on an assessment of various factors. We consider prior payment trends, the age of the accounts receivable balances, financial status and other factors to estimate the cash which ultimately will be received. Such amounts cannot be known with certainty at the financial statement date. We regularly review individual past due balances for collectability. |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or market with cost determined using the first-in, first-out method. Inventory costs include material, labor and overhead related to the manufacturing of medical devices. Inventories consist of the following at December 31: 2015 2014 Raw material $ 24,681 $ 23,006 Work in process 4,282 3,546 Finished goods 14,669 10,381 Total $ 43,632 $ 36,933 |
Property, Plant and Equipment Disclosure [Text Block] | Property and Equipment Property and equipment consist of the following at December 31: 2015 2014 Machinery and equipment $ 96,909 $ 90,744 Land, building and building improvements 56,716 71,415 Molds 36,436 33,166 Computer equipment and software 23,346 23,228 Furniture and fixtures 3,638 3,571 Construction in progress 6,003 2,590 Total property and equipment, cost 223,048 224,714 Accumulated depreciation (148,728 ) (138,623 ) Net property and equipment $ 74,320 $ 86,091 All property and equipment are stated at cost. We use the straight-line method for depreciating property and equipment over their estimated useful lives. Estimated useful lives are: Buildings 15 - 30 years Building improvements 15 years Machinery and equipment 2 - 10 years Furniture, fixtures and molds 2 - 5 years Computer equipment and software 3 - 5 years We capitalize expenditures that materially increase the life of the related assets; maintenance and repairs are expensed as incurred. The costs and related accumulated depreciation applicable to property and equipment sold or retired are removed from the accounts and any gain or loss is reflected in the statements of income at the time of disposal. Depreciation expense was $15.9 million , $17.0 million and $17.0 million in the years ended December 31, 2015 , 2014 and 2013 , respectively. The cost of property and equipment are presented net of government incentive reimbursements we received from the Slovakian government for building a manufacturing plant in their country. Government incentives recorded in property and equipment were $2.2 million at December 31, 2015 and $3.3 million December 31, 2014 . |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill We test goodwill for impairment on an annual basis in the month of November. If the carrying amount of goodwill exceeds the implied estimated fair value, an impairment charge to current operations is recorded to reduce the carrying value to the implied estimated fair value. There were no accumulated impairment losses as of December 31, 2015 and 2014 . During 2015, we acquired EXC Holding Corp. ("EXC"), as a result of the acquisition $5.0 million was added as acquired goodwill, see Note 3, Acquisitions and Strategic Expenses. |
Intangible Assets Disclosure [Text Block] | Intangible Assets Intangible assets, carried at cost less accumulated amortization and amortized on a straight-lined basis, were as follows: Weighted Average December 31, 2015 Amortization Life in Years Cost Accumulated Amortization Net Patents 10 $ 13,308 $ 8,302 $ 5,006 MCDA contract * 10 8,571 8,571 — Customer contracts 9 5,319 4,133 1,186 Non-contractual customer relationships 15 7,080 118 6,962 Trademarks 4 425 425 — Trade name 15 7,310 122 7,188 Developed technology 10 3,686 92 3,594 Total $ 45,699 $ 21,763 $ 23,936 Weighted Average December 31, 2014 Amortization Life in Years Cost Accumulated Amortization Net Patents 9 $ 12,357 $ 7,315 $ 5,042 MCDA contract * 10 8,571 8,285 286 Customer contracts 9 5,319 3,584 1,735 Trademarks 4 425 425 — Total $ 26,672 $ 19,609 $ 7,063 *MCDA contract: Manufacturing, Commercialization and Development Agreement with Hospira, Inc., dated May 1, 2005 (the "MCDA”). Amortization expense in 2015 , 2014 and 2013 was $2.2 million , $2.4 million and $2.5 million , respectively. Estimated annual amortization for each of the next five years is approximately $2.7 million for 2016 , $2.5 million for 2017 , $2.4 million for 2018 , $2.0 million for 2019 and $1.9 million for 2020 . |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets We periodically evaluate the recoverability of long-lived assets whenever events and changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. When indicators of impairment are present, the carrying values of the assets are evaluated in relation to the operating performance and future undiscounted cash flows of the underlying business. The net book value of the underlying asset is adjusted to fair value if the sum of the expected discounted cash flows is less than book value. Fair values are based on estimates of market prices and assumptions concerning the amount and timing of estimated future cash flows and discount rates, reflecting varying degrees of perceived risk. |
Investment, Policy [Policy Text Block] | Investment Securities Our investment securities, which are carried at fair market value and are considered available-for-sale, consist principally of certificates of deposits, corporate bonds, U.S. Treasury securities, commercial paper and federal tax-exempt state and municipal government debt. Available-for-sale securities are recorded at fair value, and unrealized holding gains and losses are recorded, net of tax, as a component of accumulated other comprehensive income. Unrealized losses on available-for-sale securities are charged against net earnings when a decline in fair value is determined to be other than temporary. Our management reviews several factors to determine whether a loss is other than temporary, such as the length and extent of the fair value decline, the financial condition and near term prospects of the issuer, and for equity investments, our intent and ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. For debt securities, management also evaluates whether we have the intent to sell or will likely be required to sell before its anticipated recovery. Realized gains and losses are accounted for on the specific identification method. |
Income Tax, Policy [Policy Text Block] | Income Taxes Deferred taxes are determined based on the differences between the financial statements and the tax bases using rates as enacted in the laws. A valuation allowance is established if it is “more likely than not” that all or a portion of the deferred tax assets will not be realized. We recognize interest and penalties related to unrecognized tax benefits in the tax provision. We recognize liabilities for uncertain tax positions when it is more likely than not that a tax position will not be sustained upon examination and settlement with various taxing authorities. Liabilities for uncertain tax positions are measured based upon the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. We have not recorded any material interest or penalties during any of the years presented. The deduction we receive from indirect tax benefits from the exercise of stock options, such as those recognized for research and development credits and domestic production activities deductions, is recorded as a reduction to the tax provision. The direct tax benefits of share based compensation are recorded through additional-paid-in capital. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency We have operations in Europe where the functional currency is the Euro and operations in Australia where the functional currency is the Australian dollar. Assets and liabilities are translated to U.S. dollars at the exchange rate in effect at the balance sheet date and revenues and expenses are translated at the average monthly exchange rates during the year. Translation adjustments are recorded as a component of accumulated other comprehensive income, a separate component of stockholders' equity on our consolidated balance sheets and the effect of exchange rate changes on cash and cash equivalents are reflected on our consolidated statements of cash flows. Gains and losses for transactions denominated in a currency other than the functional currency of the entity are included in our statements of operations. Foreign currency transaction gains and losses were $0.2 million in 2015 , $0.1 million in 2014 and less than $0.1 million in 2013 . |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Most of our product sales are free on board shipping point and ownership of the product transfers to the customer on shipment. We record sales and related costs when ownership of the product transfers to the customer, persuasive evidence of an arrangement exists, collectability is reasonably assured and the sales price is determinable. Our customers are distributors, medical product manufacturers and end-users. Our only post-sale obligations are warranty and certain rebates. We warrant products against defects and have a policy permitting the return of defective products. We reserve for warranty and returns based on historical experience. We accrue rebates based on agreements and on historical experience as a reduction in revenue at the time of sale. Other revenue consists of license, royalty and revenue sharing payments. Payments expected to be received are estimated and recorded in the period earned, and adjusted to actual amounts when reports are received from payers; if there is insufficient data to make such estimates, payments are not recorded until reported by the payers. |
Shipping and Handling Cost, Policy [Policy Text Block] | Shipping Costs Costs to ship finished goods to our customers are included in cost of goods sold on the consolidated statements of income. |
Advertising Costs, Policy [Policy Text Block] | Advertising Expenses Advertising expenses are expensed as incurred and reflected in selling, general and administrative expenses in our consolidated statements of income and were $0.2 million in 2015 , $0.1 million in 2014 and $0.3 million in 2013 . |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Post-retirement and Post-employment Benefits We do not provide retirement or post-employment benefits to employees other than our Section 401(k) retirement plan ("plan") for employees. Our contributions to the plan were approximately $1.3 million in 2015 , $1.3 million in 2014 and $1.1 million in 2013 . |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are expensed as incurred. |
Earnings Per Share, Policy [Policy Text Block] | Net Income Per Share Net income per share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted net income per share is computed by dividing net income by the weighted average number of common shares outstanding plus dilutive securities. Dilutive securities are outstanding common stock options (excluding stock options with an exercise price in excess of the average market value for the period), less the number of shares that could have been purchased with the proceeds from the exercise of the options, using the treasury stock method. Options that are anti-dilutive because their exercise price exceeded the average market price of the common stock for the period approximated 16,000 shares in 2014 and 10,000 shares in 2013 . There were no anti-dilutive options in 2015. The following table presents the calculation of net earnings per common share (“EPS”) — basic and diluted. Year ended December 31, (in thousands, except per share data) 2015 2014 2013 Net income $ 44,985 $ 26,335 $ 40,418 Weighted average number of common shares outstanding (basic) 15,848 15,282 14,688 Dilutive securities 648 365 586 Weighted average common and common equivalent shares outstanding (diluted) 16,496 15,647 15,274 EPS - basic $ 2.84 $ 1.72 $ 2.75 EPS - diluted $ 2.73 $ 1.68 $ 2.65 |
Use of Estimates, Policy [Policy Text Block] | Accounting Estimates Preparing financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | New Accounting Pronouncements In November 2015, the FASB issued ASU No. 2015-17 Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. ASU 2015-17 requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments are effective prospectively or retrospectively for annual periods beginning after December 15, 2016 and interim periods within those annual periods. We early adopted ASU 2015-17 retrospectively as of the year ended December 31, 2015. The adoption of this standard resulted in the reclassification of $4.7 million from current deferred income tax assets in the consolidated balance sheet as of December 31, 2014 resulting in adjusted total noncurrent deferred income tax assets $13.9 million . Adoption of this standard did not impact results of operations, retained earnings, or cash flows in the current or previous annual reporting periods. In September 2015, the Financial Accounting Standards Board ("FASB") issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. ASU 2015-16 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, including the cumulative effect of the change in provisional amount as if the accounting had been completed at the acquisition date. The adjustments related to previous reporting periods since the acquisition date must be disclosed by income statement line item either on the face of the income statement or in the notes. The amendments are effective prospectively for the fiscal years, and interim reporting periods within those years, beginning on or after December 15, 2015 (early adoption is permitted only for financial statements that have not been issued). We do not anticipate a material impact on our consolidated financial statements from adoption of this ASU. In July 2015, the FASB issued ASU No. 2015-11 Inventory (Topic 330): Simplifying the Measurement of Inventory. ASU 2015-11 changes the measurement of inventory from lower of cost or market to lower of cost and net realizable value. The amendments are effective prospectively for the fiscal years, and interim reporting periods within those years, beginning on or after December 15, 2016. We do not anticipate a material impact on our consolidated financial statements from adoption of this ASU. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 removes inconsistencies and weaknesses in revenue requirements, provides a more robust framework for addressing revenue issues, improves comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets, provides more useful information to users of financial statements through improved disclosure requirements and simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer. This guidance requires that an entity depict the consideration by applying a five-step analysis in determining when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. On April 1, 2015, the FASB voted for a one-year deferral of the effective date of the new revenue recognition standard, ASU No. 2014-09. On July 15, 2015, the FASB affirmed these changes, which requires public entities to apply the amendments in ASU 2014-09 for annual reporting beginning after December 15, 2017. Early adoption is permitted beginning after December 31, 2016, the original effective date in ASU 2014-09. We are currently evaluating the impact of this ASU on the consolidated financial statements and related disclosures. In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period. ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The amendments in ASU 2014-12 are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in ASU 2014-12 either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. This guidance will become effective for us at the beginning of the first quarter of 2016. We do not anticipate a material impact on our consolidated financial statements from adoption of this ASU. |
General and Summary of Signif25
General and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Summary of Significant Accounting Policies [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventories consist of the following at December 31: 2015 2014 Raw material $ 24,681 $ 23,006 Work in process 4,282 3,546 Finished goods 14,669 10,381 Total $ 43,632 $ 36,933 |
Property, Plant and Equipment [Table Text Block] | Property and equipment consist of the following at December 31: 2015 2014 Machinery and equipment $ 96,909 $ 90,744 Land, building and building improvements 56,716 71,415 Molds 36,436 33,166 Computer equipment and software 23,346 23,228 Furniture and fixtures 3,638 3,571 Construction in progress 6,003 2,590 Total property and equipment, cost 223,048 224,714 Accumulated depreciation (148,728 ) (138,623 ) Net property and equipment $ 74,320 $ 86,091 All property and equipment are stated at cost. We use the straight-line method for depreciating property and equipment over their estimated useful lives. Estimated useful lives are: Buildings 15 - 30 years Building improvements 15 years Machinery and equipment 2 - 10 years Furniture, fixtures and molds 2 - 5 years Computer equipment and software 3 - 5 years |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Intangible assets, carried at cost less accumulated amortization and amortized on a straight-lined basis, were as follows: Weighted Average December 31, 2015 Amortization Life in Years Cost Accumulated Amortization Net Patents 10 $ 13,308 $ 8,302 $ 5,006 MCDA contract * 10 8,571 8,571 — Customer contracts 9 5,319 4,133 1,186 Non-contractual customer relationships 15 7,080 118 6,962 Trademarks 4 425 425 — Trade name 15 7,310 122 7,188 Developed technology 10 3,686 92 3,594 Total $ 45,699 $ 21,763 $ 23,936 Weighted Average December 31, 2014 Amortization Life in Years Cost Accumulated Amortization Net Patents 9 $ 12,357 $ 7,315 $ 5,042 MCDA contract * 10 8,571 8,285 286 Customer contracts 9 5,319 3,584 1,735 Trademarks 4 425 425 — Total $ 26,672 $ 19,609 $ 7,063 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table presents the calculation of net earnings per common share (“EPS”) — basic and diluted. Year ended December 31, (in thousands, except per share data) 2015 2014 2013 Net income $ 44,985 $ 26,335 $ 40,418 Weighted average number of common shares outstanding (basic) 15,848 15,282 14,688 Dilutive securities 648 365 586 Weighted average common and common equivalent shares outstanding (diluted) 16,496 15,647 15,274 EPS - basic $ 2.84 $ 1.72 $ 2.75 EPS - diluted $ 2.73 $ 1.68 $ 2.65 |
Restructuring Charges Schedule
Restructuring Charges Schedule of Restructuring and Related Costs (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Restructuring Charges [Abstract] | |
Restructuring and Related Costs [Table Text Block] | The following table summarizes the activity for the restructuring-related charges discussed above and related accrual (in thousands): Accrued Balance December 31, 2013 Charges incurred Payments Accrued Balance December 31, 2014 Charges incurred Payments Accrued Balance December 31, 2015 Severance pay and benefits $ — $ 3,530 $ (2,172 ) $ 1,358 $ 2,582 $ (1,435 ) $ 2,505 Government incentive repayment — — — — 1,884 — 1,884 Employment agreement buyout — — — — 1,905 (60 ) 1,845 Other corporate restructuring — 11 — 11 305 (11 ) 305 $ — 3,541 (2,172 ) $ 1,369 6,676 (1,506 ) $ 6,539 |
Acquisitions and Strategic Tr27
Acquisitions and Strategic Transaction Expenses Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the final purchase price and the allocation of the purchase price related to the assets and liabilities retained (in thousands): Fair Value of Consideration: Cash, net of cash acquired $ 56,786 Allocation of the Purchase Price: Net assets sold to Excelsior Medical, LLC $ 28,970 Prepaid expenses and other current assets 254 Deferred tax asset/liabilities 4,426 Property and equipment 3,982 Identifiable intangible assets (1) 18,076 Goodwill 4,985 Assumed liabilities (3,907 ) Net Assets Acquired $ 56,786 ______________________________ (1) Identifiable intangible assets include $7.1 million of non-contractual customer relationships, $3.7 million of developed technology and $7.3 million of trade name. The weighted-average amortization period for the total identifiable intangible assets is approximately fourteen years. The weighted-average amortization period for customer relationships and trade name is fifteen years and the weighted-average amortization period for the developed technology is ten years. |
Share Based Award (Tables)
Share Based Award (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of stock compensation and related tax benefits [Table Text Block] | The table below summarizes compensation costs and related tax benefits for the years ended December 31, 2015 , 2014 and 2013 . Year ended December 31, (In thousands) 2015 2014 2013 Stock compensation expense $ 12,827 $ 9,592 $ 5,434 Tax benefit from stock-based compensation cost $ 4,922 $ 3,567 $ 2,052 Indirect tax benefit $ 1,997 $ 209 $ 866 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The table below summarizes the total time-based stock options granted, total valuation and the weighted average assumptions for the years ended December 31, 2015 , 2014 and 2013 . Year ended December 31, 2015 2014 2013 Number of time-based options granted 22,816 492,935 244,440 Grant date fair value of options granted (in thousands) $ 590 $ 7,311 $ 3,934 Weighted average assumptions for stock option valuation: Expected term (years) 5.6 4.7 4.6 Expected stock price volatility 25.9 % 26.7 % 29.2 % Risk-free interest rate 1.7 % 1.4 % 0.8 % Expected dividend yield — % — % — % Weighted average grant price per option $ 93.30 $ 58.92 $ 62.12 Weighted average grant date fair value per option $ 25.86 $ 14.83 $ 16.09 |
Schedule of Share-based compensation, performance stock option activity [Table Text Block] | The table below summarizes the performance stock options granted, total valuation and the weighted average assumptions for the years ended December 31, 2015 and 2014. Year ended December 31, 2015 2014 Number of performance options granted 244,825 699,625 Grant date fair value of options granted (in thousands) $ 6,087 $ 13,344 Weighted average assumptions for stock option valuation: Expected term (years) 3.0 4.0 Expected stock price volatility 30.86 % 31.7 % Risk-free interest rate 2.3 % 2.9 % Expected dividend yield — % — % Weighted average grant price per option $ 91.88 $ 58.90 Weighted average grant date fair value per option $ 24.86 $ 19.07 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | A summary of our stock option activity as of and for the year ended December 31, 2015 is as follows: Shares Weighted Average Exercise Price Per Share Weighted Average Contractual Life (Years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2014 2,556,936 $ 49.46 Granted 267,641 $ 92.00 Exercised (435,146 ) $ 34.77 Forfeited or expired (10,024 ) $ 58.20 Outstanding at December 31, 2015 2,379,407 $ 56.90 7.1 $ 132,963 Exercisable at December 31, 2015 1,287,271 $ 48.45 5.9 $ 82,809 Vested and expected to vest, December 31, 2015 2,379,407 $ 56.90 7.1 $ 132,963 |
Exercised Options Data [Table Text Block] | Year ended December 31, (In thousands) 2015 2014 2013 Intrinsic value of options exercised $ 28,071 $ 18,802 $ 21,847 Cash received from exercise of stock options $ 15,042 $ 16,998 $ 18,004 Tax benefit from stock option exercises $ 9,330 $ 5,700 $ 6,966 |
Schedule of restricted stock activity [Table Text Block] | The table below summarizes our restricted stock award activity for the years ended December 31, 2015 , 2014 and 2013 . Year ended December 31, (In thousands except shares and per share amounts) 2015 2014 2013 PRSU Shares granted — — 15,085 Grant date fair value per share $ — $ — $ 50.82 Grant date fair value $ — $ — $ 767 Intrinsic value vested $ 787 $ 659 $ 636 RSU Shares granted 67,745 76,618 4,908 Grant date fair value per share $ 93.52 $ 58.89 $ 67.25 Grant date fair value $ 6,336 $ 4,512 $ 330 Intrinsic value vested $ 2,754 $ 292 $ 412 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | The table below provides a summary of our PRSU and RSU activity as of and for the year ended December 31, 2015 . Number of Units Grant Date Fair Value Per Share Weighted Average Contractual Life (Years) Aggregate Intrinsic Value Non-vested at December 31, 2014 86,032 $ 57.22 Granted 67,745 $ 93.52 Vested (39,507 ) $ 56.79 Forfeited (621 ) $ 88.76 Non-vested and expected to vest at December 31, 2015 113,649 $ 78.84 1.0 $ 12,817 |
Schedule of employee stock purchase plan (ESPP) [Table Text Block] | The table below summarizes the number and intrinsic value of ESPP share purchases and the weighted average valuation assumptions for the 2015 , 2014 and 2013 purchase periods. Year ended December 31, 2015 2014 2013 ESPP shares purchased by employees 34,299 47,466 50,944 Intrinsic value of ESPP purchases (in thousands) $ 1,382 $ 476 $ 840 Weighted average assumptions for ESPP valuation: Expected term (in years) 0.5 0.5 0.5 Expected stock price volatility 27.0 % 20.8 % 24.4 % Risk-free interest rate 0.6 % 1.1 % 0.1 % Expected dividend yield — % — % — % |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | The following table provides the assets and liabilities carried at fair value measured on a recurring basis. Fair value measurements at December 31, 2015 using Total carrying value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Available for sale securities $ 41,233 $ 8,785 $ 32,448 $ — $ 41,233 $ 8,785 $ 32,448 $ — Fair value measurements at December 31, 2014 using Total carrying value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Available for sale securities $ 70,952 $ 5,884 $ 65,068 $ — $ 70,952 $ 5,884 $ 65,068 $ — |
Fair Value Measurements, Nonrecurring [Table Text Block] | The following table provides the assets and liabilities carried at fair value measured on a non-recurring basis. Fair value measurements at December 31, 2015 using Total carrying value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Assets held for sale 4,134 — — 4,134 $ 4,134 $ — $ — $ 4,134 |
Investment Securities_ (Tables)
Investment Securities: (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investment Securities [Abstract] | |
Available-for-sale Securities [Table Text Block] | Balances consist of the following at December 31: 2015 2014 Federal and municipal tax-exempt debt securities $ 4,951 $ 15,013 Corporate bonds 25,400 46,209 U.S. Treasury securities 7,537 — Commercial paper 2,097 3,846 Certificates of deposit 1,248 5,884 $ 41,233 $ 70,952 |
Accrued Liabilities (Tables)
Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accrued Liabilities [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | Accrued liabilities consist of the following at December 31: 2015 2014 Salaries and benefits $ 6,875 $ 6,746 Incentive compensation 8,302 5,405 Value Added Tax accrual 993 398 Restructuring accrual 6,539 1,368 Acquisition-related accrual 1,604 — Outside commissions 1,023 1,146 Other 3,612 2,287 $ 28,948 $ 17,350 |
Income Taxes_ Income tax disclo
Income Taxes: Income tax disclosure (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Income from continuing operations before taxes for the years ended December 31, 2015 , 2014 and 2013 is as follows: 2015 2014 2013 United States $ 74,288 $ 33,508 $ 48,964 Foreign (4,589 ) 6,284 3,750 $ 69,699 $ 39,792 $ 52,714 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The provision (benefit) for income taxes for the years ended December 31, 2015 , 2014 and 2013 is as follows: 2015 2014 2013 Current: Federal $ 18,601 $ 13,860 $ 14,575 State 745 (1,305 ) 2,145 Foreign 1,426 2,100 (70 ) 20,772 14,655 16,650 Deferred: Federal $ 4,524 $ (2,325 ) $ 164 State (960 ) 988 (996 ) Foreign 378 139 (3,522 ) 3,942 (1,198 ) (4,354 ) $ 24,714 $ 13,457 $ 12,296 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Reconciliations of the provision for income taxes at the statutory rate to our effective tax rate for the years ended December 31, 2015 , 2014 and 2013 are as follows: 2015 2014 2013 Amount Percent Amount Percent Amount Percent Federal tax at the expected statutory rate $ 24,395 35.0 % $ 13,927 35.0 % $ 18,450 35.0 % State income tax, net of federal effect 2,661 3.9 % 981 2.5 % 1,126 2.1 % Tax credits (5,861 ) (8.4 )% (1,591 ) (4.0 )% (1,974 ) (3.7 )% Tax-exempt interest and dividends — — % (3 ) — % — — % Domestic production activities/other 107 0.1 % 104 0.2 % (403 ) (0.8 )% Foreign income tax 3,412 4.9 % 39 0.1 % (4,903 ) (9.3 )% $ 24,714 35.5 % $ 13,457 33.8 % $ 12,296 23.3 % |
Deferred tax provision table text block [Table Text Block] | The components of our deferred income tax provision for the years ended December 31, 2015 , 2014 and 2013 are as follows: 2015 2014 2013 Allowance for doubtful accounts $ — $ 4 $ 4 Inventory reserves 284 (488 ) 341 Accruals (2,977 ) (1,326 ) (470 ) State income taxes 502 (4 ) 552 Acquired future tax deductions 3,139 96 40 Depreciation and amortization 1,080 (780 ) (3,850 ) Net operating loss 195 62 — Tax credits (635 ) 1,238 (971 ) Valuation allowance 2,354 — — $ 3,942 $ (1,198 ) $ (4,354 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The components of our deferred income tax assets (liabilities) at December 31, 2015 and 2014 are as follows: 2015 2014 Deferred tax asset: State income taxes $ (1,647 ) $ (1,862 ) Foreign 3,881 $ 1,905 Accruals/other 1,432 2,604 Depreciation and amortization (11,735 ) (5,594 ) Acquired future tax deductions 5,778 639 Stock-based compensation 8,864 6,778 Foreign currency translation adjustments 5,360 2,680 Tax credits state 5,887 5,102 Inventory reserves 1,633 1,538 Allowance for doubtful accounts — 151 Valuation allowance (2,354 ) — $ 17,099 13,941 Deferred tax liability: Foreign $ 1,372 $ 1,376 $ 1,372 $ 1,376 |
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block] | The following table summarizes our cumulative gross unrecognized tax benefits for 2015 , 2014 and 2013 : 2015 2014 2013 Beginning balance $ 4,115 $ 5,544 $ 4,236 Increases to prior year tax positions 25 217 391 Increases to current year tax positions 345 661 1,353 Decreases to prior year tax positions (2,399 ) — — Decrease related to settlements (314 ) (2,113 ) — Decrease related to lapse of statute of limitations — (194 ) (436 ) Ending balance $ 1,772 $ 4,115 $ 5,544 |
Products, Major Customer, Conce
Products, Major Customer, Concentration of Credit Risk Market Segment Breakdown (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Market Segment Breakdown [Abstract] | |
Revenue from External Customers by Products and Services [Table Text Block] | The breakdown by market segment for the years ended December 31, 2015 , 2014 and 2013 are as follows: 2015 2014 2013 Infusion therapy $ 244,746 $ 216,280 $ 221,192 Critical care 54,312 55,074 54,328 Oncology 41,447 36,651 36,857 Other 1,163 1,255 1,339 $ 341,668 $ 309,260 $ 313,716 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | The table below presents our gross long-lived assets by country: As of December 31, 2015 2014 Mexico $ 53,462 51,554 Slovakia (1) 5,480 16,643 Italy 4,418 4,855 Germany 671 638 Netherlands 49 — Australia 35 — Total foreign $ 64,115 $ 73,690 United States 158,933 151,024 Worldwide total $ 223,048 $ 224,714 ____________________________ ( 1) The decrease in Slovakia long-lived assets included an $8.2 million reclass of land and building to assets held for sale, which were subsequently impaired, see Note 6, Impairment of assets held for sale . |
Quarterly Financial Data (Table
Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Data - Unaudited [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | Quarter Ended Mar. 31 Jun. 30 Sept. 30 Dec. 31 2015 Total revenue $ 81,484 $ 83,781 $ 86,016 $ 90,387 Gross profit $ 42,514 $ 43,761 $ 46,265 $ 48,257 Net income $ 9,686 $ 13,570 $ 16,266 $ 5,463 Net income per share: Basic $ 0.62 $ 0.86 $ 1.02 $ 0.34 Diluted $ 0.60 $ 0.83 $ 0.98 $ 0.33 2014 Total revenue $ 73,230 $ 78,677 $ 77,457 $ 79,896 Gross profit $ 36,027 $ 37,542 $ 38,147 $ 39,685 Net income $ 6,657 $ 5,878 $ 6,428 $ 7,372 Net income per share: Basic $ 0.44 $ 0.39 $ 0.42 $ 0.48 Diluted $ 0.43 $ 0.38 $ 0.42 $ 0.46 |
General and Summary of Signif35
General and Summary of Significant Accounting Policies Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Summary of Significant Accounting Policies [Abstract] | ||
Raw Materials | $ 24,681 | $ 23,006 |
Work in Process | 4,282 | 3,546 |
Finished Goods | 14,669 | 10,381 |
Total | $ 43,632 | $ 36,933 |
General and Summary of Signif36
General and Summary of Significant Accounting Policies Property and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | |||
Total property and equipment, cost | $ 223,048 | $ 224,714 | |
Accumulated Depreciation | 148,728 | 138,623 | |
Net property and equipment | 74,320 | 86,091 | |
Depreciation | 15,900 | 17,000 | $ 17,000 |
Government incentive reimbursement | 2,200 | 3,300 | |
Machinery and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment, cost | 96,909 | 90,744 | |
Land, Buildings and Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment, cost | 56,716 | 71,415 | |
Molds [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment, cost | 36,436 | 33,166 | |
Furniture and Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment, cost | 3,638 | 3,571 | |
Computer Equipment and Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment, cost | 23,346 | 23,228 | |
Construction in Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment, cost | $ 6,003 | $ 2,590 | |
Minimum [Member] | Building [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 15 | ||
Minimum [Member] | Building Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 15 | ||
Minimum [Member] | Machinery and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 2 | ||
Minimum [Member] | Computer Equipment and Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 3 | ||
Minimum [Member] | Furniture, fixtures and molds [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 2 | ||
Maximum [Member] | Building [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 30 | ||
Maximum [Member] | Building Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 15 | ||
Maximum [Member] | Machinery and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 10 | ||
Maximum [Member] | Computer Equipment and Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 5 | ||
Maximum [Member] | Furniture, fixtures and molds [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 5 |
General and Summary of Signif37
General and Summary of Significant Accounting Policies Goodwill (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ||
Goodwill, balance | $ 1,478,000 | $ 1,478,000 |
Goodwill, Acquired During Period | 4,985,000 | 0 |
Goodwill, Impairment Loss | 0 | 0 |
Goodwill, balance | $ 6,463,000 | $ 1,478,000 |
General and Summary of Signif38
General and Summary of Significant Accounting Policies Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||||||||
Cost | $ 45,699 | $ 26,672 | ||||||
Accumulated Amortization | 21,763 | 19,609 | ||||||
Net | 23,936 | 7,063 | ||||||
Amortization [Abstract] | ||||||||
Amortization of Intangible Assets | $ 2,200 | $ 2,400 | $ 2,500 | |||||
Patents [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Weighted-Average Amortization Life in Years | 10 years | 9 years | ||||||
Cost | $ 13,308 | $ 12,357 | ||||||
Accumulated Amortization | 8,302 | 7,315 | ||||||
Net | $ 5,006 | $ 5,042 | ||||||
MCDA contract [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Weighted-Average Amortization Life in Years | 10 years | 10 years | ||||||
Cost | $ 8,571 | $ 8,571 | ||||||
Accumulated Amortization | 8,571 | 8,285 | ||||||
Net | $ 0 | $ 286 | ||||||
Customer Contracts [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Weighted-Average Amortization Life in Years | 9 years | 9 years | ||||||
Cost | $ 5,319 | $ 5,319 | ||||||
Accumulated Amortization | 4,133 | 3,584 | ||||||
Net | $ 1,186 | $ 1,735 | ||||||
Customer-Related Intangible Assets [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Weighted-Average Amortization Life in Years | 15 years | |||||||
Cost | $ 7,080 | |||||||
Accumulated Amortization | 118 | |||||||
Net | $ 6,962 | |||||||
Trademarks [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Weighted-Average Amortization Life in Years | 4 years | 4 years | ||||||
Cost | $ 425 | $ 425 | ||||||
Accumulated Amortization | 425 | 425 | ||||||
Net | $ 0 | $ 0 | ||||||
Trade Names [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Weighted-Average Amortization Life in Years | 15 years | |||||||
Cost | $ 7,310 | |||||||
Accumulated Amortization | 122 | |||||||
Net | $ 7,188 | |||||||
Developed Technology Rights [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Weighted-Average Amortization Life in Years | 10 years | |||||||
Cost | $ 3,686 | |||||||
Accumulated Amortization | 92 | |||||||
Net | $ 3,594 | |||||||
Scenario, Forecast [Member] | ||||||||
Amortization [Abstract] | ||||||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 2,700 | |||||||
Future Amortization Expense, Year Two | $ 2,500 | |||||||
Future Amortization Expense, Year Three | $ 2,400 | |||||||
Future Amortization Expense, Year Four | $ 2,000 | |||||||
Future Amortization Expense, Year Five | $ 1,900 |
General and Summary of Signif39
General and Summary of Significant Accounting Policies Foreign Currency (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Foreign Currency [Abstract] | |||
Foreign Currency Transaction Gain (Loss), Realized | $ 0.2 | $ 0.1 | $ 0.1 |
General and Summary of Signif40
General and Summary of Significant Accounting Policies Advertising Expenses (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accounting Policies [Abstract] | |||
Advertising Expense | $ 0.2 | $ 0.1 | $ 0.3 |
General and Summary of Signif41
General and Summary of Significant Accounting Policies Post-retirement and Post-employment Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | |||
Pension and Other Postretirement Benefit Expense | $ 1.3 | $ 1.3 | $ 1.1 |
General and Summary of Signif42
General and Summary of Significant Accounting Policies Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Net Income | $ 5,463 | $ 16,266 | $ 13,570 | $ 9,686 | $ 7,372 | $ 6,428 | $ 5,878 | $ 6,657 | $ 44,985 | $ 26,335 | $ 40,418 |
NET INCOME PER SHARE | |||||||||||
Weighted average number of common shares outstanding (basic) | 15,848,000 | 15,282,000 | 14,688,000 | ||||||||
Dilutive securities | 648,000 | 365,000 | 586,000 | ||||||||
Weighted Average common and common equivalent shares outstandding (diluted) | 16,496,000 | 15,647,000 | 15,274,000 | ||||||||
EPS - basic | $ 0.34 | $ 1.02 | $ 0.86 | $ 0.62 | $ 0.48 | $ 0.42 | $ 0.39 | $ 0.44 | $ 2.84 | $ 1.72 | $ 2.75 |
EPS - diluted | $ 0.33 | $ 0.98 | $ 0.83 | $ 0.60 | $ 0.46 | $ 0.42 | $ 0.38 | $ 0.43 | $ 2.73 | $ 1.68 | $ 2.65 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 16,000 | 10,000 |
General and Summary of Signif43
General and Summary of Significant Accounting Policies New Accounting Pronouncements (Details) $ in Millions | Dec. 31, 2014USD ($) |
Current deferred tax asset, gross total [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 4.7 |
Non-current deferred tax asset, gross total [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 13.9 |
Restructuring Charges (Details)
Restructuring Charges (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | $ 6,700 | $ 3,500 | |
Buy-out agreement | 1,900 | ||
Restructuring Reserve | 6,539 | 1,368 | |
Restructuring Reserve, Current | 1,369 | $ 0 | |
Restructuring Costs | 6,676 | 3,541 | |
Payments for Restructuring | (1,506) | (2,172) | |
Employee Severance [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 2,500 | ||
Restructuring Reserve | 2,505 | 1,358 | 0 |
Restructuring Costs | 2,582 | 3,530 | |
Payments for Restructuring | (1,435) | (2,172) | |
government incentive repayment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | 1,884 | 0 | 0 |
Restructuring Costs | 1,884 | 0 | |
Payments for Restructuring | 0 | 0 | |
Special Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | 1,845 | 0 | 0 |
Restructuring Costs | 1,905 | 0 | |
Payments for Restructuring | (60) | 0 | |
Other Restructuring [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | 305 | 11 | $ 0 |
Restructuring Costs | 305 | 11 | |
Payments for Restructuring | (11) | $ 0 | |
Business Restructuring Reserves [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | $ 4,200 |
Acquisitions and Strategic Tr45
Acquisitions and Strategic Transaction Expenses (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Acquisitions and Strategic Transaction Expenses [Abstract] | |||
Strategic Transaction Costs | $ 1.8 | $ 1.6 | $ 1.4 |
Acquisitions and Strategic Tr46
Acquisitions and Strategic Transaction Expenses Business Combinations (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |
Business Combination, Consideration Transferred | $ 56,786,000 | |
Sale of assets acquired in acquisition | 28,970,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | 254,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent | 4,426,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 3,982,000 | |
Finite-lived Intangible Assets Acquired | 18,076,000 | |
Goodwill, Acquired During Period | 4,985,000 | $ 0 |
Liabilities assumed | (3,907,000) | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 56,786,000 | |
Proceeds from Sales of Business, Affiliate and Productive Assets | $ 29,000,000 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 14 years | |
Asset Purchase Agreement [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Consideration Transferred | $ 59,500,000 | |
Customer Relationships [Member] | ||
Business Acquisition [Line Items] | ||
Indefinite-lived Intangible Assets Acquired | $ 7,100,000 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years | |
Developed Technology Rights [Member] | ||
Business Acquisition [Line Items] | ||
Indefinite-lived Intangible Assets Acquired | $ 3,700,000 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | |
Trade Names [Member] | ||
Business Acquisition [Line Items] | ||
Indefinite-lived Intangible Assets Acquired | $ 7,300,000 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years |
Gain on sale of building (Detai
Gain on sale of building (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Gain on Sale of Building [Abstract] | |||
Selling price of building | $ 3,600 | ||
Net Book Value of Building | 2,500 | ||
Gain on sale of building | $ 1,086 | $ 0 | $ 0 |
Legal settlements (Details)
Legal settlements (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Legal Settlements [Abstract] | |
Legal settlement charge | $ 6.5 |
LegalSettlementChargeForLegalFees | 0.7 |
Payments for Legal Settlements | 7.5 |
Gross legal settlement award | 8.8 |
Legal settlements | $ 5.3 |
Impairment on assets held for49
Impairment on assets held for sale (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Impairment of assets held for sale [Abstract] | |||
Impairment of assets held for sale | $ 4,139 | $ 0 | $ 0 |
Share Based Award Stock compens
Share Based Award Stock compensation and related tax benefits (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation | $ 12,827 | $ 9,592 | $ 5,434 |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 4,922 | 3,567 | 2,052 |
Indirect tax benefit from stock options | 1,997 | $ 209 | $ 866 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 22,700 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,763,300 | ||
Time-based stock option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options, Grants in Period, Gross | 22,816 | 492,935 | 244,440 |
Time based options grant date fair value | $ 590 | $ 7,311 | $ 3,934 |
Terms of Award | 5 years 7 months | 4 years 8 months | 4 years 7 months |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 25.90% | 26.70% | 29.20% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.70% | 1.40% | 0.80% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% |
Options, Grants in Period, Weighted Average Exercise Price | $ 93.30 | $ 58.92 | $ 62.12 |
Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 25.86 | $ 14.83 | $ 16.09 |
Performance stock options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options, Grants in Period, Gross | 244,825 | 699,625 | |
Performance stock options total grant date fair value | $ 6,087 | $ 13,344 | |
Terms of Award | 3 years | 4 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 30.86% | 31.70% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.30% | 2.90% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | |
Options, Grants in Period, Weighted Average Exercise Price | $ 91.88 | $ 58.90 | |
Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 24.86 | $ 19.07 |
Share Based Award Share based c
Share Based Award Share based compensation (Details) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options, Outstanding, Number | 2,379,407 | 2,556,936 |
Options, Outstanding, Weighted Average Exercise Price | $ 56.90 | $ 49.46 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 7 years 1 month | |
Options, Outstanding, Intrinsic Value | $ 132,963 | |
Options, Grants in Period, Gross | 267,641 | |
Options, Grants in Period, Weighted Average Exercise Price | $ 92 | |
Options, Exercises in Period | (435,146) | |
Options, Exercises in Period, Weighted Average Exercise Price | $ 34.77 | |
Options, Nonvested Options Forfeited, Number of Shares | (10,024) | |
Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value | $ 58.20 | |
Options, Vested, Number of Shares | 1,287,271 | |
Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $ 48.45 | |
Options, Exercisable, Weighted Average Remaining Contractual Term | 5 years 11 months | |
Options, Exercisable, Intrinsic Value | $ 82,809 | |
Options, Vested and Expected to Vest, Exercisable, Number | 2,379,407 | |
Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 56.90 | |
Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 7 years 1 month | |
Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 132,963 |
Share Based Award Options exerc
Share Based Award Options exercised data (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 28,071 | $ 18,802 | $ 21,847 |
Proceeds from Stock Options Exercised | 15,042 | 16,998 | 18,004 |
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | $ 9,330 | $ 5,700 | $ 6,966 |
Share Based Award Share Award d
Share Based Award Share Award data (Details) | Dec. 31, 2015$ / shares |
Share award data [Abstract] | |
Share Price | $ 112.78 |
Share Based Award Restricted St
Share Based Award Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Feb. 06, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share Price | $ 112.78 | |||
Performance Restricted Stock Units (PRSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.15% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | 0 | 15,085 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0 | $ 0 | $ 50.82 | |
Grant date fair value performance restricted stock units | $ 0 | $ 0 | $ 767 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested | $ 787 | $ 659 | $ 636 | |
Share Price | $ 61.76 | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 67,745 | 76,618 | 4,908 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 93.52 | $ 58.89 | $ 67.25 | |
Grant date fair value of restricted stock units granted | $ 6,336 | $ 4,512 | $ 330 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested | $ 2,754 | $ 292 | $ 412 | |
Restricted Stock and Performance Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 113,649 | 86,032 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 78.84 | $ 57.22 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 67,745 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 93.52 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (39,507) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share | $ 56.79 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (621) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value | $ 88.76 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 1 year | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested | $ 12,817 |
Share Based Award ESPP (Details
Share Based Award ESPP (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 22,700 | ||
Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 34,299 | 47,466 | 50,944 |
Stock Issued During Period, Value, Employee Stock Purchase Plan | $ 1,382 | $ 476 | $ 840 |
Fair Value Assumptions, Expected Term | 6 months | 6 months | 6 months |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 27.00% | 20.80% | 24.40% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.60% | 1.10% | 0.10% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% |
Shares available in employee stock purchase plan | 188,140 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 100 |
Fair Value Measurement (Details
Fair Value Measurement (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale Securities | $ 41,233 | $ 70,952 | |
Assets Held-for-sale, Not Part of Disposal Group, Current | 4,134 | 0 | |
Impairment of assets held for sale | 4,139 | 0 | $ 0 |
Assets Held-for-sale, Long Lived, Fair Value Disclosure | 4,134 | ||
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Held-for-sale, Long Lived, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Held-for-sale, Long Lived, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets Held-for-sale, Long Lived, Fair Value Disclosure | 4,134 | ||
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale Securities | 41,233 | 70,952 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale Securities | 0 | 0 | |
Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale Securities | 8,785 | 5,884 | |
Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale Securities | $ 32,448 | $ 65,068 |
Investment Securities_ (Details
Investment Securities: (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | $ 41,233 | $ 70,952 | |
Investment Maturity Date Range Start | Jan. 1, 2016 | ||
Investment Maturity Date Range End | Dec. 31, 2037 | ||
Investment Income, Interest and Dividend | $ 500 | 400 | $ 400 |
Federal tax-exempt debt securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 4,951 | 15,013 | |
Corporate Debt Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 25,400 | 46,209 | |
US Treasury Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 7,537 | 0 | |
Commercial Paper [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 2,097 | 3,846 | |
Certificates of deposit [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | $ 1,248 | $ 5,884 |
Accrued Liabilities (Details)
Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Accrued Liabilities [Abstract] | ||
Accrued salaries and benefits | $ 6,875 | $ 6,746 |
Accrued incentive compensation | 8,302 | 5,405 |
Accrued value added tax | 993 | 398 |
Restructuring Reserve | 6,539 | 1,368 |
Miscellaneous acquisition-related accrual | 1,604 | 0 |
Outside sales commissions | 1,023 | 1,146 |
Other Accrued Liabilities, Current | 3,612 | 2,287 |
Accrued liabilities | $ 28,948 | $ 17,350 |
Income Taxes_ Income from conti
Income Taxes: Income from continuing operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | $ 74,288 | $ 33,508 | $ 48,964 |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | (4,589) | 6,284 | 3,750 |
Income (Loss) from Continuing Operations Attributable to Parent | $ 69,699 | $ 39,792 | $ 52,714 |
Income Taxes_ Provision for inc
Income Taxes: Provision for income taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Current Federal Tax Expense (Benefit) | $ 18,601 | $ 13,860 | $ 14,575 |
Current State and Local Tax Expense (Benefit) | 745 | (1,305) | 2,145 |
Current Foreign Tax Expense (Benefit) | 1,426 | 2,100 | (70) |
Current Income Tax Expense (Benefit) | 20,772 | 14,655 | 16,650 |
Deferred Federal Income Tax Expense (Benefit) | 4,524 | (2,325) | 164 |
Deferred State and Local Income Tax Expense (Benefit) | (960) | 988 | (996) |
Deferred Foreign Income Tax Expense (Benefit) | 378 | 139 | (3,522) |
Deferred Income Tax Expense (Benefit) | 3,942 | (1,198) | (4,354) |
Income Tax Expense (Benefit) | 24,714 | 13,457 | 12,296 |
Allowance for Doubtful Accounts [Member] | |||
Income Tax Disclosure [Abstract] | |||
Deferred Income Tax Expense (Benefit) | 0 | 4 | 4 |
Inventory Valuation Reserve [Member] | |||
Income Tax Disclosure [Abstract] | |||
Deferred Income Tax Expense (Benefit) | 284 | (488) | 341 |
Accruals other [Member] | |||
Income Tax Disclosure [Abstract] | |||
Deferred Income Tax Expense (Benefit) | (2,977) | (1,326) | (470) |
State and Local Jurisdiction [Member] | |||
Income Tax Disclosure [Abstract] | |||
Deferred Income Tax Expense (Benefit) | 502 | (4) | 552 |
Acquired future tax deductions [Member] | |||
Income Tax Disclosure [Abstract] | |||
Deferred Income Tax Expense (Benefit) | 3,139 | 96 | 40 |
Depreciation and Amortization [Member] | |||
Income Tax Disclosure [Abstract] | |||
Deferred Income Tax Expense (Benefit) | 1,080 | (780) | (3,850) |
Operating Income (Loss) [Member] | |||
Income Tax Disclosure [Abstract] | |||
Deferred Income Tax Expense (Benefit) | 195 | 62 | 0 |
Tax credits [Member] | |||
Income Tax Disclosure [Abstract] | |||
Deferred Income Tax Expense (Benefit) | (635) | 1,238 | (971) |
Valuation Allowance of Deferred Tax Assets [Member] | |||
Income Tax Disclosure [Abstract] | |||
Deferred Income Tax Expense (Benefit) | $ 2,354 | $ 0 | $ 0 |
Income Taxes_ Tax benefit from
Income Taxes: Tax benefit from exercise of stock options (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | $ 9,330 | $ 5,700 | $ 6,966 |
Income Taxes_ Change in taxes p
Income Taxes: Change in taxes payable (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Income Tax Disclosure [Abstract] | |
Increase (Decrease) in Income Taxes Payable | $ 1.8 |
Income Taxes_ Effective tax rat
Income Taxes: Effective tax rate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $ 24,395 | $ 13,927 | $ 18,450 |
Income Tax Reconciliation, State and Local Income Taxes | 2,661 | 981 | 1,126 |
Income Tax Reconciliation, Tax Credits | (5,861) | (1,591) | (1,974) |
Income Tax Reconciliation, Tax Exempt Income | 0 | (3) | 0 |
Income Tax Reconciliation, Deductions, Qualified Production Activities | 107 | 104 | (403) |
Income Tax Reconciliation, Foreign Income Tax Rate Differential | $ 3,412 | $ 39 | $ (4,903) |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | 35.00% | 35.00% |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes | 3.90% | 2.50% | 2.10% |
Effective Income Tax Rate Reconciliation, Tax Credits | (8.40%) | (4.00%) | (3.70%) |
Effective Income Tax Rate Reconciliation, Tax Exempt Income | 0.00% | 0.00% | 0.00% |
Effective Income Tax Rate Reconciliation, Deductions, Qualified Production Activities | 0.10% | 0.20% | (0.80%) |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential | 4.90% | 0.10% | (9.30%) |
Effective Income Tax Rate, Continuing Operations | 35.50% | 33.80% | 23.30% |
Income Taxes_ Deferred income t
Income Taxes: Deferred income tax provision (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Components of deferred tax provision [Line Items] | |||
Deferred Income Tax Expense (Benefit) | $ 3,942 | $ (1,198) | $ (4,354) |
Allowance for Doubtful Accounts [Member] | |||
Components of deferred tax provision [Line Items] | |||
Deferred Income Tax Expense (Benefit) | 0 | 4 | 4 |
Inventory Valuation Reserve [Member] | |||
Components of deferred tax provision [Line Items] | |||
Deferred Income Tax Expense (Benefit) | 284 | (488) | 341 |
State and Local Jurisdiction [Member] | |||
Components of deferred tax provision [Line Items] | |||
Deferred Income Tax Expense (Benefit) | 502 | (4) | 552 |
Acquired future tax deductions [Member] | |||
Components of deferred tax provision [Line Items] | |||
Deferred Income Tax Expense (Benefit) | 3,139 | 96 | 40 |
Depreciation and Amortization [Member] | |||
Components of deferred tax provision [Line Items] | |||
Deferred Income Tax Expense (Benefit) | 1,080 | (780) | (3,850) |
Operating Income (Loss) [Member] | |||
Components of deferred tax provision [Line Items] | |||
Deferred Income Tax Expense (Benefit) | 195 | 62 | 0 |
Tax credits [Member] | |||
Components of deferred tax provision [Line Items] | |||
Deferred Income Tax Expense (Benefit) | (635) | 1,238 | (971) |
Valuation Allowance of Deferred Tax Assets [Member] | |||
Components of deferred tax provision [Line Items] | |||
Deferred Income Tax Expense (Benefit) | 2,354 | 0 | 0 |
Accruals other [Member] | |||
Components of deferred tax provision [Line Items] | |||
Deferred Income Tax Expense (Benefit) | $ (2,977) | $ (1,326) | $ (470) |
Income Taxes_ Deferred income65
Income Taxes: Deferred income tax assets (liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets and liabilities [Line Items] | ||
Non-current deferred tax asset | $ 17,099 | $ 13,941 |
Non-current deferred tax asset, gross total [Member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred Tax Assets, State Taxes | (1,647) | (1,862) |
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | 3,881 | 1,905 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Other | 1,432 | 2,604 |
Noncurrent deferred tax asset - depreciation and amortization | (11,735) | (5,594) |
Noncurrent deferred tax asset - acquired future tax deductions | 5,778 | 639 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 8,864 | 6,778 |
Deferred Tax Assets, Unrealized Currency Losses | 5,360 | 2,680 |
Noncurrent deferred tax asset - tax credits state | 5,887 | 5,102 |
Deferred Tax Assets, Inventory | 1,633 | 1,538 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | 0 | 151 |
Deferred Tax Assets, Valuation Allowance, Noncurrent | (2,354) | 0 |
Noncurrent deferred tax liability [Member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Noncurrent deferred tax liability - foreign | 1,372 | 1,376 |
Deferred Tax Liabilities, Net | $ 1,372 | $ 1,376 |
Income Taxes_ Unrecognized tax
Income Taxes: Unrecognized tax benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Unrecognized tax benefits [Abstract] | ||||
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | $ 25 | $ 217 | $ 391 | |
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions | 345 | 661 | 1,353 | |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | (2,399) | 0 | 0 | |
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities | (314) | (2,113) | 0 | |
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations | 0 | (194) | (436) | |
Unrecognized Tax Benefits | $ 1,772 | $ 4,115 | $ 5,544 | $ 4,236 |
Income Taxes_ Undistributed for
Income Taxes: Undistributed foreign earnings (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Undistributed Earnings of Foreign Subsidiaries | $ 17.8 | $ 14.5 |
Income Taxes_ Operating Loss Ca
Income Taxes: Operating Loss Carryforwards (Details) $ in Millions | Dec. 31, 2015USD ($) |
Operating loss carryforwards [Abstract] | |
Operating Loss Carryforwards | $ 4.9 |
Products, Major Customer, Con69
Products, Major Customer, Concentration of Credit Risk (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Assets Held-for-sale, Not Part of Disposal Group | $ 8,200 | $ 8,200 | |||||||||
Revenue, Net | 90,387 | $ 86,016 | $ 83,781 | $ 81,484 | $ 79,896 | $ 77,457 | $ 78,677 | $ 73,230 | |||
Hospira [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Percentage of total accounts receivable | 40.00% | 27.00% | |||||||||
Hospira [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Segment Reporting, Disclosure of Major Customers | 0.36 | 0.36 | 0.39 | ||||||||
Infusion Therapy [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue, Net | $ 244,746 | $ 216,280 | $ 221,192 | ||||||||
Critical Care Revenue [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue, Net | 54,312 | 55,074 | 54,328 | ||||||||
Oncology Revenue [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue, Net | 41,447 | 36,651 | 36,857 | ||||||||
Other Revenue [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue, Net | 1,163 | 1,255 | 1,339 | ||||||||
Sales Revenue, Net [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue, Net | $ 341,668 | $ 309,260 | $ 313,716 | ||||||||
UNITED STATES | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Percent of total revenue | 71.00% | 69.00% | 71.00% | ||||||||
International Sales [Domain] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Percent of total revenue | 29.00% | 31.00% | 29.00% | ||||||||
Mexico Property and Equipment [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | 53,462 | 51,554 | $ 53,462 | $ 51,554 | |||||||
Slovakia Property and Equipment [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | 5,480 | 16,643 | 5,480 | 16,643 | |||||||
Italy Property and Equipment [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | 4,418 | 4,855 | 4,418 | 4,855 | |||||||
Germany Property and Equipment [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | 671 | 638 | 671 | 638 | |||||||
NETHERLANDS | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | 49 | 0 | 49 | 0 | |||||||
AUSTRALIA | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | 35 | 0 | 35 | 0 | |||||||
United States property and equipment [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | $ 158,933 | $ 151,024 | $ 158,933 | $ 151,024 |
Operating Leases (Details)
Operating Leases (Details) - USD ($) $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Leased Assets [Line Items] | ||||||||
Operating Leases, Rent Expense | $ 0.4 | $ 0.2 | $ 0.2 | |||||
Scenario, Forecast [Member] | ||||||||
Operating Leased Assets [Line Items] | ||||||||
Operating Leases, Rent Expense | $ 0.1 | $ 0.1 | $ 0.1 | $ 0.4 | $ 1.1 |
Treasury Stock (Details)
Treasury Stock (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Equity, Class of Treasury Stock [Line Items] | ||
Treasury stock purchase plan | $ 40 | |
Treasury stock purchase plan remaining available | $ 22.5 | |
Stock Repurchased and Retired During Period, Shares | 5,600,000 | |
Shares Paid for Tax Withholding for Share Based Compensation | 17,299 | 4,232 |
Payments Related to Tax Withholding for Share-based Compensation | $ 1.5 | $ 0.2 |
Shares withheld for option exercise in lieu of cash payment | 823 | 4,583 |
Value of option exercises with shares remitted to the company in lieu of cash payment | $ 0.1 | $ 0.3 |
Quarterly Financial Data (Detai
Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenue, Net | $ 90,387 | $ 86,016 | $ 83,781 | $ 81,484 | $ 79,896 | $ 77,457 | $ 78,677 | $ 73,230 | |||
Gross Profit | 48,257 | 46,265 | 43,761 | 42,514 | 39,685 | 38,147 | 37,542 | 36,027 | $ 180,797 | $ 151,401 | $ 154,732 |
Net Income | $ 5,463 | $ 16,266 | $ 13,570 | $ 9,686 | $ 7,372 | $ 6,428 | $ 5,878 | $ 6,657 | $ 44,985 | $ 26,335 | $ 40,418 |
Basic | $ 0.34 | $ 1.02 | $ 0.86 | $ 0.62 | $ 0.48 | $ 0.42 | $ 0.39 | $ 0.44 | $ 2.84 | $ 1.72 | $ 2.75 |
Diluted | $ 0.33 | $ 0.98 | $ 0.83 | $ 0.60 | $ 0.46 | $ 0.42 | $ 0.38 | $ 0.43 | $ 2.73 | $ 1.68 | $ 2.65 |