0000816956-21-000003 | 10-K | XBRL Viewer

Dividends on common stock ($.80 per share)

10,037

(22,477)

Comprehensive income (loss):

Foreign currency translation adjustments

(8,369)

Pension liability (net of income tax expense/benefit)

(672)

Cash flow hedging gain (loss) (net of income tax expense/benefit)

8,331

Net income

40,854

Comprehensive income

40,144

Balance at period end (shares) at Dec. 31, 2018

31,299

Balance at period end at Dec. 31, 2018

662,270

$ 313

341,738

464,851

(55,737)

(88,895)

Balance at period end (Accounting Standards Update 2014-09 and 2018-02 [Member]) at Dec. 31, 2018

$ 440

$ 6,389

$ (5,949)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Common stock issued under employee plans

4,315

(3,843)

8,158

Dividends on common stock ($.80 per share)

11,779

(22,627)

Convertible notes discount, net

39,145

Convertible notes debt issuance costs

(1,233)

Convertible notes hedge, net

(38,829)

Issuance of warrants

30,567

Comprehensive income (loss):

Foreign currency translation adjustments

Pension liability (net of income tax expense/benefit)

Cash flow hedging gain (loss) (net of income tax expense/benefit)

(3,592)

Net income

28,620

Comprehensive income

25,080

Balance at period end (shares) at Dec. 31, 2019

31,299

Balance at period end at Dec. 31, 2019

710,467

$ 313

379,324

470,844

(59,277)

(80,737)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Common stock issued under employee plans

3,291

(9,807)

13,098

Dividends on common stock ($.80 per share)

13,111

(22,944)

Comprehensive income (loss):

Foreign currency translation adjustments

6,963

Pension liability (net of income tax expense/benefit)

(4,929)

Cash flow hedging gain (loss) (net of income tax expense/benefit)

(6,438)

Net income

9,517

Comprehensive income

5,113

Balance at period end (shares) at Dec. 31, 2020

31,299

Balance at period end at Dec. 31, 2020

$ 709,038

$ 313

$ 382,628

$ 457,417

$ (63,681)

$ (67,639)

[1]	We recorded the cumulative impact of adopting ASU 2014-09, Revenue from Contracts with Customers, (and its amendments) and ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) in 2018.

Consolidated Statements of Shareholder's Equity (Parenthetical) - $ / shares			12 Months Ended
	Oct. 28, 2013	Feb. 29, 2012	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Shareholders' Equity Parenthetical [Abstract]
Dividends per share of common stock (in dollars per share)	$ 0.20	$ 0.15	$ 0.80	$ 0.80	$ 0.80

Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
Consolidated Statements of Cash Flows $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Cash flows from operating activities:
Net income	$ 9,517	$ 28,620	$ 40,854
Adjustments to reconcile net income to net cash provided by operating acitivites:
Depreciation	18,044	18,688	18,530
Amortization of Debt Discount	9,692	8,302	0
Amortization of Deferred Debt Issuance Costs	3,723	3,454	1,042
Amortization	54,581	53,635	42,231
Stock-based compensation	13,111	11,779	10,037
Impairment charges	0	312	4,212
Deferred income taxes	(14,234)	(6,310)	2,063
Loss on early extinguishment of debt	0	300	0
Increase (decrease) in cash flows from changes in assets and liabilities, net of acquired assets
Accounts receivable	13,920	(13,943)	(17,460)
Inventories	(30,397)	(117)	(15,037)
Accounts payable	(2,977)	38	12,109
Income taxes	(1,644)	(1,867)	(2,193)
Accrued compensation and benefits	(4,123)	9,957	9,044
Other assets	(8,170)	(22,263)	(24,216)
Other liabilities	3,488	4,548	(6,515)
Total operating	55,014	66,513	33,847
Net cash provided by operating activities	64,531	95,133	74,701
Cash flows from investing activities:
Payments related to business acquisitions and asset acquisitions, net of cash acquired	(3,852)	(367,596)	0
Proceeds from Sale of Property Held-for-sale	3,227	0	0
Purchases of property, plant and equipment	(13,013)	(20,066)	(16,507)
Net cash used in investing activities	(13,638)	(387,662)	(16,507)
Cash flows from financing activities:
Payments on term loan	(13,250)	(154,312)	(13,125)
Proceeds from term loan	0	265,000	0
Payments on revolving line of credit	(212,000)	(484,000)	(168,000)
Proceeds from revolving line of credit	199,000	392,000	153,000
Proceeds from Convertible Debt	0	345,000	0
Payments on mortgage notes	0	(836)	(1,574)
Payments Related to Contingent Consideration	(2,671)	(6,466)	(21,323)
Payments related to debt issuance costs	(3,153)	(16,210)	(913)
Dividends paid on common stock	(22,818)	(22,600)	(22,443)
Purchase of Convertible Notes Hedges	0	(51,198)	0
Proceeds from Issuance of Warrants	0	30,567	0
Other, net	2,833	3,936	2,113
Net cash provided by (used in) financing activities	(52,059)	300,881	(72,265)
Effect of exchange rate changes on cash and cash equivalents	2,666	(7)	(1,040)
Net increase (decrease) in cash and cash equivalents	1,500	8,345	(15,111)
Cash and cash equivalents at beginning of year	25,856	17,511	32,622
Cash and cash equivalents at end of year	27,356	25,856	17,511
Non-cash investing and financing activities:
Contractual obligations from asset acquisition	0	5,639	8,360
Dividends payable	5,775	5,684	5,626
Cash paid during the year for:
Interest Paid, Excluding Capitalized Interest, Operating Activities	30,448	27,274	19,660
Income taxes	$ 9,120	$ 10,576	$ 11,048

Operations and Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Operations and Significant Accounting Policies

Organization and operations

CONMED Corporation (“CONMED”, the “Company”, “we” or “us”) is a medical technology company that provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and other healthcare professionals in a variety of specialties including orthopedics, general surgery, gynecology, thoracic surgery and gastroenterology.

Principles of consolidation

The consolidated financial statements include the accounts of CONMED Corporation and its controlled subsidiaries. All significant intercompany accounts and transactions have been eliminated.

Use of estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and judgments which affect the reported amounts of assets, liabilities, related disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. The Company considered COVID-19 related impacts on its estimates, as appropriate, within its consolidated financial statements and there may be changes to those estimates in future periods. The Company believes that the accounting estimates are appropriate after giving consideration to the increased uncertainties surrounding the severity and duration of the COVID-19 pandemic. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may differ from those estimates.

Cash and cash equivalents

We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents.

Inventories

Inventories are valued at the lower of cost and net realizable value determined on the FIFO (first-in, first-out) cost method.

We write-off excess and obsolete inventory resulting from the inability to sell our products at prices in excess of current carrying costs. We make estimates regarding the future recoverability of the costs of our products and record a provision for excess and obsolete inventories based on historical experience and expected future trends.

Property, plant and equipment

Property, plant and equipment are stated at cost and depreciated using the straight-line method over the following estimated useful lives:


			Building and improvements			12 to 40 years
			Leasehold improvements			Shorter of life of asset or life of lease
			Machinery and equipment			2 to 15 years

Leases

The Company leases various manufacturing facilities, office facilities and equipment under operating and finance leases. We determine if an arrangement is a lease at inception. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. We use the implicit rate when readily determinable. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Certain of our leases include variable lease payments, mainly when a lease is tied to an index rate. These variable lease payments are recorded as expense in the period incurred and are not material.

The Company has lease agreements with lease and non-lease components, which we account for separately. For certain equipment leases, we apply a portfolio approach to efficiently account for the operating lease ROU assets and lease liabilities. We also elected the short-term lease exemption and do not recognize leases with terms less than one year on the balance sheet. The related short-term lease expense is not material.

Our leases have remaining lease terms of one year to ten years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. We only account for such extensions or early terminations when it is reasonably certain we will exercise such options. Refer to Note 5 for further detail on leases.

The Company places certain of our capital equipment with customers on a loaned basis and at no charge in exchange for commitments to purchase related single-use products over time periods generally ranging from one to three years. Placed equipment is loaned and subject to return if minimum single-use purchases are not met. The Company accounts for these placements as operating leases but applies a practical expedient and does not separate the non-lease and lease components from the combined component. Accordingly, the Company accounts for the combined component as a single performance obligation with revenue recognized upon shipment of the related single use-products. The cost of the equipment is amortized over its estimated useful life which is generally five years.

Goodwill and other intangible assets

We have a history of growth through acquisitions. Assets and liabilities of acquired businesses are recorded at their estimated fair values as of the date of acquisition. Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Factors that contribute to the recognition of goodwill include synergies expected to increase net sales and profits; acquisition of a talented workforce; cost savings opportunities; the strategic benefit of expanding our presence in core and adjacent markets; and diversifying our product portfolio. Customer and distributor relationships, trademarks, tradenames, developed technology, patents and other intangible assets primarily represent allocations of purchase price to identifiable intangible assets of acquired businesses. Sales representation, marketing and promotional rights represent intangible assets created under our agreement with Musculoskeletal Transplant Foundation (“MTF”).

Goodwill and intangible assets deemed to have indefinite lives are not amortized, but are subject to at least annual impairment testing. It is our policy to perform our annual impairment testing in the fourth quarter. The identification and measurement of goodwill impairment involves the estimation of the fair value of our business. Estimates of fair value are based on the best information available as of the date of the assessment. We completed our goodwill impairment testing of our single reporting unit during the fourth quarter of 2020. We performed our impairment test utilizing the market capitalization approach to determine whether the fair value of a reporting unit is less than its carrying amount. Based upon our assessment, the fair value of our reporting unit continues to exceed carrying value.

For our indefinite-lived intangible assets, trademarks and tradenames, we performed our impairment testing as of the fourth quarter of 2020 utilizing the relief from royalty income based approach to determine whether the fair value is less than its carrying amount. A considerable amount of management judgment and assumptions are required in performing the impairment testing. The key assumptions used in the impairment testing were long-term revenue growth projections, royalty rates, discount rates and general industry, market and macro-economic conditions. Based upon our assessment, the fair value continues to exceed carrying value.

Intangible assets with a finite life are amortized over the estimated useful life of the asset and are evaluated each reporting period to determine whether events and circumstances warrant a revision to the remaining period of

amortization. Intangible assets subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. The carrying amount of an intangible asset subject to amortization is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use of the asset. An impairment loss is recognized by reducing the carrying amount of the intangible asset to its current fair value.

Other long-lived assets

We review other long-lived assets consisting of property, plant and equipment and field inventory for impairment whenever events or circumstances indicate that such carrying amounts may not be recoverable. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recognized by reducing the recorded value to its current fair value.

The Company maintains field inventory consisting of capital equipment for customer demonstration and evaluation purposes. Field inventory is generally not sold to customers but rather continues to be used over its useful life for demonstration, evaluation and loaner purposes. An annual wear and tear provision has been recorded on field inventory. The net book value of such equipment at December 31, 2020 and 2019 is $43.3 million and $50.3 million, respectively.

Translation of foreign currency financial statements

Assets and liabilities of foreign subsidiaries have been translated into United States dollars at the applicable rates of exchange in effect at the end of the period reported. Revenues and expenses have been translated at the applicable weighted average rates of exchange in effect during the period reported. Translation adjustments are reflected in accumulated other comprehensive loss. Transaction gains and losses are included in net income.

Foreign exchange and hedging activity

We manage our foreign currency transaction risks through the use of forward contracts to hedge forecasted cash flows associated with foreign currency transaction exposures. We account for these forward contracts as cash flow hedges. To the extent these forward contracts meet hedge accounting criteria, changes in their fair value are not included in current earnings but are included in accumulated other comprehensive loss. These changes in fair value will be reclassified into earnings as a component of sales or cost of sales when the forecasted transaction occurs.

We also enter into forward contracts to exchange foreign currencies for United States dollars in order to hedge our currency transaction exposures on intercompany receivables denominated in foreign currencies. These forward contracts settle each month at month-end, at which time we enter into new forward contracts. We have not designated these forward contracts as hedges and have not applied hedge accounting to them. We record these forward contracts at fair value with resulting gains and losses included in selling and administrative expense in the consolidated statements of comprehensive income.

Income taxes

Deferred income tax assets and liabilities are based on the difference between the financial statement and tax basis of assets and liabilities and operating loss and tax credit carryforwards as measured by the enacted tax rates that are anticipated to be in effect in the respective jurisdictions when these differences reverse. The deferred income tax provision generally represents the net change in the assets and liabilities for deferred income taxes. A valuation allowance is established when it is necessary to reduce deferred income tax assets to amounts for which realization is likely. In assessing the need for a valuation allowance, we estimate future taxable income, considering the feasibility of ongoing tax planning strategies and the realizability of tax loss carryforwards following tax law ordering rules. Valuation allowances related to deferred tax assets may be impacted by changes to tax laws, changes to statutory tax rates, reversal of temporary differences and ongoing and future taxable income levels.

Deferred income taxes are not provided on the unremitted earnings of certain subsidiaries outside of the United States earned after December 31, 2017 as it is expected that these earnings are permanently reinvested. Such earnings may become taxable upon a repatriation of assets from a subsidiary or the sale or liquidation of a subsidiary. Deferred income taxes are provided when the Company no longer considers subsidiary earnings to be permanently invested, such as in situations where the Company’s subsidiaries plan to make future dividend distributions.

Revenue recognition

The Company recognizes revenue when we have satisfied a performance obligation by transferring a promised good or service (that is an asset) to a customer. An asset is transferred when the customer obtains control of that asset. The following policies apply to our major categories of revenue transactions:

•Revenue is recognized when product is shipped at which point the performance obligation is satisfied and the customer obtains control of the product.

•We place certain of our capital equipment with customers on a loaned basis and at no charge in exchange for commitments to purchase related single-use products over time periods generally ranging from one to three years. In these circumstances, no revenue is recognized upon capital equipment shipment as the equipment is loaned and subject to return if certain minimum single-use purchases are not met. Revenue is recognized upon the sale and shipment of the related single-use products. The cost of the equipment is amortized over its estimated useful life which is generally five years.

•We recognize revenues in accordance with the terms of our agreement with MTF on a net basis as our role is that of an agent earning a commission or fee. MTF is responsible for the sourcing, processing and distribution of allograft tissue for sports medicine procedures while the Company represents, markets and promotes MTF’s sports medicine allograft tissues to customers. The Company is paid a fee by MTF which is calculated as a percentage of the net amounts invoiced by MTF to customers for sports medicine allograft tissues. The Company accounts for the services provided to MTF as a series of distinct performance obligations and each service is recognized over time as MTF simultaneously receives and consumes the benefit.

•Product returns are only accepted at the discretion of the Company and in accordance with our “Returned Goods Policy”. Historically, the level of product returns has not been significant. We accrue for sales returns, rebates and allowances based upon an analysis of historical customer returns and credits, rebates, discounts and current market conditions.

•Our terms of sale to customers generally do not include any obligations to perform future services. Limited warranties are provided for capital equipment sales and provisions for warranty are provided at the time of product sale based upon an analysis of historical data.

•Amounts billed to customers related to shipping and handling have been included in net sales. Shipping and handling costs included in selling and administrative expense were $14.6 million, $15.4 million and $14.0 million for 2020, 2019 and 2018, respectively.

•We sell to a diversified base of customers around the world and, therefore, believe there is no material concentration of credit risk.

•We assess the risk of loss on accounts receivable and adjust the allowance for doubtful accounts based on this risk assessment. We do so by applying historical loss rates to our accounts receivable aging schedule to estimate expected credit losses. We further adjusted expected credit losses for specifically identified and forecasted credit losses. Historically, losses on accounts receivable have not been material. Management believes that the allowance for doubtful accounts is adequate to provide for probable losses resulting from accounts receivable.

•We sell extended warranties to customers that are typically for a period of one to three years. The related revenue is recorded as a contract liability and recognized over the life of the contract on a straight-line basis, which is reflective of our obligation to stand ready to provide repair services.

Please refer to Note 10 for further detail on revenue.

Earnings per share

Basic earnings per share (“basic EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares outstanding resulting from employee stock options, restricted stock units, performance share units and stock appreciation rights during the period. The following table sets forth the computation of basic and diluted earnings per share at December 31, 2020, 2019 and 2018, respectively:


	2020		2019		2018

Net income	$	9,517	$	28,620	$	40,854

Basic-weighted average shares outstanding	28,581		28,325		28,118

Effect of dilutive potential securities	883		1,170		772

Diluted-weighted average shares outstanding	29,464		29,495		28,890

Net income (per share)
Basic	$	0.33	$	1.01	$	1.45
Diluted	0.32		0.97		1.41

The shares used in the calculation of diluted EPS exclude options and stock appreciation rights ("SARs") to purchase shares where the exercise price was greater than the average market price of common shares for the year and the effect of the inclusion would be anti-dilutive. Such shares aggregated approximately 1.4 million, 0.7 million and 0.7 million at December 31, 2020, 2019 and 2018, respectively. As more fully described in Note 7, our 2.625% convertible notes due in 2024 (the “Notes”) are convertible under certain circumstances, as defined in the indenture, into a combination of cash and CONMED common stock. The calculation of diluted EPS would include potential diluted shares upon conversion of the Notes when the average market price per share of our common stock for the period, is greater than the conversion price of the Notes of $88.80. During the years ended December 31, 2020 and 2019, our average share price has not exceeded the conversion price of the Notes; therefore, under the net share settlement method, there were no potential shares issuable under the Notes to be used in the calculation of diluted EPS. We intend to settle in cash the principal outstanding and use the treasury stock method when calculating their potential dilutive effect, if any. We have entered into convertible notes hedge transactions to increase the effective conversion price of the Notes to $114.92. However, our convertible notes hedges are not included when calculating potential dilutive shares since their effect is always anti-dilutive.

Stock-based compensation

All share-based payments to employees, including grants of employee stock options, restricted stock units, performance share units and stock appreciation rights are recognized in the financial statements based at their fair values. Compensation expense is generally recognized using a straight-line method over the vesting period. Compensation expense for performance share units is recognized using the graded vesting method.

We issue shares under our stock based compensation plans out of treasury stock whereby treasury stock is reduced by the weighted average cost of such treasury stock. To the extent there is a difference between the cost of the treasury stock and the exercise price of shares issued under stock based compensation plans, we record gains to paid in capital; losses are recorded to paid in capital to the extent any gain was previously recorded, otherwise the loss is recorded to retained earnings.

Accumulated other comprehensive loss

Accumulated other comprehensive loss consists of the following:


	Cash Flow Hedging Gain (Loss)		Pension Liability		Foreign Currency Translation Adjustments		Accumulated Other Comprehensive Loss

Balance, December 31, 2017	$	(3,530)	$	(25,813)	$	(19,735)	$	(49,078)

Other comprehensive income (loss) before reclassifications, net of tax	7,639		(2,711)		(8,369)		(3,441)
Amounts reclassified from accumulated other comprehensive income before tax(a)	913		2,689		—		3,602
Income tax	(221)		(650)		—		(871)

Net current-period other comprehensive income (loss)	8,331		(672)		(8,369)		(710)

Cumulative effect of change in accounting principle(b)	(716)		(5,233)		—		(5,949)

Balance, December 31, 2018	$	4,085	$	(31,718)	$	(28,104)	$	(55,737)

Other comprehensive income (loss) before reclassifications, net of tax	2,936		(2,158)		25		803
Amounts reclassified from accumulated other comprehensive income (loss) before tax(a)	(8,607)		2,881		—		(5,726)
Income tax	2,079		(696)		—		1,383

Net current-period other comprehensive income (loss)	(3,592)		27		25		(3,540)

Balance, December 31, 2019	$	493	$	(31,691)	$	(28,079)	$	(59,277)

Other comprehensive income (loss) before reclassifications, net of tax	(5,393)		(7,068)		6,963		(5,498)
Amounts reclassified from accumulated other comprehensive income (loss) before tax(a)	(1,378)		2,821		—		1,443
Income tax	333		(682)		—		(349)

Net current-period other comprehensive income (loss)	(6,438)		(4,929)		6,963		(4,404)

Balance, December 31, 2020	$	(5,945)	$	(36,620)	$	(21,116)	$	(63,681)

(a) The cash flow hedging gain (loss) and pension liability accumulated other comprehensive income components are included in sales or cost of sales and as a component of net periodic pension cost, respectively. Refer to Note 16 and Note 12, respectively, for further details.

(b) We recorded the cumulative impact of adopting ASU 2018-02 in 2018, which allows for the elimination of the stranded tax effects of Tax Reform through a reclassification between accumulated other comprehensive income (loss) and retained earnings.

Business Acqusition

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Business Acquisition

Business Acquisitions

On February 11, 2019 we acquired Buffalo Filter, LLC and all of the issued and outstanding common stock of Palmerton Holdings, Inc. from Filtration Group FGC LLC (the "Buffalo Filter Acquisition") for approximately $365 million in cash. Buffalo Filter develops, manufactures and markets smoke evacuation technologies that are complementary to our general

surgery offering. The business combination was funded through a combination of cash on hand and long-term borrowings as further described in Note 7.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as a result of the Buffalo Filter Acquisition.


Cash	$	119
Accounts receivable	4,587
Inventory	4,582
Other current assets	146
Current assets	9,434
Property, plant & equipment	4,036
Deferred income taxes	80
Goodwill	215,793
Customer relationships	124,000
Developed technology	9,000
Trademarks & tradenames	7,000
Other non-current assets	166
Total assets acquired	$	369,509

Current liabilities assumed	4,462


Total liabilities assumed	4,462
Net assets acquired	$	365,047

The goodwill recorded as part of the acquisition primarily represents revenue synergies, as well as operating efficiencies and cost savings. The goodwill deductible for tax purposes is $215.8 million. The weighted amortization period for intangibles acquired is 16 years. Customer relationships were valued using the multi-period excess earnings model, and are being amortized over a weighted average life of 16 years. Developed technology and trademarks and tradenames were valued using the relief from royalty method, and are being amortized over a weighted average life of 10 and 20 years, respectively. Significant judgment was applied in estimating the fair value of the customer relationships intangible asset acquired, which involved the use of significant estimates and assumptions with respect to the timing and amounts of cash flow projections, including revenue growth rates, customer attrition rates, the discount rate and projected cost of sales.

The unaudited pro forma information for the years ended December 31, 2019 and 2018, assuming the Buffalo Filter Acquisition occurred as of January 1, 2018 are presented below. This information has been prepared for comparative purposes only and does not purport to be indicative of the results of operations which actually would have resulted had the Buffalo Filter acquisition occurred on the dates indicated, or which may result in the future.


	2019		2018
Net sales	$	960,115	$	898,545
Net income	44,361		10,407

These pro forma results include certain adjustments, primarily due to increases in amortization expense due to fair value adjustments of intangible assets, increases in interest expense due to additional borrowings incurred to finance the acquisition, and acquisition related costs including transaction costs such as legal, accounting, valuation and other professional services as well as integration costs such as severance and retention.

Acquisition related costs included in the determination of pro forma net income for the year ended December 31, 2018 were $1.3 million in cost of goods sold and $13.1 million in selling and administrative expense on the consolidated statement of comprehensive income. Such amounts are excluded from the determination of pro forma net income for the year ended December 31, 2019.

Net sales associated with Buffalo Filter of $49.6 million have been recorded in the consolidated statement of comprehensive income for the year ended December 31, 2019. It is impracticable to determine the earnings recorded in the consolidated statement of comprehensive income for the year ended December 31, 2019 as these amounts are not separately measured.

On December 4, 2019, we acquired, through a share purchase agreement, the operations of a distributor for total estimated consideration of approximately $13.9 million. The purchase price included $4.1 million of identifiable intangible assets and $0.7 million of goodwill. Pro forma results of operations for the acquisition have not been presented as they are not material to our results of operations, either individually or in aggregate, for the period ended December 31, 2019.

Inventories

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following at December 31:


	2020		2019
Raw materials	$	71,807	$	51,103
Work in process	15,864		15,142
Finished goods	107,197		98,371
	$	194,868	$	164,616

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment consist of the following at December 31:


	2020		2019
Land	$	4,027	$	4,686
Building and improvements	93,886		95,632
Machinery and equipment	243,810		233,140
Construction in progress	15,680		13,318
	357,403		346,776
Less: Accumulated depreciation	(245,996)		(227,893)
	$	111,407	$	118,883

Internal-use software, included in gross machinery and equipment at December 31, 2020 and 2019 was $50.3 million and $49.6 million, respectively, with related accumulated depreciation of $42.9 million and $38.7 million, respectively. Internal use software depreciation expense was $4.7 million, $4.8 million and $4.7 million for the years ended December 31, 2020, 2019 and 2018, respectively. Also, during 2020, we sold a vacant facility for $3.2 million.

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

Lease costs for the year ended December 31, consist of the following:


	2020		2019
Operating lease cost:
Straight-line lease cost	$	7,255	$	7,780
Right-of-use asset impairment cost	—		312
Total operating lease cost	7,255		8,092
Finance lease cost:
Depreciation	355		238
Interest on lease liabilities	33		27
Total finance lease cost	388		265
Total lease cost	$	7,643	$	8,357

Rent expense on operating leases was approximately $8.7 million for the year ended December 31, 2018 in accordance with ASC 840. During 2018, we entered into capital lease obligations of $0.2 million, in connection with the purchase of equipment, in accordance with ASC 840.

Supplemental balance sheet information related to leases as of December 31, is as follows:


	2020			2019
Operating leases
Other assets (net of lease impairment of $1,001 at December 31, 2019)	$	21,659		$	23,099

Other current liabilities	$	7,469		$	7,268
Other long-term liabilities	14,756			17,096
Total operating lease liabilities	$	22,225		$	24,364

Finance leases
Property, plant and equipment, gross	$	1,762		$	1,684
Accumulated depreciation	(825)			(479)
Property, plant and equipment, net	$	937		$	1,205

Current portion of long-term debt	$	197		$	346
Long-term debt	390			490
Total finance lease liabilities	$	587		$	836


Weighted average remaining lease term (in years)
Operating leases	3.76 years			4.43 years
Finance leases	3.22 years			3.61 years

Weighted average discount rate
Operating leases	5.00		%	4.84		%
Finance leases	4.93		%	4.70		%

Supplemental cash flow information related to leases for the year ended December 31, was as follows:


	2020		2019

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,535	$	8,459
Financing cash flows from finance leases	373		380

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	4,242		12,800
Finance leases	76		563

Maturities of lease liabilities as of December 31, 2020 are as follows:


	Finance Lease		Operating Lease

2021	$	197	$	7,469
2022	254		6,792
2023	129		4,922
2024	38		3,676
2025	2		998
Thereafter	—		726
Total lease payments	620		24,583

Less imputed interest	(33)		(2,358)

Total lease liabilities	$	587	$	22,225

As of December 31, 2020, we have not entered into any operating or finance leases that have not yet commenced.

Leases

Lease costs for the year ended December 31, consist of the following:


	2020		2019
Operating lease cost:
Straight-line lease cost	$	7,255	$	7,780
Right-of-use asset impairment cost	—		312
Total operating lease cost	7,255		8,092
Finance lease cost:
Depreciation	355		238
Interest on lease liabilities	33		27
Total finance lease cost	388		265
Total lease cost	$	7,643	$	8,357

Supplemental balance sheet information related to leases as of December 31, is as follows:


	2020			2019
Operating leases
Other assets (net of lease impairment of $1,001 at December 31, 2019)	$	21,659		$	23,099

Other current liabilities	$	7,469		$	7,268
Other long-term liabilities	14,756			17,096
Total operating lease liabilities	$	22,225		$	24,364

Finance leases
Property, plant and equipment, gross	$	1,762		$	1,684
Accumulated depreciation	(825)			(479)
Property, plant and equipment, net	$	937		$	1,205

Current portion of long-term debt	$	197		$	346
Long-term debt	390			490
Total finance lease liabilities	$	587		$	836


Weighted average remaining lease term (in years)
Operating leases	3.76 years			4.43 years
Finance leases	3.22 years			3.61 years

Weighted average discount rate
Operating leases	5.00		%	4.84		%
Finance leases	4.93		%	4.70		%

Supplemental cash flow information related to leases for the year ended December 31, was as follows:


	2020		2019

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,535	$	8,459
Financing cash flows from finance leases	373		380

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	4,242		12,800
Finance leases	76		563

Maturities of lease liabilities as of December 31, 2020 are as follows:


	Finance Lease		Operating Lease

2021	$	197	$	7,469
2022	254		6,792
2023	129		4,922
2024	38		3,676
2025	2		998
Thereafter	—		726
Total lease payments	620		24,583

Less imputed interest	(33)		(2,358)

Total lease liabilities	$	587	$	22,225

As of December 31, 2020, we have not entered into any operating or finance leases that have not yet commenced.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

The changes in the net carrying amount of goodwill for the years ended December 31, are as follows:


	2020		2019
Balance as of January 1,	$	618,042	$	400,440

Goodwill resulting from business combinations	—		217,482

Goodwill adjustment resulting from business combinations	(1,009)		—

Foreign currency translation	1,407		120

Balance as of December 31,	$	618,440	$	618,042

During 2019, the Company acquired Buffalo Filter as further described in Note 2. Goodwill resulting from the acquisition amounted to $215.8 million and acquired intangible assets including customer and distributor relationships, developed technology and trademarks and tradenames amounted to $140.0 million. Total accumulated goodwill impairment losses aggregated $107.0 million at December 31, 2020 and 2019, respectively. During 2019, the Company acquired a

distributor as further described in Note 2 resulting in identifiable intangible assets of $4.1 million and goodwill. During 2020, the Company recorded a measurement period adjustment related to the acquired distributor.

Other intangible assets consist of the following:


	December 31, 2020					December 31, 2019
	Weighted Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Intangible assets with definite lives:

Customer and distributor relationships	24	$	342,639	$	(134,555)	$	342,568	$	(115,311)

Sales representation, marketing and promotional rights	25	149,376		(54,000)		149,376		(48,000)

Patents and other intangible assets	15	73,516		(48,882)		70,646		(46,456)

Developed technology	16	106,604		(19,705)		106,604		(13,171)

Intangible assets with indefinite lives:

Trademarks and tradenames		86,544		—		86,544		—

	22	$	758,679	$	(257,142)	$	755,738	$	(222,938)

Amortization expense related to intangible assets which are subject to amortization totaled $34.2 million, $32.3 million and $23.2 million for the years ending December 31, 2020, 2019 and 2018, respectively, and is included as a reduction of revenue (for amortization related to our sales representation, marketing and promotional rights) and in selling and administrative expense (for all other intangible assets) in the consolidated statements of comprehensive income. Included in developed technology is $1.6 million, $6.5 million and $21.3 million of earn-out consideration that was paid during 2020, 2019 and 2018, respectively, and an additional accrual of $6.0 million that is considered probable as of December 31, 2020 associated with a prior asset acquisition. The accrual is recorded in other current and other long-term liabilities at December 31, 2020.

The estimated amortization expense related to intangible assets at December 31, 2020 and for each of the five succeeding years is as follows:


	Amortization included in expense		Amortization recorded as a reduction of revenue		Total
2021	$	27,535	$	6,000	$	33,535
2022	26,377		6,000		32,377
2023	25,609		6,000		31,609
2024	24,794		6,000		30,794
2025	25,046		6,000		31,046

Long Term Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-term Debt

Long Term Debt

Long-term debt consists of the following at December 31:


	2020		2019
Revolving line of credit	$	207,000	$	220,000
Term loan, net of deferred debt issuance costs of $1,668 and $1,528 in 2020 and 2019, respectively	240,145		253,535
2.625% convertible notes, net of deferred debt issuance costs of $5,475 and $7,252 in 2020 and 2019, respectively, and unamortized discount of $33,620 and $43,312 in 2020 and 2019, respectively	305,904		294,436
Financing leases	587		836
Total debt	753,636		768,807
Less: Current portion	18,415		13,596
Total long-term debt	$	735,221	$	755,211

On February 7, 2019, we entered into a sixth amended and restated senior credit agreement consisting of: (a) a $265.0 million term loan facility and (b) a $585.0 million revolving credit facility. The revolving credit facility will terminate and the loans outstanding under the term loan facility will mature on the earlier of (i) February 7, 2024 or (ii) 91 days prior to the earliest scheduled maturity date of the 2.625% convertible notes due in 2024 described below, (if, as of such date, more than $150.0 million in aggregate principal amount of such convertible notes (or any refinancing thereof) remains outstanding). The term loan facility is payable in quarterly installments increasing over the term of the facility. Proceeds from the term loan facility and borrowings under the revolving credit facility were used to repay the then existing senior credit agreement and in part to finance the acquisition of Buffalo Filter. On April 17, 2020. we amended our sixth amended and restated senior credit agreement to suspend our required leverage ratios for up to four quarters as a result of the potential impact from the COVID-19 pandemic. On November 20, 2020, we entered into a third amendment under our senior credit agreement to lower the applicable margin on the loans and lower the interest floor on Eurocurrency loans agreed upon in April. Interest rates are adjusted so that the applicable margin for base rate loans is 2.00% per annum and for Eurocurrency rate loans is 3.00% per annum, and the applicable commitment fee rate for the revolving credit facility is 0.50%. Following the suspension period, the applicable margin will depend upon CONMED’s consolidated senior secured leverage ratio, using the pricing grid set forth in the amendment. Interest rates were at LIBOR (subject to 0.50% floor) plus an interest rate margin of 3.00% (3.50% at December 31, 2020).

There were $241.8 million in borrowings outstanding on the term loan facility as of December 31, 2020. There were $207.0 million in borrowings outstanding under the revolving credit facility as of December 31, 2020. Our available borrowings on the revolving credit facility at December 31, 2020 were $375.5 million with approximately $2.5 million of the facility set aside for outstanding letters of credit.

The sixth amended and restated senior credit agreement is collateralized by substantially all of our personal property and assets. The sixth amended and restated senior credit agreement contains covenants and restrictions which, among other things, require the maintenance of certain financial ratios and restrict dividend payments and the incurrence of certain indebtedness and other activities, including acquisitions and dispositions. We were in full compliance with these covenants and restrictions as of December 31, 2020. We are also required, under certain circumstances, to make mandatory prepayments from net cash proceeds from any issuance of equity and asset sales.

On January 29, 2019, we issued $345.0 million in 2.625% convertible notes due in 2024 (the "Notes"). Interest is payable semi-annually in arrears on February 1 and August 1 of each year, commencing August 1, 2019. The Notes will mature on February 1, 2024, unless earlier repurchased or converted. The Notes represent subordinated unsecured obligations and are convertible under certain circumstances, as defined in the indenture, into a combination of cash and CONMED common stock. The Notes may be converted at an initial conversion rate of 11.2608 shares of our common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $88.80 per share of common stock). Holders of the Notes may convert the Notes at their option at any time on or after November 1, 2023 through the second scheduled trading day preceding the maturity date. Holders of the Notes will also have the right to convert the Notes prior to November 1, 2023, but only upon the occurrence of specified events. The conversion rate is subject to anti-dilution adjustments if certain events occur. A portion of the net proceeds from the offering of the Notes were used as part of the financing for the Buffalo Filter acquisition and $21.0 million were used to pay the cost of certain convertible notes hedge transactions as further described below.

Our effective borrowing rate for nonconvertible debt at the time of issuance of the Notes was estimated to be 6.14%, which resulted in $51.6 million of the $345.0 million aggregate principal amount of Notes issued, or $39.1 million after taxes, being attributable to equity. For the years ended December 31, 2020 and 2019, we have recorded interest expense related to the amortization of debt discount on the Notes of $9.7 million and $8.3 million, respectively, at the effective interest rate of 6.14%. The debt discount on the Notes is being amortized through February 2024. For the year ended December 31, 2020 and 2019, we have recorded interest expense on the Notes of $9.1 million and $8.4 million, respectively, at the contractual coupon rate of 2.625%.

In connection with the offering of the Notes, we entered into convertible notes hedge transactions with a number of financial institutions (each, an “option counterparty”). The convertible notes hedge transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Notes, the number of shares of our common stock underlying the Notes. Concurrently with entering into the convertible notes hedge transactions, we also entered into separate warrant transactions with each option counterparty whereby we sold to such option counterparty warrants to purchase, subject to customary anti-dilution adjustments, the same number of shares of our common stock.

The convertible notes hedge transactions are expected generally to reduce the potential dilution upon conversion of the Notes and/or offset any cash payments we are required to make in excess of the principal amount of converted Notes, as the case may be, in the event that the market price per share of our common stock, as measured under the terms of the convertible notes hedge transactions, is greater than the strike price ($114.92) of the convertible notes hedge transactions, which initially corresponds to the conversion price of the Notes and is subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the Notes. If, however, the market price per share of our common stock, as measured under the terms of the warrant transactions, exceeds the strike price of the warrants, there would nevertheless be dilution to the extent that such market price exceeds the strike price of the warrants, unless we elect to settle the warrants in cash.

The scheduled maturities of long-term debt outstanding at December 31, 2020 are as follows:


2021	$	18,219
2022	24,843
2023	405,750
2024	345,000
2025	—
Thereafter	—

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The provision (benefit) for income taxes for the years ended December 31, 2020, 2019 and 2018 consists of the following:


	2020		2019		2018
Current tax expense (benefit):
Federal	$	(729)	$	96	$	(1,077)
State	86		444		777
Foreign	6,963		8,375		8,036
	6,320		8,915		7,736
Deferred income tax expense (benefit):
Federal	(12,253)		(3,970)		4,478
State	(1,173)		(938)		62
Foreign	(808)		(1,402)		(2,477)
	(14,234)		(6,310)		2,063

Provision (benefit) for income taxes	$	(7,914)	$	2,605	$	9,799

A reconciliation between income taxes computed at the statutory federal rate and the provision (benefit) for income taxes for the years ended December 31, 2020, 2019 and 2018 follows:


	2020		2019		2018
Tax provision at statutory rate based on income before income taxes	21.0	%	21.0	%	21.0	%

Stock-based compensation	(267.7)		(15.4)		(1.6)

Settlement of taxing authority examinations	(122.9)		(7.7)		(0.7)

Federal research credit	(124.2)		(4.0)		(2.8)

Tax treaty protocols	—		(2.9)		—

US tax on worldwide earnings at different rates	(123.7)		7.9		2.9

Foreign income taxes	129.6		6.4		3.6

Non deductible/non-taxable items	28.6		2.8		(1.4)

State income taxes, net of federal tax benefit	(24.5)		0.3		1.6

International tax reform	—		—		(3.6)

US tax reform	—		—		1.8



Other, net	(10.1)		(0.1)		(1.5)

	(493.9)	%	8.3	%	19.3	%

The 2017 Tax Cuts and Jobs Act ("Tax Reform") was enacted on December 22, 2017. The Tax Reform included a number of changes in existing tax law impacting businesses, including a one-time deemed repatriation of cumulative undistributed foreign earnings and a permanent reduction in the U.S. federal statutory rate from 35% to 21%, effective on January 1, 2018.

The SEC issued Staff Accounting Bulletin No. 118 to allow for a one-year measurement period to finalize estimated provisional amounts and the overall assessment of the impacts of Tax Reform. During 2018, the Company finalized its accounting and recorded $1.3 million of tax expense related to the revaluation of certain deferred tax items. This expense was offset in part by $0.4 million of tax benefit primarily resulting from finalization of the deemed repatriation toll charge, related foreign tax credits and adjustments to foreign withholding amounts. The final tax benefit related to Tax Reform was $31.0 million.

The Company has elected to account for Global Intangible Low Tax Income ("GILTI") using the period cost method. The net impact of GILTI including the allowable GILTI deduction is presented in the rate reconciliation as a component of “US tax on worldwide earnings at different rates” and is offset in part by the Foreign Derived Intangible Income deduction (“FDII”).

The tax effects of the significant temporary differences which comprise the deferred income tax assets and liabilities at December 31, 2020 and 2019 are as follows:


	2020		2019
Assets:
Inventory	$	4,649	$	4,085
Net operating losses	22,197		3,679
Capitalized research and development	5,187		6,201
Deferred compensation	2,240		2,102
Accounts receivable	2,784		2,556
Compensation and benefits	7,540		6,049
Accrued pension	5,348		3,710
Research and development credit	13,540		10,321
Interest limitation	—		5,702
Convertible notes hedge	6,999		9,004
Lease liabilities	4,452		5,688
Other	6,793		4,336
Less: valuation allowances	(2,721)		(1,732)
	79,008		61,701

Liabilities:
Goodwill and intangible assets	104,119		102,015
Depreciation	2,512		301
State taxes	9,614		11,161
Unremitted foreign earnings	2,423		2,619
Convertible notes debt discount	7,060		9,096
Lease right-of-use assets	4,313		5,338

	130,041		130,530

Net liability	$	(51,033)	$	(68,829)

Income before income taxes consists of the following U.S. and foreign income:


	2020		2019		2018
U.S. income	$	(16,026)	$	5,332	$	24,320
Foreign income	17,629		25,893		26,333
Total income	$	1,603	$	31,225	$	50,653

As of December 31, 2020, the amount of federal net operating loss carryforward was $19.4 million and begins to expire in 2027. As of December 31, 2020, the amount of federal research credit carryforward available was $13.5 million. These credits begin to expire in 2027.

We have accrued tax liabilities related to the amount of unremitted earnings at December 31, 2017 and certain subsequent unremitted earnings as these are not considered permanently reinvested. Deferred taxes have not been accrued on unremitted earnings subsequent to December 31, 2017 that are considered permanently reinvested. The amount of such untaxed foreign earnings for the periods occurring after December 2017 totaled $22.6 million. If we were to repatriate these funds, we would be required to accrue and pay taxes on such amounts. The Company has estimated foreign withholding taxes of $1.5 million would be due if these earnings were repatriated.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020 to provide economic relief in the early wake of the COVID-19 pandemic. The CARES Act includes many measures to assist companies, including temporary changes to income and non-income-based tax laws. Income tax relief includes temporary favorable changes to net operating loss and interest expense annual deduction limitations. Additionally, on December 27, 2020, the Consolidated Appropriations Act was signed into law to enhance and expand provisions of the CARES Act and provide other taxpayer relief. These provisions did not have a material impact to our 2020 financial results.

The Company is subject to taxation in the United States and various states and foreign jurisdictions. Taxing authority examinations can involve complex issues and may require an extended period of time to resolve. Our federal income tax returns have been examined by the Internal Revenue Service (“IRS”) for calendar years ending through 2018.

We recognize tax liabilities in accordance with the provisions for accounting for uncertainty in income taxes. Such guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.

The following table summarizes the activity related to our unrecognized tax benefits for the years ending December 31,:


	2020		2019		2018
Balance as of January 1,	$	2,170	$	3,073	$	2,943

Increases (decreases) for positions taken in prior periods	—		—		(250)

Increases for positions taken in current periods	—		1,650		1,017

Decreases in unrecorded tax positions related to settlement with the taxing authorities	(1,970)		(2,404)		(370)

Decreases in unrecorded tax positions related to lapse of statute of limitations	—		(149)		(267)

Balance as of December 31,	$	200	$	2,170	$	3,073

If the total unrecognized tax benefits of $0.2 million at December 31, 2020 were recognized, it would reduce our annual effective tax rate. The amount of interest accrued in 2018, 2019 and 2020 related to these unrecognized tax benefits was not material and is included in the provision (benefit) for income taxes in the consolidated statements of comprehensive income.

Revenue from Contract with Customer

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

On February 29, 2012, the Board of Directors adopted a cash dividend policy and declared an initial quarterly dividend of $0.15 per share. On October 28, 2013, the Board of Directors increased the quarterly dividend to $0.20 per share. The total dividend per share was $0.80 for each of 2020, 2019 and 2018. The fourth quarter dividend for 2020 was paid on January 5, 2021 to shareholders of record as of December 15, 2020. The total dividend payable was $5.8 million and $5.7 million at December 31, 2020 and 2019, respectively, and is included in other current liabilities in the consolidated balance sheet.

Our shareholders have authorized 500,000 shares of preferred stock, par value $.01 per share, which may be issued in one or more series by the Board of Directors without further action by the shareholders. As of December 31, 2020 and 2019, no preferred stock had been issued.

Our Board of Directors has authorized a $200.0 million share repurchase program. Through December 31, 2020, we have repurchased a total of 6.1 million shares of common stock aggregating $162.6 million under this authorization and have $37.4 million remaining available for share repurchases. The repurchase program calls for shares to be purchased in the open market or in private transactions from time to time. We may suspend or discontinue the share repurchase program at any time. During 2020, 2019, and 2018 we did not repurchase any shares.

We have reserved 7.1 million shares of common stock for issuance to employees and directors under two shareholder approved share-based compensation plans (the "Plans") of which approximately 3.8 million shares remain available for grant at December 31, 2020. The exercise price on all outstanding stock options and stock appreciation rights (“SARs”) is equal to the quoted fair market value of the stock at the date of grant. Restricted stock units (“RSUs”) and performance stock units (“PSUs”) are valued at the market value of the underlying stock on the date of grant. Stock options, SARs, RSUs and PSUs are generally non-transferable other than on death and generally become exercisable over a 4 to 5 year period from date of grant. Stock options and SARs expire 10 years from date of grant. SARs are only settled in shares of the Company’s stock. The issuance of shares pursuant to the exercise of stock options and SARs and vesting of RSUs and PSUs are from the Company’s treasury stock.

Total pre-tax stock-based compensation expense recognized in the consolidated statements of comprehensive income was $13.1 million, $11.8 million and $10.0 million for the years ended December 31, 2020, 2019 and 2018, respectively. These amounts are included in selling and administrative expense. Tax related benefits of $3.2 million, $2.8 million and $2.3 million were also recognized for the years ended December 31, 2020, 2019 and 2018, respectively. Cash received from the exercise of stock options was $13.7 million, $7.7 million and $3.5 million for the years ended December 31, 2020, 2019 and 2018, respectively, and is reflected in cash flows from financing activities in the consolidated statements of cash flows.

The Company uses the Black-Scholes option pricing model to estimate the fair value of stock options and SARs at the date of grant. Use of a valuation model requires management to make certain assumptions with respect to select model inputs. Expected volatilities are based upon historical volatility of the Company’s stock over a period equal to the expected life of each stock option and SAR grant. The risk free interest rate is based on the stock option and SAR grant date for a traded U.S. Treasury bond with a maturity date closest to the expected life. The expected annual dividend yield is based on the Company's anticipated cash dividend payouts. The expected life represents the period of time that the stock options and SARs are expected to be outstanding based on a study of historical data of option holder exercise and termination behavior. Forfeitures are recognized as incurred.

The following table illustrates the assumptions used in estimating fair value in the years ended December 31, 2020, 2019 and 2018:


	2020			2019			2018
Grant date fair value of stock options and SARs	$	22.62		$	20.59		$	14.78
Expected stock price volatility	26.89		%	26.59		%	25.69		%
Risk-free interest rate	0.89		%	2.58		%	2.62		%
Expected annual dividend yield	0.82		%	1.08		%	1.34		%
Expected life of options & SARs (years)	5.5			5.6			5.7

The following table illustrates the stock option and SAR activity for the year ended December 31, 2020:


	Number of Shares (in 000’s)	Weighted- Average Exercise Price
Outstanding at December 31, 2019	3,253	$	55.97

Granted	859	$	95.84
Forfeited	(250)	$	72.81
Exercised	(526)	$	45.07

Outstanding at December 31, 2020	3,336	$	66.76
Exercisable at December 31, 2020	1,199	$	52.18
Stock options & SARs expected to vest	2,137	$	74.94

The weighted average remaining contractual term for SARs and stock options outstanding and exercisable at December 31, 2020 was 7.2 years and 5.8 years, respectively. The aggregate intrinsic value of SARs and stock options outstanding and exercisable at December 31, 2020 was $150.9 million and $71.7 million, respectively. The aggregate intrinsic

value of stock options and SARs exercised during the years ended December 31, 2020, 2019 and 2018 was $26.6 million, $17.0 million and $4.2 million, respectively.

The following table illustrates the RSU and PSU activity for the year ended December 31, 2020:


	Number of Shares (in 000’s)	Weighted- Average Grant-Date Fair Value
Outstanding at December 31, 2019	169	$	48.94

Granted	37	$	85.45
Vested	(140)	$	43.99
Forfeited	(5)	$	79.30

Outstanding at December 31, 2020	61	$	77.03

The weighted average fair value of awards of RSUs granted in the years ended December 31, 2020, 2019 and 2018 was $85.45, $78.64 and $61.76, respectively.

The total fair value of RSUs and PSUs vested was $6.2 million, $2.8 million and $3.0 million for the years ended December 31, 2020, 2019 and 2018, respectively.

As of December 31, 2020, there was $33.1 million of total unrecognized compensation cost related to nonvested stock options, SARs and RSUs granted under the Plans which is expected to be recognized over a weighted average period of 3.4 years.

We offer to our employees a shareholder-approved Employee Stock Purchase Plan (the “Employee Plan”), under which we reserved 1.0 million shares of common stock for issuance to our employees. The Employee Plan provides employees with the opportunity to invest from 1% to 10% of their annual salary to purchase shares of CONMED common stock at a purchase price equal to 95% of the fair market value of the common stock on the exercise date. During 2020, we issued approximately 22,165 shares of common stock under the Employee Plan. No stock-based compensation expense has been recognized in the accompanying consolidated financial statements as a result of common stock issuances under the Employee Plan.

Revenues

12 Months Ended

Dec. 31, 2020

Revenues [Abstract]

Revenues

The following tables present revenue disaggregated by product line and timing of revenue recognition for the years ended December 31, 2020, 2019 and 2018:


	2020
	Orthopedic Surgery		General Surgery		Total
Timing of Revenue Recognition
Goods transferred at a point in time	$	340,318	$	484,147	$	824,465
Services transferred over time	34,387		3,607		37,994
Total sales from contracts with customers	$	374,705	$	487,754	$	862,459


	2019
	Orthopedic Surgery		General Surgery		Total
Timing of Revenue Recognition
Goods transferred at a point in time	$	426,893	$	489,313	$	916,206
Services transferred over time	36,429		2,462		38,891
Total sales from contracts with customers	$	463,322	$	491,775	$	955,097


	2018
	Orthopedic Surgery		General Surgery		Total
Timing of Revenue Recognition
Goods transferred at a point in time	$	413,630	$	411,391	$	825,021
Services transferred over time	33,098		1,515		34,613
Total sales from contracts with customers	$	446,728	$	412,906	$	859,634

Revenue disaggregated by primary geographic market where the products are sold is included in Note 11.

Contract liability balances related to the sale of extended warranties to customers are as follows:


	December 31, 2020		December 31, 2019

Contract Liability	$	13,666	$	14,276

Revenue recognized during years ended December 31, 2020, 2019 and 2018 from amounts included in contract liabilities at the beginning of the period were $9.3 million, $6.8 million and $5.0 million, respectively. There were no material contract assets as of December 31, 2020 and December 31, 2019.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Business Segments and Geographic Areas

Business Segments and Geographic Areas

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

We are accounting and reporting for our business as a single operating segment entity engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. Our chief operating decision maker (the CEO) evaluates the various global product portfolios on a net sales basis and evaluates profitability, investment, cash flow metrics and allocates resources on a consolidated worldwide basis due to shared infrastructure and resources. Our product lines consist of orthopedic surgery and general surgery. Orthopedic surgery consists of sports medicine instrumentation and small bone, large bone and specialty powered surgical instruments as well as imaging systems for use in minimally invasive surgery procedures including 2DHD and 3DHD vision technologies and fees related to sales representation, promotion and marketing of sports medicine allograft tissue. General surgery consists of a complete line of endo-mechanical instrumentation for minimally invasive laparoscopic and gastrointestinal procedures, a line of cardiac monitoring products as well as electrosurgical generators and related instruments. These product lines' net sales and primary geographic market where the products are sold, are as follows for the years ended December 31, 2020, 2019 and 2018:


	2020
	Orthopedic Surgery		General Surgery		Total
Primary Geographic Markets
United States	$	139,715	$	342,349	$	482,064
Americas (excluding the United States)	50,356		28,358		78,714
Europe, Middle East & Africa	90,998		70,086		161,084
Asia Pacific	93,636		46,961		140,597
Total sales from contracts with customers	$	374,705	$	487,754	$	862,459


	2019
	Orthopedic Surgery		General Surgery		Total
Primary Geographic Markets
United States	$	179,419	$	337,246	$	516,665
Americas (excluding the United States)	64,269		31,004		95,273
Europe, Middle East & Africa	118,301		64,248		182,549
Asia Pacific	101,333		59,277		160,610
Total sales from contracts with customers	$	463,322	$	491,775	$	955,097


	2018
	Orthopedic Surgery		General Surgery		Total
Primary Geographic Markets
United States	$	172,462	$	276,186	$	448,648
Americas (excluding the United States)	66,519		31,009		97,528
Europe, Middle East & Africa	112,998		53,565		166,563
Asia Pacific	94,749		52,146		146,895
Total sales from contracts with customers	$	446,728	$	412,906	$	859,634

Sales are attributed to countries based on the location of the customer. There were no significant investments in long-lived assets located outside the United States at December 31, 2020 and 2019. No single customer represented over 10% of our consolidated net sales for the years ended December 31, 2020, 2019 and 2018.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Employee Benefit Plans

We sponsor an employee savings plan (“401(k) plan”) covering substantially all of our United States based employees. We also sponsor a defined benefit pension plan (the “pension plan”) that was frozen in 2009. It covered substantially all our United States based employees at the time it was frozen.

Total employer contributions to the 401(k) plan were $8.9 million, $9.1 million and $8.3 million during the years ended December 31, 2020, 2019 and 2018, respectively.

We use a December 31, measurement date for our pension plan. Cumulative gains and losses in excess of 10% of the greater of the benefit obligation or the market-related value of assets are amortized on a straight-line basis over the lesser of the expected average remaining life expectancy of the plan's participants or 12 years. The limit of 12 years is adjusted to reflect the percentage change in the average remaining service period for the plan's active membership.

The following table provides a reconciliation of the projected benefit obligation, plan assets and funded status of the pension plan at December 31:


	2020		2019
Accumulated benefit obligation	$	101,242	$	92,052

Change in benefit obligation
Projected benefit obligation at beginning of year	$	92,052	$	80,776
Service cost	717		1,010
Interest cost	2,555		3,130
Actuarial loss	10,963		10,561
Benefits paid	(1,933)		(2,299)
Settlements	(3,112)		(1,126)
Projected benefit obligation at end of year	$	101,242	$	92,052

Change in plan assets
Fair value of plan assets at beginning of year	$	75,321	$	66,307
Actual gain (loss) on plan assets	6,664		12,439
Benefits paid	(1,933)		(2,299)
Settlements	(3,112)		(1,126)
Fair value of plan assets at end of year	$	76,940	$	75,321

Funded status	$	(24,302)	$	(16,731)

The projected benefit obligation increased $9.2 million as of December 31, 2020 mainly due to the decrease in the discount rate from 3.33% at December 31, 2019 to 2.44% at December 31, 2020.

Amounts recognized in the consolidated balance sheets consist of the following at December 31,:


	2020		2019
Other long-term liabilities	$	(24,302)	$	(16,731)
Accumulated other comprehensive loss	(48,285)		(41,787)

Accumulated other comprehensive loss for the years ended December 31, 2020 and 2019 consists of net actuarial losses not yet recognized in net periodic pension cost (before income taxes).

The following actuarial assumptions were used to determine our accumulated and projected benefit obligations as of December 31,:


	2020		2019
Discount rate	2.44	%	3.33	%

Other changes in plan assets and benefit obligations recognized in other comprehensive income in 2020 and 2019 are as follows:


	2020		2019
Current year actuarial loss	$	(9,319)	$	(2,846)
Amortization of actuarial loss	2,821		2,881
Total recognized in other comprehensive loss	$	(6,498)	$	35

Net periodic pension cost for the years ended December 31, consists of the following:


	2020		2019		2018
Service cost	$	717	$	1,010	$	675
Interest cost on projected benefit obligation	2,555		3,130		2,806
Expected return on plan assets	(5,021)		(4,725)		(5,418)
Amortization of loss	2,821		2,881		2,689

Net periodic pension cost	$	1,072	$	2,296	$	752

Non-service cost of $0.4 million and $1.3 million is included in other expense in the consolidated statements of comprehensive income for the years ended 2020 and 2019, respectively.

The following actuarial assumptions were used to determine our net periodic pension benefit cost for the years ended December 31,:


	2020		2019		2018
Discount rate on benefit obligation	3.33	%	4.37	%	3.69	%
Effective rate for interest on benefit obligation	2.88	%	4.01	%	3.28	%
Expected return on plan assets	7.00	%	7.50	%	7.50	%

The Company’s discount rate assumption is the significant assumption in determining the projected benefit obligation of the Company’s pension plan.

The discount rate represents the interest rate used in estimating the present value of projected cash flows to settle the Company’s pension obligations. The discount rate assumption is determined by management using a full yield curve approach, which involves applying the specific spot rates along the yield curve used in the determination of the benefit obligation that correlates to the relevant projected cash flows.

In determining the expected return on pension plan assets, we consider the relative weighting of plan assets, the historical performance of total plan assets and individual asset classes and economic and other indicators of future performance. In addition, we consult with financial and investment management professionals in developing appropriate targeted rates of return.

Asset management objectives include maintaining an adequate level of diversification to reduce interest rate and market risk and providing adequate liquidity to meet immediate and future benefit payment requirements.

The allocation of plan assets by category is as follows at December 31,:


	Percentage of Pension Plan Assets				Target Allocation
	2020		2019		2021
Equity securities	76	%	74	%	75	%
Debt securities	24	%	26	%	25	%
Total	100	%	100	%	100	%

As of December 31, 2020, the pension plan held 27,562 shares of our common stock, which had a fair value of $3.1 million. We believe that our long-term asset allocation on average will approximate the targeted allocation. We regularly review our actual asset allocation and periodically rebalance the pension plan’s investments to our targeted allocation when deemed appropriate.

FASB guidance defines fair value and establishes a framework for measuring fair value and related disclosure requirements as described in Note 16. Following is a description of the valuation methodologies used for our pension assets. There have been no changes in the methodologies used at December 31, 2020 and 2019:


Common Stock:			Common stock is valued at the closing price reported on the common stock’s respective stock exchange and is classified within level 1 of the valuation hierarchy.

Fixed Income Securities:			Valued at the closing price reported on the active market on which the individual securities are traded and are classified within level 1 of the valuation hierarchy.

Money Market Fund:			These investments are public investment vehicles valued using the Net Asset Value (NAV).

Mutual Funds:			These investments are public investment vehicles valued using the Net Asset Value (NAV) provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the pension plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The following table sets forth the value of the pension plan's assets as of December 31, 2020 and December 31, 2019:


	2020		2019
Investments measured at fair value:
Level 1
Common Stock	$	9,185	$	8,307
Fixed Income Securities	17,848		18,609
Total Investments measured at fair value	27,033		26,916

Investments measured at NAV:
Money Market Fund	915		789
Mutual Funds	48,992		47,616
Total Investments measured at NAV	49,907		48,405

Total Investments	$	76,940	$	75,321

We do not expect to make any contributions to our pension plan for 2021.

The following table summarizes the benefits and settlements expected to be paid by our pension plan in each of the next five years and in aggregate for the following five years. The expected payments are estimated based on the same assumptions used to measure the Company’s projected benefit obligation at December 31, 2020 and reflect the impact of expected future employee service.


2021			$5,579
2022			6,275
2023			5,944
2024			5,545
2025			5,815
2026-2030			26,944

The entire disclosure for retirement benefits.

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Acquisition and Other Expense [Abstract]

Legal Matters and Contingencies	12 Months Ended
Legal Matters and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Legal Matters and Contingencies	Legal Matters and Contingencies From time to time, the Company may receive an information request, subpoena or warrant from a government agency such as the Securities and Exchange Commission, Department of Justice, Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, the United States Food and Drug Administration, the Department of Labor, the Treasury Department or other federal and state agencies or foreign governments or government agencies. These information requests, subpoenas or warrants may or may not be routine inquiries, or may begin as routine inquiries and over time develop into enforcement actions of various types. Likewise, if we receive reports of alleged misconduct from employees and third parties, we investigate as appropriate. Manufacturers of medical devices have been the subject of various enforcement actions relating to interactions with health care providers domestically or internationally whereby companies are claimed to have provided health care providers with inappropriate incentives to purchase their products. Similarly, the Foreign Corrupt Practices Act ("FCPA") imposes obligations on manufacturers with respect to interactions with health care providers who may be considered government officials based on their affiliation with public hospitals. The FCPA also requires publicly listed manufacturers to maintain accurate books and records, and maintain internal accounting controls sufficient to provide assurance that transactions are accurately recorded, lawful and in accordance with management's authorization. The FCPA poses unique challenges both because manufacturers operate in foreign cultures in which conduct illegal under the FCPA may not be illegal in local jurisdictions, and because, in some cases, a United States manufacturer may face risks under the FCPA based on the conduct of third parties over whom the manufacturer may not have complete control. While CONMED has not experienced any material enforcement action to date, there can be no assurance that the Company will not be subject to a material enforcement action in the future, or that the Company will not incur costs including, in the form of fees for lawyers and other consultants, that are material to the Company’s results of operations in the course of responding to a future inquiry or investigation. Manufacturers of medical products may face exposure to significant product liability claims, as well as patent infringement and other claims incurred in the ordinary course of business. To date, we have not experienced any claims that have been material to our financial statements or financial condition, but any such claims arising in the future could have a material adverse effect on our business, results of operations or cash flows. We currently maintain commercial product liability insurance of $30 million per incident and $30 million in the aggregate annually, which we believe is adequate. This coverage is on a claims-made basis. There can be no assurance that claims will not exceed insurance coverage, that the carriers will be solvent or that such insurance will be available to us in the future at a reasonable cost. Our operations are subject, and in the past have been subject, to a number of environmental laws and regulations governing, among other things, air emissions; wastewater discharges; the use, handling and disposal of hazardous substances and wastes; soil and groundwater remediation and employee health and safety. Likewise, the operations of our suppliers and sterilizers are subject to similar environmental laws and regulations. In some jurisdictions, environmental requirements may be expected to become more stringent in the future. In the United States, certain environmental laws can impose liability for the entire cost of site restoration upon each of the parties that may have contributed to conditions at the site regardless of fault or the lawfulness of the party’s activities. While we do not believe that the present costs of environmental compliance and remediation are material, there can be no assurance that future compliance or remedial obligations would not have a material adverse effect on our financial condition, results of operations or cash flows. In 2014, the Company acquired EndoDynamix, Inc. The agreement governing the terms of the acquisition provides that, if various conditions are met, certain contingent payments relating to the first commercial sale of the products (the milestone payment), as well as royalties based on sales (the revenue based payments), are due to the seller. In 2016, we notified the seller that there was a need to redesign the product, and that, as a consequence, the first commercial sale had been delayed. Consequently, the payment of contingent milestone and revenue-based payments were delayed. On January 18, 2017, the seller provided notice ("the Notice") seeking $12.7 million under a liquidated damages clause, which essentially represents the seller's view as to the sum of the projected contingent milestone and revenue-based payments on an accelerated basis. CONMED responded to the Notice denying that there was any basis for acceleration of the payments due under the acquisition agreement. On February 22, 2017, the representative of the former shareholders of EndoDynamix filed a complaint in Delaware Chancery Court claiming breach of contract with respect to the duty to commercialize the product and seeking the contingent payments on an accelerated basis. We believe that there was a substantive contractual basis to support the Company's decision to redesign the product, such that there was no legitimate basis for seeking the liquidated damages. In the third quarter of 2018, the Company decided to halt the development of the EndoDynamix clip applier. We previously recorded a charge to write off assets and released a previously accrued contingent consideration liability. In a pre-trial filing the Plaintiffs claim to seek liquidated damages, as well as additional damages up to $24.8 million. A non-jury trial had been scheduled to take place in the Delaware Chancery Court in December 2020, but was postponed, and is now expected to take place in March and April 2021. The Company has not recorded any expense related to potential damages in connection with this matter because the Company does not believe any potential loss is probable. We expect to defend the claims asserted by the sellers of EndoDynamix, although there can be no assurance that we will prevail in the trial and/or any resulting appeals. On June 17, 2020, our Seoul, South Korea Office was served with a search warrant by the Incheon Customs Office ("ICO") as part of what we believe to be an industry-wide criminal investigation concerning alleged manipulation of transfer pricing and maximum reimbursement pricing. We understand that the period under investigation with respect to CONMED related to 2016-2019. The ICO had previously audited the transfer pricing applied to the majority of our imports into Korea, without any resulting material adjustments. We believed that our transfer pricing was appropriate, on an aggregate basis. In December 2020, we resolved the investigation with an agreement to pay administrative fines amounting to $0.02 million, and an agreement to adjust the transfer price for one discreet product line whose revenues accounted for less than 1% of the aggregate imports during the period in question. The Company now considers the matter closed. We record reserves sufficient to cover probable and estimable losses associated with any such pending claims. We do not expect that the resolution of any pending claims, investigations or reports of alleged misconduct will have a material adverse effect on our financial condition, results of operations or cash flows. There can be no assurance, however, that future claims or investigations, or the costs associated with responding to such claims, investigations or reports of misconduct, especially claims and investigations not covered by insurance, will not have a material adverse effect on our financial condition, results of operations or cash flows.

Acquisition and Other Expense

12 Months Ended

Dec. 31, 2020

Acquisition and Other Expense [Text Block]

Acquisition and Other Expense

Acquisition and other expense for the year ended December 31, consists of the following:


	2020		2019		2018
Plant underutilization costs	$	6,586	$	—	$	—
Manufacturing consolidation costs	3,993		2,858		—
Acquisition and integration costs	2,820		1,335		—
Product rationalization costs - inventory	2,169		—		—
Restructuring costs	1,087		—		—


Acquisition and other expense included in cost of sales	$	16,655	$	4,193	$	—

Restructuring and related costs	$	4,782	$	—	$	—
Product rationalization costs - field inventory	2,095		—		—
Acquisition and integration costs	1,192		13,066		2,372


Acquisition and other expense included in selling and administrative expense	$	8,069	$	13,066	$	2,372

Impairment charges included in research and development expense	$	—	$	—	$	4,212

Debt refinancing costs included in other expense	$	—	$	3,904	$	—

During 2020, we recorded a $6.6 million charge to cost of sales related to plant underutilization due to abnormally low production as a result of decreased sales caused by the COVID-19 pandemic.

During 2020, we incurred $4.0 million in costs related to the consolidation of certain manufacturing operations which were charged to cost of sales. These costs related to winding down operations at certain locations and moving production lines to other facilities. During 2019, we incurred $2.9 million in severance and other costs related to the consolidation of certain manufacturing operations. These costs were charged to cost of sales.

During 2020, we recognized costs for inventory step-up adjustments and other costs related to a previous acquisition of $2.8 million. During 2019, we incurred $1.3 million in costs for inventory adjustments and other costs associated with the acquisition of Buffalo Filter as further described in Note 2. These costs were charged to cost of sales.

During 2020, we performed an analysis of our product lines and determined certain catalog numbers, principally related to capital equipment, would be discontinued and consolidated into existing product offerings. We consequently recorded a $2.2 million charge to cost of sales to write-off inventory of the discontinued products. In addition, we incurred $2.1 million in costs related to the write-off of field inventory used for customer demonstration and evaluation of the discontinued products which we charged to selling and administrative expense.

During 2020, we incurred $1.1 million in restructuring costs related to a voluntary separation arrangement with employees as a result of the COVID-19 pandemic which were charged to cost of sales based on the job function of the affected employees. Substantially all of the costs associated with the voluntary separation arrangement were paid during 2020.

During 2020, we recorded a charge of $3.8 million related to the restructuring of our sales force which was charged to selling and administrative expense. The charges for sales force restructuring consisted primarily of termination payments to Orthopedic distributors made in exchange for ongoing assistance to transition to employee-based sales representatives and severance.

During 2020, we recorded $0.9 million in restructuring charges principally related to a voluntary separation arrangement with employees as a result of the COVID-19 pandemic which were charged to selling and administrative expense based on the nature of the costs and function of the affected employees. Substantially all of the costs associated with the voluntary separation arrangement were paid during the year.

During 2020, 2019 and 2018, we incurred $1.2 million, $13.1 million and $1.3 million in costs associated with the February 11, 2019 acquisition of Buffalo Filter as further described in Note 2 that were included in selling and administrative expense. These costs include investment banking fees, consulting fees, legal fees, severance and integration related costs.

During 2018 we incurred $1.1 million in cost associated with a prior acquisition and were also included in selling and administrative expense. The cost consists of a charge to selling and administrative expense associated with a vacant lease related to the acquisition.

During 2018, we recorded a net charge of $4.2 million to research and development expense mainly associated with the impairment of an in-process research and development asset, net of the release of previously accrued contingent consideration in other current and long-term liabilities, as further described in Note 13.

During 2019, we incurred a $3.6 million charge related to commitment fees paid to certain of our lenders, which provided a financing commitment for the Buffalo Filter acquisition and recorded a loss on the early extinguishment of debt of $0.3 million in conjunction with the sixth amended and restated senior credit agreement as further described in Note 7.

Guarantees

12 Months Ended

Dec. 31, 2020

Guarantees [Abstract]

Guarantees

We provide warranties on certain of our products at the time of sale and sell extended warranties. The standard warranty period for our capital equipment is generally one year and our extended warranties typically vary from one to three years. Liability under service and warranty policies is based upon a review of historical warranty and service claim experience. Adjustments are made to accruals as claim data and historical experience warrant.

Changes in the carrying amount of standard warranties for the year ended December 31, are as follows:


	2020		2019		2018
Balance as of January 1,	$	2,186	$	1,585	$	1,750

Provision for warranties	783		1,699		1,099
Claims made	(1,143)		(1,098)		(1,264)

Balance as of December 31,	$	1,826	$	2,186	$	1,585

Costs associated with extended warranty repairs are recorded as incurred and amounted to $6.1 million, $5.3 million and $4.9 million for the years ended December 31, 2020, 2019 and 2018 respectively.

Fair Value Measurement

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurement

We enter into derivative instruments for risk management purposes only. We operate internationally and, in the normal course of business, are exposed to fluctuations in interest rates, foreign exchange rates and commodity prices. These fluctuations can increase the costs of financing, investing and operating the business. We use forward contracts, a type of derivative instrument, to manage certain foreign currency exposures.

By nature, all financial instruments involve market and credit risks. We enter into forward contracts with major investment grade financial institutions and have policies to monitor the credit risk of those counterparties. While there can be no assurance, we do not anticipate any material non-performance by any of these counterparties.

Foreign Currency Forward Contracts. We hedge forecasted intercompany sales denominated in foreign currencies through the use of forward contracts. We account for these forward contracts as cash flow hedges. To the extent these forward contracts meet hedge accounting criteria, changes in their fair value are not included in current earnings but are included in accumulated other comprehensive loss. These changes in fair value will be recognized into earnings as a component of sales or cost of sales when the forecasted transaction occurs.

We also enter into forward contracts to exchange foreign currencies for United States dollars in order to hedge our currency transaction exposures. These forward contracts settle each month at month-end, at which time we enter into new forward contracts. We have not designated these forward contracts as hedges and have not applied hedge accounting to them.

The following table presents the notional contract amounts for forward contracts outstanding:


		As of
	FASB ASC Topic 815 Designation	December 31, 2020		December 31, 2019
Forward exchange contracts	Cash flow hedge	$	154,504	$	156,818
Forward exchange contracts	Non-designated	42,380		33,867

The remaining time to maturity as of December 31, 2020 is within two years for hedge designated foreign exchange contracts and approximately one month for non-hedge designated forward exchange contracts.

Statement of comprehensive income presentation

Derivatives designated as cash flow hedges

Foreign exchange contracts designated as cash flow hedges had the following effects on accumulated other comprehensive income (loss) and net earnings on our consolidated statements of comprehensive income and our consolidated balance sheets:


	Amount of Gain (Loss) Recognized in AOCI						Consolidated Statements of Comprehensive Income							Amount of Gain (Loss) Reclassified from AOCI
	Years Ended							Total Amount of Line Item Presented						Years Ended
Derivative Instrument	2020		2019		2018		Location of amount reclassified	2020		2019		2018		2020		2019		2018

Foreign exchange contracts	$	(7,111)	$	3,871	$	10,073	Net Sales	$	862,459	$	955,097	$	859,634	$	1,997	$	7,969	$	(1,278)
							Cost of Sales	402,159		430,382		390,524		(619)		638		365
Pre-tax gain (loss)	$	(7,111)	$	3,871	$	10,073								$	1,378	$	8,607	$	(913)
Tax expense (benefit)	(1,718)		935		2,434									333		2,079		(221)
Net gain (loss)	$	(5,393)	$	2,936	$	7,639								$	1,045	$	6,528	$	(692)

At December 31, 2020, $5.6 million of net unrealized losses on forward contracts accounted for as cash flow hedges, and included in accumulated other comprehensive loss, are expected to be recognized in earnings in the next twelve months.

Derivatives not designated as cash flow hedges

Net gains and losses from derivative instruments not accounted for as hedges offset by gains and losses on our intercompany receivables on our consolidated statements of comprehensive income were:


		Years Ended
Derivative Instrument	Location on Consolidated Statements of Comprehensive Income	2020		2019		2018

Net gain (loss) on currency forward contracts	Selling and administrative expense	$	(2,269)	$	(573)	$	69
Net gain (loss) on currency transaction exposures	Selling and administrative expense	$	646	$	(653)	$	(804)

Balance sheet presentation

We record these forward foreign exchange contracts at fair value; the following tables summarize the fair value for forward foreign exchange contracts outstanding at December 31, 2020 and 2019:


December 31, 2020	Location on Consolidated Balance Sheet	Asset Fair Value		Liabilities Fair Value		Net Fair Value
Derivatives designated as hedging instruments:
Foreign exchange contracts	Other current liabilities	$	1,500	$	(8,826)	$	(7,326)
Foreign exchange contracts	Other long-term liabilities	23		(535)		(512)
		$	1,523	$	(9,361)	$	(7,838)

Derivatives not designated as hedging instruments:
Foreign exchange contracts	Other current liabilities	25		(150)		(125)

Total derivatives		$	1,548	$	(9,511)	$	(7,963)


December 31, 2019	Location on Consolidated Balance Sheet	Asset Fair Value		Liabilities Fair Value		Net Fair Value
Derivatives designated as hedging instruments:
Foreign exchange contracts	Prepaids and other current assets	$	2,307	$	(1,341)	$	966
Foreign exchange contracts	Other long-term liabilities	38		(353)		(315)
		$	2,345	$	(1,694)	$	651

Derivatives not designated as hedging instruments:
Foreign exchange contracts	Other current liabilities	22		(159)		(137)

Total derivatives		$	2,367	$	(1,853)	$	514

Our forward foreign exchange contracts are subject to a master netting agreement and qualify for netting in the consolidated balance sheets.

Fair Value Disclosure. FASB guidance defines fair value and establishes a framework for measuring fair value and related disclosure requirements. This guidance applies when fair value measurements are required or permitted. The guidance indicates, among other things, that a fair value measurement assumes that the transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. Fair value is defined based upon an exit price model.

Valuation Hierarchy. A valuation hierarchy was established for disclosure of the inputs to the valuations used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from or corroborated by observable market data through correlation. Level 3 inputs are unobservable inputs based on our own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. There have been no significant changes in the assumptions.

Valuation Techniques. Assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2020 consist of forward foreign exchange contracts. The Company values its forward foreign exchange contracts

using quoted prices for similar assets. The most significant assumption is quoted currency rates. The value of the forward foreign exchange contract assets and liabilities were valued using Level 2 inputs and are listed in the table above.

The carrying amounts reported in our balance sheets for cash and cash equivalents, accounts receivable, accounts payable and long-term debt approximate fair value.

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Dec. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles	New Accounting Pronouncements Recently Adopted Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), along with amendments issued in 2017 and 2018. The Company adopted the new standard on January 1, 2019, and applied the modified retrospective approach along with the package of transition practical expedients. This ASU requires lessees to record leases on their balance sheets but recognize the expenses on their income statements in a manner similar to prior practice. ASU 2016-02 states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term. This update did not have a material impact on our net income, earnings per share or cash flows. Refer to Note 5 for further detail on leases. In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, along with subsequent amendments issued in 2019. This ASU requires instruments measured at amortized cost, including accounts receivable, to be presented at the net amount expected to be collected. The new model requires an entity to estimate credit losses based on historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments. This ASU is effective for fiscal years beginning after December 31, 2019 and the Company adopted the new standard on January 1, 2020. We adopted this ASU by applying historical loss rates to our accounts receivable aging schedule to estimate expected credit losses. We further adjusted expected credit losses for specifically identified and forecasted credit losses. This update did not have a material impact on our net income, earnings per share or cash flows. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements on fair value measurements. This ASU is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. We adopted this update as of January 1, 2020 and it did not have a material impact on our net income, earnings per share or cash flows. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Topic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans, which modifies the disclosure requirements for defined benefit pension plans and other postretirement plans. This ASU is effective for fiscal years ending after December 15, 2020 and the Company adopted this ASU as of December 31, 2020 by including the required disclosures in the employee benefit plans footnote. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which results in the removal of certain exceptions to the general principles of ASC 740 and simplifies other aspects of the accounting for income taxes. This ASU is effective for fiscal years beginning after December 15, 2020 and early adoption is permitted in any interim period. We early adopted this new guidance effective April 1, 2020 and it did not have a material impact on the consolidated financial statements. Recently Issued Accounting Standards, Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance if certain criteria are met for entities that have contracts, hedging relationships, and other transactions that reference LIBOR or other reference rates expected to be discontinued as a result of reference rate reform. This ASU is effective as of March 12, 2020 through December 31, 2022. The Company has not adopted the ASU as of December 31, 2020, however will continue to monitor the impact of reference rates and will elect to apply this guidance in our consolidated financial statements in the event that we are impacted by reference rate reform. In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for convertible instruments by removing certain separation models requiring separate accounting for embedded conversion features which will result in more convertible debt instruments accounted for as a single liability. The ASU eliminates certain settlement conditions that are required for equity classification to qualify for the derivative scope exception. The ASU addresses how convertible instruments are accounted for in the calculation of diluted earnings per share by using the if-converted method. The ASU is effective for fiscal years beginning after December 15, 2021, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. The Company is currently assessing the impact of this guidance on our consolidated financial statements.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Selected Quarterly Financial Data (Unaudited)

Selected quarterly financial data for 2020 and 2019 are as follows:


	Three Months Ended
	March(1)		June(2)		September(3)		December(4)
2020
Net sales	$	214,010	$	157,785	$	237,835	$	252,828
Gross profit	119,159		71,929		133,698		135,514
Net income (loss)	5,927		(27,400)		6,850		24,140
EPS:
Basic	$	0.21	$	(0.96)	$	0.24	$	0.84
Diluted	0.20		$	(0.96)	$	0.23	$	0.81


	Three Months Ended
	March(5)		June(6)		September(7)		December(8)
2019
Net sales	$	218,378	$	238,263	$	233,590	$	264,865
Gross profit	121,438		131,190		130,111		141,975
Net income	1,021		5,695		6,970		14,933
EPS:
Basic	$	0.04	$	0.20	$	0.25	$	0.53
Diluted	$	0.04	$	0.19	$	0.23	$	0.49

The data in the above schedules has been intentionally rounded, and therefore, the quarterly amounts may not sum to the fiscal year to date amounts.

Items Included In Selected Quarterly Financial Data:

(1)The first quarter of 2020 includes pre-tax manufacturing consolidation costs of $1.8 million and acquisition and integration costs of $1.6 million.

(2)The second quarter of 2020 includes pre-tax plant underutilization costs of $6.6 million, product rationalization costs of $4.3 million, restructuring and related costs of $3.2 million, manufacturing consolidation costs of $1.6 million and acquisition and integration costs of $1.1 million.

(3)The third quarter of 2020 includes pre-tax restructuring and related costs of $1.0 million, acquisition and integration costs of $0.8 million and manufacturing consolidation costs of $0.6 million.

(4)The fourth quarter of 2020 includes pre-tax restructuring and related costs of $1.6 million and acquisition and integration costs of $0.6 million. In the fourth quarter of 2020, our average share price exceeded the conversion price of our 2.625% convertible notes due in 2024 (the "Notes") and we included 0.2 million shares assumed to be issued if the Notes were converted in our diluted share count for the computation of diluted earnings per share.

(5)The first quarter of 2019 includes pre-tax business acquisition costs of $7.9 million and debt refinancing costs of $3.9 million.

(6)The second quarter of 2019 includes pre-tax acquisition and integration costs of $3.0 million.

(7)The third quarter of 2019 includes pre-tax acquisition and integration costs of $1.7 million and manufacturing consolidation costs of $1.4 million. In the third quarter of 2019, our average share price exceeded the conversation price of our 2.625% convertible notes due in 2024 (the "Notes") and we included 0.2 million shares assumed to be issued if the Notes were converted in our diluted share count for the computation of diluted earnings per share.

(8)The fourth quarter of 2019 includes pre-tax acquisition and integration costs of $1.9 million and manufacturing consolidation costs of $1.4 million. In the fourth quarter of 2020, our average share price exceeded the conversion price of our 2.625% convertible notes due in 2024 (the "Notes") and we included 0.6 million shares assumed to be issued if the Notes were converted in our diluted share count for the computation of diluted earnings per share.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

SCHEDULE II—Valuation and Qualifying Accounts

(In thousands)




			Additions
	Balance at Beginning of Period		Charged to Costs and Expenses
							Balance at End of Period
Description					Deductions
2020
Allowance for bad debts	$	2,786	$	1,611	$	(521)	$	3,876
Sales returns and
allowance	3,667		384		(367)		3,684
Deferred tax asset
valuation allowance	1,732		989		—		2,721


2019
Allowance for bad debts	$	2,660	$	852	$	(726)	$	2,786
Sales returns and
allowance	3,246		518		(97)		3,667
Deferred tax asset
valuation allowance	1,159		573		—		1,732


2018
Allowance for bad debts	$	2,137	$	1,485	$	(962)	$	2,660
Sales returns and
allowance	2,219		1,050		(23)		3,246
Deferred tax asset
valuation allowance	570		589		—		1,159

Operations and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles of consolidation

The consolidated financial statements include the accounts of CONMED Corporation and its controlled subsidiaries. All significant intercompany accounts and transactions have been eliminated.

Use of estimates

Cash and cash equivalents

We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents.

Inventories

Inventories are valued at the lower of cost and net realizable value determined on the FIFO (first-in, first-out) cost method.

Property, plant and equipment

Property, plant and equipment are stated at cost and depreciated using the straight-line method over the following estimated useful lives:


			Building and improvements			12 to 40 years
			Leasehold improvements			Shorter of life of asset or life of lease
			Machinery and equipment			2 to 15 years

Lessee, Leases

Leases

Lessor, Leases

Goodwill and other intangible assets

Other long-lived assets

Translation of foreign currency financial statements

Foreign exchange and hedging activity

Income taxes

Revenue recognition

•Revenue is recognized when product is shipped at which point the performance obligation is satisfied and the customer obtains control of the product.

•We sell to a diversified base of customers around the world and, therefore, believe there is no material concentration of credit risk.

Earnings per share

Earnings per shareBasic earnings per share (“basic EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares outstanding resulting from employee stock options, restricted stock units, performance share units and stock appreciation rights during the period.

Organization, Consolidation and Presentation of Financial Statements [Abstract]

New Accounting Pronouncements New Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements Recently Adopted Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), along with amendments issued in 2017 and 2018. The Company adopted the new standard on January 1, 2019, and applied the modified retrospective approach along with the package of transition practical expedients. This ASU requires lessees to record leases on their balance sheets but recognize the expenses on their income statements in a manner similar to prior practice. ASU 2016-02 states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term. This update did not have a material impact on our net income, earnings per share or cash flows. Refer to Note 5 for further detail on leases. In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, along with subsequent amendments issued in 2019. This ASU requires instruments measured at amortized cost, including accounts receivable, to be presented at the net amount expected to be collected. The new model requires an entity to estimate credit losses based on historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments. This ASU is effective for fiscal years beginning after December 31, 2019 and the Company adopted the new standard on January 1, 2020. We adopted this ASU by applying historical loss rates to our accounts receivable aging schedule to estimate expected credit losses. We further adjusted expected credit losses for specifically identified and forecasted credit losses. This update did not have a material impact on our net income, earnings per share or cash flows. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements on fair value measurements. This ASU is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. We adopted this update as of January 1, 2020 and it did not have a material impact on our net income, earnings per share or cash flows. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Topic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans, which modifies the disclosure requirements for defined benefit pension plans and other postretirement plans. This ASU is effective for fiscal years ending after December 15, 2020 and the Company adopted this ASU as of December 31, 2020 by including the required disclosures in the employee benefit plans footnote. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which results in the removal of certain exceptions to the general principles of ASC 740 and simplifies other aspects of the accounting for income taxes. This ASU is effective for fiscal years beginning after December 15, 2020 and early adoption is permitted in any interim period. We early adopted this new guidance effective April 1, 2020 and it did not have a material impact on the consolidated financial statements. Recently Issued Accounting Standards, Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance if certain criteria are met for entities that have contracts, hedging relationships, and other transactions that reference LIBOR or other reference rates expected to be discontinued as a result of reference rate reform. This ASU is effective as of March 12, 2020 through December 31, 2022. The Company has not adopted the ASU as of December 31, 2020, however will continue to monitor the impact of reference rates and will elect to apply this guidance in our consolidated financial statements in the event that we are impacted by reference rate reform. In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for convertible instruments by removing certain separation models requiring separate accounting for embedded conversion features which will result in more convertible debt instruments accounted for as a single liability. The ASU eliminates certain settlement conditions that are required for equity classification to qualify for the derivative scope exception. The ASU addresses how convertible instruments are accounted for in the calculation of diluted earnings per share by using the if-converted method. The ASU is effective for fiscal years beginning after December 15, 2021, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. The Company is currently assessing the impact of this guidance on our consolidated financial statements.

Operations and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of property plant and equipment useful life

Property, plant and equipment are stated at cost and depreciated using the straight-line method over the following estimated useful lives:


			Building and improvements			12 to 40 years
			Leasehold improvements			Shorter of life of asset or life of lease
			Machinery and equipment			2 to 15 years

Schedule of calculation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings per share at December 31, 2020, 2019 and 2018, respectively:


	2020		2019		2018

Net income	$	9,517	$	28,620	$	40,854

Basic-weighted average shares outstanding	28,581		28,325		28,118

Effect of dilutive potential securities	883		1,170		772

Diluted-weighted average shares outstanding	29,464		29,495		28,890

Net income (per share)
Basic	$	0.33	$	1.01	$	1.45
Diluted	0.32		0.97		1.41

Schedule of accumulated other comprehensive loss

Accumulated other comprehensive loss consists of the following:


	Cash Flow Hedging Gain (Loss)		Pension Liability		Foreign Currency Translation Adjustments		Accumulated Other Comprehensive Loss

Balance, December 31, 2017	$	(3,530)	$	(25,813)	$	(19,735)	$	(49,078)

Other comprehensive income (loss) before reclassifications, net of tax	7,639		(2,711)		(8,369)		(3,441)
Amounts reclassified from accumulated other comprehensive income before tax(a)	913		2,689		—		3,602
Income tax	(221)		(650)		—		(871)

Net current-period other comprehensive income (loss)	8,331		(672)		(8,369)		(710)

Cumulative effect of change in accounting principle(b)	(716)		(5,233)		—		(5,949)

Balance, December 31, 2018	$	4,085	$	(31,718)	$	(28,104)	$	(55,737)

Other comprehensive income (loss) before reclassifications, net of tax	2,936		(2,158)		25		803
Amounts reclassified from accumulated other comprehensive income (loss) before tax(a)	(8,607)		2,881		—		(5,726)
Income tax	2,079		(696)		—		1,383

Net current-period other comprehensive income (loss)	(3,592)		27		25		(3,540)

Balance, December 31, 2019	$	493	$	(31,691)	$	(28,079)	$	(59,277)

Other comprehensive income (loss) before reclassifications, net of tax	(5,393)		(7,068)		6,963		(5,498)
Amounts reclassified from accumulated other comprehensive income (loss) before tax(a)	(1,378)		2,821		—		1,443
Income tax	333		(682)		—		(349)

Net current-period other comprehensive income (loss)	(6,438)		(4,929)		6,963		(4,404)

Balance, December 31, 2020	$	(5,945)	$	(36,620)	$	(21,116)	$	(63,681)

Business Acqusition Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as a result of the Buffalo Filter Acquisition.


Cash	$	119
Accounts receivable	4,587
Inventory	4,582
Other current assets	146
Current assets	9,434
Property, plant & equipment	4,036
Deferred income taxes	80
Goodwill	215,793
Customer relationships	124,000
Developed technology	9,000
Trademarks & tradenames	7,000
Other non-current assets	166
Total assets acquired	$	369,509

Current liabilities assumed	4,462


Total liabilities assumed	4,462
Net assets acquired	$	365,047

Business Acquisition, Pro Forma Information


	2019		2018
Net sales	$	960,115	$	898,545
Net income	44,361		10,407

Inventories (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Schedule of inventory

Inventories consist of the following at December 31:


	2020		2019
Raw materials	$	71,807	$	51,103
Work in process	15,864		15,142
Finished goods	107,197		98,371
	$	194,868	$	164,616

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment

Property, plant and equipment consist of the following at December 31:


	2020		2019
Land	$	4,027	$	4,686
Building and improvements	93,886		95,632
Machinery and equipment	243,810		233,140
Construction in progress	15,680		13,318
	357,403		346,776
Less: Accumulated depreciation	(245,996)		(227,893)
	$	111,407	$	118,883

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease, Cost [Table Text Block]

Lease costs for the year ended December 31, consist of the following:


	2020		2019
Operating lease cost:
Straight-line lease cost	$	7,255	$	7,780
Right-of-use asset impairment cost	—		312
Total operating lease cost	7,255		8,092
Finance lease cost:
Depreciation	355		238
Interest on lease liabilities	33		27
Total finance lease cost	388		265
Total lease cost	$	7,643	$	8,357

Supplemental Balance Sheet Information Related to Leases [Table Text Block]

Supplemental balance sheet information related to leases as of December 31, is as follows:


	2020			2019
Operating leases
Other assets (net of lease impairment of $1,001 at December 31, 2019)	$	21,659		$	23,099

Other current liabilities	$	7,469		$	7,268
Other long-term liabilities	14,756			17,096
Total operating lease liabilities	$	22,225		$	24,364

Finance leases
Property, plant and equipment, gross	$	1,762		$	1,684
Accumulated depreciation	(825)			(479)
Property, plant and equipment, net	$	937		$	1,205

Current portion of long-term debt	$	197		$	346
Long-term debt	390			490
Total finance lease liabilities	$	587		$	836


Weighted average remaining lease term (in years)
Operating leases	3.76 years			4.43 years
Finance leases	3.22 years			3.61 years

Weighted average discount rate
Operating leases	5.00		%	4.84		%
Finance leases	4.93		%	4.70		%

Supplemental Cash Flow Information Related to Leases [Table Text Block]

Supplemental cash flow information related to leases for the year ended December 31, was as follows:


	2020		2019

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,535	$	8,459
Financing cash flows from finance leases	373		380

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	4,242		12,800
Finance leases	76		563

Operating Lease, Liability, Maturity

Maturities of lease liabilities as of December 31, 2020 are as follows:


	Finance Lease		Operating Lease

2021	$	197	$	7,469
2022	254		6,792
2023	129		4,922
2024	38		3,676
2025	2		998
Thereafter	—		726
Total lease payments	620		24,583

Less imputed interest	(33)		(2,358)

Total lease liabilities	$	587	$	22,225

Finance Lease, Liability, Maturity

Maturities of lease liabilities as of December 31, 2020 are as follows:


	Finance Lease		Operating Lease

2021	$	197	$	7,469
2022	254		6,792
2023	129		4,922
2024	38		3,676
2025	2		998
Thereafter	—		726
Total lease payments	620		24,583

Less imputed interest	(33)		(2,358)

Total lease liabilities	$	587	$	22,225

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the net carrying amount of goodwill for the years ended December 31, are as follows:


	2020		2019
Balance as of January 1,	$	618,042	$	400,440

Goodwill resulting from business combinations	—		217,482

Goodwill adjustment resulting from business combinations	(1,009)		—

Foreign currency translation	1,407		120

Balance as of December 31,	$	618,440	$	618,042

Schedule of Estimated Amortization Expense

The estimated amortization expense related to intangible assets at December 31, 2020 and for each of the five succeeding years is as follows:


	Amortization included in expense		Amortization recorded as a reduction of revenue		Total
2021	$	27,535	$	6,000	$	33,535
2022	26,377		6,000		32,377
2023	25,609		6,000		31,609
2024	24,794		6,000		30,794
2025	25,046		6,000		31,046

Schedule of Finite-Lived Intangible Assets

Other intangible assets consist of the following:


	December 31, 2020					December 31, 2019
	Weighted Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Intangible assets with definite lives:

Customer and distributor relationships	24	$	342,639	$	(134,555)	$	342,568	$	(115,311)

Sales representation, marketing and promotional rights	25	149,376		(54,000)		149,376		(48,000)

Patents and other intangible assets	15	73,516		(48,882)		70,646		(46,456)

Developed technology	16	106,604		(19,705)		106,604		(13,171)

Intangible assets with indefinite lives:

Trademarks and tradenames		86,544		—		86,544		—

	22	$	758,679	$	(257,142)	$	755,738	$	(222,938)

Schedule of Indefinite-Lived Intangible Assets

Other intangible assets consist of the following:


	December 31, 2020					December 31, 2019
	Weighted Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Intangible assets with definite lives:

Customer and distributor relationships	24	$	342,639	$	(134,555)	$	342,568	$	(115,311)

Sales representation, marketing and promotional rights	25	149,376		(54,000)		149,376		(48,000)

Patents and other intangible assets	15	73,516		(48,882)		70,646		(46,456)

Developed technology	16	106,604		(19,705)		106,604		(13,171)

Intangible assets with indefinite lives:

Trademarks and tradenames		86,544		—		86,544		—

	22	$	758,679	$	(257,142)	$	755,738	$	(222,938)

Long Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consists of the following at December 31:


	2020		2019
Revolving line of credit	$	207,000	$	220,000
Term loan, net of deferred debt issuance costs of $1,668 and $1,528 in 2020 and 2019, respectively	240,145		253,535
2.625% convertible notes, net of deferred debt issuance costs of $5,475 and $7,252 in 2020 and 2019, respectively, and unamortized discount of $33,620 and $43,312 in 2020 and 2019, respectively	305,904		294,436
Financing leases	587		836
Total debt	753,636		768,807
Less: Current portion	18,415		13,596
Total long-term debt	$	735,221	$	755,211

Schedule of Maturities of Long-term Debt

The scheduled maturities of long-term debt outstanding at December 31, 2020 are as follows:


2021	$	18,219
2022	24,843
2023	405,750
2024	345,000
2025	—
Thereafter	—

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Schedule of Provision for Income Taxes

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

The provision (benefit) for income taxes for the years ended December 31, 2020, 2019 and 2018 consists of the following:


	2020		2019		2018
Current tax expense (benefit):
Federal	$	(729)	$	96	$	(1,077)
State	86		444		777
Foreign	6,963		8,375		8,036
	6,320		8,915		7,736
Deferred income tax expense (benefit):
Federal	(12,253)		(3,970)		4,478
State	(1,173)		(938)		62
Foreign	(808)		(1,402)		(2,477)
	(14,234)		(6,310)		2,063

Provision (benefit) for income taxes	$	(7,914)	$	2,605	$	9,799

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation between income taxes computed at the statutory federal rate and the provision (benefit) for income taxes for the years ended December 31, 2020, 2019 and 2018 follows:


	2020		2019		2018
Tax provision at statutory rate based on income before income taxes	21.0	%	21.0	%	21.0	%

Stock-based compensation	(267.7)		(15.4)		(1.6)

Settlement of taxing authority examinations	(122.9)		(7.7)		(0.7)

Federal research credit	(124.2)		(4.0)		(2.8)

Tax treaty protocols	—		(2.9)		—

US tax on worldwide earnings at different rates	(123.7)		7.9		2.9

Foreign income taxes	129.6		6.4		3.6

Non deductible/non-taxable items	28.6		2.8		(1.4)

State income taxes, net of federal tax benefit	(24.5)		0.3		1.6

International tax reform	—		—		(3.6)

US tax reform	—		—		1.8



Other, net	(10.1)		(0.1)		(1.5)

	(493.9)	%	8.3	%	19.3	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of the significant temporary differences which comprise the deferred income tax assets and liabilities at December 31, 2020 and 2019 are as follows:


	2020		2019
Assets:
Inventory	$	4,649	$	4,085
Net operating losses	22,197		3,679
Capitalized research and development	5,187		6,201
Deferred compensation	2,240		2,102
Accounts receivable	2,784		2,556
Compensation and benefits	7,540		6,049
Accrued pension	5,348		3,710
Research and development credit	13,540		10,321
Interest limitation	—		5,702
Convertible notes hedge	6,999		9,004
Lease liabilities	4,452		5,688
Other	6,793		4,336
Less: valuation allowances	(2,721)		(1,732)
	79,008		61,701

Liabilities:
Goodwill and intangible assets	104,119		102,015
Depreciation	2,512		301
State taxes	9,614		11,161
Unremitted foreign earnings	2,423		2,619
Convertible notes debt discount	7,060		9,096
Lease right-of-use assets	4,313		5,338

	130,041		130,530

Net liability	$	(51,033)	$	(68,829)

Schedule of Income before Income Tax

Income before income taxes consists of the following U.S. and foreign income:


	2020		2019		2018
U.S. income	$	(16,026)	$	5,332	$	24,320
Foreign income	17,629		25,893		26,333
Total income	$	1,603	$	31,225	$	50,653

Schedule of Unrecognized Tax Benefits Rollforward

The following table summarizes the activity related to our unrecognized tax benefits for the years ending December 31,:


	2020		2019		2018
Balance as of January 1,	$	2,170	$	3,073	$	2,943

Increases (decreases) for positions taken in prior periods	—		—		(250)

Increases for positions taken in current periods	—		1,650		1,017

Decreases in unrecorded tax positions related to settlement with the taxing authorities	(1,970)		(2,404)		(370)

Decreases in unrecorded tax positions related to lapse of statute of limitations	—		(149)		(267)

Balance as of December 31,	$	200	$	2,170	$	3,073

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stock Options and Stock Appreciation Rights (SARs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Valuation Assumptions

The following table illustrates the assumptions used in estimating fair value in the years ended December 31, 2020, 2019 and 2018:


	2020			2019			2018
Grant date fair value of stock options and SARs	$	22.62		$	20.59		$	14.78
Expected stock price volatility	26.89		%	26.59		%	25.69		%
Risk-free interest rate	0.89		%	2.58		%	2.62		%
Expected annual dividend yield	0.82		%	1.08		%	1.34		%
Expected life of options & SARs (years)	5.5			5.6			5.7

Schedule of stock option and SAR activity

The following table illustrates the stock option and SAR activity for the year ended December 31, 2020:


	Number of Shares (in 000’s)	Weighted- Average Exercise Price
Outstanding at December 31, 2019	3,253	$	55.97

Granted	859	$	95.84
Forfeited	(250)	$	72.81
Exercised	(526)	$	45.07

Outstanding at December 31, 2020	3,336	$	66.76
Exercisable at December 31, 2020	1,199	$	52.18
Stock options & SARs expected to vest	2,137	$	74.94

Restricted Stock Units (RSUs) and Performance Share Units (PSUs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of RSU and PSU activity

The following table illustrates the RSU and PSU activity for the year ended December 31, 2020:


	Number of Shares (in 000’s)	Weighted- Average Grant-Date Fair Value
Outstanding at December 31, 2019	169	$	48.94

Granted	37	$	85.45
Vested	(140)	$	43.99
Forfeited	(5)	$	79.30

Outstanding at December 31, 2020	61	$	77.03

Revenues (Tables)

12 Months Ended

Dec. 31, 2020

Revenues [Abstract]

Disaggregation of Revenue

The following tables present revenue disaggregated by product line and timing of revenue recognition for the years ended December 31, 2020, 2019 and 2018:


	2020
	Orthopedic Surgery		General Surgery		Total
Timing of Revenue Recognition
Goods transferred at a point in time	$	340,318	$	484,147	$	824,465
Services transferred over time	34,387		3,607		37,994
Total sales from contracts with customers	$	374,705	$	487,754	$	862,459


	2019
	Orthopedic Surgery		General Surgery		Total
Timing of Revenue Recognition
Goods transferred at a point in time	$	426,893	$	489,313	$	916,206
Services transferred over time	36,429		2,462		38,891
Total sales from contracts with customers	$	463,322	$	491,775	$	955,097


	2018
	Orthopedic Surgery		General Surgery		Total
Timing of Revenue Recognition
Goods transferred at a point in time	$	413,630	$	411,391	$	825,021
Services transferred over time	33,098		1,515		34,613
Total sales from contracts with customers	$	446,728	$	412,906	$	859,634

Contract with Customer, Asset and Liability

Contract liability balances related to the sale of extended warranties to customers are as follows:


	December 31, 2020		December 31, 2019

Contract Liability	$	13,666	$	14,276

Business Segments and Geographic Areas (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Revenue from External Customers by Geographic Areas and Product Line

These product lines' net sales and primary geographic market where the products are sold, are as follows for the years ended December 31, 2020, 2019 and 2018:


	2020
	Orthopedic Surgery		General Surgery		Total
Primary Geographic Markets
United States	$	139,715	$	342,349	$	482,064
Americas (excluding the United States)	50,356		28,358		78,714
Europe, Middle East & Africa	90,998		70,086		161,084
Asia Pacific	93,636		46,961		140,597
Total sales from contracts with customers	$	374,705	$	487,754	$	862,459


	2019
	Orthopedic Surgery		General Surgery		Total
Primary Geographic Markets
United States	$	179,419	$	337,246	$	516,665
Americas (excluding the United States)	64,269		31,004		95,273
Europe, Middle East & Africa	118,301		64,248		182,549
Asia Pacific	101,333		59,277		160,610
Total sales from contracts with customers	$	463,322	$	491,775	$	955,097


	2018
	Orthopedic Surgery		General Surgery		Total
Primary Geographic Markets
United States	$	172,462	$	276,186	$	448,648
Americas (excluding the United States)	66,519		31,009		97,528
Europe, Middle East & Africa	112,998		53,565		166,563
Asia Pacific	94,749		52,146		146,895
Total sales from contracts with customers	$	446,728	$	412,906	$	859,634

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Schedule of reconciliation of the projected benefit obligation, plan assets and funded status of the pension plan

The following table provides a reconciliation of the projected benefit obligation, plan assets and funded status of the pension plan at December 31:


	2020		2019
Accumulated benefit obligation	$	101,242	$	92,052

Change in benefit obligation
Projected benefit obligation at beginning of year	$	92,052	$	80,776
Service cost	717		1,010
Interest cost	2,555		3,130
Actuarial loss	10,963		10,561
Benefits paid	(1,933)		(2,299)
Settlements	(3,112)		(1,126)
Projected benefit obligation at end of year	$	101,242	$	92,052

Change in plan assets
Fair value of plan assets at beginning of year	$	75,321	$	66,307
Actual gain (loss) on plan assets	6,664		12,439
Benefits paid	(1,933)		(2,299)
Settlements	(3,112)		(1,126)
Fair value of plan assets at end of year	$	76,940	$	75,321

Funded status	$	(24,302)	$	(16,731)

Schedule of amounts recognized in the consolidated balance sheets

Amounts recognized in the consolidated balance sheets consist of the following at December 31,:


	2020		2019
Other long-term liabilities	$	(24,302)	$	(16,731)
Accumulated other comprehensive loss	(48,285)		(41,787)

Schedule of actuarial assumptions used

The following actuarial assumptions were used to determine our accumulated and projected benefit obligations as of December 31,:


	2020		2019
Discount rate	2.44	%	3.33	%

The following actuarial assumptions were used to determine our net periodic pension benefit cost for the years ended December 31,:


	2020		2019		2018
Discount rate on benefit obligation	3.33	%	4.37	%	3.69	%
Effective rate for interest on benefit obligation	2.88	%	4.01	%	3.28	%
Expected return on plan assets	7.00	%	7.50	%	7.50	%

Schedule of plan assets and benefit obligations recognized in other comprehensive income

Other changes in plan assets and benefit obligations recognized in other comprehensive income in 2020 and 2019 are as follows:


	2020		2019
Current year actuarial loss	$	(9,319)	$	(2,846)
Amortization of actuarial loss	2,821		2,881
Total recognized in other comprehensive loss	$	(6,498)	$	35

Schedule of net benefit cost

Net periodic pension cost for the years ended December 31, consists of the following:


	2020		2019		2018
Service cost	$	717	$	1,010	$	675
Interest cost on projected benefit obligation	2,555		3,130		2,806
Expected return on plan assets	(5,021)		(4,725)		(5,418)
Amortization of loss	2,821		2,881		2,689

Net periodic pension cost	$	1,072	$	2,296	$	752

Schedule of allocation of plan assets

The allocation of plan assets by category is as follows at December 31,:


	Percentage of Pension Plan Assets				Target Allocation
	2020		2019		2021
Equity securities	76	%	74	%	75	%
Debt securities	24	%	26	%	25	%
Total	100	%	100	%	100	%

The following table sets forth the value of the pension plan's assets as of December 31, 2020 and December 31, 2019:


	2020		2019
Investments measured at fair value:
Level 1
Common Stock	$	9,185	$	8,307
Fixed Income Securities	17,848		18,609
Total Investments measured at fair value	27,033		26,916

Investments measured at NAV:
Money Market Fund	915		789
Mutual Funds	48,992		47,616
Total Investments measured at NAV	49,907		48,405

Total Investments	$	76,940	$	75,321

Schedule of expected benefit payments


2021			$5,579
2022			6,275
2023			5,944
2024			5,545
2025			5,815
2026-2030			26,944

Acquisition and Other Expense (Tables)

12 Months Ended

Dec. 31, 2020

Acquisition and Other Expense [Abstract]

Schedule of Acquisition and Other Operating Expense

Acquisition and other expense for the year ended December 31, consists of the following:


	2020		2019		2018
Plant underutilization costs	$	6,586	$	—	$	—
Manufacturing consolidation costs	3,993		2,858		—
Acquisition and integration costs	2,820		1,335		—
Product rationalization costs - inventory	2,169		—		—
Restructuring costs	1,087		—		—


Acquisition and other expense included in cost of sales	$	16,655	$	4,193	$	—

Restructuring and related costs	$	4,782	$	—	$	—
Product rationalization costs - field inventory	2,095		—		—
Acquisition and integration costs	1,192		13,066		2,372


Acquisition and other expense included in selling and administrative expense	$	8,069	$	13,066	$	2,372

Impairment charges included in research and development expense	$	—	$	—	$	4,212

Debt refinancing costs included in other expense	$	—	$	3,904	$	—

Guarantees (Tables)

12 Months Ended

Dec. 31, 2020

Guarantees [Abstract]

Changes in the carrying amount of service and product warranties

Changes in the carrying amount of standard warranties for the year ended December 31, are as follows:


	2020		2019		2018
Balance as of January 1,	$	2,186	$	1,585	$	1,750

Provision for warranties	783		1,699		1,099
Claims made	(1,143)		(1,098)		(1,264)

Balance as of December 31,	$	1,826	$	2,186	$	1,585

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

The following table presents the notional contract amounts for forward contracts outstanding:


		As of
	FASB ASC Topic 815 Designation	December 31, 2020		December 31, 2019
Forward exchange contracts	Cash flow hedge	$	154,504	$	156,818
Forward exchange contracts	Non-designated	42,380		33,867

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]


	Amount of Gain (Loss) Recognized in AOCI						Consolidated Statements of Comprehensive Income							Amount of Gain (Loss) Reclassified from AOCI
	Years Ended							Total Amount of Line Item Presented						Years Ended
Derivative Instrument	2020		2019		2018		Location of amount reclassified	2020		2019		2018		2020		2019		2018

Foreign exchange contracts	$	(7,111)	$	3,871	$	10,073	Net Sales	$	862,459	$	955,097	$	859,634	$	1,997	$	7,969	$	(1,278)
							Cost of Sales	402,159		430,382		390,524		(619)		638		365
Pre-tax gain (loss)	$	(7,111)	$	3,871	$	10,073								$	1,378	$	8,607	$	(913)
Tax expense (benefit)	(1,718)		935		2,434									333		2,079		(221)
Net gain (loss)	$	(5,393)	$	2,936	$	7,639								$	1,045	$	6,528	$	(692)

Derivatives Not Designated as Hedging Instruments [Table Text Block]

Net gains and losses from derivative instruments not accounted for as hedges offset by gains and losses on our intercompany receivables on our consolidated statements of comprehensive income were:


		Years Ended
Derivative Instrument	Location on Consolidated Statements of Comprehensive Income	2020		2019		2018

Net gain (loss) on currency forward contracts	Selling and administrative expense	$	(2,269)	$	(573)	$	69
Net gain (loss) on currency transaction exposures	Selling and administrative expense	$	646	$	(653)	$	(804)

Schedule of fair value for forward foreign exchange contracts

We record these forward foreign exchange contracts at fair value; the following tables summarize the fair value for forward foreign exchange contracts outstanding at December 31, 2020 and 2019:


December 31, 2020	Location on Consolidated Balance Sheet	Asset Fair Value		Liabilities Fair Value		Net Fair Value
Derivatives designated as hedging instruments:
Foreign exchange contracts	Other current liabilities	$	1,500	$	(8,826)	$	(7,326)
Foreign exchange contracts	Other long-term liabilities	23		(535)		(512)
		$	1,523	$	(9,361)	$	(7,838)

Derivatives not designated as hedging instruments:
Foreign exchange contracts	Other current liabilities	25		(150)		(125)

Total derivatives		$	1,548	$	(9,511)	$	(7,963)


December 31, 2019	Location on Consolidated Balance Sheet	Asset Fair Value		Liabilities Fair Value		Net Fair Value
Derivatives designated as hedging instruments:
Foreign exchange contracts	Prepaids and other current assets	$	2,307	$	(1,341)	$	966
Foreign exchange contracts	Other long-term liabilities	38		(353)		(315)
		$	2,345	$	(1,694)	$	651

Derivatives not designated as hedging instruments:
Foreign exchange contracts	Other current liabilities	22		(159)		(137)

Total derivatives		$	2,367	$	(1,853)	$	514

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Selected Quarterly Financial Data

Selected quarterly financial data for 2020 and 2019 are as follows:


	Three Months Ended
	March(1)		June(2)		September(3)		December(4)
2020
Net sales	$	214,010	$	157,785	$	237,835	$	252,828
Gross profit	119,159		71,929		133,698		135,514
Net income (loss)	5,927		(27,400)		6,850		24,140
EPS:
Basic	$	0.21	$	(0.96)	$	0.24	$	0.84
Diluted	0.20		$	(0.96)	$	0.23	$	0.81


	Three Months Ended
	March(5)		June(6)		September(7)		December(8)
2019
Net sales	$	218,378	$	238,263	$	233,590	$	264,865
Gross profit	121,438		131,190		130,111		141,975
Net income	1,021		5,695		6,970		14,933
EPS:
Basic	$	0.04	$	0.20	$	0.25	$	0.53
Diluted	$	0.04	$	0.19	$	0.23	$	0.49

Operations and Significant Accounting Policies (Property, Plant and Equipment) (Details)	12 Months Ended
	Dec. 31, 2020
Building and improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life, average (in years)	12 years
Building and improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life, average (in years)	40 years
Machinery and equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life, average (in years)	2 years
Machinery and equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life, average (in years)	15 years

Operations and Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 29, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operations and Significant Accounting Policies [Line Items]
Lessee, Operating Lease, Termination Option Term		1 year
Selling and administrative expense		$ 373,817	$ 400,141	$ 355,617
Other Noncurrent Assets
Other Assets, Noncurrent [Abstract]
Field inventory		43,300	50,300
Shipping and Handling [Member]
Operations and Significant Accounting Policies [Line Items]
Selling and administrative expense		$ 14,600	$ 15,400	$ 14,000
Minimum [Member]
Operations and Significant Accounting Policies [Line Items]
Remaining Lease Term		1 year
Maximum [Member]
Operations and Significant Accounting Policies [Line Items]
Remaining Lease Term		10 years
Lessee, Operating Lease, Renewal Term		5 years
2.625 Percent Convertible Notes Due 2024 [Member] \| Convertible Notes Payable [Member]
Operations and Significant Accounting Policies [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.625%
Debt Instrument, Convertible, Conversion Price	$ 88.80
Option Indexed to Issuer's Equity, Strike Price	$ 114.92

Operations and Significant Accounting Policies (Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings per share:
Net income	$ 24,140	$ 6,850	$ (27,400)	$ 5,927	$ 14,933	$ 6,970	$ 5,695	$ 1,021	$ 9,517	$ 28,620	$ 40,854
Basic-weighted average shares outstanding (in shares)									28,581	28,325	28,118
Effect of dilutive potential securities (in shares)									883	1,170	772
Diluted-weighted average shares outstanding (in shares)									29,464	29,495	28,890
Basic EPS (in dollars per share)	$ 0.84	$ 0.24	$ (0.96)	$ 0.21	$ 0.53	$ 0.25	$ 0.20	$ 0.04	$ 0.33	$ 1.01	$ 1.45
Diluted EPS (in dollars per share)	$ 0.81	$ 0.23	$ (0.96)	$ 0.20	$ 0.49	$ 0.23	$ 0.19	$ 0.04	$ 0.32	$ 0.97	$ 1.41
Shares excluded from computation of earnings per share									1,400	700	700

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Operations and Significant Accounting Policies (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated other comprehensive income (loss) [Roll Forward]
Accumulated other comprehensive income (loss), beginning of the period	$ (59,277)
Other Comprehensive Income (Loss), Net of Income Tax	(4,404)	$ (3,540)	$ (710)
Accumulated other comprehensive income (loss), end of the period	(63,681)	(59,277)
Accumulated Other Comprehensive Loss [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Accumulated other comprehensive income (loss), beginning of the period	(59,277)	(55,737)	(49,078)
Other comprehensive income (loss) before reclassifications, net of tax	(5,498)	803	(3,441)
Amounts reclassified from accumulated other comprehensive income (loss) before tax	1,443	(5,726)	3,602
Reclassification from AOCI, Current Period, Tax	(349)	1,383	(871)
Other Comprehensive Income (Loss), Net of Income Tax	(4,404)	(3,540)	(710)
Accumulated other comprehensive income (loss), end of the period	(63,681)	(59,277)	(55,737)
Cash Flow Hedging Gain (Loss) [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Accumulated other comprehensive income (loss), beginning of the period	493	4,085	(3,530)
Other comprehensive income (loss) before reclassifications, net of tax	(5,393)	2,936	7,639
Amounts reclassified from accumulated other comprehensive income (loss) before tax	(1,378)	(8,607)	913
Reclassification from AOCI, Current Period, Tax	333	2,079	(221)
Other Comprehensive Income (Loss), Net of Income Tax	(6,438)	(3,592)	8,331
Accumulated other comprehensive income (loss), end of the period	(5,945)	493	4,085
Pension Liability [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Accumulated other comprehensive income (loss), beginning of the period	(31,691)	(31,718)	(25,813)
Other comprehensive income (loss) before reclassifications, net of tax	(7,068)	(2,158)	(2,711)
Amounts reclassified from accumulated other comprehensive income (loss) before tax	2,821	2,881	2,689
Reclassification from AOCI, Current Period, Tax	(682)	(696)	(650)
Other Comprehensive Income (Loss), Net of Income Tax	(4,929)	27	(672)
Accumulated other comprehensive income (loss), end of the period	(36,620)	(31,691)	(31,718)
Cumulative Translation Adjustment [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Accumulated other comprehensive income (loss), beginning of the period	(28,079)	(28,104)	(19,735)
Other comprehensive income (loss) before reclassifications, net of tax	6,963	25	(8,369)
Amounts reclassified from accumulated other comprehensive income (loss) before tax	0	0	0
Reclassification from AOCI, Current Period, Tax	0	0	0
Other Comprehensive Income (Loss), Net of Income Tax	6,963	25	(8,369)
Accumulated other comprehensive income (loss), end of the period	$ (21,116)	$ (28,079)	(28,104)
Accounting Standards Update 2018-02 [Member] \| Accumulated Other Comprehensive Loss [Member] \| Cumulative effect of change in accounting principle(b)
Accumulated other comprehensive income (loss) [Roll Forward]
Cumulative effect of change in accounting principle(b)			(5,949)
Accounting Standards Update 2018-02 [Member] \| Pension Liability [Member] \| Cumulative effect of change in accounting principle(b)
Accumulated other comprehensive income (loss) [Roll Forward]
Cumulative effect of change in accounting principle(b)			(5,233)
Accounting Standards Update 2018-02 [Member] \| Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Cumulative effect of change in accounting principle(b)
Accumulated other comprehensive income (loss) [Roll Forward]
Cumulative effect of change in accounting principle(b)			$ (716)

Business Acqusition Business Acquisition (Details) - USD ($) $ in Thousands			3 Months Ended								12 Months Ended
	Dec. 04, 2019	Feb. 11, 2019	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 13,900
Payments to acquire business		$ 365,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount		215,800
Acquisition and integration costs			$ 600	$ 800	$ 1,100	$ 1,600	$ 1,900	$ 1,700	$ 3,000	$ 7,900			$ 1,100
Revenues			252,828	$ 237,835	$ 157,785	$ 214,010	264,865	$ 233,590	$ 238,263	$ 218,378	$ 862,459	$ 955,097	859,634
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		119
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		4,587
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		4,582
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		146
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets		9,434
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		4,036
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets		80
Goodwill			$ 618,440				$ 618,042				618,440	618,042	400,440
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		166
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		369,509
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities		4,462
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		4,462
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		365,047
Pro Forma Information [Abstract]
Business Acquisition, Pro Forma Revenue												960,115	898,545
Business Acquisition, Pro Forma Net Income (Loss)												44,361	10,407
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	4,100
Goodwill, Acquired During Period	$ 700	$ 215,800									0	217,482
Buffalo Filter LLC [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		16 years
Revenues												49,600
Goodwill		$ 215,793
Customer Relationships [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 124,000
Customer Relationships [Member] \| Buffalo Filter LLC [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		16 years
Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 9,000
Technology-Based Intangible Assets [Member] \| Buffalo Filter LLC [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		10 years
Trademarks and Trade Names [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 7,000
Trademarks and Trade Names [Member] \| Buffalo Filter LLC [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		20 years
Selling and Administrative Expenses [Member]
Business Acquisition [Line Items]
Acquisition and integration costs											1,192	13,066	2,372
Selling and Administrative Expenses [Member] \| Buffalo Filter LLC [Member]
Business Acquisition [Line Items]
Acquisition and integration costs													1,300
Cost of Sales [Member]
Business Acquisition [Line Items]
Acquisition and integration costs											$ 2,820	$ 1,335	0
Pro Forma [Member] \| Selling and Administrative Expenses [Member] \| Acquisition-related Costs [Member]
Business Acquisition [Line Items]
Acquisition and integration costs													13,100
Pro Forma [Member] \| Cost of Sales [Member] \| Acquisition-related Costs [Member]
Business Acquisition [Line Items]
Acquisition and integration costs													$ 1,300

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 71,807	$ 51,103
Work in process	15,864	15,142
Finished goods	107,197	98,371
Total inventory	$ 194,868	$ 164,616

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 357,403	$ 346,776
Less: Accumulated depreciation	(245,996)	(227,893)
Total property, plant and equipment	111,407	118,883
Capitalized Computer Software, Gross	50,300	49,600
Capitalized Computer Software, Accumulated Amortization	(42,900)	(38,700)
Capitalized Computer Software, Amortization	4,700	4,800	$ 4,700
Proceeds from Sale of Property Held-for-sale	3,227	0	$ 0
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,027	4,686
Building and improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	93,886	95,632
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	243,810	233,140
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 15,680	$ 13,318

Leases Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Rental expense			$ 8,700
Straight-line lease cost	$ 7,255	$ 7,780
Operating Lease, Impairment Loss	0	312
Operating Lease, Expense	7,255	8,092
Depreciation	355	238
Interest on lease liabilities	33	27
Total finance lease cost	388	265
Total lease cost	$ 7,643	$ 8,357

Leases Supplementary Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Other assets (net of lease impairment of $1,001 at December 31, 2019)	$ 21,659	$ 23,099
Operating Lease, Right-Of-Use Asset, Impairment		1,001
Other current liabilities	7,469	7,268
Other long-term liabilities	14,756	17,096
Total operating lease liabilities	22,225	24,364
Property, plant and equipment, gross	1,762	1,684
Accumulated depreciation	(825)	(479)
Property, plant and equipment, net	937	1,205
Current portion of long-term debt	197	346
Long-term debt	390	490
Total finance lease liabilities	$ 587	$ 836
Weighted Average Remaining Lease Term [Abstract]
Operating leases	3 years 9 months 3 days	4 years 5 months 4 days
Finance leases	3 years 2 months 19 days	3 years 7 months 9 days
Leases Weighted Average Discount Rate [Abstract]
Operating leases	5.00%	4.84%
Finance leases	4.93%	4.70%
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent

Leases Supplementary Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Lease Obligation Incurred			$ 200
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 7,535	$ 8,459
Financing cash flows from finance leases	373	380
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	4,242	12,800
Finance leases	$ 76	$ 563

Leases Maturities of Operating and Financing Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Lease
2021	$ 7,469
2022	6,792
2023	4,922
2024	3,676
2025	998
Thereafter	726
Total lease payments	24,583
Less imputed interest	(2,358)
Total lease liabilities	22,225	$ 24,364
Finance Lease
2021	197
2022	254
2023	129
2024	38
2025	2
Thereafter	0
Total lease payments	620
Less imputed interest	(33)
Total lease liabilities	$ 587	$ 836

Goodwill and Other Intangible Assets (Goodwill) (Details) - USD ($) $ in Thousands			12 Months Ended
	Dec. 04, 2019	Feb. 11, 2019	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill beginning balance			$ 618,042	$ 400,440
Goodwill, Acquired During Period	$ 700	$ 215,800	0	217,482
Goodwill, Purchase Accounting Adjustments			(1,009)	0
Foreign currency translation			1,407	120
Goodwill ending balance			618,440	618,042
Accumulated goodwill impairment loss			$ 107,000	$ 107,000

Goodwill and Other Intangible Assets (Intangible Assets) (Details) - USD ($) $ in Thousands			12 Months Ended
	Dec. 04, 2019	Feb. 11, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Goodwill, Acquired During Period	$ 700	$ 215,800	$ 0	$ 217,482
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 4,100
Intangible assets, gross carrying amount			758,679	755,738
Intangible assets, accumulated amortization			(257,142)	(222,938)
Amortization of Intangible Assets			34,200	32,300	$ 23,200
Payments Related to Contingent Consideration			2,671	6,466	21,323
Finite-lived Intangible Assets Acquired		$ 140,000
Future amortization expense [Abstract]
2021			33,535
2022			32,377
2023			31,609
2024			30,794
2025			31,046
Expense [Member]
Future amortization expense [Abstract]
2021			27,535
2022			26,377
2023			25,609
2024			24,794
2025			25,046
Reduction of Revenue [Member]
Future amortization expense [Abstract]
2021			6,000
2022			6,000
2023			6,000
2024			6,000
2025			6,000
Trademarks and Trade Names [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Unamortized intangible assets, gross carrying amount			86,544	86,544
Customer and Distributor Relationships [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Amortized intangible assets, gross carrying amount			342,639	342,568
Intangible assets, accumulated amortization			(134,555)	(115,311)
Sales representation, marketing and promotional rights [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Amortized intangible assets, gross carrying amount			149,376	149,376
Intangible assets, accumulated amortization			(54,000)	(48,000)
Patents and Other Intangible Assets [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Amortized intangible assets, gross carrying amount			73,516	70,646
Intangible assets, accumulated amortization			(48,882)	(46,456)
Technology-Based Intangible Assets [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Amortized intangible assets, gross carrying amount			106,604	106,604
Intangible assets, accumulated amortization			(19,705)	(13,171)
Payments Related to Contingent Consideration			1,600	$ 6,500	$ 21,300
Asset Acquisition, Contingent Consideration Liability			$ 6,000
Weighted Average [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			22 years
Weighted Average [Member] \| Customer and Distributor Relationships [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			24 years
Weighted Average [Member] \| Sales representation, marketing and promotional rights [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			25 years
Weighted Average [Member] \| Patents and Other Intangible Assets [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			15 years
Weighted Average [Member] \| Technology-Based Intangible Assets [Member]
Schedule of Finite-Lived and Indefinite-Lived Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			16 years

Long Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term Debt and Lease Obligation, Including Current Maturities	$ 753,636	$ 768,807
Current portion of long-term debt	18,415	13,596
Financing leases	587	836
Long-term debt	735,221	755,211
Revolving Line of Credit [Member]
Debt Instrument [Line Items]
Total long-term debt	207,000	220,000
Term Loan Facility [Member]
Debt Instrument [Line Items]
Total long-term debt	240,145	253,535
Unamortized Debt Issuance Expense	1,668	1,528
Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Convertible Debt	305,904	294,436
Unamortized Debt Issuance Expense	5,475	7,252
Debt Instrument, Unamortized Discount	$ 33,620	$ 43,312

Long Term Debt (Narrative) (Details)		12 Months Ended
Long Term Debt (Narrative) (Details)	Jan. 29, 2019 USD ($) $ / shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Feb. 07, 2019 USD ($)
Debt Instrument [Line Items]
Amortization of Debt Discount		$ 9,692,000	$ 8,302,000	$ 0
Revolving Line of Credit [Member]
Debt Instrument [Line Items]
Long-term debt outstanding		207,000,000	220,000,000
Line of credit facility, available borrowing capacity		375,500,000
Revolving Line of Credit [Member] \| Amended and Restated Senior Credit Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity					$ 585,000,000.0
Letters of Credit [Member]
Debt Instrument [Line Items]
Letters of credit outstanding		2,500,000
Convertible Notes Payable [Member] \| 2.625 Percent Convertible Notes Due 2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 345,000,000.0
Effective Interest Rate (percent)	6.14%
Interest Expense, Debt		9,100,000	8,400,000
Debt Instrument, Convertible, Gross Amount of Equity Component	$ 51,600,000
Debt Instrument, Interest Rate, Stated Percentage	2.625%
Option Indexed to Issuer's Equity, Strike Price \| $ / shares	$ 114.92
Credit Agreement Expiration Trigger Requirement, Convertible Note Outstanding Balance					150,000,000.0
Debt Instrument, Convertible, Carrying Amount of Equity Component	$ 39,100,000
Amortization of Debt Discount		$ 9,700,000	8,300,000
Debt Instrument, Convertible, Conversion Ratio	11.2608
Debt Instrument, Convertible, Conversion Price \| $ / shares	$ 88.80
Long-term Debt [Member] \| Amended and Restated Senior Credit Agreement [Member]
Debt Instrument [Line Items]
Effective Interest Rate (percent)		3.50%
Line of Credit Facility, Commitment Fee Percentage		0.50%
LIBOR Interest Rate Floor		0.50%
Term Loan Facility [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 241,800,000
Long-term debt outstanding		$ 240,145,000	$ 253,535,000
Term Loan Facility [Member] \| Amended and Restated Senior Credit Agreement [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 265,000,000.0
Base Rate [Member] \| Long-term Debt [Member] \| Amended and Restated Senior Credit Agreement [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		2.00%
London Interbank Offered Rate (LIBOR) [Member] \| Long-term Debt [Member] \| Amended and Restated Senior Credit Agreement [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		3.00%
Eurodollar [Member] \| Long-term Debt [Member] \| Amended and Restated Senior Credit Agreement [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		3.00%
Call Option [Member]
Debt Instrument [Line Items]
Hedge and warrant transactions, net cash paid	$ 21,000,000.0

Long Term Debt (Maturities of Long-term Debt) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Scheduled maturities of long-term debt outstanding [Abstract]
2020	$ 18,219
2021	24,843
2022	405,750
2023	345,000
2024	0
Thereafter	$ 0

Income Taxes (Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current tax expense:
Current Federal Tax Expense (Benefit)	$ (729)	$ 96	$ (1,077)
Current State and Local Tax Expense (Benefit)	86	444	777
Current Foreign Tax Expense (Benefit)	6,963	8,375	8,036
Current income tax expense (benefit)	6,320	8,915	7,736
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Deferred Federal Income Tax Expense (Benefit)	(12,253)	(3,970)	4,478
Deferred State and Local Income Tax Expense (Benefit)	(1,173)	(938)	62
Deferred Foreign Income Tax Expense (Benefit)	(808)	(1,402)	(2,477)
Deferred income tax expense (benefit):	(14,234)	(6,310)	2,063
Provision (benefit) for income taxes	$ (7,914)	$ 2,605	9,799
Tax Cuts and Jobs Act, Measurement Period Adjustment, Deferred Tax Revaluation, Income Tax Expense (Benefit)			1,300
Tax Cuts and Jobs Act, Measurement Period Adjustment, Foreign Items, Income Tax Expense (Benefit)			(400)
Tax Cuts and Jobs Act, Income Tax Expense (Benefit)			$ (31,000)

Income Taxes (Effective Income Tax Rate Reconciliation) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Tax provision at statutory rate based on income before income taxes (percent)	21.00%	21.00%	21.00%	35.00%
Effective Income Tax Rate Reconciliation Tax Reform, Domestic	0.00%	0.00%	1.80%
Effective Income Tax Rate Reconciliation Tax Reform, International	0.00%	0.00%	(3.60%)
Foreign income taxes (percent)	129.60%	6.40%	3.60%
Federal research credit (percent)	(124.20%)	(4.00%)	(2.80%)
Effective Income Tax Rate Reconciliation, Tax treaty protocols, Percent	0.00%	(2.90%)	0.00%
Settlement of taxing authority examinations (percent)	(122.90%)	(7.70%)	(0.70%)
Stock-based compensation (percent)	(267.70%)	(15.40%)	(1.60%)
Non deductible/non-taxable items (percent)	28.60%	2.80%	(1.40%)
State income taxes, net of federal tax benefit (percent)	(24.50%)	0.30%	1.60%
Effective Income Tax Rate Reconciliation, US tax on worldwide earnings at different rates, Percent	(123.70%)	7.90%	2.90%
Other, net (percent)	(10.10%)	(0.10%)	(1.50%)
Effective income tax rate, continuing operations (percent)	(493.90%)	8.30%	19.30%

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Components of Deferred Tax Assets [Abstract]
Inventory	$ 4,649	$ 4,085
Net operating losses	22,197	3,679
Capitalized research and development	5,187	6,201
Deferred compensation	2,240	2,102
Accounts receivable	2,784	2,556
Compensation and benefits	7,540	6,049
Accrued pension	5,348	3,710
Research and development credit	13,540	10,321
Interest limitation	0	5,702
Convertible notes hedge	6,999	9,004
Deferred Tax Assets, Lease Liabilities	4,452	5,688
Other	6,793	4,336
Less: valuation allowances	(2,721)	(1,732)
Deferred Tax Assets, Net of Valuation Allowance	79,008	61,701
Components of Deferred Tax Liabilities [Abstract]
Goodwill and intangible assets	104,119	102,015
Depreciation	2,512	301
State taxes	9,614	11,161
Unremitted foreign earnings	2,423	2,619
Convertible notes debt discount	7,060	9,096
Deferred Tax Liabilities, Leasing Arrangements	4,313	5,338
Deferred tax liabilities	130,041	130,530
Net liability	$ (51,033)	$ (68,829)

Income Taxes (Income Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Undistributed Earnings of Foreign Subsidiaries	$ 22,600
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries	1,500
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]
U.S. income	(16,026)	$ 5,332	$ 24,320
Foreign income	17,629	25,893	26,333
Income before income taxes	$ 1,603	$ 31,225	$ 50,653

Income Taxes (Tax Credit Carryforwards) (Details) - Federal [Member] $ in Millions	Dec. 31, 2020 USD ($)
Tax Credit Carryforward [Line Items]
Operating loss carryforwards	$ 19.4
Research and Development Credit [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforward	$ 13.5

Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unrecognized Tax Benefits [Roll Forward]
Balance as of January 1	$ 2,170	$ 3,073	$ 2,943
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	0	0	(250)
Increases for positions taken in current periods	0	1,650	1,017
Decreases in unrecorded tax positions related to settlement with the taxing authorities	(1,970)	(2,404)	(370)
Decreases in unrecorded tax positions related to lapse of statute of limitations	0	(149)	(267)
Balance as of December 31	$ 200	$ 2,170	$ 3,073

Shareholders' Equity (Details)			12 Months Ended
Shareholders' Equity (Details)	Oct. 28, 2013 $ / shares	Feb. 29, 2012 $ / shares	Dec. 31, 2020 USD ($) plans $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends per share of common stock (in dollars per share) \| $ / shares	$ 0.20	$ 0.15	$ 0.80	$ 0.80	$ 0.80
Dividends payable			$ 5,775,000	$ 5,684,000	$ 5,626,000
Preferred stock, shares authorized (in shares) \| shares			500,000	500,000
Preferred stock, par value (in dollars per per share) \| $ / shares			$ 0.01	$ 0.01
Shares authorized under repurchase program			$ 200,000,000.0
Total stock repurchased under plan, shares \| shares			6,100,000
Total stock repurchased under plan, value			$ 162,600,000
Remaining authorized repurchase amount			$ 37,400,000
Number of shares reserved for share-based compensation plans \| shares			7,100,000
Number of share-based compensation plans \| plans			2
Number of shares available for grant \| shares			3,800,000
Stock-based compensation			$ 13,111,000	$ 11,779,000	10,037,000
Tax benefit from stock-based compensation			3,200,000	2,800,000	2,300,000
Proceeds from stock options exercised			$ 13,700,000	$ 7,700,000	$ 3,500,000
Stock Options and Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period from date of grant (in years)			10 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term (in years)			4 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term (in years)			5 years

Shareholders' Equity (Awards) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 33.1
Weighted average period costs expected to be recognized (in years)	3 years 4 months 24 days
Stock Options and Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of Stock options & SARs (in dollars per share)	$ 22.62	$ 20.59	$ 14.78
Expected stock price volatility (percent)	26.89%	26.59%	25.69%
Risk-free interest rate (percent)	0.89%	2.58%	2.62%
Expected annual dividend yield (percent)	0.82%	1.08%	1.34%
Expected term of option & SARs (in years)	5 years 6 months	5 years 7 months 6 days	5 years 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of shares outstanding, Beginning Balance	3,253
Number of shares, Granted	859
Number of shares, Forfeited	(250)
Number of shares, Exercised	(526)
Number of shares outstanding, Ending Balance	3,336	3,253
Number of shares, Exercisable	1,199
Number of shares, Stock options & SARs expected to vest	2,137
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price, Beginning Balance (in dollars per share)	$ 55.97
Weighted average exercise price, Granted (in dollars per share)	95.84
Weighted average exercise price, Forfeited (in dollars per share)	72.81
Weighted average exercise price, Exercised (in dollars per share)	45.07
Weighted average exercise price, Ending Balance (in dollars per share)	66.76	$ 55.97
Exercisable, Weighted Average Exercise Price (in dollars per share)	52.18
Stock options & SARs expected to vest, Weighted Average Exercise Price (in dollars per share)	$ 74.94
Weighted average remaining contractual term, options outstanding (in years)	7 years 2 months 12 days
Weighted average remaining contractual term, options exercisable (in years)	5 years 9 months 18 days
Aggregate intrinsic value, options outstanding	$ 150.9
Aggregate intrinsic value, options exercisable	71.7
Aggregate intrinsic value	$ 26.6	$ 17.0	$ 4.2
Restricted Stock Units (RSUs) and Performance Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares outstanding, Beginning Balance	169
Number of shares, Granted	37
Number of shares, Vested	(140)
Number of shares, Forfeited	(5)
Number of shares outstanding, Ending Balance	61	169
Share-based Compensation Arrangement by Share-based Payment Award, Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value, Beginning Balance (in dollars per share)	$ 48.94
Weighted average grant date fair value, Granted (in dollars per share)	85.45	$ 78.64	$ 61.76
Weighted average grant date fair value, Vested (in dollars per share)	43.99
Weighted average grant date fair value, Forfeited (in dollars per share)	79.30
Weighted average grant date fair value, Ending Balance (in dollars per share)	$ 77.03	$ 48.94
Total fair value of shares vested	$ 6.2	$ 2.8	$ 3.0

Shareholders' Equity (Employee Plan) (Details)	12 Months Ended
Shareholders' Equity (Employee Plan) (Details)	Dec. 31, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for share-based compensation plans	7,100,000
Employee Plan [Member] \| Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for share-based compensation plans	1,000,000.0
Minimum percent of salary employees can invest	1.00%
Maximum percent of salary employees can invest	10.00%
Purchase prices percent of fair market value	95.00%
Number of shares issued under Plan	22,165

Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
Revenues (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net Sales	$ 862,459	$ 955,097	$ 859,634
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales	824,465	916,206	825,021
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales	37,994	38,891	34,613
Orthopedic Surgery [Member]
Disaggregation of Revenue [Line Items]
Net Sales	374,705	463,322	446,728
Orthopedic Surgery [Member] \| Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales	340,318	426,893	413,630
Orthopedic Surgery [Member] \| Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales	34,387	36,429	33,098
General Surgery [Member]
Disaggregation of Revenue [Line Items]
Net Sales	487,754	491,775	412,906
General Surgery [Member] \| Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales	484,147	489,313	411,391
General Surgery [Member] \| Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales	$ 3,607	$ 2,462	$ 1,515

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Revenues Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 9,300	$ 6,800	$ 5,000
Contract with Customer, Liability	$ 13,666	$ 14,276

Business Segments and Geographic Areas (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) Customers	Dec. 31, 2019 USD ($) Customers	Dec. 31, 2018 USD ($) Customers
Segment Reporting Information [Line Items]
Net Sales	$ 862,459	$ 955,097	$ 859,634
Number of customer representing over 10% of consolidated net sales \| Customers	0	0	0
United States [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 482,064	$ 516,665	$ 448,648
Americas (excluding the United States) [Member]
Segment Reporting Information [Line Items]
Net Sales	78,714	95,273	97,528
EMEA [Member]
Segment Reporting Information [Line Items]
Net Sales	161,084	182,549	166,563
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Net Sales	140,597	160,610	146,895
Orthopedic Surgery [Member]
Segment Reporting Information [Line Items]
Net Sales	374,705	463,322	446,728
Orthopedic Surgery [Member] \| United States [Member]
Segment Reporting Information [Line Items]
Net Sales	139,715	179,419	172,462
Orthopedic Surgery [Member] \| Americas (excluding the United States) [Member]
Segment Reporting Information [Line Items]
Net Sales	50,356	64,269	66,519
Orthopedic Surgery [Member] \| EMEA [Member]
Segment Reporting Information [Line Items]
Net Sales	90,998	118,301	112,998
Orthopedic Surgery [Member] \| Asia Pacific [Member]
Segment Reporting Information [Line Items]
Net Sales	93,636	101,333	94,749
General Surgery [Member]
Segment Reporting Information [Line Items]
Net Sales	487,754	491,775	412,906
General Surgery [Member] \| United States [Member]
Segment Reporting Information [Line Items]
Net Sales	342,349	337,246	276,186
General Surgery [Member] \| Americas (excluding the United States) [Member]
Segment Reporting Information [Line Items]
Net Sales	28,358	31,004	31,009
General Surgery [Member] \| EMEA [Member]
Segment Reporting Information [Line Items]
Net Sales	70,086	64,248	53,565
General Surgery [Member] \| Asia Pacific [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 46,961	$ 59,277	$ 52,146

Employee Benefit Plans (Defined Contribution Plan) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employee Savings Plan [Member]
Defined Contribution Plan Disclosure [Line Items]
Employer contributions	$ 8.9	$ 9.1	$ 8.3

Employee Benefit Plans (Employee Benefit Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Service cost	$ 717	$ 1,010	$ 675
Interest cost	2,555	3,130	2,806
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	75,321
Fair value of plan assets at end of year	76,940	75,321
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)	9,200
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation	101,242	92,052
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation at beginning of year	92,052	80,776
Service cost	717	1,010
Interest cost	2,555	3,130
Actuarial loss	10,963	10,561
Defined Benefit Plan, Benefit Obligation, Benefits Paid	(1,933)	(2,299)
Settlement	(3,112)	(1,126)
Projected benefit obligation at end of year	101,242	92,052	80,776
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	75,321	66,307
Actual gain (loss) on plan assets	6,664	12,439
Defined Benefit Plan, Plan Assets, Benefits Paid	(1,933)	(2,299)
Settlement	(3,112)	(1,126)
Fair value of plan assets at end of year	76,940	75,321	$ 66,307
Funded status	$ (24,302)	$ (16,731)

Employee Benefit Plans (Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Liability, Defined Benefit Plan, Noncurrent	$ (24,302)	$ (16,731)
Accumulated other comprehensive loss	$ (48,285)	$ (41,787)

Employee Benefit Plans (Actuarial Assumptions) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2.44%	3.33%
Defined Benefit Plan, Assumptions Used Calculating Net Period Benefit Cost, Benefit Obligation, Discount Rate	3.33%	4.37%	3.69%
Effective rate for interest on benefit obligation (percent)	2.88%	4.01%	3.28%
Expected return on plan assets (percent)	7.00%	7.50%	7.50%
Cumulative Gains and Losses Amortization Period Limit	12 years

Employee Benefit Plans (Other Changes in Plan Assets and Benefit Obligations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Current year actuarial loss	$ (9,319)	$ (2,846)
Amortization of actuarial loss	2,821	2,881
Total recognized in other comprehensive loss	$ (6,498)	$ 35

Employee Benefit Plans (Net Periodic Pension Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Defined Benefit Plan, Non-Service Cost	$ 400	$ 1,300
Service cost	717	1,010	$ 675
Interest cost on projected benefit obligation	2,555	3,130	2,806
Expected return on plan assets	(5,021)	(4,725)	(5,418)
Amortization of loss	2,821	2,881	2,689
Net periodic pension cost	$ 1,072	$ 2,296	$ 752

Employee Benefit Plans (Allocation of Pension Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Percentage of pension plan assets	100.00%	100.00%
Target allocation (percent)	100.00%
Number of CONMED shares in Plan	27,562
Fair value of CONMED shares in Plan	$ 3.1
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of pension plan assets	76.00%	74.00%
Target allocation (percent)	75.00%
Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of pension plan assets	24.00%	26.00%
Target allocation (percent)	25.00%

Employee Benefit Plans (Fair Value of Plan Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 76,940	$ 75,321
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	27,033	26,916
Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	49,907	48,405
Common Stock [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9,185	8,307
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17,848	18,609
Money Market Funds [Member] \| Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	915	789
Mututal Funds [Member] \| Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 48,992	$ 47,616