10-Q Filing

CONMED CORP CIK: 816956 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0000816956-16-000021`
Period End Date	20160930
Filing Date	20161028
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	cnmd-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 72 Cash Flow Statement 73

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.95M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$65.33M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.50M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$133.19M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$133.86M	USD	Point-in-time
Inventories	`InventoryNet`	$166.89M	USD	Point-in-time
Common stock, par value (dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$188.53M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$20.08M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$20.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$393.34M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.30M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$369.38M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.30M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	3.48M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$125.45M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$123.45M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	3.59M	shares	Point-in-time
Goodwill	`Goodwill`	$260.65M	USD	Point-in-time
Goodwill	`Goodwill`	$398.38M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$424.22M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$308.17M	USD	Point-in-time
Other assets	`OtherAssets`	$14.09M	USD	Point-in-time
Other assets	`OtherAssets`	$15.31M	USD	Point-in-time
Total assets	`Assets`	$1.10B	USD	Point-in-time
Total assets	`Assets`	$1.33B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$10.14M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$34.72M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$31.82M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$31.30M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$51.84M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$34.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$112.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$119.72M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$269.47M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$490.18M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$119.02M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$103.38M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$24.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$24.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$746.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$516.63M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $.01 per share; authorized 500,000 shares; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.01 per share; authorized 500,000 shares; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.01 per share; 100,000,000 shares authorized; 31,299,194 shares issued in 2016 and 2015, respectively	`CommonStockValue`	$313.00K	USD	Point-in-time
Common stock, par value $.01 per share; 100,000,000 shares authorized; 31,299,194 shares issued in 2016 and 2015, respectively	`CommonStockValue`	$313.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$324.92M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$327.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$405.79M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$414.51M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-53.89M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-51.82M	USD	Point-in-time
Less: 3,481,351 and 3,590,409 shares of common stock in treasury, at cost in 2016 and 2015, respectively	`TreasuryStockValue`	$100.77M	USD	Point-in-time
Less: 3,481,351 and 3,590,409 shares of common stock in treasury, at cost in 2016 and 2015, respectively	`TreasuryStockValue`	$97.71M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$584.17M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$585.07M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.10B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.33B	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$559.43M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$184.79M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$528.15M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$169.18M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$83.58M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$258.06M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$75.64M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$248.82M	USD	3 Qtrs
Gross profit	`GrossProfit`	$93.55M	USD	1 Quarter
Gross profit	`GrossProfit`	$279.33M	USD	3 Qtrs
Gross profit	`GrossProfit`	$101.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$301.37M	USD	3 Qtrs
Selling and administrative expense	`SellingGeneralAndAdministrativeExpense`	$79.01M	USD	1 Quarter
Selling and administrative expense	`SellingGeneralAndAdministrativeExpense`	$220.42M	USD	3 Qtrs
Selling and administrative expense	`SellingGeneralAndAdministrativeExpense`	$72.06M	USD	1 Quarter
Selling and administrative expense	`SellingGeneralAndAdministrativeExpense`	$251.68M	USD	3 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$24.62M	USD	3 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$8.35M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$20.70M	USD	3 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$6.65M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$276.30M	USD	3 Qtrs
Operating expenses	`OperatingExpenses`	$87.36M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$241.12M	USD	3 Qtrs
Operating expenses	`OperatingExpenses`	$78.71M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$25.07M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$14.84M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$38.21M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$13.85M	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	-	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$2.94M	USD	3 Qtrs
Other expense	`OtherNonoperatingExpense`	-	USD	3 Qtrs
Other expense	`OtherNonoperatingExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$11.45M	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.50M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.86M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.45M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.99M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.68M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$33.76M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.33M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.11M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.72M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.46M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.65M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.65M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.96M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$8.87M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.90M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.66M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.03M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.74M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.82	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.32	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.29	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.28	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.81	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Dividends per share of common stock (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.60	USD	3 Qtrs
Dividends per share of common stock (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.20	USD	1 Quarter
Dividends per share of common stock (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.60	USD	3 Qtrs
Dividends per share of common stock (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.20	USD	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	27.70M	shares	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	27.79M	shares	3 Qtrs
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	27.64M	shares	3 Qtrs
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	27.82M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.95M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.95M	shares	3 Qtrs
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.90M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.85M	shares	3 Qtrs

Cash Flow Statement 73 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.65M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.96M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$8.87M	USD	1 Quarter
Depreciation	`Depreciation`	$13.92M	USD	3 Qtrs
Depreciation	`Depreciation`	$15.24M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$18.39M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$25.97M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$6.50M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$5.56M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.98M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.16M	USD	3 Qtrs
Gain on sale of facility	`GainLossOnSaleOfProperties`	-	USD	3 Qtrs
Gain on sale of facility	`GainLossOnSaleOfProperties`	$1.89M	USD	3 Qtrs
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-254.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-310.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-11.34M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$25.13M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$22.14M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.42M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.99M	USD	3 Qtrs
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-3.70M	USD	3 Qtrs
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-7.04M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.43M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.04M	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-4.52M	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-4.45M	USD	3 Qtrs
Total operating	`IncreaseDecreaseInOperatingCapital`	$-16.07M	USD	3 Qtrs
Total operating	`IncreaseDecreaseInOperatingCapital`	$-16.68M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$24.64M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.72M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.44M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.48M	USD	3 Qtrs
Proceeds from sale of a facility	`ProceedsFromSaleOfBuildings`	-	USD	3 Qtrs
Proceeds from sale of a facility	`ProceedsFromSaleOfBuildings`	$5.20M	USD	1 Quarter
Proceeds from sale of a facility	`ProceedsFromSaleOfBuildings`	$5.18M	USD	3 Qtrs
Payments related to business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$256.45M	USD	3 Qtrs
Payments related to business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$6.10M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-261.71M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.58M	USD	3 Qtrs
Payments on term loan	`RepaymentsOfLongTermDebt`	-	USD	3 Qtrs
Payments on term loan	`RepaymentsOfLongTermDebt`	$6.56M	USD	3 Qtrs
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	$175.00M	USD	3 Qtrs
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	3 Qtrs
Proceeds from revolving line of credit, net	`ProceedsFromLinesOfCredit`	$61.65M	USD	3 Qtrs
Proceeds from revolving line of credit, net	`ProceedsFromLinesOfCredit`	$21.00M	USD	3 Qtrs
Payments related to distribution agreement	`PaymentsForContingentPayments`	$16.67M	USD	3 Qtrs
Payments related to distribution agreement	`PaymentsForContingentPayments`	$16.67M	USD	3 Qtrs
Payments related to contingent consideration	`PaymentsforContingentConsiderationRelatedtoBusinessAcquisition`	$200.00K	USD	3 Qtrs
Payments related to contingent consideration	`PaymentsforContingentConsiderationRelatedtoBusinessAcquisition`	$2.42M	USD	3 Qtrs
Payments related to debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.41M	USD	3 Qtrs
Payments related to debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$5.56M	USD	3 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$16.65M	USD	3 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$16.57M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$810.00K	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$400.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$191.42M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.26M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$95.00K	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-6.89M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.01M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-45.56M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$66.33M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$26.95M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$65.33M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$72.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$66.33M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$26.95M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$65.33M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$72.50M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$5.56M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$5.54M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.