10-Q Filing

CONMED CORP CIK: 816956 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0000816956-18-000014`
Period End Date	20180930
Filing Date	20181102
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	cnmd-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 68 Cash Flow Statement 64

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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.69M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.62M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$167.04M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$161.00M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventories	`InventoryNet`	$153.62M	USD	Point-in-time
Inventories	`InventoryNet`	$141.44M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.30M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$19.15M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.30M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$15.69M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$356.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$363.46M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	3.18M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	3.34M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$113.70M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$116.23M	USD	Point-in-time
Goodwill	`Goodwill`	$400.98M	USD	Point-in-time
Goodwill	`Goodwill`	$401.95M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$415.19M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$414.94M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$69.65M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$68.06M	USD	Point-in-time
Total assets	`Assets`	$1.36B	USD	Point-in-time
Total assets	`Assets`	$1.36B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$14.70M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$18.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$42.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$48.23M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$34.26M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$34.42M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$59.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$64.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$164.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$150.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$442.90M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$471.74M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$77.67M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$79.25M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$27.11M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$23.28M	USD	Point-in-time
Total liabilities	`Liabilities`	$710.32M	USD	Point-in-time
Total liabilities	`Liabilities`	$726.53M	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 2018 and 2017, 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 2018 and 2017, respectively	`CommonStockValue`	$313.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$339.03M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$333.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$440.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$448.88M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-46.43M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-49.08M	USD	Point-in-time
Less: 3,175,822 and 3,338,015 shares of common stock in treasury, at cost in 2018 and 2017, respectively	`TreasuryStockValue`	$89.13M	USD	Point-in-time
Less: 3,175,822 and 3,338,015 shares of common stock in treasury, at cost in 2018 and 2017, respectively	`TreasuryStockValue`	$93.68M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$652.66M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$631.43M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.36B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.36B	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$573.84M	USD	3 Qtrs
Net sales	`Revenues`	$617.19M	USD	3 Qtrs
Net sales	`Revenues`	$202.31M	USD	1 Quarter
Net sales	`Revenues`	$190.12M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$91.68M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$87.57M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$266.75M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$280.74M	USD	3 Qtrs
Gross profit	`GrossProfit`	$336.45M	USD	3 Qtrs
Gross profit	`GrossProfit`	$307.08M	USD	3 Qtrs
Gross profit	`GrossProfit`	$102.55M	USD	1 Quarter
Gross profit	`GrossProfit`	$110.63M	USD	1 Quarter
Selling and administrative expense	`SellingGeneralAndAdministrativeExpense`	$84.98M	USD	1 Quarter
Selling and administrative expense	`SellingGeneralAndAdministrativeExpense`	$80.81M	USD	1 Quarter
Selling and administrative expense	`SellingGeneralAndAdministrativeExpense`	$259.40M	USD	3 Qtrs
Selling and administrative expense	`SellingGeneralAndAdministrativeExpense`	$259.16M	USD	3 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$31.82M	USD	3 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$14.12M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$23.93M	USD	3 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$8.27M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$283.32M	USD	3 Qtrs
Operating expenses	`OperatingExpenses`	$99.11M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$89.08M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$290.97M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$13.47M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$23.76M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$45.48M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$11.52M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.81M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.21M	USD	1 Quarter
Interest expense	`InterestExpense`	$15.12M	USD	3 Qtrs
Interest expense	`InterestExpense`	$13.32M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.31M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.44M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$30.36M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.66M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$483.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.47M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.65M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.16M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$25.20M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.83M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.79M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.45M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.14M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$27.84M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$19.67M	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.31	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.90	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.20	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.31	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.87	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.26	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`	$0.60	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`	$0.20	USD	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	27.92M	shares	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	28.10M	shares	3 Qtrs
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	27.91M	shares	3 Qtrs
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	28.12M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.18M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.12M	shares	3 Qtrs
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.87M	shares	3 Qtrs
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.09M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$25.20M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.83M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.79M	USD	3 Qtrs
Depreciation	`Depreciation`	$13.88M	USD	3 Qtrs
Depreciation	`Depreciation`	$14.99M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$32.33M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$28.07M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$7.46M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$6.34M	USD	3 Qtrs
Impairment charges	`Noncashimpairment`	-	USD	3 Qtrs
Impairment charges	`Noncashimpairment`	$4.21M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-5.13M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.27M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.36M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.21M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$12.06M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$13.68M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$6.21M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.80M	USD	3 Qtrs
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$465.00K	USD	3 Qtrs
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-5.15M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$20.32M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$17.92M	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$12.81M	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-8.86M	USD	3 Qtrs
Total operating	`IncreaseDecreaseInOperatingCapital`	$-24.80M	USD	3 Qtrs
Total operating	`IncreaseDecreaseInOperatingCapital`	$-35.96M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$44.75M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$50.00M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.75M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.23M	USD	3 Qtrs
Payments to Acquire Businesses Net of Cash Acquired and Asset Acquisitions	`PaymentstoAcquireBusinessesNetofCashAcquiredandAssetAcquisitions`	$15.19M	USD	3 Qtrs
Payments to Acquire Businesses Net of Cash Acquired and Asset Acquisitions	`PaymentstoAcquireBusinessesNetofCashAcquiredandAssetAcquisitions`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.75M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.43M	USD	3 Qtrs
Payments on term loan	`RepaymentsOfLongTermDebt`	$6.56M	USD	3 Qtrs
Payments on term loan	`RepaymentsOfLongTermDebt`	$9.84M	USD	3 Qtrs
Payments on revolving line of credit	`RepaymentsOfLinesOfCredit`	$119.00M	USD	3 Qtrs
Payments on revolving line of credit	`RepaymentsOfLinesOfCredit`	$98.00M	USD	3 Qtrs
Proceeds from revolving line of credit	`ProceedsFromLinesOfCredit`	$104.00M	USD	3 Qtrs
Proceeds from revolving line of credit	`ProceedsFromLinesOfCredit`	$115.00M	USD	3 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$16.72M	USD	3 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$16.82M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-887.00K	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$1.04M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-40.62M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.17M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-558.00K	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.45M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.93M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$16.61M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.43M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$44.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$29.69M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.62M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.43M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$44.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$29.69M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$32.62M	USD	Point-in-time
Contractual obligations from asset acquisition	`NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1`	-	USD	3 Qtrs
Contractual obligations from asset acquisition	`NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1`	$25.85M	USD	3 Qtrs
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$5.58M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$5.62M	USD	Point-in-time

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