10-Q Filing

CONMED CORP CIK: 816956 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000816956-22-000007`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	cnmd-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 32 Cash Flow Statement 60 Stockholders Equity 26

Balance Sheet 74 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
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	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.77M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.86M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.85M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.36M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$183.88M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$183.25M	USD	Point-in-time
Inventories	`InventoryNet`	$253.73M	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`	$231.64M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.30M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.30M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$26.46M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$23.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$460.12M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	1.93M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	1.78M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$488.30M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$108.53M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$108.86M	USD	Point-in-time
Goodwill	`Goodwill`	$617.53M	USD	Point-in-time
Goodwill	`Goodwill`	$617.53M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$463.42M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$471.05M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$108.45M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$107.94M	USD	Point-in-time
Total assets	`Assets`	$1.77B	USD	Point-in-time
Total assets	`Assets`	$1.79B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$12.23M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$12.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$67.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$58.20M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$45.42M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$60.49M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$62.48M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$65.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$196.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$187.60M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$703.54M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$672.41M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$68.54M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$63.23M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$42.99M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$41.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$996.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$980.58M	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 $0.01 per share; 100,000,000 shares authorized; 31,299,194 shares issued in 2022 and 2021, respectively	`CommonStockValue`	$313.00K	USD	Point-in-time
Common stock, par value $0.01 per share; 100,000,000 shares authorized; 31,299,194 shares issued in 2022 and 2021, respectively	`CommonStockValue`	$313.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$396.77M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$365.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$496.61M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$526.47M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-54.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-52.76M	USD	Point-in-time
Less: 1,782,667 and 1,925,893 shares of common stock in treasury, at cost in 2022 and 2021, respectively	`TreasuryStockValue`	$54.05M	USD	Point-in-time
Less: 1,782,667 and 1,925,893 shares of common stock in treasury, at cost in 2022 and 2021, respectively	`TreasuryStockValue`	$50.03M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$709.04M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$725.57M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$785.43M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$789.55M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.79B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.77B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$242.33M	USD	1 Quarter
Net sales	`Revenues`	$232.68M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$104.23M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$106.34M	USD	1 Quarter
Gross profit	`GrossProfit`	$128.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$135.99M	USD	1 Quarter
Selling and administrative expense	`SellingGeneralAndAdministrativeExpense`	$102.88M	USD	1 Quarter
Selling and administrative expense	`SellingGeneralAndAdministrativeExpense`	$98.34M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$10.67M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$10.03M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$113.55M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$108.37M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$20.08M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$22.44M	USD	1 Quarter
Interest expense	`InterestExpense`	$10.35M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.73M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.45M	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-129.00K	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$2.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.97M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.86M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$10.74M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$16.41M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.47	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.31	USD	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	29.43M	shares	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	28.97M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.38M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.16M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.97M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.86M	USD	1 Quarter
Depreciation	`Depreciation`	$4.03M	USD	1 Quarter
Depreciation	`Depreciation`	$4.76M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$2.50M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$880.00K	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$1.06M	USD	1 Quarter
Amortization	`OtherAmortizationOfDeferredCharges`	$12.80M	USD	1 Quarter
Amortization	`OtherAmortizationOfDeferredCharges`	$13.52M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.39M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.46M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.69M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$177.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$163.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-11.96M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$11.64M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$21.86M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.80M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.21M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-8.96M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-14.97M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.13M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-3.09M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.78M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$22.34M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$328.00K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.69M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.11M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.11M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.69M	USD	1 Quarter
Payments on term loan	`RepaymentsOfSeniorDebt`	$2.98M	USD	1 Quarter
Payments on term loan	`RepaymentsOfSeniorDebt`	$3.31M	USD	1 Quarter
Payments on revolving line of credit	`RepaymentsOfLinesOfCredit`	$72.00M	USD	1 Quarter
Payments on revolving line of credit	`RepaymentsOfLinesOfCredit`	$99.00M	USD	1 Quarter
Proceeds from revolving line of credit	`ProceedsFromLinesOfCredit`	$64.00M	USD	1 Quarter
Proceeds from revolving line of credit	`ProceedsFromLinesOfCredit`	$110.00M	USD	1 Quarter
Payments related to contingent consideration	`PaymentsForContingentConsideration`	$798.00K	USD	1 Quarter
Payments related to contingent consideration	`PaymentsForContingentConsideration`	-	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$5.87M	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$5.78M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$8.22M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$6.14M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.87M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.49M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-950.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-113.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.02M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.41M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.85M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.86M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.77M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.86M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.77M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$5.90M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$5.81M	USD	Point-in-time

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
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
Balance at period start	`StockholdersEquity`	$709.04M	USD	Point-in-time
Balance at period start	`StockholdersEquity`	$725.57M	USD	Point-in-time
Balance at period start	`StockholdersEquity`	$785.43M	USD	Point-in-time
Balance at period start	`StockholdersEquity`	$789.55M	USD	Point-in-time
Common stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$6.25M	USD	1 Quarter
Common stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$8.21M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.46M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.39M	USD	1 Quarter
Dividends on common stock ($0.20 per share)	`DividendsCommonStockCash`	$5.81M	USD	1 Quarter
Dividends on common stock ($0.20 per share)	`DividendsCommonStockCash`	$5.90M	USD	1 Quarter
Cash flow hedging gain, net	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$1.08M	USD	1 Quarter
Cash flow hedging gain, net	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$3.93M	USD	1 Quarter
Pension liability, net of income tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-521.00K	USD	1 Quarter
Pension liability, net of income tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-631.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.67M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-163.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.97M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.86M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$16.41M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$10.74M	USD	1 Quarter
Balance at period end	`StockholdersEquity`	$709.04M	USD	Point-in-time
Balance at period end	`StockholdersEquity`	$725.57M	USD	Point-in-time
Balance at period end	`StockholdersEquity`	$785.43M	USD	Point-in-time
Balance at period end	`StockholdersEquity`	$789.55M	USD	Point-in-time

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