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10-Q Filing

GLOBUS MEDICAL INC CIK: 1237831 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001237831-17-000020
Period End Date 20170331
Filing Date 20170504
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance gmed-20170331.xml
Filing Contents
Balance Sheet 75 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $3.63M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $2.51M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $182.44M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $60.15M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $132.64M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $81.28M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $477.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $477.00K USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $166.71M USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $173.89M USD Point-in-time
Short-term marketable securities AvailableForSaleSecuritiesCurrent $143.66M USD Point-in-time
Short-term marketable securities AvailableForSaleSecuritiesCurrent $157.67M USD Point-in-time
Accounts receivable, net of allowances of $3,627 and $2,771, respectively AccountsReceivableNetCurrent $91.98M USD Point-in-time
Accounts receivable, net of allowances of $3,627 and $2,771, respectively AccountsReceivableNetCurrent $94.23M USD Point-in-time
Inventories InventoryNet $113.04M USD Point-in-time
Inventories InventoryNet $112.69M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 785.00M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $14.50M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $7.01M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 95.93M shares Point-in-time
Income taxes receivable IncomeTaxesReceivable $47.00K USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 96.08M shares Point-in-time
Income taxes receivable IncomeTaxesReceivable $3.80M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 96.08M shares Point-in-time
Total current assets AssetsCurrent $540.90M USD Point-in-time
Total current assets AssetsCurrent $513.77M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 95.93M shares Point-in-time
Property and equipment, net of accumulated depreciation of $173,890 and $166,711, respectively PropertyPlantAndEquipmentNet $124.23M USD Point-in-time
Property and equipment, net of accumulated depreciation of $173,890 and $166,711, respectively PropertyPlantAndEquipmentNet $124.84M USD Point-in-time
Long-term marketable securities AvailableForSaleSecuritiesNoncurrent $60.44M USD Point-in-time
Long-term marketable securities AvailableForSaleSecuritiesNoncurrent $63.07M USD Point-in-time
Note receivable NotesAndLoansReceivableGrossNoncurrent $30.00M USD Point-in-time
Note receivable NotesAndLoansReceivableGrossNoncurrent $30.00M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $61.71M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $61.34M USD Point-in-time
Goodwill Goodwill $106.22M USD Point-in-time
Goodwill Goodwill $105.93M USD Point-in-time
Other assets OtherAssetsNoncurrent $954.00K USD Point-in-time
Other assets OtherAssetsNoncurrent $928.00K USD Point-in-time
Deferred income taxes DeferredTaxAssetsLiabilitiesNetNoncurrent $33.10M USD Point-in-time
Deferred income taxes DeferredTaxAssetsLiabilitiesNetNoncurrent $30.64M USD Point-in-time
Total assets Assets $927.64M USD Point-in-time
Total assets Assets $960.42M USD Point-in-time
Accounts payable AccountsPayableCurrent $17.01M USD Point-in-time
Accounts payable AccountsPayableCurrent $17.47M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $46.40M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $37.41M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $11.71M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.91M USD Point-in-time
Business acquisition liabilities, current BusinessAcquisitionLiabilitiesCurrent $9.24M USD Point-in-time
Business acquisition liabilities, current BusinessAcquisitionLiabilitiesCurrent $14.11M USD Point-in-time
Total current liabilities LiabilitiesCurrent $75.37M USD Point-in-time
Total current liabilities LiabilitiesCurrent $79.89M USD Point-in-time
Business acquisition liabilities, net of current portion BusinessAcquisitionLiabilitiesNoncurrent $6.09M USD Point-in-time
Business acquisition liabilities, net of current portion BusinessAcquisitionLiabilitiesNoncurrent $5.97M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $7.88M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $8.26M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.82M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.82M USD Point-in-time
Total liabilities Liabilities $91.54M USD Point-in-time
Total liabilities Liabilities $95.56M USD Point-in-time
Commitments and contingencies (Note 13) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 13) CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $217.26M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $211.72M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-6.08M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-8.64M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.96M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.65M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $628.90M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $657.61M USD Point-in-time
Total equity StockholdersEquity $868.88M USD Point-in-time
Total equity StockholdersEquity $832.08M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $927.64M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $960.42M USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Sales SalesRevenueNet $139.26M USD 1 Quarter
Sales SalesRevenueNet $155.81M USD 1 Quarter
Cost of goods sold CostOfGoodsSold $31.52M USD 1 Quarter
Cost of goods sold CostOfGoodsSold $35.60M USD 1 Quarter
Gross profit GrossProfit $107.75M USD 1 Quarter
Gross profit GrossProfit $120.21M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $10.03M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $10.67M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $53.80M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $67.06M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $1.78M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $392.00K USD 1 Quarter
Acquisition related costs BusinessCombinationIntegrationRelatedCosts $388.00K USD 1 Quarter
Acquisition related costs BusinessCombinationIntegrationRelatedCosts $674.00K USD 1 Quarter
Total operating expenses OperatingExpenses $79.89M USD 1 Quarter
Total operating expenses OperatingExpenses $64.89M USD 1 Quarter
Operating Income OperatingIncomeLoss $40.31M USD 1 Quarter
Operating Income OperatingIncomeLoss $42.85M USD 1 Quarter
Interest income, net InterestIncomeExpenseNet $496.00K USD 1 Quarter
Interest income, net InterestIncomeExpenseNet $1.42M USD 1 Quarter
Foreign currency transaction gain ForeignCurrencyTransactionGainLossBeforeTax $548.00K USD 1 Quarter
Foreign currency transaction gain ForeignCurrencyTransactionGainLossBeforeTax $108.00K USD 1 Quarter
Other income OtherNonoperatingIncome $134.00K USD 1 Quarter
Other income OtherNonoperatingIncome $156.00K USD 1 Quarter
Total other income, net OtherNonoperatingIncomeExpense $760.00K USD 1 Quarter
Total other income, net OtherNonoperatingIncomeExpense $2.10M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $43.61M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $42.41M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $13.70M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $15.60M USD 1 Quarter
Net Income NetIncomeLoss $28.71M USD 1 Quarter
Net Income NetIncomeLoss $28.01M USD 1 Quarter
Basic EarningsPerShareBasic $0.29 USD 1 Quarter
Basic EarningsPerShareBasic $0.30 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.29 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.30 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 96.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 95.40M shares 1 Quarter
Dilutive stock options IncrementalCommonSharesAttributableToShareBasedPaymentArrangements 895,000.00 shares 1 Quarter
Dilutive stock options IncrementalCommonSharesAttributableToShareBasedPaymentArrangements 1.15M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 96.29M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 97.15M shares 1 Quarter
Anti-dilutive stock options excluded from weighted average calculation AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount 5.76M shares 1 Quarter
Anti-dilutive stock options excluded from weighted average calculation AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount 5.21M shares 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $28.71M USD 1 Quarter
Net income NetIncomeLoss $28.01M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $12.24M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $6.68M USD 1 Quarter
Amortization of premium on marketable securities InvestmentIncomeAmortizationOfPremium $1.01M USD 1 Quarter
Amortization of premium on marketable securities InvestmentIncomeAmortizationOfPremium $953.00K USD 1 Quarter
Write-down for excess and obsolete inventories InventoryWriteDown $2.23M USD 1 Quarter
Write-down for excess and obsolete inventories InventoryWriteDown $1.67M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.77M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $3.49M USD 1 Quarter
Allowance for doubtful accounts ProvisionForDoubtfulAccounts $794.00K USD 1 Quarter
Allowance for doubtful accounts ProvisionForDoubtfulAccounts $88.00K USD 1 Quarter
Change in fair value of contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 - USD 1 Quarter
Change in fair value of contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $478.00K USD 1 Quarter
Change in deferred income taxes DeferredIncomeTaxesAndTaxCredits $-2.40M USD 1 Quarter
Change in deferred income taxes DeferredIncomeTaxesAndTaxCredits $391.00K USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCash $-15.67M USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCash - USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-2.20M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $2.23M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $2.25M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $2.10M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-8.63M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-1.21M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-172.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-1.24M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-10.17M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-15.66M USD 1 Quarter
Income taxes payable/receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $14.52M USD 1 Quarter
Income taxes payable/receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $13.49M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $55.56M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $53.45M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireInvestments $51.22M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireInvestments $104.21M USD 1 Quarter
Maturities of marketable securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $55.28M USD 1 Quarter
Maturities of marketable securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $69.66M USD 1 Quarter
Sales of marketable securities ProceedsFromSaleOfAvailableForSaleSecurities $6.50M USD 1 Quarter
Sales of marketable securities ProceedsFromSaleOfAvailableForSaleSecurities $7.80M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $11.53M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $9.37M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-963.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-36.12M USD 1 Quarter
Payment of business acquisition liabilities PaymentOfBusinessAcquisitionLiabilities $300.00K USD 1 Quarter
Payment of business acquisition liabilities PaymentOfBusinessAcquisitionLiabilities $5.00M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $1.90M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $1.99M USD 1 Quarter
Net cash (used in)/provided by financing activities NetCashProvidedByUsedInFinancingActivities $-3.01M USD 1 Quarter
Net cash (used in)/provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.59M USD 1 Quarter
Effect of foreign exchange rate on cash EffectOfExchangeRateOnCashAndCashEquivalents $321.00K USD 1 Quarter
Effect of foreign exchange rate on cash EffectOfExchangeRateOnCashAndCashEquivalents $91.00K USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $21.12M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $49.80M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $182.44M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $60.15M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $132.64M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $81.28M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $182.44M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $60.15M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $132.64M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $81.28M USD Point-in-time
Interest paid InterestPaid $8.00K USD 1 Quarter
Interest paid InterestPaid $1.00K USD 1 Quarter
Income taxes paid IncomeTaxesPaid $774.00K USD 1 Quarter
Income taxes paid IncomeTaxesPaid $2.66M USD 1 Quarter
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $28.71M USD 1 Quarter
Net income NetIncomeLoss $28.01M USD 1 Quarter
Unrealized gain on marketable securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $224.00K USD 1 Quarter
Unrealized gain on marketable securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $120.00K USD 1 Quarter
Foreign currency translation gain OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $2.44M USD 1 Quarter
Foreign currency translation gain OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $81.00K USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $2.56M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $305.00K USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTax $31.27M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTax $28.32M USD 1 Quarter

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

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