2024 Q3 Form 10-Q Financial Statement

#000091752024000094 Filed on July 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $380.8M $418.2M
YoY Change -0.41% 9.68%
Cost Of Revenue $180.6M $192.3M
YoY Change 10.07% 36.26%
Gross Profit $200.2M $225.9M
YoY Change -8.29% -5.94%
Gross Profit Margin 52.58% 54.02%
Selling, General & Admin $177.2M $195.5M
YoY Change 9.41% 24.85%
% of Gross Profit 88.49% 86.52%
Research & Development $27.44M $29.77M
YoY Change 3.15% 33.03%
% of Gross Profit 13.7% 13.18%
Depreciation & Amortization $3.760M $3.707M
YoY Change -87.67% -87.97%
% of Gross Profit 1.88% 1.64%
Operating Expenses $204.6M $225.2M
YoY Change 8.53% 23.78%
Operating Profit -$8.150M -$3.029M
YoY Change -130.65% -105.2%
Interest Expense -$14.32M -$13.59M
YoY Change -209.66% 59.45%
% of Operating Profit
Other Income/Expense, Net $2.112M $1.437M
YoY Change 348.41% -609.57%
Pretax Income -$20.36M -$15.19M
YoY Change -209.42% -497.1%
Income Tax -$9.667M -$2.783M
% Of Pretax Income
Net Earnings -$10.70M -$12.40M
YoY Change -154.85% -396.41%
Net Earnings / Revenue -2.81% -2.97%
Basic Earnings Per Share -$0.14 -$0.16
Diluted Earnings Per Share -$0.14 -$0.16
COMMON SHARES
Basic Shares Outstanding 77.58M shares 78.80M shares
Diluted Shares Outstanding 76.45M shares 77.41M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $277.6M $296.9M
YoY Change 1.42% -3.97%
Cash & Equivalents $215.2M $215.2M
Short-Term Investments $62.44M $81.69M
Other Short-Term Assets $50.37M $28.79M
YoY Change -58.23% -75.9%
Inventory $436.9M $421.8M
Prepaid Expenses $86.33M $93.64M
Receivables $248.3M $271.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.100B $1.112B
YoY Change 7.04% 5.81%
LONG-TERM ASSETS
Property, Plant & Equipment $390.9M $373.6M
YoY Change 22.65% -19.87%
Goodwill $1.117B $1.105B
YoY Change 7.76% 5.88%
Intangibles $1.210B $1.220B
YoY Change 13.36% 11.55%
Long-Term Investments
YoY Change
Other Assets $54.01M $70.82M
YoY Change -30.67% -42.54%
Total Long-Term Assets $2.966B $2.962B
YoY Change 9.37% 8.65%
TOTAL ASSETS
Total Short-Term Assets $1.100B $1.112B
Total Long-Term Assets $2.966B $2.962B
Total Assets $4.066B $4.074B
YoY Change 8.73% 7.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $77.67M $107.5M
YoY Change -17.02% 7.74%
Accrued Expenses $131.9M $102.5M
YoY Change 46.1% -41.04%
Deferred Revenue $10.00M $9.900M
YoY Change 23.46% 19.28%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $601.5M $24.22M
YoY Change 604.34% -74.68%
Total Short-Term Liabilities $912.6M $328.3M
YoY Change 156.55% -13.03%
LONG-TERM LIABILITIES
Long-Term Debt $1.205B $1.801B
YoY Change -15.11% 35.07%
Other Long-Term Liabilities $189.8M $154.8M
YoY Change 33.34% -50.52%
Total Long-Term Liabilities $189.8M $154.8M
YoY Change 33.34% -90.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $912.6M $328.3M
Total Long-Term Liabilities $189.8M $154.8M
Total Liabilities $2.544B $2.540B
YoY Change 17.78% 21.29%
SHAREHOLDERS EQUITY
Retained Earnings $920.5M $931.2M
YoY Change -0.71% 2.61%
Common Stock $1.318B $1.302B
YoY Change 4.32% 1.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.522B $1.534B
YoY Change
Total Liabilities & Shareholders Equity $4.066B $4.074B
YoY Change 8.73% 7.86%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$10.70M -$12.40M
YoY Change -154.85% -396.41%
Depreciation, Depletion And Amortization $3.760M $3.707M
YoY Change -87.67% -87.97%
Cash From Operating Activities $22.49M $40.40M
YoY Change -16.1% 42.87%
INVESTING ACTIVITIES
Capital Expenditures $29.65M $29.71M
YoY Change 128.05% 91.07%
Acquisitions
YoY Change
Other Investing Activities $19.25M -$292.5M
YoY Change 256.48%
Cash From Investing Activities -$10.40M -$322.2M
YoY Change 36.79% 1972.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.91M -93.75M
YoY Change -59.85% 776.72%
NET CHANGE
Cash From Operating Activities 22.49M 40.40M
Cash From Investing Activities -10.40M -322.2M
Cash From Financing Activities -19.91M -93.75M
Net Change In Cash -7.826M -375.5M
YoY Change -74.26% -18527.13%
FREE CASH FLOW
Cash From Operating Activities $22.49M $40.40M
Capital Expenditures $29.65M $29.71M
Free Cash Flow -$7.161M $10.69M
YoY Change -151.89% -16.0%

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CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
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CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
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CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
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CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
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CY2024Q2 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
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CY2023Q4 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
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CY2024Q2 us-gaap Inventory Net
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CY2023Q4 us-gaap Inventory Net
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CY2023Q4 us-gaap Goodwill
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CY2024Q2 us-gaap Goodwill
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1902738000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2024Q2 iart Definite And Indefinite Lived Intangible Assets Net Excluding Goodwill
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1219942000 usd
CY2023Q4 iart Cost Of Definite And Indefinite Lived Intangible Assets Gross Excluding Goodwill
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1729837000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2023Q4 iart Definite And Indefinite Lived Intangible Assets Net Excluding Goodwill
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CY2024Q2 us-gaap Adjustment For Amortization
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us-gaap Adjustment For Amortization
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CY2023Q2 us-gaap Adjustment For Amortization
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us-gaap Adjustment For Amortization
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2024Q2 iart Long Term Debt Maturity After Year Three
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CY2024Q2 us-gaap Long Term Debt
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CY2024Q2 iart Interest Payments Reminder Of Fiscal Year
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CY2024Q2 iart Interest Payments Year One
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CY2024Q2 iart Interest Payments Year Two
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CY2024Q2 iart Interest Payments Year Three
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CY2024Q2 iart Interest Payments After Year Three
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CY2024Q2 iart Transferors Interests In Transferred Financial Assets Maximum Investment Limit
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CY2023Q4 iart Transferors Interests In Transferred Financial Assets Issuance Costs
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CY2023Q4 iart Debt Instrument Securitization Facility Agreement Term
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CY2023Q4 iart Transferors Interests In Transferred Financial Assets Unamortized Issuance Costs
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CY2023Q4 iart Debt Instrument Securitization Facility Agreement Term
DebtInstrumentSecuritizationFacilityAgreementTerm
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CY2024Q2 iart Secured Long Term Debt Securitization Program
SecuredLongTermDebtSecuritizationProgram
77700000 usd
CY2023Q4 iart Secured Long Term Debt Securitization Program
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89200000 usd
CY2024Q2 iart Debt Weighted Average Interest Rate From Securitization
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0.068
CY2023Q4 iart Debt Weighted Average Interest Rate From Securitization
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CY2024Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
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CY2023Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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588000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
408000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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643000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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CY2024Q2 us-gaap Defined Benefit Plan Service Cost
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us-gaap Defined Benefit Plan Service Cost
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CY2023Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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CY2023Q2 us-gaap Defined Benefit Plan Service Cost
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500000 usd
us-gaap Defined Benefit Plan Service Cost
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1100000 usd
CY2024Q2 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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41700000 usd
CY2023Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
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iart Defined Benefit Plan Defer Payment And Taxation Base Salary Percentage
DefinedBenefitPlanDeferPaymentAndTaxationBaseSalaryPercentage
0.75
iart Defined Benefit Plan Defer Payment And Taxation Bonus And Other Compensation Percentage
DefinedBenefitPlanDeferPaymentAndTaxationBonusAndOtherCompensationPercentage
1
CY2024Q2 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
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CY2023Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
6100000 usd
iart Lessee Operating Lease Number Of Renewal Options
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us-gaap Operating Lease Expense
OperatingLeaseExpense
12800000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
11800000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2024Q2 us-gaap Operating Lease Liability Current
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2024Q2 us-gaap Operating Lease Liability
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CY2023Q4 us-gaap Operating Lease Liability
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us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2024Q2 us-gaap Operating Lease Liability
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CY2024Q2 us-gaap Operating Lease Liability Current
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CY2024Q2 us-gaap Asset Impairment Charges
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CY2024Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2024Q2 us-gaap Operating Lease Impairment Loss
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CY2024Q2 us-gaap Impairment Of Long Lived Assets Held For Use
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2900000 usd
CY2024Q2 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
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CY2023Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
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CY2024Q2 us-gaap Treasury Stock Common Value
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CY2023Q4 us-gaap Treasury Stock Common Value
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us-gaap Treasury Stock Acquired Average Cost Per Share
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CY2023 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
50.76
CY2024Q2 us-gaap Accelerated Share Repurchases Settlement Payment Or Receipt
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CY2024Q2 iart Accelerated Share Repurchases Shares Received At Inception
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1300000 shares
CY2024Q2 iart Accelerated Share Repurchases Percentage Of Expected Total Repurchased
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CY2023Q3 us-gaap Accelerated Share Repurchases Settlement Payment Or Receipt
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CY2023Q3 iart Accelerated Share Repurchases Shares Received At Inception
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2300000 shares
CY2023Q3 iart Accelerated Share Repurchases Percentage Of Expected Total Repurchased
AcceleratedShareRepurchasesPercentageOfExpectedTotalRepurchased
0.80
CY2023Q4 iart Accelerated Share Repurchases Additional Shares Received
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900000 shares
CY2023Q1 us-gaap Accelerated Share Repurchases Settlement Payment Or Receipt
AcceleratedShareRepurchasesSettlementPaymentOrReceipt
150000000 usd
CY2023Q1 iart Accelerated Share Repurchases Shares Received At Inception
AcceleratedShareRepurchasesSharesReceivedAtInception
2100000 shares
CY2023Q1 iart Accelerated Share Repurchases Percentage Of Expected Total Repurchased
AcceleratedShareRepurchasesPercentageOfExpectedTotalRepurchased
0.80
CY2023Q2 iart Accelerated Share Repurchases Additional Shares Received
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CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.183
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q2 us-gaap Income Tax Reconciliation Tax Credits Research
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
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us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
300000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-12402000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
4184000 usd
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
28410000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80966000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81418000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2024Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
4184000 usd
us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80966000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77572000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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81151000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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77572000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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81739000 shares
CY2024Q2 us-gaap Earnings Per Share Diluted
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CY2023Q2 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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0.35
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1300000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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600000 shares
CY2024Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
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CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2024Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
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594000 usd
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7561000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
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4330000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
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1069000 usd
CY2024Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
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CY2023Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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CY2024Q2 us-gaap Comprehensive Income Net Of Tax
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CY2023Q2 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Number Of Reportable Segments
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us-gaap Number Of Reportable Segments
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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762113000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
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3707000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
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3026000 usd
us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2024Q2 us-gaap Operating Income Loss
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CY2023Q2 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q2 ecd Rule10b51 Arr Adopted Flag
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CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
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Files In Submission

Name View Source Status
0000917520-24-000094-index-headers.html Edgar Link pending
0000917520-24-000094-index.html Edgar Link pending
0000917520-24-000094.txt Edgar Link pending
0000917520-24-000094-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
iart-20240630.htm Edgar Link pending
iart-20240630.xsd Edgar Link pending
iart-20240630xexx311.htm Edgar Link pending
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iart-20240630_cal.xml Edgar Link unprocessable
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report.css Edgar Link pending
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