0001562762-24-000199 | 10-Q | XBRL Viewer

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS

6 Months Ended

Jun. 30, 2024

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS [Abstract]

Asset Acquisitions And Business Combinations

NOTE 3. ASSET ACQUISITIONS AND BUSINESS COMBINATIONS

Asset Acquisitions

During the first quarter of 2024, the Company completed a share acquisition of a biotech company focused on research and development for hemostasis solutions. The fair value of the assets acquired are concentrated in a similar identified asset, IPR&D of the acquired technology, thus satisfying the requirements of the screen test in ASC 805, Business Combinations. At the date of the acquisitions, the Company determined that the development of the projects underway had not yet reached technological feasibility and that the research in process had no alternative future use. Accordingly, the acquired IPR&D of $12.6 million was charged to research and development expense in the condensed consolidated statements of operations and comprehensive income. The purchase price consisted of $12.0 million of cash paid at closing. The transaction also provides for $12.0 million contingent consideration which is payable upon meeting the Good Manufacturing Process milestones, as promulgated by the U.S. Food and Drug Administration (the “FDA”), and consideration of $10.0 million contingent upon the developed products obtaining approval from the FDA. Contingent consideration will not be recorded in this asset acquisition until the milestone is met.

Business Combinations

During the second quarter of 2024, the Company completed one acquisition that was not material to the overall condensed consolidated financial statements during the periods presented. This acquisition has been included in the condensed consolidated financial statements from the date of acquisition. The purchase price consisted of approximately $0.1 million of cash paid at closing and $1.9 million in contingent consideration payments, resulting in goodwill of $2.0 million based on the estimated fair values. The contingent payments for this acquisition are based upon achieving various performance milestones over a period of 5 years and are payable in cash.

During the first quarter of 2024, the Company completed one acquisition that was not material to the overall condensed consolidated financial statements during the periods presented. This acquisition has been included in the condensed consolidated financial statements from the date of acquisition. The purchase price consisted of approximately $0.5 million of cash paid at closing and $19.1 million of contingent consideration payments, resulting in goodwill of $17.9 million and reacquired rights of $1.8 million based on the estimated fair values. The contingent payments for this acquisition are based upon achieving various performance milestones over a period of 10 years and are payable in a combination of cash and RSUs.

During the first quarter of 2023, the Company completed one acquisition that was not material to the condensed consolidated financial statements and has been included in our financial statements from the date of acquisition. The purchase price consisted of approximately $1.4 million of cash. The Company recorded identifiable assets of $0.4 million of instruments and $1.0 million of inventory.

During the fourth quarter of 2022, the Company acquired the membership interests of Harvest Biologics LLC, which engages in the business of selling systems that produce autologous biologics. The purchase price consisted of approximately $30.0 million of cash paid at closing, plus $1.4 million of preliminary post-closing adjustments. The Company recorded identifiable net assets, based on their estimated fair values, for inventory of $3.3 million, goodwill of $15.2 million, customer relationships and other intangibles of $10.5 million with a weighted average useful life of 20 years, and developed technology of $2.4 million with a weighted average useful life of 8 years. The Company will finalize the purchase price allocation of the assets and liabilities acquired within one year from the date of acquisition.

During the second quarter of 2022, the Company completed one acquisition that was not material to the overall condensed consolidated financial statements during the periods presented. This acquisition has been included in the condensed consolidated financial statements from the date of acquisition. The purchase price consisted of approximately $0.2 million of cash paid at closing and $4.4 million of contingent consideration payments, resulting in goodwill of $4.6 million based on the estimated fair values. The contingent payments for this acquisition are based upon achieving various performance milestones over a period of 10 years and are payable in a combination of cash and RSUs.

NuVasive Merger

On September 1, 2023, the Company merged with NuVasive, Inc. (“NuVasive”) and Zebra Merger Sub Inc., a wholly owned subsidiary of the Company (“Merger Sub”). Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into NuVasive (the “Merger”), with NuVasive surviving as a wholly owned subsidiary of the Company. Upon the consummation of the Merger, each issued and outstanding share of common stock of NuVasive, $0.001 par value per share, was converted into 0.75 fully paid and non-assessable shares of the Company’s Class A Common Stock, and the right to receive cash in lieu of fractional shares.

As part of the Merger, the Company assumed equity awards for certain NuVasive RSUs and NuVasive PRSUs in accordance with the terms of the Merger Agreement. Certain awards included a change in control provision (single trigger) which accelerated the vesting of the awards on the closing date of the Merger. These awards were considered as part of the total purchase price. The unvested awards will continue to vest in accordance with the terms of the original award agreement, except for certain PRSUs that were converted into RSUs. Once vested, the holders will receive shares of the Company’s Class A Common Stock. Of the total consideration for the assumed equity awards, $28.6 million was allocated to the purchase price and $42.3 million was deemed compensatory as it was attributable to post acquisition vesting. Of the $42.3 million of total compensation related to the assumed awards, $12.9 million was expensed on the acquisition date due to accelerated vesting of the awards, recognized as Merger related costs, and $29.4 million relates to future services and will be expensed over the remaining service periods of the unvested awards on a straight-line basis. Of the $29.4 million related to future services, $13.6 million of expense has been recognized as of June 30, 2024.

Concurrently with the Merger, the Company repaid the outstanding $420.8 million under NuVasive’s revolving senior credit facility in addition to assuming the 0.375% Senior Convertible Notes due 2025 (“2025 Notes”), the privately negotiated call options (“2025 Hedge”) and the privately negotiated warrants (“2025 Warrants”).

The aggregate consideration in connection with the closing of the Merger was as follows:


(In thousands)
NuVasive shares outstanding as of September 1, 2023		52,451
NuVasive accelerated equity awards		632
Globus exchange ratio		0.75
Globus Class A Common Stock issued in exchange for NuVasive shares		39,813
Globus closing share price	$	54.10
Total Value Class A Common Stock	$	2,153,860

2025 Warrants		579
Repayment of revolving credit facility		420,762
Fair value of assumed equity awards		28,635
Total purchase price	$	2,603,836

We accounted for the Merger using the acquisition method of accounting, which requires the NuVasive assets and liabilities to be recorded on our balance sheet at fair value as of the acquisition date. We will complete a final determination of the fair value of certain assets and liabilities within the one-year measurement period from the date of the acquisition as required by FASB ASC Topic 805, “Business Combinations”. The preliminary fair value estimates for the assets acquired and liabilities assumed were based upon preliminary calculations, valuations, and assumptions that are subject to change as the Company obtains additional information during the measurement period. The following table summarizes the preliminary purchase price allocation for the Merger as of September 30, 2023:


(In thousands)	Preliminary Purchase Price Allocation as of September 1, 2023		Measurement Period and Other Adjustments		Purchase Price Allocation as of June 30, 2024 (as adjusted)
Current assets (excluding accounts receivable and inventories)	$	158,112	$	38	$	158,150
Accounts receivable		249,591		(6,912)		242,679
Inventories		570,300		(12,266)		558,034
Property, plant, and equipment		361,118		598		361,716
Operating lease ROU asset		90,457		(32,174)		58,283
Intangible assets		1,222,000		(323,000)		899,000
Other long-term assets		25,973		13,111		39,084
Deferred income taxes		4,837		977		5,814
Total Assets	$	2,682,388	$	(359,628)	$	2,322,760

Current Liabilities		185,175		(605)		184,570
Operating lease liabilities, including current portion		109,110		(7,758)		101,352
Business acquisition liabilities, including current portion		66,873		—		66,873
Senior convertible notes		409,500		—		409,500
Deferred income taxes and other tax liabilities		194,553		(16,035)		178,518
Other liabilities		37,496		(23,797)		13,699
Total liabilities	$	1,002,707	$	(48,195)	$	954,512

Fair value of acquired identifiable assets and liabilities	$	1,679,681	$	(311,433)	$	1,368,248

Purchase price	$	2,603,836			$	2,603,836
Less: Fair value of acquired identifiable assets and liabilities		(1,679,681)				(1,368,248)
Goodwill	$	924,155			$	1,235,588

The excess of the purchase price over the net tangible and intangible assets is recorded to Goodwill and primarily reflects the assembled workforce and expected synergies. The majority of goodwill is non-deductible for tax purposes.

Details of our valuation methodology and significant inputs for fair value measurements are included below. The fair value measurements for property, plant and equipment and intangible assets are based on significant inputs that are not observable in the market and, therefore, represent Level 3 measurements.

The preliminary fair value of work-in-process and finished goods inventory utilizes a sales comparison approach which estimates the selling price of the inventory in completed condition less costs of disposal and a reasonable profit allowance for the selling effort.

The preliminary fair value of property and equipment utilizes a combination of the cost approach, income approach, and sales comparison approach less amounts for capitalized research and development costs existing on NuVasive’s closing balance sheet.

The preliminary fair value of the identifiable intangible assets was determined using variations of the income approach, namely the multi-period excess earnings and relief from royalty methodologies. The most significant assumptions applied in the development of the intangible asset fair values include: the amount and timing of future cash flows, the selection of discount and royalty rates, and the assessment of the asset’s economic life.

The identifiable intangible assets acquired are amortized on a straight-line basis over their estimated useful lives. The following table summarizes the estimated fair value of NuVasive’s identifiable intangible assets acquired and their amortization period (in years):

	Fair Value as of
(In thousands)	June 30, 2024		Useful Life
Developed Technology	$	607,000	8
Customer Relationships		292,000	11

Preliminary fair value of the 2025 Notes was determined using the publicly traded price.

NuVasive’s results have been included in the Company’s financial statements for the period subsequent to the date of the acquisition on September 1, 2023. Due to the continuing integration of NuVasive’s operations into the Company, it is impractical to determine NuVasive’s net income/loss during the current period, which is included in the Company’s Net Income.

EQUITY

6 Months Ended

Jun. 30, 2024

EQUITY [Abstract]

Equity

NOTE 12. EQUITY

Share Repurchases

On March 11, 2020, the Company announced a share repurchase program, which authorized the Company to repurchase up to $200.0 million of the Company’s Class A common stock (“Class A Common”). On March 4, 2022, the share repurchase program was expanded by authorizing the Company to repurchase an additional $200.0 million of the Company’s Class A Common. On September 27, 2023, the share repurchase program was expanded by authorizing the Company to repurchase an additional $350.0 million of the Company’s Class A Common. The repurchase program has no time limit and may be suspended for periods or discontinued at any time. The Company repurchased 29.6 thousand and 1.6 million shares under this program at an average price of $49.67 and $52.14, for a total dollar amount of $1.5 million and $84.8 million during the three and six months ended June 30, 2024. As of June 30, 2024, the Company has remaining authorization to repurchase a total of $190.3 million of the Company’s Class A Common. The timing and actual number of shares repurchased will depend on various factors including price, corporate and regulatory requirements, debt covenant requirements, alternative investment opportunities and other market conditions. Funding of share repurchases is expected to come from operating cash flows and excess cash.

Shares repurchased by the Company are accounted for under the constructive retirement method, in which the shares repurchased are immediately retired, as there is no plan to reissue the shares. The value of the retired shares includes the 1% excise tax accrual as a result of the Inflation Reduction Act of 2022. The Company made an accounting policy election to charge the excess of repurchase price over par value entirely to retained earnings.

Common Stock

Our amended and restated Certificate of Incorporation provides for a total of 775,000,000 authorized shares of common stock. Of the authorized number of shares of common stock, 500,000,000 shares are designated as Class A Common, and 275,000,000 shares are designated as Class B common stock (“Class B Common”).

The holders of Class A Common are entitled to one vote for each share of Class A Common held. The holders of Class B Common are entitled to 10 votes for each share of Class B Common held. Each share of our Class B Common is convertible at any time at the option of the holder into one share of our Class A Common. In addition, each share of our Class B Common will convert automatically into one share of our Class A Common upon any transfer, whether or not for value, except for permitted transfers. For more details relating to the conversion of our Class B Common please see “Exhibit 4.2, Description of Securities of the Registrant” filed with our Annual Report on Form 10-K on February 21, 2024. The holders of Class A Common and Class B Common vote together as one class of common stock. Except for voting rights, the Class A Common and Class B Common have the same rights and privileges.

Accumulated Other Comprehensive Income (Loss)

The tables below present the changes in each component of accumulated other comprehensive income/(loss), including current period other comprehensive income/(loss) and reclassifications out of accumulated other comprehensive income/(loss) for the three months ended June 30, 2024 and 2023, respectively:


(In thousands)	Unrealized loss on marketable securities, net of tax		Foreign currency translation adjustments		Accumulated other comprehensive loss
Accumulated other comprehensive income/(loss), net of tax, at December 31, 2023	$	(1,862)	$	(8,330)	$	(10,192)
Other comprehensive income/(loss) before reclassifications		1,133		(2,530)		(1,397)
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax		(262)		—		(262)
Other comprehensive income/(loss), net of tax		871		(2,530)		(1,659)
Accumulated other comprehensive income/(loss), net of tax, at June 30, 2024	$	(991)	$	(10,860)	$	(11,851)


(In thousands)	Unrealized loss on marketable securities, net of tax		Foreign currency translation adjustments		Accumulated other comprehensive loss
Accumulated other comprehensive income/(loss), net of tax, at December 31, 2022	$	(15,093)	$	(9,537)	$	(24,630)
Other comprehensive income/(loss) before reclassifications		5,657		1,225		6,882
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax		(1,319)		—		(1,319)
Other comprehensive income/(loss), net of tax		4,338		1,225		5,563
Accumulated other comprehensive income/(loss), net of tax, at June 30, 2023	$	(10,755)	$	(8,312)	$	(19,067)

Amounts reclassified from accumulated other comprehensive loss, net of tax, related to unrealized gains/losses on marketable securities were released to other income, net in our condensed consolidated statements of operations and comprehensive income.

Earnings Per Common Share

The Company computes basic earnings per share using the weighted-average number of common shares outstanding during the period. Diluted earnings per share assumes the conversion, exercise or issuance of all potential common stock equivalents, unless the effect of inclusion would be anti-dilutive. For purposes of this calculation, common stock equivalents include the Company’s stock options, unvested RSUs, and PRSUs. These are included in basic net income per share as of the date that all necessary conditions have been satisfied and are included in the denominator for dilutive calculation for the entire period if such shares would be issuable as of the end of the reporting period assuming the end of the reporting period was the end of the contingency period.

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands, except per share amounts)	2024		2023		2024		2023
Numerator:
Net income/(loss) for basic	$	31,760	$	57,712	$	24,643	$	106,841
Dilutive potential net income /(loss)		—		—		—		—
Adjusted net income (loss) for diluted	$	31,760	$	57,712		24,643		106,841
Denominator for basic and diluted net income per share:
Weighted average shares outstanding for basic		135,195		100,373		135,276		100,326
Dilutive stock options, RSUs, and PRSUs		1,784		1,409		1,559		1,663
Weighted average shares outstanding for diluted		136,979		101,782		136,836		101,989
Earnings per share:
Basic	$	0.23	$	0.57	$	0.18	$	1.06
Diluted	$	0.23	$	0.57	$	0.18	$	1.05

Anti-dilutive stock options and RSUs excluded from the calculation		7,809		5,768		7,635		5,576
Anti-dilutive warrants excluded from the calculation		3,618		—		7,236		—
Anti-dilutive Senior Convertible Notes due 2025 excluded from the calculation		3,618		—		7,236		—
Total	$	15,045	$	5,768	$	22,107	$	5,576

In accordance with ASU No. 2020-06, Debt with Conversion and Other Options (Subtopic 470-20), the Company applies the if-converted method in computing the effect of the Company's 2025 Notes on diluted net income per share. For periods in which the Company reports net income, the numerator of the diluted per share computation is adjusted for interest expense and amortization of debt issuance costs, net of tax, and the denominator is adjusted for the weighted average number of shares into which each of the Company’s 2025 Notes could be converted. The effect is only included in the calculation of diluted net income per share for those 2025 Notes which reduce net income per share.

- Definition

The entire disclosure for equity.

+ References

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+ Details

PROPERTY AND EQUIPMENT (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,052,066	$ 1,012,627
Less: accumulated depreciation and amortization	(480,290)	(425,695)
Total	571,776	586,932
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	9,739	9,748
Building And Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 103,873	102,449
Useful Life	31 years 6 months
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 214,422	206,392
Instruments, Modules And Cases [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 698,794	672,018
Useful Life	5 years
Other Property And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 25,238	$ 22,020
Maximum [Member] \| Equipment [Member]
Property, Plant and Equipment [Line Items]
Useful Life	15 years
Maximum [Member] \| Other Property And Equipment [Member]
Property, Plant and Equipment [Line Items]
Useful Life	5 years
Minimum [Member] \| Equipment [Member]
Property, Plant and Equipment [Line Items]
Useful Life	5 years
Minimum [Member] \| Other Property And Equipment [Member]
Property, Plant and Equipment [Line Items]
Useful Life	3 years

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

SEGMENT AND GEOGRAPHIC INFORMATION [Abstract]

Schedule of Total Net Sales and Total Property and Equipment by Geographical Area


	Net Sales
	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)		2024		2023		2024	2023
United States	$	499,459	$	245,490	$	982,386	$	479,609
International		130,232		46,125		253,971		88,694
Total	$	629,691	$	291,615	$	1,236,357	$	568,303

The following table represents total property and equipment, net by geographic area, based on the location of the customer:


	Property and Equipment, Net
		As of
	June 30,		December 31,
(In thousands)	2024		2023
United States	$	522,548	$	527,332
International		49,228		59,600
Total	$	571,776	$	586,932

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 410,424	$ 467,292
Short-term marketable securities	82,509	50,497
Accounts receivable, net of allowances of $19,256 and $8,934, respectively	611,784	503,235
Inventories	770,463	848,135
Prepaid expenses and other current assets	46,213	44,580
Income taxes receivable	2,498	1,635
Total current assets	1,923,891	1,915,374
Property and equipment, net of accumulated depreciation of $480,290 and $425,695, respectively	571,776	586,932
Operating lease right of use assets	53,881	59,931
Long-term marketable securities	27,795	75,428
Intangible assets, net	866,565	924,603
Goodwill	1,454,117	1,434,540
Other assets	77,569	78,590
Deferred income taxes	18,199	10,685
Total assets	4,993,793	5,086,083
Current liabilities:
Accounts payable	67,163	56,671
Accrued expenses	215,885	240,460
Operating lease liabilities	11,118	11,967
Income taxes payable	11,429	3,845
Senior convertible notes	430,485
Business acquisition liabilities	38,221	61,035
Deferred revenue	19,845	18,369
Total current liabilities	794,146	392,347
Business acquisition liabilities, net of current portion	83,111	78,323
Operating lease liabilities	87,702	91,037
Senior convertible notes		417,400
Deferred income taxes and other tax liabilities	27,264	84,421
Other liabilities	25,205	24,596
Total liabilities	1,017,428	1,088,124
Commitments and contingencies (Note 17)
Equity:
Additional paid-in capital	2,913,609	2,870,749
Accumulated other comprehensive income/(loss)	(11,851)	(10,192)
Retained earnings	1,074,472	1,137,266
Total equity	3,976,365	3,997,959
Total liabilities and equity	4,993,793	5,086,083
Common Class A [Member]
Equity:
Common stock	113	114
Common Class B [Member]
Equity:
Common stock	$ 22	$ 22

STOCK-BASED AWARDS (Fair Value of Options Using Black Scholes Option Pricing Model) (Details)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	4.02%	3.45%
Risk-free interest rate, maximum	4.74%	4.10%
Expected term (years)		4 years 8 months 12 days
Expected volatility, minimum	37.00%	35.00%
Expected volatility, maximum	38.90%	38.00%
Expected dividend yield
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	5 years 6 months
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	4 years 8 months 12 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
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+ Details

SEGMENT AND GEOGRAPHIC INFORMATION (Schedule of Total Net Sales and Total Property and Equipment by Geographical Area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 629,691	$ 291,615	$ 1,236,357	$ 568,303
Property and Equipment, Net	571,776		571,776		$ 586,932
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	499,459	245,490	982,386	479,609
Property and Equipment, Net	522,548		522,548		527,332
International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	130,232	$ 46,125	253,971	$ 88,694
Property and Equipment, Net	$ 49,228		$ 49,228		$ 59,600

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

GOODWILL AND INTANGIBLE ASSETS (Summary of Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,060,078	$ 1,062,341
Accumulated amortization	(193,513)	(137,738)
Total intangible assets subject to amortization	866,565	924,603
Total intangible assets, net	$ 866,565	$ 924,603
Supplier Network [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	10 years	10 years
Gross Carrying Amount	$ 4,000	$ 4,000
Accumulated amortization	(3,867)	(3,667)
Total intangible assets subject to amortization	$ 133	$ 333
Customer Relationships & Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	10 years 7 months 6 days	10 years 7 months 6 days
Gross Carrying Amount	$ 352,671	$ 353,849
Accumulated amortization	(67,894)	(54,871)
Total intangible assets subject to amortization	$ 284,777	$ 298,978
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	8 years	8 years
Gross Carrying Amount	$ 694,344	$ 695,226
Accumulated amortization	(116,961)	(74,636)
Total intangible assets subject to amortization	$ 577,383	$ 620,590
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	16 years 1 month 6 days	16 years 1 month 6 days
Gross Carrying Amount	$ 9,063	$ 9,266
Accumulated amortization	(4,791)	(4,564)
Total intangible assets subject to amortization	$ 4,272	$ 4,702

INCOME TAXES

6 Months Ended

Jun. 30, 2024

INCOME TAXES [Abstract]

Income Taxes

NOTE 14. INCOME TAXES

In computing our income tax provision, we make certain estimates and judgments, such as estimated annual taxable income or loss, annual effective tax rate, the nature and timing of permanent and temporary differences between taxable income for financial reporting and tax reporting, and the recoverability of deferred tax assets. Our estimates and assumptions may change as new events occur, additional information is obtained, or as the tax environment changes. Should facts and circumstances change during a quarter causing a material change to the estimated effective income tax rate, a cumulative adjustment is recorded.

The following table provides a summary of our effective tax rate for the three and six months ended June 30, 2024 and 2023, respectively:


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2024	2023	2024	2023
Effective income tax rate	33.2%	22.7%	36.9%	22.5%

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Section 50
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+ Details

LEASES (Narrative) (Details)	6 Months Ended
LEASES (Narrative) (Details)	Jun. 30, 2024
Lessee, Lease, Description [Line Items]
Lease term that are not recognized as right of use assets or lease liabilities	12 months
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lease term	17 years
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lease term	1 year

DEBT (Summary Of Interest Expense) (Details) - 0.375% Senior Convertible Notes due 2025 [Member] - Convertible Debt [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Contractual coupon interest	$ 422	$ 844
Amortization of fair value adjustments for acquisition accounting	6,658	13,315
Total interest expense recognized on Senior Convertible Notes due 2025	$ 7,080	$ 14,160
Effective interest rates:	6.60%	6.60%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
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+ Details

NET SALES

6 Months Ended

Jun. 30, 2024

NET SALES [Abstract]

Net Sales

NOTE 4. NET SALES

The following table represents net sales by product category:



	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Musculoskeletal Solutions	$	592,913	$	256,855	$	1,167,610	$	508,462
Enabling Technologies		36,778		34,760		68,747		59,841
Total net sales	$	629,691	$	291,615	$	1,236,357	$	568,303

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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-URI https://asc.fasb.org//606/tableOfContent

+ Details

LEASES

6 Months Ended

Jun. 30, 2024

LEASES [Abstract]

LEASES

NOTE 16. LEASES

The Company leases certain equipment, vehicles, office and storage facilities via various operating and financing lease agreements. Our leases have initial lease terms ranging from one year to seventeen years. Certain lease agreements require the Company to pay taxes, insurance, and maintenance, and provide for options to extend the term beyond the initial lease termination date. We use judgment to determine whether it is reasonably possible that we will extend the lease beyond the initial term and the length of the possible extension. Leases that have terms of less than 12 months are treated as short-term and we do not recognize right-of-use assets or lease liabilities for such leases. We generally estimate discount rates using our incremental borrowing rate, and based on other information available, at commencement date of a lease when determining the present value of future payments as most of our leases do not provide an implicit rate.

The Company includes financing lease right-of-use assets in other assets, short-term financing lease liabilities in accrued expenses, and long-term financing lease liabilities in other liabilities on the condensed consolidated balance sheet. Operating lease

expense is recognized, on a straight-line basis over the term of the lease, as a component of operating income on the condensed consolidated statement of operations and comprehensive income. Finance leases amortize the right-of-use assets and amortize the interest on the lease liability over the term of the lease.

Amounts reported in the condensed consolidated balance sheet were as follows:


	June 30,		December 31,
(In thousands)	2024		2023
Asset:
Operating lease right-of-use asset	$	53,881	$	59,931
Finance lease right-of-use asset		1,660		797
Total leased assets	$	55,542	$	60,728

Liabilities:
Current:
Operating lease liability		11,118		11,967
Finance lease liability		1,038		475
Long-term:
Operating lease liability		87,702		91,037
Finance lease liability		684		337
Total lease liabilities	$	100,542	$	103,816

The table below summarizes the Company’s lease costs arising from the operating and financing lease obligations:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Lease expense:
Operating lease expense	$	6,593	$	982	$	12,200	$	1,930
Finance lease expense
Depreciation of right-of-use asset		165		—		348		—
Interest expense on lease liabilities		27		—		56		—
Total lease expense	$	6,785	$	982	$	12,604	$	1,930

Future minimum lease payments under non-cancellable leases as of June 30, 2024 are as follows:


(In thousands)		Finance ‎Leases		Operating ‎Leases
Remaining 2024	$	632	$	8,916
2025		849		15,505
2026		314		14,128
2027		18		12,942
2028		4		11,820
Thereafter		—		74,150
Total minimum lease payments	$	1,818	$	137,461
Less: amount representing interest		(97)		(38,641)
Present value of obligations under leases		1,722		98,820
Less: current portion		(1,038)		(11,118)
Long-term lease obligations	$	684	$	87,702

The table below summarizes the Company’s supplemental cash flow information and assumptions used:


	Six Months Ended
	June 30,		June 30,
(In thousands, except weighted average lease term and discount rate)	2024		2023
Other supplemental cash flow information:
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	9,785	$	1,248
Operating cash flows for finance leases		668		—
Financing cash flows for finance leases		611		—
Total cash paid for amounts included in the measurement of lease liabilities	$	11,064	$	1,248

Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	1,507	$	2,527
Financing leases	$	—	$	—
Weighted-average remaining lease term
Operating leases		9.1		2.8
Financing leases		2.4		—
Weighted-average discount rate
Operating leases		5.3%		3.6%
Financing leases		5.0%		—

DEBT (Carrying Value Of Senior Convertible Notes) (Details) - Convertible Debt [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Sep. 01, 2023
Debt Instrument [Line Items]
Principal amount	$ 449,987	$ 449,987	$ 450,000
Unamortized fair value adjustment for acquisition accounting	19,973	33,275
0.375% Senior Convertible Notes due 2025	430,014	416,712
Embedded conversion option	471	687
Debt, net of unamortized fair value adjustments for acquisition accounting	$ 430,485	$ 417,399
Stated interest rate	0.375%	0.375%	0.375%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

BACKGROUND

6 Months Ended

Jun. 30, 2024

BACKGROUND [Abstract]

Background

NOTE 1. BACKGROUND

(a) The Company

Globus Medical, Inc., together with its majority-owned or controlled subsidiaries, is a medical device company that develops and commercializes healthcare solutions with a mission to improve the quality of life of patients with musculoskeletal disorders. We are primarily focused on implants that promote healing in patients with musculoskeletal disorders, including the use of a robotic guidance and navigation system and products to treat patients who have experienced orthopedic traumas.

We are an engineering-driven company with a history of rapidly developing and commercializing advanced products and procedures to assist surgeons in effectively treating their patients and to address new treatment options. With numerous products launched since the founding of the Company, we offer a comprehensive portfolio of innovative and differentiated technologies that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

We are headquartered in Audubon, Pennsylvania, and market and sell our products through our exclusive sales force in the United States, as well as within North, Central & South America, Europe, Asia, Africa and Australia. We sell our products in the U.S. through a sales force comprised primarily of directly-employed and independent sales representatives. Our international sales force is comprised of directly-employed sales personnel, independent sales representatives, as well as exclusive and non-exclusive independent third-party distributors.

The terms the “Company,” “Globus,” “we,” “us” and “our” refer to Globus Medical, Inc. and, where applicable, our consolidated subsidiaries.

(b) NuVasive Merger

Globus Medical was deemed to be the accounting acquirer of NuVasive for accounting purposes under U.S. generally accepted accounting principles (“U.S. GAAP”). Accordingly, prior periods within these condensed consolidated financial statements may not be comparable.

FAIR VALUE MEASUREMENTS (Significant Unobservable Inputs in Valuation Techniques) (Details) - Fair Value, Inputs, Level 3 [Member]

6 Months Ended

Jun. 30, 2024

Revenue Risk Premium [Member] | Maximum [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Business acquisition liabilities, measurement input

0.057

Revenue Risk Premium [Member] | Minimum [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Business acquisition liabilities, measurement input

0.019

Revenue Risk Premium [Member] | Weighted Average [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Business acquisition liabilities, measurement input

0.031

^[1]

Revenue Volatility [Member] | Maximum [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Business acquisition liabilities, measurement input

0.200

Revenue Volatility [Member] | Minimum [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Business acquisition liabilities, measurement input

0.140

Revenue Volatility [Member] | Weighted Average [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Business acquisition liabilities, measurement input

0.150

^[1]

Discount Rate [Member] | Maximum [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Business acquisition liabilities, measurement input

0.085

Discount Rate [Member] | Minimum [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Business acquisition liabilities, measurement input

0.061

Discount Rate [Member] | Weighted Average [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Business acquisition liabilities, measurement input

0.065

^[1]

Probability Of Payment [Member] | Maximum [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Projected year of payment

2032

Probability Of Payment [Member] | Minimum [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Projected year of payment

2024

[1]	The weighted average rates were calculated based on the relative fair value of each business acquisition liability.

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2024

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Measurements

NOTE 6. FAIR VALUE MEASUREMENTS

Assets and liabilities measured at fair value on a recurring basis included the following:



(In thousands)	Balance at ‎June 30, ‎2024		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	243,685	$	243,685	$	—	$	—
Municipal bonds		13,841		—		13,841		—
Corporate debt securities		52,748		—		52,748		—
Asset-backed securities		12,676		—		12,676		—
Government, federal agency, and other sovereign obligations		31,039		—		31,039		—
2025 Hedge		471		—		471		—
Liabilities:
Senior Convertible Notes due 2025		432,159		432,159		—		—
Bifurcated Conversion Option of the Senior Convertible Notes due 2025		471		—		471		—
Business acquisition liabilities		121,332		—		—		121,332



(In thousands)	Balance at ‎December 31, ‎2023		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	203,689	$	203,689	$	—	$	—
Municipal bonds		18,057		—		18,057		—
Corporate debt securities		58,838		—		58,838		—
Asset-backed securities		17,161		—		17,161		—
Government, federal agency, and other sovereign obligations		31,869		2,928		28,941		—
2025 Hedge		687		—		687		—

Liabilities:
Senior Convertible Notes due 2025		417,363		417,363		—		—
Bifurcated Conversion Option of the Senior Convertible Notes due 2025		687		—		687		—
Business acquisition liabilities		139,358		—		—		139,358

Our marketable securities and certain cash equivalents are classified as Level 2 within the fair value hierarchy, as we measure their fair value using market prices for similar instruments and inputs such as actual trade data, benchmark yields, broker/dealer quotes and other similar data obtained from quoted market prices or independent pricing vendors.

The bifurcated conversion option and 2025 Hedge are classified as Level 2 within the fair value hierarchy, based on implied equity volatility. The estimated fair value of the 2025 Notes, inclusive of the embedded conversion option, at June 30, 2024 was $432.6 million. The fair value was determined based on the quoted price of the 2025 Notes in an active market on the last trading day of the reporting period and has been classified as Level 1 within the fair value hierarchy.

Fair value of the revenue-based business acquisition liabilities was determined using a discounted cash flow model, probability model, and an option pricing methodology. The significant inputs of such models are not observable in the market, such as certain financial metric growth rates, volatility and discount rates, market price risk adjustment, projections associated with the applicable milestone, the interest rate, and the related probabilities and payment structure in the contingent consideration arrangement.

The following are the significant unobservable inputs used in the two valuation techniques:


Unobservable input	Range			Weighted Average*
Revenue risk premium	1.9%	-	5.7%	3.1%
Revenue volatility	14.0%	-	20.0%	15.0%
Discount rate	6.1%	-	8.5%	6.5%
Projected year of payment	2024	-	2032

* The weighted average rates were calculated based on the relative fair value of each business acquisition liability.

The change in the carrying value of the business acquisition liabilities during the three and six months ended June 30, 2024 and 2023, respectively included the following:



	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Beginning balance	$	111,310	$	64,882	$	139,358	$	68,258
Purchase price contingent consideration		1,923		—		21,066		—
Changes resulting from foreign currency fluctuations		3		—		246		—
Contingent cash payments		(4,296)		(2,832)		(50,886)		(5,524)
Contingent RSU grants		(181)		(340)		(517)		(559)
Changes in fair value of business acquisition liabilities		12,898		3,726		12,739		3,280
Contractual payable reclassification		(325)		(84)		(674)		(103)
Ending balance	$	121,332	$	65,352	$	121,332	$	65,352

Purchase price contingent consideration includes obligations acquired in the NuVasive Merger. Changes in the fair value of business acquisition liabilities are driven by changes in market conditions and the achievement of certain performance conditions.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

STOCK-BASED AWARDS (Stock-based Compensation Schedule) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
STOCK-BASED AWARDS [Abstract]
Stock-based compensation expense	$ 12,813	$ 8,589	$ 30,073	$ 17,542
Net stock-based compensation capitalized into inventory	31	50	53	128
Total stock-based compensation cost	$ 12,844	$ 8,639	$ 30,126	$ 17,670

GOODWILL AND INTANGIBLE ASSETS (Summary of Goodwill) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
GOODWILL AND INTANGIBLE ASSETS [Abstract]
Goodwill, Beginning Balance	$ 1,434,540	$ 197,471
Additions and adjustments	20,953	1,235,890
Foreign exchange	(1,376)	1,179
Goodwill, Ending Balance	$ 1,454,117	$ 1,434,540

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

NET SALES (Schedule of Net Sales by Product Category) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 629,691	$ 291,615	$ 1,236,357	$ 568,303
Musculoskeletal Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	592,913	256,855	1,167,610	508,462
Enabling Technologies [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 36,778	$ 34,760	$ 68,747	$ 59,841

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

GOODWILL AND INTANGIBLE ASSETS (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
GOODWILL AND INTANGIBLE ASSETS [Abstract]
Remaining 2024	$ 59,912
2025	113,882
2026	110,202
2027	109,219
2028	105,764
Thereafter	367,586
Total intangible assets subject to amortization	$ 866,565	$ 924,603

PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2024

PROPERTY AND EQUIPMENT [Abstract]

Property And Equipment

NOTE 8. PROPERTY AND EQUIPMENT

Property and equipment included the following:



	Useful	June 30,		December 31,
(In thousands)	Life	2024		2023
Land	—	$	9,739	$	9,748
Buildings and improvements	31.5		103,873		102,449
Equipment	5-15		214,422		206,392
Instruments, modules, and cases	5		698,794		672,018
Other property and equipment	3-5		25,238		22,020
			1,052,066		1,012,627
Less: accumulated depreciation and amortization			(480,290)		(425,695)
Total		$	571,776	$	586,932

Instruments are hand-held devices used by surgeons to install implants during surgery. Modules and cases are used to store and transport the instruments and implants.

Depreciation expense related to property and equipment was as follows:



	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024			2023	2024		2023
Depreciation	$	33,880	$	13,528	$	59,464	$	27,035

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 02, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-35621
Entity Registrant Name	GLOBUS MEDICAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3744954
Entity Address, Address Line One	2560 General Armistead Avenue
Entity Address, City or Town	Audubon
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19403-5214
City Area Code	610
Local Phone Number	930-1800
Title of 12(b) Security	Class A Common Stock, par value $.001 per share
Trading Symbol	GMED
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		135,407,017
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001237831
Current Fiscal Year End Date	--12-31

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS (Summary Of Aggregate Consideration Of Merger) (Details) - NuVasive [Member] $ / shares in Units, shares in Thousands, $ in Thousands		6 Months Ended
	Sep. 01, 2023 USD ($) $ / shares shares	Jun. 30, 2024 USD ($)
Business Acquisition [Line Items]
NuVasive shares outstanding as of September 1, 2023 \| shares	52,451
NuVasive accelerated equity awards \| shares	632
Globus exchange ratio	0.75
Globus Class A Common Stock to be issued in exchange for NuVasive shares \| shares	39,813
Globus closing share price \| $ / shares	$ 54.10
Total Value Class A Common Stock	$ 2,153,860
2025 Warrants	579
Repayment of revolving credit facility	420,762	$ 420,800
Fair value of assumed equity awards	28,635	$ 28,600
Total purchase price	$ 2,603,836

FAIR VALUE MEASUREMENTS (Narrative) (Details) $ in Millions	Jun. 30, 2024 USD ($)
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of 2025 Notes	$ 432.6

EQUITY (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total equity, beginning of period	$ 3,922,361	$ 1,914,820	$ 3,997,959	$ 1,846,373
Total other comprehensive income/(loss), net of tax	(806)	355	(1,659)	5,563
Total equity, end of period	3,976,365	1,985,065	3,976,365	1,985,065
Accumulated Other Comprehensive Income/(Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total equity, beginning of period	(11,045)	(19,422)	(10,192)	(24,630)
Other comprehensive income/(loss) before reclassifications			(1,397)	6,882
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax			(262)	(1,319)
Total other comprehensive income/(loss), net of tax			(1,659)	5,563
Total equity, end of period	(11,851)	(19,067)	(11,851)	(19,067)
Unrealized Loss On Marketable Securities, Net Of Tax [Member] \| Accumulated Other Comprehensive Income/(Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total equity, beginning of period			(1,862)	(15,093)
Other comprehensive income/(loss) before reclassifications			1,133	5,657
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax			(262)	(1,319)
Total other comprehensive income/(loss), net of tax			871	4,338
Total equity, end of period	(991)	(10,755)	(991)	(10,755)
Foreign Currency Translation Adjustments [Member] \| Accumulated Other Comprehensive Income/(Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total equity, beginning of period			(8,330)	(9,537)
Other comprehensive income/(loss) before reclassifications			(2,530)	1,225
Total other comprehensive income/(loss), net of tax			(2,530)	1,225
Total equity, end of period	$ (10,860)	$ (8,312)	$ (10,860)	$ (8,312)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Retained Earnings [Member]	Total
Shares, Outstanding, Beginning Balance at Dec. 31, 2022	77,762	22,430
Total equity, beginning of period at Dec. 31, 2022	$ 78	$ 22	$ 630,952	$ (24,630)	$ 1,239,951	$ 1,846,373
Stock-based compensation			9,032			9,032
Grant of contingent restricted stock units			219			219
Exercise of stock options (shares)	143
Exercise of stock options			4,859			4,859
Comprehensive income/(loss)				5,208	49,129	54,337
Total equity, end of period at Mar. 31, 2023	$ 78	$ 22	645,062	(19,422)	1,289,080	1,914,820
Shares, Outstanding, Ending Balance at Mar. 31, 2023	77,905	22,430
Shares, Outstanding, Beginning Balance at Dec. 31, 2022	77,762	22,430
Total equity, beginning of period at Dec. 31, 2022	$ 78	$ 22	630,952	(24,630)	1,239,951	1,846,373
Comprehensive income/(loss)						112,404
Total equity, end of period at Jun. 30, 2023	$ 78	$ 22	657,240	(19,067)	1,346,792	1,985,065
Shares, Outstanding, Ending Balance at Jun. 30, 2023	78,013	22,430
Shares, Outstanding, Beginning Balance at Mar. 31, 2023	77,905	22,430
Total equity, beginning of period at Mar. 31, 2023	$ 78	$ 22	645,062	(19,422)	1,289,080	1,914,820
Stock-based compensation			8,639			8,639
Grant of contingent restricted stock units			340			340
Exercise of stock options (shares)	108
Exercise of stock options			3,199			3,199
Comprehensive income/(loss)				355	57,712	58,067
Total equity, end of period at Jun. 30, 2023	$ 78	$ 22	657,240	(19,067)	1,346,792	1,985,065
Shares, Outstanding, Ending Balance at Jun. 30, 2023	78,013	22,430
Shares, Outstanding, Beginning Balance at Dec. 31, 2023	113,906	22,430
Total equity, beginning of period at Dec. 31, 2023	$ 114	$ 22	2,870,749	(10,192)	1,137,266	3,997,959
Stock-based compensation			17,281			17,281
Grant of contingent restricted stock units			336			336
Exercise of stock options (shares)	112
Exercise of stock options			3,413			3,413
Issuance of Class A common stock under employee and director equity option plans, net (shares)	205
Issuance of Class A common stock under employee and director equity option plans, net			(5,343)			(5,343)
Comprehensive income/(loss)				(853)	(7,117)	(7,970)
Repurchase and retirement of common stock (shares)	(1,597)
Repurchase and retirement of common stock	$ (1)				(83,314)	(83,315)
Total equity, end of period at Mar. 31, 2024	$ 113	$ 22	2,886,436	(11,045)	1,046,835	3,922,361
Shares, Outstanding, Ending Balance at Mar. 31, 2024	112,626	22,430
Shares, Outstanding, Beginning Balance at Dec. 31, 2023	113,906	22,430
Total equity, beginning of period at Dec. 31, 2023	$ 114	$ 22	2,870,749	(10,192)	1,137,266	$ 3,997,959
Exercise of stock options (shares)						441
Comprehensive income/(loss)						$ 22,984
Total equity, end of period at Jun. 30, 2024	$ 113	$ 22	2,913,609	(11,851)	1,074,472	3,976,365
Shares, Outstanding, Ending Balance at Jun. 30, 2024	112,928	22,430
Shares, Outstanding, Beginning Balance at Mar. 31, 2024	112,626	22,430
Total equity, beginning of period at Mar. 31, 2024	$ 113	$ 22	2,886,436	(11,045)	1,046,835	3,922,361
Stock-based compensation			12,844			12,844
Grant of contingent restricted stock units			181			181
Exercise of stock options	$ 329		14,239			14,239
Issuance of Class A common stock under employee and director equity option plans, net (shares)	3
Issuance of Class A common stock under employee and director equity option plans, net			(91)			(91)
Comprehensive income/(loss)				(806)	31,760	30,954
Repurchase and retirement of common stock	$ (30)				(4,123)	(4,123)
Total equity, end of period at Jun. 30, 2024	$ 113	$ 22	$ 2,913,609	$ (11,851)	$ 1,074,472	$ 3,976,365
Shares, Outstanding, Ending Balance at Jun. 30, 2024	112,928	22,430

DEBT (Narrative II) (Details) $ in Millions		6 Months Ended
DEBT (Narrative II) (Details) $ in Millions	Sep. 01, 2023 USD ($) $ / item shares	Jun. 30, 2024 USD ($) $ / item shares
Note Warrant [Member]
Derivative [Line Items]
Amount of shares entitled to purchase \| shares		3,617,955
Strike price \| $ / item		170.45
Warrant fair value within additional paid-in capital \| $		$ 0.6
2025 Hedge [Member]
Derivative [Line Items]
Amount of shares entitled to purchase \| shares	3,617,955
Strike price \| $ / item	124.38
Convertible Debt [Member]
Derivative [Line Items]
Embedded conversion feature at fair value \| $	$ 1.7	$ 0.5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of Changes to Contract Liabilities Related to Deferred Revenue


	Six Months Ended
	June 30,
(In thousands)	2024
Beginning contract liabilities	$	27,749
Revenue recognized from beginning of year contract liabilities		(13,548)
Net advance consideration received during the period		15,660
Ending contract liabilities	$	29,861

STOCK-BASED AWARDS

6 Months Ended

Jun. 30, 2024

STOCK-BASED AWARDS [Abstract]

Stock-Based Awards

NOTE 13. STOCK-BASED AWARDS

We have four stock plans: our 2012 Equity Incentive Plan (the “2012 Plan”) and our 2021 Equity Incentive Plan (the “2021 Plan”), the NuVasive 2014 Equity Incentive Plan (the “NuVasive 2014 Plan”), and the Ellipse Technologies 2015 Incentive Award Plan (the “Ellipse 2015 Plan”). The 2021 Plan, the NuVasive 2014 Plan and the Ellipse 2015 Plan are the only active stock plans. The purpose of the 2012 Plan was, and of the 2021 Plan is, to provide incentive to employees, directors, and consultants of Globus. The 2012 Plan,

2021 Plan, and Ellipse 2015 Plan are administered by the Board of Directors of Globus (the “Board”) or its delegates. The number, type of option, exercise price, and vesting terms are determined by the Board or its delegates in accordance with the terms of the 2012 Plan and 2021 Plan. The options granted expire on a date specified by the Board, which is ten years from the grant date. Options granted to employees vest in varying installments over a four-year period.

The 2012 Plan was approved by our Board in March 2012, and by our stockholders in June 2012. The 2012 Plan terminated as to new awards pursuant to its terms in 2022. Following effectiveness of the 2021 Plan, we have not issued any additional awards under the 2012 Plan; however, awards previously granted under the 2012 Plan remain outstanding and are administered by our Board under the terms and conditions of the 2012 Plan. Under the 2012 Plan, the aggregate number of shares of Class A Common that were able to be issued subject to options and other awards is equal to the sum of (i) 3,076,923 shares, (ii) any shares available for issuance under the 2008 Equity Incentive Plan as of March 13, 2012, (iii) any shares underlying awards outstanding under the 2008 Plan as of March 13, 2012 that, on or after that date, are forfeited, terminated, expired or lapse for any reason, or are settled for cash without delivery of shares and (iv) starting January 1, 2013, an annual increase in the number of shares available under the 2012 Plan equal to up to 3% of the number of shares of our common and preferred stock outstanding at the end of the previous year, as determined by our Board. The number of shares that were able to be issued or transferred pursuant to incentive stock options under the 2012 Plan was limited to 10,769,230 shares. The shares of Class A Common covered by the 2012 Plan included authorized but unissued shares, treasury shares or shares of common stock purchased on the open market.

The 2021 Plan was approved by our Board in March 2021, and by our stockholders in June 2021. Under the 2021 Plan, as amended to date, the aggregate number of shares of Class A Common that are able to be issued subject to options and other awards is equal to the sum of (i) 9,000,000 shares, (ii) any shares available for issuance under the 2012 Plan as of June 3, 2021 and (iii) any shares underlying awards outstanding under the 2012 Plan or 2021 Plan as of June 3, 2021 that, on or after that date, are forfeited, terminated, expired or lapse for any reason, or are settled for cash without delivery of shares. The number of shares that may be issued or transferred pursuant to incentive stock options under the 2021 Plan is limited to 9,000,000 shares. The shares of Class A Common covered by the 2021 Plan include authorized but unissued shares, treasury shares or shares of common stock purchased on the open market.

In connection with the Merger, the Company assumed outstanding awards for the RSUs and PRSUs under the NuVasive 2014 Plan and the Ellipse 2015 Plan in accordance with the terms in the Merger Agreement. The ultimate issuance amount of the PRSUs is determined by the Company’s Compensation Committee. Share payout levels range from 0% to 100% depending on the respective terms of an award.

As of June 30, 2024, pursuant to the 2021 Plan, the NuVasive 2014 Plan, and the Ellipse 2015 Plan, there were 9,867,378 shares, 359,217 shares, and 377,489 shares, respectively, of Class A Common reserved and 3,097,512 shares, no shares, and 276,888 shares, respectively of Class A Common available for future grants. The NuVasive 2014 Plan terminated as to new awards pursuant to its terms in the second quarter of 2024.

Stock Options

Stock option activity during the six months ended June 30, 2024 is summarized as follows:



	Option ‎Shares (thousands)	Weighted ‎average ‎exercise ‎price		Weighted ‎average ‎remaining ‎contractual ‎life (years)	Aggregate ‎intrinsic ‎value ‎(thousands)
Outstanding at December 31, 2023	11,401	$	53.02
Granted	2,331		53.20
Exercised	(441)		39.69
Forfeited	(279)		58.55
Outstanding at June 30, 2024	13,012		53.41	6.7	$	203,489
Exercisable at June 30, 2024	7,533		51.29	5.3		133,357
Expected to vest at June 30, 2024	5,478	$	56.34	8.5	$	70,132

The total intrinsic value of stock options exercised was $7.1 million and $2.8 million during the three months ended June 30, 2024, and 2023, respectively. The total intrinsic value of stock options exercised was $9.9 million and $8.1 million during the six months ended June 30, 2024, and 2023, respectively.

The fair value of the options was estimated on the date of the grant using a Black-Scholes option pricing model with the following assumptions:



	Six Months Ended
	June 30,
	2024			2023
Risk-free interest rate	4.02%	-	4.74%	3.45%	-	4.10%
Expected term (years)	4.7	-	5.5	4.7
Expected volatility	37.0%	-	38.9%	35.0%	-	38.0%
Expected dividend yield		—%			—%

The weighted average grant date fair value of stock options granted during the three months ended June 30, 2024, and 2023 was $21.47 and $21.61 per share, respectively. The weighted average grant date fair value of stock options granted during the six months ended June 30, 2024, and 2023 was $21.15 and $22.21 per share, respectively.

Restricted Stock Units

Restricted stock unit activity during the six months ended June 30, 2024 is summarized as follows:


	Restricted Stock ‎Units (thousands)	Weighted ‎average ‎grant date fair value ‎per share		Weighted ‎average ‎remaining ‎contractual ‎life (years)
Outstanding at December 31, 2023	820	$	54.98
Granted	10		52.96
Vested	(304)		54.10
Forfeited	(47)		54.10
Outstanding at June 30, 2024	479	$	55.58	2.57

Performance-Based Restricted Stock Units

Performance-based restricted stock unit activity during the six months ended June 30, 2024 is summarized as follows:


	Performance-Based Restricted Stock ‎Units (thousands)	Weighted ‎average ‎grant date fair value ‎per share		Weighted ‎average ‎remaining ‎contractual ‎life (years)
Outstanding at December 31, 2023	106	$	53.61
Granted	—		—
Vested	(5)		54.10
Forfeited	(13)		54.10
Outstanding at June 30, 2024	88	$	53.46	2.09

Stock-Based Compensation

Compensation expense related to stock options granted to employees and non-employees under the Plans was as follows:



	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Stock-based compensation expense	$	12,813	$	8,589	$	30,073	$	17,542
Net stock-based compensation capitalized into inventory		31		50		53		128
Total stock-based compensation cost	$	12,844	$	8,639	$	30,126	$	17,670

As of June 30, 2024, there was $109.5 million of unrecognized compensation expense related to unvested employee stock options, RSUs, and PRSUs that vest over a weighted average period of 2.66 years.

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2024

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value of Assets and Liabilities Measured on Recurring Basis



(In thousands)	Balance at ‎June 30, ‎2024		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	243,685	$	243,685	$	—	$	—
Municipal bonds		13,841		—		13,841		—
Corporate debt securities		52,748		—		52,748		—
Asset-backed securities		12,676		—		12,676		—
Government, federal agency, and other sovereign obligations		31,039		—		31,039		—
2025 Hedge		471		—		471		—
Liabilities:
Senior Convertible Notes due 2025		432,159		432,159		—		—
Bifurcated Conversion Option of the Senior Convertible Notes due 2025		471		—		471		—
Business acquisition liabilities		121,332		—		—		121,332



(In thousands)	Balance at ‎December 31, ‎2023		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	203,689	$	203,689	$	—	$	—
Municipal bonds		18,057		—		18,057		—
Corporate debt securities		58,838		—		58,838		—
Asset-backed securities		17,161		—		17,161		—
Government, federal agency, and other sovereign obligations		31,869		2,928		28,941		—
2025 Hedge		687		—		687		—

Liabilities:
Senior Convertible Notes due 2025		417,363		417,363		—		—
Bifurcated Conversion Option of the Senior Convertible Notes due 2025		687		—		687		—
Business acquisition liabilities		139,358		—		—		139,358

Significant Unobservable Inputs in Valuation Techniques


Unobservable input	Range			Weighted Average*
Revenue risk premium	1.9%	-	5.7%	3.1%
Revenue volatility	14.0%	-	20.0%	15.0%
Discount rate	6.1%	-	8.5%	6.5%
Projected year of payment	2024	-	2032

* The weighted average rates were calculated based on the relative fair value of each business acquisition liability.

Changes in Carrying Value of Business Acquisition Liabilities



	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Beginning balance	$	111,310	$	64,882	$	139,358	$	68,258
Purchase price contingent consideration		1,923		—		21,066		—
Changes resulting from foreign currency fluctuations		3		—		246		—
Contingent cash payments		(4,296)		(2,832)		(50,886)		(5,524)
Contingent RSU grants		(181)		(340)		(517)		(559)
Changes in fair value of business acquisition liabilities		12,898		3,726		12,739		3,280
Contractual payable reclassification		(325)		(84)		(674)		(103)
Ending balance	$	121,332	$	65,352	$	121,332	$	65,352

Insider Trading Arrangements (Details)	3 Months Ended
Insider Trading Arrangements (Details)	Jun. 30, 2024 shares
Daniel T. Scavilla [Member]
Insider Trading Arrangements [Line Items]
Trading Arrangement Adoption Date	June 7, 2024
Trading Arrangement, Individual Name	Daniel T. Scavilla
Trading Arrangement, Individual Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted [Flag]	true
Trading Arrangement, Securities Aggregate Available Amount	190,000
Kelly G. Huller [Member]
Insider Trading Arrangements [Line Items]
Trading Arrangement Adoption Date	June 13, 2024
Trading Arrangement, Individual Name	Kelly G. Huller
Trading Arrangement, Individual Title	Senior Vice President and General Counsel
Rule 10b5-1 Arrangement Adopted [Flag]	true
Trading Arrangement, Securities Aggregate Available Amount	15,000

EQUITY (Narrative) (Details) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) item / shares item $ / shares shares	Dec. 31, 2023 shares	Sep. 27, 2023 USD ($)	Mar. 04, 2022 USD ($)	Mar. 11, 2020 USD ($)
Class of Stock [Line Items]
Total number of shares repurchased	29,600,000	1,600,000
Average Price Paid per Share \| $ / shares	$ 49.67	$ 52.14
Dollar amount of shares repurchased \| $	$ 1.5	$ 84.8
Common stock, shares authorized	775,000,000	775,000,000
Common Class A [Member]
Class of Stock [Line Items]
Stock repurchase plan, authorized amount \| $						$ 200.0
Additional stock repurchase plan, authorized amount \| $				$ 350.0	$ 200.0
Stock repurchase plan, remaining authorized amount \| $	$ 190.3	$ 190.3
Common stock, shares authorized	500,000,000	500,000,000	500,000,000
Number of votes per share \| item / shares		1
Shares converted from other class		1
Common Class B [Member]
Class of Stock [Line Items]
Common stock, shares authorized	275,000,000	275,000,000	275,000,000
Number of votes per share \| item		10

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS (Tables)

6 Months Ended

Jun. 30, 2024

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS [Abstract]

Summary of Aggregate Consideration of Merger


(In thousands)
NuVasive shares outstanding as of September 1, 2023		52,451
NuVasive accelerated equity awards		632
Globus exchange ratio		0.75
Globus Class A Common Stock issued in exchange for NuVasive shares		39,813
Globus closing share price	$	54.10
Total Value Class A Common Stock	$	2,153,860

2025 Warrants		579
Repayment of revolving credit facility		420,762
Fair value of assumed equity awards		28,635
Total purchase price	$	2,603,836

Summary of Preliminary Purchase Price


(In thousands)	Preliminary Purchase Price Allocation as of September 1, 2023		Measurement Period and Other Adjustments		Purchase Price Allocation as of June 30, 2024 (as adjusted)
Current assets (excluding accounts receivable and inventories)	$	158,112	$	38	$	158,150
Accounts receivable		249,591		(6,912)		242,679
Inventories		570,300		(12,266)		558,034
Property, plant, and equipment		361,118		598		361,716
Operating lease ROU asset		90,457		(32,174)		58,283
Intangible assets		1,222,000		(323,000)		899,000
Other long-term assets		25,973		13,111		39,084
Deferred income taxes		4,837		977		5,814
Total Assets	$	2,682,388	$	(359,628)	$	2,322,760

Current Liabilities		185,175		(605)		184,570
Operating lease liabilities, including current portion		109,110		(7,758)		101,352
Business acquisition liabilities, including current portion		66,873		—		66,873
Senior convertible notes		409,500		—		409,500
Deferred income taxes and other tax liabilities		194,553		(16,035)		178,518
Other liabilities		37,496		(23,797)		13,699
Total liabilities	$	1,002,707	$	(48,195)	$	954,512

Fair value of acquired identifiable assets and liabilities	$	1,679,681	$	(311,433)	$	1,368,248

Purchase price	$	2,603,836			$	2,603,836
Less: Fair value of acquired identifiable assets and liabilities		(1,679,681)				(1,368,248)
Goodwill	$	924,155			$	1,235,588

Summary of Estimated Fair Value of Identifiable Assets Acquired

	Fair Value as of
(In thousands)	June 30, 2024		Useful Life
Developed Technology	$	607,000	8
Customer Relationships		292,000	11

STOCK-BASED AWARDS (Tables)

6 Months Ended

Jun. 30, 2024

STOCK-BASED AWARDS [Abstract]

Summary of Stock Option Activity

Stock option activity during the six months ended June 30, 2024 is summarized as follows:



	Option ‎Shares (thousands)	Weighted ‎average ‎exercise ‎price		Weighted ‎average ‎remaining ‎contractual ‎life (years)	Aggregate ‎intrinsic ‎value ‎(thousands)
Outstanding at December 31, 2023	11,401	$	53.02
Granted	2,331		53.20
Exercised	(441)		39.69
Forfeited	(279)		58.55
Outstanding at June 30, 2024	13,012		53.41	6.7	$	203,489
Exercisable at June 30, 2024	7,533		51.29	5.3		133,357
Expected to vest at June 30, 2024	5,478	$	56.34	8.5	$	70,132

Fair Value of Options Using Black Scholes Option Pricing Model

The fair value of the options was estimated on the date of the grant using a Black-Scholes option pricing model with the following assumptions:



	Six Months Ended
	June 30,
	2024			2023
Risk-free interest rate	4.02%	-	4.74%	3.45%	-	4.10%
Expected term (years)	4.7	-	5.5	4.7
Expected volatility	37.0%	-	38.9%	35.0%	-	38.0%
Expected dividend yield		—%			—%

Summary of Restricted Stock Unit Activity


	Restricted Stock ‎Units (thousands)	Weighted ‎average ‎grant date fair value ‎per share		Weighted ‎average ‎remaining ‎contractual ‎life (years)
Outstanding at December 31, 2023	820	$	54.98
Granted	10		52.96
Vested	(304)		54.10
Forfeited	(47)		54.10
Outstanding at June 30, 2024	479	$	55.58	2.57

Summary of Performance-Based Restricted Stock Unit Activity


	Performance-Based Restricted Stock ‎Units (thousands)	Weighted ‎average ‎grant date fair value ‎per share		Weighted ‎average ‎remaining ‎contractual ‎life (years)
Outstanding at December 31, 2023	106	$	53.61
Granted	—		—
Vested	(5)		54.10
Forfeited	(13)		54.10
Outstanding at June 30, 2024	88	$	53.46	2.09

Stock-based Compensation Schedule



	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Stock-based compensation expense	$	12,813	$	8,589	$	30,073	$	17,542
Net stock-based compensation capitalized into inventory		31		50		53		128
Total stock-based compensation cost	$	12,844	$	8,639	$	30,126	$	17,670

RESTRUCTURING AND OTHER COSTS (Tables)

6 Months Ended

Jun. 30, 2024

RESTRUCTURING AND OTHER COSTS [Abstract]

Summary of Recognized Pre-tax Costs


	Three Months Ended		Six Months Ended
(In thousands)	June 30, 2024		June 30, 2024
Cost of Sales	$	—	$	143
Research and Development		25		1,520
Selling, General and Administrative		53		3,236
Restructuring Costs		(566)		18,575
Total restructuring and other costs	$	(488)	$	23,474

Summary of Activity Related To Restructuring Program


	Three Months Ended		Six Months Ended
(In thousands)	June 30, 2024		June 30, 2024
Beginning Balance	$	10,638	$	—
Charges		(488)		23,474
Cash Payments		(1,142)		(9,645)
Settled non-cash		(78)		(4,899)
June 30, 2024	$	8,930	$	8,930

PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2024

PROPERTY AND EQUIPMENT [Abstract]

Schedule of Property and Equipment



	Useful	June 30,		December 31,
(In thousands)	Life	2024		2023
Land	—	$	9,739	$	9,748
Buildings and improvements	31.5		103,873		102,449
Equipment	5-15		214,422		206,392
Instruments, modules, and cases	5		698,794		672,018
Other property and equipment	3-5		25,238		22,020
			1,052,066		1,012,627
Less: accumulated depreciation and amortization			(480,290)		(425,695)
Total		$	571,776	$	586,932

Schedule of Depreciation Related to Property and Equipment



	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024			2023	2024		2023
Depreciation	$	33,880	$	13,528	$	59,464	$	27,035

EQUITY (Schedule of Computation of Basic and Diluted Earnings) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income/(loss) for basic:	$ 31,760	$ 57,712	$ 24,643	$ 106,841
Adjusted net income (loss) for diluted	$ 31,760	$ 57,712	$ 24,643	$ 106,841
Weighted average shares outstanding for basic	135,195	100,373	135,276	100,326
Dilutive stock options, RSUs, and PRSUs	1,784	1,409	1,559	1,663
Weighted average shares outstanding for diluted	136,979	101,782	136,836	101,989
Basic	$ 0.23	$ 0.57	$ 0.18	$ 1.06
Diluted	$ 0.23	$ 0.57	$ 0.18	$ 1.05
Anti-dilutive award excluded from the calculation	15,045	5,768	22,107	5,576
Stock Options And RSUs [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive award excluded from the calculation	7,809	5,768	7,635	5,576
Warrant [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive award excluded from the calculation	3,618		7,236
Senior Convertible Notes due 2025 [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive award excluded from the calculation	3,618		7,236

ACCRUED EXPENSES

6 Months Ended

Jun. 30, 2024

ACCRUED EXPENSES [Abstract]

Accrued Expenses

NOTE 10. ACCRUED EXPENSES

Accrued expenses as of June 30, 2024 and December 31, 2023, respectively included the following:



	June 30,		December 31,
(In thousands)	2024		2023
Compensation and other employee-related costs	$	114,558	$	140,817
Legal and other settlements and expenses		4,342		9,335
Accrued non-income taxes		27,449		23,726
Royalties		10,271		10,130
Rebates		32,723		27,605
Other		26,542		28,847
Total accrued expenses	$	215,885	$	240,460

FAIR VALUE MEASUREMENTS (Changes in Carrying Value of Business Acquisition Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement, beginning balance			$ 139,358
Fair value measurement, ending balance	$ 121,332		121,332
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement, beginning balance	111,310	$ 64,882	139,358	$ 68,258
Purchase price contingent consideration	1,923		21,066
Changes resulting from foreign currency fluctuations	3		246
Contingent cash payments	(4,296)	(2,832)	(50,886)	(5,524)
Contingent RSU grants	(181)	(340)	(517)	(559)
Changes in fair value of business acquisition liabilities	12,898	3,726	12,739	3,280
Contractual payable reclassification	(325)	(84)	(674)	(103)
Fair value measurement, ending balance	$ 121,332	$ 65,352	$ 121,332	$ 65,352

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2024

COMMITMENTS AND CONTINGENCIES [Abstract]

Commitments And Contingencies

NOTE 17. COMMITMENTS AND CONTINGENCIES

We are involved in a number of proceedings, legal actions, and claims arising in the ordinary course of business. Such matters are subject to many uncertainties, and the outcomes of these matters are not within our control and may not be known for prolonged periods of time. In some actions, the claimants seek damages, as well as other relief, including injunctions prohibiting us from engaging in certain activities, which, if granted, could require significant expenditures and/or result in lost revenues. We record a liability in the condensed consolidated financial statements for these actions when a loss is considered probable and the amount can be reasonably estimated. If the reasonable estimate of a probable loss is a range, and no amount in the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible, but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. In most cases, significant judgment is required to estimate the amount and timing of a loss to be recorded. While it is not possible to predict the outcome for most of the matters discussed, we believe it is possible that costs associated with them could have a material adverse impact on our consolidated earnings, financial position or cash flows.

Moskowitz Family LLC Litigation

On November 20, 2019, Moskowitz Family LLC filed suit against us in the U.S. District Court for the Western District of Texas for patent infringement. Moskowitz, a non-practicing entity, alleges that Globus willfully infringes one or more claims of six patents by making, using, offering for sale or selling the COALITION MIS^®, CORBEL^®, MAGNIFY^®-S, HEDRON IA^TM, INDEPENDENCE MIS^®, INDEPENDENCE MIS AGX^®, FORTIFY^®and XPAND^® families, SABLE^®, RISE^®, RISE^® INTRALIF, RISE^®-L, ELSA^®, ELSA^® ATP, ALTERA^®, ARIEL^®, CALIBER^® and CALIBER^®-L products. Moskowitz seeks monetary damages and injunctive relief. On July 2, 2020, this suit was transferred from the U.S. District Court for the Western District of Texas to the U.S. District Court for the Eastern District of Pennsylvania. On December 14, 2023, a jury returned a defense verdict in favor of Globus. As such, we have not recorded a liability, outside of counsel fees, related to this litigation as of June 30, 2024.

LEASES (Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
LEASES (Lease Expense) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
LEASES [Abstract]
Operating lease expense	$ 6,593	$ 982	$ 12,200	$ 1,930
Finance lease expense: Depreciation of right-of-use asset	165		348
Finance lease expense: Interest expense on lease liabilities	27		56
Total lease expense	$ 6,785	$ 982	$ 12,604	$ 1,930

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Changes to Contract Liabilities Related to Deferred Revenue) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Beginning contract liabilities	$ 27,749
Revenue recognized from beginning of year contract liabilities	(13,548)
Net advance consideration received during the period	15,660
Ending contract liabilities	$ 29,861

STOCK-BASED AWARDS (Summary of Stock Option Activity) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option shares outstanding beginning balance \| shares	11,401
Option shares granted \| shares	2,331
Option shares exercised \| shares	(441)
Option shares forfeited \| shares	(279)
Option shares outstanding ending balance \| shares	13,012
Option shares exercisable \| shares	7,533
Option shares expected to vest \| shares	5,478
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Weighted average exercise price per share outstanding beginning balance \| $ / shares	$ 53.02
Weighted average exercise price per share granted \| $ / shares	53.20
Weighted average exercise price per share exercised \| $ / shares	39.69
Weighted average exercise price per share forfeited \| $ / shares	58.55
Weighted average exercise price per share outstanding ending balance \| $ / shares	53.41
Weighted average exercise price per share exercisable \| $ / shares	51.29
Weighted average exercise price per share expected to vest \| $ / shares	$ 56.34
Weighted average remaining contractual life outstanding	6 years 8 months 12 days
Weighted average remaining contractual life exercisable	5 years 3 months 18 days
Weighted average remaining contractual life expected to vest	8 years 6 months
Aggregate intrinsic value outstanding \| $	$ 203,489
Aggregate intrinsic value exercisable \| $	133,357
Aggregate intrinsic value expected to vest \| $	$ 70,132

SEGMENT AND GEOGRAPHIC INFORMATION

6 Months Ended

Jun. 30, 2024

SEGMENT AND GEOGRAPHIC INFORMATION [Abstract]

Segment And Geographic Information

NOTE 18. SEGMENT AND GEOGRAPHIC INFORMATION

Operating segments are defined as components of an organization for which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. We have identified two operating segments, Musculoskeletal Solutions and Enabling Technologies, based on how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. We aggregate these operating segments into one reportable segment, based on conclusions reached after considering relevant factors such as economic similarity, customer base, regulatory environment, production processes, nature of services and products provided, and our comprehensive approach to product development and offerings targeting patient needs through procedural-based solutions.

The following table represents total net sales, net by geographic area, based on the location of the customer:


	Net Sales
	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)		2024		2023		2024	2023
United States	$	499,459	$	245,490	$	982,386	$	479,609
International		130,232		46,125		253,971		88,694
Total	$	629,691	$	291,615	$	1,236,357	$	568,303

The following table represents total property and equipment, net by geographic area, based on the location of the customer:


	Property and Equipment, Net
		As of
	June 30,		December 31,
(In thousands)	2024		2023
United States	$	522,548	$	527,332
International		49,228		59,600
Total	$	571,776	$	586,932

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

INVENTORIES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INVENTORIES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Inventory [Line Items]
Net adjustment to cost of sales related to excess and obsolete inventory	$ 6,600	$ 1,900	$ 10,500	$ 4,000
Excess and obsolete related provisions	8,600	3,400	13,800	6,900
Inventory sales and disposals related provisions	2,000	$ 1,500	3,300	$ 2,900
Amortization of inventory fair value step up			107,341
NuVasive [Member]
Inventory [Line Items]
Amortization of inventory fair value step up	53,700		107,300
Step up in value of inventory	23,700		23,700
Work in process	3,000		3,000
Finished goods	199,600		199,600
NuVasive [Member] \| Step Up In Value Inventory [Member]
Inventory [Line Items]
Step up in value of inventory	$ 202,600		$ 202,600

LEASES (Future Minimum Lease Payments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
LEASES [Abstract]
Remaining 2024	$ 632
2025	849
2026	314
2027	18
2028	4
Total minimum lease payments	1,818
Less: amount representing interest	(97)
Present value of obligations under leases	1,722
Less: current portion	(1,038)	$ (475)
Long-term lease obligations	684	337
Remaining 2024	8,916
2025	15,505
2026	14,128
2027	12,942
2028	11,820
Thereafter	74,150
Total minimum lease payments	137,461
Less: amount representing interest	(38,641)
Present value of obligations under leases	98,820
Less: current portion	(11,118)	(11,967)
Operating lease liability - Long-term	$ 87,702	$ 91,037

INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2024

INCOME TAXES [Abstract]

Summary of Effective Tax Rate


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2024	2023	2024	2023
Effective income tax rate	33.2%	22.7%	36.9%	22.5%

INVENTORIES

6 Months Ended

Jun. 30, 2024

INVENTORIES [Abstract]

Inventories

NOTE 7. INVENTORIES

Inventories included the following:



	June 30,		December 31,
(In thousands)	2024		2023
Raw materials	$	120,846	$	103,349
Work in process		35,743		37,321
Finished goods		613,874		707,465
Total inventories	$	770,463	$	848,135

As part of the NuVasive Merger, a step up in the value of inventory of $202.6 million was recorded, which was composed of $3.0 million for work in process and $199.6 million for finished goods. The amortization of the inventory step up recorded in product cost of sales was $53.7 million and $107.3 million for the three and six months ended June 30, 2024, respectively. As of June 30, 2024, the total remaining balance of inventory step up was $23.7 million.

During the three months ended June 30, 2024 and 2023, net adjustments to cost of sales related to excess and obsolete inventory were $6.6 million and $1.9 million, respectively. The net adjustments for the three months ended June 30, 2024 and 2023 reflect a combination of additional expense for excess and obsolete related provisions ($8.6 million and $3.4 million, respectively) offset by sales and disposals ($2.0 million and $1.5 million, respectively) of inventory for which an excess and obsolete provision was provided previously through expense recognized in prior periods.

During the six months ended June 30, 2024 and 2023, net adjustments to cost of sales related to excess and obsolete inventory were $10.5 million and $4.0 million, respectively. The net adjustments for the six months ended June 30, 2024 and 2023 reflect a combination of additional expense for excess and obsolete related provisions ($13.8 million and $6.9 million, respectively) offset by sales and disposals ($3.3 million and $2.9 million, respectively) of inventory for which an excess and obsolete provision was provided previously through expense recognized in prior periods.

EQUITY (Tables)

6 Months Ended

Jun. 30, 2024

EQUITY [Abstract]

Accumulated Other Comprehensive Income (Loss)


(In thousands)	Unrealized loss on marketable securities, net of tax		Foreign currency translation adjustments		Accumulated other comprehensive loss
Accumulated other comprehensive income/(loss), net of tax, at December 31, 2023	$	(1,862)	$	(8,330)	$	(10,192)
Other comprehensive income/(loss) before reclassifications		1,133		(2,530)		(1,397)
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax		(262)		—		(262)
Other comprehensive income/(loss), net of tax		871		(2,530)		(1,659)
Accumulated other comprehensive income/(loss), net of tax, at June 30, 2024	$	(991)	$	(10,860)	$	(11,851)


(In thousands)	Unrealized loss on marketable securities, net of tax		Foreign currency translation adjustments		Accumulated other comprehensive loss
Accumulated other comprehensive income/(loss), net of tax, at December 31, 2022	$	(15,093)	$	(9,537)	$	(24,630)
Other comprehensive income/(loss) before reclassifications		5,657		1,225		6,882
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax		(1,319)		—		(1,319)
Other comprehensive income/(loss), net of tax		4,338		1,225		5,563
Accumulated other comprehensive income/(loss), net of tax, at June 30, 2023	$	(10,755)	$	(8,312)	$	(19,067)

Schedule of Computation of Basic and Diluted Earnings


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands, except per share amounts)	2024		2023		2024		2023
Numerator:
Net income/(loss) for basic	$	31,760	$	57,712	$	24,643	$	106,841
Dilutive potential net income /(loss)		—		—		—		—
Adjusted net income (loss) for diluted	$	31,760	$	57,712		24,643		106,841
Denominator for basic and diluted net income per share:
Weighted average shares outstanding for basic		135,195		100,373		135,276		100,326
Dilutive stock options, RSUs, and PRSUs		1,784		1,409		1,559		1,663
Weighted average shares outstanding for diluted		136,979		101,782		136,836		101,989
Earnings per share:
Basic	$	0.23	$	0.57	$	0.18	$	1.06
Diluted	$	0.23	$	0.57	$	0.18	$	1.05

Anti-dilutive stock options and RSUs excluded from the calculation		7,809		5,768		7,635		5,576
Anti-dilutive warrants excluded from the calculation		3,618		—		7,236		—
Anti-dilutive Senior Convertible Notes due 2025 excluded from the calculation		3,618		—		7,236		—
Total	$	15,045	$	5,768	$	22,107	$	5,576

STOCK-BASED AWARDS (Narrative) (Details) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) ShareBasedCompensationPlan $ / shares shares	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2024 USD ($) ShareBasedCompensationPlan $ / shares shares	Jun. 30, 2023 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, unvested stock options \| $	$ 109.5		$ 109.5
Weighted average period of recognition, unvested stock options			2 years 7 months 28 days
Number of stock plans \| ShareBasedCompensationPlan	4		4
Option shares granted			2,331,000
Intrinsic value of stock options exercised \| $	$ 7.1	$ 2.8	$ 9.9	$ 8.1
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years
Maximum contractual term			10 years
Weighted average grant date fair value per share \| $ / shares	$ 21.47	$ 21.61	$ 21.15	$ 22.21
PRSU's [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share payout levels, percentage			0.00%
PRSU's [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share payout levels, percentage			100.00%
2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option shares granted			0
Base number of shares that may be issuable under stock plan	3,076,923		3,076,923
2012 Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	10,769,230		10,769,230
Annual percentage limit for incremental shares that may be issued	3.00%		3.00%
2021 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Base number of shares that may be issuable under stock plan	9,000,000		9,000,000
2021 Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Base number of shares that may be issuable under stock plan	9,000,000		9,000,000
2021 Plan [Member] \| Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserved under stock based plans	9,867,378		9,867,378
Number of shares available for grant	3,097,512		3,097,512
NuVasive 2014 Plan [Member] \| Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserved under stock based plans	359,217		359,217
Number of shares available for grant	0		0
Ellipse 2015 Plan [Member] \| Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserved under stock based plans	377,489		377,489
Number of shares available for grant	276,888		276,888

DEBT (Tables)

6 Months Ended

Jun. 30, 2024

DEBT [Abstract]

Carrying Value of Senior Convertible Notes


	June 30, 2024		December 31,
(In thousands)	2024		2023
0.375% Senior Convertible Notes due 2025:
Principal	$	449,987	$	449,987
Unamortized fair value adjustment for acquisition accounting		19,973		33,275
0.375% Senior Convertible Notes due 2025		430,014		416,712
Embedded Conversion Option		471		687
Debt, net of unamortized fair value adjustments for acquisition accounting	$	430,485	$	417,399

Summary of Interest Expense


	Three Months June 30,				Six Months Ended June 30,
(In thousands)	2024		2023		2024		2023
Interest expense:
Contractual coupon interest	$	422	$	—	$	844	$	—
Amortization of fair value adjustments for acquisition accounting		6,658		—		13,315		—
Total interest expense recognized on Senior Convertible Notes due 2025	$	7,080	$	—	$	14,160	$	—

Effective interest rates:
Senior Convertible Notes due 2025		6.6%		0.0%		6.6%		0.0%

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS (Summary Of Preliminary Purchase Price) (Details) - USD ($) $ in Thousands		6 Months Ended
	Sep. 01, 2023	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 1,454,117	$ 1,434,540	$ 197,471
NuVasive [Member]
Business Acquisition [Line Items]
Current assets (excluding accounts receivable and inventories)	$ 158,112	158,150
Accounts receivable	249,591	242,679
Inventories	570,300	558,034
Property, plant, and equipment	361,118	361,716
Operating lease ROU asset	90,457	58,283
Intangible assets	1,222,000	899,000
Other long-term assets	25,973	39,084
Deferred income taxes	4,837	5,814
Total Assets	2,682,388	2,322,760
Current Liabilities	185,175	184,570
Operating lease liabilities, including current portion	109,110	101,352
Business acquisition liabilities, including current portion	66,873	66,873
Senior convertible notes	409,500	409,500
Deferred income taxes and other tax liabilities	194,553	178,518
Other liabilities	37,496	13,699
Total liabilities	1,002,707	954,512
Fair value of acquired identifiable assets and liabilities	1,679,681	1,368,248
Purchase price	2,603,836	2,603,836
Less: Fair value of acquired identifiable assets and liabilities	(1,679,681)	(1,368,248)
Goodwill	$ 924,155	1,235,588
NuVasive [Member] \| Measurement Period and Other Adjustments [Member]
Business Acquisition [Line Items]
Current assets (excluding accounts receivable and inventories)		38
Accounts receivable		(6,912)
Inventories		(12,266)
Property, plant, and equipment		598
Operating lease ROU asset		(32,174)
Intangible assets		(323,000)
Other long-term assets		13,111
Deferred income taxes		977
Total Assets		(359,628)
Current Liabilities		(605)
Operating lease liabilities, including current portion		(7,758)
Deferred income taxes and other tax liabilities		(16,035)
Other liabilities		(23,797)
Total liabilities		(48,195)
Fair value of acquired identifiable assets and liabilities		(311,433)
Less: Fair value of acquired identifiable assets and liabilities		$ 311,433

LEASES (Amount Reported in Condensed Consolidated Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
LEASES [Abstract]
Operating lease right-of-use asset	$ 53,881	$ 59,931
Finance lease right-of-use asset	1,660	797
Total leased assets	55,542	60,728
Operating lease liability - Current	11,118	11,967
Finance lease liability - Current	1,038	475
Operating lease liability - Long-term	87,702	91,037
Finance lease liability - Long-term	684	337
Total lease liabilities	$ 100,542	$ 103,816

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts receivable, allowances	$ 19,256	$ 8,934
Accumulated depreciation	$ 480,290	$ 425,695
Common stock, shares authorized	775,000,000
Common Class A [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	112,928,331	113,905,565
Common stock, shares outstanding	112,928,331	113,905,565
Common Class B [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	275,000,000	275,000,000
Common stock, shares issued	22,430,097	22,430,097
Common stock, shares outstanding	22,430,097	22,430,097

COMMITMENTS AND CONTINGENCIES (Narrative) (Details)	Jun. 30, 2024 USD ($)
Moskowitz Family LLC Litigation [Member]
Estimated Litigation Liability	$ 0

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 24,643	$ 106,841
Adjustments to reconcile net income to net cash provided by operating activities:
Acquired in-process research and development	12,613
Depreciation and amortization	118,849	36,183
Amortization of premiums on marketable securities	(14)	786
Provision for excess and obsolete inventory	10,498	3,972
Amortization of inventory fair value step up	107,341
Amortization of 2025 Note fair value step up	13,315
Stock-based compensation expense	30,073	17,542
Allowance for doubtful accounts	11,481	1,863
Change in fair value of business acquisition liabilities	12,739	3,280
Change in deferred income taxes	(65,275)	(11,160)
(Gain)/loss on disposal of assets, net	464	129
Payment of business acquisition-related liabilities	(16,965)	(1,490)
Net (gain)/loss from foreign currency adjustment	6,558
(Increase) decrease in:
Accounts receivable	(124,206)	(28,237)
Inventories	(22,855)	(38,658)
Prepaid expenses and other assets	(2,001)	(2,100)
Increase (decrease) in:
Accounts payable	11,561	(2,769)
Accrued expenses and other liabilities	(28,951)	(888)
Income taxes payable/receivable	6,777	3,047
Net cash provided by/(used in) operating activities	106,645	88,341
Cash flows from investing activities:
Purchases of marketable securities	(12,174)	(81,381)
Maturities of marketable securities	21,709	159,328
Sales of marketable securities	7,404	21,788
Purchases of property and equipment	(56,366)	(33,859)
Acquisition of businesses, net of cash acquired and purchases of intangible and other assets	(17,535)	(2,662)
Net cash provided by/(used in) investing activities	(56,962)	63,214
Cash flows from financing activities:
Payment of business acquisition-related liabilities	(33,921)	(4,034)
Net proceeds from exercise of stock options	17,651	8,058
Payments related to tax withholdings for share-based compensation	(5,955)
Repurchase of common stock	(84,787)
Net cash provided by/(used in) financing activities	(107,012)	4,024
Effect of foreign exchange rates on cash	461	407
Net increase/(decrease) in cash and cash equivalents	(56,868)	155,986
Cash and cash equivalents at beginning of period	467,292	150,466
Cash and cash equivalents at end of period	410,424	306,452
Supplemental disclosures of cash flow information:
Income taxes paid, net	71,586	38,979
Non-cash investing and financing activities:
Accrued purchases of property and equipment	$ 9,508	$ 5,366

MARKETABLE SECURITIES

6 Months Ended

Jun. 30, 2024

MARKETABLE SECURITIES [Abstract]

Marketable Securities

NOTE 5. MARKETABLE SECURITIES

The composition of our short-term and long-term marketable securities was as follows:



	June 30, 2024
(In thousands)	Amortized ‎Cost		Gross ‎Unrealized ‎Gains		Gross Unrealized Losses		Fair ‎Value
Short-term:
Municipal bonds	$	8,252	$	—	$	(27)	$	8,225
Corporate debt securities		51,513		2		(486)		51,029
Government, federal agency, and other sovereign obligations		23,648		—		(393)		23,255
Total short-term marketable securities	$	83,413	$	2	$	(906)	$	82,509

Long-term:
Municipal bonds	$	5,708	$	—	$	(92)	$	5,616
Corporate debt securities		1,748		—		(29)		1,719
Asset-backed securities		12,885		—		(209)		12,676
Government, federal agency, and other sovereign obligations		7,871		—		(87)		7,784
Total long-term marketable securities	$	28,212	$	—	$	(417)	$	27,795



	December 31, 2023
(In thousands)	Amortized ‎Cost		Gross ‎Unrealized ‎Gains		Gross ‎Unrealized ‎Losses		Fair ‎Value
Short-term:
Municipal bonds	$	11,210	$	—	$	(224)	$	10,986
Corporate debt securities		38,416		—		(853)		37,563
Government, federal agency, and other sovereign obligations		2,004		—		(56)		1,948
Total short-term marketable securities	$	51,630	$	—	$	(1,133)	$	50,497

Long-term:
Municipal bonds	$	7,180	$	—	$	(109)	$	7,071
Corporate debt securities		21,707		—		(432)		21,275
Asset-backed securities		17,499		—		(338)		17,161
Government, federal agency, and other sovereign obligations		30,363		—		(442)		29,921

Total long-term marketable securities

76,749

—

(1,321)

75,428

The short-term marketable securities have effective maturity dates of less than one year and the long-term marketable securities have effective maturity dates ranging from one to three years as of June 30, 2024 and December 31, 2023, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)

6 Months Ended

Jun. 30, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Basis of Presentation

The accompanying interim unaudited condensed consolidated financial statements have been prepared in conformity with U.S. GAAP for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in complete financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2023.

In the opinion of management, these condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of our financial position as of June 30, 2024, and results of operations for the three and six months ended June 30, 2024. The results of operations for any interim period may not be indicative of results for the full year.

Prior Period Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation. “Operating lease right of use assets” was reclassified out of “Other assets”, and “Operating lease liabilities” were reclassified out of “Accrued expenses” and “Other liabilities”, respectively, depending on the short-term and long-term nature, on our consolidated balance sheets.

Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements include the accounts of Globus and its majority-owned or controlled subsidiaries. All intercompany balances and transactions are eliminated in consolidation.

Variable Interest Entities

We provide intraoperative neuromonitoring (“IONM”) services through various majority-owned or controlled subsidiaries, which collectively conduct business as NuVasive Clinical Services. In providing IONM services to surgeons and healthcare facilities across the U.S., the Company maintains contractual relationships with several physician practices (“PCs”). In accordance with authoritative guidance, the Company has determined that the PCs are variable interest entities and therefore, the accompanying consolidated financial statements include the accounts of the PCs from the date of acquisition. During the periods presented, the results of the PCs were immaterial to the Company’s financial statements. The creditors of the PCs have claims only to the assets of the PCs, which are not material, and the assets of the PCs are not available to the Company.

Use of Estimates

The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates, in part, on historical experience that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the condensed consolidated financial statements in the period they are determined to be necessary.

Significant areas that require estimates include revenue recognition, intangible assets, business acquisition liabilities, allowance for doubtful accounts, stock-based compensation, reserves for excess and obsolete inventory, fair value measurements, useful lives of assets, the outcome of litigation, recoverability of intangible assets and income taxes. We are subject to risks and uncertainties due to changes in the healthcare environment, regulatory oversight, competition, and legislation that may cause actual results to differ from estimated results.

Revenue Recognition

In accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, the Company recognizes revenue upon the transfer of goods or services to a customer at an amount that reflects the expected consideration to be received in exchange for those goods or services. The principles in ASC 606 are applied using the following five steps: (i) identify the contract with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies its performance obligation(s). Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Sales and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. For purposes of disclosure, we disaggregate our revenue into two categories, Musculoskeletal Solutions and Enabling Technologies. Our Musculoskeletal Solutions products consist primarily of the implantable devices, disposables, unique instruments, and neuromonitoring services, used in an expansive range of spine, orthopedic trauma, hip, knee and extremity procedures. The majority of our Musculoskeletal Solutions contracts have a single performance obligation and revenue is recognized at a point in time. For our IONM services, revenue is recognized in the period the service is performed, which can be either at a point in time or over time, depending on how the performance obligation is defined for the amount of consideration expected to be received. Our policy is to classify shipping and handling costs billed to customers as sales and the related expenses as cost of sales.

Our Enabling Technologies products are advanced hardware and software systems, and related technologies, that are designed to enhance a surgeon’s capabilities and streamline surgical procedures by making them less invasive, more accurate, and more reproducible to improve patient care. The majority of our Enabling Technologies product contracts contain multiple performance obligations, including maintenance and support, and revenue is recognized as we fulfill each performance obligation, generally at the point in time in which the obligation is fulfilled. When contracts have multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract.

Revenue associated with products holding rights of return or trade-in are recognized when the Company concludes there is not a risk of significant revenue reversal in future periods for the expected consideration in the transaction. Our policy is to classify shipping and handling costs billed to customers as sales and the related expenses as cost of sales.

Contract Balances

Timing of revenue recognition may differ from the timing of invoicing to customers. We record a receivable when revenue is recognized prior to invoicing, or deferred revenue when revenue is recognized subsequent to invoicing.

Deferred revenue is comprised mainly of unearned revenue related to the sales of certain Enabling Technologies products, which includes maintenance and support services. Maintenance and support services are generally invoiced annually, at the beginning of each contract period, and revenue is recognized ratably over the maintenance period.

The changes to contract liabilities related to deferred revenue are as follows:


	Six Months Ended
	June 30,
(In thousands)	2024
Beginning contract liabilities	$	27,749
Revenue recognized from beginning of year contract liabilities		(13,548)
Net advance consideration received during the period		15,660
Ending contract liabilities	$	29,861

Cash and Cash Equivalents

The Company considers all short-term, highly liquid investments with original maturities of 90 days or less at acquisition date to be cash equivalents. Cash equivalents, which consist of money market accounts, commercial paper, government securities, and corporate debt securities are stated at fair value.

Marketable Securities

Our marketable securities include municipal bonds, corporate debt securities, commercial paper, asset-backed securities, and securities of government, federal agency, and other sovereign obligations and are classified as available-for-sale as of June 30, 2024. Short-term and long-term marketable securities are recorded at fair value on our condensed consolidated balance sheets. Any change in fair value of our available-for-sale securities, that do not result in recognition or reversal of an allowance for credit loss or write-down, are recorded, net of taxes, as a component of accumulated other comprehensive income or loss on our condensed consolidated balance sheets. Premiums and discounts are recognized over the life of the related security as an adjustment to yield using the straight-line method. Realized gains or losses from the sale of marketable securities are determined on a specific identification basis. Realized gains and losses, interest income and the amortization/accretion of premiums/discounts are included as a component of other income/(expense), net, on our condensed consolidated statements of operations and comprehensive income. Interest receivable is recorded as a component of prepaid expenses and other current assets on our condensed consolidated balance sheets.

We invest in securities that meet or exceed standards as defined in our investment policy. Our policy also limits the amount of credit exposure to any one issue, issuer or type of security. We review declines in the fair value of our securities to determine whether they are resulting from expected credit losses or other factors. If the assessment indicates a credit loss exists, we recognize any measured impairment as an allowance for credit loss in our condensed consolidated statements of operations. Any other impairments not recorded through allowance for credit losses is recognized in our other comprehensive income.

Fair Value Measurements

Fair value is defined as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or the liability in an orderly transaction between market participants on the measurement date. Additionally, a fair value hierarchy was established that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable inputs. The level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

Our assets and liabilities measured at fair value on a recurring basis are classified and disclosed in one of the following three categories:

Level 1—quoted prices (unadjusted) in active markets for identical assets and liabilities;

Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; and

Level 3—unobservable inputs in which there is little or no market data available, which require the reporting entity to use significant unobservable inputs or valuation techniques.

Contingent consideration represents contingent milestone, performance and revenue-sharing payment obligations related to acquisitions and is measured at fair value, based on significant inputs that are not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The valuation of contingent consideration uses assumptions we believe would be made by a market participant. We assess these assumptions on an ongoing basis as additional data impacting the assumptions is obtained. The fair value of contingent consideration is recorded in business acquisition liabilities on our condensed consolidated balance sheets, and changes in the fair value of contingent consideration are recognized in acquisition-related costs in the condensed consolidated statements of operations and comprehensive income. The fair value of contingent restricted stock unit (“RSU”) grants are recorded as additional paid-in capital in the consolidated balance sheet on the day of the grant due to the remote likelihood of forfeiture.

The purchase price of business acquisitions is primarily allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition date, with the excess recorded as goodwill. We utilize Level 3 inputs in the determination of the initial fair value.

Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined on a first-in, first-out basis. The majority of our inventory is finished goods and we utilize both in-house manufacturing and third-party suppliers to produce our products. We periodically evaluate the carrying value of our inventories in relation to estimated forecasts of product demand, which takes into consideration the life cycle of product releases. When quantities on hand exceed estimated sales forecasts, we record a write-down for such excess inventories. Once inventory has been written down, it creates a new cost basis for inventory that is not subsequently written up.

Goodwill and Intangible Assets

Goodwill represents the excess of purchase price over the fair values of the identifiable assets acquired less the liabilities assumed in the acquisition of a business. Goodwill is tested for impairment at least annually or whenever events or circumstances indicate that a carrying amount may not be recoverable. Goodwill is tested for impairment at the reporting unit level by comparing the reporting unit’s carrying amount to the estimated fair value of the reporting unit. Fair values are estimated using an income and discounted cash flow approach. We perform our annual impairment test of goodwill in the fourth quarter of each year. We consider qualitative indicators of the fair value of a reporting unit when it is unlikely that a reporting unit has impaired goodwill.

Intangible assets consist of purchased developed technology, customer relationships, in-process research and development (“IPR&D”), supplier network, patents, re-acquired rights, and non-compete agreements. Intangible assets with finite useful lives are amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from 1 to 21 years. Intangible assets with finite useful lives are tested whenever events or circumstances indicate that a carrying amount of an asset (asset group) may not be recoverable. If an impairment is indicated, we measure the amount of the impairment loss as the amount by which the carrying amount exceeds the fair value of the asset. Fair value is generally determined using a discounted future cash flow analysis.

IPR&D has an indefinite life and is not amortized until completion of the project at which time the IPR&D becomes an amortizable asset. Intangible assets with indefinite useful lives are tested for impairment annually or whenever events or circumstances indicate that a carrying amount of an asset (asset group) may not be recoverable. If the related project is not completed in a timely manner, we may have an impairment related to the IPR&D, calculated as the excess of the asset’s carrying value over its fair value.

During the three and six months ended June 30, 2024, there were no impairments in goodwill, finite-lived intangible assets, or IPR&D.

Stock-Based Compensation

The cost of employee and non-employee director awards is measured at the grant date fair value of the award and is recognized as expense over the requisite service period, which is generally the vesting period of the equity award. Expense for performance-based restricted stock units is recognized when the performance condition is deemed to be probable. Compensation expense for awards includes the impact of forfeiture in the period when they occur.

We estimate the fair value of stock options utilizing the Black-Scholes option-pricing model. Inputs to the Black-Scholes model include our stock price, expected volatility, expected term, risk-free interest rate and expected dividends. Expected volatility is based on the historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected term of the Company’s stock options offering period which is derived from historical experience. The risk-free interest rate assumption is based on observed interest rates of U.S. Treasury securities appropriate for the expected terms of the stock options. The dividend yield

assumption is based on the history and expectation of no dividend payouts. The respective fair values of restricted stock units and performance restricted stock units are estimated on the day of grant based on the closing price of the Company’s common stock.

We assumed equity-classified awards for certain NuVasive restricted stock units (“RSUs”), and performance restricted stock units (“PRSUs”), as part of the Merger. These RSUs and PRSUs are measured at the grant date based on the estimated fair value of the award. The fair value of equity instruments that are expected to vest is recognized and amortized over the requisite service period. The Company has granted awards with up to five-year graded or cliff vesting terms (in each case, with service through the date of vesting being required). No exercise price or other monetary payment is required for receipt of the shares issued in settlement of the respective award; instead, consideration is furnished in the form of the participant’s service to the Company.

The fair value of RSUs including PRSUs with pre-defined performance criteria is based on the stock price on the date of grant whereas the expense for PRSUs with pre-defined performance criteria is adjusted with the probability of achievement of such performance criteria at each period end.

Derivative Financial Instruments

The Company recognizes all derivative instruments as assets or liabilities in its unaudited condensed Consolidated Balance Sheets and measures these instruments at fair value by revaluing these assets and liabilities at the end of each reporting period. Gains and losses are recorded as a component of other expense, net in the unaudited condensed consolidated statements of operations and comprehensive income. The effects of these derivative instruments are immaterial to the Company’s financial statements.

Other Comprehensive Income (Loss)

Other comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. Other comprehensive income (loss) includes net of tax, unrealized gains or losses on the Company’s marketable debt securities and foreign currency translation adjustments.

Acquisition-Related Costs

Acquisition-related costs represents the change in fair value of business acquisition-related contingent consideration and specific costs related to the consummation of the acquisition process such as banker fees, legal fees and other acquisition-related professional fees

Restructuring Costs

Restructuring costs represent costs associated with the 2024 Synergy Plan. This plan was designed to optimize the organizational structure, merge synergies and leverage the strength of both commercial organizations. As a result of aligning the cost structure of the Company’s businesses and corporate functions with its financial objectives; the Company also recorded employee separation charge and one-time termination benefits.

Accounts Receivable and Related Valuation Accounts

Accounts receivable in the accompanying unaudited condensed consolidated balance sheets are presented net of allowances for expected credit losses. We maintain an allowance for expected credit losses resulting from the inability of its customers, including hospitals, ambulatory surgery centers, and distributors, to make required payments.

The allowance for credit losses is calculated quarterly and is estimated on a region-by-region basis considering a number of factors including age of account balances, collection history, historical account write-offs, third-party credit reports, identified trends, current economic conditions, and supportable forecasted economic expectations. The allowance is adjusted on a specific identification basis for certain accounts as well as pooling of accounts with similar characteristics. An increase in the provision for credit losses may be required when the financial condition of our customers or their collection experience deteriorates. Our exposure to credit losses may also increase if its customers are adversely affected by changes in healthcare laws, coverage and reimbursement, macroeconomic pressures or uncertainty associated with local or global economic recessions, disruption associated with pandemics, or other customer-specific factors.

Recently Issued and Adopted Accounting Pronouncements

(q) Recently Issued Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board (the “FASB”), issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures, to enhance the transparency and decision-making utility of income tax disclosures. The enhancement will provide information to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. Investors currently rely on the rate reconciliation table and other disclosures, including total income taxes paid, to evaluate income tax risks and opportunities. This

update is effective for fiscal years beginning after December 15, 2024 and early adoption is permitted. The amendments should be applied prospectively with retrospective applications also permitted. The Company is currently evaluating the impact the standard will have on its consolidated financial statements and related disclosures.

In November 2023, the FASB, issued ASU No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures, to improve reportable segment disclosure requirements. The amendment introduced new requirements to disclose significant segment expenses regularly provided to the chief operating decision maker (“CODM”), extend certain annual disclosures to interim periods, clarify that single reportable segment entities must apply ASC 280 in its entirety, permit more than one measure of segment profit or loss to be reported under certain conditions, and require disclosure of the title and position of the CODM. This update is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years after December 15, 2024, early adoption is permitted. The amendments should be applied retrospectively. The Company is currently evaluating the impact the standard will have on its consolidated financial statements and related disclosures.

(r) Recently Adopted Accounting Pronouncements

In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement (Topic 820), Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The ASU introduces new disclosure requirements to provide investors with information about contractual restrictions, including the nature and remaining duration of such restrictions. This update is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted. The amendments should be applied prospectively with any adjustments from the adoption of the amendments recognized in earnings and disclosed on the date of adoption. The Company adopted ASU No. 2022-03 as of January 1, 2024. The adoption did not have any material impact on the Company’s consolidated financial statements.

In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires an entity (acquirer) to recognize and measure contract assets and liabilities acquired in a business combination in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers. This update is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years, with early adoption permitted. The amendments should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The Company adopted ASU No. 2021-08 as of January 1, 2023. The adoption did not have a material impact on the Company’s consolidated financial statements.

GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2024

GOODWILL AND INTANGIBLE ASSETS [Abstract]

Summary of Goodwill



(In thousands)
December 31, 2022	$	197,471
Additions and adjustments		1,235,890
Foreign exchange		1,179
December 31, 2023		1,434,540
Additions and adjustments		20,953
Foreign exchange		(1,376)
June 30, 2024	$	1,454,117

Summary of Intangible Assets



		June 30, 2024
(In thousands)	Weighted Average Amortization Period (in years)	Gross ‎Carrying ‎Amount		Accumulated ‎Amortization			Intangible ‎Assets, ‎net
Supplier network	10.0	$	4,000		$	(3,867)		$	133
Customer relationships & other intangibles	10.6		352,671			(67,894)			284,777
Developed technology	8.0		694,344			(116,961)			577,383
Patents	16.1		9,063			(4,791)			4,272
Total intangible assets		$	1,060,078		$	(193,513)		$	866,565

Intangible assets as of December 31, 2023 included the following:



		December 31, 2023
(In thousands)	Weighted Average Amortization Period (in years)	Gross ‎Carrying ‎Amount		Accumulated ‎Amortization		Intangible ‎Assets, ‎net
Supplier network	10.0	$	4,000	$	(3,667)	$	333
Customer relationships & other intangibles	10.6		353,849		(54,871)		298,978
Developed technology	8.0		695,226		(74,636)		620,590
Patents	16.1		9,266		(4,564)		4,702
Total intangible assets		$	1,062,341	$	(137,738)	$	924,603

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table summarizes amortization of intangible assets for future periods as of June 30, 2024:


(In thousands)	Annual ‎Amortization
Remaining 2024	$	59,912
2025		113,882
2026		110,202
2027		109,219
2028		105,764
Thereafter		367,586
Total	$	866,565

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

BACKGROUND (Narrative) (Details) - $ / shares		6 Months Ended
BACKGROUND (Narrative) (Details) - $ / shares	Sep. 01, 2023	Jun. 30, 2024	Dec. 31, 2023
NuVasive Merger Agreement [Member]
Common stock, par value		$ 0.001
Common Class A [Member]
Common stock, par value		$ 0.001	$ 0.001
Conversion ratio of common stock		1
Common Class A [Member] \| NuVasive Merger Agreement [Member]
Conversion ratio of common stock	0.75	0.75

GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2024

GOODWILL AND INTANGIBLE ASSETS [Abstract]

Goodwill And Intangible Assets

NOTE 9. GOODWILL AND INTANGIBLE ASSETS

The change in the carrying amount of goodwill during the twelve months ended December 31, 2023 and the six months ended June 30, 2024, respectively included the following:



(In thousands)
December 31, 2022	$	197,471
Additions and adjustments		1,235,890
Foreign exchange		1,179
December 31, 2023		1,434,540
Additions and adjustments		20,953
Foreign exchange		(1,376)
June 30, 2024	$	1,454,117

Intangible assets as of June 30, 2024 included the following:



		June 30, 2024
(In thousands)	Weighted Average Amortization Period (in years)	Gross ‎Carrying ‎Amount		Accumulated ‎Amortization			Intangible ‎Assets, ‎net
Supplier network	10.0	$	4,000		$	(3,867)		$	133
Customer relationships & other intangibles	10.6		352,671			(67,894)			284,777
Developed technology	8.0		694,344			(116,961)			577,383
Patents	16.1		9,063			(4,791)			4,272
Total intangible assets		$	1,060,078		$	(193,513)		$	866,565

Intangible assets as of December 31, 2023 included the following:



		December 31, 2023
(In thousands)	Weighted Average Amortization Period (in years)	Gross ‎Carrying ‎Amount		Accumulated ‎Amortization		Intangible ‎Assets, ‎net
Supplier network	10.0	$	4,000	$	(3,667)	$	333
Customer relationships & other intangibles	10.6		353,849		(54,871)		298,978
Developed technology	8.0		695,226		(74,636)		620,590
Patents	16.1		9,266		(4,564)		4,702
Total intangible assets		$	1,062,341	$	(137,738)	$	924,603

The following table summarizes amortization of intangible assets for future periods as of June 30, 2024:


(In thousands)	Annual ‎Amortization
Remaining 2024	$	59,912
2025		113,882
2026		110,202
2027		109,219
2028		105,764
Thereafter		367,586
Total	$	866,565

LEASES (Summary of Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
LEASES [Abstract]
Operating cash flows from operating leases	$ 9,785	$ 1,248
Operating cash flows for finance leases	668
Financing cash flows for finance leases	611
Total cash paid for amounts included in the measurement of lease liabilities	11,064	1,248
Right-of-use assets obtained in exchange for lease obligations - Operating leases	$ 1,507	$ 2,527
Weighted-average remaining lease term (years) - operating leases	9 years 1 month 6 days	2 years 9 months 18 days
Weighted-average remaining lease term (years) - financing leases	2 years 4 months 24 days
Weighted-average discount rate - operating leases	5.30%	3.60%
Weighted-average discount rate - financing leases	5.00%

INVENTORIES (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
INVENTORIES [Abstract]
Raw materials	$ 120,846	$ 103,349
Work in process	35,743	37,321
Finished goods	613,874	707,465
Total inventories	$ 770,463	$ 848,135

RESTRUCTURING AND OTHER COSTS

6 Months Ended

Jun. 30, 2024

RESTRUCTURING AND OTHER COSTS [Abstract]

Restructuring And Other Costs

NOTE 15. RESTRUCTURING AND OTHER COSTS

For the three months ended June 30, 2024, the Company incurred restructuring and other costs primarily related to employee termination benefits as a part of the 2024 Synergy Plan. The 2024 Synergy Plan was designed to optimize the organizational structure of Globus by reducing the size of our workforce. Impacted employees were notified during January 2024. Totals include stock based compensation expense, classified in accordance with ASC Topic 420, Exit or Disposal Cost Obligations, where applicable.

The following table provides a summary of recognized pre-tax costs for the three and six months ended June 30, 2024:


	Three Months Ended		Six Months Ended
(In thousands)	June 30, 2024		June 30, 2024
Cost of Sales	$	—	$	143
Research and Development		25		1,520
Selling, General and Administrative		53		3,236
Restructuring Costs		(566)		18,575
Total restructuring and other costs	$	(488)	$	23,474

The following table provides a summary of activity related to the restructuring program for the three and six months ended June 30, 2024:


	Three Months Ended		Six Months Ended
(In thousands)	June 30, 2024		June 30, 2024
Beginning Balance	$	10,638	$	—
Charges		(488)		23,474
Cash Payments		(1,142)		(9,645)
Settled non-cash		(78)		(4,899)
June 30, 2024	$	8,930	$	8,930

MARKETABLE SECURITIES (Composition of Marketable Securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Short-term	$ 83,413	$ 51,630
Gross Unrealized Gains, Short-term	2
Gross Unrealized Losses, Short-term	(906)	(1,133)
Fair Value, Short-term	82,509	50,497
Amortized Cost, Long-term	28,212	76,749
Gross Unrealized Losses, Long-term	(417)	(1,321)
Fair Value, Long-term	27,795	75,428
Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Short-term	8,252	11,210
Gross Unrealized Losses, Short-term	(27)	(224)
Fair Value, Short-term	8,225	10,986
Amortized Cost, Long-term	5,708	7,180
Gross Unrealized Losses, Long-term	(92)	(109)
Fair Value, Long-term	5,616	7,071
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Short-term	51,513	38,416
Gross Unrealized Gains, Short-term	2
Gross Unrealized Losses, Short-term	(486)	(853)
Fair Value, Short-term	51,029	37,563
Amortized Cost, Long-term	1,748	21,707
Gross Unrealized Losses, Long-term	(29)	(432)
Fair Value, Long-term	1,719	21,275
Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Long-term	12,885	17,499
Gross Unrealized Losses, Long-term	(209)	(338)
Fair Value, Long-term	12,676	17,161
Government, Federal Agency, And Other Sovereign Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Short-term	23,648	2,004
Gross Unrealized Losses, Short-term	(393)	(56)
Fair Value, Short-term	23,255	1,948
Amortized Cost, Long-term	7,871	30,363
Gross Unrealized Losses, Long-term	(87)	(442)
Fair Value, Long-term	$ 7,784	$ 29,921

STOCK-BASED AWARDS (Summary of Performance-Based Restricted Stock Unit Activity) (Details) - PRSU's [Member] shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning Balance \| shares	106
Vested \| shares	(5)
Forfeited \| shares	(13)
Outstanding, Ending Balance \| shares	88
Weighted average grant date fair value per share, Beginning Balance \| $ / shares	$ 53.61
Weighted average grant date fair value per share, Vested \| $ / shares	54.10
Weighted average grant date fair value per share, Forfeited \| $ / shares	54.10
Weighted average grant date fair value per share, Ending Balance \| $ / shares	$ 53.46
Weighted average remaining contractual life (years)	2 years 1 month 2 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

INVENTORIES (Tables)

6 Months Ended

Jun. 30, 2024

INVENTORIES [Abstract]

Schedule of Inventory



	June 30,		December 31,
(In thousands)	2024		2023
Raw materials	$	120,846	$	103,349
Work in process		35,743		37,321
Finished goods		613,874		707,465
Total inventories	$	770,463	$	848,135

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Goodwill impairment	$ 0	$ 0
Impairment of finite-lived intangible assets	0	0
Impairment of intangible assets	$ 0	$ 0
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful lives	1 year	1 year
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful lives	21 years	21 years

MARKETABLE SECURITIES (Tables)

6 Months Ended

Jun. 30, 2024

MARKETABLE SECURITIES [Abstract]

Composition of Marketable Securities

The composition of our short-term and long-term marketable securities was as follows:



	June 30, 2024
(In thousands)	Amortized ‎Cost		Gross ‎Unrealized ‎Gains		Gross Unrealized Losses		Fair ‎Value
Short-term:
Municipal bonds	$	8,252	$	—	$	(27)	$	8,225
Corporate debt securities		51,513		2		(486)		51,029
Government, federal agency, and other sovereign obligations		23,648		—		(393)		23,255
Total short-term marketable securities	$	83,413	$	2	$	(906)	$	82,509

Long-term:
Municipal bonds	$	5,708	$	—	$	(92)	$	5,616
Corporate debt securities		1,748		—		(29)		1,719
Asset-backed securities		12,885		—		(209)		12,676
Government, federal agency, and other sovereign obligations		7,871		—		(87)		7,784
Total long-term marketable securities	$	28,212	$	—	$	(417)	$	27,795



	December 31, 2023
(In thousands)	Amortized ‎Cost		Gross ‎Unrealized ‎Gains		Gross ‎Unrealized ‎Losses		Fair ‎Value
Short-term:
Municipal bonds	$	11,210	$	—	$	(224)	$	10,986
Corporate debt securities		38,416		—		(853)		37,563
Government, federal agency, and other sovereign obligations		2,004		—		(56)		1,948
Total short-term marketable securities	$	51,630	$	—	$	(1,133)	$	50,497

Long-term:
Municipal bonds	$	7,180	$	—	$	(109)	$	7,071
Corporate debt securities		21,707		—		(432)		21,275
Asset-backed securities		17,499		—		(338)		17,161
Government, federal agency, and other sovereign obligations		30,363		—		(442)		29,921

Total long-term marketable securities

76,749

—

(1,321)

75,428

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Summary Of Significant Accounting Policies

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Presentation

(b) Prior Period Reclassifications

Variable Interest Entities

(d) Use of Estimates

(e) Revenue Recognition

Contract Balances

The changes to contract liabilities related to deferred revenue are as follows:


	Six Months Ended
	June 30,
(In thousands)	2024
Beginning contract liabilities	$	27,749
Revenue recognized from beginning of year contract liabilities		(13,548)
Net advance consideration received during the period		15,660
Ending contract liabilities	$	29,861

(f) Cash and Cash Equivalents

(g) Marketable Securities

(h) Fair Value Measurements

Our assets and liabilities measured at fair value on a recurring basis are classified and disclosed in one of the following three categories:

Level 1—quoted prices (unadjusted) in active markets for identical assets and liabilities;

Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; and

Level 3—unobservable inputs in which there is little or no market data available, which require the reporting entity to use significant unobservable inputs or valuation techniques.

(i) Inventories

(j) Goodwill and Intangible Assets

During the three and six months ended June 30, 2024, there were no impairments in goodwill, finite-lived intangible assets, or IPR&D.

(k) Stock-Based Compensation

(l) Derivative Financial Instruments

(m) Other Comprehensive Income (Loss)

(n) Acquisition-Related Costs

(o) Restructuring Costs

(p) Accounts Receivable and Related Valuation Accounts

(q) Recently Issued Accounting Pronouncements

(r) Recently Adopted Accounting Pronouncements

ACCRUED EXPENSES (Tables)

6 Months Ended

Jun. 30, 2024

ACCRUED EXPENSES [Abstract]

Schedule of Accrued Expenses



	June 30,		December 31,
(In thousands)	2024		2023
Compensation and other employee-related costs	$	114,558	$	140,817
Legal and other settlements and expenses		4,342		9,335
Accrued non-income taxes		27,449		23,726
Royalties		10,271		10,130
Rebates		32,723		27,605
Other		26,542		28,847
Total accrued expenses	$	215,885	$	240,460

RESTRUCTURING AND OTHER COSTS (Summary Of Activity Related To Restructuring Program) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
RESTRUCTURING AND OTHER COSTS [Abstract]
Beginning balance	$ 10,638
Charges	(488)	23,474
Cash Payments	(1,142)	(9,645)
Settled non-cash	(78)	(4,899)
Ending balance	$ 8,930	$ 8,930

DEBT

6 Months Ended

Jun. 30, 2024

DEBT [Abstract]

Debt

NOTE 11. DEBT

The carrying values of the Company’s 2025 Notes, acquired in the NuVasive merger, as of June 30, 2024, were as follows:


	June 30, 2024		December 31,
(In thousands)	2024		2023
0.375% Senior Convertible Notes due 2025:
Principal	$	449,987	$	449,987
Unamortized fair value adjustment for acquisition accounting		19,973		33,275
0.375% Senior Convertible Notes due 2025		430,014		416,712
Embedded Conversion Option		471		687
Debt, net of unamortized fair value adjustments for acquisition accounting	$	430,485	$	417,399


	Three Months June 30,				Six Months Ended June 30,
(In thousands)	2024		2023		2024		2023
Interest expense:
Contractual coupon interest	$	422	$	—	$	844	$	—
Amortization of fair value adjustments for acquisition accounting		6,658		—		13,315		—
Total interest expense recognized on Senior Convertible Notes due 2025	$	7,080	$	—	$	14,160	$	—

Effective interest rates:
Senior Convertible Notes due 2025		6.6%		0.0%		6.6%		0.0%

Line of Credit

In September 2023, we entered into an unsecured credit agreement with U.S. Bank National Association, as administrative agent, Citizens Bank, N.A., as syndication agent, Royal Bank of Canada, as documentation agent, U.S. Bank National Association and Citizens Bank, N.A., as joint lead arrangers and joint book runners, and the other lenders referred to therein (the “September 2023 Credit Agreement”) that provides a revolving credit facility permitting borrowings up to $400.0 million and has a termination date of September 27, 2028. We may request an increase in the revolving commitments in an aggregate amount not to exceed (i) $200 million or (ii) so long as the Leverage Ratio (as defined in the September 2023 Credit Agreement) is at least 0.25 to 1.00 less than the applicable Leverage Ratio then required under the September 2023 Credit Agreement, an unlimited amount. Revolving Loans under the September 2023 Credit Agreement bear interest at either a base rate or the Term SOFR Rate (as defined in the Revolving Credit Facility) plus, in each case, an applicable margin, as determined in accordance with the provisions of the September 2023 Credit Agreement. The Applicable Margin ranges from 0.125% to 0.625% for the Base Rate and 1.125% to 1.625% for the Term SOFR Rate. We may also request Swingline Loans (as defined in the September 2023 Credit Agreement) at either the Base Rate or the Daily Term SOFR Rate. The September 2023 Credit Agreement is guaranteed by certain direct or indirect wholly owned subsidiaries of the Company. The September 2023 Credit Agreement contains financial and other customary covenants, including a funded net indebtedness to adjusted EBITDA ratio. As of June 30, 2024, we have not borrowed under the September 2023 Credit Agreement and we were in compliance with all covenants.

0.375% Senior Convertible Notes due 2025

On September 1, 2023, in connection with the closing of the Merger, the Company, NuVasive and Wilmington Trust National Association, as trustee (the “Trustee”) entered into a supplemental agreement (the “First Supplemental Indenture”) to the Indenture, dated March 2, 2020 (the “Base Indenture”), by and between NuVasive and the Trustee, relating to NuVasive’s $450.0 million in aggregate principal amount of 0.375% Convertible Senior Notes due 2025. As of the closing date of the Merger, $450 million of aggregate principal amount of the 2025 Notes were outstanding.

Pursuant to the First Supplemental Indenture, the 2025 Notes are convertible into the Company’s Class A Common at a conversion rate of 8.0399 shares per $1,000 principal amount of 2025 Notes, which is equivalent to a conversion price of approximately $124.38 per share, subject to adjustments. The 2025 Notes may be settled in cash, stock, or a combination thereof, solely at the Company’s discretion. Pursuant to the terms of the First Supplemental Indenture, Globus agreed to guarantee NuVasive’s obligations under the Indenture. The 2025 Notes bear interest at a rate of 0.375% per annum, payable semi-annually in arrears on March 15 and September 15 of each year. The 2025 Notes mature on March 15, 2025, unless earlier converted, redeemed, or repurchased in accordance with their terms.

The Merger constituted a Merger Event as defined in the Base Indenture. In the event of a Merger Event, the Company is required to execute a supplemental indenture providing for (i) each holder of 2025 Notes with the right to convert each $1,000 principal amount of 2025 Notes into the same type of consideration that holders would have been entitled to receive if such holders had held a number of shares of NuVasive Common Stock equal to the applicable conversion rate in effect immediately prior to such Merger Event, and (ii) subsequent adjustments to the conversion rate set forth in the Base Indenture.

Prior to September 15, 2024, holders may convert their 2025 Notes only under the following conditions:

(a)during any calendar quarter commencing after the calendar quarter ending on June 30, 2020 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;

(b)during the five business day period after any five consecutive trading day period, or the measurement period, in which the trading price of the 2025 Notes per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on such trading day;

(c)if the Company calls any or all of the 2025 Notes for redemption, at any time prior to the close of business on the second scheduled trading day preceding the redemption date; or

(d)upon the occurrence of specified corporate events, as defined in the 2025 Notes.

On or after September 15, 2024, until the close of business on the second scheduled trading day immediately preceding March 15, 2025, holders may convert their 2025 Notes at any time, regardless of the foregoing conditions. In addition, following certain corporate events that occur prior to the maturity date or if the Company issues a notice of redemption, the Company will increase the conversion rate for a holder who elects to convert its 2025 Notes in connection with such a corporate event or in connection with such redemption in certain circumstances.

The Company may redeem the 2025 Notes, at its option, in whole or in part, until the close of business on the business day immediately preceding September 15, 2024, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company delivers written notice of a redemption. The redemption price will be equal to 100% of the principal amount of such 2025 Notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date. No principal payments are due on the 2025 Notes prior to maturity. Other than restrictions relating to certain fundamental changes and consolidations, mergers or asset sales and customary anti-dilution adjustments, the 2025 Notes do not contain any financial covenants and do not restrict the Company from conducting significant restructurings, paying dividends or issuing or repurchasing any of its other securities.

Upon the initial recognition of the 2025 Notes pursuant to the purchase accounting for the Merger, the embedded conversion feature does not meet the equity scope exception described in ASC 815-40, Contracts in Entity’s Own Equity. The embedded conversion feature is bifurcated and presented as a liability on the consolidated balance sheet with subsequent measurement at fair value with changes in fair value recognized as “Other income/(expense)”. The Company recognized, at Merger closing, the embedded conversion feature at fair value of $0.7 million and allocated the residual $407.8 million of the 2025 Notes fair value to the host debt instrument. As of the June 30, 2024, the fair value of the embedded conversion feature was $0.5 million. As a result of the Merger and recognizing the fair value of the 2025 Notes, along with the embedded conversion feature, as of the acquisition date, the Company recorded $42.2 million debt discount to be accreted as interest expense over the life of the notes.

2025 Hedges

On September 1, 2023, in connection with the closing of the Merger, the Company, NuVasive, and certain dealers entered into amendment and guarantee agreements with respect to privately negotiated call option transactions (“2025 Hedges”) pursuant to which NuVasive purchased options from such dealers exercisable into its own common stock in connection with the sale of the 2025 Notes. Pursuant to such amendment and guarantee agreements, the 2025 Hedges are exercisable into Globus Class A Common in certain circumstances and the Company guaranteed NuVasive’s obligations under the 2025 Hedges. Subject to the amended 2025 Hedge, the Company is entitled to purchase up to 3,617,955 shares of the Company’s Class A Common at a strike price of $124.38. The 2025 Hedge will expire on the second scheduled trading day immediately preceding March 15, 2025 and is expected to reduce the potential equity dilution upon conversion of the 2025 Notes if the daily volume-weighted average price per share of the Company’s common stock exceeds the strike price of the 2025 Hedge.

In accordance with ASC 805, the Company recognized the 2025 Hedge at an acquisition date fair value of $1.7 million. The 2025 Hedge does not meet the equity scope exception described in ASC 815-40, Contract in Entity’s Own Equity, and will be presented as asset on the consolidated balance sheet with subsequent measurement at fair value with changes in fair value recognized as “Other income/(expense)”. As of June 30, 2024, the fair value of the 2025 Hedge is $0.5 million recorded within the Other Assets with the consolidated balance sheet. An assumed exercise of the 2025 Hedge by NuVasive is considered anti-dilutive since the effect of the inclusion would always be anti-dilutive with respect to the calculation of diluted earnings per share.

2025 Warrants

On September 1, 2023, in connection with the closing of the Merger, the Company, NuVasive, and certain dealers entered into amendment and guarantee agreements with respect to privately negotiated warrant transactions (“2025 Warrants”), pursuant to which NuVasive sold warrants to such dealers for its own common stock in connection with the initial sale of the 2025 Notes. Pursuant to such amendment and guarantee agreements, the warrants are exercisable into Globus Class A Common in certain circumstances and the Company guaranteed NuVasive’s obligations under the 2025 Warrants. Subject to the amended 2025 Warrants, the holders of the 2025 Warrants are entitled to purchase up to 3,617,955 shares of the Company’s common stock at a strike price of $170.45. The 2025 Warrants will expire on various dates from June 2025 through October 2025 and may be settled in net shares or cash, at the Company’s election.

In accordance with ASC 805, the Company recognized the 2025 Warrants at an acquisition date fair value of $0.6 million within additional paid-in capital. The 2025 Warrants could have a dilutive effect on the Company’s earnings per share to the extent that the price of the Company’s common stock during a given measurement period exceeds the strike price of the 2025 Warrants, which is

$170.45 per share. The Company uses the treasury share method for assumed exercise of its 2025 Warrants to compute the weighted average common shares outstanding for diluted earnings per share.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

DEBT (Narrative I) (Details)	1 Months Ended	6 Months Ended
DEBT (Narrative I) (Details)	Sep. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) item $ / shares shares	Dec. 31, 2023 USD ($)	Sep. 01, 2023 USD ($)
Revolving Credit Facility [Member] \| Citizens Bank [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 400,000,000.0
Credit facility, amount of possible increase	$ 200,000,000
Line of credit facility, expiration date		Sep. 27, 2028
Line of credit, borrowed amount		$ 0
Revolving Credit Facility [Member] \| Minimum [Member] \| Citizens Bank [Member]
Debt Instrument [Line Items]
Leverage ratio		0.25
Revolving Credit Facility [Member] \| Minimum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate	0.125%
Revolving Credit Facility [Member] \| Minimum [Member] \| SOFR [Member]
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate	1.125%
Revolving Credit Facility [Member] \| Maximum [Member] \| Citizens Bank [Member]
Debt Instrument [Line Items]
Leverage ratio		1.00
Revolving Credit Facility [Member] \| Maximum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate	0.625%
Revolving Credit Facility [Member] \| Maximum [Member] \| SOFR [Member]
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate	1.625%
Convertible Debt [Member]
Debt Instrument [Line Items]
Debt conversion, converted instrument, shares issued \| shares		8.0399
Debt Conversion, converted Instrument, Amount		$ 1,000
Conversion price \| $ / shares		$ 124.38
Debt, face amount				$ 450,000,000.0
Stated interest rate		0.375%	0.375%	0.375%
Principal amount		$ 449,987,000	$ 449,987,000	$ 450,000,000
Embedded conversion option		471,000	$ 687,000
Debt discount to be accreted as interest expense		$ 42,200,000
Debt instrument, maturity date		Mar. 15, 2025
Principal payments		$ 0
Convertible Debt [Member] \| 0.375% Senior Convertible Notes due 2025 [Member]
Debt Instrument [Line Items]
Residual amount allocated to host debt instrument				407,800,000
Embedded conversion option		$ 500,000		$ 700,000
Convertible Debt [Member] \| Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Threshold trading days \| item		20
Threshold consecutive trading days \| item		30
Threshold percentage of stock price trigger		130.00%
Convertible Debt [Member] \| Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Debt Conversion, converted Instrument, Amount		$ 1,000
Threshold trading days \| item		5
Threshold consecutive trading days \| item		5
Threshold percentage of stock price trigger		98.00%
Convertible Debt [Member] \| Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Threshold trading days \| item		20
Threshold consecutive trading days \| item		30
Threshold percentage of stock price trigger		130.00%
Debt Instrument, Redemption Price, Percentage		100.00%

SEGMENT AND GEOGRAPHIC INFORMATION (Narrative) (Details)	6 Months Ended
	Jun. 30, 2024 item
SEGMENT AND GEOGRAPHIC INFORMATION [Abstract]
Number of reportable segments	1
Number of operating segments	2

PROPERTY AND EQUIPMENT (Schedule of Depreciation Related to Property and Equipment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
PROPERTY AND EQUIPMENT [Abstract]
Depreciation	$ 33,880	$ 13,528	$ 59,464	$ 27,035

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS (Summary Of Estimated Fair Value Of Identifiable Assets Acquired) (Details) - NuVasive [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Developed Technology [Member]
Business Acquisition [Line Items]
Fair Value	$ 607,000
Useful Life	8 years
Customer Relationships & Other Intangibles [Member]
Business Acquisition [Line Items]
Fair Value	$ 292,000
Useful Life	11 years

LEASES (Tables)

6 Months Ended

Jun. 30, 2024

LEASES [Abstract]

Amount Reported in Condensed Consolidated Balance Sheet


	June 30,		December 31,
(In thousands)	2024		2023
Asset:
Operating lease right-of-use asset	$	53,881	$	59,931
Finance lease right-of-use asset		1,660		797
Total leased assets	$	55,542	$	60,728

Liabilities:
Current:
Operating lease liability		11,118		11,967
Finance lease liability		1,038		475
Long-term:
Operating lease liability		87,702		91,037
Finance lease liability		684		337
Total lease liabilities	$	100,542	$	103,816

Lease Expense


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Lease expense:
Operating lease expense	$	6,593	$	982	$	12,200	$	1,930
Finance lease expense
Depreciation of right-of-use asset		165		—		348		—
Interest expense on lease liabilities		27		—		56		—
Total lease expense	$	6,785	$	982	$	12,604	$	1,930

Future Minimum Lease Payments


(In thousands)		Finance ‎Leases		Operating ‎Leases
Remaining 2024	$	632	$	8,916
2025		849		15,505
2026		314		14,128
2027		18		12,942
2028		4		11,820
Thereafter		—		74,150
Total minimum lease payments	$	1,818	$	137,461
Less: amount representing interest		(97)		(38,641)
Present value of obligations under leases		1,722		98,820
Less: current portion		(1,038)		(11,118)
Long-term lease obligations	$	684	$	87,702

Summary of Supplemental Cash Flow Information


	Six Months Ended
	June 30,		June 30,
(In thousands, except weighted average lease term and discount rate)	2024		2023
Other supplemental cash flow information:
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	9,785	$	1,248
Operating cash flows for finance leases		668		—
Financing cash flows for finance leases		611		—
Total cash paid for amounts included in the measurement of lease liabilities	$	11,064	$	1,248

Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	1,507	$	2,527
Financing leases	$	—	$	—
Weighted-average remaining lease term
Operating leases		9.1		2.8
Financing leases		2.4		—
Weighted-average discount rate
Operating leases		5.3%		3.6%
Financing leases		5.0%		—

INCOME TAXES (Summary of Effective Tax Rate) (Details)	3 Months Ended		6 Months Ended
INCOME TAXES (Summary of Effective Tax Rate) (Details)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
INCOME TAXES [Abstract]
Effective income tax rate	33.20%	22.70%	36.90%	22.50%

NET SALES (Tables)

6 Months Ended

Jun. 30, 2024

NET SALES [Abstract]

Schedule of Net Sales by Product Category



	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Musculoskeletal Solutions	$	592,913	$	256,855	$	1,167,610	$	508,462
Enabling Technologies		36,778		34,760		68,747		59,841
Total net sales	$	629,691	$	291,615	$	1,236,357	$	568,303

RESTRUCTURING AND OTHER COSTS (Summary of Recognized Pre-tax Costs) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	$ (488)	$ 23,474
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs		143
Research and Development [Member]
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	25	1,520
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	53	3,236
Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	$ (566)	$ 18,575

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME [Abstract]
Net sales	$ 629,691	$ 291,615	$ 1,236,357	$ 568,303
Cost of sales	260,040	76,473	501,527	147,298
Gross profit	369,651	215,142	734,830	421,005
Operating expenses:
Research and development	37,698	21,347	94,966	42,429
Selling, general and administrative	238,119	120,069	486,829	242,485
Provision for litigation, net	1,335	(2,740)	1,304	(2,740)
Amortization of intangibles	29,709	4,547	59,385	9,148
Acquisition-related costs	13,734	5,707	16,152	7,068
Restructuring Costs	(566)		18,575
Total operating expenses	320,029	148,930	677,211	298,390
Operating income/(loss)	49,622	66,212	57,619	122,615
Other income/(expense), net
Interest income/(expense), net	(2,335)	8,294	(4,229)	14,791
Foreign currency transaction gain/(loss)	(703)	(548)	(16,074)	(336)
Other income/(expense)	997	716	1,707	793
Total other income/(expense), net	(2,041)	8,462	(18,596)	15,248
Income/(loss) before income taxes	47,581	74,674	39,023	137,863
Income tax provision/(benefit)	15,821	16,962	14,380	31,022
Net income/(loss)	31,760	57,712	24,643	106,841
Other comprehensive income/(loss), net of tax:
Unrealized gain/(loss) on marketable securities	492	40	871	4,338
Foreign currency translation gain/(loss)	(1,298)	315	(2,530)	1,225
Total other comprehensive income/(loss), net of tax	(806)	355	(1,659)	5,563
Comprehensive income/(loss)	$ 30,954	$ 58,067	$ 22,984	$ 112,404
Earnings per share:
Basic	$ 0.23	$ 0.57	$ 0.18	$ 1.06
Diluted	$ 0.23	$ 0.57	$ 0.18	$ 1.05
Weighted average shares outstanding:
Basic	135,195	100,373	135,276	100,326
Diluted	136,979	101,782	136,836	101,989

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS (Narrative) (Details) $ / shares in Units, $ in Thousands		3 Months Ended						6 Months Ended
	Sep. 01, 2023 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) item $ / shares	Mar. 31, 2024 USD ($) item	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($) item	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) $ / shares
Business Acquisition [Line Items]
Research and development		$ 37,698		$ 21,347				$ 94,966	$ 42,429
Contingent consideration liability		121,332						121,332		$ 139,358
Goodwill		1,454,117				$ 197,471		1,454,117		$ 1,434,540
Acquisition related costs		$ 13,734		$ 5,707				$ 16,152	$ 7,068
Customer Relationships & Other Intangibles [Member]
Business Acquisition [Line Items]
Weighted average amortization period		10 years 7 months 6 days						10 years 7 months 6 days		10 years 7 months 6 days
Developed Technology [Member]
Business Acquisition [Line Items]
Weighted average amortization period		8 years						8 years		8 years
Fibriant B.V. [Member]
Business Acquisition [Line Items]
Research and development			$ 12,600
Contingent consideration payment			12,000
Asset Acquisition, Consideration Transferred			12,000
Achievement Of Certain Performance Obligation [Member] \| Fibriant B.V. [Member]
Business Acquisition [Line Items]
Additional contingent consideration			$ 10,000
Harvest Biologics, LLC [Member]
Business Acquisition [Line Items]
Purchase price, preliminary post-closing adjustments						$ 1,400
Purchase price allocation finalization period						1 year
Inventory acquired						$ 3,300
Business combination, consideration transferred						30,000
Goodwill						15,200
Harvest Biologics, LLC [Member] \| Customer Relationships & Other Intangibles [Member]
Business Acquisition [Line Items]
Intangible assets acquired						$ 10,500
Weighted average amortization period						20 years
Harvest Biologics, LLC [Member] \| Developed Technology [Member]
Business Acquisition [Line Items]
Intangible assets acquired						$ 2,400
Weighted average amortization period						8 years
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of acquisitions \| item			1		1		1
Identifiable Assets					$ 400
Inventory acquired					1,000
Goodwill			$ 17,900
Payments to Acquire Businesses, Gross					$ 1,400
Business combination, consideration transferred							$ 200
Contingent payments, performance period							10 years
Goodwill							$ 4,600
Contingent consideration payment			19,100				$ 4,400
Fair value adjustments to inventory			$ 1,800
One Acquisition [Member]
Business Acquisition [Line Items]
Number of acquisitions \| item		1
Payments to Acquire Businesses, Gross		$ 100
Contingent consideration liability		$ 1,900						$ 1,900
Contingent payments, performance period		5 years
Goodwill		$ 2,000						$ 2,000
Two Acquisitions [Member]
Business Acquisition [Line Items]
Weighted average amortization period			10 years
Payments to Acquire Businesses, Gross			$ 500
NuVasive Merger Agreement [Member]
Business Acquisition [Line Items]
Common Stock, Par or Stated Value Per Share \| $ / shares		$ 0.001						$ 0.001
NuVasive [Member]
Business Acquisition [Line Items]
Future services amount, not yet expensed								$ 29,400
Acquisition related costs recognized								13,600
Inventory acquired	$ 570,300	$ 558,034						558,034
Payments to Acquire Businesses, Gross	2,603,836							2,603,836
Business combination, consideration transferred	2,603,836
Goodwill	924,155	$ 1,235,588						1,235,588
Acquisition related costs								12,900
Repaid debt outstanding	420,762							420,800
Fair value of assumed equity awards	$ 28,635							28,600
Awards vested post acquisition								$ 42,300
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.001
Convertible Debt [Member]
Business Acquisition [Line Items]
Stated interest rate	0.375%	0.375%						0.375%		0.375%
Common Class A [Member]
Business Acquisition [Line Items]
Common Stock, Par or Stated Value Per Share \| $ / shares		$ 0.001						$ 0.001		$ 0.001
Conversion of Stock, Shares Converted \| shares								1
Common Class A [Member] \| NuVasive Merger Agreement [Member]
Business Acquisition [Line Items]
Conversion of Stock, Shares Converted \| shares	0.75							0.75

ACCRUED EXPENSES (Schedule of Accrued Expenses) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
ACCRUED EXPENSES [Abstract]
Compensation and other employee-related costs	$ 114,558	$ 140,817
Legal and other settlements and expenses	4,342	9,335
Accrued non-income taxes	27,449	23,726
Royalties	10,271	10,130
Rebates	32,723	27,605
Other	26,542	28,847
Total accrued expenses	$ 215,885	$ 240,460

FAIR VALUE MEASUREMENTS (Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 243,685		$ 203,689
Senior Convertible Notes due 2025	432,159		417,363
Bifurcated Conversion Option of the Senior Convertible Notes due 2025	471		687
Business acquisition liabilities	121,332		139,358
Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	13,841		18,057
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	52,748		58,838
Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	12,676		17,161
Government, Federal Agency, And Other Sovereign Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	31,039		31,869
2025 Hedge [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	471		687
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	243,685		203,689
Senior Convertible Notes due 2025	432,159		417,363
Fair Value, Inputs, Level 1 [Member] \| Government, Federal Agency, And Other Sovereign Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities			2,928
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bifurcated Conversion Option of the Senior Convertible Notes due 2025	471		687
Fair Value, Inputs, Level 2 [Member] \| Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	13,841		18,057
Fair Value, Inputs, Level 2 [Member] \| Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	52,748		58,838
Fair Value, Inputs, Level 2 [Member] \| Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	12,676		17,161
Fair Value, Inputs, Level 2 [Member] \| Government, Federal Agency, And Other Sovereign Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	31,039		28,941
Fair Value, Inputs, Level 2 [Member] \| 2025 Hedge [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	471		687
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business acquisition liabilities	$ 121,332	$ 111,310	$ 139,358	$ 65,352	$ 64,882	$ 68,258

MARKETABLE SECURITIES (Narrative) (Details)	6 Months Ended	12 Months Ended
MARKETABLE SECURITIES (Narrative) (Details)	Jun. 30, 2024	Dec. 31, 2023
Short-term Investments [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year
Long-term Investments [Member] \| Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Long-term Investments [Member] \| Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	3 years	3 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

STOCK-BASED AWARDS (Summary of Restricted Stock Unit Activity) (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning Balance \| shares	820
Granted \| shares	10
Vested \| shares	(304)
Forfeited \| shares	(47)
Outstanding, Ending Balance \| shares	479
Weighted average grant date fair value per share, Beginning Balance \| $ / shares	$ 54.98
Weighted average grant date fair value per share, Granted \| $ / shares	52.96
Weighted average grant date fair value per share, Vested \| $ / shares	54.10
Weighted average grant date fair value per share, Forfeited \| $ / shares	54.10
Weighted average grant date fair value per share, Ending Balance \| $ / shares	$ 55.58
Weighted average remaining contractual life (years)	2 years 6 months 25 days