0001420800-23-000008 | 10-K | XBRL Viewer

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Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2022	Feb. 24, 2023	Jul. 01, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-34045
Entity Registrant Name	ENOVIS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1887631
Entity Address, Address Line One	2711 Centerville Road,
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Wilmington,
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19808
City Area Code	302
Local Phone Number	252-9160
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	ENOV
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 2,683
Entity Common Stock Shares Outstanding		54,325,215
Entity Central Index Key	0001420800
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Philadelphia, Pennsylvania
Auditor Firm ID	42

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net sales	$ 1,563,101	$ 1,426,188	$ 1,120,700
Cost of sales	693,718	648,513	517,060
Gross profit	869,383	777,675	603,640
Selling, general and administrative expense	772,913	665,775	515,467
Research and development expense	60,827	49,094	34,268
Amortization of acquired intangibles	126,301	116,920	103,306
Insurance settlement gain	(36,705)	0	0
Restructuring and other charges	17,225	8,685	16,781
Operating loss	(71,178)	(62,799)	(66,182)
Interest expense, net	24,052	29,112	52,824
Debt extinguishment charges	20,396	29,870	0
Gain on investment in ESAB Corporation	(102,669)	0	0
Gain on cost basis investment	(8,800)	0	0
Other income	(2,088)
Loss from continuing operations before income taxes	(2,069)	(121,781)	(119,006)
Income tax expense (benefit)	36,120	(19,528)	(44,579)
Net loss from continuing operations	(38,189)	(102,253)	(74,427)
Income from discontinued operations, net of taxes	26,430	178,531	120,198
Net income (loss)	(11,759)	76,278	45,771
Less: net income attributable to noncontrolling interest from continuing operations - net of taxes	567	1,052	692
Less: net income attributable to noncontrolling interest from discontinued operations - net of taxes	966	3,569	2,454
Net income (loss) attributable to Enovis Corporation	$ (13,292)	$ 71,657	$ 42,625
Net income (loss) per share - basic and diluted
Continuing operations	$ (0.72)	$ (2.02)	$ (1.65)
Discontinued operations	0.47	3.42	2.58
Consolidated operations	(0.25)	1.40	0.93
Net income (loss) per share - diluted
Continuing operations	(0.72)	(2.02)	(1.65)
Discontinued operations	0.47	3.42	2.58
Consolidated operations	$ (0.25)	$ 1.40	$ 0.93

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (11,759)	$ 76,278	$ 45,771
Other comprehensive income (loss):
Foreign currency translation, net of tax expense (benefit) of $338, $3,449 and $(25)	(61,378)	(114,389)	59,880
Unrealized gain (loss) on hedging activities, net of tax expense (benefit) of $2,711, $6,980 and $(9,120)	9,028	23,247	(26,268)
Changes in unrecognized pension and other post-retirement benefit (cost), net of tax expense (benefit) of $2,333, $3,368 and $(1,502)	12,207	20,870	(8,169)
Amounts reclassified from Accumulated other comprehensive loss:
Amortization of pension and other post-retirement net actuarial gain, net of tax expense of $199, $1,148 and $883	629	5,025	3,735
Other comprehensive income (loss)	(39,514)	(65,247)	29,178
Comprehensive income (loss)	(51,273)	11,031	74,949
Less: comprehensive income (loss) attributable to noncontrolling interest	(583)	3,281	585
Comprehensive income (loss) attributable to Enovis Corporation	$ (50,690)	$ 7,750	$ 74,364

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME [Parenthetical] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax	$ 338	$ 3,449	$ (25)
Unrealized gain (loss), on hedging activities, tax	2,711	6,980	(9,120)
Changes in unrecognized pension and other post-retirement benefit (cost), tax expense (benefit)	2,333	3,368	(1,502)
Amortization of pension and other post-retirement net actuarial gain, tax expense	$ 199	$ 1,148	$ 883

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 24,295	$ 680,252
Trade receivables, less allowance for credit losses of $7,965 and $6,589	267,380	254,958
Inventories, net	426,643	356,233
Prepaid expenses	28,550	26,046
Other current assets	48,155	29,176
Total current assets associated with discontinued operations	0	956,614
Total current assets	795,023	2,303,279
Property, plant and equipment, net	236,741	235,113
Goodwill	1,983,588	1,934,258
Intangible assets, net	1,110,727	1,154,028
Lease asset - right of use	66,881	76,485
Other assets	80,288	74,700
Total non-current assets associated with discontinued operations	0	2,738,049
Total assets	4,273,248	8,515,912
CURRENT LIABILITIES:
Current portion of long-term debt	219,279	7,701
Accounts payable	135,628	155,208
Accrued liabilities	210,292	225,391
Total current liabilities associated with discontinued operations	0	635,284
Total current liabilities	565,199	1,023,584
Long-term debt, less current portion	40,000	2,078,625
Non-current lease liability	51,259	56,549
Other liabilities	166,989	122,159
Total non-current liabilities associated with discontinued operations	0	573,562
Total liabilities	823,447	3,854,479
Equity:
Common stock, $0.001 par value; 133,333,333 shares authorized; 54,228,619 and 52,083,078 issued and outstanding as of December 31, 2022 and December 31, 2021, respectively	54	52
Additional paid-in capital	2,925,729	4,544,315
Retained earnings	575,732	589,024
Accumulated other comprehensive loss	(53,430)	(516,013)
Total Enovis Corporation equity	3,448,085	4,617,378
Noncontrolling interest	1,716	44,055
Total equity	3,449,801	4,661,433
Total liabilities and equity	$ 4,273,248	$ 8,515,912

CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheet (Parenthetical) [Abstract]
Trade receivables, allowance for doubtful accounts	$ 7,965	$ 6,589
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	133,333,333	133,333,333
Common stock, shares issued (in shares)	54,228,619	52,083,078
Common stock, shares outstanding (in shares)	54,228,619	52,083,078

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2019			39,353,027
Beginning balance at Dec. 31, 2019	$ 3,489,628	$ (4,818)	$ 40	$ 3,445,675	$ 479,560	$ (4,818)	$ (483,845)	$ 48,198
Net income (loss)	45,771				42,625			3,146
Distributions to noncontrolling owners	(4,296)							(4,296)
Other comprehensive (loss) income	29,178						31,739	(2,561)
Common stock-based award activity (in shares)			145,869
Common stock-based award activity	32,411			32,411
Ending balance (in shares) at Dec. 31, 2020			39,498,896
Ending balance at Dec. 31, 2020	3,587,874		$ 40	3,478,086	517,367		(452,106)	44,487
Net income (loss)	76,278				71,657			4,621
Distributions to noncontrolling owners	(3,713)							(3,713)
Other comprehensive (loss) income	(65,247)						(63,907)	(1,340)
Common stock offering, net of issuance costs (in shares)			5,366,667
Common stock offering, net of issuance costs	711,339		$ 5	711,334
Conversion of tangible equity units into common stock (in shares)			4,441,488
Conversion of tangible equity units into common stock	0		$ 4	(4)
Common stock issued for acquisition, net of issuance costs (in shares)			2,181,507
Common stock issued for acquisition, net of issuance costs	285,680		$ 2	285,678
Common stock-based award activity (in shares)			594,520
Common stock-based award activity	69,222		$ 1	69,221
Ending balance (in shares) at Dec. 31, 2021			52,083,078
Ending balance at Dec. 31, 2021	4,661,433		$ 52	4,544,315	589,024		(516,013)	44,055
Net income (loss)	(11,759)				(13,292)			1,533
Distributions to noncontrolling owners	(1,591)							(1,591)
Other comprehensive (loss) income	(39,514)						(37,398)	(2,116)
Distribution of ESAB Corporation	(1,203,324)			(1,662,795)			499,981	(40,510)
Conversion of tangible equity units into common stock (in shares)			1,691,845
Conversion of tangible equity units into common stock	0		$ 2	(2)
Acquisition	345							345
Common stock-based award activity (in shares)			453,696
Common stock-based award activity	44,211			44,211
Ending balance (in shares) at Dec. 31, 2022			54,228,619
Ending balance at Dec. 31, 2022	$ 3,449,801		$ 54	$ 2,925,729	$ 575,732		$ (53,430)	$ 1,716

CONSOLIDATED STATEMENTS OF EQUITY [Parenthetical] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2019
Other comprehensive income, tax	$ 5,581	$ 14,945	$ 9,764

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32672-109319

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
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-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

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-URI http://asc.fasb.org/extlink&oid=124509347&loc=d3e640-108580

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+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ (11,759)	$ 76,278	$ 45,771
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation, amortization and other impairment charges	219,710	262,919	246,229
Stock-based compensation expense	38,955	35,350	28,911
Non-cash interest expense	3,921	4,752	5,739
Gain on investment in ESAB Corporation	(102,669)	0	0
Gain on cost basis investment	(8,800)	0	0
Debt extinguishment charges	20,396	29,870	0
Deferred income tax expense (benefit)	6,320	(22,188)	(29,218)
(Gain) loss on sale of property, plant and equipment	352	(2,573)	(491)
Pension settlement gain	0	(11,208)	0
Changes in operating assets and liabilities:
Trade receivables, net	(45,189)	(110,985)	42,688
Inventories, net	(118,791)	(129,967)	23,787
Accounts payable	(11,843)	178,467	(30,747)
Other operating assets and liabilities	(46,464)	45,384	(30,734)
Net cash (used in) provided by operating activities	(55,861)	356,099	301,935
Cash flows from investing activities:
Purchases of property, plant and equipment and intangibles	(105,450)	(104,237)	(114,785)
Proceeds from sale of property, plant and equipment	2,746	7,033	9,552
Acquisitions, net of cash received, and investments	(73,684)	(223,272)	(69,846)
Net cash used in investing activities	(176,388)	(320,476)	(175,079)
Cash flows from financing activities:
Proceeds from borrowings on term credit facility	450,000	0	0
Payments under term credit facility	(785,000)	0	(40,000)
Proceeds from borrowings on revolving credit facilities and other	65,000	991,494	860,681
Repayments of borrowings on revolving credit facilities and other	(634,883)	(417,526)	(938,997)
Repayment of senior debt	300,000	700,000	0
Repayments of borrowings on Euro senior notes	(386,278)	0	0
Distribution from ESAB Corporation, net	1,143,369	0	0
Payment of debt issuance costs	(2,938)	0	(4,560)
Proceeds from issuance of common stock, net	5,814	745,179	3,500
Payment of debt extinguishment costs	(12,704)	(24,375)	0
Deferred consideration payments and other	(7,507)	(9,866)	(12,275)
Net cash (used in) provided by financing activities	(465,127)	584,906	(131,651)
Effect of foreign exchange rates on Cash and cash equivalents and Restricted Cash	2,301	(2,228)	(3,768)
(Decrease) increase in Cash and cash equivalents and Restricted cash	(695,075)	618,301	(8,563)
Cash and cash equivalents and Restricted Cash, beginning of period	719,370	101,069	109,632
Cash and cash equivalents, end of period	24,295	719,370	101,069
Supplemental disclosures:
Interest payments	37,089	85,487	104,620
Income tax payments, net	31,360	47,188	59,377
Common stock issued for acquisition, net of issuance costs	0	285,680	0
ESAB Corporation shares exchanged for debt, net of fees	$ 230,532	$ 0	$ 0

Organization and Nature of Operations	12 Months Ended
Organization and Nature of Operations	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations Enovis Corporation (the “Company” or “Enovis”) was previously Colfax Corporation (“Colfax”) until its separation into two differentiated, independent, and publicly traded companies on April 4, 2022. Colfax was a leading diversified technology company that provided fabrication technology and medical device products and services to customers around the world, principally under the ESAB and DJO brands. Following the completion of the Separation, the Company revised its reporting structure and conducts its business through two operating segments, “Prevention & Recovery” and “Reconstructive”. The segment results were retroactively restated to the current method the Company conducts its business for all years presented. On April 4, 2022, the Company completed the separation of its fabrication technology business (the “Separation”) through a tax free, pro-rata distribution of 90% of the outstanding common stock of ESAB Corporation (“ESAB”) to Colfax stockholders. To affect the Separation, Colfax distributed to its stockholders one share of ESAB common stock for every three shares of Colfax common stock held at the close of business on March 22, 2022, with the Company initially retaining 10% of the shares of ESAB common stock immediately following the Separation. Upon completion of the Separation, Colfax, which retained the Company’s specialty medical technology business, changed its name to Enovis Corporation. On April 5, 2022, the Company began trading under the stock symbol “ENOV” on the New York Stock Exchange. In connection with the Separation, ESAB issued $1.2 billion of new debt securities, the proceeds from which were used to fund a $1.2 billion cash distribution to Enovis upon Separation. The distribution proceeds were used by Enovis in conjunction with $450 million of borrowings on a term loan under the new Enovis Credit Agreement, as discussed below, and $52.3 million of cash on hand to repay $1.4 billion of outstanding debt and accrued interest on the Company’s prior credit facility, and $302.8 million of outstanding debt and accrued interest on its 2026 Notes, pay a redemption premium at 103.188% of the principal amount of the 2026 Notes, and pay other fees and expenses due at closing. Additionally, on April 7, 2022, the Company also completed the redemption of its Euro Senior Notes representing all of its outstanding €350 million principal 3.250% Senior Notes due 2025 at a redemption price of 100.813% of the principal amount. Immediately following the Separation, the Company effected a one-for-three reverse stock split of all issued and outstanding shares of Enovis common stock. As a result of the reverse stock split, all share and per share figures contained in the accompanying Consolidated Financial Statements have been retroactively restated as if the reverse stock split occurred at the beginning of the periods presented. The Company completed the divestiture of its 10% retained shares in ESAB in a tax-efficient exchange for $230.5 million of its $450 million term loan outstanding under the Credit Agreement on November 18, 2022. The accompanying Consolidated Financial Statements present our historical financial position, results of operations, changes in equity and cash flows in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain reclassifications have been made to prior year financial information to conform to the current period presentation. Unless otherwise indicated, all amounts in the notes to the consolidated financial statements refer to continuing operations. The accompanying Consolidated Financial Statements reflect the results of (1) ESAB, the Company’s former fabrication technology business; (2) charges, assets and liabilities for previously retained asbestos contingencies; and (3) divestiture-related expenses associated with our former Air and Gas Handling business (“Air & Gas”) that was sold in 2019 as a discontinued operation for all periods presented. See Note 4, “Discontinued Operations”, for further information. The COVID-19 pandemic, its resulting impact on governments, businesses and individuals, and actions taken by them in response to the situation resulted in widespread economic disruptions, which significantly affected broader economies, financial markets, and overall demand for the Company’s products in fiscal year 2020. Other than a surge of COVID-19 cases due to the emergence of COVID-19 variants in the third quarter of 2021, the impacts lessened in 2021 and 2022 due to broadening access to COVID-19 vaccines and gradual relaxing of some government-mandated restrictions. Sales in our Prevention & Recovery and Reconstructive segments typically peak in the fourth quarter. These historical seasonality trends were disrupted by the commercial impacts caused by the COVID-19 pandemic. General economic conditions may, however, impact future seasonal variations.

Summary of Significant Accounting Policies Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation The Company’s Consolidated Financial Statements are prepared in accordance with GAAP and include all majority-owned subsidiaries over which the Company exercises control and, when applicable, entities or joint ventures for which the Company has a controlling financial interest or is the primary beneficiary. When protective rights, substantive rights or other factors exist, further analysis is performed in order to determine whether or not there is a controlling financial interest. The Consolidated Financial Statements reflect the assets, liabilities, revenues and expenses of consolidated subsidiaries and the noncontrolling parties’ ownership share is presented as a noncontrolling interest. All significant intercompany accounts and transactions have been eliminated. Investments Investments where the Company has a significant influence but not a controlling interest, are accounted for using the equity method of accounting. Investments accounted for under the equity method are initially recorded at the amount of the Company’s initial investment and adjusted each period for the Company’s share of the investee’s income or loss and dividends paid. The Company accounts for equity investments that do not have a readily determinable fair value as cost method investments under the measurement alternative under GAAP to the extent such investments are not subject to consolidation or the equity method of accounting as described above. Under the measurement alternative, these financial instruments are carried at cost, less any impairment, adjusted for changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. The Company accounts for investments as a noncurrent asset within Other assets in the Consolidated Financial Statements as the Company does not have the intent and ability to sell such assets within the next twelve months. All equity investments are reviewed periodically for indications of other-than-temporary impairment, including, but not limited to, significant and sustained decreases in quoted market prices or a series of historic and projected operating losses by investees. If the decline in fair value is considered to be other-than-temporary, an impairment loss is recorded and the investment is written down to a new carrying value. As of December 31, 2022, the Company held investments of $16.5 million in privately held companies, the majority of which are within the Prevention & Recovery operating segment. These investments represent minority ownership interests and are accounted for under the cost method as the Company does not have significant influence over the investees. The largest of the Company’s investments consist of a $10.0 million investment in HT Bioimaging Ltd., a company that has developed a non-invasive cancer scanning technology for veterinarians. Revenue Recognition The Company provides a variety of products to its customers with revenue being measured as the amount of consideration we expect to receive in exchange for transferring such products. Revenue is recognized at a point in time when we transfer control of our off-the-shelf products to the customer, which generally occurs when title passes upon shipment. The Company’s contracts have a single performance obligation as the promise to transfer the individual goods is not separately identifiable from other promises in the contract and, therefore, not distinct. Revenue recognition and billing typically occur simultaneously for contracts recognized at a point in time. Therefore, we do not have material revenues in excess of customer billings or billings to customers in excess of recognized revenues. Refer to Note 6, “Revenue”, and Note 15, “Accrued Liabilities”, for additional information on the Company’s contract liability balances. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for transferring the goods or services. The nature of the Company’s contracts gives rise to certain types of variable consideration, including rebates and other discounts. The Company includes estimated amounts of variable consideration in the transaction price to the extent that it is probable there will not be a significant reversal of revenue. Estimates are based on historical or anticipated performance and represent the Company’s best judgment at the time. Any estimates are evaluated on a quarterly basis until the uncertainty is resolved. Additionally, the Company maintains provisions for estimated contractual allowances for reimbursement amounts from certain third-party payors based on negotiated contracts, historical experience for non-contracted payors, and the impact of new contract terms or modifications of existing arrangements with these customers. These allowances are recorded as a reduction to sales in the same period that the sales are recognized. The period of benefit for the Company’s incremental costs of obtaining a contract generally have less than a one-year duration; therefore, the Company applies the practical expedient available and expenses costs to obtain a contract when incurred. Taxes Collected from Customers and Remitted to Governmental Authorities The Company collects various taxes and fees as an agent in connection with the sale of products and remits these amounts to the respective taxing authorities. These taxes and fees have been presented on a net basis in the Consolidated Statements of Operations and are recorded as a component of Accrued liabilities in the Consolidated Balance Sheets until remitted to the respective taxing authority. Research and Development Expense Research and development costs are expensed as incurred. Costs include salaries, wages, consulting and depreciation and maintenance of facilities and equipment utilized in research, development and engineering activities relating to developing new products, as well as enhancing existing products with the latest technology and designs, creating new applications for existing products, lowering manufacturing costs and redesigning existing products to increase efficiency, improve durability, enhance performance and usability. The Company also receives new product and invention ideas from orthopedic surgeons and other healthcare professionals and seeks to obtain rights to ideas it considers promising from a clinical and commercial perspective through entering into either assignment or licensing agreements. The Company maintains contractual relationships with orthopedic surgeons who assists in developing products and may also provide consulting services in connection with our products. Interest Expense, Net Interest expense, net includes interest income of $0.2 million, $0.2 million and $0.3 million for the years ended December 31, 2022, 2021 and 2020, respectively, primarily associated with interest-bearing deposits of certain foreign subsidiaries. Cash and Cash Equivalents Cash and cash equivalents include all financial instruments purchased with an initial maturity of three months or less. Trade Receivables Trade receivables are presented net of an allowance for credit losses. The Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments as of January 1, 2020. The estimate of current expected credit losses on trade receivables considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Estimated credit losses are reviewed periodically by management. Inventories Inventories, net include the cost of material, labor and overhead and are stated at the lower of cost or net realizable value. Cost is determined under various methods including average cost and first-in, first-out. The Company periodically reviews its quantities of inventories on hand and compares these amounts to the expected usage of each particular product. The Company records a charge to Cost of sales for any amounts required to reduce the carrying value of inventories to its net realizable value. Property, Plant and Equipment Property, plant and equipment, net is stated at historical cost, which includes the fair values of such assets acquired through acquisitions, and depreciated by the straight-line method over the estimated useful lives of the related assets. Repair and maintenance expenditures are expensed as incurred unless the repair extends the useful life of the asset. The Company capitalizes surgical implant instruments that are provided free-of-charge to surgeons for use while implanting its surgical products and the related depreciation expense is recorded as a component of Selling, general and administrative expense. Impairment of Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the costs in excess of the fair value of net assets acquired through acquisitions by the Company. The Company evaluates the recoverability of Goodwill annually or more frequently if an event occurs or circumstances change in the interim that would more likely than not reduce the fair value of the asset below its carrying amount. The annual impairment test date elected by the Company is the first day of its fourth quarter. Goodwill is considered to be impaired when the carrying value of a reporting unit or asset exceeds its fair value. The Company currently has two reporting units: Prevention & Recovery and Reconstructive. In the evaluation of Goodwill for impairment, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting entity is less than its carrying value. If the Company determines that it is more likely than not for a reporting unit’s fair value to be greater than its carrying value, a calculation of the fair value is not performed. If the Company determines that it is more likely than not for a reporting unit’s fair value to be less than its carrying value, a calculation of the reporting entity’s fair value is performed and compared to the carrying value of that entity. In certain instances, the Company may elect to forgo the qualitative assessment and proceed directly to the quantitative impairment test. If the carrying value of a reporting unit exceeds its fair value, Goodwill of that reporting unit is impaired and an impairment loss is recorded equal to the excess of the reporting unit’s carrying value over its fair value. When a quantitative impairment test is needed, the Company measures fair value of reporting units based on a present value of future discounted cash flows and a market valuation approach. The discounted cash flow models indicate the fair value of the reporting units based on the present value of the cash flows that the reporting units are expected to generate in the future. Significant estimates in the discounted cash flow models include the weighted average cost of capital, revenue growth rates, long-term rate of growth, profitability of the business, tax rates, and working capital effects. The market valuation approach indicates the fair value of the business based on a comparison against certain market information. Significant estimates in the market approach model include identifying appropriate peer companies, market multiples and assessing earnings before interest, income taxes, depreciation and amortization. For the year ended December 31, 2022, the Company performed a quantitative assessment of Goodwill for the Reconstructive and Prevention & Recovery reporting units, both of which indicated no impairment existed. The carrying amount of Goodwill of the Reconstructive and Prevention & Recovery reporting units for the year ended December 31, 2022 was $0.9 billion and $1.1 billion, respectively. The Company determined the fair value of the reporting units by equally weighting a discounted cash flow approach and market valuation approach, and the reporting unit’s fair value exceeded its carrying amount by approximately 8% and 9%, respectively. Determining the fair value of a reporting unit requires the application of judgment and involves the use of significant estimates and assumptions which can be affected by changes in business climate, economic conditions, the competitive environment and other factors. The Company bases these fair value estimates on assumptions the Company’s management believes to be reasonable but which are unpredictable and inherently uncertain. Future changes in the judgment, assumptions and estimates could result in significantly different estimates of fair value in the future. An increase in discount rates, a reduction in projected cash flows or a combination of the two could lead to a reduction in the estimated fair values, which may result in impairment charges that could materially affect the Company’s financial statements in any given year. For sensitivity analysis, the Company estimated the fair value of the Prevention & Recovery and Reconstructive reporting units if the Company reduced the long-term revenue growth rate by 25 basis points, and the resulting excess fair value over carrying value decreased by 120 and 130 basis points, respectively. Upon the Separation and the revision of the Company’s operating segments, the Company evaluated and concluded that it has two reporting units, Prevention & Recovery and Reconstructive. An allocation of goodwill was performed to the new reporting units. A quantitative impairment test of Goodwill for the Prevention & Recovery and Reconstructive reporting units was performed for the years ended December 31, 2022, which indicated no impairment existed. Impairment of Long-Lived Assets Other than Goodwill and Indefinite-Lived Intangible Assets Intangible assets primarily represent acquired trade names, customer relationships, acquired technology and software license agreements. Intangible assets are being amortized on a straight-line basis over their estimated useful lives, which approximates the period of benefit, and ranges from three to twenty years. The Company assesses its long-lived assets and finite-lived intangible assets for impairment whenever facts and circumstances indicate that the carrying amounts may not be fully recoverable. To analyze recoverability, the Company projects undiscounted net future cash flows over the remaining lives of such assets. If these projected cash flows are less than the carrying amounts, an impairment loss equal to the difference between the carrying amount of the asset and its fair value would be recognized, resulting in a write-down of the assets with a corresponding charge to earnings. Assets held for sale are reported at the lower of the carrying amounts or fair value less cost to sell. Management determines fair value using the discounted cash flow method or other accepted valuation techniques. The Company did not record any asset impairment charges during the years ended December 31, 2022 and 2021. The Company recorded an asset impairment loss related to a facility closure totaling $1.6 million during the year ended December 31, 2020, as a component of Restructuring and other charges in the Consolidated Statements of Operations. Derivatives The Company is subject to foreign currency risk associated with the translation of the net assets of foreign subsidiaries to United States (“U.S.”) dollars on a periodic basis. Derivative instruments are generally recognized on a gross basis in the Consolidated Balance Sheets in either Other current assets, Other assets, Accrued liabilities or Other liabilities depending upon their respective fair values and maturity dates. For all instruments designated as hedges, including net investment hedges and cash flow hedges, the Company formally documents the relationship between the hedging instrument and the hedged item, as well as the risk management objective and the strategy for using the hedging instrument. The Company assesses whether the relationship between the hedging instrument and the hedged item is highly effective at offsetting changes in the fair value both at inception of the hedging relationship and on an ongoing basis. For cash flow hedges and net investment hedges, unrealized gains and losses are recognized as a component of Accumulated other comprehensive loss in the Consolidated Balance Sheets to the extent that it is effective at offsetting the change in the fair value of the hedged item and realized gains and losses are recognized in the Consolidated Statements of Operations consistent with the underlying hedged instrument. The Company does not enter into derivative contracts for speculative purposes. See Note 17, “Financial Instruments and Fair Value Measurements” for additional information regarding the Company’s derivative instruments. Income Taxes Income taxes for the Company are accounted for under the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities in the Consolidated Financial Statements and their respective tax basis. Deferred income tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred income tax assets and liabilities are reported in Other assets and Other liabilities in the Company’s Consolidated Balance Sheets, respectively. The effect on deferred income tax assets and liabilities of a change in tax rates is generally recognized in Income tax expense (benefit) in the period that includes the enactment date. Global Intangible Low-Taxed Income (“GILTI”) is accounted for as a current tax expense in the year the tax is incurred. Valuation allowances are recorded if it is more likely than not that some portion of the deferred income tax assets will not be realized. In evaluating the need for a valuation allowance, the Company considers various factors, including the expected level of future taxable income and available tax planning strategies. Any changes in judgment about the valuation allowance are recorded through Income tax expense (benefit) and are based on changes in facts and circumstances regarding realizability of deferred tax assets. The Company must presume that an income tax position taken in a tax return will be examined by the relevant tax authority and determine whether it is more likely than not that the tax position will be sustained upon examination based upon the technical merits of the position. An income tax position that meets the more-likely-than-not recognition threshold is measured to determine the amount of benefit to recognize in the financial statements. The Company establishes a liability for unrecognized income tax benefits for income tax positions for which it is more likely than not that a tax position will not be sustained upon examination by the respective taxing authority to the extent such tax positions reduce the Company’s income tax liability. The Company recognizes interest and penalties related to unrecognized income tax benefits in Income tax expense (benefit) in the Consolidated Statements of Operations. Foreign Currency Exchange Gains and Losses The Company’s financial statements are presented in U.S. dollars. The functional currencies of the Company’s operating subsidiaries are generally the local currencies of the countries in which each subsidiary is located. Assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the balance sheet date. The amounts recorded in each year in foreign currency translation are net of income taxes to the extent the underlying equity balances in the entities are not deemed to be permanently reinvested. Revenues and expenses are translated at average rates of exchange in effect during the year. Transactions in foreign currencies are translated at the exchange rate in effect at the date of each transaction. Differences in exchange rates during the period between the date a transaction denominated in a foreign currency is consummated and the date on which it is either settled or translated for inclusion in the Consolidated Balance Sheets are recognized in Selling, general and administrative expense or Interest expense, net in the Consolidated Statements of Operations for that period. During the year ended December 31, 2022, the Company recognized net foreign currency transaction gain of $0.7 million in Interest expense, net and net foreign currency transaction loss of $0.6 million in Selling, general and administrative expense in the Consolidated Statements of Operations. During the year ended December 31, 2021, the Company recognized net foreign currency transaction loss of $0.5 million in Interest expense, net and net foreign currency transaction loss of $2.0 million in Selling, general and administrative expense in the Consolidated Statements of Operations. During the year ended December 31, 2020, the Company recognized net foreign currency transaction gain of $1.1 million in Interest expense, net and net foreign currency transaction loss of $1.6 million in Selling, general and administrative expense in the Consolidated Statements of Operations. Debt Issuance Costs and Debt Discount Costs directly related to the placement of debt are capitalized and amortized to Interest expense primarily using the effective interest method over the term of the related obligation. Further, the carrying value of debt is reduced by an original issue discount, which is accreted to Interest expense, net using the effective interest method over the term of the related obligation. As of December 31, 2022, $4.5 million and $0.2 million of deferred issuance costs were included in Other assets and as a reduction of Long-term debt, respectively. As of December 31, 2021, $5.2 million and $7.1 million of deferred issuance costs were included in Other assets and as a reduction of Long-term debt, respectively. See Note 13, “Debt” for additional discussion regarding the Company’s borrowing arrangements. Use of Estimates The Company makes certain estimates and assumptions in preparing its Consolidated Financial Statements in accordance with U.S. GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses for the period presented. Actual results may differ from those estimates. Reclassifications Certain prior period amounts have been reclassified to conform to current year presentations. The operating results of ESAB, which was separated on April 4, 2022, are presented as discontinued operations in the Consolidated Statement of Operations for all periods presented and the net assets of ESAB and the other entities that were part of the Separation, including asbestos contingencies, are presented as discontinued operations on the Consolidated Balance Sheet as of December 31, 2021. See Note 4, “Discontinued Operations” for further information. Amortization of acquired intangibles and Research and development expense are now separately presented on our Consolidated Statements of Operations; these amounts were previously included in Selling, general and administrative expense. Note 6, “Revenue” and Note 19, “Segment Information” have been further disaggregated to conform to current year presentation.

Recently Issued Accounting Pronouncements	12 Months Ended
Recently Issued Accounting Pronouncements	Dec. 31, 2022
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting PronouncementsThe Company evaluates the adoption impacts of recently issued accounting pronouncements as well as material updates to previous pronouncements on the Company’s Consolidated Financial Statements. There were no new material accounting standards adopted in 2022 that impacted the Company.

Discontinued Operations

12 Months Ended

Dec. 31, 2022

Discontinued Operations [Abstract]

Discontinued Operations

Separation of Fabrication Technology Business

On April 4, 2022, the Company completed the Separation of its fabrication technology business into an independent, publicly traded company: ESAB, a global organization that develops, manufactures and supplies consumable welding and cutting products and equipment, as well as gas control equipment. The spin-off was affected through a pro rata distribution of 90% of the 60,034,311 outstanding common shares of ESAB to Enovis stockholders of record at the close of business on March 22, 2022 (the “Record Date”). Enovis stockholders retained their Enovis shares and received one share of ESAB for every three shares of Enovis stock they owned on the Record Date. ESAB began “regular way” trading on the New York Stock Exchange on April 5, 2022 under the symbol “ESAB”. In connection with the Separation, the Company received a one-time tax-free cash distribution from ESAB of $1.2 billion.

In connection with the Separation, Enovis and ESAB entered into various agreements to effect the Separation and provide a framework for ESAB’s relationship with Enovis after the Separation. These agreements include a separation and distribution agreement, a stockholders’ and registration rights agreement, an employee matters agreement, a tax matters agreement, a transition services agreement, an ESAB Business Excellence System (“EBS”) license agreement, and an intellectual property matters agreement (the “Agreements”). These Agreements govern the Separation between Enovis and ESAB of the assets, employees, liabilities and obligations (including its investments, property and employee benefits and tax-related assets and liabilities) of Enovis and its subsidiaries attributable to periods prior to, at and after the Separation and will govern certain relationships between Enovis and ESAB after the Separation. The impact of services to be provided to ESAB and agreed upon charges as part of the Separation are not expected to be material to our consolidated financial statements.

Asbestos Contingencies

The Company retained certain asbestos-related contingencies and insurance coverages from its previously divested businesses for which it did not retain an interest in the ongoing operations except for the contingencies. The net costs and cash flows associated with these contingencies and coverages were reported by the Company as discontinued operations. In conjunction with the Separation, all asbestos-related contingencies and insurance coverages from its divested businesses were transferred fully to ESAB. The Company has classified asbestos-related charges through the date of Separation in its Condensed Consolidated Statements of Operations as part of Income from discontinued operations, net of taxes. Income from discontinued operations, net of taxes on the Statements of Operations for the years ended December 31, 2022, 2021 and 2020 include pre-tax charges from previously retained asbestos-related contingencies of $3.2 million, $15.6 million and $10.6 million, respectively. Subsequent to the Separation, the asbestos-related charges and asbestos assets and liabilities are no longer reflected in the Enovis financial statements.

Divestiture-related Expenses Related to our former Air and Gas Handling Business

The Company sold Air & Gas in 2019. Accordingly, the accompanying Consolidated Financial Statements for all periods presented reflect the pre-tax divestiture-related expenses related to Air & Gas of $1.7 million, $9.1 million and $9.0 million for the years ended December 31, 2022, 2021 and 2020, respectively, as discontinued operations.

Summary of Items Treated as Discontinued Operations

As a result of the Separation and prior sale of Air & Gas, the operating results of (1) ESAB, the Company’s former fabrication technology business, (2) charges related to the previously retained asbestos contingencies and (3) Air & Gas divestiture-related expenses have been presented as discontinued operations in the Consolidated Statements of Operations for all periods presented. Additionally, the Consolidated Balance Sheet as of December 31, 2021 presents the Assets and Liabilities of the fabrication technology business and asbestos contingencies as discontinued operations.

The carrying value of the assets and liabilities of the Company’s former fabrication technology business and asbestos contingencies amounts presented as discontinued operations as of December 31, 2021 was as follows:


	December 31, 2021
	(in thousands)
ASSETS
Cash and cash equivalents	$	39,118
Trade receivables, net	383,742
Inventories, net	420,062
Prepaid expenses	52,140
Other current assets	61,552
Total current assets	956,614
Property, plant and equipment, net	286,278

Goodwill	1,533,037
Other intangibles, net	521,434
Lease asset - right of use	107,944
Other assets	289,356
Total assets associated with discontinued operations(1)	$	3,694,663

LIABILITIES
Current portion of long-term debt	$	613
Accounts payable	348,965
Accrued liabilities	285,706
Total current liabilities	635,284
Long-term debt, less current portion	54
Non-current lease liability	88,777
Deferred tax liabilities	116,198
Other liabilities	368,533
Total liabilities associated with discontinued operations(1)	$	1,208,846

(1) Total assets and liabilities include asbestos-related contingencies and insurance coverages in connection to the sales of the Fluid Handling and Air & Gas businesses. See Asbestos Contingencies section above for more information.

The following table presents the financial results of the former fabrication technology business including all divestiture-related expenses incurred by the company and allocated interest expense; asbestos charges; divestiture-related expenses related to Air & Gas; and the combined income tax effect of those items for the years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
	2022		2021		2020
	(in thousands)
Net sales	$	647,911	$	2,428,115	$	1,950,069
Cost of sales	423,580		1,592,132		1,265,604
Selling, general and administrative expense	125,529		477,040		434,360
Restructuring and other charges	5,304		18,954		21,632
Asbestos charges	3,194		15,578		10,619
Divestiture-related expenses(1)	46,684		29,668		9,040
Operating income	43,620		294,743		208,814
Interest expense(2)	8,035		43,481		51,438
Pension settlement gain	—		(11,208)		—
Income from discontinued operations before income taxes	35,585		262,470		157,376
Income tax expense	9,155		83,939		37,178
Income from discontinued operations, net of taxes	$	26,430	$	178,531	$	120,198

(1) Divestiture-related expenses include $45.0 million and $20.6 million for the years ended December 31, 2022 and 2021, respectively, for the Separation.

(2) Interest expense was allocated to discontinued operations based on allocating $1.2 billion of corporate level debt to discontinued operations consistent with the dividend received from ESAB and the debt repaid at the time of the Separation.

Total income attributable to noncontrolling interest related to ESAB, net of taxes for the years ended December 31, 2022, 2021 and 2020, was $1.0 million, $3.6 million, and $2.5 million, respectively. These amounts are presented as net income attributable to noncontrolling interest from discontinued operations - net of taxes on the Consolidated Statements of Operations.

The following table presents further detail into the financial results of the former fabrication technology business:


	Year Ended December 31,
	2022	2021	2020
	(in thousands)
Depreciation	7,671	32,452	32,893
Amortization	9,012	41,954	41,798
Capital expenditures	5,903	35,584	40,138

Cash (used in) provided by operating activities related to discontinued operations for the years ended December 31, 2022, 2021 and 2020 was approximately $(27) million, $224 million, and $302 million, respectively. Cash used in investing activities related to discontinued operations for the years ended December 31, 2022, 2021 and 2020 was approximately $3 million, $35 million, and $35 million.

Acquisitions

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Acquisitions

Acquisitions and Investments

2022 Acquisitions

In 2022, the Company completed four asset acquisitions, two business acquisitions, and one investment, which is carried at cost as it does not have a readily determinable fair value. Two of these transactions were completed by the Company’s Reconstructive segment, and the other five transactions were completed by the Prevention & Recovery segment. The asset acquisitions broaden the Company’s product offering and distribution network. Aggregate purchase consideration for the four asset acquisitions was $22.3 million, of which $12.6 million was paid in cash and $9.6 million consists of deferred and contingent consideration. The investment was acquired for $10.0 million in cash consideration. Pro forma revenues of the aforementioned acquisitions in the year ended December 31, 2022, if the aforementioned acquisitions were part of the Company since January 1, 2022, were approximately 1% of Enovis consolidated revenues from continuing operations.

On May 6, 2022, the Company completed a business acquisition in its Reconstructive segment of KICo Knee Innovation Company Pty Limited and subsidiaries, an Australian private company doing business as 360 Med Care, by acquiring 100% of its equity interests. 360 Med Care is a medical device distributor that bundles certain computer-assisted surgery and patient experience enhancement programs to add value to its device supply arrangements with surgeons, hospitals, and insurers. The acquisition is accounted for under the acquisition method of accounting, and accordingly, the Condensed Consolidated Financial Statements include the financial position and results of operations from the acquisition date. The Company paid $14.3 million for the acquisition, net of cash received, and recorded estimated contingent consideration at fair value of $12.8 million related to expected results over future revenue targets. The Company has preliminarily allocated $16.3 million to Goodwill and $18.2 million to intangible assets acquired. Purchase accounting procedures are ongoing and revisions to contingent consideration, intangible assets acquired, and adjustments for working capital true-ups may be recorded in future periods during the measurement period. The 360 Med Care acquisition broadens our customer base in Australia and adds to our overall product offerings.

On July 5, 2022, the Reconstructive segment of the Company acquired a controlling interest of Insight Medical Systems (“Insight”). Insight’s flagship solution, ARVIS, is an FDA-cleared augmented reality solution precisely engineered for the specific needs of hip and knee replacement surgery. The ARVIS navigation unit consists of a hands-free heads-up display worn by the surgeon which provides surgical guidance at the point of care in a streamlined, space-conserving, and cost-effective manner compared to traditional robotic offerings. The acquisition is accounted for under the acquisition method of accounting as a step-acquisition, and accordingly, the Condensed Consolidated Financial Statements include the financial position and results of operations from the acquisition date.

Enovis made initial investments in Insight in 2020 and 2021, which were carried at cost. During the third quarter of 2022, the Company acquired an additional 53.7% interest in Insight for $34.2 million net of cash received, and recorded contingent consideration of $5.0 million, which is the maximum payable under the agreement based on Insight’s achievement of certain milestones related to ARVIS. As of December 31, 2022, Enovis holds a 99.5% interest in Insight and recognized $0.3 million noncontrolling equity interest in its financial statements attributed to Insight.

The Company has preliminarily allocated $36.3 million to Goodwill and $38.4 million to intangible assets acquired. Goodwill is primarily driven by expected synergies between ARVIS’ augmented reality surgical guidance system and our existing customer base and existing products. The Company does not expect any of the Goodwill to be deductible for tax purposes. Purchase accounting procedures are ongoing and revisions to contingent consideration, intangible assets acquired, and adjustments for working capital true-ups may be recorded in future periods during the measurement period.

As a result of obtaining control of Insight, the Company remeasured its initial investments to its fair value resulting in a $8.8 million gain.

Investments

As of December 31, 2022, the balance of investments held by the company without readily determinable fair values was $16.5 million. The investments are carried at cost minus impairments, if any, plus adjustments for fair value indicators from observable price changes in orderly transactions for the identical or similar investment of the same issuer. There have been no impairments or upward adjustments in the current year or since acquisition of the investments except for the gain on our previously held equity investment in Insight discussed above. As a result of acquiring control of Insight, Enovis now consolidates the assets, liabilities, and results of operations of Insight and therefore current year and previous investments in Insight of $16.6 million are no longer recorded as cost basis investments.

2021 Acquisitions

The Company completed five acquisitions in its Reconstructive segment in 2021, for net cash consideration of $201.6 million and equity consideration of $285.7 million. The acquisitions are accounted for under the acquisition method of accounting, and accordingly, the Consolidated Financial Statements include the financial position and results of operations from the respective acquisition date. The Consolidated Balance Sheet as of December 31, 2022 reflects our estimates of fair value and are subject to adjustment for certain of the acquisitions as discussed below. Pro forma revenues of the aforementioned acquisitions in the year ended December 31, 2021, if the aforementioned acquisitions were part of the Company since January 1, 2021, were approximately 12% of Enovis consolidated revenues from continuing operations. The Company also made three investments during the year ended December 31, 2021 for a total of $16.8 million. These investments are carried at cost as they do not have a readily determinable fair value.

On January 19, 2021, the Reconstructive segment acquired Trilliant Surgical (“Trilliant”), a national provider of foot and ankle orthopedic implants. The product technologies of Trilliant support the Reconstructive segment’s focused expansion into the adjacent foot and ankle market. Trilliant has a broad product portfolio that covers the full universe of foot reconstructive and fixation procedures, and includes the novel Arsenal Foot Plating System, designed for greater flexibility and speed of implant placement. On April 23, 2021, the Reconstructive segment acquired MedShape, Inc. (“MedShape”), a provider of innovative surgical solutions for foot and ankle surgeons using its patented superelastic nickel titanium (NiTiNOL) and shape memory polymer technologies. The acquisition further expands the Company’s foot and ankle platform. These two acquisitions were completed for total consideration, net of cash received, of $204.1 million, subject to certain adjustments. Net working capital and intangible assets acquired represent 7.3% and 36.5% of the total consideration exchanged for these two acquisitions, respectively, with the residual amount primarily attributable to Goodwill. The Goodwill acquired in the Trilliant acquisition of $30 million is deductible for income tax purposes. Expected synergies between Trilliant, MedShape, and DJO through this portfolio of foot and ankle products and cross-selling to existing and acquired customers are primary drivers of the acquired Goodwill. Pro forma revenue of the Trilliant and MedShape acquisitions were approximately 3% of Enovis’ consolidated revenues from continuing operations. The purchase accounting related to the Trilliant and MedShape acquisitions has been completed.

On July 28, 2021, the Reconstructive segment acquired Mathys AG Bettlach (“Mathys”) for total acquisition equity consideration of $285.7 million of Enovis Common stock, which included cash acquired of $14.7 million. Mathys, a Switzerland-based company, develops and distributes innovative products for artificial joint replacement, synthetic bone graft solutions and sports medicine. The acquisition expands the Reconstructive segment’s reconstructive product portfolio with Mathys’ complimentary surgical solutions and broadens its international customer base.

Purchase accounting procedures for this acquisition have been completed and the finalized allocation of the aggregate fair value of assets acquired and liabilities assumed as of the date of the Mathys acquisition are presented below. None of the Goodwill recognized is expected to be deductible for income tax purposes. Goodwill recognized for the Mathys acquisition is primarily attributable to synergies from cross-selling DJO products with the acquired customers and cost savings through supply chain management. The following table summarizes the final allocation of consideration related to the Mathys acquisition as of the acquisition date:


	July 28, 2021
	(In thousands)
Trade receivables	$	19,578
Inventories	76,824
Property, plant and equipment	58,465
Goodwill	92,438
Intangible assets	106,000
Accounts payable	(4,808)
Other assets and liabilities, net	(77,494)
Consideration, net of cash acquired	$	271,003

The following table summarizes Intangible assets acquired in the Mathys acquisition, excluding Goodwill, as of the acquisition date:


	Intangible		Amortization
	Asset		Period
	(In thousands)		(Years)

Acquired technology	$	54,000	12
Customer relationships	34,000		16
Trademarks	18,000		20
Intangible assets	$	106,000

2020 Acquisitions

Our Reconstructive segment completed five acquisitions in 2020 for total consideration, net of cash received, of $67.5 million. Total Goodwill acquired through the acquisitions was $21.4 million, of which $15.9 million is expected to be deductible for income tax purposes.

Acquisitions in our Prevention & Recovery segment included LiteCure LLC (“LiteCure”), a U.S. leader in high-powered laser rehabilitation products for human and veterinary medical applications. The acquisition was completed in the fourth quarter of 2020 for net cash consideration of $39.6 million. Net working capital and intangible assets acquired represent 10% and 69% of the total consideration paid, respectively, with the residual amount primarily attributable to Goodwill.

Revenue

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue

The Company provides orthopedic solutions, including products and services spanning the full continuum of patient care, from injury prevention to rehabilitation. While the Company’s sales are primarily derived from three sales channels including dealers and distributors, insurance, and direct to consumers and hospitals, substantially all its revenue is recognized at a point in time. The Company disaggregates its revenue into the following segments:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Prevention & Recovery:
U.S. Bracing & Support	$	437,287	$	432,963	$	379,236
U.S. Other P&R	255,305		243,051		188,107
International P&R(1)	335,036		350,015		295,806
Total Prevention & Recovery	1,027,628		1,026,029		863,150

Reconstructive:
U.S. Reconstructive	370,173		323,187		245,215
International Reconstructive	165,300		76,972		12,335
Total Reconstructive	535,473		400,159		257,550

Total	$	1,563,101	$	1,426,188	$	1,120,700

(1) The year ended December 31, 2022 includes the unfavorable impact of $30.9 million of currency.

Given the nature of the businesses, the Company does not generally have unsatisfied performance obligations with an original contract duration of greater than one year.

The nature of the Company’s contracts gives rise to certain types of variable consideration, including rebates, implicit price

concessions, and other discounts. The Company includes estimated amounts of variable consideration in the transaction price to the extent that it is probable there will not be a significant reversal of revenue.

Allowance for Credit Losses

The Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments as of January 1, 2020. The estimate of current expected credit losses on trade receivables considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Management elected to disaggregate trade receivables into business segments due to risk characteristics unique to each segment given the individual lines of business and market. Pooling was further disaggregated based on either geography or product type.

The Company leveraged historical write-offs over a defined lookback period in deriving a historical loss rate. The expected credit loss model further considers current conditions and reasonable and supportable forecasts using an adjustment for current and projected macroeconomic factors. Management identified appropriate macroeconomic indicators based on a tangible correlation to historical losses considering the location and risks associated with the Company.

A summary of the activity in the Company’s allowance for credit losses included within Trade receivables in the Consolidated Balance Sheets is as follows:


	Year Ended December 31, 2022
	Balance at Beginning of Period		Charged to Expense, net		Write-Offs, Deductions and Other, net		Foreign Currency Translation		Balance at End of Period
	(In thousands)
Allowance for credit losses	$	6,589	$	2,552	$	(963)	$	(213)	$	7,965

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Net Income Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Income Per Share from Continuing Operations

Net income per share from continuing operations was computed as follows:


	Year Ended December 31,
	2022		2021		2020
	(In thousands, except share and per share data)
Computation of Net income (loss) per share from continuing operations - basic:
Net income (loss) from continuing operations attributable to Enovis Corporation(1)	$	(38,756)	$	(103,305)	$	(75,119)
Weighted-average shares of Common stock outstanding – basic	54,065,420		51,141,210		45,588,708
Net income (loss) per share from continuing operations – basic	$	(0.72)	$	(2.02)	$	(1.65)

Computation of Net income (loss) per share from continuing operations - diluted:
Net income (loss) from continuing operations attributable to Enovis Corporation(1)	$	(38,756)	$	(103,305)	$	(75,119)
Weighted-average shares of Common stock outstanding – basic	54,065,420		51,141,210		45,588,708
Net effect of potentially dilutive securities - stock options and restricted stock units	—		—		—
Weighted-average shares of Common stock outstanding – diluted	54,065,420		51,141,210		45,588,708
Net income (loss) per share from continuing operations – diluted	$	(0.72)	$	(2.02)	$	(1.65)

(1) Net income from continuing operations attributable to Enovis Corporation for the respective periods is calculated using Net income from continuing operations less the income attributable to noncontrolling interest from continuing operations, net of taxes, of $0.6 million, $1.1 million and $0.7 million for the years ended December 31, 2022, 2021 and 2020, respectively.

As a result of the one-for-three reverse stock split immediately following the Separation, all share and per share figures contained in the Consolidated Financial Statements have been retroactively restated as if the reverse stock split occurred at the beginning of the periods presented.

For the years ended December 31, 2021 and December 31, 2020, the weighted-average shares of Common stock outstanding - basic includes the impact of 6.1 million shares, as adjusted for the reverse stock split, for the actual or potential issuance of shares from tangible equity unit purchase contracts.

In January 2022, the final remaining amount of tangible equity unit purchase contracts were converted into approximately 1.7 million shares of the Company’s common stock, as adjusted for the reverse stock split. All the issued shares are included in the Common stock issued and outstanding as of December 31, 2022. See Note 14, “Equity”, for details.

For the year ended December 31, 2021, conversions of the Company’s tangible equity units resulted in the issuance of approximately 4.4 million shares, as adjusted for the reverse stock split, of Common stock. All issuances of Common stock related to the tangible equity units were converted at the minimum settlement rate of 4.0000 shares of Common stock for each purchase contract as a result of the Company’s share price.

For the year ended December 31, 2020, the weighted-average shares of Common stock outstanding - diluted includes the impact of an additional 0.3 million potentially issuable dilutive shares, as adjusted for the reverse stock split, related to tangible equity units as a result of the Company’s share price. See Note 14, “Equity”, for details.

The weighted-average computation of the dilutive effect of potentially issuable shares of Common stock under the treasury stock method for the years ended December 31, 2022, 2021 and 2020 excludes 1.1 million, 0.3 million and 1.4 million outstanding stock-based compensation awards, respectively, as their inclusion would be anti-dilutive.

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Loss from continuing operations before income taxes and Income tax expense (benefit) consisted of the following:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Income (loss) from continuing operations before income taxes:
Domestic operations	$	8,826	$	(129,903)	$	(136,455)
Foreign operations	(10,895)		8,122		17,449
	$	(2,069)	$	(121,781)	$	(119,006)
Income tax expense (benefit):
Current:
Federal	$	3,780	$	—	$	—
State	4,957		829		928
Foreign	3,405		9,862		6,521
	12,142		10,691		7,449
Deferred:
Domestic operations	73,370		(29,801)		(37,705)
Foreign operations	(49,392)		(418)		(14,323)
	23,978		(30,219)		(52,028)
	$	36,120	$	(19,528)	$	(44,579)

See Note 4, “Discontinued Operations” for the loss from discontinued operations and related income taxes.

The Company’s Income tax expense (benefit) from continuing operations differs from the amount that would be computed by applying the U.S. federal statutory rate as follows:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Taxes calculated at the U.S. federal statutory rate	$	(435)	$	(25,574)	$	(24,991)
State taxes	10,878		(4,473)		(439)
Effect of tax rates on international operations	(5,106)		681		(5,246)

Changes in valuation allowance	(12,126)		(4,496)		(20,327)
Changes in tax reserves	1,724		(2,332)		2,168



Research and development tax credits	(2,599)		(2,392)		(2,248)

Net items not deductible in an international jurisdiction	1,859		772		40
U.S. tax on international operations	4,565		14,865		1,873
Transaction related costs	27,699		—		—
Withholding taxes	495		556		854
Non-deductible employee compensation	9,013		2,562		4,450

Other	153		303		(713)
Income tax expense (benefit)	$	36,120	$	(19,528)	$	(44,579)

Deferred income taxes, net reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse. The significant components of deferred tax assets and liabilities included in continuing operations are as follows:


	December 31,
	2022		2021
	(In thousands)
Deferred tax assets:
Expenses currently not deductible	$	37,159	$	42,297
Net operating loss and interest expense limitation carryforward	162,713		285,009
Tax credit carryforward	37,883		26,960
Depreciation and amortization	28,659		1,058
Capitalized R&D expenditures	29,579		23,281
Non-current lease liability	17,815		21,066
Other	2,171		1,680
Valuation allowance	(93,542)		(111,812)
Deferred tax assets, net	222,437		289,539
Deferred tax liabilities:
Depreciation and amortization	(237,374)		(269,929)


Lease asset - right of use	(17,380)		(20,702)
Total deferred tax liabilities	(254,754)		(290,631)
Total deferred tax liabilities, net	$	(32,317)	$	(1,092)

The Company evaluates the recoverability of its deferred tax assets on a jurisdictional basis by considering whether deferred tax assets will be realized on a more likely than not basis. To the extent a portion or all of the applicable deferred tax assets do not meet the more likely than not threshold, a valuation allowance is recorded. During the year ended December 31, 2022, the valuation allowance decreased from $111.8 million to $93.5 million with a net decrease of $12.1 million recognized in Income tax expense (benefit) and a $6.7 million decrease related to changes in foreign currency rates. Consideration was given to tax planning strategies and, when applicable, future taxable income as to how much of the relevant deferred tax asset could be realized on a more likely than not basis.

The Company has U.S. net operating loss carryforwards of $31.2 million expiring in years 2023 through 2037 and $26.3 million that may be carried forward indefinitely and U.S. interest limitation carryforward of $55.7 million that may be carried forward indefinitely. The Company’s ability to use these various carryforwards to offset any taxable income generated in future taxable periods may be limited under Section 382 and other federal tax provisions. As of December 31, 2022, the Company had $16.6 million foreign net operating loss carryforwards primarily in Germany, France, and the United Kingdom that may be subject to local tax limitations including changes in ownership. The foreign net operating losses can be carried forward indefinitely, except in applicable jurisdictions that make up less than five percent of the available net operating losses. The company has $32.9 million of foreign interest limitation carryforward primarily in Germany, that may be carried forward indefinitely.

The Company has U.S. foreign tax and R&D tax credits that may be used to offset U.S. tax in previous or future tax periods subject to Section 382 and other federal provisions. The Company’s $24.3 million foreign tax credit can be carried back one year and carried forward to tax years 2023 through 2031. The Company’s $9.3 million R&D credit can be carried back one year and carried forward to tax years 2023 through 2042.

For the year ended December 31, 2022, undistributed earnings of the Company’s foreign subsidiaries are estimated to be $50.9 million, all of which is permanently reinvested; accordingly, the Company has assessed no deferred tax liability as of December 31, 2022 on such earnings. This is a decrease of $0.2 million as compared to the deferred tax liability as of December 31, 2021, which was transferred as part of the divestiture of ESAB.

The Company records a liability for unrecognized income tax benefits for the amount of benefit included in its previously filed income tax returns and in its financial results expected to be included in income tax returns to be filed for periods through the date of its Consolidated Financial Statements for income tax positions for which it is not more likely than not to be sustained upon examination by the respective taxing authority. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:


	(In thousands)




















Balance, January 1, 2020	$	55,480

Addition for tax positions taken in prior periods	5,911
Addition for tax positions taken in the current period	1,980
Reductions related to settlements with taxing authorities	—
Reductions resulting from a lapse of applicable statute of limitations	(5,689)
Other, including the impact of foreign currency translation	332
Balance, December 31, 2020	58,014
Acquisitions and divestitures	4,450
Addition for tax positions taken in prior periods	228
Addition for tax positions taken in the current period	3,653
Reductions related to settlements with taxing authorities	(425)
Reductions resulting from a lapse of applicable statute of limitations	(3,239)
Other, including the impact of foreign currency translation	(734)
Balance, December 31, 2021	61,947
Acquisitions and divestitures	(23,250)

Addition for tax positions taken in the current period	462

Reductions resulting from a lapse of applicable statute of limitations	(244)
Other, including the impact of foreign currency translation	(616)
Balance, December 31, 2022	$	38,299

The Company is routinely examined by tax authorities around the world. Tax examinations remain in process in multiple countries, including but not limited to Germany, China, the United States and various U.S. states. The Company files numerous group and separate tax returns in U.S. federal and state jurisdictions, as well as international jurisdictions. In the U.S., tax years dating back to 2009 remain subject to examination, due to tax attributes available to be carried forward to open or future tax years. With some exceptions, other major tax jurisdictions generally are not subject to tax examinations for years beginning before 2016.

The Company records interest and penalties on uncertain tax positions as a component of Income tax expense (benefit), which was $1.1 million, $0.6 million and $0.7 million for the years ended December 31, 2022, 2021 and 2020, respectively. As of December 31, 2022 and 2021, we had accrued $4.2 million and $7.5 million, respectively, of interest and penalties related to unrecognized tax benefits. Due to the difficulty in predicting with reasonable certainty when tax audits will be fully resolved and closed, the range of reasonably possible significant increases or decreases in the liability for unrecognized tax benefits that may occur within the next 12 months is difficult to ascertain. Currently, the Company estimates that it is reasonably possible that the expiration of various statutes of limitations, resolution of tax audits and court decisions may reduce its tax expense in the next 12 months up to $1.7 million. The gross amount of the unrecognized tax benefits that, if recognized, would affect the Company’s effective tax rate was $26.9 million as of December 31, 2022.

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

Goodwill and Intangible Assets

The following table summarizes the activity in Goodwill, by segment during the years ended December 31, 2022 and 2021:


	Prevention & Recovery		Reconstructive		Total
	(In thousands)




Balance, January 1, 2021	$	1,102,461	$	658,805	$	1,761,266
Goodwill attributable to acquisitions(1)	2,826		187,255		190,081

Impact of foreign currency translation	(16,754)		(335)		(17,089)
Balance, December 31, 2021	1,088,533		845,725		1,934,258
Goodwill attributable to acquisitions(1)	—		61,241		61,241

Impact of foreign currency translation	(10,897)		(1,014)		(11,911)
Balance, December 31, 2022	$	1,077,636	$	905,952	$	1,983,588

(1) Includes purchase accounting adjustments associated with acquisitions discussed in Note 5, “Acquisitions”.

The following table summarizes the Company’s Intangible assets, excluding Goodwill:


	December 31,
	2022				2021
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
	(In thousands)


Definite-Lived Intangible Assets
Acquired customer relationships	$	528,489	$	(215,962)	$	531,838	$	(158,229)
Acquired technology	553,284		(134,967)		504,226		(91,322)
Acquired trade names	414,801		(74,644)		405,087		(53,932)
Software	72,371		(39,202)		43,378		(27,442)
Other intangible assets	9,917		(3,360)		1,699		(1,275)
	$	1,578,862	$	(468,135)	$	1,486,228	$	(332,200)

Amortization expense related to acquired intangible assets, including acquired customer relationships, acquired technology, and acquired trade names, are presented on the face of the Consolidated Statements of Operations. Other intangible assets amortization expense consists primarily of amortization of software intangibles and is recorded as a component of Selling, general, and administrative expense in the Consolidated Statements of Operations. Total amortization expense is $133.7 million, $125.0 million, and $115.9 million for the years ended December 31, 2022, 2021 and 2020, respectively.

See Note 2, “Summary of Significant Accounting Policies” for discussion regarding impairment of Intangible assets.

Expected Amortization Expense

The Company’s expected annual amortization expense for intangible assets for the next five years is as follows:


	December 31, 2022
	(In thousands)
2023	$	127,187
2024	126,176
2025	125,081
2026	120,011
2027	111,936

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net


		December 31,
	Depreciable Life	2022		2021
	(In years)	(In thousands)
Land	n/a	$	5,935	$	6,075
Buildings and improvements	5-40	36,548		33,170
Machinery and equipment	3-15	375,441		325,342
		417,924		364,587
Accumulated depreciation		(181,183)		(129,474)
		$	236,741	$	235,113

Depreciation expense for the years ended December 31, 2022, 2021 and 2020, was $69.2 million, $62.0 million and $52.0 million, respectively.

Inventories, Net

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories, Net

Inventories, net consisted of the following:


	December 31,
	2022		2021
	(In thousands)
Raw materials	$	100,038	$	66,824
Work in process	28,164		29,506
Finished goods	357,143		298,450
	485,345		394,780
Less: allowance for excess, slow-moving and obsolete inventory	(58,702)		(38,547)
	$	426,643	$	356,233

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

The Company leases certain office spaces, warehouses, facilities, vehicles, and equipment. Leases with an initial term of

twelve months or less are not recorded on the balance sheet. Most leases include renewal options, which can extend the lease term into the future. The Company determines the lease term by assuming options that are reasonably certain of being renewed will be exercised. Certain of the Company’s leases include rental payments adjusted for inflation. The right-of-use lease asset and lease liability are recorded on the Consolidated Balance Sheet, with the current lease liability being included in Accrued liabilities.


	December 31, 2022
	(In thousands)
Future lease payments by year:
2023	$	22,342
2024	15,364
2025	10,724
2026	7,866
2027	4,658
Thereafter	14,991
Total	75,945
Less: present value discount	(6,522)
Present value of lease liabilities	$	69,423

Weighted-average remaining lease term (in years):
Operating leases	5.87
Weighted-average discount rate:
Operating leases	3.8		%

Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Debt

Long-term debt consisted of the following:


	December 31,
	2022		2021
	(In thousands)
Term loan	$	219,279	$	782,435
Euro senior notes	—		395,552
TEU amortizing notes	—		6,501
2026 notes	—		297,906
Revolving credit facilities and other	40,000		603,932
Total debt	259,279		2,086,326
Less: current portion	(219,279)		(7,701)
Long-term debt	$	40,000	$	2,078,625

Debt Redemptions in Connection with the Separation

In conjunction with the Separation which occurred on April 4, 2022, the Company repaid all obligations under its previous credit agreement and entered into a new credit agreement (the “Enovis Credit Agreement”) with certain of its existing bank lenders. Additionally, on April 7, 2022 after the completion of the Separation, the Company completed the redemptions of its

3.25% Euro Senior Notes due 2025 and its 6.375% Senior Notes due 2026. As a result of these changes, the Company recorded Debt extinguishment charges of $20.1 million in the second quarter of 2022, comprised of $12.7 million in redemption premiums and $7.4 million in noncash write-offs of original issue discount and deferred financing fees.

Enovis Term Loan and Revolving Credit Facility

The Enovis Credit Agreement consists of a $900 million revolving credit facility (the “Revolver”) with an April 4, 2027 maturity date and a term loan with an initial aggregate principal amount of $450 million and an April 4, 2023 maturity date (the “Enovis Term Loan”). The Revolver contains a $50 million swing line loan sub-facility. Certain U.S. subsidiaries of the Company guarantee the obligations under the Credit Facility.

On November 18, 2022, the Company completed an exchange with a lender under the Enovis Credit Agreement of 6,003,431 shares of common stock of ESAB, representing all of the retained shares in ESAB following the Separation, for $230.5 million of the $450.0 million in term loan outstanding under the Credit Agreement, net of cost to sell.

The Enovis Credit Agreement contains customary covenants limiting the ability of the Company and its subsidiaries to, among other things, incur debt or liens, merge or consolidate with others, dispose of assets, make investments or pay dividends. In addition, the Enovis Credit Agreement contains financial covenants requiring the Company to maintain (i) a maximum total leverage ratio of not more than 4.00:1.00, with a step-down to 3.75:1.00 commencing with the fiscal quarter ending June 30, 2023, and a step-down to 3.50:1.00 commencing with the fiscal quarter ending June 30, 2024, and (ii) a minimum interest coverage ratio of 3.00:1.00. The Enovis Credit Agreement contains various events of default (including failure to comply with the covenants under the Enovis Credit Agreement and related agreements) and upon an event of default the lenders may, subject to various customary cure rights, require the immediate payment of all amounts outstanding under the Enovis Term Loan and the Enovis Revolver. As of December 31, 2022, the Company was in compliance with the covenants under the Enovis Credit Agreement.

As of December 31, 2022, the weighted-average interest rate of borrowings under the Enovis Credit Agreement was 5.71%, excluding accretion of original issue discount and deferred financing fees, and there was $860.0 million available on the Revolver.

The Company has $4.7 million in deferred financing fees recorded in conjunction with the Credit Facility as of December 31, 2022, which is being accreted to Interest expense, net primarily using the effective interest method over the life of the facility.

Euro Senior Notes

The Company had senior unsecured notes with an aggregate principal amount of €350 million due in May 2025, with an interest rate of 3.25%. The Euro Senior Notes were redeemed on April 7, 2022 at a 100.813% redemption premium after the completion of the Separation.

Tangible Equity Unit (“TEU”) Amortizing Notes

The Company previously had 6.50% TEU amortizing notes due in January 2022 at an initial principal amount of $15.6099 per note with equal quarterly cash installments of $1.4375 per note representing a payment of interest and partial payment of principal. The Company paid $6.5 million, $25.0 million, and $23.4 million of principal on the TEU amortizing notes in the years ended December 31, 2022, 2021, and 2020, respectively. The final installment payment was made on January 15, 2022. Additionally, in the first quarter of 2022, all of the remaining related TEU prepaid stock purchase contracts were converted to shares of common stock. See Note 14, “Equity” for further information.

2024 Notes and 2026 Notes

The Company had senior notes with a remaining principal amount of $300 million, which were due on February 15, 2026 and had an interest rate of 6.375% (the “2026 Notes”). The 2026 Notes were redeemed on April 7, 2022 at a 103.188% redemption premium after the completion of the Separation.

On April 24, 2021, the Company used the proceeds from its March 2021 equity offering to redeem all of its $600 million 6.0% senior notes due February 14, 2024 (the “2024 Notes”) and $100 million of the outstanding principal of its 2026 Notes for

$724.4 million. The 2024 Notes were redeemed at a redemption price of 103.000% of their principal amount and the 2026 Notes were redeemed at a redemption price of 106.375% of their principal amount, plus, in each case, accrued and unpaid interest through the date of redemption. In the second quarter of 2021, a net loss on the early extinguishment of debt of $29.9 million was recorded and included $24.4 million of call premium on the retired debt.

Other Indebtedness

In addition to the debt agreements discussed above, the Company is party to various overdraft facilities with a borrowing capacity of $30.0 million. As of December 31, 2022, there were no outstanding borrowings under these facilities.

The Company is party to letter of credit facilities with an aggregate capacity of $15.0 million. Total letters of credit of $7.1 million were outstanding as of December 31, 2022.

Contractual Maturities

The contractual maturities of the Company’s debt are as follows:


	December 31, 2022
	(In thousands)
2023	$	219,468
2024	—
2025	—
2026	—
2027	40,000
Thereafter	—
Total contractual maturities	259,468
Debt discount	(189)
Total debt	$	259,279

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1I
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
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-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Equity

Common Stock

On March 19, 2021, the Company completed the underwritten public offering of 5.4 million shares of Colfax Common stock, as adjusted for the reverse stock split, resulting in net proceeds of approximately $711.3 million, after deducting offering expenses and underwriters’ discount and commissions.

On July 28, 2021, the Company issued 2.2 million shares of Colfax Common stock, as adjusted for the reverse stock split, to the former shareholders of Mathys for acquisition consideration of $285.7 million.

Share Repurchase Program

On February 12, 2018, the Company’s Board of Directors authorized the repurchase of up to $100 million of the Company’s Common stock from time-to-time on the open market or in privately negotiated transactions. The Board of Directors increased the repurchase authorization by an additional $100 million on June 6, 2018. On July 19, 2018, the Board of Directors increased the repurchase authorization by another $100 million. The timing, amount and method of shares repurchased is determined by management based on its evaluation of market conditions and other factors.

During the year ended December 31, 2018, the Company repurchased 2,149,808 shares, as adjusted for the reverse stock split, of our Common stock in open market transactions for $200 million. Since 2018, there have been no repurchases made under this program. As of December 31, 2022, the remaining stock repurchase authorization by the Company’s Board of Directors was $100 million. There is no term associated with the remaining repurchase authorization.

Accumulated Other Comprehensive Loss

The following table presents the changes in the balances of each component of Accumulated other comprehensive loss including reclassifications out of Accumulated other comprehensive loss for the years ended December 31, 2022, 2021 and 2020. All amounts are net of tax and noncontrolling interest, if any.


	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension And Other Post-Retirement Benefit Cost		Foreign Currency Translation Adjustment		Unrealized Gain (Loss) On Hedging Activities		Total
	(In thousands)
















Balance at January 1, 2020	$	(106,500)	$	(421,889)	$	44,544	$	(483,845)
Other comprehensive income (loss) before reclassifications:
Net actuarial loss	(8,169)		—		—		(8,169)
Foreign currency translation adjustment	(1,849)		57,623		3,378		59,152
Gain on long-term intra-entity foreign currency transactions	—		3,289		—		3,289
Loss on net investment hedges	—		—		(26,268)		(26,268)
Other comprehensive income (loss) before reclassifications	(10,018)		60,912		(22,890)		28,004
Amounts reclassified from Accumulated other comprehensive loss(1)	3,735		—		—		3,735
Net Other comprehensive income (loss)	(6,283)		60,912		(22,890)		31,739
Balance at December 31, 2020	(112,783)		(360,977)		21,654		(452,106)
Other comprehensive income (loss) before reclassifications:

Net actuarial gain	20,866		—		—		20,866
Foreign currency translation adjustment	1,339		(146,409)		(230)		(145,300)

Gain on long-term intra-entity foreign currency transactions	—		32,261		—		32,261
Gain on net investment hedges	—		—		23,247		23,247

Other comprehensive income (loss) before reclassifications:	22,205		(114,148)		23,017		(68,926)
Amounts reclassified from Accumulated other comprehensive loss(1)	5,019		—		—		5,019

Net Other comprehensive income (loss)	27,224		(114,148)		23,017		(63,907)

Balance at December 31, 2021	(85,559)		(475,125)		44,671		(516,013)
Other comprehensive income (loss) before reclassifications:
Net actuarial gain	12,207		—		—		12,207
Foreign currency translation adjustment	470		(37,953)		—		(37,483)
Loss on long-term intra-entity foreign currency transactions	—		(21,779)		—		(21,779)
Gain on net investment hedges	—		—		9,028		9,028
Other comprehensive income (loss) before reclassifications:	12,677		(59,732)		9,028		(38,027)
Amounts reclassified from Accumulated other comprehensive loss(1)	629		—		—		629
Net Other comprehensive income (loss)	13,306		(59,732)		9,028		(37,398)
Distribution of ESAB Corporation	84,460		469,220		(53,699)		499,981
Balance at December 31, 2022	$	12,207	$	(65,637)	$	—	$	(53,430)

(1) Included in the computation of net periodic benefit cost. See Note 16, “Defined Benefit Plans” for additional details.

During the years ended December 31, 2022, 2021 and 2020, Noncontrolling interest decreased by $2.1 million, $1.3 million, and $2.6 million, respectively, as a result of Other comprehensive income, primarily due to foreign currency translation adjustment.

Share-Based Payments

On June 7, 2022, the shareholders of the Company approved an amendment (the “Amendment”) to the Company’s 2020 Omnibus Incentive Plan (the “2020 Plan”), which was originally adopted by the shareholders of the Company on May 21, 2020. The Amendment authorizes an additional 745,000 shares of common stock of the Company and did not make any other changes to the 2020 Plan. Upon the approval of the 2020 Plan, no additional ordinary shares were to be granted under the Company’s previously approved plans, including the Company’s 2016 Omnibus Incentive Plan dated May 13, 2016. All awards previously granted and outstanding under the prior plans remain subject to the terms of those prior plans. The 2020 Plan provides the Compensation and Human Capital Management Committee of the Company’s Board of Directors (“Compensation Committee”) discretion in creating employee equity incentives. Awards under the 2020 Plan may be made in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, performance-based stock, performance-based stock units, dividend equivalents, and other stock-based awards.

The Company measures and recognizes compensation expense related to share-based payments based on the fair value of the instruments issued, net of an estimated forfeiture rate. Stock-based compensation expense is generally recognized as a component of Selling, general and administrative expense in the Consolidated Statements of Operations, as payroll costs of the employees receiving the awards are recorded in the same line item.

The Company’s Consolidated Statements of Operations reflect the following amounts related to stock-based compensation:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Stock-based compensation expense(1)	$	38,955	$	35,350	$	28,911
Deferred tax benefit	1,236		2,658		1,804

(1) Stock-based compensation expense includes $2.1 million, $7.7 million and $6.6 million of expense included in Income from discontinued operations on the Company’s Consolidated Statements of Operations for the years ended December 31, 2022, 2021 and 2020, respectively.

As of December 31, 2022, the Company had $29.7 million of unrecognized compensation expense related to stock-based awards that will be recognized over a weighted-average period of 1.1 years. The intrinsic value of awards exercised or issued upon vesting was $37.2 million, $48.6 million, and $11.5 million during the years ended December 31, 2022, 2021 and 2020, respectively.

Stock Options

Under the 2020 Plan, the Company may grant options to purchase Common stock, with a maximum term of 10 years at a purchase price equal to the market value of the Company’s Common stock on the date of grant.

Stock-based compensation expense for stock option awards is based upon the grant-date fair value using the Black-Scholes option pricing model. The Company recognizes compensation expense for stock option awards on a straight-line basis over the requisite service period of the entire award. The following table shows the weighted-average assumptions used to calculate the fair value of stock option awards using the Black-Scholes option pricing model, as well as the weighted-average fair value of options granted:


	Year Ended December 31,
	2022			2021			2020
Expected period that options will be outstanding (in years)	4.77			4.50			4.62
Interest rate (based on U.S. Treasury yields at the time of grant)	2.10		%	0.61		%	1.09		%
Volatility	42.90		%	43.10		%	37.76		%
Dividend yield	—			—			—
Weighted-average fair value of options granted(1)	$	27.48		$	27.64		$	20.22

(1) The weighted-average fair value of options granted in 2021 and 2020 have been adjusted by a factor of 1.7 due to the Separation and reverse stock split.

As a result of the Separation, beginning in April 2022, expected volatility is based on the weighted average historical stock price volatility of a group of peer companies for the expected term of the option. Prior to April 2022, expected volatility was estimated based on the historical volatility of the Company’s stock price. The Company considers historical data to estimate forfeitures within the valuation model. Groups of employees that have similar historical exercise behavior are considered together for valuation purposes. The Company has elected to estimate the expected life of an award based upon the Securities and Exchange Commission-approved “simplified method” noted under the provisions of Staff Accounting Bulletin No. 107 with the continued use of this method extended under the provisions of Staff Accounting Bulletin No. 110.

Stock option activity is as follows:


	Number of Options(1)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (In years)	Aggregate Intrinsic Value(2) (In thousands)
Outstanding at January 1, 2020	2,749,870	$	53.66
Granted	363,740	51.78
Exercised	(74,435)	46.98
Forfeited and expired	(334,105)	77.77
Outstanding at December 31, 2020	2,705,070	50.61
Granted	331,375	65.08
Exercised	(712,810)	48.91
Forfeited and expired	(170,529)	97.46
Outstanding at December 31, 2021	2,153,106	49.70
Granted	154,552	70.23
Exercised	(127,261)	45.69
Forfeited and expired	(407,069)	72.53
Adjustment due to ESAB Separation(3)	(425,651)	57.64
Outstanding at December 31, 2022	1,347,677	59.96		3.68	$	3,721
Vested or expected to vest at December 31, 2022	1,341,299	59.90		3.67	3,721
Exercisable at December 31, 2022	1,009,553	56.07		3.12	3,628

(1) The outstanding options as of December 31, 2021 and the option activity prior to December 31, 2021 have been adjusted by a factor of 1.7 due to the Separation and reverse stock split.

(2) The aggregate intrinsic value is based upon the difference between the Company’s closing stock price at the date of the Consolidated Balance Sheet and the exercise price of the stock option for in-the-money stock options. The intrinsic value of outstanding stock options fluctuates based upon the trading value of the Company’s Common stock.

(3) Reflects the cancellation of outstanding options held by ESAB employees as of April 4, 2022, which were replaced with ESAB options issued by ESAB Corp. as part of the Separation.

The total intrinsic value of options exercised during the years ended December 31, 2022, 2021 and 2020 was $1.5 million, $21.4 million and $1.1 million, respectively. The fair value of options vested during the years ended December 31, 2022, 2021 and 2020 was $7.4 million, $9.0 million and $11.9 million, respectively.

Restricted Stock Units

Under the 2020 Plan, the Compensation Committee may award performance-based restricted stock units (“PRSUs”), the vesting of which is contingent upon meeting service conditions and various performance goals.

During the years ended December 31, 2022, 2021 and 2020, the Company granted certain employees PRSUs, the vesting of which is fully based on the Company’s total shareholder return (“TSR”) ranking among a peer group over a three-year performance period. The awards also have a service requirement that equals the respective performance periods. The final achievement of all outstanding PRSU awards was determined as of April 4, 2022 based on the current performance as of the time of the Separation. It was determined that 100% of the TSR metric was achieved for the PRSUs granted during the years ended December 31, 2022 and 2021, while 70% of the TSR metric was achieved for the PRSUs granted during the year ended December 31, 2020. The achievement factors were determined in accordance with the applicable criteria established by the Compensation Committee. While the achievement factor of the outstanding awards has been determined, they remain subject to the awards’ service period requirements and will therefore continue to vest over the original term of the award.

PRSUs with TSR conditions are valued at grant date using a binomial-lattice model (i.e., Monte Carlo simulation model). PRSUs with TSR conditions are recognized on a straight-line basis over the performance periods regardless of the performance condition achievement because the probability is factored into the valuation of the award. The related compensation expense for each of the awards is recognized, on a straight-line basis, over the vesting period.

Under the 2020 Plan, the Compensation Committee may also award non-performance-based restricted stock units (“RSUs”) to select executives, employees and outside directors, which typically vest three years after the date of grant. With limited exceptions, the employee must remain in service until the vesting date. The Compensation Committee determines the terms and conditions of each award, including the restriction period and other criteria applicable to the awards. Directors may also elect to defer their annual board fees into RSUs with immediate vesting. Delivery of the shares underlying these director restricted stock units is deferred until termination of the director’s service on the Company’s Board of Directors.

The activity in the Company’s PRSUs and RSUs is as follows:


	PRSUs			RSUs
	Number of Units(1)	Weighted- Average Grant-Date Fair Value		Number of Units(1)	Weighted- Average Grant-Date Fair Value
Nonvested at January 1, 2020	436,103	$	52.48	383,836	$	45.54
Granted	84,110	86.55		323,526	59.27
Vested	(60,958)	50.83		(165,192)	42.74
Forfeited and expired	(29,019)	47.48		(52,516)	49.84
Nonvested at December 31, 2020	430,236	59.70		489,654	55.06
Granted	146,322	77.84		464,279	78.84
Vested	(113,991)	52.75		(248,405)	51.71
Forfeited and expired	(96,492)	48.30		(60,311)	63.95
Nonvested at December 31, 2021	366,075	72.13		645,217	69.44
Granted	192,921	47.89		303,752	67.58
Vested	(230,310)	49.69		(243,485)	64.11
Forfeited and expired	(35,516)	46.07		(70,914)	69.22
Adjustment due to ESAB Separation(2)	(32,373)	46.07		(131,291)	71.52
Nonvested at December 31, 2022	260,797	77.34		503,279	71.33

(1) The outstanding awards as of December 31, 2021 and the award activity prior to December 31, 2021, have been adjusted by a factor of 1.7 due to the Separation and reverse stock split.

(2) Reflects the cancellation of unvested awards held by ESAB employees as of April 4, 2022, which were replaced with ESAB awards issued by ESAB as part of the Separation.

The fair value of shares vested during the years ended December 31, 2022, 2021 and 2020 was $32.1 million, $18.3 million and $9.7 million, respectively.

TEU offering

On January 11, 2019, the Company issued $460 million in TEUs with a 5.75% interest rate, comprised of 4.6 million units at $100 per unit. Total cash of $447.7 million was received upon closing. The proceeds from the issuance of the TEUs were allocated 84.4% to equity (the “TEU prepaid stock purchase contracts”) and 15.6% to debt (the “TEU amortizing notes”) based on the relative fair value of the respective components of each TEU. See Note 13, “Debt” for additional information on the TEU amortizing notes. The TEU prepaid stock purchase contracts were mandatorily converted into shares of Company common stock on January 15, 2022, unless previously settled at the holder’s option. All the TEU prepaid stock purchase contracts converted at the minimum settlement rate. Approximately 1.3 million and 3.3 million TEU prepaid stock purchase contracts were settled into approximately 1.7 million and 4.4 million shares of Company common stock, as adjusted for the reverse stock split, during the years ended December 31, 2022 and 2021, respectively. Since the 4.6 million TEU prepaid stock purchase contracts were mandatorily converted into shares of Company common stock at the minimum settlement rate or greater, 6.1 million shares, as adjusted for the reverse stock split, are included in basic net income per share calculations for all periods presented. See Note 7, “Net Income Per Share from Continuing Operations” for additional information.

Accrued Liabilities

12 Months Ended

Dec. 31, 2022

Accrued Liabilities [Abstract]

Accrued Liabilities

Accrued liabilities in the Consolidated Balance Sheets consisted of the following:


	December 31,
	2022		2021
	(In thousands)
Accrued compensation and related benefits	$	51,384	$	66,290
Accrued taxes	13,676		12,970

Accrued freight	3,955		5,299
Contingent consideration - current portion	8,812		1,816
Warranty liability- current portion	2,804		2,503
Accrued restructuring liability - current portion	1,090		2,170
Accrued third-party commissions	24,958		22,362
Customer advances and billings in excess of costs incurred	3,560		9,203
Lease liability - current portion	24,281		21,936
Accrued interest	2,921		11,066
Accrued rebates	13,715		12,584
Accrued professional fees	15,670		13,711
Accrued royalties	5,777		5,045
Other	37,689		38,436
	$	210,292	$	225,391

Accrued Restructuring Liability

The Company’s restructuring programs include a series of actions to reduce the structural costs of the Company. A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Consolidated Balance Sheets is as follows:


	Year Ended December 31, 2022
	Balance at Beginning of Period		Provisions		Payments		Balance at End of Period(4)
	(In thousands)
Restructuring and other charges:

Termination benefits(1)	$	2,470	$	3,944	$	(5,441)	$	973
Facility closure costs and other(2)	358		12,864		(13,104)		118
Total	$	2,828	16,808		$	(18,545)	$	1,091
Non-cash charges(3)			2,152
Total Provisions(5)			$	18,960

(1) Includes severance and other termination benefits, including outplacement services.

(2) Includes the cost of relocating associates, relocating equipment, lease termination expense, and other costs in connection with the closure and optimization of facilities and product lines.

(3) The Company’s charges include $1.7 million classified as Cost of sales on the Company’s Consolidated Statements of Operations for the year ended December 31, 2022. The remaining $17.2 million of restructuring expense is recorded as Restructuring and other charges on the Company’s Consolidated statements of Operations for the year ended December 31, 2022.

(4) As of December 31, 2022, all of the restructuring liability was included in Accrued liabilities.

(5) $9.6 million and $9.4 million of the Company’s total provisions is related to the Prevention & Recovery and Reconstructive segments, respectively.


	Year Ended December 31, 2021
	Balance at Beginning of Period		Provisions		Payments		Foreign Currency Translation		Balance at End of Period(4)
	(In thousands)
Restructuring and other charges:

Termination benefits(1)	$	1,884	$	4,036	$	(3,441)	$	(9)	$	2,470
Facility closure costs(2)	297		4,627		(4,566)		—		358
Total	$	2,181	8,663		$	(8,007)	$	(9)	$	2,828
Non-cash charges(3)			5,251
Total Provisions(5)			$	13,914

(1) Includes severance and other termination benefits, including outplacement services.

(2) Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure and optimization of facilities and product lines.

(3) The Company’s charges include $5.2 million classified as Cost of sales on the Company’s Consolidated Statements of Operations for the year ended December 31, 2021.The remaining $8.7 million of restructuring expense is recorded as Restructuring and other charges on the Company’s Consolidated statements of Operations for the year ended December 31, 2021.

(4) As of December 31, 2021, all of the restructuring liability was included in Accrued liabilities. In the Accrued liabilities table above, $0.4 million and $0.3 million of the Company’s restructuring liability is included in Accrued compensation and related benefits and Other, respectively.

(5) $11.5 million and $2.4 million of the Company’s total provisions is related to the Prevention & Recovery and Reconstructive segments, respectively.

Defined Benefit Plans Defined Benefit Plans

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Defined Benefit Plans

The Company sponsors various defined benefit plans and defined contribution plans for certain eligible employees or former employees. Since the Separation, all of the Company’s defined benefit plans are based outside of the U.S and the Company does not sponsor any other post-retirement benefit plans. The Company uses December 31st as the measurement date for all of its employee benefit plans.

As part of the Separation, all plans sponsored by ESAB and certain U.S. defined benefit and other post-retirement plans, formerly sponsored by the Company, were transferred to ESAB as of March 21, 2022. As a result of the transfer, the related net plan obligations of approximately $70 million are reflected as discontinued operations within the Company’s Consolidated Balance Sheet as of December 31, 2021. The impact of transferring the plans to ESAB is shown as Divestitures in the tables

below. The following tables include all plans historically sponsored by the Company prior to the transfer to ESAB. See Note 4, “Discontinued Operations” for further information.

The following table summarizes the total changes in the Company’s pension and accrued post-retirement benefits and plan assets and includes a statement of the plans’ funded status. The amounts presented as of December 31, 2021 and the changes in benefit obligation and plan assets in 2022 include three months of activity of the ESAB plans prior to the Separation.


	Pension Benefits				Other Post-Retirement Benefits
	Year Ended December 31,				Year Ended December 31,
	2022		2021		2022		2021
	(In thousands)
Change in benefit obligation:
Projected benefit obligation, beginning of year	$	455,067	$	379,295	$	12,078	$	13,344
Acquisitions(1)	—		101,312		—		—
Service cost	4,703		3,719		4		14
Interest cost	1,821		4,642		61		189
Actuarial gain(2)	(21,586)		(11,171)		—		(650)
Foreign exchange effect	(4,844)		(6,569)		(7)		(7)
Benefits paid	(5,724)		(22,073)		(231)		(812)
Divestitures(3)	(337,045)		—		(11,905)		—
Other	2,683		5,912		—		—
Projected benefit obligation, end of year	$	95,075	$	455,067	$	—	$	12,078
Accumulated benefit obligation, end of year	$	91,527	$	447,275	$	—	$	12,078
Change in plan assets:
Fair value of plan assets, beginning of year	$	366,820	$	267,254	$	—	$	—
Acquisitions(1)	—		72,263		—		—
Actual return on plan assets	(4,193)		27,554		—		—
Employer contribution	3,416		6,531		231		812
Foreign exchange effect	(2,599)		(1,374)		—		—
Benefits paid	(5,724)		(22,073)		(231)		(812)
Divestitures(3)	(282,534)		—		—		—
Settlements(4)	—		11,272		—		—
Other	2,510		5,393		—		—
Fair value of plan assets, end of year	$	77,696	$	366,820	$	—	$	—
Funded status, end of year	$	(17,379)	$	(88,247)	$	—	$	(12,078)
Amounts recognized on the Consolidated Balance Sheet at December 31:
Non-current assets(5)	$	—	$	7,733	$	—	$	—

Current liabilities(6)	(174)		(3,564)		—		(923)
Non-current liabilities(6)	(17,205)		(92,416)		—		(11,155)


Total	$	(17,379)	$	(88,247)	$	—	$	(12,078)

(1) Acquisitions for 2021 relate to our acquisition of Mathys. See Note 5, “Acquisitions”, for further information.

(2) The actuarial gains for 2022 and 2021 are primarily due to the increases in discount rates in most markets.

(3) Divestitures are related to the Separation.

(4) Settlements includes $11.2 million classified as Pension settlement gain included in discontinued operations for 2021, when independent trustees of a company pension plan agreed to merge that plan with another company pension plan and contribute its surplus assets.

(5) As of December 31, 2021, all of the non-current plan assets are associated with discontinued operations.

(6) As of December 31, 2021, current pension liabilities and non-current pension liabilities of $3.4 million and $62.2 million, respectively, are associated with discontinued operations. Additionally, all of the other post-retirement benefits liabilities are associated with discontinued operations.

As of December 31, 2022, all remaining Enovis plans had projected benefit obligations in excess of the fair value of plan assets. As of December 31, 2021, for pension plans with projected benefit obligations in excess of plan assets, the projected benefit obligation and fair value of plan assets were $185.0 million and $87.5 million, respectively.

The projected benefit obligation decreased by $360.0 million in the year ended December 31, 2022 compared to an increase of $75.8 million in the year ended December 31, 2021. In the year ended December 31, 2022, the single largest driver was a decrease of $337.0 million due to the divestiture of ESAB. In addition, there was an actuarial gain of $21.6 million. In the year ended December 31, 2021, the single largest driver was an increase of $101.3 million from the Mathys acquisition. This was offset by benefits paid of $22.1 million, a foreign exchange gain of $6.6 million, and an actuarial gain of $11.2 million, of which approximately $7.8 million related to domestic pension plans and $3.4 million related to foreign pension plans.

The following table summarizes the changes in the Company’s foreign pension benefit obligation, which is determined based upon an employee’s expected date of separation, and plan assets, included in the table above, and includes a statement of the plans’ funded status. The amounts presented as of December 31, 2021 and the changes in benefit obligation and plan assets in 2022 include three months of activity of the ESAB plans prior to the Separation.


	Foreign Pension Benefits
	Year Ended December 31,
	2022		2021
	(In thousands)
Change in benefit obligation:
Projected benefit obligation, beginning of year	$	252,739	$	157,195
Acquisitions(1)	—		101,312
Service cost	4,703		3,719
Interest cost	897		1,741
Actuarial loss (gain)(2)	(21,586)		(3,449)
Foreign exchange effect	(4,844)		(6,569)
Benefits paid	(1,854)		(7,122)
Divestitures(3)	(137,663)		—
Other	2,683		5,912
Projected benefit obligation, end of year	$	95,075	$	252,739
Accumulated benefit obligation, end of year	$	91,527	$	244,946
Change in plan assets:
Fair value of plan assets, beginning of year	$	165,561	$	73,114
Acquisitions(1)	—		72,263
Actual return on plan assets	(6,557)		5,665
Employer contribution	3,378		6,350
Foreign exchange effect	(2,599)		(1,374)
Benefits paid	(1,854)		(7,122)
Divestitures(3)	(82,743)		—
Settlements(4)	—		11,272
Other	2,510		5,393
Fair value of plan assets, end of year	$	77,696	$	165,561
Funded status, end of year	$	(17,379)	$	(87,178)

(1) Acquisitions in the year ended December 31, 2021 relate to our acquisition of Mathys. See Note 5, “Acquisitions”, for further information.

(2) The actuarial gains for 2022 and 2021 are primarily due to the increases in discount rates in all markets.

(3) Divestitures are related to the Separation.

(4) Settlements includes $11.2 million classified as Pension settlement gain included in discontinued operations for the year ended December 31, 2021.

Expected contributions to the Company’s pension plans for the year ending December 31, 2023 are $3.3 million. The following benefit payments are expected to be paid during each respective fiscal year:


	Pension Benefits
	All Plans
	(In thousands)
2023	$	4,710
2024	5,120
2025	5,838
2026	5,096
2027	5,055
2028 - 2031	28,098

The Company’s primary investment objective for its pension plan assets is to provide a source of retirement income for the plans’ participants and beneficiaries. The assets are invested with the goal of preserving principal while providing a reasonable real rate of return over the long term. Diversification of assets is achieved through strategic allocations to various asset classes. Actual allocations to each asset class vary due to periodic investment strategy changes, market value fluctuations, the length of time it takes to fully implement investment allocation positions, and the timing of benefit payments and contributions. The asset allocation is monitored and rebalanced as required, as frequently as on a quarterly basis in some instances. The following are the actual and target allocation percentages for the Company’s pension plan assets:


	Actual Asset Allocation December 31,				Target
	2022		2021		Allocation
U.S. Plans:(1)
Equity securities:
U.S.			45	%
International			15	%
Fixed income			38	%
Other			—	%
Cash and cash equivalents			1	%
Foreign Plans:
Equity securities	35	%	28	%	25%-43%
Fixed income securities	27	%	27	%	24%-43%
Cash and cash equivalents	2	%	2	%	0%-10%
Other	36	%	43	%	25%-45%

(1) As of December 31, 2022, all U.S. plans have been divested as a result of the Separation.

A summary of the Company’s pension plan assets for each fair value hierarchy level for the periods presented follows (see Note 17, “Financial Instruments and Fair Value Measurements”, for further description of the levels within the fair value hierarchy):


	December 31, 2022
	Measured at Net Asset Value		Level One		Level Two		Level Three		Total
	(In thousands)










Foreign Plans:
Cash and cash equivalents	$	—	$	1,250	$	—	$	—	$	1,250
Equity securities	—		27,074		—		—		27,074
Non-U.S. government and corporate bonds	—		21,224		—		—		21,224
Other(1)	—		—		28,148		—		28,148
	$	—	$	49,548	$	28,148	$	—	$	77,696

(1) Represents diversified portfolio funds, reinsurance contracts and money market funds.


	December 31, 2021
	Measured at Net Asset Value(1)		Level One		Level Two		Level Three		Total
	(In thousands)
U.S. Plans:
Cash and cash equivalents(2)	$	—	$	1,699	$	—	$	—	$	1,699
Equity securities:
U.S. large cap	52,810		—		—		—		52,810
U.S. small/mid cap	21,983		15,501		—		—		37,484
International	31,094		—		—		—		31,094
Fixed income mutual funds:
U.S. government and corporate	77,084		—		—		—		77,084
Other(3)	—		1,088		—		—		1,088
Foreign Plans:
Cash and cash equivalents	—		3,029		—		—		3,029
Equity securities	—		46,475		—		—		46,475
Non-U.S. government and corporate bonds	—		45,480		—		—		45,480
Other(3)	—		—		70,577		—		70,577
	$	182,971	$	113,272	$	70,577	$	—	$	366,820

(1) Certain investments that are measured at fair value using the NAV have not been classified in the fair value hierarchy. These investments, consisting primarily of common/collective trusts, are valued using the NAV provided by the Trustee. The NAV is based on the underlying investments held by the fund, that are traded in an active market, less its liabilities. These investments are able to be redeemed in the near-term.

(2) The weighted-average interest crediting rates received in Cash and cash equivalents of U.S plans are immaterial relative to total plan assets.

(3) Represents diversified portfolio funds, reinsurance contracts and money market funds.

The following table sets forth the components of Net periodic benefit (income) cost and Other comprehensive (gain) loss of the Company’s defined benefit pension plans and other post-retirement employee benefit plans:


	Pension Benefits						Other Post-Retirement Benefits
	Year Ended December 31,						Year Ended December 31,
	2022		2021		2020		2022		2021		2020
	(In thousands)
Components of Net Periodic Benefit (Income) Cost:
Service cost	$	4,703	$	3,719	$	1,933	$	4	$	14	$	8
Interest cost	1,821		4,642		7,454		61		189		313
Amortization	1,187		5,953		4,960		(36)		(109)		(231)
Settlement (gain) loss	—		(11,157)		99		—		—		—
Other	(20)		2		143		—		—		—
Expected return on plan assets	(4,789)		(12,819)		(12,773)		—		—		—
Net periodic benefit (income) cost	$	2,902	$	(9,660)	$	1,816	$	29	$	94	$	90
Change in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Gain) Loss:
Current year net actuarial (gain) loss	$	(14,728)	$	(27,385)	$	10,379	$	—	$	(651)	$	1,143
Current year prior service cost	221		—		74		—		—		—
Less amounts included in net periodic benefit (income) cost:
Amortization of net (gain) loss	(1,135)		(5,899)		(4,914)		36		109		231
Settlement/divestiture/other gain	—		(51)		(177)		—		—		—
Amortization of prior service cost	(52)		(65)		(46)		—		—		—
Total recognized in Other comprehensive (gain) loss	$	(15,694)	$	(33,400)	$	5,316	$	36	$	(542)	$	1,374

Net periodic benefit (income) cost of $0.3 million, $(9.9) million, and $2.4 million, for the years ended December 31, 2022, 2021 and 2020, respectively are included in Income from discontinued operations. Each component of Net periodic benefit (income) cost from continuing operations is included in Selling, general and administrative expense.

The following table sets forth the components of Net periodic benefit (income) cost and Other comprehensive (gain) loss of the foreign defined benefit pension plans, included in the table above:


	Foreign Pension Benefits
	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Components of Net Periodic Benefit (Income) Cost:
Service cost	$	4,703	$	3,719	$	1,933
Interest cost	897		1,741		2,315
Amortization	273		1,223		747
Settlement (gain) loss	—		(11,157)		99
Other	(20)		2		143
Expected return on plan assets	(2,425)		(3,015)		(2,397)
Net periodic benefit (income) cost	$	3,428	$	(7,487)	$	2,840
Change in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Gain) Loss:
Current year net actuarial (gain) loss	$	(14,728)	$	(7,577)	$	6,226
Current year prior service cost	221		—		74
Less amounts included in net periodic benefit (income) cost:
Amortization of net (gain) loss	(221)		(1,169)		(701)
Settlement/divestiture/other gain	—		(51)		(177)
Amortization of prior service cost	(52)		(65)		(46)
Total recognized in Other comprehensive (gain) loss	$	(14,780)	$	(8,862)	$	5,376

The components of net unrecognized pension and other post-retirement benefit cost included in Accumulated other comprehensive income (loss) in the Consolidated Balance Sheets that have not been recognized as a component of Net periodic benefit (income) cost are as follows:


	Pension Benefits				Other Post-Retirement Benefits
	December 31,				December 31,
	2022		2021		2021
	(In thousands)
Net actuarial loss (gain)	$	(16,620)	$	72,612	$	(2,573)
Prior service cost	488		412		—
Total	$	(16,132)	$	73,024	$	(2,573)

The key economic assumptions used in the measurement of the Company’s pension and other post-retirement benefit obligations are as follows:


	Pension Benefits				Other Post-Retirement Benefits
	December 31,				December 31,
	2022		2021		2022		2021
Weighted-average discount rate:
All plans	2.2	%	1.7	%	—	%	2.6	%
Foreign plans	2.2	%	1.2	%	—	%	—	%
Weighted-average rate of increase in compensation levels for active foreign plans	1.5	%	0.9	%	—	%	—	%

The key economic assumptions used in the computation of Net periodic benefit (income) cost are as follows:


	Pension Benefits						Other Post-Retirement Benefits
	Year Ended December 31,						Year Ended December 31,
	2022		2021		2020		2022		2021		2020
Weighted-average discount rate:
All plans	1.7	%	1.7	%	2.5	%	2.6	%	2.1	%	3.0	%
Foreign plans	1.2	%	1.4	%	1.9	%	—	%	—	%	—	%
Weighted-average expected return on plan assets:
All plans	4.3	%	5.2	%	5.7	%	—	%	—	%	—	%
Foreign plans	2.8	%	3.6	%	4.1	%	—	%	—	%	—	%
Weighted-average rate of increase in compensation levels for active foreign plans	1.7	%	0.6	%	0.8	%	—	%	—	%	—	%

In determining discount rates, the Company utilizes the single discount rate equivalent to discounting the expected future cash flows from each plan using the yields at each duration from a published yield curve as of the measurement date.

The expected long-term rate of return on plan assets was based on the Company’s investment policy target allocation of the asset portfolio between various asset classes and the expected real returns of each asset class over various periods of time that are consistent with the long-term nature of the underlying obligations of these plans.

The Company maintains defined contribution plans for its employees. The Company’s expense in continuing operations for the years ended December 31, 2022, 2021 and 2020 was $6.6 million, $5.4 million and $4.8 million, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Financial Instruments and Fair Value Measurements

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value Measurements

The Company utilizes fair value measurement guidance prescribed by accounting standards to value its financial instruments. The guidance establishes a fair value hierarchy based on the inputs used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows:

Level One: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets.

Level Two: Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

Level Three: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The carrying values of financial instruments, including Trade receivables, other receivables and Accounts payable, approximate their fair values due to their short-term maturities. The estimated fair value of the Company’s debt of $0.3 billion and $2.1 billion as of December 31, 2022 and 2021, respectively, was based on current interest rates for similar types of borrowings and is in Level Two of the fair value hierarchy. The estimated fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future.

As of December 31, 2022, the Company held $22.8 million in Level Three liabilities arising from contingent consideration related to acquisitions. The fair value of the contingent consideration liabilities is determined using unobservable inputs and the inputs vary based on the nature of the purchase agreements. These inputs can include the estimated amount and timing of projected cash flows, the risk-adjusted discount rate used to present value the projected cash flows, and the probability of the

acquired company attaining certain targets stated within the purchase agreements. A change in these unobservable inputs to a different amount might result in a significantly higher or lower fair value measurement at the reporting date due to the nature of uncertainty inherent to the estimates. During the year ended December 31, 2022, the company recorded contingent consideration of $20.1 million in conjunction with current acquisitions as well as an adjustment to reduce contingent consideration by $3.3 million from a prior acquisition, which was reflected in Selling, general and administrative expense in the Consolidated Statements of Operations. The gross range of outcomes for contingent consideration arrangements that have a fixed limit is zero to $11.7 million. There are two contingent consideration arrangements that have no limits and are based on a percentage of sales in excess of a benchmark over a one-year period and five-year period, respectively.

There were no other transfers in or out of Level One, Two or Three during the years ended December 31, 2022 and 2021.

A summary of the Company’s assets and liabilities that are measured at fair value on a recurring basis for each fair value hierarchy level for the periods presented is as follows:


	December 31, 2022
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:






Deferred compensation plans	$	—	$	10,324	$	—	$	10,324
	$	—	$	10,324	$	—	$	10,324

Liabilities:

Foreign currency contracts - not designated as hedges	$	—	$	35	$	—	$	35


Deferred compensation plans	—		10,324		—		10,324
Contingent consideration	—		—		22,808		22,808

	$	—	$	10,359	$	22,808	$	33,167


	December 31, 2021
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:



Foreign currency contracts - not designated as hedges	$	—	$	5	$	—	$	5


Deferred compensation plans	—		11,213		—		11,213
	$	—	$	11,218	$	—	$	11,218

Liabilities:

Foreign currency contracts - not designated as hedges	$	—	$	260	$	—	$	260


Deferred compensation plans	—		11,213		—		11,213

Contingent consideration	—		—		5,000		5,000
	$	—	$	11,473	$	5,000	$	16,473

Deferred Compensation Plans

The Company maintains deferred compensation plans for the benefit of certain employees and non-executive officers. As of December 31, 2022 and 2021, the fair values of these plans were $10.3 million and $11.2 million, respectively. These plans are deemed to be Level Two within fair value hierarchy.

Derivatives

The Company periodically enters into foreign currency derivative contracts. As the Company has manufacturing sites internationally in Europe, Africa, and Asia and sells its products globally, the Company is exposed to movements in the exchange rates of various currencies. As a result, the Company enters into foreign currency swaps and forward contracts to mitigate this exchange rate risk. As the Company’s borrowings under the Credit Facility include variable interest rates, the

Company may periodically enter into interest rate swap or collar agreements to mitigate interest rate risk. Commodity derivative contracts can be used to manage costs of raw materials used in the Company’s production processes. There were no changes during the periods presented in the Company’s valuation techniques used to measure asset and liability fair values on a recurring basis.

Foreign Currency Contracts

Foreign currency contracts are measured using broker quotations or observable market transactions in either listed or over-the-counter markets. The Company primarily uses foreign currency contracts to mitigate the risk associated with customer forward sale agreements denominated in currencies other than the applicable local currency, and to match costs and expected revenues where production facilities have a different currency than the selling currency.

As of December 31, 2022 and 2021, the Company had foreign currency contracts related to purchases and sales with notional values of $0.8 million and $7.6 million, respectively.

The Company recognized the following in its Consolidated Financial Statements related to its derivative instruments:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Contracts Designated as Hedges:








Unrealized gain (loss) on net investment hedges(1)	$	—	$	23,247	$	(26,268)
Contracts Not Designated in a Hedge Relationship:


Foreign Currency Contracts:
Unrealized gain (loss)	(35)		(255)		—
Realized gain (loss)	(577)		(104)		—

(1) The unrealized gain (loss) on net investment hedges is attributable to the change in valuation of Euro denominated debt. In 2022, the Euro denominated debt was extinguished upon the Separation.

Concentration of Credit Risk

Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of trade accounts receivable. Concentrations of credit risk are considered to exist when there are amounts collectible from multiple counterparties with similar characteristics, which could cause their ability to meet contractual obligations to be similarly impacted by economic or other conditions. The Company performs credit evaluations of its customers prior to delivery or commencement of services and normally does not require collateral. Letters of credit are occasionally required when the Company deems necessary. There are no customers that represent more than 10% of the Company’s Accounts receivable, net as of December 31, 2022, 2021, and 2020.

- 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

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies General Litigation The Company is involved in various pending legal proceedings arising out of the ordinary course of the Company’s business. None of these legal proceedings are expected to have a material adverse effect on the financial condition, results of operations or cash flow of the Company. With respect to these proceedings and the litigation and claims described in the preceding paragraphs, management of the Company believes that it will either prevail, has adequate insurance coverage or has established appropriate accruals to cover potential liabilities. Legal costs related to proceedings or claims are recorded when incurred. Other costs that management estimates may be paid related to the claims are accrued when the liability is considered probable and the amount can be reasonably estimated. There can be no assurance, however, as to the ultimate outcome of any of these matters, and if all or substantially all of these legal proceedings were to be determined adverse to the Company, there could be a material adverse effect on the financial condition, results of operations or cash flow of the Company. Off-Balance Sheet Arrangements As of December 31, 2022, the Company had $162.0 million of unconditional purchase obligations with suppliers, the majority of which is expected to be paid by December 31, 2023.

Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

The Company conducts its continuing operations through the Prevention & Recovery and Reconstructive operating segments, which also represent the Company’s reportable segments.

• Prevention & Recovery - a leader in orthopedic solutions and recovery sciences, providing devices, software and services across the patient care continuum from injury prevention to rehabilitation after surgery, injury, or from degenerative disease.

•Reconstructive - innovation market-leader positioned in the fast-growing surgical implant business, offering a comprehensive suite of reconstructive joint products for the hip, knee, shoulder, elbow, foot, ankle, and finger.

The Company’s management, including the chief operating decision maker, evaluates the operating results of each of its reportable segments based upon Net sales and Adjusted EBITDA, which excludes from Net loss from continuing operations the effect of restructuring and certain other charges, MDR and related costs, acquisition-related intangible asset amortization and other non-cash charges, strategic transaction costs, stock-based compensation, insurance settlement gain, and inventory step-up charges from the operating income of the Company’s operating segments.

The Company’s segment results were as follows:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Net sales:
Prevention & Recovery	$	1,027,628	$	1,026,029	$	863,150
Reconstructive	535,473		400,159		257,550
Total Net sales	$	1,563,101	$	1,426,188	$	1,120,700

Segment Adjusted EBITDA(1):
Prevention & Recovery	$	141,344	$	133,500	$	112,562
Reconstructive	94,726		72,496		48,973
Total Adjusted EBITDA(1)	$	236,070	$	205,996	$	161,535

Depreciation, amortization and impairment
Prevention & Recovery	$	104,458	$	97,898	$	108,174
Reconstructive	98,507		89,091		59,729
Total depreciation, amortization and impairment	$	202,965	$	186,989	$	167,903

Capital expenditures:
Prevention & Recovery	$	25,140	$	19,514	$	31,953
Reconstructive	74,407		49,077		42,671
Total capital expenditures	$	99,547	$	68,591	$	74,624

(1) The following is a reconciliation of Income from continuing operations before income taxes to Adjusted EBITDA:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Loss from continuing operations before income taxes (GAAP)	$	(2,069)	$	(121,781)	$	(119,006)
Restructuring and other charges(1)	18,960		13,914		23,314
MDR and other costs(2)	16,709		7,949		6,900
Strategic transaction costs	61,024		23,448		2,800
Stock-based compensation	31,493		25,737		22,500
Depreciation and other amortization	76,664		70,069		64,597
Amortization of acquired intangibles	126,301		116,920		103,306
Insurance settlement gain(3)	(36,705)		—		—
Inventory step-up	12,802		10,758		4,300
Interest expense, net	24,052		29,112		52,824
Debt extinguishment charges	20,396		29,870		—
Gain on investment in ESAB Corporation	(102,669)		—		—
Gain on cost basis investment	(8,800)		—		—
Other income	(2,088)		—		—
Adjusted EBITDA (non-GAAP)	$	236,070	$	205,996	$	161,535

(1) Restructuring and other charges includes $1.7 million, $5.2 million and $6.6 million of expense classified as Cost of sales on the Company’s Consolidated Statements of Operations for the years ended December 31, 2022, 2021 and 2020, respectively.

(2) Primarily related to costs specific to compliance with medical device reporting regulations and other requirements of the European Union MDR. These costs are classified as Selling, general and administrative expense on our Consolidated Statements of Operations.

(3) Insurance settlement gain is related to the 2019 acquisition of DJO.


	December 31,
	2022		2021(1)
	(In thousands)
Total assets:
Prevention & Recovery	$	2,470,917	$	2,966,646
Reconstructive	1,802,331		1,854,603
Total	$	4,273,248	$	4,821,249

(1) Represents assets from continuing operations including allocation of centrally managed cash and cash equivalents. Total assets related to discontinued operations was $3.7 billion.

The detail of the Company’s operations by geography is as follows:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Net sales by origin(1):
United States	$	1,062,765	$	1,030,440	$	839,972
Foreign locations	500,336		395,748		280,728
Total	$	1,563,101	$	1,426,188	$	1,120,700

(1) The Company attributes revenues from external customers to individual countries based upon the country in which the sale was originated.


	December 31,
	2022		2021
	(In thousands)
Property, plant and equipment, net(1):
United States	$	157,897	$	153,073
Switzerland	41,113		47,721
Germany	16,450		15,440
Mexico	6,605		4,085
Australia	3,528		3,002
Other foreign locations	11,148		11,792
Total	$	236,741	$	235,113

(1) As the Company does not allocate all long-lived assets (specifically intangible assets) to each individual country, evaluation of long-lived assets in total is impracticable.

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Selected Quarterly Data - (unaudited)

12 Months Ended

Dec. 31, 2022

Selected Quarterly Financial Information [Abstract]

Selected Quarterly Data - (unaudited)

Selected Quarterly Data—(unaudited)

Provided below is selected unaudited quarterly financial data for the years ended December 31, 2022 and 2021.


	Quarter Ended
	April 1, 2022		July 1, 2022(1)		September 30, 2022(2)		December 31, 2022(3)
	(In thousands, except per share data)
Net sales	$	375,457	$	395,117	$	383,814	$	408,713
Gross profit	205,900		215,906		215,824		231,753
Net income (loss) from continuing operations	(38,055)		120,651		(65,949)		(54,836)
Income (loss) from discontinued operations, net of taxes	54,356		(43,666)		(527)		16,267
Less: net income attributable to noncontrolling interest from continuing operations - net of taxes	267		130		136		34
Less: net income attributable to noncontrolling interest from discontinued operations - net of taxes	966		—		—		—
Net income (loss) attributable to Enovis Corporation	15,068		76,855		(66,612)		(38,603)

Net income (loss) per share - basic
Continuing operations	$	(0.76)	$	2.23	$	(1.22)	$	(1.01)
Discontinued operations	$	1.04	$	(0.81)	$	(0.01)	$	0.30
Consolidated operations	$	0.28	$	1.42	$	(1.23)	$	(0.71)

Net income (loss) per share - diluted
Continuing operations	$	(0.76)	$	2.21	$	(1.22)	$	(1.01)
Discontinued operations	$	1.04	$	(0.80)	$	(0.01)	$	0.30
Consolidated operations	$	0.28	$	1.41	$	(1.23)	$	(0.71)

(1) The results for the quarter ended July 1, 2022 include the impact of a $135.5 million gain on the Company’s investment in ESAB, an insurance settlement gain of $33.0 million and debt extinguishment charges of $20.1 million.

(2) The results for the quarter ended September 30, 2022 include the impact of a $63.1 million loss on the Company’s investment in ESAB and an $8.8 million gain on the Company’s investment in Insight.

(3) The results for the quarter ended December 31, 2022 include income tax expense of $52.3 million which includes tax impacts associated with transaction costs, a $30.3 million gain on the Company’s investment in ESAB, and an insurance settlement gain of $4.6 million.


	Quarter Ended
	April 2, 2021		July 2, 2021(1)		October 1, 2021		December 31, 2021
	(In thousands, except per share data)
Net sales	$	311,083	$	356,124	$	359,923	$	399,058
Gross profit	171,282		200,593		197,876		207,924
Net loss from continuing operations	(31,854)		(42,127)		(13,578)		(14,694)
Income from discontinued operations, net of taxes	52,094		71,829		40,435		14,173
Less: net income attributable to noncontrolling interest from continuing operations - net of taxes	290		355		191		216
Less: net income attributable to noncontrolling interest from discontinued operations - net of taxes	876		705		818		1,170
Net income (loss) attributable to Enovis Corporation	19,074		28,642		25,848		(1,907)

Net income (loss) per share - basic
Continuing operations	$	(0.69)	$	(0.83)	$	(0.26)	$	(0.28)
Discontinued operations	$	1.10	$	1.39	$	0.75	$	0.24
Consolidated operations	$	0.41	$	0.56	$	0.49	$	(0.04)

Net income (loss) per share - diluted
Continuing operations	$	(0.69)	$	(0.83)	$	(0.26)	$	(0.28)
Discontinued operations	$	1.10	$	1.39	$	0.75	$	0.24
Consolidated operations	$	0.40	$	0.56	$	0.49	$	(0.04)

(1) The results for the quarter ended July 2, 2021 include a $29.9 million impact from debt extinguishment charges.

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure


	Balance at Beginning of Period		Charged to Cost and Expense(1)		Charged to Other Accounts(2)		Write-Offs Write-Downs and Deductions		Foreign Currency Translation		Balance at End of Period
	(Dollars in thousands)
Year Ended December 31, 2022:
Allowance for credit losses	$	6,589	$	2,552	$	—	$	(963)	$	(213)	$	7,965
Valuation allowance for deferred tax assets	111,812		(12,126)		537		—		(6,681)		93,542
Year Ended December 31, 2021:
Allowance for credit losses	6,849		1,040		—		(1,245)		(55)		6,589
Valuation allowance for deferred tax assets	112,129		(4,496)		1,352		2,827		—		111,812
Year Ended December 31, 2020:
Allowance for credit losses	4,758		3,376		—		(1,718)		433		6,849
Valuation allowance for deferred tax assets	83,931		(20,327)		48,525		—		—		112,129

(1) Amounts charged to expense are net of recoveries for the respective period.

(2) Represent fair value adjustments related to acquisitions, as well as amounts charged to Goodwill and reclassifications to deferred tax asset accounts.

Summary of Significant Accounting Policies Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Company’s Consolidated Financial Statements are prepared in accordance with GAAP and include all majority-owned subsidiaries over which the Company exercises control and, when applicable, entities or joint ventures for which the Company has a controlling financial interest or is the primary beneficiary. When protective rights, substantive rights or other factors exist, further analysis is performed in order to determine whether or not there is a controlling financial interest. The Consolidated Financial Statements reflect the assets, liabilities, revenues and expenses of consolidated subsidiaries and the noncontrolling parties’ ownership share is presented as a noncontrolling interest. All significant intercompany accounts and transactions have been eliminated.
Equity Method Investments	Investments Investments where the Company has a significant influence but not a controlling interest, are accounted for using the equity method of accounting. Investments accounted for under the equity method are initially recorded at the amount of the Company’s initial investment and adjusted each period for the Company’s share of the investee’s income or loss and dividends paid. The Company accounts for equity investments that do not have a readily determinable fair value as cost method investments under the measurement alternative under GAAP to the extent such investments are not subject to consolidation or the equity method of accounting as described above. Under the measurement alternative, these financial instruments are carried at cost, less any impairment, adjusted for changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. The Company accounts for investments as a noncurrent asset within Other assets in the Consolidated Financial Statements as the Company does not have the intent and ability to sell such assets within the next twelve months.
Revenue Recognition	Revenue Recognition The Company provides a variety of products to its customers with revenue being measured as the amount of consideration we expect to receive in exchange for transferring such products. Revenue is recognized at a point in time when we transfer control of our off-the-shelf products to the customer, which generally occurs when title passes upon shipment. The Company’s contracts have a single performance obligation as the promise to transfer the individual goods is not separately identifiable from other promises in the contract and, therefore, not distinct. Revenue recognition and billing typically occur simultaneously for contracts recognized at a point in time. Therefore, we do not have material revenues in excess of customer billings or billings to customers in excess of recognized revenues. Refer to Note 6, “Revenue”, and Note 15, “Accrued Liabilities”, for additional information on the Company’s contract liability balances. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for transferring the goods or services. The nature of the Company’s contracts gives rise to certain types of variable consideration, including rebates and other discounts. The Company includes estimated amounts of variable consideration in the transaction price to the extent that it is probable there will not be a significant reversal of revenue. Estimates are based on historical or anticipated performance and represent the Company’s best judgment at the time. Any estimates are evaluated on a quarterly basis until the uncertainty is resolved. Additionally, the Company maintains provisions for estimated contractual allowances for reimbursement amounts from certain third-party payors based on negotiated contracts, historical experience for non-contracted payors, and the impact of new contract terms or modifications of existing arrangements with these customers. These allowances are recorded as a reduction to sales in the same period that the sales are recognized. The period of benefit for the Company’s incremental costs of obtaining a contract generally have less than a one-year duration; therefore, the Company applies the practical expedient available and expenses costs to obtain a contract when incurred.
Taxes Collected From Customers and Remitted To Governmental Authorities	Taxes Collected from Customers and Remitted to Governmental Authorities The Company collects various taxes and fees as an agent in connection with the sale of products and remits these amounts to the respective taxing authorities. These taxes and fees have been presented on a net basis in the Consolidated Statements of Operations and are recorded as a component of Accrued liabilities in the Consolidated Balance Sheets until remitted to the respective taxing authority.
Research and Development Expense	Research and Development Expense Research and development costs are expensed as incurred. Costs include salaries, wages, consulting and depreciation and maintenance of facilities and equipment utilized in research, development and engineering activities relating to developing new products, as well as enhancing existing products with the latest technology and designs, creating new applications for existing products, lowering manufacturing costs and redesigning existing products to increase efficiency, improve durability, enhance performance and usability. The Company also receives new product and invention ideas from orthopedic surgeons and other healthcare professionals and seeks to obtain rights to ideas it considers promising from a clinical and commercial perspective through entering into either assignment or licensing agreements. The Company maintains contractual relationships with orthopedic surgeons who assists in developing products and may also provide consulting services in connection with our products.
Interest Expense, Net	Interest Expense, NetInterest expense, net includes interest income of $0.2 million, $0.2 million and $0.3 million for the years ended December 31, 2022, 2021 and 2020, respectively, primarily associated with interest-bearing deposits of certain foreign subsidiaries.
Cash and Cash Equivalents, Restricted Cash	Cash and Cash Equivalents Cash and cash equivalents include all financial instruments purchased with an initial maturity of three months or less.
Trade Receivables	Trade Receivables Trade receivables are presented net of an allowance for credit losses. The Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments as of January 1, 2020. The estimate of current expected credit losses on trade receivables considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Estimated credit losses are reviewed periodically by management.
Inventories	Inventories Inventories, net include the cost of material, labor and overhead and are stated at the lower of cost or net realizable value. Cost is determined under various methods including average cost and first-in, first-out. The Company periodically reviews its quantities of inventories on hand and compares these amounts to the expected usage of each particular product. The Company records a charge to Cost of sales for any amounts required to reduce the carrying value of inventories to its net realizable value.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment, net is stated at historical cost, which includes the fair values of such assets acquired through acquisitions, and depreciated by the straight-line method over the estimated useful lives of the related assets. Repair and maintenance expenditures are expensed as incurred unless the repair extends the useful life of the asset.
Impairment of Goodwill and Indefinite-Lived Intangible Assets	Impairment of Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the costs in excess of the fair value of net assets acquired through acquisitions by the Company. The Company evaluates the recoverability of Goodwill annually or more frequently if an event occurs or circumstances change in the interim that would more likely than not reduce the fair value of the asset below its carrying amount. The annual impairment test date elected by the Company is the first day of its fourth quarter. Goodwill is considered to be impaired when the carrying value of a reporting unit or asset exceeds its fair value. The Company currently has two reporting units: Prevention & Recovery and Reconstructive. In the evaluation of Goodwill for impairment, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting entity is less than its carrying value. If the Company determines that it is more likely than not for a reporting unit’s fair value to be greater than its carrying value, a calculation of the fair value is not performed. If the Company determines that it is more likely than not for a reporting unit’s fair value to be less than its carrying value, a calculation of the reporting entity’s fair value is performed and compared to the carrying value of that entity. In certain instances, the Company may elect to forgo the qualitative assessment and proceed directly to the quantitative impairment test. If the carrying value of a reporting unit exceeds its fair value, Goodwill of that reporting unit is impaired and an impairment loss is recorded equal to the excess of the reporting unit’s carrying value over its fair value. When a quantitative impairment test is needed, the Company measures fair value of reporting units based on a present value of future discounted cash flows and a market valuation approach. The discounted cash flow models indicate the fair value of the reporting units based on the present value of the cash flows that the reporting units are expected to generate in the future. Significant estimates in the discounted cash flow models include the weighted average cost of capital, revenue growth rates, long-term rate of growth, profitability of the business, tax rates, and working capital effects. The market valuation approach indicates the fair value of the business based on a comparison against certain market information. Significant estimates in the market approach model include identifying appropriate peer companies, market multiples and assessing earnings before interest, income taxes, depreciation and amortization. For the year ended December 31, 2022, the Company performed a quantitative assessment of Goodwill for the Reconstructive and Prevention & Recovery reporting units, both of which indicated no impairment existed. The carrying amount of Goodwill of the Reconstructive and Prevention & Recovery reporting units for the year ended December 31, 2022 was $0.9 billion and $1.1 billion, respectively. The Company determined the fair value of the reporting units by equally weighting a discounted cash flow approach and market valuation approach, and the reporting unit’s fair value exceeded its carrying amount by approximately 8% and 9%, respectively. Determining the fair value of a reporting unit requires the application of judgment and involves the use of significant estimates and assumptions which can be affected by changes in business climate, economic conditions, the competitive environment and other factors. The Company bases these fair value estimates on assumptions the Company’s management believes to be reasonable but which are unpredictable and inherently uncertain. Future changes in the judgment, assumptions and estimates could result in significantly different estimates of fair value in the future. An increase in discount rates, a reduction in projected cash flows or a combination of the two could lead to a reduction in the estimated fair values, which may result in impairment charges that could materially affect the Company’s financial statements in any given year. For sensitivity analysis, the Company estimated the fair value of the Prevention & Recovery and Reconstructive reporting units if the Company reduced the long-term revenue growth rate by 25 basis points, and the resulting excess fair value over carrying value decreased by 120 and 130 basis points, respectively. Upon the Separation and the revision of the Company’s operating segments, the Company evaluated and concluded that it has two reporting units, Prevention & Recovery and Reconstructive. An allocation of goodwill was performed to the new reporting units. A quantitative impairment test of Goodwill for the Prevention & Recovery and Reconstructive reporting units was performed for the years ended December 31, 2022, which indicated no impairment existed.
Impairment of Long-Lived Assets Other than Goodwill and Indefinite-Lived Intangible Assets	Impairment of Long-Lived Assets Other than Goodwill and Indefinite-Lived Intangible Assets Intangible assets primarily represent acquired trade names, customer relationships, acquired technology and software license agreements. Intangible assets are being amortized on a straight-line basis over their estimated useful lives, which approximates the period of benefit, and ranges from three to twenty years. The Company assesses its long-lived assets and finite-lived intangible assets for impairment whenever facts and circumstances indicate that the carrying amounts may not be fully recoverable. To analyze recoverability, the Company projects undiscounted net future cash flows over the remaining lives of such assets. If these projected cash flows are less than the carrying amounts, an impairment loss equal to the difference between the carrying amount of the asset and its fair value would be recognized, resulting in a write-down of the assets with a corresponding charge to earnings. Assets held for sale are reported at the lower of the carrying amounts or fair value less cost to sell. Management determines fair value using the discounted cash flow method or other accepted valuation techniques. The Company did not record any asset impairment charges during the years ended December 31, 2022 and 2021. The Company recorded an asset impairment loss related to a facility closure totaling $1.6 million during the year ended December 31, 2020, as a component of Restructuring and other charges in the Consolidated Statements of Operations.
Derivatives	Derivatives The Company is subject to foreign currency risk associated with the translation of the net assets of foreign subsidiaries to United States (“U.S.”) dollars on a periodic basis. Derivative instruments are generally recognized on a gross basis in the Consolidated Balance Sheets in either Other current assets, Other assets, Accrued liabilities or Other liabilities depending upon their respective fair values and maturity dates. For all instruments designated as hedges, including net investment hedges and cash flow hedges, the Company formally documents the relationship between the hedging instrument and the hedged item, as well as the risk management objective and the strategy for using the hedging instrument. The Company assesses whether the relationship between the hedging instrument and the hedged item is highly effective at offsetting changes in the fair value both at inception of the hedging relationship and on an ongoing basis. For cash flow hedges and net investment hedges, unrealized gains and losses are recognized as a component of Accumulated other comprehensive loss in the Consolidated Balance Sheets to the extent that it is effective at offsetting the change in the fair value of the hedged item and realized gains and losses are recognized in the Consolidated Statements of Operations consistent with the underlying hedged instrument. The Company does not enter into derivative contracts for speculative purposes. See Note 17, “Financial Instruments and Fair Value Measurements” for additional information regarding the Company’s derivative instruments.
Income Taxes	Income Taxes Income taxes for the Company are accounted for under the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities in the Consolidated Financial Statements and their respective tax basis. Deferred income tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred income tax assets and liabilities are reported in Other assets and Other liabilities in the Company’s Consolidated Balance Sheets, respectively. The effect on deferred income tax assets and liabilities of a change in tax rates is generally recognized in Income tax expense (benefit) in the period that includes the enactment date. Global Intangible Low-Taxed Income (“GILTI”) is accounted for as a current tax expense in the year the tax is incurred. Valuation allowances are recorded if it is more likely than not that some portion of the deferred income tax assets will not be realized. In evaluating the need for a valuation allowance, the Company considers various factors, including the expected level of future taxable income and available tax planning strategies. Any changes in judgment about the valuation allowance are recorded through Income tax expense (benefit) and are based on changes in facts and circumstances regarding realizability of deferred tax assets. The Company must presume that an income tax position taken in a tax return will be examined by the relevant tax authority and determine whether it is more likely than not that the tax position will be sustained upon examination based upon the technical merits of the position. An income tax position that meets the more-likely-than-not recognition threshold is measured to determine the amount of benefit to recognize in the financial statements. The Company establishes a liability for unrecognized income tax benefits for income tax positions for which it is more likely than not that a tax position will not be sustained upon examination by the respective taxing authority to the extent such tax positions reduce the Company’s income tax liability. The Company recognizes interest and penalties related to unrecognized income tax benefits in Income tax expense (benefit) in the Consolidated Statements of Operations.
Foreign Currency Exchange Gains and Losses	Foreign Currency Exchange Gains and Losses The Company’s financial statements are presented in U.S. dollars. The functional currencies of the Company’s operating subsidiaries are generally the local currencies of the countries in which each subsidiary is located. Assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the balance sheet date. The amounts recorded in each year in foreign currency translation are net of income taxes to the extent the underlying equity balances in the entities are not deemed to be permanently reinvested. Revenues and expenses are translated at average rates of exchange in effect during the year. Transactions in foreign currencies are translated at the exchange rate in effect at the date of each transaction. Differences in exchange rates during the period between the date a transaction denominated in a foreign currency is consummated and the date on which it is either settled or translated for inclusion in the Consolidated Balance Sheets are recognized in Selling, general and administrative expense or Interest expense, net in the Consolidated Statements of Operations for that period. During the year ended December 31, 2022, the Company recognized net foreign currency transaction gain of $0.7 million in Interest expense, net and net foreign currency transaction loss of $0.6 million in Selling, general and administrative expense in the Consolidated Statements of Operations. During the year ended December 31, 2021, the Company recognized net foreign currency transaction loss of $0.5 million in Interest expense, net and net foreign currency transaction loss of $2.0 million in Selling, general and administrative expense in the Consolidated Statements of Operations. During the year ended December 31, 2020, the Company recognized net foreign currency transaction gain of $1.1 million in Interest expense, net and net foreign currency transaction loss of $1.6 million in Selling, general and administrative expense in the Consolidated Statements of Operations.
Debt Issuance Costs and Debt Discount	Debt Issuance Costs and Debt Discount Costs directly related to the placement of debt are capitalized and amortized to Interest expense primarily using the effective interest method over the term of the related obligation. Further, the carrying value of debt is reduced by an original issue discount, which is accreted to Interest expense, net using the effective interest method over the term of the related obligation. As of December 31, 2022, $4.5 million and $0.2 million of deferred issuance costs were included in Other assets and as a reduction of Long-term debt, respectively. As of December 31, 2021, $5.2 million and $7.1 million of deferred issuance costs were included in Other assets and as a reduction of Long-term debt, respectively. See Note 13, “Debt” for additional discussion regarding the Company’s borrowing arrangements.
Reclassifications	ReclassificationsCertain prior period amounts have been reclassified to conform to current year presentations. The operating results of ESAB, which was separated on April 4, 2022, are presented as discontinued operations in the Consolidated Statement of Operations for all periods presented and the net assets of ESAB and the other entities that were part of the Separation, including asbestos contingencies, are presented as discontinued operations on the Consolidated Balance Sheet as of December 31, 2021. See Note 4, “Discontinued Operations” for further information. Amortization of acquired intangibles and Research and development expense are now separately presented on our Consolidated Statements of Operations; these amounts were previously included in Selling, general and administrative expense. Note 6, “Revenue” and Note 19, “Segment Information” have been further disaggregated to conform to current year presentation
Use of Estimates	Use of Estimates The Company makes certain estimates and assumptions in preparing its Consolidated Financial Statements in accordance with U.S. GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses for the period presented. Actual results may differ from those estimates.
New Accounting Pronouncements	Recently Issued Accounting PronouncementsThe Company evaluates the adoption impacts of recently issued accounting pronouncements as well as material updates to previous pronouncements on the Company’s Consolidated Financial Statements. There were no new material accounting standards adopted in 2022 that impacted the Company.

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2022

Discontinued Operations [Abstract]

Carrying Value of Assets and Liabilities and the Financial Results and Other Details


	December 31, 2021
	(in thousands)
ASSETS
Cash and cash equivalents	$	39,118
Trade receivables, net	383,742
Inventories, net	420,062
Prepaid expenses	52,140
Other current assets	61,552
Total current assets	956,614
Property, plant and equipment, net	286,278

Goodwill	1,533,037
Other intangibles, net	521,434
Lease asset - right of use	107,944
Other assets	289,356
Total assets associated with discontinued operations(1)	$	3,694,663

LIABILITIES
Current portion of long-term debt	$	613
Accounts payable	348,965
Accrued liabilities	285,706
Total current liabilities	635,284
Long-term debt, less current portion	54
Non-current lease liability	88,777
Deferred tax liabilities	116,198
Other liabilities	368,533
Total liabilities associated with discontinued operations(1)	$	1,208,846


	Year Ended December 31,
	2022		2021		2020
	(in thousands)
Net sales	$	647,911	$	2,428,115	$	1,950,069
Cost of sales	423,580		1,592,132		1,265,604
Selling, general and administrative expense	125,529		477,040		434,360
Restructuring and other charges	5,304		18,954		21,632
Asbestos charges	3,194		15,578		10,619
Divestiture-related expenses(1)	46,684		29,668		9,040
Operating income	43,620		294,743		208,814
Interest expense(2)	8,035		43,481		51,438
Pension settlement gain	—		(11,208)		—
Income from discontinued operations before income taxes	35,585		262,470		157,376
Income tax expense	9,155		83,939		37,178
Income from discontinued operations, net of taxes	$	26,430	$	178,531	$	120,198

(1) Divestiture-related expenses include $45.0 million and $20.6 million for the years ended December 31, 2022 and 2021, respectively, for the Separation.

The following table presents further detail into the financial results of the former fabrication technology business:


	Year Ended December 31,
	2022	2021	2020
	(in thousands)
Depreciation	7,671	32,452	32,893
Amortization	9,012	41,954	41,798
Capital expenditures	5,903	35,584	40,138

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

ne of the Goodwill recognized is expected to be deductible for income tax purposes. Goodwill recognized for the Mathys acquisition is primarily attributable to synergies from cross-selling DJO products with the acquired customers and cost savings through supply chain management. The following table summarizes the final allocation of consideration related to the Mathys acquisition as of the acquisition date:


	July 28, 2021
	(In thousands)
Trade receivables	$	19,578
Inventories	76,824
Property, plant and equipment	58,465
Goodwill	92,438
Intangible assets	106,000
Accounts payable	(4,808)
Other assets and liabilities, net	(77,494)
Consideration, net of cash acquired	$	271,003

Schedule of Finite-Lived Intangible Assets

The following table summarizes Intangible assets acquired in the Mathys acquisition, excluding Goodwill, as of the acquisition date:


	Intangible		Amortization
	Asset		Period
	(In thousands)		(Years)

Acquired technology	$	54,000	12
Customer relationships	34,000		16
Trademarks	18,000		20
Intangible assets	$	106,000

Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Revenue by Major Customers by Reporting Segments

The Company disaggregates its revenue into the following segments:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Prevention & Recovery:
U.S. Bracing & Support	$	437,287	$	432,963	$	379,236
U.S. Other P&R	255,305		243,051		188,107
International P&R(1)	335,036		350,015		295,806
Total Prevention & Recovery	1,027,628		1,026,029		863,150

Reconstructive:
U.S. Reconstructive	370,173		323,187		245,215
International Reconstructive	165,300		76,972		12,335
Total Reconstructive	535,473		400,159		257,550

Total	$	1,563,101	$	1,426,188	$	1,120,700

(1) The year ended December 31, 2022 includes the unfavorable impact of $30.9 million of currency.

Financing Receivable, Allowance for Credit Loss

A summary of the activity in the Company’s allowance for credit losses included within Trade receivables in the Consolidated Balance Sheets is as follows:


	Year Ended December 31, 2022
	Balance at Beginning of Period		Charged to Expense, net		Write-Offs, Deductions and Other, net		Foreign Currency Translation		Balance at End of Period
	(In thousands)
Allowance for credit losses	$	6,589	$	2,552	$	(963)	$	(213)	$	7,965

Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Net income per share from continuing operations was computed as follows:


	Year Ended December 31,
	2022		2021		2020
	(In thousands, except share and per share data)
Computation of Net income (loss) per share from continuing operations - basic:
Net income (loss) from continuing operations attributable to Enovis Corporation(1)	$	(38,756)	$	(103,305)	$	(75,119)
Weighted-average shares of Common stock outstanding – basic	54,065,420		51,141,210		45,588,708
Net income (loss) per share from continuing operations – basic	$	(0.72)	$	(2.02)	$	(1.65)

Computation of Net income (loss) per share from continuing operations - diluted:
Net income (loss) from continuing operations attributable to Enovis Corporation(1)	$	(38,756)	$	(103,305)	$	(75,119)
Weighted-average shares of Common stock outstanding – basic	54,065,420		51,141,210		45,588,708
Net effect of potentially dilutive securities - stock options and restricted stock units	—		—		—
Weighted-average shares of Common stock outstanding – diluted	54,065,420		51,141,210		45,588,708
Net income (loss) per share from continuing operations – diluted	$	(0.72)	$	(2.02)	$	(1.65)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Loss from continuing operations before income taxes and Income tax expense (benefit) consisted of the following:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Income (loss) from continuing operations before income taxes:
Domestic operations	$	8,826	$	(129,903)	$	(136,455)
Foreign operations	(10,895)		8,122		17,449
	$	(2,069)	$	(121,781)	$	(119,006)
Income tax expense (benefit):
Current:
Federal	$	3,780	$	—	$	—
State	4,957		829		928
Foreign	3,405		9,862		6,521
	12,142		10,691		7,449
Deferred:
Domestic operations	73,370		(29,801)		(37,705)
Foreign operations	(49,392)		(418)		(14,323)
	23,978		(30,219)		(52,028)
	$	36,120	$	(19,528)	$	(44,579)

Schedule of Effective Income Tax Rate Reconciliation

The Company’s Income tax expense (benefit) from continuing operations differs from the amount that would be computed by applying the U.S. federal statutory rate as follows:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Taxes calculated at the U.S. federal statutory rate	$	(435)	$	(25,574)	$	(24,991)
State taxes	10,878		(4,473)		(439)
Effect of tax rates on international operations	(5,106)		681		(5,246)

Changes in valuation allowance	(12,126)		(4,496)		(20,327)
Changes in tax reserves	1,724		(2,332)		2,168



Research and development tax credits	(2,599)		(2,392)		(2,248)

Net items not deductible in an international jurisdiction	1,859		772		40
U.S. tax on international operations	4,565		14,865		1,873
Transaction related costs	27,699		—		—
Withholding taxes	495		556		854
Non-deductible employee compensation	9,013		2,562		4,450

Other	153		303		(713)
Income tax expense (benefit)	$	36,120	$	(19,528)	$	(44,579)

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities included in continuing operations are as follows:


	December 31,
	2022		2021
	(In thousands)
Deferred tax assets:
Expenses currently not deductible	$	37,159	$	42,297
Net operating loss and interest expense limitation carryforward	162,713		285,009
Tax credit carryforward	37,883		26,960
Depreciation and amortization	28,659		1,058
Capitalized R&D expenditures	29,579		23,281
Non-current lease liability	17,815		21,066
Other	2,171		1,680
Valuation allowance	(93,542)		(111,812)
Deferred tax assets, net	222,437		289,539
Deferred tax liabilities:
Depreciation and amortization	(237,374)		(269,929)


Lease asset - right of use	(17,380)		(20,702)
Total deferred tax liabilities	(254,754)		(290,631)
Total deferred tax liabilities, net	$	(32,317)	$	(1,092)

Summary of Income Tax Contingencies


	(In thousands)




















Balance, January 1, 2020	$	55,480

Addition for tax positions taken in prior periods	5,911
Addition for tax positions taken in the current period	1,980
Reductions related to settlements with taxing authorities	—
Reductions resulting from a lapse of applicable statute of limitations	(5,689)
Other, including the impact of foreign currency translation	332
Balance, December 31, 2020	58,014
Acquisitions and divestitures	4,450
Addition for tax positions taken in prior periods	228
Addition for tax positions taken in the current period	3,653
Reductions related to settlements with taxing authorities	(425)
Reductions resulting from a lapse of applicable statute of limitations	(3,239)
Other, including the impact of foreign currency translation	(734)
Balance, December 31, 2021	61,947
Acquisitions and divestitures	(23,250)

Addition for tax positions taken in the current period	462

Reductions resulting from a lapse of applicable statute of limitations	(244)
Other, including the impact of foreign currency translation	(616)
Balance, December 31, 2022	$	38,299

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table summarizes the activity in Goodwill, by segment during the years ended December 31, 2022 and 2021:


	Prevention & Recovery		Reconstructive		Total
	(In thousands)




Balance, January 1, 2021	$	1,102,461	$	658,805	$	1,761,266
Goodwill attributable to acquisitions(1)	2,826		187,255		190,081

Impact of foreign currency translation	(16,754)		(335)		(17,089)
Balance, December 31, 2021	1,088,533		845,725		1,934,258
Goodwill attributable to acquisitions(1)	—		61,241		61,241

Impact of foreign currency translation	(10,897)		(1,014)		(11,911)
Balance, December 31, 2022	$	1,077,636	$	905,952	$	1,983,588

(1) Includes purchase accounting adjustments associated with acquisitions discussed in Note 5, “Acquisitions”.

Schedule Of Intangible Assets

The following table summarizes the Company’s Intangible assets, excluding Goodwill:


	December 31,
	2022				2021
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
	(In thousands)


Definite-Lived Intangible Assets
Acquired customer relationships	$	528,489	$	(215,962)	$	531,838	$	(158,229)
Acquired technology	553,284		(134,967)		504,226		(91,322)
Acquired trade names	414,801		(74,644)		405,087		(53,932)
Software	72,371		(39,202)		43,378		(27,442)
Other intangible assets	9,917		(3,360)		1,699		(1,275)
	$	1,578,862	$	(468,135)	$	1,486,228	$	(332,200)

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The Company’s expected annual amortization expense for intangible assets for the next five years is as follows:


	December 31, 2022
	(In thousands)
2023	$	127,187
2024	126,176
2025	125,081
2026	120,011
2027	111,936

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


		December 31,
	Depreciable Life	2022		2021
	(In years)	(In thousands)
Land	n/a	$	5,935	$	6,075
Buildings and improvements	5-40	36,548		33,170
Machinery and equipment	3-15	375,441		325,342
		417,924		364,587
Accumulated depreciation		(181,183)		(129,474)
		$	236,741	$	235,113

Inventories, Net (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventories, Net

Inventories, net consisted of the following:


	December 31,
	2022		2021
	(In thousands)
Raw materials	$	100,038	$	66,824
Work in process	28,164		29,506
Finished goods	357,143		298,450
	485,345		394,780
Less: allowance for excess, slow-moving and obsolete inventory	(58,702)		(38,547)
	$	426,643	$	356,233

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Future Minimum Lease Payments


	December 31, 2022
	(In thousands)
Future lease payments by year:
2023	$	22,342
2024	15,364
2025	10,724
2026	7,866
2027	4,658
Thereafter	14,991
Total	75,945
Less: present value discount	(6,522)
Present value of lease liabilities	$	69,423

Weighted-average remaining lease term (in years):
Operating leases	5.87
Weighted-average discount rate:
Operating leases	3.8		%

Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consisted of the following:


	December 31,
	2022		2021
	(In thousands)
Term loan	$	219,279	$	782,435
Euro senior notes	—		395,552
TEU amortizing notes	—		6,501
2026 notes	—		297,906
Revolving credit facilities and other	40,000		603,932
Total debt	259,279		2,086,326
Less: current portion	(219,279)		(7,701)
Long-term debt	$	40,000	$	2,078,625

Schedule of Maturities of Long-term Debt

The contractual maturities of the Company’s debt are as follows:


	December 31, 2022
	(In thousands)
2023	$	219,468
2024	—
2025	—
2026	—
2027	40,000
Thereafter	—
Total contractual maturities	259,468
Debt discount	(189)
Total debt	$	259,279

Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss


	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension And Other Post-Retirement Benefit Cost		Foreign Currency Translation Adjustment		Unrealized Gain (Loss) On Hedging Activities		Total
	(In thousands)
















Balance at January 1, 2020	$	(106,500)	$	(421,889)	$	44,544	$	(483,845)
Other comprehensive income (loss) before reclassifications:
Net actuarial loss	(8,169)		—		—		(8,169)
Foreign currency translation adjustment	(1,849)		57,623		3,378		59,152
Gain on long-term intra-entity foreign currency transactions	—		3,289		—		3,289
Loss on net investment hedges	—		—		(26,268)		(26,268)
Other comprehensive income (loss) before reclassifications	(10,018)		60,912		(22,890)		28,004
Amounts reclassified from Accumulated other comprehensive loss(1)	3,735		—		—		3,735
Net Other comprehensive income (loss)	(6,283)		60,912		(22,890)		31,739
Balance at December 31, 2020	(112,783)		(360,977)		21,654		(452,106)
Other comprehensive income (loss) before reclassifications:

Net actuarial gain	20,866		—		—		20,866
Foreign currency translation adjustment	1,339		(146,409)		(230)		(145,300)

Gain on long-term intra-entity foreign currency transactions	—		32,261		—		32,261
Gain on net investment hedges	—		—		23,247		23,247

Other comprehensive income (loss) before reclassifications:	22,205		(114,148)		23,017		(68,926)
Amounts reclassified from Accumulated other comprehensive loss(1)	5,019		—		—		5,019

Net Other comprehensive income (loss)	27,224		(114,148)		23,017		(63,907)

Balance at December 31, 2021	(85,559)		(475,125)		44,671		(516,013)
Other comprehensive income (loss) before reclassifications:
Net actuarial gain	12,207		—		—		12,207
Foreign currency translation adjustment	470		(37,953)		—		(37,483)
Loss on long-term intra-entity foreign currency transactions	—		(21,779)		—		(21,779)
Gain on net investment hedges	—		—		9,028		9,028
Other comprehensive income (loss) before reclassifications:	12,677		(59,732)		9,028		(38,027)
Amounts reclassified from Accumulated other comprehensive loss(1)	629		—		—		629
Net Other comprehensive income (loss)	13,306		(59,732)		9,028		(37,398)
Distribution of ESAB Corporation	84,460		469,220		(53,699)		499,981
Balance at December 31, 2022	$	12,207	$	(65,637)	$	—	$	(53,430)

(1) Included in the computation of net periodic benefit cost. See Note 16, “Defined Benefit Plans” for additional details.

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

The Company’s Consolidated Statements of Operations reflect the following amounts related to stock-based compensation:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Stock-based compensation expense(1)	$	38,955	$	35,350	$	28,911
Deferred tax benefit	1,236		2,658		1,804

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table shows the weighted-average assumptions used to calculate the fair value of stock option awards using the Black-Scholes option pricing model, as well as the weighted-average fair value of options granted:


	Year Ended December 31,
	2022			2021			2020
Expected period that options will be outstanding (in years)	4.77			4.50			4.62
Interest rate (based on U.S. Treasury yields at the time of grant)	2.10		%	0.61		%	1.09		%
Volatility	42.90		%	43.10		%	37.76		%
Dividend yield	—			—			—
Weighted-average fair value of options granted(1)	$	27.48		$	27.64		$	20.22

(1) The weighted-average fair value of options granted in 2021 and 2020 have been adjusted by a factor of 1.7 due to the Separation and reverse stock split.

Share-based Compensation, Stock Options, Activity

Stock option activity is as follows:


	Number of Options(1)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (In years)	Aggregate Intrinsic Value(2) (In thousands)
Outstanding at January 1, 2020	2,749,870	$	53.66
Granted	363,740	51.78
Exercised	(74,435)	46.98
Forfeited and expired	(334,105)	77.77
Outstanding at December 31, 2020	2,705,070	50.61
Granted	331,375	65.08
Exercised	(712,810)	48.91
Forfeited and expired	(170,529)	97.46
Outstanding at December 31, 2021	2,153,106	49.70
Granted	154,552	70.23
Exercised	(127,261)	45.69
Forfeited and expired	(407,069)	72.53
Adjustment due to ESAB Separation(3)	(425,651)	57.64
Outstanding at December 31, 2022	1,347,677	59.96		3.68	$	3,721
Vested or expected to vest at December 31, 2022	1,341,299	59.90		3.67	3,721
Exercisable at December 31, 2022	1,009,553	56.07		3.12	3,628

(1) The outstanding options as of December 31, 2021 and the option activity prior to December 31, 2021 have been adjusted by a factor of 1.7 due to the Separation and reverse stock split.

(3) Reflects the cancellation of outstanding options held by ESAB employees as of April 4, 2022, which were replaced with ESAB options issued by ESAB Corp. as part of the Separation.

Schedule of Nonvested Share Activity

The activity in the Company’s PRSUs and RSUs is as follows:


	PRSUs			RSUs
	Number of Units(1)	Weighted- Average Grant-Date Fair Value		Number of Units(1)	Weighted- Average Grant-Date Fair Value
Nonvested at January 1, 2020	436,103	$	52.48	383,836	$	45.54
Granted	84,110	86.55		323,526	59.27
Vested	(60,958)	50.83		(165,192)	42.74
Forfeited and expired	(29,019)	47.48		(52,516)	49.84
Nonvested at December 31, 2020	430,236	59.70		489,654	55.06
Granted	146,322	77.84		464,279	78.84
Vested	(113,991)	52.75		(248,405)	51.71
Forfeited and expired	(96,492)	48.30		(60,311)	63.95
Nonvested at December 31, 2021	366,075	72.13		645,217	69.44
Granted	192,921	47.89		303,752	67.58
Vested	(230,310)	49.69		(243,485)	64.11
Forfeited and expired	(35,516)	46.07		(70,914)	69.22
Adjustment due to ESAB Separation(2)	(32,373)	46.07		(131,291)	71.52
Nonvested at December 31, 2022	260,797	77.34		503,279	71.33

(1) The outstanding awards as of December 31, 2021 and the award activity prior to December 31, 2021, have been adjusted by a factor of 1.7 due to the Separation and reverse stock split.

(2) Reflects the cancellation of unvested awards held by ESAB employees as of April 4, 2022, which were replaced with ESAB awards issued by ESAB as part of the Separation.

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Accrued Liabilities [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities in the Consolidated Balance Sheets consisted of the following:


	December 31,
	2022		2021
	(In thousands)
Accrued compensation and related benefits	$	51,384	$	66,290
Accrued taxes	13,676		12,970

Accrued freight	3,955		5,299
Contingent consideration - current portion	8,812		1,816
Warranty liability- current portion	2,804		2,503
Accrued restructuring liability - current portion	1,090		2,170
Accrued third-party commissions	24,958		22,362
Customer advances and billings in excess of costs incurred	3,560		9,203
Lease liability - current portion	24,281		21,936
Accrued interest	2,921		11,066
Accrued rebates	13,715		12,584
Accrued professional fees	15,670		13,711
Accrued royalties	5,777		5,045
Other	37,689		38,436
	$	210,292	$	225,391

Schedule of Restructuring Reserve by Type of Cost


	Year Ended December 31, 2022
	Balance at Beginning of Period		Provisions		Payments		Balance at End of Period(4)
	(In thousands)
Restructuring and other charges:

Termination benefits(1)	$	2,470	$	3,944	$	(5,441)	$	973
Facility closure costs and other(2)	358		12,864		(13,104)		118
Total	$	2,828	16,808		$	(18,545)	$	1,091
Non-cash charges(3)			2,152
Total Provisions(5)			$	18,960

(1) Includes severance and other termination benefits, including outplacement services.

(2) Includes the cost of relocating associates, relocating equipment, lease termination expense, and other costs in connection with the closure and optimization of facilities and product lines.

(4) As of December 31, 2022, all of the restructuring liability was included in Accrued liabilities.

(5) $9.6 million and $9.4 million of the Company’s total provisions is related to the Prevention & Recovery and Reconstructive segments, respectively.


	Year Ended December 31, 2021
	Balance at Beginning of Period		Provisions		Payments		Foreign Currency Translation		Balance at End of Period(4)
	(In thousands)
Restructuring and other charges:

Termination benefits(1)	$	1,884	$	4,036	$	(3,441)	$	(9)	$	2,470
Facility closure costs(2)	297		4,627		(4,566)		—		358
Total	$	2,181	8,663		$	(8,007)	$	(9)	$	2,828
Non-cash charges(3)			5,251
Total Provisions(5)			$	13,914

(1) Includes severance and other termination benefits, including outplacement services.

(2) Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure and optimization of facilities and product lines.

(5) $11.5 million and $2.4 million of the Company’s total provisions is related to the Prevention & Recovery and Reconstructive segments, respectively.

Defined Benefit Plans Defined Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations


	Pension Benefits				Other Post-Retirement Benefits
	Year Ended December 31,				Year Ended December 31,
	2022		2021		2022		2021
	(In thousands)
Change in benefit obligation:
Projected benefit obligation, beginning of year	$	455,067	$	379,295	$	12,078	$	13,344
Acquisitions(1)	—		101,312		—		—
Service cost	4,703		3,719		4		14
Interest cost	1,821		4,642		61		189
Actuarial gain(2)	(21,586)		(11,171)		—		(650)
Foreign exchange effect	(4,844)		(6,569)		(7)		(7)
Benefits paid	(5,724)		(22,073)		(231)		(812)
Divestitures(3)	(337,045)		—		(11,905)		—
Other	2,683		5,912		—		—
Projected benefit obligation, end of year	$	95,075	$	455,067	$	—	$	12,078
Accumulated benefit obligation, end of year	$	91,527	$	447,275	$	—	$	12,078
Change in plan assets:
Fair value of plan assets, beginning of year	$	366,820	$	267,254	$	—	$	—
Acquisitions(1)	—		72,263		—		—
Actual return on plan assets	(4,193)		27,554		—		—
Employer contribution	3,416		6,531		231		812
Foreign exchange effect	(2,599)		(1,374)		—		—
Benefits paid	(5,724)		(22,073)		(231)		(812)
Divestitures(3)	(282,534)		—		—		—
Settlements(4)	—		11,272		—		—
Other	2,510		5,393		—		—
Fair value of plan assets, end of year	$	77,696	$	366,820	$	—	$	—
Funded status, end of year	$	(17,379)	$	(88,247)	$	—	$	(12,078)
Amounts recognized on the Consolidated Balance Sheet at December 31:
Non-current assets(5)	$	—	$	7,733	$	—	$	—

Current liabilities(6)	(174)		(3,564)		—		(923)
Non-current liabilities(6)	(17,205)		(92,416)		—		(11,155)


Total	$	(17,379)	$	(88,247)	$	—	$	(12,078)

(1) Acquisitions for 2021 relate to our acquisition of Mathys. See Note 5, “Acquisitions”, for further information.

(2) The actuarial gains for 2022 and 2021 are primarily due to the increases in discount rates in most markets.

(3) Divestitures are related to the Separation.

(5) As of December 31, 2021, all of the non-current plan assets are associated with discontinued operations.


	Foreign Pension Benefits
	Year Ended December 31,
	2022		2021
	(In thousands)
Change in benefit obligation:
Projected benefit obligation, beginning of year	$	252,739	$	157,195
Acquisitions(1)	—		101,312
Service cost	4,703		3,719
Interest cost	897		1,741
Actuarial loss (gain)(2)	(21,586)		(3,449)
Foreign exchange effect	(4,844)		(6,569)
Benefits paid	(1,854)		(7,122)
Divestitures(3)	(137,663)		—
Other	2,683		5,912
Projected benefit obligation, end of year	$	95,075	$	252,739
Accumulated benefit obligation, end of year	$	91,527	$	244,946
Change in plan assets:
Fair value of plan assets, beginning of year	$	165,561	$	73,114
Acquisitions(1)	—		72,263
Actual return on plan assets	(6,557)		5,665
Employer contribution	3,378		6,350
Foreign exchange effect	(2,599)		(1,374)
Benefits paid	(1,854)		(7,122)
Divestitures(3)	(82,743)		—
Settlements(4)	—		11,272
Other	2,510		5,393
Fair value of plan assets, end of year	$	77,696	$	165,561
Funded status, end of year	$	(17,379)	$	(87,178)

(1) Acquisitions in the year ended December 31, 2021 relate to our acquisition of Mathys. See Note 5, “Acquisitions”, for further information.

(2) The actuarial gains for 2022 and 2021 are primarily due to the increases in discount rates in all markets.

(3) Divestitures are related to the Separation.

(4) Settlements includes $11.2 million classified as Pension settlement gain included in discontinued operations for the year ended December 31, 2021.

Schedule of Expected Benefit Payments

The following benefit payments are expected to be paid during each respective fiscal year:


	Pension Benefits
	All Plans
	(In thousands)
2023	$	4,710
2024	5,120
2025	5,838
2026	5,096
2027	5,055
2028 - 2031	28,098

Schedule of Allocation of Plan Assets

The following are the actual and target allocation percentages for the Company’s pension plan assets:


	Actual Asset Allocation December 31,				Target
	2022		2021		Allocation
U.S. Plans:(1)
Equity securities:
U.S.			45	%
International			15	%
Fixed income			38	%
Other			—	%
Cash and cash equivalents			1	%
Foreign Plans:
Equity securities	35	%	28	%	25%-43%
Fixed income securities	27	%	27	%	24%-43%
Cash and cash equivalents	2	%	2	%	0%-10%
Other	36	%	43	%	25%-45%

(1) As of December 31, 2022, all U.S. plans have been divested as a result of the Separation.

Schedule of Pension Plan Assets For Each Fair Value Hierarchy Level


	December 31, 2022
	Measured at Net Asset Value		Level One		Level Two		Level Three		Total
	(In thousands)










Foreign Plans:
Cash and cash equivalents	$	—	$	1,250	$	—	$	—	$	1,250
Equity securities	—		27,074		—		—		27,074
Non-U.S. government and corporate bonds	—		21,224		—		—		21,224
Other(1)	—		—		28,148		—		28,148
	$	—	$	49,548	$	28,148	$	—	$	77,696

(1) Represents diversified portfolio funds, reinsurance contracts and money market funds.


	December 31, 2021
	Measured at Net Asset Value(1)		Level One		Level Two		Level Three		Total
	(In thousands)
U.S. Plans:
Cash and cash equivalents(2)	$	—	$	1,699	$	—	$	—	$	1,699
Equity securities:
U.S. large cap	52,810		—		—		—		52,810
U.S. small/mid cap	21,983		15,501		—		—		37,484
International	31,094		—		—		—		31,094
Fixed income mutual funds:
U.S. government and corporate	77,084		—		—		—		77,084
Other(3)	—		1,088		—		—		1,088
Foreign Plans:
Cash and cash equivalents	—		3,029		—		—		3,029
Equity securities	—		46,475		—		—		46,475
Non-U.S. government and corporate bonds	—		45,480		—		—		45,480
Other(3)	—		—		70,577		—		70,577
	$	182,971	$	113,272	$	70,577	$	—	$	366,820

(2) The weighted-average interest crediting rates received in Cash and cash equivalents of U.S plans are immaterial relative to total plan assets.

(3) Represents diversified portfolio funds, reinsurance contracts and money market funds.

Schedule of Net Benefit Costs


	Pension Benefits						Other Post-Retirement Benefits
	Year Ended December 31,						Year Ended December 31,
	2022		2021		2020		2022		2021		2020
	(In thousands)
Components of Net Periodic Benefit (Income) Cost:
Service cost	$	4,703	$	3,719	$	1,933	$	4	$	14	$	8
Interest cost	1,821		4,642		7,454		61		189		313
Amortization	1,187		5,953		4,960		(36)		(109)		(231)
Settlement (gain) loss	—		(11,157)		99		—		—		—
Other	(20)		2		143		—		—		—
Expected return on plan assets	(4,789)		(12,819)		(12,773)		—		—		—
Net periodic benefit (income) cost	$	2,902	$	(9,660)	$	1,816	$	29	$	94	$	90
Change in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Gain) Loss:
Current year net actuarial (gain) loss	$	(14,728)	$	(27,385)	$	10,379	$	—	$	(651)	$	1,143
Current year prior service cost	221		—		74		—		—		—
Less amounts included in net periodic benefit (income) cost:
Amortization of net (gain) loss	(1,135)		(5,899)		(4,914)		36		109		231
Settlement/divestiture/other gain	—		(51)		(177)		—		—		—
Amortization of prior service cost	(52)		(65)		(46)		—		—		—
Total recognized in Other comprehensive (gain) loss	$	(15,694)	$	(33,400)	$	5,316	$	36	$	(542)	$	1,374

The following table sets forth the components of Net periodic benefit (income) cost and Other comprehensive (gain) loss of the foreign defined benefit pension plans, included in the table above:


	Foreign Pension Benefits
	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Components of Net Periodic Benefit (Income) Cost:
Service cost	$	4,703	$	3,719	$	1,933
Interest cost	897		1,741		2,315
Amortization	273		1,223		747
Settlement (gain) loss	—		(11,157)		99
Other	(20)		2		143
Expected return on plan assets	(2,425)		(3,015)		(2,397)
Net periodic benefit (income) cost	$	3,428	$	(7,487)	$	2,840
Change in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Gain) Loss:
Current year net actuarial (gain) loss	$	(14,728)	$	(7,577)	$	6,226
Current year prior service cost	221		—		74
Less amounts included in net periodic benefit (income) cost:
Amortization of net (gain) loss	(221)		(1,169)		(701)
Settlement/divestiture/other gain	—		(51)		(177)
Amortization of prior service cost	(52)		(65)		(46)
Total recognized in Other comprehensive (gain) loss	$	(14,780)	$	(8,862)	$	5,376

Schedule of Net Periodic Benefit Cost Not yet Recognized


	Pension Benefits				Other Post-Retirement Benefits
	December 31,				December 31,
	2022		2021		2021
	(In thousands)
Net actuarial loss (gain)	$	(16,620)	$	72,612	$	(2,573)
Prior service cost	488		412		—
Total	$	(16,132)	$	73,024	$	(2,573)

Schedule of Assumptions Used

The key economic assumptions used in the measurement of the Company’s pension and other post-retirement benefit obligations are as follows:


	Pension Benefits				Other Post-Retirement Benefits
	December 31,				December 31,
	2022		2021		2022		2021
Weighted-average discount rate:
All plans	2.2	%	1.7	%	—	%	2.6	%
Foreign plans	2.2	%	1.2	%	—	%	—	%
Weighted-average rate of increase in compensation levels for active foreign plans	1.5	%	0.9	%	—	%	—	%

The key economic assumptions used in the computation of Net periodic benefit (income) cost are as follows:


	Pension Benefits						Other Post-Retirement Benefits
	Year Ended December 31,						Year Ended December 31,
	2022		2021		2020		2022		2021		2020
Weighted-average discount rate:
All plans	1.7	%	1.7	%	2.5	%	2.6	%	2.1	%	3.0	%
Foreign plans	1.2	%	1.4	%	1.9	%	—	%	—	%	—	%
Weighted-average expected return on plan assets:
All plans	4.3	%	5.2	%	5.7	%	—	%	—	%	—	%
Foreign plans	2.8	%	3.6	%	4.1	%	—	%	—	%	—	%
Weighted-average rate of increase in compensation levels for active foreign plans	1.7	%	0.6	%	0.8	%	—	%	—	%	—	%

Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

A summary of the Company’s assets and liabilities that are measured at fair value on a recurring basis for each fair value hierarchy level for the periods presented is as follows:


	December 31, 2022
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:






Deferred compensation plans	$	—	$	10,324	$	—	$	10,324
	$	—	$	10,324	$	—	$	10,324

Liabilities:

Foreign currency contracts - not designated as hedges	$	—	$	35	$	—	$	35


Deferred compensation plans	—		10,324		—		10,324
Contingent consideration	—		—		22,808		22,808

	$	—	$	10,359	$	22,808	$	33,167


	December 31, 2021
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:



Foreign currency contracts - not designated as hedges	$	—	$	5	$	—	$	5


Deferred compensation plans	—		11,213		—		11,213
	$	—	$	11,218	$	—	$	11,218

Liabilities:

Foreign currency contracts - not designated as hedges	$	—	$	260	$	—	$	260


Deferred compensation plans	—		11,213		—		11,213

Contingent consideration	—		—		5,000		5,000
	$	—	$	11,473	$	5,000	$	16,473

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The Company recognized the following in its Consolidated Financial Statements related to its derivative instruments:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Contracts Designated as Hedges:








Unrealized gain (loss) on net investment hedges(1)	$	—	$	23,247	$	(26,268)
Contracts Not Designated in a Hedge Relationship:


Foreign Currency Contracts:
Unrealized gain (loss)	(35)		(255)		—
Realized gain (loss)	(577)		(104)		—

(1) The unrealized gain (loss) on net investment hedges is attributable to the change in valuation of Euro denominated debt. In 2022, the Euro denominated debt was extinguished upon the Separation.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The Company’s segment results were as follows:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Net sales:
Prevention & Recovery	$	1,027,628	$	1,026,029	$	863,150
Reconstructive	535,473		400,159		257,550
Total Net sales	$	1,563,101	$	1,426,188	$	1,120,700

Segment Adjusted EBITDA(1):
Prevention & Recovery	$	141,344	$	133,500	$	112,562
Reconstructive	94,726		72,496		48,973
Total Adjusted EBITDA(1)	$	236,070	$	205,996	$	161,535

Depreciation, amortization and impairment
Prevention & Recovery	$	104,458	$	97,898	$	108,174
Reconstructive	98,507		89,091		59,729
Total depreciation, amortization and impairment	$	202,965	$	186,989	$	167,903

Capital expenditures:
Prevention & Recovery	$	25,140	$	19,514	$	31,953
Reconstructive	74,407		49,077		42,671
Total capital expenditures	$	99,547	$	68,591	$	74,624

(1) The following is a reconciliation of Income from continuing operations before income taxes to Adjusted EBITDA:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Loss from continuing operations before income taxes (GAAP)	$	(2,069)	$	(121,781)	$	(119,006)
Restructuring and other charges(1)	18,960		13,914		23,314
MDR and other costs(2)	16,709		7,949		6,900
Strategic transaction costs	61,024		23,448		2,800
Stock-based compensation	31,493		25,737		22,500
Depreciation and other amortization	76,664		70,069		64,597
Amortization of acquired intangibles	126,301		116,920		103,306
Insurance settlement gain(3)	(36,705)		—		—
Inventory step-up	12,802		10,758		4,300
Interest expense, net	24,052		29,112		52,824
Debt extinguishment charges	20,396		29,870		—
Gain on investment in ESAB Corporation	(102,669)		—		—
Gain on cost basis investment	(8,800)		—		—
Other income	(2,088)		—		—
Adjusted EBITDA (non-GAAP)	$	236,070	$	205,996	$	161,535

(3) Insurance settlement gain is related to the 2019 acquisition of DJO.


	December 31,
	2022		2021(1)
	(In thousands)
Total assets:
Prevention & Recovery	$	2,470,917	$	2,966,646
Reconstructive	1,802,331		1,854,603
Total	$	4,273,248	$	4,821,249

(1) Represents assets from continuing operations including allocation of centrally managed cash and cash equivalents. Total assets related to discontinued operations was $3.7 billion.

Revenue from External Customers by Products and Services

The detail of the Company’s operations by geography is as follows:


	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Net sales by origin(1):
United States	$	1,062,765	$	1,030,440	$	839,972
Foreign locations	500,336		395,748		280,728
Total	$	1,563,101	$	1,426,188	$	1,120,700

(1) The Company attributes revenues from external customers to individual countries based upon the country in which the sale was originated.

Long-Lived Assets, by Geographical Areas


	December 31,
	2022		2021
	(In thousands)
Property, plant and equipment, net(1):
United States	$	157,897	$	153,073
Switzerland	41,113		47,721
Germany	16,450		15,440
Mexico	6,605		4,085
Australia	3,528		3,002
Other foreign locations	11,148		11,792
Total	$	236,741	$	235,113

(1) As the Company does not allocate all long-lived assets (specifically intangible assets) to each individual country, evaluation of long-lived assets in total is impracticable.

Selected Quarterly Data - (unaudited) (Tables)

12 Months Ended

Dec. 31, 2022

Selected Quarterly Financial Information [Abstract]

Schedule of Quarterly Financial Information

Provided below is selected unaudited quarterly financial data for the years ended December 31, 2022 and 2021.


	Quarter Ended
	April 1, 2022		July 1, 2022(1)		September 30, 2022(2)		December 31, 2022(3)
	(In thousands, except per share data)
Net sales	$	375,457	$	395,117	$	383,814	$	408,713
Gross profit	205,900		215,906		215,824		231,753
Net income (loss) from continuing operations	(38,055)		120,651		(65,949)		(54,836)
Income (loss) from discontinued operations, net of taxes	54,356		(43,666)		(527)		16,267
Less: net income attributable to noncontrolling interest from continuing operations - net of taxes	267		130		136		34
Less: net income attributable to noncontrolling interest from discontinued operations - net of taxes	966		—		—		—
Net income (loss) attributable to Enovis Corporation	15,068		76,855		(66,612)		(38,603)

Net income (loss) per share - basic
Continuing operations	$	(0.76)	$	2.23	$	(1.22)	$	(1.01)
Discontinued operations	$	1.04	$	(0.81)	$	(0.01)	$	0.30
Consolidated operations	$	0.28	$	1.42	$	(1.23)	$	(0.71)

Net income (loss) per share - diluted
Continuing operations	$	(0.76)	$	2.21	$	(1.22)	$	(1.01)
Discontinued operations	$	1.04	$	(0.80)	$	(0.01)	$	0.30
Consolidated operations	$	0.28	$	1.41	$	(1.23)	$	(0.71)


	Quarter Ended
	April 2, 2021		July 2, 2021(1)		October 1, 2021		December 31, 2021
	(In thousands, except per share data)
Net sales	$	311,083	$	356,124	$	359,923	$	399,058
Gross profit	171,282		200,593		197,876		207,924
Net loss from continuing operations	(31,854)		(42,127)		(13,578)		(14,694)
Income from discontinued operations, net of taxes	52,094		71,829		40,435		14,173
Less: net income attributable to noncontrolling interest from continuing operations - net of taxes	290		355		191		216
Less: net income attributable to noncontrolling interest from discontinued operations - net of taxes	876		705		818		1,170
Net income (loss) attributable to Enovis Corporation	19,074		28,642		25,848		(1,907)

Net income (loss) per share - basic
Continuing operations	$	(0.69)	$	(0.83)	$	(0.26)	$	(0.28)
Discontinued operations	$	1.10	$	1.39	$	0.75	$	0.24
Consolidated operations	$	0.41	$	0.56	$	0.49	$	(0.04)

Net income (loss) per share - diluted
Continuing operations	$	(0.69)	$	(0.83)	$	(0.26)	$	(0.28)
Discontinued operations	$	1.10	$	1.39	$	0.75	$	0.24
Consolidated operations	$	0.40	$	0.56	$	0.49	$	(0.04)

(1) The results for the quarter ended July 2, 2021 include a $29.9 million impact from debt extinguishment charges.

Organization and Nature of Operations (Details) $ in Thousands, € in Millions					12 Months Ended
	Nov. 18, 2022 USD ($)	Apr. 07, 2022 USD ($)	Apr. 06, 2022	Apr. 04, 2022 USD ($)	Dec. 31, 2022 USD ($) segment	Apr. 07, 2022 EUR (€)	Mar. 22, 2022 shares	Dec. 31, 2021 USD ($)	Apr. 24, 2021 USD ($)	Apr. 19, 2017 EUR (€)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments \| segment					2
Debt Instrument [Line Items]
Cash distribution				$ 1,200,000
Borrowings on term loan					$ 259,468
Cash on hand				52,300
Term loan					259,279			$ 2,086,326
Senior Notes
Debt Instrument [Line Items]
Principal amount \| €										€ 350
Term loan
Debt Instrument [Line Items]
Borrowings on term loan				450,000
Extinguishment of debt	$ 230,500
Term loan	$ 450,000				$ 219,279			$ 782,435
Credit Facility
Debt Instrument [Line Items]
Repayments of outstanding debt				1,400,000
2026 Notes
Debt Instrument [Line Items]
Principal amount		$ 300,000
Redemption price, percentage of principal amount redeemed		103.188%
Stated interest rate		6.375%				6.375%
Repurchased of outstanding principal									$ 100,000
2026 Notes \| Senior Notes
Debt Instrument [Line Items]
Repayments of outstanding debt				$ 302,800
Redemption price, percentage of principal amount redeemed				103.188%
Stated interest rate		6.375%				6.375%
2025 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed		100.813%
Stated interest rate		3.25%				3.25%
Repurchased of outstanding principal \| €						€ 350
ESAB Corporation
Debt Instrument [Line Items]
Principal amount				$ 1,200,000
Common Stock \| ESAB Corporation
Debt Instrument [Line Items]
Business, separation, pro-rata distribution, of outstanding common stock to shareholders, percentage				90.00%
Number of shares of common stock distributed to shareholders for every three shares owned \| shares							1
Business separation, ownership percentage after transaction				10.00%
Reverse stock split, conversion ratio			0.3333
Divestiture of remaining ownership interest exchanged for outstandingdebt	10.00%

Summary of Significant Accounting Policies Accounting Policies - Investments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Schedule of Investments [Line Items]
Equity securities without readily determinable fair value	$ 16,500
HT Bioimaging Ltd
Schedule of Investments [Line Items]
Equity securities without readily determinable fair value	$ 10,000

Summary of Significant Accounting Policies Accounting Policies- Additional (Details)		12 Months Ended
	Apr. 04, 2022 acquisition	Dec. 31, 2022 USD ($) acquisition	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Number of reporting units \| acquisition	2	2
Goodwill impairment		$ 0
Goodwill		1,983,588,000	$ 1,934,258,000	$ 1,761,266,000
Asset impairment loss				1,600,000
Reconstructive
Goodwill		$ 905,952,000	845,725,000	658,805,000
Reporting unit, fair value exceeds carrying amount, percentage		8.00%
Decrease in fair value of carrying value		1.20%
Reconstructive \| Measurement Input, Long-term Revenue Growth Rate
Reporting unit, measurement input		0.0025
Prevention and Recovery
Goodwill		$ 1,077,636,000	1,088,533,000	1,102,461,000
Reporting unit, fair value exceeds carrying amount, percentage		9.00%
Decrease in fair value of carrying value		1.30%
Prevention and Recovery \| Measurement Input, Long-term Revenue Growth Rate
Reporting unit, measurement input		0.0025
Other Assets
Deferred issuance costs		$ 4,500,000	5,200,000
Long-term Debt
Deferred issuance costs		200,000	7,100,000
Interest expense
Interest income, other		200,000	200,000	300,000
Foreign currency transaction (loss) gain		700,000	500,000	1,100,000
Selling, general and administrative expense
Foreign currency transaction (loss) gain		$ (600,000)	$ (2,000,000)	$ (1,600,000)
Finite Lived Intangible Assets, Excluding Customer Relationships \| Minimum
Intangible asset, useful life		3 years
Finite Lived Intangible Assets, Excluding Customer Relationships \| Maximum
Intangible asset, useful life		20 years

Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
	Apr. 04, 2022	Dec. 31, 2022	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Dec. 31, 2021	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 22, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash distribution	$ 1,200,000
Net loss related to asbestos contingencies and 2017 divestiture										$ 3,200	$ 15,600	$ 10,600
Less: net income attributable to noncontrolling interest from discontinued operations - net of taxes		$ 0	$ 0	$ 0	$ 966	$ 1,170	$ 818	$ 705	$ 876	966	3,569	2,454
Cash used in operating activities, discontinued operations										27,000	(224,000)	(302,000)
Cash used in investing activities, discontinued operations										(3,000)	(35,000)	(35,000)
ESAB Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Less: net income attributable to noncontrolling interest from discontinued operations - net of taxes										1,000	3,600	2,500
ESAB Corporation \| Common Stock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business, separation, pro-rata distribution, of outstanding common stock to shareholders, percentage	90.00%
Number of shares of common stock distributed to shareholders for every three shares owned													1
Fabrication Technology \| ESAB Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business, separation, pro-rata distribution, of outstanding common stock to shareholders, percentage	90.00%
Business separation, pro-rata distribution, outstanding common stock to shareholders (in shares)	60,034,311
Cash distribution	$ 1,200,000
Air and Gas Handling Business \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Divestiture-related expenses										$ 1,700	$ 9,100	$ 9,000

Discontinued Operations - Carrying Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Total current assets associated with discontinued operations	$ 0	$ 956,614
Total assets associated with discontinued operations		3,700,000
LIABILITIES
Total current liabilities associated with discontinued operations	$ 0	635,284
Fabrication Technology
ASSETS
Cash and cash equivalents		39,118
Trade receivables, net		383,742
Inventories, net		420,062
Prepaid expenses		52,140
Other current assets		61,552
Total current assets associated with discontinued operations		956,614
Property, plant and equipment, net		286,278
Goodwill		1,533,037
Other intangibles, net		521,434
Lease asset - right of use		107,944
Other assets		289,356
Total assets associated with discontinued operations		3,694,663
LIABILITIES
Current portion of long-term debt		613
Accounts payable		348,965
Accrued liabilities		285,706
Total current liabilities associated with discontinued operations		635,284
Long-term debt, less current portion		54
Non-current lease liability		88,777
Deferred tax liabilities		116,198
Other liabilities		368,533
Total liabilities associated with discontinued operation		$ 1,208,846

Discontinued Operations - Financial Results of the Fabrication Business (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Dec. 31, 2021	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disposal Group, Including Discontinued Operations, Statement of Income
Income from discontinued operations, net of taxes	$ 16,267	$ (527)	$ (43,666)	$ 54,356	$ 14,173	$ 40,435	$ 71,829	$ 52,094	$ 26,430	$ 178,531	$ 120,198
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Depreciation									7,671	32,452	32,893
Amortization									9,012	41,954	41,798
Capital expenditures									5,903	35,584	40,138
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Disposal Group, Including Discontinued Operations, Statement of Income
Net sales									647,911	2,428,115	1,950,069
Cost of sales									423,580	1,592,132	1,265,604
Selling, general and administrative expense									125,529	477,040	434,360
Restructuring and other charges									5,304	18,954	21,632
Asbestos charges									3,194	15,578	10,619
Divestiture-related expenses									46,684	29,668	9,040
Operating income									43,620	294,743	208,814
Interest expense(2)									8,035	43,481	51,438
Pension settlement gain									0	(11,208)	0
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax, Total									35,585	262,470	157,376
Income tax expense									9,155	83,939	37,178
Income from discontinued operations, net of taxes									26,430	178,531	$ 120,198
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Fabrication Technology
Disposal Group, Including Discontinued Operations, Statement of Income
Divestiture-related expenses									45,000	$ 20,600
Interest expense(2)									$ 1,200,000

Acquisitions - Narrative (Details ) $ in Thousands				3 Months Ended		6 Months Ended	12 Months Ended
Acquisitions - Narrative (Details ) $ in Thousands	May 06, 2022 USD ($)	Jul. 28, 2021 USD ($)	Apr. 23, 2021 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2020 USD ($)	Jul. 01, 2022 USD ($) acquisition	Dec. 31, 2022 USD ($) acquisition	Dec. 31, 2021 USD ($) acquisition	Dec. 31, 2020 USD ($)
Business Acquisition [Line Items]
Number of businesses acquired \| acquisition							2
Number of investments \| acquisition							1	3
Capital expenditures							$ 99,547	$ 68,591	$ 74,624
Payments to acquire investments								$ 16,800
Percentage of consolidated revenues							1.00%	12.00%
Cash consideration, net							$ 73,684	$ 223,272	69,846
Contingent consideration							22,808	5,000
Goodwill					$ 1,761,266		1,983,588	1,934,258	1,761,266
Equity securities without readily determinable fair value							16,500
Goodwill attributable to acquisition							$ 61,241	190,081
Insight
Business Acquisition [Line Items]
Payments to acquire investments				$ 16,600
Mathys AG Bettlach
Business Acquisition [Line Items]
Goodwill		$ 92,438
Intangible assets acquired		106,000
Goodwill acquired, deductible for income tax purposes		0
Cash acquired from acquisition		14,700
Knee Innovation Company PTY Limited
Business Acquisition [Line Items]
Equity interests acquired	100.00%
Cash consideration, net	$ 14,300
Contingent consideration	12,800
Goodwill	16,300
Intangible assets acquired	$ 18,200
Insight
Business Acquisition [Line Items]
Equity interests acquired				53.70%
Cash consideration, net				$ 34,200
Contingent consideration				5,000
Equity interest, percentage							99.50%
Noncontrolling interest							$ 300
Goodwill				36,300
Intangible assets acquired				38,400
Gain on acquisition				$ 8,800
Prevention and Recovery
Business Acquisition [Line Items]
Capital expenditures							25,140	19,514	31,953
Payments to acquire investments							10,000
Goodwill					1,102,461		1,077,636	1,088,533	1,102,461
Total consideration					$ 39,600
Net working capital, percentage of consideration paid					10.00%
Intangible assets acquired, percentage of consideration paid					69.00%
Goodwill attributable to acquisition							0	2,826
Reconstructive
Business Acquisition [Line Items]
Capital expenditures							74,407	49,077	42,671
Cash consideration, net								201,600
Goodwill					$ 658,805		905,952	845,725	658,805
Goodwill attributable to acquisition							61,241	$ 187,255
Reconstructive \| 2021 Acquisitions
Business Acquisition [Line Items]
Number of businesses acquired \| acquisition								5
Reconstructive \| Mathys AG Bettlach
Business Acquisition [Line Items]
Consideration transferred, equity interests		$ 285,700
Reconstructive \| Trilliant Surgical and MedShape Inc.
Business Acquisition [Line Items]
Number of businesses acquired \| acquisition						2
Percentage of consolidated revenues						3.00%
Cash consideration, net			$ 204,100
Goodwill acquired, deductible for income tax purposes						$ 30,000
Net working capital, percentage of consideration paid			7.30%
Intangible assets acquired, percentage of consideration paid			36.50%
Reconstructive \| 2020 Acquisitions
Business Acquisition [Line Items]
Number of businesses acquired \| acquisition								5
Total consideration							$ 67,500
Goodwill acquired, deductible for income tax purposes					$ 15,900				15,900
Goodwill attributable to acquisition									$ 21,400
2022 Asset Acquisitions
Business Acquisition [Line Items]
Number of asset acquisitions \| acquisition							4
2022 Asset Acquisitions \| Prevention and Recovery
Business Acquisition [Line Items]
Number of asset acquisitions \| acquisition							4
Asset acquisition, consideration							$ 22,300
Capital expenditures							12,600
Asset acquisition, contingent consideration							$ 9,600

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Acquisitions and Investments - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jul. 28, 2022	Dec. 31, 2021	Jul. 28, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 1,983,588		$ 1,934,258		$ 1,761,266
Mathys AG Bettlach
Business Acquisition [Line Items]
Trade receivables				$ 19,578
Inventories				76,824
Property, plant and equipment				58,465
Goodwill				92,438
Intangible assets				106,000
Accounts payable				(4,808)
Other assets and liabilities, net				$ (77,494)
Consideration, net of cash acquired		$ 271,003

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Acquisitions - Summary of Intangible Assets Acquired (Details) - Mathys AG Bettlach $ in Thousands	Jul. 28, 2021 USD ($)
Business Acquisition [Line Items]
Intangible assets	$ 106,000
Acquired technology
Business Acquisition [Line Items]
Intangible assets	$ 54,000
Amortization period (years)	12 years
Customer relationships
Business Acquisition [Line Items]
Intangible assets	$ 34,000
Amortization period (years)	16 years
Trademarks
Business Acquisition [Line Items]
Intangible assets	$ 18,000
Amortization period (years)	20 years

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Period Type:

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Dec. 31, 2021	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 408,713	$ 383,814	$ 395,117	$ 375,457	$ 399,058	$ 359,923	$ 356,124	$ 311,083	$ 1,563,101	$ 1,426,188	$ 1,120,700
United States
Disaggregation of Revenue [Line Items]
Net sales									1,062,765	1,030,440	839,972
Prevention and Recovery
Disaggregation of Revenue [Line Items]
Net sales									1,027,628	1,026,029	863,150
Prevention and Recovery \| Bracing and Support \| United States
Disaggregation of Revenue [Line Items]
Net sales									437,287	432,963	379,236
Prevention and Recovery \| Other Prevention and Recovery \| United States
Disaggregation of Revenue [Line Items]
Net sales									255,305	243,051	188,107
Prevention and Recovery \| Prevention and Recovery \| International
Disaggregation of Revenue [Line Items]
Net sales									335,036	350,015	295,806
Foreign currency impact									(30,900)
Reconstructive
Disaggregation of Revenue [Line Items]
Net sales									535,473	400,159	257,550
Reconstructive \| Surgical \| United States
Disaggregation of Revenue [Line Items]
Net sales									370,173	323,187	245,215
Reconstructive \| Surgical \| International
Disaggregation of Revenue [Line Items]
Net sales									$ 165,300	$ 76,972	$ 12,335

Revenue - Allowance for Credit Losses (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Balance at Beginning of Period	$ 6,589
Charged to Expense, net	2,552
Write-Offs, Deductions and Other, net	(963)
Foreign Currency Translation	(213)
Balance at End of Period	$ 7,965

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Dec. 31, 2021	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income from continuing operations attributable to Colfax corporations									$ (38,756)	$ (103,305)	$ (75,119)
Weighted-average shares of common stock outstanding - basic (in shares)									54,065,420	51,141,210	45,588,708
Net income per share from continuing operations - basic (in usd per share)	$ (1.01)	$ (1.22)	$ 2.23	$ (0.76)	$ (0.28)	$ (0.26)	$ (0.83)	$ (0.69)	$ (0.72)	$ (2.02)	$ (1.65)
Net effect of potentially dilutive securities - stock options, restricted stock units and tangible equity units (in shares)									0	0	0
Weighted - average shares of common stock outstanding - diluted (in shares)									54,065,420	51,141,210	45,588,708
Net income per share from continuing operations - diluted (in usd per share)	$ (1.01)	$ (1.22)	$ 2.21	$ (0.76)	$ (0.28)	$ (0.26)	$ (0.83)	$ (0.69)	$ (0.72)	$ (2.02)	$ (1.65)
Less: net income attributable to noncontrolling interest from continuing operations - net of taxes	$ 34	$ 136	$ 130	$ 267	$ 216	$ 191	$ 355	$ 290	$ 567	$ 1,052	$ 692

- Definition

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Net Income Per Share - Narrative (Details)		1 Months Ended	12 Months Ended
Net Income Per Share - Narrative (Details)	Apr. 06, 2022	Jan. 31, 2022 shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share
TEU threshold for conversion (in shares)			6,100,000	4,000.0000
Shares related to issuance of tangible equity units - diluted (in shares)					300,000
Stock-based compensation awards, anti-dilutive (in shares)			1,100,000	300,000	1,400,000
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share
Conversion of stock, shares converted (in shares)		1,700,000
Conversion of tangible equity units into common stock (in shares)			1,691,845	4,441,488
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share
Impact of shares, as adjusted for reverse stock split (in shares)				6,100,000	6,100,000
Conversion of tangible equity units into common stock (in shares)				4,400,000
Common Stock \| ESAB Corporation
Antidilutive Securities Excluded from Computation of Earnings Per Share
Reverse stock split, conversion ratio	0.3333

Income Taxes - Domestic and Foreign (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income (loss) from continuing operations before income taxes:
Domestic operations		$ 8,826	$ (129,903)	$ (136,455)
Foreign operations		(10,895)	8,122	17,449
Loss from continuing operations before income taxes		(2,069)	(121,781)	(119,006)
Current:
Federal		3,780	0	0
State		4,957	829	928
Foreign		3,405	9,862	6,521
Current income tax		12,142	10,691	7,449
Deferred:
Domestic operations		73,370	(29,801)	(37,705)
Foreign operations		(49,392)	(418)	(14,323)
Deferred income tax		23,978	(30,219)	(52,028)
Income tax expense (benefit)	$ 52,300	$ 36,120	$ (19,528)	$ (44,579)

Income Taxes - Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Taxes calculated at the U.S. federal statutory rate		$ (435)	$ (25,574)	$ (24,991)
State taxes		10,878	(4,473)	(439)
Effect of tax rates on international operations		(5,106)	681	(5,246)
Changes in valuation allowance		(12,126)	(4,496)	(20,327)
Changes in tax reserves		1,724	(2,332)	2,168
Research and development tax credits		(2,599)	(2,392)	(2,248)
Net items not deductible in an international jurisdiction		1,859	772	40
U.S. tax on international operations		4,565	14,865	1,873
Transaction related costs		27,699	0	0
Withholding taxes		495	556	854
Non-deductible employee compensation		9,013	2,562	4,450
Other		153	303	(713)
Income tax expense (benefit)	$ 52,300	$ 36,120	$ (19,528)	$ (44,579)

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Expenses currently not deductible	$ 37,159	$ 42,297
Net operating loss and interest expense limitation carryforward	162,713	285,009
Tax credit carryforward	37,883	26,960
Depreciation and amortization	28,659	1,058
Capitalized R&D expenditures	29,579	23,281
Non-current lease liability	17,815	21,066
Other	2,171	1,680
Valuation allowance	(93,542)	(111,812)
Deferred tax assets, net	222,437	289,539
Depreciation and amortization	(237,374)	(269,929)
Lease asset - right of use	(17,380)	(20,702)
Total deferred tax liabilities	(254,754)	(290,631)
Total deferred tax liabilities, net	$ (32,317)	$ (1,092)

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Examination [Line Items]
Deferred tax assets, valuation allowance	$ 93,542	$ 111,812
Operating loss carryforwards, domestic	55,700
Operating loss carryforwards, foreign	16,600
Foreign tax credit carryforwards	24,300
Research and development tax credit	9,300
Undistributed earnings of foreign subsidiaries	50,900
Deferred tax liability, increase (decrease)	(200)
Unrecognized tax benefits, income tax penalties and interest expense	1,100	600	$ 700
Unrecognized tax benefits, income tax penalties and interest accrued	4,200	$ 7,500
Unrecognized tax benefits, estimated reduction of income tax expense	1,700
Unrecognized tax benefits that would impact effective tax rate	26,900
Domestic Tax Authority
Income Tax Examination [Line Items]
Net operating loss carryforward, subject to expiration	31,200
Net operating loss carryforwards, not subject to expiration	26,300
Foreign Tax Authority
Income Tax Examination [Line Items]
Operating loss carryforwards	32,900
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset
Income Tax Examination [Line Items]
Valuation allowance, charged to cost and expense	(12,100)
Valuation allowance, foreign currency translation	$ (6,700)

Income Taxes - Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Beginning Balance	$ 61,947	$ 58,014	$ 55,480
Acquisitions and divestitures		4,450
Acquisitions and divestitures	(23,250)
Addition for tax positions taken in prior periods	462	228	5,911
Addition for tax positions taken in the current period		3,653	1,980
Reductions related to settlements with taxing authorities		(425)	0
Reductions resulting from a lapse of applicable statute of limitations	(244)	(3,239)	(5,689)
Other, including the impact of foreign currency translation	(616)	(734)	332
Ending Balance	$ 38,299	$ 61,947	$ 58,014

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Balance beginning of period	$ 1,934,258	$ 1,761,266
Goodwill attributable to acquisition	61,241	190,081
Impact of foreign currency translation	(11,911)	(17,089)
Balance end of period	1,983,588	1,934,258
Prevention and Recovery
Goodwill [Line Items]
Balance beginning of period	1,088,533	1,102,461
Goodwill attributable to acquisition	0	2,826
Impact of foreign currency translation	(10,897)	(16,754)
Balance end of period	1,077,636	1,088,533
Reconstructive
Goodwill [Line Items]
Balance beginning of period	845,725	658,805
Goodwill attributable to acquisition	61,241	187,255
Impact of foreign currency translation	(1,014)	(335)
Balance end of period	$ 905,952	$ 845,725

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Intangible Assets Schedule [Line Items]
Accumulated Amortization	$ (468,135)	$ (332,200)
Gross Carrying Amount	1,578,862	1,486,228
Customer relationships
Intangible Assets Schedule [Line Items]
Accumulated Amortization	(215,962)	(158,229)
Gross Carrying Amount	528,489	531,838
Acquired technology
Intangible Assets Schedule [Line Items]
Accumulated Amortization	(134,967)	(91,322)
Gross Carrying Amount	553,284	504,226
Acquired trade names
Intangible Assets Schedule [Line Items]
Accumulated Amortization	(74,644)	(53,932)
Gross Carrying Amount	414,801	405,087
Software
Intangible Assets Schedule [Line Items]
Accumulated Amortization	(39,202)	(27,442)
Gross Carrying Amount	72,371	43,378
Other intangible assets
Intangible Assets Schedule [Line Items]
Accumulated Amortization	(3,360)	(1,275)
Gross Carrying Amount	$ 9,917	$ 1,699

Goodwill and Intangible Assets - Amortization Expense Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of acquired intangibles	$ 126,301	$ 116,920	$ 103,306
Amortization of intangible assets	$ 133,700	$ 125,000	$ 115,900

Goodwill and Intangible Assets - Annual Amortization Expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 127,187
2024	126,176
2025	125,081
2026	120,011
2027	$ 111,936

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 417,924	$ 364,587
Accumulated depreciation	(181,183)	(129,474)
Property, Plant and Equipment, Net, Total	236,741	235,113
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,935	6,075
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 36,548	33,170
Buildings and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Depreciable Life	5 years
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Depreciable Life	40 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 375,441	$ 325,342
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Depreciable Life	3 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Depreciable Life	15 years

Property, Plant and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Depreciation	$ 69.2	$ 62.0	$ 52.0

Inventories, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 100,038	$ 66,824
Work in process	28,164	29,506
Finished goods	357,143	298,450
Inventory, gross	485,345	394,780
Less: allowance for excess, slow-moving and obsolete inventory	(58,702)	(38,547)
Inventory, Net, Total	$ 426,643	$ 356,233

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease expense	$ 23,000	$ 20,200	$ 22,300
Future lease payments by year
2021	22,342
2022	15,364
2023	10,724
2024	7,866
2025	4,658
Thereafter	14,991
Total	75,945
Less: present value discount	(6,522)
Present value of lease liabilities	$ 69,423
Weighted-average remaining lease term (in years):
Operating leases	5 years 10 months 13 days
Weighted-average discount rate:
Operating leases	3.80%

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease expense	$ 23,000	$ 20,200	$ 22,300

Debt -Components (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Nov. 18, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 259,279		$ 2,086,326
Less: current portion	(219,279)		(7,701)
Long-term debt	40,000		2,078,625
Term loan
Debt Instrument [Line Items]
Total debt	219,279	$ 450,000	782,435
Euro senior notes
Debt Instrument [Line Items]
Total debt	0		395,552
TEU amortizing notes
Debt Instrument [Line Items]
Total debt	0		6,501
2026 notes
Debt Instrument [Line Items]
Total debt	0		297,906
Revolving credit facilities and other
Debt Instrument [Line Items]
Total debt	$ 40,000		$ 603,932

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Debt - Narrative (Details) $ / shares in Units, $ in Thousands, € in Millions					3 Months Ended			12 Months Ended
	Nov. 18, 2022 USD ($) shares	Apr. 07, 2022 USD ($)	Apr. 04, 2022 USD ($)	Apr. 24, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares	Jul. 01, 2022 USD ($)	Jul. 02, 2021 USD ($)	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Apr. 07, 2022 EUR (€)	Jan. 11, 2019	Apr. 19, 2017 EUR (€)
Debt Instrument [Line Items]
Debt extinguishment charges						$ 20,100	$ 29,900	$ (20,396)	$ (29,870)	$ 0
Debt conversion, shares issued \| shares	6,003,431
Remaining borrowing capacity								$ 860,000
Interest rate of tangible equity notes								6.50%				5.75%
TEU initial principal amount \| $ / shares								$ 15.6099
TEU quarterly cash installment (in usd per share) \| $ / shares					$ 1.4375
Partial payment on TEU								$ 6,500	25,000	23,400
Repayment of senior debt								300,000	$ 700,000	$ 0
Letters of credit outstanding								$ 7,100
Amended Credit Facility
Debt Instrument [Line Items]
Weighted-average interest rate								5.71%
Deferred financing fees								$ 4,700
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 15,000
Senior Notes
Debt Instrument [Line Items]
Debt extinguishment charges						$ 20,100
Debt redemption premiums					$ 12,700
Write off of debt issuance costs					$ 7,400
Principal amount \| €													€ 350
Euro bond coupon rate								3.25%
2026 Notes
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed				106.375%
Bilateral agreements
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 30,000
Outstanding borrowings								$ 0
Enovis Credit Agreement
Debt Instrument [Line Items]
Swing-line loan sub facility			$ 50,000
Enovis Credit Agreement \| Revolving credit facilities and other
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 900,000
Debt maximum total leverage ratio			4.00
Interest coverate ratio			3.00
Enovis Credit Agreement \| Revolving credit facilities and other \| Debt Covenant Period One
Debt Instrument [Line Items]
Step down maximum total leverage ratio			3.75
Enovis Credit Agreement \| Revolving credit facilities and other \| Debt Covenant Period Two
Debt Instrument [Line Items]
Step down maximum total leverage ratio			3.50
Enovis Credit Agreement \| Term loan
Debt Instrument [Line Items]
Principal amount	$ 450,000		$ 450,000
Debt converted amount	$ 230,500
2024 Senior Notes
Debt Instrument [Line Items]
Stated interest rate				6.00%
Repurchased of outstanding principal				$ 600,000
2026 Notes
Debt Instrument [Line Items]
Stated interest rate		6.375%									6.375%
Principal amount		$ 300,000
Redemption price, percentage of principal amount redeemed		103.188%
Repurchased of outstanding principal				$ 100,000
2026 Notes \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate		6.375%									6.375%
Redemption price, percentage of principal amount redeemed			103.188%
2024 and 2026 Senior Notes
Debt Instrument [Line Items]
Debt extinguishment charges							(29,900)
Redemption price, percentage of principal amount redeemed				103.00%
Repayment of senior debt				$ 724,400
Call premium							$ 24,400
2025 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate		3.25%									3.25%
Redemption price, percentage of principal amount redeemed		100.813%
Repurchased of outstanding principal \| €											€ 350

Debt (Schedule of Debt Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2023	$ 219,468
2024	0
2025	0
2026	0
2027	40,000
Thereafter	0
Total contractual maturities	259,468
Debt discount	(189)
Total debt	$ 259,279	$ 2,086,326

Equity - Narrative (Details) - USD ($)				12 Months Ended
Equity - Narrative (Details) - USD ($)	Jun. 07, 2022	Jul. 28, 2021	Mar. 19, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 19, 2018	Jun. 06, 2018	Feb. 12, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount				$ 100,000,000				$ 100,000,000	$ 100,000,000
Stock repurchased during period (in shares)							2,149,808
Stock repurchased during period, value							$ 200,000,000
Other comprehensive income, portion attributable to noncontrolling interest increase (decrease)				2,100,000	$ 1,300,000	$ 2,600,000
Unrecognized stock-based compensation expense				$ 29,700,000
Unrecognized compensation cost, period for recognition				1 year 1 month 6 days
Intrinsic value of awards				$ 37,200,000	48,600,000	11,500,000
Intrinsic value of awards				1,500,000	21,400,000	1,100,000
Fair value of options vested in period				7,400,000	9,000,000	11,900,000
Fair value of vested shares				$ 32,100,000	$ 18,300,000	$ 9,700,000
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance vesting period				3 years
Percentage of performance metrics achieved				100.00%	100.00%	70.00%
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized (in shares)	745,000
Omnibus Incentive Plan \| Option \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum term				10 years
2018 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount										$ 100,000,000
Stock repurchased during period, value				$ 0	$ 0
Mathys AG Bettlach
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued for business acquisition (in shares)		2,200,000
Underwritten Public Offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, number of shares issued (in shares)			5,400,000
Consideration received			$ 711,300,000

- Details

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Equity - Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ (516,013)
Gain (loss) on net investment hedges	9,028	$ 23,247	$ (26,268)
Other comprehensive income (loss) before reclassifications		(68,926)	28,004
Distribution of ESAB Corporation	(1,203,324)
Ending balance	(53,430)	(516,013)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(516,013)	(452,106)	(483,845)
Net actuarial (gain)	12,207	20,866	(8,169)
Foreign currency translation adjustment	(37,483)	(145,300)	59,152
Gain on long-term intra-entity foreign currency transactions	(21,779)	32,261	3,289
Gain (loss) on net investment hedges	9,028	23,247	(26,268)
Other comprehensive income (loss) before reclassifications	(38,027)
Amounts reclassified from Accumulated other comprehensive loss	629	5,019	3,735
Net Other comprehensive income (loss)	(37,398)	(63,907)	31,739
Distribution of ESAB Corporation	499,981
Ending balance	(53,430)	(516,013)	(452,106)
Net Unrecognized Pension And Other Post-Retirement Benefit Cost
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(85,559)	(112,783)	(106,500)
Net actuarial (gain)	12,207	20,866	(8,169)
Foreign currency translation adjustment	470	1,339	(1,849)
Other comprehensive income (loss) before reclassifications	12,677	22,205	(10,018)
Amounts reclassified from Accumulated other comprehensive loss	629	5,019	3,735
Net Other comprehensive income (loss)	13,306	27,224	(6,283)
Distribution of ESAB Corporation	84,460
Ending balance	12,207	(85,559)	(112,783)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(475,125)	(360,977)	(421,889)
Foreign currency translation adjustment	(37,953)	(146,409)	57,623
Gain on long-term intra-entity foreign currency transactions	(21,779)	32,261	3,289
Other comprehensive income (loss) before reclassifications	(59,732)	(114,148)	60,912
Net Other comprehensive income (loss)	(59,732)	(114,148)	60,912
Distribution of ESAB Corporation	469,220
Ending balance	(65,637)	(475,125)	(360,977)
Unrealized Gain (Loss) On Hedging Activities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	44,671	21,654	44,544
Foreign currency translation adjustment		(230)	3,378
Other comprehensive income (loss) before reclassifications	9,028	23,017	(22,890)
Net Other comprehensive income (loss)	9,028	23,017	(22,890)
Distribution of ESAB Corporation	$ (53,699)
Ending balance		$ 44,671	$ 21,654

Equity - Stock-based compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 38,955	$ 35,350	$ 28,911
Deferred tax benefit	1,236	2,658	1,804
Discontinued Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,100	$ 7,700	$ 6,600

Equity - Option Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Expected period that options will be outstanding (in years)	4 years 9 months 7 days	4 years 6 months	4 years 7 months 13 days
Interest rate (based on U.S. Treasury yields at the time of grant)	2.10%	0.61%	1.09%
Volatility	42.90%	43.10%	37.76%
Dividend yield	0.00%	0.00%	0.00%
Weighted-average fair value of options granted (in usd per share)	$ 27.48	$ 27.64	$ 20.22
Adjustment factor		1.7	1.7

Equity - Option Award Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, beginning balance (in shares) \| shares	2,153,106	2,705,070	2,749,870
Granted (in shares) \| shares	154,552	331,375	363,740
Exercised (in shares) \| shares	(127,261)	(712,810)	(74,435)
Forfeited and expired (in shares) \| shares	(407,069)	(170,529)	(334,105)
Adjustment due to ESAB Separation (in shares) \| shares	425,651
Options outstanding, ending balance (in shares) \| shares	1,347,677	2,153,106	2,705,070
Vested or expected to vest (in shares) \| shares	1,341,299
Exercisable (in shares) \| shares	1,009,553
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted-average exercise price, outstanding, beginning balance (in usd per share) \| $ / shares	$ 49.70	$ 50.61	$ 53.66
Weighted-average exercise price, granted (in usd per shares) \| $ / shares	70.23	65.08	51.78
Weighted-average exercise price, exercised (in usd per shares) \| $ / shares	45.69	48.91	46.98
Weighted-average exercise price, forfeited and expired (in usd per shares) \| $ / shares	72.53	97.46	77.77
Weighted-average exercise price, adjustment (in usd per share) \| $ / shares	57.64
Weighted-average exercise price, outstanding, ending balance (in usd per share) \| $ / shares	59.96	$ 49.70	$ 50.61
Weighted-average exercise price, vested or expected to vest (in usd per shares) \| $ / shares	59.90
Weighted-average exercise price, exercisable (in usd per shares) \| $ / shares	$ 56.07
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted- Average Remaining Contractual Term (In years)	3 years 8 months 4 days
Vested or expected to vest at December 31, 2022	3 years 8 months 1 day
Exercisable at December 31, 2022	3 years 1 month 13 days
Aggregate intrinsic value, outstanding \| $	$ 3,721
Vested or expected to vest at December 31, 2022 \| $	3,721
Exercisable at December 31, 2022 \| $	3,628
Adjustment factor		1.7
Intrinsic value of awards \| $	1,500	$ 21,400	$ 1,100
Fair value of options vested in period \| $	$ 7,400	$ 9,000	$ 11,900

Equity - PRSU and RSU Activity (Details)	12 Months Ended
Equity - PRSU and RSU Activity (Details)	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Dec. 31, 2020 $ / shares shares
Weighted- Average Grant-Date Fair Value
Adjustment factor		1.7
PRSUs
Number of Units(1)
Number of units, nonvested, beginning balance (in shares) \| shares	366,075	430,236	436,103
Granted (in shares) \| shares	192,921	146,322	84,110
Vested (in shares) \| shares	(230,310)	(113,991)	(60,958)
Forfeited and expired (in shares) \| shares	(35,516)	(96,492)	(29,019)
Adjustment due to ESAB Separation (in shares) \| shares	(32,373)
Number of units, nonvested, ending balance (in shares) \| shares	260,797	366,075	430,236
Weighted- Average Grant-Date Fair Value
Weighted-average grant date fair value, nonvested, beginning balance (in usd per share) \| $ / shares	$ 72.13	$ 59.70	$ 52.48
Granted (in usd per share) \| $ / shares	47.89	77.84	86.55
Vested (in usd per share) \| $ / shares	49.69	52.75	50.83
Forfeited and expired (in usd per share) \| $ / shares	46.07	48.30	47.48
Adjustment due to ESAB Separation (in usd per share) \| $ / shares	46.07
Weighted-average grant date fair value, nonvested, ending balance (in usd per share) \| $ / shares	$ 77.34	$ 72.13	$ 59.70
RSUs
Number of Units(1)
Number of units, nonvested, beginning balance (in shares) \| shares	645,217	489,654	383,836
Granted (in shares) \| shares	303,752	464,279	323,526
Vested (in shares) \| shares	(243,485)	(248,405)	(165,192)
Forfeited and expired (in shares) \| shares	(70,914)	(60,311)	(52,516)
Adjustment due to ESAB Separation (in shares) \| shares	(131,291)
Number of units, nonvested, ending balance (in shares) \| shares	503,279	645,217	489,654
Weighted- Average Grant-Date Fair Value
Weighted-average grant date fair value, nonvested, beginning balance (in usd per share) \| $ / shares	$ 69.44	$ 55.06	$ 45.54
Granted (in usd per share) \| $ / shares	67.58	78.84	59.27
Vested (in usd per share) \| $ / shares	64.11	51.71	42.74
Forfeited and expired (in usd per share) \| $ / shares	69.22	63.95	49.84
Adjustment due to ESAB Separation (in usd per share) \| $ / shares	71.52
Weighted-average grant date fair value, nonvested, ending balance (in usd per share) \| $ / shares	$ 71.33	$ 69.44	$ 55.06

Equity - Tangible Equity Units (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 11, 2019	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Tangible equity units issued	$ 460,000
Interest rate of tangible equity notes	5.75%	6.50%
Tangible equity units issued, number (in shares)	4,600,000
Tangible equity units issued, par value (in usd per share)	$ 100
Tangible equity units issued, cash proceeds	$ 447,700
TEU threshold for conversion (in shares)		6,100,000	4,000.0000
Prepaid Stock Purchase Contracts
Class of Stock [Line Items]
Proceeds from TEUs allocated to equity, percent	84.40%
Proceeds from TEUs allocated to debt, percent	15.60%
Tangible equity units prepaid stock purchase contracts		$ 1,300	$ 3,300
Conversion of tangible equity units into common stock (in shares)		1,700,000	4,400,000
Stock purchase contracts outstanding		4,600,000

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued Liabilities [Abstract]
Accrued compensation and related benefits	$ 51,384	$ 66,290
Accrued taxes	13,676	12,970
Accrued freight	3,955	5,299
Contingent consideration - current portion	8,812	1,816
Warranty liability- current portion	2,804	2,503
Accrued restructuring liability - current portion	1,090	2,170
Accrued third-party commissions	24,958	22,362
Customer advances and billings in excess of costs incurred	3,560	9,203
Lease liability - current portion	24,281	21,936
Accrued interest	2,921	11,066
Accrued rebates	13,715	12,584
Accrued professional fees	15,670	13,711
Accrued royalties	5,777	5,045
Other	37,689	38,436
Accrued liabilities	$ 210,292	$ 225,391
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued liabilities	Accrued liabilities

Accrued Liabilities - Restructuring (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	$ 2,828	$ 2,181
Provisions	16,808	8,663
Payments	(18,545)	(8,007)
Foreign Currency Translation		(9)
Balance at end of period	1,091	2,828	$ 2,181
Non cash charges	2,152	5,251
Provisions	18,960	13,914
Restructuring and other charges	18,960	13,914	23,314
Cost of Sales
Restructuring Reserve [Roll Forward]
Restructuring and other charges	1,700	5,200	6,600
Restructuring Charges
Restructuring Reserve [Roll Forward]
Restructuring and other charges	17,200	8,700
Termination Benefits
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	2,470	1,884
Provisions	3,944	4,036
Payments	(5,441)	(3,441)
Foreign Currency Translation		(9)
Balance at end of period	973	2,470	1,884
Facility Closure Costs
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	358	297
Provisions	12,864	4,627
Payments	(13,104)	(4,566)
Foreign Currency Translation		0
Balance at end of period	118	358	$ 297
Prevention and Recovery
Restructuring Reserve [Roll Forward]
Provisions	9,600	11,500
Reconstructive
Restructuring Reserve [Roll Forward]
Provisions	9,400	2,400
Accrued Liabilities
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	400
Balance at end of period		400
Other Liabilities
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	$ 300
Balance at end of period		$ 300

Defined Benefit Plans -Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation		$ 185,000
Fair value of plan assets		87,500
Benefit obligation, (decrease) increase	$ (360,000)	75,800
Benefit obligation, benefits paid		22,100
Foreign exchange effect		6,600
Actuarial (gain)	21,600	11,200
Expected employer contributions	3,300
Defined contribution plan, cost	6,600	5,400	$ 4,800
ESAB Corporation
Defined Benefit Plan Disclosure [Line Items]
Net retirement liabilities as part of the sale		70,000
Benefit obligation, (decrease) increase	337,000
Discontinued Operations
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost (income)	300	(9,900)	2,400
Mathys AG Bettlach
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation increase due to acquisitions		101,300
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Actuarial (gain)		3,400
United States
Defined Benefit Plan Disclosure [Line Items]
Actuarial (gain)		7,800
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation increase due to acquisitions	0	101,312
Benefit obligation, benefits paid	5,724	22,073
Foreign exchange effect	4,844	6,569
Actuarial (gain)	21,586	11,171
Net periodic benefit cost (income)	2,902	(9,660)	1,816
Pension Benefits \| Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation increase due to acquisitions	0	101,312
Benefit obligation, benefits paid	1,854	7,122
Foreign exchange effect	4,844	6,569
Actuarial (gain)	21,586	3,449
Net periodic benefit cost (income)	$ 3,428	$ (7,487)	$ 2,840

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Defined Benefit Plans - Plans Obligation and Asset Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Actuarial loss (gain)	$ (21,600)	$ (11,200)
Foreign exchange effect		(6,600)
Benefits paid		22,100
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of year	366,820
Fair value of plan assets, end of year	77,696	366,820
Discontinued Operations
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Pension plan, liability, current		3,400
Pension plan, liability noncurrent		62,200
Foreign Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Actuarial loss (gain)		(3,400)
Pension Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation, beginning of year	455,067	379,295
Acquisitions	0	101,312
Service cost	4,703	3,719	$ 1,933
Interest cost	1,821	4,642	7,454
Actuarial loss (gain)	(21,586)	(11,171)
Foreign exchange effect	(4,844)	(6,569)
Benefits paid	5,724	22,073
Divestiture	337,045	0
Other	2,683	5,912
Projected benefit obligation, end of year	95,075	455,067	379,295
Accumulated benefit obligation, end of year	91,527	447,275
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of year	366,820	267,254
Acquisitions	0	72,263
Actual return on plan assets	(4,193)	27,554
Employer contribution	3,416	6,531
Foreign exchange effect	2,599	1,374
Benefits paid	(5,724)	(22,073)
Divestiture	282,534	0
Settlement	0	11,272
Other	2,510	5,393
Fair value of plan assets, end of year	77,696	366,820	267,254
Funded status, end of year	(17,379)	(88,247)
Non-current assets	0	7,733
Current liabilities	(174)	(3,564)
Non-current liabilities	(17,205)	(92,416)
Total	(17,379)	(88,247)
Pension settlement gain	0	11,157	(99)
Pension Benefits \| Foreign Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation, beginning of year	252,739	157,195
Acquisitions	0	101,312
Service cost	4,703	3,719	1,933
Interest cost	897	1,741	2,315
Actuarial loss (gain)	(21,586)	(3,449)
Foreign exchange effect	(4,844)	(6,569)
Benefits paid	1,854	7,122
Divestiture	137,663	0
Other	2,683	5,912
Projected benefit obligation, end of year	95,075	252,739	157,195
Accumulated benefit obligation, end of year	91,527	244,946
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of year	165,561	73,114
Acquisitions	0	72,263
Actual return on plan assets	(6,557)	5,665
Employer contribution	3,378	6,350
Foreign exchange effect	(2,599)	(1,374)
Benefits paid	(1,854)	(7,122)
Divestiture	82,743	0
Settlement	0	11,272
Other	2,510	5,393
Fair value of plan assets, end of year	77,696	165,561	73,114
Funded status, end of year	(17,379)	(87,178)
Pension settlement gain	0	11,157	(99)
Pension Benefits \| Foreign Plan \| Discontinued Operations
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Pension settlement gain		11,200
Other Post-Retirement Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation, beginning of year	12,078	13,344
Acquisitions	0	0
Service cost	4	14	8
Interest cost	61	189	313
Actuarial loss (gain)	0	(650)
Foreign exchange effect	(7)	(7)
Benefits paid	231	812
Divestiture	11,905	0
Other	0	0
Projected benefit obligation, end of year	0	12,078	13,344
Accumulated benefit obligation, end of year	0	12,078
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of year	0	0
Acquisitions	0	0
Actual return on plan assets	0	0
Employer contribution	231	812
Foreign exchange effect	0	0
Benefits paid	(231)	(812)
Divestiture	0	0
Settlement	0	0
Other	0	0
Fair value of plan assets, end of year	0	0	0
Funded status, end of year	0	(12,078)
Non-current assets	0	0
Current liabilities	0	(923)
Non-current liabilities	0	(11,155)
Total	0	(12,078)
Pension settlement gain	$ 0	$ 0	$ 0

Defined Benefit Plans - Defined Benefit Expected Benefit Payments (Details) - Pension Benefits $ in Thousands	Dec. 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2023	$ 4,710
2024	5,120
2025	5,838
2026	5,096
2027	5,055
2028 - 2031	$ 28,098

Defined Benefit Plans - Plan Asset Allocation (Details)	Dec. 31, 2022	Dec. 31, 2021
U.S. \| United States
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation		45.00%
International \| United States
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation		15.00%
Fixed income \| United States
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation		38.00%
Fixed income \| Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	27.00%	27.00%
Fixed income \| Foreign Plan \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	24.00%
Fixed income \| Foreign Plan \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	43.00%
Other \| United States
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation		0.00%
Other \| Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	36.00%	43.00%
Other \| Foreign Plan \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	25.00%
Other \| Foreign Plan \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	45.00%
Cash and cash equivalents \| United States
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation		1.00%
Cash and cash equivalents \| Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	2.00%	2.00%
Cash and cash equivalents \| Foreign Plan \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	0.00%
Cash and cash equivalents \| Foreign Plan \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	10.00%
Equity securities \| Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	35.00%	28.00%
Equity securities \| Foreign Plan \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	25.00%
Equity securities \| Foreign Plan \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation	43.00%

Defined Benefit Plans Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Current year net actuarial (gain) loss	$ 12,207	$ 20,870	$ (8,169)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	4,703	3,719	1,933
Interest cost	1,821	4,642	7,454
Amortization	1,187	5,953	4,960
Settlement (gain) loss	0	(11,157)	99
Other	(20)	2	143
Expected return on plan assets	(4,789)	(12,819)	(12,773)
Net periodic benefit (income) cost	2,902	(9,660)	1,816
Current year net actuarial (gain) loss	14,728	27,385	(10,379)
Current year prior service cost	221	0	74
Amortization of net (gain) loss	(1,135)	(5,899)	(4,914)
Settlement/divestiture/other gain	0	(51)	(177)
Amortization of prior service cost	(52)	(65)	(46)
Total recognized in Other comprehensive (gain) loss	15,694	33,400	(5,316)
Pension Benefits \| Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	4,703	3,719	1,933
Interest cost	897	1,741	2,315
Amortization	273	1,223	747
Settlement (gain) loss	0	(11,157)	99
Other	(20)	2	143
Expected return on plan assets	(2,425)	(3,015)	(2,397)
Net periodic benefit (income) cost	3,428	(7,487)	2,840
Current year net actuarial (gain) loss	14,728	7,577	(6,226)
Current year prior service cost	221	0	74
Amortization of net (gain) loss	(221)	(1,169)	(701)
Settlement/divestiture/other gain	0	(51)	(177)
Amortization of prior service cost	(52)	(65)	(46)
Total recognized in Other comprehensive (gain) loss	14,780	8,862	(5,376)
Other Post-Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	14	8
Interest cost	61	189	313
Amortization	(36)	(109)	(231)
Settlement (gain) loss	0	0	0
Other	0	0	0
Expected return on plan assets	0	0	0
Net periodic benefit (income) cost	29	94	90
Current year net actuarial (gain) loss	0	651	(1,143)
Current year prior service cost	0	0	0
Amortization of net (gain) loss	36	109	231
Settlement/divestiture/other gain	0	0	0
Amortization of prior service cost	0	0	0
Total recognized in Other comprehensive (gain) loss	$ (36)	$ 542	$ (1,374)

Defined Benefit Plans Defined Benefit Plan, Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	$ (16,620)	$ 72,612
Prior service cost	488	412
Total	$ (16,132)	73,024
Other Post-Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)		(2,573)
Prior service cost		0
Total		$ (2,573)

Defined Benefit Plans Key Economic Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate, benefit obligation	2.20%	1.70%
Weighted-average discount rate, net periodic benefit cost	1.70%	1.70%	2.50%
Weighted-average expected return on plan assets, net periodic benefit cost	4.30%	5.20%	5.70%
Other Post-Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate, benefit obligation	0.00%	2.60%
Weighted-average discount rate, net periodic benefit cost	2.60%	2.10%	3.00%
Foreign Plan \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate, benefit obligation	2.20%	1.20%
Weighted-average rate of increase in compensation levels for active foreign plans, benefit obligation	1.50%	0.90%
Weighted-average discount rate, net periodic benefit cost	1.20%	1.40%	1.90%
Weighted-average expected return on plan assets, net periodic benefit cost	2.80%	3.60%	4.10%
Weighted-average rate of increase in compensation levels for active foreign plans, net periodic benefit cost	1.70%	0.60%	0.80%
Foreign Plan \| Other Post-Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate, benefit obligation		0.00%

Financial Instruments and Fair Value Measurements - Narrative (Details )	12 Months Ended
	Dec. 31, 2022 USD ($) contingentConsideration	Dec. 31, 2021 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 300,000,000	$ 2,100,000,000
Contingent consideration	22,808,000	5,000,000
Reduction to contingent consideration, liability from prior acquisition	$ 3,300,000
Number of contingent consideration arrangements \| contingentConsideration	2
Deferred compensation plans	$ 10,324,000	11,213,000
Derivative, notional amount	800,000	7,600,000
2022 Acquisitions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	20,100,000
Contingent consideration fixed limit, low	0
Contingent consideration fixed limit, high	11,700,000
Level Three
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	22,808,000	5,000,000
Deferred compensation plans	$ 0	$ 0

Financial Instruments and Fair Value Measurements Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets, Fair Value Disclosure [Abstract]
Foreign currency contracts - not designated as hedges		$ 5
Deferred compensation plans	$ 10,324	11,213
Assets, fair value disclosure	10,324	11,218
Liabilities, Fair Value Disclosure [Abstract]
Foreign currency contracts - not designated as hedges	35	260
Deferred compensation plans	10,324	11,213
Contingent consideration	22,808	5,000
Liabilities, fair value disclosure	33,167	16,473
Level One
Assets, Fair Value Disclosure [Abstract]
Foreign currency contracts - not designated as hedges		0
Deferred compensation plans	0	0
Assets, fair value disclosure	0	0
Liabilities, Fair Value Disclosure [Abstract]
Foreign currency contracts - not designated as hedges	0	0
Deferred compensation plans	0	0
Contingent consideration	0	0
Liabilities, fair value disclosure	0	0
Level Two
Assets, Fair Value Disclosure [Abstract]
Foreign currency contracts - not designated as hedges		5
Deferred compensation plans	10,324	11,213
Assets, fair value disclosure	10,324	11,218
Liabilities, Fair Value Disclosure [Abstract]
Foreign currency contracts - not designated as hedges	35	260
Deferred compensation plans	10,324	11,213
Contingent consideration	0	0
Liabilities, fair value disclosure	10,359	11,473
Level Three
Assets, Fair Value Disclosure [Abstract]
Foreign currency contracts - not designated as hedges		0
Deferred compensation plans	0	0
Assets, fair value disclosure	0	0
Liabilities, Fair Value Disclosure [Abstract]
Foreign currency contracts - not designated as hedges	0	0
Deferred compensation plans	0	0
Contingent consideration	22,808	5,000
Liabilities, fair value disclosure	$ 22,808	$ 5,000

Financial Instruments and Fair Value Measurements Gain (Loss) on Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) on net investment hedges	$ 9,028	$ 23,247	$ (26,268)
Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) on net investment hedges	0	23,247	(26,268)
Customer Sales Contracts \| Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss)	(35)	(255)	0
Realized gain (loss)	$ (577)	$ (104)	$ 0

Commitments and Contingencies - Narrative (Details ) $ in Thousands	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Unconditional purchase obligation	$ 162,000

Segment Information - Results and Reconciliation of Operating Loss to Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Dec. 31, 2021	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net sales:	$ 408,713	$ 383,814	$ 395,117	$ 375,457	$ 399,058	$ 359,923	$ 356,124	$ 311,083	$ 1,563,101	$ 1,426,188	$ 1,120,700
Adjusted EBITDA (non-GAAP)									236,070	205,996	161,535
Depreciation, amortization and impairment									202,965	186,989	167,903
Capital expenditures									99,547	68,591	74,624
Loss from continuing operations before income taxes									(2,069)	(121,781)	(119,006)
Restructuring and other charges									18,960	13,914	23,314
MDR and other costs									16,709	7,949	6,900
Strategic transaction costs									61,024	23,448	2,800
Stock-based compensation									31,493	25,737	22,500
Depreciation and other amortization									76,664	70,069	64,597
Amortization of acquired intangibles									126,301	116,920	103,306
Insurance settlement gain	(4,600)		(33,000)						(36,705)	0	0
Inventory step-up									12,802	10,758	4,300
Interest expense, net									24,052	29,112	52,824
Debt extinguishment charges			20,100				$ 29,900		(20,396)	(29,870)	0
Gain on investment in ESAB Corporation	(30,300)	63,100	$ (135,500)						(102,669)	0	0
Gain on cost basis investment		$ (8,800)							(8,800)	0	0
Other income									2,088	0	0
Total assets:	4,273,248				8,515,912				4,273,248	8,515,912
Total assets associated with discontinued operations					3,700,000					3,700,000
Cost of Sales
Restructuring and other charges									1,700	5,200	6,600
Prevention and Recovery
Net sales:									1,027,628	1,026,029	863,150
Adjusted EBITDA (non-GAAP)									141,344	133,500	112,562
Depreciation, amortization and impairment									104,458	97,898	108,174
Capital expenditures									25,140	19,514	31,953
Total assets:	2,470,917				2,966,646				2,470,917	2,966,646
Reconstructive
Net sales:									535,473	400,159	257,550
Adjusted EBITDA (non-GAAP)									94,726	72,496	48,973
Depreciation, amortization and impairment									98,507	89,091	59,729
Capital expenditures									74,407	49,077	$ 42,671
Total assets:	1,802,331				1,854,603				1,802,331	1,854,603
All Segments
Total assets:	$ 4,273,248				$ 4,821,249				$ 4,273,248	$ 4,821,249

Segment Information Net Sales and PPE by Geography (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Dec. 31, 2021	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 408,713	$ 383,814	$ 395,117	$ 375,457	$ 399,058	$ 359,923	$ 356,124	$ 311,083	$ 1,563,101	$ 1,426,188	$ 1,120,700
Property, plant and equipment, net	236,741				235,113				236,741	235,113
United States
Segment Reporting Information [Line Items]
Net sales									1,062,765	1,030,440	839,972
Property, plant and equipment, net	157,897				153,073				157,897	153,073
Foreign locations
Segment Reporting Information [Line Items]
Net sales									500,336	395,748	$ 280,728
Switzerland
Segment Reporting Information [Line Items]
Property, plant and equipment, net	41,113				47,721				41,113	47,721
Germany
Segment Reporting Information [Line Items]
Property, plant and equipment, net	16,450				15,440				16,450	15,440
Mexico
Segment Reporting Information [Line Items]
Property, plant and equipment, net	6,605				4,085				6,605	4,085
Australia
Segment Reporting Information [Line Items]
Property, plant and equipment, net	3,528				3,002				3,528	3,002
Other foreign locations
Segment Reporting Information [Line Items]
Property, plant and equipment, net	$ 11,148				$ 11,792				$ 11,148	$ 11,792

Selected Quarterly Data - (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Dec. 31, 2021	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Selected Quarterly Financial Information [Abstract]
Net sales	$ 408,713	$ 383,814	$ 395,117	$ 375,457	$ 399,058	$ 359,923	$ 356,124	$ 311,083	$ 1,563,101	$ 1,426,188	$ 1,120,700
Gross profit	231,753	215,824	215,906	205,900	207,924	197,876	200,593	171,282	869,383	777,675	603,640
Net loss from continuing operations	(54,836)	(65,949)	120,651	(38,055)	(14,694)	(13,578)	(42,127)	(31,854)
Income from discontinued operations, net of taxes	16,267	(527)	(43,666)	54,356	14,173	40,435	71,829	52,094	26,430	178,531	120,198
Less: net income attributable to noncontrolling interest from continuing operations - net of taxes	34	136	130	267	216	191	355	290	567	1,052	692
Less: net income attributable to noncontrolling interest from discontinued operations - net of taxes	0	0	0	966	1,170	818	705	876	$ 966	$ 3,569	$ 2,454
Net income (loss) attributable to Enovis Corporation	$ (38,603)	$ (66,612)	$ 76,855	$ 15,068	$ (1,907)	$ 25,848	$ 28,642	$ 19,074
Net income (loss) per share - basic and diluted
Net income per share from continuing operations - basic (in usd per share)	$ (1.01)	$ (1.22)	$ 2.23	$ (0.76)	$ (0.28)	$ (0.26)	$ (0.83)	$ (0.69)	$ (0.72)	$ (2.02)	$ (1.65)
Net income (loss) per share from discontinued operations - basic	0.30	(0.01)	(0.81)	1.04	0.24	0.75	1.39	1.10	0.47	3.42	2.58
Net income (loss) per share from consolidated operations - basic	(0.71)	(1.23)	1.42	0.28	(0.04)	0.49	0.56	0.41	(0.25)	1.40	0.93
Net income (loss) per share - diluted
Net income per share from continuing operations - diluted (in usd per share)	(1.01)	(1.22)	2.21	(0.76)	(0.28)	(0.26)	(0.83)	(0.69)	(0.72)	(2.02)	(1.65)
Net income (loss) per share from discontinued operations - diluted	0.30	(0.01)	(0.80)	1.04	0.24	0.75	1.39	1.10	0.47	3.42	2.58
Net income (loss) per share from consolidated operations - diluted	$ (0.71)	$ (1.23)	$ 1.41	$ 0.28	$ (0.04)	$ 0.49	$ 0.56	$ 0.40	$ (0.25)	$ 1.40	$ 0.93
Gain(loss) on investment in ESAB Corporation	$ 30,300	$ (63,100)	$ 135,500						$ 102,669	$ 0	$ 0
Insurance settlement gain	(4,600)		(33,000)						(36,705)	0	0
Debt extinguishment charges			$ 20,100				$ 29,900		(20,396)	(29,870)	0
Gain on investment in Insight		$ (8,800)							(8,800)	0	0
Income tax expense	$ 52,300								$ 36,120	$ (19,528)	$ (44,579)

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Allowance, Credit Loss
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 6,589	$ 6,849	$ 4,758
Charged to cost and expense	2,552	1,040	3,376
Charged to other accounts	0	0	0
Write-Offs Write-Downs and Deductions	(963)	(1,245)	(1,718)
Foreign Currency Translation	(213)	(55)	433
Balance at End of Period	7,965	6,589	6,849
SEC Schedule, 12-09, Allowance, Credit Loss \| Cumulative Effect, Period of Adoption, Adjusted Balance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period		6,849
Balance at End of Period			6,849
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	111,812	112,129	83,931
Charged to cost and expense	(12,126)	(4,496)	(20,327)
Charged to other accounts	537	1,352	48,525
Write-Offs Write-Downs and Deductions	0	2,827	0
Foreign Currency Translation	(6,681)	0	0
Balance at End of Period	$ 93,542	$ 111,812	$ 112,129

Defined Benefit Plans - Plan Asset Allocation, Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 77,696	$ 366,820
Measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Plan assets		182,971
Level One
Defined Benefit Plan Disclosure [Line Items]
Plan assets	49,548	113,272
Level Two
Defined Benefit Plan Disclosure [Line Items]
Plan assets	28,148	70,577
Level Three
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
United States \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets		1,699
United States \| U.S. large cap
Defined Benefit Plan Disclosure [Line Items]
Plan assets		52,810
United States \| U.S. small/mid cap
Defined Benefit Plan Disclosure [Line Items]
Plan assets		37,484
United States \| International
Defined Benefit Plan Disclosure [Line Items]
Plan assets		31,094
United States \| U.S. government and corporate
Defined Benefit Plan Disclosure [Line Items]
Plan assets		77,084
United States \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets		1,088
United States \| Measured at net asset value \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Measured at net asset value \| U.S. large cap
Defined Benefit Plan Disclosure [Line Items]
Plan assets		52,810
United States \| Measured at net asset value \| U.S. small/mid cap
Defined Benefit Plan Disclosure [Line Items]
Plan assets		21,983
United States \| Measured at net asset value \| International
Defined Benefit Plan Disclosure [Line Items]
Plan assets		31,094
United States \| Measured at net asset value \| U.S. government and corporate
Defined Benefit Plan Disclosure [Line Items]
Plan assets		77,084
United States \| Measured at net asset value \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level One \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets		1,699
United States \| Level One \| U.S. large cap
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level One \| U.S. small/mid cap
Defined Benefit Plan Disclosure [Line Items]
Plan assets		15,501
United States \| Level One \| International
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level One \| U.S. government and corporate
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level One \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets		1,088
United States \| Level Two \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Two \| U.S. large cap
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Two \| U.S. small/mid cap
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Two \| International
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Two \| U.S. government and corporate
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Two \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Three \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Three \| U.S. large cap
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Three \| U.S. small/mid cap
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Three \| International
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Three \| U.S. government and corporate
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
United States \| Level Three \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets		0
Foreign Plan \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets	1,250	3,029
Foreign Plan \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	28,148	70,577
Foreign Plan \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	27,074	46,475
Foreign Plan \| Non-U.S. government and corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	21,224	45,480
Foreign Plan \| Measured at net asset value \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Foreign Plan \| Measured at net asset value \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Foreign Plan \| Measured at net asset value \| Non-U.S. government and corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Foreign Plan \| Level One \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets	1,250	3,029
Foreign Plan \| Level One \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	27,074	46,475
Foreign Plan \| Level One \| Non-U.S. government and corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	21,224	45,480
Foreign Plan \| Level Two \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Foreign Plan \| Level Two \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	28,148	70,577
Foreign Plan \| Level Two \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0
Foreign Plan \| Level Three \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Foreign Plan \| Level Three \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Foreign Plan \| Level Three \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Foreign Plan \| Level Three \| Non-U.S. government and corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 0	$ 0