Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 171

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 171
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, research and development expenses were further reduced by the realization of Merger-related synergies

•Partially offset by an increase in certain product development and clinical expenses

59

Acquisition-related Amortization and Remeasurement

    Percentage Change

    (U.S. Dollars, in thousands)
     
    2024

    2023

    2022

    2024/2023

    2023/2022

    Acquisition-related amortization and remeasurement
     
    $
    24,336

    $
    14,757

    $
    (7,404
    )

    64.9
    %

    -299.3
    %

    As a percentage of net sales

    3.1
    %

    2.0
    %

    -1.6
    %

    1.1
    %

    3.6
    %

2024 Compared to 2023

Acquisition-related amortization and remeasurement increased $9.6 million

•Increase of $9.6 million associated with the remeasurement of a contingent consideration obligation with Lattus Spine LLC assumed in the Merger

Non-operating Expense

    Percentage Change

    (U.S. Dollars, in thousands)
     
    2024

    2023

    2022

    2024/2023

    2023/2022

    Interest expense, net
     
    $
    (29,631
    )
     
    $
    (8,631
    )
     
    $
    (1,288
    )

    243.3
    %

    570.1
    %

    Other expense, net

    (9,625
    )

    (938
    )

    (3,150
    )

    926.1
    %

    -70.2
    %

Non-operating expense largely consists of net interest income and expense, transaction gains and losses from changes in foreign currency exchange rates, changes in fair value related to our equity holdings in certain privately-held companies, and credit losses recognized on certain convertible debt investments. Foreign exchange gains and losses are primarily a result of several of our foreign subsidiaries holding trade and intercompany payables or receivables in currencies (most notably the U.S. Dollar) other than their functional currency.

2024 Compared to 2023 

Interest expense, net, increased