Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 58

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 16
Chunk 58
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 December 31, 2022
         
        $
        (2,482
        )
         
        $
        1,005

        $
        101

        $
        (1,376
        )

        Other comprehensive income (loss)

        1,417

        (1,233
        )

        (101
        )

        83

        Income taxes

        —

        —

        —

        —

        Balance at December 31, 2023
         
        $
        (1,065
        )
         
        $
        (228
        )
         
        $
        —

        $
        (1,293
        )

        Other comprehensive income (loss)

        (3,009
        )

        1,671

        —

        (1,338
        )

        Income taxes

        —

        —

        —

        —

        Reclassification adjustment to:

        Other expense, net

        —

        (1,671
        )

        —

        (1,671
        )

        Balance at December 31, 2024
         
        $
        (4,074
        )
         
        $
        (228
        )
         
        $
        —

        $
        (4,302
        )

15.	Revenue recognition and accounts receivableRevenue RecognitionThe Company accounts for a contract when there is (i) approval and commitment from both parties, (ii) the rights of the parties are identified, (iii) payment terms are identified, (iv) the contract has commercial substance, (v) and collectability of consideration is probable. The Company’s contracts may contain one or more performance obligations. If a contract contains more than one performance obligation, the Company allocates the total transaction price to each of the performance obligations based upon the observable standalone selling price of the promised goods or services underlying each performance obligation. The Company recognizes revenue when control of the promised goods or services is transferred to the customer, which typically occurs at a point in time upon shipment, delivery, or utilization, in an amount that reflects the consideration which the Company expects to be entitled to in exchange for the promised goods or services. The consideration for goods or services reflects any fixed amount stated per the contract and estimates for any variable consideration, such as discounts, to the extent that is it probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved.The following sections discuss the Company’s revenue recognition policies by significant product category: