0000784199-21-000037 | 10-K | XBRL Viewer


Document		Parts Into Which Incorporated
Proxy Statement for the Annual Meeting of Stockholders to be filed within 120 days after December 31, 2020		Part III

Document Fiscal Year Focus

2020

Entity Central Index Key

0000784199

Document Fiscal Period Focus

Amendment Flag

false

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 61,412	$ 33,766
Restricted securities	546	528
Receivables:
Trade accounts, net	45,964	52,940
Other	2,788	2,921
Total receivables	48,752	55,861
Inventories	73,038	53,071
Deferred preservation costs	36,546	32,551
Prepaid expenses and other	14,295	11,613
Total current assets	234,589	187,390
Property and equipment:
Equipment and software	66,141	61,271
Furniture and fixtures	6,186	5,650
Leasehold improvements	38,256	36,173
Total property and equipment	110,583	103,094
Less accumulated depreciation and amortization	77,506	70,944
Net property and equipment	33,077	32,150
Operating lease right-of-use assets, net	18,571	21,994
Goodwill	260,061	186,697
Acquired technology, less accumulated amortization of $36,091 as of December 31, 2020 and $24,778 as of December 31, 2019	186,091	115,415
Other Intangibles, less accumulated amortization of $17,667 as of December 31, 2020 and $13,460 as of December 31, 2019	40,966	42,319
Deferred income taxes	1,446	5,481
Other	14,603	14,208
Total assets	789,404	605,654
Current liabilities:
Accrued expenses	7,472	6,733
Accrued compensation	10,192	12,260
Accounts payable	9,623	9,796
Taxes payable	2,808	2,984
Accrued procurement fees	3,619	4,362
Current portion of finance lease obligation	614	597
Current maturities of operating leases	5,763	5,487
Current portion of long-term debt	1,195	1,164
Current portion of contingent consideration	16,430
Other	2,752	1,812
Total current liabilities	60,468	45,195
Long-term debt	290,468	214,571
Deferred income taxes	34,713	25,844
Non-current maturities of operating leases	14,034	17,918
Non-current finance leases obligations	5,300	5,415
Contingent consideration	43,500
Deferred compensation liability	5,518	4,434
Other	6,690	6,581
Total liabilities	460,691	319,958
Commitments and contingencies
Shareholders' equity:
Preferred stock $0.01 par value per share, 5,000 shares authorized, no shares issued
Common stock $0.01 par value per share, 75,000 shares authorized, 40,394 and 39,018 shares issued as of December 31, 2020 and 2019, respectively	404	390
Additional paid-in capital	316,192	271,782
Retained earnings	20,022	36,704
Accumulated other comprehensive income (loss)	6,743	(8,589)
Treasury stock at cost, 1,487 and 1,484 shares as of December 31, 2020 and 2019, respectively	(14,648)	(14,591)
Total shareholders' equity	328,713	285,696
Total liabilities and shareholders' equity	$ 789,404	$ 605,654

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other assets noncurrent:
Other intangibles, accumulated amortization	$ 17,667	$ 13,460
Shareholders' equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	40,394,000	39,018,000
Treasury stock at cost, shares	1,487,000	1,484,000
Acquired Technology [Member]
Other assets noncurrent:
Acquired technology, accumulated amortization	$ 36,091	$ 24,778

Consolidated Statements Of Operations And Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total revenues	$ 253,227	$ 276,222	$ 262,841
Cost of products and preservation services:
Total cost of products and preservation services	85,443	93,209	89,857
Gross margin	167,784	183,013	172,984
Operating expenses:
General, administrative, and marketing	141,136	143,011	140,574
Research and development	24,207	22,960	23,098
Total operating expenses	165,343	165,971	163,672
Operating income	2,441	17,042	9,312
Interest expense	16,698	14,886	15,788
Interest income	(217)	(738)	(226)
Other expense, net	3,134	1,250	141
(Loss) income before income taxes	(17,174)	1,644	(6,391)
Income tax benefit	(492)	(76)	(3,551)
Net (loss) income	$ (16,682)	$ 1,720	$ (2,840)
(Loss) income per common share:
Basic	$ (0.44)	$ 0.05	$ (0.08)
Diluted	$ (0.44)	$ 0.05	$ (0.08)
Weighted-average common shares outstanding:
Basic	37,861	37,118	36,412
Diluted	37,861	37,860	36,412
Net (loss) income	$ (16,682)	$ 1,720	$ (2,840)
Other comprehensive income (loss)	15,332	(2,517)	(7,929)
Comprehensive loss	(1,350)	(797)	(10,769)
Products [Member]
Revenues:
Total revenues	179,299	197,246	187,394
Cost of products and preservation services:
Total cost of products and preservation services	50,128	55,022	53,772
Preservation Services [Member]
Revenues:
Total revenues	73,928	78,976	75,447
Cost of products and preservation services:
Total cost of products and preservation services	$ 35,315	$ 38,187	$ 36,085

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net cash flows from operating activities:
Net (loss) income	$ (16,682)	$ 1,720	$ (2,840)
Adjustments to reconcile net (loss) income to net cash from operating activities:
Depreciation and amortization	20,712	18,317	18,095
Non-cash lease expense	7,145	5,009
Non-cash compensation	6,912	8,799	6,325
Change in fair value of long-term loan receivable	4,949
Change in fair value of contingent consideration	4,523
Deferred income taxes	4,283	(2,305)	(4,485)
Write-down of inventories and deferred preservation costs	3,443	1,488	649
Other	3,780	2,182	2,149
Changes in operating assets and liabilities:
Receivables	9,938	(5,332)	(1,119)
Prepaid expenses and other assets	(2,720)	(6,177)	(2,407)
Accounts payable, accrued expenses, and other liabilities	(9,157)	251	(8,870)
Inventories and deferred preservation costs	(24,757)	(8,125)	2,384
Net cash flows provided by operating activities	12,369	15,827	9,881
Net cash flows used in investing activities:
Ascyrus Acquisition, net of cash acquired	(59,119)
Capital expenditures	(7,328)	(8,072)	(5,786)
Payments for Endospan Agreements	(5,000)	(15,000)
Other	(1,681)	(871)	(929)
Net cash flows used in investing activities	(73,128)	(23,943)	(6,715)
Net cash flows from financing activities:
Proceeds from issuance of convertible debt	100,000
Proceeds from revolving line of credit	30,000
Proceeds from financing insurance premiums	2,815
Proceeds from exercise of stock options and issuance of common stock	2,432	4,758	3,854
Repayment of revolving line of credit	(30,000)
Repayment of debt	(5,346)	(2,780)	(2,790)
Payment of debt issuance costs	(3,647)		(624)
Redemption and repurchase of stock to cover tax withholdings	(1,995)	(2,743)	(2,100)
Other	(651)	(728)	(902)
Net cash flows provided by (used in) financing activities	93,608	(1,493)	(2,562)
Effect of exchange rate changes on cash	(5,185)	1,667	879
Increase (decrease) in cash, cash equivalents, and restricted securities	27,664	(7,942)	1,483
Cash, cash equivalents, and restricted securities, beginning of year	34,294	42,236	40,753
Cash, cash equivalents, and restricted securities, end of year	$ 61,958	$ 34,294	$ 42,236

Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Total
Balance at Dec. 31, 2017	$ 376	$ 249,935	$ 215	$ 37,609	$ 1,857	$ (12,719)	$ 215	$ 277,058
Balance, shares at Dec. 31, 2017	37,618,000					(1,386,000)
Net (loss) income				(2,840)				(2,840)
Other comprehensive (loss) income:
Foreign currency translation gain (loss), net of tax					(7,929)			(7,929)
Comprehensive loss								(10,769)
Equity compensation	$ 3	6,806						6,809
Equity compensation, shares	287,000
Exercise of options	$ 5	4,382				$ (1,872)		2,515
Exercise of options, shares	578,000					(98,000)
Employee stock purchase plan	$ 1	1,338						$ 1,339
Employee stock purchase plan, shares	83,000							83,000
Redemption and repurchase of stock to cover tax withholdings		(2,100)						$ (2,100)
Redemption and repurchase of stock to cover tax withholdings, shares	(103,000)
Balance at Dec. 31, 2018	$ 385	260,361		34,984	(6,072)	$ (14,591)		275,067
Balance, shares at Dec. 31, 2018	38,463,000					(1,484,000)
Net (loss) income				1,720				1,720
Other comprehensive (loss) income:
Foreign currency translation gain (loss), net of tax					(2,517)			(2,517)
Comprehensive loss								(797)
Equity compensation	$ 2	9,409						9,411
Equity compensation, shares	254,000
Exercise of options	$ 3	3,292						3,295
Exercise of options, shares	334,000
Employee stock purchase plan	$ 1	1,462						$ 1,463
Employee stock purchase plan, shares	61,000							61,000
Redemption and repurchase of stock to cover tax withholdings	$ (1)	(2,742)						$ (2,743)
Redemption and repurchase of stock to cover tax withholdings, shares	(94,000)
Balance at Dec. 31, 2019	$ 390	271,782		36,704	(8,589)	$ (14,591)		285,696
Balance, shares at Dec. 31, 2019	39,018,000					(1,484,000)
Net (loss) income				(16,682)				(16,682)
Other comprehensive (loss) income:
Foreign currency translation gain (loss), net of tax					15,332			15,332
Comprehensive loss								(1,350)
Stock issued for the Ascyrus Acquisition	$ 10	19,990						20,000
Stock issued for the Ascyrus Acquisition, shares	992,000
Equity component of the convertible note issuance		16,426						16,426
Equity compensation	$ 3	7,501						7,504
Equity compensation, shares	296,000
Exercise of options	$ 1	927				$ (57)		871
Exercise of options, shares	89,000					(3,000)
Employee stock purchase plan	$ 1	1,560						$ 1,561
Employee stock purchase plan, shares	83,000							83,000
Redemption and repurchase of stock to cover tax withholdings	$ (1)	(1,994)						$ (1,995)
Redemption and repurchase of stock to cover tax withholdings, shares	(84,000)
Balance at Dec. 31, 2020	$ 404	$ 316,192		$ 20,022	$ 6,743	$ (14,648)		$ 328,713
Balance, shares at Dec. 31, 2020	40,394,000					(1,487,000)

Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Summary Of Significant Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Nature of Business

CryoLife, Inc. (“CryoLife,” the “Company,” “we,” or “us”) is a leader in the manufacturing, processing, and distribution of medical devices and implantable human tissues used in cardiac and vascular surgical procedures for patients with aortic disease. We have four major product families: BioGlue Surgical Adhesive (“BioGlue”) products, aortic stents and stent grafts, On-X mechanical heart valves and related surgical products, and implantable cardiac and vascular human tissues. Aortic stents and stent grafts include JOTEC stent grafts and surgical products, Ascyrus Medical Dissection Stent (“AMDS”) hybrid prosthesis, and NEXUS endovascular stent graft system (“NEXUS”). In addition to these four major product families, we sell or distribute PhotoFix bovine surgical patch, PerClot hemostatic powder, CardioGenesis cardiac laser therapy, and NeoPatch chorioamniotic allograft.

Basis of Presentation and Principles of Consolidation

We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying consolidated financial statements include the accounts of the Company and our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior-year amounts have been reclassified to conform to the current year presentation.

Translation of Foreign Currencies

Our revenues and expenses transacted in foreign currencies are translated as they occur at exchange rates in effect at the time of each transaction. Realized and unrealized gains and losses on foreign currency transactions are recorded as a component of other expense (income), net on our Consolidated Statements of Operations and Comprehensive Loss. Realized and unrealized gains and losses were a gain of $1.8 million, a loss of $1.2 million, and a loss of $2.6 million for the years ended December 31, 2020, 2019, and 2018, respectively. Our assets and liabilities denominated in foreign currencies are translated at the exchange rate in effect as of the balance sheet date and are recorded as a separate component of accumulated other comprehensive loss in the shareholders' equity section of our Consolidated Balance Sheets.

Use of Estimates

The preparation of the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Estimates and assumptions are used when accounting for allowance for doubtful accounts, inventory, deferred preservation costs, acquired assets or businesses, intangible assets, deferred income taxes, commitments and contingencies (including product and tissue processing liability claims, claims incurred but not reported, and amounts recoverable from insurance companies), stock based compensation, certain accrued liabilities (including accrued procurement fees, income taxes, and financial instruments), and other items as appropriate.

Revenue Recognition

Contracts with Customers

We adopted Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers effective January 1, 2018 using the modified retrospective method applied to those contracts which were not substantially completed as of January 1, 2018. These standards provide guidance on recognizing revenue, including a five-step model to determine when revenue recognition is appropriate. The standard requires that an entity recognize revenue to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

We routinely enter into contracts with customers that include general commercial terms and conditions, notification requirements for price increases, shipping terms and, in most cases, prices for the products and services that we offer. These agreements, however, do not obligate us to provide goods or services to the customer, and there is no consideration promised to us at the onset of these arrangements. For customers without separate agreements, we have a standard list price established by geography and by currency for all products and services, and our invoices contain standard terms and conditions that are applicable to those customers where a separate agreement is not controlling. Our performance obligations are established when a customer submits a purchase order notification (in writing, electronically or verbally) for goods and services, and we accept the order. We identify performance obligations as the delivery of the requested product or service in appropriate quantities and to the location specified in the customer’s contract and/or purchase order. We generally recognize revenue upon the satisfaction of these criteria when control of the product or service has been transferred to the customer at which time we have an unconditional right to receive payment. Our prices are fixed and are not affected by contingent events that could impact the transaction price. We do not offer price concessions and do not accept payment that is less than the price stated when we accept the purchase order, except in rare credit related circumstances. We do not have any material performance obligations where we are acting as an agent for another entity.

Revenues for products, including: BioGlue, On-X products, aortic stents and stent grafts, PerClot, PhotoFix and other medical devices, are typically recognized at the time the product is shipped, at which time the title passes to the customer, and there are no further performance obligations. Revenues from consignment are recognized when the medical device is implanted. We recognize revenues for preservation services when tissue is shipped to the customer.

Our E-xtra DESIGN ENGINEERING products are specifically designed to meet specifications of a particular patient, and therefore, do not create an asset with an alternative use. We evaluate open orders for these products each reporting period, and when material, we recognize the revenue and related contract asset based on the amount of payment we believe we are entitled to at that time.

In certain limited circumstances, CardioGenesis cardiac laser consoles are provided to a customer for their use without transfer of title for evaluation purposes. We have determined that a portion of the revenue for the handpieces purchased during these evaluations constitutes revenues associated with the use of the laser console, however, these are immaterial to reported revenues.

Warranty

Our general product warranties do not extend beyond an assurance that the products or services delivered will be consistent with stated specifications and do not include separate performance obligations. Warranties included with our CardioGenesis cardiac laser products provide for annual maintenance services, which are priced separately and are recognized as revenues at the stand-alone price over the service period, whether invoiced separately or recognized based on our allocation of the transaction price.

Significant Judgments in the Application of the Guidance in ASC 606

There are no significant judgments associated with the satisfaction of our performance obligations. We generally satisfy performance obligations upon shipment of the product or service to the customer. This is consistent with the time in which the customer obtains control of the product or service. Performance obligations are also generally settled quickly after the purchase order acceptance, other than as identified for the E-xtra DESIGN ENGINEERING product, therefore, the value of unsatisfied performance obligations at the end of any reporting period is immaterial.

For performance obligations provided through our E-xtra DESIGN ENGINEERING product line, we determine the value of our enforceable right to payment based on the time required and costs incurred for design services and manufacture of the in-process device in relation to the total inputs required to complete the device.

We consider variable consideration in establishing the transaction price. Forms of variable consideration potentially applicable to our arrangements include sales returns, rebates, volume-based bonuses, and prompt pay discounts. We use historical information along with an analysis of the expected value to properly calculate and to consider the need to constrain estimates of variable consideration. Such amounts are included as a reduction to revenue from the sale of products and services in the periods in which the related revenue is recognized and adjusted in future periods as necessary.

Commissions and Contract Costs

Sales commissions are earned upon completion of each performance obligation, and therefore, are expensed when incurred. These costs are included in general, administrative, and marketing expenses in the Consolidated Statements of Operations and Comprehensive Loss. We generally do not incur incremental charges associated with securing agreements with customers which would require capitalization and recovery over the life of the agreement.

Practical Expedients

Our payment terms for sales direct to customers are substantially less than the one-year collection period that falls within the practical expedient in the determination of whether a significant financing component exists.

Shipping and Handling Charges

Fees charged to customers for shipping and handling of products and tissues are included in product and preservation service revenues. The costs for shipping and handling of products and tissues are included as a component of cost of products and cost of preservation services.

Taxes Collected from Customers

Taxes collected on the value of transaction revenue are excluded from product and service revenues and cost of sales and are accrued in current liabilities until remitted to governmental authorities.

Advertising Costs

The costs to develop, produce, and communicate our advertising are expensed as incurred and are classified as general, administrative, and marketing expenses. We record the cost to print or copy certain sales materials as a prepaid expense and amortize these costs as an advertising expense over the period they are expected to be used, typically six months to one year. The total amount of advertising expense included in our Consolidated Statements of Operations and Comprehensive Loss was $1.1 million, $1.7 million, and $732,000 for the years ended December 31, 2020, 2019, and 2018, respectively.

Stock-Based Compensation

We have stock option and stock incentive plans for employees and non-employee directors that provide for grants of restricted stock awards (“RSA”s), performance stock awards (“PSA”s), restricted stock units (“RSU”s), performance stock units (“PSU”s), and options to purchase shares of our common stock at exercise prices generally equal to the fair values of such stock at the dates of grant. We also maintain a shareholder approved Employee Stock Purchase Plan (the “ESPP”) for the benefit of our employees. The ESPP allows eligible employees the right to purchase common stock on a regular basis at the lower of 85% of the market price at the beginning or end of each offering period. The RSAs, PSAs, RSUs, PSUs, and stock options granted by us typically vest over a one to three-year period. The stock options granted by us typically expire within seven years of the grant date.

We value our RSAs, PSAs, RSUs, and PSUs based on the stock price on the date of grant. We expense the related compensation cost of RSAs, PSAs, and RSUs using the straight-line method over the vesting period. We expense the related compensation cost of PSUs based on the number of shares expected to be issued, if achievement of the performance component is probable, using a straight-line method over each vesting tranche of the award which results in accelerated recognition of expenses. The amount of compensation costs expensed related to PSUs is adjusted as needed if we deem that achievement of the performance component is no longer probable or if our expectation of the number of shares to be issued changes. We use a Black-Scholes model to value our stock option grants and expense the related compensation cost using the straight-line method over the vesting period. The fair value of our ESPP options is also determined using a Black-Scholes model and is expensed over the vesting period.

The fair value of stock options and ESPP options is determined on the grant date using assumptions for the expected term, volatility, dividend yield, and the risk-free interest rate. The expected term is primarily based on the contractual term of the option and our data related to historic exercise and post-vesting forfeiture patterns, which is adjusted based on our expectations of future results. Our anticipated volatility level is primarily based on the historic volatility of our common stock, adjusted to remove the effects of certain periods of unusual volatility not expected to recur, and adjusted based on our expectations of future volatility, for the life of the option or option group. Our model was updated to include a zero-dividend yield assumption when our quarterly dividends were discontinued after the fourth quarter of 2015, and we do not anticipate paying dividends in the future. The risk-free interest rate is based on recent U.S. Treasury note auction results with a similar life to that of the option. Our model does not include a discount for post-vesting restrictions, as we have not issued awards with such restrictions.

The period expense for our stock compensation is determined based on the valuations discussed above and forfeitures are accounted for in the period awards are forfeited.

Income Per Common Share

Income per common share is computed using the two-class method, which requires us to include unvested RSAs and PSAs that contain non-forfeitable rights to dividends (whether paid or unpaid) as participating securities in the income per common share calculation.

Under the two-class method, net income is allocated to the weighted-average number of common shares outstanding during the period and the weighted-average participating securities outstanding during the period. The portion of net income that is allocated to the participating securities is excluded from basic and dilutive net income per common share. Diluted net income per share is computed using the weighted-average number of common shares outstanding plus the dilutive effects of outstanding stock options and awards and other dilutive instruments as appropriate.

Financial Instruments

Our financial instruments include cash equivalents, restricted securities, accounts receivable, notes receivable, accounts payable, and debt obligations. We typically value financial assets and liabilities at their carrying values, such as receivables, and accounts payable due to their short-term duration, and debt obligations as they contain variable interest rates that approximate market values. Other financial instruments are recorded as discussed in the sections below.

Fair Value Measurements

We record certain financial instruments at fair value on a recurring basis, including cash equivalents, and certain restricted securities. We may make an irrevocable election to measure other financial instruments at fair value on an instrument-by-instrument basis. Fair value financial instruments are recorded in accordance with the fair value measurement framework.

We also measure certain assets and liabilities at fair value on a non-recurring basis. These non-recurring valuations include evaluating assets such as certain financial assets, long-lived assets, and non-amortizing intangible assets for impairment, allocating value to assets in an acquired asset group and applying accounting for business combinations and the initial recognition of liabilities such as contingent consideration. We use the fair value measurement framework to value these assets and labilities and report these fair values in the periods in which they are recorded or written down.

The fair value measurement framework includes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair values in their broad levels. These levels from highest to lowest priority are as follows:

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities;

Level 2: Quoted prices in active markets for similar assets or liabilities or observable prices that are based on inputs not quoted on active markets, but corroborated by market data; and

Level 3: Unobservable inputs or valuation techniques that are used when little or no market data is available.

The determination of fair value and the assessment of a measurement’s placement within the hierarchy requires judgment. Level 3 valuations often involve a higher degree of judgment and complexity. Level 3 valuations may require the use of various cost, market, or income valuation methodologies applied to our unobservable estimates and assumptions. Our assumptions could vary depending on the asset or liability valued and the valuation method used. Such assumptions could include: estimates of prices, earnings, costs, actions of market participants, market factors, or the weighting of various valuation methods. We may also engage external advisors to assist in determining fair value, as appropriate.

Although we believe that the recorded fair values of our financial instruments are appropriate, these fair values may not be indicative of net realizable value or reflective of future fair values.

Cash and Cash Equivalents

Cash equivalents consist primarily of highly liquid investments with maturity dates of three months or less at the time of acquisition. The carrying value of cash equivalents approximates fair value. We maintain depository accounts with certain financial institutions. Although these depository accounts may exceed government insured depository limits, we have evaluated the credit worthiness of these applicable financial institutions and determined the risk of material financial loss due to the exposure of such credit risk to be minimal.

Cash Flow Supplemental Disclosures

Supplemental disclosures of cash flow information for the years ended December 31 (in thousands):



	2020		2019		2018
Cash paid during the year for:
Interest	$	13,049	$	13,297	$	15,005
Income taxes		4,122		1,944		1,699

Non-cash investing and financing activities:
Issuance of common stock for Ascyrus Acquisition	$	20,000	$	--	$	--
Assets acquired in exchange for operating leases		1,864		2,604		--

Accounts Receivable and Allowance for Doubtful Accounts

Our accounts receivable are primarily from hospitals and distributors that either use or distribute our products and tissues. We assess the likelihood of collection based on a number of factors, including past transaction history and the credit worthiness of the customer, as well as the potential increased risks related to international customers and large distributors. We determine the allowance for doubtful accounts based upon specific reserves for known collection issues, as well as a non-specific reserve based upon aging buckets. We charge off uncollectable amounts against the reserve in the period in which we determine they are uncollectible. Our accounts receivable balances are reported net of allowance for doubtful accounts of $973,000 and $966,000 as of December 31, 2020 and 2019, respectively.

Inventories

Inventories are comprised of finished goods for our major product lines including: BioGlue; aortic stents and stent grafts; On-X products; CardioGenesis cardiac laser therapy laser consoles, handpieces, and accessories; PerClot; PhotoFix; other medical devices; work-in-process; and raw materials. Inventories for finished goods are valued at the lower of cost or market on a first-in, first-out basis and raw materials are valued on a moving average cost basis. Typically, upon shipment, or upon implant of a medical device on consignment, revenue is recognized, and the related inventory costs are expensed as cost of products. Cost of products also includes, as applicable, lower of cost or market write-downs and impairments for products not deemed to be recoverable and, as incurred, idle facility expense, excessive spoilage, extra freight, and re-handling costs.

Inventory costs for manufactured products consist primarily of direct labor and materials (including salary and fringe benefits, raw materials, and supplies) and indirect costs (including allocations of costs from departments that support manufacturing activities and facility allocations). The allocation of fixed production overhead costs is based on actual production levels, to the extent that they are within the range of the facility’s normal capacity. Inventory costs for products purchased for resale or manufactured under contract consist primarily of the purchase cost, freight-in charges, and indirect costs as appropriate.

We regularly evaluate our inventory to determine if the costs are appropriately recorded at the lower of cost or market value. We also evaluate our inventory for costs not deemed to be recoverable, including inventory not expected to ship prior to its expiration. Lower of cost or market value write-downs are recorded if the book value exceeds the estimated net realizable value of the inventory, based on recent sales prices at the time of the evaluation. Impairment write-downs are recorded based on the book value of inventory deemed to be impaired. Actual results may differ from these estimates. Write-downs of inventory are expensed as cost of products, and these write-downs are permanent impairments that create a new cost basis, which cannot be restored to its previous levels if our estimates change.

We recorded write-downs to our inventory totaling $1.7 million, $601,000, and $212,000 for the years ended December 31, 2020, 2019, and 2018, respectively. The 2020 write-down is primarily related to JOTEC inventory, On-X ascending aortic prosthesis (“AAP”) inventory and BioGlue inventory not expected to ship prior to the expiration date. The 2019 write-down is primarily related to PerClot inventory not expected to ship prior to the expiration date. The 2018 write-down is primarily related to On-X AAP inventory not expected to ship prior to the expiration date and the disposal of obsolete surgical sealant product packaging materials.

Deferred Preservation Costs

Deferred preservation costs include costs of cardiac and vascular tissues available for shipment, tissues currently in active processing, and tissues held in quarantine pending release to implantable status. By federal law, human tissues cannot be bought or sold; therefore, the tissues we preserve are not held as inventory. The costs we incur to procure and process cardiac and vascular tissues are instead accumulated and deferred. Deferred preservation costs are stated at the lower of cost or market value on a first-in, first-out basis and are deferred until revenue is recognized. Upon shipment of tissue to an implanting facility, revenue is recognized, and the related deferred preservation costs are expensed as cost of preservation services. Cost of preservation services also includes, as applicable, lower of cost or market write-downs and impairments for tissues not deemed to be recoverable, and includes, as incurred, idle facility expense, excessive spoilage, extra freight, and re-handling costs.

The calculation of deferred preservation costs involves judgment and complexity and uses the same principles as inventory costing. Donated human tissue is procured from deceased human donors by organ and tissue procurement organizations (“OPOs”) and tissue banks, that consign the tissue to us for processing, preservation, and distribution. Deferred preservation costs consist primarily of the procurement fees charged by the OPOs and tissue banks, direct labor and materials (including salary and fringe benefits, laboratory supplies and expenses, and freight-in charges), and indirect costs (including allocations of costs from support departments and facility allocations). Fixed production overhead costs are allocated based on actual tissue processing levels, to the extent that they are within the range of the facility’s normal capacity.

These costs are then allocated among the tissues processed during the period based on cost drivers, such as the number of donors or number of tissues processed. We apply a yield estimate to all tissues in process and in quarantine to estimate the portion of tissues that will ultimately become implantable. We estimate quarantine and in process yields based on our experience and reevaluate these estimates periodically. Actual yields could differ significantly from our estimates, which could result in a change in tissues available for shipment and could increase or decrease the balance of deferred preservation costs. These changes could result in additional cost of preservation services expense or could increase per tissue preservation costs, which would impact gross margins on tissue preservation services in future periods.

We regularly evaluate our deferred preservation costs to determine if the costs are appropriately recorded at the lower of cost or market value. We also evaluate our deferred preservation costs for costs not deemed to be recoverable, including tissues not expected to ship prior to the expiration date of their packaging. Lower of cost or market value write-downs are recorded if the tissue processing costs incurred exceed the estimated market value of the tissue services, based on recent average service fees at the time of the evaluation. Impairment write-downs are recorded based on the book value of tissues deemed to be impaired. Actual results may differ from these estimates. Write-downs of deferred preservation costs are expensed as cost of preservation services, and these write-downs are permanent impairments that create a new cost basis, which cannot be restored to its previous levels if our estimates change.

We recorded write-downs to our deferred preservation costs totaling $1.7 million, $787,000, and $437,000 for the years ended December 31, 2020, 2019, and 2018, respectively, due primarily to tissues not expected to ship prior to the expiration date of the packaging. In addition, write-offs during for the year ended December 31, 2020 included $826,000 of non-conforming tissues resulting from contaminated saline solution.

Property and Equipment

Property and equipment is stated at cost. Depreciation is provided over the estimated useful lives of the assets, generally three to ten years, on a straight-line basis. Leasehold improvements are amortized on a straight-line basis over the remaining lease term at the time the assets are capitalized or the estimated useful lives of the assets, whichever is shorter.

Depreciation expense for the years ended December 31 is as follows (in thousands):



	2020		2019		2018
Depreciation expense	$	6,948	$	7,467	$	7,303

Goodwill and Other Intangible Assets

Our intangible assets consist of goodwill, acquired technology, customer lists and relationships, patents, trademarks, and other intangible assets, as discussed in Note 7. Our goodwill is attributable to a segment or segments of our business, as appropriate, as the related acquired business that generated the goodwill is integrated into our operations. Upon divestiture of a component of our business, the goodwill related to the operating segment is allocated to the divested business using the relative fair value allocation method.

Our definite lived intangible assets consist of acquired technologies, customer lists and relationships, distribution and manufacturing rights and know-how, patents, and other intangible assets. We amortize our definite lived intangible assets over their expected useful lives using the straight-line method, which we believe approximates the period of economic benefits of the related assets. Our indefinite lived intangible assets do not amortize but are instead subject to periodic impairment testing as discussed in “Impairments of Long-Lived Assets and Non-Amortizing Intangible Assets” below.

Impairments of Long-Lived Assets and Non-Amortizing Intangible Assets

We assess the potential impairment of our property and equipment and amortizing intangible long-lived assets to be held and used whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors that could trigger an impairment review include, but are not limited to, the following:

Significant underperformance relative to expected historical or projected future operating results;

Significant negative industry or economic trends;

Significant decline in our stock price for a sustained period; or

Significant decline in our market capitalization relative to net book value.

If we determine that an impairment review is necessary, we will evaluate the assets or asset groups by comparing their carrying values to the sum of the undiscounted future cash flows expected to result from their use and eventual disposition. If the carrying values exceed the future cash flows, then the asset or asset group is considered impaired, and we will write down the value of the asset or asset group. For the years ended December 31, 2020, 2019, and 2018 we did not experience any factors that indicated that an impairment review of our long-lived assets was warranted.

We evaluate our goodwill and other non-amortizing intangible assets for impairment on an annual basis during the fourth quarter of the year, and, if necessary, during interim periods if factors indicate that an impairment review is warranted. As of October 31, 2020 and 2019, our non-amortizing intangible assets consisted of goodwill, in-process research and development, acquired procurement contracts and agreements, and trademarks. We performed an analysis of our non-amortizing intangible assets as of October 31, 2020 and 2019 and determined that the fair value of the assets and the fair value of the reporting unit more likely than not exceeded their associated carrying values and were, therefore, not impaired. We will continue to evaluate the recoverability of these non-amortizing intangible assets.

Accrued Procurement Fees

Donated tissue is procured from deceased human donors by OPOs and tissue banks, which consign the tissue to us for processing, preservation, and distribution. We reimburse the OPOs and tissue banks for their costs to recover the tissue and include these costs as part of deferred preservation costs, as discussed above. We accrue estimated procurement fees due to the OPOs and tissue banks at the time tissues are received based on contractual agreements between us and the OPOs and tissue banks.

Leases

We have operating and finance lease obligations resulting from the lease of land and buildings that comprise our corporate headquarters and various manufacturing facilities; leases related to additional manufacturing, office, and warehouse space; leases on Company vehicles; and leases on a variety of office and other equipment, as discussed in Note 9. Certain of our leases contain escalation clauses, rent concessions, and renewal options for additional periods.

In February 2016 the FASB amended its ASC and created a new Topic 842, Leases. The final guidance requires lessees to recognize a right-of-use asset and a lease liability for all long-term leases at the commencement date and recognize expenses on their statements of income similar to the former Topic 840, Leases. We adopted ASC 842, Leases effective January 1, 2019 using the modified retrospective approach, which allows application of the standard at the adoption date rather than at the beginning of the earliest comparative period presented. Therefore, no changes were made to the 2018 financial statements.

The adoption of this standard resulted in the recognition of operating lease liability with a net present value of $22.7 million, and corresponding right-of-use assets obtained in the same amount, at January 1, 2019. The leases recognized were calculated using a weighted average discount rate of 5.5% and a weighted average remaining lease term of six years. In addition, deferred rent obligations of approximately $2.4 million recognized under prior lease rules were offset against the corresponding right-of-use asset and will be reflected in amortization over the remaining life of the lease. Our leases had remaining lease terms of one year up to 11 years, some of which had options to extend the leases for up to 29 years and one lease contained a termination option with a two year notice requirement. The adoption of the new leasing standard had no significant impact on covenants or other provisions of our current term and revolver loan facility agreements.

We exercised judgment in the adoption of the new leasing standard, including the determination of whether a financial arrangement includes a lease and in determining the appropriate discount rates to be applied to leases based on our general collateralized credit standing and the geographical market considerations impacting lease rates across all locations. When available, we used the implicit discount rate in the lease contract to discount lease payments to present value. If an implicit discount rate was not available in the lease contract, we used our incremental borrowing rate. We elected the package of practical expedients permitted under the transition guidance of the new leasing standard which includes a provision that allows us to carry forward the historical lease classification of identified leasing arrangements and not reassess (i) classification for any existing leases, (ii) whether any expired or existing agreements are or contain a lease, or (iii) whether any initial direct costs qualified for capitalization. We have also elected the practical expedients that allow us to omit leases with initial terms of 12 months or less from our balance sheet, which are expensed on a straight-line basis over the life of the lease. We have elected not to separate lease and non-lease components for future leases.

Our operating and finance lease liabilities result from the lease of land and buildings that comprise our corporate headquarters, various manufacturing facilities and related space, leases on company vehicles, and leases on a variety of office and other equipment. Our leases do not include terms or conditions which would result in variable lease payments other than for small office equipment leases with an additional charge for volume of usage. These incremental payments are excluded from our calculation of lease liability and the related right-of-use asset. We do not include option terms in the determination of lease liabilities and the related right-of-use assets unless we determine at lease commencement that the exercise of the option is reasonably certain. Our leases do not contain residual value guarantee provisions or other restrictions or financial covenant provisions.

Debt Issuance Costs

Debt issuance costs related to our term loan and line of credit are capitalized and reported net of the current and long-term debt or as a prepaid asset when there are no outstanding borrowings. If there are unamortized debt issuance costs related to our line of credit but only borrowings on the term loan, these debt issuance costs will be combined with the debt issuance costs related to the term loan and reported net of the current and long-term debt for the term loan. We amortize debt issuance costs to interest expense on our term loan using the effective interest method over the life of the debt agreement. We amortize debt issuance costs to interest expense on our line of credit on a straight-line basis over the life of the debt agreement. Debt issuance costs related to our convertible debt agreement were allocated between the debt and equity component of the agreement. Debt issuance costs allocated to the debt component are amortized using the effective interest rate method as a direct deduction from the recorded debt issuance costs allocated to debt. The portion of debt issuance costs allocated to equity are recorded in Additional paid-in-capital on our Consolidated Balance Sheets.

Liability Claims

In the normal course of business, we are made aware of adverse events involving our products and tissues. Future adverse events could ultimately give rise to a lawsuit against us, and liability claims may be asserted against us in the future based on past events that we are not aware of at the present time. We maintain claims-made insurance policies to mitigate our financial exposure to product and tissue processing liability claims. Claims-made insurance policies generally cover only those asserted claims and incidents that are reported to the insurance carrier while the policy is in effect. Thus, a claims-made policy does not generally represent a transfer of risk for claims and incidents that have been incurred but not reported to the insurance carrier during the policy period. Any punitive damage components of claims are uninsured.

We engage external advisors to assist us in estimating our liability and any related amount recoverable under our insurance policies as of each balance sheet date. We use a frequency-severity approach to estimate our unreported product and tissue processing liability claims, whereby projected losses are calculated by multiplying the estimated number of claims by the estimated average cost per claim. The estimated claims are determined based on the reported claim development method and the Bornhuetter-Ferguson method using a blend of our historical claim experience and industry data. The estimated cost per claim is calculated using a lognormal claims model blending our historical average cost per claim with industry claims data. We use a number of assumptions in order to estimate the unreported loss liability including: the future claim reporting time lag, the frequency of reported claims, the average cost per claim, and the maximum liability per claim. We believe that the assumptions we use provide a reasonable basis for our calculation. However, the accuracy of the estimates is limited by various factors, including, but not limited to, our specific conditions, uncertainties surrounding the assumptions used, and the scarcity of industry data directly relevant to our business activities. Due to these factors, actual results may differ significantly from our assumptions and from the amounts accrued.

We accrue our estimate of unreported product and tissue processing liability claims as a component of Other long-term liabilities and record the related recoverable insurance amounts as a component of Other long-term assets. The amounts recorded represent our estimate of the probable losses and anticipated recoveries for unreported claims related to products sold and services performed prior to the balance sheet date.

Legal Contingencies

We accrue losses from a legal contingency when the loss is both probable and reasonably estimable. The accuracy of our estimates of losses for legal contingencies is limited by uncertainties surrounding litigation. Therefore, actual results may differ significantly from the amounts accrued, if any. We accrue for legal contingencies as a component of accrued expenses and/or other long-term liabilities. Gains from legal contingencies are recorded when the contingency is resolved.

Legal Fees

We expense the costs of legal services, including legal services related to product and tissue processing liability claims and legal contingencies, as they are incurred. Reimbursement of legal fees by an insurance company or other third party is recorded as a reduction to legal expense.

Uncertain Tax Positions

We periodically assess our uncertain tax positions and recognize tax benefits if they are “more-likely-than-not” to be upheld upon review by the appropriate taxing authority. We measure the tax benefit by determining the maximum amount that has a “greater than 50 percent likelihood” of ultimately being realized. We reverse previously accrued liabilities for uncertain tax positions when audits are concluded, statutes expire, administrative practices dictate that a liability is no longer warranted, or in other circumstances, as deemed necessary. These assessments can be complex, and we often obtain assistance from external advisors to make these assessments. We recognize interest and penalties related to uncertain tax positions in other expense (income), net on our Consolidated Statements of Operations and Comprehensive Loss. See Note 8 for further discussion of our liabilities for uncertain tax positions.

Deferred Income Taxes

Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and tax return purposes. We assess the recoverability of our deferred tax assets and provide a valuation allowance against our deferred tax assets when, as a result of this analysis, we believe it is more likely than not that some portion or all of our deferred tax assets will not be realized.

Assessing the recoverability of deferred tax assets involves judgment and complexity including the consideration of prudent and feasible tax planning. Estimates and judgments used in the determination of the need for a valuation allowance and in calculating the amount of a needed valuation allowance include, but are not limited to, the following:

The ability to carry back deferred tax asset attributes to a prior tax year;

Timing of the anticipated reversal of book/tax temporary differences;

Projected future operating results;

Anticipated future state tax apportionment;

Timing and amounts of anticipated future taxable income;

Evaluation of statutory limits regarding usage of certain tax assets; and

Evaluation of the statutory periods over which certain tax assets can be utilized.

Significant changes in the factors above, or other factors, could affect our ability to use our deferred tax assets. Such changes could have a material, adverse impact on our profitability, financial position, and cash flows. We will continue to assess the recoverability of our deferred tax assets, as necessary, when we experience changes that could materially affect our prior determination of the recoverability of our deferred tax assets.

We believe that the realizability of our acquired net operating loss carryforwards will be limited in future periods due to a change in control of our former subsidiaries Hemosphere, Inc. (“Hemosphere”) and Cardiogenesis Corporation (“Cardiogenesis”), as mandated by Section 382 of the Internal Revenue Code of 1986, as amended. We believe that our acquisitions of these companies each constituted a change in control as defined in Section 382 and that, prior to our acquisition, Hemosphere had experienced other equity ownership changes that should be considered such a change in control. The deferred tax assets recorded on our Consolidated Balance Sheets exclude amounts that we expect will not be realizable due to changes in control. A portion of the acquired net operating loss carryforwards is related to state income taxes for which we believe it is more likely than not, that some will not be realized. Therefore, we recorded a valuation allowance against these state net operating loss carryforwards. In addition, during the year, the realizability of a portion of our net operating loss carryforwards and other deferred tax assets was limited. We recorded a valuation allowance against these deferred tax assets.

Valuation of Acquired Assets or Businesses

As part of our corporate strategy, we are seeking to identify and capitalize upon acquisition opportunities of complementary product lines and companies. We evaluate and account for acquired patents, licenses, distribution rights, and other tangible or intangible assets as the purchase of an asset or asset group, or as a business combination, as appropriate. The determination of whether the purchase of a group of assets should be accounted for as an asset group or as a business combination requires judgment based on the weight of available evidence.

For the purchase of an asset group, we allocate the cost of the asset group, including transaction costs, to the individual assets purchased based on their relative estimated fair values. In-process research and development acquired as part of an asset group is expensed upon acquisition.

We account for business combinations using the acquisition method. Under this method, the allocation of the purchase price is based on the fair value of the tangible and identifiable intangible assets acquired and the liabilities assumed as of the date of the acquisition. The excess of the purchase price over the estimated fair value of the tangible net assets and identifiable intangible assets is recorded as goodwill. The identifiable intangible assets typically consist of developed technology, trade names, customer relationships, and in-process research and development costs. Transaction costs related to business combinations are expensed as incurred. In-process research and development acquired as part of a business combination is accounted for as an indefinite-lived intangible asset until the related research and development project gains regulatory approval or is discontinued.

We typically engage external advisors to assist us in determining the fair value of acquired asset groups or business combinations, using valuation methodologies such as: the excess earnings, the discounted cash flow, Monte Carlo, or the relief from royalty methods. The determination of fair value in accordance with the fair value measurement framework requires significant judgments and estimates, including, but not limited to: timing of product life cycles, estimates of future revenues, estimates of profitability for new or acquired products, cost estimates for new or changed manufacturing processes, estimates of the cost or timing of obtaining regulatory approvals, estimates of the success of competitive products, and discount rates and represent level 3 measurements. We, in consultation with our advisors, make these estimates based on our prior experiences and industry knowledge. We believe that our estimates are reasonable, but actual results could differ significantly from our estimates. A significant change in our estimates used to value acquired asset groups or business combinations could result in future write-downs of tangible or intangible assets acquired by us and, therefore, could materially impact our financial position and profitability. If the value of the liabilities assumed by us, including contingent liabilities, is determined to be significantly different from the amounts previously recorded in purchase accounting, we may need to record additional expenses or write-downs in future periods, which could materially impact our financial position and profitability.

New Accounting Pronouncements

Recently Adopted

As of January 1, 2020 we adopted the Accounting Standards Codification (“ASC”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The purpose of Update No. 2016-13 is to replace the current incurred loss impairment methodology for financial assets measured at amortized cost with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information, including forecasted information, to develop credit loss estimates. Update No. 2016-13 is effective for annual periods beginning after December 15, 2019. The adoption of ASU 2016-13 did not result in a material effect on the Company’s financial condition, results of operations, or cash flows.

As of January 1, 2019 we adopted the ASC Topic 842, Leases (“ASC 842”). The final guidance requires lessees to recognize a right-of-use asset and a lease liability for all leases (with the exception of short-term leases) at the commencement date and recognize expenses on their income statements similar to former Topic 840, Leases. We used the modified retrospective approach, which allows application of the standard at the adoption date rather than at the beginning of the earliest comparative period presented. The adoption of this standard resulted in the recognition of operating lease agreements with a net present value of $22.7 million and corresponding right-of-use assets obtained in the same amount at January 1, 2019. See Note 9 for further discussion of leases.

As of January 1, 2018 we adopted ASU No. 2014-09, Revenue from Contracts with Customers and the additional related ASUs (“ASC 606”). These standards provide guidance on recognizing revenue, including a five-step model to determine when revenue recognition is appropriate. ASC 606 provides that we recognize revenue to depict the transfer of control of promised goods or services to our customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. We used the modified retrospective method applied to those contracts that were not substantially completed as of January 1, 2018. As a result of the adoption, we recorded an immaterial adjustment to increase retained earnings to recognize the impact of contract assets under the new revenue recognition guidance.

Adoption of ASC 606 did not have a material impact on our consolidated financial statements. See Note 13 for further discussion of revenue recognition.

Not Yet Effective

In August 2020 the FASB issued ASC Update No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”). The update simplifies the accounting for convertible instruments by eliminating two accounting models (i.e., the cash conversion model and beneficial conversion feature mode) and reducing the number of embedded conversion features that could be recognized separately from the host contract. ASU 2020-06 also enhances transparency and improves disclosures for convertible instruments and earnings per share guidance. ASU 2020-06 is effective for annual reporting periods beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. This update permits the use of either the modified retrospective or fully retrospective method of transition. We anticipate early adopting this guidance as of January 1, 2021 and are in the process of evaluating the effect this adoption on our financial position and results of operations.

Acquisition Of Ascyrus

12 Months Ended

Dec. 31, 2020

Acquisition Of Ascyrus [Abstract]

Acquisition of Ascyrus

2. Acquisition of Ascyrus

Overview

On September 2, 2020, we entered into a Securities Purchase Agreement (the “Ascyrus Agreement”) to acquire 100% of the outstanding equity interests of Ascyrus Medical LLC, (“Ascyrus”). Ascyrus has developed the Ascyrus Medical Dissection Stent (“AMDS”) hybrid prothesis, the world’s first aortic arch remodeling device for use in the treatment of acute Type A aortic dissections.

Under the terms of the Ascyrus Agreement, we will pay an aggregate of up to $200.0 million in consideration, consisting of: (i) a cash payment of approximately $60.0 million and the issuance of $20.0 million in shares of CryoLife common stock, in each case, were delivered at the closing of the acquisition, (ii) if the U.S. Food and Drug Administration (the “FDA”) approves an Investigational Device Exemption (“IDE”) application for the AMDS, a cash payment of $10.0 million and the issuance of $10.0 million in shares of CryoLife common stock, (iii) if the FDA approves a Premarket Approval (“PMA”) application submitted for the AMDS, a cash payment of $25.0 million, (iv) if regulatory approval of the AMDS is obtained in Japan on or before June 30, 2027, a cash payment of $10.0 million, (v) if regulatory approval of the AMDS is obtained in China on or before June 30, 2027, a cash payment of $10.0 million and (vi) a potential additional consideration cash payment capped up to $55.0 million (or up to $65.0 million to $75.0 million if the Japanese or Chinese approvals are not secured on or before June 30, 2027 and those approval milestone payments are added to the potential additional consideration cash payment cap) calculated as two times the incremental worldwide sales of the AMDS (or any other acquired technology or derivatives of such acquired technology) outside of the European Union during the three-year period following the date the FDA approves a Premarket Approval application submitted for the AMDS.

Accounting for the Transaction

Upon closing of the acquisition on September 2, 2020, we paid $83.1 million consisting of $63.1 million in cash consideration, and $20.0 million in shares of CryoLife common stock. The number of shares issued was based on a 10-day moving volume weighted average closing price of a share of CryoLife common stock as of the date immediately prior to closing, resulting in an issuance of 991,800 shares of CryoLife common stock.

As part of the acquisition, we may be required to pay additional consideration in cash and equity up to $120.0 million to the former shareholders of Ascyrus upon the achievement of certain milestones and the sales-based additional earnout described above. The fair value of the total potential purchase consideration of $200.0 million was calculated to be $138.5 million, which includes total purchase consideration, as well as the contingent consideration liability discussed below. Our preliminary allocation of the purchase consideration was allocated to Ascyrus’s tangible and identifiable intangible assets acquired and liabilities assumed, based on their estimated fair values as of September 2, 2020.

We recorded the contingent consideration liability of $16.4 million and $43.5 million in Current liabilities and Other long-term liabilities as of December 31, 2020, respectively, in the Consolidated Balance Sheets, representing the estimated fair value of future potential payments. The fair value of the contingent consideration liability was estimated by discounting to present value the contingent payments expected to be made based on a probability-weighted scenario approach. We applied a discount rate based on our unsecured credit spread and the term commensurate risk-free rate to the additional consideration to be paid, and then applied a risk-based estimate of the probability of achieving each scenario to calculate the fair value of the contingent consideration. This fair value measurement was based on unobservable inputs, including management estimates and assumptions about the future achievement of milestones and future estimate of revenues, and is, therefore, classified as Level 3 within the fair value hierarchy presented in Note 4. We will remeasure this liability at each reporting date and will record changes in the fair value of the contingent consideration in General, administrative, and marketing expenses on the Consolidated Statements of Operations and Comprehensive Loss. Increases or decreases in the fair value of the contingent consideration liability can result from changes in passage of time, change in discount rates, changes in the timing and amount of our revenue estimates, and changes in the timing and expectation of regulatory approvals.

We performed an assessment of the fair value of the contingent consideration as of December 31, 2020 and recorded a $4.5 million fair value adjustment in General, administrative, and marketing expenses on the Consolidated Statements of Operations and Comprehensive Loss, as a result of this assessment.

We recorded $63.4 million of preliminary goodwill, of which $62.1 million was deductible for tax purposes, based on the amount by which the total purchase consideration price exceeded the fair value of the net assets acquired and liabilities assumed. Goodwill from this transaction primarily relates to synergies expected from the acquisition and has been allocated to our Medical Devices segment. The estimated allocation of assets acquired and liabilities assumed is based on the information available to us as of December 31, 2020. We are completing our procedures related to the purchase price allocation and if information regarding these values is received that would result in a material adjustment to the values recorded, we will recognize the adjustment, which may include the recognition of additional expenses or other allocation adjustments, in the period this determination is made.

The preliminary purchase consideration allocated as of September 2, 2020 consisted of the following (in thousands):


Consideration
Cash paid for acquisition	$	63,136
Common stock issued		20,000
Contingent consideration		55,407
Fair value of total consideration	$	138,543

Purchase Price Allocation
Cash and cash equivalents	$	4,017
Intangible assets		72,600
Net other assets/liabilities acquired		(1,431)
Goodwill		63,357
Net assets acquired	$	138,543

We incurred transaction costs of $888,000 for the twelve months ended December 31, 2020, respectively, primarily related to the acquisition, which included, among other costs, expenses related to legal and professional fees. These costs were expensed as incurred and were primarily recorded as general, administrative, and marketing expenses on our Consolidated Statements of Operations and Comprehensive Loss.

Pro forma financial information related to the Ascyrus Agreement has not been provided as it is not material to our consolidated results of operations. The results of operations of the Ascyrus acquisition are included in our results of operations from the date of acquisition and were not significant for the year ended December 31, 2020.

Agreements With Endospan

12 Months Ended

Dec. 31, 2020

Agreements With Endospan [Abstract]

Agreements With Endospan

3. Agreements with Endospan

Exclusive Distribution Agreement and Securities Purchase Option Agreement

On September 11, 2019 CryoLife, Inc.’s wholly owned subsidiary, JOTEC, entered into an exclusive distribution agreement (“Endospan Distribution Agreement”) with Endospan Ltd. (“Endospan”), an Israeli corporation, pursuant to which JOTEC obtained exclusive distribution rights for Endospan’s Nexus^TM stent graft system (“NEXUS”) and accessories in certain countries in Europe in exchange for a fixed distribution fee of $9.0 million paid in September 2019.

CryoLife also entered into a securities purchase option agreement (“Endospan Option Agreement”) with Endospan for $1.0 million paid in September 2019. The Endospan Option Agreement provides CryoLife the option to purchase all the outstanding securities of Endospan from Endospan’s securityholders at the time of acquisition, or the option to acquire all of Endospan’s assets, in each case, for a price between $350.0 and $450.0 million before, or within a certain period of time or after FDA approval of NEXUS, with such option expiring if not exercised within 90 days after receiving notice that Endospan has received approval from the FDA for NEXUS.

Loan Agreement

CryoLife and Endospan also entered into a loan agreement (“Endospan Loan”), dated September 11, 2019, in which CryoLife agreed to provide Endospan a secured loan of up to $15.0 million to be funded in three tranches of $5.0 million each.

The first tranche of the Endospan Loan was funded upon execution of the agreement in September 2019. During September 2020, we funded the second tranche payment of $5.0 million upon the certification of the NEXUS Investigational Device Exemption (“IDE”) from the FDA. The third tranche is required to be funded upon certification of enrollment of at least 50% of the required number of patients in the primary arm of the FDA approved clinical trial for NEXUS, in each case subject to Endospan’s continued compliance with the Endospan Loan and certain other conditions. If a termination fee becomes payable by Endospan under the Endospan Distribution Agreement, it will be added to the amount payable to CryoLife under the Endospan Loan.

Variable Interest Entity

We consolidate the results of a variable interest entity ("VIE") when it is determined that we are the primary beneficiary. Based on our initial evaluation of Endospan and the related agreements with Endospan, we determined that Endospan is a VIE. Although the arrangement with Endospan resulted in our holding a variable interest, it did not empower us to direct those activities of Endospan that most significantly impact the VIE economic performance. Therefore, we are not the primary beneficiary, and we have not consolidated Endospan into our financial results. Our payments to Endospan in September 2019 totaled $15.0 million which included a $9.0 million distribution fee, a $1.0 million securities purchase option, and $5.0 million for the first tranche of the Endospan Loan. An additional $5.0 million was funded as part of the second tranche payment described above. We evaluated Endospan for VIE classification as of December 31, 2020 and determined that Endospan meets the criteria of a non-consolidating VIE. Our payments to date, including any loans, guarantees, and other subordinated financial support related to this VIE, totaled $20.0 million as of December 31, 2020, representing our maximum exposure to loss, and were not individually significant to our consolidated financial statements.

Valuation

The agreements with Endospan were entered into concurrently and had certain terms that are interrelated. In our evaluation of the initial relative fair value of each of the Endospan agreements to determine the amount to record, we utilized discounted cash flows to estimate the fair market value for the Endospan Loan and for the Endospan Distribution Agreement. We estimated the fair value of the Endospan Option Agreement utilizing the Monte Carlo simulation. Inputs in our valuation of the Endospan agreements included cash payments and anticipated payments based on the executed agreements with Endospan, projected discounted cash flows in connection with the Endospan transaction, our expected internal rate of return and discount rates, and our assessed probability and timing of receipt of certification of certain approvals and milestones in obtaining FDA approval. Based on the initial fair value of the Endospan Loan and the relative fair values of the Endospan Distribution Agreement and Endospan Option Agreement, we recorded the Endospan Loan value of $358,000 in Other long-term assets in the Summary Consolidated Balance Sheets as of December 31, 2019. The Endospan Option Agreement was valued at $4.8 million in Other long-term assets in the Consolidated Balance Sheets as of December 31, 2020, and 2019. The Endospan Distribution Agreement was recorded at $8.0 million and $9.8 million in Other Intangibles, net in the Consolidated Balance Sheets as of December 31, 2020, and 2019, respectively.

We elected the fair value option for recording the Endospan Loan. We assess the fair value of the Endospan Loan based on quantitative and qualitative characteristics, and adjust the amount recorded to its current fair market value at each reporting period. We performed an assessment of the fair value of the Endospan Loan after funding the second tranche payment and adjusted the fair value of the Endospan Loan to $409,000 as of December 31, 2020. As a result of the fair value adjustment, we recorded an expense of $4.9 million in Other Expense on the Consolidated Statements of Operations and Comprehensive Loss during the twelve months ended December 31, 2020.

Financial Instruments

12 Months Ended

Dec. 31, 2020

Financial Instruments [Abstract]

Financial Instruments

4. Financial Instruments

A summary of financial instruments measured at fair value is as follows (in thousands):


December 31, 2020	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	11,484		--		--	$	11,484
Restricted securities:
Money market funds		546		--		--		546
Endospan Loan		--		--		409		409
Total assets	$	12,030	$	--	$	409	$	12,439

Current liabilities:
Contingent consideration		--		--		(16,430)		(16,430)

Long-term liabilities:
Contingent consideration		--		--		(43,500)		(43,500)
Total liabilities	$	--	$	--	$	(59,930)	$	(59,930)


December 31, 2019	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	1,472		--		--	$	1,472
Restricted securities:
Money market funds		528		--		--		528
Endospan Loan		--		--		358		358
Total assets	$	2,000	$	--	$	358	$	2,358

We used prices quoted from our investment advisors to determine the Level 1 valuation of our investments in money market funds. We recorded the Endospan Loan, classified as Level 3, as a result of an agreement with Endospan in September 2019. The contingent consideration component of the Ascyrus acquisition was classified as a Level 3 financial instrument. See Note 2 and Note 3 for further discussion of the Ascyrus acquisition, and the Endospan Loan, respectively. Changes in fair value of Level 3 assets and liabilities are listed in the tables below (in thousands):



		Endospan Loan			Contingent Consideration
Balance as of December 31, 2019	$	358	Balance as of December 31, 2019	$	--
Additional investment in Endospan		5,000	Fair value at acquisition		(55,407)
Change in valuation		(4,949)	Change in valuation		(4,523)
Balance as of December 31, 2020	$	409	Balance as of December 31, 2020	$	(59,930)

- 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

Cash Equivalents And Restricted Cash And Securities

12 Months Ended

Dec. 31, 2020

Cash Equivalents And Restricted Cash And Securities [Abstract]

Cash Equivalents And Restricted Cash And Securities

5. Cash Equivalents and Restricted Cash and Securities

The following is a summary of cash equivalents and marketable securities (in thousands):



			Unrealized		Estimated
			Holding		Market
December 31, 2020	Cost Basis		Gains		Value
Cash equivalents:
Money market funds	$	11,484		--	$	11,484
Restricted securities:
Money market funds		546		--		546
Total assets	$	12,030	$	--	$	12,030

			Unrealized		Estimated
			Holding		Market
December 31, 2019	Cost Basis		Gains		Value
Cash equivalents:
Money market funds	$	1,472		--	$	1,472
Restricted securities:
Money market funds		528		--		528
Total assets	$	2,000	$	--	$	2,000

As of December 31, 2020 and 2019 $546,000 and $528,000, respectively, of our money market funds were designated as short-term restricted securities due to a contractual commitment to hold the securities as pledged collateral relating primarily to international tax obligations.

There were no gross realized gains or losses on cash equivalents or restricted securities for the years ended December 31, 2020, 2019, and 2018. As of December 31, 2020 $546,000 of our restricted securities had a maturity date within three months. As of December 31, 2019 $528,000 of our restricted securities had a maturity date within three months.

Inventories And Deferred Preservation Costs

12 Months Ended

Dec. 31, 2020

Inventories And Deferred Preservation Costs [Abstract]

Inventories And Deferred Preservation Costs

6. Inventories and Deferred Preservation Costs

Inventories at December 31, 2020 and 2019 are comprised of the following (in thousands):


	2020		2019
Raw materials and supplies	$	33,625	$	21,180
Work-in-process		6,318		5,127
Finished goods		33,095		26,764
Total inventories	$	73,038	$	53,071

Deferred preservation costs at December 31, 2020 and 2019 are comprised of the following (in thousands):


	2020		2019
Cardiac tissues	$	17,374	$	15,365
Vascular tissues		19,172		17,186
Total deferred preservation costs	$	36,546	$	32,551

To facilitate product usage, we maintain consignment inventory of our On-X heart valves at domestic hospital locations and both On-X heart valves and JOTEC products at international hospital locations. We retain title and control over this consignment inventory until the device is implanted, at which time we invoice the hospital and recognize revenue. As of December 31, 2020 we had $11.9 million in consignment inventory, with approximately 47% in domestic locations and 53% in foreign locations. As of December 31, 2019 we had $12.0 million in consignment inventory, with approximately 51% in domestic locations and 49% in foreign locations.

Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill And Other Intangible Assets [Abstract]

Goodwill And Other Intangible Assets

7. Goodwill and Other Intangible Assets

Indefinite Lived Intangible Assets

As of December 31, 2020 and 2019 the carrying values of our indefinite lived intangible assets are as follows (in thousands):


	2020		2019
Goodwill	$	260,061	$	186,697
In-process R&D		2,392		2,190
Procurement contracts and agreements		2,013		2,013
Trademarks		765		844

We monitor the phases of development of our acquired in-process research and development projects, including the risks associated with further development and the amount and timing of benefits expected to be derived from the completed projects. Incremental costs associated with development are charged to expense as incurred. Capitalized costs are amortized over the estimated useful life of the developed asset once completed. Our in-process research and development projects are reviewed for impairment annually, or more frequently, if events or changes in circumstances indicate that the asset might be impaired. The company did not record any impairment of indefinite lived intangible assets during the twelve months ended December 31, 2020 and 2019.

During the twelve months ended December 31, 2019, the Company received CE Mark for the E-nside multibranch stent graft system for the endovascular treatment of thoraco-abdominal aneurysms. The company reclassed $7.4 million related to the E-nside European business from in-process research and development and into defined lived intangible assets with a useful life of 20 years.

Based on our experience with similar agreements, we believe that our acquired procurement contracts and agreements have indefinite useful lives, as we expect to continue to renew these contracts for the foreseeable future. We believe that our trademarks have indefinite useful lives as we currently anticipate that these trademarks will contribute to our cash flows indefinitely.

As of December 31, 2020 and 2019 the value of our goodwill, all of which is related to our Medical Devices segment, is as follows (in thousands):



	2020		2019
Balance as of January 1,	$	186,697	$	188,781
Ascyrus acquisition		63,357		--
Revaluation of goodwill denominated in foreign currency		10,007		(2,084)
Balance as of December 31,	$	260,061	$	186,697

Definite Lived Intangible Assets

As of December 31, 2020 and 2019 gross carrying values, accumulated amortization, and approximate amortization periods of our definite lived intangible assets are as follows (dollars in thousands):


	Gross Carrying		Accumulated		Amortization
December 31, 2020	Value		Amortization		Period
Acquired technology	$	222,182		36,091	11	–	22	Years
Customer lists and relationships		31,316		8,132	13	–	22	Years
Distribution and manufacturing rights and know-how		14,728		5,349	5	–	15	Years
Patents		3,966		3,113			17	Years
Other		3,453		1,073	4	–	5	Years


	Gross Carrying		Accumulated		Amortization
December 31, 2019	Value		Amortization		Period
Acquired technology	$	140,193		24,778	11	–	22	Years
Customer lists and relationships		31,131		6,581	13	–	22	Years
Distribution and manufacturing rights and know-how		13,826		3,005	5	–	15	Years
Patents		3,664		3,074			17	Years
Other		1,919		608	3	–	5	Years

Amortization Expense

Amortization expense recorded in general, administrative, and marketing expenses on our Consolidated Statements of Operations and Comprehensive Loss for the years ended December 31 is as follows (in thousands):



	2020		2019		2018
Amortization expense	$	13,764	$	10,850	$	10,792

As of December 31, 2020 scheduled amortization of intangible assets for the next five years is as follows (in thousands):



	2021		2022		2023		2024		2025		Total
Amortization expense	$	17,095	$	16,512	$	16,059	$	15,707	$	13,481	$	78,854

‎

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Income Taxes

8. Income Taxes

Income Tax Expense

(Loss) income before income taxes consists of the following (in thousands):


	2020		2019		2018
Domestic	$	(11,443)	$	6,369	$	4,560
Foreign		(5,731)		(4,725)		(10,951)
(Loss) income before income taxes	$	(17,174)	$	1,644	$	(6,391)

Income tax expense benefit consists of the following (in thousands):


	2020		2019		2018
Current:
Federal	$	(2,460)	$	48	$	402
State		445		80		246
Foreign		707		2,041		2,009
		(1,308)		2,169		2,657
Deferred:
Federal		1,721		(850)		(2,188)
State		384		(131)		(154)
Foreign		(1,289)		(1,264)		(3,866)
		816		(2,245)		(6,208)
Income tax benefit	$	(492)	$	(76)	$	(3,551)

Our income tax benefit in 2020, 2019, and 2018 included our federal, state, and foreign tax obligations. Our effective income tax rate was a tax benefit of 3%, 5%, and 56% for the years ended December 31, 2020, 2019, and 2018, respectively. Our income tax rate for the year ended December 31, 2020 was primary affected by excess tax benefits on stock compensation, the research and development tax credit, adjustments for prior year tax items, and releases of uncertain tax position liabilities. These tax benefits were partially offset by nondeductible executive compensation, intercompany interest expense disallowance, changes in valuation allowances on future tax assets, and nondeductible meals and entertainment expenses. Our income tax rate for the year ended December 31, 2019 was primarily affected by excess tax benefits on stock compensation, the research and development tax credit and releases of uncertain tax position liabilities. These tax benefits were partially offset by nondeductible executive compensation, intercompany interest expense disallowance, and nondeductible meals and entertainment expenses. Our income tax rate for the year ended December 31, 2018 was primarily affected by excess tax benefits on stock compensation, the research and development tax credit, and non-includable income related to the On-X settlement which increased our benefit. These tax benefits were offset by changes in valuation allowances on future tax benefits and nondeductible meals and entertainment expenses.

The income tax benefit amounts differ from the amounts computed by applying the U.S. federal statutory income tax rate of 21% for the years ended December 31, 2020, 2019, and 2018 to pretax income as a result of the following (in thousands):


	2020		2019		2018
Tax expense (benefit) at statutory rate	$	(3,606)	$	345	$	(1,340)

Increase (reduction) in income taxes resulting from:
Valuation allowance change		3,952		153		719
Nondeductible executive compensation		580		778		320
Foreign income taxes		378		425		(250)
Foreign interest disallowance		298		292		--
Nondeductible entertainment expenses		94		201		206
Foreign deferred items		(63)		365		--
Equity compensation		(204)		(1,921)		(2,081)
State income taxes, net of federal benefit		(455)		(108)		(8)
Research and development credit		(457)		(400)		(557)
Net change in uncertain tax positions		(1,115)		(360)		(154)
Other		106		154		(406)
Total income tax benefit	$	(492)	$	(76)	$	(3,551)

Deferred Taxes

We generate deferred tax assets primarily as a result of net operating losses, excess interest carryforward, accrued compensation, stock compensation, and capital leases. Our deferred tax liabilities are primarily made up of intangible assets acquired in previous years, unrealized gains and losses, and capital leases.

The tax effects of temporary differences which give rise to deferred tax assets and liabilities at December 31 are as follows (in thousands):


	2020		2019
Deferred tax assets:
Loss carryforwards	$	7,911	$	7,030
Finance and operating leases		6,880		7,497
Excess interest carryforward		2,660		4,544
Stock compensation		2,034		2,153
Accrued expenses		2,002		1,890
Property		1,397		1,147
Deferred compensation		1,326		1,107
Credit carryforwards		1,214		710
Inventory and deferred preservation costs write-downs		308		299
UNICAP		97		425
Tax benefit of tax reserves		54		52
Other		2,647		1,659
Less valuation allowance		(7,170)		(3,218)
Total deferred tax assets, net		21,360		25,295

	2020		2019
Deferred tax liabilities:
Intangible assets		(35,770)		(35,555)
Finance and operating leases		(6,617)		(7,048)
Unrealized gains and losses		(4,929)		--
Financing arrangements		(4,700)		--
Debt costs		(1,528)		(1,917)
Prepaid items		(417)		(494)
Property		--		(28)
Other		(665)		(616)
Total deferred tax liabilities		(54,626)		(45,658)

Total net deferred tax liabilities	$	(33,266)	$	(20,363)

As of December 31, 2020 we maintained a total of $7.2 million in valuation allowances against deferred tax assets, including state and federal net operating loss carryforwards, and a net deferred tax liability of $33.3 million. As of December 31, 2019 we maintained a total of $3.2 million in valuation allowances against deferred tax assets, related primarily to state and foreign net operating loss carryforwards, and a net deferred tax liability of $20.4 million.

As of December 31, 2020 we had approximately $2.4 million of federal net operating loss carryforwards related to the acquisitions of Cardiogenesis and Hemosphere that we anticipate partially utilizing before expiration, $3.4 million of state net operating loss carryforwards, that will begin to expire in 2021, approximately $2.3 million of foreign net operating loss carryforwards that will begin to expire in 2025, $1.2 million in research and development tax credit carryforwards that begin to expire in 2030, and $138,000 in credits from other jurisdictions that mostly expire in 2027.

As of December 31, 2020 we had a deferred tax asset of $2.7 million of disallowed interest expense deduction carryforwards as a result of the new interest deductibility rule imposed by the “Tax Cuts and Jobs Act” of 2017 (“Tax Act”), and modified by the CARES Act. This rule disallows interest expense to the extent it exceeds 30% of adjusted taxable income, modified to be 50% in 2019 and 2020 by the CARES Act. For the years ending December 31, 2020 and 2019 our interest deduction was limited to $15.8 million and $16.3 million, respectively. The temporary increase in the limit as a result of the CARES Act allowed us to utilize previously disallowed interest in the amounts of $2.9 million and $3.3 million in 2020 and 2019 respectively. The remaining unutilized interest deduction deferred tax asset of $2.7 million can be carried forward indefinitely.

Reinvestment of Unremitted Earnings

We intend to reinvest substantially all of the unremitted earnings of our non-U.S. subsidiaries to fund working capital, strategic investments, and debt repayment and postpone their remittance indefinitely. Accordingly, no provision for state and local taxes or foreign withholding taxes was recorded on these unremitted earnings in the accompanying Consolidated Statements of Operations and Comprehensive Loss. The Company is permanently reinvested with respect to the outside basis differences in its non-U.S. subsidiaries with the exception of one of its German subsidiaries. As of December 31, 2020 we had a deferred tax liability of $141,000 for the tax effects of this outside basis difference in its Consolidated Statements of Operations and Comprehensive Loss.

Uncertain Tax Positions

A reconciliation of the beginning and ending balances of our uncertain tax position liability, excluding interest and penalties, is as follows (in thousands):


	2020		2019		2018
Beginning balance	$	3,523	$	3,889	$	4,328
Increases related to current year tax positions		473		691		368
Decreases due to the lapsing of statutes of limitations		(1,703)		(880)		(467)
Decreases related to prior year tax positions		(238)		(154)		--
Increases (decreases) for foreign exchange differences		99		(22)		16
Increases (decreases) related to prior year tax positions		420		(1)		249
Decreases related to settlements		--		--		(605)
Ending balance	$	2,574	$	3,523	$	3,889

A reconciliation of the beginning and ending balances of our liability for interest and penalties on uncertain tax positions is as follows (in thousands):


	2020		2019		2018
Beginning balance	$	434	$	402	$	315
Accrual of interest and penalties		81		227		161
Decreases related to prior year tax positions		(254)		(195)		(74)
Ending balance	$	261	$	434	$	402

As of December 31, 2020 our uncertain tax liability of $2.8 million, including interest and penalties, was recorded as a reduction to deferred tax assets of $300,000, and a non-current liability of $2.5 million on our Consolidated Balance Sheets, all of which, except for the portion related to interest and penalties, is expected to impact our tax rate when recognized. The uncertain tax position decrease related to prior year tax positions is primarily due to the lapse of the statute of limitations in various jurisdictions. As of December 31, 2019 our total uncertain tax liability, including interest and penalties of $4.0 million, was recorded as a reduction to deferred tax assets of $300,000 and as a non-current liability of $3.7 million on our Consolidated Balance Sheets.

We believe it is reasonably possible that approximately $210,000 of our uncertain tax liability will be recognized in 2020 due to the lapsing of various federal and state and foreign statutes of limitations, of which substantially all would affect the tax rate.

Other

Our tax years 2017 and forward generally remain open to examination by the major taxing jurisdictions to which we are subject. However, certain returns from years prior to 2017, in which net operating losses and tax credits have arisen, are still open for examination by the tax authorities.

- 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 + Details

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

9. Leases

We sublease, on an operating lease basis, two unused office space facilities near our corporate office. Total annual rental income for these facilities is approximately $905,000.

On March 8, 2019 we executed a modification to extend the lease of our On-X manufacturing facilities. This modification resulted in an increase in the net present value and corresponding right-of-use asset of $3.7 million, using a discount rate of 5.83%. We have not executed any material lease arrangements which have not commenced. We do not have any related party leasing arrangements.

Supplemental consolidated balance sheet information related to leases was as follows (in thousands, except lease term and discount rate):


Operating leases:	December 31, 2020		December 31, 2019
Operating lease right-of-use assets	$	28,242	$	27,007
Accumulated amortization		(9,671)		(5,013)
Operating lease right-of-use assets, net	$	18,571	$	21,994

Current maturities of operating leases	$	5,763	$	5,487
Non-current maturities of operating leases		14,034		17,918
Total operating lease liabilities	$	19,797	$	23,405

Finance leases:
Property and equipment, at cost	$	7,620	$	7,161
Accumulated amortization		(1,905)		(1,279)
Property and equipment, net	$	5,715	$	5,882

Current maturities of finance leases	$	614	$	597
Non-current maturities of finance leases		5,300		5,415
Total finance lease liabilities	$	5,914	$	6,012

Weighted average remaining lease term (in years):
Operating leases		5.1		5.5
Finance leases		9.8		10.6

Weighted average discount rate:
Operating leases		5.2%		5.4%
Finance leases		2.0%		2.0%

Current maturities of finance leases are included as a component of Other current liabilities and non-current maturities of finance leases are included as a component of Other long-term liabilities on our Consolidated Balance Sheets. A summary of lease expenses for our finance and operating leases included in General, Administrative, and Marketing Expenses on our Consolidated Statements of Operations and Comprehensive Loss are as follows (in thousands):



	December 31, 2020		December 31, 2019
Amortization of property and equipment	$	643	$	771
Interest expense on finance leases		118		124
Total finance lease expense		761		895
Operating lease expense^a		7,145		6,624
Sublease income		(905)		(905)
Total lease expense	$	7,001	$	6,614

_____________________

^aTotal rental expense for operating leases was $6.4 million in 2018.

A summary of our supplemental cash flow information is as follows (in thousands):



Cash paid for amounts included in the measurement of lease liabilities:	2020		2019
Operating cash flows for operating leases	$	7,407	$	6,827
Financing cash flows for finance leases		653		728
Operating cash flows for finance leases		126		124

Future minimum lease payments and sublease rental income are as follows (in thousands):


	Finance		Operating		Sublease
	Leases		Leases		Income
2021	$	719	$	6,616	$	905
2022		670		4,511		305
2023		669		3,007		--
2024		666		2,758		--
2025		647		1,909		--
Thereafter		3,138		3,569		--
Total minimum lease payments	$	6,509	$	22,370	$	1,210
Less amount representing interest		595		2,573
Present value of net minimum lease payments		5,914		19,797
Less current maturities		614		5,763
Finance lease obligations, less current maturities	$	5,300	$	14,034

Debt

12 Months Ended

Dec. 31, 2020

Debt [Abstract]

Debt

10. Debt

Credit Agreement

On December 1, 2017 we entered into a credit and guaranty agreement for a $255.0 million senior secured credit facility, consisting of a $225.0 million secured term loan facility (the “Term Loan Facility”) and a $30.0 million secured revolving credit facility (“the Revolving Credit Facility” and, together with the Term Loan Facility, the “Credit Agreement”). We and each of our existing domestic subsidiaries (subject to certain exceptions and exclusions) guarantee the obligations under the Credit Agreement (the “Guarantors”). The Credit Agreement is secured by a security interest in substantially all existing and after-acquired real and personal property (subject to certain exceptions and exclusions) of us and the Guarantors.

On December 1, 2017 we borrowed the entire $225.0 million Term Loan Facility. The proceeds of the Term Loan Facility were used along with cash on hand and shares of CryoLife common stock to (i) fund the acquisition of JOTEC and its subsidiaries (the “JOTEC Acquisition”), (ii) pay certain fees and expenses related to the JOTEC Acquisition and the Credit Agreement, and (iii) pay the outstanding balance of our prior credit facility. The Revolving Credit Facility may be used for working capital, capital expenditures, acquisitions permitted under the Credit Agreement, and other general corporate purposes pursuant to the terms of the Credit Agreement.

The loan under the Term Loan Facility is repayable on a quarterly basis according to the amortization provisions set forth in the Credit Agreement. We have the right to repay the loan under the Credit Agreement in whole or in part at any time. Amounts repaid in respect of the loan under the Term Loan Facility may not be reborrowed. Amounts repaid in respect of the loan under the Revolving Credit Facility may be reborrowed. All outstanding principal and interest in respect of (i) the Term Loan Facility must be repaid on or before December 1, 2024 and (ii) the Revolving Credit Facility must be repaid on or before December 1, 2022.

In October 2018 we finalized an amendment to the Credit Agreement to reprice interest rates, resulting in a reduction in the interest rate margins over base rates on the Term Loan Facility. The loan under the Term Loan Facility bears interest, at our option, at a floating annual rate equal to either the base rate, plus a margin of 2.25%, or LIBOR, plus a margin of 3.25%. Prior to the repricing, the optional floating annual rate was equal to either the base rate plus a margin of 3.00%, or LIBOR, plus a margin of 4.00%. The loan under the Revolving Credit Facility bears interest, at our option, at a floating annual rate equal to either the base rate, plus a margin of between 3.00% and 3.25%, depending on our consolidated leverage ratio, or LIBOR, plus a margin of between 4.00% and 4.25%, depending on our consolidated leverage ratio. While a payment event of default or bankruptcy event of default exists, we are obligated to pay a per annum default rate of interest of 2.00% in excess of the interest rate otherwise payable with respect to the overdue principal amount of any loans outstanding and overdue interest payments and other overdue fees and amounts. As of December 31, 2020 the aggregate interest rate was 4.25% per annum. We are obligated to pay an unused commitment fee equal to 0.50% of the unutilized portion of the revolving loans. In addition, we are also obligated to pay other customary fees for a credit facility of this size and type.

The Credit Agreement contains certain customary affirmative and negative covenants, including covenants that limit our ability and the ability of our subsidiaries to, among other things, grant liens, incur debt, dispose of assets, make loans and investments, make acquisitions, make certain restricted payments (including cash dividends), merge or consolidate, change business or accounting or reporting practices, in each case subject to customary exceptions for a credit facility of this size and type. In addition, with respect to the Revolving Credit Facility, when the principal amount of loans outstanding thereunder is in excess of 25% of the Revolving Credit Facility, the Credit Agreement requires us to comply with a specified maximum first lien net leverage ratio.

The Credit Agreement includes certain customary events of default that include, among other things, non-payment of principal, interest, or fees; inaccuracy of representations and warranties; breach of covenants; cross-default to certain material indebtedness; bankruptcy and insolvency; and change of control. Upon the occurrence and during the continuance of an event of default, the lenders may declare all outstanding principal and accrued but unpaid interest under the Credit Agreement immediately due and payable and may exercise the other rights and remedies provided under the Credit Agreement and related loan documents.

In March 2020 partly as a precautionary measure to increase cash and maintain maximum financial flexibility during the current uncertainty in global markets resulting from the COVID-19 pandemic, we borrowed the entire amount available under our $30.0 million Revolving Credit Facility at an aggregate interest rate of 5.20%. On June 29, 2020 we used a portion of the net proceeds from the issuance of Convertible Senior Notes, as discussed below, to repay the $30.0 million outstanding under our Revolving Credit Facility.

On April 29, 2020 we entered into an amendment to our Credit Agreement. As part of the amendment we obtained a waiver of our maximum first lien net leverage ratio covenant through the end of 2020. In addition, the amendment to our Credit Agreement provides that EBITDA, for covenant testing purposes, in each quarter of 2020 will be deemed equal to a fixed value equal to our bank covenant EBITDA in the fourth quarter of 2019, when our first lien net leverage was 3.4x. As a result of these changes, we are subject to a new minimum liquidity covenant. We are also subject to restrictions on certain payments, including cash dividends. We are required to maintain a minimum liquidity of at least $12.0 million as of the last day of any month in 2020, and as of the last day of any quarter through the third quarter of 2021 when our Revolving Credit Facility is drawn in excess of 25% (or $7.5 million) of the amount available as of the last day of any fiscal quarter during that period. Beginning in 2021, if we repay borrowings under our Revolving Credit Facility to 25% or less, no financial maintenance covenants, including the minimum liquidity covenant and the maximum first lien net leverage ratio covenant, are applicable.

Convertible Senior Notes

On June 18, 2020 we issued $100.0 million aggregate principal amount of 4.25% convertible senior notes with a maturity date of July 1, 2025 (the “Convertible Senior Notes”). The net proceeds from this offering, after deducting initial purchasers’ discounts and costs directly related to this offering, were approximately $96.5 million. The Convertible Senior Notes may be settled in cash, stock, or a combination thereof, solely at our discretion. Our current intent is to settle in cash the principal amount outstanding and any note conversion value over the principal amount with shares of our common stock. The initial conversion rate of the Convertible Senior Notes is 42.6203 shares per $1,000 principal amount, which is equivalent to a conversion price of approximately $23.46 per share, subject to adjustments. We use the treasury stock method for assumed conversion of the Convertible Senior Notes to compute the weighted average shares of common stock outstanding for diluted earnings per share.

The conversion feature of the Convertible Senior Notes required bifurcation from the notes and was initially accounted for as an equity instrument classified to stockholders’ equity, which resulted in recognizing $16.4 million in additional paid-in-capital, net of tax of $4.7 million, during the twelve months ended December 31, 2020. The interest expense recognized on the Convertible Senior Notes includes approximately $4.2 million for the aggregate of the contractual coupon interest, the accretion of the debt discount, and the amortization of the debt issuance costs as of twelve months ended December 31, 2020. Interest on the Convertible Senior Notes began accruing upon issuance and is payable semi-annually.

Holders of the Convertible Senior Notes may convert their notes at their option at any time prior to January 1, 2025 but only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on September 30, 2020 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (ii) during the five business day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each such trading day; (iii) we give a notice of redemption with respect to any or all of the notes, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or (iv) upon the occurrence of specified corporate events. On or after January 1, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their notes at any time, regardless of the foregoing circumstances.

We cannot redeem the Convertible Senior Notes before July 5, 2023. We can redeem them on or after July 5, 2023, in whole or in part, at our option, if the last reported sale price per share of our common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption. We may redeem for cash all or part of the Convertible Senior Notes at a redemption price equal to 100% of the principal amount of the redeemable Convertible Senior Notes, plus accrued and unpaid interest to, but excluding, the redemption date. No principal payments are due on the Convertible Senior Notes prior to maturity. Other than restrictions relating to certain fundamental changes and consolidations, mergers or asset sales and customary anti-dilution adjustments, the Convertible Senior Notes do not contain any financial covenants and do not restrict us from conducting significant restructuring transactions or issuing or repurchasing any of its other securities. As of December 31, 2020, we are not aware of any current events or market conditions that would allow holders to convert the Convertible Senior Notes. We have used a portion of the proceeds to pay off the $30.0 million outstanding under our Revolving Credit Facility and finance the Ascyrus transaction and anticipate using the remaining funds for general corporate purposes.

Government Supported Bank Debt

In June 2015 JOTEC obtained two loans from Sparkasse Zollernalb, which are government sponsored by the Kreditanstalt für Wiederaufbau Bank (KFW). Both KFW loans have a term of nine years and the interest rates are 2.45% and 1.40%.

The short-term and long-term balances of our term loans are as follows (in thousands):


	As of December 31,
	2020		2019
Term loan balance	$	218,250	$	220,500
Convertible senior notes		79,555		--
2.45% Sparkasse Zollernalb (KFW Loan 1)		886		1,061
1.40% Sparkasse Zollernalb (KFW Loan 2)		1,457		1,615
Total loan balance		300,148		223,176
Less unamortized loan origination costs		(8,485)		(7,441)
Net borrowings		291,663		215,735
Less short-term loan balance		(1,195)		(1,164)
Long-term loan balance	$	290,468	$	214,571

At December 31, 2020 the aggregate maturities of long-term debt for the next five years is as follows (in thousands):


	2021		2022		2023		2024		2025		Thereafter		Total
Maturities	$	2,829	$	2,829	$	2,829	$	211,875	$	100,231	$	-	$	320,593

Our aggregate maturity schedule is subject to change due to a provision within the Credit Agreement that requires us to make annual prepayments based on an excess cash flow calculation.

Interest Expense

Total interest expense was $16.7 million, $14.9 million, and $15.8 million in 2020, 2019, and 2018, respectively. Interest expense includes interest on debt and uncertain tax positions in all periods.

Commitments And Contingencies

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies [Abstract]

Commitments And Contingencies

11. Commitments and Contingencies

Liability Claims

At December 31, 2020 and 2019 our unreported loss liability was $1.9 million. As of December 31, 2020 and 2019, the related insurance recoverable amounts were $974,000 and $935,000, respectively. We accrue our estimate of unreported product and tissue processing liability claims as other long-term liabilities and record the related recoverable insurance amounts as other long-term assets. Further analysis indicated that the liability as of December 31, 2020 could be estimated to be as high as $4.0 million, after including a reasonable margin for statistical fluctuations calculated based on actuarial simulation techniques.

Employment Agreements

The employment agreement of our Chairman, President, and Chief Executive Officer (“CEO”), Mr. J. Patrick Mackin, provides for a severance payment, which would become payable upon the occurrence of certain employment termination events, including termination by us without cause.

PerClot Technology

On September 28, 2010 we entered into a worldwide distribution agreement (the “Distribution Agreement”) and a license and manufacturing agreement (the “License Agreement”) with Starch Medical, Inc. (“SMI”), for PerClot, a polysaccharide hemostatic agent used in surgery. The Distribution Agreement has a term of 15 years, but we can terminate it for any reason before the expiration date by providing 180 days’ notice. The Distribution Agreement also contains minimum purchase requirements that expire upon the termination of the Distribution Agreement or following U.S. regulatory approval for PerClot. Separate and apart from the terms of the Distribution Agreement, pursuant to the License Agreement, as amended by a September 2, 2011 technology transfer agreement, we can manufacture and sell PerClot, assuming appropriate regulatory approvals, in the U.S. and certain other jurisdictions and may be required to pay royalties to SMI at certain rates on net revenues of products.

We may make additional contingent payments to SMI of up to $1.0 million if certain U.S. regulatory and certain commercial milestones are achieved.

We are conducting our pivotal clinical trial to gain approval to commercialize PerClot for surgical indications in the U.S. Enrollment was completed in January 2019. We anticipate Premarket Approval (“PMA”) submission to the U.S. Food and Drug Administration (“FDA”) during the third quarter of 2021.

As of December 31, 2020 we had $1.5 million in prepaid royalties, $1.8 million in net intangible assets, and $1.2 million in property and equipment, net on our Consolidated Balance Sheets related to the PerClot product line. If we do not ultimately pursue or receive FDA approval to commercialize PerClot in the U.S., these assets could be materially impaired in future periods.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Employee Benefit Plans [Abstract]

Employee Benefit Plans

12. Employee Benefit Plans

401(k) Plan

We have a 401(k) savings plan (“401(k) Plan”) providing retirement benefits to all employees who have completed at least three months of service. We made matching contributions of 100% of each participant's contribution for up to 3.5% of each participant’s salary in 2020 and 2019 and 3.0% in 2018. Our contributions approximated $1.9 million, $1.6 million, and $1.4 million for the years ended 2020, 2019, and 2018, respectively. We may make discretionary contributions to the 401(k) Plan; however, no discretionary contributions were made in any of the past three years.

Deferred Compensation Plan

Our Deferred Compensation Plan (“Deferred Plan”) allows certain of our employees to defer receipt of a portion of their salary and cash bonus. The Deferred Plan provides for tax-deferred growth of deferred compensation. Pursuant to the terms of the Deferred Plan, we agree to return the deferred amounts plus gains and losses, based on investment fund options chosen by each respective participant, to the plan participants upon distribution. All deferred amounts and deemed earnings thereon are vested at all times. We have no current plans to match any contributions. Amounts owed to plan participants are unsecured obligations of the Company. We have established a rabbi trust in which it will make contributions to fund our obligations under the Deferred Plan. Pursuant to the terms of the trust, we will be required to make contributions each year to fully match our obligations under the Deferred Plan. The trust’s funds are primarily invested in Company Owned Life Insurance (“COLI”), and we plan to hold the policies until the deaths of the insured.

Our deferred compensation liabilities are recorded as a component of other current liabilities or long-term deferred compensation liabilities, as appropriate, based on anticipated distribution dates. The cash surrender value of COLI is recorded in Other long-term assets. Changes in the value of participant accounts and changes in the cash surrender value of COLI are recorded as part of our operating expenses and are subject to our normal allocation of expenses to inventory and deferred preservation costs.

Revenue Recognition

12 Months Ended

Dec. 31, 2020

Revenue Recognition [Abstract]

Revenue Recognition

13. Revenue Recognition

Sources of Revenue

We have identified the following revenues disaggregated by revenue source:

Domestic Hospitals – direct sales of products and preservation services.

International Hospitals – direct sales of products and preservation services.

International Distributors – generally these contracts specify a geographic area that the distributor will service, terms and conditions of the relationship, and purchase targets for the next calendar year.

CardioGenesis Cardiac Laser Console Trials and Sales – CardioGenesis cardiac trialed laser consoles are delivered under separate agreements.

For the years ended December 31, 2020, 2019, and 2018 the sources of revenue were as follows (in thousands):


		2020		2019		2018
Domestic hospitals	$	137,810		144,538	$	138,432
International hospitals		80,524		85,241		81,203
International distributors		34,429		40,427		36,989
CardioGenesis cardiac laser therapy		464		6,016		6,217
Total sources of revenue	$	253,227	$	276,222	$	262,841

Also see segment and geographic disclosure in Note 17 below.

Contract Balances

We may generate contract assets during the pre-delivery design and manufacturing stage of E-xtra DESIGN ENGINEERING product order fulfillment. We assess the balance related to any arrangements in process and determine if the enforceable right to payment creates a material contract asset requiring disclosure. No material arrangements in process existed as of December 31, 2020 and 2019.

We also incur contract obligations on general customer purchase orders that have been accepted but unfulfilled. Due to the short duration of time between order acceptance and delivery of the related product or service, we have determined that the balance related to these contract obligations is generally immaterial at any point in time. We monitor the value of orders accepted but unfulfilled at the close of each reporting period to determine if disclosure is appropriate. The value of orders accepted but unfulfilled as of December 31, 2020 and 2019 was not material.

- 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=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Stock Compensation

12 Months Ended

Dec. 31, 2020

Stock Compensation [Abstract]

Stock Compensation

14. Stock Compensation

Overview

We are currently authorized to grant and have available for grant the following number of shares under our stock plans as of December 31, 2020 and 2019:



	Authorized	Available for Grant
Plan	Shares	2020	2019
1996 Discounted Employee Stock Purchase Plan, as amended	1,900,000	150,000	234,000
2009 Equity and Cash Incentive Plan	7,570,000	52,000	2,100,000
2020 Equity and Cash Incentive Plan	4,105,000	4,094,000	--
Total	13,575,000	4,296,000	2,334,000

During 2020 the Shareholders approved a new 2020 Equity and Cash Incentive Plan and funded it with 2.7 million of newly issuable shares. On August 11, 2020 4.1 million shares were registered under the 2020 ECIP, consisting of the newly issuable shares as well as 1.4 million of the shares that remained available for grant under the 2009 ECIP as of that date.

During 2019 the Company amended the 2009 Equity and Cash Incentive Plan to increase the authorized shares under the plan by 1.9 million shares. Upon the exercise of stock options or grants of RSAs, PSAs, RSUs, or PSUs, we may issue the required shares out of authorized but unissued common stock or out of treasury stock, at our discretion.

Stock Awards

In 2020 the Compensation Committee of our Board of Directors (the “Committee”) authorized awards from approved stock incentive plans of RSUs to certain employees, RSAs to non-employee Directors, and RSAs and PSUs to certain Company officers, which, counting PSUs at target levels, together totaled 335,000 shares and had an aggregate grant date market value of $8.3 million. If the highest performance threshold is met, the PSU granted in 2020 represented the right to receive up to 150% of the target number of shares of common stock. The performance component of the PSU awards granted in 2020 is based on attaining specified levels of adjusted earnings before interest, taxes, depreciation, and amortization, (“EBITDA”), as defined in the PSU grant documents, for the 2020 calendar year. Our actual 2020 EBIDTA performance was below the threshold required for any payouts under the 2020 PSU plan which resulted in a $1.1 million reversal of expense in the fourth quarter of 2020. In February 2021 the Committee used structured discretion to determine that the 2020 PSUs were earned and should be paid out at 100% of target resulting in a modification of the award which will result in additional stock compensation expense beginning in 2021 related to these performance awards.

In 2019 the Committee authorized awards from approved stock incentive plans of RSAs to non-employee directors, RSUs to certain employees, and RSAs and PSUs to certain Company officers, which, counting PSUs at target levels, together totaled 507,000 shares and had an aggregate grant date market value of $15.0 million. Two types of PSUs were granted in 2019, an annual grant with a one-year performance period (“Annual PSU”) and a special Long-Term Incentive Program PSU grant (“LTIP”), which has multiple performance periods over a five-year period. If the highest performance threshold is met, the Annual PSU granted in 2019 represents the right to receive up to 150% of the target number of shares of common stock. The performance component of the Annual PSU awards granted in 2019 is based on attaining specified levels of EBITDA, as defined in the Annual PSU grant documents, for the 2019 calendar year. The Annual PSU granted in 2019 earned approximately 83% of the target number of shares. If the highest performance thresholds are met, the PSUs granted in 2019 under the LTIP represent the right to receive up to 288%, and up to 192% for a certain key executive, of the target number of shares of common stock. The performance component of the LTIP awards granted in 2019 is based on attaining specified levels of adjusted revenue growth and gross margin, as defined in the LTIP grant document, for the years 2019 through 2023. During 2020 we determined that the threshold performance under the first performance period (2019 through 2021) of the LTIP was unlikely to be achieved which resulted in a reversal of $1.9 million in expense in the fourth quarter of 2020.

In 2018 the Committee authorized awards from approved stock incentive plans of RSAs to non-employee Directors, RSUs to certain employees, and RSAs and PSUs to certain Company officers, which, counting PSUs at target levels, together totaled 328,000 shares of common stock and had an aggregate grant date market value of $7.5 million. The performance component of PSU awards granted in 2018 was based on attaining specified levels of adjusted EBITDA, as defined in the PSU grant documents, for the 2018 calendar year. The PSUs granted in 2018 earned approximately 80% of the target number of shares.

A summary of stock grant activity for the years ended December 31, 2020, 2019, and 2018 for RSAs, RSUs, and PSUs, based on the target number of shares, is as follows:


		Weighted
		Average
		Grant Date
RSAs	Shares	Fair Value
Unvested at December 31, 2017	383,000	$	12.81
Granted	128,000		23.83
Vested	(136,000)		12.96
Forfeited	(49,000)		12.07
Unvested at December 31, 2018	326,000		17.19
Granted	93,000		29.77
Vested	(149,000)		14.45
Forfeited	(27,000)		20.53
Unvested at December 31, 2019	243,000		23.30
Granted	123,000		24.70
Vested	(108,000)		20.66
Forfeited	--		-
Unvested at December 31, 2020	258,000		25.08


		Weighted
		Average
		Remaining		Aggregate
		Contractual		Intrinsic
RSUs	Shares	Term in years		Value
Unvested at December 31, 2017	286,000		1.26	$	5,477,000
Granted	115,000
Vested	(99,000)
Forfeited	(51,000)
Unvested at December 31, 2018	251,000		1.05		7,123,000
Granted	103,000
Vested	(101,000)
Forfeited	(27,000)
Unvested at December 31, 2019	226,000		0.93		6,131,000
Granted	141,000
Vested	(118,000)
Forfeited	(37,000)
Unvested at December 31, 2020	212,000		1.02		5,015,000

Vested and expected to vest	212,000		1.02	$	5,015,000


		Weighted
		Average
		Remaining		Aggregate
		Contractual		Intrinsic
PSUs	Shares	Term in years		Value
Unvested at December 31, 2017	169,000		0.71	$	3,236,000
Granted	104,000
Vested	(109,000)
Forfeited	(17,000)
Unvested at December 31, 2018	147,000		0.72		4,179,000
Granted	322,000
Vested	(87,000)
Forfeited	(35,000)
Unvested at December 31, 2019	347,000		2.33		9,400,000
Granted	70,000
Vested	(55,000)
Forfeited	(31,000)
Unvested at December 31, 2020	331,000		1.64		7,805,000

Vested and expected to vest	331,000		1.64	$	7,805,000

During the years ended December 31, 2020, 2019, and 2018 the total fair value of $6.7 million, $9.8 million, and $7.3 million, respectively, in combined RSAs, PSAs, RSUs, and PSUs vested.

Stock Options

The Compensation Committee of our Board of Directors authorized grants of stock options from approved stock incentive plans to certain Company officers and employees totaling 212,000, 169,000, and 219,000 shares in 2020, 2019, and 2018, respectively, with exercise prices equal to the stock prices on the respective grant dates.

A summary of our stock option activity for the years ended December 31, 2020, 2019, and 2018 is as follows:



				Weighted
				Average
		Weighted		Remaining		Aggregate
		Average		Contractual		Intrinsic
	Shares	Exercise Price		Term in years		Value
Outstanding at December 31, 2017	1,741,000		10.19		3.64		15,598,000
Granted	219,000		21.55
Exercised	(578,000)		7.59
Forfeited	(49,000)		14.10
Outstanding at December 31, 2018	1,333,000		13.04		3.93		20,439,000
Granted	169,000		29.62
Exercised	(334,000)		9.87
Forfeited	(39,000)		22.64
Outstanding at December 31, 2019	1,129,000		16.14		3.67		12,763,000
Granted	212,000		26.24
Exercised	(88,000)		10.49
Forfeited	(12,000)		27.36
Outstanding at December 31, 2020	1,241,000		18.16		3.38		8,215,000

Vested and expected to vest	1,241,000	$	18.16		3.38	$	8,215,000
Exercisable at December 31, 2020	874,000	$	14.71		2.45	$	8,094,000

Other information concerning stock options for the years ended December 31 is as follows:



	2020		2019		2018
Weighted-average fair value of options granted	$	8.64	$	11.47	$	8.38
Intrinsic value of options exercised		1,267,000		6,519,000		9,961,000

Employees purchased common stock totaling 83,000, 61,000, and 83,000 shares in 2020, 2019, and 2018, respectively, through our ESPP.

Stock Compensation Expense

The following weighted-average assumptions were used to determine the fair value of options:



	2020		2019		2018
	Stock	ESPP	Stock	ESPP	Stock	ESPP
	Options	Options	Options	Options	Options	Options
Expected life of options	5.00 Years	0.50 Years	5.00 Years	0.50 Years	5.00 Years	0.50 Years
Expected stock price volatility	0.35	0.52	0.40	0.39	0.40	0.34
Risk-free interest rate	1.41%	1.00%	2.54%	2.35%	2.64%	1.73%

The following table summarizes stock compensation expense (in thousands):



	2020		2019		2018
RSA, PSA, RSU, and PSU expense	$	5,288	$	7,451	$	5,076
Stock option and ESPP option expense		2,216		1,960		1,732
Total stock compensation expense	$	7,504	$	9,411	$	6,808

Included in the total stock compensation expense, as applicable in each period, were expenses related to RSAs, PSAs, RSUs, PSUs, and stock options issued in each respective year, as well as those issued in prior periods that continue to vest during the period, and compensation related to our ESPP. These amounts were recorded as stock compensation expense and were subject to or normal allocation of expenses to inventory costs and deferred preservation costs. We capitalized $592,000, $612,000, and $484,000 in the years ended December 31, 2020, 2019, and 2018, respectively, of the stock compensation expense into our inventory costs and deferred preservation costs.

As of December 31, 2020 we had total unrecognized compensation costs of $7.8 million related to RSAs, RSUs, and PSUs and $2.1 million related to unvested stock options. As of December 31, 2020 this expense is expected to be recognized over a weighted-average period of 1.75 years for RSUs, 1.58 years for stock options, 0.98 years for RSAs, and 1.64 years for PSUs.
‎

(Loss) Income Per Common Share

12 Months Ended

Dec. 31, 2020

(Loss) Income Per Common Share [Abstract]

(Loss) Income Per Common Share

15. (Loss) Income Per Common Share

The following table sets forth the computation of basic and diluted (loss) income per common share (in thousands, except per share data):


Basic (loss) income per common share	2020		2019		2018
Net (loss) income	$	(16,682)	$	1,720	$	(2,840)
Net loss (income) allocated to participating securities		111		(12)		27
Net (loss) income allocated to common shareholders	$	(16,571)	$	1,708	$	(2,813)

Basic weighted-average common shares outstanding		37,861		37,118		36,412
Basic (loss) income per common share	$	(0.44)	$	0.05	$	(0.08)

Diluted (loss) income per common share	2020		2019		2018
Net (loss) income	$	(16,682)	$	1,720	$	(2,840)
Net loss (income) allocated to participating securities		111		(12)		27
Net (loss) income allocated to common shareholders	$	(16,571)	$	1,708	$	(2,813)

Basic weighted-average common shares outstanding		37,861		37,118		36,412
Effect of dilutive options and awards^a		-		742		-
Diluted weighted-average common shares outstanding		37,861		37,860		36,412
Diluted (loss) income per common share	$	(0.44)	$	0.05	$	(0.08)

_____________________

^aWe excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares, because the inclusion of these stock options would be antidilutive to (loss) income per common share. For the year ended December 31, 2020 and 2018 all stock options and awards were excluded from the calculation of weighted-average common shares outstanding as these would be antidilutive to the net loss. For the years ended December 31, 2019 stock options to purchase 131,000 shares were excluded from the calculation of diluted weighted-average common shares outstanding.

Transactions With Related Parties

12 Months Ended

Dec. 31, 2020

Transactions With Related Parties [Abstract]

Transactions With Related Parties

16. Transactions with Related Parties

A member of our Board of Directors and a shareholder of the Company, who joined our Board of Directors during 2018, is the CEO of a hospital that generated product and preservation services revenues of $378,000, $341,000, and $296,000 in 2020, 2019, and 2018, respectively.

Segment And Geographic Information

12 Months Ended

Dec. 31, 2020

Segment And Geographic Information [Abstract]

Segment and Geographic Information

17. Segment and Geographic Information

We have two reportable segments organized according to our products and services: Medical Devices and Preservation Services. The Medical Devices segment includes external revenues from product sales of BioGlue, aortic stents and stent grafts, On-X products, CardioGenesis cardiac laser therapy, PerClot and PhotoFix. The Preservation Services segment includes external services revenues from the preservation of cardiac and vascular tissues. There are no intersegment revenues.

The primary measure of segment performance, as viewed by our management, is segment gross margin, or net external revenues less cost of products and preservation services. We do not segregate assets by segment; therefore, asset information is excluded from the segment disclosures below.

The following table summarizes revenues, cost of products and preservation services, and gross margins for our operating segments (in thousands):


	2020		2019		2018
Revenues:
Medical devices	$	179,299	$	197,246	$	187,394
Preservation services		73,928		78,976		75,447
Total revenues		253,227		276,222		262,841

Cost of products and preservation services:
Medical devices		50,128		55,022		53,772
Preservation services		35,315		38,187		36,085
Total cost of products and preservation services		85,443		93,209		89,857

Gross margin:
Medical devices		129,171		142,224		133,622
Preservation services		38,613		40,789		39,362
Total gross margin	$	167,784	$	183,013	$	172,984

Net revenues by product for the years ended December 31, 2020, 2019, and 2018 were as follows (in thousands):


	2020		2019		2018
Products:
BioGlue	$	62,068	$	68,611	$	66,660
Aortic stents and stent grafts		61,663		64,974		63,341
On-X		48,053		50,096		44,832
PhotoFix		4,169		3,754		2,577
PerClot		2,882		3,795		3,767
CardioGenesis cardiac laser therapy		464		6,016		6,217
Total products		179,299		197,246		187,394

Preservation services:
Cardiac tissue		37,893		40,879		35,683
Vascular tissue		35,852		38,097		39,764
NeoPatch		183		--		--
Total preservation services		73,928		78,976		75,447

Total revenues	$	253,227	$	276,222	$	262,841

Net revenues by geographic location attributed to countries based on the location of the customer for the years ended December 31, 2020, 2019, and 2018 were as follows (in thousands):


	2020		2019		2018
U.S.	$	138,274	$	150,553	$	144,651
International		114,953		125,669		118,190
Total revenues	$	253,227	$	276,222	$	262,841

For the years ended December 31, 2020, 2019 and 2018, revenues attributed to customers in Germany accounted for 10% of total revenues.

At December 31, 2020 and 2019 54% and 57% of our long-lived assets were held in the U.S., where the corporate headquarters and a portion of our manufacturing facilities are located. Our long-lived international assets were $15.1 million and $14.1 million as of December 31, 2020, and 2019, respectively of which 97% were located in Hechingen, Germany. At December 31, 2020 and 2019 $260.1 million and $186.7 million, respectively, of our goodwill was allocated entirely to our Medical Devices segment.

- 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=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events On January 6, 2021 we entered into an agreement to extend the lease of our headquarters facility located in Kennesaw, Georgia. We are in the process of evaluating the impact of this transaction, but we believe that it will result in the recording of a material right-of-use asset and lease liability on the Consolidated Balance Sheets.

Summary Of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Summary Of Significant Accounting Policies [Abstract]

Nature Of Business

Nature of Business

Basis Of Presentation And Principles Of Consolidation

Basis of Presentation and Principles of Consolidation

Translation Of Foreign Currencies

Translation of Foreign Currencies

Use Of Estimates

Use of Estimates

Revenue Recognition

Contracts with Customers

Warranty

Significant Judgments in the Application of the Guidance in ASC 606

Commissions and Contract Costs

Practical Expedients

Shipping and Handling Charges

Taxes Collected from Customers

Taxes collected on the value of transaction revenue are excluded from product and service revenues and cost of sales and are accrued in current liabilities until remitted to governmental authorities.

Advertising Costs

Stock-Based Compensation

The period expense for our stock compensation is determined based on the valuations discussed above and forfeitures are accounted for in the period awards are forfeited.

Income Per Common Share

Financial Instruments

Fair Value Measurements

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities;

Level 2: Quoted prices in active markets for similar assets or liabilities or observable prices that are based on inputs not quoted on active markets, but corroborated by market data; and

Level 3: Unobservable inputs or valuation techniques that are used when little or no market data is available.

Although we believe that the recorded fair values of our financial instruments are appropriate, these fair values may not be indicative of net realizable value or reflective of future fair values.

Cash And Cash Equivalents

Cash and Cash Equivalents

Cash Flow Supplemental Disclosures

Supplemental disclosures of cash flow information for the years ended December 31 (in thousands):



	2020		2019		2018
Cash paid during the year for:
Interest	$	13,049	$	13,297	$	15,005
Income taxes		4,122		1,944		1,699

Non-cash investing and financing activities:
Issuance of common stock for Ascyrus Acquisition	$	20,000	$	--	$	--
Assets acquired in exchange for operating leases		1,864		2,604		--

Accounts Receivable And Allowance For Doubtful Accounts

Accounts Receivable and Allowance for Doubtful Accounts

Inventories

Deferred Preservation Costs

Property And Equipment

Property and Equipment

Depreciation expense for the years ended December 31 is as follows (in thousands):



	2020		2019		2018
Depreciation expense	$	6,948	$	7,467	$	7,303

Goodwill And Other Intangible Assets

Goodwill and Other Intangible Assets

Impairments Of Long-Lived Assets And Non-Amortizing Intangible Assets

Impairments of Long-Lived Assets and Non-Amortizing Intangible Assets

Significant underperformance relative to expected historical or projected future operating results;

Significant negative industry or economic trends;

Significant decline in our stock price for a sustained period; or

Significant decline in our market capitalization relative to net book value.

Accrued Procurement Fees

Uncertain Tax Positions

Deferred Income Taxes

The ability to carry back deferred tax asset attributes to a prior tax year;

Timing of the anticipated reversal of book/tax temporary differences;

Projected future operating results;

Anticipated future state tax apportionment;

Timing and amounts of anticipated future taxable income;

Evaluation of statutory limits regarding usage of certain tax assets; and

Evaluation of the statutory periods over which certain tax assets can be utilized.

Valuation Of Acquired Assets Or Businesses

Valuation of Acquired Assets or Businesses

New Accounting Pronouncements

Recently Adopted

Adoption of ASC 606 did not have a material impact on our consolidated financial statements. See Note 13 for further discussion of revenue recognition.

Not Yet Effective

Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Summary Of Significant Accounting Policies [Abstract]

Schedule Of Supplemental Disclosures Of Cash Flow Information



	2020		2019		2018
Cash paid during the year for:
Interest	$	13,049	$	13,297	$	15,005
Income taxes		4,122		1,944		1,699

Non-cash investing and financing activities:
Issuance of common stock for Ascyrus Acquisition	$	20,000	$	--	$	--
Assets acquired in exchange for operating leases		1,864		2,604		--

Schedule Of Depreciation Expense



	2020		2019		2018
Depreciation expense	$	6,948	$	7,467	$	7,303

Acquisition Of Ascyrus (Tables)

12 Months Ended

Dec. 31, 2020

Acquisition Of Ascyrus [Abstract]

Purchase Price Allocation


Consideration
Cash paid for acquisition	$	63,136
Common stock issued		20,000
Contingent consideration		55,407
Fair value of total consideration	$	138,543

Purchase Price Allocation
Cash and cash equivalents	$	4,017
Intangible assets		72,600
Net other assets/liabilities acquired		(1,431)
Goodwill		63,357
Net assets acquired	$	138,543

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Financial Instruments [Abstract]

Summary Of Financial Instruments Measured At Fair Value


December 31, 2020	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	11,484		--		--	$	11,484
Restricted securities:
Money market funds		546		--		--		546
Endospan Loan		--		--		409		409
Total assets	$	12,030	$	--	$	409	$	12,439

Current liabilities:
Contingent consideration		--		--		(16,430)		(16,430)

Long-term liabilities:
Contingent consideration		--		--		(43,500)		(43,500)
Total liabilities	$	--	$	--	$	(59,930)	$	(59,930)


December 31, 2019	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	1,472		--		--	$	1,472
Restricted securities:
Money market funds		528		--		--		528
Endospan Loan		--		--		358		358
Total assets	$	2,000	$	--	$	358	$	2,358

Reconciliation Of Changes In Fair Value Of Level 3 Liabilities



		Endospan Loan			Contingent Consideration
Balance as of December 31, 2019	$	358	Balance as of December 31, 2019	$	--
Additional investment in Endospan		5,000	Fair value at acquisition		(55,407)
Change in valuation		(4,949)	Change in valuation		(4,523)
Balance as of December 31, 2020	$	409	Balance as of December 31, 2020	$	(59,930)

Cash Equivalents And Restricted Securities (Tables)

12 Months Ended

Dec. 31, 2020

Cash Equivalents And Restricted Cash And Securities [Abstract]

Summary Of Cash Equivalents And Restricted Securities



			Unrealized		Estimated
			Holding		Market
December 31, 2020	Cost Basis		Gains		Value
Cash equivalents:
Money market funds	$	11,484		--	$	11,484
Restricted securities:
Money market funds		546		--		546
Total assets	$	12,030	$	--	$	12,030

			Unrealized		Estimated
			Holding		Market
December 31, 2019	Cost Basis		Gains		Value
Cash equivalents:
Money market funds	$	1,472		--	$	1,472
Restricted securities:
Money market funds		528		--		528
Total assets	$	2,000	$	--	$	2,000

Inventories And Deferred Preservation Costs (Tables)

12 Months Ended

Dec. 31, 2020

Inventories And Deferred Preservation Costs [Abstract]

Schedule Of Inventories


	2020		2019
Raw materials and supplies	$	33,625	$	21,180
Work-in-process		6,318		5,127
Finished goods		33,095		26,764
Total inventories	$	73,038	$	53,071

Schedule Of Deferred Preservation Costs


	2020		2019
Cardiac tissues	$	17,374	$	15,365
Vascular tissues		19,172		17,186
Total deferred preservation costs	$	36,546	$	32,551

Goodwill And Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Other Intangible Assets [Abstract]

Schedule Of Carrying Values Of Indefinite Lived Intangible Assets


	2020		2019
Goodwill	$	260,061	$	186,697
In-process R&D		2,392		2,190
Procurement contracts and agreements		2,013		2,013
Trademarks		765		844

Schedule Of Goodwill By Reportable Segment



	2020		2019
Balance as of January 1,	$	186,697	$	188,781
Ascyrus acquisition		63,357		--
Revaluation of goodwill denominated in foreign currency		10,007		(2,084)
Balance as of December 31,	$	260,061	$	186,697

Schedule Of Gross Carrying Values, Accumulated Amortization, And Approximate Amortization Period Of Definite Lived Intangible Assets


	Gross Carrying		Accumulated		Amortization
December 31, 2020	Value		Amortization		Period
Acquired technology	$	222,182		36,091	11	–	22	Years
Customer lists and relationships		31,316		8,132	13	–	22	Years
Distribution and manufacturing rights and know-how		14,728		5,349	5	–	15	Years
Patents		3,966		3,113			17	Years
Other		3,453		1,073	4	–	5	Years


	Gross Carrying		Accumulated		Amortization
December 31, 2019	Value		Amortization		Period
Acquired technology	$	140,193		24,778	11	–	22	Years
Customer lists and relationships		31,131		6,581	13	–	22	Years
Distribution and manufacturing rights and know-how		13,826		3,005	5	–	15	Years
Patents		3,664		3,074			17	Years
Other		1,919		608	3	–	5	Years

Summary Of Amortization Expense



	2020		2019		2018
Amortization expense	$	13,764	$	10,850	$	10,792

Scheduled Amortization Of Intangible Assets For Next Five Years



	2021		2022		2023		2024		2025		Total
Amortization expense	$	17,095	$	16,512	$	16,059	$	15,707	$	13,481	$	78,854

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Schedule Of (Loss) Income Before Income Taxes


	2020		2019		2018
Domestic	$	(11,443)	$	6,369	$	4,560
Foreign		(5,731)		(4,725)		(10,951)
(Loss) income before income taxes	$	(17,174)	$	1,644	$	(6,391)

Schedule Of Income Tax Expense Benefit


	2020		2019		2018
Current:
Federal	$	(2,460)	$	48	$	402
State		445		80		246
Foreign		707		2,041		2,009
		(1,308)		2,169		2,657
Deferred:
Federal		1,721		(850)		(2,188)
State		384		(131)		(154)
Foreign		(1,289)		(1,264)		(3,866)
		816		(2,245)		(6,208)
Income tax benefit	$	(492)	$	(76)	$	(3,551)

Schedule Of Effective Income Tax Rate Reconciliation


	2020		2019		2018
Tax expense (benefit) at statutory rate	$	(3,606)	$	345	$	(1,340)

Increase (reduction) in income taxes resulting from:
Valuation allowance change		3,952		153		719
Nondeductible executive compensation		580		778		320
Foreign income taxes		378		425		(250)
Foreign interest disallowance		298		292		--
Nondeductible entertainment expenses		94		201		206
Foreign deferred items		(63)		365		--
Equity compensation		(204)		(1,921)		(2,081)
State income taxes, net of federal benefit		(455)		(108)		(8)
Research and development credit		(457)		(400)		(557)
Net change in uncertain tax positions		(1,115)		(360)		(154)
Other		106		154		(406)
Total income tax benefit	$	(492)	$	(76)	$	(3,551)

Schedule Of Deferred Tax Assets And Liabilities


	2020		2019
Deferred tax assets:
Loss carryforwards	$	7,911	$	7,030
Finance and operating leases		6,880		7,497
Excess interest carryforward		2,660		4,544
Stock compensation		2,034		2,153
Accrued expenses		2,002		1,890
Property		1,397		1,147
Deferred compensation		1,326		1,107
Credit carryforwards		1,214		710
Inventory and deferred preservation costs write-downs		308		299
UNICAP		97		425
Tax benefit of tax reserves		54		52
Other		2,647		1,659
Less valuation allowance		(7,170)		(3,218)
Total deferred tax assets, net		21,360		25,295

	2020		2019
Deferred tax liabilities:
Intangible assets		(35,770)		(35,555)
Finance and operating leases		(6,617)		(7,048)
Unrealized gains and losses		(4,929)		--
Financing arrangements		(4,700)		--
Debt costs		(1,528)		(1,917)
Prepaid items		(417)		(494)
Property		--		(28)
Other		(665)		(616)
Total deferred tax liabilities		(54,626)		(45,658)

Total net deferred tax liabilities	$	(33,266)	$	(20,363)

Schedule Of Uncertain Tax Position Liability And Liability For Interest And Penalties On Uncertain Tax Positions


	2020		2019		2018
Beginning balance	$	3,523	$	3,889	$	4,328
Increases related to current year tax positions		473		691		368
Decreases due to the lapsing of statutes of limitations		(1,703)		(880)		(467)
Decreases related to prior year tax positions		(238)		(154)		--
Increases (decreases) for foreign exchange differences		99		(22)		16
Increases (decreases) related to prior year tax positions		420		(1)		249
Decreases related to settlements		--		--		(605)
Ending balance	$	2,574	$	3,523	$	3,889

A reconciliation of the beginning and ending balances of our liability for interest and penalties on uncertain tax positions is as follows (in thousands):


	2020		2019		2018
Beginning balance	$	434	$	402	$	315
Accrual of interest and penalties		81		227		161
Decreases related to prior year tax positions		(254)		(195)		(74)
Ending balance	$	261	$	434	$	402

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule Of Supplemental Balance Sheet Information Related To Leases


Operating leases:	December 31, 2020		December 31, 2019
Operating lease right-of-use assets	$	28,242	$	27,007
Accumulated amortization		(9,671)		(5,013)
Operating lease right-of-use assets, net	$	18,571	$	21,994

Current maturities of operating leases	$	5,763	$	5,487
Non-current maturities of operating leases		14,034		17,918
Total operating lease liabilities	$	19,797	$	23,405

Finance leases:
Property and equipment, at cost	$	7,620	$	7,161
Accumulated amortization		(1,905)		(1,279)
Property and equipment, net	$	5,715	$	5,882

Current maturities of finance leases	$	614	$	597
Non-current maturities of finance leases		5,300		5,415
Total finance lease liabilities	$	5,914	$	6,012

Weighted average remaining lease term (in years):
Operating leases		5.1		5.5
Finance leases		9.8		10.6

Weighted average discount rate:
Operating leases		5.2%		5.4%
Finance leases		2.0%		2.0%

Summary Of Lease Costs



	December 31, 2020		December 31, 2019
Amortization of property and equipment	$	643	$	771
Interest expense on finance leases		118		124
Total finance lease expense		761		895
Operating lease expense^a		7,145		6,624
Sublease income		(905)		(905)
Total lease expense	$	7,001	$	6,614

_____________________

^aTotal rental expense for operating leases was $6.4 million in 2018.

Schedule Of Supplemental Cash Flow Information Related To Leases



Cash paid for amounts included in the measurement of lease liabilities:	2020		2019
Operating cash flows for operating leases	$	7,407	$	6,827
Financing cash flows for finance leases		653		728
Operating cash flows for finance leases		126		124

Schedule Of Minimum Lease Payments For Finance, Operating, And Sublease Income Leases


	Finance		Operating		Sublease
	Leases		Leases		Income
2021	$	719	$	6,616	$	905
2022		670		4,511		305
2023		669		3,007		--
2024		666		2,758		--
2025		647		1,909		--
Thereafter		3,138		3,569		--
Total minimum lease payments	$	6,509	$	22,370	$	1,210
Less amount representing interest		595		2,573
Present value of net minimum lease payments		5,914		19,797
Less current maturities		614		5,763
Finance lease obligations, less current maturities	$	5,300	$	14,034

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt [Abstract]

Schedule Of Short-Term And Long-Term Balances Of Term Loan


	As of December 31,
	2020		2019
Term loan balance	$	218,250	$	220,500
Convertible senior notes		79,555		--
2.45% Sparkasse Zollernalb (KFW Loan 1)		886		1,061
1.40% Sparkasse Zollernalb (KFW Loan 2)		1,457		1,615
Total loan balance		300,148		223,176
Less unamortized loan origination costs		(8,485)		(7,441)
Net borrowings		291,663		215,735
Less short-term loan balance		(1,195)		(1,164)
Long-term loan balance	$	290,468	$	214,571

Schedule Of Debt Maturities


	2021		2022		2023		2024		2025		Thereafter		Total
Maturities	$	2,829	$	2,829	$	2,829	$	211,875	$	100,231	$	-	$	320,593

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2020

Revenue Recognition [Abstract]

Disaggregation Of Revenue


		2020		2019		2018
Domestic hospitals	$	137,810		144,538	$	138,432
International hospitals		80,524		85,241		81,203
International distributors		34,429		40,427		36,989
CardioGenesis cardiac laser therapy		464		6,016		6,217
Total sources of revenue	$	253,227	$	276,222	$	262,841

Stock Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Stock Compensation [Abstract]

Schedule Of Shares Available For Grant



	Authorized	Available for Grant
Plan	Shares	2020	2019
1996 Discounted Employee Stock Purchase Plan, as amended	1,900,000	150,000	234,000
2009 Equity and Cash Incentive Plan	7,570,000	52,000	2,100,000
2020 Equity and Cash Incentive Plan	4,105,000	4,094,000	--
Total	13,575,000	4,296,000	2,334,000

Schedule Of Stock Grant Activity For RSAs


		Weighted
		Average
		Grant Date
RSAs	Shares	Fair Value
Unvested at December 31, 2017	383,000	$	12.81
Granted	128,000		23.83
Vested	(136,000)		12.96
Forfeited	(49,000)		12.07
Unvested at December 31, 2018	326,000		17.19
Granted	93,000		29.77
Vested	(149,000)		14.45
Forfeited	(27,000)		20.53
Unvested at December 31, 2019	243,000		23.30
Granted	123,000		24.70
Vested	(108,000)		20.66
Forfeited	--		-
Unvested at December 31, 2020	258,000		25.08

Schedule Of Stock Grant Activity For RSUs


		Weighted
		Average
		Remaining		Aggregate
		Contractual		Intrinsic
RSUs	Shares	Term in years		Value
Unvested at December 31, 2017	286,000		1.26	$	5,477,000
Granted	115,000
Vested	(99,000)
Forfeited	(51,000)
Unvested at December 31, 2018	251,000		1.05		7,123,000
Granted	103,000
Vested	(101,000)
Forfeited	(27,000)
Unvested at December 31, 2019	226,000		0.93		6,131,000
Granted	141,000
Vested	(118,000)
Forfeited	(37,000)
Unvested at December 31, 2020	212,000		1.02		5,015,000

Vested and expected to vest	212,000		1.02	$	5,015,000

Schedule Of Stock Grant Activity For PSUs


		Weighted
		Average
		Remaining		Aggregate
		Contractual		Intrinsic
PSUs	Shares	Term in years		Value
Unvested at December 31, 2017	169,000		0.71	$	3,236,000
Granted	104,000
Vested	(109,000)
Forfeited	(17,000)
Unvested at December 31, 2018	147,000		0.72		4,179,000
Granted	322,000
Vested	(87,000)
Forfeited	(35,000)
Unvested at December 31, 2019	347,000		2.33		9,400,000
Granted	70,000
Vested	(55,000)
Forfeited	(31,000)
Unvested at December 31, 2020	331,000		1.64		7,805,000

Vested and expected to vest	331,000		1.64	$	7,805,000

Summary Of Stock Option Activity



				Weighted
				Average
		Weighted		Remaining		Aggregate
		Average		Contractual		Intrinsic
	Shares	Exercise Price		Term in years		Value
Outstanding at December 31, 2017	1,741,000		10.19		3.64		15,598,000
Granted	219,000		21.55
Exercised	(578,000)		7.59
Forfeited	(49,000)		14.10
Outstanding at December 31, 2018	1,333,000		13.04		3.93		20,439,000
Granted	169,000		29.62
Exercised	(334,000)		9.87
Forfeited	(39,000)		22.64
Outstanding at December 31, 2019	1,129,000		16.14		3.67		12,763,000
Granted	212,000		26.24
Exercised	(88,000)		10.49
Forfeited	(12,000)		27.36
Outstanding at December 31, 2020	1,241,000		18.16		3.38		8,215,000

Vested and expected to vest	1,241,000	$	18.16		3.38	$	8,215,000
Exercisable at December 31, 2020	874,000	$	14.71		2.45	$	8,094,000

Summary Of Other Information Concerning Stock Options



	2020		2019		2018
Weighted-average fair value of options granted	$	8.64	$	11.47	$	8.38
Intrinsic value of options exercised		1,267,000		6,519,000		9,961,000

Schedule Of Weighted-Average Assumptions Used To Determine The Fair Value Of Options



	2020		2019		2018
	Stock	ESPP	Stock	ESPP	Stock	ESPP
	Options	Options	Options	Options	Options	Options
Expected life of options	5.00 Years	0.50 Years	5.00 Years	0.50 Years	5.00 Years	0.50 Years
Expected stock price volatility	0.35	0.52	0.40	0.39	0.40	0.34
Risk-free interest rate	1.41%	1.00%	2.54%	2.35%	2.64%	1.73%

Summary Of Total Stock Compensation Expenses



	2020		2019		2018
RSA, PSA, RSU, and PSU expense	$	5,288	$	7,451	$	5,076
Stock option and ESPP option expense		2,216		1,960		1,732
Total stock compensation expense	$	7,504	$	9,411	$	6,808

(Loss) Income Per Common Share (Tables)

12 Months Ended

Dec. 31, 2020

(Loss) Income Per Common Share [Abstract]

Computation Of Basic And Diluted (Loss) Income Per Common Share


Basic (loss) income per common share	2020		2019		2018
Net (loss) income	$	(16,682)	$	1,720	$	(2,840)
Net loss (income) allocated to participating securities		111		(12)		27
Net (loss) income allocated to common shareholders	$	(16,571)	$	1,708	$	(2,813)

Basic weighted-average common shares outstanding		37,861		37,118		36,412
Basic (loss) income per common share	$	(0.44)	$	0.05	$	(0.08)

Diluted (loss) income per common share	2020		2019		2018
Net (loss) income	$	(16,682)	$	1,720	$	(2,840)
Net loss (income) allocated to participating securities		111		(12)		27
Net (loss) income allocated to common shareholders	$	(16,571)	$	1,708	$	(2,813)

Basic weighted-average common shares outstanding		37,861		37,118		36,412
Effect of dilutive options and awards^a		-		742		-
Diluted weighted-average common shares outstanding		37,861		37,860		36,412
Diluted (loss) income per common share	$	(0.44)	$	0.05	$	(0.08)

_____________________

Segment And Geographic Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment And Geographic Information [Abstract]

Revenues, Cost Of Products And Services, And Gross Margins For Operating Segments


	2020		2019		2018
Revenues:
Medical devices	$	179,299	$	197,246	$	187,394
Preservation services		73,928		78,976		75,447
Total revenues		253,227		276,222		262,841

Cost of products and preservation services:
Medical devices		50,128		55,022		53,772
Preservation services		35,315		38,187		36,085
Total cost of products and preservation services		85,443		93,209		89,857

Gross margin:
Medical devices		129,171		142,224		133,622
Preservation services		38,613		40,789		39,362
Total gross margin	$	167,784	$	183,013	$	172,984

Summary Of Net Revenues By Product And Service


	2020		2019		2018
Products:
BioGlue	$	62,068	$	68,611	$	66,660
Aortic stents and stent grafts		61,663		64,974		63,341
On-X		48,053		50,096		44,832
PhotoFix		4,169		3,754		2,577
PerClot		2,882		3,795		3,767
CardioGenesis cardiac laser therapy		464		6,016		6,217
Total products		179,299		197,246		187,394

Preservation services:
Cardiac tissue		37,893		40,879		35,683
Vascular tissue		35,852		38,097		39,764
NeoPatch		183		--		--
Total preservation services		73,928		78,976		75,447

Total revenues	$	253,227	$	276,222	$	262,841

Schedule Of Net Revenues By Geographic Location


	2020		2019		2018
U.S.	$	138,274	$	150,553	$	144,651
International		114,953		125,669		118,190
Total revenues	$	253,227	$	276,222	$	262,841

Summary Of Significant Accounting Policies (Narrative) (Details)		12 Months Ended
	Mar. 08, 2019 USD ($)	Dec. 31, 2020 USD ($) item	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jan. 01, 2019 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Foreign currency translation gain (loss)		$ 1,800,000	$ (1,200,000)	$ (2,600,000)
Advertising expense		1,100,000	1,700,000	732,000
Allowance for doubtful accounts		973,000	966,000
Write-down to inventory		1,700,000	601,000	212,000
Write-downs to deferred preservation costs		1,700,000	787,000	$ 437,000
Write-down to non-conforming tissues		826,000
Net present value of operating lease liability		19,797,000	23,405,000
Operating lease right-of-use assets, net		$ 18,571,000	$ 21,994,000
Weighted average discount rate	5.83%	5.20%	5.40%		5.50%
Weighted average remaining lease term		5 years 1 month 6 days	5 years 6 months		6 years
Deferred rent obligations		$ 2,400,000
Option to extend		29
Number of leases with termination option \| item		1
Operating lease, termination option, notice period requirement		2 years
Increase in net present value of right-of-use asset	$ 3,700,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Advertising expense amortization period		6 months
Estimated useful lives		3 years
Lease terms		1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Advertising expense amortization period		1 year
Estimated useful lives		10 years
Lease terms		11 years
ESPP Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP, percentage of market price for eligible employees		85.00%
RSAs, PSAs, RSUs, PSUs And Stock Options [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
RSAs, PSAs, RSUs, PSUs And Stock Options [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Stock Options [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period within grant date stock options granted typically expire		7 years
ASU 2016-09 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net present value of operating lease liability					$ 22,700,000
Operating lease right-of-use assets, net					$ 22,700,000

Summary Of Significant Accounting Policies (Schedule Of Supplemental Disclosures Of Cash Flow Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Abstract]
Interest	$ 13,049	$ 13,297	$ 15,005
Income taxes	4,122	1,944	$ 1,699
Issuance of common stock for Ascyrus Acquisition	20,000
Assets acquired in exchange for operating leases	$ 1,864	$ 2,604

Summary Of Significant Accounting Policies (Schedule Of Depreciation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Abstract]
Depreciation expense	$ 6,948	$ 7,467	$ 7,303

Acquisition Of Ascyrus (Narrative) (Details) - USD ($)		12 Months Ended
Acquisition Of Ascyrus (Narrative) (Details) - USD ($)	Sep. 02, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Noncurrent portion of contingent consideration		$ 43,500,000
Current portion of contingent consideration		16,430,000
Goodwill		260,061,000	$ 186,697,000	$ 188,781,000
General, administrative, and marketing		141,136,000	$ 143,011,000	$ 140,574,000
Following FDA Approval For AMDS [Member]
Business Acquisition [Line Items]
Aggregate amount of consideration transferred		$ 120,000,000.0
Ascyrus Medical LLC [Member]
Business Acquisition [Line Items]
Aggregate amount of consideration transferred	$ 83,100,000
Total consideration	$ 138,543,000
Equity ownership percent	100.00%
Cash consideration	$ 63,136,000
Common shares issued	991,800
Common stock value issued in business combination	$ 20,000,000
Period for weighted average closing price		10 days
Goodwill	63,357,000	$ 63,400,000
Transaction and integration costs		888,000
General, administrative, and marketing		4,500,000
Amount of goodwill deducted for tax purposes		$ 62,100,000
Fair value of total consideration	138,543,000
Ascyrus Medical LLC [Member] \| FDA Approval IDE for AMDS [Member]
Business Acquisition [Line Items]
Cash consideration	60,000,000.0
Common stock value issued in business combination	20,000,000.0
Ascyrus Medical LLC [Member] \| FDA Approval IDE for AMDS [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Aggregate amount of consideration transferred	200,000,000.0
Ascyrus Medical LLC [Member] \| FDA Approves Premarket Approval [Member]
Business Acquisition [Line Items]
Cash consideration	10,000,000.0
Common stock value issued in business combination	10,000,000.0
Ascyrus Medical LLC [Member] \| FDA Approves Premarket Approval [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Aggregate amount of consideration transferred	200,000,000.0
Ascyrus Medical LLC [Member] \| AMDS Obtained In Japan [Member]
Business Acquisition [Line Items]
Cash consideration	25,000,000.0
Ascyrus Medical LLC [Member] \| AMDS Obtained In China [Member]
Business Acquisition [Line Items]
Cash consideration	10,000,000.0
Ascyrus Medical LLC [Member] \| If Japan Or China Obtains Approval [Member]
Business Acquisition [Line Items]
Cash consideration	10,000,000.0
Ascyrus Medical LLC [Member] \| Additional Potential Cash Payment If Japan Or China Obtains Approval [Member]
Business Acquisition [Line Items]
Cash consideration	55,000,000.0
Ascyrus Medical LLC [Member] \| Additional Potential Cash Payment If Japan Or China Obtains Approval [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Cash consideration	65,000,000.0
Ascyrus Medical LLC [Member] \| Additional Potential Cash Payment If Japan Or China Obtains Approval [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Cash consideration	$ 75,000,000.0
Ascyrus Medical LLC [Member] \| Following FDA Approval For AMDS [Member]
Business Acquisition [Line Items]
Period of required contingent consideration	3 years

Acquisition Of Ascyrus (Purchase Price Allocation) (Details) - USD ($) $ in Thousands	Sep. 02, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Purchase Price Allocation
Goodwill		$ 260,061	$ 186,697	$ 188,781
Ascyrus Medical LLC [Member]
Consideration
Cash paid for acquisition	$ 63,136
Common stock issued	20,000
Contingent consideration	55,407
Fair value of total consideration	138,543
Purchase Price Allocation
Cash and cash equivalents	4,017
Intangible assets	72,600
Net other assets/liabilities acquired	(1,431)
Goodwill	63,357	$ 63,400
Net assets acquired	$ 138,543

Agreements With Endospan (Narrative) (Details)		1 Months Ended		12 Months Ended
Agreements With Endospan (Narrative) (Details)	Sep. 11, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2020 USD ($) item	Dec. 31, 2019 USD ($)
Variable Interest Entity [Line Items]
Securities purchase option agreement, expiration period				90 days
Number of tranches \| item				3
Endospan [Member]
Variable Interest Entity [Line Items]
Securities purchase option agreement	$ 1,000,000.0		$ 1,000,000.0
Per three tranches of funding	$ 5,000,000.0
Funded second tranche payment		$ 5,000,000.0
Required percentage of number of patients before third tranche of loan funding can be acquired	50.00%
Investment in VIE	$ 15,000,000.0			$ 20,000,000.0
Additional amounts		$ 5,000,000.0
Endospan loan, fair value				409,000	$ 358,000
Securities option agreement, fair value				4,800,000	4,800,000
Distribution agreements, fair value				8,000,000.0	$ 9,800,000
Expense from fair value adjustment				$ 4,900,000
Endospan [Member] \| Minimum [Member]
Variable Interest Entity [Line Items]
Option to purchase outstanding securities			350,000,000.0
Endospan [Member] \| Maximum [Member]
Variable Interest Entity [Line Items]
Option to purchase outstanding securities			$ 450,000,000.0
Secured Debt [Member] \| Endospan [Member]
Variable Interest Entity [Line Items]
Loan provided	15,000,000.0
JOTEC GmbH [Member] \| Endospan [Member]
Variable Interest Entity [Line Items]
Distribution fee	$ 9,000,000.0

Financial Instruments (Summary Of Financial Instruments Measured At Fair Value) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	$ 12,439	$ 2,358
Current contingent consideration	(16,430)
Long-term contingent consideration	(43,500)
Contingent consideration	(59,930)
Total liabilities	(59,930)
Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	11,484	1,472
Restricted securities	546	528
Endospan Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	409	358
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	12,030	2,000
Level 1 [Member] \| Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	11,484	1,472
Restricted securities	546	528
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets
Current contingent consideration
Long-term contingent consideration
Total liabilities
Level 2 [Member] \| Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents
Restricted securities
Level 2 [Member] \| Endospan Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	409	358
Current contingent consideration	(16,430)
Long-term contingent consideration	(43,500)
Total liabilities	(59,930)
Level 3 [Member] \| Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents
Restricted securities
Level 3 [Member] \| Endospan Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan	$ 409	$ 358

Financial Instruments (Reconciliation Of Changes In Fair Value Of Level 3 Liabilities) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Financial Instruments [Abstract]
Beginning balance, Endospan Loan	$ 358
Additional investment in Endospan	5,000
Change in valuation	(4,949)
Ending balance, Endospan Loan	409
Beginning balance, Contingent Consideration
Fair value at acquisition	(55,407)
Change in valuation	(4,523)
Ending balance, Contingent Consideration	$ (59,930)

Cash Equivalents And Restricted Cash And Securities (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted securities	$ 546,000	$ 528,000
Gross realized gains or losses on cash equivalents	0	0	$ 0
Money Market Funds [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted securities	546,000	528,000
Maturity Date Within Three Months [Member] \| Money Market Funds [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted securities	$ 546,000	$ 528,000
Maximum [Member] \| Maturity Date Within Three Months [Member] \| Money Market Funds [Member] \| Measurement Input, Expected Term [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted securities maturity period	3 months	3 months

Cash Equivalents And Restricted Cash And Securities (Summary Of Cash Equivalents And Restricted Securities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Line Items]
Cash Equivalents, Cost Basis	$ 61,958	$ 34,294	$ 42,236	$ 40,753
Cost Basis	12,030	2,000
Restricted Securities, Cost Basis	546	528
Unrealized Holding Gains
Estimated Market Value	12,030	2,000
Money Market Funds [Member]
Cash and Cash Equivalents [Line Items]
Cash Equivalents, Cost Basis	11,484	1,472
Restricted Securities, Cost Basis	546	528
Unrealized Holding Gains
Cash Equivalents, Estimated Market Value	11,484	1,472
Restricted Securities, Estimated Market Value	$ 546	$ 528

Inventories And Deferred Preservation Costs (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory [Line Items]
Consignment inventory	$ 11.9	$ 12.0
Domestic [Member]
Inventory [Line Items]
Consignment inventory percentage	47.00%	51.00%
Foreign [Member]
Inventory [Line Items]
Consignment inventory percentage	53.00%	49.00%

Inventories And Deferred Preservation Costs (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventories And Deferred Preservation Costs [Abstract]
Raw materials and supplies	$ 33,625	$ 21,180
Work-in-process	6,318	5,127
Finished goods	33,095	26,764
Total inventories	$ 73,038	$ 53,071

Inventories And Deferred Preservation Costs (Schedule Of Deferred Preservation Costs) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Total deferred preservation costs	$ 36,546	$ 32,551
Cardiac Tissues [Member]
Total deferred preservation costs	17,374	15,365
Vascular Tissues [Member]
Total deferred preservation costs	$ 19,172	$ 17,186

Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Impairment of indefinite lived intangible assets	$ 0	$ 0
E-nside European Business In-Process R&D To Defined Lived Intangible Assets [Member]
Reclassification		$ 7,400,000
In Process R&D [Member]
Useful life of amortizable assets, years	20 years

Goodwill And Other Intangible Assets (Schedule Of Carrying Values Of Indefinite Lived Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 260,061	$ 186,697	$ 188,781
In Process R&D [Member]
Indefinite-lived Intangible Assets [Line Items]
Total indefinite lived intangible assets	2,392	2,190
Procurement Contracts And Agreements [Member]
Indefinite-lived Intangible Assets [Line Items]
Total indefinite lived intangible assets	2,013	2,013
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Total indefinite lived intangible assets	$ 765	$ 844

Goodwill And Other Intangible Assets (Schedule Of Goodwill By Reportable Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Other Intangible Assets [Abstract]
Beginning balance	$ 186,697	$ 188,781
Ascyrus acquisition	63,357
Revaluation of goodwill denominated in foreign currency	10,007	(2,084)
Ending balance	$ 260,061	$ 186,697

Goodwill And Other Intangible Assets (Schedule Of Gross Carrying Values, Accumulated Amortization, And Approximate Amortization Period Of Definite Lived Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Acquired Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 222,182	$ 140,193
Accumulated amortization	36,091	24,778
Customer Lists And Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	31,316	31,131
Accumulated amortization	8,132	6,581
Distribution And Manufacturing Rights And Know-How [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	14,728	13,826
Accumulated amortization	5,349	3,005
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	3,966	3,664
Accumulated amortization	3,113	3,074
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	3,453	1,919
Accumulated amortization	$ 1,073	$ 608
Minimum [Member] \| Acquired Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Period	11 years	11 years
Minimum [Member] \| Customer Lists And Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Period	13 years	13 years
Minimum [Member] \| Distribution And Manufacturing Rights And Know-How [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Period	5 years	5 years
Minimum [Member] \| Other [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Period	4 years	3 years
Maximum [Member] \| Acquired Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Period	22 years	22 years
Maximum [Member] \| Customer Lists And Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Period	22 years	22 years
Maximum [Member] \| Distribution And Manufacturing Rights And Know-How [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Period	15 years	15 years
Maximum [Member] \| Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Period	17 years	17 years
Maximum [Member] \| Other [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Period	5 years	5 years

Goodwill And Other Intangible Assets (Summary Of Amortization Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill And Other Intangible Assets [Abstract]
Amortization expense	$ 13,764	$ 10,850	$ 10,792

Goodwill And Other Intangible Assets (Scheduled Amortization Of Intangible Assets For Next Five Years) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Goodwill And Other Intangible Assets [Abstract]
2021	$ 17,095
2022	16,512
2023	16,059
2024	15,707
2025	13,481
Total	$ 78,854

Income Taxes (Narrative) (Details) - USD ($)	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective income tax rate	3.00%	5.00%	56.00%
Increase in income tax benefit	$ 2,900,000	$ 3,300,000
Federal statutory income tax rate	21.00%	21.00%	21.00%
Valuation allowances against deferred tax assets	$ 7,170,000	$ 3,218,000
Net deferred tax liability	33,266,000	20,363,000
Federal net operating loss carryforwards related to the acquisitions of Cardiogenesis and Hemosphere	2,400,000
State net operating loss carryforwards	3,400,000
Foreign net operating loss carryforwards	$ 2,300,000
Operating loss carryforwards expiration date	Dec. 31, 2025
Research and development tax credit carryforwards	$ 1,200,000
Other tax credit	$ 138,000
Other tax credit expiration date	Dec. 31, 2027
Tax credit carryforwards expiration date	Dec. 31, 2030
Total uncertain tax liability including interest and penalties	$ 2,800,000	4,000,000.0
Uncertain tax liability recorded as reduction to deferred tax assets	300,000	300,000
Uncertain tax liability recorded to non-current liability	2,500,000	$ 3,700,000
Approximate amount of uncertain tax liability to be recognized	210,000,000,000
Deferred tax asset imposed by Tax Act and CARES Act	$ 2,700,000
Interest deductibility threshold	30.00%	50.00%
Interest deduction limit	$ 15,800,000	$ 16,300,000
Excess interest not deducted	2,700,000
Foreign Authority [Member]
Net deferred tax liability	$ 141,000

Income Taxes (Schedule Of (Loss) Income Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Domestic	$ (11,443)	$ 6,369	$ 4,560
Foreign	(5,731)	(4,725)	(10,951)
(Loss) income before income taxes	$ (17,174)	$ 1,644	$ (6,391)

Income Taxes (Schedule Of Income Tax Expense Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Current: Federal	$ (2,460)	$ 48	$ 402
Current: State	445	80	246
Current: Foreign	707	2,041	2,009
Current: Income tax expense	(1,308)	2,169	2,657
Deferred: Federal	1,721	(850)	(2,188)
Deferred: State	384	(131)	(154)
Deferred: Foreign	(1,289)	(1,264)	(3,866)
Deferred: Income tax expense	816	(2,245)	(6,208)
Total income tax benefit	$ (492)	$ (76)	$ (3,551)

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Tax expense (benefit) at statutory rate	$ (3,606)	$ 345	$ (1,340)
Valuation allowance change	3,952	153	719
Nondeductible executive compensation	580	778	320
Foreign income taxes	378	425	(250)
Foreign interest disallowance	298	292
Nondeductible entertainment expenses	94	201	206
Foreign deferred items	(63)	365
Equity compensation	(204)	(1,921)	(2,081)
State income taxes, net of federal benefit	(455)	(108)	(8)
Research and development credit	(457)	(400)	(557)
Net change in uncertain tax positions	(1,115)	(360)	(154)
Other	106	154	(406)
Total income tax benefit	$ (492)	$ (76)	$ (3,551)

Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Loss carryforwards	$ 7,911	$ 7,030
Finance and operating leases	6,880	7,497
Excess interest carryforward	2,660	4,544
Stock compensation	2,034	2,153
Accrued expenses	2,002	1,890
Property	1,397	1,147
Deferred compensation	1,326	1,107
Credit carryforwards	1,214	710
Inventory and deferred preservation costs write-downs	308	299
UNICAP	97	425
Tax benefit of tax reserves	54	52
Other	2,647	1,659
Less valuation allowance	(7,170)	(3,218)
Total deferred tax assets, net	21,360	25,295
Intangible assets	(35,770)	(35,555)
Finance and operating leases	(6,617)	(7,048)
Unrealized gains and losses	(4,929)
Financing arrangements	(4,700)
Debt costs	(1,528)	(1,917)
Prepaid items	(417)	(494)
Property		(28)
Other	(665)	(616)
Total deferred tax liabilities	(54,626)	(45,658)
Total net deferred tax liabilities	$ (33,266)	$ (20,363)

Income Taxes (Schedule Of Uncertain Tax Position Liability And Liability For Interest And Penalties On Uncertain Tax Positions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Beginning balance	$ 3,523	$ 3,889	$ 4,328
Increases related to current year tax positions	473	691	368
Decreases due to the lapsing of statutes of limitations	(1,703)	(880)	(467)
Decreases related to prior year tax positions	(238)	(154)
Decreases for foreign exchange differences		(22)
Increases for foreign exchange differences	99		16
Increases related to prior year tax positions	420		249
Decreases related to prior year tax positions		(1)
Decreases related to settlements			(605)
Ending balance	2,574	3,523	3,889
Beginning Balance	434	402	315
Accrual of interest and penalties	81	227	161
Decreases related to prior year tax positions	(254)	(195)	(74)
Ending Balance	$ 261	$ 434	$ 402

Leases (Narrative) (Details)	12 Months Ended
Leases (Narrative) (Details)	Dec. 31, 2020 USD ($) property	Dec. 31, 2019 USD ($)
Leases [Abstract]
Number of subleases \| property	2
Sublease income \| $	$ 905,000	$ 905,000

Leases (Schedule Of Supplemental Balance Sheet Information Related To Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Mar. 08, 2019	Jan. 01, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 28,242	$ 27,007
Accumulated amortization	(9,671)	(5,013)
Operating lease right-of-use assets, net	18,571	21,994
Current maturities of operating leases	5,763	5,487
Non-current maturities of operating leases	14,034	17,918
Total operating lease liabilities	19,797	23,405
Finance leases, Property and equipment, at cost	7,620	7,161
Finance leases, Accumulated amortization	(1,905)	(1,279)
Finance leases, property and equipment, net	5,715	5,882
Current maturities of finance leases	614	597
Non-current maturities of finance leases	5,300	5,415
Total finance lease liabilities	$ 5,914	$ 6,012
Weighted average remaining lease term (in years): Operating leases	5 years 1 month 6 days	5 years 6 months		6 years
Weighted average remaining lease term (in years): Finance leases	9 years 9 months 18 days	10 years 7 months 6 days
Weighted average discount rate: Operating leases	5.20%	5.40%	5.83%	5.50%
Weighted average discount rate: Finance leases	2.00%	2.00%

Leases (Summary Of Lease Costs) (Details) - USD ($)

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Leases [Abstract]

Amortization of property and equipment

$ 643,000

$ 771,000

Interest expense on finance leases

118,000

124,000

Total finance lease expense

761,000

895,000

Operating lease expense

7,145,000

^[1]

6,624,000

^[1]

$ 6,400,000

Sublease income

(905,000)

Total lease expense

$ 7,001,000

$ 6,614,000

[1]	Total rental expense for operating leases was $6.4 million in 2018.

Leases (Schedule Of Supplemental Cash Flow Information Related To Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating cash flows for operating leases	$ 7,407	$ 6,827
Financing cash flows for finance leases	653	728
Operating cash flows for finance leases	$ 126	$ 124

Leases (Schedule Of Minimum Lease Payments For Finance, Operating, And Sublease Income Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Finance Leases, 2021	$ 719
Finance Leases, 2022	670
Finance Leases, 2023	669
Finance Leases, 2024	666
Finance Leases, 2025	647
Finance Leases, Thereafter	3,138
Finance Leases, Total minimum lease payments	6,509
Finance Leases, Less amount representing interest	595
Finance Leases, Present value of net minimum lease payments	5,914	$ 6,012
Finance Leases, Less current maturities	614	597
Finance lease obligations, less current maturities	5,300	5,415
Operating Leases, 2021	6,616
Operating Leases, 2022	4,511
Operating Leases, 2023	3,007
Operating Leases, 2024	2,758
Operating Leases, 2025	1,909
Operating Leases, Thereafter	3,569
Operating Leases, Total minimum lease payments	22,370
Operating Leases, Less amount representing interest	2,573
Operating Leases, Present value of net minimum lease payments	19,797	23,405
Operating Leases, Less current maturities	5,763	5,487
Operating Leases, Lease liabilities, less current maturities	14,034	$ 17,918
Sublease Income, 2021	905
Sublease Income, 2022	305
Sublease Income, Total minimum lease payments	$ 1,210

Debt (Narrative) (Details)			1 Months Ended	9 Months Ended	12 Months Ended
Debt (Narrative) (Details)	Jun. 18, 2020 USD ($) $ / shares	Apr. 29, 2020 USD ($)	Jun. 30, 2015	Sep. 30, 2018	Dec. 31, 2020 USD ($) item	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Mar. 31, 2020 USD ($)	Dec. 01, 2017 USD ($)
Line of Credit Facility [Line Items]
Term loan balance					$ 300,148,000	$ 223,176,000
Credit facility default interest rate					2.00%
Credit facility aggregate interest rate					4.25%
Credit facility commitment fee percentage					0.50%
Credit facility repayments					$ 30,000,000
Proceeds from issuance of convertible debt					100,000,000
Interest expense					16,700,000	14,900,000	$ 15,800,000
Government Sponsored Debt [Member]
Line of Credit Facility [Line Items]
Loan term			9 years
2.45% Sparkasse Zollernalb (KFW Loan 1) [Member]
Line of Credit Facility [Line Items]
Term loan balance					$ 886,000	1,061,000
Interest rate on amounts borrowed			2.45%		2.45%
1.40% Sparkasse Zollernalb (KFW Loan 2) [Member]
Line of Credit Facility [Line Items]
Term loan balance					$ 1,457,000	1,615,000
Interest rate on amounts borrowed			1.40%		1.40%
Convertible Senior Notes [Member]
Line of Credit Facility [Line Items]
Credit facility repayments					$ 30,000,000.0
Face value	$ 100,000,000.0
Interest rate on amounts borrowed	4.25%
Maturity date					Jul. 01, 2025
Proceeds from issuance of convertible debt	$ 96,500,000
Conversion ratio	42.6203
Conversion principle amount	$ 1,000
Conversion price \| $ / shares	$ 23.46
Conversion feature					$ 16,400,000
Conversion, Net of tax					4,700,000
Interest expense					$ 4,200,000
Convertible Senior Notes [Member] \| Circumstance I [Member]
Line of Credit Facility [Line Items]
Conversion trading day threshold \| item					20
Conversion consecutive trading day threshold \| item					30
Conversion percentage of stock price threshold					130.00%
Convertible Senior Notes [Member] \| Circumstance II [Member]
Line of Credit Facility [Line Items]
Conversion principle amount					$ 1,000
Conversion trading day threshold \| item					5
Conversion consecutive trading day threshold \| item					5
Conversion percentage of stock price threshold					98.00%
Convertible Senior Notes [Member] \| Circumstance After July 5, 2023 [Member]
Line of Credit Facility [Line Items]
Conversion trading day threshold \| item					20
Conversion consecutive trading day threshold \| item					30
Conversion percentage of stock price threshold					130.00%
Conversion percentage of principal amount					100.00%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit facility aggregate commitments									$ 30,000,000.0
Term loan balance					$ 79,555,000
Credit facility maturity date					Dec. 01, 2022
Credit facility outstanding balance								$ 30,000,000.0
Credit facility aggregate interest rate								5.20%
Credit facility repayments					$ 30,000,000.0
Line of credit facility, percentage threshold of principal amount outstanding					25.00%
Revolving Credit Facility [Member] \| Amended Credit Agreement [Member]
Line of Credit Facility [Line Items]
Maximum percentage allowed for total principal amount of loans		25.00%
Maximum principal amount of loans outstanding		$ 7,500,000
First lien net leverage ratio		3.4
Minimum liquidity requirement		$ 12,000,000.0
Revolving Credit Facility [Member] \| Minimum [Member] \| Base Rate [Member]
Line of Credit Facility [Line Items]
Credit facility margin					3.00%
Revolving Credit Facility [Member] \| Minimum [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Credit facility margin					4.00%
Revolving Credit Facility [Member] \| Maximum [Member] \| Base Rate [Member]
Line of Credit Facility [Line Items]
Credit facility margin					3.25%
Revolving Credit Facility [Member] \| Maximum [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Credit facility margin					4.25%
Secured Debt [Member]
Line of Credit Facility [Line Items]
Credit facility aggregate commitments									255,000,000.0
Credit facility outstanding balance									225,000,000.0
Term Loan [Member]
Line of Credit Facility [Line Items]
Term loan balance					$ 218,250,000	$ 220,500,000			$ 225,000,000.0
Credit facility maturity date					Dec. 01, 2024
Term Loan [Member] \| Base Rate [Member]
Line of Credit Facility [Line Items]
Credit facility margin				3.00%	2.25%
Term Loan [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Credit facility margin				4.00%	3.25%

Debt (Schedule Of Short-Term And Long-Term Balances Of Term Loan) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 01, 2017	Jun. 30, 2015
Debt Instrument [Line Items]
Total loan balance	$ 300,148	$ 223,176
Less unamortized loan origination costs	(8,485)	(7,441)
Total loan balance	291,663	215,735
Less short-term loan balance	(1,195)	(1,164)
Long-term loan balance	290,468	214,571
2.45% Sparkasse Zollernalb (KFW Loan 1) [Member]
Debt Instrument [Line Items]
Total loan balance	$ 886	1,061
Interest rate on amounts borrowed	2.45%			2.45%
1.40% Sparkasse Zollernalb (KFW Loan 2) [Member]
Debt Instrument [Line Items]
Total loan balance	$ 1,457	1,615
Interest rate on amounts borrowed	1.40%			1.40%
Term Loan [Member]
Debt Instrument [Line Items]
Total loan balance	$ 218,250	$ 220,500	$ 225,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total loan balance	$ 79,555

Debt (Schedule Of Debt Maturities) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Debt [Abstract]
2021	$ 2,829
2022	2,829
2023	2,829
2024	211,875
2025	100,231
Total	$ 320,593

Commitments And Contingencies (Narrative) (Details) - USD ($)	Sep. 28, 2010	Dec. 31, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Unreported loss liability		$ 1,900,000	$ 1,900,000
Recoverable insurance amounts		974,000	935,000
Property and equipment, net		33,077,000	$ 32,150,000
PerClot [Member]
Other Commitments [Line Items]
Prepaid royalties		1,500,000
Net intangible assets		1,800,000
Property and equipment, net		1,200,000
Maximum [Member]
Other Commitments [Line Items]
Estimated loss		4,000,000.0
Starch Technology Purchase [Member]
Other Commitments [Line Items]
Term of distribution agreement	15 years
Expected future contingent payment amounts		$ 1,000,000.0

Employee Benefit Plans (Narrative) (Details) - 401(K) [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Company's matching percentage of employees' contribution	100.00%
Company's matching contribution of employees' salary	3.50%	3.50%	3.00%
Company's total contributions	$ 1,900,000	$ 1,600,000	$ 1,400,000
Discretionary contributions	$ 0	$ 0	$ 0

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Revenue Recognition (Disaggregation Of Revenue) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total sources of revenue	$ 253,227	$ 276,222	$ 262,841
Domestic Hospitals [Member]
Disaggregation of Revenue [Line Items]
Total sources of revenue	137,810	144,538	138,432
International Hospitals [Member]
Disaggregation of Revenue [Line Items]
Total sources of revenue	80,524	85,241	81,203
International Distributors [Member]
Disaggregation of Revenue [Line Items]
Total sources of revenue	34,429	40,427	36,989
CardioGenesis Cardiac Laser Therapy [Member]
Disaggregation of Revenue [Line Items]
Total sources of revenue	$ 464	$ 6,016	$ 6,217

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: 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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-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Stock Compensation (Narrative) (Details)		3 Months Ended	12 Months Ended
Stock Compensation (Narrative) (Details)	Aug. 11, 2020 shares	Dec. 31, 2020 USD ($)	Dec. 31, 2020 USD ($) item shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of performance stock unit grants \| item			2
Percentage of target number of shares of common stock granted as Performance Stock Units				83.00%	80.00%
Total fair value \| $			$ 6,700,000	$ 9,800,000	$ 7,300,000
Employees purchased common stock, shares			83,000	61,000	83,000
Capitalized stock compensation expense \| $			$ 592,000	$ 612,000	$ 484,000
Reversal in expense \| $			$ 1,900,000
RSAs, RSUs, And PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized awards from approved stock incentive plans			335,000		328,000
Aggregate grant date market value \| $			$ 8,300,000		$ 7,500,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants of stock options			212,000	169,000	219,000
Unrecognized compensation costs \| $		$ 2,100,000	$ 2,100,000
Expected weighted-average period for recognizing the unrecognized compensation costs, in years			1 year 6 months 29 days
RSAs, RSUs, PSUs, And PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized awards from approved stock incentive plans				507,000
Aggregate grant date market value \| $				$ 15,000,000.0
Unrecognized compensation costs \| $		7,800,000	$ 7,800,000
Restricted Stock Awards (RSAs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized awards from approved stock incentive plans			123,000	93,000	128,000
Expected weighted-average period for recognizing the unrecognized compensation costs, in years			11 months 23 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized awards from approved stock incentive plans			141,000	103,000	115,000
Expected weighted-average period for recognizing the unrecognized compensation costs, in years			1 year 9 months
Performance Stock Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized awards from approved stock incentive plans			70,000	322,000	104,000
Expected weighted-average period for recognizing the unrecognized compensation costs, in years			1 year 7 months 20 days
Short-term PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target number of shares of common stock granted as Performance Stock Units			150.00%
Short-term PSUs [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Long-term PSUs [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Maximum [Member] \| Short-term PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target number of shares of common stock granted as Performance Stock Units				150.00%
Maximum [Member] \| Long-term PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target number of shares of common stock granted as Performance Stock Units				288.00%
Executive Officer [Member] \| Maximum [Member] \| Long-term PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target number of shares of common stock granted as Performance Stock Units				192.00%
2009 Equity And Cash Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in shares authorized under plan				1,900,000
Grants of stock options	1,400,000
2020 Equity and Cash Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in shares authorized under plan	4,100,000
Authorized awards from approved stock incentive plans			2,700,000
2020 PSU Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reversal in expense \| $		$ 1,100,000

Stock Compensation (Schedule Of Shares Available For Grant) (Details) - shares	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized Shares	13,575,000
Available for Grant	4,296,000	2,334,000
1996 Discounted Employee Stock Purchase Plan, As Amended [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized Shares	1,900,000
Available for Grant	150,000	234,000
2009 Equity And Cash Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized Shares	7,570,000
Available for Grant	52,000	2,100,000
2020 Equity and Cash Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized Shares	4,105,000
Available for Grant	4,094,000

Stock Compensation (Schedule Of Stock Grant Activity For RSAs) (Details) - Restricted Stock Awards (RSAs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, Beginning Balance, Shares	243,000	326,000	383,000
Granted, Shares	123,000	93,000	128,000
Vested, Shares	(108,000)	(149,000)	(136,000)
Forfeited, Shares		(27,000)	(49,000)
Unvested, Ending Balance, Shares	258,000	243,000	326,000
Unvested, Beginning Balance, Weighted Average Grant Date Fair Value	$ 23.30	$ 17.19	$ 12.81
Granted, Weighted Average Grant Date Fair Value	24.70	29.77	23.83
Vested, Weighted Average Grant Date Fair Value	20.66	14.45	12.96
Forfeited, Weighted Average Grant Date Fair Value		20.53	12.07
Unvested, Ending Balance, Weighted Average Grant Date Fair Value	$ 25.08	$ 23.30	$ 17.19

Stock Compensation (Schedule Of Stock Grant Activity For RSUs) (Details) - Restricted Stock Units (RSUs) [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, Beginning Balance, Shares	226,000	251,000	286,000
Granted, Shares	141,000	103,000	115,000
Vested, Shares	(118,000)	(101,000)	(99,000)
Forfeited, Shares	(37,000)	(27,000)	(51,000)
Unvested, Ending Balance, Shares	212,000	226,000	251,000	286,000
Vested and expected to vest, Shares	212,000
Outstanding, Weighted Average Remaining Contractual Term in Years	1 year 7 days	11 months 4 days	1 year 18 days	1 year 3 months 3 days
Vested and expected to vest, Weighted Average Remaining Contractual Term in Years	1 year 7 days
Outstanding, Aggregate Intrinsic Value	$ 5,015,000	$ 6,131,000	$ 7,123,000	$ 5,477,000
Vested and expected to vest, Aggregate Intrinsic Value	$ 5,015,000

Stock Compensation (Schedule Of Stock Grant Activity For PSUs) (Details) - Performance Stock Units (PSUs) [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, Beginning Balance, Shares	347,000	147,000	169,000
Granted, Shares	70,000	322,000	104,000
Vested, Shares	(55,000)	(87,000)	(109,000)
Forfeited, Shares	(31,000)	(35,000)	(17,000)
Unvested, Ending Balance, Shares	331,000	347,000	147,000	169,000
Vested and expected to vest, Shares	331,000
Outstanding, Weighted Average Remaining Contractual Term in Years	1 year 7 months 20 days	2 years 3 months 29 days	8 months 19 days	8 months 15 days
Vested and expected to vest, Weighted Average Remaining Contractual Term in Years	1 year 7 months 20 days
Outstanding, Aggregate Intrinsic Value	$ 7,805,000	$ 9,400,000	$ 4,179,000	$ 3,236,000
Vested and expected to vest, Aggregate Intrinsic Value	$ 7,805,000

Stock Compensation (Summary Of Stock Option Activity) (Details) - Stock Options [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning Balance, Shares	1,129,000	1,333,000	1,741,000
Granted, Shares	212,000	169,000	219,000
Exercised, Shares	(88,000)	(334,000)	(578,000)
Forfeited, Shares	(12,000)	(39,000)	(49,000)
Outstanding, Ending Balance, Shares	1,241,000	1,129,000	1,333,000	1,741,000
Vested and expected to vest, Shares	1,241,000
Exercisable, Shares	874,000
Outstanding, Beginning Balance, Weighted Average Exercise Price	$ 16.14	$ 13.04	$ 10.19
Granted, Weighted Average Exercise Price	26.24	29.62	21.55
Exercised, Weighted Average Exercise Price	10.49	9.87	7.59
Forfeited, Weighted Average Exercise Price	27.36	22.64	14.10
Outstanding, Ending Balance, Weighted Average Exercise Price	18.16	$ 16.14	$ 13.04	$ 10.19
Vested and expected to vest, Weighted Average Exercise Price	18.16
Exercisable, Weighted Average Exercise Price	$ 14.71
Outstanding, Weighted Average Remaining Contractual Term in years	3 years 4 months 17 days	3 years 8 months 1 day	3 years 11 months 4 days	3 years 7 months 20 days
Vested and expected to vest, Weighted Average Remaining Contractual Term in Years	3 years 4 months 17 days
Exercisable, Weighted Average Remaining Contractual Term in years	2 years 5 months 12 days
Outstanding, Aggregate Intrinsic Value	$ 8,215,000	$ 12,763,000	$ 20,439,000	$ 15,598,000
Vested and expected to vest, Aggregate Intrinsic Value	8,215,000
Exercisable, Aggregate Intrinsic Value	$ 8,094,000

Stock Compensation (Summary Of Other Information Concerning Stock Options) (Details) - Stock Options [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of options granted	$ 8.64	$ 11.47	$ 8.38
Intrinsic value of options exercised	$ 1,267,000	$ 6,519,000	$ 9,961,000

Stock Compensation (Schedule Of Weighted-Average Assumptions Used To Determine The Fair Value Of Options) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options	5 years	5 years	5 years
Expected stock price volatility	0.35%	0.40%	0.40%
Risk-free interest rate	1.41%	2.54%	2.64%
ESPP Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options	6 months	6 months	6 months
Expected stock price volatility	0.52%	0.39%	0.34%
Risk-free interest rate	1.00%	2.35%	1.73%

Stock Compensation (Summary Of Total Stock Compensation Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	$ 7,504	$ 9,411	$ 6,808
RSA, RSU, And PSU Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	5,288	7,451	5,076
Stock Option And ESPP Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	$ 2,216	$ 1,960	$ 1,732

(Loss) Income Per Common Share (Narrative) (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stock Options [Member]
Antidilutive securities excluded from computation of earnings per share	131,000	131,000

(Loss) Income Per Common Share (Computation Of Basic And Diluted (Loss) Income Per Common Share) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Basic (loss) income per common share

Net (loss) income

$ (16,682)

$ 1,720

$ (2,840)

Net loss (income) allocated to participating securities

111

(12)

Net (loss) income allocated to common shareholders

$ (16,571)

$ 1,708

$ (2,813)

Basic weighted-average common shares outstanding

37,861

37,118

36,412

Basic (loss) income per common share

$ (0.44)

$ 0.05

$ (0.08)

Diluted (loss) income per common share

Net (loss) income

$ (16,682)

$ 1,720

$ (2,840)

Net loss (income) allocated to participating securities

111

(12)

Net (loss) income allocated to common shareholders

$ (16,571)

$ 1,708

$ (2,813)

Basic weighted-average common shares outstanding

37,861

37,118

36,412

Effect of dilutive stock options and awards

^[1]

742

Diluted weighted-average common shares outstanding

37,861

37,860

36,412

Diluted (loss) income per common share

$ (0.44)

$ 0.05

$ (0.08)

[1]

We excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares, because the inclusion of these stock options would be antidilutive to (loss) income per common share. For the year ended December 31, 2020 and 2018 all stock options and awards were excluded from the calculation of weighted-average common shares outstanding as these would be antidilutive to the net loss. For the years ended December 31, 2019 stock options to purchase 131,000 shares were excluded from the calculation of diluted weighted-average common shares outstanding.

Transactions With Related Parties (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Member Of Board Of Directors Joining 2018 [Member]
Related Party Transaction [Line Items]
Revenue from related parties	$ 378,000	$ 341,000	$ 296,000

Segment And Geographic Information (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	2
Revenues	$ 253,227,000	$ 276,222,000	$ 262,841,000
Goodwill	260,061,000	186,697,000	188,781,000
Medical Devices [Member]
Segment Reporting Information [Line Items]
Revenues	179,299,000	197,246,000	187,394,000
Goodwill	260,100,000	186,700,000
Domestic [Member]
Segment Reporting Information [Line Items]
Revenues	138,274,000	150,553,000	$ 144,651,000
Germany {Member]
Segment Reporting Information [Line Items]
Long-lived assets	$ 15,100,000	$ 14,100,000
Percentage of revenue	10.00%	10.00%	10.00%
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	$ 0
Long-Lived Assets [Member] \| Geographic Concentration Risk [Member] \| Domestic [Member]
Segment Reporting Information [Line Items]
Concentration percentage	54.00%	57.00%
Long-Lived Assets [Member] \| Geographic Concentration Risk [Member] \| Germany {Member]
Segment Reporting Information [Line Items]
Concentration percentage	97.00%

Segment And Geographic Information (Revenues, Cost Of Products And Services, And Gross Margins For Operating Segments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 253,227	$ 276,222	$ 262,841
Total cost of products and preservation services	85,443	93,209	89,857
Total gross margin	167,784	183,013	172,984
Medical Devices [Member]
Segment Reporting Information [Line Items]
Total revenues	179,299	197,246	187,394
Total cost of products and preservation services	50,128	55,022	53,772
Total gross margin	129,171	142,224	133,622
Preservation Services [Member]
Segment Reporting Information [Line Items]
Total revenues	73,928	78,976	75,447
Total cost of products and preservation services	35,315	38,187	36,085
Total gross margin	$ 38,613	$ 40,789	$ 39,362

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

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+ Details

- Definition

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

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+ Details

Segment And Geographic Information (Summary Of Net Revenues By Product And Service) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Product Information [Line Items]
Total revenues	$ 253,227	$ 276,222	$ 262,841
Products [Member]
Product Information [Line Items]
Total revenues	179,299	197,246	187,394
BioGlue [Member]
Product Information [Line Items]
Total revenues	62,068	68,611	66,660
Aortic Stents And Stent Grafts [Member]
Product Information [Line Items]
Total revenues	61,663	64,974	63,341
On-X [Member]
Product Information [Line Items]
Total revenues	48,053	50,096	44,832
PhotoFix [Member]
Product Information [Line Items]
Total revenues	4,169	3,754	2,577
PerClot [Member]
Product Information [Line Items]
Total revenues	2,882	3,795	3,767
CardioGenesis Cardiac Laser Therapy [Member]
Product Information [Line Items]
Total revenues	464	6,016	6,217
Preservation Services [Member]
Product Information [Line Items]
Total revenues	73,928	78,976	75,447
Cardiac Tissues [Member]
Product Information [Line Items]
Total revenues	37,893	40,879	35,683
NeoPatch [Member]
Product Information [Line Items]
Total revenues	183
Vascular Tissues [Member]
Product Information [Line Items]
Total revenues	$ 35,852	$ 38,097	$ 39,764

Segment And Geographic Information (Schedule Of Net Revenues By Geographic Location) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Total revenues	$ 253,227	$ 276,222	$ 262,841
Domestic [Member]
Total revenues	138,274	150,553	144,651
Foreign [Member]
Total revenues	$ 114,953	$ 125,669	$ 118,190

- Definition

+ References

+ Details