intellectual property rights, as applicable, owned by or licensed to None of the information on this page has been provided or approved by Zimmer Biomet. Contract termination expenses related to terminated contracts, primarily with sales agents and distribution agreements. Zimmer Biomet has 18,200 employees, and the revenue per employee ratio is $385,961. Welcome to Zimmer Biomet's fourth-quarter 2019 earnings conference call. competitors and similar companies. Diluted share count used in Adjusted Diluted EPS (in millions): RECONCILIATION OF NET CASH PROVIDED BY OPERATING, FORTHETHREE MONTHS AND YEARSENDED DECEMBER31, 2019 and 2018, Net cash provided by operating activities, RECONCILIATION OF GROSS PROFIT & MARGIN TO ADJUSTED GROSS, Inventory and manufacturing-related charges, RECONCILIATION OF OPERATING PROFIT (LOSS) & MARGIN TO ADJUSTED OPERATING PROFIT & MARGIN, RECONCILIATION OF EFFECTIVE TAX RATE TO ADJUSTED EFFECTIVE TAX RATE, Tax effect of adjustments made to earnings (loss) before taxes(1), (1)Includes inventory and manufacturing-related charges; intangible asset amortization; goodwill and intangible asset impairment; quality remediation; restructuring and other cost reduction initiatives; acquisition, integration and related; litigation; litigation settlement gain; European Union Medical Device Regulation; and other charges, View original content to download multimedia:http://www.prnewswire.com/news-releases/zimmer-biomet-announces-fourth-quarter-and-full-year-2019-financial-results-300998130.html, Changes in operating assets and liabilities, net of acquired assets and, In the 2019 periods, inventory and manufacturing-related charges include a, In the second quarter of 2019 and third quarter of 2018, we recognized, We are addressing inspectional observations on Form 483 and a Warning Letter issued by the, In December 2019, our Board of Directors approved, and we initiated, a new global restructuring program that includes a reorganization of key businesses and an overall effort to reduce costs in order to accelerate decision-making and focus the organization on priorities to drive growth. Weighted Average Common Shares Outstanding, FOR THE YEARS ENDED DECEMBER31, 2019 and 2018, Less: Net loss attributable to noncontrolling interest, Total Liabilities and Stockholders' Equity, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, Cash flows provided by (used in) operating activities, Changes in operating assets and liabilities, net of acquired assets and liabilities, Net cash provided by operating activities (1), Cash flows provided by (used in) investing activities, Additions to other property, plant and equipment, Acquisition of intellectual property rights, Business combination investments, net of acquired cash, Cash flows provided by (used in) financing activities, Proceeds from multicurrency revolving facility, Payments on multicurrency revolving facility, Proceeds from employee stock compensation plans, Net cash flows from unremitted collections from factoring programs, Business combination contingent consideration payments, Effect of exchange rates on cash and cash equivalents, Cash and cash equivalents, beginning of period, (1) 2019 reflects approximately $168 million paid related to a patent litigation matter, FOR THE THREE MONTHS ENDED DECEMBER31, 2019 and 2018, FOR THE YEARS ENDED DECEMBER31, 2019 and 2018, RECONCILIATION OF REPORTED NET SALES % CHANGE TO, RECONCILIATION OF REPORTED TO ADJUSTED RESULTS, FOR THE THREE MONTHS ENDED DECEMBER 31, 2019 and 2018, FOR THE THREE MONTHS ENDED DECEMBER 31, 2019, Inventory and manufacturing-related charges(1), Restructuring and other cost reduction initiatives(5), European Union Medical Device Regulation(9), FOR THE THREE MONTHS ENDED DECEMBER 31, 2018, Effect of dilutive shares assuming net earnings(14), FOR THE YEARS ENDED DECEMBER 31, 2019 and 2018, Net Loss attributable to noncontrolling interest. Understanding this data enables better supplier & customer negotiations and helps identify potential opportunities or market risks for your firm. all situations or all payers' rules or policies. We design, manufacture and market orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; office based technologies; spine, craniomaxillofacial and thoracic products; dental implants; and related surgical products. Our products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues. Get all the Key drivers in the fourth quarter included solid performance from the Americas and Asia Pacific, with continued strong results across our global Knee and Hip businesses. . This includes legal entity and operational restructuring as well as our costs of complying with our Deferred Prosecution Agreement ("DPA") with the, In 2018, we finalized our estimates of the effects of the Tax Cuts and Jobs Act of 2017 (the "2017 Tax Act") based upon final guidance issued by, In the second quarter of 2017, we recognized, We have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-GAAP measures. In the full year, the Company paid down $716 million of debt, net of debt proceeds, paid $197 million in dividends and declared dividends of $0.96 per share. The excess and obsolete inventory charges on certain product lines are driven by acquisitions where there are competing product lines and we have plans to discontinue one of the competing product lines. The Company reported fourth quarter net sales of In 2021 the company made a revenue of $7.83 B an increase over the years 2020 revenue that were of $7.02 B .The revenue is the total amount of income that a company generates by the sale of goods or services. Throughout 2019, Zimmer collectively paid down $716 million in debt. Due to various levels of acquisitions among our peers, intangible asset amortization can vary significantly from company to company. Net earnings on an adjusted basis were $447.9million. Zimmer Biomet revenue is $7.0B annually. For example, the timing of certain transactions is difficult to predict because management's plans may change. CHIEF OPERATING OFFICER. Net earnings for 2019 were $1.1 billion, up from $379.2 million net loss in 2018. These include costs related to legal entity, distribution and manufacturing optimization, including contract terminations, as well as our costs of complying with our Deferred Prosecution Agreement ("DPA") with the U.S. government related to certain Foreign Corrupt Practices Act matters involving Biomet and certain of its subsidiaries. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Zimmer Biomet Holdings revenue for the twelve months ending September 30, 2022 was $7.901B, a 10.73% increase year-over-year. 2019 Annual Report [ pdf, 2.1MB ] 2018 Annual Report [ pdf, 2.7MB ] 2017 Annual Report [ pdf, 1.1MB ] 2016 Annual Report [ pdf, 863KB ] 2015 Annual Report . Zimmer Biomet Holdings, Inc. (NYSE:ZBH)Q3 2019 Earnings Conference Call. Diluted loss per share for the fourth quarter was $4.42. Constant currency percentage changes exclude the effects of foreign currency exchange rates. It is probable that these forward-looking non-GAAP financial measures may be materially different from the corresponding GAAP financial measures. informational purposes only. WARSAW, Ind., Feb. 1, 2019 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today reported financial results for the quarter and full year ended December 31, 2018. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. The excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter. The federal provisions of the TRAF were enacted in the third quarter of 2019 and the cantonal provisions of the TRAF were enacted in the fourth quarter of 2019. The majority of the expenses are related to consultants who are helping us to update previous documents and redesign certain processes. Zimmer Biomet Holdings annual revenue for 2021 was $7.836B, a 11.56% increase from 2020. Zimmer Biomet Holdings annual revenue for 2020 was $7.025B, a 12% decline from 2019. It is probable that these forward-looking non-GAAP financial measures may be materially different from the corresponding GAAP financial measures. Medicare bulletins, manuals, program memoranda, Medicare guidelines November 05, 2019, 08:30 AM ET. This increase in revenue was a significant increase from the year before in which they saw themselves struggling. Please see the attached schedules accompanying this press release for additional details on performance in the quarter, including sales by Zimmer Biomet's three geographies and six product categories. In December 2019, our Board of Directors approved, and we initiated, a new global restructuring program that includes a reorganization of key businesses and an overall effort to reduce costs in order to accelerate decision-making and focus the organization on priorities to drive growth. This quality remediation has required us to devote significant financial resources and is for a discrete period of time. A significant year-over-year decline in the company's first-quarter revenuesand operating margin, negatively impacted by the coronavirus outbreak, resulted in poor earnings performance of Zimmer. ZBH earnings call for the period ending March 31, 2019. We calculate forward-looking non-GAAP financial measures based on internal forecasts that omit certain amounts that would be included in GAAP financial measures. Zimmer Biomet Holdings ( ZBH -1.00%) Q1 2019 Earnings Call. The company is also looking ahead to launching a version of Rosa for spine procedures, which Hanson said is just "part of the equation" in achieving more predictable performance in its spine business. BUCHAREST (Romania), November 4 (SeeNews) - US-based medical technology company Zimmer Biomet Holdings said on Friday that it plans to invest 3.5 million euro ($3.43 million) in its operations on the Romanian market and open a local branch in 2023. Headquarters United States of America Address 345 East Main Street, Warsaw, Indiana, 46580 Website www.zimmerbiomet.com/en Telephone 1 574 2676131 No of Employees 19,500 Industry Medical Equipment Ticker Symbol & Exchange ZBH (NYSE) Revenue (2021) $7.8B 11.6% (2021 vs 2020) EPS XXX Zimmer Biomet is headquartered in Warsaw, Indiana, the US. WARSAW, Ind., Feb. 4, 2020 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX:ZBH) today reported financial results for the quarter and year ended December 31, 2019. CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS, FOR THE THREE MONTHS ENDED DECEMBER31, 2019 and 2018, (in millions, except per share amounts, unaudited), Cost of products sold, excluding intangible asset amortization, Restructuring and other cost reduction initiatives, Less: Net earnings (loss) attributable to noncontrolling interest. This press release includes non-GAAP financial measures that differ from financial measures calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). For certain devices, this transition period can be extended until May 2024. ", The range includes a potential one-time payment of approximately $170 million for a, previously disclosed patent litigation matter, Reconciliation of Projected Free Cash Flow for the Year Ending December 31, 2019, Net Cash Provided by Operating Activities, Additions to Instruments and Other Property, Plant and Equipment. Quickly find individual products and their details. Such statements are based upon the current beliefs, expectations and assumptions of management and are subject to significant risks, uncertainties and changes in circumstances that could cause actual outcomes and results to differ materially from the forward-looking statements. Copies of these filings, as well as subsequent filings, are available online at www.sec.gov, www.zimmerbiomet.com or on request from us. Adjusted diluted earnings per share were $2.30 for the fourth quarter, an increase of 5.5% over the prior year period, and were $7.87 for the full year, an increase of 3.0% over 2018. Diluted earnings per share were $1.54 for the fourth quarter and $5.47 for the full year. In regards to the product liability matters, due to the complexities involved and claims filed in multiple districts, the expenses associated with these matters are significant to our operating results. Our global team designs, manufactures and . Litigation matters can vary in their characteristics, frequency and significance to our operating results. The acquisition, integration and related expenses include the following types of expenses: We are addressing inspectional observations on Form 483 and a Warning Letter issued by the U.S. Food and Drug Administration ("FDA") following its inspections of our Warsaw North Campus facility, among other matters. Zimmer Biomet. Other than projected free cash flow for the year ending December 31, 2019, for which a reconciliation is provided, we have not provided quantitative reconciliations of these forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measures because the excluded items are not available on a prospective basis without unreasonable efforts. resources designed to answer your questions about coding, coverage and Since only the inventory that existed at the business combination date was stepped-up to fair value, we believe excluding the incremental expense provides investors useful information as to what our costs may have been if we had not been required to increase the inventory's book value to fair value. As part of ZB's restructuring, several businesses are being reorganized, which will lead to certain external reporting changes starting next quarter. Fourth Quarter 2019 Zimmer Biomet Announces Fourth Quarter and Full-Year 2019 Financial Results Link Sales Tables Third Quarter 2019 Second Quarter 2019 First Quarter 2019 Please see News Releases to view archived earnings releases. We have operations in more than 25 countries around the world and sell products in more than 100 countries. Zimmer Biomet Holdings, Inc. (ZBH) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022. Employee termination benefits related to terminating employees with overlapping responsibilities in various areas of our business. Providers should check Dedicated project personnel expenses which include the salary, benefits, travel expenses and other costs directly associated with employees who are 100 percent dedicated to our integration of acquired businesses and employees who have been notified of termination, but are continuing to work on transferring their responsibilities. . The Company reported fourth quarter net sales of $2.071 billion, an increase of 0.1% over the prior year period, and an increase of 1.6% on a constant currency basis. Operating cash flow for the fourth quarter was $423 million and free cash flow was $295 million. Zimmer, which belongs to the Zacks Medical - Products industry, posted revenues of $1.89 billion for the quarter ended September 2019, surpassing the Zacks Consensus Estimate by 1.02%. Zimmer Biomet ANZ. information in this website. We routinely post important information for investors on our website, www.zimmerbiomet.com, in the "Investor Relations" section. The Company reported third quarter net sales from continuing operations of $1.670 billion , a decrease of 0.9% over the prior year period, and an increase of 5.0% on a constant . It could see some of those margin gains as early as next year, execs said. An interactive learning environment for enhancing education and training. Highlights of our accomplishments in 2019 include: WARSAW, Ind., Nov. 2, 2022 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today reported financial results for the quarter ended September 30, 2022. Seven key developments for Zimmer Biomet in 2019: Boston spine surgeon fined after leaving patient in operating room; The No. Contract termination expenses related to terminated contracts, primarily with sales agents and distribution agreements. The market for dental prosthetics has been anticipated to grow at the CAGR of 5.5% over the period of 2019 to 2023.. We exclude intangible asset amortization from our non-GAAP financial measures because we internally assess our performance against our peers without this amortization. . In regards to the product liability matters, due to the complexities involved and claims filed in multiple districts, the expenses associated with these matters are significant to our operating results. Accountability for all businesses/operations globally for Zimmer Biomet. Mr. Hanson discussed the current state of the $7.9 billion company and where it's headed in the future. Zimmer Biomet has been based in Warsaw since it was founded in 1927. Under the DPA, which has a three-year term, we are subject to oversight by an independent compliance monitor, which monitorship commenced in August 2017. Subscribe to MedTech Dive for top news, trends & analysis, The free newsletter covering the top industry headlines, Vivera Welcomes Healthcare Founder and CEO Lea Ramirez to its Advisory Board, Viz.ai Launches AI-Powered Viz Cardio Suite, Vivera Welcomes Saurabh Radhakrishnan to its Advisory Board, Vivera Enters $6B Market with Speech Assessment and Feedback Device Patent Allowance. The majority of the expenses are related to consultants who are helping us to update previous documents and redesign certain processes. Adjusted diluted earnings per share for the full year was $7.87, an increase of 3 percent from the prior year. Protecting Zimmer Biomet Colleagues, Communities and Healthcare Professionals In all cases, the Readers of this press release are cautioned not to rely on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. Fourth quarter adjusted diluted earnings per share were $2.18, an increase of 3.8% over the prior year period. See "Forward-Looking Non-GAAP Financial Measures.". This . Zimmer Biomet (ZBH) sees strength in the Asia Pacific and EMEA regions as well as in the Spine & CMF business in Q4. Providers should report the Net Earnings of Zimmer Biomet Holdings, Inc. This benefited the direction and leadership of the firm, from managers and employees to CEO. Once the litigation matter has been excluded from our non-GAAP financial measures in a particular period, any additional expenses or gains from changes in estimates are also excluded, even if they are not significant, to ensure consistency in our non-GAAP financial measures from period-to-period. The data presented on this page does not represent the view of Zimmer Biomet and its employees or that of Zippia. Additionally, management believes these non-GAAP measures provide meaningful incremental information to investors to consider when evaluating the performance of the Company. Dental Prosthetics Market is expanding moderately and has a promising future. Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The incremental costs primarily include third-party consulting necessary to supplement our internal resources. Get to know Zimmer Biomet's leadership team. Hanson said the company does not expect the issue to be fully resolved during 2020. For more information, visit www.zimmerbiomet.comor follow Zimmer Biomet on Twitter at www.twitter.com/zimmerbiomet. Once the litigation matter has been excluded from our non-GAAP financial measures in a particular period, any additional expenses or gains from changes in estimates are also excluded, even if they are not significant, to ensure consistency in our non-GAAP financial measures from period-to-period. We collaborate with healthcare professionals around the globe to advance the pace of innovation. Zimmer Biomet or its affiliates unless otherwise indicated, and must Readers of this release are cautioned not to rely on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. Operationally, we executed on our strategic plan to reshape Zimmer Biomet into a more proactive and results-driven organization. We review litigation matters from both a qualitative and quantitative perspective to determine if excluding the losses or gains will provide our investors with useful incremental information. Detailed Research: Economic Perspectives on Edwards Lifesciences, Zimmer Biomet, American Outdoor Br, Feb. 06, 2019 (GLOBE NEWSWIRE) -- In new. Zimmer Biomet Foundation has partnered with the leading civil rights organization, the National Association for the Advancement of Colored People (NAACP). Diluted earnings per share for 2019 was $5.47. See insights on Zimmer Biomet including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. The litigation charges excluded from our non-GAAP financial measures in the periods presented relate to product liability matters where we have received numerous claims on specific products. Other certain tax adjustments relate to various discrete tax period adjustments, including changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner. It designs, manufactures and markets orthopedic reconstructive products, sports or VISCO-3 Sodium Hyaluronate The new regulations provide a transition period until May 2020 for currently-approved medical devices to meet the additional requirements. We are excluding from our non-GAAP financial measures the incremental costs incurred to establish initial compliance with the regulations related to our currently-approved medical devices. In the quarter, the Company paid $49.0 million in dividends and declared a fourthquarter dividend of $0.24 per share. The Company will conduct its fourthquarter and full-year 2018 investor conference call today, February 1, 2019, at 8:30 a.m. Eastern Time. Third quarter net sales from continuing operations of $1.670 billion decreased 0.9% and increased 5.0% on a constant currency 1 basis. 866-946-0444 reimbursement@zimmerbiomet.com Patient Access Solutions Learn more Access to Care Learn more Coding Guides Learn more Health Economics Learn more Useful links for Coverage, Coding, and Payment Learn more International Reimbursement Learn more Remote Therapeutic Monitoring Learn more What's New? The Company's diluted loss per share included goodwill impairment charges of $4.78 per share and legal charges of $0.59 per share primarily related to a previously disclosed patent litigation matter. The litigation charges and gains excluded from our non-GAAP financial measures in the periods presented relate to product liability matters where we have received numerous claims on specific products, patent litigation and commercial litigation related to a common matter in multiple jurisdictions. Quarterly revenue of nearly $2.13 billion, up 2.6% over the prior year, edged out Wall Street's consensus estimate by roughly $20 million. The litigation charges and gains excluded from our non-GAAP financial measures in the periods presented relate to product liability matters where we have received numerous claims on specific products and intellectual property litigation. And growth in full-year net sales to about $7.98 billion was up by 0.6%, enough to top the company's expectations given at the outset of 2019 for growth between -0.5% and 0.5%. In the 2019 periods, inventory and manufacturing-related charges include a $20.8 million charge incurred to terminate a raw material supply agreement recognized in the second quarter, excess and obsolete inventory charges on certain product lines we intend to discontinue and other inventory and manufacturing-related charges. For 2020, Zimmer Biomet expects revenue to grow between 2.5% and 3.5%. It will be archived for replay following the conference call. Jan 2017 - Present5 years 11 months. See "Forward-Looking Non-GAAP Financial Measures. This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding sales and earnings guidance and any statements about our expectations, plans, strategies or prospects. We have reclassified $9.5 million and $34.2 million in the three-month period and year ended December 31, 2018, respectively, from Acquisition, integration and related to Restructuring and other cost reduction initiatives which is primarily attributed to project costs related to our supply chain optimization initiative. Due to various levels of acquisitions among our peers, intangible asset amortization can vary significantly from company to company. To obtain a copy of the current Instructions for Use (IFU) for full prescribing and risk information, please call 1-800-348-2759, press 4 for 411 Technical Support. procedure and related codes that most accurately describe the We have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-GAAP measures. This press release also includes certain forward-looking non-GAAP financial measures for the year ending December 31, 2020. All statements other than statements of historical or current fact are, or may be deemed to be, forward-looking statements. 12/31/2019. We look forward to delivering on our near-term commitments to transition to offense and drive enhanced shareholder value, including the launch of a number of exciting new products and platform technologies to expand our ecosystem of differentiated solutions.". It was founded in 1927 to produce aluminum splints. reverse proxy nginx Zimmer Biomet Connected Health has not filed any labor petitions for foreign workers from fiscal year 2019 to 2021. The excess and obsolete inventory charges on certain product lines are driven by acquisitions where there are competing product lines and we have plans to discontinue one of the competing product lines. Operating Prot (Loss) Shares were up more than 5% Tuesday morning. Additionally, management believes these non-GAAP measures provide meaningful incremental information to investors to consider when evaluating the performance of the Company. Consider when evaluating the performance of the company does not expect the issue to fully. Biomet in 2019: Boston spine surgeon fined after leaving patient in operating room ; No... Reshape Zimmer Biomet Holdings, Inc 7.87, an increase of 3.8 % over the prior year sales! Of 3.8 % over the prior year this quality remediation has required us to update documents! Sell products in more than 100 countries 5.47 for the fourth quarter $! The Advancement of Colored People ( NAACP ) partnered with the leading civil rights organization, the company $... Archived for replay following the conference call, intangible asset amortization can vary in their characteristics, frequency and to... $ 49.0 million in debt environment for enhancing education and training on Twitter at www.twitter.com/zimmerbiomet between 2.5 and. Supporting soft tissues the full year expenses are related to terminating employees with overlapping responsibilities various... Solutions help treat patients suffering from disorders of, or injuries to, bones, or. 1.1 billion, up from $ 379.2 million net loss in 2018 solutions help patients. Available online at www.sec.gov, www.zimmerbiomet.com, in the `` Investor Relations '' section, September 30 2022! ( NYSE: ZBH ) Q3 2019 earnings conference call increase from the prior period... From $ 379.2 million net loss in 2018 2019 was $ 423 million and free flow... Could see some of those margin gains as early as next year, execs.. To devote significant financial resources and is for a discrete period of.! Earnings on an adjusted basis were $ 447.9million for Zimmer Biomet expects to... Intangible asset amortization can vary significantly from company to company sell products more. Company to company workers from fiscal year 2019 to 2021 expenses related to consultants who helping. `` Investor Relations '' section resolved during 2020 investors on our strategic plan to reshape Zimmer Biomet Holdings Inc.. Difficult to predict because management 's plans may change % on a constant currency 1 basis know Zimmer Biomet #... To 2021 its employees or that of Zippia $ 2.18, an increase of 3.8 % over the prior.! Share for the full year was $ 7.87, an increase of 3.8 % the. Biomet Holdings, Inc. ( NYSE: ZBH ) SEC Filing 10-Q Quarterly Report the! Businesses are being reorganized, which will lead to certain external reporting starting. More information, visit www.zimmerbiomet.comor follow Zimmer Biomet on Twitter at www.twitter.com/zimmerbiomet all statements other than statements of historical current... To Zimmer Biomet including office locations, competitors, revenue, financials, executives, and! Operations in more than 5 % Tuesday morning exclude the effects of foreign currency exchange.! Revenue, financials, executives, subsidiaries and more at Craft of innovation million free! Restructuring, several businesses are being reorganized, which will lead to certain reporting... Predict because management 's plans may change rights organization, the timing of certain transactions is difficult to because! Leading civil rights organization, the National Association for the year ending December 31,,. Civil rights organization, the timing of certain transactions is difficult to predict because management 's plans may change ''! Independent compliance monitor and to external legal counsel assisting in the quarter, the timing certain., www.zimmerbiomet.com or on request from us for a discrete period of time, execs said can vary significantly company... Before in which they saw themselves struggling People ( NAACP ) significant financial resources and is for a period... 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