SEC Info - Anika Therapeutics, Inc. - ‘10-K’ for 12/31/20

SEC Info℠

Home

My Interests

Help

Please Sign In

Anika Therapeutics, Inc. – ‘10-K’ for 12/31/20 – ‘R15’

On: Friday, 3/5/21, at 5:18pm ET · For: 12/31/20 · Accession #: 1171843-21-1573 · File #: 1-14027

Previous ‘10-K’: ‘10-K’ on 3/6/20 for 12/31/19 · Next: ‘10-K/A’ on 4/26/21 for 12/31/20 · Latest: ‘10-K/A’ on 4/26/24 for 12/31/23 · 37 References:

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/05/21  Anika Therapeutics, Inc.          10-K       12/31/20  105:11M                                    Globenewswire Inc./FA

Annual Report — Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.34M 
 6: EX-10.13D   Material Contract                                   HTML     94K 
 7: EX-10.13E   Material Contract                                   HTML     93K 
 8: EX-10.13G   Material Contract                                   HTML     85K 
 9: EX-10.13H   Material Contract                                   HTML     93K 
 2: EX-23.1     Consent of Expert or Counsel                        HTML     29K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     35K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     36K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     30K 
16: R1          Document And Entity Information                     HTML     89K 
17: R2          Consolidated Balance Sheets                         HTML    112K 
18: R3          Consolidated Balance Sheets (Parentheticals)        HTML     47K 
19: R4          Consolidated Statements of Operations and           HTML    108K 
                Comprehensive Income (Loss)                                      
20: R5          Consolidated Statements of Stockholders' Equity     HTML     85K 
21: R6          Consolidated Statements of Cash Flows               HTML    152K 
22: R7          Note 1 - Nature of Business                         HTML     35K 
23: R8          Note 2 - Summary of Significant Accounting          HTML    118K 
                Policies                                                         
24: R9          Note 3 - Business Combinations                      HTML    100K 
25: R10         Note 4 - Fair Value Measurements                    HTML     90K 
26: R11         Note 5 - Inventories                                HTML     44K 
27: R12         Note 6 - Property and Equipment                     HTML     44K 
28: R13         Note 7 - Acquired Intangible Assets, Net            HTML     85K 
29: R14         Note 8 - Goodwill                                   HTML     47K 
30: R15         Note 9 - Leases                                     HTML     79K 
31: R16         Note 10 - Accrued Expenses                          HTML     43K 
32: R17         Note 11 - Revolving Credit Agreement                HTML     35K 
33: R18         Note 12 - Commitments and Contingencies             HTML     34K 
34: R19         Note 13 - Revenue by Product Group, by Significant  HTML     87K 
                Customer and by Geographic Location; Geographic                  
                Information                                                      
35: R20         Note 14 - Equity Incentive Plan                     HTML    108K 
36: R21         Note 15 - Employee Benefit Plan                     HTML     33K 
37: R22         Note 16 - Accelerated Share Repurchases             HTML     36K 
38: R23         Note 17 - Income Taxes                              HTML    120K 
39: R24         Note 18 - Earnings Per Share ("Eps")                HTML     43K 
40: R25         Note 19 - Quarterly Financial Data (Unaudited)      HTML     67K 
41: R26         Significant Accounting Policies (Policies)          HTML    171K 
42: R27         Note 2 - Summary of Significant Accounting          HTML     52K 
                Policies (Tables)                                                
43: R28         Note 3 - Business Combinations (Tables)             HTML     81K 
44: R29         Note 4 - Fair Value Measurements (Tables)           HTML     85K 
45: R30         Note 5 - Inventories (Tables)                       HTML     42K 
46: R31         Note 6 - Property and Equipment (Tables)            HTML     42K 
47: R32         Note 7 - Acquired Intangible Assets, Net (Tables)   HTML     79K 
48: R33         Note 8 - Goodwill (Tables)                          HTML     39K 
49: R34         Note 9 - Leases (Tables)                            HTML     76K 
50: R35         Note 10 - Accrued Expenses (Tables)                 HTML     41K 
51: R36         Note 13 - Revenue by Product Group, by Significant  HTML     86K 
                Customer and by Geographic Location; Geographic                  
                Information (Tables)                                             
52: R37         Note 14 - Equity Incentive Plan (Tables)            HTML    102K 
53: R38         Note 17 - Income Taxes (Tables)                     HTML    115K 
54: R39         Note 18 - Earnings Per Share ("Eps") (Tables)       HTML     40K 
55: R40         Note 19 - Quarterly Financial Data (Unaudited)      HTML     65K 
                (Tables)                                                         
56: R41         Note 2 - Summary of Significant Accounting          HTML     72K 
                Policies (Details Textual)                                       
57: R42         Note 2 - Summary of Significant Accounting          HTML     39K 
                Policies - Allowance for Doubtful Accounts                       
                (Details)                                                        
58: R43         Note 2 - Summary of Significant Accounting          HTML     39K 
                Policies - Estimated Useful Lives of Property and                
                Equipment (Details)                                              
59: R44         Note 3 - Business Combinations (Details Textual)    HTML     74K 
60: R45         Note 3 - Business Combinations - Consideration      HTML     41K 
                Transferred (Details)                                            
61: R46         Note 3 - Business Combinations - Fair Value of Net  HTML     74K 
                Assets Acquired (Details)                                        
62: R47         Note 3 - Business Combinations - Intangible Assets  HTML     43K 
                Acquired (Details)                                               
63: R48         Note 3 - Business Combinations - Pro Forma          HTML     32K 
                Information (Details)                                            
64: R49         Note 4 - Fair Value Measurements (Details Textual)  HTML     68K 
65: R50         Note 4 - Fair Value Measurements - Fair Value of    HTML     62K 
                Financial Instruments (Details)                                  
66: R51         Note 4 - Fair Value Measurements - Contingent       HTML     38K 
                Consideration (Details)                                          
67: R52         Note 5 - Inventories (Details Textual)              HTML     34K 
68: R53         Note 5 - Inventories - Summary of Inventories       HTML     41K 
                (Details)                                                        
69: R54         Note 6 - Property and Equipment (Details Textual)   HTML     30K 
70: R55         Note 6 - Property and Equipment - Property and      HTML     43K 
                Equipment at Cost (Details)                                      
71: R56         Note 7 - Acquired Intangible Assets, Net (Details   HTML     50K 
                Textual)                                                         
72: R57         Note 7 - Acquired Intangible Assets, Net - Summary  HTML     63K 
                of Intangible Assets (Details)                                   
73: R58         Note 8 - Goodwill (Details Textual)                 HTML     32K 
74: R59         Note 8 - Goodwill - Changes in the Carrying Value   HTML     38K 
                of Goodwill (Details)                                            
75: R60         Note 9 - Leases (Details Textual)                   HTML     32K 
76: R61         Note 9 - Leases - Lease Expense and Other           HTML     58K 
                Information (Details)                                            
77: R62         Note 9 - Leases - Future Minimum Rental Payments    HTML     95K 
                for Operating Leases (Details)                                   
78: R63         Note 10 - Accrued Expenses - Summary of Accrued     HTML     45K 
                Expenses (Details)                                               
79: R64         Note 11 - Revolving Credit Agreement (Details       HTML     63K 
                Textual)                                                         
80: R65         Note 12 - Commitments and Contingencies (Details    HTML     30K 
                Textual)                                                         
81: R66         Note 13 - Revenue by Product Group, by Significant  HTML     35K 
                Customer and by Geographic Location; Geographic                  
                Information (Details Textual)                                    
82: R67         Note 13 - Revenue by Product Group, by Significant  HTML     50K 
                Customer and by Geographic Location; Geographic                  
                Information - Product Revenue by Product Group                   
                (Details)                                                        
83: R68         Note 13 - Revenue by Product Group, by Significant  HTML     47K 
                Customer and by Geographic Location; Geographic                  
                Information - Total Revenue by Geographic Location               
                (Details)                                                        
84: R69         Note 13 - Revenue by Product Group, by Significant  HTML     34K 
                Customer and by Geographic Location; Geographic                  
                Information - Net Tangible Long-lived Assets by                  
                Principal Geographic Areas (Details)                             
85: R70         Note 14 - Equity Incentive Plan (Details Textual)   HTML    131K 
86: R71         Note 14 - Equity Incentive Plan - Granted and       HTML     48K 
                Exercised Stock-based Compensation Awards                        
                (Details)                                                        
87: R72         Note 14 - Equity Incentive Plan - Stock Options     HTML     50K 
                and SAR's Activity (Details)                                     
88: R73         Note 14 - Equity Incentive Plan - Summary of        HTML     41K 
                Exercisable Options and SAR's (Details)                          
89: R74         Note 14 - Equity Incentive Plan - Restricted Stock  HTML     50K 
                Activity (Details)                                               
90: R75         Note 14 - Equity Incentive Plan - Assumptions Used  HTML     42K 
                to Estimate Fair Value of Stock Options and Stock                
                Appreciation Rights (Details)                                    
91: R76         Note 14 - Equity Incentive Plan - Total             HTML     36K 
                Stock-based Compensation Expense (Details)                       
92: R77         Note 15 - Employee Benefit Plan (Details Textual)   HTML     33K 
93: R78         Note 16 - Accelerated Share Repurchases (Details    HTML     72K 
                Textual)                                                         
94: R79         Note 17 - Income Taxes (Details Textual)            HTML     59K 
95: R80         Note 17 - Income Taxes - Components of Income       HTML     63K 
                Before Taxes and Provision for (Benefit from)                    
                Income Taxes (Details)                                           
96: R81         Note 17 - Income Taxes - Significant Components of  HTML     62K 
                Company's Deferred Tax Assets and Liabilities                    
                (Details)                                                        
97: R82         Note 17 - Income Taxes - Reconciliation Between     HTML     52K 
                U.S. Federal Statutory Rate and Effective Rate                   
                (Details)                                                        
98: R83         Note 18 - Earnings Per Share ("Eps") (Details       HTML     34K 
                Textual)                                                         
99: R84         Note 18 - Earnings Per Share ("EPS") - Basic and    HTML     38K 
                Diluted Earnings Per Share (Details)                             
100: R85         Note 19 - Quarterly Financial Data (Unaudited)      HTML     34K  
                (Details Textual)                                                
101: R86         Note 19 - Quarterly Financial Data (Unaudited) -    HTML     67K  
                Quarterly Financial Data (Unaudited) (Details)                   
103: XML         IDEA XML File -- Filing Summary                      XML    199K  
15: XML         XBRL Instance -- anik20201231_10k_htm                XML   2.55M 
102: EXCEL       IDEA Workbook of Financial Reports                  XLSX    118K  
11: EX-101.CAL  XBRL Calculations -- anik-20201231_cal               XML    186K 
12: EX-101.DEF  XBRL Definitions -- anik-20201231_def                XML   1.68M 
13: EX-101.LAB  XBRL Labels -- anik-20201231_lab                     XML   1.36M 
14: EX-101.PRE  XBRL Presentations -- anik-20201231_pre              XML   1.72M 
10: EX-101.SCH  XBRL Schema -- anik-20201231                         XSD    250K 
104: JSON        XBRL Instance as JSON Data -- MetaLinks              456±   766K  
105: ZIP         XBRL Zipped Folder -- 0001171843-21-001573-xbrl      Zip    374K

‘R15’ — Note 9 – Leases

This is an IDEA Financial Report. [ Alternative Formats ]

Note 9 - Leases

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Lessee, Operating Leases and Finance Leases [Text Block]

9. Leases

The Company leases its buildings and manufacturing facilities under operating leases. As of December 31, 2020, the Company had real estate leases in Bedford, Massachusetts, Franklin, Massachusetts, Sarasota, Florida and Padova, Italy. The current term of the Bedford lease extends to 2022 with several lease renewal options into 2038, and the current term of the Padova lease extends to 2032, with a right to terminate at the Company’s option in 2026 without penalty.

As a result of the acquisition of Parcus Medical and Arthrosurface, the Company acquired operating and finance leases for corporate offices, manufacturing and warehouse facilities and machineries. The operating leases consist of two real estate leases in Franklin, Massachusetts (Franklin lease) and in Sarasota, Florida (Sarasota lease). The current term of the Franklin lease extends to 2021, and the current term of the Sarasota lease extends to 2024 which may be extended by mutual agreement of the parties. The finance leases include equipment utilized in its manufacturing facility in Sarasota, Florida.

The significant assumptions in recognizing the right-of-use asset and lease liability are as follows:

Incremental borrowing rate. The Company derives its incremental borrowing rate from information available at the lease commencement date in determining the present value of lease payments. The incremental borrowing rate represents a collateralized rate of interest the Company would have to pay to borrow over a similar term an amount equal to the lease payments in a similar economic environment. The Company’s lease agreements do not provide implicit rates. As the Company did not have any external borrowings at the transition date with comparable terms to its lease agreements, the Company estimated its incremental borrowing rate based on its credit quality, line of credit agreement and by comparing interest rates available in the market for similar borrowings, and adjusting this amount based on the impact of collateral over the term of the lease. The weighted average discount rate at December 31, 2020 is 4.1% and 5% for operating leases and finance leases, respectively.

Lease term. The lease term begins at the lease commencement date and is determined on that date based on the non-cancelable term of the lease together with periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option, or periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option.

The components of lease expense and other information are as follows:

	For the Years Ended December 31
	2020		2019
Finance lease amortization of right-of-use assets	$	185	$	-
Interest on finance lease liabilities		25		-
Finance lease expense		210		-
Operating lease expense		2,383		2,087
Short-term lease expense		-		6
Variable lease expense		264		216
Total lease expense	$	2,857	$	2,309

	For the Years Ended December 31
	2020			2019
Weighted Average Remaining Lease Term (in years)
Operating leases		15.6			16.8
Financing leases		3.2			-
Weighted Average Discount Rate
Operating leases		4.1	%		4.1	%
Financing leases		5.0	%		-
Other information
Operating cash flows from operating leases	$	2,340		$	1,980
Operating cash flows from financing leases	$	162		$	-

Future commitments due under these lease agreements as of December 31, 2020 are as follows:

Years ended December 31,	Operating Leases			Financing Leases			Total

2021	$	2,304		$	166		$	2,470
2022		2,240			166			2,406
2023		2,123			160			2,283
2024		2,059			44			2,103
2025		1,924			-			1,924
Thereafter		19,450			-			19,450
Present value adjustment		(7,784	)		(32	)		(7,816	)
Present value of lease payments		22,316			504			22,820
Less current portion included in accrued expenses and other current liabilities		(1,437	)		(148	)		(1,585	)
Total lease liabilities	$	20,879		$	356		$	21,235

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-K’ Filing	Date	Other Filings

Filed on:	3/5/21
For Period end:	12/31/20	10-K/A
		List all Filings

5 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/15/24  Anika Therapeutics, Inc.          10-K       12/31/23   90:9.1M                                   Globenewswire Inc./FA
 3/16/23  Anika Therapeutics, Inc.          10-K       12/31/22   97:10M                                    Globenewswire Inc./FA
 3/11/22  Anika Therapeutics, Inc.          10-K       12/31/21  105:25M                                    Globenewswire Inc./FA
 5/07/21  Anika Therapeutics, Inc.          10-Q        3/31/21   67:5.1M                                   Globenewswire Inc./FA
 4/26/21  Anika Therapeutics, Inc.          10-K/A     12/31/20  100:10M                                    Globenewswire Inc./FA

32 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/05/20  Anika Therapeutics, Inc.          8-K:5,7,9   8/05/20    3:95K                                    Globenewswire Inc./FA
 6/18/20  Anika Therapeutics, Inc.          8-K:5,9     6/16/20    2:194K                                   Globenewswire Inc./FA
 5/22/20  Anika Therapeutics, Inc.          10-Q        3/31/20   77:4.8M                                   Globenewswire Inc./FA
 4/29/20  Anika Therapeutics, Inc.          8-K:1,5,7,9 4/23/20    3:147K                                   Globenewswire Inc./FA
 3/06/20  Anika Therapeutics, Inc.          10-K       12/31/19   98:6.4M                                   Globenewswire Inc./FA
 3/02/20  Anika Therapeutics, Inc.          8-K:5,9     2/25/20    2:53K                                    Globenewswire Inc./FA
 1/07/20  Anika Therapeutics, Inc.          8-K:1,9     1/04/20    3:1.2M                                   Globenewswire Inc./FA
 7/26/19  Anika Therapeutics, Inc.          10-Q        6/30/19   68:3.4M                                   Globenewswire Inc./FA
 7/10/19  Anika Therapeutics, Inc.          8-K:5       7/05/19    3:131K                                   Globenewswire Inc./FA
 6/20/19  Anika Therapeutics, Inc.          8-K:5,9     6/18/19    2:185K                                   Globenewswire Inc./FA
 4/12/19  Anika Therapeutics, Inc.          8-K:5,9     4/09/19    5:230K                                   Globenewswire Inc./FA
 7/31/18  Anika Therapeutics, Inc.          10-Q        6/30/18   62:2.9M                                   Globenewswire Inc./FA
 6/06/18  Anika Therapeutics, Inc.          8-K:5,8,9   5/31/18    4:323K                                   Globenewswire Inc./FA
 3/08/18  Anika Therapeutics, Inc.          8-K:5,8,9   3/02/18    4:141K                                   Globenewswire Inc./FA
10/27/17  Anika Therapeutics, Inc.          10-Q        9/30/17   66:4.1M                                   Globenewswire Inc./FA
 7/27/17  Anika Therapeutics, Inc.          8-K:5,7,9   7/27/17    3:116K                                   Business Wire/FA
 6/19/17  Anika Therapeutics, Inc.          8-K:5,9     6/13/17    6:320K                                   Globenewswire Inc./FA
 2/24/17  Anika Therapeutics, Inc.          10-K       12/31/16   86:5.9M                                   Globenewswire Inc./FA
 5/03/16  Anika Therapeutics, Inc.          10-Q        3/31/16   65:2.6M                                   Globenewswire Inc./FA
10/14/15  Anika Therapeutics, Inc.          8-K:1,9    10/09/15    2:252K                                   Business Wire/FA
 5/05/14  Anika Therapeutics, Inc.          10-Q        3/31/14   61:3.5M                                   Globenewswire Inc./FA
12/22/11  Anika Therapeutics, Inc.          8-K:1,9    12/21/11    3:832K                                   Business Wire/FA
 6/10/11  Anika Therapeutics, Inc.          8-K:5,9     6/07/11    2:108K                                   Business Wire/FA
 3/16/11  Anika Therapeutics, Inc.          10-K       12/31/10   10:2M                                     Business Wire/FA
 1/06/10  Anika Therapeutics, Inc.          8-K:1,2,3,912/30/09    7:1.4M                                   Business Wire/FA
 9/14/09  Anika Therapeutics, Inc.          8-K:5       9/10/09    3:108K                                   Business Wire/FA
10/22/08  Anika Therapeutics, Inc.          8-K:5      10/17/08    3:249K                                   Business Wire/FA
 3/12/08  Anika Therapeutics, Inc.          10-K       12/31/07    8:784K                                   Toppan Merrill-FA
 2/06/08  Anika Therapeutics, Inc.          8-K:1,5,9   1/31/08    4:794K                                   Toppan Merrill/FA
 1/10/07  Anika Therapeutics, Inc.          8-K:1,2,9   1/04/07    2:489K                                   Toppan Merrill/FA
10/05/04  Anika Therapeutics, Inc.          8-K:1,5,9   9/29/04    6:201K                                   Toppan Merrill/FA
 3/30/04  Anika Therapeutics, Inc.          10-K       12/31/03    8:741K                                   Toppan Merrill-FA

↑Top

Filing Submission 0001171843-21-001573 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)