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Segment Information (Tables)
6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Summary of Net sales and Operating Profit by Segment

Net sales and operating profit by segment are as follows (in millions):

 

 

 

Net Sales

 

 

Operating (Loss) Profit

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Americas and Global Businesses

 

$

757.5

 

 

$

1,255.1

 

 

$

83.0

 

 

$

427.2

 

EMEA

 

 

204.1

 

 

 

405.8

 

 

 

20.0

 

 

 

117.5

 

Asia Pacific

 

 

264.5

 

 

 

327.7

 

 

 

78.4

 

 

 

118.0

 

Corporate Functions

 

 

-

 

 

 

-

 

 

 

(111.6

)

 

 

(117.5

)

Total

 

$

1,226.1

 

 

$

1,988.6

 

 

 

 

 

 

 

 

 

Inventory and manufacturing-related charges

 

 

 

 

 

 

 

 

 

 

(1.4

)

 

 

(34.1

)

Intangible asset amortization

 

 

 

 

 

 

 

 

 

 

(147.7

)

 

 

(146.9

)

Intangible asset impairment

 

 

 

 

 

 

 

 

 

 

(33.0

)

 

 

(70.1

)

Restructuring and other cost reduction initiatives

 

 

 

 

 

 

 

 

 

 

(28.0

)

 

 

(6.9

)

Quality remediation

 

 

 

 

 

 

 

 

 

 

(9.9

)

 

 

(23.4

)

Acquisition, integration and related

 

 

 

 

 

 

 

 

 

 

(2.2

)

 

 

(5.1

)

Litigation

 

 

 

 

 

 

 

 

 

 

(1.3

)

 

 

(7.0

)

European Union Medical Device Regulation

 

 

 

 

 

 

 

 

 

 

(6.1

)

 

 

(5.1

)

Other charges

 

 

 

 

 

 

 

 

 

 

(11.9

)

 

 

(41.9

)

Operating (loss) profit

 

 

 

 

 

 

 

 

 

$

(171.7

)

 

$

204.7

 

 

 

 

Net Sales

 

 

Operating (Loss) Profit

 

 

 

Six Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Americas and Global Businesses

 

$

1,894.1

 

 

$

2,490.7

 

 

$

451.8

 

 

$

817.2

 

EMEA

 

 

575.4

 

 

 

834.7

 

 

 

128.8

 

 

 

256.7

 

Asia Pacific

 

 

540.4

 

 

 

638.7

 

 

 

171.0

 

 

 

231.5

 

Corporate Functions

 

 

-

 

 

 

-

 

 

 

(215.6

)

 

 

(235.2

)

Total

 

$

3,009.9

 

 

$

3,964.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventory and manufacturing-related charges

 

 

 

 

 

 

 

 

 

 

(2.0

)

 

 

(36.1

)

Intangible asset amortization

 

 

 

 

 

 

 

 

 

 

(295.3

)

 

 

(290.3

)

Goodwill and intangible asset impairment

 

 

 

 

 

 

 

 

 

 

(645.0

)

 

 

(70.1

)

Restructuring and other cost reduction initiatives

 

 

 

 

 

 

 

 

 

 

(73.0

)

 

 

(11.6

)

Quality remediation

 

 

 

 

 

 

 

 

 

 

(25.8

)

 

 

(43.1

)

Acquisition, integration and related

 

 

 

 

 

 

 

 

 

 

(6.6

)

 

 

(11.1

)

Litigation

 

 

 

 

 

 

 

 

 

 

(81.1

)

 

 

(5.2

)

Litigation settlement gain

 

 

 

 

 

 

 

 

 

 

-

 

 

 

23.5

 

European Union Medical Device Regulation

 

 

 

 

 

 

 

 

 

 

(17.1

)

 

 

(6.7

)

Other charges

 

 

 

 

 

 

 

 

 

 

(17.8

)

 

 

(64.6

)

Operating (loss) profit

 

 

 

 

 

 

 

 

 

$

(627.7

)

 

$

554.9