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Segment Information (Tables)
9 Months Ended
Sep. 30, 2021
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 Profit

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Americas Orthopedics

 

$

1,009.4

 

 

$

1,033.2

 

 

$

422.2

 

 

$

452.1

 

EMEA

 

 

366.2

 

 

 

339.7

 

 

 

88.3

 

 

 

84.6

 

Asia Pacific

 

 

339.9

 

 

 

336.0

 

 

 

114.7

 

 

 

113.4

 

Americas Spine and Global Dental

 

 

208.5

 

 

 

220.4

 

 

 

27.8

 

 

 

39.3

 

Total

 

$

1,924.0

 

 

$

1,929.3

 

 

 

 

 

 

 

 

 

Corporate Functions

 

 

 

 

 

 

 

 

 

 

(151.2

)

 

 

(181.3

)

Inventory and manufacturing-related charges

 

 

 

 

 

 

 

 

 

 

(11.0

)

 

 

(2.3

)

Intangible asset amortization

 

 

 

 

 

 

 

 

 

 

(153.7

)

 

 

(149.7

)

Restructuring and other cost reduction initiatives

 

 

 

 

 

 

 

 

 

 

(23.3

)

 

 

(16.2

)

Quality remediation

 

 

 

 

 

 

 

 

 

 

(11.8

)

 

 

(10.0

)

Acquisition, integration, divestiture and related

 

 

 

 

 

 

 

 

 

 

(27.3

)

 

 

(9.1

)

Litigation

 

 

 

 

 

 

 

 

 

 

(43.6

)

 

 

(19.3

)

European Union Medical Device Regulation

 

 

 

 

 

 

 

 

 

 

(11.9

)

 

 

(2.0

)

Other charges

 

 

 

 

 

 

 

 

 

 

(4.3

)

 

 

(0.3

)

Operating profit

 

 

 

 

 

 

 

 

 

$

214.9

 

 

$

299.2

 

 

 

 

Net Sales

 

 

Operating Profit (Loss)

 

 

 

Nine Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Americas Orthopedics

 

$

3,013.9

 

 

$

2,602.7

 

 

$

1,254.7

 

 

$

1,059.1

 

EMEA

 

 

1,108.2

 

 

 

915.1

 

 

 

269.8

 

 

 

213.5

 

Asia Pacific

 

 

1,022.5

 

 

 

876.4

 

 

 

346.4

 

 

 

284.4

 

Americas Spine and Global Dental

 

 

653.7

 

 

 

545.0

 

 

 

106.9

 

 

 

61.8

 

Total

 

$

5,798.3

 

 

$

4,939.2

 

 

 

 

 

 

 

 

 

Corporate Functions

 

 

 

 

 

 

 

 

 

 

(469.6

)

 

 

(574.7

)

Inventory and manufacturing-related charges

 

 

 

 

 

 

 

 

 

 

(13.0

)

 

 

(4.3

)

Intangible asset amortization

 

 

 

 

 

 

 

 

 

 

(463.8

)

 

 

(445.0

)

Goodwill and intangible asset impairment

 

 

 

 

 

 

 

 

 

 

(16.3

)

 

 

(645.0

)

Restructuring and other cost reduction initiatives

 

 

 

 

 

 

 

 

 

 

(64.9

)

 

 

(89.2

)

Quality remediation

 

 

 

 

 

 

 

 

 

 

(33.0

)

 

 

(35.8

)

Acquisition, integration, divestiture and related

 

 

 

 

 

 

 

 

 

 

(66.1

)

 

 

(15.7

)

Litigation

 

 

 

 

 

 

 

 

 

 

(53.3

)

 

 

(100.4

)

European Union Medical Device Regulation

 

 

 

 

 

 

 

 

 

 

(29.4

)

 

 

(19.1

)

Certain R&D agreements

 

 

 

 

 

 

 

 

 

 

(65.0

)

 

-

 

Other charges

 

 

 

 

 

 

 

 

 

 

(2.4

)

 

 

(18.1

)

Operating profit (loss)

 

 

 

 

 

 

 

 

 

$

701.0

 

 

$

(328.5

)