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Geographic and Segment Information (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Revenue from External Customers by Geographic Areas The following table presents net revenue by operating segment and geographic region (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Cardiopulmonary
United States$62,504 $52,281 $177,954 $141,891 
Europe (1)
40,894 35,484 120,387 111,208 
Rest of World68,841 61,190 203,503 185,713 
172,239 148,955 501,844 438,812 
Neuromodulation
United States112,906 102,475 330,518 301,029 
Europe (1)
11,922 12,661 40,919 41,066 
Rest of World15,033 13,744 45,172 40,689 
139,861 128,880 416,609 382,784 
Other Revenue (2)
6,020 8,278 13,154 21,817 
Totals (3)
United States179,828 161,583 519,985 461,823 
Europe (1)
52,815 48,129 158,414 152,231 
Rest of World85,477 76,401 253,208 229,359 
$318,120 $286,113 $931,607 $843,413 
(1)Includes countries in Europe where the Company has a direct sales presence. Countries in Europe where sales are made through distributors are included in “Rest of World.”
(2)“Other Revenue” includes revenue from the Company’s former ACS reportable segment, as discussed above, as well as rental and site services income not allocated to segments.
(3)No single customer represented over 10% of the Company’s consolidated net revenue. No country’s net revenue exceeded 10% of the Company’s consolidated net revenue except for the U.S.
Schedule of Segment Reporting Information, by Segment The following table presents a reconciliation of segment income to consolidated income (loss) before tax (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Cardiopulmonary$21,669 $(2,192)$56,007 $19,794 
Neuromodulation49,533 41,930 151,023 107,084 
Segment income71,202 39,738 207,030 126,878 
Other income/(expense)(35,584)(35,280)(115,000)(107,386)
Operating income35,618 4,458 92,030 19,492 
Interest expense (1)
(15,878)(14,986)(47,303)(43,232)
Loss on debt extinguishment— — (25,482)— 
Foreign exchange and other income/(expense)24,701 8,550 12,585 36,810 
Income (loss) before tax$44,441 $(1,978)$31,830 $13,070 
(1)“Interest expense” includes contractual interest expense associated with LivaNova’s short and long-term financing arrangements and the amortization of debt discount and issuance costs of $5.5 million and $15.7 million for the three and nine months ended September 30, 2024, respectively, and $4.7 million and $14.2 million for the three and nine months ended September 30, 2023, respectively.
The following table presents assets by reportable segment (in thousands):
September 30, 2024December 31, 2023
Cardiopulmonary$966,769 $964,735 
Neuromodulation635,272 647,391 
Other assets (1)
919,917 817,437 
$2,521,958 $2,429,563 
(1)“Other assets” primarily includes corporate assets not allocated to segments and the assets of LivaNova’s former ACS reportable segment.
The following table presents capital expenditures by reportable segment (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Cardiopulmonary$7,383 $4,144 $18,657 $11,485 
Neuromodulation1,379 597 2,380 1,089 
Other capital expenditures (1)
5,318 3,441 13,241 9,514 
$14,080 $8,182 $34,278 $22,088 
(1)“Other capital expenditures” primarily includes corporate capital expenditures not allocated to segments and capital expenditures of LivaNova’s former ACS reportable segment.
Schedule of Goodwill by Segment
The following table presents changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2024 (in thousands):
CardiopulmonaryNeuromodulationTotal
December 31, 2023$384,187 $398,754 $782,941 
Foreign currency adjustments(1,388)— (1,388)
September 30, 2024$382,799 $398,754 $781,553 
Long-lived Assets by Geographic Areas
The following table presents property, plant, and equipment, net by geographic region (in thousands):
September 30, 2024December 31, 2023
United States$73,323 $62,701 
Europe89,226 85,606 
Rest of World6,768 5,874 
$169,317 $154,181