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Segment and Geographic Information (Tables)
 3 Months Ended
Apr. 03, 2022
Segment Reporting [Abstract]  
Net Revenue by Segment

Net revenue by segment is as follows:

 

 

Fiscal Quarter Ended

 

 

 

April 3, 2022

 

 

April 4, 2021

 

Americas

 

$

315.4

 

 

$

321.4

 

EMEA

 

 

68.7

 

 

 

68.5

 

Greater China

 

 

54.5

 

 

 

55.0

 

Net revenue of reportable segments

 

$

438.7

 

 

$

444.9

 

Other

 

 

61.4

 

 

 

61.9

 

        Net revenue

 

$

500.1

 

 

$

506.8

 
Adjusted EBITDA by Segment

Adjusted EBITDA by segment is as follows:

 

 

Fiscal Quarter Ended

 

 

 

April 3, 2022

 

 

April 4, 2021

 

Americas

 

$

143.2

 

 

$

141.1

 

EMEA

 

 

19.7

 

 

 

17.5

 

Greater China

 

 

24.7

 

 

 

25.2

 

Other

 

 

17.0

 

 

 

19.4

 

Total Segment Adjusted EBITDA (a)

 

 

204.6

 

 

 

203.2

 

   Corporate (b)

 

 

(65.2

)

 

 

(50.8

)

   Depreciation and amortization

 

 

(79.4

)

 

 

(82.7

)

   Interest expense, net

 

 

(32.5

)

 

 

(43.4

)

   Loss on extinguishment of debt

 

 

—

 

 

 

(50.3

)

   Stock-based compensation

 

 

(2.5

)

 

 

(3.5

)

   Restructuring and severance-related costs

 

 

(1.0

)

 

 

(1.3

)

   Quidel acquisition-related costs

 

 

(5.7

)

 

 

—

 

   Tax indemnification income, net

 

 

0.2

 

 

 

0.2

 

   Costs related to Ortho's initial public offering

 

 

—

 

 

 

(3.8

)

   EU medical device regulation transition costs

 

 

(0.7

)

 

 

(0.9

)

   Other adjustments

 

 

0.4

 

 

 

(2.5

)

Income (loss) before provision for income taxes

 

$

18.3

 

 

$

(35.8

)

 

(a)
For a reconciliation of Net income (loss) to Adjusted EBITDA, refer to Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Use of Non-GAAP Financial Measures - Reconciliation of Net Income (Loss) to Adjusted EBITDA.
(b)
Corporate primarily consists of costs related to executive and staff functions, including certain finance, human resources, manufacturing and information technology, which benefit the Company as a whole. These costs are primarily related to the general management of these functions on a corporate level and the design and development of programs, policies and procedures that are then implemented in the individual segments, with each segment bearing its own cost of implementation. The Company’s corporate function also includes debt and stock-based compensation associated with all employee stock-based awards.