Disaggregation of Revenues, Geographic Sales and Product Sales

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Disaggregation of Revenues, Geographic Sales and Product Sales

Note 17 — Disaggregation of Revenues, Geographic Sales and Product Sales

In the following tables, revenues are disaggregated by category, sales by geographic market and sales by product data.  The following breaks down revenues into the following categories (in thousands):  

	Years Ended
	2021		2020		2019
Non-consignment sales	$	210,517	$	137,369	$	132,716
Consignment sales		19,955		26,091		17,469
Total net sales	$	230,472	$	163,460	$	150,185

The Company markets and sells its products in more than 75 countries and conducts its manufacturing in the United States. Other than China and Japan, the Company does not conduct business in any country in which its sales in that country exceed 10% of consolidated net sales. Sales are attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands):

	Years Ended
	2021		2020		2019
Domestic	$	10,095	$	6,158	$	8,106
Foreign:
China(1)		107,333		71,692		64,820
Japan		40,973		34,986		26,881
Other(2)		72,071		50,624		50,378
Total foreign sales		220,377		157,302		142,079
Total net sales	$	230,472	$	163,460	$	150,185

⁽¹⁾ The China region includes sales into China and Hong Kong.  

⁽²⁾ No other location individually exceeds 10% of the total net sales.

100% of the Company’s sales are generated from the ophthalmic surgical product segment and the chief operating decision maker makes the operating decisions and allocates resources based upon the consolidated operating results, therefore, the Company operates as one operating segment for financial reporting purposes. The Company’s principal products are IOLs used in cataract surgery and ICLs used in refractive surgery.  The composition of the Company’s net sales by product line was as follows (in thousands):

	Years Ended
	2021		2020		2019
ICLs	$	212,905	$	141,407	$	129,322
Other product sales
Cataract IOLs		12,519		13,574		15,689
Other surgical products		5,048		8,479		5,174
Total other product sales		17,567		22,053		20,863
Total net sales	$	230,472	$	163,460	$	150,185

The Company sells its products internationally, which subjects the Company to several potential risks, including fluctuating exchange rates (to the extent the Company’s transactions are not in U.S. dollars), regulation of fund transfers by foreign governments, U.S. and foreign export and import duties and tariffs, and political instability.