Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

We periodically evaluate our application of accounting guidance for reportable segments and disclose information about reportable segments based on the way management organizes the enterprise for making operating decisions and assessing performance. We report our business under two segments: Global Solutions and Global Products. The Global Solutions segment includes our United States distribution businesses (Medical Distribution and Patient Direct), outsourced logistics and value-added services business. Global Products manufactures and sources medical surgical products through our production and kitting operations.

We evaluate the performance of our segments based on their operating income excluding intangible amortization and acquisition-related and exit and realignment charges that, either as a result of their nature or size, would not be expected to occur as part of our normal business operations on a regular basis.

Segment assets exclude inter-segment account balances as we believe their inclusion would be misleading and not meaningful. We believe all inter-segment sales are at prices that approximate market.

The following tables present financial information by segment:

	Three Months Ended  September 30,				Nine Months Ended  September 30,
	2021		2020		2021		2020
Net revenue:
Segment net revenue
Global Solutions	$	2,022,919	$	1,865,182	$	5,850,007	$	5,261,415
Global Products	679,067		473,797		2,026,385		1,235,391
Total segment net revenue	2,701,986		2,338,979		7,876,392		6,496,806
Inter-segment revenue
Global Products	(199,811)		(151,051)		(558,223)		(378,466)
Total inter-segment revenue	(199,811)		(151,051)		(558,223)		(378,466)
Consolidated net revenue	$	2,502,175	$	2,187,928	$	7,318,169	$	6,118,340
Operating income:
Global Solutions	$	20,366	$	10,972	$	47,729	$	8,522
Global Products	51,327		89,923		310,242		160,268
Inter-segment eliminations	7,587		(8,718)		(475)		(10,322)
Intangible amortization	(10,025)		(10,242)		(30,077)		(31,463)
Acquisition-related and exit and realignment charges	(6,380)		(6,382)		(20,967)		(18,500)
Consolidated operating income	$	62,875	$	75,553	$	306,452	$	108,505
Depreciation and amortization:
Global Solutions	$	9,951	$	9,572	$	29,678	$	31,273
Global Products	12,691		11,118		38,464		38,221
Consolidated depreciation and amortization	$	22,642	$	20,690	$	68,142	$	69,494
Capital expenditures:
Global Solutions	$	5,752	$	3,582	$	14,776	$	7,545
Global Products	8,192		10,656		17,849		15,808
Discontinued operations	—		—		—		3,027
Consolidated capital expenditures	$	13,944	$	14,238	$	32,625	$	26,380

	September 30, 2021		December 31, 2020
Total assets:
Global Solutions	$	2,135,865	$	2,117,372
Global Products	1,408,495		1,135,209
Segment assets	3,544,360		3,252,581
Cash and cash equivalents	39,759		83,058
Consolidated total assets	$	3,584,119	$	3,335,639

The following table presents net revenue by geographic area, which were attributed based on the location from which we ship products or provide services.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net revenue:
United States	$	2,380,794	$	2,101,074	$	6,900,222	$	5,872,143
International	121,381		86,854		417,947		246,197
Consolidated net revenue	$	2,502,175	$	2,187,928	$	7,318,169	$	6,118,340