Segment Reporting and Foreign Operations

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Reporting and Foreign Operations

13.SEGMENT REPORTING AND FOREIGN OPERATIONS

We report our operations in two operating segments: cardiovascular and endoscopy. Our cardiovascular segment consists of four product categories: peripheral intervention, cardiac intervention, custom procedural solutions, and OEM. Within these product categories, we sell a variety of products, including cardiology and radiology devices (which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases), as well as embolotherapeutic, cardiac rhythm management, electrophysiology, critical care, breast cancer localization and guidance, biopsy, and interventional oncology and spine devices. Our endoscopy segment consists of gastroenterology and pulmonology devices which assist in the palliative treatment of expanding esophageal, tracheobronchial and biliary strictures caused by malignant tumors. We evaluate the performance of our operating segments based on net sales and operating income (loss). See Note 2 for a detailed breakout of our sales by operating segment and product category, disaggregated between domestic and international sales.

During the years ended December 31, 2020, 2019 and 2018, we had international sales of approximately $413.8 million, $419.1 million and $386.3 million, respectively, or approximately 43%, 42% and 44%, respectively, of net sales, primarily in China, Japan, Germany, France, the United Kingdom, Australia, and Russia. China represents our most significant international sales market with sales of approximately $113.2 million, $113.3 million, and $92.7 million for the years ended December 31, 2020, 2019 and 2018, respectively. International sales are attributed based on location of the customer receiving the product.

Our long-lived assets (which are comprised of our net property and equipment) by geographic area at December 31, 2020, 2019 and 2018, consisted of the following (in thousands):

	2020		2019		2018
United States	$	277,643	$	273,816	$	231,864
Ireland		42,951		44,912		45,283
Other foreign countries		62,134		60,057		54,305
Total	$	382,728	$	378,785	$	331,452

Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the years ended December 31, 2020, 2019 and 2018, are as follows (in thousands):

	2020		2019		2018
Net Sales
Cardiovascular	$	934,202	$	960,981	$	849,477
Endoscopy		29,673		33,871		33,276
Total net sales		963,875		994,852		882,753
Operating Income (Loss)
Cardiovascular		(7,042)		25,780		49,289
Endoscopy		5,480		(10,346)		9,328
Total operating income (loss)		(1,562)		15,434		58,617
Total other expense - net		(11,669)		(13,241)		(9,098)
Income tax (benefit) expense		(3,388)		(3,258)		7,502
Net income (loss)	$	(9,843)	$	5,451	$	42,017

Total assets by operating segment at December 31, 2020, 2019 and 2018, consisted of the following (in thousands):

	2020		2019		2018
Cardiovascular	$	1,654,866	$	1,745,057	$	1,588,970
Endoscopy		9,530		12,264		31,042
Total	$	1,664,396	$	1,757,321	$	1,620,012

Total depreciation and amortization by operating segment for the years ended December 31, 2020, 2019 and 2018, consisted of the following (in thousands):

	2020		2019		2018
Cardiovascular	$	93,160	$	91,151	$	68,722
Endoscopy		910		949		824
Total	$	94,070	$	92,100	$	69,546

Total capital expenditures for property and equipment by operating segment for the years ended December 31, 2020, 2019 and 2018, consisted of the following (in thousands):

	2020		2019		2018
Cardiovascular	$	45,803	$	77,631	$	63,032
Endoscopy		185		542		292
Total	$	45,988	$	78,173	$	63,324