Segment Reporting

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Reporting

13.   Segment Reporting. 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. Our chief operating decision maker is our Chief Executive Officer. We evaluate the performance of our operating segments based on net sales and income from operations.

Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the three and nine-month periods ended September 30, 2024 and 2023, were as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Net sales
Cardiovascular	$	322,855	$	306,084	$	964,044	$	905,335
Endoscopy		16,990		9,146		37,312		27,516
Total net sales		339,845		315,230		1,001,356		932,851
Income from operations
Cardiovascular		37,555		32,622		113,374		82,966
Endoscopy		(294)		2,515		5,755		7,366
Total income from operations		37,261		35,137		119,129		90,332
Total other expense — net		(604)		(4,915)		(2,281)		(9,710)
Income tax expense		8,213		4,388		24,438		13,840
Net income	$	28,444	$	25,834	$	92,410	$	66,782