Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the three-month periods ended March 31, 2025 and 2024, were as follows (in thousands):

	Three Months Ended						Three Months Ended
	March 31, 2025						March 31, 2024
	Cardiovascular		Endoscopy		Consolidated		Cardiovascular		Endoscopy		Consolidated
Net sales	$	338,713	$	16,638	$	355,351	$	313,374	$	10,134	$	323,508
Cost of sales standard(1)		138,440		4,363				133,066		3,109
Cost of sales other(2)		37,784		2,744				35,302		316
Selling, general and administrative expenses		100,974		6,512				91,300		3,128
Research and development expenses		21,954		524				20,916		566
Other operating expenses(3)		1,023		—				(117)		—
Income from operations	$	38,538	$	2,495	$	41,033	$	32,907	$	3,015	$	35,922
Total other expense — net						(3,075)						(1,574)
Income before income taxes					$	37,958					$	34,348

(1) Cost of sales standard represents costs of goods sold measured at the internal standard cost for production of inventory. Inventory standard costs include material, labor and manufacturing overhead.

(2) Cost of sales other for all segments includes amortization expense associated with our developed technology and license agreements intangible assets, freight and handling associated with shipments to customers, provisions based on estimated excess, slow moving and obsolete inventories, manufacturing and price variances, and royalties.

(3) Other operating expenses include contingent consideration expense (benefit) related to the changes in fair value of contingent payments associated with acquisitions.

Total depreciation and amortization by operating segment for the three-month periods ended March 31, 2025 and 2024, consisted of the following (in thousands):

	Three Months Ended
	March 31,
	2025		2024
Cardiovascular	$	26,970	$	23,388
Endoscopy		2,322		211
Total	$	29,292	$	23,599