SEGMENT AND GEOGRAPHIC INFORMATION

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

SEGMENT AND GEOGRAPHIC INFORMATION

The Company internally manages two global reportable segments and reports the results of its businesses to its chief operating decision maker. The two reportable segments and their activities are described below.

• The Codman Specialty Surgical segment includes (i) the Neurosurgery business, which sells a full line of products for neurosurgery and neuro critical care such as tissue ablation equipment, dural repair products, cerebral spinal fluid management devices, intracranial monitoring equipment, and cranial stabilization equipment and (ii) the instruments business, which sells more than 40,000 instrument patterns and surgical and lighting products to hospitals, surgery centers, dental, podiatry, and veterinary offices.

• The Orthopedics and Tissue Technologies segment includes such offerings as skin and wound repair, bone and joint fixation implants in the upper and lower extremities, bone grafts, and nerve and tendon repair products.

The Corporate and other category includes (i) various executive, finance, human resource, information systems and legal functions, (ii) brand management, and (iii) share-based compensation costs.

The operating results of the various reportable segments as presented are not comparable to one another because (i) certain operating segments are more dependent than others on corporate functions for unallocated general and administrative and/or operational manufacturing functions and (ii) the Company does not allocate certain manufacturing costs and general and administrative costs to the operating segment results. Net sales and profit by each reportable segment for the three and six months ended June 30, 2020 and 2019 are as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
	(In thousands)						(In thousands)
Segment Net Sales
Codman Specialty Surgical	$	169,778		$	249,258		$	401,218		$	483,826
Orthopedics and Tissue Technologies	88,887			134,387			211,771			259,509
Total revenues	$	258,665		$	383,645		$	612,989		$	743,335
Segment Profit
Codman Specialty Surgical	$	65,256		$	99,241		$	152,491		$	190,622
Orthopedics and Tissue Technologies	28,688			41,787			59,958			82,282
Segment profit	93,944			141,028			212,449			$	272,904
Amortization	(8,073		)	(11,004)			$	(15,050	)	(16,284)
Corporate and other	(71,791		)	(84,065		)	(156,216		)	(178,353		)
Operating income	$	14,080		$	45,959		$	41,183		$	78,267

The Company does not allocate any assets to the reportable segments. No asset information is reported to the chief operating decision maker and disclosed in the financial information for each segment.

The Company attributes revenues to geographic areas based on the location of the customer. Total revenue by major geographic area consisted of the following:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
	(In thousands)				(In thousands)
United States	$	181,850	$	273,390	$	428,702	$	530,116
Europe	32,026		50,871		77,922		99,511
Asia Pacific	33,501		37,031		73,461		72,731
Rest of World	11,288		22,353		32,904		40,977
Total Revenues	$	258,665	$	383,645	$	612,989	$	743,335