SEGMENT AND GEOGRAPHIC INFORMATION

9 Months Ended

Sep. 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 nine months ended September 30, 2020 and 2019 are as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
	(In thousands)						(In thousands)
Segment Net Sales
Codman Specialty Surgical	$	239,323		$	252,984		$	640,541		$	736,810
Orthopedics and Tissue Technologies	130,909			126,111			342,680			385,620
Total revenues	$	370,232		$	379,095		$	983,221		$	1,122,430
Segment Profit
Codman Specialty Surgical	$	97,061		$	101,129		$	249,552		$	291,750
Orthopedics and Tissue Technologies	50,132			30,383			110,091			112,664
Segment profit	147,193			131,512			359,643			$	404,414
Amortization	(8,343		)	(5,056)			$	(23,393	)	(21,340)
Corporate and other	(81,308		)	(147,043		)	(237,525		)	(325,394		)
Operating income	$	57,542		$	(20,587	)	$	98,725		$	57,680

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 September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)				(In thousands)
United States	$	266,477	$	266,280	$	695,179	$	796,397
Europe	45,995		49,242		123,917		148,753
Asia Pacific	40,473		42,079		113,934		114,810
Rest of World	17,287		21,494		50,191		62,470
Total Revenues	$	370,232	$	379,095	$	983,221	$	1,122,430