SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 31, 2022

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 Tissue Technologies segment includes such offerings as skin and wound repair, plastics & surgical reconstruction products, 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 reportable segment for the years ended December 31, 2022, 2021 and 2020 are as follows:

	Years Ended December 31,
Dollars in thousands	2022		2021		2020
Segment Net Sales
Codman Specialty Surgical	$	1,019,564	$	1,025,232	$	894,831
Tissue Technologies	538,102		517,216		477,037
Total revenues	$	1,557,666	$	1,542,448	$	1,371,868
Segment Profit
Codman Specialty Surgical	$	417,873	$	439,471	$	356,657
Tissue Technologies	233,802		228,199		159,630
Segment profit	651,675		667,670		516,287
Amortization	(13,882)		(16,914)		(27,757)
Corporate and other	(398,873)		(453,526)		(337,160)
Operating income	$	238,920	$	197,230	$	151,370

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 revenue to geographic areas based on the location of the customer. Total revenue, net and long-lived assets (tangible) by major geographic area are summarized below:

Dollars in thousands	United States(1)		Europe		Asia Pacific		Rest of the World		Consolidated
Total revenue, net:
2022	$	1,126,810	$	170,903	$	176,477	$	83,476	$	1,557,666
2021	1,089,526		191,327		182,034		79,561		1,542,448
2020	971,975		172,689		157,174		70,030		1,371,868
Total long-lived assets:
2022	$	440,223	$	60,857	$	12,975	$	2,721	$	516,776
2021	339,535		55,026		11,289		6,836		412,686