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SEGMENT AND GEOGRAPHIC INFORMATION
6 Months Ended
Jun. 30, 2023
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 TT 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 each reportable segment for the three and six months ended June 30, 2023 and 2022 are as follows:
Three Months Ended June 30,Six Months Ended June 30,
Dollars in thousands2023202220232022
Segment Net Sales
Codman Specialty Surgical$271,030 $257,863 $519,166 $505,171 
Tissue Technologies
110,237 139,952 242,947 269,282 
Total revenues$381,267 $397,815 $762,113 $774,453 
Segment Profit
Codman Specialty Surgical$116,341 $92,196 $227,274 $202,356 
Tissue Technologies
8,062 61,626 60,343115,519 
Segment profit124,403 153,822 287,617 317,875 
Amortization(3,026)(3,304)(6,134)(7,198)
Corporate and other(108,873)(90,651)(232,597)(204,646)
Operating income$12,504 $59,867 $48,886 $106,031 
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,
Dollars in thousands2023202220232022
United States$276,782 $287,347 $547,784 $550,698 
Europe37,452 46,862 78,516 90,606 
Asia Pacific47,706 43,365 98,179 91,082 
Rest of World19,327 20,241 37,634 42,067 
Total Revenues$381,267 $397,815 $762,113 $774,453