v2.4.0.8
Business Segments and Geographic Information
 12 Months Ended
Sep. 28, 2013
Segment Reporting [Abstract]  
Business Segments and Geographic Information
15. Business Segments and Geographic Information

The Company reports segment information in accordance with ASC 280, Segment Reporting. Operating segments are identified as components of an enterprise about which separate, discrete financial information is available for evaluation by the chief operating decision maker, or decision-making group, in making decisions how to allocate resources and assess performance. The Company’s chief operating decision maker is the chief executive officer, and the Company’s reportable segments have been identified based on the types of products manufactured and the end markets to which the product are sold. Each reportable segment generates revenue from either the sale of medical equipment and related services and/or sale of disposable supplies, primarily used for diagnostic testing and surgical procedures. The Company has four reportable segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. Certain reportable segments represent an aggregation of operating units within each segment. The Company measures and evaluates its reportable segments based on segment revenues and operating income (loss) adjusted to exclude the effect of non-cash charges, such as intangible asset amortization expense, intangible asset impairment charges, contingent consideration charges, restructuring and divestiture charges, and other one-time or unusual items, and related tax effects.

 

Identifiable assets for the four principal operating segments consist of inventories, intangible assets including goodwill, and property and equipment. The Company fully allocates depreciation expense to its four reportable segments. The Company presents all other identifiable assets as corporate assets. There were no intersegment revenues. Segment information for fiscal 2013, 2012 and 2011 is as follows:

 

     Years ended  
   September 28,
2013		     September 29,
2012		     September 24,
2011		  

Total revenues:

       

Diagnostics

    $ 1,189,819      $ 718,064      $ 571,263   

Breast Health

      905,076        875,771        825,551   

GYN Surgical

      307,139        313,089        300,538   

Skeletal Health

      90,245        95,728        91,997   
  

 

 

    

 

 

    

 

 

  
   $ 2,492,279      $ 2,002,652      $ 1,789,349   
  

 

 

    

 

 

    

 

 

  

Operating (loss) income:

       

Diagnostics

    $ (1,149,132 )    $ (32,787 )    $ 170,693   

Breast Health

      216,049        186,106        187,970   

GYN Surgical

      19,664        (51,892 )      3,623   

Skeletal Health

      7,137        12,290        12,159   
  

 

 

    

 

 

    

 

 

  
   $ (906,282 )    $ 113,717      $ 374,445   
  

 

 

    

 

 

    

 

 

  

Depreciation and amortization:

       

Diagnostics

    $ 369,818      $ 197,274      $ 165,065   

Breast Health

      40,098        42,924        45,165   

GYN Surgical

      105,233        103,781        92,587   

Skeletal Health

      861        1,772        1,919   
  

 

 

    

 

 

    

 

 

  
   $ 516,010      $ 345,751      $ 304,736   
  

 

 

    

 

 

    

 

 

  

Capital expenditures:

       

Diagnostics

    $ 51,653      $ 44,939      $ 23,128   

Breast Health

      16,386        9,821        12,069   

GYN Surgical

      9,145        12,233        11,467   

Skeletal Health

      562        171        2,198   

Corporate

      12,384        11,609        6,801   
  

 

 

    

 

 

    

 

 

  
   $ 90,130      $ 78,773      $ 55,663   
  

 

 

    

 

 

    

 

 

  

Identifiable assets:

       

Diagnostics

    $ 4,667,942      $ 6,170,553      $ 1,770,107   

Breast Health

      932,206        956,134        985,196   

GYN Surgical

      1,849,518        1,944,386        2,049,682   

Skeletal Health

      33,508        32,778        31,864   

Corporate

      1,517,649        1,373,257        1,171,931   
  

 

 

    

 

 

    

 

 

  
   $ 9,000,823      $ 10,477,108      $ 6,008,780   
  

 

 

    

 

 

    

 

 

  

In fiscal 2013, the Company recorded a goodwill impairment charge of $1.1 billion related to its Molecular Diagnostics reporting unit, which is in its Diagnostics segment. In fiscal 2012, the Company recorded a goodwill impairment charge of $5.8 million related to its MammoSite reporting unit, which is in its Breast Health segment.

Products sold by the Company internationally are manufactured at domestic and international locations. Transfers between the Company and its subsidiaries are generally recorded at amounts similar to the prices paid by unaffiliated foreign dealers. All intercompany profit is eliminated in consolidation.

 

The Company operates in the following major geographic areas as noted in the below chart. Revenue data is based upon customer location, and internationally totaled $621.7 million, $511.2 million and $414.4 million in fiscal 2013, 2012 and 2011, respectively. The Company’s sales in Europe are predominantly derived from Germany, the United Kingdom and the Netherlands. The Company’s sales in Asia-Pacific are predominantly derived from China, Australia and Japan. The “All others” designation includes Canada, Latin America and the Middle East.

Revenues by geography as a percentage of total revenues are as follows:

 

     Years ended  
     September 28,
2013		     September 29,
2012		     September 24,
2011		  

United States

      75 %      74 %      77 % 

Europe

      13 %      12 %      14 % 

Asia-Pacific

      8 %      8 %      6 % 

All others

      4 %      6 %      3 % 
  

 

 

    

 

 

    

 

 

  
     100 %      100 %      100 % 
  

 

 

    

 

 

    

 

 

  

The Company’s property and equipment, net are geographically located as follows:

 

     September 28,
2013		      September 29,
2012		      September 24,
2011		  

United States

    $ 386,049       $ 405,141       $ 165,177   

Costa Rica

      29,258         30,452         34,107   

Europe

      61,472         59,927         29,591   

All other countries

      14,749         12,478         9,791   
  

 

 

     

 

 

     

 

 

  
   $ 491,528       $ 507,998       $ 238,666