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Business Segments and Geographic Information | 12 Months Ended
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Sep. 26, 2020
Segment Reporting [Abstract] |
Business Segments and Geographic Information | Business Segments and Geographic InformationThe 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 about how to allocate resources and assess performance. The Company’s chief operating decision maker is its 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 products 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. During the first quarter of fiscal 2020, and each of fiscal 2019 and 2018, the Company had five reportable segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical and Skeletal Health. The Company completed the sale of its Medical Aesthetics business on December 30, 2019, but has continued to incur operating expenses primarily related to indemnification provisions and other matters. The Company measures and evaluates its reportable segments based on segment revenues and operating income adjusted to exclude the effect of non-cash charges, such as intangible asset amortization expense, goodwill and intangible asset impairment charges, transaction and integration expenses for acquisitions, restructuring, consolidation and divestiture charges, litigation charges, and other one-time or unusual items. Identifiable assets for the five reportable segments consist of inventories, intangible assets, goodwill, and property, plant and equipment. The Company fully allocates depreciation expense to its five reportable segments. The Company has presented all other identifiable assets as corporate assets. There were no intersegment revenues. Segment information for fiscal 2020, 2019, and 2018 was as follows:
|  | Years ended
|  | September 26, 2020 |  | September 28, 2019 |  | September 29, 2018
Total revenues: |  |  |  |  |  |
Diagnostics |  | $ | 2,102.1 |  |  | $ | 1,205.5 |  |  | $ | 1,147.4 |
Breast Health |  | 1,151.9 |  |  | 1,314.2 |  |  | 1,218.2 |
GYN Surgical |  | 376.1 |  |  | $ | 437.2 |  |  | 422.0 |
Skeletal Health |  | 81.0 |  |  | 94.8 |  |  | 91.2 |
Medical Aesthetics |  | 65.3 |  |  | 315.6 |  |  | 339.1 |
|  | $ | 3,776.4 |  |  | $ | 3,367.3 |  |  | $ | 3,217.9 |
Operating income (loss): |  |  |  |  |  |
Diagnostics |  | $ | 929.7 |  |  | $ | 163.1 |  |  | $ | 145.5 |
Breast Health |  | 192.8 |  |  | 399.3 |  |  | 399.7 |
GYN Surgical |  | 42.0 |  |  | 99.2 |  |  | 58.3 |
Skeletal Health |  | (2.4) |  |  | (4.2) |  |  | 3.3 |
Medical Aesthetics |  | (57.1) |  |  | (781.2) |  |  | (844.7) |
|  | $ | 1,105.0 |  |  | $ | (123.8) |  |  | $ | (237.9) |
Depreciation and amortization: |  |  |  |  |  |
Diagnostics |  | $ | 237.3 |  |  | $ | 246.6 |  |  | $ | 257.3 |
Breast Health |  | 48.8 |  |  | 36.8 |  |  | 22.7 |
GYN Surgical |  | 85.1 |  |  | 87.7 |  |  | 91.6 |
Skeletal Health |  | 0.7 |  |  | 0.6 |  |  | 0.6 |
Medical Aesthetics |  | 4.1 |  |  | 91.4 |  |  | 108.1 |
|  | $ | 376.0 |  |  | $ | 463.1 |  |  | $ | 480.3 |
Capital expenditures: |  |  |  |  |  |
Diagnostics |  | $ | 110.7 |  |  | $ | 59.2 |  |  | $ | 57.7 |
Breast Health |  | 22.4 |  |  | 18.3 |  |  | 14.8 |
GYN Surgical |  | 17.9 |  |  | 15.7 |  |  | 13.1 |
Skeletal Health |  | 0.2 |  |  | 1.2 |  |  | 3.3 |
Medical Aesthetics |  | 1.4 |  |  | 7.0 |  |  | 9.4 |
Corporate |  | 3.8 |  |  | 7.7 |  |  | 7.3 |
|  | $ | 156.4 |  |  | $ | 109.1 |  |  | $ | 105.6 |
Identifiable assets: |  |  |  |  |  |
Diagnostics |  | $ | 2,161.4 |  |  | $ | 2,276.6 |  |  | $ | 2,442.9 |
Breast Health |  | 1,200.9 |  |  | 1,127.8 |  |  | 972.4 |
GYN Surgical |  | 1,438.7 |  |  | 1,328.6 |  |  | 1,414.9 |
Skeletal Health |  | 38.9 |  |  | 27.3 |  |  | 30.3 |
Medical Aesthetics |  | — |  |  | 159.3 |  |  | 913.3 |
Corporate |  | 2,355.9 |  |  | 1,522.5 |  |  | 1,457.1 |
|  | $ | 7,195.8 |  |  | $ | 6,442.1 |  |  | $ | 7,230.9 |
The Company operates in the following major geographic areas as noted in the below chart. Revenue data is based upon customer location. Other than the United States, no single country accounted for more than 10% of consolidated revenues. The Company’s sales in Europe are predominantly derived from France, the United Kingdom and Germany. The Company’s sales in Asia-Pacific are predominantly derived from China, Australia and Japan. The “Rest of world” designation includes Canada, Latin America and the Middle East. Revenues by geography as a percentage of total revenues were as follows:
|  | Years ended
|  | September 26, 2020 |  | September 28, 2019 |  | September 29, 2018
United States |  | 75.8 | % |  | 75.3 | % |  | 75.1 | %
Europe |  | 15.1 | % |  | 11.8 | % |  | 11.7 | %
Asia-Pacific |  | 6.0 | % |  | 8.5 | % |  | 8.6 | %
Rest of world |  | 3.1 | % |  | 4.4 | % |  | 4.6 | %
|  | 100.0 | % |  | 100.0 | % |  | 100.0 | %
The Company’s property, plant and equipment, net were geographically located as follows:
|  | September 26, 2020 |  | September 28, 2019 |  | September 29, 2018
United States |  | $ | 383.0 |  |  | $ | 355.5 |  |  | $ | 366.5 |
Europe |  | 77.5 |  |  | 64.4 |  |  | 62.0 |
Costa Rica |  | 20.8 |  |  | 33.0 |  |  | 30.9 |
Rest of world |  | 10.2 |  |  | 18.0 |  |  | 18.8 |
|  | $ | 491.5 |  |  | $ | 470.9 |  |  | $ | 478.2 |

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- References No definition available. + Details
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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