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Business Segments and Geographic Information | 12 Months Ended
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Sep. 25, 2021
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 fiscal 2021, the Company had four reportable segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. During the first quarter of fiscal 2020 and fiscal 2019, 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. 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 reportable segments consist of inventories, intangible assets, goodwill, and property, plant and equipment. The Company fully allocates depreciation expense to its reportable segments. The Company has presented all other identifiable assets as corporate assets. There were no intersegment revenues. Segment information for fiscal 2021, 2020, and 2019 was as follows:
|  | Years ended
|  | September 25, 2021 |  | September 26, 2020 |  | September 28, 2019
Total revenues: |  |  |  |  |  |
Diagnostics |  | $ | 3,695.0 |  |  | $ | 2,102.1 |  |  | $ | 1,205.5 |
Breast Health |  | 1,352.3 |  |  | 1,151.9 |  |  | 1,314.2 |
GYN Surgical |  | 488.1 |  |  | 376.1 |  |  | 437.2 |
Skeletal Health |  | 96.9 |  |  | 81.0 |  |  | 94.8 |
Medical Aesthetics |  | — |  |  | 65.3 |  |  | 315.6 |
|  | $ | 5,632.3 |  |  | $ | 3,776.4 |  |  | $ | 3,367.3 |
Operating income (loss): |  |  |  |  |  |
Diagnostics |  | $ | 2,140.1 |  |  | $ | 929.7 |  |  | $ | 163.1 |
Breast Health |  | 284.2 |  |  | 192.8 |  |  | 399.3 |
GYN Surgical |  | 58.9 |  |  | 42.0 |  |  | 99.2 |
Skeletal Health |  | (2.9) |  |  | (2.4) |  |  | (4.2) |
Medical Aesthetics |  | — |  |  | (57.1) |  |  | (781.2) |
|  | $ | 2,480.3 |  |  | $ | 1,105.0 |  |  | $ | (123.8) |
Depreciation and amortization: |  |  |  |  |  |
Diagnostics |  | $ | 260.4 |  |  | $ | 237.3 |  |  | $ | 246.6 |
Breast Health |  | 52.7 |  |  | 48.8 |  |  | 36.8 |
GYN Surgical |  | 93.1 |  |  | 85.1 |  |  | 87.7 |
Skeletal Health |  | 0.7 |  |  | 0.7 |  |  | 0.6 |
Medical Aesthetics |  | — |  |  | 4.1 |  |  | 91.4 |
|  | $ | 406.9 |  |  | $ | 376.0 |  |  | $ | 463.1 |
Capital expenditures: |  |  |  |  |  |
Diagnostics |  | $ | 126.2 |  |  | $ | 110.7 |  |  | $ | 59.2 |
Breast Health |  | 14.2 |  |  | 22.4 |  |  | 18.3 |
GYN Surgical |  | 14.5 |  |  | 17.9 |  |  | 15.7 |
Skeletal Health |  | 0.3 |  |  | 0.2 |  |  | 1.2 |
Medical Aesthetics |  | — |  |  | 1.4 |  |  | 7.0 |
Corporate |  | 1.0 |  |  | 3.8 |  |  | 7.7 |
|  | $ | 156.2 |  |  | $ | 156.4 |  |  | $ | 109.1 |
Identifiable assets: |  |  |  |  |  |
Diagnostics |  | $ | 3,348.8 |  |  | $ | 2,161.4 |  |  | $ | 2,276.6 |
Breast Health |  | 1,233.9 |  |  | 1,200.9 |  |  | 1,127.8 |
GYN Surgical |  | 1,369.7 |  |  | 1,438.7 |  |  | 1,328.6 |
Skeletal Health |  | 31.9 |  |  | 38.9 |  |  | 27.3 |
Medical Aesthetics |  | — |  |  | — |  |  | 159.3 |
Corporate |  | 2,935.6 |  |  | 2,355.9 |  |  | 1,522.5 |
|  | $ | 8,919.9 |  |  | $ | 7,195.8 |  |  | $ | 6,442.1 |
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 25, 2021 |  | September 26, 2020 |  | September 28, 2019
United States |  | 69.3 | % |  | 75.8 | % |  | 75.3 | %
Europe |  | 21.3 | % |  | 15.1 | % |  | 11.8 | %
Asia-Pacific |  | 6.5 | % |  | 6.0 | % |  | 8.5 | %
Rest of world |  | 2.9 | % |  | 3.1 | % |  | 4.4 | %
|  | 100.0 | % |  | 100.0 | % |  | 100.0 | %
The Company’s property, plant and equipment, net were geographically located as follows:
|  | September 25, 2021 |  | September 26, 2020 |  | September 28, 2019
United States |  | $ | 403.2 |  |  | $ | 383.0 |  |  | $ | 355.5 |
Europe |  | 122.9 |  |  | 77.5 |  |  | 64.4 |
Costa Rica |  | 26.9 |  |  | 20.8 |  |  | 33.0 |
Rest of world |  | 11.7 |  |  | 10.2 |  |  | 18.0 |
|  | $ | 564.7 |  |  | $ | 491.5 |  |  | $ | 470.9 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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