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Business Segment Information | 12 Months Ended
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Oct. 31, 2012
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information Cooper uses operating income, as presented in our financial reports, as the primary measure of segment profitability. We do not allocate costs from corporate functions to segment operating income. Items below operating income are not considered when measuring the profitability of a segment. We use the same accounting policies to generate segment results as we do for our consolidated results. Total net sales include sales to customers as reported in our Consolidated Statements of Income and sales between geographic areas that are priced at terms that allow for a reasonable profit for the seller. Operating income (loss) is total net sales less cost of sales, research and development expenses, selling, general and administrative expenses, restructuring costs and amortization of intangible assets. Corporate operating loss is principally corporate headquarters expense. Loss on extinguishment of debt; other income (expense), net and interest expense are not allocated to individual segments. Neither of our business segments relies on any one major customer. Identifiable assets are those used in continuing operations except cash and cash equivalents, which we include as corporate assets. Long-lived assets are property, plant and equipment. The following table presents a summary of our business segment net sales:
(In thousands) | 2012 |  | 2011 |  | 2010
CooperVision net sales by category: |  |  |  |  |
Toric lens | $ | 357,211 |  |  | $ | 339,184 |  |  | $ | 292,732 |
Multifocal lens | 94,443 |  |  | 74,741 |  |  | 71,603 |
Single-use sphere lens | 267,090 |  |  | 243,624 |  |  | 207,250 |
Non single-use sphere and other eye care products and other | 470,500 |  |  | 463,589 |  |  | 398,898 |
Total CooperVision net sales | 1,189,244 |  |  | 1,121,138 |  |  | 970,483 |
CooperSurgical net sales | 255,892 |  |  | 209,697 |  |  | 188,034 |
Total net sales | $ | 1,445,136 |  |  | $ | 1,330,835 |  |  | $ | 1,158,517 |
Information by business segment for each of the years in the three-year period ended October 31, 2012, follows:
(In thousands) | CooperVision |  | CooperSurgical |  | Corporate & Eliminations |  | Consolidated
2012 |  |  |  |  |  |  |
Net sales | $ | 1,189,244 |  |  | $ | 255,892 |  |  | $ | — |  |  | $ | 1,445,136 |
Operating income (loss) | $ | 262,806 |  |  | $ | 58,956 |  |  | $ | (38,364 | ) |  | $ | 283,398 |
Other income, net |  |  |  |  |  |  | 229 |
Interest expense |  |  |  |  |  |  | (11,771 | )
Gain on insurance proceeds |  |  |  |  |  |  | 5,000 |
Loss on extinguishment of debt |  |  |  |  |  |  | (1,404 | )
Income before income taxes |  |  |  |  |  |  | $ | 275,452 |
Identifiable assets | $ | 2,251,476 |  |  | $ | 607,673 |  |  | $ | 82,235 |  |  | $ | 2,941,384 |
Depreciation expense | $ | 82,829 |  |  | $ | 4,106 |  |  | $ | 300 |  |  | $ | 87,235 |
Amortization expense | $ | 15,578 |  |  | $ | 8,401 |  |  | $ | — |  |  | $ | 23,979 |
Capital expenditures | $ | 92,459 |  |  | $ | 6,647 |  |  | $ | 673 |  |  | $ | 99,779 |
2011 |  |  |  |  |  |  |
Net sales | $ | 1,121,138 |  |  | $ | 209,697 |  |  | $ | — |  |  | $ | 1,330,835 |
Operating income (loss) | $ | 207,485 |  |  | $ | 52,420 |  |  | $ | (32,349 | ) |  | $ | 227,556 |
Other expense, net |  |  |  |  |  |  | (963 | )
Interest expense |  |  |  |  |  |  | (17,342 | )
Loss on extinguishment of debt |  |  |  |  |  |  | (16,487 | )
Income before income taxes |  |  |  |  |  |  | $ | 192,764 |
Identifiable assets | $ | 2,206,068 |  |  | $ | 354,020 |  |  | $ | 64,430 |  |  | $ | 2,624,518 |
Depreciation expense | $ | 74,146 |  |  | $ | 3,264 |  |  | $ | 210 |  |  | $ | 77,620 |
Amortization expense | $ | 14,245 |  |  | $ | 6,284 |  |  | $ | — |  |  | $ | 20,529 |
Capital expenditures | $ | 97,131 |  |  | $ | 6,287 |  |  | $ | 247 |  |  | $ | 103,665 |
2010 |  |  |  |  |  |  |
Net sales | $ | 970,483 |  |  | $ | 188,034 |  |  | $ | — |  |  | $ | 1,158,517 |
Operating income (loss) | $ | 171,345 |  |  | $ | 47,064 |  |  | $ | (28,497 | ) |  | $ | 189,912 |
Other expense, net |  |  |  |  |  |  | (1,068 | )
Interest expense |  |  |  |  |  |  | (36,668 | )
Litigation settlement charges |  |  |  |  |  |  | (27,750 | )
Income before income taxes |  |  |  |  |  |  | $ | 124,426 |
Identifiable assets | $ | 2,141,685 |  |  | $ | 328,931 |  |  | $ | 54,402 |  |  | $ | 2,525,018 |
Depreciation expense | $ | 72,717 |  |  | $ | 2,913 |  |  | $ | 315 |  |  | $ | 75,945 |
Amortization expense | $ | 12,361 |  |  | $ | 5,695 |  |  | $ | — |  |  | $ | 18,056 |
Capital expenditures | $ | 69,793 |  |  | $ | 3,871 |  |  | $ | 93 |  |  | $ | 73,757 |
Information by geographical area by country of domicile for each of the years in the three-year period ended October 31, 2012, follows:
(In thousands) | United States |  | Europe |  | Rest of World, Other Eliminations & Corporate |  | Consolidated
2012 |  |  |  |  |  |  |
Sales to unaffiliated customers | $ | 680,757 |  |  | $ | 408,813 |  |  | $ | 355,566 |  |  | $ | 1,445,136 |
Sales between geographic areas | 198,593 |  |  | 318,196 |  |  | (516,789 | ) |  | — |
Net sales | $ | 879,350 |  |  | $ | 727,009 |  |  | $ | (161,223 | ) |  | $ | 1,445,136 |
Operating income | $ | 44,977 |  |  | $ | 5,367 |  |  | $ | 233,054 |  |  | $ | 283,398 |
Long-lived assets | $ | 371,314 |  |  | $ | 261,269 |  |  | $ | 7,672 |  |  | $ | 640,255 |
2011 |  |  |  |  |  |  |
Sales to unaffiliated customers | $ | 627,438 |  |  | $ | 392,152 |  |  | $ | 311,245 |  |  | $ | 1,330,835 |
Sales between geographic areas | 172,618 |  |  | 304,585 |  |  | (477,203 | ) |  | — |
Net sales | $ | 800,056 |  |  | $ | 696,737 |  |  | $ | (165,958 | ) |  | $ | 1,330,835 |
Operating income | $ | 37,113 |  |  | $ | 18,703 |  |  | $ | 171,740 |  |  | $ | 227,556 |
Long-lived assets | $ | 373,211 |  |  | $ | 226,665 |  |  | $ | 9,329 |  |  | $ | 609,205 |
2010 |  |  |  |  |  |  |
Sales to unaffiliated customers | $ | 568,786 |  |  | $ | 345,970 |  |  | $ | 243,761 |  |  | $ | 1,158,517 |
Sales between geographic areas | 143,951 |  |  | 300,948 |  |  | (444,899 | ) |  | — |
Net sales | $ | 712,737 |  |  | $ | 646,918 |  |  | $ | (201,138 | ) |  | $ | 1,158,517 |
Operating income | $ | 57,776 |  |  | $ | (4,935 | ) |  | $ | 137,071 |  |  | $ | 189,912 |
Long-lived assets | $ | 357,200 |  |  | $ | 227,780 |  |  | $ | 8,907 |  |  | $ | 593,887 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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