XML 44 R22.htm IDEA: XBRL DOCUMENT
v3.21.2

Business Segment Information | 12 Months Ended
--- | ---
Oct. 31, 2021
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information The Company discloses information about its operating segments, which were established based on the way that management organizes segments within the Company for making operating decisions and assessing financial performance. The Company's two operating segments are described below. •CooperVision. Competes in the worldwide contact lens market by developing, manufacturing and marketing a broad range of products for contact lens wearers, featuring advanced materials and optics. CooperVision designs its products to solve vision challenges such as astigmatism, presbyopia, myopia, ocular dryness and eye fatigues, with a broad collection of spherical, toric and multifocal contact lenses. •CooperSurgical. Competes in the general health care market with a focus on advancing the health of women, babies and families through a diversified portfolio of products and services focusing on women's health and fertility. 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, selling, general and administrative expenses, research and development expenses, amortization and intangible impairments. Corporate operating loss is principally corporate headquarters expense. Interest expense, and other income and expenses are not allocated to individual segments. No customer accounted for 10% or more of our consolidated net revenue in the fiscal 2021, 2020 and 2019. Identifiable assets are those used in continuing operations except cash and cash equivalents, which we include as corporate assets. Long-lived assets are net property, plant and equipment. The following table presents a summary of our business segment net sales:
(In millions) | 2021 |  | 2020 |  | 2019
CooperVision net sales by category: |  |  |  |  |
Toric lens | $ | 697.5 |  |  | $ | 598.2 |  |  | $ | 620.0 |
Multifocal lens | 238.6 |  |  | 197.0 |  |  | 202.9 |
Single-use sphere lens | 616.3 |  |  | 529.0 |  |  | 568.2 |
Non single-use sphere, other | 599.6 |  |  | 518.8 |  |  | 581.8 |
Total CooperVision net sales | 2,152.0 |  |  | 1,843.0 |  |  | 1,972.9 |
CooperSurgical net sales by category: |  |  |  |  |
Office and surgical products | 451.3 |  |  | 358.8 |  |  | 422.4 |
Fertility | 319.2 |  |  | 229.1 |  |  | 258.1 |
Total CooperSurgical net sales | 770.5 |  |  | 587.9 |  |  | 680.5 |
Total net sales | $ | 2,922.5 |  |  | $ | 2,430.9 |  |  | $ | 2,653.4 |
Information by business segment for each of the years in the three-year period ended October 31, 2021, follows:
(In millions) | CooperVision |  | CooperSurgical |  | Corporate |  | Consolidated
2021 |  |  |  |  |  |  |
Net sales | $ | 2,152.0 |  |  | $ | 770.5 |  |  | $ | — |  |  | $ | 2,922.5 |
Operating income (loss) | $ | 481.3 |  |  | $ | 71.8 |  |  | $ | (47.3) |  |  | $ | 505.8 |
Interest expense |  |  |  |  |  |  | 23.1 |
Other (income), net |  |  |  |  |  |  | (8.8) |
Income before income taxes |  |  |  |  |  |  | $ | 491.5 |
Identifiable assets | $ | 6,965.9 |  |  | $ | 2,395.6 |  |  | $ | 244.7 |  |  | $ | 9,606.2 |
Depreciation expense | $ | 148.3 |  |  | $ | 14.9 |  |  | $ | — |  |  | $ | 163.2 |
Amortization expense | $ | 35.7 |  |  | $ | 110.4 |  |  | $ | — |  |  | $ | 146.1 |
Capital expenditures | $ | 190.0 |  |  | $ | 24.4 |  |  | $ | — |  |  | $ | 214.4 |
2020 |  |  |  |  |  |  |
Net sales | $ | 1,843.0 |  |  | $ | 587.9 |  |  | $ | — |  |  | $ | 2,430.9 |
Operating income (loss) | $ | 375.7 |  |  | $ | (14.7) |  |  | $ | (49.2) |  |  | $ | 311.8 |
Interest expense |  |  |  |  |  |  | 36.8 |
Other expense, net |  |  |  |  |  |  | 8.5 |
Income before income taxes |  |  |  |  |  |  | $ | 266.5 |
Identifiable assets | $ | 4,236.3 |  |  | $ | 2,293.8 |  |  | $ | 207.4 |  |  | $ | 6,737.5 |
Depreciation expense | $ | 138.2 |  |  | $ | 11.7 |  |  | $ | — |  |  | $ | 149.9 |
Amortization expense | $ | 32.4 |  |  | $ | 104.8 |  |  | $ | — |  |  | $ | 137.2 |
Capital expenditures | $ | 260.3 |  |  | $ | 50.1 |  |  | $ | — |  |  | $ | 310.4 |
2019 |  |  |  |  |  |  |
Net sales | $ | 1,972.9 |  |  | $ | 680.5 |  |  | $ | — |  |  | $ | 2,653.4 |
Operating income (loss) | $ | 506.4 |  |  | $ | 87.9 |  |  | $ | (47.6) |  |  | $ | 546.7 |
Interest expense |  |  |  |  |  |  | 68.0 |
Other expense, net |  |  |  |  |  |  | 1.3 |
Income before income taxes |  |  |  |  |  |  | $ | 477.4 |
Identifiable assets | $ | 3,911.6 |  |  | $ | 2,189.8 |  |  | $ | 173.1 |  |  | $ | 6,274.5 |
Depreciation expense | $ | 125.8 |  |  | $ | 9.0 |  |  | $ | 0.2 |  |  | $ | 135.0 |
Amortization expense | $ | 40.9 |  |  | $ | 104.9 |  |  | $ | — |  |  | $ | 145.8 |
Capital expenditures | $ | 259.0 |  |  | $ | 33.1 |  |  | $ | — |  |  | $ | 292.1 |
Information by geographical area by country of domicile for each of the years in the three-year period ended October 31, 2021, follows:
(In millions) | United States |  | Europe |  | Rest of World, Other Eliminations & Corporate |  | Consolidated
2021 |  |  |  |  |  |  |
Net sales to unaffiliated customers | $ | 1,339.2 |  |  | $ | 957.9 |  |  | $ | 625.4 |  |  | $ | 2,922.5 |
Sales between geographic areas | 494.9 |  |  | 815.1 |  |  | (1,310.0) |  |  | — |
Net sales | $ | 1,834.1 |  |  | $ | 1,773.0 |  |  | $ | (684.6) |  |  | $ | 2,922.5 |
Operating (loss) income | $ | (26.8) |  |  | $ | 416.2 |  |  | $ | 116.4 |  |  | $ | 505.8 |
Long-lived assets | $ | 737.5 |  |  | $ | 377.2 |  |  | $ | 232.9 |  |  | $ | 1,347.6 |
2020 |  |  |  |  |  |  |
Net sales to unaffiliated customers | $ | 1,103.6 |  |  | $ | 789.8 |  |  | $ | 537.5 |  |  | $ | 2,430.9 |
Sales between geographic areas | 391.7 |  |  | 327.1 |  |  | (718.8) |  |  | — |
Net sales | $ | 1,495.3 |  |  | $ | 1,116.9 |  |  | $ | (181.3) |  |  | $ | 2,430.9 |
Operating (loss) income | $ | (14.5) |  |  | $ | 21.9 |  |  | $ | 304.4 |  |  | $ | 311.8 |
Long-lived assets | $ | 721.3 |  |  | $ | 363.0 |  |  | $ | 197.6 |  |  | $ | 1,281.9 |
2019 |  |  |  |  |  |  |
Net sales to unaffiliated customers | $ | 1,211.8 |  |  | $ | 854.8 |  |  | $ | 586.8 |  |  | $ | 2,653.4 |
Sales between geographic areas | 650.7 |  |  | 300.8 |  |  | (951.5) |  |  | — |
Net sales | $ | 1,862.5 |  |  | $ | 1,155.6 |  |  | $ | (364.7) |  |  | $ | 2,653.4 |
Operating income | $ | 83.2 |  |  | $ | 29.3 |  |  | $ | 434.2 |  |  | $ | 546.7 |
Long-lived assets | $ | 626.5 |  |  | $ | 358.8 |  |  | $ | 146.8 |  |  | $ | 1,132.1 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration