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SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

We manage our business based on three geographical segments: Americas (North and South America), EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific). Our segments provide a broad portfolio of essential healthcare products, including acute and chronic dialysis therapies; sterile IV solutions; infusion systems and devices; parenteral nutrition therapies; inhaled anesthetics; generic injectable pharmaceuticals; and surgical hemostat and sealant products.

We use operating income on a segment basis to make resource allocation decisions and assess the ongoing performance of our business segments. Intersegment sales are eliminated in consolidation.

Certain items are maintained at Corporate and are not allocated to a segment. They primarily include the majority of foreign currency hedging activities, corporate headquarters costs, certain R&D costs, certain GBU support costs, stock compensation expense, certain employee benefit plan costs, and certain gains, losses, and other charges (such as business optimization, acquisition and integration costs, intangible asset amortization and asset impairments). Our chief operating decision maker does not receive any asset information by operating segment and, accordingly, we do not report asset information by operating segment.

Financial information for our segments is as follows.

			Three months ended June 30,												Six months ended June 30,
						As Restated									As Restated
(in millions)			2020			2019						2020			2019
Net sales:
Americas			$	1,407		$	1,519					$	2,906		$	2,928
EMEA			731			742						1,485			1,449
APAC			580			573						1,129			1,095
Total net sales			$	2,718		$	2,834					$	5,520		$	5,472
Operating income:
Americas			$	489		$	582					$	1,033		$	1,120
EMEA			159			159						320			303
APAC			143			136						271			256
Total segment operating income			$	791		$	877					$	1,624		$	1,679

The following is a reconciliation of segment operating income to income before income taxes per the condensed consolidated statements of income.

			Three months ended June 30,												Six months ended June 30,
						As Restated									As Restated
(in millions)			2020			2019						2020			2019
Total segment operating income			$	791		$	877					$	1,624		$	1,679
Corporate and other			(460)			(527)						(884)			(946)
Total operating income			331			350						740			733
Net interest expense			36			20						57			38
Other (income) expense, net			6			4						16			(17)
Income before income taxes			$	289		$	326					$	667		$	712

Refer to Note 10 for additional information on Net Sales by GBU.

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- References

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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

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