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Segment and Enterprise Reporting
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment and Enterprise Reporting
25. Segment and Enterprise Reporting
The Company’s reportable segments are determined based upon the Company’s organizational structure and the way in which the Company’s Chief Operating Decision Maker (CODM), the CEO, makes operating decisions and assesses financial performance. The CODM considered several factors including, but not limited to, customer base, technology, and homogeneity of products. The two segments are:
•Healthcare - develops, manufactures, and markets a variety of noninvasive monitoring technologies and hospital automation solutions and therapeutics. This segment includes the Company’s core legacy hospital business and new Masimo-technology-enabled consumer products that are distributed through many channels including e-commerce sites, leading national retailers and specialty chains globally.
•Non-healthcare - designs, develops, manufactures, markets and sells a broad portfolio of premium, high-performance audio products and services.
Income from operations for each segment includes all geographic revenues, related cost of net revenues and operating expenses directly attributable to the segment. The Company uses gross profit, as presented in the Company’s financial reports, as the primary measure of segment profitability. The Company uses the same accounting policies to generate segment results as the Company does for consolidated results. Segment information presented herein reflects the impact of these changes for all periods presented. For each of the three and nine months ended September 30, 2023, intercompany revenues between the Healthcare and Non-healthcare segments were $5.0 million. For each of the three and nine months ended October 1, 2022, there were no intercompany revenues between the Healthcare and Non-healthcare segments. All inter-segment transactions and balances are eliminated in consolidation for all periods presented below.
Selected information by reportable segment is presented below for each of the three and nine months ended September 30, 2023 and October 1, 2022:
Three Months EndedNine Months Ended
(in millions)September 30,
2023		October 1,
2022		September 30,
2023		October 1,
2022
Revenues by segment:
Healthcare$307.8 $327.2 $935.6 $988.5 
Non-healthcare171.1 222.1 563.6 430.3 
Total revenue by segment$478.9 $549.3 $1,499.2 $1,418.8 
Gross profit:
Healthcare$185.6 $211.4 $569.4 $653.5 
Non-healthcare55.8 77.7 192.2 150.3 
Other(1)
(6.6)(6.6)(20.8)(58.4)
Gross profit$234.8 $282.5 $740.8 $745.4 
____________________________
(1)     Management excludes certain corporate expenses from segment gross profit. In addition, certain amounts that management considers to be non-recurring or non-operational are excluded from segment gross profit because management evaluates the operating results of the segments excluding such items.
The Company’s depreciation and amortization by segment are as follows:
Three Months EndedNine Months Ended
(in millions)September 30,
2023		October 1,
2022		September 30,
2023		October 1,
2022
Depreciation and amortization by segment:
Healthcare$9.8 $9.0 $28.1 $27.1 
Non-healthcare14.7 13.9 47.7 29.5 
Total depreciation and amortization$24.5 $22.9 $75.8 $56.6