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Business segments and other information (Tables) | 12 Months Ended
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Dec. 31, 2014
Segment Reporting [Abstract] |
Business segments and other information | The following tables present the Company’s segment results for the twelve months ended December 31, 2014, 2013 and 2012:
| Year Ended December 31:
| 2014 |  | 2013 |  | 2012
| (Dollars in thousands)
Revenue |  |  |  |  |
Vascular North America | $ | 259,227 |  |  | $ | 231,112 |  |  | $ | 222,749 |
Anesthesia/Respiratory North America | 222,650 |  |  | 228,485 |  |  | 180,363 |
Surgical North America | 150,121 |  |  | 146,058 |  |  | 143,875 |
EMEA | 593,065 |  |  | 557,427 |  |  | 510,248 |
Asia | 237,696 |  |  | 207,207 |  |  | 173,721 |
OEM | 143,966 |  |  | 131,173 |  |  | 140,230 |
All other | 233,107 |  |  | 194,809 |  |  | 179,823 |
Consolidated net revenues | $ | 1,839,832 |  |  | $ | 1,696,271 |  |  | $ | 1,551,009 |
| Year Ended December 31:
| 2014 |  | 2013 |  | 2012
| (Dollars in thousands)
Operating Profit |  |  |  |  |
Vascular North America | $ | 41,079 |  |  | $ | 23,798 |  |  | $ | 26,048 |
Anesthesia/Respiratory North America | 26,574 |  |  | 21,910 |  |  | 14,048 |
Surgical North America | 49,592 |  |  | 50,334 |  |  | 50,615 |
EMEA | 114,650 |  |  | 87,902 |  |  | 65,822 |
Asia | 62,152 |  |  | 63,822 |  |  | 52,541 |
OEM | 30,635 |  |  | 27,328 |  |  | 31,664 |
All other | 40,482 |  |  | 27,191 |  |  | 18,759 |
Total segment operating profit (1) | 365,164 |  |  | 302,285 |  |  | 259,497 |
Unallocated expenses (2) | (80,302 | ) |  | (69,024 | ) |  | (356,872 | )
Income from continuing operations before interest, loss on extinguishments of debt and taxes | $ | 284,862 |  |  | $ | 233,261 |  |  | $ | (97,375 | )
(1) | Segment operating profit includes segment net revenues from external customers reduced by its standard cost of goods sold, adjusted for certain manufacturing variances, selling, general and administrative expenses, research and development expenses and an allocation of corporate expenses. Corporate expenses are allocated among the segments in proportion to the respective amounts of one of several items (such as sales, numbers of employees, and amount of time spent), depending on the category of expense involved.
(2) | Unallocated expenses primarily include manufacturing variances and fixed manufacturing costs, with the exception of certain manufacturing variances allocated to the segments as noted above, as well as net gain on sales of assets, goodwill impairment and restructuring and other impairment charges.
| Year Ended December 31:
| 2014 |  | 2013 |  | 2012
| (Dollars in thousands)
Depreciation and Amortization |  |  |  |  |
Vascular North America | $ | 31,782 |  |  | $ | 28,719 |  |  | $ | 23,063 |
Anesthesia/Respiratory North America | 17,109 |  |  | 13,162 |  |  | 7,955 |
Surgical North America | 6,316 |  |  | 10,549 |  |  | 3,646 |
EMEA | 38,062 |  |  | 29,947 |  |  | 22,975 |
Asia | 8,515 |  |  | 4,960 |  |  | 3,653 |
OEM | 6,175 |  |  | 4,876 |  |  | 4,083 |
All other | 19,071 |  |  | 15,722 |  |  | 29,509 |
Consolidated depreciation and amortization | $ | 127,030 |  |  | $ | 107,935 |  |  | $ | 94,884 |
Business segments and other information An operating segment is a component of the Company (a) that engages in business activities from which it may earn revenues and incur expenses, (b) whose operating results are regularly reviewed by the Company’s chief operating decision maker to make decisions about resources to be allocated to the segment and to assess its performance, and (c) for which discrete financial information is available. The Company does not evaluate its operating segments using discrete asset information. Effective January 1, 2014, the Company realigned its operating segments due to changes in the Company’s internal financial reporting structure. The Company’s North American Vascular, Anesthesia/Respiratory and Surgical businesses, which previously comprised much of the former Americas reportable segment, are now separate reportable segments. As a result, the Company now has six reportable segments: Vascular North America, Anesthesia/Respiratory North America, Surgical North America, EMEA, Asia and OEM. Certain operating segments are not material and are therefore included in the “All other” line item in tabular presentations of segment information. Additionally, the Company changed the allocation methodology for certain corporate costs, including manufacturing variances and research and development costs, among its businesses to improve accountability, which resulted in changes to the previously reported segment operating profit. All prior comparative periods have been restated to reflect these changes. The Company’s reportable segments other than the OEM segment design, manufacture and distribute medical devices primarily used in critical care, surgical applications and cardiac care and generally serve two end markets: hospitals and healthcare providers, and home health. The products of these segments are most widely used in the acute care setting for a range of diagnostic and therapeutic procedures and in general and specialty surgical applications. The Company’s OEM segment designs, manufactures and supplies devices and instruments for other medical device manufacturers. The following tables present the Company’s segment results for the twelve months ended December 31, 2014, 2013 and 2012:
| Year Ended December 31:
| 2014 |  | 2013 |  | 2012
| (Dollars in thousands)
Revenue |  |  |  |  |
Vascular North America | $ | 259,227 |  |  | $ | 231,112 |  |  | $ | 222,749 |
Anesthesia/Respiratory North America | 222,650 |  |  | 228,485 |  |  | 180,363 |
Surgical North America | 150,121 |  |  | 146,058 |  |  | 143,875 |
EMEA | 593,065 |  |  | 557,427 |  |  | 510,248 |
Asia | 237,696 |  |  | 207,207 |  |  | 173,721 |
OEM | 143,966 |  |  | 131,173 |  |  | 140,230 |
All other | 233,107 |  |  | 194,809 |  |  | 179,823 |
Consolidated net revenues | $ | 1,839,832 |  |  | $ | 1,696,271 |  |  | $ | 1,551,009 |
| Year Ended December 31:
| 2014 |  | 2013 |  | 2012
| (Dollars in thousands)
Operating Profit |  |  |  |  |
Vascular North America | $ | 41,079 |  |  | $ | 23,798 |  |  | $ | 26,048 |
Anesthesia/Respiratory North America | 26,574 |  |  | 21,910 |  |  | 14,048 |
Surgical North America | 49,592 |  |  | 50,334 |  |  | 50,615 |
EMEA | 114,650 |  |  | 87,902 |  |  | 65,822 |
Asia | 62,152 |  |  | 63,822 |  |  | 52,541 |
OEM | 30,635 |  |  | 27,328 |  |  | 31,664 |
All other | 40,482 |  |  | 27,191 |  |  | 18,759 |
Total segment operating profit (1) | 365,164 |  |  | 302,285 |  |  | 259,497 |
Unallocated expenses (2) | (80,302 | ) |  | (69,024 | ) |  | (356,872 | )
Income from continuing operations before interest, loss on extinguishments of debt and taxes | $ | 284,862 |  |  | $ | 233,261 |  |  | $ | (97,375 | )
(1) | Segment operating profit includes segment net revenues from external customers reduced by its standard cost of goods sold, adjusted for certain manufacturing variances, selling, general and administrative expenses, research and development expenses and an allocation of corporate expenses. Corporate expenses are allocated among the segments in proportion to the respective amounts of one of several items (such as sales, numbers of employees, and amount of time spent), depending on the category of expense involved.
(2) | Unallocated expenses primarily include manufacturing variances and fixed manufacturing costs, with the exception of certain manufacturing variances allocated to the segments as noted above, as well as net gain on sales of assets, goodwill impairment and restructuring and other impairment charges.
| Year Ended December 31:
| 2014 |  | 2013 |  | 2012
| (Dollars in thousands)
Depreciation and Amortization |  |  |  |  |
Vascular North America | $ | 31,782 |  |  | $ | 28,719 |  |  | $ | 23,063 |
Anesthesia/Respiratory North America | 17,109 |  |  | 13,162 |  |  | 7,955 |
Surgical North America | 6,316 |  |  | 10,549 |  |  | 3,646 |
EMEA | 38,062 |  |  | 29,947 |  |  | 22,975 |
Asia | 8,515 |  |  | 4,960 |  |  | 3,653 |
OEM | 6,175 |  |  | 4,876 |  |  | 4,083 |
All other | 19,071 |  |  | 15,722 |  |  | 29,509 |
Consolidated depreciation and amortization | $ | 127,030 |  |  | $ | 107,935 |  |  | $ | 94,884 |
The following table provides total net revenues and total net property, plant and equipment by geographic region for the years ended December 31, 2014, 2013 and 2012:
| Year Ended
| 2014 |  | 2013 |  | 2012
| (Dollars in thousands)
Net revenues (based on the Company's selling location): |  |  |  |  |
United States | $ | 916,619 |  |  | $ | 844,884 |  |  | $ | 789,771 |
Other Americas | 60,736 |  |  | 57,098 |  |  | 53,665 |
Europe | 664,982 |  |  | 568,559 |  |  | 516,982 |
All Other | 197,495 |  |  | 225,730 |  |  | 190,591 |
| $ | 1,839,832 |  |  | $ | 1,696,271 |  |  | $ | 1,551,009 |
Net property, plant and equipment: |  |  |  |  |
United States | $ | 174,893 |  |  | $ | 203,985 |  |  | $ | 180,833 |
Malaysia | 36,427 |  |  | 29,313 |  |  | 27,764 |
Czech Republic | 35,655 |  |  | 41,607 |  |  | 45,884 |
All Other | 70,460 |  |  | 50,995 |  |  | 43,464 |
| $ | 317,435 |  |  | $ | 325,900 |  |  | $ | 297,945 |
Total Net Revenues and Total Net Property, Plant and Equipment by Geographic Region | The following table provides total net revenues and total net property, plant and equipment by geographic region for the years ended December 31, 2014, 2013 and 2012:
| Year Ended
| 2014 |  | 2013 |  | 2012
| (Dollars in thousands)
Net revenues (based on the Company's selling location): |  |  |  |  |
United States | $ | 916,619 |  |  | $ | 844,884 |  |  | $ | 789,771 |
Other Americas | 60,736 |  |  | 57,098 |  |  | 53,665 |
Europe | 664,982 |  |  | 568,559 |  |  | 516,982 |
All Other | 197,495 |  |  | 225,730 |  |  | 190,591 |
| $ | 1,839,832 |  |  | $ | 1,696,271 |  |  | $ | 1,551,009 |
Net property, plant and equipment: |  |  |  |  |
United States | $ | 174,893 |  |  | $ | 203,985 |  |  | $ | 180,833 |
Malaysia | 36,427 |  |  | 29,313 |  |  | 27,764 |
Czech Republic | 35,655 |  |  | 41,607 |  |  | 45,884 |
All Other | 70,460 |  |  | 50,995 |  |  | 43,464 |
| $ | 317,435 |  |  | $ | 325,900 |  |  | $ | 297,945 |

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