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Business segments and other information | 12 Months Ended
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Dec. 31, 2018
Segment Reporting [Abstract] |
Business segments and other information | 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. The Company has seven reportable segments: Vascular North America, Interventional North America, Anesthesia North America, Surgical North America, Europe, Middle East and Africa ("EMEA"), Asia and Original Equipment and Development Services ("OEM"). In connection with the presentation of segment information, the Company presents certain operating segments, including the Interventional Urology North America, Respiratory North America and Latin America operating segments, in the “all other” category because separate information with regard to each of these operating segments is not material. The Company’s reportable segments, other than the OEM segment, design, manufacture and distribute medical devices primarily used in critical care and surgical applications 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 years ended December 31, 2018, 2017 and 2016:
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
| (Dollars in thousands)
Vascular North America | $ | 329,473 |  |  | $ | 313,618 |  |  | $ | 295,206 |
Interventional North America | 261,645 |  |  | 220,611 |  |  | 82,431 |
Anesthesia North America | 205,064 |  |  | 197,982 |  |  | 198,772 |
Surgical North America | 166,267 |  |  | 175,216 |  |  | 172,223 |
EMEA | 603,813 |  |  | 552,722 |  |  | 510,934 |
Asia | 286,895 |  |  | 269,208 |  |  | 249,416 |
OEM | 205,976 |  |  | 182,967 |  |  | 160,990 |
All other | 389,250 |  |  | 233,979 |  |  | 198,055 |
Net revenues | $ | 2,448,383 |  |  | $ | 2,146,303 |  |  | $ | 1,868,027 |
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
| (Dollars in thousands)
Vascular North America | $ | 98,505 |  |  | $ | 77,036 |  |  | $ | 77,122 |
Interventional North America | 62,242 |  |  | 25,972 |  |  | 13,264 |
Anesthesia North America | 61,159 |  |  | 62,901 |  |  | 55,544 |
Surgical North America | 62,934 |  |  | 63,931 |  |  | 56,608 |
EMEA | 106,090 |  |  | 92,430 |  |  | 84,392 |
Asia | 78,135 |  |  | 75,637 |  |  | 75,770 |
OEM | 50,294 |  |  | 41,578 |  |  | 33,641 |
All other | (29,042 | ) |  | 11,142 |  |  | 26,486 |
Total segment operating profit (1) | 490,317 |  |  | 450,627 |  |  | 422,827 |
Unallocated expenses (2) | (168,613 | ) |  | (78,348 | ) |  | (103,374 | )
Income from continuing operations before interest, loss on extinguishment of debt and taxes | $ | 321,704 |  |  | $ | 372,279 |  |  | $ | 319,453 |
(1) | Segment operating profit includes segment net revenues from external customers reduced by its standard cost of goods sold, adjusted for fixed manufacturing cost absorption 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, with the exception of fixed manufacturing cost absorption variances, restructuring and impairment charges and gain on sale of assets.
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
| (Dollars in thousands)
Vascular North America | $ | 27,535 |  |  | $ | 31,058 |  |  | $ | 35,117 |
Interventional North America | 34,127 |  |  | 29,108 |  |  | 6,993 |
Anesthesia North America | 10,162 |  |  | 8,573 |  |  | 10,932 |
Surgical North America | 8,321 |  |  | 8,694 |  |  | 10,459 |
EMEA | 47,171 |  |  | 34,322 |  |  | 30,505 |
Asia | 12,917 |  |  | 11,868 |  |  | 11,275 |
OEM | 8,610 |  |  | 8,337 |  |  | 8,404 |
All other | 65,871 |  |  | 28,378 |  |  | 14,661 |
Consolidated depreciation and amortization | $ | 214,714 |  |  | $ | 160,338 |  |  | $ | 128,346 |
During the first quarter 2019, the Company changed its segment presentation as a result of a change in the manner in which the chief operating decision maker (the Chief Executive Officer) reviews financial information for purposes of assessing business performance and allocating resources. The Company now has four segments: Americas, EMEA, Asia and OEM. See Note 20 for additional information. Geographic data The following tables provide total net revenues and total net property, plant and equipment by geographic region for the years ended December 31, 2018, 2017 and 2016:
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
| (Dollars in thousands)
Net revenues (based on the Company's selling location): |  |  |  |  |
United States | $ | 1,449,426 |  |  | $ | 1,254,825 |  |  | $ | 1,018,786 |
Europe | 671,264 |  |  | 591,370 |  |  | 567,320 |
Asia and Asia Pacific | 234,090 |  |  | 220,110 |  |  | 208,841 |
All other | 93,603 |  |  | 79,998 |  |  | 73,080 |
| $ | 2,448,383 |  |  | $ | 2,146,303 |  |  | $ | 1,868,027 |
Net property, plant and equipment: |  |  |  |  |
United States | $ | 258,415 |  |  | $ | 216,568 |  |  | $ | 167,167 |
Malaysia | 51,952 |  |  | 43,730 |  |  | 31,415 |
Ireland | 41,223 |  |  | 43,867 |  |  | 36,569 |
Czech Republic | 34,833 |  |  | 35,715 |  |  | 30,843 |
All other | 46,343 |  |  | 43,119 |  |  | 36,905 |
| $ | 432,766 |  |  | $ | 382,999 |  |  | $ | 302,899 |

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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 + Details
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