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Business segments and other information | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Business segments and other information | Business segments and other information An operating segment is a component (a) that engages in business activities from which it may earn revenues and incur expenses, (b) whose operating results are regularly reviewed by the 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. We do not evaluate our operating segments using discrete asset information. We have four reportable segments: Americas, EMEA (Europe, the Middle East and Africa), Asia (Asia Pacific) and OEM (Original Equipment Manufacturer and Development Services). Our 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 OEM segment designs, manufactures and supplies devices and instruments for other medical device manufacturers. The following tables present our segment results for the years ended December 31, 2023, 2022 and 2021:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Americas | $ | 1,715,331 |  |  | $ | 1,653,724 |  |  | $ | 1,659,309 |
EMEA | 586,245 |  |  | 558,373 |  |  | 606,807 |
Asia | 346,905 |  |  | 306,320 |  |  | 297,766 |
OEM | 326,008 |  |  | 272,624 |  |  | 245,681 |
Net revenues | $ | 2,974,489 |  |  | $ | 2,791,041 |  |  | $ | 2,809,563 |
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Americas | $ | 453,062 |  |  | $ | 452,030 |  |  | $ | 424,225 |
EMEA | 52,190 |  |  | 42,465 |  |  | 94,865 |
Asia | 90,095 |  |  | 82,786 |  |  | 84,648 |
OEM | 86,206 |  |  | 65,379 |  |  | 56,210 |
Total segment operating profit (1) | 681,553 |  |  | 642,660 |  |  | 659,948 |
Unallocated expenses (2) | (175,240) |  |  | (142,935) |  |  | (31,853) |
Income from continuing operations before interest, loss on extinguishment of debt and taxes | $ | 506,313 |  |  | $ | 499,725 |  |  | $ | 628,095 |
(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. Commencing on January 1, 2022, all corporate expenses are allocated amongst the segments in proportion to the respective amounts of net revenues. The change in the measure of segment operating profit does not impact period over period comparability because the change was immaterial. For the year ended December 31, 2021, corporate expenses were 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 other than fixed manufacturing cost absorption variances, restructuring and impairment charges, gain on sale of business and settlement charges related to our plan to terminate the TRIP, as described in Note 16.
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Americas | $ | 169,059 |  |  | $ | 162,898 |  |  | $ | 164,102 |
EMEA | 43,669 |  |  | 39,957 |  |  | 45,022 |
Asia | 11,328 |  |  | 10,107 |  |  | 11,140 |
OEM | 18,062 |  |  | 17,628 |  |  | 17,098 |
Consolidated depreciation and amortization | $ | 242,118 |  |  | $ | 230,590 |  |  | $ | 237,362 |
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, 2023, 2022 and 2021 and as of December 31, 2023 and 2022, respectively.
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Net revenues (based on selling location): |  |  |  |  |
U.S. | $ | 1,879,898 |  |  | $ | 1,786,467 |  |  | $ | 1,769,488 |
Europe | 665,185 |  |  | 622,343 |  |  | 665,000 |
Asia Pacific | 307,513 |  |  | 270,749 |  |  | 263,022 |
All other | 121,893 |  |  | 111,482 |  |  | 112,053 |
| $ | 2,974,489 |  |  | $ | 2,791,041 |  |  | $ | 2,809,563 |
|  |  | As of December 31,
Net property, plant and equipment: |  |  | 2023 |  | 2022
U.S. |  |  | $ | 200,969 |  |  | $ | 193,618 |
Malaysia |  |  | 71,947 |  |  | 73,441 |
Mexico |  |  | 112,339 |  |  | 82,334 |
All other |  |  | 94,658 |  |  | 97,812 |
|  |  | $ | 479,913 |  |  | $ | 447,205 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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