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Segment information
9 Months Ended
Sep. 28, 2025
Segment Reporting [Abstract]  
Segment information Segment 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 (in our case, our President and Chief Executive Officer) 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 chief operating decision maker utilizes segment operating profit to evaluate operating expenses through a comparison of budget to actual results as well as an analysis of operating expenses as a percentage of revenue. We do not
evaluate our operating segments using discrete asset information.

We have three reportable segments: Americas, EMEA (Europe, the Middle East and Africa) and Asia (Asia Pacific). Our reportable segments primarily 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 Americas also includes our OEM product portfolio that designs, manufactures and supplies devices and instruments for other medical device manufacturers.

The following tables present our segment results for the three and nine months ended September 28, 2025 and September 29, 2024:
 Three Months Ended September 28, 2025
 AmericasEMEAAsiaSegment Total
Net revenues$555,900 $234,247 $122,874 $913,021 
Cost of goods sold
233,349 119,886 65,477 418,712 
Research and development expenses25,171 25,402 4,937 55,510 
Selling, general and administrative expenses121,374 61,379 31,919 214,672 
Segment operating profit (1)
$176,006 $27,580 $20,541 $224,127 
 Three Months Ended September 29, 2024
 AmericasEMEAAsiaSegment Total
Net revenues$515,888 $150,224 $98,263 $764,375 
Cost of goods sold
205,548 68,238 34,762 308,548 
Research and development expenses22,286 8,693 4,689 35,668 
Selling, general and administrative expenses114,078 38,623 25,089 177,790 
Segment operating profit (1)
$173,976 $34,670 $33,723 $242,369 
Nine Months Ended September 28, 2025
AmericasEMEAAsiaSegment Total
Net revenues$1,557,261 $551,633 $285,685 $2,394,579 
Cost of goods sold
635,856 263,184 129,952 1,028,992 
Research and development expenses67,609 43,536 14,268 125,413 
Selling, general and administrative expenses352,062 143,227 79,933 575,222 
Segment operating profit (1)
$501,734 $101,686 $61,532 $664,952 
Nine Months Ended September 29, 2024
AmericasEMEAAsiaSegment Total
Net revenues$1,525,503 $456,944 $269,468 $2,251,915 
Cost of goods sold
614,864 216,057 96,185 927,106 
Research and development expenses66,464 30,329 13,818 110,611 
Selling, general and administrative expenses347,595 116,449 73,880 537,924 
Segment operating profit (1)
$496,580 $94,109 $85,585 $676,274 
(1)Segment operating profit represents income from continuing operations before interest, loss on extinguishment of debt and taxes adjusted to exclude unallocated corporate expenses, manufacturing variances other than fixed manufacturing cost absorption variances, restructuring and impairment charges. See reconciliation of segment operating profit measures for further details.
Three Months EndedNine Months Ended
September 28, 2025September 29, 2024September 28, 2025September 29, 2024
Reconciliation of segment operating profit measure
Segment operating profit$224,127 $242,369 $664,952 $676,274 
Other unallocated expenses (1)
111,477 98,180 244,494 271,347 
Pension settlement (benefit) charge— (5,407)— 132,732 
Goodwill impairment charge
403,925 — 403,925 — 
Restructuring charges, separation costs and other impairment charges
117,623 285 144,550 10,799 
(Loss) income from continuing operations before interest and taxes
$(408,898)$149,311 $(128,017)$261,396 
(1) Other unallocated expenses include expenses within costs of goods sold, research and development and selling, general and administrative costs and primarily consist of manufacturing variances other than fixed manufacturing cost absorption variances and unallocated corporate function expenses.
 Three Months EndedNine Months Ended
Depreciation and amortization
September 28, 2025September 29, 2024September 28, 2025September 29, 2024
Americas$47,399 $47,700 $139,795 $143,393 
EMEA19,980 13,083 44,811 36,578 
Asia5,853 3,181 12,298 8,805 
Corporate (1)
4,693 4,672 14,064 14,033 
Consolidated depreciation and amortization$77,925 $68,636 $210,968 $202,809 
(1)Reflects depreciation and amortization included within other allocated expenses per reconciliation of segment operating profit measure.