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Segment Reporting and Foreign Operations | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting and Foreign Operations | 13.SEGMENT REPORTING AND FOREIGN OPERATIONS We report our operations in two operating segments: cardiovascular and endoscopy. Our cardiovascular segment consists of four product categories: peripheral intervention, cardiac intervention, custom procedural solutions, and OEM. Within these product categories, we sell a variety of products, including cardiology and radiology devices (which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases), as well as embolotherapeutic, cardiac rhythm management, electrophysiology, critical care, breast cancer localization and guidance, biopsy, and interventional oncology and spine devices. Our endoscopy segment consists of gastroenterology and pulmonology devices which assist in the palliative treatment of expanding esophageal, tracheobronchial and biliary strictures caused by malignant tumors. Our chief operating decision maker is our Chief Executive Officer. Our CODM uses segment profit or loss to assess performance and allocate resources to each segment, primarily through periodic budgeting and segment performance reviews. See Note 2, Revenues to our consolidated financial statements set forth in Item 8 of this report for a detailed breakout of our sales by operating segment and product category, disaggregated between domestic and international sales. Total assets by segment are not used by the CODM to assess performance or allocate resources to the Company’s segments; therefore, total assets by segment are not disclosed. During the years ended December 31, 2024, 2023 and 2022, we had international sales of $555.7 million, $530.4 million and $500.4 million, respectively, or 41.0%, 42.2% and 43.5%, respectively, of net sales. Our largest international markets include China, Japan, Germany, France and the United Kingdom, with China representing our most significant international sales market with sales of $149.8 million, $147.3 million, and $149.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. International sales are attributed based on location of the customer receiving the product. Our long-lived assets (which are comprised of our net property and equipment) by geographic area at December 31, 2024, 2023 and 2022, consisted of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
United States | ​ | $ | 271,734 | ​ | $ | 273,105 | ​ | $ | 281,290
Ireland | ​ |  | 45,325 | ​ |  | 42,333 | ​ |  | 40,749
Other foreign countries | ​ |  | 69,106 | ​ |  | 68,085 | ​ |  | 60,937
Total | ​ | $ | 386,165 | ​ | $ | 383,523 | ​ | $ | 382,976
​ Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the years ended December 31, 2024, 2023 and 2022, are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended | ​ | Year Ended | ​ | Year Ended
​ | ​ | December 31, 2024 | ​ | December 31, 2023 | ​ | December 31, 2022
​ |  | Cardiovascular |  | Endoscopy |  | Consolidated |  | Cardiovascular |  | Endoscopy |  | Consolidated |  | Cardiovascular |  | Endoscopy |  | Consolidated
Net sales |  | $ | 1,301,744 |  | $ | 54,770 |  | $ | 1,356,514 |  | $ | 1,220,560 | ​ | $ | 36,806 |  | $ | 1,257,366 |  | $ | 1,118,224 |  | $ | 32,757 |  | $ | 1,150,981
Cost of sales standard(1) | ​ | ​ | 549,657 | ​ | ​ | 15,746 | ​ | ​ | ​ | ​ | ​ | 534,826 | ​ | ​ | 12,987 | ​ | ​ | ​ | ​ | ​ | 496,678 | ​ | ​ | 12,739 | ​ | ​ | ​
Cost of sales other(2) | ​ |  | 140,948 | ​ |  | 6,830 | ​ |  | ​ | ​ |  | 125,388 | ​ |  | 293 | ​ |  | ​ | ​ |  | 121,045 | ​ |  | 1,420 | ​ |  | ​
Selling, general and administrative expenses | ​ |  | 376,734 | ​ |  | 22,997 | ​ |  | ​ | ​ |  | 362,082 | ​ |  | 11,594 | ​ |  | ​ | ​ |  | 332,012 | ​ |  | 10,513 | ​ |  | ​
Research and development expenses | ​ | ​ | 83,812 | ​ | ​ | 3,654 | ​ | ​ | ​ | ​ | ​ | 80,300 | ​ | ​ | 2,428 | ​ | ​ | ​ | ​ | ​ | 74,042 | ​ | ​ | 1,468 | ​ | ​ | ​
Other operating expenses(3) | ​ | ​ | 443 | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 3,524 | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 13,501 | ​ | ​ | — | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from operations | ​ | $ | 150,150 | ​ | $ | 5,543 | ​ | $ | 155,693 | ​ | $ | 114,440 | ​ | $ | 9,504 | ​ | $ | 123,944 | ​ | $ | 80,946 | ​ | $ | 6,617 | ​ | $ | 87,563
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total other expense — net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,700) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (11,855) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (4,934)
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Income before income taxes | ​ |  | ​ | ​ | ​ | ​ | ​ | $ | 149,993 | ​ |  | ​ | ​ | ​ | ​ | ​ | $ | 112,089 | ​ |  | ​ | ​ | ​ | ​ | ​ | $ | 82,629
​
(1) | Cost of sales standard represents costs of goods sold measured at the internal standard cost for production of inventory. Inventory standard costs include material, labor and manufacturing overhead.
(2) | Cost of sales other for all segments include amortization expense associated with our developed technology and license agreement intangible assets, freight and handling associated with shipments to customers, provisions based on estimated excess, slow moving and obsolete inventories, manufacturing and price variances, and royalties.
(3) | Other operating expenses include impairment charges, contingent consideration (benefit expense) related to the changes in fair value of contingent payments associated with acquisitions, acquired in-process research and development expense, and certain legal settlements.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Cardiovascular | ​ | $ | 97,749 | ​ | $ | 88,960 | ​ | $ | 80,777
Endoscopy | ​ |  | 4,960 | ​ |  | 1,025 | ​ |  | 1,027
Total | ​ | $ | 102,709 | ​ | $ | 89,985 | ​ | $ | 81,804
Total depreciation and amortization by operating segment for the years ended December 31, 2024, 2023 and 2022, consisted of the following (in thousands): ​ ​

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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