XML 38 R20.htm IDEA: XBRL DOCUMENT v3.26.1
SEGMENTS AND DISAGGREGATED REVENUE
 3 Months Ended
Apr. 03, 2026
Revenue from Contract with Customer [Abstract]  
SEGMENTS AND DISAGGREGATED REVENUE SEGMENTS AND DISAGGREGATED REVENUE
The Company operates as one operating segment. The Company's chief operating decision maker ("CODM") is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated income from continuing operations to make key operating decisions, including resource allocations and performance assessments. Refer to the Condensed Consolidated Statement of Operations and Comprehensive Income for financial results of the Company’s operating segment.
The following table presents Property, Plant and Equipment (“PP&E”) by geographic area. In these tables, PP&E is aggregated based on the physical location of the tangible long-lived assets (in thousands):
April 3,
2026		December 31,
2025
Long-lived tangible assets by geographic area:
United States$296,830 $297,441 
Ireland155,951 160,511 
Mexico47,232 45,922 
Rest of world33,131 32,553 
Total$533,144 $536,427 
The following table presents sales by product line (in thousands):
 Three Months Ended
April 3,
2026		March 28,
2025
Cardio & Vascular$261,733 $258,871 
Cardiac Rhythm Management & Neuromodulation
168,264 160,345 
Other Markets9,583 18,176 
Total sales$439,580 $437,392 
Revenue recognized from products and services transferred to customers over time represented 38% and 33% of total revenue for the three months ended April 3, 2026 and March 28, 2025, respectively.
The following tables present revenues by significant customers, which are defined as any customer who individually represents 10% or more of total revenues.
Three Months Ended
April 3,
2026		March 28,
2025
Customer A19%14%
Customer B18%15%
Customer C15%21%
All other customers48%50%
The following tables present revenues by significant ship to location, which is defined as any country where 10% or more of total revenues are shipped.
Three Months Ended
April 3,
2026		March 28,
2025
United States53%52%
Costa Rica13%*
All other countries34%48%
(14.)    SEGMENTS AND DISAGGREGATED REVENUE (Continued)
Contract Balances
The opening and closing balances of the Company’s contract assets and contract liabilities are as follows (in thousands):
April 3,
2026		December 31,
2025
Contract assets$115,727 $112,546 
Contract liabilities (included in Accrued expenses and other current liabilities)5,383 5,213 
Contract liabilities (included in Other long-term liabilities)3,032 3,265 
During the three months ended April 3, 2026, the Company recognized $1.1 million of revenue that was included in the contract liability balance as of December 31, 2025. During the three months ended March 28, 2025, the Company recognized $1.2 million of revenue that was included in the contract liability balance as of December 31, 2024.