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Geographic and Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Revenue from External Customers by Geographic Areas

The table below presents net sales by operating segment and geographic region (in thousands):

						Three Months Ended September 30,												Nine Months Ended September 30,
						2020						2019						2020						2019
Cardiopulmonary
United States						$	33,549					$	39,054					$	96,223					$	119,580
Europe						29,947						30,052						87,475						99,933
Rest of World						43,704						50,908						140,925						152,650
						107,200						120,014						324,623						372,163
Heart Valves
United States						3,129						4,626						8,990						13,660
Europe						7,945						9,572						22,822						30,757
Rest of World						10,062						14,679						32,001						43,484
						21,136						28,877						63,813						87,901
Advanced Circulatory Support
United States						12,331						6,313						28,075						22,290
Europe						162						186						835						497
Rest of World						49						36						136						310
						12,542						6,535						29,046						23,097
Cardiovascular
United States						49,009						49,993						133,288						155,530
Europe						38,054						39,810						111,132						131,187
Rest of World						53,815						65,623						173,062						196,444
						140,878						155,426						417,482						483,161
Neuromodulation
United States						79,854						88,433						197,345						245,870
Europe						10,475						10,425						27,474						34,080
Rest of World						8,079						13,685						20,458						31,511
						98,408						112,543						245,277						311,461
Other						797						641						1,927						1,958
Totals
United States						128,863						138,426						330,633						401,400
Europe (1)						48,529						50,235						138,606						165,267
Rest of World						62,691						79,949						195,447						229,913
Total (2)						$	240,083					$	268,610					$	664,686					$	796,580

(1)Europe sales include those countries in which we have a direct sales presence, whereas European countries in which we sell through distributors are included in Rest of World.

(2)No single customer represented over 10% of our consolidated net sales. No country’s net sales exceeded 10% of our consolidated sales except for the U.S.

Schedule of Segment Reporting Information, by Segment

The table below presents a reconciliation of segment income from continuing operations to consolidated (loss) income from continuing operations before tax (in thousands):

						Three Months Ended September 30,												Nine Months Ended September 30,
						2020						2019						2020						2019
Cardiovascular						$	(7,311)					$	36,180					$	(8,037)					$	47,289
Neuromodulation						21,154						30,010						82,294						52,260
Other						(10,921)						(21,869)						(58,407)						(75,845)
Total reportable segment income from continuing operations						2,922						44,321						15,850						23,704
Merger and integration expenses						1,094						6,716						6,616						14,345
Restructuring expenses						(349)						698						2,025						4,563
Amortization of intangibles						9,685						11,146						29,346						29,690
Operating (loss) income from continuing operations						(7,508)						25,761						(22,137)						(24,894)
Interest income						47						151						482						624
Interest expense						(14,673)						(4,774)						(25,237)						(10,490)
Foreign exchange and other gains (losses)						3,420						327						507						(795)
(Loss) income from continuing operations before tax						$	(18,714)					$	21,465					$	(46,385)					$	(35,555)

Assets by segment are as follows (in thousands):

						September 30, 2020						December 31, 2019
Cardiovascular						$	1,463,523					$	1,546,520
Neuromodulation						668,899						749,069
Other						389,326						116,208
Total assets						$	2,521,748					$	2,411,797

Capital expenditures by segment are as follows (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2020						2019						2020						2019
Cardiovascular			$	7,040					$	5,178					$	17,777					$	13,564
Neuromodulation			1,210						136						7,285						666
Other			967						691						3,174						2,571
Total			$	9,217					$	6,005					$	28,236					$	16,801

Schedule of Goodwill

The changes in the carrying amount of goodwill by segment for the nine months ended September 30, 2020 were as follows (in thousands):

						Neuromodulation						Cardiovascular						Total
December 31, 2019						$	398,754					$	517,040					$	915,794
Foreign currency adjustments						—						2,684						2,684
September 30, 2020						$	398,754					$	519,724					$	918,478

Long-lived Assets by Geographic Areas

Property, plant and equipment, net by geography are as follows (in thousands):

						September 30, 2020						December 31, 2019
United States						$	64,620					$	61,410
Europe						116,746						110,270
Rest of World						9,143						9,674
Total						$	190,509					$	181,354

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