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Geographic and Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | We operate under three geographic regions: U.S., Europe, and Rest of World. The table below presents net sales by operating segment and geographic region (in thousands):
|  | Year Ended December 31,
|  | 2021 |  | 2020 |  | 2019
Cardiopulmonary |  |  |  |  |  |
United States |  | $ | 154,073 |  |  | $ | 132,543 |  |  | $ | 161,471 |
Europe |  | 134,562 |  |  | 122,062 |  |  | 135,632 |
Rest of World |  | 194,344 |  |  | 192,127 |  |  | 207,613 |
|  | 482,979 |  |  | 446,732 |  |  | 504,716 |
Neuromodulation |  |  |  |  |  |
United States |  | 358,476 |  |  | 282,509 |  |  | 335,332 |
Europe |  | 51,435 |  |  | 39,019 |  |  | 46,262 |
Rest of World |  | 46,261 |  |  | 32,916 |  |  | 42,953 |
|  | 456,172 |  |  | 354,444 |  |  | 424,547 |
Advanced Circulatory Support |  |  |  |  |  |
United States |  | 53,821 |  |  | 41,094 |  |  | 30,781 |
Europe |  | 1,120 |  |  | 1,027 |  |  | 741 |
Rest of World |  | 518 |  |  | 200 |  |  | 401 |
|  | 55,459 |  |  | 42,321 |  |  | 31,923 |
Other (1) |  |  |  |  |  |
United States |  | 4,929 |  |  | 12,488 |  |  | 18,900 |
Europe |  | 14,407 |  |  | 31,259 |  |  | 40,548 |
Rest of World |  | 21,419 |  |  | 46,997 |  |  | 63,536 |
|  | 40,755 |  |  | 90,744 |  |  | 122,984 |
Totals |  |  |  |  |  |
United States |  | 571,299 |  |  | 468,634 |  |  | 546,484 |
Europe (2) |  | 201,525 |  |  | 193,367 |  |  | 223,183 |
Rest of World |  | 262,541 |  |  | 272,240 |  |  | 314,503 |
Total (3) (4) |  | $ | 1,035,365 |  |  | $ | 934,241 |  |  | $ | 1,084,170 |
(1)Other primarily includes the net sales of the Company’s Heart Valves business, which was disposed of on June 1, 2021. (2)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. (3)Net sales to external customers includes $35.8 million, $29.7 million and $37.7 million in the United Kingdom, our country of domicile, for the years ended December 31, 2021, 2020 and 2019, respectively. (4)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. The table below presents a reconciliation of segment income (loss) from continuing operations to consolidated loss from continuing operations before tax (in thousands):
|  | Year Ended December 31,
|  | 2021 |  | 2020 (1) |  | 2019 (1)
Cardiopulmonary (2) |  | $ | (6,429) |  |  | $ | 35,735 |  |  | $ | 50,533 |
Neuromodulation (3) |  | 169,499 |  |  | 109,273 |  |  | 83,333 |
Advanced Circulatory Support |  | 2,195 |  |  | (575) |  |  | 3,941 |
Other (4) (5) |  | (129,082) |  |  | (365,116) |  |  | (233,275) |
Total reportable segment income (loss) from continuing operations |  | 36,183 |  |  | (220,683) |  |  | (95,468) |
Other expenses (6) |  | 36,967 |  |  | 53,216 |  |  | 76,086 |
Operating loss from continuing operations |  | (784) |  |  | (273,899) |  |  | (171,554) |
Interest income |  | 435 |  |  | 131 |  |  | 803 |
Interest expense |  | (50,151) |  |  | (40,837) |  |  | (15,091) |
Loss on debt extinguishment |  | (60,238) |  |  | (1,407) |  |  | — |
Foreign exchange and other gains/(losses) |  | (13,734) |  |  | (32,010) |  |  | (2,536) |
Loss from continuing operations before tax |  | $ | (124,472) |  |  | $ | (348,022) |  |  | $ | (188,378) |
(1)Segment loss from continuing operations for the years ended December 31, 2020 and 2019 have been revised. For further details refer to “Note 1. Nature of Operations.” (2)Results for the years ended December 31, 2021, 2020 and 2019 include a Litigation provision, net of $38.1 million, $3.9 million and $(0.6) million, respectively. Refer to “Note 13. Commitments and Contingencies” for additional information. (3)Results for the year ended December 31, 2019 include the ImThera impairment of the IPR&D asset of $50.3 million. Refer to “Note 7. Goodwill and Intangible Assets” for additional information. (4)Results for the year ended December 31, 2020 include $180.2 million and $21.3 million in impairments of the Heart Valves disposal group and allocated goodwill, respectively. Refer to “Note 4. Divestiture of Heart Valve Business” for additional information. Additionally, the results for the year ended December 31, 2020 include a $42.2 million decommissioning provision at our Saluggia site. Refer to “Note 13. Commitments and Contingencies” for additional information. Results for the year ended December 31, 2019 include the Caisson impairments of goodwill and the IPR&D asset of $42.4 million and $89.0 million, respectively. Refer to “Note 7. Goodwill and Intangible Assets” for additional information. (5)Other includes the results of the Company’s Heart Valves business, which was disposed of on June 1, 2021, and corporate shared service expenses for finance, legal, human resources, information technology and corporate business development. (6)Other expenses consists of merger and integration expense, restructuring expense and amortization of intangible assets. Assets by reportable segment as of December 31, 2021 and 2020, was as follows (in thousands):
Total Assets |  | 2021 |  | 2020 (1)
Cardiopulmonary |  | $ | 921,481 |  |  | $ | 1,040,318 |
Neuromodulation |  | 646,394 |  |  | 673,579 |
Advanced Circulatory Support |  | 231,846 |  |  | 239,404 |
Other (2) |  | 401,230 |  |  | 446,660 |
|  | $ | 2,200,951 |  |  | $ | 2,399,961 |
(1)Total assets as of December 31, 2020 have been revised. For further details refer to “Note 1. Nature of Operations.” (2)Other includes corporate assets as of December 31, 2021 and 2020, and the assets of the Company’s Heart Valves business, which was disposed of on June 1, 2021 as of December 31, 2020. Capital expenditures by segment were as follows (in thousands):
|  | Year Ended December 31,
Capital Expenditures |  | 2021 |  | 2020 |  | 2019
Cardiopulmonary |  | $ | 14,824 |  |  | $ | 20,975 |  |  | $ | 16,302 |
Neuromodulation |  | 179 |  |  | 7,318 |  |  | 3,415 |
Advanced Circulatory Support |  | 1,326 |  |  | 733 |  |  | 540 |
Other (1) |  | 5,984 |  |  | 6,890 |  |  | 7,720 |
|  | $ | 22,313 |  |  | $ | 35,916 |  |  | $ | 27,977 |
(1)Other includes corporate capital expenditures as well as capital expenditures for the Company’s Heart Valves business, which was disposed of on June 1, 2021.
Long-lived Assets by Geographic Areas | Property, plant and equipment, net by geographic region as of December 31, 2021 and 2020, was as follows (in thousands):
Property, Plant and Equipment, Net |  | 2021 |  | 2020
United States |  | $ | 60,852 |  |  | $ | 64,553 |
Europe |  | 85,313 |  |  | 93,821 |
Rest of World |  | 3,901 |  |  | 5,431 |
|  | $ | 150,066 |  |  | $ | 163,805 |

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- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph b -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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