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SEGMENT AND GEOGRAPHIC INFORMATION | 9 Months Ended
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Sep. 30, 2017
Segment Reporting [Abstract] |
SEGMENT AND GEOGRAPHIC INFORMATION | SEGMENT AND GEOGRAPHIC INFORMATION The Company internally manages two global reportable segments and reports the results of its businesses to its chief operating decision maker. The two reportable segments and their activities are described below.
• | The Specialty Surgical Solutions segment includes (i) the Neurosurgery business, which sells a full line of products for neurosurgery and neuro critical care such as tissue ablation equipment, dural repair products, cerebral spinal fluid management devices, intracranial monitoring equipment, and cranial stabilization equipment and (ii) the precision tools and instruments business, which sells more than 60,000 instrument patterns and surgical and lighting products to hospitals, surgery centers, and dental, podiatry, and veterinary offices.
• | The Orthopedics and Tissue Technologies segment includes such offerings as skin repair, advanced wound care, amniotic tissue, bone and joint fixation implants in the upper and lower extremities, bone grafts and nerve and tendon repair.
The Corporate and other category includes (i) various legal, finance, information systems, executive, and human resource functions, (ii) brand management, and (iii) share-based compensation costs. The operating results of the various reportable segments as presented are not comparable to one another because (i) certain operating segments are more dependent than others on corporate functions for unallocated general and administrative and/or operational manufacturing functions, and (ii) the Company does not allocate certain manufacturing costs and general and administrative costs to the operating segment results. Net sales and profit by reportable segment for the three and nine months ended September 30, 2017 and 2016 are as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (In thousands)
Segment Net Sales |  |  |  |  |  |  |
Specialty Surgical Solutions | $ | 164,760 |  |  | $ | 159,409 |  |  | $ | 480,907 |  |  | $ | 468,767 |
Orthopedics and Tissue Technologies | 114,074 |  |  | 90,923 |  |  | 338,727 |  |  | 267,644 |
Total revenues | $ | 278,834 |  |  | $ | 250,332 |  |  | $ | 819,634 |  |  | $ | 736,411 |
Segment Profit |  |  |  |  |  |  |
Specialty Surgical Solutions | $ | 68,289 |  |  | $ | 67,148 |  |  | $ | 198,242 |  |  | $ | 188,126 |
Orthopedics and Tissue Technologies | 30,411 |  |  | 27,727 |  |  | 88,500 |  |  | 74,027 |
Segment profit | 98,700 |  |  | 94,875 |  |  | 286,742 |  |  | 262,153 |
Amortization | (5,456 | ) |  | (3,467) |  |  | (14,976) |  |  | (10,410) |
Corporate and other | (82,602 | ) |  | (61,313 | ) |  | (234,180) |  |  | (177,173 | )
Operating income | $ | 10,642 |  |  | $ | 30,095 |  |  | $ | 37,586 |  |  | $ | 74,570 |
The Company does not allocate any assets to the reportable segments. No asset information is reported to the chief operating decision maker and disclosed in the financial information for each segment. The Company attributes revenues to geographic areas based on the location of the customer. Total revenue by major geographic area consisted of the following:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (In thousands)
United States | $ | 213,685 |  |  | $ | 194,346 |  |  | $ | 634,047 |  |  | $ | 567,103 |
Europe | 32,609 |  |  | 28,553 |  |  | 93,924 |  |  | 89,623 |
Rest of World | 32,540 |  |  | 27,433 |  |  | 91,663 |  |  | 79,685 |
Total Revenues | $ | 278,834 |  |  | $ | 250,332 |  |  | $ | 819,634 |  |  | $ | 736,411 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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