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SEGMENT AND GEOGRAPHIC INFORMATION
3 Months Ended
Mar. 31, 2024
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 Codman Specialty Surgical 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 Instruments business, which sells more than 40,000 instrument patterns and surgical and lighting products to hospitals, surgery centers, dental, podiatry, and veterinary offices.
The Tissue Technologies segment includes such offerings as skin and wound repair, plastics & surgical reconstruction products, bone grafts, and nerve and tendon repair products.
The Corporate and other category includes (i) various executive, finance, human resource, information systems and legal 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 each reportable segment for the three months ended March 31, 2024 and 2023 are as follows:
Three Months Ended March 31,
Dollars in thousands20242023
Segment Net Sales
Codman Specialty Surgical$256,434 $248,136 
Tissue Technologies
112,438 132,710 
Total revenues$368,872 $380,846 
Segment Profit
Codman Specialty Surgical$103,492 $110,933 
Tissue Technologies
30,66652,281 
Segment profit134,158 163,214 
Amortization(10,107)(3,108)
Corporate and other(120,087)(123,724)
Operating income$3,964 $36,382 
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 March 31,
Dollars in thousands20242023
United States$256,229 $271,002 
Europe41,596 41,064 
Asia Pacific49,545 50,473 
Rest of World21,502 18,307 
Total Revenues$368,872 $380,846