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SEGMENT INFORMATION | 9 Months Ended
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Jun. 29, 2018
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company has two reportable operating segments; (i) Medical and (ii) Industrial, which align with how its Chief Executive Officer views and measures the Company's business performance. The Company's Chief Executive Officer is the Chief Operating Decision Maker and allocates resources to and evaluates the financial performance of each operating segment primarily based on revenues and gross margin. Description of Segments The Medical segment designs, manufactures, sells and services X-ray imaging components for use in a range of applications, including radiographic or fluoroscopic imaging, mammography, special procedures, computed tomography, radiation therapy and computer-aided detection. The Company provides a broad range of X-ray imaging components for Medical customers including X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers and buckys. The Company’s X-ray imaging components are primarily sold to imaging system OEM customers that incorporate them into their medical diagnostic, radiation therapy, dental, veterinary and industrial imaging systems. The Company also sells its X-ray imaging components to independent service companies, distributors and directly to end-users for replacement purposes. The Industrial segment designs, manufactures, sells and services security and inspection products, which include Linatron X-ray accelerators, X-ray tubes, digital detectors, high voltage connectors, image processing software and image detection products for security and inspection purposes, such as cargo screening at ports and borders, airports, and nondestructive examination in a variety of applications. The Company generally sells its Industrial products to OEM customers that incorporate its products into their inspection systems. Accordingly, the following information is provided for purposes of achieving an understanding of operations, but it may not be indicative of the financial results of the reported segments were they independent organizations. In addition, comparisons of the Company’s operations to similar operations of other companies may not be meaningful. Information related to the Company’s segments is as follows:
| Three Months Ended |  | Nine Months Ended
(In millions) | June 29, 2018 |  | June 30, 2017 |  | June 29, 2018 |  | June 30, 2017
Revenues |  |  |  |  |  |  |
Medical | $ | 143.1 |  |  | $ | 134.7 |  |  | $ | 440.8 |  |  | $ | 392.1 |
Industrial | 48.1 |  |  | 35.4 |  |  | 127.8 |  |  | 90.3 |
Total revenues | 191.2 |  |  | 170.1 |  |  | $ | 568.6 |  |  | $ | 482.4 |
Gross margin |  |  |  |  |  |  |
Medical | 45.4 |  |  | 45.3 |  |  | $ | 145.3 |  |  | $ | 136.9 |
Industrial | 17.6 |  |  | 14.2 |  |  | 49.4 |  |  | 38.9 |
Total gross margin | $ | 63.0 |  |  | $ | 59.5 |  |  | $ | 194.7 |  |  | $ | 175.8 |
Total operating expenses | 55.7 |  |  | 44.0 |  |  | 156.6 |  |  | 118.7 |
Interest and other income (expenses), net | (4.7 | ) |  | 0.3 |  |  | (12.6 | ) |  | (0.5 | )
Earnings before taxes | 2.6 |  |  | 15.8 |  |  | 25.5 |  |  | 56.6 |
Taxes on earnings | (1.3 | ) |  | 5.1 |  |  | (2.4 | ) |  | 19.6 |
Net earnings | 3.9 |  |  | 10.7 |  |  | 27.9 |  |  | 37.0 |
Less: Net earnings attributable to noncontrolling interests | 0.1 |  |  | 0.1 |  |  | 0.4 |  |  | 0.2 |
Net earnings attributable to Varex | $ | 3.8 |  |  | $ | 10.6 |  |  | $ | 27.5 |  |  | $ | 36.8 |
The following table summarizes the Company’s total assets by its reportable segments:
(In millions) | June 29, 2018 |  | September 29, 2017
Identifiable assets |  |  |
Medical | $ | 761.9 |  |  | $ | 832.1 |
Industrial | 214.9 |  |  | 208.0 |
Total reportable segments | $ | 976.8 |  |  | $ | 1,040.1 |

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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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