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SEGMENT INFORMATION | 12 Months Ended
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Sep. 27, 2024
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company has two reportable operating segments: Medical and Industrial, which aligns with how its CEO, who is the Company's Chief Operating Decision Maker (“CODM”), reviews the Company’s performance. The segments align the Company’s products and service offerings with customer use in medical and industrial and are consistent with how the Company’s CEO evaluates the business for the allocation of resources. The CODM allocates resources to and evaluates the financial performance of each operating segment primarily based on revenues and gross profit. The operating and reportable segment structure provides alignment between business strategies and operating results. Description of Segments The Medical segment designs, manufactures, sells, and services X-ray imaging components, including X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers. These components are used in a range of medical imaging applications including CT, mammography, oncology, cardiac, surgery, dental, and other diagnostic radiography uses. The Industrial segment designs, develops, manufactures, sells and services X-ray imaging products for use in a number of applications, including security applications for cargo screening at ports and borders, baggage screening at airports, and nondestructive testing, irradiation, and inspection applications used in a number of other verticals. The Company's industrial products include Linatron® X-ray linear accelerators, X-ray tubes, digital detectors, high voltage connectors, and coolers. In addition, the Company licenses proprietary image-processing and detection software designed to work with other Varex products to provide packaged sub-assembly solutions to industrial customers. 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:
| Fiscal Years
(In millions) | 2024 |  | 2023 |  | 2022
Revenues |  |  |  |  |
Medical | $ | 581.7 |  |  | $ | 673.3 |  |  | $ | 674.7 |
Industrial | 229.3 |  |  | 220.1 |  |  | 184.7 |
Total revenues | 811.0 |  |  | 893.4 |  |  | 859.4 |
Gross profit |  |  |  |  |
Medical | 176.7 |  |  | 205.5 |  |  | 210.5 |
Industrial | 80.2 |  |  | 84.8 |  |  | 73.0 |
Total gross profit | 256.9 |  |  | 290.3 |  |  | 283.5 |
Total operating expenses | 224.8 |  |  | 213.2 |  |  | 195.3 |
Interest and other expense, net | (27.1) |  |  | (45.8) |  |  | (43.7) |
Income before taxes | 5.0 |  |  | 31.3 |  |  | 44.5 |
Income tax expense (benefit) | 52.2 |  |  | (17.4) |  |  | 13.7 |
Net (loss) income | (47.2) |  |  | 48.7 |  |  | 30.8 |
Less: Net income attributable to noncontrolling interests | 0.5 |  |  | 0.5 |  |  | 0.5 |
Net (loss) income attributable to Varex | $ | (47.7) |  |  | $ | 48.2 |  |  | $ | 30.3 |
The Company does not disclose total assets by segment as this information is not provided to the CODM. Geographic Information
| Revenues |  | Long-Lived Assets
| Fiscal Years |  | Fiscal Years
(In millions) | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023
Americas | $ | 266.5 |  |  | $ | 281.8 |  |  | $ | 273.3 |  |  | $ | 109.2 |  |  | $ | 101.8 |
EMEA | 280.3 |  |  | 290.7 |  |  | 280.8 |  |  | 27.6 |  |  | 22.8 |
APAC | 264.2 |  |  | 320.9 |  |  | 305.3 |  |  | 16.6 |  |  | 19.0 |
Total company | $ | 811.0 |  |  | $ | 893.4 |  |  | $ | 859.4 |  |  | $ | 153.4 |  |  | $ | 143.6 |
Revenue in the United States of America was $257.7 million, $275.1 million and $263.7 million in fiscal years 2024, 2023 and 2022, respectively. The Company operates various manufacturing and marketing operations outside the United States. Americas includes North and South America. EMEA includes Europe, Russia, the Middle East, India and Africa. APAC includes Asia and Australia. Revenues by region are based on the known final destination of products sold.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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