v3.25.2
Segment and Enterprise Reporting
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Segment and Enterprise Reporting
25. Segment and Enterprise Reporting
The Company’s reportable segments are determined based upon the Company’s organizational structure and the way in which the Company’s Chief Operating Decision Maker (CODM), the Company’s CEO, makes operating decisions, assesses financial performance, and allocates resources. As of June 28, 2025, the Company operates under two reportable segments, the healthcare and non-healthcare consumer audio businesses. However, as a result of the non-healthcare consumer audio business being classified as held-for-sale, it has been excluded from the segment and enterprise reporting herein for all periods presented. The Company’s CODM uses segment gross profit, as presented in the Company’ CODM reports, as the primary measure of segment profitability. The significant segment expenses help the Company to better understand operating results. Segment information presented herein reflects the impact of these changes for all periods presented.
Selected information for the healthcare segment is presented below for each of the three and six months ended June 28, 2025 and June 29, 2024:
Three Months Ended
Six Months Ended
(in millions)June 28,
2025		June 29,
2024		June 28,
2025		June 29,
2024
Revenues by segment:
Healthcare$370.3 $343.9 $741.3 $683.5 
Other(1)
0.6 — 1.6 — 
Total revenue by segment$370.9 $343.9 $742.9 $683.5 
Cost of goods sold by segment:
Healthcare
$137.5 $129.0 $274.5 $257.2 
Other(1)
0.1 7.6 1.1 12.4 
Total costs of goods sold by segment$137.6 $136.6 $275.6 $269.6 
Gross profit by segment:
Healthcare
Segment gross profit
$232.8 $214.9 $466.9 $426.3 
Acquired asset amortization(1)(2)
(0.3)(0.5)(0.6)(1.0)
Business transition and related costs(1)(3)
0.8 (6.8)1.1 (7.1)
Acquisitions, integrations, divestitures, and
related costs(1)(4)
— (0.1)— (0.1)
Other(1)
— (0.2)(0.1)(4.2)
Total gross profit by segment$233.3 $207.3 $467.3 $413.9 
____________________________
(1)     Management excludes certain revenues and expenses from segment gross profit. Management considers these excluded amounts to be non-recurring or non-operational and as such, are excluded from segment gross profit as this enables management to better understand operational results.
(2)     Acquired asset amortization is a non-GAAP financial measure. These transactions represent amortization expense in connection with business or assets acquisitions associated with acquired intangible assets including, but not limited to customer relationships, intellectual property, trade names and non-competition agreements.
(3)     Business transition and related costs are a non-GAAP financial measure. These transactions represent gains, losses, and other related costs associated with business transition plans. These items may include but are not limited to severance, relocation, consulting, leasehold exit costs, asset impairment, and other related costs to rationalize our operational footprint and optimize business results.
(4)     Acquisitions, integrations, divestitures, and related costs are a non-GAAP financial measure. These transactions represent gains, losses, and other related costs associated with acquisitions, integrations, investments, divestitures, assets impairments, and in-process research and development.
For the three months ended June 28, 2025, and June 29, 2024, total depreciation and amortization expense for the healthcare segment was $8.4 million and $10.5 million, respectively. For the six months ended June 28, 2025, and June 29, 2024, total depreciation and amortization expense for the healthcare segment was $17.0 million and $20.4 million, respectively.