v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We define our reportable segments based on the way our CODM manages the operations of the business for purposes of allocating resources and assessing performance. We conduct our business in two operating and reportable segments. Our reportable segments include the following:
Specialty Nutrition Systems, or SNS, is a portfolio of products including:
•Enteral feeding, which includes products such as our MIC-KEY enteral feeding tubes and Corpak patient feeding solutions; and
•Neonate solutions, which includes NeoMed neonatal and pediatric feeding solutions and Nexus’ TKO® anti-reflux needleless connectors.
Pain Management and Recovery, or PM&R, is a portfolio of products including:
•Surgical pain and recovery products such as ON-Q and ambIT surgical pain pumps and Game Ready cold and compression therapy systems; and
•Radiofrequency Ablation (“RFA”) solutions, which provide minimally invasive pain relief therapies, such as our COOLIEF, Trident and ESENTEC RFA products used to treat chronic pain conditions.
The CODM evaluates the performance of our two reportable segments and determines how to allocate resources based on Operating Income (Loss), and is regularly provided with segment revenues and expenses. The CODM receives and reviews total assets as presented in the Consolidated Balance Sheets, and does not evaluate asset information at the segment level. The significant expenses included in Operating Income, as regularly provided to the CODM, are as follows (in millions):
Three Months Ended March 31, 2026Three Months Ended March 31, 2025
SNSPM&RTotalSNSPM&RTotal
Net Sales$124.0 $56.3 $180.3 $101.1 $56.2 $157.3 
Reconciliation of consolidated net sales:— 
Corporate and other(a)
1.9 10.2 
Total consolidated net sales$182.2 $167.5 
Cost of goods sold(48.0)(21.7)(35.2)(20.7)
Distribution(7.1)(3.2)(6.3)(2.7)
Research and development expenses(3.7)(1.3)(4.1)(1.1)
Advertising, promotion and selling expenses(15.1)(15.9)(11.8)(14.9)
General expenses(20.8)(12.3)(17.5)(12.7)
Depreciation and amortization expense(6.1)(3.7)(5.0)(3.9)
Other segment items(0.1)— (0.1)— 
Reportable segment operating income (loss)$23.1 $(1.8)$21.3 $21.1 $0.2 $21.3 
Corporate and other(12.4)(11.0)
Interest expense, net(1.3)(0.6)
Income before income taxes$7.6 $9.7 
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(a)Corporate and other net sales includes revenue from our IV infusion oncology pumps.