v3.26.1
Segment information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment information Segment information
An operating segment is a component (a) that engages in business activities from which it may earn revenues and incur expenses, (b) whose operating results are regularly reviewed by the chief operating decision maker (in our case, our President and Chief Executive Officer) to make decisions about resources to be allocated to the segment and to assess its performance, and (c) for which discrete financial information is available. The chief operating decision maker utilizes segment operating profit to evaluate operating expenses through a comparison of budget to actual results as well as an analysis of operating expenses as a percentage of revenue. We do not evaluate our operating segments using discrete asset information.
We have three reportable segments: Americas, EMEA (Europe, the Middle East and Africa) and Asia (Asia Pacific). Our reportable segments primarily design, manufacture and distribute medical devices primarily used in critical care and surgical applications and generally serve hospitals and healthcare providers. The products of these segments are most widely used in high-acuity emergent procedures and in general and specialty surgical applications.
The following tables present our segment results for the three and six months ended June 30, 2026 and June 29, 2025:
Three Months Ended June 30, 2026
AmericasEMEAAsiaSegment Total
Net revenues$348,838 $145,531 $75,963 $570,332 
Cost of goods sold
116,520 56,025 30,926 203,471 
Research and development expenses12,976 26,333 3,509 42,818 
Selling, general and administrative expenses77,056 54,780 26,514 158,350 
Segment operating profit (1)
$142,286 $8,393 $15,014 $165,693 
Three Months Ended June 29, 2025
AmericasEMEAAsiaSegment Total
Net revenues$305,055 $89,852 $47,618 $442,525 
Cost of goods sold
109,555 35,130 20,386 165,071 
Research and development expenses11,477 7,836 4,965 24,278 
Selling, general and administrative expenses74,914 29,207 17,789 121,910 
Segment operating profit (1)
$109,109 $17,679 $4,478 $131,266 
Six Months Ended June 30, 2026
AmericasEMEAAsiaSegment Total
Net revenues$681,491 $292,209 $144,894 $1,118,594 
Cost of goods sold
230,681 115,551 56,322 402,554 
Research and development expenses27,221 50,833 6,590 84,644 
Selling, general and administrative expenses150,832 105,198 51,207 307,237 
Segment operating profit (1)
$272,757 $20,627 $30,775 $324,159 
Six Months Ended June 29, 2025
AmericasEMEAAsiaSegment Total
Net revenues$594,781 $172,491 $89,511 $856,783 
Cost of goods sold
211,301 69,601 37,129 318,031 
Research and development expenses23,251 14,708 9,331 47,290 
Selling, general and administrative expenses133,672 57,148 34,026 224,846 
Segment operating profit (1)
$226,557 $31,034 $9,025 $266,616 
(1)Segment operating profit represents income from continuing operations before interest, loss on extinguishment of debt and taxes adjusted to exclude unallocated corporate expenses, manufacturing variances other than fixed manufacturing cost absorption variances, restructuring charges, separation costs and impairment charges. See reconciliation of segment operating profit measures for further details.
Three Months EndedSix Months Ended
June 30, 2026June 29, 2025June 30, 2026June 29, 2025
Reconciliation of segment operating profit measure
Segment operating profit$165,693 $131,266 $324,159 $266,616 
Other unallocated expenses (1)
92,623 29,428 214,061 87,557 
Restructuring charges, separation costs and impairment charges246 10,700 17,091 12,122 
Income from continuing operations before interest, taxes and loss on extinguishment of debt$72,824 $91,138 $93,007 $166,937 
(1)Other unallocated expenses include expenses within costs of goods sold, research and development and selling, general and administrative costs and primarily consist of manufacturing variances other than fixed manufacturing cost absorption variances and unallocated corporate function expenses.
Three Months EndedSix Months Ended
Depreciation and amortization
June 30, 2026June 29, 2025June 30, 2026June 29, 2025
Americas$25,687 $20,377 $47,363 $43,229 
EMEA14,290 9,615 34,601 18,609 
Asia5,524 2,210 10,204 4,300 
Corporate (1)
4,319 4,686 11,395 9,369 
Consolidated depreciation and amortization$49,820 $36,888 $103,563 $75,507 
(1)Reflects depreciation and amortization included within other unallocated expenses per reconciliation of segment operating profit measure.