v3.24.2
SEGMENT AND GEOGRAPHIC INFORMATION
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION SEGMENT AND GEOGRAPHIC INFORMATION
The Company internally manages two global reportable segments and reports the results of its businesses to its chief operating decision maker. The two reportable segments and their activities are described below.
•The Codman Specialty Surgical segment includes (i) the Neurosurgery business, which sells a full line of products for neurosurgery and neuro critical care such as tissue ablation equipment, dural repair products, cerebral spinal fluid management devices, intracranial monitoring equipment, and cranial stabilization equipment; (ii) the Instruments business, which sells more than 40,000 instrument patterns and surgical and lighting products to hospitals, surgery centers, dental, podiatry, and veterinary offices; and (iii) the ENT business, which includes instrumentation, balloon technologies for sinus dilation and eustachian tube dilation, as well as surgical navigation systems.
•The Tissue Technologies segment consists of the Wound Reconstruction and Care business, which includes offerings such as skin and wound repair products, plastics and surgical reconstruction products, bone grafts, and nerve and tendon repair products. The Tissue Technologies segment includes the Company’s private label business.
The Corporate and other category includes (i) various executive, finance, human resource, information systems and legal functions, (ii) brand management, and (iii) share-based compensation costs.
The operating results of the various reportable segments as presented are not comparable to one another because (i) certain operating segments are more dependent than others on corporate functions for unallocated general and administrative and/or operational manufacturing functions, and (ii) the Company does not allocate certain manufacturing costs and general and administrative costs to the operating segment results. Net sales and profit by each reportable segment for the three and six months ended June 30, 2024 and 2023 are as follows:
Three Months Ended June 30,Six Months Ended June 30,
Dollars in thousands2024202320242023
Segment Net Sales
Codman Specialty Surgical$301,761 $271,030 $558,195 $519,166 
Tissue Technologies
116,414 110,237 228,852 242,947 
Total revenues$418,175 $381,267 $787,047 $762,113 
Segment Profit
Codman Specialty Surgical$164,141 $116,341 $267,633 $227,274 
Tissue Technologies
37,187 8,062 67,85360,343 
Segment profit201,328 124,403 335,486 287,617 
Amortization(3,707)(3,026)(13,814)(6,134)
Corporate and other(200,650)(108,873)(320,737)(232,597)
Operating income$(3,029)$12,504 $935 $48,886 
The Company does not allocate any assets to the reportable segments. No asset information is reported to the chief operating decision maker and disclosed in the financial information for each segment. The Company attributes revenues to geographic areas based on the location of the customer. Total revenue by major geographic area consisted of the following:
 Three Months Ended June 30,Six Months Ended June 30,
Dollars in thousands2024202320242023
United States$310,225 $276,782 $566,454 $547,784 
Europe40,689 37,452 82,285 78,516 
Asia Pacific45,951 47,706 95,496 98,179 
Rest of World21,310 19,327 42,812 37,634 
Total Revenues$418,175 $381,267 $787,047 $762,113