| Schedule of Long-lived Assets by Geographic Area |
Our long-lived assets (which are comprised of our net property and equipment) by geographic area at December 31, 2024, 2023 and 2022, consisted of the following (in thousands): | | | | | | | | | | | | 2024 | | 2023 | | 2022 | United States | | $ | 271,734 | | $ | 273,105 | | $ | 281,290 | Ireland | | | 45,325 | | | 42,333 | | | 40,749 | Other foreign countries | | | 69,106 | | | 68,085 | | | 60,937 | Total | | $ | 386,165 | | $ | 383,523 | | $ | 382,976 |
|
| Schedule of Segment Reporting Information, by Segment |
Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the years ended December 31, 2024, 2023 and 2022, are as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended | | Year Ended | | Year Ended | | | December 31, 2024 | | December 31, 2023 | | December 31, 2022 | | | Cardiovascular | | Endoscopy | | Consolidated | | Cardiovascular | | Endoscopy | | Consolidated | | Cardiovascular | | Endoscopy | | Consolidated | Net sales | | $ | 1,301,744 | | $ | 54,770 | | $ | 1,356,514 | | $ | 1,220,560 | | $ | 36,806 | | $ | 1,257,366 | | $ | 1,118,224 | | $ | 32,757 | | $ | 1,150,981 | Cost of sales standard(1) | | | 549,657 | | | 15,746 | | | | | | 534,826 | | | 12,987 | | | | | | 496,678 | | | 12,739 | | | | Cost of sales other(2) | | | 140,948 | | | 6,830 | | | | | | 125,388 | | | 293 | | | | | | 121,045 | | | 1,420 | | | | Selling, general and administrative expenses | | | 376,734 | | | 22,997 | | | | | | 362,082 | | | 11,594 | | | | | | 332,012 | | | 10,513 | | | | Research and development expenses | | | 83,812 | | | 3,654 | | | | | | 80,300 | | | 2,428 | | | | | | 74,042 | | | 1,468 | | | | Other operating expenses(3) | | | 443 | | | — | | | | | | 3,524 | | | — | | | | | | 13,501 | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income from operations | | $ | 150,150 | | $ | 5,543 | | $ | 155,693 | | $ | 114,440 | | $ | 9,504 | | $ | 123,944 | | $ | 80,946 | | $ | 6,617 | | $ | 87,563 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total other expense — net | | | | | | | | | (5,700) | | | | | | | | | (11,855) | | | | | | | | | (4,934) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income before income taxes | | | | | | | | $ | 149,993 | | | | | | | | $ | 112,089 | | | | | | | | $ | 82,629 |
| (1) | Cost of sales standard represents costs of goods sold measured at the internal standard cost for production of inventory. Inventory standard costs include material, labor and manufacturing overhead. |
| (2) | Cost of sales other for all segments include amortization expense associated with our developed technology and license agreement intangible assets, freight and handling associated with shipments to customers, provisions based on estimated excess, slow moving and obsolete inventories, manufacturing and price variances, and royalties. |
| (3) | Other operating expenses include impairment charges, contingent consideration (benefit expense) related to the changes in fair value of contingent payments associated with acquisitions, acquired in-process research and development expense, and certain legal settlements. |
| | | | | | | | | | | | 2024 | | 2023 | | 2022 | Cardiovascular | | $ | 97,749 | | $ | 88,960 | | $ | 80,777 | Endoscopy | | | 4,960 | | | 1,025 | | | 1,027 | Total | | $ | 102,709 | | $ | 89,985 | | $ | 81,804 |
Total depreciation and amortization by operating segment for the years ended December 31, 2024, 2023 and 2022, consisted of the following (in thousands):
|