Business Segment Information

9 Months Ended

Jul. 31, 2020

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

The Company discloses information about its operating segments, which were established based on the way that management organizes segments within the Company for making operating decisions and assessing financial performance. The Company's two operating segments are described below.

• CooperVision. Competes in the worldwide contact lens market by developing, manufacturing and marketing a broad range of products for contact lens wearers, featuring advanced materials and optics. CooperVision designs its products to solve vision challenges such as astigmatism, presbyopia, myopia, ocular dryness and eye fatigues, with a broad collection of spherical, toric and multifocal contact lenses.

• CooperSurgical. Competes in the general health care market with a focus on advancing the health of women, babies and families through a diversified portfolio of products and services focusing on women's health and fertility.

Cooper uses operating income, as presented in our financial reports, as the primary measure of segment profitability. We do not allocate costs from corporate functions to segment operating income. Items below operating income are not considered when measuring the profitability of a segment. We use the same accounting policies to generate segment results as we do for our consolidated results.

Total identifiable assets are those used in continuing operations except cash and cash equivalents, which we include as corporate assets.

Segment information:

Periods Ended July 31,	Three Months						Nine Months
(In millions)	2020			2019			2020			2019
CooperVision net sales by category:
Toric lens	$	147.6		$	163.1		$	436.3		$	464.4
Multifocal lens	46.9			52.4			143.8			151.1
Single-use sphere lens	126.5			146.3			380.7			413.6
Non single-use sphere, other	128.3			147.3			375.9			434.2
Total CooperVision net sales	$	449.3		$	509.1		$	1,336.7		$	1,463.3
CooperSurgical net sales by category:
Office and surgical products	$	81.7		$	106.3		$	249.7		$	307.7
Fertility	47.2			64.0			162.9			190.8
CooperSurgical net sales	128.9			170.3			412.6			498.5
Total net sales	$	578.2		$	679.4		$	1,749.3		$	1,961.8
Operating income:
CooperVision	$	93.7		$	134.2		$	284.4		$	375.9
CooperSurgical	(9.3		)	20.6			(33.3		)	59.0
Corporate	(12.4		)	(12.6		)	(39.4		)	(34.8		)
Total operating income	72.0			142.2			211.7			400.1
Interest expense	5.7			16.7			30.1			53.3
Other (income) expense, net	(0.1		)	(1.5		)	8.8			(2.1		)
Income before income taxes	$	66.4		$	127.0		$	172.8		$	348.9

(In millions)	July 31, 2020		October 31, 2019
Total identifiable assets:
CooperVision	$	4,240.8	$	3,911.6
CooperSurgical	2,290.7		2,189.8
Corporate	216.9		173.1
Total	$	6,748.4	$	6,274.5

Geographic information:

Periods Ended July 31,	Three Months				Nine Months
(In millions)	2020		2019		2020		2019
Net sales to unaffiliated customers by country of domicile:
United States	$	263.7	$	306.2	$	779.6	$	891.1
Europe	185.2		222.7		577.3		642.0
Rest of world	129.3		150.5		392.4		428.7
Total	$	578.2	$	679.4	$	1,749.3	$	1,961.8

(In millions)	July 31, 2020		October 31, 2019
Net property, plant and equipment by country of domicile:
United States	$	686.2	$	626.5
Europe	367.6		358.8
Rest of world	183.9		146.8
Total	$	1,237.7	$	1,132.1