Segment Reporting

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Reporting

13.   Segment Reporting. We report our operations in two operating segments: cardiovascular and endoscopy. Our cardiovascular segment consists of four product categories: peripheral intervention, cardiac intervention, custom procedural solutions, and OEM. Within these product categories, we sell a variety of products, including cardiology and radiology devices (which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases), as well as embolotherapeutic, cardiac rhythm management, electrophysiology, critical care, breast cancer localization and guidance, biopsy, and interventional oncology and spine devices. Our endoscopy segment consists of gastroenterology and pulmonology devices which assist in the palliative treatment of expanding esophageal, tracheobronchial and biliary strictures caused by malignant tumors. We evaluate the performance of our operating segments based on net sales and income from operations.

Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the three and nine-month periods ended September 30, 2023 and 2022, were as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Net sales
Cardiovascular	$	306,084	$	278,949	$	905,335	$	832,555
Endoscopy		9,146		8,226		27,516		25,011
Total net sales		315,230		287,175		932,851		857,566
Income from operations
Cardiovascular		32,622		17,435		82,966		51,836
Endoscopy		2,515		1,222		7,366		5,310
Total income from operations		35,137		18,657		90,332		57,146
Total other expense — net		(4,915)		(1,055)		(9,710)		(4,672)
Income tax expense		4,388		2,330		13,840		11,359
Net income	$	25,834	$	15,272	$	66,782	$	41,115