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Business Segments and Geographic Information
9 Months Ended
Jun. 29, 2019
Segment Reporting [Abstract]  
Business Segments and Geographic Information Business Segments and Geographic Information
The Company has five reportable segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical and Skeletal Health. The Company measures and evaluates its reportable segments based on segment revenues and operating income adjusted to exclude the effect of non-cash charges, such as intangible asset amortization expense, intangible asset and goodwill impairment charges, acquisition related fair value adjustments and integration expenses, restructuring, divestiture and facility consolidation charges and other one-time or unusual items.
Identifiable assets for the five principal operating segments consist of inventories, intangible assets, goodwill, and property, plant and equipment. The Company fully allocates depreciation expense to its five reportable segments. The Company has presented all other identifiable assets as corporate assets. There were no inter-segment revenues during the three and nine months ended June 29, 2019 and June 30, 2018. Segment information is as follows:
 
Three Months Ended
 
Nine Months Ended
 
June 29,
2019
 
June 30,
2018
 
June 29,
2019
 
June 30,
2018
Total revenues:
 
 
 
 
 
 
 
Diagnostics
$
305.4

 
$
294.2

 
$
898.6

 
$
858.5

Breast Health
325.4

 
307.9

 
971.6

 
896.0

Medical Aesthetics
85.0

 
91.7

 
238.6

 
268.5

GYN Surgical
112.2

 
107.7

 
322.8

 
314.7

Skeletal Health
24.4

 
22.5

 
69.8

 
66.8

 
$
852.4


$
824.0


$
2,501.4


$
2,404.5

Income (loss) from operations:
 
 
 
 
 
 
 
Diagnostics
$
45.7

 
$
32.3

 
$
120.1

 
$
103.1

Breast Health
97.5

 
100.0

 
294.3

 
291.2

Medical Aesthetics
(18.6
)
 
(22.2
)
 
(517.6
)
 
(805.3
)
GYN Surgical
22.5

 
22.9

 
70.0

 
71.1

Skeletal Health
(1.8
)
 
0.1

 
(4.1
)
 
3.0

 
$
145.3


$
133.1

 
$
(37.3
)
 
$
(336.9
)
Depreciation and amortization:
 
 
 
 
 
 
 
Diagnostics
$
61.6

 
$
64.6

 
$
184.9

 
$
193.4

Breast Health
9.3

 
5.8

 
27.5

 
16.2

Medical Aesthetics
20.4

 
26.9

 
71.0

 
82.4

GYN Surgical
21.9

 
23.0

 
65.8

 
68.7

Skeletal Health
0.1

 
0.2

 
0.5

 
0.5

 
$
113.3


$
120.5


$
349.7


$
361.2

Capital expenditures:
 
 
 
 
 
 
 
Diagnostics
$
14.2

 
$
12.8

 
$
44.7

 
$
38.7

Breast Health
3.0

 
4.5

 
9.7

 
11.8

Medical Aesthetics
1.2

 
1.6

 
5.7

 
6.7

GYN Surgical
4.3

 
2.5

 
10.9

 
8.2

Skeletal Health
0.4

 
1.3

 
1.0

 
2.1

Corporate
2.7

 
2.0

 
5.7

 
6.0

 
$
25.8


$
24.7


$
77.7


$
73.5

 
 
June 29,
2019
 
September 29,
2018
Identifiable assets:
 
 
 
Diagnostics
$
2,323.7

 
$
2,442.9

Breast Health
1,136.8

 
972.4

Medical Aesthetics
417.9

 
913.3

GYN Surgical
1,357.1

 
1,414.9

Skeletal Health
33.9

 
30.3

Corporate
1,253.0

 
1,457.1

 
$
6,522.4

 
$
7,230.9


The reduction in identifiable assets for the Medical Aesthetics reportable segment was due to the Company recording an impairment charge of $443.8 million in the second quarter of fiscal 2019 (see Note 14).
The Company had no customers that represented greater than 10% of consolidated revenues during the three and nine months ended June 29, 2019 and June 30, 2018.
The Company operates in the major geographic areas noted in the below chart. Revenue data is based upon customer location. Other than the United States, no single country accounted for more than 10% of consolidated revenues. The Company’s sales in Europe are predominantly derived from France, Germany and the United Kingdom. The Company’s sales in Asia-Pacific are predominantly derived from China, Australia and Japan. The “Rest of World” designation includes Canada, Latin America and the Middle East.
Revenues by geography as a percentage of total revenues were as follows:
 
 
Three Months Ended
 
Nine Months Ended
 
June 29,
2019
 
June 30,
2018
 
June 29,
2019
 
June 30,
2018
United States
75.4
%
 
74.9
%
 
75.1
%
 
75.0
%
Europe
11.3
%
 
11.4
%
 
12.0
%
 
11.8
%
Asia-Pacific
8.9
%
 
9.0
%
 
8.4
%
 
8.5
%
Rest of World
4.4
%
 
4.7
%
 
4.5
%
 
4.7
%
 
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%