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Business Segments and Geographic Information
12 Months Ended
Sep. 26, 2020
Segment Reporting [Abstract]  
Business Segments and Geographic Information Business Segments and Geographic InformationThe Company reports segment information in accordance with ASC 280, Segment Reporting. Operating segments are identified as components of an enterprise about which separate, discrete financial information is available for evaluation by the chief operating decision maker, or decision-making group, in making decisions about how to allocate resources and assess performance. The Company’s chief operating decision maker is its chief executive officer, and the Company’s reportable segments have been identified based on the types of products manufactured and the end markets to which the products are sold. Each reportable segment generates revenue from either the sale of medical equipment and related services and/or sale of disposable supplies, primarily used for diagnostic testing and surgical procedures. During the first quarter of fiscal 2020, and each of fiscal 2019 and 2018, the Company had five reportable segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical and Skeletal Health. The Company completed the sale of its Medical Aesthetics business on December 30, 2019, but has continued to incur operating expenses primarily related to indemnification provisions and other matters. 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, goodwill and intangible asset impairment charges, transaction and integration expenses for acquisitions, restructuring, consolidation and divestiture charges, litigation charges, and other one-time or unusual items.
Identifiable assets for the five reportable 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 intersegment revenues. Segment information for fiscal 2020, 2019, and 2018 was as follows:
 Years ended
 September 26,
2020
September 28,
2019
September 29,
2018
Total revenues:
Diagnostics$2,102.1 $1,205.5 $1,147.4 
Breast Health1,151.9 1,314.2 1,218.2 
GYN Surgical376.1 $437.2 422.0 
Skeletal Health81.0 94.8 91.2 
Medical Aesthetics65.3 315.6 339.1 
$3,776.4 $3,367.3 $3,217.9 
Operating income (loss):
Diagnostics$929.7 $163.1 $145.5 
Breast Health192.8 399.3 399.7 
GYN Surgical42.0 99.2 58.3 
Skeletal Health(2.4)(4.2)3.3 
Medical Aesthetics(57.1)(781.2)(844.7)
$1,105.0 $(123.8)$(237.9)
Depreciation and amortization:
Diagnostics$237.3 $246.6 $257.3 
Breast Health48.8 36.8 22.7 
GYN Surgical85.1 87.7 91.6 
Skeletal Health0.7 0.6 0.6 
Medical Aesthetics4.1 91.4 108.1 
$376.0 $463.1 $480.3 
Capital expenditures:
Diagnostics$110.7 $59.2 $57.7 
Breast Health22.4 18.3 14.8 
GYN Surgical17.9 15.7 13.1 
Skeletal Health0.2 1.2 3.3 
Medical Aesthetics1.4 7.0 9.4 
Corporate3.8 7.7 7.3 
$156.4 $109.1 $105.6 
Identifiable assets:
Diagnostics$2,161.4 $2,276.6 $2,442.9 
Breast Health1,200.9 1,127.8 972.4 
GYN Surgical1,438.7 1,328.6 1,414.9 
Skeletal Health38.9 27.3 30.3 
Medical Aesthetics— 159.3 913.3 
Corporate2,355.9 1,522.5 1,457.1 
$7,195.8 $6,442.1 $7,230.9 
 
The Company operates in the following major geographic areas as 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, the United Kingdom and Germany. 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:
 
 Years ended
 September 26,
2020
September 28,
2019
September 29,
2018
United States75.8 %75.3 %75.1 %
Europe15.1 %11.8 %11.7 %
Asia-Pacific6.0 %8.5 %8.6 %
Rest of world3.1 %4.4 %4.6 %
100.0 %100.0 %100.0 %

        The Company’s property, plant and equipment, net were geographically located as follows:
September 26, 2020September 28, 2019September 29, 2018
United States$383.0 $355.5 $366.5 
Europe77.5 64.4 62.0 
Costa Rica20.8 33.0 30.9 
Rest of world10.2 18.0 18.8 
$491.5 $470.9 $478.2