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Business Segments and Geographic Information
12 Months Ended
Sep. 24, 2022
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 fiscal 2022 and fiscal 2021, the Company had four reportable segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. During the first quarter of fiscal 2020, 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. 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 reportable segments consist of inventories, intangible assets, goodwill, and property, plant and equipment. The Company fully allocates depreciation expense to its reportable segments. The Company has presented all other identifiable assets as corporate assets. There were no intersegment revenues. Segment information for fiscal 2022, 2021, and 2020 was as follows:
 Years ended
 September 24,
2022
September 25,
2021
September 26,
2020
Total revenues:
Diagnostics$3,018.5 $3,695.0 $2,102.1 
Breast Health1,227.8 1,352.3 1,151.9 
GYN Surgical522.9 488.1 376.1 
Skeletal Health93.6 96.9 81.0 
Medical Aesthetics— — 65.3 
$4,862.8 $5,632.3 $3,776.4 
Operating income (loss):
Diagnostics$1,359.4 $2,140.1 $929.7 
Breast Health183.2 284.2 192.8 
GYN Surgical104.9 58.9 42.0 
Skeletal Health(7.3)(2.9)(2.4)
Medical Aesthetics— — (57.1)
$1,640.2 $2,480.3 $1,105.0 
Depreciation and amortization:
Diagnostics$274.0 $260.4 $237.3 
Breast Health58.8 52.7 48.8 
GYN Surgical96.6 93.1 85.1 
Skeletal Health0.7 0.7 0.7 
Medical Aesthetics— — 4.1 
$430.1 $406.9 $376.0 
Capital expenditures:
Diagnostics$96.8 $147.7 $110.7 
Breast Health14.6 14.2 22.4 
GYN Surgical12.8 14.5 17.9 
Skeletal Health0.3 0.3 0.2 
Medical Aesthetics— — 1.4 
Corporate2.7 1.0 3.8 
$127.2 $177.7 $156.4 
Identifiable assets:
Diagnostics$2,881.7 $3,348.8 $2,161.4 
Breast Health1,245.8 1,233.9 1,200.9 
GYN Surgical1,461.5 1,369.7 1,438.7 
Skeletal Health27.5 31.9 38.9 
Corporate3,454.7 2,935.6 2,355.9 
$9,071.2 $8,919.9 $7,195.8 
 
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, Italy, the Netherlands, 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 24,
2022
September 25,
2021
September 26,
2020
United States71.3 %69.3 %75.8 %
Europe18.3 %21.3 %15.1 %
Asia-Pacific7.4 %6.5 %6.0 %
Rest of world3.0 %2.9 %3.1 %
100.0 %100.0 %100.0 %

        The Company’s property, plant and equipment, net were geographically located as follows:
September 24, 2022September 25, 2021September 26, 2020
United States$332.4 $403.2 $383.0 
Europe103.8 122.9 77.5 
Costa Rica32.1 26.9 20.8 
Rest of world13.3 11.7 10.2 
$481.6 $564.7 $491.5