Segment information

3 Months Ended

Mar. 31, 2019

During the first quarter 2019, the chief operating decision maker, or CODM, (the Company's Chief Executive Officer) changed the manner in which he reviews financial information for purposes of assessing business performance and allocating resources by focusing on the geographic location of all non-OEM operations. As a result, the Company changed its segment presentation. Specifically, the Vascular North America, Interventional North America, Anesthesia North America, Surgical North America, Interventional Urology North America, Respiratory North America and Latin America operating segments were combined into a new Americas segment. The Company now has four segments: Americas, EMEA, Asia and OEM. All prior comparative periods presented have been restated to reflect these changes.

The following tables present the Company’s segment results for the three months ended March 31, 2019 and April 1, 2018:



	Three Months Ended
	March 31, 2019		April 1, 2018
	(Dollars in thousands)
Americas	$	344,024	$	323,262
EMEA	154,545		159,870
Asia	60,777		58,244
OEM	54,238		45,854
Net revenues	$	613,584	$	587,230



	Three Months Ended
	March 31, 2019			April 1, 2018
	(Dollars in thousands)
Americas	$	65,599		$	58,890
EMEA	27,023			31,770
Asia	9,979			13,368
OEM	13,321			9,016
Total segment operating profit ⁽¹⁾	115,922			113,044
Unallocated expenses ⁽²⁾	(40,679		)	(26,201		)
Income from continuing operations before interest and taxes	$	75,243		$	86,843

(1)

Segment operating profit includes segment net revenues from external customers reduced by the segment's standard cost of goods sold, adjusted for fixed manufacturing cost absorption variances, selling, general and administrative expenses, research and development expenses and an allocation of corporate expenses. Corporate expenses are allocated among the segments in proportion to the respective amounts of one of several items (such as net revenues, numbers of employees, and amount of time spent), depending on the category of expense involved.


(2)	Unallocated expenses primarily include manufacturing variances other than fixed manufacturing cost absorption variances, restructuring charges and gain on sale of assets.