Segment information

6 Months Ended

Jun. 30, 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 (Europe, Middle East and Africa), 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 and six months ended June 30, 2019 and July 1, 2018:



	Three Months Ended				Six Months Ended
	June 30, 2019		July 1, 2018		June 30, 2019		July 1, 2018
	(Dollars in thousands)
Americas	$	373,804	$	331,444	$	717,828	$	654,706
EMEA	147,047		153,415		301,592		313,285
Asia	75,228		72,413		136,005		130,657
OEM	56,428		52,594		110,666		98,448
Net revenues	$	652,507	$	609,866	$	1,266,091	$	1,197,096



	Three Months Ended						Six Months Ended
	June 30, 2019			July 1, 2018			June 30, 2019			July 1, 2018
	(Dollars in thousands)
Americas	$	82,509		$	47,315		$	148,108		$	106,205
EMEA	20,827			26,535			47,850			58,305
Asia	19,260			20,746			29,239			34,114
OEM	13,884			13,552			27,205			22,568
Total segment operating profit ₍₁₎	136,480			108,148			252,402			221,192
Unallocated expenses ₍₂₎	(29,022		)	(74,658		)	(69,701		)	(100,859		)
Income from continuing operations before interest and taxes	$	107,458		$	33,490		$	182,701		$	120,333

(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.