INTEGRA LIFESCIENCES HOLDINGS CORPIART
INTEGRA LIFESCIENCES HOLDINGS CORP Segments Disclosure
SEGMENT AND GEOGRAPHIC INFORMATION
The Company is organized primarily on the basis of products and operates two global reportable segments. Resources are allocated and performance is assessed by the Company’s President and Chief Executive Officer, which the Company has determined to be the Chief Operating Decision Maker (“CODM”).
The two reportable segments and their activities are described below.
•The Codman Specialty Surgical segment operations consist of (i) the Neurosurgery business, which sells a full line of products for neurosurgery and neuro critical care such as tissue ablation equipment, dural repair products, cerebral spinal fluid management devices, intracranial monitoring equipment, and cranial stabilization equipment; (ii) the Instruments business, which sells more than 40,000 instrument patterns and surgical and lighting products to hospitals, surgery centers, dental, podiatry, and veterinary offices; and (iii) the ENT business, which includes instrumentation, balloon technologies for sinus dilation and eustachian tube dilation, as well as surgical navigation systems.
•The Tissue Technologies segment operations consists of Wound Reconstruction and Care business, which sells offerings such as skin and wound repair, plastics and surgical reconstruction products and nerve and tendon repair products. The Tissue Technologies segment also includes the Company’s private label business.
The Corporate and Other category includes (i) various executive, finance, human resource, information systems and legal functions, (ii) brand management, and (iii) share-based compensation costs, which are not allocated to the reportable segments.
The accounting policies of both segments are the same as those described in Note 2. Summary of Significant Accounting Policies.
For both segments, the CODM uses segment revenue and segment operating income to assess the performance for each segment and in the annual budgeting and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis for segment revenue and segment operating income when making decisions about allocating capital and personnel to the segments.
The operating results of the reportable segments as presented are not comparable to one another because (i) certain operating segments are more dependent than others on corporate functions for unallocated general and administrative and/or operational manufacturing functions and (ii) the Company does not allocate certain manufacturing costs and general and administrative costs to the reportable segments.
Net sales and profit by each reportable segment for the years ended December 31, 2025, 2024, and 2023 are as follows:
| Dollars in thousands | Codman Specialty Surgical | Tissue Technologies | Corporate and Other | Total | |||||||||||||||||||
| 2025 Total revenue, net | $ | 1,200,511 | $ | 434,734 | $ | — | $ | 1,635,245 | |||||||||||||||
| Cost of goods sold | 397,911 | 181,036 | 224,678 | 803,625 | |||||||||||||||||||
| Research and development | 28,342 | 15,851 | 54,778 | 98,971 | |||||||||||||||||||
| Selling, general and administrative | 265,275 | 145,660 | 288,765 | 699,700 | |||||||||||||||||||
| Intangible asset amortization | — | — | 14,954 | 14,954 | |||||||||||||||||||
| Goodwill impairment | 388,106 | 123,259 | — | 511,365 | |||||||||||||||||||
| 2025 Total cost and expenses | 1,079,634 | 465,806 | 583,175 | 2,128,615 | |||||||||||||||||||
| 2025 Operating income (loss) | $ | 120,877 | $ | (31,072) | $ | (583,175) | (493,370) | ||||||||||||||||
| Interest income | 18,474 | ||||||||||||||||||||||
| Interest expense | (86,255) | ||||||||||||||||||||||
| Other income, net | (2,351) | ||||||||||||||||||||||
| Loss before income taxes | $ | (563,502) | |||||||||||||||||||||
| Codman Specialty Surgical | Tissue Technologies | Corporate and Other | Total | ||||||||||||||||||||
| 2024 Total revenue, net | $ | 1,143,636 | $ | 466,891 | $ | — | $ | 1,610,527 | |||||||||||||||
| Cost of goods sold | 384,422 | 162,535 | 181,509 | 728,466 | |||||||||||||||||||
| Research and development | 30,770 | 18,140 | 66,467 | 115,377 | |||||||||||||||||||
| Selling, general and administrative | 224,370 | 147,047 | 345,566 | 716,983 | |||||||||||||||||||
| Intangible asset amortization | — | — | 21,290 | 21,290 | |||||||||||||||||||
| 2024 Total cost and expenses | 639,562 | 327,722 | 614,832 | 1,582,116 | |||||||||||||||||||
| 2024 Operating income (loss) | $ | 504,074 | $ | 139,169 | $ | (614,832) | 28,411 | ||||||||||||||||
| Interest income | 20,040 | ||||||||||||||||||||||
| Interest expense | (70,632) | ||||||||||||||||||||||
| Other income, net | 3,944 | ||||||||||||||||||||||
| Loss before income taxes | $ | (18,237) | |||||||||||||||||||||
| Codman Specialty Surgical | Tissue Technologies | Corporate and Other | Total | ||||||||||||||||||||
| 2023 Total revenue, net | $ | 1,058,993 | $ | 482,580 | $ | — | $ | 1,541,573 | |||||||||||||||
| Cost of goods sold | 364,144 | 164,966 | 127,728 | 656,838 | |||||||||||||||||||
| Research and development | 29,984 | 24,202 | 50,006 | 104,192 | |||||||||||||||||||
| Selling, general and administrative | 214,335 | 159,364 | 282,942 | 656,641 | |||||||||||||||||||
| Intangible asset amortization | — | — | 12,376 | 12,376 | |||||||||||||||||||
| 2023 Total cost and expenses | 608,463 | 348,532 | 473,052 | 1,430,047 | |||||||||||||||||||
| 2023 Operating income (loss) | $ | 450,530 | $ | 134,048 | $ | (473,052) | 111,526 | ||||||||||||||||
| Interest income | 17,202 | ||||||||||||||||||||||
| Interest expense | (51,377) | ||||||||||||||||||||||
| Other income, net | 3,718 | ||||||||||||||||||||||
| Income before income taxes | $ | 81,069 | |||||||||||||||||||||
The Company does not allocate any assets to the reportable segments. No asset information is reported to the CODM and disclosed in the financial information for each segment. The Company attributes revenues to geographic areas based on the location of the customer. Total revenue by major geographic area consisted of the following:
| Dollars in thousands | United States | Europe | Asia Pacific | Rest of the World | Consolidated | ||||||||||||||||||||||||
| Total revenue, net: | |||||||||||||||||||||||||||||
| 2025 | $ | 1,204,745 | $ | 162,666 | $ | 189,251 | $ | 78,583 | $ | 1,635,245 | |||||||||||||||||||
| 2024 | 1,192,675 | 158,496 | 176,614 | 82,742 | 1,610,527 | ||||||||||||||||||||||||
| 2023 | 1,100,730 | 165,221 | 193,096 | 82,526 | 1,541,573 | ||||||||||||||||||||||||
| Total long-lived assets: | |||||||||||||||||||||||||||||
| 2025 | 530,724 | 56,815 | 33,991 | 1,253 | 622,783 | ||||||||||||||||||||||||
| 2024 | 534,336 | 52,385 | 28,264 | 1,295 | 616,280 | ||||||||||||||||||||||||
| 2023 | 481,508 | 51,730 | 19,842 | 1,497 | 554,577 | ||||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 23, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Feb 26, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 26, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.