XML 58 R25.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Segment Reporting | 12 Months Ended
--- | ---
Dec. 31, 2018
Segment Reporting [Abstract] |
Segment Reporting | SEGMENT REPORTING We operate primarily through three business segments: diagnostic and information technology-based products and services for the veterinary market, which we refer to as CAG; water quality products (“Water”); and diagnostic products and services for livestock and poultry health and to ensure the quality and safety of milk and food, which we refer to as LPD. Our Other operating segment combines and presents products for the human point-of-care medical diagnostics market with our out-licensing arrangements because they do not meet the quantitative or qualitative thresholds for reportable segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker, or decision-making group, in deciding how to allocate resources and in assessing performance. Our chief operating decision-maker is our Chief Executive Officer. Our reportable segments include: CAG, Water, LPD, and Other. Assets are not allocated to segments for internal reporting purposes. CAG develops, designs, manufactures and distributes products and performs services for veterinarians and the biomedical analytics market, primarily related to diagnostics and information management. Water develops, designs, manufactures and distributes a range of products used in the detection of various microbiological parameters in water. LPD develops, designs, manufactures and distributes diagnostic tests and related instrumentation and performs services that are used to manage the health status of livestock and poultry, to improve dairy efficiency, and to ensure the quality and safety of milk and food. OPTI Medical manufactures and distributes point-of-care electrolyte and blood gas analyzers and related consumable products for the human medical diagnostics market. Intersegment revenues, which are not included in the table below, were not material for the years ended December 31, 2018, 2017 and 2016. Certain costs are not allocated to our reportable segments and are instead reported under the caption “Unallocated Amounts”. These costs include costs that do not align with one of our existing operating segments or are cost prohibitive to allocate, which primarily consist of our R&D function, regional or country expenses, certain foreign currency revaluation gains and losses on monetary balances in currencies other than our subsidiaries’ functional currency and unusual items. Corporate support function costs (such as information technology, facilities, human resources, finance and legal), health benefits and incentive compensation are charged to our business segments at pre-determined budgeted amounts or rates. Differences from these pre-determined budgeted amounts or rates are captured within Unallocated Amounts. Below is our segment information (in thousand s):
|  | For the Years Ended December 31,
|  | CAG |  | Water |  | LPD |  | Other |  | Unallocated Amounts |  | Consolidated Total
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 1,935,428 |  |  | $ | 125,198 |  |  | $ | 130,581 |  |  | $ | 22,035 |  |  | $ | — |  |  | $ | 2,213,242 |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from operations |  | $ | 429,483 |  |  | $ | 56,607 |  |  | $ | 19,412 |  |  | $ | 3,729 |  |  | $ | (17,896 | ) |  | $ | 491,335 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (33,593 | )
Income before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  | 457,742 |
Provision for income taxes |  |  |  |  |  |  |  |  |  |  |  | 80,695 |
Net income |  |  |  |  |  |  |  |  |  |  |  | 377,047 |
Less: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | 16 |
Net income attributable to IDEXX Laboratories, Inc. stockholders |  |  |  |  |  |  |  |  |  |  |  | $ | 377,031 |
Depreciation and amortization |  | $ | 72,789 |  |  | $ | 2,592 |  |  | $ | 4,094 |  |  | $ | 3,703 |  |  | $ | — |  |  | $ | 83,178 |
Expenditures for long-lived assets(1) |  | $ | 103,300 |  |  | $ | 3,172 |  |  | $ | 4,787 |  |  | $ | 4,492 |  |  | $ | — |  |  | $ | 115,751 |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
2017 |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 1,703,377 |  |  | $ | 114,395 |  |  | $ | 128,481 |  |  | $ | 22,805 |  |  | $ | — |  |  | $ | 1,969,058 |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from operations |  | $ | 363,557 |  |  | $ | 50,616 |  |  | $ | 16,464 |  |  | $ | 4,837 |  |  | $ | (22,446 | ) |  | $ | 413,028 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (31,971 | )
Income before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  | 381,057 |
Provision for income taxes |  |  |  |  |  |  |  |  |  |  |  | 117,788 |
Net income |  |  |  |  |  |  |  |  |  |  |  | 263,269 |
Less: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | 125 |
Net income attributable to IDEXX Laboratories, Inc. stockholders |  |  |  |  |  |  |  |  |  |  |  | $ | 263,144 |
Depreciation and amortization |  | $ | 71,835 |  |  | $ | 2,856 |  |  | $ | 5,052 |  |  | $ | 3,397 |  |  | $ | — |  |  | $ | 83,140 |
Expenditures for long-lived assets(1) |  | $ | 64,759 |  |  | $ | 2,573 |  |  | $ | 3,021 |  |  | $ | 4,031 |  |  | $ | — |  |  | $ | 74,384 |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
2016 |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 1,522,689 |  |  | $ | 103,579 |  |  | $ | 126,491 |  |  | $ | 22,664 |  |  | $ | — |  |  | $ | 1,775,423 |
Income (loss) from operations |  | $ | 301,342 |  |  | $ | 45,702 |  |  | $ | 18,914 |  |  | $ | 884 |  |  | $ | (16,603 | ) |  | $ | 350,239 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (28,393 | )
Income before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  | 321,846 |
Provision for income taxes |  |  |  |  |  |  |  |  |  |  |  | 99,792 |
Net income |  |  |  |  |  |  |  |  |  |  |  | 222,054 |
Less: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | 9 |
Net income attributable to IDEXX Laboratories, Inc. stockholders |  |  |  |  |  |  |  |  |  |  |  | $ | 222,045 |
Depreciation and amortization |  | $ | 64,878 |  |  | $ | 3,098 |  |  | $ | 5,543 |  |  | $ | 4,699 |  |  | $ | — |  |  | $ | 78,218 |
Expenditures for long-lived assets(1) |  | $ | 56,329 |  |  | $ | 2,102 |  |  | $ | 4,824 |  |  | $ | 1,532 |  |  | $ | — |  |  | $ | 64,787 |
(1) | Expenditures for long-lived assets exclude expenditures for intangible assets. See "Note 4. Acquisitions and Investments" for information regarding acquisitions of intangible assets during the years ended December 31, 2018, 2017 and 2016.
See "Note 3. Revenue Recognition" for a summary of disaggregated revenue by reportable segment and by major product and service category for the years ended December 31, 2018, 2017 and 2016. Net long-lived assets, consisting of net property and equipment, are subject to geographic risks because they are generally difficult to move and to effectively utilize in another geographic area in a reasonable time period and because they are relatively illiquid. Net long-lived assets by principal geographic areas were as follows (in thousands):
﻿ |  | December 31, 2018 |  | December 31, 2017
Americas |  |  |  |
United States |  | $ | 348,240 |  |  | $ | 310,696 |
Brazil |  | 16,735 |  |  | 17,030 |
Canada |  | 1,859 |  |  | 2,238 |
﻿ |  | 366,834 |  |  | 329,964 |
Europe, the Middle East and Africa |  |  |  |
Germany |  | 25,036 |  |  | 7,522 |
United Kingdom |  | 11,517 |  |  | 11,528 |
Netherlands |  | 10,273 |  |  | 8,225 |
France |  | 2,130 |  |  | 2,305 |
Switzerland |  | 2,742 |  |  | 1,755 |
Other |  | 3,763 |  |  | 3,838 |
﻿ |  | 55,461 |  |  | 35,173 |
Asia Pacific Region |  |  |  |
Japan |  | 5,296 |  |  | 4,065 |
Australia |  | 4,257 |  |  | 4,426 |
Other |  | 5,422 |  |  | 5,468 |
﻿ |  | 14,975 |  |  | 13,959 |
Total |  | $ | 437,270 |  |  | $ | 379,096 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration