XML 41 R26.htm IDEA: XBRL DOCUMENT
v3.20.1

Segment Reporting | 3 Months Ended
--- | ---
Mar. 31, 2020
Segment Reporting [Abstract] |
Segment Reporting | SEGMENT REPORTING 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 (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. Our CODM is our Chief Executive Officer. Our reportable segments include diagnostic and information technology-based products and services for the veterinary market, which we refer to as the Companion Animal Group (“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 improve dairy efficiency, which we refer to as Livestock, Poultry and Dairy (“LPD”). Our Other operating segment combines and presents products for the human medical diagnostics ("OPTI Medical") market with our out-licensing arrangements. Assets are not allocated to segments for internal reporting purposes. Effective January 1, 2020, we modified our management reporting to the Chief Operating Decision Maker to provide a more comprehensive view of the performance of our operating segments by including costs that previously were not allocated to our segments. Prior to January 1, 2020, certain costs were not allocated to our operating segments and were instead reported under the caption “Unallocated Amounts”. These costs primarily consist of our R&D function, regional or country expenses and unusual items. Corporate support function costs (such as information technology, facilities, human resources, finance and legal), health benefits and incentive compensation were charged to our business segments at pre-determined budgeted amounts or rates. Beginning January 1, 2020, the segments will reflect these actual costs allocated to the segment based on various allocation methods, including revenue and headcount. Foreign exchange losses on settlements of foreign currency denominated transactions are not allocated to our operating segments and are instead reported within our Other reporting segment. The following table reflects adjustments to previously reported costs in our Unallocated segment, that are now allocated to our CAG, Water, LPD and Other segments for the three months ended March 31, 2019:
(in thousands) |  |  |  |  |  |  |  |  |  |
|  | CAG |  | Water |  | LPD |  | Other |  | Unallocated
Cost of sales |  | $ | (182 | ) |  | $ | (8 | ) |  | $ | (10 | ) |  | $ | (4 | ) |  | $ | 204 |
Gross profit |  | 182 |  |  | 8 |  |  | 10 |  |  | 4 |  |  | (204 | )
Operating Expenses: |  |  |  |  |  |  |  |  |  |
Sales and marketing |  | $ | 129 |  |  | $ | 6 |  |  | $ | 7 |  |  | $ | — |  |  | $ | (142 | )
General and administrative |  | (202 | ) |  | (40 | ) |  | (47 | ) |  | 215 |  |  | 74 |
Research and development |  | 3,558 |  |  | 9 |  |  | 11 |  |  | — |  |  | (3,578 | )
Total operating expenses |  | 3,485 |  |  | (25 | ) |  | (29 | ) |  | 215 |  |  | (3,646 | )
Income from operations |  | $ | (3,303 | ) |  | $ | 33 |  |  | $ | 39 |  |  | $ | (211 | ) |  | $ | 3,442 |
The following is a summary of segment performance:
(in thousands) |  | For the Three Months Ended March 31,
﻿ |  | CAG |  | Water |  | LPD |  | Other |  | Consolidated Total
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 551,996 |  |  | $ | 34,149 |  |  | $ | 34,154 |  |  | $ | 6,037 |  |  | $ | 626,336 |
﻿ |  |  |  |  |  |  |  |  |  |
Income from operations |  | $ | 118,659 |  |  | $ | 15,882 |  |  | $ | 9,663 |  |  | $ | 121 |  |  | $ | 144,325 |
Interest expense, net |  |  |  |  |  |  |  |  |  | (7,552 | )
Income before provision for income taxes |  |  |  |  |  |  |  |  |  | 136,773 |
Provision for income taxes |  |  |  |  |  |  |  |  |  | 24,917 |
Net income |  |  |  |  |  |  |  |  |  | 111,856 |
Less: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  | 29 |
Net income attributable to IDEXX Laboratories, Inc. stockholders |  |  |  |  |  |  |  |  |  | $ | 111,827 |
﻿ |  |  |  |  |  |  |  |  |  |
2019 |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 508,918 |  |  | $ | 30,310 |  |  | $ | 31,506 |  |  | $ | 5,322 |  |  | $ | 576,056 |
﻿ |  |  |  |  |  |  |  |  |  |
Income from operations |  | $ | 111,719 |  |  | $ | 13,815 |  |  | $ | 6,289 |  |  | $ | 1,315 |  |  | $ | 133,138 |
Interest expense, net |  |  |  |  |  |  |  |  |  | (8,346 | )
Income before provision for income taxes |  |  |  |  |  |  |  |  |  | 124,792 |
Provision for income taxes |  |  |  |  |  |  |  |  |  | 22,083 |
Net income |  |  |  |  |  |  |  |  |  | 102,709 |
Less: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  | 28 |
Net income attributable to IDEXX Laboratories, Inc. stockholders |  |  |  |  |  |  |  |  |  | $ | 102,681 |
See “Note 3. Revenue Recognition” for a summary of disaggregated revenue by reportable segment and by major product and service category for the three months ended March 31, 2020 and 2019.

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