XML 45 R22.htm IDEA: XBRL DOCUMENT
v3.25.2

SEGMENT INFORMATION | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | 15. SEGMENT INFORMATION Edwards Lifesciences conducts operations worldwide and is managed in the following four reportable segments: United States, Europe, Japan, and Rest of World. All regions sell products that are used to treat advanced cardiovascular disease. The Company's operating segments are organized primarily based on economic characteristics as well as other characteristics, including types of customers, nature of the regulatory environment, and product offerings. The Company's geographic segments are reported based on the financial information provided to the Chief Operating Decision Maker (“CODM”), which is the Company's Chief Executive Officer. The CODM evaluates the performance of the Company's reportable segments based on segment net sales and segment operating income. The CODM considers budget or forecast-to-actual results variances for segment operating income on a periodic basis for evaluating the performance of each segment and making decisions about allocating capital and other resources to each segment. Segment net sales are based on actual foreign exchange rates. Segment expenses and segment operating income are based on internally derived foreign exchange rates and do not include inter-segment profits. Because of the interdependence of the reportable segments, the operating profit as presented may not be representative of the geographical distribution that would occur if the segments were not interdependent. Net sales by geographic area are based on the location of the customer. There were no customers that represented 10% or more of the Company's total net sales. Certain items are maintained at the corporate level and are not allocated to the segments. The non-allocated items include corporate research and development expenses, manufacturing variances, corporate headquarters costs, net interest income, global marketing expenses, special gains and charges, stock-based compensation, foreign currency hedging activities, certain litigation costs, changes in the fair value of contingent consideration liabilities, most of the Company's amortization, and a portion of the Company's depreciation expense. The CODM does not receive information on total assets by reportable segment. The table below presents information about Edwards Lifesciences' reportable segments (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Segment Net Sales |  |  |  |  |  |  |
United States | $ | 889.7 |  |  | $ | 806.4 |  |  | $ | 1,728.6 |  |  | $ | 1,588.5 |
Europe | 378.2 |  |  | 332.2 |  |  | 720.0 |  |  | 658.2 |
Japan | 95.3 |  |  | 86.5 |  |  | 177.1 |  |  | 172.5 |
Rest of World | 169.0 |  |  | 144.3 |  |  | 319.2 |  |  | 280.1 |
Total segment net sales | $ | 1,532.2 |  |  | $ | 1,369.4 |  |  | $ | 2,944.9 |  |  | $ | 2,699.3 |
Cost of Sales |  |  |  |  |  |  |
United States | $ | 167.5 |  |  | $ | 146.4 |  |  | $ | 313.5 |  |  | $ | 286.1 |
Europe | 84.8 |  |  | 74.4 |  |  | 167.0 |  |  | 148.0 |
Japan | 13.6 |  |  | 12.6 |  |  | 25.9 |  |  | 24.4 |
Rest of World | 43.9 |  |  | 40.3 |  |  | 83.7 |  |  | 78.7 |
Total segment cost of sales | $ | 309.8 |  |  | $ | 273.7 |  |  | $ | 590.1 |  |  | $ | 537.2 |
Selling, general, and administrative expenses |  |  |  |  |  |  |
United States | $ | 135.7 |  |  | $ | 117.8 |  |  | $ | 268.9 |  |  | $ | 233.0 |
Europe | 74.2 |  |  | 70.9 |  |  | 147.6 |  |  | 142.3 |
Japan | 18.5 |  |  | 19.6 |  |  | 34.9 |  |  | 45.6 |
Rest of World | 48.3 |  |  | 46.6 |  |  | 90.4 |  |  | 88.0 |
Total segment selling, general, and administrative expenses | $ | 276.7 |  |  | $ | 254.9 |  |  | $ | 541.8 |  |  | $ | 508.9 |
Other Segment Items |  |  |  |  |  |  |
United States | $ | 0.6 |  |  | $ | 0.7 |  |  | $ | 1.2 |  |  | $ | 1.4 |
Europe | 15.2 |  |  | 0.8 |  |  | 6.9 |  |  | 4.9 |
Japan | (0.2) |  |  | (3.6) |  |  | (4.8) |  |  | (2.9) |
Rest of World | (7.9) |  |  | (3.0) |  |  | (17.1) |  |  | (4.1) |
Total other segment items (a) | $ | 7.7 |  |  | $ | (5.1) |  |  | $ | (13.8) |  |  | $ | (0.7) |
Segment Operating Income |  |  |  |  |  |  |
United States | $ | 585.9 |  |  | $ | 541.5 |  |  | $ | 1,145.0 |  |  | $ | 1,068.0 |
Europe | 204.0 |  |  | 186.1 |  |  | 398.5 |  |  | 363.0 |
Japan | 63.4 |  |  | 57.9 |  |  | 121.1 |  |  | 105.4 |
Rest of World | 84.7 |  |  | 60.4 |  |  | 162.2 |  |  | 117.5 |
Total segment operating income | $ | 938.0 |  |  | $ | 845.9 |  |  | $ | 1,826.8 |  |  | $ | 1,653.9 |
_______________________________________________________________________________ (a) Other segment items include research and development expenses and foreign currency. The table below presents a reconciliation of segment operating income to consolidated pre-tax income (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Pre-tax Income Reconciliation |  |  |  |  |  |  |
Segment operating income | $ | 938.0 |  |  | $ | 845.9 |  |  | $ | 1,826.8 |  |  | $ | 1,653.9 |
Unallocated amounts: |  |  |  |  |  |  |
Corporate items | (505.2) |  |  | (480.8) |  |  | (991.4) |  |  | (927.8) |
Separation costs (Note 3) | (4.2) |  |  | — |  |  | (8.4) |  |  | — |
Certain litigation expenses | (15.5) |  |  | (8.1) |  |  | (26.4) |  |  | (17.0) |
Foreign currency | (1.9) |  |  | 9.5 |  |  | 5.4 |  |  | 6.4 |
Consolidated operating income | 411.2 |  |  | 366.5 |  |  | 806.0 |  |  | 715.5 |
Non-operating income | (11.0) |  |  | 17.5 |  |  | 28.1 |  |  | 39.7 |
Consolidated pre-tax income | $ | 400.2 |  |  | $ | 384.0 |  |  | $ | 834.1 |  |  | $ | 755.2 |
Enterprise-wide Information (in millions) Enterprise-wide information is based on actual foreign exchange rates used in the Company's consolidated financial statements. Refer to the segment information above for United States net sales. Sales within any other individual country were less than 10 percent of the Company's consolidated net sales for all periods presented.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net Sales by Major Product Group |  |  |  |  |  |  |
Transcatheter Aortic Valve Replacement | $ | 1,130.9 |  |  | $ | 1,038.6 |  |  | $ | 2,177.5 |  |  | $ | 2,046.5 |
Transcatheter Mitral and Tricuspid Therapies | 134.5 |  |  | 83.0 |  |  | 249.7 |  |  | 155.9 |
Surgical Structural Heart | 266.8 |  |  | 247.8 |  |  | 517.7 |  |  | 496.9 |
| $ | 1,532.2 |  |  | $ | 1,369.4 |  |  | $ | 2,944.9 |  |  | $ | 2,699.3 |

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://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration