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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Oct. 31, 2023
Revenue from External Customer [Line Items] |
Segment profitability | The following tables reflect segment results under our management reporting system after excluding certain unallocated costs as noted in the reconciliations below:
| Years Ended October 31,
| 2023 |  | 2022 |  | 2021
| (in millions)
Net Revenue: |  |  |  |  |
Life Sciences and Applied Markets | $ | 3,856 |  |  | $ | 4,007 |  |  | $ | 3,663 |
Diagnostics and Genomics | 1,409 |  |  | 1,389 |  |  | 1,296 |
Agilent CrossLab | 1,568 |  |  | 1,452 |  |  | 1,360 |
Total net revenue | $ | 6,833 |  |  | $ | 6,848 |  |  | $ | 6,319 |
Income from Operations: |  |  |  |  |
Life Sciences and Applied Markets | $ | 1,116 |  |  | $ | 1,186 |  |  | $ | 1,017 |
Diagnostics and Genomics | 296 |  |  | 301 |  |  | 273 |
Agilent CrossLab | 463 |  |  | 370 |  |  | 323 |
Total reportable segment income from operations | 1,875 |  |  | 1,857 |  |  | 1,613 |
Share-Based Compensation Expense: |  |  |  |  |
Life Sciences and Applied Markets | $ | 66 |  |  | $ | 69 |  |  | $ | 60 |
Diagnostics and Genomics | 22 |  |  | 25 |  |  | 22 |
Agilent CrossLab | 24 |  |  | 26 |  |  | 24 |
Unallocated share-based compensation expenses (1) | — |  |  | 6 |  |  | 5 |
Total share-based compensation expense | $ | 112 |  |  | $ | 126 |  |  | $ | 111 |
Depreciation Expense: |  |  |  |  |
Life Sciences and Applied Markets | $ | 63 |  |  | $ | 59 |  |  | $ | 60 |
Diagnostics and Genomics | 40 |  |  | 39 |  |  | 39 |
Agilent CrossLab | 25 |  |  | 22 |  |  | 23 |
Total depreciation expense | $ | 128 |  |  | $ | 120 |  |  | $ | 122 |
(1) Share-based compensation expense amounts not allocated to the segments relate to accelerated share-based compensation expense from workforce reduction and from acquisition of businesses.
Segment assets include allocations of corporate assets, goodwill, net other intangibles and other assets. Unallocated assets primarily consist of cash, cash equivalents, prepaid expenses, long-term investments, deferred tax assets, right-of use assets and other assets.
The following table reflects segment assets and capital expenditures under our management reporting system.
|  | October 31,
|  | 2023 |  | 2022
|  | (in millions)
Assets: |  |  |  |
Life Sciences and Applied Markets |  | $ | 3,820 |  |  | $ | 3,955 |
Diagnostics and Genomics |  | 3,307 |  |  | 3,489 |
Agilent CrossLab |  | 897 |  |  | 869 |
Total reportable segment assets |  | $ | 8,024 |  |  | $ | 8,313 |
Capital Expenditures: |  |  |  |
Life Sciences and Applied Markets |  | $ | 70 |  |  | $ | 77 |
Diagnostics and Genomics |  | 206 |  |  | 181 |
Agilent CrossLab |  | 22 |  |  | 33 |
Total capital expenditures |  | $ | 298 |  |  | $ | 291 |
Reconciliation of Reportable Segment Income from Operations to Consolidated Income before taxes. |
The following table reconciles reportable segments' income from operations to Agilent's total enterprise income before taxes:
| Years Ended October 31,
| 2023 |  | 2022 |  | 2021
| (in millions)
Total reportable segments' income from operations | $ | 1,875 |  |  | $ | 1,857 |  |  | $ | 1,613 |
Unallocated Costs |  |  |  |  |
Amortization of intangible assets related to business combinations | (139) |  |  | (191) |  |  | (194) |
Acquisition and integration costs | (16) |  |  | (25) |  |  | (41) |
Transformational initiatives | (25) |  |  | (30) |  |  | (37) |
Asset impairments | (277) |  |  | — |  |  | (2) |
Business exit and divestiture costs | — |  |  | (7) |  |  | (5) |
Change in fair value of contingent consideration | (1) |  |  | 25 |  |  | 21 |
Restructuring and other related costs | (46) |  |  | — |  |  | — |
Other | (21) |  |  | (11) |  |  | (8) |
Total unallocated costs | (525) |  |  | (239) |  |  | (266) |
Income from operations | 1,350 |  |  | 1,618 |  |  | 1,347 |
Interest income | 51 |  |  | 9 |  |  | 2 |
Interest expense | (95) |  |  | (84) |  |  | (81) |
Other income (expense, net | 33 |  |  | (39) |  |  | 92 |
Income before taxes | $ | 1,339 |  |  | $ | 1,504 |  |  | $ | 1,360 |
Reconciliation of Assets from Segment to Consolidated |
The following table reconciles segment assets to Agilent's total assets:
|  | October 31,
|  | 2023 |  | 2022
|  | (in millions)
Total reportable segments' assets |  | $ | 8,024 |  |  | $ | 8,313 |
Cash and cash equivalents |  | 1,590 |  |  | 1,053 |
Prepaid expenses |  | 139 |  |  | 119 |
Long-term investments |  | 164 |  |  | 195 |
Long-term and other receivables |  | 127 |  |  | 134 |
Deferred tax assets |  | 284 |  |  | 246 |
Right of use assets |  | 154 |  |  | 150 |
Others |  | 281 |  |  | 322 |
Total assets |  | $ | 10,763 |  |  | $ | 10,532 |
The other category primarily includes over funded pension plans which are not allocated to the segments.
Revenue and assets by geographic areas | The following table presents summarized information for net revenue by geographic region. Revenues from external customers are generally attributed to countries based upon the customers' location.
| Years Ended October 31,
| 2023 |  | 2022 |  |  |  | 2021
| (in millions)
Net revenue: |  |  |  |  |  |  |
United States | $ | 2,410 |  |  | $ | 2,385 |  |  |  |  | $ | 2,159 |
China including Hong Kong | 1,383 |  |  | 1,499 |  |  |  |  | 1,273 |
Rest of the world | 3,040 |  |  | 2,964 |  |  |  |  | 2,887 |
Total net revenue | 6,833 |  |  | 6,848 |  |  |  |  | 6,319 |
The following table presents summarized information for long-lived assets by geographic region. Long lived assets consist of property, plant, and equipment, right-of-use assets, long-term receivables and other long-term assets excluding intangible assets. The rest of the world primarily consists of Asia and the rest of Europe.
| October 31,
| 2023 |  |  |  | 2022
| (in millions)
Long-lived Assets: |  |  |  |  |
United States | $ | 1,188 |  |  |  |  | $ | 1,080 |
Germany | 192 |  |  |  |  | 151 |
Rest of World | 471 |  |  |  |  | 492 |
Total Long-lived Assets | $ | 1,851 |  |  |  |  | $ | 1,723 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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