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Business Segment and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Information

The following table sets forth our segment information for revenue, measures of segment profit or loss, and significant expenses:

						Three Months Ended September 30, 2025												Nine Months Ended September 30, 2025
(In millions)						2025						2024						2025						2024
Revenue						$	1,209.3					$	994.2					$	3,402.4					$	2,919.5
Less:
Cost of sales (1)						477.9						400.4						1,393.2						1,137.1
Payroll related expenses						233.2						179.9						675.4						569.2
Stock-based compensation expense						44.1						39.8						116.4						115.7
Marketing expense						75.7						65.7						224.9						213.6
Travel related expenses						15.2						14.5						49.1						51.6
Supply expenses and clinical trials						17.7						18.2						45.8						50.9
Consulting & professional fees						33.1						59.9						100.9						175.1
Equipment, office & facility expenses						22.8						20.3						66.8						63.4
IT software and data						36.8						33.2						107.9						96.6
Depreciation and amortization						9.6						9.5						28.1						30.6
Other segment items (2)						0.7						0.8						5.1						4.6
Operating income						242.5						152.0						588.8						411.1
Other income, net						109.8						25.4						158.9						86.6
Income tax expense						68.5						42.8						178.7						73.2
Net income						$	283.8					$	134.6					$	569.0					$	424.5
(1) Includes amounts stated in other significant expense captions.
(2) Other segment items are primarily composed of impairment of assets and bad debt expense.

						Three Months Ended September 30,												Nine Months Ended September 30,
(In millions)						2025						2024						2025						2024
Other segment disclosures
Depreciation and amortization (1)						$	63.6					$	55.3					$	186.6					$	159.9
Expenditures for long-lived assets						$	80.5					$	111.2					$	261.6					$	234.2
Significant noncash items other than depreciation and amortization expense:
Deferred income tax expense (benefit)						$	118.0					$	(11.6)					$	103.3					$	(68.1)
Net (gains) losses on equity investments						$	(82.7)					$	(0.4)					$	(78.1)					$	1.4
(1) Includes depreciation and amortization recorded in both cost of sales and operating expenses.

Schedule of Disaggregation of Revenue

The following table sets forth revenue by major sales channel for the periods shown:

			Three Months Ended September 30, 2025												Three Months Ended September 30, 2024
(In millions)			Amount						% of Total						Amount						% of Total
Distributor			$	1,026.0					85		%				$	843.3					85		%
Direct			183.3						15		%				150.9						15		%
Total revenue			$	1,209.3					100		%				$	994.2					100		%
			Nine Months Ended September 30, 2025												Nine Months Ended September 30, 2024
(In millions)			Amount						% of Total						Amount						% of Total
Distributor			$	2,883.8					85		%				$	2,482.2					85		%
Direct			518.6						15		%				437.3						15		%
Total revenue			$	3,402.4					100		%				$	2,919.5					100		%

Schedule of Revenue from External Customers by Geographic Areas

The following table sets forth revenue by our two primary geographical markets, the United States and International, based on the geographic location to which we deliver the components, for the periods shown:

			Three Months Ended September 30, 2025												Three Months Ended September 30, 2024
(In millions)			Amount						% of Total						Amount						% of Total
United States			$	851.9					70		%				$	701.9					71		%
International			357.4						30		%				292.3						29		%
Total revenue			$	1,209.3					100		%				$	994.2					100		%
			Nine Months Ended September 30, 2025												Nine Months Ended September 30, 2024
(In millions)			Amount						% of Total						Amount						% of Total
United States			$	2,443.4					72		%				$	2,087.0					71		%
International			959.0						28		%				832.5						29		%
Total revenue			$	3,402.4					100		%				$	2,919.5					100		%

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