Revenue from Contract with Customer (Policies)

3 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUES

The Company's revenues by segment and by payers/customer groups for the three and six months ended June 30, 2024, and 2023, were as follows:


	For the Three Months Ended June 30, 2024								For the Three Months Ended June 30, 2023
	North America		Europe		Other		Total		North America		Europe		Other		Total
Payer/Customer
Dx
Clients	24	%	—	%	—	%	24	%	24	%	—	%	—	%	24	%
Patients	10	%	—	%	—	%	10	%	10	%	—	%	—	%	10	%
Medicare and Medicaid	8	%	—	%	—	%	8	%	8	%	—	%	—	%	8	%
Third party	36	%	—	%	—	%	36	%	35	%	—	%	—	%	35	%
Total Dx revenues by payer	78	%	—	%	—	%	78	%	77	%	—	%	—	%	77	%
BLS




Pharmaceutical, biotechnology, and medical device companies	9	%	9	%	4	%	22	%	10	%	9	%	4	%	23	%
Total revenues	87	%	9	%	4	%	100	%	87	%	9	%	4	%	100	%


	For the Six Months Ended June 30, 2024								For the Six Months Ended June 30, 2023
	North America		Europe		Other		Total		North America		Europe		Other		Total
Payer/Customer
Dx
Clients	24	%	—	%	—	%	24	%	25	%	—	%	—	%	25	%
Patients	10	%	—	%	—	%	10	%	10	%	—	%	—	%	10	%
Medicare and Medicaid	8	%	—	%	—	%	8	%	8	%	—	%	—	%	8	%
Third party	36	%	—	%	—	%	36	%	35	%	—	%	—	%	35	%
Total Dx revenues by payer	78	%	—	%	—	%	78	%	78	%	—	%	—	%	78	%
BLS




Pharmaceutical, biotechnology, and medical device companies	9	%	9	%	4	%	22	%	9	%	9	%	4	%	22	%
Total revenues	87	%	9	%	4	%	100	%	87	%	9	%	4	%	100	%

Revenues in the U.S. were $2,698.8 (83.8%) and $2,537.0 (83.6%) for the three months ended June 30, 2024 and 2023, respectively, and were $5,353.4 (83.7%) and $5,094.4 (83.9%) for the six months ended June 30, 2024 and 2023, respectively.

Accounts Receivable, Unbilled Services and Unearned Revenue

The following table provides information about accounts receivable, unbilled services, and unearned revenue from contracts with customers as of June 30, 2024 and December 31, 2023:


	June 30, 2024		December 31, 2023
Dx accounts receivable	$	1,331.4	$	1,135.2
BLS accounts receivable	791.6		810.8
Less BLS allowance for doubtful accounts	(34.1)		(32.7)
Accounts receivable	$	2,088.9	$	1,913.3

Gross unbilled services	$	159.3	$	192.9
Less reserve for unbilled services	(1.8)		(7.5)
Unbilled services	$	157.5	$	185.4

Unearned revenue	$	388.3	$	421.7

Revenues recognized during the period that were included in the unearned revenue balance at the beginning of the period were $26.8 and $20.2 for the three months ended June 30, 2024 and 2023, respectively, and $77.8 and $72.8 for the six months ended June 30, 2024 and 2023, respectively.

Credit Loss Rollforward

The Company estimates future expected losses on accounts receivable, unbilled services and notes receivable over the remaining collection period of the instrument. The rollforward for the allowance for credit losses for the six months ended June 30, 2024, was as follows:


	Accounts Receivable		Unbilled Services		Note and Other Receivables		Total
Balance as of December 31, 2023	$	32.7	$	7.5	$	0.7	$	40.9
Plus, credit loss expense	3.4		—		—		3.4

Less, write offs	2.0		5.7		—		7.7
Balance as of June 30, 2024	$	34.1	$	1.8	$	0.7	$	36.6

The credit loss expense in the first six months primarily related to the collection risk from several biotech receivable balances.