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BUSINESS SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
BUSINESS SEGMENT INFORMATION | BUSINESS SEGMENT INFORMATION The following table is a summary of segment information for the three and nine months ended September 30, 2025, and 2024. The “management approach” has been used to present the following segment information. This approach is based upon the way the management of the Company organizes segments within an enterprise for making operating decisions and assessing performance. Financial information is reported on the basis that it is used internally by the chief operating decision maker (CODM) for evaluating segment performance and deciding how to allocate resources to segments. The Company’s chief executive officer has been identified as the CODM. The Company’s CODM uses segment operating income to evaluate segment performance and to allocate resources. This segment performance measure excludes the amortization of intangibles and other assets, restructuring and other charges, goodwill and other asset impairments, and certain corporate charges for items such as transaction costs, and other special items. Other operating expenses are comprised primarily of rent, maintenance, sendout testing, utilities, travel and entertainment, and other segment expenses, including shipping costs for Dx. Segment asset information is not presented because it is not used by the CODM.
|  | Three Months Ended September 30, 2025
Revenues: |  | Dx |  | BLS |  | Intercompany eliminations and other |  | LHI
Revenues |  | $ | 2,769.6 |  |  | $ | 799.1 |  |  | $ | (5.2) |  |  | $ | 3,563.5 |
Operating Earnings: |  |  |  |  |  |  |  |
Labor |  | 1,200.6 |  |  | 313.8 |  |  |  |  |
Supplies |  | 589.4 |  |  | 119.5 |  |  |  |  |
Shipping costs |  |  |  | 101.8 |  |  |  |  |
Depreciation |  | 66.4 |  |  | 29.0 |  |  |  |  |
Other operating expenses |  | 462.8 |  |  | 102.8 |  |  |  |  |
Segment operating income |  | $ | 450.4 |  |  | $ | 132.2 |  |  |  |  | $ | 582.6 |
General corporate and unallocated expenses |  |  |  |  |  |  |  | (109.9) |
Amortization of intangibles and other assets |  |  |  |  |  |  |  | (69.5) |
Restructuring and other charges |  |  |  |  |  |  |  | (5.9) |
Goodwill and other asset impairments |  |  |  |  |  |  |  | (0.7) |
Total Operating income |  |  |  |  |  |  |  | 396.6 |
Other (expense) income: |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  | (56.0) |
Investment income |  |  |  |  |  |  |  | 3.5 |
Equity method loss, net |  |  |  |  |  |  |  | (5.2) |
Other, net |  |  |  |  |  |  |  | (1.9) |
Earnings from operations before income taxes |  |  |  |  |  |  |  | $ | 337.0 |
|  | Three Months Ended September 30, 2024
Revenues: |  | Dx |  | BLS |  | Intercompany eliminations and other |  | LHI
Revenues |  | $ | 2,553.5 |  |  | $ | 737.7 |  |  | $ | (9.2) |  |  | $ | 3,282.0 |
Operating Earnings: |  |  |  |  |  |  |  |
Labor |  | 1,146.3 |  |  | 293.1 |  |  |  |  |
Supplies |  | 538.1 |  |  | 109.5 |  |  |  |  |
Shipping costs |  |  |  | 93.7 |  |  |  |  |
Depreciation |  | 65.1 |  |  | 31.5 |  |  |  |  |
Other operating expenses |  | 416.6 |  |  | 89.0 |  |  |  |  |
Segment operating income |  | $ | 387.4 |  |  | $ | 120.9 |  |  |  |  | $ | 508.3 |
General corporate and unallocated expenses |  |  |  |  |  |  |  | (172.5) |
Amortization of intangibles and other assets |  |  |  |  |  |  |  | (63.7) |
Restructuring and other charges |  |  |  |  |  |  |  | (18.0) |
Total Operating income |  |  |  |  |  |  |  | 254.1 |
Other (expense) income: |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  | (50.4) |
Investment income |  |  |  |  |  |  |  | 3.1 |
Equity method loss, net |  |  |  |  |  |  |  | (0.5) |
Other, net |  |  |  |  |  |  |  | 4.3 |
Earnings from operations before income taxes |  |  |  |  |  |  |  | $ | 210.6 |
|  | Nine Months Ended September 30, 2025
Revenues: |  | Dx |  | BLS |  | Intercompany eliminations and other |  | LHI
Revenues |  | $ | 8,148.0 |  |  | $ | 2,305.2 |  |  | $ | (17.3) |  |  | $ | 10,435.9 |
Operating Earnings: |  |  |  |  |  |  |  |
Labor |  | 3,479.3 |  |  | 905.8 |  |  |  |  |
Supplies |  | 1,767.3 |  |  | 361.4 |  |  |  |  |
Shipping costs |  |  |  | 295.0 |  |  |  |  |
Depreciation |  | 193.5 |  |  | 86.6 |  |  |  |  |
Other operating expenses |  | 1,347.2 |  |  | 294.0 |  |  |  |  |
Segment operating income |  | $ | 1,360.7 |  |  | $ | 362.4 |  |  |  |  | $ | 1,723.1 |
General corporate and unallocated expenses |  |  |  |  |  |  |  | (381.5) |
Amortization of intangibles and other assets |  |  |  |  |  |  |  | (207.4) |
Restructuring and other charges |  |  |  |  |  |  |  | (16.4) |
Goodwill and other asset impairments |  |  |  |  |  |  |  | (0.7) |
Total Operating income |  |  |  |  |  |  |  | 1,117.1 |
Other (expense) income: |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  | (169.1) |
Investment income |  |  |  |  |  |  |  | 11.7 |
Equity method loss, net |  |  |  |  |  |  |  | (7.2) |
Other, net |  |  |  |  |  |  |  | (35.6) |
Earnings from operations before income taxes |  |  |  |  |  |  |  | $ | 916.9 |
|  | Nine Months Ended September 30, 2024
Revenues: |  | Dx |  | BLS |  | Intercompany eliminations and other |  | LHI
Revenues |  | $ | 7,558.1 |  |  | $ | 2,155.6 |  |  | $ | (34.2) |  |  | $ | 9,679.5 |
Operating Earnings: |  |  |  |  |  |  |  |
Labor |  | 3,274.6 |  |  | 869.2 |  |  |  |  |
Supplies |  | 1,642.8 |  |  | 319.7 |  |  |  |  |
Shipping costs |  |  |  | 271.8 |  |  |  |  |
Depreciation |  | 189.9 |  |  | 93.0 |  |  |  |  |
Other operating expenses |  | 1,204.0 |  |  | 273.7 |  |  |  |  |
Segment operating income |  | $ | 1,246.8 |  |  | $ | 328.2 |  |  |  |  | $ | 1,575.0 |
General corporate and unallocated expenses |  |  |  |  |  |  |  | (481.7) |
Amortization of intangibles and other assets |  |  |  |  |  |  |  | (186.0) |
Restructuring and other charges |  |  |  |  |  |  |  | (34.6) |
Goodwill and other asset impairments |  |  |  |  |  |  |  | (2.5) |
Total Operating income |  |  |  |  |  |  |  | 870.2 |
Other (expense) income: |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  | (144.9) |
Investment income |  |  |  |  |  |  |  | 7.3 |
Equity method loss, net |  |  |  |  |  |  |  | (0.7) |
Other, net |  |  |  |  |  |  |  | 43.8 |
Earnings from operations before income taxes |  |  |  |  |  |  |  | $ | 775.7 |

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- Definition The entire disclosure for reporting segments including data and tables. 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