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BUSINESS SEGMENT INFORMATION | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
BUSINESS SEGMENT INFORMATION | BUSINESS SEGMENT INFORMATION The Company's DIS business is the only reportable segment based on the manner in which the Chief Executive Officer, who is the Company's Chief Operating Decision Maker ("CODM"), assesses performance and allocates resources across the organization. The CODM uses the reported measurement of segment profit (loss) in assessing segment performance versus budget and when deciding how to allocate resources to segments. The DIS business provides diagnostic information services to a broad range of customers within its primary customer channels - physicians, hospitals, and patients and consumers. The DIS business accounted for greater than 95% of net revenues in both 2025 and 2024. All other operating segments include the Company's DS businesses, which consist of its risk assessment services and healthcare information technology businesses. The Company's DS businesses offer solutions for insurers and offer solutions for healthcare providers and payers. As of March 31, 2025, substantially all of the Company’s services were provided within the United States, and substantially all of the Company’s assets were located within the United States. See Note 6 to the audited consolidated financial statements contained in the Company’s 2024 Annual Report on Form 10-K for a discussion of the Company's acquisition of LifeLabs in Canada during August 2024. The following table is a summary of segment information for the three months ended March 31, 2025 and 2024. Segment asset information is not presented since it is not received by the CODM at the operating segment level. The CODM regularly reviews certain consolidated expenses, including employee compensation costs. "Other segment items" principally consist of costs for obtaining, transporting and testing specimens, facility costs used for the delivery of the Company's services, costs associated with the Company's sales and marketing efforts, and costs related to billing operations. Operating income (loss) of each segment represents net revenues less directly identifiable expenses. General corporate activities included in the table below are comprised of general management and administrative corporate expenses, amortization and impairment of intangibles assets and other operating income and expenses, net of certain general corporate activity costs that are allocated to the DIS and DS businesses. The accounting policies of the segments are the same as those of the Company as set forth in Note 2 to the audited consolidated financial statements contained in the Company’s 2024 Annual Report on Form 10-K and Note 2 to the interim unaudited consolidated financial statements.
| Three Months Ended |
| March 31, 2025 |
| DIS |  |  |  | Total |
Net revenues | $ | 2,589 |  |  |  |  | $ | 2,589 |  |
DS revenues |  |  |  |  | 63 |  |
Total net revenues |  |  |  |  | $ | 2,652 |  |
Less: Other segment items | 2,175 |  |  |  |  |  |
Segment operating income | $ | 414 |  |  |  |  | $ | 414 |  |
DS operating income |  |  |  |  | 8 |  |
General corporate activities |  |  |  |  | (76) |  |
Total operating income |  |  |  |  | 346 |  |
Non-operating expense, net |  |  |  |  | (70) |  |
Income before income taxes and equity in earnings of equity method investees |  |  |  |  | 276 |  |
Income tax expense |  |  |  |  | (59) |  |
Equity in earnings of equity method investees, net of taxes |  |  |  |  | 18 |  |
Net income |  |  |  |  | 235 |
Less: Net income attributable to noncontrolling interests |  |  |  |  | 15 |
Net income attributable to Quest Diagnostics |  |  |  |  | $ | 220 |  |
| Three Months Ended |
| March 31, 2024 |
| DIS |  |  |  | Total |
Net revenues | $ | 2,298 |  |  |  |  | $ | 2,298 |  |
DS revenues |  |  |  |  | 68 |  |
Total net revenues |  |  |  |  | $ | 2,366 |  |
Less: Other segment items | 1,925 |  |  |  |  |  |
Segment operating income | $ | 373 |  |  |  |  | $ | 373 |  |
DS operating income |  |  |  |  | 9 |  |
General corporate activities |  |  |  |  | (82) |  |
Total operating income |  |  |  |  | 300 |  |
Non-operating expense, net |  |  |  |  | (34) |  |
Income before income taxes and equity in earnings of equity method investees |  |  |  |  | 266 |  |
Income tax expense |  |  |  |  | (66) |  |
Equity in earnings of equity method investees, net of taxes |  |  |  |  | 8 |  |
Net income |  |  |  |  | 208 |
Less: Net income attributable to noncontrolling interests |  |  |  |  | 14 |
Net income attributable to Quest Diagnostics |  |  |  |  | $ | 194 |  |
Depreciation and amortization expense for the three months ended March 31, 2025 and 2024 was as follows:
| Three Months Ended March 31,
| 2025 |  | 2024
DIS business | $ | 97 |  |  | $ | 84 |
All other operating segments | 4 |  |  | 3 |
General corporate | 39 |  |  | 29 |
Total depreciation and amortization | $ | 140 |  |  | $ | 116 |

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