XML 43 R22.htm IDEA: XBRL DOCUMENT
v3.24.3

Business Segment Information | 12 Months Ended
--- | ---
Oct. 31, 2024
Segment Reporting [Abstract] |
Business Segment Information | Note 12. Business Segment Information The Company discloses information about its operating segments, which were established based on the way that management organizes segments within the Company for making operating decisions and assessing financial performance. The Company's two operating segments are described below. •CooperVision. Competes in the worldwide contact lens market by developing, manufacturing and marketing a broad range of products for contact lens wearers, featuring advanced materials and optics. •CooperSurgical. Competes in the fertility and women's health care market through its diversified portfolio of products and services, including fertility products and services, medical devices, cryostorage (such as cord blood and cord tissue storage) and contraception. The Company uses operating income, as presented in our financial reports, as the primary measure of segment profitability. The Company does not allocate costs from corporate functions to segment operating income. The Company uses the same accounting policies to generate segment results as it does for consolidated results. No customers accounted for 10% or more of our consolidated net revenue in fiscal 2024, 2023 and 2022. Total identifiable assets are those used in continuing operations except cash and cash equivalents, which the Company includes as corporate assets. The following table presents a summary of our business segment net sales:
(In millions) | 2024 |  | 2023 |  | 2022
CooperVision net sales by category: |  |  |  |  |
Toric and multifocal | $ | 1,257.2 |  |  | $ | 1,134.4 |  |  | $ | 1,001.8 |
Sphere, other | 1,352.2 |  |  | 1,289.3 |  |  | 1,241.5 |
Total CooperVision net sales | 2,609.4 |  |  | 2,423.7 |  |  | 2,243.3 |
CooperSurgical net sales by category: |  |  |  |  |
Office and surgical | 774.7 |  |  | 689.5 |  |  | 633.6 |
Fertility | 511.3 |  |  | 480.0 |  |  | 431.5 |
Total CooperSurgical net sales | 1,286.0 |  |  | 1,169.5 |  |  | 1,065.1 |
Total net sales | $ | 3,895.4 |  |  | $ | 3,593.2 |  |  | $ | 3,308.4 |
Information by business segment for each of the years in the three-year period ended October 31, 2024, follows:
(In millions) | CooperVision |  | CooperSurgical |  | Corporate |  | Consolidated
2024 |  |  |  |  |  |  |
Net sales | $ | 2,609.4 |  |  | $ | 1,286.0 |  |  | $ | — |  |  | $ | 3,895.4 |
Operating income (loss) | $ | 676.2 |  |  | $ | 118.3 |  |  | $ | (88.8) |  |  | $ | 705.7 |
Interest expense |  |  |  |  |  |  | 114.3 |
Other expense, net |  |  |  |  |  |  | 9.1 |
Income before income taxes |  |  |  |  |  |  | $ | 582.3 |
Identifiable assets | $ | 7,285.1 |  |  | $ | 4,832.0 |  |  | $ | 198.1 |  |  | $ | 12,315.2 |
Depreciation expense | $ | 151.8 |  |  | $ | 22.1 |  |  | $ | — |  |  | $ | 173.9 |
Amortization expense | $ | 28.2 |  |  | $ | 173.0 |  |  | $ | — |  |  | $ | 201.2 |
Capital expenditures | $ | 388.6 |  |  | $ | 32.6 |  |  | $ | — |  |  | $ | 421.2 |
2023 |  |  |  |  |  |  |
Net sales | $ | 2,423.7 |  |  | $ | 1,169.5 |  |  | $ | — |  |  | $ | 3,593.2 |
Operating income (loss) | $ | 587.7 |  |  | $ | 16.1 |  |  | $ | (70.7) |  |  | $ | 533.1 |
Interest expense |  |  |  |  |  |  | 105.3 |
Other expense, net |  |  |  |  |  |  | 14.9 |
Income before income taxes |  |  |  |  |  |  | $ | 412.9 |
Identifiable assets | $ | 7,044.0 |  |  | $ | 4,351.8 |  |  | $ | 263.1 |  |  | $ | 11,658.9 |
Depreciation expense | $ | 156.9 |  |  | $ | 24.6 |  |  | $ | — |  |  | $ | 181.5 |
Amortization expense | $ | 32.9 |  |  | $ | 153.3 |  |  | $ | — |  |  | $ | 186.2 |
Capital expenditures | $ | 364.4 |  |  | $ | 28.1 |  |  | $ | — |  |  | $ | 392.5 |
2022 |  |  |  |  |  |  |
Net sales | $ | 2,243.3 |  |  | $ | 1,065.1 |  |  | $ | — |  |  | $ | 3,308.4 |
Operating income (loss) | $ | 494.3 |  |  | $ | 67.1 |  |  | $ | (53.8) |  |  | $ | 507.6 |
Interest expense |  |  |  |  |  |  | 57.3 |
Other (income), net |  |  |  |  |  |  | (25.0) |
Income before income taxes |  |  |  |  |  |  | $ | 475.3 |
Identifiable assets | $ | 6,778.9 |  |  | $ | 4,407.8 |  |  | $ | 305.6 |  |  | $ | 11,492.3 |
Depreciation expense | $ | 144.5 |  |  | $ | 22.1 |  |  | $ | — |  |  | $ | 166.6 |
Amortization expense | $ | 32.3 |  |  | $ | 147.2 |  |  | $ | — |  |  | $ | 179.5 |
Capital expenditures | $ | 223.0 |  |  | $ | 19.0 |  |  | $ | — |  |  | $ | 242.0 |
Information by geographical area by country of domicile for each of the years in the three-year period ended October 31, 2024, follows:
(In millions) | United States |  | Europe |  | Rest of World, Other Eliminations & Corporate |  | Consolidated
2024 |  |  |  |  |  |  |
Net sales to unaffiliated customers | $ | 1,965.9 |  |  | $ | 1,155.9 |  |  | $ | 773.6 |  |  | $ | 3,895.4 |
Sales between geographic areas | 602.9 |  |  | 1,065.2 |  |  | (1,668.1) |  |  | — |
Net sales | $ | 2,568.8 |  |  | $ | 2,221.1 |  |  | $ | (894.5) |  |  | $ | 3,895.4 |
Operating income | $ | 74.2 |  |  | $ | 601.8 |  |  | $ | 29.7 |  |  | $ | 705.7 |
Long-lived assets | $ | 1,188.8 |  |  | $ | 401.7 |  |  | $ | 272.9 |  |  | $ | 1,863.4 |
2023 |  |  |  |  |  |  |
Net sales to unaffiliated customers | $ | 1,812.2 |  |  | $ | 1,041.2 |  |  | $ | 739.8 |  |  | $ | 3,593.2 |
Sales between geographic areas | 563.1 |  |  | 1,016.7 |  |  | (1,579.8) |  |  | — |
Net sales | $ | 2,375.3 |  |  | $ | 2,057.9 |  |  | $ | (840.0) |  |  | $ | 3,593.2 |
Operating income | $ | — |  |  | $ | 516.2 |  |  | $ | 16.9 |  |  | $ | 533.1 |
Long-lived assets | $ | 1,027.6 |  |  | $ | 325.9 |  |  | $ | 279.1 |  |  | $ | 1,632.6 |
2022 |  |  |  |  |  |  |
Net sales to unaffiliated customers | $ | 1,638.5 |  |  | $ | 987.2 |  |  | $ | 682.7 |  |  | $ | 3,308.4 |
Sales between geographic areas | 514.4 |  |  | 897.3 |  |  | (1,411.7) |  |  | — |
Net sales | $ | 2,152.9 |  |  | $ | 1,884.5 |  |  | $ | (729.0) |  |  | $ | 3,308.4 |
Operating (loss) income | $ | 71.8 |  |  | $ | 403.8 |  |  | $ | 32.0 |  |  | $ | 507.6 |
Long-lived assets | $ | 856.1 |  |  | $ | 310.8 |  |  | $ | 266.0 |  |  | $ | 1,432.9 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration