XML 38 R28.htm IDEA: XBRL DOCUMENT
v3.22.1

Segments and Geographical Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Summarized financial information by segment is as follows (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2022 |  | 2021 |  |  |  |
Net revenues |  |  |  |  |  |  |  |
Clear Aligner |  | $ | 809,696 |  |  | $ | 753,269 |  |  |  |  |
Systems and Services |  | 163,523 |  |  | 141,502 |  |  |  |  |
Total net revenues |  | $ | 973,219 |  |  | $ | 894,771 |  |  |  |  |
Gross profit |  |  |  |  |  |  |  |
Clear Aligner |  | $ | 605,696 |  |  | $ | 584,534 |  |  |  |  |
Systems and Services |  | 103,650 |  |  | 92,564 |  |  |  |  |
Total gross profit |  | $ | 709,346 |  |  | $ | 677,098 |  |  |  |  |
Income from operations |  |  |  |  |  |  |  |
Clear Aligner |  | $ | 312,719 |  |  | $ | 327,465 |  |  |  |  |
Systems and Services |  | 50,799 |  |  | 47,228 |  |  |  |  |
Unallocated corporate expenses |  | (165,436) |  |  | (149,247) |  |  |  |  |
Total income from operations |  | $ | 198,082 |  |  | $ | 225,446 |  |  |  |  |
Stock-based compensation |  |  |  |  |  |  |  |
Clear Aligner |  | $ | 2,854 |  |  | $ | 2,294 |  |  |  |  |
Systems and Services |  | 214 |  |  | 171 |  |  |  |  |
Unallocated corporate expenses |  | 28,553 |  |  | 24,776 |  |  |  |  |
Total stock-based compensation |  | $ | 31,621 |  |  | $ | 27,241 |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |
Clear Aligner |  | $ | 13,767 |  |  | $ | 11,120 |  |  |  |  |
Systems and Services |  | 6,922 |  |  | 4,545 |  |  |  |  |
Unallocated corporate expenses |  | 8,937 |  |  | 9,970 |  |  |  |  |
Total depreciation and amortization |  | $ | 29,626 |  |  | $ | 25,635 |  |  |  |  |
The following table reconciles total segment income from operations in the table above to net income before provision for income taxes (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2022 |  | 2021 |  |  |  |
Total segment income from operations |  | $ | 363,518 |  |  | $ | 374,693 |  |  |  |  |
Unallocated corporate expenses |  | (165,436) |  |  | (149,247) |  |  |  |  |
Total income from operations |  | 198,082 |  |  | 225,446 |  |  |  |  |
Interest income |  | 677 |  |  | 1,643 |  |  |  |  |
Other income (expense), net |  | (11,273) |  |  | 34,532 |  |  |  |  |
Net income before provision for income taxes |  | $ | 187,486 |  |  | $ | 261,621 |  |  |  |  |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | Net revenues are presented below by geographic area (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2022 |  | 2021 |  |  |  |
Net revenues 1: |  |  |  |  |  |  |  |
U.S. |  | $ | 420,920 |  |  | $ | 383,002 |  |  |  |  |
Switzerland |  | 331,739 |  |  | 315,450 |  |  |  |  |
Other International |  | 220,560 |  |  | 196,319 |  |  |  |  |
Total net revenues |  | $ | 973,219 |  |  | $ | 894,771 |  |  |  |  |
1 Net revenues are attributed to countries based on the location of where revenues are recognized by our legal entities. Tangible long-lived assets, which includes Property, plant and equipment, net, and Operating lease right-of-use assets, net, are presented below by geographic area (in thousands):
|  | March 31, 2022 |  | December 31, 2021
Long-lived assets 1: |  |  |  |
Switzerland |  | $ | 477,312 |  |  | $ | 444,205 |
U.S. |  | 209,220 |  |  | 210,582 |
China |  | 126,623 |  |  | 125,346 |
Other International |  | 453,019 |  |  | 423,050 |
Total long-lived assets |  | $ | 1,266,174 |  |  | $ | 1,203,183 |
1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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