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Segments and Geographical Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summarized financial information by segment is as follows (in thousands):

						Three Months Ended June 30,												Six Months Ended June 30,
						2022						2021						2022						2021
Net revenues
Clear Aligner						$	798,398					$	840,959					$	1,608,094					$	1,594,228
Systems and Services						171,155						169,849						334,678						311,351
Total net revenues						$	969,553					$	1,010,808					$	1,942,772					$	1,905,579
Gross profit
Clear Aligner						$	585,245					$	646,665					$	1,190,941					$	1,231,199
Systems and Services						102,314						111,873						205,964						204,437
Total gross profit						$	687,559					$	758,538					$	1,396,905					$	1,435,636
Income from operations
Clear Aligner						$	307,209					$	347,626					$	619,928					$	675,091
Systems and Services						45,599						64,675						96,398						111,903
Unallocated corporate expenses						(164,612)						(143,399)						(330,048)						(292,646)
Total income from operations						$	188,196					$	268,902					$	386,278					$	494,348
Stock-based compensation
Clear Aligner						$	3,001					$	2,632					$	5,855					$	4,926
Systems and Services						236						174						450						345
Unallocated corporate expenses						30,903						26,049						59,456						50,825
Total stock-based compensation						$	34,140					$	28,855					$	65,761					$	56,096
Depreciation and amortization
Clear Aligner						$	14,029					$	12,170					$	27,796					$	23,290
Systems and Services						6,776						4,622						13,698						9,167
Unallocated corporate expenses						9,476						9,100						18,413						19,070
Total depreciation and amortization						$	30,281					$	25,892					$	59,907					$	51,527

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 June 30,												Six Months Ended June 30,
						2022						2021						2022						2021
Total segment income from operations						$	352,808					$	412,301					$	716,326					$	786,994
Unallocated corporate expenses						(164,612)						(143,399)						(330,048)						(292,646)
Total income from operations						188,196						268,902						386,278						494,348
Interest income						245						383						922						2,026
Other income (expense), net						(14,832)						(483)						(26,105)						34,049
Net income before provision for income taxes						$	173,609					$	268,802					$	361,095					$	530,423

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 June 30,												Six Months Ended June 30,
						2022						2021						2022						2021
Net revenues 1:
U.S.						$	430,053					$	434,398					$	850,973					$	817,400
Switzerland						330,351						366,334						662,090						681,784
Other International						209,149						210,076						429,709						406,395
Total net revenues						$	969,553					$	1,010,808					$	1,942,772					$	1,905,579

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):

						June 30, 2022						December 31, 2021
Long-lived assets 1:
Switzerland						$	499,626					$	444,205
U.S.						212,071						210,582
China						123,180						125,346
Other International						465,479						423,050
Total long-lived assets						$	1,300,356					$	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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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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

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