Segments and Geographical Information (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Segment Reporting Information, by Segment

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


	Year Ended December 31,
	2023		2022		2021
Net revenues

Clear Aligner	$	3,199,329	$	3,072,585	$	3,247,080
Systems and Services	662,931		662,050		705,504



Total net revenues	$	3,862,260	$	3,734,635	$	3,952,584
Gross profit
Clear Aligner	$	2,288,038	$	2,228,170	$	2,474,373
Systems and Services	418,825		405,605		460,982
Total gross profit	$	2,706,863	$	2,633,775	$	2,935,355
Income from operations
Clear Aligner	$	1,182,257	$	1,134,420	$	1,325,866
Systems and Services	191,355		179,765		259,127
Unallocated corporate expenses	(730,274)		(671,590)		(608,593)
Total income from operations	$	643,338	$	642,595	$	976,400
Stock-based compensation
Clear Aligner	$	13,963	$	14,816	$	10,648
Systems and Services	1,293		994		705
Unallocated corporate expenses	138,770		117,557		102,983
Total stock-based compensation	$	154,026	$	133,367	$	114,336
Depreciation and amortization
Clear Aligner	$	64,781	$	57,888	$	50,723
Systems and Services	31,518		28,300		21,581
Unallocated corporate expenses	46,102		39,605		36,425
Total depreciation and amortization	$	142,401	$	125,793	$	108,729

The following table reconciles total segment income from operations in the table above to net income before provision for (benefit from) income taxes (in thousands):


	Year Ended December 31,
	2023		2022		2021
Total segment income from operations	$	1,373,612	$	1,314,185	$	1,584,993
Unallocated corporate expenses	(730,274)		(671,590)		(608,593)
Total income from operations	643,338		642,595		976,400
Interest income	17,258		5,367		3,103
Other income (expense), net	(19,392)		(48,905)		32,920
Net income before provision for (benefit from) income taxes	$	641,204	$	599,057	$	1,012,423

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Net revenues are presented below by geographic area (in thousands):


	Year Ended December 31,
	2023		2022		2021
Net revenues 1:
U.S.	$	1,665,925	$	1,660,045	$	1,724,296
Switzerland	1,168,320		1,216,094		1,353,229
Other International	1,028,015		858,496		875,059
Total net revenues	$	3,862,260	$	3,734,635	$	3,952,584

1 Net revenues are attributed to countries based on the location of where revenues are recognized by our legal entities.

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):


	December 31,
	2023		2022
Long-lived assets 1:
Switzerland	$	575,432	$	532,921
U.S.	210,275		214,804
Other International	623,155		603,010
Total long-lived assets	$	1,408,862	$	1,350,735

1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.