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Segments and Geographical Information (Tables)

6 Months Ended

Jun. 30, 2024

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,
						2024						2023						2024						2023
Net revenues
Clear Aligner						$	831,738					$	832,674					$	1,648,989					$	1,622,478
Systems and Services						196,752						169,499						376,932						322,842
Total net revenues						$	1,028,490					$	1,002,173					$	2,025,921					$	1,945,320
Gross profit
Clear Aligner						$	588,537					$	603,251					$	1,167,683					$	1,169,390
Systems and Services						134,091						110,358						252,761						204,873
Total gross profit						$	722,628					$	713,609					$	1,420,444					$	1,374,263
Income from operations
Clear Aligner						$	299,626					$	306,093					$	585,864					$	583,614
Systems and Services						70,790						52,049						120,483						87,625
Unallocated corporate expenses						(223,370)						(186,211)						(405,166)						(365,792)
Total income from operations						$	147,046					$	171,931					$	301,181					$	305,447
Stock-based compensation
Clear Aligner						$	8,619					$	4,491					$	12,383					$	9,145
Systems and Services						421						263						780						584
Unallocated corporate expenses						37,988						33,106						72,653						65,866
Total stock-based compensation						$	47,028					$	37,860					$	85,816					$	75,595
Depreciation and amortization
Clear Aligner						$	16,623					$	16,590					$	31,056					$	32,988
Systems and Services						8,070						7,743						14,908						15,889
Unallocated corporate expenses						11,473						11,486						23,148						22,762
Total depreciation and amortization						$	36,166					$	35,819					$	69,112					$	71,639

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,
						2024						2023						2024						2023
Total segment income from operations						$	370,416					$	358,142					$	706,347					$	671,239
Unallocated corporate expenses						(223,370)						(186,211)						(405,166)						(365,792)
Total income from operations						147,046						171,931						301,181						305,447
Interest income						3,301						4,421						7,693						6,758
Other income (expense), net						(6,481)						(4,763)						(6,622)						(5,992)
Net income before provision for income taxes						$	143,866					$	171,589					$	302,252					$	306,213

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,
						2024						2023						2024						2023
Net revenues 1:
U.S.						$	438,533					$	429,598					$	870,634					$	840,736
Switzerland						270,946						341,006						522,704						654,137
Other International						319,011						231,569						632,583						450,447
Total net revenues						$	1,028,490					$	1,002,173					$	2,025,921					$	1,945,320

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, 2024						December 31, 2023
Long-lived assets 1:
Switzerland						$	569,955					$	575,432
U.S.						211,373						210,275
Other International						618,672						623,155
Total long-lived assets						$	1,400,000					$	1,408,862

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
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

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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
-Name Accounting Standards Codification
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-Publisher FASB
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