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Segments and Geographical Information (Tables)

9 Months Ended

Sep. 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 September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Net revenues
Clear Aligner						$	786,844					$	794,939					$	2,435,833					$	2,417,417
Systems and Services						191,028						165,275						567,960						488,117
Total net revenues						$	977,872					$	960,214					$	3,003,793					$	2,905,534
Gross profit
Clear Aligner						$	552,841					$	562,331					$	1,720,524					$	1,731,721
Systems and Services						128,933						100,745						381,694						305,618
Total gross profit						$	681,774					$	663,076					$	2,102,218					$	2,037,339
Income from operations
Clear Aligner						$	276,319					$	296,319					$	862,183					$	879,933
Systems and Services						68,744						44,975						189,227						132,600
Unallocated corporate expenses						(182,765)						(174,948)						(587,931)						(540,740)
Total income from operations						$	162,298					$	166,346					$	463,479					$	471,793
Stock-based compensation
Clear Aligner						$	7,648					$	5,772					$	20,031					$	14,917
Systems and Services						427						366						1,207						950
Unallocated corporate expenses						40,964						33,464						113,617						99,330
Total stock-based compensation						$	49,039					$	39,602					$	134,855					$	115,197
Depreciation and amortization
Clear Aligner						$	17,971					$	17,737					$	49,027					$	50,725
Systems and Services						8,099						7,827						23,007						23,716
Unallocated corporate expenses						11,723						11,466						34,871						34,228
Total depreciation and amortization						$	37,793					$	37,030					$	106,905					$	108,669

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 September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Total segment income from operations						$	345,063					$	341,294					$	1,051,410					$	1,012,533
Unallocated corporate expenses						(182,765)						(174,948)						(587,931)						(540,740)
Total income from operations						162,298						166,346						463,479						471,793
Interest income						4,003						5,522						11,696						12,280
Other income (expense), net						(371)						(9,757)						(6,993)						(15,749)
Net income before provision for income taxes						$	165,930					$	162,111					$	468,182					$	468,324

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 September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Net revenues 1:
U.S.						$	421,204					$	421,272					$	1,291,838					$	1,262,008
Switzerland						216,638						259,587						739,342						913,724
Other International						340,030						279,355						972,613						729,802
Total net revenues						$	977,872					$	960,214					$	3,003,793					$	2,905,534

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):

						September 30, 2024						December 31, 2023
Long-lived assets 1:
Switzerland						$	580,428					$	575,432
U.S.						203,772						210,275
Other International						627,306						623,155
Total long-lived assets						$	1,411,506					$	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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- 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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