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Segment financial information
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Segment financial information
3.    Segment financial information
We report three geographic segments based on customer location: Americas, Europe and AMEA. Each segment manufactures and distributes solutions for the biopharmaceutical, healthcare, education & government and advanced technologies & applied materials industries. Corporate costs are managed on a standalone basis and not allocated to segments.
The following table presents information by reportable segment:
(in millions)
Three months ended March 31,
2023
2022
Net sales:
Americas$1,032.0 $1,143.4 
Europe630.2 680.4 
AMEA118.1 126.6 
Total$1,780.3 $1,950.4 
Adjusted EBITDA:
Americas$240.4 $294.2 
Europe121.7 143.4 
AMEA33.5 29.3 
Corporate(49.4)(43.8)
Total$346.2 $423.1 
The amounts above exclude inter-segment activity because it is not material. All of the net sales for each segment are from external customers.
The following table presents the reconciliation of Adjusted EBITDA from net income, the nearest measurement under GAAP:
(in millions)
Three months ended March 31,
2023
2022
Net income
$121.5 $190.4 
Interest expense73.7 64.8 
Income tax expense
34.3 51.4 
Depreciation and amortization101.1 114.5 
Loss on extinguishment of debt2.3 1.8 
Net foreign currency (gain) loss from financing activities
(0.2)0.1 
Other stock-based compensation expense (benefit)
0.1 (1.3)
Integration-related expenses1
8.7 3.9 
Purchase accounting adjustments2
— (4.4)
Restructuring and severance charges3
4.7 1.9 
Adjusted EBITDA$346.2 $423.1 
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1.Represents non-recurring direct costs incurred with third parties and the accrual of a long-term retention incentive to integrate acquired companies. These expenses represent incremental costs and are unrelated to
normal operations of our business. Integration expenses are incurred over a pre-defined integration period specific to each acquisition.
2.Represents the non-cash reduction of contingent consideration related to the Ritter acquisition.
3.Reflects the incremental expenses incurred in the period related to initiatives to increase profitability and productivity. Typical costs included in this caption are employee severance, site-related exit costs, and contract termination costs.
The following table presents net sales by product line:
(in millions)
Three months ended March 31,
2023
2022
Proprietary materials & consumables$669.1 $748.0 
Third party materials & consumables648.0 724.7 
Services & specialty procurement231.8 235.0 
Equipment & instrumentation231.4 242.7 
Total$1,780.3 $1,950.4