XML 84 R21.htm IDEA: XBRL DOCUMENT
v2.4.1.9

14. Segment Reporting | 12 Months Ended
--- | ---
Dec. 31, 2014
Segment Reporting [Abstract] |
Segment Information | 14. SEGMENT INFORMATION Bio-Rad is a multinational manufacturer and worldwide distributor of its own life science research products and clinical diagnostics products. We have two reportable segments: Life Science and Clinical Diagnostics. These reportable segments are strategic business lines that offer more than 8,000 different products and services and require different marketing strategies. We do not disclose quantitative information about our different products and services as it is impractical to do so based primarily on the numerous products and services that we sell and the global markets that we serve. The Life Science segment develops, manufactures, sells and services reagents, apparatus and instruments used for biological research. These products are sold to university and medical school laboratories, pharmaceutical and biotechnology companies, food testing laboratories and government and industrial research facilities. The Clinical Diagnostics segment develops, manufactures, sells and services automated test systems, informatics systems, test kits and specialized quality controls for the healthcare market. These products are sold to reference laboratories, hospital laboratories, state newborn screening facilities, physicians’ office laboratories, transfusion laboratories and insurance and forensic testing laboratories. Other Operations include the remainder of our former Analytical Instruments segment. Segment results are presented in the same manner as we present our operations internally to make operating decisions and assess performance. The accounting policies of the segments are the same as those described in Significant Accounting Policies (see Note 1). Segment profit or loss includes an allocation of corporate expense based upon sales and an allocation of interest expense based upon accounts receivable and inventories. The difference between total segment allocated interest expense, depreciation and amortization, and capital expenditures and the corresponding consolidated amounts is attributable to our corporate headquarters. Segments are expected to manage only assets completely under their control. Accordingly, segment assets include primarily accounts receivable, inventories and gross machinery and equipment. Goodwill balances have been included in corporate for segment reporting purposes. Information regarding industry segments at December 31, 2014, 2013, and 2012 and for the years then ended is as follows (in millions):
|  |  | Life Science |  | Clinical Diagnostics |  | Other Operations
Segment net sales | 2014 |  | $ | 728.3 |  |  | $ | 1,432.3 |  |  | $ | 14.4 |
| 2013 |  | 710.0 |  |  | 1,408.0 |  |  | 14.7 |
| 2012 |  | 688.4 |  |  | 1,365.5 |  |  | 15.3 |
Allocated interest expense | 2014 |  | $ | 5.5 |  |  | $ | 15.9 |  |  | $ | 0.1 |
| 2013 |  | 10.4 |  |  | 30.1 |  |  | 0.1 |
| 2012 |  | 13.4 |  |  | 37.8 |  |  | 0.2 |
Depreciation and amortization | 2014 |  | $ | 33.2 |  |  | $ | 95.8 |  |  | $ | — |
| 2013 |  | 32.6 |  |  | 91.5 |  |  | 0.1 |
| 2012 |  | 26.3 |  |  | 92.9 |  |  | 0.1 |
Segment (loss) profit | 2014 |  | $ | (14.7 | ) |  | $ | 167.1 |  |  | $ | 1.2 |
| 2013 |  | (13.7 | ) |  | 176.2 |  |  | 1.1 |
| 2012 |  | 13.2 |  |  | 202.6 |  |  | 1.6 |
Segment assets | 2014 |  | $ | 361.5 |  |  | $ | 884.9 |  |  | $ | 4.8 |
| 2013 |  | 389.1 |  |  | 980.9 |  |  | 5.1 |
Capital expenditures | 2014 |  | $ | 14.1 |  |  | $ | 60.1 |  |  | $ | — |
| 2013 |  | 19.8 |  |  | 66.5 |  | (1) | 0.2 |
(1) Amount revised, see Note 1 "Correction of Immaterial Errors"
Net corporate operating expense consists of receipts and expenditures that are not the primary responsibility of segment operating management and therefore are not allocated to the segments for performance assessment by our chief operating decision maker. In 2014 and 2013, this included the accrual of $20.1 million and $35.0 million, respectively, in connection with our resolutions of the SEC and DOJ investigations relating to the FCPA (see Note 13). In 2013, this also included the $15.6 million expense for the redemption of our 8.0% Senior Subordinated Notes (see Note 5). The following reconciles total segment profit to consolidated income before taxes (in millions):
| Year Ended December 31,
| 2014 |  | 2013 |  | 2012
Total segment profit | $ | 153.6 |  |  | $ | 163.6 |  |  | $ | 217.4 |
Foreign exchange losses | (9.3 | ) |  | (8.6 | ) |  | (5.0 | )
Net corporate operating, interest and other expense, net not allocated to segments | (25.7 | ) |  | (55.4 | ) |  | (4.4 | )
Other income (expense), net | 13.0 |  |  | 12.8 |  |  | 21.9 |
Consolidated income before taxes | $ | 131.6 |  |  | $ | 112.4 |  |  | $ | 229.9 |
The following reconciles total segment assets to consolidated total assets (in millions):
|  | December 31, |
|  | 2014 |  | 2013 |
Total segment assets |  | $ | 1,251.2 |  |  | $ | 1,375.1 |  |
Cash and other current assets |  | 888.1 |  |  | 829.8 |  | (1)
Property, plant and equipment, net, excluding |  |  |  |  |
segment specific gross machinery and equipment |  | 26.7 |  |  | (14.9 | ) |
Goodwill, net |  | 500.4 |  |  | 517.8 |  |
Other long-term assets |  | 674.9 |  |  | 681.0 |  | (1)
Total assets |  | $ | 3,341.3 |  |  | $ | 3,388.8 |  |
(1) Amounts revised, see Note 1 "Correction of Immaterial Errors" |
The following presents net sales to external customers by geographic region based primarily on the location of the use of the product or service (in millions):
|  | Year Ended December 31,
|  | 2014 |  | 2013 |  | 2012
Europe |  | $ | 901.7 |  |  | $ | 886.1 |  |  | $ | 837.0 |
Pacific Rim |  | 417.5 |  |  | 413.3 |  |  | 425.7 |
United States |  | 704.9 |  |  | 677.7 |  |  | 656.7 |
Other (primarily Canada and Latin America) |  | 150.9 |  |  | 155.6 |  |  | 149.8 |
Total net sales |  | $ | 2,175.0 |  |  | $ | 2,132.7 |  |  | $ | 2,069.2 |
The following presents Property, plant and equipment, net, Other investments and other assets, excluding deferred income taxes, by geographic region based upon the location of the asset (in millions):
|  | December 31, |
|  | 2014 |  | 2013 | (1)
Europe |  | $ | 194.5 |  |  | $ | 210.5 |  |
Pacific Rim |  | 19.0 |  |  | 22.4 |  |
United States |  | 623.8 |  |  | 584.4 |  |
Other (primarily Canada and Latin America) |  | 12.1 |  |  | 12.0 |  |
Total Property, plant and equipment, net, Other investments and other assets, excluding deferred income taxes |  | $ | 849.4 |  |  | $ | 829.3 |  |
(1) Amounts revised, see Note 1 "Correction of Immaterial Errors" |

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration