XML 37 R22.htm IDEA: XBRL DOCUMENT
v3.22.4

14. Segment Reporting | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Segment Information | 15. 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 12,000 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 and transfusion laboratories. Other Operations include our Analytical Instruments segment, and a small miscellaneous operation that was included in a prior acquisition. 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). Our chief operating decision maker ("CODM") views all operating expenses including depreciation and amortization and corporate overhead as directly supporting the strategies of our segments and these costs are fully allocated to our reportable segments. The CODM evaluates the performance of our segments and allocates resources primarily based on operating income, which represents revenues reduced by product costs and operating expenses. Starting in 2022, segment assets include net inventories as this is the only asset considered to be under the control of the segment and the only asset for which segment information is provided to the CODM. The historical segment information has been recast to conform to the current methodology. The following segments information regarding industry segments at December 31, 2021 and 2020 have been revised to correct for immaterial errors in prior periods as described in Note 1, “Immaterial Correction to Previously Issued Financial Statements.” Information regarding industry segments at December 31, 2022, 2021, and 2020 and for the years then ended is as follows (in millions):
|  |  | Life Science |  | Clinical Diagnostics |  | Other Operations
Net sales | 2022 |  | $ | 1,347.2 |  |  | $ | 1,451.0 |  |  | $ | 4.0 |
| 2021 |  | 1,400.8 |  |  | 1,515.9 |  |  | 5.8 |
| 2020 |  | 1,231.8 |  |  | 1,305.2 |  |  | 8.6 |
Depreciation and amortization | 2022 |  | $ | 57.9 |  |  | $ | 79.4 |  |  | $ | — |
| 2021 |  | 54.8 |  |  | 82.8 |  |  | — |
| 2020 |  | 50.5 |  |  | 88.1 |  |  | — |
Operating profit (loss) | 2022 |  | $ | 266.8 |  |  | $ | 217.7 |  |  | $ | (1.9) |
| 2021 |  | 319.7 |  |  | 181.8 |  |  | (1.2) |
| 2020 |  | 282.6 |  |  | 138.3 |  |  | 0.4 |
Segment assets | 2022 |  | $ | 269.9 |  |  | $ | 448.8 |  |  | $ | 0.6 |
| 2021 |  | 207.7 |  |  | 363.5 |  |  | 1.0 |
| 2020 |  | 220.6 |  |  | 401.2 |  |  | 0.5 |
The following reconciles total operating profit to consolidated income before taxes (in millions):
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Total operating profit | $ | 482.6 |  |  | $ | 500.3 |  |  | $ | 421.3 |
Interest expense | (38.1) |  |  | (1.5) |  |  | (21.9) |
Foreign currency exchange gains (losses), net | 0.2 |  |  | (2.7) |  |  | (1.7) |
Gains (losses) from change in fair market value of equity securities and loan receivable | (5,193.6) |  |  | 4,926.2 |  |  | 4,495.8 |
Other income, net | 44.6 |  |  | 26.8 |  |  | 24.5 |
Consolidated income (loss) before income taxes | $ | (4,704.3) |  |  | $ | 5,449.1 |  |  | $ | 4,918.0 |
The following reconciles total segment assets to consolidated total assets (in millions):
|  | December 31,
|  | 2022 |  | 2021
Total segment assets |  | $ | 719.3 |  |  | $ | 572.2 |
Cash, short-term investments and other current assets |  | 2,438.7 |  |  | 1,418.3 |
Property, plant and equipment, net, and operating lease right-of-use assets |  | 679.6 |  |  | 716.4 |
Goodwill, net |  | 406.5 |  |  | 347.3 |
Other long-term assets |  | 9,257.6 |  |  | 14,745.2 |
Total assets |  | $ | 13,501.7 |  |  | $ | 17,799.4 |
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,
|  | 2022 |  | 2021 |  | 2020
United States |  | 1,155.5 |  |  | $ | 1,130.6 |  |  | $ | 1,004.8 |
Europe |  | $ | 851.9 |  |  | 946.9 |  |  | 857.7 |
Asia |  | 639.4 |  |  | 688.4 |  |  | 546.5 |
Other (primarily Canada and Latin America) |  | 155.4 |  |  | 156.6 |  |  | 136.6 |
Total net sales |  | $ | 2,802.2 |  |  | $ | 2,922.5 |  |  | $ | 2,545.6 |
The following presents Property, plant and equipment, net, Operating lease right-of-use assets and Other assets, excluding deferred income taxes, by geographic region based upon the location of the asset (in millions):
|  | December 31,
|  | 2022 |  | 2021
United States |  | 465.7 |  |  | $ | 478.7 |
Europe |  | $ | 183.7 |  |  | 211.4 |
Asia |  | 63.8 |  |  | 64.9 |
Other (primarily Canada and Latin America) |  | 15.6 |  |  | 16.5 |
Total Property, plant and equipment, net, Operating lease right-of-use assets and Other assets, excluding deferred income taxes |  | $ | 728.8 |  |  | $ | 771.5 |

X
- References No definition available. + 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration