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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 
 20211,400.8 1,515.9 5.8 
20201,231.8 1,305.2 8.6 
Depreciation and amortization2022$57.9 $79.4 $— 
202154.8 82.8 — 
202050.5 88.1 — 
Operating profit (loss)2022$266.8 $217.7 $(1.9)
 2021319.7 181.8 (1.2)
2020282.6 138.3 0.4 
Segment assets2022$269.9 $448.8 $0.6 
2021207.7 363.5 1.0 
2020220.6 401.2 0.5 

The following reconciles total operating profit to consolidated income before taxes (in millions):
Year Ended December 31,
 202220212020
Total operating profit$482.6 $500.3 $421.3 
Interest expense(38.1)(1.5)(21.9)
Foreign currency exchange gains (losses), net0.2 (2.7)(1.7)
Gains (losses) from change in fair market value of equity securities and loan receivable(5,193.6)4,926.2 4,495.8 
Other income, net44.6 26.8 24.5 
Consolidated income (loss) before income taxes$(4,704.3)$5,449.1 $4,918.0 

The following reconciles total segment assets to consolidated total assets (in millions):
 December 31,
 20222021
Total segment assets$719.3 $572.2 
Cash, short-term investments and other current assets2,438.7 1,418.3 
Property, plant and equipment, net, and operating lease right-of-use assets679.6 716.4 
Goodwill, net406.5 347.3 
Other long-term assets9,257.6 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,
 202220212020
United States1,155.5 $1,130.6 $1,004.8 
Europe$851.9 946.9 857.7 
Asia639.4 688.4 546.5 
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,
 20222021
United States465.7 $478.7 
Europe$183.7 211.4 
Asia63.8 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