XML 30 R19.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Business Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
Business Segment Information | 8. Business Segment Information The Company's CEO is the chief operating decision maker. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. We exclude from segment expenses and segment operating income (loss) certain corporate-related expenses and certain transactions or adjustments, such as costs related to restructuring actions, acquisition and related integration expenses, amortization of acquired intangible assets, and costs associated with our global information technology transition initiatives. The Company's intersegment sales and transfers are accounted for at discounted market-based prices based on intersegment agreements. The chief operating decision maker uses segment operating income (loss) to assess the performance for each segment by comparing the results of each segment with one another, comparing actual results to budget and prior year, as well as to allocate resources. The following tables present segment results for the years ended December 31, 2024, 2023 and 2022 (in millions):
|  | Year Ended December 31, 2024 |
|  | BSI BioSpin |  |  | BSI CALID |  |  | BSI NANO |  |  | BEST |  |  | Total |
Segment revenue from external customers |  | $ | 905.7 |  |  | $ | 1,093.5 |  |  | $ | 1,098.3 |  |  | $ | 268.9 |  |  | $ | 3,366.4 |
Intersegment revenue |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14.1 |  |  |  | 14.1 |
Total segment revenue |  | $ | 905.7 |  |  | $ | 1,093.5 |  |  | $ | 1,098.3 |  |  | $ | 283.0 |  |  | $ | 3,380.5 |
Segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 437.7 |  |  | $ | 465.4 |  |  | $ | 518.9 |  |  | $ | 222.5 |  |  | $ | 1,644.5 |
Selling, general and administrative |  |  | 158.9 |  |  |  | 270.2 |  |  |  | 290.8 |  |  |  | 21.5 |  |  |  | 741.4 |
Research and development |  |  | 92.5 |  |  |  | 111.7 |  |  |  | 164.7 |  |  |  | 3.9 |  |  |  | 372.8 |
Segment Operating income |  | $ | 216.6 |  |  | $ | 246.2 |  |  | $ | 123.9 |  |  | $ | 35.1 |  |  | $ | 621.8 |
Reconciliation of Total operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate, elimination and other (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 103.8 |
Unallocated expenses (b) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 264.9 |
Total consolidated operating income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 253.1 |
Interest and other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (46.2 | )
Income before income taxes, equity in income (losses) of unconsolidated investees, net of tax, and noncontrolling interests in consolidated subsidiaries |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 206.9 |
|  | Year Ended December 31, 2023 |
|  | BSI BioSpin |  |  | BSI CALID |  |  | BSI NANO |  |  | BEST |  |  | Total |
Revenue |  | $ | 798.5 |  |  | $ | 960.4 |  |  | $ | 941.9 |  |  | $ | 263.7 |  |  | $ | 2,964.5 |
Intersegment revenue |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 17.0 |  |  |  | 17.0 |
Total segment revenue |  | $ | 798.5 |  |  | $ | 960.4 |  |  | $ | 941.9 |  |  | $ | 280.7 |  |  | $ | 2,981.5 |
Segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 374.8 |  |  | $ | 393.2 |  |  | $ | 438.2 |  |  | $ | 225.9 |  |  | $ | 1,432.1 |
Selling, general and administrative |  |  | 134.7 |  |  |  | 238.7 |  |  |  | 228.0 |  |  |  | 19.3 |  |  |  | 620.7 |
Research and development |  |  | 77.8 |  |  |  | 96.4 |  |  |  | 117.3 |  |  |  | 3.0 |  |  |  | 294.5 |
Segment Operating income |  | $ | 211.2 |  |  | $ | 232.1 |  |  | $ | 158.4 |  |  | $ | 32.5 |  |  | $ | 634.2 |
Reconciliation of Total operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate, elimination and other (a) |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 87.9 |
Unallocated expenses (b) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 109.4 |
Total consolidated operating income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 436.9 |
Interest and other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 107.3 |
Income before income taxes, equity in income (losses) of unconsolidated investees, net of tax, and noncontrolling interests in consolidated subsidiaries |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 544.2 |
|  | Year Ended December 31, 2022 |
|  | BSI BioSpin |  |  | BSI CALID |  |  | BSI NANO |  |  | BEST |  |  | Total |
Revenue |  | $ | 696.7 |  |  | $ | 822.2 |  |  | $ | 787.0 |  |  | $ | 224.8 |  |  | $ | 2,530.7 |
Intersegment revenue |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12.3 |  |  |  | 12.3 |
Total segment revenue |  | $ | 696.7 |  |  | $ | 822.2 |  |  | $ | 787.0 |  |  | $ | 237.1 |  |  | $ | 2,543.0 |
Segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 320.6 |  |  | $ | 330.8 |  |  | $ | 373.2 |  |  | $ | 186.2 |  |  | $ | 1,210.8 |
Selling, general and administrative |  |  | 121.0 |  |  |  | 200.0 |  |  |  | 185.2 |  |  |  | 18.0 |  |  |  | 524.2 |
Research and development |  |  | 67.4 |  |  |  | 75.0 |  |  |  | 90.5 |  |  |  | 2.5 |  |  |  | 235.4 |
Segment Operating income |  | $ | 187.7 |  |  | $ | 216.4 |  |  | $ | 138.1 |  |  | $ | 30.4 |  |  | $ | 572.6 |
Reconciliation of Total operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate, elimination and other (a) |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 67.0 |
Unallocated costs (b) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 72.9 |
Total consolidated operating income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 432.7 |
Interest and other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (18.8 | )
Income before income taxes, equity in income (losses) of unconsolidated investees, net of tax, and noncontrolling interests in consolidated subsidiaries |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 413.9 |
a) Represents c orporate costs and intersegment eliminations not allocated to the reportable segments. Unallocated costs include general and administrative expenses not directly incurred by the segments such as professional fees incurred for the quarterly reviews and annual audit of the consolidated financial statements, personnel costs of corporate accounting, finance, legal and IT resources, and other expense items. b) Unallocated expenses consist of costs related to restructuring actions, acquisition and related integration expenses, amortization of acquired intangible assets, costs associated with our global information technology transition initiatives, and other costs Refer to Note 7, Revenue for information on revenue by geographical area. Total assets by segment are as follows for the years ended December 31, (in millions):
|  | 2024 |  |  | 2023 |
BSI BioSpin, BSI CALID, BSI NANO & Corporate |  | $ | 5,648.4 |  |  | $ | 4,110.6 |
BEST |  |  | 199.8 |  |  |  | 186.0 |
Eliminations and other (a) |  |  | (41.5 | ) |  |  | (46.7 | )
Total assets |  | $ | 5,806.7 |  |  | $ | 4,249.9 |
a) Assets not allocated to the reportable segments and eliminations of intercompany transactions. The Company is unable, without unreasonable effort or expense, to disclose the amount of total assets by the BSI BioSpin, BSI CALID and BSI NANO Segments as well as the Corporate function and further, the Company’s chief operating decision maker does not receive long-lived asset information individually by these reportable segments and Corporate. Long-lived assets (which include property, plant and equipment, net and operating lease right of use assets) by geographical area are as follows for the years ended December 31, (in millions):
|  | 2024 |  |  | 2023 |  |  | 2022 |
Germany |  | $ | 370.0 |  |  | $ | 350.2 |  |  | $ | 309.6 |
United States |  |  | 188.0 |  |  |  | 124.9 |  |  |  | 58.8 |
Switzerland |  |  | 134.1 |  |  |  | 127.0 |  |  |  | 98.5 |
Rest of Europe |  |  | 91.8 |  |  |  | 57.4 |  |  |  | 42.5 |
Asia Pacific |  |  | 22.2 |  |  |  | 22.1 |  |  |  | 22.1 |
Other |  |  | 8.7 |  |  |  | 9.8 |  |  |  | 6.7 |
Total long-lived assets |  | $ | 814.8 |  |  | $ | 691.4 |  |  | $ | 538.2 |
Total capital expenditures and depreciation and amortization by segment are presented below for the years ended December 31, (in millions):
|  | 2024 |  |  | 2023 |  |  | 2022 |
Capital Expenditures: |  |  |  |  |  |  |  |  |
BSI BioSpin |  | $ | 22.8 |  |  | $ | 23.9 |  |  | $ | 14.5 |
BSI CALID |  |  | 34.1 |  |  |  | 31.4 |  |  |  | 33.9 |
BSI NANO |  |  | 19.3 |  |  |  | 13.9 |  |  |  | 20.2 |
Corporate |  |  | 14.8 |  |  |  | 10.2 |  |  |  | 9.1 |
BEST |  |  | 24.3 |  |  |  | 27.5 |  |  |  | 51.5 |
Total capital expenditures |  | $ | 115.3 |  |  | $ | 106.9 |  |  | $ | 129.2 |
Depreciation and Amortization: |  |  |  |  |  |  |  |  |
BSI BioSpin |  | $ | 41.0 |  |  | $ | 25.7 |  |  | $ | 22.6 |
BSI CALID |  |  | 67.0 |  |  |  | 29.3 |  |  |  | 20.7 |
BSI NANO |  |  | 61.7 |  |  |  | 48.0 |  |  |  | 35.6 |
Corporate |  |  | 5.7 |  |  |  | 4.7 |  |  |  | 3.9 |
BEST |  |  | 8.4 |  |  |  | 7.2 |  |  |  | 6.0 |
Total depreciation and amortization |  | $ | 183.8 |  |  | $ | 114.9 |  |  | $ | 88.8 |

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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration