0001090872-20-000010.txt : 20200601 0001090872-20-000010.hdr.sgml : 20200601 20200529201041 ACCESSION NUMBER: 0001090872-20-000010 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 109 CONFORMED PERIOD OF REPORT: 20200430 FILED AS OF DATE: 20200601 DATE AS OF CHANGE: 20200529 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AGILENT TECHNOLOGIES, INC. CENTRAL INDEX KEY: 0001090872 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] IRS NUMBER: 770518772 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-15405 FILM NUMBER: 20930390 BUSINESS ADDRESS: STREET 1: 5301 STEVENS CREEK BLVD CITY: SANTA CLARA STATE: CA ZIP: 95051 BUSINESS PHONE: (408) 345-8886 MAIL ADDRESS: STREET 1: 5301 STEVENS CREEK BLVD, MS 1A-LC STREET 2: P.O. BOX 58059 CITY: SANTA CLARA STATE: CA ZIP: 95052-8059 FORMER COMPANY: FORMER CONFORMED NAME: AGILENT TECHNOLOGIES INC DATE OF NAME CHANGE: 19990816 FORMER COMPANY: FORMER CONFORMED NAME: HP MEASUREMENT INC DATE OF NAME CHANGE: 19990716 10-Q 1 a-04302020x10q.htm 10-Q Document
0.660.660.440.440.150.150.150.15100000014000000033000000false--10-31Q220200001090872Large Accelerated FilerfalseP8YP13YP3YP5Y00000.1640.3280.1800.3600.010.01200000000020000000003090000003080000000000000090000000000098000000000P8Y1M20000006000000200000050000001000000100000010000000090000000010000001000000000.010.0112500000012500000000P0Y12M0D0.850.850.850 0001090872 2019-11-01 2020-04-30 0001090872 2020-05-22 0001090872 2020-02-01 2020-04-30 0001090872 2018-11-01 2019-04-30 0001090872 2019-02-01 2019-04-30 0001090872 us-gaap:ProductMember 2020-02-01 2020-04-30 0001090872 us-gaap:ServiceOtherMember 2020-02-01 2020-04-30 0001090872 us-gaap:ServiceOtherMember 2019-11-01 2020-04-30 0001090872 us-gaap:ProductMember 2019-02-01 2019-04-30 0001090872 us-gaap:ServiceOtherMember 2018-11-01 2019-04-30 0001090872 us-gaap:ProductMember 2018-11-01 2019-04-30 0001090872 us-gaap:ServiceOtherMember 2019-02-01 2019-04-30 0001090872 us-gaap:ProductMember 2019-11-01 2020-04-30 0001090872 2020-04-30 0001090872 2019-10-31 0001090872 2019-04-30 0001090872 2018-10-31 0001090872 us-gaap:TreasuryStockMember 2020-04-30 0001090872 us-gaap:AdditionalPaidInCapitalMember 2020-02-01 2020-04-30 0001090872 us-gaap:NoncontrollingInterestMember 2020-04-30 0001090872 us-gaap:AdditionalPaidInCapitalMember 2020-04-30 0001090872 us-gaap:AdditionalPaidInCapitalMember 2020-01-31 0001090872 us-gaap:ParentMember 2020-04-30 0001090872 us-gaap:CommonStockMember 2020-01-31 0001090872 us-gaap:TreasuryStockMember 2020-02-01 2020-04-30 0001090872 us-gaap:CommonStockMember 2020-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-04-30 0001090872 us-gaap:RetainedEarningsMember 2020-02-01 2020-04-30 0001090872 us-gaap:ParentMember 2020-02-01 2020-04-30 0001090872 us-gaap:CommonStockMember 2020-02-01 2020-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-31 0001090872 us-gaap:RetainedEarningsMember 2020-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-02-01 2020-04-30 0001090872 2020-01-31 0001090872 us-gaap:ParentMember 2020-01-31 0001090872 us-gaap:RetainedEarningsMember 2020-01-31 0001090872 us-gaap:NoncontrollingInterestMember 2020-01-31 0001090872 us-gaap:TreasuryStockMember 2020-01-31 0001090872 us-gaap:ParentMember 2019-11-01 2020-04-30 0001090872 us-gaap:TreasuryStockMember 2019-11-01 2020-04-30 0001090872 us-gaap:CommonStockMember 2019-11-01 2020-04-30 0001090872 us-gaap:CommonStockMember 2019-10-31 0001090872 us-gaap:RetainedEarningsMember 2019-10-31 0001090872 us-gaap:RetainedEarningsMember 2019-11-01 2020-04-30 0001090872 us-gaap:AdditionalPaidInCapitalMember 2019-11-01 2020-04-30 0001090872 us-gaap:NoncontrollingInterestMember 2019-10-31 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-10-31 0001090872 us-gaap:TreasuryStockMember 2019-10-31 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-11-01 2020-04-30 0001090872 us-gaap:AdditionalPaidInCapitalMember 2019-10-31 0001090872 us-gaap:ParentMember 2019-10-31 0001090872 us-gaap:TreasuryStockMember 2019-04-30 0001090872 us-gaap:ParentMember 2018-11-01 2019-04-30 0001090872 us-gaap:RetainedEarningsMember 2018-10-31 0001090872 us-gaap:AdditionalPaidInCapitalMember 2018-11-01 2019-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-10-31 0001090872 us-gaap:RetainedEarningsMember 2019-04-30 0001090872 us-gaap:RetainedEarningsMember 2018-11-01 2019-04-30 0001090872 us-gaap:NoncontrollingInterestMember 2018-10-31 0001090872 us-gaap:CommonStockMember 2018-10-31 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-30 0001090872 us-gaap:CommonStockMember 2018-11-01 2019-04-30 0001090872 us-gaap:NoncontrollingInterestMember 2018-11-01 2019-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-11-01 2019-04-30 0001090872 us-gaap:TreasuryStockMember 2018-10-31 0001090872 us-gaap:NoncontrollingInterestMember 2019-04-30 0001090872 us-gaap:ParentMember 2018-10-31 0001090872 us-gaap:TreasuryStockMember 2018-11-01 2019-04-30 0001090872 us-gaap:CommonStockMember 2019-04-30 0001090872 us-gaap:ParentMember 2019-04-30 0001090872 us-gaap:AdditionalPaidInCapitalMember 2018-10-31 0001090872 us-gaap:AdditionalPaidInCapitalMember 2019-04-30 0001090872 us-gaap:ParentMember 2019-02-01 2019-04-30 0001090872 us-gaap:TreasuryStockMember 2019-02-01 2019-04-30 0001090872 us-gaap:RetainedEarningsMember 2019-01-31 0001090872 us-gaap:AdditionalPaidInCapitalMember 2019-02-01 2019-04-30 0001090872 us-gaap:RetainedEarningsMember 2019-02-01 2019-04-30 0001090872 us-gaap:CommonStockMember 2019-01-31 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-31 0001090872 us-gaap:ParentMember 2019-01-31 0001090872 us-gaap:NoncontrollingInterestMember 2019-01-31 0001090872 us-gaap:AdditionalPaidInCapitalMember 2019-01-31 0001090872 us-gaap:TreasuryStockMember 2019-01-31 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-02-01 2019-04-30 0001090872 us-gaap:NoncontrollingInterestMember 2019-02-01 2019-04-30 0001090872 2019-01-31 0001090872 us-gaap:CommonStockMember 2019-02-01 2019-04-30 0001090872 us-gaap:AccountingStandardsUpdate201602Member 2019-11-01 0001090872 2019-11-01 0001090872 a:BioTekMember 2019-08-22 2019-08-23 0001090872 a:BioTekMember 2020-02-01 2020-04-30 0001090872 a:BioTekMember 2019-11-01 2020-04-30 0001090872 a:BioTekMember 2020-04-30 0001090872 a:ACEABiosciencesInc.Member 2018-11-14 2018-11-14 0001090872 a:BioTekMember 2019-08-23 0001090872 a:BioTekMember us-gaap:CustomerRelationshipsMember 2019-08-23 0001090872 a:BioTekMember us-gaap:TrademarksAndTradeNamesMember 2019-08-22 2019-08-23 0001090872 a:BioTekMember us-gaap:TrademarksAndTradeNamesMember 2019-08-23 0001090872 a:BioTekMember us-gaap:OrderOrProductionBacklogMember 2019-08-22 2019-08-23 0001090872 a:BioTekMember us-gaap:OrderOrProductionBacklogMember 2019-08-23 0001090872 a:BioTekMember us-gaap:DevelopedTechnologyRightsMember 2019-08-23 0001090872 srt:MaximumMember a:BioTekMember us-gaap:DevelopedTechnologyRightsMember 2019-08-22 2019-08-23 0001090872 srt:MinimumMember a:BioTekMember us-gaap:CustomerRelationshipsMember 2019-08-22 2019-08-23 0001090872 srt:MaximumMember a:BioTekMember us-gaap:CustomerRelationshipsMember 2019-08-22 2019-08-23 0001090872 srt:MinimumMember a:BioTekMember us-gaap:DevelopedTechnologyRightsMember 2019-08-22 2019-08-23 0001090872 srt:AmericasMember 2018-11-01 2019-04-30 0001090872 srt:AmericasMember a:LifeSciencesandAppliedMarketsMember 2019-11-01 2020-04-30 0001090872 srt:AsiaPacificMember a:DiagnosticsAndGenomicsMember 2018-11-01 2019-04-30 0001090872 srt:AsiaPacificMember a:DiagnosticsAndGenomicsMember 2019-11-01 2020-04-30 0001090872 srt:AsiaPacificMember 2018-11-01 2019-04-30 0001090872 srt:AsiaPacificMember a:LifeSciencesandAppliedMarketsMember 2019-11-01 2020-04-30 0001090872 srt:AmericasMember a:DiagnosticsAndGenomicsMember 2018-11-01 2019-04-30 0001090872 a:DiagnosticsAndGenomicsMember 2019-11-01 2020-04-30 0001090872 srt:EuropeMember a:DiagnosticsAndGenomicsMember 2019-11-01 2020-04-30 0001090872 srt:AmericasMember a:DiagnosticsAndGenomicsMember 2019-11-01 2020-04-30 0001090872 a:AgilentCrossLabMember 2019-11-01 2020-04-30 0001090872 srt:EuropeMember a:LifeSciencesandAppliedMarketsMember 2019-11-01 2020-04-30 0001090872 srt:AsiaPacificMember a:AgilentCrossLabMember 2019-11-01 2020-04-30 0001090872 srt:AmericasMember 2019-11-01 2020-04-30 0001090872 srt:EuropeMember a:LifeSciencesandAppliedMarketsMember 2018-11-01 2019-04-30 0001090872 a:LifeSciencesandAppliedMarketsMember 2018-11-01 2019-04-30 0001090872 a:LifeSciencesandAppliedMarketsMember 2019-11-01 2020-04-30 0001090872 srt:EuropeMember 2018-11-01 2019-04-30 0001090872 srt:AsiaPacificMember a:LifeSciencesandAppliedMarketsMember 2018-11-01 2019-04-30 0001090872 srt:EuropeMember a:AgilentCrossLabMember 2018-11-01 2019-04-30 0001090872 srt:EuropeMember a:AgilentCrossLabMember 2019-11-01 2020-04-30 0001090872 srt:AmericasMember a:LifeSciencesandAppliedMarketsMember 2018-11-01 2019-04-30 0001090872 srt:AsiaPacificMember 2019-11-01 2020-04-30 0001090872 a:DiagnosticsAndGenomicsMember 2018-11-01 2019-04-30 0001090872 srt:AmericasMember a:AgilentCrossLabMember 2018-11-01 2019-04-30 0001090872 srt:EuropeMember a:DiagnosticsAndGenomicsMember 2018-11-01 2019-04-30 0001090872 a:AgilentCrossLabMember 2018-11-01 2019-04-30 0001090872 srt:AsiaPacificMember a:AgilentCrossLabMember 2018-11-01 2019-04-30 0001090872 srt:AmericasMember a:AgilentCrossLabMember 2019-11-01 2020-04-30 0001090872 srt:EuropeMember 2019-11-01 2020-04-30 0001090872 2020-04-30 2020-04-30 0001090872 a:ChemicalandEnergyMarketMember 2020-02-01 2020-04-30 0001090872 a:ChemicalandEnergyMarketMember 2019-11-01 2020-04-30 0001090872 a:ChemicalandEnergyMarketMember 2019-02-01 2019-04-30 0001090872 a:InstrumentationMember 2020-02-01 2020-04-30 0001090872 a:DiagnosticsandClinicalMarketMember 2019-02-01 2019-04-30 0001090872 a:NonInstrumentationandOtherMember 2019-02-01 2019-04-30 0001090872 a:AcademiaandGovernmentMarketMember 2019-11-01 2020-04-30 0001090872 a:DiagnosticsandClinicalMarketMember 2018-11-01 2019-04-30 0001090872 a:InstrumentationMember 2019-02-01 2019-04-30 0001090872 a:ChemicalandEnergyMarketMember 2018-11-01 2019-04-30 0001090872 a:FoodMarketMember 2018-11-01 2019-04-30 0001090872 a:PharmaceuticalandBiopharmaceuticalMarketMember 2018-11-01 2019-04-30 0001090872 a:EnvironmentalandForensicsMarketMember 2019-11-01 2020-04-30 0001090872 a:FoodMarketMember 2019-02-01 2019-04-30 0001090872 a:DiagnosticsandClinicalMarketMember 2020-02-01 2020-04-30 0001090872 a:DiagnosticsandClinicalMarketMember 2019-11-01 2020-04-30 0001090872 a:NonInstrumentationandOtherMember 2018-11-01 2019-04-30 0001090872 a:NonInstrumentationandOtherMember 2020-02-01 2020-04-30 0001090872 a:PharmaceuticalandBiopharmaceuticalMarketMember 2019-02-01 2019-04-30 0001090872 a:AcademiaandGovernmentMarketMember 2018-11-01 2019-04-30 0001090872 a:PharmaceuticalandBiopharmaceuticalMarketMember 2019-11-01 2020-04-30 0001090872 a:EnvironmentalandForensicsMarketMember 2019-02-01 2019-04-30 0001090872 a:InstrumentationMember 2018-11-01 2019-04-30 0001090872 a:PharmaceuticalandBiopharmaceuticalMarketMember 2020-02-01 2020-04-30 0001090872 a:FoodMarketMember 2020-02-01 2020-04-30 0001090872 a:EnvironmentalandForensicsMarketMember 2018-11-01 2019-04-30 0001090872 a:InstrumentationMember 2019-11-01 2020-04-30 0001090872 a:NonInstrumentationandOtherMember 2019-11-01 2020-04-30 0001090872 a:EnvironmentalandForensicsMarketMember 2020-02-01 2020-04-30 0001090872 a:AcademiaandGovernmentMarketMember 2020-02-01 2020-04-30 0001090872 a:FoodMarketMember 2019-11-01 2020-04-30 0001090872 a:AcademiaandGovernmentMarketMember 2019-02-01 2019-04-30 0001090872 a:DiagnosticsAndGenomicsMember 2020-02-01 2020-04-30 0001090872 srt:EuropeMember 2020-02-01 2020-04-30 0001090872 srt:EuropeMember a:AgilentCrossLabMember 2019-02-01 2019-04-30 0001090872 srt:AmericasMember 2020-02-01 2020-04-30 0001090872 srt:EuropeMember a:DiagnosticsAndGenomicsMember 2019-02-01 2019-04-30 0001090872 srt:EuropeMember 2019-02-01 2019-04-30 0001090872 srt:AmericasMember a:DiagnosticsAndGenomicsMember 2019-02-01 2019-04-30 0001090872 srt:AsiaPacificMember a:DiagnosticsAndGenomicsMember 2019-02-01 2019-04-30 0001090872 srt:AsiaPacificMember a:AgilentCrossLabMember 2019-02-01 2019-04-30 0001090872 srt:AmericasMember 2019-02-01 2019-04-30 0001090872 srt:AmericasMember a:LifeSciencesandAppliedMarketsMember 2020-02-01 2020-04-30 0001090872 srt:AmericasMember a:DiagnosticsAndGenomicsMember 2020-02-01 2020-04-30 0001090872 srt:AsiaPacificMember 2019-02-01 2019-04-30 0001090872 a:LifeSciencesandAppliedMarketsMember 2020-02-01 2020-04-30 0001090872 srt:AsiaPacificMember a:LifeSciencesandAppliedMarketsMember 2019-02-01 2019-04-30 0001090872 srt:EuropeMember a:LifeSciencesandAppliedMarketsMember 2019-02-01 2019-04-30 0001090872 srt:AsiaPacificMember a:DiagnosticsAndGenomicsMember 2020-02-01 2020-04-30 0001090872 srt:AsiaPacificMember 2020-02-01 2020-04-30 0001090872 srt:EuropeMember a:DiagnosticsAndGenomicsMember 2020-02-01 2020-04-30 0001090872 srt:AsiaPacificMember a:LifeSciencesandAppliedMarketsMember 2020-02-01 2020-04-30 0001090872 srt:AmericasMember a:LifeSciencesandAppliedMarketsMember 2019-02-01 2019-04-30 0001090872 a:AgilentCrossLabMember 2020-02-01 2020-04-30 0001090872 a:DiagnosticsAndGenomicsMember 2019-02-01 2019-04-30 0001090872 srt:EuropeMember a:AgilentCrossLabMember 2020-02-01 2020-04-30 0001090872 srt:AsiaPacificMember a:AgilentCrossLabMember 2020-02-01 2020-04-30 0001090872 srt:AmericasMember a:AgilentCrossLabMember 2019-02-01 2019-04-30 0001090872 srt:EuropeMember a:LifeSciencesandAppliedMarketsMember 2020-02-01 2020-04-30 0001090872 srt:AmericasMember a:AgilentCrossLabMember 2020-02-01 2020-04-30 0001090872 a:LifeSciencesandAppliedMarketsMember 2019-02-01 2019-04-30 0001090872 a:AgilentCrossLabMember 2019-02-01 2019-04-30 0001090872 us-gaap:RestrictedStockUnitsRSUMember 2019-11-01 2020-04-30 0001090872 us-gaap:EmployeeStockMember 2020-04-30 0001090872 srt:MaximumMember us-gaap:PerformanceSharesMember 2019-11-01 2020-04-30 0001090872 srt:MinimumMember us-gaap:PerformanceSharesMember 2019-11-01 2020-04-30 0001090872 us-gaap:PublicUtilitiesInventoryTypeDomain 2019-11-01 2020-04-30 0001090872 a:LTPPRSUMember 2019-02-01 2019-04-30 0001090872 a:LtppMember 2019-02-01 2019-04-30 0001090872 a:LtppMember 2019-11-01 2020-04-30 0001090872 a:LtppMember 2020-02-01 2020-04-30 0001090872 a:LTPPRSUMember 2018-11-01 2019-04-30 0001090872 a:LTPPRSUMember 2020-02-01 2020-04-30 0001090872 a:LtppMember 2018-11-01 2019-04-30 0001090872 a:LTPPRSUMember 2019-11-01 2020-04-30 0001090872 us-gaap:ResearchAndDevelopmentExpenseMember 2018-11-01 2019-04-30 0001090872 us-gaap:CostOfSalesMember 2019-11-01 2020-04-30 0001090872 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-11-01 2020-04-30 0001090872 us-gaap:ResearchAndDevelopmentExpenseMember 2019-11-01 2020-04-30 0001090872 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-11-01 2019-04-30 0001090872 us-gaap:CostOfSalesMember 2018-11-01 2019-04-30 0001090872 us-gaap:ResearchAndDevelopmentExpenseMember 2019-02-01 2019-04-30 0001090872 us-gaap:ResearchAndDevelopmentExpenseMember 2020-02-01 2020-04-30 0001090872 us-gaap:CostOfSalesMember 2020-02-01 2020-04-30 0001090872 us-gaap:CostOfSalesMember 2019-02-01 2019-04-30 0001090872 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2020-02-01 2020-04-30 0001090872 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-02-01 2019-04-30 0001090872 us-gaap:PublicUtilitiesInventoryTypeDomain 2018-11-01 2019-10-31 0001090872 us-gaap:OtherNoncurrentLiabilitiesMember 2020-04-30 0001090872 us-gaap:OtherCurrentLiabilitiesMember 2020-04-30 0001090872 us-gaap:OtherNoncurrentAssetsMember 2020-04-30 0001090872 a:DiagnosticsAndGenomicsMember 2019-10-31 0001090872 a:AgilentCrossLabMember 2020-04-30 0001090872 a:LifeSciencesandAppliedMarketsMember 2020-04-30 0001090872 a:AgilentCrossLabMember 2019-10-31 0001090872 a:DiagnosticsAndGenomicsMember 2020-04-30 0001090872 a:LifeSciencesandAppliedMarketsMember 2019-10-31 0001090872 us-gaap:OrderOrProductionBacklogMember 2019-10-31 0001090872 us-gaap:CustomerRelationshipsMember 2020-04-30 0001090872 us-gaap:DevelopedTechnologyRightsMember 2019-10-31 0001090872 us-gaap:TrademarksMember 2019-10-31 0001090872 a:TotalAmortizableIntangibleAssetsMember 2019-10-31 0001090872 a:ThirdPartyTechnologyandLicensesMember 2019-10-31 0001090872 us-gaap:DevelopedTechnologyRightsMember 2020-04-30 0001090872 us-gaap:CustomerRelationshipsMember 2019-10-31 0001090872 a:TotalAmortizableIntangibleAssetsMember 2020-04-30 0001090872 us-gaap:TrademarksMember 2020-04-30 0001090872 us-gaap:InProcessResearchAndDevelopmentMember 2019-10-31 0001090872 us-gaap:InProcessResearchAndDevelopmentMember 2020-04-30 0001090872 a:ThirdPartyTechnologyandLicensesMember 2020-04-30 0001090872 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-04-30 0001090872 us-gaap:FairValueMeasurementsRecurringMember 2020-04-30 0001090872 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-04-30 0001090872 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-04-30 0001090872 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-10-31 0001090872 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-10-31 0001090872 us-gaap:FairValueMeasurementsRecurringMember 2019-10-31 0001090872 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-10-31 0001090872 a:SeniorNotes2026Member us-gaap:InterestRateSwapMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2016-02-01 0001090872 us-gaap:CashFlowHedgingMember us-gaap:CostOfSalesMember 2020-02-01 2020-04-30 0001090872 a:SeniorNotes2029Member us-gaap:TreasuryLockMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-08-16 0001090872 a:SeniorNotes2026Member us-gaap:InterestRateSwapMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-04-30 0001090872 a:SeniorNotes2022Member us-gaap:TreasuryLockMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2012-07-01 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember us-gaap:ForeignExchangeContractMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-02-01 2020-04-30 0001090872 a:SeniorNotes2026Member us-gaap:InterestRateSwapMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2016-09-14 2016-09-15 0001090872 a:SeniorNotes2029Member us-gaap:TreasuryLockMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-04-30 0001090872 a:SeniorNotes2022Member us-gaap:TreasuryLockMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-04-30 0001090872 us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember 2020-04-30 0001090872 us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-04-30 0001090872 us-gaap:ForeignExchangeForwardMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-04-30 0001090872 currency:GBP us-gaap:ForwardContractsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:JPY us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:CAD us-gaap:ForwardContractsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:SGD us-gaap:ForwardContractsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:LongMember 2020-04-30 0001090872 currency:CAD us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:SEK us-gaap:ForwardContractsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:SGD us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:LongMember 2020-04-30 0001090872 currency:XXX us-gaap:ForwardContractsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:LongMember 2020-04-30 0001090872 currency:GBP us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:NondesignatedMember us-gaap:ShortMember 2020-04-30 0001090872 currency:XXX us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:LongMember 2020-04-30 0001090872 currency:EUR us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:NondesignatedMember us-gaap:LongMember 2020-04-30 0001090872 currency:CAD us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:NondesignatedMember us-gaap:LongMember 2020-04-30 0001090872 currency:JPY us-gaap:ForwardContractsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:XXX us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:NondesignatedMember us-gaap:ShortMember 2020-04-30 0001090872 currency:EUR us-gaap:ForwardContractsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:KRW us-gaap:ForwardContractsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:CNY us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:NondesignatedMember us-gaap:ShortMember 2020-04-30 0001090872 currency:SEK us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:CNY us-gaap:ForwardContractsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:EUR us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:GBP us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:SGD us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:NondesignatedMember us-gaap:LongMember 2020-04-30 0001090872 currency:CNY us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:KRW us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:NondesignatedMember us-gaap:ShortMember 2020-04-30 0001090872 us-gaap:ForwardContractsMember us-gaap:NondesignatedMember us-gaap:LongMember 2020-04-30 0001090872 currency:SEK us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:NondesignatedMember us-gaap:ShortMember 2020-04-30 0001090872 us-gaap:ForwardContractsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:KRW us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ShortMember 2020-04-30 0001090872 currency:JPY us-gaap:ForwardContractsMember us-gaap:NetInvestmentHedgingMember us-gaap:NondesignatedMember us-gaap:LongMember 2020-04-30 0001090872 us-gaap:AccruedLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-04-30 0001090872 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-04-30 0001090872 us-gaap:AccruedLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-10-31 0001090872 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-10-31 0001090872 us-gaap:AccruedLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2020-04-30 0001090872 us-gaap:AccruedLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-10-31 0001090872 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2020-04-30 0001090872 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-10-31 0001090872 us-gaap:AccruedLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-10-31 0001090872 us-gaap:AccruedLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-04-30 0001090872 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-04-30 0001090872 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-10-31 0001090872 us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2018-11-01 2019-04-30 0001090872 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestExpenseMember 2020-02-01 2020-04-30 0001090872 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2020-02-01 2020-04-30 0001090872 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2019-11-01 2020-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-11-01 2019-04-30 0001090872 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestExpenseMember 2018-11-01 2019-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-02-01 2019-04-30 0001090872 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestExpenseMember 2019-11-01 2020-04-30 0001090872 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2019-02-01 2019-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember us-gaap:ForeignExchangeContractMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-02-01 2019-04-30 0001090872 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2018-11-01 2019-04-30 0001090872 us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2019-11-01 2020-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-11-01 2020-04-30 0001090872 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestExpenseMember 2019-02-01 2019-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember us-gaap:ForeignExchangeContractMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-11-01 2019-04-30 0001090872 us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2020-02-01 2020-04-30 0001090872 us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2019-02-01 2019-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember us-gaap:ForeignExchangeContractMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-11-01 2020-04-30 0001090872 us-gaap:AccumulatedOtherComprehensiveIncomeMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-02-01 2020-04-30 0001090872 us-gaap:ForeignPlanMember us-gaap:PensionPlansDefinedBenefitMember 2019-11-01 2020-04-30 0001090872 us-gaap:ForeignPlanMember us-gaap:PensionPlansDefinedBenefitMember 2020-02-01 2020-04-30 0001090872 country:US us-gaap:PensionPlansDefinedBenefitMember 2020-02-01 2020-04-30 0001090872 us-gaap:ForeignPlanMember us-gaap:PensionPlansDefinedBenefitMember 2019-02-01 2019-04-30 0001090872 us-gaap:ForeignPlanMember us-gaap:PensionPlansDefinedBenefitMember 2018-11-01 2019-04-30 0001090872 country:US us-gaap:PensionPlansDefinedBenefitMember 2019-02-01 2019-04-30 0001090872 us-gaap:ForeignPlanMember us-gaap:PensionPlansDefinedBenefitMember 2020-04-30 0001090872 country:US us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2020-02-01 2020-04-30 0001090872 country:US us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-02-01 2019-04-30 0001090872 country:US us-gaap:PensionPlansDefinedBenefitMember 2018-11-01 2019-04-30 0001090872 country:US us-gaap:PensionPlansDefinedBenefitMember 2019-11-01 2020-04-30 0001090872 country:US us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-11-01 2020-04-30 0001090872 country:US us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-11-01 2019-04-30 0001090872 country:US us-gaap:PensionPlansDefinedBenefitMember 2020-04-30 0001090872 us-gaap:RevolvingCreditFacilityMember 2020-04-30 0001090872 us-gaap:RevolvingCreditFacilityMember 2019-03-13 2019-03-13 0001090872 us-gaap:RevolvingCreditFacilityMember 2019-03-13 0001090872 us-gaap:CommercialPaperMember us-gaap:SubsequentEventMember 2020-05-26 0001090872 us-gaap:RevolvingCreditFacilityMember 2020-02-01 2020-04-30 0001090872 us-gaap:ShortTermDebtMember 2020-04-30 0001090872 a:SeniorNotes2029Member 2019-10-31 0001090872 a:SeniorNotes2022Member 2020-04-30 0001090872 a:SeniorNotes2026Member 2019-10-31 0001090872 a:SeniorNotes2023Member 2019-10-31 0001090872 a:SeniorNotes2022Member 2019-10-31 0001090872 a:SeniorNotes2023Member 2020-04-30 0001090872 a:SeniorNotes2026Member 2020-04-30 0001090872 a:SeniorNotes2029Member 2020-04-30 0001090872 us-gaap:InterestExpenseMember 2020-02-01 2020-04-30 0001090872 us-gaap:InterestExpenseMember 2018-11-01 2019-04-30 0001090872 us-gaap:InterestExpenseMember 2019-11-01 2020-04-30 0001090872 us-gaap:InterestExpenseMember 2019-02-01 2019-04-30 0001090872 a:A2019RepurchaseProgramMember 2019-11-01 2020-04-30 0001090872 a:A2019RepurchaseProgramMember 2018-11-01 2019-04-30 0001090872 a:A2019RepurchaseProgramMember 2020-02-01 2020-04-30 0001090872 us-gaap:SubsequentEventMember 2020-05-20 2020-05-20 0001090872 a:A2019RepurchaseProgramMember 2019-02-01 2019-04-30 0001090872 a:A2019RepurchaseProgramMember 2020-04-30 0001090872 a:A2019RepurchaseProgramMember 2018-11-19 0001090872 us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember 2020-04-30 0001090872 us-gaap:AccumulatedTranslationAdjustmentMember 2020-02-01 2020-04-30 0001090872 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2019-10-31 0001090872 us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember 2019-11-01 2020-04-30 0001090872 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2019-10-31 0001090872 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2019-11-01 2020-04-30 0001090872 us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember 2020-02-01 2020-04-30 0001090872 us-gaap:AccumulatedTranslationAdjustmentMember 2020-01-31 0001090872 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2020-02-01 2020-04-30 0001090872 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2020-04-30 0001090872 us-gaap:AccumulatedTranslationAdjustmentMember 2019-11-01 2020-04-30 0001090872 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2019-11-01 2020-04-30 0001090872 us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember 2020-01-31 0001090872 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2020-04-30 0001090872 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2020-02-01 2020-04-30 0001090872 us-gaap:AccumulatedTranslationAdjustmentMember 2019-10-31 0001090872 us-gaap:AccumulatedTranslationAdjustmentMember 2020-04-30 0001090872 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember 2020-01-31 0001090872 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember 2020-01-31 0001090872 us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember 2019-10-31 0001090872 a:SegmentTotalMember 2020-02-01 2020-04-30 0001090872 a:SegmentTotalMember 2019-02-01 2019-04-30 0001090872 a:SegmentTotalMember 2018-11-01 2019-04-30 0001090872 a:SegmentTotalMember 2019-11-01 2020-04-30 0001090872 a:SegmentTotalMember 2019-10-31 0001090872 a:SegmentTotalMember 2020-04-30 xbrli:pure xbrli:shares iso4217:USD iso4217:USD xbrli:shares a:contracts

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
 
(MARK ONE) 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. 
For the quarterly period ended April 30, 2020 
OR 
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. 
For transition period from              to        
 Commission File Number: 001-15405
 AGILENT TECHNOLOGIES, INC.
(Exact Name of registrant as specified in its charter)
 
Delaware
 
 
 
77-0518772
 
(State or other jurisdiction of incorporation or organization)
 
(IRS Employer Identification No.)
 
5301 Stevens Creek Blvd.,
Santa Clara, California 95051
(Address of principal executive offices)

Registrant’s telephone number, including area code: (800) 227-9770  

Securities registered pursuant to Section 12(b) of the Act:
Title of each Class
 
Trading Symbol
 
Name of each Exchange on which registered
Common Stock, $0.01 par value
 
 
A
 
 
 
New York Stock Exchange
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes    No  
 Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes    No    
 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
 
Accelerated filer
 
Non-accelerated filer
 
Smaller reporting company
 
 
 
 
Emerging growth company
 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.      
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes   No   

As of May 22, 2020, the registrant had 308,777,396 shares of common stock, $0.01 par value per share, outstanding.



AGILENT TECHNOLOGIES, INC.
TABLE OF CONTENTS
 
 
 
 
Page
Number
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

2


PART I
— FINANCIAL INFORMATION
 
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
 
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(in millions, except per share amounts)
(Unaudited)
 
 
Three Months Ended
 
Six Months Ended
 
April 30,
 
April 30,
 
2020
 
2019
 
2020
 
2019
Net revenue:
 

 
 

 
 

 
 

Products
$
923

 
$
921

 
$
1,946

 
$
1,901

Services and other
315

 
317

 
649

 
621

Total net revenue
1,238

 
1,238

 
2,595

 
2,522

Costs and expenses:
 

 
 

 
 

 
 

Cost of products
417

 
400

 
871

 
814

Cost of services and other
164

 
169

 
344

 
332

Total costs
581

 
569

 
1,215

 
1,146

Research and development
197

 
99

 
301

 
201

Selling, general and administrative
358

 
354

 
762

 
709

Total costs and expenses
1,136

 
1,022

 
2,278

 
2,056

Income from operations
102

 
216

 
317

 
466

Interest income
3

 
10

 
6

 
20

Interest expense
(20
)
 
(17
)
 
(40
)
 
(35
)
Other income (expense), net
36

 
9

 
57

 
15

Income before taxes
121

 
218

 
340

 
466

Provision (benefit) for income taxes
20

 
36

 
42

 
(220
)
Net income
$
101

 
$
182

 
$
298

 
$
686

 
 
 
 
 
 
 
 
Net income per share:
 

 
 

 
 
 
 
Basic
$
0.33

 
$
0.57

 
$
0.96

 
$
2.16

Diluted
$
0.32

 
$
0.57

 
$
0.95

 
$
2.13

 
 
 
 
 
 
 
 
Weighted average shares used in computing net income per share:
 

 
 

 
 

 
 

Basic
309

 
317

 
310

 
318

Diluted
312

 
321

 
313

 
322

 
The accompanying notes are an integral part of these condensed consolidated financial statements.


3


AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)
(in millions)
(Unaudited)

 
Three Months Ended
 
Six Months Ended
 
April 30,
 
April 30,
 
2020
 
2019
 
2020
 
2019
 
 
 
 
 
 
 
 
Net income
$
101

 
$
182

 
$
298

 
$
686

Other comprehensive income (loss):
 
 
 
 
 
 
 
Unrealized gain (loss) on derivative instruments, net of tax expense (benefit) of $0, $1, $0 and $(1)
2

 
3

 
3

 
(1
)
Amounts reclassified into earnings related to derivative instruments, net of tax expense (benefit) of $0, $0, $0 and $(1)
(1
)
 

 
(1
)
 
(4
)
Foreign currency translation, net of tax expense (benefit) of $0, $0, $0 and $(9)
(29
)
 
(25
)
 
(40
)
 
13

Net defined benefit pension cost and post retirement plan costs:
 
 
 
 
 
 
 
Change in actuarial net loss, net of tax expense of $2, $2, $5 and $6
12

 
6

 
18

 
12

Change in net prior service benefit, net of tax expense (benefit) of $(1), $(1), $0 and $(1)
(1
)
 
(1
)
 
(4
)
 
(3
)
Other comprehensive income (loss)
(17
)
 
(17
)
 
(24
)
 
17

Total comprehensive income
$
84

 
$
165

 
$
274

 
$
703



The accompanying notes are an integral part of these condensed consolidated financial statements.


4


AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(in millions, except par value and share amounts)
(Unaudited)
 
April 30,
2020
 
October 31,
2019
ASSETS
 

 
 

Current assets:
 

 
 

Cash and cash equivalents
$
1,324

 
$
1,382

Accounts receivable, net
886

 
930

Inventory
750

 
679

Other current assets
211

 
198

Total current assets
3,171

 
3,189

Property, plant and equipment, net
836

 
850

Goodwill
3,582

 
3,593

Other intangible assets, net
921

 
1,107

Long-term investments
141

 
102

Other assets
804

 
611

Total assets
$
9,455

 
$
9,452

LIABILITIES AND EQUITY
 

 
 

Current liabilities:
 

 
 

Accounts payable
$
333

 
$
354

Employee compensation and benefits
280

 
334

Deferred revenue
399

 
336

Short-term debt
700

 
616

Other accrued liabilities
233

 
440

Total current liabilities
1,945

 
2,080

Long-term debt
1,788

 
1,791

Retirement and post-retirement benefits
340

 
360

Other long-term liabilities
614

 
473

Total liabilities
4,687

 
4,704

Commitments and contingencies (Note 14)


 


Total equity:
 

 
 

Stockholders’ equity:
 

 
 

Preferred stock; $0.01 par value; 125 million shares authorized; none issued and outstanding

 

Common stock; $0.01 par value; 2 billion shares authorized; 308 million shares at April 30, 2020 and 309 million shares at October 31, 2019 issued
3

 
3

Additional paid-in-capital
5,288

 
5,277

Retained earnings (accumulated deficit)
15

 
(18
)
Accumulated other comprehensive loss
(538
)
 
(514
)
Total stockholders' equity
4,768

 
4,748

Total liabilities and equity
$
9,455

 
$
9,452


 
The accompanying notes are an integral part of these condensed consolidated financial statements.

5


AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(in millions)
(Unaudited)
 
Six Months Ended
 
April 30,
 
2020
 
2019
 
 

 
 

Net income
$
298

 
$
686

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 

 
 

Depreciation and amortization
155

 
107

Share-based compensation
44

 
40

Deferred taxes
(3
)
 
(272
)
Excess and obsolete inventory related charges
9

 
7

Unrealized gain on equity securities
(27
)
 
(1
)
Asset impairment charges
99

 

Other non-cash expense, net
3

 
3

Changes in assets and liabilities:
 

 
 

Accounts receivable
25

 
(17
)
Inventory
(85
)
 
(21
)
Accounts payable
(10
)
 
(8
)
Employee compensation and benefits
(50
)
 
(13
)
Other assets and liabilities
(204
)
 
(46
)
Net cash provided by operating activities
254

 
465

 
 
 
 
Cash flows from investing activities:
 

 
 

Investments in property, plant and equipment
(67
)
 
(78
)
Payment to acquire fair value investments
(18
)
 
(18
)
Payment in exchange for convertible note
(3
)
 
(2
)
Acquisitions of businesses and intangible assets, net of cash acquired

 
(248
)
Net cash used in investing activities
(88
)
 
(346
)
 
 
 
 
Cash flows from financing activities:
 

 
 

Issuance of common stock under employee stock plans
32

 
33

Payment of taxes related to net share settlement of equity awards
(33
)
 
(14
)
Payment of dividends
(111
)
 
(104
)
Purchase of non-controlling interest

 
(4
)
Proceeds from revolving credit facility
798

 

Repayment of revolving credit facility
(713
)
 

Repayment of finance lease
(4
)
 

Treasury stock repurchases
(186
)
 
(125
)
Net cash used in financing activities
(217
)
 
(214
)
 
 
 
 
Effect of exchange rate movements
(8
)
 
2

 
 
 
 
Net decrease in cash, cash equivalents and restricted cash
(59
)
 
(93
)
 
 
 
 
Cash, cash equivalents and restricted cash at beginning of period
1,388

 
2,254

Cash, cash equivalents and restricted cash at end of period
$
1,329

 
$
2,161

 
 
 
 
Supplemental cash flow information:
 
 
 
Income tax paid, net
$
286

 
$
104

Interest payments
$
39

 
$
36

Non-cash changes in investments in property, plant and equipment - increase (decrease)
$
(8
)
 
$
(23
)
 
The accompanying notes are an integral part of these condensed consolidated financial statements.

6


AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF EQUITY
(in millions, except number of shares in thousands)
(Unaudited)
 
Common Stock
 
Treasury Stock
 
 
 
Accumulated
Other
Comprehensive
Loss
 
 
 
 
 
 
Three Months Ended April 30, 2020
Number
of
Shares
 
Par
Value
 
Additional
Paid-in
Capital
 
Number
of
Shares
 
Treasury
Stock at
Cost
 
Retained
Earnings
(Accumulated Deficit)
 
Total Stockholders' Equity
 
Non-
Controlling
Interest
 
Total
Equity
Balance as of January 31, 2020
310,048

 
$
3

 
$
5,293

 

 
$

 
$
73

 
$
(521
)
 
$
4,848

 
$

 
$
4,848

Components of comprehensive income, net of tax:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income

 

 

 

 

 
101

 

 
101

 

 
101

Other comprehensive loss

 

 

 

 

 

 
(17
)
 
(17
)
 

 
(17
)
Total comprehensive income
 

 
 

 
 

 
 

 
 

 
 

 
 

 
84

 
 
 
84

Cash dividends declared ($0.18 per common share)

 

 

 

 

 
(55
)
 

 
(55
)
 

 
(55
)
Share-based awards issued, net of tax of $0
58

 

 

 

 

 

 

 

 

 

Repurchase of common stock

 

 

 
(1,663
)
 
(126
)
 

 

 
(126
)
 

 
(126
)
Retirement of treasury stock
(1,663
)
 

 
(22
)
 
1,663

 
126

 
(104
)
 

 

 

 

Share-based compensation

 

 
17

 

 

 

 

 
17

 

 
17

Balance as of April 30, 2020
308,443

 
$
3

 
$
5,288

 

 
$

 
$
15

 
$
(538
)
 
$
4,768

 
$

 
$
4,768


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common Stock
 
Treasury Stock
 
 
 
Accumulated
Other
Comprehensive
Loss
 
 
 
 
 
 
Six Months Ended April 30, 2020
Number
of
Shares
 
Par
Value
 
Additional
Paid-in
Capital
 
Number
of
Shares
 
Treasury
Stock at
Cost
 
Retained
Earnings
(Accumulated Deficit)
 
Total Stockholders' Equity
 
Non-
Controlling
Interest
 
Total
Equity
Balance as of October 31, 2019
309,071

 
$
3

 
$
5,277

 

 
$

 
$
(18
)
 
$
(514
)
 
$
4,748

 
$

 
$
4,748

Components of comprehensive income, net of tax:
 
 
 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
Net income

 

 

 

 

 
298

 

 
298

 

 
298

Other comprehensive loss

 

 

 

 

 

 
(24
)
 
(24
)
 

 
(24
)
Total comprehensive income
 

 
 

 
 

 
 

 
 

 
 

 
 

 
274

 
 
 
274

Cash dividends declared ($0.36 per common share)             

 

 

 

 

 
(111
)
 

 
(111
)
 

 
(111
)
Share-based awards issued, net of tax of $33
1,761

 

 
(1
)
 

 

 

 

 
(1
)
 

 
(1
)
Repurchase of common stock

 

 

 
(2,389
)
 
(186
)
 

 

 
(186
)
 

 
(186
)
Retirement of treasury stock
(2,389
)
 

 
(32
)
 
2,389

 
186

 
(154
)
 

 

 

 

Share-based compensation

 

 
44

 

 

 

 

 
44

 

 
44

Balance as of April 30, 2020
308,443

 
$
3

 
$
5,288

 

 
$

 
$
15

 
$
(538
)
 
$
4,768

 
$

 
$
4,768



7


 
Common Stock
 
Treasury Stock
 
 
 
Accumulated
Other
Comprehensive
Loss
 
 
 
 
 
 
Three Months Ended April 30, 2019
Number
of
Shares
 
Par
Value
 
Additional
Paid-in
Capital
 
Number
of
Shares
 
Treasury
Stock at
Cost
 
Retained
Earnings
(Accumulated Deficit)
 
Total Stockholders' Equity
 
Non-
Controlling
Interest
 
Total
Equity
Balance as of January 31, 2019
317,533

 
$
3

 
$
5,324

 

 
$

 
$
90

 
$
(381
)
 
$
5,036

 
$

 
$
5,036

Components of comprehensive income, net of tax:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income

 

 

 

 

 
182

 

 
182

 

 
182

Other comprehensive loss

 

 

 

 

 

 
(17
)
 
(17
)
 

 
(17
)
Total comprehensive income
 

 
 

 
 

 
 

 
 

 
 

 
 

 
165

 
 
 
165

Purchase of non-controlling interest

 

 

 

 

 

 

 

 

 

Cash dividends declared ($0.164 per common share)             

 

 

 

 

 
(52
)
 

 
(52
)
 

 
(52
)
Share-based awards issued, net of tax of $1
381

 

 
10

 

 

 

 

 
10

 

 
10

Repurchase of common stock

 

 

 
(638
)
 
(50
)
 

 

 
(50
)
 

 
(50
)
Retirement of treasury stock
(629
)
 

 
(7
)
 
629

 
49

 
(42
)
 

 

 

 

Share-based compensation

 

 
16

 

 

 

 

 
16

 

 
16

Balance as of April 30, 2019
317,285

 
$
3

 
$
5,343

 
(9
)
 
$
(1
)
 
$
178

 
$
(398
)
 
$
5,125

 
$

 
$
5,125


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common Stock
 
Treasury Stock
 
 
 
Accumulated
Other
Comprehensive
Loss
 
 
 
 
 
 
Six Months Ended April 30, 2019
Number
of
Shares
 
Par
Value
 
Additional
Paid-in
Capital
 
Number
of
Shares
 
Treasury
Stock at
Cost
 
Retained
Earnings
(Accumulated Deficit)
 
Total Stockholders' Equity
 
Non-
Controlling
Interest
 
Total
Equity
Balance as of October 31, 2018
317,715

 
$
3

 
$
5,308

 

 
$

 
$
(336
)
 
$
(408
)
 
$
4,567

 
$
4

 
$
4,571

Effects of adoption of new accounting standards
 
 
 
 
 
 
 
 
 
 
$
33

 
$
(7
)
 
$
26

 
 
 
$
26

Components of comprehensive income, net of tax:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income

 

 

 

 

 
686

 

 
686

 

 
686

Other comprehensive income

 

 

 

 

 

 
17

 
17

 

 
17

Total comprehensive income
 

 
 

 
 

 
 

 
 

 
 

 
 

 
703

 
 
 
703

Purchase of non-controlling interest

 

 

 

 

 

 

 

 
(4
)
 
(4
)
Cash dividends declared ($0.328 per common share)             

 

 

 

 

 
(104
)
 

 
(104
)
 

 
(104
)
Share-based awards issued, net of tax of $14
1,327

 

 
18

 

 

 

 

 
18

 

 
18

Repurchase of common stock

 

 

 
(1,766
)
 
(125
)
 

 

 
(125
)
 

 
(125
)
Retirement of treasury stock
(1,757
)
 

 
(23
)
 
1,757

 
124

 
(101
)