Business Segment Information

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Business Segment Information

17.Business Segment Information

The Company has four reportable segments, BSI BioSpin, BSI CALID, BSI Nano and BEST, as discussed in Note 1 to the unaudited condensed consolidated financial statements. See Note 3 for revenue by reportable segment.

Operating income by reportable segment are presented below (in millions):

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Operating (loss) income:
BSI BioSpin	$	37.3		$	23.8		$	68.5		$	71.2
BSI CALID		35.5			44.0			76.6			101.6
BSI Nano		(3.6	)		31.3			7.2			60.7
BEST		10.5			11.1			18.6			19.1
Corporate, eliminations and other (a)		(31.6	)		(24.0	)		(58.0	)		(43.7	)
Total operating income	$	48.1		$	86.2		$	112.9		$	208.9

(a)Represents corporate costs and 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.

Total assets by reportable segment are as follows (in millions):

	June 30, 2024			December 31, 2023
Assets:
BSI BioSpin, BSI CALID, BSI Nano & Corporate	$	5,764.8		$	4,110.6
BEST	$	179.4			186.0
Eliminations and other (a)	$	(41.6	)		(46.7	)
Total assets	$	5,902.6		$	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 held by each of its 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 any asset information by operating segment.