XML 42 R36.htm IDEA: XBRL DOCUMENT v3.25.1
Business Segment Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Revenue, Operating Income and Total Assets by Reportable Segment

The following tables present segment results for the three months ended March 31, 2025, and 2024 (in millions):

 

Three Months Ended
March 31, 2025

 

 

BSI BioSpin

 

 

BSI CALID

 

 

BSI NANO

 

 

BEST

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue from external customers

 

$

207.8

 

 

$

280.1

 

 

$

256.6

 

 

$

56.9

 

 

$

801.4

 

Intersegment revenue

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2.4

 

 

 

2.4

 

Total segment revenue

 

$

207.8

 

 

$

280.1

 

 

$

256.6

 

 

$

59.3

 

 

$

803.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

109.7

 

 

$

117.8

 

 

$

118.9

 

 

$

46.4

 

 

$

392.8

 

Selling, general and administrative

 

 

39.0

 

 

 

72.9

 

 

 

69.3

 

 

 

5.3

 

 

 

186.5

 

Research and development

 

 

22.0

 

 

 

27.9

 

 

 

45.3

 

 

 

0.6

 

 

 

95.8

 

Segment operating income

 

$

37.1

 

 

$

61.5

 

 

$

23.1

 

 

$

7.0

 

 

$

128.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of Total operating income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate, elimination and other (a)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

26.9

 

Unallocated expenses (b)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

70.0

 

Total consolidated operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

$

31.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6.7

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes, equity in income (losses) of unconsolidated investees, net of tax, and noncontrolling interests in consolidated subsidiaries

 

 

 

 

 

 

 

 

 

 

 

 

 

$

25.1

 

 

 

Three Months Ended
March 31, 2024

 

 

BSI BioSpin

 

 

BSI CALID

 

 

BSI NANO

 

 

BEST

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue from external customers

 

$

182.8

 

 

$

227.9

 

 

$

240.4

 

 

$

70.6

 

 

$

721.7

 

Intersegment revenue

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2.5

 

 

 

2.5

 

Total segment revenue

 

$

182.8

 

 

$

227.9

 

 

$

240.4

 

 

$

73.1

 

 

$

724.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

89.1

 

 

$

93.8

 

 

$

114.0

 

 

$

58.5

 

 

$

355.4

 

Selling, general and administrative

 

 

37.0

 

 

 

57.8

 

 

 

63.0

 

 

 

5.7

 

 

 

163.5

 

Research and development

 

 

22.1

 

 

 

25.2

 

 

 

33.6

 

 

 

0.7

 

 

 

81.6

 

Segment operating income

 

$

34.6

 

 

$

51.1

 

 

$

29.8

 

 

$

8.2

 

 

$

123.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of Total operating income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate, elimination and other (a)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

23.1

 

Unallocated expenses (b)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

35.8

 

Total consolidated operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

$

64.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes, equity in income (losses) of unconsolidated investees, net of tax, and noncontrolling interests in consolidated subsidiaries

 

 

 

 

 

 

 

 

 

 

 

 

 

$

71.6

 
a)
Represents corporate 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.

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

 

March 31,
2025

 

 

December 31,
2024

 

Assets:

 

 

 

 

 

 

BSI BioSpin, BSI CALID, BSI NANO & Corporate

 

$

5,768.6

 

 

$

5,648.4

 

BEST

 

 

204.9

 

 

 

199.8

 

Eliminations and other (a)

 

 

(40.4

)

 

 

(41.5

)

Total assets

 

$

5,933.1

 

 

$

5,806.7

 
Assets not allocated to the reportable segments and eliminations of intercompany transactions.
Summary of capital expenditures and depreciation and amortization by segment

Total capital expenditures and depreciation and amortization by segment are as follows for the periods presented (in millions):

 

 

 

Three Months Ended
March 31,

 

 

 

2025

 

 

2024

 

Capital Expenditures:

 

 

 

 

 

 

BSI BioSpin

 

$

3.2

 

 

$

(0.4

)

BSI CALID

 

 

8.4

 

 

 

5.3

 

BSI NANO

 

 

4.9

 

 

 

6.2

 

BEST

 

 

4.8

 

 

 

7.6

 

Corporate

 

 

4.7

 

 

 

2.7

 

Total capital expenditures

 

$

26.0

 

 

$

21.4

 

Depreciation and Amortization:

 

 

 

 

 

 

BSI BioSpin

 

$

10.4

 

 

$

8.2

 

BSI CALID

 

 

19.8

 

 

 

9.8

 

BSI NANO

 

 

16.7

 

 

 

13.4

 

BEST

 

 

2.1

 

 

 

2.0

 

Corporate

 

 

1.4

 

 

 

1.3

 

Total depreciation and amortization

 

$

50.4

 

 

$

34.7