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Segment Data (Tables)
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Schedule of Adjusted EBITA by Reportable Segment to Consolidated Net Income (Loss)
The following tables reflect our segment information and Corporate, the segment recast for the prior years, and reconciles Adjusted EBITDA for reportable segments to consolidated net (loss) income attributable to Covetrus:
 
At and For the Year Ended December 31, 2019

North America
 
Europe
 
APAC & Emerging Markets
 
Corporate
 
Eliminations
 
Total
Net sales
$
2,111

 
$
1,509

 
$
368

 
$

 
$
(12
)
 
$
3,976

Adjusted EBITDA
$
154

 
$
68

 
$
19

 
$
(39
)
 
$

 
$
202

Depreciation and amortization
$
131

 
$
18

 
$
6

 
$

 
$

 
$
155

Income tax benefit (expense)
$
8

 
$
(3
)
 
$
(4
)
 
$
6

 
$

 
$
7

Total assets
$
2,941

 
$
726

 
$
137

 
$
783

 
$
(1,226
)
 
$
3,361

Expenditures for long-lived assets
$
23

 
$
10

 
$
1

 
$
5

 
$

 
$
39

 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Loss Attributable to Covetrus to Adjusted EBITDA:
 
 
 
 
 
Net loss attributable to Covetrus
 
 
 
 
 
 
 
 
 
 
$
(1,019
)
Plus: Depreciation and amortization
 
 
 
 
 
 
 
155

Plus: Interest expense, net
 
 
 
 
 
 
 
 
 
 
53

Less: Income tax benefit
 
 
 
 
 
 
 
 
 
 
(7
)
Earnings before interest, taxes, depreciation, and amortization
 
 
 
 
 
(818
)
Plus: Share-based compensation
 
 
 
 
 
 
 
46

Plus: Transaction costs
 
 
 
 
 
 
 
 
 
 
2

Plus: Formation of Covetrus
 
 
 
 
 
 
 
 
 
 
34

Plus: Separation programs and executive severance
 
11

Plus: Carve-out operating expenses
 
 
 
 
 
 
 
 
 
 
5

Plus: IT infrastructure
 
 
 
 
 
 
 
 
 
 
6

Plus: Goodwill impairment
 
 
 
 
 
 
 
 
 
 
938

Less: Minority interest in goodwill impairment
 
 
 
 
 
(3
)
Less: Other (income) expense items, net
 
 
 
 
 
(19
)
Adjusted EBITDA
 
 
 
 
 
 
 
 
 
 
$
202


 
At and For the Year Ended December 29, 2018

North America
 
Europe
 
APAC & Emerging Markets
 
Corporate
 
Eliminations
 
Total
Net sales
$
1,939

 
$
1,463

 
$
387

 
$

 
$
(11
)
 
$
3,778

Adjusted EBITDA
$
157

 
$
75

 
$
20

 
$
(32
)
 
$

 
$
220

Depreciation and amortization
$
41

 
$
17

 
$
6

 
$

 
$

 
$
64

Income tax expense
$
(18
)
 
$
(15
)
 
$
(3
)
 
$
(1
)
 
$

 
$
(37
)
Total assets
$
1,343

 
$
702

 
$
182

 
$
10

 
$
(4
)
 
$
2,233

Expenditures for long-lived assets
$
14

 
$
7

 
$
1

 
$

 
$

 
$
22

 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Income Attributable to Covetrus to Adjusted EBITDA:
 
 
 
 
 
Net income attributable to Covetrus
 
 
 
 
 
 
 
 
 
 
$
101

Plus: Depreciation and amortization
 
 
 
 
 
 
 
64

Plus: Interest expense, net
 
 
 
 
 
 
 
 
 
 
2

Plus: Income tax expense
 
 
 
 
 
 
 
 
 
 
37

Earnings before interest, taxes, depreciation, and amortization
 
 
 
 
 
204

Plus: Share-based compensation
 
 
 
 
 
 
 
7

Plus: Separation programs and executive severance
 
9

Adjusted EBITDA
 
 
 
 
 
 
 
 
 
 
$
220


 
At and For the Year Ended December 30, 2017
 
North America
 
Europe
 
APAC & Emerging Markets
 
Corporate
 
Eliminations
 
Total
Net sales
$
1,876

 
$
1,373

 
$
349

 
$

 
$
(18
)
 
$
3,580

Adjusted EBITDA
$
136

 
$
62

 
$
16

 
$
(37
)
 
$

 
$
177

Depreciation and amortization
$
38

 
$
16

 
$
5

 
$

 
$

 
$
59

Income tax expense
$
(34
)
 
$
(11
)
 
$
(2
)
 
$
(1
)
 
$

 
$
(48
)
Total assets
$
1,301

 
$
735

 
$
174

 
$
11

 
$
(4
)
 
$
2,217

Expenditures for long-lived assets
$
13

 
$
7

 
$
1

 
$

 
$

 
$
21

 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Income Attributable to Covetrus to Adjusted EBITDA:
 
 
 
 
 
Net income attributable to Covetrus
 
 
 
 
 
 
 
 
 
 
$
64

Plus: Depreciation and amortization
 
 
 
 
 
 
 
59

Plus: Interest expense, net
 
 
 
 
 
 
 
 
 
 
2

Plus: Income tax expense
 
 
 
 
 
 
 
 
 
 
48

Earnings before interest, taxes, depreciation, and amortization
 
 
 
 
 
173

Plus: Share-based compensation
 
 
 
 
 
4

Adjusted EBITDA
 
 
 
 
 
 
 
 
 
 
$
177


See Note 4 - Revenue from Contracts with Customers for our revenue disaggregated by major product category and reportable segment.