Segment Data (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table reflects net sales based on geographic location:

(In millions)	Three Months Ended June 30,				Six Months Ended June 30,
Net Sales	2022		2021		2022		2021
North America	$	783	$	713	$	1,479	$	1,348
Europe	327		366		671		727
APAC & Emerging Markets	109		114		221		226
Eliminations	(2)		(4)		(6)		(10)
Total net sales	$	1,217	$	1,189	$	2,365	$	2,291

The following tables reflect adjusted EBITDA by geographic location and a reconciliation of Net Income (Loss) Attributable to Covetrus to Non-GAAP Adjusted EBITDA:

(In millions)	Three Months Ended June 30,				Six Months Ended June 30,
Adjusted EBITDA	2022		2021		2022		2021
North America	$	63	$	59	$	120	$	111
Europe	17		20		35		41
APAC & Emerging Markets	8		9		18		19
Corporate	(22)		(22)		(44)		(48)
Total Adjusted EBITDA	$	66	$	66	$	129	$	123

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2022		2021		2022		2021
Reconciliation of Net Income (Loss) Attributable to Covetrus to Non-GAAP Adjusted EBITDA
Net income (loss) attributable to Covetrus	$	(4)	$	(31)	$	(6)	$	(47)
Plus: Depreciation and amortization	41		43		81		86
Plus: Interest expense, net	7		9		14		18
Plus: Income tax (benefit) expense	1		13		4		17
Earnings (loss) before interest, taxes, depreciation, and amortization	45		34		93		74
Plus: Share-based compensation	10		14		23		25
Plus: Strategic consulting	—		12		—		14
Plus: Transaction costs	7		1		8		2
Plus: Formation of Covetrus	—		—		—		2
Plus: Separation programs and executive severance	2		2		2		2
Plus: Equity method investments and non-consolidated affiliates	1		—		2		1
Plus: Other impairments	—		—		—		1
Plus: Other items, net	1		3		1		2
Non-GAAP Adjusted EBITDA	$	66	$	66	$	129	$	123