XML 34 R23.htm IDEA: XBRL DOCUMENT v3.22.2
Segment Data - Operating Results by Segment (Details)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2022
USD ($)
reportable_segment
Jun. 30, 2021
USD ($)
Segment Reporting [Abstract]        
Number of reportable segments | reportable_segment     3  
Segment Reporting Information [Line Items]        
Net sales $ 1,217.0 $ 1,189.0 $ 2,365.0 $ 2,291.0
Adjusted EBITDA 66.0 66.0 129.0 123.0
Net income (loss) attributable to Covetrus (4.0) (31.0) (6.0) (47.0)
Plus: Depreciation and amortization 41.0 43.0 81.0 86.0
Plus: Interest expense, net 7.0 9.0 14.0 18.0
Plus: Income tax (benefit) expense 1.0 13.0 4.0 17.0
Earnings (loss) before interest, taxes, depreciation, and amortization 45.0 34.0 93.0 74.0
Plus: Share-based compensation 10.0 14.0 23.0 25.0
Plus: Strategic consulting 0.0 12.0 0.0 14.0
Plus: Transaction costs 7.0 1.0 8.0 2.0
Plus: Formation of Covetrus 0.0 0.0 0.0 2.0
Plus: Separation programs and executive severance 2.0 2.0 2.0 2.0
Plus: Equity method investments and non-consolidated affiliates 1.0 0.0 2.0 1.0
Plus: Other impairments 0.0 0.0 0.0 1.0
Plus: Other items, net 1.0 3.0 1.0 2.0
Payments for merger related costs 6.0   7.0  
North America        
Segment Reporting Information [Line Items]        
Net sales 783.0 713.0 1,479.0 1,348.0
Europe        
Segment Reporting Information [Line Items]        
Net sales 325.0 362.0 665.0 717.0
APAC & Emerging Markets        
Segment Reporting Information [Line Items]        
Net sales 109.0 114.0 221.0 226.0
Operating Segments | North America        
Segment Reporting Information [Line Items]        
Net sales 783.0 713.0 1,479.0 1,348.0
Adjusted EBITDA 63.0 59.0 120.0 111.0
Operating Segments | Europe        
Segment Reporting Information [Line Items]        
Net sales 327.0 366.0 671.0 727.0
Adjusted EBITDA 17.0 20.0 35.0 41.0
Operating Segments | APAC & Emerging Markets        
Segment Reporting Information [Line Items]        
Net sales 109.0 114.0 221.0 226.0
Adjusted EBITDA 8.0 9.0 18.0 19.0
Corporate        
Segment Reporting Information [Line Items]        
Adjusted EBITDA (22.0) (22.0) (44.0) (48.0)
Eliminations        
Segment Reporting Information [Line Items]        
Net sales $ (2.0) $ (4.0) $ (6.0) $ (10.0)