BUSINESS SEGMENT INFORMATION Business Segment information (Notes)

3 Months Ended

Mar. 31, 2024

Segment Reporting Information [Line Items]

Segment Reporting Disclosure [Text Block]

BUSINESS SEGMENT INFORMATION

The following table is a summary of segment information for the three months ended March 31, 2024, and 2023. The “management approach” has been used to present the following segment information. This approach is based upon the way the management of the Company organizes segments within an enterprise for making operating decisions and assessing performance. Financial information is reported on the basis that it is used internally by the chief operating decision maker (CODM) for evaluating segment performance and deciding how to allocate resources to segments. The Company’s chief executive officer has been identified as the CODM.

The prior period has been conformed to the new segment presentation as a result of the spin-off of Fortrea.

Segment asset information is not presented because it is not used by the CODM at the segment level. The Corporate costs not allocated to segments include the costs of centralized functions, other charges such as acquisition expenses, spin-off costs, remaining unallocated costs of the CDCS business, and COVID-19 related costs unrelated to the segment. Centralized functions include corporate governance, executive management and related human resources, finance, legal, risk management, and information technology functions.

	Three Months Ended March 31,
	2024		2023
Revenues:
Dx	$	2,479.7	$	2,382.8
BLS	710.9		661.3
Intercompany eliminations and other	(14.0)		(6.3)
Total revenues	$	3,176.6	$	3,037.8
Operating Earnings:
Dx segment operating income	$	417.9	$	441.5
BLS segment operating income	99.9		73.6
Segment operating income	517.8		515.1
General corporate and unallocated expenses	(128.9)		(122.2)
Amortization of intangibles and other assets	(60.1)		(53.4)
Restructuring and other charges	(5.0)		(7.5)
Goodwill and other asset impairments	(2.5)		(2.2)
Total operating income	$	321.3	$	329.8