BUSINESS SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

The following table is a summary of segment information for the three and nine months ended September 30, 2025, and 2024. 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 Company’s CODM uses segment operating income to evaluate segment performance and to allocate resources. This segment performance measure excludes the amortization of intangibles and other assets, restructuring and other charges, goodwill and other asset impairments, and certain corporate charges for items such as transaction costs, and other special items. Other operating expenses are comprised primarily of rent, maintenance, sendout testing, utilities, travel and entertainment, and other segment expenses, including shipping costs for Dx. Segment asset information is not presented because it is not used by the CODM.

	Three Months Ended September 30, 2025
Revenues:	Dx		BLS		Intercompany eliminations and other		LHI
Revenues	$	2,769.6	$	799.1	$	(5.2)	$	3,563.5
Operating Earnings:
Labor	1,200.6		313.8
Supplies	589.4		119.5
Shipping costs			101.8
Depreciation	66.4		29.0
Other operating expenses	462.8		102.8
Segment operating income	$	450.4	$	132.2			$	582.6
General corporate and unallocated expenses							(109.9)
Amortization of intangibles and other assets							(69.5)
Restructuring and other charges							(5.9)
Goodwill and other asset impairments							(0.7)
Total Operating income							396.6
Other (expense) income:
Interest expense							(56.0)
Investment income							3.5
Equity method loss, net							(5.2)
Other, net							(1.9)
Earnings from operations before income taxes							$	337.0

	Three Months Ended September 30, 2024
Revenues:	Dx		BLS		Intercompany eliminations and other		LHI
Revenues	$	2,553.5	$	737.7	$	(9.2)	$	3,282.0
Operating Earnings:
Labor	1,146.3		293.1
Supplies	538.1		109.5
Shipping costs			93.7
Depreciation	65.1		31.5
Other operating expenses	416.6		89.0
Segment operating income	$	387.4	$	120.9			$	508.3
General corporate and unallocated expenses							(172.5)
Amortization of intangibles and other assets							(63.7)
Restructuring and other charges							(18.0)
Total Operating income							254.1
Other (expense) income:
Interest expense							(50.4)
Investment income							3.1
Equity method loss, net							(0.5)
Other, net							4.3
Earnings from operations before income taxes							$	210.6

	Nine Months Ended September 30, 2025
Revenues:	Dx		BLS		Intercompany eliminations and other		LHI
Revenues	$	8,148.0	$	2,305.2	$	(17.3)	$	10,435.9
Operating Earnings:
Labor	3,479.3		905.8
Supplies	1,767.3		361.4
Shipping costs			295.0
Depreciation	193.5		86.6
Other operating expenses	1,347.2		294.0
Segment operating income	$	1,360.7	$	362.4			$	1,723.1
General corporate and unallocated expenses							(381.5)
Amortization of intangibles and other assets							(207.4)
Restructuring and other charges							(16.4)
Goodwill and other asset impairments							(0.7)
Total Operating income							1,117.1
Other (expense) income:
Interest expense							(169.1)
Investment income							11.7
Equity method loss, net							(7.2)
Other, net							(35.6)
Earnings from operations before income taxes							$	916.9

	Nine Months Ended September 30, 2024
Revenues:	Dx		BLS		Intercompany eliminations and other		LHI
Revenues	$	7,558.1	$	2,155.6	$	(34.2)	$	9,679.5
Operating Earnings:
Labor	3,274.6		869.2
Supplies	1,642.8		319.7
Shipping costs			271.8
Depreciation	189.9		93.0
Other operating expenses	1,204.0		273.7
Segment operating income	$	1,246.8	$	328.2			$	1,575.0
General corporate and unallocated expenses							(481.7)
Amortization of intangibles and other assets							(186.0)
Restructuring and other charges							(34.6)
Goodwill and other asset impairments							(2.5)
Total Operating income							870.2
Other (expense) income:
Interest expense							(144.9)
Investment income							7.3
Equity method loss, net							(0.7)
Other, net							43.8
Earnings from operations before income taxes							$	775.7