8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  December 21, 2009

AGILENT TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-15405	77-0518772
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

5301 Stevens Creek Boulevard, Santa Clara, CA	95051
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code   (408) 553-2424

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.              Other Events

In the first quarter of fiscal 2010, Agilent Technologies, Inc. (“Agilent”) will report results in three separate business segments comprised of the electronic measurement segment, the life sciences segment and the chemical analysis segment.  This Form 8-K provides information on this change in segment reporting and a summary of the effects of this change on Agilent’s historical segment results. The change in segment reporting will be reflected retrospectively, but in no way revises or restates the GAAP Consolidated Statements of Earnings, Consolidated Balance Sheets, Consolidated Statements of Shareholders’ Equity or Consolidated Statements of Cash Flows for the Company and consolidated subsidiaries for any period.

The life sciences and chemical analysis segments will be formed from the existing bio-analytical measurement segment.  The electronic measurement segment will recombine our existing electronic measurement and semiconductor board test segments, which were reported separately in fiscal 2009.  The three new operating segments were determined based primarily on how Agilent’s chief operating decision maker views and evaluates our operations. Operating results are regularly reviewed by the chief operating decision maker to make decisions about resources to be allocated to the segment and to assess its performance. Other factors, including technology and delivery channels, consumer-specific solutions and specialized manufacturing, were considered in determining the formation of these new operating segments.

The life sciences segment will include DNA microarrays and associated scanner, software, and reagents; microfluidics-based sample analysis systems; liquid chromatography systems, columns and components; liquid chromatography mass spectrometry systems; capillary electrophoresis systems; laboratory software and informatics systems; bio-reagents and related products; laboratory automation and robotic systems; services and support for the aforementioned products.

The chemical analysis segment will include gas chromatography systems, columns and components; gas chromatography mass spectrometry systems; inductively coupled plasma mass spectrometry products; spectroscopy analyzers; software and data systems; services and support for the aforementioned products.

The electronic measurement segment will now include the semiconductor board test segment by recombining laser interferometer, parametric test and printed circuit board manufacturing test equipment.

These changes were effective as of November 1, 2009. All segment financial information, beginning in the first fiscal quarter of 2010, will reflect this change. This change will be reflected on a retrospective basis, with prior years also adjusted to reflect the change in segments. Agilent is issuing this Form 8-K in order to provide investors with summary financial information and historical data that is on a basis consistent with its new reporting structure.  Exhibit 99.1 provides quarterly financial summary information by reportable segment for the fiscal years ended October 31, 2007, 2008 and 2009.

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Item 9.01.              Financial Statements and Exhibits.

(d) Exhibits

The following is filed as an exhibit to this report:

Exhibit No.	Description
99.1	Quarterly Segment Financial Summary Information — Fiscal Years Ended October 31, 2007, 2008 and 2009.

3

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AGILENT TECHNOLOGIES, INC.
	By:	/s/ Stephen D. Williams
	Name:	Stephen D. Williams
	Title:	Vice President, Assistant General Counsel and Assistant Secretary
Date:  December 21, 2009

4

EXHIBIT INDEX

Exhibit No.	Description
99.1	Quarterly Segment Financial Summary Information — Fiscal Years Ended October 31, 2007, 2008 and 2009.

5

EX-99.1

Exhibit 99.1

Quarterly Segment Financial Summary Information — Fiscal Years
Ended October 31, 2007, 2008 and 2009

AGILENT TECHNOLOGIES, INC.

CHEMICAL ANALYSIS INFORMATION

(Unaudited)

	FY 2009
(In millions)	Q1			Q2			Q3			Q4			Total
Orders	$	216		$	194		$	205		$	238		$	853
Net revenue	$	216		$	200		$	203		$	225		$	844
Gross margin	55.1		%	53.3		%	53.8		%	55.1		%	54.4		%
Income from operations	$	57		$	45		$	52		$	62		$	216
	FY 2008
	Q1			Q2			Q3			Q4			Total
Orders	$	230		$	240		$	242		$	250		$	962
Net revenue	$	225		$	228		$	232		$	252		$	937
Gross margin	54.2		%	53.8		%	54.7		%	56.0		%	54.7		%
Income from operations	$	54		$	55		$	63		$	72		$	244
	FY 2007
	Q1			Q2			Q3			Q4			Total
Orders	$	194		$	205		$	210		$	233		$	842
Net revenue	$	205		$	183		$	211		$	231		$	830
Gross margin	53.3		%	51.3		%	55.2		%	55.1		%	53.9		%
Income from operations	$	45		$	28		$	52		$	59		$	184

Income from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily  in conformity with accounting principles generally accepted in the United States (GAAP).   Income from operations of our reporting segments excludes primarily restructuring and asset impairment charges, business separation costs, amortization of intangibles, pension curtailment and some residual corporate charges.

In general, recorded orders represent firm purchase commitments from our customers with established terms and conditions for products and services that will be delivered within six months.

Historical amounts have been reclassified to conform with current period presentation.

AGILENT TECHNOLOGIES, INC.

LIFE SCIENCES INFORMATION

(Unaudited)

	FY 2009
(In millions)	Q1			Q2			Q3			Q4			Total
Orders	$	307		$	287		$	288		$	352		$	1,234
Net revenue	$	309		$	298		$	293		$	319		$	1,219
Gross margin	54.5		%	54.7		%	53.2		%	54.4		%	54.2		%
Income from operations	$	44		$	44		$	39		$	47		$	174
	FY 2008
	Q1			Q2			Q3			Q4			Total
Orders	$	302		$	334		$	331		$	346		$	1,313
Net revenue	$	306		$	302		$	308		$	342		$	1,258
Gross margin	51.6		%	51.7		%	53.5		%	55.3		%	53.1		%
Income from operations	$	33		$	30		$	39		$	64		$	166
	FY 2007
	Q1			Q2			Q3			Q4			Total
Orders	$	239		$	252		$	261		$	300		$	1,052
Net revenue	$	250		$	245		$	258		$	293		$	1,046
Gross margin	52.2		%	52.9		%	52.6		%	54.5		%	53.1		%
Income from operations	$	30		$	26		$	25		$	42		$	123

Income from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily  in conformity with accounting principles generally accepted in the United States (GAAP).   Income from operations of our reporting segments excludes primarily restructuring and asset impairment charges, business separation costs, amortization of intangibles, pension curtailment and some residual corporate charges.

In general, recorded orders represent firm purchase commitments from our customers with established terms and conditions for products and services that will be delivered within six months.

Historical amounts have been reclassified to conform with current period presentation.

AGILENT TECHNOLOGIES, INC.

ELECTRONIC MEASUREMENT INFORMATION

(Unaudited)

	FY 2009
(In millions)	Q1			Q2			Q3			Q4			Total
Orders	$	592		$	545		$	578		$	684		$	2,399
Net revenue	$	641		$	593		$	561		$	623		$	2,418
Gross margin	53.9		%	50.4		%	53.1		%	56.5		%	53.5		%
Income (loss) from operations	$	(6	)	$	(22	)	$	(11	)	$	40		$	1
	FY 2008
	Q1			Q2			Q3			Q4			Total
Orders	$	869		$	950		$	814		$	842		$	3,475
Net revenue	$	862		$	926		$	904		$	887		$	3,579
Gross margin	57.2		%	58.1		%	57.6		%	57.6		%	57.6		%
Income from operations	$	80		$	127		$	134		$	136		$	477
	FY 2007
	Q1			Q2			Q3			Q4			Total
Orders	$	817		$	943		$	837		$	950		$	3,547
Net revenue	$	825		$	892		$	905		$	922		$	3,544
Gross margin	56.0		%	57.8		%	57.3		%	56.3		%	56.9		%
Income from operations	$	72		$	103		$	121		$	115		$	411

Income (loss) from operations reflect the results of our reportable segments under Agilent’s management reporting system which are not necessarily  in conformity with accounting principles generally accepted in the United States (GAAP).   Income from operations of our reporting segments excludes primarily restructuring and asset impairment charges, business separation costs, amortization of intangibles, pension curtailment and some residual corporate charges.

In general, recorded orders represent firm purchase commitments from our customers with established terms and conditions for products and services that will be delivered within six months.

Historical amounts have been reclassified to conform with current period presentation.

AGILENT TECHNOLOGIES, INC.

CHEMICAL ANALYSIS RETURN ON INVESTED CAPITAL

(Unaudited)

	FY 2009												FY 2008												FY 2007
(in millions)	Q1			Q2			Q3			Q4			Q1			Q2			Q3			Q4			Q1			Q2			Q3			Q4
Numerator:
Adjusted income from operations	$	57		$	45		$	52		$	62		$	54		$	55		$	63		$	72		$	45		$	28		$	52		$	59
Less:
Taxes and other (income)/expense	15			8			12			13			15			17			17			17			14			8			16			19
Segment return	42			37			41			49			39			39			46			56			31			21			36			41
Segment return annualized	$	168		$	148		$	162		$	196		$	156		$	154		$	184		$	222		$	124		$	82		$	144		$	162
Denominator:
Segment assets (a)	$	490		$	467		$	452		$	463		$	447		$	458		$	485		$	493		$	436		$	445		$	452		$	453
Less:
Net current liabilities (b)	110			114			116			137			100			126			114			124			111			118			119			113
Invested capital	$	380		$	353		$	336		$	326		$	347		$	332		$	371		$	369		$	325		$	327		$	333		$	340
Average invested capital	$	375		$	367		$	345		$	332		$	344		$	339		$	351		$	370		$	313		$	326		$	330		$	337
ROIC	45		%	40		%	47		%	59		%	45		%	45		%	52		%	60		%	40		%	25		%	44		%	48		%

ROIC calculation:(annualized current quarter segment return)/(average of the two most recent quarter-end balances of Segment Invested Capital)

(a) Segment assets consist of inventory, accounts receivable, property plant and equipment, gross goodwill and other intangibles, deferred taxes and allocated corporate assets.

(b) Includes accounts payable, employee compensation and benefits, other accrued liabilities and allocated corporate liabilities.

Historical amounts were reclassified to conform with current period presentation.

Return on invested capital (ROIC) is a non-GAAP measure that management believes provides useful supplemental information for management and the investor.  ROIC is a tool by which we track how much value we are creating for our shareholders.  Management uses ROIC as a performance measure for our businesses, and our senior managers’ compensation is linked to ROIC improvements as well as other performance criteria.  We believe that ROIC provides our management with a means to analyze and improve their business, measuring segment profitability in relation to net asset investments.  We acknowledge that ROIC may not be calculated the same way by every company.

Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures.  They should be read in conjunction with the GAAP financial measures.  It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.

AGILENT TECHNOLOGIES, INC.

LIFE SCIENCES RETURN ON INVESTED CAPITAL

(Unaudited)

	FY 2009												FY 2008												FY 2007
(in millions)	Q1			Q2			Q3			Q4			Q1			Q2			Q3			Q4			Q1			Q2			Q3			Q4
Numerator:
Adjusted income from operations	$	44		$	44		$	39		$	47		$	33		$	30		$	39		$	64		$	30		$	26		$	25		$	42
Less:
Taxes and other (income)/expense	10			6			7			8			8			7			8			13			7			6			6			10
Segment return	34			38			32			39			25			23			31			51			24			21			19			33
Segment return annualized	$	136		$	152		$	128		$	156		$	100		$	92		$	124		$	204		$	94		$	82		$	76		$	130
Denominator:
Segment assets (a)	$	1,074		$	1,052		$	997		$	1,019		$	945		$	970		$	1,002		$	1,012		$	538		$	562		$	819		$	810
Less:
Net current liabilities (b)	175			179			179			206			167			201			187			198			139			151			174			174
Invested capital	$	899		$	873		$	818		$	813		$	778		$	769		$	815		$	814		$	399		$	411		$	645		$	636
Average invested capital	$	857		$	886		$	846		$	815		$	707		$	773		$	792		$	815		$	385		$	405		$	528		$	640
ROIC	16		%	17		%	15		%	19		%	14		%	12		%	16		%	25		%	24		%	20		%	14		%	20		%

ROIC calculation:(annualized current quarter segment return)/(average of the two most recent quarter-end balances of Segment Invested Capital)

(a) Segment assets consist of inventory, accounts receivable, property plant and equipment, gross goodwill and other intangibles, deferred taxes and allocated corporate assets.

(b) Includes accounts payable, employee compensation and benefits, other accrued liabilities and allocated corporate liabilities.

Historical amounts were reclassified to conform with current period presentation.

Return on invested capital (ROIC) is a non-GAAP measure that management believes provides useful supplemental information for management and the investor.  ROIC is a tool by which we track how much value we are creating for our shareholders.  Management uses ROIC as a performance measure for our businesses, and our senior managers’ compensation is linked to ROIC improvements as well as other performance criteria.  We believe that ROIC provides our management with a means to analyze and improve their business, measuring segment profitability in relation to net asset investments.  We acknowledge that ROIC may not be calculated the same way by every company.

Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures.  They should be read in conjunction with the GAAP financial measures.  It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.

AGILENT TECHNOLOGIES, INC.

ELECTRONIC MEASUREMENT RETURN ON INVESTED CAPITAL

(Unaudited)

	FY 2009												FY 2008												FY 2007
(in millions)	Q1			Q2			Q3			Q4			Q1			Q2			Q3			Q4			Q1			Q2			Q3			Q4
Numerator:
Adjusted income (loss) from operations	$	(6	)	$	(22	)	$	(11	)	$	40		$	80		$	127		$	134		$	136		$	72		$	103		$	121		$	115
Less:
Taxes and other (income)/expense	(6		)	(6		)	(3		)	3			13			21			20			10			14			18			25			25
Segment return	—			(16		)	(8		)	37			67			106			114			126			58			85			96			90
Segment return annualized	$	—		$	(64	)	$	(32	)	$	148		$	268		$	424		$	456		$	504		$	232		$	340		$	384		$	360
Denominator:
Segment assets (a)	$	2,286		$	2,217		$	2,088		$	2,084		$	2,353		$	2,490		$	2,462		$	2,401		$	2,344		$	2,417		$	2,326		$	2,319
Less:
Net current liabilities (b)	546			563			517			578			665			740			656			673			644			742			675			717
Invested capital	$	1,740		$	1,654		$	1,571		$	1,506		$	1,688		$	1,750		$	1,806		$	1,728		$	1,700		$	1,675		$	1,651		$	1,602
Average invested capital	$	1,734		$	1,697		$	1,612		$	1,538		$	1,645		$	1,719		$	1,778		$	1,767		$	1,641		$	1,688		$	1,663		$	1,627
ROIC	0		%	-4		%	-2		%	10		%	16		%	25		%	26		%	29		%	14		%	20		%	23		%	22		%

ROIC calculation:(annualized current quarter segment return)/(average of the two most recent quarter-end balances of Segment Invested Capital)

(a) Segment assets consist of inventory, accounts receivable, property plant and equipment, gross goodwill and other intangibles, deferred taxes and allocated corporate assets.

(b) Includes accounts payable, employee compensation and benefits, other accrued liabilities and allocated corporate liabilities.

Historical amounts were reclassified to conform with current period presentation.

Return on invested capital (ROIC) is a non-GAAP measure that management believes provides useful supplemental information for management and the investor.  ROIC is a tool by which we track how much value we are creating for our shareholders.  Management uses ROIC as a performance measure for our businesses, and our senior managers’ compensation is linked to ROIC improvements as well as other performance criteria.  We believe that ROIC provides our management with a means to analyze and improve their business, measuring segment profitability in relation to net asset investments.  We acknowledge that ROIC may not be calculated the same way by every company.

Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures.  They should be read in conjunction with the GAAP financial measures.  It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.