Business Segment and Geographical Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Business Segment and Geographical Information [Text Block]

Note 3. Business Segment and Geographical Information

The company’s financial performance is reported in four segments. A description of each segment follows.

Life Sciences Solutions: provides an extensive portfolio of reagents, instruments and consumables used in biological and medical research, discovery and production of new drugs and vaccines as well as diagnosis of disease. These products and services are used by customers in pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.

Analytical Instruments: provides a broad offering of instruments, consumables, software and services that are used for a range of applications in the laboratory, on the production line and in the field. These products and services are used by customers in pharmaceutical, biotechnology, academic, government, environmental and other research and industrial markets, as well as the clinical laboratory.

Specialty Diagnostics: provides a wide range of diagnostic test kits, reagents, culture media, instruments and associated products used to increase the speed and accuracy of diagnoses. These products are used by customers in healthcare, clinical, pharmaceutical, industrial and food safety laboratories.

Laboratory Products and Services: provides virtually everything needed for the laboratory, including a combination of self-manufactured and sourced products and an extensive service offering. These products and services are used by customers in pharmaceutical, biotechnology, academic, government and other research and industrial markets, as well as the clinical laboratory.

The company’s management evaluates segment operating performance based on operating income before certain charges/credits to cost of revenues and selling, general and administrative expenses, principally associated with acquisition accounting; restructuring and other costs/income including costs arising from facility consolidations such as severance and abandoned lease expense and gains and losses from the sale of real estate and product lines; and amortization of acquisition-related intangible assets. The company uses this measure because it helps management understand and evaluate the segments’ core operating results and facilitates comparison of performance for determining compensation.

Business Segment Information

(In millions)	2015			2014			2013
Revenues
Life Sciences Solutions	$	4,439.4		$	4,195.7		$	712.5
Analytical Instruments	3,208.2			3,252.2			3,154.2
Specialty Diagnostics	3,243.9			3,343.6			3,191.7
Laboratory Products and Services	6,661.5			6,601.5			6,398.8
Eliminations	(587.6		)	(503.4		)	(366.9		)
Consolidated revenues	16,965.4			16,889.6			13,090.3
Segment Income (a)
Life Sciences Solutions	1,336.9			1,214.9			169.7
Analytical Instruments	612.8			581.1			558.7
Specialty Diagnostics	872.9			916.0			863.7
Laboratory Products and Services	999.1			982.8			960.4
Subtotal reportable segments (a)	3,821.7			3,694.8			2,552.5
Cost of revenues charges	(9.1		)	(327.6		)	(28.6		)
Selling, general and administrative charges, net	(46.3		)	(130.7		)	(73.5		)
Restructuring and other (costs) income, net	(115.3		)	598.2			(77.7		)
Amortization of acquisition-related intangible assets	(1,314.8		)	(1,331.7		)	(763.1		)
Consolidated operating income	2,336.2			2,503.0			1,609.6
Other expense, net (b)	(399.8		)	(415.8		)	(290.1		)
Income from continuing operations before income taxes	$	1,936.4		$	2,087.2		$	1,319.5
Depreciation
Life Sciences Solutions	$	146.3		$	131.6		$	17.1
Analytical Instruments	38.9			39.0			41.2
Specialty Diagnostics	73.7			76.7			73.9
Laboratory Products and Services	114.5			105.8			104.6
Consolidated depreciation	$	373.4		$	353.1		$	236.8

(a) Represents operating income before certain charges to cost of revenues and selling, general and administrative expenses; restructuring and other costs, net; and amortization of acquisition-related intangibles.

(b) The company does not allocate other expense, net to its segments.

(In millions)	2015		2014		2013
Total Assets
Life Sciences Solutions	$	17,884.3	$	19,257.0	$	1,115.5
Analytical Instruments	4,763.1		4,133.3		4,321.4
Specialty Diagnostics	7,183.2		8,047.7		9,086.0
Laboratory Products and Services	10,266.6		10,875.7		11,523.5
Corporate/Other (c)	791.8		538.4		5,817.0
Consolidated total assets	$	40,889.0	$	42,852.1	$	31,863.4
Capital Expenditures
Life Sciences Solutions	$	85.1	$	104.4	$	19.3
Analytical Instruments	59.5		38.1		33.5
Specialty Diagnostics	75.9		84.7		77.9
Laboratory Products and Services	97.7		102.1		94.7
Corporate/Other	104.7		98.3		57.0
Consolidated capital expenditures	$	422.9	$	427.6	$	282.4

(c) Corporate assets consist primarily of cash and cash equivalents, short-term investments, property and equipment at the company's corporate offices and assets of the discontinued operations.

Geographical Information

(In millions)	2015		2014		2013
Revenues (d)
United States	$	8,607.3	$	8,147.7	$	6,617.0
China	1,376.4		1,223.1		896.6
Germany	899.7		1,005.9		758.6
United Kingdom	778.1		754.5		532.4
Other	5,303.9		5,758.4		4,285.7
Consolidated revenues	$	16,965.4	$	16,889.6	$	13,090.3
Long-lived Assets (e)
United States	$	1,532.0	$	1,501.7	$	892.9
United Kingdom	261.1		265.5		224.3
Germany	169.4		170.3		165.9
Other	486.3		489.0		484.3
Consolidated long-lived assets	$	2,448.8	$	2,426.5	$	1,767.4

(d) Revenues are attributed to countries based on customer location.

(e) Includes property, plant and equipment, net.